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xmm HUNT'S MERCHANTS
MAGAZINE.
REPRESENTING THE COMMERCIAL AND INDUSTRIAL INTERESTS OP THE UNITED STATES
VOL.
NEW
30.
YORK, JUNE
FinancitU.
12. 1880.
NO.
Financial.
Financial. HowAUD Laphlev;
Phelps, I.
&
Stokes
Co.,
COMMERCIAL, CREDITS, hi Bullars for use in
Untied States, Cuba, &c..
In Pounds Sterltnff, available
In
any part of the world.
TRAVELEKS' CREDITS and
Also,
CIRCUI.AR NOTES.
Co.,
BANKERS, New
N. PIIRr^PS,
JAMES STOKES, BANKERS. "^'•'•^••••'J ANSON PHELPS STOKES. 45 AVALI. ST., NEW VORK.
&
Jesup, Paton
Vork.
Accnunts and Agency of Banks, Corporations, Arms and individuals received upon favorable terms. Dividends and intoreat collected and remitted. Act as agents for corporations In paying coupons and dividends also as transfer agents. Bonds, stocks and securities bought and 1iold on ;
commission.
Sound
railroad and municipal bonds negotiated. Sterling exchange bought and sold. Drafts on
Union Bank of London.
John
Banque J.
Centrale
Anversoise,
Kennedy
J.
&
Kennedy
Tod.
Co.,
Bankers and Merchants, 63 WILLIAM STREET, Nctv Vork.
No.
Antwerp.
Kennedy.
S.
S.
- •
9,000,000 Fraucs.
RAILKOAD INVEHTUBNI SECVlilTlES: Collect Coitpons and Dividends
BOARS' OF DIRECTORS
;
Fblii Grtsab, President.
negotiate loans and draw bills of EXCHANGE ON LONDON.
Otto (tUNThkr (Cornellle-Davld). KMILS DK GtTTAL.
Equipment of KaiHruuds undertaken.
Alfred Maqitimat (Grafl& Maqulnay), Vlce-Preu J. B. Vox UER Becee (B. Von der Becice). Ad. Frank
(
?>ank. Model
&
Cle.)
Aro. NoTTEB>uM (NoiteboUm Freres). Fb. Dhanim (Miohlels-Loos). JoH. Dav. Fuurmann, .Jb. (Job. Dan. Fubrmunn). Lens Weber (Ed. Weber & Cle.) JtjLES Kautensteauoh (C. Schmld & Cle.)
TRANSACTS
A
GENERAI. BANKING BUSUtiESS. ASA
P.
POTTEK, Pcest.
J. J.
Eddy
All business relating to
BROKERS IN Foreign Excliun^e, Stocks and Bonds, 63 Wan street. New Vork.. (P. O. BOX 2*t7.) Special Intention paid to the negotiation of mercial blDs.
C.
BOSTON, $400,000 400,000
COLLECTIONS a specialty. and Bankers
Business from Banks
solicited.
Satisfactory
business paper
discounted.
Hudson
I.
EXCHANGE
3
COITRT,
L.
Jb.
&
H. Taylor
Co.,
Bankers and Brokers, 138
SOUTH THIRD STREET, PHILADELPHIA.
Deposits received subject to check at slKht, aad Interest allowed on daily balances. Stocks, Bouds, &c., b(jught and sold on commission in Philadelphia and other cities. Particular attention Rivea to information regarding Investment Securities.
Clinton B. Fisk
&
Co.,
BANKERS, No. 3 Broad Street, Drexel Bnlldlns. DEALERS IW
GOVERNMENT AND INVEST.MKNT SECURITIES BUY AND SELL ON COMMISSION, For cash or on margin, all securities dealt in at tbe Mew York Stock Exchange. Brokers in State, Railway, Municipal, Mining and Miacellaneoua stocks
and bonds.
^
R. T. Wilson
&
Co.,
AJfKEES AND COlEMISaiOK MERCHANT8, S Kzcbamse «oart, M ew York.
&
Buttrick
Elliman,
BANKERS AND BROKERS, 39 Wall St, New York. BONDS, STOCKS and INVESTMENT SECURITIES BOUGHT AND SOLD ON COMMISSION. Noa. 37
STOCK AND BOND BROKERS, 34 BBOAD ST., NEW YORK. Stocks, RaHroad Bond*.
CoLEHAN Benedict, Members %M^—t^— w a.,..h Bxcb. K..k N. v T. Btoek J AS. McooYEBH, Jb., J (
P.
Co., REIL ESTATE AND INSCBANCE, 88
W. C. McKean, Member of N. Y. Stock Exch'ge.
Lloyd 34 W^ALI.
& McKean,
STREET, NEW^ YORK.
Gwynne & Day, fEstabUshed 1834.]
No. 45 Wall Street,
Transact a general banking and brokerage business in Railway Shares and Bonds and Government securities.
Interest allowed on deposits. Investmenta caret ally attenled to.
WEST OF KAN. AVE., KANS.%S.
Loans noKOt lated. Coltectloaa made. Taxes paid. Municipal Securities bought and sold.
P. F. Keleher OLIVE STREET,
&
Co.,
ST. LOUIS,
fflto.
Western Investment Socurltlea for sale. St. Louis City and States of Mlsauurl, Kansaa, Texas, Arkansas and Oolorado Bonda a apeclaltv. Full information given In refereooe to same on application. Coupons and dividends eolleeted. First-class
WALHTON
H.
BROWN.
TtatD. A. BROWlt,
Walston H Brown & Bro. .
11
BANKERS, Pine bireet. New
York.
SPECIAL ATTENTION OIVBN TO THB MBOOTIATION OF
RAILROAD SECURITIES.
Hatch BANKERS,
&
No. 13
UT
Foote, WALL STREET,
AND IKU.
GOVERNMENT BONDS. STOCKS AND
JaSCHI/.
LANEOU8 SECURITIES,
A. H. Brown
&
Co.,
BANKERS AND BROKERS.
New, New Tork. INVESTMENT SECURITIES.
f liraU St., Cor.
Special attention to business of country banks.
John
Buy and sell— on commission—Government, Railway and Miscellaneous Securities. Receive deposits subject to check, and allow Interest on balances.
SI.XTH AVE.,
TOPEKA,
&
Lloyd.
&
H. R. Prather
A. BiTTTRiCK,
Joseph
all 8^ odbm^
OoremmenUi, and
curltles dealt In at the New York Btoek Xxobaanf bought and sold for Investment or eaiTled gin, strictly on oommlsalon.
Member of the N. Y. Stock Exch'ge Wm. Elliman. Member of the N.Y. Mining Exch'ge C.
Co.,
Coleman Benedict & Co.
Cor-
LiNDLBY Haines
& .
Co.,
NEW YORK,
Buy and sell on commission, for investment or on margin, all securities dealt la at the New York Stock Exchange. C. I. HrOSON, U. U. LEAK. T. H. CtTRTIS. Member N. Y. Stock Exch.
respondence invited.
Lewis H. Tatlob,
&
Com-
ABO,
I
STOCK BROKERS, No. 15 BROAD STREET, Wow York __^
305
Hilmers,McGowan & Co
Maverick National Bank, CAPITAL, SURPLUS,
the Construction and
Cashier.
sn
clal.
BUY AND SELL Paid-Up Capital,
I),
Mora ben N. Y. SUx-k K Cybl-h W. Field, Ju. Cviii
Lapsley, Field
53 William Street,
'
7^l.
F. Zebley, Jr.,
BANKER AND BROKER,
BROAD
NEW
YORK, ST., (DBExn. BUILDISO) Dealer In iBTestkient Seenritles. 5
Orders executed at the Stock and MInlns Exohaacee. Special attention given to Defanlted Bailrced aod Mnniotpal Securitiea of lUlnoi*. Kaaaaa, MIhootI. ova and Nebraska. Correspendence solicited and fnU inXotmatiOB given on all daases of bondi aad it< cki.
THE CHRONICLE.
u
ForeiKn Exchange.
Foreisn Exchange.
XXX
Vol.
Foreign Bankers.
Nederlandsche Drexel, Morgan & Co., iCnoblauch WALL STKBET, & Lichtenstein, Handel-Maatschappij, CGKNBR OP BROAD, NEW YORK. &
Drexel
Drexel, Harjes
Co.,
No. 84 South Thibd
St.,
SI
&
O
Boulevard UausBmaiiD
Paris. Phlladelpbia. DOMESTIC AND FOREIGN BANKERS.
Attor-skts and AeSNTB OF S. Sc CO.,
MORGAN
OLD BROAD
No. 82
Brown No.
ST.,
all
&
NEW
STANTON BLAKE.
Merchants' Bank
President, the
Hon.
JOHN HAMILTON. JOHN MCLENNAN,
Vice-President,
and Guadaloupe.
In Francs, In Martinique
Between this and other countries, through London and Paris. Make Collections of Drafts drawn abroad on all points in the United States and Canada, and of Drafts drawn in the United States on Foreign Countries.
ESQ.
&
G.
S.
G. C. Ward,
LONDON, ENG.— The Clydesdale Banking Comp'y. NEW YORK— The Bank of New York. N. B. A. The New York Agency buys and sells Sterling Exchange, Cable Transfers, issues Oedits available in all parts of the world, makes collections in Canada and elsewhere, and issues Drafts payable at any of the offices of the bank in Canada. Demand Drafts issued payable in Scotland and Ireland, and every description of foreign banking business undertaken.
Neur York Agency, 48 Exchange-place. HENKY HAGUE, ..rentB -*»™tB.
JOHN
COmPANY,
tc
STREET. NEW YORK. 28 8TATK STREET, BOSTON,
fi2
WALL
CAPITAL, SURPLUS,
-
t
& W. Seligman& Co., J.
GEORGE STEPHEN,
BANKERS, 59 EXCHANG'B PLAOK, COBNER BROAD 8TREKT. NEW lORK.
Walter Watson, LANO,
A.
Issne Letters of Credit for Trarelerg,
Buy and
142 Pearl Street
Established in
New York.
1863.
($4,800,000 Gold.) OFFICE IN AMSTERDAM.
HEAD Agencies
iii Batavia, Soerubaya and Samaran^. Correspondents In Padang.
Issue commercial credits, make advances on ship* ments of staple merchandise, and transact othe*
business of a financial character in connection witb the trade with the Dutch East Indies.
BLAKE BROTHERS &
CO., Agests foh Nokth America, 14 wall street, new york, 88 state street, boston
Hong Kong &
Shanghai
BANKING CORPORATION. CAPITAL (paid-up)
HEAD
»5,(K)0,00e
)
1,500,000
HONO KONG.
OFFICE,
The Corporation grant Drafts and negotiate or Bombay, Calcutta, Singapore, Manila, Hong KonK, Foochow, Amoy Ningpo, Shanghai, Hankow, Yokohama, Hiogo, San Francisco and London. collect Bills payable at
yEW YORK OFFICE, 69 ac 61 WALL. STREET.
Nos.
America
RESERVE FUND
Preeiaent.
SMITHERS, General Manager.
C. F.
'»'
\ S
Pald-Up Capital, 12,00^1,000 GnUders
S
$12,000,000, Gold. 5,000,000, Gold.
-
HAWLEY',
E.
lb79.
AMSTERDAM, HOLLAND.
Bank of Montreal.
AOKNTS POS
BARING BROTHERS
JB.,
1,
Nederlandsch Indischc Handelsbank,
)
HARRIS
B.
Toek, January
Office,
85,500,000 Paid Up.
Capital,
HENKY
Kew
HEAD OFFICE, nONTRE.AL. ON GREAT BRITAIN AND IRELAND, FRANCE, GERMANY, BELGIUM AND UOLLAND. GEORGE HAGUE, General Manager. Issue Commercial aiul Travelers' Credits WM. J. INGRAM, Asst. General Manager. IN SIERLINO, BANKERS WORLD. THE AVAILABLE IN ANY PART OF And
1824.
;
Canadian Banks.
BILLS OF EXCHANGE
'rRAIVSF£RS HAKE XEliEGRAPHIC OF OTONKY
ESTABLISED
Paid-up Capital, 36,000,000 Florins. Execute orders for the purchase or sale of Merchandise, Bonds, Stocks, and other securities, In the Unlled States, Europe and the Kast make Collections buy and sell Foreijfn Exchange, and give advances upon Merchandise for Export. OLIVEl: S. CARTER, ) Agents
OF
Co.,
OF HOLLAND, ($14,400,000, Gold.)
SPECIAL PARTNER, HAIVK, Berlin.
OEUXSOHK
CANADA,
TTALI. ST., X. ¥., BUY AND SELL
The Netlierland Trading Society
YORK,
principal cities or Europe.
LONDON.
Brothers
fi»
Exchange Place.
St., cor.
dake Telegraphic Money Transfers. Draw Bills of Exchange and Issue Letters of Credit D
Depoatte received subject to Draft. Securities, Gold, Ac, Dougtit and sold on Contmlseion. lutereft allowed on Deposits. Foreign Kxcbange. Commercial Credits. Circular Letters for Travelers, Cable Transfers. ayaUable In all parts of the world.
Messrs. J.
BANKERS,
29 William
Saigon,
A. M.
ao.pt,.. Agents.
i
Exchange, Francs and Cable Transfers grant Commercial and Travelers' Credits available in any part of the world issue drafts on and make collections in Chieugo and threughout
TOW.vSEND, A sent, 59
TFall St.
California Banks.
sell Sterling
;
Payable in any part of Europe, Asia, Africa, Australia
;
Bd America. Draw Bills of Sxckange and make telegraphic traoifers of money on Europe and OallforBla.
&
John Munroe
Co.,
the Dominion of Canada.
London
CO., PARIS. BTKBLDta CHEQUES AND BILLS AT SIXTY DAYS' SIGHT ON tc
ALEXANDERS
&.
CO.,
J.
&
Stuart J.
&
Co.,
NASSAU STREET. BILLS OF EXCHANGE ON 33
Bond*,
or
British
North America, STREET.
No. 52 l«rALL Bay and
Tba'to.xks.
Invested In U. S. $3,500,000 Gold.
Surplait,
Bank
LONDON.
CnonULB Noras uro CBSorra roB
OF SAH FRANCISCO. New Tork A»««y, 62 Wall Street
No. 9 Blrchln Lane.
AGENCY OF THE
No. 8 IV^all Street, New York, No. 4 Post Oflloe Sqnare, Boston. CHEQUES AND CABLE TRANSFERS ON
raVNROE
Office,
The Nevada Bank
Sterling Exchange and Cable Transfers. Issue demand drafts on Scotland and Ireland, also on Canada, British Columbia, Portland, Oregon, and San Francisco. Bills collected and other banking business transacted. D. A. MCTAVISH, I .„„_,. 1= sell
W. LAWSON
)
,
Agents.U
|
SMITH, PAYNE
GEORGE
L.
BRANDER,
Agent.
Issues Commercial and Travelers' Credits available In any part of the world. Draw^ Exchange, Fopeig and Inland, and makes Transfers of Money by Telegraph and Cable. Gives special attention to Gold and Silver Bullion and Specie, and to California Collections and Securities and arranges to pay Dividends on such securities at due dates. ;
SMITH. PAYNE & SMITHS. UNION BANK OF LONDON. NewYork.BANK OF NEW YORK, N. B. A. do American Exchange Nat. Bank.
Bankers, London,
do do do
do
tc SMITH'S, Imperial Bank of Canada THE Capital, $1,000,000. COUNTY BANK, Anglo-Californian Bank H, S. HOWLAND, President D. K. WILKIK, Cashier "LIMITED;" (LIMITED). MANCHESTER, PAYABLE IK LONDON HEAD OFFICE, TORONTO. LONDON, Head Office, 3 Angel Conrt. ULSTER BANKINtt COMPANY, Bbanohxs SAN FRANCISCO Office. 422 California St. BELFAST, IRELAND
BANKERS, LONDON
HANCHESTEK
j
tc
;
:
CATHARINES, PORT COLBORNE, ST. THOMAS. INGERSOLL, WELLAND, DUNNVILLE, FERGUS.
ST.
AND OH THK
NATIONAL BANK OF SCOTLAND, EDINBURG, AND BRANCHES;
Agents in London
ALSO.
:;ablb transfers
Dealers in American Currency and Sterling Exchange*
BosAif QUKT, Salt
and letters of credit
S3
Lombard
:
Agents
I
&
Co., street.
in
New York
" Bank or Montrkal, 59
Wall
NEW YORK Agents,
J.
& W.
Selunnan
& Ce.
BOSTON Correspond'ts, Massacliusette N. Bit. Authorized Capital, Paid up and Reserve,
$6,000,000. 1,700,000.
street.
Promptest attention paid to collections payable in any part of Canada. Apnroved Canadian business paper, payable In gold or currency, diguounted on reasonable terms, and proceeds remitted to any part of the United States by gold or currency draft on New York.
Transact a general banking business. Issue Com. mercial credits and Bills of Exchange, available in all parts of the world. Collections and orders fo* Bonds, Stocks, etc., executed upon the most favor» FRBD'K F. LOW, able terms. iMannocr. Managers.
IGN ATX STEINHART. j
Foreign Bankers.
New
No. 25 Pine Street, York. Purchase and sell, on Commission, GOVERNMENT. STATE, MUNICIPAL and RAILROAD BOND^ and STOCKS, and all classes of Securities dealt In
NEW YORK STOCK
at tl e repui able Securities
MAIKET.
neifoi iated.
ohecV.
E.XCHANGB,
or
all
bought and sold in the OPEN and COMMERCIAL PAPER
LOANS
Interest paid on
DEPOSITS
subject to
WILLIAM B. HATCH. THC MAS H. BOUDKN.Bi FEANK JENKINS
p. N.
LILIENTHAL,
Boston Banker§.
Adolph Boissevain & Co.
BANKERS
Parker
kST>
N. T. Corr«*Pandenta.—Messrs.
BLAKB BROS, ii CO
&
Stackpole,
BANKERS,
COMRIISSION IHERCHANTS AMSTERDAM, HOLLAND.
Cashier.
No. 68
DEVONSHIRE STREET, BOSTOjK
JUMK
THE CHllONICLE
1880. J
12,
ili
Boitoii Banker§.
Financial.
Financial.
Geo.Wm.Ballou&Co
BONDS OF NVRETYSHIP
FIDELITY GDARINTEK BU1ID8
ANKERS, 8
72 DeTonahlre
Tl'all Street,
NEIV YOHK.
St.,
No Bank on
Raii.iioam kmi-loyee Neeii ask tUIENUH TO BKC IIMK ult CONTINUE Ills his Hl'uktikh, as the
BOSTON.
DEPOSITS Reciited and intibest Aixowed.
Choice
For OIBcera and Kniployera of Bank and HaliWHya.
RAILROAD
and inrNICIPAI. SECUlllXlES For Sale.
f
Canada Guarantee Co.
Wm. Ballou.
Geo. B. Holt.
&
Brewster, Basset
Co.,
BANKERS, No. 35
OONURBSS «iTRKBT, noKtoui
inaiia,
De&leri In Stoclu. Bonds, Gold ftod
Commeroln)
vaper.
HroEen
Ordersflxecatcd on'ComDiUvtoa at
Board
Aactloos.and Prlrate Kale. LDVestment STti'tttwH ronntantlT on hand.
&
Chas. A. Sweet
Co.,
TKlKI.IMi ( IIAlKiK I'KK ANN! M. Thliconiimny'; Suntyf.lili> Is uf,t.|.lL'(l l,y nianr of the urlnclpal t; ». Unllroad Compnnli-s utid i.(.m« of the Banks. In ( uiiiida lin Bonds arc n..w aliiiimt unWersallr required by ihn (iuvenimi-uta, Bauta,
HallwBTa, and rf Kmployoes.and this Is reairy of the tlrst linportunco to the Kmpio' er, as also the system of iierludlcal supervision and revision of those on the Company's Books. Ovei- »IOO,OflO Imve alreiiily been paid by this Company for tosses by unfaithful employeua, witflout a
HnoU rnnlrnt M law. The Available Assets of the Company (at 81st Dec, 187S) over and above uncalled were
»110,04«
And
the Gross Resources f47A 4m (See Report to Government to December 30th, 1S78,
BANKKRS
just published.)
PiiospECTUs, FuHus, Ac, may be had on applica-
STATE STREET, BOSTON.
40
tion to the
DEALERS IN GOVERNMENT SECURITIES
260
HEAD James EDWARD
^t.
State, Cit7, Connt7 and Railroad Bonda.
H. Peck,
F.
THEO.
&
Curtis,
A. petit.
WM.
Southern Bankers.
21
Co.,
MJVBSTMKNT
UUOKJtRS,
and
InforoLatlon
.
COBBXBPONDKHT8— McRlm Brothers *
AW
To.
A. K. W11.KXB, Cashier
First National
Bank,
WILIfllNUTON, N.
Brlgga,
C.
all
Cor.of Monts«a«
This Company
THOS. p. MILLEB, R. D. WII.LIAMS, JKO. -. UILLER CHAS. B. MILLEU.
Thos. P. Miller
&
Co.,
NOYES,
classes of and Miscellaneous Securities not actively dealt In at the New
R. A. Lancaster & Co., BANKERS AND BROKERS, 66 BROADWAY, NEW YORK,
mlnlatrstor. It oso sot as usnt In ths aslsor niaiianmsl uf rssi estate, oolleet lntei«at or dlrldenda, rseslrs refflRtry and transfer tHmks. or make porcDsas sad sale of Government and other seeurlllaa. Religions and charitable Inatltatlons. and mrioas nniiccustomed to the transaiTtli>n of bualnsaa. wilt and this Company a safe and cmreoient deuosltorr for money. HIPLKY RI)I•K^. IIUHBAKI). AsHt. Vlce-Pres., Boston. WM. P. Watson, Sec. and Treas..Ctuca«o.
& Co*
'Wall St.,
«^
YORK,
Offers to investors C4irefully-8elected securities bearing frtnu « to 8 per cent interest. Investment securitloe btjUKht and sold on commission. Settlements made u»r holders of defaulted securities. Will act as agents in funding and reorganizing debts of municipalities, railr «d companies, and other
Co.,
BANKERS and BROKERS
BANKERS,
CONGRESS STREET, BOSTON,
CAFITAI. STOCK,
SsefMarj.
In addition to a General Bankinc Boalneaa, boy and sell Government Bonda and InTestment Sscurt*
UNION BUILDING. CHICAGO.
FInaneial.
Kf.w kork.
Wk.
Sheldon.
NOS.Sl No. 19
Dodge, Potter
NE(;oTIATRn.
INTKUKST ALLOWL-n ON DEPOSITS.
Special attention paid to collections, wM,h prompt remittances ut current rates of exchange on day of
R.
BANKERS, CEDAR STREET.
11 jrtart mimitrthif
DEAI.KHS IN
First-Class luvesiiueiit Securities. GUVEKN.MKST BONDS, STATK. CITY. COUNTY, KAILKOADA MlSCKLLANKillS SBCOKITIBS
BANKERS,
Clinton tu., Brooklyn, N. T.
EDWARD POMEROY, W.H. COX, JR., OSCAR IkSMmi
ALSO. Investment
MOBILE, ALABAinA,
k
anttaonud by apsetal ehartsr to act as receiver, traates, uardlan, sxwnitur. or a«la
.'t tbe New York, I'hlludelphla and H-.-' Kxchangea, either for cash or on margin, ^peclal sttenuoa given to Mining .^tocka. Jos. C. Wai*ott. Frank r. Dickinson. Members N Y. Stock and Mining Bxchaosea.
NASSAU STREET,
oarta nf tbe Un.ted State*
/-.—
B. Chlllenden.
The Brooklyn Trust Co.
.
CoUeetiona nude on
) Ronds OF THE STATES OF
City,
.\IISSOURI, K4NS.4S and
1880.
DIVIDEND
6.
The monthly dividend of Twenty-Five Cents per share has been declared for May. payable at the office of the Transfer agents. Wells, Fargo & Co., 65 Broadway, on the 2l8t inst. Transfer Books close on the 15th inst. H. B. PARSONS, Assistant Secretary.
WESTERN
All Classes of Railroad Bonds.
TOREV
&
KIRK,
No. 4 Rroad Street, Nenr ITork.
W.4NTED
All kinds of MISSOURI and UNION TELEGRAPH FAULTED COUNTY BONDS. full
COMPANY. New York. June 9. DIVIDEND No. 52. The Board
NEBR.ISKA
ALSO, No.
1880.
price paid for them. address.
of Directors have declared a quarterly
dividend of One and Three-Fourths Per Cent upon the capital stock of this company, from the net earn, ings of the t^ree months ending June 30th inst., payable at the office of the Treasurer, on and after the 15th day of July next, to shareholders of record on the 19th day of June instant. The transfer books will be clothed at three o'clock on the afternoon of the 19th day of June instant, and will be opened on the morning of the 16th day of July next. B. H. ROCHBSTBB, Treasurer.
124
Give
ILLINOIS DEHighest market description, autf
_ L. A. COaUARD, BANKER AND BROKER, mo. N. Tblrd street, St. Louis,
N. T.
Beers, Jr.,
SECCRITIES, CITY
BROOKLYN
Gas Stocks,
No.
I
B051DS,
dee..
NEW STREET, NEW
YORK.
\
»
xmm HUNT'S MERCHANTS' MAGAZINB, REPRESENTING THE INDUSTRIAL AND COMMERCIAL INTERESTS OP THE UNITED STATES. lEntered, according to act of Congrees,
VOL.
In
the year 1880, by
Wm.
B.
CONTENTS Railroad EamlngB In May, and from Jan. 1 to .Tune 1 613 610 LatoKt Monetary and Commer-
Cotton Coneuinption in Europe 611 The New BUI Taxing Banks... 612
S.
cial JCiiKliiih
Conuiiercial
News
015
Railway Stocks, Foreign Exchange, New York City Banks,etc 617 ties,
THE COMMERCIAL
1880.
12,
TI.ME8.
626 Dry Goods 632 626 lmi>ortH, Exports and Receipts 633 631
BreadstnilB
%ht
believe that they will continue to earn
We
the coming year.
two weeks
and
since,
much more during
gave our reasons for
it
is
this opinion not necessaiy to repeat them
the public seem to have realized this now, and a better feeling prevails. In our merchandise markets the recovery will be slower because the disease was deeper. And yet there are evifact
dences that a change has begun. In referring
i»
last
.Saturday
issued every Satur
TERMS OF SUBSCRIPTION-PAYABLE
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ly
office.
it
—
—
thirds of the country's entire imports
before that, a decrease of
movement
Wfek enttinff—
enttinff
—
20
y,273,0(X)
"
23!!"!"!!!!!
7.848.877 13.878.046 9,910.917 11,724,181 8,532.763 11.503.695
"
30 7
•'
" 27 Mar. 5 " 12
19 26
We
cite
these
excessive speculation, and which for
subsequent weeks
we have
Week
falling
oS
under session
it
May ••
1*!"!!;;:!::;
"
21
fA.938,079 IS.iK 3,708 10,908.843 11,489.090 11.872,362 ».480,4&5 11.678.680 a,982,4»7 7,316.690
28 June 4 •'
showing that the excepas a measure for on the contrary, from data in our pos-
figures, not as
of last
—
week may bo taken
seems not improbable that the
week
raltie.
AprU 9
$8,469,472 8.207,346
tional total
suffered
Value.
Feb. 6 • 13
April 2
a time has overcast
But the
will
'
about passed through the temporary cloud produced by
The depression we have
$4,362,004.
be more clearly seen by bringing together the totals for a number of weeks past, as is done in the table below, showing the weekly figures since the beginning of last February. the
"
This week seems to furnish evidence that we have
.were smaller than in
any other week since the middle of last January. Compared with the preceding week, the total, $7,316,695, shows a decrease of $2,065,802, and compared with the week
•'
REVIVING CONFIDENCE.
checking the movement, and
reaction. This would appear, has already set in. The imports week at this port which usually receives about two-
reaction, last
current and the large stocks held here effect of
month would witness a
that the present
in
AdTerllsementB.
that has
taken place in our imports under the stimulus of the recent high prices, we stated that
must soon have the
day morning, with the latest news up to midnight of Friday. [Entered at the Post OfBce at New York, N. Y., a.s second-class mail matter.]
i
to the large increase
the low values
CItrcrnicIe.
The CoMMEKaAL and Financul Chronicle
our markets.
781.
I
Cotton
all
NO.
C.\
here, especially as
Quotations of Stocks aiid Bonds 020 Now York Uioiil 8t«urltieH 631 luvestnientB. and State, City and Corporation Finances... 622
Securi-
Commercial Epitome
014
aud MlHcellaneoug
News BANKERS' GAZETTE.
THE Money Market. U.
WMhlngton, D.
of Con»treM,
Beyond a doubt, bonds and stocks of eeUbluhed roads are worth more than they were a year ago. The roads are earning much more, and there is every reason to
THE CHRONICLE. viceB
Ubmriau
been.
Reviving Contlclencc 609 BaukB— Their Nature aud 8er-
1871. inquire at the
lu the oBice of the
SATURDAY, JUNE
30.
WILLIAM B. DANA, JOHN o. FLOVD, JK.
& Co.,
Da!«a
total for the cur-
be larger by several millions
—
but as an had begun to think, indication that there are already evidences of a smaller with regard to merchandise, that there was no limit to movement. Undoubtedly, there will continue to be fluctuaconsumption in this country, and with regard to stocks, tions in the volume of our imports, but the tendency must that everything bearing the endorsement of a railroad must be downward. The country is in an excellent condition; but, through continue hereafter to show a monthly rise in value. These no longer prevail. fancies the speculative prices prevailing here, we have flooded Of course, during any such reaction, reason does not ourselves with foreign goods. It was necessary that imgovern the public mind. "We have seen the best illustra- ports for a time should be checked, so that the people As the first tion of this at our Stock Exchange. There, all securities could begin to absorb the accumulated stocks. have declined, from week to week, almost regardless of condition is now being realized, the latter will soon be in comparative merit or value. Our monthly railroad earn- process, and it will not be long before oui import trade ings, published to-day, show what a foolish panic thie has will again be on a sound and healthy ba8i&
has been, as
several times stated, the result of a
necessary and healthy reaction.
We
rent
will
IHE CHRONK^LE.
610
BANKS— THEIR NATURE AND
SERVICES.
son's figures
frequently surprised at the extent of the literary
One is work which some
and
xxi.
[Vol.
there are in this
country
three hundred thousand million dollars worth of
produce
illustration,
Two of our active business men are able to transferred from producer to consumer every year. Our remark applies to no one, whom we to three tons of food on the average are moved from field can at the moment recall, more fully than to Mr. Edward and pasture to subsist each man, woman and child; moved Quantity of course would cause no surprise, if not once only, but twice or three times or more. The Atkinson. He is one of grain must be taken from the field, thence to the country it were not that the quality is so admirable. accomplish.
those thoroughly useful writers
who
think
it is
no objec-
store,
thence to the railway, thence to the
hay and
mill,
thence to
must be moved about dust) to have it interesting and practical. Having been a until they are turned into butter, cheese, meat, and merchant and manufacturer, while at the same time being exchanged for sugar, tea, coffee, spices; each kind must be a close student and observer, he becomes by this very distributed, worked over, converted from one form into Only conceive, if it is •combination of acquirements best fitted for an instructor. another and at last consumed. We have other men of the same type among us and in possible, of the number of the exchanges involved in effectfact some of the ablest English writers of the day on ing these results, each one requiring, as a precedent condition to an Economic Essay (which
usually
is
as-dry-as-
the baker's oven; the
roots
;
political, financial
and commercial subjects are merchants,
for in applying theories to commerce, they modify their
theories so as to accord with the actual conditions of commerce which their experience has taught them exist. Theirs is
not a theoretical world, but a practical, actual one. The latest work of Mr. Atkinson at least the latest
—
—
we
tion,
the transfer of a credit, or payment.
And
yet all this is going on constantly, and so smoothly and silently as not even to attract observation; in fact, we doubt if one person in a hundred has ever thought how extensive is the mechanism that makes it possible. What the merchant's ledger in the country store did for the
primitive community, convertible bank credits are doing Harvard University. fqr the nation. The store is a possible instrument only His subject was "Banks and Banking," and his object within a limited territory, and when wants are few; but seems to have been to familiarize the hearer or reader with as Mr. George S. Coe stated in an address delivered last the nature, and the services to commerce, of these institu- year no sooner does a community grow into commerThere could be no more useful or practical purpose cial importance than a bank becomes a necessity, an absotions. than this, for there is no subject about which greater and lute need. Consequently, we find that some of the very wider ignorance is displayed. In consequence of this ignor- oldest institutions in this country and in Europe are There can be no commerce without them and comance, and relying iipon it, political demagogues are all the banks. merce can only expand as they multiply. The Bank of banking system showing its antagonizing our not time defects and providing a better, which would be m the line of North America in Philadelphia was formed by Robert
have seen
is
an address, issued now in pamphlet form,
•delivered before the financial club of
—
:
—
progress, but simply seeking to excite popular prejudice
by calling
it,
and thus making the many
•thinking for themselves
—believe that
—who do but
it is,
little
a machine organ-
The course a good illustration
ized by capitalists to crush out labor.
of
legislation at Albajiy this "Winter, is
of
this
spirit,
the ruling idea seeming to be to tax, without
regard to the power to pay the process
it
it,
all
banking
capital,
goes out of existence as such, so
and
much
if
in
the
to be able to welcome Mr. needed to put this question .«mong the settled, self-evident ones, is to have the facts re.garding it known, and to secure that they must be simply
"We are
pleased,
effort.
;
;
;
town and in every village the first existing banking organization dates back to the period of its earliest importance, its very beginning, as a centre of trade. It is of
course impossible in a newspaper article to
more than
better for the people.
Atkinson's
the Colonial Secretary the Bank of New York was founded by Alexander Hamilton the Manhattan Company Bank was inaugurated by Aaron Burr and all of them are over one hundred years old. So in every
Morris
therefore,
All that
is
in this general
way how
spontaneously out of commerce, do their work.
by the mere casual observer physical impossibility to
it
make
is
seen that
all
show
banks, thus generated
it
But even would be a
these daily payments,
had we the money to do it with, and to hold sufficient Furthermore, told, so as to meet the popular comprehension. For, in truth, money would be utterly impracticable. the bank, instead of being inimical to the producer, is his even if we possessed the money and the power, the cost of chief ally; it is purely the great distributer, as necessary to actual transfer of cash would more than double the •commerce as breath is to the body. The old country store price of every commodity to the consumer, while it would is the original bank, or substitute for one, of a primitive shut out many of the more remote producers from a -community, where the one farmer who raises eggs, and the market. One can see clearly the force of these observaOther who raises wheat, and the other who raises sheep, tions by recalling the leading features of transactions and the one who spins the wool, all bring their products to daily occurring between the Liverpool merchant and Substantially, the practice is somewhat have them exchanged, which in the absence of a medium the West. The merchant cables over his order, and by •of exchange, can only be done by entries in the merchant's like this. ledger. Each producer makes his deposit, not in money, making arrangements with a Liverpool banker, he cables bat in products valued in money, receiving a credit; and over his money, too; his agent in New York telegraphs then these farmers (depositors) exchange commodities by out the order to Chicago, and by arrangement with simply transferring credit. What should we think of the a bank here, has the money also at the same moment and then the Chicago merchant repeats the farming community with Buch a store in its midst and there doing this work for it what should we think if it were to process, and it may be that it is again and again repeated tax the store so excessively as to drive it into another until from the farms of the West the grain is on its way. county or State ? Perhaps not a dollar of money has been transferred during Such in miniature represents the relations existing all this time, and more likely than not the whole transacbetween our country's commerce and its banking system. tion has been done upon a bank credit obtained at LiverThe railway, the steamship, the butcher's cart and the pool, which is discharged only on the arrival of the grain grocer's wagon are the vehicles which apparently do the there and its final sale and transfer to the actual conj distributing, but the banks are the power back of them sumer. ;
—
that keeps their wheels in motion.
J
Adopting Mr. Atkin-
Now
the question simply
is,
for every
man
to answer.
I
June
we
shall
THE CHRONICLE.
12, 1880. J
tax these labor and
money-saving machines
until
they are crippled, and the service they render becomes more
But, as
611
we have remarked in previous review* of these most interesting or useful way of studying
the
figures,
we in framing our laws act with such them is through a record which exhibits the monthly protowards them as to encourage their growth. Of gress in consumption. As hereinbefore tUted, we hare
expensive, or shall liberality
wo do not by any means object to ta.xing banks. revised the earlier months of this table to correspond with They should be taxed. But we do say that it is for the Mr. Ellison's revision. We notice some criticisms on the interest of every one of us, rich and poor, and more fact that revisions should be required. It is of coane especially for the poor, that we make the mistake of taxing disappointing that such is the case, but we beiioTe them too little, than that we make the mistake of taxing they are inseparable from such a report. The taking* in actual bales are matter of record, but the srerthem too much. course
COTTON CONSUMPTION IN EUROPE. We have just received our cable dispatch containing the movements of cotton
figures of the
in
Europe
June
to
I
from Mr. Ellison's circular, issued at Liverpool, Friday, June 11. In our tables it will be noticed that the consumption for some of the back months we have revised to correspond with Mr. Ellison's revision in his
According
to the figures
now
latter
we suppose
there will bo doubt on tho last two points, which |can only be definitely solved in subsequent monthsL Our monthly record is as follows.
COKSCMPTION
last report.
Poumls.
400
irtek,
lbs.
We
r)2,000 bales.
notice that
other authorities are inclined to think that this
cannot definitely decide such a question as
is
Of that,
Mr. Ellison's figures are prepared with great
some
an exces-
course,
we
but think
care.
Great
Hritiiln, October, 4»a weeks. Continent, October, 4 weeks.... ..
100.800.00(1
i 52 .000
80.200.000
200.50O
50,I3a
181.000,000
452.S0O
106 125
90,400,000 91,800.000
248..'>0O 2'J0..'\OO
02,12» Sl.OOO
191,200,000
47B.OOO
113.125
113,400,000 93,GO0,O0C
283,500 231.0OU
63.000 52.000
207,000,000
517,500
113,400.000 104,000,000
283.500 260,000
217,400,000
543..'500
104,000,000 93,200,000
260,000 208.000
e^.ooo 52.000
187.200.000
469,000
117.000
117,000.000 83,200,000
202.500 20^^ OOO
69.000 V) naa-
200,200.0011
600,500
130.000,00*1
104,000,000
325,000 200.000
05.000 52AI0O
234,000,000
585,000
117,000
91,200,00f 83,200.000
228,000 208.000
l».00O 52.000
174,400.00(
436.000
117.00O
869,200,00( 723,200,00<
2.173.000 1.808.000
62.085-
1..., 1,592.400,00(
3.981.000
113.740
Total October
Great Britain, Xovember, 4 weeks. Continent, November, 4>3 week«.. Total
Xotember
Great Britain, Dee., 4>3 vcekD Continent, December, 4>i weeks..
There
we will state later on, for believing that Great Britain may not continue at this same rate during the summer months. We now bring
Great Britain, January, i^ weelu. Continent, January, 5 weeks
total takings and conand in pounds and bales of 400 Europe to June 1.
Great Britain, Fcbmary, 4 weeks. Continent, February, 4 weeks
however, reasons, which
forward our usual statement of the
1
in all
Takinfjs and Consump-
tion in Europe.
Bales, 400 ponnAs.
Bales, actual.
Great Britain.
Continent.
Ortat
Great Continent.
Britain.
Britain.
Continent.
10,800,000 37,000,000 M.OOO Surplus Oct. 1, 18T0. 27,000 Deliveries to June 1,1880 2.005,620 1,83«.810 902,62»,000l789.82«,300 2,?56.322 1,974,570
Supply to Juno
Consumption
— same 1
time
2,030,221 1,820,33S 813,329,000 827,429,300 2.2»3,322 2,068,870 1,931,555 l,a81,8«0 869,200,000 723.200,000 2.173,000 1.808.000
Surplus June 1, 18-0 Surplus May 1,1880 Surplus April 1, 18S0 Surplus Mar. 1. 1880
98,064
123.281 164,003
242.391 218,518
44,128,000 104.228.300
'.10,000
55.000.000
139,000
260.000 230,000
203,782
74,058,190 87.117,690
185,000 217,000
222.000 212.000
94,400,000 80,112,000 85.061.120
Great BritVn, March, 4«3 weeks. Continent. Marcli, 4 weeks Total
.
March
Great Britain, April. 5 weeks Continent, April, 5 weeks Total April
Great Britain, May, 4 weeks* Continent, May, 4 weeks Total
May
Mr. Ellison lowers the average of the weight of bales Total
month, finding it up to June 1 to be 450 pounds for Great Britain and 430 pounds for the Continent, against 451 pounds for Great Britain and 432 pounds for the
5.00O
1
i
lll.OOO
117,000
Great Britain, Oct. to June, or 35 Continent, Oct. to Juns, or 35 weckt
this
1
B3.00O 52.000
sumption, in actual bales
pounds each,
/ta.
given, there appears to
sive figure for Great Britain at present.
are,
BtUem per
Bates
M
400
have been no change in the amount of cotton used by the mills during May, either in Great Britain or on the Continent, the former being stated to be still 05,000 bales per
week and the
age weight of bales and spinners' consumption are matters of estimate. So long as human judgment is not infallible,
from
Oct. 1 to
June
* This is really for only alwut 3>s weeks, the Whitsuntide holidays.
51.655
aUowam • boing made
far
'
As we have
stated above,
it
seems
to us
hardly probable
England will continue to use 65,000 bales weekly This lowering of the average is Continent, last month. through the summer. In fact, as we look at it, there most probably due to the larger arrivals and takings of East be great doubt whether Mr. Ellison has not overestimated India cottons. In spinners' surplus stock it will be noticed that
that there
is
a further decrease for Great Britain, and a
continued increase on the Continent
now reduced
—
to 110,000 bales, while
the large amount of 260,000 bales. for the Continental spinners to carry this date
;
furthermore, Mr. Ellison
the past month's consumption.
We
reach this conclusion,
from the fact that Mr. Samuel Smith of Liverpool and Great Britain being Mr. W. C. Watts both put it less; and in the second place Continent the holds we can hardly conceive how it can be so large, judging It is, however, usual considerable stocks at from the condition of trade in Great Britain, the late reports showing a relapse to decided dulness. This dulness includes in his Confirst,
which may be actually in has been in great part produced by, and is a natural result of, the decreased orders we are sending out for iron the Swedish and Russian ports, &c., places where no regular and other English products, but is also to some extent to statistics are kept, and therefore as soon as entered goes be attributed to the sudden check which is reported in the out of sight hence it is counted as in spinners' possession. To exhibit the total consumption thus far this demand from (^hina for cotton goods. It cannot be expected that the United States should make as large parseason, and for the same eight months of previous years, chases in England during the next six months as it has we have prepared tho^ollowing. been making of late. Our warehouses are full of foreign Total Bales 400 lbs. per week goods, and we must first consume them or at least bring CotMump., Pound* (000s omitted). Europe, Octohtr 1 to As to the stocks within a more manageable compass. Total Bates 400 Great Conti- Total Great ContiJutie, or Europe. Ws. Brit'n. nent. Europe. 35 Kecks. Sritin. nent. Eastern trade, doubt will hang over it until the Russian 869,200 723,200 1,592,400 3,931,000 62,085 51,655 113.740 difSculty is settled. 1B79-80. For these reasons we are led to con0,600 658,000 1,407,600 3,519,000 53.542 47,000 100,542 187S-79. clude that subsequent circulars of Mr. Ellison will, for a time 1877-78. 812,000 658,000 1,470,000 3,675,000 58,000 47,000 105,000 1876-77... 864,90ols6.'>.000 1,529,900 3,824.T.'iO 61 .778 47..'>00 109.278 at least, show a smaller consumption in Great Britain.
tinental spinners' surplus, cotton
;
THE (CHRONICLE.
612
THE The new capital,
NEW BILL
bill for
left
present writina;, ticulars
the taxation of banks and moneyed hands, and, at the
still
unsigned, differs in important par-
from the one which was vetoed early
last
XXX.
was approved in April which put State banks on the same footing as the nationals. So far as taxing banks,
TAXING BANKS.
the Governor's
in
[Vol.
month.
That one contained but the single provision that non-resident persons and associations doing business
all
under
the limitation just stated, is concerned, there appears to be already law enough under the act of 1866,
by the one approved in April and by the Supreme Court. On the other hand, a law extant by which trust companies are taxed
as qualified
decisions of the there
is
as
on a valuation equal to their capital and 00 per cent of merchants, bankers, or otherwise in this State, as priuci- their surplus combined, with a real estate deduction. pals, agents, managers, or as partners, " on all sums used Thus this bill is open to the positive objection that it " or employed in any manner in said business, whether would not only impose an immense tax upon outside " money or credits," be subject to the same assessment corporations, but would put a duplicated tax upon trust and taxation as if they were residents of the State. The companies. But viewing the bill in relation to public interests we new bill is less general in terms but wider in application and more specific in detail it is not confined to a single have found nothing in it which is useful and much that Fuithermore, in considering the tax class, and has evidently been framed with more care is ebjectionable. on outside banking capital we must inquire not whether than the other. It provides, by section 1, for a State tax of one-half per the tax is intrinsically just in its relation to home bankcent "on the average of all sums used or employed" in this ing capital, but whether its effect, as matters stand, will State by all foreign corporations that receive deposits, be beneficial. The bill already vetoed was fair on its make loans, sell exchange or letters of credit, "or are in any face, because it laid no tax in special terms, but declared ;
manner engaged
in business as
bankers" in this State. This
evidently less severe than the operation of the
section
is
vetoed
bill
would have been. The vetoed
speedily driven outside banking capital
bill
broadly that capital entering the State from without, to do any kind of business, should be treated, for purposes
would have of taxation, exactly
away but a tenant ;
It must be answered by the owners of from their standpoint alone, and will turn upon the other question whether they can do better with their funds elsewhere; if so, no consideration for the interests of the city and State will weigh in the least.
serious question. this
The
capital
probability
is
drawal, and that
that the it
will,
bill
will
induce such with-
therefore, result in injury
further depleting our local banking
by
facilities.
Section 3 applies to every bank or trust
company
organized under either State or United States law, and provides for taxing stockholders therein on the value of their shares.
Such shares are to be included
personal valuation of
in
the
the owners, at the place where
the bank
is located, without regard to the place of the owner's residence; the stockholder " shall be allowed all ' the deductions and exemptions allowed by law in
employed
This looks, on
capital
its face, like
a
and of securing to local capital the same conditions under which outside capital operates here; but the case was one of those which " circumstances alter." If a lame man is borne on the shoulders of a strong man, a proposition to cut a leg off the latter would hardly commend itself to the lame one merely because it would even matters between the two. The proper way of removing discriminations would be to take off some of the burden from local capital, not to put the like upon outside Equality thus secured would be capital operating here. genuine, and would operate to the general advantage, while equality attempted in the latter way merely extends to outride capital the overtax, and that capital throws off such equality by crossing the State line again, leaving a general injury, out of which not even local The injury capital can draw any material benefit. is that an expulsory taxation is evaded by flight, and business is injured by further crippling of banking facili-
may be ejected as surely, although not so quickly, by taking way out a window as by taking off the entire roof, and whether this capital can afford to stay, under any such burdens, is a
similarly
like
located within the State. of
distributing
disadvantages
evenly,
" assessing the value of all other taxable property ties. " owned by individual citizens of this State, and As we have heretofore shown, banking capital in " the assessment or taxation shall not be at a greater this city, under a tax pressure about double that of " rate than is made or assessed upon other moneyed Boston and Philadelp'iia, has diminished almost " capital in the hands of individual citizens of this State." 24 millions, or 28 per cent, in the last eight
The
proportionate deduction on account of real estate any part of the bank's capital is invested is also
in which
provided for. The remaining sections provide that a list of stockholders and " a full and accurate account of the " moneys, used or employed, andof the deposits therein," shall be kept; that in case the stockholder does not
years, while in those
two cities
it
has increased, until now,
although population here is more than three times, and clearings are over twelve times, that of Boston, the bank capital of this city
Boston.
is
only about $10,000,000 more than in
It is impossible to
add force
to this contrast
by
any comment. The point is that, matters being as they are, reside in the place where the bank is located the tax outside banking capital has come in to fill the void, and officers shall have the same powers as when an assessed thus this condition has had its injurious effects in a person has moved away, and the tax shall attach as a measure counteracted the lame man, lamed by shots lien to the shares; a'so, that the amount of all taxes from unwise legislation, has found a strong man to carry levied under the act shall be withheld from dividends him. It is now proposed to lame the other man also declared until the stockholder has paid it. but he will not stay to be subjected to that process, and There has evidently been a careful attempt in the provi- it would be far wiser to try to heal the lame one. This sion above quoted to conform to the recent Supreme Court bill must be regarded as a product of the unreasoning decision, upon which we have several times commented assumption, which clings persistently to legislatures, that So far, so good but this is a negative merit after all' it rests with them to decide how much banking capital
—
;
;
can hardly be deemed necessary to pass a law merely to reaffirm what the highest court has decided. Under that decision the national banks were already secured against discrimination in this matter, and a law for
it
shall pay. It
would be much better to look
at the subject
from another direction, and to try to attract banking capital hither instead of experimenting with its endurance.
June
THE CHKONICLE.
12, ISSO.J
RAILROAD EARNINGS IN MAY, AND FROM JANUARY TO JUNE 1.
613
OBOM BAHXIXOl
FKOII tUI. I TO JCXE 1. 1890. 1879. laeraM*.
1
month of May are excee(lin','ly comparison with the same month of 1879. The
The
railrciftd
reports for the
favorable in increase on the total earnings of
the roads embraced in the table below is, in round figures, about twenty-foar per cent over the total for May, 1879. This is a trifle below the perall
centage of increase in April, but still it is very large, and it will be noted, too, that the numl)er of roads reporting tliis month is smaller than in April. The directors of the Atchison Topeka & Santa Fe Railroad Company have voted not to publish the earnings of the road any more. This is a step baclt towards the dark ages, and is a direct hit against the Darwinian theory of the progressive development of man. We least expected such a measure to be adopted in Boston, and by a corjioration, too, whose great boast it is that it has maintained the only successful opposition to Jay Gould west of the Missouri River. The greatest increase in earnings for May is on the Wabaali St. Louis & Pacific, which now reports the earnings on about 1,720 miles of road, against 1,300 miles, or thereabouts, reported for 1879. The Union Pacific, the other mammoth consolidation, operated under the same control, does not furnish definite reports, but the Boston Transcript says that the estimated gross earnings show an increase of $544,000 for the month of May over the earnings of the three individual roads (now forming the consolidated line) during the same time la.st year, a gain of 35 per cent. The officers of the company make an estimate of the increase brought by new branches, and, deducting this, the roads show an increase of $327,000 for the month, or a gain of 21 per cent. The trunk line roads— N. Y. Central & Hudson, Erie, Pennsylvania and the Canada roads are all conspicuous for their great increase in earnings during the present year. And this increase is more significant with these companies for two reasons first, that they are operating sulistantially the same mileage this year as last; and, secondly, that their increase in net earnings, on account of higher freight rates, is quite as remarkable as the increase in gross receipts. As to these roads, the salient fact is pointed out that the whole traffic of the West must yet come over the five great lines from Chicago eastward, and the building of every new line at the West simply adds to the traffic which these roads must share. The Pennsylvania Railroad earnings from Jan. 1 to April 30 were analyzed in the Chronicle
—
—
May
on page 556, showing that on all its lines east and west of Pittsburg the increase in net earnings for those four months was $2,633,213— this increase alone being equal to nearly 4 per cent on the whole capital stock. of
1880. Gt. Southern Burl. Cedar Rap. & No.. Cairo & St. Louis' .
P.acific
&
Chesapeake
Ohio Alton
Chlcaijo & Chieairo & Ejist. Illinois. Chic. Milw. «
St. I^iuiaI'acillc
d:
Ceuirai
Chciuiiieake
Is.
Ohio
A
0,41
l,041.HSi4
6i.
:i7
2,7H6.1Mm
1,7J
...,..»0
&21.»V(
4.4i>9,. 1879-80. ewt. 44,0)17.410 35,203.72» Il,4.'i9.00a H,«1M,4I2 10,076.424 7,1^'^^
7,075,207
0.012,223
."S^ad
*(
434>a
New York
St. PetcrebiiTi: ...
4
>3
t
fCU
Ciiloiilta
During the greater part of the week the Htock markets have been in an unsettled condition, and the fall in American railroad securities have led to numerous difficulties and to three failures. Yesterday was settling day, and it was expected that several members of the Stock Exchange would be " hammered;" but the fact of only three failures having been made public, during the progress of the account, argues well for the stability of business. All the more prominent home securities were at one period rather depressed, but as soon as the account was arranged a more sanguine view was taken of the future, the grounds for renewed confidence being the somewhat easier tone of the money market, fine weather and favorable railway traffic returns. To these may be added the belief that the suspension of the Philadelphia & Reading llailroad Company is by no likely to affect general interests, or to involve other
companies in trouble. A feature on the Stock Exchange during the week has been an improved demand for Continental government securities. These have been somewhat neglected of late,
and
8onii:
Open
Paris
means
The following flgarM show the importu and exporU of cer«a|' produce into and from the Unit«d Kiagdk. «ompared with tk« corresponding p«riud in the thre« prerioos m*.
Bank rr.
«15
1877-8. iiih,;i,m-
l»7«-7.
i>4
2«.4fl0
I0.7I4.K74
:
IB* u%^
7 .547 ',.i
.
BZPom.
_
.^ . yi>««t Barley
1879-80.
CWt.
Oat» Pen* Beana Indian corn Flour
18T7-8.
187«>.7.
1.3S0.1H
707.3U5 4».215
44.3M) 67.747
tMl.050
7l.l2i 14,|i04
J7.13!i
10,0N3 324,834 103.570
17.171
180.075
1
55JOI
ao.77a
daily closing quotations In the
Liverpool for the past week, as report«d by cable, are the following summary:
shown k»
London Money and Stoek Mdrkit.— The bullion In the of England has increased £389,000 daring the week. June
Man. June
June
Wed. June
Tlmn. Judo
5.
7.
8.
9.
10.
62^4
82:% 98li«
Bat.
Sliver,
peroz
d. 52Si«
Consols for money Consols for account U.S. ,58 of 1881 0. 8. 4>3«of 1891 coiiiiiiiiii
62Xi« 08lia OS's 105>9
08iu OSSb 105>«
111% in>4
U.8.48ofl907 Erie,
ir.d
-:i
market Reports— Per Cable. markeU of London anA
EOKlIitta
The
1878-0. 1,30«,0H8
951.841 26,118 70.047 87.629 36,538 416,869 123,107
112 11114 34>4
33^ 103%
stock
Illinois ie
OS^u
98%
Bank Pri.
Jiid* 11.
53^ 98I|b 08*ia
105««
98»i« 105>4
105«i
111% lllU
l^-'V'sT
112
111%
112
IIII4
37>4
105% 6Hi
38%
1114s
105%
10(1>4
lO.'i
Si's
i2s more desire is shown to purchase them. Russian New York Central Liverpool Cotton JfarA«r. mess, ^ tierce. 63 Lard, prime West. )lcwt.35 9 Cheese. Am. choice " 71
97
97
10 3 10 3 10 3 4 lOia 4 10>a 4 10
6gi»6% 6H* a .. 7 &T4 .. a .
Thum. d.
«.
59 O 34 33 6
9 » ID 4 10
!V
973
lU
4 lO Frl. *.
«IL
59 34 35
O
» O
61
36 O 68 Tburs.
30 67
O
O
Frl.
d.
6V»6% 6>9»6% .... ® 6%a7^ ..
..
large business will
probably be done as soon as the fleet arrives, as millera' stocks are low ; but any advance in prices is doubtful as long as the weather continues so propitious. The English wheat offering of the poorest quality, and requires a large proportion of foreign produce to work it up. During the week ended May 22, the sales of home-grown is
"wheat
—
Imports asd Exports for thb Week. The imports of laak week, compared with those of the preceding week, sbow a decrease in both dry goods and general roerchandiMw. The total imports were ;i)7 ,316,695, against ^9.982,497 the pr*. ceding week and $11,678,699 two weeks previous. The export*for the week ended June 8 amounted to $9,240,630, against
in the 150 principal markets of England and Wales $8,042,822 last ^ek and $8,859,558 two weeks previous. Th* amounted to 26,677 quarters, against 53,672 quarters last year following are the imports at New York for the week endins and it is estimated that in the whole kingdom they were 106,700 (for dry goods) June 3 and for the week ending (for general ;
merchandise) June
quarters, against 214,700 quarters in 1879. Since harvest the Bales in the 150 principal markets have been 1,158,600 quarters, against 2,086,157 quarters ; while it is computed that they have been in the whole kingdom 4,634,400 quarters, against
General mdso...
4:
,
FOREIOK IMPORTS AT
NEW TORK FOR THB WEEK. 1879. $1,043,010 4,309.360
»1.3U4,S3»
$5.3.12,400 132.217.7 lo
417.3i6.68S 219,Cii
2'9 .
2 i
.
in; IIA
l7 11!)
Chlo.M.i!(2 Clllo.*N.W.. >(>
Mii.Knns.&T. Mr>r.& K»Hez.. Na»li.Ch.*StI.
NewCetit.Coal N.V.C. *H. I(.
N.V.1.;K.4W.
Do
pref.
N.Y.Ont.Sw. Northern Pac.
Do
pref.
Ohio Central..
UhloAMIu...
Do
pref.
PuoiHo Mull... PtiiiHnia
Phil.
ftUesdV
St.li.A.ST.ir
Do
pref.
St.UI.M.iSo. 8t.L.*8.Kran. •30
Do Do
pref. l8tprf.
85^5
3t.P.&8iouxC. pref.
Dt)
Sutro Tunnel.
Union Pacific. 86 Wab.St.L.AP. 31
Do
pref.
3tM
»7H
West. Un.Tel. DOg * These are the prices bid and asked; no »Ue m.
Total sales of leading stocks for the week ending Thursday, in prices for the year 1879 and from Jan. 1, ISUO, to date, were as follows:
and the range
—In addition
to the
Range
Sales of
Lowest.
Shares.
Canada Southern Central of N. J Chicago & Alton Chic. Burl. Chic. Mil.
Si
1)0
Chle.
Quincy
Pt. P....
pref.
do
pref.
& Northw
Do
Chic. Rock Isl. & Pae. Col. Clilc.& Ind.Cent. Hudson Caiia' Del. Del. Lack. & Western
&
&
Hannibal
Do
St.^o
do
Illinois Central.
Lake Erie
cSc
pi pref. .
Western
Ij»kc Shore Louisville & Nashv..
Manhattan Michigan Central Ml8.sourlKan.iTex. Morris
&
16,970 40 May 190,390 45 Mav 1.219 OJij Jan. 3.048 113 Juno 147,000 6613 May May 1.245 90 57,520 H7'4Mav 2,001 104 Feb. 4.765 149 Jan. 10,100 a«iMay 26,305 60 Mav 215.4:W 68 >s May 31,765 22"() Mav 17,325 63i«Mav 09^ Jan. 2 222 20i4M,^y 7.'850 202.560 95 June 3,175 86% Jan. 29,305 24 May 16,800 7ft May 28i«Ma.v 133,5'20 2,595 100 May i
do
Es.'*ex
Nashv.Chatt.ASt.L. 2.5.100 47 "a June 23,013 122 May N.Y.Ccnt.cS:Hud.Kiv N.Y. Lake K.& West. 47'2,456 30 June 11,314 47 May do pref. Do 8,000 20 May Northern Pacific 7,016 3'.l3sMay pref. Do Ohio & Mississippi .. 25,705 23 Mav 87,550 271s May Paeitli- Mall 8 168 Jan. Panama Phlla. & P.eading. 8t.L.IronMt.i!i;South
San Francisco
Do
pref.
lYe«r 1870.
Highest.
17 2.^
2 2
25 10 11
10 2 11
25 '25
74iaJan. OOVi Mar. 116 Mar. 152 Jan. 8.i39 Mar. 10714 Mar. 97 Mar.
45>«l " 33»«
8
29 2« 27
75
lim
784
80T« I00>« 134>9
25 25 2 11' 11
2 8 Is 17
Mar. 3li 79>« 100* 70% 76 Feb. 24 34
27,860 1,000 2,8'20
Range for
1
since Jan. 1, 1880.
Week,
St. L.cS:
remarks made above as to the situation of the stock market, it may simply be said, in brief, that a sharp and quick rise in prices has been followed by a partial and very natural reaction. An advance of ten per cent or more within a few days should reasonably find a good many parties who were ready to sell at so quick and handsome a profit. Aside from the feverishness and occasional weakness in the general list of stocks to-day, the prominent feature was the decline in the coal stocks, which fell off several points in the la.st hour of biisiThis was attended with the rumor that the Philane.ss. delphia & Heading owed the Delaware Lackawanna & Western -92,000 000, which was, in fact, but a new version of a report that has been around the street for two or three days first that there had been a large defalcation in the Delaware & Hudson Canal Company, and then that it was in the Delaware
.
m
Mulille.kOhlo.
. .
Railroad and ITIl»cellaneon» Stocks.
17
BU'.;
Vi\
&
.'f
II.
M
rt-K.
la'i
Do
Juno 7
The Bank of England weekly statement, on Thursday, showed a gain of f 389,000 in specie, and thepercentage of reserve was The discount rate remains 48 9-16, against 4tJ 5-16 last week. at 3 per cent. The weekly statement of the Bank of France shows a decrease in specie of 26,884,000 francs. The last statement of the New York City Clearing House banks, issued June 5, showed an increase of $205,600 in their surplus above the legal re.serve, the total surplus being $16,334,050, against $16,t28,450 the previous week. The following table shows the changes from the previous week and a comparison with the two preceding years.
Burplu.s
rrMar.
JUM
vent i^ 10*
«»
cent.
16.334,050 Inc.
>0.
iiu
>^ ST •M *u
.
June
iiieii
4» «7
Jir.VISIl, 1880-5 P. ITI. The jnoney Market and Flnanelal Situation. The New York Stock Market has this week experienced a reaction as sharp and decided as any movement which has been witnes-sed this year. The e-strerae depression of the last week in May and the fir.st few days of this month gave way to a l)Uoyancy of feeling and a rise in prices which was like the most active periods of 1870. In our last report, on Friday, 4th instant, the incipient but decided recovery of the market was noticed, and on the following davs this improvement was quickly pushed forward, and the advance in prices was rapid tnroughout the It was list, but with a natural re-action towards the close. generally conceded that the ver^ powerful movement to depress inHuence on the market for prices, which had been of chief several weeks past, had ceased, and the conclusion was drawn active bears had changed front such that those who had been and become purchasers at the decline. There has been nothing since to change this view of the situation, and the fluctuations and occasional weakness of the past two days have been readily accounted for by the sales to realize after an advance of 5@10 per cent, more or less, within a few days. The extended report of railroad earnings for May, and for five months of the year, as published on another page, is a very encouraging exhibit, and backs up the theory of increased value in raUroad stocks quite as well as the most sanguine bulls could reasonably expect. The money market has been very easy, at 2@3 per cent for call loans on Government collateral and 3@4 per cent on stock collaterals. Prime commercial paper is quoted at 4^@5 per
.
in
•Uii
June 30
83,043,900 Inc
iiii
litt i>rf
Clilc.8t.H.*M. Clev.C. C.&l. Cnl.ChlP.Vi.C. l)«l.ft ll.Cunal
FRIDAY,
.
W ISH
Cant. Paelflc.
Ch.8t.l..*N.s8, 1891. .ep. lOti^s Jan. Jan. 4s, 1907.... cp. 103
68,cur'ncy.reg. 12.5
Amount June
since Jan. 1, 1880.
Lowest.
$3,064,000 56,681,500 196.870,650 79,701,200 211,513,300
169.540,350 291,978,050 170,298,800 527,921,400 64.623.512
.
XXX.
fVoL.
—Latest
e.irnlngs reported.
Week or Mo. San A.April Grand'rruuk.Wk.eiul.May29 Gr't Western. \Vk.end.May28
1880.
—
1879.
.
/-Jan. 1 to latest date.-. 1880. 1879. $ .... $
$95,264 $85,412 175,221 145.838 96,744 74,030 Hunnilial.VSt.Jo.4th wk M'y 57,954 40,4'-4 Houst.cSi Texas C.April 247,807 158,318 Illinois Ccn. (111.). May 497,134 445.332 Do (Iowa). May 129,720 130.1-J8 Indiana Bl. &W.. 2d wk May 19,099 22,323 Int. & Gt. North.. 1st wkj'uo 20,388 19,699 March Iowa Central 89,581 54,.506 K. C. Ft. S.&Gulf.3d wkMay 19.058 17,412 Kans.C.Law.&So.3d wkMay 11,551 7,835 K.C.St.J.&C.B.4thwkMar 45,363 34.832 LittleRk. & Ft.S.M.iy 21,471 14,690 Louisv. & NaBhT.4th wk M'y 192,400 126,.531 Loui.sv.N.Alb.&C.March 70,436 49.224 141,5i Maine Central ...March 127,080 Minn. & St. Louis. 3d WkMay 12,565 7,673 Mo.Kan.&Texas. IstwkJ'ne 60,575 49,501 Mobile* Ohio. ...IstwkJ'ne 23,009 23.003 Nashv.Ch.&St.L..April 155,400 123,500 N.Y.& Canada.. April 56,120 33,307 JJ. Y. Cent. & Hud. May. 2,540,998 2.211.011 N.Y. L. Eiiei W..M'ril 1,643.151 1,372,755 N.Y.&N. Engl'd.M.ay 174.207 108.307
Gal. Harlife
3,931,543 1,914,421
3,432,176 1,076,291 785,499
918. 289
1,077,384 2,278,917 631,870
873,32.5
2,068,289 57ij,035
418,069 632,906 225,o00 422.437 250,077
379,119 617,344 157,706 289,876 150,387 379.559 106,441
399.5.59
170.218 3,040.783 179.392
721.711 220,263 13,089,001 5,836,708
2,124.526 129,968 322,793 145,147 1,070,477 787,973 593,316 118,593 11,135,145 5,034,099
368.502 209,044 1,734.284 917.0.57
wk May
1,929
1,12(>
Noithein Central. .^prii Northern Pacific -April Ogd. & L. Champ. 1st wk'J'ne
380,130 183.227 9,565 6,744 2,974
328.809
08,084 1,466,809
31,918 1,201,045
115.(>56
441,0(32
306,303
Wisconsin. 3d
^foltll
175,098 121,124 8,019 140.576 101,655 4,496 6,804 2,424 57,774 Pennsylvania April 3,488,366 2,030.022 12,794,679 10,314,553 PeoriaDec. .fe Ev.4thwkMar 9,530 4,784 Philadel. AEricAnril 334,947 215,007 1.132,304 878,130 Phlla..fe Reading. March 1,457,322 1,041.142 3,836,720 2,876,223 Pitts. Titusy. & B.April 55,700 41,704 167,593 Porte.Gt.F.&Con. April 17,354 8,654 Rensselaer &.8ar..\pril 104,.598 110,580 547,321 373,283 8t.L.Alt.,feT.H. ..4thwk M'y 35,833 24,014 331.078 514,095 Do (brchs).4thwkM'y 14,630 210,030 9,931 255,880 St.L. Iron Mt.& S.May 372,280 302,641 2,278,259 1,647,174 St. L.&.San Fr.an. IstwkJ'ne 42,400 19,800 985,574 451,387 .St.Paul&Duluth. April 39,131 27,041 148,432 101,527 St.P.-Minn.&Man.Miiy 281.899 268,057 1,194,.594 St.Paul&S.C!ity..4thwkM'y 554,'207 47,902 29.890 407.470 Scioto Valley ....1st wkJ'ue 5,143 4.100 118.017 110.578 Texas* Paeifio.. April 173,000 104,103 827,423 -24,122 Tol.Peoria* War. IstwkJ'ne 35,191 574,013 569,104 Union Paeiflc....lldvsMay 640.000 518,000 5,890,997 4,693,302 Wab. St. L. &Pac.4thwkM'y 278,698 172,035 4,301,809 2,996,648 Wisconsin Cent. 1st wk Apr 22,044 15,338 Wisconsin Valley. 4thwkApr 9,711 4,744 108,919 49,037
WkMay Patl.&Mcniphis..3d wkMav
Pad.4.324.'200 53,879.'2()0
54,125,300
31,ri3.100 31,093.100 31,001,000 31,186,200 31,144,800
less Clearinif-House checks.
totals of the Philadelphia
Loans
244.455 1,204,735 147,001 375,949
174,136 391,575 813,100 882,278 439,092 303,485 863,906 621,738
358,456 343,131 697,551 444,213
1
8 15 '• 22 t* 29 April 5" ••
..'.
"
19.;.'
"
26 3
May "
" "
10...
17 24 31 June 7
"
147 miles now,
bank!
Lawful Money. Deposits. Circulation. Agg. Clear.
*
333,563
62.10,s,7-28
are as Mar.
1,512,994
63,798,913 58.909.044 69.627.777
.'..
.
67.318,205 67.130,447 67.404.233 68,487,583 68.851,879 68,881,661 69,246.055 60.646,27« 69.594.048 69,513.412 68.870.718 6h.44S.002 68,080.061 67.457.1'22 67,623,'238
15,773.038 16.260.179 16.731 ..'i02 16,013.387 15,637.660 14,868,1)87 14.626.:!01
15,073.605 14,658.322 15,627.2-.!2
16.210.332 16.389,668 16.248,330 17,881.002 17,867.324
55,122.311 55.397.217 55.941,988 56.25.*is, new. .., 94^ 95 Chic. Clinton Dub. A MIn.... 78K 76i, Fltchburg KK., 68 cm. Sandusky * Clev 1'2X i2»;
do do
1
.
.
.
do
Concord
78
Fort Scott & Gulf 78 Hartford & Erie 78 Kan, City Top,* W., 78,
Connecticut River
108^ ,S«
Ist 78, inc.. ^0. 4s..,
114^
141
113,1s
do do K, City Lavrence & 87W 8?»( Kaa, City. St, Jo.&C. B. Is. llli^.lUH Kan.CliySt. .lo.&C. U.. In. 81 ...
.
.
& Ft. Smith, 78,!st 9»h'i00 New York & New Eng. is.... 100 1110 OgdensburgALake Ch,88... 100 1...
Little U't
.
|
.*,.
J: Passuinpsic 62H 83 38 33« Eastern (Mass.) •;7 80 Kasteru (New Uampsblre) 123 124 Fltchburg 80 Fort Scott* Gulf, preferred 7«W common. 47 do 76 K.C. Law. 4 Southern. Ei.Il K C. St. .10. ft Council luSs Little Kock ft Fort Smith ... 35J4 ....
39« Conn.
1
.
««.
..
tv
V u
Puit«r
>•,
iaiH4
»yra.l> f
r.Q
1
SS'*
10
im
8d p.-(f Wa8h. Branch. mo
Parkersb'g Br..9U Northern Central 9U
,v*
7 9t> Weatern Maryland HI 8U Central Ohio 6 Plttaburc ft ConDallsTlll«..90
Chesapeake* Delaware
2AILBOAD BOMDa, Obi* (a, 1880, J .ftj . It. 1388. A.ftC. do
Delawtire Division
2:k
Leiitgb Navigation Morris do pref Peansylvanla Scbuylklll Navigation pref,. do
Bait, ft
N.
W.
.
!08
.
loait
no
i(«M
.
Va. 8d m.«uar.,'8S,J4M 104
l««»
.
Pliub.* ConuelTav.'.s,'9S,J*J Nortbero Central I
1
2d m.ts.
'ai,. 6s. '^7..
...
I
101
m
Co.es,1»1.|...,
118 UK*
—
ll»
w
119
'2JX i«a *4 73 8d. M.ftN do 8s.8d.J.*J do «0M Union KK. lti.gaar..J.ft J., 108 Canon endorsed. 1U6 do
I04U
68.coup.*33
6b. 7b. boatftcar,rg..l9,S
SaiODehannaaa.coDD.. .9.8.'
Little Schuylkill lilnebill
do do
IwX
in. 7b. rg. 3911
Morris, boat loan, reg,, im. Pennsylvania Sa.co'ir.. '*ie. 10v< Bchuylk. Nav.lat mMj«.,t7. do '4d m. 64, reg., tXR 40
88
CalawlBSa
Huntingdon do
t.,1t >0»
!>.
Dela Istta. rt./M
ft
Delaware Division (a, cp.,*)!. ^^ U* Leblgb NaTKa.m.,*a. mt.."** ^. deb.,eaap.,*a do 1st m. Is, CD.. ^. do Ist ro.7s,'n
9a. reg. ft cp.,
do
CINCINNATI.
|
Catawlssalst.Ts, conv;,'a2...
Clncjanatt6*, long
cimt. in., 10s, '88 do new 7s mu do Connecting Ss, 1*»-1904
7s do r vmt do t'liTik South. KK. 7'3ua.t 1^7 85 do do 48. gold. 1 [08 lOtf do Hamilton Co.. o.. *s. long.. t 107 78. 1 10 5 yr8..t 108 00 7 ft 7-8US. Iong.1 1 10 do
.,1
f
Chartlers Val., Ist m.78.C..l90: 106H Delaware mort., 68. various Del. * Bound Br., ist, "8,1905 ... East I'enn. 1st mort. T
W'msport, 1st m. 58, perp do
ft
B. T. IBt
do do Co
'90.
108 ...
'2d '.id
in. 7b, gold. '»9. ni. f '.scrip g^Ts
lOT
gold.
IW
.
;
cm.* Cov. Cln.Uam. do do
.
78. fJ. g.'ii
ra. 78.
l8tm.
•
1
82
.
HarrlsburglBtuior'.Js. '8:U.
H.
r.] 1
lit
CIn.
Ham.
Bridge st'k, pref. lyo U. cojs.61, 19 5 104 ->
ft
7». ft
1905-fno
.
' Cln.* Indiana :sl m. is < '.id m.lB. '.T. do Colum. * Xenla, 181 m. 78, 'w Dayton * MIcb. Ist m. ;s. 'sK "44 m. 7b,'S1,+ losx do 3dm, 7b. '884 do Dayton ft West, Ist m., '81 „1 ist m., 19U6.1 do Ist m. (8, 1901 128M do
luj
lOSM
jifi
*iu7
101^ 10* 1
104 lot
.
do 21 m. 7b. rcB-. 1910.. do con. m.. 68.rg,.19a 110 eB.'p..l9.3 :io do do
Little Schuylkill. iBt
lOtX
2dm. iB. 'air 1U4 Ind., 7s. guar. .1 luu
ni.cons.78,^*. Ithaca* AtbenslBt g d, .a.,'«a Junction Ut mort. (is, '82 do 2d moH. «8. 1900 Lehigh Valley. 18t,68.cp.. 1896 lis do reg.. 189 j... do .ijd
.
BSOUBITIRS,
p.
PItlBburg 4b, coup.. 1913
do
dUOTATlONS
eoiiv.
Uaubaov.ft
Allegheny Count; SB. coup.. Allegheny City 78, rey..
Kl.ft
.
III
ao do
hamoklD V.a
Philadelphia
178,200
m.4.g.,
PbIl>deU>ala,9areK .coa..lMl lU do do 7*.rrg.,ltt llftM
38. cur.. reR H. tei., I'ta-im Ss. new, reg.,l«M-lMH 1141 Ss.lO-IS. reg.,liT;-'82. luii Cs. l.V'U, ret., imi-lt. 08, In. Plane, rec.,187t
do do do do do do
MM. a. >«, ep..i«i u
to eoas.ir,jis«.r.itll 'O .eg, ni.t*, •11
7s. Is, 11*4.1....
CITT BUKDt,
Lehigh Valley...
4-2.n02.800
20.... 278.098,100 27....277,8'*4,200
TATI ANU
ot
do deb. epa,oft M _ do mort.. fhlla.H'llin.ftB«ll.4
S
J.
Home
ayt
3
May.
Globe Greenwich Guardian Hamilton Hanover Hoffman
3
9
M.4.N. 1.4,1.
('ranklli}4Km[.
Uerman-Amer. Oermaala
2« aS
J. J,
4 J. 4 .J.
I16)<
187
8H
'4 J.
.J.
600
6 a 8
'80.
1\i Fob.. '80.
....
J.4J.
1.4 •J.
7 9 12 6 8 8
....
•80. •80. May, •80. •80. Hay. Ma;-, •80.
5
•79. '79.
7
4 J. J.4J.
80.
July,
3
OH
7W
J.
'io. •80.
'80.
3
«
J.ttJ.
Apr., Jan., .May, Apf,, Feb.,
May,
"H
1,000
500,000 300,000 300,000 500,000 200,000 SOO.OOO 1,COO,000
Uolambla...
S06 140
4
8 7
M.4N.
671.700 133.500 50,800 100,300 158.300 85,500 274,800 ISS.2O0 •2HOOO0 -48,700 lio.eto
5
8
8 11 8
7 8 2
187.800 58.600 , 200,200 73.5C0 81,100 837 .BOO 44.700 80,900 111,500 144,000 O7.50O 172,800 215.200 427.800 125.400 193.800
HU
Jan., •80. 7 247 Jan., '80. 4 130 ,Ian., "78. 8 '80. 4 Jan., '80. 3U Feb., July, '7h. Xii Jan., '80. 3>i .lao., '80. 4 121 Jan.. '80. 4
IVS.dOO 284,100 9Ktl.li 00 J. 4 J. WI.50O M.4N. 42.500 ISrf.HOO ti83,70O
1.000,000 125,000 1,500,000
Seyenth Ward. Second Shoe & Leather
8
4 J. J.4J. J. 4 J.
4ia,.500
Phenlx Produce* Kepnbllc
7 14
8
,035,1X) 10,500 J.
2,000,000 200,000 300.000 750,000
^
7
14
F.4A
2,060,000 100,000 400,000 500,000 2,000,000 500,000 200,000 1,000,000 2,000,000 1,000,000 800,000 3,000.000 100.000
111
J. J,
S,400 J.& J. 435,400 J. 4 J.
100,000 (KlO.OOO
People's*
.1.
« 7
A.I.
I.«
J.*
040,000 '144.!) 10
1
1,(XK),000
NewYori
M.AN. A.AO. P.* A.
253.1irl.
.000,000
i.ooo.oo'i
'80. 'SO. •80. •76.
...1
city Clinton
1276
0-3,200
04,100
Irylne Island City" ... Leather Manuf.
Fei, jAn.,
July
75il.0(Ki
Imp.& Traders'
Brcklyn Cltlzoui'.
8
8
l.OOO.Ood
.
*80.
10
Gallatin
.
',,
8
.001 HOC 31'5.7O0 72 J.500
Germanla' Greenwich* Uanover
Ja
10
600,IKK' S.HOO.OOti BOO.IhRI
(Jerman Am." German Ezch.'
.Mar, '80. » Inn., '80. 8 '80.18
Mjy,
AN.
I.*J.
Amsrtean t American Kxeb Bowery Hroalway
an
1.* J. I.« J.
.VI.
40,800 ;
SO.
,8H«.500 IBH.IOO
Fourth Fulton
First
Ian,.
8^
•80. •80. »(, '80. 5 *80. 8 *80. 3
Jtrnev CtlV— , Waler^lo«i,Iong..
Janoary -jjjjijj-
Improvement bonda.jjj^. iwo-w Beiges bonde
* July-
Januan * Jmy-
* J. ud J 4 O. Jaanary aad Jsly.
J.
1880 188»-l«a8
01
1881-M
"6
180O
>1
i
101 100 10' lot
THE CHRO^'KJLE.
622
The
Jvtucstmeuts
"the
AND CORPORATION FINANCES.
number
will
is issued every other month, and be published Saturday, June 26.
and items heretofore published in the Investment Department of the Chkoxicle since the last issue of the Investor's Supplement; annual is
an index
$41,951
$86,963 for Tarions improvements. The net earnings, as stated, were $132,358 The interest upon the funded and floating debt during the year has been 70,929
INDEX SINCE APRIL SUPPLEMENT. The following
$132,358 last rear
The expenditures include
Investors' Supplement
next
$378,223
of
TUB INVESTORS' SUPPLEMENT. The
expenses of every kind were
Net eamines above all expenditures An increase over the net earnings above expenditures
AND
STATE, CITS
total
XXX,
[Vol.
to all reports
reports are indexed in black-faced type 542 463 Macon & Augusta AUeitheny Valley 4U:J 563, 600 Manhattan Beach Co Aiu. Uuiou Te'.egiaph 541 Atch. Toi>. &San. Fe.433, 491 543 Manhattan Klevated 589 Marietta & Cincinnati .... 567, Aii-Ijue..43* Charlotte Atlanta & 466 463 Maryland Union Coal Co Atlantic & (Jreat Western 466 Menipliis Little Bock 433 & racittc Atlantic & 493 Metropolitan IClevat'd.ol9, 544. 589 Augusta & KnoxvlUe Michigan Centra! 491 544 Baltimore & Ohio 464 Baltimore lus
The receivers' report says : " As will terminate with the sale of the
:
$11,473 3,668 13,430
Equipment Leaving
26,888
$162,381
loss
61,561
$100,813
the duties of the receivers property of the company, ordered for the 31st of the present month, under decree in foreclosure of the first mortgage, it seems proper to briefly review the operations of the road from April, 1876, when the property came into their possession, to the present time." * * " They have endeavored, in pursuance of the policy adopted at the outset and approved by a large majority of the bondholders, to use surplus earnings of the road, as far as possible, in .such substantial improvements to the property as would enlarge its earning capacity and consequently enhance its value ; much has been accomplished in this direction, and the decreased cost
I
Junk
THE
IgSO.J
1-3,
CHRONlCLfci.
of operating the road, from year to year, giTes evidence of the \¥iHdoin of the expenditures. •' Much Htill remains to be done to put the i>roperty in firstclass order— the main items of necessity being new rails on the
older portion of the road, several new bridges, and the coraph-work of filling the trestles, all of great importance. The road-bed is in excellent order, and the rolling stock in good repair; several of the locomotive engines are so worn out as not to be worth rebuilding, and all are too light to do the busiiness on the western portion of tlie road economically. True economy demands the purchase of at least two heavier engines, which should be ordered for delivery in tin^e for the autumn tion of the
business. "The receipts of the road since April 5th, 1876, have been For the year eiidluK March 3l8t, 1877 $384,.'ifl(l For the ycitr cncUuj? March 3lHt, ln78 408,4Ih:i For the year eiiiUng March 31«t, 1870 420,7(15 For the year ending March Slat, 1880 4(HI,J)Ili
is now submitted for your aoeeptanee. The ol)j.-ct of tb« amendment is U> give the company enlaiffed fai6
93 18 etrictOrd.. 9",o 9i3io Good Ord.. U)j6 10",6 Str. G'd Ord lOiSin 1016,8 I,ow Mllld'K ll'i« ll'ui Btr.L'wJUa 1111,0 lliiin Middling... 11% ll"s Good Mid .. 12518 12»,6 fitr. G'd Mid 12»18 120ia Mldd'g Fair 131,8 13ii«
»»lr
00
00
998
3m 998
Tb. Fri. 9 95,6 91^,8 9I3 1011,8 1038 111,3 llO'a 119,8 ll'lB 1113,8 11^
11 12718 127,8 12li,8 12>ll8
127,8 127,8 I211l8 12'lll8 12'ii8 121 1, 133 133,8 13>16 133 I
13111,5 1311i8i 1311,, 13i:t,8
Wed
11
12' ?;7..
12=18 12»18 131,8
Ordio'y-'SID ni4 Strict Ord. 9^8 Good Ord.. 10»8 atr. G'd Ord 11 liOw Midd'e lll2 fitr. L'w Mid 1134 Middlinj;... 1115,6 Good Mid.. 123« fitr. G'd Mid 1259
12
1
i:ii-!|
Wed
Til.
00
Sog
oog
•ice ixt
00 on
C3U
CO
CO
00
00
9=8 CO*.
I '
98 o
00 an KM
Ifs
93lio 9iS,«
99
'
00 -IJOU
i-So
I
= ?S
998
9»18 9li,8
i^S to
«•"
998
!>>18
9:'l»
==s
COOm
93,8 Oi:*l, 91*18 914,8 915,8 915i, U)«,6 lOiiia 10" 18 1011,8 1011,, 1011,8! 1011,8 lOlSii lUls 111 lUlO ll'is ll'lB ll'io 11»16 U^l
•I
00 9=8
-1-1
go
l."3,8
o?
998 OSS a>-i
00
00
l®« ,98 a
l«» lis
998
00
CO
00
-i-i
-ja (CO
a-i
998 M-i ua
998
998
'
«-i
I
I
00 §§^ !.*§
998 «9 eo aa
s,-
^*-^
992
a-i MS 00
r§.
COJ -10
13'-ii8 1313,8 1313,,
i:!i:
FrI.
Wed
Tl>.
FrI.
I
Mldd'gFair;13is il3% Pair...
12
10
10^ ll's 11=8 1178 121,6
12
12^3 1211,8 12% 133,9 131^ 1313,8 137b
STAINED. Good Ordinary JLow Middling Middling
9
B),
Strict
914
9 9^16 9=8 101,8 1013i8 lOlfi 113,8 11 1111,8 119,8 ll'sJell'^s 1218 1218 129,6 12-'B 1213,6 1278 1.35,8 1338 1315,8' 14
10
10% 11>8 11'^ 11 'rt 121,6 12lj 125t I314 1378
lU5,e
117rt
12ie 12=8
1234 1314 137,
121s 129,8 121318 135,9 131*18
Sat.
Mon Taea Wed
124
1'27,8
Good Ordinary
9 95,6 101,8 9'Si 1013,6 lOi-j 113,8 11 llii,c 119l6
914
j
8\
8%
127fl
1338
14
%\
»13,8 978
913,8 913,8l 913,6 109,0 10»,8 1109,9 1058 11^16 113,8 113,8 11>4
Th.
FrI.
878 8:ii 915,8 9-Th 1011,6^1014 115,6 111
is.: I
li
00 wo So -i-i I
I
I
I
:
aa I
9-1
Mh-'X
SALES.
CLOSED.
«at.. Quiet imdtlrm... Hon. Dull and easier.. Tnes. Steady
Wed.
Con- Speo- Tranport, sump. ul't'u sit. Total.
steady at 1,9 adv. Thors Steady lit 1,8 adv. 1,000 401 Firm, rev. quo. .. Total
The
FCTDRES.
Ex-
96 459 250 703
2,908
248
67
Ki.'j
274 334
"16
2."J3
411
77
Delivtiales.
eries.
83.800 108,700 56.800 70.500 78,800 91,600
1,000
4.495 490,200
4,300
623 524 1,047 1,253
637
236 l,510l
00
I:
00
aui -icr.
«»» k-—
9-1 H-—
I
I
I
I
«: I
:
00 ^
So
>-»-x
-,-JO
I
I
M,
»» — ?»
£58
Transferable orders—Saturday, 11-70; MoDday, Il-.IO; 11-60: WtMlnesdav. 11-55; Thursday, 1 1 -65 : Friday, 11 -7.V Short notices for June-Monday, 11-54; Tuesday, 11-55: 11-55; Friday, ll-65aH-66.
The following exchanges have been made daring Aug.
I
-M pd. to eidi.
the
Tuesday.
Thundar>
week
100 Sept. for
An».
COTTotf, as made up by cable and telegraph, is as follows. The Continental stocks are the figure* of last Saturday, but the totals for Oreat Britain ar.d the afloat for the Continent are this week's returns, and consehii
'
MfSI
<
^
^^
North Carolina and Virginia.— 75 repliea from 38ooaBti«. Bevonty-tlve show au ucrcaHc of 10 iwr cent In ncreace aa oomparad with last year. Thirty-one ahuw uiDte. favoruble, :i>4 loaa (aTorsble, aod
U the Hanic! weather a« last year. Thirty -nix iibow gcKid itaod*, 31 poar Htaiids, ami 8 fall- Ktandn. Beveiity-tlvo nhow the c-nip uii averikxeofD w the condition oour, and 7 hIidw th« I'unilUloo the name an last year. Labor In reported ox guoer cent luoreaae Is estahllibed. The weaUiar een mtanlnd. bat the recent raius have exerted a beneficial effect ui>on the crop In tlUa section.
Charleston Department covers the Slatt of South Cnrnlina, ami Is prepared anil Issued by the Charleston Cotton Exchange, through their Coiumltto« on Infonuatlou and Statistics, comimsed of A. Norden, Chairman, K. D. Mure, E. WUlla, Win. Ftttman, L. J. Walker.
Sonth Carolina.—72 replies from 80 counties. The acreage planted is reported by 64 repllea aa inoreaaed 5 to 30 par cent, and by 8 as about the same i\* last year, making an averace loerease lu the State of 11 per cent. Thi! weather np to Hay 31 U raportad as more favorable by 48, less favoi-able b.v 16, and abont the fame aa last season by 8. Stands are reported by H I as from good to perteet^ant by 8 as n»t as good as last year. The condition of the orops on May 31 Is universally reported as good to very tine, several reparong the llnnat prospect ever known. I>abor Is geneiikliy reported aa aoont toe lame aa last year, but, owing to the increase of aoTengfi planted. It U searoe la many sections, and it is feared that considerable land may have to be abuudoued or el.se whole )>lantaClons badly worked, which would bare The iisi> of fertilizers haa Inoreaaed in Vfvry eipialiy bad results. county, the estimates varj'ing from slightly more to 100 per cent. The the State Is estimated at 20 per cent. average increase tor
SaTannah Department. This report covers the report
Is
prepared and
.^tool, per bark Flora, 1,821 1,821 To Havre, per brig Hera, 1,003 1,005 Horfolk— To Liverpool, per ship Sumner R. Mead, 3,796 3,796 Baltimore— To Liverpool, per steamers Hlbcminn, 1,998 American. 1,651 3,649 Boston- To Liverpool, per steamers Palestine, 1,222 Parthia, Aleppo, 800 Bulgarian, 521 452 Massachusetts, 319....Hec^a, 160 3,474 Philadelpuia-To Liverpool, per steamer Lord Qougb, 1,100. . 1,100 IKjtiter,
Vbw
.
76.338 particulars of these shipments, arranged in oar usual form, are as follows LiverBreBarce- Vera pool. Havre. men. Keval. lona. Cruz. Total. 23,024 Kew York 13,122 1,173 1,104 6,272 3,353 N.Orleans 27,146 4,290 701 1,386 33,.523 2.906 Charleston 1,700 1,266 2.826 Texas 1,821 1,003 3,7i»(> Norfolk ..3,796 Baltimore 3,649 3,649 3,474 Boston 3,474 1.100 PhUadelphla 1,100 Total.
The
54,108
Total
3,320
7,972
1,104
6,468
1,386
76,353
Cotton freights the past week have been as follows:
tiverpool, steam d.
Do
8all...rf.
Havre, steam
Do
sail
Bremen, steam,
Do
sail
Satur.
Mon.
Tues.
hs^H
3jg®l4
3i6ai'4
c.
»18
9l6
9l«
»I.
9l8
"18
c.
''16®'S
7i8®la
7l8®'9
7,8® I9
^9»ie
»l2a)9l9
aai^s
'i6®'a >2®9l8
Riga's »SS»16
.c. c.
8ail...c.
'l6a>'S32 Tig®1532 7,ga)1632
Baltic,
Do
steam sail
d.
•23918 'isa's
ia®9i8 JiRaia
»18
•is
9l«
"18
»18
Jfl
^s
"s
>3
hi
Tier's
'^18®'*
»ia >9
1133®% Il32®«8
c.
*33
7ig-«1532 ''l8®"'32
lie® "3
'fl®»16
sall...c.
>3a»i«
'le^^ss >3®9l8 Tib®"*
'a3»16
Amst'd'm, steam.e.
Do
Fri.
3ie3"4 3l6®'4 3l«S>4 *3a*^i6 632®3i6 '>33®'l6 532®'!* '32®'l8 6,„a3j8
Hamburg, steam.if. Hn>»,a
Do
Wednes. Thurs.
932
1132®% "32® 38 *32
^32
"32®% 1132338 832
__*32_
—
L1VEHP0OL. By cable from Liverpool, we have the following Btfttement of the week's sales, stocks, &c. at that port:
May bales. Sales of the week Sales American Of which exporters took Of which speculators took.. Actual export
Forwarded Tetal stock— Kstimated Of which Aniiiricaii— Estim'd Total imiwrt of the week
Of
whfcli
American
Amount afloat or which American
21.
33,300 27,000 3,100
May 28. 35,.500 27,.300
737,(K)C
3,800 1,600 6.200 16,000 767,000
496,000 82,O0C 37,000 890.000 219.000
514,000 82,000 56,000 378,000 213,000
1,98C
3,000 8,500
June
4.
46,000 33,500 6,800 1,900 6,700 14.500 776,000 527,000 68,000 53,000 302,000 211,000
40.,')00
38,5(10
6,200 3,100 7,200 15,000 707.000 52S,000 83.000 46.000 332,000 2(10.000
Oct.-Nov NoT.-Deo AUK.-Sept Nov.-Dec Jan.-Feb
eiija 6»j3 ii\ 6»i* 6»ja
Sept.-Oot
pt
8n,c
NoT.-Dee
Vtt
Wehnesdat.
SEW York—To
To Havre, per6tcamersJanie3Barra8,487 Amcrlque, 680 To Bremen, per steamers Kbein, 061 Ilolicnstauffeu, .543 To Keval, per barks J. P. Berg, 1,650.... lias, 2,500.. ..Com-
DtliTtry.
Delitery.
June June-July.. OHig'asSj, July-Aug.. .6iii«a»3sj Au)t.-8ept...6iij«a2Sa2 Sept.Oct O'^xa'aH
Dtlirery.
6»*s2
June-July
A"i*
O'.^-'.ig
Aug.-Sept Oct.-Nov
a"»2
62333
June
S>*tt
July-Aiig Aug.-Sept
S"m
•..6?4
June-Julv
Jidy-Aug
Delitery.
Dtliter}/.
June
6'*ia
TlIURSDAT. Delivery.
June June-July
July-Aug Aug.-Sept
6*»$j 62333 eiiig 611ih
Detiverv. Sept.-Oct... -OaigSKn eiljj
OcU-NoT
Orlirery.
Ang.-Sept
June
a»ia Nov.-Deo
July-Auj;
6>*u
6%
6^
FlUDAT. Dtjitery.
J>elivery.
June June-July luly-Aug Sept.-Oct
Oot.-Nov
6% 6%
July-Aiig Aug.-Sept
fi^Hi 6i»33 638
June
C\
Aug.-Sept
SepL-Oct 6*t 6»»jj Oct.-NoT 6«»sa Nov.-Deo
June-July July-Aug
6^*2
June....*.
6*n A% 6U^ 6»i« eiJia
BRE ADSTUFFS. Friday, P. M., June 11, 1880.
There was considerable activity in the flour market. The extremes of grade have been in most demand. Prices wen pretty well sustained early in the week by the improvement in wheat, but latterly much irregularity and depression has preAs hot weather approaches there is increased anxietjr vailed. To-day there were no decided to reduce stocks in store. changes.
The wheat market was active and buoyant early in the week, owing to the very large export demand. The sales on Taead«y embraced No. 2 red winter at $1 32@fl 33, on the spot, $1 20 for July and$l 14^ for August; No. 1 white at $1 >•• $1 29)6 on the spot and $1 27@$1 2754 for June; spring, oa the spot, $1 20@ jl 22 for No. 2 and f 1 12051 14 for No. S. But during Wednesday prices receded 2@3c. for spota and l@2c. for futures, owing to dull foreign advices. To-day Um market was firmer; No. 2 mixed |1 27 for June and f 1 15HO f 1 16 for July; No. 1 white $1 24 for June. Indian com was also quite buoyant early in the week, with k brisk demand for both spots and futures. No. 3 mixed bronght 55c. on the spot, 53?6c. for June and 52?io. for July, but thera is recently a decline of fully 2c., and a comparatively dull trade, with les-s activity for the speculative account. Other grades are also lower, and Western yellow sold at 55c. To-day ths market was steady, with No. 2 mixed at 51@51i4c. for Jane and 50@50Mc. for July.
Receipts at the
West continae eseeaair^
large.
Rye
sold early in the
week
to a considerable extent at 98c.
oa
the spot and 97c. for July delivery, but the cljee is dull, droopCanada peas in better demand, and two ing and unsettled. boat-loads sold early in the week, to arrire, at about 826380. Barley is quiet, but there was a considerable busine-ss in St«t« It is proposed to make the duty on foreign malt.at 87^c.@$l.
Oata malt 25c. per bushel instead of 20 per cent arf «•'/«' '». at 41c. on Tuesday on sold 2 mixed No. sharply; declined have the spot, but have since declined to 38c. for spot and June. Today the market was firmer, with sales of No. 2 mixed at 38H'. for spot and June.
THE CHRONICLE.
632 closing quotations:
The following are
FLOOR. ^bbl.S !2 ."to* Ho. 2 4 00ffi supcrllae Winter 3 753' Spring superfine 4 lOai extras.. wheat Bprliig ^o XXiUidXXX... 4 50® Winter sbipp'Rextras. 4 50® 0081 Pyio XXaudXXX... 5 .
G2o®
litems
3 25 WheatNo. 3 spring, ¥ bu.$l 10 4 30 1 IS No. 2 spring 4 10 Amber winter ... 1 22 4 40 Red winter, No. 2 1 28 «oO White 1 22 4 85
«75 8 00
No. 1 white
5 25® 5 50 4-ioa 5 Go
Western 'rye mix"... City ablppiuK extras.
Boutliern, baKers' and family l>randa South'ii sUip'g extras. Eye flo\ir, supertiue.
1
Corn— West, mixed West'n No.
2,
75® 7 00 Rye 5 03 Oats— Mixed White 4 00® 4 90 5 5
2()3i
2 SOS 2 8.J 3 103> 3 16
Western, &c Bi'andywiue, Ae....
State, 4-rowed... State, 2-rowed...
®1 27
®
26 26 52
50 ® 51iaa 52 ® 52 a 95 ® 37 ® 39 ®
bbls.
At—
(196 lbs.) 39,532
54 54 98
45.155 155 4,283 2,043 27.137 4,840 1,850
Uilwaukee
127,200 833,272 6,765 46,150 419,425 444,050 175,867
286.137 436,061 452,900
®
95
game
106
47.181 47.468
57,446 63,253
Total receipts at same ports from Jan. 1 to June for four years: „_„ 1878.
Wheat
1879. 2.834,456
1880. 2,481,191
bbU.
Flour
Oats Barley
Bya
99,545,835 79,771,817 Total grain.... Total receipts (crop movement) at the to June 5, inclusive, for four years: 1878-79. 1879-80. 5,579,012 4,831,016 bbls. Flour
Wheat..
Com.
.bush
..
Oate....
Barley Bye....
—
Total grain
.bbls.
Wheat
inclusive,
1877. 1,803,313
bush.
39,65.3.889
10.966,340 2,710,437 1,761,820
7,593, 85'^
81,730,597
49,000,189
2 541,747 842,558
same ports from Aug.
1
1877-78. 5,317,898
1876-77. 4.462,035
70,091.352 74,748,503 23,377.897 9,189,297 3,733,637
36.651,574 69,713.344 13,639,042 8,308,597 2,700,107
231,604,196
201,398,909
181,143,688
136,013,264
1880. 2,278,393
1879. 2,961.747
1878. 2,562,393
1877. 1,810,353
19,179,559 45,017,310 9,662,798 1,523,153
22.875,870 31,393,470 8,714,781 1,922,020 1,203,091
23,915.215 33,167,300 0,733,986 1,490,339 1.420.550
7,265,022 22,624,014 5,643,049 1,861.574 380,383
8.50,423
Rye...
66,111,233 66,727,420 37,973,982 Rail and lake shipments from same ports for la.st four weeks Com, Flour, Wheat, Oats. Barley, Week Rye,
Total gr.iin
76,833,213
....
:
ending— June 5
bush.
bbls.
May 29
May 22 May 15
bush.
bush.
bush.
bush.
142,395 2.551,753 3.813.638 803.706 125,969 1,801,004 3,305,287 1,002.431 120,752 1,614.696 2,793,761 718.770 114,349 1,555,4212,589,490 713.460
22,400 35,640 34,444 44.304 51,597 47,280 67,018 38,417
3.300.367 2,054,325
175.489 165.671 180,403 374,805
Total, 4 w'to!.503,465
7,525.882
4week8 '79. .514,472 8,362.203
t
111,325,331
•12,507,176.
Receipts of flour and grain at seaboard ports for the week
ended June
5:
Flour,
At— New York ..
Wlieat,
Com,
bush. bush. 104,070 1,681,422 812,450 3,750 304,887 39,176 28,931) 2,650 16,731 21.V.344 322,607 277,000 14,350 1,025,400 21.843 549,250 331.150 124.813 153,758 1 0,703 bbls,
.....
Boston Portland Montreal Philadelphia
BalUmore
Hew Orleans
Oate, bush.
Barley, bush.
567,330 121,600 2,500 10.275 164,600 12,400 18,975
Rye, bush.
2,024 5,000
3C0 16,171 3.000 5,000
week 209.526 2,831,579 2,979.212 8.?7,7O0 5,300 20.195 week '79.... 187,331 2,513,827 3,901,142 460,720 9.750 157,100 1 to June 5, inclusive, for four years:
Total Cor.
And from Jan. Flour
Wheat
Com
bbls.
bush.
Oat* Barley
Rye Total «raln....
1880. 3,807,007
1879. 4,350,574
3,693,942
27,985,059 57,484,877 9,872,180 1,580,178 700,470
36,700,372 50,465,118 8,557,031 1,423,78! 1,745,35?
31,232,619 51,166,206 8,190,148 2,313,153 2,074.635
97,623,364
98,891,660
94,996,781
1878.
1877. 2,963,415
~3,656,887 37,073,702 6,995,303 1,325.264 582,722
49,835,878
Bxporta from United States seaboard ports and from Montreal for week ending Jane 5:
Twm— KewYorlt Boston Portland
Flour, bbls.
61,208 14,535
^heat,
Com,
bash. 1,179,827
bush. 1,342,830
31,294
255.068
Oat«, bush. 2,746
lake,
rail
Wlieat,
Com,
busli.
bush.
800 1,971,790
Milwaukee Duiuth
1,804.595 122,995
'.312,648
298,616 425.242 50,000 239,002
Toledo
48,716 11 1.033 13,951231,240 94,011
and
canal,
June
5,
was aa
103.442 23.000 12.000 790,083 6,222,171 69.933 238,136 017,112
Oats, bush.
Biirley,
461.490
26.425 44.000 16.500 5.000 189,791 112,841
53.S18 31.318
83
"2o9
423.(100
33.000 9.150 463.416 75,325 76.677 14,742
bush.
Peaa, bush.
48,716
723
bush.
Rre, bush.
61,464 17,000 48,000
900
7.5,971
3.673 8,000 1,669
41.934 19.000 38,173
2.601 2,611
11,322
145,346 41,700 86,734
"637
14;89i>
804.197 91,500 43,000
22,400
35,640
Total June 5, '80. 19.580,257 16,407,750 2.944,805 20,394,104 15.784,336 2,730,496 May 29, '80 19.003,499 13,146.399 2.128.336 May 22. '80 .
436,.338
20,357.948 12,092.1012.024,787 21,241,333 11,747,740 2.003,791 13,001,133 12,135,640 1,603.039
63-f.787
301,486 363,394 402,550 430,693 500.680 593.397
Detroit
Oswego Louis Boston Toronto Montreal (29th) Philadelphia St.
1,211
243,129 99,369 235,327 10.043 16,800 52,373 318,000
.
Peoria Indianapolis Kansas City
Baltimore
On On On
1,53,925
rail
2,010,000 2,450,000
lake (est.)... canal (est.)
May May
15. 'SO.. 8. '80... 7, '79.
7.258,589 30,763,443
26.606.111
81,864,237 78,499.493 27,917,586 9.292,078 4,325.510
OatB Barley
by
Bulliilo 'Jliica^o...
June
82,994,971 107.451,117 27,014,895 10,241,304 3,961,909
Com
(est.).
.
Comparative shipments of flour and grain from the same ports from Jan. 1 to June 5, inclusive, for four years: Floor.
81,764
3,00J,634
8,401
60.000 380.069 120,941 140,300 530,411 114,075 96,100 149.157 180,681 668.043 4,145,595 1,730,000
.
2,575,501
25,763.471 38,429.103 11,957,774 2.250.332 1,369,167
20,610,34 62,949,487 12,601,461 2,374,425 1.009,9 21
bush.
Com
5,
2,8ti3,157
1,650,966
1,251.334 477,000
Albany
Weekly.")
Total
in transit
at—
Do. afloat
....124,995 1,764.8515.121,045 1.171.650 time '79. 126.275 1,674,386 3,924,613 809,853
DiUuth
5,8.50
129,645 8,650 33,126
and
New York
4,277 21,b25
Cleveland Bt. Louis Peoria
(S97,119 2,329,7il5
Peas, bush.
101,310
stocks in granary at the principal pointt of accumulation at lake and -seaboard
In Store
1,594 1,800 9,307 10,500
Detroit
bush.
79,018
follows
60,618 25,725 60,800 182.749 149,400
Toledo
Rye.
Oato, bush.
353.377 548,153 363,729
And 390 bushels barley. The visible supply of grain, comprising the
ports,
40 44
bush. bush. bush. (32 11)8.) (48 11)8.) (56 lbs.) 612,066 11,830 10,341 83,292 12,150 11,897
bush. bush. (56 lbs.) (60 lbs.) 387.4.52 3,066,014
bush.
103.993 257,557
•
51%
Receipts of flour and grain at "Western lake and river ports for the week ending June 5, 1880 Rye, O.ats, Barley, Corn, Wheat, Flour, Chicago
Com,
bush.
Total for w'k 104,722 Same time 79. 123,244
.
a> 1
82
Peas—Cau'da,b.&f.
"New York Produce Exchange
Wheat,
bbls.
®1 20
— ® — ® —
Barley— Canada W.
Com meal—
IFrom the
new
West, yellow, new West, white, new
»1 12
Flour,
3,349 3,301 22,320
Montreal* Philadelphia.. Saltimore
ORAts.
XXX.
[Vol.
THE DRY
QtOODi
307
21,S4» 392
1,400 1,195
487.214 614,080
908.834 632.439
TIADE
Friday. F. M., June 11, 1880. The dry goods market has been generally quiet the past week, but some of the cotton goods commission houses effected a fair business in plain and colored cottons by means of liberal
For most other fabrics the demand was of a hand-to-mouth character, as is usually the ease between seasons, and very little disposition to anticipate future wants was manifested by either package or retail buyers. Moderate stocks of merchandise are now carried by jobbers, but the demand for consumption (though greatly improved in all parts of the country) has not quite realized the expectations formed by retailers at the outset of the season, and their supplies are, as a rule, abundantly large for the pursuance of current trade j hence jobbers are operating cautiously for the present. Domestic Cotton Goods. The export movement in cotton goods has been less active than of late, only 1,217 packages Ixaving been shipped from this port during the week ending June 8. These shipments included (in addition to some smaller lots) 549 packages to Great Britain, 200 to Chili, 174 to Brazil, 104 to Mexico, 72 to U. S. of Colombia, and 49 to Danish Weht Indies. The demand for cotton goods was irregular and, on the whole, sluggish, but some considerable transactions in brown cottons were stimulated by lower prices, and there was a fair (though by no means large) movement in bleached and Qolored cottons. Prices were unsettled and lower on such prominent makes of goods as Atlantic brown sheetings, Alabama and Augusta plaids, &o., on which there was a marked decline from recent quotations. Print cloths were comparatively quiet and a shade easier, though quotations were nominally unchanged at 4^©* 4%c. for 64x64s and 3%c. for 56x60s. Prints ruled very quiet, but fine wide printed cottons, lawns, &c., were in steady request, and dress ginghams (which are very scarce; continued in good price concessions.
strictly
—
demand and firm. Domestic Woolen Goods. There was a slight improvement in the demand for small parcels of cotton-warp cassimeres and low and medium grade all-wool cassimeres, but other makes of clothing woolens remained quiet, and there was no movement
—
Kentucky jeans of importance in flannels, blankets or carpets. received rather more attention from intending buyers, but actual busine. 8 was of limited proportions, and satinets were Prices of clothing woolens were fairly steady, but less firm than a short time ago, and there was some disposition on the part of holders to make slight concessions on
lightly dealt in.
lots ©f cassimeres, &c., in order to close out accumulations] Dress buntings were in steady demand, but other makes of worsted dress goods were comparatively quiet. FoEBiOK Dry Goods. There was a very light demand for imported goods at first hands, and the jobbing trade was less active than of late. Staple fabrics ruled steady in price, but fancy drees goods, &c,, were lower ia some cases.
odd
—
June
THE CHRONICLE
Vi, lb60.J
Importalloiia of Dry Cloods.
week ending the corresponding weeks of 1879 and
The impo] tations of dry goods at
this port for the
10, 188CI, and for 1878, have been as follows: ENTBRBI) POR CONBDMPTIOJJ FOB THE
June
WEEK ESWSO JUSB 1879.
1878.
Pkgs.
Value.
Value.
Pkgil.
220 644 313 331 688
8Uk Flax Misoellaueous
73.303 170.494 179.150 101.133 53,S«0
577,942
2,306
Total
209 095 400
102,456 188,388 231,380
8'*7
132,(107
730 833
234
30,821
2401
2.4:u
559
135 55 55 284
Wool
79,78
3. 474 1.1 44.933
091,0.52
1.953
Ent'dforconeumpt.
2,482 2,390
175,105 577.912
Total on market
4.878
753.047
Bilk
Flax Mlsoellauoous Total
. .
124 87 07 105
55,«?J5
15,585 35,2o8 35,581 33,080
Cottou
1
151 151
.50.152
18.114 01.320 31,123 21,215
412
80 288 722
2,491
201,080 1,395 3,174 1,144,933
3.310
882.670
4,809 1,400,913
49 201 025
22,390 35,196 40,809
54 99 4,975
30,373 20,281 33,134
1,090 2,390
191,258
5,12) 2.491
199.072 094.052
Bilk
Flax
M Bcellaut:ou8 Total Ent'd foi'c'ousuuipt.
577,9.42
00,095 42.057 00,012 07,499 19,087
187,924 094,052
855
ENTERED POR WAREHOUSE OUUINO SAME PERIOD. Maiiulactiirea of— 01. 1.57 133 181 076 Wool 58,699 115 320 48,427 88 28,158 Cottou 1.59
317 412
709,200
3,492
1880.
e,972 23,685 349,182
0,450 12.998 19.830 1,117.878 3,200
Coal, tons... Cocoa, bags. Cott'ee, baKs. Cotton.bales
DniKS, &o— Bark, Peru. Oaiubier . Gum, Arab. Indigo .
0"*iuiu
Furs cloth
Hair Henir, bales
Ac-
Hides,
Bristles
..
429
SOU
. . .
l..eiuons
Raisins
085,879 1,207,811
495,794 1,243.195
459.449 591. 090
330.900 379.179
12,373.251 126.031
4,789,551 105,119
....
1
232.522
231. .579
Mola^ifes Metals, Ac-
50,29t)
41,310
Cutlery Haidware...
3,101
2.119
052
209
* 31,510 352.481 100.147
.
uailr.
19,753 .597,251
283 Saltpetre...
467
.
74,99.1
42.983 403.033 209,380
. .
2.112' Rice 23.519 Spices, A2.479, Cassia M Ginger.. .. 1.201 Pepper....
1 ,59r)
.
..
Oranges Nuts
617 Hides,
41,310
7l5.03fl
;
1.855 99.092
1,433
$
ratite.
29.541 Fancy goods 1.335 Fish........ 3.525 Fruits, Ac—
1,116
Jewelry Watches
277
9J.0OO 72.522
(i
7,«15:iCig:irs
Jewelry, Ac-
Linseed
870.019 379,098 20,832
437.875 37,480 747
28,2901 iCorks
35,552
Cvoi-y
1.351.242
1,727 Wines. Ac.— Chaniii'gne 2,5741 biiskcts . 3,2491 Wines 1,4501 Wool, bales. 19,2811 Reported bi/
1
Hides.dr'sd India rubber
321,225
28,471
1,832 4.348
.
317,060
Tea 19,099 Tobacco 0,W37 Waste
23.713 1.087 7.952 30,919 44,33* 3,213 6.740 1.701 0,957 99,298
.. ..
Soda, bi^jb. Soda, sal... Boda, ash.. Flax
Gunny
14.713 Sugar, hlids, 12,930 tcs., AUUls. 1,000,:09 iSugar, boxes 7,008 and bags...
4,308 949.039 33,748 55a,509 8,599,557 00,184
95,379 57,388 335,403 215,390
288,000
Fustic ..... l.og\yood ..
Mahogany Exports of Provisions.
194.0.50
Glasgow
25,2Ki;
379,052 110,588
8;i,242
Hamburg Havre Marseillea
.
.
Beef,
Lard,
Bacon,
Cheese,
Tallow,
bbls.
lbs.
lbs.
lbs.
lbs.
315
323
1,727 6
1,580
6 24 100
30
638 18 37 21 .50
100 .... ...
US.O.iO 3,300,964 22.800
488,050 209,422 913,500 343,400 226,050 52;',0O0
50
10
11,200
3
as 17
39,255 109,734
0.000 574,300 8,539,026 3,880,835 550,225 433,500 1,637,288 58,423 19,320 57,500 1,880.250 63,750 201.875 8,040 100.250 602,300 123,975
Barcelona Brazil Cent. Amer..
47
698
113
1,662
1,014
Mexico Bo.
Am.
ports
88
5U3.;
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