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Full text of "The Commercial and financial chronicle"

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I 




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<«. 



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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. 



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oImt Mid to plM* Ite rMdcr ia 

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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» 
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«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*.] 



^%ki. M/*%kt. 



ao4. 




Baptcmb'r. 
BUrkU ao 4. 8l(bt, M d. Sicbt. M d. Slilht. ' 



JalT. 



Aaanst. 



4«8M« - 
jut? 



82-SM MW-S 

~^,3 Mtft 



iU 4 

«ae 4W 

4W 4S» 

Bolldar- 

-8 

4*8 48» 

S. 4aB 4SII 
, ^^ 

4 ftt-S 841 
4 8MMii6 
..4 MM 84)24 
88M-S 4 SM 84)4-5 

M-^ 8»«M 4 Wt4 49'M 6-a)J «S-7)2 4 HS-3 B4S4 
*U2 »«: W«4 M^l^ ^8. 4>iM 84S4 

t»-8i] «»4iS W-W2 8B«S 4 8S-« 4 8S-7 4 tS^ 8IM4 
4 H 4 >«! 884bt8»-«S «4M-« 8M4-7 4 8S4 »Sit 
4n 4M ^. 4 liMMSS^r 4 81-3 84)24 

4 n 4 a» M-^ 8S-9W «SM-6W&4M S. 

W 8. W mZ SO-'U HSM44U4U 4 »H4 4 86 

-M 4 8« 4 M M-«2 8W-.42 uS-4 SMS 4 8SJ2-3 4 W 
488 488 BmSmS 8. 4St^86-M 

8i-«28Mi2 8a)i-4SM)4 




i *"*'«4 



482-8486 

4M-S486 
81W-3 MH-6 

81W-S>t »*4 

8. 
80M-8)i84.& 
80H-264-4M 



November. 
60 d. SUtbt. 

4 f«-ssH-«M 
Uolldmr. 

lO-as; &4JJ 

4 88-3 «»ti-1 

4 ni-3 %>«■« 

9. 
8SM-S)« 86-7 
8«S-*)28«-7 

»«-3)4«-e)4 

8aH-3M«-«K 

s. 

8»M-3W-«t4 
4i44 8««H 
4 8»-a88-«M 

(13-3)4 IMW-' 



W4-6f 
84)2-5 1 



4 84)4 4 88 
4 84)2 4 88 



i)t«)J7'7SJ ) 



(«! 

! «SX-*H 87-8 4 84-)j 
4 84-)( 



«|i||4««(4M 4S «•• 48* «M «f| 4M 4HW48aM4SP 4*0 4 8* 4M 484 4 86^4 84 4 88M 4 84M 4 88 4 36 4 8n< 
HS^ *0r^m^ *t9 4«l«488 «S tfi 4«M «ak 45^4 8rM4 8^ 4 83M4 84M 4at 4 84)2 4 80W 4 84 4Mlt 4 86 4 84 4 87^ 
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.] 
INM. 



itarABT raas'BT 



BAII.BOABtl. 
Aaa Ar**r 



lrM.Uiskt.n.UWk 



a jilt III! Ta*. A ». fr 
Vr. BM..all t*M. » 



■•h^O a.W.'i : 

r».(. - - 

klr> kl><*lr4 

•a. ■•«*. * niiea 



ny 8*M-«M« 



■ABOi. 
LrD*.ai(k 



in -176 

W • 10 

86 • tTH 



14>«-lff« 

H 14 t* Hi M- M 
U UH U U - •» 



■bt. <-. Baa. A llOTtk 
Caaa Waa feHB* 

»a«ia»ra 
' »•■»• A «la« 
Oaaeral al at«Jera#r 
eaMral ra><*> 
Biimi ik» A 4tkla 
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•He. BaH. 4k ««lac» 
<Ma.4k Bm irilB... 



u -u 



u 



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Ate. BIL Am. raal 



nn 



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4ah 



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•4- 10 



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fMf M : «i**- »4M 






u -int 



mt-n 






laM 



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61 - 



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6IM 



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u • u 

U«t- 17 



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wmm^iM 



U - It 

U ■ UH4 



1»H 
1»T - 



rtH- TtM, t*H- MM 7411 7*)« 
lOTl^lM iaN«-Uai4.U6H-U»M 
mM«MMNt-l04t^ IMN MtN 

iiiiiii«aiiiiiU7 lu 



167 



ivn. 



• - • 



JlTLT. 



AroriT. 



Uiw.lllcb 



Ix>w.Ulgb lA>w.UI(b Uiw.UtKb 



170 -170 
7)« 7)4 
to -»K 



13 - ir>)« luM- U)4 

U - £<Ki 16 - 90M 

M- M| M- M 

t«M- 18M I6)«- 18)i 



U el> 
66 -M 



« •« 



66 



6<w-«a)* 



«• - 61)il 4t - 4«H 



la61t-10B)4'iaSK I97h|l«n4-1M BTN-IOOVt 
14)i- 16 ItK- 1M4 
Vnt- mm! UX- 14H 

lit -uaMii<8M-u« 



8IM T*M-a(iM, 

41 41 - 41 

88 -«• 
•M- MM 

7iN-7BH 
•IM«|U«H-U8 
-I08M1M -108)4 
-I40 lu* -UO 



T»M 



•»t-7«X 
40N-4t 
90 - «0M 



- 7« 

BSW-101)4 
144 -14» 



SlPT'HIR. 



OCTOniR. N'or'BKK.' mr'BiB. 



ITH-tO 



8X- "H 
WM- IT)4 



»»«-tl 



lOH- 13H 



UM- UM V»«- U)t 



lOM- >0M 



66 • 67K 

40M-44M 

mt- 13)4 
II - 13)4 
140 -160 



63-88 

ITM-SBM 
M - M 
6 - 7H 

I«7)^II7« l«3J« 

hi\t- M 



17 - 17 



67-68 
43M-4eM 

MN-IM)4 
13W- itH 
13M- l«* 

ltOM-167 



80-20 



12 - 14*4 

a- )4 

ISH- 16)4 



100 -100 



4^4- 47M 



l^w Uliib U>w.IllBb 



10)<- lOH .... - ... 

«2 - M j 88 - 84 



1374- 18 
31IH-«7>4 

)*- I 
16H-1B 



toyi- 20H 
66-60 

67 -66M 
47M-61 



W -104)4|101 -110 
13M- 1394 i<U- KDt 



ISH- lOH 
164 -100 



«0)t- 71 
80 - 80 

isH- 78U 
IM -U»H 

86 -100 
146 -146 



111X1-18)4 
ISIM'IIM 



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 



UM- I4M 

8VM- taM 

M- K 

KM MM 



m- 3)4 
«»>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. 



fVoL. Li IV, 



tm* ro«rt « < i g«i. 







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M - MWj « - M I M -lOOWl M - W 

M - « I !• . nit wt- ooi« M - 00 

MM| MM- WN MW- Mwi " - MW 
.... - ... 100 -116 
I8W- TtW 00 -«0 



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I lOM- low 

M - 3SWi M - MN 



UN- ITHl » 
66 - OSN' 00 



U 
MM 



loow-ioow 

Ul -UOMJltl -160 



0IW- 02W' 01-06 

00 - 00 i.... - ... 
68-60 68 - WW 
2SM- lOw! MW- «0W 



»W- tw 

UM- 10 



UOMjlM 
M 




IN- WC *W- *H tW- 

•W- low; OH- I OM- 

u - iim:' uw- u u • 

r - 0M! »W- TN ow- 

6M«- M l< - 68N' tlM- 

l»W- ITW UM- 

TO - T*Ni «7M- 

T - T 6N- 

MM- aiN| TT . aMt nw- 



-tTW 



WW- 2»M 
80-80 



low- low 



It - IT 

10 - 22M 
SOW- 86 



WW- tT 



22W- 2aw 
T»W- 70M 



T - itM 10 - UM 

M - UM 22 - SIN 
116W-1I6 ilOe -117N 
lOOK-lOt 

00 - 0SM 

T«W- 81 

100 -lOB 
OW- MW 

SOW- 26 
80M- 0« 

M- IW 
TIN- 78N 

101 -101 



U0M-W8 



0ON-IOOW 

100W-IOOI« 
02N-06W 
20W- 36W 

t»N-67W 



MW 
T6M 



tW- 6W 
W- W 
W - II 



08 -lOlW 01 -lot 107 -Ul 

16 - 16 
... - ....| 68-60 
U - l« I 14 - 10 UM- UM 
IBM- 25M IIW- 88 M - WN 
83W- SdWl 88 - 0IN 88-88 
... - .... T - 7N tW- tM 
... - 60-80 .... - .... 



lOOM-lOt 


88 


01 


T«W 


80W 


101 


103 


low 


WW 


I0W- 


21 


86 - 


BIN 


70 - 


TTW 


106 - 


106 


ISO - 


IW 


iWN-i«W 


I0i9t-101M 


OlW- 


87 


20 - 


MM 



MM- t8M 



21W- S6M 

ai - n 



UW- 16W WW- 2tN 



tM- 6 tM- 6M 

H- IW' IW- SW 

WW- MMl 2IN- IMt 




-» 



<N- aw 
N- 1 

22W-I«t 



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 



-107J1 
-101 



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. 




«M. CM.*-!*** i 

K.A » I' !«•«»». "•» I 
I .... > .1 . IM. '(• S 








»* kUM I I 

a t«-^ IM« «-■■ - — I— • • •• 

, IMS f •« -!«• .. 



«:•••• 



BP M<.. I 

C^*la.DI>~ •••4 3 tWHMTH 
lUftVahaKtl-IMT « •»*-•• 
■ •a. A M. J.. <«■& • IM -UW* U« 
M*.* BMt'a IIHb*U- 

lai.a«kiB« raa4 am ii< 

iMtaaiil- ta'< • >' !" 

U—.m»n.. 1*4} » «M, i.<t 

B*«tM*r«4 A.... - 

C»l*.* ia.CIBr-lM.ft .... 



»( ■ - - ■ 

JtM IM { M -m Mmoi 

«,IM -IMH IM -IMI« fH >0i 

• ' 1.... - - ...»»• ->« 

4l MM- MN* MM- »M MM- MM »rW- M 
MM- MM, ••>« " ■ 



UT -lu :iiiN-tm( u«M uwt uiMiM 
iM««iartion«'iotHiM -xmn 



100 
IM 



lOlH 
lolH 
io« 




MM- KH. MM- »m 

.„ - . ..;us -tiTH 



Ui -IM us 

l« jot 



u«^ 

IMM 



MM'iw 
lotH-|0i(4l01 
104 -104 

M - MM 

M -MM 



•IM 



-MM 
-loiM 

-MX 



HM 



lITM-tlTM UTM-UBM 

I17M-U7M|UA -lUM 
IMM-IS&N lMM-i>T 
M -100 



mmI'mm-mm 



tm.r 

I al .eai^ K . U. I *Qrt 1 U3M IH 

iMl.AM. IH> Till lU IM -IM 1« -IMM) 

IM I * l>. Dl« ..».-. - - ... 

IMC-. *M. »l* .»M*«IM ... 
laa«.M.I»«4 .. « IM -l«»M UTM-tM 1» -IM 

IMl.AP. Kna* VIM -IM UV -IM .... 

lal l»^ Waal. INt •lU -tU IttM il5M »* -»4M 



•7M-100M 



lU -114 110 -114M|1UN-1U 

IW -lOSItlOl -101 lOlM-lOlM 

u - »7m! » - M 

or -101 I M - « 

10«M-106 I.... - ... 

M - »7 , M -MM 

00 - MM! fH- W 



-aoMjM 

-118M1U 



■84M 
lU 



MM-TM 
M - 87 
104 -103 
M -M 



M -MM 
104M-1UM 



110 -IIIM'III -111 
. 114 -ISSM 1S3M-125 



iMM-ioeM 

lOTM lOTM 
MM- MM 

lUM-114 



M 

>4 - 

WM- 
MN- 



- MM 

- 07 

M 
8»N 



M - MM MM- M 



to4M-i«rMiio'M->on< >M -><* v» -loe |io6m-io6u lotM-ioM 

.... - ....|U»M->*4m'.— .... lMM-l«7Mili7 -147 .... - ... 
t»H-*t7Hltr -I»7M14»M-1«»MU««-U»M'IS«M-IW llfM ISS 



lt»M-IM IM -IM 



U7 -U7 jllTM-lSSM ll^N-lU 

,1«7M-1«T»», 



1«TH-1M I04M l«W( 
■M I1M( >>»H->I»<* US 
... IttM-lMMilM 



IM IjaC. * Pa* 

IM a^ itlaa. Ilti » 

IM II. A p. PI* 1 

IMtt.* P. Pl« . . S .. ... , ... 

('Ma.APM.Mv •!.... ... lU -IM 

rM*. * nw. W. P»t • IM -lllMntM-ll*N»4 -IISM 

CkU. * «a. K. DU S 1041^ loav, 10M|-I0rs lon(-100t« 104M-110 

HIaaral ratal PI* A IMMIost* ... .... U&M-ll»Mia4 -104 

I.. Oar. Pl« 4 tSTS ic^W . ... loSH-los ia»M-110 

I Mia. m* . a l<SV| 1C0S l><"i >l> llt>4-nt(« .... 

4aal . a l«4 -IK HI -1I1«( IIXN-IU lUM llt)« 11«M-I1«M 



-121 
-ISO 
-12« 
111 



-1« 



100 



... 'l«4 

U4M-UBMl*0 -MIMJUt -laCMlSt 

.... - ...140 -ISSM 1»M-143«4 IM 

-1.4 'llM(-ll4 .... - .. Ill 

•111 I.... - ....'iMM 10OM103 

-iiT!« 117 -usHiw -UHM ua -lis 

-IMM.... - ■■■ 147M-1W |lM -120 

.... - ....I ... - .. l'>« -KI4 j ... - ........ 

II4M-I14 HTM I !.'''« il» -no .... - ....110 

114 -HIM IKM-IHH tliM-USM USM-USM 104 

104 -lU 108 -106M lOSM-lOi 

. .. - ........ - .... se - »8 

.... - .. . IOBM-10«M - .. 

Its -llSM 110 -UO lOS -10« 



8S -84M 
USM-U«M 



in -U3M 



MM- B7M 06M- 47 



103M-104 



M - M 



I0<M-104M 



.1 



144 -143 
144 -12S 



144 



1S& 

vnu'vtt -t2S 

....llSS -US 

io^;iooM-iii 



126 
13« 

I-.'. 

u 

Hi; 



-1S5 
-12«H 



lU -114 
104 -144 



1UM-It»4 



-100 
-lOlh 



44 -WH 



84M-84M 
114M-117M 



IM -104 

117M-118M 
104 -108 
•4 • 48 
100 -tOlJi 

44-48 
UM-44 



87«-i» 
118 -118 



1UM-11IM114 -11»« 

124 -124 124 -14M 

41 -lOIM M -104 
lOlM-lOlM ■ 



04 -too 



44M-4BM 



106 -106 

127 -127 |128M-U»i 
126MI26M .... - ■■.. 

128 -IM 128M-12SM 
. - ....|127M-1«T3« 



110 -IIOM 112M-113M lt3M-116 



104 -104M 



Dakao A l.l. ^a. ..A M4M-I44M ■ 
<Jra M. -'«" !••«. 4 M • M I 
". ■ - •. I .'IMA M • M I. 

V I M.iaiaa tu -lu 

t.^^. . ^■... 1*13 .•ll4M-tM 
CM». * liank«raai*a- | 

4..ICI». TUI -Ul 



. 107 -i(nM 

44M-44)4 



lUH-listt lUM-iUM tt««.ll7M tl7M'i>4M 



tu -UntUI -U7 



..t U4M-U4MI1I -114 U7M-I14 
T 114 .|iai»ii:H 1ITMII7 -lUM 



ia4M-t44N IM -IMN 14«([-1S8M 



..•U4 -tl4 



lis lis 
<lt4 -lU 
IW -III 



U4 114 



<n«M-tu 
•• llOM 
< lllM 



■4«kla( Iaa4.«— » 

Ba«»M«r»4 1 ... - ... 

•MakIa* Iaa4.aa«» .^'Ma -|m 

Ba««a«ara4. .. 
■ ■*i» l »t«». IPSJ 

Ba««MaTa4 
•a rra. «r*aa. IMP * IM 

P»Sl*t*ra4 il44 

••.f*ar4»k.. IMI a >«r 
Sataa. kaa«a, |»M « IM 

Ba«tM*rr4 4 ... 

Wmm ilUlaa4. IM. It tlT 

a.* U^ IM. .»>.... ... 

Mil. IM .. fua -IM ......... 148 -144 t«SM-l04M 

taamM^ (-•a»..tM •' 

W l a»aaA m. r. '44 T .... - .... w .\gt 

■Mm.* «a4.. IM .• U4 -Ua I 

Okcv.* w.r. lat.ai.... - . ..It 

B«.itu. iM. !•■• 4 IM -«« y. 

M.U ».* WT I M ..• i I • U4M IMH'ia(||-l44Mlta^4-UlM UIM 
ra««.«a» .l*«t. 4 ^ 

■a<.«ilai*.ikr... .*|tU -ua tu -lit U4M-U4M 

la>wva •'.... ...IM -104 

■Ua4uPI* . '- « 



-«i*M l<*M-l*M« 

-IM L.. - ... 

-laa I47M-U4 
-i«i .... - ... 



•U* 



.•.I. 



, A<«lla«a«al a IM 
4 loa 
(ara. irai 4 *■ 
•aafc. A tto* •«.. IM 1 
•.H.Ar.U.latal t; 
labt>«4 4 

CJM.I. * r. >~ ra < a. 
. Mla.A Om. 

,ipa« . piM 
uruk«.-iM • ... 

••.r.*M.OtV-lM PIM 
CMa. * fTaM. U4. - 

.i»3-4 PII4K 



IM -IM 

... ,U4 -tM 
IM M4 -MalkIM -MM 
loiM M H |Mtlil4l|4.KBS 
M • MIC M ■ MS 



mt 



1CI8>4'I0HI4 

•6M asM- »?)« 



UT -tlSM.US -114 



no 

104M 



114 -tu 

lOBM-lOO 

«4K-ae 

11»(-U8 
lis -US 

I48M-140 



104 -10« 
03M- M 



118 -114 
114 -U4 



lOS -lOOM 
104 -104 
OlM- M 



138 -IM ,120M-133M 
118M-U7M'UaM-117M 116 -117 
U« -114 .... - .. 



118 -114 1104-140 
117 -US URM-URM 

US -US ;.... - .. 

US -III lU -114 

IM -t0«M 1<)«M-108N lOeM-lOM 107 -10^ 

.... - .... 108 -10«M.. 

110M-111M108 -110 1104 -110M't07 -UO 

.... - ........ - ....100M-104M'.... - ... 

tM -107 'lOS -lOSM lOeM-107 'lOtM-108 

104 -104 1 104 -104 

148 -io«M|ioei4-ioo>i 100 -too 



144M-10IM 104M-102M 101 -104 



U4M-U8 



IM -IM 



104 -104 |.... - . 
tlSM-iismt4 -U4M1«4M-Ut 
lOSM I'-^M lot -104 106 -106 

...... 181 -tatHluo -140 

. .... 140 -U* 



4TMian«Li 

4* - M 



IM -tor 



UtiM-lwt 



IMM IM ;iM 

ifT trrM|l*r 



144M1M 
147 IM 



ia7w-i*rM|i4o -UO 

I'^<4 int t04M-lW 
''1 '10.1V4 lOlM-lOlM 
u« • l>7 04-4 

IM -104 104 •t04M 



ua IS -u> |U 



■irt IM -II 

14>M IfTM ItO 
IM ,IM -140 



M t44<(-tM 



IM -Uu 



luT -UT !u7 -117% 114 



S0M-1OS 

118 -114 
121 -121 
104M-t04M 



IM -106 



144 -127 
m -U4 
MM lOlM 
•0M lotM 
•0M-40M 
IM -IM 
64 - H 



UT -194 



144 -ItOM 



U4 -U4 



104M-104M 

iotM-i04K 

106 -104 
104 -106M 



144 -U4 



t0« -lOSM 



UO -UO 



UOM-121 
118 -118 
44M-08 

SOM- W 

too -too 



131>i-121)4 123 -1S4M 
101M-104M .... - ... 
lit -112 114 -U4 



108M-U2 
103 -104 
too -106 



111 -114 
106 -106 
104M-10BM 



108M-107M.107 -107 
108 -106 .... - ... 
... - ... lOSM'lOSM 
04-04 I 02 - 03M 



114 -lU 

181 -146 
U6M-117 
114 -118 



.U4M-U6M 



;tS4 
114 
114 



-136 

•U7 
■117 



I°8 -120 {ISO -U> 
^ -123 130M-133 
,-lI7H 118M-117M 
. ., -109 110 -UOM 
lUM-llTM lirM-llSM 
134 -127)4 IS7M-12TM 
106 -108 

ii8M-nn< 

lU -lt4MJ114M-U4M 
lOTM-llO 106 -104 



■i: 



-lU 
-112 



uoM-uaM 

112 -112M 



-106 iioe -100 



-SOM 



06M-07M. 



U4 -U8 



138 -140 



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 »»».. !•■»•■■• • 

.lM.a 4 



1^ -..«• 4 • •• I"" - -■ 

i^B^A M. iM^^a4<* • ■■■] ■• 



M- HN Ml -l«IM 

UT -iini iiTH-iwi 



MM-*tM 
IM -UMi'lMMItlH m -lU 

MM 



J I 



n • m» n 



ntt 111*- n 

» MM M 

M w -tnt 



.. 1 






MO -t« 
1I*M'»* 

« -• 



lOfW-tos 
MM-XXW 

lOTM-tOt 
I06M-106M 



UO -LM 



MN-M 



i-MTHIMlN-ICTH 



lUM-UJM 
U4 -lU 



101 -ian< 
ua -iim:ioMiU« luMW-tawt 

lUM-lW. 



MIt M 

' ....I.... 



106 -100 

liOH-lto 
•0 - m 



4V-4 

9d 4 ... 

Us*.* « >-.T.*».C. 
m*a. C»«>. v. I.. A ■. 
Ktec* I •. n. I •«. * 4< >• 

yaiaaa fcl !■*, awrt Oi 
|^k«l*WA W.-IM 4 111 tU :il4 4W*IU -IW tU -»T 
^7^ .. SIM -MIHM* -U* jM -too IMI4-I0SM 

■w«»l»kl..l«i.. *•• -Mi M«|.M» |Mt -MniMntlOM 

t . . »u -m 1... . Mm-ioTH 

9MM»I« IMMaOT ,t« -10* IO&^-106^ 

t n»H «»«»••■ ""'- '""« 

7 Ul lU lU^ ra<ll»J4lW -lU 

> iiuH'IU 111 . :iH-ns 

TIM -lU^lM livifk iivt, !■.■'>< IIOW-IM 
f 111 -lltM IW -II* II* -Hit* UWW-IM 
Ctm.*«>»H*€-. I>l » iiimu •• 

■.bM.(«>i it.-a* i ...lit -114 :.... - ....I.... - ... 

!.«*(.<>> luaas.4'. MH-IMIl .»■*»• ;i«*N-Mt ;iM -104 
L«k «.Trr.l««.IV«l tUI -tU ) 

L»i. Ai.A ra>. r»r.-*,iu -uaKjua -ut uin-iii%.ui -im 

LMtU HMkA M>«^ i 

IX. laSf. ir. r«« - .»!.... - .- 
t.*n l«<aB4- 

IM. IfWW. tMH|-IM< 

i«i. I. i«st . 4tin«-u* 

Vvvrt. IM. I*** .4t».-.. 
Ova. aM^„ I •><*... 4 M -M 
■ . V . * B. •..!•«.■• .... ... 

M.I»«MB« . ... 

■.«. B.* M. ■.. IM.4 IM -IM 

H. v.* M. B- tx > 100 -H4 

rklfs* ■•■.. IM ] .. ... 
LasU*. K>. A •>■. I,.- 

(^••a. 4*. Tr**t rr« .. 

tM*-|««««. i»«a, ...4 
I.— t»»l'l» A ■aakva- 

C— »tl4«M4 9 

CMMMaa BraMk T 

M.O.*M«fc~IM SIM -U* 

•4 • *r -•> 

■.H.* auk.. IM. ....... ... 

tl m»ntm«» ..• lU -IM 
>•■ Pl<. • ...... 

B(.l.OI<.. I«i.l»'il • . . 
■•■k. 4t Dvraiar- T ... 

rum. A All. IM «ii*aM-Mi 

•••tvar. aaU. I«a*4.. .. 

raia««. (au. !•«•. 4 ni4- ttm 

t'al. tra.i. ■„ lall. 4| 
L.A V.A «.* H . I m4H' 
Baak.ri.A«..lM.ta » 
■•.At Ha. Ala.caa.ca A 
ftMkC'aM^ IWtT .4 
.B^».4iCkta. 

jlus -lU lU -lUM 
daa^saU. l*i«. ~ 
a»» n at.«.. !••• 4 
Laala*. ■*.!..* Taa.- 
lM.aai4.iBi*. BtaK'tr 

ka<.-|-aa.. IBB* 4 tnt- MKJ if • iW|| •• • •«(: UM- *l 
. 4iO»H»M*« I 
IM ■■■I. Taaa llaa .»(.... 
■ » »M i » .Bto»a«.-IM.BIMIM» UTH-tU jlU -lUM liSM-ll* 



•tM-lMl* 
lUH-UMi 

TO - 7»H 

MM-M 



lUN-lUM 110M-U4 



IMM-l0niM4N-IO6M 

.... 106 -106 

UaUlM 114 -U* US -IW 

.... lOOW-IOOH 

.... UT -UT 

lU lU -UTN 

MiM-iontioo -100 
UO -lao .... 

UO -110 UO -UOM 
Ml -101 100 -100 
(Mt-looM.... . 

mt-a* TTM- 40 



MW 



I" 



M -M 
•0 - to 



M 



-MM 
106 -106M 
IIMM-IOIM 



UT -um 

100 -104M 
104 -UM 



Ui -141 



in«-68 
U4 -116M 



u«M-uaM 



101 -lOS 
108 -UO 
101 -101 
UU4-U6 



ia6M-l06H 

iin«-uo 

»1 - 01 
BSM- »i 



l«6M-t06H 



lie -lis 
lOOHiooH 



U6 -114 



*8W-100 

w -aoH 

Tt - mm TT - T»M 
lOIMlOl 101 -101 



. 00 



WM- »T»« 
114 -U4H 

or - or 
16M- IM* 
W - 06 



100 -106 

US -la 

UOM- 1 10)* 
U4 -118 



lu -u&w 



vr -loo 
ut -ut 



06 - W 
114 -114 
«««- «T 
14 - 1* 
47 - M 



104M-104M 

ua -114 



lU -114 

80 - »4M 

4TH-4IX 

UO -114 
•8-88 
100 -100 



UTM-UTMjlWi-llBW 
102H 1U«4 



lU -UT 

6T - 47 

to - to 

8tW-86 



41 

lU -114M 
08-00 

lOlM-lOUt 



104 -106M 



00 - OOH 
•1 - Kit 



lOT -107W 



loa -108 

USM-116H 
100 -100 
113 -us 
UtM-114W 



108 -108 IO0M-UO UOM-UOM 

108 -108M.... .... loemoo 

lin^lUMUT -117 

.... - ....1114 -lU 
108 -100 I.... - .. 



.... - .... 47 

.... - ... 'l08 -108 108 -10«< 

.... - .... 1W7 -108 

108 -114|*;100 -lUMilll -U4M 



US -U4 Ua)4-114M 

. - ....Ul -111% 
UaW-ltl)4{117M-ll«« 

;... - ....jUT -UT 

.... - .... 100 -100 

118 -11S)*I.... - ... 
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uvM-1 iu)« ; UOM-UOM 



88-01 
80 - OU 
10SW-108H 



119M-114 
86-80 
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UO -lUa 



118 -lU 
llSM-lltM,lO0W-lO8H'UO -110 
84t4-100 



B Illl4-Utlt!u4 -lUwl 

B M m otNJM o MMB jMi -un* m - mt\ oew-iooti mh-iooh 



11SM-1UM114 -lU 



8T 



now- 114 

. . , , 88 -enji 

7** TIH- T4J4! JO - 7»H 08 - TtX' 60-66 



MW-47M 



U8N-U8M 



USW-140M 



TH* T» - TaM 74 



m 



■ •I. lai. IM. IB4B 4 74 
HaaUaa Wailaaat- i 

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BMt -l«*MM7 isnt lOTtOIOTN 10714 108 106 -106)* 106»«-107)t 



114 -UTN 



8S -86 
<»<-Tl 



8TM-8TH 



MM 



1UM-U4 



88 -88 
80-80 



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88M-100 
UO -114 



86 -88)* 
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80-80 

104W-10tM 
T6 - 80 
40 - 46)4 



8W*- 88M 
Ul -113 



MM- 06 
8t - 88 

Tt - T6 



84-84 



TtM-SIM 
S8 - 40 



80-84 



118 -118 IWt-UIH 



liaM-uaM 



•-C-.4fcJi,' 



■.* B.-*»r.M.Aa.rJ 
lum. * ■>. I.a«la- 

IM »' 

IM. 'aa.. IB44.I 4 v-H W 
lava BaiaaMaa T 

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■aa«»w. >«t . IBI« t m«.|t«» 



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IM -IM 



7» T*)#- 7»M 



76 - 76 



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76 



TO 
B -40 
««- «4 



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lit -lit 



144 -104 
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88 -47 
US -US 



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41 -41 

mi- 40)* 

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108 -lOS 



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.... - ....lltl -Itl 



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mt-wt 

100 -101 

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66-74 

43-47 
MM 100 



46-60 

114 -UOM 

lotM-ioe 
lot -lot 

104M-104H 
108 -103)* 
us -123 



84M-UI0 



lOi -lOlM 
iis)«uaM 



100 -100 
84 - 84 

t8M- mtt 

101 -101 
U»M-ltT 

TO - Tl 
tl - t4M 

80 -87M 



46 - 48 

117 -U7M 
lot -lOtM 
10«*-10SM 



134 -IM 



U6M-U6H'1UM-U7 



UO -UO 
88 -88 
80 - 8t 



|104 -104 
118)4-180 



76-80 
88-88 



10 



104 -108M 



10)*.... - ... 
....i 8M- ON 



108 -104)*:i04M-105 
UO -U7H117 -us 



11«*-1U 



74 - 80M 
104 -104 



83 
80 



10«M-ia8 
83-83 
38 - M 



•»M 



8t - OSN 

ana- 87 

100 -lOOM 
86 - 88 
40 - 40 



84M-06M 



UTM-118 
103 -104M 
71N- 73 

4tM-4SM 

8-8 

1U)*-114N 



88 -101 
UO -UO 



lU)*-UtM 
U4M-UT 
108 -108 



lUM-lll)* 



86 - BT 
78M-80 



118)*-tI8)4 
10t)t-106 
71 - ™M 



8 - 8 



IMM-IU 
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 



-102H 
-105 

-lOOH 

-107 

-V&H 

- 79M 

- 80 



112 -112 
a6«-66J« 



127 -127 
IOOM'102 



187 -128 
,100M-108 
108 -108 



|128 

I 99 



-129M 120^-130^ 
■lOOM 99M-100X 



Il» -119 
107^-100 



<119 -120X119 
{119 -119KU9 



-119M 119X-180 
-119 |.... - ... 



;i0eM-106X 10SM-106HJ107 -107« 



107M-107M 106 -lOOX 106 -lOOM 106M-107 



109 
102 



-101 
■102 



136 -ua 



107 -109- 
88W- 90 



lOlN-lOS '10«H-iaSH 
10SM-102M|101!4-101)4 
ill -115 



81M- ■)< 

56 - eo 

76 - 78« 
70 - 71 
77X-77X 

91«-93 



103 -10«X 



7T - 83 
61 - 57 
73X- 78 



77 - 7T 



87M- 91 



78 
107 
60 
10 
102 



-81 
-107 

- 60 

- 16 
-103« 



lOlM-102 101X-10M< 
lOOX-lOOXlOO lOOM 



74 -79K 



118 -IISM 
65X-MM 



9eM- 99M 
6« - 77X 



117X-117M 



lis -uan 



130H 133 
100 -101 



isaH-iSfin 



107M-107X 



102N-102H 108^-103X ■ 



•I- 



i: 



100 -100 |.... - .. 
106 -10«mo6X-10« 
105M-106M 106M-106M 
IMX 106 -106 



101 



103M-106 



US -us 



UT -137 



108 -110 
89W-93M 



«9 -100 I W - MM 

76S1- 79 70X- 7» 
103 103M|106M-106M 

U6 -U6Jt|.... - , 
107«-107J« 



M - «D 



M - M 



67-67 



66 
66 



81-86 tan- 86 

113M-116)4>116!4-117M 
113 -116X 115M-U7 



lOlX-lOS 



108 -103X lOlX-lOlM I-O^X-IOIM 
103 -102 1100 -lOOJIi ■■•■ - 

.... - ... iiiaHi-ii2>»N««-u«« 
.... - .... uix-iuJum-mK 



Low.Hlgb 



76«- 
11 - 

60«- 



61 
61 
71« 



96-99 
97H-100>,i 



68 - 70H 



lis -IISX 



Sept'bkr 
Low.Hlgb 



78«- 
10 - 
67 - 



81X 
56« 
73 



OCTOBEB NOV'BER 
Low.Hlgb Low.Hlgb 



79«- 8l}« 
60X- 60X 
70 - 75X 



79X- 
99 - 



80« 



99X-100 



98 - 90X 
100 -lOOX 
100 -100 
100 -100 

60-75 



113H-U6 



ie7X-128M 
93 - 99M 



im<-117 
Ul -lUH 
104X105 
107 -107 



106M-10eX' lOfiX-lOOii 

106M-106 :i06x-ioa 

106X-l0aN|lO7 -107 



lie -U7Mlti6X-117 
' ....jlOS -103 
102X 103M 103 
102 



usavoH 

Vn -137 
119M-119W 

ueii-iio 

91 



MX- as 



86 

ua 



71X 



-aax 
-us 



U7K-U7X 



ua<-ii«x 

182 -136 
119 -119 
UBM-IOOM 
88H- 80 



VXSH 
102W 



120 -122X 






86 
65 
H8 
101 
86 
111 
105 



- 87 

- 66 
-71X 
-lOlX 
-87X 
-116 
-106 



78 

a6X 



100 106 



61 - 70 



SIX- S8X 
SIX- 37M 



79 - 
76X- 



12S -UDV 



|10eM-U2 
101 -106 

73X-80X 
71X- T7H 
S7X- 16 
38 -lUK 



76-81 
180 -123 



•6X-«8X 



UlX-118 
114X-113 



loax-iux 



7ax 

71 - 

11 
11 



- 71 

- 60 
-IBM 



61-66 



66 - «•)< 



U1X-U7V 
111X-U7X 



131 -131 

loex-iio 

S7X 88X 

86-98 

87 - 70 
70 - 70)i( 

103 -103 

88 - 88 
U3M-116 



106 -10^ 
101 -106 
106X-106X 

UW-118 

losM-ioix 



123 -123 
lUX-lUX 
106 -105 



132X122M 
U8 -116 

188 -13SX 

107 -107M 
87X. 88 

« -88X 
67X- 69 
68X- 70 
lOS -106 
86-86 
U6 -116 
103 -108 

U8K-188M 
Ul -111 



UO -lUX 



iaiX-105 
100 -lOlX 



126 
86 



■127X 
- 05 



1U2X-106 
101 -101 



nsH iloX-ii« 

113X-115X 
103X-103X 
102 -lOJM 



86X-88X 



83 
101 



- 86 
-101 



- 98 

- 99« 
-101 X 
-100 
■100 



99 
100 
100 
100 

72X- 76 



113«-115« 
62X- 66 



81X- 85X 
58 - 61J4 
75-70 



83 
100 



■8»X 
■103 



102 
100 



-102 
-lOOM 



97M-10O54 



73X-77X 



6SX- 88 



Decbeb. 



Low.Hlgb 



SOU- 83X 
50X- 605i 
72X- 72X 



70 - 70 



90 - 92X 



85 

103 



- 85 
-103 



100 -100 
102X-101X 

loiX-ioix 

lOOJl-lOm 

99X- »9H 
71 - 76 



67-88 



121X-126 
96-96 



99X- 99X 

101 -101)4 100 -100 

102 -102 103X101X 



UO -112 



100 -102X|1<W -101« 



100 -lOlM 



108M-103H 
100X-102« 



113 -113X 
131X-132X 
102 -107 



80 - SIM 
61 - 01 

ao -68K 
tOQ<-106 



68 -eejK 

68 - 6 
83X-83X 



87 -81X 



66-76 



122X-1S2J4 



109M-U6M 
llOX-116 

73X- 77 
76X- 76X 
17X- SIX 
17X- 61X 
18X-18X 

sex- 81 



70 - 71X 



t22X-122X 



116 
118 



■117X 
•117X 



90 -82N 

U6X-U7M 
Ul -U7H 

usx-uiM 



Ul -iiiM 

118X-116K 
71X- 76X 
18M-51 

90X-92X 

82-86 8SX- 86 
121 -121 

izwi-iisai .... - 



lU -116M 



71 -TS 



ua-to 



90-92 



106 -106 



99X-ia3X 



U6 -116 
Ul -lU 



127M-129 



103 -106 
82 - SIX 

82X- 81 
63-63 

•0 - esx 



108 -101 



ixnt-va 



lOOX 103N 



-lllX 
-129X 



106 -106 



80 -80 

llOK-111 
112 -113K 



107 -UOX 
60 - 67X 

ssx-ieii 

82X- 90X 



lOON-lU 
109 -111 



68 - a8x 



80X- 86 



106X-106X 
88-86 

•1-86 
61X- 68 
6»<- 60 

80 - 80 
109X-U1X 



116 -117 
116 -116 
103X-103X 



102X-106X 



-130 
-100 



U8 
116 



120 
■119 



103J<-106 



-130 
-100 



103 -lOlX 
102M-101 
108 -103 

116 -U6X 

lOlM-lOSX 



112X1 12X 
128X-132X 



107 
81 



-108 
- 86 



78-81 



U2X-111« 
lUM-lllX 



66 



11X-16N 



66 - 88X 



76 - 76 
U9 -120 



96-86 



106X-106X 
SIW-SIJI 
Ul -111 



103 

lot 



■103 
■101 



UO -Ul 
109M-110 

100 -100 

101 -106X 
101 -105)< 
103X10^ 

U6X-U7X 

ia2N-ioi 



136 -136X 
113 -US 
llOX-UOX 
86 - 90X 

100 -102X 



116 -116 
106X-106X 



80-8 

lll^-lUX 
il2XlUX 
109X-113 



106 -100 
86X- 89 
13X-18« 

86X-90X 

llOX-120 



67 
102 

90 
Ul 
103 



- 71X 
-103 

- 90 
-116X 
-103 



119 -121 
116X-U9X 
105 -108 
105 -105^ 

102 -102 

101X-101« 

10091-102 

1104(-110|i( 
lUX-lUX 

106X-107M 

losx-ioe 

105X-105X 
118X-118 



103X-101X 



136 -1S6X 
118 -119 
107 -106X 
88X-88M 

100X-103X 

78X 



71 

88 - 89X 
118X-US 



68X- 87 



67-88 
81-81 

IUX-118X 
113X-116 
U0X-U5X 
UO -UO 



70 - 7^ 



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. 



itM-evaiiBBML 



lUmem. 1 Aimit. 



)L*T. 



itrM. 



tM.HMk La«.lll«k !><>». BH> 



m.. »«»■»»< It • M IS* 



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Jmra. 
l«w.HI«k l«w.RI(k Low. Hick 



UFT'BBm. Octoan. 



KH BH ... 

Ml. n I lUA-M M -M ... - 

_ . ...... • ....I.... • ....'« -«• 






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41 



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INWl... tM -tMH Mii* l«H >MN lOMiiani'iM '»• •!«««< IMM-IW 

t . 1... - .... lU -111 ' 



l«.a*M.iBM ■■■»{ ... 

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•M««a* r*!.- t«« a ... 

.la* <-«.-t«l • M • M«i •■«■ MM. Ml- 



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M -MM 



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eMMl..«>M. l*a«.^M .M j«N-W j 
TraM t^»tptm I •■ . SMtf MW- MM 



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(M.i'aak'IV. Ii.rve ... 



4M IMM-UOM IMM-IU 




4.1 

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I m, !•!• . . 4 .. . .... 

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i«« •! 



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M -IMNtlM .«M 



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..^......a ,,,. ,,. , ><HIM IU>4I11MII5M-Iia llt*4.U4 

Bm.**). IMI iiL— '"»»«Uml4MIl« .lUMlU lUM-lM lU-U* 



MaM-ut 



IT - M 

H - atMi tni- M 



uaM4ia 



lUM-U* 



IM -Ml 
M -M 



r -I 



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UM- 17N 



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M -M 

iM -IM 

tt -M 

»r -44 



TOM-M 
U - 16 



a> -40 
n -s»< 



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ua -luw'uoM-uoM'uoM im< loe -im 

... - ....I M - M 

M - B»M aaM- f 



ao - M M 



97 



aiN M -64 
[ ItO -lUM 



lUM-lUM lUM lUM 
.'tllM lU jUOM'tU 

tiOM-iUMioa -io»M uoM noMiio -uihui -ui 

ll«M-ltl ilOVN-umtllOM-lU ... - . Ill -111 
tMW-u«M-— - ..■■;.... - ....'iiom-iioh'uom-uom 

....JMBM-ioaM iin»«-ia2^ 102 -102 

i.... - ....iui -lU 



llT -UT 

laaM-ucN 



■> -tioji'.... 



..I. 



UT -llT 



..'lU -ll»M 
'1UM-U4 



. U* -IM 



IMM-IMM 
U< -U4 
lot -lOtM 



1«T -107 



M -TIM 



loiM-iw 
iii -n 
nM-TiM 



IW -108 



tOIM-IOlM 



t»M MM- TtM' TTM- 80m! » - 80M 



M . aw mt- mm' »>h- aiH 
anc Ml ai^i- mm ia - « 



:r. 



MM- aiM, UM- aiM IT > um! u - ao I i«m- m 

UM- UM ... - ....|.... - - .. 

U • UMJ U - IT I UN- 1«4! 14M- 1^4 



I 



IN. • - a 



.... U4 -IM 
MM M -aXM. 



n -taM M •n 



M- M 
IN- IN 



ar -ai 

il -T4 



.1. 



mti T4M- Ta 



M 4^4- 40 



144 -ua 'lOOM-lOTM 



lUM-IU 



M -ai 
n -n 

T*N-TaM 
«i -u 

UM-44M 
... - .f.. 



U4 -IUM' 



T8 -80M 
•0 - M 

MM-t34|( 






M -M 



Tl - TT 



«««-8lH 



MM-100 
M -MM 

MM-*aM 



UO -101 



TaM-T»M 
too -lOtM 

'MM 



Ta - 80 



7S -76 



8M- 8M 
104 -100 

ao - ea 



106M-10TM 



106 -106 
10SM-103M 



1MM-1S«M 
(l6M-ii»4 

114 -U4 

loOM-iooH lOON-iooM 



87 -n 

80 -80 

mK-a?' 



U -taiM >U - IBM 



flOM- 1« 



U -fSOMtUM-U 



80N-80 
M -8tM 
74M-T8 



T4N-T7 



U . 47 

8 - a 



t » - UM 



80 -so 

M 'TIMJ 84 

MM-T4N 
40 -UM 



lOiM-iWM^ua -104M 

lU -lU 



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 -'•" 

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bMJMh LMJim 




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m -m MN«-uiMiM -m 



UN 



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m, >M» IMf Wm T4 

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■ • MM MM- MM 

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tut- M I «l - Ml* 



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■ •I. l«.T*l.-«.l .• .. - • ...IM -lU 

■ •rintarvk-IM • M •«• 

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rM*l«'*' Mm * C'«li»- 

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la<aMr«. *»t4. I»««J .... 
» — .» aal Iraa* Kr^ 

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BIrm. Iitv.. lal,M«.« m - n 
C l*.C'ar<««a Tr. rx. 

••« IM Ml.. aaU.-.«4 • w -« a*M-MN *• - u Hnt- *nt 
VM. LrMtkar l>*k.«.^.« U*)*-IUI«,U«M-1U UOM-UtM UIM-IUM 
W. I'alM T'l>«r«*k- I 

IN* »■■•••. fboi -UNii.... - ....lu» -uo 

••■iMatvA. { ...-..' 

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w.t-B.» r. »-»- iMa . • . "i^-Ti 1... -^ 

liUiiuUirBitfotiimevctxli^ngUsbAcwB i 



MM-WW,1M -lMltJ«M-U>M 



n 






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MM-IM 



JrLT. 



tom-looH 



IMM-lOU* 



IT ■ «tH ** 

U - UM 



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U -Ml 



■mt 



tM -ion* 

IM -107 

MU-lOO 
MH-n 



Acocm. 



BarTBi*. 



Uow.Ulch 



M -IMW 

in«- w 



100 -IMH 

ss 

10 



»n-mt 



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M . 

M -MH 

IM -106 

M -M 

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101M-10«M 
«TM- *o 

loti- im 



IM -IW 



BS - W 



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 



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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. 







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IMI 

,-UMi?.I> JK 

, ,T»ioi. r D -\*Si 

lit * 1,J. It»7 



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t». 



1«,U(.*D»T.. 

iMk V A IX. 7* 

» A rMM« Mr.. •• 



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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 



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x ^ V ce X o 

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t> © to*"-" *j'fcO &»*-j »-'*'©«-' ic p- 



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o 

lob 

«x 

ODGD 



xa 



10- 



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»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. 

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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 InconteataM* 
after two reara. Tbe are non-forfeltliw. prurldliia 
Kenetvllj for either paid-up poller nreileoded In- 
surance, at theopUnn nf the poller -huldtT. It Kive» 
ten daya of erace In payiueut of all ^retIl•QIus. ICa 
course durlDK the past Inrtr-Uve 7aara iibuadanilr 
demou4Lratea lis abaolutu security. 

Aet*V€a-aaueee*M/ulAgenU,M>Uhinf/ to rep. 

tvtent thU CotMpanif, may eommtinlenfe 

tcUh (Aa PrtstUtmt, at Ota Hrntm Otttrt, 

»et Broadieay, Krv Yorh. 

OKKICKRS" 

...'..''.. .Preaiaaai 

Hecretarr 

Aaslstanl Secretary 

ActuaiT 

* Caahlar 

,. Medical Director 

GBO. O. WII.I.IA.MS I'rost.Chem. Nat. Baak 

JOHN J. TUlKBIl ...BoUdar 

Pv !i JL''!."'.l5'?»,i"~ **»•*• •"»• * Tradara- Wat. B k 
JAMKK R, PUJM teatber 



UEUKU8 II. BURFOBD.. 

C. P. KHAI.KKIH 



A. WIIKr 
W.M. T. 
AltTIII I 
JOll.N r. 



•T... 



FIRHT- 
C 



1^'«« Agents Wanted 

by a riRST-ChASS COMPANY. 

LIBKRAL CONTRACTS 

DN KXCK LLBD POLICIES^ 

INCOKPOUATBO 1848 

Union Mutual 
Life InsuranceCompany, 

Porllaad, aialaa. 

AddrvM either: 
BDSO.N II. SOOKiai.n. 8npt..M William St.,N.T.atr 
THORNTON OH A8E.8upt..»4 Adams SUChlcagor. I 



A. Strassburger, 

STOCKS & BOKDS BROKEtt* 

BOnTIiailN INVKSTJIKNT SKCURITIBS 

Montgomery. Ala. 



THE WALL 8TREET JOURNAL 

GlTcaTalaablelnformaUuDdallron stocksaud bODd» 
Uarnr. IH>w,Jox(aACo.,ilBro*d8t,N. r 




nmmf 




Kiuhsratt 4ouar<liaic K> i.ct of 0<>agce4a, ia tbe year 1397, by the Williau B. DjlX^ OoXFAMr, In the offloe ot the Ubrarlan of OongTOM. 



VOL. 61. 



SATURDAY, JA^fUARY 9, 1897. 



NO. 1,646. 



PUBLISHED WEEKLY. 
PINE STREET. N. W. CORNER OF PEARL STREET. N. Y. 



OLEARINO HO USB RETURNS. 
For the month of December and the t twelve months the 
•zhibit is as follows : 



The week's total for &11 cities shows a los of 17 -9 per cent 

from 1896. The decrease from 1895 is 9'9 per cent and the 

decline from 1894 is 7'S per cent. Outside of New York tbe 

' decrease compared with 1896 is 17'0 per cent, the loss from 1896 

is 13-6 per cent, and the decrease from 1894 reaches 13-4 per ot. 



««w Tort. ... 
PBIIadalpnl*. 

PlttabarK 

Baltimore — 

Bnffalo 

WaahlnfftOD.. 
Boohear^r . . 
IrrsoaM... 
8«ranton . .. 
Wllmlnffton 
BtnKhamton 
Total Middle 



Boiton 

ProTldenoa.. 

Banrord... 

Haw Haran 



Dtceniber. 



1890. 



iSSS. 



2.a^8.l>3s>.0 Hli 2,IKIB.HS2.(» I 



Bprlncflald . 
Woroaater.... 

Portland 

rail RlTer 

l/owail 

Haw Badfortf. 
Toul N. ana 

Cmaaco 

Oloolnnatl 

Oatrolt- 

OlaTaland 

Mllwankaa.... 

Colambna 

iBdlanapolla.. 

Paorla 

yraod Baolda. 
UTintrton ... 
Balamaxoo.... 

Akron. 

BarCitr 

Boekfnrd 

|pnii«fleld....i 
Canton 



<ll,K88.6ia 

7.oe 1.03a 

«.»J9.a73 

t.'i^,as» 
8.71i.iei 
1.2.7..*iin 



ny.DSS.iwi 

82,»48.tKI0 
2I.5;3,»<S 

8iii8.iai 

7.3»\0«8 

s.Ht.o;i 

3.78M,856 
S.UI-l,iS< 
1,^3!/n0 



S.01)«O;7.7)« 

122.211.1.320 

■-■ '.ims.woo 

B.ii;.i.i2 

'.«7».>8> 

e.n'i,t.is 

5.'J2»,6.'2 
< 778.20!! 
2.M;.i't7 
2 «1S.8M 



48»,U3.yMI 

39.V8I.2)I 
S3.W4.lO'> 
2\MI.<07 
M nJS.aia 
ls,038.l«7 
le.7<U.8'iu 
SIIU.VK 
6.1*7".*^ 
H.21I.J 
1.3 irt.iAiw 

i.iiv,t;h 
i.oaa.ino 

n78.632 
7ill.0.M< 



S.48S,|IU.84& 

422,nai,s87 

ai,03l.lu.> 
lO.fllO.OIIU 
8.041,280 
B,U«,IIM 
S.lMO.e 1 

s.fMa.fO) 

• .7C8,4S3 
3.ICJB.774 

ii.2t2.oia 



rot.M.Waat.' IMO,7iio.i.'>u 



Un rraooitao. 
It LakeCltr 

Portland 

U» Antrelaa 

Hal ana 

Taeooa , 

Saattla 

Spokane , 

Pareo 

Bloozralla... 
Total Paeige 

Caoaaa Cttf. 
Minnaapnlla.. 
Oauaa.. 
■t. Paul... 
DattTir.. 
•t. Joaepb .. 
Dea Molnea 
■loaz CltT .. 

Llaaoln 

WiektU 



-irt 
-8-* 
+S-I 
-12-1 

-in 
-rv 

-18- 
+iri 
-u» 

-I6'S 



riwln VontJU. 



1896. 



t8jj70.77S.nB8 



isas. 



p.ct. 



W.8I'.7««»« 



3.161.770.838 3,'S6.1«l.l2 



-V6 

-002 

7-« 

—11-2 

—\<nt 

-18-4 
-1-8 

•rs-i 

«-l'6 

II 



74»,4S9.I90 
72n.(»l(.87l 
2I9.3-S.84l 
9lt.«t8..<>n0 
:8.«3'!,721 
<V.TS1.P»2 
JM71.S21 
S«,9e'l.l77 

H'.ms.3oo 



34,036 2«S.2'sct 



4,4«e.t24,aM 4,7S7,«8«.6«I 



-l-| 



-8-1 
— IT 
-4-« 



4Vi,4tU,<37 

41l)..<g8.l(l8 
SS.CA2,4&l 
29.814-07 
27.<35,.13U 
•.i2.«77.B8l — 1»0 
l6.')7l.2U0 1-5-8 
IO.H7.0.m -»» 
S,0U.70.|— Ism 
3.8«.9'«4l — ir7 
t.»52.3-2 -SJ-l 
1.'/X1.SISI -Ki 
l,37d.ii«< -2J1( 
l,'>ll.lSll -19 

v2e,ae7 — 1«'« 

8S;,HB2 —JO 7 
8|II.I<4I -ir7 



2 8.281.«<i0 
1I>',S82.2S« 
78,44 1. 811 
87.8rte.2S* 
'.0.S>>S,I62 
84.0J-1.44A 

4^.si.\g8ft 

31.<'53 00a 
2!'.«:)7.i3» 



Praaont 

Baatlon 

ToL otb'r W. 

Sc Loaia. .._.. 
(taw Orlaaoa.. 

UoaliTllle 

Oalraaton 

Hoaatoo 

Sevan nab. 
Blobmood .... 

Maaonia.. 

Atlanta 

Oallai .... 
Ifaahriila. . 

NorfoU 

Waoo 

Port Worth... 

Anxutta 

Blrminirbaoa. ■ 
Little Rook... 
JaoKaonTllla.. 
Obattanooira. 

Total Sob th. 

PMalall .... 
Oatatde H. r 

Montreal 

Toronto , 

Ballfax 

Winnloev 

liamllton. 
T-x ■-— «da 



8I.H3i1.7wl 
M.i-K i;« 
'i.nt.'i.t;? 
«.'MI-.8n: 
».'ii8.-3J 
I.OS>,l7il 
2,!lil8.430 
«,l'0L7:a 
S38.7b2 
2I0.I<8 



93,Sc8.lM 

S0.0.1B.900 
4I.8III.M2 
17.1(8.41/ 
20.311. 102 
II.J04,IH7 
8.7I4.^81 
l,UJj,48u 
2.2<l.lNlS 
l.;i.7,M8 
1.431,494 
t,4«l,>4j| 

ao«,S7i 

3»il t.tl 



Slie,6b4 Itsl - 

".ii.'i.i •»+'»■» 
...•-■1..^' tl-i-2.1-3 
".lll."S3,— •'•« 

2.rtti.4'». "•■'■• 
2..'H.',l;7|-12-» 

^.UK.lUt) t4>\> 
SI7,'8j| +^^ 
4Hn om'— Sri 



ll)».4ja.8 > 

11?.9)I.:I7H 
^^.M9.0l; 
2<,'M<.4;3 
I8 9l8.'0ili 
14.4'l4.ull| 
13.441 MM'i 
ll.'3«.2'8i 
1 1.0 II.1HI1I 
5.60rt.6l7l 
7.)0Vi9 
4 7i8»i0 

S.l)S8,og8 
3,&27,447 
l.lJ'I.SSi 
I,»I4,3« 
2.02 .l«» 
1.0X1 8l7 
1.118 1 



92.<>u...,<^i ri'a 

17,08 ■.310 +83 
11.81.1 4'WI -0 4 
19. •I).t,.'29 -I1'7 
aa.'l ^.oO.I — IS'B 
12.450. -MlJi-IUS 
8.1tl,<K>i rira 
<.1.1 1.074 +ll'l 
«.9H««<,-afc 
Li>l2)«M -Tl 
».I!U.8"1»— Iti- 
2.l8<.«li -HJO 
274.wjlrl0-l 

I84.7S<>,<.4 -2-. 



»,2>l,20).ov7 

4,4IS.0S4,I0S 

3SS,9&4,<Si> 

30<l.il3/l.l30 

«9l',.'>97,i7iJ 

230.818,183 

l:!s2IS2~' 

102,438.8 .7 

88,47«.OOS 

3a,01S,»M 

lS.li'8723 

M.7;S.I8H 

12.949,8 !9 

U,3 «,>2it 

10 MO.tlT 

»,72l.0») 

H.7V2 717 



744.110,281' 
89S.7n7.2M' 
222.279.IM4 
»8,w*).S85 
IHI.»<7,S'j 
»2,ei-,K47 
Sv.O -2.214 
37.1178, loll 
17.7 0I.U00 ' 

35.S8i,-.»tt,4l.! 



280 8l«,7ll0 
llR.S8a,»91 
78,ll8.<t 1 
7S.4S.'<,88<I 
88«»,»4i 
0S,l,0<,d2t 
4M48 3S1 
3>.5-7.&»4 
22,r»0.2<K 



-3-8 
-11-1 
-01 

+3-5 
—13 
-l-l 
-2-2 
-b-t 
+»•? 
-.17 

—■r-7 



-6-1 

-9 7 
— o*l 
-2-1 

-107 
+2-9 

+ 1-1) 
•f3-0 
--•6 
■•51 



ClaaHiifa at— 



New 7ora. , 

Philadelphia 

Pltuborg 

Baltimore 

Bunaio 

WaabtDgton 

Booheetar. 

Srraouae 

8oraDtoa..„ 

Wllminictoil.. 

Blngbaoton 

Total Middle.... 



a,314,7a7.XM 

8-M.2?9.C9v 
•I8.S04.71I> 
8i.l 18.895 
S;.28ii.8<S 
27.91 1.S7.- 
27,081.9 9 
2M17.IMA 
».•■.. .02. l^A 
SlW.'.lOS 
3.81 ••.« 



S.S4l,w<,i> 

4,8t4.P7R.203| 

esl.28IO>0 

S23.&21218 

2W8 '95,lwH 

2UI.4n8.«tO 

183 ISI..IU 

TSiSINUl.* 

101.2-S..'U< 

4.1.«»<>.2lt 

1H,18B.M% 

18.829.110 

13,t2l.37K 

1S.I')1.4I2 

toSMSVS 

9.I»«.3«A 

9.2 U.«- 1 



80».70n,jl4 



4.-07.8tl «U7 



2.0.>l.dt.'2.U8 

si,o8aioii 
3M«nr/7 

S,647.7iX> 
7.7)tH,B4i 
SOI nil. 



lOkl,' H.'S 
4n,387.ni3l 
27..<S 1,928 
14.84 ,5-^ 
I4.twe.2>4 
H.l'2i7d1 
110a.S4BS 
10.708 U J 
;.-)«1.7Sf 
••.•8i>.12B 
4 S-M tA'i 
Xlt'-PSS 
i.lV.tMb 
3, ••8,<S2 
3,49 '.S.10 
2.05 1.4 <» 
t,t2'<,23S 
1.2 '8.SI8 
I.l49.r8l 



301. 8 1 HI 
>,07j37^.r<l 
2,l8',48V97 

SI.IHB 

»»,72'<.4lM 

S,l'l2,''l3i 

8.84U.4ltl 

8,«2I,81I 



+3-1 
-10 
-t-i-8 
MSJ 
— I' 
—r9 
rlS 
+n 
— i-s 
fl9 2 

■n-4 

97 

-l-ei-B 

n7-a 

-H8-8 

4-2 
-t-»2-2 

-I'l-I 

-0» 

■+n; 

-7 2 



9y2.iS4J.«61 

M3.79«,R18 

3U1.U8',.87« 

210. 111.328 

2«.87\H13 

I2l,iia8.«l8 

8M4S,24I 

49,588,618 

2l.995.80K 

lS.»98,d 4 

19.917.179 

21,1.8.580 

K,1<0.7M 

1I.M02 07? 



8.8 11, 7 7 ».»>.> 

8fl2,07l'.210 
83.7:4.914 
b9,T0-4.1v 
e2.4<3.<WI 
X.',585 2l7 
98,4<ll,774 
2S.89I.15; 
20.089.738 
7.-7tf.9fl4 
3.551 144 

»93.2 2,1 J 



-4« 

-1' -J 
-7-3 
+<)-2 
-6-3 
—13 

+30 •• 

-H« 
— .-H 

-169 
-fll 
-.•f4 

-S3-4 
-3 1 
— l-H 
-SI 



— • 3 

-1 :) 

+7-5 

+ !■:> 
-8i 
— rn 
-r« 
'»it 

+l"-4 

-I-74 



52 .8;i,4<2 

37.".-0.->.344 

I9l.lil.l92 

222.3 12 180 

13i.'<2<.ll!t4 -12 6 
«9.«>lrt,0 M — il' I 
6.H.0 5.i>ii3 -)-6 



— 1 

-3-3 
•-54 
+9-9 



lOo.filR » .. IS 19M01 



-»» 

-5-7 
-17 
-H-8 
-flS-S 
-6-4 



•••« 



1.875.«1.,IKK1 

1.158,8 2,359 
48'1..'iSA.6IO 
2->«.JI»7.'43 
l31.0il,3lH 
■ ■...212,580 
l2S.^8l,7t4 
i I4,37'«.9I2 
|.«."9i.2;s 
8^,0211,0 It 

49.394.' 51 
5'l,3u7.ltn 
42.14 H.rH 6 
X.'<.105.S37 
ail. 1 43.3 1» 
2il.Q9i,8'l4 
I8.4 7«.a*l 
18 985,4a9 
U.M1.-70 



28.0«.II'i 
lH.a76 ••« 
22.2.4.111 
22,778..-.04 
3 251.870 
8.1l4.:l7i 



S .."*! 3f>4.7ul 
•1.1 75. I>'.77.t 



i.ae;.s2/,3i8 

1.211.313.893 

487.9I8.IHI 

ali.o'o.i'j" 
lj5.77S."fl7 

ir.4i;.'275 
124. 10-, ut 

I21.M)0,8'I9 
M,t37.« 
8>.3IH,25) 
n4.5V5.5Kj 

48*47,;2> 
• 0.701, 'Ml 
4-».4'l7.684 
!M.«9 <.5J0 
31.31 17.7<8 
2 .■'4l.'21i:) 
lJ.2'l2.70rt 
1«.20;.2 0' 
12.218.8111 



-110 
—151 
-Wh 

-Tl) 
-3 4 
-H)-< 



-69 
— I'l 

— u-o 

-3-5 
-■i-t, 
+ 1-1 

+8-a 

+ •■7 
+ 2 'I 
-t-l'l 
— 0-M 
H 1 
-Ui 
1-21 -H 
-•■:)■.■ 
—12 
-13-7 
+ 1-8 



Boston 

Prorldenoe 

lUrtfurd 

New lluTen. 

SpnnKtleld 

Worcoater 

Portland 

Pall Rlrar 

Lowell 

New Bedford 

Total New Bas.. 

Cbioaco 

Cln<»aaatl 

Detroit 

Clereland 

Milwaakee 

Golumbaa 

Indlanapolla 

Peoria 

Toledo ... 

Grand BapMa .... 

DaytoD .. 

Lezlaaton 

Kalamatoo 

Akron .... 

Bar CItr 

Rockford 

Sprlnaflald, Ohio.. 

Canton 

Tot Mid. Weafr 

San Praaeiaaa 

Salt LakeCltr 

Portlaod 

Loa Angolea.... . 

Helena 

Taooma 

Seattle 

Spokane 

Panto 

Sloni Palla 

Total Paelfla.... 

Kaoaaa City 

Minneapolla 

Ooaba. 

St. Paul 

OenTer 

Darenport 

St. Joaeph 

DeaMoloea 

8loax CltT 

Lincoln 

Wloblta 

Topeka. 

Precaont 

Haatlnn 

Tot. otber Weat 



3.0.11.181.1 5 -4 S 



53.2i«27i. 27i 



2')JI04 478.717 

.'27.'<ir<OI1 

34/.0'l.-ftl 

8l.23;.tOHl 

e<.l|i4<8 

:< '.753 881 



"27 ■ 



>3,l40,43l.tt''3| —4 8 

681.117.291 -0-5 
3oH..' 3^.04 *U-I"M 
ll.K.M.ii'il +01 
55.8-4.S4'llfl4 8 
H4.'i;7,-I8 -1-5 



I, 42 4. (102 -I H 



SULoma 

NewOrleana 

Loulsrille .... 

OalTeston..., 

(loaston 

Sarannata 

Rlcbmon^.... .... 

.Mempbia 

Atlanta. 

DaliHa 

NanhTille 

Norfolk. 

Waoo 

Port Wortb 

Anirnata 

Blrmlntrham...., 

KnoxTllle 

Little ttook 

XaokionTllle .. 
Cbatt anooaa 
Total Sonthera. 

ToUl all 

Oatald* N, Vork 



■ "•' »■•*•• «i ataariaaa kf iale«raab ••• fas* ttX. 



Montreal., 
Toronto . 

Rallf.. 
Wlnnlt»< 
IT»iiil'r.on, 
Bt.John*., 
I'ota ilaiiita 



,.,,. 



W«k mHn§ .Tanuary 2. 



1897. 

526,331,486 
52Ji75. 147 
12.181,487 
12,6s7,526 
3.31 1.175 
1.34e.~a4 
1.280,0 « 
8U.i2« 

sse,7»« 

«uO.!IO< 
«M»,SOO 



811,114.896 

95.372 422 
5,.13;,h00 
2.8 2,402 
1 318.V3; 
1,422.0811 
l,'3l>.0<'3 
t,S£0 8;s 
1.132.114 
8«8.426 
83 0,932 

111.853,779 

72.S80.8Bt 

10.Stl.H5u 

4,958.004 

S.161,818 

3.a«o.S4S 

3, 08 7011 

l.8«7.(i07 

t.4(/8.35il 

1.252.868 

873.120 

470.439 

27.%2«2 

238 985 

258 20U 

IS> 1^000 

152.088 

189 244 

127.9/2 



108.«36 187 

U 088 338 
1.111,801 
1,294,083 
765.302 
476 808 
,'^00,000 
37a,000 
536 9^0 
80 000 
50 000 



17,56 JUt84 

9.408.808 

8,780,1-S 

3,598 853 

3,904,081 

3.090,111 

447.228 

1.210. 108 

ll'27.875 

344.149 

351.248 

293,2j2 

33r.0OO 

«7ni'0 

••8.000 



2» ,898.735 

21,352.815 

11.637.861 

S,i!V4.313 

2,100.000 

2,401.328 

2 247.488 

1.974 131 

1,710.624 

UOV.SM 

1,8(10,0 ^) 

874 .848 

8ilS,«a8 

7S«,a«l> 

SUi'OOO 

7v0,B75 

!l6l,t90 

339.010 

311.221 

213 477 

176 000 



68.»69 024 



1898 



MS.072.8<9 

8l,S48.2'^8 

15,004.876 

15,609.415 

3.«S7,9<4 

1,82'J.>62 

1,830,081 

1,047.360 

877,739 

878.077 

338.800 



787.929.230 

103.281.249 
0.878.70 
3.766,822 
1,771 19j 
1,882 V8( 
1.608,705 
1.408,248 
1,0(0.375 
709,680 
473.(.8> 



18v7. 
P. OaiK 



122.875.023, 

90.dSt,156 
ll,7«9 4il'> 
8,230,833 
6,983,148 
4 324,113 
3.064,500 
2.221,025 

l,l>2.^es8 

1.287.5CI 
C'40.221 
843,981 
381.914 
277.L-_ 
257.80U 
192.838 
181.412 
249.87' 
lae.0'-8 



180 159,248 

13.440.025 

1,V6I.562 

1 980,91 

1.143.282 

826.04O 

477.HV2 

425.0JO 

363,18't 

410,218 

M.iai 



-18 6 
-36-t, 
-19 1 
-10 6 
-18-7 
-26-4 
-301 
-221 
-2-2 
-31-4 
-229 
—204 



-7-7 
-20 4 
-25 
-25 8 
-16-4 

+81 
— lOO 

+8 8 

81 

■tS3-4 

-8-8 



13V5. 

861.487.193 

73.238. 3-1 

12.S0B.164 

17,242,462 

S.817.759 

1.W1K.82I 

1.842,817 

1.031,616 

697 887 

7ei.7l<S 

374,300 



876.993.813 

S8.§S8.S<8 

6.058 8u0 

»,"!I9 703 

1.181.706 

1.726.6^9 

14:15.811 

1.850.010 

981,460 

691.477 

H 3.697 



-20 
-12 8 
-20 4 
-13-0 
-11-7 

+17 
-160 

-8-0 

-12 
— 199 
-28 9 
-27 9 
-14-2 

tU2 

-222 

SB 

44 3 
-14 2 



20.03* 2ll 

».72«.4tO 
7 828.908 
4.2V7.91S 

4,2;6.5va 

l,l<8l,9MI 

1,251,872 

1.660,nou 

903,613 

6;9.6ir 

470.001 

881,882 

480.208 

58.906 

71,649 



84.188,173 

2S.3«2.874 

11.72.1968 

6 058515 

2.7f8 717 

2.192,497 

2.54a,8'3 

2.710.154 

2,:5».4''2 

l,9«S.-.8,« 

1,18:1.414 

1,152.804 

985.1114 

831.308 

635.067 

444.70i 

4>4,372 

4'2'',S10 

S'0,015 

2H0.388 

:)05,*i6u 



-17-9 

-10 2 
— 17 2 

-5 2 
-88 9 
-23 9 

37'2 
-11-8 
f'40 
-61 9 
-24-4 



-l2-d 

-1-3 

-7-0 
-18 3 

-8 7 
-«7 6 
-«4-8 
-12-1 

+-i8 
-40-8 
— 24-6 
-23-2 
-23-9 
^-17 9 

-7-9 



82.967,212 



931,025,78 s 1.I3:,66!'.U5 



408,894 319 492.58i,858 



0.5 0,(109 
1.18^.958 
1,131 4SS 
1,351,819 
71Q437 
500.000 



ia *n*,r>02 



9.7<12,f2'4 
8,Hl'6 0il7 
l.214.ft2S 
1.85 ',.'*:17 
793.3'2U 



-12-1 

-87 
—1-6 
-12-6 
-142 
-108 
-116 
-27-2 
-24- 
-21-8 
+11 7 
-24-1 
-122 
+24-8 
-21-8 
+77 8 
-28 
-210 
-»0 
— •23l» 
—12 8 



116.717.683 

88,126 331 
l> 385 480 
8 158.422 
5.522,8X9 
4.989,874 
3.352 MO 
l,24MrO 
1,703.807 

87«.Y2i 

890.210 
246,025 
191.2V3 
'114.0110 
177.811 
209.904 

181,145 

126.982 801 

11.227.384 

I, f 8.1.8' 

1 2.^0.01)0 

1,143,851 

801.742 

888,884 

398,943 

335.532 

183,431 

5s3i:9 



17.170.116 

9.421.195 
5.974,684 
3.87 2 623 
4.S7H.767 
2,396.737 

I,8'U,046 
1.08l<,71>8 
5I>4,974 
018.493 
514 892 
625,78C 
74.9-7 
88.821' 



»l.44^.0'n 



-17-9 

-170 

-2-7 
-27 
-8-7 
+"-S 
-9-8 



3l',928.eSl 

27.801814 

18.8(18.280 

8.411.648 

SiSI. 8,487 

3,! 82.844 

8 442 410 

2.783.856 

1,8 9.959 

1.429.276 

1,071I.SI'3 

1.327.797 

98 >,5g5 

805. OkS 

7110 000 

400,582 

308,964 

870 8911 
«8i,867 
800.0.0 



07,;;6,i2; 

1,03I',50?.1I11 



473.016,8(8 

g 839,fCi 
6.794 06» 
1,1I4.S21 

l,J3<.4r,8 
768,7611 



1884. 



640.«88,0CS 

a7,8O0,0«t 

1»!1>7,«1« 

16.961,»38 

3,(09,048 

1.816,l«e 

I.OSI'.BSS 

«,1S7,501 

699,572 

749 806 

387. SO* 



040.768.197 

111.854,262 

8.978,000 

3,579,876 

1,838.173 

1,8:1091 

1, 168,886 

1,498.572 

978,883 

e40.<76 

4e2,«6» 



129,873,2«7 

88,688,378 
l3.1S0,tCO 
6,078,221 
4,1^3,074 
3,916,743 
3,621,800 
1,419,621 
1,885.1(0 

850,087 

48t,M2 
31^000 

ieo,io4 

898,879 

148,438 

228,390 

140,684 



125,254.526 

11.899,007 

1.073.671 

1,200.000 

l,000,t-14 

305.167 

502,938 

633.144 

360.000 

135,C00 

133,0 60 

17.398^067 

8,787.826 
0.274.63( 
4,484,168 
3 248,279 
2,470,000 

1,498109 
1.027.224 
771.287 
701.583 
451.337 
440.590 
89 147 
70,00* 



80.719,548 

14,412,770 

13,069,888 

0,410.648 

2,961,807 

2,791.468 

8.218.976 

2.700.000 

1,970,061 

1.468,781 

1,021,248 

1,099,087 

981 ,4 1« 

6SO,0«« 

700,000 

337.49* 



469 405 
810.976 



03,«S4,492 
1.012.691.888 



471,708,380 

9 325.948 
6.179.499 
1 299.1 67 
1.I153>'6 
868.968 



— 1«ll 18.794 «n» 



'MetlDoludedlB totair. 



1« 177.18 



64 



THB (;HROmCLR 



fvou Lxnr. 




nt nirANcuL airuirioy. 

TW paUte ■ib4 hM bMO fr««d thb wMk in Urge 
fro* * 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. 



«f M«h JMT dam 1878. It OOTrn lb* 
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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. 



kMk of H«* (or nfulan «ad 
kUiM eal do«a proiMttoa <M*>tbird. 



i 


U.C 1 


U8*. 


1 


s§ 


s 


s 


1 






B 




!2i. 


i 


Sii 


■rA 


ta#t 




g 


1 


B 








V*i" 


■■»■%* 




^ 


R 


•;r 






^ M 


• 1* 




S5: 






gS 


g 






i 






6% 

A.. 
8% 




81* 

■»»;■' 




^* 


i 


>^ 


8 


•% 


»• 


•% 


S** 


8>« 




' 


S 


I 


: 


ft* 


Si: 




s:: 






1 


B 




• 

1 


• 




'«<it 


8% 

.M .. 
8% 


8<« 


»«4 




1 


a 


IS 


i 
• 


1 




8 
8 
8 


IS 


i5 

»«4 


6>4 

5> 








..c . 






a 


8% 


»•• 


&■« 




1% 


•*!• 


»<* 


• 


• 


TS 


8 


*> 


SI* 


•>• 




R 


•*^« 


•s 


• 


• 






..A.. 


..•• - 


•• ..•• 




k 


•^ 


..a.. 


I 


» 
• 


;^ 


8 
8 


:S 


8lt 
5<t 


s:: 




M MM 




*•• ** 




•f," 


• 


»% 


?*• 


J** 




MMt.** 




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ri 


• 


5% 


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SKl 




^■Um 


t<a 


••« 


t 


• 


Tt 


8 


6% 


Bl* 


5»« 




^Uu 


ts 


•«« 


8 




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IS » 


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8 8 


5% 


ftl4 


8«« 




Mtf M8 prtWIj lor •»Mtln<« ki'd 
m^HbI 10 fta •▼•(•(• dlMoaol of > 



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— . 










•ipk TM* " 

../rMta.i 



l*r 

»c 

lOr 

\at 
tt 
i» 
i» 
i» 

10< 

V 

iS 

so 
•o 

too 




•#4% — 

n^ >4 

74 'e 

•«• 40 

•*»«• ._ 

OMlMtar.rfMO. M 4l«a 41% 
I /•wtMi.lOO 101%10l<« 

iwrrMte.>...„ ._ .. 

OmIu.! ~ 00 S71>t 71 >• 




lot 10« 

•10 . 

•»• . 

0«H 70V 

7J«« 7J^ 

7H 1', 

•S «t^ 

01 M 

•0% «••> 
100 100 <• 

7% 7^ 

•od~"(H' 

•1*% 1*4 >• 
177 177 

ir,.»r... 

••% 0>a 



10S«« 
10 



01 

"I* 

SOOIt^ ««•• 
•M •«'»0 
lOm 1«<>4 
10 
'M 
0»>« 

7a 

7<» 



lom 



07 •• 


STU 


00% 


70% 


70 


TOW 


7H 


7H 


»>• 


S* 


OS 


OS 


M% 


M% 


110 


llOii 


IS 


IS 






00 


00 


*0» 


••>••• 


•IJ 


l»\ 






177 ' 


177 


01% 


ii\ 


1*^ 


\*\ 


•7 


07 


•^'i 


»># 


0<t 


0<* 


iiAmu<« 


loO^l too'* 


so%<«ao«>« 


07 


*1\ 


7V« 


7% 


S30 


IM 


•a< 


• M 


01 


01 


so 


<8 


so<« 


S'», 


04 «« 


«SI« 


M 


ai^ 


79 


70 


•*i 


a> 


•sot 


-•• 


41 >■ 


41 >t 


lOi 


lOS 


7l'i 


71>i 


41 


4SH 


Id*. 


a 



01 

so<« 

110<« 

•7^1 

•o">~ 

•09 «t 
ISI4 

174 >t 

U>,, 
04% 
•0% 



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 
•OH ..... 

41 41 

30 80 

44>« 4^ 

S3>« 33>* 

•75 77 

39 88 

•3'% ... 

'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 
1,683.147 

911,491 

318,645 
2,830,324 

159,205 
1,935,658 

350,673 
4,083,869 
2,092,071 



47,038 
448,164 
189.471 
129.463 
665,697 
7,234 
526,580 
111,414 
1,328,983 
714,077 



61,131 
492.503 
307,708 
139,768 
673,306 
6,638 
567,388 
110,.502 
1,952,611 
791,701 



a Net eamlnica hers ictTAn are after dsiluotlog taxes. 

b Net earninKi here given are bcrnrs deiluoliuir taxes. 

e Deducting other expenditures for repairs, replacements and general 
exoensea, net Income applicable to Interest on Irands In Novemlwr was 
8136,148. acalnst $101,053 last year, and from January 1 to NoTcmber 
80 81,223,139, BKslnst 8979,751 . This Is the result In Mexican dollars 
ireatKd (aooordInK to tbe company's method of keeping Its accounts) 
as equlralent to 80 oenta In Unltad States money— that Is, all depreol- 
atlon herond 20 onr cent has already been allowed for. ' 

* After allowltig fur other income reoelTed Bet from January 1 to 
NoTember 3U was 8508,4u3, against 8379,012, and from July 1 tO' 
Nevamber 80 8^89.438, against 8353,987. 



Jaxvam-x 9, 18i>7.J 



THE CHRONICLE. 



79 



1896. 

21,996 
240,051 


1895. 

• 

13,198 

201.035 


1896. 
9 

2.333 
16.893 


18»». 

$ 

5,179 
21,402 


199,333 
931,319 


193,874 
984.242 


48.570 
338,772 


125,005 
671,129 


121,594 
584,352 


121,923 
577.205 


1,418 
64,559 


540 
65.00:1 


18.507 
82,535 


13,366 
69,337 


24,753 
80,273 


32.2 5 
3 ,8 5 


41,717 
189.397 


87,«00 
196,633 


•5,603 
•1,732 


•23,881 
*112,a89 



Interest CbiirKes aad Sarplas.— The following roads, il 
•ddicion to ttieir gross and aec earnings given in the foregoing, 
ftUo report ohargea for intareat, 3cc., mtb the surplus or deficit 
AboTa or below those charges. . 



BoadM, 

Bancor A &raofitook.foT. 

Jan. 1 to \ov. 30 

0«nTer \ Rio (}r'<le..Nov. 

July 1 to Soy. 30..... 
Kmn. O. Ft. B. A H...Nor. 

Jalj 1 to Not. 3>. ... 
Kan. O. Mem. A Blr .Nor. 

Jalr 1 to Xor. SO 

Toledo A O. Oent Kor. 

July 1 to Not. 30..... 189;397 

* After aUowlnK tor other Inoome reoelTed. 

SrSBEr KlILVfATS kSO TB4CTI0N COIPANIES 

The folio iviag table shovra the gross earnings for the latest 
period of all street railways from which we are able to obtain 
weekly or rnoathly returns. The arrangement of the tablp 'p 
the same as that for the steam roads — that is, the first tn o 
ooiuoans of figures giro the gross earnings for the latest 
week or tkonth. and the last two columns the earnings for 
the caleadar rear fron January 1 to and including such latest 
week or month. 

■TBBBT 8A.rHT4.Y9 KKii TBi^OrtOlT OOMPA^SIBS. 



QBOsa 

KABHIIfOS. 



a BOSS 
E^ltHIMaS. 



Latett Oroit Jtaming: 



WetkorUo 1898. I 1895. 



wilkesb. ft Wy. Valley 
WilmliigtoQ 8t. Bf... 
Voroestir 'Jonsol. . ... 
Worcester 8ub.3t. By. 



NoTsmbar. 
Septeoib'r. 
C>otober. .. 
deptamb'r. 



S I 9 

41.2 t? 39.101 

3,4.i3 3.012 

40.109 39,0tt> 

14.291 



Jan. I to Latett Dal* 



1896. 



461,850 



1895. 



9 
407,105 



Akron BeirA ft Cler 
Akron Ht.Br.ft III Co 
AUent'n ft Leb. Tr't'ti 
Aninrerdarn Hr. Ry... 
Andera'iiHt. Rr.d'id I 
At). (,'on«i>l. tic Ry.. 
Atlanta Railway. ... 
Aurora 8t. Ry. (Ills.). 
Baltlmurn rracclDO.. 
Bath 8t. Ky. (S. Y.I. 
Bay Citl«a Cooiol... 
Btngbamtoo St. By.. 
Bnaseport Traotion 
Brookton Con Bt. Rv 
Br'klf n Bap.Tr. Co.- 

Bruoklyn HelKhU.. 

Br klyo Ctu'nxftHai 
Total For aystem . 

Bnflalo Ry 

Cheater Traotl on 

Ohio, ft So. Side RT 
Oln. Kewport ft Cot.. 
Olty Eleo. (Rome.Qa.) 
OleTeUnd City Rt.. 
OeTAlaod Eleetrio.. 

CleTS. Paloav.ftB 

Oolnmboa St. Rt. (O.i 
Oooey Island m B'l/n 
Oooiol. Traotion N.J 
Danr. Gas El. Light ft 

Street R; 

Oajton Traotion 

DenMsr Con. Tramw 

Detroit Ry 

Dalntb St. By 

Erie E1«o. Motor Co.. 
OalTeatoo City Ry.. 
Berklmer Vohawk f i 

looAr'kfortEl.Ry 
BloK'm (Maaa.)e. Ry 

Hooaiok Ry. 

BooatoD City 8t. Ry.. 
Interatatf Connol. of 

Horth Attleboro... 

KlnKn'on Olty Ry 

LehlKh Traction , 

lA>niton Bt Ry. (Can.) 
LoolaTllle R.illway. . . 
Lowell Law. ft HaT. 

Itrno ft Boaton 

Metrop.(Kanaa8 Clly 
MontsODjiery 8t. Ry 
If ontreal Street Rt. . 
Haaaau Kleo. (B'klynl 
Kewhnrith Eleotrlu... 
■ew EnKland St.— 

Wlnohester Are 

Plym'th ft Ktnnton 

Total 

HewHaTenftCentreT. 
Hew London Bt. Ry.. 
■ew Orleana Traotion 
H. T. ft QitnenaCy... 
Offdenaburg St. Ry.. 

Pateraon Ry... 

Plttab. Pt.Bub. El.Ry. 
Po'keeml*! ft Wapp. f. 
Kapid By. ( Uetrolt). . 

Boaaoke Street. 

Boobester Ry 

SebnylklU Traotion... 
Beaiiylklll Val. Trao. 
Borantoo A PIttaton. . 
Boranton Traotion. . . 
Second ATR. (PlttAb.) 
Blooz City Traotion 
■TTaenae E'at.SldeRy 
■rraoDte Rap. Tr. By. 
nrre Haate El'o. By 
Third Are. (R. T.) .. 



Xbronto By.. 
Twin City Rap. Tran 
Onion (N. Bedford)... 
United Tract. (ProT.i 
Unit. Trao. (Beadlnio 

WakeBeld ft ntone 

Waterbary Traetlon. . 
Wheeling BaUway... 




• Flsarea wereezoeptloaallal393oaaooa>iatar Atlanta Bxpoaitlon 

Street Railway Net Earnln^g.— The following table glrea 
nbe retu>°n8 of Street railway ktoss and net earnings received 
-his ween. In reporting these net earnings for the street rail- 
ways, we adopt the same plan as that for the steam roads- 
chat IB, we print each week all the returns received that 
week, but once a month (on the thisd or the fourth Satur- 
lay) we bring together all the roads furnishing returns, and 
the latest statement of this kind will be found in tha 
Chroniolb of December 19. 1896. The next will appear is 
the issue of Januiry 23, 1897. 



Road$, 
Atlanta Coaa. 8t Ry.Deo. 

Jan. 1 to Oeo. 31 

Brooklyn Heights— 

Ooc 1 to D 0. 31 

Jan. I to Deo. 31..... 
B'klyn Queens Co. ft Bub. 

Uot. 1 to l)«o. 31 

Jau. 1 to Oeo. 31 

Lynn ft Bnaton Not. 

Jan 1 to .Vot. 30 

KewOrl«aDB Tract.. .VoT. 

Jan. I to Mot. 30..... 
P*k'p».Clty4W Palla.HoT. 

■Ian. 1 to Xov. 3u. ... 

' Figures were exceptional la 1895 on aocount ot Atlanta Bzposi' 
I loo. 

ATLANTA CO^SOL. STRBBr RAILWAY. 



— Oroat Sa 
1896. 

9 
29,250 
383,715 


1395. 

S 

* 6 2,8 48 

•474,112 


yet Barnitu/e. — — 

1896. 1895. 

S 9 
15,210 •32.8)4 
131,126 •241,480 


1,251.348 

4,548,762 


1,147.55 4 
3,987,296 


515,885 
1,912,608 


370,467 
1,165,795 


132,343 
720,300 


162,536 
615.204 


65 847 
26i,»t00 


40,534 
181,390 


102,2 <3 
1,33.4,671 


08.5 U 
l,29i,9l5 


3-t.3ll 
572,691 


29,853 
575,501 


104,230 
1,212.3J3 


121,400 
1,227,638 


42,931 
523,212 


53.841 
525,561 


6,011 
80,063 


6,655 


2,H4 
33,939 


574 



Vay 1 to ne«. 31— 


1896. 


I8H5. 


1894. 


GrtfHii ^rrnlnira. ..m. -•.••■.-•... 


925!<,Xa4 


S3S9 533 


(206.825 


Operating ezpeoaea 


. 122.110 


179,523 


115,891 



Vet earaloga $136,<f5« 

Plied charitea 84.H67 

Net profit 952,187 



$210,010 $90,934 



ANNUAL REPORTS. 



\aBiial Reports. — The following is an index to all aonaal 
re lorts of steam railroads, stroet railways and miscellaneous 
CO npanieA which h tva been published since the l:i.st editions 
ot the Investors' and Street Railway SoppbEHENTS, 

Thin iudet d.)«>8 noMnclude repor'x i'< to-day's CHRONIOLB. 

Note.— FuUfaoe figures refer to Volume 64. 



RAILROilD* AND UlSCBL. OO'S. 

Vnlnmi t US aad 64 — Page. 

Akron 4 Chicago Junction I'O; 

Amerlca-i Cottoci Oil 1007, 1019 

American Trpe Fouadera 702 

An.ioanda Cupper Mining 115tt 

Atfih. Topaka i Santa V» it moa.) . 791 

Baltimore ft Ohio aoi.H\, 9ib 

Do LI'Cle'a report 1009. 1040. 10X2 

B. ftO.S':iath«e8tam .1006. IU'2ii 

RulTalo ft Snaqiiehanna MM 

Ciinaila Southern 11-^6 

Central uf i4eorKla Ry..llS9, IIM, 1160 

C<>ntral "hlo . I"07 

Chlcaiio Burl ft Uulncy 8'? 

Cmc Juno. Kya A tJn. Stk. Tdi ... ■)*H 
Cblc. Paortaft St. Loula (6 moa ).. '91 
Clnclnoati Port-montb « Vlnrinla. 791 

Clereland Akron ft ColumDus 1112 

CleTalana Canton ft Southern 1166 

CI»Taland Lorain ft WbeeUnit 30 

Cle 'eland Terminal ft Valley .. "wi 
CleTebuil ft Clndnnstl Midland ..1007 

I' jmmboa Sandusky ft H 835 

SransTllle ft Indianapolis HIS 

Intero •eanio of Mexico 1113 

Iron teamboalCo 966 

Kanawha ft Michigan 79* 

Kan cntT Pt. Scott ft Hemp 115S 

■fianaaaatjr Memiihis A B. use 

Lake Shore ft Mlcfiltrao Southern. 1155 

LebiKh ft Hu<1.oa lUrer 11 II 

LiUllaUnd RK 8.36 

Manhattan I BleTaUil) Rt 87H 

Mergenthaler l.lnotjpeCo 1157 

MexToan Northern TVii 



RiTLBOAD *ndMihobl. Co's(C7on.) 
Voiunifg 8;) iitui 64— Paos, 

Mexican Southern 1119 

Ml' hlKari Central IISS 

MU.ourl Poiflc 877 

M.blleft Blrmlnnham Ill* 

Newark Somerset ft StraltaTllle ..la«S 

Nortnorn Pacidc 835, lOnO 

.Vorthern UK. of New Jersey 837 

Penn Ueat Liisht ft Power 79S 

PlltsburK i Western llll 

Sandusky vlansfleld ft Newark lOOS 

8outh Ctroiina jt Georgia 966 

Sloulhern PucHHo t-SS 

Sullivan County 877 

Vermont Valler 877 

Welsbach Commercial Co 1061 

Wneellng < Lale Krie 7as 

Wllm ngton Columbia ft Aug 1156 

Wilmington ft Weldon 1166 

Wisconsin Central 9ia 

8TKBKT RtlLWATS. 

Brockton CimsoUdated 1008 

Buffalo Kr 1166 

Globe St. Br. (Pall RiTer).. . ...,1061 

LKiwell Lawrence ft HaTerhlU 1061 

Lowell ft Suburban. 1061 

Lynnft Boston 1007.111* 

North Sbore Traotion 1118 

R.ichestor Hy 996 

SprlnKaelcl (Mass.) St. Ry 1061 

Union St. Ry. cSew Btdtord) 1061 

Union Traction Co.. Phil 1060 

Weat End St. By. (Boston) 9M 



Fliirlds Central & Peoinsalar Railroad. 

(Results for year ending June 30, 1896, J 

Eamins^s for the late fiscal year h*v« been furnished to tho 
ChroniCLB and compire as f.jllows with previous v^ars. It 
will De noted that the deficit for the yiar ($U1.8S4) oc- 
currerl entirely on the leased lioe, the South B 'und BR,, the 
Florida Central proper showing a surplun of $17 491, 

. 1896. . 1895. 1894. 

rears end. June SO- r.0.4tP. So.Biund. Entire Bt. Eatirt lid. EntireBi. 

t 

Eamlnga l,7<H.ei3 

Oper. expenses L273,162 

P.O. ofop. exp togroaa. (72*11) 



Neteamlnga 491.411 

Fixed chartjft^ 

Int. on mortgage bonds 390,316 

Taxea,etc 83.764 

Total flxed charges. 473,970 

Balance for year aor 17,491 deMi!9,375 def.111,884 

•V, «<, p. 136. 



« 

300.889 
319,"ll 

def.U.Tis 

101,660 

12,oijO 

113.650 



t 

2.0^510 

1.6»'.771 

((6-97) 

475,736 

491.366 
U5,7.%4 

687.6^0 



« 

2,272,lt8 

I,i9<i,:<i8 

{74-39) 

581.830 

480.282 
1)7,671 

~577,863 
BUr.8,977 



* 

2,106,757 

l,4tS,531 

(68-65) 

062,i7a 

420.498 
81,968 

606.46* 
166,719 



80 



THK CHRONICLE. 



fVOL. LXIV. 



Brwtlya mtralM Bftllro»4. 

fB^fOfi ff 'A? ftr emding Dfe. St, ISXJ 

rnaitfMl Ufel«M la Ui« rvport t\y in p»ri : 
JUnti-rffT ff tirri"f**' -'tf-'-'"'-'— <'"■» "" "*** « rtak- 
M* Ui«mU<«*a4 th« •ooi't'or i*r«et>c*l, ao«ip*Q*' *>«• 
k«M affMVd ta OMlataiaiac Ui< pr «p*fl7- F>irO<'r roiuoUoa 
la o|wriilin «<p-a«a omiII onir itiV'* Ixmo off cal 'jr r«< 
dsotag mi* MTtrw* o( ««4«** Voar ia«<MC«UMal a-Mined it 




. -Th« Ufi« lUUnc off In th« pWMiic«r r'C -ipt* 

of tlM eatapanjr la to b* MonhoJ u> t«rae*u«««: Tbe liMtl time* 
o( IMW *»<1 llMeompaUiion of tb« Mrr«o« ru»4*. Oa« of th« 
lof tb« Mntiul* '>*>*'■'■> the (ucrMM* r<ilru»'l« II the 
by Mod wcnpasj ol tranafrra ofrr all it* liom Thn 
BalglMa oonwola *»4 Oftcraiei otpf lUU miletof 
(bw tlaei n c raUnmd. Tbe NatMU conirolt 
■I 70 milt*. Rjr maaiMof ualimiu^ tr>>iK(en 
rr l>]r pavi^ '«ooai«i •otiU«U to bd almoat 

piiHHIlnl rtiir. fb. (bii in reducioK tbe earniaic* of 

fvmt conpMiT !• «baMMMtm«J by th!« rrport. 

9mil M lo Tiytfle Agntwi«mt.—A<t an incident to this intente 
floaBttUloB, Ik* Nmmu Cbmpaoy, without eligbt^t pre- 
W^» of an tBOaw. abcnK*t«<l tt>* trafflo acreem- nt which the 
Allaotle Avu>u» and W«et End comp*nlea entered into with 
thuroiui ''. br wbich act <he receipt* of th- la't'-r 

allbel'r.i . . :ii fhirtjr-jixih Street an<l Fifth Avuaue 

mm» lariC'l/ reJjcr<l A (iiit hat hot n be<(U>i to res'.raia thbi 
Vtotaii' n, in « hirh a prr hmiuary injunction ii KraDte<l. Tbli 
litltatiuo ciould rwult in tbe payment of a ooatiderable 
mm uni of damasee to your oompaoy. 

/^tMpnefa — Tbe proepecta for future inereaae inihecam- 
UaCi depend pnerallj upon the inereaae in the population and 
ptoeporliy ofBrooklyn. Tnis, itia generally oonaidered, will he 
aaaurrd aa eoon aa Ore«t<'r New Yoric taltea practical shap». la 
•ddiUoatotbif, however, it is to be expected 1 hat other eveota 
will taad to i t oce the earning of inu company nbore t irmrr 
flforea. It i* brliered that the financial results of the pist 
yt»t will eanM tbe autfaoe railroad companiea to aattle ibuir 
differerct-aaad operate their linea with a view of maintaining 
their valuable properties at a profit instead of at a loos. 

iUr^r with KiHgi County ClfvUed RR. — Negotiations ar < 
•too pending and should b« completed whereby tbe railroads 
of tM King* County and Broolclyn Elevated compinies 
would be oi«rated under oa>< management by traffic a>;ree- 
■MOI or merger un a fair b«si«. Thii would immedi'itelv 
fUMdt In eooaiderabld reduation in op?ra'iag exp>nsei) of the 
eooihioed eompanies, give better service to the traveling 
public and mult in increased receipts. New capital, bow- 
vvrr. will be essential to enable the omblned ompinies to 
change their motire p->wer. so that without inoreaainR oper- 
a*ioK eip nies <!\r* could be operated at more freija-^nc ioter- 
vala. which o( iuH*!' «">u*d add mic»riallv o eHrai'igi. 

PtvpotUinm to Run Trains Over the Bridge. -Ai to thi» 
fiojrct ib« report aays in part : 

Of tb« ar«*lest lin:<ortaio«. h^wprer, )• th^ matter nf itirnacb 
Imfla wlihuatetianKKor ri-« urer iht Maw Tiirk and Brnoklyn brl(l<r. 
Aeaamlag to brt ! . " tboni i>u« liilf of all pHis'ui^orii ii>lnc 

HM rallrB<4 of ' irriri> at ant dnp^rt fr >m ih« Hnniklya 

•sfwlaas la lb* • «ri or th* Krooklxn naA Kid>;« County 

eratsaa. taboul tw.. iiiir - vi» HrDi.klyn U one tliird Tla 

KlB«s Oaaaljr Ui lo Jaaiu ir offi -orii iiul>iiMtiiMl a oom- 

■rskaaitva prapnaltlun oum :liri>iit,'b iraiuporiKii.iQ aoresii 

n* bii4g* la ik« cara of iii.- ,• -v ,ii..i rallfo.id* of Brooklyn, and 
h a y a a sd Ih* waj of couopcllnc tl>« clnralcd ayMeni* of botti 
tea that paMvoipir traatportttioD fr.im llArlem tn ibn limliaot 
lOaaatjreMiU Im had without ob*ncp nf cira. rhn pmposliloa 
"ta apyreval of tbe mayurt of l>oth cltl«t. and wlili their 
BtaaeaabliDK not wt^ tntr.'dnrad In Ilia l.ednlatiirn of 
ibMIt waaB»T«r r«p<'ri >.>t«OoiniBltu>a to wliloh 

ikeearrfriiad. Ub o. .,f the Major of Brook- 

.aiaeataUon w»« p ini-i! r-oiiiiipofntiiK * fi»rd 

ef ihf«ea>B*tt«. > 
Mli<y aad Ibis 1' 
lb — M ifenach 

self-artfcat ttat ; rui.i.llv ii,cr,-..«c 

Ail ralrMd ir« the li rid ce, would 

> la tar sao" iiura value of your 

llpllnuiy tttalilliliotl. 



TajtaHon. — The Sat« tax's have beenptid at maturity. 
MoBlOptl tax- - 'ir« hav not l)een paid. Tne 

lit a»ei^«' . of Brooklyn b.-iug excsssive, 

rerr «.i»isf.i I' V counsel to contest tne amou'>t 
I t>j the court*, ard ihrss leval proceeding are now 
pMdiag. Tne retwiit dtci<i;m of th" Appellt'.e Division of 
llM Supfeme C >urt doce not direi-tly alTeci the c )ntf8t pnnd- 
Ing »• totbeiaxraoniitnirture for IHlto and 1H90, but dt-cides 
Uiat ' t be paid for 1883 and 1894. 

*"' ri^port givee no baUnc- sheet, 

nNlBvHwcainiiii {'•\>iM< ) ii«c. Si, IMIO(««oured by fl.aiO- 
A IV H. Hrsis). were |«05,t)00, having been lii- 
Iflto.OuOdunog f- v..,.r- .here was due "op.Tating 
ftUMTItM.m. and thai aol lose deBoiency D-c. 

»1.»»«. wasfi82,7(« () ; 00 000 8«wide& Brooklyn 

MMC* ttiat morigage b.*iid« ia.ued. ♦l,a<6,000 were s Uto 
MkMribtn; II.210.IMU (as above) were out aa ooltateral; $374,- 
••• ••* heW by the OeoUal True'. Co. aa tru«t«-e for account 
•fllM Brooklyn Eloraicd. and fSO.OOO were deposited aa 
MUMy in AMs*! earn*. 

._?"■*'"* iTfnanott.— Tho report oUtee that after paying all 
WW"** malnriDg In 1896, aleo oonpooa of tbe Seaside A B. B. 
flnu and BrookUn Elevated aeoonda maturing Jan. 1, ia97 
^oaah 00 band Dee 81. 1896, was $62,074. The compiny , 
kowvrw, was coiapelle<l to increase Its liabilities during the 
fMT leM 1196,000, eo that tbe floating indebtedness Dec. 31 
UN. was 1606,000, bealdaa 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 



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»\Vm wj}^ jmTu-j jjj^.u 



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«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 



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UMM 

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M.* M.eii« 
l.«•^oo>. 111.000 

tr.oSc 



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t MM ••.<•■< MO 

t.|.«».'«tj«i.ao 
«.UM.TUM;DM 



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mm 


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14.060 


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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 






WIO-.0I.) 

..la.uu.' 
»oaioi» 



.1- 



8' 23 

M -I* 






»MtS''' » 



■— VSOD 

s :s 
• ••] , 

ID I VA 

8 28 ! 









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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 
■