xmmt HUNT'S MERCHANTS' MAGAZINE,
REPRESENTING THE COMMERCIAL AND INDUSTRIAL INTERESTS OP THE UNITED STATES
VOL. 32. NEW YORK, MARCH 26, 1881. NO. 822.
Financial. Financial. Financial.
J. D. PlllVCS, JA3. WnrTKT.T. H. CnUOKll OAKLBr UAKilY O. LUfiAN, MAYNAllJ) C. EVKK. John Cisco & Son, Vf. R. TUAYHUS, Special Partner. J. Phelps, Stokes & Co., BANKERS, Prince & Whitely, No. a» WALL »TRKBT, NEW YORK. I. N. PHELPS, DEPOSITS BKCEIVED HUBJBCT TO CUBOK JAMKS ST0KK8. No 64 BROADTFAT, NEIT TOBK, AT .MUIIT, AND INTEREST ALLOWKO UN ANSON PHKL1»8 STOKKS, BACKERS, (Branch Office. IHO Fiah Avenue). DAILY BALA.\CEH. F. P. OLCOTT, All classes of RaitwHjrand Mining BtockH bought (iOVEHNMKNT BOND.^. STOCKS AND ALL and sold on Cummiaalon. INVESTMENT 8KCURITIBS BOUGHT AND 45 & 47 ITaU Street, New Tork, Private Telegraph Wlroa to Phlladelphlft,WIImlnB- SOLD ON COMMISSION. ISSUE tOD. Baltimoro. VVaahUiKton, Bo:»tuD, Bridgeport TRAVELERS' CREDITS, ajid New Uavon. Car Trust Bonds. CIROULAR NOTES, WE MAKE A SPECIALTY OF THE3B VBBT Paton Co/, SAFE SECURITISS, AND BUY AND BELL BAlOi COMMERCIAL CREDITS. Jesup, & AT MARKET PKICE. LONDON CORRESPONDENTS: BANKERS, WE OFFER A LIMITBD AMOUNT OF DB8IR- Tbe Ualon Bank of London. Messrs. C. J Iliimbro ABLB CAB TRUST ISSUES, ADDITIONALLY 52 William Street^ New Topk, SECURED BY THE DIRECT OBLIGATION OF TUB RAILWAY EQUIPMENT COMPANY. Acconnts and Agency of Banks, C«rporatlonB, CLilRH, Banque Onus and Individuals recoired upon favorable terms. POST~& MARTIN, Dividends and Interest oollected and remitted. 3-1 PINE STREET. Act as agents for corporations In paying coapons Centrale Anversoise, and dividends'; also as transfer agents. Bonds, stocks and seourities bought and sold on L. Levy, commission. (LATE OF LEVY &. BORG.) Antwerp. Sound railroad and mnnlcipal bonds negotiated. DEALER IN Sterling exchange bought and sold. Drafts on All Classes of Investment Seenrities Union Bank of London. PaidUp Capital, • - 9,000,000 Francs. AND MISCELLANEOUS BONDS AND STOCKS, No. 8 Wnll Street. BOAJiD OF DIBECTOna: A. W. Beasley & Co., Bblix GRI8AR. President. ALirKKD MAQniNAy (OraffA Maqulnay), VIoePreg. Lansdale Boardman, J. B. Von i)Eu Beoke (Von der Becke 4 Marsilr). No. 98 BROADITAT, Otto Gu.ntubb (CorneUle-Davld). Bmile dk Oottal. STOCK BROKER, Aj>. Kkank (Frank, Model & ClC.> No. 80 BROADWAY, Rooms 37 il THE CHRONICLE. [Vol. XXXIL Foreign Exchange. Foreiarn Exchange. Canadian Banks. Drexel, Morgan & Co., August Belmont & Co., Bank of Montreal. WALI. STRBBT, BANKERS, CAPITAL, - $12,000,000, Gold. BROAD, NEW YORK. 21 Nassau Street, COENKR OF Noa. 19 & SURPLUS, - 6,000,000, »oId. Issae Travelers' Credits, available In all partsof th^ Drexel & Co., Drexel, Harjes & Co world, through the QEOKGE STEPHEN, President. Ne.M South Tbibd St. 31 Boulevard llRUBsmaQD MESSRS. DE ROTHSCHILD C. F. SMITHERS, General Manager. Pblladelpkla. Paris. and their correspondents. yew YORK OFFICE. .Vlso Commercial Credits and Transfers of Money DOMESTIC AND FOREIGN BANKERS. Nos. 69 ee. 61 WALL STREET on California, Europe and Havana. DepoiltB received subject to Draft. Securities, Gold, Walter Watson, alloweo Agents. *e., DOnght and sold onCommlseioo. Interest Alex'r Lano, I on Deposits. Foreign Kxchangc. Commercial Crodlts. Travelers, Oable Transfers. Circular Letters tor John Munroe & Co., Bay and sell Sterling Exchange, Francs and Cable available In all parts of the world. Transfers ; grant Commercial and Travelers' Credits No. 8 Wall Street, New York, Attobwbts and Agints or available in any part of the world ; issue drafts on inerars. J. S. inOKGAN & CO., No. 4 Post Office Square, Boston. and make collections in Chicago and throughoot. No. Sa OLD BROAD ST., LONDON. CHEQUES AND CABLE TRANSFERS ON the Dominion of Canada. IHVNROE & CO., PARIS. London Office, No. 9 Blrcbln Lane. Brown Brothers & Co., STERLING CHEQUES AND BILLS AT SIXTY No. 59 WAI.I. ST., N. IT., DAYS' SIGHT ON BUY AJTD 8KLI, ALEXANDERS ic CO., LONDON. Merchants' Bank B1L,L,S OF KXCHANGE OP ON GREAT BRITAIN AND IRELAND, FRANCK, CntOUULB NOTX* AHS CSXDIT* m>B TSaVSIJIKS. CANADA. OBRMANT, BELGIUM AND HOLLAND. Issue Commercial and Travelers' Credits & Stuart & Co., Capital, $5,500,000 Paid Up. Jlf SlSBLISa, J. J. Hon. JOHN HAMILTON. AYAILABLB IN ANY PART OF THE WORLD. 33 NASSAU STREET. President, the And In Franca, In Martinique and Guadalotipo. Vice-President, JOHN McLKNNAN, BSQ. BAKE TKLBGRAPHiC TKANSFERS BILLS OF EXCHANGE ON BEAD OFFICE, MONTREAL. OF nONKlT & SmiTH'S, SMITH, PAYNE General Manager. this and other countries, through London aEOROB HAGUE. Bttween BANKERS, LONDON ; and Paris. General Manager. nANCHESTER dc COUNTY BANK, WM. J. INQBAia. Asst. Make Collections of Drafts drawn abroad on all points in the United States and Canada, and "LIMITED;" BANKERS of Drafts drawn In the United Statei The Clydesdale Banking Comp'y. MANCHESTER, PAYABLE IN LONDON ; LONDON, ENG.— on Foreign Countries. NEW YORK—The Bank of New York. N. B. A. ULSTER BANKINA COMPANY, The New York Agency buys and sells Sterling Kx- S. G. & G. C. Ward, BELFAST, IRELAND change. Cable Transfers. Issues Credits available In all parts of the world, makes collections in Canada AesKTB FOB LSO OS THS and elsewhere, and issues Drafts parable at any of NATIONAL BANK OF SCOTLAND, the offices of the bank in Canada. Demand Drafts BARING BROTHERS dc COHIPANT, EDINBURG, AND BRANCHES; issued payable in Scotland and Ireland, and every S3 WALL STREET. NEW YORK. description of foreign banking business undertaken. ^LSO. Nevr York Ageucy, 48 Ex chaDge-pIace. 38 STATE STREET, BOSTON. ..ABLE TRANSFERS AND LETTERS OF CREDIT HIJNRY HAGUE Agents JOHN B. UAHRIS JR., &W.Seligman&Co., Hilmers,McGowan & Co J. Imperial of Canada BANKERS, BROKERS IN Bank Capital, $1,000,000. 69 EXCHANGE PLAOB, Foreign Exchange, Stocks and Bonds, H. 8. HOWLAND. Pres't ; D. R. WILKIE, Cashier. CORNER BROAD 8TRKBT. >EW TOKK. 63 'WaU street. New York. HEAD OFFICE, TORONTO. Special attention paid to orders at the New York BRANCHES: Issne Letters o' Credit for TrsTelers, Stock KzchanKC and New York Mining Board. St. Catharines, Port Colborne. St. Thomas. Ingersoll. Welland, Fergus, Woodstock, Winnipeg, Man. Parable In anr par at Europe, Asia, Africa, Anstrall* Calilornia Banks. Dealers in American Currency & Sterling Exchange. Yorkr a id America. Agents in London ; I Agents in New BOBANQL-KT. SALT CO., BANK OF MONTBIAIi. Draw Bills of EXL-Jiangs and make telegraphic tran*. A 73 Lombard Street. | fill Wall Street. Europe and Califorala. The Nevada Bank tera of money on Promptest attention paid to collections payable la OF any part of Canaoa. SAN FRANCISCO. Approved Canadian business paper, payable la Kidder, Peabody & Co., gold or urrency. diseouiited at tne Head Ofllce on New York Agency, 62 Wall St. reasonable terms, and proceeds remitted to any BOSTON, MASS., part of the United states by draft on New York. SURPLUS, INVESTED IN U. 8. BONDS, and Nassaa Sts., New York. GOLD. Cor. Wall 84,000,000 Foretsn Bankers. FOREIGN BAKKERS. GEORGE L. BRANDER, Asent. ISSUES Commercial and Travelers' Credits, avail- able in any part of the world. Draws Kxcbange, Nederlandsch Indischc CABLE TRANSFERS, BlLLa OF EXCHANGE Foreivn and Inland, and makes Transfers of Money AND by Telegraph and Cable. Handelsbank, OOMMXBCIAL AND TBATELBB8' CBXDIT8. THE AnSTERDAm, HOLLAND. C0KRE8P0NDBST8 : Anglo-Californian Bank ESTABLISBID IN 1863. BARING BROTHERS &: CO., London. (LIMITED). Paid-up Capital, 12,000,000 Golldera ($4,800,000 Gold.) PERIER PRERE8 dc CO.. Parli. LONDON, Head Office, 3 Angel Ceiut. MENDELSSOHN &: CO., Berlin. SAN FRANCI.SCO Office. 422 California St. HEAD OFFICE IN AMSTERDAM. NEW YORK Agents, J. A W. Selunnan A Co. Agencies lit Batavla, Soerabaya and Samaranff Correspondents In Padang. Knoblauch BOSTON Correspond'ts, Massachuaetts N. B'k. Issue commercial credits, make advances on ship* ' • Antborlzed Capital, $6,000,000. ments of staple merchandise, and transact otheA - & Lichtenstein, Paid up and Reserve, 1,700,000. business of a flnanclal character in connection wltA Indies. BANKERS, Transact a general banking business. Issue Com. be trade with the Dutch hiast %9 IVIUIam St., cor. Exchanee Plae«. merclal credits and Bills of Exchange, available in BLAKE BROTHERS & CO., NEW YORK. all parts of the world. Collections and orders for AGENTS rOR NORTH AMIRICA Make Telegraphic Money Transfers. Bonds, Stocks, etc., executed upon the mostfavor- Uraw Bills of Exchange and issue Letters 18 WALL STREET, NEW YORK, of Credit ableterms. FRKD'K F. LOW, JMananers"ai^aBers. on all principal citiett o Europe. IGNATX STEINHART. i SW STATE STREET. BOSTON SPECIAL PARTNER, P. N. LILIBNTHAI,. Cashier. DE1TTSr;HR RANK, Berlin. Canadian Banks. Nederlandsche Blake Brothers & Co , AGENCY OF THE Handel-Maatschappij^ LOKDOiX, ENGLAKD, Tlie Neilierland Trading Society PARTNBR3 Bank OF ROLL AN D, or BLAKE BROTURRS A CO., Boston and New York ESTABLISKD r824. rnOL BBINBMANN British America, Pald-np Capital, 36,000,000 Florins.. London. North T.BARRON BLAKE, (*l 4,4011,000, Gold.)| No. 62 W^ALL STREET. Execute orders for ilie purciiHse or sale of Merchan- Grant commercial and travelers' credits, nagotlr-te due. Bonds, stocks, ana other securities. In the niakeCo;;ectlonB mm loans, malce udvunocs on merchandise, and trauB- Buy and sell Sterling Exchange and Cable Trans- Uniied&tateft,Europe8ndiliei.ast; buy and sell Foreign Excliiiuge, and give udvancea #| a«tageneral flnanclal commission business, fers, issue demand drafts on Scotland and Ireland, lixpori. upon"^ Merchandittf lor also on Canada, British Colunbla, Portland, Oregen, OLIVElT ». CARTER, ) Agent» COBBX8PONDKNT8 BLAKE, for Francisco and Chic»go. STANTON \ San HKNKY K. HAWLEY, ) America business trans- SLAKE BROTHERS & CO., Bllli oollested and other banking New Yobk, January 1, IbW. r a aotad. a. A. Mr viau, j xamiM. KEW YOUK AND BOSTON, Office, 142 Fearl Street Hew York. H 1 MAJtca 26, 1861. THE (JHRONICLE. Hi Foreign Baakers. Boston Banken. Southern Banker*. Hong Kong & Shanghai Chas. A. Sweet & Co., n4RRI8 & RHIND, BANKING STOCK AND BOND BEOKEB8, COKPORATION. BANUtBS CAPITAL (paid-up) fS.OOO.OM AUGUMTA, liEORUIA. KKSKUVE VVNU 1.800,000 **" "' *.'""• 0' ln»«rtinent Seouritlac o.,'?'.'i'' i'."" HEAD OfFWB. HONQ KONO. 40 state sitkeet, boston. out rlKht or on commlulon. Inionnatlon furnUhed. Orders and ccirpHipondenoe olletted. The Corponitlon Krant Drafts, Issue Letters of dbalbrs in Credit for use of Travelers, and ncKotiate or collect govkunmbnt securitiks WM.C.COUBTNEV.Pres. ER.NF-HTH. I>BI! it THE CHRONKJLE. [Vol. XXXI Financial. Financial. Financial. TERRK HAUTE ST. L,OUI8 ALTON & NOTICE. KAIl-KOAD COMPANY, 60 WAM.8T11EKT. NEW Kountze Brothers, 1881.—To Ui9 Holders of the office op thr ToiiK, March 23, BANKfeRS, Obegom Railway & Navioatiov Compaky.'SY.l Stock of the BT. LOUIS ALTON & No. 20 Nassau St., Nkw yoiiK.Kcb. 17, ISnl Prefemd } 5, 1.— Ihe third, fourth and lifth aspo.^slncnts TBURIC HAUTE RAILROAD COMPANY : 130 Broadway (Equitable Balldlng)^ of twenty per cent i^O per cent) t ach. upon of dividends which the sub- la settlement of all arrears scriptions for the first three millions of the new liaTO iiccruoti npsn the Preferred f^tock up to JanO' NEW T O B K . capital stock xtmdt HUNTS MERCHANTS' MAGAZtNB, ^^^8^^ REPRESENTING THE INDUSTRIAL AND COMMERCIAL INTERESTS OF THE UNITED STATES. the office of the Librarian of Congreaa, Washington, D. (Bntercd, according to act of Congress, In the year 1881, by Wm. B. Dxma & Co., In ai VOL. 32. SATURDAY, MARCH 26, 1881. NO 822. CONTENTS. "We do not think there is any great force in this argu. THE OHRONICI-E. ment, or at least any need for timidity on this ground. Th« Financial Situation 321 Mr. Gladstone's Foreign Policy 325 Commercial is not likely act as to disturb business The Orppon Sviidloiito and the Monetary and Tho Treasury to so ; Nortliiiii riicitlc 323 KngliBh News 320 The Btrect Cleaning Problem.. 324 Commercial and MiaceUaueoua and furthermore even if a contraction of bank currency The World's Fair 324 News 327 THE BANKERS' GAZETTE. should be in progress during the spring and early summer, i Quotations of Stocks and Bonds 331 Honey Market. U. B. Socurl- it would be in the less active months and comparatively tie»'. Railway Stocks, Porolga I New York Local Securities. . . . 332 Exchange, New York City I Investments, mid State, City slow, and therefore not disturbing. But on the other hand aud Corporation Finances. .. 333 Banks.etc 323 I THE COMMERCIAL TIMES. an extra sossio'n, though important for refunding, is very Oommerclal Epitome 337 1 Breadstufts 313 337 Dry Goods 3l4 generally, and we think most justly, feared because of ita Cotton I influence in the same direction. Mr. Voorheee has this ^Ixt Clxvcnxicle* week given voice in the Senate to the mutterings of hos- The Commercial and Financial Chronicle u issued every Satur- tility against banks so plentiful now among the unthinking. day morning, with the, latest news up to midnight of Friday. The position this Senator takes is of course in no degree a [Enterud at the Post Office at New York, N. Y., as second-class mail matter.] surprise. He has always been on the unsound side of ; toward TERMS OF SUBSCRIPTiON-PAYABLE IN ADVANCEi every financial question hostile at every step For One Year (including postage) $10 20. resumption ; and the chief champion in the last session of For Six Months uo 6 10. Annual subscription in London (including postage) £2 7s. the Senate of the fifth section of the Funding bill No Six mo«. do do do 1 88. Subscriptions will be continued until ordered stopped by a written amount of experience appears to satisfy him, that in this vrder, or at the publication office. The Publisliers cannot l>e responsible tor Remittances unless made liy Drafts or Post-OlHce Money Onlers. country at least, humbug is not safe capital for a political Advertise ineuts. Transient advertisements are pul)lislied at 2.5 cent* per line for each party. Hence with unwavering vigor and freshness he Insertion. l)Ut wlien detlnite orders are givt^u for Hve, or more, insertions, » Mineral discount is made. Special Notices iu Banking aud Fmanciai hugs a new phantom every time his last idol leads his OOlnmn 60 cents per line, each insertion. I,ondon and Liverpool OflBcca. party to defeat. The ofBce of the Chkdnici.b in Loudon is at No. 74 Old Broad 8t reet &nd in Liverpool, at No. .5 Brown's Buil(lin;^s, where subscriptions and It is no surprise then, we say, that he should tell us ttdvertiseuients will bo taken at the regular rates, and single ooplca of the paper supplied at Is. each. now that a combination of the banks defeated the Funding WHXIAM B. DANA, ) WILLIAM B. DANA & 00., Fnblishsrs. ions O. FIX)VD, JK..1 79 & 81 William Street, NEW YORK. bill. He does not stop to prove it, for that would be Post Officb Bo.x 4592. troublesome. We remember that a little more than a year THE FINANCIAL SITUATION. ago our State Legislature passed a tax law so oppressive to Up to Friday the financial future looked more uncertain foreign banking capital that it began to pack up and take this week than for a long time back. At the moment no passage for regions where business was profitable. The policy of the Government—whatever might be finally Governor vetoed that measure and stopped the exodus. determined upon—seemed wholly free from possible In the language of Senator Voorhees a combination of embarrassment to business; and yet the indecision at foreign capital may be said to have defeated the law. The Washington with regard to an extra session, and the policy public, however, have always made the mistake of suppos- of the Treasury if a session was not to be held, helped to ing that the good sense of the Governor defeated it, and aggravate the situation. so made it possible for foreign capital to abide among us This perplexity was due mainly to the fear that in any and still help to develop our undeveloped resources. event our currency might be disturbed. The contraction In a similar manner Senator Voorhees' fifth section which tcok place on the passage of the fifth section of the proposed to apply force to domestic banking capital—to Funding bill has made the public extremely nervous. If put it into a position in which its note-issuing business there is no extra session, the question was asked whether would net a lose, and out of which, after the act wa(j the bonds called in would be registered bonds held by the signed by the President, it could not extricate itself with- banks or coupon bonds held by the public. And if the out delays and difficulties. Spontaneously and in every J • a J r, will the banks retire their circulation and wait for part of the country it began to so arrange ite affairs as to she Pa nding bill of next winter to take out new circulation, enable it if it chose, after the act went into operation, to in ihe hope that the rates of interest will bo higher then leave the national banking system. The President, being ftnd therefore the taking of circulation be more advan- wiser thaa Senator Voorhees, vetoed the act and averted tageous to the banks ? The surmise or fear that this would the danger. And yet the Senator cftHs this wisdom of the be the tendency, is helped by the threats current of hostile President a veto by the banks. Surely that is a peculiai legislation against the banks—the argument being that confusion of ideas. Capital goes into the banking busi- these institutions will for the time being incline to go out ness simply because it is profitable, and takes steps to go of tke currency business. out of it just as soon as it tkinks there is a prospect of ite .. 322 THE (CHRONICLE. rVoL. XXIU. being unprofitable. The banking laws were originally issue have amounted to ,$2, 67 9, 7 Go, of which $174,765 prepared so as to attract it; the fifth section was framed consisted of marks and German silver. The Bank of 80 as to repel it. England shows a gain this week of £229,000, and the This digression is meant simply to bring out the fact Bank of France reports the large increase of 27,039,000 that this fresh attack is only the continuation of an old francs gold and 2,250,000 franc ssilver. It was reported one, and further to remind the reader that the claim made here on Thursday that the Bank of France had stopped the is the product of such an unsound prejudice, that as our payment of gold, but there seems to have been no basis people think it over they will grow ashamed of it, and its for the rumor. In this connection, and in order to show following will lessen. Even an extra session, therefore, the movement (explained by us last week) between Paris had it been determined on, would not be likely to produce and the branch banks, the following will be of interest, the ill effects anticipated. But it was very desirable that cofiiparing the amount of bullion in the Bank at Paris and the question with regard to its being held and with regard the branches, near the beginning of the year and at the to the policy of the Treasury should be settled, for uncer- latest mail advices. In this interval the Bank of England tainty on these points throws extreme doubt into every has gained £4,398,000, or 109,950,000 francs. business arrangement. Hence, it is not surprising that Parit. Branches. Wall Street should have watched the Washington dis- Gold. Silver. Gold. Silver. patches closely this week, and that their negative nature Francs. Francs. Francs. Francs. up to Friday should have been discounted unfavorably. Dec. 30, 1880 169,018,848 648,853,731 395,250,000 .573,750,683 The downward tendency to prices was also aided by March 10, 1881 100,775,071 635,805,126 457,640,000 579,610,710 another heavy snow storm in the West; by a sharp fall in Decrease 68,243,777 13,048,605 IncreaRO Nashville Chattanooga & St. Louis previously sent up 62,390,000 5,860,027 rapidly while a covering of short contracts was in prog- These figures show how rapidly the Paris Bank is losing gold the branches it will ress; by the proposed issue of about 180,000 shares of ; be seen have gained enough to nearly make good this loss the loss is Northern Pacific stock which it was supposed would con- ; at Paris the export to Great Britain the gain the tinue to be held off the market; by the condition of the ; by branches is drawn from coal trade, which rendered necessary a restriction of the the active currency of the country. The following table gives output; and by a variety of disquieting rumors such as the amount of bullion in each of the principal always follow in the wake of any considerable disturbance European banks, as reported by cable this week and at the corresponding in values. Yesterday, however, the advices from Wash- period last year. ington announcing that no extra session would be called, Jfan!A24, 1881. March 25, 1880. and that the resources of the Governme»t would be ample Gold. Silver. Gold. Silver. to refund all the 6s and a part of the 5s, were received with B great favor Street, prices generally advanced. on Wall and Bank of England 28,119,556 29,001.940 The money market has been comparatively easy Bank of France 24,233,352 49,207,030 32,646,360 51,023,557 Bank of Germany .. 9.276,658 19,053.932 9.652,333 19,321,667 during the whole week. The borrowing demand for Total tills week 61,629,566 68,860,962 71,300.533 70,345,224 stocks, due to the short interest, greatly lessened the Total previous week 60,366,506 08,913,462 70,~02,41.) 70,232.570 inquiry for money at the Stock Exchange, and the average Q^ The above gold and silver division of the stock of coin of the Bank of Germany is merely popular estimate, as tlie liank itself give* rate on call has been about 5 per cent. The domestic nu information on that point. exchanges, and our statement below of receipts and ship- The foreign exchange market has been quiet and heavy. ments of gold and currency by the banks, do not indicate Cotton bills have pressed rates downward, and another any urgency at interior points. This condition is probably source of supply came from the exportation of products due to the fact that the snow embargo upon lines west of which have been locked up on the canal during the winter, Chicago has locked up and therefore kept ofE the market and which are now going to their original destination. large quantities of produce. Had it all come forward it is For the past few days the German exchanges have been presumable that there would have been a more active so low as to admit the import of gold, an unusual circum- demand for money at the Western centres. The subjoined stance at this season, and francs have been low enough table shows the highest and lowest rates for money on call for a movement this way if bankers could rely with certainty at the Stock Exchange for March this year and for March upon procuring full-weight coins for the purpose. There and April, 1880 and 1879. In 1879 our market was made has been ti good margin for profit in cable stock transac- artificially easy by refunding operations, and last year tions between London and New York, as is seen by the there was an especially active demand growing out of the following exhibit of the relative prices in the two cities at great speculation in almost all staples at Western points. the opening each day. This season the feature of safety is the improved condition :Mar. 22. Mar. 23. of our foreign trade, permitting the import of gold when LoTMl'n N.Y. Lond'n N.T. L(md^n jv.r. London IV. r. Lond'n tr.T. we need it—a condition which did not exist at this time imces.* prices. prices.* prices. prices.* prices. prices.* prices. prices.* prices. last year. U.S.48,C. 112-40 113« 112-28 U3H na-40 113« 112-28 112-28 U3« U.S.Ss.c. 101-01 lOlJ^ 100-91 WIH 100-91 101« 100-79 100-91 101« Erie.. 47-84 47X 46-46 46M 40-58 iOH 45-85 48-10 45« 1881. Week 1880. 1879. 2d con. 99-80 99}4 90-70 98H 99-70 99H 99-70 9918 99 ended— 111. Cent. 138-26 138 >< 135-52 131M 135-27 134?^ 133-98 I33M 133-96 133 nigh. Low. High. Low. mgfi. Low. N. Y. C. 145-96 144H 144-23 144>s 144-23 14SM 143-74 143 143-74 143 Heading 32-09t 64 S0-85t- 61« 31-2H 62 29-78+ 59 29-88+ 59 Mar. 5.. " 12. Exch'ge, « 19. cable.'!. 4-84^ 4-84 4-84 4-84 4-84 " 26. Espresaed in their New York equivalent. + Reading on basis of $50, par value. April 2. Note.—The New York equivalent is based npon the highest rate for " 9. cable transfers, wliich ordinarily covers nearly all charges, such as " 16. interest, insurance and conuuigsiSQS. " 23. 6 The Treasury operations this week show a gain, which « 30. is a loss to the banks, of $2,150,620. Deducting the net ' And Inttreet. loss of $1,070,169 by the Treasury last Friday, leaves the It is estimated that there are now about $3,750,000 net loss to the banks $1,080,451. The net gain by the gold ia transit for this port. The arrivals since our last Treasury yesterday was $764,924. Last week's bank _ 323 March 26, 1881.1 THE CHRONICLE. specie, and this small railroad companies. It was organized with tha return was made up on rising averages for this respect avowed purpose of getting possession of the entire ocean week the condition should really be better in which went and river trade in that section of the country, and thus far than the report will show, for $500,000 gold only settled for on the task does not seem to have been difficult of accomplish- into the Assay Office on Tuesday, was ment. It soon became evident, however, that the railroad Thursday, and a consignment of $1,000,000, deposited on supersede the steamboat, especially on the Wednesday, was not paid for until too late to count in would have to Assay Office Columbia River, where falls and other obstructions ren- this week's statement. The payments by the dered navigation slow and difficult. Accordingly, a rail- for the six days ended Thursday, amounted to $756,858. road from Wallula to Portland, along the south bank of The following shows the gold and currency movement by the Columbia, was planned, and 125 miles of this distance, the leading banks of this city during the week ending Wallula to The Dalles, has been built, while the Thursday night. from remaining 90 miles to Portland are under way. At Wallula Seeeived. Shipped. connection is made with the Pend d'Oreille division of the $1,970,000 ?l9fl0.000 Currency. Northern Pacific, soon to be completed, which will extend Gold 20,000 120,000 221 miles northeastwardly from that point. iTotftl I $1..'>90.000 $1,100,000 If it were the intention of the Northern Pacific to stop at The Bank of America paid out $600,000 gold from the Wallula and go no further west, then that company's line vault. _^_^^^__^.^_._— would in no way interfere with the business of the Oregon it would add to it but in THE OREGON SYNDICATE AND THE NORTH- Company—on the contrary, ; ERN PA CIFIC. point of fact the Northern Pacific does intend to go fur- The announcement this week that it had been deter- ther, and that in very close proximity to its neighbor. mined to issue, to the original proprietors, the 18 millions Thus the Oregon line now runs along the south bank of Pacific of Northern Pacific stock which have been retained in the Columbia River ; the Northern pro- the treasury of the company, has attracted considerable poses to pass along the north bank of the same river to attention. While the action of the executive committee, Kalama, from whence the Pacific portion of its line, which had the matter in charge, has been much criticised, already completed, will carry it to Tacoma, a seaport on the subject has been chiefly discussed with reference to its Puget Sound, and the declared western terminus of the bearing upon the efforts of Mr. Henry Villard, on behalf company's trans-continental route. This proposed exten- of a syndicate organized in the interest of the Oregon Rail- sion along the Columbia River is called the Columbia River way & Navigation Company, to get control of the Northern Division, and will give a strong hold on the river trade. Pacific lines. For the through route, however, the projected Cascade It is not yet definitely known whether the syndicate Mountain Division, affording a more direct Une to Tacoma, have been successful or not in their endeavors ; but the will be used. injunction obtained by Mr. Villard on Friday against the From this it will be seen that not only is the Northern issue, is taken by many to mean that they have not been. If Pacific, when its Western divisions are completed, likely to they had a controlling interest of the old amount of stock, take away a good portion of the Oregon's local traffic, but and no more, it will be necessary for them now to by reason of its furnishing a direct line to Tacoma is likely enlarge their holdings, m order to make sure of their also to diminish the importance of Portland, the terminus if they had not yet obtained a ; this is more probable, since the navi- game ; on the other hand, of the Oregon road the sufficient amount to give them control, the distribution of gation of the Columbia River to Portland, because of a bar, the additional stock, though augmenting the floating sup- is somewhat difficult, while the way to Tacoma from the ply and lowering prices, would still increase the quantity of ocean is comparatively unobstructed. It follows that the stock which it was necessary to get, and consequently monopoly which the Oregon Company has heretofore^ the amount of money necessary to have in hand, enjoyed would be broken and its prosperity threatened. To as in the first case. In any event, having delib- avoid this the directors of the company are without doubt, erately set out to secure possession of the property, it is making resolute efforts to gain possession of the North- not likely that they will be easily driven from their ern Pacific, having obtained which they would be enabled purpose. This is the more evident, when we bear in to put a veto on any measures looking to an extensioa mind just what the Oregon Railway & Navigation Com- of that company's lines. . pany is, and in what way it will be affected if the North- Should the Oregon be successful in securing control, con- ern Pacific project is carried out in its entirety. struction of the Northern Pacific west of Wallula—or The Oregon company was organized June 13, 1879, more accurately Ainsworth—would probably be discon- scarcely two years ago. As its name implies, it carries on tinued, and the Oregon line used for the western end of transportation both by rail and water. At first it was the route, wich the terminus at Portland instead of Tacoma. almost exclusively a carrier by water, but during 1880 The purpose of the Oregon directors in this respect is construction of new mileage was vigorously prosecuted, clearly indicated in a circular issued by Mr. Villard on the and now the company has about 175 miles in operation. 3d of January, 1880. "As the growing importance of This will be increased to about 600 miles, when the Oregon and Washington renders certain the construction additional lines projected—and it is contemplated to push of new through lines from the East within the next few the work of construction on them rapidly forward—are years," he says, "it must be our policy to meet any and completed. It was for this purpose that $6,000,000 of all of these at such points as will prevent the establishing new stock were authorized last autumn, $3,000,000 of of opposing interests in our own territory." All its pur- which have already been issued, and the remaining chases have had this object in view, and thus far the com- $3,000,000 of which are now being offered for subscrip- pany has had a remarkably successful career. Hitherto tion. The company is a consolidation of the Oregon it has confined itself to its own territory. With the Steamship Company, doing ocean service between acquisition of the Northern Pacific it would widen the San Francisco and Portland, the Oregon Steam field of its operations and enter upon a new and untried Navigation Company, carrying on the trade of the sphere. While it would be hazardous to predict that this, Columbia, Willamette and Snake rivers, and several its latest venture, will^ not prove_^profitable in the end, it 324 THE OHRONICLK [Vol. XXXII. does not neai much foresight to see that it will not be most of them knew before, that last year there was bo profitable. snow and this year there immediately was some ; that neither year was The Northern Pacific, as at present laid out, provides the work done, the streets being only a degree more filthy line about miles in length, from the this spring while the for a main 2,400 ; accounts displayed show such a Montreal River at Lake Superior to Puget Sound, and20O lack of uniformity in method that it is impossible to miles of branches. About 1,400 miles yet remain to be understand them or present any comparisons. constructed, but the central gap is only about 820 miles, These officials make their defense under tha mistaken which is all that it will be necessary to build to form a belief that their excuses are a matter of public oonee- contrary, continuous line from Duluth on Lake Superior to Wallula, quence ; on the that hardly concerns anybody where, as already remarked, connection is made with the but tkemselvee. That they have not done the work of Oregon Company's line for Portland. It will be remem- street-cleaning is the material fast, and it is of little bered that $20,000,000 of the $40,000,000 which it is use to be laboriously told the excuses why they have expected will be sufficient to complete the entire system as not. They may have done more, or less, work in 1880 projected ($60,000,000 are authorized) were recently sold, than in 1879, and they may have spent more money or so there is no lack of funds with which to push the work. less ; but as well try to explain the sun out of the sky as The road will run through Minnesota, Dakota, Montana, to conceal the fact that the streets have not been cleaned. Idaho, and "Washington Territory. Dakota, Minnesota and The sole concern now is, how we shall get them cleaned Washington Territory are ezcellent wheat districts, and and get the work so placed that it will be done hereafter. in Idaho and Montana are to be found good mineral and The people care nothing in particular, just at present, timber lands, and the country is also favorable for grazing about the Commissioners, or whether they are to b« purposes. The road is therefore assured of a large pronounced one kind of men or another. The streets trafiBc from the sections of country contiguous to its line. In must be cleaned, for the alternative is a probability of northern Minnesota and Dakota wheat production should pestilence. The existing system has beem tried, endured, be greatly stimulated, as the Northern Pacific ofiiers a very and found wanting. Who does the work ; how he does direct line to Duluth, from whence wheat could be carried it ; whether he voted for one party or the sther, or very cheaply to New York by the lake and canal route. whether he never votes at all—the people do not care Then the company has a very large land grant—in the now, but they do demand a man who can be got at and vicinity of 42,000,000 acres—which though only a small held accountable, and a system which shall work only portion of it possesses value as yet, is destined, neverthe- towards the end sought. less, to become a source of large revenue as soon as the This was the determination of the meeting. No more company's lines make the lands accessible. Republioan, and no more Democratic, and no more " non- When the lines are all built and the $40,000,000 of partisan," filth, or filth removers. Of the twenty-one bonds issued, the annual fixed charges will be, it is esti- prominent men constituting the committee to act out the mated, between $2,800,000 and $3,000,000, which the purpose of the meeting, seventeen were present at the company ought certainly to be able to earn. All above deliberative session on Monday. The deliberation waa that would go to the stockholders, first to the preferred brief, but to the purpose ; a consultation was held with the stock, which has 8 per cent preference, and then to the Mayor ; a biU was rapidly prepared, and the committea common. Allowing for $40,000,000 of preferred (the has started for Albany. The unanimous intention is, that present amount is about $42,000,000, but as the stock is the control of the work shall be concentrated, and tha receivable for lands east of the Missouri River, the total Mayor is conceded to be the most suitable person in whom diminishes from year to year) $3,200,000 are called for to lodge the responsibility. is to pay dividends on this class of stock ; add on $2,800,000 At present our Mayor only a high salaried clerk ; ha for interest charges, and we have a total of six million marries casual couples, receives lunatics and beggars, and dollars to be paid before the common stock will be entitled appoints the dog-catchers ; so he may well be given some- to anything. As the greater part of the Oregon syndi- thing substantial to attend to. The present Mayor ia a cate's holding is reported to be in common stock, these man of business, who has achieved success for himself by facts bear out our remark above that their investment in following business rules ; he says he can do the work, and this company is not likely to prove immediately profitable. will. In every private business, each piece of work is given out to some person, who knows that if it is not done THE STREET-CLEANING PROBLEM. properly he will be directly brought to account, and that The spirited public meeting of last Friday night, and he cannot plead that somebody else would not let him do the activity since then of the coiamittee at that time it. Private business does not have systems, and bureaus. appointed, only reflect the earnestness of our people in None of this is suffered to ereep in wherever the work is this street-cleaning problem. It is universally recognized the thing sought and where the results prove the method. (1) that the end sought has not been reached under the In a word, then, the condition of our streets, under the present system that the popular will now has no ; (2) present system of cleaning them, being such as to alarm board control over the entrusted with the work ; and (3) our people, we propose to turn this work over to some- being thus unsuccessful and irresponsible, the trial is body who will have freedom to act and will realize that he desired of a new system which can be spurred up to its must bear the odium and shame undivided if he does not duty by public opinion. act. The existing condition is intolerable. It is not for We repeat these simple truths because some seem to the Legislature to question the expediencj^ - of what is niisapprehend the situation. The Police Commissioners, sought, for the people most intimately concerned are the for instance, have, in reply to an inquiry from the Mayor, judges of that. This city is in the imperative mood, driven made an elaborate defense, which is wholly in the nature to that by long suffering under official incompetency. of excusatory pleas. To this end a comparison is made between this year and last year of the price of horse-feed, THE WORLD'S FAIR. the extent of the snow fall, the actual work done, ending Our contemplated World's Fair has not hitherto enjoy6d up with the stereotyped excuse, ''not money enough." an uninterrupted run of good luck. It ia to be said, how- Aft€r reading this document the people know, what thg ever, that something like this is generally the experience MiLKCH 80, 1881.1 THE CH110NI(>^LE. 325 of ftny great undertaking. But as the BubBcriptions havo istration that it professed and pursued what the administra- now passed the point of the first million, and a new and it is tion itself called a vigorous foreign policy. Such a foreign to be hoped an efficient and capable president is to be policy, it is sometimes said by those who have not given secured, it is certainly time to adopt the decisive and sufficient attention to the subject, is a distinctive and dis- give up the halting policy. tinguishing feature of Tory governments. It is not To this end, it is first of all necessary that the altogether so. So long, indeed, as Lord Falmerston question of site should be determined and finally lived, the action of the Whigs, the ruling element put to rest. It is idle to approach a business man in the Liberal party, was vigorous and energetic for a money subscription to such an enterprise while in the extreme. In recent years, however, and par- ticularly since this poict is undefined ; he wants the matter reduced to the conversion of Mr. Gladstone shape before he will entertain it. That the enterprise is to the doctrines of the Manchester school—the not certain against being abandoned does not necessarily •school of Cobden and Bright—the Liberals have been less deter him, for he may make a conditional subscription ; but aggressive in the region of foreign politics, and in contra- he must be assured that he is not contributing toward con- distinction to their rivals, have devoted themselves more verting the Central Park from its original design, and this he to the consideration of domestic than of foreign questions. oonnot know until he finds among the projectors unanimity It has, therefore, for some yeare past been observable of purpose in that particular. To hear every other day from that when the Tories are in office foreign interests are the some one or more in the management, that nothing on that more prominent; and that when the Liberals are in office- point is beyond dispute yet, makes it impossible for public home rather than foreign questions have the precedence, sympathy or enthusiasm to bo aroused. • If therefore any- unless necessity compels an opposite course. It would thing remains to be done to settle this question of site it be unjust to say that the Beaconsfield administration should be done at once, and not even a whisper with re- courted warlike complications; and yet it is undeniable gard to it should again be permitted by any one interested that under its guidance Great Britain became involved in in the success of the Exhibition. A wandering show will war with Afghanistan, in a series of wars in South Africa, gather no subscriptions. and narrowly^ escaped being involved in what at one time With this doubt removed, we see nothing in the way of threatened to be a great Continental struggle. It cannot the complete success of the undertaking. Figures are be denied that the Earl of Beaconsfield and his friends produced to show the probability that the stock will not came forth from their different struggles with a fair only be returned intact, but with a handsome bonus amount of eclat. This policy, however, was throughout These figures are predicated upon a material bitterly opposed and denounced by the Liberals as med- saving in the cost of structures as compared dling and injurious to the best interests of the empire. wiiix the Centennial, and upon a large increase in When the Gladstone Government came into power, attendance, proportioned fairly to the greater local Candahar, in Southern Afghanistan, was occupied by peculation here than was tributary to the Centennial. The British or Indian troops, and came under the authority last claim is certainly reasonable, and perhaps we might of the Governor-General; and in South Africa, the ter- say beyond doubt ; the former may prove incorrect. But ritory of the Transvaal was annexed to the British. the actual return of the subscription and a profit is not the possessions. It has been the singular fortune of the important consideration. The Exhibition, if wisely and present administration that both at Candahar and in the energetically managed, has ample claims to pecuniary Transvaal they have had to put forth their strength to suj^rt. The transportation companies will be the hold what had been won. It was believed for a time that largest gainers, immediately at least, and they will sub- the attack made upon Candahar by Ayoub Khan, and the Boribe liberally, with the confidence of men sowing seed fresh experience thus acquired regarding Afghanistan in good ground. But to every business of importance the generally, had changed the minds of Mr. Gladstone and Eixhibition will almost certainly—as the Centennial surely his friends, and that whatever might have been their pur- did—return the cost of a reasonable subscription. It pose in regard to the permanent retention of Candahar, will be another influence helping on and prolonging the there was now no danger that what had been so dearly won good times we are enjoying. Lbt, then, the managers in the first instance, and reclaimed at so great a cost in the determine this question as to site definitely, and they will second, would be abandoned. Similar feelings, within the 8»on find that the business community will, with equal last few weeks, have prevailed regarding the Transvaal. expedition, put the question of means beyond suspense. Now, however, we find that the Government has decided It is time now that the enterprise be taken hold of with that Candahar shall not be retained, but handed over to spirit and heartiness. Abdurrahman Khan, Sovereign of Cabul; and, at the same time, we learn that peace has been concluded MR. GLADSTONE'S FOREIGN POLICY. with the Transvaal Boers on terms which It is now authoritatively announced that two vexed leave them practically independent, with the questions connected with the British Foreign Office—that right of self-government. It is thus manijest that of Candahar and that of the Transvaal Boers—have been after all the trouble and expense in Cabul and Afghan- brought to the point of practical solution. Candahar, in istan generally, and in the Transvaal, the situation both in spite of the opposition which has been raised against the Asia and in Africa is very nearly restored to what it was step by a large and influential section of the English before the respective wars. At the present stage we are people, is to be evacuated ; and happily, we think, for all not concerned with the Tightness or the wrongness of the concerned, an arrangement has been come to in the Trans- antagonistic courses pursued by the two administrations. vaal which is honorable to both parties and which renders We merely call attention to the fact that the one under- further bloodshed unnecessary. took wars which the other has deliberately abandoned. These two questions, and thq manner in which they Such a contradictory course of procedure, whatever may liave, so far at least, been brought to the point of settle- be said in justification on the one side or the other, ment, are very strikingly illustrative of a conspicuous especially when we consider the consequences which it feature of English Parliamentary government. It was involves, can hardly be said to be conducive to the highest the dominant characteristic of the late Beaconsfield admin- good of the British empire or people. ... — 326 IHE CHRONKn^fc. [vol. xxxn. At the moment in Great Britain public opinion is nection with vario-as loans of a very sound character, but the money much divided respecting the action of the Gladstone market has been only temporarily affected and to a very trifling extent. To show how active is the demand for securities Government in these matters. A retrogressive policy, or of undoubted character which bear interest at a very low rate, it what has the appearance of a retrogressive policy, is rarely may be mentioned that the Metropolitan Board of Works 3 per differ- popular with the mass of a people. There is less cent loan for £2,450,000 was a great success. The applications ence of opinion regarding the Transvaal, for from the amounted to £10,250,000, at prices varying from £90, the first it was felt that the Boers had been harshly treated, minimum, to £96 Os. 6d. Tenders at £94 178. will receive about 33 per cent of the amount applied for, and th )se above that and the arrangement which has been come to, while satis- price will be entertained in fall. Manicipal and colonial gov- factory to the latter, yet sustains the national honor. It ernment loans have for some years past been favorite invest- is different, however, with Candahar. On the question of ments with the public, and the fact that some, if not many, retention or abandonment, opmion is not only divided, but investors are still content to be satisfied with about three per on both sides strongly pronounced. It is held by the cent interest per annum shows that a certain degree of diffidence exists with regard Government and those who support it that to retain to foreign government securities and public companies. New undertakings are, Candahar and then annex it to the Queen's Indian Empire however, still brought prominently forward, and they would be a source of weakness rather than a source of seem to find a public willing to subscribe to them. As a rale, it not stronger strength, because while would give a promoters obtain the capital they require, but there is no national frontier, it would unduly extend the teixitory and reason to believe that those companies which have been floated •force into subjection a people who are far more likely to during the last six months will be more successful than those which have been introduced in previous years. They are of a be useful as allies than as subjects. similar nature, and it will probably be found out ultimately The Tories, on the other hand, claim that the possession that the business of the companies coald have been carried on of Afghanistan is necessary for the salvation of the Indian with a smaller capital. The vendors will, no doubt, prove to Empire. It would be well enough, these latter say, if the be the winning parties in thase transactions, but this is not a continued independence and the continued friendship of novelty. the Afghans could be counted upon. But it is not pos- Next week (March 17) the new French loan will be issued for 1,000 million francs in 3 per cent redeemable Rente, the sible, they add, to count on the one or the other. So high price of issue being 83)i. Without doubt the subscriptions &n authority as the Westminster Review, a periodical will be very large. expresses advanced liberal opinions on most ques. which The Bank return published this week is decidedly favorable, tions, says: 'Afghanistan must be ruled by the Emperor and the proportion of reserve to liabilities now amounts to 48M of Russia or by the Empress of India." It is therefore per 9ent. The variations in it have been rather considerable, but opposed to the evacuation of Candahar. For the safety of they are chiefly due to the recent issue of Exchequer Bills, and to the payment of heavy instalments on various loans. India, the Anglo-Indian authorities should seize Afghan- The supply of bullion held by the Bank now amounts to istan at once, and, by confronting Russia, make an end £28,110,133, against £28,646,364 ; while the reserve of notes and of intrigue and aggression. coin is £17,741,883, against £17,093,019 last year. The return Meanwhile, Mr. Gladstone and his colleagues are likely clearly indicates that there must be a considerable drain upon to have their own way; and if one of the effects "of the our resources before money can be expected to rise materially in value. In fact, should we pass over the aext six weeks with- retrocession of Candahar, taken in connection with the out an advance taking place—and this seems very probable — restoration of independence to the Transvaal Boers, should we can scarcely expect any improvement until the autumn. be to make future governments more careful—less rashly The summer months are usually a very quiet period in discount aggressive—what seems a backward movement may prove circles, and there is certainly no reason for believing that there to be a movement in advance, and in the best interests will be any departure from that condition of things during the of the British Empire, as well as of the general cause of current year. The following are the present quotations for money : civilization and progress. Per cent. Open market rates— Per cent. Bank rate 3 4 mouths' bank biUs 2i-2®2'8 Open-market rates 6 mouths' bank bills 2=8 32% |P^auetariTg®0mmcvciaX ^.noltsTt flcitjs 30 and 60 days' bills 2143233 4 >& 6 mouths' trade bills. 3 ®3ia 238»2i3 3 months' bills . BATES OF EXCHANGE AT LONDON AND ON LONDON The rates of interest allowed by the joint-stock banks and AT LATEST DATES. discount houses for deposits are subjoined : EXOHANOE AT LONDON—Mch. 12, EXOHAIfOE ON LONDON. Per eenl. Joint-stock banks '2 Latest _. houses at call 2 Time. Discount On- Rate. Date. ^"»«- Bate. do with 7 or 14 days' notice 214 position of the Ameterdaui SmoB. 12-5 ® 12-512 Mar. 12 Short. 12-15 Annexed is a statement showing the present Amsterdam Short. 12-213 ai2-3is Bank of England, the Bank rate of discount, the price of eon- Antwerp 3mo8. 25&7'aa25-62i2 Mar. Siiort. 28-36 ** Hamburg . . 30-63 92067 Miir. 20-50 sols, the average quotation for E iglish wheat, the price of •20-63 «20-67 Mar. 20-50 .. upland cotton, of No. 40 mule twist, fair second Frankfort... •20-63 'a>20-67 Mar. 20-50 middling CJopcaliagen. *< 18-40 •8 18-43 quality, and the Bankers' Clearing House return, compared Bt.Peters'bg. ** 24% ®21i3 Paris Shert. 25-27i2®25 371s Mar. Short. 25-31 with the three previous years. Paris 3mo3. 23-.50 32.=i-3ft 1881, 1880. 1879. 1878. Vienna ll-87i2®ll-92>3 Mar. Stiort. liV-Vo Circulation, excluding S, £ £ £ Madrid « 4714347I8 bank post bills 23,368,250 26,5.03,345 28.836,885 26,673,845 Cadiz «* Public deposits 1 1,564,863 10.808,536 9,720,720 11,312,460 G«noa •• 25-90 ®2G-00 .Mar. 3mos. 28-43 Other deposits 24.370,087 25,36.->,10:i 28,366,650 22,396,657 Naples '„ 25-90 ®26-O0 Mar. 28-45 Goverum't aecnilties. 15,862,908 16.489.524 14,931,878 15,536,187 liisbou 5238i52i4 Other securities 21,048,313 21,143,701 22,.-)40,444 24,001,885 Alexandria.. Mar. 3rao8. 97% Res've of notes & coin. 17,741,883 17,093,019 19,301,752 12,754,429 New York... Uar. Short. 4 79 Coin and bullion in Bombay .... 60 days Is. S'letl- Mar. 4mos. Is. 86,8d. both departments.. 28,110,133 28,646,364 33,138,637 24,428,274 •* Calcutta .... Is. Siisd. .Mar. Is. 85, ed. Proportion of assets Hong Kong.. Mar. 38. 8'8d. to llabiUtles 48-74 46-83 50-32 37-dO Sbanghai.... Mar. 5s. 2i8rt. Bank rate 3 p. c. 3 p. c. 219 p. c. 2 p. c. Consols 99% Q-\ 96% 9oVld. IFrom our own correspondent.] Eug. wheat, av. price. 41s. 7d. 448. 7d. 398. Id. oOs. 8d. 'led. jied. 6d. London, Saturday, March 12, 1881. Mid. Upl.and cotton... 63i6 Mahch 26, It 81. THE CHRONIOLK 327 GOLD. : d. The stock markets have been greatly wanting in knimation Bar KoM fine per oz. standard. 77 9 » iitaiulanl. lOHia during the week ; but finer weather, a favorable Bank retam, Bar coiitala'g 20 dwts. sUver . . i)or oz. 77 K'>1<1, 75 SiMui.tli iloiiblooiis puroz. 74 O « and cheap money, produced s better feeling towards the close. Himth Amciiciiii (loiibloona l>cr oji. 73 9 » United States gold coin per oz., none here. ... .a Business, however, ba.s been far from active, the news from imro*. 70 3>4* ...... •Genuaii cold coin and Greece being unsatisfactory. gll.VKK. «. «. Turkey Bar Bllvor, flue jwroz. standard i}238 ® .... The wheat trade was firmer in the early part of the week, Bar silver, ooiitain'g 5 grs. gold per oz. standanl .^)2% » .... I'o'o^. •• and there was some tendency to improvement in prices; bat Cakcsilvir v'?!" l>cr oz. ol^ 2» .... Mexican dollars larger shipments from the United States and finer weather CMUan dollars ....poroz a .... Quicksilver. £6 15s. Od. DUoount, 3 per cent. have caused a quieter feeling to prevail, and the markets dose There has been no material change in the rates for Indian with a quiet appearance. exchange. India council bills were sold on Wednesday at 1h. During the week ended March 6 the sales of home-grown 8 l-16d, being the same price a-s in the previous week. wheat on sale in the 150 principal markets of England and The following are the current rates of discount at the princi- Wales amounted to 31,525 quartern, against 29,529 quarters last pal foreign centres year and 44,491 quarters in 1879 ; while in the whole kingdom Bank Open Bank Open is estimated that they were 126,000 quarters, rate. market rate, murkuf. it against 118,120 Fr. et. Pr. el. ly. ct. I'r. el. quarters in 1880 and 178,000 quarters in 1879. Since harvest Paris 3>a 3-4 St. Petersburg... 6 5^ Amsterdam 3 2°H Geneva 4 5 the sales in the 150 principal mark*8 have been 1,040,720 quar- 8'4 .Madrid Cadiz Bmssels. . . 313 & ters, against 863,222 quarters last season and 1,516,542 quarters- Genoa 4 3»a liarcelona 4 5 in 1878-9 j the estimate for the whole kingdom being 4,162,880 Berlin 4 2 r.iHbon & Oporto. 5 5 3I3 Frankfort. 4 2 (;<>ponhagen 3 's94 quarters, against 3,488,800 quarters and 6,066,160 quarters in Hamburg 4 l''8®2 New York 5»6 tne two previous seawons respectively. Without reckoning the Vienna 4 33314 Calcutta 6 supplies furnished ex-granary at the commencement of the A meeting has been held this week to protest against the season, it is estimated that the following quantities of wheat charges of the railway companieH for the conveyance of agri- and fiour have been placed on the British markets since harvest. The visible supply in the United States is also given : cnltural produce. The grievance is (and it is a serious one) that 1880-1. 1879-80. 1878-9. 1877-8. foreign produce is forwarded at a lower charge than that Imports of wheat.cwt. 30,745.890 33.099,245 25,7S6,i>0l 31.5?9,915 4,3i)0,121 which is made for domestic produce. At Liverpool, for Imports of flour 7,039,487 6,024,232 4,605,313- Sales of home-grown instance, the quantity of grain arriving from abroad is so large produce 18,006.000 15,181,150 26,286,700 21,491,700 companies which concentrate there that the various railway Total 55,791,377 55,204,627 50,433,424 78,869,92» compete freely, and underbid each other, in order to secure the Deduct exports of wheat and flour. 768,477 670,153 1,105,228 1,062,048 trade. Farmers, however, do not carry on their business at 55,328,197 those points of collision, and as there is usually an absence of Result 55,022,900 54,534,461 56,624,88» Av'ee price of English competition at the nearest stations to these farmers, they are wheat for season (qr.) 428. 6d. 46s. lid. 408. 4d. 53s. 3d. Visible supply of wheat compelled to pay the charge demanded of them. The land In the U. S bush. 25,700,000 27,259,552 21,416,360 agitation in Ireland must sooner or later extend itself to Scot- The following return shows the extent of the imports and land, as there are many grievances to be remedied. The strug- exports of grain, &c., into and from the United Kingdom season, gle will, no doubt be protracted, as Parliament chiefly repre- during the first twenty-eight weeks of the compared with the corresponding period in the three previous seasons: sents the law, railway and landed interests, and these are not mPOBTS. seriously desirous of change. 1880-81. 1879-80. 1878-79. 1877-78. At a meeting this week of the Bank of British Columbia, the Wheat ...OWt. 30,745,890 33,999,245 25,786,604 31.529,905 Barley 7,529.905 9,135,111 6,6l',(,516 7,860,766 Chairman stated that, as to the branch at San Francisco, bank- Oats 5,243.629 7,647,147 5,884,822 6,009,116 Peas 1,373,620 1,253,231 862.211 973.544 ing business had not recovered its*'lf as had been hoped. The Beans 1,224.427 1,570,422 677,387 2,191,913 state of affairs, however, indicated an improved business. The Indian com 17,218,825 11,890,625 15.883,902 15,931,471 Flour 7,039,487 6,024,232 4,360,121 4,665,313 competition in the banking world of San Francisco was very EZI•ORTS. in keen, and there was a difficulty employing money at a fair Wheat ...OWt. 698,278 670,117 1,023,285 1,025,961 rate of interest and on solid foundation. The rate of interest Barley 37,635 14,618 79,693 32.551 Oats 414.827 60,929 54,281 68,035 there instead of being from eight to twelve per cent stood at Peas 49,990 81,149 10,646 14,097 Beans 20,890 23,819 6,697 11,546 four and six per cent. seven per cent interest A was a very Indian com.... 170,666 534.839 272,601 75.530 unusual rate. Moans had been taken to keep down the ex- Floiu' 70.199 70.336 81,943 36,082: penses at the branches, and he believed that the time was not far distant when they would have a better condition of banking ®0mmct:clal autH^Hscellaweatts J^cms» business in San Francisco. The business of their other branches National Banks Orqanizbd. The following-named national proved a marked success. It was only fair to the managers of — bank was organized this week : these branches to say that they were conducting a safe, and, 2,511—The Merchants" National Bank^of Cedar Kaplds, Iowa. Anthor believed, judicious system paid-in capital, 0. he a of business, and were realizing a Ized capital, $100,000 ; $100,000. Redman Stephens, Pr^ldent; Chaa. H. Clark, Acting Cashier, fair return for the money that had been invested. He antici- Imports and Exports for thb Wbbk.—The imports of last pated that the opening of the great railway which was to con- week, compared with those of the preceding week, show nect Pacifie the with the Atlantic Ocean would have a good a decrease in dry goods and an increa.se in general merchandise. eflfect on the future of the bank. The total imports were -'^9,482,370, against $9,510,192 the pre- ceding two weeks previous. The exports There has for some time past been a report «urrent to the week and $10,245,513 for the week ended March 22 amounted to -^7,800,595, against effect that the Great Western & Grand Trunk Railway Compa- $8,325,399 last week and $8,921,297 two weeks previous. The nies of Canada were about to amalgamate ; but there seems to following are the imports at New York for the week ending be no prospect of such an arrangement being made. The (for dry goods) March 17 and for the week ending (for general totals since January 1: report has evidently been circulated for Stock Exchange pur- merehancSse) March 18j also FOBBION IMPORTS AT NEW YORK. poses. The Chairman of the Great Western undertaking has issued a pamphlet on the question, of which the following is an For Week. 1878. 1879. 1880. 1881. extract Dry Ooods $1,942,845 $1,786,583 $3,580,506 $2,985,818 The main charge against the present management of the Gen'lmer'dlse.. 4,950,956 4,016,975 8,143,675 6,496,552 Great Western is that they "prefer American to Canadian $11,724,181 $9,482,370 allies," and that they will not de.sert the former for the Grand TotiU $6,893,801 $5,803,558 Trunk. Since Jan. 1. The fact is, the Great Western desire to be the allies Dry Ooods $23,674,079 $24,380,035 $34,137,265 $29,444,231 of both- but if the Grand Trunk will only accept alliance on Gen'lmer'dlse.. 46,527,993 46,303,639 78.859,674 60,014,61» the condition of the Great Western breaking with their Ameri- Total. $70,202,072 $70,683,674 $112,996,939 $89,458,850 can friends, we s&y at once to the Grand Trunk, and we cannot say it too emphatically, " If we must choose one, we much pre- In our report of the dry goods trade will be found the imports fer them to you. They aided us by large pecuniary grants to of dry goods for one week later. make our property what it is—a link in their east and west The following is a statement of the exports (exclusive of 8ystem.s—when you had gratuitously injured us by building a specie) from the port of New York to foreign ports for the competing road through our territory, thereby practically week ending March 22, and from January 1 to date: destroying the advantage of our connection with you at EXPORTS FROM NBW YORK FOR THB WBRK. loronto and the ; value of traffic interchanged with them to-day IS about half our revenue. If we risk this to carry out 1878. 1879. 1880. 1881. your suggestions, what can you offer us in return ? Not a pas- For the week... «6,948.985 $6,098,015 $8,146,413 $7,800,595 * 1^"° °^ 8°°<^* ' ""'J^ *•»« s'l^re of a problematical V'oM^h^'^^».4U0,(X)0— Prev. reported.. 75,187,785 65,994,392 68,360,716 83,367,984 no kind of equivalent, could it even be assured us. Xor the loss. Total s'ce Jan. 1 $82,136,770 $72.092,407 $76,507,129 $91,168,579 — . : : ; 328 THE CHRONK^LE. fVou XXXIL The following table shows, the exports and importH of specie since at the port of New York for the week ending Mar. 19 and January 1, 1881: BXPOBTS AND IMPORTS OF 8PE0IB AT NEW TORK. DIVIDENDS. The following dividends have recently been aunoimcod Exp Silver. The Money Market and Financial Sitnation.—It will b« $285,000 »2,558,97.'j $4,200 $79,598 Oreat Britain a great relief to Wall Street when it is no longer ncces.sary to Krauce 22,850 Germany 10,773 13,373 watch the daily Washington dispatches before shaping the moet 8,085 147,990 West Indie* , 1,000 Mexico 52,838 428,101 ordinary business transactions. When the whole &overnment South America 18.757 4,293 36,857 debt has been funded into long bonds at a low rate of interest All other countries. 12,289 ."^0 when the greenbacks have been retired and coin in their stead Total 1881. S2tt2.778 82,624,649 $01,136 $707,969 placed in circulation ; when the revenues of the Government Total 1880. 52,085 1,450,380 14,763 1,325,496 20,237 Total 1879. 700.,571 4..143.148 187,400 2.3 have been cut down to its plain yearly requirements, without Of the above imports for the week in 1881, $7,189 were any periodical surplus to come bulging on the money market ia American gold coin and $11,142 American silver coin. one shape or another—then we shall have returned to the good —The New York Life Insurance Company's statement was old democratic days of republican principles, when it was by no published in the Chronicle a few weeks since. This is one of means considered the legitimate province of the United States the great life corporations which shows a very handsome state- Government to engage in a species of general banking businesB. ment of business for the year 1S80. In the large increase of recognized, of course, as a neces- business for that year and the increase in gross as.sets, amount- The present circumstances are ing to nearly $"),000,000, the progress of the company is well sary result of the " unpleasantness " of 1861-1865, but it should to shown. The total assets on January 1. 1881, amounted no less be regarded as &.n evil to be terminated as soon as pos- 143,183,934, of which $14,925,174 was invested in United States. sible, leaving commercial and financial interests to be governed New York City, and other stocks and bonds, and $16,464,922 then left free to control tha was in real estate mortgages. The executive officers of this by the natural laws which would be oompany (Mr. William H. Beers, Vice-President ; Mr. Morris markets. Franklin, President, and Theodore M. Banta, Cashier) have The above remarks are pertinent to the situation tJiia we«k, brought the company up to its present position. as the Stock Exchange fluctuations have hung from day to day —Messrs. Fisk & Hatch, No. 5 Nassau Street, have issued an on the probabilities of an extra session of C!ongres3, and the pos- interesting circular relating to the present situation in Govern- sible action of the Secretary of the Treasury in case of no sueh ment bonds, which opens as follows : session, and only to-day was the news obtained that no extra " As the fives and sixes of 1881 are nowsellinjtat very bi^h prices, considering the short time they have to run, and as it is ci>rtaiii that no session would be called. On the strength of this news, stosks funding hill can be passed through Congress authnrizln i< bonds hearing a higher rate of iutereat than 3 per cent, or having a longer certain time generally advanced 1@2 per cent, or more. friends and customers to run than five years, wo are suggesting to our The details of the recent French loan, as they come to be better to embrace the present opportunity, while the fours and four-ami-a-halfa can be obtained at their present low price, to exchange their fives and known, are such as to make the negotiation appear very ma«k sixes of 1881 for these Issues, and thereby place their investments In Tribune correspon- governments on a secure footing as to durability, and avoid the rush less favorable than at first supposed. The and the higher prices for the loug bonds which will ensue us soon as the dent telegraphs: The new bonds run for seventy-two years Government commences to call in the fives and sixes for redemption." instead of twenty-two, and there is also a redemption plan by —The Car Trust bonds oflfered by Messrs. Clark, Post & is drawn every Martin, of New York and Philadelphia, have become a favorite which one seventy-second part of the bonds investment, as the company pays dividends promptly, and it year at par. Thus, a buyer at 83^ has a chance of having it furthers the construction and operating of railroads, being diawn next year, and of getting over 16 per cent profit. Yet, amply secured by its lien on the rolling stock. with this inducement of a large possible profit, the French people —Attention is called to the card of Messrs. Prince & Whitely would not give over 83M for a three per cent bond. in another column. This firm is now one of the largest stoek The money market has been sufficiently easy, and the quoted houses in the Street, doing an extensive business with all the business are about per cent. leading cities, being connected by private wires with the prin- rates on call for all classes of 4@6 cipal houses in each city. Prime commercial paper is quoted at 5@6 per cent. —Messrs. John J. Cisco & Son will pay the coupons of the 1 The Bank of England on Thursday showed a gain of £229,000 consolidated eight per cent bonds of the Houston & Texas n specie for the week, and the reserve was 48 13-16 per cent Central Railroad Company due April 1, 1881. the discount rale of liabilities, against 46^8 per cent last week ; remains at 3 per cent. The Bank of France gained 27,039,000 BANKING! AND FINANCIAL. francs in gold and 2,250,000 francs in silver. FISK & HATCH, The last statement of the New York City Clearing-House BAyKERS, banks, issued March 19, showed an increase in the surplus above AND DEALERS IN GOVERXMEMr BONDS, legal reserve of $1,892,900, the total surplu-s being $2,310,300, the previous week. And other desirable Investment Securities, against $417,400 changes from the previous week No. 5 Nassau Street, New York. The following table shows the and a comparison with the two preceding years Buy and sell all issues of Oovemmant Bonds, iu large or small amounts, at current market prices, and wlU bo ploasad to furnish information in 1881. Differ' neesfr'm 1880. 1379. March 19. previous week. March 20. March 22. reference to aU matters conneotod with iarestmauts in Government Inc.?.3,924,400 $294,407,400 i2 43.839,800 Bonds. Loans and dis. fSOO. 177.300 Specie o!J.5.">2,000 luo 3,081,000 5ri,410,100 1>,803,700 Ino 305.000 20,975,800 l'j.290,900 We are prepared to give information in regard to flrst-olasa Railway Circulation . . l.i.771.IO0 Inc. 204,538,300 206,591,400 Net deposits . 277,i)31.GJ0 6,202,800 Securities and to execute orders for tha same. Legal tenders. 12,211,200 Deo. 225,400 11,555,100 36,972,800 Buy and soli all marketable Stocks and Bonds on oomniissiou, at the Legal reserve. $G0.4S2.n00 Inn .$1,565,700 $66,131,550 $51,647,850 Reserve held. 71,703,200 luo. 3,158,000 66,995,200 55,778,300 Stock Exchange or in the ojjen market. $1.8q2.900 $S00.?>.50 *l. 128.450 Receive accounts of Banks, Bankers, Merohanta and others, an! allow Surplus $2,310,300 Inc Interest dally on balauoos ; andfortho^e koaplng accounts with ua we United States Bonds.—There has been quite a large busi- collect U. 8. coupons and registered lutorest, and other coupous, (iivi- ness in Government bonds in the way of changes back and forth, dende, Ac, and credit without charge. parties selling fives and sixes and buying fours, others tjff^ Wo give special attention to order.? from Banks, Bankers, Institu- some to-day from tions and investors out of the city, by Mall or Tele: Maich 2«. leei.l THE CHRONICLK 329 though this is is not precineljr chased under the offer of Secretary Sherman during the month ville parties; how far correct known. To-day a t«mporary injunction was obtained by Mr. April next, as the transfer boolcs will be closed during that of Villard, of the Oregon Railway & Navigation Company, claim- month. ing to hold 20,000 shares of Nurtliern Pacific, forbidding the The cloflinp prices at the New York Board have been as follows: issae and transfer of tlii> $18,000,000 stock, though it in supposed that the issue has already been made. March March March March Interest March March The general market has shown a tendency to weakness until rerioiln. 19. '21. 22. 2J. 24. 2."). the rally of to-day, but it is plain that a considerable short inter- •102 •102 •68,1881.. reg. J. & J •102 '4 •102>4 •102 '4 •102 •« '9 est is existing, and on each turn the rush to cover has given a •102 •1,02>4 •102'8 •102 •102'« 68,1881.. coup. .r. & J. '.I •102k quick support to prices. •10138 •10138 10138 "lOl'.i 8«, 1881.. reg. Q.-Feh. 'lOl^l •1013a 10138, •IOII4I 10138 The daily highest and loweflt prices have been as follows: 6«, 1881.. coup. -Fcl). 101 1.1 10138 10138 4>98, 1801 reg. Mar. •111381 •11136 lllin 111»8 •Ill's 'til's Mar. •Ill's •11138 •Illifl •Ill's •Ill's •lll'u SatuTflav. MimiUty. Txiadny, Wttlnt*it. Thundav. fWdov. , coup. iH». 1801 March W. March Si. March ihl. MarchiS. UarcKU. Marckf 11 '-'«8 iriij II2I4 11238 '11239 4«, 1907.. reg. .-Jan. 112>2 113B8 1131« 4a, 1007... coup. .-Jan. 11^2 •113% "1133b n3»8 Am.Dlst. Tel. 04 6SH 64 HH ta>4 64 ee 86 •130 •130 •130 68, cur'oy, 1895.. reg. & J. 1301.J l.HO 130 Amer.Un.Tel. •130 •130 •130 TflH "» 68, eur'cy, 1898.. reg. & J, 130"- •130 130 Canada South. SIX -9ii 80M 79H Cant.of N. J.. I02)« lOIMlO^X va our'oy, 1897.. reg. & J. •Ki.i'fl •130 130 •130 •130 •130 104M mn 68, Ceot. Paolflo. 86 se 50 hO 84 .rog. J l.'lOii •130 130 •130 •130 •130 MX 68, our'oy, 1898. & Ctaea. A Ohio. •24W 2S 24^ 2Hi 21 24 ;3 'Mit 130i«| 'ISO's 131 •131 •ISO's •ISO's 6b, our'oy. 1899. .reg. & J. Do Iflt prf 87(J am »)« mi aVA ST< S4 84 Do Sdprf. 27M 27>i 26(J 26^ 2S,Si 26] * no tale wa8 made. Tbl8 Is the price bid at the morulug board ; Ohio. * Alton l.W 13S •|»8 13» 137 137 188)2 187 Chic Bur.^g. 10.S IKi I6< IKS 162 I6^4< iei)J :h2 range in prices since Jan. 1, 1881, and the amount of The Chlo.M.iSt.P. no iii»s lODHllIKi lOWl^ IIOU 108 : lo-v; pref. ttaa i^:i 12:1 121 121 i'iiX;-.;iM, of bonds oat-standing March 1, 1881, were as follows: Do 123H each da« Chlc.*N. W.. 122 123 I2IM122^« I2it«i laati 119 iOTX, Do pref. !:« l;« \:iiii i33Ki l;i:) iici Range since Jan. 1, 1881. Amount March 1, 1881. C.K.I.AP.new 132 133 ISIIU 132 iiiX 132),; Ch.8t.l..*N.l) •71 7:1 6»S '•() 70 71 Lowest. Uighaii. Registered. I Coupon. Ch.St.P.M.SO «1« 43 41 41^ 40K 43 1)0 prof. 9«X IM'A m loox »lii DO KJ 68,1881.....op. lot's Jan. 3 102 14 Mar. 11 .^150,875,5.50 $44,080,4.50 Clev.C. C.&l 88 86 83 Col.Chlo.AI.C 24 ^4^ Mii 21 23!< 24 58, 1881.. ..cp. 100'4 Feb. 24 lOl'sJau. 28 323,2m,750 140,101,900 Del.,klI.Oaniil louu 1 low 10714 :iO!< '.litt Ill's Mar. 10 113 Feb. 19 177,434,300 72,5():i,70ll 107K 4'B8, 1891. .cp. Oel.l.aok.AW. i2;t« II8K 12:% I'.T'X :2ii l,3,"i0 1211.J 48,1907... .ep. 11238 Jan. 3 114 Feb. 18 530,70 201,800,700 Denveri U.O. lOlM 102'^ 100 im KHilu I02)li 330 THE CHRONICLE. [Vou XXXII. returns can be obtained. The columns under the heading New York City Banks.—The following statement shows the " Jan. 1 to latest date" furnish the gross earnings from Jan. 1 condition of the Associated Banks of New York City for the to, ajid including, the period mentioned in the second column. week ending at the commencement of business on JIarch 19 . 1881: LaUst eartnngs reported—^ ^-Jan. 1 to latest dale. — WeekorMo. 1881. 1890. 1881. 1880. A]».Gt. Sonthem.Fcbniary.. $03,291 $51,227 $120,282 $106,628 Average amount of Atoll. Top. & S.F.lstwkJiin. 151.0()0 90,000 151,000 90,000 Bank!. Capital. Loans and Net depft Atl.Mias.&Olilo. January. .. 164,917 156,870 164,917 156,870 Specie. other Olrevla- dincounts. Tenders. tion. Bo8t.cfeN.Y.Air-L..IamiarT... 20.4:i8 21,587 20,438 21,587 tlvm U. S. , Bur.C.Kap.&No..2(Uvk Miir. 2J.0.14: 43,359 337,681 434,991 Cairo .St St. Louia.lst wk Mar 10,152 8,200 75,440 56,324 « * 8.715,000 Central Paolflc. ..Fi'lmiary.. 1,400,000 1,070,487 3,002.907 2,271,101 New York 2,0(XI,000 1.546.000 348,000 7.498.000 485,000 Manhattan Co... 2.050,000 6814.800 8:a.300 210,000 5.047,900 400 Alton '-'ilwk Mar. 142,287 Cliifa«» & 169,046 1,203, 869 1,330,940 Merchants 2.000,000 8.923.400 i,o-<:7,»ic 744.400 6,144.300 360,000 Clilc. it Kiist. in.JilwkMar. 30.504 19,030 300,561 197,458 Mechanics' 2,000,000 7.a4a.000 1,329.000 218.000 8,011,000 Chie.&(i.Trk.\Vk.in(l.Mar,12 23,601 22,501 239.6.'>7 193.243 Union 1,200,000 4.5»».20U oau,7flo 6,700 3,047,100 Cliio Mil.&St. l'.:iil wk Mar. 213,000 204,182 2,167,000 2,091,215 America 3,000.000 9.125.200 1,165,700 281.600 6.303.500 1,100 3.049,000 Cliic. Northw. Feliniary.. 957.300 1,131,683 2,197,907 2,286.315 Phoenix 1,000,000 775,000 72,000 3,746.000 267,000 & 8.564,500 Cliic.St.P.Mli,&0.2ilwkMar. 33,297 27,209 295.246 251,334 City 1,000,000 2,760,800 176,000 0,3«2,200 Tradesmen's 1,000,000 3.173,600 357,100 65.800 1.951.800 78t),96» S.0iiy.2il 8t.raiil& wk Mar. 15,282 27,921 197,234 225.298 B^llton 600,000 1,658.500 8,ia,000 130,900 1.248.600 Cbic. & W. Mich. .3il wk Jan. 15,226 12,246 44,091 36.603 Chemical 300.000 ll!,247,30C 3,008.800 280,800 12.134,300 :!iii. Ind.St. L.&U.rt-bniary.. 160,981 172,541 332,447 328,238 Merch'nta' Exch. 1,000,000 3.498,200 441,800 384,700 3.173,900 220,700 Ciu. Sand. & Clev.3d wk Jan. 1 1.215 10,741 36,398 31.619 Oallatin Natlon'l 1,000,000 4,479.100 686.500 82,200 2,734,600 "90.S00 Butchcrs'ADrov. 800,000 1.809.000 840,900 80,400 1,526,000 244,800 Oin. & BpriuRf . . .2i', wk Mar. 17,892 16,430 180,682 165,990 Clev.Col.Cin.&1.2dwk Mar. 75.670 74,864 716,869 749.718 Mechanics' & Tr. 200,000 945.000 160.000 108,000 967,000 174.000 Greenwich 200,000 989.200 28,400 176,100 981,700 2,700- Clev. Mt.V. & I>cl.l St wk Mar 7,764 7,965 69,984 76,770 Leather Man'frs 600,000 2.8^2,3O0 663,400 61,000 2.161.800 476,000 Denver & Rio Gr M wk Mar. 85,294 35,537 885.186 359,373 Seventh Ward... 300,000 017.800 136,100 7o,OOC 849,600 37,600 DeRM.&Ft.D(idi.-eUliwk Fob 3,879 5,509 41.440 39,444 State of N. York. 800,000 3,456,400 668,500 82,300 3.335,000 Dubnque HABcn 36, 1881. J THE CHRONFCLE. 331 QUOTATIONS OP STOCKS AND BONDS IN NEW YORK. V. 8. Bondg and active Railroad Stocki are quoted on a prevu>xt» page. Prieet repretent the per cent value, uhatever the par map be- STATE BONOS. BECCRITIB8. BUI. Atk. BCCCltlTIEg. Bid. Aak. sicuBmis. Bid. 8KCDHITIB8. Old. 1883... 108 Alabwnft-Clau A, £ to S . . TIM WK MlchlKan-«s, N. Carolina.—Continued Rhode Island—aa,ooup.'HI-9 Class A, 8 to 9, small ',4 120 68, old, A.*0 South Carolina— Class B.Os 94 Mlssourl-^s.'duo 1888 or '88 104 No. Car. KK., J. A J ei. Act Mar. 83, 1860. Class 0,8 to 6 84H 6«.duel88fl I08k' do A.AO Non-fnndablo )' " BM 68, 10-20S 108 Hs.due 1887 108U do coup, oir, J. ftj. Tennessee—6a, old OS lOM off. ArkanMiirt—Hs. funded 28 6».due 1HH8 do coup. A.&O. 6b, new ^ 6s. 188U or '00 1181^ i866 7b. J>. Kdok & tt. Soott Iss. UK duo Pandlnnact. 6s, new series M *98 118 78, Mfiiiii. i 1,. IldCk HH . 10 Asylum or Univ., duo do 1888 VIrglna—«8, old 31 Ts, L. K P. U. A N. (). Hit. »« iii« Funding, lS»4-95 115 New bonds. J. A J 6«, now. \mn SI 78. MlBS. O. & U. U. KK... Wi lliinnlbal A St. Jo., 1886. 108 do A.iO ee, now, 1887 81 7s. Arkantuis Centrul Hit. do do 1««7.. 108K Chatham RK BM 6«, consol. bonds iin Connecticut -«8 104 New York—68. gold, reK.,'87 109 Special tax, class 1 ...... 6b, ex matured coupon 78H M Geor(fla~«a 1119 88. gold, coup., 1887 ion do class 8 8 Ob, consol., 2d series 106 78. new 111 Os.Voan. 1HW5 do class 3 6e, deferred UM 7s. endorsed. 111 6b. do 1891 118 Consol. 48. 1910 D.of Columbla-3-6S«, 1984. 10«J 7s. sold 11«K 119 68, do 18l>8 119 Small Registered losv I^oulsluna—78. consolidated S9>< tm 8s. do 189S 120 Ohlo-flB. 1881 Funding Se, 1899 110 North Carolina—68, old.JftJ 83 68.1886 do registered no RAILROAD AND miSCELI.ANBOi;8 STOCKS AND BONDS. Cont'd, Marietta Chic Mil. A 8t. P.— A Cln.— Ist mort. Wab. RR.-Continued. I Railroad Stocks, | 2d mort., 73-10, P.D.,18WK laiJi Ist mort., sterl Hannibal iBt 78 106 (Ac(tp« nrevioHftv quoted.) A Naples. 1st m.,7s.$g'ld,R.D.,I902 tI33 Metropolit'n Elev— l5t.l908 104X 1041 St.L. K.C A N.lf. E.A R.,7b' lOBu'lW Albany dr Sunquoliunna — *I83 I)iv.. 1893.... Metropol. Elev.—2d Bs. 1898 96 961 lBtm.,LaC. I Div., Ist mort., 78 tl\»H H* Atchison Top. A Santa Fe. Omaha ist m., I. A M-, 1H1)7 126 Mich. Cent.—Cons., 78, 1902 126] Clarlnda b..««. 1919 99 Bostou A N. v. Air L.. pref. ist m., 1. A D., 1899 tl88 1st mort., 88, 1882, 8. f... 111 St.Chas.B'dge.lst, 78, 1908 104 lOM BolBilo Pitts West 184" }< A iBtm., C.AM., 1903 Vil Equipment bonds North .Missouri. 1st 7b :i23 do do pref. m., Con. sinking fund. 1906... 180« 121,4 68. 1909 West. Un. Tel. -1900, coup. 133 Burl. Cedar KapldB Imo. . A 70 2d mortgage. 1884 ;i04 Mo.K.A T.-Gen.con.68.1920 80 1900. registered 1» Cedar Falls A Minnesota.. 1st m., 'fsTl.A D.F;it.,1908 120 lai' Cons, asB.. 1904-8 106 Osntral am Spring. V y W. Works-lBt 6b Iowa S.-west div., Ist 6s. 1901). lOrt I06H 2d nnirtgage. inc., 1911 82J< 82« 10B« do Ist pref Oregon It. A Nav.— l8t, 6b IstSs, LaC. A Dav.. 1919. 95^ 96« n. A Cent. Mo.. iBt., 1890. tl094i{ do 8d pref INCO.MK IIONDH. IstSo. Minn.div. 88, 1910. 108 Mobile A Ohio—New m., 69, 109 Alabama «S0 Chicago A Alton, pref Cent'l Inc. 68,1918 iUO Ist ra.. H. AU..7S. 1910... tllS Nash. Chat. A St. L.— Ist 7s 117 Central of N. J.-1908 Cin. Ind. St. I.. AChio Chic. A Pac. dIv., 6s,1910. 107 109 N. Y. Central-68, 1888 «io4)ii:o«« 100 Cln. Sandusky Cleveland Chlc.St.L.AN.0.-2d m. 1907 A Mln'l Pt. Div.. 5s, 1910.... lOS 88,1887 10!) •8 Ciev. A Pittsburg, guar Col.Chlc.Alnd.C.,inc.7B,1890 129 Chio. A Northwestern- Bs, real estate Cent. Iowa coup, debt certs. Danbury A Norwalk Sinking fund no Bs. subscription Dubuque A Sioux City C.St.P.A.M'sL. Gr..In.68,'98 i79 Int. bonds no N. Y.C. AHud.,lst m.,cp. 1S17« 138 Cnlc.A Kast'n 111., Inc..l907. 106 Flint A Fere Murq., pref. , i9i Consol. bonds 130 133 do iBt m., reg 181>j 183 74 78 Frankfort A Kokomo Ind'sBI. A W'n-Inc, 1919. Kxtension bonds 109 Uuds. K.,78,8dm.,«.f.,'8i :10M 111 Ind's Dec. A Sp'd, 3d Inc.. ao Harlem 1st mortgage no Canada South., 1st, Int. '«* Ind Bloom- g. Int. A Gt. Northern—Sd Inc A Wostero 170 Coupon gold bonds 186(^ Harlem, Ist m,, 7s, coup.. lll^i 98 Keokuk A Des Moines Leh. A Wilkes B.Coal— 1888 116 Iti'glstered gold bonds 1^5 do Istra.. 78, reg :3i I! Ijlke Erie 7S)< 79 do do nref. — A W'n-lnc7B.'96 143 Sinking fund lllH -V. Y. Blevated-lst. 7S.1906 119 Louisiana A Mo. River. 118>t do Sand'y Div..inc.l920 do registered. «109H N.Y.Pn.AO.,prior lien 63.95 Ijlf. Bi.A .Mun.-lnc. 7.1899 73 ri" IionisT. N. Alb. A Chicago.. vi' IJI 139" Manhattan Beach Iowa Midland. Ist m.. 8s. N.Y.C.A N'n,Gen.M..Bs.l910 97 .MobileA O.—iBt pref. deben 86M Co 137 Galena A Chicago, exten. 101^5 N.Y.AXewKng.-Ist 78,1005 Mempliis A Charleston 2d pref. debentures Peninsula, Ist m., conv... 1st Bs, 1905 Sd do 41 Milw. I,. Shore w.. pref. A 439i Chic. Mil., Ist tl20>, .._ Nevada Central— Ist m. 6s, 108 40 Missouri Paolflc A 4th do Winona A St. P., Ist m. .. »:07>iil09K N. Pac. bond cert. 6s. 1921.. 100 108 N.Y.IjikeE.AW.Inc. 69.1977 H. Y. New Haven A Hartf 155' »115 1118^ Ohio Miss.-Consol. ll»,m20 N. y. Ontario West..pref do 8dm — A s. f 'd N'.Y.Pa,&0..l8t inc. ac. 5-79. A Ind's—l8t, 8. f. C(m80lidittod .. Peoria Decatur A Evansv.. C. C. C. A 78, *118>v N.O.Mob.Alcx,deb.9C.1930 iS6' *!!.'Jl82 1 Consol. mortgage 2d consolidated 126 188 Ohio Central—Inc., 1980... Pitts, yt. W. A Chic. guar. 131 ll2}i .. Ten. lien 7s Ist m., Springlleid div . . liiMll* Rensselaer Saratoga C. St.L.A N. O.- Ogdb'gAL.Champ. inc. 1980 A 1st con. 7s n'iii] ... Ohio Cent.. 1st m.. Bs. 1920 :u4 Rome Watertown Ogd... 186' 104X do do small A C. St. P. Mlnn.A 0'aCons.6s. 103M 104H do Ist Ter'l Tr.,68.1920 108 75 St. Paul Duiuth Peoria Dec A K'vli;e—incs. A I89X Ch.St.P.A Mln..Ut 8S.1918 »110>,| ... Panama S- F. Sub'y Bs. 1910 74 do do pref. Evansv. div. Inc. 1920 .. N.Wisc. l8tM.,83.. 1930.. I'ooria Dec, A E'ville. 1st Bs SIO8 107 St.L.I.M.AS.-l8t7B,prf... 91K St. Paul Minn. A Man . (92 St. P.A Sioux C.lst 68.1916 lii" iia' Evaiisv, iliv.,lst Bs, 1920. tios 8d Bs, int accnm'Iatlve 86^ Toledo Delphos A Burl . • SOW Dei. Lack. A W.-7s, conv.. illS^ 120 Pacific Uailroads— Stg.IronA R'y.Ser'8B.Inc.94 1907 124 128 Central 113 11S« 40 Mortg»ge7s, Paclflc—Gold bds, Jol.Delp.A Bur..Inc,6s.l910 1|« Hiscellaneous St'ks, Syr. Bitgh. AN.T., l8t,78 120;(i 125 Sanjouquin Branch 108 do Davt. Div. .69.1910 40 Adams Kxpress 138 130 MorrisA Essex, 1st m 134>s|135)i Cal. A Oregon. 1st 104H Tex.A St.L..Ld G.,lnc.,1980 96 117>» American iCxpress 70 do 2d mort...... State Aid bonds *105 Ill 108 Dnited States Kxpresa JS6 do bonds. 1900 Land grant bonds Miscellaneous List. of 1871. 120 n: Wells, Kargo A Co 117X 118 do 7s Western Pacific bonds.. {Itroket'K' 832 THE CHRONKJLE. [vot. zxxn. NEW YORK LOCAL SECURITIES. Bank Stock List. Imsnraoce Stock LUt. [Qootatlons by K. 8. Biilst, Broker,? Pine Street.] Net •LTn'St'^SP ?. amount Capital,. Surplus DlvrDKNT>s. Paicm. COHVAxna. Jan. 1. Par. Amount 1881.* 1878. 1879. 1880. Laat Paid. Bid, America* Am. Exchange Bowery American i 50 400,000 540,073 14 10>s 10 Jan,, '81. 5 155 1«S American Bxcb Broadway lOO 200,000 79,4''.2 10 10 10 Jan., '81. 6 I OS Bowery 2.1 Batchen'&Or. ,300,000 447.677 20 10 .Ian ., '81.10 195 CiEiQtral Uroaiway 25 200,000 833,121 18 18 Feb., 81. 8 200 213 Ctiane Brooklyn 17 15,3.000 218,870 20 20 20 'Ian., 81.10 200 Choihatn Citizens'. ...1 20 800,000 493,810 •20 20 20 Jan., •81. 5 65 Chemical City... 70 210,(X)0 13V,2•^7 10-72 10 10 Feb., »1. S 121 Citizens* Clinton 100 2.50,000 182.245 12 11 10 ,Ian., '81. S 130 Columbia 1,42'5 City . SO 300,000 N'ne July 'T7. 5 80 66 Commerce Commercial ... 00 200,000 9«,596 18 lb" ib" tan., '81. 5 100 110 CoBltB'^ntal Continental., t 100 1.000,000 1,256,138 13 40 13-66 13-77 Jan., •81. 7 230 Corn KxcU^ge*. Kagle 40 300,000 801,090 20 IS 15 Oc ., •80. 7U 310 JCastKlver .. KraplreCIty.... 100 200,000 74,007 10 10 7 •Ian., '81. 33 »5 100 nth Ward'.... Kxciiaoge ao 200,010 86.690 10 10 10 Feb.. •81. 6 100 110 Fifth Farragut 50 200,000 133.176 15 15 15 Ian., '81. e 120- Fifth Avenue*. Firemen's 17 204,000 05,248 10; mi 7 Jan., •Si, 8« 85 FJrat Firemen's Tr .. 10 150,000 64,071 11 11 10 Jan,, 81. 5 105 Fourth Franklln&Knnp 100 200,000 148,219 7 11 Jan., •81. B 112 120 FOltOQ Qermau-Amer, 100 1.000,000 1,112,429 lb" 10 10 Jan., •HI. fl 175 90 OalUtin... Qermanla, .... 60 1,000.000 842,087 23 14 12 Jan., •81. 6 156 160 German Am.' Globe SO 200,000 129,060 10 10 10 Jan.. •81. S 110 Herman Kxeh.* Greenwich^.... •25 200,000 336,192 30 30 SO Jan., •81. 71, •,i»0 810 Qermama* Guardian 100 200,000 22,761 7 7 6<,i Jan.. '81. 3 85 15 133.261 Ja>., '81. 149 150 Greenwich* . . Hamilton 150.000 17^ 12W 12W 7H Hanover Hanover. 50 1.000,000 830.8-27 10^ 20 10 Jan., •81. 6 1^5 160 lmp.& Traders' Hoffman., 50 200,000 43,118 10 10 10 Jan., '81. S 80 90 trrinx Home.... 100 3,000,000 1X39.24S 10 10 10 Jan., •81. 5 157 161 Island City"... Hop3 25 ISO.OOO 2,'.i44 10 3« N'ne Ian., •79. 3>, 70 Leather Mannf. Howard.. 60 148,80b 10 5 10 Jan., •81. B 112 600,000 1%' Maahattan* ... lio^ortera'A T.. 60 200.000 76.7;S 10 10 10 Jan., •81. S 95 •81. 70 Marine Irving..., 100 200,000 18,166 10 »ii 7 Jan . 5 Market Jefferson 80 200,010 303,380 10 10 10 Mar., •81. 5 143 Mechanics' Kings Co.(Bkn) 20 150,000 207,372 iO 10 30 'an.. •81.10 lOJ 310 Meoh. Assoc'n. Knickerbock 40 280,000 2,297 6 5 N'ne Ian., "79. S 57 05 Mech'lcs A Tr. Lafayette(Bkn) 50 150,000 67.030 10 14 10 Jan., '81. 5 108 13 Morcanllle Lamar, 100 200,000 «7,857 10 10 10 Ja'i., '81. 5 93 100 MercbHat'>'. .. Lenox, 85 150,000 7,Sfll 10 10 9 Ja'y, '80. i 75 Merchants' Ex Longl8l,(Bknjt 50 300,000 163,082 IK 13 10 Jn.. 81. 5 i'u 120 Metropolis'. Lorlllard 25 800,000 10,6e.( 10 6 8 July. •80. 4 60 70 19^2.613 •81. MetropolUfln . Manur.& Build. 100 200,000 12 12 12 Jan., B 137 14S Murray Hill*. Manhattan 100 200,000 130,551 10 10 10 Jan. •81. 5 105 110 Haamu" Mech.&Trad'rs 25 •200,000 235,204 20 eo 12 Ian., •81. 7 183 170 New Yor^ . ... Mech'iC8'(Bkn) 50 150,000 169,191 iO— 20 14 Jan., •81. 7 I'W 170 ». Y.Coraty. Mercantile.. 50 800.000 30.160 10 10 10 Jan., •81. 4 83 90 S.Y. iixcll. 146,374 18 13 Jan., •81. !» N. Merchants' , 50 200,000 10 5 125 Ntaih.. Montauk (Bkn) 60 200,000 71,298 - 10 10 Jan., •81. 5 IVi 118 No. America'. Nassau (Bklyn) 50 200,000 149,332 20 14 Jan., 81, 7 150 JSorth Klver*. National 371 200,000 121,f46 10 10 Jan., •81. 5 no Oriental- N.Y.Eqnltaljle 35 210,000 322,820 15 10 .Ian., '81 6 150 Padflc ... .. New York Fire 100 200,000 98,880 12 10 Feb., •81. 4 110 Park 1,1100 N'ne N. Y. & Bostoti 100 200,000 5" N'ne 85 People's* New York City 100 800,000' 17,122 N'ne 3!^ Jan'.*, ^1. 3'4 70 80 Fhenlx Niagara 50 500,000 618,843 11 12 13 Ja.., •81. 7 18> 10 •80. Produce* North PJver... 25 350,000 100,480 8 8 Oct . 4 IVi lis Bepobllc Pacltlc 25 200,000 438,674 30 20 20 Jan., •81.10 230 8t. Nicholas... Park 100 200 000 lu9,091 12 12 13 Jan., •81. a 113 iik) Berenth •vard Peter Cooper.. 20 150,000 203,868 20 iO 18 Jan.. •81.1'i 193 Second People's 60 200,000 103,691 12 12 11 Jin., •81. 5 no iie Shoe & Leather Phenix 60 1 000,000 318,454 15 10 ;o Jan., •81. 5 135 Blxth Keller 50 200,000 38,0;8 10 10 10 Jan., •81. 5 88 96 Bute '81. of N. Y. Republic t 100 300,000 36.434 6 3" 7 lao., Sii 70 T»lrd Kutgers' 25 200,000 166,6-8 iO 20 20 Jan., •81. 7 Tradesmen's. Standard 50 200,000 175,141 6-23 »-;s 12-46 tan., •81.6-23 125 nnion Star 100 500,000 10-1,803 12H; 12 10 Jan., •81. B 114 Dalt«d Etatei. Sterling !00 200,000 24.47) 10 8« 7 An;., •80. a^ 70 side-. -• -^115 West . July, Stuy vesant 25 200,000 l.S8,682 14 10 10 Jan., •81. B Tradesmen's.... 25 300,000 83.097 10 10 10 Jan., '81. S 105 tio • The figures In this column are of date Mar. II, 1881 for the National banks Dnlted states. 25 250,000 2-27.2«5 12 11 to J-n., •81. B 133 and of date 1 , 10 •81, December 1 188J. for the State banks. Westchester... 10 sso,noo 150,9a8 10 10 Feb., 8 110 449,571 20 20 30 Jan., 31.10 205 Caa and City Railroad Stock* and Bonds. Wllllamsb'K C 50 250,000 TGas Qnotations oy ueorge H. Prentiss, Broker, 19 Broad street.] • Over all liabilities, Incl'Jding re-loa-jrance, capital and scrip, t Surpiue lucludOB scrip, Gab Coupanixs, Date. Par. Amount. Period, Bid. "25 Olty Secarltlea. Brooklyn Oa« Light Co 2,000,000 Var. Nov., 113 OlIlzens'Gas 115 Co (Bklyn) .. 20 1,200,000 Var. Aug., 45 60 do bonds i.eoo ttQnotatlons by OAnnu. A. Mokas, Broker, 37 Plue Street.] „ 8 1 5,000 i.iiJ. 1»»S !05 108 Harlem 50 1,850,000 iT.diA. Feb. 05 70 ^rsey City & Hoboken 20 750,000 I.& J. Ian., 145 160 Manhattan 50 4,000,000 I.& J. •Ian., 178 180 ' Hetropolltan 100 i,500,000 M.&S, Feb., 1J5 188 Bonds do certiQcates.... Vt. 1.000,000 M.&S. Feb., xlOO 103 Months Payable. due Bid. Ask Mutual, N. Y 100 5,000,000 Qnar. Jai., 70 71 _ do bonds 1,000 1,000,000 ff.* A. 1883 10) 101 Ar««/) Yort: HaMBU. Brooklyn 25 1,000,000 Var Dec. 50 65 Water stock 18n-«S. 5 Feb., May Aug.&Nov. 1B80 100 101 do .1815-51. do do 1800 106 _ scrip Va . 700,000 VI. &N. ^ov., 90 85 Croton water Block. 5 107 KewYork 100 4,000.000 M.&N, Nov., 93 08 do do ..13Si-«0. do do 188:i-lS90 104 109 People'n Aqueduct IS65. do do 1884-1911 106 (Brooklyn) 10 1,000,000 ,(. t J. Inn., 25 1:0 Croton stock. 6 130 Bondi 1,000 »7.',000 SI AN. 1897 10 104 do pipes and mains... 7 May & November. 18W-19»0 112 tap Bonds Var. 125,000 Var. 1«00 70 8J lo reservoir bonds 6 Feb., May, Aug.&Nov, 1907-1911 118 128 Ceotrai wi ^ew York 60 4«»,000 ?.« A. July, 55 60 Central Paik bonds. .1853-5". 5 do (to l.-«8 108 109 WUllamsbor? 60 1,000,000 Quar. Ian.. «0 6> do ao ..1853-«s 8 do de 18115 116 lie do bonds 1,000 l,0(.)0,00ii A.* O. 1900 101 101 Dock bonds 1870. 7 May & November. 1901 135 126 Metropolitan. 1^^5. 1898 115 lie Brooklyn. . . 100 1,000,000 -laa., 65 6) do 6 Moaicipal 100 3,010,000 Jan., 158 160 Market stock 186S-68. 7 May ft Noye'o^er. 18&4-189: 127 198 do IS69 do 188B lOT IDS bonis . 750,000 1888 105 110 Improvement stock.... 6 do Fulton Mniiclpal 00 IStSj do do 1800 115 116 "iob 1150,1.0001 ). ) 55 do 7 Consolidated bonds var. »8 do do 1901 123 123 ttjnotatlons by H. L. Gha.nt, Broker, 145 Broidway.] Street imp. stock var do do 1888 107 108 do do var do do 1882 102 IPS Jannary July, 1896 US 110 Bleecker New Consolidated & St. A Fult. Perry—St'k 100 900,000 J. &.T. H .,an*.'M 9«« 28 Weiti-hester County do do I8B4 122 123 lat mortgage 1,000 894,000 R.4 J. 7 .riy.1900 J05 110 Consolidate 1 Qna'^?rly. 19-M 109 tl3 Broadway Seventh '=1 & Av.—St'k 100 2,100,000 2 Jan.. 122 126,1^ May tL November. 18S4 102 lOS 1st mortgage Asses-meot 1,000 1,600,000 I.&D. 7 .July. 'SJIOSU 105)i Srooklyn City— Stock 2,000,000 Q-F. 5 Feb., 'Siliiio 170 let mortgage 1,000 300,000 M.&N. 7 Nov., '8) Broadway 102 110 (Brooklyn)—Stock . 100 200,000 Q-.T. » Jan., '8; 140 160 [QuetaaouB by N. T. Buss, Jr., Broker, 1 New Bt.] Brooklyn i Hunter's Pt.—St'k 100 400,000 \.*o. 2 Oct,, '80j 9'i 100 let mortgage bonds 1,000 soo.ooo I.ft J 7 1888 1 102!.^ 105 BUBhwlck Av.(H'klyn)—Stock. 100 500,000 ,J. '80 1)0 &J. 2«i Nov., 100 firooJtiyn- Local lin')r'cra't Central I'k N. & B. kIv.-Stock 100 "81 1,800,000 Q-I. 2 Jan.. lOb HI Jaiuary ft July, 1880-1888 IO2V4 108 Consolidated mort. bonds City bonds. 1,000 l,-i00,000 K& D. 7 D^c.lHoa 110 115 do do lo 18oS-lK!l 107 118 Christopher & Tenth St.—Stock 100 8.10,01)0 r.* A 2K Feb.. '81, 00 100 ;915-19-i4ll;i7 liO Bonds P^rkbonds do do 1,000 •250,008 I.& J. 7 I'iOS ;ioo 110 loan bonds do do l«0O-I9-'4 137 140 Dry Dock K.B.A BaU'ry—Stock -81 Water 100 1,200.00(1 (J-F. » Feb., 185 BrldRebonda do do 1904 191>! 137 140 l»t mortgage, . '9:< — consolidated 500&C 900,000 I.&D. 7 .lune, 112 U8 do do 188B-1902 107 123 Bighth Avenue— Stock '81 Water loan 100 1,000,00(1 ci-J. 3 Jan., 175 Donas do do lfel-1800 102 116 l«t mortgage 1,000 7 IHD., '84 City •.J03,00< J.&J. 100 110 May ft November, 1880-18S3 IU6 111 *W St. &, (irand St. Ferry— '80 Kings Co. bonds St'k 100 748,001 »1.&N. H Nov., 170 180 do do ao do 1880-1>«3 114 116 Istmort^^age 1,000 230,001 V.&O. 7 Apr., '93 110 115 127 Central Cross Park bonds January « July. 1924 ^34 Town—Stock . 100 (100,001 40 181 125 Ist Bridge do do 1907-lBlO murttfuge 1,000 200,001 .M.&N. 7 Soy.1901 101 no Boost. West St.* *AllBrooklyn bonds flat. Pav.F'y—st'k 100 250,000 «0 ... Ist 1 mortgage .1 '94 600 500,000 J . *; 7 Inly. -.^4 106 8eoond Avenue—Stock 100 1,199,500 J.&J. Jan., 81 9d mortgage 2H »;v,i 101 1,000 150,00(1 \.SO. 7 Apr.'bS ll»l 41 Montgomery St., Jer»ey Clty.^ Coosol. 02K [Quotations by C. ZABRtssii, convertible . . 1.000 1,050,000 M.&N. 7 net., '80 104 Bxtenslon ion OO&c 200,000 VI. 48. 7 S!ept.,'8:-t 101 Btxth ... Avenue—Stock 100 750,000 \I.*S, 6 Feb., '81 irt.% iBt mortgage ''?92 600,000 I.* J. 7 July. '110 110 115 JerMV City— ITlIrd Avenue— Stock... 1C8 1C8 100 2,000,000 Q-F. 5 Feb ,'81 IHO Watei loan , long „.... January ft July. me Ist mortgage 112 lis 1,000 W,000,000 J.*J. 7 July, "90 KW 112 <\o 186S-71 Jannary ft Juiy. 1899-1902 Twenty-third 18V'.-t>4 1C« 110 Street—Stock. . 100 000,000 V.tA. 4 IFeb, '51140 160 Improvement bonds J. ft J. and J ft D. lalmoimortgage. 1,000 2ao,ooi> «.* N 7 iMav. '.« 105 112 Beraen bonds lB68-««. Janatiry and Jnly. 1900 107 108 frhi,ia coiumn shows last dlvldena on stoclcs, but the date of matoray of bonds. 5 : Hahcb 20, 1881.] THE CHRONICLE. S33 vmovcnom t&om ikooxb. Itiwjestmjents Use of foreign care and engines $474,417 $283.^14 Rent of Cleveland .V Mahoning Val. Ry. lines 274,272 318,088 Rent of Sharon Railway 28,015 86>684 CORPORATION FINANCES. Rcntoffiharon lirancb 3,000 STATE, CITJ AND Rent of Westerman Railroad 's.OOO Rent of Dayton yard-track, etc 7z5 726 The l!fVE8TOK8' SoppLEMBNT Contains a complete exhibit 0/ the Rontof docks, lots, etc 7,797 7,SB9 Pumded Debt of Stales and Gities and of the Stocks and Bonds (Jeneral expenses 32,852 7.95d General interest is published on the and exchange 120,597 of Railroads and other Oimpanies. It last Taxes... April, 98,58B 52.916 Saturday of every otiur month—tiz., February, Jane, Prontandloss 46 14,127 August, October and December, aad is furnished unthout extra Total deductions from Income charge to all regular subscribers of the Chrosiclb, Single copies $1,037,681 $680,640 copy. art sold at |2 per Net Income from operation * $139,254 $1,003,447 ANNUAI. R£FOiiTS. * Deficiency. INCOME ACCOUNT 1880. York Pennsylvania & Ohio. New Total income in 1880 from all sources $1,718,876 (Mir the year ending December 31, 1880.) Out of which were paid fixed charges as follows: Rental of (wiiitpment $283,614 first report of this reorganized company (formerly the The Rental of all le,-ved lines 356,277 AMantic & Great Western) supplies the following information : General expenses, taxes, &c 00,870 The reorganization wa.s perfected under the present name Total payments (after sale in foreclosure), when the two companies of Ohio and 700,772 consolidated into one company, under Pennsylvania became Net Income for the year 1880 $1,017,504 the name of the New York Pennsylvania & Ohio Railroad Co., Deduct and that consolidation was perfected on the 24th day of March, Interest on prior lien bonds, due and occmod $400,000 Payments on account improvements and additions the consolidated company was duly 96,344 1880, and on that day Interest on first nioitgagfl bunds, $862,500, (one- organized by the election of a board of directors. half paid in cash) due January 1, 1881 431,250 CLBVEIASD A MAHONINO VALLEY KAILWA7. Total dednotlone 927,594 On May 4, 1880, this company entered into a lease with the CSeveland & Mahoning Valley Railway Company, by which the Surplus for the year $89,900 latter company leasea to it the railroad known as the Liberty The main line was run with its gauge of 6 feet np to Juno & Vienna Railroad, and the railroad known as the Niles & 221, when a change was made, bringing it^to the standard Nsw Lisbon Railway, for the term of 83 years and 3 months gauge of 4 feet 8)^ inches. from the first day of July, 1880, that being the term for which Xo. of Tons the outstanding lease of the Cleveland & Mahoning Railroad tons. one mile. modified terms Freight tonnage in 1879 3,549.095 474,863,092 was made. Said lease by its provisions the of Freight tonnage in 18-iO 4,125,979 474,279.731 said lease of the Cleveland & Mahoning Railroad, and provided Increase in 1880 of 576,884 tons, or 16-25 per cent. Decrease in 1880 for a gross rental to be paid for the three roads in place of the of 583,361 tons one mile, or 00 12 per cent. " rental provided for the Cleveland & Mahoning Railroad—the President J. H. Devereux stat«8 that : Freight rates have rental fixed bein^ at the rate of $357,180 per annum for the been at a low standard, but have been signally maintained in period beginning July 1, 1880, and ending January 1. 1885, and evenness and uniformity, resulting in the gratifying increase of at the rate of $412,180 per annum for the period beginning the average gross rate. The development of traffic from the January 1, 1885, and ending October 1, 1962. The original general prosperity of the country has been most marked, and is lease was also modified in several other important particulars. quite apart from the advantages which were opened to the CAPrTAL STOCK A5D BONDED DEBT. road in reaching and accommodating business bv a common The capital stock and bonded debt authorized by this com- gauge with every connecting line. And throughout the fall and winter it has been impossible to comply with the increased pany are as follows : Oommon stock $35,000,000 demands for cars in respect of both through and local traflSc. Preforrod stock 10,000,000 The board, under the sanction of the reorganization trustees, has concluded arrangements for purchasing 2,700 new freight TotaJ $15,000,000 cars, to be delivered in the spring and early summer of 1881. lion bonds Prior $8,000,000 These cars are to be furnished under a ear trust, the plan of Wret mortgage tpondg 35.00(1,000 Beoond mortgage bonds 1 4.500,000 which amounts substantially to borrowing the money for a nilrd mortgage bond* 30,000,000 period of seven years, the principal covering the actual cost of the equipment, at a rate of 7 per cent per annum. The current Total $87,500,000 monthly payments due under the trust liquidate its debt received Of the above, advice has been of the issue of $8,000,- gradually, and stand against the loss which would follow from of first 000 of prior lien bonds and about $34,500,000 of mort- the hiring or use of foreign cars under mileage, and the certain bonds ; the other classes of bonds and the stock are in gage loss which would attend the road's inability to adequately process of issue the trustees in exchange for trustees' by provide for freight business. At the end of the seven years the certificates. cars will have been paid for and will belong to the company. LEKOTH OF MAIN LINE AND BBANCHBS. These cars are to be built in accordance with the standard spec- Ifain track, mies. ifications of the road, and under the company's inspection. The Mainline, Salamanca to Daj-ton 8t>7-n06 total length of main track is 558 miles, of which 369 miles are Franklin Branch, Jiincliou with main line to Oil City 33'780 laid with steel rails. In the company's shop.s, during the year, Silver Creek Bmncli. from Jiiuctioii with main line 1554 engines 1,497 cars of all classes nave Olavelnnd ib Mahoiilog Railroad, Cleveland to connection witb 48 locomotive and been Wesiermnn Kit. near PoMnsylvauia and Olilo Stato Line 80810 changed from the gauge of 6 feet to the standard gauge of 4 2 Balance to credit of Ineome $898,426 $1,690,088 laying of 2,000 tons of steel rails ; the construction and comple- . 334 THE CHRONICLE. I Vol. XXXIl, double track from Portland to Woodford's, and also about equal proportions, thus securing the success of the enter- tion of a prise at once. The New York stock was pla» ed by Messrs. Clark, Dodge Waterville Junction; the extensive improve- from Waterville to & Co. and Clark, Post &, Martin. The success of this negotiation insures msnts at Maranacook, and new stations at South Gardiner and the prompt oinniiletion of the Shenandoah Valley Railroad to an inter- section with the Norfolk & Western, and the gap of ninety-three miles other points, as well as extensive and valuable additions to our will be l)uilt during the cm-rent year. As soon ns the roads * * * " condition of the property of are united rolling stock." The they will be run in haniiony with each other. This will bring the Nor- ago, but we the company is much better now than it was a year folk &. Western Railroad within 250 miles of New York City, the North- have thought it necessary to arrange for a considerable addi- em terminus being Hagerstowu, at which point it will connect with the Cumberland Valley, one of the branch roads of the Pennsylvania to our passenger and freight equipment during the tion Railroad system, and over the latter syst«m it will reach Philadelphia present season, which will be in readiness for use early in the and New York. This line will make one of the most important lines to approaching summer. The necessity is urgent that our main line the Southwest, and in fact to the West, in conjunction with the I.K)ui8- ville The parties interestetl in Louisville should be laid with steel rails as soon as may be found practi- «& Nashville system. the Ac Nashville system are largely interested in tlie Norfolk & Western enter- rails delivery cable, and we have purchased 3,000 tons steel for piise, and three or four of the directors of the Louisville & Nashville spring." will be directors in the new road. The proposed increased terminal this , , , ^, Comparative statistics for four years, compiled for the facilities at Norfolk will, it is believed, add materially to the prosperity of that city, as well as of the read, and the harmony of inteicsts with Ohkonicle, are as follows : the Louisville & Nashville system will practically constitute under one ROAD OWT«ED AND OPERATED. management new trunk lines between St. l..ouis and New York, and between New York and New Orleans " 1877. 1878. 1878. 1880. Miles owned 237 308 308 30.5 Baltimore & Ohio—Delaware Western.— In Baltimore, Mile* leased and controlled 118 47 47 46 March 23, it was announced officially that the Delaware Western Total operated. 355 355 355 351 Road was purchased, on behalf of the Baltimore & Ohio Bail- road Company, the day after a controlling interest in the Phila- OPERATIONS AND FISCAL RBSUI.T8. OperoHons- delphia Wilmington & Baltimore Road was bought by the ^^^^ ^^^^ ^^.^ ^^^^ Pennsylvania Railroad Company. The sale was an absolute 714,974 Passengers carried 611,345 565,006 553,364 one, and the day .on which the sale was made a controlling PassenKcnnileage 22,740,125 20,449,197 20,441,29126,097,770 stock was transferred to that company. It ia Rate per pass, per mile... 3 02 cts. 3 05 cts. 2-98 els. 2-80 cts. interest in the FreiKht (tons) moved 381,830 329,811 396,107 451,533 also announced officially that the Baltimore & Ohio Company Freight (tons) mileage.... 25,028, 148 21,193,655 27,6.'>2,047 32,437,425 now has engineers in the field, and that the new line between Kate per tou per mile 333 cts. 3-32 cts. 2-87 cts. 2-66 cts. Baltimore and Philadelphia vfrill be built as rapidly as men and Sami7ins— $ $ $ $ PassenKer 688,056 623,718 610,425 730,568 money can build it. " 833,.541 702,868 793,699 890,763 PreiKUt Baltimore & Ohio—PennsylTania.—A traffic arrangement Mali; express, Ac 126,578 108,302 104,253 98,722 has been made between the Baltimore & Ohio and Pennsylvania Total gross earnings.. 1,648,175 1,434,688 1,508,377 1,720,053 railroad companies, which is temporary only, and may be ter- Operating Expenses— minated on notice by either company. The traffic of the Balti- Maiutenaiioe ot way, &c .. 274,163 247,703 255,601 318,646 will division Maiutouiince of cqiiipm't. 150,217 104,238 109,547 1.'M.784 more & Ohio Railroad be run over the New York Transportation expenses.. 531,906 470,969 486,087 580,917 of the Pennsylvania road until the completion of the new line Taxes, insurance, etc 20,457 13,.576 11,702 11,849 from Baltimore to Philadelphia which the Baltimore & Ohio Miscellaneous 26,795 4,219 7.042 3,952 Company intends to build. Total 1,003,538 840,705 869,979 1,067.148 Boston Concord & Montreal. —At a meeting of the stock- Net earnings 644,637 593,983 638,398 652,905 holders the directors were authorized to issue the bonds of the Per eent of oper. expenses 60-88 58'60 57-67 62-04 corporation in accordance with the act of -the Legislature, INCOME ACCOUNT. passed in July, 1871, in such sums and at such interest as 1877. 1878. 1879. 1880. they deemed best for the corporation, and to secure the same Receipts— $ $ $ $ by mortgage on the road. Net earnings 644,637 593,983 638,398 652,905 Other receipts 6,062 5,974 10,159 6,660 Central of Georgia—Georgia R. R. & Banking.—The Cen- tral Railroad proposes to lease the Georgia Railroad and Total income 650,699 599,957 648,557 659,565 branches for ninety-nine years, guaranteeing 8 per cent per JHtbursements— $ annum to the stockholders. It is rumored that the Louisville 54,000 54,000 54,000 54,000 Rentalspald and Danville combination Interest on bonds 523,410 569,381 569,179 569,0.59 & Nashville Company Richmond & Other Interest, etc 26.109 3,'845 3,726 1,013 have made similar propositions. A director of the Georgia Railroad states that a lease of that line cannot be consummated disbursements . . 603,519 627,226 626,905 624.072 Total until after the May meeting of the stockholders, and not even 8ur.47,180 def.27,269 sur.21,652 8Ur.35,493 Balance then unless the charter of the company is amended so as to GENERAL BALANCE AT CLOSE OF EACH FISCAL TEAK. allow the Central to lease other than connecting lines, whioh 1877. 1878. 1879. 1880. the Central is prohibited from doing under the present charter. Astels— S Railroad, buildings, &c. .10,,006,432 10,019,932 10,018,152 10, 016,642 Cincinnati Sandusky & Cleveland.—The meeting of stock- Androscoggin RR. lease.. 768,333 768,333 768,333 768, H33 hoWers is to be held at Sandusky April 6. A circular ha* Equipment 1 ,658,541 1,658,541 1,658,541 .658.541 been sent to stockholders which contains the following : Stocks andbonds owned.. 20,195 20,195 20,195 20.000 " Bills & Mcc' Its recelva'ble 80,227 91,981 94,262 76,657 The proposed lease, besides protecting in every possible way the Materials, fuel, &c 158,786 151,353 106,.^47 172,037 rights and interests of this company, provides that the lessees (the Cash on band 112,661 37,427 20,821 7,981 Indianapolis Bloomington & Western Railroad Company) shall build Miscellaneous items 71,071 3,804 and have completed by January 1, 1882, a new line of some 140 miles of railroad connecting our road at Springfield with theirs at Indianap- Totfll 12,876,246 12,751,566 12,686,851 12,720,191 olis, and stipulating th.at all business from their roads destined to points Liabilities— $ $ $ $ north and northeast of Springfield shall be sent over our Cincinnati Stock, common 3,620,100 3,620,100 3,620,100 3.620,100 Sandusky & Cleveland road. It further stipulates for a guaranteed Bonds (see Supplement).. 8,706,011 8,708,942 8,704.219 8,703,476 minimum rental, more than sufflcient to meet all the interest on our All other dues* accounts. 71,005 53,459 34,2-23 35,184 fixed indebtedness and the expense of luaintainiug our organization. It Profit audloss 479,130 369,065 328,309 361,431 also provides, in addition thereto, for such a percentage of the gross earnings and receipts as will—from the enlarged business to be brought Total 12,876,246 12,751,566 12,686,851 12,720,191 to and carried over our road—in the estimatiou of your committee, make our common stock a dividend-paj-ing one as soon as the new piece ot railroad provided lor is built and in operation." OENERAIi INVESTMENT N£;WS Fitchburg.—The directors of the Fitchburg Railroad Com- pany have voted to issue 4,500 new shares of stock, to be appor- Anthracite Coal Production.—The official statement of the tioned to stockholders of record March 21, at par, in the ratio anthracite coal tonnage for the month of February and for the of 1 to 10; subscriptions to be made on or before May 10, and to two months ending February 28 was as follows : be payable on June 20, 1881,when the certificates will be issued. -Fehruary.- Two Montlis.- filed United 1880. 1881 1880. 1881. Increase Florida Central.—A motion has been in the Phila. & Read.. 2!I9,854 436,415 697,146 828,573 131,427 States Circuit Court of Florida on behalf of Henry S. Haines Lehigli Valley. 239,559 421,819 559,743 752,576 192.8:i2 and others, praying for a re-sale of the Florida Central road, Central of N.J. 152,747 323,209 432,524 560,023 127,498 was sold in connection with the Jacksonville Pensacola & Del. Lack. & W. 231.876 360,125 512,303 629,452 117,147 which Delaw. & Hud . 194,254 285,606 460.476 472,680 12,-JOl Mobile, Sept. 25, 1879, and offering an advance of f 95,00() on Pennsylvania . 90,569 141,838 186.734 297.580 110,846 the former bid. A motion to confirm the sale has been with- Pennsylv'a Coal 67,942 106,153 154,473 176.988 22,515 drawn to await the result of this application. N. Y. L. E. 335 Mabch 26, 1881.] THE CHRONICLE. line, 31 miles, and from Downs to Ball City, Kansas, 24 miles; a Indiana Bloomin^ton & Wostern—A press dispatch from consolidation total of 230 miles, and the Atchison Jewell County & Western Indianapoli*. Ind., March 24, nays: "Articlim of the Indiana IJlooin- Railroad, from Jamestown to Burr Oak, Kansas, 34 miles; mak- of the Ohio Indiana cSi Pacific Kailroadwith the latter, were ing a grand total of 364 miles.tJThe capital stock in $1 ,000,000, ini^ton & Western Railway, under the name of capital stock of which the Union Pacific holds more than a majority. The filed wifh the Secretary of State this morning. The for the redemption company owes also $1,600,000 United States subsidy bonds. The is $10,000,000, of which $.5,000,000 is issued Bloomington directors are Sidney Dillon, Jay Gould, James M. Ham, Raoaell of the existing debt, $4,500,000. of the Indiana & &c. Western, and for necessary improvements; $3,000,000, or so much Sage, MlfWOtTRI KANCAS * TEXAS. thereof as may be necessary, is set aside for the construction General consolidated mortgage gold 6 per cent bonds, and equipment of the Eastern exten.sion, and the remaining dne of the consoli- December 1, 1920, $20,097,000. These bonds are secured by a ja.OOO.OOO is aathorized for the general purposes mortgage upon the company's existing 786 miles of railway, dated road, and may be issued as required. The new bonds subject to certain existing liens, and are to be a first lien upon will bear 6 per cent interest." , , ^ ^ . , , j newly-acquired or constructed road, at a rate not exceeding —The Secretary stated, in a circular, that the stockholders $20,000 per mile. The total authorized amount is $45,000,001^ were to receive two shares of the new company's stock for each finished The first $18,217,000 bcjnds issued are to be applied to retiring one of the old. It is intended to have the new road by and expenses on the following outstanding bonds : Union Pacific liailway Co., Oct. 1, iu time for the fall business. Earnings were: Gross Southern Branch bonds, $2,296,000 ; Tebo & Neosho liailroad the I. B. & W. Railway for the calendar year 1880 bonds, $349,000 ; Hannibal & Central Missouri Bail- eaniings, $1,196,416; operating expenses, taxes, &c, $669,0.")3; Company bonds, ; Missouri Kan.sas & Texas first net earnings, $5-^7,363; interest charges, $192,000; per cent road Company $800,000 issues February 1, 1871, June on income bonds, $90,000; net surplus, $245,363, or 9% per consolidated bonds, 1, 1872, 1, 1872, and June 1, 1873, $14,772,000; total, cent on the $2,500,000 of capital stock. November $18,217,000. For the purpose of retiring the second mortgage Ohio.—In Knoxville, Tenn., advertisements for Kiioxville & income bonds, together wirh the coupons and scrip certificates for completion of the railroad to connect Knoxville bids the representing interest accrued on said bonds, on terms to be here- with the Louisville & Nashville road are published ; also adver- after fixed, $10,000,000 of the general issue are set apart. To soliciting bids for connecting the East Tennessee tisements provide for new equipment and new additions to the property, Virginia Georgia Road with the North Carolina system. & $2,000,000 are retained, and the remainder of the authorized stock of the Milwaukee Milwaukee & Northern.—The new amount ($14,783,000) is to be applied to extensions and branches. Northern is now being issued by the Merchants' Exchange & LOUISVILLE NEW ALBANY & CHICAGO RAILWAY COMPANY. National Bank. This road has a favorable lease with the Wis- First mortgage 6 per cent bosds, due in 1910, to the amount of consin Central, which it can terminate on six months' notice. $3,000,000, secured on the company's 324 miles of road and other law Nashua & Lowell—Manchester & Kecne.—At a term of property. The company's capital stock is $3,000,000. Court of New Hampshire at Concord on Friday, the Supreme STERLING IRON » RAILWAY COMPANY. in the case of the Manchester & Keene Railroad Company, Hall Stock, $2,300,000, in $50 shares. Series B mortgage bonds, and Frye, vs. the Nashua & Lowell Railroad, the Court held that with income coupons up to 7 per cent, due in 1894, $418,000. the act of Judge Doe in appointing a Receiver was legal ; that Unsecured bonds with income coupons up to 7 per cent, due in the disbursements of the Receiver to complete the road be 1896, $495,575. The property of the company consists of about declared to be a first lien upon the road to the amount of about 25,000 acres of iron land, situated in Orange and Rockland $30,000 ; that the lease of the Manchester & Keene Road to the counties. New York; blast furnaces, having a productive annual Nashua & Lowell Road, from Greenfield to Hancock, be null capacity of 15,000 tons of pig iron; dwelling houses, stores, and void as against the bondholders; that the Nashua & Lowell etc., and 8/^ miles of railroad. Its personal property is valued Bailroad surrender to the plaintiffs the $80,000 worth of bonds at $220,102. Its total funded debt is $1,445,249. which they claim to hold under a pledge from Dawe & Bon- VERMONT MARBLE COMPANY. nellie ; that the removal of the trustees, White, Dearborn and Stock, in $100 shares. First mortgage 5 per cent Lane, was proper and legal ; that the trustees appointed bv $3,000,000, Judge Doe—Weston, Ramsdell and Kimball—are now rightfully gold sinking fund bonds, due in 1910, or at 105 and interest prior to that date, at the option of the company. The com- in possession of the road ; that at the May term of the Court York, its busi- the Court shall make up a true list of the bondholders' names pany is organized under the laws of New and and authorize a meeting to elect trustees. Boston Advertiser. ness consists in the quarrying of marble at West Rutland and at Sutherland Falls, Vt., and in the sawing and selling of Nashville Chattanooga & St. Loul§.—The Nashville Ameri- marble at various mills in Vermont and New York. The com- can .says that a few days ago the directors authorized the pany's gross sales of marble in 1880 were $654,049, at a cost of building of three hundred box cars, by contract; one hundred production of $499,977. It owns 800 acres of land, comprising ore cars, to be constructed at the Nashville shops, and eight seven quarries, several mills, etc. new ten-wheel, forty-five-ton freight engines; costing in all about $200,000. They also decided to place the Northwestern Northern Pacific.—A great decline has naturally followed division in first-cla-ss condition before the close of the present the late extraordinary speculative rise in the stocks of this year. Steel rails will be laid between Nashville and Waverly. company. In the last annual report the common stock pub- of the track will 'I'o The expense renewing be about $200,000. lished in the balance sheet as actually outstanding was $49,000,- cover the improvements contemplated on the Chattanooga & 000, and no intimation was given that all this stock had not Northwestern division, the the negotiation of board authorized been issued. It was only the directors and other parties $1,000,000 second mortgage bonds. intimately connected with the company who were informed that New York Stock Exchange—New Securities.—The follow- some $18,000,000 of this stock remained where it might at ing additional securities have been admitted to the Board List: any time be thrown on the market by a resolution of the direc- NEW YORK AMD HEW ENGLAND RAILROAD COMPANY. tors. The readers of the Chronicle have been informed that Capital stock, $20,000,000. First mortgage 7 per cent bonds, Mr. Henry Villard, President of the Oregon Railway & Naviga- maturing January 1, 1905, $6,000,000. First mortgage bonds, tion Company, recently went into the market and purchased, on which the rate of interest has been reduced from 7 to 6 per (with a fund of eight or ten million dollars supplied for the pur- cent by agreement with the purchaser to the amount of $2,000,- pose) an amount of the common and the preferred stock said to be 000. There remain also about $2,000,000 bonds unsold, not to about $25,000,000 par value. This immense purchase was made be issued at a higher rate than 6 per cent. of the stock of a railroad yet to be—a railroad which, according The company's main line extends from Boston to Waterbury, to the most favorable estimates of its friends, is not to be com- Conn., about 150 miles, and from Providence, R. I., to Willi- pleted till 1884, and which will have an interest charce on mantic. Conn., about 58^ miles; with several branches, the bonds of about $3,600,000 per year, and a charge for dividends total finished road belonging to the company is 264 miles. In on preferred stock (say $40,000,000 then outstanding) of $3,200,- addition, the cDmpany owns 65 miles of newly-finished road, 000 per year, making a total estimated charge of $6,800,000 per and operates under lease the Norwich & Worcester, the Rhode year as soon as the road is opened, which must be paid before Island & Massachusetts, the Rockville and the Connecticut Cen- the common stock can obtain anything. The purchases, tral railroads, comprising 118 miles. however, forced the common stock up to 51 and the preferred CENTRAL BRANCH UNION PACIFIC RAILROAD COMPANY. above 77, and the holders of "proprietary rights" very reasonably Atchison & Pike's Peak (Central Branch Union Pacific) first became so eager to get their stock that they, could no longer be mortgage 6 per cent bonds, due in 1895, $1,600,000. Funded restrained. coupon 4 per cent bonds, due 1895, secured by a pledge with the The directors decided to distribute the residue of the common trustees of the unpaid coupons of the flrst mortgage bonds to stock, amounting to nearly 180,000 shares, which has been held Nov. 1, 1878, amounting to .$638,000. These two classes of in the company's treasury since the reorganization. in 1876. bonds constitute a first mortgage on the road of $22,388 per This issue completes the total amount of common stock author- mile. Guaranteed Atchison Colorado & Pacific first mortgage ized by the plan of reorganization and by the act of incorpora- 6 per cent bonds, due in 1905, $3,672,000. Guaranteed Atchi- tion—$49,000,000. The Northern Pacific Railroad was sold son Jewell County & Western R.R. flrst mortgage 6 per cent unaer foreclosure proceedings in 1875 to a purchasing committee bonds, due in 1905, $542,000. These two last-named mortgages of the bondholders, who organized the present company Sept. are guaranteed by the Central Branch Company, and provide 29, 1875. Under the plan of reorganization the capital stock of for a further issue of bonds at the rate of $1 6,UU0 per mile upon the company was fixed at the same amount as was authorized any further extensions. The Central Branch Union Pacific Co. by the original charter. It was divided, however, into prt-ferred was originally organized as the Atchison & Pike's Peak Railroad and common stock, the preferred being fixed at $51,000,000 and Company. It was provided for as one of the branches in the the common at $49,000,000. The 8 per cent preferred stock acts incorporating the Union Pacific Railroad Company, and was created to retire the principal and interest of outstanding received lands and bonds from the Government for its entire bonds and to pay the floating debt. The preferred stock was distance from Atchison to Waterville, Kansas, 100 miles. It convertible at par into any lands belonging to the company east MS leased the Atchison Colorado & Pacific Railroad, from of the Missouri River in the State of Minnesota and in the Waterville to Washington, Kansas, 20 miles; from Greenleaf to Terirtory of Dakota. The holders of the common stock were Logan, 155 miles; from Buffalo, Kansas, to Nebraska State not entitled to vote on it until after July 1, 1878. The plan of , 33B THE (JHKONICLE. f^^oL. xxzn; reorganization provided that "certificates of this Btoek should Shares had been duly registered for three calendar months preceding to holders of, or to those now entitled to, certificates, be ifisued the day of the meeting 273,100 share for share; and the residue ratably to those originally The Judges received and counted as votee of stockholders duly entitled thereto or their assigns." At the time this reorganiza- registered as puch at the time of the election, votes upon 211,077 The separate count of the votes of sneh stockholders us had been vfas completed, the residue of the common stock held in the tion registered for three calendar months previous to the time of treasury was about ?26,0CO,C0O, which it was intended should election results in a total of such votes upon 208,287 issued as the road was completed and accepted in sections of be It appears from the official review that the 211,015 shares of twenty-five miles. Such issues have been made since the reor- stock registered at the time of the election were voted for ganization until the residue had been reduced below $18,000,000. Major Bond, President ; Samuel Bradford, Treasurer ; Edward Mr. Ashbel H. Barney, a director of the company, who was also L. Kinsley, Secretary ; and Messrs. George F. Tyler, Samuel R. the board in the Jay Cooke days, said: " There a member of Shipley, John 8. Newbold, Edward T. Steel, Charles Parrish the persons entitled to this stock was no good reason why and John Lowber Welsh, directors, being those selected by the it. 1 have always advocated the issue of the Bhould not receive opposition party, and sixty-two shares were cast for F. B. I have been a of the present board stock, although member Gowen. The 208,225 shares of three months' stock were also election. The stock belonged under the only since the last voted in favor of the McCalmont ticket, and a separate count to certain persons, and to no others. terms of reorganization was made and returned of the vote of those shares. The vote withholding stock when they There was no justice in their of 1,130 shares was rejected on the ground that later proxies rights not than 20 or while others oonld get for their more 25, than those presented were standing in the name of Mr. Gowen. issued stock 50." were getting for their about The Court heard the argument on the Master's report, bat Oregon Railway & Navigation Co.—This company had did not agree, and ordered on Friday a re-argument of the ?6,000,t]00 stock, and on October 20, 1880, the stockholders question of the legality of the election before Judges Hare, voted to issue $6,000,000 more. The first $3,000,000 of new Mitchell and Fell. Judge Hare informed counsel that the only stock was subscribed for, and the second $3,000,000 is now open questions involved are whether or not it was necessary that a to subscription of stockholders of record on March 21 who may majority of the stockholders should be present at the meeting, have subscribed for the first issue and paid for their subscrip- and whether or not the election should be deferred to the succeed- tions in full on that day. Holders of the new stock receive a ing year. George M. Dallas, Master, presented a supplemen- scrip dividend of 10 per cent, to bear 8 per cent interest from tary report, saying that the number of shares of stock of the as November 1, 1881, payable out of surplus net earnings. The company registered such on Dec. 14, 1880, and remaining company is pushing forward the Columbia River line, from the registered in the same manner on March 14, 1881, was 468,705, 29,952 were preferred. city of Portland to the Dalles, about ninety miles ; the line of which —The report of the Philadelphia & Reading Railroad for from the Dalles to Walla Walla, 158 miles, being now com- t February shows gross receipts from railroad of Eleted. The company also proposes to complete in 1881 the $1,336,427, ne from Umatilla, on the Columbia, across the Blue Moun- against $1,085,161 in February, 1880 ; net receipts over oper- ating expenses $J31,321. against in 1880; increase, tains, to Baker City, about 160 miles ; and the line from Walla $897,888 Walla to Colfax, with branches to Dayton and Pataha, about $133,433. Total profit for fiscal year to date, Dec. 1 to Feb. 28, $1,550,654, a decrease of $179,043 compared with last year. 165 miles ; total, about 415 miles. The President, Mr. Henry Villard, says, in a circular to stockholders: The Coal & Iron Company in February had gross receipts of "An extraordinarily severe winter, and the consequent closing $803,625, against |53(),472 in February. 1880 ; net receipts of navigation on the Columbia by ice four several times since $100,080, against a deficit of $79,087 in February, 1880. Both December 1, interfered with our business so seriously as to con- companies for the three months, December to February, inclu- vince the board of directors that we should not again rely sive, show $1,726,628 net profits, against $1,469,453 in the cor- alone upon water communication with the upper Columbia. The responding time last year, an increase of $257,175. company's earnings upon its river division during December —The Reading Railroad gives notice that, pending the liti- gation on the subject, no forfeiture for non-payment of instaU- and January were only sufficient to meet operating expenses ; whereas, with uninterrupted communication, the net earnings ments on the deferred income bonds will be enforced, and the would have been at least $200,000. Indeed, the interest of the final payment on those bonds, due March 31, is extended to company and of the public absolutely requires the substitution April 30. of railroad for the present water transportation. The com- Pallman Palace Car Co.—A special meeting of the stock- pany's steamboats, released from their present services, will be holders of Pullman's Palace Car Company has been called for prontably employed elsewhere. Moreover, the success of the April 2 at Chicago, to act on the proposed increase of the capi- Northern Pacific" Railroad Company in obtaining the means to tal stock. The directors will ask for authority to increase ths complete its trans-continental line to a junction with our system capital stock by one-third, and for this new stock the stock- on the Columbia River, and the determination of the Union holders will be given the privilege of subscribing at par. The Pacific Railway Company to build a standard gauge road from purpose of the increase is to complete the improvements of its line to a connection with our .system at Baker City, as fast as the car works recently established at Hyde Park near Chicago, money and men can do it, make it the absolute duty of the on which there has been already expended about $1,350,000. board to anticipate the completion of these overland connec- Quicksilver Mining Company.—The annual report of the tions finishing our connecting lines." by own company is not published as usual, but it was presented-at the Pennsylvania Railroad.—The gross and net earnings in stockholders' meeting, showing that the total product of the January and February have been compiled for the Che^jnicle, mine for the year 1880 amounted to 23,465 flasks. The net showing an increase in gross earnings but a decrease in net profits amounted to $225,779. The company had on hand in earnings owing to increased expenses. cash and quicksilver $591,321 ; also ore and materials amount- ALL LINES EAST OF PITT8BUB0 AXD ERIE. ing to $119,742. . Gross earnings. —— A"et earnings. . St. Johnsbury & Lake Champlain.—It is stated that the 18S1. 1S80. 1881. 1880. St. Johnsbury & Lake Champlain Railroad, reorganized last January $3,189,215 $3,08.^,551 $1,206,861 $1,366,298 summer, is to be extended fromMaquam, Vt., to Rouse's Point, February 3,095,61-1 2,944,576 1,158,104 1,232,182 N. Y., to connect with the Ogdensburg & Lake Champlain, a Total $6,284,829 $6,028,127 $2,364,905 $2,598,480 controlling interest in which stock has been secured by parties As to the lines west of Pittsburg and Erie, the monthly reports in the interest of the Passumpsic and St. Johnsbury & Lake issued in 1880 and for the current year show the, results below. Champlain roads. The company's report states the gain since January 1 this year St. Louis Alton & Terre Haute.—Notice is given to the against the same period in 1880 as $90,966. holders of preferred stock that in settlement of all arrears of ALL LINES WEST OF PITTSBURG. dividends which have accrued upon the preferred stock up to Net surplus over all liabilities. Jan. 1, 1881, the board of directors have declared a dividend of Gain or Loss fifty-five per cent upon the preferred stock, payable in dividend 1881. 1880. 1)1 1881. for which (pending the preparation of the bonds) divi- January $381,539 $305,304 Gain 5:76,'235 bonds, February 143,407 110,710 Galu 26,787 dend bond scrip will be issued on the 20th April next to all stockholders of record on 5th April next. The preferred stock Nettotal $525,036 $122,014 Gain $103,022 transfer-books will be closed on 5th April next at 3 P. M., and —At the annual election the regular ticket received 433,307 reopened on the 20th April at 10 A. M. votes and the Packer ticket 19.918. The ticket elected is aa St. Paul Minneapolis & Manitoba.—It is ofiicially announced follows : George B. Roberts, Alexander M. Fox, Alexander that this railway will be extended during the year from Grand Biddle, N. Parker Shortridge, Henry D. Welsh, William L. Forks northward to the international boundary. Elkins, Wistar Morris, Samuel M. Felton, Henry M. Phillips, D. Atchison B. Cummins, John Price Wethenll, William Thaw, H. H. Southern Pacific. —The first through train'on the Santa Railroad for Deming, making connection Houston. The board of directors elected John C. Sims, jr., as Topeka & Fe the Southern Paciflo for San Franciseo, left Kansas Secretary to succeed Joseph Lesley, who has been ill for Sfever,al with Road years, and George B. Roberts was re-elected President, and A. City March 17. J. Cassatt first Vice-President. From Kansas City to Deming the distance tover the Atchi- son Topeka & Santa Fe) is 1,154 miles; from Deming to San Philadelphia & Reading.—The report of Mr. Geo. M. Dallas, Francisco (over the Southern Pacific and Central Pacific), 1,208 Master and Chairman of the meeting of stockholders of the miles, making the distance from Kans-as City to San Franciseo Philadelphia & Reading Railroad Company on March 14, was tiled in 2,362 miles, against 1,916 from Omaha to San Francisco. the Court of Common Pleas on Monday the 2l3t. The report is given in much detail and includes the following sum- Toledo Canada Southern & Detroit.—At Detroit, Mich., mary of the votes March 23, Cornelius Vanderbilt and Augustus Sehell, trustees registered and polled : for the bondholders of the Toledo Canada Southern & Detroit Whole number of stocklinldera appparinR upon the registry Railroad Company, began a suit in the United States Court for books of the comimny ui,oii tlio day of the meeting .... htnckholilciH .687,043 the foreclosure of a mortgage for $1,500,000 against the road, present !it the nieetiUK In person or by proxy, wlio werertiily reKistcrcdupim interest has not been since July, the rtayof the moetioK...... 292.053 on the ground that the paid atoclili Iders present at tJie meeting iu perscu or by proxy, who 1873. The Court was asked to appoint a Receiver. 1 March 36, 1881.] THE (>'HR0N1CLE. 3S7 O O T T O N . 'l^imcs. STJxe (Eommtvcml Fridat, p. M., March 25, 1881. The Movrmbtt of tiih Crop, as indicated by our telegrams (X)MMEHCIAL EPITOME. from the South to-night, Ls given below. For the week endiof; this evening (Mar. 25), the total receipts have reached 93,690 Friday Nioht, March 18, 1881. bales, against 108,200 balas last week, 140,126 bales the previous Trade has been held in check somewhat by the fact that win- week and 133,931 bales three weeks since; making tne total receipts since the lat of ter lingers. There have been floods in the Southwest and snow September, 1880, 5,012,112 bales, against 4,447,669 balfts for the same period of 1 879-80, showing an iucreaaa storms in the Northweat interrupting transportation again and since September 1, 1880, of 584,443 bales. keeping back buyers who should now be present in our markets. RteHpIt at— Sat. Mon. Taet. Wtd. TKurt. rri. TotaU Still, business has improved, and in some branches may be calleda ctive. The resumption of inland navigation at the Galveston 2,291 3,917 1,30U 2,134 2,034 1,297 12,078 Indlanola, li,a. North and East has made further progress, and naturally 134 134 New Orleans... 6,072 7,416 5,990 1,027 12,603 4,910 38,024 stimulates business. Mobile 360 777 372 674 432 1,119 3,784 has been quite irregular The course of the provision market Florida 1.57 157 during the past week, but at the close firmer advices from Savannah 1,415 977 1,059 179 1,946 1,858 7,033 Chicago and renewed speculative and export demands here Brunsw'k, Ac. Charleston 1,361 720 897 037 1,234 213 5,162 have imparted a stronger tone to the position. Old mess pork Pt. Royal, Slo. 2S2 262 $15@;pl5 50; new mess quoted ?16; extra on the spot sold at Wilmington 196 118 434 106 99 89 1.042 prime, |12; May options were in demand and quoted at $15 70 Moreh'd C.iSec 459 459 Norfolk 2,2^8 1,670 789 ®|15 85, bid and asked. Bacon is still quoted SMc for long, 1,161 1,005 803 7,636 City Poliit,&o. 1,0 S7 1,087 and 85^0. for short, clear; half-and-half, 8)^c. Lard showed a New York 1,047 491 927 1,339 1,692 1,30, 6,861 of 7>^c. per 100 lbs. for the day, and prime West- net advance Boston 681 923 621 632 928 1,092 4,377 April options realized ern sold on the spot at 10-77^@10-80c.; Baltimore 382 415 403 1,208 10-80®10-82%c.; May. 10-82 }^@10-87>^@10-82^c.; June, 10-85® PhUadolp'a, &o. 286 562 153 535 315 1,130 2,987 seller year, 10 10-95@10-85c.; July, 10-flO@10-95(0)10-90e; 40® Totals this week 15,917 17,571 13.407 8.052 22,353 16.39» »3.e90 10-90. Beef hams were sold in a 10-45C. ; refined to the Continent, For comparison, we give the following table showing the week's amall way at $23. Beef steady and quiet at $20@$22 for extra total receipts, the total since Sept. 1, 1880, and the sto<:ks to-night and the same items for the norresponding periods of last year. oity India mess. Butter in fair demand for fine grades, and steady. Cheese firm, with fancy fall-made factory quoted 13^® 1880-81. 1879-80. Stock. Receipts to fairattention at lS?6c.; prime, 12@12)2C. Tallow receives 6%@ TMs Since Sep. ThU Since Sep. March 25. 1881. 1880. 0%c.; stearine, ll)^@n%«- The following is a comparative Weele. 1, 1880. Week. 1, 1879. 1 to March 19 : summary of aggregate exports from November QtUvcston 583,375 4,654 430,995 100,86. 40,888 Increase. 1880-81. 1879-PO. Indi.inola, &o.. 11,313 30 7,431 lbs. 28,845.000 26,178,800 2.ii()6,200 Pork NcwOrloiins 1,340,250 27,057 1,348,123 305.7':8 !70,65I Bacon lbs. 38C,8.50,8(i,> 31H,644.113 68,20i).7.'i3 --- - 38,73S,71ti Lard 11)8. 175,192,710 136.453.99-1: Mobile 3 5 3,05 -.i 2,341 331,331 46,02< 46,192 Florida 20,069 li:i 19.597 5.0S6 590,888,575 481,276,90G 109,0ll,«09 Total lbs. Savannah 790,902 3,770 699,712 53,932 37,624 Rio coffee has been moderately active at a decline to 12«. for Brunswick, &a. 4,830 3,531 fair cargoes, and closes dull and nominal at that price; mild Charleston 568,880 3,305 423,953 40,28(1 29,574 Port Royal, &o. 48.48^ 191 29,414 1,006 2,471 grades have sold fairly at prices above, showing no marked Wilmington 112,582 571 74,17: 3,900 5,027 and steady at the quo- change. Rice has been in good demand M'head Clty,&c 27,06.5 214 25,579 tAtions of last week. Tea has brought steady prices at the Norfolk 620.221 5,570 502,195 18,194 26,593 auctions. Spices have been quiet, and olovas ed aty Point, 4o. 192,325 601 147,477 New York 118,156 1,951 167,905 215,057 233,059 Cocoa has been quiet. Refining molasses has been in good Boston 123,845 1,763 131,155 9,5dO 13,131 firm at 31@32c. for 50 degre?s test, closing demand and gener- Baltimore 23,911 253 15,302 7,43J 15,193 ally held at the higher figure; grocery grades have been quiet Philadolpliia, &e. 41,508 454 33,742 17,3-1 16,149 at firm prices. Raw sugar, at one time rather depressed, owing Total 93,090 5,012.11- 53,419 4,417.009 831.017 y0,516 large receipts direct refiners, has latterly sold.'more freely, to by In order that comparison may ba m^de with other years, we and regained the firmness recently noticeable; fair to good give below the totals at leading potts for six seasons. refining closes at 7/i@7%c., and centrifugal at 7%@SMc. Receipts al- 1880. 1879. 1878. 1877. 1876. Ilhd». Boxts. Hagt. Uelado. 1881. BepeiptselnoeMarchl.lSSl .... 48,580 36i 333,«31 .'io GaIvesi'n,&o. 5,031 fiiiloseinrcMrtrchl. 1881 3.-1.973 203 428.112 164 13,113 4,090 4,151 1,793 6.142 Block Marcli 23, 1881 38,184 7,102 910,499 294 Now Orleans. 38,024 27,057 16,607 22,016 14,290 25,461 Stock M.-jrcli 24, 1880 39,700 443 653,470 2,803 Mobile 3,734 2,341 2.303 5,210 2,020 5,468 Refined sugar has latterly been in good demand and firmer, Savannah 7,033 3,500 8,191 8,222 2,779 3,219 Charl'st'n,<&c 5,421 3,990 2,888 3.454 1,550 4,917 closing at 9%c. for crushed, 9}^@93^c. for powdered, ^%a. for Wilm'gt'n, etc 1.501 783 1,821 1,895 766 1,538 granulated for cut loaf. and 9Mo. Norfolk, Ao.. 8,723 6,240 11,353 7.719 3.358 7,597 Kentucky tobacco has been very quiet in the past week, and All others 16,038 4,807 11,336 12,767 3,823 5.512 the sales are only 344 hhds., of which 221 for export. Prices «how a wider range. Lugs are quoted at 4%@'))^g., ami leaf Tot. this w'k. 93,690 5:f,419 00,093 65,470 30.397 5 >,912 6@15c. Seed leaf has had a pretty free movement, and sales Since Snpt. 1. 1U7.00!! 1119.220 3393, 458 37;U.i>l!> 37 ,678 fop the week aggregate 1,801 cases, as follows: 1,100 cases 1879 (Jiilvt'.ston iiioludod liKlliiuDla; Cliai-lu^iloti ineiiidiM Port rtoyal. Ac; crop, Pennsylvat ia, 12@23c.; 116 cases 1880 crop. Pennsylvania, WilminjftOQ includes Morelu-ad City, Ac; Norfolk iuoludos City Point. Ao. private terms; 150 cases 1879 crop. New England, 15@21c.; 100 The exports for the week ending this evening reach a total cases 1878 crop, Ohio, private terms; 200 cases 1879 crop, Ohio, of 104,204 bales, of which 61,120 were to Great Britain, 10,979 to 43^®13c., and 135 cases 1879 crop. State, private terms. Also, France and 29,105 to rest of the Continent, while the stocks aa «00 bales Havana, 8-2c.@$l 20. made up this evening are now 831,017 bales. Below are th« Naval stores have latterly been quiet, but prices are none the exports for the waek and since 3 ^ptember, 1. 1330. less firm at $1 80@$1 85 for .strained to good strained rosins and 46c. for spirits turpentine. Petroleum showed a further decline Week Hndla; March S. Frarn Sept, 1. 1830. Co Jfor. IS, laSt. in sympathy with the great depression throughout the United Export* Bl^trtod tn— Exported to— Kingdom and the Continent. Refined, in bbls., for export, from— quoted at Crude certificates are also lower, OnnU- Total (Ireat 7Me- opening at France' runt. ^t"*- 76%c. and selling at 78)^ and 76%c., closing at 77^o. Ingot Brtt'n. nent. Week. Britatn. sopper was in moderate sale at 19>^@19''^c. for Lake. A good Galveston 0,600 1,100 3.700 23J,18S 37,201 74,8-9 317,0?S 20.1S7 7,434 .',515 67^.553 349.740 232.;»7 l.'53,933 business has been done in rails, embracing S^OOO tons ; steel New Orleans.. are Mobile 65,931 17,038 T.4t« Sl.tfl quoted at $62@$65 ; iron, $48@$50 ; old iron, $27 [email protected]. Ocean freight room has been sparingly tsken during the past Florida SaTiinniib 6,480 2,3So 11,161 13S.I8I 37,963 sun* 438,108 •week, and, as tonnige is in fairly liberal supply, rates have been Charleston*... 1,340 8,287 179.990 50.S93 173,978 401.309 rather irregular and at times marked and sudden declines have WLlralnffton... 1,625 57.116 1.441 II,-222 Ol.SlS. taken place. The engagements to-day were : Grain to Liver- Norfolk 4,1M 273.534 9.359 i,sia 233,1 90 pool by steam, 4M@4^d.; butter and cheese, 27s. 6d.@30s.; Now York 8,^63 1,183 818 553 27.3-iS 81,071 327.754 bacon, 25s.; cotton flour, 173. y-16@Md.; 6d,@189. 9d. per ton ; Boston 2.B0S 07,889 e7.83a grain to London by steam 13,4:14 9a.33l> quoted 6d.; flour, 18«. 9d. per ton ; UalUmore 6,«10 80.703 grain to Glasgow by steam quoted 5j 338 THE CHRONK^LE. fToiK XXXII. SA.LBe Pricbs op PuruHBa In addition to above exports, our telegrams to-night also give Tea asd are shown by the follow- •omprehensire table. In this statement OS the following amounts of cotton on shipboard, not cleared, at ing will be found th« market, the prices of sales for each the porta named. We add similar figures for New York, which daily month each day, and in addition daily are prepared for our special use by Messrs. Carey, Tale & the closing bids, to the and total sales: Lambert, 60 Bearer Street. S * S oiug? Q'Ug'2 fOBO On Shipboard, not cleared—/or t*«itt- ^-jSea, sr-PS<^i32Px £3 Leaving 25, -* - ILUtCH AT— Other Coast- Stock. B SS ag?^ B'S?! bS-»^ Great France. Total. Britain. Foreign wite. "5 = 3 «^s? '^^B^is.? «wsr, : E^-g p.S.|» :|E3 29,510 17,157 30,675 601 78,033 227.695 : ^r^ Orleans '• Hew ^- to Mobile 14,500 5,100 None. 2,000 21.600 24.420 <" : S: 8.491 4.HO0 7.800 550 21.041 24,639 si b Charleston § I BavannnU 1,200 2,500 13,200 1,500 18,100 35,532 uto Galveston 24,758 2,581 6,506 None. 33,845 67,020 I 15' I Kew York 13,700 None. 800 None. '17,500 : 198. Other porta 9,000 None. 1,000 3,000 13.000 49,535 o o o o o gtsog- It, 13 I- Total 101,159 32,138 1 59,981 7,741 204,019 ! 626.993 Si^-ig- ?<^:ik S<«<»b c^o-b g«a=d £8i.>-'*| gSi-'^ 69i:S cSlio< s presses for foreign K'f "C^S "S'K^S fi^-Jo p'^'v'S •Included In this amount there are 3,0001)ale8at • Oo-i oor" r Oo.^ *<^0'' ^o^ ports the deatination of which we cannot learn. eoo' CD^ tc^ ' 6o' h^o loO- 05 ^J Oi W to The speculation in futures opened the week under review, on oo OO OO OO OO Of-*' dut Saturday last, with great activity and buoyancy, especially for oe> It-IO oto I « I @ I e» this crop, the advance amounting to 10@17 points. The advance CO OCo OOo OOo OOo ss OTCnO da>o ocobo was due in part to the bad weather at the South, but more OS 03 ^05 -0 directly to the reports of the inferior quality and condition of oo oo oo oo O-l the recent deliveries from plantations, many asserting that 8)0 I M — o, t-' — Cd it- mnch is so poor that it cannot be delivered on contracts. The OOo OOo OCo O©o oo? citoiO Ctc.O advance on Saturday was more than lost on Monday. The " short -J to 00 00 CO 00 00 artificial recov- interest " having been covered, the demand was -4-'l i**co,-« ^1 1: M if'Oi-. OCT 03 little Tues- ®." I 6)0- regular I ered, and there proved to be very demand. I ®P 000 Oo OOo I CO OOo dull, closed firmer. was dull and I 90 I day was but Wednesday 1 .10 •qoto CO 60 010 closed lower. Thursday opened dnU and weak, but closed 00 00 00 00 00 1-0 cod -jd CD CD ob-l 6CD Bteady ; and to-day there was a recovery, amounting to rather woto •;"?t3 *.tOto O-q^ tOif-it*- 8=0 ^01 ®."" I S)." I ®01 I more than a recovery of the decline of yesterday. Cotton on the S)*- I I I OOoM — OOo Oo OOo 090 I spot was quoted 1-1 6c. higher on[ Saturday, and was quite active ccxO -j-jo -"lobo I I I S05 90 UPLANDS. NEW ORLEANS. TEXAS. t-^-cn Uar. W to 90 990 OOo OOo OOo March 25. Sat. niou Tnes Sat. OTon Tnes Sat. non. Tae* cjtdo ddo cji-jo OCQOO to 010 »-c;t 00 o> to to Ordln'y.^ft 73,6 73l6 7716 7^16 77,6 77,6 77,6 77,6 00 00 00 00 Strict Ord. 713,„ 713,^ 83,6 83,6 83,6 H3,6 83,6 83,6 coco MM koto coco toes CPO CO to Good Ord.. 8'r 8'r B-'fl S3" 93,6 93,6 93,6 93,6 «.>-' ».-" BtT. G'd Ord 93a 93r 938 E)n,fi 9ll,„ 911,6 9U,6 911,6 911,6 IS I I « I Midd'^ « t-'Mu, Low 101, n 101,6 lO'ie 107,6 io7,r lO'ig 107,; 107, i 107,6 OOo MOo OOo OOc OOo 000 Blr.L'wMid 10«,« 10V,« 109,6 lOTfl 1078 lOT," 107« 1078 107« cotoO totoo tOtbO cocoC COl^-C Middling... 1013i6 10i:t,„ 1013,6 111,6 111,6 l'.l,6 Il'l6 III16 111,6 CJCO rf-to ox Good Mid.. Ilia IIV nifl 11% 11% 11% 11% 11% 11% Btr.G'dMid 11^ 11% 11% 12 12 12 12 12 12 99 99 99 Mldd'gFair tO'-^ I— .- tOM CO to 12% 1238 1238 12=8 12=8 120g 1238 12=8 1258 to If*. 00 UIO a. 00 Fair 13^8 1318 13^6 1338 1338 1338 ©Kl 1338 1338 U3a I 8 I Sm I MMoo Wed Frl. OOo OCc OOo OOo OCo oSg Th. Wed Til. Frl. Wed Th. Fr!. to.^o hi ,10 Mh^O to too ^tio to to or 00 COiCk ODCD CDQD Ordln'y.^lB) 73,6" 716 71a 77,6 738 738 <'13 738 738 BtriotOrd.. 00 71*16 7% 7% 83,6 8% 81a 83,6 8% .818 99 99 99 Good Ord.. 878 813,6 813,6 93,0 9% 918 MM coco 93,6 91a 91a 00 If' CO 0500 OSM Btr. G'd Ord 938 ^95,6 9^16 911,6 9=8 9=8 9=8 9=8 I 8) I I S) ,Ri'i' I ^ s 18 Low Midd'e 101,6 10 107,6 1038 1038 107,6 1038 1038 Mt-* Jk t-'l-'O MMo Mh-CO tr.L'wMid 10«16 IOI3 lOifl 1078 1013,3 1013,6 1078 1013,6 1013,6 OOo OOo GOo OOo OOo OOo IddUng... 1013,6 10% III16 to too mmO AmO totoO MtoC cocoo 10% 11 11 III16 11 COO 00 00 COCJ .. III2 Good Mid ll''l6 117,6 11% IIII16 1111,6 11% 111116 1111,6 Btr.G'dMid 11% llitie liPie 12 11-^16 1115,6 12 1116,6 111°16 Mldd'g Fair 1238 126,6 12" 12S8 129,6 I I I I I I I 1 I -I Fair I3I8 12»I6 125a 129,8 :129,6 131,6 131 1338 130,6 135,6 1338 136,6 |136,6 I ® STAINED. Sat. raoD Tnes UTed Th. Frl. 1 I I I I I cio I I I I good Ordinary If^ f) lb 658 6=8 658 658 69,6 - Strict Good Ordinary 7% 7% 7% 7% 711,6 Low Middling 858 8=8 858 858 89,6 * Includes sales In September for September, 621,400; Sept.-Oct. for Middling 915,6 91^16 916,6 915,6 978 978 Oct., 946.500 ; Sept.-Nov. tor November, 762.100 ; Sept.-Dec. for Decem- ber, 1,464..500; Sept.-Jan. for .ianuary, 2,588,900; Sept.-Feb. for Feb- MARKET AND SALES. ruary, 2,372,700; Marcb for Febniary, 1882, 300 Transferable Orders—Saturday, 1085; Monday, 1005; Tuesday, 10-70; 10-60: Thursday, 10-55 ; Fridaiy, 10-75. SALES OF SPOT AND TRANSIT. Wednesday, SPOT MABKBT Sliort Notice for March—Monday, 10-70. CLOSED. Fx- Con- Spee- Trattr Deliv- Total. Sales. pori. sump. ut't'n til. eries. The following exchanges have been made during the week: Firm at 1,6 adv. 1,307 235 -65 1,542 •07 pd. to exch. 100 March s. n. I pd. to exch. 500 Nov. for June. Easy 133,500 800 900 338 1,238 152.500 500 21st for April. I -08 i)d. to exch. 200 June for July. Quiet 1,031 543 1,649 92,700 -13 pd. to exch. 500 June for Aug. 02 pd. to e-tch. 400 Apr. for Mar. Steady 700 2,900 442 3,342 81.300 700 •63 pd. to exch. 100 Oct. for Aug. -30 pd. to exch. 300 Apr. for Auj^. Quiet at 1,6 dec 477 •11 477 71,900 500 pd. to exch. 100 Apr. for May. | Quiet and eteady 1,606 431 1,431 78,500 400 Sotal At 'mE IiTTERioE Ports the movement that_ is the receipt* 7,138 2.4GG 75 9,679 610,400 3,600 — and shipments for the week, and stocks to-night, and for th» Bie dally deliveries elven above are actually delivered the dav ore- corresponding week of 1880—is set out in detail m the follow ing tons " *^ Vtonstto that on which they are reported. I statement:cf of omant- . . 1 — MABcn 20. 1831.] THE CHRONICLE. 339 Week ending Uar. 25, '81. Week ending '80. itar. 26, Jlatl Indian, hranl, 340 THE (JHRONKJLE. [Vot. XXXIL ther- New York; and the records of the transactions of that period, reaohed ninety-eight hundredths of an inch. Average as shown by the merchants' books, will generally demonstrate mometer 47, highest 80 and lowest 80. past that, tempted by the largo remuneration, they took large Nanhcille, Tennessee.—It has rained on two days the of an inch. chances to make business, and that in the end they had to V -week, the rainfall reaching seyenty hundredths carry losses. Average thermometer 47, highest 70 and lowest 32. new rule claim for it, I believe, that it Memphis, Tennessee.— Telegram not received. The advocates of the will to an increase in the membership of the Exchange, Mobile, Alabama.—It rained severely one day and was lead week, with the advantages naturally attendant upon this. Granting sTiowery on one day the early portion of the past is now that it does bring in one hundred or so more members, can or but the latter part has been clear and pleasant. It will they bring an amount of revenue equivalent to that lost dondy. The rainfall reached one inch and fifty hundredths. from the causes first named? The cause of the small receipts this week is the high waters, I might go further, and criticise the terms on which it is jiro- •which overflowed some sections; but no serious damage has been posed to regulate trading between members ; bnt as my object done Average thermometer !55, highest 69 and lowest 38. is to call what seems- Montgomery, Alabama.—^» had rain on four days the in this communication merely attention to clear to me such grave defects in the changed by-laws, and trusting early part of the past week, but the latter portion has been that they may be put into more satisfactory shape, I will avoia and pleasant. The flood is now subsiding. The rainfall reached going into further detail. Chaklestom. one fnch and eighty-four hundredths. Average thermometer 54, highest 76 and lowest 35. Eluson & CJo.'s CiEOTiAE POE Mahch.—We have this week Selma, Alabama.—yfe had rain on three days the early received Mr. Ellison's circular dated Marfth 9, and give it part of the past week, but the latter portion has been clear and pleasant. The causes of the small receipts this week are from below : the high water and heavy rains. COURSE OF THB LIVERPOOL MARKET, FEB. 8 TO MARCH 9. the early part Madison, Florida.—We had rain on two days Our last report was issued on Feb. 8. The market has since and of the past week, but the latter portion ha-s been clear been almost uniformly quiet, with, up to the close of February, the nights have been pleasant. The days have been warm but ^^jy trifling fluctuations in prices. Spinners bought sparingly cold. The weather is so unfavorable that much seed planted Ug^^^^j_jj^gi.gj^jjgj^jjjgpjjtfQ^fjggjy^ipggt from the quay, has failed to come up. Average thermometer 52, highest 72 and safflcient activity in Manchester to | ^^^ because there was not lowest 42. necessitate any large buying here. Speculators did very little, past week., Macon, Georgia.—It has rained on three days the because in view of the uncertainty surrounding the develop- Average thermometer 58, highest 75 and lowest 31. ments of the American crop the prices current were considered unusually severe Columbus, Georgia.—yfe have had an too low to go "long" and too high to go " short." The heavv inches storm one day the past week, the rainfall reaching three import here and the absence of the long-looked-for small done. The and fifty-five hundredths. Much damage has been receipts at the American ports had caused a decline of '%A. per from 39 to 65, averaging 55. thermometer has ranged lb. between the 25th January and the 8tb February—bringing rain on three days the Savannah, Georgia.—We have had middling upland down to 6?8cl. on the spot, and to the neighbor- the week has been plea.sant. The past week, and the rest of hood of 6^d. to 65/id. for distant futures, at which prices there eight hundredths. The ther- rainfall reached one inch and was just as little inclination to sell as there was to buy. On the mometer has ranged from 37 to 76, averaging 56. 28th February and the 1st March a sudden speculative demand had light rain on two days the early Augusta, Georgia.—We drove prices up about %d. per lb. for both spots and futures ; the latter portion has been clear and part of the past week, but but in the absence of adequate response from either Manches- one inch and twenty-nine hun- pleasant. The rainfall reached ter or New York, the advance was quickly lost. During the lowest 36. Oreths. Average thermometer 53, highest 71 and past few days the market has gone very weak, not to say on two days the Charleston, South Carolina.—it has rained depressed, and prices have not only lost the ^d. advance inch twenty-two hun- past week, the rainfall reaching one and gained between Feb. 25 and March 1, but 3-16d. to 5-163 highest and lowest 38. dredths. Average thermometer 55, 70 besides. The continued liberal receipts at the American ports received telegraph, The following statement we have also by have led to increased estimates of supply and to modified at o'clock showing the height of the rivers at the points named 3 opinions asto the probable future course of prices, so much bo March 24, 1881, and March 25, 1880. that holders hitherto firm and confident have become very '81 Mar. 25, '80. Mar. 24, heavily at a net decline in Feel, Inch. Feet. Inch, easy sellerB. The market closes 9-32d. to 5-16d. for Hew Orleans Below high-watermark .. 2 7 1 7 middling upland of 3-16d. on the spot and Memphis Above low-water mark. . 22 7 34 4 futures. In good ordinary there is a decline of %d. to 7-16d.; Kashville Above low-wat«r mark... 17 11 21 in low middling and middlhig, 3-16d. to Md.; in good middling, mark. . 20 11 23 4 Bhreveport Above low-water Egyptians are Vlokshure Above low-water mark... 10 8 42 10 3-16d. Brazils have given way 3 16d. to ^^. fall >6d. in fair brown. In Suratfi, New Orleans reported below high-water mark of 1871 until unchanged, except a of Broach is quoted the same as a month since, but other descrip- Sept. 9, 1874, when the zero of gauge was changed to high-water tions are 3-16d. to %di. lower. mark of April 15 and 16, 1874, which is 6-10th3 of a foot above The following is an account of the principal fluctuations in 1871, or 16 feet above low-water mark at that point. the prices of middling upland on the spot and for forward Rules of the Cotton Exchanqb. We give the The New — delivery during the past month: following as a sample of the opinions we are receiving from good houses in the South on the new regulations of the Cotton Fti.- Mar.- Apr.- Xay- June- Juhj- Aug.- pt.- iiar. May. June. July. Any. Sept. Exchange, which we criticised before their adoption. Spot Apr. CHAELEiTON, 8. C, March 22, 1881. Feb. 8 638 <;% 6116 6% 01'32 01 932 66b " 10 Cie 6»K. 6% 62 13 6i'i6 the Commercial and Fjsasoial Chroniole : JBditor of " 12 6'l6ft?" (i^a 6»2 6>'32 61%; " 6»16 6=8 61116 6'^*^3'> 02634 69i6 Sir :—I have received through my correspondent in your 16 01.6 6 I'm " 25 008 6I2 «Sl6 OlOga 663 6Hr the recently adopted by-laws relating to mem- 6% 6% city a copy of Mar. 1 61132 011(3., 6ii,e 0-335 03. 0263 0»8 6l8 6II32 638 6S,g berships and fixed commissions in the New York Cotton 9 63i« 6^,« 6''a2 Bichanore. As one who has handled and does handle a fairly at on the 2l8t large line of contracts, I would ask that yon allow me to tres- October-November deliveries were sold 6Md. their value ie pass on your columns that I may give expression to an outside February and at 6 16-32d. on March 1. To-day Tiew of the question. 6 l-16d., and Nov.-Dec. 6d. The Cotton Exchange was, I think, intended to promote the COUESB OP THB MANCHESTER MARKET, FEB. 8 TO KAECH 8. interests of the cotton trade of New York, and, in doing so, to Quietness has been the ruling feature of the market through- that body in increase its magnitude. The recent action of out the month. The Indian demand has been very slow, but of twenty-flve cents establishing a wimmMm rate of brokerage more business has been done for China. Brazilian ehippeis which rate is a net one, (25c.) per bale on "turns" in "futures," have operated to a fair extent; but the anticipated improve- that operators outside free of return commission, &c., means ment in the shipments to Chili and Peru has not yet taken business recognized agent of a of New York, doing through a place. Business for the Continental and miscellaneous .°iar- forty to one member of the Exchange, must pay an advance of kets has lacked energy, and the home trade has continued heretofore obtaining. Can such hundred per cent on the prices inactive. On the whole, tha sales have fallen short of the out- is well known that the large an advance be maintained ? It turn of the mills; but as spinners and manufacturers are still as the daily transac- aggregates of sales shown on the board well under contract, stocks have not accumulated, and although and five-hundred bale tions are made up of numerous one, two the medium counts of yarns and the current makes of shirtings conversant with the market fluctuations of the lots, and no one have given way about ^d. per lb. and \)^d. to 3d. per piece, m years believe that small operator can pay the past few caa any sympathy with the fall in cotton, there has not at any time prices demanded and avoid losing money unless he is satisfied to been any pressure to sell. operate for a cent or so per pound profit; and this he can only «* * • * * * do a few times a year at most. MOVEMENTS DTJRISG THE 8EAB0K, OCT. 1 TO- FEB. 28. Moreover, it may safely be said that the South and West not during only can not afford to pay such charges, but wiU not, when The deliveries to English and Continental spinners five season compare as follows with the they can trade on more liberal terms in New Orleans in cotton the first months of the ^ and in Chicago in produce. Both points are competing with figures for the corresponding period of last seasonj New York. 'Thus the first probable effect of the new rules will OrMt Britain. Cimtinent. be a large reduction in the volume of business, brought about by the partial Kuppression of speculation or its diversion to 1880-bl. 1879-80. 1880-81. 1879-30. other markets. 1,343,050 1,130,120 1,115,920 Large commissions have often heretofore proved as disas- No. of bales 1,347,020 436 Av.wght (11»8> 45.S 451 443 486.541,120 trous to the broker or commission merchant as they have been Tot-wfe'litClbs) 610,200,060 605,715,550 50O,643,15U exhausting to the principal. It is but a few years since that Bales of 40a 1,251,000 1,216,000 one dollar per bale, or more, was paid at points away from ItM 1.525.000 1.514,000 I . ,, I Mabos M. 1881.J THE CHRONICLE. 341 The present rate of coagumptioa ia at least 68,000 bales of sentiment and feeling have as much influence as facta and 400 lbs. per week in Great Britain, and 54,000 per week on the statistical calculations in producing fluctuations in values, wa Continent, against 65,500 and 52,000 respectively last year, or leave oar readers to draw their own conclu.sions frofn the fore- for four weeka a total for Great Britain of 273,000 against going statement of the present situation of the market. the Continent of 216,000 against 208,000 bales, 282,000, and for Jdtb Bdtts, Backhwo, Ktc.—The market continues fairly busr which, added to the figures given in our last report, bring the for bagging, and parcels continue to be taken. The tone is total for the five months to 1,413,000 against 1,320,000 for Great steady, and holders are quoting full flgares with litllo disposi- Britain, and 1,119,000 against 1,01)7,000 for the Continent. tion to shade quotations. There have been sales of 3,000 rolla On the basis of the foregoing estimates, the movements for various weights at 9c. for 1% lbs., 10c. for 2 lbs. and myiQlXc. months of this season and last compare as follows, in the five for standard quality. Butts have aUo sold quite freely, and tb* the weight of 400 lbs.: bales of uniform market Ls very firm in tone. There hare been transactions to the extent of 6,000 bales at full rates. The most of these lotM Oreat Britain. Oontintnt. have gone into consumption, and this helps to keep prices firm. The market closes with sellers asking 2>Sc. for paper quality, 1880-81. 1879-80. 1880-81. 1879-80. and 2J^c. for spring grades, while buyers offer a shade andar these prices. 27,000 27,000 137,000 94,000 CouPABATiTB Post RsoBipra axd Dailt Cbop DeHveriea to Feb. 28 1,525,000 1,614,000 1.351,000 1,216,000 Hotsxbiit.— A cjmparlson of th« jwrt movement by weeks is not accurate, Supply 1,552,000 1,541,000 1,38S,000 1,310,000 Consumption, flvo moatlis .... 1,413,000 1,320,000 1.119,000 1,097,000 as the weeks in different years do not end on the same day of th« month. We have consequently added to our other standing; Snrplns stock Fob. 2a 139,000 221,000 269,000 213,000 tables a daily and monthlr statement, that the reader mmj It is always difiicult to ascertain the correct rate of consump- constantly have before him the data for seeing the exact relative tion. The above estimates look large, but our impression is movement for the years named. The movement each nxnth that they are too small. We had rather err on this side, how- since September 1 has been as follows: ever, than in the opposite direction. In reference to this matter, it is important to note that during the fli-st flvo months lionlhly year Beginning September 1. of the season the export of eotton goods from Great Britain Rceeipta. 1800. 1879. 1878. 1877. 1876. 1876. amounted to 1,979 million yards, against 1,710 million yards last sea-son, and of yarn to 99 million pounds, against 95 Bept'mb'r 458,478 333,643 288,846 98,491 236,861- 169,077 millions. Reduced to weight on the basis of 6J6 yards to the October. 968,318 883,492 639,264 578,533 675,260 610,318 pound, the total weight of yarns and goods reached 459 Novemb'r 1,006,501 942,272 779.237 822,493 901,392 740,116 million pounds, against 406 millions—an increase of over 12 Decemb'r 1,020,802 956,164 893,664 900,119 787,769 82l,17T cent. Assuming the home trade to have taken 80 million per January . 571,701 647,110 618,727 689,610 500,680 637,067 pounds in each season, the totals would be 539 millions, against February. 572,728 417,918 566,821 472,051 449,686 479,801 486 millions, or an increase of nearly 11 per cent. Our esti- mated deliveries are 1,413,000 bales, against 1,320,000 bales of Ijlalyear 4,.593,52.3 4,215,929 3,836,564 3,561,300 3,531,655 3,457,551 400 lbs., equal to 67,200 per week for 21 weeks this season, Pero'tage of tot. port against 61,400 for 21?^ weeks last season, or an increase of less reoelptaFub. 28-.. 8i'28 86-27 81-95 87-95 82-50 than 9^ per cent. On the Continent the latest advices report This statement shows that up to Feb. 28 the receipts at the more animation in Russiaand a distinct improvement in France, ports this year were 382,599 bales more than in 1879-80 and where the mills are now nearly all working full time. 761,964 balei" more than at the same time in 1878-79. By adding PKOSPECTO. to the above totals to Feb^ 28 the daily receipts since that time, we shall be able to reach an exact comparison of the movement for Although there is still a wide difference of opinion respect- the different years. ing the probable supply of American cotton for the balance of the season, the tendency of public opinion during the past month has unmistakably been in the direction of increased 1881. 1880. 1879. 1878. 1877. 1876. •estimates. This change has been produced by the continued rot.Fb.28 4,593,528 4,215,929 3,936.561 3,561,300 3,551,635 3,457,554 large receipts at the ports; the outcome partly of cotton pre- Mar.l.... 20,473 16,279 10,547 17.734 6,325 7,842 cotton viously kept back, owing to bad roads, and partly of " 2.... 12,105 12,171 8. 9,868 9,782 12,513 gathered after the cessation of the stormy weather. Even yet " 3.... 16,505 12,432 19,628 8. 4,507 12.817 is too to say anything positive on point; but at the it early the " 4.... 22,125 10,056 19,653 32,93.=! 8. 10,411 moment it seems pretty clear that the estimated increase in " 5.... 21,006 13,401 7,947 17,175 8,531 8. acreage last season (and for several previous seasons) was much '• 6.... 8. 9,92£ 9,860 9,746 6,678 19,134 too small. We never attached much importance to the effect of " 7.... 28,948 8. 15,631 8,873 8,72-2 15,922 the bad weather on the size of the crop, however much injury " 8.... 24,435 16,415 12,130 12,300 6,561 15,874 it might do in respect of qxiality. As a matter of fact, 10 " 9.... 18,576 6,721 S. 8,728 16,23' 6,387 bales of clean cotton, of a given average weight, miied with "10.... 19.011 6,711 18,761 a. 8,473 10,364 iSoil and leaf, would probably make 12 or 13 bales of dirty "11.... 28.150 110,944 14,837 19,179 8. 8,451 cotton of the same average weight, and so swell the apparent "12 17,256 13,745 8,298 11,4^7 8,391 8. size of the crop. If there had been an early frost, it would "IS.... 8. 7,707 10,344 14,234 8,017 17,597 have been a different matter ; but the frost was really late, and "14.... 8. 13,767 13,992 6,758 11,236 then not universally severe. The question of the quality of 23,282 " 15.... 19,161 13,435 7,531 14,644 7,692 11,015 the crop will no doubt come into play later on in the season, " 8. - 6,311 'but for the immediate future the choice of clean cotton prom- 16.... 13,192 7,411 11,210 6.572 " 12,019 4,227 ises to be sufficiently abundant to meet the requirements ai 17.... 14,900 6,660 8. 9,623 " consumers without materially aflfecting prices. 18.... 18,106 4,150 7,453 18,579 8. 10,121 Between October and January last the favorite crop esti- " 19.... 15,917 10,248 9,718 16,441 7,229 3. mates ranged from 5,750,000 and 6,000,000 bales, with, at the " 20.... S. 11,141 10,584 10,397 5,378 12,539 close of this period, a leaning towards the larger figure. Those "21.... 17,571 8. 13,897 11,024 7,584 7,913 who held this view expected that, in the course of the fluctua- " 22.... 13,407 11,637 6,427 8,072 4,982 13,096 tions in prices, distant futures might sink to 6.J^d., and near " 23.... 8.052 8.099 8. 9,300 5,943 10,312 cotton 6/id., and that these prices would bring in buyers; but " 24.... 22,353 7,110 13,707 8. 3,836 9,375 as the most current crop estimates now range from 6,100,000 to " 25.... 16,390 7,133 8,831 13.631 8. 10,479 6,300,000, views as to the probable course of prices have natur- Total 3,012.112 .^,139,970 4,087,507 3,831,469 3,705,900 3,707,007 :»lly undergone some modification, and the prevalent belief Percentage of total now is that something below the prices just named will have to p'rt reo'D t« Mar. 25 88-77 91-91 88-63 91-77 88-45 be touched before buyers are tempted to resume active opera- tions. Hence the weakness which has come over the market This statement shows that the receipts since Sept. 1 up to during the past few days, after a month of persistent steadi- to-night are now 572,142 bales more than they were to the same ness in the face of adverse circumstances. At the moment, the day of the month in 1880 and 924,605 bales more than they were prevalent inclination is to take an unfavorable view of the out- to the same day of the month in 1879. We add to the table look, and to expect a continued- decline in prices; it is said that the percentages of total port receipts which had been received to the visible supply of cotton is nearly 300,000 bales larger than March 25 in each of the years named. it was at this time last year; that the American receipts will India Cotton Movement from all Ports.—The figures which continue to exceed those of last season; that by-and-by the new are now collected for us, and forwarded by cable each Friday, of crop will cast its shadow before that ; and at some time during the shipments from Calcutta, Madras, Tuticorin, Carwar, &c.» the summer the stock in Liverpool may exceed 1,000,000 bales. enable us, in connection with our previously-received report from Those who take a more hopeful view say that though the Bombay, to furnish our readers with a full and complete India visible supply is 300,000 bales larger than it was last year, the movement for each week. We first give the Bombay statement stocks at the mills are smaller, while the rate of consumption for the week and year, bringing the figures down to March 24. is considerably greater; they attach little importance to the BOMBAY RECEIPTS AND StHPMENTS FOR FOCR TEARS. American receipts from this date forward, as any increase in quantity will, they say, be counterbalanced by increased Shipmenla this week. Shipnt enls since Jan. 1. JteeMpts. waste in spinning; while, as to the new crop, they contend that Tear Oreat Conti- (treat Conti- This Sines Total. Total. tt is just as likely that it will have a bad start as a good one. Brit'n. nent. Britain nent. Week. Jan. 1. Finally, they point to the fact that the present price of middling upland-6 1881 12,000 4.000 16,000 83,000 147.000 230,000 15.000 365,000 3-16d.—is 13-16d. below the average of 1880 14,000 8,000;3-2,000 Su.OOO 120.000 206.000 49.000 3,59.000 last season, and about the same as the average of the previous 1879 1,000 1.000 5-1.000 70,000 121.000 37,000 240.00O 113.000 154,000 269,000 10.000 408.000 three seasons, when trade throughout the world was bad. As 1878 17,000 7.000'24.000 . a42 THE (CHRONICLE. |Vou XXXIL According to the foregoing Bombaj appears to show a The Following are the Receipts of Cotton at New York, decrease compared with last year in the week's receipts of 3,000 Boston, Philadelphia and Baltimore for the past week, and bales, and a decrease in shipments of 6,000 bales, and the since September 1, 1880: 1 an increa.9e of 24,000 bales. shipments since January show New I'ork. Boston. Philadelphia. Baltimore. The movement at Calcutta, Madras, Taticorin, Carwar, &c., for necHpts from— ThU Since ThU Since ThU Since ThU SiTiee same week and years has been as follows the week. Sept. 1. week. Sept. 1. week. Sept.l. week. Sept, 1. OALCDTTA. HVI>'t\-l. irlrl.VlKIN. i;\livv VK. RASOOOM \N0 KCKRAOHBB. S. Orl'ans 2.6i4 121.772 7,220 SMnments this wnek. \ Shipmenlii tinee .Tanunry 1. Tenon .... 3,303 85.477 3,291 i'.941 "598 Year. Oreat Oonti- Great Conti- Bavaiinali 1,891 201,557 23,-553 20,771 2,638 46,497 Total. Total. Britain. nent. Britain. nent. Mobile ... '""56 2,075 Florida . . 4,678 2,402 1881 64.000 53.000 117,000 8 Car'lina 1,114 132,710 "i'26 16,812 1880 li'.obo 1,000 15,000 44,000 9.000 53,000 N.Car'liua 905 36,743 91 18.285 1879 41,000 22,000 63.000 Vlriri'.iia.. 2,393 205,184 i',67i 54.627 1,030 83,450 1878 i.o'oo 1.000 15.000 21.000 36.000 NortU. pts 4,600 4.928 12.'),9'j6 132 T6Qn..&o. 6,86i 118,456 2,415 104,407 i',474 34'. 777 "59'7 21,623 The above totaLs for this week show that the movement from Poreign . March 26, lf-84.J THE CHKOJSKXL. 3^3 Cotton freights the past week have been as follows: day, bat the changes for the week are not large. Some depres- sion in futures was caused at times by the anticipation of large Salur. Mon, Tiiet. Weilna. Tftur*. Fri. supplies so soon as the snow blockades are removed from West- 3,„®l4 3,gai4 ern railroads. Yesterday, the first " tow " down the Uverpoul, steam (/. »16S>-1 :iia®i4 ai8®'4 »18»>4 HudsoB ll64®'4 Do all...'^. 'lean 3l4*l4 :>ioai4 1184® '4 River from Albany arrived, and had a depressing inflaence, Barre, steam r. »3 ^ >a »a >fl Hi although it must be several weeks before any considerable Do sail c. Hi »s a Hi Hi ^ qnantities can be received from the Erie Canal. The sowing Bremen, steum. .e. 9l« »1. »18 7ig®ia Tis-SHl 7l8®Hl season for spring wheat in the Northwest has been again Do sail e. 'ma's 718® »9 ^laaHi 7188H, 'isaHj 'la®"* Oambiiric. steam d. H »3 >9 a >9 >« endangered by snow storms. The exports of wheat (including Do 8all...rf hi >« •s >9 Hi Hi flour reduced to wheat) from the United States in February, =8 »9 »18®»8 Amat'd'm, steam. c. »8 18®% »I6®»8 1881, were about 10,144,000 bushels, against 7,531,000 bnshels Do saU...(f. >a >a >s >« Hj Hi in February, 1880, an increase of about 34 per cent. The total Baltic, steam. ...d. "is "i» "l8 H % 38 exports for the eight months of the fiscal year Do sail t. »19 »18 Oie "16 "18 were about 131 million bushels, the largest ever recorded, being an excess of from Liverpool, we have the following Liverpool.—B/ cable about a million bushels over the corresponding period of the statement of the week's sales, stocks, &c., at that port: previous fiscal year. To-day the market was dull. No. 2 red winter selling at |1 22 for April and ?1 20 for May, and No. 1 Uareh 4. March 11. Mnreh 18. JIforcA 25. white $1 21 on the spot. 8aleBof tbe woek bales. 51,000 47,500 -47,500 44,000 Indian corn was active, and early in the week prices were Sales American 41,.')()0 a!t,o00 38.500 33.500 Of which exporters took 3,'JOO 3,600 4,100 3,100 quite firm; but under the prospect of more liberal supplies Of which Mi>oculaturs took.. :),700 2,700 1,130 1,.580 prices have recently shown depression. To-day the Actual ex port 3.200 4,900 4,000 3,.500 market Forwarded 17,000 11,500 l.'),500 19,500 was dull ; No. 2 mixed, 57Mc. for April and 54%c. for May. Total «ti)ck— Kstiinated 711.000 728,000 786,000 849,000 Of which American—EstimM 537,1)00 5.'>2,0O0 5»<»,000 653,000 Eye has been dull, and closes with prices barely sustained. iuij)ort ti2. Apr.-May 1 e'ls Aug.-Sept 61333<}:% July-Aug 65i, May-June Mar.-Apr file 1881. 1880. 1879. 1878. 6>i | Mar 61a 1,834,306 1,203,524 1,381,346 Thcbsdat. PiauT.. ..bbls. 1,329,075 June-July.. .6>4 63I32 NoT.-Deo Sept.-Oct 63i8 Vbeat bush. 7,615,435 9,162,617 13,631.397 11.980,409 JulyAng . SS-is May-June 63; j Mar 6332 Oom 16,099,042 28,449,793 16,114,652 12,871,665 ". 1I32 Attg.-Sept . . '. 63^* Mar.-Apr 5332 June-July 6^32 Oats 6,270,952 4,493,985 4,749,650 4,129,992 'Mar -618 Apr.-May 6J8 Aug.-Sept 66,. Barley 2,386,708 1,.545,107 1,551,815 1,903,021 Mar.-Apr .61a July-Aug 6832 Oot.-Nov 6133 Bye 419,935 536,029 663,966 690,803 Friday. Apr.-May Total grain.... 32,793,072 41,187,561 36,716,480 31,646,88 6332 I Aug.-8ept Mar.-Apr May-Juno GSis G'sa 6&32 | 8ept.-0ct May-June eSjg JuneJuly 6»,a receipts 6732 I Nov.-Dec ei'is July-Aug Comparative (crop movement) at same ports from Jttly-Aug 6832 '...avi Aug. 1 to March 19, biclusive, for four years: 1880-81 1879-80. 1878-79. 1877-78. Flour. .bbU. 5,493,438 4,402,275 4,232,702 4,101,469 Wheat basil. 60,812,278 67,458,650 69.720,261 65,466,700 BREADSTUPPS. Com 76,887,950 70,140.323 56,182,017 47,961,281 Friday, Oats 27.406,457 17,917,240 21,610.632 16,611,539 P. M., March 25, 1881. 10,274„530 9,397,851 8,593.591 There Barley 8,381,881 have been no new features to the flour trade of the Rye 2,881,741 3,358,715 1,625,300 2,687,620 past week, and the changes in prices as compared with last Total grain.... 178,262,956 168,272,779 157,731.840 131,089,021 Friday are unimportant. The low grades have been some- what Comparative shipments of flour and grain from the same irregular, an advance in superflnes and in low extras to March 19, inclusive, for four years: being ports from Dec. 27 the most conspicuous change. The export demand has 1881. 1880. 1879. 1878. been fair but the ; home trade is still slow. There are deflcien- Flour bbls. 1,702,369 968,610 1,432,144 1.340,571 oies in stocks and assortments, owing to the detention of sup- Wheat bush. 3.467,635 3,317,008 6,408,527 10,393.662 pUas by frequent snow storms at the West. To-day the market Oom 10,566.316 15.405,861 8,394,724 9.103,160 2,865,351 3,183.857 2,532,088 was dull and closed Oats 5,549,673 weak. Barley 1,356.875 807,423 1,102,149 1,083.866 The wheat 536,572 395,316 315,604 415.805 market has been moderately active. Prices have Bye »aned considerably from day to day, and even on the same Total grain 21,177,071 22.790.961 19,404,861 23,528,58j : : . . ; ,^?3 344 THE (CHRONICLE. [Vol* XXXBU condition of the cotton Bail shipraenta from Western lake and river porta for the unsettled goods market, and there was freeks ended an utter absence of the speculative tendency noticed about this 1878. 1881. 1880. 1879. time last year. There has been a comparatively light demand for ^Yeelc Week Week Week Mar. 19. Unr. 20. Uar. 22. Mar. 23. domestic and foreign fabrics at first hands, save in the case of 113,154 99,392 143,719 81.102 Jfloar bbls. staple cotton goods and prints, in which some large transactions imeat bush. 3C7,&20 032.678 770,978 497,750 were accomplished by means of lower prices. Importers con- Oom l,63-.,608 2,234,687 1,009,801 l,032,o.')2 Oats 409,290 351.439 449.114 208,2)7 tinued to seek the auction rooms as an outlet for surplus slockB 70,207 73,611 100.321 41,107 Barley of silks, dress goods, &c., and the sales were generally well Eye 76.387 30,132 41,778 51,213 attended ; but the prices realized were not very satisfactory as Total 2,549,402 3,091,530 2.371,995 1,830,874 a rule. same portsfor last four weeks: Bail and lake ahipmenta from Domestic Cotton Gtoods.—^The exports of cotton goods from Btrley, li'/e, Week Flour, Wheal, Oom, Ortts, this port during the week ending March 22 aggregated 2,537 ending— bbls. bush. blUill. btish. biiih. bti-th. : Britain Mar. 19. ..113,154 561,272 2,023,102 452.785 70.207 76.387 packages, shipped as follows China, 1,126 ; Great 12. ..113,906 239,144 9;ili,375 336.077 47.733 30.222 Mar. 363 ; Brazil, 271 ; U. S. of Colombia, 212 ; Venezuela, 137 Mar. S... 139.813 207,297 862.1115 368.926 88,478 37.512 28.157 PeU. 26... 112,633 223.515 701.914 451,499 79,162 Hayti, 131 ; etc. As foreshadowed in last report there ha«^ been a break in the cotton goods market, extending to many Tot., 4 wk8.509.595 1,231.253 4.643,837 1,609.287 28.">,580 172.278 4 w'ka '80.. 421,949 1,739,753 7,583,251 1,151,891 297,076 120,903 makes of brown, bleached and colored cottons (on which a reduction of from 5 to 1% per cent has been made by manufac- Keoeipts of flour and grain at seaboard ports for the week turers' gents) and this has induced package buyers to operate •uded March 19: rather more frefely ; but the general demand was by no means IZour, Wheat, Corn, Oats, Barley, Rye, At— bbls. bush. bush, bush. bush. bush. as spirited as might have been expected. Heavy standard Hew York 123.138 585,426 537,930 179,590 sold (for ..'. \ slieetings and drills are so largely ahead export) that Boston 50..iS0 31,02i 223.922 89,950 39 800 . Portland 6,787 16,000 12.009 3,100 prices remain unchanged, and fine bleached cottons are in such « Montreal 4.932 3,350 5,720 2.350 not participated in the decline. PliiladelpUla 19.405 153,000 462,000 30,350 13,800 500 meagre supply that they have Baltimore 19.337 443,500 711,100 9,300 5,000 Print cloths were in good demand and dearer (because of Hew Orleans 12,297 91,297 371,898 5,230 renewal rumors regarding a probable strike at Fall River) Total week 211,502 1,324.693 2.373,859 323,640 76,050 24,204 closing at 4c. for 64x64s and 3 7-16@3;5^o. for 56x60s. Print* Oor. week '80... 163,317 911,877 3,263,301 467,260 41,936 20,329 and lawns were in moderate demand, and ginghams remain Total receipts at same ports from Dee. 27 io March 19, inclu- active and firm. years sive, for four DoMBSTic Woolen Goods.—There was a sluggish demand for 1830. 1879. 1878. 1881. most descriptions of men's-wear woolens at agents' hands, and Rout bbls. 2,813,123 1,932,723 2,234,503 1,939.418 in spite of the relatively low prices at which heavy-weight Wheat... ..bosb. 10,391,957 8.090,203 17,096.859 15,042.817 fabiics have been opened, buyers are seemingly holding olf in 21.213.473 20.649,283 21,173,337 Oom. ... 15,674,531 the endeavor to get concessions from ruling rates. Orders for Oats 4,722,370 3.921,432 3,615,377 3,029,057 Barley.. 1,183.394 1,133.212 1,054,769 1,032,016 heavy-weight cas.simeres, suitings, worsted.coatings and plaid- Bye 385,810 223,853 532,863 627,804 back overcoatings were placed to a moderate amount by the 41,359,021 " snap the Total grain . 32,333,062 37,512,180 42,979,149 clothing trade ; but there was no " to demand. Spring cassimeres were disposed of in fair parcels, by means of Exports from United States seaboard ports and from Montreal for week ending March 19, 1881: low prices, and a large line of spring-weight worst«ds (made bj Mnur, Wlieat, Oom, Oats, Bye, Peas, the Florence Mill) were closed out through a leading auction — bbls. bush. bush. bush. bt'tsh, bush, From Kentucky jeans ruled quiet, but there was a steady Hew York 125,475 1,127.823 836,4.37 3,.549 17,102 3,123 house. Boston 15,071 27.496 110,910 35 demand for heavy satinets. For flannels and blankets the Portland 6,787 16,000 27,463 Montreal demand was governed by actual wants, and worsted dress goods 400 PhUadelpUia. . 8,590 332,231 316.263 and shawls were in light request by package buyers. Baltimore 17,317 603,873 716,775 1,210 Hew Orleans.- 'ili3 231,533 Foreign Dry Goods were jobbed in considerable quantities, Total for w'k 174.133 2.107.448 2.311,942 5,191 17.102 30.590 but the demand at first hands was comparatively small in Same time '80. 95,831 1,999,609 2,271,676 2,454 4,116 18,1^1 volume. Black and colored cashmeres were quiet with The visible supply of grain, eoinprisiag the stoeks in granary importers, and prices are depressed by the excessive supply on at lake at the principal points of accumulation aud seaboard hand. Silks were sluggish, and inferior grades are selling at ports, aud in transit by rail and on canal frozen in, March 19, very unsatisfactory figures. Linens and white goods have 1881: Wheat, Corn, Oals, Barley, Bye, moved steadily in small lots, and prices are fairly maintained. bush. bush. bush. bush. bush. In store at— moderately active, and there was a fair call for Hew York 1,407,206 433,853 509,839 173,638 31,087 Laces were Do. afloat (est.) 50.000 12.5,000 100.000 Hamburg embroideries, hosiery and gloves by jobbers and Albany 122,000 17,.!i00 118,000 210,000 71.500 Buffalo 277,761 148.283 6.983 retailers. Chicaso 7.970,296 '4,996.909 1,476,500 238,215 203.535 Importations of JDry Goods. Milwaukee 3,250,863 32.393 37,495 329,876 31.:i57 Dulutli 1,297,000 5,000 The importations of dry goods at this port for the week Toledo 2,109,663 533,586 40,991 8,500 214 ending March 24, 1831, and for the corresponding weeks of Detroit 830,639 7.447 10,408 9.620 Oswego 35.000 80.000 335.000 40.000 1880 and 1879, have been as follows : Bt. Louis 990.824 1,497.512 34.658 14,468 3.246 KKTEKED FOR COSSUMITION FOR TUB WF.EK EKDINO MAR. 24, 1881. Boston (12tb) .... 37.089 108,342 96,375 2.854 l,b26 Toronto 219,731 200 700 266,719 13,132 1879. 1880. 1881. 63,793 15,072 10,904 141 8,463 MontTRal Value. Philadelphia 649.115 169,418 164,855 Pktis. Yalue. Pkos. Yaln«. Pkgs. Peoria 83.790 81,577 123,123 1,285 6,333 Manufactures ol- * Indianapolis 282.700 86,400 134,400 5,800 Wool 799 322,932 1,128 459.686 615 282,931 Kansas City 201.824 79,532 70,339 293 Cotton 1.567 434,259 1,800 546,951 1,405 438,215 Baltimore 1,003,945 529,413 8Uk 801 559,220 1,115 738,463 753 487,089 Down Mississippi. 193.523 397,794 43,505 Flax 1,503 327,426 1,897 406,372 1,333 246,174 OnraU...- 543,920 1,950.808 517.780 78,607 83.987 Uisoellaueous.. 4,592 168.316 992 269,596 1.0.50 210,390 Canal and river.. 1,328,282 4,050,435 76,669 380,000 16,430 Total 9.330 1,833,3331 6,933 3,421,068 3,146 1,664,808 WrrUDBAWN FBOM WABBU0U9B AND THROWN INTO IHB MAJULET SUB- Tot. Mar.l9, '81 22,907,003 15,103.306 3,518.541 2.321,281 620.091 INO THE SAMB PERIOD. Mar. 12, '81 23.383.090 14,737,951 3,464,688 2,462,049 656.691 Mar. 5, '81 24,356,235 15,662,738 3.408.451 2.868.123 703,652 Manufactures of— Feb. 26. '31 23,748.690 15,511.23 4 3.427,506 3.036.710 767,919 Wool 369 151.031 314 121,453 549 216,837 Feb. 19, "81 26.403,003 15,391.993 3.433,099 3,083,724 700.972 181 54,063 153 37,161 310 111,891 Mar. 20, '80 25,864,237 15,599,038 2,914,671 2,638,464 775,281 Silk 98 83,489 98 85,198 150 114,891 Flax 411 ,66,399 483 103,713 610 158,175 Miscellaneoos 4,200 83.052 2,209 3^,535 8.068 73.492 • Inoladisg 645,443 bushels afloat. Total 5,363 453,033 3,257 385.06O 9,717 675, -.iSB Ent'd foroonaiunpt. 9.323 1,832.353 6,932 2.421.06^ 5.1 4rt 1.664.808 Total on market . . 14.587 3.2;»0.386ll0.1»y 3.B06.13» 14.863 2,340,094 THE DRY »O0D3 TRADE, ENTERED FOB WARBUOCSE DCBINO SAMB FUBIOD, Manufactures ol— Fridat, p. M., March 25, 1881, Wool 395 165,930 255 101,903 406 160,519 1'20 '' ...... 172 40,452 113 29,061 36,439 The dry goods jobbing trade has continued fairly active CTotton Bilk 133 123,501 110 93,310 138 100,149 during the past week, more favorable weather having given an 317 69,049 413 100,968 368 53,568 Miscellaneous 132 36,245 2.115 60,036 699 91,978 impulse to the demand for many spring and summer fabrics 1.16U 433,307 3.006J 333.30:< 1,739 443,703 that have hitherto been quiet. There was, however, a good Ent'd forooasumpt. 9.333 1,833,35;) 6.933 2.421.01)8 8.1 1 61 1,604.808 3,806,376 (i,i« zai 3.1 07,31 i deal of caution on the part of retail buyers, owing partly to the Total at the port... 10,494 3,267,56ul 9,938 : — 1 MABcn 86, 1381.] THE CHRONICLE. Financial. Financial. Fiaanciai. 1>BPORT OF THR OONDITIOIV OF JVtho AMBIUCAN EXCHANdK NATIONAL BANK, at Now York, In tho SUto of New York, at THKO. V. SASD ..*AX E. 8AWD. JOHN SiCKILg. The Brooklyn Trust Co. the close uf bualnesB, March 11. 1881; jEdward a. Pbtit, Member JJ. T. atook Kxch. UB»OUliCBH. Cor.of MontdKue & ainton sts., Brooklyn, N. T. Lo.1nB and discounts |IS,733.SR3 2T Ovcidrafls S.OliS 45 Sand Brothers & Co., This Company Is antboriied by ipeclal charter to act II. H. l)oi.d«on hand 605,000 00 as receiver, trustee, guardian, executor, or ad. OLbor tiluck», bunds and morti^ageB 3d,H18 29 BANKEItS AND BROKERS, mlnlstrator. Due from other national banks 940.420 63 It can act as urent In the sale or management of Due from 8tato banks and batikers 15<>.0'24 2ti real estate, ooflect Interest S4 l¥all Street, or dividends, receive Real estate, furniture and llitures S48,H18 81 New York. rettistry and transfer books, or make purcliase ^^and Current expenses and tajces paid 91,304 84 sale of Oovernment and other securities. Premiums paid I:ll 25 STOCKS AND BONDS BOUGHT AND SOLD OH ItellKlous and charitable hut Itutlons, and persons Checks and other east] items 185,540 88 unaccustomed to tho tra^^acllon of business. wUI Uzcbangcs fur Clearing House 3,3Kii,hihi 1 COMMISSION. nno tnis Company a safe and convenient deoosttorr BUls of other banks 108,414 00 for money. K'l'l'KV Uopbh, Presldoni; Specie S,3(i7,ino (IB COMMERCIAL PAPER NBOOraATED. C1IA8. K. MAliViN, Vloe-Pres't. liOgal-tender notes 0^1,000 00 TRUSTKKS: Due from U. 8. Treasurer (other than 6 per cent redemption fund) .13,000 00 I1>BNEST GBOBSBECK, OBANT B. SCHLZT, John I'. Itolfe, Chas. ll.MarvIn, A. A. I.OW Total $28,428,907 27 Members N. V. Stock Kxobanite u t- K""""»"i *,>'>".•,'?/•""'""• "<""-y K.SheMos, LIABILITIKS. H. K. nerrepont. Dan'l Chauncrey, John T. Martin, Alex. Oapltal stock paid In tS.OOO.OOO 00 M. White, Joslah O. Low, Uiulei- KoDOS Borplus fund 1.250,000 00 Austin Corblu. Edmund W. Corlles Undivided profits 412,878 00 Groesbeck & Schley, WM. H. BUNKER, Secretary. Blatu Uiuik notes uutsianding 6,817 00 Dividends unpaid 0.621 50 Individual deposits subject to otaeok.. 9,TG0,:I2S 01 BROKERS, A. H. Brown & Co., Uumand certificates of deposit 89,494 78 OertlHod checks 2,0n6„372 97 No 1.1 WALTj BANKERS AND BROKERS, Duo to other national banks 8,271,943 12 street, new YORK. Dae to 8tato bunks and bankers 1,591,606 88 7 TTall St., Cor. NetV, New York. Total 123.428,907 ST H. Latham & Co., INVESTMENT SECURITIES. Btateof New York, (;tty and Countyof New York, ss ,• J. Special attention to 1, UlTMONT d, A iiKB, Cashier of the above-named business of country banks. bank, do solemnly swoai' tliat the above statement IMVESTMEXT SECURITIES, to true to the best of my knowiedee and belief. ESTABLISHED DUMONT CLAKKK, Cashier. Now Jork City, CIiIcrho. Cincinnati, St. Bubsorlbed and sworn to before me this loth day Louis, DiHirlet of C'uliiinbla, and 1864. •r March, 1881. Goveruiaeut (Srcurities. A. a. KoDOBUS. Notary Public. FOREION EXCHANGE. Oorreot—Attest Coleman Benedict 52 WILLIAM & Co. GKO. S. COB, ) STREET. No. 2i BROAD ST., GBORGK BLISS, f Directors. J. H. LATHAM. F. W. Pkrrt. NEW YORK, 8. D. BABCUCK, S Joseph P. Lloyd. w. C. McKilan, STOCKS AND BONDS, VKPORT OP THB CONDITIOIV OF Member of N. Y. Stock Kxch'ge MEMBERS JAt.heTHlKDNATIO.NAL DANK of the City of OF THE N. Y STOCK EXCHANGH, Mew York, In the State of New York, at the close A strictly commission business conducted In the Of business on the 11th day of : Lloyd March, ISbl 5c McKean, purchase and sale otocks and Bonds on MarslS KKSOUltCKS. or for Investment. Loans and discounts $5,134, 094 31 34 -nrALL STREET, NEW YORK.' Complete financial Report issued weekly to nnr Ovenlrafts 500 53 correspondents. D. 8. bonds to secure circulation 60,010 00 Buy and sell— on commission—Government, Rail- Other stocks, bonds and mortgaKes 98.791 85 way and Miscellaneous Duo from oilier national banks 3.W,099 06 Securities. Receive deposits Due from Slate banks subject to check, and allow interest balances. and bunkers 335.018 1.1 on STOCKS and BONDS Current cvpcnsea and taxes paid 40.816 27 Bxohanges for Clearing House 1,3^1,862 08 Blllaof other banks 12 000 00 N. T. Beers, At Auction. Fractional currency (Incl'dini; nickels) 2.023 01 Jr., Bpeole (InchidinE Kold Treasury otfs.). 1,497,080 00 Tke Undersigned hold Leital-tender notes Itt0,o:^8 00 REOUr.AR AUCTION Redemption fund with U. 8. Treasurer 826 00 BROOKLYN SECURITIES, CITY BONDS, SALES of aU cUisses of Due from 0. 8. Treasurer 123 00 Gas Stocks, ice,. STOCKS AND Total $9,018,774 94 BONDS LIABIUTIES. OS No. 1 Oftpltal stock paid in $1,000,000 00 NEW STREET, WEDNESDAYS ANI» SATURDAYS. Borplus fund 200,000 00 Other undivided proBts 84.958 87 NEW YORK. ADRIAxN H. ailJL.I.BR Individual deposits subject to check.. 2,007,563 38 & SON Demand certificates of deposit 20,707 66 No. 7 PINE STREET, Oertlfied chocks 766,583 26 C. L Hudson & Co., NEW YORK. Qubler's checks outstanding 848,939 75 Georqe Due to other national banks 3,934,: 81 29 3 EXCHANGE COVHT, NEW YORK, Stark. John F. Star*; Due to State banks and bankers 714,493 25 Branch Office and Private Wire at the "Cumberland," Broadway and 22i Street. „ Total $9,018,774 94 George Stark & Co., State of New York, Buy and sell on commission, for Investment or on County of New York, ss : WILI.I.A.M margin, all securities dealt In at the New Tork 1, A. Booth, President of the above- Stock BAAKERS, named bank, do solemnly swear that the above Ifijccbange. atatement is true to tho best of my knowledge and B. R. Lbar. C. I. Hudson, T. H Curtis, No. 42 BROADWAY, NEW YORK. belief, WM. A. BOOTH. President. Member N.Y. Stock Exch. Subscribed and sworn to before me this 18lh day of Buy and sell Investment Securities for cash or on March, 18al. Tqomas Cowan, Cerreol— commission. A specialty mado of Western Farm Attest ; Notary Pnhiic, N. Y. Countr Vernam & Company, 0HARLK8 LANIER.) Mortgages bearing from 7 to 10 per cent Interest. GEO. CHAPMAN, ^Directors. Will undertake the negotiation of loans O. N. JORDAN. BANKERS AND BROKERS, upon 5 Western City property In large or smidl amounts. No. 34 New? Street, Ne-nr York. R. T. Wilson Co., Buy and Sell Stocks, Bonds & and Qovemments os Schulz & Ruckgaber, BANKERS AND COMMISSION MBKCHAlfTa, Commission, either for investment or on marKln. iCxcliange Albert H. Veunam, Edwakd N. Bond. BANKERS, 2 aoart, N ew York. Member T. N. Stock Kxchooge. 22 IfUIiam Street, New Yoirk. WM. L. BREE8B, WM. p. smith.' correspondents of tuk Wood & Davis, Members of ^ ^^^ New Tork Stock Exchange. Interuationai Bunk of lion.Liu (Ijinilted}. BANKERS AND BROKERS, JiOudon. Breese & Smith, mcBsrs. John Bcrcnberic, Uessler Ac Co,. 31 Pine Street, New York. Hnmbnrsr. eOVEBNMENT BONpS, MUNICIPAL AND BROKERS, Commercial and Traveler; ' THE (mHONlCLE. Vou xxxu Financial. Financial. Insurance. Geo. H. Prentiss, Buttrick & Elliman, BANKERS AND BROKERS, OFFICEIOF THE 10 BEOAD STREET, NEW YORK. Nos. 37 Sc 39 IVall St, New York. CAS STOCKS BONDS, STOCKS and IN VKSTMKNT SKCURITIK8 AND BOUGHT AND SOLD uN COMMISSION. ATLANTIC C. A . BuTTBICK, Member of the N. Y. Stock Kxch 'ge GAS SECURITIES, Wm. Elliuan. Member of the N.Y. Mining Excb'ge BTREET RAILROAD STOCKS AND BOND* Gilman, Son Co., Mutual Insurance Co., AND ALL KINDS Or & BANKERS, BROOKLYN SECURITIES B2 CEDAR STREET. NEW YORK, January 25, 1881. DEALT IN. The Trustees, in conformity to the Charter of In addition to a General Banking Business, bus the Company, submit tho following Statement SEE GAS QUOTATIONS IN THIS PAPBB and sell GoTernment Bonds and InveatmeDt Securi- of its affairs on the Slst ties. December, 1880 Premiums on Marine Risks from .\ Fred H. Smith, 1st January, 1880, to Slst De- , Ho.JUfCs cember, 1880 $4,232,075 04 BANKER ANB BROKER, Premiums on Policies not marked No. 13 BROAD STREET. XEW YORK. off let January, 1880 1,495,947 23 RAILROAD SECURITIES Total Marine Premiums $5,728,622 27 C^ Co. (An Intimate knowledge of all for the past 10 Year A SPECIALTY. ANKERS. Premiums marked off from Ist Investors or Dealers wishing to bay or sell are \,\a January, 1880 to 31st Decem- N u , 8 xf K street, invited to communicate. State. Municipal and Newr York. Railway Rends and Coupons bought and sold at best ber, 1880 $4,141,087 80 Market Rates. Transact a General BanklnR Business, lnclullln(j tie purchase and sale of STOCKS and BONDS for Losses paid during the same or on margin. oisli Hickling & Co., period $2,071,238 98 InTertment Secnrltles. Bnr 1881. ni March 26, | THE (mRONKlLE Insurance. Commercial Cards. Cotten. HOME E.R.Mudge,Sawyer&Co Uenut H. Wabi. 0ltXlA7 SOBBOBOBB AORNTS FOR IVaahlnKton millH, Chlcopee ItirK. Co. Ware & Schroeder, Insurance Company Burlln!;t»n 'Woolen Co., OF NEW YORK, Ellerton New niilla, COTTON COMMISSIO.N MERCHANTS, OFFICE, 119 BROADWAY. Atlantic Cotton nillla Saratoga Victory ITHt;. Co., Ocean IHlila 'Finy-Finh Seml-annnal Statement, A.Nl) 111 Pearl Street, New York. BHOWINO THE floalerr, Sbirta and Drawers trom Various Mills. OOWDITION OF TUK COMPANT ON THE FIRST NEW YORK, BOSTON, Special attention paid to the ezocutlon of ordan DAT OF JANUARY, 1881. 43 A 45 WUITK HTltEET, 16 CHAUNCEY STUBXT or the purchase or sale of contracts for futare de- CASH CAPITAL $3,000,000 00 PHILADBLPHIA. J. W. DAYTON. 280 CHIBTNUT STREET. Kencrve for Unearned Preiulums 1,031,273 00 ll rery of cotton. Liberal adrances mad* oo eon " Beserve for Unpaid Lesses 28ii,986 16 Works at Outent, L. 1„ and Bitrkka" Richmond, Va, "Orient. sIgnmentB. Net Surplus 1,639,245 98 WU. MUHB. H. W.UAIIIMANK. CaghAgseto $6,800,505 14 Wright, Bliss & Fabyan, CLEMBIS FISCBUI SCiniTIARY OF ASSETS Held In tha United Statea. available for the PAY- New York, Boston, Philadelphia, Mohr, Hanemann & Co., MENT of LOSSES by KlUB and for the protBO- tlon of Pollcy-UoMera of FIUK INSUUANCB: SELLING AGENTS FOR LEADING BRANDS CMh In Hanks 1838,111) 67 Bonds and niortfeaeea.belnR first Hen on BROWN AND COTTON BROKERS, real estate (worth »4.2e6,ftS0) 1,8)11,808 00 BLEACHED HRIRTINGS United States stocks (market value) — S.WW.OOO 00 AND SHEETINGS, Bank and railroad stocks (market value) 407.4-12 &0 138 PBAHI. STREET, State and municipal b'ds (market value) 11^2,700 00 PRINTS, DENI.M8, TICKS, DUCKS, Cotton. Cotton. Cotton. i LIHHA.S, A ZBAHIH & CO., LXHXAK, DUBB & CO. Woodward & Stillman, hew Orleans, La. Montgomery. Ala. SEAMEN'S BANK BUILDING. INMAN,SWANN&Co LEHMAN BRO'S, Nos. T4 & 76 Wall Street, COTTON NEW YORK. Cotton Factors COMMISSION MERCHANTS, AND €)ENEBAL COMMISSION MERCHANTS Cotton Erchange BuUdins, COI>I?IIS8ION niERCHANTS, f.OANS niADB ON ACCEPTABLB 101 Pearl Street, New Tork. 40 EXCHANGE PLACK. SECURITir. New^ York. LOANS lilboral advances made on Conaiffnments. MADE ON Grders ezeeated at the Cotton Exchanges in New York and BpecUU attention paid to the execution of orders ^iierpcal aid advaaces made on Cotton SOUTHERN SECURITIES. and other produce consigned to us, or to our oorre- for tbe purchase or sale of contracts for future spoDdents in Liverpool, Messrs. B. Newgass * Co. detiTery of cotton. aud Messrs L. Rosenheim A Sons. H. V/. ' T. Farley, Insurance. T. C. Carter & Co., & J. COTTON BUYERS. COTTON FACTORS, COMMISSION MERCHANTS. iETNA BIOBILK. ALA. MEBIDIAy, MISS. AND FINANCIAL, JOHN H. CLISBY &. CO., AGENTS Insurance 133 Pearl Street, Company COTTON BUYERS. P. O Box 3,909. New York. OF HARTFORD. MONTGOMERY, A1.A. Advances made on Consignments. Special personal attention to the purchase and sale PtJBOHASE ONLT ON ORDERS. POR A COHMIBS^>N f ' Contracts fog futdke dklivkky of Aasots Jannar/ 1, 1881 $7,424,073 72 COTTON. Liabilltlea for unpaid losses James F. Wenman & Co., and re-lnBurance fund 1,694,80180 COTTON BEOKEES, Geo. Brennecke & Co., Capital 3,000,000 00 H«. 146 Pearl Street, near 'Wall, N. li COTTON BBOKEOS, NETSTTRPLUS $2,729,371 92 Established (in Tontine Building) 1840. No. 110 Pearl Street, New York. No. 3 Cortlandt St., New TeriK. JAS. A. AIiEXANBER, Agent. Robert Murdoch, FUTUBK CONTRACTS A SPKCIAIiTT. COMMISSION MERCHANT, Geo.H.McFadden & Bro North British 111 Pearl Street, Jietv ¥ork. COTTON FACTORS AND COMMISSION MERCHANTS, & Mercantile Ins. Co. Uberal advances on consignments of Cotton for Cliestnat St., OF Bale in New York or Liverpool. Especial attention 121 PUladelpbla. given to Sale and Purchase of Future Contracts, LONDON AND EDINBUROH. both in New York and LIVERPOOL, on reasonable Dennis Perkins & Co., United States Board of Management, tsrms, and profits paid as soon as realized in either COTTON BROKERS, market. 117 Pearl street. New York. NJ:W YORK : Orders for Spot Cottoa and Futures promptly exe SOLON HTJMPEfRKYS, Ch'r'n.fB. D.Morgsn ifc Oo Bennet & Foulke, euted DAVID DOWS, Esq. (David Dows A Co.) B. P. FABBRI, Esq. (UrexeL Morgan &Co.) Hon. S. B. CUITTENDiSN. COMMISSION MERCHANTS, WALTER & KROHN, EZRA WHITE. Esq. J. J. ASCOK, Esq. 31 PEARI. STREET, COTTON RROKERS, CHA8. E, WHITE, SAM. P. BLAGDEN, NEW YORK. MANAGERS, Special attention given to the execution of orders 63 REAVER STREET, NEW^ YORK. Offiee S4 William St., New York. for the purchase or sale of Contracts for Future delivery. E. S. Jemison & Co., Fielding, Gwynn & Co. BANKERS i^ommercial AND COTTON COMMISSION MERCHANTS' COTTON FACTORS No. 10 Old Slip, New York. Union Ins, Ca iOF LONDON), COMMISSION MERCHANTS, MOODT & JEMISON, G&lreston, Texas. Henry Hentz & Co., ALFRED PELL, 140 Pearl street, N. T. GENERAL Jiesideni Manager, ODEL&S. V. HOHORST, JOHN R. BABBim. conmssioN jhercbants, 8 South W^lUiam St., New York. Sr & 39 Wall StrP,^.f C. F. Hohorst & Co., Advances made on Consignments to COTTON niesars. JAMES FIN L. AY & CO., miscellaneous. LIVERPOOL. LONDON AND GLASGOW. COMMISSION MERCHANTS Also execute orders for Merchandise through Whiting Paper Co., No. 135 PEARIi STREET, Steasr*. FINLAY, MCIR & CO., CALCCTTA AND BOMBAY. HOL.YOKE, MASS. We\t ITork. CONTRACTS FOR FUTURE DELIVERY COT- Beeeive Consignments of Cotton and other produce TON bouKht and sold on commission in New York Bankers' Ledger and Becord Papers. IJBBaAL ADVANCES MADB. and Liverpool: also at New Orleans through Messrs. Papers. Bamuel H. Buck & Co. Machine Hand-Made Special attention given to orders for the purchase Antique Parchment Papers. •nd sale of Contracts for Future Delivery of Cotton. Plated Papers, Waldron & Tainter, Bond Papers. P. Billups & Co., GENERAI. COTTON MERCHANI. AGENTS J. 97 PEARL STREET, NEW YORK. JAKIES D. WHIT9IORE & CO., COTTON Futu e " orders executed at N. Y. Cotton Ezch'ge COMMISSION MERCHANTS 45 BKEKMAN 6TKEET. NEW TOEK. Nos. 74 & 76 Wall Street, B.F.BABCOCK&CO. C. CONRAD & CO., IBlAUSK's SArmaa Bank BiriLDiNa,) COMMISSION MERCHANTS, NEW YORK. 17 Water Street, LIVERPOOI,, ST. L.oris. Receive consignments of Cotton and other Produce, Branches in Lkabttlle. Burba Vista and Special attention Ktven to the Purchase and Sale Q,\m' and execute orders at the Exchanges in Liverpool. msoif Ciry, Col.; Da llas and Houston, Tex. • ef Contracts for future delivery of Cotton ; alao Represented in New York at tbe otiice of «xecuto orders lor I'urchase and Sale of Stoclu una Sole Proprietors of the "Original Badwelser." Bonds for Southern account. BABCOCE BROTHERS A CO., Trademark registered i« 1817. 90 Wau. BnusaT. BIJDWE1S£R JLAGBRBEER, H. Tileston & Co., ZN BOTTLES, Geo. Copeland & Co., made from imported Saazer Hops and choice COTTON, STOCKS, | BONDS, &c. Bohemian Barley, universally acknowledged the S8 WILLIAM STREET, NEW YORK. COTTO:!f BROKERS, best and healthiest Beer In the world. Warranted to keep In all climates. Agents wanted in all towns " Futures" Oiders Is executed at N. Y, Cotton Sx«b 13B PEARI. SIREET, NEW YORK. Aak vow Qnar /or Oonrai'i Budweiuer, mM