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Dmnttrria
INCLUPINO
Quotation -Supplemenl (houm^ Street Kailwaij5upplement (qiamri^
Investors Supplement (gti«»iv) Stale and City -Supplement <imMmiiif)
A WEEKLY NEV5PAPER
Representing the Industrial Interests of the United States
JANUARY TO JUNE, 1897, INCLUSIVE.
VOLUME LXIV.
WILLIAM B. DANA COMPANY, PUBLISHERS,
PINE STREET, oobneb PEARL STREET, NEW YORK.
{■ntorad Msordlng to Aot of Oongreu In the yew 1 8ft7, by Wrxiam B. Dama Oomfaht, In offloe of Ubrarlsn of CongrsM, Wasbln^ton, U. C.|
INDEX
TO mm
I
en
SIXTY-FOURTH VOLUME, ;. -
Embraolns the N umbera from January I to June 30. 1897.
And Coii&munioat«cl A.rticles.
K4lltorl«l
Fam
uit
k. —I I •• af Ma iartea't Par- _^
Of. f 4 T«
■tewixi Trade af th< L*M Ve>r ••■- XM
vS^^TrTa'StoVMieDt (MonthlT) 102,
womtn 1 raur — » ^^ 643. 7:tO. 9T«, 1 158
Morement, Favorable
8M
rtrtlxn Trade
Ci.flfr.OU. •SO, •TS. im
.... — ^_ ^^
tw.i »»
AMloatolUdaOTSMek
r.*.» »*•.!?'
•iuir. »-) mo
■oaiteni rptu
:..n% •»». 4»«, •OO.tW. 1117
(fcTcQuM liJ
OmmVnmmi. I>w««1mi LUbIUm inter
1018,1020
Bala
tag I Ckaitt fMalar aad Do* TaaaM* Admpla-
aatMrTutU* ft
afiaM 3"
- ^^ lerir.S.) 921.1018,1110
UbrraU aad Ue Euro-
M>2
639
M. BWVpa.Wfl.442. 487.
' Oaa a Ouaiaatjr be
780
Oika-Ald Vpu4 lor Naadr A»erioan»
<r.g.) 974
C«lw-Mr. Mill*- Haaolntlon of Recog-
(r.ft.1 s*
la BaoaM About 8aa- __,
■■iUrii'-a.i >••
Oakaa BaUlfarwaT Olaaaailaii In 8enat«
(y ft.) 920. 974
Omaaor Ofcaa««« Japaaa* e (Man. Cor.). 044
' in g j tPiacu Socgaatad by Katlorea ^
aaMia(•U.'ii'TreMttlT^ ■-"•". 440
~ llfB a OondlUon Preoedent
PlMperity iP.8) 1064
la Japan. Report of
206
Balanra (f. 6.) v;'!;";'
VMVlca Trade Movamenl. Kavorable Bal-
r^M Year and BaU Vear Largeat Ever
■aaofkcd (P. 8.) 100
rkmlBB Trade.Our.Eztreme Fluvtiiatlous IISS
reralo Trade. Tariff Lcglalatlon
Ooli'Biporu (F S.I
and
820
777
774
20«
301
1067
raraisB War and the Fnrclini Market*
rralSt AuoclatJona and the Supreme
Oonrt AnU-Tnut Law <1890» Deolslou.
586. 588. 638. 642. 682. 720.
^^aca. Mr. Lrman J., for Baoretarr of
W^Jaa»ar7 <F. 8.) ....
Oaga. Mr. Lyman J., on the Soolal DU-
eontaot
Oafla.8eeretarv of Treasury, on Currency
itofonn Outlook 1064,
Oannaar and Kngland, Bank* of. Effect
on Exebange of Lower Kate (P. 8.) 102
Gold Cootraets. Attempt to Make Them
Illegal In Oklahoma (P. B.) 541
Oold— Denver Oonvention and Gov-
araorJonea 1118
Oold Ezporta and Large Oovemment
BaeatpU 870-
Oold Exports and Reaction in Foreign
Exehange (F._8.) .^.^. ..^..........^.^. .^. .. 866
820
Gold Exports. Tariff Legislation and For-
elfD Trade Balanoe (F. B.
elgn Trade BalanoeCF. B.)
Gold Export*. What Thej Mean and MThy
They Need Not Be Feared^. •^■v 'S*
77i
442
113
258
737
25»
258
116S
351
Tant MMtry <M C.I IM*
, Aaa«ai m»pmn. . . 4*4
aa4 laT< _
M9
Mr. Oage'a VlewxF.B.)
a Naeaaalty to Cure In-
1 OtpfaMtoa
MncaiOiittook.Beeratary Uace
1064,1067
and Tariff L. ginlatlon. 542
_ _ * Bodaon Canal Co., An-
alyil* el Aaanal Report 213, 849
ran * HodsoD Canal Co. Reduces
UndawliP 0.1 54
Delawaf* Lackawanna A Western RR.
laaaaartMiBaM tor 1896 (F. ai S06
Baa H i qmtmUmi tad Oovemor Jones . 1112
Oaa a Onaraniy Ba
*■ 780
Katlroad. In 1896 106
Kallroad tor Seren Year*.
4w IiivK*Tii('»8t;rrLKHKKTjan 30
Oaa i'suo* I'laa for Improriog Barrow-
lag Parllliies 931
Dff Oaada Boraia More Numerous Since
riMOMk Paiiteae <P.i
e.» 348
^aa■a•y la Bxpaadltore, Oovemor
• BaaUaciaatrrB.) 1111
WWiWi'* Aaaaal Oewon Bertaw tor 1896
tr.at.. iMt (tocaMai S7o
loO I ■agUad. Bnilaass la, 1806 360
ffagUad aad Osfaaay, Banks of. Effect
at Lower Rate (F.ai ... 152
Ws JnbUae 1021, 1202
aad Europeaa Oonoert. 592
_ . ^ t Ma a tl aa. Phase* of 305
BTaaaTiUa * Trrre Haute RR.. Can a
Oaaiaaty Ba Eaforoed oa Detached
Oaapoa* 687.
fMlar* o( Bank of iiiIdoIs and Other
Basks. Ar. (F. s.i
Failora* la 1886- Some Rcliections Siig-
tnslrd hr
Pal'uTM nrst Oosrirr of 1807
Pall RiTcr Mill* Dlvldeod*
Paalaa aad Plagoe In India— The Con-
MBfUaaafCMlan (Mas. Cor.)
r ia sa»s.O»tfataUon
PtaaaHal Rirtaw (mantUy). tte Qoo-
T«noii SrrrLKaKXT.
naaarlal mtoaUoa. t*e First ArUole
••<h week.
nak. Albert. Death ol
rV*. Mr. Btuvasaat. ObserraUons on
»• lUllrsad aHaatloB (F.8.1
fa r eal o s ai * ot lalarBUta Railroad. Can
Ji-'?.P^ fit.fro«rf^'"~ '- '<"<• SUte.
FMsaMMHi WMkaU !!■ "ii.sta
— - TfrrmiMiiii
rwrstga BukaMi y.
^Ufjarat arabftT f .
■•ta bfBa!8*i/i......
■wif.*)...— •
'•Jj** «*^Ka BaartloB in and Caoao
*»J**sg» Tending Upward "and
780
56
649
66
260
977
683
1018
980
n. KtA
.923. 1027
■ "Ult of
(F.8.1
' l/ower
uud Ger
100
152
866
...,... ...... ... . .JJiUlli, <B liaaiiF 87 " '
oa Prices
''SSfl?*'** ''•"^'••ipilBoantFeat
■»•••»
894
1202
976
They Need not uerearea
Oold Money and Michigan ElecUon (F. 8 )
Gold Paymento by Japan (F. 8.)
Oold Paymenis by Japan, Report of the
Committee
Oold Production of Africa
Oold Production of Australasia 259.
GoUI F'mduction of Russia
Gold Proiluctlon of United States
Gold Production of Unl.ed States 1896—
Mint Hureau EntlniHte
Gold Production of World— Annual Fig'
urCK from 1971 to 1890. Inclusive 256
Gold Standard and ludlaDapoIls Sound
Money Convention (F. S.) lOO
Oold, Unit<-d States Imports and Export*
of (monthly) . ...102. 350, 542, 730, 976. 1158
Qoveruuieiit. the Cost of In Europe and
United States Contrasted 930
Oovcrniucnt Receipts Large and Qold
Exirorts 87»
Grain Crops of 1896 217'
GnecoTuiklsh War, Course of— End Ap-
proaohlDK (F. 8.) 822,887,920. 921
Gneoo-Turkisb War and Foreign M arketa 777
Gneoo-Turklsh War, Suspeiuion of Hos-
tilities (F. 8.) 975
Gnpoo-Turkish War— Tarkey No Longer.
■■Sick " Resists Action of Powers (F. 8.) 920
Gm-co-Turklah War and Wall Street (F.8.) 974
GreatBrltaln, BuHiness iu, 1896 266-
Great Britain and United Stales Arbitra-
tion Treaty 100, 103
Great liritain. United States, cto.-, Oostof :
Oovemmentln 925-
QreaterN.Y. Charter and the I.»glslaturew 399
Greater New York. Public Uearing on
Charter 59,
Greece and Crete r*. Euroiie.
396,442.487,
Greece, Crete and Turkey, The Trouble
Between
Grerce-Englieh Liberals and the European
Concert
Greece and Turkey, War Declared, etc.—
EITect on Markets 774,
Greek luvoslon of Macedonia (F. 8.)
Oreene, Mr. Thomas L., on Cort>oration
Finance
Guaranty by One Railroad Co. ot the
Bonds of Another
Guaranty. Can It be Enforced on De-
tached Coupons 78*
Hastings, Governor, on Economy in
Ex|>cndlture (F. S.) 1111
Havemeyer, Mr. H. O.. Acquitted (F. 8.). 1018
Hawaiian Annexation 1205
Hawaiian Treaty Signed by Prosld't (F. B.) USA-
Hoar's, Mr., Defense of Senate and Its
Legislative Methods S80
Hobart, Vice-President, and Senatorial
Obstruction (F. 8.) 440-
IUlnois Central RR.'b 3>a Per Cent pond
Issue(F.8.) 020'
ImmiKration BlU, Features of 4
Indin, Famine and Plague lo— The Con-
sun; |il ion o( Cotton (Man. Cor.) 260-
Indian Kamine and Postilenoe and the
Cotton IndUNtrv (Man. Cor.) 355
lndianu|>olis Coiivcution, Gold Standard,
Currency Reform, etc. (F. 8.).
Indianaiiolls Decatur A Western RR.—
Can an IntersUte Railroad be Fore-
closed by Proceedings In One State —
loduHtrlnl l)e|iresslon the Cause of Social
Discontent
Inheritance Tax Bill (N. Y.) Vetoed (F. S.)
Interest. Possibility of Saving In Refund-
ing High Rate Bonds 492, 499, 540,
Inter-State Ooiumerco Commission's
Powers Over Kates, Supreme Court De-
cision Limiting 1018, 1020
Inter-Stato Commerce Commission- Ball-
way Pooling Hill (F. 8.) IIH
Inter-State Commerce Law, Arc Street
Railways Subject to 0»»
100
639'
305-
592.-
777
730
977
687
100 •
980'
351
974
1202
, anuarj-June, 1897.1
INDEX
m
Pagb.
Inter-Stato Commerce Law, Pooling
Amendment by Senator Foraker (F. S.). 638
Inter-Stale Rallroail, Can it be Foreclosed
by Proeeedinus In One State 980
IHVKSTOR'8 Supplement for January fol-
lows Chronicle of January 30: for
April. Chronicle of April 24—
Preferred Stocks and Voting Tru8t« of
Railroad Companies. April.
Railroad Divldeuda in Seren Years,
January.
Iron. Advance In (F.S.) 1110
Iron Furnaces in Blast, 101, 348, 488, 729, 921
Iron Production in 1896 216
Iron Production Increasing (F. S.) 348
Iron and Steel lDdu.stry 1162
Iron and Steel Indus try .Britlsh.andAmer-
loan Competition (ilan. Cor.) 1026
Japan, Currency Reform In, Report of
Committee 112
Japan and Gold Payments (F. 8.) 442
Japanese Currency Changes (Man. Cor.) . 644
Jeffery, Mr. E. T., on Railroad Situation.. 1071
Joint Traffic Asaociation to Continue
Pending Judicial Decision (F. S.) . .638, 729
Joint TratUo Association Reduces Rates
on Coin (F. S.) 153
Joint Trafilo Association, Suit Against
to be Argued in October (F. S.) 682
Jones, Governor, and Denver Convention 1112
Kansas City PItUburg 4 Gulf RR.
Opened to Shreveport (F. 8.) 441
Kansas, Decline In Prosperity Illnstrated
—Railroad Rate Reductions 353
Kentucky Elects Sound Money Senator
(F S ) 821
King, jolin,'Ex-Pre8.ofErieRR.,'Deathof 683
Lake Siiore & Michigan Bonthem RR.,
Bond Sale 441, 446
Lake Shore & Michigan Southern RR.,
Half-yearly Statement 1209
Lehigh Valley Ry. Annual Report 105
Lehigh Valley Ry. Keatljustment, Strong
Financial Backing (F. 8.) 486
Lexow Anti-Trust Committee, Queer Re-
port from 488
Liability for Principle — Guaranty by One
Railroad Co. of the Bonds of Another... 687
Limiting Construction of New Roads 58
Little, Mr. Stephen, and Bait. <b Ohio RR.
Car Accounts 64
IMoKlnley's President, Inangnral Ad-
ilM. dress (F.S.) 440
Manchester Correspondent. 260, 355, 644,
734, 1023, 1026
Hancbester Correspondent on Patent
Laws In Great Britain 734
Manchester Cotton Goods Market 1023
Merchandise. United States Imports and
Exports of (monthly) (F. 8.). 102, 350,
542,730,976,1158
Mexican (Antral RR. Annual Report 828
Mexican National RR Annual Report.... 548
Mexico's Silver Production 260
Michigan Central A Canada Southern's
Division of ProflU 5
Michigan Central & Canada Southern Half
Tear Statement 1209
Michigan Election and Sound Honey (F.S.) 774
Mobile A Ohio RR. Income Statement for
8U Months (K. S.) 153
Money Market, New York, for Five Tears 117
Money Supply Increased and Idle Trade. 1113
Monetary Systems of the World (Book
Notice). 828
Monthly Review — Financial and Com-
mercial. Ste QnOT*TIO!« BCPPLEMEITT
(monthly).
Morgan, Mr. J. P., on Supreme Court De-
cision in Trans-Mlssouii CaseiF. S.)... 586
Municipal Bond Sales (monthlT).93, 341,
450,720.910,1101
'Municipal Bonds as Investments 867
7^ atlonal Bank, Right to Invest in Stock
1' of Another Corporation 1207
New Roads. Limiting Construction of.. 58
New York Anti-Trust Law, Oonstlta-
tlonalityof 1114
New York Central RR. Showing for the
Fiscal Year 1204
New York, Division Into Two States,
City and CJountry Influence 645
TTew York Central and Harlem Railroads,
Refunding Plan (P. 8.) 728
New York, Greater, Charter and the
Legislature 390
Hew^ork, Greater, PabUo Hearings on
Charter 59, 155
New York Money Market for Five Years. 117
Hew York Produce Exchange Transac-
tions (monthly )..«8, '^71, 452, 650, 873, 1073
N. Y. State Law Regarding Accountants.. 307
New York Stock Excliange Share Sales
(monthly) 03,251,441, 630, 868,1073
New York Stock Exchange Transactions
(monthlyi 68, 271 , 452, 650, 873, 1073
Nicaragua Canal Episode 211
Northern Paoltlc RK. and Oregon R'y &
Nav. Co., Sale of Syndicate Stock (F. S.) 250
Oats Production In 1896 218
Oklahoma, Attempts to Make Gold
Contraets Illegal In (F. s.) 641
-Oregon Ry. A Navigation Co. and North-
em PaclOc RR— Sale of Syndicate
stock (F. S.) 250
Paclflc Railroad Debt and Congress 65
Paolflo Railroad Funding Bill De-
feated (F. 8.) 100
Passenger Rates— Agitation for Two- Cent
Fares In the West 156
Passenger Rates, Two Cents Per Mile! ! .' '. 782
P»tent Laws as Affecting Manufacturing
In Great Britain (Man. Cor.).... 734
'PenDaylvanlaBankers'Assoolatlon- Pro-
ceeeftings of Second Annual Conven-
tion (IV)ok Notice) 828
Pennsylvania KR. Annual Report....'.'.'.'.' 448
remuylrania RR. Eamlnga anit Ex-
Pagb.
penses (F. S.) 3. 250, 395, 638,822, 1066
Pennsylvania RR and Mr. Green (F. S.).. 302
Pennsylvania RR. and President Roberts 252
Pitts. Clnn. Chic. & St. Louis BR. An-
nual Report (F. 8.) 775
Pooling Aitendraent to 1890 Trust Law.. 729
Pooling Amendment to Inter-State Com-
merce Law, bv Senator Foraker (F. 8.). 638
Pooling Bill, Railway (F.S.) 1111
Preferred Stocks and Voting Trusts of
Leading Railroad Companies 778, 825
Preferred Stocks and Voting Trusts of
Railroad Companies. See Investors'
SCl'FLEMENT, April 24.
Pres.McKinlev's Inaugural Address (F.S.) 440
Print Cloths. Effect of Mr. Borden's Pur-
chase of 750.000 Pieces (F. S.) 302
Print Cloths, Proposed .Action to Reduce
Redundant Stock (F. S.) 54, 152
Print Cloths-Why Cotton Has Not Been
Higher 208
Produce Exchange (N. Y.), Transactions
on (monthly).... 68, 271, 452, 6,50, 873. 1073
DOTATIO!! 8CPPLEMEST (monthly ) , fol-
lows Chronicle of Jan. 9, Feb. 6,
ar. 6, Apr. 3, May 8 and June 5—
Monthly Review and Monthly Tables of
Stock Exchange and Other Bond, Stock,
&c.. Prices.
Ralffeisen Mutual Rural Savings Banks 983
allroad Bonds, Non- Assenting, Status
of in Reorganization Without Fore-
closure 923,1027
Railroad Building In 1896 8
Railroads. Can a Guaranty be Enforced
on Detached Coupons 780
Railroad, Can an Inter-State Railroad be
Foreclosed by Proceedings In One State 980
Railroad Commissioners and Carriers,
Co-operation Between 1071
Railroad Corporation FInanoe 977
Railroad Dividends In 189B 106
Railroad Earnings, Cliaracter of Current
Reports (F. 8.). .3, 55, 101, 153, 206,
250, 303, 349. 39.'S, 441, 487, 507, 039,
729, 821, 975, 1019, 106 ■•, 1203
Railroad Earnings, Gross (monthly) . 108,
310.495, 689,927,1116
Railroad Earnings, Gross and Net, for
Year 1806 403, 449
Railroad Earnings, Net (monthly). .160,
549, 735, 981, 1164
Railroad (Paciflo) Funding Bill Defeated
(F. S.) 100
Railroad Passenger Rates, Agitation for
Two-cent Fares in the West 156
Railroad Rate Reductions Proposed by
Western Leglslature.s 353
Railroad Receiverships on £x-parte Mo-
tions 2
Railroad Situation, Observations by Mr.
Stuyvesant Fish (F. 8.) 1018
Railroads- Anti Trust Law of 1890, Pro-
posed AmcndiuiMit In House PenuitUng
Traffic Agreements iF. S.) 729
Railroads. Bituminous Coal Carriers,
Weakness In (F. 8.) 152
Railroads, Guaranty liy One Company of
the Bonds of Anoth< r 687
Rallrrads- Joint Tnilllo Association. Suit
Against to 1)0 Arguol in October (P. S.) 682
Railroads— Joint Truilic Association to
Continue Pending Judicial Decision
(F. 8.) 638, 729
Railroads, New, Limiting Construction of 58
Railroads, Possibility of Saving in Re-
funding High Rate Interest Bonds..
492,499,540, 1202
Railroads, Rights of Cities to Upeu Streets
Across 823
Railroads, State Legislation Taxing and
Restricting (F. S.) 349
Railroads, Supreme Court Decision Lim-
iting Intet^State Commiuton's Powers
Over Bates 1018, 1020
Railroads— Traffic Associations being Re-
organized (F.S.) 775
Railroads, Traffic Associations Violate
Trast Law ot Oongreas. .686, 588, 638,
MS, 682, 729, 794
Railroads— Trans-Mlssourt Freight Asso-
ciation, AppUoation for Rehearing (F. 8.) 683
Railroads, Two-Ceut-Per-MUe Passenger
Rates 782
Railway Pooling Bill (F. 8.) 1111
Railways, Street. Are They Subject to
Inter-State Commerce Lawt 688
Rate Reductions Proposed by Western
Legislatures 353
Rates, Concessions in Throng the Crea-
tion of Outside Companies 308
Rates on Corn, Reduction by Joint Trattic
Rates, Decline ic,au<l the South'n Paciflo. 871
Associations (F.S.) 153
Rates, How Far May a Legislature Re-
duce 546
Reading Co., Validity of Charter 55
Reading RR. Fei'ruiiry Statement 683
Reading RR. Morti-Mge 587
Reform Club Dinner, Speeches by Ex-
Presldont Cieveiand and Others (F. 8). 821
Refunding of High liato Interest Bonds,
Possibility of Saving 492. 499, 540, 1202
Retroactive Tariff Legislation, Legal
Aspects ot 638
Retrospeotof 1896 6
Revenue Deficit and Treas. Outlook.445, 590
Roberts, President, and Pennsylvania RR. 252
Russia Gold Production 259
^t. Joseph's Attempt at the Compulsory
^ Fetirementof Honds ". 1161
Baa Francisco Imports and Exports of
Gold and Sliver (monthly) 161 , 452,
549.784, 1028,1165
Saving of Interest Possible In Refunding
High Rate Bonds 492,4!)!), 540
Savinns Hanks. Ralfl'elsen Mutual Rural.. 983
Senate (U. S.) and Mr. Hoar's Defense of. 685
Senate (U. S.), Past Present and Future . . 443
Paob.
Senatorial Obstruction and Vice-Presi-
dent Hobart (P. S.) 440
SUver and the Bimetallic Commission Ap-
oointed by President 729, 731
Silver Cause of Large Stock of Print
Cloths and Lower Cotton 54,152, 208
Sliver Production of Australia 260, 737
Silver Production of Mexico 260
Silver Production of UnitedStates 260
Silver Production of WorldSlnce 1871 260
Silver Quotations 1833 to 1896 314
Silver, U. 8. Imports and E.xports of
(monthly) (F. 8 )102, 350, 542, 730, 976, 1158
State and Citv Supplement follows
Chronicle of April 10—
Bond Proposals, How Large Should
Derosits Be.
Bond Proposals, Requiring Deposits
With.
Municipal Bond Sales, Activity in.
U. S. Dei>.t and History.
Social Discontent, Mr. Lyman J. Gage on. 351
Sound .Money Cause Encouragedby Mich-
igan Election (F.S.) 774
Sound Money Convention at Indianapolis,
Recommendations (F. S.) 100
Sound Money the Leading Issue at Re-
form Cluli Dinner (F. S.) 821
Sound Money Senator from Kentucky
(F. S.) 821
South African Gold Production 258
Southern Pacitio & Atchison Exchange of
Lines 58S
Southern Paclflc and the Decline In Rates 871
Sjieculation and Clearings Inl896 61
Standard Oil Co.— Anti-Trust Decision In
Texas 387
Steel and Iron Industry 1162
Steel Rail Pool, Dissolutlou of. Stimulates
Trade (F.S.) 302,348, 394
Steel Rails, Large Orders for Railroads
and Export(F.S.) 348
Steel and Steel Rail Production 402
Stock Exchange, Chicago, Closed and
Failures (F. 8.) 3
Stock Exchange Share Sales (monthly)
(F.S.) 63,251,441, 639,868,1073
Stock Exchange (New York) Transactions
on (monthly) 68, 271, 452, 660, 873, 1073
.stock Exchange. Why Lifeless (F. S.) 349
Stock Market. The Rise in 1159
Stocks. Preferred, and Voting Trusts of
Leading Railroad Companies 778, 825
Stocks, Preferred, and Voting Trusts of
Railroad Companies. ,!>':e Investor's
SiTFPLBHENT April 24.
Street Railways, Are They SuttJeot to
Inter State Commerce Law? 688
Streets, Rights of Cities to Open Across
Railroads 823
STREET Railway Sdpplement for Febru-
ary follows Chronicle of February 27;
for May Chronicle of May 29 —
Bicycle Competitions, May 29.
Electric 8treet Railways and Abut-
ting Property Owners, May 29.
Speed and Speed Regulations, May 29.
Street Railways and tlie Commercial
Depression, Feb. 27.
Sugar (Book Notice) 828
Sugar Trust and the " Greed ol Capital ",
302, 304
Supreme Court Decision Limiting Inter-
State Commerce Commission's Powers
Over Rates 1018, 1020
Supreme Court Decision on Right of Na-
tional Bank to Invest in Stock of An-
other Corporation 1202
Supreme Court Decision In Trans-Missouri
Case 586, 588, 638, 642, 682, 729, 774
Tariff Bill (DIngley), Senate May ReUeet
B<>troactive Clause 774
Tariff BUI Reported to Senate with Im-
portant Amendments 866, 863
Tariff Bin (Senate) Retroactive Clause
Eliminated 868
Tariff Legislation, a Cause for Gold Ex-
ports (F. S.l.v 820
Tariff Legislation First Net Antagon-
istic to (Currency Reform. 642
Tariff Legislation, Outlook for Speedy
Action Less Promising (F. 8.) 820
Tariff Ixiglslatlon, Hiapid Progress (P. S.) 1064
Tariff Retroactive, Effect of Rumors of on
Withdrawals from Warehouse, and
Money 486, 540
Tariff, Retroactive, Legislation . .638. 640,
649,682,728, 774
Tariff, Retroactive, Legislation, Legal
Aspects of 688
Tariff, Retreactive, Senator Vest's Reso-
lution In Opposition to (F.S.) 728
Tariff Revision, Senate at Work on (F. 8.)
1018, 1064
Tax Bill, Inheritance (N. Y.) Vetoed (F, 8.) 974
Texas, Anti-Trust Decision In 397
Toils Compensatory— How Par May a
Legislature Reduce Rates 546
Trade Activity Promoted by Dissolution
of Steel Rail Pool and Purchase of Print
Cloths (F. 8.) 302
Trade, Idle, and Increased Money Supply 1113
Trade Improving Moderately, Bank
Clearings, etc. (F. 8.) 688
Trade, Improving Sentiment In United
States, Reasons for (F. S.) 1202
Trade Movement, Foreign, Favorable
Balance Year and Half-Year Largest
Yet Recorded (F.S.) 100
Trade Since Election— Relief in the East,
Little Relief In the West Causing Fail-
ures (F.S) 3
Trade Situation Improved as Result of
Hreak In Steel Rail Pool, etc. (F.S.) 348, 394
Trade Situation at West Improving (F. 3.) 1065
Traffic Associations Beiog Reorganized
(F.S.) 775
Traffic Associations and Trust Law of
1890, Supreme Court Decision.. 586,
588, 638, 612, 082, 729, 774
INDEX.
(Vol. LXIV.
jrissLrtsaft^
MS. tm.
lAalli l»m at
•IbiM
_ iu<»-
.nat tlmitt ' \^€»'
u «i T tu%*t%tnm-
tWta.(M««aa^V«
•( Ma* <»'. »■»
EB. UeM and Oim«rM«
Paob.
OBleanMM*KR.IlM>reitii'i«Uon8oh«nielo<4
DaltMl i*li>t<<« TVlit mill ITIxUirr, State
' - \liril JO.
iK'iloii -JSe. 260
• ■ . lirttalii Arbltni-
100. 103
. omt HrltalD, «tfl., Co*t
lit In 985
V viixF. HI- 540
I ilf Yearly
moo
- 788
■ ■'..■ KtMlno-
BBS
III IROe 118
ml lieporta of
931,1110
■ 11 a58
. I silver.... 350
Korf»l|rn Oorrevpondenoe,
F'inanciaU Ooinmercial, R.ailr'oa.dR, &.c.
IJHMMt nptnt art trndrmHl to Uifk-fmetd JIgMrm.l
rt«a
4*
. 1 1 niiiiiii I nt: Its
Ikl Al>CW ••J
• >iBl>mi Hf. St4
Or).. I tt*e
•«»
l«4«. IMT
Ml
'•4B
<to ««]v. a«l.
mZ^W. TM. TVt. MO. 104*
t ^...... ...
ISfT^ tm. t«4*. I ,
rrMM»i-~' ' -^ ■ '7 s I ; u*?
»»»
Ml
4a.«i.ft&&.SS:|S*! ^
■M»alia •••.^•40
J*««ll4>a, A Waam HiL am. uoj
I A ntKfSriu tM I041
Ail** I > ILL >■**"*****>
»4 BrM4««tti. KxpoTt*
IkMk «|^ m*r >*■>• «••«.•>•• „
•1«
l»S
MT
9M
*Oaa*uwKi : tl
»nmVkOu>~ «W
■ -'•tut. «», t^ti^
MalSSTlsMliut
MS, Ml. MT
.ctif^SSaMpra/. itf.9M.97a. na
) A ilatlM«« taaai'
,«U, MijMtjtaj". .■.■».»»!.
M«rM«. IMa 10a7.
Mlllf iW.MV.IoiT. la*
a( lw«Ml7
Paoe.
uf. from tin- U. B.
1 45. ft77. 7(10, •«4. 1 193
niM^M* MariM aad .Hiatlrtlo* (woakly).
)W» Oiaiamrlal Tiawa. _ ___
nrMjrtoa * MUWllIa TraettoB Ob 887
Hri«aaUB* Traanll On 373
Mnaaklra OIIT RK 41, SSS
iSSkXyl aw A .N.WU.W. KK . .708. 18113
BrMklni IUMata4 KK. . -SOjai. 83. 386,
• tttxufran, 1000. I088. 1137
BiMtOya BaUkU RR BU. 339. 7K3
rKaqiiaaBi 0». * MIwuVb (Mrcai > RR. 753
BtaaUraRaaMTtaaaltOo 80.333.
"'"f"''^ 829. 873. 610, 753. 798
■raaklxa * StaUn liland racry 00 1137
BrwtktyaatfaatRallaray* -^v 1252
moaklTBDalMOaaOo 887.1323
limokln Wharf AWarahenaaOo 421
umaavlakOa I3:t
UmaaAPlMMaKK- 609
- - - - 829
* P.tUkorf RT....333.
989.706, B4S
Ba8klaMna4Rr _ 9M
Kafcte TtaoUM CO.- 798
-' -Mob. 6w 0«U aad SDmt.
inatoB Oedar RapMa A Northern Kjr. 948
. ..ia«taB(lowa)Rr. AUcbt Co 339
nartlaftaa KtootclaBr 41. 339, 468, 753
■ ,ll- IITlllW "tlTjl"- 133, 886 1
■Mia tlMaalMBtart Wnicil Hy 668
^BlBiatBac-9t Ry.(rbleaip».798,887, 1088
V^alaaat A HrcJa Miulaa Oo 133
Caahftolmnro 386.753, 951 I
ramilaB t I'lirllnri-n "mntr KR 373 1
Caaada aauUirru Uy lOBS, 1225
CaaadlM Paoinc Ky 329.434. 4«t.
«1«. 62B.75t, 1180
Caaal aad MlasaUaaaona Stoek aod Bond
LM. «M ixTiaTOBa* aorruiiiBirr
i<iuart«rly.t
<'«|ilUI (•Irmt Ry. of PraakfDrt. Ky..423, 1180
( <l>ii»l TraoUoB (V>. iWaak.. D. C.I..1041. 1088
Capa rrmr A Yadkin Vallay Kt.. .41. 180.
603. 706, 798, 1223
CarollBa A Caaberland Oap Ry 81
raroUBal?amba>laad<iap ACblcacoRy. 81
(-amIiiiaAllortbwaalrrii RR 180
c-arollnaTwaaaMaAOlilu KK 1000
C-atarafl OwlMBrtlua I'o 334
OBtrml imaali ObIob PaoUaRy 1041
OntnU^arTlMtOe 41
t.iral c-roMtown (N. Y.) RR. .286.951.
1001.1042. 1137
i.irsl Xattoaal Bank. M. Y 233.1228
i>au«laf <ia. Ky 83. 180.817. 610
Cmtral Ohk> KK 83. 133. 184. 180. 383,
4J2. 516. S33. 566. 843
Cratml PaelDr KK . _. .—
468, Bs 1 ^
(^•atrml KK otNew J-^
(Valral KK.(>f (kC ,,
<'«alral Ky. af Balttaora
iVniraJ Traaayattallan Oa,
(.'blaaao Paoklni A PtotUIoh Co.
Obloaco Peoria A Hi. Loula Ry
Paob.
.. 051
.284, 136
Ctilraco Rock lalaud A Paolfla Rr.IOSfi. 1000
Clilraico l*t. Paul lUnnrniioliii A Omaba
Kr!^ 231.233. SI 4
riUea«o A South Atlantic RR 1180
Ctaieaco A South Side Kapid Tranalt RK..
41. 177, 180, 666
Ohioa«o Street Kail way* 951
Obioaco Talcpboue CV) 608
Obta. Tenn'l TraD«r. KK. .888, 1000, 1137, 1224
Obteaco A Weat MiobUan Ry. 842. S48
Cbteaim A Waat«m Indiana RR 40. 1086
Obloaco WlaconalB A MInneaoU RR i>03
Oblcatnanga Goal A Coke Co 1041
Obleamaujca A Durham RR 706
CbocUw OkUbona A Ouir RR 1 33. 133. 842
Cincinnati Hamilton A Dayton Ry 88
Clnclimatl Ham. A Dayton Traction Co.. 82
Cincinnati Inclined Plane Ry 799
Cincinnati Jaokton A Mackinaw Ry.. 41.
83,70tl. 848
ClDOinnatl A Miami Traction Co 180
CtncinnaU A Munklnirim Valley Ky 997
" ' imrt A Covington Ry 41
Cincinnati Nonhorn RK 706
t^aavai. Unlaa TManbona Oa.
"" aaetHK.
2)46. 432,
U, 1180.1833
.IMS, 706. 1041
887
>Baaaa*a>>><> 3R?0
798
. Chlct »38
41,W,S7S,616,
867. •••, 1089
WaabtaclMiRR 9S1
■ -lOhaaMT KK 1137
AAaipuURK.. 834
m. Ci Miaet Rf 878. 706
AMTBBBBk mL. 431
WxfmCBTOMMRR 753
" ':>ii Ry. LtgHt
f»W»f
Chad
a A IliitUdlli UR
C'haltauaoBB Kama A tnlunhaii KK
Cincinnati Porumouth Si Vlri^nia RR.... 1180
Cincinnati Street Ry 610
ClUiena' Street RR. (Indlanauolis)..754,
799.842.951. 1180
Cttltcna' TracUou Co.. Oabkosb. Wl*. 799
Cltltcna' Traction Co.. San DIpko. Cal.... 422
City Bonda. Prices of. Ste yuoTATioK
SuPfLEHKNT (montbly).
City A Suburban Ry. . .753. 754, 799, 951,
1087, 1180
City A Suburban RR. (Savannah, Qa,).... 755
ClaOlncn H B 138
Clevelnv • '' : ,<^ Sonlhern RR 516
Clevelo .vst. I.. Kr.233. 1181,1224
Olevelui. vWhevliugKR 39. 566
Clevelaiiii <v ^tiiriciia Ky 1086
Cleveland I'alueavlUe A Eastern (Eleo-
trie) RK 384
Cleveland A PlttMmrg RR. BOS
Coffee Srr Coiiimerciul Times (weekly).
Coin anil Ilullluii. Prlcmi In New Y'urk
(weeklv). 8te Bankerit' Gazette Prices
In Loaoon. tte Monetary and Commer-
cial EDKllab News.
Colonial Trust Oo. of New York 707. 1000
Colorado Coal A Iron Dev. Co 567
OoloradoMldlandRy.134.888. 1181.1224. 1226
OolnmbU A Maryland Ky. (Electric) 610, 1088
Columbus (O.) Central Eleotrio By. ..387, 842
C<ilumbus( >hlo)OasOo 1224
Columbo* A Cincinnati Midland RR.134.
180, 233, 330. 707
Columbus A IlooklngCoal A Iron Co. .41.
134. 610. 1000, 1041
Colnmbus Hock. Val. A Tol. Ky 373. 422,
516.566.' 10. 663.754. H42, 1041, 1088. 1224
ColuiiibuB Sandusky A Hocking Ky.. 134.
233.423.663.1088.1137
Colnmbus Street Ky. 233 -
Comuicrolal Cable Co. ...41, 83. 180, 330,
S6«.843 951
Commercial Epitome (weekly). iSce Com-
mercial Time*.
OomBMretal and Miscellaneous News
(weekly). 39. 69, 121. 163.220. 373. 315.
3.t9. 407, 454.503, 5M. .■»96. fl.-il. 6H4,
740. 785. 830. 874. 987. 985. 1 030. 1 075,
112.^. 1107,1212
kly). 43.8(1. 139.
1. 427.473. .V2.'..
■•, H05. 8.M, 903
1091.1139, 1186. i'.;2n
•o 135 .
1181
.1 KR 798, 1000 •
ir«ii<-c Co 425
f Mnrrland 908 »
1 (ill. r... iN. Y.) 1000'
I<c(o.... 1179
I Kansas <Tlty Smelting A >
1 754
I Street Ry. of (Jrand Rapids.
180,287, BIO I
■ 11.. New Jcri>ey... 010 .
83
. ;, In I.<>ndon. Ste
('uiiiuioroiiil Engllsli
A
(',.■
... 339
... 188
Ofl. 1041
»2, <
ir,. 7-.:i
' 1
<
liC^
Krr IlreadstufTs.
82
■Cotton" in
Ky:8S3, 1U8«, I'J
■icaL \
-Srr also the title
K-llloHal Articles.
IK) Acreage In lHfl7 111»
Do Agricultural Bureau's Renortij- .
January-June, 1897. J
IN DEX
Page.
Amount of Crop in SlKbt( weekly).
Amount on Shipboardnot cleared.
(weekly).
Clearances from V. 8. Ports
(weekly).
Consumption in Europe 240,
270, 385, 529, 856, 962, 1190
ConsumptionandOverland Move-
ment— December, 61; January,
165 ; Februarr, 450 ; March.
647; April, 855; May 1096
East India Crop Prospects... 193.
337, 385, 624, 1006
Egyptian, Alexandria Report by
Cable (wecklv).
Aj^ Eeyptian Crop.. ...1006. 1097, 1235
Da Exebanges, To AWllsli 529
Do Exports (monthly) 145, 577, 765,
964, 1192
Exports of Yams and Ooods to
China and Japan from India. . 529
Exports of Yarns and Goodsfrom
Great Britain. ..194, 477, 575,
763. 1052, 1233
FaU River Dividends 66, 477, 1096
Government Weekly Crop Re-
ports 1096, 1143,1191,1232
Helghto' Rivers (weekly).
Hign Water In the Mississippi...
625, 671, 717, 762, 809, 855.
907, 9t0. 1006, 1052, 1095
India Shipments (weekly by
Cable).
InteriorTowns Movement(w'kly)
Liverpool Market (weekly).
Liverpool S ock 671
Manchester Markets (weekly).
Manuf actures, Ex ports of (month-
Ij) 193, 337, 575. 763, 962, 1190
Markets and .Statistics (weekly).
See Commercial Times.
Memphis Exchange Election 193
Mills on Short Time 293
JIow York Cotton ExchauKe.1097, 1144
Overland Movement (wet-kly).
Port Receipts and Daily Crop
Movement (weekly).
Quotations for Middling at Other
Market (weekly).
Receipts from Plantat's (weekly).
6ea Lsland Movement (weckl> ).
Southern Mills to Curtail Produc-
tion 061
State Weekly Reports.. 855, 907,
961, 1007, 1051, 1096, 1143. 1191, 1233
Do Tempeiature and Rainfall Aver-
ges 194, 195, 1097
Do
Do
Do
Do
Dp
Do
Do
Do
Do
Do
Do
Do
Do
Do
Do
Do
Do
Do
Do
Do
Do
Do
Do
Do
Do
Do
Do
Do
Do
Do
Do
Do
Do
Visible Sipply (weekly).
Weather Record for !*eptember.
October, November and De
cember, 195; January, 670;
February, 670; March, April
and May 1234
Do Weather Reports by Telegraph
(weekly).
CoBur d'Alene Ry. A Nav. Co — 135
Cumberland Valley RR 467
Cuy ler ic Woodburn RR 134, 469
Dallas City street Ry
ebt Statement (monthly). Be* V. 8,
Debt.
Delaware RR
Delaware <Ic Hudson Canal Co 82, IBl,
«31,234, 370,
Delaware Lackawanna & Western RR.
181,231,423.
Denver dc Rio Grande RR
Des Moines Sc Fort Dodge RK
Detroit Cltizris' Street Ry
Detroit Electric Ry
Detroit tias Co
Detroit <i rand Rapids A Western RR..82,
Detroit Lansing dc Northern RR 82.
Detroit A Lima Northern Ky 799.
Detroit Maokluao & Maniuette Land
Grant
Diamond Match Co. .180, 285, 663, 707,
754, 952,
Dividends Declared (weekly). See Bank-
ers' Gazette.
Dry Dock East B'way & Battery RR.843,
Dry Goods Markets and Statistics (week-
ly). See Commercial Times.
Duluth Cas & Water Co 233, 287,
Duluth & Iron Range RR
Duluth Superior & Western Ry
Dnluth ck Winnipeg RR
Duluth A Winnipeg Terminal RB
567
1000
952
952
954
1181
82
82
287
469
469
1137
707
1088
1041
423
1041
134
134
1000
East Birmingham Land & RR 843
ast Claire Light A Pe wer Co 330
East Liverpool & WellsviUe RR. 287
East Penn Traction (2o 707, 754
EastTenu. Land Co 423, lOUO
Eastern Trunk Line Association .567
Sdlson Electric 111. Co., Boston 608
Edison Electric 111. Co., Brooklyn. ...132,
134,281, 233
Edison Electric 111. Co., K. Y.. 231, 327, 332
Edison Ilium. Co. of St. Louis 516
Electric Co. Stocks. See (Quotation Sup-
PLCMEKT imonthlvi.
Electric Storage Baitery Co. ..841, 888, 1222
El Paso Southern RR 6il
England, Bank of. See Bank.
Englewood i Chic. Electric Ry.180, 330, 423
Sngllsb Correspondence and Cable Re-
port (weekly). See Monetary and Com-
mercial ■■ ngllsh News.
Eqnttable Gas Co 1000
ErieRR 180,373.663,952,1041
Erie TelfgrapU & Telephone Co ...887,
900, 9.50
Evansville A Richmond RR 423, 610, 663
ETansvllle A Terro Haute RR 610, 603
Exchange Market and Prices (weekly).
See Bankers' Gazette.
Exchange, Sterling. Dally Prices of.
(moDtlily). .SeeQuoTATioiiScn'I.BiiBitT.
Page.
Exports and Imports of Specie and Mer-
chandise at New York, Value of (weekly)
See Commerc'l and Miscellaneous News.
Exports andluiportsotthe United States.
See United States.
Failures, See Mercantile Failures,
air Haven & Westville RR 134
Fall Brook Kv 233
Falls Ro.id i;iectrlc Ry 887
Farm Animals, Agric. Report on 339
FitcbburgRR 234,287,707, 952
Flint >fc Pere Marquette RR. 79«
Florence RR 887
Florida Central & Peninsular RR 79
Flour. See Breadstuffs.
Foreign Correspondence on Markets
(weekly). See Monetary and Commer-
cial English News.
Foreign Exchange. S'ee Exchange.
Fori Wayne A- Belle Isle Ry 82
Fort Worth & Denver City By 82. 1136
Fort Worth & Rio Grande RR.. .287, 888, 122i
Fortv-Second Street Manhattanville & St.
Nicholas Ave. RR. (N. Y.) 330
Fourth St &ArsenalSt.8y.(St. Louis). 518, 1041
France. Bank of. See Bank.
Fulton Wall A Cortliindt St. Feirlies RR.
(N. Y. City) 952
GainesviUe Jefferson A Southern RB. . . 516
alveston Ilarrialiurg A San Ant. Bv.. 1137
Galveston La Porte & Houston RR...610, 1041
Gas Companies in N. Y. City 1000
Gas Stocks. See Commercial and Miscel
laneous News (weekly) and Quotatios
Si pplfment (monthly).
General Klectric Co 841, 848
General E eiarlc Ry. (Chicago) 1224
General Quotations of Stocks and Bonds
(monthly). Sf>; stocks and Bonds.
Georgia RR 231, 517
Georgia & Alalama Ry 82, 843, 947, 1041
Georgia RR.* Banking Co 231,1137
Gettysburg Electric Ry 707, 888
Gettysburg A Harrisburg Ry 82
Gloucester Essex A Beverly Street Ry 82
Gold Exports au<l Imports at New York
(weeklvi. See Com and Mis, News.
Grain. See Breadstuffs.
Grand Rapids (ias Light Co 517, 662
Grand Ra|iids & ImlianaRR. 1086, 1088
Grand Trunk Ky. of Canad* 423, 952
Great Britain. .Vec British.
Great Northern Ry 518, 610
Green Bay & Western RR 134, 178
Greenwood Anderson A Western RR..82, 287
Gunny Bags (weekly). See Co. ton Report.
610
1041
423
610
1137
180
423
707
1137
1137
326
Hannibal Street Rv.
arriman A: Nort heastem BR
Hartford A Connecticut Western RR
Helens Consol. Water Co
Hendersoiiville ii Brevard By.,Telegrapb,
ft Telephone Co 423,
Hestonrllle Mantua A Fairmount Pas-
senger Rv. (Phlla.)
Reywood Bros. & Wakefield (Rattan) Co.
Highland Ave. A Belt BR. (Mont, Ala.)..
Houston A Texas Central BR 707,
Hudson Blver <tL- Berkshire RR
Huntingdon & Broad Top Mountain RR..
fUlnols Central RR. ... 42, 233. 7' 5, 952,
1089,1137, 1181,
Illinois Steel Co 327,
Illinois Street Railway Bill 1< 88,
Imiiortsand Exports of Specie and Mer-
cuandlseat New York, Valueof (weekly).
See Commerc'l and Miscellaneous News.
Imports and Exports of the United States.
See United Htates, etc.
Indian Springs <«r FlovlUa RB.
Indiana, Decatur .V: Western RR 41,
Indiana A Lake Michigan Ry
Indianapolis A Broail Ripple Transit Co.
Inillanapiills, Decatur A Suringtield RR..
Inllannpolis HicaturA Western RR
Industrial Stocks, etc., Prices of. See
Quotation Simit.kmk.nt (monthly).
Insurance Stocks, I'riceslnleading Cities.
See QUDTATiiis Si:i'PLEMEKT (monthly).
Interior Conduit .t Insulation Co
International Hell Ti lepLone Co
Investments, ^iiiarterly Article In In-
vestors' Suiii.i-mknt.
Investments and Railroad Intelligence,
37.77.129,171.228,281,323,367,415,
462,510, 559,603. 659, 702, 'i47, 794,
837, 882, 945, 992, 1037, 1083, 1134,
1174.
Investors' SurruEMENT (published the
last Saturday of every third month) will
be found In this volume at end of Jan.
and April, respectively.
lowu Central RK
Iowa Tilephone Co
Iowa Water Co
Iron. .SVf Commercial Times (weekly).
Iron Steamboat Co
facksonvllle Tampa A Key West Ry
469. 707. 754. 888, 1222
Jefferson A ClearHeld Coal & Iron Co 517
Joint Traffic Ass'u 567. 665, 707, 754, flft^
Jute Butts, Bagging, etc. (weekly). See
Cotton Report.
Kanona A Prattsburg Ry •780
ansas Central RR 799,1041,1181
KansasCity A AtlantloRR 134
Kansas City Calile hy 567
Kansas City A Northern Connecting RR. 134
Kansas CItv & Omaha Rv 567
Kansas City Pittsburg A Gulf RR . 134,
330. 460. 604, 754, 953, 1041, 1044, 1224
Kansas City & Southwestern RR. 1041
Kansas Railroad Bill Vetoed 517
KeUey Match Mfg. Co 843
1224
372
1137
754
953
467
0(i4
953
953
888
1001
1219
1181
799
82
41
Page.
Kentucky B,anks 610
Kentucky A Indiana Bridge Co 82
Kentucky Midland Rv 82
Keokuk A Western RR 1087
Kings County Elevated Ry..83, 329, 330,
373, 754, 798. 1001, 1041
Kings County Traction Co 83
Laclede Gas Light Co 134
akeErieA Western RR 371,1221
Lake Roland Elevated RR 951
Lake Shore & Mich. So. Rv 423, 469, 610,
707, 799, 885, 1001, 1042, 1088, 1181,
1182,1224
Lake Street Elev. RR. (Chicago) .134, 177, 873
Lamson's Consol. Store Service Co,1087, 1225
Lebanon Springs RR 888, 12i5
Lehigh Coal and Nav, Co. .41, 371. 1001, 1088
Lehigh A Hudson Rlvt r Ry 83, 423, 1042
Lehigh Traction Co., Hazleton. Pa 232
Lehigh Valley RR...131, 136,373,517,
754,1225
Lehigh A Wilkes-Batre Coal Co 466
Leoiuinster A Clinton Street Ry 664
Lexington (Ga.) Terminal Co 799, 1225
Lima Ry 423
Lima A Honeoye Falls RR 423
Lima Northern Ry 799, 113T
Linden Ry. (St. Louis) 800
Little Rock A Memphis RR 234, 567, 1181
Little Rock & Mlssfssippi River RB 134
Liverpool and London Markets (weekly).
See Monetary A Com. English News.
Long Island Bank 83
Long Island Electric Ky 330
Long Island RR 42, 83, 180, 234, 373,
469, 517, 754. 953, 1001
LouisvUle Street Ry 466.1181,1225
Louisville Evans. A St. Louis Consol RR.
42,423,664,799. 1042
Louisville A Nashville RR.134, 234, 287, 517
Louisville New Albany A Chicago RR.42,
134,234,373,517,567,664, 755
Lykens Valley RB. A Coal Co 330
IH adison Square Garden Co 953
iUahoningCoal RR 885
Mahoning Valley Electric RB. (Youngs-
town. Ohio) 83
.Maine Central RR 234,1181
-Manchester A Augusta RR 887
Manhattan RR.42, 83, 134, 373, 517, 799, 953
Manufacturing Stocks, Prices of. See
Quotation Sui'I'I.e.mest (monthly).
McKeesport Duquesne A Wilmerdlng Ry. 707
.Marsden (Cellulose) Co 424
Marvlana Coal Co 372
Memphis A Charleston RR... 42, 93, 873,
799.1008,1137,1225
Memphis Little Rock A Pacilic RR 284
Mercantile Failures. 67, 68, 271. 501.649,
692. 867, 872, 1073
Jlercbandlse, Stocks of, In New York
(monthly) 86, 289, 473, 665, 903, 1091
Metals. See Commercial Times (weekly).
Metropolitan Rv. of Louisville 800
Metropolitan Street Ry. (Kansas City)... 567
Metropolitan Street Rv. (New ■Vork).135,
330, 888, 958, 1001, 1042, 1137, 1181
Metropolitan Traction Co, New York) 23.",
330, 517, 843, 1001
Atetropolltan West Side RR. (Elevated),
Chicago... 135, 181,234,287,517, 611,1181
Mexican Central Rv. 465. 839,843,845, 888
Mexican National Construction Co 1137
Mexican National RR 517, 563, 569
Mexican National Rv., Limited 755-
Mexlcan Northern RR 611, 619
Mexican Telephone Co 1 223
Michigan Central RR 135, 885, 1225i.
Middle Georgia A Atlantic Ry 82
Middle Tennessee A Alabama Ry..517,
707, 888, 1001
Mlddletown Unlonvllle A Water Gap RR. 664
.Milwaukee Benton Harbor A CoL RR.... 1042
Milwaukee A Lake Winnebago RB 903
Jl ining Stocks, Prices of. *« QUOTATION
Supplement (monthly).
Minneapolis A St. Lonis RR 330
Miscellaneous Seourltles, Quotations of.
See QUOTATION Supplement (monthly).
Missouri RR 800-
Missouri Kansas ftTexas Ry....l32. 469, 842
Missouri Paoltic Ry.. 472, 513,618,567,
800, 843, 1042:
Mobile A Birmingham Ry 518
Mobile A Ohio RR 42, 181, 517, 707, 1088
Monetary and Commercial English News
and .Market Prices by Cable (weekly)
28,68, 120. 162,219,272,312,358,406,
452, 501, 550, 594, 650, 692, 738, 784,
828, 873, 935, 983, 1028, 1074, 1123,
1165, 1210^
Money Market (weekly). See Bankers'
Gazette.
Money Slarketin London and Continental
Cities (weekly). See Monetary and
Commercial English News.
.Monongahela River RR 049, 998
Montgomery Haynev.A Camden RR.611, 800
Montreal Street Ry... 80, 800
Montreal A Western RR 424
Mortgage Trust Co., Phlla lelphia 33Q
•Municipal Bonds. Sec State and Oitv
81UPPLE.MKNT.
Munloipal Bonds, Quotations of. See
Quotation supplement (monthly).
1W ash-vUle Chattanooga & St. L. By.l35, 330.
Ll ashvlUe Street Railway 135
Nassau Electric RR...329, 373. 469, 798, 1042
Natchez Red River & Texas RR 434
Natloaal Hanks. See Banks.
National City Bank 1008
National Lead Oo 872
National Lln-eed Oil Co 330, 468
National Match Co 82
National Railway Association (St. Louis) 284
National Wall Paper Co 1088
New Albany Ry 800.
IN DEX
[Vol. LXIV.
Op
vsaS*^
|%.a>^^ torelMfc juMWy
^ l»»"»»"* *■' ■■■«■■
Artl-
laMUl-
Kf la-
nda. rrlfM of.
.low. 113^
470. 7MJ
><i,ai. las.
1I70.1S33
1<HH
ik'piuLRti.aii.
WM. ■
Paob.
__ ___. ta »l*ai« W. *• QooTA-
TKM ScprUtHMT (monthlTl. ^„„.
bST BiOlltNMl •«»l1tto^ hf QCOTA-
tioii Bi;rrL«i««i«T (monUilr>-
loandlB t*>* Tolume on Fet>ro«ry ei
■«S»l**Kf '"^nrt Tr»cllon Co. EarBlngs.
Miarn liuuie Car Line;. 607
«IT,^ewYork. Daily Tin ii»«c-
StSmmvUI ud MUcellaaeon. News.
EtoeJricKRof Chliano........ 881
rrn^n,pr<-l.lT1nie« (weekly).
121. TOM, 7U, »55, 1009
Bum I
sail)'
t<uu>
MID' I
, RR
■'.•iid'co...
T»^ .
T»v .
T11J.V
Pt
1043
1043
7»»
...85, 844
1043
I.lKht Co.... 6IS
York BR... 424
665
666
IvanU 1043
288
,.*, etc,,
I.EMk!«T
1 ItK .
,w roo*«i
•94. 1043
.. »%4
. lai
, 1181
•64
lei I
Ten
Ten
1f\
matioD *
te4iit .c^m^i.ui.iuffu
367
tri.
I AattfBi'
re Bf.
1>M
71m
70«
12
' -1
s»l
»»4.I1S7
IIB...
BaiaaaiM 1 Wr;tlA A \Vr*tarii '
lltfO
182
M. 1 sa
!^ I laraaaak lUM Traction To
'-'• - - thaadrrbolt A lal* o( lluiiu U>
nMMoaOo
Rjrat AlatHuoa..
lialinaMA NMUwka RR.
1228
1089
1081)
8S
8S
1002
■1 u>....
.1.%, 472, 661
-bario
0!M
331
23.^
058
33511181
23^
'■^1.1089
;T.'ir s2^S
7M
47*
*«.UNa*RH.
mm < ^MMii i lal «••• 1 * klf 1
Baywta l4A.li7?.'nA,6«l4.tlM
I MataaaM aM IfV* • n««t*
"■ :. .'1
and ImimrU at
<' I Cam. und Mia.
nr Um
..rt».
314
. nuliUil Oo 1043
-la KB
Kv
SaetOeURotCal
r.<S3,SSl,87l.^34.ai1
AM OcMaad !-......
~ 1 iTt I KlMtrte By.
ICIaaUditrD
Ion i>l\ l.trnil
.468, 1002
'■2. JST
I I ■;'»
..lO
«U8
- ^'1.
L 11.1136
1138
707.
708
42.
>4. 848. 1228
1043
... 1000
888
KK.2S8. 424, 708, 1002, 1228
A UR.C0 135,606
135
ilnnorStLiOUia — 616
„ 1188
466
12. M5.
7 1,467. 1043
46T
614, 707
nn 616
664
..V. 708
. ...ft. 1138
1002
iiie» (weekly).
l35. 567
r«ir.i.. bt. L. * Kuu. C. liU 42. 1 82. 288. ^^^
Tran. MlMOar. FrelgUt A..ocla.^ou..612: ^^^
TreaMin. .«* U. S. Treaanry.
T..-..1..1. I'ntlPrtM f/<> *»'
■(■ct<irT Vrlutlng * Bookblnd-
■_ 612. 708
.,..i,i... ill Ni><r York audB'klyn. 183
li.,, K*. .^e Bank and
T. i'k«.
Twii, >.; ,.. ...iiisltCo 704
IT nlon Drpiit KK. of St. Louis 718
liii..n I'a.ill. i;^ li.x.-V.infl. 182,239,
713.758,
112, 1043, 1228
Uei. ■'• *•*
Vn nil I'iiiiiii- J.iuc»ilii .V L'liloindo Ky 713
Uulou KR (.V. Y.i ll> .•*lii'.-l) 182,1043
II11I..11 r-tr. ir Uv i>iii;liiaw, iMIcb.).. IO45
Ui. N.J.i 936
Ui. .;iiiv (Phlla)....l!>6. 182
II, iitlcnCo 662. 844
III, ., (.St. Umlii) 843
Uii, > Co. (Reading) 177
Uuii . ■ Hond»lleld to Secure De-
uoiilU mid CIrcalstUm (iiiouUilyl...l21.
360. 454. 652, 936. 1125
UnlUd 8Ute» Car Co 236,1181
United State* Debt StHteiiiont (montlily),
lUl. 271.4!t8. 649,9a5, 1072
United RUtea Electric LlithtCo 80O
UnltedBUte* ExpreanCo ;.. *»
United State* Uoremoient Revenue... 69,
273, 454.651,874. 1075
Vnlted Slates Imimrta and Exports
imontblyi IKi. 452.593. 738, 1028, 1210
l'i,n..i St .1... l.eatlii-rCo 182. 422
Uii I. I'Bal TeuiliTS and National
I • V .Movements, Ooiiiptrol-
1. •'■^ -11 ;i-.'i. 4^4. (191.937. 1125
Ui, -.i^e liv (iiionth-
. I 4.'6!I4,937. 1076
\:u... .. ..J... ^.J »»8. 1002,
1043. 1089
L'nited State* Securities. Market and
(>ri..... .w....kly). ti>e Bankern' Oszetle.
I I .. of at London (weekly).
( and Com. Kuk1ii-Ii News
,1 .v,fyc<)T«TtOS8Urri.E»IBST.
I' ailed Traction Co IIM.
Uuh Central RR 713.800, 9S5
;». 1238
4 i. ..^uo;ij44
•yAT«.a*t> <Jtil ativrMkMfckt will b«
** *'"*J'**n9M April 10.
IUfHTMB>ii lilt
W. ■
.381,
• -n,
...»»(waek.
IirrkaTM**'
987
1159
:K 108»
nliwpstcrn RR 707
i. . (Street RR... 17 6. 288,333.
424. 488
We«t Knd Street Ry. (Boston)... 183, 236. 9^
WrotSiiiM-rliir Iron * Steel Co 138
Went VIrtflnl • CrnliMl ,\: I'lttoliiirK Ky.... 333
Wrslem Kn.|i;lit .V t*>umMii;er Association. 665
W...i.rii i.-t' <■" iMilw.iukce) 1043,1189
\v. 178
W .11 RR. 136,333, 003
W. iliOo. .518.758,
1043, 1139
WestlnRhoiise Kleclric .k ManuPg 1222, 1228
Whi.it >.< llr..;i.l.liilf«.
V Mlon 114S
W IV 85,182,236,
.713, H55, 1182,1228
WlU.n l;..iiejli Wjoiiiiiig Valley Trac. Co. 607
Wililsm Cramp et Sons Ship & EnKlne
llMtidli...- 1" 612.1238
Wlliiit' <>la.V .VuKUnto RB.... 887
WlliM. ■ N.>rf..)l( KU .^68. 1043, 1228
WMii.i' Miern RK 94l«, 908
« Icn KR 333. 8*4
W UK 713.844,903. 95ft
w i ^ ... New York City 9M
WtumlBKAMortiiweatem RB MC
mmtc&
TUB ,./0'fnrannai
Quotation Supplement (Momwy) street KailwaySupplement (quarteri^
, Investor6 Supplement (Quarterly) Stale and Ci^ Supplement (§mMmi^
[Katerod aooordiag to Aot of Coagre^s, la tbe year 1397, by tlie William B. Di.sx Ooicpajit, In tbe offloe of the Llbraiian of Clongieat.
VOL. 6t.
SATURDAY, JANUARY 2, 1897.
NO. i,«45.
PUBLISHED WEEKLY.
Terms of SabMsriptloa— Parable in Ad ranee:
ForvyuD tear $10 00
ForSiz MuDths 6 00
G^ropeaa Saaauripuou'iuuiutUngpuiiUMel...... 12 00
Baropeau ^ubocriptlObBlx MonchedaolUiUuK pusutge). 7 00
A4aa«l 'iahaoriptlos Id London (Inolndlni; postage) ....a 2 IOr.
Biz Mo«. do. do. do. ...ai 10s.
Tiie (Hvitsruas' dUPFLSaciiT »U1 b« tnrnlnbeil willuftt extra eiargt
ti every •naual aubocrlber of the Oouxkrciau kno Pinasoial
Obbomiols.
The iTATa ano Crrr BapPLEME'tT will aino ue faralahed withoul
Ixlra ehargt to every aubsorlber of the Ohkoniclk.
The 8TREKT Railwat SrfPt.KHKVT K'll !lk 'Wise be furnlshod mlk-
oul extra cUftrtfe to «very y ■ . jsicle.
The iJuoTAfioM Sci'i'i.. vrill also be faratshed
wUhout extra eft-irge to e\''- ' 'HKOIflCLK.
FUe oorera are gold at 50 ueain uiicu; ponCitKe no the same Is 18
•ants. Pile oorer for sapplements can be bad at ollloe for S5 oeuts or
mailed for 80 oents.
I'erms of A.(lrertl8iQ<— (Per (ncn 8pace).
Una:tma. $3 5U i Three Muattas (13 Uiuea)..a2&00
Oaa Honth (4 times).. 11 00 Six Months (26 " ).. 43 00
Tiro Months (8 *' ). 18 00 | Twelre Months (52 " ).. S8 00
(The above terms for one month and apward are (or standlnR oarda.)
London AKents:
Msssrs. EoK Altos A Smith, 1 Drapers' Uardens, E. C, will take sab-
i arlptlonsand advertisements, and supply single eoplesof the papat
at la. aaob.
liriI.I.iaM B. DANA OOnPANV, Pnbllahera,
Pine Street, Corner of Pearl Street,
POIT Omoa Box 958. NBW ¥OKK.
oitoHmn
Week »n<tino D^cettitter ?H.
181M.
New Tor... ..
Philadelphia
Pittsbun
Balttiuure
Buffalo
WashiDKton —
Bochester.
STtAciifte
Soraotoo. ......
Wllmintrtoo......
Blagbamtoa. ...
Total Middle..
l-tS.SSI.SSS
]2.U<tl,.'i8d
l<,a7n.3 B
4.I4S.M&
I,iai57.t
l.;'urt.s!ti2
787.57:
ii.it;,8;2
2J4.U0II
CLSARiyG HOUSE RETURNS.
The foUov^iag; table, made up by telegraph, etc., indicates
that the total baak oleariags of all the clearing houses
of the United States for the week ending to-day, January 3,
have been $H47.9JU,e06i against $874,819,881 last week and
tl,137,5.)>,50.i the correiiponding week of last year. Figures
in eaoh year cover only five busine.4s days at most cities ia
oonaeqaenoe of the Christmas holiday.
Boston
Providence.
Hartturd
New lUTen.
Bprtnxaeid
Worcester
Portland
Pall RiTsr..
Lowell
New Bedford
Total New Ung.
GbiojMfo
ClnolQuaCl.
Oatroii
Clsreland
MiiwauKss
Coluuibas
ladiatiapolls
Peoria
Toledo
8rand Baptds
Dayton «...<
LexlOKton
Kalamasoo
AkroQ
Bay City
Rockford
Sprtncfleld, Ohio...
Canton
Tot Mid. Wnt'T
Oiata-Mos.
(Mvrns l>t TUffraph.
New York „....,
Boston ........... ...........
Philadelphia
Baltimore
Ohloaco. .._......
at. Loau ....................
Mew Orleans _. ..
Seven oitles, 5 days
Olber oitles. 6 days
Total all oitles. S days ..
All oitles. 1 day.
Total all oitles for weak..
Week BntUnQ Janwiry2,
1897.
$360,008,787
S4,-2r.M70
3a,r.'«.»2l
8,512.880
63,827,059
16,535,598
7.599,453
«54O,0l2,788
116,8.}9,42«
"atfSe, 552.2 14~
191,378,892
~Sil7,930.900"
1896.
•318,657,946
85.538,303
63.413,289
12,806,414
73,737,511
19,919,087
8,434,275
i784,706 825
132,401,483
i017.163,3U8
220,387,195
«1, 137,555.503
Ptr OtiU.
The full details of clearings for the week covered by the
above statement will be given next Saturday. We cannot,
ol course, furnish them to-day, bank clearings beinj? iiiaJe
up by the variou-s clearing hoases at nixin on Saturday, and
hence in the above the last twenty-four hours of tlie week
have to be in all oa.ses estimated, as we go to press Friday n ight.
We present below our usual detailed figures for the pre-
vious week, covering the returns for the period ending with
Saturday noon, December 36, and the results for the correspond-
ing week in 1895, 18'J4 and 1893 are also given. Contrasted
with the preceding week, and largely as a result of the holi-
day, there is a decrease in the aggregate exchanges of two-
hondred and twenty-nine million dollars. At New York
alone the loss is one-hundred and thirty-four millions.
In oomparison with the week of 1805 the total for the
whole country shows a decrease of 21 -9 per cent. Com-
pared with the week of 1894 the current returns record a
(ntin of 8-1 per cent and the excess over 1893 is 13-0 per cent.
Outside of New York the decline from 1895 is I.dO per cent.
The incr<n-<e over 1894 reaches 0-1 per cent, and making oona-
piriaon with 1893 the gain is seen to be 93 per cent.
8an Kranciioo
Salt Lake City
Portland
Los AnESlea
aalsoa
Tasoma
Seattle
Spokane
Fargo
eiooz Palls
Total Paolfle....
Kansas City
Minneapolis
Omaha.
St. Paul
DeOTer
Darerijjurt
St. J'liiepta
Dea Molnei
Sloai City
Lincoln
Wichita
Topeka
Premout
Hasting!
Tot. other West.
8t.Lonla
New Orleans
Louisville
Oalvaston
Houston
Savannah
Richmond
Memphis
Atlanta
Dallas.
Nashville
Norfolk
Wooo
fori Worth. ...
An'.nista
Blraiinfliam
Kn.ixvllle
Little Hock
Xacksonvllte .,,
Chattanooga.....
Total Sontham..
Total all
Outside N. Toi
Montreal..
Toronto
Hallfj
Wlnnli."'
Hamilton
St.John*
rots 'ia-.«da.
B7s,sas,3:2
7180)301
4,77 ViOi.
t,7v8,635
i.or^ 111
i.< em 631
l,u<iu5^a
77&.16a
&30.««3
a7i.ii(i
1S1I6.
s;.»)i,3«e
73.04 i.eoi
10.36045.
&.V<ll.3<8
4.KI, e7
».77M.2Vi
3,.'<0i>.u0"
l.«2-l.848
l.2li»«4
l.&iS.8B3
8lil.46»
C30.0I1U
t3a,u»'
»iM.Bo2
a46.ci>
21&.iini:
IM.OPS
iea.»-o
108,uaj,407
10.S20 MS
1 7wi.voa
l.27u,&t>.'<
036,1411
«I6<10
S«1,^W7
46l>.27e
6r«UIII
100 mxi
•louoo
lil,88u.86e
».a«O.UM
a,Tk8.MI>
a,&3S)l0j
S,U4,53i:
)l.li8.«33
417.743
1.16O.O0O
7l>0,472
««4.2S<
Z:<.2V4
32S,-cl3
B( 5 0011
e».ll70
05.000
2k,UHl tii7
«0.0 ■2.77S
H.7.'-I,WI»
5,^84,06.1
*,2UI,kS0
3 l« 0.000
iMt'.tii
i.Vtl.ObO
1.81 t,<a)
1,401,31!
1,:1IKI,0'
8«l'.501
l,074,l)J5
&31.HU2
«27.214
IMF OU,'
afB,:ni
».S7.7^0
331.212
l»^21l
2t3.DUO
57,1&1,UI)1
8lW,8oS(,2ad
8i.4l4.H.4
lS,Ul,Sil
13,V42,3t2
4,0I»0,41U
1,7I8.4U
l.:'8i»U
B.3.3J4
861.151
a812(!U
.'III .lilo
7*7 464,50:
88.U8,730
5.00«.ftO
».0'J-.8SI
1..175oii
].«ot,.4in
l,S"2,73u
Itoi.u&j
67S.7I17
_40j,6l
ISDO.
P. Onu I
10.i.ait.3;u
83,835,031
I0,;i3,7o
S,0lll.U.5-
6.aiu..<s
4,3<lt.l'i7
3,i)<i7,10vi
1.87 lluc
1,M().14I
l,37v,eil.'
4U23I)I1
«!»,«;.
3ia,4M<
2lj.4no
2^3,401!
213.7. ;<
!!2<.e02
I40.i:>i
liu.lno
Ul.SiH U2U
ll,A71.11l
1.1S7,»,17
8I7III
1,000.01)0
ftil.lMi
404,382
4-«4,-.l0
3«S,0He
122,611
7»,4x6
18.872.73l
8,408,«47
7.420.274
4,lfl;.*.73
1.&14.'>IM
>.6r,<,g83
l,06.S00e
l,iua.iiou
850,000
4U»,a71
»>7.K0>
60u,d>0
6jU,6<)2
06,216
«T«.2«0
32,147,022
l»,r90,243
ll,Ud«2i8
4.S74.4S6
2,8tll,2«0
3,043.724
2.«uT.743
l,»IM,t8l«
l.S71.'«l>
l,67 6.20d
1.48l.u0rf
810,815
1,069,468
8A2,61B
578,176
I-U3,kl4
422,178
2S3,«18
221.311
216,11811
67.763,137
g74.3tB.8il 1,120,840,886
386,U«8,64S 454,281,418
10,000.000
6.2UII 407
1,065.681
1,6 '2.124
614,785
—28 7
-:ii) 2
-16 1
—11 2
+ 1-4
-17-3
-5 5
-Itfl
+174
—147
-27 •,
-IDS
— 18
—11 a
-22 5
— 26B
-an
— li s
—11
-85
-S.
-15-
-12 2
-31
—110
-10 1
— l,'l
— Ii
-13
-W
+811
— 10 i
—116
-231,
+11
—11-2
+00
—28 8
-511
—11^
-17-8
+47
+50
— S7 «
-se
—164
-61
+42 2
— lB-4
—62 3
— lu J
+18-«
-8-4
—161
-il-8
— 18-5
— ao-B
— 3-f,
—CO
-14-8
— 10-9
-313
—0-8
+4 1
-8-7
+1-8
—18-3
+11-8
-{•17-6
— fl
+07
+6(-4
-11)
-110
-12-2
-08
+1-4
-13-8
-1-8-4
+16 4
-at
-8-4
+132
-11-3
+3-2
11,850,370
7,3a<.531
1,286,841
1,181,060
582,864
Ismi.oOll 03IP«I8.VI — 18'7
-10
-218
-160
— 16'3
-26-4
-u-e
+34 -a
-U-T
4
''42.
377,
VIO.
lUi
;«.«i^
.^P2
138,
785,
730
6i2..
2 1.1
it>»a.
1.0' -('
—20 V I 028.705,, 71
e8,23e,llitl
6.i'21 «.«'
2 U13,l)3n
l.lU2.34y
l.l'5U,i3!
W.: ,'!13
L' 32,.i81
782.78'
ltf.^,1100
2:4,11s
80,8,1,176
70.1.16 021
10 97»,4iX(
4,i'i» >m
4 02u,684
y.4'*;i.U3
3,21(1 lOu
8,'«I3I
1.678,638
•ieVsoo
281,76
818,800
831,762
286.727
2:i2,9M
131.776
111.1X2
101.441,286
11,037.281
1 681,14811
WI7, 68
1,410,211
737,40>l
4S.>,I13
440,623
201,8mI
88,807
47 771
428.1.12, 0T»
4a.M7,02S
10,79^803
11.2 .I.ISS
:<,3»rt.«J0
1,225,193
l.'!'»,7ie
728,632
640,861
281 4aa'
807,102,227
67.151.589
3,H|ii).»00
1887814
1 1 27 JB'
1,081 177
861801
1.021.e7*-
><83.tS4>'
488.40 {
141, SIO'
78.171,1S»
70.1ie,8e0<
ll,66il.0<X(
4,681,168
3,878,000
8,61 1, 4S7
2,128,490
1,00.1,001
l,S12,4CO
646,»»7
S8il.lS6
200,000
ui.ieo-
227,778'
189 70(1.
140,744
1 ll,8»
17,028,378
7,827,^83
4,<137,9';a
a.tcoooo
3.120,202
2,481,718
I,S(m.322
800.314
4&:) 264
428.281
52«.8ny
648,101
8-.158
73,579
100,747.628'
10,527,156'
1,216,I3»
83a,24S
818,364
36(l.00tt
468,051
826,330
286.778-
8a,3S»
i4i,4eie
16,144,14{>
7.274,886;
4,858.737
6,077,688
8,817.4 88
2,ota.ooo
26,031,079
83,147,80«|
8,487,1178,
4.188,34X1
3,048,3:^0,
3,1B.V87
2,3i'8 618
l,l'58.82B
I,c.08,6l8l
1.870,8161
1,302.182.
024,111
871,326
637.34:1
6U5 481
786,274
378,812
3^.637
886,041
173,884
64,642,189
808,788,887
384,867,126
8148,847
4,4'JS,707
8a,<l.478
881..'i84
661,180
1,677,184
896 03)1
617,74»
488,318
488,130'
400,870'
74 88»-
go.o oa
28,167,711.
18,784.06S
11,138,447
4.798,701'
2,643 88£;
3,0.i8 803
1.884,01B-
8.« 47.875
l,136,»3e
1.064; 668
l,C84,7i:i;
75S 162
76S,70J
600,000
661,046
230,646
S27.677
154.988
62,647,883
780.870.880
16 0t!8H24
• Nat Included la touis.
362,8«8.8«»
8,666.608
6,286,886
947,680
664,781
I6ji04,g4<i'
THE CHKONK^LR
(Vol. LXiv.
AiaMl ra«te«. OMlaiaiaf vwf ciMMirt AMlhlj •«•-
•r Ik* •vMta m4 iMl4««ii e( Ik* jmt ia th«
tM»Bi*l airkili. W« Uk*viM pablUh ear
IfttataM Ubk* of prioM— tUMki. b>adf,
llTMMMt MMrilkiu 8m* MoinliM ftoJ (orciKQ ex-
laatedlac I^m* UbiM. tb* mUAv ooran
»p*C«^
r/?jr rnfASVUL arraiTioy.
Aatk* j«arotd*M ■• deabt •*•• iadaitri«l ooadi-
I M« ha ffsUfTiac tb«a th*r v«r« ft 7Mr ■CO' Bat
«m tka wImI* Um bo*ia«M oaUoek U iaoomptrkbtj bat
lir. Of tW U« ftKfMftbl* fMtaiM ft Mhouft dftvelop
bM bftta U* iMolvMioj ot aiftar bftoka rvoentlj
b9 Dliilig •( which hM bMa followtd b;
MIbim Mioog olh*r ooapftvifti ftod iadi-
tMmI liiihw I^c^^ *o ^ 0*"** of tbftt fftttur* ia
ih* ftilmtlw b fiia*d vb*a v* raatmbsr thu the Hit
•f IftldhiH hM bMB grovios ftTftr liooe tb« firtt of
Jmlj, aai IhU ap to thftt dftta botb thi nombtr of cm-
■altkft ft*d th* ft«<Mat ot tb« lUbllitifti oonptred wall
wtth th* pu fiW M tvo j«ftn ; iadaed tbe c9-Bm*roiftl
liftbitittM t^* firat ail moatbt w«re Ism tbfta ia 1894
•id oalj 9 aUhoi doUtn Ivgu thto ia 1895, bnoi;,
■fOMrdiof t* D ja'« Rim* (lint 6 aoatbi) 197.869,688
• ISMftCaiMtMS^Mtlio 1895 ftid tlOl.733,306
I ft ISM. Tbft iMMtM ia 041041 .iM «tac«theflrtt of
Jtlf ia vhollf Bft'arftl. A aadifto, dooidod cbeck to
iBJMliial ftfOtiTUy ftt ftaj time, laob •» htppeoed at
ahMtIha apaeiDg of tbe ourrftat fitcftlyear, mait of
tmlf hftTft prorad ft •eran t«tt wharerer fiaancial
•xia(*d. Pfoloajc tbat atoppage to buiineas
I for fear aioathft— an ezpariftno* trftdera had
tikaviaa to paaa thraa^h thi patt autnoier— aid the
oitei* of IhoM aaabU to andare the atraln of courae
I idee.
•ettoB ft paealiftr atat* of affitn haa ox-
la thft Biatara aad M>ddle aeciioat decided
laliaf hfti baao foit, bat th* Hia-.hera and Weatera
SIMM. atpaoUUy the latt«r, the traio of vhic<i ia
Uffaljd'fftodeat apoo OaioiCJ. hare aaffart'd. Tae
4«««lapaMata la that city tb* Ar4( week ia Au^ait
vhieh led to th* im<M4i*t« oUiio« (Ancait 4) of
iha 8toak Baehaa|a tkm; ar* well remem^Mred. The
TalsM eC aU aftoarltiee aiaialr aark^tod ihroagli that
oaa to r v«aBftUraliyoaoa(baasettled aa 1 dep -<ia id by
the •vast, aooadtttea vail lad catod bj the circa mitaaoe
that the Baahaafa did BOt flad it conVenient to opsa
•Cftia antil Xeveabar 5tb. What reaalt other than
■ntd eMid b> eipwad— that the btnki at that
•hiah aaiplajad riakf baaiaeea methoda with
layaslaMiM at haau aad elaewhere a'lould b)
f jTJftd iato Uqaidatioo f Kothlof abort of an old time
haaiB aoald have proloofel the exiitoaoi of tbe Biik
af Illiaaia a Mffisieot tim* to permit ita ftffaira
ta be pet iato a Mf* ftad ooa^rratiTe abipe.
▲I the Mae time, while it i* trae that
hMi epaJNa eveala bftve had ft wide aafar^ra'ile
laflaexr, they do aot bj aoj smim wholly ftcaoaai
fOTthaexiaUag eitoatlea evea ia the Weat. Oarreat
fftilarM w hM fttef they lure ocoarred are dae largely
Mlhetfiali throagh waiob w« h*re pataed aiooe tbe
4m o( Jaiy ftad to the farthtr f«ct that the Weat ftnd
HMth have aherel bat liul* in the relief which haa
falliwtJ iMelMtiea. Tae ftffriojltarftl eection* el waya
•affar bmI aid leafMt (rea a ware of diMredit. Tbia
ia true bioauta (a«ir proipsncy it ao lacimacely ooa-
oeotod with aad depiadeat ap3i a free iafl >ir of oat-
aide eapital.
Bat the great qoMtloa now raUtss ti tha fatare. A
Mv year haa opiaed— whU hat it ia atora for oar in-
daatrial intereaU? We are not psrmittoi to doubt that
fti tbe montha paa fta enlargdi msaiareof astirity will
deTftlop. Important coaditioai iniara th»t mioh at
loMt. At the aamc time it a)emi probible thtt the ex-
tent of thii growth will depend to aom) coaiiderable
extent upon circamitonoea not fally devebpsl. For
iaatonoe, there aeema to be a concensas of opin-
ion thit we are to hare an extra aeiiioa of
Congreaa aooa after the 4th of Miroh. It would
be untrue to »ij thit fiere ia no aaziety in
ba«in4aa circlea on that acjouat. Gould ootioa at
auch ft aeaaionbeatrictlyooaflaed to an iacrease of tiriiT
rfttM and fta improremsnt ot the currency situation,
the diatarbtice would be ompiritirely imuiterial.
Bat tha aaggea-ioas male ii hig^i po'itio<i< circle) with
reference to ailrar ldgisla':i)a a id leglsUUoa looking to
an icteraatioaal coareation ia ch) iatarait of ailvar are
beoomiag ao frequeitaal promiaaa; thit t^a pa')lic
feeling ia not ai reitfal ai it wai. Aiy agitation of
ihataabJM*, aid eipocitlly aay oquattiag or appear •
anoe of a williagaesi to oompro'niia with silrar would
oodftnger baiineii iateraats and ia very uideiirable.
TheM and other troublesome discussions possible to
come up if the new Congress should be ctllei together
early, maka merciutile and financial circles feel that
if ftn extra aeaiion could ba omitted it woull be ft
bUoaed delirerance.
It is gratifying to heu* that Judge ilferr, in the Dis-
trict Ojart at Oskaloosa, Kansas, fiads on consideration
that the Alien Land Liw of Kansas uader which he
appointed receivers for the Atchison, does not apply in
the Ciie of railroads, and has accordingly resciaded his
former action and dismissed the receivers. While this
is very sitiifacory as far as it goes, it ia a striking
commenUry on the practice of judges in granting
applications of this kind on ex parte motions. In
the present cmo the receivership order was is-
sued without argument and without notice to
tbe company, on no other ground than the
allegfttiou that the company was violating a
Stftte stttute, which fts it now appears, and appeared
at the time even to laymen, does not apply at all. It
ii ft aerious matter to throw a great and perfectly sol-
vent corporation into the hands of receivers, and the
coarta in acting on motions of that kind should pro-
ceed with the ntmost deliberation. This is especially
true when, aa in this instance, the surrounding circam-
sttnoei so ole«rly iadiotte th»t thi motion is a wholly
untenable one. The fact th»t the order has now been
dismissed is of coarse anaoknovlelgmeat chatitonght
never to have been issued, and certainly had argument
bMa heard in the first place it would not have been
granted. The exporiance of Judge Myers should lead
to ft reform in court practica in t his respect.
The feature In our financial mirke ts this week has
been ft material fall in foreign exchanga. Ilttes had
already began to weaken last week, but the decline
linn* then haa beia much more mirked. Taa move-
ment it especially noteworthy beciute it has come at the
cloM of the year at the period wjon wa always have a
largo debt to pay the oatoide world for interest aid divi-
dends on capitol invested here and also bsciuse Baro-
petn ftuthorities have boen looking to this occasion
fjr a return flow of gold. The dejline then
Janxjary 3, 1897.]
THE CHRONICLE.
3
at this JQDCiure tells us that the first of
January payments have all been provided for
and that no shipments of the metal are likely at
present. An interesting fact is that the year (1896)
closed with rates for actaal bnsinets 4 83f ^^4 84 for
long, 4 86i'34 86J for short and 4 87@4 87i for cable
transfers. List year (1895) closed with rates for actual
basiness 4 87i@4 87f for long, 4 88|@4 89 for short
and 4 89i@4 89i for cable transfers. So long as our
merchandise imports remain abnormally small and
nothing is done at Washington to disturb credit, the
merchandise exports will cjntinne this year large
enough to prevent any outflow of gold. Baikers look
for a further drop in exchange in January.
The "Railway Age" of Chicago has published its
usual yearly statement of new track laid in the United
S'-ates, and the total of course is found tn be very
small — only about 1,800 miles for the whole country.
According to the "Riilroad Gazette" the total is
even smaller — only 1,692 miles. The aggr«»gate of new
mileage built the previous year, according to Poor, was
1,922 miles. The amount is in either case the smallest
for twenty years, and indeed if wa except one year it
is the smallest for thirty years. The maximum addi-
tion in any twelvemonth period was in 1887, when
nearly 13,000 miles were cmstructed. For the whole
of the fiire years from 1892 to 1896 inclusive the ags;re
gate of new track laid has been but little more than
this total for 1887. Xor are there at present any indi-
cations of greater activity in the immediate future.
The Pennsylvania Railroad in its November return
again shows a very large falling oS In earnings, report
ing $1,931,900 loss in gross and t8Sl,300 loss in net on
the whole system eut and west. But hardly any other
result could have baen looked for. Tne news of Kr.
MoKinley's election brought considerable revival io
business, but the movemtnt did not get sufficiently
under way in that mouth to count in the month'o
results, and during the early ptrt of the month oar in
dustries were more deeply depressed than at any previ-
ous time in the whole year. We furnish below a compar-
ative statement of gross and net earnings for six years
on the lines directly operated east of Pittsburg — the
only part of the system for which we can give such a
comparison.
PimnoBa,
OroueaniUun
Ovtrat'g •xpeiuM.
lf«t •Ainliuca,..
t/Mt. 1 U Sov. .10.
Qmmfminif. ..
OMnu'g •xpcoMM.
Mat •srntn.ra
(
a,430,i'rg
1,'; 88,2V
M.Mt.m
%0.3M. 01
189S.
«
•.877,121
«,-!«8,8M
lg»l.
(
&,486,<l«'
S.«e7.t70
2.0011^058 i.aoe.zti
M.9ST.S72 tS.6S0.lVr
U.004.«0I M.768.874
t■>^»■^.^^vla.■n•l.)m
isas.
*
6J88.15t
8,W1.W0
«1.07«.37t
43,40«,31&
ISM.
t
a.0I7.«2
1.13J.I7r
«tMe.<>?0
M,<U.I1I
19.1PI.WV
1301.
(
e.«B4.72S
tlv783.851
I,IK0,9T1
41.M0.010
4i.;is.a«e
Wnat ic> true of the Penusyivania Rtiiruaa is true
also of the o'her roads that have this week submitted
exhibits for November, with the further proviso tnat
in the case of the Northwestern lines the spring
wheat movement io 1896 fell much below the pbenom-
enal movement of 1895. Following is a four year
statement of the gross and net of a number of roads.
18IM.
IMOO.
lt»V4
ltl«3
aumftfHoat—
1
(
(
*
AMtaUoD Top. A Mata.'Ta.
.aroH
«,*ll,»0i
2,mi,M3
t.(W,-»9
3,«10.22e
Nat
IMS.H10
013.329
l.OS't.M?
I.17!.:«a
OhoadUn Pviin«
.•JrnM
l.Wt Wl
2.l?t».ny5
l.VIS.IftH
z.oi'i.sa?
Nat
8«'AltS
i.oos.ooa
815."M
817.31*
Map«aka & Oblo*.
• '>rou
Nat
87r..')35
W7.1&7
tm.ua
71»8,9f'l
til.tSO
76K.77B
St -'.10
Oblaaao Bnri. t gulner...
.Orou
*.B»S.30»
».201,»H7
2.74t.=.St
3.2»H.O:lS
.<«*i
l.HUOlO
1.3»i.»36
1.010.007
i.is.i.jfe
eUc*«oMll.a St. Paul ..
.Oroal
2.7»8.6t0
3.«18.«-I7
2.SI|i.01t
8.ifiso:8
Nat
1.838,628
l.e43.H27
OnS.IM
I,27S..iOl)
CtoraUod Ctacia A Boutb
UroM
M l&i
8>.a»0
56.7»1
8i.0fl»
Nat
S.Ofl
13.UWI
11.961
tf.tea
«•». an. Ch. * St. LoDi*. .
.arm
I.OIB.-M'
l.S'V.«fJ
l.int.TM
1. 1)0,038
Nat
US.tM
8M,)7t
327,128
«85,2BJ
Same of Road—
C. C.C. *3t. L. (Con.)-
PeorUA Butern Sroii
Net
a*. Southern & Fla Srou
Net
laws Ceatral Oroat
Nat
Mlonaapolia It St. Louli Oroai
Net
Northern Central Uroaa
Net
Rio Grande Southern Oroaa
Nat
San. Ant. k Arana. Paaa ...Oroaa
Nat
Soothem Railway* Ornaa
Net
Wabaab Oroaa
Nat
Weatem ."f . T. A Pa. Oroaa
Net
188«.
4
111.394
10.829
74,660
26.851
136213
30.162
170.191
72.811
661.N97
189.841
37.417
20.190
233.001
M.968
l,8f)l,17«
622,488
908,811
228.061
261.376
Smmibtr Jtammga.-
1395.
«
ies.972
37.68S
78.100
13.011
181.416
60.398
195,198
92,010
»34,S3S
179.878
54,0ai
31.310
187.9J6
63.618
1.887,341
716.080
1.08^.6S3
289.178
SU.O-iS
94,137
i,04e
»1,1>2
Currency is again flowing to New York freely. One
bank tells us that some currency sent to Chicago last
week has been returned in the package sent, seal not
broken. Money on call, representing bankers' bal-
ances, has loaned generally at 2 per cent this week,
with some transactions at 1^ per cent, and a few
yesterday at 2^ per cent, and the average has
been a small fraction below 2 per cent. Banks and
trust companies quote 2 per cent as the minimum.
The business in time loans has been small and rates
are firmly held at 3 per cent for sixty to ninety days,
3^ per cent for four and 4 per cent for five to seven
months on good Stock Exchange collateral. Not much
has been done in commercial paper. The supply is
only fair, while the demind is limited to buyers other
than banks, and rates are 3f @4 per cent for sixty to
ninety day endorsed bills receivable, 4@4i per cent for
first-olass and H®5i per cent for good four to six
months' single names.
The amount of gold obligations turned over to the
Sub-Treasury in New York during the week in ex-
change for legal tenders was about $450,000. The net
gold in the Treasury continues to increase. The
amount officially reported from Washington Thursday
of last week was 1134,725,781, while on Thuriday of
this week it was $136,746,473. There have been
reports from Washington this week that an arrange-
ment was nearly perfected by which Spain would
accept the good offices of this Government with a view
to restoring peace in Cuba. It is possible that the
basis for this report is that Spain has at last replied to
the proposal of President Cleveland to mediate
in the Cuban war. A Havana dispatch states that
Prime Minister Castillo is satisfied to have the law
passed by the Cortes February 17 1895, which was
promulgated a few days before the revolution broke
out, carried into execution, and it is said that this is
the only possible scheme of reform that can be granted
to Cuba. The dispatch says that this law is not entirely
satisfactory to the American administration because ita
proposals cannot reasonably be expected to be favorably
received by the Cubans in arms. It is possible that the
Spanish Government has receded from its position,
taken when presenting the law of February 1895, and
that the report from Washington above noted is in the
main correct and that mediation in a modified form baa
been accepted.
The Bank of England minimum rate of discount
remains unchanged at 4 per cent. The cable reports
discounts of sixty to ninety day bank bills in London
3f per cent. The open market rate at Paris is 2 per
cent and at Berlin and Frankfort it is 4:^ per c»nt. Ac-
cording to our special cable from London the Btnk of
England gained £349,172 bullion during the week and
held £34,158,899 at the close of the week. Our cor-
respondent further advises us that the gain was due to
THE (IHKONICLR
[Vol. Uav.
W MtUJtm Ml tnm Ikt lotari«r of OrMt
BdtaU Mi to tk« iapaciW XMfOOO^ o( vyah £84.000
I ff«a AmUnii*, rs.OCO frAs Pdrtogal ud £4.000
n«fM«limrsc^aftC«a«XkKlUM b«en dall •nd oMirr
•All««tktatbr »twM»a|4MUS4, ard ilUkremvk-
dM*fM4 ikk' - tb««adof llwjMrbMth«r« b«rD
mak m eo*<tn) >8 oi tte atrkH; amillj lh»n U Agood
lifcby f«r Utb to rMiit for JtqaMy wttltmtnu, »nd
pfllmiliilj * <l— D«< for right rttfrlinK »od cAbl«
I aorr Umm bilU v* iodioed to b«
TIm lalioMiOM polot to low rat<i next
•ad to gndoal teU towtrdr the mid ilo of Jan-
BAtortoc tooft biUr will bo otforod qaite
teolj. TiM poitod rotoi oa Moadtj won 4 84} for
ill% daf Md 4 Si f^ aifht. Tq" in»rk->t wu ttetdy
4» iMf oad taqr for ohort billi tod o«ble tr«aaf«r<
•■d r«toi for aetaU bwiiMtt verr anohtD<«d for
Iho fotMT ot 4 88M4 881. vhili the Utter w*ra
— ^— r<ir of • otnk iowor o)mp»red iHth
Uo«» ■! tW olooe oa Tttar»l«T of Uit week at 4 86} ^
4 87 f«r aicht oad 4 87^94 87i for o«bla tr«nifert.
4>a Tofodef o redoottoo of holf • cant for long and of
4M OMl for short hj Brova B^of. and of half « cent
farohort bj UeiddbioSi. lokelhaiaer & Go. and Ltzird
Frotoo aado tba r»9ffa far poated r^tea 4 84^4 84} for
4llf day Md 4 87#4 88 for aifrtat, and the markot was
■iitlitotorMogoadcible traoafen. Rttea for
in loaf stcrlinif wereoneKjaarter of a
; 4 81iS4 88}. while abort wh btif a cent
'•14 89|04 88} aod cabUa were off on« qauter
d4t7#4 87i. Oa Wedaoedaf there wm no cbanf^e
i> pootod ntoa mod the tone wh a abode atoadier for
Ih( otarliaf ot an adroooe of one-qaarter of a cent for
Mlul baaineaa to 4 88^94 83}, wbile abort aterlioK
aad oohlo tranafera eoatinned eoay at nncbanged
Yeatcrday then waa a farther ad ranee of a
'Of a ooat in tha ootoa) ratra for long aterling.
a** te «» _L
Tfca Mfkot oloaad atoadjon Tharadaj at 4 8494 8U
- aizty^j ud 4 8704 88 for sight. R it^-a for «:tual
aiaeaa vara 4 8S}#4 84 for long. 4 8CJ94 8«} for
b and 48704 87} lor oabto trMatora: prime com
1 biUa «rre 4 83 A4 83} aod dooamentarj 4 83i a
2W foUovwg nM«aa<u giraa ine veek'a otoTemenu
•iMMf toaad Iraai tha Utorior by the New York
'■*** «»i .eo»w>'». siT.ooo
TiooBB •oei.oeoloMa.M.ia.ooo
BaaaH irith Soh-lVaaaafy opormt
looa, et".
•■MTlMa
>o*ik.»4.iunno
>tMk 1.000 000
■«MaeMM>.ooo
The following table indie ites the amoa at of ballion
ta tha principal Baropsai btaka thia week and at the
ponding date laat year.
&Mk-Ba^r>
r"«c»w»».»*i
rwal.
Jan. *. 18M
0i<«.
' ' ' '
auvr.
loML
c
4IM1.0M
ta..'«M.*<s|i<;.4U,«»T
aMto.uo |i«.t7!t.«<m •i.tw.iNM tt.iot.ooo
lOJIA.-**
II.'WH
S.«8J 4«'
-"««(*-1 l»1.f0.5-.1
l«.Tr6.<XV
«.8«7.«>
M.WS.IV
«M>< (WO
«7.177 OKI
14,«&t000
lOISl.Ono
* Wi.OVO
(H4 .806,71*
W>.«'I7.1I«
r//* IMSIiORA TION BILL.
With comparatiTely alight attention from the public,
a mtaaDro of vtry conaiderable iraportance, iDdnatrial
and political, baa paased the II mse of K^preseotatiTea,
bat been de^attd, amended and voted by the Senate,
and ia now in the baoda of a conference committee.
The iromigrstinn b II, which ha) reached this stage,
introdacts a aoiDewhat novel therry into this conntry's
legislat'OD. Uuiil a very recent d<tte, enconragement
of immitrration was thf single policy parsned by Con-
gnu. The iiduatriHl boildiog-up of many districts
of the Wt^at and Sonth from wildernesses to populons
commanities has been the work almost entirely of
newly-arrived citizens. There are States made ap
almoat one-half of foreign- born population sach as
Minnesota, where nearly forty per cent of the citissns
came originally as immif^rants to this country, and as
North Dikota, where the foreign-bora psroentige is
forty-five. Increase in immigration under snch con-
ditions was assamed to ba aa essential factor in onr
national development.
We hive, it is true, at intervals passed laws to ex-
clude immigrants who were regarded as obviously un-
desirable. Paupers and criminals, for instance, are
properly barred out. The Chinese Exolasion Act,
whether right or wrong in principle, was bued oa a
similar theory of self-protection. Even the 0:>ntract
Labor Act made no dii<criminatioa against any clasj of
immigrants, but only against the manner of their om-
irg. Rat the bill now approaching its final vote in
Congnis is a much more radical measure. It applies
a really rigid test of immigrant illiteracy. As passed
originally in the House, the act provided that all mala
immigrants between the ages of sixteea and six^y, who
cancot both read aud w;ite the Eagliah Ungaage or
some other, shall be refused admiaaion. Too Senate,
after rejecting several other suggestions of amendment,
alt«>red the bill so as to p-ovide, first, that admission of
all immigrants, mile and female, shtU ba thus condi-
tioned, except in the instance of a wife, parent, grand-
parent, or minor child or grandchild of an admisiiblo
immigrant ; and, second, that the test shall be ability
of the immigrant to read and to write out five lines
taken at random from the Constitution of the United
States. Sime of the Ssnators aUo successfully insisted
on a complete exception in the case of inhabitants of
Oaba daring the continuanca of the insurrection.
It isobvions, at aglafics that thq parooae of thia
act ia reatricnon on general principles. It aims to re-
dnoe the preaent immigri-ioa movement. Ia the
OoDgrcssional ditcuaaion, the theory that the measnra
ia nec'ssary to protect oar iostituti ins was bar lly once
advanced. The illiterate is certainly not to b? barred
oat because ha is a aourco of danger to the community
nor because his ignorance dcatroya his usefulness. In the
Jancabt 2, 1897.]
THE CHRONKILE.
debate of both houses on the bill, the obrioas fact was
remarked upon that foreign-born citizens who have
proved in the pist mo3t dmgeroua to our society were
usually educated, and sometimes highly trained. Nor
will any one a833rli, after even a casual observation of
a gang of day-laborers, thit illiteracy is a bir to use-
ial industry. Whether the principle of the bill is
right or wrong, its purpjse is to check the present
movement. Tne msisare abandons definitely the old
idea, which has loig gniled Amsricin judgment oa
the question, that foreigners should b3 welcomed to
this country when they are able to earn their^ living
and should be welaomed for that cause alone.
The adoption of this new policy raises some serious
questions of expediency; perhaps additionally so in that
a coniiderabh elenent in Ojngreaa declares its purpose
of eventailly making restriction even more severe.
Doubt over the wisdim of the general policy of restric-
tion chiefly relites to oar mare distant indastrial and
csmmercial fatara. Tne enactment of the law will
very considerably decrease the annual additions to our
productive pjpalatioa. Sjms of tha senators describsd
the measnre as "a weak bill beciuse it does not go fa:
■enough." Bit the C)mmisgioaer of Immigration's
annual report for the fiscal year ending Jane 30 1896
«how8 that 2^*63 per cent of tha immigrants over the
age of fourteen yeirs conld neither real nor write.
Under the pending law, more than oie-fourth of the
year'stotalimmigration would thus have beenexcladad.
The 343,267 arrivals of the year would have baen re-
placed by something like 100,000.
On the other hand, there is force in the argument
advance! by Ssaator Nelson of Minnesota — himself a
type of the m'>st useful foreign-birn citizsn — that our
government, being "bised on the foundation of educa-
tion and intelligence," has the moral right "to siy to
immigrants, when we admit them to fellowship among
our own people, that they shall approximate the stan-
dard of the intelligence and culture of our own people."
It is trae. Senator Nelson's general argnment applies
more closely to restriction of the suffrage than to re-
striction of immigration; nevertheless, if any restrictive
policy is to be adopted, the provisions of the pend-
ing bill are aimed in the right direction. The
Bureau of Immigration's statement has some in-
teresting figures on this point. The percentage
of illiteracy in the immigrant arrivals of the last
fiscal year was distributed by nationalities as follows:
Sweden, 1'16 per cent; Germany, 2 -QS percent; Ireland,
7 per cent; Austria-Hangary, 38-92 per cent; Russia,
41 '14 per cent; Italy, 54"59 per cent, and Portugal,
77'69 per cent. This comparison pretty clearly shows
-at exactly what class of immigration the proposed
restriction law would strike. Oat of the year's total
arrivals, 151,823, or nearly 45 per cent, were paople of
the four nationalities last mentioned — the Aastrians,
Rasaians, Italians and Portuguese. Not only is the
percentage of illiteracy, as shown by the above com-
parisons, highest by far in these four nationalities, but
it is chiefly immigrants from these nations who have
failed to assimilate with our people. Obviously, there-
fore, if we are to begin the policy of exclusion on
general principles, the rale proposed by the pending
law would cut off those who socially and politically
add least to our community.
We are aware that the services of ths "foreign vote" to
thesound-money cause in th? late Presidential canvass
are urged in opposition to th's theory. Mr. Birtholdt,
of Missouri, made much of that point in the House de-
bate last week. We think it reasonably open to ques-
tion, however, whether the wholly illiterate foreign-born
citizens were of any definite service. In a "campiign
of education," the voter who cannot read is poor mi-
terial for intelligent appeal. The probability is that
he will either defer to local prejudice or follow the
noisiest demagogue. The foreiga-bara citizsas who
piled up the sound-money majorities in Illiaois, Wis
consin and Minnesota were not illiterates; th^y were
Germans and Swedes, who real and reflacied on their
reading.
Socially and politically, the nation will lose little by
reducing thus the annual foreign immigration. Whether
it will or will not suffer industrial injury is another
question. It will no doubt be urged that our cities are
already crowded with unemployed laborers; but so far
as that is an incident of trade stagnation, it will dis-
appear in time. Indeed, the annual movement of im-
migration adjusts itself mechanically to these ups and
downs of industry. In 1882, for instance, our immi-
gratioa record reached its maximum of 783,992.
It had declined by 1885, after the panic of 1834, to
395,346. In 1892 the annual arrivals had in-
creased again to 623,084. Bj the fiscal year
1895 they had sunk once mora to 258,536,
and only partially recovered in the twelve months
ending last July, as a result of revived
activity in trade. In short, the increase in our foreign
population varies automatically, according to this
country's demand for labor. Nor do even these figures
by any means represent the actual net increase in our
laboring pspalation. Foreign-born citizens are going
back to Europe every year, as well as coming ; the
Secretary of the Treasury, in hi< recent annual report
expresses d3ubt, based on the Immigration Bureau's
Inquiries, whether any material increase in the
country's foreign population has occurred since 1893.
DIVISrON OF MWSiaAN CENTRAL AND
CANADA SOUTHERN PROFITS.
The agreement made by these companies in De-
cember 1882, as altered by the apportionment in 1892,
provides that the first million of their total net profits,
after deducting all rentals and interest, shall be allotted
four-tenths to the Canada Southern and the remainder
to the Michigan Central. If the net profits exceed a
million dollars the excess shall be divided in the ratio
of one third and two-thirds respectively. It has been
pointed out that the division of last yeir is apparently
not in accordance with this agreement ; that while
the statement for the year, which we published last
week, shows a surplus of $1,067,000 over charges, the
Canada Sauthern's share was only $296,000, or less
even than three-tenths. As the discrepancy has pro-
voked some discussion and is not easily understood un-
less fully explained, we have obtained from the
company's reports the necessary da*<a and now present
them.
In the first place be it understood the "net profits '
divided each year in the ratio named are not the profits
oler the present fixed charges bat over the sum of the
maximum annual charges as now or heretofore since
1882 severally paid by the two compinies. That is to
say, when the division is made, each company is
credited with the total saving, if any, effected by it
since 1882 through a reduction of its charges. As a
mitter of fact the Michigan Central has in the interval
reduced its fixed charges largely, the Canada Southern
THE CHRONICLE
lyoL. Lnv.
hm nikmt t
Owtnl rM«l
tb«a. OooM-
fm sppuwiUy mora
oImt Mid to plM* Ite rMdcr ia
to wtk eat for himmUt th« uloaUtioa bj
ltoaiTWM«C»nt«to MMmpUih«d. m h»Te
rm4abr m> *uw **■•? r«o*ns.
■Mar !• IMI tor imm*
MiilM •Tmttm lla* ui
Ha4 «M MM*. •«TI.I»
, tlMJIa. ttml. ii.Tia.
I mix »» If*. >M» '» ^ ........
MmSwOHI *feM««<>MkM«BUIt«0(Mk
t«TI.IBO( tMt
• I.T1»,«S0
M.1M
«325,3«0
I of Um ftboT* d*l« w» an sble to •■?«rUun
rr ia vhieb tho net proSu ia 1896 irrre
id.
m. ArroctwwvMrT or aoaruM la IMC
tatta«kMa»MtMU IIM..^..^ «S.4a.ooo
X.SM,000
•I.MT.OOO
$i,i6t.0OO
, X,7n.0u0
f741.000
■am** aftw^ •••»•«•.....»..„„ tase.ooo
I cv»i>*r» (kM*. M •»•*•. , •44S,t.oo
• »mtnl II* lAnac la lu4
- Ill Ste.000- 771.000
.•l.0«7.000
Froa tb« diriaion of th« it«ia " net proQu," tbere-
r, ibe Ifichifko Oentnl raooifea $445,000, con
toaMioK with tlM •2»«,000 to the Oaiiada S^athern,
bat in •dditioB UMondit on Mcoant of redaction ia
1 ok*rxM tfford* tba Michigma Central |3..'C,000
iU total abara 1771,000, aa abore itatad.
Tba fall tar« andar tb« agreamant of 1882 ii tvent j
••• ymn tnm Jan. 1, 1883, diridad into four parioda,
llta flrat tbrta of whiob eoaitatad of flva yaara each and
tka laat of nx TMn; aiihar company two montbt
W o w tba aipiraiioB of aaob of the fint tbree period i
kaa lb* tight to call for a raadjaatnunt of tbe par
MBtoflM of aat profita for tbe aacoaeding period and
§mj dl^aU ragarding tba aamo to be aetiled by arbi-
lialiaa. Tba next apportionaMnt, if one ii desired,
will than fore be nude ia \orembar or Dacember 1897
to dato from Jan. 1 1898.
Tba ooDtraet witb tba Oaaada Sontbam baa atill
Mvaa jaara to ran, and wbatbar it will be extended,
aid if ao on wbat taraa, eanaot of conraa be foretold,
bat it la Bo( witboat Talna to know tbat witbin thai
f«tod a fartbar large redoction in fixed obargei will
kaaaearad hj tba Micbigaa Gantral. We aaanme thai
ttM awtoriog beada will be rafnndad at 4 per oent ic-
tonat er Iom. Tbe radaetion in ebargea will therefore
%aaafalkv«:
Alltr
i«o.eoo eo^
as.»ao i«>o
1«».700 •2.160
iiHt«.M,aaaMa H«r i. leoa
, >i K M^jSo Muiiieea
?^V * "iPtf^C •iLa*.«j»ao. 1 mTi a laoa
'**•'■•———"■'•• ~»~....,«. e7M,eto a»»»,i2<'
If tba rafandlsg ia oairied oat aa we bate aaaomed,
Iba ndactioo ia tbe ebargea of tba Micbigin Central
win agf r»|ato aearlj ISOO.OOO, making tbe total aar
ag abeat WSS.OOO from tba maximnm cbargta.
RETROSPECT OF lf<9(i.
We are aUting a fact whiob will not be diipated by
any one whan we aay that the year 1896 was not a
proaparona one. It waa a twelremonth of great anx-
iety and trial, marked by intanae and growing baiineaa
depraiaioo, and by disturbing inoidanta and oonditiona
which came in almoat endless snocession np to the
Tery close of the year. Abore all, it will be memor-
able in history for the great and momentoas straggle
which was carried on for the maintenance of cor
monetary [standard against those who would hare re-
daoed the country to a silver basis — resalting in the
triumph of the Ssund Money cause.
The frnita of this Tiotory— the lasting benefits which
it must confer — will appear hereafter. To 1896 belong
only the losses, the severe and protracted suffering in-
cident to such a struggle. It may be said that in other
n'speots, too, the foundations have been laid for a
better state of things. We have been rolling np a
trade balance in favor of the United Stitea of anex-
ampled dioenaions ; the Treasury gold balance haa
been fully reatored and is noir at a p)int far abore the
danger line ; an unusual proportion of the railroads of
the United States, in point of mileage and capital obli-
gitionr, has been foreclosed and reorganized, and
thereby put on a neir and more endaring basis of sol-
veacy; and in various other ways great improTdmeot
has been effected in the situation. Hence while it is
true on the one hand tbat during 1896 hardly any re-
lief from the great depression in trade was obtained
('he revival in business which came after the election
not having made safBcient headway to count for much
in the results for the year), on the other hand there
can be no doubt that at the close of the year the out-
look is more cheering than for a long while pist, prom-
ising a sustained revival in business if only Congress
by ita action or inaction shall not again throw affaire
imo chaos and confusion.
The year has been distinctive in that the troublee
from which the community has suffered hare been so
largely political in their nature. There was no great
financial panic such as distinguished 1893, though once
or twice tho situation was highly critical, and a panic
was averted only through the action of our financiers
and banking institutions. Nor was the year marked
by great strikes and labor troubles, and by floods and
storms and other visitations of Nature, which were
the characteristics of 1894, a year in which, as in 1896,
all our industries were deeply prostrated. The dis-
turbances in 189G were of a wholly different kind ; thej
were occasioned (taking them up in the order of their
sequence) by the attitude of the Government and still
more by the attitude of Congress in the matter of our
relations with certain foreign countries ; by the action
of Coogreu on financial questions, and by the course
of one of the great political parties In injecting as an
iuae in the campaign the question of the futnre mon-
etary policy of the country and in championing other
doctrines hardly less destructive In their tendency and
effects.
Consider first the disturbances in our foreign rela-
tions. The year opened with the Venezuelan war
cloud hanging over the country. It closed with a com-
mittee of the United States Senate suggesting action-
with regard to Cuba which if carried out must inevit-
ably lead to a rupture of our relations with Spain. It
is true that tbe Venezuela controversy did not long
remain a disturbing factor, British statesmen and the
Januabt 2, 181 T.]
THE CHRONICLE.
British public showing a conciliatory and very friendly
attitude towards this country, so that by the end of
January all talk of war had ceased. But in the meantime
the event had done an enormous amount of mischief
and injury — how much it will never ba possible to cal-
culate — and not till the latter part of the year was the
incident de finitely closed. The C uban matter, i t less vio-
lently harmful in its first effects, was yet extremely vex-
atious and disturbing through the whole twelve months.
The Senate on the 28th of February and the House on
the 3d of March passed resolutions recognizing Cuba as
a belligerent, and some of the speeches preceding and
following that action were anything but diplomatic and
pacific in their nature, and at one time in Mirch ap-
peals were addressed to Congress to cease iavit-
ing foreign complications. Not till the 6 th of
April was the question finally disposed of in Congress
by the acceptance by the House of the Sjnate
resolutions. Toe President did not see fit to act
in accordance with these resolutions. Bat even
under this cautions policy on the part of the Executive,
and while Congress was no longer in session, various
troublesome incidents connected with the Cuban insur-
rection kept constantly cropping up through the fitting
out of filibustering expeditions, the arrest of Cubans
claiming American citizenship, etc. There-assemb'ing
of Congress in December found our legislators (more
paiticularly in the Siuate) in a very bellicose mood,
some going so far as to introduce bills directing ttie
President to occupy Caoa by military force. It was
on the 18th that the Sdua^e Committee on Foreign
Ilelations reported favorably a resolution offered by
Senator Cameron recognizing the independence of the
"Republic of Cuba," thereby precipitating a sharp
break in the stock market and arousing the whole
country to the dangers connected with a step of that
nature. Fortunately the later developments made it
evident that the proposed measure would ba vigorously
opposed and had no chance of success.
Not less disturbing were the developments in and
out of Congress regarding the national finances. The
«arlier of these developments arose directly oat of the
complicatioos threatened in our foreign affairs, and
indeed when considering the part played by the finan-
cial troubles as an independent depressing ageocy and
as affected and intensified by the other disturbing in-
fluences of the year — such as the foreign complicationp,
the action and attitude of Congress, and the Presi-
dential campaign fought out on an issue touching so
vitally the material interests of the country — it 'is not
always possible to separate cause from effest. In J:in-
uary the Government was forced to invite subscrip-
tions to another Qovemment loan for 100 million dol-
lars to replenish the Treasury gold reserve, making
202 million dollars thus issued in the «pace of about
two years. The panicky conditions arising out of the
Venezuela troubles hastened, it tbey did not actually
create, the necessity for this last loan. As on previous
occasions. Congress did everything to thwart, and
nothing to assist, the Qovernment in its difficult task
•of maintaining gold payments. Not only did the
Senate declare its opposition to another syndicate con-
tract, but in place of the bill providing for a 3 per
cent coin bond which the House had passed the pre-
vious Djcnmber it substituted a free coinage bill.
This, fortunately, was rej acted by a very large major-
ity in the House of Rapresentatives, but the tariff bill
waa also treated to a free-silver amendment at the
hands of the Saiate Finance Committee. At the same
tima the Silver Senators announced their determina-
tion to prevent all tariff legislation unless provision waa
made for silver, with the consequence that the tariff
measure referred to has remained in the Senate to the
present day.
The bond sale proved very successful, and the Treas-
ury gold reserve from 44^ million dollars on February
10 was raised to over 123 million dollars bafore the
close of February, and in March advanced to over 138
million dollars. But in April gold exports ware again
resumed. In Jane the United States Senate passed
the Butler aati bond bill prohibiting further sales of
Governmant bonds— which however did not fiad the
necessary favor in the Houaa. la July came
the National Djmooratic Convention with its
declaration for free silver and other dangerous
doctrines. This created great alarm, aai further
increased the drain on the Treasury gold reserve,
the gold exports having meanwhile continued. As
a result the reserve a^ain fall to balo<v 90 million
dollars. At thii juncture very serious consequences
must undoubtedly have ensued had not the bmks and
financial institutions of this and other cities turned
over part of their gold to the Treasury, and had not
this baen followed by an agreement among the foreign
exchange houses to stop the outfiow of gold.
These last steps tended so far to restore onfiience
as to allow natural infiieacas to exert their normal
sway, and as our foreign trtie situation wis becoming
very favorable by reason of large mershandise exports
and small merchandise imports, the gold movement
was quickly reversed, and in .\ugust imports of the
metal bpgan and were continued for a long time,
reaching a large amount in t^e aggres^ate. From this
time on tha Treasury gold reserve was never again
in danger, and concern regarding it ceased. But
there were many other unsettling factors. Be-
cause of the fear produced by the action of the
Damocratic Cmvention, basiness became exceed-
iogly depressed ; money (both gold and currency)
was hoarded ; gold finally went to a premium again
(it had been at a premium early in tha year when there
was a special demand for the metal to pay for the new
Government loan); and merchants and other borrowers
round it very diffioult to obtain accomodations on any
terms. The situation became acute as the tima for the
election approached, and only the election itself
furnished relief. Daring the latter part of August
and the first half of September a commission of two
per cent (in addition to the regular interest rate) was
frequently paid on tima loans, while 9@10 percent was
offered for the very choicest grades of paper,
and it was practically impossible to effect sales even at
these figures. In some particulars the monetary situ-
ation improved a little daring October, owing to the
large gold imports, but normal conditions at no time
prevailed. In Earope the large takings of gold for
the United States led to a rapid rise in interest rate,
the Bank of England advancing its minimum three
times, first from 2 to 2^ per cent, then to 3 per cent
and finally to 4 per cent.
Thus the effects were continuous and cumulative.
And the same may be said of the silver agitation as a
political factor. It was evident very early in the year
that the silver movement was looming up as a powerful
issue in party affairs. The attitude of the Ohio
Republican Convention in March on the silver question
was not at all regarded with satisfaction, and as a con-
sequence some anxiety was felt as to whether even the
8
THE CHRONICLE.
(Vou LXiV.
MM CM(ar*d • gnM auy of tb* SteU Damocntio
—muliiil ia tk« SMlh aad W«l, Md in June they
tkair ftetory oeapiaU in dominAiing th« Demo-
itioaa la U« iaporuot Sute« of Otiio,
Tb« istMsity of Um doprMiion in bniioei* which
TCMlUd fraa U«M Twiou omms aay b« jadged from
tb« Monlbly rtoord of iroa praduotion. The oatpat
kwl dMHMd afM btlor* the National Damocrttio
OMVMlkw. tb« VMkly prodMl Jaly 1 b«ing nporied
«alj 18D.&M toe* ogMMt S17.306 Norombor 1 1895 ;
Wt by Ootobtr 1 Um oaoaat hwll b«on ndaoed to
«ly lU,Td loBi pw wMk, boioff • dMroMO m
ipoitd vitb 18M 1 the r»t« of orer fire
• ymr. Tae Urge loaaei in eern-
ten ebova by tbe PeaaeylrMtio lUilroed afford
(^eelly •ttikiog teetiaony to the nme effect. That
tpony OB ita tjitem entire reported 11,717,400 de-
in groea in Aagutt, •1,436,600 in September,
11,649.800 in October and 11,934,900 in NoTomber.
AaoBg the faroriog erente of tbe year wae tbe re-
MOTal of a great many enbarraitmenta In tbe railroad
world. We bate not the ipaoe to enumerate all tbe
diffcreal rmilroada which ban been restored to lolTency
Ibrongh reorgaaiiUioo, bat mention of the namea o(
Um brgrr oespoiiiea will mffioe to give an idea of the
■•faitado asd inportanoe of what has been accom-
pUabed in tbie direction. The lift ineladea the
AlcUiOB, which came into poaaeadon of ita prop*
«ty Jaaaary 1 ; the Erie, and Central of Georgia,
whoa* raorgaoixationa date back into 18U5 ;
tto Baadiac tbo Northern Pacific, the Norfolk &
Waatara, the Oregon Railway h Nayigation, the Ore
(M Short Liaa^ aad tbe St. Lsuii & San Franciico,
baiidea a largo aambor of amaller companiea.
Tbe agricultaral aitnation alao ia aiauring. The
.oropiaaot large, but the price ia good, caah
.Bailing hero at about a dollar a bnahel. Gdoer
ally apoakiog we hare abundance, while the world at
larfa (by leaaon of the famine in India and the abort-
ago ia Aoatralia and other countriea) ia in need of all
ve can apare. In tha caae of oorn the reaalt ia par-
tiealariygratifjing, aa the yield for 1896 ia eatimated
at S,tOO million buahela and for 1895 waa eatimated
at t,100 million bnahcla. The cotton crop ia much
larfv than tbe poor crop of 1895, though we make
aoatttapt to indicate the preoiae extent of the yield.
Tbo fortKoiag ia intended to fumiah only a very
briaf oatUaa of tbo inflaeooaa and erenta of the year.
V«*J fall aarraiiTOi for all the rariona financial mar-
kHa— tht wtauty market, the foreign exchange mar-
kat( aad th* atook market — will be found in our
ratiawa oa anbaaqnent pagea. Aa to the
rket, wo intend, within ancoeeding weeka,
to aap ph ma n t the proeent review by a rery compre-
hanaiTo tabelar atatooMnt, giving the record of quota
tiooa foraaob vaok of the year, in the form in^which
we poblubod tbo flforaa for previoua yeara in our iaaue
•r Jaaaary U, ISM.
Bob* wo briag together aom* general atatiatioi for
UM aad 18M, affording an ioUraating oontraat bo-
tvMB tbo two yeara. Thia Uble ia aiwaya more or leaa
to aempiati, daoe many of the tgnrai can not bo ob-
latood aattl a long while after the oloee of the year.
Tko pteaont time, bowavar, tbe remark appliea with
fofoi alBoa Ibotabia ia iaaned eeveral daya earlier
il, baTing boon compiled on the doaing day
of the year. But for the information of our readers
we may aay that the same table la incorporated
in our "Financial Ileview," an annual iaaued about
the middle of February, and in that publication the
table will appear in ita complete form fully revised.
uaaaau. aoiuiAJir ro> two tiau.
Coin Mul eurreoojr Id C 8. Deo. 31.
BMk elMrtnc* In United StatM
BiulnM* MlorM •
Bala* nt N. T. Slook Eiob*ng«.*t>nrw.
Oratn and flour at Prod. Eteb'e.buaii.
Cotton at Cotton Kxchangp bale^
Import* of oieroliamllM (11 mo«.)..a
Kiporuot merahandlM (11 mos.)..a
VaTlmpoiwar cold (11 mot.) {
Oroat aaralnxa 131 road* ill mo«.).$
BaUroad oonatnietad jnUea.
Wheat raUed buahela.
Com ralMd boahtfa.
OataraUed bunhela.
Cotton raised balea.
PU Iroa prodaoed.ltODH or 2,240 Ibi.)
BiMi rmlla, Baaaemer. (tona 2,210 Iba.)
Antluraotte ooal...(tou>or 2,240 lbs.)
Petjvleam (mna) produollon bbla.
bmnliratlon Into U. B
Pnb.landi>alc« (,vr.eDil'KJm'<'30l»crei>
..a 11.897,7
..a 51.183,0
..f 224,7
isee.
1805.
44,541
0()4,»50{
00,000
54,«54.096
1,284,U7 1,000
46,727,800
632,.'»9».et>0
888,080,369
43,8«0,4e8
430,900.490
1,800
■412,000,000
2,211.000,000
•670,000.0001
(»)
(H
(»)
(i»
33,230,4iel
(II
.'1,297.031 1
1, ■83,400,410
53,2H2,278,827
173,190,000
fle,ftN3,2.')2
l,89ll,SB3,400-
51,489,700
739,408,300
732.331,019
&.'>7,S9Mi88
422.013,362
i.eaa
467,000,000
2,lM,OO0.OOU
824.443,^00
7,102,473
9.44(S.308
1.299.028
40.."il.5.761
:80,400.3fl8
:i24..%42
5,429.ai7
'Approxtmatluai; A«rtauUural Bureau tigaTM uot yet ianued,
eambrr I. iThoteareUieold Pipe Um
21,909,464 bbla. In 1890 and 18,420,41
I De-
old Pipe Line ruuH. The Buckeye runa were
• -- •■- bbl«. In 1895. fNetexporU.
With reference to tbe atock market, the ilactaationa
from month to month have been more tbua ordioariiy
wide under tbe variona diatarbing iofla«ncea whioii
have marked the year. Aa a rule the loweat prices
were made in August, before the Bryan meeting at the
Madiaon Sqnare Garden changed tbe whole aapecc of
things, while the highest figurea wbt'- reached either
early in the year or in November on the news of Mr..
McKinlej'a election. In the break in August aomo
very low figurea were touched, the price for New York.
Central at 88 being the smallest ainoe 1885, and that
for Burlington & Quincy at 53 being the loweat since
1861. On the other hand, Lake Shore i a Dac-mber
advanced to 156, which ia a height never previously
attained by the atock of the conaolidated company.
maxoB or lkadik« srocKa » 189S.
X"
Lotoeit,
Trunk Linea—
Baltimore * Ohio. . . .
Boaton & Albany —
Canada Boutbem —
Krlel
Lake Shore
MlehlKan Central....
M. Y. Cent. A Hudion
rennaylranla. f
Coal Road*—
Del. Laok. A Weatem
Delaware A Hudson
Lehlxh Valler t
Central New Jersey..
N. Y. Busq. A Weston.
Pblla. it Reading. ...
Wrat'n and Southw'n—
Atob. Top. & Ban K«*
Chlo. Burl. A (iulnoy i
Chic. Mil. A. 81. Paul
Culo. * North West'n
Chlo. R. I. A Paolllo.
Qreat Ni'rtliem pref..
Illluols Central
lUsaourl PhoiOo
Wabaah pref
PaeMo R^iads-
Canadlan Paolflo ....
Central PaolBo
Korthem Paolflo
Do do pret.
Southern Pao. Comp'y
Uuleii Pitclllo <
Boh them Koada—
Cbnaapeake A Ohio . j
L«nUrllle A Nashr..!
Norfolk A WatU pref
Southern Ky
I>o praf...
Texiui A Paolflo ,
UliiofUiinvoui, —
Amrr. Coltou OU...
Auior. Hutar ,
Amor. Tiibaooo
Cbioag" Mas
Uanetal Kleotrle.....
NaUonal I^ead
Paelflc MaUBS. ,
U. a. Leather, praf..
n.B.Bnbber
Waaun Union Tel.
39
206
49
W»\
141
05^8
06
51%
160
125
37
100 If
9
4'8
68%
100
67>a
110
92
25 >a
16%
55
14%
3%
llTg
30%
4
15%
45%
8>4
27%
8%
IB
103
T7%
05%
36%
35%
63%
27
85%l
10% Sept.
200 Aug.
40% Aug.
10>4 Aug.
134% Jan.
89 Aug.
88 Aug.
49%Aac.
138 Aug.
114% Aug.
27'8 Aug.
87% Aug.
Aug.
2% Jan.
8% Aug.
53 Aug.
59^8 Aug.
85 >e Aug.
49% Aug.
108% Mar.
84% Aug.
15 Aug.
11 Aug.
53 Jan.
13% Aug.
%Hay
10 Apr.
14 Nov.
3% Jan.
11 Aug.
37% Aug.
4% May
e%Aug.
15% Aug.
5 Aug.
8 July
05 Aug.
51 Aug.
U% Aug.
30 July
16 Aug.
15% Aug.
41% Aug.
14% Aug.
72% Aug.
Oisr
Highett
<n«.
44 Jan.
27
16%
217 Jan.
28
209
51% Feb.
10
4B
17% Nov.
9
14%
156 Dec.
8
154
07^8 Fab.
11
90%
99 h) Feb.
10
94
54% Apr.
23
51%
160 June
129% Feb.
88% Jan.
110 Nov.
ll'sJan.
;31% Nov.
18 Nov.
83% Nov.
80 Nov.
100% Apr.
74'8 Feb.
122 Nov.
98 Jan.
29% Apr.
19% Feb.
62% May
16% Nov.
ilO^B Nov.
028% Nov.
22% Jon.
12% Nov.
18% Nov.
55% Feb.
1119% Nov.
H\Nov.
33% Fob.
12 Nov.
19 Jan.
120% Apr.
9.^ Apr.
78% :fov.
39% Mar.
28% Apr.
31 Feb.
09% Feb,
29 Jan.
90% Nov.
158
110
30%
100
9%
!36'e
14
69%
73%
23l 108
24 65%
24 132
31 03%
20, 20
24 15%
271 54
271 15
9| 513%
11 a23%
14^ 14%
4^
16%
18
|15%
0%
26
9
IX '
110%
78%
73%
32%
23
24%
00%
24%
83%
* After parmantofasseaiment of 10(ieroent. tTbose tUurea cover
the period auioe new stock was iMued on March 11. : After payment
of uisissiuent of 30 per oent. ^ After payment nfa«i>f>"M<"M' of 1.5 per
eant. a After payment of awrosment ' : .ifter pay
■•at o( aaaaaamant o( $12-50 per aliare.
Jancabt 3 1897.]
THE CHRONICLE.
9
common advanced from WJ'I to 72>^, Burlington & Quincy
from 71X to 785^, Central of New Jersey from U% to 108!^,
Lake Shore from 134?^ to 146 14, etc. An effort was macle
to settle the conflict of juri.sdiction between the several
circuit courts regarding the Northern Parific receivership
—•ee Chrootcle of Feb. 1, page 208. The Omaha & St.
Ixmis was sold at foreclosure ; also the St. Johns & Lake
JANUARY. — Current Events.— The year opened under
conditions the reverse of promising. President Cleveland s
Venezuelan message the previous month had deeply dis-
turbed all interests and threatened our peaceful relations
with Great Britain. The Treasury gold reserve, too, again
needed replenishing, standing January 1 at only $63,263,269,
and a new bond issue had already been determined on when
the month opened. To add to the uneasiness, it appeared
that the issue was to be by public subscription instead of by
syndicate arrangement, as supposed. Mr. J. P. Morgan had
organized a new syndicate towards the close of December to
furnish 11,500,000 ounces of gold to the Treasury and to
take 5200,000,000 of bonds. But great opposition was being
manifested to another syndicate contract ; this appeared
particularly in the action of the United States Senate on
Friday, January 3, on a pending resolution offered by Mr.
Elkins, of West Virginia, declaring it to be the sense of the
Senate that bonds should not be sold under private contract
and without advertisement ; both the President and the
syndicate were denounced in unmeasured terms, and a
proposition to refer the resolution to the Finance Committee
was lost by a vote of 48 to 6. Very early in the morning
of January 6 Secretary Carlisle issued a notice inviting pro-
posals for the purchase of 100 million dollars 4 per cent
bonds, bids to be received until February 5 - see Chronicle
of January 11, page 68. This change of method was re-
garded with grave apprehension in financial circles. The
announcement, too, operated at first to accelerate the export
of gold, some gold previously withheld going out when the
bond proposal appeared. Subsequent developments, how-
ever, were all favorable, and served to bring about a great
change in tone and sentiment. On January 14 Mr. Morgan
sent out a letter (made public on the 15th and published in
the Chronicle of January 18, page-117,) to the syndicate
subscribers announcing its dissolution and reiterating the
determination expressed by him in a letter to President
Cleveland on January 4 to co-operate in making a popular
loan successful ; on the 15th, also, Secretary Canisle issued
a notice extending the time of payment for the bonds
(Chronicle of January 18, page 118,) over a much longer
period — until June - thus reheving apprehensions of strm-
g^ncy in the money market. On February 1 the gold bal-
ance was $49,84.'), .507. During the month, too. the situation
arising out of the Venezuelan difficulty changed surprisingly
for the better. The President appointed the Boundary
Commissioners on the 1st. and their action in requesting the
Secretary of State to ask the Venezuelan and British gov-
ernments to co-operate with them in their work produced a
good impression. Besides this, during the Transvaal diflfi-
cultifs resulting from the filibustering expedition of Dr.
Jame.son. our Government asked the British Government to
use its good offices in protection of United States citizens,
and the reauest was granted. Various other circumstances
(particularly very friendly speeches by several of the British
Ministers) likewise operated to open the way for the settle-
ment of the difficulties between tne two countries, so tliat at
the end of the month all talk of war had disappeared. Thus
the outlook, both politicallv and financially, underwent
a great change, and the beneficial effect was felt in
all the markets. Among the other favorable incidents was
a rise in the price of wheat, the May option advancing from
aea January 2 to 71;^ January 31. The anthracite coal
companies reached an agreement on January 30, the Read-
ing accepting 20^ per cent of the output instead of the 21
per cent claimed ; and selling prices or coal January 81 were
advanced about 35 cents a ton. The bill providing for a 3
per cent ''coin" bond, which the House of Representatives
had passed in such great haste in December was amended
in the Senate by substituting for it a free-coinage bill, and
this passed by a vote of 43 to 35 on the 1st of February.
There was a premium on gold during the month— see our
review of the foreign excliange market below. None of the
New York banks availed of the privilege to issue Clearing
House certificates authorized the previous month.
—Rnilroal Kvents and Stock Exchange Warter*.— The stock
market in January reflected the improvement in the situa-
tion bv a large and general advance in pric&s. There had
been during December a smart recovery after the panic
cau.sed by President Cleveland's Venezuelan mes.sage. The
announcement that the new Government loan was to be
offered at public subscription came on January 6, and the
first effect was to weaken the market. Prices were also
depressed once or twice during the month by unfavorable
rumors regarding the Venezuelan controversy with Great
Britain — notably on the 18th, when there were reports that
the " flying squadron,"' which liad been suddenly mobilized,
would be sent to American waters. Generally speaking,
however, prices steadily improved after the 7th or 8th, and
closed on the 8l8t at or near the best figures of the month.
Sales on European account gradually diminished and finally
cea.sed to be an important factor. The latter part of the
month the agreement among the anthracite coal com|)anies
for a division of tonnage was a favoring influence. St. Paul
Eustis to the Florida Southern; also at foreclosure, securities
of the Hutchinson & Southern, giving control. Mr. John K.
Cowen, formerly counsel of the company, was elected Presi-
dent of the Baltimore & Ohio to succeed Mr. Mayer. The
Chester & Lenoir was placed in the hands of a receiver ;
also the East Shore Terminal of Charleston, the Cumberland
& Ohio Northern Division and the Galveston La Porte &
Houston. The Summit Branch RR. defaulted on its general
mortgage interest due Jan, 1. The Pittsburg Cincinnati
Chicago & St. Louis resumed dividends on its preferred
stock. The Union Pacific Reorganization Committee, Gen.
Louis Fitzgerald, Chairman, announced that it had received
a majority of all Union Division main line and Kansas
Division 1st mortgage bonds and nearly one-half the stock.
— Ihe Money Market. — After the high rates reached in
December, 1895, during the Venezuelan incident — call
money at the Stock Exchange at that time having advanced
to 100 per cent — the money market in January gradually
returned to normal conditions. On December 31, 1895, 35
per cent had been paid for some loans at the Exchange ; on
January 3 the range for call loans was 5 to 10 per cent, and
on January 3, 3 to 7 per cent. The early part of the next
week the rate at one time was 8 per cent, but the rest of
the month the fluctuations were within much narrower
limits, and the figure did not again get above 6 per cent.
At banks and trust companies the rate on call was firmly
held at 6 per cent all through the month, loans by these
institutions usually standing undisturbed for a long time.
There were large shipments of currency from the interior to
this centre, the ordinary return flow being augmented by
remittances from those who wished to subscribe for the
new bonds. Still there was little disposition to lend on
time, in view of the prospective demand for money for the
new bond issue. The ruling quotation was nominally 6
per cent for all periods, with some special transactions
towards the end of January at 5^^@6 per cent for three to
four months. A few of the foreign bankers were willing to
make engagements the latter part of the month for ninety
days to four months at 5 per cent on a gold note. Commer-
cial paper was bought more freely towards the close of the
month. Choice double-named paper was quoted a^ 6 per
cent the whole month and prime single names 6@7 per cent,
while what is classed as good single-named paper ruled at
7(99 per cent and part of the time at 7@1 2 percent. The
Clearing House banks reported $141,212,000 of specie and
legal tenders and $15,939,675 surplus reserve December 28,
1895, and $162,235,200 specie and currency and $39,623,400
surplus reserve February 1, 1896. No Clearing House cer-
tificates were applied for or issued during the month by the
New York banks.
— Foreifin Exchange. Silver, Etc. — The foreign exchange
market was unsettled during January, and we had the
anomaly of simultaneous gold imports and gold exports.
The imports were due to the demand for gold for sub-
scriptions to the new bonds (gold commanding a pre-
mium in the market), while the exports were caused
by the high exchange rates ruling, which made ship-
ments profitable on gold taken from the Treasury.
Those who imported gold in this way had to buy bills of
exchange to pay for it, and these purchases in turn tended
to increa.se the exports of gold. Towards the end of the
month the exchange market became more settled and rates
declined, and then exports practically ceased. During the
last few days of December tne market had shown a weaken-
ing tendency under the influence of the high money rates
here and the belief in an early bond issue, and rates for
actual business December 31 were 4 87^@4 87?^ for sixty-
day bills. 4 88?^(a4 89 for sight sterling and 4 &9J^@4 89?^
for cable transfers. On January 2 the rates were }4<S%
cent higher, so that the vear opened with actual business at
4 87M@4 88 for sixty-day sterling, 4 89^i@4 89>^ for sight
and 4 90(34 90^^ for cable transfers. The premium on gold
then was 1@1'^ per cent, and gold was being shipped both
to and from Europe. On the announcement on Monday-
January 6. of a call for public subscriptions for the bonds,
the premium on gold for the time being almost entirely dis-
appeared, and where possible engagements for the importa-
tion of the metal were canceled. It was soon seen, how,
ever, that the demand continued, and thereafter the pre-
mium ruled at ]^<^% of 1 per cent until the last week,
when the rate was %(Si % of 1 per cent. A premium was
also paid for legal tenders (over silver certificates) in some
cases. After the issue of the bond proposal the exchange
market became somewhat deranged, with the general ten-
dency the rest of the month downwards ; the lowest figures
were reached on the 2yth, when rates on actual business
were 4 87}^(a4 87K for sixty-day bills, 4 88i^@4 883^ for
sight and 4 88J^(a4 88^ for cable transfers. On the 31st
rates were one-quarter of a cent higher, at 4 87i^'(t4 87J^ for
long. 4 88i^@4 HB% for short and 4 88?4'(a4 89 for cable
transfers. Tlie gold exports during the month from the
United States were $10,566,526, while the imiwrts were
$10,367,940. In Europe the Transvaal affair proved a very
disturbing incident, but when it was seen that there would
be no rupture of relations between Great Britain and Ger-
many, English consols advanced sharply, and they closed at
107 15-16 on the 31st, against \m% on the 2d. The fluctua-
tions in the price of silvtr were unimportant.
FEBRUARY. — Current Events.— The improvement in the
general situation noted in January made^tuither and very
10
TAB CHRONICLE.
[Vot. LXIV.
^ *riT with Ore*. I
V llae Mmn»' >
it«U«t momiix
t h of tl># »' '
Hniontd U'i'rtk
Mm
.), \\
tnkon H» low as^V P<'i' cent; time
rthirty to sixty ilays, 4?^ per
i tier o«nt for longer periMS.
iMinks rei^»rt«-.i $162,285,200
Ixinc miecic and $t<5.389.300
!■ ' I iiv 2»tli, $60,804,000
■ «• diar lot
} t w ««it « of Uw
tU «
a Uttl*
of avTenil bulili-n at lii>(lirr
to the KuliMYii^ton wiil lx>
Krhnury la, !»«• *». Tin-
r,l08,2»«», nwkins tlu-
11117. PayiwnU be-
rMd«7 Bisht. tb« 14th, the
, .«,k a^Viw-nr «>^ wlc^«a i«.«8.»i to on
M«l «< Ikt al*. Br Um Md «( tb« moaib it wm esti-
Im4 bMA paid in. moat oT the nibM-nbcn
haviH^M ta t*U laalTiil ofrxteoilinc payment over the
faJSTGi i» Um Twaaury circular, to* o|ieration UiJ not
at an 4M«ihfaic to tha money market, ae noted be-
AeeordiaiclolSi '*»Uy.»»|wrt fiwB^WaaiaB|ton '
HMtat Mvoas in February, and durii
than waa a further decided and pr
MK fca tha toofth weak a reaction
CaT* AMoidiaM lolSa daily renort'froni WaahtBftoD the
-«-»«^ -akn&at^ the 10th.Tt|a,868.498.
.. abofaoM hudred mlUioa doUanon the iUt.
Isad at •ItMM.Vn on Maroh t. The affair proTed
hetaful la fvTiTlac ocnfldeaoa. Government 4
aa* «MMi «( IMS ibriactha auna Uaaa aa that offered for
mMmU up fn» us before the m1« to 118 after thr sale.
A ««ty toeorahle erent «aa tha reieotion on the Nth by the
" t«« BnraaBtatlTM by a Toie of tie to SO of the frei*
wiMi the Unllad Stataa Senate <ae noted in the
Jfeaaary) had on February I aubatituted for the
will by the Bouw thopiaTiona December. The
' larUr Uli. which the Houae had alao aent over to
la Droember, wa« likewiae treated tu a free
iOvat ■Mii-tnr— 1 by the Senate Finance Committee: and
«B Iha Mlh the fraa aQvar maa ware aaooeaaful in defeatiDR
•■MliHaliaaor tha awandad bill tu tha Senate, they bav-
kwMaaaMad tkatr da t aw aiaat fam aot to allow any new
linl la|MrtiM aalMi |ii P» h d MM waa made at the aame
ttea tena rilvar. Thapaioeof silver advanced sharply,
aa atatad below ia our foreiga exohaage market. Oold con-
tlaued to eacaawBd a alicht premium, aa likewiae *ut«d in
IWI aiiiwajti wiiikiil Aa untavorable davelopment towards
lka«laaa«r the month waa the placing of the Baltimore &
OMalR. la the haada of receiTera. 1he paasaKe by the
l«B thaMlh of a reaolution favorins the granting of
I to Cuba oauaed a break in the stock mar-
•what unnettling in business circles.
load Stock S^hanot Matter*,— The im-
' locaigB relations and the great success of
bad the effect of keeping the
during the flr^t three
pretty general rise
Ib yatoiK te tha toutth weak a reaction occurred, helped
by tht waalBywiata eoaaaetad with the Baltimore & Ohio
Md tha aetfoa oT tha UaHad SUtea Senate in voting to
g»at beltiffMuat rtchta to Cuba. Louisville & Nashville
aeld at 4»U on tha U aad at MH on the 24th, St. Paul com-
■t Tl4| aad at 7»9(, Rock Island at 08 and at 74^.
>thaMih thar* waa two or three points reaction tn
la tha bnak on the 2^h, oauaed by knowledge
lOf IhaSiaate withreMNaot to the Cuban
I touched the lowaat points of the
I ft Ohio itold at 41 on the Mb and at 21 fj
oa tha Mh, oa which latter dale it waa placed in the bands
«l laoeivafB. Ttm Chnadtan PaeiAc aanoonoed the resump-
of dl e l did paymanta. Tha Orami Railway ft Navi-
B waa declarM operative, and the
r tha ooUateral trust bonds of 1689 were sold
; hf tha Raornaiatton Committee. A plan for
of the Detroit Uuiaingft Northern was
^ ^ anon atock. The Lehigh Valley
baa^il tta flbalra Cortiandt ft Northern. The Little Kock
BatWrtMi ft Taaas was placed in the hands of a receiver.
Ika Mw Tofk Ptaanlvaaia ft Ohio and the Georgia Mid-
tmi ft 0«tf «w« aold at fbndoaure.as alao the Montgomery
^ Ml ' M * M w ap lili aad tha Port Edwaida CentralU ft
— rhe Momtf JCarM.— Tha Ooveraraant bond sale pro-
I ia tha money market. The Secretary
for the liondn to be paid into
i for that purpose, and the
tha month appears to have
t m to M BlBiaa doUan. Tha aiarfcat devek>|>ed
> wuaka tha rate for call
IMoeh Kaohaaga twoorthie* (!•»•«• t/tnobed 7
or * per (w«t. Hut Iho last two waaka the ' .rure was
tpar riMSt. wttJi many luaoa at Sparoein was at
iM Uttla dt^poaitloa to make time loans ur lu buy oommer-
. leaden wuHhig to aae what the effect of the
* 1 hat hat gradoaUy the feeling changed an<l
At Ifca baclnning of the monUi tha ^oice»t
<vMiinuiAiM| a per cent, aad that was also
ro ue loans f<ir all perioda. At the
»n- ' ninety days doubla-nanad paper
tflraalyaia«ft^paroaat and four montha oom-
M aoU at m^ par oent: some extra
... ; .. ii.i' foreign exchange
1 tendency in February. On Mon-
.showed decided weaknesM, being
luling bond subscription.^, and rates on
1 ' day Bterling and for commercial bills
tbuth piiiiiu aud diM-viuientary) declined a full cent per
l>ound, while sight bills and cable transfers declined three-
quartara of a cent. The figures then were 4 86J^@4 86?i for
W-daya, 4 87i!«ft 4 t« for sight and 4 88(3 4 88^.^ for cables. Con-
traiy to expectations, there was no important upward re-
aotiOB after the bids for the loan were opened, and the
flnotoations the rest of the mouth in the rates for actual
Imriiwi were confined within comparatively narrow limits—
uaoaliy a qtuuter of a cent up or down. The success of tha
bond aale led to some buying of our securities for Euru|jean
aoooont. It is not believed that any considerable amount
of the new Government bonds went abroad, though the
I>eutsche Bank of Berlin had a qimrter interest in the bonds
awarded to J. P. >l()rgan & Co. The fact that money ruled
much higher here than abroad had a tendency to weaken
exchange. Rates on actual business for sight bills and cable
transfers cloeed at the same flgures as those for the 8d of
the month noted above; for OO-day bills the rate was one-
quarter cent higher at 4 86-V(34 87. Gold exports to Europe
were not jiossible at the ruling price for exchange. Tlie de-
mand for gold again le<l to considerable im{K>rts — $0,375,389
net. The premium the end of the month was 7-tO of one
per oent for gold guaranteed not to have been taken from
the Treasury and '4(0 5-16 of one per cent for other gold.
The premium on greenbacks was nominally l-16@i^ofone
Ser c«nt. The silver market was very strong on an active
emand for the metal for India; and the price in London
advance*! from !!0^4' i)ence per ounce on the Ist to 31 9-16^
i)ence on the 24tli, closing on February 29th at 31 3-16 pence.)
in London English consols advanced to 110. Money rates
tended downward at the European monetary centers and
the Imfierial Bank of Germany reduced its discount rate
from 4 per cent to 3 per cent.
■ fc aii l a patt «( tha Bwaaa d a f «
1>t i l l flla rr liaaka l aa ign a ti rt
— iia t aoh^ld nttfMolaaaof t
MARCH.— Currenf i?ven<<.— Affairs took a turn for the
worse again in March. Bad weather affected trade very
unfavorably. Quite a good many failures of prominent
mercantile bouses were alao a feature of the month. At
the same time the discussions in Congress regarding the
question of recognising the Cuban insurgents as belligerents
proved very disturbing to business; so much so that appeals
were addressed to Congress to cease inviting foreign com-
plications. As stated above, the Senate passed its resolu-
tion in favor of granting belligerent rights on the 38th of
February, and on the 2d of March the House also passed
similar but independent resolutions. The conference com-
mittees appointed by the two houses at first agreed to
accept the Hou.se resolutions, and the Senate conferrees so
reported to the Senate. In the debate which followed Sen-
ators Hale of Maine and Hoar of Massachusetts took
strong grounds against the attitude of Congress. Subse-
quently the House resolutions were withdrawn from the
Senate, and on the Cth of April the House accepted the
Senate resolutions. In the interval riotous demonstrations
against the United States had occurred in Spain. In financial
circles the Baltimore & Ohio receivership, which occurred
at the close of February, also operated as a depressing influ-
ence. The uncertain attitude on the silver question of tho
Ohio Republican Convention for the election of delegates tO'
the National Presidential Convention likewise caused some
uneasiness; but the subsequent declarations of the Repub-
lican conventions in New York, Massachusetts and Minne-
sota proved in every way satisfactory. Favorable develop-
ments were the increase in the semi-annual dividend of tn6'
Chicago Milwaukee & St. Paul RR. from 1 per cent to 2 per cent,
the agreement between the General Electric Comimny and
the Westinghouse Electric & Manufacturing Comi>any, the
restoration by the L<>liigh Valley of the 10 per cent reduc-
tion in wage.s made in 1893, and ihe submission of a reor-
ganization plan for the Northern Pacific with a guaranty
syndicate for 815,000,000. It trans|)ired that the anthracite
coal roads had determined not to have the agreement en-
tered into in January formally signed and executed
presumably because of legislative hostility. Further
payments were made on account of the subscriptions.
to the (ioverninent loan, and at the close of the month only
about five million dollars remained to be paid for both prin-
cipal and premiums. The Secretary of tne Treasury called
on the deixisitarv banks for a fiart of the moneys held on
bond account, and $.'),8!K).()0(J was transferred to the Treas-
ury during the month. The Treasury reserve waa reported
at |123,«02,079 on March 2 and at $128,646,461 on April 1.
The premium on gold rulinfi; in the market practically dis-
apfieared. Abroa<l the Italians suffered a great reverse in
Abyminia in a battle on March 1 at Adowa, this leading to
a change of ministry in Italy, and the British (}overnment
determined to send an expedition up the Nile against the
Mahdiata, who threatened to advance into Egypt from the
Soudan.
Januabt a, 1897.]
THE CHRONICLE.
11
— Railroad Even's and Stock Bxchange Matters. — The stock
market was dull and irregular but with a weak tone, until
towards the close of the month. Chicago Milwaukee & St.
Paul common sold at 78% on the 4th and at 73?^ on the
24th, and Louisville & Nashville at 54 'i and 48 J^ respectively
on the same dates ; these two stocks indicate the course of
Talues for many other stocks. Towards the close the pub-
lication of the February statement of earnings of the Bur-
lington & Quincy served as a stimiilus to the whole market
and part of the early decline was recovered. General Eleo-
tric advanced sharply on the agreement with the Westing-
house Electric Company. The appearance of the reorgani-
zation plan of the Northern Pacific had the effect of
advancing several of the bond issues of the road, while the
stocks declined. Baltimore & Ohio stock sold down to 13
on the 6th. In the Northern Pacific receivership cases
Judges Gilbert and Hanford, in the United States Circuit
Court, at Seattle, refased to carry out the instructions of
the Supreme Court Justices intended to settle the conflict
of jurisdiction between the different circuit courts, and
continued the separate receivers for the Western part of the
system. The United States Supreme Court rendered a
decision in favor of the estate of Leland Stanford in the
attempt to make the estate as a stockholder of the Central
Pacific responsible for the debt owing by the road to the
United States Government. In- the Houston & Texas Cen-
tral foreclosure suit, the U. S. Supreme Court dismissed the
appeal, thus establishing the validity of the foreclosure.
Reorganization plans were issued for the Norfolk & Western,
the Memphis & Charleston, the Oregon Short Line & Utah
Northern and the Seattle Lake Shore & Eastern. A receiver
was appointed fo,r the Pittsburg & Western, this road being
part of the Baltimore & Ohio system. A re-sale of the
Marietta & North Georgia was ordered. Receivers were
appointed for the Central Vermont ; also for the South-
western Arkansas & Indian Territory. The Kinderhook &
Hudson, the Brigantine Beaoh, the Florida Midland and the
Humeston & Shenandoah were sold in foreclosure. New
receivers were appointed for the Louisville Evansville & St.
LouLs. The U. 8. Supreme Court sustained the injunction
forbidding the purchase of the Chesapeake Ohio & South-
western by the Louisville & Nashville ; the Court also sus-
tained the suit to enjoin the Great Northern from entering
into an agreement to control the Northern Paoiflo, as pro-
posed last summer.
— The Money Market.— The money market continued easy
during March, notwithstanding that both the monev hold-
ings and the surplus reserve of the New York Clearing
House banks steadily diminished — in part because of the
transfer of money to the U. S. Sub-Treasury from the
depositary banks holding deposits on account of the bond
payments, as noted above. The demand for call loans was
not urgent, and rates ranged between 2% and 4^ per cent,
with the bulk of the business at 3@3>^ per cent. At the
banks and trust companies the rate was generally 3)^@4 per
cent. In time loans thirty to sixty-day money was in the
first week quoted at 3 per cent, but later the rate for these
periods ana also for ninety days was 4 per cent, while for
lour to five months tlie rate was 4>^ per cent, and for longer
dates 4J^'a5 per cent. For commercial paper the rate for
sixty to ninety-day endorsed bills receivable the first week
of the month dropped to 4% (8.5 per cent, but the failure of
aome important houses in various parts of the country led
to a rigid scrutiny of names and the rate was a little stiSer
at the close at 5^4 per cent.
— Foreign Exchange, Silver, Etc. — Foreign exchange devel-
oped a rising tendency the latter part of March and the
indications pointed to an early renewal of the outHow of
gold to Europe. A feature was the high price asked for
cotton drafts, the figures ruling close to those for bankers'
long sterling. At the beginning of the month the rates for
actual business in bankers' sterling were 4 8«J^ 44 87 for
sixty-day bills, 4 87Ji@4 88 for sight and 4 88®4 88^ for
cable transfers. These rates remained unchanged until the
9th, when an advance of a quarter of a cent was made. On
the 13th the advance was lost, and on the 18th there was a
further reduction of a quarter of a cent, leaving the rates
at 4 86U@4 86^ for sixty-day sterling, 4 87»^'»4 87?^ for
sight and 4 87^@4 88 for cable bills. Thereafter the market
grew strong on rather a small volume of business and
steadily advanced. The close was at 4 87?^ ©4 88 for actual
business in long sterling, 4 88=^@4 89 for sight and 4 89@
4 89)^ for cable transfers. The Treasury raised the cliarge
for gold bars from 1-16 of 1 per cent to 3-16, and made this
also the price for jewelers' bars, wliich are usually sold a
little lower. In the market tlie fractional premium on gold
previously ruling practically disappeared. In the European
money markets the discount rate for sixty to ninety-day
bank bills in London was much of the time only 11-16 of
1 per cent. The price of silver fluctuated between 81J^d.
and 81 9-16d. per ounce.
APRIL. — Current Events. — Improved weather conditions
eauaed business to start up a little during 4pril. Besides
this the action of some leading State conventions of the two
political parties in taking a positive stand on the silver
question had the effect of relieving the anxiety in that re-
gard to an extent; then also discussions in Congress of irri-
tating matters calculated to disturb our foreign relations in
a measure ceased. Furthermore European capitalists for
■the first time since the disturbance the previous December
showed an inclination to buy some of our stocks and bonds.
The better weather changed the aspect of the retail trade,
and this in turn reacted favorably on the wholesale lines
of business. The House of Representatives on the 6th, as
noted in March, adopted the Senate resolutions recognizing
the belligerency of Cuba in place of its own resolutions,
and this ended that matter. 'The resolutions were "concur-
rent," not "joint," and were not sent to the President for
approval, and he took no action in accordance with them.
On the 23d the London "Times" published a despatch from
its Washington correspondent saying that the negotiations
between the United States and Great Britain regarding the
Venezuela boundary dispute were at a standstill. This had
a slight adverse effect on the Stock Exchange, but was oth-
erwise without influence, as reassuring statements were
made in Parliament. The gold outflow (the first since the
February bond sale) began on the 7th, and the net ship-
ments for the month from the United States aggregated
$2,662,498. The metal for the first two consignments
was not taken from the United States Treasury but was
furnished by one of the banks. The payments of gold into
the Sub-Treasury on bond account were small, while there
were some withdrawals from the Treasury every day
The gold reserve was reported at $128,646,461 April
and at $125,393,900 May 1. On April 30 the Secretary
of the Treasury made a call for another portion (about
$3,600,000 1 of the gold held on bond account, and pre-
viously in the month there had been voluntary transfers to
amount of about 214 million dollars. The average condi-
tion of winter wheat April 1 was only 77'1, but an im-
provement to 82-7 occurred by the 1st of May. New York
City failed (Chboxiclk of April 4, page 612,) in an attempt
to sell 3 per cent gold bonds, and the rate of interest was
advanced to 3^ per cent, and the bonds were sold in May,
the bids on this latter occasion aggregating $37,702,017.
-^Railroad Events and Stock Exchange Matters. — Under
the improvement in conditions noted above the stock
market showed a rising tendency and prices gradually ad-
vanced, in some cases touching the highest prices of the
year up to this time. The dispatch in the London " Times "
already referred to exercised some adverse effect, but only
temporarily. In the closing days of the month the market
reacted, though the advance was on the whole well main-
tained. St. Paul common sold at 1l\% on the 9th and at
79>^ on the 28th, Burlington & Quincy at 77 on the 9th and
at SS^s' on the 24th, and Louisville & Nashville at 48?^ on the
7th and at 53!^ on the 21st. Decrees were issued towards
the close of the month for the sale of the Reading, the
Northern Pacific and the St. Louis & San Francisco. A
decree was also issued for the sale of the Jacksonville Louis-
ville & St. Louis. Default occurred in the payment of the
coupons due April 1 on the 6 per cent bonds of the Ogdens-
burg & Lake Champlain. this road having formed part of
the Central Vermont system. The Illinois Central acquired
control of the St. Louis Alton & Terre Haute. The Detroit
Lansing & Northern was placed in the hands of a receiver
pending the carrying out of the reorganization plan. The
Pittsburg Marion 8c Chicago was sold at foreclosure; also the
Birmingliam Powderly& Bessemer and the Norfolk Albe-
marle & Atlantic. A reorganization plan was issued for the
St. Louis & San Francisco, providing for the separation of
that system from the Atchison. A settlement between the
Northern Pacific and the Chicago & Northern Pacific was
agreed upon, and also between the Oregon Navigation and
the Union Pacific. Receivers were appointed for the Excel-
sior Springs RR. Another plan for the reorganization of
the Meuii)his & Cliarleston was issued.
' — The Mimey Market.— la connection with the 1st of April
settlements the rate for call loans at the Stock Excliange tem-
porarily advanced to 4}^ per cent, but afterwards the mar-
ket again developed steaduy growing ease, and at the close
loans were freely made at 2@3 per cent. At banks and trust
comiianies the rate dropped from 33^@4 per cent to 3J^@3
per cent. For time money 3 per cent was the ouoted figure
at the close for all dates from thirty days to four months,
3\4 per cent for five to six months and four per cent for
seven to eight months. For choice double-named paper,
running sixty to ninety days, the rate at the end of
the month was only 4^(34?^ per cent, against 5J^06 per
cent at the opening. "The return Bow of money from the
interior was very heavy, and notwithstanding the transfers
to the Treasury and the gold exports, both the money hold-
ings and the surplus reserve of the Clearing House banks
largely increased.
—Foreign Exchange, Silver, <fcc. — There were few special
features in the exchange market during April. The gold
outflow foreshadowed in March did not reach large propor-
tions. Towards the close of April the decline in interest
rates here removed some of the inducement to loan foreign
capital, and exchange again advanced, causing a renewed
export of gold in May, but it was a question whether
the export was justified as an exchange operation.
On actual business the rates for sterling stood at
precisely the .same figures at the opening and close of
the montli, namely 4 87X04 88 for sixty-day biUs, 4 SSX
@4 89 for sight and 4 89(@4 89^ for cables. In the interval,
however, the rates first rose a quarter of a cent (this was
on the 6th), then (on the 10th) declined a quarter of a cent and
on the 14th declined another quarter, thereafter moving up
and down irregularly. In Europe there was a slight hard-
ening in the money rates at the leading financial centres.
FEB CHRONICLK
[Vou LXIV.
tte* »M up to lU, but mUin-
n gad oa Um u>l«Uix«nry that th*
■■■■Imi atUwMdor t«tt h»a
huOm itiM diMMd to IU)i. (rom
•■Ir » illikt i»Minijr wkM it WW
nlKraawat U» TRMnMlBspab-
^^^A Qibtaat cvWa in rnmo-
Tbe prlr« of MlTer
MAT.
U fm
><>>^r
I A«Ml-TW poMUMl aiMMkia at* w
■ni<BW ilirtni Hirj •^'-" — advoeslM
r fl> l>> WilinMMiMlIn y^gggM
■4 llHrawMSBlw liwIilB ■tolhi)'^
Oaiilliw iwM bo doMBdwl oo
rfarllMagUiluidud. JU*iwalt
no. Gold ozpom won large.
IMC I>ywti iatotboTwwiry
1 alo woo ■Bsll.noia
«t abowod iMorly
____ _ ia the Sottthern
■mUmt ooaaHhMio wore wxnmnXiy rery fa-
m cvoB*. tan la tho Na(th««at the pUntini;
I ■■iiSkriit br lataiL Qdt« m nomber of
aeoamf ia tho Wm*. aad St. Louis wm
t7 by a tantte tonadok eaodoc tho kw of
it UvM aaa tlw Jimrtiw o( proporty worth
Itaato mmd Stodt tmkamat MattT:-VndeT
I ia m4o aad tJM aneafwntr reRmrduiK the
■lattoa oa tlio Stock ExohaoKe was
4baalaMi oaae alnodl toaitmndstill
tWi lalamltrrt ftt T — ' '-"- -' ' ""
Thoilwr* MlMi«aolie<l only
I with Mai,707 ■hana in >lay
/of prioea waa downwards,
» was aol laita except in special instances.
■d aloek t*n 06 sharply, bat snbeequently,
of Iba AnpeUste Dtriaoa of the Supreme
t to » UuBi m taa report of the Commissioners
«f taa Ba|iii1 Tkaasit raad, which was intorpreted
■MMI tka kflUaa of tba piojaoi, a decided recovery
■Md, aadf to ba lollawad tir raa a wed weakness. JudKe
' r la thaUaltadatataaCimdt Court for the Soathern
of Now York, daaied the prtition of the U. S.
tat aa lajaaotfaa SKain<t the Joint Traffic
Iforfolk A Wsstem reorganisation plan
_ The laoaivefa of the Baltimore &
OMawaiaaathMtaad to issue fB.OOO.OOOraoeiTers'rertiticates
To avoia deftalt the Columbus
, 4k BoeUas aaaooaoed its iateation of pa^-inK in
in prior lien serip the ooopoas dae July, 1^, and
tWr^OB its veasnu laortAge iMtids. The Cincinnati
A Kortham was pofOMMod br the Pennsylvania
. TW iMiiavllW St. Loais 4t Texas was sold at fore-
ala: also tba Orsaa Bay Winona A St. Paul, the
B W a l ai ha i j * Ooaaaotiont and the Seattle Lake
» M Bsatsra. A laeaitag waa appointed for the Duluth
ttamlaal Hailwar.
YV JfcMTf ttarkiL—Th* ease in money grew still more
fMaeaaoad darlac l^ay- 1^ dalneas of trade and absence
«f ffooalaliaa aooaiatatadtbadowof ourrenoy to this centre
iMMthalaMridr, aad at tba saaM tiiae diminished the de-
■MMd lor aoBajr baia. Motwitfaalaadinx the exportR of
dvftac tba BMBth, tlie New York Clearing
ba f«port«l flMLMMM of specie and legal tenders
MaySMb. a«alast (I4MM J06 May <; At the ofose of the
tSllK
MoMb eall aMMMy loaaed frsely'on the Stock Exchange at
IH«> psreaat aad Ibe rate at banks and trust companies
waaalsoaalytpsroMt. SooMrsdaction was also made in the
■Mas to Mbm aoalaaiMa ta tba last week of the month, and
fwaalHaaoa good Stoek Eaohanga collateral were 2^i per
•It to tbirtrto sixty dava,! par oent for ninety <lars to
m m mm t tm, t^ psc eaat for Sva to six months, and *<ti4^
yar oaat to M««a to eight aio a t bs For (xNnmercial pa|N>r
■•as at Oka alaia ware 4« 4W par cent for sixty to ninety
%y. aMd gwM bmn laost tabfe and 4M«4>ii per cent for
WHS um mtatm cemmmlou bnais aaiuss. liMSecretary
a« tbe T waaa ij aa tba IMh mada aaotbar call on the <le.
toapotttai of tba pKneads still h.id by
oa smaaU of tba PWbroary bond sale, and JS.ood.OoO
r tbat <ma was traasfarrvd to the Suh-Tr.a^ury the last
1 «t Ibe aioatb. tb* reet of the amount ••ailed l^inir
r tba sarty nrt <>f Juae.
»_*5??i*''' *'"'• ♦<• -In the rales for actual
. . to '"■tof* aaebaage that* w»r» only five changes
S^T^. '"y • J*y *.*— ^*¥**' "* * °*«» per pound sterling,
■■• •■aaaas nonit aHsvaataiy «p aad down, so the range for
na moaih also was oaly oae-qaartar ..f n rrnt. The close
T nas i|aart»r low«^ than the openinir. nt 4 x7Ua4 87?^ for
--•— MUs. < WV- ^ l4tJ^^4«ffor
P"")' '>ed Tery scarce.
•»" Miinl.il chiefly to thcM'
It wo* n-iHirted'thnt four
" '-.ixU and $4.0iK».O0Cl of
^1 sold ahmsd, and also
'« hiwl lie^-n floated in
-^.^ -ar»id in the mar
•• fWa U .nued. the net ex-
portt beiuK $1. '4,400.41.%. The Treasury on the 20th reduced
the premium on ko1<1 bars from 8-10 to 1^ of one percent.
In Europe au instalment of {^14 million.s sterling on account
of the Jaimn indemnity was paid by China to Japan, two
million (MiuniU of the aiiiount being loft for the time being
with the Iin|ierial iiank of Germany instead of being trans-
ferrr<l to the Dank of Kii.;land. The (coronation of the Csar
of Kumia occurn-d. and during the festivities an accident
took |>lacc at which over a thousand iiersons were trampled
todeath. Tike tluctuations in silver were unimportant. In
j/ nmiAtwi English oonsols again advanced, and they closed at
tl8^, a reoovery of over two points. At the Oerman mone-
tary centres interest rates showed a hardening tendency.
JUNE.— Ciirrmf BoenU.—Tbe political situation con-
tinuetl the dominant factor in affairs during June. The
Republican National Convention was held on the 16th, 17th
and IMlh. The money plank in the platform was sharply
contested iMth in committee and before the Convention ;
the silver advocates submitted a minority report and minor-
ity resolutions, but were overwhelmingly defeated. In the
CV>nvention the free-silver substitute offered by Senator
Teller received only 105^ votes, while 818^^ votes were cast
against it, and the vote on the adoption of the financial
plank was 818^ to 110^. Following this action, 21 of the
silver delegates bolted from the Convention, comprising the
entire delejjation from Colorado (eight niembersi, headed
by Senator Teller, the entire delegation from Idaho (six
men), headed by Senator Dubois, 2 delegates from Nevada,
8 from Utah, 1 from Montana and 1 n'om South Dakota.
The effect in business circles was very beneficial ; but this
waa counteracted later on by the unfavorable developments
regarding ttie attitude of the Democratic Party. Ex-Secre-
tary of the Navy William C. Whitney and other leaders
initiat^'d a vi^jorous movement in favor of sound money, and
the New York State Democratic Convention adopted reso-
tions favoring bi-metalli.sm by international agreement, but
declaring that meanwhile the gold standard must be main-
tained. In Ohio. Indiana and Illinois, however, the Demo-
cratic Conventions all pronounced for silver, making it
evident that the Democratic National Convention would be
controlled by the silver element. The price of United
States 4s of r»2.% advanced from 116?^ to US\i on the action
of the Kepublican Convention, but dropped back to 116^
again after the other events noted. Trade and business con-
tinued restricted. Several of the New England cotton mills
shut down and the movement became quite general in July.
Print cloths sold at 2 7-16 c«nts. the lowest price on record,
and staple ginghams and bleached cottons also touched an
unprecedentedly low figure. On the 2d of the month the
United State Senate, bv a vote of 32 to 25, passed the Butler
Anti-Bond Bill, prohibiting: further sales of (Jovemment
bonds ; when the bill reached the House of Representatives
it was promptly rejected by the Committee on Wavs and
Means an<i would undoubtedly have been rejected by the
House also had it come to a vote. The President on May 20
bad vetofd the River and Harbor Bill because of its extrav-
agance, but the bill was passed in June over the veto by a
verv large majority. He also vetoed on June 6 the General
Deficiency Appropriation Bill because of the allowance in
it for the payment of the old French spoliation claims
dating back to the close of the last century. This veto was
upheld and a new bill passed with that item omitted. Con-
gress adjourned on the tlth. The final payment by the sub-
scribers to the Government loan of February fell due, but
little remained to be j)aid. The Secretary of the Treasury
called on the depositary banks for the remainder of the
money held by them on bond account, estimated at $4,500,-
000. Gold exports continued and about $6,000,000 net went
from the United .States. The Treasury gold reserve was re-
duced from $108,345,234 to $101,699,605. The price of antiira-
cite coal at tidewater was further advanced 25 cents a ton.
The crop situation remained very favorable except for
winter wheat, the condition of oats June 1 lieing reported
fi8'8, cotton 97-2 and spring wheat 99-9. In our foreign
affairs a slight ri]>ple was caused by the arrest by the Vene-
zuela authorities of a Crown surveyor on territory in dispute
between Venezuehi and British Guiana ; this was quickly
followed, however, by his release.
—Ratlrofiii Kvfnta arui Stock Exchange Gaffers.— The
stock market was depressed during June. The week before
the Republican (Convention the market for a time was
almost jKinicky. But the next week when it became appar-
ent tlial the Convention would declare its adherence to the
gold standard, jirices displayed much streuKth and quite
a general advance occurred ; the realizing sales soon
oause<l a reaction and later the course of the Democratic
State conventions in the West led to renewed weakness, re-
sulting linnlly in a sharp break in the closing davs of the
month. BurlinRton * ynincv sold at SOJg on the "l7th and
at 7S>» on the 2«th ; Rrnk Island at 72?g on the 17th, 6.514^ on
tha »th ; and St. Paul common at 7»;g on the 17th, 73*i on
the 9t|i. The industrial stocks were esjtecially weak and
American Sugar common dropped from 125 on the 6th to
\^\ on the 3»th. The Denver A Rio Grande declared a
dividend of one [ler cent on its preferred stock. The Cedar
Falls A Minnewita was sold at foreclosure and purchased in
the interest of the Illinais Central. Austin Corbin was
killed in an accident on June 4. The Central Pacific offered
to extend its first mortgage bonds due July 1, 189«, until
January I, 1898, at 5 \ieT cent. Messrs. Blair A Co. of New
JXNUABY 2, 1887.]
IHE CHUONICLE.
13
York purchased a controlling interest in the Houston East
& West Texas. The St. Louis & San Francisco was sold at
foreclosure ; also the New York & Sea Beach, the Grand
Rapids & Indiana, the Frederick & Pennsylvania Line,
the Jacksonville Louisville & St. Louis, the Cheraw &
Chester and the Minnesota & "Wisconsin. The Ohio South-
em, which had previously defaulted on its general mortgage
bonds, also defaulted in the interest due June 1 on the first
mortgage bonds. A receiver was appointed for the Colorado
Coal & Iron Development Co. The Green Bay & Western
was formed to succeed the Green Bay Winona & St. Paul.
The Georgia Midland was leased to the Southern Railway.
The United States Circuit Court reversed the decision of the
lower court and declared legal the guaranty of the Rich-
mond Nicholasville Irvine & Beattyville RR. by the Louis-
ville New Albany & Chicago.
The Moneit Market —Money rates ruled very easy the first
half of June, and call loans at the Stock Exchange con-
tinued to be made at 1}^@2 per cent; but the payment into
the Sub-Treasury by the depositary banks on the 15th of
$4,000,000 of moneys held on bond acccount, (in addition to
$500,000 paid the previous week) on the final call by the
Secretary of such moneys held, stiffened the market, so that
the rate advanced to 2cd3 per cent ; from this there was a
drop to 1^4>3 per cent again, followed at the close of the
month by a temporary advance to 3(34 per cent, due in part
to the flurry in the stock market. At banks and trust com-
panies the minimum rate on new contracts was first 2 per
cent, then 2% per cent, then 2 per cent again and then
8 per cent. Time loans after the middle of the month
were quoted about half of one per cent higher, at 3
per cent for thirty to sixty days, 3^ per cent for
ninety days to four months and 4 per cent for five
to six months. Some business in Extern city paper, made
in anticipation of the collection of taxes in November, was
done at 3'^ <c 3'^ ])er cent the early part of tlie month and at
8J^@4 per cent the latter part. Rates for commercial paper
were firmer, but very little changed, at 4(»4i^ per cent for
sixty to ninety-day endorsed bills receivable and 4^(96 per
cent for choice four months commission house and first-class
single names. In face of the transfers from the depositary
banks to the Sub-Treasury, and the gold exports, the money
holdings of the New York Clearing House banks were only
slightly reduced.
— Forrign JuaJiange, Silvrr, Etc. — Rates for actual business
in exchange moved irregularly up and down during June
within a narrow range; the close was one-half a cent lower
than the opening at 4 87(34 fil\4 for sixty day bills,- 4 88(3
4 88 >^ for sight and 4 8814(34 88^ for cable transfers. The
supply of commercial bills was very small, and bills against
purcha.s<>s of .stocks by the arbitrage houses were observed
only (luring the week when the Republican Convention was
in session. A good part of $.'),100,(K¥J Milwaukee Electric
Railway & Light Company 5 per cent gold bonds was placed
abroad by Messrs. J. P. Morgan & Co., and foreign interests
porohased for $7,000,000 another block of Anaconda Copper
mining stock. The olTering of bills against these and other
loan negotiations tended to supply a part of the inquiry for
exchange, and in addition, as noted above, the net out-
flow of gold amounted to $8,000,000. The silver market
was firmer, and on the New York Stock Exchange there was
quite a speculation in Silver Bullion certificates. In London
the price was 31 IMfld. June 1 and 31>^d. June 30, the highest
having been 31 9-16d. In Japan a tidal wave destroyed from
25,000 to 30.000 lives.
JULY. — Current Eventa.— In July the sittiation became
highly critical. The Democratic National Convention at
Chicago, held July 7 to July 11, not only took a stand for
the independent free coinage of silver by the United States
at the ratio of 16 to 1, by the large vote of 628 to 801, but
pronounced in favor of a number of other dangerous doc-
trines. Dominated by the Altgelds and Tillmans, the con-
vention declared against any further issue of Govern-
ment bonds; demanded that holders of obligations of the
United States should no longer be allowed to choose the
kind of money in which they would receive payment; de-
nounced Federal interference in local affairs and "govern
ment by injunction," the reference being to the action of
the General (xovernment and the courts at the time of the
Chicago riots in 1894; and hinted at a purpose to reorganize
the U. S. Supreme Court. William J. Bryan, an ex-Congre.ss-
man from Nebr^ka, who captured the convention by one of
his speeches, w»8 nominated for President and Arthiu-
Bewail of Maine for Vice-President. The action of the con-
vention caused great uneasiness in the public mind, and
the next week (ending the 18th) the Stock Exchange showed
great depre-ssion and a heavy decline in prices. On Monday,
July 20, the situation reached an acute stage; the gold ex-
port movement had been resumed on a large scale; there
were also considerable withdrawals from the Treasury for
boarding; the price of the new Government 4s was down to
112?^ for the coupon bonds (against 116?^ earlier in the
month and 118!^ in June after the Republican Convention);
m the stock market prices were dechning at an alarming
rate, and the Government gold reserve was down to below 90
million dollars, with the prosj)ect of further large withdraw-
als. At this juncture the banks and tru.st companies of this
citv aiTPod to place part of their gold at the dis|iosal of tlie
1 ;tnd Boston, Philadelphia and Chicago were also
• ^ 111 the movement; altogether it is believed about
$25,000,000 was contributed. In New York the transfers
began on the 22d and by July 31 $18,240,000 had been turned
over. At the same time Mr. J. P. Morgan convened a meet-
ing of the foreign exchange houses and gold shippers to
devise plans for stopping further exports of gold. This
proposal almost in itself sufficed to check the gold outflow,
and the syndicate did not find it necessary to sell a large
amount of bills in the aggregate. At the end of the month
the Treasury gold balance stood at $110,718,746, and the
price of the new Government 4s had recovered to 114. There
was no bolt from the Democratic Convention as in the case
of the silver people at the Republican Convention, but the
ticket and platform were repudiated by leading Democrats
and newspapers aU over the country, and at a gathering at In-
dianapolis on August 7th a call was issued for another Demo-
cratic National Convention to be held at Indianapolis
September 2d. The Populist, or People's Party, also neld
their Convention on the 22d to the 25th inclusive. They
nominated a candidate for Vice-President first, choosing
Thomas E. Watson, and then endorsed Mr. Bryan for Presi-
dent. The National Silver Party held their Convention
about the same time and endorsed both Bryan and Sewalli
Owing to the generally unsettled condition of things, both
New York City and Brooklyn failed to dispose of their offer-
ings of 3}4 per cent bonds. The crop situation continued
very favorable.
— Railroad Events and Stock Exchange Matters. — Great
depression ruled on the Stock Exchange during July, as the
result of the events above narrated. On Monday, the 20th,
a panic was only averted by news of the contemplated ac-
tion of the banks in giving up part of their gold to the
Treasury. This movement and the action taken to prevent
further gold exports led to a sharp recovery in prices. But
subsequently the market weakened again, and many stocks
touched lower figures than before. The sudden and
severe sickness of Mr. Cornelius Vanderbilt was also
used as a depressing influence the last half of the
month. A rate war between the Seaboard Ait Line
and the Southern Railway had an adverse effect on the
stocks of Southern roads; this war was arrested just as it
threatened to involve all Southern roads, by an injunction
wanted by Judge Simonton in the United States Circuit
Court at North Carolina. The extremes for the month for a
few leading stocks were: Central of New Jersey 103J4 July
1, 87% July 22; Burlington & Quincy 78J^ on the 13th, 62Ji
on the 20th; St. PaiS common 76 on the 11th, 66=^ on the
29th; Rock Island 66^ on the 1st, 52^ on the 20th, and Lake
Shore 148'^ on the 13th, 137 on the 20th. During the month
the Canadian Pacific agreed to join the Joint Traffic Associ-
ation under certain conditions. The Wabash declared a
dividend on its debenture C lass A bonds. The Sandusky
Mansfield & Newark (part of the Baltimore & Ohio system)
defaulteil in the interest on its first mortgage bonds; the
cou]K>n was paid the following December. The dividend on
Central Ohio stock was also imssed. The Terre Haute &
Logansport and the Bloomsburg & Sullivan likewise de-
faulted. A receiver was appointed for the Seaboard Rail-
way, a small road in Alabama, and also for the Denver Lake-
wood & Ciolden. The Columbus & Hocking Coal & Iron re-
ceivership suit was (li8niis.se<l and the July interest was paid.
The Northern Pacific was .sold at foreclosure, also the Oregon
Railway & Navigation (besides several of the branch lines),
the Kansas City & Omaha, the San Antonio & Gulf Shore,
the Carolina Knoxville & Western and the Duluth & Win-
nipeg. The Fourth Avenue Street railway line of the New
York & Harlem was leased to the Metropolitan Street Rail-
way. The Wheeling & Lake Erie increased its stock $5,000,-
000. The Chesapeake OhioiS: Southwestern was sold at fore-
closure and purchased by the Illinois Central. The Great
Northern arranged with a Japan line for steamship service
between Seattle and Japan, (jhina, etc.
— The Money Murket — The unsettled state of things in the
financial world was not felt to any great extent in the call
loan branch of the money market, where the rate did not
get above 3 per cent, but in the market for time loans and
commercial |>aper the effect was marked. Lenders showed
unwillingne.ss to put out their money for long periods, even
on the best of collateral, and at the close of the month the
ruling rates were 5 per cent for sixty days to four months
and 5^(36 per cent for five to six months. The same condi-
tions also affected the market for commercial paper and at
the close of the month rates were firmly held at ii}>iid& per
cent for sixty to ninety day endorsed bills receivable and
6(97 per cent for four months commission-house and first-
class single names.
— Fomga Erctuingf, Silver. Etc. — Foreign exchange was
heavy early in July in consequence of the offering of bills
against stocks bought for European account. London did
not at first seem disturbed by the action of the Democratic
Convention, but later, on the serious view of the matter
taken in this country and the unfavorable developments
resulting tlierefrom, that market too began to show uneasi-
ness. About this time there was likewise some buying of
long sterling for investment. Exchange consequently de-
veloped increasing strength, and by the 16th rates for actual
business in sterling had advanced altogether about one cent
per pound to 4 88.1.4 8814 for sixty-day bills, 4 88^^(34 89 for
sight and 4 89 rt 4 89(4 for cable transfers. Gold exports
to Europe for the week ending the 18th aggregated
$3,316,000 against only $400,000 for the whole rest of the
month previous to that time, and on the 20tb $3,033,000 was
tttter. TV
THE OBRONK^LE.
[Vou LXiy.
teUite
III
cttofign
«o fltoek Am twtb«r
!■ Iln ■■>— tnff rT Um
al bwtaMi lor lontt
_ la«4tlwr itflilntaaareiKbtotmw-
M Mto*^ ^ • tartlMT radwiUaB of a qiutrt^r
talW Imkt ml* oa tto «d Md • vadooUoa mix) of
of • rMii in Um Mlwl nlM foriigM sad <->>>>«
ioMd darlMli^toid pro-
bM aflior that tiMM WM« no
,^ — rliil MbMqoaatly booamo
ttlfc thw wBJi an ndraoo* of ooo-
of a'ooai. kWTiac aotaal raU« at Um eUm of Um
•I « «7V«4 w fw «i>«r-<iar l>UU> * ^^ ^J**
4ia«4l»^forc»hla uaBafon,orat iSa Uc^
^ 'orloatalMiiBC. OathalalJuly
a» Iba Dattad Stalaa TVoaaarv
.^of oaa paroaattoooc-tanth
A tMrtWB la Baropa wma Um offering of a
loaa far l.«9ailliaa ftaaoa, which it waa reporteJ
" ' tar la Fkria twaaly-tre Um«a oTor. Money
atoaajr eaataia oonUanad to rule low
' liotlftT oant for aixtjr to ninety-
Airoun
mAf9at
ftaatUM 1
taaatad oa Um TMfo of a paalo,
af» la yalaaa. whlla UM^iabaay i
HWUCT.— ■Oafi'aaf Awat*.— Tha aituatiun ohangad de-
•ar UM ba««ar ia Aanat la the Mrly part of the
onUook ooaUaaM glooeiy. ForeiKn ezohanre
.. I hi(h: thara waia pantataat withdrawals of gold
Um Triataty oa doaieaUe aooount; the stook market
' I, with a continuous shrink-
aaariMt was diaturbed and
] to obtain. Thafailoreof the
ia ChlratB, wbo had b«aa aaaagad in a heed-
Im la Ibaatoeka of Um DiaaMBdMatoh Company
' Torfc Biaaail Oompaaf, aad whoaa liabilitiea were
MPnaaad al IHaia lanWoaa. Undad farther to increaae the
iMltac of aaaaafaMS Aa a raanlt of thie failure, the
OUoaaelNoefc BxekaaM waa olosed from AuguKt 4 till th)>
foBovbc Kovaabar. The doainf of the Murrav Hill Bank
la tUa attr oa the lltb by tba StaU Banking Department
ted Itaa aiaet, aa it waa a amall iiMlttvUcm. Perhaps the
ortaat fketor of all waa tba nervona dread felt
r aa to the effect of the meeting on the 18th at the
Sonare Oarden. when Mr. Bryan waa to receive
I of Ut itntninatioe and make a apeech, with the pur-
aa aaaooaead. of taking poaswion of the "enemy't
" Thia marring, aa it happened, marked the
noint. It prored a failure, aa the audience,
1at|r, qukikly dwindled away, and the
alao wa« ragaraed as weak. The stoct mar-
) aaxt mamtng roae sharply and moved
I tba real of the month. The political outlook from
; tIaM oa steadily improred, Mr. Bourke Cockran address-
^a MMatiac ia fisror of aound money at the Madison
If* OanlaB tba naxt week, whioh proTed an unqualifled
I, aad Mr. MeKialay'a lattar of aooeptanoe, in its pro
d ilaad oa tba mont/f qneatloa. alao haTing a good
Aa aqaaUy notable ehaage took place in the financial
•. ForalfB exebaage from the fth of the month de-
I afanoat ooatlaaouriy. and, whereas in July an agree-
It to stop erporUng gold waa found necessary, at
of Augoat aa impart movement of large vol-
in l a ug iaai. The Hiat engagement of gold for
M a B a« i a B<» d oa tba IMb aad was bv many looked
I aa part of tba raUof work aadartakan by'tbc syndicate.
it aooa beoame apparent that the movement was a
arhollr aatoral oee. The deposiu of imported gold did not
oooM la ttea to eoaat in the Treasury figures in August
aad tba rMsrro Mood at only |100,M7,M1 September 1
aoUaat t1IO.7tB.74i Angoat 1. n* failure of Hilton. HukIius
ITCoL tba lattar part of tba mooth had no intluenov on
Now Tort City acaia Callad to aell iu bonds, the
ag wrt B ai a rt bat prioaa oaaattaCMtory. In Brook-
I Ifca loeal baaka took 0,000.000 of per oent gold tax cer-
oataa. QropproaperU oootintMd good on the whole and
[oora rxeaadiagly bright: in spring wheat, however, some
~' ' " i^la onndition oocurred, and the onUook for
sat n
waa taaetently impaired to induce an active bim'cu
for a rtsa. under whiob tba low middling upland
bat* ia Kew York adraaead Aram 7 1-16 oenu to 8W
-«r pooad. tba oloar. bowovar, being at 7W; oenU on
_^^ i^wablaadrloaaaato tbaorop. A further advance
« M acata a toa ia tba tidawntar price of anthracite coal
mm MMaoaa, to go into effact Septaaiber l.
^;P'H!?5I' !*?*• *** ***** MtA a m g t Jlatt«r«.-Price8
{■ttaBla^ tiubaajui tba early part of Jutv declined very
■Maw. HttbotaOaraof tbaBirTaamaetinK at the Madi-
iM ■iW* Oardaa oa tba ittb and the subitcnuent
aiwaHa davalopoMsta ia tba inlltirsl world, with the
naaooB iaflox of goU from abraa<l and the itn-
ia tba iaaaeial altaatiaa, worked a wonderful
ia tba ooaraa of the market, so thst a
aetaaUf And bifhar oa tba Stat than on the
™.»a*a* po*BU aa a lala wart laaobad between the
aad the llth. thew aim baiag ia moat oaaes tba lov est
for the yaar. 8t. Paul coiaaioa aold at MU on the
MJI oa tba lOUi. and okaad at OOi^ '
\trouMi4
on the 1 1st.
1 aold down to ^^
Aaaust 10 and touched 06 on^the 81st. Rook Island opened
■4113^ aad cloaad at S6^, the ran^e having been from 40)^
AagaatTtoSOV Auniat 81. Burlington ft Quinoy sold at
M oa tha lit and at S3 on the 7th, and oloaed at 61^ on tha
Slat. Tba railroad rate situation west of Chioago and St.
Loniagrew mon* unfavorable. In the South the injunction
»gmiii«t. the nit<> rt'duotions of the Southern Railway and
tfie Seaboard Air Lino was dissolved on August SI. TIm
LooiaYiUa New Albany A Chicago waa placed in reoeivar'a
baada to aacape liability for the guaranty bv a former man-
a(anaat of the bonds of the Rionmond Nioholasvilli' Irvine
dt Baa tt yville RR. A propoaition to sell the Ciiu-iunati
Southern to the Southern Railway and the Cincinnati
Hamilton ft Dayton waa rejected by a vote of 15,780 to
15 JM at a special election in Cincinnati. A receiver waa
appointed for the Kings County Elevated.
— TV Money Jfarlwf.— Money rates ruled high during Au-
gust for Ifjans in any form. Tne banks were low in reservea
and <»lled in loans; credits were greatly curtailed; there
waa a very active demand for monev from the interior, in
part to move the crops, but in part also beoause of the gen-
erally disturbed condition of tnin^; a disposition to hoard
gold again became manife.st, leaaing to withdrawals from
the banks for excliange into gold at the Treasury, and mer-
chants found it ditlicult to obtain needed accoinmoilations.
To relieve the strain suggestions for the Lssue of Clearing
House loan oertifioatea (under authority granted the pre-
vious December at the time of the p inic caused by the Ven-
exuelan incident) were made, and the Loan Committee met
several times to consider applications, but none were re-
ceived. The latter part of the month the sharp fall in for-
eign exchange and the resulting large enf^ageinents of gold
in Europe for the United States gave promise of relief in the
natural way, though the importations did not come in time
to affect rates. The surplus reserve of the New York City
Clearing House banks was onlv $8,886,300 August 29, as
against $17,728,600 August 1, ana the money holdings in the
same interval were reduced from $138,982,100 to $121,819,900.
On the Stock Exchange the call loan rate advanced to IS par
cent at one time towards the end of the month, and hardly
any loans were made at less tlian .5(S6 per cent. Banks and
trust companies exacted full 6 per cent where they loaned at
all. On time, loans could be obtained only on the payment of
a commission amounting to one or two per cent in addition
to the rate of 6 per cent. The foreign oankers in some in-
stances loaned at plain 6 per cent, but on a good note. In
commercial paper only the very choicest grades found buy-
era, and these commanded 9@10 |K*r cent.
— ;Forei(;n £<re/ianffe, Si/rer. £fc.— Seldom has there been
such a decided cliange in the tone of the forei|?n exchange
market, and such a great decline in rates within so short a
time, as occurred during August. The month opened with
the market strong and rates high and advancing, so that it
seemed as if only the existence of the syndicate organized
the previous month to step the export movement of gold pre-
vented an outflow of the metal. It closed with the exchange
market weak and unsettled, with rates down to the gold-
import point, and gold flowing this way in large amounts.
The explanation is toy be found in heav merchandise exports,
small iinrwrts, an early cotton crop (bringing a considerable
supply of cotton bills on the market) and high interest rates
here, leading to creation of loan bills. On the 3d rates for
actual business in sight sterling and cable transfers were ad-
vanced one-quarter of a cent, bringing them up to 4 89@
4 89,1^ for the former and to 4 89}4@4 89!>i for the latter. On
the 7th they wore reduced again a quarter cent; on the 10th
there was a further reduction of three-quarters of a cent,
and thereafter the decline was rapid to the end of the month.
The first engagements of gold for importation were made on
the 19th, when actual busmess in sight sterling was at 4 85@
4 85}^ and in cable transfers at 4 85}^(a4 86. Some were
then inclined to consider the imports forced and as part
of a scheme of the syndicate to relieve the situation here.
But subsequently the rate for sight bills dropped to 4 6S%@
4 84 and for cable transfers to 4 84@4 84^, and the import
movement assumed large dimensions. The decline for the
month in sight and cables was 6}i cents per pound, and in
long sterling 6>^ cents. On the closing day there was an
upward reaction of half a cent. The actual arrivals of gold
were only about 4 million dollars (gross), but about$15,000,i;00
naore was on the way at the close. In London the rate for
sixty to ninety-day bank bills in the open market rose from
^ to lU per cent. Silver showed great weakness, and the
OTice declined from 8i;|d. per ounce to SO^d., closing at
80 11-16d.
SEPTEMBER.— Ourrenf Bvents -Both the political and
the financial situation continued to improve during Septem-
ber. The honi-Ht-iiioney Democrats met in National Conven-
tion at lniliuna|)olis and nominated Senator Palmer, of llli-
noiM, for President, and Oeneral Buckner, of Kentucky, for
Vice President. About the same time (on Sei)tember 1) the
Vermont State election was held and showed an unprece-
dented plurality for the Republican ticket. The Maine State
election occurred on the 14th and ahio showed an unprece-
dented plurality for the Republican ticket. Both elections
were fought on national issues, making the result signifi-
cant. The gold imp)rt movement continued, the arrivals
reaching 84 million dollars. Much of the gold was exclianged
for currency at the Treasurr, and the Treasury gold balance
inoreaaad from $100,057,661 to $124,084,672. U. S. coupon 4a of
jA>fDARr 2, 13V7.I
THE CHRONICLE
15
1925 advanced from IIS'^ on August 31 to 117 on September
30. The money market relaxed very decidedly and the stock
market showei great strength. The wheat market was also
strong, the price here rising fromGJ-V Sept. 1 to717i Sep-
tember '30. General business remained very restricted, but
In New England many cotton mills resumed work. In the
iron trade the production of iron was reported only 112,782
tons per week September 30, or rather October 1, against
180,532 tons July 1 and 217,303 tons in November of last year.
Returns of railroad earnings were in many cases very unsatis-
factory. The Pennsylvania Railroad for August reported P^
mUliou dollars loss m gross earnings and lij[ million dollars
loss in net and tlie losses in succeeding months were equally
heavy. The price of low middling uplands cotton advanced
from 7}4 cents per pound August 31 to 8!^ cents Sept. 10,
but more favorable crop advices caused a reaction to 8 cents.
The crop situation showed a much smaller spring-wheat yield
than in 1895, a total wheat crop of about 412 mdlion bushels
against 467 million bushels last year, a cotton crop above
the small crop of 1895, a corn crop of unprecedented magni-
tude—over 2,200 million bushels— and an oats crop of about
670 million bushels, against 824 million bushels in 1895. The
drain of gold to the United States induced the Bank of Eng-
land to advance its discount rate twice — on the 10th from 2
to 2i^ per cent and on the 24th from 2^4 to 3 per cent. No
change had been previously made since February 22, 1894.
— Railroad Events and Stock Exchange Matters.— In-
fluencel by the favorable events noted above, the stock
market manifested great strength, and a further large rise
in prices occurred after the recoverv in August. On realiz-
ing sales the market about the middle of the month evinced
some hesitancy, but later the upward movement was re-
sumed. Milwaukee & St. Paul common stock sold at 65J^
on the 1st and at 73?^ on the 2Sth; Rock Island at 55J^ on
the 1st and at 63?^ on the 30th; and North West, common at
95 on the 1st and at 100 on the 9th. The rate war in the
Soutli between the Seaboard Air Line and the Southern
Railway broke out afresh after the dissolution of Jud^e
Simonton's injunction on August 31, but it was agam
checked by an injunction issued by Judge Emory Speer on
the 10th. The Central of Georgia declared a dividend of
1}^ per cent on the new 1st preference incomes, and the
Georgia Southern & Florida declared a dividend on its
1st preferred stock. The Evansville & Terre Haute declared
its 1st dividend oa its preferred stock. The Port Royal &
Augusta was sold at foreclosure. Default occurred on the
interest on the Terre Haute & Peoria and Indiana & Lake
Michigan bonds; also on the Union Pacific Sinking Fund 88.
The Norfolk & Western and Philadelphia & Reading were
sold at foreclosure ; also the Lynchburg & Durham and the
Houstoa Belt & Magnolia Park. A receiver was appointed
for thi? Duluth Transfer Railway; also for the Columbia &
Maryland and the Altoona Clearfield & Northern. The New
York Produce Exchange filed a complaint with the Inter-
State Connmarce Commission against the Joint Traffic
Association, charging discrimination against New York.
The Gulf & Ship Island was released rom receiver's control.
— r/je .Vo»«.v Afarfce<.—The shipments of currency to the
interior continued heavy during September, and the money
market remained in a more or less straineil condition a good
part of the month, but the large gold imports and the re-
vival of confidence caused by the improved political outlook
finally brought some relief. Bank failures at New Orleans
caused an extra demand for money at that point. The sur-
plus reserve of the New York City banks rose from $8,836,-
200 August 29 to |14,216,0.'5 September 26. The deposit line
of the banks ranged below the lo ins throughout the month.
Money on call at the Stock Exchange after having touched
12 per cent on August 31 ruled as high as 6 per cent once or
twice early in September, but after the Slst the rate did not
get above 5 per cent, except that on the 80th, on the October
settlements, 6 per cent was in some cases demanded. At
banks and trust companies 6 per cent was the minimum
figure all the month. On time, loans were very difficult to
obtain, and 6 per cent, plus a commission of one or two per
cent, according to the length of time of the loan, had to be
paid up to about the 20th of the month, when the commis-
sion was abandoned, and the rate dropped to 6;i( 7 per cent.
The foreign bankers loaned at plain 6 per cent the whole
time, but only on a gold note. Commercial paper was very
hard to negotiate and only the very choicest grades found
buyers at 9 per cent. Towards the close of the montli the
rate dropped to 7 per cent, with some little buying of prime
single-named paper at 8@9 per cent.
— ^oreifii Hleeti'inge. SUver, Etc — The exports of grain
and cotton were very heavy during September, and this
brought an abundant supply of commercial bills on the ex-
change market. At the same time the high money rates
here led merciiants in many instances to defer remittances
and also induced the making of some sterliui^ loans. Gold
imports hence were large, reaching 34 million dollars and
several millions more were adoat at the close of the month.
The Bank of England advanced its discount rate from 2 to
2J^ per cent, and then to 3 per cent. At the close a sharp
upward reaction in exchange rates occurred, making further
gold engagements for the time being out of the question.
The market opened on the Ist fractionally higher, with the
rates for actual business 4 821^(^4 82^ for sixty-day bills
and 4 84'^f§4 >ii^{ and 4 84'4(a4 85 for si^ht and cables
respectively. From that time on the decline was almost
unmterrupted, and on the 22d the rate for long I
sterling was 4 8U^(a4 81i^ and for sight and cables
4 83^@4 833^ and 4 84@4 84'^. From these figures an
advance of just one cent occurred by the close of the
month in long sterling and 1 '-4 cent in sight and cables.
Commercial bills got down on tha 23d to 4 80,'^i34 81 for
prime and 4 80(34 80J^ for documentary, subsequently ad-
vancing again. The Bank of Germany advanced its rata
from 3 per cent to 4 per cant. The prica of silver declined
to 30 pence per ounce, but recovered to 30 5-16d. In the
open market London the discount rate advanced at one
time to 2'^ per cent and at Berlin and Frankfort to 4 per
cent. Under the higlier interest rates and complications in.
European politics English consols declined from 112 9-18
August 31 to 109;^ Sept. 3 \
OCTOBER. — Current Eoenta.— With the near approach of
the election the strain in financial affairs during October
became intense. The indications unmistakably foreshad-
owed the defeat of the silver party, but nevertheless a feel-
ing of great nervousness and anxiety developed. Hoard-
ing of gold (and even of currency) again occurred, there
were large withdra^yals of the metal from the Treasury, and
all through the month gold ruled at a premium in the mar-
ket. At the same time savings banks felt obliged to increasa
the cash in their vaults (withdrawals by depositors being
very heavy), and interior banks also found it incumbent to
add to their holdings. In the money market great strin-
gency developed notwithstanding imports of nearly 28 mill-
ions of gold, and on the 29th the rate for call loans on the
Stock Exchange advanced to 100 per cent and on the 30th to
127 per cent. On the latter day a syndicate of New York
banks placed 10 million dollars at the disposal of the Clear-
ing House Loan Committee with which to relieve the strin-
gency. None of the gold imported went into the Treasury,
and the Government gold reserve fell from 124,034,672 to
$117,126,524. Advices from India told of impending famine
there, and a feature of the month was shipments of wheat
from California to India. There was a further sharp rise in
the price of wheat, followed by a reaction on realizing sales
and stringent money. The prices of other grains also ad-
vanced. The stock market was strong and higher on the
prospect of McKinley's election. The Bank of England ad-
vanced its rate of discount from 3 to 4 per cent, but this did
not check the outflow of gold to the tfnited States. A fa-
vorable event here was the restoration of rates by Western
roads, and the establishment of the Western Freight Asso-
ciation, described in the Chronicle of November 28, page
947. The premium on gold amounted to only a small frac-
tion at first, but towards the close or the month one per cent
was paid in some instances for spot gold, and contracts run-
ning to the end of the year commanded IJ^ per cent. A
large brokerage commission house advertised options on gold
guaranteed by a surety company.
— Railroad Events and Stock txchange Mat'trs. — The stock
market reflected the growing confidence felt in the success
of the sound money cause. Except some weakness the early-
part of the month, the tone was almost uniformly strong,
and a further decided advance in prices was established.
Stringent money led to occasional reactions. The restora-
tion of freight rates by Western roads (the higher schedules
in most cases going into effectNoveniber 2d), with the organ-
ization of the Western Freight Association, was a favoring
factor. During the last half of the month the tone of the
market was almost buoyant. St. Paul common advanced
from 67 J^ October 12 to 74V^ October 31, Burlington & Quincy
from 66^ on the 10th to 77 on the 31st, Northwest common
from 965^ on the 12th to 103'^ on the 31st, Rock Island from
57Ji to 671^, Louisville & Nashville from 413^ to 481,^, &o.
On Friday, the 30th, it was reported that bids had been made
to pay two per cent the morning after election above the
closing prices on the 31st in the event of the success of the
McKinley ticket. The New Orleans & Southern was sold at
foreclosure. The Columbus Sandusky & Hocking made a
traflic contract with the Wheeling & Lake Erie for the use
of the latter's tracks into Toledo. A plan for the reorgani-
zation of the Louisville New Albany & Chicago was submit-
ted. A receiver was appointed for the Ogdensburg & Lake
Champlain. Thp Mexican roads revived their old pooling
ap^eement. The New York Court of Appeals rendered a de-
cision reopening the foreclosure suit of the New York Sn
Northern, now the New York & Putnam, and controlled by
the New York Central. The Chicago & West Michigan an-
nounced that the November and December coupons would
again have to be paid half in scrip. The dividend on Nash-
ville Chattanooga & St. Louis stock was postponed.
— 2he Money Market. — Unring October the money market
became very stringent. When the stringency reached an.
acute stage a syndicate of Clearing House Banks intervened
in the way mentioned above. Up to the last week 12 per
cent was the highest rate for call loans at the Stock Ex-
change, witli transactions occasionally as low as 2(83 per
cent. Several times when the rate got above C per cent
Messrs. J. P. Morgan & Co. offered round amounts at that
fl^re. In the last week 100 per cent (6 per cent plus a com-
mission of li of 1 per cent) was paid on the 29tn and 127
per cent (6 per cent plus 1 per cent commission for three
days, or until Monday,) on the 30th, but the action of the
syndicate of banks caused a drop subsequently to 6 per cent.
The ordinary rate at banks and trust companies that week
was 12 per cent. For time loans some transactions were
reported the last week at 12 per cent for 60 to 90 days on
16
THE CHROWICLE.
(Vol. LilV.
,1 r»tM wer«'
!.r ftn* timo
italMMi qttkJUjr citaiixvd. Atxl
ttk>«h lo *<r«r4 «Im ot i»|>«r.
•t tte otaM iMtec 7H<|tO p»r vxtnt
■wrAb-IlM Hrxknl iMoUoa in
, „— MM at Mw clow or Sjplwnljer
._|Ti ■ ia riMiBf w*r« 4 «U94 8»
I± 1I I HMI1 1T ■ - ■ -■ Win. .-.J »h- .l^.>«» of BDV
~ •* Ihv* alw eoiitribute<l
toUmUT wiUkOttt inUr-
MMOM ■* 4«Ki4W>.'
i^ MMl MbiM mt 4 HJ
Ibn 4 7*H«4 7»^ for
Btarjr. Ari«r thai the
.wu-JilrMClk. Th* •app'y <»» oommcr-
■poiBrilr ra4wM4 br immb of th« •oAmty
I OMUI rtMMMa, Mi<i at thf nme
• tf«Ma4 Cor lone ■t«rUns tiv
I to iralwl MmomIvm a^inat a
,NMlt«ltC«lMlta: laAddttiaBtheBMk
nMloa MM tto IM^wkM
K^ If t rMlii. ifcirrt iT 4
pr>»»l»4 4 Wt<#4 n\j far
4PMtflv4 a^^M 4wilDfiM alM
dM WMi *•• wp w » rtly ra
BfMtoy in mao«7 which
lA waa witboat inflnenoe
!• 4 fir etat. Iha
«er«rml the latl*r part o( th* _ _
— aielwiuEv. the farrigB baakan. lUw evary oae elae.
ItaKwftli aatiMW Matiaa la TiawoTUw aaar aoproaoh
sa. Uadarthariaaialaa faraolMl bMin««on
> 4 m )C«4 M far loa*. 4 84V(<H Mir for abort and
p4flM tar oaMa tnattm. Th« imporU of n>ld
i abNt M BlUoa ilollara. Um movetnent bclnx aided
BTMiiam oa gaM. DiaooovU ia th« open market
I a4«aao«4 to tU par oaat, aad th« imte at Berlin at
iaw«a4S|NreMi(UM
Ebak oT Ocnaany haviBg ad-
IUrstoioaMroMt),aBdatrnnkfart4)(peroent;
i* ff^rii Ua laU dM aok M* abova < par oaak. TbaBaakof
ml^bmi batwaM AocmI MIk aad Oetobar «th ioat over
EfSMttMld. Tba prioa of BMUahooMola dropped from
1104 to tnw. bat l ae o w i ad to 10S7-t6. Bilrer ruled lower,
bat did Bot daoliM
KOVEM BBR.— Onrrrat Awa/s — Aa ezpectod, the election
r S worfcad a oooipteta laTolution in affaira. The
far aooad nMoeywaa tcct daoiaive, Mr. McKinlej
J tn alaotorml votca aaiiui 175 for Hryan : hin po[v
piuralltT waa about 600,000. The changv which
OOcafTcd oe Korrmbcr 4 haa seldom if erer been equaled in
tiba ooaatrj^ bdatory. On Norember id the deaire to hoard
$M aanaad to ba more int«nae than before and there was a
Em liaa of r"»"~— at the Sub-Treaaiuy drawing out g^old ;
MaMBHad oa boIUoa broken and foreign exchange deal-
in waa eqiHittT aigeat, aa high aa one per oent premium
•able paid, twrember 4 tha pramium nad vaaiahed and
MMMcaaie a druic : it waa dcpcaitad in larga amounts in
fcnH and t«nderrd at the vmriouo sub-treaaories, though
•t tile Sab-TrcaauTT berv the offers were not aooeptetl until
tlM itib, work at tba ~ — -
aoU raaar
EttJtWM
IW lattOT
lf(
part
in
Um fwaif aaohaaga
tiC a gnU obUcatioB.
oflkie bainx in arreara. The Treasury
from fin.l96.5M October 81 to
barW, maldncittbelargeat since 1891.
of tba Btontb cold waa oaoa more being
amoanta for oustoma datiea. In
ntarket the demand for bills, to
■o great that rates advanced
at a oaat a poaad aterUng on November 8. Novem-
4 tba marlMt waa d«moralla<
fir 4 tba W B flia t waa damoiallaed, and rat«« dropped
iBIea atB . Ia tba ommmt marlcet M per oent was paiii for
jiBisaHal tka Mook bebange on November 3d ; before
na efaaa oa Kowaaabar 4 tha rate waa 4 per cent. The stock
aMrfcat had baaa atraag Noramber Sd in anticipation of the
raaalt of tba alactioa. bat Noramber 4 prices further jumped
— "~ potaia. Ia oar indnatnea, milhi, mines, furnaces,
lorlca all ovar tha country started up: by November
f tally no oMabUihaaBta laad reaumed work or enlarged
foroa, aad tba aamber kept ateadily increasing.
raa rataraad to the banka in Urge amounts.
Iba llapcalli and tba loana of the New York Clearing
I baaka toaobad tba loweat point of the year on No-
n 7 : froai that data to November 88th deposiu in-
I aa BilUloB doUafs. from |4W,4S7.flOO to |4M.«34.a00,
aaaad froaM4SJ7»,700 to $«n,818.900, mnne v hold-
tU4j4it,nO to 1194,070.100, aad surplus reserve
I ft4310,40e to tn.41 1.015. TIm prioa of U. S. Uovern-
I 4e of lOM adtraaaad tnm 110^ to ISO. Municipal
Ma4a, wkMipraiioaBlToaald not badi^|iaae<l of. were noldin
lK|aaaMMla atlar tba alac ti oa. New York Citv selling 16
IHlBM of OH pw onta. Tha large foreign tra<le balau' e
' favorabla iataaooa, tM exoeas of the menhan-
for tbr pnviMB BMMith (October) reaching 83
In tba oooBtnr'a history) nn<rror
m: tha prlooofwbaatalao further
g^ -^i -i- -. -i— Jto *•«< for the Daoember option.
Tha Oilea^po Moek Bwdi aBg a reonene<i November 9, afu-r
ftavtag bMa obMd afaMe Aagaat 4. At the I»rd Mayor*
■i«i— t ia I^oadoa oa Movaaibar Lord Salijibury an-
md that tba Vtwua i ii M ooatrormy with the United
I adgbt ba raaaidad at M aad.
"•Tff f^^f* •^ * " *' " ' « ' *fo/fer..-The stock
whMi hadbaM «nac thnmgh October became
almoRt buoyant November a. the day before ■ ^o
positive were the indications of the suooeaa of thi y
ti, 1 it was announced that one or two lu.u-- -^ " I'ulJ
,, „m night to enable any who wished to operate in
111.. I... 11 ion market on the news of the election. On No-
TOmber i tli.- market coulimud to show great activity and
large triini«action.s(Karope«n buying beingastrikingfeature)
and pricoii advanced i(iM points. For a number of days further
ndvanccs oct-tirrcd. Lat<<r the advancing tendency was
.: sales, while the large looses in earnings
Mj^-wheat roads (which the previous year
n«u n ^11 irop of wheat along their lines) also in-
dnocl ;,.| prices shiirplv lUilinod— in some cases to
tbelov.. -; ,.^,;i.s of the mouth. Suggestions of complica-
tions with Sp;iin on account of Cuba heloed to produce an
unsettled feeling. St. Paul common sold at 80 Nov. 4 and
at 78S, Not. 80; North West, common at 103}^ Nov. 2. 106Ji
Nov. 11, and closed on the 80th at 104^: Rt»ck Island at 67
Nov. 2, at "iV^ on the 10th. closing at 68^^; and Burlington
ft Quincv at 76 on the L'mi, 8;f'4 on the lOtli, clusint,' "t 77;^.
The railroad bond sales on the exchange aggregaleil $4«,62,5,-
850, the largest of an v month of the year. The share sales were
also the largest of any month of 1806, but reached only
S,8M,8W sharea. The effort of the Ryan party to gain con-
trol of the Seaboard Air Line miscarried. The Marietta ft
North Oeorgia, previously sold at foreclosure, was on Nov. 1
reorganized as the Atlanta Knoxvilleft Northern. Without
aotioe to the company the Kansas lines of the new Atchison
wore placed in receivers' hands, the claim being that there
waa a State law which prohibited the holding of real estate
by a cor|K)ration more than 30 per cent of whose stock is
held by aliens, and that the Atchison came within that
prohibi'tion. The Chester & Lenoir narrow gauge %vas sold
at foreclosure ; also the following roads : Dietroit Lansing
ft Northern, Chicago & Northern Pacific, Forest City &
Sioux City, the Roanoke Southern and the Scioto Valley
division of the Norfolk & Western. The Fort Worth & Den-
ver City ]>a.s.sed out of the hands of receivers. The l^ouis-
Tille New Albany & Chicago reorganization plan was modi-
fled. The Terre" Haute & Indianapolis was placed in the
hands of receivers ; also the Middle Tennessee ft Alabama,
which was successor to the Decatur Chesapeake & New Or-
leans. The Ohio coal roads made an agreement for the res-
toration of rates. The Pacific Mail Steamship Company de-
clared a dividend of one per cent. Ihe United States Su-
preme Court rendered a decision sustaining the con-
stitutionality of the Wright Irrigation District Law
of California. The Central Pacific arranged to extend for
one year its first mortgage bonds maturing January 1,
1897.
— TTu" Money Market. — In the money market the stringency
noted in October continued on Monday, November 2d, when
some call loans on the Stock Exchange were made at 96 per
cent per annum. The day after the election there were
renewals at 10 per cent, but the close was at 4 per cent.
Thereafter the tendency was towards pronounced ease, and
in the last week the range for call loans was 1@8 per cent,
and even at banks and trust companies only 3 per c$nt was
demanded. We have referred above to the great increase
after the election in deposits and loans (both items having
reached tke lowe.st point of the year in the statement of
November 7) and also in the money holdings and in surplus.
Under this change the banks again loaned on time and
bought commercial paper with great freedom, and at the
oloee the quotations for time loans were down to 8 per cent
for 80 to 60 days, 3>^@4 per cent for 00 days to 4 months and
4 per cent for .') to 6 months. A feature w^as the lending. of
time money on investment purcliases of sterling exchange.
For commercial paper the rates droi)j>ed to 4(di}-^ per cent
for sixty to ninety day endorsed bills receivable and iH^S
per cent for four months commission house and iirst-claas
four to six months single names. With the return of normal
conditions the deiM)sit line of the Clearing-Uouse banks again
greatly exceeded the loans.
— foreign Exchanae. Siltyer, Etc— In the foreign exchange
market, as elsewhere, the immediate effect produced by the
election was verv striking. On November 2d, the day be-
fore election, the \)uying of sterling bills by those who con-
sidered this a convenient way of securing an obligation re-
payable in gold was very active, and for actual business
there was an advance of a full cent for sixty-day bills and
sight sterling and of about three-quarters of a cent for cable
transfers. The day after the election there was an extreme
break of two to three cents a pound, some sales of long
sterling being reported at 4 80, against 4 82i.^i<»4 83 on the
2<l: of short sterling at 4 88^, against 4 85^04 W. and of
cables at 4 84 '4 , against 4 86(34 86 >^ ; a recovery of about
three-quarters of a cent to a cent occurred before the close
of the day. Tlie market the rest of the month
was variable, with the tendency strongly upwards. As
a result of the election there was at 'first quite ex-
tensive buying of our securities by foreign investors,
but this soon ceased. Commercial bills were in plentiful
supply: the droi), however, in money rates here and the con-
tinued high rates in London caused a steady hardening in
exchange. Investment buying of sterling, by those who
could in this way obtain a better return for their monev on
account of the difference in money rates, was one of the
noteworthy features ; and this further strengthened the
market. An incident early in the month was the sale by
the Bank of England of a block of $4,000,000 of U. S. Oovem
January 2, 1897. J
THE CHRONICLE.
17
ment 4s, which showed the Bank a profit. On November 30
exchange rates on actual business for long sterling were 4 83 !^
®4 83?i, for sight 4 86^^04 87 and for cable transfers 4 871^
@4 875^. The premium on gold disappeared after the elec-
tion as stated above. There were some gold imports, but on
old orders. In Europe the open market rate of discount in
London advanced to 3?g per cent in the third week, and the
rate at Berlin and Frankfort to 4Jg per cent, but subse-
quently there was a decline to 3% and 4!^ per cent respec-
tively. The price of silver tended downward, closing on
November 30 at 29^gd. English consols advanced to 112.
DECEMBER. — Current Erenis. —Congress proved a dis-
turbing influence in December. The Cuban question occu-
pied much attention, and the killing of General Maceo, one
of the insurgent leaders, gave additional prominence to it.
President Cleveland in his mes-sage maintained his previous
conservative position but in the Senate very radical prop-
ositions were offered, one going so far as to direct the Gov-
ernment to take possession of Cuba by military force.
Action finally crystallized around a resolution offered by
Senator Cameron recognizing the independence of the
" Republic of Cuba." Quite unexpectedly the Senate Com-
mittee on Foreign Relations reported this resolution favorably
on Friday, December 18. A big break in prices on the Stock
Exchange occiured immediately and the whole country was
startled by the serious nature of the step proposed, involv-
ing the possibility of war with Spain. The next day Secre-
tary of State Olney, in an interview, announced that the
resolution if passed could only be regarded as an expression
of opinion on the part of the Members of Congress and that
that body could not bind the President in the matter of
recognizing a foreign State, this being an Executive func-
tion alone. It quickly became apparent that public opinion
did not sustain the Senate and when the resolution came j
up in that body on Monday, the Zlst, action on it was de-
ferred until after the holiday recess. Another depressing
circumstance was the failure at Chicago of the National
Bank of Illinois with liabilities of $11,000,000, followed by
the collapse of a number of concerns which had depended
on the bank for assistance. There were also bank failures
at St. Paul. Minneai>olis, West Superior and other points in
the Northwest, and likewise a failure of a large financial
institution in the Southwest, besides bank failures in vari-
ous other sections. There was desultory talk in the Senate
with reference to the Dingley Tariff Bill, which remained
undisposed of from the last session , but it was agreed that
there was no likelihood of securing action thereon. The
plan mapped out by the Republican leaders in Congress, it
was understood, was to have an extra session of Congress im-
mediately after the 4th of March, and in the meantime to
prepare a new tariff bill for submission at that time. On
Monday, the 28th, the Committee on Ways and Means
of the Hou.se began tariff hearings with the view to
framing a new bill. At a conference of commercial
organizations of the Central Western cities on December 1
it was decided to call a formal convention early in
Janoary to consider the future of the currency. There
was a further accumulation of money at this centre,
and the New York Clearing House banks from having
reported on November 7 the smallest total of deposits
and loans of the year, on December 26th reported the high-
est of the year. The Treasury gold reserve kept gaining,
and stood at $136,746,473 December 30tb. Secretary Carlisle
was requested by the Boston banks to resume the issue of
gold certificates, but replied, saying he deemed it inadvis-
able to do so. Foreign exchange rates the middle of the
month advanced, and there were reports of a renewed out-
flow of gold; but subsequently the market weakened again
and no shipments occurred. In the iron and steel trades a
feature was the breaking up of a number of combinations in
different branches for the maintenance of prices; iron pro-
duction further increased and the capacity of the furnaces
in blast December 1 was reported 142,378 tons per week,
against 112,782 tons October 1. It was rumored that the
m°ice of steel rails at the Eastern mills for 1897 would be
$25 00 per ton, against the present price of $28 00. The price
of wheat after an early decline moved upward again, but in
cotton there was a sliarp break, the price of low middling
upland December 31 being 6 18-16 cents, igainst 7 .5-16 cents
November 30. Besides the large sales of municipal bond*,
Suite a number of new railroad loans were also negotiated
uring the month.
— iSiilroatt Events and Stock Exchange Matters. — The jtock
market declined most of the time in December. It was weak
even before the action of the Senate Committee in agreeing
to report favorably the Cameron resolution, but tliat event
caused a further break of several {xtints, the market becom-
ing almost jjanicky. There was subsequently a recovery
from the lowest figures reached in this decline, and the last
few days the market showed a firmer tone, aided
by the decline in foreign exchange. St. Paul common sold
at 7.5?s on the 2d and at 70 on the 18th, Burlington & Quincy
at 79 ^ on the 4th and at68}{ on the 18th and Rook Island at
70^ on the 4th and at 64 on the 18th. In the State District
Court at Oskaloosa, Kansas, Judge Myers rescinded his ac-
tion apppointing receivers for the Atchison; he decided that
the Alien I.jind Law did not apply to railnjads. The Colum-
bus & Hocking Coal & Iron Company was again placed
in the hands of a receiver. The suit of tne Toledo St. Louis
& ITmimb City against the Joint Traffic Association lines
to compel them to interchange traflSc as formerly (relations
with the road having been severed because of its practices re-
rarding rates) was settled outside the courts. Commercial
Cable and Postal Telegraph companies were virtually con-
solidated. Reductions in the- rentals of several of the Read-
ing's smaller leased lines were effected. The Attorney-Gen-
eral of Pennsylvania instituted an inquiry into the charter
I of the new Reading Company. The Southern Railway de-
clared its first dividend on the preferred stock. The
I Columbus Southern was sold at foreclosure and bought
i in the interest of the Georgia & Alabama. The Mobile
|& Ohio authorized the issue of §1,000,000 bonds to
I build an extension to Montgomery. A plan was issued
for the reorganization of the Union Pacific collateral trust
note 6s. but opposed bj' Messrs. J. P. Morgan & Co., the
trustees, and by the Committee under the indenture. The
I U. S. Government sold $2,780,000 of Union Pacific, Central
I Pacific and Kansas Pacific 1st mortgage bonds held in
the sinking funds of the Pacific Railways, the proceeds to
I be used to meet maturing U. S. currency 6s. The Chicago
& Eastern Illinois took possession of the Chicago Paducah
& Memphis. A suit to restrain the Manhattan Elevated
from paying dividends failed. The Court of Appeals
I denied a motion for a re-argument in the matter of its
decision re-opening the New York & Northern foreclosure
suit. The St. Joseph & Grand Island was sold at foreclosure;
I also the Kansas City & South Western branch of the St.
! Louis & Ssm Francisco; also the Seaboard Railway of Ala-
bama. A decision was rendered sustaining the validity "g
the reor^nization of the Indiana Decatur & Western.
— The Money Market. —The money market developed grow-
ing ease during December, and lenders sought borrowers.
i There was a further decided increase in the money holdings
. of the New York Clearing Hou.se banks and a still more
j striking increase in their deposits and loans. We noted in
' November a rise in the deposits from $438,437,600 to $490,-
' 634,300 ; in December they rose to $53.5,837.200 on the 26th.
The loans after h-iving increased from $442,179,700 to" $463,-
818,200 in November, increased in December to $487,673*300.
In both cases the amounts November 7 were the lowest of
the year; those December 20th the highest. The money
holdings from $124,419,800 November 7 and $154,070,200
November 28 advanced to $lft5,76 <,200 December 26. The
surplus reserve stood at $34,309,900 December 28, against
S31.411.63.5 November 28 and $14,810,400 November 7.
In the week ending the 13th rates were about as low as —
in some cases lower than — at any time during the year.
Call loans at the Stock Exchange were then IJ^'iiS per cent,
the minimum at hanks was 1^4 per cent, while time con-
tracts on good mixed collateral were freely offered at 2 per
cent for thirty days. 2^4 ^o*" sixty days, 3 pier cent for ninety
days to four months and 3i^ per cent for five to seven
months; paper was quoted at S\4 per cent for sixty to ninety-
day endorsed bills and 3^@4 per cent for first-class and
4^051^ for good four to six months single names. Loans
upon sterling bills, running from 7.5 to 100 days, were re-
iwrted at 3"^ per cent. The next week the market was a
little firmer for pajier. and the week ending the 26th, on a
demand for money from the West in connection with the
bank failures at Chicaco and other Western points, rates
for time loans also stiffened. The advance, however, was
only about one-half of one per cent. On call at the Stock
Exchange the rate remained 1^@3 per cent and the mini-
mum at banks was 3 per cent. ' here was no quototion for
time loans at thirty days, but for sixty to ninety days the
rate was 3 per cent, for four months 3!^ per cent and for five
to seven months 4 per cent. Paper was quoted at 'S^(d4 per
cent for sixty to ninety-day endorsed bills and 35^(g)4J^ for •
first-class and 4i^<a.5i^ for good single names running from
four to six months.
Foreign Exchange, Silver, Ac. — Foreign exchange showed
considerable irregularity during December. Up to the 8th
the tendency was in the main downward, and rates for actual
business were then 4 83'^04 83!^ for sixty days, 4 86^@
4 86^< for sight and 4 86'^fa4 87 for cables; after that the
market advanced pretty steadily, and on the 18th the rates
for actual business were 4 84(34 84i^ for sixty days, 4 87)^@
4 87?i for sight and 4 88'a4 88'.^ for cables. It was then
expected that gold would be sent to Germany the following
week. The country's foreign trade continued to show a
very large balance in our favor, and the high rates were due
mainly to dearer money abroad and the decline in interest
rates here with the train of influences that this set in
motion; there was also a renewal of the investment demand
for sterling, and there were likewise extensive remittances
by bankers and corporations for interest due in January on
American securities held in Europe. After the 18th ex-
change again weakened, and the expected gold exports did
not occur. On the Slst rates for actual business were 4 83^^
(34 84 for long, 4 86i^@4 m% for short and 4 87(34 87Ji for
cable transfers. The open market discount rate in London
declined to 3 per cent early in December, but later advanced
again to 3% per cent, while the rate at Berlin and Frankfort
rose to 4% per cent. The open market rates December 31
were: at London SJg^per cent, at Paris 3 ; at Berlin 4^4' and
at PVankfort AVi. Silver fluctuated very little during the
month, the price in Liondon December 31 being 39 13-16d.
English consols again declined, but closed at 11lj(. In India
money was stringent, and as a measure of relief the India
Council released two crores of rupees (20,000,000 rupees^
from the Presidency treasuries.
16
THK nHEONlCLE.
fVoi. LJLIV.
OOURSB
PR10B8 OF GOVERN MKST SECURITIES FOR THE
J. ■ .^.. ^^^ f^i„ at ^T M tlw »•• Yort Slock Eiebaafe-l
YEAR 1896.
QUOTATION'S OP STERLING EXCHANGE FOB EVERY DAY OP THE YEAR 1896.
lOompUad from the pocted (Mm of iMdlng buiker*.]
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I4»4)t«4l6)(.
OOUESE OF PRICES OF BAILKOAD AND MISCELLANEOUS STOCKS FOR THE YEAR 1896.
tOomyUad (na nle* et itocki at tbe New York Stock Exchange.]
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UM- UM V»«- U)t
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66 • 67K
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II - 13)4
140 -160
63-88
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6 - 7H
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67-68
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ltOM-167
80-20
12 - 14*4
a- )4
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100 -100
4^4- 47M
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«2 - M j 88 - 84
1374- 18
31IH-«7>4
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toyi- 20H
66-60
67 -66M
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164 -100
«0)t- 71
80 - 80
isH- 78U
IM -U»H
86 -100
146 -146
111X1-18)4
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88K-77 76 -WK
40 - 41
St - M I »3 -100
4 - (H<| 6)4- «
87X- 74), 78H- «0
123 -136 1 126 -140
saM-iosH ios)4-toev(
146 -146 l&O -160
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«»>4- 21
68-68
70)4- 70)4
54 - 56)4
46)4' 60
15-16
15 - 17M
1«1 -184
MM-7»)4
4M- »N
70 - 7JH
LtO -Ul
ioox-ioe»4
163 -168
jANrARY 2, 18t7.)
THE CHKONICLE.
19
189«— Continued.
8TOCK8.
AUQDST. SEPT'BER. OCTOBER.' NOV'BKB. DEC'BEB.
Chic. R.I. <k Paciflc
Chic. !<(. Paul M.dc O...
Prcl
CICT. CIn. Chic. & St. Li.
Pref.
CleT. bor. Sc Wh., pref.
CleTc, Si Pitta., canr....
Cal. Hock. Tal. & Tal..
Pref
Delaware ik Hudson...
Del. Lack. &: Western..
Denver ik Klo (>rande..
Prel
Aes .Ho. dt Ft. Uodse...
Pref.
Dniatb ^. 8. & Atlantic
Fret
Brio
lat pref.
*Zd pref.
Bvan«Tille& T. Hante.
Prel
Flint Sc Pere Mar*
Pref
Qreat Northern, pref... .
Illinois Central
Leased line, 4 p. c
nd. Illinois dk Iowa....
Iowa Central
Pref
Kanawha Sc .>llchivan.
Keok. dk Des .>Iaine<....
Pref
Lake Krie Sc Weotena. . .
Pref
Lake r4hore
Long Island
LaulsTllle dc Nashville.
L.aaisT.New Alb.A:Chle.
Prel
MahoDlnv Coal RR
Manhattan Consol
Mexican Centra
Mex. National, elf*..... .
MIcblffan Central
Mlnaenp. Si »«t. Loalo.
lal pref
ad pref.
Mo. Kanaa* dc Texaa..
Prel
MIssonrI Pncite.
i>Iohlle<fc Ohio
Morrladc Eoaez
Naah. Chat. & SI. L....
New Envland
N, V. Cent, .k Had. RIv
N. Y. Chlc.dcSI.LoaU
lot pref.
■id prel
New Vork dk Barlen
N. Y.l.ack.<k West
N. Y. Lake Krie A West.
Prof
H. Y. N. Haven & HarU.
N. Y. Ontario & WeM...
N. y. Sas«. Sc Weet
Pref
Norfolk dc Sonihera
Norfolk dc Wealera.
Pref
Northern PaclSo
Prof
No.Pae.Rr.Toi. (r. rec.
Pref. vol Ins trnot rec
Orecon Rr. &: Nav. Co.
O.RR.dc N. vol. ir. rec.
Pref. Toiliiir trust rec.
Ores. Sh. L. Sc Utah No.
Pennsirlvnnia RR
Peoria Dec Sc Evaaar
PoorIa Sc Kastern
Phlla.dcReadlaK
Pllto. ClBB. Ch. de St.L
Prof
Pitts. Ft. W. dc C, (Bar.
Plit.ik W.-l>rf.tr.reota
Reus, dk ^aratoca
Kio Uraade Weatera.
Prel
RoBio Wat. dc Ocdeaab.
St. Jao. de dr. Island...
St. LobIb Alton dc T, U.
St. L. dc S. F. T. tr.etfs.
lot prof.
!ld pref
St. Lonis SoBibwoBt'o.
Preferred.
St. Paal de Dniatb
Prof.
St. Paal Minn, dc Mas.
HoBthern (vot. tr. ctfo.
Pref. " "
SoBihern I'nciie Co....
Texas dc Paciae
* Trust rooeipts: Ut Instalmont paid.
t M tnttalmeot palil.
t Sd Instalmspt patO,
I Tn»t roceipti; all uMumentf paid.
THK CHUUNICLK.
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January 2, 18S*7.]
THE CHRONICLE
21
COURSE OF PRICES OF STATE SECURITIES DURING THE YEAR 1896.
[Compiled from actual sales made at the New York Stock ExohanKe.]
SBCniUTlBS.
Alabama— CI. A. 4 to S, 1906.
Clau H.Sa, 1906
Clau C. 4». X906
CumncT fondlDK. 4», IWO
arkansu— "Holford" (and.
6b, 189»-1900
Louisiana— New consol., ♦•.
North Car"llna—
Consol., is, 1910
as, 1919
Bpedal tax class 1
^o Do W.N.C.BB.
Bo. Carolina— Non-f and.. 6s
Teonessae —
Nsw settlement, 3s, 1913
Small
rirKlnia— Fnod. debt, .ts*
fls, def* d tr. rec stamped .
Low.HlKh
10^-109
96
102
- 98
-lOSH
tan- n
FIBR'RT.
Low.HiKh
10M-106M
mH-vnH
go ' goM
103)^103M
S6«- 88i<
81 - 81
60«- C2
(Hi- en
.High
97M -9»<
Apbil.
Low.Uigh
106 -10«M
100 -100
lOOW-lOOM
97 - 96%
105 -105
VU -124
1«- IM
85«- 87Ml 85«- aSH
6i«j'aea<^62i4
6M
61
"^i"^'
MAY.
Low.Hltrh
lOB -10«5«
3K- 3M
98-96
106 -106
"in- 'i«
84 - 8
eiH- 61H
7-7
J UN I.
Low. High
»7}«- 98
101 -106M
1«^ iji
81 - 84M
W - 60M
JULT.
Low.Htgh
1-1
76>*-82H
57-68
4-4
ADQITST. SBPT'BXH.
OCTOBBIt. NOV'BER.
Low. High Low. IliKb
100 -100
74 - 78X
66«
4
94-06
94-94
»<W- »Oii
68
6
Low. High Low. High
... - .... 101H-101«
asH- iaii'.'.'.'. - '.'.'.
78-78
'V-'%''^^n
Dec'bsk.
Low.Hlgb
80 - 81^
eon- 62H
B«- 7
RANGE OF RAILROAD AND MISCELLANEOUS BONDS AT N. Y. STOCK EXCHANGE IN
[Compiled from sales of bonds at tbe New York Stock Exchange.]
18»«.
BOND!«.
JASUABY
Low. High
06
70
72X- 78
42X- 47
esm- 76
19K- 24H
Sl«- 2U<
69-74
20-23
2
2
«6 - 9«
104 -107
»4 - ae
lUM-lU
FSBB'RY. March, i April. May.
-I-
Low.Higb;Low,Higb Low.Uigh Low.Higb Low. nigh Low. High Low.Blgb
68M- 72
TIH- 81H
*ea- 6l«j
75X- 80K'
23»<-28J<
74 -77M
23-27
82M- sm
41M- 41M
2 - S
112 -112
93 - tTii
- 91
-107
91
103
11 - II
U4M-115
ei^-102
97«-100«
95
■ 06
I*5«
97H-10m
70 - TZii
96 - 99M
Ala. .MId.-tal, 1 928.. 6
Ann Arbar— lst.'93,g.4
Alcta. Top. & !*. Fe.-
General. gold, 19ff3.4
Adjastm'l, K . 1993. 4
(Seneral. 4. irast rec.
Regf sirred
'.m-4,lr. ree.lst in.pd.
4( (r. racial Inat. pd.
C. iHld., 1 at, g. e.l.rec.
Can..g.,'40,4ii.r«c
All. At. (B'klTn)-Im.5
Ailanilc A: Pac.— lat...4
Income 6
Balllmore Jk Ohla—
Isl, P. B 6
Oold. 19-43. coBP 3
Keslstered
Censol., gold, 1988..3
B.&U.!4\V.-lsi,l
B.JkO.!^ W.R)-.'93.4H
lat Income. B 3
Cea.U. Keorg.ooa.4M
Ball. Belt-lsi, gn. 3
Beech Cr'k.-.SrtN.V.C.
B'wnr &:7lh At. -'43.3
Hrookirn C'lly— Coaa..3
Brooklyn EleTBted
lal, 19-M «
admorl., 1913 ....3>3
Union KI.-lBI,1937.«
!>>.!«.& B.R., lsi,'4'i.3j
Brooklyn Rap. Trans. 3'
Brana.de W.-lsi,'3H.4
Uoa.Rocb.&: P.-«ien.3
R. dt P., lal, 19-.I1...6|1«3
Consol., 1*1 6
Bnf.etHns. lal, 1913.3
Barl. C. Ilap. A: No.—
lat 8103 -lOSWioe -107
Canaol.lat&eol.lr.3 99 -100 loi -102^
C. K. I. F. ^k K., lat..li iio«<-ioeM
lai. 19ai SI
n.&Ht. 1,.. lal. ■■..7
Can Montb'n-lal. gv.S
*Zd mortgage 3
Registered
Cent.OhIo— S« B.StO,
Cent. RR.dc B., Ga.. 3
Cen. Ry. of Ua.— 4)ono.3
Com. ol Sew Jeraey-
Canaal.. 1899 7
Coot, deben.. I90*J..7
Uen. mori., 1987. ...3
Registered 3
Leh.tk; W.H.-Aanent 9
Mortgnge. 191-.t....3
An. Dock Ac Imp 3
N. J.Hoath'n, 1899.6
Ceniral Pactfle—
Gold, 1H9« S
Gold, 1H97 «
Gold, 189N
Man Jonqnin Br*eh...0
Oaar, gold, 1939. ...8
L.and grants 3
Ext., g., aer. A., '98.3
Weotern Paclfle 9.... - ... 103 -108
Wa. offal., na year..3 02'^- P3^<;i aim- MH
«B«-70X
W
- 92 ....
- 71X1 70
77«- 81M 78X- 80M 78
44 - 4^ Uii- *«!*, 40
75K- 79»4 78 - 79X .,.,
79-79 ,.., - ,...!....
tSit- 27Sil 24H-27M....
-nii
-80M
- **H
93-96
100)^-10(041
118 -114H:11S
IISH-IISH..:
124 -124
ll»M-ll»M
100 -100
108 -108
104 -105
112K-11&M
113 -114M
104K-105
140 -140
107»iHOO«
104K-107
100 -100
lOOM-110
11^4-U6
114 -117
104M-10a
IIIM-IM
100 -100!4
lOOK-lOOM
98M-100X
113
104
101
lOS
IOC
40-40
2 - 2M
80M- 87
7»«-77
24M- 2«K
2^- 2SM
60 - 80 .... - ,..
l«- 2 .... - ...
107 -107 1 108 -100
81 - 90>»i 90}^- 96
,. . - ....! 87
»»<- 97 ilOO
.... - .... 102
81 - 81
M -•2K
■116M
80 -BOM
121 -121
118 -118
108 -107
.-...< 97
. - ....123
118 -118)«119
108 -100
JOSK-IOH*
100 -iioM
94 - sen
- .... 50
70
- 87
-10^
-102
- 79
M- 1
107 -108
»t)4-e3M
116
U3
-116
- w
- 66
0^4- 97W; an- »IH
-«7H
-121
-U»
107 -lOSM lOTK-lOeW
101 -102K lOIiHi 10^
lf>5«-lfl654
101 -101
loe -102
i<mi-no
10««-104K
ia8!4-103>i
06-9
109 -110
loiM-ioeK
vmt-ioe
110 -llOM 1 118)^120
116M-118M U6K-119M
-113«
-101
-102
-102H
-108K
U6 -U6M
103 -106
02«-92«
113 -114H
103 -103
111 -116N
101 -105
00-90
USM-111«
lOlW-lOS
108 -103
102M-10S
lOlM-ioiM
108 -10^
July.
SSrr'BgR. OCTOBBR.
76«-80H
8«<-l!M
88 - 70M
71«- 70
30^- 39M
81 - tan
«- H
106 -106
9S - 98
108M-10S
UlN-116
118 -118M
80K-86
60-68
80-81
S» -90
123H-124
U6J4-116X
108 -106H
101H-102H
ioe«-uoH
lotx-ioe
ten
66-71
19)4- 20
103 -103
88)4- 88M
116 -117
110)4-110)1
I - son
Low. High Low.HIgh
as - 66)1
63M-7m
28)4- 3SM
uox-iiox
66 - 69M
30)1- 87M
78
19)1
H- 1
Not'ber. Dso'bib.
Low . High Low.HIgh
67 - 60J1
72)1-
33M-
7W
40
60 - 69
IBa- 80)1
70 - 71)^ 73 - T4«
75«- eon
40)1- 44J<
88 - 73X
20 - 22)1
49
IM
103)1-108
87 - 80
99)4- »»«
118 -116
110M-110)1
71 - 76
-86
111 -116
76-80
77 - 78)1
- 97
-120
-114
76 - 76
73
71
96
119
112 -118
104 -106)1
102)1-102)1
102 -102)1
100 -102
100)1-106
10211-102)1
-108«
-106
108 -108)1
116M-117
119 -110)1
lie -116)1
104^-106
00-90
llSW-UDl
102 -108
102 -102
103)1-101
108)1-108!1
ue -lie
11891-120
ii«i-ii«?i
102)1-103)1
114)1-114)1
108 -103)4
103)1-103)1
,.,.102)1-103
-103
- 93«
96 '98
103)1-103)1
m<4- 94)1
114)4-117)1
113>1-114)1
102 -103
lllM-112
lOSMlOSH
100 -101
103)1-103)1
93K- Miii
100
101
82
-106
-101
103)4-103)1
70 - 78
- 76
- 74
- 06
-118
117 -118)1
104)1-106
100 -100
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110 -114)1
110 -112M
101)4-102)1
108 -110
100
104
-100
-104
-100
•101)1
- «3H'
98-96
98-98
91)1- 92)1
112 -116
111 -113«
102X-102X
109 -110
09)1-100
90)1-100
76 - 76
71 - 74)1
72)4- 74
83)1- 92
11«W-U8)1
77J1- 79«
40)1- 13)4
89)1- 69H
17 - 20)4
89
IM
90-90
97)1- 07)1
lie)«-117M
U4M-1UM
76-88
15 - a
71)4-80
74)4-78)1
96-07
119 -180)1
106)1-107
102K-103
106 -107JK
101 -102)1
104)1-106)1
112 -116
110)1-112
102 -103
110 -111)1
84)1-84)1
100 -100
aV4- 94
99 -100)1
-80
- SO
- 78K
78H
06)4- 07
116)1
116
107)1-110
103 -104M
104)1-106)1
102)1-102)1
108 -102
l08)l-110Ji
106«-106»1
116 -uen
llMi-116
102)1 104J1
112 -116
103)4-104
100)1-102N
09 -103
.101 -101
98
100
02
-08
-100
- 93
90-00
06 - 96
90 - 91
118 -118M
114)1-116
103M-104)1
lie -116)1
102)4-103
103 -lOSTl
102 -102)4
10ZM-108M
THE CHRONICLE.
(Vou LXIV.
I H9^ t'onllBued.
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104 -IOOM104M 106
io««-io^|iosM-ioeM .
104M-108 ;iO4M-10e 1O7M-IO0
t3SM-140
11«4-118M'116M-U6
UOM-llSM 1KM-U4
110 -110 UIK-Ui
113 -113
100 -108
UO -110
107M-106
-I— - — »OT
106 -106 jl03 -106M103
117 -UO
144 -144
144 -U6
08 -104
lOT -107
146 -188
107 -too
118 -123
87M-100M
67M- 81
104M-104
118 -144M
IMM-tMM
IM -tS8
114 -116
106 -tOS
104M-10iM
US -128
107 -UO
U4 -134
M -lOOM
89M- 01
14SNU6M
IM -IM
146 -127
U4M-U4
86
100
-107
-106
■80M
-too
106 -106
107M-107M
108M-1U
107M-107
106M-10e
101 -Win
t07M-t07M
106
107
118
-106 ....
■107 ....
-128 134
.131
114 -ua
-IMM 127 -14T
-124 .126 -128
128 -128M,130 -131M
128 -128 130 -130
80M-KMM 104M-104M
101M-104M
02 - O0K
too -100
46 - 06
U6M-128
101 -10^
04 - M
127 -127
,124M'127M
,tM -148
;U7M-tS8
.1114
-UT**
jAJiDXBY 2, l»b7
THE CHRONICLE.
23
1§»6— Continued.
BONDS.
JAIfCART FBBE'BT
Low.HlghlLow.Hlgh
Cln.Hmn.dt Day.— g.f.T
3d, cold, 1937 4M
CIn. Oar. di Ir. 1st.. .9 105M-109
CI.S.L.&C. . SeeV.CC,
Cln.Han.ifcC.'&St. L.
'Cleve. & Canton-lst.S 79-00
Trnst receipt! - ...
■CleT. CIn. Vh. Sc St. l..-
Gen'l, 1993. eald....4 ■■■ - ...
SI.L..DIT., 1st. 1990.4 D2N- »3
Registered ' ...
CIn. Wab.&M., lst.4 ... - —
C. I. ^t. I..<)kC., lst.4 95 -98
Cla. Man, &■ CI., lst.9 100 -10«
Peo. & E., 1st. cans..4! 79^- 80
103M-10^
80-80
86-8
90-90
97-99
79 - SO
80-20
MARCH. April.
Low. High
tiow.HlKh
108^108M
Sm- 81«
88 - 87H
9s«- sua
79-80
ISM- 80
C. H. Vai. &Tol.-lst.9 83 - 88H Sa - 90
Gen. said, 1904 80-88 88-89
Del. A; Had. Canal.-
Penn. DIt,, coap 7
Reclsiered 7
A lb. de !4asa.— Isl, ra.7
Isl conp., ffaar 6
RpKiKtered.'. 117 -U7
Bens. <fc Har.— 1st ....7
Registered 7
Del. I.Bck.Jk West'n-7
MorrU Si Essex, 1st. 7 UlM-li2 i*0 -UO
Bonds, IHOO 7
1H71-190I 7 lU -IM
Consol., mar. 7 lafH-MH UIX-UIM
Revlsiered
M.Y. I.. &^ W.-lst ...6U9 -1» 1S1W-183W
Constrnctlon 9
Warres,4d, 1900. ..7
DeoT. & Rio Ur.-lst..7 110H-I12 ILS -IIS
Reweonsol, 1936. ..4 83-90 I «9 - 90H
ImproTement, 1938.9 .... - .... 88 - 89M
Det. Oc Mack. -Mart.. 4
Dot. n. <L- M.-L. gr .8H 19 - «0 19M- 20
Oalathdc I. R.-lst...9 101 -101 101 -102M
Oal.H.><.&Atl.-1937.9 96-96 96-96
B. T. Va. dc Ga.-A< 8o.
Brie-
1st, Ext.. 1N97 7 lOS -lOtM
ad, Ext., 1919 9 lumi4M
Sd, Ext., 19-i3 4W106 -106
4t'>, Ext., 1930 9
9th, Ext., 1938 4 101K-101M|...
lsi,eonsol..iold 7 185 -U8M:i»M-140
l^ong (*ock eons.'39
■ ■«. V.Y.Oc E.-1 st.7
II.V.I..E.& W.3dcons.
O.certs.orriep .stp'd 8«M- 78 1 7* - 76
Vd.ep..>«)l, .tc. etdep. «9«- 7«J« TOM- 78
Deck.dc Imp. ,!■(' 13.0
Jeflerson UR.,lst,g.9
Chic. &'E., Isi, ■..4-9 t06M10eM^IOe -lU
Income, 1983 ' ^S^- 28 | 27M- 27H
107 -108M
Incomes, 1990 4i 20-23
. Tnd. Bl & W.lstpf..7 .... -
CleT. Col. CIn. Sc Ind.-
1st, sinking land 7 106 -107W ...
Consol., 1914 7:119 -120 12^-127)i
General consol #
C. A yi.-C. C. C. aci..7
-CI. L.or.db Wheel. -1st:.... - .... 10«<-107
■Cl.dc »Iah. Val.-'38..9L... - .... 117H-117W
Col.Mld.-£e< A.T.&X.E
Col.dc 9th ATe.-lst..9^UlK-lI« IIIN-IMMIU -lU
I09j<-109m07 -107
134 -134 134X-134M
126M-12eM 125 -127
10(«-10T5<
104M-107
84«-88«
111
84
88
142 -143M U3M-14^
IM
IIS
-14«
-116
i4i>«-um
131K-1SS
tUX-lUM
113
lis
88 -90X
88X- 98M
86-87
18-19
106 -106
97 -97H
J
IS6 -IM
TO - 75
71-71
84 - na
64 -e7H
67-67
Erie— lai e ins. pr.>g..4 — -
Istcon.gen.l.. '963-4' ... - ....
Brle dk P.-Con ,'.«8..7| ... - ....
Eareka Mprtncs-lst..6 ...
B*. A:T. Il.-Gea.,lst.9'.... - ....
Consol «il07M-10««
Ft. Cent, de Pen.-isl..9|.... - ....
rilntdc P.tlar.-Mart.O:.... - ....
1st cons., g., 1939. ..9i »^- 93H
Pt. ilnr HIT.. 1st. ..9
Vt.W.Oc DenT.C.-lst .6
Trust receipts
Ft. W. Sc O. C.-lst.4>0
Ft. W. «.-KlaCS.-l«t..9
OalT. II. d: II.al'H3. 9
GalT. liar, df Utin Aa.-
1st, 1910 •
3d, 1909... 7
M.dtP OlT., 1BI....9I Uh-SS
Oa. t'ar. & N.-lsl,(B.9 .... - ...
Ga. Paclflc-5re«aati'n
Or. Bar Win. dc I4|. P.-i
3d, Income ... - ...
n d:^t.J.-.<I»C.H.dcQ.I
Hsasat'c'('on..l937..9|lS8 -123
Hobs, dk Tpi. Cent.—
Ist.cold. 1937 9 107 -108
Caasol.. gold, 1913. .01104 -104
93 - 93M
110 -UO
93-93
91M- 93
GenernI, gold, 1931.4!
Debeniurr, 1897 4
Illlnals <:rniral—
Gold, 10.51 3M
Isi gold. 1991 4
Gold, 1993 4
Registered
09 - 89W
99«- 99«
lot -104
8« -vm
too -lot
91M-92K
109M-100(t
103 -103
89-70
104M-I04M
108 -109
Low. High
Low. High
119H-119H
107 -109
93H- 95
80-80
86-8
B2H- 9S)4
90-90
91^- 91M
97M- mW 98-98
76H- 78
19 - 22
na- 78
22H-22«
76 - 76
109 -109
108M-108M
T
■113
- 85
- 90
|10a«-108«
1118 -121M
113K-11SH
1 8JK- 87
i 87 - 90
108M-107 107 -107
- ....'120X-120J»
I
USH-IUH 113S<-115«
81M- 88 I 82 - 87
84-88 I 83 - 8iH
lSa<-122H
118X-117
144 -lUH
14Uli-141M
I13M-114^
141 -141H
132 -132
113^-113^
138.-138
116
148
-116
-I4SM
114 -114
88 - 9IH
88M- 90
19
102
96
■ 19«
■IM)*
■ 97^
188 -138
isiwism
184 -136
70 - 70
114
112
-U4
-IIS
uo^-uoK
91-92
104X-I04X
97-97
104)4-104M ■
138 -U9W140
131M-iaiM .
136 -I3«
106m06«
UOX-lim
24-24
94-94
•* -685*
107H-10e«
91-93
am- 93
6« -ten
64 - 67K
92
103
•92X
122H-122X
89 - 70«
86-90
10(^-100m01 -101
106 -106 107 -107
I
106^106 I....
■OS -102 1 106
108}<-111m|i08
-106
-10»M
93M 94^1 93M-96M
84M-67
108^-109
91 -03
«e - 88M
64 - E8M
80M- 81
106 -105
100 -lOlH
91H- 93
IM- IH
108 -109
102M 102H
88-71
104 -104
llO^-llOJi
101 -ia2M
84X-67
lO8!«-I0e«
U4 -U«
87-87
64-66
... - •».
81 -UH
ioimo2H
ooM- 91M
U3 -U8
ioeM'109
too -102
89S<- 70W
Low. High
120 -120
80-81
lOiii-WTii
91 - 92M
92M-93
00-00
03M- 03m| 90 - 92
98«- esx
- 73
188 -138
106«-105«
13W<-180M
1S^-U3M
U6 -116
UOM-lim
90M- 92
I7«- 1«J<
to* -103
98 - 98M
10^-104
ia«)4-106)«
-140
108 -109)4
91 - 03
8^-«««
114 -U4
6m- 68
8SH- 83M
99 -100
90M-91
123 -123
100)^-100^
100 -104
89-70
104
114
-104
-114
138 -139
IIIM-UIH
8SX-90X
86 - SOM
15 - 17)4
100 -102)4
92)4- 98
104H-104M
114 -114)4
106M-106M
132X-132M
SltPT'BKH.I OCTOBIIR
Low. High
100 -lOlW
60 - ma
10 - 10
104 -lOlX
105 -105
lOS -102X
100 -112M
80-84
80 - 86)4
137II-137N
12eM-lS0
131 -136
128 -133
120 -128
H8X-U3>«
83-87
18 - I6W
02M- 94
104 -101
106 -108 1 102 -102
108X-103mIi02X-102)4
102 -108H t01«-104
-I-
Low. High Low. High
100)^106M
89X- 00
105 -105
68-75
17 - 17
106 -106
132 -132
124 -124
103 -105M
110H-112H
81-84
80 - 83T«
136 -137M
126 -126
183 -139
106 -106
106 -106
103)^-104
108 -108
79-79
90ii- 93
88X-S8H
05 - 95
73«- 74«
18-18
107 -107
124 -124
111 -11S«
82 - 84X
83 - 89>4
136 -138
137 -137
NOV'BER.
Low. High
Deo'ber.
Low.Hlgb
80-80
92-93
■ 04
■ 97
75 - 73
17 -10
105H-106)4
124 -128
103 -104M
115K-116X
84 - 89)i
89)4- 91
UO -140
112X-I12X .... - ...
no -no I ... - ...
.... - ....146 -146
139 -140 137M-I40
134 -I39H
128 -129)4
112 -112M
1 -87M
18 - 19
lOOH-lOOM
103 -104M
108 -100
114 -114
88-91
68 - 84H
48H-61
60-60
82-82
99)4
■90M
120 -120
102 -10«M
101 -101
89M-89M
83-85
lO4M-10e)<
85«-80
54)4- 58M< 66M- 60
101 -101
48M- 40
62-62
08-08
00 -90ii
96-96
Utta-XOOH
113 -113
SO - 81)4
4^- 62
60-60
90 - 91
120 -123)4
- .... 106 -106)4
102 -102
87 - 89)4
mt-eiH
110 -110 |.... .
IS9X-139)< 189 -140)4
130 -130
114 -114
85)4- 87
81 - 81
17 - 18)4
too -100
96-06
107)4-108
75 - 76
92 - 93
97 - 97
WH- 76
105)4-106)4
129)4-181)4
116)4-117
86 - 88
84)4-8654
141J(-143>4
144 -148
146 -148
128 -128
139)4-139)4
U2 -112
137 -188
133 -134
U1--112 110 -111J4
86 - 01)4 90 - 90M
i -86
18 -20)4
too -103)4
100 -100
103)4-104)4' 102)4-102)4
112H-U3 1 114 -114
108)4-107 108 -108)4
112 -112)4 ... - ....
138 -1S5)4'137>4 138
131 -131)4' 132 -132)4
107 -110
87-89
68)4- 82
18 -18
100 -100
100 -102)4
102)4-10^
116 -116
109 -IIOM
111)4-114)4
138 -139
132)4 133)4
132 -135
103 -103 101
107)4-111)4 110
102)4-102)4
100 -too
40 - 62M
48 - 48
00)4- 91)4
124 -124
108)4-106)4
99-00
67-88
80)4- 93
60)4- 66
08-98
106 -107
110 -113
80-80
75 - 75
61 - 85)4
92 -
es)*-
-104
■ui)4
96«
65)4
108)4-108)4
113 •
82)4-
100 -100
80)4-01)4
77)4- 77)4
06-87)4
61 -
60)4
116
84
64
66
95 - 05
80)4- 91)4
108 -100
100X100)4
68 - 8e«
THE CHRONICLE.
[Vol. LXIV.
4 • -M
amHmtn »»».. !•■»•■■• •
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1^ -..«• 4 • •• I"" - -■
i^B^A M. iM^^a4<* • ■■■] ■•
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84 - 84
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lot -lOtM
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104 -104
83
80
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83-83
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86 - 88
40 - 40
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lU)*-UtM
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71 - ™M
8 - 8
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106 -108
88N-100M
Ul -Ul
Jantabt 2, 1867.]
THE CHRONICLE
25
1806— Continued.
BUNDS.
JancartI fkbr'kt. Mabch.
Low. High Low. High Low.Blgb
86 - 00 I OiS - M
V7
■112
■ 70
log -102^ 101 -101
U7
lis
-102H
-101«
-102
-101
- 80
-117
-113
Mo. Kansas & Texas
1st, Eold, 19»0 4 80 -S*.H
MA, Income. 1990 4 iSii- aOM
M.K.&T.ofT., lst.3 72M-80
K.C.it P..lst.l990.4 71 - 72H
Dall. dc W., lsl,'40.3 80-80
JHo. Kansas <JL Bast*n—
Isl, 19112 3
nissourl PaclAc—
Istconsol 6 95
3d, 1906 7 108
Trust. Eold, t91?....3 70
1st. collat.. K» 19-.20.3
Pac. of .tie.— 1st. ext..4
'*A, 193M, ext 3
8t.L.<&l.n,.lst.ext.3
ad, is9r »
Arkansas Br.. ext..3
Calra.4rk.d^Tex..7
Gen.consol. Ai I. K..3
Ntnniped, Euar — 3
mobile <fc Utalo-
Mew 6
1st, ext.. 19-^7 6
den. Borl.. 1938 4 82^-06
St. L. il; C'ulro. '31. .4
Blorcan's La. ic Tex —
1st 6
1st, 1918 7 laS -184
HashT. Ckat. 4e St. L.—
1st 7jl27}<-127X
ConsoI.E.. 19-ZS 3100 -lOlM
n.n.n.w.ac \i.\MM
Mew York Central—
K.Y.C. df II., lsl,cp..7 118 -120
Registered 7<119 -119
Oeb., 1NM4-1904...3 10aM-107i4
8* - 37
&8 - 63^
80 .- 81
68K- 72
MM-aa
108M-110
66-66
Reglatered 3
Deb.. 'N9-'U4. rocS
Deb., E..'90.1903.4
Ke^rlsiered
Debt cerCN.. ext., k.4
Registered
iflarleoi- 1st, cou» — f
Reclsiered — 7
N.J.Juuc, tst, ■a..4
West inhere, gaar. ..4
RoElstered- 4
Beech Creek, 1st, v. 4
Rome Water, ti 0(.-
Con. 1st, ext 3
N.V.dc Patnan, ls(.4
N.Y.Chlc.&:Si.L,.-lst 4
Ueglslered 4
N. V. dc .New Bagtand
1st, 1905 7
1st, 19U3 6
If.Y. N. U. dcUartfd-
Con.db. ct., all Ins.pd
N. Y.dc No.- 1st, gald.3
N. Y.Onl. Sc W-lst. g.3
Ret., 1st, 199^ 4
H. v. Sosq. dc Wesfn—
Ret an ding 3
■Jdmort., 1937. ...4H
Ken., gold, 1940 3
Term,, 1st, 1943, g..S
Wllk.dc8.,lst,1944.3
Mldl'dol N. J., lst...«
Mori. dcSo.-lsi, '41..3
Norfolk d: VYeotern-
General
New RiTer, Isl •
Adjustment. 19!I4...7
Adj. .'in Trust reo
Equlpmfinl. 1908 ...3
IftO rr. mart.. 1990.3
Trust receipts
Nes. aboTo 10,000
Cllneh Val., 1st, '37.3
Md.dcW., Isi, 1941.3
Trust receipts..
Se, Val.dcN. K., lat.4
Nortkera PaelHo—
Gen. I si, land grant.
Kegislered O
J. P. .M. & Co. certs
Registered
Oeun I. gr., ad, 1933
Registered
Trust receipts...
Uen., 3d, land graat-O
Trast receipts
Consul., 1989 3
Trust receipts
Registered
Rec. cifs.col. tr. notes
Col. tr. notes, 1898..0
J. P.M. dc Co. certs.
Jas.RlT.VaL.lst.t.rc.
Ul*. scrip, extended...
Mp. dc P..S. I., tr.reo.O
Ht. Panldc No. Pac.O
Reglsl'd certlHrales
10&M-105H
lOOX-lOlW
lOlM 101 M
U« -lit
101 -106)i
101 -106
101 -101
116M-118M
100 -lOOM
101 -102M
100 -102
■mi- 8o>,
118 -118
«1 -8flM
SIX- 81X
78-80
70 - 71
!Apbil.
Low.Hlgb
90
108
- 94«
■io»k
100>iS-100%
102M-103
« -esji
UlM-lllH
78«- 81H
11^-119
65H-66X
84H-
68 -
79«-
8SH-
86X
61
79«
74
91-92%
93
108
- 95
-109
66-65
101X-10«<
106 -loe
iooM-101
10^-103H
101 -101
77 - 80«
79-79
118M-U9
U3 -113
85>l-6ajfi
85-85
lU -lis
Low.HlRh
85S4-86K
58>^- 60
78«- 79Hi
68«-68«
rex- 78«
90H- 92
JUNX.
JtTLT.
Low. High Low. High
89
106
-91H
-106
102
106
100
107
101
79
80
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-105
-lOOH
-107
-V&H
- 79M
- 80
112 -112
a6«-66J«
127 -127
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187 -128
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108 -108
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70 - 71
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78
107
60
10
102
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lOOX-lOOXlOO lOOM
74 -79K
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100 -101
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101
103M-106
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UT -137
108 -110
89W-93M
«9 -100 I W - MM
76S1- 79 70X- 7»
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67 -
81X
56«
73
OCTOBEB NOV'BER
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79«- 8l}«
60X- 60X
70 - 75X
79X-
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80«
99X-100
98 - 90X
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60-75
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102
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119M-119W
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91
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86
ua
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U7K-U7X
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182 -136
119 -119
UBM-IOOM
88H- 80
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86
65
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101
86
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105
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78
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61 - 70
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76-81
180 -123
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87 - 70
70 - 70)i(
103 -103
88 - 88
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101 -106
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losM-ioix
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188 -13SX
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87X. 88
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67X- 69
68X- 70
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86-86
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100 -lOlX
126
86
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101 -101
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102 -lOJM
86X-88X
83
101
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100
100
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72X- 72X
70 - 70
90 - 92X
85
103
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100 -100
102X-101X
loiX-ioix
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67-88
121X-126
96-96
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102 -102 103X101X
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100 -lOlM
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116
118
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90 -82N
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18-67
61-61
61-81
66-67
81-83
U6 -118X
115X-116X
116X-117X
62X- 56X
96X- 98
39 - 39
121X121X
Xtt
THE CHRONICLE.
[Vol. lxiv.
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lU -IUM
lit -tu
lU -1I6M
110 -llOM
•«7M
IM -101
108 -108
M -41||
40 -40
101 -101
101 -IM
78 -87
17 - U
TIM- TIM
74-76
Nor'Bcm. Dic^aam.
lAV.HKh Low. Hick
7aM-T«M
81 - 81
lfl8M-106 IW -lOTM
MM- 88 MM- 4aM
1« -IM
IM -104
M -M
« -8BM
U - U
17 - 17
87M-*7M
78-74
10 ■ UM U - 16M
10 - UM' UM- UM
lOOM-lW 108 -110
68
lOTM-loeM tOOM-lOOM
lOOM-lOON
167 -107
106 -104
101 -Ul
M
H -8n<
Si>M-aiM
107 .IMM
48 -uii
4a -aaM
40 -4iM
IW -IM
IM -IM
IM -IM
n -•7M
tOM-UM
10-80
78N-M
17 - aOM
17 - ao
H - BSM
lllM-lUM
B« -100
07 - 07M
no -Ul
lOOM-lIO
100 -108M
107 -107
lOlM-lOlM lOlM-lOlM 1« -loaM
103 -loa 100 -100
TIM- 77
t8»M-*37
♦UM-»«»M
♦ »M-*U
t»i- »
7JN-77M
«3tM-l46
»83K-I34
aiM-<3s
MM- 4J«
MM- 70
87 -TO
-40M
IM -IM
tUM-ua
loOM-iu
im -loe
146 -4»lt:iiSM-48K
t^' - SO I131M- a7M
138 - SOM I41M- 86N
|.... - ....
IM- IMi.—
< »M- •«
85 -87M
70-70
88M-78M
W -41M
IM -IM
IM -108M
lUM-UlM
lUM-USM
lU -113K
lOOM-looM
101 -101
4« -U
MM- MM
IM -IM
IW -IW
Ul -lU
M -M
H -M
101 -101
M - 06M
17 -13M
17 - U
46-44
64-00
U - 88M
17M-«l
ITM- UN
7«N-aOK
lUM-lUN
Ul -UIM
lOSM-lM
1U8M-10«K
IM -107
80-80
77 - SIM
7»« 7»M
lu -lu
103M108M
lu -ua
101 -lOiM
101 -101
MM-86M
76 -74
70M-88
80M-ai
TIM- 74M
M
74M
44 -61N
IM -IW
MM-»4M
87-87
««M-as
76-77
47M 10
8 - e
a - a
10^4-104
101 -IM
• All
paid
M - mm; mm- 86K
lit -118
noM-it« UOM-IU
uoM-iiiM ..• - •—
ino -100 'IMM-IU
Januabt 3, 1817.1
THE CHRONICLE.
27
1§96— Continued.
BONDS.
»8 - 98
70 - 7SX
St. I.. &■ 9. Fr.— (Con.)—
General, 1931 S 80-80
1st, trust, 19Sr 9
CoQsol. SB,, 19S0....4
Trust recelpifl
Ft.S.&Tan.B.B.lRt.tf
St. Louis !<oatliw'n—
lat, 1SN9 4
ad Inc., 19«t» 4
Bt.PBul Citjr Cable-
Cansol., 1937 3
Guaranteed, 1937.. .3
8t.P.A:DuI.-'id,19ir.5 lOS -10M<
tit. P. Minn. <fc.Man.-
lat, 1909 7
3d mort.. 1909 6
Dakota Extennlon 6
lit, conaol., 1933. ...6
Redqced to 4H
Mont.Ext..lat.l937.4
Minn. Cn., 1st. '43... 6
Mont. Cen.,lsl, 1937.6
Isl. cuar., 1937. ...3
E..MIiin.,lstDiT.lst.3
Wlllmar )k.>«. P., 1st 3
San An. Sc Ar, Pass—
Ist, 1943, sold, cn...4 eiM- G«M
B. Fr. Jk N. Pac.-lst..3
Seab. dc Koa.-19'Z«..3
8«. Car. <& Ga.-lst....3
So.Pac. Arizona— 1st. 6
Saatb'n Paclflc Cal-
ls! 6
Isl, consol., 1937 S
An. ileN.W., lst.'41.3
So. Pac, N. Mex.— Ist.«jl01^104
Soutbem—
1st, conitol., 1994. ...3
E.Tenn.reorg.llen.4-3
Alabama Cent., lst..6
Col. lie Gr., 1st 3-6
E.Tenn.V.<S:Ga.,lst.7 107 -KSN
DlTlstonal 3 IU)4-um
Consol., 1st, K- 3 105 -107
Ga. Pao., 1st, K....3-AillO -lU
jAStTART
Low.Hlgb
U6«-116X
119J<-11«J<
117 -120
lOlH-103
SOM- 88
101 -103
M - M
MM- MM
io»i-ia8H
UK- ASM
88-80
87«- om
01 - 01»t
00-00
07 - 00
»8 - se
.18 -113
100 -101
SS - MM
Knos.^kO., 1st, K...V:1U -Ui
Bleb. dk Dan., con. , K.6 llA -118
B«nlp. a. f., K., 1U09 3
Debenture. at'p'd....3
Va. Mld.,B , 1936. ..3
1936, t„ stamped.. 3
W. N. Cor., 1st. con.H
Tem'l Ass' II of (it, 1,.-
Ist, cons., K , 191 1. .3
Texas & N.Orleans—
Isl, 1903 7
1st. consol., 1943, s.S
Sabine Dir., 1st 6
Texas dk Pacillc—
1903
IM, gold, -.JOOO 9
9d, c. Inc., 4000 9
Third ArrnaeCN.Y.)-
1st, 1937 3
Toledo dk Ohio Cent'I-
lat 3
West. OlT., 1st. '33.3
Ii.an.iSc.>I ,lst.gu.,K.4
T.P.JkW.-l«t, 1917. .4
Tol.St.l,.JkK.C.-lot.6
Trust receipts^
CIs. & l)el.-lst, eoa..3
Union Pnclflc—
1st, 1896 t
Tr. ree. ex. mac. epo
1st, 1897 6
Tr. ree. ex. mat. cps,
let, 1M98 6
Tr. rer. rx. mat. cps
1st, 1S99 6
Tr. ree. ex. mat. cps.
Collat. Trust, 190».0
Collat. Trust. 1907.3
Cell.Tr. 'Him, Tr.rec,
Gold Botes, 1SU4
Ext. sink. Id., 1S99..M
Kan. Pac, 1st, 1S93.6
1st, 1»496 «
Tr. ree. ex-mat. cp.
Deairer DlT,,as>t..O
Tr. ree., ex-mat. ep
let. consol., 1919. .6
Trust receipts
At. Col. Si Pac.-lst..e
At. J. Co. dc W., Ist.e
V.P.L.ak C, 1st, ga,.3 U - U
U.P.U.dcU., 1st coa.9 SIM- MH
Or.Hh. I..4:l .!«.,ga.S M -MM
Trust receipts 61-00
Collat. trust, gold.. 3
Or. Sh. Mno. 1st 6 lOlH-lOAM
Trust receipt*. 100 -lOtM
tJtahdkNo., 1st. T ..
81 -SSM
18 -««<
U6K-U0
tOSM-106
70-80
73 - Tfii
71-71
71 - 7*
100 -100
lOlM-106
05-06
101 -104H
esM-flSM
X101-106M
S)»i- SSM
102 -106M
»iH-l>6H
03-06
03M- 08
00 - M
102 -106M
103 -lOtt
107 -107
Oi - »4
70 - 70
70 - 74
LOW.Hlgb
05 - 06H
78-90
OS - 98
72-76
20M- 32
US
120
120
102
87
-U»<
-120
-121
-106
-80
64-60
OS -»«M
04-07
100 -111
OOM- DIM
8S - 88H
104 -106
0l}<-«3««
01 - 03M
108X-100K
lOS -100
113 -Ut
117 -U8
0O!«'10O
100 -101
0^-102
100 -103
112M-11S
108 -100
OBM-OOM
Low. High
e5H-96M
88-00
36-38
28 - 31M
00-00
103M-103M
U9 -
121 -
105M
8S -
114
101
107
121«
121«
106«
- 88
-116
-102
-107
66W-68
100 -100
•4-96
e4M-96M
110M-110)4
90)i- 01
80 -SOW
105 -loa
8eN-02M
00 - 91M
10« -100
Low. High
03 - mi
8SX- 90
33 - 3«
99-99
73 - 75
27K-20W
100«-100X
705<- 72
10««-
116 ■
182 -
106X-
U5 -
101«-
106J*
124
106>»
ue
102
U7«-U7«
123X-
105 -
86 -
116 -
102X-
106)«.
6« -68«
io7H-ioe
llXM-113
U4 -ll&M
117H-11W4
100 -100
lOl^-lQlW
102 -103
lOa -103
US -113
10* -103
08-86
95-07
04-97
107 -107
00X-92W
86 - 87M
106M-106J*
00)4- 94
00«- OIK
10«<-108!4
U3 -USH
lUH-uiM
lOTW-lOOM
U3 -113^
113^-111
U9M-120
98 - 08M
OOM-lOO
103 -106
112M-114
103 -103K
wM-a«M
86-80
110 -uo
107 -loe
100 -109
80-83
Tin- 7»K
74-78
74 - 77
101 -lOlX
lOSM-103
102M-108)[«
07X-97H
103 -103H
06X-07H
lOS -104
90-99
60 -64X
96 -96H
04 - 97H
106 -106
104 -106
87«- 00
2S - 24M
llOM-120
106 -107M
81-82
70 - 7tlM
06M-96M
107 -107H
88«-0l
22M- 24M
74
101
- 76
-108H
lOtM-104
06M-9W4
103M-10IH
9« - gen
104 -105
06)i-96M
96)i-»6M
10« -109
97-97
73 - 77H
30 -SOM
Geld, 19*6 5!.... -
34-34
36^ 40
60«- 70
106 -113
106 -lUM
64K-64H
94M- 96
92 - 94M
lOfH10«H
96 - 06
71 - 76
3SM-83X
82-32
»6«-38Jii
86-66
66X-68J<
lia -113M
Ul -U2M
U4 -114
MAT.
Low. High
9S,H- 99
90 - 90«t
23 - 35
124
106H
■ 87
118
102W
106K
5ew- 58
03 - 94M
95«- 96«
llOH-Ul
00^- aiH
88 - 87X
105 -106M
02«-
91 -
112(4-
110 -
112 -
114 ■
lU -
UO -
04M
113
nan
113
107M
114
118
120J4
100 -
100 -
113H
103
102M
114
103M 103M
96M-96K
107 -107
80«- OOJi
21^- 23
.... 120 -120
107 -108
10tM-104M
80X-82
80-80
lOTK-loe
105 -loeM
81-82
79-70
T3K- 74), 74«- T4M
103 -103 >03 -103M
109^106 !l03M-106
96t«- »7H{ 09 - 99
i03M-ioeM:io3>i-i07
97-97 00-09
104 -106 1 104 -107
96M- 90 1 09 - 90M
105 -107H104 -108
97-98 90M-100
50X-6S)4!
94 - 05Ml
03-94
107X-U0 '
109 -109M
lOSM-lU
07-99
72 - 76«
36-37
«!%- 37H
36«- S6H
37H- 40J4
87 - 67
86-60
27«- 27H
ll:^i-115
112 -115
08-08
48-60
91%- 98
90-04
UO -HON
no -lU
Low. High
99 -90M
24-25
67M- 70
23«-3eM
• 71M
i 24X- 27)i
118 -nsa
123^-124)4
105 -106
UH- 89
108 -
118 -
117 -
121 -
10H<-
88 -
125 -
112 -
102 -102M
106X-10«<
66X-58
e4M-94M
95 - 96M
UOW-Ul
eiM-9^
86 -86M
106 -106
02 -04W
91-92
111 -UIM
USM-112M
108«-107H
115M-U5M
120 -UIM
om^ioi
101 -101
112 -lUM
104M-10«i
•6M-S«t
Low. High
94H- 04Vi
103
110«
117
121
104M
88H
125
112
100
49-55
94 - 94X
llOH-113
eoH- 91M
St - 85
108 -10^
80M-8CX
-108
-now
-107
96 -100
96-95
104)«-100»4
104 -106
WX-04M
83N-88
1W«-2<M
12Wi-lSM
10OM-10K4
108 -108V(
80 - 81H
78-79
70-70
70 - 78J*
100 -lOOM
vmt-vnH
:96M-9B
104 -104M
99M- MM
10«<-106H
90M-99H
loex-ioeM
09M-99)4
Low. High
Sept'ber.
Low. High
90-93
87X-87M
68-70 66 - 70«
23M- 25H 24X- 27«
90-00
114 -
U3«-
US -
100 -
87 -
118
U3«
118«
100
87M
93 - 93;4
107M-107X
87X-80H
83 - UH
102 -lOBH
76 -83M
107 -UO
100«-102)4
106 -105
UO»t-ll«<
04-95
OS - OSM
77«- 8iM
16-19
U9!^12
VHH-VXIH
107K-107X
89 - 74M
65 - esM
100 -104
I03M-10^
06-95
104J<-104K
101 -106
97-98
90-81
11SW-112W
111 -HI
09-99 06M- OOM
8SM-68M
72X- 78H
32)4- 35
35
' 35
' 40
65-67
U254-118X
1U)4-11SM
U5 -115
100 -100
70)4- 70i<
70 - 72»t
3SM-82M
3SM- 37
64)i- erx
1U)^114
mH-ii2«
73 - 78
18»<- 16K
U4 -U6
106 -106
97 - 97X
8S - 88
lU -111)4
Ul -lUM
60-80
60 - 88%
25-3
26 - S3M
51%- 65
UO -112)4
104H-110)4
118 -lis
113%-113%
117 -119J<
88 - 90M
ia0%-130W
Ul -113
lOOK-lOOM
102)»-105
48)i- 64
Low. High
02-92
25-25
104 -104
NOV'BER.
Low. High
95 - 97%
90-90
U4M-116
115 -117
102 -103
86-88
114 -114
102%-103)«
100%-100%
89-89
03 - 93% 92 - 92M
108 -108
86 - 87M
82%- 83%
108 -103%
82 -86%
■86«
e6«- 70
26%- 29%
ukcbbr.
Low.Hlgh
96%- 97i|
90-90
87%--
... 102 -103
109 -UOIl
US -116%117%-U8
112%-116 |ll6 -116«
123 -122 124 -124 J
103%-103M101 -105
87 - 88 86 - 87%
114 -114 115 -U5%
100%-100%103 -103
100%-104«j... - ....
. - ... 108«-10««
64 - 5S% 66 - 57%
93%- 94
86
81
102%-103«
81%- 86
100 109
... - ....liio -us
106% 107% 10O)i-UO
.... - ....110 -111
106 -107% 10e%-107«
88-87%
81%- 82«
102M-105
85%- 92%
90 - 91%
93%- 93%
95 - 96%
i06)i-ioe%
86«- 86«
82J<-84%
10*%-105%
89 - 92%
88%- 90%
10614 107)4
108 -111%
103%-105
103 -104% UO -UO 110 -110
110%-U1%114%-115 |ll4%-115
U4 -117 U6%-U7 117 -119
8714- 98%
93 - 06
103 -103
88 - 88%
90 -100
98 - 08%
105% -108%
102 -108
03-05
77%- 81%
16%-19M
ll7X-U9>t
106 -106
62%- 64%
98 -100)4
100 -100
lOO -100
90 - 90
03-93
06-96
64-6
90 -99M
09%-106
97 - 97
105 -105
99%-105%
93-08
100 -102
08-08
06 -05%
77%- 80
56M- 66
29-29
25%- 29%
48 -57T«
101)^103)4
100 -104%
■ 78
.69
80 - 86%
16 -21%
119 -UOM
105 -100
76 - 76
94 - 05%
73 - 75
10S%-109
62%- 82%
60*4-86%
20%- 24%
28%- 31%
57-63
106%-lOOX
104 -108
93-93
09 - 99%
90-08
UO -112%
0S%-04%
:J4 -94%
63-66
90%- 99%
97 - 97
07 -101
97-87
97 -W
04%-96»<
78-82
105 -105
01 - 91
81%- 61%
83%- 67%
22-30
30-33
26-26
27%- 32%
58%-84M
107M-U0%
104%-110
8«M- 89
21-86
121 -181%
108 -loea
76 - 78
73 - 75
86-76
103 -103
98 -101
10l%-104,^
100 -101%
102 -106
98 -101%
102%-105%
100 -102
96-96)4
60-53
96-97
95-90
US -116
95-95
65 - im
26-38
35-35
34-40
64 - 68%
110)4-115
109%-114%
UO -Ul
111 -112
10e%-107N
113%.1U%
UO -120%
99 - 99
112%-U4
m- 94W
84-80
18%- 22
121)i-123
107%-107%
78 -78)<
70%- 71
86-70
100 -lOO
102%-103
101%-102%
102%- 103
101)^103
103 -103%
102 -103%
103%-103%
101%-103%
75 - 75
46 - 47
97%-101%
87%- 90
107 -107
109 -no
95-96
Ul -113
98)i- 98%
85 - 7«<
26-28
27-27
24%- 25
34%- 37%
685<- 66%
Ul -113
109%-U1%
116 -118
•i"
THE ( HRONICLE.
(Vou. LXIV.
-C«B«lMde4.
JAWCAMV
t«l -'•"
lii - -— «« «
bMJMh LMJim
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JOHI.
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lOtN-lOSN
UH- M
101 -loemioo -loiM
M - MH' BO - M
87 - an*
106 -106
1MM-I06M
I -IW
IM -IM
M -MM
W -MM)
U -MM
1« -IM
tM -106)4
MTM-lon*
MM- MM
IMM-IMM
Mi- MM
•IM- M
MM- 80M
llOW-U*
lOT -IM
MM- M
ia6M-iM
100 -lOS
M
M
MK-SOH
MM- W
OCTOBBB.! Nor'BBa.
IM -lor
M -M
MM-UM
IM -U
MM-«TM
M - M
IMH-lM
MM- 78
J* -lit
lOtM VMM
40 - 41
•7M-M
ss - n
S1M-86M
M -MM
IM -107M
4«M- MM
IM -ia«M
60 -a*M
IM -106
M - 07
tt - W
•7 - »7
» - MM
M -M
IM -IM
IMM-IM
M - MM
lOSMUXM
8»M-WM
M - Mfi
UOM-US
lOCM-lOOM
lOTM-lWM
107 -107M
M -100
MM- M
M
IM -IM
M - MM
aO -84
1» -«5M
llOM-US
IM -IW
10* -106M
IMM-lM IM -107W I07M-U0MIWSM-UW*
M - M
n - 8S
MM-M
10* -IM
mi- MM
1* - SO
IM -lU
IM -IM
IM -IM
101 -10*
M - M
77 - 7»
Wi-ri
IM -IM
U -M
IW -107
•7 - M
89 - M
IM -IM
80 - 8S
M -70
DbcTbbb
IMW. Blah
lOBM-uaM
MH-T*M
iMM-io*M
M -M
108M-107M
*» - *7M
UM- 14M| U - UK
M -87
36M-4SW
T - 8
IMM-lM
M - 78
87M-87M
I06M-108H
M -lOlM
MM-M
107 -107
M -IM
M • *0
t06M-10'M
n -76M
ia6M-IM
MM-IM
M - MM
07 -MM
86 - SOM) 8* - 86M
71M- T»M( 7*W- 1^
MM-IM <1W -IM
n -8»
87 - M
107 -107
MM- MM
•8M-M
lOOM'loeMUw -lOOM
UO -uo
u* -u*
M -M
88-91
BI -MM
SBM- S»M
M - M
MM- •*»
W -BIM
UO -110
MM-BSM
IM -IM
IM -10*
M -S7
7t - SIM' 80-80
IM -107
•«i-lW
78M-80
7SM- 83
I6M- M
UO -110
IM -107
lOlM-lM
n -M
88 -MM
80 -88M
M - STM
lUM-IllM
1MM-I04
100 -IM
iw*-7»M
86 -»
83-86
88 -MM
IB - mm! » - SIm! mm- S7
UIM-U8 |108M-I1(^'U1 -UlM
IM -lOtMlW -IM
«gM- 68 M-... ■ .. .
lMM-108
m - MX
LlWDO«. Satckoay. Dwember lUtb, 1890.
> imaOft h«*« bMo allowed to Irak out, it ia
baU«T*d in arvry capital in Kurope (including
•) lk«( IL d* Nalidoff*! ralurn to Cooslantinople will
dMHIjr h»foliow«dbf an attimatum on tb« part of the biz
Omm PoWOTi le lb* Suluo. calUng upon him to make the
■> B iMBfy rtforaa for the padfloMioa of the TurkUb Empire.
At Um Uaa of Ik* Cur'a vUit to the Qoeen at lial moral I re
patad ia wj waaUy U«i«r that it waa oaafldenily aaMrted in
•nallr waU-taforaMd eirolea in Englapd that an arratiKcment
anivad at hatwaen the Czar and the Uaiqui* of
wUfe rt < MM> u 8 lo Turkiab alTairi, and it is now
' brlierad tkat Iba oarryiag out of the arraosement
loaly baawi to la j ridtertba •attlaoMBt of dataiU and for
«t c k tt M mn tha eooaaot of tba other areat
II la aMad that aboold tba Saliao decline to notice
MftalttMlaa of Ika Ofwat Powaca, focaa will, if ncoeaaary,
ha Mid to eaaqMl ktot to d« eo.
U Ika ftrkl* ^oartioo U OaaUj laMlad a boom upon a great
■yaa Iba Varopaau Mook axobaoffai ia ooofldenU^ pre-
<liotf d. The general conditions are ezceedingly favorable for a
boom. Money in all reasonable probability will continue cheap
for many months to come; trade during the past year baa been
actiTe, while there has been no great speculation worth talk-
ing of upon any of the European bourses. The break-down of
the South African speculation a little more than a year ago is
a very different thing from the breakdown of the Argentin
speculation in 1890. The Argentine speculation was in realit
based upon the credit of the Argentine OoTernniant, and the
revolution which followed showed that the credit of the Gov-
emment was by no means high. The South African specula-
tion on the other hand, although in some cases the prices
reached were extravagant, was in reality based upon a
genuine and growing industry, and while it oannot be denied
that certain people undoubtedly suffered from the heavy fal
which ha? taken place in the prices of South African securi-
ties, at the same time the injury lias been comparatively
small. The outlook in South Africa itself is also more
favorable than it baa been for months past, and if the dread
of constantly recurring troubles in Turkey were once re-
moved from the minds of market men, it is confidently pre-
dicted that we should see active business early in the new
year.
Jandaet 3 1897.]
THE CHRONICLE.
29
For the time being rates in the moary market are stiff, but
certainly not more stiff than is usual at this season o( the
year. In spite of the considerable sums which have gone
into the country to meet the needs of the approaching holi-
days, the Bank of England reserve still amounts to over 26
millions sterling. Day- to day money commands in some
cases as much as Z}-^ per cent, while the discount rate for
three months' bills is about 3fi per c«nt. Long-dated paper,
however, can te readily discounted at fully a point below
Bank rate— which, as the reader is of course aware, is 4 per
cent. According to cabled reports from your side the hold-
ings of financiers in New York of bills on Lmdon amount to
about 10 millions sterling, and consequently, it is argued,
gold is not likelv to come from the United States as soon as
was expected, but inasmuch as the market supplies here in
London are about equal to the demand, the delay can hardly
be regarded as a matter of very serious importance. It is felt
that as there has been no active speculation in American
Mcnrities, the large suma due from your side in the form of
interest aod dividends upon British investments will more
than balance the amount owed by this country for the pur-
chase of produce and the like.
The stringency of the Indian money market has been so
great that open market rates have in some cases been as high
as 10 and 12 i>er cent, even to borrowers in excellent credit ;
while the ofiSoial rate of discount both for the B ink of Bom-
bay and the Bank of Bengal is 9 per cent. To relieve this
state of stringency the India Council decide 1 at their meeting
on Thursday to release two crores of rupees from the
Presidency Treasuries. The « Sect of this is not expected to
materially alter the price of silver, bat it will enable the
Council to draw more freely upon London, and will postpone
at any rate the loan of 4 millions sterling which it was
reported from Calcutta some weeks ago would be raised in
London early in the new year.
A report has been issued ibis week by the B >ard of Trade,
showing the state of the skilled labor market throughout the
United Kingdom. These returns only relate to members of
trade unions and skilled workmen, unskilled labor bi ing
wholly left out of account. But the racCa are sufficiently
remarkable to justify the conclu»i in that employment is ex-
ceptionally good at the present time. The returns show that
in 111 unions iending reports to the Board of Trade about 2
per cent were out of employment, as against over 4 per cent
at the same time last year, of the total number of workmen
affected. The report adds that the increase in the amount of
wages is estimated at Is. Od. per week. Forty five thousand
coal miners in West Scotland have secured an advance of Od
and 9,000 an advance of 4d. per day. Nearly 4,000 work-
people in the engineering and shipbuilding industries and
orer 3,500 nail-maxers have secured increases. During No-
rember about 7,000 work-people in the linplate trade have
obtained advances of 5, 10 or 15 per cent. Other increas-s,
involving 64.000 workpeople, were settled by negotiations,
mutual arrangement, or were voluntarily conceded by the
employers. This shows that the steady improvement in trade
which has been going on all through this vear is well main-
taintd, aa the figures oome down as late ai November Hat.
The following return shows the position of the Bank of
■ngland, the Bank rate of disooiint, the prioe of consols, &o ,
compared with the last three yearn :
IBM.
X>M. 18
«
H,Tao.izo
S.M8,S80
S0.MS,S07
ia,Tt3.8<» t4.8M,8tS
tT.lS7,«SS
M.aot.211
UOM
«(M.
L8S«.
Dm. id.
_ »
OtrsuUaan MMtSiO
FobUadapodt*.. 0,820,837
Othar depMlta „.... tfjlta,38t
OorammantaaoarttlM ...
OtiMrnovntiM
BMVrre of aot«« aDd oMn. ...
Colli* ballloo. both depvtmt*
Prop, raurr* to lUbllltlaa. . p. 0.
Bankrata pareaot
Couola,SN paroant
SUvar
H,<8t.78S
44,S7a,SU
SOI-IS
t
108H
•OK<L
i7a,a6«.0M
ise4.
Dte. IB
i
t6,8SS.10S
t,743.StO
S4.1*3,9S>
13.180,181
18.6V7.M0
tt.Ha7.-H4,
S3.3aS.388
a31l-l«
a
103
•i7Md.
t<S.«30,000
Dtc. to.
a
ZS,S01.716
4.3SS,784
37,70),i86
8,897,612
M.8M.S9S
lS,14a,7fll
9S,0O1.47»
60S-ia
3
»7 le-iis
SlMci.
14«,»8<.0«0
Oaanos-Houa ratsnu lSS,Tas.0OO
* Deoamber So.
Messrs. Pixley & Abell write as follows under date of Dec-
ember 17|:
Oold— There hsii been bo deereasa in tli'^ <leiu»n<l for gnXd. aail soma
■mall amoiiot* bare bnea taken froca the lluuk In addltinn to the
amonnta on oiri>r In the op«n market, the Bank has do It £'J:),000. No
further «iim« bavH Daea wltbdrawa tor tho But. A.rriv»ls: \Vo«t
Iinll.!*. i.'fJ.OOO ; Klv^r Plato. £112,000; Mew Zealand, £5,0110 ; Bom-
bay. Jil-t.OOO; S.tlil. £U9.0l)0-. OUIIl. «1.00); total, £(147.000.
BhlpmeDta: Bona!i.»y, £6),'>iM); Eityiit. £323,000; total. £383,500.
•ilTer— F<»llowluif our r«p<
and haa slooelhen remalot^u iinchanfceU
ver— PiillowluK our report of l:k.it Wrt«k, silver liardeoel to iOa.,
iDoelhenremalaeu unchaiiiceU. Hie market olmes to-day with
perhaps aallghtly we«k.irniiM. II. k. .\rrlv*lii: New York, £184,Ol)0 ;
weat ladle*. £21,000; OblH. £6S.000: total, £273.000. Shipmenta :
Bombay, £46,000 : Jan^n, £l5,Ooo, totil, £6l,00O.
Mazieao Dollara-MthouKh ntlll Inquired for, the prloa la hardly as
food aareoenlly. and '2'J>«d. Ii alioiii the beat to be hwl. About £38, -
000 same from Now York and £44,300 has bean sent to China and
the StratU per P. A O. of 11th lost.
The following shows the imports of cereal produoe into
Mm United Kingdom during the first fifteen weexs of the new
MMOn compared with previous "^^'t'wnt :
1S96.
Iinport8ofwheat,owt.20,272,730
Barley 9,033,470
Oalo. 6.491,280
feaa 1,380,145
Beans 1,014,730
[ndlanoom 18,519,800
Floor 6,499,410
Supplies available for consumption (exclusive of
September 1) ;
1896.
Wheat imported, owt. 20.272,730
Imports ot flour 6,499.410
Bales ol home-grown. 9,013,591
IHPOBTS.
1895.
21,447,060
9,739,830
4,334.240
935,900
1,223,540
12.503,150
5,778,780
1894.
19,368,233
11,061,100
4.699,384
845.424
1,288,600
6,442,344
5,905,486
1895.
21,447,060
5,778,780
4,799,585
1894.
19,368,233
5,905,486
6,318,365
1893.
19,235,166
10,714,953
4,287,139
823,006
1,463,751
8.058,363
6,292,646
stocks on
1893.
19,235,166
6.292,646
7,673,655
Total ..
.35.785.734 32.025,425 31,592,084 33.201.467
EagUah Financial ITIarketa— Per Cable.
The daily olosing quotations for securities, &o., at London
ar« r sported by oable as follows for the week ending Deo. 31
LONDOB.
SaL
Man.
riie*.
Wed.
Thuri.
rri.
Silver, per ounce d.
Consols., new, 2% p.ota.
For acoount .. .
•<
a
i
a
29^8 2978
110"islll%
HI Ill's
lOi-t-'H 102-45
13^8 14>«
22i«
5619 ' 561s
I6I4 16H
74% 75
4318 4314
1518 1538
3413 35M
94 941s
1.57 157
481s 49
70 7014
11^ I314
96% 961s
15ie 1514
161s 17
221s 2314
29^8
lll4
102-45
14is
2358
5718
161s
7538
x4278
1538
3514
94%
157
4958
7018
I3I9
96%
15H
17%
23 14
331s
53 >9
13 »8
9=8
2714
9"8
1614
291318
111%
111%
02-37 19
143g
2418
57i«
16%
75
427,
I514
3514
941s
■49^"
70%
13i«
96I3
I518
"33%"
5313
131s
9%
27i«
9»8
16%
Ft* oh rentes (In Paris) fr.
A.teh. Top. .t Santa Fe.
Do do pret.
Canadian Paolflo
Chesapeake <fc Ohio
Ohio. HUw. & St. Paul
Denv. & Rio Gr., pref..
Krle, common ...... ...
1st preferred .........
liUnois Central
Lake Shore
Loolavllle A NashvUle.
Mexican Central, 4s . . .
Mo. Kan. & Tex., com..
N. Y. Cenfl & Hudson.
N, Y, Ontario & Wesfn
Norfolk <k Weat'n, pref.
Northern Paolflc, pref.
H
Peunnylvanla
Phlla. A Read., per ah..
•outh'n Railway, com..
Preferred
53
13
914
26%
9%
15'8
53
1318
9=8
27ie
9>fl
IS's
Wabash, preferred
• Toting trust receipts,
(SiatamzxcisiX %ad ^tscellatieotts ^«tvs
Imports and Exports for the Week. — The following are
the imports at New York for the week ending for dry goods
Deo, 24 and for the week ending for general merchandise
Deo. 'J5; also totals since the beginning of the first week in
January.
FOBBIOS IXrOBTS AT ICBW YORK.
Foriotek.
Dry goods..
OsnT mer'dlse
ToUl
ainet Jan, 1 .
Ory goods. ....
OenT mer'dlse
Total 51 weeks
1896.
1895.
$1,865,790
5.122,564'
$2,422,915
6,251.711
•6,988,354' $8,674,626
I
$104,766,107 $141,221,612
329.952,741] 365,466,651
$434,718,848 $506,690,283
1894.
$2,120,002
5,414,652
$7,534,654
$8S,780,563
343,196,459
$421,977,022
1893,
$1,360,325
4,261,179
$5,621,504
$116,266,244
407,556,700
$533,822,944
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending Deo. 2S and from January 1 to date :
■XPOSTS KHOM irSW TOKK FOB TBI WBBK.
1896.
$5,270,605
877,387,936
1895,
$7,470,065
334,039.'203
1894.
$5,951,203
346,788,587
1893.
$6,920,860
364,083,756
For the week
Prsv. reported
Total51 weeks $382.658,541 $342,109,263 $35 2,739, 770| $371,004,61 6
The following table shows the exports and imports of specio
at the port of New York for the week ending Dec, 20 and
slnoe January 1, 1896, and for the corresponding periods in
1895 and 1894 :
■ XPOBTS AHD IICPOBTS OP SPSOIK AT HSW TOBK.
Bold.
Qteat Britain
France
Germany
Westlndiea
MeilM
■onth America
All other countries.
Total 1896..
Total 1895..
Totall894..
JlxporU.
Import*.
Week.
81,440
57.500
5,000
$63,940
2,314,574
861,.500
BineeJan.1..
$12,089,760
8,357,541
27,003,506
1,048,596
62
2,850,417
83,000
$51,432,882
99,256,236
95.152,693
Wetk.
1,960
26',488
$22,448
151.566
14.665
Since Jan.l.
$43,682,838
8,942,498
19,991,918
8,574,346
264,352
1,291,183
97,428
$82,844,563
25,843,588
16.547,343
aUver.
Oreat Britain
France
Oermany
West Indies
Uexlco
Bonth America
All other countries.
Total 1896..
Total 1895.,
Total 1894.,
Eiporlt.
Week.
$786,600
306
13,062
15,200
1,000
$816,068
1,000,,S()0
687,025
Since Jan.l.
$47,367,647
3,731,iiS9
85.476
412,822
123.061
2,771
$51,723,466
38,904,216
33.970.197
Importt.
Week.
4,270
41,754
1,790
$47,814
5,052
7.66S
Since Jan.l.
$13,277
6,613
9,935
399,929
911,860
1,449,036
98,440
$2,889,099
1,776,450
1.696.337
THB CHRONICLE.
fvou Lnv.
A ITvnhAV odtt in »i»o«h«-r clurao
tnam fu vir MM bemAt. TUm*
• ••■•MM
ana dte al M}i Md
InMrMt
$ DM eial bowWL Tb*
«(tll tlM ItSlM of UM
giTM kt
^M iin-1 by M«MW. J- R- vnUu4 ft Ob.H Broa(l««J>
ArmM|*«t »tie» »o» gntaMa pravWou Md «*•
1 la fliMk Bntaac* ftnaa mum><ibc«<1
• ■->•« ito Mr iT Ik* mliiwiil e( Mr. WlUUm U.
. fN« tte Sii^Moer* * SeklV Md tk« aamMon o(
0«Ma« r. OtaOmr 10 MratanMf <■ Um »■• BfB*
, _ to <aotk«r eolaa n Uut b*
tettoVMloMMrlpaor |Wopw*to« th»»
•-- '— -« w«U MiU oih«r
tha iJtitfTi«t*~- of these eKporte for the week and sinoa
§g^^ liii 1, ISM. If M below. We add the totaU for the
^CTtttr " "'<'''« P«ioda of Um( rear for oomparison:
— 4.. , . Otnk-
N^. KirrftOa, offer Janoarr iarcatofs a
faUtvad. traottoa eoaapaay and coanty and
A imnii Ual of aalMtwl Mcoritica will be
VOL
— aooL PanoM, UiMk « 00.^1 Jaaatnr liat U readr and
«aa b* iMd «■ aapMBaHna ■• tkatr offloat, I Wall Str^t. New
Tetft. aad llA Oaatbofa SbwC, Ghieaco.
WlMlaw. liMlar ft Oo. will par diTideoda oo a
•r w rari tli r. tM of whioh will be foanJ in »n»the r
■4 diTida»da payable »t the office of the
TVvaOooipaay are adrertiard ia thia i»ue.
X.W.IIarrUAC^t. will ptrdiTidwadaoaa number
~ which will bf found in saotber oolamn.
MdaiMM Ai
tK«a«* f ■■fct rron Wmf 4S.-Tha
M«jM«fwad mrna from the ncana of the
kuc*. We Orat give the raoeipta at
ra, ■rraaced ao aa to p raa o rt the
the week eadlac Deo. S«, 18M,
1. for eaoh of the laat three yean:
iteoa noMBce. We
•ad river porta, arrai
Ike reoalflaof dowaad gnUa at tke aaa b oa r d porta for th«
s % ^ ^ ^»
•gssf aS .^ *^ ""*
thraaaa ](•« Ot««ua for tonun
l.7»
iir.oit
7h»
toDet
a« porta aaaaed in laat uble from Jan. 1
aa foUowe '
I for foor yeara:
MM
i*.msH
«u.a>r
l«.»5«.5ei
II. IM
MM iirr.*r« *•«.<>«
rSSua
The
iM.Mt t.Mii.an
•(T.tee 4.iii^t«t
«e;.«TO »».»«p.T«<
i.t:«.(ii it.!n».xiio
OM.flOT
i.n*
t.TSI
6.000
IflS.lVO
8,t37.''W
l.7l»7.811i
ao.i«K.n«
00.004
9-M.tBl
IviitS
l.l(l,0<S
4«.li«l.lN
l»,««7.ttfS
riaible eupply of gntia, comprising the stooks in
at the principal pointa of aooumulation at lake and
Maboard~porta,'lVeo. ->8, fSM, was a^ follows:
tte«Mf^rro« Ike aeraral aaaboaid port* for the week
mUm Oto, M, MM. anakowa ia th* aanesad atatoment:
i& est -KSr;
ifr. «/Srfe»
nijjftsvsa w& "fifi .r^. «»ft'
B.eti
too.ooe
w.-.-.. '
»»l EITW.
••.coo
MO.MIO
t.oM;oei
tOI.000
1.U4.000
Miodi
io.Mo
t.tM.000
i.4Mi.iMi
•e«.ooo
447.000
UOjOOO
iaR.000
10A.000
47S.OM
sn.000
l«.tM.000
Ut.O(iO
s.ii«e
«.oao
im'.o6o
M.«)6
«t'.000
i,3«>.oao
llO.OOO
1.000
048,000
■»s.(»o
l.!>0i.000
MX.0OO
101.000
KI.OOO
1.7MI.000
tl.OOO
litO.000
S.r<o.ooe
tu7.aoo
1*0.000
»4 1.000
tnt.OCO
t.7M,000
n.ooo
ILOOO
W7.M0
478.'m6
4at.ooa
XS,000
itKwn
OK.0'0
1.0t7,00u
tUtJMK
uiooa
8S»,000
18.000
100.000
ft&.000
149.000
ISO.OOO
StM.UOO
ISO.IMO
1,«7.000
;4«,ooo
10,000
.000
110,000
4t,000
dLOOO
"tloitt
l.OCO
"xs.o6i
is. MO
li.bioo
1*7.000
10.000
Mai Dm *«. litM.M.U\000
ktOI Om. l»,UM.4i.l(4.000
Kt«> oea. m. UM W4M.000
>«•' Dm. il.uai.«,Mi,ooo
reUI Dm. m, im».*i t(o,ooo
1(1.801.000
18.' 73.000
6817,000
S,'SO,000
84«3.«M
ia.47S.000
ta. 484.000
8,408.000
■Loiia.000
8.770.000
t.»00.000
t,H3l.000
1.661.000
446,000
683.000
i.>'«8,ooe
317,000
io,oeo
i.«ia.ooo
8t.00«
M,OM
8«.<ffe
iToiwe-
S7,00»'
iio.oM
14.0CO
iiO.M»
a.fOO
.000
10.000
68.000
•4.000
4.875.0 •
6,130,000
8,781,000
8,088,000
2,110.000
• Onr^o— I«f t wMk'4 docki; ihia week'a not roMlTed,
GIty Ballroad Seearlties— Brokers' Qaotations.
Af^ B'klTB-
aM.Sf,f.. iMT..Aao
aUoL 8t.*rml.P.-8tk
Bid. A«k.
lMBert,T»,l»OO.J*J
In fUpia TiMiilt.
B'wkr «'' (>>>*«'-<' took.
Braa<ui
lltmort.,6*,l»04.JAD I
M mort.,«*.l«14.J*J I
B'warl*t,S*.(tur.l»84 j
ldt«.lBt.MrM>fl.l»08 j
OmwLS*. 1048...JAU:
Bnoklrn Cltr-«took....
OOBMl. 6«, \»4I...J*J'
Bklra. Croufn 6*. 1808 ;
Bkl'a.Q'noOo. ASob. I it
Bklra.O.AN'wt'wii— Htk
•■,1»S«
OoatnU CroMtavB— Stk.
OHLPk. N^ B.BIT.-8U. I
OobmLT(,1901...J*D
Ootumbu * »tli AT*. S*.
~it mort.1888 ...AJtO'
(103 ,107
77 80
29 31
1103 108
18i«l 19<a
l»U 200
{104
iiu8 in
Bid. Aik.
112 119
104 106
117 'm^
174 1175>a
113
101
115
105
lUO 105
IGO
il07<« no<a
200
no
165
1105
155
IIQH,
iia>9 U7
150 155
102 .....
D. D. B. B. * BU'r-SU.
lot, Roid, 6t, le/a.jAO
Sortp
UShth ATOone— Stook. . .
Sortp, 64. i914
4ad* Gr.^b Fer.-SUMk
4adBt.MuL A 8t.M. AT.
1st mart. e«,1910.M*tr
M mort. tnoome 6« . J AJ
I/ei.AT«.AP»T.FsiT7 6i.
Matropolltu Trkotlon. . .
Ninth Arenno— Stock...
Sooond ATonno— Stock..
l«tmort.,5i,1909.MAN
Dotractare 6>, 1B08 .J AJ
Slztli Arena*— Htock
Third ATonac— Stock...
lit mort, 6>, 1837.JAJ
Twonty-Thlrd 8t.-6fk.
D«b. 5a. 1008
Union Rt— atook
lit 6*, ma
WMtobMt'r. lM,(a.,5o.
160 ,168
112»4'
«ioo loa
330 350
110 118%
330 335
I 57
JUS
65 I 60
II6H1II7
108 IO8S4
158 I
140 145
10<!>!ilO8<a
102 jl04
192 ...^
161 161>a
122
800
'loa
loa
fioiV
iioi>*ioa
I Ab4 ooersod intoroot.
Hum Secaritlea— Brokers' Quotations.
eABooKPANisa.
Bid.
B'klTS CnlonOM-Stook.
Bend*
Oaatni
OoaaUBen' (J*r**r Oltf).!
Jotm y city A Hoboken.:
MiW e i l uU Un-B
-Bond*.
MatanlcN. T
r. A BikM BIT. 1 •*»*..
80
105 1«
in.1
71
100
180
105
Omumb..
OneoLM
10s "a
71
iOH)
93>*
Ask. OAB CX»IPANIXS.
89 P*opl**'(J*r*eT Olty)...-
WllIlMn*barg I*t 6*
Pnlton Mnnlolpel 6*
77 Eqoluble
104 Bonda, 6*, 1899
Ht. P»nl ^.
Bond*, 58
2:10 Btuidnrd.pret....^
l<r,ig Comiaon..
7."i Weatem OM
4',! . Bend*. 6*
im I
Bid.
170
102 >*
105
189
105
M
79
Ask.
175
196
58
82
106
8S
65
02
ganhtug and gtnanctal.
Spencer Trask & Co.,
BANKERS,
• T * *• PI!«B STaBKT, • • NBW TOBK.
65 atalt Street, Albany.
INVESTMENT SECURITIES.
Samuel D. Davis a Co.,
BANKERS,
IfO. S« WA.LI. ST., IfBW TOBK.
Samuel D. Davis. Cbab. B. Vai» Nobtbahd.
•eoaaa bamlat MorvAT. alii*»i>«« m. wmrr^ jb
Moffat a. White,
BANKEks,
SOrilfSMTItHBT If B1W T • i» K
■NVESTlliflEINT. 3FCU1RI TIE
January 3, 1867.J
THE CHKONICLE.
31
lijhe ^mikzvs^ @a«ette.
DIVIDBIfDS,
Xamt of OompoMy.
Railroads (Steam).
Boaton <<k Pror. guar, (qoar.)
Central Paoiflo
CoDseotleDt Rirer
Korthern of New Jer«ey
Norwich dc Wurceater pref ..
P. Ft. W. ifc C. apeo. Raar. (quar.)
" " •' rcK. •' "
Pictsfleld A Xorlb Adams
PortlaDd Saoo it Portamouth ...
Soatliweaiern (Ga.)
Texaa renlral pref. (annual)
Ware River
Street Rallirays.
Heat. Man. & Fair. P (Pbila.)com
" " " ■• pref.
HewEDg.8t(S.naT.,C0Dn.) (qu.)
Mewton (Maaa.) Street (quar.)...
North Chloaeo iquar.)
Baiika.
Continental NattooaL
EleTentb Ward
Fifth National
•' " (extra)
KJusaConntT (Broeklyo)
Meenaoioa' tBroolclrn)
Uechanica' ik Traitera'
Weat Side
niacellaneeaa.
American Tobacco common
" " pref. (qaar).
Sdlaon Elao. 111. of N. Y. (quar).
Moaler Saft-, pref
New Orleaca Qaa
Old Dominion S 8
Fennaylvanla Cnal (extra)
Bbode (a. Pei k. H'aeshoe pf . (qr.)
Tazaa dt Paolflc Coal
Fer
irA«n
Omt.
2><
Payable.
Jan. 1
H
Jan. 1
5
Jan. 1
«a
Jan. 15
4
Jan. 6
1%)
Jan. 5
1H
Jan. 1
3
Jan. 15
2««
Jan. 5
3
Jan. 15
3>«
Jan. 6
2's>
? ^
Jan. 15
Jan. 15
2
3
Jan. 15
Jan. 15
3
Jan. 4
4
Jan. 2
1 \
a"!
Jan. 2
Jan. 2
6
Jan. 2
3
Jan. 2
S
Jan. 2
;J
Feb. 1
Fab. 1
4
Jan. 1
4
Jan. 15
8
Jan. 2
5
Dec. 24
1\
1
Jan. 1.5
Jan. 20
Booki elo$ed.
(Day indunvt.)
Jan. 17
to
to
to
to
to
to
to
to
Deo. 20 to Jan. 5
Jan.
to
to
Jan. 15
Jan. 10 to Jan. 15
to
to
to
Jan. 1 to Jan. 3
Deo. 19 ta Jan. 1
Deo. 29 to Jan. 1
Dee. 25 to Jan. 4
Deo. 25 to Jan. 3
Jan. 16 to Fek. 1
Jan. 15 to Feb. 9
— to
— to
Dee. 16 to Jan. 2
to
to
Jan. 1 to Jan. 20
WAL.L 8TaKKT, THURSOA V. DEC. 31. 18BS-9 P. M.
The Money Market and Financial Situation.— Business
in Wall Street has been on a limited scale even for the clos-
ing week of the year. Investors seem disposed to wait until
after the January first settlements have been completed
iiefore commencing new operations. More bank failures
liave l>een announced in the South and West, but they are
oluefly of small concerns which have been for some tim^^
regarded as weak and doubtful because of the character of
their business and methods, and therefore do not refleot
general bu.siness conditions.
The European money markets are easier. Foreign exchange
has been weak and rates for bills are lower than our last
report There is doubtless a large amount of bills still held
by investors here and there is no apparent evidenoe of a
limited supply of exchange for some time to come.
Railroad earnings continue in many cases unsatisfactory,
and are not an incentive to activity in railway securities.
Notwithstanding the present dulness in all departments,
there are reasonable grounds for the hope that during the
year now opening better results will be realized in all busi-
ness circles than have been experienced in 1896.
The bank reserve lias been augmented this week by the
flow of currency towards this centre, although interest rates
are practically unchanged.
The open market rates for call loans during the week on
■tock and bond collaterals have ranged from 1<^ to 3i^ per
oent. To-day's rates on call were 3 to 2% per cent. Prime
oommerclal paper is quoted at 3^ to i% per cent.
The Bank of Eingland weekly statement on Thursday
•howed an increase m bullion of £849,172, and the percent-
age of reserve to liabilities was 44-39, against 48-39 last
week ; the disoount rate remains onohanKed at 4 per oent.
The Bank of Franoe shows a decrease of 13,611,000 francs in
gold and 6.314.000 francs in silver.
The New York City Clearing-House banks in their statement
of Deo. 36 4howed an increase in the reserve held of tl,i97,0 )0
and a surplus over the required reserve of $24,309,900, against
183,374,735 the previous week.
Capital
Sorplua
Loana A dlao'nta,
droolatlon
Hetdepoalta
flpceie
Mgal tender*
Beaerveheld.....
Legal reaerre....
1806.
Dee. 36.
•
60,772,
73,885,
487,673,
19.760,
6a.l,«37,
76.768,
89,^01,
XHJteren'ttrmn
Prev. wetk.
165,769,
181,459,
,700
,400
,300 Ine
,rOO Deo
,200 Ino .
,'•00 Dec
,200 tno.
,200 Inc
,300 Ino.
657.300
37,100
2,247,300
483.600
2,080,600
1^597,000
661,825
000 172,591,700
, 325^137,322,850
aorplua reaarve 24.300,900 Inc. 1.035,176 16,939,6751 35,268.850
•
61,122
73,017
47S,16d
13,'I26
501,089
67,114
I 74,097,
141,212,
125,272,
.700 61,622,700
,100! 72,02^,200
.500 49-2,647,00O
700| 11.294.700
300 519.291,400
200 73,760.«00
800i 93,831,1)0
Foreign Exchange.— The foreign exchange market has
been weak under the influence of easier money markets
abroad and a limited demand. The supply of commercial
bills has been fair and some investment bills have been
offered.
To-day's aotual rates of exchange were as follows: Bankers
rtxtv days' sterUng, 4 83^®* 84 ; demand, 4 86>ia4 86>i;
oables, 4 87(84 87>i.
Posted rates of leading bankers follow:
December 31.
Prime bankera' sterling blila on London. .
?rlme oommerolal
Documentary coraraerolal.
Paris hankers' (francs)
Amsterdam (guilders) bankers
Frankfort or Bremen (ralohmarka) b'keia
Bixfy Dayt.
t, 81 ®4 841^
4 83 -94 8314
4 82>4 3i4 83
5 20 *5 196,g
3916i««40
95''8a9415i«
Demand.
4 87 -a>4 88
siS'igasis^s
403i,»40i4
953Ba957i,
The followinsr were the rates of domestic exchange on New
York at the under-mentioned cities to-day: Savannah, buying
X-18 disoount, selling par ; Charleston, buying 1^ disoount,
wiling % premium ; New Orleans, bank, par; commercial,
$150 discount; Chicago. 400.(3603. per $1,000 premium ; St.
Louis, par@25o. per $1,000 premium.
United States Bonds. — Government bonds have been
strong on limited sales, which at the Board include $93,000
4s, coup., 19-2.5, at m% to U0%; $'37,.')00 4s, coup., 1907, at
1111^ to llJi^; $33,000 4s, reg., 1907, at t09Jg to 110>^ ;
$5,000 5s, ooup., at 114 ; $1,500 5s, reg., at llSji to 114, and
$10,000 38, reg., at 95}^. The following are closing quota-
tions :
3H( »■ ■■■» •■•••■ arofc*
la, 1907 reg.
4s, 1907..„...0onp.
4b, 1925 reg.
48,1925 ooup.
5a, 1904 reg.
6s, 1904. ...... oonp.
68, oar'oy,'97. .reg.
6a, our'cy,'98...reg.
6«,onr'oy,'99...reg.
4s. (Ober.)1896.reg.
4a, (Ctaer.)1897.reK.
4a, (Cber.)1898.reg.
4a, (Cher.)1899.reg.
Interest
Dee.
Dee.
Periodt
26.
28.
(l.-Mah.
* 95
(. .~Jan .
109'e
i .-Jan .
uai«
t.-Feb.
'119>«
C.-Feb.
a
119%
t, ,- Feb.
114
(L-Feb.
g
•113'«
J. a J.
' 99%
r. ft J.
►
•102!W
r. a i.
h)
*105-
March.
*102
Uaroh.
•102
March.
'102
March.
•102
Dee.
Dec.
Dee.
29.
30.
31.
95
95"«
* 95 1«
110>4
•110
1I0>4
112'«
112
112
H9'«*ll9%,*H9''e
119791 120 1 12038
113\'113%«114
113% 114 ;*114
99V. '100 '100
102%*102%*102%
105 >«
•105»8 '10 >»8
102
*102 *102
102
•102 ^102
102
•102 *102.
lOi
•102 1*103
Jan.
1.
n
o
o
►
Hi
• TUi la Che price otd ai CQa morning ouard. no sale was m<ka«.
Dalt«4 States Sab-Treassry.— The following ubie shows
the daily receipts and payments at the Sub-Treasury during
the week
SeeeipU.
Payments.
Baianees.
Coin.
Oota OerCs. Oitrrertey.
Deo. 26
" 28
" 29
- SO
« 81
Jan. 1
t
3.705.679
4.745,120
2,333,792
3,150,438
4,096,012
« •
2,836,611 121,672.369
2,303,976 121,657,147
2,3i0,003 1^1,798,330
2,518, -42 l.il.^27,07<
3.641,554 122,069,"84
|. HOLIDAY.
• •
1,S25.1.52 54.028,614
2.146,900 56,161,232
l,870."-50 56,290,088
1,742,062 56,921,528
1,4S4,178 57,491,861
Total
17,031,041
13,640,986
..:...:._ :._i ;....
GoiiiB. — Following are the current quotations in gold for
coins:
Sovereign! f4 86 CM 88
Napoleons 3 85 • 3 88
X X Belohmarka. 4 74 •4 78
SSPaaetaa 4 77 • 4 83
Span. Doablooaa.l6 56 VIS 75
Mex. Doabloona.l5 50 VIS 75
Fine gold bara.
par a>« prem
Fine silver bare... — 64''8<* — 66
Five franca — 93 9 — 9SH
Mexican duUars.. — 50°e3 — &1>9
Do unoom'oial.. — — -a — —
Peruvian aola. .... — 45>g9 — 46>a
English silver ... 4 80 9 4 86
U. 8. trade dollars — 65« -76
State and Railroad Bonds.— Sales of State bonds at the
Board include $5,ilU0 Tenn. settlement 3s at 81 to 81^;
$24,500 Virginia fund debt 3-8s of 1991 at 63 to 631^ and
$36,000 Virginia Oa deferred trust receipts, stamped, at
6^ito7.
The railway bond market has been relatively active and
strong. The more active issues on the list have advanced an
average of 1 per cent or more.
Of those which have advanced more than the average
Atchison adjustment 4s, Mo. Kan. & Texas 3ds and some
of the Northern Pacifies are oonspicious. The active list in-
cludes Ches & Ohio, Burlington & Quinoy, Rock Island, Mil,
& St. Paul, Chicago & No. Paoitto, Erie, Louisville & Nash-
ville, Mo. Kan. & Texas, New York Central, Northern
Paoiflo, Ore. By. & Nav., Ore. Short Line, Reading, St. Louis
& S. P., St. Paul M. & n., San Ant. & A. Pass, Southern
Ry., Texas & Paoiflo, Union Pacific, Wabash and West
Shore bonds.
Railroad and Mlscellaneons Stocks.- The market for
stocks as a whole has been dull and narrow. Stocks with
an international market have been generally well sus-
tained as the result of more activity and the tendency to
a firmer tone for Americans in the London market. The
principal features were Burlington & Quincy, which lost 2}4
points on reports of a poor showing for November, a part of
which it has regained; Delaware & Hudson, which has de-
clined 5 points on rumors of a reduction of the dividend;
Manhattan Elevated, which fluctuated over a range of nearly
3 points, closing with a net gain of 3 points, and Reading,
which was strong on the expectation that the proposed new
charter will be i)ronounced legal. Other stocks of the rail-
way list have been steady on limited transactions.
The miscellaneous list has been relatively strong. Ameri-*
can Tobacco advanced on the declaration of a dividend.
American Sugar gained 2% points and lost it; Western Union
and Chicago Gas gained about 1 point each. Consolidated
Gas has continued weak on rumors of possible adverse legis-
lation in the near future.
Hi
THE CHRONICLE.
[YOL. LXIT.
T«M tYWNI lIfff»MW-4</ITrgJirX?g-^ /or iiwfc ewdiwg ^itjy. I. I«»T, and for year ISXt.
K ai «. tts: iP
.;- ..^ M*
%
»*••
lai lai r
<• 101^ 103
_ USi »t
'% CM •*%
4«% «r 47 *•
- I»» IM
«« 44
8J«S
•I*"* 17
•Uif !•%
•M M>«
•44 **
lOOH tO0>« 100 100
l» I^V •»» !•
lot* l«4i !•>• I«l4
IM <1<M Iflt
••% 7u^ a»« MS
*• r
1 101
•4<«
••T
■IM 114
14', irii
1 1 •% IW
•li«
■II It
•41 •• 4a>B
•»4>« 14«
•nn it
•ri" n
•114 tS4
wt% M«
, M Ml
•1«% I7<«
(M M >
•iU IM
*M 40
47 47 >■
•'4 ••
•1*4 t«|
MS M
•IM 110>«
4T«,
IM
MS
**••
17% 17%
•Jo &7
117% II*
■IM IM
•lis IIH
•U% 43
I4\ I»
»U*4 '>■«
|14% 14%
'm 47 j
117 IIB !
IM IM :
•11% IS%
•41% 44%
•14% 1»%,
■ai%
74
17
■40
;27
74
17
S7
iia%ii«%
IM%1»8%
•41%
•14%
43%
IS
t: n j IM
>iu in rill
••1 M% |»S
•MS tt I 1*4%
•1«% 1«% •10%
|M% M% '07%
IM l»4
*S» 40
47% 4!«%
•% %
•1% «%
t7% M%
1M%110
M% M%
M I
ISJ I
•1
7%
M%
!•%
•«7
'lis
92
•7%
as
•i«i%
•07%
ai
lu
t>'i%
7%
2S
18%
•«%
lis^ ISS
X\li3 IS8 ,
4S0 M>
40% 4a
> 44 49%
4a 48 1
•% %
• "4,
•1 3
•% 1
1 M% M
84% 00 1
Z10(I%IM''«
10!i% 108%
•17 M
•17 IW
1 *7a M
•74% 78
' '47 4*
•4S 48
ia% ia%
las ia%
M% «9Hj
ass a«V
irSSk.
[Om
Bancs for r»»r 18M.
I Mm* e/ locuhart Mk|
Lo
Hlcba*:.
|a«4
AeUT* KB. aioeks.
^Tto. * ■.P». •UlnatoL i»i<l
Do pi«(.
lAtUaito * ISoUto
Balttnore A Ohio
BrDokl/B lUplit Timoalt
OkudUD fMine
OmMs BoDtkani
iMIfM of Haw J»rmf
«MMlFMia«.
CkMMMk*^
li^-^ * Ohio
(Mm«** Alloa
C M »M« BurUnctoii A Qulnor
OkteMB A KMUirn lUlnol* . . .
Do praf.
Okloofo Mil waukeo A at. Paul
Do pref.
OWeofo A North WM torn
Jjo prxf.
OM«i«o Rook l4tMid A PMino
OhlaoasHi. P»iU Minn. A Oin.
Do pr«f.
OoTO. OteolB. Ohio. A 8L L...
Do praf.
Oo)aabaiHoakln«VaLATDl;
Oo prat.
DoUvamA Rnd«on
DalawaraLaokawannaAWMt
Omtst A Rio Urande ,
Do pref.
Do lat pref.
Do 2d prer.
rllle A Terrs Haate
Of«atNorthcni,pref
pUaoUOaotral
lowaOsntral
Do pref.
Lake Brio * Westam
. ^ ''" J>"'-
Lake Hbora A Mloh. Boatfiem.
Long Inland
Lamartlle A (TaahTlUa
UmlaT. New Albany A Chlo..
„ Do prof,
■a nh a it a n Elevated.oonaol..
MMropoUtan Traction
MIohloB Central
MlimeapoUa ASLJaoU. ....
Do lat pref
„ Do 2d pref.
MlaaoortKanaaaATexas
... '^ P«»'
l(laM>arl Paelfle
Mobile AOhlo
NBahr.UliattanoagaA8t.IiOala
New EoKland ,
New York Central A Hadaon.
Mew YorkObloaco A St. LaoIs
Do in pref.
Do 2d nref .
Hew York New Haven A Hart.
Mew York Ontario A Weatem.
Mew York Soaq. A WeaU, new.
Do pref.
Horf.A Weatani,aU InataL pd.
Do pre(.^.olfa.aUlna.pd.
Nor. Paoiao Ry.Totlngtr.otfa.
Do prof.
Or. BR. A NaT.Oo. Tot.tr. ctf (I.
Do pref., vol. lru»t.ctf».i
PhUa. A Reading all Inat. pd.
PlttabarKOtam. Ohio. A St L.
Do pref.
Bio Grande Weatem ;....
Rome Watertown A Ogdenab .
St. Loula Alt. A T. H.|lr.iAou
St. U A San Fr., voL tr. ctf«.|
I>« 1st pref
_^ . 1>« 'id pref.
St. t>ouia Boatbweatem
Do prof.
St Paal A Onlath ......
Do pref.
St. Paul Minn. A Manitoba..
BoatiMnPaallleOo ,
lioMhani,Totlu troat. oertlf .
Do pre(.,rotGig troat. oert.
TSzaa APaolflo
Union PaolOo traat reoelpts.
Union PaoUo Denver A Uolf
Wabaah ,
Do pret
IWbeelint A Lake BHe
I D» prof.
Wlae. OeiLOo., Totlnff tr. otfa
I niorellanvaas Htocke.
Anetloaa Cotton OU Oo ^
Do proL
American Spirit* Htg. Co....
Do pref.
American Bn«ar BaOiilng Oo.
Do pret
Amerloan TobaeooOo
Do pref.
Bar State Oat
OhMMo uaa Uo., oena. uf deu.
OoaaoUdated Oaa Oompanjr . .
Oeneral KlectrloOo
National UtadOo
!>>' pref.
North AmertoanOo
PaoiBc MaU
Pipe IJne Oertlflcatea.
Puilmaa Palaov (^r 'VtmpanT
Bllver Hnllinn Cnrtmnatea
bUuilaril Ibipe A Twlue
TwuMaaae i>ial Iron A BR...
tMtMl State* Leather Oo
Do ' pref.
DaNM StM»« Rabber Oo
- ^ i^ P"'-
Tinton Telegraph . . .
I
.•.,244
7.873
UU.)
1.124
3S7
1,4m
20
a,37U
8)146
61,4Jb -~
8%Aa«. 7
14SAn«. 7
% June 10
10% Sept. 2{
18 Aa«. 10,
82 Jan. 4'
40% Auk. 7
18 Not. 4
SSSPeb S4
1 Nor. ao
44 Jan. ar
25% Apt. sa
63%Ma7 27
81% Feb. 10
87^4 AuK. 10 110 Nor. 4
13% Auc 2i 161* Nov. 27
11 Aiix. s: 18% Nov. 10
Auk. Ii;ie4 Nov. 9
53 Auk. 7| 83% Nov. 10
37% Auk. 10 43 Jan. 18
90 Auk. 11 100% Mar. 6
38,498 59''a Auk. 10 HU Nov. 4
722 117% AUK. 7 131 Dro. 4
1,'.!»'- 85% Auk. 10 106% Apr. 88
^eo 140% Auk. 28 152 Drc. 31
8,453 49% Aug. 7 74 ^s Feb. 24
2.17U: 30SAiig. 8 40% Dec. 4
117 Jan. 7133 Dec. 14
7111 19SAUK. 8 39% Feb. 10
140 73 Aug. 7 90% Feb. 20
224 12% Aug. 10' 80S Nov. 10
48 Deo. 18 60 July 28
7,002 114% Aug. 10 129Bb Feb. 1 1
110 188 Au«. 10 166 June 3
10 Au«. 35 14 Feb 4
37 Aug. 7: 51 Feb 24
10% AUK. 7\ 17% Nov. 9
27 July 29 41% Mar. 17
13 AUK. 6 23 Mar. 16
24 Auk. 13 34% Feb. 24
200
45
'•202
9
288
40
101
521
8,1<;4
15,153
974
800
1,100
3,940
700
294
ftu
179
970
100
■"lo
1,643
6,762
207
33.195
1,100
100
'332
156
111
100
108% Mar. 13 122 Nov. 24
84% Aug. 1 1 98 Jan. 81
5% Aug. 13 10% Feb. 7
19 Aug. 7! 38 Apr. 28
12% Aug. 10 28% Feb. 5
53% Aug. 8 75 Feb. 7
134% Jan. 7 ISB Dec. 8
40% n<'0. 31 84 Jan. 7
37% Aug. 26 55^ Feb. 24
%Nov. 25 10% Feb. 1'
1 Nov. 2.'S 34% Feb. 18
T<<% Aug. 13 113% Feb. 11
79% Auk. 10 114 Nov. Is
89 Auk. 2S 97''g Feb. 11
12 Aug. 21 21% Feb. 21
34 Aug. 8, 83 Feb. 21
30 Aug. 10 63% Apr. 33
9% Aug. 6 14% Nov. 10
16 July 20 31% Feb. 85
15 Aug. 7 29% Apr. 3«
14 Aug. 10 35 Jan. 11
470 Oct. 2 570 Oil 3
&20 Aug. 14 51% Jan. 28
88 Aug. 6 99% Feb. 10
9 Auk. 11 15 Jan. 38
67% July 28 80 Jan. 88
20 Aug. 10 36% Apr. 18
160 July 23 186 Feb. 10
11% Aug. 10 16!>8 Nov. 10
6 Aug. 1 1
12 Aug. 8
IS Apr. 29
ll^Jan 81
31% Feb. 6
12% Nov. 10
19% Nov. 10
14% Dec 80
86 Nov. 14
tl4 Deo. 34
40% Deo. 3
Apr.
14% May 8
12% Dec 18
80% Deo, IS
^14 Deo. 24
36 Deo. 30
12% Jan. 7 31% Nov. 10
11 Aug. 7' 18% Feb. 7
40% Aug. 18 59 Feb. 27
16 Feb. 8 18% Feb. 10
108 Sept. 15 118 Jan. 8
53 Aug. 14' 60% Jan. 8
4 Hoc. 16 3% Dec 4
34% Dec. 30, 37 Dec. 7
12 Dec 22 14'« Dec. 4
3'a Aug. 10 5% Feb. 7
6% Aug. 7 13 Feb. 86
15 Sept. 16 37% Feb. 24
75 Dec 8 1 91 Feb. 10
860
8,132
4,03 >
332
4.261]
100
760
1.430
24,452
100
500
1,883
160
81,945
167
25,237
716
1,420
9,!)IM)
5.304
4,390
25
416
303
•84
454
840
1,000
3,470
16,130
1,03H
781
6.777
Aug. 11 115 Jan. 14
- 33% Jan. 14
11% -Nov. 10
33% Feb. 36
Vi Nov. 10
12% Nov. 4
6%F«hw 18
8 Nov. 9
l»% Feb. 84
18% Feb. 14
40% Feb. 18
4<%Fab. 34
19 Jan. 7
69 Feb. 11
14'8 Nor. 19
»3% Nov. as
105
14 Nov. 61
6% Aug. 7
15% Aug. 8
5 Aug. 7
SSJan. 7
1% Aug. 89
4SAug. 7
11 Aug. 7
SSAng. 87'
BO<%Ang. 8
1% Aug. 811
8 July 301
87 ^ug.lO
♦ "♦An*. 7
ISS^ot 20' .
95 Aug. 10126% Apr. 31
92% Aug. 8 105% June IS
51 Aug. 10 95 Apr. S
95 Aug. 4 105 Nov. •
7 Oct. 16 83 May 5
44% Auk. 8 78% Nor. 7
133 Aug. 10 168 Nor. 84
30 July 16
16 Aug. 10
75 Auk. 27
3% Aug. T
15% Aug. 7
188 Auk. 7
08% Not. 4
8% Dec 14
13 July 30
6% July 16
41% Aug. 10
14% Aug. 8
63 Oct. 12
73% Aug. 10
39% Mar. IS
28% Apr. 81
92% Nor. 10
6% Feb. 8
81 Feb. 10
164 Feb. !•
70 Feb. 84
12% Nor. 37
34% Feb. 10
ll''«Feb. I
69% Feb. 14
29 Jan. 18
89 Jan. 16
90% Nor. 11
tkaa 100 aharaa, I Before payment of any iiutalment.
JAin7A.BT 2, 1897.]
THE CHRONICLE.
33
NEW FORK STOCK EXCHANGE PRICES (Coatiaaed)— fiV^CT/rS STOO^ST. ^t Indicates actual sales. J
laAonvB Stocks.
1 1ndicates nnUsted.
Railroad Stocks.
A cany A Hosqaehaniia ._100
ann Arbor —100
Prsterred 100
Bait. A O. B. W. pref., new 100
Boston it S. T. Air Une pret..l00
Buffalo Boohester A Plttsboig.lOO
Preferred 100
BarL Cedar Baplda A Soi 100
OhlosKO Great western
Olev. Lorain A Wheel, pref 100
Cleveland A PlttsbnrR SO
Des Moines A Foi Dodse 100
Preferred 100
DnlDtb So. Sbore A Atlantic 1 .100
Preferred H 100
ErausTlile dc rerre H. pref SO
nint A Pere Uarqnette ..100
Preferred 100
Kanawha <fc MlohlKan 100
Keokak A Des Moines 100
Preferred 100
Mexloan Central 100
Mexloan National tr. otfs 100
tforrls A Essex SO
■. y. Lack. A Western 100
■orfolk & Southern ..100
North. Fac, J. P. M. A Co. otfa.lOO
Preferred 100
Oolo Hnnthem 100
Or.Sh.LlneiltU.N.tr.recall pd.lOO
Feona Deoatar* ETansvUle.-lOO
Pe'>n» A Faslem ....100
ntts. Ft. W. <Ic Chic guar 100
Fltto. & Wesbpref SO
QUisselaer A Saratoga .....lOO
Wo arande Western pref ..100
ToIe<lo A Ohio Central lOO'
Preferred lOOl
TOI. St. L. * Kan. CitylT 100
Dee. 31. ; Range (ealet) in 1896.
Bid. Ask. Lotoett.
170
8%
22
3
102
15
i'eo
8
50
3>s
35
4
2
13
7
1
10i«
24
6
105
21
61
S
10
4S
6
3
IS
9
118
......
5
2
4
160
3
8
181
20
50
35
75
170 July
en Aug.
n^t Aug.
7 Feb.
100 Oct.
10 Jan.
SI May
70 Mar.
4 Oct.
36 Aug.
155 Jan.
5 Aug.
SI Apr.
3% July
10>4 Apr.
37 Dec.
13 Feb.
30 Not.
6^ May
2 Jan.
12 July
6H Aug.
*May
ISO Aug.
100 >4 Aug.
63 >« Sept.
HMay
10 Apr.
S^'Apr.
1 ■« Jane
8 Jan.
ISO Aug.
17 Jan.
180 Deo.
39 Jan.
32 Jane
75 Apr.
6 Feb.
Highest.
183>e May
imFeb.
29^8 Feb.
7 Feb.
102 May
25 May
62 1« MaT
7013 Dee.
lO^g June
54^ May
162 Muy
9>s June
60 June
6 Jan.
I414 Feb.
SO Feb.
16 Feb.
43 Feb
8 Jan.
SH Mar.
18 Feb.
12 Feb.
2>« Feb.
166% Feb.
120 Jan.
70 May
lO^jNoT.
280» Nov.
18i«"Nov.
S'b Feb.
7i«NoT.
163 Deo.
209e Jan.
183 Dec.
46 H Feb.
35 Mar
75 Apr.
.■m Aim-
IMAOTIYB STOOKS.
f Indicates unlisted.
iniacellaiieoas Stocks.
Adams Express 100
American Bank Note Co II
American Express 100
Amer. Telegraph A Cable 100
Bay State Gas IT SO
Brooklyn Union Gas 100
Brunswick Company 100
Chic. June. By. & Stock Yards. 100
Colorado Coal •& Iron Devel. . . 100
Colorado Fuel & Iron 100
Preferred 100
Col. A Hock. <V>al tr.rot8.aUpd.lOO
Commercial Cable 100
Consol. Coal of Maryland ..100
Edison Eleo. lU. of N. Y 100
Edison Elec. 111. of Brooklyn. .100
Erie Telegraph & Telephone ..100
Illinois Steel. 100
Interior CondnltAIns ....100
Laclede Gas 100
Preferred 100
Maryland Coal, pref ...100
Mlchigatt-PenlDsalarCarCo...lOO
Preferred 100
Minnesota Iron 100
National Linseed Oil Co 100
National Starch Mfg. Co 100
New Central Coal 100
Ontario Silver Mining 100
Oregon Improv't Co. tr.reots..lOO
Pennsylvania Coal SO
Quicksilver Mining 100
Preferred 100
Standard Rope di Twine Co 100
Tennessee Coal A Iron, pref... 100
Texas Psolflc Land Trust 100
U. 8. Cordage, guar., tr. certfs.lOO
U.S. Express 100
Wells. Fargo Express 100
Dee. 31.
Bid. Ask.
ISO
40
109
190
fliss
!85
155
43
111
J24
4
150
35
100>*
!65
37i«
;24>4
75
40
52
12i«
4»«
6
19%
310
;9%
40
94
1158
"i
4%
172
40
102i<
40
241*
80
55
55>«
14H
5
8
1%
12
4S
98
Range (tales) in 1890.
Lowest.
13S Aug.
105 "Aug.
78 Ang.
7 Oct.
7SJs Aug.
ijFeb.
86 Aug.
kJuly
14S8 Aug.
90 May
Sb July
162H Apr.
30 Mar.
89 Jan.
96 Sept.
58 Oct.
33 Aug.
35 Feb.
17 July
68 Dec.
52 Dec.
15 Nov.
58 Nov.
40 Aug.
11 le Dec.
4% Jan.
5 Aug.
8 Jan.
>4 June
320 Apr.
W Apr.
10 Vt Dec,
Big Dec.
S Jan.
12 Aug.
35 Aug.
80 Aug.
Highest.
164 Not.
116 "May
97 May
33 May
96 Not
1%N0T.
105 Dec.
4ie Jan.
34 14 Feb.
98 Feb.
6 Dec.
169 Deo.
32 1« May
10m Deo.
IOO14 Nov.
67 Deo.
75 Apr.
35 Feb.
30 Apr*
86'4 Apr.
52 Dec.
15 Not.
60 Feb.
72 Feb.
21>« June
7\ Not.
8''s Feb.
15 Mar.
4)« Jan.
340 June
2>s Not.
14 June
12>a Not.
8Te"NoT.
28 Not.
48 Apr.
101 Feb.
No pries Friday ; latest pries this week.
{ Actual sales.
KEW TOBK 8T0CK EXCHANGE PBICE8.— STUTff BONDS DECEMBER 31.
BEOUBITIS8.
Alabama-Olass A, 4 to S 1906
Q«mB, Ss 1906
OSm 0, 4s 1006
OarrencT fnndlng is 1920
Arkansas— 6s,fand,Hol.l899-1900
do. Nen-Holford
7i, Arkansas Central BB
Loolfllana— 7s,oons -.1814
Stamped 4s
■ew oonola. 4s 1914
Bid. Ask
104
104
96
93
96
8ECURITISB.
Mlasoorl— Fond 1804-1895
North OaroUna— 6b, old JAJ
Ponding act 1900
New bonds, JAJ 1892-1898
Chatham BR
Bpeolal tax, Class I
Consolidated is 1910
6« 1919
■oath Carolina— i>ai,90-i0.. 1933
6s. non-fund ......1888
Bid. Ask
102 >g
1-J2ia
10'.^ >s
!«•
BBOOBITIBa.
Tennessee— 6s, old 1892-1898
As, new bonds 1892-8-1900
do new series... 191i
Compromise, 3-i-S 6s 1912
Ss 1913
Bedemptlon is 1907
do 4>«B 1913
Penitentiary 4><8 1913
Virginia funded debt, 3-Ss...l991
6s, deferred t'st reo'ts, stamped
Bid. Ask.
77's
e2>«
6
sm
63
7
New York Oitr Baak Statement for the week ending
Dec. 26, 1896. We omit tao ciphers (00 J in all cases.
ilA.MVS.
(OOs omitted.)
Bank of New York.
Maoliattan Uo
lurohanta'
MachsDlos'
Amarlca
~"«nix
•men'<
Otwnnlcsl
Mtrehaou' Exeh'ge
atUailn
a^tohers' A DroVrs'
sohsnlos' A Trad's
arseowloh
Leather Manaf so'rs.
flbvenih
State of Mew York.
American Sxcbaage
Commerce
BnMflwaT.
MsreanUJe
Pacific
Bepublic
dv^th^m... .......
Stoples'
Sprth America. . .
HanoTsr
og
en«*
arket A Fnlion
> A Leather..
Com Exchange. .
OootlDeatal
OnlMital.
BMjprurs** Trad'ra
CY.Na-.aBxch'ge
Bowery
Kew Vork Oounty..
American..
Mfth Arenas
Qvrman Exchaafs..
Armanla
DUtsil autes
Upcoln
Sj-nslrt
flfih
nkof thsKsUos.
St olds.
ard
rsrtem.'.'.'.'.'.'.T."..'.'..
nratNac. B-klyn...
Iftt. Union Bank...
nbertr Nat. Baak..
IT. T.Prod.Eioh'gs.
Total..
Capital Surpl's Loans. Specie. Legale. Deposits.
I
•2,000,0 SI,
2,0SO,O, 2,
2,000,0
2,000,0 2,
1,600.0 ■
1,000.0
1,000,0
7S0,0
300,0
600.0
1,000,0
300,0
400,0
200.0
600,0
800,0
1,300,0
S,000,0
5,000.0
1,000,0
1,000.0
422,7
1,600,0
460.0
300,0
700,0
1,000,0
600.0
600,0
600.0
900,0
1.000,0
1,000,0
1,000,0
300.0
1,600,0
2,000.0
260.0
3,200,0
2,000,0
300.0
760.0
600.0
1,000.0
300,0
2SO.0
200.0
760.0
600,0
100,0
300,0
300,0
600,0
S00,0
300,0
300,0
300,0
900.0
600,0
900,0
3,100,0
800,0
1,300,0
600,0
1.000.0
7,
853,6
146,2
998,7
,167.2
,608.4
347.6
,667,6
80,7
,434,9
175,1
,624.6
309,6
278,6
168.4
492,4
97,3
600,9
,527,6
,589,7
,698,8
978,6
482.6
868.9
967,8
335,7
683,0
,063,7
346,1
381,8
278.8
.011.6
100.9
,392,0
330,7
406,8
,600.3
,212,4
137,7
,040,6
618.8
644.8
333,9
208,6
244.3
68,0
801.6
428.0
293.0
,446,2
,087.6
606,6
679.9
634.8
617,3
700,8
808,4
803,3
333.4
379,6
399,9
86X7
93X6
638,3
230,7
318,1
I
*12,400,0
13.202.0
lu.uoe.o
8,616.0
17, 302,8
4.071,0
22. 786.5
2,039.6
32,955.3
4.377.3
6,314,4
1,290,6
1.870,0
926,3
3,995,8
1.420,3
3,474.7
23,068,0
23,369,8
6.697.6
7,696,6
2,278,1
1 1.U87.4
6,8»0,e
1.644,2
6,776.2
J 7,399,3
2.8.M,0
2,639,0
2,181,9
6,734.4
3.339,2
8,963.0
4,829,7
1,763,0
22.483,0
24,130,6
1.148,8
30,240,4
8,681,0
4.576.0
3.030.4
22,768.4
7,803,7
1.310,2
2.861,0
3,491,8
2.638,6
16,686,2
6,969,0
3,468,6
3,296,6
6,200,4
6,470,6
3,663,5
1,696.3
4,328.4
2.078,0
6,797,0
1.666,0
12.807,0
6.166,0
9,047,7
2,380.6
3.54!).7
S2,070,0
2,627,0
2,668,3
1,117,0
2.296.2
285.0
6,000,9
221,4
3,601,0
812,7
659,3
163,6
266,0
110,4
335,6
233,0
317,6
1,619,0
1.963,3
688.3
735,1
422.6
2,298.2
656.9
244,4
875,0
4,810,7
236,8
482,3
190,.1
680.3
425.4
1,362.0
666.0
147,0
3,161,0
6,670,0
150.8
2,719.9
1,228.0
882.0
360.4
3,403.2
1.470,0
126.9
418.0
666.9
208.2
3,861.4
1.314.9
383.4
614.3
L068.9
821,9
832.7
302.5
796.2
178.0
743,0
163,0
836,4
622,3
1,484,2
386,8
8119,8
Sl,240,0
2,887,0
1,701,0
1,130,0
3,393,6
693.0
3,614,6
637,2
4,116.8
366.4
960,9
276,6
496,0
216,1
1,060,8
208,6
352,6
4,633,0
3,741,2
424,7
1,792.6
633.5
1,611.3
1,362.8
769,2
485,8
2,747,0
600,1
397,6
671,4
821,6
481,9
1,308,0
982,4
442,4
6,318,0
6,880,0
3B2.3
3.229.0
3.485.0
776,0
1,338,2
3,407.9
1,191,2
187,0
773,0
287.2
428.0
2,994.6
755.8
684,7
446.3
830,5
1,171.0
604.0
223.4
907.9
875.0
l.al.'i.O
216,0
3,887.0
963,2
694,0
339.0
178.9
$12,030,0
15,687.0
12.B10.1
7.205.0
20,239,2
3,767.0
26,673,6
1,864.7
23,111.0
4,77«,1
5,002,3
1,383,2
2,180,0
912,3
3,225,9
1,7««,0
2.701,8
18.491,0
17,671,4
4.555.8
7.850.5
2,829,8
12.927.6
6,141.6
2,701,3
6,737,8
22,241.6
2,720.0
3,120,0
2,786,3
5.523.0
3,460.4
10,165.7
6,648,2
1,760,0
26.045,0
32,451,0
1.313.8
21.278,5
11.146.0
6.408.0
4.038,0
32.857.3
8,774,6
1,186,5
3,437,0
3,076,2
2.383,8
19,979.7
7,573,9
3,175,4
4,169,8
6.010.6
6,366.7
4,572,5
1.601.:!
6,536.4
3.125.0
7.087.0
1,376,0
13.207,3
6,461,0
8,527.2
2.374,3
2,931,4
. ao.773,T 73,886,4 487,673,3 76,768,0' 89.001,2 636.837.2
New York City, Boston and Philadelphia Banks:
BANSS.
N. y.~
Not. 28..
Dec. 6..
•• 12..
■ 19
•• 26..
Bas.'
Deo. 12..
" 19..
" 28..
Phll>.«
Dec. 12..
" 19..
'■ 26..
IiOOM.
Surplut.
9 9
134,521.4 463.818.2
134.521,4!472,441,8
134,521.4 48;),603.5
134,658.1 487.016,0
1.34.658.1 487,073,3
89.361,8 168.877,0
69,361.81166.093,0
69,361,81164,860
35,263,0 100,690,0
3.'i.263.0l 100,358.0
35.2li:).0 I00,40i».0
SpecU.
76.613,0
75,676.9
76.648,1
77,251,6
76,768,0
$
77,457,2
82,299.0
84.109,5
D»poslU.-i OtreTn aitarints
490,634,
502,046,
516,605,
86,920,1! 523,589,
89,001.2 523,837
9,843,01 7.972.0154.859
10,444.01 8,261.0 155,B5U,
10,402,0| 8,572,0 151,681,
30,936,0
31,479,0
29.1570.0
$
20,218,0
19,997,7
19.841,3
;9 19.797,1
,2jl9,760,0
Oi 10.061.0
10.076,0
9,963,0
100,850,
101,547,
99.426.
6,999.0
6,965,0
7,040,0
9
568,662,9
681.863,0
576.340,3
623,405,2
489,251,3
98.179,8
94.810.7
74,963,3
66,623.6
63,093.6
61,353,3
* iDoludtng for Bostua and Philadelphia the Item "das to other banks".
Migcellaneoas and Unlisted Bonds:
MIscellaneone Bonds.
Amer. BplrlU lire., 1st es..
Br'klyn Un. Oas,Itt eons. 6s.
Ch. Jon. A 8. YaB.-0ol.t.g.,6«
Colorado O A I. lit couii.6s,g
CoLO. A I.Devel. go. &ii
Colorado Knel A I.— Oen. 6s.
OoL* Hock. Coal A I.— 6a, (.
Oaas.aasO*.,ciilo.— lstca.6s
Consol. Coal conr. 6a
Dst. <Jss con. Itt 6.....
Edison Eleo. III. Co.— 1st ts..
Do. of Rklyn., lat 6s..
Xqnlt. O.L.. N. Y.,coni. g.6s.
Bqnltabls li. A F.— lat u>....
HendsTMn BrKlge— Ut g. 6s.
IlllDots Steel deb. 6s
Non.eoDT.dsb. 6a
73Hib.
105^b.
75 b.
96 b
110 k.
MlKOellaneoaa Bends.
(nl. Cond. A Ids. deb. 6a...
.Manbat. Beach H. A L. g. 4a.
.Metropol. Tel. A Tel. 1st 6a
Mloh.'PenlD. C<kr lat 58.....
MDlaal Union Teleg.— 88. f..
Nat. atarch Mfg. lat 6a
N.Y. <k N. J. Telep. gen. 6»..
Nvthwestern Telegraph— 78
People's Uaa A 0. 1 l»t g, 6s.
Co., Chloago (2d g. 68.
lat conn. g. 6a
Standard Rope A T. latg.6s
Incotse 5s -..
Snnilay creak Coal iKig 68.
U. a. Leather— 8.t. deb.,g.,68.
Weatsm Union Telsg.— 78...
Whsel.L.B.ckPitta.Coal lat6a
93 b.
110 a.
103 b.
100 b.
74 "ab.
25 b.
67>4a.
Note.— "I>" ludlcatea price tM; "a" price tukid. • Latest price thla week.
Bank Stock List— Latest prices this week. (*Not Listed.'
BANKS. Bid. Aak.
America...
Am. Kxch
Bowsry"
Brosdway....
Butch. •ftUr..
Central
Chase
Chatham
Chemical;
City
ClUzrns'
Colnmbla
Commerce . . .
Continental .
ComExoh...
East Blrer..
nth Ward..
Fifth ATS....
fifth'
First
FtrstN.,S. I.
141h Street..
Fonrlft
9aU 'n
315
171
1390
na
126
125
350
295
4000
500
125
175
200
130
286
126
200
2800
250
2500
120
176"
1300
330
173
235
135
135
305"
4300
204
140
295
376
160
176
186
316
BANKS.
Garfield.
German Am.
German Ex*
Germanla...
Greenwich...
Hanover
Hurt. Blrer..
Im.&Trad'rn
Irrlng
Leather Mfs'
Liberty
Lincoln
Manhattan...
Markets Fnl
Uechanlca'.
It'oha' <&Tra'
Mercantlls...
Merchant.' ..
Meroh't. Ex.
Metropol 'a...
M«. Morrla..
Naasaa
N. Ama'<lam.
Bid. Aak.
400
108
S60'
165
315
155
630
140
170
125
750
206
216
185
130
170
133
110
425
100
153
195
Nsw York... 1230
540
160
776
215
225
195
136
is'r'
236
BANKS.
N. Y. Co'nty
N.Y.Nat.Ex
Ninth
19th Ward..
N. America.
Oriental
Paolflc
Park
People's
Phenlx
Prod. Ex.*.. .
Rspnbllc...
Seaboard
-<ecoud
SeTsntb
Shoe A Le'th
Btateot N.Y.
Third
Tradeam'n's.
Union
Union Sq
Un'd States
Western....
WeatSlde..
Bid. Ask.
660
lib'
100
130
176
170
266
ib7"
116
145
168
425
100
90
108
100
93
190
180
176
114
276
265
260
109
,66"
.76
94
110
103%
96
200"
iif-
84
THE ('HRONICLE.
[Vol. uov.
■(HrOX, PHH.iU8LPrtl4 tND BiLTIMQBK STOCK KXCIlANttES.
I — ••* r«r OcataM Pri««a.
IM
1' - . MS
- too
> IM
•iu.1 - »0
t>% U%1 U% 1*
••»*; —
17S l«
•10 .....
71^ 7J>*
S0% SO't
109% 110
•7H 9
i>eo. SO.
Ml ISH
•tl>t 31<«
177 177
• m 51%
itH i;s
67 07
9S »'»
1O0H ItOH
101 101
tio tie
M tSi*^
• H 7
•M ...,~
■21 t7^
■"•I" •«
■St% 31
•70 71
40>« «1
•»0«» «0%
41li 41
'101 loa
"tT* "71
4l>t 41>t
•I'i t
M3>« U
•t3>« t3
177 177
»IS &t%
• •
110>«UOH
100<t 101
sio sio>t
92% 03 >•
•S 7
tti S'iS
•5« ..-,
•60 >• 60'«
64% 6%
33>« 31<«
OS 72 ■«
401* 40>«
•20>« 30%
•41 41it
103 108
72*' 7i'
■"•■*% "'i\
T BMton Ml
Thw*d»r>
U 14
1T\ 17H
900 909
90S •••07
163 l«l
•10 ..^^
•06 ,
•»\ TOH
73 73H
93 «« 94
90% 31
"•7% "T
"90" "60*
•32% 23 >t
177 177
51% 51%
1S>« 13>|«
66% 67
B 9>«
9% 9%
•16
•61 If
•17H
•17%
17
62
17%
17%
110
100%
210
l>S>«
6%
'323
"ioH
37%
30
6S
33%
•71
40
•20%
41
102
13%
72%
42
•I's
eKram
111%
100%
310
95
6%
340
'60%
27%
80
65%
33%
75
40
30%
41
102
13%
72%
43
3%
not
73
7%
•20
"so%
10*%
73%
7%
34
30%
109
•«S 70
•13% 14%
22'* 32%
si'% "5"%
13% 137,,
69% 87
"9% "9%
•55 6S
•40% 61%
84 28
30 30
41 41
"is** '13%
73% 72%
reoelTel.
riidv.
OoeTib.
of Uia
Week,
ObarM.
O
<4
a»Mf of ulM In 18B«.
LOWMU
8% A.ai5. 7
% S«pt. 14
11% Sept. 2
60 Jul7 3a
14% AllK. 10
14% Auk. 10
200 Auk- 4
200 AiiK. 10
149 Auk. 11
10 Mar. 31
5i%Julj 10
53% Auk. 7
60 Auk- 10
4 Auk. 8
14% AUK. 14
84% Auk- 14
27% Aug. 27
78% Aug. 7
6% Auk. 6
35 Auk- 1
55 Aug. 12
63% Oct. 36
% May 25
9% Apr. 17
170 Sept 23
49% Aug. 27
l%Jan. 10
57% Aug. 10
3 Jan. 23
9%Dd<]. 18
1,533
H>
6?0
tfl'i
11
— g-J
17.043
5.525
■"VJ
374
675
5
'Too
"925
10
76
1,533
37,943
1,877
36
1,458
7,018 95% Aug. 8
109 93% Aug. 10
33 i 195 JiUr 39
4,731 65 Jan. 7
3,510 l%Mar. 7
39 295 Jan. 3
..~>l 64 June 18
376 55% Jan. 20
3051 80 Aug. 10
120; 22 Aug. 8
1B5 51% Aug. 10
1,085 21 JulJ- 16
143 SO Jan. 8
445 33 Aug. 31
15% Aug 12
45 34 Aug. 3
200 87% Jan. 2J
105 9 Jan. 7
391 5S% Aug. 1«
33 84% July 18
I 1% Auk. 10
t Trust reo.,aU Inatal.
.89
1
. !•
84
88
8»
14
13
HI«kMt.
17% Feb. 8€
% Nut. 89
44% Jan. ~~
70 . Jan.
19% Apr.
19 Apr.
817 Jan. St
809 Jttos 1
171 Feb. 1*
13 Nor. 7
58 Sur. 10
83% Nor. 10
79% June 17
12% Jan. »
30 Jan. I
07 Feb. 10
38% Jan. M
112% Nor. "
13% Feb.
51 Jan.
85 Jan.
70 Feb.
: 17 Nor.
128% Nor. 11
180 Nor. lO'
54% Apr. 38
(16 Nov. 4
72% May 5
13% Nor. »
30 May IS
136% Apr. 81
105% June 1*
ail Oeo. IS
96% Nor. 18
13% Jan. 81
835 Nor. IT
64 June 18
67 Nor. IS
86% Apr. 15
38 Apr. 16
66% I)eo 7
89% Mar. 18
78 Apr. 14
75 Apr. 16
23 Deo. 7
46% Feb. S
103 Deo. 18
16 NOT. 4
81% Jan. S
67 Feb. 17
2% Feb. 14
paid.
.««■ ef Dinmktr 81.
_ * CWmm (ABl(.i.l^
I * rie ■ ! «—»« tJMlM>.l<
mMAUm»tt»fL{/*1m.t. U
"50,
•• 50
I owe (Saai 50
• * Wert Mlefc-tJ 11. 100
■MA ram.. - 100
■tUrer.... - lOo!
.'nMi«(vj.i(rMta.i.ioo{
mmMMamMBt. - 100,
I* r^M Hit— <» n »i«i.ioo
« 100
.....7... - so!
IlAM—i.(*iiIi 11.100
•• 10*1
.iFMIc). 50'
„^(>iiliaj 100
)UmA».Ui,n9Ut%tU.) 50
|Tal... - SO
t o».. - 100;
a*ll.w7rl>Mia.i. SO
. " 50i
,.rMM>.iM^
rMti.iMJ
r - so
a«J««9lAAtUa. ■• 50
.Mfmrn " lOO;
,./» n i m .ioo,
ISO'
100:
84%
117
Bond*.
Btd. Aak.
'B*MMDaltedOa§,a<lm. 5e..l989i 69
|B«i1.*ICe.BtrerBxenpt 6e, JAJ {116
■o»«SMBpt6a. 1918, JAJI105
Plata 4a..'. 1910,J&Ji} 95
Okie. BnrL A Nor. lit 5,1986, AAO 103
td mort. 6e 1918, JAD 99
Oebeatore 6e 1896,J*D§98
Ckle.Bari.*()nlnoy4i 1933, FAA! 93
lOwaDinalonU 1919, A&0!) 95
OUe.AW.Kleh. gen. 5«, 1931, J*D
OoaaoL of TenaoBt.5e.1913, JAJ
Oonaot Blrw,lat,5e..l937, AAO
Det. Laaa.ARofBM. 71.1907, JAJ
iBatera Ut mort 6 g.l906,MM..
»T«e.Elk.*M.T.,l(t,6a.l938, end.
I Dnalemped. 1st, 6«, 1933
X.C C* 8prtn«.,Ut,SK.,1935,AAO
K a P.8.*M. eon. 6*, 1938, MAN
K.Q. MaoL * Btr. Jit,8e,1937, MAS
K.O. St. Jo. AO. B., 7I..1007, JAJ
L.BoekArt 8., lit, 7t.. 1900, JAJ
LonlB..BT.A8t.ll,lit,6g.l98e.A.AO
8m..»-6 > 1986, AAO
Mar. B. A Ont.,6a 1935. A.AO
MeUeaD Central,4g... 1911, JAJ
liteonaoUBOomaa, 8 K, n(ni.eaB.
16 / 84 oonaoL Inoomee. 3(, non-ena.
— ~ H. T.AII.Kng„llt,7l,1906,JAJ'}117
17 I lit mort. 6a 1905,JAJ 110%
l%,O(dan.AL.a,0on.6e...l930.AA0 85
70 Iae.6a...... „.^..1930 ....c
...~ Bai tUnd. lat,6a 190S,MAIT 104
rid. Se 1898,rAA I 95
•5 I BpndB.-PhjIadelthiB
80% Atlaatloaty lat i», n.. 19107MA1I 104
.... I BoOlklo Ry. eon. Ill, &■ 1931
47%, CMBWtaaa, M.,7« 1900, FAA
OlMe. Okla. A Oolf, prior Hen 6a..
gitltena' Bt.Ry.of lod..oonJie.l933
Ootamb. Bt. Rr., lit, oca. 5I..1983
Celainb. O. Oroantown, UI,5«.1B38
OoaMil. Traet. of N. J., ltt,5«.1933
lOel. A B-d Br-k, Itt, 7a. 1905,PAA
l>Mton A Am. lttM.,3*.I980,HAM
»•• nee. A People'! Trao. aiock. tr. otf •
S% KllBlr. AWrim.,l»t.6a.l910,JAJ.
4%, Uealonnile M. A F.. eon. 5a..l924
Bant. A Br'dTop,Oon.5a.'95,AAO
Liekl^h ■ar.4%a 1914. ^-^
Did...... 1897,/AD
mort.4%4, g.l934,Q— F
•w.
•4 6a, (Old......
Oeaer«lmort.4%4,g.l934,Q-:
LsUch VaLOoal 1«( 5«,K. 1983 JAJ
' " ' TaUey, l<te«...1898,JAD
.... 1910,MA8
Oon».»1.6 1923,JAD 114
Newark Paii»«n(r<r. oon. 5ii...l930 107
BondB,
Bid. Aak.
83
aertkPann. lai, 4t....l036,_^.,.
OeB.II. 7a ... 1908, JAJ
TBtenoB Railway, oonaoL 6a......
riMBaylraala gea .8«, r.lBlO, Yar
OoBi a l.Be.e 1905, Var
Oo«aoL5e,t 1919, Var
48%' Fa. AN. T. nanal,7i... (>6.JAI>
85 I O—.Se. 1HS9 AAO
1 OalMBd. « And aeoraed Inteteek
People'* iTac. irastoerta. 4s..l943
PerUomen, lat ■er.,5*. 1918, Q-J
PliUa.AErlegen.M.5K.,1930,AAO
Gen. mort, 4 g 1920, AAO
PbUa A R<Mkd. new 4 g., 1958, JAJ
lit pref. Inoome, 5 g, 1958, Feb 1
8d pref. Inoome, 5 g, 1953, Feb. 1
8d pref. Inoome, 5 g, 1958,Feb. 1
8d, 5».._ 1933, AAO
Oonaol. mort. 7b 1911, JAD
Ooniol. mort. 6 g 1911, JAD
ImprorementH.6 g.. 1897, AAO
Oon. H.,5 g.,atamped,1932, M AN
Terminal 5», g....~1941. Q.-F.
PhlU WUm. A UJt., 48.1917, AAO
Pitta, a A Bt. L., 7a....l900, FAA
Boobekter Railway, oon. 5a ..1930
8obnyl.B.E.aide,lat5 g.l935. JAD
Union Terminal 1st 58.....mFAA
Bond*.— BaltimQrB,„„, ,^
AtlantaACtiarr.lBt 7s, 1907, JA.,
Baltimore Belt, lat, 5a. 1990, MAN
Bait. CPaaa. lat 5H... 1911. MAN
Bait. TraoMon, lat 5a. .1929, MAN
Ezten. A Impt. 6a. 1901, MAS
No. Bait. Dlr., 5s 1942, JAO
Baltimore A Ohio 4 g., 1935, AAO
Pitta. AOonn., 5 K.-..1925, FAA
BUten Iiland. 3<1. 5 K.1926, JAJ
Reoeirera' oertiQoatos —
Bal.AObloB.W.,lat,4%g.l990,JAJ
OapeF.ATad.,8er.A.,6g.l9l6, JAD
OBnt.Oblo,4%K 1930, MAS
OMit. Paee., l*t 5e 1932, MAN
City A Bnb., let 5e 1922, JAD
OharLOol.AAag.ert.5a.19lO, JAJ
Ool. A areenvTlat 5.6a. 1917, JAJ
Georgia A Ala.,latpf. 5a.l945,AAO
aa.Oar. A Nor. let 5 g..l929, JAJ
Georgia Pan., lat 5.6a... 1923, JAJ
Oeor. 80. A Fla., lat 5«.. 1945, JAJ
North. Oent. 6a....... ...1900, JAJ
6a _ 1904, JAJ
Berlea A, 5« ....1936, JAJ
4%a .........1925, AAO
Pledm.AOam..lat, 5g.l9ll, FAA
Pitta. AOonnella. lat 7a. 1898, JAJ
Boathem, lat 5a 1994, JAJ
Tirglnia Hid., lat »a...l906. MAS
adBerleB,6a 1911 MAS
8d Bertea, 6a..........l9lt!, MAh
4th Bertea, 8-4-5a 1921, MAS
5th Beriaa, 5a 1926, MAS
WeetTa O.AP.lBt,6g.l91l, JA.I
Wef f I. N.O. OonaoL 6 g.l9*.4, JA.'
WllB. Ool. A Aug., 6a..l9i0, JAD
HlaOBLI.AllBOUa.
Balttmore Water 5*... 1916, MAN
Fnndinc Se..... 1916, MAN
Kzohange Slae ..1930, JAJ
Ylrglnia (State) 8a , new. 1932, JAJ
Funded debt, 3-3a 1991, JAJ
OheaapeaKaGaa. 61. .„ .1900, JAD
Oonaol. Qaa, 6b...... ...1910, JAD
Sa ...... .1939 .T At
I 110% 117
106
123% 123
122 ;i23
104% 105
72%l 78
61 %l 68
105% ....«
114 |115
103 107
Januart 2, 1867. J
THE CHRONICLE.
36
NEW YOBK STOCK EXCHANejE PRICES {Contlnnoi)— ACTIVE BOyoS DEOEMBER 31 4iVZ) FOR YEAR 1896.
Railroad amd
UiaoBixAjiBOUs Boms.
Inftt
Period
Amer. Cotton OU. deb.,8g.l90O
Ajui Arbor.— l8t, 48, g 199o
At.T. AS.F.— New gen. 48.1995
Adjustment 48 1995
OoL Midland— Oon8.,4g. 1940
AtL A Pao.— Goar. 48 1937
B'way&7thAv.-l8t.oon.g.5s'43
Brooklyn Elev. lat, 6g....l924
Union Elevated.— 6g 1937
BTdynWhrtAW.H— l8t,58,g.'45
Canada 8oaUiem.— let, 58,1908
ad,58. 1913
Osntral of N. J.— Oon8.,78,1899
OonsoL, 7» 1902
Oeneral mortgage, 5g...l987
Leli.4 W. B. ,oon. ,78,a8'd. 1900
" mortgai?e58.1912
Am. Dock A Imp., 58. ...1921
Oentral PacUc-Oold, 68.1898
tSiM. <k Ohio.— Ser. A, 6g..l908
Mortgage, 6 g 1911
l8toon8ol.,5g. 1939
General 4>s8, g 1992
B. A A. Dlv., letoon., 4g.l989
2d con., 4g.. 1989
EUx. Lex. A Big. 8an.,5g.l»02
Chic Burl. 4 Q. Con. 78.1903
Debenture, 5». 1913
OouTertlble 5i 1903
Denver Olvlalen 48 1922
Nebra«ka Extension, 48.1927 ., . ,
_H«n.4Bt. Jo8.— CODB.68.1911 M A S
J (X X)
A A O
M4 N
MA N
J A J
A
A
A
A
A
A A O
Nov.
F A A
J A D
A A O
MAN
F A A
J A J
MA S
MAN
J A J
»— M
MA N
J A J
J A J
A A O
A A O
MA N
MA 8
J A
J A
MA
J A
MA N
MA S
F A A
MAN
'€hlo. A E. m.— l8t,8. t. 68.1907
Oonsol. 6g 1934
Oeneral oonsot., Ist 58.. 1937
OUcagoA Erie.— l8t,5g.. 1982
•Ohio. Gas L. AC— l8t, 5g. . 1937
Ohio. MU.A St. P.— Con.78. 1905 ,
1st, Southwest Dlv., 6s. .1909 J
l8t,8o. Minn. Dlv., 68. .1910 J
l8t,Ch.A Pac.W.Dly.58..1921 J
Chlc.AMo.Rlv.Dlv..58..1926 J - -
Wise. A Minn., Dlv ,5g...l921 J A J
Terminal, 5g 1914 J A J
Gen. M., 4B.,serle8A....1989 J A J
Mil. A Nor.— lBt,oon.,68.1913 J A D
Ohio. AN. W.— Con8ol.,78.1915 Q-F
Coupon, gold, 78 1902
Blnldngfnnd, 6a 1929
Blnklng fond. 5s 1929
BlnUng fund, deben.. 58.1933
S6-Te*r debenture, 5s... 1900
Bxtnislon, 4s 1926
Ohio. R.I. A Pao.— 68,ooup. 1917
Extension and ooL , 5s . . . 1 934
80-year debenture, Ss... 1921
Ohio. Bt. P. M. A O. -68. ..1930
CUo.AW.Ind.— Oen.,g.,6e.l932
Olev. Lor. A WheeL— 5s...l933
a 0. C. Al.-O0BSOl.7g ...1914
Geaeraloonaol., 68 1934
a0.0 ABUL.- Peo.AK,4s.l940
Income, is 1990
Ck>L A9th Ave. gu. 5s, g..l993
OoLH.VaLAToi.— Oon.,5g.l931
General, 6g 1904
Denv. A RloOr.— Ist,7s,g.l900
lstoon8oL,4g 1936
DuL 80. 8h. A AtL— 5g... .1937
BdlBOn El. Ill.-lst,con.g.5s.'95
Brie— 4, g, prior bonds.... 1996
OenerdL 3-4 . g 1996
ft. W. A Den. City.— 4-6 g.l921
OaLH. ASan. A n-M. AP.D^st,SK
Oen. Eleotrie.deb. &s,r...l922
Hoas.AT. Cent.gen.4s,g.l921
Dllnols Central.— 4s. g 19.53
Western Lines, Ist, 4s, g. 1951
Int-AMreatNor.— l8t,68,g 1919
2d, 4-58 1909
Iowa Central.— lst,5g. ...1938
Xlnn Co. Elev.— l8t,5g.. 1925
LaelMs Oas.-l8t, 58,g...l9l9
Lake Erie A West.— 5g.... 1937
L. Shore. —Con.op., 1st. 7s. 1900
Consol. ooup.,2d, 7s. 1903
Lex. At. APav.F.gu. 58,g.l993
Long laland.— l8toon.,Sg.l931
General mortgage, 4g... 1938
tools. A Nash.— Cons. 7s.. 1808
M.O AMebUe, l8t,eg...l930
" - 2<1.6g.. 1930
General, 6g.„,... 1930
Unlfled,4g 1940
IiOilla,N. A. ACb.— Ist,es.l910
Consol., 6g 1916
Manhattan oonsoLis 1090
Metro. Elevated.- Ist, 6g.l908
2<l,6s... 1899
Mloh. Cent.— Ist,'oons.',7s.'l902
OonsoL, 5s 1902
MlLLakeSh.* W.-lst,6g.l921
Exten. A Imp., Sg 1929 F A A
Ml]ui.A8t.L.— IstooD..')8,g.l034 MAM
Mo.K.AE.-lst5s,g.,ga..l942A A O
■C.K.*Texaa.-lat,4£g.l990 J AD
«d,4s, g 1990iF A A
Oiotina
Price
Dee. 31.
107 b.
74iab.
79i«
43
"t 20\a.
i'lfi^"
* 74>«b.
74 a.
99 1«
llO^e
105 i^a.
106 b.
113 b.
118>sa.
103 b.
J"A D
A A O
A AO
MAN
MAN
F A A
J A J
J A J
MA S
J A D
.Q-M
A A O
J A D
J A J
A A O
AprlL
MA 8
MA a
J A D
MAN
J A J
' A
A
A
A
J A D
MAN
J A D
A A U
MAN
F A A
MAN
MA S
J A D
J A J
Q-F
J A J
J A J
J A D
MA S
Q-J
J A D
A A O
J A J
A J
AD
A J
A J
A A O
A A O
J A J
MAN
MAN
MAN
MAN
116\b
10319b
118 b,
118 b.
108
73
98 b.
88 a
99 b.
11838
98 a
100 "a
934ib.
87 lab,
118 b.
112
124isa.
98 b,
109Hb.
9514
130 b.
117 b.
II8I9
114^
109
111 b.
•Ill b.
97'«
116 b.
13919b.
115^b.
114 b.
108 b.
Ill
106 b.
100 b.
131 b.
104^
92 b.
127
115
103
130
120
73
10
116
88
85 b.
110 b.
90 4|
102 19
106 '8
95%
6419b.
52 b.
89 b.
91
64 b.
101 a.
•101i«b.
115 b.
71 b.
96
45 b.
93
Range (talee) in 1896
LovoetL BighetU
114 b.
118>9b.
116>«b.
118 b.
78 Si
104 b.
118 b.
103 a.
116 b.
80
112 b.
80 b.
94 b.
119 b.
105
113 b.
108
'l:)0 b.
112 b.
99^
91 b.
81%
60 19
102% Aug.
63 Aug.
68 14 Aug.
28 14 Aug
116 Sept.
39 Deo.
lOg'B Aug.
71 Sept.
70 Sept.
90 Aug.
105 Aug.
98 Sept.
10319 Aug.
11519 Feb.
110 Aug.
101 19 Aug.
90 Apr.
108 Aug.
99 Oct.
111 Aujc.
II4I9 Apr.
100 July
65 Aug.
90 Aug.
75 Aug.
95 Aug.
110 Aug.
85 July
93 Aug.
8714 Aug.
80 Aug.
109 <9 Sept.
110 Aug.
118 Aug.
96 Oct.
IOII9 Aug.
82 Sept.
119 Aug.
106 Aug.
110 Aug.
108 Aug.
102 19 Aug.
103 Aug.
105 Aug.
91 19 Aug.
115 Sept.
I29I9 Aug.
115 Aug.
IO6I9 Aug.
104i9Aug.
104% Sept.
103 Jan.
98 Sept.
1 1919 Aug.
9419 Aug.
874 Sept.
117 July
113 Sept.
102 Aug.
119 Jan.
124 Sept.
60 Aug.
10 Aug.
100 Aug.
80 Aug.
80 Jan.
110 Deo.
83 Jan.
9219 July
07% Jan.
88 Aug.
5419 Aug.
50 •« Dec.
8919 Nov.
82 Sept.
66 Nov.
90 Jan.
97 Aug.
114 July
66 Nor.
87 Aug.
37>a Sept.
85 Aug.
110 Aug.
108 Aug.
II3I9 Sept.
109 Aug. I
117>t Jan.
75 Deo.
101 >9 Oct.
112 Oct.
96 Aug.
110 Sept
68>9Ang.
102 19 Sept.
74 Aug.
88 Aug.
IIII9 Aug.
101 Aug.
111 Aug.
108 July
133 Aug.
104 Ang.
0« Aug.
51 Aug.
75«t Aug.
44 Aug.
llli9Jan.
7419 Not.
8II9 Feb.
511a Feb.
127 Feb.
80 Apr
II8I4 Nov.
102 Jan.
IOUI9 Jan.
lOlia Nor.
llO'a June
107 Feb.
IIOI9 Mar.
120 Apr.
120 June
106 Feb.
92% Mar.
11619 Dec.
104 May
119 July
119 Nov.
111% Apr.
781* Feb.
99% Deo.
88 June
IO2I9 Feb.
120 June
101 19 Apr.
1041* Feb.
95% June
9119 Feb.
llSi^Jan.
II719 May
127 June
10219 Apr.
112 Feb.
9514 Deo.
13219 June
118 May
II8I9 June
II519 June
111 June
1121* Mar.
114 June
98 June
119 May
141 Jan.
120 May
116 Mar.
Ill Mar.
111% Apr.
107 Apr.
10219 Apr.
131i» Dec.
106 June
97% Feb.
129 May
11819 Feb.
10714 Mar.
13419 May
137 May
80 Jan.
33 Jan.
117 Deo.
00 Feb.
01 Nov.
114 Anr.
92 May
10213 Dec.
106"e Deo.
9638 Dec.
67 Apr.
55 Deo.
03 Jan.
04 Nov.
71 Apr.
102 Feb.
103 »8 July
11819 Apr.
77 19 Feb.
100 Nov.
71 Jan.
96 Jan.
117^8 June
115 Jan.
120<>8 Mar.
117 Di*.
120 Feb.
98 Jan.
lOSig Mar.
119 Feb.
102i« May
117TgApr.
80% Feb.
114 June
108 Feb.
99 >e Mar.
1201* June
108 Apr.
119 Jan.
108 14 Feb.
132% Apr.
11519 May
IO314 Apr.
04 Feb.
87 Feb.
6319 Feb.
RAn.ROAD AKD
MlSCELLANSOUS BOKDS.
2hf»<
Period
Mo. Pao.— l8t,oon.,6g 1920'M A K
3d, 78 1906'M A N
Pao. of Mo.-l8t,ei.,4g.l938F A A
2dert. 58 1938 J A J
St.L.AIr.Mt.l8text.,58.1897F A A
MAN
J A D
A A O
J AD
MA 8
J A J
A A O
MAN
J A J
2d, 7g 1897
Cairo Ark. A Texas, 7g.l897
Gen. K'y Aland gr.,5g.l931
MobUeAOhlo— N6w6g ...1927
Oeneral mortgage, 48. 1938
Nash. Ch. A8t.L.— Ist, 7s. .1913
Consol., 5g 1928
N. Y. Central— Debtext.48. 1905
Ist, ooupon, 78 1903,,
Deben.,58,ooup., 1884. .190-1 MA S
N. Y. A Harlem, 78, reg. . 1900 M A N
K.W.AOgd., consols, 58.192-2 A. A O
WestShore, guar., 48....2361 J A J
N. Y. Chio. A St. L.— 4 g...l937 4^ A O
N.Y.Laok.AW.— l8t,§8..1921 J A J
Construction, 5a. 1923 FA a
N.Y.L.E.AW.— l8t,oou.,7g.l920 MAS
Long Dock, oonsol., 6 g.l935 A A O
N.Y. N. H. A H.-Con. deli. otfs. A A O
N.Y. Out. A W.— Ref. 48, K.1992 MAS
Consol., l8t, 58, g .M939 J A D
N.Y.Sus.AW.l8tref.,58, g.l937 J A J
Mjdlandof N. J., 68, g...l910A A O
Norf.AW.— 100-year, 58,g. 1990 J A J
No.Paolflo— let, coup. eg.l921 J A J
Do. J. P. M. A Co. eertfs \—:"a
General, 2d, coup., 6 g..l933 A A O
General, 3d, coup., 6 g.,1937 J A D
Consol. mortgage, 5 g...l989 J A D
Col. trust gold notes, 68.1898 MAN
Ohio. A N. Pao., Ist. 5 g..l940 A A O
Seat. L. 8. A E., l8t.,gu.6.1931 F A A
No.PacRy.- P'rlieu ry.Al.g.43 Q— J
General lieu 38 when issued. Q — F
No. Pao. A Mont.— 6g 1938 MA 8
No. PaolfloTer. Go— 6g....l938 J A J
Ohio A Miss.— Oon.s.f., 78.1898 J A J
Ohio Southern— 1st, 6 g...l921 J A D
Oeneral mortgage, 4 g..l921 MAN
Oregonlmpr. Co.— lBt6g..l910 J AD
ConsoL.Sg 1939 A A O
Ore.B.ANav. Co.- 1st, 6g.l909J A J
Oloeina
Price
Dee. 31
85 b.
100 b.
10019a.
103 b-
102 b.
lOlSgb.
99 a.
7519a.
118 a.
67 19
129%b.
99isb.
101 la
121
105
llUlb.
lieiab.
IO714
103 lab.
133 b.
113 b.
*139 b.
133
'136iaa.
8819b.
108 b.
103 14
118 b.
65 a.
1161a
Sange ftaleej in 1896^
iMWett,
78
99
98
102
95
July
Sept.
Oct.
Nov.
Aug.
Sigheet.
t 5414b.
Ore.RR.ANav.oon80l.,4g.l946 J AD
Penn. Co.--4i9g,o</ap 1921 J A J
Peo. Deo. AEvansv.— 6g.l920 J A J
Evans. Division, 6 g 1920 MA B
2dmortage,5g 1936 M A N
Phlla.ABead.— Oen.,4 g..l9S8 J A J
l8tpLino.,5 g, aUlnst. pd.'58
2dpf.ino.,5g., all Inst. pd.'58 -'
3dpf.ino.,5g., all lust. pd.'58 -.
Pittsburg A Western— 4 g. 1917 J A J
RloOr. Western- I8t4g..l939<> A J
St. Jo. A Or. Island— 6 g. . 1925 MAN
Bt. L.A8anFr.— 6g,Cl.B.190U MAN
Oeneral mortgage, 6 g.. 1931 J A J
Oons. goar. 48, g. 1990 A A O
St. L. AS.F. RK. 4g 1996 J A J
St. L. A 80. W.— Ist, 48, g.l989 MAN
3d, 4a, g.. Income 1989 J A J
8t.P.M.AM.— Dak.Ex.,6g.l910MA N
lataonaol.,6 g 1933 J A J
" reduced to 4 lag.. J A J
Montana extension, 4 g. 1937 J AD
Ban.Ant.AA.P.— l8t.4g.,gu.'43 J A J
80. Car. A Ga.-lst. 6 g...l919 MAN
eo.Paeino,ArU.— 6g...l909-10 J A J
So. Paolflc, OaL— 6 «...1905-1:^ A A O
lat consol., gold, 5g 1937 A A O
Bo. Paolflc, N. M.— 6 g 1911 J A J
Southerii-lst cons, g, 58.1994 J A J
E. Tenn.reorg.Uen4-5s.1938 M A 8
E.T. V. AG.— Ist,7g....l900 J A J
Con.8 g 195ti;M A N
J A J
J A J
J A J
J A J
A A O
J A J
J A D
Maroh
J A J
J A D
J A J
MA S
MAN
F A A
MAN
MA N
F A A
A A O
J A D
J A J
MAN
MAN
MA M
Qeorgla Pao. Iat5-«a, g., 1922
Knoxv. A Ohio let es,g. . 1925
Bleh. ADanv. oon. 6s,g..l91.'>
Waat.No.Oarl8toon.es,g 1914
Tenn. a L A By— Ten. D. 1st, 6k
Birmingham Dlv., 6 k. ..1917
Texas A Paolflo— 1st, 5g..3000
2d,lnoome, 5 g 3000
Toledo A Ohio Cent.— 6 g. .1935
ToL St. U AKan. 0.-6 g...l916
Union Paolflo— Of 1898
Ext. alnklng fund, 8 1 899
OoUateral trust, 419 1918
Gold 6a, ooL trust notes.1894
Kan. Pao.-Den.Dlv.,6g.lg99
latconsoL, 6 c 1010
Oregon Short Line— 6 g.lOS3
Or.8.L.AUt'hN.— Oon.,8«1019
U.P.Den.AOulf,oon.,6g.l939
U. B. Cord.- l8t ool., 6 g. . . 1934
U. 8. 1 oatlier— 3.F.<ieb.«g.l913
Virginia Mid. —Oen.M., 58.1936
Wabaah— 1st, 5 g 1939
2d mortgage, 5 g 1039, F A A
WestM.Y:APa.-lat,5g.ie37J A J
Gen. 3-3-4a, gold 1943 A A O
We8t.Un.Tel.-Ool. tr. 6a. .1938 J
Wise. Cent. Co. Ist 5 g ...1937' J
t 40
35 b.
SSTg
52
41 b,
107%a
105 b.
94
t 17iaa.
t 8519a
• 20 a.
II318
80
•111 1
98 I
102 I
f 25 1
I Sl-^s
t 45I9
t 34%
f 32%
74 b.
• 7419b.
t 4719
111 b.
llOiab
64''8
67 b.
24 b.
116iab.
131 b
105
87 19
5719a.
91 b
' 94 a.
105 14
91%
90 a.
110>ab.
107
114 b.
120 b.
11319b.
80 b.
85 b.
851a
1914b.
10719
68 b.
103
85 b.
f50 a.
100
113
66 b.
till
t 63%
30 b.
limb.
100 b.
106
70 b.
107 lab.
45 b.
A i*10.^>i9b.
A J|*t38%b.
97 19 Aug.
9914 July
68 July
113 Aug.
36 Aug.
125 Sept.
93 July
IOOI9 Jan.
112 Aug.
IO219 Aug.
109=8 Nov.
115 July
100 Aug.
991a Aug.
120 Aug.
II214 Mar.
131 Aug.
131 Oct.
127 Sept
82 July
102 July
90 July
10978 Sept.
60 Jan.
109% Aug.
109 Aug.
100 Jan.
1 59 July
31i9Jan.
76I9 Jan.
t35i9 Aug.
1 36 Mar.
84 Deo.
51 Nov.
t26 Jan.
99% Aug.
100 Aug.
7OI9 July
1 16 Nov.
73i9 0ot.
t 7 July
104 Aug.
7958 Deo.
10519 Aug.
98I9 July
101 Mar.
22 Nov.
167 Aug.
18i4Jan.
5% Jan.
SigJan.
64 Aug.
63 Aug.
1 37 Aug.
llOia Nov.
101 19 Jan.
1 21 Nov.
64 Nov.
65 Aug.
83i9Aug.
II214 Nov.
117 Jan.
100 Aug.
8414 June
45 Aug.
93 Jan.
92 Oct.
1061a Dec.
85 Nov.
101 la Jan.
76 Aug.
89'8 Doc.
106 19 Aug.
100 July
103 Sept
11019 Sept
110% Aug.
103 Sept
72 aept
79% Sept
73 Aug.
13% Aug.
105 Aug.
16219 Aug.
99 >9 Sept
73 Sept.
1 45 Duo.
91''( May
106 Jan.
156% Aug.
1100 Jan.
148 July
2519 Aug.
1 14 Aug.
108 Ang.
87=8 Sept
99 Ang.
641a Aug.
100 Aug.
33 Aug.
101 Aug.
128 Aug.
97 Jan.
112 Jan.
10419 Jon*
106 Apr.
102 19 Jan.
103 1« Apt
102% May
31i9Mar-
12019 Max
69 Nov.
132 June
102 Feb.
105 19 Oct
121 Deo.
109 Feb.
lll%Jun*
II914 Feb.
107% Deo
105 Feb
134 Deo.
115 June
140 Feb.
133 Deo.
137 Febk
9314 Feb.
IIOI9 Nov.
IO314 Deo.
118 Mar.
67 Feb,
118 Mar.
II514 Deo.
tll7i9Deo.
83% Mar.
1 57 Nov.
196 Nov.
1 4819 Apr.
1 4419 nb.
86 Not.
5319 Nov
142% Deo.
109 19 June
105 ■ Deo.
96 14 Nov.
35 Feb.
91 Ta Jan.
36 Jan.
113% Deo.
82% Nov.
113% June
102 Mar.
102 Nov.
31 Feh.
t92 Deo.
1 49^8 Nov.
t39 Nov.
t SO'^s Nov.
77 Jan.
77^ Fetk
151 Jan.
117>9Apb
114 June
38 Mar.
66% Deo.
76 Feb.
32 Fetab
121% Mar
12419 June
106 June
90 14 Sept
89 FeU
97 Apr.
97 Fek
112 July
93% Apr.
106 Feh,
04 19 June
93% Fab,
lll%Jane
109% Apr.
114 Jan.
116 May
121i4Jana
114 Apz,
03 FaU
05 Fab.
01 Apr.
25 Nov.
lOOiaJnna
1 77 Fab.
107 Mar
97'aFab.
1 54% Fab.
101 19 Dec
113 Deo.
177iarabw
115 Apr
1 70 Fab.
40Ta Apr.
136% Fab.
113% Apr.
108 Ape.
109 Apt.
77% Fab.
108% Mwr
49% Fab.
108% JOM
t46 rah.
Hon.— ^" Indicates prtoe bid; "a" price atked; the range Is made up from actual sales only. * Latest price this week, t Trust reoalptl.
NEW YOBK STOCK EXCII4NGE VRlCEfi-iConUnnei).— INACTIVE BONDS -DEOEMBER 31
BBOUBTTIEe.
Railroad Bonds.
(Sloek Exekange Prieee.)
Al^am»Mld.—l8t,g., guar. .1938
AMh. To(>eka A Han Fran.—
UMoagii A St Loo.- Ist 68. 1915
Ool. Mid. l8tg.,68 1936
AH. A Pan.— 2d W. D., gu. 68.1907
Western Division Inooioe .1910
^Utt.A'Jhio- lit, 6«, Parks. 1919
Bid.
Ask.
,;::::
110
SECURITIES.
Bait. A Ohio— 5e, gold
Cons, mort., gold, Ss
W Va. A Pitta.-lft g., 58..
B. A O. 8. W., 1st g., 4%8...
Monon. River, 1st, g.,g. 5b..
Oent'lOhlo Reor.— Iflt4i98.
Ak. ACh. June— Ist, ir,5»,gu.
Brooklyn Elevated— 2il, .5s...
Seaside A B.B.—l8t,g,5R.gu
Br'klyn Bap. Tran.— Gold, 5^
1935
1988
1990
1990
1919
1930
1930
1915
1942
1945
Bid.
99
"i9
78
Aak.
92
46
BEOURITIE&
Brunswick A W'n— 1st, g., 48.
Buff. Rooh. A Pitts.— Gen. 68.,
Rooh. A P., 1st, 68
Rooh. A Pitts.— Oon8.1st,68,
Buff. A Susqueh.— Ist, 5b, g..
Burl.Ced.Rap. A No.— 1st, 58.
Consol. A ooUat trust, 5s..
Minn. A St Z..— iBt, 78, gu..
Ced. Rap. I. F. A N., Ist 68.
1st 5s
1938
1937
1921
1922
1913
1906
1934
1927
1920
1921
Bid.
97
130%
116
105
102%
102
100
il8%
105%
103%
THB CHBONICLB.
[Vol. UllV.
mm ffottt irocK ■to«4M(» mcK^.-inA(jTiva 8otfoa-fxM^imm»t/-DejBiiBBR »i. __
Mwoamm.
.IAS. •*•••>«'
IMI
,-UMi?.I> JK
, ,T»ioi. r D -\*Si
lit * 1,J. It»7
D., 7»...,
.a * M.^?*.
t».
1«,U(.*D»T..
iMk V A IX. 7*
» A rMM« Mr.. ••
..II
M
IM
19M IMS
.XfNM ISO
1»1» Ullt
.1*10
irMatIMT.Sa.:^.^IS10 ..~-
..••*. INT.. to. 1»« IM
.t^Siak^it. Amm ..in*\
.MBT.Mak. ru4.»«....iaie' ..^. , ^
k*oi ■<MiUute....i»i«'io« io»
Ua»-«i...l910|*ir
nMrtok.5fctMl *10T<1
)«L.*.M.«» tMl
"^ L-UI.7»....1907l
-.^ -U».»» 1900, .....
. AlttVMkM-IM. 7*.18M|'10S
tt.r.-4i.7t \WT\
' L-Ut. •• l»0»l
.v.abl r.-if«,s*. iMW 110
va 1U.-UI. M. ...._ 1910:
^•^W.-Cm^*)>..S« 1»07{
.IMT3U(.«a. .1»M
I nvtMM-l«. «• IMS;
r-OJUkF.IX.lMtelMW
UN. •%• 1006
~ IMM. U IMS!
I * 0« M.-1>I,5*..1»2S
•100
•125
•ISA
eo
100
13»
lis
).•«. r.* Hlaa.-1M,«* ..ItlS
. VmI *9k a-lat. •• 1»1»
, * *. Ia4.-1M. «. t,a«.l»l»
MralaM«CMn.«a l»n
, * wml mSk — 5* ir.-i
■••. A IX-Om.*. t., 7«.190»
,t0U.*»m-^^.„ I9S7 ....~
klX*lA-Ul.cm.Svct941 100
f.M>ia.-Tk.atte.terU(aa.l017 —
|M. I- Mf.. (. «• . 1S»3
i l i um . *».. i»3»
L.DlT.- U l M LWU«4t. IMO
'CM.0IV.-ULC.i4. 1»40
ULUr. -Ul« 4a. 1940
_ AltMT.-lM^4*.1901
LM. U * a-IM.«,««.19M
t-1*^ »•«*»•. I9«t
>a.AW.-lM P(.7«.19U0
• taCAW.-lMyfaf. S4. . l»3it
Ola. Ata4.— lat.7*At.l'l»«
.Mak.fa»4,7* t»u
*.-U«xCc,C*l.7> 19UI
_ -»!•* »k.-lM, »• 183.4
J *IUk.T^-«oM.S« ..|»M
.l-M».*W.-«oft.7. ...»»07
~ MacAH. T.-l*t,7>.lM«
_ ••jr«»»-U«,7« ...1»1»
grf ^^y.-^. 190J
t«(.Ma_ caar,. 7« lai.^
-#K»» -•C7* 1900
>>* » nia-r>t>T..»—».7«.i9t7
■^••••»-l*t.«a..7«l90«
'^?i*' ••^-O* -lOO*
^*9a». UiljM«>..7».|»ti
r»ar-OMa.«ii.<.l«io
«r.-l«^«a.<.0t.l9ll
.#«.-l- - ^H « laii
190S
. .. H»9>
. . .. ...|»J7
•<■»• .... utr
• ~~ I9I<>
^la ..•« .•••«19Sj
T**^l»«.7» ItU
•••*■-•••««. •»...I90«
,.!?•-»*«».• »• ...1900
I * 1"1«^>«« •* ••f •7^919
> T. ■.— «. •ot » . a.. I w I
t^rmt.t. •• ... 1.4.1
•7*
93
97
iof
101
13X
111
HI
I4S
143
19>t
lots
110
llu
II*
100
t04
loa'
109^
^^
■aouuTiBa.
100
10s
181*
117
80
•6'
103
130
140
llS<f
139*
147'
•4S
100
till*
119S
100
tit
CT.AT.B.- tv ♦««•>; lMO».t»n
laMk * Ia4taa.-\M. •oaa..lM6
riMAr.ltarqtwttii-
Han t» ......^^lOM
t«l. aaa. ««»'L »•....-.. „^l^
n. BarM Dtr.-ltt. »• -.•"•J
fte. OM * fWL-Kl €. 64... .1919
Uta9a.c.. 64 1943
fiwim »^ O. - . it «.. 64..19W
•aL Bar. ASaa Ant.-Ul.64.10lO
«. BaT«i*04rtr. qwa.Ba..iOia
law. A T4xa4 casual-
Waao * ». 7». ..... .- l»o;
1M«.,64«IBL t*i>. lOfJ
OMa. c. 04 (Int. «*«•■ — -ii-JSiJ
OakaaL 64. prla. * «.- »«5-;897
Dabaat. 44, prto. A Int. ctd-im
nitaoto Utainii-Ut.f.,4L..i09l
Ut.fleM.3<a4 1961
aotl44 1»5J
t-IOc.. 44.....^ — -l!?!
caini1itid«»-44 IWO
•aflaft D)T.-Oimp.,64....1f08
Widdll DlT.-Ka«M, *<^,-u" JS21
a 8L L. AH. O.-Tw».l..7i.l807
lM,ooa40L, 7i ..1897
OoU, 64, eonpon 1961
lla«»rDlT..lit«. 4a.....t961
BallT.A 80. IIL, pi., c., 4>aa.l807
UmL raIUAMUili.-Ut.74..l907
lad. D. A 8pr.— lit 7*, 1006, tnut
rarta., ex bond*
lad. Oea. A «r.-ut. c.. Sa. ... 1085
lad. Ola. A Iowa.-Ui, (. 4a..l939
lBl,4Zt..K.64. ^^ 1943
iBtTlO. rD.-8<l,4a.K. 1921
Ktaca Oo.-r.KL,l4t,S.f.,ga. A. 1939
Laka Bria A We4t.-8d >., Sa.l941
Xortk'n Ohio— lit,Ka.c.6a.l94S
U 8. A IL80D.-B.AB.-iraw7a.'98
Dat M. AT.-lat,7a 1906
Laka 8bor»— DIt. bonda,7t.l899
Kal. AIL A O. &-lat go. 6a.l938
Habon'c Ooal BK.-lat, Sa.l934
Lehl«hV.>.T.-Ut cii.K.i>aa.l940
Lahlfk V.Tarm.-lat m. &a,g.l941
L«hlcli Vt Oo4l-l4t54.Kn.K.1933
Lrhtah A H.Y.-Iat. RO. g. 4a.l94S
BlmlraaAN.,1 iit.R. Utpf.6a.1914
Qnar.. (Old, &» 1914
UteU. Oar.A Waat.-ut 64. «.l9ie
Uttia Book A M.-l>t. 5s, K..1937
Umg Ialand-Ut,7a 1898
rarn, Itt, r.. 4>t4 1923
Oold4a 1933
«. T. A B'war B.-Ut, g. Ba.l927
Sd mortc.Tliio 1937
II.T.AHaa.BeMh.-l«t, 74, 1897
II.T.B.AM.B.-IsCoon.5s.K.193S
Brookl'aAMoDteak- lat,6i.ieil
UUSa 1911
■o. Bhote Br.— lstaoD.SB,g,1932
Loala.BTaaa.A8t. L.— Con.Sa.l939
LaBla.AV4ah.-OecU. Br. 7a.. 1907
B. H. A lfaah.-Ut e«, g....l919
Paaaaooia DlrUloD, 6a 1920
St. LoDla DiTUlon, ist, 6a...l921
3d. 3a 1980
VaakT. A Oeo4tar-lat,7a..l900
n. (.,6a.-8. A M. Ala 1910
60-raar 64, s., 1937
Paaa. A At.- ist, es. gold. . . 1931
Oallat. tmat, Ss, c ..1931
UAH. A 1LAM.--Iat.«.,4>aal945
iraah.nor.A8.-tat, m., 6a. 1937
Kaatookr Ointm-44.s...l987
,.joa.AJaa.B4««Oo.— aa.g,4a.l94S
Laajr.Alb.AaL-O«B.m.s.6a.l940
Manphla A Ohari.-«a, gold. . 1934
Mextoaa Oant. OonaoL— 4a. g.l911
tat, aooa. Ineome Sa, g ..1939
Boa. InUmatlooal- 1st. 4a,g.l948
Bauoaa Vattonal— 1st, g., 6a. 1937
Sd.lB0OiB4, Oa, "A" 1917
8d, Inoone, 64, " B" 1917
Miohlgao Oaatral— 8a 1909
Ooapon.6a.. — 1931
iIorin«4a 1940
Bat.CA8trgla.-lBt,3s,g.gu.l989
Mlaa-AOC L.-lst,g. 7s 1937
Iowa Bxtaaalon, l<t,7s.....l909
aoathwaatBzt.- Isl, 7a.....l910
PaotAc EzL— 1st, 6a 1921
Me.K.ATaz.— Ul, ext., Sa. i{.1944
IIo.K.AT.orTu.lal.ga.Ss.g.1943
Kaaaaa Olty A P., Ut.4a.c..l990
Dal. A Waoo-la t, 5*. ga . . . . 1940
Mlaaonrl Paeiae — 'Trast R<...1917
latoalJ.,64, g 1920
at UAL M.-Ark. Br..lsl. 7.1. 1 S^»5
tfoMla A Ohto-lst ext, 6s... 1927
at. L. AO»lro—U,«a»r 1931
Korgsn's La. AT.— lsl,«s ...1930
lat.7a. .... .........1918
i•?^?^t **•>-*•• «• -1901
X. O. A. Mo. It. -Pr. 1., g., <<..igi5
■ .T.,0»atraL-Dab. t. 4s.... 1906
M. i. Jaao— Ouar. lut, 4s...l99b
aaaah Oraak-lst, (riict, 4a.. 1936
Oa«. A Bums— 24, 5«, g.,ciLt91S
H^S* ^ .^'- «'»•-*«. «.. ga.1938
;. T. ir. H. A B.-Ut. rf... 44.1903
2- r i "<>«l»*n'-«st, K. Ss.. 1937
«. T. aasq. A WMi.-l.t. 4>a<. 1937
•«•••«*•.»•. ' 1940
_ •^SM ■!»*--l»»JH'L,g.5«. 1943
«pokko« A PaL-Ut, Qa. ...1931
......
103
'.IIIH
78
114
84
79
11«
88
83
• ■»••
• •••
..••M
'48
9iH
*■■
• ■«••
ISO
......
■ ■••
136
108
•88"
111
ioi
106
100
too
103
103
117>a
100
100
80
41
ll6<a
103
120
73
62
ioa>a
118
116
133
101
ids'
11H>«
72 »i
103
3S
35
it>a>«
103 >«
105
104'
105
ibe"
114
117
101
109%
108"
"ii"
■95"
108>i
85
89~
"ii"
103H
'42%
i()2>a
......
•30"
104
113
106
■4"'
......
.....
i'li"
100
95
95
iio"
97
.....
104
80
87
96"
84
13S
1»1.«
114
131t
74"
87%
8B0DB1TI B6.
BorttiarB Paclflo— ^ ...^__
Ba(aBaAB0diro-lst.«.. 6a. IM7
Dul.A liao.-UU«.a».U.I»0.t988
Dak DW.— 1st 6», tr rao..l987
naaard'Alaoo— lst.e4,golcl.l9ie
a d'Alooo-Oon. lsl.g., 6a..l98c
Norfolk A Hoiith'o— 1st, Sa.c.l94i
Vorfolk A West.— Ooneral, 69. 1931
Hew fUvxr Ut 6s 1932
Imp. A Bxt.,6a 1934
Adlnatmeatlt., 7a ...1934
Md. A Waab. DlT.-l*t,g.58.l941
8eloto VaL A B. B.-l8t.4a„198P
ObloAMlaa.-
Ooaaol. 7s. ...m ..... .....1898
Sdoosaol. 7a 1911
Bprtng.DlT.— Iat7a 190.t
Oeaeral 5a. 1032
Ohio Blrer B&-lat, 5a. 193t
Oen.g.,5a .^.193'
Omaha A SC Lioals.- 1st, 4a..l937
Oregon A Oallfor.— lat, Sa. g.l037
Pana-P.aa^k8t.L.On.g.4)aaA194<<
Oo do Sarlea B
P.aA8.L.-lst,o.,7s 1901
Pitta. Ft. W. A 0.— Ut, /a.. .1912
ZUf 7B •«•■•••■■■•••■■••■••• XV liA
3d, 7s 1912
iTh.8tL.AP.— lst,OOU.5s,g...l9S2
Oloy. A P.— Cona.,a. fd., 'It.lOiK
Oen. 4>«s, g.. "A 194!
St. UV.AT.H.—lst,6a., 78.189';
3d, 7a 1896
Sd. guar., 7a 189v
Od.B.ALBxt.— l8t,4>«a,>».K. 1941
Peoria A Pek. Union— lat, es .1921
3d mortg., 4i«s 1931
Pitta. CleTe. ATol.— Ist, 6s... 1922
Pitta. A L. Er.— 2d g. 58,"A".1928
Pitta. Mo. K. A T.-^at 6a..._1932
Pitta. Palnar. A F.— let, 5a. ..1916
Pltta.8hen. A L.B.— lBt,g.,54.1940
IstoonaoLSs 1943
Pitta. A Weat-U. 5s, g.1891-1941
Pitta. VgafnAA.— Ist, 5s,oon.l937
Bio Orande 80.— 1st, g., 5s... 1940
at. Joa. AOr Ia.-3dlna 1925
Kan. 0. A Omaha— Ist, 58..1927
St. L. A. A T. H.— Term. 58..1914
Beller. A Oar.— Ist, 6s 1923
Chl.Bt.I,.^U>ad.— l8t.gd.K.5a 1917
at Loula 80.— iBt, gd. g. 49.1931
do 8dlncome,5e.l931
Car. Aahawt.— Istg. 4s....l93^
at. U A 8. F.— 2d 6s, g., oL A. 1906
2d, 68, g., olaaa C 1906
ueneralSs 1931
1st, tnut, gold 58 1987
Ft. 8. AV.B.Bg.-l8t, 68...1910
Kansas Midland— Ist. 4s, g.l937
St Paul City Ky, oon. 58, g. . . 1937
Gold 58, guar 1937
8t Paul AI>ulath—lBt,5s.... 1931
3d mortgage Sa 1917
at Paul Minn A M.— 1st, 7s. .1909
3dmort.,6s 190'.'
KInneap. Union -1st Os... 192/
Mont. Oen.— Ist, guar., 6s. .1937
Utgoar. g. 58 193';
Baat. Minn., 1st diT. lut 5^ 190-
W"o irAaiouxF.— l8t,g,58.19J-
Ban Fran. A N. P.— Ist, g., .nii.miu
Hav.FL.VWest. -Ist, con. g.6s.l934
Soiulieru— Ala. Oeal., 18169.1914
AtL A Char.— Ist, pref., 7s.. 189:
Income, 68 1900
Oolam. A Oreen.— Ist, 5-08.1916
E. rena. V. A 0».-DItIs..58 1930
Kioh.Jt Oan.— E<i. a. f. g. 58.1909
Oelwn. Sa, scamped 1927
Vlr'a Mid.— elerlal aor.A, bs.l906
Series B, 6s. 1911
Series 0, 68 1916
Series D, l-Ss ...1921
Series F,5a 1W31
Wa8h.U. A W.— 1st Ottr.ga.48.1924
Tar. AB'n of St. L.— Ist, 4<as.l93i<
Ist. oon. tc. as 1894-1941
Ht..L..Mer. Br. rerin„g.aa,Kii..l9J>j
Texas A Na« Orleaaa- l8l,78. 1903
Baolne DIrlsloa, lat, 69 191/
Ooosol. Ss.g.... ......1943
Tex. A Pao., E. D.-l»t, g. Os.lstO :
Third Avenoe (N.Yi.-lst 5s. 193;
T.AO.C-Kau.AU., Mort 49.199"
ToLPe.i. * «Vest.— lat, g., 4».i9l7
Ulster ii U«l.— 1st, oun.,6.,59. 192s
Onion Paoitlo— lat,6B 189ii
Ut,6s 1S9.
Oollataral Trast, 6a 190'
Oo'.l»'«r»l rraai. .'is , .190"
Ksava.' PMitlK-letes, ^. .l!j9i^
Ul, 6s,.r.. Id9i
O. Br. V -C.o.,?* ISM
Atoh. Ool. 1 P»c.— lat, 6s...l90^
Atoa. J. '!o. A W.— lit, 69...190"'
0. P. Lin. A O >l.— la'.,g.,5a 191b
auhASIdrta — lot, 7s..... 190?
«uld. .'»«.... 192'
Itah Aouthsro— Uen , ■..190
BxtoD., Ut, 7* 190.
Wabash -
Debenture, B»r. K ..... 193;)
Debenture, 8nrle» B ..I9i
DeU AUhlo. Ext. lst,5s. s .194
«i L,.K.O.AIi.-8i.O.U<tge6i 190
West n.Y.APa..K«ii.g. 2-^iit 194.>
iDOume 5s..... .... ..... ...1943
Waat, »».C. »t*itu.-l.i„d» iJi
Wymi.*.'. K -i«t ''«. '.ii' . X'it-
Wheeling Ulv.. 1st, 5a, g...l923
Extsasija A lmt>. ,t., .>>. ... i9 u
Wis. O^Tt. iQoom" ^" .i9<7
Aak.
*......
84
106*4
118
llO>a
/.".in
--»••
81
81%
105
"isT
lis
•100
•
■44"
•77
•108%
108
"ic,"
109"
103
106
110
74i«
94
103%
Ul
111
96%
106
85
103
lOvS
109
lis
108 >•
ids'"
108
95
46"
971a
90
109
105
i"rd>a
115%
102 la
105"
......
....M
— -
US'-
■99
90
:::E
••>•••
>»•■•
•■••^
108"
105
iio"
"si"
loeii
105
VJ"
100
122>«
78"
'Bafttaa radar 1 '*«***— "-'alfsnasiaiuaaaala
UUawaak. far llarviianaaaa Boada-See 4d page preoadla«|
Janoart 2, 1897,J
THE CHRONICLE.
37
Ittujestment
AND
RAILROAD EARNINGS.
The following table shows the gross earnings of every
STEAM railroad from which regular weekly or monthly returns
can be obtained. The first two oolumas of figures give the
gross earnings for the latest week or month, and the last two
oolumins the earnings for the period from January 1 to and
including such latest week or month.
TTie returns of the street railways are brought together sep-
arately on a subsequent page.
Roads.
Latest Orost Earningt.
Week or Mo
BOADS.
Latett Orott Earnings,
Week or Uo
Adlrondaok
Ala. Ot. South.
Ala. Midland . .
Ala. N. O.Tex. 4
N. Orl.&N. E,
Ala. dt Vickab.
Vl«k8. 8h. * P.
Allegheny Val..
Ann Arl>or
Ark. Midland. . .
Atoh. T. &. 8. Fe.
Atlanta & Char.
Atlanta & W. P.
Allan. & Danr. .
Atlantic &. Pao. .
AaguataBoat'n.
Anatin dk N' irest
BaluChea.AAtL
B.&O.K.O.U1V.
WeakOhloRlv.
Tot. system.
Bal. &0. Sou'w.
Bangor AArooat
Bath <jk Ham'nda
Bir. ifc Atlantic.
Bnmaw'kAWest
BaltRoob.&Pltl
BdSUo a 8aaq. .
Bnr.O. Rap. ^k K.
OanadlanPaoiflo
Oar. Midland
Cent, of Oeor)?la
Central of N.J.
Central Faoltlo.
OharL CI. ife Hat.
Obarleat'nASav.
Obes.Aublo
Oliea.O.&So.W.
Chic. Bur.AQ.rf
Ohio. A East. III.
Chic. (it. Wesfn
Chlo.Mll. A 8t. P.
OblaAN'thWn.
OI1I0.AN0. Pao.
Chlo.Pco.A8t.L.
OhlcR'kl.AP
Chio.StP.M.AO.
Ohio. AW. Mich
Clioo.Ok.d|l>uir
Olm.(}a. A Rrta.
ObLJaok. A Mac,
CIn.N.O.AT. P.
Cln. Porta. A V.
01eT.Can.AMo..
0LCln.ab.A8t.L
Peo. ASaat'n.
OLLor. AWheeL
Ool. Midland ...
OoL H. V. A Tol
OoLBand'rA H.
Oalaaa A Lake. .
Oryatal
Camb'I'd V'allev
Deny. 4 Rio (}r
De« M.AKau.C
Dee.M.N.AW..
I>et.Lana'KANo.
I>et.*Maonnac
DiilntbS.a.AAtl.
■UlnJol.AEatt.
Erie
XnrekaHprlnKs.
■Tana.Alnd'pll8
October. ..
SdwkDec.
October. ..
Pao. Juno
Ist wkDeo.
Isl wkDec.
lat WkDeo.
November.
3d wk Nov
October ..
November.
October. . .
October. ..
3d «fcI>eo.
tth wkOot.
October.
8eptemb*r.
November.
November.
November.
November.
3d WkDeo.
October. . .
October. ..
November.
October. .
SdwkDec.
November.
3d wk Deo.
3(1 wk Dec.
November
November.
October. . .
Octol>er. ..
October. ..
October. ..
3d WkDeo.
July
Sovembor.
3d wk Deo.
3(1 wk Dec.
3d wk Dec.
November.
October. ..
November.
November.
Novembec
3d wk Dec
October. ..
November.
3d WkDeo.
November.
November.
3d wk Deo.
3d wk Dec.
November.
3d wk Dec.
November.
November.
Novemt>er.
November.
October. ..
October. ..
.'i.l wk Dec.
2d wk Dec.
November.
3d WkDeo.
October,
3d WkDec.
November.
November,
aeptemb'r.
3d WkDeo.
3d WkDeo.
3d wk Dec.
November.
3d wk Dec.
2(1 wk Dec.
tth wkNov
November.
1896.
S
15,694
37,731
62.832
1895.
23.000
14,000
12,000
176.990
24.842
10.880
2,931,904
173,890
54.688
13.718
05,890
9.9(>8
27.805
32.900
1,645,608
511,S10
2,157.418
127,284
80.958
10,375
2.498
53,858
57,936
49,004
83,804
408,00t>
.-.,185
502,282
1,263,807
1.320,358
4.780
42,323
936,345
178.672
2.823.300
109,939
89,303
5U0,52S
2,478331
72.159
67.718
1,201,636
751,464
26,003
135,190
4.760
13.611
280,248
23.417
10,932
265,780
114,394
18,894
158.843
253.951
61.224
1,300
540
75.233
124,000
2,134
32.484
29.605
19.288
23,473
94,481
3,874,327
6,372
6,376
1,763
22.856
•42.007
55,356
41.938
29,386
34,925
827
353031
23,127|
94,636
74,050
30,592,
4.748
638
3,608
40,486
863,628
83.919
18,711,
2,367
1.646
$
15,707
41.301
62,574
vans. A Rich
■vanav.AiT. H.
ntohburg
niiit.AP.Marq.
VU.Oent.APeu
]rt.WUiADen.C.
rt.W.ARIoOr. November.
Oada. * Att. U. November.
OeorglaBE SdwkDec.
Oeorjrla A Ala.. 3d wk Dec.
Oa.Oar'la A No. Beptemb'r.i
e«o. 80. A Fla.. November 1
Or. Bap.AInd.. 3d wkDec.i
an. R. A Ft. W. 3d wk Dec. i
TravereeCity :ij wkl>e«.|
Moa.a. R.AI.,.'id WkDeo.
Tot. all lines 3d wkDeo.
Grand Trunk... 3d wk Dec
Ohio. A (Ir.Tr. 2d wkDeo.
DotOr.H.AM. 2d wkI>eo.'
Cin.8aK.AMac 2d wK Dtc!
_Tol.8.AMui!k Jd WkDec.
OrMt North'n- j I
St P.M. A M Novemlter. 1,648388 1,936,680 14,498,392
35,000
13,000
12,000
234,260
22,005
15,582
2,804,613
199,663
64.866
15.135
89,177
8,46'
24,858
35,100
1,558,593
525,336
2,083.829
126.639
83,970
7.174
3,239
49,692
69.748
42,347
108,109
402,000
4,890
518.637
1,257,871
1,335.22^
5.050
36.941
213,790
138,848
3.204.987
103,500
80,531
663,818
3,087.368
67,040
79.338
1,399,774
831,525
26,937
104,722
5.017
14.581
847,750
27.709
257,650
168.972
26.484
143,40^
272.1S7
75.065
1,200
1,141
87,204
130,200
1,855
36,602
18.182
24.797
35372
124.141
2,938,976
6.021
6,799
2.161
96.321
672,971
46.046
37,873
24,003
62,718
938
38,615
14.879
67,318
76.101
40.56^
8,547
849
1,826
61,787
Jan. 1 to Latest Date.
1896.
1895.
$
165,334
1,479,702
o2 1,365
1,214,992
547,906
521,618
2,142.287
1.013,426
75,900
36,923,391
l,283,ti61
426.601
533.831
2,912,478
64,375
190,975
450,389
5,926,333
597,420
29,467
21.521
503,385
3,261,729
493,05»
4.339,059
19,987.726
55,380
4,660,004
10,485.734
10,438,893
46,195
486,326
10,005.816
1,282358
31,221,403
3,774,612
4,533.297
30,536,941
29,730,719
885,454
817,294
14,184,662
7,496,239
1,581,918
185.344
1,599.267
448,687
1,275,310
504,656
493 065
2,355,637
985,122
84.035
26,096,110
1,337,079
392,644
547.643
8,962,007
*5,59^
182,097
465,879
Hong.AT6x.Oen October.
Illlnola Central. November.
lnd.Deo.AWest. 2d wkDec.
Ind. 111. A Iowa. October.
In.A Gt. North'n 3d wk Deo.
;interoc. (Mex.)iWk.Dec.l2
Iowa Central... 3d WkDec.
Iron Railway. . iNovember.
Jack. T. A K. W.IOctober. ..
Jamest'n A L. E . October. . .
Kanawha<&Micb 3d wk Dec.
58,171
685.474
3,067.568
251.177
885.969
12,584,704
1.653.023
1,2 S6,«80
I,«t2.1tf4
2,274,994
742,932
17.991
9,753
69>.26
7,04;f,2(U
110,693
405,25.S
1,134,489
8563 >0
1.861,0-10
1,195.253
28363,958
46,317
278,336
113.533
1,02H,601
6,743,637
2.613,561
1,911,796
896.548
297.433
9,738
1,506,286
844,184
630,477
806.(>16
1352,209
881,679
43,690
118.030
, 2395,615 . .
366,068 18,049323 17,415,(il
59,803' 3,982.683 2,644,484
18,732| 907,969 """ "
2,927
1,101
6,271,164
819.651
26,760
20,909
429.977
2,967.787
SUU.lol
4.412.932
18,292,120
l(i,4.'i.T
4.566,(>7.">
10,765,791
10,874.977
439.8.^U
9,510,093
1,295,184
30,736.470
3,796,607
3,953,981
29,817,346
28,888.til3
633,755
851,592
14.075.9^2
6,84S».640
1,687,919
K.C.F.Scott&M. 3d wkUeo
K.C.Mem. A Sir. 3d wk Dec.
Kan. C. N. W November.
Kan.O.<fe Beat. November.
K.C. Pitta. A G . . ;3d wk Dec.
Kan.C. Sub. Belt 3d wk Dec.
Keokuk & West. 2a wkDec.
L. Erie All (fe 80. November.
L. Erie & West. 3d wkDee
Lehigh & Hud.. November.
Lex'gton&East October. ..
Long laland November.
Los Ang. Term. November.
Loui8.Ev.(fcSt.L. 3d wk Deo.
Loui3v..fcNa8hv.i3d wk Dec.
Louls.N.A.(S!Ch.[3d wkSept
Loii.Hen.ASt.L. 3d wkDec.
Macon & BIrm . . ! November.
Mani.-(tlq»e November.
MemDhi.s&Oha».|3d wk Dec.
; Mexican Cent.. 3d wkDeo.
Mexican Inter'l. October. ..
;Mex. National. '3d wkDec.
Mex. Northern. Septemb'r.
;Mexican R'wii.V|\Vk.Dec.l2
.Me.\loan So 2d wk Dec.
.Middle Oa.AAtl. October. ..
.Mlnneap.(fcSt.L.|3d wkDco.
M.St. P.&S.St..M. '3d wk Dec.
Mo. Kau. A Tex. '3d wk Dec.
Mo.Pao.(&lronM 34 wkDec.
Central Br'oh. 3d wk Dec
Total 3d WkDeo.
Mobile (fc Blrm.. 3d wkDeo.
Mobile ft Ohio.. November.
Mont&Mex.Olf.Septemb'r,
Naah.Ch.(& St. L. November.
Nel. A Ft. Sh'p'd November,
1896.
BaatofMlnn..
MontanaCeat.
_ 7ot.ar8tem.
OaUAOfiloaco.
O'UB'mntAK.C.
Hooa.Tnn.AWII.
November.i 213,937 234,420, Il796;i03
November. 153,971 144,76"' 1,760,208
Novemlwr. 2,016,209 2,316,887 18,064,703
November. 8,490 5,810 42,732
November. 10.342 8,849, 87,384
November. 3,218' 6,034 41,554
60.584
617.ti(il
3,369,986
236,176
662,933
13,590,230
1.820.103
1,443.861s
1,581.318
2,4l(i,275
797.762
17,277
7,463
710.()'.<()
7,070.014
9:i,»r.;)
341,492
1,116,107
309,870
1,771, l;i6
1,0.37,532
28,115,395
49,544
294. (!32
111,868
1,066.027
6.783.393
2,433 48 .
1,8 17,709
984,941
361,384
8,383
1,304,367
484,185
479,186
731.122
2,018,479
436,970
43,380
113,220
2,612,133
958,610
Nevada Central
N.Y.C. &H. K..
N.Y.Ont.,«iW..
N.Y.Sugo.dfcW..
Norfolk A West
Northea'n (Oa.) .
North'n Central
North'n Paoino
Oconee A West.
Ohio River
OhloRlv.&Chas
Ohio Southern..
Ohio VaUey
Oregon Imp. Go.
Oreg.RR.ANav.
illf "
8ept<<mb'r.
November.
3(1 wk Dec.
November.
3d wkDoo-
Septemb'r.
November.
3d wk Deo.
November.
3d wk Dec.
November.
November
Septemb'r.
October. ..
November.
November
November.
3d wk Doc.
October.
October.
October.
October
October. .
Novemner.
466,389
1,871,691
9,692
66,636
99,918
48,056
29,884
3,283
24.833
3,141
9.598
30.100
27,637
28,749
423
24.501
6,382
7,204
5.851
61,709
31,138
13,?47
280.168
4,581
21.839
415,506
58,404
10,058
6,579
2,194
31.258
219,206
328,195
108.948
51,306
70.974
11,194
11.155
35,857
67,790
261,900
452.000
18.000
470,000
10,148
353,684
75,273
403,768
6,395
5,182
3,882,318
66,17a
210,654
267,487
6,348
551.897
342,-298
3.638
17.838
18,581
33,871
1895.
508,716
2,157,388
12,439
73,028
82.928
39.619
36,833
4,583
25,060
Jan. 1 to Latest Datt.
1896.
1896.
13,397,817
1,493,381
1,421,956
16,313,154
41,948
60,836
48,037
Paoido MaU.
Pennsylvania.).
Peoria Deo. AEv.
Petersburg.
PhUa. A Erie....
Phila. A Read...
Coal Alr.Co..
Tot. both Co's.
Ph.Bead.AN.E. _
P!tta.C.O.ASt.L. iNovember!
Plita.LlHli.iWn November.
PltU. Bh. 4UE. j3d wk Dec.
Plttab. A Wea'n. '3d wk Dec.
Pitts. CI. A Tol.) 3d WkDeo.
Pitts. Pa. A F. i3d Wk Deo.
Total syatem.. 3d wkDeo.
Pitt. Young. A A . ' November.
Quinoy O.x K.C. iNovember.
Rich.Fr'ksb AP.'October. ..
Rich. A Peterab . October.
Rio Gr. Soiitli'n. :m wk Deo.
Rio Qr'de Weat. 3d wk Doo.
Sag.TusoolaAH. '8((iiteinb'r.
Bt.L.Ken*etA8o. November.
St.L.&8an Fran. OciOlier. ..
8t.L. Southwest 3d wk Deo.
at Paul A Dul.. November.
San Ant. A A. P. November.
BauFrau.AN.P. November.
8av. Fla. Ji West October. ..
Sher.8hrev.A8o. itbwkNov
Seab'rd Air Line Septeiub'r.
811.8pr8. o. A G. October. ..
Silverton November.
So.Uavcu&Kasi November.
So.PaoillcCo.-
Oai.Uar.AS.A October. .. 633,047
Louis'a. We»t. Jctober. .. 106.916
Morgau'sLAf. October. .. 630,943
N. Y. T. A Mex. October. . . 36,925
Tex.AN.Orl.. October. .. 136.911
AtL Prop'tea . 6 October. . . M 95 1 1 1 9
Paoltto system October. .. 3,228,794
Total of aiU October. .. 6,179,yiv
80. Pao. of Cal. October. . . 949,172
Bo.Pao.orArlz. October. .. 224,893
Bo.PacotN.M. October. .. 106.127
Northern Ry.. October. .. 236,127
Southern Ry.... -.a wk Dec. 888,994
Spok.F'lsANor. November. 39,556
StatenLRap.Tr. August.... 147,437
StonyCl. AU.Mt. Jctolier. 1.958
Summit Branch. Octob((r. .. 94.089
Lyk. Val.Coal. OcUJber. .. 88.476
Ton both Oo'c October. . . 182.565
Texas Central. . 2d wk D((c. 7,755
TexatAPaoitto 3d wk Dec. 178.902
Tex.S.V.AN.W. Noveml)er. 3,292
ToLAOhioCent. 3d wk Dec. 30.439
ToL P. A West.. 3d wk Dec. 18,486
ToL8t.L.AK.C 2d wk Nov 48,717
Plater A Delaw.Beptemb'r.
277,383
471,340
324,051
5,246,424
19,761
45,972
627,561
2,060,106
2.767,862
4,827.958
54.262
1.047,434
3.227
9,719
29.010
14,278
3.602
46,790
98.864
20,449
64.426
27,752
7,760
46,250
11,187
8,494
674,043
123,09li
155.332
233,004
58.524
3'20,441
13,867
334,876
16.882
3.674
2,599
9,180
76.427
33,486
24,542
384
9,411
4.548
7,794
8,643
73,960
37,984
21,111
278,098
8.453
27.712
419,505
73,785
9,396
6,563
3.126
38,140
193,370
253,168
88,478
55,733
60.681
9,195
9,247
35.044
68.440
209.555
433,000
15,000
453,000
10.413
372,969
108,777
491,701
3,521
3.298
4.201.746
76,293
206,009
239,776
4,002
684,838
338,987
2.969
20.827
17.272
78,286
299,381
382,572
340,331
2,599,6071 2,849,664
19,086,470 18,851,632
435,233
628.3271
3,892,883
2,201,653'
1,879,329
39,881
260,107
441.176
4,290.894
1,151,653
253,871
4.225
775,139
327,488
375,004
53.634
3,238,398
360,901
166,080
3,692.430
85.1771
1,451,940
19,718,933
2,209,409
442,408
56.563
110,639
1,272,400
9,8-26,371
2,411,763
4,993,529
583,144
3,152,251
518,675
1,948.723
3.601,850
11,416.641
21,236,000
752.001)
22,008,000
3'28,101
3,343,611
833,18->
4,571,014
26,238
452,585
633,007
3.190,812
2,162,823
1,635,603
45,038
831,843
438,829
4,325,547
1,085,103
323,716
4,584
618,792
271,039
361,143
74.238
3,415,833
399.161
175,471
3,791,988
137,593
1,430,941
19,342,348
2,272,642
432,227
65,847
113,314
1,221,971
9,211,860
2,147.089
4,283,603
518,653
3,056,003
460,155
1,929,528
3,067,776
10,810,027
22,037,080
593,913
22,630,993
286,673
3,120,467
923,U27
4,413,672
20 9 SO
40,436,860 40,318|040
3,635,137
2,068,320
9,3^8,8'28
86,073
5,948,844
18,764,072
26,655
866,444
167,281
696.109
268,737
3,709,327
3,762,l!(2
3,067,752
10,748,586
43.737
5,766,482
18,330,376
33,077
946,401
170,730
645.627
256,687
2,720,563
, 3,679,624
5.877,624 56,904,'272
19.656
46,626
482,845
2.274,261
3,350.686
6,624.947
69,896
1,437,250
4,596
13,697
29,193
15.5'29
5.177
49.899
147.858
22.359
61.959
29.286
ll,3'2ti
40.700
11.353
5.861
633.557
119,280
174.190
167,993
64,239
312.759
19.719
256,736
11,617
7,03'
1.363
551,7.!9
122,230
610,215
26,897
165 665
r205665(J
3.291,665
5.348,215
1,004,947
260.903
116,426
205,365
453,260
29,124
153.020
2.512
IILLSO
91.246
202.396
11,677
222,943
3,496
32,726
23,296
40.338
836.191
48 ,591
3.634,581
16.885,701
18,936.684
35 822 385
63-,i,292
13,134,406
39.885
617,020
1.622,562
719,819
375.661
2,785.829
1,311.830
269,229
693,462
288,057
439.560
2.333,381
82,149
5.076.009
4.707.109
1,429.350
1,899,017
693.510
2.822,568
272,841
16r,52'»
26,884
4,135.998
744.700
4,083.112
219,402
1,106,713
/•134024O9
3.987,981
58,987,572
891.763
452,918
3,686,167
17.730.961
19,998.319
37,739.28C
706,386
14,116,408
40.964
602,191
1,684,443
867,780
341.138
3,947,817
1,628,104
237.996
613,668
284.204
441,159
2.326,799
85,341
4.946!633
4,903.838
1,458.888
1,794,089
760 063
3,796,248
317.863
isi'.iei
'is'.iw
8,895 338
884.645
4626,393
197,683
1.356.244
n4351353
26,435 948 26,982,607
39,838.004 41.333,961
8,289,803
1,846,165
935,022
1,810,290
18.069.338
396,551
810,479
37.182
788.836
724 563!
1,513,399,
275.2911
6,541,383
1,'736',252
923,647
1,866.866
313,002
8,654,820
1,857,431
890 415
1,648,807
18.28.S796
254,249
810,513
39,313
968,666
605,283
1,573,847
298,149
6,762.113
l,793,22i
966.283
1.619.888
319,168
IHB CHKONICLE.
[Vol. lxiv.
11^7.380
ttUSTO
iSl.OK
S,t4a.94<
i.sse.ta9
t,.tM,>41
T7,»aJ
» Otmw Kr- * ■»▼■. Ob. Pm. D«aT»r*
1 4t fHilinTrtri OalM •■4 Lmtm vortk
«(«• (Ma. a^rilactM
both
Mr llMiMraattr •9*nM« MM of ntMbUK.
U>Haa<ton * rezM 0*ntr»I.,
•nuaU
KortbVMtora aod Pi. Worth
1 9nm ■kralan *j WMkt.— Tk« UlMt wMUyMrn
|Bp ■ lb* fontotag w Mpantoiy •ammed ap m foUowa:
ltelkalMfd««*o( DaoMBbar oar praUminftry ■tatemeot
iflTrai4i.aa4*o»al-t8p« oMtloMtn tba agKragate
I waak Uat T«ftr.
Mllw.AM.PBai.
iar*WM*lfl«kifaa...
b«a«hHa*Maaklaav
•va, c^aioa A ••■ta'a
•v.aa.CW«.*M.L..
•*. liMalM * VhoaUac
IMC
Ibaaa-aAVartVa
r. A la«laM»<41a ■
r.A mtkmimi...
v.ATarMOaaMk.
* lOaUcaa...
OM PtTiriTiaa.
OMp PMMk. A uatf
&5tataf«k8alt..
iSfeAVaMara....
■*aM«. * at. L
H«»d. AM.I,...
teAVaMTtUa...
•alt* OkartaMaa..
<ft<».C|.
trt.ni
1S.TU
lt7,9«4
n.«M
4M.M0
tSCMA
10«.Mt
M.ao*
M.«M
IMlt
io.«n
•M.TM
IMM
1*4,000
M.00»
•M7I
5,376
l.7ftS
tS,M«
«a.ii7
M.W*
e.7u
M,»ia
1M5.
41.WI
1».1S>
lM,<Si
M.7W
100.109
tOi^OOO
1IS.7M
10S.»00
ao,Mi
OSMU
M.037
14^1
>a.«M
t67.aM
3«.«a4
ISO^MO
i8.in
tS37S
«.70»
a.iai
9>,a3i
46,ata
S8.515
14.67»
40,a«9
S,A47
au
i.aaa
njn»
•0.100
t7.0S7
•4,A0I
•.*aa
at.7oa
ii.aw
10.0M
4i»,Ma
ai^asa
tia^aoo
tocMa
a».»»7
ar.Tao
i«i,aoo
aas^ooo
icooo
io.t4a
aa,i7a
••7,U7
a4i.aaa
i7.asa
i».7ei
•,7lt
4a.7M
7.7ao
4a.ta«
iss^mi
a.7s«.aa«
aaao
7a,4r>
u.4a*
9.411
4.M8
7S,9ao
a .711
9Jt»»
419.MS
as.i4e
laa^rro
aa.47a
S».044
4SS.000
15,000
10.41S
7e,a9a
S8a.77«
SSI.M7
104S7
ia,55«
ia.oa7
49.89»
ii,a9a
40.700
119.3»0
4M,t«0
»n.943
88.790
3a,aaa
70,907
a.tl5,97«
645
88,549
6.4*9
8,778
8,iao
iMsa
9,810
'i'iVi
7AM
16.980
418
8,678
15,090
l.f"
668
85,8»6
16.470
818
5a.84>
14.000
8.000
17,711
SJll
toe
5,550
8,811
1.60O
""z A
975,694
8^70
1,417
1,818
33,805
63.890
9i4
970
1.396
7.990
6.800
18,899
1.433
408
8.485
8.307
9,973
1.799
311
6,949
5,849
12,351
5.873
"ilooo
6.883
650
365
10.117
3.989
's;»7ij
8.109
8,566
64.2it0
4l.0«l
3.i87
4,810
84.8J6
S6S,01i4
87.311
which monthly r«turiu caa be obtained ia given oaoea month
in thoao oolumna, and the Ut«at swiement of this kind will
be found in the CBBomcLa of Dooember 19, 18M. The next
wUI appear in the iasue of January 28. 1897.
gro w aanwaw.— ^ . Ifei Conunyt.— ,
1806. ^-
a
151.386
1,866.747
694.345
63.838
1896.
•
70.901
379.607
857.476
16.706
7i.3)3
84.83)
965 819
JaV.'i to"if<>T."8d..".i;B6;99V.89l 26.096,110 7.589'78l
JalT 1 to Mot. 80. ...18,835.158 13.643,834 4.135,885
AlahaaaOt Beatha..HoT.
Jaa. 1 to Hot. 80. ...
JalT 1 to Mer. 80. ...
Alabama IIMIaad....O«(. . .,^.
Jaa.1 taOoUSl 521.36)
JalrltoOotSl 317,329
Ateh.Top A8.P«.b..WoT. 8.931.901
1805.
a
100.433
1.471,S57
773,686
63,574
449.637
310.967
2.304.643
BrmMWlokAWMt ..Oet 53.858 *».«»3
Jaa. 1 to Oet. 81 503.865 429,977
JalT 1 to Oot 31 303.649 186,413
Oaaadlaa Paolflo. a.. Nor. 1,964,634 3.139,035
^Jaa. 1 to Not. 80 19.755.726 17,016.120
IM Banilaga loathly U Utaat DaUa.— The ubie follow-
• 6l»w«thaM(«aroinic«of Sra4M railroad* raportod thia
A full detailed rt a U iaant, iocludiac oU roada front
Oaat. or (iMrc
..Mot. 502.383
rgla. a
Jan. 1 to Rot. 30 4.665.001
JolT 1 to Not. 30 3,360,056
518,637
4,568.675
8.365.816
83.116
174.358
79.335
863,143
7.183,149
313,649
1.464.958
856.563
1895.
a
90,360
467,648
801.344
17.8)4
86.374
86.065
313.339
5,039,848
2,730.707
16,007
8 1.563
44.533
1.008,066
6,606.436
240.334
1,105,763
883,056
7,335
11,070
110,110
17.810
397.157
3.037,284
1,505.327
1.140.600
6.000
4.623
81,359
3.883
296.442
3.851.369
1.421.338
1.336.335
Oaot. H. T. 4 Wealorn- „, „„
Jal7 1 to 8spt. 30.... 21,944
Our. AttaTannah. ..Oct 42,338
Jan. 1 to Oct. 31 466,226
Jolyl toOot.31 141,273
Ohaa. AOblo.a Not. 875,035
Jaa. 1 to Not. 30 9,856.374
July 1 to Nut. 30 4,839,710
Ohio. Burl. AQalii.b.. Not 8.833.309
Jan. 1 to NOT. 30 31.321.103 30,736,470 11.689,810 11,389,719
aile.K.Aet. P.a...Nor. 3.738.520 3.416,637 1,255,629 1,<;53,R27
Jan. 1 to Not SO 38,781.506 27.843,344 10,646,291 11,623,285
JalT 1 to Not. 30 14,167,404 15,303.069 5,543.868 6,665,735
OlaTe.OaDtoD A8o..Nor. 56,154 61,090 6.071
Jan. 1 to Not. 30 651,381 622.343 135,670
JiUr I to Not. 30 323,904
OlaT.aill.O.ASt.L.a.l(oT. 1,019,343
Jan. 1 to Not. 30 11,807,014 13.817,280
July 1 to Nov. 30 5.i31,974 6.223.071
Paorta A Eaat'n a..NoT. 114,394
Jan. 1 to Not. 30 1,5^3,023
Jolyl to Not. 30 682.356
Brto Not. 3.874.827
Jan. 1 to Njt. 80.
Deo. 1 to Not. 30.
81,821
36.941
439.859
136.503
889.686
8.363.705
4.274.849
3.204,937
324,486
1.2}2,632
168.972
1,820.103
881.101
3.938.976
.28.563,958 28.115.395
.31.032,685 30.348.755
Pt. Worth A Rlo Qr..Oot.
Jan. 1 toOot.31
38.607
962,503
Oa.taoatb. A Fla. * . ..Not. 74.650
Jan. 1 to Not. 30 805,616
JuIt 1 to Not. 30 380.375
towa Central. b Not. 125.233
Jan. 1 to Not. 30 1.536.770
July 1 to Not. 30 633.337
Minn. A St. Lool*. . ..Not. 170,194
Jan. 1 to Not. 30. ... 1.830.003
JolT 1 to Not. 30 932.723
Nalaon A Ft. ShepUNoT. 6.895
North. Central.b Not. 5^1.397
Jan. 1 to Not. 80 5.766.482
Oreepn Imp. Oo.a....Oat 377.383
Jan. 1 to Oct. 31 2,730,563
Deo. 1 to Oot. 81 3,960.390
OrecoD BB. A NaT.. Wot. 471.340
Paoltto MaU Not. 324.051
Jan. 1 to Not. 30 3,579.614
M«y ItoNOT. 30 3.242.012
PannaylTanla—
Una* directly operated—
Baatot PltU.AE.. Not. 5.246,424
53,758
308,663
76,100
751,121
364.613
163.415
1,519,412
786.942
195.196
1,815,123
981,573
3.521
584,3 iS
5,946,844
299,381
a.709,?27
2,986,523
332,5 73
340,331
3.987.981
2.517.669
58.582
248,562
2,788.050
1,334,530
10,629
329.325
132,348
797.862
7.814.341
8,420,583
18.460
85.916
•26,254
* 200,8 99
*133,415
30.462
527.313
207.967
72,841
73J,697
418.350
3.430
169.641
1,513.207
56.536
297,561
2i3,053
842,411
5 1,83 k
503,70T
363,744
15.089
131,924
31,771
834.571
8.253.243
1.657.912
37,588
463.910
221.631
766.618
7.089.698
7,591.550
32,083
101,092
33,914
339.331
144,703
60.398
549.610
309.460
92.040
772,267
446.644
530
179.878
1,762.076
4!.163
329.734
351.637
61.847
727.955
498,036
5.877.624 1,796,2 53 2.009.058
Jan 1 to Nov 30... 56,904.272 53.987.573 16,565.471 17.983.171
West of PilU AG. Not. Deo. 1,026,800
Jan. 1 to Nov. 30... Dee. 3,829,700
All line* operated—
Baatot Pitta AE..Not. Deo. 841.100
Jan. 1 to Not. 30... Deo.2,800.SOO
Weetor Pltt«.AE .Not. Deo.1.033,300
Jan. 1 to Not. 30... nd0.2,95S.400
Phil. Baad. AH.Eair .Not. 54,262
Jan. I to Nut. 30 63:.292
Blo Qr'nde South..b..NoT. 37,417
Jan. 1 to Not. 30 415.535
July 1 to Not. 30 196.034
Dao. 562,200
Deo.1.396.900
Deo. 287.400
Dea.2,214.800
Dao. 593,900
Deo. 1.868.590
•aa Ant. A Aran. P. .Not.
Jan. 1 to Hot. 80. ...
•ar. Pla. A Weit.b. .Oot.
Jan. 1 to Oot. 31
July 1 toOoi. 31 ....
8UTer8p. Ooala AO..Oet.
Jan. 1 to Oot. 31
Joly I to Oot. 81
BoathernRallway.a .Not
Jan. 1 to Not. 30.
July 1 toNuT. 3J.
233.004
1.399.017
310,441
3,322.563
1.057.108
16,832
161,519
51,117
1.681.178
.16,39.■S,.^48 16;93i;9S8
. 8.138.791 8.581,591
69.89 3
706.365
54.094
406,391
222,919
167.935
1.791,069
312,759
2.796.348
1,093.476
11.617
151.151
52.860
1.387,311
Spokane PalU A No .. Not. 39.556
Jan. 1 to Not. 3>> 336.551
July 1 to Not. SO 303,751
Wabaah.b Not. 905.311
Jan. 1 to Nov. 80.
July 1 to Not. 30.
W«at.N.Y.APenn.b .Not
Jan. 1 to Nut. 30. ...
July 1 to Not. 30
29.124
254.213
140,308
1,068,553
10.998.529 11.580.747
5.163,683 6.907,737
251.375 314,053
2.810.165 3,061,442
1,441,951 1,568.930
3.539
175.283
20,490
173,196
91,337
85,568
605,670
105,225
709.271
216.979
9.53)
83,168
23,106
622.43 i
4,812.342
2.716.071
25.975
223..593
119.655
328,651
3.046.62 T
1.609,060
88.421
993.H15
569,532
13,318 -
134.344
31.240
209,777
127.159
58,618
493.132
103.945
825.693
2i«1.631
4.101
51,177
19,227
715.050
4.810,238
2,892,893
13.670
145,085
88,905
269.179
3,199.336
1,838.483
94.137
312.658
456.001
• NatearnloK* hare (iTdn are a'ter de laotlai; taxes,
b Net •arolnn here eiTeo are bnrurA dAlnotlnt t»xe«.
* Prtor to July 1, 1896, taxei woro liioliikvl la ex|)ense8 for 1893
aoly, but ulnoa then they h«Te been laoluded for both 1836 and 189S.
iBtoroRt Charros Aod Sorplas.— The following roada, in
addition to their groa* and net earnings given in the toregoingt
alao report chargea for intereat, Ao., with the surplus or deflolt
above or balow thoas ohargea.
jANLAiY 2, 18i7.1
THR CHRONICLE.
39
r-Inter't, r«n(a(f , <*«.-% >—B<u. of Ntt Xarru ->
1S96. 1895. 1896. 1895.
Axutt. $ S $ S
Ohlc. Bnrl.A QalnOT..lfOT. 880.000 872,954 280,600 46!>,381
Jaa. 1 toSov. 30 9,6J0,000 9,602,499 2,009,810 1,787.220
aer.01n.OI».*at.L..Nor. 240,768 211,236 7.791 93,285
July 1 to Nov. 3'> 1,170,830 1,181,674 159,700 476,238
Peoria* Eastern. ..N'oT. 36,802 36,80J <ler.26,l73 786
July 1 to .VOT 30 181,008 134,003 def.51,660 37,623
BI> Grande South. .Sot. 11,107 14,313 6,383 16,892
July 1 to Noy. 30 70,538 71,833 20,851 55,327
NOBTHEBN PACIFIC.
Nov., 1896. Stfl. 1 to Xov. 30.
Qroii eaminKS »1,682,395 $6,014,407
OjwrallnKfjpeDaes 985,213 3,045,652
Net earnioKS $747,183 $3,968,755
Operailngohaiges.taxea and rentals... 50,956 149,474
KetoperatloBlrcome $696,226 $3,819,281
Mlscel.iioame not iaolud'g land *a!M.. 30,373 55,026
Total net Income $716,59_9 $3,874,307
The operating expenses from September 1, 1896, Include a propor-
tionate part of the eatlmated taxes and rail and tie renenalt (or the
current Otoal year ol the new eompauy, being tea months to July 1,
1897.
STREET BA.ILWA.YS kSD TRACTION COXPANIES.
The foUomng table shows the gross earaings for the latest
period of all street rail ways from which we are able to obtain
weekly or monthly returns. The arrangement of the table ip
the same as that for the steam roada — that is, the first two
columns of figures give the gross earnings for the latest
week or month, and the last two columns the earnings foi
the calendar year from January 1 to and including such latest
week or month,
STREET RAILWAYS A.SO TRiOTIOBr OOMPAWIES.
Obom
SAsnxos.
Lalal &rou Xamingt.
Jan, 1 (o Lalett Dat*
Week or Mo 189S. 1895
Akron Bed I'd 4 Cley.
Akron St. Rv.a 111. Oo.
Allenfn i Leh. 1 r't'n
Amsterdam St. By...
Anders'DSt. Ry.(Iud.)
Atlanta Ballway
Aorora St. Ry. (Ills.).
Baltimore Traction. .
Bath St. By. (N. Y.).
Bay Cities Coniol —
Blnghamton St. By..
Bitokeport Traction
BrooKton Con. St. By.
Brooklyn Elevated..
Br'klyn Bap.Tr. Co.—
Brooklyn Helfchta..
Br'klyn (ju'ns (b Sat
Total tor system
■oflalo By
Chester Traction —
Ohio. & So. Side R.T..
Cln. Hewport A Coy. .
Ctty £leo. (Bome,Qa.)
OleyelandOityBy...
Qeyeland Sleotrio...
Cleve. Paluv.AB....
Oolombus St. By. (O.)
Coney Island <x B'lyn.
OonaoL Traction. N.J
DanT. Gas EL Light A
Street By
OaytOD Traction
Denver Con. Tramw
Detroit By
DuluthBt. By
£nterp. BB. (Chas'n.
Srte Elec. Uotor Co..
Tort Wayne ConsoL .
Xovember.
November.
May
Nov ember.
October. ..
November.
November.
November.
November.
November.
November.
November.
November.
July....
November.
November.
November.
Septemb'r.
November.
November.
August
November.
Aogust —
November.
November,
let wkOeo.
November.
Septemb'r.
November.
August
Noveml>6r
November.
November.
July
November.
July
November.
1896.
1895.
$ $ $
6.19? 5,166 90.1751
16,180 15,67t' 191,1181 168,733
21,234 19,119 80,744! 72,223
3,92t. 3,828 45,195 42,833
4.665 3,309
6,171 8.768
4,971 8,650| I
9S.804 94,748 1,148,712 1,060.209
1,424 1,493; 19,022 19,214
6,51 Oi 6,78*- 83,475 81,669
10,233 9,51.^! 132.315 116,219
23,841 21,4271 396,606 278,811
23,899 20,379 393,929 252,355
137,910 159,7451,040.536 1,282,454
360,047 334,924 4,030,943 8,536.622
59.311 51,48b 659.707 560,674
419,358 386,407 4,690,650 4,097,396
1,081,237 985.799
191,354
14.632
14,9011
63,885
62,736
57,437!
62,976 1
1,607'
113,394:100,062
126,058 180,137
5,382
11,096
81.868
ealreston atyRy..
BarUmer Hotaawk II
ion * r'Uort El. By October. .
Btng'm (M asa.) S. By. July.
Hooslok By October.
Houston City St. By.. October. .
Interstate ConsoL ol
North Attleboro... November.
Kingston City Ry November.
Lehl)?h Traction November,
London St Ry. (Can.) November.
LoulsTilleB^illway... August...
Lowell Law. AHav.. November.
Lynn A Boston 2d wkDec.
Metrop. (Kansas Olty I SdwkDeo.
Montgomery St. By November.
Montreal Street By. . . iNovember.
naasaa Elec. (B'klyn) November.
Vewbargh Electric... jNovember,
Vew England St.— I
Wlnohester Ave iNovember.
Plym'th A Kingston November.
Total November.
FewHavenACentcev Ootolwr. ..
■ew London St. By.. November.
Bew Orleans Traotlor {October.
N. Y. A Queens Cy... iNoyember.
OgdensburgSt. By. iNorembrr.
Paterson Ry November.
Plttsb.rt.8ab. El.Ry. November.
Po'keepaleAWapp.P.iOctobnr. ..
Bivld By. (Detroit).. jSeptemb'r.
Boanoka StreeL lAutnut
Boobeater By Septemb'r.
■ebnylkill Traction.. November.
■ebuylklU Val. Trao. November.
Boiranton A Flttston. . Novemlier.
Reran ton Traction. ... November.
Second Ave. (Pltt«b.)| November.
Bloax CItyTraotlon JNovember.
lyraooaetE'sV^ldeBy November.
■ l — u aeBap. Tr. Ry.{ November.
lirw Hante Kl'c. By. lOftober. . .
9,309
5.914
53,059
81,763
16,732
4,381
10.441
19,282
16,632
8,290
9,800
601
18,714
9,736
4.297
9,360
6,558
103.061
28,482
23,311
31.910
4.803
100,787
119,943
5,121
14,677
2,190
16,867
4,562
3.042
104.185
28,100
1,342
33,610
1,321
6,352
8,430
3392
"8',251
4.533
5,477
30,201
36,804
6.183
3,741
31,032
13,450
13,036
22,316
345,588
8,84»
589,896
319,634!
3,092,756
54,558
19.30;
4,857
11,242
18,012
15,848
3,302
17346
8,904
4.083
639.2301
436,377
18,825
762,634
190,352
659,491
405,371
688,188
1,499,366 l,367.7t7
666,614
888,325
313,067
139',i¥6
95,514
196,355
85,871
■■7,283
114,020
105,647
29,207
20,265
32,005
4,1S«
93,451
26,602
5,793
15.391
3,029
17,320
4.769
3,718
119,877
111,236
86,511
879,834
586,o23
858,069
1,869,636
858,845
316,505
137.5b'i
66,790
300,487
392.640
1,380.170 1,339.413
1,691,826 1,656.371
52,5951 46,281
1,172,831 1,049,611
24,854
7,289
*4,di23
'8,223
4,0(8
36.685
86,147
6,829
3,803
33,922
11,997
329,023
31,427
260,450
47,364
50,347
1,108,668
lAVlSO
293,722
14,442
74,057
"37,M(i
652,373
00,119
58,648
316.540
28,377
244.917
10.252
48,351
1,106,286
373,123
Oross
El.BNINaS.
Third Ave. (N.Y.)..
Toronto Ry
Twin City Rap. Ttau.
Qnlon (N. Bedford)...
United Tract. (Prov.)
Unit. Trac. (Reading)
Wakefield & stotie....
Waterbury Traction..
Wheeling Railway...
Willtesb. A Wy. VaUej
Wlloiington St. By...
Worcester Consol
Worcester Sub.St. By.
Latest Oroit Samings.
WeekorXo 1898.
Septemb'r.
Novem)>er.
November.
November.
November.
November.
November.
November.
November.
November.
Septemb'r.
October. . .
Septemb'r.
$
75',557
159,33.^
15,,Tl2
131,643
12,142
3,592
22,213
12,716
41, 2t-
3,458
40,109
14.291
1895.
78,447
162.666
15,10T
133,628
13,116
3,835
21,88tv
12.92S
39,101
3.092
39,04b
Jan. 1 to Latest Dale
1896.
2,000,858
904,354
1,866.410
192,271
1,580,923
176,386
53,175
223,593
152.919
461,850
1895.
1,998,723
902,498
1,796,352
169,953
1,495,031
172,003
51,758
322,508
137,377
407,105
Street Ballway Net Earainffs.— The following table gives
the returns of Street railway gross and net earnings received
this week. In reporting these net earaings for the street rail-
ways, we adopt the same plan as that for the steam roads—
that ia, we print each week all the returns received that
week, but once a month (on the third or the fourth Satur-
day) we bring together all the roads furnishing returns, and'
the latest statement of this kind will be found in the
Chbonicle of December 19, 1896. The next will appear in
the issue of January 23, 1897.
-Brost Earnings.-
■ Aet Eamingi.—^
1896. 1895.
1896. 1895,
Koadt. $ $
Danv.Oaa EL-L.&3t.By.Sov. 9,209 8,845 4,374 8,771
Daluth Street By.. . .Oct. 18,441 19,797 9,181 10,692
Jan. 1 to Oct. 31 184,254 1-7,683 97.200 i'7,461
Twin OltyBapidTr.. Not. 159,335 162,666 83,625 94,817
Jan. 1 to Nov. 30 1,866,410 1,7^6.352 1,065,802 1,023,131
ANNUAL REPORTS.
320,755
464,249
71,739
34,619
137,764
23,979
647,065
84,205
44,546
276',il7
319,255
71,783
120,771
Annaal Reports. — The following is an index to all annui 1
reports of steam railroads, street railways and miscellaneous
companies which have been published since |||l last editions
of the Investors' and Street Railway S
This index does not include reports in
BlILBOAD
Volumes
RlILBOADS AXD MI8CEL. CO'S.
Volume 63— Page.
Akron A cnilcago Junction 1007
American Cotton Oil 1007. 1019
American Type Founders 792
A natxmda Copper Mining 1166
Atch. Topeka A 8anU Fe (8 mos.). 791
Baltimore AOhio.. 801.921. 925
Do Little's report. 1000, 1040, 1062
B. AO.Sonlbwestem 1000,1020
AuBhloA Sosqaehanna 11&<
Canada Southern 1136
Centnl of OeorgU By.. 1180. llbi, 1160
CentralOhIo 1007
Chicago Burl. A Qnlncy 877
Chic Juno. By«. i Un. 8tk. Yds.... S78
Chic. Peoria A St. Louis (6 mos.).. 791
Cincinnati Portmiouth & VirginU. 791
Cleveland Akron A Columbus 1112
Cleveland Canton i l^ouihcm 1160
Cleveland Terminals Vnlloy 791
Cleveland A Cincinnati Midland ..1007
Columbna Sandusky A II 836
Bvansville A Indianapolis H78
Interoceanic of Mexico 1113
Iron teamboatCo 966
Kanawha A Michigan 792
Kan. City Ft. Scott A Memp 1156
Kansas City Memphis AS 11S«
Lake Shore A Michigan Sontbem.ll&6
Lehigh A Hudson Biver 1111
Long Island RR 836
ManhatUn (Elevated) Rr 876
Mergentbaler Linotype Co
Mexican Northern..
1167
792
NTS,
rCHRONICLK.
'fl.. CO'SCOon.)
>' Page.
Mexican SoutllV (vi- HU
MlchlKan Cuntt-.^A-. 11S5
Mlsiouri Paciflo 877
Mobile Jl BInulniibam Hit
Newark Somerset A Strait8Ville..'.1008
Nortberri Pacinc 835, 1060
Nortbern RK. of New Jersey 837
Penn. Heat Light 4 Power 798
PiltsburK & Western 1111
Sandusky .MaD.sleld A Newark 1008
South Carolina & Georgia 966
Southern Paciflc 886
Sullivan County 877
Vermont Valley 677
Welsbach Commercial Co 1081
WbeeliiiK & I.>aku Erie 70*
Wlimink'ton Columbia A Aug 1166
Wilmington & WelUon 1165
Wisconsin Central 921
STREET BAILWATB.
Brockton Consolidated 1008
Buffalo Ry 1156
Globe St. Rt. (Fall River) 1061
lx)well Lawrence A Haverhill 1061
Lowell A Suburban 1061
Lynn A Boston 1007, 111»
North Shore Traction 1118
Rochester Ry 066
Stirlnttfleid (Mass.) St. Ry 1061
Union St. Hy. (New Bedford) 1061
Union Trai-tlon Co., Phil 106*
West End St. Sy. (Boston} 060
Cleveland Lorain * ITiNellnff Balliray.
("Report for the year ending Jttne SO, 1896. J
President M. D. Woodford says in part:
Development o] Bviineis. — The new industries put into suo-
ceaaful operation during the year include the mammoth steel
works of the JofasBon Co. at Lorain, the blast furnace of the
Penn Iron & Coal Co. and the tin plate mill of the Reeves
Iron Co. at Canal Dover, while the various sewer pipe and fire
brick works contiguous to the linet have added largely to
their capacity. There has been extensive development of
coal lands in what are known aa the Tuscarawas and Mass-
iUon district*. The development in these districts not only
adds greatly to the company's coal tonnage but, on account
of the quality of the coal and the short haul to the lakes and
to Cleveland, places the company in a very strong competitive
position. These new industries and developments have ne-
cessitated increased facilities in the way of spur tracks and
sidings on the part of the railway company, and other im-
provements requiring heavy expenditures; but it is gratifying
to be able to report that the earnings of the company, botE
gross and net, have been the largest in its bintory, notwith-
standing the low rates that have prevailed, and that the full
benefit of many of the improvements above cited did not
accrue during the period under consideration.
The physical condition of the property has been improved,
and the roadway and equipment are in good condi'ion for the
economical carrying of a large tonnag". Strong efforts are
being made, with every probability of S'jcoess, to establish
equitable rates for carrying coal, and with a general revival of
business the future prospecta of the company are very bright.
Improvements.— The extensive improvements in progress
for the past two years have now been practically completed.
The following are specified :
The modern ore hoisting plant has been flnlshed at Lorain, In con-
neotlon with which addtironal land has been purchased for the storage
oforeandSOOfeetof dock has bean rsconstruoted. Oar storage oa-
40
THE GflRONlGLK
fVOU LXIV.
Iratf 4*M AW «<>■>
iiBnT
-^ •^••toJiU4f»*r«»««l *'»»••;
.Ur««.JOO to««MtotM« okr. »o4
Tt^i ri r«. ••< .«« xbiw ooapUvd for tb« Cbeoxiols
•HMbvsHmm l«poftuU (Mli for Ika TMrt •idiog Juo* 80,
HNTiW. IMt MiJ I>«e. tl. I«l. Md tiM Mratnip and oc-
« for ilM toti iwoSm*! ywn:
!••».
ii»t.
tTM*l.»W tM.4M.Jtt >M.>M.jM tOJ.SM.
MV4II
US.TO0
4M«M».
t-tSata.
t.tM.TM
ITMM
II7.«T»
■tUcU.
I,707.4»T
IMI
...— .. 50
•.OIS.114
l,St4.179
B4«.74e
'574 dU
3 i7«U
•443,751
•364.000
17,0U
lo.nf
100,000
•959,036
•401,418
1.500
•403,938
•30^,900
0,057
•373,157
• 180,771
a*>M«aBt Jau 30, lt9«, •SSS,-
•<«MM<«M'BMl4
4. ^ 1,041.«I4
••,•30
71^5
trmm iMrtm mm-
I Mi4 la4l«M-t( lU.«t4
ttfmmm.eamt'm 48.010
■rawfe MMM ... •7.841
• IT r —o rj .;... 39.157
....•10.IS8.ua
-▼. •«. • 509.
■ ■•T J0«« 30, 18^.
UatUUiu
Osaaon atoek .......
I>i«r*rr«d (task
0.T r. * W. Rf. aart-
(i(a(Mad«.. _
O. L-AW. BrUtalca
toad*
O. U A W. Br., (cnaral
aart«»c* toads. ...
Oar tnav aartaa "A"-.
BtlUpayabla
^adllad bItU
I^tor. Jaaa par-reUa.
iBoaaa aoaaaat ...
•8.000,000
5.000,000
- 700,000
4.300,000
400.000
805,000
54,700
103.473
59,817
353,147
Total „ ....•lH,SS5,14e
I
GENERAL INVESTMENT NEWS.
ftMMAAlMtlou. Ble. -UalUt DUa<u to Default*. Reor-
.Miti/iow FlMo. PU0i»«Mt of Omrdtu Coupoiu, Bte.-\.\l
Faoii of Iklo a«uu« oppoArioc aJiMM lb* pabUooUoa of the Iwt
JMAAt of tk' UrVaBIOH* AOd STRBR B^(LW4T Scpplbhkxts
mtf bo nadUf Covad Of omaiu uf tti» followinic index. Tliis
iMMtloMAof iaolado iBAttor m tonUr'* OUKoncLB.
fW- «0M« tmoB eompamim mt tad&r U CHEOXicLior
M, U9S.
BULaOAD Alio KUOKL. Oo't (Oon.t
rM iMM 4 i— /H«i»e.
ift^?*JlB?T«"»^* K»T W.Mlr. f»t
" <n! M»1f*»*"«™- ••''*4-< 1*0
ftj«»"4 V. •^' f*«
A. A Okwaao.rM'f 7r.4, «-<i
....MitllM
nilllM
- -Itmui.imt
iM.I>aal .mat. n\
■MU.n»i)
■•o'ltM
■ "^.luo
.<««#.iv^ oaf
■4 UafU A laa Fnw<taao-K. a A
^oMAwMUra .«>pM«u. t«a< aatr.
•L bata A tuM PruetMO-K
O. Aja«ihwMi*ra
U TtodaiiK A T. H
MTMon^aniPwMo
la ,^._.«j«lll«
if>K>«.ATtk,aM, Ml
.>r|.ri<a.io«
fr»r.»il.lOl;
Bin.(0&D*HOl(isoBuOo'a. (Oaa.)
Valum* 08— Pmat.
BaloB Parlfie coIUt. lr.norp.lU4
Blta4 8tti«sO>r. rMff.piaa.liaO
STRtBT RAILWATB.
. ..miitnil.llM
"■'■ ■'-- uw
114
.150
1114
.. r«OT.1159
I.Knr*iit«r) ....rKrr.MS, lOIl
KIcctrlr Mli.1011
llaC'outal. Ht .Mlitl01l,10M
tor (111 » Kt. ra«vr. 970
nu Kt. a Watar laJt.llM
Sbattaaonn KIi"Hrln
hlo. Ail" -"■• " "
CoaaoL Pi
paaaaos . '
NAltlTill.' -
. . > Ky. (11...
»a«i«li Mr
Tarra Haul
TanaHMK v i .Jtmy ',
da ••»n«u<ca<ui4/ar3W, lOiw,
da MatTaili f«*r«.l<M4
AaiarlOAO Hi^Ar fi«^*l»x.— Additional Tfootton Stock
PlwtAdJed.— Thx dsilr papera rep>rt thai tbe oomponT bA«
•eour«d MO ahAroa of Woolooa Spico CoonpAoy •lock for
fMA.OOO, which leores only 60 ahares uopurcbaaed. This
makM A totAl ioTMtment of tl. 003.000 for the 1,740
ahircA aoeured. The Wijoisoi Cxnpto/ if atid to hsvo been
oae of ihn moit retoA'-kable dividend pay ioK properties in the
coontry.— V. 63, p. 1157,
▲■erlcAA Ttibaeco Go.— Dividend on Common Stock. — On
Wa lomday, in additi >a to the rexulor quarterly diTidend of 9
rir cent on the preferrtxl atook, wm declAred a dividend of
percent on the comoion atock. Qatrterly dividends of 8
per cant each w^re ptid on thia atock frjm 1891 lo 1895 in-
cluaive, bui in 1896 thn only pAyment waa that iti May, of i
per oonl in o%th and iO per cent in aorip — V. 63. p 0S7.
.it«hl80B TopokB a SbbU Fe Rr.— ''hlcAro ftWi^Htem !■-
dlaia RK.—t)ui7 /or Rteeiver for Kanaai Lintu Dismi$ied. — In
the Disiriot Court St OikAlooaa, K\o., on Dec. 3'4,Ju'l|;e Myers
reacinded the order he ifAve on ?fov. 6 in an ex parte hearing
Appointing a receiver for the Atchison lines in the State of
KinsBs. The judge decider that tbe act knonrn as tbe Allen
L«nd law under which the nuit was brought does not apply to
railroAds. and thit iha right of way of a railroad is not real
estate in thd meaoinK of the statute.
Tra/i»Vr of Land in Chicago.— Tbe Cbicai;o & Western In-
diana RR. Co. has transferred to the Atchison three tracts of
land along its right of way for a oonaid^ration of |33 ),8S5, in
settlement of a controversy which has b>>«o pending for some
time. Tbe chief portion of the property id the track lying be-
tween D<>arborn and Clark streets and between Fifteenth and
Sixt<^nth streets, tbe tract containing 83,593 square feet. Also
a smaller piece In Fifteenth Street, ontaininR 13. S65 square
feok, and another portion in Fourteenth Street, containing 1 ,266
•quire feet. All this prop'^rty is occupied as railroad vards.
latptctionof Oonpany's Lines. — Mr. Thotnis P. Fowler,
Preaidont of the New York Oatari) ft ^^■•Atern Ry.. and a di-
rector of the Atchisoi, referring to an inspection of the latter
road, frnoi which he has j.ist returned, is reported as saying :
Uaota or ths mala lloa of tbe Atoblaoa Oompany is fully up to tha
hlitbaat Eastaro st^odarcl. Tbe tisa ihrouith'iut art Id Ruad life and
much of tbe traek la ballasted arlth brokeo aio-io, nr itoo>l Kravel.
Maajr lullaa of heavy steal rails h ive been laid dii i ag tbe reoel versbl p
aodalneetbe rnorirsaicttlon. a'ld tbii work will be resumed in tha
aprin(. and oootlnued until all of tbe main line and brinobes arc up
to the niKb standard ad(>pto<l bf tbU e.>mpanT. These Impr.ivements
•P) b^B( obarced U> nperallni; exprtnaes, aa well aa m iny additions to
■ itire i>nurar Aol e'|iii:>mprit. rh<oompaar la served by an effloient
andcip^iilH corps of ofHniala. from one end of ib.^ system to the
otbar. an. I there li no doubt, in my mind, at lu Its ability hereafter to
earn its Bzed ch trees even In times of sreat business depreaslon.
Cbairmaa Walker says that over 400 miles of the company's
tnfk is Btoie ballaated and that there are at least 600 miles of
ro.d ov4r which trains cin be ran at as hi<h a speed as 60
milea an hour. The physical condition of the property has
been brought to suci a scundard that operating expenses in
ease nf nnel can be reduced to a pnrcenti'^o not hitherto at-
tained. The ootnpituy is now earning a surpluj whicb, it is
thought, will warrant the payment of something in tbe present
BsoAl year on adjustment bonds.— V. 63, p. 1034; V, 68, p. 1062.
Atlaatlc * PaoIBc RR.— Reorj?ani>afion iVofice.— The
American and foreign c.iratnit.teqf for the 4 p'>r cent guaran-
teed trust gold bonds announce that they have received de-
posits of more than 93 par 04it of the entire issu?. Decrees of
forecloeure of the first mortgage up in the Western Division
have been entered, and it is expeoted that the road will be
sold At an early date, after which the committee will act in
ooQoert for the protection of the bonds deposited. Meanwhile
tha American committee will continue to receive deposita
with the State Trust Co., New York, and the Shawmut Na-
tional Bink, B}tton, upon the payment of $50 per bond until
Jan. 14, after which no further bonds will be received and
bonds not deposited up to that dtte will not be entitled to the
baneflta of the reorganizitin.— V. 63, p. 1157.
Atlantic Short Line H^.—Sold in foreclosure.— This road
waa aold under foreclosure at Swainsboro. Oa., December 17.
for $50,000 to A. F. Diley. of Wrightsville. Oa., representing
tha WrighUvilla & Tennille RR. The roid was proj -oted to
ran from Ifacaa to Savannah, (}a., 18) miles, of wbioh thera
are 82 mile* completed from Bruron east, but the line baa
oarer been operated.— V. 63, p. 967.
Baltloiore • Ohio RR. -Coupon Payntenfj.— The follow -
log int«roat, due Jan. 1, 1897, is oaing pud by the receivers:
^^*3~ — /ntaraat. tr%«tc vnyable.
. SS,4<>..Balt.. MoroaatlleTrast ADsp. Co.
aoi.000.. In London.
50.9S0 .New Vork, VerrallT* * Co.
SO T»6 i "u'f •• Pnrobaaed br VarmU ye Ul
•^ i Oo. and Spsrer A Co.
lOl.OOO .N. v., Merosntlls Tnut Oo.
a.it8..BalUmor«, Tresaarar.
I,4at.. do. do.
B. AO.CarTraai bon4a
rttla. ACeoaallar'laeoaaola. of '7S..
Do. latM.ot'^SexL
Do. Do unez.
_- iTsra'oartruaUof Jalyl,l»»«.
WlBotostar A Potoawo boads
-r'aatSlia*'"***"'" •'^''
Jahuawy 2 1867.]
THE CHRONICLE.
41
Purchase of Car Trust Bonds. — The Finance Company of
Penes; Ivania at its office in Pailadelpbia will purcbasa at par
on preseniatioa the 1250,000 B. & O. car trust bond?, series
"K," due Jan. 1, 1897.— V. 63, p. 1114.
Bjstna & Loirell tt^.—Kefunding Bonds.— ^a $300,000
Liwell & Lnvr-iiice binds will tai'-ure 0;t. 1. 1897, the stock-
holders will 0* a-iked at the annual rn-»»tiag to aoorovft an
issue of $2)J,000 tflrenty year 4h for refuodiae;. — V. 63, p. 103*.
Urooklja Oitjr BR.— .V^u) WUliimiburg & Flatbush Bonds
Maturing.— The tiW.OOO ot Seiv7 WiUinaaa-^ura & Flatbush 7
per ctnt bonds due Feb. 1, 1897, will be purchased at par and
interest to maturity on priwentati.in at the L mu I-tlaad L^an
& Trust Co. or the First National Bank of Brooklyn.— V. 63,
p. 68.
Barlfa^ton ((a.) El'-ctric Rj.— Foreclosure Suit.— The
American L >an & Trust Co. of B iiton, as mortgage trustee,
has brought 8ait to foreclose the tirst uiortijai!:>» for $300,000,
interest on nbicb went to default Jan. 1. 1896. — V. fi2, p. 233.
Cape Pear & Tadbin Valley RH.— Decree of Sale Ex-
pectea Jan. '4— A press dispatch from, Winston, N. C, says
that Jud{e Simonton has directed the receiver of the ^Jorth
State Improvem-^nt Co. to appear before him in Wilmington,
N. C , on J-tD. 14, at which time he proposes to issue a decree
for the sale of the road —V. 63, p. 1009.
Central Car Trogt Co.— Payment of Bonds. — A.11 bonds
and coupons due Jan. 1, 1897. will be paid on Jan. 3 at the
office of E. W. Clark & Co., Philadelphia.
Central Vermoot RR.— Default— Notice to Bondholders.—
In anticipation of d-faulc Jan. I, 1897, on the coupons of the
Consolidated RR. of Vermont 5 per cent bonds, and in order
to protect the bondholdern' interests, the bondholders' com-
mittee, B. P. Cheney, Chairman, calls for the deoosit of these
bonds with the Americin Loan & Trust Company on or before
Jan. 5, aft»-r which date bonds will be received only on such
terms as the committee may fix,— V. 63, p. 1116.
Chicago « S'>ath S14e Rapid Transit.— Soath Side Ele-
Tated BK. — Transfer of Property -Name of Nei» Company. —
As stated in the Chronicle of Oct. 3, page 601. the sale of ihe
Chicago & South Side Rripid Transit Company's property to
the bondhiilders' committee was conHrmed, with the pro-
vision tha' if within ninety days an off t of at least $350,000
in excess of the price bid by the committee should be made,
another tal-* bhould take place. The ninety days having
elapsed and no such bid having been made, the property has
been, or ia about to be, transferred to the committee. The
title of the reorganized company to be formed under the plan
published last week will, it is sail, be the South Side Elevated
Railroad Company.— V. 63 p. 1158.
CInclaaatI Jaeksnn * Macklnair Rj.— Plan itodified.—la
pursuanee of the power conferred by the agreement and plan
of reorganization dated Dec. 10, 1895 (in V. 61, p. 1106),
said agreement and plan have been modified. By the modi-
fication Frederic P. Olcott, Calvin S. Brice and George R.
Sheldon are constituted a reorganizUioa committee to carry
out the plan as amended. The amended plan provides sub-
btanlially as foUowt:
Properly may be duuted into lw> OttM'vni.— The oommlttea thall
have pnwrr aaJnuihnrlly tn divlilA the proparir wbsn puruha«e<I Into
two dlTliDnn: oii«i laoludinc the railway from *dln»n Junction,
MIcblKiiD, noiitti. HDd th • other looliidlon the r»llw»v exioo.llu« from
Toledo la a weiurly direction. In uMe more th«u one oorp.irarloa
■ball be or(i»te.| ibf oummlitee shall make proi>er provUloo to vest In
■uch one of said cnrporatloos the title to tUe capital stock of tUe other
ootporatlon or oorporatloos.
New Seeurilie*.— T:\it mila oorporatlon hildlnc luob titU shall Issue.
Oamm'tn H .ek 93,000,000
[The plan of Deo. 10, 1895. pruvlde* that of this thpre shall
be used to retire Vie.SOO.OOO old stock at 20 per cent j.i6o,o<x?]
Pre/«rr«f ((oc*. entitled to annual dividewla (if earned) at
tne rate i.f 5 per cent per annatn, nou-uuoiulatlve, the
oertifleates to b« *al>)ect to be retired by iheoampanr
luulB( tbe •■me on ninety days' notioe by advertise'
m«nt. at par or at sunb price leas than par as Cba bolder*
thereof may roneeot to rpoeive S.OOO.OOO
(The plan of n*«. 10. 1895. provMes that of ttal* amount
there iball be used to retire old first mottgafce bonds 4MS,ooo]
The plan of Dec. 10, 1895, provides for the issue also of the
following honds :
Eieh holder of—
First m irtu «e 4s tor $1,09 J...
CommoQ stock for $100 ...^ .,
JHr»/ mortgage 8 ^ere«n(.^0-year gold bonds at 910,000 per mile.
for Impruvementi, betterments and rolllog stock on
preseotllne 3,210,000
For aztenslooa to Olnolanatl. O.. Jacks in, Mich., or else-
where, at deemed advisable, additional amounu lO.OOOp.m
As to these bonds the amended plan provides :
The committee or the board of directors of the new company mar,
with tbe B*«aat of htlders of luit-thirds in amou'itof tlii preforr-'d
capital stook of aild miln ooriuratlon, mkko auoh chauicen »« ihey
may deem proper with r^'psot w the auiuuac of rhi irouuseduew
tlrst tnort»5ii<e. an 1 •■«« to thi property wnerouu tha »nni> shiU oonsil-
tul<iall"ri mil ii,., witi, renp't^c to the purpose* to which tli» bonds
aesured thereby may be applied.
Right to Sell.—Tho amended plan, in substantially the fol-
lowing terma. authoriz -s the sale of either division :
The committee or the board of directors of thi main corpora-
tion ahall have full power and authoilty to sell or dispose of such
one of aald dlvUlona as they may deam proper, or the stock rep-
reaentinic thr a.tme. fur such cooslderation as It or they may deem
laaaonable. approved by holders of preferred capital atooK "f aald
main oorporatlon to the a'nount of lua thirtlt of tba par value toereof ■
Tha prooee<li of any auob sale mty bi applied to rdtire preferred
stock of aald mal'i orpuratioi or miy be uieil for tlifl i{ener<l pur-
■oaea of aald main corooratlon a* the reorganlisaiiim ooin'nlttee while
It la In aziatenoe, and afterward as tha board of dIrKotors of said main
•orporatton, may determlae, aabject. however, to ratiUaatlun oy hold-
era of twO'ihlrdi la amount of tbe preferred atock.
Exchange of Seciiriiies.—U ader the plan of Dec. 10, 1896,
the holders of old securities are to be treated as follows :
- — And receives for — .
Tayi aa principal (t asiesem' I..
aueunent. Ooin ituck fref. stock.
„«" — .. *t.O0J
25 oeots. $20 .......^
Holders of certidsates of deo^sic are reqietted to present
their certilioaces t) be stamped with an a-mat t> ih^ midifi-
catioi. Sea notio in another caliirua. — V. 63, p. 1063:
Cincinnati .\e«yport k Corln^ton By.— Bonis Sold —
New Directors.-Oa Thursday, Dec, 34th, 1896, the oompmy
sold to a strong syndicate $500,00) of the seond m jrtgage
5 per cent bonds at 70 and interest, the c ladin.in being that
the control of the property must be given to tha syndicate for
two years. This has been accomplished and the new board
eleoted as follows :
Oh»8. Plelsohmann. Pr.>sldent of Market National Bank, Clnolnnat iL
Henry Feilmsn. Presidentlot Oltiz.'»n9 Vat. Bank. Covlnetoa, Ky J
C. Ernst, President of German fat. Bank, Covloifton Ky: Samuel
Pague, of II. & H. Poifiie <;o.; OUas. E. Orr, Piitst)urt'; H. P. KsUs
Cleveland; J. B. Forakar, Clnolnoatl.— T. 63, p. 1158.
Colambaa & Uockin? Coal St Iron.— Receiver and De-
fault.—Oa the application of the Biltimjre & Oiio RR., a
creditor of the Columbus & Hocking Coal & Iron Co., Judge
D. C. Badger, at Columbus, Ohio, on Saturday appointed Mr.
Jay O. Moss, the President of the company, to be its receiver.
Default on tne first mortgage bonds was made on January 1.
It if understood that the company will take advantage of the
receivership to reorganize on a lower basis of charges, giving
the bondholders for concession in interest additional property
under the mortgage.— V. 63, p. 968.
Commercial Cable.— iVeu; Bonds, — Referring to the iteia
published in last week's Chromcls regarding the authorised
issue of lao.OOO.OOO of 4 per cent bonds, we have now been
favored with the following additional particulars. The pres-
ent issue is to be 815,000,000. and is to be secured by a first
mortgage on the $15,000,000 capital stock of the Postal Tele-
graph-Cable Company and of its subsidiary companies, which
stock will be deposited with tbe Farmers' Loan & Trust Co.,.
the mortgage trustee, and cannot be withdrawa. The bonds
are to be dated Jan. 1, 1897, and will mature 500 years hence,
or Jan. 1, 2397. Tbe coupon bonds will be S 1,000 each and
the registered bonds $100, $500, $1,000, $5,000 and $10,000.
Their interest will be payable quarterly from Jan. 1, when
the virtual consolidation takfs effect.— V. 63, p. 1158.
Indianapolis D<3«atar « Weiitern By.— Decision Sustaining'
Validity of Reorganization.— Judge Vail, of the United States
Circuit Court, in the quo warranto proceedings of the People
vs. tbe organisation o: the present Indiana Decatur & Western
Ry. Co., handed down this week a decision overruling all the
poitits of the plaintiffs and sustaining the pleas of the reor-
ganized compinythat tbe consolidation of tha two corpora-
tions in Indiana and Illinois made in 1895 was legal.
Validity of Consolidations Under the Illinois Law.— The
above-mentioned decision is of much interest as touching the
validity of railroad consolidations in Illinois. We therefore
give the following statement regarding it, furnished us by the
company's counsel :
The quo warranto suit brought by the State of nilnola against the
Decatur £ Eastern Railway Company was decided on Tuesday of this
week In favor of the defendant and at^alust tlie State. The Decatur A
A Eaatern was one of the oonatltnent compa ies out of which waa
formed In 1895 the Indiana IJeoatur A Western Railway Company,
which Is now a part of the ClDOlnnatl Hamilton & Dayton syatem.
This quo warranto aiitwas brought upon several grounds, but the
principal was that the conaolldation was void, nnd tbe Court waa
asked to revoke tbe charter of tke Illlnoi« constituent company, the
Decatur <k Eastern, for havlnn. among other thinga. entered into an
lllexal and unamhoiUad conaolldation.
A recent declelon of tbe Supreme Court of Illlnoia in ihe American
Loan lb Trust case, 10 tbe 157th Illinois reporu. decUIrd that for a
Buinber of years prior to 1883 there waa no provlslou of Illinois law
authorizing inter-State railway conaolldation ; and that au attempted
consolidation had In that period waa void; and that the mortgage
bonda lasued by the company so formed were vidd Our oonsolldailon
waa had under an act passed In 1883, whieb la an act of very limited
acope. Thla act authorliea Interstate railway propeniea previously
oouaollda ed lo become again consolidated after forecl sure on cer-
tain terms. TUa atate'a attorney attemmod to have this act so con-
•t "'•uai to make it practically luipoasible for any railroad property
to fulfill ibe cmdiilous pnowdent lo a coaaojldallon thereunder; but
af ler live days' trial and au exhaustive argument, the Court decided that
our consolidation of 1495 was valid. As regards the conaolldation of
the I. D. 4 8. Ry. Co. had In 1675— the Court holds that its validity- or
lovalidlty Is immaterial to tbe validity of the oousoilliitioii of 1895.
It Is prooable that nearly all consolldmlons that have been had
alnoe l8-<3. involving tlllnola railroad properties, have been bad un
per this act (of 18->3i, and oonseqnantly tlil* deolion of some general
Imporlanoe. I may ri^mark that ibis act of limiied acope ia sub-tan-
tiallr tbe only auiborlty uow la Illiniiia for tha consolidation of Intar-
Blate railways, and that then- exists no provision of law for the con-
solidation of railways built tine* 1883.— V. 62, p. 602.
Iron steamboat Co.— Reduction of Capital Stock.— At tbe
annual meeting President A. C. Washington explained that the
proposed reduction in the capiul stock from $3,000,000 to
$500,000 (the par value of tbe shares to be $35 instead of $100)
had been rendered necessary by competition, which has so
reduced profits that on the present capitalizition only very
small dividends are possible. The project was fully dis-
ousaed. A majority of tbe stockholders, it is said, favor the
plan.— V. 63, p. 1115.
Lehigh Coal at Narlgatloa.—.£c:en«ton at 4 Per Cent of
$3,000,000 Bonds Due Feb. 1, /<?i>7.— The ompany gives notice
that it has arranged for the ex(«nHion till April 1, 1914, at 4
per cent interest, of the $3,000,000 six per cent bonds due Feb.
1, 1897, known as tbe railroad loan. Both principil and in-
terest of tbe extended bonds will be payable in gold coin of
the United Sl«tes of the present standard of weight and
fineness, free from all taxes imposed by tbe United States or
the State of Pennsylvania under present or future laws.
4i
THB CHRONICLE.
|Vou LXIV.
I M iktoM»de». Brov* Brot.*0».,orPMUdttp(il«.
I ik*y wW te pf«»u*l o. r*h. I. IW. lo pur-
«l iMr bM4i •• 4 p» o^t. "J'f»
StoMMit of • pM«i««» of *\ pw ftMi. or.»»i 1*<1 •PPl' •
TTSlafa ■->-*- Mil Uit bMAi 4m^I*4 with Ut>m do! Uu>r
ttea Jmmut »>»k. «•». Tli» ttwtiM »«x!»r ih« m .rt«»««
Z!l<»ruMM4iMk»»lM4^ to tiM rid*lliy In.ur«DC*
f^7R«l« 0«9o«Oa^ of PfclUd.lfhU.-V. tt. p. 10 ».
I*U«4 11. aiw* JiM'itriii^ Jtfr. 0<irbte'« ^m*
L— li«.OMiWa kfc» tarMd otmt lo Rlwanl Kioa.
I of ilH C«lo« Tra«l CVx. r«»l ••!»!• ••"» «<> •»• •'>"»"
ak wfO h* ImM to pratMi lh« «M«k o; lo-
Mr.OMMawM owinc «'>»«^»i« •»•?* »>■;
_ _ J M.«0M*m4 tl.m.009 Un^T •««»«• «7 «»»»^*« "'
Mark la IW LnM l«Ua4 BR. Thto Ml <rM r«odM«a BMniarr
br «»• hm»T ffcU U Um prl«« ot th« ilosk »ad r»mo»«i any
h*v« uUMd of Um Moek b»io( thrown on
, Awlto Cortola. Jr.. d«niM th«i thero h\»
im tfc* Moek hoidiDca of the Corbin rtiatc.
«y*:
wUak Ch%rtM ft»x\ brtl<n • i. %•«).'> •'».
M «oaM •• tk» awrkx. Tb> two bolilini*
•r •10.000,000 Uoek of the r onpany.
Mr tram »to MMsr*. Maiw <ll wlisn
0*ar or M «• laW til* JarMT C»air*l.
nidwi thtlth* F«bru»rT dl»il<«al would
. b«i at UU oomptaj't oOo* thii w»«k it w«n fit«t«d
o« lh» diftdood WW oot MutUy ukan uatil iba
E ot Juutry.-V. U. p. ltl«.
U«lwHf BTMOf III* M St. L*bU Comolldatol BR.-
mU -KraainlloKMSkportft BuMra Hr«t mort
4m Jait 1. IDM. WM paid at th<i New York
ftlVwtOft,, N. Y. Oir. on oad after D c. 81. ISM.
Br«M* </ « JMm to b* .A6aiutoiMd -The receiver hu
(<w peratoiioo to tarn over to the ban il holders the
,n HiUm la Uocth, which eiteodi from LinoolD Citv
lad., aad on whieh are ouuundinK $:)00,000
■niiaam boMleof tfceold Haattagburg Tell Cur & C»a
.•««rS».-v.M. p. im.
UallTlllo Now Alkaav M Chlcaro Br.— Coupon Pay
WUmL ttmnom da* Jao. I. IWT. on the flrtt mortcaice bomli
an katac ptM at Um Ohaae NaUonal Bink, 88 Cedtr Street,
H^MtYoTli.— ▼. «. p. 1115.
Saakattaa BB —Diviiiend lnjunetioH Denied.— T\\9 io-
BCbt lo be ohlaio«<l bT Mortimer Hendricks re-
I* eoiapaaj from paying the quarterly dividend
4nJ«a.t waa dentod by Ju l«e Truaz on Thursday. Mr.
HeadrVks't applie*tioD to the Attorney -OeDoral will oome up
m 8aiBrday.-V. «l, f. 1^^P.
■taipkis A Cterleetoa BB.— Oimpoa Puffment —The re
ooirer* (tvo Botto • ilist the coopooa due July 1, 1894. from
Ik* (oltowtac^aaaMd bead* will b* paid on and after Jao 3,
Wn. at itoOhaM Jlattooal Bank. New York, with interest
Ihoftna at 4 par eeat prr annum ttom date of maturity :
fmseadSMaM wtewtoa 7 per esau. listed ISSi, eztasded 1880.
tgmmt ■ seisj s as 7 per seat t i»«4i. 4b» J »n. 1. 189S. renswsd.
iiw>ia«ll«'M TwiM'i IMrttiaa 40-re»r7 psraeol baadt.
OH*riMaM4 ■ Mtf*» tofeer 7 per Mat beads.
«/ I*Ure»t oa 7 Ptr Cent Bomit Depotittd.—Tho
loat of the money* to b« rroeired br it from
qad payment oo aooouat of the 7 per cent
>d»pc »lt rd uodfT its aKreement will, on and after Jan.
S. IHV. at the Uu trsaiy Trust Company. 0.1 Cedar 8tre«t.
Kaw York, make ptymeat u the depiaicors as follows, the
aaae ladicaied beiaR tbo aatonats w which stid depo>itors
woald kaoaUtM for aU montha' iatarest due Jan. 1, 18«7. on
hyadt to bt daUrotad to them rrap-c:irely under the pUn:
fk )*• AipasMsrs^^—
_ lBi'kJad«!!!!.".".'.I.'."""i;."Ii.""!'™Ilf$it
I awWaaee eiteadsd beads )
je7 per seat bsads ...^ 16
.p.W«.
Mcb for Srtrtiston— The stockhold
M, aathociaad the tl.OOO.OOU UiikIs for the c m-
I of tfca prapoasd extoosioo from Ctlumbus. Hiss., to
■••((otoafy. AIa. Tne b'^odhalders to3k similar ac ion last
walk. D itll ll s t«naidinn the project were giren in our last
Tha saw Uae. it U believed, wlU givotba Uobil^ & Ohio
1 looaac* and plaoe theoomoany in a much
with lia OMnpetttort.— V. S3, p. 1169.
•Ma Wwlkara KB.— fbraelosMrs S<Ue IruUftnilely I'ont
I— Tbe firwIaBara mi» set for Dec. 81 baa been post-
I (adeflnifly.— V. M. p. 1010.
•kla TatUf KB.-llllaatoOMitrAl BB SaU Orderti. -
Ja4«a Bm, at LMtorilW. has ordrrel the sale ot the Otiio
▼aiWHB. aadar tosacUeara of the Bnt mortgage. The up -
ildMaaof BMiSoUart..— A aaeiiagof the bondholders of
*a OMaTaUarBR. waa bald oa Dre. 21 at the office of
BsMak Br«a.,4C BtotMUtca Ptao*, to uke action rrgarding
Ik* faaortaA Mia bf 8, S. Brown of I'itubar« of hi* hoWliagi
olO'fo VaBay kaiwa, ooaa W wiMoK a msjontv of ili« imu* to
aaftt* I* Ika lan t ai l of tbo llltn lis C»niial Ky. The folljw-
ite — H»* woe epaolatod to protect the min^ritv interest:
llMMa. Praok R>sak. K, L KIwer.la and Msrcus Msyer
Ika OOMOi mn weroofapowarad toadd two to their nuinher
•Im M May .ib« forrclOMU* prooardin^s, and if an upre
prioa waa fixed lo aa* that it was a propsr oite. Mr. Frank
Rasaak, raproaantlng the esute of Bmj. R j«ak and as obair-
«a« of the o»m nitwe, apptarA'l at the h ttring cnis wnk at
L wiarille. Tb« Cjurt tcraited a diUy ia ths sate so th%t it
shall aoiooouruatita't<irJuiel,aaltheuDist price wMfizjd,
as aboTosuted, at |t,05),009. The decree further provides that
the purch*ser shsU assuns aar p)S4i'>Ie prior lien. Tail ora-
vision hai reference to pjiding li<i<»'.ioa with 0(t*<\o»ke
Ohio A Siuthweatern regarding a claim of ♦UO.OOJ.— Vol. M,
p. 4?l; V. «3. p. 10«1.
Old Coloay BB.— tSOO.OM Stock Sold.— This new atook
waa aoli at auction on Wednesday at prices ranging from 175
to 177.-V. 83. p. 1159.
Oatka k SU Loili Kr.—Tntereit on Bond Qertifisat**.—
On and aft«r Jao. ad, 18J7, th-* Qatraaty Trust Gj. of New
York will ptT lin on each oeriiSoste Issued by ic for tha first
mortra^e bjnls d 'p-xited ualer the handholdars' agraement
fteaV.6i, p. 41] with W. Enlen R)oieveU, Coraelius B.
Gold and Francis Smith, committee. The payment repre-
senu the interest on the 75 par cant in the new bonds to
which each ct^riifloata i« entiiled. Before the next coupon
cornea du<, in Julv, 1397, it is expected the new securities wilt
be diatributed.- V. 83, p. 190.
Orogoa Short Ltae * Utah Norlhera Rj.—Btorgan-
Uatim Vofic*.— The foreclosure sale having bean fixed
for Jin. 9, 18;)3, the reorgsnizttioa committee oftars uatil that
date to receive additional dapasits under the plan of reorgan-
isitioa on ptyment of a pmaUy of $10') par band aad $1 oir
■hare of sto:K ii addition to the reguUr asiassmant. This
offar applies to the following:
Oreron Sbnrt I.'ds A Utsh Northern Ry. stock, ooasol. 5s aqd eoUat-
•rsi trait St.; Ulsb Boatb tra geaerAl iu'>rt. 7s sad ecteaalon 7s.—
v. 63, p. 1010.
ApplirilUin lo Pay Interttt. — The trusteee of the Utah
Northern sevens have a4K*-d the Ciurt to direct tha payment
of ooupan du-iJan 1, 1837, It ia thought the order for the
piyment will be given without delay and that it will also
direct the otymeit of the January coupon on the consol
fiTe,._V. 6}, p. lOiO.
Pd»rU llMatir A Eraagrllla B8.— Coup.^n Payment.—
The c)uo}n4 dua July 1, 189S, friTi Peoria D.viaion first
mortgage bonds w<>re paid at the Central Trust Co. on and
after Dec. 24.— V. 83, p. 353.
Piillaitelphla A Reading RR.—Paymenfo/tnferesf on iVrtr
Bonds Jan. S. W37.— Hokiars of receipts for general mort-
gage bonds who have assented to the agreement of reorgan-
izition dated Djc. 14, 1S9'), will receive Jan. 3, 1897, p<nding
delivery of the new securities, 2 per cent in cash a the
amount of bonda specified in such receipts. Tbia payment
represents the interest due Jan. 1, 1897, on tbe new bonds, and
la made with funds advanced by the reorganiziiion managers.
See oflBcial notice in our advertising columns.
Payment of Coal and Iron Gompan'/t bond* . —Tha following
bonds maturing Jan. I, 1897, secured upon coal lands, will be
p«id at matiiriiy at tho office of J. P Morean & C>., 23 Wall
Street, New York; Catharine Groh, $55,000: St. Clair. $273,-
000: L'«e Linds, $343,000; Bacle Hill. $10,000: Bigla Hill. etc..
$186,000, (}rady and Wntherill. $187,000; Locuit Mountain
Summit Improvement Co , $323,000; and Tamaqua Lands,
$1,431,000; total, $2,6S7,000.— V. 63, p 1159.
8tn Di»go Eleetrie Hj.—Myrlgaje for S 400 000 Proposed,
— A. meetiug will be held Jan. IS to au.boriza the making of a
mortgage for $400,000.
Terre Haate A Logansport RK.— Foreclosure Suit Filed.—
At IndUnapolia, Inj., D<c. 30, ex President Harrison, aa trus-
tee under both mortgages, brought suit in iha Federal Cjurt
to forecloae the mortgaget and collect $1,500,000 due thereon,
—V. 63, p. 1065.
Toledo St. Loots A Sennas City B.U.— Dispute triih Joint
Traffls .issiciation Settled out of Court.— The suit of thia
company ai^ainst its oonopctions for refusing to interchange
traffic with it hiifl b>en sattli>d outside of the Unit«>d States
Circuit Court of Illinois, the boycott being removed on Mon-
day. AU lines ar? therefore as free to exchange business
with the company as before the order interdicting the same
waa publishea by the Joint Traffic Association in October last.
(See V. 68, p. 758) —V. 63, p. 970.
Caloa Pacific Ry.— Coupon Payment.- Coupons due Jan,
1, 1897, on the Union Pacific RR. Co.'s collateral trust 6 per
cent bonds of 1679 are being paid at the office of the Union
Trust Cj. of New York, No. 80 Broadway.— V. 63, p. 1168.
Dalted Stateg Exnrei*— \dam« Express.— T'raTw/er of
Businets oivr Nrtv England RH.—Vftii'n the New York &
New England RR. was foreclosed in 1893, the contract with
the United Stairs Etpress Co. waa canceled, but under a tem-
porsry arraneement the Express Cimpiny continu-d doing
business over the road on substan>ially the sama tarms as be-
fore. It is now announced that from Jan. 1, 1897. all the
officers of the Express Company on the line of the New Eng-
land Company will be closed, and that ths Adama Etpress
Company, which does the Boston expreas business over the
r«at of the New York New Haven & Hartford system, will
an lie all m<-ter dettinid for poioU on the No v England RR.
—V. 61. p. 710.
U»|t»d States Lmlhnr.—Dialh of President.— Peeaidvnt
Milk H yt died on Wedoesday,-V, 68, p. 970.
January 2, lov7 )
THE CHRONICLE.
43
IThe C!1^0mmerdal Simes.
COMMERCIAL EPITOME.
Thursday Night, Dec. 31, 1896.
It has been a quiet week in mercantile circles, as meicbanta
generally have given their attention to liquidating their ao-
counts for the past year. The prospects for trade, however,
with the beginning of the new year are considered, as a rule,
favorable. Large buyers in a number of lines of merchandise
have latterly been showing increased interest, and ic ia
thought that they will open negotiations for supplies follow-
ing the turn of the year. There have been further reports of
troubles in banking circles at the West and also at the South,
•nd while they have been the cause of much unfavorable
comment they have not been an especially disturbing feature.
More amicable relations have been reported between the
United States and Spain, and the nature of the advices re-
ceived from Washington foreshadow an agreement betweeu
these countries regarding the condition of affairs in Cuba.
The tariff question has become a topic of much interest, and »
hearing by the Ways and Means C!ommiltee has been given to
several trades during the past week.
Only a very limited amount of business has been tran^iacted
in th« market for lard on the spot, but there has been no
pressure to sell and values have held steady, closing at 4-u7,i^c.
for prime Western. 3tS2i^c. for prime City an<l 4-30c. for re-
fined for the Continent. No business has been transicted in
the local market for lard futures, and trading at the West has
been quiet with the changes in prices unimportant. The close
was steady.
OAILT OLOOaa PBIOM OF I.AXD rUTTTKIS.
tmt. Mm. Tut*. Wed. Ihur. tn.
December o. Holt- i'lO 4-05 4-05 .... Hoi-
Janoaiy •■ <l»j 4'10 A%y.
The demand for pork has been quiet, but prices have been
unchanged and steady, closing at $i 25(3^8 75 for m-ss, SlO(;C
$10 75 for family and $9 2>@§10 25 for short clear. Cut luaau
have sold slowly and values have weakened slightly, cl leing
at 4?^(a4=gO. for picfcled bellies, 12@10 lbs. average, 4@l';c.
for pickled shoulders and SJ^f^Qc. for pickled hams. B-.^i
bas been wamtd by shippers at fu'l valu'i>, closing at $7{§(S
for mess, $8(a$tf 50 fur packet, $9©S10 50 for family and
$13 5U(a$i4 50 for extra India luess. Beef hama have been
steady, closit g at ¥1S(3$18 5). Tallow his been in better
demand for export and prices have advanced, closing witu
salts at 35^0. Oieo stearine has bad a moderate sale at steady
prices, closing at 4>.^c. Lard stearine has been quiet and un -
changed at 4;^@4>»c. Cotton seed oil has been quiet a-id
without change, closing at 20c. for prime crude and 23c. for
prime yellow. Butier has been quiet but steady at 14 d21c.
for creamtry. Cheese has been firm but quiet at 73i'a l«^ii-.
for State factory, full cream. Fresh eggs have declined,
closing at 20c. for choice Western.
The Brazil growths of coffee have bad only a limited call,
butonadvicts from primal markets prices havx advancd.
closing steady at lO'gfaiO'i'c. for Rio No. 7. Ttie mild grades
bave been in demand and have sold at steady prices, clo-tiuK
at ISJjjOl.'i^c. for good Cacuta and 22'ia23Kc. for»tandir.l
Java. The tradii g in the market for contracts bas been
quiet, but prices have advanced slightly on a demand froai
shorts to c )ver contracts, stimulated by unfavorable crop ac-
counts. The close was steady.
Tbe following were the closing prices:
Jan. 9-700. lAprtl 9-80o. I Julf 9 SO .
W»t> »7rio. May 9-8iio. Au« 9-»Oo.
March 9-8tio. I June 9 sSa. 1
Raw sugars have been quiet, as refiners have been slow
buyers, but values have held steady at 8 3-16c. for centrifu-
gals, 96-deg. test, and 2 13-16c. for muscovado, 89 deg. teat.
Refined xugais bave had a limited rule at steady prices, clos-
ing at 43^c. for granulated. Teas and other staple groceru s
bave been steady.
The maiket (or Kentucky tobacco has be<>n quiet, but
values bare been um-banged and firm. Seed leaf tobacco
has had a moderate sale at anchunged prices. Sales fur be
week wer<> 2.720 cases, iociuding 200 cast-s 189S crop. N-^v
England Havana. 16'330c.: 300 cases 1895 crop, .Siate Uavitia,
10J^(ai6c.; 300 cas s'lH94 crop, Penn.sjivania Hivaiia. HJiiia
lO^c; 120 cases lt)93 crop, Peousjlvania Havnna. 12J,2 ; ; loO
oases 1893 crop, Pennsylvania seed leaf, 9>^'310o : » so
1,000 bales Havana at 53c. to $1 15 in bond aud 201) biies
Sumatra at 60c. to |l 75 in bond.
There has coniioui-d a quiet luarket for Straits tin, bu'. there
bas been no pressure to sell, and values have held a xiut
steady, closing'nt 13c. Ingot copper has had a limited sil-i at
full prices, and the close was firm at ll'SOc. for lake. L'ad
has been quiet but firmlv held, closing at 3@3"0.')o for do
meslic. Spelter has been dull and weaker, closing at 4@4 lOc.
for domestic. Pig iron has been quiet and easy, alcu<>u<h
there have been a few contracts placed for next year's deliv-
ery, closirg at $11(313 for domestic.
Refined peiro'eum has been easier, closing at 62 V. in bbls.,
8'70c. in bulk anil 6-UOc. in cas-s; naphtha dull at 6^c. Crude
certificates bave heen neglected. Credit baUncs have de-
clined to 90c. Spiiiis turpentine h-is been quiet and un-
changed, cl sioB "leady at 26!^|'a27f.^3. liOMis have been
dull and easy at $t 75 for common and g'wd s'rained Wool
bas sold slowly but values bave held steady. Hops have been
steady and sbipptrs have been buyers.
COTTON.
Thitrsday Nioht, December 31, 1896.
The Movbubnt op thb Crop, as indicated by our telegram,
from the South to-night, is given below. For the week ending
this evening tbe total receipts have reached 219.122 bales,
against 377.61i bales the previous tix days and 327,175 bales
two weelis ago, making the total receipts since the Ist of
Sept., 1896, 4.923,253 bales, against 3,544,866 bales for the
same period of 1895, showing an increase since Sept. 1, 1896,
of 1,378.587 bales.
SeeeipUi
Fri.
5,477
10,709
1,612
175
4,632
1,020
1,101
3901
148
201
2,126
1,802
Sal
1,955
250
4,659
1,203
2,270
1,048
348
500
Ston,
10.705
19,744
2,136
Salveaton
Tex. City, 4o.
ttew OrletuiB...
Mobile
Florida
Savannah
Bmnsw'k, <fca.
Oliarleetan
Pt. Royal, &o.
Wilmington
Wash'ton, Sio.
■orfolk
Newport N.,4o.
New York
Boston
Baltimore
Pl>lladelph'a,Ao
Totns this wneli 3?.907 12 2:13 50.509 34.121 31,564 57,788 219,122
4,776
4,943
655
6,081
310
1,022
138
Tue*.
7,585
12,952
1,669
2,672
935
608
5,578
2,026
79
Wed.
6,030
11,334
1,5C3
3,515
2,061
232
3,473
1,717
127
Thur:
3,221
1.528
13,008
1,616
1,744
1.94S
10,598
1.764
14,204
464
57
3,416
698
1,329
651
947
563
ToUU.
84,973
8,18&
72,458
9,82S
1,91»
19,8lO
10,593
11,790
14,204
3,111
57
22,802
84S
2,340
7,542
2,749
91»
The following shows the week's total receipts, the total since
Sept. 1. IHUH. and the stock to-night, compRred with last Tear.
M4eelplMlo
Dee. 31.
Salveaton...
Tex.C.Ao.
New Orleans
Mobile
Florida
Savannah...
Br'wlok, Ac
Obarleaton . .
P. Royal, Ac
ffllmlnffton.
Waah'n,Ao.
forfolk
N'pottN.,Ao.
-tew York...
Boston
Baltimore . . .
niUadel.,&o.
1896.
ThU
Week.
34.973
8,185
72,456
9,82'!
1,919
19,810
10,598
11,790
14,'^0I
3,111
57
22,802
846
2,310
7,542
2,749
012
aitice Sep.
1, 1896.
1,015,797
68,775
1,484,742
199,512
47,686
619,285
120.804
317,745
.■>2,842
205,110
688
561,054
11,922
32,961
99,615
30,961
23,848
1895.
Week.
31,512
3,151
59,964
«,312
524
26,501
3,171
5,391
53
930
21
9,667
12,063
3,550
11,801
637
1,150
Since Sep.
1, 1895.
684.056
10,099
1,187,265
133,473
19,380
530,071
85,913
212,812
37,657
134,999
660
190,959
140,311
20,782
57,098
24,477
23,654
Stock.
1896.
198,991
8,341
470,032
50,499
101,002
6,831
49,014
16,353
37,491
2,161
292,751
34,000
19,949
6,935
1095.
160,321
15,787
395,389
36,399
93,15ff
9,094
47,888
18,455
56,145
12,309
184,329
80,300
25,479
10,595
Tot.»l« ... 219.122 4,923.253 176.324 3,544.660 1,294,356 1.100,644
In order that comparison may be made with other years, we
give below the total.<< at leadinij ports for si x seasons.
Seteiplt al—
1896.
189S.
1894.
1893.
28,884
1892.
20,345
1891.
aalves'n Ao,
38,158
34.063
65,133
32,963
Mew Orleans
72,456
59.961
83,187
77,504
51,180
90,237
4oolle
9,828
6.312
5,250
54,954
3,611
8,191
Savannah. . .
19,810
26,501
22,746
15,103
11,260
18,436
^has'ton, Ac
25,991
5,144
20.072
17,427
3,956
7,130
Wllm'ton,Ao
3,168
954
1,068
4,591
5,298
1,812
'•orfolk
22,802
9,667
16,457
13.541
2,601
16,222
M. NewB,Ao.
818
12,074
8,901
10,S48
5,160
13,714
ill others...
26,060
20.742
28,152
17,755
22,737
126,054
25,745
r Jt. this wk.
219,;22
170,321
251,8.'il
190,702
214,250
Slnoe Sept. 1
1931.25.J
3541.666
63'*7.».'>2
«347.962
3691,854
5031.607
The exports for the week ending this evening reach a total
•r 251,73 ) bales, of which 13a.605 were to Qreat Britain. 2i.31&
to France and 9J,8 >9 to the rest of the Continent. Below are
the exports for the week and since September 1, 1898.
Wttk finding Dtc. 31, 18IM.
rrom Btvt 1. 1886. to Dte. 31, t88«
nxmme
from—
Etpnrttfl (rt—
Exvuritd to—
Great
Omtt-
Totui
Qreat
Cont*.
Brii'n.
franct
wnt.
Wttk.
Britain.
France
Total.
JalveatoD
B.IP.'.
8.880
«,818
21.383
511, 18S
lio.iai
177.528
618.188
I'M. Clly, 4c
587
617
x%l<H
13.ia»
■••w OrlMus
21.su
14,8>0
21,;9»
«0.9(ll
4b6.073
247,217
2V-.133
1,029,120
M 'bile ..
.\285
6,2«S
85,lMa
7,9-i7
93.118
Piortila
l.lOl
26'
i.m
8-1. 724
1.B72
S5.09S
^ATaBSSll ....
».24S
21,821
30,S6;
10.78-
15,311
226 465
»«,S8«
Sraniwlek.. . .
iii,8;s
18,373
87.(K'4
s,s«s
71.4«».
'^Dwleiton..
15,811
J 6,- 11
g8,7n3
138.8S3
207,740
Purt (toral ..
II.IO-J
X4.102
51.101
S1.101
ffllojlnffton.
.. ..
95.131
t7,37l
ist.sos
Norfolk....
13.335
.. ..
7,050
ai.S8.^
182,3-'B
6,200
28,250
iss.sss
N'port M., he.
1,5U0
1.50
6,8-.0
6,860
Nsw rork...
H817
1.184
6.731
vetTi
U-I.3I1
11,11 2«
88,883
l)42.S62
Beitoa
Si. 91
..
25.791
127,7H5
1.204
128,9S»
Baltlmnre. .
3,-;30
7,«>7
11387
45,-.8-
8,052
3j,351
81,681
PhllBdelpbls. .
ii'i
.« ..
ipo
S62
5,50r-
S40
6.864
8. Prao.. Jtc.
z.aio
2«Ui 93
17. '21
17,211
Total
1311,10.1
21.310
00.80D
Z51,7.W 1,889,88-
412 604
1.131 947 S4S6.0S9
Tutal. taos ..
(11 »•••»! IT 4'fll 77n-"«'"V>nn'll.'''J7,07l'2«7.272
019.173 2.235,030
41
THE CHRONICLE.
[Vrou L.X1V.
■!*« a* lfc» foOowlai •n '!•»«■• •>' •"" •'' "" •*>ipb3»rl. not
Mav York. •««* »t» pr • »>r "mhm.
The Halb and I'lticn or Fotchm at New York, are
•bown in the followini; oomprehensiTe table.
gaig '&m.a8s
ap*c«teUM ia oottMi for fatora delirery ba« b<en tlitsOtly
MM MllTr. Th* roofM of fvioM hia bvpn » )iu««rea'. irreK-
,k«l at ib* elo«0 th* art ehuice* for ih* wo-k wfre
tportMl. MMxiarlbt market wai lower. St-liiiK w&«
J. pc««ipt«4 br hMvy r«««ipta at the pjtU and « ftirljr
It rvpsrted fros interior towns. Ttie
elow vat at a dwriina of 1« (o 13 point* for tlie day. TursJay
l^mi vaa a atroafM torn to tbe market. Forri^n adrices were
4aMMj owce favorable tban ex[>«cied, and thin, together
with iltoiiaaiil port reoeipla, a'.iaiulatvd a demand from
«kocte to oorrr •.-ontraeta on which price* ad vane d
II %a IT poiola. Oa Wednraiay, bowerer, tbe market again
t«rw4 eaaicr. L\to foreiKO advice* were diaapp>intin;; and
Im^ aoM to raaliae profli* roaulting in a deoline in i>rice<i for
Iho day of t to 7 point*. To-dajr tba market opened without
faaponaat etaaor^ trooi Wedo'«d«)i'<i closing price*. D Jring
UMdar, bowotrrr, prfc<tateadil]r adraoced. The S)ulh waa
baytoit and ibere waa a demand from locil shorts to cover
«Qair»rt*. •ti'satatfd by a saiallfr m»renieot of the crop for
1^ w(«k tbaa ezproted and advicca frotu tbe .South a:atiDK
that exportera wrra mora active buyers of edition. The close
WM ftrw at an advaoc« of 1S<91S points for the day. Cotton
oa Ikoapot haabeoo in •lightly better rrqufst, but on Monday
Hteaa wan lowered 1-I8c. To-day tbe market was %<:.
Wber, middUag nplanda cloainK at? 8-1 Oc.
f)M total aalea for forward delivery for the week are
m.lOI balaa. For imoMdiate detivorv the total .sales foot
mp tUa wwk S,«»4 balea. including inS for export, 1.531
4or ooaaiunptioa, — for aDectilation and WO on contract.
Ite (bllowiag ara the ofBcial quotations for eaoh day of the
panwoek— DooemberMto Jinusry 1.
iUlM oe and off middling, aa esubliahad Nov. 22, 1898.
Mid reviaed Dec. II, 1895. by tli>> Kevision Committee at wbio^
r than nilddling may be delivered on contract:
OoodOrdlnArT.... o. I oil.
OoodMlddllDKTIored... Eveu.
Btrlet Middling Stained., ^n oS.
MIddlInx SUtned ^ oO.
Strlot L«w Mid. BtalSaa. . **« od.
Ix>w Wlddllnr Stained.... m oO.
Oa this baata th« prioas for a fa w of I h* grades would be hb
foUoara.
UAMKWt AXD BAUCB.
of OoMon oa tha apot and for future delivery
day dartag tha weak ars indicated in the followint
at. rbr tha ooavaeiaaea of the reader we alao add
I whioh shows at a glaaoe how toe market oloaed on
»dayi. '
■tjnt^t at 1 t d»«.
aaiaa or aror aao oowtbaot.
•6S
Ball
l,tS1
iPfa
Oft-
Crad.
4a7.
000
300
IM'l.
l.SUI
1,3S1
SOO
432
OOftI 3.3a«
aoUtof
fuhtrtt.
161,200
136.400
I20,<I00
104,700
K33.1O0
* Inoladea sales In Sentpmber, for 8ept«nibor, IS.IOO: September-
October, for October, 334,800; Soi>tember-Norembor, for November,
372.000.
C^ W» bare lnoInde<l in the above table, and aball continue eaoh
weekto Klve.tbe avsraxe nrlr.n of fntiiren eaoh day for each month. It
wllltwfonodaadereaoh day fullowltiKtheabiireviatlon "Av-'xe." The
averaceforeaoh month for the week tnaliio Klveu at bottom of table.
Thk VisiblkSopply of Cotton to-night,as made up by cable
and telegraph is as follows. The Continental stocks, as well as
those for Qreat Britain and thealloat are this week's returns,
and oonsequently all the European figures are brought down
to Wednesday evening. But to make the totals the complete
6gure8 for to-night (Dec. 81), we add the item of exports more
the United StAten, including in it tbe exports of Thursday
jANTiBT 2 1897 )
THE CHRONICLE.
45
Otook at Llverpoo I bales.
xtook at London
1896. 1896 1895. 1894
999,000 1,059,000 1,223,000 1,389,000
6.000 5.000 7.000 7.000
Total Oreat Britain stock. l,00>,00O 1,061,000 1,2J0,000 l,3i6,0O0
ttook at BambnrK 17,000
aUMsk at Bremen 174.000
8t*ok at Amsterdam 6.000
Stock at Rotterdam 200
-fltook at Antwerp 9.000
«tookat Havre 196,000
5,000
52,000
41,000
14.000
23.000
222,000
8.000
200
17.000
314.000
5.000
63.000
36.000
16.000
20.000
254.000
13.000
200
11.000
449.000
.•i.OOO
60,000
18.000
17,000
20.000
18 i.OOO
15,000
200
13.000
39 2.000
6,000
48.000
9.000
18.000
5l4,iOO 704,200 847.200 706.200
fltock at Marseilles.
Stock at Barcelona
Stock at Genoa
Stock at Trieste
Total Oontlnental stocks..^
Total European stocks.... 1,519.200 l,76!j,200 2,077.200 2.102.200
Indlaoononarfiiat for Europe 52.000 69.000 14.000 51.000
Amer.ootton afloat for Europe 611.000 499.000 818.000 615.000
Bgypt,Bra8ll.Ao..at1t.for E'pe 3 1.000 48.000 46.000 5-t,000
Stock In United States port-s . 1,234,35'? 1,100,614 l,23^.2«l 1,285.551
StocktnU. 8. Interior towTis.. iS7§,47.-) 583.663 600.956 481.977
United States exports today. 120.702 27.413 40.25'> 22.00 1
Total visible saoply 4.244.733 4,093,920 4.831.672 4,615,742
Ot the above, totals or American and other descriptions are as follows:
American —
Urerpool stock bales. 854,000 879.000 1,079,0001.182,000
Oontlnental stocks 433.000 631.000 731.000 605.000
American afloat for Eoiope.. 611.000 499,000 818,000 615.000
Onited States stock 1,294,356 1,100.614 1,29.5.261 1,235.561
United States interior stocks. 573,475 533.66i 600.956 481.977
Onlted States exports to-day. 120.702 27.413 40.2 %5 32,00 1
Total American.
Xatt Indian, Brazil, tie.
Urerpool stock
London stock
Oontlnental stocks
India afloat for Europe...
Ggypt. Brazil. ,ito.,adoat.
.... 3,9,il.533 3,722,720 4,555.472 4.171,542
227.000
7,000
101,200
51.000
53.000
Total East India, *0 323,200 371.200 326,200 444.200
Total American 3,921,.533 3.722.720 4.5.'i5.472 4,171,542
Total visible supply 4,244,733 4,093,920 4,881.672 4.615.742
145.000
6,000
81,200
52.000
39.000
180,000
5,000
71,200
69,000
4>i.000
144,000
7,000
115,200
14,000
46.000
KlddllnK Upland, Liverpool..
Middling njpland. New York.
Egypt Good Brown. Liverpool
Pemv.KouKhOood. Liverpool
Broach Fine. Liverpool
Tlnnevelly Good, Liverpool..
4581.
8«,sO.
6»i«d.
6'i,d.
4Tyd.
4M.
3"jad.
S'l.gc.
4<sd.
3!>|«d.
4»i,d
8i,s(j.
«d.
«38l.
4%1.
0~ The importe into Continental porta tlie paat we«k have
■beenlSo.OOO bales.
The above figurea indioate an increa»e in the cotton in tight
to-night of 1.>'i,813 bales as compared with the same date
of 189.^, a falling o9 of G86,939 bales from the corresponding
date of 1894 and a decrease of STl ,i)09 b ilea from 1893.
At thb INTERIOB TOWNS the tnoTemcnt— that is the receipts
for the week and since September 1, the shipments for the
week and the stocks to-night, and the same items for the
-corresponding period of 1895 — is set out in detail below.
OB
5 » 3 2 s
o2 = S-?a:5E
'2.-
gag.
""He
M ^ Q
. . . 35".
t » - - ^ -
O
r-
II.
o
. F.
8
§2
^ ^ 10
x ^ V ce X o
*>tisaJOl5tCMQD_ ,_ , .
© u 10 © cr a « © ^ MO i-* ^ cc AA M CD <o a»co c^ M ^ •siaoo #- ©
t> © to*"-" *j'fcO &»*-j »-'*'©«-' ic p-
' CD c u 10 ^ •-• ro
o
lob
«x
ODGD
xa
10-
•^C^©t)>U>UX Ui9^i^i-'*.U©^©t-'M
- - ' 3»5»'^©5''j^«iaopxM©^aooiwp'<fc
£i-*.io:D>»co^^^'i-"^©c^©xwb»wb©W«w»bc)
c*]©«jx ;,-i^*>^©i^A©QDCii'^jx^MeocB-o-4«<^M:^p-*
^ to at O © GO »» © '4 Oi -4 1»- Oi to >-• CO -^ 00 ^ C M W 10 © > ot 60 © N'
MMIO ^ p; OOMIO — »0 M j-iwM©00 MMWM
Op © 10 •sj"'-- CO X *• : A^^-VrOCi^JOl W b'Vf'-''^1»«©'^'iO'IU"-'
©x^uv>©»o^: u«©2tcuc;-jti(-^©©ACd*^o^a}©e3uu
i^xo«o9ox^' a»QCh'©«--'wa«k.feo^©©oaiM<^ai©XMto
S-4 VM|o^ t-t ro ^cn Mi^io
•*'5P!fc¥«^I <fcb-''-'V'^a»ifa.'»^'3ka»"^^-'©giii©QoV©©'^*.
*4c^©«©ai,' uai»-j©-'*o©o«o6i^653>o©o©©©aiie
^GO©«>CB© «M©t0©©-4©O©«0OV»5©M55©©©©MQD
O
w w
^ I OO — © 01
DM M tZlC
_ „ ., ttyi ©^
^ bOttOD-'VOQCDXi^© WU©C^e»-*IO©M^»g(i|o5|0©OCW©0
©ioo>o©©©;;iu^©-'X©x©©9<'l©:ceo*>4xoc0i-«©#-£to
OD CO t»* 1^ M M
2cd^*^c^MN-^.^^©^ciii^wtoto© #ki^«hCO-4i(kto^i»cd©M
ioa^wV'^©Mb©«iOM©©^*Vj'U©MVj^»w»M©w
CD ^ 1^ ^ © *3 ^ i^ 05 * » X -^ * O X © © X CO ® 03 > -J O © ^ *» 01 O ©
Xi^©^i^X©©t0-'C0X^C^*>)©©-'©©C0tO*>]«4MtO©O*CMXW
;^tO to V> €
W rO »• »o'-* lo'(P -J fi
•J*-*jM*J80o3 — ^?
X cdcn ^ M C^ ©© X M #
X-'O©: r-*©wOit0;7l<^XOt^<O»0 ©CO
x>o©©* Mxeo«j*^M*'^<0^*' v*^^
9©^©' •>4«^Oi-4©ai©4oce»o©-'H*i^>j
^ 0> «4^MM CO i-*i^»OM KM 10
SOtO}Qr*<i ©w; i^^'^ww.^w© ^x^oopc^j^M^^c^wgo
VjtoxV©
. ,. ., ^MCOOrf-WM
iOtotf ©xw- ■4yco©»o©^MtoM ©cjt©>^©Qpgi — •^•^O
ODfcOCe^©©»i9>i-*' *k©*-©C0»XXQi*l*».X3»C0^-
©XQi^edio;^-"^! xioto*o^©xw©x©^i©©©i-
-.-..», * •yCO©»0©^MtOM©cjt©>^©Qpgi-
»s-
* This year's figures estimated.
1 l>aat year's Bgores are for Newberry, 8. O. ■
The above totals show that the interior stocko have decreased
luring the w»»l< 2 iT^ bales and are now .'i.lSi bales lens
thanat^m' 'ir. The receipts at all the tow r.s
taftTebeen 4> thansame weak last year and since
Sep-.. 1 they it.' , , ., , .-, ' .,„,| )aore than for aamo time in 1895.
Quotations fob Middlino Cotton at Other Markets.—
Below are closing quotations of middling cotton at Southern
and other principal cotton markets for each day of the week.
ITsefc ending
ilLOSISO QO >rATIOS8 fOB SCIDDLISO OOTTOM ON—
Dee 31.
ScUur,
Hon.
Tuef.
Wedne:
TAuri.
r^.
aalveston . .
Sbw Orleans
Mol)ile
Savannah...
Charleston..
Wilmington.
Worfolk
Boston
Baltimore . .
Philadelphia
la^usta .
VIeiuphis
^t. I/OOiS
Ronaton
Olnolnnatl..
Loaisville...
eiij;
6%
6i58
6I3
61s
613,8
6'8
611,8
6' 1,8
67,8
6>a
6''is
..,8
n'
6U„
611,,
6:it
6=8
6's
6I3
6<,g
71,8
6^
611,0
6\
658
?■"
77,8
613,8
eiifs
613,6
en
i
Receipts prom the Plantations. — The following table
Indicates theaotual movement each week from the plantations.
I'he iigurea do not include overland receipts nor Southern
eonsumption; they are simply a statement of the weekly
movement from the plantations of that part of the crop whicn
Anally reaches the market through the outports.
tVtth
Sndin§-
Nov. 27
Doe. 4
•■ 11
•• 18
•' 84 ....
'• 31
Rteetvt* at tht Portt. St'k at Interior Towns,
1880. 1806. I 18V4. 18«6.
31S.S3e: I »t>.5S3j 365.220
2«KJK)3 227.001 !a51.45l
278.108 iJ1.059 3rt3. 138
327.17o!2;;2 783:339.698
W7.815 223.919l318.7»7
«l9,122i I -6.924'251.85l
630.031
668,918
668. 78i
575,781
580,718
578. 175
1896.
491.Ufi
532,688
538,372
686.332
598,822
5S3.B'13
1894.
41S.014
484.02:1
501.608
5a8,82«
609,001
600.858
Rec^pttfrom Plant 'ns.
1898. 1896. 1894.
311.073
291.789
288,332
334,174
282.682
218,8)9
221,7.17 399,798
265.671 392,160
257.743 380,719
251.743 426.921
235.439 352,97«
l8:!,lR5l243,8l)e
The above statement shows: 1,— That the total receipts
from the plantations since Sept, 1, 1895, are 5,3-*l,134 bales; in
189,5 were 4,0i5,6-'9 bales; in 1894 were 5,931,573 bales.
8. — That although the receipts at the outports the past week
were 219,123 bales, the actual movement from plantations was
210, 8ia bales, the balance goiap; to increase the stocks at
the Interior towns. Last year the receipts from the plantations
(or the week were 103,165 bales and for 1894 they wen
v48 808 bales.
Overland Movement for the Week and Since Sept. 1. —
We give below a statement showing the overland movement
foi in? week and since September 1. As the returns reach us
by telegraph late Friday night it is impossible to enter so
largely into detail as in our regular monthly report, but all
the principal matters of interest are given. This weekly
publication is of course supplementary to the more extended
monthly statements. The results for the week ending Dec. 31
and since Sept. 1 in the last two years are as follows.
1896.
1895.
December 31
Werk,
,8ince
Sept. 1.
Wetk,
Since
Sept. 1.
V^ipped—
VlaSt. Loals.
18.798
10.111
1,02 8
4,447
5,646
9,394
332.503
176,174
9,11.S
oOZ
89,465
82.321
67,078
16.604
6,496
103
17
5,047
3,114
9,779
344,055
Vl» Cairo
155,952
Via Parker ...-.
12,022
45
Via LouisTiile
87,752
Via Cinolnnati
47,610
Via other routes, *o -.
48,261
49,424
13,543
33
460
757,153
187,391
2,097
19,773
41,160
17,044
103
2,414
695,697
Otduetehipmentt—
Orerland to N. Y., boston* Ae..
126,011
2,310
Inland. Ao.. from Soath.. .......
26,442
14.036
209,261
19,566
154,763
LeavlBK total net overland*..
35,388
547,897
21,694
540,934
* tnoladInK movement by rail to Canada.
The foregoing shows that the week's net overland movement
this year has been 35,388 bales, against 31.594 bales for the
week in 1895, and that for the season to date the aggregate net
•verland exhibits an increase ovor a year ago of 6,933 bales.
Might and 8pinner(f
Takings.
Beoelpts at ports to Deo. 31
Net overland to Dec. 31
Voathem consumption to Dec. 31
Total marketed
Interior stocks In excess.
Came into sleht daring week.
Total in sight Deo. 31
Worth'n spinners tak'KS to Dee. 31
1896.
Week,
219.122
35.3^8
22,000
276,510
2,273
274,237
44.881
Binet
Sept, 1.
4,923.2.53
547.897
361,000
5,832,150
457,881
6,290,031
1895.
Week.
176.324
21. .".9 1
20,000
217,918
13,169
204,759
946.520 73.792
8inee
Sept. 1.
3,544,666
,510,934
364,000
4,449,600
550,9f3
5,000,563
1.012.195
* Decrease durioK week.
Weather Reports by Tblkoraph,— EeporH to u-> by tele-
graph from the Sauth tonight indicate that in the S luthweit
rain has been quite general during the week, but e'«e where
the weather has been dry as a rule. The movement of the
crop, however, has been quite free. ^i *
Oalveston. Texas. — The weither his as a rule bsen very-
favorable for farmiatr ooerationi; l;ito raias hivH retariad
work slightly, but otherwise havd bean beaefiiial, Tha
week's rainfall has baen one inch and twenty huodredchs, oa_
46
THE <HRONiCLE.
[VOL. LXIV.
Ito ikOTMMMtar kM a««nc^ SI. ntngiog from
^'rurtr' 1taM.-W* Im«« Im4 nla o« thrM day* durioK
*• WMk, Ik* pnMUmtitm rMchlu o«« Inch and «»»«>»»•
* JtaSHli, ThM* — Bate baa falWa h«avllr on two dar* of
Ik* w««k. lo Ik* *xl**t of OM i*eh and tblny buDdrvdUu.
A««f«c* tfcti— »'*r n. k%bMl M. lowMi U.
i,nM&-Ba«fleM nis baa faUMi, but moro U
TlMf* tea bara imta M Ibfwi dajra daria« ih« w«ek.
I mnbW two ieeba*. 1im iharmomewr bat
!«. U* blcb«*ibrta« « and th* Iow«m >J.
^ nam*.— TiMrp hii b«*n nin op two dty of
tk t* tka rxirot ol iiztT lix buodrWIiha of an locb.
Ik* ikaraMMMt^r ba* mttnuni 51. raoRioK from M lo (K*
Imttam. f^aa* — W« ba*» bad rata on two dari durioK tha
waak. l(* talafjiU b«<«K ••««iiy flv* bnodiydih* of an inch.
Ik* ifcii ai lif kw raog:^ from SS to 68. arrriKinK SO.
C>i<aai(»<a. Ikaoa.— Riin ba* fall«o on twodajcof the week,
to lb* raieal of oaa Incb. A ver*K« ihermomrMr 5i, bigbaat
Ommm, ft— i Tnm ka* b**n licbt r«in on ihite diya
4w«M Ik* w«*k. Ik* ratafatl teinic rUbiy-flre hundredths of
silica. Tba ihatiMuoi'Wi ba« avrraK^^i 53. the hi|{^<^>i b«-
iHtT4aa4lK*k>w<M». ^ ^
fkrt WmHk. rM«M.— Kain baa falUn oo thre* day* of the
wmkf tp tk* ralenl ol two lacbc*. Averac* ibermomewr 44,
ktakfi* « a»4 fowaat «.
WmOurftrd. Tkaoa.— W* bave bad beary rain on thr««
daya dwtec tk* w»»k. tk* pTMripttatioa reaebioK two inches.
Tk* thmtt^MfUr baa avcraccd 48, tk* hicbast being 06 and
lkalow**iW.
JWwa Qrliaai. I«wi<«<aiia.— It bss rainrd on one dsy of the
w**h,l«tk* rxt*Bt of OBo Inch and one hucdredtn. Tn»
tknatooMlrr ba* areraged SO
BkiiaMort. t/mMama. - Bain baa fallen on three days of
tba wrrk lo ik* eslrai of flfiy-tire handn>dths of an inch.
A««rag« ibrmoatMer SI. bi«bMi 78. lowest 37.
IjImmI. IUmtmtppi.—Vt'» have had no rain durinc the wrek.
Tk* th*nM«alar b«« aferagrd 46-3, the higb«at being 6S and
tkelowMttt.
LUtU BoeM, AHUmaa*. — There hss t>*en no rain darini; tho
week. Tb* i b« rtaomru r baa raogf d from 23 to 64, averaging 44.
BtlmM. Aritanmu — We harr bad no ram durirg (he w<M>k.
Avrraga ikrriBoaielcr 40 ."i, higbrat S5 and low<si 22. D?o-
Mahrr raiafall. twrniy-eieht hundredths of an inch.
JlnapMa, Tkawaaer.— Dry weather has prevailed all th«
waak. lb* ibetmoairler has averaged 40*9, the highest being
IMaadtkahMraMSlS.
MHtaUk, }««iMi«M. — There has been no rain the past week.
Tka tkaraoMter baa aTeraxed 40, rargioic from 19 to 60.
JloM*. JlBknain.— We have bad no raia during the week.
Tb* thanaoaMlar baa ranged from 81 t<> 69. averaging 48.
Itainfalt(«rD<«aaib*rtkraeiDobaaandthlrty-cwo hunitredihs.
MamtgimmTi, Alabama. — We hire h»d no rain the pn-t
waak. Avarage ikarmometer 44, highest 34 and lowest 3^.
BaftfaH for moath of Daoeaber, two inch-ti and twenty
kndfadtka.
AMWiaaA, Oaorgio.— Raia baa fallen on tivodaTS of the
watk, lo tka esteot of forty-ttaree hundredths of an inch.
Awtmc* Ikermometer 49. bigbeat 63 and I jwest 28.
AmtftHta, Qmtrgia. —We have had only a tritco of rain the
■Ml week. Tk« Ibermoini tar has averaged 43, the highest
Mac Maad ib* lowest 21.
Okarlntom South Carolina.— Rain has fallen on two days
•f tk*w*ek.ihe rsiofsll reaching tweniy-one hundredths of an
iBOk. Tb* tkrraometer liaa ranged from 29 to 59. averaging iA
AMtkarv, Homth CaroUna.—We have had rain on two days'
of Ik* wet a, to ibe< xtrnt of forty 6ve hundredih« of an inoo.
Aeerag* lb»raomat»r 41'6, highest 63 and low st 23. Decem-
ber raiafall Ibrr* inches and nineteen huadrrdibs.
H'iUoa. iVorf^ CanMina.—Rtia has fallen on one dir of the
week, the raii.fall reschirK ten bunrtredtbs of an inch. The
Ikara uoti lrr bas raoced from 20 to S6. averaging 87.
laau Omtoi llOTKiiK.Tr Fbom all Pobtc.— The receipts
Mid a klpw a w la of oottoa at Bombay have been as follows for
Ik* waak aad yaar, brlnciag tba flgurea down to D c. SI.
W*Wa*V m^^fmrm twn <
w»^w»'.*« ,^,w vnr"
OT^^a
fl^B
iMttmtk.
um.
#000
l»;Ono ti
•.000 L. ..
li^M0|M,0W
AjOOO
a ktfm t nU eiixe ttpt. 1.
t,000
»,000
•7.000
ISI.000
34.000
111.000
rmu.
101.000
1X7.000
3*000
130,000
Km »i pl t.
Thi*
Vask. aipH.
SB.O0O
61.000
tXOOO
40,000
305.000
532,000
1 19.0 t/
288.000
t ht fmml t eiits* a*pL 1.
•3,000
••,000
74,OC0
8i,OuO
axFoaia *o aoaora raoM au. imHA.
mmUmmnpa
fnm
!•••.
180ft.
im4.
nut
wsdk.
Mmss
WIS*.
4S*»-
nus
MSk.
*MS(
SipLX.
•Mibay
4U ether parts
6,000
3,000
101.000
74,000
10.000
6.000
137.000
84,000
0,0 >0
4,000
35,000
64,000
TMal
•,000
175,000
16,000
221,000
I3,00ol
00,00»
ALaXAKDalA BBCUnS XHU SBirMBITTS.
so.
■ essl p Si leaalara*).
rhiiwaeh
•laoeinpt.1
1896.
314.000
a,8>0,000
1895.
270,000
3,718,000
IBM.
S70,00O
2,918,000
gzporta (1>alea)—
1x1 Uverpool ....
TaOoDtlD«Dt>...
flUf
Aims
a$pt. I.
0.000 184,000
6,000| 136,000
Tkit
9,000
4.000
ainet
aepL 1.
303,000
141,000
Tki»
tine*
141,000
13,000
10,000 l5i;00O
folal Kaiope 14.000l320.000, 12.000 313,000 22,000 202,000
* A aantar i« 98 itound*
•OrwnloBtn \iDerin«ln 1996-97. 11.16) bales: to 1885-96,29,474
bsl**: IB I '•0405 13.600 H»I>M.
ktANCHESTKB MARKET. — Our report received by cable
to-niglit from Manchester states tnat the •mtraei i* steady
for toth yams and HhiningH. The demand for both India
and China i* improving. ^e give the prices for to-day
below and leave tnoee f.T previous weeks of tois and last year
for comparison:
IIV.S7
189«
33t Oop.
Twitt.
8>« lit. 8liirl-\0otrH
ingi, eommon\ Mid,
toflnat. I Upidt
d. d.
«"i«a7ii.
Oeo 4 6i'i«*rits4
11 eV *7S 4
" 34 6 -IS •7*1
" 8ll«>s »7aB
d. s. d.
4>sa6 10
4 aoio
3 06 9
2 ae 8>«
3 #6 8
2 46 8
d.
4"s,
4».-ia
4'3,
4's^
4
1805.
32« Oop.
lM)Ut.
8>« <»«. ahirt-
ingi, common
loftnal.
s. d. ad.
6i> «»7>s 4 6 ••
asg *7^ 4 ."S «6 8
6\ •77„4 fiiaao 8
6% 97>s |4 5>s»e 8
6i>iga77,«4 5 we 7>«
6\ *7>s k S>s96 8
HKA ISLAND tJoTTOM UovBMBNT.— We nave received this
(Friday) evening oy telngraph from the various ports tbo
details of tne S«s Inland ootion movement for the week. The
receipts for the wee<i ending to-nigbt (D--c. 3i) and since
Sept. 1, 1896, the stoctta to-niKht, and the same items fo( tha
eorrefloondinc onriodn if 189S. ire i«r follows.
189H.
1895.
m»ek
a»e€ipt$ to Dee. 31.
TkU
wetk.
Sine*
Sept. 1.
Tkit
wtek.
ainet
Sept. 1.
1896.
1896.
BATftnnah ................
2.917
160
1,830
~4!907
1 9,181
»,4tH
5,583
84,412
2,2S7
377
524
"s.iss
61.364
27-72S
15,788
8.705 6.298
4,014 3,815
3,491
782
norld& &o
Total
74,113 37,831
i9,05»
I be exporu tor the week ending this evening reach a
total of 6,729 hales, of which 4.174 bales were to Oreal Britain,
8.15 to France and 200 to Re'ai, and the amount forwarded lo
Northern mills bas been l,3S3 Dales, Below are the export*
for the we -k *nH ^inoe '^ept<»raber 1 in 1896 and 189.'5.
Xxportt
ITcek Sndint Dte. 31.
Knet Sept. 1, 1896.
irorlA'n Jlilte
Brtal
Brit'n.
Fr'net
■ 55"5
555
284
rotoi.
Sreat
BrU'n.
Pr-nee
*t.
n>la<.
ITm*.
MlUM
aepu\.
Vvann'h. Ao
Otaarl't'n.Ae
Plurlda. Sto.
New York-
Boston
Baltimore..
3,493
i'370
i',3ii
~6il74
1,«31
3.493
r.sVo
555
1.311
6,729
12.022
1,938
1,170
6,355
2,114
23,799
2,776
3,0isS
"102
5,9 «e
14,798
1,933
1,170
9,423
2,114
102
29,745
923
"ieo
~li888
~i,009
14,78»
771
4,213^
Tetal
19,774
Total 1895
2.116125.067
5,232
30.299
25,14»
(Quotations Dec. 31 at Savannah, for Floridas, common,
10c.; midium fin», 18'^c.; ohoio", 16c.
OharlMHton. Oarolinas, medium ttne, 18o ; fine, 2Ic.; fully
One, 2309 94c.
JuTB Butts. B*aai.Na, &c.— The market for jute bagging
has b<«n feaiU'eless during the week under r-'View, but prices
are as last quoted, vix.: 4^c. for 1^ lbs., 5c. for 2 lbs. and
5t^o. for standard grade* in a jobbioK w«y. Car-load lots of
standard branrln are quoted at -i^c. for 1^4 lbs.. So. for 2 lbs.
aod S^c for 2\i los. r. o. b. at Mew York. Juce butts con-
tinuH dull at 1 i> i<2c. for paper quality, P^^c. for mixing and
3o. Dumlnal for suianing butts, all to arrive.
aRiPPiNU Nkws.— The exports of cotton from the United
St»te» the past week, as per l<\teM tnail returns, have reached
23i,477 bales. So far as the Southern ports are concerned the**
ar* tba same exports reported by telegraph and published in
the Ohkoniolx last Friday. With regard to New York we
include the manifests of ali vessels cleared up to Thursday,
TottU btUtt.
Wsw ToBB— T<- UTwrpool. p«riit«iiin<-r Cerle. 8,223 8,331
To Hul'. per tietmer (Vilornlo. 1.744 , ... 1,744
lo ni'ilnn. |>'r •l«*'nrri Uiuridaa, 8)0....tililiu, SOU ap-
liinil,? OH>alsiiii<t 1,850
To II •vr«. per itetmer iM OMOogoe. 831 aulaud, 315 a«a
■ ••Ut.d 1,18»
To Brniii'D. per sleMnisr* Uavil. 8. .LihD ( uldttlnoal), 127
...Mun h-ii.K»4 1,094
To Hamburg, per iteameri Anuria, 3iO...,P4titt, 4UJ.... 840
Jasdaby 2, 1867.]
IHE CHRONICLK
47
Xbw Yokk-( Concluded)— ^,„ _^ „ Total batet.
ToAitwerp, per ateamers K><n8lnj5toii, 350 — "»U oain-
bert.236 .-••• '^•J?"
To Ootteabars, pergteamsr M^reaxo, 576 0/B
To Chrigliana. per tteamar Norge. 100 100
Toa«aoa,perKteamer Harai%. 1.310 '■•irA
To Naplag. p«r steamer 8arnla, 80J ^. ouu
H«wOBi.BAS»—r'. Liverpool. pBrateamori! EQglueer. H^JO....
Madrileno, 5,400 Siceto. 4,500 Polano, 7,984 24,181
To Havre, per stea uer.? Beodo, 6,80»....O sitUlaa, 3,i»0J „, _^,
...Coraioa. 5,232 ...Itnaam. 11,700 ^Z-?2J
To Bremea, per steamer Knight Companioa, 7,5x) 7,500
To Hambarg, per steamer Canadla, l,SO0....ae»cymla, , „„_
3,200 ■ 5,000
To A.otwerp, per steamer 8»rdliil»Q Prince. 1,000 .. ... J.^S?
To Qenoa, per steamer Tasoaa Priooe, 3,<<50 3,850
O4LVE»T0i«— To Liverpool, p-r sneamxrs A.shmore, 11,400 ...
Aronmore, .-i.gso ..Frosbfleld, 5,385... Wdltbr, 4,429
....William Cllffe, 6.772 ^Ml?
To Havre, per steamer Ha ftleld, tf, 636 « ,?'5„5
To Bremen, per steamers Aoaoia, 6.813 — Halln, 8,159 11,963
To Antwerp, per ste.imer Blenheim, 1,300 1,300
To Temande, per steamer Bleohelm, 300 300
To Alosta, per steimer Blenheim 100 .^.... 100
MOBILB— To Liverpool, per steamers Beccliff, 4,527 — Mont-
go me ry, 8, 4 SO , — ^l-iuJ.
P«lf9ACOLi— To Liverpool, per steamer \liola. «.000 ?•??„
8AViS>fiH— T^i Bremea, per st«aoer Plaoet Veaus, 4,550 4.5->0
To Hamburn, per steamer Planet Venus. 3,611 3,841
CbA8LKSt«.s— ri> Liverpool, per steamer Empress, 6,362 up-
land, 112 Be* Islaml 6.474
To Manchester, per steamer Casos, 4.982 apland, 3li 3ea
Island 5.194
To Bremen, per steamer Wooter, 6,61'f 0,-<l8
Port BoTAL To Liverpool, per steamer Inohl8la,6.172 *'^'?
Wilmington— To Liverpool, per 8t«amerQraft'>e, 10,323. .... 10,323
To Bremen, per steamer Ltef Erloksen, 1,000 (additional) . 1,000
KotroLK— JO Liverpool, per ateamers Lambert's Potat, 4,147
...Sheikh. 3.191 8,138
To Havri", per uteimer ilenhelm. 5,i00 5,200
To Hamburg, per eta»mer .100 10»
BOi.oa— 10 Liverpool, pnr steamers Catalonia, 1.7u9 ...
Kansas. 1.893 upUnd and 750 Sea Ifland ...Nersemtb,
3,414 upland, 173 8ea Island 7,939
Baltimobe -I'o Utlfau, p r «teamar Dd Ltoslowae, idS ... 304
PdlLAOBLPHIA-ro L'verp.xtl. per MtA.smer Waesland, 537 .... 537
tm Fbanoihoo— To Jaoan, pjr steamer China, l,57<i 1,576
To Shaighal, per steamer China, liO 120
ToUl ~ .232.477
Below we add the olearanoes this week of Teasels carrying
cotton from United States ports, bringing our data down to
the latest dates:
Oi LTBSTON— fo Liverpool Dec. 28 - Steamer Rita, 6,185.
To Havre -Dec. 24- Steamer Kendal Ca<tle, !),2b0.
To Bre ueo— l»dC. 27— Steamer t'ulw.jll. 5. .!!>•*.
To nambar«-I)eo 30— Steamer Elenmoor, 5i0.
To Copenhagen— Dec 24- SteMasr I'aorat >od »le. 1,200.
Mew Oblka!<s I'o Livnrp i.ii -Dec it— di.<4m«r 9onr'0, 3,915
Deo 30-Ste»mfr Floridlan, 3,560 .. Deo. 81— Staamera Q.slUgo,
3,450; Veau, 6,600.
To Mancj-Mt-ir-UdC 3 l-8tea-ner Laurel Branch, 6,500.
To Hull -Deo. 2iJ— Itea ner «<lntin ta'e. 3,0)0.
to Havrrt— Utfo. 30— It^ainer Uoatezuna. 11,850.
To Bremen -Oeo 26 -Steamer Bt. Oiwald, 4,600 ....Deo. 30—
Steamer I Ur, 9,650
To Liibin-O.-o 2d-Shlp Perrara, 300 Des. 30— Bark Bella
FortLigosa, 350.
To Barcelona-Oeo. 30— Steamer San Franol<oo. 6,500.
Mobile To Llv rpool— Dso 28— iteamer K .yalNt, .^, !6^
Pensacola-To Liverpool— Dec. 31— Steamer Netbergate, 1,491.
To Tarn plou— Deo. 30-8teamer Uto, 250.
SATAicRAa— ' o Liverpool -Deo. 3 1— :5teainar Alderly, 5,753 aplaad and
3,493 Sea Island.
To Bremen— Dec. J8— Steamer Strathbam, 11,8)0.
To Qenoa Deo. i9—3teaner Klngiwood. 1,150.
Bbokswiok— To Liverpool— Deo. 31— Steamer Uarva, 18,003 upland
and 1,370 Sea Island.
OHAKLEaTon— To Bremao— Deo. 30-8teamers Mab. 8,717; Nordkap,
5,673.
To Barcelona— Dec. 24— Bark Maria Antonla. 1,251 .
Port Botal-I'o Liverpool -Deo. 30-Steamer Hllloras. 5,990
Dec. 31— Steamer Wernetli Hall, 8,112.
NoirjLK-To Liverpool— Dec. 31— Steamers Dorset, 5,935; Wilder-
spool, 7,500.
To Bremen - Deo 30— Steamer Bretwalda, 7,950.
HawpoKTffBWS-ru Liverpool— Dec. 24— Steamer Kvnawha, 1,500,
BOSTOH— To Uveroool— Dcc 2 j -Steamer VlotorUti, S,0rf4....OdO. 21—
Steamer Angloman, 1.915 upland and 561 Sea Ulan'l....Od0. 26-
Steamer Co intbia, 3,098 .. Deo. 2»-Bteamers CestiUn, 8,786;
8ach>m. 8,3>!2.
Baltikokb— To Liverpool— Deo. 28— ^t.utmer Ulsterm^re. 3,532.
To Bremfn— Deo. 28— Steamer Wtlmar, 3,750... Deo. 30— Steamer
WlUenad, 1,000.
To 8>tt.«rdam -O <o 15— Steamer Urblno. 500 ...Dw. 2t— Steamer
Rubenstein, 4.50— Deo. 28— Steamer Nerano, 738 Deo. 19-
Steamer Tabaxco, 500.
To Antwerp- -Oec. 23— Steamer Scottish Priooe, 1,700.
To Beifa.it -D.-c. 30— ite*mi-r Londunderrv, 1«8.
Pmiladblphia— I'o Ltrerpiol-Dju 2 -<- 8c<i»iuer I udlaaa, 452.
To Antwerp- D w. 23— Iteam.^r [lilaolt, luo.
Bax FBAMcisco-ro .lapin-Uao 29-Bteamer Baltic 2,60').
To Chlna-Djo. 29-8tekmer Belglo, 10.
Cotton freights the past week have been as follow".
aatur.
Hon.
ruM.
Wedntt.
T^Hr^.
rr.
JUTerpool,asked.d.
'•lS8
»lf9
«»I!»
l»„j
>»lt8
Do .... ...<t.
• •••
.•••
.•>•
.•
.••
Havre e.
J'HiT't^
3''»t>'9\ Jt^77V
j/'vr'it
31i«'
Bremen d.
301
801
sot
sot
301
Do d.
..M
,^
^
.^
..*■
Hamburg ..d.
»..
»ss
•m
»tt
301
»
Do d.
• ■■•
....
.•••
-•••
....
Amsterdam e.
SSI
S5t
851
351
30*331
5
Beval, V. H»mb..((.
"61
»»ai
"si
"«*
15^
H
Do V. HuU...d.
"».
»'«4
"<i
»«.
"•4
BamelODa. d.
...
....
-■M
.-••
....
Osaoa ,. ..d.
"««»»1«
lljuAS Jlt«ja3..
"«4»»i«
351
Trieste. d.
»l*
»1.
*16
!
Antwerp d.
lis*
"»♦
»»64
»M
»s»
Olient,v.Antw'p.(l.
IS,.
"«•
«»«4
»'M
»I«
:
LiVKBPOOL, —By oable from Liverpool we hav j the following
statement of the week's sales, stocks. &o,, at that port.
Sales ot the week bales.
Ot which exporters took
Ot which speculators took. .
Sales American
Actual export ....
Forwarded
Total stock- Estimated
Ot which American— Estim'd
Total Import ot the week
Ot which American
Imonnt afioat
Ot which American
Dee. 11. Dee 18 Dec. 24 Dee. 31.
73,000
2,500
3,600
69,000
3,000
84,000
818,000
693,000
199,000
181,000
341,000
333,000
77,000
1,000
1,800
74,000
8,000
81,000
856,000
722,000
130,000
115,000
321,000
320,000
65,000
1,700
1,700
62,000
6,000
71,000
912,000
763,000
133,000
106,000
387,000
360,000
44,000
1,900
400
39,000
3,000
50,000
999,000
854,000
145,000
134,000
335,000
330,000
The tone of the Liverpool market for spots and futures each
i\T of the week ending Oac. 31 and the daily closing prices
of .ipot cotton, have been as follow?.
Spot.
aatirday
1.
Konday.
Tuetday.
Wtdfday.
ThMnd'y.
Friday.
Market,
1:45 p. u.
Jlld.Cpl'dB.
•ales
Speo. diexp.
Quiet.
4I32
8,000
500
Kasler.
3»i a
12.000
1,000
Pair
business
doing.
^0,000
500
Easier.
4
10,000
500
5
1
FaturtM.
Harket, (
1:45 p. lf.(
Harket, {
4 p. M. (
Quiet.
Steadv,
Steady.
Steady.
steady at
3 04 @ 1-14
advance.
Basy.
Steady at
partially
IJU adv.
Steady.
Che prices of futures at Liverpool (or each day are glvr a
o<)low, Prices are on the basis of Uplands, Low Ofiddling
clause, unless otherwise stated.
-r* TKep
rieea are
given in
pence and 64(A Thu$
■ 3 63 ffteatu
1 H:i-64<i., a
nd 4 01 meant 4 l-61d.
Dee. 26 to
Dee. 31.
Smtar.
noa.
Toe*.
VTed. Thara.
FPt.
1:45
1
1:45
4
1:45
4 1:45
4
P.M.
P.M.
P.M.
P.M.
P.M.
P. M. P. K.
P.M.
d.
d.
d.
d.
d.
d. d.
d.
D^Member..
3 61
3.57
3 53
357
3 61
3 58 3 5!)
3.59
Oe>.-Jan...
3 59
3 55
3 .56
3 55
3 59
3 36 3 57
3 58
J<o.-Peb...
1
3 5S
3 51
3 51
3 55
3 5S
3 55 3.56
3.57
1
Prtb.-MarolL
3 58
3 5t 3 51
3 5,5
3 58
3 55 3 56
3 57
sfch.-AprU..
\prll-«»r..
3 5H
351335
3 51
3 5S
3 553 56
3 57
O
3 59
3 55 3 55
3 5.5
3 5S
3 5613 57
3.58
at
May-Jane..
.
3.59
3 55 3 56;3 5-l
3.59 3 56 3 57
3.59
June-July..
3 80
3 56 3 56
3 56
3 60 3 57 3 53
3 59
July.-Aag..
Aug.-Sepl..
361
3.57
3 57
3 57
3 60'3 53 3 59
3 60
3 59
3 55
3 56
3 56
3d9;3.''.8 3 57
3 57
Sept.-Oot...
^,
....
...
.... .... ....
.••■
Oot-Mov .
...
1 ...
...1 .... ....
....
Oeots net per lOO Ibt.
BREADSTUFFS.
TaaBSOAr, Odcember 31, 1898,
Only a very moderate valums of bujinsss hn bjen trinj-
gcted in the market for wheat Hour during the put week.
Tbe home trade has limited its purchases to immediate wanta
^nd the export business ha aUo bean quiet. Values, how-
ever, have ruled tirm and for trade brands they have been
advanced 5 to 10c. per bb<. in sympathy with a stronger mar-
ket for the grain. A.t the close the market was firm but
qn^et. Rye flour has been freely offered and prices have
weakened slightly. Buckwheat flour has received slightly
> ncreased attention at about steady values. Corn meal has
had a limited sale at unchanged prices.
There has been a moderate amount of activity to the speo-
uUtive dealings in the market for wheat futures and prices
adrdDced early in the week. There was fairly free buying
for investment account. Foreign advices reported advancing
markets and also brought buying orders. There was also
a fairly large decrease in the supply of wheat on
passage to Europe aad tbe American visible supply
ab}(ved a decrease. Crop accounts, both from Russia and
Argentine, were also of a nature to stimulate buying. Later
in the week, however, there was selling by longs to realize
profits and part of the improvement was lost. In the spot
market business has been quiet. To-day the market was dull
aid without change.s of importance. The spot market was
quiet but steady. The sales were limited to 8,00J bushels
spring wheat on private terms. No. 2 red winter was quoted
at $1 00^ f. o. b. afljit. No. 1 hard D.iluth at 91?^c. f. o, b.
afl)at ana No. 1 Northern Duluth at 93X<:. t. o. b. atloat.
aaiLT OLoiiRO PBioas or no. 3 bbd imrraB whbat.
aat. Wan. Tuet Wed. Thurt. tri.
Oeoember delivery.. ...o. J 90«i
January delivery 0. a 93
March delivery 0. 2 91H - _
May delivery ...0. o 83^ 89^8 ss^g Si\ ^''V
JulydeUvery 0. U SS^s 88I4 85i8 85>« M
There has continued a very quiet market for Indian corn
futures, and in the absence of new features changes in prices
have been unimportant. Eirly ia the week there was a
fractional advance, in sympathy with the improvement in
T'let
Wed.
Thuri
92 >•
91»8
....^
9l«g
00 >i
90 <«
93 >s
92^
92 1«
89^8
SSTg
83^
88I4
8518
85>«
4S
THE CHRONICLK
[Vol. LXIV.
••«>{i^1
\mm Ml »e;t«o riiurt uad*. SaiaMia'uiljr. how*
ll^ia«,k«tlar«' ! •.•.-' a .1 OMftof ih* laipruVMIMBl
I«lte»t- p^w ht»« l>«»o uiiTer* ftOd
tacllH-l ^a. 3 oiixnl »t WJf^ tMir»«vl. To d»r
i«w4«llMtd aae(MMr«4. Tm hmi iu>rk»t waa
TfciMl— tontn'-^ *<- *mln4 M 39^ ^- >*•"*'*'***
«^t,t «M«M " -^ < '-^ • ■»•■> o<***
JM H*^ r^l. Vai. r*H><t /r%>
1l iii 5^ t*\ t*>t '*'• is
• 41 *tH tl\ *tN S>H I?
OMaiM («tui«il«liT«Tv harvteMi qaivt. UurinK th« Dnt
teMoltk* *f«k'p«toM ImM MMd^ with «b.>«i a'>d ooro.
aaftMWVwUj, l»«ww. tWf« WM a w«»k»r drift to rmlUM
w47ti«*«««tV hy Uf»d hMtn. ^U «»• •!»« ««>•»*« •
■ iiiwiilH 1' botli shipper* aad
baytt*. Th« bu«lo«M inaMcMd
I «i»»d eliptwd at Stc. t.'i b. afl »t ; No. S
Im tl(9tl)i|«u la •Urutot and No. « whtM ftt U^o, la
«f. T»-4w Ik* OMrkol wM dull Mid ai>cb«iig«d. Tb*
rl7 •ctiv* aod stMdT. Tb« lal'^in-
raMxvdettypvtflotipurirnai alwui Sic f.o.b. sflaftt.
No. • « U»d «M M IfcU. IB •toTMoTMiU No. a whit* at HUe.
aM. »•«. r<M(. w*4. ntwrt. #r.
,. ^a. ^ . tt ai ti%
i«Si.T^t !i «•* '.s- ?k
iMtr .a. - »♦<• at>«
tlw faUowtac art oioainx quotatioaa:
wtoam
Tha valiM of Iha New York exports for the .roar to date ha
»ao •10.749.1M io 18M against 19.390.019 in 1)495.
The axpon damaiid (or brjwa«li»e(intc4 aal drills has fallen
le ttiniladdlaMiaiooa thU week. whiUc siles to home hurors
have aitaia been on a email sjale. Kxpori Kfsdee arn (Irm in
erioe, bat oiltai<le of these the tend'^ucy is ftlll io favor of
ayera, alibotuh the aiarket U not ()u>>iAbly Io wer. Bleached
eottoni hare aoll slowly and io limited quantities only, nor k
the morement likrly to be a free one until leadlDK axenta
mak* sooM .defloiie anoounoemeot on prices. L )w-grade
M-inhti ara weak uoder priat cloili iofluenoes. Oeaiins
oonilnua inaetlTe and irrexular. Tick'*, plaids and other
ooaraa-oolorrd oottont slow and featureleaa. Kid-tin-
UKmI r«mbric« io light demand and easj to buy.
\'. t>tiogs, cotton flannelx and blankets, quilts
k! . lioodd, inaclire and featureless. Buiioess in lancy
caiioofa and flofr upet-ialties has been quiet and there haa
been but an indifferent demand for such reRular calicoes
as iodi>;o blu'ii, shirtings, Turkey reds, staples, etc. Gioifbams
inactive ihrouKbou'. There has been no buiiness in regular
£rint cloths, which are nominally 3 !^c. per yard, and odds
are been in light demand only at ea«y prices.
1898. 1895. 1894.
tfeM 0/ Print OtoUU— Dm. 26. Dct. •2i.
at Providanoe, «i MioarM. 43«.0O0 127.000
atrallKlT«r.«t •quares.. 893.000 l.%e,000 86,000
41 rail Blrer, odd sues.... 909.000 1S1,000 74,000
■ii\
n
t3\
n
aws IS -—....» .^.o
Bal«M>..~....~...
tVisMlMtl
SB«%IBr»*.S.
■•4 wtatM.
parW. IS
,—... ._ «i -
tsdsai:...^ nil*
t wuw
9 Ml. 91 00* 190 raisal, vialar....~.»4 7S* SM
tstoaau oirwtUsaxtrM — toi* a lo
875* S4X mrsaoar.saMrtas.. V70* S 15
S40* S»o BMkwfesMiaar..... Ii5*ias
a •»• 4 M Onra waa^
4 TO* 4 80 1 VaaiarB.*a. _ 193* a M
4Ma 4WS Braailrwtas > 110
sails as pneas below thots tor bkrrsU. I
M
4<
50
83
I Oara. pat bosk—
Wesra nUzsd..
M • 87 West^a BUz*d..._ 28 a n
98% • 100% Ho. 1 nixed. I9>«» all*
91i»a 101 I Waatara T^Uow... 17<s» M
tS» t*H\ Waatsn WUta.... Vl^m asia
• n>s Rr^
II I ITsaSsra, per baah. 3> •
ITitl MaMaad JerssT.. 38 •
32 •
144* U >s I BarIrr— Westers.... 43
; rMdiBX ~...
ror otbar labloa asaalir s1«oa bora soo »ma» SO.
THE DRY GOODS TRADE.
IfKW TOBX, TucasDAT, P. M.. Deo. 81, 1896.
Tha pnoiary nurkat during the past week has presented aa
aakrakaa aapoct of extreme dulnoas in all department*.
Tbara haa baaa a poor attendaooe of buyers and but a rery
■Miamla aaooat oC hndaaai oomiog to band through the
■alik Wilk Iha JobWaf tfad* there haa bean mare busineaa
;, th* loadiaa; aaaatal jobbara making special prices to
%p tbair atooka bafora Ike end of the year. The oon-
•it Hkb aarkat at llrat haadi is not encouraging at tho
o( ikia 7«ar. Bayars have ahown no disposition to da-
tkair potioy of eitreme roserve in either cotton or
la iha former stocks of staples are andoubt-
aad in the latter the display of new heavy
«aithi* for a«xa fall la abaormally backward. There is no
tiMlailoa to aaOtn to aatfaavor to force bnsineaa eitbar by
■ahlag hwar pctoaa la the one nor bj a fuller display of
aaapl** ia tb« other. The tendency of the market is to favor
tayarala eotloo goods, whilst there seems to be a relinquiah-
aof kopea of aa advaaoa in wooUna. The continued Qoan-
tnablee ia tha Wast ara a aouro* of disquietude, and so
ar aa oolleotlaea ara ooeoaraad tbay have had little or no
1893
Dte. 29. Dte. 80.
40,000 142,000
TOVUmxtO OotTOli OOOM— Th* axporta of cotton goods
mat Iki8 port for tka w**k ending Dao, 38 were 89*
-— — , aatead at |«S.M(t, thalr daatiaatioa batn* to the
-"H la th* tablaa balowi
llJ.O^O
29,000-
T«talStoek(l>laeMI.... 2.238.000 414,000 180,000 184,000
WooLix QOJDS. — ^Th>re has been no general disposition on
the part of agents to show further new lines of heavy-weight
woolens and worsteds for men's wear daring the week. An
occasional impatient seller has made efforts to interest buyers
l>ut has met with poor succtss, even though some prices named
have bet-n lower than expected. This indioation of lack of
streogth is not calculatpil to encourage buyers to action until
they see what other agents who have not yet shown their
hands are likely to do. For light-weights for quick delivery
there has b{>en a limited reorder demand, without special fea-
ture. The demand for overcoatings haa been moderate and
aa before mostly for $1 to $1 25 kerseys. Cloakiogi are slow
of sale throughout and featureless. Satinets, doeskin jeans,
etc., are inactive. Flannels dull and blankets quiet at previ-
ous prices. Carpets in moderate request. Business io dress
Koods has been quiet throughout for both pUin and fincy
lines, without material change in prices.
Foreign' Dry Goods.— The market has been very quiet out-
side of forced cleaning up business at very irregular prices,
regular merchandise being in slim requeet. For sprmg goods
a moderate number of small orders have been racordea with-
out special feature.
losporlatlona and ITarehoase WItbdrawala ofDry Oood*
The importations and warehouse withdrawals of dry good*
at this port for the week ending December 31, 1896, and since
January 1, I8d6, and for the corresponding periods of latk
yaar are as follows:
ssils
i
<e' >■(?■»•
f.*
§528:2
5$SSi
K ■ ■ a « ^
gi : i s 8
^: i : I S
iilMT
W»4
^wi->COC0
TC 'J3 * tCl 0»
«-ci
toVoODO
►a ~j
MM «3»tC»0«D
etcd mSaod-i
w«-4a><xi
«— M
Mio-iceu
."Si
— ooaioi*
o>a>SS,M
leSw-'e
►'•a 5
OUO«r'SI
^4
.'8
IS OiM M
ga<o
MM
WW*
-1-
otov
C»k9C0 »
to ?•
I
JANUARY 2, 18fr7.]
THE CHKONICLE.
49
Btate AriP City pE fAi^TMEKT.
TERMS OF SUBSCRIPTION.
The Ijttestors' StrppLEMEirr will be furnished
•vnthout extra charge to every annual subscriber of the
Commercial and Fiitakcial Chronicle.
The State and City Supplbmknt will also be fur-
nished without extra charge to every subscriber of the
•Chronicle.
The Street Railway Supplement will likewise
be furnished without extra charge to every subscriber
of the Chronicle.
The Quotation Supplement, issued monthly, will
<auo be furnished without extra charge to every sub-
scriber of the Chronicle.
TERMS for the Chronicle with the four Supple-
ments above named are Ten Dollars within the Utiited
■States and Twelve Dollars i . Europe, which in both
cases includes postage.
Terms of AdvertlslBg— i Her Inch iipace.l
4)lienme »350|Tlir Months (13 t1niea)..$25 00
OneMontb (4tlme8).. 11 00 Six onths (26tlme9).. 43 00
Two Months (8 times).. 18 00 I I^relve Months (52 limea).. 58 00
(The >bove terms for one month and aDvard are for standlnic oards.
Tl«e purpose ortbi§ Slate and City Department
is to f'lmiab our aubacribera with a weekly addition to and
continuition of the Statr and Cttt SUFPLDDtHT. In other
wordB, with the new facts we ahall give, the amplifications
and c )rr<>ctioD8 we shall publish, and the municipal laws we
•hall analyse in the " State and City Department," we expect
to bring down weekly the information contained in the
9TATE AND City Supplbmbnt to as near the current date as
possible. Hence every Subscriber will at all times possess a
complete and fresh cyclopaedia of information reepectiDK
Maaicipal Debts.
Arkansas Non-Hollord Bunds. — Effort to CX>tain an Ad-
justment — Holders of Arkansas NonHolford bonds who de-
sire to participate in the adjustment of their bonds are in-
vited to commuaicate with Popper <S; Stem, 17 New Street,
New York.
As these bonds can only be designated by the number on
the bond, it will be necessary for holders to have their bonds
enumtratfd in the negotiation; otherwise they will not be
represented.
The proposition is for the bondholders to unite in an effort
to secure action at the approaching session of the State Legis-
lature lookirg to an adjustment of the bonds and to effect a
settlement with the .State. While the bonds are recognized
aa Tslid, no interest has been paid since 1873.
Bond Proposals and Megotlatlons.— We have re-
ceived through the week the following notices of bonds
recently negotiated and bonds offered and to be offered for
Mle.
Allegheny, Pa.— Bond Sale.— ThU city has authorized the
issuance of a bond for t5,79t 17, and it is the intention of City
Comptroller James Brown to place the same in the sinking
fund. The loan will bear interest at the rate of 5 per cent
and mature in fire years from date of issue.
Alleatowa, Pa.— Bond Sale.— It is reported that Allentown
baa sold $36,500 of 4 per cent 5 to 30 year bonds at 101-50,
Athens, Ala. — Bond Offering. — Proposals will be received
until Feb. 1, 1897, by Thomas C. McClellan, Mayor, for the
purcbaie of water-works bonds to the amount of |IS,000. The
securities are to bear interest at a rate not exceeding 6 per
cent and are to mature in not less than 10 years nor more
than SO vears from date of issue. The denomination of the
bonds will be not less than $100 nor more than $1,006.
The official adver(i»em*nt ofthistale will be found elsewhere
in thiB Department.
BloomlngtoD, III.— Bond* Defeated.— City Treasurer
Mathew C. Smith reportH to the Chrokicls that at the special
election on Dec mber 21,1896, the people of Bloomington
voted 423 for and 935 against ttie issuance of $75,000 of 5 per
cent refunding hands.
Boston, Mas*.— Bond Sale.— Oa December 28, 1896, the fol-
lowing loan* of the city of Boston were awarded to R. L. Day
& Co. and Blake Bros. & Co. at 102 8277:
LOANS— • — Interest. — , , Principal.
NAME AND PURPOSE. P.Cl. Payable. When Due. Amount.
Construction of highways. 3>a J & .1 Jan. 1, 1917 $500,000
Pulilicparks 313 .T & J Jan. 1, 1927 500,000
School Improvement 4 J&J Jan. 1, 1917 300,0(X)
Various municipal 4 J&J Jan. 1, 1907 590,000
Other bids received were: Lee, Higd;inson & Co. $800,000 at
108 03.
E. C. Stanwood & Co., all or none at 102.
Estabrook & Co., $500,000 at 10029; $500,000 at 10051;
$300,000 at 107-56, and $59 i.OOO at 104 26.
Blodget, Merrttt & Co , $1,000,000 of 3i^s at 100-05.
E H. Rollins & Sons, $300,000 at 107-061 and $590,000 at
103-569.
Lfland. Towie & Co., $300,000 at 108-157.
The bonds will be issued in registered certificates of $t,000
or any multiple of this sum, and interest will be p»yablp semi-
aanually at the oflSce of the City Treasurer. The certificates
will be ready for delivery January 1 , 1897.
The above loans will be secured by sinking funds providing
for the payment of the same at maturity.
BroektOD, Hass.— Bond Sale. — On December 29, 1896, this
city sold $20,000 of street improvement bond^ at 101-35 and
$8,000 of school bonds at 101-07. Ths denomioatioa of the
securities will be $1 dOO and they will bear interest at the rate
of 4 per cent, payable semi annually on the first davs of Jan-
uary and July. The street improvement bonds will mature
in ten years from January 1, 1S97, at the rate of $3,000 an-
nually, and the school bonds in ei<ht years from the sime
date at the rate of $1,000 each year.
Brooklyn, N, Y. — Bond Sale. — Eight bids were received on
December 23, 1896. when $700,000 of i}i oer cent registered
gold bonds were offered by the city of Brooklyn. The bids
rf ceived were as follows : Hirvey Fisk & S ins. for the entire
iseue, 102-47 ; Title Guarantee Sc Trust Co., $100,000 at 103-19,
$100,000 at 10-M9 and $500,000 at par ; Vermilye & Co., for
the entire issue, 101-12 ; D. A. Moran & Co., for the entire
issue in lots of $1,000. at prices ranging from 100-19 to 101 '27
irclusive. C. H. White & Co., for the entire issue in lots of
$50,000 up to $500,000 at prices ranging from 100-10 to
101-23 and $200,000 at par; Hamilton Trust Co., $100,000 at
par; Manufacturers' Trust Co , $100,000 in lota of $25,000 at
prices ranging from lOO-lO to 101 inclusive : Joseph L.
BreiteDSteio. $350,000 at 100 03 and $15,000 at 101-01. The
loan has been awarded to Harvey Fisk & Sans. The securi-
ties will be dated Dec. 30, 1896. Interest will be payable
semi-annually on Jan. 1 and July 1, and the princioal will
mature Jan. 1, 1936. These bonds, except for State purposes,
are exempt from taxation.
Chippewa Connty. Wis. — Bond Sale.— It, is reported that
the $12,500 of 5 per cent bonds which were offered by this
county on D-'cembsr 8, 1806, have been sold at 103 10. The
securities will be issued in denominations of $1,000 each, with
the exception of one bond for $700. Interest will be payable
semi-annually at the First National B%nk of Cbippewi Falls
and the principal will mature in five years from dat>« of issue,
Claiborne Connty, Miss.- Bond Safe.— It is reported that
Claiborne County has disposed of $13,000 of 6 per cent twenty-
year bridge bonds.
Cleveland, Ohio.— BoTid Sale.-Oa Dec. 24, 1896, $200,000
of 4 per cent city of Cleveland coupon water works bonds
were awarded to Dieiz, Dennieon & Prior for $210.4.50, The
securities are dated Sept. 1, 1896, and the interest will be pay-
able semi-annuallv at the American Exchange National Bank,
New York City. The principal also will be payable at the
above bank and will mature Oct. 1, 1926.
College Hill. Oblo.-Bond&iJe.— The $3,212 88 of avenue-
improvement bonds offered by this village on D cember26,
laQ6, have been told to S. Kuhn & Sons, of Cincinnati. Ohio,
at 4J^ per cent premium. The denomination of the securities
will t)e $820, with the exception of one bond, which will be
for the sum of $332 88. They will be dated December 36, 1896:
6 per cent annual interest will be payable at the Citizens'
National Bank, Cincinnati, Ohio, and the priocipil will ma-
ture part yearly from December 26, 1897, to December 26,
1906, inclusive.
Colnmhoe, fJa.— Bond Sale.— Oa Dec. 26, 1896, $60,000 of
4Jj p^r cent redemption bonds of this city were awarded to
the Third National Bank of Columbus at par. The securities
will be dated Jan. 1, 1897, interest will be payable semi-
annually on January 1 and July 1. and the principal will ma-
tare Jan. 1, 1927. The coupons will be free from city tax and
receivable for all dues to the city.
Fargo, So. Dik.— Bond Sale.— It is reported that $40,000 of
6 per cent 2)-vear bonds have been sold by this city at 101.
Far Rockaway, N. \.— Bonds Authorized.— \t the election
held in the village on D -cember 29. 1896, the $^5,000 of street-
improvement bonds and $85,000 of sewer bonds were voted.
I he Improvement bond-i will bear interest at the ra^e of 5 per
cent, payablp semi-annually on the first days of January and
Julv. and $34,000 of the principal will mature from J-inuiry
1, 1898, to January 1, 1931, inclusive, at the rate of $l,OnOeach
year. The remaining $61,000 will mature January 1, 1922.
Galveston, Tex.— Bonds Propojed.— City Auditor Theo. K.
Thompson reports that the city of Galveston may petition the
Legislature this month for authority to issue 5 p"r cent twenty
to forty-year bonds. The amount of the loan has not yet been
determined.
THK GHBONiOL&
[Vol. LXIV.
»ai fwMt* i>fo«>i>li ■Mil Jm«w7 18. in»7. for lk«
><< IWMW •!•»»"*■« fc—*^ *» ■WOf» In from
■Ill»k«r««f4l 8rl4c« fir* DUtrlel. H. H -Oo D*c«mh»r
, tlw foUowlM liO* «M« r«etlt«d bj Ihk dMirtct for
l«« MMTkMdt:
ft.ll ■■naaAMw* .«....»,....^™..« ....~ *221i?*
ti*ii2-f*» :::::ioo
Tt TmiiIhiI i"' ..'■ ^.».~~. >M-
TiM ■— rtllM af* to b* eoapoa boaito of Um dMomio»tioa
of •l.«Oi TWr oiU ko <Ul«4 Jaaoory 1. IW7, 4 p*r ornt io-
MMOl «IU U wypoMl Mit-oaonnly oo Jmomt • >o.l JuIt I
at** VteM NoUomI B«ok of llUloboroach Villac*. N. H ,
om4 tW prtooipol will «MM« JoBiury I, 1117.
N«w« BurMQ r«
■•lyolo, ■mo.-.VoI* AiIc— T%o BoMod N«w« 1
ma Ual ikaciiTof UolToko, Mm* , boa •w«rl''U • mreo-
Ml* for im.000 IO B«d4 ft OoodailD at 8.>; per o«ot
4 P pnoiisiB. Niao ochor U4a woro r«otiTed for
^aru
«Ma.-Oa D«oo«bar M, 1M«. Oilf Tf«a*urer Piorre
■aaTiialnH roc«ito4 tk* followiac Utt of propoMlt for the
(at wa(vrbaa4«:
»••••«• •••• >••• ■••• •••• •••« ••••••■••••• •"" ••
!•• •«••••• ■•*••••■■••>••• <■*■•••••••■*• IvB Al V
... .....108187
• ■ •• •••• • ••• • ••• •■■>•• ■■> - •••••••••*> aW* iF^V
.107 kSO
l*0>
i A O* „......_ .
.OVAOiL
jaw. ftekw a raalya.
.A.V^*MMAOfc
*0» 107-477
,*Oa — .^...~^.-^ ~.~ 107-477
^_*TJ» ~ 107340
a C*^ V. T .M 107-lftO
AOms ..^ - 10«-«SO
102'&0
IWmowIiJoo will bo ooopea cold boado of the dmomiD*-
Haa of •I.MO. datMl J«a. 1. 1W7. aod payable J«a. 1. 1937.
iatrrvot a( Um rata cf 4 per cool will bo payable spmi-
aBDoally oa Jaaoary 1 and July 1. Both priocipwl and
wUI bo payablo io xold at the National Hidi A
Klantoa. N.
•old I
C— Bond Salr.— It i« reported that this city
electric-li)Chi bsod* to the amouat of $4,000. Tho
itritioa will boar < per oent iate^eet.
Laaroaa. H. C—HondSaU.—U ii n-p >rted that thia city haa
diepoaed of elrctric-liubt bsadt to ihs amiuat of |)),000.
Laa Aaffolea Ceoalr. VM.—Bont Sale —It ia reported that
thU ooaniy has aold IT.-'iOO of scliool hoadii. The loan will
boar intrreat at the rate of 7 p«r cent and m%tur«'ia from one
to ten yeara from date of isau?.
Lyaekbarr. Va.— Bond ^ai/. -Sotioe ii girtu by N. C.
Moaaon, Jr., Chairniao of the Finance Committee, to holders
of boodaof thin city, that $14,000 of 3 p>ro«ot bondi, iMoe
of May S, ISVJ. will Da retleemcd on Jtouiry I. 1397. The
numbera of the bonds ctlled run from 1U8 to 135, omitting
numbcra 112, 114, 113, 13), 136, and 12^ to 18(.
Moaat Teraoa. N. T.— Bond O/^crin^. —Propoaalt will bo
reociTed until 8 o'clook r. m January 1 1, 1897, br the Board
of EiuoatioD, Ferguson Huildia({, 3S Weit First Street,
Mount Vernon, N. Y.. for the purchase of $05 .OX) of school
loan bonlii. The securities will bear interest at a rate not
excee<1ineO per rent, pavibl'> semi-annually at the office of
the City Tiesaurfr. They will be dated July 1, 1896. and the
principal will mature from July 1, 1918, to Juir 1, 1980, in-
clusiTO, at the rate of $5 OJO each year. The di'nomiaation
of the bonds will be $1,000 and they will bi ready for deliv-
ery January 31, 1897. A certiOed check for the sum of
$1,300 must aocoaspany each bid.
Proposals will be reoeived until 8 o'clock P. M , Jan. 5,
1867. by the Common Council of the city for the purchase o(
ISO.OOOof S per cent aaaesameot b)ads. Vh-> securiiies will be
dated D'>c. 1!> 1894. loterext will be piyaole semi-annually
at the oflioe of the City Treasurer, and the principti will mi-
nire D^c 15.1903. The deno^iiioa'ijn of the bin Is will bj
$l,rOO. and they will be ready for J<4livery on or before Jan.
15,1897. A certified check for th) sun of $5)0 miiic acaom-
paoy each bid,
Nashai, N. H.— Bon^i Sa'^ — It i^i reporteil that thi^city hae
sold $25,iK)0 of scbojl b •o<ls at 106 7. The securities will
t>ear interest at the rate of 4 per cent and tbe priaoipal will
mature to twenty years from date of issue.
NEW LOANS.
State of New York.
OaarTBOLLBa** omcs,
atmatr o* CasAt. avtaibs,
ALBAHT. OMmtar Mh. lass
■MMM t» la* s iiii i Mii af ra as f rsoria*
•• aC MM, pnesMls ■Ml k* w sl»»« ■( ihto oOlm
OT^aSat.ia* KU *m «f immamn, U*'. at It
■■ at tkM 4mf for * lamB ot
FOUR MILLION D0LLAR8
tmt •*••••■■ kaaS>Mia«o»tlo«of UMsravoMr.
rriaelpal aad I aterest Payable i a Gold.
■M or th« i- a u pta or ta«
10 «C ■•• Twt. oa Um j is a oT tha Maklas
■OaaMaa^haSkf aaMaM. t aa il ii s Im t mrn t a« Ou
!«/ »<w *ara«MM a»^ aMaua. sayaMa •«■••
raataaam Oaya af Jaaaa a r — « Jly. a»S
aata M Utaeiat Sar of Jaaa-
ka far tka mha/U or aay aan ef tka
ataaaaiaw ta<Mf«S In ka ataaa
af U» saavaaal kf «a«aatt la Um
l lwki W aaO»Llai>a<Hy at Ha* Tork
la;- T »— m oftkaSllaof XawTork
a( GkMl ramd- of taaaaoaMorUa
a«k fnaMaai a«4 a m raas lalafaal
I. uwt
•It
la
•<lkanaNb
M aUi «^Baa»aa aa Um SfaC 4aj
aaM.aaS«ill w Mkrakia M Um Baak of
Oat. M ika < Hf of Xa« Talk.
■a« Strartad u> tka
•»»»»OI»«a« »aw Talk. A*a«». !«. V.
J All n A. aoaaBTn.
OamttHnUm.
8100.000
Lackawanna Co., Pa.
4-* Tax Freo Bonds.
I. ia*«. D«a Dar. I. lOOO.
OtT aC —a w u ika Cnaatr Kmi.
rait-a or ArrMCATion.
EOWD. C.JONES CC
— Wrratrr rraarr. aaaaoADWAT.
Daw Toaa.
NEW LOANS.
«» 4.3,000
NEWBERRY, S. C,
6h Water and Electric-Light
Bonds.
•aalad propoaali will tx raoalTad bj (be C'omnili-
•laaen uf PabUc Work* uf Uia Cltf or Newbarrr.
•. C^ aotll Mondar. th« tstli dar of Janowr. 1M7.
(wauPwCaat Walvrand Klartrto-Usbt Bond* to
UMamoaatof rattriwoTtionHUid I>ollar>in denoin.
I n a ilMi . of (600 aaadi ; niunlni (ortj rean from date
aal IntarwC parable annoaUjr at tlie NalioiMl CIIt
Bank of Naw Tork. Buadi tiaarlnK date of Januarj
Ut, l«»7. and eoapou parable on Jaouarr lit ot
aadi ■aeeaadlns raar. Parment of purcbaae moner
to ba made one luUf on ral>nuu7 lai. 1SB7, and other
kalf April let. lg»7. The Tight to mjert anrorall
Mds narrrad br tbe O>iomlaalooara. Parties dealr-
lac to oOar bid*, or aaklns fnrthar Inrormatlon. will
■ddreM JAMBS Mel!(TU!<ll.
B. C. JON 1 8.
JAS. K. (itLIIKK.
CoasBlaatuoara of PablU Worlm.
Newberrr. ». C.
#10,000
ATHENS, ALA.,
Water-Works Bonds.
.Mat<ik H orrim. I
ATHk.\!<. AU.. !><••'. '.iiih. INM. I
Tha l4«lalatara raoaatljr autbi>rlu>J the Maror
aad OoaiMll nt Atbaoa. Alai>am.. lu Iuuk tir.,iK>ii
pr.i W Mllat booda. lawful niwnpy. for iho pnal>
valar wiirku 7'be Umd. arn to l>o wild
ammliuilon. nf not leu thaiilliionor
OTwasoaaai.S'Al arr Ut run Dot le«i th.n ten nur
mnratkan ihlnrri'.r.. attha oikIod nf the bidder,
clravlnn not .iter.li p<-r rvnl iDlereat, iwrable leinl
annuallr ■< Ihl.omre.
bid. for tbaaa bon<l.. In wbolo or In p*n. In
.. JOWiaaUoaa and rannln« >arh lime, within
Uw nattA aa laa bMMar m.r prefpr. win be recelred
•• thMaflaallll IMdajof KrhniarT. Iiw7. whpn ther
•til ka oaauiS. Tbe rtaht m aocepi or re)«-t anr «'
all of •«& ptopoaltl.m. ■■ reaerrad.
THOU. C. Mcri.lCIJ.AN,
Maror.
MUNICIPAL BONDS.
C. Stanwood a. Co.
121 Devonshire Street.
BOSTON.
LIRTM KBRT VPOH ArPLICATION.
NEW LOANS.
CITYofST.LOUIS,MO.
Notice of Redemption.
matob'8 OrricK, {
ST. iMDis. June titb, ISM. {
To whom it may concern:
Notice Id berebr given that tbe booda of tbe City
of 81. LiOuU, leaned under autborltr of ordlnanca
No. 12.485, namlMred from oinetT-seTen bondred
and ninetr-tbrea (070^) to r.lnety-eWbl bandrad aad
elsbtr-two (SebSI, botb IncluslTe. will lA redeemad
on tbe second dar of Jaiiuarr. elshteen bandrad and
nlnetj-seTen. pursuant to the terms of said ordi-
nance No. 1S.48'>. and the terms expressed In said
twnds, and that said tHinds will oesse to tiear Interest
on said sectiud dnr of Jannarr. I8tl7. Bald trands are
dated Jul)- '.'d. 1H?3. are larable Jolr 2d. 1IK3, and
are retleemable at the opilun of tbe CItr of St. I.ouls
at any time after ten rears from tbelr date.
Baota of aald twnds. when presetted for redemp-
Ion. must bare the thirteen unearned semt-annnal
Interest coupons, numtierad frimi twontT.«lslit i»
fortT. IncluslTe. attached. •
These iKtnds are called In for the purpose of per-
manent retirement.
a P. WALBKIDGK.
: L. 8. : Mayor.
ISAAC H. BTtlBOBOK,
Comptroller.
Attest:
H. J. PococK.
Kesister.
OnTOFPITTSBUiiG.PA.,
4 PER CENT BONDS.
WATER,
PARK,
BRIDGE.
nt K KKO.M inoi TO 1043.
EITIIKK KKtilMTEKKD oa COl'PON.
Price And Putiotilars on AppUcstion.
JAMES CAROTHERS,
sow Fourth Avenue.
I'lTTSBUBO, PA.
C. H. Van Buren&Co.,
BANKKRH AND RRflKKaH,
02 BROADWAY, NEW YORK
8T(X'K8. BONDrt AND HIOn-<lKAUB
INVB8TMBNT 8iCClIHITIHt».
Circular I.elMr. Includlnn list of seleotad Bonda,
Mailed irraa.
Jancaey 2, 18i7.]
THE ( HRONICLK
61
Natlck, Ma'H.— Bond Sale. — Sewpr bonds of this town to
theamount of $17,000 have been sold at 106-13. The securi-
ties will bear ieiterest at the rate of 4 pT ceat. piyable semi
annually in January and July in B wton. They are dated
July 15, lb96, and the principal will miturft July 15, 1926.
The denomiualioa of the bonds ij $1,000.
Newbnrgr, N. Y.—Bond Sale.— It is reported that this city
has sold refundinit bonds to the aoaouot of $147,537 19. The
aecuritiea will bear interest at the rate of 3^ per cent and
mature in 30 years from date of issue.
New Haren, Conn.— Bond Offering. — Proposals will be re-
ceived until U A. U. January 5. 1897, by City Auditor Banj E.
Brown (or the purchase of $350,000 of 4 per cent permanent
pavemeiit hoods. The spouriti(>s will be dated October 1,
1896, and the principal will mature in four equal instalments
on October 1, 1901, 1906, 1911 and 1916.
Bids will aUo be received on the same date for $65,000 of 4
per cent bridge bonds, to be dated October X, 1896, and mature
*8 follows: $25,000 on October 1, 1914; $20,000 on October 1,
1915; $20,000 on October 1, 1916. Interest on both loans will
be payable semi annually at the office of the City Treasurer. A
certi6ed check for 5 per cent of the amount of bonds bid for
must accompany each proposal. These bonds will be coupon
bonds and registered with the Union Trust Company of New
Haven.
Newtown Union Free School DUt No. H(L. I.). N. T.—
Bond Sale. — The following bids were received on Dec. 80.
1896, at the First National Bank, Brooklyn, for $7,000 of
■chool bonds of this district :
Qeoree M. Haba 103-297
L. Morrison 103-34
I. W. Sherrlll 103-17
FanoD. Leaeh A Co 102-84
Benwell & Everitt ir3-3S
Btreet. Wyke« & Co „ 10308
Waltrr Slanion A Co 103-07
reople'a Bavinpii Bknk.Tonken 103-04
BertroD A Btorrt 101-80
Oawe^o Coantr Savloaa Bank, OtweKO 101-38
D. A. UoranACo 103189
The loan was awarded to Oeo. M. Hahn. The bid from D.
A. Moran & Co. was rpjected as being conditional. The secu-
rities will bear interest at the rate of 4!^ per cent and mature
from January 1, 1899 to 1913 inclusive, at the rate of $500
annually.
New York. — Bond Offering. — Proposals will be received at
the oiSce of Comptroller Jamps A. Roberts, at Albany, N. T.,
until January 12th, 1897, at 12 o'clock noon, for the purchase
of $1,000,000 of canal bonds. The securities will ba dated
Jan. 1, 1897, and ths principal will mature Jan. 1, 1918. In-
terest at the rate of 8 per cent will ba payable semi annually
at the Bank of the Manhattan Co. in New York City on Jan,
1 and July 1. Bjth principal and interest will be payable in
gold.
The offieial advertisement of this bond offering will bs found
elsewhere in this Department,
Norwood, Ohio.— Bond Sale.— The $2,000 of 5 per cent side-
walk bonds offered by this village on December 21, 189S, have
been sold to the Western German Bank of Cincinnati, Ohio,
at a premium of 3 per cent and accrued interest. Two other
bids were received, those of the Centreville National Bank and
the Atlas National Bank, which offered 103125 and 100-35 re-
spectively. The securities will be dated Sept. 1, 1898; interest
will be payable semi-annually and the principal will mature
September 1, 1906.
Oinahn, Neb. — Bond Offering. — Proposals will be received
until January 15, 1897, by this city for the purchase of oonds
to the amount of $316,000. The securities will bear interest
at the rate of 4 1>.| per cent, and the principal will mature in
ten years from aate of issue.
Phelps, N. Y.— Bond SdZe.— Water bouds of this munici-
oalitv to the amount of $38,000 have been disposed of at a
premium of $500. The loan will bear interest at the rate of 4
per cent and mature in twenty years from date of issue.
Pleasant Ridge, Ohio— Bond Offering — Proposals will ba
received until 12 o'clook noun, Jiauiry 2J. 1897. by J. B.
Hayden, Village Clerk, for the purchase of $) 9Sri3 of village
bonds, to be'dated December 1, 1996. The deaominatioir of
the securities will be $500, with the exception of one bond,
which will be for the sum of $48l-l'{. They will bn%r iuter'>8t
at the rate of 6 p. c.,and tbeprincioal will mature D'C. 1, 1906,
NEW LOANS.
NOTICE TO HOL.DKR8 Or
WACO, TEX., BONDS.
NoUc* la berebjglTen the boldeni of ibeCltjof
Waco Btreat ImproTement Optional Bonda datad
Jaanarr IStb. 188 . denomination tl.ooo. 8< Intereat
dae tweotr reara aftar data, optional alter tan
rears, that namben 1. X. S, 4 S. S, ;, «. 9. 10 are called
in and will be paid on pretentatlon to tbe Waco
8lat« Bank. Waon, Texas.
Interest will not be paid on tbe abore-deacrlbed
Bonda aftar Jannaiy IHb, ISO \
c. c. Mcculloch.
Xtteat ;- Maror of Waco. Teaaa.
R. W. JABLONOWBKI.
City Becretarr.
Investment Bonds
FOR
New York Savings Banks
and Trustees.
■ilSTS SENT UPON APPLICATION
MEMBKRS OF B08T0N AND NKW TORE
STOCK KZCBANGRS.
R. L. DAY & CO.,
49 Water 8(re«c Baataa.
t Maaaaa 8lra«t, Raw Vark.
NEW LOANS.
Blodget, Merritt & Co.,
BA.NKERS,
16 Concress Street, Boston.
STATE riTT A BAILBOAU BUNUti
MORTGAGE LOANS
IN
TEXAS.
iBiareat » Per Vest Net.
NO GO>Uil88ION8 ohanted borrower or lander
nntt] loans have prorao aood
FHANCIS SniTH dc CO.,
8AR ANTONIO, TBXAS.
NEW YORK CITY
3J7o
GOLD BONDS.
Exempt From Taxation.
.>IATrRI>'G 191S TO 19:17.
rOB SALB BT
Vermilje £ Co., Knhii, Loeb & Co.
Nneaaa dt Pln« l!<la. Naa, 'i7-il9 Pine Ht.
NEW LOANS.
$300,000
OITYOFBRO0KLYN,N.Y.,
4% BONDS.
FREE FROM TAXATION
MATUR'NO FROM IBM TO US2.
Price and Particalars on Application.
BERTRON & STORRS
40 Wall Street, New York.
V7HANN&S0HLESINGER
'.MUNICIPAL
BONDS.
.irWALL 8TKKBT. NBW-YOKK.
... — _!3I - "»»
CITY OF
NEW YORK
3K PER CENT
GOLD BONDS.
DUB NOVBMBBR let, 19I«.
I.NTKHE3T PAYABLK JAN. 1st AND JULY lal.
Executors, Administrators, Guardians and otbera
holflInK truHt funds are autborlsed by an act of tbe
New Turk LeirUlature paased Marcb U, 1888, to In-
Te«it In these bonds.
PHICB AND PABTICnLABS ON APPLICATION
Rudolph Kleybolte & Co.
BANKERtI
CINCINNATI, O.
41 and 43 Wall Street, New Yark.
Chicnso Dratoase 4Mb
Srracuae, N. Y 4a
Le Ror, N. Y. 4a
Dea Moinea, la. (School) titt
IMuakeson, Mleh Sa
Sooch Omaha, Nebraaka Ta
Aahland, Wla. (Uold) 9a
FOR SALE BY
MASON, LEWIS A CO.,
BANKERS.
31 State St.. ITl La Salle St..
BOSTON. CHICAOO.
Mills & Blanchard,
BANKERS.
MUNICIPAL BONDS
BOUOUT AND SOLD.
DeTOnahlra Balldlnc.
16 State Street, Beaton, IHast.
W. N. Coler & Co.,
BAKKERS.
MUNICIPAL BONDS.
34 NASSAU STREET.
63
THK CHRONICLE.
(Vou LXIV.
X.^Bmd «M(.-Om D(««»ber it. >(
B. & PvtaMB ««m4«4 llt.«0 ol n
a««K«i BMk. of Bmd«. m • prrnii..
City
Jaeuftiy 1. I(i88,
■ LIM 1 lililllj l.>M».|4.(C0. Md lb* hBlarrcioJMiuAijr
JaanwT 1
iNtlil.'nMOTMt it i'k* nilV of 4 prfceot -ill »» p»T»>.:..wini-
•• ^^^ ^^- 1 July 1 •! U»» K»ri»»r» N»tioo«l
I wUl b* t«siM«*<l ao4 will be of
I of WOli. •■«#• «M b«Ml. wbioh will ba for
tli*. Tkm kmm b for ib» vwfOM of p*f iog cff r«Ii«f bond*
«Mck tall do* JasMry 1. 1«VT.
Tk» aHy'* boodid U<l«>nd»rM. m« IsolmiiDa ihii utiM.
iilMliw tm im$mm IMIl.tn iM< tto pepttUuoo id 1690
WW t4.W1.
iMniilr M. T.-aoMi AU«.-Thi« towa baa mM |?8,000
of I ill owtbwilnt lit 1 It Hm loan will maiure nart
fwiXr tnm IMt <e IttS iMluaifr.
Ilalllraa foaaty. lui.-Btmd Ofinwo^ Propoaala will be
MrM««d bf ibttrouBly uaiU January 4, IW7, for tba [tuicbaac
af |a,M9 of • p»r wal oea to m>-y«M bocda.
Wa«»,Tas.— AmmI CaU.— NcUoa i*gir«n to boldtn of ttreet
iBprctviDrni b(a<!a cf thh city dated Jan. 15. 1887, and
le eali 10 yeara afler date of iwur. ibat tonda
tr»d I. >. >. 4, 3. 6. 7, 8. and to will be rrdr«m(d on
10 tbe WaM Slata Bask. Internt on three
I vfU OMae oo Jaa. IS. 1697.
n» qgUmt mtt^fiealiom tf Ikit caU teill be found among the
mlmrt(t»mt»lM Wefwkfyw fn lAta Drpartwunt.']
Wat 'oaa.— BoiMf Cytrfnff.— PropraaU will be re<
aattrvu »uM- rrMOMj 8, IflVT, by thw city for tbe purcbasr
«f Sn^MWaf 4par«aM boaoa. Tbe loan will mature in ten
yaM* (kola data a( ha«e.
Wlllea-Barr^. Pa.— SONd KUrtion.—At tbe muoicipal
altciloa )a be b*ld in Frbiuaiy next tbe rlrctcra uf this city
wiai^aridr ibv qaolicB of iccrtatiVK the city d«bt by an
■•aaif bocd«io tbe aoHUOt of ItOO.MO. Should the elrc-
tlnn iti'liori^e tlie iaaue, the luoDty will be uied aa foUowi:
s. . ' '« tbouaand dollars for conatruclion of eewi ra. twenty
fi'l dollara for atreet lmprovt<iiieDta and ten tbouaand'
doiiari for ibe Ore departaieni.
fflae t'oaaty, Va.— Oo/i<l 5a/«.— It ia reporf d that R. A.
Ayeta St Co., of Bi< Scone U ip, have purchased $30 OO'I of C-
prr oent oourt buuae b)od« u( thit county at pir and accrued
intcrFaf.
Worraaler, Haaa.— Bond Sale.— It ia reported that ihii city
haa ditpoaed of tlu*).000of regiatered coupon band« to Blodi{ei,
Merrill & C.<., of Boeton. at 11^-177. Tbe aeouriiiea baar in-
laraat at tbe rate of 4 per cent and mature in 2i)>,' year^ from.
date of i*«ue.
Daalaon, Tex.— Liouis Ijebrecht, Mayor. Below is a atata-
ment uf the floancial condition of this city corrected to Dec.
1, 1899, by meana of a special report to the Curo.niclc from
Will J. SooU, City Secretary. Tbe city ia about to purcbaae for
Utveatmentin the ainkiog fund, S15.000 of acbool bonds of th»
iaaue of 1888, and at the end ot the Bscal year, April 15tb, will
hare retired the floating debt and will have a caab balance in<
every fund. The eorporation o wna property valued at M50,000.
Drnison haa no water debt but paya a hydrant rental of
$2,436-23 per quarter.
This city i» in Orayaon County.
»i '>«0. 1. 1890, $212,000-
LOANS- ""*"' J*"*
FDiioiM) Boxoa 18S4A IHSA—
a«, J4J,»30.000
a*,j4ij, aa.iKK)
BCHu<>l. BoNtM 1888 A 1892-
6a,J&J,ai».000
Sa,JAJ, 32,000
BaWKtt BoNOK 1800 A 1892—
Sa,J*J,«00.000
Sa,JAJ. 25.000
SraiibT iMraov. BoxDS 1892—
6«,JAJ,»25,00O
INTEREST i« payable by the Ninth National Bank of New York Cltj
OPTIONAL.— The funding bonds of 1894 are subjeet to call 1
year* after date.
TAX EXEMPT.— All bonds are free from taxation.
7.000
T' 219,000
SlukkuMluud 31,eS0
Net debt Dec. 1 , 1896. . . . 1 87,350
Tax valuation 1806 j.mhiium>
AMeaament atmut >sar'
Total tax (per $1,000) 1 -
Population In 1800 wa«. ,.;„d
Population In 1880 wae 3.976.
Population In 1806 (eat.). ..15,000
NEW LOANS.
Farson, Leach & Co.
BONOS.
ova J«M AKV l.ff»T .VAILED OX
ArrLICATION.
rvKBiaroNOBiicK solicitbd.
oaicAtio.
114 D«afa«r> Ml.
KBW YORK,
■i Wall tt|.
MUNICIPAL BONDS
CHICAGO.
♦>, 4'»% and 5s
BOVCiHT ASU f»Ot,D.
Ball ParilraUra •■ .taalirailca.
N. W. HARRIS A CO.
U WAU, WVBfBT. «KW VOMk.
10 «UI* IN., Iloalos.
INVESTMENTS
roR
New York Savings Banks
C|«F >< lankrUir. Ma.. a,
it*fmtltnrUm4. UbI. :.: JI
E. H. ROLLINS & SONS,
tB.JIIl,K MTBEBT.
81FE INVESTMENTS.
ak)«o roH Liar
City and County Bonds.
DIETZ. DENISON te FRIQR,
S« f-all«iMa»N HTKRRT. . HOMTOa.
taw » »»»r>»y HirvM. rl*«»la»a. «.
** *-' T* * *** *—»""— l>"»hl ami KM iT^
- ""!■•■ A"M««« ii««^ a,.n^ nfr«kf».
*. P. WlBtrlBfbaa, M Plaa St. N, T
NEW LOANS.
WE OFFER
THX rOLLOWUfO OUT EDGE SICVBITEEB
Rome W. & O^don. Ist M. ug, doe 1983.
Cbir. A nest. Indiana 6ti, die 1921.
Lehigh Vallo) 4>.is, due 1940.
Ubigh A N. ¥. l«t 48, due 194e.
N. V. A Npw Entrland Ist 7s, dne 1905.
Lony Dock 6r. doe IMS.
N. Y. l^rk. & >Vest. l»t 6ii, doe 19S1.
Mtlwankie L. S. * Wist. Tig, dne 19S9
Alio the following g^naranteed Bailway Stocks,
X. Y. iMck. ii W« stern,
loited Kallaay N. J.,
ReaMi>Upr& Saratort,
Put*. MrKeegport & Toii!;lilo$heny.
Pncrtand l*<irllrular> k'umlahcd I'pbll Appllralloii
C. H. WHITE A CO.,
73 BKOADWAY, NEW VORR.
W. J. Hayes & Sons,
BANKBBS,
DEALERS IN MUNICIPAL BONDS,
Uirecl llmllwaj Uoads,aod other bl«li-iir«ile in-
Tssliueiit*.
«OST0a. IIABS.. ClereUDd, Ohio,
7 KiehMir* Placa. 31 1-313 Haaerlar8t.
Co»l« AMnm. "KBNXKnt."
CRIPPLE GREEK, COLO.,
lb
oomrl
<an BthmI ■< |)».<i<». (1.600 bom !•■•.
"in.bmrtotdliilrtol, with bond fnr .1 .
HaldnUnMlD dwin tl ' >
uiiinu oiM. lAira latarsf '
I'uUr aeiraleMd min.
pfvdaiiait ••a.ww-, |.f
1. rint K*i
; 111 "lit
i.r li.ca-
.. ....-1 ,'«>.nK. ha*
II. I'. O. Box 1M».
.. lllllKUlul.
cttiiple Crack Oolo.
OLD BOOKS ?„"rYr.r.*^
MISCELLANEOUS
I860. 18»6.
The United States Life
Insurance Co.
IN THB CITT OF NBW YORK.
Tbis old and reltnble Companf now ban the exper>
lenco or fortr-«n year* of pramlcal Life lusiimnee.
wblcb hai» tauiiht it tbat the tine oua unn of •ncoear
In tba aduptloii (if icao<l plan> of 1n«aniiic«, and tba
pursuit uf a liberal puller towarda bulb lu Insomt
and lia Airanta. TbeaeeBaeniliUali pnxseme* In an
eminent degree, but Judlclouslir i«mpei«d br Uiat
cuoTorratlam which ia the best pu>>iblu safesuartf of
the poliCT-bolder. Ite oontracta aie Incono* * Moio* ot asiUty whioh bu cMMd ir-
•f*r •luce ••rly in DMembar. W« r«f«r to the
that the •tideooe f»Tori the belief that
SMBbcre of the S«n»t» «ho here heretofore been
iadraaieBtAl la ueitinx a teur of war with Spain hare
iMt, ia (ood part, their pover for doing harm. It
kaa Wao atalad »V»» tlM Oaaeron reaolntion it not to
W pukad fartlMT, •plaioa baring to far changed in
tha Saaau that it ooold not pan that body now eren
If M «M bmaght to a Tola. Yat In f^oe of thii belief
H affmn tkat nara ttraaam apaaohae are in proepeot.
Wt lathia, too, that tha animoi of tbiiOuban agiUtion
tea baaaaa farther erident, another of the tiUer Sjna-
Ian hsrlBf en Thanday offered eome more reeolations
m tha rabJMt Tbii time it wa« Mr. Milli of Texas,
a Maabar of the Committee on Foreign RiUtioni.
Hk naalatione differ materially from Mr. 0«meron'i,
tiwekaage probably b log nude to contrarene or get
tlM battar of SeoraUryOlney'e petition. Th4 («09nd
«( tkaaa raeolationa, after atating that the indepaa-
4«aa of tha rapnblio of Unba ought to be and hereby
ia laaogalaed, appropriatee "the mm of 110,000 for
aalai7 and cxpanaee of a miniater to that Oorernment
tHiMavar aooh miniat«r ihall be appoiated by the
PMttdant.'' Mr. UilU'e thought probably is that Con-
graaa hariog «t'.abli«hed an otiioe and provided the
aMsaj to pay the ofBoar, the Preaident is obliged to
illthaoffioa. The Senator in offering hit retoluiioos
prepoaid to tpeak npon them yesterday. Ai the San-
alaaabetqntnily adjourned until Monday the ipeech
had to be deferred. The chief prerogative of Sinitors
ia to make addretaei with the frequency and length on
all tnbjecta that each member m»y desire and wills to
do. 80 long aa that continues to be the rale the pub-
lic will hare to endure the infliction. At the same
tiaM it is onailiog to know that the Silver S^naton
hava (or this aeaaion at leaat worked the Ouban affair
aatil ita poaaible yield ia talk, but nothing elae.
Prominence haa been given thla week to tha situ-
ation of tha print oloth maaufactnrert by the re-
port* poblithtd with reference to some action
•boat to be taken for the purpose of relieving
the market from the burden of the large stocks
of clotba now being carried. We have several times
rtfarrad to this feature at length. The extent of
tha aeoomnlation ia phenomenal and is a direct re-
aalt of the silver agiution. What is of more interest
parhapa ia, that it showt the silver agitation to
have been in large aeaaare reapontible f ir the severe
daellaa in raw ootton dnriog the laat few moatba.
It will ba remembered that we called tha atten-
tion of the Sjuth to this latter feature months
•fO* warning planters that their course in adroci'.ing
fraaailrar vonid depreat prioe and ctuie that section
MaM. Had it not been for the inflaence the
Stalaa laot to the proposal it would never have
gainad any prominence; in that case theoonsumption of
oottoo gooda wojid not hare been arrested in Atnerica,
•ad tha Aasrisan trade with foreign oinntriet would
hafo alto been active and have stimulated
tha oooaomption of ootton in Ujrope too. It
ia aoi of tan that people's errors under the
!•«• of trade are folio red ao qiickly and plainly with
tha raaulting penaltia*. In Saptembsr 1895 the atocks
of print dotha wara merely nominal, less than 200,000
piaeia: now they are 9,198,000 piaoat. Wa see it
reported that a snggeatioo haa been made at Fall River
to run only four daya a week, and at the same lime to
pat a considerable portion of the current atook in the
hands of truateea to hold until 64x64i can be aold at
2| oenta. AnOkher propoaal haa bden to dispose of a
Ivge part of the stock in Europe at any price the
gooda wonid fetch. This latter course has nothing to
raoommend it. It wopld be much like patting the
load on the other shoulder. Such a stock would be a
burden, whether held here or in Liverpool, and if sold
in Europe would depross foreign mirkets as well as
our home markets. There can be no natural way oat
of this difficulty except through a decrease in the pro-
duction of goodt.
The reduction in the dividend on the stook of the
Delaware & Iladton Canal Company from 7 par cent
per annum to 5 per cent cannot be treated the same as
an ordinary dividend reduction. We have passed
through a long term of business depression in which
the revenues of oar transportation ompmies have
been very mnch reduced, mtkiag it neoasiry in miny
caaea to draw upon accamnlated surplus to maintain
the old rate of diitribntion. This has led to some
criticism of this policy in the newspapers, and latterly
it has become qaite the fashion to declaim ai^iiast all
dividends which could not be shown to have been
fully earned in the year against which they were
charged, such dividends being indisorimiaitely termed
"unearned dividends." Riilroil mm takers are of
course sensitive to critioijmi of this nature, and there
is danger that they miy in cona^queace be led in some
instances into action whioh is not wh>lly oojsirvative.
We aiy not conservative, for there m ty be a lack of
conservatism in unwiiely reducing dividands a] well as
in paying then when they are not justified. It all
depends apon the circumstaaoas of tha cue. No in-
telligent parson w)ald for a momant a''gae in favor of
the making of dividends when there wan not a revenue
fund of some kind, pis', or preaaa', ou". of which to
pay them. But if in prosperous years a conpiny
has refrained from giving stockholders the fall
amoant earned, there aeetns no reasoa incon-
sistent with soand businesi p}Iicy why the Burplna
so set aside may not be drawn on to mtk^ up a tem-
porary deficiency in a poor year. Ic should aUo be re-
membered that the failure of a ompiuy to earn ita
nsnal dividend in a twelvemonth of suoH abaormU de-
pression in trade aa the last, argues nothing aa to its
permanent earning capacity.
In the Dalaivare & Iladjon casa we hive no); all the
facta needed to form a definite opiaion. N) figurea
regarding the year'4 results are to ba givai oat in ad-
vance of the publication of the company's annual
statement on January 'i7. Bit if there hai been anr
considerable shortage in the amount needed for the
dividend, it will be the first year that this has hap-
pened ; the year 1895 was not a good one either, bat
according to the annual report fjr that year the com-
pany earned only a small fraotion less than the 7*
p^r cant distributed. Moreover, the property has in
recent periods frequently earned 38 much as 10 percent
while giving shareholders oaly 7 per oen'.. A;ain, the
company has an accamulated surplus of over seven
million dollars, and it h 13 al wiy s baa 1 th s pri ia of the
management that this was a real, taaijib'.esarpluc — uot
a mere fiction. It seems to ba a fact, too, that the
franeral belief has bean that there would ) no hesita-
tion to uae this fund, if necessary, to tide the company
over temporary periods of dipraision, ail thvt iiveit-
JaRUABT 9. lob?, I
THE CHRONICLE.
55
ors havd bougac ihe stock at high prices oa that idaa.
Fttrchermore, the compiny has baea steadily strength-
ening its positioa by retiring its bond isiaes a3 they
matared, and replacing thetn with stock, so that now it
has a funded debt of only 15,000,000, against $35,000,000
of stock. Fi Daily, if current indications can be relied
on, we are on the eve of a greit improreoisnt in basi-
ne83, so that whaterer the results for 1896 thoae for
1897 promise to be mach bitter. Altogether it would
appear that there were strong arguments in favor of
oontinning the old rate of payment, and it remains
for the future to determine whether the action of
the board in making a redaction was not more
radical than the circumstances of the case called
for.
Another noteworthy event this week has baen the
announcement by the Attorney General of Pennsyl
Tania that he has reached " the conolasion, most
reluctantly, that the Oommonwaalth of Pannsylvania
can not now successfully att3iok the chartered rights
of the Reading Company." Tula deoidon is important
as removing the la)t obstacle to the successful carryioi^
out of the plan for the reorgiuizidoa of the old
Reading properties and also as confirming the
opinio'i of learned counsel obtained by the Rsor-
ganization Committee. The legility of this old
charter was of C3urse a matter of cjnsiderable
moment in the reorganization, and as showing
the careful way in which the Riorginizttion Oom-
mittee went ahead, we hear that before deciding to pro
oeed nnder the chirter they coasulte I no less than
twelve high legal authorities, all of whom agreed that
the charter was v^lid. It is well that the question has
been raised and pissed upon at this stage. We are in-
formed by the managers that their plans, which were
interrupted by the proceedings before the Attorney-
General, will now be speedily carried forward, and
that the new secnrities will be issued inside of sixty
days.
It seems likely, too, that the q lestion as to what ac
iion Congress will take regarding the debt of the
Pacific railroads will soon be settled. The funding
bill has been under discussion in the H)use of Rjpre
■entativos this week, and a vote on the bill is to bi^
taken nest Monday. At the same time the announce-
ment comes from Washington that the Republican
Senatorial "steering" committee has decided that
when the Oklahoma Free Homestead bill shall have
been disposed of the Pacific Riilroad refund-
ing bill shall be made the unfinished business
and maintained as such until final action is had.
It looks probable therefore that some kind of a
condnsion will be reached before long, though
just what that conclusion is to be it would be hazird-
ons to predict, since there are so many political factors
involved in the problem. After a vote has been taken
in both houses, it will be possible to form a better idea
of the future of the properties and to decide what
steps to take to place them on their feet.
Returns of railroad earnings for current weeks ap-
pear to be improving. Fjr the fourth wei^k of Decem-
ber our statement covering 57 roads shows 11*06 per
cent gain over the same week in 1895. It is proper to
say, however, that there was only one Sunday in that
week in 1896 against two Sundays in the previous
year. The following is a four-year comparison of
gross and net for Novembdr for a number of roads
that have this week furnished their returns for that
month.
1696.
1S35.
1894.
1893.
ei%mt of Road-
t
»
«
t
Baltimore & Ohio Soathw
.Grou
Net
495.620
111.217
555,274
173-30
528,711
ISI.918
618,334
182,165
Central of New .lerser. ..
.Gross
Nat
i.us.'in
501. ll?
l,«-9.68l
o«',1^4
l.^Sl.bW
39 1.690
1,171,668
479,397
OeoTer k Rio frrinae.. ..
.uross
Net
en(l.7li0
218.4)1
7il|l.6i4
3!3 8?9
nsMH
637,60S
237,970
(Jeoreta
.•4P(is«
Vet
162.3 -7
69.441
Hn,H2
8 ).O03
15-815
77,^33
155,i0t
88,7SS
K%n.Ctt7 Ft. 8cott & Metn.fJross
Vet
38 '.971
123,012
.■< '5.-01
122.463
m,ioi
139,255
4t!i,g3t
141,787
Can. CltT Meoi. & Birm...
.tross
Vet
120,412
4 1, MO
HS.270
4I1.1JI
1110 258
35.821
117,065
41,80S
LoaiaTilleft NaahTille...
.Qposs
Net
l.741,SU
6ll.08'<
l.8-'.5W
731.917
1,705 010
756,012
1,734,118
753,30»
.Gross
Net
S87,«?
2«0.-10t
«08.«to
2J0 iU
6^2,950
29?,561
609 47S
291,070
Mexican International —
.Gross
Net
as5.3»»
107.330
23I,'<I0
85.8 W
7S,2I.')
105.829
81.689
Mexican Xatlonal
.Gross
Nat
471.SIB
239.618
.39!.43J
I86.ms
37 1 .fl70
173,-90
S33.eS0
138.87t
Ri* Grande Western
.Gross
Met
216,2P1
71,187
23\4SS
lt0 9M
181.500
60 439
195,60t
80,078
8t. I.oul« i. San Fran.
.Uross
Nat
52».«29
238,933
5i7 a!>7
242.8)2
fll.HS
2"2.4»S
609,496
209,847
Toledo ft Ohio Central.. .
.Gross
Net
16i,0IO
17.028
179.303
01.131
!•!« 592
65.83S
163,851
48.101
Our foreign exchange market has grown firmer
again. It continued easy on Monday but on the fol-
lowing day and on Wednesday it grew stronger in
response to a good demand. Bankers say that some of
the long sterling which was bought for investment
early in November and which is now maturing has
been exchanged for new bills, thus extending the in-
vestment. The few long bills which are now running
to sight and which are being offered for sale are
promptly absorbed and consequently the market
is but indifferently supplied. One reason for the
re-investment of the proceeds of maturing long
bills and for the extension of the investment for
another period of sixty days or longer probably is that
money is likely to continue low in our market, while
discounts in London will probably rise, and indeed
there has already this week been an advance in the
open market discount rate in London to 3^33^ per cent
from about 2^^ per cent at the beginning of the year.
Moreover the cable reports that a new Russian loan for
600 millions of marks— $150,000,000 — is being nego-
tiated in Paris, and that this loan, if obtained soon
after April, will be the prelude to the resumption of
specie payments by Russia. With this negotiation
pending it is not surprising that the prospects for the
maintenance of comparatively high discounts should be
good. If so, that would naturally encourage continaed
investment in long sterling.
Tae amount of gold and of gold obligations received
at the Sab-Treasury during the week for which legal
tenders were exchanged was $500,000. The net gold
in the Treasury, officially reported from Washington
on Thursday of last week, was $136,746,473, while the
amount so reported to-day was $138,624,814.
There is evidence this week of growing ease in the
money market, resulting from the disbursements of
January dividends and interest, and this is shown in
the easier rates on call and in greiter activity in
the time loan branch of the market and in a broader
market for commercial paper. Money on call, repre-
seating bankers' balances, loaned generally at 2 per
cent until Wednesday, when there were transactions at
I^, at If and at 2 per cent, with the bulk of the business
an the last-named rates. The average for the week
has been at a fraction below 2 per cent. Banks and
trust companies q lote 2 per ceat as the minimum, and
it is reported that the larger binks have agree! to
maintain 2 per oent as the nniform minima ni rate, and
not, nnder any circumstances, to ioiu b^Iow that
figure. Time loans have been mire freely offered
this week, and there is a desire among capitalists,
banks and other inatitutions to pUja cheir funds
for fonr months or for loagjr perio U. Qiotationi
66
THE (HRONlcLE.
[Vou LXIV.
•r* S par wot iOr tiny i»j» to foar aunibi
Md H per OMit tor tra to tii moothi oa food miiad
To*r« i* « brooder m&rkat
•ad a fttir omoaat U otttriag,
iioft (roa tho Kut, ood foar moalht' mill
•t H par OMt. Th« d«mond ia qaite
: tiM bMki oad oUttr bajora, ood r«tei
H« Si#4 par OMt for ■ixty to ninotr day oodorMd
MIk rwoifsUo. 4«4i for firtt cImi ood 4i9&i 'or
gMd few to alx MHilht' (ingle n o a w
TW Boak of Kofload minimua rate of diaooaat re
I maehoaftd «t 4 per oenu The ooble reports dia
I of aixty to olaoty day book bilU in Loadoa H
9t( par oaalf on ndroooe froot i 1516 on Sttarday ;
tko opaa aarkat rata at Pari* ia 8 par oant, at Bsriin it
la 9^ par oaet and at Frankfort 8| per oent. Aooording
ta aar ^paainl floMa from liondon the B*ok of England
gaiaad JMt^ltS ballioo daring the week and held
Xl4.Ut^0n at tlM eloaa of the weak. Oar oorreapon-
dMt ffthar adviaea oa that the gain wm due to the
aspart of £tA,000 to the Argentine Uspablic, to re
eatpu from the interior of Oraat Britain of £341,000
aat and importa of £33,000, of which £^2,000 were
froa Poftagal and £11,000 other Oontineatal.
Pw a lg a oiahaaga, aa already atated, haa been firmer
aad hifbar tkia weak. The range for nominal rates on
Monday waa 4 84 to 4 84^ f or aizty day and 4 87 to
i ni for eight. Ratea for actual bnaineaa were un-
ehaagad, oompared with the cloee on Thuraday of last
for long and abort aterling, while cable traoafera
I oaa-qaartar of a oent lower at 4 86}^4 87. The
waa vaak early in the day for abort aterling at
wall aa for oabtaa, bat later the former reacted. On
the following day nominal ratea remained anchanged.
Tbera waa no change in ihoee for aotual bnaineu for
loag Btarling, bat abort aterling and cable traoafera
waro oBO-qoartar of a oent higher at 4 86i<94 86} for
the foraar aad 4 87^4 87^ for the latter. Oa Wedaea-
4ay Brown Rroa. and Heidelbioh, Ickelheimer & Oo.
•inaoed their poeted figurea half a cent, making the
rang* for nominal ratea 4 8(i to 4 85 for sixty day
aad 4 87i to 4 8S for eight. R ttea for actnil batiaess
•••• adranoed one quarter of a cent all around to
« M#4 84i for long, 4 86134 87 for abort and 4 87i@
4 tti Car oabia transfers. Oa Thuraday Brown Bros.
••'■■••* »h« ahort rate, while Ltxird Freres moved
both loag and abort upward half a cent, but these
ahaagM ■•do no alteration in the range, which stood
••••♦kapiaTioaaday. RUea for aotual buiineaa ia
loag atarling ramaiaed uoohaoged, while those for
i alarliag and cable traoafera were one quarter of a
at 4 8794 87J for the former and 4 87JO
T&e market ulosod (loaUy ou Friday at 4 84^(^4 85 for
uxty>day and 4 87^94 88 for eight. Rttea for actaal
soaineaa were 4 84^4 84^ for long, 4 87(^4 87i for
• ^ort and 4 87^34 87} for cable traaafera; prime oom-
maroial 4 83^34 83i and docnmenUry 4 82^04 83^.
The following atatoment girea the week'a morementa
it money to and from the interior by the Nuw York
banka.
Wm* aik«<i« /Mk *, laiT.
Turn —14 —a i«<r*i t— d>r»...
b» (NMvp«tf»»
M. r. amtil If. T. Bmk*.
(7,704.000
l,tS1.000
ss.oM.oob
(3.484.000
883,000
n.817,000
att Inurim
Oal>.(4.380,000
Omo. SM,00e
iMkaB,i7e,oeo
With the Sub-Treasary operatioaa the reiult is aa
foUowa.
Jam. «. I8»7.
Osaka' laiarler aeT»a«Bt.M abarr*
Hta-Tnamr avaraMoa*
lata
(8.090,000
ID. 700.000
Oat or
(3.817.000 oata isiirTooe
18.800,000 Oatn. 3,400,000
TataliaXaadlaealtaaaata .... (!W.a9«,000 (17,117.000 Oa>«. (8,879.000
Amonnt of bullion in principal Bnropean banks.
f
4aaC-Haiir'7
■aaln
■atkarlacd* .
^•t.aal(taa.
r 4aaia waa*
/aa. 7, U»7.
.taa. 9. IW«.
auair.
Total.
a I a a
«4.51«,0M 84.518.an
7a.tS>.tllO 4»,Mt,7P7 1«&.S19.1II|7
M 811,700 I3.<07,a«0 40.MP.0M
80,814,000
S,S«,000
18l,734.oi»
ll,t74,000
lO.ULOOO
«,8M,000
l,*4«,8Sa
t*.7l«000
u.oao.'wo
8,400,000
40«T.000
n,aa«,«!M,<7t,oos.s89
I88.t87.408 »i.aBO.I»0 877.m8 «B'<
oxa.
a
4S,S'<l.>lll
77,373.870
W.114.1W
*«,IOW.UOO
8,004.000
8,8l7.i)0<'
8,756.333
l»0,707.20<
HM.|-0A'!1
<S.S33.7Z3
14.810.814
l8.a8o.aou
10,100,<>o<'
8,831.00
1,877,01)7
7a>aJ.
8
45.SS1811
lt6.;0d,»89
48,4S7,00a
i7.o«e,ooo
U,101,008
tOJ«8,808
4.138,000
M.ail! 800 886 34U.404
M.nw.llol 184 .886,718
SOME REFLECTIONS SDOOESTED BY THB
FAILURES OF 1896.
The least interfsting work we haTe to do is reviewing
the year's failures in a year when all bnsinesa has been
greatly depreased. Under such cironmstancei it can-
not be a cheerful work and no encouraging inference
can be drawn from the tablea. We say this is the case
4 871 for the latter, and the market oloaed dull but
•rm. Yeatarday than waa no change in either actual
or aoaiaal qaeUtioos, the market oloaiag ateady. Toe
tiHavtag ubie shows the daily poeted ratea for exchange
ky aaaa of tba leading drawen.
M tvmnm aara* roa toanea uoaAaea.
*— a*aa....|i *«Ma -
taoiui
t
{Jjjva
I
.a
■
s
a
/'i'l
r;
• »»•
'■ '»
iSTfc
••41a
Zti
M
•a
Tamt.
/an. 7.
87H4
»«
•4te
•7W
8*
•8
•»
•a
8«4
»7l«
in a year when business has been greatly depressed; in
a year of industrial activity and rising prices such a
review may of course become an exhilarating occupa-
tion. Insolvents are bred ia favorable basmess sur-
roundings, but they are not disclosed. It ia a truism
to say that adversity is a weeding process and trial is a
testof the strength and soundness of business methods:
until the trial comes the weakest and the strongest may
alike continue to exist togetber. Hence one may study
with some pleasure the results of a good year, for one
finda few disasters and therefore only added proof of
the prosperity the b-»dy of traders is enjoying.
All any one can suggest to soften or tone down the
unfavorable inference the figures for 1896 leave is that
a bid record of this kind does not always presage but
it always precedes recovery. L-quidation is often
a natural incident in the process of convalescence. Aa
it is apt to be darkest just b fore dawn, so the largest
total of failurea and liabilities not infrequently fore-
shadows a new term of prosperity. There have been
only five years daring the last forty, that ia begining
with 1857, when the liabilities have boeo larger than
they have been in 1896. It will be of interest perhaps
to observe the figures at thoi> periods, and we conae-
quently preaent thpfn.
Kaii.ii««(i.
Faildrm, .
Awu-unlof
J mount of
r«er.
Kumhtr. liabiUtia.
Tear.
Kamber. Habilitlet.
1800...
.... l.%,088 (326,00<l.884
1878...
■ ■■ 10,478 $234,383,132
1803...
.... 13.342 340,779,880
1873...
- - 5,183 228,499,900
1894 .
...10.008 aa«.343,42T
1857...
... 4.932 291.750,000
Jantjart 9, 1897.]
THE CHRONICLE.
67
Of coarse aa to tbe number of failures there has been
only one year (1893) when the namb3r wis larger than
In 1896. That, though, is not a point in the foregoing
of much significance. The number of traders included
must be always increasing as population increases, and
hence the number of disasters might be much larger
and yet not represent any larger percentage of the
whole. Besides that, the work of gathering the returns
li far more thoroughly done now than it used to be. We
might almost say that the machinery improves in ef
ficiency every succeeding year. Remembering this and
rememberiag also that the lack of completeness, so far
as it existed at any time, woald always be in overlook-
ing the vast number of small traders dropping out of
the ranks, we see that the variation in number ot dis-
asters given is not of itself especially important.
Studying the liabilities it will be noted that the earl
lest of the six yeira included in the abive was long
ago in 1857, and that the totil liabilities was at that
date the largest of any in R. G. Daa&Oompiny's com
pilations except in 1^)93. What did they foreshadow
at that time? Starting with the following year (1858)
we &nd that in that year a cycle of small failures and
of prosperity began which was only temporarily inter-
rupted during 1861 by the breaking out of the war
with the South; in 1862 thes? favorable tendencies re-
acted again and continued with moderate variations
until the crisis of 1873. Passing, for the tima being,
the 1873 crisis, we reach next 1878, which year, as all
oar readers remember, m irked the end of the liqutda
tioa that began in 1873. Hera agiin the conditions
that followed were very similar to thoao which arose in
1858 and prevailed in subsequent years. That is to
say, in 1879 as in 1858 a term of decided prosperity and
very limited failures began, which continned antil
the last half of 1883; then there was a temporary set
back followed by renewed prosperity, bat of a more
fitful character, and by moderately large failures until
1893, when the present depression assumed its more
serious phase.
We do not propose to speak here at any length in
explanation of the nature of these crises and of the
Inferences to be drawn therefrom. To understand the
lesson they inculcate it would be neoesjtry to review
the facts which made 1373 and the liquidation that
followed (lasting until 1879) exceptional; it would
likewise be needful to inqaire into the reisons why the
buoyancy which began in 1879 and was checked in
1883 and 1884 was never thereafter wholly regained,
and why the failures, that wera large in 1883 and
continued to be so conspicuous a feature in 1884, have
never returned to their normal proportions but have
been large to the present day, the destructive work of
the disorder brealcing out with re enforced virulence
in 1893. If examined critically, the conditions ruling
in and following 1857 and 1878 will be found to have
points of marked simiUritv, and again those of 1873 and
1893 will be seen also to have features common to both.
Note also that the crisis which culminated ia 1873 was
a currency derangement and was only cured by the
establiihment of gold payments January 1 1879. Time
will likewise prove that only through a like method —
the removal of the unsoundness left in our currency
system in 1879 and the reinstatement of monetary
affairs upon a gold standard pure and simple — can the
country be given complete rest from the influences
at work, which developed first the crisis in 1883 and
1884, produced another set bick in 1887 and again
caused the break-np in 1893, from which we are still
suffering so severely. Until our legislators have placed
the country beyond the power a mere rumor that a
dicker with silver is in progress now has to eend a
chill through the entire industrial organization — until
our legislators have done that, the country can never
again enjoy full prosperity. Whatever of business
activity comes before that is secured must be made up
of short cycles, fitful in character.
Another interesting feature of Dun's statement of
failures and a very obvious peculiarity ia the increase
in nomber and liabilities the last half of 1896, al-
though the results during the first half of the year
were large and although there was no panic anywhere.
This feature also further illustrates the na'nre of the
business dislocation and the nature of the industrial
situation. Mr. Depew said in an interview last week
that the country was never before so nearly on a cash
basis. That statement is particularly true of the East-
ern and Middle States and in considerable measure is
true also of the other sections of the country. Comp-
troller Fitch of New York City is reported to have
stated that receipts for taxes the last three months of
1896 were larger than they had ever before been in the
same three months within the history of the city.
The point we wish to enforce is that the long depres-
sion and ever present possibility of a catastrophe
(through a change in our currency basis) has led to
the payment of obligations and to a curtailment in
operations until business houses have out very few
notes ; furthermore, that there is an abundance of idle
capital, but that the people would rather get their
affairs into snug shape, keep a large balance, than to
put the money out of sight. Mercantile failures have
occurred consequently not at all because business was
extended, but they are rather evidence of an opposite
condition, the existence of a kind of dry rot which a
cessation in business operations has produced and is
developing. Not only the weak, the financially un-
sound, but those who have always conducted their
affairs conservatively, are subject to infection now.
That this state of affairs should have produced a
Urge crop of disasters during the period since the first
of July is likewise reasonable. As we said a week ago,
a sudden decided check to industrial operations, such
as happened at about the opening of the current fiscal
year following months and in fact years of contracted
business, and followed by four months of a stoppage
seldom if ever equaled in completeness and severity for
that length of tim"), must have proved a very trying
test of endurance to all traders. The^soncern that has
only a limited supply of quick assets, the rest being
inconvertible, could not of course stand against the
strain such conditions produce. Nor could many
others, who were conducting business in sections
where little or no relief has followed the election, or
where there has been the added embarrassment of
banks failing and looking up balances small and large.
It is no surprise then to find an unusual number of
failures with a corresponding aggregate of liabilities a
continuing feature of the last six months of 1896. That
is just what should be expected. The disasters do not
prove at all widespread insolvency ; they are simply a
record of the results of the extreme depression the dis-
credit that has prevailed has produced, and again point
us to the cause of this discredit and therefore to the
relief now demanded. ■
We subjoin the following exhibit. It is made up <
from R. G. Dun & Company's compilations and giveir
the figures of failures, both number and liabilities, -'
68
THE CHRONICLE.
[Vol. LXIV.
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JJMniKO TBE CONSTRUCTION OF NLW
ROADS.
Tb* Bute BmH of Rtilixwd OommiMionen hu tbii
ik ■abmitud iU annaal report to the LfgiiUturf,
in it the Board reoewi iu recommendation of the
prwioM ;«ar tiktog that Section 59 of the Builroad
Law be amended ao a* to widen aomewhat the Bjard's
ia OMM where application is made to it for
to baild new roadt. The proposition will
parh*|» Bttraet nor* attention tlian the similar recom-
■•edation of Uat je*r becaaaa the Oommission h«a
Jut been orermlad by the Appellate Division of the
Bopftae Coart in a oaae where it had refused to oer
ftifj to tb* DfoeMity for the oonatraction of a new road,
W* tbifik the decision in the case referred to far.
Bisbts BO valid argoment against the section of the
Uw vestirg the Board with power to prevent the con-
■trnotion of nnneoeaaary new road or against the wis-
!*■ BBd propriety of the amendment to that section
pfwpoaed bf the Commission. On the contrary, the
fael that there ia a proviso in th* law giving to the
eearls aalhoriiy to review the acts of the Board in that
particnlsr, ibcws that tha statnte in question was con.
«aivc4 ia b bf cad spirit, aod that tbare is little danger of
asy ialciest scffrrirg barm throagh its workings. Ii
kat been vrgtd against the law that the right to
•ay whether a road shonld or
b* boilt is a treDandons power
Ika bands of a board of three
so It is, bat in the etaus* permitting an appeal to
a PivisioD of the Boprcme Court safeguards have barn
provided against arbitrary or ill-advised action. Some
bava tboogbt that this clause might in practica prove
a d(sd letter, the theory btiog that tha coarta would
k* disiBcliBid to ravers* tk* decision of a body sup-
p*Nd toposMSS sptcial qualifications for discriminatiug
kst«**a BCMBsary aad BBDCocstary projaota. Expcri-
should not
to put in
men. And
ai<o* oeruinly haa shown that the coaru in such case*
will act with great circumspection, but it has also
shown, aa evidenced by the present case, that they will
not heaiute to exercise their independent judgment
when they think the occasion calls for it.
The merits of the application in this instance aro
not entirely clear. There are some exceptional fea-
tares about it, leaving considerable room fordiffur*
encea of opinion. Uoder the circumjUnces it is not
ao very surprisiag that the Court should not havo
taken quite the same view of the matter as the 0<>m-
Bsission. The road is not an important one in any
aensa of the Word. It is known as the Long L ike K dl-
road, and it propoaes to build a road from Axtoa, Frank*
lin County, in the Adirondack forest, southerly about
10 miles to Long Lake. The application was op-
posed by the New York Central and by certain
parties seeking to protect the State forest preserve,
though not by the Forest Preserve Commission. Tnero
was some question whether the policy of the State in
aiming to preserve the Adirondack forests culled for
the exclucion of the road; also whether the line would
have 'o cross lands owned by the Scate; and further-
more, there was some question whether the promoters
were acting in all respects in entire good faith. It waa
claimed in favor of the project that land ownera
would donate the right of way, but it waa
proved that this did not mean much since
these owners consisted merely of a lumber company
and of two private individuals. An oataider fi:ets tho
impression that there was more or less conflict aa to
some of the facts, with the evidence not ab olutely
conclusive on either side. The Commissioners, how-
ever, failed to convince the Court, or rather a
mtijority of the Judges sitting to hear the
case, that the Board's refusal to issue a certificate
was based on adequate grounds, and hence the appeal
was decided in favor of the appellants. We say the
majority of the Court, because out of fire judges who
heard the appeal three, namely Justices Parker, Laodon
and Putnam, voted in favor of reversil, while two-
(Jastices H rrick and Merwin) voted in favor of sus-
taining the Commissioners, and filed a dissenting
opinion. The fact that the Court iiself was divided
demonstrates that the merits of the case are not easy
to determine.
One result we may expect will follow from the do*
oiaion. The Commiaiionera will see the necessity not
only of being convinced in their own minds of the
soundness of their position but of presentiag their
reasons, when refusing an application, with sufficient
strength and force to convince the jadicial mind. At
this late day it is unnecessary of course to argne in
favor of the wisdom of a restraining provision against
the construction of unnecessary new mileage. Tho
experience of the last fifteen years has made the pro-
priety of such restraint obvious to every one. The only
point worth discussing at all is whether the existing
provision of law on that point in this State is satis-
factory.
On the whole it must be said that the law haa
worked well. As far as our observations have ex-
tend* d the Commissioners have not acted arbitrarily
in considering propositions for new roads or abused the
discretion lodged in them. They have barred oat a-
number of objectionable schemes, and in that have
aooomplished the purpose of the law. On the other
hand they have issued the necessary certificate of
authorisation In variona other cases where ther*
Jamuabt fl, 1887.1
THR CHRONICLK
59
appeared good groands for doing lo. In both
instanoei, it leemi to ui they hare carried oat
the spirit and intent of the law. The Long
Lake Bailroad ii not the only project where an
appeal waa taken from the deciaion of the Board, bat
we beliere it ii the fint initance where the raling of
the Oommisiion has been rerersed. In the case of the
Amsterdam Johnstown \ QlorercTille road, where a cer-
tificate was refused, the Board was on appeal sustained.
The law, too, seems to hare been wisely framed. It
proTides that before a new road can be built the Com-
missioners most certify that public conrenience and
necesjity require its construction. If the certificate
is refused then the application may be renewed after
the lapse of a year. Or, as wa hare seen, an appeal
may be taken to a General Term of the Supreme Ooart
of the department within which said road is proposed
in whole or in part to be constructed, and said General
Term (under the new Constitution the name of the
tribunal is the Appellate Dirision of the Supreme
Court) has the power in its discretion to order the
Commissioners, for reasons stated, to Issue the re-
<iuired certificate of authorization.
The law has been on the statute books only since
1892 and it did not at first apply to street railways, but
In 1895 it was amended to include these as well as the
steam roads. The farther amendment which the Com-
mission new suggests is that in the case of the street
surface roads the Board shall hare power " to certify
to the whole or a part of the route proposed by a new
corporation, or to compel an existing corporation to
build such additional lines as are deemed to be re-
quired by public conrenienee and necessity." We sup-
pose that the reference here to compelling existing roads
to baild additional lines means that the option shall
be offered them to build such lines as an alternatire to
giring the authority to another company asking per-
mission to build a whole system of new lines. With no
right reserved to the State under the general law or by
the charters of the roads, it may well be questioned
whether the old companies conld be " compelled " to
build additional lines. Hence, except on the sapposi-
tion mentioned, the amendment proposed would seem
to be open to objection. Nothing can be said against
the first part of the proposal, namely the suggestioa
that the Commissioners be allowed to decide whether
it might not be wise to permit a part of a projected
new route to be built where there appeared to be
no justification for allowing the whole to be con-
structed. We can see that oftentimes public interests
might be promoted throagh the possession of such a
right on the part of the Commiuioners.
GREATER NEW YORK.
Last Saturday, the 2d of January, a very important
aeries of public hearings was begun at the New York
City n^ll. The charter committee of the Greater New
York Commission, consisting of Messrs. William C.
DeWitt, John P. Dillon, Thomas P. Gilroy. Seth Low,
George M. Finney, Jr., and Benjamin P. Tracy, form-
ally submitted to the full commission their draft of the
proposed new charter, and a programme for public
dlscassion of the varioas chapters in the new charter
<VH laid down, to eontinue daily until next Suurday.
The origin of the plan for a Greiter New York, and
'•f the commission whose report is now before the pub
lie, la familiar to our readers. The proj(>ct of uniting
Into one great municipality New York City, Brooklyn,
Staten Island and other districts north of New
York and east and northeast of Brooklyn, has been
urged for many years, chiefly by Mr. Andrew H.
Green. The plan was approved by various local organ-
izations and commercial bodies, and by legislative act
of 1890 a commission was appointed to inquire into the
expediency of such consolidation. In 1893 this com-
mission reported, advising submission of the question
to public vote in the several municipalities and towns
concerned. After a year's delay such public vote waa
ordered by the legislature, and was made a separate
issue in the elections of November 1894.
The result of this public vote was somewhat curi«
ous. A very large percentage of the voters did not
express their judgment either way. Taking the ballots
as actually polled, however, all the municipalities
concerned, with the exception of two smaller towns,
voted in favor of oonaolidation. New York City was
expected to auatain the plan. It did so by a vote of
96,938 to 59,959. In Brooklyn there had been vigor-
ous opposition, largely based apon local pride. Kin ga
County nevertheless cast 64,744 ballots for consolida*
tion, 64,467 against it, thus approving by a oloaa
majority. Taking the whole vote oast in all localitiea
whose judgment was invited the majority in favor of
consolidation was 43,734 out of a total poll of 310,*
353. This vote, under the legislative act, was not final
on the qaestion; it had, however, the effect of settling
the judgment of the lawmakers. In Jannary of
la8tyear(I896) abill was introduced at Albany arranging
for a commission to make the necessary preliminary
provisions, and extending the term of the present
municipal officers until 1897, when the election under
the Greater New York charter should take place. Tha
bill waa pasaed. Under provisions of the new Stat*
Constitntion it waa aubmitted for approval or diaap-
proval to the mayora of the municipalitiea concerned.
It waa vetoed by the mayora of New York and Brook*
lyn but approved by the Mayor of Long laland City,
and waa thereupon passed over the vetoes by a vote of
34 to 14 in the Senate and 78 to 69 in the Assembly.
The act became a law by Gov. Morton's signature on
May 11; the commission was filled out by appointment
as provided, and the charter this week formally sub-
mitted represents the outcome of their labors.
This brief review of the history of the movement
will serve to show what the actual present situation is.
The consolidation act can hardly be described as the
fruit of an overwhelming public demand. As we
have seen, the Legislature itself was slow in acting on
the bill and displayed no special interest in the matter.
The popular vote of 1894 was small in the aggregate,
and, except in Brooklyn, was probably affected by the
familiar principle that the voter will as a rule support
a formal proposition to which he has given no great
thought. The two veto messages of the mayors and
such adverse judgment ai was elsewhere expressed last
spring were based on a very obvious objection — the
fact that the bill committed municipilitiei to a radical
change in government before it could possibly be
known what the nature of the new government should
be. Although, therefore, the bill is now a liw, these
facts lend particular interest to the scheme of govern-
ment actually proposed. We shall undertake to sum
up briefly the chief provisions as they at present stand.
The most striking feature of the charter as sub-
mitted is its provision for a city legislature. The
somewhat shadowy powers enjoyed by the present New
York Board of Aldermen are transferred, with a much
XHK GHBONICLE.
fVoL. Lxiy-
torgw ««p«. to » ''••■ieip«l MMOiblj.' Thii bolr.
liteMrSuu Md P«Um1 UfUluarw.ii toonum
Ive hmmt. U U* durtar m orlfiaalty aabtniUoJ
) «M to Uitowrhn— with » ia*mb«nhip of 104,
by MMtdtUI dUtricU. auiI ai appar houM
•C ST. ■Uolrl fraa U«||*r r»OKr»phie«l dirUisai dftiig
' kf tto wUrinn On Taaraaay of tho preMat
■ Lifiwil, tk> 0O«mittM alttr-il thU proriiioo,
Ik* ttipaU td mtailwnhip to 60 in the lover
•ad t* ia UN npper— » toul of 89 ; the lover
to b» Aitn. not from Mnktorikl bat from
lUj dUtototo. The mnoioiptl Miembly. in
to mUUbc nldnrmMto fanotioof, ii en
with gwnrtl peaan in the ojoetrnotion of
teMfw. ttiMto, Mvwt, Bod other publio work*. Its
Mlkofily la tb«» diraetioni it, hoverer, to be neither
^f f | |to»l Mr flaal. la all moh pablio works, it U pro-
vbifd that tiie Baard of Pablio ImproromenU thftll
tok* tha iaitiatifa, and that the maaicipkl aiMmblj'a
I ohall laquire, before it paeeae into formtl orJin-
■rrenoo of the B}trd of Kitimate and
It. Finallj, in thie aohetne of manicipil
UgUlatart, all of the mem ben of both hoatej are
aUotod for t«t> yut, and all retire at onoe.
It will be aeen that there ii muoh of noreltf in this
gaaral plao, and eooM proTiiions which in their waj
•raataiUing. The nnmbar of lagiilators in tbii double
rityeeaadl— Ulaeat firat proposed, and 89 nnder
thUawk'srensadarraagaiaent— »iU probably surprise
ftfoad many laierUan obMrrers. Biropsai citiz^ni,
* kowaver, wonld t«k« thU feature as a matter of course.
Mr. Albart Shaw has lately painted out, in bis com-
piabaasi** books npin the subject, that the London
Ooantj Conncil ontains 138 members, the Vienna
Ooaaoil 1S8, the Berlin Conncil 126, the ^orerniDg
badiotaf Paris and Manchester 80 and 104 respec
tHaly, while nearly ail the (ierman and Brllish cities
■ of the second rank are ^orerned by councils of 40 or
more. In moit of these foreign mnnicipilities the
raalu of snob large membership hare been favorable,
. okUSy because of the thorough oimmittee work made
lk«aby poaiible. The question has been pertinently
laUfd, howeTer, whether the multiplication of otTices
udar New York's peculiar political cinditioas would
BOt defeat the very purpose of the charter.
The division of the Assembly into two housts is,
Wwaror, a rather startling innovation in city go7<irn-
■•at, aod the prorisioa for election and retirement o'
ibaaatiroaanibership at once has already become a
ie( oantroTtrsy. In their own report, the charter
laittea defend the donbh chamber proposition as a
oa hasty legislation, and a plan which " will at
. to every ordinance the most extentiTe scrutiny
■ad dUeaasioo, both from the membership and from
Iba pablU press." Mr. Dirman B. Eitoo, at the
aoaadaioa'a baaring of last Wednesday, took very
porftiv* greaad against the plan, instancing the fact
that a ■imilar axperiment with two homes had failed
OBtirsly ia the District of Oolnmbia, and had been re-
Jodlad, aftar tboroogh study of the matter, by Lm-
do« aad athar Baropeaa cities. The most reasonable
a^footiaa odvaacad against the plan wai the argument
a doable Ugislature divides rosponsibilUy, and
oltoH o B by small districts gives free soop'i to what
Now York already kiows familiarly ai " war! politics."
Of the pUa f>>r rotiremont of the whole manicipil
aMoably at ooop, tho oomaittee itself speaks in only
negativo oado w oiOttt. It is their theory that unless
tho ohartor opooo th* poosibility of changing the poli-
tical complexion of the entire body at one stroke, the
party normally dominant in New York Oitj politics
would alwitys retain a considerable majority. This is
one out of several initaacds where tho pssuliar reoord
and situation of Naw York have disposed the oom-
miitee to look closer to safegnards than to theoretical
opportunities. It is worth while to keep in mind,
however, that both in Loudon and in Piris, all the
members of the munioiptl goTernment retire at once.
The charter as drafced by the Greater New York
Committee follows a precedent now well established by
American experience, though by no moans equally wall
reoognisad abroad, ia csnferring very large powers and
responsibility npoa the Mayor. lie is to appoint all
tho adaiinUtrative ofSoera excepting the Oomptroller;
ho may remove during the first six months of his ad-
ministration any such officer. This pswer ia absolute,
during the rem iiader of his term the removal pover
continues, though in mire restricted form, and subjact
to the approval of the Governor. Ilig veto pjwar is at
the sime time enlarged; the committee in fact describes
the officer clothed with this very wide authority as
"a dignitarysecond only in importance to the Governor
of the State or the President of the United States.
Naturally, the commission's plan largely ooncarns
itself with the departments of administration. Too
present Dipartment of Pablio Works ia to be super-
seded by a general Board of Public Improyements,
made up of six distlDCt departments — Water Supply;
Highways; Street-Cleaning; Sewers; Public Baildings,
L'ghting and Supplies; and Bridges. A single com-
missioner is to preside independently over each depart-
ment. All theso commissioners ara to be appointed.
The work of the fire department, of pirks, charities,
corrections, edncstion, law^ civil service and municipal
statistics is to be similarly distributed, the Mayor hav-
ing in these departments also the appointiag power.
The Comptroller, on the other hand, as the financial
agent of the people, is to be chosen every four years on
a popular vote. For local improvements the provi-
sions are interesting. The Greater New York is to
be divided into fire boroughs, fairly representing mu-
nicipal divisions as they now exist. Eich borough is
to elect its president, under whose general authority
public improvements are to be first considered) with
the co-operation, in the case of each proposed improve-
ment, of the municipal assemblymen from the senato-
rial district or districts which the projected publio
work would immediately affect. There are twenty-two
such districts in the area covered by the proposed
Greater New York ; the scheme therefore proposes
twenty-two local boards of public works, from whom,
in a given case, any approved und.rtaking will be sub-
mitted to tho central board of public improvements
as appointed by the Miyor. Approved by them, tho
project goes to the municipal assembly.
The final and in some respects the most important
feature of the Greater Now York committee's charter
aCfects the police department. Oo this point there'is
certain to be a struggle. Tho report frankly confesses
a difference of opinion in the committee as between a
single police commissioner and a board of commission-
ers. The plan of such a board — "bi-partisan " in its
membership nnder the requirementa of the State Con-
stitution — is the system now in use ; the majoYity^of
the charter committee has favored its continuance. In
Monday's public hearing on the police department
dauses of the charter, three of the present police com-
missioners mode emphatic protest against this provi-
January 9, 18»T.]
THE CHKONICLE.
61
aion. All of them favored a single head to the depart-
ment, with individual responsibility, and they have
been supported by a very considerable body of intelli-
gent opinion, by the expert judgment of our chiefs of
police, and by the example of the most successful
police organizations of European cities.
This necessarily brief review will serve to show the
nature of the problems to be settled by the full com-
mission. We have made no attempt, at the present
time, to do anything more than summarize the plan as
now officially submitted ; subject, of course, to later al-
teration and amendment. That full opportunity should
be provided for such alterations is a prime necessity ;
the resolution of the Chamber of Oommerce Thursday
afternooH, calling for more complete consideration of
the charter, was therefore very timely. Whether the
referendum plan would prove to be of any special value
ia perhaps more doubtful. But no more serious mis-
take could possibly be made than to assume that the
matter ia virtually concluded with the charter commit-
tee's report. We have already noticed that the com-
mittee was not unanimous in all its propositions — the
police department chapter is a notable instance. The
commissioners have, moreover, by their change this
week in the provisions for the municipal assembly,
ahown that they do not themselves regard their plan
as final. It is possible that changes much more
radical than these will be so urged aa to appeal
to the good judgment of the commission and the
Legislature.
Apparently, the city is at present only at the open-
ing of the discussion. It has been very generally
admitted by students of contemporary politica that
city government is peculiarly the field where this gen.
eration is breaking new ground and fixing precedents
for the future. Ia many parts of the United S'^ates,
particularly, our cities have expanded to enormous size
under systems of local government hardly more than
suited to a township. The importance of a proper
settlement of the problem at New York, not for the
interests of that community alone, bat for those of the
entire nation, ia therefore obvious. It is true, the
legislation under wbich this charter has been drciwn
up and submitted ia in many respects anomalous and
peouliar. It has, however, created a practical situa-
tion whose outcome, for good or ill, c^n hardly fail to
be of very great importauce. The details of the plan
deaarve the careful and continuoua attention of all
public spirited citiiena.
CLEARINGS AND SPECULATION IN 1896.
Like other records of trade movements, bank clear-
ings for 1806 make an unfavorable comparison with
the year preceding. At the same time, the falling off,
though large in amount (we are dealing of course with
figures of great magnitude) is proportionately quite
small. In the country at large the decrease is only
4'00 per cent. At New York the decrease is even less
than this, or but 3 '3 per cent, while outside of thii
centre the shrinkage is not quite five percent, the exact
figure being 4*8 per cent. Of course such small ratios
of decline do not indicate the extent of the depreision
in trade or the degree of suffering which mercantile
claasea experienced daring the twelve months.
Bank clearinga are never a parfect guide to trade
results or the course of buainess. This follows
from the fact that the exchanges of the banks neces-
sarily represent to au extent past transactions. A
check passing to-day may be in completion of a trans-
actioa initiated in 1895, during the period when in
many of our industries a vary buoyant tone prevailed.
It should also ba remembered that ia any critical
analysis the results for 1895 cia hardly ba treated as a
whole. A distinction must bd miia between the first
part of the year and the latter part. The trade situa-
tion was unsatisfactory evea daring the early months,
the Veaezaela complications, the trouble regarding
the Government finances, and the renewed agitation
for free silver, baviag operated ai a check upon enter-
prise. Ai the year progresJed, coaditioos kept grow-
ing les3 favorable, aid ia Miy aad Jaae, with the
silver movemnt mikiaa; steady heidway, the shrink-
age in the voluoia ot buiiaess baoa-ni quite markei.
But it was not until the sesoid halt ot the year — oot
till the deolaratioa of tia Dsnoiri'iio Ptrty tor frej
silver in July — that the depression asiamid really largS
dimensions.
The monthly figures of pig iroi produstioa afford
a fairly accurate idea ot the course of busiieas. These
figures show that with one euaptioa there wai a fall-
ing off each month in the weekly oa'ipa'; ot iron from
November 1 1895 to October 1 1896. Bat up to the
Istof July the fallingoff had been comparatively small,
the decline in the whole of the eight months up to that
date having been only from 217,306 tons to 180,532
tons, and this was from the largest total ever reached
in the country's history. But in the three mouths
from July 1 to Ojtobar 1 there wis a further dro^
from 180,53'i toaa to 112,782 tons pir weak, this latter
reduction baiag a', the rtte of aboit SJ millioa toas' a
year. It ia to ba aaid, too, that up to and including
July the weekly prolaot was each month above that
for the corresponding date in 1895, whereas after that
the prodact wii eaoh month bilo^v that ia 1895. Tae
meaaing and sigaifioaaoe of sach conditions when ap-
plied to the exhibits of bank clearings is of course obvi'
ous. The very poor results for the later months were
in part offjet by the more favorable results ia the early
portion of the year. The followinggivea the record of the
clearings by moaths. It will be observed that the de-
cline begaa ia Miy and coatiaued through the rest of
the year. For the first quarter there was 8 '4 p«r cent
increaao, for the aecond quarter 5*2 per cent decreaae ;
but this atill left for the half-year a small increase —
1*2 per cent. In the third quarter the decrease reached
9-8 per cent and in the fourth quarter 7*6 per cent.
The showing without New York is much the same as
with New York included.
MONTULT ClBiKINOa.
Montk.
Janosrr....
February . .
Uaroli- ..
AprtL... ..
May
June
tdquar...
months.
July
Atumst. ...
September.
M qaar...
months
October ...
Kovember.
Deo«mber..
ithqusr..
Tear
CUariim. ItiM AU.
4,609.t>l7.4»9
«,I01,712.«07
«,138.O70.2]4
t2.H38.a50,iea
12.80'<,4gi.!<Stl
26.61 7.4 ta.OiX
25.3&4,8:!i.»}!
4,3(13,
3,651,
3,701,
4,M4,
4,eoa,
4,707,
,734,408
,552,303
890,057
,&&S,715
,476,03S
,631,207
13,1)10,882,057
51.175.25I.77S
4.402,8(18.00!)
3.407,fl«2.17.S
4.0S4.435,8»6
11.844,766.97:
13.6IO,067,»75
4,582.
4,138.
4,17S,
,647,»<«
SIS,?!!*
,215,505
12,876,078,885
38,230.1113,817
6,231,
4,739,
6,075,
,782,578
,1»8,70S
,878,431
15,061,384,710
53.2S2.2- 8,1
Olvxrtnvt OuUlis Stvi Fork.
i8sa.
-^4■7
-(-20«
•(-2-3
+8"4
'0-8
-130
•«-8
-5-2
+1^
-4-4
-14-2
-11-8
-9-»
-2-6
-12-3
-ft.
-7-2
2,048,768,701
1.728.720,777
2,007,9Se.4e4
1,643.220,91
1,811,813,800 1,7I>3,8»4,879
6,344,«U,320
1,882, 118,:) 71
2,021.4.31,668
1,816,366,385
6,821,903,301
6,687,288,iac
l,835,S03,64i
1,888,42.3.931
1.878.740.463
5,880.581.031
ll,247,8lU,i.0»
-7-0
1,8S3,
1,680.
1,838,
6,102,
16,390.
1,880,
1,821
2,051
,341,718
,380, IBB
.826,884
,560,781
,409,98')
739.13'*
,636,481
,682,108
6,954,096,737
22,304.478,717
11.18«,815,614
2,086,
1,821
1.802,
5,lt59,
5, 280.14"
1.502,872
!,236,49S
,018,318
18,826,d33.840
2,S0S
2,14',
i<,185,
173.818
9S7,460
,488,387
8,814,817,803
23.440.481,803
P.Ot
-n»
-f-UO
-n>
+0-7
-6-8
-1-8
—2-8
-H)-7
-7-5
-l8-»
-8-1
-rs
-u«
-10-»
-5-»
10-0
-4-8
6J
THE CHRONICLE.
[Vol. LXIV.
Ills
I to b« r»at«aib«r«d ia inUrpreting
I tor tk« jmt thftt the oondiUoiu war* not
W« h«d Tcry Kood tT»iu oropi In
ItM, Um tSMl «( vUok •xtoodtd into 1896, and th«n
■Iw**kadf«e4 grata eroptaoia in IBM. It ii true
tkM* Iwgt yMd« WOT* Bot MMai|Miil«d bj high prioM,
k«l rather by ntnmij lev prioM, eioept in tb« ou«
•f wlMAt the lattOT pui •( the jmr. Nerartheleu
Ik* graia aoraaMttt wm b«*T7, and neoeanrily tbii
■■is * iHf* ?•)■■• of eiobaogM at a nambar of
Wciiva poiali. Thu w* find an inoraaae in claaringi
tm tk* twalf* aMBtha at Minneapolit, at St. Panl and
■I Oaak^ all ia Ih* tarritory whera thara wai lach a
pkMOaaaal ■BT*»*Bt of ipring wbaat from tba crop
•C ItM ; agaia. w* baT* an inoraaaa at Bftltimora.
Ikiwagh which port tba axport moTamant of grain wai
•* haavj. At a graat laany otbar pointa alao, aran
ti)a olaariogs do not ihow an increaaa, the
DO in tba grain morament waa an important
ia oSaatting loaaaa from other caaaea. Below
w* faniiah a eoapariaon of the olearinga for fear
y«an at th* kading dkiaa, both for the twalre montha
aad for Daoembor.
AT Lm^onwoma*.
S.83g 48,S53 »0,430 43,803 51,517
ti3 3.S33 3.883 3,733 3,807
»a.T.
Among
4.7aa ».aT5 4,330 «.080Sl.l7&53.3>4S45,a8aM,334
•.oat *.ia» MM 1J05 33,304 33,440 tl,t*8 SS.OCI
thaae leading cittea, aa will be leen, the
pointa already mentioned— namely, St. Paul, Minne-
apolia, Omaha and Biltimore, are the only onea record-
ing inoraaaed elfaringa for tba twelre months, but
among tba minor pointa there are a number of others
ia rariooa parta of the country distinguished in the
> way. Tb* ooBiplete statement showing the clear-
I aaparataly for all the points baring clearing houses
will b* found on the page preceding our article on the
nnanoial tttaation in this issue of Thb Cbroxicli.
For DsoMabu it will ba obsarted from the abore com-
f*ri*oa aaitbor St Paal, Omaha nor Minneapolia rec
ords aa inoraaaa, the first two indeed baring suffered
iBp3rtant daoroaaaa; this shows that the situation in
that part of tba country bad ohangad at tba end of the
7*ar, OB* Important raaaon being that the tpring.wheat
«V*p of 18M ia the Northwest wu smaller than that of
UM. On the otbar hand, Baltimore still has a gain,
aad 8t lioois, Kanaaa City and Lonisrilla are also
feand ranged on that side. In part the improrement
■A llMa* l*tt«r potat* may b* aacribad to the continatd
larg* grain oMraaaat (tbay not being affected by the
aMallar apring-whaat yield), in part alao no doubt it
b* a*orib*d to the larijer cotton crop, thia crop in
kaTiag b**a rary small.
It is rather notawirthy ih«t if we oompire the
olaariaga for the twalre m'>athi by K^o^rnphicil diri-
dons, the parcentagea of decrease do not differ rery
much for most of the leading groups, notwithstanding
the rarying conditions prerailing in each. We know
of course that the depreaaion in trade was most
intense in the great ra%nnfacturing and industrial dia*
tricta. Pouibly at this centre the effect of this was
iomawhat modified by the large railroad reorganisa-
tions which marked the year, and in the carrying out
of whieh many checks must hare passed through the
banks. The falling off at New York, as already stated,
proTaa to hare been only 3*3 per cent ; in the whole of
the Middle States, however, including New York, the
shrinkage has not been much larj^er than this, being
3*8 per cent. In the New Eaglaad seotioa the de-
crease has been 5-2 per cent, in the Middle Western
States 4*8 per cent, and in the South (where for eight
montha of the year the small cotton crop of 1895 waa
a factor in the results) the decreaie has been 4*5 per
cent. It will be seen that ia all theie caies the per-
centages of decline approzimite each other rery
•loaely. Only in the case of the "other Western '
and the Pacific section do the ratios rary greatly from
the general ayerage. The "other Western" embracea
St. Paul, Minneapolis, Omaha and other pdnts in the
same part of the couatry, and there the decrease la
but a fraction of 1 par cent (0-6) oa account of the
larger grain morement, as already indicated. The
Pacific aection also has only a fractional decrease,
namely 0*1 per cent.
In theae last two instances, the better showing also
follows in part from the fact that these two sections in
1895 had proportionately much smaller g*ln8 than the
other sections. It is interesting to hare the figures
for the different geographical divisioDs, and in the
following we fnrnish a comparison in that way, by
quarters and for the twelre months, for the past fire
years.
ClMrtnn Reports^
.
ririt
Saoond
Third
foanb
Total
(OOOi omitud.)
Qoartar.
Qoartar.
Qnartar.
Qasrtar.
Taar.
t
«
1
*
*
ISM
rMiM
7,117.»»l
S.B14.58X
7.99<I,6M
«,870,778
law.
«.<W.8K
7.a*»,l'<8
7,«17.0«0
<<,4.'>e.7I7
a)3«U87
llft«,Tork
IHM.
B,(>M.4m
S.Olo.OtM
M.487,7«-
5.380.080
8.199,84 i
8,890.286
8^701,887
94.887,807
8I.941,0W
1W1.
lan.
lO,0«fl,7S1
8388.701
7,891,067
9,K8 1,880
86,8S9,4N
ISM.
1,890,889
1.34l,8«0
1.109.18
1.8>«.17«
5.ie4.4M
UM.
l,«SO,MI
I,a0",l88
1,344.898
1,570,107
6,S48,9»
Total MkwMIMI*....
I8M.
1,IM,0I8
i,»l.snti
l.lSl.o^n
1.348,819
4377,004
l>*3.
l,4M,W»
l,4»».«7:l
1,IW.0S7
l,igK.S91
^«77,0l4
ISM.
l,4aT.MI
l,'IU,S8n
1,308,338
1.568371
634«,M1
I«M.
l.>T8,3i(l
1331, IBS
1,(0 ',908
1,448,878
6.951,90*
UM.
l.»44,91t
l.a8S.54&
l,88l,5.'»7
l,M1.0t« 6,541,999
Tot«IR«wMMlu4...
ISM.
l.l«7.»6«
1,181,18-
t.lW.197
1,8411.' 59 4.H43.8M
18M.
I.J17.48I
I.439,0(W
1, 191.8111
1,1I77,«« 5,855,746
UM.
\Moja»
1,411,771
1,380,878
1J»<,588 5.751.480
MM.
1,MS.M8
Uissg?'
1,458.979
l,<K>«.140 6.314.757
ISM.
1,M7.1»» l.«?l,03I
l.« KM^
l,8fll,79i' 6.811.T79
T«t.lU44l* WMt«ni.
ISM.
t.443.672
1.&S4.S^
1518.187
l,8e9.IM 6.1A1.9V8
ISM
1,801,803
1,8<4.IW(I
1,358,939
1,585,8^6 8,87H,eeo
UM.
i.aM,4n
1JB08,9M
I3883n
s.04B,4M 7,as7,oas
UM.
t<i.an
S4S,IM
889,788
976040 9W,948
ISM.
SM,Olt
•41,»8
848,0M
988.113 998,908
T*tolPMtS<
ISM.
MB,M7
IM,f»7
S8>>,80S
919,9«B
909,188
938,<41
882, 7«S
M7,140
1,098.8<7
IMS.
SM,)M1
ISM.
«t5.8eo
*7«3t0
801,000
S<9,6r4
1.179,06*
ISM.
4II,7W
40l.l«4
87*. IM
471,«60
1,867,418
I8M.
M7,MI
89«,'>0»' 81«,l»
500,410
1,8873SS
fatal oU«r WMUra.
ISM.
870,091
SM.OOaj 874.3M
458,788
1,49* SM
IKM.
6n.48e
M8,7ll9i 810,187
411,107
1,760,48*
ISM.
470, tan
4«8,08l| «lt.4il
5MJM5
9.078,864
ISM.
r»,4M
080,114 S8'<,9e7
890.97V
8.994,85*
UM.
748,SM
781,989; 004.H8I
818.30
8,061,881
ToUISmUvb
vat.
7a«,Mi
88 13 18
800.H40
8U,7«9
9.758318
I>«S.
8M3M
788,449
«9(t.7«3
, 1^,'l'H
9,«7«,883
UM.
7n,HM
7i(,8M
ew3v7
037.76;
3,117.00*
[UM.
UJSSJSt
18,Ha8,487
I1,8I7,'51
iaoi''.«im
.'ll.175.S8*
ISM.
ll,M\TS7
l8J09.8ra|l 8,87)1, IH.1
16,058.375
53,«89,»7*
Total aU
ISM«.
ii,oae,aM
11.811.508 I0.&P1.018
19,766,450
Alt ILWI 4«l
ISM.
lUH.
l«,4SS.IU
14.704,911^10.814.884
it,i9i,8ae|B4,an!MS
18.1*8,074
18,091,844
I8.8U,908
18,81>1,7W
89,011,107
Jancabt 9, 1887. J
THE CHRONICLE.
63
CiM'iDira Reported.
(OOOi omitted.)
•nUtde New Tork
First
Qnarter.
Seonnd
Quarter,
Third
Quarter.
Fonrtta
Qn8rt(*r.
* ( *
nma.
Iises.
6J19-'S»»: 6.iW>,S8«
6.843,902! 6.821,T9A
1894.
B.0T0 266, 8 8 1.5^P
IWS.
0.5^4.122
8,276.486
ItSM.
•.089.343
6,ia8,'<4S
fl8B8.
24S.878
S42.3K
19V6.
aw.rss
8S4,<78
1S94.
s»),»as
881,210
1883.
290,W)e
»t5,87S
1892.
881,131
239.4.<<3
S.10'J.6<VI|
6,859,123
5.010.9621
4,6tl,>l43!
6.O04.X48
849,971
968,187
837.804
842,320
286,781 1
5,964,067
Total
Year.
82,804.477
8,rtls,C58 23,440 4H1
5.906.I5i 2 ,l'-3.928
S,' 90,021 1 22,962,270
7,039,806
891,093
302,202
874,612
840,964
887,410
't
26,348,631
1,069,027
1,042.944
989.561
977,070
1.014.7SS
It will be obserTed that barri ng one gron p, namely
the S)UtherD, the 1896 aggregite is ia each case above
the very am til aggregate for 1894, bat with that excsp*
tion the Biuillest of any of the yeara givea. lathe
Soathera group the 1896 total is larger than that for
1893 as well as that for 1894. To cirry these comp»ri-
■ons with past years further back, we present the fol-
lowing. I a this case we give only New York and the
totals for the country with and without New York.
CLEAHISOS.
T«u.
urn
18M.....
ISM.....
U8SL....
isa*.....
1801
lawi.,..
ISSB.,...
use
ua.....
un...
ttra...
New Tork
ClearlDgs.
•29.870.776.066
99.81 l,7«6,g84
»t 887,'<07,nS0
81.8 l.(n7,78n
»l,«68,48H.*n9
80,748,382.919
87.4M.6U7.6an
ai/>ss.i>v(,9ae
St.l0a,087,i9t
SS,4'4je«.988
33,«78,'e9.619
88.192.201.336
80.UH6.871.I70
97.484.800,878
46,918.966.081
49.376.8'<2J*IS
3a.ei4.44M.293
89.336.673.829
iyj8W,«Tl.«)7
Per Ct
Inc. or
Dec
~^f»
+88-8
-82
— 14"7
+8-6
-(W
+4-4
+1S-4
-VI
-art
+19-6
-8-I
-irt
-im
+2T»
+38- 1
-KT-a
-6-7
Clear-
ing* ODtBlde
New Tork.
Per Ct.
Inc. or
Dec.
ToUl
Cleartnm.
S92.S04,4Tn,T17j — 4-*
8S.<40.739,66P, +101
»1.188,998,0eS -7-e
88,Ua8,*70.878| -9-4
88,8I8.6S«,080 +10-S
8S.8»7,OS730S; -0«
83,166338.814 +14-2
90,980.293.091' +10-0
18,44I,607.3')7{ +4-8
17,679,972,89^1 +18-9
lS.618,'-»I,a06 +ir9
\sj3»uea».io»', +0-8
18,214.113,813 -m
14.297,171,924 +2-4
IS.982,*'flJ79 -0-9
14.094J06.88I +88-«
ii.ar;s.4aoj)oo; +m*
9J2M3a0,W0: +16-8
7.900,100.0001 -4-9
•91,176,961,773
63.882,87><,697
46,676,738 0T7
s4.as3,soe,oo8
•8.0ll,l07,2t«
Sa.73«>Ml.ul7
8O,S8S,»4O,407
sa.i7»,at7,98e
48,641,884,888
61.147,688.004
4S,988,'»1,«18
41,474,041,044
44,!9e,0e4,783
81,781,479.7W
80,878,941,610
83,471.380,944
48,989^8,288
88,996,478,889
87,818,771,307
Per CI.
Inc. or
Deo.
-4-0
+18-8
-19-9
-196
+9-8
-8-4
+7-9
+18-4
-8-1
+8-8
+18-9
-a-i
-14'«
— 18-C
—40
+870
+8B-7
+88-6
-•■8
SALB* >r 4roO<8 It
TH't NSW
TOBK STOos iticanANaie.
1898.
1896,
Month.
Jrum6«r
of Shares,
VeUuu.
Ifumber
of Shares-
Values.
Par.
Actual.
Par.
Actual.
Jan
reb
Uarofa.
4.636.812
6.203.098
4.688.579
14,326,28V
4.058,814
2,799,8 IS
4,370.766
•
417.301,660
492.613,700
388,928,000
«
280,446,6«6
306,289,139
262,465.667
809,200,471
266,369.075
188.03:<,302
295,880,013
740.082,390
8.848,906
3,024,032
6,128,639
11,396,476
6,036,710
8,932,707
6,030,415
19,999,832
31,396,308
6,849,488
6,369,ul9
8,823,>'40
•
318.422,600
300.314,760
499,445,800
(
192,836,084
188,106,308
301.268,171
letqr
April...
May
Jane.. .
l,a86,841,l!5C
372,065.175
863.71 2.ii33
417,371.650
1,U8,1S3,060
482,468,355
859,163,950
679,44;!,850
1,921,074,155
e80,010,»S*
271,711,890
483,88e,67»
8lK,870,78A
Sdqr.
11,228,992
l,06S,12J,25>
1,054,270,68»
6moi
July....
Auaost
Sept...
86,654,281
6,!^ 65,081
4 267,8H
4,674.208
2,349,970,608
527.594,250
412,967.67.0
431,798,550
l,649,282,8dl
354,381 ,2S2
868.718,029
274,215.388
3,038,257,205
681,238,2.«0
490.170,700
628.702,500
1,734.281,168
342.847,860
337.335,831
810,801JJTT
»(Jfr.
U.S98.000
»9,9&2,281
4,931.488
6,89^,298
S.871,079
1.372,368.475
897,316,077
17,942,326
1.630,201,450
980,784,868
• mo*.
Oct ...
Not....
Deo....
S.722,82?,1'83
458,713,350
664,269,050
367,332,600
2,448.698,538
312,921,847
330,lP4,68l
240,341,974
49,338,83?
5,250,675
6,049,900
6,944,«4
4,719,458,866
492,830,800
486,003,40.1
836.300,-i50
2.726,066.690
802, 070,810
994.484,8(«
418,718,960
4th qr.
14,701,815 1.388,314.900
883,37 1,40;
17,844,99ti
68,683,232
l,69a.l34,<60
1,013,273,064
Tear.
6l,864,0a6l5,110,843,(«3
3,S2f,96",94
6,312,59 3,105'3,808,3S8,80«
Here it becomes apparent that the 1896 results maks
after all a pretty poor showing in contrast with most
other years. For New York the 1896 total is the
■mallfst, with only two exceptions (1894 and 1885),
since 1878. In this instance, however, it is possible to
give an exaggerated importance to the fact mentioned.
The greater part of the share sales of the New York
Stock Exchange is now cleared through the Stock Ex-
change Clearing House instead of through the bank
cleariEg house, and this of course means an important
reduction as compared with the years when the old
methods were still in force; the change dates from the
inauKuration of the new system in May 1892. Inl89C
the Cotton Exchange also (beginning with Mirch 5) com,
menced clearing its own traneactions. On the othep
hand, if we take tbe clearings outside of New York,
where tbe number of clearing houses has greatly in-
creased in rt^cent years, the comparison is also quite
nnfavorable to 1896; with the exception of 1894, when
every leading condition was unfavorable, the total i,
the smallest since 1889.
On the various Exchanges, stock and mercantile,
the year was not one of great speculation ; and thi^
follows of course from the conditions prevailing. Of
cotton, the future sales ware only 46,727,800 bales in
1896 against 51,489,700 bales in 1895, of grain only
1,285 million bushels against 1,899 million, and of
stocks only 54,654,096 shares against 66,583,232 shares.
Oa the Stock Exchange, indeed, the volume of busi-
ness was small even when prices fluctuated widely-
Take July, when Bryan's nomination precipitated
almost a panic, or November, when Mr. McKinley's
election caused a very buoyant feeling. In neither
month did the share sales reach six million shares.
The following is the record by months.
The railroad bond sales for the two years furnish an
equally striking contrast. I a 1896 the aggregate was
8363,158,820; in 1895 $499,758,080. In 1896 the
largest monthly total waa $46,625,350 in November ;
in 1895 there was one month (May) when the total
reached $78,556,700. The following compares the
yearly aggregates of the stock sales back to 1877. It
will be seen that, barring 1894, the 1896 total is the
smallest since 1878 :
aOMBKB AMD TALDE or 8HABB8 80U> AT HEW TOBE STOCK BXCUiXOB
Tear.
Stooka,*
Sbarea.
At'ot
PrlCP
Valneet
(ap'roxlmte)
Tear.
8tooki,»
Shares.
AT'Ke
Price
Valnetf
(ap'roxlmte)
94,664,098
88-2
(J,33V,9<!9,94U
1886....
100,802,050
65-6
»9,e85,882,»0O
06,689,988
00-3
8,808,388.804
188S,...
92,988,»47
64-1
6,479,890340
49,076,038
648
S,0M,e48,7O9
1884 ,..
98,194,971
81-77
6,939,900,000
80,977,839
80-8
' 4,580,280.918
1683....
97,040,909
84-51
6,260,809,961
88,875,009
83-B
4.874,014,962
1888...
116,307,971
86-18
7,689,468,486
00,031,689
6M
3312.847,419
1881....
114,911,248
71-99
8,197,908,408
71,989,888
•0-9
a,977,6«4,l«8
1880....
97,919,099
69-60
6319,086,094
78,014,000
61-0
4,089:831,891
1879....
72,786.762
66-85
4.136,933370
08,179,106
69-6
3,830,519.143
1878....
80,875,698
64-10
8,137,28«,681
84,914.818
81-1
4.B08.778.WW
18T7....
40.W12.9<V1 ra-'ol 8<V11 8»>610
1898..
MOS..
1804 .
IS«3..
1808..
1891..
1890..
1889..
1888..
1887
* The $haret of atooks we take from tba rtjoord Kept tiy lUe Jounuu of
Oommeret for tbe years 1877 to 1884, inoluaive; alnce 188S the total*
are oar own coinpllation.
f The raluea of sales for tbe years 1877 to 1882, Inclusive, are the
Bsures made np by Tlu Public; the totals for the remalnlDR yean •!•
our own compilations.
We also add the record of the dealings on the Pro -
dnce Exch»oge. Ia this Cise the 1896 total is smiller
than in any year since 1882.
■ALB8 OP FLOUB, WHEAT, AC, AT NEW TORK PBODDCE EXOHANOB
[Twoolphers (00) omltteil from tbA figure < for Wheat, Com,
Oats, Barley and Bye.]
ricor.
Wheat.
Com.
OaU.
Barl'y
AUalt
Rye.
Total.
BblM.
Bush.
Bush.
Bush.
Bush.
Bush.
Bush.
lat qoartar, '06
1.000.625
186,230,«
19.02:' ,9
8,679 7
8310,0
100,0
10»,0S7,081
'96
1.3393^5
888,774,0
89.98 •'.CI
11.860,0
330,0
318,771,489
■94
1,362.816
888,001,0
85,»89,0
18,326.0
7403
83
843,990,80*
•98
1,189,8011
81 9.496,'
87,680,.
18,874,0
1883
41,8
886,470,460
'92
071375
390,854,0
96,4 12,C
80,7903
4873
7683
513,636338
94 qaarter, '96
1,062,046
327,900,2
2.<<,42l.l
14,148,4
1,613,4
5133
872,45«,8«S
'96
1,619,140
786,788,0
38.776,0
21,4093
....
862,749,18*
•94
1,48' ,860
416,214,0
96,33 1,0
193233
60,0
13
472,661.898
•98
1,602,000
494.961,0
<I0,7-(I.0
83,709,0
43
886,7
846,948,70»
'99
1,178.825
421314,0
87,069,0
273853
2»3
648,7
648,09631*
•d qnarter, '96
1,88 1,596
21'A92«,0
26,469,7
9,957,«
1,444,0
889,0
894,788,877
'96
1,43H,500
391,364.0
46,9183
14,014,0
649,0
33
419.8S7,8»0
•94
1,200,930
273.061.0
89,958,0
19,186,0
.,.,
387,588,688
•93
l,4»',625
806,384.0
82,718,0
84,1933
1293
970,680,86«
'92
1,149,445
189.819.0
66,1873
89,489,0
903
48,7
280,768308
Mh qaarter .'98
1,290,835
422.545.2
aa.6H8.3
7,078.4
1,6663
0993
459,573,868
1(6
1,378,878
859,878,0
88,073, ■
10,5933
2,9763
310,491,988
'94
1,127,02^
275,886,0
30.4803
19,904,"
680,0
381,880,618
'98
1,328,510
188319,0
49 l'-3,0
19,018,1
l.OrtO.O
13
S69,733,I0S
•9»
ToUl 1896
1,231,229
179,419,0 56,740,0
87,740,(
1963
803
888,665,118
4,613.00-1
1,129,890,0 90,601,0
37,458,0
■f,I80,0
13413
1.286.908,600
Total 1896
5,870.40"
1,866.8383 147,786,0
67,8663
3,1603
33
1,899,363,400
Total 1804
6.118.690
1,291,9413 13I.9'0,0
87,877,'
13603
9,o'
1,476311,98»
ToUl 18«S
5.600,3*
1,099,299,0 176,»'I6.C
80,2843
1,8623
458.3
1,342,711,807
Total 1899
4386,770
1,161,406,0 896388,0
106,814,0
7903
1,8783
1,888,16438»
64
THE CHRONICLE
fVoL. LXIV.
MR. LITTL9AMD THE BALTIMORKS OHIO
I'AR ACCOUJfTA
▲fur tb* •pprMMiM of ear UtM* *rticl« on the
I * OUo, in tb« !«•• of DtMiBtMr 96tb, Mr.
. • d«tir« to mftka « farther reply to oar
rtrW* ud erUldwB of bu report on thet prop«rij.
Wo (»«• hia pof iwion to do eo u folly m he wUbed,
ottkooKaM Ubm etatioK thet «e would publiih whet
ko vfoto. end M we bod olreodf oorerod (he tubjeot lo
Ur •• we thoafbt it oeefui, it wm not oar iateotion to
ttfiy lo IL lie hM oooordioKlr written the following
MUr. Bfory tlatoaoat Mr. L-ttle now mekee we be-
IWwo •• boTO la etmo ooo or more of onr three orticlee
olMrty aed podtiTolj nfatod, ond we lioiplj repeot
vfeM *• mM la dodaf the laat one of them, thet onr
tf«r«e are In need of no qneltfioation, modification or
47 WlIXIAM Strbbt. I
IfBW T<>»E. Drc<>inb«r Mtb, 189& f
■ ■III r «f lk» O&mmmtkU vtd n»ancial ChronieU:
MV Oiuo Sn— lo year effort to art mo riKhl by your arti-
elo«f Ike MUi loetaal 0* tbo Baltinxire A Ubio car aocounU
fe« bo«*, 1 rrcret to tmt, only iotentined tli« wronfc. First
«f all, y«« orariook IIm ImportaDt fact that it was not the
Mitre aad ealiiaadiaK report* that I examiaed,
„ Too, in your analysis, pin your faith to the
MnMr wUla I appeal to tho laltrr for tba ▼•rlflcation of my
l0HOa IhtaaciHaat. That the actual addiliooa to the com-
paay's •quipmrat fiir tbo period covarad br my examination
vara. ■* I staled In my latter to you or the 22d instaot,
fMUjHBU— ao Bore and no leas— is absolutely incontro-
jlrtMikjour oootratioo to the cootrary notwithstanding.
MM jroa accuatd m* of ixnoring thia alloRetbar, and then
vMto aeaaioaUt admittioR thatcaoh and every item thereof ia
!• b* tooad in toe balaaoe abeat. you and fault because I did
BOtaaU fpMial a tt e a t ioa to It in the text. There wma, from my
Maadpoiat, no aaore aeoeaaitT for this than that I should eall
attnilioa to the large aequisitJona of stookaaad bonds of other
aoaipaaiea in the same period. I ean ooooeWe of no reason
~*^~ I skoald eall attaatioo to matters about which there was
^OMlloo. The halano«> sheet speaks for itself
_ aeeoralaly the ooo<liUon of thf accounts on the
Bemote" from the subject, as yon term it, It is nev-
a »«ry rllal part of my report. The real difft-rence
OS oo this pirtirular point is that you erroneously
tour fixurrs from the poyia^nfa purporting lo hare
-*- aceottliog to the companT'a official reports, while
a M« afCtual dtbit* from tht eompanj/» book$, inde-
— of stiFh payotents, and also irresi>«'CtiTe of whether
paymrnU were made from capital or revenue, or parily
oae ard partly from the other. To undertake as you
do. to Bx tb* exact amounu that were paid from each fund I
— *^ aa impoasible.eapecUlly where theae funds were com-
-• aad llM capital and revenue accounts kept in one set
~^^2 ■•^•ethe casa in the Btltimora ft Ohio Company.
'jWyy yytoa a or aal d that "all the car trust payments
■aa aaia eaaMaq torartnne aoooum" for the sim|>l(> rraron
■aattap aoaldaotbeeoueatad and sUll appear in the bal-
■aM tbeet as aaaeU. Th» <iu.)Uiion in my letter of the 23d
It, from which yoo drew this inference, is your language
COTTON OOSSUMPTIOy AND OVERLAND
MOVBMhNT TO JANUARY 1.
MeetlDf: with no ipecial hindrancps the marketing of
cotton in Odcember hat been qnite liberal. Our state'
meott indicate that there hat oome into tight through
the porta, interior towoa and the rail morement over-
land 1,649,705 balet, or 213,675 balei more than in
Deoember of 1895, but 432,283 balet lets than in the
month of 1894. For the four montha the aggregate it
6,297,764 balei, againtt 4,921,643 balet for the timilar
period of 1895, and 6,949,488 balea in 1894. Spinnert'
takings have boon less frea during the montu than in
either 1895 or 1894, and their total takings for the four
monthi fall below those for the sime mnntht of last
year by 44,291 balet, and contraated with 1894 the do-
dine it very heavy.
OVBRLAND MOTBnKT TO JAKUAHT 1.
The ^rof < movement overland in December thit year ,
while tlightly greater than in 1895, hat been much leu
than in 1894, reaching 227,925 balet, againtt 215,025
and 359,477 bales reipactively. The season's total it
noir 84,645 balet more than in 1895 bat 338,095 balet
lett than for 1894. The nH overland for Djcember it
less than for the month of 1895, having baen only
151,824 biles, against 165,131 bales, and there is a de-
create of 62,283 bales compared with 1894, when the
•K8n*K»te was 214,107 balet. For the four months the
aggregate net is 649,630 bales, an increase over 1895 of
21,991 bales, and compared with two years ago the loss
is 277,210 bales. Presented in our usual form the
results for the past three seasons are as follows :
OTCKLAXO FROM SErTEMBEB I TO DKOKMBIB 31.
Ta«aitoaooi*emeof omiWiogall maotlonof the $1,760 000
falnaluiiln thecar irtMtof lW7,but here again let me appeal
^j?**?^.' •.•:«' "•• »>alaficeebeet On the debit side that
«ar ttwM<Na. 1) WW carried at W.500,000 Septemb r 30. 18S8
aMJIovembw W, IS96. reapectirely, tber« being no cha ge
■J""" a^waao these datea. Oo the credit or liihiliiy ,ide
i>f a^paat aapaid waa given September 39. 1888, at t3 250 -
W g « Woeyal>r M. law tyO.OOO, showing a r^luoTtrn in
SUSSJTm •'•.^"~- 0<~'«> t*""* beanrthing plainer
gMMMa. How, theo. can you say or mainUin that I over-
••P^lJag tha laeoaae acoonnt on the opening page of the
~^"L* y*"*** rnwcta. from which vou quoti. it ought
^JS^.^^ oharglBC operating expenaea. interest,
>^aiM oivMaode. It ta not an income account at all The
■ ■ ■'!!?„!■*!'.?*,*?***? sutetn.-nt in the abstract orbi-
«**™ J?'?* *m. '^e**^*'" ainounia as having been paid
'■■•■■ •"•out any proof whaierer ih»t the sums set
»0. where, to the unwary rea'W. the b«lanr~ was $311 M7 23
Sl^** i^° •"?"<*'>'• to funher dividends on Ihi com
2ffJ!l?lHi l![?.?*'r..'** "*• •***"' •"*" '"•" •<^«Hlol, page 18,
R?.JlL!2Ll;t5wiifL*'!l- Th.*.c.lUd appUction
r%SI^Sf^L7 .^ * '■ '••• "'•on-'- de.crib«f was, as
natreaaUL paraly arbitrary and conjectural.
Towa vary InJy, Stbphbk Uttli.
Imoonl iMpptA—
Via St. Louis ,
VU Cairo ,
VlaParker _..,
Via BransrlUe
VU Loolarllle ,
Via Cincinnati
Via otlier routes
BUlpped to mills, not Included alMve.
Total iroaa overland .
Osducl iMpmenU -
Overland to New York, Boston, Ao....
Between Interior towns
Salveston, Inland and local mills
Hew Orleans, Inland and local mills. ..
MobUe, Inland and local mills
Savannah, Inland and local mills
Ohaiieston, Inland and local mills.....
V. Carol'a ports. Inland and local mills.
Virginia porta. Inland and local mills. .
Total to l>e deducted
LeavlnK total net overland*.
1896.
1895.
833,193
334,183
176,742
149,559
9,115
11,974
1,537
45
S9,t89
86,180
81,160
46,018
62,4i9
41.391
5.418
5,108
759,103
674,458
1894.
564,339
213,714
18,530
2,006
108,554
105,079
78,607
6,869
187,391
2,097
3,154
10,305
8,418
718
330
8,270
209,473
116.609
2,210
2,709
10,071
2,895
7B7
4,915
586
4,068
146,819
549,680
627,639
1,097,198
215,186
13,815
1,821
13,256
13,015
1,698
7,512
683
3,373
370,368
826,840
• TUa total Inclndes sblpments to Canada, by r»ll, which since
September 1 In 1838 smoaated to 40,277 bales; In 1895 were 33,287
bales and In 1894 were 44,731 bales.
R8CBIPTS, EXP0RT3 AND SPIITNEBS' TAKIN03.
The port movement — the net receipts at the ports —
has been but little less than in Novembsr but much in
excess of Djoomber of last year. The total for the
month has been 1,256,000 bales, which compares with
987,899 baloi latt year and 1,497,560 balet two years
ago. The aggregate for the four months it therefore
1,436,249 balet greater than for the corresponding
period in 1895, although 323,395 balet less than for
two years ago. Foreign exports have been on a liberal
scale, reaching during the month 1,078,102 bales,
againtt 726,415 bales a year ago and 1,220,609 bales in
1894, and for the teaton to date the aggregate exportt
1 have been 3,427,842 bales, or 1,266,043 more than for
' the corresponding period of 1895. Contrasted with
January 9, 1897. j
THE < SRONICLE.
65
1894 there is a loss of 7i,6Q-i biles. Pjrt stocks bare
increased 101,120 bales daring December, and are now
166,504 bales greater than on Dacember 31 1895. Oar
usual table of receipts, exports and stocks is as follows :
MoMmmt from \ B««*P'»
Ittceivtt
Hnce
Sept. I
■XPOBTS
SINOB SIPT. 1. 1898 TO-
atocki
Dec. 31.
8n>t. 1. 1898. U »<'>"
Bee 81 1888. 1 *Pt. 1.
ertat
Franee.
Omtu
7otal.
1 1894.
I88i.
Britain*
n«nt.
SklTUton l.(M&,797
974,511
511,48S
isg.i8S
180,019
820,875
198.994
Texas Clty.4c.| es.776
e9./5->
18,189
13,169
8.311
N»wOrleaiu. . 1.1b4.742
1,189,199
488.848
246,432
297.407
1.029.4S4
470,038
Mobile 199.su
131.219
88.188
7,927
93.113
60.499
riorlda
<?,68g
19.380
39.721
4.372
38.098
SsTannah
«i».2aa
823.709
40.788
18,341
128.455
282.884
101,002
Bnuuwlok.*e.
izo.eoi
84.713
97.«0»
3,865
71.469J 8,831
(nurlaaton
ai7.:4»
210.493
88,783
i;8,983
207.718
49.0U
PortBoy»l.*«( 58.842
37.867
11.101
81,101
Wilmington 20S.I10
194.618
96,431
87.371
182.802
18.780
WuUiu[t'Q.Ac, ess
8)2
Hortolk MLOei
181,822
122,388
6,^00
28.260
166.838i 37,41>1
N«wptNei™.4al 11,914
187.674
6,860
8,850 2.6SS
■ •wTorit
sa.t»j
19.663
141.241
Jl.»2i
S6.8S6
242.032 293.784
roftoa
99.ei6
S0,9«4
67.782
18.337
127,748
48.6S2
3.862
1.704
S4.0S9
128.962' 34,010
Baltlmor*
S3.283J 19.949
Phllwlelphls ...
23.81t
22.827
6.80i
•49
6.854 1 8,989
San FrandBco..
93
18.721
18,SU|
Total lb9«
4,91S,25i
1,888.187
411.719
1.127.98-
3,427.842
1.295.118
Total 1895.....
8.487,001
»i'6.401
284.0SU
889,312
2.162,799
l.l!8.«lt
Totalises. ...
i6.!««.M8
1,713.611
4«'/.71-
1.324.215
3.499.5M
1.31 0.BT
* Great Britain exoorta Inolade to tbe Obaaael.
Using the facts disclosed by the foregoing statements)
we shall find that the portion of the crop vrhich hai
reached a market through the oatports and overland,
and the Southern consumption, sin ;e September L this
year and the two previous years, is as follows
BeoelpUi at tbe ports to Deo. 3l...baleii.
' let «lUpni«Dtaovorland during same tlmA
Total receipts bales.
aoathem ooasamutloii sinoe September 1
Total to Deo. 81 balea.
1896
4,923,253
519,630
S,634,>!83
1895.
1^94
3,487,001 S.240,M'«
527,639 82«,840
4.014,6)3 6, b73,488
35l,000l 318.0UO
4,368,643 6,391,488
The amount of cotton marketed since September
1 in 1896 is thus seen to be 1,466,240 bales greiter than
in 1895 and 556,605 bales balow the total fi>r 1894. To
determine the portion which has gone into the hands of
Northern spinners during the same period we hart
prepared the following:
Total receipts to December 31, 1896, aa above bales. 5,834,888
Stock ua haad oommeaoemeni, of year (Sept. 1, 18961 -
At Northern ports 70,990
At Soatliem ports 151,688 222,678
At Northern Interior markets 4,056 226,784
Total supply to December 31. 1896 6,061,617
Ot this snpply there has been exported
to foreign ports since Sept. 1, 1896..3,427,842
Lass foreign cotton Incladixl ....bules. 13,703-3,414,139
8eattuCaa»UrUreat from Weic .... 40,277
Bnrnt !forth and South.. 2,139
Stock on hand end of month (Dee. 31, 1806)—
At Northern porta 393,038
AtSoatbemporU 941,478-1,295,116
At Northern Interior markeU 5,639- 4,757,309
Tot. taklni;^ by spinners since September 1, 1396 1,304,308
Taken by Southern spinners 36'2,(MH>
Taken by Northern sptaners -luce September 1, 1396...
Taken by Northern spinners same time In 1895
942,308
986,509
Deoreaae In taklnxs by Northern spinners this year. .bales. 44,291
The above indicates that Northern spinners had up
to Jan. 1 taken 942,308 bales, a decrease from the
correspoadiag period of 1895 of 44,291 bales aad a
loss from the same time of 1894 of 434,846 bales.
AMOUNT OF CROP KOW IN SIOHT.
In the foregoing we have the number of bales which
has already been marketed this year and the two
previous seasons. An additional fact of interest is the
total of the crop which was in sight on January 1
compared with previous years. We reach that point
by adding to the above the stock remaning at that
date at the interior towns less stock held by them at
the beginning of the season. In this manner we find
tbe result for three years on Jan. 1 to be as follows :
Total marketed, as above... .bales,
(aterlor stocks In excess of Sept. 1.
Total In slKht bales.
1896.
5,834.883
462,881
1895.
4,368.643
553,000
6,297,7641 4,921,643
1894.
6,391,488
558,000
6,949,488
This indicates that the movement up to January 1
of the present year is 1,376,121 bales more than in
1895 and 651,724 bales less than in 1894.
As it will interest the reader to see what has come
into sight each tnonth of the season during this and
previous years, we have prepared the following, which
shows the movement for the last four seasons.
Hontht.
September..
OotobM
November..
December..
Total 4 mentiis.
Balance season..
Total crop.....
1896.
1,222,287
1,891,562
1,634,210
1,549,705
6,297,764
1895.
542,394
1,722.122
1,321.097
1,336,030
4,921,643
2,240,830
7,162,473
1894.
663,703
2,ll«,fi30
2,l»7,167
1,971,988
6,949,408
2,943,278
9,892,766
1893,
511,273
1.637,555
1,704,608
1,613,603
5,467,039
2,060,172
7,527.211
WEIGHT OF BALES.
To furnish a more exact measure of the receipts up
to January 1 we give below our usual table of the
weight of bales. We give for comparison the figures
for the same time in the two previous years.
Same
Bamt
four monthi ending Dec. 31, 1896.
peri'd in
perCd >n
1895.
1894,
Ifumber of
WeigKt iti
Average
Average
Average
Battt.
Poutidt.
WeigM.
WeigM.
Weight.
l^xas -.
1,114,572
1,484,742
589,374.528
766,698,760
52879
509-65
526-92
512-81
538 00
Loolslana
515-92
Alabama.
199,512
100,753,560
8050J
499 00
51200
ieortfta*
787,675
382,164.136
485-18
48413
493-71
touth Carolina.
370,587
180,268,340
486-44
483-27
493-26
i^Rlnla
672,976
275.630,105
48105
484-63
49333
Sonh CikroUna.
205,798
100,841,020
49000
49037
495-54
remea8ee,Aa..
1,099,021
543,031,773
498-70
500 00
49880
Total
6,834,883
2,933,812,242
602 81
503-25
509 81
Inolnding Florida.
It will be noticed that the movement up to December
31 shows a decrease in the average weight as compared
with the same period of last year, the average this year
being 502*81 lbs. per bale, against 503*25 lbs. per bale
for the same time in 1895 and 509*81 lbs. in 1894.
DRY GOODS TBADB DURING DECEMBER.
The market during Dicember proved thoroughly dis-
appointing. The domdod which failed to make its
appearance in November, as the outcome of the elec-
tion, was expected to materialize before the end of the
year, but business instead of improving shrunk within
eren smaller dimensions so far as home trade was con-
cerned, and a decidedly poor month's returns have
been recorded. The courae of the cotton market has
been a hindrance rather than a help, the print cloth situ-
ation has hung like a cloud over all departments, and
serious financial troubles in the West have caused dis-
quietude and extreme caution. A good export demand
has been a redeeming feature and brown goods affected
by it have ruled firm, while other brown goods, bleached
cottons and coarse colored cottons have been very
easy to buy, although not quotably lower. Printed
fabrics have sold moderately; fancy priuts opened at
5c. for spring — same price as last season. Tbe ging-
ham market has been dull throughout with dress
styles in all grades in very indifferent request. Print
cloths declined ^o. for regulars, with a very small busi-
ness passing, and odds fully as much, with moderate
sales. The month closed with enormous stocks of
cloths on hand and the market, so far as regulars were
concerned, purely nominal. Print cloth manufacturers
are endeavoring to sell a large quantity of cloths abroad,
and failing that, may adopt a pooling arrangement to
THE CmHONICLR
[Vot. LXIV.
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FAIX JUF#B JM/ZX DIVIDENDS IN 1898.
Tba diviitood raeocd of the K«ll River eottoD-m8ou(ao'arinK
80fpa*lll>iw for Um olo*in« qumrtar of IW » hw b«ea tlitthily
aMM tavofaM* Uimi thkt for tb* prtoadi-ig qairter, hui l<^a
1li>8«inry th*a ta Um oorrwpoadinK quarter of 1893. O'
Itelkirty-srrrn coa>p«aic« iacluded ia our «t»t«a>ent eixhi
h««B pMWd thfir dlTidMida thU qaarter, and all out four bavf
JJiUlh^Hii lam thaa in lb« aana pariod a year ago. The
) aawsi paid oat for th* fourth quarter of 1896 hns
, or an av«rac« of 1-8) par ooat oa th« eapital
la tm94W,7W mw» ditlritmtad daring the aa<u« period, or
•■ aTMac* .rotara of t-07p«roM>t; but ia 1891 the ami>uot
PiM OBI wai tmXf 1*48.400, or aa aTerago of I'M per oeot, and
to UnahanboMwa noairad in tbo agicrente 1400,430. or 1-93
pw ooat oo Ikeir boidlnga. Tha deuila for the foartb quarter
an aa fotiowa:
ilia with tboae for tha nine montba
to IkaOnomou of Angoat M. page 843), we have
loUowiac asklMt lor tha foU jaar. It will be aeen that
aMaMlaknaala. aritli aa acgregaUi capiul of
bawa raO Hia aa to aha r atio l deia tl.8M.873 ia 1894,
of • U par oaat. agaiaal |l,m,W8, or 8 U par
orav la 1800. The exhibit in detail for 1890. cooapared
\m6, ta a^followa i
rith
TBABa
kmt%mm UxwCo-.
••nUk' ll«««f»«'* cV>.. .
i «r«»N MuarM"* On.
Sit**' Oltr Maa'rit Oo
an«nM MMo
CkM* tlilli
C^nsal 'ttt Mill*..,*
Oonail Kill!
Ilsful HUM
niol Mllla
aiobaTwa KUI«
U«aBlt« MIIU
HancmTM MIIU ,
garrTferaadOn ,
iiM PklHpMilla.
Laaral Uka Mint
jjithaiilaa' MliU .....
Oinaaiiu' Maaa'aeViOa.
Mauaoaat MaaTg da....
Narraauaau Miiu
itaitnni WIU - ..
PartarMili
^^■Oi■^a ■ Maiafaat'jflo.
Hl<^ard B'-Mm MTiOo
Robacn Mlli*
^Mcaianra IAf«. Oi.
Sanror^ SptQolaa <)o
' »»noa( MlIU
lova M lit
I Mill!
.i>r4MllU
'aw Manaf aotor'f Oa
\»>\
AW Mr<. 'V...
«ilai« Cotton W'f'^Oo.
■■panoaa Wilto
WaauoioalllUa
Tnula.
-'.100
-IS7M
• InaladiiM an aitr* dlTldaad or S -ar sanl from r«U aatata.
f On eaotlal i>r ll<n o ■>. < OneanlUlof |]lt.ll7H,(Vi>i.
• laelDdlna axtra dind«o4 of !« par oanl. b Incladtog axtra diTldaad of
UparaaaL c iDoladliiaaztradlTldaod of A per oaot.
It will be obaerved that two milN, the Baraaby Mfg. Co.
and the Metacomet Mfir. Co., have followed the course pursued
in 1895, and have de.lirel do dividends ihls year, and that
seven corporaiiuns have maintaiaed che ssma rata of di-icribu-
tion aa last year. Of the renainiag twaa yeii{ht mtlU, a
Isrge ma j irity — in fact all but eleven —have paid out leM than
a yoar ago, and ia some instauoej thedecreif) is quite heavy.
To furnish a more comprehensive oomparism we hav>4 oom>
piled the following, wbich embraces the years back to 1838:
Ttan.
i^we ,
Numbtr. Capital.
87 $22,82^,000
36 21,820,000
35 21,178,000
85 21.278.000
34 19,858,000
38 18.558.000
33 18,658.000
33 18.558,0i>0
88 17.608.000
S3 17.204,700
88 16,116,200
. IHtidem
Amount.
$1,385,675
1.772,925
1.121.000
1.706,310
1,442.260
911,850
1.420.870
1,850,700
1,696,040
1.427.9J0
1.047,550
P.O.
6-ia
18»5
8ia
1894
1893 ,
5-25
8 08
1892
1*91 ^.„
1890
7-58
4-98
7-68
1899 „
1888
9-97
9'63
1887 ...^
1886
8-30
6-50
The foregoing indicatea that the shareholders ia the Fall
River mills have received a poorer return on tbeir i3v.-gtmsat
tbia year than at any time since 18:M, only ezcapiiag 1891
and 1894.
Aa showing the relation this year's dividends in the case of
individual milU bear to tboae for a series of years, w-i have
prepared the following, which embraoas niaeteea of the lead*
iog corporations. The intention is to ompare this yeir'a
ratio with the average rate per cent for tbe previous nine
yean:
UM. ues. i8»i. isat. isn.
18»1.
18M.
1S8».
ISSS.
1897.
Aetnw
SVM.
Amar. LUMuCo... tM
T
4
TK
TH
U
MX
ISH
•)4
Baniabr Mfg. Co
....
iW
a
»«
«M
«
8H
S
Border CrM ((.Co. 7
»T«
7
u
•
11
It
u
CbMia MUli V)i
«
•
7«
*H
s
8
«7-»
OloberamMIUa.. SM
»M
a
•
8
7)4
Oranlta IttlU T
«4
6
10
IS
tt
za
IS
klDcPblllp VlUla. •
«
6
•
«
« t-»
I.aurel Lake MIIU. S\4
BH
rn
««
10)4
1«
»M
7 !■»
Mocbaalo- MIIU... 7
•V
t
■m
....
s«
7)4
»H
BH
Marchaau' M((.''o S
«
B
10
7)4
7)4
NarracaaiaU MIIU 614
5
7W
s
•
«71t
Oib.>ra MIIU 7
7
8
«
<
• «-•
a.Bord«aMte.Oo. t<4
»H
7
««
8
»H
S
Bamwaa M(«. Co. B
IS
•M
10
«*«
7X
10)4
1$
10 64
RtaawdMlIU 8
T
1«
7H
«
«
8I-*
Tamsaah MUU .. SM
•«
S
7H
«w
to
8
7 1-W
TrarCaW.Mte.OotS
«s
17
to
M
to
18
Da.Oot.ltfi.Oa.. B
11
•
u
u
SO
SO
UM
1 Wampaae^i MIIU. T
•
T
1
•H
17
11)4
U
B»«
Tbe foregoing indicatea that four mills out of tbe nineteen
represented in the table have made a better return this year
on the capital invested than was the case on the average in the
preceding nine yeara. If, however, we shoald maiie ihe
oompariaon cover only tbe yeara since 1890 it would be found
that in aaraa inatanoea thia year's rate of distribuiion has been
greater than waa the average for the sis years 1890- 1895.
Jamuabt 9, 1897,J
THE CHRONICLE.
67
MERCANTILE FAILURES IN THE UNITED STATES AND CANADA IN 1896.
PBEPARED BY MESSRS. B. O. DUN A CO.
COnniERCIAL FAILVBES.
CLASSIFIED rAILVRES, 1896.
TOTAl, 1896.
Total, 1895.
Masufactckino.
Tradihg.
OTHBRCOii'L. 1
Banxtno.
BTATBS.
So.
AtteU.
LiabUUie$.
So. Lialnlitie*.
So.
lAabUUia.
So.
lAaHlitia.
So.
LiabmtieM.
So.
LUOMitiu.
Maine
H. Hampshire...
Vermont
JIassaohusetta..
Conneotlont
Khode Islitnd...
289
90
68
881
296
125
9.
1,393,380
1,169,167
161,237
8,738,546
1,249,546
956,998
2.311.069
1,982.497
373,711
16,107,829
2."19J,320
2,721,020
188
58
36
567
254
202
i 1
1,257.858,
405.644
145,300
10,942,638
2.442,9801
3.771.397
66
20
11
299
85
41
$
1,114,481
1,460,027
105,800
9,044,924
1,013.077
1,226,876
224
61
57
563
204
79
$
1,163,288
522,470
267,911
6,898.372
1,039,071
1.148.410
9
19
7
6
33,300
164.633
47,172
345,734
1
"i
1
64,408
350,666
180,000
New England
1895
1894
Kew York
Hew Jersey —
Fennsylvanla...
1,749
1,305
1,607
2.173
193
1,549
13,669,174
7,476.441
9,889,410
20,134,303
2.205,719
14,768,146
25,."i95.446
18,965.817
22.1^60,292
48,632,142
3,204,680
23,6l-.i,596
1,305
1.940
182
1.349
18,965,817
45.225.534
3.613.484
11,739.947
521
459
452
740
86
490
13,965.185
10.538.701
10.499,011
25,126.243
2.239.557
10,780,993
1,188
813
1,140
1,383
106
1,025
11.039.522
7,649,549
12,014,956
18,540.581
964,623
11,886,903
40
33
15
50
1
34
590,739
777,567
346,325
2,965,318
500
944,700
3
6
1
10
"7
17
10
15
"2
3
"i
1
4
"i
4
2
3
484,408
1,817,538
125,000
2,154,116
l,456"66o
Middle
1895
1894
Maryland
Delaware
D. of Columbia.
Virginia
West Virginia...
North Carolina.
South Carolina.
Florida ....
3.915
3,471
3,621
319
57
79
337
78
79
76
75
228
123
141
233
252
327
47,108,168
3J,182,888
31,337,202
2,979,149
289,310
1,197,272
1.954,494
849,2U0
54H,894
690.774
389,050
3,888.481
464,364
571,680
3.693.944
2.01^,570
4.565,076
73,449,418
60.577,969
55,895,049
4.688.317
641.100
1.165.615
3,153,110
1.064.226
671.305
973,953
515.200
4.741,333
940,454
789,735
3.931,448
2.79 7.203
5.025,394
3,471
299
68
305
69
103
102
136
214
140
115
199
273
274
60,877.969
3,279.124
460,100
713,609
2.929.414
691,324
1.231.747;
1.263,903
1.741,550
S.049.383
1,320.250
935.3401
3,876,0811
2,646.632 j
3,042.045!
1,316
090
1,160
137
8
12
42
18
9
7
6
30
8
7
26
34
49
38,146.793
33.014.442
26.415.912
2.828.928
131.600
226.151
1,001,200
501,300
233,300
286.000
90.000
2.514
2.432
2.399
173
48
62
276
57
69
66
68
31.392.107
25,596.441
26.415,735
1,749,034
464,500
823,261
1,415,133
521,426
416,005
497.753
423,200
2.270.633
777.954
720.U85
2.651,019
2,025,793
2.367,054
85
49
72
9
1
5
19
3
1
3
1
6
"3
3
9
3,910,518
1,967,086
3.065,402
110,956
25.000
116.203
736.777
41.500
2.000
190,200
2,000
247,800
264.730
76,250
124,851
3,604,116
3,392,618
7,463,734
'i9',36s
75,000
243,6'00
17,000
2,222.900 192
171..'i00 115
68,750 134
1,015,699 204
605,160 215
2,533,480 269
613,866
Alabama
Mississippi
Louisiana
Tennessee
Kentnoky
125,600
3.187,266
•.!7,000
415,000
■onth
" 1895
" 1894
Texas
2,404
2,354
2,625
186
751
528
24,095,C59
19,703.921
25,454,259
1,779,775
6.395.153
5,164.30tj
31.107,993
26,18«.502
31,230,544
2,09-.,802
10,4S6.435
6,362,162
2.355
164
551
421
26,180,502'
1,046,700
4.949.406
4,349,082
393
275
303
18
29
65
~ri2
66
74
369
76
36
313
52
12,025,977
7.136,160
0.860,361
288,059
79i,000
2,639,029
1.948
2.055
2.304
165
716
454
17,143,750
18.233.191
19.450.990
1.733.720
9.396.435
3.503.733
63
35
28
3
6
1,938.2K6
811,151
1.919.193
74.023
298.000
219.400
22
11
12
2
6
6
4,722,830
2,374,368
035,264
195,000
3,448,223
Mlwwuri
1,435,000
■oothwest ...
" 1895
•• 1894
Ohio
1,465
1,126
1,055
873
324
153
1,130
857
2,837
2.311
2,133
345
408
180
235
23
40
56
8
16
98
20
13,339.236
8.098.908
7.024,432
11.218,873
3,113,057
10,907,785
18.848.179
6.40J.267
18,044.399
10.345.188
9,082,680
12,389,602
3,906,426
8,473.037
22,191.489
7,334.953
1,126
718
242
172
856
323
10,345,188
10,043,789
2.047.351
•4.565.748
14,198.N87
3.944,530
3,719,088
1,677,505
1,211,387
7,718,270
1,854,944
6,682,465
9.266.572
1.183.300
1,335
1,058
970
593
242
ll6
798
208
14,633.888
8.665,683
7.716,093
4.508,812
1,912,482
2.482,139
7.901,117
2.108,153
18
2
11
16
«
1
19
7
591.433
2,000
155,200
162,520
139,000
308,483
5.023.800
4,043,500
14
16
16
6
3
7
25
7
5,078,223
437.800
1.808,000
690,000
t ndlana
120.000
* Ichlgan
t lllnofs
839,126
16,681,9.34
558,280
Wisconsin
Central
1895
1991
C Innasota.
• wa
50.560,161
34.799,7t<6
24,663,608
4,593,472
2,687,003
919,625
1.023.6!J7
48,750
107.300
535.000
77,994
59,900
1,811,695
7,900
54.295.557
34,800,305
24,910,601
5,256.898
3,207,726
1,054.177
1,224.743
85,550
194,750
439.4O0
95.062
101.900
2,119,200
23,347
2,311
311
304
234
214
46
56
41
10
13
138
30
9
34,800,305
5,290,239
1.853.395
2.038.060
1,155.664
297.4->0
348.558
441.100
459.597
100.080
1,760,224
151,450
96,500
736
624
484
32
42
10
15
"i
8
1
4
11
2
25,705.551
17.448.067
11.425.671
975.736
512.700
83,000
120.775
20.606
13.000
25,000
75.000
634,800
600
2.052
1.746
1.613
295
360
170
220
23
30
63
7
12
86
18
18,912.703
16.391.288
12.285,410
2,823.859
2.449.326
1.021,177
1,094,968
85,550
174,750
426.400
70,062
36,900
1,677,400
22,847
49
41
36
18
6
'"i
9,677.303
1,062,950
1,109,620
1.457,303
245,700
■7,606
48
10
13
15
17
19
17
2
1
3
2
1
1
18,889.360
1,083,651
2,420,187
8,324,606
1,563,516
1,601,500
949.618
I » braska
klaboina
1 Ddian Territory
Montana
North Dakota...
South Dakota...
Colorado
Wyoming
NewMexloo
15,000
35,008
4,288.000
440.000
225,000
865,231
West
1,429
1,425
1,464
181
83
5
4
149
178
685
4
11,902,3261 13.802,753
12.650.345 13,092,317
15,328,566 16,912,979
378,049 739.753
195.950 442.500
38.670 63,840
10,796 17.400
1.722,742! 1,891,945
1.190.480; 1,664.402
1.939,289 4.068.li6
6.200| 13,803
1.426
167
86
2
1
160
216
57S
13,992,317
681.658
386.025
37,500
8,091
1,879,078
1,768,511
3,883,099
121
i3e
148
20
12
■"87
31
110
3,319,511
3,623,467
4,650,687
154,600
187,100
1.2«3
1,268
1,300
158
66
5
9,773,239
9,823,639
9,002.202
578.003
247,800
63,340
17,400
974.779
1.120.123
3,136.163
13,303
26
19
16
3
6
■"6
7
18
1,710,003
1,545,211
3.260,090
7,160
7,600
'**
38.306
21.800
93,261
78
59
41
3
■'16
1
2
1
16.297,470
8,559.774
9,800.667
326.000
" 1895
1894
Dtah
Idaho
Arizona
Nevada
V asUufCton
> • e ijon
878,8t!6 107
522 479 'An
505.000
8,000
700,000
16,000
J > lilornia
Alaska
838,701
648
4
Paelflo
1895
1894
1,289
1,204
1,380
6,477,176 8,901.268
6,109.J46 8.333.962
7,553.659 12.100.711
1,201
8.333,962
210
183
231
2,581,746
1,4S3,731
3.300,746
1,032
1,009
1.114
6.151.411
0,446,631
7,766.745
38
12
35
168.111
403,600
1,033,220
16
21
27
1,643,000
3.044,478
3,124,203
Aggregate....
1896
1S94
15,088
13,197
13,885
166,151,5"0 226,096,S34
121.021.535 173.1!)6,060
121.251,136172,99^,856
13,197
173,196,060
3,418
2,635
2,832
98,463,851
73,920.073
67.363,77.i
11,352
10,381
10,840
109,046,620; 318
92,706.422| 181
94,652,13l| 213
18,586,363
6,589,565
10,976,950
198
132
125
50.718,015
20.710.210
25.666,085
D am. ot Canada.
1895
" 1894
Newfoundland..
1895
2.118
1,891
1,856
22
49
12,656.837
11.500.242
13.510,056
77,707
789,463
17,169.683
15,802.989
17,616,318
122,053
1,317.130
....
690
441
404
2
1
5.692.977
6,872.502
6.808,385
10.500
68,039
1,503
1,439
1,345
20
41
11,381,482 25
9,788,932 11
11,436,258 17
111,553 ....
1,227,171 1
95,224
141,666
281,672
■2i',026
3
7
6
212,000
613,000
876.814
Oloarlu^it b/ reie<r4pti.— iatet -d Stookg, Boads, Ac—
Stojk Ecchinge Clearta;-!! lane Traa^actioaa.— The sub-
joiae 1 atatemeac, corering the cleariags for the curreat week,
asually appeari on the Oret page of the Chronicle, but
on, account of the length of the other tables is crowded out
once a month. Tbe figures are received by telegraph from
the leading cities. Ic will h'i observed that as compared with
the correapooding week of 1898 there is aa increase in the ag-
gregate of 9-0 p°r cent. So far aa the individual cities are
concerned New York ezhiQiti an increase of 18'4 per cent, and
the gains at other points are : B Mton, 20'5 per cent, Philadel-
phia, 4-6 per cent ; St, Louis, 20'6 psr cent ; New Orleans, 2*4
per cent, and Baltimore, 38*8 per cent. Chicago records a lorn
of 14-5 per cent,
OLaiB.icas.
Wtik EnMng January S
[UVunu b% TiUfrapK,
1897.
1896.
$509,183,754
73,708,885
69,019,917
12,422,610
82,877,764
22,865,770 '
10,314,866
P»f Oaat.
H»w York
Boston ............ ............
$603,978,899
88,S26,453
61,718,480
16,003,614
70,851.834
27,679,066
10,561.667
+18-4
+ 20-5
Philadelphia „ „ ...
+4-6
3altl]uors ....•..••....•....•••
+28-8
-14-5
+20-6
New Orleans ......
+»•*
Seven oltles, 6 days
$878,618,892
147,294,618
$770,393,466
146,013,271
$916,406,727
181,339,389
+14-0
+1-6
Total all oltles, 6 days....
lU Oltles, 1 day
81,025,813,610
170,019,368
+121
-6-2
Total all oltles tor week. .
$1,196,832,778
1 $1,096,746,016
■t*
THB CHRONICLE.
[Vou LXIV.
UMatum.
of Ml' rinK-Hou»«
ttam I>MWiiiTnr 11. down r. January
■ Xia. It* Ma'»M»"* 'Of J'Uiu^rj' to i)n,-«iiii>^r, iqcIuutc,, io
I oucan* ■»«•■ ratnAOTiom.
M.TMLOM l.«M.tM
>4.«M
IJOI.IOO
l.»»i.SM
OaM. Ot»ar» 4
fuTMSSM CM4.«
tM,taiMM
UT,MO.0M
li4.tan.4oa
iir — —
tM.aoa.ww ija.too
M.«M.7«0 t.ti«.M«,Men»M.*N
tltM.M* i.ia,e«o
•i,oo*,eoo
tj»t,»oo
UMlIM
U««.«>0
MU.IW
lMi.«>l>
I.4»«.»00
.•»».IO0
MMOO
as."
ft•oal«oo i.Ma,ioo
|go,«W
••.•0A.0OO
i«r.iae.ooo __
W.OOO.M* I.Ma.MO
MtOO.OOO LMMOO
««.»0a,OM t.4»T.*00
ItM 4.000 1,MM0*
M.a«0.O0« |JU(,&00
•.t9«
Mit
•.M*
•.tM
»•»!
(.Ml
••!!•
«.TV
i.mi
1.IM
•.87»
t.a;(
a.tai
a.sti
a.4»i
t:»
•.tor
•••••
MSB
t.l71
a.M*
a.ti9
e.J7a
Tav . . ivrjMUM tvr»T.tn,w»
IMT-
JMl 4.. 4M,*M
- ».. Wi.lM
•• •.. «ta.io«
*• T.. ft) •.900
" •.. S7S.OO0
IMair«<«<.
S4,MO,000
SI.70 ,000
•7.'i00.000
•M.«k. S.1M.700 IM.000.000
VMMm«.lS5.100 14».4M,0OO
•(.laMoa i.u»io.o«o ir.Mt.ta* nL'ii
ttlamf, om aid*. . ah—tt
tkam. YmltuMurtt. OatK.CUart*
9 •
•0,100 3.900.000 Sa.TOO
44.900 2.600,000 80,000
49.000 v.ftoo.uoo lii.aoo
59.300 a.oOO.OOU 86,700
60.000 8,300,000 38. 200
298
273
9<)0
aus
300
3»J,»00 I4,)00,0O<> 303,1'K)
446,900 93.900,000 463,600
1.487
1,87*
FAlLVRkS B¥ BRANCHES OF TRADE.
tkc foUoarUiK i* 9 t««or<l of the failures for th« Uat three
y«9C9 b7 brasehM of trad* m compiled by Col. W. M. Qros-
' for R. n. Dan ft Oo.
rAiLcsa aTATiano* ar aaAiicBaa or amuiBaa.
*,u«.«6t
Maa;OM
l.Slft.Z7«
a,<)>M,X7&
«.TI>.UM
i.»oa,o»ii
l,70',0<3
l,Hi>;.(»«
l,7(r,> m^
7,011 1.S' I
No.
tow
M
41
311
aio
*a
1S(
UaltUUtm.
Z,6««.tUII
S.t3t,V7%
».Mr7.&6N
s,aavM>
1,»»4,3.18
I..'i;:i.i2u
tfii g7.](U.:76
[From onr own oorreapondent.]
LoRDOR. IBCBSDAY, Deoember 34th. 18M.
The WMk, which hw oonaiaced of bat four working day*,
haa been a quiet one tn all the gt«»t wholeaale market*
Ihroof bout the oouotry. Heiub«rs of the Sx>ck Eiob&nge
baToapent their time verr largely in playiog practical joket
upon DIM another, and the general aspect of markets is of a
purely holiday character.
The day following Christmas Day is observed throughout
England as a public holiday, all the stock exchanges and
banks and the principal business houses beioi{ closed; but as
the settlement will commence on Monday next, members
will hare to oome back to town to arrange the oontangoes.
The account, however, has been a very lixht one. and the
settlement is not expected lo offer any difficulty.
With the near approach of the turn of the year there ha*
been a good demand for money, and borrowers even with the
highest credit have had in some cases to go to the Bink of
Bagland and pay the full official rate of 4 per cent. Open
market rates varied from 3fi to 3^X P^f cent for day-today
aooommodation, while the rate of discount for three months
bills is about equal to the latter figure. For long-dated paper,
howoTer, the rate asked is a full point below Bank rate, pro-
vided that the paper bear* a itame of unqueationable stand-
ing. Although it is now seen that we cannot expect gold
from your side as soon as had been until recently looked for,
nevertbele-s ic is generally felt that the gold will come early
in the ensuing year. The only serious demand likely to come
apon the London market in the near future is that from
India, and it is not thought that this demand will be very
large. Consequently cheaper money is looked for all through
the early months of next year.
Surprisingly little effect was produced by ths aotioa of the
Senatorial Committee in the Cuba affair. Pricaa fell heavily,
it ia true, en Saturday morning, when the decision of the
cammittee became known, but they recovered during the
aame morning, the general impression being that inasmuch
as Preaideat Cleveland's Administration terminates on Mirch
4, no aotioa will be taken until the new Administration come*
into power. Moreover, altliougb of course immense quanti-
ties of bonds and American securities of ona kind and
another are held in this oountry, there has not been for some
years past now any active speculation in these securities, and
consequently there is praoUcally no account of importance
open.
The prospect* for the new year in the stock market* are
regarded as exceedingly good, but, as I said last week, the
impresaion grows that we must have a real recovery in the
South Atrio 10 dipirtmaat bjford business on tha Stock fiz-
ahangecan beoo.'nj reilly active. The attitude of the Trans-
▼aal Gk>vernment toward the mining industry is growing
inoreaaingly benevolent, President Kramer appa'eatly b -ing
inclined to do every thing in his power to improve the rela-
tions between the two white races in the Traisvaal. It is a
notable fact, moreover, that the arrival this we^k of Mr.
Robinson and Mr, Barnato at the Cips has been followed by
buying of South African securities in London upon colonial
account. The argument, therefore, is thit early in ths new
year we may look for improved business in tiis section ; and
onoe this mirket beoomes active the generil impresjioa ii
that the activity will spread. During tha year now closing
activity his practically been confined to hooae inda<triil
s(H;urities, including of course tha issues of the great railway
companies.
Motor oars owned by priv ate individuals and driven as pri-
vate carriages are to be seen every day in the principal
thoroughfare*, especially in the West Bad. Experim^ats
have bean mide with* motorotr osaaibus, and th> trial trip
was very successful ; but no vehicle of this kind has yet
started to run regularly between any two given points Qreat
interest is felt here as to th<) possiole develop menu of this
means of iooomotion. To prevent noise the priacipil streets
i 1 London are paved either with asphalt or wood, and ia wet
wAHther these roads become very slippery for the hor«es ; the
mortality oonsequently is very grea'. Oa humtnitirian
principle*, therefore, many people woald be glad to see the
Lon Ion omnibus driven by motor-car power, a* the horiea
which draw these Tehioles at present are worn out in a littla
^ *!!l over thres year*. A company has been formed for tha con-
luann-
llln-rr
* irftno*
Janoabt 9, 1»»7.]
THE CHRONICLE.
69
atruction of the machiaes, but as yet they can hardly be re-
garded as ontside the exparimental sta^e.
The traffic returns of the Maachestsr Ship Cinal show an
increase of somewhat over 3o,000 tons la the sea-going traf-
fic for the month of November last as compared with Novem-
ber of 1895. The total traffic for the eleven months shiws
the sea-going tonnage of 1,357,000 tons, and it ij anticipited
that by the end of the year the traffic will amount to IJ^
million tons. Unfortunately this traffic is obtained at so lo f
a rate of freight that the undertaking during the three years
of its existence has been financially a ghastly failure. Ic was
estimated when the canal was built that the tonnage during
the first year would amount to 3 millions; at the end of the
third year's working, however, it will be seen that the result
is only half that amount. For some time past there has been
very considerable dissatisfaction with the management of
the canal, and it isj hoped that Jvery material changes in the
p?rsonnel will be made when the present managing director
retiree in January.
The following return shows the position of the Bank of
Bngland, the Bank rate of disoovint, the price of oonsols, &o. ,
oompared with the last three years
18M.
Die. »}.
£
tB.51l.980
ise&.
Decti.
£
26.274.490
OlroolaioQ
rabUe dapoiiu. H,U«.8S1 tf,45l.241
Other depoilU 4l.4««.8t8 48,407.081
OOTwamenlMOartdM 13.752,B«8 U93«.ai9
Other •eourltlM i«iS48,M3 M.<)lS,70a
BtMrre of aotei and <lo 24.0iI7,717 34.1S8.131
eoln&baUlon.bothdeputm'U S3.809.727 43.e]2.3'21
Prop.reserra u> lUbllltlM . . p. a. tSH 68 IS-IS
••nkrata peroent 4 2
OoDMli. 2M par emt 110 IS-16 lOflH
atlT«r 301. »07-l«d.
Otavliu-HoaM retnnu lSiJ)O2,0OO 1U,0>0.000
The rates for money have been as follows
1894.
£
2«.>17tf.480
4.2I7.2S0
a2.n20.a29
12.783.181
13,483,384
23,«70,99j
32,517,473
«SB-1«
S
103 7-18
»7 7-161.
8i,M«,000
1893.
D€C. 27.
£
26.4S1.216
4.4^3,979
2il,2Sl,8l7
8,8j7,612
S7,2Sj.gai
15.4')7.2i7
24,l8-i.81»
46 1t-I«
3
98 1-18
SlMd.
8<.8d8,0«0
K
Oun ItaTktt HtM.
Iiturmaaom*
Ciimim
BamMBIUt.
JradtBUU,
Joint
Stock
Dttc't Bu
1
TVm
Tour sue
Thru
tour
81a
At
71oU
MonUu
Uantlu HtmXtit
Mmthi
Mmtlu
MonthM
Sanlu.
CaU.
Daya.
Hot. 97
•
XM
8
SM
3«(»S«
iH
»H
3X
SM. i
*
tTi
>M
»H
*M
9H
*it
•*H
m
•' 11
a asM
nt
tn
tn
«X
»H
8M
'-i^
*H
- 18
SMM
SHas^ 3
3N«4
SN
an
»H
3
»H
- 23
i««»K
8»49-ie a«3Ml 3K
3H*3H
nt»iH
*^
3
3«<
• SN»< ;-lS * 2M«2 16-18
The Bank rate of disoount and open market rates at the
chief Continental oities have been as follows:
Batu of
Inttntt at
r»rt«
Barlla.
EUmborK
rruikCnrt.
▲mitardam....
Bnuuli.
▼I«DI1«
•t. Peterabarg.
Madrid
Oopanhnaon . .
Bank
Rat4.
I
6
6
6
8M
•
t
t
4
OpM
Harlul
IW
4K
<M
««i
tM
«M
4
4
Dtt. 18.
Bank
natt.
2
6
6
6
*M
S
t
«
6
4
Marktl
m.
Hi
6
6
M<
tM
4
6M
4
Dm. 11.
Bank
Batt
1
»
B
i
•
4
6
•
4
Op«n
Marlul
IM
4M
<M
4H
s
2M
■N
»M
4
4
Dee. 4.
Bank
Rati.
3
B
6
6
•M
t
4
8
6
Op«n
Mark«<
»!«
4
4
The quotations for bullion are reported as follows:
Gold.
London Standard.
Dee,
23.
(. d.
.01. 77 H
Bar gold, floe oi.'77 11
Bu gold, partlng.oz. 77 1 1 >«
■jnusli. old oi. 76 0>9
Hew 01.76 m
n. B. KOid coin. . .oi. 76 5>a
Q«mi'ngoldoolD.oi. 76 3%
rreDOhKoldaoln.oz.l76 3\
Dee.
17.
«. d.
77 11 '4
7711*1
76 l"!
76 2>«
76 7'i
76 3\
76 3h
Silver.
London Standard.
Bar Rllver, fln«. . .ox.
Bar illTer, oontaln'g
do 9 gn. KoM .02.
do 4, gn. gold uz.
do 3 gn. gold.oz.
Cake allver oz.
Mazloan doUan oz
Dee.
23.
30
30 Id
306,g
30 m
32^
29%
Dee.
17.
d.
30
301s
ao'v,,
301s
2914
Meosrs. Pixley & Abell write as follows under date of Dec-
ember 23 :
Gold— There U praotlcallr no dlmlontlon In the demand, and all
arrlTal* have melwlib reudr sale forthe Oootlaent and lodia. The
Bank has reoelTed *i5,0\)0 la toTarelKni. Arrlvalit: South Africa,
«89,Oi<U; hirer Plate, £76,000. HblpmeDis: Bombay, £25,000;
Madraa, It.SOO; Oalcuita, £12,<)0«; total, £.43.^00.
■ilrer-Sllver receded to 297|id. on the 18th, and after remnlnlng
without alleratlou until to-da5 baa axaln hardened to 3ud. 8>i|>pllea
h»Te not bi-en large. Arrivals: New Yor«, £07,1100. Shiinueoto:
BnniliaT. £1S8,30U; Hong Kang, £B,000: Ualoulta, £10,;iO(.'; total,
£173,6(jO.
Mexican Dollara— The market haa hardlj been so good for these
ooln and 29>8>l. Is the neareac price. Arrivals: Sew York, £38,000.
ehlpraents: Peuaog, £lO,iOOi Hlugapore, £5,300; Hong Song, £2,000;
total, £17,800.
The following Shows the imports of oereal produce into
the United Kingdom during the first sixteen weeks of the new
MaaoD oompared with preTious aeaaozu :
IHPOKTS.
1896. 1895. 1894.
Import8ofwheat,owt.21,795,030 22.384,560 20,827,128
Barlev 9,695,470 10,052,330 11,730,883
Oala 6,853,130 4,595.940 4,974,488
I«W 1,426,295 995,330 847,281
Beans 1,094,050 l,2't3,810 1,479,162
Qtdlanoora 19,565,600 13,197,780 0,9-»»,432
(lour 6,940,530 6,238,480 6,294,102
Supplies available for consumption (exclusive of
September 1) :
1896. 1895. 1894.
Wheatimported.owt.21,795,030 22,381,560 20,82", 1?8
Imports of flour 6,940,530 6,238,480 6,-^94,102
Ules of boue-grown. 9,600,000 5,078,153 6,912,577
Total.
...33,335,560 33,701,193 34,033,807
1895.
258. Id.
218. 7d.
1894.
208. lOd.
19s. 5d.
1896.
Aver. price wheat, week.3l8. 3d.
Average price, season . . 27s . 7d.
The following shows the guantities of wheat,
maize afloat to the United Kingdom :
TJti* teeek. Last week.
Vheat qrs.
noor, equal to qrs .
52,930,000^ 2-|«i;000
885,000
830,000
1895.
2,028,000
31c),000
623,000
1893
20,365,909
11,S70,245
4,652,320
890,696
1,532,117
8,901.604
6,598,473
stocks on -
1893
20.36.'5,909
6,598,473
8,193,635
35,158,037
1U93.
268. 9d.
278. Od.
flour and
1894.
2,436,000
302,000
395,000
BoKllah Financial ITIarketa— Per Cable.
The daily olosing quotations for securities, Ao., at London
are reported by cable as follows for the week ending Jan. 8 :
LOMOOK.
Silver, per ounce d.
Oinisols., new, 2\ p.cts.
For account
Pr'obreate.tdnParisltr.
Ateb. Top. A, Santa Fe.
Do do pref.
Qaaadlan Paoiao.......
doesapeake A Otiio
Ohio. UUw. A at. Paul
Oenv. A Rio Gr., pref..
Brie, common
Ist preferred
nitnois Central
Lake Shore
UttilsvlUe A NaabvlUe.
Mexican Central, 4s . . .
Mo. Kan. A Tex., com..
K. Y. Oeiifl & Hudson
(t. Y. Ontario A W'est'n
Norfolk A West'n, pref.
IfOrtbern Paolflo, pref.
' Do do prof.*
Pennsylvania
Phlla. it Read., per sb..
•qnth'n Railway, com..
Preferred
Qnlon Paolflo
Wl)a«h, preferred
291318
112
112
0247ig
143g
Sat.
Hon. Tuee. Wed. TKure. Fri.
57\
16%
75%
42%
15 19
3514
91I9
157
4938
703»
18 Is
9619
1518
1719
2319
S3ie
13%
919
26%
9»B
ISI9
2913,6
1111318
1121,9
102-50
I419
57%
16=8
75^
Xla78
15%
3514
94%
157
4958
x68%
13>9
9619
I514
17i»
2314
3319
53 14
1414
919
3719
914
161*
29%
11139
111 ■■Si
02-421-2
143g
2319
57%
16!>8
75
42Sg
15%
34%
94%
157
4878.
68I9
I319
H6I9
I5I4
17«9
333s
5319
13%
919
26>9
914
15%
29%
lll»,s
imV
U2'32i3
1458
24
5879
1679
7638
43
1533
as
97 1«
157
50 19
68%
135g
9719
I519
1719
33%
53 14
1379
959
2714
10
16%
29lli6
Ulilu
11179
102-45
145g
243s
5779
17%
7639
4279
1539
3514
95
157
5038
;68%
14%
96 '4
15%
17%
34%
53 U
14
9'9
27%
9^9
16%
2911,,
111"! 6
102-551
1459
24%
5739
18%
76%
43%
15%
35
95
50%
68%
14%
97
15%
17%
34%
53%
1379
9^9
27%
9%
16%
' Voting trust receipts.
(jlPommetctal and ^t3ccUatte0us ^eurs
tiOVKKNMKNT Rbvenub AND EXPENDITURES.— Through the
courtesy of the Secretary of the Treasury, we are enabled to
place before our readers to-day the details of Government
receiptM and disbursements for the month of Oioember. From
previous returns we obtain the llstnres for previous months,
and in that manner complete the statement for the calen-
dar years 1896 and 1893.
RRORtrTS (ODOa omitted).
I69«.
! 180..
Oue-
i»«^'' ii;2J:'M««'' lotai.
Ota.
/nt«T'i
FUnd. S'TCU
Total.
(oma.
•
Btv'ut
Fund. S'TCU
1 1
t
tonu.
Rev'uf
1 1 *
t
Jan.....
17.875
11.178
4.13 2391
81,878
17.608
9.11-
l,lf0 1,875
29,698
r*b....
1S,90K
10.807
0«2 1.810
87.051
13,335
8.W50
213 693
23,101
lUrah.
13.844
ll,i>3«
811
1,181
8«.3«2
14,98(1
9,865
514{ 888
25.986
4»nl...
11.2(W
11.202
178
2.083
84,720
18,809
11.010
788 2,467
2H.843
Stay...
10.960
11,660
936
731
23,469
1 12,47.'^
10,751
414 2,043
86,686
Jnna...
11,382
18.352
1.814
8.090
S9,ll«
12,130
11,811
8H3
1.674
25,908
inly...
12.167
14.S"3
850
2.689
89,3ut<
j 14.0; 7
12.898
lis
2,01)4
20,281
*n« ..
12.330
ll.UOl
23
1,871
85,68.
' 16.a:<9i 12,172
^ 856
1,112
29.309
tapu... U,374
11.879
68
1.531
24.860
1 14.054
13.280
47(1
630
28.086
Oct.... 11,2^1
18,476
89
lJ.63f'
27.»t;l
11,347
13,-81
487
1,810
30,908
Hot.... 9.980
18,106
»S(i
2.175
ae.ias
11,489
13,040
610
1.491
'^6,698
Deo.... 10.779
18.199
1.222
1.879
27.07H ' 12,le0
12.761
862
1,369
!6,e51
IS mo«. 148.014
147.846
11.221
22.7rt«
322.34!^ 16S.428
138 292
6 883
17,770
327,351
oKBUiuaMSN-TH (OiHia (Muiited.)
18B«.
IS95.
OrM.
P»n-
„ N.Ws.
Total.
Or<M-
P«fl-
In-
N.Bk
lUd'V-
lotal.
nary.
1
«40fU.
terat. Funa
nart;.
t
«lon<.
ttrat.
%
Fund.
(
%
*
t
1
Jan.....
16,183
9.967
6JWB
1,119
33,494
17,381
10.054
7.»8»
1,414
36,987
r»b....
18.1C4
18.817
8.868
1,103
27.85-^
11.796
12,380
1,521
1,859
27,055
Btareta..
14398
11,710
872
tu
28,18-
13.848
11,623
281
1,276
27.007
April...
18,7S0
10,078
6.141
684
89.88
16.4H4
11,986
5,520
i.im
84,080
May....
12.808
18.804
8,82u
1,116
89.64:
lS,liO(i
12,902
1,761
1,878
29,837
Jnna...
1^e8;
11,800
459
1,119
8«.*H..
11.181
10,804
29(1
1,289
22,918
JiUy...
82,87;
13,101
6,710
783
42,87
18,186
18,755
7,808
074
88,622
4ns...
80.sei8
12,S9f
8,938
482
86.1H
18.437
12,302
1.849
847
33,236
Bapt....
14.871
11,488
423
451
87.180
13.316
10,708
898
931
86,!55
Oct....
18.6-8
10.346
6,C33
461
3»42i
17.4.-i4
11,891
6,168
599
85,098
Not....
16.886
13,179
3,197
8H8
3i,UV
12.8ti5
12,235
2,099
1,099
88,298
Om..
11.893
11.431
468
800
lo.oon
21,702
374.685
14.126
178.257
11,367
140.107
882
.•)3.480
919
12.H11I
80,788
18 mot.
187,431
140,116
ST.l'S
88r,iiM
•^il^tR
IHE CHBONICLRI
fVOL. LXIV.
OanMBT hM fuT«j«hKd
0«iti of waHnwl Nuik
■ooati oaManding
4«ria( Mm anoatti i
haU to *• rwtomptioB of
•'«:»?
18.108
884J78
"i78.«8l
•l*.7«t.410
l.MS.e59
•t»,THjPT4
m n r-'-" - -' — — ' ***
o( iMKl laodanca
.„ of tb* OBtood SIMM to
•l9.Tat.0Ti. Tho portloo of
.,.„ ,., br bonk* b80oml«« laaoiTWt. d) by
lalB voteattMT liottidatioa. Md (8) by bkok*
' Ibiir oircuUUoo, waa m follow* oo tb*
BU^BI* AMO tlirOBT» Of «r»OI« 4T BBW TOBK.
•■I of (Mil of Ik* Im« Bt* I
i£l
<M.l.
•
•4.
4.884.017
~StJI iiri^ ts.«4iLn«tta.i*T;»T0|uu*i.Mi!i*.i4*.8i7
•JtSSr
'l8Sn^«T8
I8.8M,«»<'
Mm.t.
Ji^
•96.487
4.780,7*5
14.048.783
l%Jtt7jH» H.TOt.41* 19.736.074
Jmm.1.
> AM •( JaM Ml l«T4. MM Jalr U. 1888.
9tkrm Hanm.— Th* (oUowinK •<•(•-
«B br tte OiMolor of the Mint, ab-wt
MtteiaiMBOf tMOoitod a wt w daring th* mootb
m4 fw tb* ooteodar ywtr tSM.
tOi.
Jb9»«.
Imperil.
rao.
mm—Ja^l.
WmM.
MNM/aM.1.
OfMt BrtUla
rraoM
a«nnaBT
WmTimUm
•—tt 4'o>i»fl'a*"!I"
•13.089.780
8,857,541
87.003.506
1.048,690
63
t.850.417
83,000
•4.300
85.510
500
1.824
•4S,687.08«
8.l>43.498
in.991.91S
8.60e,8%8
384.888
1,398,007
97,438
Tntiim
»..
fl.678.042
4.4'^.^.338
•61.432.883
09,8i0.a36
4,454,036
•43.034
134.871
66.838
••a.8«a.6»T
36.859,484
23.868
tU—r.
Ja)M>rU.
Imperil.
W»4M.
MMa«/an.l.
Wttk.
•lnM/M.1.
gp;;::::::::
•■■It Aitiite*'."*
•MMOO
"M«3
•48,881.447
S.7S1,«8»
83,478
417.984
laslooi
8,771
•16
"a.oino
3,*S7
38,517
18
•18,398
8,618
1I,»S8
403.418
934.886
1.449.063
88,440
1M*I18*7
fi«»il8»«
tM»llB*a
•988.803
939.119
603,628
•63,713,428
89,523.838
501.608
•38.536 •3.917.686
37.886, 1.777.614
85.962' 54.S18
18*4.
— Slaaan. Bedosond, Kerr A Co. offer, in our advertising
doportniMit. • aalcotcd list of flrat and oon«olid*t«d mortgage
inTcatmenbi.
—Attention i* directed to the list of inrestment sacuriti*
ad Teriitpd in thig insii" by Meagr». Qoldmao. a%ctn A Co.
Aaetloa Halek^Among other seourities the following, not
cofoUrly dealt in at the Ebard, ware reoentlysold at auoiloa
By Maaan. Adrian H. Muller it Son:
83
•4S.0S6
4,ni.9«0
188J40
•olP^
1«JI6
4j«a.i«»
I.700.SM 1.700460
•«8.S5«I 484.ia»
i.0M.3M>; n»fin
1.005.S08, IO«.8St
4.T00.06*
ISiSn
4.70«.S8»
•.••1.988
••.OSI
S*.8S«
103.387
rear 1890.
Tmlmt
t.lS0.&88
MO,oa«
•I4.S03
4S.»s:,Tao
8.000,980
1,071315
48,005
MS0.861 47,062,560
l*470.78t
SA16,710
6^8301
8.186318
>1.6S63»1
•38«,IM
Sa.7614«S
19376.762
l.»«6.700
818.582
Sharm.
Importara' A Trader*'
Vat'l Bank S30><-5SS>*
lOnrU 4T<>. B'koCB'klTD.105
IS WftU Mat'lB'kofN. T...11S
3 rtru 4Ta. B'kotN.T.C 3.100
6 V. 8. rrantOo 1.180
60Bow«r7BaDk ..._ >39>*
S\ar*M.
50 Nat'l B«nk of N. 4 133
300 Obathsni Vat'l B'k39e>e to 387
85 AtUnCI* I'rastOo 183
10 Law7*rt' Title loi. Co. .,161
Bondt.
•5,000 Da Bardelebun 0. A I.
Oo. ItU, 1910.. 78%
City lUllroAd gocmritie*— Brokers' Quotations.
Bid. Ask.
88.069.889
4%4.306
887,513
47337,41S| 811,819
*.T*9JH0I 7317.480' 83.093.755'70.984.378
AJiD Kxrom roa tab Week.— Th* following ar*
) tip or U at Maw York for the week ending for drr goods
•1 Mid for th* wo*k ending for g*nerAl meronandise
Job. t : also totals siao* th* bagltinlng of the first week in
l—B a r y.
I A* mnr tobk.
"-;:t
18«7.
•831 S^U,
••JBTMOW
•3.7»S3t7
8.104303
•103*«,I9*
•tO8.7l0380M44316.4M
"'^ •7<3T«3«»
»• *l*ll»l 11.7063— »»t'y.MO^ial»44V473367l<011.184.419
18^6.
•a3S1.707
••3M3S6
Ci:"
3380 M
1.900387
laoA
•1.808.630
8,758346
4llaa. At*.. B'klra—
0*a. »*,•., 19II..AAO
!■»(. f*. c„ 19I4..JAJ
•laak. at. A ^uLF—OU.
Itt nort., 7«, 1900. J AJ
Breo<lra BapM Traaitt.
a'war ATth AT*.-8toek.
lit mon..»(. 1904. JAD
Id mert.,»«,1914.JAJ
•■war l*V,5«.saar.l934
Sd f^lat-aa ranfl.1906
Oaaao . S«,194S...JAD
Sraekiya Ottr-Otoak....!
OonaoL ••.1941.. .J AJ
Bklra.OroMt'nS«. 1908
Bkl'B.Q'a>Oo.A8ab.lit
Skl7B.O.AM-wf«ii-HU
It, 1989
Oaatral Oroaatowa— Stk . j
lal U..U, 19S«...MAIf
0aB.Pk.KAK.RlT.-8tk.
Oeaaol. 7a. 1901.. .JAD
Oblambni A Sth At*. •«.
Okrlat*p'r A 10th Sk-BU.
lit aort.,I898...AAO
107
80
31
108
1103
77
30
1105 ,
18>«' 19
193 300
ilOt
106
112
104
117
111
IIB
loa
117>«
17*>, ITS'*
lU ,1U>«
101 lies
100 IIOS
160 ' I
|107'«110<i
200
110
160
IIOS
ISO
110>« .
116'. 117
ISO I ISS
102 I
D. D. B. B. A Baf-Stk.
lat. (Old. 6*. 19Sa.JAD
Beilp
■Ifbto ATaana— Stook...
Sorlp, 8a. x914
43d A Or. St. irar Btook
48d St. Man. A 8t.N. At.
Ut mort. 6*. 1910.1(A8
8d moru tnoome 8a. J AJ
Lax.ATa.APaT.Psnr 6a.
MatropoUtan Traction...
Ninth Avanaa— Stook...
Baoond ATanaa— Staok..
, latmort.,6a,1909.1<AM
Dabantora Ba. 1909 J AJ
ISlxtb ATanna— Btook....
iThlid ATanna— Staok...
' lat mort.. 6a, 19S7.JAJ
Twanty-Thlrd St.— 8t'k.
Dab. •*. 1908
Union Br— Btook
I«t6t,1943
Waatdhaat'i. lit.(s..Ba.
Bid.
180
113
1100
320
110
330
jiis"
5S
116^
110
IBS
138
106
102
193
1B9
131
800
163
108
SSS
118%
835
55
60
117
111
144
109
104
108
103
1101 >i
il01>«10S
I Aa4 aaa r aa d talaraat.
9«8 gocBrltleo— Brokers' Quotations.
•AB OOMPANIB8.
B'kljn Dnlaa Oaa-Btook.
Bond*
Oaatral
Oaoanmara' (Jartar Oltr).
Baada
Bid.
{•raar Citr A Robokaa.
KalrepolltaB— Banda
Mataalfll. T
IT. f. ABan BIT. la* fa..
1381.475
. 17.874374
414300345
«oTK.-T*«als (laea Jaa. t •aaeryeafa 18*0, 1803. 1894 and II
TW IsBpovts of dry gooda for on* w**k Ut*r MU b* f oasd
IB ow Nfost oIUm dry good* tnd*.
Tfco M b M m t la » 8lBts>Biat of th* *spart* (*xolusiTe of
•BOOl*) Clraaa tka ftmt of Maw York to foroign porta for th*
I oadlBg.Jaa. 4 and from Janoary 1 to data :
BBvoan raoa nrv roaa to* r«8 waax.
lavT.
!•••
!•••. 1^*4.
iSa":;Si
J^j^^^
•S.1««3^B
£!i»^ .f^sir.
IBIMMwosJ
lfW«,74MM
BB4a.a^L*M
UmMMM •878.041.838
laa. I **«•■ yaai* M*«, I8»S. IS84 aad 1888.
•aporta Bad laaport* of apaol*
*^ "^ tti^ Jan. S and
pariods ia
T»o llanooiBB tobl* abowa Ifc* OBBorto ■
•I lb* port or Wow York to tko w«ok
rfaoo JaBBorr I. UM, aad to tbo oorra
w^^^w BBBW w^^^9 a
86
106 >a
16B
70
100
180
lOS
31B
103 >•
70
41
91<*
Aak. I SAS OOlCPAIflBa.
80
104
^Uaaabnrg fat 6a.. I!
rnlton Mnnlolpal 6a....
BODlubla..
22B
104
73
43 I
93 ■«
fionda, 8a. 1899
St. Pa*l
Boada, 6a.
Standard prat...... ...
OonuBOB. „....
Waatam aaa..._ ..
Bonda, 6a
Bid.)
170
103)*
106
189
lOB
54
79
176
196
68
83
103 Hi 1061*
80 >•
65
99
Spencer Trask & Co.,.
BANKERS,
• 7 * •• rtlfU BTKBBT, If BW TaKK.
65 ttau ttrtt, Albany.
^INVESTMENT SECURITIES.
Samuel D. Davis a Co.,
BANKERS,
NO. S« WALL ST., tfBW TORK.
SaBCBI. D. D4TU. Cbas. B. Vab Mobtbabs,
Oaoaea Baboiut Mov* at. ALSXAHoaa M. Wami M
Moffat a White;,
BANKEnb,
SOrilTBBTBBBT If BIW TaBK
INVESTMENT SECURITIES.
JAICUXBT 0, 1897.]
THE CHROISICLR
71
Xht jpawfeecs' ®a«ettje.
BITID BN OS.
Katne of Oomptmv.
Railroads (Steam).
Bnrl. CrA\T R%pld< dc Nona
O nt RK of N. J. (qiiar)
Or-at Nor h-^ro preC (qimr.) ...
LlttlxRohav kill .Vav.KK. < Coal
MID* Hill i a buylkiU naren.
BmUo'l, prof
Strert Rallcrara.
Oharlfslon (i O) oitj- Rr
Clcr A daburt). (Bi limora.Md.)-
OlAveland Bli'OtrIa
Orwwnt (nty KB. C. Orl..L» )..
Kl If^no. rraoc. (B'llrn. N. T.)
Mew on. CttT A. Laie (H.O , La.)
BauHa.
Twelfth Want
Fire Inaarance.
Commouweallb
Hannv-r
Paoltlo,
1laeeIIane*a«.
Con*.K.r. 8m« t. & Rrfg. prf (qr.)
Eqiilt'.Me 'ia»-I.Ubt N. Y.(qaar )
HeuflerMoo Urldtfe
Ma'ylnrd Coal pri*f —
Mutual Fu»l'a<*,CblotKO (quar.)
N. Y. Muiud t^a*-. littat
'• •■ •' (rxir«)....
K. Y. * N J. TWep. (quar)
'• •• " iextr»)
Staodard Qa« L.. N Y earn. (qi.).
•■ ■■ " prrf
8tet*on, J. R. oom. (anooal)..
• " pr» f
Cent.
3
1<«
1>4
3t
3%
1
3
2
\
3'
I
4*
6
4.
5
1\
8
8>a
3
; i
ri
si
Whtn
PayabU.
Feb. 1
Feb. 1
FeD. 1
Jta. IS
Tan. \t>
Jan. 3
Jan.
Jan.
Jan,
Jan.
Ian.
Jan.
Bookt eloted,
{Day inetutiwe.)
Jan. 16 to Jan. 24
Jan. 16 to Ian. 21
Jan. 22 to
to
to
to
ran. S
Feb. 1
Jan. 14
14 Jan.
5 Jan.
to
J in. 1
Jan. l.-S
Jan. 1
Jan. IS
On dem
On drm
On dem.
Jan. 6
Jan.
Jan.
Feb.
Jan.
Jan.
Jan.
Jan. 15
Jan. 11
Jan. IS
8 to Jao. 14
1 to Jan. 5
to Jan 10
Tan. 25
to
to Jan. 10
to Jan. 10
to
to
to
Jan. 3 to Jnn 19
Jan. 23 to Feb. 11
to Jao. 19
Jan. 1 to Jan. 11
Jao.
< Payable to minority (lockholden.
WALL, 8TKBST, FBIOAT, JAN. 8. ISST-A P. M.
The Mone7 Market and FlnanoiAl Sitnatlon.— Business
in Wall Siruet during the week now olo->iaK is somewhat
different frum that which preceded it in that it has been
leiw Hpeuuiative and mure of an investment character.
Naturally the large amount of funds distributed in the shape
of interest and dividends is seeking profitable investment
and the bond and stock markets are evidence that such is
the fact. Moreover it seems to be generally believed that
the worst results of bad legislation and bad bank manage-
ment are past for the time being, and therefore the future
is more promising.
There is also a better feeling in regard to investments
abroa I, and the disposition lo regard American securities
with more favor is undoubtedly inoreaaing there, A larger
demind fur foreign ezi-hange has caused an advance in
rates, hut t he supply which is known to be available is so
large that little or no attention is paid to the movement.
Among the most hopeful features of the w ek are the
reports of railway earnings from the West, and especially
the Southwest, sh >wing, as they do, a considerable increase in
traffic. Announcements of bank suspensions early in the
week caa-<ed onlv momentary uneasinesd. Reports from the
oities where important failures have occurred indicate
that the weak institutions are now well weeded out and that
no further trouble is expected.
The money market continues easy and without new
feature.
The open market rate* for call loans during the week on
■took and bond oollaterats have ranged from 1^ to 3 per
oent. To-day's rates on call were 1 ^ to 2 per cent. Prime
oommercial paper is quoted at S\{ to 4^ per cent.
The Bank of England weekly statement on Thursday
■ho wed an increase in bullion of £351,19:), and the percent-
age of reserve to liabilities was 44-9:^, against 44 23 last
week : the iliscount rate remains unchanxed at 4 per oent.
The Bank of Prance shows a decrease of 6,2?5,U00 franca in
gold and 2,150,i)ilU francs in silver.
rne Sew York City ('learing-Bouse banks in their statement
of Jan. 2 showed an morease in the reserve held of )3t4.0'K>
»nri M surplus over the required reserve of {33,286,950, against
I 84.3oO.BOU the previous week.
Posted rates of leading bankers follow:
Capital
flarpliu
Loaiu A dieo'nte,
Olroulatlnn
Vet depualta
flpeain
M<al tenden....
Bneerve neld....,
Lsifal reserve
■orploa reserve
1887.
J»H t.
60,772.700
'«.«"8,1 M)
491,37 .,9O0
n eoii.iijo
MO.?-.'",' 00
7 .342,300
89,64 .9 >0
6^,9-3.^00
I32,89e.29»
Diffitn'itnm
ertv. wmA.
Ine 3,7<'3.A00
Deo 9«.900
[nil. 4,947,80 I
Ueo. 429,700
IQO, 639,700
IDC. 214,no0
Ino .1,^36,990
33,286,990 Dec,l,022,990
1896,
Jan. 4.
1899.
Jan. 6.
• •
61,122,700 61,622,700
73,017,10<)I 72,02-<,i00
4' 9,^8fl,700 49.3,390.000
13,992,900 Il.to9.ln0
491.014,900
68,994,700
73,728,700
142,6'43,iOO
122,903,729
19,779,679
Sft/.St7,800
79,SH7.000
9S,207,000
174,074,000
U8,21 1,990
39,862.090
Foreign Bxehaage. — The foreign exohange market has
hardened as the week advanced, on a better demand for
bills. H-ites are higher, and it is reported that some invest-
ment exchange has oeen brought out.
To-day's aoiual rates of econaaga were as follows: Bankers
■Ixty days' sterling, 4»4J4tit,^; demand, 4 87(i4«i7)^;
oablee, 4 W%(a\ m%.
January 8,
Prime bankers' sterling bills on London. .
Prime oommerolal ..,.,,.........
Dooomentary oommerolal
Paris bankers' (franoe)
Amsterdam (guilders) bankers
Frankfort or Bremen (relclimarlu) b'kets
BUly Dav$.
t 8«>934 8^
4 83>4«4 SSI'
4 82is»4 SSVt
9 20 «91M>,„
40 «401,g
94''8»94 °,a
Dem€md.
4 87>a*4 88
9181899 17T..
«0i4a40H«
95T„«g5^
The following were the rates of domestic exohange on New
Yorfc at the uEder-mentioned oities to-day: Savannah, buying
1-18 discount, selling par ;Charleston, buying I 16 premium,
selling 1-16 discount ; New Orleans, hank, par; commercial,
fl S'*) discount ; Chicago, lOo. per |1,000 premium ; St, Louia,
par@25c. per $1,000 premium,
UnltiHl States Bonds. — Sales of Oovernment bonds at the
Board include $87,000 4s, coup., 1925, at 12 i^ to 120i< ;
$5,000 4s, coup., 1907, at Ul^ to ll\Ji ; $ 2,000 4s, reg.,
1907, at 110^ to 111, and $1,000 currency 6s at 108^. Tie
following are dosing quotations :
u, 1907..
4s, 1907...
4s, 1929...
4s, 1929...
9s. 1904...
6s, 1904...
6s, ear'oy,
•t, our'oy,
4s, (Uher.)
4s, (Clier.)
U, (Cher.)
4a, (Cher.)
Jrnn.
2.
• 99H
llCOi
•xUl
•120ie'
•120i«'
•114 I
•114
*10V\
♦I09!<i
•102 >«
•10214
•102 isl
•10314
Jan.
4,
~99i«
HODS
■'11
'120i«
* 12018
•114
•114
•102H
"1C9S
*102>i
"102'«
•102 >«
'102>t
Jan.
9.
' 99
•no\
Ills
*120
120 >•
•114
♦114
'\0i\
•10^ ■.
•102i«
•102's
•102 >•
•I0^i«
Jan.
6.
• 99<«
•noi«
•111
•12>
12014
•114
•114
•102\
109%
nont
■102 <«
•lO^i*
•10. »s
Jan.
7.
• 991*
•I10'«
Ill's
•120'«
1203b
•114
•114
lom
•lOi''.
•102»«
•102 !«
•102 >«
•I02i«
Jan.
8.
• 99%
111
•iim
•139^
120H
•114
•114
•102''t
•10^%
•103
•103
•103
•103
* TUs Is Che price bid at the mornlnc board, no tale was made.
United States Sob-Treasary.— The following table nhnira
the daily receipts and payments at the Sub-Treasury during
the week.
Dau.
Jsn. 3
4
" 9
" 6
" 7
" 8
Total
Reeeipu.
•
3,079,967
3,680,879
3,609,0 3
3,829,2f)8
3,294 6^8
4,167,799
21,617,3^0
PaymenU,
4.979,063
7,015,44(1
4,' 31,0. 6
4,900,423
3,139.401
3,336,99)1
26,997,911
Baia?vee».
Coin.
122,207,947
122 2t>l,43t
1J2,27P,477
l/'.2, 442,119
I22,.'>44,»89
122,992,016
Coin Oerft. Ourr*ney,
1,342,926
2,499,116
1,3<>J,>^I i
1, 98,i27
1.4^ ,2 9
1,677,767
96
9i,
91,
90,
iiO,
91,
•
299,994
79U.913
806,777
873,487
S 60,04 6
434,748
Coins.— Following are the current quotations in gold tot
coiae:
Boverstcns 94 89j! •$4 88
Napolaons 3 85 • 3 K8
X X Belotamarks. 4 74 « 4 78
29 Pesetas 4 77 9 4 B3
Bpan, I)oublooas.l9 99 919 79
Hex. Doubloons. 19 90 919 79
Fine (Old bars.
par 91* prem.
Fine silver bars... — 64%9 — 69 ^t
Five francs — 93 9 — 99is
Mexican dollars.. - 90189 — 91H
Do anooio'clal.. — — 9 H
Peruvian sols...., — 49189 — 46
English silver.... 4 80 9 4 86
U. 8. trade doUars - 699 — 76
State and Railroad Bonds.— Sales of State bonds at the
Board include I lii ),U00 Virginia fund debt 2-8s of 1991 at
01 to 61^, |IM, 000 Virginia 6s deferred trust receipts, stamped,
at 6 and >1>,000 Tenn, settlement 8s at 80.
The market for railway bonds has been strong on a fairly
good volume of business, which was generally well dis-
tributed, i'he active list has advanced an average of about
1 per cent, Atchison adjustment 43, Chic. & East, Ills. 5s,
Chic & No. Pac, Mo. K. & Tex. Ists andsomeof the Reading
issues have advanced more than the average. The active list
includes Atchison, Ches, & Ohio, Burl. & Q , Rock Island,
Chic. & No, Pacific, Chic. & Eastern III., Erie, Kansas
Pacific, Mil. & St. Paul, Mo, Kan. & Texas, New York Cen-
tral, Northern Pacific, Oregon R. & N., Oregon Short Line,
Reading, St. Louis & S, Fr., San A. & A. Pass., Southern Ry.,
Texas & Pacific, Union Pacific and Wabash bonds.
Railroad and Mlscellaneons Stocks.- The stock market
has beeu better sustained since the opening of the year than
for some time previous. There is a sentiment mure or less
general that tue depressing influences which recently pre-
vailed have lost their force and that new and b'-tter con-
ditions in all departments of activity are before us. The
earnings of some important Western railway systems are
relatively better than of late, and the granger stocks have
advanced an average of about 1^ per cent within the week.
The anthracite coal shares have been depressed in sym-
pathy with Delaware & Hudson Canal, which has further
declined on the reduction of the dividend fiom7to5per
cent. Delaware & Hudson, which sold on Dec. 19th at 125,
declined to 1 10^ on Thursday and closes at 1 1 1^. Reading
has been relatively strong on the announcement that oppo-
sition to the completion of the reorganization had been
withdrawn. Manhattan Elevated has been unsteady, closing
with a net loss of 1 %.
The miscellaneous list has been strong in most cases. Con-
solidated Gas has flurituated between 137 and 145J^, closing
at 141, against 138J^ last week, U, 3, Leather preferred has
lost \% per cent, American Tobacco has fractionally de-
clined while other active stocks of this list have generally
advanced.
72
THE CHRONICLE.
[Vou LJav.
TOM grtOI MICnkHat-AtTrve STOOKSM %M»k e^Hno JAS. %, and $inoe JAY. 1. IWT.
mmutmt xnu u>vs«r rwoiw.
>»*»
-j» ..a ,-,'• ij^ .|« 17^
•»» »t •••% ••*
•44 «• 'M M
10-% lot tioi ~~
Ut>f ISl
ni»
1* -7*
lai^
l«
iX
lOi^ 10*>« 103%
•it" "iT*
Il«>f uo
4 lt>«
4t
rr n
i« tta
7% 7*
M tS
17 U
«•>• WH
&3 l»tH
«• 48
47^ 4S%
::::: .5
iiomiov iio>iiioynK»4ito''(
• 1 »2 *tM VS
18 !»>■ *17 IB I 10 19>a
73>i 7« -TSS "!* *77 77
t
17% 17%
•90 ft7
iii>tiai%
157 1»7
•im .....
*4I 4«
*14H 1514
S4 44
ll>ia \9H
'«7 St
lis 1S3
M SS
7% 7%
t4it 8«
•17 1%H
■«8 09
153% IM\
5t 5-J
iHH *»>«
>4
l\
S8l« S9H
t4>«
ts%
•16^ 17>«
1«% ISS
•5a 5e>4
H5 «5
MWlOt
•15 1<
17 18
•ISO ....
71I4 Vi>»
•40 60
•»5 101
74% 741»
list 1SI%
lO}>4l03>t
tl5a>«lS3l«
07 674
4«% *»
1S« 133
M% 37
•17" "19
♦50 57
110% 113%
155 157>t
•11% 13%
•41% 48%
15% 15%
•»3% »i
•a" "ii
lis 138
193 94
^% 8
m "
KrkUr.
i)5f
A«Uv« KB. M*«lta. ^
1S% U%At.Top.*ll.r«.aUlutaLp^d
83^ M% D* V(«(
% AHaoMa * PmM*
- BaUtmf«AOIUa
BtottUra Bapid Tmult
nwiiMBss PMine
OMmAs SovtharD
1-^100 UMtnU of N*w J ener
■U\ l&%OMtTmlPMlfle
IT^OkMapaakeA Ohio
CMaago* Alton
Oktoaso BnrlliurtoD A Qulnoy
MoABaMon miDOta...
Do prof.
74% 74%0hl0MoMUw»iilioe*Bt.PMil
31 ISt _ Do prof.
131 _
103%10C%
13% 18%^ 18%
M% sou M%
•0 90« 30%
•80 t8 8*
♦~~ 1.
nn% M i M8%"»3%,' '92% 0S%| I
,zr.7. Hi 14 1 u% ii« •
Z.„ I '05 75 • so 1 •.
I •as 88 I •«« 19 \ '■
••4 «ft
11 11%
•IS 17
18% 18%
88% 88%
•14 34
••5% s« :
W% 87%
'18% 14 ,
r«S 53 ,
;I77%17« 1178
tl«% 1«% 1*%
•» lu I ',9S
34% 84 ' -88
■11% 11%' '11%
*IS% 17<* •!•>%
14 14 )13%
83% K%' 88%
•14 84 i '14
iX 87 t3S
9S% 87%' 8S%
•18% 14 I ^18%
■45 58 ^44
17 18%
60 -'
153% 152%
54 54
48% 49%
• %
• 1%
88% 80
•100% 110%
«7 67%
48% 49
130 187
37 88
411% 11
■41% 43
*U% IS
31% 84
•27" "ii
lis 183
e.>% 98%
•7% 8
•24 36
•17 18%
•88% 70
'191% 153
S.t 55
4»% 49%
%
' 1%
87% 88%
110 110%
38% •»>
fi* '>. ■117 118% lis
r ~ •5«
• 5 , •4H
U- , - , •81% 8« ; 485
lis I* '18 18 t 'I8
■ •»% 4% H% 4%l •SH
f !■■ •''^ 10 ' •o
•19 ::*> ^19
••I '75
P18 1.^ ... lis '118
14% 14% U<« 14>« '14
. •»% »% -9% 9%, »H
8«% SSH 8S 8S% <SS
•% S% • SN
«% 9%r • 9%^ 8%
- 1% 8 1 -8% 8%^ 'SV
•1 •• SV «% 6%; SH
rT 'U 'r "sis V
•^j9*^ i%i "
45
98 98
11% 13%
'«»5 75
'37 88
177% 178%
14% 14%
•9% 10
94 84
•11% 11%
'16% 17%
18% 14%
88 88%
•14 84
{36 86
86% 37%
18% ISV
•45 58
J177% 177%
llSfllT
63
119
CTOOKS.
>*Ilorthwaotani.
•11% 18%
54% S4%<
11% »r
•86 f
110% It
100% l«
70% 71
•1*1 1<M
U% 11%
13
»»%
18
19%
56
11%
76 TfV
108 106
11% 13%
73% 74%
ir; iw
Ohleaco _
Do prof
OW«l«o Rook Iiland A PaoUlc
OUMfoSt. Paul Minn. A Urn.
Do prof
(XsT*. Cloeln. Chla A St. L...
Do prof
Oolnmbiu Hooking TaL * Tol
Do pref.
OslawareA Hodiwn
DaUwmroLaokawaonaAWMt
Danror A Bio Urando
Do prof.
Do '"l«tpref.
Do 2d prer.
Branarille A Terrs Haute
Great Northern, pref
IlllnoUOentral
Iowa Central
Do pref.
LakeKrlo AWeKem
Do pref.
Lake Shore A Uloh. BoDthem .
U>n> Uland
LoulivUleANanhvlUe
LonliT. Mew Albany A Chlo. .
Do pref.
Manhattan EleTated.ooniol..
Metropoutan Traction
Michigan OentraL
MlnneapoUa A at. J Mala
Do lit pref.
Do 2d pref
Mliaonrl Kansas A Texas
Do pref
Hlaw>url Paolfle
Mobile AOblo
NashT.OhattanoogaAStLaali
New Enxland
Mew York Central A Hudson.
Mew York Ohloago A St. Louis
Do l»t pref.
Do 3d nref.
Mew YorkMew Haven A Bart
New York Ontario A Western.
Mew York Susii. A West., new,
Do prat.
Morf. A Westem.all InstaL pd.
Do pref.^.otf«.aUlns.pd.
Mor. PaoltlaKy.ToUngtr.ctfs.
Do pref.
Or. RR. A NaT.Co. vot.tr.otfs.
Do pref.. vot. trusLolfs,
i>hUa. A BeadlDK all Inat. pd.
Pittsburg Clnn. Ohio. A St L.
Do pref,
Rio Orande Western
Rome Watertown AOgdansb.
St Liouls Alt A T. H.,tr.ieota
5%'8t L. & San Fr., rot tr. ctfs.
36 I Do iRtpref.
13 Do 2d prof.
4% St liOuls Bonthwestem
10%l Do pret
35 iSt Paul A Dnloth .'„..
90 Do pret
115% St Paul Minn. A Manitoba...
14%'SoutliemPaclttoOo ,
9%,Souihern,votlng trust oertlf.
371a Do pref., votijig trust oert.
9% TexasAPaolHo ,
9% Union PaolBo trust receipts
3% Union Paoino Denver A ouli.
6%- "
6% Wheeling A Lake Erie.
87% 87% 34% 24%
110% 111%' 110%111>4
% 4% '»- ^4% 5
18% 14 f 14% 14%
50% 55%' 56 5a%j
11% 13%J 18% 12%|
86
110 ,
101 tot n 100% ioo%{ 100% ioo<s
76% 78 I 79 T8%! 77 Ti
1104 104 >t04%10t%tl04%104%
13 11 IS ia%| 11% 13%
78% 74%' 74% 75%] 74% 75%
189% 141%! 144 145% 141 144
83% 81% 83% 34%
S8
S
IS
55%
13%
39%
Wabash.
Do
pref.
t*% 10%
— S|%
9
61
%i^\
5
84%
... ....'siiki"
0»%i '64% 65%
10% 10% 10%
96 85% 85%
9 ' 9 9
60% 60 60%
t4% 94 84%
77 76% 76%
88%
t7
4%
94%
•90
|1»4 154
•64% 65%
10% --
90%
•9
60%
84%
a-
10%
86%
0%
60%
85
75%,
84 '
•83% 84%
•86 89
4% 4%
84% 34%
•90 '
158% 158
'64%
10%
86
8%
66%
84%
i76%
83%
66%
10%
87
9
60
84%
76%
«*1
83%
88
|S8
•4%
•34
•(H)
•153% ISA
84
33%
SS
5
34%
Do pret
Wlao. Oen. Oo., voting tr. otf s
niacellaneona MIociis.
Amenoan Cotton OU Oo
Do pref.
Amarloaa Spirits Mfg. Co....
Do pref.
Jjnarloan Sugar Refining Oo.
Do pret
Amenoan TobaoooOo
Do pnf.
Bar State Qa^
8a]e* (>r
the
Week,
Share*
110% 113%
101 101%
77% 78%
104 104
11% 18%
75 75%UIUoa«ottaaCo.,oertB.of dep,
140% 148 Oonaolldatedaaa Company..
— ■• -- Oenaiml Eleotrlo Oo
Hattoiial LeadOo
Do pref.
Morth Amertoan Oo
PaolOe MaU
Pipe Line OertMoates.
Pnilmaa Palace Car Oompanj
•64% S5% Silver HulUonCertlfloates...
10% 10% SUiiilaril Ro|>o A Twluo
36% 37% Tannesiiee Uual Iron A RR.
•8% 9 United BUtes LaMher Oo
B8% 59% Do prat.
'34% 35 Onlted States Rubber Oo
76 Do pref.
84 84%IWeiitem Union Telagrapn
4,701
10,70»
60
1,190
806
100
337
6,015
100
15,849
79,78b
5
77,159
603
4,168
57
13,637
11,630
170
1,037
500
300
36,1 10
Range for yar 1897.
[On ban* of /oo-than tola.]
Lowest
13% Jan.
83 Jan.
*% Jan.
16% Jan.
18% Jnj
56 Ji
46% Jal
99% Jan.
15 Jan.
16% Jan.
69% Jan.
405 Jan.
73% Jan.
181 Jiin.
102% Jiiu.
}153%Jaa.
65% Jan.
47 Jan.
188 Jan.
2<!%Jaii.
73 Jan.
17% Jan.
110% .Viin.' '
'20i> 1.^7 Jan.
35
10
300
315
10
431
33U
425
Ul%J>»i. 8
435
1,042
1,796
34,548
""26
10,899
1,171
15 Jan.
34 Jan.
H0%Jan.
92% Jan.
7% Jan.
25 Jan.
"ea" Jan.'
1.52 Jan.
47 Jau.
47»8 Jan.
"ii'ii Jan.'
87% J an.
108% Jan.
300
35
1,600
0,450
6,.'SH7
100
083
300
300
40
99U
399
225
20
2.807
7,360
B8»
53,363
100
460
1,515
93
137
125
90O
300
Highest
14% Jan.
.24% Jan.
(% Jan.
18 Jan.
19% Jan.
.'Ht Jan.
46% Jan.
103% .Tail.
15 Jan.
IS Jan.
^95 Jan.
74% Jan.
131 Jan.
103% Jan.
}l52%Jan.
67% Jim.
40% Jan.
(188 Jun.
28 Jan.
73% Jan.
18 Jan.
i'2i'% Jan."
157 Jan.
H3% Jan.
"l"5% j'a'n.'
34% Jon.
HOSJan.
93 Jan.
7% Jan.
25 Jan.
'e'it " j'lin.'
1S2% Jan.
55 J an.
49% Jau.
'51% Jan."
89% Jan.
110% Jan.
19
§77
Jan.
Jan.
« 19% Jan.
6(77 Jan.
13% Jan.
28% Jan.
20 Jan.
32 Jun.
92% Jau.
11% Jan.
27 Jan.
il77%Jau.
14%Ja<..
9% Jan.
23% Jan.
13% Jun.
30% Jun.
21% Jan.
22 Jan.
94 Jan.
11% Jan.
71 27
4:§178
Jan.
Jau.
13% Jan.
32% Jun.
37% Jan.
26% Jau.
13% Jan.
118 Jan. 2
5 Jan.
&35 Jhu.
13 Jan.
4% Jan.
10 Jau.
20 Jan.
14% Jan.
33% Jan.
118 Jan.
5% Jan.
}35% Jan.
2| 13 Jan.
(I 4% Jan.
«> 10% Jan.
4' 31 Jan.
5115 Jau. 8}115%Jan
51
360
1,660
6,338
1.530
28,574
3001
1,646
2,890
23,845
530
100,
1.578;
1,343
11,280;
856!
113,086 110 Jan.
1,63S 100% Jan.
13,302 70\.lan.
46U 101 ■laii.
23,052. 11% Jun.
35,390! 73% Jan.
7,680 136% Jan.
24,7031 82% Jan.
450 23 Jan.
5 {88 Jan.
14% Jan.
11% Jau.
26 Jan.
8% Jau.
8% Jan.
2% Jan.
6% Jan.
15% Jan.
6 Jon.
26% Jan.
2% Jan.
12% Jan.
54% Jan.
11% Jan.
26 Jan.
14% Jnn.
9% Jau.
27% Jun.
0% Jun.
10 Jan.
2% Jan.
«% Jan.
16% Jan.
6% Jan.
39 Jau.
3% Jon.
1,651
910
4% Jan.
24% Jan.
4i 14% Jan.
2 56% Jan.
5 13% Jan.
5: 29% Jan.
5 112% Jan.
7 101% Jun.
,■■) 78% Jan.
8 104 Jan.
H 23% Jan.
8(88 Jtn.
3! 4% Jan.
5 24% Jan.
78% Jan. S
8
7
6
6
4
8
6
7
S
4
8
"6
6
5
"i
s
6
15% Jan. 7
S^tiJnn. 7
24 Jan. 4
3B Jan. 8
27% Jan. 2
13% Jan. 6
8
2
8
8
7
5
6
8
6
3
5
6
6
6
8
8
8
8
3
8
6
7
6
4
6
8
4
3
153 Jan. 21153 Jan. 7
10% Jan. 4 10% Jan. 6
25% Jan. 4l 27% Jan. 8
8% Jan. 7 9 Jan. 2
58% Jan. 7 61 Jan. 2
24 Jan. 5 25 Jan. 6
76% Jan. 5 76'8 Jan. 6
82% Jan. 4 84% Jan. 8
■9SsUma4» t t<MS Uan 100 shares.
Janpabt !), 1817.]
THE CHRONICLE.
73
NKvf YDItK !irOOK R'CCHiSiJE PRICES (CrtoHnaedJ-f.ViCrrP'ff STOCKS.
^X Indicates actual sales. )
IHAOTITB Stock*.
\ [ndloaMsnuUated.
Railroad Stocks.
tibuiy A Snaqueiianna .^100
i-m Arbor 100
Preferred 100
Bait. *0. 8. W. pref., new IOC
Boston h, S. Y. Air Mne pref ..IOC
Boffalo KoonesterJi Pittsburg. 100
FXeferred 100
Sorl. iTfldar Rapids A Vor 100
Obloaeo Great Western
OU>v. Luraiii In Wheel. pre( 100
Olsye'and Jk PlttsbnrK 50
Mk Uoiaee li Vox Uodse 100
Freferred 100
ODlatJIi Bo. Stiore <b Atlantic U .100
PreterredU 100
ETknsvUIe <][ Terre tl. pref 50
nnt A Fere Marqneite. 100
Preferred IOC
K^nawba <b MioUican 10(
KeOknkdE DesMolneB 10(
Preferrea loc
Kexloan Central 100
Kexloan National tr. otfa 100
Morrts A Etsez 50
■. T. Lack. A Western 100
Vorfolk ASoathern SO*!
Worth. Pac. J. P. M. <k Co. ct's.ino
Preferred lOo
OJjl'» r*(tutbem , - lOt
Or. Sh.Line & U.N.tr.rec.all pdaoo
Morla l>eoaturd[ETaD9Ville lUO
Morla A PAstern ItO
ntts. Ft. W. Ji Ohio, guar 100
Pitta, i; Weat. pref .^O
^UM^iaor A baraio^a . ....^^/u
90 flrande i<r.<afi«m pref lOr.
Toledo * Ohio Central 100
Preferred loO!
Tol. 91. L. J! Kan. OttyH.... 100
Jan
8.
Bid.
Ask.
170
JS
22
23
3
6
103
105
16 3i
22
.-.
65
4
5
162
8
9
50
3»s
5
10
no's
4
6
•z
3
1314
14-'r
7>s
9
:ii«
....
nut
.--.
;uo
....
....
5
14
15
J2>t
16i
ISO
186"
26"
3ii"
5U
"..
Range ($ala) m 1897.
Lowest.
8 "a Jan.
231s Jan.
4>« Jan.
39>t Jan.
l^ Jan.
164 Jau.
119 Jan.
15 Jan.
2>« Jan.
16S Jan.
Highest.
9 Jan.
2313 Jan.
5 Jan.
40<« Jan.
1 H Jan.
16t Jan.
IzO Jan.
15 Jaa.
2i« Jan.
166 Jan.
iNACTiTB Stocks.
f Indicates nnllsted.
iniscellaneoua Stocks.
Adams Eipreaa IOC
Americau Bank Note Coll
American Express 100
Amer. TelBCTaph * Cable. 100
Brooklyn Uuion Gas 100
Brunswick Company 100
Chlo. Juno. By. A Stock Tarda. 100
Colorado Coal A Iron Devel.-.IOO
Colorado Fuel A Iron 100
Preferred loO
Col. A Hook. Coal tr.rote.allpd.lOO
Commercial Cable 100
Conaol. Coal of Maryland 100
Detroit Gas 100
Edison Eleo. ni. of N. Y IOC
Edison Elec. 111. of Brooklyn.. 100
Erie XelcKrapb A Telephone ..100
Illinois Steel 100
Interior Conduit A Ins ...IOC
LaoledeGas 100
Preferred 100
Maryland Coal, pref 100
Uiohisan-Penlnsular Car Co.. .100
Preferred 100
Minnesota Iron 100
National Unseed Oil Co 100
National Starch Mfg. Co 100
New Central Coal 100
Ontario Silver Mining 100
Oregon Improv't Co. tr. rtots..lOO
Pennsylvania Coal.... SO
Quioksliver Mining 100
Preferrwi „ ..100
Standard Gas, pref. ..... 100
Teunesaee Coal A Iron, pref... 100
Tex^n r<«olflc Land Trust 100
U. 8. Cordage, guar., tr. certrs.100
U. 8. Expreea ....100
Wells. Paryo Express lOO'
Jan
8.
Bid.
Ask.
150
156
39
41
tno
85
bo
HS
»8
^
l«
1
23>f
24 >3
4'i4
5
156
172
36
40
65
66
187%
....
2414
24nt
70
80
40
50
52
13
ft
4^
10
56
15
7
7
12
300 <
iV W
12
34 43
t97i« 99
Range (sales) in 1897.
Lowest.
Highest.
150 Jan.
154 Jan.
110 Jan.
90 Jan.
85 Jan.
Ill "Jan.
90 Jan.
85 Jan.
....
....
24i« Jan.
24% Jan.
498 Jan.
4%jan.
20 Tan.
101% Jan.
20i«'jran.
103% Jan.
6414'jan.
37% Jan.
65 "Jan.
39 Jan.
2414 Jan.
24%Jan.
12 "'Jan.
12 "Jan.
....
....
....
....
5 Jan.
6 "Jan.
10 Jan.
10 "Jan.
102 Jan.
102 "Jan.
SPii'jan.
97 Jan.
40 "Jan.
99 Jan.
' No price Friday ; latest price this week. I Actual sales.
NEW TOBK STOCK EXCHANHE V&ICEH.— STATE BOyDS JANUARY 8.
SKUDRITIBa.
Alabama— Class A, 4 to 6 1906
Oasa B, 5s 1906
Class C, 4s Xd06
Lorrenov tnndlng 4s 1920
Ariaosas— es,fand.HaLI399-1900
do, Non-Uoltord
?s. Arkansas Central BB ....
Linlslana— Ts.oons ..1914
damped 4s
■ ' ' onnola. 4k ....1914
Bid Ask
102
102
94
92
94
aBcuuixiBB
Mlaaoort— Fond 1884. \895
Horth Oarollna— 6s, old JAJ
Fondlngaot 1900
Hew bonds, JAJ 1893-1898
Obatham BB
Bpeolal tax, Class I
Consolidated 4s 1910
6s 1919
Boatb Carolina— 4i«s,aO-40.. 1933
I 6s,non.fnnd I888
Bid. Aaa
101
124
100
105 >•
iSECDKlTIEg.
IV
Tennessee— Os, Old 1892-1898
6s. new bonds 1892-8-1900
do newseries 1914
OompTOmlse, 3-4-S 6s 1912
8s 1913
Kedemptlon 4s...... 1907
do 4>*s 1913
Penitentiary 4>sa 1913
Virginia fiuded debt, 3-3s...l991
6r. deferred t'st reo'ta. stamTwui
C\Ci
Ask.
80
"¥21;
eo^a 61 >•
6 6%
New York City Bank Statement for the week ending
Jan. 2, 1897. ire omit two ciphers (00) in all cases.
Banks.
(OOs omitted.)
Bank of New York
Manhattan Co
Merohanls'
Mechanics'
America
Pheolx
Cliy
Tradesmen'*
Chemical
Menhauta' Exeh'ge
eaUstu
Bntchera' A Drov'rs'
Me hanlcs' A Trad's
Ors^nwlch
Leather Manufac'rs.
8ST»ntb
State of New York.
AmS'lcan Excbauge
Commer. e
BnHWIway
Marcaniiie
Paclflc
Repnblio
Cb.iUi im
Peopleii'
North America
Hanover
Irving
Cltuena'
NaM;m
Mmrk-i Jc Fuluin...
Shoe A Lt-aiher
Corn Kxihauge
Oootlnental
Oriental
ImporCera'A Trad'ra
Park. ,
East Klviir.
Fotirth
Central
SfCODd — ,
Ninth ,
First
Thlnl ,
N.Y.NaVl Exeh'ge
Bowery
New York County.
Clermaa American..
Chaae
Fifth Avenne ,
tiermaii Kxcbaage.
QeriD.iiila
Cnlted states
Lincoln
Oarasld
Fifth
Bank of the Metrop.
Weat nlds.
Seaboard ,
Sixth
Western
First Nat. B-klyn..
Nat. Unloa Bank..
UbertvNat. Bank.
N. T. Prod. Exeh'ge
$2,000,0 «l.9ia,0 «12,
"~ "140.2 13,
tUS.-J 11).
Capital
Surpt's
2,050,0
2,000,0
2,000,0
1,500,0
1,000.0
1,000,0
750,0
300,0
600.0
1,000.0
300,0
400,0
200,0
600,0
3(<0,0
l,20o,(l
s.oou.o
5,000.0
l.(HIO,0
1,000,0
422,7
1,500,0
430,0
200,0
700,0
1,000,0
500,0
aoo,o
S00,0
900,0
LOOD.d
1,000.0
1,000,0
300.0
1„'SOO,0
2,000,0
290,0
3,200,0
2,000,0
300,0
780,0
600,0
1,000,0
300,0
2,W,0
200,0
750,0
600,0
100,0
200,0
200,0
600,0
800,0
200,0
800,0
300,0
200,0
600,0
200,0
2,100,0
800,0
1,200,0
600,0
1,000,0
Loans.
80,6
381,7
185.9
648,0
•mt.H
278,6
168,4
403,9
111-.. I
l,iiii:i
33;-.,
4l:f
200. 1;
71,7
601.5
422,7
293,0
,600,0
,087,6
64)6,6
679,0
689,8
615,0
708,3
814,2
803.2
323,4
301,6
347,1
420,6
940,7
681,8
236,7
318,1
400,0
208,0
llil.8
•'1.0
1,3
■•.O
>; 1.1,3
0)4.9
096,7
263,6
241,6
230,0
840,0
930.1
:!iiii,3
• 1.7
',0
1.4
.,3
1.9
-.1
Specie.
(2,060,0
2,642,0
2,651.3
1.12'2,0
2,327,0
284,0
5,692,3
220,3
3,«tt6,e
805,0
55;i,o
15'J.II
203.1)
113.
33.M,I)
■248,7
144,3
1,877,0
1,998,0
708,4
715,0
414.6
2.21'3.:!
Legals. Deposits.
V.4 7-.'.-J
4,S0I.'.I
2.H70.0
254,0
2.714,4
484.0
., ,.;.,4
187,6
:,l
680,4
,0
300,1
■.1
1,360,2
'•■■:«
666,0
'■..0
148,5
•■.,0
3,166,0
',3
6,683,3
:,4
151,1
!,:«
2,76S,l
1 ■>>! (\
T,'.I30,
1,283,7
2,864,0
2,401.9
2.4UM,2
16,940,3
6.801,3
2,463,2
3,281,6
6,441,4
6,647,8
3,6.33,7
1,590,8
4,340,8
2,026,0
6,665,0
1,660,0
12,389,9
6,094,0
9,872,6
3,460,6
3,388,9
Total 60,772,7 74,888,1 491,875,9 76,342,3 89,640,9 630,786,0
l,l7u,o
I2M,M
413,0
665.2
ll)7.:l
3.856.4
1,189,4
280,4
61-2.6
1,072, 1
823,9
863.9
806,9
797,6
176,0
747,0
161,0
834,6
618,0
1,641,0
208,8
664,3
•1,300
2,073
2,012
1,350,
3,068
774
3,931.
634.
6.111
368
743.
2(2,
575,
233,
1,704,
3'20.
324
3,618
4,160
6117.
1,356,
•iOO.
1,377.
1,335,
789,
758,
2,676.
480,
302,
630,
726
428.
1,918,
930.
428,
6,220.
6,7»6,
4116.
8,184,
3,318.
681.1
1,404.
2,807,
1,026,
222
767
282.
520,
1,039
mm,
610,
414
712
1,629
677,
212,
1,014
378,
1,329,
264,
2,532,
796
643
827
165,
,0 $12,180,0
1.1,760,0
13.051,6
7.XI1T.0
2ll..'i.'il.2
:i. II ■.'.()
28.J7;<,'.I
,-, l,-','i5,ti
,81 '.U.iilll,?
4,'ii;7.:(
■l.lK.-J.l
i.;iii7.i
'.ll-'.3
'•.i:i;,2
1.7.l:i.7
2,,Mii.4
I,SCI12.0
17,7.'.M,H
4.i;j-J.(i
7,1S1.4
2.'.'r,t.2
12,(J71,0
6,226,4
2,679,6
6,905,6
22,230,7
2,738.0
3.2113,3
2,771.9
ri,.M'<.2
:i.:;ir,,i
ll,ll(l'!,li
5,,''i:«l,2
l.7;il.o
23,7:15.0
3i.i;Mti,o
l,:!:iii.3
2l..-.;i3.5
11.1)75,0
5,3(i7,0
4.150,0
22.n7l).0
rt.7,-i,-(,7
l.l'.lll.C,
:i,4.-.:i.o
3,ii'.io.6
2.386,5
m,460,4
7,433,2
3,210,4
4,1378
6,136,1
6,900,3
4,626,3
1,683,5
5,778,5
2,059,0
8,963,0
1,366,0
12.412,4
6,281,0
8,746,5
2.44U,2
2,877,7
New Tork Citjr, Boston and Philadelphia Banks:
OsHtsI'
Baksi. Atrvtiu. La«u. aneie.
N. Y.'
Dec 6..
" 12..
" 19..
" 26..
Jan. 2..
Bm.*
Dec. 19..
•• 26..
Jan. 2..
Pbila,*
Dec. In..
" 20..
JhU 12..
$
134,521,
134,521,
134,638,
134,658.
136,660,
69,351,
69,351,
60,351,
33,203,
35,203,
35,2(;3,
,4 472,411,8
4 483,503,5
1 487,016,0
1 487,073,3
8 491,375,9
185.093,0
104,860
166,322,0
,0 100,568,0
liH),409,0
(I 11)0,333,0
•
75,676,9
76.648,1
77,251,6
76.768,0
76,342,3
10,444,0
10,402,0
10,710,0
Lttalt. DepotiU.' Oirc'Vn Cltaringt
82,299,0
84,109,6
86,920,6
89,001,2
89,640,8
8,201,0
8,572,0
8,165,0
31,479,0
29,070,0
31,596,0
♦ n*e omit twoci\
1 1 nclndlni; for
S S
502,046,0 19,997,7
516,605,0 19.841,3
523,589,9
525,887,2
530,785,0
155,650,0
161,081,0
155,303,0
101,647,0
99.420,0
102,444,0
19,797,1
19.760,0
19,600,1
10,070,0
9,963,0
9,896,0
6,065,0
7,040,0
7,170,0
881,803,0
57«,340,8
623,40.5,2
489,251,3
525,331,5
94.810,7
74,903,3
95,372,4
6.3,003,6
61,363,3
52,575,3
6hrra inaU tlirte fl'jura,
o it in and Philadelphia the Item "due to other banks".
Mlgcellaneous and Onllsted Bonds:
nilscellaneona Bondw.
Amer. Spirit » MIg., 1st 6s..
Br'klyn Un. <4»ii,la( oona. 6a,
Ch. J no. A 8. Vrt«.-(:ol.t.g.,5a
Col, -rado O A I. 1 St coUK.6s,g.
Cul.C. A 1. DevflL gll. 5s
Colorado Knel A I.— Oen. 6b
CoL A Hook. Coal A I.-6a, g.
Cons.Oa«Co.,Chlo.— lKtgn.6s
Conaol. Coal oonv. 6a
Det. fjaa con. lat 6
BdlaoD Eleo. III. Co.— lat 5s..
Do. of Bklyii.. 1st 6a..
KqiUt. O..L., N. Y.,con». g.6a.
KqnltablB U. * F.— iBt lis
Hendemon Brlilge— lat g.da.
IlUnola Steel ilab. 6a
Non.cotiT. deb. 5m .
maceilaneous Bonds
Int. Cond. A Ina. ileb. 6n...
Manbat. Beach H. A L. g. 4a.
Metropol. Tel. A Tel. 1st 6s..
Mlch.'Penln. Car lat 5a ...
Mutual Union Teleg.— 68, g.
Nat. HtarcU .Mfg. lal 6a
N.y. A N. J. Telep. gen. 5a.
Northweatem Toleg^raph— 7a
People'a oas " "
Co., Chltiago.
lat oona. g. 6a
Standard Rope A T. latg 6a
Income 63. ..
Sunday Creek Coal lat g 6s.
U.S. Leather— S.f.deb.,g.,6a.
Weatem Onion Teleg.— 7s...
Wheel.L.E.APitta.Oaal latAa
m Telegraph— 7a
I A C. ) 1st g, 6a.
!0 (2d g. 6a.
-
99
b
75
b
23
b.
107 -ab
Note.— "ii" ludicatea price Md; "a" price luktd. ' Lateat price this week.
Bank Stock List— Latest prices this week. (*Not Ldsted.)
BANKS.
America.....
Ara. Exch..
Bowery*
Broadway...
Butch. ADr.
Central
Chiu'e
Chatham
Chemical ...
City
Cltlzrna'....
Columbia...
Commerce..
Continental
Com Exch...
East River.
11th -Ward.,
Fifth Ave...,
Fifth' ,
Plrat
FlntN.,S. I
14th Street.
Fonrttk.. ....
0all <n
316
171
310
230
126
125
Bid. Aak.
330
174
240
140
130
295
4000
600
126
176
200
130
280
125
2900
260
3600i
120
178"
800
305
4300
1)1)
136
204
135
290
186
820
BANKS.
Oarlleld.
(ierman Am.
Qerman Ex«,
Germanla....
Breenwloh...
Hanover
Hnd. River.
Im.ATrad'rs
Irving
Leather Mfs'
Ltborty
Lincoln
Manhattan...
Market A Fnl
Hechantca'.
M'clia' A Tra'
Mercantile...
Merchant.'..
Meroh't. Ex.
Metropol 'a...
Mt. Morris..
Naaaaa
N. Ams'flam.
llfewYofk...
Bid.
Ask.
360
108
375
350
165
810
330
150
625
540
140
150
170
128
750
206
216
215
230
180
195
130
135
170
132
140
110
426
100
150
191)
330
■240
BANKS.
N. V. Co'nty
N.Y.Nat.Ex
Ninth
19lh Ward..
N. America.
Oriental
Pacillo
Park
People's
Phenlx
Proil.Ex.*...
Kepubllo
Seaboard —
•second
Seventh. ...
Shoe A Le'th
Stateof N.Y.
Third
Tradeam'n'a.
ITnlon
Union Sq...
Un'd States
Weatern
West Side..
050
108'
100
130
175
170
56
Bid. Aak.
116
i'SG
265"
104
116
140
168
425
100
90
108
100
93
196
175
175
114
376
100
177
94
102 1«
96
200
120
74
THB CHRONICLE.
[VOL. LXIV.
•iMMM. MltiOKteKI* !■<» W^lifKUM IfOOK gt.CH\NWgS.
r^ «k«r« Prt*M - —i ^•r 0««f Frt— .
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177 177
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79
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41 >t
lOi
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174 >t
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04%
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Jm. S. Jko. 7
70%
73%
7«i
it
30%
110%
13>«
34
177
«S-«|
«7
10
110 1U>«
101 101
S04<|S04I«
»0>t 08%
7% •«
333 SIS
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41 41
30 80
44>« 4^
S3>« 33>*
•75 77
39 88
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'41 41%
'10l%103
13% 1J%
"ilT 4t%
I'i 1%
14% 14%
•H% ■u%
•10 ..„«
•17% mi
tiii % si6~
SOO tu?
181% I0i%
•10 ....
07 07
71 71%
74 71%
7% 7
02 OS
30% 80%
•OU
ii% 11%
•33 33%
174% 177
51% 5l^«
18> I %
47% 47%
•0% e«
0% 0%
110% 111%
100% 101
207 3>7
»7% e-*><
0% 7%
340 845
•5< ....
4i)H 40%
34 98
30
09
34
75
8J
«<•
31%
7<f'«
38% 38%
30% 31
41% 41%
103 103
14 14%
71 71%
— £?• "£^
14% 14%
17% 17%
•10 110
too 804
104 14i
10% 10%
•M .....
71% 73
74% 74%
•01% 9i
30 <« 30 >«
110 110
7% 7%
Vii% 41%
13% 'U%
83% 81%
177 177
ni'% 53
li»,, IS»„
47% 48
8
8% 0>*
110% 111%
100 <• 100«|
3J7% 308
07% 98%
4% 7
84) 847%
27%
30-4
45
83%
74 >•
34
21
41%
103
14%
71%
43
•1%
37*
30%
0>%
83%
77^
38%
21
41%
1>2
14%
71%
43%
3
rndar,
JaaTs
14% 14%
•18 18
'17
•41
•17
■17
IN
42
17%
17%
310 310
SOO SOT
114 144
•10% 11%
•.^4 f>H
71% 7i%
74% 7.^
•7% 7%
•SI
ei% 91%
30>t 30%
109% 10a%
7% 7%
•85
01
•47
40
41
64
13% 13%
■33 33%
177 177
61% 52
18*,« 13%
08% 48%
8% (•■%
9% 9%
111 113%
10 >% lOl
309 310
04% 9t<%
8% 6'e
840 24 >
80 (to
•80% 01
27% 97%
45
30
*3J% 34
•74 77%
83 38 •«
21% 21%
41% 41%
102 lOJ
14% 14%
71% 71%
42% 4Z%
•1% 2
Of tb«
WMk,
ShWM
29"
a"
»«•
so
14
7
7J
10
4
10.90O
8.83%
41
425
14t
1,0 10
74'
"'937
204
3,2 -3
30,22
l,4i8
IS
8,15 i
14 JkD.
14 J»a.
Oi~ J»i.'
l'%J»a.
17% J«D.
S09 J*a.
i 1^ J to.
I AS .FkO.
10% Jan.
57 Jito.
49% Jka.
73 J.n.
7% i»a
21% Jta.
01 « J4a.
80% Jaa.
J»o.
7% Jaa
10 100
13,042
8(1
81
18.81^
38.U1
l'»-(
10'
537
84d
6711
531
8,302
34^
8.^4
116
131
194101%
l,il3 13%
509 71
287 42
190 1^8
\ Trost reo..
BwMOOf waatln IN 7.
IiOWMt.
14% Jan. 7
■35 Jan. 4
0<,
1-%
17^
21u
2 S07
2 114
4 > Jan.
iTijJn'
83 % Jan.
178 , Jaa
51% Ja>i.
13*. r Jan.
04 % Jan.
8 '» Jan.
8% Jaa.
110
1001,
20.^%
91%
6si
3J'
40
4J%
37%
30
04 4
71
38
20%
41%
Jan.
Jan.
Ji«a.
Jaa.
Jaa.
J in.
Jan.
Jaa.
Jan.
Jau.
Jan.
Jan.
Jan.
Jan.
J»a.
J^n.
J4a.
Jan.
Jau.
Jta.
Jan.
low
5'%
7W
TS
7%
32
02
3)%
110%
7%
J%n.
Jan.
Jan.
.ran.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Ji>a.
Jan.
Jan.
Jan.
n>«Jaa. 7
1 ■ »< Jan.
33% Jan.
17' Jan.
82 Jan.
13'aJaa.
88 <• J «n.
9 Jan.
9 <% J.>n,
8111%
6 1)1
3 O
99%
8
• 47%
81
6'
38
.10%
3«>«
77^
34 «
21%
41%
2 1«2
S| <4%
6 71S
4> 48 >«
ftl 1%
all Instal. paid.
Jan. 4
Jan. 4
Jan. 8
.r«i), 8
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
Jan.
lao.
lao.
Jaa.
Inn.
Jan.
J»n.
Jan.
Jan.
IfiaetW* Stoelrt.
rr%et» •' JaNMOry 8.
■U O '^arloii* !«•«.).
I A rroTMaaa* (*••«•«).
OhI* ......... (Sad.)
Wa««iok.(Jl
t*Pa«.. -
iMtw... -
TrMt.«n(.J.1(rMla.).
!■».
^•f• lto*9...< I iil m ),
00
tH)tim.)
•akavnimirir.iiraMiLl.
J OrafB . .....( » nH 11;.
i nu*o.BaTM.rrft«i«.>
MfeaalscTnl...
I ♦■«f1w Oa.. "
lotll nsMirlTaote. ■•
* Jft. LiM ail aMC>4/ ■•MMi
Maartraai* * M. V. f Mtfa. I
M. * Brio -
4 ...^ ^.^t tt tm n )
inaa.or m.i..ir%n».)
wtSt
WmiJ
^MiJaraar A 4Uaa.
VMtar* M.V. * l%aa
»—■ Hi tlaa«rat...r
rTW««i»4
V«fi^M.llaak.Ala*fc.
J Mffca— »p4/«lll m .
■•OaVislM..^. -
rOiMaOttaf.. ,«. **
■ Ua*4 I*,!** ••
aaiat Miaiitir" ••
iWaraaOMtl.. ••
tta Mlala*. .„ -
\mv% Mr Ui. -
iWiaia*.... ••
-^SalaA. ., ■•
• raiaaa Oar! ••
1«Mta Ola*!.. irtMrn.)
100
100'
50!
50
50
100
100
100
100
100
100
100
50
50
90
90
100
100
90
100
50
90
100
90
100
90
50
100
100
100
100
90
90
100
90
60
100
100
100
too
•9<
•9
90
**i
•00
>%
48%
30
5
145
S4S
ses
to
140%
SAO
39
'it
•1
S4%
8ond<.
Bid. Aak.
10
SO
50
00
91%
9 I to
•9 90
90 90%
ISO ISO
93%
94
Doited Oa*. 30 m. 59. .19J»( 70
BmiLAVo. BlTarBxenpt Oa, JAJ U16%
■o>.*z*apt 4*. 1918, JAjfloO
I>UlB4a 1910,JAJ{i 95
Oklo. BorL A Mor. Itt 5,1924, AAO 103 %
•d mort. 4* 1018. JAO) 99
l>abamara 8a 1898, JAD
Ckle.BarLAQnlaey4a 1923, FAA
Iowa DIrUloa 4a 1919, AAO
OUa.A W.Hloh. Kan. 5a, 1931, JAD
OonaoL of Vartnont, 6a.l918, JAJ
Onrrant RItm, lit, &t..l927, 4AO
Dat. Laaa. A Ror'n U. 7a. 1907. JAJ
laatarn lat mort 4 «.1906.MA8..
»TM.Elk.AK.V.,lat,0a.l933, end.
' OaalAoiped, lat, 4a, 1933
K.aO.A8prln«„lat,Sg.,1925,AAO
84
14
40
45
80
341
44%
■"s%
1%
19
98
95
48
52
SO
55
118
125
123
50
80
46
US
70
90%
83
}107
( 86
15
6%
118%
113
82
05%
47
Si
to*
. so
•9
^8
roa^aral t. 4*. I0«9
■MMs.«a,iosl
UaMa/ttaalM9«. ..^
lis
%
•4%
9%
4
S%
1
It
M
17
•0
•I
1S4
too
-"
90%
w
K.aO.ABprtn«„lat,5K.,1925,AAO
K a r.B.AIL aon.6a, 1928. MAN
CO. Mam. A Blr..lat,2a,1927, UAS
K.& Bt. Jo, AG, B., 7i..l907, JAJ
U Book Art 8., lat, 7a.. 1005, JAJ
L«ala.,BT.A8tL.,lit,4ff.l»8«,4AO
SIB..9-4 ■ .. ....1984, AAO
Mar. a. A Ont., Oa 1925. AAU
Kaztoao 0»ntral,4 «...1911,JAJ
lateoaaoLlnoomaa, 8 k, nonoaat.
td eonaoL Inoomea. 3a, non-onin.
B. T. A B.Bod,, lat, 7i, 1905, JAJ'
Utaort. 4a 190S,JAJ
Ofdan. AL.O.,Oon.4«...10S0.iLAO
Inc. ea....„ ......... ....^..loao
Ba Uaad, lai,4a 1908.ICAir
I Sd. 9a 1898, PAA
8o%\.Jlfc'«?ri?t''^i*5.!'aiifM*»
BoOMo Bf, eon. lat, &• 1031
t^lavlaaa, lt..7a 1900, rAA
....I OUM. Okie. A Onir, prtor Uen 6a..
S% Clttaeoa'8t.Rr.orind.,oon.5*.1033
S% Oulamb. 8t. Kr„ lat, oon. 5a. . 1932
19 Oolnmb. O, Oroaatown, lat,5a.l93.l
OooaoL Tract, or N. J„ l«t,Sa.l933
0*1. AB'd Br-k,lit,7t.l905,rAA
B<M«OBA&ai.latM.,Sa.l930,MAN
S4%, Bla*. A Paopla'a Trao. atook. tr. otfa
Blmlr. A Wllm., lat, 4a. 1010, JAJ.
4%! HealoarUle IL A ¥., eon. 5a., 1924
a I Bant. ABr'dTop,Ooa.5a.'9S,AAO
L«hl|^ BaT.4%a.. 1914, Q-J
Sd Oa, (Old...... .....1897, XAO
Oaaaral mort. 4%^, K.1934,a-r
LakKk VaUOoal litS^'g.uaSjAJ
Much VaUar, Ut Oa. .T1898, J^
S4 7a ... ...,> 1910, MAB
Oouaol.O 198S.JAD
■awai* Paaaeacar, eon. 5a... 1980
■SP*^"*- '•*• 4«.... 1934, ••'ad
O^^tja 1008, JAJ
raMraoB BaUwar, oonaoL 6«
r*Baa7lTaau«aB.4a,r-19lo. Var
OMaol.4*,* ^ 1909. Var
g!!»^»«.'; 1919, Var 117
OoUat.Tr. 4% « lOU, JAD
'5i* 1- '• Oanal,7a.. . u^JAB
Ooa. 9a..... . -*— ......
ISO
s
11%'
•74
17%
•1
70
139
lOS
1
•4
91
70
103
i 93
104
110
109
104
75
82%
121 I
106 >«'
71%,
113
110
104
112
102
101%
94>«
103 >i
130
114%
104
HI
ISO
I80"*
71
117%
107
94
104
98%
Bond!
.19tO AAO
ISl
107
01
98
45
54
70
60
119
127
125
70
85
68%
120
75
103
86
108
66%
16
7%
119
113
84
IS
104
95
101%
110
80
83
107"
71%
103%
95"
isT"
104%
111%
109
121%
*a«»*M. 1 Oallaiad. s Aad OMraad latarMt.
People's iTao. traatosrts. 4B..1913
PerUomen, lat aer., 5a. 1918. Q-.'
Pmia, A Erlegen, H. 5«.,1920, AAO
Qen. mort., 4 g...... .1920, AAO
PhUa A Bead, new 4 «., 1958, JAi
lat pret. Inoome, 5 s, 1958, Feb I
Sd pref. Inoome, 5 g, 1958, Feb. 1
8d pref.lnoome,6 K,1958,Feb. 1
Sd, 5a 1933, AAO
Oonaol. mort. 7a 1911, JAD
Oonaol. mort. 6 g...... 1911, JAD
ImproTementH.8 <. , 1897, Ato
Con. H.,S K.,stamped,1922, M tK
Terminal Ss, g ...^1941. Q.— B*.
PUl. Wllm. A Bait., 41.1917, AAO
Pitt*. 0. A at. L., 7a. ...1900, FA/l
Booheater Railway, ooa. Sa ..1930
Soha7l.R.E.81de,lst 5 g.l935, JAD
Union Terminal lat 5a. ...„FA*
AtSn"a1f6iI?rf!^."??;ri90r,J*.
Baltimore Belt, lat, 5a. 1990, M.fi-i
Baiua Paaa. latSn.. .1911.M.«!<
Bait. Traotlon, lat 5*..l!(29, M<« 4
Extea. A Impt, 6a.... 1901, M.«0
Xo. Bait. DIv., 58 194'^, J«D
Baltimore A Oblo 4 g., 1935, AAU
Pitta. A Conn., 5 g. ..19J5, FA4
Btaten Taland. S'l, 5 e.l926, JAI
Beoelrera' certlSoites. .........
Bal.AOQlo8.W.,ls^4••i<.1990, Ja <
OapeF.A7ad.,8ar.A.,8g.l9ie, JAI'
Oent.Olilo,4%g 1930, M «><
Cant. Paaa., lat 5a I9.i2. Sl/%s
Oity ASab.. lat 6a 1922, JAO
Oliarl.Ool,AAag.ect.54.19lO. J,t
OoL AOraeof,, lat ^-«^. 1917. JAI
OeorglaA Ala.,latpf. 5a.l945,AJiO
aa.Oar. A Nor. lat •> g..l9i», JA.
Qeorgla Pao.. lat VA<. .1922. JAl
Oeor. 80. A Fla.. lat 5a.. 1045, JAJ
Nortk. Ont. 6* ...„ ... 1900, JAJ
6a ^ 1904, JAJ
Berlea A, 5b ^ ....1926, JAJ
4%a .......1935, AA: >
Pledm.ACam.,lst, 5^.1911, FAA
PltU. A OonnelU. lat 7a. 1898, JA^l
Soukem, lat 5n 1994, JAJ
TlrglnU Hid., lat 6a.. .1906, HAS
Sd Berlea, 6*..... 1911 UA9
8d Berlea, 6a....M....19lJ, UA4
4th Serlea. S-4-5a.....l921, MA'
StkSerlaa, 5a 1926, MA"
WaatVa C.A '». l8t.6g.I91t, JA '
Wart'L^I.C. Oonaol, 6 g.19'4, JA'
Wllm. Oel, A Aug., 6s..l9i0, JAD
iiiRaaLLA.NBoa8.
Baltimore Water 5a. ..1918, MAM
randlag5a._ ....1916, MAN
BEOkange 8%a... 1930, JAJ
Tirirlnia (State) 8a, new. 1932, JAJ
Fanded debt, 2.8s I99i, JAJ
Okeiapeace Oaa. Oa.... . 1900, J AD
Oona il. Oaa,4«........„l910, JAi>
'I 9a ....»■... — .'Qoo
Bid. Aak.
91%
94
l.H%
lOi
f<U%
4«%
3k>«
33 I
120
128 I
1V0%
10J.4
102 I
1 10%
102>«
I>M%t
97
lOJ
101
120%
80^
4'
35%
33%
103%
111%
110% 117
108%' .„•
l'«%| ....
lol^l .1""
ldl% 103%
■»"% 'im
iii" iTi^
lOV"* 107
l<i9'a 112
99% 100
78 -a 80
..._:llS
• ■•■•M I •••••■
118 ...~
112% 113%
112 I .....
lo7 I .....
l(li%104
102 104
8i«% 89%
iia*'*
102
105
102%
lOtf
114% 119%
1«>6% .....
f\
Jahcabt », 1897.J
THE CHRONICLR
76 '
NEW YORK STOCK EXCHANGE PRICES {Continnei)-ACTIVE BONDS JANUAHY 8 AND FOR TEAR 1897.
RiJLBOAI) A)n>
MnOBLLAKBOUB BOKIM.
AmCT. Cotton OU. deb., 8g. 1900
ABn Arbor.— iBt, 4b, g 1995
AtT. <kS.F.— New gen. 48.1995
AdiQBtment 4s 1995
OoL Mldl»ncl— Cons., 4g. 1940
AtL * Pao.— Guar. 4b 1937
B'w»yA7tliAT.-lBt.oon.g.5B'43
Brooklyn Elev. Ist, 6g....l924
Union Elevated.— 6g.... 1937
BTdynWhrfAW.H— l»t,5B,K.'45
Canada Southern.— lBt,58,I908
2d,5». 1913
Central of N. J.— Coii».,7b,1899
ftonsoL, 7» 1902
Gtoneral mortgage, 5g. . . 1987
Leh-A W. B.,oon.,7B,a8'd. 1900
" mortga({e5B.1912
Am. Dock & Imp., 5b. ...1921
Central Paolllc.-Gold, 68.1898
Chea. A Ohio.— Ser. A, 6g..l908
Hortgase, 6 g 1911
lBtooneoL,5g. 1939
0«neral 4iaB, g 1992
B.AA.I>lv.,lBtoon.,4g.l939
•■ 2d con. 4g.. 1989
Ellz. Lex. & Big. Ban.,5g. 1902
Ohio. Burl. A Q. Con. 7e.l9i>3
Debenture, 58 1913
Convertible 58 19C3
Denver DlTlBlan 4a 1922
JnCit
A A O
Not.
F A A
J & D
A A O
MAN
F A A
J A J
MA 8
Q-J
MAN
J A J
Oloting
Fri€4
Jaiu 8,
^-"
A N
A J
A J
A A O
A A O
MAN
MA 6
J A J
J A J
MA 8
J A J
MA N
MA S
P A A
Nebraaka EitenBton,'48.1927'^ A N
Han. A St. Jo8.— Con8.6B.191 1
Ohio. A £. 111.— lat,a. t. 6a.l907
OonaoL eg 1934
General oonsoL, lat 5a. .1937
Ohloago A Erie.— lat, 5g..l982
ChtoTOaa L. A C— let, 5g. . 1937
Ohio. Mil. A St. P.— Con.7a.1905
lat. Southwest Dl v., 6s. .1909
lat. So. Minn. DIv., 6B..1910
lat,Cb.APao.W.Div.5e..l921
CSiio. A Mo. Rlv.Di v.,5a. . 1926
Wl8C.AMinn.,Dlv ,5g...l921
Terminal, 5g 1914
6en.M., 4k., aeries A.. ..1989
HU. A Nor.— l8t,oon.,68.1913
Ohio. A N. W.— Consul., 78. 1915
Coupon, gold, 7a 1902
BlnUngfand. 6a 1929
Sinking tnnd. 5a 1929
Bin king fund, dehen.. 5a. 1933
25-year debeuture, 5a... 1909
Extension, 48 1926
Ohio. R.I. A Pao.— 6a,ooup.l917
ElxtenBlon and ooL, 5a. . . 1934
SO-year debenture, 5*... 1921
Ohio. St. P. M. A O.-68...1930
Ohlo.&W.Ind.— Uen.,g.,68.1932
Olev. I.or. A Wheel.— OS. ..1933
a O. C. A I.— CoBsol. 7g ... 1914
Qeieralconsol.,6g 1934
aO.C ASt.L.-Peo.Ai„,48.1940
Inoome, 4a 1990
OoL A 9th Ave. gu. Sa, g..l993
OoLH. Val. A Toi.— Oon..Sg. 193 1
Oeneral. eg 1904
Deny. A KloOr.— lat,78,g. 1900
lsteonaoL,4g 1936
DnL Bo. Bh, A AtL— 5i;....1937
■dlaon El. Ill.-lBt.<<on.g.58.'95
Brl»— 4, g, prior bomU 1996
General, 3-4, g 1996
Ft. W. A Den. City.— 4-6 g.l921
OaLH. ASan. A n-M. AP.D. 1 at,5g
Sen. Eleotrlo. deb. 5a, g . . . 1922
Hona. A T. Cent. gen.4a,g.l921
minola Central.— 4a. g 19.53
Waatem Lines, lat, 4a, g. 1951
IntAOreatMor.— l8t,6a,g 1919
8d,4-5a 1909
Iowa OentraL— lBt,Sg....l938
Kings Co. Elev.— l8t,5g..l925
LMlMe Oas.— lat, 58,g...l91U
Lake Brie A West.- Sg. . . . 1937
L, Shore.— Con,op.. 1 st, 7s . 1 900
OonaoL ooup., 2d, 7a. 1903
I«x. At. A Pav. F. gu. 6a,g. 1993
I«ng Ialand.-latoon.,5g.l931
Oeneral mortgage, 4g. . . 1938
Loola. A Naah. -Cona. 7a .. 1 898
74^
797e
44>4
"io^b.
117
74 b.
71
99 b.
log's
104 ^b.
105 tsb.
112 b.
115>9b.
103 b.
Hange (sales) in 1897.
Lowest. Highest.
H.O AMobUe, lat,6g...l93U
" •• 2d.6g.. 1930
eeoeral, Sg 1930
Dnl]led,4g 1940
Umla,M. A. AOta.— Iat,ea.l910
OonaoL, 6g 1916
Kanhattan oooaoL4a 1990
Metro. Elevated.- lat, 6g.l908
„ad,6a 1899
Mloh. Cent.— Iat,aona.,7a.l902
OonaoL, Sa 1902
MILLakeBh. A W.— Ist,6g.l921
Xzten.AXmp., 5g 1929
Mtan.A8t.L.— Istcan.58,g.l934
Ifo. K. A K— lat 5a, g., gu..l942
K. K. A Texas.- lat, 4a, g. 1990
M,*a,g 1990
MA 8
J A D
A A O
MAN
MAN
J A J
A
A
A
A
A
A
A
A J
A D
Q— F
J A D
A A O
A AG
MAN
MAN
F A A
J A J
J A J
MA B
J A D
,Q-M
A A O-
J A D
J A J
A A O
April
M A B
MA 8
J A D
MAN
J A J
A J
A J
A J
A J
J A D
MAN
J A D
A A O
MAN
F A A
MAN
MA 8
J A U
J A J
Q— F I
J A J
J A J
J A D
MAS
q-j
J AD
A AO
J A J
A J
AD
A J
A J
A A O
A A O
J A J
MAN
MAN
MA N
MAN
FA A
MAN
A A O
J AD
F A A
114^b
100 ><b.
120 b.
118 b.
108 >4
73 '8
97 "sb.
85 a.
9914b.
115 b.
97 b.
100 '4
95>ab.
871s b.
118 b.
113 b.
n23 b.
98 b.
llOiab.
92 %b.
12» b.
115'a
IISH)
112:<8
1061a
110 b.
105 b.
96>3b.
116-4b.
140%
116 b.
114 b.
108 b.
llO^b.
107 b.
100 b.
128 b.
101 '»
94
128 b.
lie's
102 a
130 b
121^b.
73 b.
1913 a.
H6'Bb.
88>9
85 b.
110>ab.
881a
100 a.
109 a.
93\
63 ■«
53
88 b.
90Hib.
64 b.
102 b.
•lOlOgb.
in\
74 b.
961a
40 b.
93 Lab.
114 b.
llO'-ab.
118>sb.
116%
115 b,
78>ab,
104 >ab.
116%
99>9b.
llflisa.
77 b.
llOisb.
80 b.
94%
lie b.
105 b.
113 b.
105 b.
13lie
113 b.
loo's
9014b.
83
eii4
74>s Jan.
791a Jan.
4318 Jan.
3912 Jan!
116>a Jun.
7438 Jan.
71 Jan.
991s Jan.
108 Jau.
105 Jan.
1151s Jan.
114i3Jan.
100 Jan.
119 Jan.
118i3Jan.
107% Jan.
7314 Jan.
97 Jan.
115 Jan.
97 Jan.
IOOI4 Jan.
94 Jan.
8714 Jan.
1241s Jan.
100 Jan.
110% Jan.
93 Jan.
128 Jan.
11518 Jan.
1151a Jan.
112 Jan.
1061s Jan.
UOia Jau.
liuia Jan.
96 Jan.
75 Jan.
80ie Jan.
44 14 Jan.
"46" Jan!
117 Jan.
74% Jau.
71 Jan.
100 ig Jan.
108's Jan.
IO513 Jau.
115>9Jan.
I I4ia Jan.
lOO's Jau.
120 Jan.
II914 Jan.
1081a Jan.
73''8Jan.
98 Jan.
llSae Jan.
H7ia Jau.
100% Jau.
94 Jan.
87>8Jan.
140 Jan.
lie Jan.
114 Jan.
110% Jau.
106 Jan.
101 Jan.
tOl^gjan.
93 Jan.
126 Jau.
U6iaJ»u.
102 Jan.
731s Jan.
117 Jan.
88 Jan.
87 Jau.
Ill Jan.
88 '4 Jan.
100 Jan.
104^8 Jau.
9313 Jan.
62% Jau.
53 Jan.
80>a Jan.
901s Jan.
1244 Jau.
lOO'e Jau.
llOia Jan.
93 Jan.
128 Jan.
1151a Jau.
1151s Jan.
112318 Jan.
1061s Jan.
1 tola Jan.
Ill Jan.
96 Jan.
140% Jan.
11638 Jan.
114 Jan.
Ill Jan.
1061s Jau.
101 Jan.
102«4 Jan.
94 Jan.
126 Jan.
117 Jan.
102 Jan.
75 Jan.
117i4Jan.
73 Jan.
96 Jan.
931s Jan.
114 Jau.
116% Jan.
115 Jau.
761s Jan.
105 Jau.
lie Jau.
98 Hi Jan.
116 Jan.
7814 Jan.
Ill Jan.
94% Jan.
lieagjan.
105 Jan.
131% Jan.
1121s Jan.
100 Jan.
82 Jan.
59% Jan.
117 Jau.
881* Jan.
87 Jan.
Ill Jan.
881s Jan.
100 Jau.
10514 Jan.
91>4 Jan.
6314 Jan.
531s Jan.
8i>% Jan.
91% Jan.
117% Jan.
731s Jan.
961s Jan.
94 Jau.
1141s Jan.
117 Jau.
117% Jan.
761a Jan.
10.5 Jan.
116% Jau.
98I3 Jan.
116% Jau.
78'4 Jan.
Ill Jau.
95 Jan.
117 Jan.
105 Jan.
13116 Jan.
1121s Jau.
lOOis Jan.
83 Jan.
611s Jan.
RAn.BOAD AHD
HUOBIXANBOUS BOin>S.
Inestl'^J^O
Periodljan. a.
1990FAA 6II4 59%Jan. BlisJan.
" Indloatea prlae bid: "a" priee a$kil! the range la made op
atfni^ ^£%r%wr ssrwtr^nwT n«r#^n a &v#^«a ««v«r#mi£, fr^ —
Mo. Pac.— lat,con.,eg 1920
3d, 78 1906
Pao. of Mo.— l8t, ex., 4g.l938
2d eit. 58 1938
St. L. A Ir.Mt let ext., 58.1897
2d, 7g 1897
Cairo Ark. A Texas, 7g.l897
Gen. R'y&Ia'idgr.,5g.l931
Mobile A Ohio— New 6g ...1927
General mortgage. Is 1938
Nash. Ch. A Bt.L.— Ist, 78. .1913
ConsoL,5g 1928
S. Y. Centr J— Debtext.48.190.='
iBt, oonpon, 78 190a
Debeu.,58. coup., 1884.. 1904
N. Y. A Harlem, 7a, reg. . 1900
K.W. A Ogd., oonsole, 58.192'J
Weat Shore, guar., 48. ...2361
N. Y. Chla A St. L.— 4 g...l937
N. Y. Lack. AW.— lat, 68..1921
Construction, 58. 1923
N.Y.L.E.AW.— l8t,oou.,7g.l92(i
Long Dock, cousol., 6 g.l935
N.Y. N. H. A H.— Con. deb. otf s.
N.Y. Ont A W.— Bef. 4b, K.199i
OonaoL, lat, 5a, g .'.1939
N.Y.Sua.A W.l9tref.,58, g.l937
Midland of N. J., 68, g. . . 1910
Norf.A W.— 100-year. Ss.g. 19yo
No. Paclflo— let, coup. 6g.l921
Do. J. P. M. A Co. certfa
General, 2d, coup., 6 g..l933
Oeneral, 3d, coup., 6 g. .1937
ConaoL mortgage, 5 g. . . 1989
OoL trust gold notea,68.1898
Ohio. A N. Pao., lat, 5 g..l940
Beat L. 8. AE., l8t.,gu.6.1931
No.Pac.Ky.— P'rlleu ry.Al.g.49
Oeneral lien 3s wupu issued.
No. Pao. AMout.— 6g 1938
(Jo. Paolfio Ter. Co— eg. ...193»
Ohio A Mlsa.— Con.a.f., 78.1898
Ohio Boathem— Ist, 6 g. . . 192 1
General mortgage, 4 g..l921
Oregonlmpr. Co.— 1st 6g.. 1910
OonaoL.Sg 1939
Ore.R.ANav. Co.- lat, 6g.l909
Ore.KR.ANav.oon8oL, 4 g.l946
Penn. Co.'-4isg,o<,ap 1921
Peo. Deo. A Evanav.— 6 g. 1920
Evana. Dlvlalon, e g 1920
2d mortage, 6 g 1926
Fhlla. A Read.— Gen.,4 g..l95H
lBtpf.ino.,5g, allluBt. pd.'58
2dpf.ina.,5g., all lust. pd.'58
3d pf.mo., 5_g., all inst. pd.'SS
Plttaburg A Western— 4 g. 1917
BloGr. Weetem- I8t4g..l939
St. Jo. A Gr. Island— 6 g. .1925
St. L. ASanFr.— eg.Cl. B.1906
General mortgage, 6 g..l931
Oona. guar. 4s, g. 1990
St. L. AS. F. Kk. 4g. 1996
St. L. A 80. W.— 1st, 4s, g.l98y
2d, 48, g.. Income.. ...... 1989
BtP.M. AM.— Dak.Ex.,6 g. 191U
IstoonaoL.e g 1933
" rednoedto4is g..
Montana extension, 4 g.l937
San.Ant.AA.r.— lat,4g.,gu.'43
So. Car. A Oa.— lBt.5 g...l919
Bo. Paolflo, Ariz.— 6 g. . . 1909-10
80. PaolHo, Gal.— 6 g... 1905-12
lat oonaoL, gol d, 9 g 1 937
Bo. PaolUo, N. M.— 6g 1911
Sonthem— lat oona. g, 58.1994
B. Tenn. reorg. lien 4-5s. 1938
E.T. V. AG.— lst,7 g....l900
Con. 5 g 1956
Georgia Pac lst5.6a,g. ,1922
KnoxT.AOhlo latea^..l925
Blob. ADauT. oon. 68, g.. 1915
WeaUNo.Carlat oon.ea,g 1914
MA N
MA N
FA A
J A J
FA A
MAN
J A D
A A O
J A D
MA S
J A J
A A O
MAN
J A J
MA 8
MA N
A A O
J A J
A A O
J A J
F A A
MAS
A A O
A A O
MA 8
J A D
J A J
A A O
J A J
J A J
85 b.
100 b.
'101 b.
■102iaa.
102 isb.
lOliflb.
• 97 b.
74 a.
117 b.
67
12714b,
100 b,
101 %b,
118
106 14b.
111%
118 b.
IO514
104 18
130 13b.
114 b.
13Uis
13313b.
Range (sales) in 1897.
Lowest. I Highest.
lOOia Jan.
101 Is Jan.
A A O
J A D
J A D
MAN
A A U
F A A
Q-J
Ci-F
MA 8
J A J
J A J
J A O
MAN
J A D
A A O
J A J
J AD
J A J
J A J
MAS
MAN
J A J
Tenn. a I. A By- Ten. D. lat, 6g
Birmingham DIr., 6 g... 19 17
Texaa A Paolflo— lat, 6g. .2000
2d,lnoome, 5 g 2000
Toledo A OhloOent.— S g. .1935
ToL St. U AKan. a— e g...l9ie
Union Paolflo— 6 g 1898
Ext. alnklng fond, 8 1899
Collateral trust, 4ia.....l918
Gold es, ooL trust notes. 1894
Kan. Pao.-Uen.DlT.,6 g. 1899
1st oonaoL, 6 g 1819
Oregon Short Line— e g.lBa2
Or.CLAUVhN.-Oon./gl»19
U.P.Den.AGaU,oon.,6g.l939
U. S. Cord.- latooL.e g...l924
U. 8. Leather— S.F.deb.Utj'.iyiy
Virginia Mid. -Oen.M., 5a. 1936
WaSaah-lat, 6g 1939
ad mortgage, B g 1989
WeetN. -T. A Pa.— lat, 6g.l987
Gen. 2-8-4a, gold 1943
Weat.Un.TeL-CoL tr. 5a.. 1938
lll%b.
100 b.
1061a
72
104 >s
72 b.
, 106 b.
Wlao.Cent.Co.lBt5g....l937'J A J« 38
A J
A J
MAN
MAN
J A J
A A O
J A J
MAN
J A J
MAN
J A J
J A J
J A D
J A J
MAN
J A J
A A O
A A O
J A J
J A J
MA 8
J A J
MAN
J A J
A J
A J
A J
A O
A J
A D
March
J A J
J A D
J A J
MA 8
MAN
F A A
MAN
MAN
F A A
A A U
J A D
J A J
MAN
MAN
MAN
F A A
J A J
A A O
J A 4
89I9
108%
102
117 b.
113isb.
f 78
t 55
117 Jan.
66% Jan.
1271s Jan.
100 Jan.
lOfe Jan.
II714 Jan.
106% Jan.
1115, Jan.
117% Jan.
105 Jan.
103% Jan.
139 'a Jan.
1331s Jan.
88% Jan.
108 13 Jan.
100 Jan.
117 Jan.
t63 Jan.
113 Jan.
lOOia Jan.
lOHaJan.
117 Jan.
671a Jan.
1271a Jan.
100 Jan.
102 Jan.
118 Jan.
106% Jan.
111% Jan.
117% Jan.
106 Jan.
10414 Jan.
140
134
Jan
Jan,
178 Jan.
1 543s Jau.
f 41-8
35 b.
85%
52
4214b.
105
102 b.
88 b.
t 15
81isb.
181a «.
lioiab.
81
108 b.
99ieb.
100 isb.
125 ;
t 8OI4
f 47
t 331s
f 33I3
70 b.
73%
148 b.
112 b.
107 %b,
63 b.
e» b.
251s
II814
123 b
102 lab.
88isa.
55
94 a.
91 b.
■107 b.
85%
1021a
89%
891a
107 b.
107 >s
108 b.
114 a.
11838
110 b.
81 b.
85
86
21ie
104 b.
69i«
103iab.
85 b.
49 b.
100
113 b.
691s
111218
\ 64%
1 40 Jan.
8.Ma Jan.
51SsJaQ.
141 la Jan.
1041a Jan.
90
t'14
Jan.
Jan.
110
80
Jan.
Jan.
1 80 Jan.
tl6i4 Jau.
136 Jan.
I3214 Jan.
73% Jan.
^47lsJan.
112 Jan.
108% Jan.
63 Jan.
251s Jau.
116% Jau.
123 Jan.
1021a Jan.
891a Jan.
108% .Tan.
102 Jan.
117 Jan.
163 Jan.
1131s Jan.
178 Jan.
15514 Jan.
142 Jan.
86 Jan..
5214 Jan.
( 4238 Jan.
105 Jan.
90 -Jan.
1 15 Jan.
llOifl Jan>
81 Jan.
18038 Jan.
14718 Jan.
t35i8 Jan.
1 331a Jan.
74 Jan.
f 491a Jan.
112 Jan.
108% Jan,
63 Jan. .
55 Jan.
93 Jan.
2519 Jan. !
II8I4 Jan.
123 Jan.
102 13 Jan.
56 Jan.
93 Jan.
8514 Jan.
102 Jan.
89 Jan.
107 14 Jan.
107 Jan.
1071s Jan.
112 Jan.
117% Jan.
85 Jan.
85% Jan.
19% Jan.
105 Jan.
1 69i8'Jan.
103 3i Jan.
100 Jan.
1131a Jan.
167 Jan.
mi%Jan.
(6313 Jau.
35 Jau.
111% Jan.
IOOI4 Jan.
106 Jan.
7OI9 Jan.
1041s Jan.
46% Jau.
85% Jan.
1021a Jau.
90 Jan.
IO714 Jau,
107'eJan.
110 Jac
112 Jan.
1181a Jan.
85 Jan.
8618 Jan.
21 >s Jan.
105 Jan.
1 691s Jan.
103% Jan.
100 Jan.
1131a Jan.
1 69''8 Jan.
I1318 Jan.
1 65 Jan.
361a Jan.
111% Jan. :
IOOI4 Jan. I
1061a Jan. I
7212 Jan.
1041a Jau. i
46% Jan. I
137 Jan. 1138 Jan.'
MOTB. "V
from aotoal sales only. * Latest price this week, t Tnut (eoelpti>
:NEfT TOBK STOCK EXCDANaE PRICES— (Continued).— Iif4CrjPr£? BONDS-JANUASY 8
BK<JURITtE8.
Bid.
Ask.
SECURITIES.
Bid.
Ask.
BECURITIE8.
Bid.
Ask.
Railroad Bonds.
Bali A Ohio-58, gold 1925
Cons, mort., gold, 58 1088
W Va. APitU.--«t,g., 6a..l990
B. A 0. 8. W.. lat, g.,4isa...l990
Monon. River, lnt,g.,g.5s..l919
Oent'l Ohio Reor.— lBt.4i9a.i93O
Ak.ACh.Juno.-l8t.K.5B,gu.l930
Brooklyn Elevated— 2d. ."Sa... 1915
Seanlde A B.B.— lat,R,.'Ss,gn.l942
Br'klyn Rap. Tran.— Gold, 68.1945
911*
92
Brunswick A Wn— Ist, g., 4b. 1938
Buff. Koch. A Pitts.- Gen. 5b.. 1937
Boeh. A P., lat, 6b 1921
Boch. A Pitts.— Oon8.l8t,6B.1922
Buff. A Susqueh.- iBt, 5s, g..l913
BurL Oed.Bap. A No.- lat, 5a. 1906
Oonsol. A coUat. trust, 5b.. 1934
Minn. A 3t. L.— lat, 7a, gu. . 1927
Ced. Rap. I. F. A N., lat, 68. 1920
lat. 5a 1921
♦97
120%
117
100
(Block Kxekang* Priees.)
.^
AlAbama Mid. —iBt. g^ guar. . 1928
117%
jMh. Topeka A Ban Fran.—
Okloago A At. Lou.-lat, 6a. 1915
ON. Mid. liit,g^ea 1936
AtL A Pao.-2d W. D„ go. 68.1907
_Waatem OtTlaton ineome..l910
Aut.AOhlo- 1st, ea. Park B. 19 19
...
•871s
105
*
103
■->■*•
iim
"i"
111%
*
■77"
46
•10219
•102
76
THB CHRONICLE.
[Vol. LXIV.
nn losc «r«c* •icti.'wi nict!i.~iiA<ynvB BOMoa-f\M»i^%mi}-jA.wuARY s.
|»u.|am.|
UOUBXTIM.
KT.AT.B.-
Ut6'.tMt
law
'M>iu..in«
!•- Mokdfc ••.... IWWi
^llWM «M.>— IM, •• . I gg)
' :eidi|l
M .iiir.
isr
■•■•••
idt;;
101*
.■••H
— •.
'ta-LVLL *a— Iiut.,4<.19:i<
'• i»ao|
»». *•.— 1« ur.Ts.i»<M
Okt* U4.A W.- Ui pr«r. 6*. . IMS
CL OilfaB. • Ud.-Ul. 7M-f->9M
•»7
•SS>a
1«»7
m"
1U4
IM
:m
lo*
1.U
lo7
116>*
loe't
loi"
ll6<s
108S
••.IVISMOO
trud.u i»i9
_ IMi
■ * lows Ulf .-a*. . . 1905
. . m U4iua Oa^-IM te.isae
tLTt-lOt. p. D „!•••
I.'. T«. » «.. K- D 19M
l>t.l. * Jl.,7» 1W7
I 1.1. » D..7» 1
>.t.C AM..7* »»»»
!•«. I. * D.BtlM«tam.7«...l*M
ItULal-AUaT-.S* 1910
liCU^ I>..7t 1910
IM.U * D.. S« 1910
.•MMvAraoiae Dit.,««..1910
xiMnlPolBlDlT.S* 1910
g * U •■». INT., 5a. 1931
fci T— r fn^T~~" T- •"■•'
Hm»> StTlMik.. to.... 1916
■L*««r.a>tB !!•»-«•.. .1910
CfekkAaerii.-M-rMrteb.5s.lMl
■■niiihi A U a. IM. to....l901
OmILA MlBa.-Ial, ?•.... 1907
tovmMtdUBd-Ut. to 1900]
Sto. A MU«MkM-Ut, 7(.1898
9u;AS(.r.-Sd,7« 1907
«U. A IUA.-1M. to 1906
.ABC r.— Ut,»« 1909
jUL-Im, 5« 1910
.aAW.-«M.<Ub.,S<. 1907
. CMt~ lak to. 1934
1 UtUm-KC. to 198»
-D.M.Ar.D.Utto.1906
.1906
. 1906
KMkmkAOM II.-Ut.»*..1993
CMa.M. r. A MlBB.-l»t, to. .. 1918
WL fMl Afe. a-l*t. to 191(1
OU& A W. tB4.-lat. «. r., to. 1919
<f «»! ■« «« ■ « ». to 19SS
gitokA«Mt.3i3k-.s. i«;<i
Om. Bam. A O.— Odd. «. t., 7*. 1900
aiMM.i%i i-w:
OlAi Dl.Atl'B-UUK«.&«,K.l9il
gW. Ak. A (M.-A(|. A td ««. IDXV
i*.ACka.— Tr.«l(U«rlMa«. 1917
a o. A ac l< -44m.. r 4< • ■ 1 9«»
~ ' ««MM,4a ltt]i»
LDIr -tJ Ml » I U't4«4t- 1990
too
i39>(
13C>«
IIOH
1-iO
103
lus
100
108>«
135
137
"(Jo'
ISO
ISO
lie
103 >«
107
•76
98 ■<
94
ioi*
104>«
ioift<i
oSim A itak. f.-i^M/it. ,^^r
UU. UMl. A W.-Mort. 7«....l»tf7
mrf- AIM- A M. ».-l.t, 7».190t.
•*••*«•* " — - !>t,7« ...I9U
ffV- IBOo
•••f lOOl
AAILOM.-^.
A>»a«7AA>fc. -
t<(,MM., («ar
.A tor. U
_ •kAtor. l«l,«aar.,7(.tMi
P gr-Tto* 'yy-<*««-to.|{.lim»
_llMr*r«(.Ky.7-lM.««.c.to.l9li
0MV. A A. 0.-IM., c K. .
toA.9« to»to4 .**.
■ife. r.AlL-tM.7*.
■ta. A %. V.-
A«B. to
....190«
,7«.tMI
I./. 1910
1911
19SS
1911
i«.(..199»
ItMI.'i
'*-IM5*.l9S7
.1997
.1919
.193d
.t9-iu
.I03O
.1930
.1916
.190ri
.19«9
198S
-Moru. to.
• ^|<>.»«» «•. •«f«».19U
'•«. nm—^l
•<.aoM.,tol931
*• .... \*<t
la
146
19
102S
115
111
II514
100
133
loo
I0«>«
106'
107
LSI
iTf
103 >t
£9
103
I
IMif
ISO
147
|-i7l«
119
85
100
103H
i'ii
1*06
BVL Ailk.
103
114
83
76
46%
95 >«
96
106
135
i'06*
•86'
'lew
•90
103
102
103
118H
106"
99
"iz\
•a-ts
l'0>a
>c:
105 >«
I07'i«
111
11G><
luu
110>t
9J
105
A In
90% ,rih«l A P. tlw^ueiu."
Marv.to ^......IMO
IM, aoa. <<>i'l. M ...^.-...^IWw
^\. iliiroB ui*.-Ut, 5a ....19n
la. Oaa A reiL-l>l <. 5a....l918
I III MB. «., 5* .....J9«»
I. «or«k A R. O.- 1 It c., to..l93a
OaL Bar. A San Aiit.-fat.6s.1910
MBon.,7s ;.I906
OA.Ckr.AI(er.-lst.(«.Aa,ff.im ^^
■•MMoml»-OMs.(ald5*....19«7 133
I ■.aaraaADerbT. (»Ba.»«..191l
Boaa-ATriat Ccutial—
1 WaooAV.7i 190*
I lM(.,5s(lBt. rtd/ 1M7
' OOU.C. to(lDU«Ml 1913
DabMt. 6a. prlD. .» ILI. std.1897
lM>h«ai. 4s, priD. A tnt. Rtd.1897
- Uaniral-lst, g.,to...l9M
.'Old, S'-as 1951
; it 1953
'J-lUK.,4s. .......1904
Cairo Brlrli(»— 4s 1950
Bpnnff. OlT.-Conp.,to....l898
IbddlsOlT.-Baff.. 5a. 1931
a8LL.A5. q.-T<ui.l.,7s.l8?7
lat-ooni
OOld, to, WUVVi. ...••..... AW.
Maisp. DlT.,IstK. to 1951
BellT.A So. IIU gu.. X., dHia 1897
Uad. ralU A Minn.— 1 at, 7s. . 1907
lad. D. A Bpr.-lat 7s, 1906, trast
rMta.. ex bonds
iDd. Dm. a W.-l Hi, «.. 5a. . . .1985
iBd. Ills. A Iowa.-l«t, a, to.. 1939
1st, eiL, It. 5*. ._ 1943
IBUAU. Iif'n.-3il,4i-.ff 1931
Klii(sC«.-F.El.,lst,5,K.,«:a.A.1939
Utke Erla A West.-2J g., 5s. 1941
Rortb'n Olilu— l»l. ku. ic.5s.1945
L. 8. A lt.8oa.-B.AE.-Itew 7b.*98
Det. M. A T.-lst, 7s 1906
Laka Shore— DiT. bonds, 7s. 1899
Kal. AlU A O. R.— 1st ro. Ss.t938
Mahon'K OoalKa-lat,5s.l934
Lekl«hT.>.Y.-lst Ka.K.4>aa.l940
Laklidi V.TBrin.-lRt ta. 5a,ff.l941
l^i,i.,h v.- Ooai_i,t^8,(cu.g.l933
I V.-lKt. KU. r. 4S.1945
N.,lnt.i;.Utpr.es.igi4
;...-... ...id, a« 1914
Utokl. Uar.A West.-lst 6s. g. 191 6
Utile Rock dc M.-lst, 5e, K..1937
Uaag Island-
1st, 7b _ 1898
Ferry, 1st, k., 4>ss 1932
Oold 4s 1983
a. T. A K'way &-llt,g. 6s. 1927
3d mortg., ino 1937
R.Y.B.AM.B.-lstoon.5s,K.1935
Brookl'nAUonuak— lst,6s.l911
1st, to 1911
■o. Shore Br.— 1st oon.5s,K.1932
Louis. Evans. A St. L.-Oon.5s.l939
LoaU.Allash.-CeoU. Br. 7s.. 1907
&B.Alfaah.-lstto, g....l919
Paaaaooia Dlrlslon, to 1920
St. Louis Division, Ist, to.. .1921
2d, to 1980
■sahT. A Deoatur— lit,7s..l900
"*. (..6a.-8. A N. Ala 1910
iSOTear 5«. (?., 1937
I'ens. A AU- lat, 6s, gold. ..1921
Collat. trust. 5», e 1931
1..AN. A M.4M.-\«t.g.,4>»8l945
Nash.Flur.A8.— Isl, t;u., 5s. 1937
Kentucky tVntral— ts, g...i987
.A>u. AJeO.Bdxe *;•).— iJu.g,4s. 1845
Loii.If.Alb.AC'li.-Ueu.m.«.5s.l940
Memphis A Cbarl.— Us, ko Id.. 1924
Mexioan Cent. CooboI.— 4b, g.l911
lst,euur, looooie Sn, g ..1U39
Mex. latfrnallonal- 1st. 4s,g.l942
Mexican NsUonsl— 1st, g.,tta. 1937
3d, Inoome, 6s, "A" 1917
3d, Ineoiue, tfii, •■ B" 1917
Mloklxao Central— to 1909
0»npOB,5^ ..1981
!J«»«%pMteto 1940
BaLCAStrgla.— lsi,3B,g.gu.lU89
Mlnn.A HU L.-l«t. g. 7s 1937
to«« Eit«nalnn, l->t,7» 1909
eouthweat Kxt.-l«t, 7s 1910
.''^'i'.,''*'-"*"'''*' '»2I
.•Jo.K.ATex.— Ut, eit, .">», g.l941
Mo.&.AT.ufTex.lst.Ku.»s.ir.l942
Kansas Cliy A P.. 1st. 4s, g.. 1990
Dal. A Waoo— 1st, .'>ii,gu.... 1940
Missouri Puflllo — lYust 5s . 1917
Bl L.AI. M.-Ark.Br..lBt,7».18»5
Mobile A Ohio— 1st ext., 6b. .. 1927
St. L. AOairo— is, guar 1981
Morgsn's L«. A r.-lst,to ...1920
'•b Tt- .—..". ■: 1918
nasb. Ohat. A St. L.— Sd, to.. 1901
». O. A^Ho. k. -Pr. 1., g.*, to mi
Jl. J. Jnno-Ouar. 1st, to...l98b
■•aok Crmk- 1 si, »old, to. . 1936
Osw. A Hume— 2<l,Ss,g.,ga.l916
««?•*»' tt'y.-i»,g.g2:iS28
a. Y. ■. H. A a.— Isl, rev. tB.1903
B. Y. A NorttMro-lst. g. 5e..l927
«. T. Saaq. A Waat-ad, 4iw.l987
Oaa. aorv, 5a, «...._...„ imo
Wllk.A Kaat-^Jtiw:,. - -"^
5P*!?'?*A''^-1"'' 8* 1931
Sl-Paqi A n. P.— 'J„ii., 6a. .1933
lis
«6>t
107
i'06'
102>t
35
100 >«
•30
107 >«
112>«
106
107>4
100
■"95'
85
■•'4'i*
99^
25
40
lot's
104 <«
104 >«
i'o'7'\
111
95
116>i
'100
iss'
120
74
65
100 1
114
•80
111
123
101 >•
103*
•ioi'
100
106
88
42lt
110
100 ••
85
88
uooBmu.
125
75
70
11M>1 131
"67
73>«
89 I
134
Morthem Paclflo—
RnlenaAItedM'Q- 1st.(..to.l937
Dul.A Mav.— 1 si.r.ev.tr.reo. 1986
n»k. DiT —1st 6-, tr rro..l98?
0>nrd'Alen»—Irt,(s, gold. 1916
C. d'Alentv— Oea. lsl,g., 0a..l9ai<
Rorlalk A Moutk'n— Isi. .S«.r.l»41
Norfolk A W«at.-Q«nenil,6r.l931
aew River Itt to 1982
Imp. A Ert.,6a. 1984
AdmaUDeBtM..7s 1934
M<t A Wash. I>lv.-lst,g.5s.l9tl
Beloto Val. A M. E.-lst,to,.1989
Oklo A MISS
Coosol. 7s ..1898
SdroDSOl. 7b 1911
Bprtng.Div.— lBt7B 1905
General to ..1982
Oklo River RR.— 1st. 6b 1936
0«a,g.,5s 1937
Omaha A 8U Loala.— 1st. 4s.. 1987
Oregon A Callfor.— Ist, 5s, g.l937
Penn-P.CC. A8t.L.Cn g.4iss A 1940
Do do Ottiw B......
P.aAB.L.-l8t,6.,7B 190<.
PltU. Ft. W. A C.-lst, 7b.. .1912
2d, 7s 1912
Sd, 78 1912
<ni.8t.L.AP.— lst,coti.5s,g...l932
Clev. A P.-Cons.,B. fd.. 7s. 1900
Gen. 4>«s,g., "A 1942
Bt. L.V.AT.H.— lat,6B.,7B.1807
Sd, guar., 7b 1898
Qd.a>I.Ext— lst.4ias.«4.g.l941
Alleg.Val.— lien., gn., 4s, k.1943
Peona A Pek. Union— 1st, 6b . 1931
3d mort«.,4i*s 1931
Pitta. Cleve. AToL— Ist, to..l922
PltU. A L. Er.— 2d g. 5a, "A". 1928
Pitta. Mo. K. A Y.— Ist «8 1932
PltU. PalDsv. A F.— l8t. 58. ..1916
Pitta.8hen. A L.K.-lst,g.,5a.l940
IstoonBol. Sb 19A3
Pitta. A West.- M. 5a,g.l891-l941
Pltts-Vgafn AA.— 1 at, 5s.oon. 1937
Rio Grande 80.— 1st, g., 5b... 1940
at. Jos. A Or Is.— 2d ine 192S
Kan. O. A Omaha— 1st, 5s.. 192
Bt. L. A. A T. H.— Term. 6b. .1914
Bellev. A Car —Ist, to 1923
C1it8tL.APad.— lBt,gd.g.5Bl917
Bt Louis 80.— lat. giL g. to. 1981
do 2d Income, to. 1931
Oar. ABhawt.— Istg. 4s 1932
Bt. U A 8. F.— 2d 6a,g., ol. A.190<
•2d, 6b, g., class C 1906
ueneral ba 193 1
1st, trust, gold 5b 1987
Ft 8. A V. B.Bg. -Ist, 6s. ..1910
Kansas Midland- lat, 48, g.l937
BtPaolClty Ky,oun.5B,g...l937
Gold 5s, guar ..1U37
Bt Paul A Duluth— lst,5s 1931
2d mortgage to 1917
Bt Paul Minn AH.-lat, 7s. .1909
2dniort.,68 190^
Mlnneaii. Union— Ist 6« 1U2V
Mont. Cvn.— lat, guar., 6<.. 1937
iBtguar. g. 58 1937
■ast Minn., lat dlT. la' 5s.l9U^
W"n RriirtlouxF.— Iat,g,.^a.l93-
BanFran. AN. P.— lar.g., rj.igi--
Bav.FLAWest -Ist, oun. g.tia.lMSi
Souihern— Ala. Oeut., let (is. 191''
AU. A Ohw.— 1st, preL, 7s..l8»7
Inoome. to 1900
Oolum. AGreen.— 1st., 5me.l91t>
£. lenn. V. A Oa.— Dlvt8.5B 1930
Bloh.A Dan.— £q. a. L g. 5s.l90»
Deben. to, stamped 19'.27
Vlr'a Mid.— aerial ser.A, tiB.190ti
Berlea B, to 1911
Series C.6b 1916
Series D, i^Sa ..... ...1921
Berlea V, 5a 1931
Waah.O.AW.— lstour.gu.4s.1924
Ter. Aa'D of 8t L.— Ist, 4>«a.l93'
Ist. con. ic. 5a 1891-1941
StL..M»r.Br.rerm.,g.58,KU..19Ju
Texas A New Orleans— lst,7s. 190^
toolne Division, lat. to 1912
Oonsol. 5s, g. ._ 1943
Tex. A Pao., K. D.— Ist, g. 6b.1)*0^
Third Avenue (N.Y).— Ist58, 1:)3:
T.AO.C— Kan.AM., Mort 4e.l9Uo
Tol. Peo. A West— 1st, g., 4s. 1917
Ulster A DeL— lBt,oon.,ti.,5s.l92.
Onion Paoiao— lBt,to 189b
1st, to...... 1897
1st to 1899
Collateral Trust, to 190-.
OoUs'enU rnut, 5b 190'
Kaoiao Paolflo— Ist 68, g. . . 189iS
Ist, 6b, r 189b
0. Br. U P-F. 0., 7a 1895
Atoh. Col. A Pao.— lat ea...l90n
Atob. J. Uo. A W.— Ist 6s... 190.?
O. P. Lin. A Ool.— l8t,g.,68. 1918
Utah A Noru.— ist 7b -1908
Gold, 5s 1920
Otah Southern— Gen., 7t ..1909
Bxten., let 7s 1903
Wabash -
Debenture, Ber. A .........1939
Debenture, Burins B... 193 <
Det AUhio. Eztlst 58, g .1940
•t L,.K.O.Atr.-8tC.BdK»6a.l»0'4
West N.Y. A Pa.,gen.g. 3-3-4a 1943
Inoome 5a 1943
WMt Va.a A PltU.— lat, to. 191 1
WbeouAUE.— lat 58, gold.. 1<»W|
Wheeling Olr., 1st, 5a, g. ..1923 *
Kxutaaiiiii di Hup, g., as 19 lO
Wis, Oeut innuiim ^" . ...It>?7*
Bid.
SO
•'«'i'
100 Is
I'l'o's
100 >fl ,
Aak.
67
68
83%
103
111
95
lOSIf
115
i'do"
•85
46
'90**
55
108^
109"
109
136*
135
i'li"
111
Vii"
132
'".'.'2
110
74%
96 >«
•103%
00
112
li2
94
i'o'i'
•85
i'os'ts
lus
118%
lis'
ib"5%
•97"
109 >«
"io"
78
85
97
105
98
99%
80
95
114
103%
100
100
»*MMriUart lfeaMat«UMMw»4aMMtoaaBa.UUkUWMk. Vor fllaaaUaaeaaa auttds-See 3d page preaadlngl
•
80
107
109
•108%
106%
*....••
105
• ■>••<
•■>>••
92
•106
121
70
78
67
luo
102
1)13%
103 >«
— •«
1031
105
75
85
lOi
108%
110
111%
•34
27
27
34%
111
■••••■
-*>*••
63
- •-•■
63
64
21%
33%
96%
105%
• ■•••
47
12
--•>•>
92
91
-■•••
9
I
Janpary 9, 1897.]
THE CHRONECLE
77
Ittujcstmewt
aud
RAILROAD EARNINGS.
The following table shows the gross earnings of every
STEAM railroad fromVrhich regular weekly or monthly returns
can be obtained. The ilrst two columns of figures give the
gross earnings for the latest week or month, and the last two
oolumns the earnings for the period from January 1 to and
including such latest week or month.
The returns of the street railways are brought together sep-
arately on a subsequent page.
BoAos.
Latest Oroee Earnings.
Jan. 1 to Latest Dale.
Week or Mo
Bo ADO.
Adirondack
Ala. Ot. South.
Ala. Midland . .
Ala. N. O.Tex. A
N. Orl.iN. E,
Ala. & Vioksb,
Vlpkg. Sh. & P.
Allegheny Val
Ann Arbor
Ark. Midland.
Atoh. T. & 8. Fe.
Atlauta & Char.
Atlanta 6i W. F.
Atlan. & Uanv.
Atlantic &. Pac.
AoxtutaHout'n
AoaCinAM'ffest
BalcCbes.AAU
B.AO.K.O. Kiv.
WestOhloRlv.
Tot. gyotem.
Bal. & O. Sou'w
Bangor &Aruo8t
Bath <h Ham' nils
BIT. & Atlantic
Brans w'kibWest
Baff.Kooli.iS[Piti
BoSUo J[ 6U8q..
Bor.C. Rap. dj X.
OanadlanPaoltlc
Oar. Midland
Cent, of Georgia
Central of N.J.
Central Pacltlo.
ObarL CI. & Mat.
Obarlest'nifeUav.
Otaes.it uhlo...
Ctaes. O. A So.W
Ohlc. Bur. & Q.d
Ohio. & East. III.
Ohio. Ot. We«fii
Ohlo.MU.<tSt.P.
Ohlo.AN'tliw'n.
Ohlo.&Mo. Pao.
Ohlc.Peo.ifeHt.L..
Ohlo.K'kI.<fcP..
Oblo.Bt.P.M.&0.
Chic. * W. Mich.
Cboo.Ok.d^Uuir
OlB.Ua. A Poru.
Oln^IaoLA Mao.
Oln.N.O.AT. P.
Oln. Ports. * V.
Olev.Can. ASo..
OLClu.Cl».a(St.L
Peo. Jk Eust'n.
OLtAr.AWbeeL
Ool. Midland...
OoL H. V. A Tol.
OoLBand'/dt U.
Cblusa A Lake..
OrysUl
Oamti'l'd V'alluv
Denr.A Bio Ur.
Dm M. a Kan.o
l>eLM.N.AW..
DetXans'gANo.
I>et.A Maokliiac
I>aluthS.ti.JEAtl.
MlgiaJoLScl-.o ■'
Brie
Eureka Siiri
■Yan«.Ariiu ,..
Bvaus. A Kioii..
Crauar.iSt 1'. il.
FltolibuTij
rum. AP..Marij.
Fla.t.'ent.AI'nn.
FUU'thJilJeQ.C.
rt.W.*KloUr.
Oada. * Att. U.
Georgia BR
U«>urKla A Ala..
Oa. CVr'la A So.
Geo. Bo. A Kla..
Or. Rap.AIud..
Cln.H.AFl.W
Traverse City
UuB.O. K.At.
T.it. all llDex
Oranil Trunk..
Chlo. A lir. Tr
I>et.Ur.lI.d:.M.
Oln.Bag.AMiui
Tol.a.,£Mu>ik j
Great Korth'n-
. Bt. P. M. A M I
Baslof .Minn. .
M'lriTanaCnrit.
Tut. system
Oalf ACUIoaKO.
O'lfB-matAK.C.
Bous.TiiD.AWlL
Latest Oross Earnings.
Weekorilo 189(J.
October. ..
1th wk Dec
October. ..
Pao. Juno.
2d wk Deo.
2d wk Deo.
2rt wk Dec.
November.
3d wk Nov
October- ..
November.
October. ..
October. ..
tth wk Dec
1th wkUot.
October. ..
September.
Novemlier.
November.
November.
Novetijber.
4tta wk Dec
November.
November.
.Vovember.
October. ..
ttbwkDec
November,
tth wk Deo
itb wk Deo
November
November.
November.
October. ..
October. ..
October. ..
1th wk Deo
July
November,
(th wk Dee
1th wk Deo
1th wk Deo
13.691
18,126
62.832
33,000
17.000
11,000
176.998
21,812
10.880
2^031,901
173,S90
51,668
7,311
95,890
9.9t8
27.805
32.900
1,61.5,608
511. ilO
2,1.57.118
205.837
61.108
6,108
2.198
53,858
77,806
49.001
110,975
691,00(1
.5,185
502,282
1,118,621
1,830,338
4,780
42,323
366,183
178,57i
2,8J3.308
87.520
118,735
815,112
1895.
November. 3,4 <8,831
October.
November.
December.
November.
Itbjwk Deo
Ootober. ..
November.
1th wk Dec
Novell! iier.
Novomtter.
3'1 wk Deo.
1th wk Doc
November.
1th wU Dec
November.
.VovemlHsr.
Novemlier.
November.
October. ..
October. ..
1th wk Deo
3d wk Dec.
Novemtier.
Itb wk Doc
October. ..
34 wk Dec.
3rl wk Dee
nil wk Dec
Noveiijlior.
3 1 wk Dec.
3.1 wk Dec.
tth wkNov
Nuvemlier.
Novem)ier.
lih wk Dec I
tth wk Deci
8eptemb'r.
Novell! berJ
1th wk Dec!
1th »'k Dec
Itli wk Dec
tth wk Dec
1th wk Dec
Itb wk Doc
.M ws Deo.
M wk Dec.
.Id wkDcc.
3d wk Dec.
noectiihor. 1,273,1891,192,513
De.^eiillier. 137,610 181,998
Oii.iiiiier.' I6ii.i81i 138,723
De.eiiibor. 1,577.390 1,813,23 1
>ov..iuber. 6.190 5,810
Diirmber.l lO.iOli 7.201
Novniolier,' ^ 3.218 6.034
72.153
67.718
1,237.136
751,161
33.100
135,190
4.760
19,695
280,zl8
23.117
10,932
423,H58
111.391
27,.".35
158,813
253,951
61,221
1,300
510
75,233
161,700
2,188
32,194
31.006
19.268
23.173
82,850
.',871,32^
6,.f72
8,195
1,753
28,011
(W2.0()'
65,356
41.218
89.386
34.925
827
50.370
21,896
91.630
71,050
46.531
10,132
752
3,651
61,069
481.707
65.299
19.527
3,179
l,511i
16,707
51,968
62,571
40,000
16,000
14,000
231,260
22,005
15,512
2,804,613
199,663
54.866
7.895
89,177
8,467
21.858
35,100
1,558,593
525.236
2.0H3.829
107,33
56,749
5,175
8.239
49392
85.351
42,317
91.100
015,000
1,890
518,637
1,279.681
1,335.228
5.0.5O
38,911
288.230
196,818
3,201,987
77,183
101,842
790,652
3,087.368
67.040
79.338
1,277.811
831,525
3;J,977
101,722
5.017
18,731
317,750
27,709
12,838
886,175
168,972
30.675
143,40^
272,187
75.005
1,200
1,111
87,201
187,90U
1,855
36,602
23.583
21,797
35,872
Hl.r.»6
2,938,976
5.021
7.658
2.161
29,931
672.971
46.016
38.300
21.008
62,716
938
53.393
12,1-3
87,318
78.100
56.362
10.633
829
8,176
70.802
103. 103
62.762
16,021
2,601
873
Jan. 1 to Latest Date.
1896.
S
165,331
1,528,128
521,363
1,247,992
561,906
535.618
2,112.287
1,013,126
75,900
36,925,391
1,283,661
426,601
511,115
2,912,178
61,375
190,975
450,369
1895.
6,157,467
658,828
35,575
21,521
503,365
3,339,531
193,059
1.150,031
20,678,726
55,360
4,686,001
11,831,3.55
10,138,893
46,195
466,326
10,372,298
1,282,533
31,221,103
3,802,13
1,652.032
31,352,283
29,730,719
685,151
817,294
15,121,698
7,196,239
1,615,018
$
165.344
1,6.51.235
118,687
1,315,310
5'.iu,(i5G
507.065
2,355,637
985,122
84.035
26,096,110
1,337,079
332,611
555,5;i8
«,962,0O7
■ *5,5»5
182,097
465,879
56,171
706.356
8,067.568
251,177
685,969
13,008,622
1,553.023
l,281.8.i2
1,612,191
2,271,0;»4
712,932
17,991
9,753
69 ''.267
7,221,111
112,881
105.2.5.5
1,166,195
3.'.6,8.0
1,861,030
1.278.103
28,563,958
16,317
28", 329
113,533
1,056,615
6.713.637
2,513.561
l,!).5rt,011
896.518
297.133
9.738
1,558,875
866,08.;
630,177
80.5,616
1,805,186
393,011
41,283
131,917
2,151,128
18,53 1,530
3,017,082
927,196
6,448.051
676,100
32,235
20,969
129,977
3,053,112
3!»3.151
4,50l,3;i3
18.911.030
16,155
4.566,1175
12,015,171
10,871,977
39,851
439.859
9,791,321
1,295,181
30,736,170
3.87:j,7-(8
1,08H,572
30,60-', O.)
28,888,613
633,755
851,592
1.5,333,125
6.819,610
1,700,897
60,581
036,211
3,369,986
256,176
062,:i33
13,976,705
I,s20,l03
1,165,537
1,5c 1,3 18
2,116.275
797.762
17,277
7,103
710,0;»0
7,276,368
95,8 J S
311,192
1,139,7,10
30^,876
1,771,1116
1,172,078
28,113,3i)5
49,541
302.309
111,868
l,0!t3,.l<>l
b. 783,393
2,133.18 .
1,856,009
981,911
361,381
8,3l3
1,357,760
195,117
179,116
731.122
2,071,112
117.61I.T
13,980
116.101
2,682.831
17,818,719
3,707,210
971,o31
Hoa8.*Tex.Cen October. ..
Dllnois Central. November
I ud. Dec* West. 3d wkDeo
Inil. 111. & lowa.jOctolier. ..
Iu..feOt.North'D' 4 th WkDeo
;iuteroo. (.Mex.),Wk.Dec.iy
Iiiwa Central... 4th wk Dec
Iron Railway. .November.
Jack. T.& K. W. Ootober. ..
Jamest'n&L. E. October. ..
15,771,86lll4,890,328
1,933,713 1,675,382
1,928,189 1,560,676
19,632,093 18,126.316
42,732 41,918
97,315 74,037
41,5.54 43.037
Eanawha.)fcMich
K.O.F.SoottAM.
K.C.Mem. & Bit.
Kan. O.N. W....
Kan.O.& Beat.
K.C. Pitts. & Q
Kan.C. Sub. Belt
Keokuk <& West
L. Erie All & So.
L. Erie & West
Lehigh & Hud.
Lex'gton&East
Long Lsland ...
Los Ang. Term
Louls.Ev.&St.L.
Lou.Hen.A;8t.L.
Louisv.&NasIiv
L(iuls.N.A.&Ch
-Maoon&Blrm..
Miinlstlque
Memnhis&Chas
IMexicau Cent,.
Mexieau luter'l.
;.Mex. National.
Mex. Northern.
;.\IeiioanR'way
Mexican So
Middle Ga.AAU,
Minneap.&St.L.
M.St.P.&S.St.JI.
Mil. Kan. & Tex
Mo.Pae.&Ii-oii.M
Central lir'ch.
Total
Mobile &Blrm..
MobUe&Ohio..
Mout.AMex.Gl(
Nash.Oh.&St.L.
Nol. A Ft. Sh'p'd
Nevada Central.
N.Y.C. & U.K.
.N.Y.Out.* W.
N.Y.Susq.iS W.
Norfolk He West.
Nurthes'udJa.).
Nurth'n Ceutrat
North'a Pacitto
Uoouee & West
OhIoBlver
OhloKlv.&Chas
Ohio Southern..
Ohio Valley
Oregon Imp. Co.
Orog.KK.&Nav.
Paoldo Mall.....
fennsylvanUL).
Peoria Deo.AEr.
Petersburg
Phlla. ABrla..,.
Pblta.ABead...
Coal Air. 00..
Tot. both Co's.
Ph.Read.AN.E.
PltM.ac.Ast.L.
PltU.LUb.AW'u
Pltts.BlL&L.K.
PltUb.A Wes'u.
Pitts. CLATol.
Pitts. Pa. .StF.
Toial system..
Pitt Vouug.A A.
liuiucy0..vK.C.
Kloh.Fr'ksb ttP.
Kioh.APelersb.
KloOr. South'u.
Bio Ur'deWest
Sag.TuHcolad^U.
8t.L.Keu'et.MSo.
St.L.&San Fran.
St.!,. lioutbwest.
St. Paul A Dili..
San Ant. A A. P.
ttanl.'rau.AN.P.
8a V. FU.iWK»t.
bher.Shrev.iltao.
Seab'rd Air Line
SU.Sprs.O. AU.
Sllverton
bo. ll.v.'V-Kast
St.
'. ^.A
L.-...0 ... ..Ortt.
Morgau'sLAT.
N.y.T. iiMex.
Tex. AN.OrL.
Atl. Prop'tes.6
Paciiic system
Total of all.c
Bo.Pao.ofCal.
8o.Pao.otArlz.
8o.Pac.olN..M.
Nortlieru By..
Southern By
8pok.F'lsiVNor.
Staten LBap.Tr.
8touyCl.ikC..Mt.
Summit Branch.
Lyk. Val.i'oal.
ToflbothCo'K
Texas Central..
TexasAPaolUo.
Tex. 8. V. AN. W.
ToLAObloOent.
ToLP. * West..
Iol.8t.L.AK.C
Ulster A Delaw.
1th wk Dec
3d wk Deo.
3d wk Dec.
November.
November,
itb wk Deo
1th wk Dec
3a WK Deo.
November.
1th wk Dec
November.
October. ..
Xo\-ember.
November
4th wk Dec
1th wk Doc
1th wk Deo
3d wkSepl
November.
November.
3d wk Dec.
IthwkDee
November.
1th wk Dec
October. ..
Wk.Decl9
3d wk Doc.
October. ..
1th wk Dec
1th wk Dee
Itb wk Dec
tth wk Dec
4th wk Dec
Uhwk Dee
3rt wk Dee.
December.
Ootober. ..
November.
November.
8eptemb'r.
December.
1th wk Dec
November.
1th wk Dec
Ootober.
.Voveiuber.
1th wk Deo
November.
1th wk Deo
.Voveiuber.
November
Soptemb'r.
>i)tober. ..
December.
November
November.
1th wk Deo
November.
Ootober. .
October. ..
October ..
Octolier. ..
Novemlier.
November.
November.
3d HkDec.
Uh wk Dec
1th wk Dec
1th wk Deo
1th wk Doc
November.
November.
November.
November,
Ith wk Dec
3d wk Dee.
Scptemli'r.
November.
November.
lib wk Deo
November.
November.
November.
October. ..
4th wkNov
Septeiiiirr.
October. ..
November.
November.
Ootober. ..
October. ..
Ootober. ..
October. ..
Ootober. . .
Ootober. ..
October. ..
November.
October. ..
October. ..
October. ..
Oetolier. . .
Ith wk Dec
November.
August
Noveml)er,
Ootober. ..
October. ..
Oetolier. ..
2il wk Deo.
4th wk Deo
Novemlier.
ithwkDeu
3il wk Dec,
November.
Septemb'r.
1896.
1895.
1896.
1895.
166,389| 508,716, 2,599,607
1,871,691 2,157,38S|19,085,170
10,001
66,636
129,501
13,807
37,112
3,283
24,833
3,141
15.057
80,100
37,637
28,749
423
33.882
13,072
6,818
6.851
104,765
31,138
13.717
280,168
4.581
36.861
13,184
519.190
58,401
6.579
2,191
31.258
350,909
255,331
180.131
11,967
80.195
12,283
11,155
44,126
70.034
339.603
756.000
29.001
785,0011
10,148
368,281
101,992
403,768
6,395
5,182
3,638,168
81,709
210.651
167,786
8,295
551,897
387,440
3.538
19.238
18.581
33,871
277.383
401,161
324,051
5,216,421
49,178
43,816
527,561
2,060,106
2.7o7,852
4,827.958
51.262
1,017,131
3.227
9,719
36,381
16,222
4,361
56,957
98,864
20,119
48,998
25,346
7,836
46,250
11,187
6,491
527,929
180,100
153,33
233.001
58.521
320.111
13.80'
331,876
16,882
3.674
3,599
533,047
106,916
630,U13
30,925
136.911
r 193 1 119
3,228,791
1,503,83.;
919.172
221,893
1(16.127
236,127
197,103
39,356
147,437
1 381
94.089
98 476
182.565
7,755
257,402
3,292
47,111
18,136
213,196
11.239
115,291
73,928
628.327
87.117
3,522,381
40,061
2,215,iy(J
40,815
1,716,711
4,583
39,880
25,060
260,107
10,731
461,359
76,127
4,339,131
33,486
1,156,815
21,512
253,571
381
4,225
13,513
t09,021
6,730
340.5K0
7,791
381,822
8,613
65.634
101.591
3,343,164
37,984
360,901
21.111
166,080
278,098
3,692.130
8,153
85.177
37.501
1.188,800
12,358
455,592
4«6,850
20,247,310
73,785
2,209,109
6,563
56,563
3,126
110,639
38.110
1,272,100
281,159
lO,. 03,007
231.610
2,667,097
136,870
5,215,233
52,021
625,111
62,992
3,232,716
10,661
530,960
9,217
35.015
1.992,850
55.121
3.679.811
250,1 I6i 11,746.211
636,00. 22,012,000
26,00... 731,00
662,()()> '22,793,001
10,113
371,858
101,316
491.701
3,521
3,298
4,020,817
91,790
206,009
13 •.807
6,110
684,838
324,572
2.969
20.8J7
17.27;.!
78,286
299,381
359,337
340,331
5.877,624
35.024
45,829
482.815
2274.261
3.350,686
6,834.917
69,896
1,437.250
4.596
13,697-
43.789
23.294
7.761
71.817
117.858
22.359
68,025
28.755
13.153
40.700
11.3.53
5.861
557.297
153,700
171.190
167,993
61,239
31.5.759
19,719
256,736
11,617
7.037
1,363
551.729
122.256
640.215
26,897
163 665
^305063. 1
3,291.565
1.756,190
1,001,917
260.903
1 16,126
205 365
5;I2.731
29,1'21
153.0'20
1877
111.1.50
91.246
202,35(6
11,677
253.196
3,1^6
13,507
23,-,i96
163.348
328,101
3,711,892
935,180
4,571,011
26,231
11,075,028
3,8.50,101
2,067,752
10,939,919
52.032
5,766,482
18,717,816
33,077
9B6,639
170,730
645 6^7
256,687
2,720,563
3.579.624
56,901, ;7 2
885,370
608,937
3.681,581
16.885,701
18,936,684
35 833 385
632,392
13,134,406
39.685
617,930
1,658,946
73 ,041
380.012
2,823.886
1,311.*<30
269,229
642,460
313,103
417.390
2,331,. 9
82,119
5.603',938
4,867,518
1,1-29,350
1,B99,017
693.510
2 822,.^68
272,811
161,639
2.849,564
18,651,033
163,821
633,007
3,2^8,229
2,202,884
1,679,702
45,038
331,843
455,390
4,380,393
1,089,791
223,715
4.584
533,335
277,769
868,937
71,238
3,519,104
399,161
175,471
3,791,988
137,593
1,505,434
444,585
19,809,198
2,272,643
65,847
113,314
1,221,971
9,194,217
2,378,669
4,464,324
570,674
3,118,995
470,816
1,901,572
3,132,884
11,OKO,135
22,672,004
6W,473
23,293,477
286,673
3,192,324
1,027,373
4,413,572
25,861
4,135,998
744 7u0
4,083,112
219,102
1.116,713
ri310;i4OU
26,133 941
11,312.13;
8,289,803
1,816.163
935,022
l,8l0.2i>0
18,573.122
396,551
810.179
38.563
788,83b
721,5ii3
1,6 1 3,3 J9
275. -^91
6,798,783
1,792.591
923,617
1,985.968
313 002
20,980
14,338,889
3,726,183
2,068.320
9,0.50,871
42,483
5,918,814
19,088,646
26,655
887,271
167,281
696.109
208,737
2,709,327
3,987,98i
58,987,572
926.777
498,717
3,586,167
17.730,961
19.998,319
37,739,28C
706,365
14,115,408
10,954
602.191
1,708,231
891.074
348.891
3,023,463
1,626,104
237 996
671,583
312 959
453,312
2.327,034
85,341
5.5"63,936
5.036,484
1,458.888
1,794,069
760 063
2 796,248
317,862
18,466
8,895 336
884.645
4.626,3if3
197,683
1.356.244
'14351353
26 982.607
46.(190,152
8,651,120
1,857.131
890115
1,618,807
18,8 18,5-29
251,-219
810.513
41,090
968.566
606 282
1,573,847
2i<8,149
7.015,307
1,830 777
966 263
1,705.316
319.158
THB CHRONICLE.
[VOU LXIV.
*«k «.T. * P» «tt w« Dm
~ -.*uart>)«tt«kDM
OMt ItU <rt I
.ATM ll»T«BkW.
•7J13
74.SM
St.«3»
83.98
ll.3«
7.908
•>T8.894
St9.8ift
818.817
«)»,019
1M.9<8
10«.T4«
S8.8i3
•».«I9
. 1 M LafU DtM.
199S.
• 8
ii.84a^>,ii.8ai,o«8
OnjOAl «.4:<i.37|
98.3811
8^».10♦
731,883:
•704S3J
•aU581
MW.OM
ft?.*«8
e89.4«0
• 18.948
831,477
476,478
18.888.811118.343.148
8.939.134I 3 810,324
ll.M3.9Uf ' lS,(i&0.904
88,986
77,7U
7,830
7,171
310,917
891.683
4e9,676
70,000 S.»e8.666
1.8 10.498
4.888.381
84.781
318.448
381,578
431.016
3.31.:.t)76
4.S73.«'2S
77.3iJ
■!*•■ 4* aot IMlad* Orwaa Bj. AJfaT., Oo. Pm>.
V LMiTlUa * 0«aalMa7lI«>»
_^. 0«DTarA
Mam Cmioa aad L«»Te»worth
AOMMhvwMtm «TtaM6iruMlBalad*tMalU0B mm<1Udm.
rTVuSMlMaalrteUaf t^MlBWklahOHlcBPMds kM
botk
/0»»— k«W8 M lh4j
of Ik* Oklo. Burllnctoo A Vartbcni Ib
rUaw8ltMll7*9*rml*dBMtaf PltMborr.
I 4IUad«8rB**B th* HoattoB A r*xM 0«atrBl.
Aaatia * IfTtt wO fm. OBOtnU Fbim a korUiVMUra and Pt. Worth
Alia* Ortaaaa.
Mi«a8 KaralBr* br WMkiu— The lateai weekly earoo
iigaiB tbeforecoiDft ar<> a^parauly lummed up •■ followc
Tot the fourth mtfk of December oar prelimiDary cutemtnt
e *«•«• 37 road*, and abowi irOO per cent increaae in tbe ag-
grecaio jTar the akine we«k last je«r.
kOt.
AIMbM * DuiTlUa.....
■■M * Okie Oeatk want.
~ . * ntMk'r
.AVattk.
Be >..
*Okio
. nilaou
Iraat Watiara.
> ItUw. * 81. PaaL
tMlokl«aa
lAMaaUaaw
.Okla.* BtL
LMatn * WbMllBf
p»i» f * BIO Oraoda.
it Laaa'c A Mortk'a
Sraaar.
* ladlaeepoaa.
ATsnaHiMta.
^j* Alabaaa.. ..
[BaptdaAIadlaaa
aMbnaUB.APt.W.
TMvataaCltr
Maak. or. Baa. 4 lad
OraM Traak of Oaa a da
iBtara'l 4 at. Bortk'a . .
lawaUtawal
~ a«ka4ltlekl«aa...
. Qlty PIttBb. * Ooir,
Kaa. at J aubiira. BaiL.
~ iBltoAWwt
atam .
Umkrr. BTaaar. * 8t. 1,
Loolar. Baad. 4 St. L..
LaalaTlUa 4 BaakrlUa. .
■aTMaa Oaairal
Harlaaa Xattoaal ,
Mlaaaapoln 4 8i. LouU,
Hlaa. sCpTa 8. 8ta. M.
Ha. Kaaaaa 4 Tazaa
Ha. PaaUe4IroaMt....
Oaatral Braaek
■. T. Oalarto 4 WaaMra
■erfalkAWaaiara....
•artkarv PaeUa
Ohla BlTsr...
k l>aa. * Braaar
1 4 Waaiara...
•I. iaaatk 4 04. Idaad.
M Laala 8aatkwa*MrB ..
iaMkara BaUwar
tteaa4Paal8a.
Talada 4 Oklo UMitrai..
Ti1ri-*i
Waat. B. T. 4 PeaaariT
r4UkaBrta...
I Oaatral
Ift7raa4a) 8,844.&7ft
Ul-oe p.e.)
1896.
8
48.436
7,314
30»,''37
77,806
110,976
68I.0M
8«e,48S
87,530
118,7Si
81!t.44S
S3,l<0
19,69A
428,8»8
37.S5fi
164,700
31,00«
8.19S
88.0 U
50J7<
91.696
46,sai
10,132
753
s.6at
484,707
139.501
S7.4ta
15.0J
83.882
13.073
104,765
36.861
18,184
549,4 90
856,909
180,181
44,136
70,034
339.608
756,000
39,000
88,709
167.7 86
887.440
19,338
49.178
56.957
7.836
39.386
160.400
497. 1 0«)
357,403
47,114
303,033
74.500
33.835
83,988
1895.
•
51.968
7,895
167.3 <1
85.354
91,400
845.000
38 m, 380
77,188
104,843
790,652
33.977
18,781
886.475
S0.e7»
187,900
33,588
7,656
39.934
53,393
13.483
56,362
10,635
639
3.176
403.103
87,417
40,815
10.731
13,541
6,780
104,S9«
87.561
13.356
46«,850
S8t,4»9
186,870
35,04'
55,424
850,116
686,000
3rt,00u
91,790
138.867
334,578
20,837
35.084
74,647
13,153
14.103
152,700
532,734
358.190
43,567
313.617
70,000
38,925
77,728
Intnmtt. t> mn tim
86.506
19,57S
4cl.0U0
78,753
10.837
13.893
84.790
138
964
87.883
7,433
587
9.413
123
478
81,604
43,064
"4,836
20,339
6,343
171
836
83,640
75,450
43,261
9,081
14,610
79,487
130,000
3.000
38,919
62.868
14,154
15,234
7,700
4,806
S,^47
'i'soo
■5,368
7.988,738 1,017,408
880,847
8
8.543
581
"7I548
3,120
33.300
1.<I20
8.023
9,831
503
3.408
700
8,081
1,589
17.890
4,317
35.636
10.584
"i'.ioo
136,658
For the third w«^ek of December oar tin&l itatement ooTen
n RMda. and ahowi 0*48 per eant loaa in the aggrefate orar
Ik* 8UDa week Uat year.
1898.
1895.
tntrtuu.
D*»r*mf.
8
8
8
8
6,788,630
6.816,974
375,694
868,088
fcairafai4Kaa. aty.
3,188
1.865
333
n» Cmx. 4 Paaloaalar.
44.318
88,300
6,918
inM Tlwu of Oaaaoa.
Chia.AerTnuk
e5,3a9
63,763
8,537
SatTor. Baraa 4 MIL.
19,537
16,034
8,603
Oa.aa«.4Maaklaaw..
8.179
3,801
432
tM.8a«.4MaakMna..
laMaaa DMatar * Waat.
1.51 1
878
888
10.081
11.389
i,i78
Sd vaak 9f Dttmktt-
Utacoeaaale (Mas.)
Keokuk 4 Waatan. ,
Maslaaa Railway
Watloan aoutbom
•k Jeaapk * Od. lalaad.
TMal r79 roadai — ..
■0-48 p. 9 '
18M.
1895
•
40,061
7,79 «
01,992
10,661
16,391)
7,oe7,4i8
43.907
6.818
80.40S
12.3»^
36.311
7,053,339
8
8,746
17,508
1,684
30.016
831,611
Of. aaM.
978
306,614
34,103
FbrtbemoDth of I>eoemb«>r79 roa<lH (all that hnvu furnished
•Utemento for the full month as yet) sliow aggregate results
aa follows ;
JTohU of Dmtmber.
9 8
Qroaa aaraliUB (79 roadi) 38,983,8 18 36,377,497
1896.
1895.
DwrtoM. Ptr ObhL
A
445,185
1-SS
It will be seen there is a loss oa the roads reporting in tba
amount of $449,185, or 1-23 per cent.
Net EarniggB loatbly t« Latent Dates.— The table follow-
ing shows the net earning>i of Stbam railroads reported this
w«ek. A full detailed statement, iocludinK all roads from
wbicb monthly returns can be ubiamed is giren oucea month
in iheee columns, and the latest statement of this kind will
be found in tbe CHBOmCLl of December 19, 1896. The next
will appear la the issue of January 2i, 1397,
-Orott Earntngi.——,
UoeuUl
Balt4 OhloBonttaw..NoT.
Jan. I to Not. 80
Jalr I to Not. 80.....
Bangor 4 Aroostook. Not.
Jan. 1 to Nut. 3i
Central of N. J.a....NoT.
1896.
8
495,620
5,601,843
8,593,748
61,408
658,828
1,148,631
1895.
8
659.374
A.»02,367
S.iOi.OiS
56,749
676,400
1,279,684
-Ifet Kaminpi."
Jan. 1 to Not. 80 11,684,856 13,046,474
Cln.Jaoli. AMaok.b.NoT. 64.993
Jan. 1 to Not. 30 614,020
ClBT. Lor. 4 Wheel... Dot. 101,580
Jan.1 tooot.31 1,115,176
Jolj 1 to Dot. 81 424,591
Oea. 4 R. Qrande.b..NoT. 609,760
Jan. I to Not. 30....
JnlT 1 to Nov. 30....
BdlsonEa.II.Oo.St.L .Not.
Jan. 1 to Not. 30
ftsorcla.a... Not.
Jan. 1 to Not. 30
6,670,814
3,201,894
162,337
1,410.031
57.950
676,403
162,786
1,197.742
619,529
706,654
6,668,868
3,459.566
July 1 to Not. 30 714,742
160,833
1,199.999
626,745
47,608
44.'>,931
230,335
39.^,794
4,147,747
2,019,607
136,370
997,107
518,443
OeorKlaA Alab'a.a..NoT. 89,393
Jan. 1 to Nut. 30 781,884
July 1 to Sav. 30 438.654
Kan.C. Pt. S. <k M.a.NoT. 383,971
Jan. 1 to Not. 30 4.094,379
July 1 to Not. 30 1,957,797
Kan.0. Hem.4B.a..NoT. 120,413
Jan. 1 to Not. 30 1,070,191
July 1 to Not. 80 631,897
Laolede Oaa-L. 00... De*.
Jan. 1 to Deo. 31......
LoulST. ETansT. 4 St. L.—
Jan. 1 to Sept. 30.... 1,142,950
LoolST. A NashT.b..Nor. 1.741,812
Jan. 1 to Nov. 30 18,408.575 18,051.313
JnlT 1 to Nor. 30 8,737,945 8,96:2,226
Mexican Central.... Not. 887,627
Jan. 1 to Not. 30 9,192,099
Hex. International. .Not. 255,334
Jan. 1 to Not. 30 3,667,097
Mexican National... Not. 474.515
(Jan. I to Not. 30 4,735,757
Mexican Northern... Oct. 41,967 53,021
Jan. 1 to Oot. 31 625,111 670,674
Montar'y4Mex.Oulf.Oet. 101,992 104,346
Norfolk 4 Wesfn.a.. Oct 902.216 971,595
Jan. I to Dot. 31 9.194,106 7,82d.''S2
JulyltoOoUSl 3,529,863 3,411,262
Northeastern of Oa.. Oct 8,295 6,410
Jan. 1 to Oct. 31 62,033 42,483
Oregon RB. 4 NaT.. Not. 474.866 382,672
Bio Grande West.b. Not. 216,291 233,485
Jan. 1 to Not. 30 3,l9g,4t2 2,208,484
July 1 to Not. 30 1,091,108 1,164,0^6
8t.Lonls4Han Pr ..Not. 527,929 557.297
Jan. 1 to .Vot. 30 5,603,938 5,503,930
July 1 to Not. 30 3,686,286 2.741.387
aoatbem Paolflo.b.. Nov. 4,503,833 4,756,190
1,081,190
1.87'',590
806.140
3,594,271
331,610
3,378,669
892.433
1896.
8
141,207
1,714,836
801. ',2 16
24,334
256,944
601. 15T
4,366,149
7,522
9:2,937
31,984
321,922
127,055
248.403
2.686.073
1,320,591
33,679
286,630
69,444
*4l,"S.b.N0
*258.06O
29,976
244,421
154,976
123,012
1,304,303
649.411
41.260
246,733
162,808
»2,023
759,973
330,100
611.088
5.860.360
2,859,296
240.606
3,151,257
107,329
995,651
e339,616
1895.
8
173,239
2,106.756
1.083.726
23,576
223,437
563,384
4,810.698
9,797
76,803
51,430
359.086
197,861
333,879
2.8 '8. 1 63
1.555,671
43.867
310,071
80,038
*286,380
*321,591
15.109
62,686
55,158
122,463
1,28 7,620
612,213
46.131
146.369
100,173
102,121
864,886
260,940
721,937
6,113,386
3,221,803
290,214
3,484,680
85,088
924,743
clS9,936
4,067,773 c2,209,115 cl,859,709
19,173
328.505
44,223
214,513
1,823,857
707,536
4,840
19,459
341,331
73,187
754,036
370.734
238,833
2,26 s363
1.215,378
1.763.456
28.636
304,147
207,173
1,708,048
849,913
2,769
7,674
110,966
891,070
503,054
242.852
2,180,775
1.158.839
1.891,413
Jan. 1 to Nov. 30 44,842,487 46.090,152 15,116,880 15,424,891
iy>lado3kOblo Cenu b.NoT. 165.010
Jan. 1 to Not. 30 1,637,402
July 1 to Not. 30 764,690
Ub, P.D.4Oair.b....N0T. 312,006
Jan. 1 to Not. 30 3.829,124
W. Jersey 4 Beaah'e..Nov. 145,903
May 1 to Nov. 30 1,783.443
Wisconsin Ceotral.b. Not. 331,066
Jan. 1 to Not. SO 3.951,892
July 1 to Not. 80 1,927,413
179,303
1,683.1 local taxca in litigation. 'Tbi*
ling large iodabt«daes<bt4 not ao^sru-td from operation.
On tbooonirary tli-1 oomoany baa ezpeo'led for real estate,
right of war and conairuotion of the {i-<aside & B. B, Elevatod,
iooludiog ihe loop, t77(,l7i in ezo^ws uf amount realised
fro n the sal-* of m'lrt^agj bjodi, of which amount $113,(^3
waa ez|>eoded in 1806 "
8latt$lie$ —Tne roeulla for a reries of rears wore aa below:
aaaaiiias. uraasta, chaboes, arc.
ia»e. iHAfi. 1M94. 18U3.
rast'grrsoarrtad.n.OOO.SI? l «0,0«S.719 83,»«0.4«3 SS,4^3.50>
• • • $
Onssaarotocn. . 1,718.«88 13.083.937 1,730,848 1.819.240
Op*r. «JWMJU-
KoUTepo».(»D«l St3J7« 631,510 380,932
Trala and utaUon
aspeaaKS 331,187 389,678 337.5^8
Malot of rir« ... M>,7At 8».0Je !18,434 } 1,096,913
MalBl. of w.y ... 49.3N9 42,189 3«,80»
UamakM paid ... 8,684 9.143 7.S40 I
UeoU mi* el. ex. 99.389 58,682 49.821 I
Total opar. exp. 1,089.988 l,isa.231 1,041.01*4 1,090,018
Kataaralii(« 6j«.69a 924,699 689,764 743,367
Fittl th'irtu —
lot. no R'klyn and )
rnton l<t ri, .. 679.000 |
!"' -,'??.■ 6?,250 i «»9,429 831,093 764.897
To' ■ r lot-
ersti. ete 172,384
Tof.flxadohar*. •Si2.0S4 •J5«.42S 831.093 764,807
Balanrs d<-f.l9J,38i sur.G),J71 deM41.332 dsr.3'i,530
'"Ptxad eharfes" Inolnde all Rcate and raiaiolpal taxts; hut the
municipal t.ixp> on tlic •truoturi* hnvK nil h»«n nild. BxoludloK Isoal
taxeaon itrueture Uxf d>>nalencv for ln96 would be 67^,235.
I loor«ia»a ilu(- to Dtrlkeon trolley roads. -V. •.S, p. JSti.
Brooklyn Rapid Traailt— Brooklyn Heights Ballroad.
CStatement for 1! month* ending Dee. 31, 1896. J
The Brooklyn H-^iKhta RR. >■., v^nici U oa'nll-il ny tha
Brooklyn R«pi 1 Tra'i-til C >., r^portn ear.iia<i« fir tbe calendar
year (DLHsemtier partly estiaiacJ) ai follovva :
1896. 1895. Inertat*.
• 6 6
Orois earologs 4.^48,761 3,987,2»S 561,465
Opt-ratloK expsasas 2.636,133 2,B3l..N0l Vl8^,S48
iret earulngi 1,912.608 1,16^,795 746,813
Otberlueoma 184,421 184,163 2S8
OroMloeome 2,097,029 1,349,958 747,070
Fixed charges and taxei 2.007,423 2,058,716 1t9,398
BorpiUi 43,f;06 def.7U6,758 796,363
1 Deorease.
The Brooklyn Queens Cjuoty & Suburban RR . also ooo-
trolKd i>y I he Rapid Transit Co., reports aa follows for tbe
stme iwt-Ue month!) :
1896. 1895. Inertate.
6 6 8
OrossearnlDKi 720,300 615,364 105,036
OparaUug ezpaiues. 4A0,70O 433,ti74 16,826
Net earnings 2(39.600 181,330 83,210
Otherineomo 4,900 23,467 1118.567
nroan Income 374,500 204,857 69.643
Fixed charges and taxes 354,714 339,013 18,701
Oedolt 79,314 131,156 154,042
t Deoraaaa.— V. 63, p. 837.
Montreal Street Balliray OimpAoy.
("Report for the year ended September SO, 1398, J
President L. J. Forget in the report says :
The past year's business shows a net profit of |463.107, aa
against $351,349 the previous year. Out of this amount two
dividends of four pr>r cent each and a bonus of one per cent
have been declared, auiuuating in all to $360,000, the balance
of $l0;i,l07 being added to the surplus. The coat of operating
during the entire year was &G'4S per cent of the receipts, as
oompared with 5M-20 per cent for tbe previous year. The
good results obtained from the conversion of the system to
electricity ar» very apparent.
Aa Che rapid Kro-vih of trafHc and tbe extensions of the
track required additional power and increased rolling atock,
your directors are now having built an additional boiler house
to supply steam to a new 2, SOU horsepower directconneoced
engine and generator. This will add 50 per cent more power.
Fifty open motor oars were constructed in the spring and 24
closed motor cars are now under construction at the com-
pany's shops. The office buildings have been completed and
have been occupie<i since May: the rooms not used by the
company are being rented to K>'0d advantage.
Throughout the year the n-hole system, power plant and
rolling atock have been maintained in first-class order and all
necessary renewals made, and aa usual the cost of this baa
been charged to operating expenses.
The following tables show the earnings for fire years past,
the income account (or the year 1895 96 and the balance
ghret of Sept. 80, 1806 :
1890. 1895. 1894. 1893. 1892.
6 • 6 8 8
Orosarao'pts. 1,245,898 1,102,778 8)6.091 750,752 564,407
Opar. sxiis... 710,865 652,812 637,608 593,043 466,645
P ct.oaresrus. 56-48 59-20 71-16 79'O0 83'68
Netfsrnluiit.. 555,038 449,966 358.433 157.710 97,763
Netlnr. p.a.oap. 11-58 1021 969 8-17 ....
I'uxrtoar'd. 39,896,471 3.'S,877,758 30,569,013 17,177.9.'i2 11,631,386
Traoifers 8,541,530 7.0.'V8.670 6,828,653 5,991.113
r.St.pass.oai'6 38-67 3728 33-20 2965
Jakttabt 9, 1897. 1
THE CHRONICLE.
81
INOOMII ACCOUNT riAK 1895-96.
DlTldandt 8 p. o.:
Paid Maj, 1996 »1«0,000
Parable .><aT. 4, 18110.. 160,000
Bonus 1 par cent, pay-
able Xot. 4, 18»1 40,000
Tranaferred to lurplai
aoot. Beot. 30, 1896.... 102.107
Total $468,107
Income wver and above
expenaes and fixed
ehiiFKea for year, ex-
eluslTe of dividends
and boaos .......
, $182,1C7
Total $462,107
BALAHOa SBBET SIPT. 30, 1896.
Aitelt—
OOBt of road and equip-
ment :
Construction, eto $2,708,976
Equlijment, eto 1,650,695
Beat estate and build-
ings
Stores
Acoount* receivable...
Baspeoae aeoounts ....
Oaan Id hand
Oasli on deposit Trlth
City of Montreal
,111.361
36,141
14,971
77
10,572
35,000
Liabili'.iet—
Capital stook $4,000,000
Bonds.5p.o.,Mar.l,1308 292,000
do 4>« p. o.,A.ug. 1,1932 681,313
UortgaKes 5.222
Ao'ts and wages pay'ble 68.016
Bankof MoDtreal 20,674
A.oorued Interest 5,170
do tax OQ oar earns. . 51,985
Bmployrs' seourltles... 3.588
UnolalmeildlvMeails... 2,06:1
Unredeemed tli>k«t8.... 15,169
Dividend and bonus
payable Nov. 4, 1896. 200,000
aurplus 200,693
Total.
....$5,545,793 1 Total
$5,845,793
Atlantic t DaiiTllle Rallwaf.
{^Report for the year ending June SO, 1896. J
The report says in part :
In the face of the uofavotable o^nditiong, the manaKement
feel that they have reason to be gratified at the regults at-
tained, which to a considerable extent are attributable to a
continuance of the policy of economy, and particularly to the
improved condition of the bridKes and roadbed and the acqui-
sition of additional equipment. The reduction io the work-
ing expenae* has not been effected at the expense of the con-
dition of the road, equipment, etc.
The expenditures upon the various improvements aggregate
9139,001. The improvements projected two years ago are
now oompleted, and the expenditure for betterments, etc ,
will henceforward be considerably less.
The means at the disposal of the mana^emnnt are ample—
the current cash assets in excess of current liabilities bMui;
over $70,000 — for the acquiMtion of addiiional equipment and
the carrying out of further improvements. The advisability
of declaring a moderate dividend upon the preference shtres
has been under consideration, but the views of some of the
largefit shareholders are that all earnings in exc-'ss nf Hxed
charges should for the present be so uiiliE>>d as to further
solidify your property, which policy will be adopted.
In the last report it was stated that " it is es'<ential for the
real prosperity of the road to extend it bevoad its present
Western terminus." It may in time become necessary to
adopt such a course ; the present intention, however, is to
undertake nothing beyond probably the building of some
branches, if a profitable revenue can be thereby insured.
StatUtict. — Results for four years past have been aa follows:
1895-96. 1894-95. 1893-94. 1892-03.
Mamingt— • $ $ $
FaMmiiier. 93,027 91,751 87,147 110,757
Freight 431,765 413,698 863,331 428,179
Hall 16,577 16.533 16.557 14.132
Mlasellaneoai 37.649 16,500 19,8(2 23.385
Total 569,018
Bxpen$et — •
Oondnottng trans portaVn.232,967
HalofnaoMof way. eto.. 7t,984
Malntenaoee of equip 69.479
General 3A,534
Taxes 22,160
538,370 4e6,777 676,4^3
821,377
94,544
46,383
23,129
231,776
130 575
9S.505
S9.SS8
33,558
Total 439,124 435.423 501,002
Vet earnings 139,894 102,917 def. 14,225
Pereent exp. tosarnlDgs. 75-41 80-87 102-93
niCOMB AOOOUHT.
1898-96.
Nst eamlnis $139,894
Rsoelver's balanoe „
Keeetved from b >ndholdsrs' eommlttes ......
284,479
137,642
77.163
59.514
24.3!'5
563,212
13.241
97-70
1894-95.
$102,947
10,598
183.621
Total ,. _ $139,894
Bettermeota... .., •
Interest. 61,900
Balaooe to Improvement aooount. 77,994
Total.
$297,166
$190,615
30,H.'S0
75,601
$297,166
B4LUICB SBBET
LiabUiha.
Preferred ttook $3,099,200
Ommonstock 2.180,800
First M. 6 p. c. bonds 1,900,000
Funds from Bondhold-
ers' Committee 32.017
Interest due July I 30,950
Other curr't liabilities . 47,.547
Reserve funds 63,35!
Reserve improv't aoot. . 193,595
Total $7,107,463
-V. 6», p. 967.
$139,894
JDNE 30, 1896.
Auef«.
Road and equipment. . .$6,647,001
Mater'ls &. fuel on hand 1^,321
BealPState 29.607
Due from amenta 20,868
" U. «. Gov't.. 4,139
Indlv. ico'a. 28.508
Rllla receivable 4e loans 27,207
Cash at bankers 68,367
Mlsoellrineoua ... 8.580
First M. bonds in treas. 262,000
Total $7,107,463
GENERAL INVESTMENT NEWS.
K«or<aniz«tiitnR, Ete. -Tjatext Ditaas to Oefaiiltn, Reor-
ganization Plans. Paiirnent of Ooeriite Coupons. Etc. — M
facts of this nature appearing since thn publicati m of the last
issues of tb" Investors' and Strer Railway Suppleue.vts
may be readily found i>y niuans of the following index. This
index doee not include matter in to-davV Chrosiclk.
Note. — Full-face figures refer to Volume 64.
E^" For some small companies see index in Chroniclb of
December 26, 1896.
I Railroad and Misckl. Go's l,Oon.)
! Votumet 63 OHd 64— Page.
Atch. Top. ^ SaniB Fe .rfcfivership Omaha & St, XiOUts coup. 4^
rase ... ..^ 879, 022. !)e7. lOflS, 40 ' OreBOn lmproTenient,..«m« Hmft. 881
i« ..,,. .ir... . 4n ' ^Q jiQtMtonplan,9i'S,lll6;reoTq. 9QQ
OreBOnS,L.& U.N coup, 838, 881
do do .sate, 1010; reorg. 4-^
Peoria Decatur & Evansv... coup. 4-.i
I'hil. Jt Chester Vul.. .bonds scal^A.lO^
Ptalla. A Read... .rtorg.TM, 838, 881, 923
do do interest. 4*i
Phil. Reail. & New Bog reoro.1169
Pitts. Shetiango tc L. E. consoi.llb9
QuiucjOmana & K. C sale.llVS
St. Joseph k Grand Island ao(d.ll6S
do do do idinstauioei
St. Louis Chicago & St, Paul, .com. 795
do do do sate,1160
St. Louis ,t San Francisco— K, C. St
Southwestern, .deposits, 795; sale. 839
St, Loula & San Francisco— K,
0, & Southwestern aomt, 001
St, L. VaiKlalia * T. H recvr. 924
St. Paul * .Northern Pacific, .reoro. 764
SandaslEy Mansf. & Newark... ciup.lOll
Seaboard Ry. of Ala ..,«o(il.lieO
Sea.Jt Roan.tr<in.p«>tpon>({.795, 839, 924
Summit Branch re&r^, pfin,1065
Terre Haute A Indianap.r«:!)r.921, 1011
Terre Haute & Lojfansport — ogm'.. 756
do deposits coiled /or,839, 1066
do forecL 4'S
Terre Haute & Peoria recvr. 9*24
Tulerto St, Louis * K, C foreclo. 756
Union Paciflccoup. 881,924, 1011, 4-J
do com.1011: r«>rg,1066
do collat. tr. r«or0,lll6
United States Car reorg, plan,lld0
STBB8T Railways.
BurllnKton (la.) Electric. forecl. 41
Chattanooga Electric controI.UU
Chic. « So. Side R. T...TenTg. p(<in.ll68
Cunsol. St, Ky..'id, Rap,. Ilich„de/ 1116
Defiance (O.; Elec L,&St,K7.r«;tir.ll59
Nashville Street cmitrol.1116
Park City Ry. (Bowling Green.
Ky,l r«;Br,1159
Pa, Trao, (Lancaster) ....recvr.969, 1011
Savannah Electric 8aJ«.1011
Railroads and Miscel. OO 's.
Votunift 63 and 64— Page.
Atlantic & Pacific, saie,ll&7 ; reora., 40
Atlantic Short Line ,,,>ofd. 40
Atlanta * West Pt. .app. for rMv.llSS i
Baltlmore&Ohio....coup.793..S)«7, 40 i
do do ..r«t)r,'sct^»,987, lOOS '
do ,,I.fMI«'» report,1009, 1010,1063
Bay State Gas recvrs,7&3; r«ct)rx.
(lisch'irged, 837i com. 987; rfcrr.lOOS
Butte H Boston Mining, .sale, lilt ;
rei)ro. plan 1158
Cape Fear & rad,Val,Oo„recw,92«, 1009
do do sale. 41
Central Vermont. ...com.108-^; def. 41
Centril Washington penaltv 1114
Chatt. Rome & Columbus S'll^.llll
Chiraigo jk No. PacaoM, K3; r<oro,l009
Cliicago A West Michigan. ...coFtp, 793
Cincin, Jack. & Mack lale.SSB, 1062
do do plan modified. 4 1
Colorado Midland reorg.1115
Columbus & Hocking C. Jt I. .reoro. 793
do do UhAlasiinstal. 968
do do defauUa-ndTecve, 41
Columbus Southern soId,lU62
Detroit L, * N, , , .lofd, 880 ; retrg. 1082
Duluth Transfer «a(f,1189
rt,VV,4Den,City,rMiir.dl<c)iari)«d. 838
do ri-ori;.— coup, pai/m'(*,lo09
Grand Uapids 3c Indiana reorg. 75*
Indianapolis Decat. \ W..decisi™. .11
Ind. ,t Lake 'H..deiioMs. 9•^2: rorfcMOOH
Jacksonville Tampa & Key W.sal<. 794
Kansas City & Southwestern., «ald,l 160
Kentucky ft ind, Br sale,1009
Kentucky Midland salt 754
Little Rock* Memi>hls sale. 880
L-iiiisville Kvans, A St. L coup, 4'.*
Louisv, N, A, « Chicago,r(on),7S4, 8H)
do do VK^ifitd plan,982, 1010
Memphis A CharleatoD cotp, 4<
Mexican National reoro. 880
Norfolk a Western .coup, pur.794, 988
do do sale o/ Sctoto VaL 880
Northern Pacific ,,.nsi«>'cur, 969
do
_ ab«(racr.so.^n«uimt(]e«,IOI2.1017
(>g, &L. Cham. rror0.794. 881, 1083, 1118 I uavannan uiectric 8aie.iujLL
do do ....tlm<<xt<nd«d.l010 Seattle Consol. St Mld.1011, 1004
do do coup, 4*Z I Streaior (lU,) Ry rwer, 970
Ohio So sate postvontd, 42; de/.ioio Tacoma Ry, & Water. sole.llfiO
Ohio Valley sale. 4'i \
\lt.i>ona I'learfleld & Northera K^.—Foreclosure Sale Feb.
t6. — This narrow- »;au<e ro id is advertisad to b^ sold at auc-
tion Fnb 26 at Altooaa, Pa., under foreclosure of the mort-
Kaue of Oat, 1,1891. The Pennsylvania Trust Cj. of Readin?
is the mortgagd trustee. The road is 13^ miles long, extand-
ing from Altoona north (Vi'sterly.—V, 63, p. 601.
American Spirits Manafactarina;— 02(i Leases Void. —
A press dispalch from Chicago, Jm, 7, 1897, says that the
Uoited States Court of Appeals his decided that the leases
mudi by the old Distilline & Cattle Feeding Co. cannot be
enforced and are void. — V, 63, p. 152.
American Tobacco.— Diriiienii*.— As stated last week, this
comnany has <i"nlarnd a dividend of 3 per cent on its oommoa
stock piyabli) Feb. 1, IH97. The dividends on this stock in
189 1 ivere ai follows: In Miy, 3 per cent in cash and 2) per
cent in scrip; on Dae. 1, 4 per ceit in oaih, m ikin< 6 per cent
in cash and 20 per cant in scrip for the year. — V. 01, p. 41.
Atchlsnn Topeka A Santa Fe RR.—Reinhart Case Fails,—
At Chicago. Jan. 6, a nolle prosequi was entered in the case
of Joseph W. Reinhart, ex- President of the company, charged
with giving rebates on freight rates. The Government failed
to prove that Mr, Reinhart knew anything of the alleged
IracsactioDs. — V. 64, p. 40.
Biy State 6a«.— Suit Involving Buchanan Settlement. —
LawBon, Wtidenfeld & Co, obtained this week an order from
Judge Lawrence, restraining the sale of $250,000 of the com-
paoy'd capital stock and $103,000 of its income bonds, wtiich
were pi dged to secure a note for $)0,000 made in ooanection
with the Buchanan settlement of October last The note and
securities, it is alleged, were delivered to R-iceiver Bratnan on
the condition that he deliver them to Mr. Buchanan, the in-
come bond holler, wh) secured the receivership of th« c im-
pany, if he shoiild carrv out an agi-eement to hiva ths receiv-
ers discharged on Oat. 31. Mr. Weid^infi'ld claims that the
receivers were not removed as agree! and that Mr, Bramin
wrongfully delivered this note to Buctiania instead of cish,
and that the note and securities were to be returned if the
receivers were not discharged before Oct. 31. The case will
be heard Jan. 11. While Mr. Braman i4 not in actual posses-
sion of the property, he has not mad^ his report to the court
and therefore, as we are informed, he has not been formally
discharged.— V. 63, p. 1008. '
Boston Terminal Co.— Sale of Bonds —A Boston paper
says that the comoanv has sold $6,000,000 of its short-term
bonds, of which $5,000,000 are in the hinds of iivesors. An-
other issue of $2,000,000, possibly ling term, will be mide in
the spring. The limit of the is^ue is the cost of the Trfroiiaal
lees $500,000, which is the capital stock. The cost is expected i
to come under $10,000,000.— V. 63, p. 1114. ,j
Brooklyn Rlerated BR. — Directors.— ^.t the annual meet-
ing on Wt^daesday the Board of Directors elfCwd was the#
same as last yetr, with the exception that Henry W. Pu'^nam,
Jr., takes the place made vacant by the resignation of Elbert
Snedeker, The board is as follows: Ernst Thalminn, Edward
Lauterbach, Leonard Lewisohn, Siraon Rothschild, Jacob
Scholle, Henry Sidenherg, Henry W. Putnam, Simon Uhl-
mann, Ge irge W. Wiogate, Elisha Dyer, Jr., Wm. Hills,
Jr., Emil Schaefer. The annual repart is given in another
column.— V. 63, p. 350.
Carolina Caniberland Gap & Cftlcigo Ry.— Carolina &
Cumberland Gap Hj.— Reorganized Compan;/. —The Carolina
82
IHB GHBONiCLE.
[Voft, Lxrr.
OaMtariMd Om * CkkMco By. ha* bMO boa«hi by t|w C*r-
«lia*4IOaatama4atp Ry^ m4 •ine* jMovy 1, IWT. ttaa
^gl^gaMMto4 Bailrr i**t •*!■•. — T. 6S, p. UTS.
OMtf«l aC «4M«<ft «T - ti44U tt^irf U • AtUa^'e Br
ro^ ftxii -Tm OMiml of O-orei* R». Co uwk
IM MiddU 0«>aft|to A AtUntH Rr..
1 M DrirftM Ml* OS or 4b>at D-c- 35.
1W ■•» Mqal^ivw M'^vd* from M<II*<1k«tIIU. a t . i'> Co v
O^tS mlba. 0« iMMry S Ih* atookhoMvra of the
wbloh WM mad*
paid ft.OOO • mil*
Owrf«l 4 O -orate ooaAiwad ih« purehM*.
to rri^ilwi UMB«r. It to Mi4 liw Omu«I |
ftVllWfMVMijr. bat Ihta to na* OooOfiMd.
W
.; JBtc _AU I at tiM OMatiiut Jan. S tba a^ook-
» .M.i« »>olliiB*d tha app liaim'nt of Mr. C. W.
I of Maw York aaOootroUrr of iba •yium and adopted
I to lh« ohartar iocroaaioc tb« dir ctor* from
_ fftvwe. Th.)«» rlroKd war* Preaidfot Stmufl
r«r tha floatbcm Railwajrand Kr. A. R. Lawtoo, Jr.—
OMtrsI ObU RB — •UUIaara* Ohio KK.-Confertnee a$
Is Mmmi Dm.— At BtlUmon Jaa. 4 a eainmittaa of tbe
4hMI«ao(lW(>airml Obioappototad for tb* porpnaa had
■ Mafaraee* 'ttb tbo m>elwm of tba Baltimore ft 0*iin RR
Ctak rMvdioK tba mooera (laid to unTtgtf |75),0O(i)
«b»cb ara duf lb* Ooiral Ohio under ita to*ae. Tba dirrciori
U toalatad wtr* MtUflrJ witb tba ezpUa«tiao itivon th<-m by
|h« ixa i iata. Uodrr tba ordrn of court the etrnioKii of
llw Oiaml Obio it to aUtvd are beioK appliad to the pay-
■MM of tia oparmiinx rzpanaea and tbeiniereat on iia bsods,
lad avy aurptui r^maloioK ther«afc«r will be turned over to
Ik* otteaia of Iba Central Obio. For tbe time belnic tbe leave
of tboroad toauapenled, the receirera not being allowed to
tb* retilAl tor thx road fro<n money earned on o'her
I of tba B ft O. tyaiam.— V. 03, p. 1007; V. 64, p. 40.
OMtral BR. of Taraoat— DeAxiUf Jan. i.— Aaezpeoied,
doa Jan. 1, 18)7, on the $7,000,000 Brat mortgase
F <h* O taaolid*tMl R R. o' Vermont went to d><fault.
Ittonporttd from Boaton that tbe Bondholders' Committee
BOW UMiaaun tS.ftSO.OiX) of tb«*e bond*, or a majority of tbe
r.OM.OOOtoaao-V. 04, p. 41.
CkstUaMTS Rome « Colaabu ll%.—IiiorpanixationNo-
(iaa.— Staoo Bore ft Co.. committee, notiBed bolder* of tbe
Int OMNtMM 8a early tbii week that thoaa deairing to par-
lieip*!* in tSa porebaae of tbe properly aboald depoait their
' I with tb* Oeotral Truat Co. of New York on or before
■thdayof Jaoutry, 1S97, after which date no bonds
I ba r*oaiv*d oo deposit.— V. «3, p. 1114.
Ch«*Ur C««aty C*atral Electric Rr.— Sforfi^o^e for
e'OOO Alad.— Tbi* company haa tiled a mortgaKe fur
,00U to tbe Fidelity loauraooe Trust ft Sife Dapoait Cjm-
■y of Philadelphia, aa Iruatee, to aecure 5 per cent gold
0*»r flM.WO of the bonds, it i* sUted, bare been
I UP— tiUBtiiiB will baoommenoed in a short time. The
Km to to aztaod from Pniladelpbia to Weat Cheater, ^i milea.
Claelaaatl Haallto* ft Daytoa Traetio* Co.-Cineln
■all Ruilll** ft UaytoB Uj.- Electric Line* for a Steam
/?oad.— Tbe CiocloDau Htmilton ft O^yton Traocion Co. haa
been incorporated at Columbui lo build and operate rapid
trarsit linea in connrclion with the Cincinnati HimtUon ft
Osytoo R«ilwsy Tbe incorporators of the new oomoany
are D. O. Edwarda. C O. Wal.lo, Oeorge R. Baloh, R. P.
Bifniberick and C. A. Wilaon. They are all in tbe employ
of tbe C. H. ft D. Ry. Co.
As ezplaibing this move, the following special dispatob to
Ih* OaieiaDati "Oommarcial Tribune" from Middletown,
OUo, asder daU of Not. 18, 1896, U quoted :
C ¥» lal» B. r. K>rrabsrfc>k. at tbe n. H. A D. Railway, today odkuiii-
1aA*al «lik r. B. IMofiaaswhsraby th> Mld'lkt.>wo A M a:»nn
■ ~—. re. passM Isu bb poisa«stoa a* tru«t«« f.ir tiie o. HAD.
IfeabMlakaUteatbutaadL A U. propotMoparail'iir as
«rtarsa4»«f ib**r»aasiUaa ot tfes aaoltaatl A D«Ttoa RK. a
■aaO braash af iha a H. * D.. eon«MUo« MKldlsiown ant
■»aOlaa. aa« ae«4< iho M. A M. as aa atUanot tHereto.
Ibis, (splals Rir>alier«<k soaUsdt, will eaabis Uia O. H. A
p. la ta>»>asi>r»»i»fio» tba renua of Mldilatown lo Hamtlloa by
ataclric 'aad. B* lanbw siataa that lbs C. H. a U. proposaa exisod-
la« aa alartrls :iaa <broash ta cnselBDail in a abort wbtla. TbU will
baaaoa toar4«r«« aaas tba aaapaUtloa that M-rma to ba enmloK.
aadaaa BaaasarMirprasa'TMloa, as ba puu It. Ilf eipialo* that
«1U aa alaaiiU Iim ibs \. U a O. eaa eoapaU wUb ibi <<\ <mi Val-
Wy TraoUae Ob. vltboui fsraUklac pasMacsr aceiiu or otbsr liana a
beats tar asasiaaaat e( uaoaportatioa aaeoaaU dslrloMatal toibe O
■.A IXIaiaiaaML
I* to tkoacht Iha atoetric line into CincinnaU will be addi-
tfoaal le Hm aato traeka of tba C. H. ft O., which are aleady
fliowdad.— ▼. M. p. a04.
Claclaaatl Jaeka«aft KaeklaawRy.— SoMin f oredoaure.
— Thto road wa« purciuaad at forecloaure Jan. 5 for $1,000,000
tr OaMm B, Briea, wp r *a*«ttng th* ReorcaaiEation Com-
•M**.— ▼. Kp. 41.
0*«a*m*l (able.— Jforf^ape fVad.- Tha eompany has
1 a OMngaga on all i<s protierty. locludiog th* Poatal Tele-
^ Oo., lo a>cw* I be 110,000,000 bonds r*o*ntly deacribed
loolanaa— V, 64, p. 41.
CaaMlldaUaa raal.-Jton<f< SatweHheif. -President C. K
Lord rrnoru that th* aew 4'-^ per ont bonds issued to Uke
■ylhajtper oentaoa Jan. 1 war* largaly oTsr-aubacribed at
pat.— V. M, p. l(«S.
OMltMatal ■ateh.-Natlaaal latch -r<u!(ori*« jPur
1— ft pwaa dJapaicb from Camlen, N. J., U.c. 80, aays
k'i thr** match factories bar* changed
•MMC— ft anaa
MM *W0 *< Om
baoda. Honoeforth th* Keynote Itatob Company will ba
oparatad by tbe Cootioantal Match Company, and the Him
Jrtaey Matoh (Company by a ayndieate to be oalled th«> Na-
lioMi Match Company. Both factoriaa bar* b**n idle for tb*
paat two yeara.
Delaware ft Hadaoa Caaal.— Dioidemi/or 1897 Reduetd «o
S Pwr Ceal. —Tbe dtreotora on Wwloeadsy Totei to reduce tha
diytdaads to be pud this year from 7 per cent per a'lnum,
which baa be«nt he rate since 1899, to 5 per cent. While the
company haa a large surplus from the operatiios of previoas
Sears, it wa« decided not to draw upon it in order to maintain
iridends at tbe old rate.— V. 63, p 410.
Dtrolt El<y;trie By.-De'r ilt Citn'as' Street By.— Port
WayaeABelle Ul* Vif.—Purchite of SeeuritiM. — tdon of
the atock and t>onds of the Fort W tyne ft B^^lie Ula Ry., it is
announced, have been purc'iMed by Tom L. Johns >n and
Albert P«ok, in the interest of the Dtiroit Ciciz-as' Street Ry,
and Detroit El-ccrio By., of which compioiet tb-'j ar« respeo-
tirely the praaidenta. Tie purchase prirm is s«id ia the d'tily
pr«*a to be about tl,100,000,-V. 62, p. 635 ; V. 63, p. 116, 9a».
Detroit Grand Raplda ft Weatera RR.— Detroit LanHing
A Mortbern BR.- iJeorganfeed Company.— The reorgatiizfd
company, tbe Detroit Orand Rapids ft Western, on Janu-
ary 1 took poasession of the former Detroit Linaing ft
N irtbern BR . Saginaw & Western RR , Saginaw Valley
ft St. Louis KR . Orand Rapids Lanaing & Detroit RR , Sag-
inaw ft Orand Rapids RR. Its offioera are Cbailea M, Heald,
Preridrnt and O nrral MaDsg«r, office. Grand Rapida, Mich ;
E. V. R Thajer, Vice-Prfsiaent. Charlea Merriaui, Secretarr
and Trpaaurer, offices, BobIod, Mass. Tbe new aecuritiea will
be ready about Feb. 18, 1897,— V, 68, p. 1063.
Fort Worth ft Denyer City BB.— O^^Jcer* Kltrted.— At a
meeting of tbe directors recently in Fori Worth, Trz., E, M.
Van Zaodt resigned aa a director and Morgan Jores waa
elected in his strad. Tbe officers elected are : G. M. Dudg*
of New York, President ; Morgan Jones, Vice-President ; K.
M Van Zaodt, Treasurer, and U'-orge Strong, Srcretary, all
of Flirt Worth. Morgan Jones is G>>neral Manager and J. V.
Ooode General Superintendent— V. 68, p. 1063.
(Jaorgia ft Alabama By.— Jlferger of Columbus Southern
—New BontU. — Aa already stated in this column theCoiumbua
ft Southern BR. from Columbus, Oa , to Albany, Ga., haa
been merged with the Georgia ft Alabama Ry., the merger
being completely efftctiveon Dec. 31 at midnight, since when
tbe Ck>lumbua ft Southern RR. haa lost ita identity by con-
aolidatioa witb the Georgia & Alabama Ry. That portion ot
the Columbus ft Southern RR. eztending from Richland (o
Colun bus will hereafter be known as tbe Columbua Division
of the G. ft A. Rr. and that portion from Richland to Albany
aa the AlbnoT Division. The Georgia & Alabama Ry. will
extend its first mortgage over the newly acquired property,
iaauing first mortgage preference bonds at tbe rUe of 16,600
per mile and Brat mortgage conaslidated bonds at tbe rat» of
99,000 per mile. Some of tbean bonds have been sold by the
company to pay for the C ilunbus S luthern property, but tbe
majority of them will be turned into the company's treasury
a* treasury asaeta.- V, 63, p. 1063.
Gettyabarg ft Harrisbarc Ry.— i!«or;7a>tt2afioa. — Thia
comoany iasucoeaaor of the Ot^ttysburg ft Hirri<hurg Riil-
road, wnose line extended from Carlisle, Pa., to R >u id T >p.
Pa. The company is op^trated as a separate organiz-ttion
but in close oanection with the Pbilalelo^ii ft R-aiiag, it*
offi^ra twing Jos. 8. Hirriji, President; W R. T»vl >r, Sicre*
tary; W. A. Church, Treasurer; Diniel Jones, CimutriiUr.
Glonceiter E«mx ft Beverley Street Rj.—New Mortgagt, —
This company has mid» a m engage to the Americi'i Loan ft
Truat Co. of Bjston, aa trustee, to secure $125,000 of 6 per cent
gold bonds.
Oreenwood Aaderson ft Western By.— South Carolina
Hidlaad RR. — Temporary Receivers Appointed. — At Cnarlea-
ton, S. C, Jan 5, in tbe United Scates Circuit Court. Judge
Simonton issued an order appointing Mike Br^w.-i aid T. B.
Lee temporary receivers of these cimoanie*. Tbe order ia
made returnable on Feb. 1.— V. 63, p. 1115.
Iowa Water Co.— CooaoJs Subject to Penalty after Jan. JS.-~
Of the $819,000 consols ou-.siandiag. $Jtf-2.(K>j nave been de-
posited witb the Farmers Loan ft Trust Co., pursuant to tha
bondholders' agreement. The foreoloaure cisa haa b«*n
argued and early in January a decree of foreclosure and aai*
1* expected. After Jan. 15 no l>onds will be received ezoept
upon a deposit for expenses of 150 per bond.
Keatacky A Indiana Bridge.- Forretosur« Decree Sn-
fer«d.— The decree of sale in cooformatioa with the rulinga
of Judge Barr haa b*en formally entered in tbe United State*
Court. Tba demu rrer of W. T. Grant and others concern-
ing about $800,000 first mortgage bonds was sjboaiited. Th*
upset price IS fixed at $700,OJ0, suoj^ot to the first mortgag*
of $1,000,090, which the purchisern muse asstime. The first
mortgage haa a lien on the entire structure with tbe excep-
tion of a small piece of property over whici the mortgai;e to
the Columbia Trust Company is given priority. Toeseoad
mortgage bondholders have a second mortgage on tbe bridge
and a third mortgage on the terminals, and th'^ terminal
bondholders have a second mortgage on tbe terminals.— V.
68, p. 1009.
Keatacky Midland.— Sold in Foreclosure. —This property
waa aold under foreclosure at Frankfort, Ky., Jan. 4, for
$150,000 (tb* upset price and tbe only bid) to Attilla Caz»
Jamjast 9, 1817
THE CHRONICLE.
83
represBQtiog, it Is Mid, tiie Gjlumbi* Fiaanie & Trust Co. of
Louisvilla, wnich is aotiaa[oa behilf of tha creditors. CoV Cjx
is quoted aa sajia^ that a meetiag of tha bindholders will be
held ia about two weeks to oasiisr reorgiaizitioa. Tha
road eiteala fron Fraakfort to Piri*, Ky., 40 miles, and for
the y«ar eadins; .IuqsSI. 1895. had gross e-iraia<s of $)8,915;
net $3,341. —V. 63, p. 754.
Kln^rs County Eleratoil RR.— Brooklyn Elerated RB.
— Default.— Neqotiitioni for Merger. — Dsfault occurred Jaa.
1. 1897, on the first morta;aKe boads of the Kiags C)ua'y
Elevated RR. The default was expected, the roid beinjc in
receiver's hands.
The report of the Broaklyn Elevated RR., issued this
week, says: "Nesioaations are pending and should be com-
pleted whoreby the railroads of the Kings County and
Brooklyn Elevated companies would be operated under one
management by traffic agreement or merger, on a fair basis.
This wou'd immediately result in considerable reduction in
operating expenses of the combined companies, give better
•errice to the traveling put)lio and result in increised receipts.
New capital, however, will bo essential to enable the com-
bined companies to change their motive power, so that with-
out increa'iing operating expenses cars could be operated at
more frequent intervals, which of itself would add materially
to earnings."
Notice to Bondholders.— A.\igxxBt Belmont. Wm. A. Rfad
and Walter G. Oakman inform holders of Kings County Ele-
vated RR. Co. 6r8t mortgage bonds and Fulton Elevated RR.
Co. first mortgage bonds that, at the request of holders of a
large amount of above bonds, they have consented to act as a
committee for the protection of their interests. Bindholders
are requested to send to any membsr of the committee their
names and addresses and the amount of their holdings, in
order to be duly advised of any action that may be taken
looking to their protection.— V. 63, p. 754.
Klnpi Coanty Traction Co. — Firtt Dividend. — This com-
pany, which, as successor to the Brooklyn Traction Co., is
owner of the stock of the AtUntic Avenue RR. (leaded to the
NaMflO Electric RR. Co ), has declarel its first dividend,
namely, 1 per cent, pavable at the Central Trust Co. of New
York on Jan. 25.— V. 62, p. 820.
Lehigh A HadMn nir^r Bj.— New General Mo^gage.—
The stockholders will vote Jan. 13 on the proposition to sell
$500,000 general mor'gagn bonds to pay the floating debt and
other indebtedness.- V. 63, p. 1011.
Long Island Bank.— Strfy Per Cent Dividend from A»-
m(*.— The Brooklyn " Eagle" says :
The Lonr laiand Bank dlrooton bar* 4eelar*4 a dlv14*nd of 00 par
«oot payabla on Jail. 5 Thlt b>tnk stnM tt dai-lled to wind up !<•
affAlmhaa p.ild i>ut about •1.350,000 to depotlton. Tbe dlrldendi
will amouDt to •2ii).0O0. Borne tima daiinc the next tbree montlii
anntbnr dlTldeod will bn paid aad s'ookbolders wUl eventaallv receive
•oDilderablT more than par for their holdloge. Crewell HaddsoU
rreeldent of the bank.-T. 83. p. 369.
Long Island RR. —Sa/€ of Confro/— ypgotiations were
concluded Thursday for the sale of tbe $3,000,000 stock oelong-
ing to tbe Corbin fstate to a syndicate. Tbe price paid is
reported as b«'tween 40 and 45. The stock purchased, together
with the $3,500.0()0 owned by Mr. Pratt, givts an absolute ma-
jority of tb" |t3,i)0i),000 of c ipital stock.
0«-org<» W. Young, Pr*>sid9at of ttie United States Mort-
gsge & Trust Co., has given the following facts to the New
York New* Burf^au:
"The Corbin interest has been purohased by the United
States Mortgage & Trust Co. for the account of a ^ycjdicate
which will ret in conjunction with Mr, Pratt in the future
development of the interests of the railroad. Among the
members of the syndicate are August Belmont, William A.
Read, of Vermilye A Co.; Brown Bros. & Co., Charles D.
Dickey, Jr.. Theodore A. Haveateyer, Strong, Siurgis & Co.,
Kessler & Co., Frederic O. Bourne, Oeorge F. Baker, and
other*.
" The syndicate, in co-operating with the Pratt interes: in
the development and improvfmentof the proper y as it now
existfi, will also take prompt st^-ps towards providing more
satisfactory New York and Brovklyn terminal facilities. In
the formation of the syndicate especial care has been taken
to select members who are experienced in the management
of railroad propertifs, and who, at the same time, as residents
or property <iwners, are interested in the future development
of Long Island."
Rapid Irantit into New York City. — The company has ex-
tensive plans for furnishing rapid transit direct from New
York City tn all points eaut of Jamaica, covering the dis
tance fr m New York to Jamaica in twenty minutes. Elec-
tricity for motive power and a t' adway partly elevatfd and
partly tunnel are to be utilized between tbe two poin'a
namtd. The object of the plan is to extend tbe company's
aone of heavy business to a distance outside the reach of
trolley compeiitioo.
The report of the Atlantic Avenue Commission embodies
the following plan, which has received "the praciical ac-
'Ceptanc*'" of the company, provided the city will bear its
•hare of the expense as to the Atlantic Avenue improvement:
The Lnnir li'and RR. ihall build a subway ea*tward from
TIatbath Avenux to Brdtord and Nottrsnd A.Trnue«, whence an eie-
vaisd way vlll be bul t <e {Inward Areour; frem there an uniler-
•ronnr neotlon Is prnpfiaed, romlne to tne aitrfaoe at Kant New York.
From Eaat New York an elevated aactlon will be built to Atkln* Are.,
from wbloh point the present (uitaca traoki ot tbe road are to be
The plan proposed for the oompanj Is to oonitruot a tannel
from the iunotloa of Platbuob and A.cUattaavenu9.i, Brooklya, to Maw
York City, where the surtica eatrano^ Is to ne *t tha oirier of OhU'-ch
and Oortlaa it stre«'« \.t ^illei Ltoe aul P>»-l <cr«st i>'iri»o'()a
la proDosed wtth tha Manhattin Elevated RR. ay^tS'n by means of an
elevator. Tie tuanel U to p«» uadsr thsGi^t Rlv^r *id at ler Pal-
ton Str-^et. Brooklyn, with a 8ta'l>a near ths Brooklyn llr BiH, ter-
intn^tlo^ with a aarfaos entraaoa at the LiOik UUid RR station at
FUtba<h and Atlantlo avenues, A compiny has been orcanlzed to
build ihe tannel.
A. doubletraok aurtaoe trolley Une to hs built oa Itlantio Avenue
from 'latbuah Avenue toJGaat New Tork tor the aooominolatlaa of
local travel.
New York <i Long Island Bridge. — The building of the
bridge at Long Island City, it is seated, will b« deferred until
tbe above plans can bs carried out. Representative MoCor-
miok has therefore introduced a bill at Washiagt in ta extend
the time for the completion of the bridge until Jan. 1, 1903,
— V. 64, p. 48,
Wahontng Talley Eleetrlc Ry., Yoaagstown, 0.~New
Mortgage.— Thii compmy, of YauaJtsto^a, O , has m%dd a
mortgage for $1,2)0,090 to the Cjntral Tru^t C impiay of
New York, as trustee, to provide for refunding and tha
making of extensive improvamaats oi the liaes through that
city and ertendin< to Niles. Tae company was formal
Dec. 1 by the oDnoUlicion of the Yjui^itsYa Street Ry.
and the Mihoaiag Villey Ry.— V. 63, p. 931.
Manhattan Hj.— Dividend Suit Denied. — Attorney-Q.tneral
Hancock on Saturday refused tbe petition of Mirtimer Hea>
dricks, who asked that the Attorney-Qsnoral iring an action
in the name of the people of the State ot New York to remove
the directors of the Manhattan Railway Company aud to com-
pel them to pay back to the company dividends piid out in
1895 and 1896, which, he alleges, were illegally paid.— V. 64.
p. 42.
Memphis ft Charleston RR. — Foreclosure Proceedings.—
The hearing in the foreclosure suit came up last week at Nash-
ville. Counsel were directed to submit briefs. — V, 64, p. 43,
New Orleans tt Sonthern BR. — Sale Confirmed.— Ttie sale
of this road to E. A. H ipkins his b^en onflrmei by the Fed-
eral Court at New Orleans, La., and the road wilt be trana*
ferred to the purchaser upon the expiration of the lease to
the New Orleans & Western in February. The rsoeiver, it is
stated, is ordered to complete the tearing up of the 29 miles of
track from Belaire to Bohemia and depjeit the rails at Poy-
dras Junction,— V. 63, p. 880.
New York ft Brooklyn BB.— Progress of Plan for East
Biver Tunnel — The State Railroad Commissioners hiving
given fieir consent to the coastruction of the funnel, the
following facta as to the status of the enterprise are pertinent:
The New York terminal will be In a bulldla< to be erei^ted (or the
pnrpoae at the corner of Ann Street and P.trk Row. The Brooklya
terminal wilt be on the west sld^ of Parol ki Streat, probably oppoilte
Fulton Stri^et. The oompanr ha< bnen unable to cnt a franohUe frotn
the Brooklyn Aldermnn. and th»t which It holds f -o n the Vew York
Board only glvea Hithta aa far aa tlio Urooklva water frint. The
tunnel will be entirely In rock, the maximani frade at the New York
end belnir i per cent and at tha Brooklrn end 4<s per cent. The ooa-
tr'tct baa been fflveo to tha Columbia Oinatruotlon 'o . of w'lloh Vr.
Prederirk B. Ealer Is President BorlaVa will bn De^un within a few
daja to dFte'mtne accurately tha condltlanaof tha river bottom. It Is
eipeoied that the eleetrlc aurf ice roads of Rrooklyn will run through
to New York without transferring the passenvera. Tt It hoped to have
tbe tunnel In operation by Jan. 1, 1893.— V. 63, p. 794.
Norwich ft Worcester RB.— New England RR.— Amended
LtcLS-. — New Securities. — At the annual meeting Jan. 18 the
stockholders of the Norwich & Worcester will act on an
amended lease to tbe New England RR., and on propositions
to issue stock or bonds in order to retire $400,000 6 per cent
bonds due March 1, 1807. and to pay the floating debt of the
railroad; also that of the Norwich & New York Transportation
Co.; and to build an extension from Allyn's Point to Qroton,
Ct,, about 6t^ miles Tbe amended lease provides, it is said,
that the leasee shall operate the property in place of tbe
Ifssor, and that the divl lends shall oa pail quarterly instead
of half vearly at the same rate par annum as now, or 8 per
cent.— V. 68, p. 968.
Northern PaelBc Ry.- 0/i S«c'trtfi«j Struck from List. —
The New York Stock Etchange _has struck from its list the
following securities, all of wBlch have been superseded
by S'curities of the new comoany t The •!. P. Morgan & Co.
ceriiScates of deposits for ommonand preferred stock for
the general Qrst mortgage 63, general second mortgage 6s and
the collateral trust notes.
Payment on Duluth A Manitoba Certijicates.—The Guar-
anty Trust Company began paying on Jan. 4 tn the holders
of the trust Cf>rtifloates for L)uluih & Manitoba RR. let mort-
gage bonds, Minnesota Division, the sum of $22 74 with re-
spect to each $1,000 bond represented by suci certificate,
being six months' interest at 5 per cent lees tbe proportional
rebate of interest on the ten p'^r centum pail in cash on ac-
count of the purchase price of tbe bonds.
Lands Under Old Preferred Stock.— A» already stated in
the CHRONICLE (V. 63, p. 107i)),the new company has all along
had in view the taking of the necessary legal measures to
acquire title to the lands covered by the old company's pre-
ferrt^d stock, and to make them subject to its mortgages, these
lands not having been included in the foreclosure sale. This
week, accordingly, tbe Northern Pacific Riilway Co. as holder
of deficiency judgments and of 95 per cent of the preferred
shares nUd claims at Milwaukee upon the lands in order to
secure possession. — V. 63, p. 1116.
Ohio Soothern HR.— Notice to Bondholders.— Receiver*'
Certificates.— The first mortgage bondholders' committee is
64
TH£ GHBONJULE.
proL. LXiy.
taferaMd Itol kpplleailoa to abiut to b« m«J» to the C >u
•Mlmllrto toM* r«e(lT«»'emlflo«tM.wbioh abkll nnk ;
' )urt for
HllmllTto IMM r«eriv«»'emiB0UM.wl>l0ii •nui rank ahead
at IM tot ■wfinM. Tto eowwUm. tbtt^tof, utter* booii-
inilin wte hmf mm aImiIt ^»to »< (Mr booai with the
OmMmI TtMlOoaiiMay wdw llw ici^bmbJ to do io »t once.
ItanolaMU* |wnftfW<w «iU l>« ooaoMaoed lo oMe th« o^a-
MM«f l^iwhi. 18M. BO«r la defwilt. »r« oo*. pki 1 «rittiin
Sk^HMlNd tlMh tkM to befoM Mkrek I, 1S9T. The lime f >r
pattol boodi to limlwd to Jm- 9J. «fMr wbioh ao bon'it
t b« iM»iv«d rxMpt oa uroM lo be fls<4 Uier by tbe oum-
r,-V. M. ^ «;.
Rr. A V , I ,m—9inkiHg /Vwd fViirin^nff —Of
«b*an««M»r<c«r »mW L>«n A Trust Co »im
4ni«a P>.t>'M for r-i-.i.i.i. •!! ti pir. and hM «o«tpt'(i oirers
lor flM,i> O at llOfur Um MnWlnic fund.— V. 68. p. Mt.
Or*«M Sb*rt Ua* A DUk Nortkarn •< >< < ) wi T Oo.- C'oMpan
f^vM/af — TIM ooapoiu due Jao. I. < cwh. from
UlSh A Nortitern Brat mort|rMP>. wrr . > ta. 6. 18»7, at
Mm Ualoa T <>r at the oIHim o( JAm<>8 U. Uarrifi,
llo.nAlD*> . R>«ton.— V. et.p. 49.
OvtMktr* FalUofKoack A Green KIrer RR.-f\>r«
«Imw« Aim — ThU *ile ia a<lrTtiaed for April 9 iitOivoiis.
bMO, KtBlucky.-V. 65, p. 10«4.
rklladelyfela Betdlaf * Naw ladaad BR. -lUnrganiza-
AMtea. — rh>> oommitM". 0)»»i«tia< or jnlta S wii.H'in,
JolMSaiW. Wdliam Q. J«ak<, Jowpi \I)or>>. Jr .aaailtrry
A B r«i»d. harioKiuiifUo^at 2V), Bullitt Bailiiat;. IVuli-
daJptitt. «!▼•• tb« (uliowioic DOiiue.
UaitM *» ajTOaum dMad Mr. is. I4BS. nitwr-" '^'xnmliies
aaiUMOtr«r4 Lit* laaurasM. Annnll; A Trutt ' olhii. •
Sna aaaiber at trat mancac* (>nn<l* h*TK ii* ' with tbo
ffS il Oiwpaay. A\»m«M\t>aal«-v^- ■ .■ i,....-.. ....... 4 Dfp v>,
liM,taaeaaiailtlaa*«aantii<>rit<>d ' » (.>'ect»<>iro of ili*
■traam ta aaa* a aala of ihebumlic m»<l« withlu • almrt
|D^S^I^M||(r«ct»rrpiia* Th^com u ..' ■. ...vim all h il<l <'• of (Irar.
'tto (lapiMll lb«lr bondi liDinmlUlolT with th* Ulrard
,, AnoallT A TnutOo., (or vUiob lu oncotUbln rccelalt
Iba~laaaad.-T.e3. p. ll&».
PitUkarc k Wratera BR.— Propiwoa for Car Irusts —
Baoaivrr Kios bas mtda an arrangemeat with the FmiQce
Ooapanj of Piiiladelphia br whiob the cir trust paympiita
arv pxteodrd orer a a-rlea of yetri. The auiouatof thr) Pitts-
burg & W'Bl^a car iruata waa Kiven ia March, 1896, as
IS7;.4s3.-v. sa. p. 1011.
Otiarf OaiaH«*K4a4ts niiy Ry.-Oanalia* St. UhIr
■K.— makt Kaa^a^Citr ft Etvtera KT.-fieor(faniziti<>n
Ptan-Liam.-'X* attt«^l in tha CHftONlOLC of Do 33. 189S,
p. 1168. lb* non-pr«>f«>rrrd bialh >ldfrs of the Quiu'^y O nnha
A Kaaaas Ci'j Rr. are r^-queiiAd to depmit ibeir ho(iiagi4
with thr Ijaaraniy Truat Co. of thU oily. aubj->oc en the terms
ol tbr amtoded acrorniKat of Not. 10, 18U8, reo»ivini; (>n-
grared ccrtiUcaiea ih-rrfor and "th<« pi^meac of tbe tirac
year'* iilareataaiar tbe prop-TS-'i lenae "
Tht> a c r w eat ameodinK thai of May 36. 1803, was ad :)p*ed
aa of Nov. 10, 18M, at a mi>etiai; of thn t>on1iiold<»rs on D<c.
I. but 1(« t«rm» bare aot beretufora heen publiahed. Th-y ara
eoDtiiord in tbe pamphlet iMue<l u-id.>r da'e of 8'P^ 13. ISat.
by tb« t>ondholder»' committee, con*i» in< of Charles H Ba'l
and Ward W. Jaooba. The Bmnn<liiit;niau:boriz d the cirry-
iSK oat of a rontraci of ailn and It^ate with a pyxlirite repre-
aaoud by Oilman, S>n & Co., uf thH ciiv, Mr. Giltnna lutvinc;
raai|(nad from tb<' ommlttet* t> jiin tbe syndlcit*-. Th» Q
Omaha & Kanaaa City Railway when purchase! at fore-
doture sale ii to be ieaaed to tbe syndicate until Sept.
13, 1900, onlcfa purchased earlier by the syndicatn in the
Baanner below ^dicated. Under the terms of the lease the
•yndioale agra^a to pay the intfreai of $13,500 yearly on the
prefa r red boods anJ lo pty on acc'')unt of ib'< non-preferred
bood* ln»ereat at the followinK rates fr >m th • lime thit pjs-
•rwion of tho r>>ad i< dolivircd. the iru«tees of the Q. O. &
K. C. alsi aitrnninj; from fund* on h«nd to pay the Ininrest at
t»i' 'wn trorn S»p'.. 13, 1S95. until the delivery is
Oi IS97, $1<J o<r $1,0)0 >onl: th)re .fur JJI,
tofcr'nrr win ml usee and ohardes.
Oa or balore Hept. 18. 1900, the ayndiotte will (jive the
'"•• " 1- preferred bonds of
•ilher 70 per cent in
. or Riouri ii>H of the
I:K. (aee ISVaSTORS' SUPPLB
I morti^aft* and MOO seoond
1 |l,Oi>0 oond Rurrend'reil.
t«Ml (<• pii rebate the O naln &
J, p, 823. aitr-H-ini; wiihin Hva
year* lo pay for Ita flrat m'trtKai^e bonds 7.^ p<>r c-nt in (h<
flrat morticaKe 4 per (»nt boada and 35 pf r cent in the income
'boMb Of the Omaha Kannaa City ft Kiatero. Pendinfc com-
ytoHtfi nt the unrrhaw l»tere«t i« psid, a* atated last weak,
a« ■ '^ r-ent p<>r annum (3 p«r cent aemi-annu-
a t to which tbe bonla are entitled in
ll»^ ll.-» HI". irM.riifn^i. Hi>ndA
TkaO'naha KtnsaoCTiiyft Kistern Ry. has heen incorporated
■atf to buil'liii.' 'I'c lino from Tr-ntOQ to P«ton»bur/, Mo.,
•• «ll«« '• the Omaha ft S*.. I<iui4 and th4 Qiilncy
Omaha ft K v. Th« •rndloae aicre^^s that im line
M cooiptoUd (»n-l I '"s abive mentioned and
tta Kasaaa City ft N . in« RR.; all of which
n to pmpoaetl to merK" in'oiti.-K. K O ft E.) shall "xt^nd
from aoro* <y>mcw>tlttv« point eaat of the Mitsi«Hip li (B»ard<-
lowD oa tbe Bihimore ft Ohio Boiithwesti-rn has been talked
of) toaovM poiata »n the .Miks^uri KiTer. the pointH in vi<>w
btlag Oinafaa and Kanaaa City, forming a northerly outlet for
the Kanias Cit\
to the O.ilf <
Northern Com ■
roads in the i
in ». 03, p. 1171.
Batlroal Ualldlav
^& Oulf. shortly to be completed
See maps of the Kansas City ft
I .1,.. u-.„,,. Pity PitisburK ft Qulf
MRNT and official atatement
^ n, p. 42.
In ISDG.- .Y«nt Miteage Built.— Tbe
new conacruc'l:>n ilurinK 1S94, as reported by*tb« " Railway
Ak«" and tho " Railroad Gaz'tte," is as follows r
LiKM. Ml
e
I
*
1
T
14
«
«
I
1
I
«
*
1
it
6
>.-. RR.OiK.
MUM.
n
«»
IST
M
a
T»
n
Ml
IT
•«
6
1
16
IM
t«
•7
lia
«•
w
as
an
•.I ...
9 I MIU.
uuurl,
S(4n(«iu
Nsir JcrMj ...
N«w Vi.rk
N.irlh 0.ri)lln«
»»\ N'Mith litkuta..
73 ' Olil.i. ...
68 I iikl^iUoiBS Tar.
IT <»rL..j<jn
PenmrlTanla...
Koutli Carolloa.
reimoawM ....
T»t««
uuh
Vannont.
Tinlnis
'-Ry. ilbi.-. RR. Ooai.
81
t4«
18
«7
1
143
4a
WMbliutaa.
West vTrdnU..
WlMoasin
»
I
4
6
6
1
6
S
a
16
1
S
8
■
1
«
S
4
7
l»
t9
11
as
41
m
04
tr
iS
II
S
SB
a
•
14
19
as
3MU
IS
6e
8
ss
w
as
•a
•r
•
w
IS
S
IS
M
SS
n
I of fwr'"'"
tha Q. O. ft
eaah for ihr :
Omaha Kan*** (3i'.y iv
■KST) lo tbe amount '
Boncaca tnooma bon :
TiM avvdleala haa a I
St. Looto RR , aa aUt«-u
MsMscbaaatu.
lUoblcaa
liianiSioU
HlMtaslppt
ToUU In .sa SUt« ana tMTltorlas t«» l.90t l.flM
—V. aa. p. 166.
Rapid Transit la New York City-— ''he Ripid Trinsit
Commissioners have held public h^^arings this week regarding
the new rout" adapted provisionally at their meeting D:'c. 81.
The new route is as follows :
A t»o track nn l^^gronn'l roa"! from Bonth F«rrr alon« Broadway
•n't Park R'>«r to Cli^ttaiinm atreet. A fmirtrsok uodarsroiiad road
from Ohsialx-r. strcpt alnni: Klia «tr.^t, Foarth avenue. Cortv-»e«ond
• treat. Brosdwaf and lb- B.>iiloV4ri. ti Oue tliimlri' ^ .■ ' '" -rtb
street, a tWD-trai'k roil fro-n Ooi« Hinrtm.l «nl F.icir m-
Dlnn northerlv alonit th« Biiil»v»ril. Elnventh avenue, i 'ft,
an<t Binsdwar to a noiailn Kltiicniirlilve north of Uia H >r:nu ivivar.
the raai lo tie iiailnrrroiiiit (MOffpt aorosii tUs Uaoliattan valley ant
tbe lUrla n Klvor. which will l>'< brldfe I lir the road.
A two-traok ro«t frotn tOl'h 4ire«t, ruaainc norcbaaiterly noder
priv^ proiierif, li6tb Street and Cttitrnl P.irk to L'lnoi \y -nue.
and then northprlj" alon? L'tooic Aroaitn ti fhn north «ldo of t'ii> Har-
lem River, and tkea 'o B onx P*rk, the ro »d to l)o aodercroiiid. with
a tiinnrl tinder toe Utr em Kl'i^r. to a pilnt east of Third AveaiM,
beyoad whieh there will be aa elevatrd r»vl.
Loaps will be oaaatrueied a* Botitb Ferry and in Olty Hall Park,
anderground.
Somethlna; less than (35,030,000, it is said, wjuli build the
road.-V.63. p. 1118,
Readlnr Compaay.— Philadelphia ft Reading Ry.—
Charter Ufiheld —.Attorney General McCormick, of Pennsyl-
vania, on Jan. 9, render^^d an opinioi confirming the validity
of the charter of " the Rimding Compiny." The opinion r«-
oitas fully the histiry of tho cbirter. which was granted by
an ace approved May 31, 1871, to the Excelsior Enterprise Co.
The Excelsior Co. changed its name March SI. 1873, to the
National Cj:npiny and Che latter iti name on Nov. 9, 1898,
to '* the Reading Company."
The minutes of the meetings are quoted, showing the busi-
ness done iti their early days. For instance, in 1893, the
ExceUior Eiterprise Compaay (or ita successor, the National
Co ), purchased the caoital stock of the National Railway
fnow the Dalaw^e & B.'>unl Bro)lc RR 1, agreed to guaran-
tee its bonds, as alto thoie of thi) Pailadelphia'ft YardleyviUe
RR., and made contraoia for the construction of their roads.
Oa Dec. 28, 1873, a pnoosal for the rebuilding of the National
Railway from Bound Brook to the Delaware River was re-
ceived and referred to the executive committee, and details
were perfected for settling the floating debt of tbe National
Railway Co. Other meetings were held in 1874; and in 187C
and since, except in 18''1 and 1833, annual meetings were held
for the election of officers.
The opiaijii concludes as follows :
The power* written Into the ohnrter ot tho oorporiltan, wbllc. la lay
oplntoo, Inlmloil to tht Imst lalert-als of the (!o umoDwnalth. are qev-
erthelest powers uriintcl hr th« Siato. acpept»d bv tho oorp>rator»,
and acted upon by there, and thiKe <1o:kllnK with tbe company. Nor
do I thluk IUh uoii-ti*e of the corportte franohUcK after 1H7.5 for a
lonR period Is Krniiud uf forfiiltiiro. The orK^ilzitlon. »» we have
noticed, h.i« been O'lnstanlly kept lip. The corporation l< a piivate
one. and the public lisd no Inierent la the ine of ihn powors eraoted.
Tbs f ranohUo to lis a oorporaiioii was expressly retained by tbe an-
nual electloua of onicera and appears o«rer to have b'eu abindoaed.
Alter duo (•iii»l.l.<r*tloa. I mioh the oouolu^iou. in'wt reluotantly.
thit the Co iMiionwmlih of l'.»nosylr»nla cannot now sucoo afnllrst-
taok the cUirt.'r.<d rUhtu of the RetdlOK 'ompany. at lea'-t, tbe rights
otauoh a ualiiro and cb4r;tot«r a<i hut been exercised by tho oorpora-
tl<n priir to January 1. I'^Ti. It had power to do the hualnest la
which It waa enuaiicd prior lo tbe adoption of tbe now cooatUnilon.
Whether the other uraat:* of ani-ol il pnyll-gos, of the v.irled kinds
set forth In tbe chrkrtxr. ooailnund after January I. 1874, U a question
Ibat may be deii^riiunot h**riMf or wUlmi the ocoat^lon aiiaes. [Here
follow* a qii'ilHllon fniiu TiiKllce WllUarai, lo Oarothors appeal. 118
P. 8.. 48 '; ihen till- ■Miliil HI pro;\.'eil«.— EtM.l My view of the who'e
matter la that iii.' .'Ii in.T.if tb« oomp»oy atiihofUed It to do the kind
of buslneas In \v' 7ti;Ad prlir lo Jannai'V I. I8'4. which busi-
ness waa of the - il cburaocer as (hit In which It proiioaes
to eoKaca for ' .\ .if onti roUlux tao atooKs of the Railway
Company and th" < <i u v iron U>tnp.iay.
The aot conferrin.; th» charter to th-^ Eti-: -Uior E iterprise
Co. was t^iiotel Ii ihi" •■"naiNiCLK of Nov 31. ISfli], pag) 988.
Operation of Philt. Neielown & Niw York RR and Stony
Crtek IfR— The PniUdelphia & Reading Ry. on Jan. 1 took
over the operation of these roads, whtob have long been
allied to the Roading system-
Wet* Securities. — Joseph S. Harri", President of the Read-
inif Company, announces that the Reading Campinv has ac-
, quired and now holds the capital 8to:3k and the 2<1. 000,000
l>oods Issued by the Philadelphia ft Reading Iliilway Com-
' pany and the capital stock of the Philadelphia ft Reading
Jamuary 9, 18i(7.]
THE CHRONICLE.
85
Coal & Iron Company; also all the equipment, real estate and
miscellaneous stocks and bonds formerly owned but sep-
arately pledijed by the old railroad company. The B'^ading
Compinv has increased its capital stock to $33,000,000 first
preferred, $42,000,000 secoad preferred and $70,000,000 com
mon, as proposed by the plan of reorganizition and jointly with
the Coal & Iron Company has authorized a joint mortxace
to secure bonds up to a possible amount of $135,000,000, to bs
secured on the property of both companit^s, incluliag the
stock and bonds of the railway company. The new bonds
thus have the security of the entire Reading system, rail-
ways, pquipment, real estate, coil lands and miscellaneous
stocks aud bonds of great value. Tha new stooks and b^nds
are exoected to b9 ready for delivery to the public inside of
sixty days.
Securitiei Listed in Philadelphia. —The Reading Terminal
bonds of 1891 due May 1, 1941. for $3,500,000, have been
listed on the Philadelphia Stock Exchange. The statement to
the Exchange says in part:
Both principal and Intereat are parable in gold coin, free
of tax. The booti were lasaed br the Phlladelobla A Read-
ing BR. In pajmsnt for the (took of the Phllailelphla &
ReaJIne Terminal RR. Co., and the proeeedi used for tiie oon»trn«tlon
Of th»Termln»l RR , Inoludlng th« termlQal etatlon and building at
Twelfth and Market street", Philadelphia. The bonde are aeoured by
tUedepotit lu pledge of 16»,950 aliarea of the capital atock of the
Philadelphia & Reading Terminal RR. Co. with the Prorldeat I/fo 4
Trust Co.. traatee, and by the guaranty of the Philadelphia <t Read-
ing Terminal RR. Oo., which guaranty idaeoired by a mortgage de-
livered by the Philadelphia St Readies Terminal RR Co. to the Prorl-
flont Life ATruat Co.. trriatee, eonvBTlng all the oompany'a railroad,
real eatate, righta. pilvllegea, franchlafB, etc., now owned o- to be
hereafter aoqalred, aa described In aald mortgage. Tber are further
isonrwt by a traOlo agreement dated May 1st. 1891. The Terminal
BR. extends from SInth Street and Fairmount Avenue to Twelfth and
Karket atreeta, with a branch from Bread and Noble atreeta, to a oon-
Bsetlon with the main line near Twelfth and Callowbill .streeta, Pblla
talphla. Length of road. I 3 callea; total aingle track, S'7 inllra: ateel
ralla; gtugr, i feer Sig loohea; no eaalpme'it: capital etook, $->.%00.-
000; par value of aharee. $'>0; full paid. Floating debt. t3,357.->0^,
baUnoe of advaaeea for oanstrao Ion la exoess of prooeeda of boadi.
Bquitiblt Interest Certificate*. — These certificates have been
paid at 105 at the Central Trust Co., interest ceasing Jan. 5,
1897.
Delaware River Terminal Extension Bonds Adjustment. —
The coupons due January 1, 1897, were paid at maturity to the
holders of the Delaware River Terminal Extension Ss who
have aesf nted to an agreement which can be had upon
application to the trustee [the Guarantee Trust Co. of Phila-
delphia], Interest on the Delaware River Terminal bond?
due Nov. 20, 1896, was paid by the receivers. We are informed
that it is not proposed to scale either principal or iaterest of
either issue, but if the agreement with the Delaware River
Terminal Extension boodhold rs does not go throue;h unani-
mously there may be a default on both is^iues. Of the total
issue of Delaware River Terminal Extension bonds of $1,22?,-
000, 1 olders of all but 19 bonds have either deposited their
holdings under the agreement or announced their intention
to do so.— V. 63. p. 1159; V. 64, p. 43.
Rntland KR.—I>ividend — Earning*, — A dividend of 1 per
cent on the preferred stock was announced laat week. For
the four and three- fourths mon'hs from May 8, when the
company toos pwaession of its property, till Sept. 8 i, 1899,
the gross earnings were 1)39,899 and net $148,464. Tha iai -r-
est charge for the .aame perioi being about $66,000. a surplus
of about $82,000 was aviilabla for other purposes (tax'-s, etc.)
The dividend calls for $4'3,00O. The earaiaes cover ths best
part of the year. President Clement is quited as saying that
the floating debt his bieen paid and many improvements
made —V, 63, p. 754.
8t Joseph Ik Mrand Island H.j —Sueeesaor Cornpany.—
The S-. Joseph & Grand Island RR. having been foreclosed,
the Grand Island Hastings & Southeastern has been incor-
porated in Nebraska, and a new company has also been char-
tered in Kansao, and the two companies will be consoli'lated
as the St. J)s»pi & Qraml Island Ry. , the only ohao<e ia the
namo being the sabstiiution of the word railway for railroad.
Mr. William L. Bull will be the President of the nev com-
pany.— V, 63. p. 1159.
8t. Loaifl Salem & .IrkansaH RR.— St Loaig & Stn Fran-
cico RR.— Fur^cioaure Suit f»fed.—At St. Louis, Jan. 0, the
Mercantile Trust Co , as mortgage trustee, filed a biU for fore-
closure against the St. Louis Salem & Arkansas RR. The St.
Louis &San Francisco RR. owns nearly all the bonds, having
obtained them under the offer in V. 63, p. 1140; V. 63, p. 1160.
HaTannah (tta.) Electric Ry.— Sold in Foredostire. —Th\»
property was sold under foreclosure Jan. 5 for $210,000 to
Herman Myers of Savannah and J. H. Fall of Nishvillf. rep-
resenting a maj jrity of the bonds. The "Savannah News"
says:
Mr. Van Lear Eirk. nf Nashville, states that a naeeliog for reorgan-
ization will he held lo Savaouah In about two weeks. There are aoout
fideen oerHoof In ^faelirilU lot«re<tnd la tb* eleotric railway. The
form of rooricanli'. itloi ha< n')t bi'on »irre«d npin nor the ofllners
■elected. It la likily. b iwi-ve'. that th'>w who haV4 ttk'<n aa antlre
lor«re«t lo I'll pn mrtv herotofor» will continue on Che Koarl or Di-
reetor*. Biiiw^eo {7S.0)O and «10 i.oiio will he spi^nlat onoe to put
the propertv la good ranalav ciadition, of which amount about
9iU,000 win be spent la a new power hou«e.
The minority bonds were deposited with the Southern Bank
of Savannah —V. 80, p. 1011.
SiTaitfin (tf.— Serinton Traction.- Coiwo/idaf ton Ap-
proved,— 0:\ Decenber 18 the stockholders of the Scranton
Traction C >, approved the proposed consolidation of its sub-
sidiary properties under the title of the Scranton Railway Co.
Beginning Jan. 1 the Scranton Railway Co. will operate the
different lines heretofore operated by the Scranton Traction
Co. Its directors are: Clarence M. Clark, President; J. P.
Ilsley, Vice-President; C. Ford Stevens, Secretary and Treas-
urer; G. W. Clark, Jr., all of Philadelphia; Timothy Burke,
Frank Silliman, Jr., and Horace E. Hand, Scranton. The
authorized capital stock of the new company is $6,000,000, of
which $3,500,000 is full paid. Par value of shares $50. The
capital stock of the old companies which form this consolida-
tion was as follows: 8 jranton Traction Co., $2,000,000; Peo-
ple's Street Ry., $600,000; Scranton Passenger Ry. , $100,000;
Dunmore Street Ry., $30,000; Scranton Suburban Ry., $100,-
000; Valley PassengerRy., $400,000. See also V. 63, p. 1064.
Snperlor Consolidated Land Co.— Mortgage for $1,000,000
Filed — A press dispatch from Superior, Wis., says that this
oompany has placed on record a crust deed covering all of its
property holdings in the county to secure a new bond issue of
$1,000,000 of 5 per cent bonds, due in 1905. The new loan, it
is stated, will be used in part to refund indebtedness, esti-
mated at $63 ),000, of which over $300,000 is principal and
interest on first mortgage bonds, $380,000 notes now due, $138,-
000 taxes in litigation and $10,000 floating indebtedness.
Terre Haate & Logaasport R. R. — Reorganization Notici,
—Seventy psr cent of the outstanding bonds having been
deposited, the bondholders' committee, Moses L Scudder,
Chair nan, annouaces that it has extendi 1 the limit for re-
ceiving deposits of bonds without penalty to Jan. 20, 1897.
Bonds received subsequent to that date will be subject to a
penalty of $10 per bond. The Depository is the New York
Security & Trust Co., 46 Wall Street, New York.— V. 64, p. 42.
Union Paclflo Ry. — Ooupon Payment, — The coupons due
ec. I. 1896, on th'i 5 psr ctnt cilla'eral trust hoods will be
paid on and after Jan. 11 bv the New England Trust Company
of Boston,— V. 64, p 42.
Wheeling ft Lake Erie Ry. — OUIleial Circular as to 7m.
grovementa. Trackage and Business Outlook. — President A. O.
lair, in transmitting the notice of the annual meeting of
stockholders, calls attention to the following facts :
While buslneaa hag been greatly depreased, it has been our policy to
Improve the pbyalcal condition of the property, add to Its eqalpment,
and in every way inoreaae ita facllltlea tor hanallng a largely Inoroasea
traOle. During 1896 1,000 new 30 ton gondola cars and 12 new en-
glaee hare been added to the equipment. Nine new steel bridges have
been erected and 10 miles of aiding;* haro been constructed.
ArraDKements are being made for opening a new mine of large
capacity upon the property which your oimoaoy controls, and toin-
trodaoe electrical machinery for miaing. which ia the opinion of tha
Oeneral Manager of the Coal CompanT will make a saving of at least
13^ cents per ton on the ooal pro lucod, equal tn $30,000 per aonam
oa the 600,000 tons, which ia about the average annual prodact of the
minea controlled.
An arrangement baa been made with the Columbus Sandusky A
HoekluK Ky. Co. whereby that oompany Is aceorded certain joint run-
ning rishtn over the ."i I miloaof your line from Bellnvae to Toledo at a
rental of $39,125 per annum, together with a proportionate part of the
oat of maintenance, and sundry additional payments, based upon ths
Sroportion of buslneaa done. The agreement ia for 9!i years from
anuary 1, 18S7, with provlaioa for renewal; and Its effect will, it is
believed, be to add upwards of $50,000 per annum to the lacome of
thia company.
LookiPiC forward to the year 1897, your management antloipates a
greatly lucreaacd iradlo, and shares In tha general belief that we have
bofore n» a period of prosperity whioh Will be all thu more pronounced
when compared with the past three years of depression. -V. 63, p. 111.7.
—Mr. C. W. Haskins. of the firm of Haskins & S lis, certi-
flfd public accountants, located at No. 30 Broad Street in this
city, has been elected Comptroller of the Central of Georgia
Railway Company. The oflice of Comptroller of this com-
pany is a new one, and has been created especially to provide
for the engagement of a firm, or an individual in a firm, of
public accountants, to supervise the reorganization of the
entire accounting system.
—The New England Loan & Triut Company are advertis-
ing the prepayment of $100,000 of their debentures maturing
August 1 next. Also the payment of a like amount of deben-
tures of serifs No. 3, Their advertisement will be found in
to-day's CaRomcLE.
— Messrs. Rogers & Gould, 7 Wall Street, have compiled
in convenient calendar form the daily rates for money dur-
ing 1396, the wee'ivly condition of the bank reserve and the
weekly gold movement.
— Messrs. Simon Borg & Co. offer for January investment
a list of bonds and guaranteed stocks. Their advertisement
will b» found on the last page of the QUOTATION Sdpplesjknt
of this date.
— Mr. F. J. Lisman announces in another column that be
in prepared to trade in the various issues of the Southern
Pacific system, as well as all other inactive steam railway
bonds.
— Messrs. Farson, Leach <fe Co. offer a list of State, county
and city securities for January investment. Their adver-
tisement appears in the State and City Department.
— City of Boston and District of Columbia bonds are offered
for sale by Messrs. Dunacomb & Jennison. Their advertise-
ment will be found in the Quota.tion Suppcbmbnt.
— The John B. Stetson Company announces a semi-annual
dividend of 4 pjr cent on its preferred stock and an annilal
dividend of 4 per cent on its common stock.
—Messrs. E. C. Stanwood & Co. offer fpr sale $250,000 cii:7
of Hoi yoke bonds. See their advertisement in. our State a,pd
City Department.
86
THE CHRONICLE.
(Vou LXIV.
Uhe (Commercial I^imes.
COMItBRCl AL BPITOMB
Pmdat Niobt, Jan. 8. 1897.
v^hMlMM woria tea hatiiy couen fairlj under w>.t for
«^ MW Mtf MwvtMate hav* do* m « ruU complaK^ tbeir
SjibIimIw: ttey do Dot know drfloiuir th« rwulu of (>u«i-
Mtetlte VMT JMI okw4 ud bav* tot m yet •bo«ra a di*-
liiilnni for Ite eeoiiBg **ftr m« marked bj b»t-
. ilMs have bf«* pwTafcol for aome lime pMt,
1 1^ immi diasoaliioa ia lo taka a ebaerf ul view of the
-^""Sa Miiilnrn ovar ika Cabas aliuaiioa U Rradu-
. _ .., ^yj ^„j Meana
^ Tarious iradea
^__ _ law. Quiwa dlfaraiiy of opinion
■^ bsM ikowa. parUcuiarty bMwaan urowara and mmoufac-
laiwaaf wool aad lotaeoo. Wbaat otop proapecu at the
^m ^«« baaa vneb baprovvd by mora favorable weather
■Oy M»tli^ tolo tba baekgrooBd. Tb« V,^j»
oSiMaitiM hM ooBliBWd iia bcMioRa of tba *ai
«■ Um rarWoa of lb* lanC law. Quiwa divaraiij
k a eoMpatatlra atata
Bt of loading articles.
Sae.1.
Jtm-U
/an. 1,
l«M.
tm.
\Mt
4J1I
14.78a
11,S3^
t4,<>a7
• I.50*
30.583
14.«M
14.«lt
^7,^«l8
KM**
8.8S1
9».e.^9
SW.M'i
••»,•«•
866,749
4e.t»o
44.319
•«.S07
44.837
4S,S.18
8,774
MM
68
Mll.ltl
1,798.453
563,3-8
Moaa.
Rod*.
215
44.800
54,4<>0
2O4,0uO
sn.ss7
«»».7ft4
188.203
*8,»I4
47,631
43.000
t»7«
a,04S
2,072
t»l
1,183
2.2«7
•,•00
11.000
3,800
WSl
^500
ii,aoo
None.
njof
1»,S00
2,300
Res*.
8,300
2,300
•4,^«1
81,974
9.^f>•<
•.»••
«.74«
2l,79.S
I06.MM
lfO,600
163.400
TVra baa brrn a aligbt improTemant in th« demand for
Iai4 oe tha apot and at tbe cl m ib<ra waa a atrooKer turn to
Ike aBarkri, with final aalea at 4 12^^0. for prime Wcsiern,
("no. for prima City and 4'4(V. for refined for tbe Continent.
^^•loeal aaarkat for lard futurea baa been oexlected, ard at
Ik8 Waat tradisK ^aa qaiet up to to-day, wben there waaa
BalrdnBaadfroaabottaioooTeroootracta, stimulated byade-
flRMisg morement of awioe. Tbe cloaa was quoted fairly firm-
■>4B>Y «b0«a« raiosa or L^ao rtmjKaa.
aol. Van. rwM. ir<4. tkur JVt.
iMaary a. 4 10 4-07 4'03 4-05 4-07 418
Pork kaa bom in inereaaed azpon demand and the close
waa firm at 4BtM98 7S for mm. Cut nieata bave been
^•ialbvtalMdt. Tallow baa sold alowly and the market has
waakaaad aliabUy, eloaing at S^c bid and i%c. aaked. Cnt-
loa-ared oil baa b««o quiet but about ateady, cloaicf; at 20o.
tor prima crude and 2m. for prime yellow. Batter ban been
MitI bat aiaady. Cbeeae baa bad a fair aale at full raluae.
nwh agga baT* bcao doll.
Ooflca of Braall growth baa had only a limited aale, but
atfiliaja hara baao only moderate and values have hpld
mtmiJ, claioK at lOUc. for Rio No. 7. The mild grades
aloaaC la fairlr good demand at steady prioee. with good
OlM«ta at llV>4[c. and aUndard Java at 88^(i38}<r. The
tradlrgio tbe market for cootraota b«a been quiet and no
ioaportant cbaogae bare occurred in raluea, oloeiog ateady.
The foUowteg were tbe eloaing prioee:
lea ■,.^...„ •'Vea-lAprU. e-Sie. I JdIt 100.V.
n* ^ a-aOa-lMay S-90a. Anc ...^ 1110a.
Itarefe e-aoa. I Jdm lOOOa. I Sapt lo-lOo.
Saw aogara have he«i> quiet. Rafinera hare been sliiihtly
vatfer importers in tbeir Tiewa, and aalea made have been un-
iBBMrtaat, closing at 8 8-16c. bid for oentrifuiral tM-deg test
aM t IS-ltc. bid for moeeoTado ^-deg. teat. Refined f>ui{ars
bava bod a moderate aale at ateedy prioee, eloaing at 4>gc. for
gnsolelad. Teaa have reerived slightly increaeed attention
aad vahiea kave beid ateadT.
Tba daeiiable gradet of Kentucky tobaooo have bad a fair
aall at Brm prioe«u Heed leaf tobacco baa been in fairly ac
tfre deaMDd at ateady ralue*. Salea for the week, 2.47S oaaea.
Karty In the week tbe market for Strain tin waa hiither.
ftllMqoentlT, bo«rrer, the iroprorf ment waa lott, aa foreign
•dvicaa torned weaker. Tbe clooe waa firm at 18c. Ingot
«rpper bae 'een in increaeed demand and higher, closins
at WVatUlif. tot Lake. Li>ad baa alao advanred.
; at • OtH9% i^^r. tor ooinesilc. Spelter baa been dull
■Meaeter, ekwug at itc^ic. for domceiic. I'ig iron has
•aMmaed.S"'** •^ *^y •* unchanged pricee, cloeing at
fll Mdlt for domeo t ic.
Metoed petnlnim ha* been anobanged, eloaing at 8 80c in
bUa., 9-ne, la b»lk acd e 90o. ia aaaee; oaphiha dull at O'^r.
Oade rafiMea'ea ba«e beea argl^oted. Credit balance have
•asaaieady eitOe. Spiriu larpeniliNi baa b- en in increased
1 a»d higher, oloeiog at t7X(»f8i<c Roeioa have been
al 91 70 for eommoo end R«>d airainfd. Wool hag
I aegleeud aad^ootaiiooe have been nominal. Ilopa have
COTTON.
Friday Nioht, January 8. 1897.
Thb Movwiairr or thb Cbop, aa lndioat«d by our telegram •
from the South to-night. U given below. For tbe eight daya
ending thU evening tbe total raoeipU have reached 196,537
balaa, agalnat 210.133 balea laat week and 377,61'> balee the
prarlona »ix days, making the total reoeipU since the 1st of
Sept., I8ft«, 5.118,790 biUee, against 8,679,98S balea for the
same period of I89S-9A, ahowing an inoreaae ainoe Sept. 1,
IWm, of 1,489.80» balaa,
Fr.
OalvaatoB
Tex. City, *o.
Raw Orleana...
HeMle
VtarMa
•avannab
Bruntw'k, ae.
O b ari as ton
PtBoral.*e.
mtaatagton....
Washton, *o.
■ertolk
Newport R.,ae.
Raw York...
Boston
Baltimore...
niUadelph'a.ac
letls this week
13.733
8,745
1,068
5,300
4,778
2,745
986
7,679
148
201
2.636
3,002
153
50,100
JTen.
5,697
14.745
1.807
8,943
655
861
4,430
938
1,103
97
32,765
fW«.
7,009
10,868
1,329
4,378
383
201
4,095
606
1,158
29,522
irsd
4,189
9,300
1,391
3,703
781
8,171
1,437
146
23,223
Thur$.
2,772
7,962
1,707
4,89«
774
170 346
1,838
583
1,851
43
21,672
fW.
3.996
1,894
4,470
1,917
3,832
1,544
4,987
468
8,573
700
37
2,438
343
1,653
4,656
742
39,250
Total.
36,336
1,894
55,590
9,209
9,183
20,638
4,987
5,80«
5,578
8,708
•7
23,641
491
l,7a«
8,786
7,658
3,334
196,587
The following shows the week's total receipU, the total since
.^pt. 1. 1896. and the stock to-night, compared with Uat year.
"^ ^ . • 1896-97. 1896-96.
■ssalptole
Jan. 8.
Oalveston...
Tex. C.ao.
Rew Orleans
MobUe
glorlda....
•avannab.
Bi'wlak, Ae
Oharleston .
P.Royal,*o
WUmlnffton.
Waah'n,Ao.
Rortolk
irportM.,Ao.
■ew York...
Boston
Baltimore...
ruiadel.,Ao.
TkU
Wt*k.
36.336
1,894
55,590
9,209
9,132
20,639
4,987
5.806
5,573
2,703
37
23,641
491
1,722
8,786
7,658
2,334
tine* Sep.
1, 1896.
1,032,133
70,669
1,540,332
308,721
56,718
639,923
125,791
323,551
53,415
207,813
725
584,705
12,403
31,696
109,401
38,622
26,182
nue
Week.
26,034
6,183
40,879
6,384
244
14,430
1,901
5,201
136
1,944
19
13,837
3,593
4,780
7,471
1,368
918
BineeSep,
1, 1895.
710,090
67,282
1,228,144
139,857
19,624
544.501
87,814
318.013
37,793
136,943
679
204,796
143,904
25,562
64,569
25,846
84,572
1897.
164,490
6,558
450,346
47,884
101,362
10,431
46,097
18,237
38,961
1,776
295,705
35,000
29,297
8,718
189«,
142,791
17,074
409,353
35,385
89,374
6,753
44,593
24,239
60,146
14,265
103,235
38,000
26,701
11,313
Totals Il'6.537 .■>, 119.790 135,322 3,679,988 1,254,362 1,112,812
In order that oomparuon may be made with other years, wa
give below the totals at leading porta for six aeasona.
MeteipU at-
1897
1896.
1895.
51,329
1894.
~2b,894
1893.
1893.
salveahiao.
38,230
33,217
22,485
23,551
MawOileana
55,590
40,879
69,443
49,981
45,615
72,94C
MobUe
9,209
6,384
4,940
7,435
4,229
3,968
Savannah...
20,639
14,430
18,776
14,515
11,562
11,617
Ohaa'ton, Ao
11,379
5,337
5,689
6,623
4,090
6,949
WUm'ton,<fco
2,740
1,963
2,519
4,413
5,501
1,457
Rorfolk
23,641
13,837
13,183
9,374
3.495
10,863
N.News, Ac.
491
3,593
11,045
7,352
3,368
11,116
AJl others...
34,619
16,682
30,822
14,226
14,496
20,328
rot. thU wk.
196,537
135,322
207,746
134,813
114,841
162,788
«noe Sept. 1
5119.790
3079,988
5595,698
4482,775
3H07,402
5194,295
The exports for the week ending this evening reach a total
af 193,287 bales, of whioh 107,093 were to Qreat Britain, 9.710
to F^moe and 76,451 to the rest of the Continent. Below are
the exports for the week anj since September 1, 1896.
Wttk BiuMitg Jan. 8. 1887.
mm Stpt 1. ISSfl, to Jan. 8, ISS7.
aasert*
txvnrUi U>-
arpotttd to—
Ortat
Ctonti-
Total
Qnat
Conlt-
BrU-n.
fVanM
ntfU.
Wuk.
Brita4n.
jyofict
twnt.
Total.
OslTSSton....
it .Ml
•,t7T
1S.71I
61.«U
6S«.7»
ISS.Mi
191.240
b7».414
r«x.atr,*«.
est
e»
..
13.I1U1
UJOl
I«»w Orlaau.
tS.<5»
ST.SM
S7.068
6IS.104
248, 4St
SS&,001
i,oes,«87
Mnbll*
1,107
6.SC0
:.«)-.
87.098
18,S«7
100,8SS
rorl(Ja
•,oeo
t.oeo
SS.7S4
4.»7«
44,166
teTunah....
4.N3
4,S83
40,78"
15,341
ni,3u
367,437
Braniwlok....
.,
87,804
8,8e«
71.480
ChkrlMton..
«,8SI
4.S31
88,783
143.W4
313,077
rort Roral...
5.a7S
i.na
&8.it7i
68.674
Wllmlncton..
»6.U1
1 7,871
183,803
Rorfolk
«,«&*
.. ..
(,U0
5,004
ItS.M!
6,300
30.800
180,843
H-portN.So..
»>•
e4«
a.7»»
8,7M
Na« Tork....
T.SM
1,*SS
4,llJ»
1S.6S0
U3 019
1S,Z8«
Bo.ess
It66.5»3
BMton.
7.741
71
7.81S
lt«.48e
i.«:6
138,784
Baltimore
S,lCO
WO
s.oo
tb,f«t
(,7Bt
34,»l»
88.343
Phllwlalphls..
HI
Ul
8,0b«
34B
8,406
8. Piaa..ao....
t.»00
«.ISOO
•S
1R.8S1
18,714
Total
un.oss
S,710
78.404
iM.n7
UMt.aso
<Sl,4W
l.« 0.648
3,817,067
Tote), us».«e.
ti.sai
tl.SIO
»a^
1U,016
l,0TtMa'si0,541
3,344^
Janoa«t 9, 1897.]
THE CHRONICLE.
b7
In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures for
New York, whioh are prepared for our special use by Messrs.
Lambert A Birrows. Produce Bxchange Building.
ON SaiPBOABO, NOT OLEASBD FOB—
Leaving
$toek.
Jan. 8 at—
Oreat
Britain.
France.
Oilier
Foreign
Ooatt-
mite.
Total.
Hew Orleans...
ealveston.
Barannsh
Charleston ....
Mobile
12,742
26.0't4
3.000
6.700
18,000
20.000
9.700
30,000
27,494
12,001
None.
None.
None.
Noue.
1,500
None.
21.620
5,500
12,000
10,800
4,000
6,000
2,380
20,000
609
2,521
2,000
600
None.
2.000
None.
None.
62,465
46,0^6
17.000
18,100
2ii,000
28,000
13,580
50,000
387,«81
118,404
84.362
27,997
25.3H4
Hortolk
Hew York
OUier porta
10,961
282,125
60,017
Total 1897.
126,206
40.995
82,300
7,730
257,231
997,131
Total 1896
Total 1891
110.S97
179,461
22.298
51,781
63,14H
118,699
24,643
22.065
220,986
372,0<6
891,826
803,725
Speculation in cotton for future delivery has been quiet.
The trading has been confined almost exclusively to profes-
sional operators and the course of prices has continued ir-
regular. Monday there was a lower market. There was an
absence of outside interest, and under liquidating sales by a
few tired " longs," prompted by the p' rt receipts running
slightly in ezcehs of the estimates, prices declined 12 to 14
pomts for the day. Tuesday the speculation continued
slow, and under further liquidating gales by longs,
prices weakened 1 to 2 points. Wednesday, however,
there was a stronger turn to the market. Foreign
advices came unexpectedly higher, and the port re-
ceipts showed a material skrinkage which stimulated
BoinethiDg of a demand from "shorts" to cover contracts,
and prices closed at an advance of 7 to 11 points. Thursday
the market was eas-ier during early 'Change under disap-
pointing foreign advices, accompanied with selling orders.
Subsequently, however, a light interior movement of the
crop stimulated moderate buying and prices advanced, clos-
ing 3 to 7 points higher for the day. To day the market was
fairly active and higher on a report that the movement of
cotton in Texas up to January Ist was 1,675,000 bales, which
was below gpn> ral expectations, and is taken as an indica-
tion that the yield of that State for 1896 97 will be below the
average e»timate. The close was firm at an advance of 11 to
13 points for the dav. Cotton on the spot has been quiet.
Monday and Tuesday prices were lowered I-I60. but 00
Wednetiday and Ihursaaythe loss was recovered. To-day
the market was quiet and unchanged, middling uplands
closing at 7 3-ltic.
The total sales for forward delivery for the week are
817,400 bales. For immediate delivery the total sales foot
up this week 23,578 bales, including 300 for export, 178
for consumption, for speculation and 23,100 on contract.
The following? are the oflScial quotations for each day of the
past week — January 2 to January 8.
Rates on ana otf middling, as established Nor. 23, 1893,
and revised Dec. U, 1895, by the Revision Committee at whiol<
grades other than middling may be delivered on contract:
Fair ^ 0. 1>«
MlddUngFalr. ... ^a
on.
on.
on.
on.
•trietOood vfiddllng..
OoodKiddllnit..
■trlot Low Middling >;« oil.
LowSUddUng ti alt.
Itrlot Oood Ordinary Htsoff.
OoodOrdlnary 0. 1 oO.
Oood Middling Tinged... Kveii.
Strict UiddllBg Stained.. ''39 oH.
Middling Stained H oS.
Strlot Low Mid. Btalnaa. . »„ on.
Low Middling Stained... . 1>« oil.
On this hiMis the prioes for a fow of ilio grades would be as
follows.
UPLANUB.
Good Ordinary
Low MlddUng.
Middling
OoodMiddUng
Middling Fair
■a
a
OH
V"
6"i.
7*»
718. »
•at. illou Tuea Wed VU. FrI
6»,a
6i>i.
7>«
8>ia
6>«
1H
91..
GULP.
Good Ordinary. .
Low Middling...
Middling
Good Middling..
MlddUngFalr...
Sat. Bon Tnea Wed Tb. FrI.
o
en
7
6» «
""I"
8"1H
638
7
7^
7)i„
7JH!
7''S
7\
8',*
STAINED.
Low Middling.
MlddUng
Btrlot Middling
Good MldJlliig nnge.1.
Sat. nion Toea Wed Tb
HoU-
day.
5^8
6\
7'a
5 'a
e\
6il-»
7i«
5»u
6l»i,
7'ie
6'!,
7i,«
7\
8»ia
frl.
6 S„
6|l„
7'i«
MABXET AND BALKS.
The total sales of cotton on the spot and for future delivery
•ach day during the week are indicated in the followins
■tatement. For the oonvenienoe of the reader we also add
a column which shows at a glance how the market closed on
game days.
SPOT UAMKMT
OLOSBD.
8ALB8 or SPOT AHD OOHTBAOT.
Saleiof
Future*.
Fz-
porl.
Oon-
tump
8pet-
uiTii
Con-
tract.
ToWl.
Sat'day .
Monday.
Tneaday
Wed'day
Th'day..
Friday..
rJu'iratV,',* ilVi"
Quiet at Vidre.
ual*t at'iaadv.
Quiet at lie adv.
i^olet
206
i'06
..Boll
■55
33
31
59
day..
i'9,'606
SOU
3,800
w,i66
1,055
3,833
131
59
"i'i3,io6
111,100
117.400
98,000
177,800
Total....
300
178
33.100
23,578
617,400
Thb Sales and Pmces of Fotures at New York, are
shown in the following comprehensive table.
►:?
2s
23
mi
d.i
„?
QDP
Its-
S:
S: •"
S: •
■ '90 -
fi^
; 3; I ; •;
lis : &?^
■a: 1
Bi t
n^Bi-in
a*-'^B-
B ,9pc>
■ 1%^
ODob rt-
OSmS
ti*"
S«|-(>
^oot-irt
p. i-i»
oo°6
act ^
»a
I «:
S^?
00
0)0)0 A
oaa CO
9? ^
0000 go*
tow 'S
o
tC to® 00
90) '3
aaocn
obob^-i
oboo fJ*
obto^(6
<i-j5<i
eo m
ooo 'S
I *.•»•
C6Cft ^
I «."'
A
A AO A
0»^ Kfc
A« 5
rs.-?
00
AAOA
QLob^ob
ACJ* U
A« 5
obob g.'
wo S
ob6*<6
2-)
-Joi
<i2
O'u
US
1 282
to u
•lA
B-J3I'
»OA-'S
I «.<="
00
60^6
co» o
AA 5
to<i*'S
I •.«f
ra
A AAA
W..1 o
AA 5
-1
A»35-J
l«.-:
A
tUJi 00
MO
to»
I «
ix"
M.»
I *.»"
•a-jo-i
MM*©
AA 5
CO ~*
-J-JOA
2^H
UKl ^
oo»3
I ».»:
to
WM®(0
MW A
«1-I
toM m;
• .•:
ta"-
voce's
1 «.«:
i2S2
PC o>
«)o
fit?
«l-JO«>
66«6
-4« Ot
I «.«•*
6»*M
OLl^ A
-J-4 5
OA '3
«1-)0«1
uu*u
AOD M
-1»)
MM ■,•
l«.*:
M
MM M^
I •-":
MM O
»1»J 5
•-<= of
MOOD'S
I «.*':
-a-JO-j
MM*0
MM g
I *.»r
Mj«_'a
•.►»: I «
-?-?|^ I I :
*fc»M ' I
MS 00
00 3
I « r
WM 'S
I « r
w
•]>IO->
mOm
I «.►«:
O^ M OOi^ 00
,?
MM
I •.O"
-1<10«I
MM g}
I*.*:
no
»)«JO-)
eiM*M
M— fc
MM n
MM '2
I «.":
MM jj
MM oj
ts:?
2li I
A I
IJ
Si
AA 2
<C<& ,2'
OOA 3
I • :
I
3A
5,6
A
AA i
ti ?
I «» r
00
AAO A
MM M
M '3
I « :
A>)
2S2
o e
r..?
M
i'
•5 ?
W*. '3
00
AAO A
tcti^to
-JA 0»
tt 1 :
<6l
•1 !?
M 3
!•: r
(ft I • I
*.
»l-JO-J
mmOo
A» «
rs "
M
-1-JO-J
§• 0*6
~i M
I« :
00
»>«)0«1
AA i^^
rs ?
M
AASA
eoeQO«
A-1 &
AOO>)
m-Oa
000
?
I I
%
\
#:? !•:? !•:?
I I
11: 11:
I I
X
3
n
o
M
o
►
5*1
Ml
I
t
* Inoludea aalea In September, for Bertember, 15,100: September.
October, for Oornher, 384,800; September-November, for November,
372.000; September-December, for December, 2,290,000.
f^We Have laoluded in cue auove taoie. and sQall continue eaek
weerto give, the average price of futures each day for each month. H
wUlbefoiinil umlep eaca iiay followins: the abbreviation "Av'ge." The
averaKeforeaoh month for the weeic U also given at bottom of table.
tW For exchanges see page 90.
The Visible Supply of Cotton to-nlght,as made up by cable
and telegraph is as follows. The Continental stocks, as well as
those for Great Britain and the afloat are this week's retums,-
and consequently all the European figures are brought down
to Thursclay evening. But to make the totals the complete
figures for to-night (Jan. 8), we add the item of exports from
the United States, including in it the exports of Friday only..
88
THB GHBONIOLK
f/OU LXIV.
tM«
IM6
1«»4.
u*7i^ uiifMo w<>S'S55 ^•*'2'2^
•.000
--JMllilTl ...^ *.00» ».00» 7.000 . .. _
UOOTATIOIfS rOB MiDDUIfO COTTON AT OTHER MARKETS.—
Below are closing auot»tioni< of middling cotton at Houthern
•ad other priaoipai cotton market* for each day of the week.
«a.ooo
• 11.000
•,000
•00
1«.000
117.000
5,000
71.000
40.000
K.000
■warn
•0.000
S&1.000
14.000
300
11.000
430.000
A.OOO
70.000
S3.000
17,000
10.000
3l.^.ooo
l.-i.OOO
too
IS.OOO
•99.000
0.000 .
fta.000
fl.OOO
17,000
WttktnMnt
Jan. 8.
CRKfBS nnCiSS i47'.!|M
^^s!000 18.000 70.000
ssuss
418.000
•8.000
8*1.000
41.000
•44.000
71.000
Paliiiti—ii inM*ii»-4«r
Otifc»>Ht^>»<aUtAi
1.8S4401 l.lli.8U 1.17VT31 l,l«l.99rt
M«.10S - •
4M.131
30.407
8«».4tO M9.«3l
• 1.714 49.009 .
Cnllm'lMf.Ul 4.00 t.»U
ate •• toUowi:
tmttm'Sw'ti'.
to««1arMoeka
•zyartal»-dar'
010.000 vsLoooLiflyooo 1,100,000
4A7,000 •31,000 737,000 650.000
O^S.OOO 4l«,000 831,000 044.000
1,1M.3«1 1.112,811 l,I7&,73l l,161,B!<a
ft»U05 ••.\4I0 M9,«\\ 4»l.r2t
4S.4»a •1.714 4»,0a8 30,407
«Ml4Mrteaa > S.i»i!oSl lUft.bM i<i8«,4»l 4.127,4U
Lttvneel
liBliie*
rSaroM....
151,000
0,000
78,300
•0,000
•7,000
195,000
5,000
75.300
85,000
•8,000
IMalBaMtaOia.**.. — nojOO *717.300
IMtf AJMMM ~ S^^m MM.934 4.516,451 4.1.>7.41 1
144.000
7.000
110.300
18,000
41,000
33MO0
22H.0O0
6,000
08,200
70,000
71,000
474.200
TMtf vMMeMFpIr -..» «.«S0JS3 4.118,13« 4,847,651 4,601.8^14
4d.
4>S,<t.
8»nO.
87i(dl
4Hd.
*»i.<»-
S*i«<l.
»»if<l.
47,.(1.
6d.
4>*d.
MMdUM VSa Hew fork.
■OT«**ee<lKiwa. Uvarpoel
Para*.Ra««kOood. Liverpool
•reaak na^ UT«nool
Tla—Tilly Oead. UTerpool..
Itf thm importi into Continent*! porta the past week have
k«eo IW.OOO baleo.
The abore llgaree indioate in iaoreoM in the cotton in night
to-aicht of 1(11.197 balea aa compared with the aame date
of 18N, a falling off of 827,818 balee from the oorreaponding
date of IMS aad a deereaM of SSI .881 bilee from 18B4.
At TSB ImaiOB Towva the moTement — that ia the receipts
for tlM woak and aiaoe 8epc«mber 1, the ahipmenta for the
weak and tha atooks to-night, and the aame itema for the
e m rMpoadi n g period of 18i»-iM— ia set out in detail below.
s c • • ■ -I
llhMilLili: P?: I
I
i
^
m^i^mmmithUBB'sttB^.
M**
O » — M
8» «
'^is^'isaisaiifr
^ M
ltfW»
ssBss^HSH**"*^^^^
l9
*■«■
'(XS
in
OalTeatoa
((•wOrl(
MobUe ....„
■•vaaaak
OD ir
— ^J-l-^l k»^
5p»gri*8.i.»B?M55S83c.JtSE3S6^Spg8
«o
it
ff* f
m^ isalgsi' i ggassliissllgis
It
• tUe rear'* ■««f«e
• laM raar^ •care* are fer NewlMrrr, fl. O.
n^aboretotaUaho w that the interior ttooka hare (Ur.reatd
teflag the weak 2fl 270 bal«a and are now 18,205 balea Ie«»
Uiaa at aame p»rio4 ta«t year. The reoelpU at all the towr s
ha»e b»»n 14,031 bal**mor«thiui«amr weeklaat rearandsince
■•»♦• 1 tbay mn 71H,4n bale* mort than for iime time in 1896-4.
WUaiagton.
■ortour
BalUBore
noiatoyl
StrLoSSlII
<loaatea...
OlaetaiiaM ■
LoolarOla..
OUMUMO viat^riuiM roa Miouuxa oortoN om—
Mmtur.
re
7
OJiii
JfOM.
•11 1
«■■
6H
OH
7*
•'•
6'i"
0'»
Am*.
Ji'l.
OH
6Tg
6H
6^8
IffdnM.
»•'■«.
J>H.
6^«
6',
6'«
•''k
6'.
O'g
6»i,
e%
•H
««•
«i^
ei'it
«H
•H
e>i
OH
«<>i
6S
6\
6H
eu
7'i«
7'e
2''«
7
7
7
7H
T^.a
77j*
• ^i
•''«
7
«H
•H
6H
OTg
OH
OH
6H
«'«
0'^
6'B
e'g
«*■
O'a
•T^
Cg
Nktohes 6i>,,
IUlal«li 9H
Beltna. 6H
Bhreveport . 6>ig
The olosing qaotatlona to-day (Friday) at other important
Southern marnta ware aa foUowa.
Atlaata 6>,( I Bofaala 0iii«
Obarlotte 6''g I.ltUe Rook.... •
Oolambas, Ua. 6>g Montgomery... 6H
Oolambiu.MlM I NMhville 6^
Rbohfts rROM tbk Plantations. — The following table
Indioataa the actual movementeach week from the plantatlona.
The figures do not include overland reoeipta nor Southern
oonaumption; they are simply a statement of the weeklr
movement from the plantationa of that part of the crop whion
Inally reaches the market through the outporta.
ITMk
Dm. 4..
•" U..
" U..
" M..
" tl..
Ju. 8.
SteHfU *t Uu Port*. Sfk at tnUHor Txmu. Btc'rU fnm Plant'iu.
lWS-07 l«6-»a 18IMHS
««»,IKW'2!!7,001 SJ1.461
t78.«e8| (34.060 SOS. 198
tr7.«u|isa.>i«lns.T»7
tis.Ma;i7«.n<|tsi.8&t
ISS,6ir7 ^ 1U.S22 S07.74«
i80«.eT i9R»-ae i8ei4»
U8.018
ee8,78>
S7S,T8I
S80.718
618.174
&6S.I06
6S1.S88
6M.S7*
866.131
«M.81t
681.683
866,410
484.023
801.606
6a«.«M
600,M6
668.661
1»6'V7 18a6«) 1804-66
W1.789
»8.S31t87,
6683MS^17«
KMSt
n6.84»
170.667
166,671
.743
161.748
136.439
163,186
U7,06»
1K,460
3SI>,7U
416.M1
S61.V7I
148.806
176.441
The above statement shows: 1. — That the total receipts
from the plantations since Sept. 1, 1896, are 6,551,401 bales; in
1895-96 were 4,213,693 bales; In 1894-95 were 6,107,014 bales.
8, — That although the receipts at the outports the past week
were 196,537 balee, the actual movement from plantations was
170,367 balee, the balance being taken from the stocks at
the interior towns. Last year the receipts from the plantations
for the week were 117,069 bales and for 1895 they were
175,441 bales.
OVKBI^ND MOVKMENT FOR THE WEEK AND SINCE SEPT. 1,—
We give below a statement showing the overland movement
foi in) week and since September 1. As the returns reach us
by telegraph late Friday night it is impossible to enter so
largely into detail as m our regular monthly report, but all
the principal matters of interest are given. This weekly
publication is of course supplementary to the more extended
monthly statements. The results for the n-eek ending Jan. 8
and since Sept. 1 in the last two rears are as follows.
January 8
Ihippat—
Via at. Louis
Via Cairo
Via Parker ,
VlaEvaniTlUe
Via Loalsrllle
Via Clnolnnatl
Via other routes, &o..
Total irroM overland
D€duct $Kipmenl$—
Overland to N. Y., bontoii, &o..
Between Intntlor towns
Inland, Ao., from Soutli
Total to be dedaoted
Leaving total net overland*..
1896-97.
Week.
21,690
11,480
Since
BepU 1.
848,129
185,434
9.742
1,587
91,866
83,169
70,661
790,328
207,891
2,495
30,505
230,951
559,377
1895-96.
Week.
13,464
6,039
141
3',444
4,009
4,188
31,885
14,537
"747
15,284
16,001
ainee
Bepl. 1.
857,519
162,591
12,168
45
91,19a
51,619
52,449
727,533
140.548
2.310
27,189
170,047
557,535
* Inolndlntr movemont by rail to Canada
The foregoing shows that the week's net overland movement
thig year has l)een ll,4!70 bales, against 16,601 bales for the
week in 1890, and that for the season to date the aggregate net
overland exhibita an incraaae over a year ago of 1.842 bales.
In Sight and Splnnert^
Takingt,
ReoelpU at port* to Jan. 8
Net overland to Jan. 8
^outbern conaamptlon to Jan. 8..
Total marketed
Interior atooka In ezoesa....
Came Into alrht dnrlnir week.
Total In alttht Jan. 8
1896-97.
Wuk.
196.537
11,480
22,000
230.017
• 26,270
303,747
40.060
Ane*
Befil. 1.
5,119.790
859,877
383,000
1895-96.
ir<ek.
13.%.322
1U.601
20,000
Since
Sept. 1,
3,679,988
557,535
384.000
6.062.1G7 171,923 4,621,523
431,611*18,253 632,710
6,493,778
153,670
5,154,233
996,4801 31,450 1,043,645
Borth'B spinners tak'ica to Jan.8 ■
* Deerease durlai: week.
It will be seen by the above that there has ooma into sight
during the week 203,747 bales, against 153,670 bales for the
same week of 18V6, and that the incn'eane in amount in sight
to-night as compared with last year is 1,839,545 bales.
Jancaby » 1817.1
THE CHKONICLE.
89
Weathbr Rkpobts bt Tklegbaph —Our advices by tele-
xraph from the South this eveDio^ denote that rain has been
quite general tbe past week and tbat in some sections of
Arkansas, Tenneseee, Louieiaca, Texas acd Mississippi the
I recipitation bas been rathtr heavy. The temperature has
been a little lower. The movement of the crop continueB
fairly libtral. Farm woik io maiiine (?ood progresa in T^-xi--.
Oalveston Testis. General rain at the opening of the week
put the ground, as a rule, in good condition for ploughing,
and work lias been rushed the latter part of the week. Some
reports are that the preparation of the land is better ad-
vanced than usual at this time of the year. There has been
rain on three days, the precipitation being forty-five hun-
dredths of an inch. The thermometer has ranged from 39
to 68. averaging 54. December rainfall two inches and
thirty-three hundredths.
Fuiemirie. lej-'iH — We have had rain on two days of the
past week, the rainfall being one inch and eighteen hun-
dredths. Average thermometer 51, highest 76, lowest 26.
December rainfall two inches and fifteen hundredths.
HaatffinUe. 'e.mg - It has rained on two days during the
week, with rainfall to the extent of one inch and eighty-
four hundredths. The thermometer has averaged 52, the
highest being 76 and the lowest 28. Rainfall for December,
one inch and fifty hundredths.
uaila* I'-j-iiK. The rain has been very beneficial to
farming interests. We have had rain on two days of the
past week, the precipitation reaching seventy-two hun-
dredths of an inch. The thermometer has averaged 47,
ranging from 22 to 72. December rainfall, one inch and
eighty-six hundredtlis.
San AntoTtio. 7ea-o».— The weather has been favorable for
farm work and the ground is in good condition for plowing.
We have had rain on one day during the week, the rainfall
being four hundredths of an inch. The thermometer has
ranged from 30 to 76, averaging 52. December rainfall sev-
enty-four hundredths of an inch.
Lulinu. 'Jexas — It has rained on one day of the week, the
rainfall reaching ten hundredths of an inch. Average ther
mometer 53, highest 76. lowest 30. Rainfall during Decem-
ber eighty-five hundredths of an inch.
<Jolunu>tii. Textm —There has been heavy rain on two
days of the week, the rainfall reaching two inches and
twenty- five hundredths. The thermometer has averaged 52,
the highest being 75 and the lowest 29. Month's rainfall,
four inches and six hundredths.
< Hero, 'J'rxan — We have had rain on two days of the week,
to the extent of seventy-two hundredths of "an inch. The
thermometer has aveiaged 52, ranging from 28 to 76. Dur-
ing the month of December the rainfall reached one inch
and fifty-five hundredths.
«»*» him Texan.- Rain has fallen on twodaysof the week,
to the extent of one inch and fourteen himdredtbs. The
thermometer bas ranged from 28 to 74. averaging 61. De-
cember rainfall one inch and ninety-four hundredths.
tort Hortfi. 'Jfxiis —We have hail rain on two days dur-
ing the week, the precipitation being eighty-three hun-
dredths of an inch. The thermometer has averaged 49,
the highest being 74 and the lowest 24. December rainfall
two inches and a-half.
Weatnerfora. lexcu— There has been rain on two days
during the week, the precipitation being seventy-two hun-
dredths of an inch. The thermometer lias averaged 51,
ranging from 27 to 74. December rainfall two inches and
forty-two hundredths.
Aew Orleant. lynittuina.— Rain lias fallen on three days of
the week. Average thermometer 55. Rainfall in Decem-
ber three inches and seventy-seven hundredths.
"Wirereport. (>out«uinu. We have had rain on three days
of the week, to the extent of two inches and eighty-nine
hundredths. The thermometer has ranged from 30 to 73,
averaging 49. December rainfall seventy-five hundredths
of an inch.
Columtnis, iftMisnfipi.— December rainfaU one inch and
ux hundredtlis.
euifui. MiMHi»sippi.—We have had rain on three days of
the week to the extent of two inches and rifty-eight hun-
dredths. The thermometer has averaged 39-6. ranging from
34 to 67. Rainfall for month of December ten hundredths
of an inch.
Vickslmro, Mitniuippi - It lias rained on three days dur-
ing the past week, to the extent of two inches and seven
hundredths. The thermometer has ranged from 29 to 71,
averaging 48.
mi- nifK. ilrfeaT>«.M — We have had rain on three days
of the week, the rainfall reaching five inches and ninety-
six hundredths. Average thermometer 46. highest 70 and
lowest 24.
Helena. Arkantai) —There has been rain on three days of
the past week, on two of which heavy, the precipitation reach-
ing two inches and ninety-nine hundredths. The thermometer
has averaged 44, the highest being 64 .ind the lowest 21.
ilempftt*. Vennwo.c'-.- We have had rain on three days of
the week, the rainfall reaching three inches and sixteen hun-
dredths. The thermometer has averaged 46-3, ranging from
21 to 68.
NashvUU. JfvnfKtre - U has rained during the we<*k to the
extent of seventy-seven hundredths of an inch. The ther-
moketer has ranged from 19 to 67. averaging 42. December
rainfall one inch and seventy-nine hundredths.
Vobtie. Alfthama.— The week's rainfall has been eighty-
two hundredths of an inch, on three days. Averjige ther-
mometer 50. highest 69, lowest 28. Rainfall for month of
December three inches and fifty-six hundredths.
Moato-rmery. Aiahnma - We have had rain on three days
during the week. The thermometer has averaged 46, the
highest being 56 and the lowest 42.
tl'iftison, ji'lo'ilUi.—'Rain has fallen on one day of the
week, the rainfall reaching twenty hundredths of an inch.
The thermometer has ranged from 31 to 68. averaging 50.
Sivaniiah, Georgia.— Umu has fallen on four days of the
week, the precipitation reaching two hundredths of an inch.
The thermometer has averaged 53, the highest being 71 and
the lowest 32. Month's rainfall six inches and eighty-six
hundredths.
■fupuata. Georgia. It has rained on two days during the
past week, the rainfall being seven hundredths of an mch.
The thermometer has averaged 49, ranging from 39 to 69.
December rainfall three inches and twenty-three hun-
dredths.
narifsUm, South Carolina.— There has been rain on
three days during the week, the precipitation reaching one
hundredth of an inch. Average thermometer 53, highest
71 and lowest 34.
iioteburg, lk>uth Carolina.— We have had light rain on one
day of the week, the precipitation being fourteen hundredths
of an inch. The thermometer has averaged 48- 1 , the highest
being 68 and the lowest 26. Rainfall for month of Deoember,
three inches and nineteen hundredths.
^^ilnon. ISortti C'aroiinu..— Telegram not received.
The following statement we have also received by telegraph,
(howing the height of the rivers at the points named at
S o'clock January 7, 1897, and January 9, 1896.
ivw Orlean* Above «ero of gkQge.
Hemphis Above lero of gange.
laabTUle Above zero of gange.
Ihrevaport Atiove «ero of gaage.
yiotgbarg Above tero of ga uge.
Cotton Consumption and Overland Movement to Jan. 1>
—In our editorial columns to-day will be found our usual
overland movement report brought down to January 1.
India Cotton Movement From all Ports.— The receipt"
ftod shipments of cotton at Bombay have been as follows for
the week and year, bringing the figures down to Jan. 7.
feor
■U6-7
•95-8
•94-5
•934,
SMfmuntt thU wtek.
Qrtat
BriCti.
1.000
Oonti-
Htnt.
13,000
17,000
5,000
24,000
Total.
13,000
17,000
5.000
25,000
BMpmentt ttnee Sept. 1.
ereat
Britain
4.000
6,000
1,000
10,000
Oonti-
nenl.
110,000
14H,000
39,000
135,000
Total.
114,000
154,000
40,000
145.000
Seetiplt.
Tkii
Week.
37.000
.^4.000
.SO.OOO
1,000
Unet
8ept.l.
342,000
516,000
179,000
329,000
BMpmenUfor the tttek.
ahipmentt tinee Sept. 1.
Ortal
Oonti-
0reat
Brilain.
ntnl.
Total.
BHIain.
Oontinenl.
IVXiU.
Oalontta-
1896-97...
3,000
3,000
3,000
13,000
16,000
189.V9B...
Kadraa-
5,000
7,000
12,000
1896-97...
2,000
2.000
9.000
14.000
33,000
1898-98...
All othen-
10,000
12,000
38,000
1896-97. .
2,000
1,000
3.000
12,000
31,000
43,000
1898-96...
l,00u
1,000
19,000
27,000
45,000
Total all-
1896-97...
2,000
6.000
8,000
24,000
58,000
82,000
1895-96..
1.000
1.000
39,000
46,000
85,000
■ XPOBTS TO BUBOPB PSOM ALL IHDIi.
Bhipmtntt
le all Europe
from—
1896 97.
1898 96.
1894-95.
Ik\t
week.
Mnee
Sept. 1.
Tki$
leeek.
Sirus*
Sept. 1.
Tkii
tfeek.
mnee
JkpLl.
Bombay ...
Ol other portu
13,000
8,000
114.000
82.000
17.000
1.000
1.S4.000
85,000
5,000
40,00O
64,000
TotRi
21.0OO
196.000 I8,00ol 239,000
5,000
104,000
Alexandria Rbobipts and Shipments. — Through arrange-
ments we have made with Messrs. Davies, Benachi <Sfc Go,, of
Liiverpool and .\lex4ndria, we now reoeive a weekly cable of
tbe novements of cotton at \lexandria, Egypt. The following
•re the reijeiptu and shipments for the past week and for tbe
oirresnoo'tinif wb«Ii of the nr«vinn» two years.
tttmindna, Bgypi,
January 6.
Veoelpta (oantan*)-...
run week ._....
8lnc*n>>nt 1
189f-37
140.000
3.111.000
189S-96
165,000
3.8 78.000
Bcportt ib»le«,—
^ .IvArpool
r.« Continent'
Total Europe.
Thit
week.
8.000
15.000
Since
Sept. 1
192.000
151,000
TkiM
week.
16.000
18,000
23.000 3l3.(iiMi|i34.000
Since
Sept. I.
2I«,000
159,000
377,000
1894-95
190,000
3,108,000
Tkie
vieek.
8,000
9.000
17.000
4 t^antar ■« !H otmndfi
I O' •»hlontn \(ni>r'<-> '•• >J<»H.'.i7
bdea: in l>il94-95. 22.029 baleii.
tine*
Stpt 1.
149,000
160,000
309,000
L 1. U ) iiiixs. to 1895-98,33,495
y»o
THE CHRONKM.K
I Vol. UlY.
UAMn»*tn lli«»«r.-Our report r»t)»»<r*l hr o»ble
«».MM| fi •• Maiioaaat^' MAM* inuui* .u«r.«. i> tlrm -or
nnSt-*d atoMl/ f«ir •.anlaaB* Tb« d'tumnd for c.iiin» U
^aiovtai '*'• giv* ttM prtOM (ur lo-Ujr b Ij« »nJ l<«««
^^»l T»i»*io—w— to oil 'to *»«»'— t f»%r lo' cjap-ruoa :
B*»4f*'M*T'i«^« 4 veto
- I« ••• •T»i. 4 1 •« JSl
- -"- ♦THk l^tM Til
lOMTa
jru.
"d.
4^
4
fMat.
•«« Ita. Mwl-
<lt^, MmMOH
MM MM'.
•Ti. • d.
4 5 ve 8
i &>••« 8
4 ft>t*6 H
4 B •« 7>a
4 S>«*A 8
4 & •• 8
OMTa
7^
d.
4»l«
4Sti
4i»
4%
4S
4»ii
Ostfoa lUmiPAcrouira at Fall Bitu in i8»o.— la ou
•4MmIa1 ooIoibm ihi* wc*k wUl b* foaod An artlcla under
tti* aWt* ctptioa.
■^A UL4X0 Ourroii M >rBMAST.— W« tui\i r«o«lTed thi*
(fridAr) •<«alB( Of i«(*<rApb from tbe vAnoai porta the
4gli^ih o( iM 8m l4%nd oott'in iaoT«iii<*nt for th« week. Pbe
fwaipa fir tbe week esdiaK (o-niKOt (Jaii. 8) And Nince
Sept. 1. 18^. th*«•oaluto•alKb^ Aod Ibr •aido Item* 'or tbe
liiiiMJ^tM DoHodeof IWW-'W. \re a» follow*.
«/•». t.
iwe-*7.
fM*
tn
tS8
t.4«* 71,890 S,aM
S.95(l 8d.l>96
189SaS
Fku
tu%e*
atpt. 1.
2SX
244
a.aii
63.783
9.0 i3
4,-.2J8
18W7
27.83S
6.3 74
3.0012
77.074,37,214
1896
17.533
3,47&
677
iO.685
The ••■■••fta for tne w»»k ending itiia eveninx reach a
total of 9.1\3 lAlt^. of wblob 1,38} tele* were to Oreat Briuin,
Mi to Franc < 4n 1 - - to Re 'ti, «ad tbe amouat forwarded o
itilU aaa been I.ilS oAle*. Below Are Cbp exports
Tf 'k «nH <<n~> floDtMBber 1 ia 18M-97 and IflS.'J-Oe.
mmt »m*lm« Jam.8.
i.<n»
I,M9
^fl U M « 981
set
8«4
i,as9
aUtm Stpt. 1, 189B.
9pm< rr'ntt _.^,
U.022 9,776
1.9S8
e.s%5
4,00J
8.1ft3 34.318
I9S'
3.331
"ioa
6.210
5,360
14.708
1,939
4.00 i
103
80,S38
30,729
JToriA'n Killi
_ . Sine*
Wttk. Upui.
1,110
20
248
1,418
90B
15.H99
7*3
4,501
2l.l»2
410l25.36»
RoraL— The 1 .370 bale* reported lo at ■• Se« f.|*n<1 ih I p ned
Srua«l-k Itat wMk wm aplaod O'lttoa. rhs amouai U tberefure
26.045
from
I treat abora •lataBeBU of raealpu aon esport*.
Jan. 6 at SATannab, for Floridas, common,
I9i.; M^inn fln<, ISii^c.: ohoio*, 10c.
abu<<M(oo, aAroliaAa,melium ane, tSo.: One, 81c.; fulW
•m. itaHc.
BSOBAiKica.— Fbe following exotiAagea have been made
'S9f4.M*u>b. <00 J*«. tor >f«T. 12 »d. to ttoh. 900 J^n. (or Moh.
■ISp4.«e««A.3 I0<i«l'h tor >t»r- -2)p<L to at<b. 500 N ir. for ralr.
•tS pd. la •xsa. «» i*>i far Weh. -27 pd. toexar. 30) Fab (ir Juae.
*ltpd.t*«i*k. 2.0<J I >(*r f ir 4u< -0' pd. toexob. I >0 4(111. for \pr.
'lle4.Max«k. l.OioM.r for 4n«. -Hoi. u>«t'<b.2.^0 )M«b for M»t.
^•pd-teaxeh. 'Oi X.'h. for Mor. -it od. to «xnb. 3 .'> Hoi for luijr.
'f§p4.Maxaa.50i'>.<t. for Au( 08 pd. taaxob.50C Fab. for Mob.
"tt pA. M aiah. 100 Mob. for Aii(.
JiTTsBoTra, Buiiisa. fta — rha mtrkat for jute ba;<iiK
toa bees oaiat 'iu'ia< crt* week uidir r«»t«» at uqnKta^ed
prloM, Tir. *\\ for l*^ lb»., 5o. f ir 8 IWi and "''fj. for
tteadArd grAlnia a j<Shiai( way. Cir load lota of sualtrd
brAnioriqtHel At tt^e. for (^ Iba.. ^x for 8 Ibi. anu.^'io.
farS)^ Iba. I. o. b. At New York. Jute butts are slow of
Mleet I 1 »«>. for p«p«r qjilitjr, IV^#IY3. f >r mixiou «nd
bAfgtog aad IK \ for aoiaaing bu-.M, ell to arri»e. From
■eesTA. Irt A. KioACx'a oircaltr wa la%rn tbtt the deliv-
ef<aa ol Jj<e ba:t* and rejeotiois At Htw York and Bxtoa
dariax Dioam'j'tr were ool/ 8 .^)0 balas. aKt'oit .SVi bil^w for
the aAOM Booth last raAr. bat for the caleo lar y^nr 1836 the
dalirectea raeobfd onfjr HiAM btlee. «i(ttn4t 411. 72S bales in
IBM. Iveortera and aaecuUcora At N 'w Yirk And B «toa oa
D«ee«bwlt haldaiatock. agaiail 3I.0K» btlas at th« cor-
teepoadl m t data !■ 1883: tbe amouat «fl)«t for tbe United
gt A'.ee r*A O'»<a Itr.lSi oilat A;{tia4i 2U 8)8 ttUt lut retr.
•lBm»o IfBwa.— The exporU of cotton from the United
g>****h*P** week, as per Itttmf mail returns, have reached
••Mp ha lee, 8o f at «a the Southern porta are oontiemod these
"• S5? '•'•••"'•»•*• '•P«'*«<1 ''^ teleifntph an-l publlHhed in
«• UnoinoUl Uet rridAT. With regard tf) Nhw York we
iMiodettte mAAlforta of aU reaaela olnAred up to ThurTwlAr.
Total balii.
I* »«<•«. par •» .a a •r4 \i.iti«
•• '»l'a4'.p"»a«<»«
1% ▼«■>»•.
•r P«»» lie.
p^«t •■■>r Pf mi^
I. 6« ...P-n lun t!tO. ...
l»n ...FuM». 1.223
100 '"* ■"
'^V •••• •■• ••■ .«. ... . .
l,16S
842
100
1.314
l.<t3
a7>f
.100
I6.5M
6.500
3,0.0
Xt.8%0
14,250
850
31)0
1.900
3.50*
I.IOO
0.145
8.8S0
5,208
1.200
510
5.366
1.494
960
9,346
11.8H0
5,381
4.450
19,371
14.S9i>
1,951
14.103
13.335
7.950
1.500
S).791
3.582
191
3.579
1.488
1,700
458
100
3.600
10
taUU
Haw OBLAAIA— To Urerpeol. parstaeBBis Kl»rldlan. 3.560 .„
0«ll*an. 3.4^0 ...Honrth. 2.945 ...Va«la. 6.600
Ts lfauooaat.<r. prr •tmtiDar laurel Braaob. ti.iM. ..........
To Ball, per a(aa a«r ItalBtODdaia. 3,0 K). ^. ......
Ta Harm, per ataMS>v Moaiexuma. 14,>t^0 .. ._
To Brasiea. parate<ma « (d*r.9,6%0 ...nt Oiwald. 4,6x0..
Ts RiMUnUm. parat'.amar (Iar<l»n(cr, 850.....
Ve U'boA. par aalp FMrrara. SuO
V* BareatoBA. p»r<i«aiu«r MUOkI Jorer. 1.9 0....m.m.....
Ts Oaoea, par •t'a'uer rar(>«(a. 3 50 • ........ ...
To rritste. par '•taaiuar I'argaate. 1.100 .........
aAL'B^TDK-Ci UTorpuol. oar aiaainvr BIta. <i.l8S ....... .....
Tu Havre, par atrt.oKr K*ndal Oa-tla, ■,2iO ...............
To Bre«aa. parstaaiaar Pulwell. 5.104
To 0.i.,eaba<ea. p-r*ie*n»r rbornt >Bdala. 1,300...........
To naiiibnr*. p»r nuiamer Elanmoor. 5 .u
KOBILB— Tu I.lrxrpooi, |M<rai»»fnsr Rof Il*t, 5.<65...
PamiAOOLA -To Lire-pool, prriMamer Nattaemate, 1,494......
To rain|>la», |H«r 8t«*iuar U(o. 250
aATANXtH-ro Urarpool. per steamer Aldrrly, S,75i upland
and 3,4S3 it«« («lsDd
To BrameD, per ateamrr Strathhurn. ll.KAO
To Karoa ona. p-r at -a uer U.trlau<la, 5 281
To Oanoa, per >te*'uer KlUK'-wuod. 4.4S0 ... .. ....... ...
BaOHsarioc— TO Liverpool p«r*i«aui«r M^roa. 19,S7i
OaAALcaroM— Tu B.nneb, per ateamera Mab, s,717 ...Nord-
kap, 5,673 ........... ... ........ ..... •■■.. ...........
To oarwluoa, p«r hark Harla AutoDla. l.iM
Poar itorAL- Po Llvt«rpool, per steamera BtUoraic, 6,990....
Wernelb H»ll. S,ll'.'
HoaroLK— I'uUTerpool, persteamera Dorset. 5,835. ...Wilder-
aiM>'ti. 7.^00 ... ............ ... ...... ........ ....^ ........
To Hteoieo. per ataamer Bretwalda, 7,9 0.
HawFoar NBica— Tu LUeroool, peraceamer Kaia«b> I.50J..
■osroa— To Ureriv^ol. per ate«iii4ra Amcloman, i.Hi.'V upiaod
an.l 561 8-a [iUd < ...0«<til«n. R.7<i6 ...Ooilatkta, 3.048
8acb m.3.t32 Vtoorlaii. 8.09B ... ..._
Baltimokk -Tti Liverpool, u r ateamer Uistermire, I.iii......
Tu BM.f.i<>t, per inaaiU'^r Loniimderrr, ix^.
lo Bmnrn. oar ateamert Wrimitr 2..^70 ...Willenad. I.0<)3
To Kiitierdiia, per ttrntinera PAtap>0'>, 19> Rabenatelo,
45u I'ab.aoo. 3s9....Urbluo. .vh) ..
To ADiWrrp, per st«a<iier qootilab KIOK, 1.7 >0 _......
PsiLAOBLPHiA ro Liverpool, perateamer Indlaaa, 452...
ro Antwerp, per Rteamnr tlllDoU. loi)
8aA FBXoiaoo— rn jAiian. p-raieamer Bel<lo, 2,600....... ....
To Chloa. persteAmer BoIkIo, lu
Total _........ „ 246.378
Below we Add the cloArAnoes this week of Teasels cArrying
cotton from United State* porta, bringing our data down to
the latest dates:
SALTasTOH-To UverDool-Uec. 30-Bteacaer Glasgow. 4.999
D<o 3l-3tB.tn^r Frtonooor, 5,600....! to. 2-'lt<*ner8 Bernard
Hall. 5.443: Oi-oiuwell, 7,lt4 ...Jaa tf— Steamer Treaaorr, 6,706.
To .Wano beater -De'). 31— steamer rarklslaa. 11,310.
To Havre -Dao. 3 •-Steamer Kautsfurd, •i,i77.
To Bremeo— Jan. 7— Steamer Adra, 6,7''0.
To HaiDburc -Jan. tf— Sceiiner rr »ln. 3,U0'>.
To R'l't-rdam-D'O. 3i>— Steamer UrJ. 2,493. ...Jan. 6— Staamer
Axmlaater, 1,341.
ToV.ir»Oruj J ia 2— 9teaai'»r Uto. 911.
{Taw OKLKANs-ro Liverpool -Jan. 4-ateamer QuadAlonpe. 8.070 —
Jaa. T-iteamer Ruropaan, 19.300.
To M«nobx«'er-J»a .^ -itea iiT l'h'im*< WtvDan, 3,331.
To Bt-ICiiao— Tao. 7— Stetiiior Ra'norrt Head, 2.760.
To Diiblia - laa. 7-8teamer lalsbotrea Heal, 1,U48.
I'D Brn uoo— /*a. 4— *te* aer L lOb l"av, 6 ifJ.
To \oc<rerp-Jaa 4— 'iteaaer vf.iorlm Pil lo >, 1.003.
Tn O i(>enba{«a -Jaa. 4 -Htttimer FA ta«.>l I. 1,599.
To Ba OHirina Jaa. 4--teamer Puert> Rloj, 3,91)0 Jai. 6—
Steamer Catallaa, 6.213.
To Jfalaxa- Jan. 4— Sleaioer Puwto Bloo. 1,000.
TDUeaia-jAO 4-3teamer» tlilra. 2.37t) ...J ta. 5-3teamer 4ola-
dl 1. 7. 100 ...Jaa. tf -StMmer O tcallia, 2,iai.
To rrlniti) Jaa 4— XteAmer lUlra. 1,400.
MOBiLB r.i Uv r lOol-Jio n — Sterne- Uatle E(ea, 1,9)7.
To rtremea -Jaa. 7— iteimw Dalmallr, 5.300.
PbiisaCol\— Tn LIvnr.iool— Jaa. I— Sceamer Le»njra. 5,30)....Jaii. 7-
Sieaioer Mala. 3, '6 i.
4ATAJiHAii-ro (ib-<at-Jao 2— Steamer rhnr. 4,8iM,
'JHAaLasTO!!— To Br'-miu— Jan 6-Steamer aar^tll. 4,331.
'UBT BoTAL— To LIrerpiral -Jaa. 7 -stea oar Otxi. 5..t7i.
Moar luic -Ti) Mvarp •oi— Ja i. I— Steamer Piaaer'a Pjlat, 2,154.
To Leicb— J«a. <— Steamer BhIioda, aOO.
To Jaa. 6 -Sr.-amir , ^,350.
«aw?OBT 9rB<r8-Co Llverpiral -Jan 2-Steamer Rippabtnnosk. 049.
BgaroH -To Llvarpaol- Dito :n— Steamer Riman. l,>7ti uplaad and
924 Sea Idtnd ...Do 3l-Steamer P.>v.i .la. 1.434 ...Jan. 4—
Steamer viioblicaii, l,l6i uvlaad and 600 Sea lalaad ...Jan. 5 —
8'eamer Puilvleipblan. 2,039.
Tn Y triuiii b-U.)0. Ji— jtea'n-<r Boston. 71.
-lALTtJioRB— To Havre— Oon. 31— Steamer Alnwlok, 3,100.
To Bremen— J ta. tf -8i-«m«r Vanbea. 9 •O
PiilLAOBLPiilA— To Liverpool— Dao 31— Stxamer Rbralaad, 551.
rAC>»IA— I'u jApaa—060. 30 -steamer Maclult. i.tiO).
lAM Fbahcisoo— ro Japan— Jan. 7— Steamxr Peru. 9au.
Gotten freights the paU week n%v 'mhh iah follows.
Atlttr.
JToH.
fuw.
WtdHtt.
TAurs.
*»».
LI rerpool.aaked .<t.
"1.8
»!.*
»!.*
«'l.S
»lfS
»l«*
Do d.
....
...
.*••
.••
....
Harre ... .......r.
311*1
801
31 1*!
SOI
31>*<
801
31>sl
301
31>sl
30*
81)*«
i>o e.
Bremen. d.
301
Do .„ d.
..
Hamburg ...„..<(.
30
3>l
801
301
301
301
Do d.
....
....
....
....
....
Aniaterdam .....e.
30-3 {>■'
ao-i2>*
30-32 >«l
30-32V
30-33>*l
30-32 >■
fleral, T. UamU.rf.
>»..
'•a.
>»s.
"««
".4
'»*«
Do ▼. Hull...d.
"«.
>•*•
>».«
»»ei
"**
"m
BaroeloBA .d.
....
(^noa d.
351
sst
SSI
351
831
Ml
rrloata. d.
»IS
«»a
>l*
h»
»IS
*IS
Antwerp d.
»»
*a
»»»
»!»
•»s
»>l
Qbnnt,v.Antw'p.<(.
»..
«..
*»<•
».«
>l*
»ts
I Oentanet per lOOIbs.
LXTKRPOOL. — Br "•I'lle
»ta^.eTient of titi <re««'i
fro II IJ»>»rixM)l wa h»» • the following
Mtei. iiihiki. t'!.. at ln>it port.
jAJUVKity 9, isn
THE CHRONICLE.
91
Baleaof the week bales.
Of whlob exporters took....
Of whlob speoulatorg took.
Sales Amerloan
A otnal export
Forwarded
Total stock — Estimated
Of which AraeiioaD— Eatlm'd
Total Import of the week
Of which American.
Amonnt afloat
Of which American
Dee 18 Dec. 24 Dee. 31. fan. 8.
77,000
1,000
1,800
74,000
8,000
84,000
856.000
722,000
130.000
115,000
324,000
320,000
65,000
1,700
1.700
62,0001
6,000
71,000
912,000
768,000
133,000
106,000
387,000
360,000
44,000
1,900
400
39,000
3,000
50.000
999,000
854,000
145.000
134,000
335,000
330,000
58,000
900
300
61,000
5.000
72,000
1,071,000
919,000
149.0O0
127,000
378,000
373,000
The tone of tlie Lirerpool market for spots and futures each
4at of the week eadiaj; Jan. 8 and the daily closing prices
<lf spot ootton, have been as follows.
BpoL
Saturday
Monday.
Harden'g.
4>32
12.000
1.000
Steady at
2.64 ad.
ranoe.
BtWidT.
Tuetday.
Quieter.
3« a
10,000
500
Wtdfday
Thurwd^y.
maai
MaAet,
1:45 p. M.
•nrt.npi'dB.
■alaa
Bp«o,&exp.
:
Uarden'g.
4
12,000
500
Oood
demand.
4
12,000
500
Steady.
4
12,000
500
futures.
Market, (
1:45 p. M.\
Market, (
4 p. M. 5
Steady at
3 M(93-<M
decline
Quiet and
•taady.
Steady at
l-M ad-
vance.
Firm.
Quiet at
partially
lKi4adT.
Barely
steady.
Sternly at
3-Slad-
ranee.
Very
steady.
The prioea of futures aI Laverpool for eaua day aic lov n
belovr. Prices are on the basis of Uplands, Low Middling
clause, unless otherwise srated,
rV* ^^ prices are giten in pence and 64<A. Thus : 3 63 means
S 63-64d.. and 4 01 means 4 l-64d.
Sator.
non.
Toes.
Wed.
Tta
lira.
Kr».
.Tan. 2 le
Jan. 8.
1:45
4
l:45j 4
1:451 4 1:4S
4
1:45
4
P.M.
P.M.
P.M. [p.m.
P.M. P.M. P.M.
P.M.
P.M.
P.M
d.
d. \ d. \ d.
d. d. 1 d.
d
d.
d
January
3er
3 5S'3 .^6 3 55
3 59 3 603 59
3 58
3 60
3 61
Jan.-Feb...
i
3
O
i3 8»
3 5S:3 55 3 .■>5i3 58 3 58 3 58
3 57
3 59,3 «0
reb.-HarelL
,3 59
3 5S ,3 5^ 3 55 3 57 3 5^ 3 5»
3 57
i 59 3 60
Hoh.-Aprll..
April- May ..
May-June..
3«0
!« 58'3 55 3 55 3 !,-' 3 58 3 58
3.57
3 50,3 60
3 6<>
3 .59 3 56 3 5t! -J S" 3 59 3 5-i
3 57
3 5H
3 60
S]
361
T BO 3 57 3 5Hl3 ^9 3 .S9 3 .Ml, 3 58
3«0
sr.i
Jana-July..
3KV
3 fl" 3 57 3 .57'3 .".9 3 60 3 60 3 59
361
3 62
July.- An...
Auff.-Sepi..
3 62
161:3 58 3 69l3 8«H 61 3 60
3 59
3 61
3 63
3 61
3 60 3 5713 5613 59i3 59 3 59
3 58
3 60
3 61
aept.-o«t...
OoV-WoT...
....
1 1 ....
...
..•■
KoT.-D«o...
1 ... 1 . 1...
BREADSTUFF S.
FBioay. Januarys, 1807
There ha^c:intinued a quiet market for wheat flour. The
home trade hu limited ihi purchases almost ezcluoirelr to
actual requirernents, and the export clemaod has also been
light. Supplies in sellers' hands, however, hare been verv
moderaip, ind Talues have b«en fairly well maintained,
althouKh at the close a wraker market for the grain caiut^d
an easier nQderton<>. Ryefl>nrhaa had a limitp<l sale at un-
obanged values. Buckwheat fl lur has sold slowly and priot^s
b«ye wt-akeoed 10c. per bag. Com meal has been in fair re
quest at steady valu»«. To-day the market for wheat flour
was quiet and with.iut ch<inKe.
The speculaiivf dealings in the market for wheat futures
have bten moderately aciire. Eirly in the week the course of
prices was upward, as unfavorable weather conditions at the
West for the growiog crop and stronger foreign advices
stimulated a demand from shorts to cover contracts and also
induced some bujing for investment aocouot. Subse-
quently, however, the market turned easier and the
improvement wss more than lost under llqui lating
sale* by longs, prompted hy later advic'>s from the
West reporting weather condiiioos from the West as deci-
dedly favorable. Yesterday the market again turned stronger
on a continued active export demand. In the spot market
shippers have been fairly large bryere. their purchaoes for
the week here and at out ports amounting to about 750,000
bushels. To-day the market was depressed. Qaiet and essier
foreign advices prompted liquidating sites ov "Jongp," and
prices for the day showed a decline of i}4'9\%c. The spot
market was moderately active, but at l^twer prices. Tne
busioesa transacted waa oa private terms. No. 3 red winter
was quoted at »8o. f. o. b. afloat. No. 1 Northern Duluth at
»3J<c. f.o.h. sfloif, and No. I hard Duluih'at 953^c. f.o.b. afloat
Danr atonaa raioaa <•* bo. s bid wnrrBa waaai
"♦' ""n. Ttut W«d Thurs »w.
January delivery o. 9I«i 92 91>k 89'j 90=8 »<fi'4
■arefa delivery o. »3>« 93i| 92'', 9l>« 92 90\
Maydellrery „,...e. 90 89^ 8w>e -7«» S-t* H7
JolydeUrery o. 86«« 86 %i^ 83»8 845* 83'4
The tritdin< in the mark-t for ludian corn futures has been
^uiet and changes in prices have been unimportant. The
West has been selling, prompted by a free movement of the
crop, bu';_there hss been an active export trsd-, and this has
served to hold valu'S about steady. In the spot market
buainfM has been active. Soippers h»ve been large buyers.
their purchases amounting to about 1,500,000 bushels, with
the dehvt-ries ranging from prompt up to May. Tod ty the
market wss auiet and easier in sympathy with a dfcline in
wheat. The spot market wss fairly active, as shippers con-
tinued buyers. The sales included No. 2 mixed at about
30^c. f. o, b. afloat and No. 2 yellow at 31c. delivered.
OAILT aLoamo paioas or no. a mizbd uoan.
8iU Man. Tues. Wed. TKurs. fri.
January... c. 'M^a 29<>g 29>s 29^8 2-H 29i«
May delivery ... a 81H 31\ Si's Sli* Sl>« Si's
Jalydetlvary o S2''a 32% 3i»t 32°^ 32>«
Oats for future delivery have continued quiet and there has
been a gradual sagging of values under free offerings from
the West prompted by a full movement of the crop. A ma-
terial decline in prices, however, has been checked by an
active export demand, the purchases by bhippers in the spot
market during the past week amounting to 1 .000,000 bushels.
To-day the market was quiet and easier. The »p»t market
was fairly active but at slightly lower prices. The sales in-
cluded white clipped for export on private terms; No. 2 mixed
at 23>^c. in elevator and No. 2 white at 2A}^c. in elevator.
DAJLT oLoaniA PBioas ov BO. a mixbd oats.
Alt. Kon. Tues. Wed. Thurt. Pn.
January delivery...... .o. 'ii^ 22'4 22t« a 22Xi 22
February delivery o. 23 22'i 22% 225s 22''» 22i«
May delivery o. 23''8 *3\ 23'iB 23^ 23°b 23>t
Rye and barley have been in better export demand and
steady.
The following are closing quotations:
PLODB
rtae Vbbl. t3 00« 2 90
Snpertlne 2 30S 3 25
■xba, lfo.8 3 75» S4U
Sxtra, Ho. 1 3 409 3 90
Jlears 3 60« 4 60
<tral<bta 4 30*4 75
Pateot. spring 4 60« 4 85
[ l^eat flour In sacks sells at prloea below those for barrels.)
OBAin
Patent, winter S4 75« 9 SO
City mills extras S O*** 5 10
Rye flour, superfine.. -JlOn 8 10
Buckwheat flonr.... 1 15« 1 St
Corn meal-
Western, &0 1959 ^09
Brandywlne SIO
Theat—
a.
e.
Spring, per bnsb..
8t «
96
Bed winter No. S..
95 9
9S
'*«d winter ^
85 a
99
Hard, No. I
9d>s3
9J»»
t»al»- Mixed, per bn.
m »
33 >9
irhite
21 9
22i«9
23>«
90. S mixed _
«o.« white «
94>t»
25>9
Corn, per bush—
West'n mixed...
No. 2
e.
e.
26 •
31
293)99
30%
37<«9
32
27*49
3a>*
42 «
47
42 9
47
43 9
50
32>a*
331*
Western yellow...
Western White
Rye-
Western, per bnsh.
State and Jersey..
Barley— Western
Peeding
The movement of breadstuffs to market as indicated in th«
statements below is furnished to us by the Statistician of th«
(Hew York Produoe Exchange. We first give the reoeipts at
Western lake and river ports, arranged so as to present th«
oomparative movement for the week ending Jan. 2, 1807,
and ei loe August 1, for eaoh of the Uat three years:
BsestpUat^
FloMr.
IDtwI
BNs.lSSte
BiMvao'ta
Oblcago. ...
as.ssi
iTLSoe
miwankee.
83 800
ISJ.OOO
Dalntb
4a»,848
Mlnnaap'Us
WS
1.061.570
Toledo
sai
SI. 100
Detroit
S.SgO
n 1.075
Olereland ..
s;»
IS,71S
St. I.onis...
It.SiK)
1U.60«
Psorta
S,«6n
SS.8J0
KaniasClty
TUOon
Tot-wfcW
lis.soe
S,!*'.!-!*
Samewicsil
141.815
t.tH8.0«<
<lame<rk.*M
SS.OIZ
1.IS»710
ilnc4A<tt.l.
18»«-B7. ..
S.«'2.*«-
lOO.OSt.tSn
tSSS-M...
8.<n3,«ac
lSl.aiS.7g2
ISM-M...
S.S7* 1 11
t''.'! S57.H8K
7«,lir.78<'
53.SH.09u
38..V>7,4t«
The reoeipts of flour and grain at the seaboard ports for the
week ended Jan. 2, 1897, follow:
Hour,
lUeiipUat— bhlt.
Kew Vork UMiO't
Boston S(l,.''3'i
Montreal K.'g'*
Philadeluhla :3.S87
Balllmore sit.sii
Richmond t.02S
New Orleans* 9,47*
Toul week...
Weak ISSe.
iriisat.
b^Uh.
tOfl.ono
SS4.323
4.0M
U.430
n.ito4
17,41U
Com,
bush.
fl'.!t.UT6
^fun.SSS
1400
A in. 190
l.'Ml.SIX
I2,lft8
1.0 Jl, 983
99S.22I
•insnai 3.(i'«'.lii i.«i».iii!i
SSl.lUi l,97M4S
Oltt,
BftrUry,
JlVS.
blu^.
tnulk.
bum.
xai.-ou
43rt.sn0
1,9S0
11^.310
8.017
S,2S1
U,i«4
l.lOl)
7,5800
11 i.mo
7.«00
l>4».,'S5t
lO.UOO
4«.«4«
I8."8»
44S
<2.7t<>
aia.ni'i
t77.«»7
(8.171
731.837
2d3.7i3
*.r»7
' Ret*«)lpts do not Include irraln passlnjt throtigb New Orleans for foreign
ports on throiutb bltU of lading.
The total receipts at ports named in last table compare a
follows for four years:
R«CClpt«Q/ —
Flour. bbli.
Wheat
Cum -
Oats
Barley
Rye
Total grain . .
I8»«.
13 105 8 Jit
. S8.At.1.4JI
t')3.2U1.53n
74 9'H,n«4
13.<I4.75«
«. 199.517
.•ns.gss.zeo
1805.
W.240.at).S
<W.35 1.510
lnl..^8e ss»
71 3IH.7S0
1.4 4I9HS'2
« ll.^771
2«3,>i«l,*0S
1894
>1.0O9.7ti»
50.940.21.1
S0.41H94N
41 IJT.aHB
4.9^2.0.19
5U.<,42S
l«1.099,9i9
1893. .
304S3.M1
68.138.947
49,774,487
46.499 347
6,119.861
6M.08I
U9,1»0M
Note.— &3 weeks In each year.
The exports from the several seaboard ports for the week
ending Jan, 2, 1897, are shown in the annexed statement:
nksat. Com.
Bmsorts fram— lush. bush
Nsw York. . . SSJ.S'is ssn.rw?
B«i»on 4B921I) 204.213
Portland .-3.>M8 ...
Pklladelphla . 13'inQ 3t9.5MI
Baltimore. . >*l.noo 591.884
Newurleans.. 44,030 8«.n.2;9
.Norfolk 248.414
Newp'rtNewi 101. ino
St.Johna.N.B »».Z7a
GalTsston... 23.816 1<H,713
Totalw'k.. 1.041.3 2 2.IIOI.S14
Sametbne'9e.l.l97.188 3.434,716
Wlour,
bl>l«.
l'i4.S'«
20.168
8.74»
1,9:9
14.124
1(12
9X8
30,:f93
4.830
231.148
270.058
oats
tfuh.
«7.8Se
9.s: '6
29.!'29
4S3.n25
TOO
ttyt,
bvh
54.002
Fm>,
ftlM"
8,817
44.PB*
1,200
8,891 ««,rs
e«9,»'6
61.758
83,763
74.767
24,<ST
Barlst,
bush.
61S.9S8
8,261
644,U»
THB CHEONICLB.
[Vol. LXIV.
.w .^ -^ ■•4 MBM
W« mU < >• >a< iU> for th«
'Bt "tt/ "iJS^ ■'•S^ 1^
mTJM «lm« •.mom Msvnu aits^Mt
4tX ni.in »*.vi»
»\Vm wj}^ jmTu-j jjj^.u
tii«'f
LIM.aM
4*.l«l.<1i
tK.8:a.»M
TW
«WM» Mppir or KTmln. eomprWns the stook* in
f M th» pnncljMl poinU of
•ooumuUtion at Uka ftud
MfoUo«r«
Mrd ipgtU, Jm. 3. \9»i, «M M rouowa:
*MM IM.«M
•noM
• MM**
UMM
4.M*
M,Me t77.aoa
50M
M.* M.eii«
l.«•^oo>. 111.000
tr.oSc
MLM* fiT.OO"
t MM ••.<•■< MO
t.|.«».'«tj«i.ao
«.UM.TUM;DM
•UM
'«&•»
'vim
M.OM
UM
mm
•ioio
lOft.000
14.060
am
«.00l>
in.v<*
nmB
Ui.«W
t.ooo
4«ro9
MMO
... ..
lOO.tMV
L^g
iSMO*
M.004
mLooo
«i.oi>-
«».000
•gjg
iM.Mi
ItJMO
i.(U.oae
i.Mi.oa«
MO.OO*
ti.on*
-.n.oo*
»:.*M
50 O*
»W,000
M,e>«
.:.".;;;
.. ..
_^.._^.
"
l«iM«>>*
lt.ljMl.00*
t.a<T40*
tj'n.a'4
Wl»«M0
iai7«,io«
l.tOO.000
«.MJ»,>>'0
*»i:t»
«.» ir.ooB
IM*.C^
8.7V). O-l
14. •>«.<*•
Hit J IAN
u^.oao
t.^i.i»<>
•>M.«a»
lArtiooo
iJtjtm
*.IMI.0O0
THB DRY GOODS TRADE.
tfiw TOKK. FftiDAT, P. U., Jan. 8, 1897.
lioo ia pnnt cloths and the several prjjeots under
1 bjr etoli mtaattotarert htva dratra the atten
tioB of Um gMMnI oottoo goodt trado largely tiwirii Cham
dnioc th) paat week. Toe stosk o( olothi is very mugh ia
•xsMa of what any prarloui year has opsaed iritb, the mil h
M« nuiolng ap to normal prolactioa, the demand is sluj{<i3h,
) are no iodieatiooa of improvement. To rrli«re tho
I it has b.-«n propaeed to sell in England contracts for
IJMyMW piMaa or aof*. or, failinr th%t, "pool" sim^ l.-
SN.OW pirow. peg the prioe of theee at 2 ^c. for rcKuUrs and
odda oa th«t baab, and run the mills two-thirds time only.
TIm market is aosiiutly awaida^ tht ouxsm* of th-in
• fforta to solve the ditflculty which FaII River
■rata themaelvea have been instrumental ia
Msaawhile boainaaa here haa again been on a
acaie in all departments, and so far the year ha« di^-
Do'hnf of an enoourafing character. The tone
tkranghoat the oottoa good* divisiaa is dacid*dly dull and
IIm Iwdaaoy of ptioo* ia moat direotioos in favor of buyers.
Wooioa gooda also have ruled dull generally with uaexpioMl
w i a kn eaa ia M3M quarters. Cjlleotioni are fiirly regular
aad the an a a d al tnmMee in the Weet and Northwest do not
appear to have affroted tbom.
OoTTOii Ooona— The ezporta of cotton geodii
Mta port for the w«>ek ending Jan. 4 were 6,03A
_ valued at rt3l.'<87, their deeHnallon being to the
potalB apeeiOsd la the taolee below:
VawToaa to i&ra&ar 4.
IM7.
ViMk.
MnM/vn.1.
«
4
lae
IM
......
"i*
IM
II
It
•ti
ati
46
«e
te«
t«4
».9iH
>.80«
a*
M
iNe.
•.wo
fatal
S.nia
S.OM>
'"mm ' "" i.ose"
nam *ew BaHaag «U1 aetata Mreet.
Ito »*la» «f ih- tow York etports for »he
boOB mi.^AT 10 1>«7 sicsirst |t3S 07t in \>i96.
>•!
year to dat* b*s
•r« ra%kinic n I sp>cialrffort« to mov't brown ahe-t-
ordnll*. but Willi • •lu«Uh hum* drmuid prioM a'r
ragfaad favor buyers la moit weiKh>'i, ab mt the only ex-
orptfoo to this beiai{ teadintc pxoir; t(<'^M ii hftvy-walght
goods, which are will ii)ld and II r n Ta'>r« i< lull) demand
for either brown ducks or UiiaburKi and prioai are irregu-
lar. Bleached cottons 0)ntiiU4 iasotive thr>u<h>ut, only
small lots bsiog in requeet. Tha market ii "a^y «ad irregular,
hut bevood an iocidantal redustii)! of [-^s. ptr yard in one
i'4 make priors are anobanged. Print cli>th y tro, bl«aohed,
are alow of sals and irregular. There Is little doing in wide
sheeting* or oott >n fltnn<>ls or blaokeia, aid priae* are with-
out ciiang<*. Sairs of denims are smtii and the markat
I* an easy one to buy In and other coarse colored oottons are in-
aotiva and featurelees. Wnite Koodt, q'lilti, etc., are slow.
Kid-flalshed cambrics inactive and eisy. F«aoy calic>>«s have
been in quiet demand but pric* are steady. Speoialtieg sell
moderately. Regular prints dull, with an easier tendency.
Staple ginghams quietly steady. Dress strles slow. Print
cloths inactive; no isles r'pirted of regultra this week; nom-
inal pricd 'J^c. O Id4 in ligac r^qiesc aid irregular,
IS»7 lS9e. ISiiB. 1894.
ttoeKof Frinl Oloiht— Jan. '2 Jan. 4. /an. S. /an. S.
at Prorlclnoc(<,e4 ifiuMM. 4'i7.0UO ISH.OOO 4o,000 147.0OO
atPall Klrer,S4 nqaaras.. 8S1.000 1»7,000 78.000 142.0'
4trallBlrer,o<ld •IMS.... 8D0.0OO 157,000 80,000 37,000
total stoeklPloeesl.... 3.108,000 490.000 301,000 826,0
VfooLxn QoiDS.— The market for all desorip'.iona of menV
wear fabrioa has ruled dull throui^hout tbe week. The
weather haa bean against biniaess anl there h%s beea no new
iofluencetocoaateract iceetr-ct. R«orderjfor li<h'.- wights
aresmtll and show that wholesale clothiers have noc been mak-
ing much headwav with their sales of spring girments to the
retailers, and under such cooditioos n) materUI expiosioa in
business cin be looked for in new heavy- weights, even though
the businees is now several weeks bebiad an ordinary season.
Slow protreia is baia< mide in opeaiag new lines of
heavy-weighta, and the situation his b^en diitu'b^l by the
unexpect-d reduction of 5 to 10 pjr cent in th) quotations of
a leading line of Clay worsteds. Some low pric^is have als o
been made on new overcoatings, and the meo's-wear market
generally app 'ars to have lost all promise nf better prices
than lasts >ason. Cloakiags are slow. Flana<'l'< and blankeu
dull and uacbang^. Ctrp^tj occasionally 3^c. per yard
higher for tipestries. Drees goodj quiet throughout and
irregular in low grades.
Foreign Dry Ooods.— New business for spring has been
on a limired scdle in all divisions of the market, but import-
ations are co-ning to hind on early orders. In dress goods,
■■ilk fabrics and lioens a generally steady market is reoorted.
Laues, hosiery and underwear and man's- wear woolen and
worsted Koods irregular. Seasonable basiness light and
featureless.
Impurtalloas and Warehoase WItbdrawaU of Dry Ooods
Theimp<)rtation8 and warehouse withdrawals of dry goode
At this port for the week ending January 7, 1897, and since
January I, 1897, and for the corresponding periodv of lai t
year are an follows:
— M
vxuu
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..la.uu.'
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Januabt 9 l!S»7.]
THE CU RON J CLE.
93
STATt AMP City pEfAyrM^WT.
TERMS OF SUBSCRIPTION.
The Istestoks' Supplement will be furnished
vnthout extra charge to erery annual subscriber of the
OOMMKBOIAL AND FlNASTCIAL CHKONICLE.
The State and City Supplement will also be fur-
Dished vnthout extra charge to every subscriber of the
Chkoniclb.
The Stbeet Railway Supplement will likewise
be furnished without extra charge to every subscriber
of the Ghbonicle.
The Quotation Supplement, issued monthly, will
aUo be furnished without extra charge to every sub-
■criber of the Chronicle.
TERMS for the Ghbonicle with the four Supple-
ments above named are Ten Dollars within the United
States and Twelve Dollars i i Europe, which in both
cases Includes postage.
Terms of Adrertlslngr— (Per Ivcli fipace.)
One time .._.... „..^ S3 50 l Tbr Moatlis (13 times). .$25 DC
OneMontli (i times).. 11 00 Six ontlis (26 times).. 43 DC
IwoMontba (8 times).. 18 00 I rwelve Uoatli8(S2 times).. S8 DC
iTlie above terms for one montb mad apward are tor standlnK cards.
Tke purpose of this State and City Department
is to f omisb our subecriben with a weekly addition to and
oontinu itioD of the Stats and Cttt Sufplekent. In otbei
words, n^ith the new facts we (>haU give, tne ampIificationH
and cjrrectioiu we shall publish, and the municipal laws we
•hall analyze in the " State and City Department," we expect
to bring down weekly the information contained in the
State and City Scpplexbnt to as near the current date as
possible. Hence every Subscriber will at all times possess a
complete and fresh cyclopaedia of iaformatioa respectinit
Municipal Debts.
RhVJEW OF MOMUH'AL BOND HALES IN
DECEMBER AND FOR THE LAST
FOUR TEARS.
Our record of muDicipal bond saUs sbows that the
total of these securities marketed daring the month of
December Wds over 10.} million dollars. This amount
contrasts with about 8^ millions iu December 1893,
13^ millions ia Dscember 1394 and 17^ millioos
in 1893.
Compared with the 35 millions of bonds sold in
November 1896, the sales for the lite month may ap-
pear small, but it will be remembered that the restora-
tion of credit which took place early in November pro
duced a market for all classes of good bonds and an
outpouring of the new loins, which for four months
had be«n practically unsalable, on a scale never before
witnessed. Birring November as altogether excep-
tional, only two months, ^Iiy and Jane, have totaU
at all in excess of Ddcembtr, and only one of these
(June) ezieedj that of Dacember by as much as two
million dollars. Of the aggregate sales for tbe ye»r,
over 42 per cent occurred in the last two months of
the year, indicating how powerfully our municipalities
were affected by the distrost which accompanied
the campaign for free silvtr.
Among the noteworthy sales in December 1896 was
that of »800,000 of Htrtford 3^ per cents of 1932 at
103'219, to refund a portion of the $1,000,000 Cipitol
6 per cent bonds due Jan. 1 1897, these la^t consti-
tuting a third of the city's entire funded debt. O^her
large sales are : Qaeens County, N. Y., 4j of 1916,
♦270,000 at 107-125 ; New Bedfords 4j of 1927 for
#400,000 at 108-867 ; Buffalo Hi of 1901, 1527,765 at
100-815 ; BDston 3ii and 43 of 1907-1917, $1,890,000
at 102-8277 ; Brooklyn 3is of 1936, $700,000 at 102-47.
In the following table we give the prices which were
paid for Ddcember loans to the amount of $8,937,875,
issued by no less than 88 municipalities. The aggre-
gate of sales for which no price was reported Is $1,696,-
212 and the total sales for the month $10,634,087. In
the case of each loan reference is made to the page of
the Chroxicle where a full account of the sale is
given.
December Bono Sales.
Page.
49
1126.
1029.
1029.
1029
1029.
1029.
1029.
1171.
1082.
1030.
49.
1126.
1126.
49.
49.
49.
1126.
1171.
1126.
1082
1032.
49
1126
49
1030
49
49
1082
1171
1171
1126
49
1126
1030
1083
1083
1083
1127.
1083
50
50
50
172
127
127
083
172
IV7
127
127
127
127
083
031
127
031
127
083
U83
50
51
1!«7
172
127
127
0S3
172
51
083
083
51
127
083
127
51
OSS
083
172
083
128
ViS
0S3
083
083
52
52
128
031
172
084
08 1
081
128
084
128
52
52
Location. Rate,
AUeutovQ, Pa 4
Anaheim, Cal 6
Aaoe Arundel Co., Md. 5
Anne Arundel Co. , Md. .'>
AnueAriinrtelCo., Md. h
Ann© Arun(lel(?o.,Md. 5
Anne Ariinilelc;o.,Md. 5
Anne Aritudel Co,,Md. 5
Arliu^on. Mass
Asbury Park, N.J 5
Atlanta,Oa 4
Molarity.
1901-1926
1897-1936
1901-1926
1901-1926
1901-1926
19"1-1926
1901-1926
1901-1926
1936
1926
1926
Boston, Mass 3>«-4 1917-1907
Bradford I o.. Pa 4
Brattleboro. Vt 4
Brockton, Mass 4
BrooktOD, Mass 4
Brooklyn, N. Y Z^
Buffalo, ,y.Y 3i«
Burrillville, B. 1 4
ButteCo.,Ual 5
Castleton Union Free
Scliool Digt.,N.Y.... 5
Central Kails, R. 1 4
Chippewa Co.. Wis 5
Clarke Co.. Wash 6
Cleveland, Ohio 4
.Colioes, N. Y 4
Collex-e Hill. QUO 6
Columbus, Cia 4'9
Columbus. Ohio 4I1
.Dunkirk. N.Y 4
.East Liverpool, Ohio.. 6
.Kvanaton, Olilo 6
FarKo, N. Dak 6
Olencoe. Mliin 6
.(ireenburK, OUlo 8
Hauiiltou (3o., Ohio... 4
ilnniilton Co.. Ohio... 4
Ilariild 8cb. DIst., Los
AuKeles Co.. Cal 7
Itarrialiiirg Sch. Dis-
trict, Pa 4
Hartford, Conn 3>»
Ilillsbiinuigb Bridge
Fire l)l»t., N. H 4
Ilolyokp, .Mass
Uolyoke, Mass 4
Ii>swU'h, MsHS 4
Knox Co., [nd 6
.LlKonla, Pa 5
Lisbon, Ohio 5
Lone Branch, N. J S
LiMiUvllli'. Ky 8
Maltlon, .Mass 4
Malileu, .Mass 4
Mancliealer, N. H 4
Medfnrd, Mass 4
Melrose. Mass 4
..Middlesex (3o., Mass.. 4
.Miller's Falls, Max.... 4
.Milstadt, 111 4
.Moorh»*ad, Minn 6
Moundsville, W. V»... 6
.Moundnvllle. W. Va... 6
Nashua, N. H 4
Natlck,Mas8 4
Newark, Del 4
New Bedford, Mass... 4
New Brunswick, N.J. . 4>i
New Brunswick, N.J. . 4
Newton, Masi* 4
.Newton. .Mass 4
Newtown Union Free
Sch.Di^t.No. 14,N.Y. 4>s
Niagara Falls, N.Y... 4
Niagara Fulls, N. Y... 5
Norwood, Ohio 5
.Olean Union Free Soh.
DIst. No. 1, N. Y 4
Oxford Union Free Soh.
Dlst. No. 1, N. Y 4
Palaesville, Ohio 5
Phelps. N.Y 4
Plainfleld, Conn 4
.Pomerov, Ohio 6
Port Huron, Mich 4
Portsmouth, N. H 5
Pueblo, Col 5
Pueblo, Col 5
.tiueens Co.,N. Y 4
Queensbury Uo. Free
Sch. Dlst. No. 1, N.Y. 5
.Rockvlllo, Md 4
.Home, N.Y 4
Scarsdalo, N. Y 8
Scioto Co.. Ohio... 8
Hkaneateles, N. Y 4
Stonehani, Mass 4
SummitCu ,Ohlo 5
Syracuse, N. Y
Tarrytown, N. Y 4
.Troy,N. Y 8
West Hoboken, N. J
.Windham, Conn 4
.Wise Co., Va 6
-Worcester, Mass 4
1902-1907
1902-1907
1898-1907
1898-1905
Jan. 1, 1936
Dec. 1, 1901
1907-1922
1911
1922
1897-1921
1901
1916
Oct. 1, 1926
1897-1906
Jan. 1. 1927
1906
1916
1900-1902
Dec. 4, 1906
1916
Jan. 1, 1917
1906-1926
1916
1916
1906-1916
Jan. 1, 1917
Jan. 1, 1922
Jan. 1,1917
Mar.. 1897
Jan. 1. 1027
1926
1807-1006
1926
""ini"
IWJ
1906
J«n.""i","i9I7
1922
1916
1901-1930
Deo. 1, 1936
1897-1906
1916
1901
1901
1916
July 15, 1926
1906-1926
Jan. 1, 1927
Nov. 1, 1921
Nov. 1, 1921
1916
Deo. 1, 1936
1899-1912
1916-1917
1897-1904
Sept. 1,1906
1904-1915
1898-1 90S
1897-1926
1916
May 1, 1901
1916
1922-1927
Dec 1, 1926
1,1912
1,1912
1,1916
A-mount.
$36,500
13,000
2,000
2,000
2,000
2,000
2,000
2,000
50,000
48,000
74,000
1,890,000
150,000
50,000
20,000
8,000
700,000
527.765
50,000
38,000
75,000
25",000
12,500
110.000 ■
200,000
15,000
3,212
60,000
27,500
100,000
6,000
2.038
40.000
25,000
50,000
25,000
79,500
Jan.
Jan.
Nov.
1899-1906
Jan. 1, 1917
1898-1900
1902-1925
1898-1902
1916
1917
1901
Deo. 15, ISOO
June 1, 1926
Jan.
Apr.
1. 1902
1, 1925
Award,
101-50
10014
112-25
11025
108-25
106-25
101-50
102-50
108
103-75
100-625
102-8277
102-146
103-93
101-38
10107
102-47
100-815
10339
101-506
108-
102-3-36
102-10
•100
210,450
10053
lOl^.-S
100-
101036
101-625
104-80
104
101
106-188
103
103 02
101
3,500 100 57!
60.000
800,000
45,000
50,000
250 000
6,000
70,000
13.500
22,000
10,000
127,000
15.000
44,000
100,000
26,000
80,000
170,000
20,000
5,000
40,000
2,500
2,500
'.55,000
17,000
37,000
400,000
68,000
10,760
80,000
100,000
7,000
5,500
8,000
2,000
103-50
103-219
100-269
196-881
108-32
108-875
100-10
101-037
103-027
100-50
103 125
10V81
101-389
106-248
106 838
105385
106139
104-48
\oo-a
10 .-10
101-125
101
106 07
106-43
100
108-857
105-18
100
106-675
110 07
103-297
10310
103 13
103
47,000 101067
1936
20 000
150,000
28,000
5,000
6,000
25,000
30.000
47,500
22,500
270,000
16.000
20,000
12,600
23,000
50,000
2,000
12,000
20,000
320,000
130,000
6,000
30,000
105,000
30,000
100,000
10103
10616
101-78
100-51
108-75
100
101tol03
95
00
107-125
105-45
101125
100-63
110-625
102 06
100
105-417
102-1676
100-559
105-55
103-27
103-17
105-09
190
113177
Total (88 munloipalitles) 98,937,879
AKgregate of sales for which no price has
been reported 1,696,212
Total sales for December, 1896 910,634,087
* Esohanged for warrants, f 3>8 p. 0. disooant and 93 premium.
•4
THB CJHKONICLR
fVoL. LXIV.
At>i>moa*t- MoTBMBUi Boicii Rals*.
wilt nak* the toul
••1m
Thwt wi«iiU«o»l loAoa
nporUd in Xof«mbcr foot op 134.913,894.
0«r u»»l ••!« for Dnwrnber eo»bU m to complete
tk* noocd for Iho jow 1696. which ihowi a grand toUl
of •10«.46ft.M0, »««iMl »114.(«1.633 in 1895. 1117,-
irT,n5 la 1W4. •77,421.273 ia 1893 and •^3,823.516
ta ISM. lo th« tUMinent below we giro the toUl
•aaieipal bond Mlee b? monthi daring the jear 189S
Ib OMBMtion with the corr*«pon4iog &iam for three
jmn previoae :
t..T»i. ainnctrAL boiim »Atm »r aoimi*.
IM«.
•«.ao7.791
4.M3.SM
4.«ie.OS7
4ASi.aso
MIS.4M
4,Ot».50O
I0.lt34.0e7
lees.
eio.ss3.ioi
ft,77e.4M
4.»IA.SM
8,400.404
1I,M7.7«6
1A,(M>7.44I
15.374.(MU
8.404.431
11,433.318
8,007.013
8.S34,«01
8.M5,804
1804.
•7.073.367
11.066.133
S,OM,43t
11,500,303
14.340,410
16.35H.S77
H,2%;»,237
7.52ft.a«0
8,310.S47
8.68S.43n
4.a40.a80
13,486,374
1893.
•9.43g.&77
a.071.HO0
6.0et.346
0,175,788
4,003.960
1, «««,";«.■»
l.ll!tl,HiH>
2,734.714
11.83«,373
7,31K>.':70
17,306.561
Mate •106.465.06091 14,031,633 91 17.167.335 •77.431 .273
K*«<l Hropoealt and Xe»otlallon«.— We baTe r-
eatMid thfoa«b the we«k the (ollowing notice* of bondi
imtotUtfiil and (xkkIk offered aad to be offered tor
Allrtheai. Pa.— Bond Sa/«.— On Jan. 5, 1897, the follow-
Isg btda «Mer«cviv*d for tbe MOO.OOO of water bonds offered
bj ibi* eiiy.
». MarrlMa Cn Tork
iM. Ilaka
WikM « (■>•.. Mw Tark....
1 Vaitosal Bank. Pl<l»bnrf
Mi^a*. I>«l<a ''o. Oiaaco
■•« Tor* Mraarlijr « TraM Cn
•■••tht Bin*. Co . Cl**claBd. O..
W. Bant* A i>> . «.-hlea«o, '-
, lU.
103)« and InterMt
10S07 anil IntrrcKt
,... 103 53 and Int mrt
103-177 ar.d Inierrif
.103-59 and luMrMt
1">3 284 am lutfrest
., 103619 ai d Id »teat
102-^)25 aud luie-eat
, 103 and Inierrat
103-55 and lutfiwtt
108-SO and loterMt
> 108 18 and liitareat
lo5'78 and iDlereat
103-869 and luterest
Tbe bonds «ill
interest will be
■dvaid <'. Ja*** r*.
IMM W. ak"tll. foacbkaap*!*. N. T,
Wbaaa a Bcb>- • tB«»r. Haw York....
B.D •krn.ieaoo „....
Tarsi ra*0-., "•» Tnrk
E. L. Oar*Ua."aw York
Xttr loan waa awarded to Vermit.Te & Co.
be daifd I>cvinbrr 1. IMHt. Seoji-anrusl
payatia oa ibr Drat days of June and Decemher at tbe office
of tbe Oty Tr*a>urer. and ihe principal will mature an ful-
low* : 166.000, Dfcrmher I. IIMI ; 166,000, December 1. 1906 ;
tWLOOO. DM*iDb«r 1, 1911 ; t«6.000. D-Ksembrr 1, 1916 ; $6S,0OU,
Dwamber 1. 1991, and t66,000, December 1 . 1926.
4bb Arbor, aich. —Botwf .9al<.— It i« reported that 5 per
cent •' wvr bonds of tbis citT amoun inir to $10,800 have been
fnrei i^f^ by tbe Farmers A Macliaoioa' Bank at 100-23.
Atkraa, Okie.— Bond Bate.— Oa January 4. 1897, $4,800 of
■iMaC taproTameot t>onds of this clly were awarded to J. D.
Browo. of Albans, for 14.936 89. Otber bids recti ved for (be
kiiB were aa follows:
& Koba * Rooa, Cinoinnad. $4,980.
Laosorecbt Broa. Co.. CleTeland. $4.9{S.
SeaaoBrood A Umjvr, Cincinnaii, $4,918 70,
D. H. Voore, Aibesa, $i.900.
W. J. Hayea ft Sob*. Cleveland, $4 841.
The aeratittoe will bear interest at the rate of 6 per cent and
Ike prladpal will maiore in ten years from date of issue.
BaraeaTtlle. Uble.— Bond O/rrinff.-PropnMls will be re-
«atve4 BBttl 19 o'clock nooa Janoary K. 1897. by Village
Olilk B. B Demrni, for tlie parobtae of $13.t)30 of 6 pprcunt
8laiB( isp'overornt tx>ndr. Tbe securities will ti<> ilnted Ja- u-
alt, 11^, interest will be payable aemi-aonually at the
a of ibe Village Treasurer, and the principal will mature
ae foltnw*: tv»i. January 11, 1891: $500, Janutry 11, 1899 ;
|M0, Jaonary II, 1900, ani the reroaininK $19,000 at the rate
flf ll.UO'^ rmeh year ibaraafter. Th* bonds are special assess-
■«! boada. Eaoh bM most be accompanied by a certiQed
oheek for iba estB of fSOO,
Tha tmal bomied ind'btedneaa of Bu-nesville is $12,436 49 ;
1h» SoBtlDg debt ia $1,S00, and tbe assess e d Tsluatiun tl.OUS,-
IM. Tka pxpiilaiioo U 1890 waa 8,907 and at preaent it is
' at S.MOO.
■ a*a — Vayor** Addreu. — la bis recent annual
Bdd r rae Mayor Q<iincy mak>a tbe fulluwiog statements re-
gardlBg tbe fl >aMclal rundiiioi of B «ioa.
"Tbe Kro>a d>>lit of the rltr and oouniy aoiouoted Deo. 31.
ttM. In ihr sum of $69.4*^ 810 48, against a gross d»bt of
|M 6 t.Mt <7 on Dec. 81, IHVS.abowlng an inoreaae of |l,967.-
4M7I dari'i ihe year.
"Tbeiclal amnonl of debt ianned. both inside and rntnide
•f tbed«bl lioill. durinicihey.<ar. wsa $7,321,000; but fiii(l.-d
pitd dorinii tba year to the amount of ta,868,S40 29,
making th« lacreaee ia tbe groas debt during tne year $4,987,-
459 71
"Tha net debt D'«ember81. 1896. waa $«.737.73l 47, axainat
$S9.4<IS,089 3) on Dwsembfr SI. t8!lS showing an increase,
aoconoted for aa beiow auted. of $4 262 681 92.
"The difference between tbe iocreaee in tbe gross debt and
that in the net debt shows 'hat tn» sinking and oth^rr-lemp-
tioo funds haye increaaed $704,777 79 during the year."
Batler. Pa— Bond Election.— Ka el«ction will he held in
the apring to vote on the proposition to issue $30,000 of bo.nda
for paring and other purpoees.
raldwell Co., Kj—Bond Call.—K. B. Ratliff, Treasurer of
tbe sinking fund, annouooes that 6 per coot bonds of this
coun'y, dat«d March 1. 1882, lo the amount of $22,000 are to
be redeemed at the Treasurer's oflSce in Prino^ton. Ky., on
March 1, 1897. The numbers of the bonds called are as fol-
lows: One thousand dollar bonds, nunabers 72, 1H7. «"). 125.
1, 191, 176, 175. 186. R2, 145, 123. 189. 78. 118. 144. 138. 68 and
187 : five hundred dollar bonds, numbers 44, 37. 30, 8, 13
and 80. lotereat on these bonds will ceaaa on the 8bov<s date.
CaatoB, Ohio— Bond* Defeated.— On D-Msember 18, 1996.
theciiiz-ns of Caoioo voted agaiaat tbe propoaition to issue
$70,000 of sewer bonds.
ClBclaaatl. 0.— Bond O/rrtiHr.— Propoials will be received
unlit 13 o'clock noon Jan. 23, 1897. at tht» <.fflce of D. W.
Brown, Citv Auditor, for th<« purchase of $ 8 373 60 of bonds
of the city of Ci cinnati The securities will be dat«'d Dec.
•JO. 1896. and will mature one-tenth yearly from D^'o. 30.
1H97. ~Io>er«n»i at the rale of 5 per Osnt will be payable seoai-
annuilly at the offloe of the City Treasurer. A oertiaed
check for 5 per cent of the amount bid for mu4t aoco npany
each proposal. The nrooeeds of this sale will be applied to
tbe improvement of Delta Avenue.
Clereland, Ohio — Bjnd ScUe.—lt. w rep-irted that the
$?A0,000 of 4 per c-nt csupon park bonds offt-r^d on Jan. 6,
1897, by th- city of Cleveland have been eoH to N. W. Harris
A Co., of Chicago, at a prfmiunn of $19.I0\ rtiene bonds
draw interest from July I, 1895 both principal and interest
being nayable at the Am*ricin Exchange Naiioaal B ink, in
New York City, interest payabl-f fcmi annually. Tne denom-
ination of the spouritiee is $1,000 and tbe principil will
mature April 1, 1927.
Bond Oj^crinjr. - Proposals will be received at the office of
City Auditor H. L R)8si er. Cleveland, O. until 13 o'clock
noon on Jan. 20. 1897, for the purchase of $250,000 4 per cent
city of Cleveland river and baroor coupon bonds, maturing
Oct. 1. 1926.
These bonds are dated OcN 1, 1896, both principal and in-
terest being p<iyable at the Americin Esohtng-t National
Bank, in New York City, interest payable B-iraiannuilly. A
certified cheok drawn on a oalional bank fur 5 p-'r cent of the
amount of bood-i bid for, and payable to tbe order of tbe
Treasurer of the Ci'y of CleveUod. must ace impioyeich bid.
All bonds are $1,000 denomination. No bids will be enter-
tained unless made on a blank form, which can be obtained
on application to the City Auditor, and bids for less thai par
and accrutd interest will not be considered.
CorAop-t'U. Pa.— Bond OJ'ertafif. — Popoiils will b"* re-
c<ived until 6 o'clock P H , Jan. 25, 1897, oy th» Finaaoe
Comraitte- of this borough, for the purchaw of $33,003 of
water bond^. The sccuriti>-s will be dated Jan. 1. 1896. and
will matuie in 80 year<i, redeem*bl<4 at tbe op'.ioa of the
borough after five years from date. Interest at the rate of
4J^ per cent will be payable 8>'tni-aanually and the bonds will
tw of the d--DorDina'ion of $500. A certified check for $350
must accompany each bid.
Comberland, Ud.-Bond Election.— City Clerk Waller B.
Clark reports that the proposition to is-iu-^ $ J ),000 of binds
for the purpose of erecting an electric-lii{ht pUnt will be
put to a vote of the p'opieon May 17. 18^7. The securities,
if authorized, will bear interest at tbe rate of 4 per cent.
Ueflanee, Ohio.— Bond Safe.— It is reported that this citv
ba«sold$30,otK) of refuadiog bonds at 103 4i67. Toe securi-
ties will bear interest at tbe rate of 5 per oei t, and mature in
from one to fifteen and a-half yeirs from dace of iseue.
Daboqoe. Iowa.— Bond Salt —The $360,000 of refunding
bonds ot tbis city have been disposed of at private sile. W.
L, Bradlry, of Dahuque. was awardi'd $l20,i'00 at psr and
Spilzer H Co., of loledo. Ohio. $240.u00 at a small pre-
mium. The s'-curities will bear interest at the rate of 4 per
cent, pajatile semi-annually, and the principal will mature on
the first days of January anl February, 19l7.
ElBlnor, Cal —Bond /ir/«c(ion.— Tbe qu(>«tlon of issuing
water- works bonds to the amount of t3),000 will aooa be
put to a vote of the people of this municipality.
Fall Hirer. Waaa.- Bond OJferinfif.— Prop'>sals will be re-
ceived until 10 o'clock ▲. M. Thursday, Jan. 14, 1892, by
Charles P. Brightman, City Treasurer, for thn purchase of
$7'5,0O0 of library bondi of the city of F*ll River. Tne securi-
ties will t>e registered bonds of the denominati >n nt $1,000 or
multiples of tills Slim, and will be dated J^in. I. 1897, becom-
ing due Jan 1, I9'J7. Interest at th? rate of 4 per cent will
he payable ne-ni-annually. Tneae bind'i will b^ secured by
sinking fund. A ceriiiied check for $2,000 oa a nttional
bank, payable to tha order of the city must accompiuy ea^U
bid.
Jajtoary 'J 1S»7.|
THF CHRONlCLh.
95
ealen, N. S.—Bond OJering.—PcoposaU will be receipt d
until 12 o'clock nooo, Siturday, Jaamry 16, 1897. by Charles
H Ford, Supervisor, for the Durobaso of $6 000 of triwn
bondB. The gecuritle* will be of the ddoomiaation of $500.
Interest at the raie of 6 per cent will be piyable annually on
April 1, at the Brings National Bank, Clyde, N. Y ., and the
principal will mature at the rate of J1,000 yearly oa April 1 ,
from 1899 to 1904 inclusive.
Gallia Conoty. Ohio. -Bond Offering.— Proooea.\B will be
received unil 3 o'clock P M., Fridiiy, January 15. 1897, at the
office of J. W. Jonep, County Auditor, Gallipolis, Onio, for
the purchase of $75,000 of Gallia County turnpike bonds.
The stcuiiiies will bear interest at the rate of 5 per cen',
payable semi annually at the office of the County Treasurer.
The bonds will be of the denomination of $i00, will be
dated January 15, 1897, and will mature aa follows : Januarv
15. 1905, $10,000 ; January 15, 1909,$10,000 ; January 15, 1911,
$10,000; January 15, )913, $5,000; January 15, 1914. $15,000 ;
January 15, I9i5, $10,000, and on January 15, 1916 $15,000.
A ceriitted check tor 5 per cent of the amount bid for, pa^ -
able to the order of H, W. R-sener, County Treasurer, must
accompany each proposal. Blank forms for the bids may be
obtained on application to the County Auditor.
Harrlgbarg, Pi. -Bond Election.— A.n election will soon
be held in this citv to vote on the proposition to i9-»ue bonds to
the amount of $20,000 for the purpose of ereoiiog a new city
hall.
Herkimer Connty. N. Y.— Bond Offering.— ProposaU will
be received until January 15, ia97, for the purchase of $31,-
000 of road bonds of this county. The eecuiitiea are to bear
initrest at the rale of 6 per cent.
Jamaica, N. 1.— Bonds Propo»«d.— Street-improvement
bondi* of this village to the amount of $150,000 are undir
consideration.
Looioville, Ky. — Bonds Authorized. -The General Council
of the city of Louisville has authorized the refunding of
$588,000 of 4 oer cent goli bonds. The new i>pcuritieg will bf
dated April 1. 1897, and maure April 1, 1987. The date of
sale has not yet Deen determined.
.Illddle Lonp Valley Irrlratinn IMst.. Sareent. Nfb —
Bond Q^ering. — Proposal* will be r-ceiv^d unii( 2 P. m..
January 19, 1897, for the purchase of bonds of this distriot t»
the amount of $100,000.
Moline, III. — Bo?id Sale.— It it reported thatstr^Mt im-
provement bond-i of this city to the amouit of $ 10,0V), be»r-
ingin ereat at 4J^ oer cent, and maturing in from 15 t'> 39
years from date of issue, have been puruhisad by th j First
National Bank at 108-91.
Morgantown, W. Va. — Bond EtAction. — Town Tr«w<uT«r F.
B Williams reports to thp CHRomcLE that on Jan. 7, 1897, an
election will be held in Morgantown to vote on the question
of issuing street-paving bonds to the amount of $15,000.
Mount Teruon, N. l.—Bond Sate.— The $30,000 of 5 per
cent aosoasment t>ond3 offered bv the Gomoi )o C luooil of
Mount Vernon on January 5 1897. have been awarded to
Daniel A. Moran & Co. at 104 80. Other bids received for the
loan were :
D«ltl. Denison & Prior 104 097
Wbaon A Srtilfssinirer 103-28
J. W. I..oni;street & Oo .102-758
8. A. Kean par and interest.
TheLtinpreobt Broa. Co 930,720
The ►ecurities will be dated Dec. 15, 1896. Interest will be
payable semi-annuilly at the office of the City Treasurer add
the prioci lal will mature Dec 15, 1902. The denomination
of the bonds will be $1,000, and they will be ready for de-
livery on or before Jan. 15, 1897.
New Haven, Conn.— Bond Sale. — On January 5, 1367, City
Auditor Benj. B. Brown received the following proposals for
the purchase of $350,C>00 of 4 per cent permanent paving
bnnHs and $65,000 of 4 pr cent bridge bonds of the City (d
New Haven :
Bidder. PavtmenU Brida*.
Parson. Leach dk Co., New York 10613 lou 09
B. L. I)»v & Co., Bn«ton In«-1R9 106'18>
O. H Whl'e&Co.. New Yoik lOfl-17 108-62
Lei". Hipgiison * Co., Boet«n 105 41 108 11
Hireet. Wvkes * Co.. New York 10\-35 107-97
N W. H<r>i9*Co., New York 105-08 107(5«
Cusliioaa, Kistier A Pbf Ilia, Boston lit7-93
BliidKPt. Mnrritt 4 Co.. Bon'on 108-80
H. C. W..rren & Co., New Haren 105'53
Both loans have been awarded tu Faraon, 1>ach & C*. The
pavement bonds will be dated October 1, 1896, and the princi-
NEW LOANS.
State of New York.
}
COMPTBOIXKR'S OrriCK.
BnacAr or Cik.v.*L ArPAias, .
Albany, December IWh. 189«. )
Pursuant to the proTisiuiu uf Chapter 70 of the
Laws of 1896, proix>salfl will b« reoelreil at tbu once
■ntll Tuesday, the 12tb day of January, IR97, at i -'
o'clock noon of that day fur a loan of
FOUR MILLION DOLLAR8
for wblcb trannferiible certificate* of stock, retft.t-
tered orconpon bouds at tbe opt tun of the prtipo*>er.
Principal and Interest Payable in Gold.
WUI b« tBsued In the name of tbe People of Ui«
8t«te of New York, on the credit of tbe HtnklDK
Fund establlflbed bjr said ad, bearlmt tntere»t at thf
raU oj three per cmtum per arvnu/n, payable semi-
annoallr on the first day* of Janoarrand Jaly. and
tbe principal relmbunwble un tbe first day of Jaua-
ary, 1913.
Proposal* may be for tbe whole or any part of the
loan not lens tnao $1,000. and should state whether
restatered or ooopon bonds are desired.
Payments for tbe loan will be required Ut be made
on the acoeptAOoe of tbe proposal by deposit In tne
bank of theManbsttanCo. lotheOty of New York
to tbe credit o: "Treasurer of the State of New York
on account mt OaruU Kond " of tbe amount of the
award, tosetber with pronlum and accrued Interest
from January 1. lB-t7.
The Comptroller reaerres the right to reject all
bids which are not In his opinion adrantaiteous to
the InCereaU »f the State.
lDt«rest on the loan will commence on tbe first day
•f January nesct, and will b« payable at tbe Bank of
tbe Manhattan Co. In the City of New York.
All propo«alf must be sealed and endorsed " T^an
for Canal Improvementa," and dlrect«d to tbe
Comptroller of tbe Staie of New York, Albany. N. Y.
JAMKS A. ROBERTS,
'Comptroller.
SIOO.OOO
Lackawanna Co.,
Pa.
4% Tax Free Bonds.
Daieal Dee. 1, 1>>9B. One Dec. 1. 190U.
City of Scrantoo Is tbe County Seat.
PRICK ON APPLICATION.
EDWD. C JONES CO..
a« CHBHT.NTT 8TRB8T,
piuLAsnj'uiA.
MO BROADWaV.
MBW TOKE.
NEW LOANS.
NEWBERRY, S. C,
6% Water and Electric*Light
Bonds.
Healed proposal* will be reoeived by Ibe Commis-
sioners of Public Works of tbe City of Newberry.
". C, until Monday, iHb 'iSth day of January, 181(7,
fur Six Per Ceot Water and Electrlc-I.lKbt Bunds to
the amount of Forty- two Thousand DolUirsindenoni.
Inallons of 9A0O each ; runnluit lorty year* frum date,
and Interest payable annually at the National C^ty
Bank uf New York. BundR bearlntf date of January
1st, 1997, and coupons payable on January 1st of
each succeeding year. Payment of purcbase money
to be made one half on February 1st, 1897, and otber
half April let, 1H1I7. The rlRht to reject any or all
bids rcserred by tbe Commissioners. Parties dealr-
InK to offer bids, or asfclnff lurtber Information, will
address JAMES HrlNTOSH,
B. C. JONSS.
J AS. K. OILDRR.
Cvmmlssluners of Publls Works,
Newberry. 8. C.
#is,ooo
ATHENS, ALA.,
Water-Works Bonds.
Matob's OmcE, \
Athcnh. Ala.. Dec. Mth. 1800. f
Tbe Leslslature recently autbortied the Mayor
and Council of Athens. Alabama, to Issue flf>,o<>0
of oommer<ial bunds, lawful m- ney, fcr the esiab-
Ushmeutnf watfr workN. 't be bonds arn lo be sold
at par In denomltiatiuns of not less than fl<>o nor
more than 9 ,0 o; nre to run not less tbwn ten nor
more than I htrty years, at tbe option of tbe bidder.
drawlnfE not over nix per cent Interest, payable semi
annually at this ortlce.
Soaled bids for these bonds. In whole or in p^rt. In
such denominations and runnlmt ssrb Itnio. witbln
tbft limits. MB (be bid<ler may pref*^r. win be received
at thin office till 1st day of February. IH.J7, when they
will be opened. The rtsht to accept or reject any or
all of such propositions is reserred.
THOH. C. MCCI..ELLAN,
Mayor.
MUNICIPAL BONDS.
E. C. STANWOOD Sb Co.,
BANKERS,
121 Devonshire Street.
BOSTON.
LIttTS SENT UPON APPLICATION.
NEW LOANS.
NEW YORK CITY
COLD BONDS.
Exempt From Taxation.
mati;rino leis to i9*J7.
rOB BAIiB BT
Vermilye & Co., Kahn, Loeb A Co.*
NaaMB & P1b« 8(a. Nm. !27-lt9 PUe Be
#rfo,ooo
Village of Proctor, Vt.,
4^ Water and Sewer Bonds.
PitocTuit, Vt., Jan 1, 188T.
In pursuanoe of tbe authority oonferred by an aol
of tbe General Assembly of Ibe ^tate of Vermont^
approved October 30tb. iwe, and In ao^ordanoe with
tLi- vole of the viiiaae uf Proctor Deo. >g, ISM,
blfls are Invited for the whole or any partof UM
above- nient'oiii'd loan.
Said loan will be Insued in bonds of It.OOOeaoh,
bearing Inierost at the rate uf 4^. puyable aemi.
annually in BoKton. Matts., or Proctiir. Vt.
A drciilar Kivlntf full infurniatlun will be maUa4
on application tu the Tn-aHun-r.
Proi'osaJs will be opened br the undersigned oa
the Z2fi day uf January. 4)7, at three u'clo<^ P, BC
Tbe rttfbt Is reserved to reject any and all propoula
or bids. WILLIAM Smith.
Treasurer,
Vlllaiie of E>ractor, vt.
W. N. Coler & Co.,
BANKERS.
MUNICIPAL BONDS.
34 NASSAU STREET.
96
IHK CHRONU'LK
fVou LXIV.
mi «riB — mrr in foor raual laauloiMiU oa Oototor 1. IVOl,
iSl. Itll u« »i«. ^ .
TW k(Mc» liniik win bfw lb* mom d«U »nd matura m
tpOo^n
Mte* teste ti
1. l«l« : IM.OOO on October 1,
itil ; taO.COu'aa Oouter 1, ltl(. lalcrttt oo both Icmd* will
toMfMUaraU^MtMllyMUMoOMO- tta* Oily Treuurar.
TWw kMte wM k» ootqMB boadt sad r«gi«t«r«<l witb the
PklUA*l >hl*. Pa.— Bond O/«r(ii0.— PropOMla will be re-
Mived enUt It o'ciock noon. Tu«m1*7, Jiin. 19, IW?. by
OteclMS. Warwick. MMorof tbecitjr, for tbe purrhMe of
|a.MO,MQ cf the lt.000,000 aerial loio, authoriz-xi M«rch IS,
ItM. m4 tor Ike |a,MO,000 Mflkl to»D •uth»riz9<1 Jao. 18.
iWt. Tke ilMMiMlnailnn of tiie aecumiM will be tlOO or
■a. TIm prooeed* of tbe | J.MO.OOO loan
llo4ef>af theexMomof aboluhtac Rrada oroM-
^m, mmt the fl.OOO.OUO will be applied to the widrninR of
oSwart Arenne and the tnprorement of the channel of
Iko Dataware Rtver.
Oa Ike boade ttrat mentioned aemi-annoal interest at a rate
■01 •BOrodioc 4 per cent will be pajable on tbe first days of
JoavHf aad July aad the prinoipal will mature at the rate
•CMMuNO yearly from Dw. SI. 1011. to Ueo. 81. 1918. in
otailea. Tbe aeoosd loan will t>ear Intereet at a rate nsc ex-
oeedlag SW per ovDt, pajable semi-annually on Jan. 1 and
JuIt 1, and tbe principil will be divided into twenty series of
llOo.OOO racb, payable one each year on Di«. 3t from 1903
to ItM irelualee. No bid will be oonaidered unless s'XMm-
I by a oartifled check for 9 per cnt of the amount bid,
aad all propoasia most be made upon blank forma, which may
bo oblateed npoa appUoatkHi at tbe ofllce of the Miyor.
Forlba $9,400,000 loaa, sottlament in full mutt be made
with the City Trsasarer oa or before M mday, Jan. IS. 1M7.
at U o'clock Doon. aad for the $9,000,000 issue od Monday,
Fab. 15. 1897, at tha same time : iotoreat on the bonds will b«
adjawad to tboae date*.
Ftaa roaaty, Arli.— Bond iVtiM.— It is reportrd that hold-
«i« at Pima County bonds have giren noiica U> tbe Loan
OaMBiasMO of Aristoa that unless tbe t-zohtoge of terri-
torial boads for ibe Pima Ckiuoty bonds, arranged for when
■t7 bood< were sold, i* made shortly, the Supreme
Court of the Territory will be applied to for a mandamus lo
oompel tbe exchange.
POBOroy, Ubio.— Bonds AutAorfsed.-^This city has aulhor-
iaed tbe i«euaaoe of refunding bonds to tbe amount of Ift.OOO
but tbe loan will not be offered for sale at preeeot.
Port HlbaoB, Mlu — Bondf Authorixed. —Clt;^ Clerk Tboi.
M. RaareporU to tbe Cbboniclc that theciii2!>n8 of Port
Oibeon bare TOted to issue water-works bonds to the amount
of 190,000. Tbe securities will bear interest at the rate of •
per oeot and mature in twenty-flTe years from date of isjua.
Tbe oity at pretent has ro indebtednees ( f any kind. Tbe
aasTMed Tsluktioo is $700,000 and the population (eHimated)
9.000.
Proctor, Tt— Boads O/ered. —Propoials will be received
untU 8 o'clock P. M. Jan. S2. 1897, by Wm. 8miih, Village
Treasurer, for the purchaae of $50,000 of water and sewer
boads of this Tillage. Interest at the rate of 4 p >r cent will
bo payable semiannually in Baston, Ifass., or Proctor, Vt.
The bonds will be of tbe denominUion of $1,000.
Tkt ojjlcial advertUement of this bond offering will be found
elaewhere in this department.
Reao, NfTsda.— Bonds iVoposed.— Water-work sbondi of
tbis city are undtr oooaideraiioo.
St. Albans Academy and »rad<^<1 !«^hoil District. Tt.—
Bond Sale.—Oa D -c. 80. 1898. t23,i)0J of ooupoa school
building t>ond4 of this distrion wern awarded toS<ymoor
Bros. & Co , of New York. Five bidi wer.* received. The
S'-curitirs will bear 4 per cent interest, and the priacioit will
mature at the rate of $1,000 yearlr. begianinit D tc. 8 I. H97.
Tiie bonds will be issued ia deoominatijni of $)')0 and $1,000.
Ht. Lawrence Connty, N. l.—New Bonds. — Bonds of tbis
county to the amount of $14,000 will be issued Feu. 1, 1897.
The securiiies will bear interest at the rate of 4 per oeot, pay-
able at tbe oiliiMJ of the fiouaty Treasurer.
Maadaskv. Olila.— Bond Sate — Oa January 6. 1897, City
Clerk A. W. Miller received sic bid^ for th^ piirotitfe of
$9,000 ot Spercon*- n'w-^e bind, of the city of Sinda«ky.
The bid* were as follown:
NEW LOANS.
■OTICB TO ROLDKKi* OP
WACO, TEX., BONDS.
Mode* m bwebrslTSB U« boidanof ibcaiTof
Wms auest laMO*WB«M OpUoaal Booda <Uteil
r t«U. lasi. itwioeilnMloe lUOOe. S* latwwt
ST rsen uttm Sai*. epMaaal sfln tea
ll.t.a.« S,«.T.«.S. lOarcMliM
1 s«»i«iil«ll«ia lo iba Warn
.WMD.TasH.
t aK fS wBI aM ks paM oa tb« abuTs-dcMrlbed
i^tafJiiairr iMh, lasr.
CCMOCULbOCH.
Mayor of Waco. Taaaa.
a W. JABLOMOWaKI.
oar
Investment Bonds
roR
New York Savings Banks
and Trustees.
Lurra BBitT cpon application
or B09T0!< AJTD NBW TOKK
rroCK BXCUANURt.
R. L. DAY 8l CO..
40 Wafr ocrvvt, Baalaa.
t Baaaas MiraM, Maw Varh.
INVESTMENTS
roR
New York Savings Banks.
«lir»« iamhrHgr. Maaa ....«a
a:jrrrM;;'a'ia?L-8'a...:.::::::;:;3:
A fan SaiWi Ol oa of aMkar of tbaaa laNaa. wiih
■k win ba aallatf '<•> applM-alion.
E. H. ROLLINS A SONS,
10 MILK HTBBKT.
« MAaa.
8AF2 INVESTMENTS.
aBND roH LiaT
City and County Bonds.
DIETZ, DENISON tz PRIOR,
S« VaBUBBMM ftTKBBT. . BOMTUH.
laa Maeavtar Otraat. Vlaralaaa. O.
NEW LOANS.
OITY OF PITTSBURO, PA.,
4 PER CENT BONDS.
WATER,
PARK,
BRIDGE.
DIE FHOM loot TO 19-^3.
BITUKK KEUIi^TEKKD UR COLPON.
Pries and Fartioolars on Applioation.
JAMES CAROTHERS,
806 FourthArenu^
PITTSBUItO, PA.
WE OFFER
S9l!^00,000
City of Holyoke, Mass.,
30-yEAR
4' GOLD WATER BONDS-
E. C. STANWOOD &. CO.
lUI Devaaahlrc 8treet. Uoaiau.
Cblraso Dralnase 4Ma
lira ll«lii<-a. In. (rtehaal) 4H»
.Muakegon, .Mich im
Haaib Uoiaba. Nebraska fa
Aahland. Wla. (Uold) 3a
Wrai Cblrngo Ml. RK. (Taanrli aa
Klral Morieasr.
rOR MAL.E H\
MASON, LEWIS A CO.,
BAHKBR8.
II niaia Ml.. 1*1 LaSaliaBl..
aOHTOM, CUICAUO.
James N. Brown & Co.,
BANK KIM
•■i Ca4ari«iraat, - - MBW YORK
MU.MCIl'AL. COUNTV, 8CIIOOI, AND
T(lWN«niP B()NI>9
BOUGHT AND SOLO.
NEW LOANS.
CITY OF
NEW YORK
3H PcR CENT
GOLD BONDS
DUB NOVKMBEK Ut. 191S.
I.VTBHEaT PAVABt.K JAN. lat AND JULT Im.
KxeculorR, Administratnrn. UuarUlalu iwd others
hohitiuc (ru8t funds are aathorlsed byanaotoftba
.N'ew York I.eKl«lature passed Blarcta IS, IBM, to IB-
T<>!it tn ttiese bonds,
PKICB AND PARTICULARS ON APPLICATION
Rudolph Kleybolte & Co.
BAMKKRM
CINCINNATI. O.
41 aad 43 Wall (street, Kew Tark.
V^HANN&SCHLESINGER
MUNICIPAL
BONOS.
* WAL.L. BTRKBT.
BBW YORK.
Mills & Blanchard,
BACKERS.
MUNICIPAL BONDS
BOUUMT AND tiOI.D.
DeTaaahlre Balldlns,
16 State Street, Boston, IHaM.
MORTGAGE LOANSJ
IN
TEXAS.
iBiareal 7 Per Cieol Net.
NO COtlMlSSloNS eharned borrowor or lends
until loans Iistv proven icood
FRilNCIS SxHITH A. CO.,
HAN ANTONIO, TBXA8.
Jaitoabt 9, 18»7.]
THE CHRONICLE.
97
Fonrlh Nntlooal Baok, Colombas, O. S9,00> oo
B. A. Briiz, C'bteaKO III. .. 9.057 00
Deliz, Dei bleoD & Prior, Cloveland, O M,075 00
feasoDirnod * Har^-T, Cinclnomi. O. 9,0SJI 25
Lanjprerbt Bros. Co , rieveUnrt, 9,<i91 5o
W. J. iJaies & 8on», ClereUnd, O 9,102 00
Tbe deDomioatioD of tbe bonds will be $530. Taey wili Lu
dated January 1, 18&7, interest will be payable semi-aDnually
at the office of the City Treasurer, and tbe principal will
mature in two, three and four years from date of issue at the
rate of $3,000 each ;ear.
San Jose, Cal. — Bonds Proposed, — This city proposes to
issue school' buildinK bonds to the amount of $85,000.
Solllran, 111. — Bond Election. — It is reported that on
January 12, 1897. the citizens of Sallivan will decide the ques-
tion of issuioK $25,000 of water-works bonds.
Wankesha, Wis.— Bond Safe— On Jan. 5, 1897, coupon
h >Dd« of this city amouaiin? 'o $13 nO^ were awarded to N.
W. Harris &Co,, at a premium of $3S3 and accrued interest.
We give below a lisc of the bids received :
W. W. Harris i r^o.. CbioiKO $15,383 00 aud Interest
FarnnD. L«>'Cb(t: Co., Cbloeo 18,338 75
Rurtolib KleybDite & C<i.,CinciDaatl 15,3-17 SO and Intereat
Tbe Lainpretbc Bros. Co., ';ieveland...u 1&.315 75 and iu'ere»t
W. J. H'ycg /t Sous, (Cleveland ..... 15,312 00 and Interest
fi. \. Seltz Cbicaito 15,250 no and iuirrpBt
SeasoDs od & Maver, Cinclaoatl. ......... ... t5,lr44 75 aud luterest
IJ, H. Wblte <t C ., Sew York 15,105 00
las W LoDEstreet ACo., BosCoa. 15,085 5 > and interest
8. A. Keao, Cbloigo 15,ovO OO and iotflrest
WankfBba NxtiooulBaDk. Wankeaba I't.OOOO and Intereat
National ExebaoKe B^tolc. Wankeaba 15.0(10 00 and luteresi
Wisconsin Trost Co., Milwaukee 15,n0()oo
Mason, Lewis A Co., Cbloago (for «14,000) .... 14,114 00 and Interest
The Btcuriiies will be of tbe denomination of $1,000, They
will be dated July 1, 1896, and interest at the rite of 5 per
cenc will be payable semi annually. Both principal and in-
terest will be payable at the office of the City Treasurer. The
first coupon, due Jan. 1, 1897, will be detached. Tne bonds
will mature at the rate of $1,000 yearly from July 1. 1897. to
July 1,1911. Toe bonded debt of the ci'y, iocludini; this
i£sue, is $45,000 ; assessed ▼alaation is $3,490,000, and the
population is estimated at 7,600.
Waterborj, Conn.— Bond Offering.— Yropoaaia will be re-
ceived until 8 o'clock P. M. Feb. 8, 1897, by Richard F, Grady,
ci y clerk, for the purchase of $35 000 of water bonds of
• he city of Waterbury. The securities will be dated
Jinuary 1, 1897, and will mature January 1, 1907. Interest
will be payaole semi-annually on January 1 and July 1,
and tbe denomination of the bonds will be $500 Bids may
be for 3Ji per cent or 4 per cent bonds. On Dicember 1,
1896, the bonded debt of tbis city amounted to SI 0l2 500.
and tbe sinking fund to $131,000, making a net bonded debt of
$878,500; on the same date tbe fl>atinsr debt amounted to
6141,702. The assessed valuation for 1898, real and pers3nal
property, was $10,700,000, and the true value was estimated
at $45,000.00 J. The population in 1890 was 38,646, and on
Dec, 1, 1896, was about 38.000.
Web.'ter Grove, Mo.— Bond £'/«c<ion.— It is reported that
electric-light bocds of this place to the amount of $30,000
have been proposed, and the question of ijsuing the same will
iioon be submitted to a vote ot the people,
Youogstuwo, Ohio.— Bond Safe.— It is reported that this
city lecently sold $25,000 of school bonds to Dietz, Djnison &
Prior. The securities bear interest at the rate of 6 per cent,
and will mature in from 6}^ to 7)4 years from date of issue.
Fayette Coauty, Tex.— Tbe following statement has been
corrected to December, 1896, by means of a special report to
the Chronicle from R. T. Bradsbaw, County Treasurer. The
.jail, court house and road and bridge bonds are all owned and
held by the Permine'nt School Fund of F lyetti^ county and
are non net^utiable.
Tbe county seat is La Grange.
LOANS— V/un Due.
Coc.Nxr Ja'l Bonds—
5k, Apr. 10. $15,000 Apr. 10, 1899
CoDKT Hue SK Bonds—
68. A pr. 10. $5,000 .. Apr. 10, 1 905
Eoad and Bkidge Bo.NDli—
5H,Apr. 10. $41,500. Apr. 10, 1902
58, Apr 10. lO.OOO.Apr. 10, 1904
Sa, Apr 10, 11.000. Apr. 10. 1906
BsrUNUiNo Bosui isa5.
61, AAO, $75,000 May 15, 1935
Subject to call after Msy 15. 1905
Interest pavuble in New York.
Total delit Deo., 1896.. . . $157,500
SInkinicrund 18,252
Net debt Dr«., 1896. . . 139,247
Tax valuutlou 189^ 8,308,000
As.sessmeiit ulioiit "a ai'tual value.
Htatc ii CD.tix (1>.$1,000)'9«.$3-NO
I'upulatlou in 1890 wa.s 31,481
Population In 1880 was .•27,996
Population, 1895 (est.). over. 40,000
All bonds except the $75,000 of refunding bonds are exempt from
taxation.
NEW LOANS.
JANUARY INVESTMENTS.
8taieorOhio4)ta.
( aantr of Kiii(a, N. Y., 4a.
Coanty of Qaeena. N. Y,. 4:
City ofNew Haven, Conn., 4*.
CitT •fHoniervllle, atau., 4a.
CJtjr of.Vewarh, N. J., 78.
Cliy of Pateraoa, >'. J., 4Ha,
<llT*f Milwaukee. Wl*.. S«.
Farson, Leach & Co.,
CHICAGO. KKW YOHK.
119 Oearkara Ml. .J Wall Mt.
Ll't Mailed Tpon .\ppllcaiioD.
NEW LOANS.
MUNICIPAL BONDS
OF
CHICAGO.
4%, 4-H% and 5?*
BOUGHT AKD SOLD.
Fail Fartlcniars an Appllcaiiaa.
N. W. HARRIS & CO.
IS WALL, HTRRBT. HKW VOKk.
'0 state St.. BOMOD.
Blodget, Merritt & Co.,
BANKERS,
16 Conoress Street, Boston.
STATE CITT A BAILBOAD BOMDh
WE OFFER
THZ FOLLOWUrO OILT-EOGE SECHBITIES
Rome W. & O^den. l8t M. 58. dae 19S2.
Chic. & West. Indiaoa 68, d> e 1921.
Lehigh Valley 43.^8, due 1910.
Lfbigh A N. Y. l8t 48, due 1943.
y. T. k Nenr England Ist 7g, dne 1905.
Lnnx Vork Oh. dne 1985.
N. ¥. Lack. A West. Ut «», doe I9S1.
.miwankte I,'. S. & Wist. 58. dn.- 1929
AIm the following gnaranteod Hallway Stoeki,
N. Y. Lack. A Wislern,
L'nited Railnay N. J..
Rensselaer A Sarato|r«.
Pills. MiKeesport A Yunghioi;heiij.
Prtcea and Pnrtiriiiar> FnmlBbod TTpon Application
C. H. WHITE & CO.,
ra BROADWAY. Knew yorh.
MISCELLANEOUS
CHfiONICLE VOLUMES.
SINCE 1866.
Any oaee pn MMali i i i ttaeaa Toinmea baa i. band
for conTenlaat nttmtat a complete and rellatl*
■oaadal bIMory of tbe p«no<L Paitiea bancjliei
■ora raeant Tolnmaa can obtain from tbo pnbiisber.
most of Um MTllar rolomaa. or oomplMa Mta can bg
faratabad.
APPLY TO
mXZ,LZAM B. DAXA COUrAXt,
»«V Pla* Mtr«M. Mew Tark.
W. J. Hayes & Sons,
BANKBBS,
DEALERS IN MUNICIPAL BONOS,
Btreet Railway Bonds, and other blsb-grade tn-
vestmenta.
Clereland, Obia,
311'313Hnperiar8t.
BOSTON, MASS.,
T Kxebance Place
CRIPPLE CREEK, COLO.,
the lead DK dold intnln« region in tbe C. 8.. with
oaany 8"U oaylnx mioea. producing Jl.oi'O.wio i er
montb; population I.I town.a),oi>0:7Sdlitrtct.«o.ooo
-la yet in lU infancy. Tbe big prollta come from de-
veloping mining claims and adTaooe In ralues. I
oSer undeTvloped claim, near nhipplngmlne8.$i" - O'.-
eaa Ictand oond at »ai>,' »• . FlTe-aUtba of stock in
oompany ownlntf 10 acres dioloe location. |^><>ii<>
eanboodat IrH.noo. *1.IMX) bars lease, now win,
ing, beart of district, with bond for datm at $4000 .
Half interest In claim si tuy, toiio procn es 1 atent
and gets ona third interest la anotber; buth fair loca-
tliint
Partly developed mine, s** Ipplng and parlnir has
ptvduced »-0.uut^prtce »lj«.> (i*: 9*.i\^a. na>
8. M. SMITH. P. O. Box liM.
Boom 1. Klrst Natlunal Bank Building.
Cripple Creek Colo.
OLD ROOK^ SEND STAMP
V,K,^_Py..V:.'>?,^ '»•• !■«•«. Address
A. J. Crawtard. 3 1 !* M. 7th Ht., Ht.L.aala.ilI«.
An Old Favorito With New Feature*.
THE LIVING AGE,
Foanded by E. I.lttell in 1844.
In 18B6 tbe subscription price of Tbe Liviko Asa
wblcb bad been Elgbt Dollars a year, was reduced to
Six Dollars. Tbe effect of tbls change was to add
bandreds of now names to the snbscrlptlon lists.
encouraged by tbls responito the publishers now
take pleasure In announcing several new features of
Interest which they propose to Introduce. These
Include
First, tbe publ' atlon of occaalonal trana-
lailons froin the French, German, Span-
iah and Icallaa revlewa and oiagazines.
Hecond, the addition ol a MoDthly Hnpple*
■sent containing three depariuienta.
aanelyi
Kaadingi From American Hagazinee.
Beadings From Kew Books.
A Lilt of Books of the Month.
Tbo proposed Supplement will add about tbree
hundred pages annually to tbe magazine, without
any added cost to tbe snbscrtbera
Published weekly at (d.oo a year.
3'"To New Mubacrlbera for the year 1V97,
remitting before January 1, the weekly numbers of
l)*9a Issued after Ibe receipt ot their subscriptions
wlU be sent GH ATIiS.
Address
THE LTVnrO AGE COMFANT,
P. O. Box 3-J0«. Uoston.
SECURE BANK VAULTS.
GENUINE
WKLDED CHROKE STEEL AND IRON
Bound and Flat Ban. nnd <Vp)r Plates and Anule
FOH SAKKS VaCLTS, V.
Cannot be Sawed. Cut or Dnllad, and positlyely
BurKlar Proof.
OHKOIHE Hi'KBlj WORKS,
Kent Ave., Kea p A Hooper Bt^.
BaleMaa-f ersmibaU. 8, BHOUlt.liVII.ll. I.
9»
THE CHKONrCLE.
[Vol. LXIV.
9«ti1ur9 and IBvoUcvb 1»nt of ^ew Uotrti.
PlTTtBURO.
Henry Sproul & Co.,
nT-niBVKV, PA.
MiMii nr !■■
■■w TOM «T«n nruAMa
patLADBJViA vroes bzcsamo^
ODOAau crocK uchamok,
^iiw*<«« MABB or tm*i»».
N. Holmes & Sons,
■ ANIlllH'.
riTTMBrmo, pbw%.
OOBBBUn>l«DBKT»
•■U <>< >••« Tork. X. ■. A.
or
riTT*aoii«t ■*«•
wmTAWUumwD imtl
Whitney & Stephenson,
BAintaiM AMD BROKBRS
II*. •« poimTR Avunvm.
It.T.
PHILADELPHIA.
STAHL & STRAUB,
INTB8TMBNT BANMER8,
Its SOUTH FIFTH STREET,
(PBKXKI. BriLDIRO).
PHILADELPHIA.
T. Mellon & Sons' Bank,
PITTKBIIKOH, PA.
OBBBSAl. BAMKIHO. OOLt.Ei;TIOIII>.
IRTBNTMBIITII
CHICAGO.
A. O. Slaughter & Co.,
BANBKBII AND BKOKKBH,
ll»-liy LA ttAI.I.E nTKBBT.
CHICAGO, ILLS.
Hiwtl Mew Tofk Mack ttmctoMf. CkloMO
MmA BnlMamHi4mcMnBa«r«ofTnda.
Jamieson & Co.,
tTOCK»-BO.\DS,
Itimtm N«« Tor* mat Otir— «i BUxA Kxchwiru.
IB? OBABBOKX BTKBKT
Cklcac*. III*.
fiiia M wira U> New Tack kad PtalladeJpiiU.
Loeb & Gatzert,
HORTeiGE BANKEB8.
IM LA WALVK irrBEKT, CHKAtiO.
flcM llorlcB««» for •*!• In tAf ««aa<l .QMil mdoudU,
~~" — ' ■ — I k. ktt aat « ■•r oMit. M««r«(l kj
»n«n liirlrn OtitrMii cUy yntptrtf.
I •a4 IkMraM P>TaM« Ib 0*M.
OOMUBTUMOBIICB flOUaTBO.
A O. Becker & Co.,
OOMMERCIAL PAPER
IM U Hallr NU. ( blewo. III.
CINCINNATI.
Sbasongood & Mayer,
B. W. C'ararr Tlllr4 *■< Walaai HiraMs.
C 111* IKfKATI, OHIO.
MUNICIPAL BONOS
HI»IMir»*»<'"l' ■ .■, I »r. ,r,.: •nl.iv- : ll..n.|.
' m < In ■••O'M ' ■!• ii.l... 1,1 M.. I ni.,n;
-"^UMMUt tMV«
Irwin, Liiis cc iiallmann,
bankers akd brokers.
Deal in Cincinnati Bonos.
B#w B*. BT Bm« rklr4 fN.,XlMlaaBi|.oii|««
Kdward B. Smith & Co.,
■ANEBRa AND BBOKBHA
BOORHR BOILDIIia.
PHILADELPHIA.
Miwkir Phil*. w1 Nnw Tork Slock Bzehun
W. O. HoPrkB. H. 8. HOPPkA*
ll«fflb«n of Phlladelplum Stock KzeliMura.
Wm. G. Hopper & Co.,
STOCK AND BOND BROKERS,
<H South Third Street, Philadelphia.
!<p«^«l •llcntlon KlTtm U> PHII.AnKLPIil*
HTOTKS »n<1 I\VK.<TMK1<T t<E<.'lIRITIB8. _
I". O. B«t VUK local iBlcphone IW.
EASTERN.
E. W. Clark & Co.,
BA>'KEKS ANI> BROKKKH.
No. 130 Sontta Fourth St.,
PHILADBIiPBIA.
Trmoaact a Kvnera) banktos busineiMi. Allow.
Inmwt on deooaltN.
MraitMn of tha PhlladHphIa and New Tork 8toak
Bzduniraa, and eonnected by prirata wlr» wlih
Mew Turk.
SOUTHERN.
J-P.AWDRE'MOTTTJ&OO..
Investment Bf^kers,
NORFOLK, VA.
SOUTHERN INVESTMENTS.
wiLUAM Wilson a Sorb, Bnabllsbed 1808,
Wiuox, Colston A Co., * " 18«7.
Wilson, Colston & Co.,
Membcm nt Baltttnore Slook Kxcbaiu:e,
BAKKKKM,
*41ll KbkI BKlllmore Htreet« BalKlniore,
iDTefttmrnt and Mtficcllaneoa» 8ccurltleti a epon-
laltf. aiid whiile irmues bandied.
KxcpplloMal faotllttes for d€MUlD|iB in all clasves of
rtoatborn HoodK. l<(»&nv on Collateral 8ocuiitle«
nwrotiatod.
John W. Dickey,
BROKEB.
AUGUSTA, GEORGIA.
BOVTHRRW SECURITIES.
Davenport & Co.,
BANKBB8 AND BBOKBR8,
RICHMOND, TlROIlViA.
UTABMilHID IKAO;
Oorreepondeocie MUoltad and tnformatlon for-
ntebed abmt aootheni State, Monlelpa) and Kail
rcwl iDTaataaot SacnrlUa*.
Befewnae hank of New Tork N, B. A.
C. W. Branch & Co.,
BANKKK.^ AND BROKBR8
HTATk Bank Uinu>iira,
RICHmOND, VA.
Pnvat* wtrea onnnecUiui with Wa«hln«t<in, Bait U
iii'<f«. Philadelphia, New Turk, Boaton and Chtoaiiu.
New York iVirrMiHindenU: Metara. Ladeobkra
rhaliDann A C*. and Lrhman Broa.
Richardson & Clark,
BAHKEBt*
36 Bxrkance Street,
PROVIDENCE, R. I.^
B lirOB. STOCKS AND LOOAI. BEODBITIBB.
S. D. Loring,
A3 STATE STREET, BOSTON.
DXALnn
High-Orade Investment Securitiai,
ST. LOUIS.
J. E. Crawford & Son.,
Bono and Stcx:k Brokers.
Street Railway Securities a Specialty.
30S FINE STREBT.
BT. I.OITIM, HO.
BnWARDg WBITAKXK.
CBABLkk HOOOMAN.
Whitaker & Hodgman,
BOND AND STOt^K BROKERS,
300 North Fourth Street,
ST. LOlJI*«.
MISCELLANEOUS.
Ladd & Tilton,
BANKKBM.
PORTLA!yP, OREGON.
BSTABLI BHBD IN 1858.
Tra.naaet a tSeneral Bankluc Baalaea..
OoLuccnoNS GrriN Special Attintion.
BANKS.
FIRST NATIONAL BANK
OF MILWAUKEE.
CAPITA!.,
BUBPLCB.
Si.ouo.ooo
B'ioo.uue
Tranaaot a General Banktnc and Foreiro Bzdianr*
Bnatnesa, Collectlona receive Special Attenuon.
OFFIOBRS
K. ». BioxLOW, Pres't. K. J. Kipp, Caahler.
WM. BlOkLOW. V.-Pres't. T. K. Camp, Aaa't Cashlai.
P. K. KatrkGiB, Ud Au't Cashier.
Fred. M. Smith,
TB BOOTH MTBBKT.
AVBVRN, NEW YORK.
Makes apMlaltr of Bank Moeka, Mnaletpal and
Water B(m«« sat r«r«<ik<k SdlettM laforaaile
San Francisco,
The First National Bank
OF SAN FRANCISCO, CAL.
UNITED STATSS DKP08ITABT.
CB»llal. B1.300.U00 I Hnrplaa, S930.BB0
a. a. MtmPHT. President, Jas-K-Ltnob, CasWsr
JABMMorrm, ▼.-Praa. j.R.MorrrTT,AiuOaBk
Osnaral Banklns nn.ineu. * iieonnu Solleltsd
Canal Bank,
NEW ORLEANS, LA.
(»incoe!nior of N. (>. Canal & Banking Cn.)
CAPITAL,, «l.nOO.IMM>.
J. C. MORRIS. I'r.'MclcnI. KDW AKIllHlBV. Vice-
Piwi. EIHiAR NdTT. Cashier.
CurrenpoiKlnnU— Naltoniil Clly Bfink, National
Rank <>r (Vmimerct. New York; Ilnainien'* Bank.
St. l.oul«; N. W. National Bank. Chlcaiio , Mer-
ohani!<' National Bank, BfMtnn.
^FECIAL PaZK QoVBK
—row-
f^BROSICLK J^VPPLJlMXirTIt
C.'nn be barf ni olDce for 63 ceata er
mailed for MO cents.
WILLIAM B. DANA COMPANY,
7»h I'lae I4ire«l, New York.
fliraitfrna
ftnannal
lw0nirk
Quotation Supplement (Montwy) Street Railway Supplement (puartei^
investors Supplement (QuarteHy) State and CiUj Supplement ^kmiB^
[Batered aooordlai; to A.ot of Coa^ress, ia the year 1S97, by the Wiluam B. DjlVA. OoKFAJtr, In the otfloe ot the Librarian of Oongr«af ,
VOL. 61.
SATURDAY, JANUARY 16, 1897.
NO. 1,647.
PUBLISHED WEEKLY.
Terms of Sabserlptlon— Payable in Adraace:
Forone Vear „.„ 910 00
PorSlzMontha „. 6 00
Earopean dubsorlpcionilnoludlng poataxe) 12 00
Baropean SabdorlptlouHlz Months (Ineludlnt; postal). 7 00
Annaal Aabsorlptlon in London (Inoladlng postage).... a 2 10a.
Biz Moi. do. do. do. ...ailOe.
Ihe larMTOBS' SOPPLbmsht will be tarnUbed leUhout extra charge
to erery annaal sabscrlber of the Coweboial aho PiXAXctAL
OasoinoLH.
The Stati and Citt BopPLCXBirr wlU also be tornlahed wUAoul
taira charge to erery anbserlber ot the CUBOKiCLa.
The 8TEBBT Bailwat 8dpple«e!«t will likewise be furnished tnith-
9ul extra charge to every sabsorlber of the Ohrosiclb.
The QcoTATtos ScpPLEMF.Mr, i8.iued innntbly, will also be farnlshed
without extra charge to every subscriber of tbe Cbbohicle.
PUe covers are sold at SO cents each; postage on the same Is IS
•enta. Pile cover for sapplemeats can be had at ofUoe for 6S cents or
mailed for 80 cents.
TerniB of AdTerttgia^— (Per Ineh apace).
Onetime „ f 3 SO I Three Months (lStlmei)..92S00
One Month (i times).. 1 1 00 Biz Months (M " ).. 43 00
TvoMonths (8 " ).. 18 00 1 Twelve Months (52 •' ).. S800
(The above terms tor one month and upward are tor standing cards.)
London Aicents:
Msssn. BDWABDS <k Smitb, I Drapers' Gardens, E. 0., wlUtakrsnh-
ssrlptlons and advertisements, and supply single oopleiot the paper
at la. eaoh.
W^ILLIAm B. DATtA OOnPANY, Pakllataera,
Pine Street, Corner of Pearl Street,
POIT OmOB BOX 958. NEW YORK.
OlMrinM ot-
New ToFA
Philadelphia. ...
Pittabam
Baltimore
Buffalo
Washlnxton
Roobester.
Brrsouae
Scran ton....
Wllmlncton......
Blngbamton
Total Middle..
Boaton
Providence.
Hartford
New Uaven
Sprinfffleld
Worcester.
Portland
Fall RiTer..
Lowell
New Bedford.
Total New Bog..
CLKARINQ HOUSE RETURNS.
The following; table, made up by telegraph, eto., indicates
that the total bank clearings of all the clearing liouses
of the United States for the week ending to-day, Januarv 16,
nave been $1,040,130,745. against J1,216,I89,7)J5 last week and
$1,063,013,591 the corresponding week of last year.
OLBaauraa.
Btmrm H Ttlttraph,
New xoTk*. ■■••.. ■.••■••.
aostoa ..........M ...M..
Philadelphia „ .
Battlmore ..... — ,,.
Ohloaco ............
81. Lous ........
New Orleaas .....^
Seven oltlae, B days .
Other cities, 5 day s
Total alleltles, 5 days.
A.U oltles. 1 day
Total all cities tor week.
Week AiMnf /omiary la.
1887.
#478.368,061
75,761.058
61.431, :»8
12,687.179
63.463.914
24.8S9.086
U.142.S80
t717,2l2.80'J
148,926.217
«868, 1.10,019
173,081,726
6l.040.120.74fi
1896.
t498.023,6ll
73,044.804
58,378,163
13,018,246
7S.66.3.888
21,912,8:10
10,146,583
•750.187,125
146.019.483
Cl.063.045.591
PtrOmt.
The full details of clearings for the week covered by the
above statement will be given next Saturday. We cannot,
o^ course, furnish them to-day, bank clearings being made
up by the various clearing houses at noon on Saturday, and
hence in the above the last twenty-four hours of the week
have to be in all cases estimated, as we go to press Friday night.
We present below our usual detailed figures for the pre-
vious week, covering the returns for the period ending with
Saturdavnoon, January 9, and the re-sultsforthe oorrespond-
in^ week in 1896, 1895 and 1894 are also given. Ck>ntrasted
with the preceding week, there is an increase in the aggre-
gate exchanges of two-hundred and seventy-four million
dollars. At Mew York alone the gain is one-hundred and
eighty-five millioos. In comparison with the week of 1806
the total for the whole country shows an increase of lO'O per
cent. Compared with the week of 1895 the current return.s
record a gain of 21 -9 per cent and the excess over 1894 is 34'S
per cent. Outside of New York the excess over 1896 is 2-7
per cent. The increase over 1896 reaches 7-9 per cent, and
making oomparlson with 1894 the gain is seen to be IT-.? per
oent.
Chicago
ClnelnnaCl
Detroit
Clereland
Mllwaakee
Colambns
Indianapolis
Peoria
Toledo
Grand Baplda
DartuD
Lezlnnton
Kalainasoo
Akron
Bay City
Rockford
SprlnKfleld, Ohio..
Canton .'...
Tot Mid. Weit'r.
Ban Francisco..
Salt Lake City..
Portland
Los Anseles....
Helena
Taooma
Seattle
Spokane
Fanto
Slooz Palls
Total Paoiae,,
Kansas City
MinneapoUa
Omaha.
Su Paal
Dearer
Davenport
St. Joseph
Dea Moines
Slooz City
Lincoln
Wichita ,
Topaka
Fremont
Hastlnin
Tot. other West
SULonlB
New Orleans
LouiaTtlle
Galveston
Ilouaton
SsTannab
Rlcbmond...
Mempbtt....
Atlanta
Dallas
Naahrllle
Norfolk.
Waco
Fort Worth
Aaifuats
Blrmlnztaam.
KnozTllle
Little Koek
lacksonvllle
Chattanooga.
Total Sooth em.
Total all
OaUlde N. York
Montreal
Toronto
Hallf.i;
Wlnnl^Ac
TTamllton
St.John*
Total Canada.
ITmIi mdins .Tanuarv 9
1897.
710.293.433
71.1911.489
1'.348,1U0
lt(,5t.s.8SS
i.4CM.9»d
2.1^6.402
l.St-,487
1,324,4»3
8i9,33«
734.614
4 4.100
1886
8I8,«14.0'B
til'.uTO.sBa
14,'-22,1«
14.«20.-t)8
&,2UI.45I
•■i.lllM'il
1,736.37V
1,201.66S
773,71?
T»t.4SS
«17.W)0
8!«.I33,S&0 724 711.U2II
83.011,125
5,4»2.B0
3,046.623
2,008 201
l,44V.2ai
1,S8%MU
l.43!l,43«
usi.frna
717.8Z9
JO'i.OS'j 830
104 867 547
.5.3M,0OU
«,48?.10f<
2 i.j.ies
I.ll8fl.7ll7
l,4|n,8uV
1,623.5114
1.001.246
eStf.91«
80E.106
134,171.831
82,631, 0'l
13,234 .KO
•,412 8)7
8,t>6ll,V«0
fi.!ie7.e4S
3.3M HnO
3.821.313
1.71».401
1.077,4113
883.8J1
874.177
4»8,>'81
280.3a(>
298.000
348,885
166.534
288,194
3«'7,901
127,434.69«
13.980 17!
l.bBO.SW
1.821 eo>
l.M9.3i -.
4 14 062
628,640
600183
844.070
I66.S7«
75.000
96,830, S82
13,6^3 i>o<.
8.973.836
8.086,5 4
6,004,3*8
3.6«l.;au
«.lt7.2J6
1,»44.(«0
i.6i6.oye
820.374
8S4,B0i
37W.43S
380.848
312,167
241.791
211,281
237.514
181,815
18X7.
P. Omt
31,378,508
9,800.000
6,846.012
4.3o2 826
3,«6«*,6aS
2.f0i.S(a
784,060
1,400.000
1,227.057
3f8.B7l
428.108
281,820
481.793
67 589
108,996
141,427,196
i%435.8i0
1.626,3S0
I 4S^,;58
1.375.5M
614,642
60S.U46
660.000
489,166
249,180
88 4:4
31.906.935
81,979.402
10.278.318
7,2/0.062
2,8d2.10<i
3.0.7,1.87
2C8H.481
3 800 000
8.108 86»
2.187.0i6
1,411,612
1. 490.1 2S
1,071.137
1.138.444
721,689
8l6,«7|i
410,8S<
633,301
891.621
29*.8ei'
820,81 S
20,207.918
18,000,000
T.Wl 1,806
4,886.740
4.311,882
3,103,873
2,166,63
1.894.001
1.872.887
682.177
402.184
«93.638
666.018
83.706
78.000
74.103,588
3U.844.218
26,888 025
11.088 536
6458.0;2
2,718742
2.831,020
2,I73,»?3
2.573.824
2,998.940
1,808.442
1.24t.4l8
1,918,367
1,173,943
773,701
800.611
478.803
483,029
868.068
318.849
288.858
98.711,387
1.30e.l89,78j 1.097,985.620
497.898,386 481,771,431
9.936.583
10.474.449
1,652 337
1,615,409
S47.i>86
689,372
21,326.840
12,782,18'
8.427 817
i.eio,o4i»
1.640.306
774,878
+ 15 7
.■30
+16 3
+2!.-6
-15-2
—17-6
*59
+10 2
+»>
-1-3
+3 9
+141
+192
.-1 9
+45 7
+40
+I6'0
+2-2
+1»'»
+6 2
-10 l-
+ 382
+18-2
-13 6
-21
-8
+4-0
+7-8
-84
+5-0
-ir6
+38
—4-1
-19 4
+31-8
-282
— 4-6
+3 3
-28-1
+180
+14-3
-9-9
+4-1.
+28 P
+9
-19
+17-5
+41
+7-2
+31-7
—US'
-19 7
+5-8
-18-4
-18^
-7'1
-84-4
-161
-71-3
—16-8
-30
-4i;6
-12-8
-31-1
+88 7
.119-8
+2r3
-6-9
+11-8
+9-7
+3-0
+191
+1-0
+7-8
+14-8
i-is-l
+136
-8-7
+15-8
-6 6
-60
-14-1
+15-1
+9-3
-9-6
+11-2
+111
+10
36.181.762
+S-7
-22-3
+24-8
-ro
+9-4
—82
106,888 898
92!P5,817
14 091.160
5,7 76.389
5,^09.9111
4.641.876
3.982 200
1,181.738
3,187.871
976.406
3i98ii
399.631
261,289
332.325
330 291
287,539
189.663
133 62<,848
12.029.^08
1.860.476
1 349.494
1.262.807
860.068
81\037
471.077
367,103
182,152
79148
100.418.93^
86.323,7(7
13.6«,1C0
5.876.686
4.621,894
4 188.944
3.376,800
1,528.770
l,49T,eCO
927,187
3g6J£o»
288.881
183,282
280.862
188.798
244.017
139.8 88
18,147,864
9.e0D,02'2
6.261.784
4.380,161
3,461,076
3,048,837
1,487 078
1,184.787
972,266
564,903
913.1163
497,303
79.683
69,891
81,145,848
27910.934
11.089,293
8.884.688
8.1 81,840
3,086.000
3.817.111
2,967,609
3.171.470
1,411.486
1,11^6,613
1,038,560
976.176
1.384,986
1.073,431
638.466
878.863
484 383
621.793
210,000
131,262.079
12.077,785
1,388.817
1.100.060
836,646
890,000
600,000
660.826
813.458
163,289
141,843
17,469,378
9.546.460
6,139.604
6.038,36&
3.849.78*
3.7C 0,000
1,897,813
l.C48,07S
814 390
802,886
616.380
406,186 .
91.748
72,000
8u,845.33S
i4.396,76»
12,388,740
6,473,04S
3018,49S
2,9g861»
2.233.747
3,629. 86»
3,349.771
1.269,980
1.071,766
1,039,39»
1,126,887
l,02e,00«
608,736
68,707,401
990.861.933
468.634.142
11.688.817
8.811 183
1,828.224
1.U0.673
894.88;
266,78* .
469394
304.(29
68,508,889
952,379,03«
423,802,934
10,86I,60»
9,849,011
1.162.8US
1,116,806
711,645
21.611.8681 90.684 867
* Ifot InOludcdlB totals.
100
TH£ CIHRONICL£.
fVoU LXIV.
THE riWAKOIAL SITUATIOlt.
Tb« iMdiag iaoMMto of the wMk hart bMo th*
4«f«t «( tto P«DlCe RUIrotd fandiof bill, the lignlng
«f Um wbiUAtioa tr«*t7 bj O.'WAt BriUia and the
Uailtd 8-.A1M, tbe o>a'4aB»i <)>▼ of earrenoj from
tko isUrior lovAnb New Vork with i*e nttur*! rMult
1 ^Mmrrtiiiil aowj aukot, ond the rotnrn of TAri-
M» nkm tot fordffa Mohug*. Kauer eiohanga
vilk vhieh iMt WMk eloMd continned ontil
IIm4^ sad wM » ranlt mualjof the nnohftoged
««adilk« of oar foreiirn trade morement— thtt ii,
VOTjlirt* Mporta aoJ rerj enikll import*, the euier
ttodtnrj belag aided do doubt bj matartog long bills
boagfet two and thro* moothi ago for inroetment ; on
<lM«U»«r hand tba hardeaiog of the ratei labieqaentlj
VMNportod to be du* in pirt to more pnrchaaei for
iarMtaoot, bataleoto a tpooial moremant, the bir-
MWiaf by Ktadoa in Now York of amoanta to be
MMd ia tho former city ao ai to ifcare the proSt
vUok the diff«r«noe in iotorvet ratoe promiaed.
Wo aro told by banks throagb which soae of the
lianaanliinijnit referred to hare been effeotod that they
kaT* .beaa large. The operalioa contista in the
■akiag. aay, of a aixty-day draft in London t>y a bank-
ing boQio thero upon ita New York correspondent,
it kitkar for aoeaptanoe aod discoaat The
1* are proap'Jy remitted to Ix>ndoD through
eight aterling or cable tra nafers. When the sixty-day
draft aataras the drawer must of course provide the
faada for ita payment. In this way L')ndoa has been
gattiag tba bs« of the mooey obtained from oor msrket
for aizty days at, ay, 1 per cent and h» s employed the
■Mnay in I/oedon at 3 pir ont, that havia g been the
qpaa aurket disoaat rate raliog at that onter aniil
Um latter part of the week, when rates fell o9 a
fraction.
These operations are attended with risk and look
• little aa if this kind of businea waa being oar-
riad on bow more for the parpiae of keeping up the
anhaafa aarket and s^Ting puties frjm lo3« on pre-
wloaa iavaataaat parohasea than for the profit the new
vantares aay yield. I f general bnsineH doea not roTlTe,
teporta of aerchaodiie will not show the increase
•aaal at this season of the year. In that cise it is not
fflipaaribla that oar aaliqoid ated trade balance should
ftlaa larxa aa to oaoaa embarraament, that is loss, to
akaaa who ara eagag ad in aaoh manipula'.ioas. The
kopa, howerar, and may we not uy the expectation,
tbeaa oparatora entertain is that an extra session of
•oon aft«r the fourth of Murch, and the
of tariff Ifgislation during the extra session,
•ill for a time ao largely iucreaae the imports of
goods haatfood forward to get into warehouse before
tba higbar dotia go into efPeot, that the trade b^anoe
win bo rararaed, aichange rates be advanced in a
oalaial way, and the manipnlaton helped out, even if
(laia rtviral doea not stimulate the movement of for-
aiga aiercbaodiM hitberward.
The foniga trade figora for the month of December
■ad for tba year ending with Deoember were given out
yartifday by Mr. Ford, Chief of the Bareau o( Slatis-
Cka. Wa laMish the detaili lower down in this article
villi aoBM Ttry intarostiog oomparisons. Next week
«a shall give oar usoal oompreheosive review of the
trada for I8M. Dot the totals are instructive ia con-
■aetloa «iih the foregoing remarks with reference to
fetaign exehaoge. It appears that the merchandise
balance in favor of th* United States for the 12
months ending with Daoomber is $325,822,184, the
largest balanoe aver recorded within a similar period.
What, however, is of still more importance as
bearing on preant tranactions in exchange is
tha fact that the merohandiss balance for the six
months since July 1 has been $250,865,753, or
over 85 million dollars larger than ever before ; and if
we indnde the whole trade, that is, merchandias, gold
and silver, the net balance is still found to be over 303
million dollars. This statement indroatea what those
who are speculating in foreign exchange are fighting
against We have shown on previous oooations that
the United Sates owes Earopa every year for interest
freights, etc., not to exceed 150 millions of dollars
annually. Bat the foregoing balance is only for the
last six months ; hence, deducting one-half this inter-
eat etc. item from the above balance, we have left 128
million dollars, which, less the tief security movement
since July 1 1896, represents the amount oiring to
the United Suktes and still uopiid by the outside
world.
We are sorry the Pacific Riilraad funding bill,
which hu been before Congress, was lost. At leut
this we aflirm, that it would have been considered an
act of good omen had Oongrea paued some feasible
law under which the tangled affairs of those great
properties could have been straightened oat and
Mttled. Possibly Congress will do something even yet,
thoogh it appears late to begin new legisUtioa. As
at present situated these defaulted roads onatitute
one of the burdens under which our industries are suf-
fering. Although the roads are kept agoing daring their
leceivenhips, their efficiency is lessened and the capital
in them is largely unproductive. Every such half-dead
thing is an incubas, somewhat after the character that
insolvent firms with corresponding assets and liabilities
would be while their affairs were undergoiag liquida-
tion in the hands of assignees. S.ill, even if Congress
does nothing, these railroad properties are not likely
to be left much longar in the position they now are.
Foreclosure proceedings already in progress mast soon
come to a head ; or if not that, jadging from the
statement in President Cleveland's message with refer-
ence to the Pacific roads, the Government will not
delay action under its mortgage miny week 4. Thus,
in some way it is qaite reasonable to suppose tha*; the
non-action by our legislators will not long henca be
found to have forced rather than retarded the rehabil-
itation of these properties.
We should not omit to mention as a moat hopeful
event of the week the Saund Money Convention at
Indianapolis and its wise action. Toe gathering was
a nonpartisan meeting of basiness men for coasalta-
tion upon currency reform, the vital issue of the
day affecting our industries ; the res9lutioas passed
showed that the delegates had not only diagnosed the
diaeaae carefully, but that thoy had studied the case
so oloaely as to know, in providing a cure, how to
touch with extreme accuracy the very points any
perfect system for this country must mtke provision
for. First of all the Cjnvention brushed aside all
nostrums and palliatives by stating that "a con-
sistent, straightforward aad delibsrately planned
monetary system" h»d "bioooij abioluteiy necessary;
next it declared that a got 1 staulard must be main-
tained ; next "that steps should be taken to ensnre the
ultimate retirement of all chases of United States
notM by a gradual and steady process ; " finally,
"that a banking system bj provided which shall
Jancabt 16, 1897.J
THE CHKONICLE.
101
furnish credit facilities to every portion of
the conntrj and a safe and elastic circulation, ' &c.
Here are the outlines of the work to be done, simply,
clearly and concisely stated. Any one can take them
and fill out the thought by merely preparing a scheme
carrying the suggestions into effect. Some may Hod
them a little icoooclastic in character, because they
call for the breaking up and throwing into the scrap
basket of many matured plans — matured before the
present currency conditions fully developed — but cher-
ished as idols now. It is consequently a great gain to
have had the practical business man's idea put into
such a living shape. There is no doubt of its speedy
growth in popularity among those who are working for
sound money. The developments day by day of the
losses which the present unscientific currency arrange-
ments are producing will enable all honest men not
long hence to see that the Convention's action just
meets the needs of the country.
Last week's bink statement showed unexpectedl y
large increases in cash and in deposits. This was due
about one-half to the disbursements of the Treasury
and the other half to the movement of currency from
the interior to this centre. There was a gain of 117,
523,200 in deposits, while the increase in cash was
tl5, 017,800. Gomparisons of the bank statements
>h iw that since tae week endini; November 7 tliere
has been an addition of tl8,93G,500 to the loans,
of «13,190,400 to the specie, of $43,390,800
to the legal tenders, of $109,600,600 to the
deposits and of $39,181,050 to the sarplus
reserve. Naturally enough under such circumsttinces
the money market has all the time been growing
easier, the tendeocy continuing through this week.
For instance, the call \o%i branch of the mirket, in
which the average has heretofore been about 2 per
cent, haa ruled this waek at an average nearer 1} per
cent; for time coatracts the tendency has been mire
decidedly downward, and on Wednesday 2 per cent
was quoted for sixty days and 3 per cent for sii
months; rates for commercial paper have also been
lower, as will be seen in our review below.
The iron trade, which by many is always looked
upon as a sort of barometer of our industries, jast
now seems to be reflecting pretty accurately the gen-
eral business situation. Tnings are better than they
were before the election, but the progress towards a
full revival of activity is much slower than had been
expected. The "Iron A.gt" has this week published
its usual monthly statement showing the number of
pig iron furnaces in blast, with their capacity per
week, and the further addition during the late month
ia seen to have been quite smal'. In brief the number
of active furnaces has been increased by only 7, raising
the total to 154. These 7 were quite large furnaces,
adding 17,442 tons to the weekly production, but even
after 'bis iLcrease the product is only 159,720 tons per
week. Of coarse as compared with the low point on
October 1, when the weekly outpat was down to but
112,782 tons, there has been a very substantial recov
ery, the increase of 46,938 per week being at the rate of
about two and a half million tons per year. But we
have only to go back to the Ist of July, just before
Bryan's nomination, to see how far from a normal state
we still are. As against 164 active furnaces
now, I he number then was 191, and against the
present product of 159,720 tons per week, the
product at that time was 180,532 tons. But even
in July the output bad already greatly dwindled.
and if we compare with the Ist of January last year we
find that the number of furnaces in blast then was no
less than 341 (or 87 more than at present), and the
wpekly product 207,481 tons, as against only 159,720
tons now. When at its maximum, namely November 1
1895, the weekly output was 317,306 tons, or at the
rate of nearly three million tons per year better than
the present rate. The reports from the iron centres
this week speak of a somewhat more active demand in
the various branches of the trade, and possibly if
Congress does not put an embargo on the movement ,
the production of pig will now be further materially
increased. It would be interesting to knov what had
been the course of accumulated stocks — whether there
had been a further decrease — but the "Age" does not
give the statistics this time.
We make this week an analysis and compilation of
the gross earnings of United States railroads for the
late calendar year. Toe net earnings for the twelve
months of course will not be known for some time.
The latest returns in this case cover the month of No-
vember, though one or two roads which issue their
statements with unusual promptness have already fur-
nished figures for December. The Union Pacific for
November reports $44,090 increase in gross but $71,-
507 decrease in net ; the Illinois Central $283,933 de-
crease in gross, $343,830 decrease in net ; the Ailantio
& Pacific $5,864 decrease in gross, $37,858 increase
in net ; the Fort Worth & Denver City $9,963 increase
in gross, $30,054 increase in net ; the Ohicigo & North-
ern Pacific $6,048 decrease in gross, $687 increase in
net ; the Choctaw Oklahoma & Gulf, $4,968 increase ia
gross and $9,277 increase in net ; and the Norfolk &
Western, $49,362 decrease in gross and $16,661 increase
in net. The following is a four-year comparison for a
number of roads which have during the week fur-
nished returns for November.
Ktmtof Road—
Chleago A Weit Mlohlgsn. .OroH
Net
Oetrolt Liuu. A NorU>era...araM
Net
Ft. Wortb A Denver aiy...Grou
Net
Srand Trunk Urait
Net
lUlnola Central* Oroit
Net
■ortolk A Western liroM
Net
Pblladelpbia A Brte Uicmi
Nat
USO.
tojasa
03.133
e.Tse
131,724
i.si^.6oa
434. tS8
I,fi73.»i5
4-9,167
»C)3,739
24S,07A
47a,S«8
-aowirnbtr Marnintt.—
1808.
*
«
•
18»,0I7
1 8,171
148.680
S5 7S2
38.005
«l.ft3a
80.403
9:,<>»
lOl.sat
1»,.'I67
2',3M
M.i!as
18<,78l
IHJ.SM
1S4,8W
8<4;2
»1,"34
B6.837
1.6J.7'(0
1.' 49.0^7
1.779,880
4iaoit
4l> .-34
477,010
2,167,SJS
1.9aJ.87l
1.891. leo
D8 '.itn
«14 797
608.498
•S3. 101
St«.270
8»2.888
lUO.lIB
«'W,78S
237,678
4M,l)7g
S8I.«4«
40&73S
1» 1,737
111.«.8
110,898
• Inelndee Bt. Lonia Alton t Ttrre Uaate for all the jMn.
The amount of gold and of gold obliafatioos turned
into the Sab-Treaniry in exchange for legal tenders
this week was $300,000. The net gold in the Treasury
oflBcially reported from Washington on Friday of last
week was $138,624,814 and the amount so reported
on Friday of this wetk was $141,086,876.
Money on csll, representing bankers' balances, has,
as already stated, loaned this week generally at
li and at 1} per cent, with some loans at 2, and
tho average has been a fraction below If per cent.
Banks quote 2 par cent as the minimum, but"
trust companies loan at 1^ per cent. The
inquiry for time contracts is light, many in-
tending borrowers feeling that they cai ob ain better
rates later on, and lenders have thii week made con-
cessions in rates. Quotations are 2 per cent for sixty
days, 2^ for ninety days to four months, and 3 for
five to six months, on good Stock Excharge collateral.
The demand for commercial paper is so urgent from
almost every quarter that all offerings are prom ptly
absorbed and brokers report an increisiag business.
Rites are 3@3J per cent for sixty to ninety-day en-
lOi
THE CHROMCLK
[Vol. LXIV.
4ofwd bUU iMirabU, H%i tor flm^ilMi and 4i«ft
tm cood fwir to dx moatha' aiiijd* lumw.
hm bMB ao fMtar* of importMtM ia the
: flBMWbl iitnatioD thia WMk. Th* Buik of
aiaiBUB rate of diaooont rvrnftina nnohtn^ed
«| 4 p«r CMC Tte o*bi« r«poru dUoooaU of lixtjr u
ataatj d«y b«ak bilU ia Loadon ^ 1&-10 par cent. Tbe
•pas oMrkvt nia *t I'tfU >• ''I par oaat and at Barlia
•ad Frankfort it it 3^ par oani; aooirdiaK to our tpeo
kl aaUa fioa L<>odoii tha B*ak of Easliod Kaia<l
<l«<m,tM ta«UiOQ doriog tha ««ek aod hold £35,594,-
Mt at tha okaa of tha waek. Oar oorretpondeut fur-
adriaaa oa that th<> gain vaa doe to receipts
tha iaurior of O raat Britain of £948.000 net and
tepoHa of £138,000, of which £108.000 ware fro3i
AMimlia aad £t0.000 from China.
Tko foraifa asehanga market, though it opened
f, kaabaan generallj firm thii week, with a good
for long itarling for invaatment. Tlie otTeriDgB
$i ■storing tiztj day bilU hara baan moderatelj largp,
tat Umj bare made onlj a alight impreMion upon the
■arkat, aaa part of tha demand for ihort iterling aod
lor oabla traoafan haa oobm from remittaaoes of the
prooaeda of London drafu disooantei by tomi of our
banka, aa related ab3Tf. The market after being euy
Satwday opaoad tirmer on Minday, and the r<ing4 for
poatod rataa waa from 4 84^ to 4 85^ for lixty dtr and
from 4 87i to 4 88^ for tight, nearly all the driiwers
adrancing their rat«i half a cent compared with the
eloae on Friday and S itnrday a week ago, and there
I alao an adranoe of half a cent in rates for aciuul
to 4 84i04 84) for long, 4 87^94 87J for
ahort and 4 88(^4 88i for cable transfers. There wa^
ao change in nominal rates on the following day, but a
aopply of matnring long bills made short sterling and
oabla tranafan aariar and rataa for actual business in
thaaa fell ona^aartar of a cent to 4 87i®4 87^ for the
former aod 4 87|^4 88 for the latter, while rates for
loog storting were nnohanged. The range for posted
latas OB Wadnaaday waa 4 85 to 4 85^ for sixty-day and
4 88 to 4 88| farsight. The market was quoted steady,
vith rates for aotnal baainaaa unchanged. Oa Thnrs
day poated rates remained unaltered while those for
actoal bosinaas adTanoed one- quarter of a cent
all around to 4 841^4 85 for long, 4 87^34 87|
for ahort and 4 8894 88^ for cable transfer!. The
■urkat cloaed firm, especially for long sterling. Yes-
tarday the range for poated rates remained 4 85^4 8.H
for aixty>day and 4 8894 88| for sight, and no change
Moarrod in the rates for aotnal bnsineas. The follow-
la( ahows t he daily poated rates for exchange by some
of the leading draweit.
m*tLt ffoaaaa mawt toa toamea ■zoHAaea.
ao..iUr
m
8
e
8
JS^
8
8
m
8
8a
8B
8
Wn>.,
/•«. li
8
8S
8S
8
8»
S»
8»
TBom..
J-H. U.
8
89
8S
8
Km..
J<m. IS.
8
8
m
SIS
8:t
Tha aaarket oloaad firm on Friday at 4 8594 85| for
dzty-day aad 4 8894 88^ for sight. Rates for actual
kaaioaas wan 4 84194 86 for long, 4 87A94 87S for
ahott aod 4 8894 88i for cable transfers; prime com
■arcial bills ware 4 8494 84i and documentory 4 83^
9* 84. The Bureau ef Statistics at Wasbingtoa has
this week itsued the statement of the country's foreign
irade for December, and we give the figures below in
onr usual form.
rocuoa Tbads MoTsaBrr or thi Umitku Btatb*.
U lb* rullovlu IkttiM thrM atohan (000) arc tn all oaaw onliMd.
'
■ipvta.
-ISM.—
Imroru.
toMM.
mm-u.
-i8»a.-
fmport*.
aM«f
M«Mh>4l
••. S
I
t
t
t
I
Jan-Marah.
nia.oM
lBr.^rs
-f4'i.Ht
•Je4.srt
I B3.1M
■fT.«l»
AlX.^IUM..
1IOI.&I)
l»*>H)
4-Si.tlt
ixi.tm
1BS.4II
-II l»&0
ImtT-UH*.-
41II.1IW
liitu
■faa.oia
I»l.<w-'
•40B.443
-38.S81
ootob^w....
1 1 ».!«
30 IM
-t-as.0M
HT.OJI
79.080
-mi.oii
MoTvskar..
iaB.'<M
sa.oit
-)-3B.018
sr.aiJ
«S.sia
-h 411.008
Daoaabar..
ll».ttT
3T.ua
-»-3B.t7t
H'i.sis
a-i.3ai
-I-30.SM
Toul i.ea3.«7»
•M-Uo -i-3M.tti
8-il.MO
Mai.MH
+43.101
(Saia-
JaiL-liareb.
I3.ts>
9*.«0»
-•.4T1
SO.asi
14.100
•t-ia.61«
API. -Jan*..
•ja.'Mi
4.M1
Vit.UO
4.<ii
Itjifit
-T.iO*
JalT-8a»C..
IM.OM
ae.m
-i».0«7
37.l«M
1».86S
■t-33.10S
Sil
•JT.Ml
-■*r.«i7
1.871
1.70 J
■1-77
XOTMBbar.
tu
7.W0
-a,i>»3
14.0M
Ml
-t-la.4«!)
Daoaabcr..
4'yi
M.ST^
-i.lM
IS.IKS
l.«ll
-H4.ni
ToUl
aa.Tia
i9tr»<
-ia,oti
lai.ojs
34.&W
■f7a.o«o
aii**r.
Jan.-Mareh.
13.!B}
3.-*n
-hll.lM
la.Hs
l.IMM
■t-e.oi*
\pl.-JnM..
14. MS
ii.i»
■na.Ms
ISJM
!».70T
-H0.57S
ialr-Sa*!-.
ta.:>u
a,&io
-t-14.00t
1 4.767
S.M7
■m.ioo
Octobw.....
4.7M
»M
-t-S301
4.»M
1.S93
•^s.*l
NOTMlbCT-
4sn
1.T7&
-t-3.IW
s.iu
l.OM
-t-4.S86
iMoambar..
a.«to
l.tHO
-t-3.&W
3.ie}
8M
■t-4.2T«
*aui
a3.osi>
1 -4.104
•t-30.Siil
33.8)3
II.2M
■f4-4.617
CMaUOra.
Jaa.-Man)k.
»■>
158
-«I8
mi
«»S
-H«7
Apl.^WM..
it
4U
-«M
as
67t
-S40
Joly-eapt..
6S
SA
-»M
«
473
-407
11
tst
-«08
11
*ll
— JOO
NoraabM-..
u
IM
-•4
IS
in
— !13
DMHBbar..
U
1W7
-Ml
7
110
-103
Total
«iu
l.MJ
-1.7M
tet
1.86T
-1.4»»
Mllvsrla
Ore.
Jaa.-Marcli.
IM
4.W1
-4.0M
....
i».»77
-*.e77
ApL-Joae .
Its
4.S69
-4,111
lit
3.S0I
-3.1<>5
Jnly-g«pL..
•la
4.3112
-4.HM
«t
3.050
-«.»9«
uctobar. ..
17»
i.tas
-l.tio
100
I. ISO
-1.080
.N-OTwabw..
Its
l.sa«
-I.lM
7t
l.OOJ
-l.OM
I>eeamlMr..
101
l.Ml
-l.M»
105
l.«7
-1.S81
ToUJ
MS
f aioorti-
IT.tW -10.7S7 S78
— Rzoen of Imporu.
13.0d7
-la.TOK
+ Bzoaaao
We subjoin the totals for merchandise, gold and
silver for the twelve months since Jatuary 1 for six
year?.
IMBO.
1SB3
1H».|.
I sea
lNW-4.
IS»I
MBBOKAWDm.
Sold.
a^porti. i iHipo'Ca.
• i •
i.i'oi,8;s;s><e.6M
>r44 '<fOMei.<l<is>
M'iS.K'.' H7H.31»
«?.■$. "i- 7iie:t<'
B3St2l .SIOl-31
(»»U.M" S4S..'i31
perU.
t
104.730
SMSSS 3S.BM
-43.11*1 'ia4.B«7!34.S»S
I4H;S9 I0l8i0:-4I,S»1
IOIIS»l>7».K^t 73.2n
li4iW7B.08iil44.liTO
JtoMM
Of
t
•47,777
70,671
80.1011
e,703
porr«.
s
e4.0K
3«,21l
47.S<a
48.368
aB.0!«l;3S.»7a
34.lial-47.8W
Jm-
portf.
«
30.234
94.>7S
17.034
•47.786
'4t.7M
1M.103
•rata.
ptrU.
t
33,788
!IS3*8
■4B,6U
tSMS
14.200
9.600
* Kzoaasur luiporta.
In the last table gold and silver in ore for 1893, 1894,
1895 and 1896 are given under the heads respectively of
gold an 1 silver ; for the other years both are included
in the merchandise flgnres.
The following statement gives the week's movements
of money to and from the interior by the New York
banks.
Wtk Bt Mm t Jan. 16. 1867.
Oarranor..
••Id
Total >ol4 a«« leyU t— dT«.„..
li«M4ti«l »» SMppMI bt
a. J. aaato. ! :r. r. Aatiki.
S7,
764,000 $3,381,000
807, 000; 411,000
»8.56i,ooO'"iai79a.obo
4M hUtHt
Oaln.a4,373,000
Oatn. 396,000
Qaln.a4. 769.000
With the Sub-Tre»sury operations the result is as
follows.
WMk BaMif J»». 1ft, 18»7j
BaoU* iBtaHar aoraaaaVM alwra
Sab-Traaaorr vparaMona
InU
Out of
Bank:
BankBoUUmo.
B8,B61,0OO BS. 792,000 Qiln «4,709.0OO
18.300,000 14,S00,g00 Oaln. 4,000,000
Total geia and layal tendara B»'».861,000 »18,09a,000 Oaln.<8, 769,000
The following table indicates the amount of bullion
tn the principal European banks this week and at the
orreaponding date last year.
Jakcaby 16, 1891.]
THE CHKONICLE.
103
Banko!
■nsUuid.,
AVMUSnat'j
■*iktn
Nathwlands
H*t.BelKlnm'
Jan. 11. 1887.
Jan. I«, 18M.
Sohi.
auvtr.
Total.
Bold.
SUvar.
£ I *
35,581.282
7e.l99.8is'l8,02 1,328 126.221.171
27.1»0,«6; 13,745.333 11,233.00)1
30,295,000 12,581,000!
8,928,000 10,060,000
2,831,000 8,821.000
2,78(1.000 1,398.01)0,
S I £
35.691.283 46,052.703|
TtkUlll WMk 183.537.781
*Ot.pnT. w'k 1 181,731.018
12.878.000
18.808,000
8,15S.OOO
1,191,00}
77.298,890
30,085,010
21,120,000
8,001,000
3.371,000
2.873,333
93.818,862 277,181.158 191.907.838
93.385.180 215,098,529 190,707,201
19,S36,iffi7
11,817,980
12.873,000
10,110.000
6,822.000
1,338,837
lotal.
S
18,052.703
126.e85,-<17
11,903.000
37.093.000
18,111.000
I0,19c),000
1.010,000
96, 128,1 SI 287,031.120
91,012,200 285.319.101
* Tbe divistoD (between gold and gllrer) given la our table of ooln
and bolUon in the Bank of Oermany and the Bank of B elgium ia made
from the best estimate we are able to obtain; in neither case is it
claimed to be aooarate, as those banks make no distiaotion in their
weeldy returns, merely reportini? the total gold and silver, but wa
believe the division we make is a olose approximation.
Note.— We receive the foregoinR results weekly by oable, and while
aotaliof the date given at the head of tills oolumn, they are the re-
tmxDa issued nearest to that date— that is, the latest reported figures.
k
THS ARBITRATION TREATY.
Almost exactly a year ago the outlook for peaceful
relations between ourselves and foreign States, and be-
tween these European powers and one another, had
darkened to a degree not witnessed since the last
continental war. At the close of 1895 the United
States was in a flame of hostile sentiment against Cfreat
Britain. The dramatic " Jameson raid " had drawn
the German Eoiperor into a public attitude which, as
even the conservative London '• Economist " declared,
was " a piece of gratuitous insolence " which the
British people "are bound to resist, even if resistance
costs them a great war.^' The Armenian massacres
Had complicated the tangled European diplomatic situ-
ation ; the preliminary rumors of Gangressioual action
such as would logicilly force a war with Spain were
already circulating.
We venture to say that the historian will have some
trouble, when he studies the present generation phil-
osophically, to ezphin this extraordinary and almost
world- wide outburst of warlike feeling. Part of it
-certainly wai a mere coincidence, yet it did undoubt-
edly for the time appear as if almost every one of the
Great Powers was eager to enter upon an angry iutar-
national dispute. Particularly in this country, the
fury with which the press and people rushed into talk
of foreign war suggested latent possibilities from which
most of us have believed our nation to be completely
free. The singular pirt of the narrative, when
it is written in comprehensive history, will be
the Buiden and universal subsidence of the
outbreak. The ringlealer of the Transvaal raid is
brought to England, tried and convicted by a jury of
his countrymen. The German Emperor's official
organs in the press virtually apologize for him. The
Powers apparently co-operate harmoniously to force on
Turkey observance of the rules of humanity. Tue
Senators, bent on Cuban intervention, abandon their
scheme bafore they have brought the resolution to a
vote. Last of all, the critical dispute over the Ven-
ezuela boundary is almost forgotten, while the issue of
that one small problem is superseded by an arbitration
treaty between the two States lately on the verge of
conflict so broad and permanent in its provisions that
it may properly be described as a revolution in diplo-
maoy. We question if history can anywhere provide,
within the compass of a single year, so dramatic and
significant a contrast.
The arbitration treaty, which was signed at Wash-
ington last Monday by the official representatives of
Oreat Britain and of the United States, grew in one
sense out of the Venezuelan dispute. The plan did not,
however, by any means originate with that controversy.
ArbitratioQ, special or general, may be said to have
been a recognized policy of this Government since the
submission of the Alabama Claims to such a court in
1871. It has been peculiarly the policy of the present
Administration. Long before the Venezuela episode the
State Department was at work on plans for a general
arbitration treaty. Negotiations to that end were con-
ducted with great assiduity by the late Secretary
Gresham ; and Secretary Olney, on his succession to
the office, found much of the preliminary work already
done.
A very powerful influence was however exerted by
the Venezuela episode in this respact: that the actual
crisis which arose between the two nations a year ago
proved the immediate necessity for a permanent under-
standing such as could be appealed to in emergency.
Two years ago the suggestion of war between Great
Britain and the United States would have been re-
garded as absurd. Twenty-five years ago President
Grant, referring in his annual message to the treaty of
Washington, expressed the " sincere hope," which was
clearly the popular conviction, that the friendly rela-
tions between the two governments, left by that treaty
"without a shadow, uaj forever remain equally
unclouded." Diplomatists, sharing this convicciou,
took their time. But the extraordinary outbreak at
the close of 1895 opened the eyes of statesmen. It
undoubtedly startled our own administrators quite as
much as it did the English public leaders. "So one
can seriously suppose to-day that the President, in
issuing his special message of December 17, contem-
plated any such popular explosion as resulted.
The warning to both parties to the controversy was
so unmistakable that the work of the new Venezuela
Commission was at once overshadowed and eventually
quite superseded in public interest by the negotiations
for the larger treaty. From the moment that the gen-
eral arbitration plan was known to ba on foot, the
Veneznelaqueslion practically disappeared from public
notice. The universal satisfaction over this turn in
events is the best imaginable proof that the " war
talk" of a year ago did not represent the true and
sober sentiment of our people. Lord Silisbury's an-
nouncement, at the Lord Mayor's banquet on Novem-
ber 9, that the terms of a general arbitration treaty
were already virtually settled, received almost as con-
spicuous notice in the press and in public discussion
as did the original Venezuela message. Last Tues-
day's formal publication of the treaty was received
with au enthusiasm which leaves no doubt whatever
as to the feeling of the United States.
The terms of the treaty thus formally submitted are
clear and comprehensive. Its provisions cover three
distinct classes of disputes : Claims not involving ter-
ritory and amounting singly or in a group to less than
£100,000 ; similar claims exceeding £100,000 ; and
controversies involving the determination of territorial
claims. Of these the first and smallest class are to be
settled by three arbitrators; two "jurists of repute"
named respectively by the two governments, and an
umpire chosen by these two. Pecuniary claims ex-
ceeding £100,000 are to be settled by a similar tribunal
if unanimous decision can be obtained. If unanimity
is not obtainable the decision may on appeal be reviewed
by a second tribunal of five other " jurists of repute,"
two named by each of the contracting Powers and an
umpire selected by these four.
104
THE CHRONIC LK.
[VOL. LXIV.
Tb« thirtl olMt of OMM, emonoitiK tarritorial cUiin*.
!■ Mtarally tbtt no«tdeliMt« of all. Sach <liipute« are
to b* rabaiilted t« a Iribnnal of nx roemb«rt; threo of
ttMi JiMiora of the United SutM Sapreme Oonrt or
«lraBlt eeartt, named bf the Prwident, and three
l«f tha Britith Sapreme Oonrt of Judicature or
of the Jadioial Committee of the Prirj
il, named by the gaeen. Thii tribunal, in
' that ill verdiot shall be bindinx and final, mnit
•ward by a raajoritj of not leei than fire to one. Bat
deeWoa hj let* than thit Are>iixthi majority ihall
■Ito be final, nnlete either Power file iU proteat with-
fal Ikn* aonthi. In any caae, it i* prorided
tbal BO reoonna to hoitile maMurea shall be
kad antil the mediation of one or more
ttkartlj Powers shall hare been iorited. Finally, in
Untrenl of failure by either of the two first-named
tribaoais to ohooee the umpire requisite to complete
their membership, snoh umpire sh«ll be appointed by
IheKiogof S«0den ; this sorereij^n being obriously
■aaed as the ruler most remored, politioally and terri-
torially, from any association which would pr*-jii'lice
his indiridoal judgment. The tresty it to remain in
forw abtolutely for five years, and permtientlr there-
after, anieas on twelre months* notice by either gorern-
ment of its wish to terminate the agreement. The
tiae aad place of meeting are left to the decision of
A* tribunal itself, and decisions are, if poiaible. to be
rendered within three months.
Such are the chief points of this exoeedingly im-
portant document. Its terms are Iarg«)Iy based on those
of the Treaty of Washington signed May 8 1871. It
differs from that memorable State paper, however, not
only in its permanency of character, but in some of its
esaential prorisions. As might naturally hare been
•xpeoted, from the difference in the scope of the two
tovatiet, the precautions and safegnarda thro wa about
Ike pnaent oonrention are by far the greater. Tbe
Oenera oommission established by the farmer Washiog-
too treaty consisted of fire arbitrators namad reapct-
Irely by the PresiJent of the United States, the Qieen
of Eogland, the King of Italy, the President of the
Swiss Confederation and the Emperor of Brizil, and
iieh l oo by majority rote was to bs floal. Tne claims
Mbaitteti to the Gdnera Commission were, hovever,
pcouDiarj; the esse in point and the principles govern-
isf that case were thoroughly well defined. Tae
•ward, therefore, necessarily depended almoit wholly
on the tribnoal's judgment of the facts.
It will be seen at a glance hov f ^r the scope of this
Month's treaty extends beyond that of the treaty of
1871. The peonniary claims considered ualer the
treaty of this year will, indeed, resemble in general
eharaoter or principle the qdestions at issue twenty tire
jears ago, and the tribunal* ''j)roridtd for such Cises,
in the earlii-r articles of the trefllUr, are for that reason
aot nnlike those nnder which theV Oaner* oommission
•oled. Bit territorial disputes olan a very different
problem. .Sooh questions, it it Iknowo, presented
Ike chief difflcnity in the ne^iatioa. It was
OB this very point that Lord S&lisbnry stood out
loogrst ; nor was Oreat Britain kny more rltaily
ooaooreed than we. That such qaeslons should be sub-
■Mtod ia advance to a tribunal cbipiy made up, as the
OoBera oommission was. of BOM fc wfes of other foreign
Slates, it was soirce'y reasonable to expect, ^ No such
provision appears in the article governfng caaes^sf thij
order. In t-rHtorial disputes the rights of thktwo
•oatractlUK p4riie4 are guarded jealously. Such cl\iui!»
ibvjlv<f, as was sufficiently shown in the Veneanela
oontrorersy, examination of intricate points of law and
precedent ; therefore selection of the arbitrators ia
wisely stipulated from the highest law courts of the
nations. Sach claims peculiarly affect, moreover, the
iatereeta, remote or immediate, of neutral States ;
therefore no umpire fron the outside is prorided for.
Indeed, the more the Sixth Article of the treaty ie
atndied, the more the conviction deepans that only
the highest exercise of enlightened judgment and
pnblic spirit will m*ke possible, in a case of serioua
dlspate, a positive settlement by the onrt of arbitra-
tion. R'ldnced to its simplest terms, the meaning of
this article is that territorial disputes can be positively
■ettled by the arbitrators only in case two out of the
three judicial aathorities namil by o le coates.iag
Power shall decide agtinst the claim of their own gov-
ernment. This is certiinly as much of cinaervstism
as the ffl'>stjaal)U8 Power c mid demiid. Jiil<e Elir-
lan did indeed vote against the claim of the United
States in the Bdring Saa ar >itration of 1893 ; but hia
was the only American vote thus catt. Ia adrince of
actnal experience in a serious case, it wjnid be hard
to say how far the arbitration c»nrt w>uld serve ite
purpose.
Be that as it miy, the treaty is aa anspioioae
achievemaot. Af thi President obiervjs in h's mes-
sage of transmittal, " although the resale reached may
not meet the views of the advocates of immediate, nn-
limited aid irrevocabl-) arbitration," it must neverthe-
less be "recognized as mikini; a long step in the right
direction, and as emb)dying a practical working plan
by which disputes between the two countries will reach
a peaceful adjasttnenii as a matter of course
and in ordinary rontine." The approval of the
Senate is anticipated. The arrangement, as we
have seen, is much more guarded and conservative
in terms even than that of 1871. It is open to no-
such objection as the orginal convention of
1869 regarding the Alabama cUims, a treaty which the
Senate reas->nably enough rejected. Th it treaty pro-
vided an umpire who would decide iudividuilly all
cases on which the arbitrators for tha contracting
Pjwers disagreed ; in substance the whole deoision
was placed in bis hands ooly. Tne preseat treaty is
as far removed as possible from any snob fundamental
weakness. Njr need any importance ba attjohed to
newspaper rumors of opposition on the ground that
the King of Sweden is allowed too large dictation.
This suggestion is without reasoi. Resort to his
judgment, in the first place, is not allo<red at all
in territorial disputes ; and in pecuniary matters
it is provided only in the case that the arbi-
trators of the two contesting States shall fail to
select their own umpire. We a'tach qaito as little sig-
nificance to the current vague reports ihtt other foreign
Powers are discontented with a tretty of such intimate
association battreen Great Britain and the United
States. If these Powers feel that either England or onr
nation has gained nndue adrantage as comptred with
other S'.att>8, there is an easy remedy. Let such other
Powers open negotiations for similar arbitration treaties
for their own benefit.
It is our belief, in short, that the treity will meet
the cordial approval of the civilized world, as it has
already received the prompt approval of American
public sentiment. This second treaty of Washington
worthily closes an administriition n otewortby, in spite
of its maay vicissitudes and troubles, for its high ptir-
jASDAB-y l«, I8a7.j
THE CHRONICLE.
105
po3e aad honest effort ia behalf of public ffelfare. If
Mr. Cleveland had no other claim on the recogoition
of history, the repeal of the Silver Parchase Act in
the first months of his second term and the settlement
of the arbitration problem near its close, would ensure
its place. This final achievement is in truth a step
in the march of civilization which promises to affect
the whole worli's history. It is the honorable d is
tinction of the United States that for a generation it
has taken the initiative in this vital problem.
THE REPORT OF THE LEHWH VALLEY
RAILROAD.
In talcing up the report of the Lehigh Valley oae ia
forcibly impressed with the fact of changel methods.
Time was (ind not so very long ago either) when the
company's annual repsrts did not even contain a bal-
ance sheet. No«v not only this essential of a complete
rep3rt is furnished, but the announcement is made ia
the report that the monthly publication of the results
of the business of both the railroad company and the
Lehigh Valley Goal Company will be begun with the
current fijcil year. Furthermore, we are told that the
English efstem of annual examination of the com-
pany's accounts by public accountants — in other
words, the Bvat«m of an independent audit — is alao
under consideration by a committee of the board of
director;. We will only say as to these deparcures
that they are steps of the right kind, and indicate the
desire of those directing the management to meet toe
wants of security holders and the public for fuller aud
more frecfaent information, accompanied by the assur
ance that the accounts as presented are in accordance
with accurate methods o^ accounting.
The Lshigh Valley is one of the larger anthracite
coal carrjiog properties, and in the anthracite trade,
as our readers know, the conditions the late year were
very unfavorable. We will not go so far as to assert that
it was the worst year ever experienced in the trade,
but it was at all events a very poor year. As a matter
of fac'. the anthracite situation has been unsatisfac-
tory for a good m*ny years, the hopes of an improve-
ment having unfortunately again and again been
disappointed. Tne suspension of dividends by the
L:high Valley in 1893, after a continuous dividend
record extending over thirty- five years, can not per-
haps entirely ba ascribed to the coal traie situation.
It followed in part from the burdens imposed by the
extension of the lines of the system. These extensions
were made with the view to strengthening the road s
position and diversify its traSia, and the fruits of that
policy, as we shall presently show, are now appearing
in increased traffic and revenues. Bat the immediate
effects wdre ratner disappointing. The heavier charges
entailed by these various outlays began to accrue at
once, while the dsvelopment of the new sources of
traffic (particularly at a time of depression in the
basiness world) was necessarily slow. Simultaneously
the roa 1 had to contend with a greit strike and with
other adverse circumstances.
Giving due weight, however, to all this, it still
remains true that the conditions in the anthra
cite t'ade, not only during l-*96 but for some years
past, have been decidedly adverse, and that all the an-
thracite carriers, even the largest and strongest among
them, have suffered from ihit cause. Not only has
the Reading bad to be reorganizid again, but the Cen-
tral of New Jersey felt obliged in the last half of 1895
to reducd its dividends from the basis of 7 per cent per
annum to 5 per cent, and the Lehigh Coal & Niviga-
tion, an allied corporation, in 1894 came down to a 4
per cent basis. Then the Delaware & Hudson has now
also made a reduction in its rate of distribution, drop-
ping from 7 per cent per annum to 6 per cent. This
leaves the Lickawanna as the only one of the large an-
thracite carriers still maintaining the oli rate of divi-
dend payments.
In the late year if the industrial situation had not
taken such a disastrous turn the anthracite trade
would undoubtedly h*ve shown decided improvement.
The various anthracite interests had at last (in Jan-
uary 1896) abandoned their policy of ruinous strife
and substituted common-sense methods for the inde-
fensible prictioes previously in vogue. They had been
mioiog coal without limit, and carried competition so
far that the profif; from the business was extinguished.
They decided to curtail production and bring it down
more nearly to the demand. Hence a very radical
policy of restriction was inaugurated. Yet President
Wilbur says it was not until midsummer that the price
received for coal covered its cost. There were three
reasons for this. In the first plac^ the advance in the
selling prices of coal was mide only gradually; in the
second pUc^ all the compinies had Urge future con-
tracts outstanding at low prices, and in the third place
the expense of operating the collieries is increased
when production is small. Unquestionably, however, the
benefits expected from the new policy would have
accrued the latter part of the year except for the in-
tense depression in trade which develop ad as the result
of the silver agitation. This caused a very great fall-
ing off in the demand for coal, so that though better
prices prevailed the companies disposed of greatly
diminished amounts of coal. The consumption, in-
deed, fell so much below expectations that the output
once more ran greatly ahead of it, leaving supplies
again accumulating.
Mr. Wilbur says that the better rates obtained in
the latter partof the year produced an undiminished net
revenue, notwithstanding the loss in t >nnage. He points
out, however, that unless somathing is done to prevent
sales for future delivery at the lower prices usually cur-
rent in the early part of the year, and to avoid excess-
ive output of coal when not required, the favorable
result anticipated for the current year may fail of
realizitioo. Tne anthracite companies should certainly
take care to guird against such an outcome. At the
sime time it appears to us ttiat the situation is meas-
urably more satisfactory than it was twelve months
ago. Tne carriers have the trade batter in hand, con-
tracts at the old low prices ard nearly all out of the
way, and then also we think the indications point un-
mistakably to a revival of activity in our iLdustries,
ensuring an augmented consumption of coal, under
which the difficulties in the trade must disappear.
Quite apart from tne improved outlook in this branch
of the company's business, the road's general traffic is bti-
ing steadily developed, even in the face of Indus rial de-
pression, and this growth will of course also be accel-
erated in the event of trade revival. The development
in the direction referred to has baen very striking dur-
ing the last two years. We hare adverted above to the
enlargement of the system's mileage. Since the open-
ing of the Buffalo extension in 1892 the coiuptny has
had a through line under its own control extending
from New Y^rk to BaStlo. It has also m(l-> a num-
b.T of c.'ier acq lisid »as, th) in is, rjc i: i: i- leie
1U6
TAB CHRONICLE.
[Vofc LXIV.
>tk«Middlr«ix VslltTMid the Ktmir* OortUnd
4 H«rtk«ra. Th« report mji that theae line«, b«fidai
haviaic ■ gocd lood tnde, are both importMit feeders
to th* g*e«r«l boaineM of the ■jrttem.
Tb* oileet of the new extension* and soqaisitioni,
toftUMr with th« gmenl derelopment of the oom*
pM|^ boiBeas, is eMO in the annoonoement in the
l«poft that for the late year the tonnage moremeat of
IIn fNight for the first time in the history of
sptaytmMded that of anthracite and bitumin-
oBseoskl and eeke. In the fleoal year ending Norem-
Wr 80 law the ton-mileage of ooal had been 1,323
f nWa a tool, that of general freight liii'i million ; for
tb* fiaeal year 1896 the ooal ton mileage waa 1,333
■flttOB (anthracite baring decreaeed, while bttaminoas
tBOVMMd), and the general freight mileage increased
to 1,U6 millions. In 1894 this Utter amoantod to
o^ 1,004 millions, so that in two years the expansion
hM been otot Hfty per cent The pusenger trifli} is
also bain^ steadily derebped, the piiaengar reranasj
aheviag an increase in the late yesr of 1239,995 after
•alaereMe of till.SGS in the year preceding. Mr.
Wllbnr notes that vhilethe increase in 1896 wm partly
dae to the addel rolame of triflis obtained throuf;h
the ae({Direment of the Elmira Cortland dt Northern,
yet a oonsiderable portion of the gain was seoareii by
an aetire solicitation for bosinesa and by the improve-
aunt of the road's train sarrice. He also points out
that the ranning of the Black Diamond Express
between New York and Baff^lo, which was pat on in
May laat, haa prored to be eren more satisfactory ia
ita raralto than had been expected.
The oompany's aggregate groae earnings, after hav-
ing dropped from •18.610,777 in 1893 to tl 7,330,591
in 1894, hare ainoe then been steadily rising — increai-
ing first to $18,664,454 in 1895 and now to $19,514,660
in 1896, making them, we believe, the largest in the
ooBpany'a history. In the revenues from ooal the
ohugea have not been very important, the receipts in
18»4 baring been 18,391,542, in 1895 68,470.839 and
in 1896 18,638,574 ; bnt in the earnings from general
mtrehandiae the increase haa been from 15,982,857 in
18M to 67,472,104 in 1896. The improvement is the
wuut noteworthy since it haa been made in face of a
ravy oonaiderable decline in rataa. The average per
ton (per mile on ooal for 1896 at 6*46 mills was
only • little better than that for 1895 at 6-40
mills, and compares with 7*32 milla in 181U. In
the case of general freight the average waa only 4*80
miUa in 1896, against 5-34 mills in 1895 and 5-95 milla
in 1894. The deoreaae in this last instance in the two
years haa been nearly 20 per cent, while in coal the de-
cline haa been about 12 per cent. What an important
factor these declines in ratea have been is evident from
the statement in the report that the shrinkage of 0-31
aiUa in the average in 1896 for the whole tonnage
(ood and merchandiae combined) represents a loss in
faoooM in the large anm of 6900,000.
In brief then, it may be aaid that in the late
jMT mtat ware Tery low, the ooal trade failed to show
th* improrement expected, and all the industries of the
ooantry were in a state of extreme depression. About
Um only favorable factor was the heavy grain move-
■•Bt aa the raanlt of the large crops of 1895 and 1896,
and which was of advantage to the Lehigh Valley in
•welling the amount of ita through trafBo from Buffalo
to Naw York. Bearing on this latter point, we oh-
aerve that of the 692,961 inoreaae in the merchandise
tonnage in the late year, 628,365 tons was in the item
of grain. Toat, however, must not ba taken co ladi-
cate that the development haa been entirely in that
direction. As a matter of fact, though there were
some oonaiderable loaea in a few leading items owing
to t 
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