JjTOtm HUNT'S MERCHANTS' MAGAZINE, REPRBSENMNG THE INDUSTRIAL AND COMMERCIAL INT^ , 0«^'* VOL. 14. THE UNITED STATES NEW YORK, FEBlt'^^RY 10, 1872. NO. 346 !2lbucrtt9cments. WirsrtisainanM will lie Inserted at the following prlCMpertlae tor escti Inserdoa : it ordnred leu than 4 time* W cents per line. " 4tlm«sormoie 16 " 9 • It " IS • a •' »» ' 10 • " il ~ g " It the alvertlsemeit or.capica one ooln'^i Ar up- war l:t, a dUcouat of 15 per cent ou t.i.es« rates w 11 be allOWild. Sn ICQ 19 tneasiirei la agate type. 14 Uoea to tbe Iricb. \ lv<irtls9inont9 will haTe a favorable place whon flrac p It In, but no nromlae of continuous luaertlon In thn best ptHCd can be ^xlveu, aaall advertisers must liave eqnal opportunities. Wn. B. DANA & CO., PUIILISHKBS, W ft 81 Wllllum St., N T, tSf For terms ot Subaoriptlou see SIU page. Commercial Cards. Ross, Roberts & Co, 91 Front Street, fN<?ar Wall.) IM.'OKTERS AND COMMISSION MERCHANTS IN BaKiilnB, Bope, and Iron Ties. Bnj and soil Contrsets for present and future deliv- eries of Cloth. Agents for foilowlnj; batcglutt Mills. BUFFALO, COTTON PLANT, PALMETTO AUD DLiMOSD. —Also — Importers or Bio CoflTee. /'/ Charles G, Johnsen, coaimssioN hiebchiint. Lock Box 381 New Orleant Will purchase XCHANOE, COTTON. BTO. Fartlcniar attention given to Becelvinz ai:d roi wtrdluc Kails. Henry Lawrence & Sons, MANDFACTORBRS OF COROAGK rOB EXPORT AND DOISBSTIO tJSB. l« FRONT 8TRKKT. KKW TORK Gorham Ml'g Company's I Sterling Silver Ware. RBW AND SLSGAlfT DESlQNS At the Old Stand Wo. 3 HAIDEN LANE, NEUT VOBK, JOSEPH BACHIHAN. Financial. WILLIAM T. MEREDITH & CO. S4 EXCHANGE PLACE, NEW YORK, Dealers In RAILROAD «c MVNICIPAI. BONDS. Stocks and Securities Bought and Sold. LOANS AND PAPER NEQOTIATED-INTEREST ALLOWED ON DEPOSIfS. FOOTE & FrpNCH, BANKERS, No. 7 Congress Street, BOSTON. Dealers In tioVL-rument Seci'.rltle8, Gold, State, Coui.ty and Cl'y ond-". al-o STERI.IXO KXCHANQE. drawn by Jay Ci'OKe & Co.. on Jay Cooke, McCulIoch & to., Lon-lim, in Bums nd at dales to »ulc. COMMKRCIAL CliKDITS AND CUtC'LAR LET- l>l:S I'OK TKAVELMili8 SSUKD, available In all pa t^ of Europe. John H. Danifls, BANKER, 'Wilmington, lirill County, Illinois. Collections made and Reml-ted at Current rates. Money luaned for Investors o i ;mprove:l faims at teu per cent l.iterc8t, payable st-ml-aunually. RKFEUE.VCES: At'antlcNaf. Pank.N. T. | Bank of Auburn. N. T. Nat. B'K of Vernon, N. Y. St. t-ii-av'Ks Inst., Chic'a:o i;ayugaCo.Nat.ll'k,N.V. I tate Savys As^.. St. Louis Cook Comity National liaok, Chicago. Winslow, Lanier & Co., BANKERS, 27 PINE STREET, NEW YORK. Receive the accounts ol Interior banks, bankers corporations and Merchants. AgnnU for tbe Bale o( (:lty. County and Rallrotu: Bonds. Issue letteis ol Credit for foreiga trsvot. AtrO. J. BROWX. WAL8TON H. BBOWN. Augustus J. Brown & Son BANKERS, 59 Liberty Street, New Tork. SPECIAL ATTENTION GIVEN TO THE NEGOTIA TION OF BAILBOAD SECI7BITIE8 WX. t. UTLKT. SOWABD B. B^WBK. Utley & BOWEN, BANRKRa AND BHOKGRS. No. 4 UTALI^ STREET, New Tork. Orders for Oovernineals, Gold and Stocks sxecuted tt the usual rates or commissiou. ConsiKometts ot Clovcrnmcnt Bonds and all other Securities solicited, a id prompt returns mado. interest allowed on dally balances, sad subject to draft at sight. Especial attention given to lavfstment Secarities Etate, City and Kaihoad Loans Negotla ed. Whittemore & Co., BANKERS. 3T WILLlAJn ST., NBW^ TOBK. Collections made promptly on all parts of Canada. INTEREST ALLOWED ON DEPOSITS. Financial. BANKING HOUSE OP .^ I - ; Saunders, Hardenbergh & King. n. 112 & 114 BROADDTAY. FbbeuabT !. 1872. AIVIN SAUNDERS (exGoveroor of Nebraska). President State Bank, Nebraska. JOHN A. HARDENBERGH. RICHARD W. KING, member of New York Stock Exchange. We have formed a Copartnership under above style for thi; purpose of transacting a General Banking Business. Loans Negotiated and Advances Made. Government, State, City, County and Railroad Bond, Stocks, and Gold bouglit and sold on Commlsalon. Interest allowed oa uebosits. subject to Sight Dr.ifti. Collections made In any part of the United States or Canada. Duncan, Sherman & Co., No. 1 1 Nassau St., Ne-w York City, ISSUK ClRCt'LAR NOTES AND CIRCULAR I etiers of Credit avallalde and payable in all tl.B PRINCIPAL I ITiK-lOPTIlK WORI^U; «lsj special credits for use In the United States, Canada and iv est Indies. Teleeranhlc Transfers of Money to and li'om Lon don, Paris, ban Francisco. Havana. &c. Current Accounts received on such terms as may be agreed upon. Brown Brothers & Co., NO. £9 WALL STREET, ISSUS Commercial anil Travelers Credits Available In all parts ol the world. [ames Robb, King &Co., BANKERS, St WALL 8TRE K T Issue Letters ot Credit for TraTellers Available In all part of Europe, ete., through CITV BANK, ...... LONDON. HOTTINGCER&CO.. -- . PARIS Also COMMERCIAL CREDITS and DRAFTS on LONDtlN, PAKIS, and SCOTLAND. ADVANt KS made on Cooslenments. STOCKS an4 B()Nl>el bOHKbt and sold on Commission. Jacob R. Shipherd & Co, BANKEBS. NEW TOBK, 24 Pine Street, CHICAGO, 104 22d Street, PBANKFOBT, 30 Gro. Bocken. belmer Str. BsTliir now established our own hotise la GBR MANY, with unsurpassed Connections tbrougbon in Europe, wo shall make a Leading Specialty ol tbo Negotiation of First-Class LARGE LOANS, , , Terms upon application, _ l^™
32
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February 10, 1872, Vol. 14, No. 346 - St. Louis Fed · JjTOtm HUNT'SMERCHANTS'MAGAZINE, REPRBSENMNGTHEINDUSTRIALANDCOMMERCIALINT^ 0«^'* VOL.14. THEUNITEDSTATES NEWYORK,FEBlt'^^RY10,1872.
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JjTOtmHUNT'S MERCHANTS' MAGAZINE,
REPRBSENMNG THE INDUSTRIAL AND COMMERCIAL INT^
,
0«^'*
VOL. 14.
THE UNITED STATES
NEW YORK, FEBlt'^^RY 10, 1872. NO. 346
!2lbucrtt9cments.
WirsrtisainanM will lie Inserted at the followingprlCMpertlae tor escti Inserdoa :
it ordnred leu than 4 time* W cents per line." 4tlm«sormoie 16 "
9 • It" IS • a •'
»» ' 10 •
" il ~ g "
It the alvertlsemeit or.capica one ooln'^i Ar up-war l:t, a dUcouat of 15 per cent ou t.i.es« rates w 11 beallOWild.
Sn ICQ 19 tneasiirei la agate type. 14 Uoea to tbeIricb.
\ lv<irtls9inont9 will haTe a favorable place whonflrac p It In, but no nromlae of continuous luaertlon Inthn best ptHCd can be ^xlveu, aaall advertisers mustliave eqnal opportunities.
Wn. B. DANA & CO.,PUIILISHKBS,
W ft 81 Wllllum St., N T,
tSf For terms ot Subaoriptlou seeSIU page.
Commercial Cards.
Ross, Roberts & Co,91 Front Street,
fN<?ar Wall.)
IM.'OKTERS AND COMMISSION MERCHANTS IN
BaKiilnB, Bope,and
Iron Ties.
Bnj and soil Contrsets for present and future deliv-eries of Cloth. Agents for foilowlnj; batcglutt Mills.
BUFFALO, COTTON PLANT, PALMETTOAUD DLiMOSD.
—Also—Importers or Bio CoflTee.
/'/
Charles G, Johnsen,coaimssioN hiebchiint.
Lock Box 381 New OrleantWill purchase
XCHANOE, COTTON. BTO.Fartlcniar attention given to Becelvinz ai:d roi
wtrdluc Kails.
Henry Lawrence & Sons,
MANDFACTORBRS OF COROAGK
rOB EXPORT AND DOISBSTIO tJSB.
l« FRONT 8TRKKT. KKW TORK
Gorham Ml'g Company's
I
Sterling Silver Ware.RBW AND SLSGAlfT DESlQNS
At the Old Stand
Wo. 3 HAIDEN LANE, NEUT VOBK,JOSEPH BACHIHAN.
Financial.
WILLIAM T. MEREDITH & CO.
S4 EXCHANGE PLACE, NEW YORK,
Dealers InRAILROAD «c MVNICIPAI. BONDS.
Stocks and Securities Bought and Sold.
LOANS AND PAPER NEQOTIATED-INTERESTALLOWED ON DEPOSIfS.
FOOTE & FrpNCH,BANKERS,
No. 7 Congress Street, BOSTON.Dealers In tioVL-rument Seci'.rltle8, Gold, State,
Coui.ty and Cl'y ond-". al-oSTERI.IXO KXCHANQE.
drawn by Jay Ci'OKe & Co.. on Jay Cooke, McCulIoch& to., Lon-lim, in Bums nd at dales to »ulc.COMMKRCIAL CliKDITS AND CUtC'LAR LET-
l>l:S I'OK TKAVELMili8 SSUKD,available In all pa t^ of Europe.
John H. Danifls,BANKER,
'Wilmington, lirill County, Illinois.
Collections made and Reml-ted at Current rates.Money luaned for Investors o i ;mprove:l faims at teuper cent l.iterc8t, payable st-ml-aunually.
RKFEUE.VCES:At'antlcNaf. Pank.N. T.
|Bank of Auburn. N. T.
Nat. B'K of Vernon, N. Y. St. t-ii-av'Ks Inst., Chic'a:oi;ayugaCo.Nat.ll'k,N.V. I tate Savys As^.. St. Louis
Cook Comity National liaok, Chicago.
Winslow, Lanier & Co.,BANKERS,
27 PINE STREET, NEW YORK.
Receive the accounts ol Interior banks, bankerscorporations and Merchants.
AgnnU for tbe Bale o( (:lty. County and Rallrotu:
Bonds. Issue letteis ol Credit for foreiga trsvot.
AtrO. J. BROWX. WAL8TON H. BBOWN.
AugustusJ.Brown & Son
BANKERS,59 Liberty Street, New Tork.
SPECIAL ATTENTION GIVEN TO THE NEGOTIATION OF
BAILBOAD SECI7BITIE8
WX. t. UTLKT. SOWABD B. B^WBK.
Utley & BOWEN,BANRKRa AND BHOKGRS.
No. 4 UTALI^ STREET, New Tork.
Orders for Oovernineals, Gold and Stocks sxecutedtt the usual rates or commissiou.
ConsiKometts ot Clovcrnmcnt Bonds and all otherSecurities solicited, a id prompt returns mado.interest allowed on dally balances, sad subject to
draft at sight.
Especial attention given to lavfstment SecaritiesEtate, City and Kaihoad Loans Negotla ed.
Whittemore & Co.,BANKERS.
3T WILLlAJn ST., NBW^ TOBK.
Collections made promptly on all parts of Canada.
INTEREST ALLOWED ON DEPOSITS.
Financial.
BANKING HOUSEOP .^ I -
;
Saunders,
Hardenbergh
& King.
n.
112 & 114 BROADDTAY.
FbbeuabT !. 1872.
AIVIN SAUNDERS (exGoveroor of Nebraska).President State Bank, Nebraska.JOHN A. HARDENBERGH.RICHARD W. KING, member of New York Stock
Exchange.
We have formed a Copartnership under above stylefor thi; purpose of transacting a
General Banking Business.Loans Negotiated and Advances Made.Government, State, City, County and Railroad Bond,
Stocks, and Gold bouglit and sold on Commlsalon.Interest allowed oa uebosits. subject to Sight
Dr.ifti.Collections made In any part of the United States
or Canada.
Duncan, Sherman & Co.,No. 1 1 Nassau St., Ne-w York City,
ISSUK ClRCt'LAR NOTES AND CIRCULARI etiers of Credit avallalde and payable in all tl.BPRINCIPAL I ITiK-lOPTIlK WORI^U; «lsj specialcredits for use In the United States, Canada and iv estIndies.
Teleeranhlc Transfers of Money to and li'om London, Paris, ban Francisco. Havana. &c.
Current Accounts received on such terms as may beagreed upon.
Brown Brothers & Co.,NO. £9 WALL STREET,
ISSUS
Commercial anil Travelers CreditsAvailable In all parts ol the world.
[ames Robb, King &Co.,BANKERS,
St WALL 8TRE K T
Issue Letters ot Credit for TraTellers
Available In all part of Europe, ete., through
CITV BANK, ...... LONDON.HOTTINGCER&CO.. - - . PARISAlso COMMERCIAL CREDITS and DRAFTS on
LONDtlN, PAKIS, and SCOTLAND.ADVANt KS made on Cooslenments. STOCKS an4
B()Nl>el bOHKbt and sold on Commission.
Jacob R. Shipherd & Co,BANKEBS.
NEW TOBK, 24 Pine Street,
CHICAGO, 104 22d Street,
PBANKFOBT, 30 Gro. Bocken.belmer Str.
BsTliir now established our own hotise la GBR
MANY, with unsurpassed Connections tbrougbon
in Europe, wo shall make a Leading Specialty ol tbo
Negotiation of First-Class
LARGE LOANS,, ,
Terms upon application, _ l^™
170 THE CHRONICLE. [February 10, 1871
Foreign Exchange.
Walker, Andrews 6c Co.
^o. 14 WaJI Street, NEW TTORK.
Andrews & Co.,KO. 10 PI.ACE VENDOME, PABIS.Bonas, stocks and gold booght an.l sol J on commts
"rntvelere' an-I CommcrcJal Credits tosued.
Loan^ ;;ceotiatefl.,^ . , , „.
Monfy received on deposit at Interest.
Exctinge drawn on the Paris house and on
UKIOK BANK OF LONDON
Morton, Bliss& Co.,
Bankers, 30 Broad St., N. Y.
Issue Circular Notes and Letters of
Credit for Travelers; also Commer-
cial Credits available in all parts of
the World.
Negotiate First-Class Railway, City
and State Loans ; Make Telegraphic
Transfers of Money ; Allow Interest
on Deposits, and draw Exchange on
Morton, Rose & Co., London.
HOTTINGUER & Co., - - PaRIS.
Hope & Co., - - - Amsterdam.
Agency of theBANK OF BRITISH NORTH
AMERICA,48 AVall street.
Commercial Credits issued for use In Knrope, ChinaJapan, \tie East nnd West Indies, and South Americaalso Clrcalar Letters of Credit I'or Travelers availa-ble in all parts of the "World.Demana and Time Itills of Exchange, payable in
London and elsewhere bought and sold at currentrates, also oablf Transfers.Deniand Drat's on Scotland and Trclaod, also on
Cnnaua, British (^ulmnbia and San FrHnclsco. BillsCollected, and other Hankine business transacted.
JOHN PATOJJ, (Ao-entj., APCH. McKINI.AT.l-^Kflts.
Bowles Brothers & Co.,PARIS, I.ONDON, BOSTON.
19 WILLIAM STREET, N. \.,
issus
Credits for Travelers In Earope,
Exchange on Paris and the Union Bank •! London, Insums to suit.
Snbccrtptlon anents for the CnBOTncLS In Paris.
WiLLIAMS&GuiONj63 Wall Street, New York.
TKAVKLLKKS and COMMERCIAL CREDITSISSrED, available In all parts of Europe, Ac. BILLSOF EXCHANGE drawn in sums to suit purchasersalso Cable transfers.Couutry Bankers can be supplied with Bills of Ex-
ciiauKe. HI larjfc or small amounts, on the principaleltlea of Europe, also with Tickets for I'assaire from,or to. Europe hv the GUION LINK ol Mall Stenmers.ADVANCES MADE UPON CONSIGNMENTS OF
COTTON, and other Produce to Ourselves or Cor.respondents.
Alex. S. Petrle 4c Co., Oulon ic Co.London. Liverpool.
Tapscott, Bros. & Co.n SorTH ("TREET, NEW TORE.
\'nr Sterling Kxchanee and demand notes In sumstiwottiwrehaMrs.pavRhie i ail 'ariKoiOrert Krttsinami l.,lano, a^ d available for the Continent olKnrope onMcssra. PRKRCOTT,G«OTK&CO..Baiker«,Lf>ndon,
W. TAPSCOTT a CO., Old Sail. Liverpool.Orders for aovernmen' Bonds, • tocksand Merchan-
'lie execntcd. and Foreign Kxchangn and Uraltabought.
John Munroe & Co.,BANKERS,
My. %' Wall Street, New Vork,•IT a Clicaiar Letters of Credit for Travellers on the
CONSOLIDATED BANK, LONDON,AND ON
mVNKOE & CO., PARIS.
EXCBAN'OE ON hOSuvU iXO PARU.
Financial.
WE OFFEK FOR SALE.
AT NINETY (90) AND ACCRUED.INTEBESTi ~ "
I9 20,000
OF THE
FlilST MORTGAGE SEVEN PERCENT BONDS
OF THE
Cincinnati &Muskingum
Valley Railroad Co.
Bonds $1,000 each. Coupons, Janu-ary and July. Principal and Inter-
est Payable in New York.
The Pennsylvania Railroad Comnanvowii the ma-
lority of the Capital Stock ot »4,000.l»» of this C om-
bauy, and the completion in October last ol the
braiichff sixteen miles from Dr. Bdcu to Zancsvllle,
1 rhio. has afforded a direct conn, ctlon for ihe valua-
ble locil tralBo of this section of the State with the
sv'temol roals coutrolleaby the Pennsylvania Rail-
rbail Company, imil In addition thereto makes a line
to Cincinnati »s favorable lu character as any existing
We confidently recommend these bonds as a goodInvostnient.belnff issued at the i ate of only 110.000 per
mi c. n a compute 1 road, or only about onc-tu rd ft
lis cost.
E. tV. CI.ARK & CO.,Plilladolpliia.
CI.ARK, DODGE ds CO.,New York.
In view of the small amount P"r mile of the First
.MortKage upon the Cincinnall and Muskingum \ alley
iuilw-ay, and the lact that the present busin. ss ol ihc
line witiiout eastern connection has been more than
Ruffl'clent to meet the Interest upon lis Indebtedness,
I regard the Bonds of ihis Company as a porf ctly
safe security,
J. EDGAR THOMSON .
K. H. ALLEN, Vice-Pres't First Nat. Bank, President.
B. M. HOLDES, Cashier FlrftXationalBankTreasurer
aAUVKL iiCKBE, Scc etary.
OFFICE OF THE
Western Bond Board,
No. 17 TTest FUth Street.
KANSAS CITY, Mo.The operations ol the Western Bond Board are
devoted specially to the Negotlat on ol Western
County Bonds, Municipal Ponds, and the Bonds of ihe
several School Districts of Missouri and Kansas. All
Bo-ds oflered are thoroughly examined as to the
legalityof their Issue, and none are presented excep
such as we believe to be reliable in every partirnlar
Full statistics and every information given upon
application to
SAMVEIi McKEE, Secretary.DKSIRABIiE
Home Securities.
FIKST MOBTQAOE
SEVEN PER CENT COLD BONDS
OF THE
walkill valleyRailway Company.
OFFERED FOR S.'.LE AT i
NINETYAND ACCRUED INTEKE8T, IN CURRENCT,
BYMEAD & CLARK, Financial Agents,
141 Broadway, NEAV YORK,AND
BRASTITS F. MEAD, Banker,340 Tbird Avenue,
ror'cr of Twenty-Filth S re t, NEW TORK.By ex hanginir Unite'l Sta'^s Bom's for the Pom's ot
the WALKILL VALLEY R4ILWAT COMPANY, youyon inerease your i come over 40 per cent, ando'i^".- .'/i°i'P''«.y "' * P" """' and get a 61 curltyEQL ALLY o.\FK.
S. G. & G. C. Ward,AOENT* TOR
4ARINO BROTHERS & COMPA:IY.It WALL STREET, NEW YORK,US STATE STREET, B08T0H.
Texas Bankers.
T. H. McMahan & Co.,Bankers,
And Dealers in Foreign and Domestic Exchange,GALVESTON, Texas.
We have prompt and reliable correspandenta at allthe principal points thronghout this S'ate, and uponall collections payable in this City or Houston, makeno charge for coliectlng, and only actual charge uponInterior collections. Immediate andTirorapt at i enrlougiven to all basiness entrusted to us. Refer to Nat.Park Bank, Howes & Macy, ana Spofford Tlieston &Co„ N. Y., ad Nat. Bank.Boston, Pine Lepeyrc & Bro.
.
N. o., Drexei & Co., Phlla.
National Bank of TexasGALVESTON,
Collections made on all accessible points.M. KOPPEliL, President.J. J. HENDLEY, Vice-Pres't,
CHARLES F. NOYES, Assistant Cashier.
V Y foiresnondents ( Amer. Ex. National Bank,y. y. Coireapondent8,jj^^p^
jj.^^^j.g Nat. Bank.
M.BKANDOX, Frt'S't.,
o. LACTK, Secretary,J. o. WALLiB, Vice-Pree't
,
ALPllONBK LAUTB, Caghirr
Texas Banking & Ins.,GALVESTON.
Cask Capital, -.---- $238,000DlRECTOltS: J. M. Brandon, J. C. Waills, F. K.
Lubbock, M. Quin, E. S. Jeinison, M. W. Baker, Leonmum, Geo. Schneider, K. S. Willis, T. A. Gary, W. B.Wail. Rob'l. Mills, T. J. U. Anderson.Special attention given to collections at all pointE
In f-e State, and remittances promptly made, withoutany charge cvcept customary rates ot exchange.
THE CITY BANK OF HOUSTON,Capital, $325,000.
Houston, Texas,We give special attention to coUcctlOLS on all »c-
,e8.slble poli.tb.
DItiECfTOliS: W.J Hutohlns P.W.Gray, A.J.Burko, Cor. Eunls, W. M. Rice, K. U. Cushlng,
BENJ. A. BOTTS, President.B, F. WKEMti, Cashier.
Moore & Wilson,(Snccesaora to U, M. Moore,
BANKERS, BRYAN, TEXAS.
Collections made and promptly remitted for currentrAte of exchange. Correspondents:
Messrs. W. P. C0NVEE9B * CO.. New York.
BASSETT & BASSETT,BANKERS.
Brenkam, Texas.v'orrespondenta: Houston—First National Bank ;
Qtiiveston—Ball, 3«tchinBS & Co; New Orleans—Pike,Brother & Co.; New York—Duntan, Sherman & Co.
Sayles &. Bassett, Atty*s at Law,Brenham, Texas,
P. R. Smith & Co.,BANKERS AND
COMMISSION MERCHANTS,BBTAK, TEXAS.
0. B. JOHNS,r. XVKBBTT,
J, C. KIBBY,W. YDS BOaSHBBBS
C. R. Johns & Co.,TEXAS LAND AGENCY
BANKING & EXCHANGE, .
AUSTIN, TEXAS.Purchase and sell real estate, pay taxes and adjust
rules prosecute Land and money claims against the
State and Federal Governments ; make collections.
Receive dcposiu and execute Trusts.
Adams & Leonard,BANKERS,
TERMINUS OF CENTRAL RAILROADCorsieana, Texas.
New York Correspondent Morton, Bliss ft Co.
M A >OBT, IGbOBGB W. JACKSON.
Late Fort * Trice. Late Cashier 1st Nat. BankOalllpolls, O
Fort & Jackson,BANKERS,
WACO, TEXAS.KBFltBBNOBS AND CoRRKSPONDKNOB:—New York
Winslow, l.anler * Co.. David Oows & Co. Unclu-oatl : First National Bank. Merchants National Bank.Kew Orleans: Louisiana National Bank. Wheless ft
"rati. Hankers. Ualveston : T. II. McMahan ft Co
Cammann & Co.,Bankers and Brokers,
B Wall Street. New York.Transact a Gbnkbal Uankino BcsiNiiSS, and glvib
narticuiar attention to the PURCHASE AND BAj^OFGOVKUNMKNT.STATEANDrfAlLKOADSECU-KITIKB
''''Ospoilti rccslTsd •ableot to cbeck at ilgiit.
{February 10, 1872 J THE CHHONICLR 171
Boston Bankers.
Page, Richardson & Co.,BANKRKS,
TO Stat* Street, Uomton,UU of Kxcii»ni(«, utid Comciierclal •nd Tr»Tel«ri
Oreillu Uautid oa
The «..v_^B-a.t, >^^^^Hu!i4Tt Honn (> It dc 0\>.,)
ANDiTlarcuard« Andre A, Co.JfAUI8.
UirouUr NotM arallsblit for Travelen la all parU ol
i I 21Kurgpe aud tba KaU.
Parker & Cobb,B A N li K It -*. -a U K V O N S H I K K S T U K E T,
noSTON, 1
Buy and nell Western Cltf aud Gonn-(y bouilN.
Philadelphia Bankers.
iBKAMISOKfcCo.BANKKItS,
PHILADELPHIA.Trai «act a iteneral Baaklni; ana RxclianKe butlne^inoladInK Purcnase I
' "'' ""'''
ate. ua Comiuliistoii.noladlnir Purcnase and Sale of StocKs, Itonda, Gold
angel., UoQ
E. W. Clark & Co.,BANKERS,
Philadelphia and Duluth.DE&LKKS IN GOVERNMENT SECURITIKS.
Stock, Note, and Gold Brokers.
INTKlSKSr ALLOWKD ON DEPOSITS,
Western Bankers.
GiLMORE, DUNLAP & Co.,108 * 110 West Fourth Street,
VIKCiNNATI, OHIO.Dealenls GUi.D, SILVEK and all klndf of
aOVEKNIHEKT BONDS.OOLLECriONS in.tDK at all accesBlble
point* and remitted tor on day ol payment.
CH80ICS ON LONDON AND PARISFORSAbS
Samuel A. Gaylord & Co,BROKEIIS IK WESTERN SECUUITIES,
33 Wall Street, NEW YORK.AND
333 North Third St., ST. LOVIS.
H Second National Bank,riTVSVILLE, PENN.,
Capital ..... 1 3 00.000Dopoalttid with U. S, Treasurer to secure Circulation
and Uoitoslu 500,000.
C. urUE, Caahler. CHAB. UTDE Preat.
Southern Bankers.
luToatment Securities and Collections.
A. C. Kaufman,BAKKBK AND BROKEK,
OHARIiESTON, 8* O.0r Dealer In Soatbern State, Citr and Railroad
Becurltlos. Uncuirent Uank Notes, Coin, Kxcdanyo,Ac, A c, HI80 (ioTcrnment UondB.lar loveatmeut Ordors tiolicltud and carelallr exe-
cute).prCollectionsotDIVIDRNDa.COITPONS, NOTES,
OKAFTd, &c., &c.. Qpuii All points In Uie SouthernStates, particalarly Souih Cnrulmu.maae aad prompt-ly reinttted for at current rate or KxchinKO-S3^ Corrpspondeuts of tuU House may rely npon
having their busliieHS attended to with fldelfty anddespatch.
Nbw Toek Cobbxbpondskts :
Henry Cle^s & Co.. Kountzn Rrothen.A. C. KAVFIVIAN.
Morton, Galt & Co.,BANKBKS.
UO West Main Street. LoutsvUie. Ky., dealora InKorelirn and Uomefltic Kxchiii^e, (tovcrumnnt Bonddand au Locul SecuriUus. (jive prompt Htleatlon locoltocUout and orders for luve<itcueut ol funds. / * ^
W. M. F. Hewson,STOCK BISOKBR,
omce No. Jl West TMrd street, CInclunatl. Olilo.
Sf'.lfr.'H: >" 0"><:ln!»»'l Banks, and MeMrs.I.OCK..WOOD • Co., New Tort,
STATE OV ALABAKIA.
The City BankOF SELItfA.
Capital ..... tlUO.OOO
J AS. ISBELL, of TalladeKa, President.
WM. P. AUMSTRONO, Cashier.JNo. W. LUVE, Assistant Cashier.
N.Y. Correspondent—Importers and Traders NationalBauk.
Wm. Fowlib. B. H. SOKlIKSTIi:.I.S.
Fowler & Sommerville,BANK'CRS & BKOKERS,
MONTGOMERY, JLLA,:
Special attention given to purchase of Cotton.
CHAB. J. JSSTKXSB, T. F. Brakoh, Jo3. S. BsanPreat. Vice-Pres't. Casb'r.
Merchants & PlantersNATIONAL BANK,
AUGUSTA, GA.
Cash Capital, ...... ^200,000Special attention paid to Collections.
Edward C. Anderson, Jr.
BANKBU, FACTOR AND
Commission Merchant,Sv.Tftunalif Ga*
Special attention given to consignments of Cotton.Gold, Stocks, Bonds and ForelKu and Domestic
Itxchange, bouffht and solji.
Collections promptly refliltted forOrders solicited lor the purchase ot b.iies of Produce
and Securities. Prompt uttentloc jfuaranteed.New York Correspondents : Lawkknok Bros.A
J.W. Wheatley & Co.,
BANKERS AND BROKERS,AIHERICtJS, GA.
Do a general banking bastness. Cotton purchasedon order. Collections made and promptly remittedlor.New York Correspondents — Messrs. Wm. Bryce
A Co.
E. E. BuBECss, Fres't. A. K. 'vfALKBB, Cashier.
First National Bank,WILMINGTON, N. C.
Gotlectlons made on aH parts oi the United States.
H. Castleman,8UOOK8BOB TO
HAWKS & CASTLEnAN,BROKER,
COLUMBUS, Georgia.
Government Hecnrltles, Gold, Stocks, and Bonds olevery description ; and Real Kstiite bought and sold.Collections made on all ** accessible points."
New Orleans Cards.
State National BankOF NEW OKLKANH,
formerly I.0DUIIANA BTATK BANK, Uoerporated18 18.
Capital.. $500,000 |Limit,.. (1,000,000
Prompt attention glren to fCollections open all nolotain the southern Btutes. Collections free ot dtiarKaother than actual cost upon dlsiant places.Remittances promptly made at current rates ol
exchange on the day oi maturity.Exchange purchuso'l and sold ur>on all PQlnU.
8AMUKI. II KE.SNfWTPrea'lE. KIONKY, Vlce-PreaX
0HAS.L.C.DUPU7 Cashier.
John A. Klbin, C. C. Flowsbbxi. Uxo. M. KlklxPresident. Vice-President. Cashier.
Mississippi Valley Bank,A BANK OF DI8C0U.VT AND DEPOSIT,
vicKSBunu, niiKS.tl. T. Correspondent:—Bank of the Manhattan Co.
exo. u holhbs. alxx. xaobkth.
Holmes & Macbeth,STOCK AND BOND BROKERS,
OHABLESTON. S. C.g»1 boi M.
'
N. O. National BankOF
NEW ORLEANS, LOUISIANA.ALKX. WUELBSS, Prualdent,
JAS. N. BEAUI.^8, TlcePresldsnt.RICBARO J0NK8, Cashier.
Particular attentlcn given to Collections, both lathe City and all points In connection with it. Promptreturns made at best rate of Exchange, and no chwgemade, excepting that actually paid npon any dlsfaBtpoint, Correspoudence soUciteU.
NXV YOSK COBBKBPONSXVTNINTH NATIONAL BANK
O. TowxasHD. P. O rAZXSDB. W. R. Ltkav.
Townsend, Lyman & Co.BANKERS & BROKERS,
NEW ORLEANS. '
IVPartlcnlar attention given to business of Correa*pondenu. CoUectlona remitted tor at current rate otKxchange.New York Correspondents Trevor & Colgate, Mor-
ton BMsa&Uo.
Finandil.
BANKING HOUSE OF
Geo. Opdyke & Co.,NO. 25 NASSAU STREET,
(Corner of Cedar street.)
UiCPOSlTS received from Individuals, Firms, BanksBankers and Corporations, subject to check atstKht, and interest allowed at the rate of FouB percent per annum.
CERTIUCATKS UF DEPOSIT Issued, bearing FooBper cent Interest, payable on demand, or afterILxed dates.
COLLECTIONS made on all accessible points In theUnited States, Canada and Europe. Dividendsand Coupons also collected, aud allmost promptlyaccounted for.
ORDERS promptly executed, for the purchase andsale of Cold ; also. Government and other BecarNtics, on commission.
INFoitMATION lurnlshed, and purchases or ex-changes of Securities made for Investors.
tiEGOTlATlONS of Loans, and Foreign ExchanxeeSeoted.
LocKwooD & Co.,BANKSR8,
94 BROADW^AY.Transact a General Banking busl.
ness, Including the purchase aud sale
of Government and State Bonds, Rail-road Stocks aud Uonds, and othersecurities, un cummlsslou.
Ten Per Cent'MORTGAGES AND
MUNICIPAL BONDS.SMITH & HANNAMAN,
BROKERS, Indianapolis.
Financial Laws aud Forms of ludtjna sent fiee.
N. Y. National Exchange Ba ik Corre>pandent
John Pondir,BROKER
Is GoTcrnment Bonds, ExchaiiKe.Gold aud Stacks, ^
No. 44 EXCHANGE PLACE.Particular attention given to the negotiation of
ttallway and other Corporate Loans.Union and Central Paciilc Bonds and Btocio a spa-
la.ty.
C. & G. Woodman,BAKKKHa;
30 PINE STREET, N. Y.|
Hosiers in STOCKD, BONDS.and LAKO WARBAKTfl
172 THE CHRONICLE. i February 10, 1372.
Financial.~ 27TH ANNUAli BEPOKT
OF THE
N E TT YORKLife Insurance Company,
OFFICE:Nos. 346 AND 348 BROA»WAir.
JANrARY_l, 1872.
Amount of Xct Cash As^'ilTn. 1, ISn.. . 115,676,097 96
Life aunuilles, matured en- „™~dowuicutsand reinsurance. S^,™ «
Dividends to pollcj-hoUlcrs.. S19,673 «Commissions, brokcroses andaaency expenses jui,[xn lo
Advertising and pliyslclans- „,^„Jggg SD,Ot>* OO
Taies, office and law ex-
penses, salaries, printing,
revenue stamps, etc 753,899 91— 1,167,M6 49
¥18,689,747 3GASSETS.
Cash In Trust Co., In Bank,and on hand 11,815,002 15
Invested In United States,
New York State and other
iBtocks (market value W,- .,,.„„,„161,li! 83) cost 1,616,103 43
Invested In New York City
Bauks Stock (market value ...„,„»16,125) cost 41,519 00
Heal Estate In the City ofNew York 1,763,171 14
Bonds and Mortgages (se-
cured by real estate valuedat »20,1100,000 ; buildingsthereon insured for over»3,000,000, and the policies
assigned to the Companyas additional collateral se-
- curlty) 8,311,82000Loans on existing policies.
(The reserve held by theCompany on these same pol-icies amonnts to $3,£>8,-
960 21) 956,636 99Quarterly and seml-nunualpremiums, due subsequentto January 1, 1872 660,56117
Premiums on existing poli-
cies in hands of agents andIn course of transmission. . 330,355 73
Amounts due from Agents . . 18,839 01Interest accrued to January1,187! 77,016 1+- 18,689,717 S6
Add-Excess of market value of se-
curities over cost 114,081 10
Cashassets, Jon. 1, 1872. $18,803,768 76APPROPRIATED AS FOLLOWS:
Amonnt of Adjusted Losses,dae subsequent to Jan. 1,
IBT.! »212,890 00Amount of Keported Lossesawaiting proof, etc 127,900 00
Amount reserved for Kelu-surance on existing Poli-cies. Insnring»li2.rj0,(r75 30,participating insurance iat4 per cent. (Jarllsie net pre-mium) l$l,H)l,7ii 65, uou-participating (at 5 per eeut.Carlisle net premium) 16,811,177 21
Balance of Ueluru Premium,1^1, payable during theyear Isrj 133,667 12-17,315 631 Si
Divisible Surplus, $1,488,134 43During the year «,iMi Policies have been issued. In-
suring »2t.(ii(l,:iu5 *l.
flrom the uudivided surplus of »1,488,131 43, the Boardof Trustees have declai-ed a DIVIDEND, available ousetllenicut of next animal premium to each participatingpolicy proportioned to lis " eunlrlbutlon to surplus.'
,,« „... „„ TKUSTEES.MO..RIS FRANKLIN,
D vvn DOWS "' °' ^'"^ ^°'''' ''"' 1"™""'"= Co.
ISAAC C "kem "\L*i'''^^"^^ Merchants), 20 South st.
WII I l'\M"llAifTnl"'''""'S'Wloncrs), 370 Hro,adway.
W M \ 1 (to t i• • ; i.
• ,„ •^.(B.^Xcr), 33 Wall St.
Ol- i ;,.l-' A lisiniin •*""""• & Edgar ,100 WalUt.li'NBV isowi.^ a
"" illnnler) »4 Bioad st.
S.VN f Ol:D'c"imI"' * """• "'^ '^°°'"' "' Leonard st.
EDWAR^IrMABTiNf" "'" '»>'«''« Co., 71 Wall st.
h DWIN noYt/*"* ^''" •'''^'"'""S).W West 12th st.
n. ii""iAp'Ll?r'' * ^''- '"^ 0»»««».1«) Franklin st.
(H. B. Haain* Co., Dry Goods, corner Church
Vice I>re«ldcnt of tbc N. Y. Life Insurance Co.
ItlOnniS FRANKI.IN,
WILI^IAn H. BEERS?""""
THEODOUKi'l'-.^.'^rtTSr*"'"'''--D. O'Dc LL, Superintendent of Agenciescounhlil's K. BOGEKT M. i^f"'""'^'-libOBijK WU.Kl'S, M. O.,
Medical Exatntuer*.
Financial.
BANKING HOUSE
Jay Cooke & Co.
The LARGE and CONTINUOUS SALES
OF NORTHERN PACIFIC 7-30 GOLD
BONDS IN THIS COUNTRY ANDEUROPE, where tliey have a RECOG-
NIZED STANDING on all the BOURSES,
GUARANTEE the EARLY COMPLETION
OF THE ENTIRE LINE OF ROAD.
The popularity of the Bonds is due to the
fact that they are based upon the amplest
security, being a FIRST AND ONLYMortgage upon the road, and in addition,
upon over FIFTY MILLION acres of land,
susceptible of producing in abundance all
the fruits, vegetables, aud cereals of the
Eastern or Mi idle States.
The Government valuation of this Land
Grant is ONE HUNDRED AND THIRTYMILLION OF DOLLARS, or more than
sufficient to pay the entire cost ef the road.
These Bonds are issued in the following
denominations
:
$1001 $100]1 .'iOO
I
500|-€oupon. 1,000 y Registered.I
5,000I
1,000J 10,OOOJ
Aud are at all times interchangeable at
the office of the Company, or through the
Fiscal Agents, without charge.
They are exempt from United States tax,
have THIRTY YE.VR9 to run, are offered at
Par and interest in Currency, and will per-
manently yield a large interest income in
Gold.
All market.ible securities received in
excliange.
Full particulars furui-hed by
JAlf COOKE & CO.,
New Vork, ^Philadelphia and TVash-
Instoii.
Financial.
ALL TAXES PAID.We think very lilghly of^ and recom-vmentt to all claNses of luveslors,
THE CONNE TIOliT VALLEY UAII. OAD FIRSTMUKTUAGE i PEU CiONT. BOMUS,
Frke of ALf, TAXf s In Connecticut ; ir^o oi Imnme1 jix every will r-. Intoe-*' nnyii' le - anuurv nn t
.JnU". in New Yrrk. I!oad flu si if d im i roiinlnir
;
tit <-k pnM up lu (ft r Utnn murtg uv. ; nioriKOK'!Ijo-tiilvely liinitct to ore million imllari; roul hl-r.Nidy enipUiied t> i sutmosL ixpA'^trv. and earningninr« timn It- m-n- gase In eiest and all cxpt-nscs.EorsKlu.ai 9rmM(l I tt-r- st, by
AI.I.GN, SrKPHEIVS Sc CO.,Kankors, No. 12 l*ino St., N. T.
B:^~.-ena a'l letleM to PoBt-Ofilce Box No. 3 0>7._gi
10 PER CENT. ROIVDS OF THE!
STATE OF TEX'^S,PlilNCIPAL PAYABLE IN WTS.
ISTEItST PAYABLE 1ST MARCH AND 1st SEPT.AT FAKMEIVS LOAN AND TRUST CO.
FOR SALK BY
CONDICT & CO., 98 Broadway.
8 PER CENT GOLD.
Ill terest payable quarterly
Free of GoTernmeut Tax.
9X PKK CKXT UPON THE INVESTMENT.o
SIXTY PER CENT MORE INCOME THAN UPONGOVERNMENT BONDS,
AND AN VlNDOVB'TED SECrRITT.
FIRST mORTGAGESINKING FUND BOND
(COUPON AND REGISTERED.)
ISSUE LIMITED TO $16,300 PER MILE.
The following ie a brief flnmmary of the odvaa
-
X>'.a oflerud to iuvestors in the
FIRST MORTGAGE BONDSCF THE
liOGANSPORT, CRAWFORDSVILLFAVD
SOUTHWESTERN RAILWAY.This road, 92 miles in length, 70 of which
are in actual operation, runs Southwesterly
from Logansport to Rockville, passing
centrally thtough five of the wealthiest
and most productive Counties of Indiana,
hitherto without railway facilities, and
penetrating for twelve miles at its Southern
Terminus, the celebrated Block Coal Fields
of Parke County. It aiJbrds the shortest
existing outlet to Chicago, Toledo, Detroit
Fort Wayne, Logansport, and all otlier
intermediate points for the Block Coal (now
in such large demand). Lumber. Cattle,
Grain, and other surplus products of this
rich Agricultural and Mineral section of
the State.
For the present we offer a limited num-
ber of these FIRST MOUTGAGE BONDSat NINETY-TWO AND A HALF ANDACCRUED INTEREST, in currency, or
will exchange them for U. S. Bonds or
other raarlietable securities, at the rates of
the day. At the above price these bonds
yield to the iuvestor SIXTY PER CENTmom income than the bonds of the United
States, and we unhesitatingly recommend
them to all classes of investors as ofTering
the most ample security and liberal returns.
Further and full particulars, with pam-
phlets and maps, turnished by us on appli-
cation.
JONES & SCHUYLER,No. 12 Finest., N. Y
FINANCIAL AGENTS OF THE COMPANY.
METROPOLITAN SAVINGS BANK,Nos. 1 tc 3 Third Aveuue,
NEW YORK.
STATEMENT JANUARY 1ST, 1872.
RESOURCES.Bonds and MortKaRCB, at 7 per cent on RealEstate in the City of N. Y. and vicinity
worth at least double the amount loanedthereon **-
,Banking House and Lots, cost
I
U. s. S-Sl 6 Per Cent. Bonds, par 1
New York State 7 Per Cent. Bonds, par
—
Bonds of other States, 6 Per Cent., parNew York City 7 Per Cent. Bonds, par
Do. County 7 Per Cent. Bonds, par.
.
Do. City 6 Per Cent. Bonds, parDo. County Per Cent. Bonds, par.
.
Brooklyn 7 Per Cent. Bonds, parBondsof Towns In State of N. V., 7 p. c. par.Demand Loans at 7 per ct. on U. S. Bondsand other Public Securities 1
Cash ou hand and deposited in BankAccrued interest & premiums on securities.
Amount of ResourcesLIABILITIES.
Due Depositors, principal »6,()13,2«i 10Due Interest to January 1, 1872. 175,229 15
,317,r,68 0024.1.589 71
,4Ki,UU0 (10
12S.UI0 tlO
lUMKlO mIS.tK) l«
637 .UUI IW(i,3iio m^.000 00110.000 DO815,000 00
.029,550 CO513,.'iC3 31
210.554 B(i
17,115,125 88
6,788,495 S5
Surplus $326,030 63
ISAAC T. SMITH, President.
rf-'-lTc^lJ^PitSEN. }Vice-Presidents.
T. W. MLLIE. Secretary.
toniaeHUNT'S MERCHANTS' MAGAZINE,
REPRESENTING THE INDUSTRIAL AND CXDMMERCIAL INTERESTS OF THE UNITED STATES.
VOL. 34:. SATUllDAY. FEBRUARY 10, 1872. NO. 348.
CONTENTS.THE CHRONICLE.
Tae Clearinp-UonBC Certificatesand the MonetarySltuation. , , 173
The Scare about the Treaty 174Vlr>;»nia and her Creditors 174Cummercial Failures Last Year. 1T8('urreoi Topics 177
THK BANKERS' GAZETTE AND RAILWAY MONITOR.Money Mnrlcet, Hallway Stocks,
JNational Banks, etc
U. S. Securities, (iold Market,[Quotations of Stocks and Bonda
Foreii^n Kxclian^e, New York Local Securities
178Changes in the RcdocralngAjfents of National Banks...
Latest Monetary and CommercialEnf;lishNew9 178
Commercial and MiscellaneoasNews 173
roreli'n h.xclianse, New YorlCity lJank«,l'hiladelphiaUank9 | Railway News 185
THE COMMEKCLAL TIMES.Commercial Epitome I8S I Groceries 192Cotton l«9iDryGoods 194BreadstaPs 191
IPrices Current 199
®he €[)tonxcit.The CoMMEKCiAL AND FiNANCiAi, CHRONICLE is ismcd On Satur-
day morning, tcith tlie latest news up to midnight of Friday.
TERMS OF SDBSUHIPTION-FATABLS IH ADVAHCS.Thk CoHMr.aoiAi. &HD Financial Cdkohiolb, delivered by carrierto(rttyiu^.«criborB,ana mailed to all others, (exolnalve of postage.)Kor One Year »10 00For Six Months 6 00
7ftrfCnRO • icLn wlU b« sfnt to snbscrihtrs until ordered diftcfmtinued by letter,r 'lage U *) centi per year, and is paid by the subscriber at /tie own post-office.WtLLiAa B. iiAKA, i WILLIAM B DANA <c OO., Pnblishtrs,WitK o. Fboxo, JB. ( 79 ajid 81 William Street, NEW YORK.
Post Orficir Box 4.S^5.
Mr. Alex. Holmes is our only agent in the New England States. His addressis P. O. Box 4,279, Boston.
tW The Publishers cannot he responsible for Hemittances onleBS made byDraft* or Post-Offlce .Money Orders.tS^ A neat file for holding; current numbers of the Chboniole is sold at the
office for SO cents. Volumes hnund for subscribers at ft 25. The flrst andsecond volumes of the Ciibonicle are wanted by the publishers.
THE CLE,iRI.NG-HOU>E CEKTIFICAIES AND THE MONETARY
SITIATIII.V.
la the midst of the excitement of the past week the mone-
tary situation has preserved a singular quietude, although
there is an expectation of a slight movement towards a
closer supply of loanable fun'ls. This is founded on several
reasons. First, there is a drain of currency from the banks,
as is frequent at this time of the year. It usually begins
about the 1st of February, and continues until the middle
of April, after which the reflux sets in and continues through
the summer. For this loss of their greenbacks the banks
are not quite so well prepared as they generally have been.
It appears from apublished annlysis of their position during
several successive years, that in comparison with their
liabilities the reserve of the banks is less adequate now, andthe inference sought to be established is, that with a fiir
demand in our local money market, and the prospective
drain of greenbacks to the interior, thsre may be someinterruption of the unbroken fase which has been confidently
calculated upon in some quarters.
Another argument in the same direction is based on the
redemption of the certificates, two millions more of whichnave jusi been called in by the Secretary, pursuant to the
law of July, 1870. The redemption of these Clearing IIous.
certificates will, of course, absorb so much of the bank re-
serves, and occurring at the time when the greenbapks are
also going out from the city, will tend to produce a scarcity
of reserves, and thus to force the banks to contract the ac-
commodations to their dealers.
A similar effect is also expected from Mr. Sherman's bill,
which passed the Senate on Thursday. This measure gives
the Secretary permission to withdraw the certificates at the
rate of 3 millions a month. If it become a law, its opera-
tion would need to' be very cirefully regulated, or trouble
in the money market might be to no small extent accelera-
ted by it.
Such are some of the reasons urged by those who are
expecting a dearer money market. Besides these there is
the possibility of foreign capital being withdrawn from this
side in view of the possible complications in regard to
the Washington treaty. This point does not seem, however,
to be much relied upon, and the opinion seems to be grow-
ing in favor that the utmost evil that can be expected from
the new phases of the Alabama negotiations is the delay
of the amicable settlement which it is the highest interest
and the sincere desire of both nations to arrive at as soon
and as satisfactorily as possible.
A more formidable argument against continued monetary
ease is founded on the position of the savings banks. Four
of these institutions have failed, and in nearly
every case the violations of trust on the part of
the officers have been so gross that the public seem to be
withdrawing in part their confidence from the system. This
result is the more encouraged by the fact that all attempts
are for the present baffled to bring any of the delinquent
officials to account, either by civil or criminal procedure.
The consequence is that the deposits in several of the
younger and less firmly established, though sound and well
managed institutions are gradually diminishing. The oldtr
and better known savings banks do not wholly escape th's
movement, and the result is tbata larger amount of green-
backs than has heretofore been needful has lately been kept
in their vaults to provide against emergencies. It is easy
to see how these savings institutions, connected as they are
with the National banks, and anxiously makmg every effort
to convert their means into a mobilized form, will aid us in
augmenting the pressure on the monetary machinery. Tie
influence is also enhanced by the fact that in a season of dis-
turbed confidence, especially among'the masses of the people
a much larger amount of currency is required to do the
business of the country, and a considerable increase is made
to the amount which is usually dormant in hoards, and in
the pockets of the people all over the country.
These are the chief arguments urged as to a more acf'«
money market. It is an obvious inference from llviil the
money will, at any rate, not ru!e at very low nercial men
n:)id41e of April, so that those of our
174 THE CHRONICLE. [February 10, 1872.
whom engagements require to be provided for prior to that
time will do well to govern themselves accordingly. On
the other hand, there is not much apparent indication of
any spasms in the loan market, unless Mr. Boutwell, which
is very unlikely, should act with undue haste in withdraw-
ing the Clearing-House certificates, which, for some time to
come, will form so useful and indispensable a part of our
bank reserve. ^y'
THE SCARE ABOUT THE TREATY.
In the absence of any other well defined topic capable of
throwing into confusion the Stock Exchange here and in
London, the speculators on both sides of the Atlantic have
adroitly seized the opportunity to get up a short-lived ex-
citement about the Alabama treaty. Sensible men hoped
the old claims therein provided for had long ago been
placed in a fair way for amicable and final adjustment.
Since the Treaty was concluded last May and ratified and
exchangeil on the 17th of June there has not been a dis-
cordant whisper to disturb the harmonious relations between
this country and Great Britain, We had inaugurated as
was thought a new era in the diplomacy of ihe 19th cen-
tury. We were congratulating ourselves that we had dis-
covered a novel method of adjustment by which not only
this particular grievance but all future differences could be
set at rest, and war rendered impossible for ages to come
between the two greatest commercial nations of modern
Christendom who are so closely allied by blood, by
free institutions, by high spirit, by national honor, by
the mutual intercourse of commerce and trade, carry-
ing the flags of the two countries side by side over the
whole world. Never has a treaty been made with a more
general and honest belief that it would be carried out in
good faith, and that no possible question could be raised
which its tribunals would not be found competent to
solve. When the Geneva conference meets next June wchold that by the terms of the trenty our claims against
which England objects should be fairly presented, and the
arguments against them fully heard. If the objections in
regard to jurisdiction which are now put forth with such
unseemly violence by high authority in Great Britain
are valid, these claims for construction and interential dam.ages will be there and then ruled out, and both our Govern-ment as complainants, and the Government at St. James'sas defendants, will gracefully acquiesce. Meanwhile the
discussion of the question ought to cease, as an altercation
coram non judice.
It must be remembered that international tribunals like
those convoked by this treaty have no Eettled code of prac-tice like the courts of municipal justice. In the absence ofany rule to forbid, our representatives in the conferencehave therefore done right to make their case as strong asthey could
; and public opinion in this country would nothave been satisfied, if the statement of our case had excludedthese claims for consequential damages for the losses in-
flicted on us by the Alabama and other ships similarly
equipped against us.
Claiming the right to give ? place to these damages be-fore the Geneva Commission, we must concede to Englandthe right to oppose us either by the persuasion of friendly
remonstrance prior to the convention, or by the force of ar-
gument and proof in face of that tribunal. Every rule ofoternational law and common justice justifies either of these
rignaqrses. England at present has used her undoubtedcede frorr.fprmer, and as we are bound in honor not to re-
•econd plan n^osition, she will undoubtedly adopt the
and is ready to deal authoritatively with the questions to
be raised.
Now, we submit, that there is nothing in all this to jus-
tify the foolish reports which for sensational purposes, po
litical and financial, have filled the newspapers for some
days past. What are the facts? The Queen of Great
Britain tells her Parliament that " in the case submitted by
the United States large claims are included which are un-
derstood, on my part, not to be within the province of the
arbitrators." She added that she had caused a friendly
communication to be made to our government relative to
these claims. This document is on its way. Its con-
tents are friendly, and no doubt when it arrives we shall
give its arguments the respectful consideration due from one
high contracting party to every formal representation of the
other. Of course, our case will be left substantially
as it stands for the adjustment of the Geneva tribunal.
But, saving this essential point, there may be moans found
to simplify and shorten the proceedings ; and for conveni-
ence in the discussion, some minor matters of difference
may admit of preliminary adjustment. To find out whether
or not this is posdble is no doubt competent for either party ;
and if, as was announced on Thursday, Mr. Adams has
sailed for New York, his visit to President Grant may have
this special object in view. Should this prove a fair view of
the situation there is no such danger to our international peace
and friendsliip, nor even to the success of the treaty, as is
pretended. And a significant confirmation may b«i derived
from the fact that at Washington there is no such excite-
ment as the cable reports to exist in London ;and that all
the efforts of the gold operators have not succeeded in put-
ting up gold on this side to a higher point than on other
grounds cited last week it might fairly have been expected
to reich. On the other side of the water the speculations for
a fall in our government bonds have met with even less suc-
cess, and will probably entail heavy ksses before the short
sales are covered.
If, in view of these facts, it is asked why Mr. Glad-
tone made so intemperate a speech oo the subject m
Commons on Tuesdaj, and why both
in Parliament de-
gLuiic iiittuo so
the House of
the Ministry and the Opposition
nounce in terms equally violent with those of the
English newspapers, the claims of the United States for
consequential damages, the reply has been given that so
long as these matters do not cause more serious disturb-
ance at the Stock Exchanges where millions of property are
at stake and where vast sums are paid for the earliest
and best information, which is being searched for continually
by the keenest intellects in Europe and in this country, we
may safely infer tliat secret causes are well known for
what has happened, and that the intemperate and undig-
nified ebullitions in nnd out of Parliament on this question
have some unknown purpose or satisfactory explanation, or
some casual origin not at all at variance with the evident
and direct friendliness of the attitude of the two govern-
ments. How far this interpretation may be from the
truth we shall learn a few days hence when the " friendly
message" of Great Britain is received at Washington and
is published, as it doubtless will be, for the information of
all classes of our people. Meanwhile, it is believed in
quarters entitled to credit that the two governments have
an understanding that the damage, direct, indirect, and
constructive, shall not exceed a limited sum which is rea-
sonably stated at from 20 to 30 millions of dollars.
VIRGINIA m IIER CREDITORS.
Since our recent, discussion of the debt of Virginia, that
n^er when the tribunal reassembles 1 State has shown sttjme sensitiveness about the charge q( re-
February 10, 1872.J THE CHRONICLR 176
pudiatlon which has been very freely biou^ht again't her.
She has placed her finances in the hands of a special com.
mittee of the Legislature, who have just made their report.
It seems that of the $47,0i)0,000 which make up the public
debt, 12 millions are held in Virginia, 23 millions here and
in other States, and about 12 millions in Europe. No part
of the debt has been created since the war. Every dollar
of it is represented by some of those magnificent public
works in which lies the promise of so much prosperity to
Virginia in the future. No State in this Union has a debt
more creditsble to the honor and capacity of her financial
officers, or more free from the taint of extravagance, fraud,
or douht. It is this debt with which the committee had to
deal, and what they propose is briefly comprehended in these
two propositions. First, they would cancel thirty millions
of bonds issued under the funding bill of last year, and
compel the creditors to give them up for new bonds. These
bonds are to run 34 years, and to bear three per cent interest
for the first 12 years, six per cent for. the next 11 years, and
9 per cent for the final 11 years. Secondly, all contracts
recently made under the solemn sanction of the State in ac
cordance with the funding bill are revoked, and the creditor
is to have no security that the present contract will not be
similarly disallowed and renounced hereafter. And as to
the one-third of the debt which under the funding bill was
in suspense until West Virginia should assume her equit-
able share, this sum is thrown out, and all responsibility for
its future adjustment denied.
It is somewhat noteworthy that in the face of this docu-
ment which represents the prevailing views of those
entrusted with the management of the State finances, these
persons, one and all, deny any intention to repudiate the
just claims of the bondholders, and profess a sincere
desirr to keep good faith and pay all that is honestly due,
principal and interest, as soon as they can. They argue,
however, that they are dissatisfied with the Funding bill,
that they can exact better terms, and save money for the
State Treasury, and that they aie compelled to do this
because the people are too poor to pay the sums imposed
upon them. Let us briefly examine these statements. And
in the first place we freely concede that if the State should
carry out this purpose, their creditors would have no legal
redress. The State cannot be sued, and it holds, therefore,
absolute power over its creditor.', and may pay them one-
half or one-quarter, or any other fragment of their just
claims. In the s'^me secse the State has the power to re-
pudiate or refuse the claims altogether. At least there is
no remedy provided by Jaw or in equity for any such
enormity.
Secondly, the funding arrangement of April, 1871, is
confessedly open to objection by the State, as well as by
her creditors in some minor points ; and although when the
bill was under discussion, and on its passage through the
Legislature, most of its faults were corrected, it was capable
of further improvement. Still on the whole it dij sub-
stantial justice, and the creditors were satisfied. This law
funded two-thirds of the debt, giving for the remaining
one-third certificates payable with interest afler the settle-
ment with West Virginia. The proposition was solemnly
ratified by law, and was accepted and acted upon by all
parties concerned. Thirty millions of bonds had been
funded under this statute, when in December, 1871, a
resolution was passed, stopping all f\irther action.
This resolution repealed the funding law underwhich three-fourths of the outstanding debt had already
changed its form, and declared what had been done invalid.
The resolution passed both houses, and was vetoed by the
body is unable as yet to pass it over the veto. But vehe-
ment efforts are making to command the needful votes, and
yet with these efforts making, Virginia claims that she Is not
really branding herself with the shame, and the burning
disgrace of repudiation.
It is not our wish to repeat this word as it is so offensive
and irritating; we will therefore piss totheother arguments
in behalf of it, which are that the State is too poor to pay
the amount promised in its name last year. Is this so ? Weconcede that Virginia was impoverished by the war. But
she is fast recuperating. Scarce y a single State in the
South offers such an attractive field to farmers, miners, man-
ufacturers, tradesmen and every class of persons with capi-
tal and brains. Still Virginia with all her rich and glow-
ing possibilities is too poor to do what she contemplates.
If she were the richest State in the Union such a breach of
f«ith as is comprised in her repeal of an engagement in-
volving 40 millions of her public debt would prostrate her
credit in all the Bourses and money mirtj of Europe and of
this Continent, Virginia is indeed too poor to brave these
risks.
Moreover Virginia cannot afford to drive capital from her
by bad faith. If she is discouraged and disheartened it
is for want of capital. Nature has richly endowed her. Her
mines of coal and iron are of incalculable value. Her na-
tural resources are not inferior to those of Pennsylvania
where land within the memory of men now living sold for
a dollar an acre which is now worth five hundred to one thou-
sand dollars. Her splendid climate, her rich and unde-
veloped minerals, her unrivalled ports where all the navies of
the world could ride at anchor, point her out as a great com-
mercial State, but most of these local advantages are dormant
and undeveloped for want of capital. Her great systems of
communication with the interior were planned by the
enterprising genius of Washington ; they were advocated by
the eloquence and far-seeing patriotism of Henry and
Marshall, of Jefferson, Madison and Monroe; they were
constructed by the very bonds which she is now trifling with
in so reckless a spirit. In these great public highways this
money has been invested. They must be completed. The
glorious future which solicits Virginia awaits the finishing
of these roads. It will not be consummated without them.
But they cannot be finished and their connections extended
so as to tap the richest centers of the Mississippi valley for
want of capital. It is because Virginia is so poor, then,
because she is in such pressing need of capital to enable
her to develop her resources, that we say she had better
lose no time in retracing her steps, revoking her suicidal
assault on the funding bill, and withdrawing her rash hand
from the sacred fane of her public credit.
Though poor, however, Virginia, as we have said, is recu-
perating. Exclusive of West Virginia, she has a population
of 1,200,000. Her area contains 61,000 square miles of
land unequalled by any similar tract on the Atlantic sea-
board in some of its prospective advantages. Her real
esUte was valued in 1870 at 280 millions and her personal
estate at 86 millions. What, in comparison, is the charge
imposed by the funding bill. The interest to be paid is
less than 2 millions. The assessed valuation of property is
366 millions. Three dollars a year per capita will pay the
interest on the bonds and all the other expenses of her gov-
ernment, with the sinking fund besides. And what is
this sum"? It is just about two thirds of the
sum spent every year for whiskey in the very State
which is contriving the ruin of her credit and the destruc-
tion of her prosperity, which was developing ^under such
happy auspices. But even this is not all. Her personal
Governor, by *hom it was fetumed to the Senate. This [estate increased last year 52 millions. Her Treasury at
176 THE CHRONICLE. [February 10, 1872.
this moment is full. Last October there was in vault
more than a million of dollars, and now the ag.,'regate is
said to be a million and a half. If her credit is not sacri-
ficed she can always command for an emergency a tem-
porary loan. Hence there was no reasonable ground for
fear when the Legislature refused to make the appropriation
to pay the January interest, so as to carry out her stipula-
tions with her creditors. With ordinary care her finances
need never show a deficit. What will happen, if she con-
summates the present scheme, every true friend of old
Virginia shrinks from contemplating.
COMMERCIAL FAILURES LAST YEAR.
Bankruptcies, like shipwrecks, may be caused either by
bad seamanship or periU of the ocean. And if, on this
continent, we have an unnecessarily large number of mer-
cantile failures it is an interesting question of practical
statesmanship how far such disasters are due to those
general causes and to what extent the proclivities thereto
may be reached and corrected by the timely application of
judicious remedies. From the beginning of the commercial
life of this country we seem to have had an excessive pro-
portion of insolvencies ; and, in recent years, an oppressive
fiscal burden, a prodigious debt, an irredeemable currency, a
defective financial system, and a spasmodic money market
have not tended much to lessen the perils incurred by the
navigators who venture too far on the tempestuous billows
of American industry.
Buckle, Draper, and other writers on political philosophy
have collected numerous instances of the regular return of
social phenomena which are casual, but are seemincly under
the control not of chance but of a law of recurrence which
have claimed a place among these " law-governed cas-
ualties." But we can hardly grant the claim without
demur. Much may be said, however, in its favor. For,
although there is a considerable variation in the numberand extent of failures among different nations, England
having fewer than ourselves and Continental Europe fewer
than England, still it must be conceded that in the same
country the insolvencies occur in a pretty even ratio with
the changing contingencies which render business from year
to year more or less hazardous.
In the absence of complete statistics of the commer-cial growth of the country, the figures annually published
by the Mercantile Agencies, showing the number and value
of the commercial failures, have a certain interest, as they
are compiled with much care, and are believed to be trust-
worthy as far as they go. The tables for the past year havejust been made up; and as compared with previous years
it appears, on the whole, as was anticipated, that -our busi-
ness men have not suffered any unusual pressure of disaster.
Still the ugly fact is once more brought to view, that in theUnited States alone of all learning commercial countries in theworld, the failures extend in the most prosperous years toone per cent of the persons engaged in active business, andannually engulf on the average one per cent or more of thecapital embarked in trade. At certain less favorable times,as in 1857, the year of the great panic ; and in 1801, thefirst year of the civil war ; the usual limits of commercialfailures are very much exceeded, as will be seen from thesubjoined (able, which shows the aggregate failures in thewhole country, with their number and total liabilities for
each of the past fifteen years
:
AeOBIOATE NUMBER AND AMOUNT OF rAILPBIS FBpM 1867 TO 1871.
Total 2,799 75,064,0003,55188,242,0002,915 85,252,000
CURRENT TOPICS,
All trustees of savinga iMtnlca ahall be peraonally liable for the,nk and deposits held by them, and on the refusal of the bank,
through any of Its officers, to pay any depositor, they shall have the right andpower to sue and collect tlie amount of such deposit from any trustee in thesame manner as now provided by law for the collection of debta.Sec. 2.—No person nhall be n trustee of any savings bank nnlesa he 1« the
owner of real estate to the amount of $10,000 in the county where the bank i<
located, free and clear from all encumbrance, and shall file in the CountyClcrk^s office in the county where the bank is sitiiatoil a ccrtiflcAte of owner-ship of such property duly acknowledged in the same manner as a deed,within thirty days from the passage of tlie act.
Every one must approve of the proposition to make the man-agers of savings banks responsible to the depositors. But this
object cannot be accomplished in the way proposed in either of
these two specimens of Albany legislation.
Sayinob Bank liEGiSLATiON at Albany.—The popular ex.
citement evoked by the recent savings bank frauds and embezzle-
ments in tliis city is likely to cause some important changes in
the laws regulating such institutions in this State. Sucli changes
for a long period have usually tended toward greater relaxation ;
for tlie savings banks of this State have been for over a quarter
of a century so well managed that ^they enjoyed the almost un-
limited confidence of the people. Now, however, the tide of
public feeling has turned, and the course of legislation will be
likely to turn also. As an indication of what may be expected wemay cite one of the most recent proposed laws on the subject. It
was introduced by Mr. John Foley on Wednesday. It provides
that no savings bank shall receive more than $5,000 on deposit
from any person, nor shall be allowed to pay more than 6 per
cent, interest except there be a surplus, when the extra dividend
shall be paid out of the surplus ; no loan is to be made on anysecurities wliich sell below par unless by the vote of two-thirds
of the trustees ; no trustee except the President is to receive anysalary ; in case of any trustee accepting a salaried office in the
bank his trusteeship is to cease at once. The act contains some
Government Gas Monopolies.—An association, claiming to
represent the gas consumers of tlie west side districts of the city,
are agitating the question of a transfer of the business of gas
manufacture from the hands of private companies to those of the
city authorities ; the gas thus made at public expense to be sold
to consumers at cost. It is a curious fact that there is in this
country a class of sufferers from the extortions of monopolies, andit is not a small'class, who immediately[run to the Oovernment for
assistance. They appear to forget that according to the experi-
ence of the world enterprises of any kind conducted at public ex-
pense are much more costly and much less satisfactory than
those conducted by private corporations, and that no monopoly is
BO odious or oppressive as a Government monopoly, being a very
fruitful source of corruption and oppression. The work of reform
in our city is not yet so thorough or effective that we can safely
ask the Legislature to give our public officers this further aid to
corruption. Such a remedy would, it is evident, give rise to evils
far greater than those which it is designed to correct. All that
we need of the Legislature in this matter is that it shall, so far as
the case will admit, open tlie question of supplying gas to the
city to competition among all who may choose to engage in it.
If this could be done on some proper system, private and indi-
vidual competition would soon settle the question of monopolyin the best and most permanently satisfactory manner.
A Ne-w Steam Line to Naples Proposed.—We understand
that a company has been organized in Naples for the purpose of
establishing a new line of steamers to this port, the steamers to
be running before the close of another year. The vessels are to
be built on the Clyde ; they are to be of iron, of 3,000 tons each,
and fully as good, it is stated, as any steamers afloat. On each
voyage they will touch at Gibraltar, and either Marseilles, Paler-
mo, or Messina. The projectors of the enterprise expect to do a
good business in the transportation of Mediterranean fruit, and
to this end the most approved apparatus will be employed for the
ventilation of the cargo, a precaution which Is necessarily ne-
glected on most vessels of the smaller class engaged in this trade.
Besides fruit, it is also expected that the establishment of direct
steam communication with the Mediterranean ports will have the
effect of building up a large and profitable general trade, as well
as a passenger movement extensive enough to aid materially in
making the line profitable. It is reported that the capital stock
of the company has already been fully subscribed, chiefly in Na-ples, and tliat contracts for the construction of the ships are to be
given out at once.
The Rdsso-Qerman Alliance.—The visit of Von Moltke
and Prince Frederick Charles to the Czar of Russia to receive the
cross of the Order of St. George in acknowledgment of their dis-
tinguished military talents has given rise to renewed reports of
an alliance between Russia and Germany. The ostensible pur-
pose of such an alliance is said to be to maintain peace through-
out Europe, even if it be necessary to goto war to secure that
result ; what its actual purpose is, if such a treaty has really been
entered into, can, we think, be easily imagined. Separate, Russia
and Germany, the two great military powers of Europe, act as a
constant check upon each other, either being able to defeat, or at
least to hinder, the successful execution of any policy calculated
to extend their boundaries or disturb the balance of power;
other less practical provisions, for example, any trustee gviilty of|together, however, they can dictate terms to almost any govern-
m TflE OHUOKiCLB. [februaty lO, l872.
mentof "E.S^, and materially aid each other in carrying out
any Bchemes which either may have in view. Hence we think
it highly improbable that this treaty is designed to se-
cure and perpetuate peace and good will among nations, by
holding in check the belligerent tendencies of such of
'the smaller powers as might otherwise choose to go to
war among themselves. "Peace alliances" of this kind
have always done more to disturb than to assure the peace of
Europe. Besides, governments which want peace do not busy
themselves with vast and costly preparations for war, and neither
Russia nor Germany have so fully achieved the end and aim of
their respective policies as to render it probable that they will
emplov their vast armies merely as an international police to
keep other nations from quarrelling. We cannot, therefore
think such an alliance would be in the interest of peace, or tha
it is, from any point of view desirable.
Wabming APPAR.'i.TUS FOR PASSENGER CARS.—Within the
short space of two weeks three railway accidents have happened
in which the horrors necessarily attending the destruction of
rapidly running trains were aggravated and intensified by the fact
that the shattered cars were set on fire before the dead and
wounded could be removed from the trains. Year after year
these same shocking scenes have been repeated, and each season
they appear to become more and more frequent. Is it not time,
therefore, that our raih'oad companies should be required by
State laws to devise some other means of warming passenger
cars than by the use of stoves, which are liable at any moment
to be torn from their fastenings and overturned, spilling their
contents over the highly inflammable'woodwork and upholstery ?
There are many ways of heating passenger cars at once better
and safer, and when applii>d, no more costly. The best of these
is, perhaps, the distribution by means of pipes laid along the
floors of the cars, of steam generated in boilers, so placed that
the overturning or destruction of a car or train would not scatter
burning coals. This system has been successfully introduced in
the palace cars running upon several of our roads, and what is
practicable in cars of one class is practicable in cars of all classes.
In Europe several other systems have been employed, generally
with satisfactory results. There is, therefore, no reason why our
railrotid companies should not make the desired change, and not,
as under the present system, add so much to the ordinary dangers
of travel ty rail.
Subsidies to Steamship Lines—The China Line.—Ageneral policy of granting subsidies to lines of steamships, wehave never defended ; but the action on Thursday of the Senate
Committee en Post Offices and Post Koads, agreeing to report
favorably the bill doubling the mail service and subsidy for the
line between the United States and China, we heartily approve of,
and think it will meet with quite general favor. The importance
of that service is readily appreciated, opening to this country, as
it already hds, the eastern trade, which not only is a benefit in
itself, but is also furnishing business for our Pacific roads, in
which onr Government is so largely interested. At present the
infrequency of the communication with China serves as a checkupon the development of that trade ; doubling the service will
thus largely tend to give it the impetus needed. The questionalso of paying this line an additional subsidy is very different
from offering it to a line not yet established. These Chinasteamers are already doing a successful business, and thisassistance granted by the Government will not therefore be lost
or be of doubtful effect, but will actually enlarge the service andensure the more rapid acquisition of the trade desired. And inthis connection the attitude of the Chinese and Japanese towardthe United States is quite an interesting feature. They appear tolook upon us as the coming nation, and are ripe for the changewhich, we think, with proper encouragement from ourselves is
sure to come.
Crvii, Service Keform.—A large number of merchants ofthis and other States have signed a memorial to Congress askingthe early attention of Congress to three subjects : First, appoint-ments to and removals from public office, both of which, as thepetitioners claim, should be made with reference to the honestyefficiency, and capability of the applicant or incumbent. Second'the salaries of jublic officers, which the petitioners claim shouldbe commensurate to the responsibilitieB of the office and thecapacity of those appointed to fill them. Third, the siezure andRTamination of private books and accounts, which is now done in
A mannei which .i« a direct violatioa of private rights nad & dis-
grace to a free country. The petition bears the signatures of four
hundred and fifty of our best houses and responsible business
firms, and we are satisfied it asks for nothing but such reforms as
are universally admitted to be necessary to secure a pure and
efficient civil service,and further that it represents the views of the
best and most influential classes of the business community, not
in New York alone, but in all parts of the country, for the signers
reside in twenty-one different States. Congress has repeatedly
discussed, though without reaching the point of definite action,
these very reforms, and we hope it will regard the petition
referred to as entitled to serious and immediate consideration.
CHANCES IiN THE REDEEMING AGENTS OP NATIONAL BANKSThe following are the changes in the Redeeming Agents of
National Banks since the 1st of February, 1873. These weeklychanges are furnished by, and published in accordance with, anarrangement made with the Comptroller of the Currency :
2.—National bank currency in circulation ; fractional currencyreceived from the Currency Bureau by U. S. Treasurer, and dis-tributed weekly ; also the amount of le<{al tenders distributed :
ronEiaN imports at mkw tobk tob ths thk.
1869.
Dry goods $2,7:14,«i7
Ckmwal nierchaudiae
Total for tne week,
.
Prevloualy reported ....
Since Jan. 1
2,4%, 120
$5,2.30.317
15,356,187
1870.
$2,813,5133 491,913
$6.3.38.518
13,956,817
1871.
$1,475,6.31
8,176,212
$4,051,87620,937,030
1872.
$3,3.52,748
0,213,375
$9,696,12329,834,001
. $20,586,534 i $20,295,3.3.5 U $25,588,900 :$39,4.30,124
In our report ot the dry goods trade will be found the Imports of
dry goods for one week later.
The following is a statement of the exports (exclusive of specie)
from the port of New York to foreign ports, for the week endingFebruary C
columns will be found a detailed statement of this reniarkal)le
company for the year ending December ol, 1871. During that
period the total premiums were $7,440,453 09. of which amount$0,375,793 24 was marked ofl" as earned, $2,735,980 63 was paid
for losses, and $973,811 84 for expenses and return premiums.The total assets of the company are $14,608,813 37.
Six per cent interest on the outstanding certificats of profit
will be paid to the holders thereof, or their legal representatives,
on and after Tuesday, the six of February next.
The outstanding certificates of the issue of 1868 will be re-
deemed and paid to tlie holders thereof, or their legal representa-
tives, on and after Tuesday the sixth of February next, fromwhich date all interest thereon will cease. The certificates to beproduced at the time of payment and cancelled. Upon certificates
which were issued (in red scrip) for gold premiums, such paymentof interest and redemption will be in gold.
A dividend of forty per cent is declared on the net earned pre-
miums of the company for the year ending Dec. Slst, 1871, for
which certificates will be issued on and after Tuesday, the secondof April next.
The wonderful success of this company reflects great credit
upon the gentlemen who have for so many years guided its
fortunes, viz.; John D. Jones, Esq., President ; Charles Dennis,
Esq., Vice-President ; W, H. H. Moore, Esq., Second Vice-Presi-
dent, and J H. Chapman, Esq., Secretary.
The ;New York lilfe Insnrance Company.—The annualstatement of this large and popular co!n]>nny will be found in
our columns to-day. It makes an exhibit with which its policy-
holders may well be gratified, and which its otHcers huve good
, reason to be proud of. The assets of this company have increased
1.5.710,500 871,474 100 ..'.;| during the last ten years from $3,.500,000 to nearly $20,000,000-
ToUl for the week $13,137Previously reported 94,052
ToUl since January 1, 1872....^ $107,186
Same time In I Same time In1871 $194,774 1868 $1.32,6161870 2,030,238 1867 155,6141899 600.794
1
National Treasury.—The following forms present a summaryof certain weekly transactions at the National Treasury and Cus-tom House-
1.—Securities held by the U. 8. Treasurer In trust for Nationalbanks and balance in the Treasury
:
For U, 8.Deposits.15,833.3001.5,927,500
1.5.716,50a
,—Bal. in Treasury.-,Total. Coin. Currency.
.370,965,950
371,500,000
Coin cor-tiflcates.
out8t'd*g.
;.'.5(to 372b67,!sob l63,456,dd6 8^889,606 21 84b 606 The number of policies issued by it during the last vear is 8,908,..111") 372,7.->K,700 98,781,000 9,412,0(10 19,891,000 i insuring Over §34,000,000, An annual dividend has been de-
373,223,7^^'^^"* »'»"•«" "<"*«*
1 clared from its divisibU surplus of nearly $1,500,000. Such a
874,293,'450 ..'..'..'.'..'.' .'.'.'.'.' Statement as this speaks loudly in favor of the prudence and zeal
874,291,900 89,.580,000 5,294,879 32,5,5.5;66o ' with which tlie business nianaRement of this company has been
875,8m;wo ^:***'T'''*''^ 16,261,000 • conducted. The New York Life has age and experience, and i.s
375l752'l49 .'!!!!!!.'!!"' well known to be one of the soundest corporations in thecountry,
. . 375,865,060 88,591,oiDO 8,'m,6bb' sil),60".666 and the efficiency of management which has secured it such 8uc-
jSly«• ^•'^''•*^ 15,810,600 375,873,900 85,736,000 8,807,000 21,619.000 I cesB in the past is a sufficient warrant for the expectation of con-
July 29!! 361,760.550 is.Voe.SOO 877,5»7',060 '.'.'.'.'.'.'.'.'.'.Itinned prosperity in the future. The list of directors includes a
877,836,850 86,6«0,ooo 6,.332,bbb "l9,6bL6o6jnumber of ilie most esteemed business men of New lork, and its
IS'^'C <«iWT«imli ..-kb/AAi .oiiVAA;. ' officers, Mr. Morris Franklin and Mr. William H Beers, are well378,977,8W 90.076,000 4,524,000 18,924,000
|^nown among the leading insurance men of the day.
Diagram" showing the highest and lowest prices of 3 per cent
coDsols in London, and the amount of the English debt in each
year from 1789 to 1870, inclusive, with various other items ot
financial information of great interest. This chart will be found
exceedingly valuable to all persons interested in the financial
history of Great Britain.
BANKING AND FINANCIAL.
ST. JOSEPH AND DENVER CITT RAILROAD COMPANY'S
FIRST raOBTOAGK SINKING FITNB I-ANI> CHANTBONDS,
BEARING EiaHT PER CENT. (8 p. C.) INTEREST PATABLB IN GOLD,
FREE OF TAX,
AND IN Denominations op $1,000, f500 and $100,
can be obtained from the undersigned, or through the principal
banks and bankers throughout the United States.
The attractive features of these Securities are recognized in the
fact, that, although they have been but a short time on the market,
they are nearly all absorbed, and but a small amount are now for
sale.
They combine a perfect security with a liberal rate of interest.
This interest account is made light for, and easily borne by, the
Company through the operation of the Sinking Fund created
from sales of the Company's land, which in many cases draw in-
terest at the rate of ten (10) per cent, per annum. The security
behind them is ample in every particular, as they constitute a first
and only mortgage on a trunk line of railroad which will soon
connect the city of St. Joseph, Mo., (an important railway centre),
with the Union Pacific Railroad at Fort Kearney, materially
shortening the distance between the Atlantic and Pacific coasts.
In addition to this, the bonds have a further security in the fact
that there is included in the Mortgage the Company's magnificent
Lands, amounting to 1,500,000 acres, known to be among the best
in the United States. The Mortgage indenture prohibits the sale
of these lands at less than Four (4) Dollars per acre, and payable
to the Trustees under the Mortgage, for the clear and express
purpose of retiring these Bonds. The amount thus realized ex-
ceeds the entire amount of Bonds which can be issued, and leaves
the road, property and franchises free.
The Bonds have thirty years to run, with interest at Eight Per
Cent., free of tax, payable February and August in each year.
Both principal and interest are payable in gold.
The principal in New York. The interest in either New York,
London or Frankfon-on-the-Main, at the option of the holder,
without notice, and in the gold currency of the country in whichthey are presented. They are coupons or registered.
Trustees—Farmers' Loan and Trust Company.The present price of these bonds is 97i and accrued interest in
C!<rreJM;^, from August 15, 1871. But they are receivable at parand accrued interest in payment for lands sold by the Company.The right is reserved to advance the present selling price withoutnotice.
Maps, circulars, documents and full information furnished onapplication.
Tlumgli acting as agentsfor the sale of this loan, our firm buyand sell in their regular business the bonds of the St. Joseph andDenver City liaUroad Company, those of the Eastern Dividon eightper cent. (8»), recently placed by us at 07i, being now quoted atfrom lOH to 102^ and accrued interest.
TANNER & CO.,
Bankere, No. 11 Wall street.
New York, February 3, 1872.—We recommend as a safe and sure investment the Six Per
Cent Bonds op the Chesapeake and Ohio R. R. Companyinterest payable in gold coin May and November ; denominations|100, $500, $1,000. Present price 94 and accrued interest.
Also, the Central Pacific Bonds, interest six per cent, gold,January and July
; denominations, $1,000. Market price t(Miay,
We buy and sell Government Securities, aad execute orders atthe Stock Exchange; allow Inlerest (at 4 per cent on deposits
)
make collections, &c., &c.
Habvet Fibk. FISK & HATCH.A. S. Hatch. 5 Nassau street.
HOUSTON AND TEXAS CENTRAL RAILWAY COMPANYLAND GRANT, SINKING FUND,
SeTen Per Cent Gold Bonds,For sale at 90, and accrued interest, by
JOHN J, CISCO & SON, €9 Wall strwt.
—MESSRS. WINSLOW, LANIER & CO., No. 27 Pine Street
offer for sale the First Mortgage 7 Per Cent. Gold Bonds of the
GRAND KAPIDS AND INDIANA RAILROAD COMPANY,
free of Government tax. Interest payable in New York, April
and October, coupons registered.
236 miles of the road are now completed and running, earning
the interest on the whole issue, which is also secured by a Land
Grant of Eleven Hundred and Sixty Thousand acres of Lumber
Land in the State of Michigan, worth from Ttn to Twelve Mil
lion Dollars. The land is now selling rapidly at an average price
of $15 per acre, and the proceeds invested in the repurchase of
the Bonds.
Less than half a million of the whole issue of Eight Millions
remains unsold and the price has been advanced to 96 per cent,
and accrued interest.
Banking House op Henry Clews & Co., I
82 Wall street, N. Y. f
Circular Notes and Letters of Credit for travelers ; also. Commercial Credits issued, available throughout the world.
Bills of Exchange on the Imperial Bank of London, National
Bank of Scotland, Provincial Bank of Ireland and all their
branches.
Telegraphic Transfers of money on Europe, San Francisco, and
the West Indies.
Deposit accounts received in either Currency or Coin, subject to
check at sight, which pass through the Clearing-House as if drawn
upon any city bank ; interest allowed on all daily balances
;
Certificates of Deposit issued, bearing interest at current rate;
Notes and Drafts collected.
State, City, and Railroad Loans negotiated.
CLEWS, HABICHT & Co.,
11 Old Broad Street, London.
4.[\t IB ankers' ®autte.DIVIDENItS.
The followine Dividends have been declared during the past week
:
CoatPANT.PbrCbnt.
WhenP'ABLB.
Books Closed.
Insurance.New York Fire 8
6on dem.on dem.Exchange Fire
FsmAT Evening. Feb. 9, 18'iS.
The Money market.—There has been an abundant supply of
loanable funds during most of the week, and business has gener-
ally been done on a basis of 6@7 per cent, with exceptions at 5,
and sometimes at 4 per cent. There have been some periods of
temporary disturbance, however, and on Tuesday afternoon and
early Wednesday, money was stringent among stock brokers,
with rates up to 7 per cent gold, and in some cases a commission
also paid, in addition. The market subsequently relaxed, and the
temporary stringency was attributed to manipulation for specula-
tive purposes.
The sharp discussion which has occurred in regard to the Ala-
bama claims and the possibility of trouble with England, followed
by -a depression in the London market, has given rise to a
Blight feeling of anxiety here, but not sufficient to aflfect our
money market. There is no such attitude of hostility on the part
of the Government in either country as to warrant any excitement
or talk of probable war ; and it is in the highest degree probable
that all the questions of difference will be easily adjusted by nego-
tiation within a short tune.
The last bank statement showed a decrease of $955,225 in the
excess above legal reserve, and a further decrease in specie. Theliabilities stood at $249,125,400, and the total reserve at $70,.551,-
900, being $8,270,500 in excess of 35 per cent of the liabilities.
The following statement shows the changes from previous
week, and a comparison with 1871 and 1870
:
ISflO.
Feb. S.
$264,314,11988,997,24688.74'>,481
214,739,17958.346,384
The demand for commercial paper has not been as active as last
week, in consequence of the slight irregularity in the moneymarket. The supply of paper offering is not large, however, andthe demand for accommodation seems to be unusually light fromthe mercantile community.
Commercial, first class endorsed 60 days." " " 4 months.
.6 months.single names 60 days."
iths.
per cent7 18....7 @ 7K7X® 8
8 9 99 ®12,4 to 6mont:
United States Bonds,_Govemment bonds were steady early
in the week, but have [since been depressed by the discussions in
regard to the Alabama claims, and the consequent weakness of
pnces in London. In this connection it may be remarked that the
February 10, 187 2.J THE CHRONICLE. 181
quotntiona received from London in the present period of dis-
turbance, ns often before at sucli timos, are not altogether reliable.
There are nhvaj-H parties who are IntcreHted in depressing |)ric<a,
and siioli parties by creating firtilious quotations by offering
small lots of securities after business hours, or in some othersimilar method, and then procuring such prices to be telegraphe<las " the market," frwinently succeed in making a temporary de-jireflsion to suit their own purposes. The cable reix)rts should bewatched, at these times, with the utmost care. The (closing pricesin London to-day at .'» P. M., were as follows: Consols i)l| formonev and 1)1^03 for the account. United States Five-twentybonds t863s, 91^; ISflos. old, 91i ; 1807s, 91i; ten-forties, 89. Thenew fives were quoted this morning at 88^, although quotationsat a late hour on Thursday professed to give the closing price at86j[.
The market here has declined about } to 1 per cent, on the oldbonds, in syniinUliy with London, and some of the foreign l)anker8hav<! been selling pretty freely, apparently in anticipation of thereturn of bonds from abroad. The sales, however, have beenpretty well met by a good demand from home buyers, and par-ticularly banks in the interior, who have been glad of the oppor-tunity to get bonds at lower prices.
At the close, there was a decidedly firmer tone, the largerholders of bonds were stiff, and parties who had been sellingwere making inquiries to repurchase.Prices bid daily, and the range since January 1, have been
:
Fob.3.
ta.tund, !S8l,cp.. loey' .1881, ro» tl48
Feb.5.
Feb.6.
««,ll«l, coup n.lH USX 115:5-iio'
108« lOSXIMV 114«S 115!?
- JO'BlSea, conn..Call Bonds, l»n,c lUM UIK HIS mS lU'vao's 1861, coop... iiox iiou uux now no— iui< ni!^
iioS iios112
Feb. Feb. Feb. . Since .lanoBrT 1.
—
7. 8. ». ^Lowest.-^ .—Highest.
-
108X l«x t07XFeb. 9 llOMTJan. ;
lUX in Ulij Jan. 4 114K Jan.1I4X 114V lUXJan. S 115X Jan.115
Closing prices of securities in London have been as follows :
Jan.26.
Feb.2.
Feb.9.
since J aLowest.
nuary 1. ,
Highest.
(7,8. (s, S-aOs, '62 92X98X
92X92X
91X
11^
91X Feb. 9
91X Feb. 989 Feb. 9
92X Jan. 17
94X Jan. 292)5 Jan. 17
U. S.»»,S-30», -67n.S. 5s, 10-408
State and Railroad Bond».-There has not been much gen-eral activity in Southern State bonds, though transactions to-dayin new South Carolinas were large at advancing prices. Virginiaconsols and deferred certificates also close higher than last week.A despatch from Missouri states that the resolution to pay the oldbonds in currency has passed the House over the Governor's veto.Railroad bonds continue to rule firm, though hardly as active asin January. These securities, the best class of them at least, arenot much Influenced by the ordinary causes which disturb theother financial markets.Prices bid daily, and the range since January 1, have been:
Feb.3.
SsTenn., old88 Tenn., new6fl N. Car., old88 N. Car., new...6« Vlrg., old... *." '* consolld'd" " deferred..
<• 8. C, n, J. «: J.esMlisonrl »4VCent. Pac. gold.. 103XtTn.PaclsF. ---
Un. Pac.L'dOr'tITn. P. Income ...N.T. Cen, ds, tSSS.Erie Ist m. ,8
N.J. Cen Ist m 78 W»\Ft Wayne Ist m 78 105Chic* NW. 8f 78 "Rocic l8ld 1st m 78
has been unsettled, and, upon the whole, weak, though prices atthe close showed more steadiness and were ^1 per cent, betterthan at the lowest point of the week. On Saturday, the 3d inst.,the day following that upon which our last report was written,stocks were firm and gave the appparance of much strength thisweek
;but with some uncertainty in regard to the position of lead-
ing operators, and a threatening at times of artificial stringency inthe money market, and also the disturbed condition of foreignaffairs, prices have been feverish and irregular, working downfrom 1 to 2 per cent., and touching about the lowest point onThursday, since which there has been a reaction as above noticed.It IS not certain that the general position of the market haschanged, and the decline which has taken flace may be used as abasis for higher prices hereafter.
Railroad earnings, so far as reported for the month of Januaryare favorable, as vnW be seen in the following table :
RULBOAB EAKKnieB IW JAHUABT.
J872.
Central Pacific $6S4,4w'Chicago <£ Alton .372 316Cleve. Col., CIn. & Ind .387 .M8Lake Shore <fcMich. S l,3fti'760Marietta &, Cincinnati 152,577Michigan Central* 501 862Milwaukee & St. Paul 460 988Pacinc of Miesonri* 229,8078t Louis and Iron Monntain 173 7078t. Louls^Alton & T. H* 145,368Toledo, Wabash & Western 439,780
The Gold inarket.—The gold market, which we have noticed
recently as having a firmer tone, under the influence of the move-ments of some leading operators, has received a further impetusin the discussion of our treaty relations with England. With this
source of strength, assisted by a slight scarcity of cash gold for
borrowing, the price has been up to 110}, though reacting to-day,
and closing at llOJ. It is hardly too much to say that war withEngland is generally considered by our leading financial men ashighly improbable ; and the influence npon gold may have alreadybeen fully discounted. Rates for carrying have ranged from" flat " to 7 gold, and to-day were 6, 7, (H. 5. '"^^ 3 per cent.
The Assistant Treasurer sold $1,000,000 on Wednesday, bids
amounting to $3,695,000. He has now paid out on account of
5-30s redeemed, a total of $34,395,000, and on account of Januaryinterest, $16,751,000.Customs receipts this week amount to $3,373,000.The following table will show the course of the gold premium
each day of the past week
:
Qnotatlons.-Open- Low- High- CloB- Totaling. est. est. ing. Clearings,
Dimes and hall dimes.. — 96X® — 98Five irancs —95 ® — 96Francs — 19 a — 19XKngllsh sliver 4 75 ® 4 84Prussian thalers —70 ® — 72 r^
Specie thalers 104 @ 106Mexican dollars 1 OSX® 1 04XSpanish dollars 2@3 p. c. premlnmSouth American dollars par
Foreign Exchange.—During the early days of the week exchange was dull and business done at \@i concession on the nom-inal rates. But on Thursday the market became decidedly firmer,
and some very large purchases were made by a foreign bankinghouse, probably in anticipation of a return of bonds to this marketfrom abroad. The negotiation of bonds abroad, and the large
purchases of railroad and other securities here for foreign account,which have been made since the first of January, have heretofore
depressed prices. As to the cotton crop, it must be rememberedthat there is much yet to go forward, and if present prices are
Fourth National 5,000,000 20,78S203 1.894,600 2,397,300 ;7..^37.9O0 3.364.600Oentral National 3,000,000 9,272,000
"'
gacondNailonal HOO.OOO 1,457,500Ninth National 1.500.000 6,s90,(;ooKirst National 500.000 4,413.000Third National 1.000.000 5,973.200NewTork N. Exchange 500.000 1,216,300Tenth Natlomii 1,000.000 2,307,600BpweryNational 2.5O.0O0 9nS,500Mew York County 2i,0,000 1 (13.3.2"0uerman American l.OOO.OOO 4,000,000Dry (joods 1.000,000 1,621,400
Montgoinery&WeBtP..l8t,8B„do do iBt end.do do Income
Montgom.A Eufaula ist 88, gldend. by State of Alabama...
Mobile & Mont.. 8s gold, end .
.
Mobile & Ohio sterlingdo do do ex clfs.
do do 8b, Interest,dododo
dododo
2 nitg, 8b.
income
.
stock..
Bid.
N. Orleans & Jacke., l8t M. 8b.
do do 2ddo do cert'B.oo.
N. Orleans & Opelous.lBtM.SsNorth & S. Ala, 1st M., 88, endNashville A Chattanooga, 68..
.
Norfolk* Petersburg Ist m.,iip
do do 78
do do 2d mo., 8t
NortheaBtern.S.C.lst M.88. ..
do 2d M. ,8sOrange and Alex., Ists, 6b
do 2ds, 6sdo Sds, 8s
do 4tbB,88Orange & Alex. & Man. Ists. ..
Rlchm'd & Pctcvb'g Ist m., 7b .
do do 2d nl., 6s
do do 8d ni.. 8b.
Rich., Fre'ksb'g & Poto. 68. . .
.
do do do conv. 78
do do do do 6s.
Rich, and Danv. 1st cons^d 6b.
do Piedmont 88. ..
do Ists, 88Selma, Rome* I)., 1st M.,7b.,Southaide, Vb.. Ist mtg. Sb
do 2d m., Biiart'd 68...
do 3d ni..6sdo 4thni.,88
Southwest. RR., Ga„ ist mtg,..do stock
Siwrtensbur. * Union 7s, guar-
S. Carolina r.K. 6s (new)t\o do 7b (new)(U) do stock
Va. & Tenn. IstB. 68
do 2ds, 6s
do 3dB 8s
West All*., 88 guar.Wilmingr-on and W eldon 7«
—
do 4ih& Rutb.lst n), enddo do 1st M„ 8k
Past Due coupons.
TennesBee State CouponsVirginia Coupons. ,
do do deferred..Memphis City CouponsNa«iville City Coupona
Ask,
8087
fO"92HEU68M81
ay32959260657(1
4492808894955262
456090
/"-February 10, 1372.] THE CHROXTOLE. 1884
GENERAL QUOTATIONS OF STOCKS AND BONDg.
4cllvo Htocks and Bonds slven on a Prcvlona Page are not nepealed here. Quotation* In New York are made oi tbe
Per Cent Value, Whatever the Par majr be. Southern, CItjr and Itallroad Sccurltlea are ((noted In a Separate liiat.
•TOOKt AND •aonaiTiat. Btd, Aak.
t»H9057449390
8979
SJX
•il
:«H12H92
w"
»2H
NBW YORK.IV. S. BoDiU quoMd b«rora.)
State Bond**Tennuase <•, olddo do new bonds
VlrRlnlkaa.oldAo do ncvDondsfto do reirlBterod old
—
do do do 18M....
do do do 186]....
do do consol. bondsdo do deferred do
UeorKl A Afl
do 78, new bondsdo 79, endorseddo 78,(!old
North Carolina 60, olddo do FnadlnKAct, 18M.do do do 18(8.
do do now bondsdo do Special Tax
South Carolina'^do do Jan. A July...do do April* Uct...
Missouri 6sdo Han. A St. Joseph.
Louisiana 68do ncwbondsdo 68, new floating debt.do 6s, levee bondsdo 8s dodo 88 do 1879..do 7s, Penitentiarydo 8s of 1910.
California 78do 7s. largo bonds -
Connecticut fle lOORhode Island 6s IftJJe
Alabama 5sdo 8sdo 8s Mont & F.ut'la Itdo 8s, Mab. tc Chat. K
Arkansas 6s, fundeddo 7s,l,. R. A Ft. S.iss.do 7s, .Memnhts * L. R-do 7», L.K.,T. B.*N.O.do 78. MISS.O.AK. RlT.do 78Arl<.CentR
Texas, ICs, of IS7«0010 68,1875do 6s, 1881do 6e, 1886
Kentucky 6sIllinois canal bonds. 1970
do 68 coupon, T7do do 1879do War Loan.........
Indiana 5eMichigan 6s, 1873
do «8,18J8do 68,1883do "8.1878
New York Bounty, regdo do condo 68, Canal, IS^ado "- '-
MM
•TooKs Airs otnuTue.
dododododododo
<8,6s,6s,
<8,6s,
58,
58,58,
dodododododododo
1873.,
1874..1875..18T7..1878..1874..i!!';9.
1876.
NBallroad Bonds.T. Central 68, 1888
do 6e,lS87do 6s, real estate. .
.
do 6e, subscription.do 78.1876....'do 7b, conv. 187». . .
.
do 78,1865-76Erie Isl Mortgage Kxtendeddo 1st do Endorseddo 7s,Jd do 1879do 7e,3(i do 1888do 'h,4th do 1880do 7s,5th do 1888Long Dock BondsButt. N. Y. & K. I8t M., 1877.
.
Hud. K. 78, 2d M.S. F. 1885...,do "8, 3d .Mort., 1875,
Harlem, ut Mortgage 78. . . .
do Oon.M.*S^kgr'd68.Albany A Snsqh'a, Ist bonds.
.
do do Sd do ..
do ,do 8d do ..Mich. Cent., ist M. 8s, 1832Chic, Unr. 4 Q. 8 p. c. 1st M..Hlch. So. 7 per ct. 2d MortMich. 8. ft N IS. F. 7p.cPaclflc K. 7b jtuartM hy Mo..Central Paclllc gold Bonds.
.
Union Paclflc Ist M'go Bondsdo Land Qrants, 78do lucomelOs
Illinois Central 7 p. ct., 1875nelle»uo & S.Ills. R. IstM. 8'8Alton * T. H., ist M ....do do VdMpref..!"'do dp 2d M. Income..
Chic. * N. Western 8. Fund,do do Int. Bondfdo do Coiisol. brtf•JO do Kxtn. Bd^
,. ''".-... ."I? Ist Mort.,
Han. A bt. Jo. Land Grants. .
.
do do convartihleUsI., Lack. A Western, l»t M,. ,"£ ™ . •"> ^d .M.,Tol. ft Wab'h, 1st Mort. exfd
do IstM.StLdlTdo 2d Mortdo Kqnip.Bds....
u !l°,^.. tons. ConvertHannibal & Nap^o, ],( mOreat Western, I«t M., 1wi
'
'
„ ,do 2dM. 1893...;
QnlncT A Tol.. Ist M.. 1890.111. ft So. Iowa, 1st Mortttiuena ft Chicago Extended„ do 2't Mort.Chic. K Island* Paclflc..':.:Morris ft Ksiex, ist Mortfi °° ^^ ''" 2dMort. :.:.Clcre. ft Tol. sinking FundN-'W Jersey Central, 1st M., n
PH4%t.w."i°chic.,».:';5? do 2d Mort.J? 5°. 3d Mort.
107H108-,
i6i"
100
106X106H106lUK106ItW106106101101
100
98
33X01
SIX101
9907B2J4
n's92)i107
131101
«
93lOSM
i:7>«
99ji
100
-12X91
H
80 )»
S6H
93»J88S78HlOOX
93)i
103
97H105
100
S**90h94>,a«
88'
99
89H91
91•Mimaloas:o6
99X
IMX
MSX
Clore. * FICU., Consol. S. F'd.do do 2d Mortdo do tdMort.1(1 do 4th Mort
Chic. * Alton Sinking Fund.,do do 1st Mortgage...do do Income
Ohio ft Miss., 1st Mortgage....do Consolidated—do 2d do —
St. L. ft Iron Mountain, let M.Mil. ft St. Paul, Ist Mort. 8s.
.
do do do 7 3-10
do do 1st Mortdo do I.*M. ddo do 2d M
Marlolta* Cln., Ist MortChic, ft .Milwaukee lat Mort...Joiletft Chicago, l8t Mort....Chic. * Ot Eastern, 1st Mort..Col., Chic. * Ind., 1st Mort....
do do 2d MoriTol., Peoria * Warsaw, E, D..
do do W. D..do do Buri'n Div.do do 2d M..
New York ft N. Haven 68Boston, H. ft Erie, 1st mort. ..
do do guaranteedCedar Fslls ft Minn., 1st M...Detroit, Monroe & Tol bondsLake Snore niv. bondsCleve. ft Tol., new bondsClevB., P'ville ft Ash.,newbd8.
California ft Oregon, e'a, gld,.St. Jos & Denver E.D.. 8s, goldDanville & Urbana. Ist, 78 gld.Indianapolis ft West, 1st, 7b gldSt. L.. & St. Joseph. I8t.6e, gldLake Sup. ft Miss, let 7's, gldSouthern Minnesota. (*'s
Rwktor.l, I! I. ft St. L. 78, gldChic. Bur. ft Quincv 1st M,78Keokuk ft St. Paul, 88. . . . l q.^Carthage 4 Bur. 8a . . ' -Dixon, Peoria ft IlHn., 8sO.O. ft Fox R. Valley 8sQntncy ft Warsaw, 88 ..
III. Grand TrmkChic, Dub. A Minn. ,88.., _Burlington A M., Land M.,7s.
do do 2d S., do 7b
1-83
noBEjig
dodododo
dodododo
3d S., do 8g.
4th S.,do 8s.5th 8.. do 8s,
6th S., do 8s.Burl, ft M. (in Neb.) iBt conv.Qoincy ft Palmyra, 8bKansas City A C.. 10bSt. Jo. ft C.Bl. IstM., IDsMo. H., Ft., 8. A Gulf, stock.
.
do do IBt. M,10«do do 2d M., 108
Leav Law. A Ual., Block....do do 1st M., 10b..
Michigan Air Line, 88.lackson, Lansing ft S.. 8sFt. Wayne. Jackson ft 8., 88. .
,
Grand Rapids ft Ind, guar, 7's,Grand River Valley, 88..(nticft Mich. Lake, 8.,S8Detroit, Lansing A L,M,8s...,
Neiv Ijoana(Purchasers pay accrn'd int.)Atlanta ft lltchm Air Line, 8's.
Cayuga Lake, "s, goldr-.nes. ft Ohio RR, 1st M..6,(gd)I'lnn, ft MuskluK.Val. 78,l8tMCoTin Valley. 7sKvansvll v.. T.II. ft Ch1c,7'8gldGrand llanida ft Ind. 7b, gold.,llonaton k Texns Cent. 7'8 gldInternational of Texas, 78.goldLogansport. C. A S.W..88, goldMontelalr RR ol N. J. 78, goldKorthern Paclflc RR.7-30 goldN.Y ftOsw.MM.R.lstM.TYgd)NfiwJerspy Midland 7'a gohl..St. Jus. ft l>oliver(W.U).gld,8sWallklll Valley 18t M., gold, 7bRailroad Stocks.
(Not previously quoted.)Albany ft SusquenannaAtlantic ft PaclflcprefBoston. Hartford * ErieChicago A Alton
do do prefChic. Bur * QnincyClev., Col.. Cln. A Indlaaap
.
Cleve. A Plltaborg. gnarCentral of New Jersey, scrip.Col. Chic. A Ind. Central....Dftl., Lack. A WesternDubuque A Sioux Cityf»-<*uaiiwaTnreferred
g«100
988999
96'
9993
86K92
106X93)i
9994100K7101
91
"
63103,10
,10
93UK)
87X86823520869493LQ2
86)48667378443
979696lOOH100
100
111
n\sill
11198
99X93*1
»l I
106X1
90
4:x
100 !
96"100
100939694
96K108
OIX
163'
102
S6
noosi AVD •BODnrtat.
75 I
92X
161"I
lii"!95 I
loi;mm
ma8387
io'
BU.
98
98X98>,lO-.K102929«1021121:3112112
99«96110100
96'
9120
98)i110103
90104
»7«9094
909n909690909995100100
97X»7Hto
Harlemdo pref
Hartford * M. Havendo do scrip
Illinois CentralJuliet* ChicagoLong IslandMarietta A Cln.. Ist preferred
do do 2d pref.Morris ft EssexNew JerseyNew York A New Haven
do do scrip.N.Y., Prov. A BoBt (Stonlngt.)Ohio A MlBsissippt, preferred.Panamaputs., Ft W. AC'hlc.gnar...
do do special..Bensselaer A SaratogaBorne, Watertown A Ogdens.
.
St. Louis, Alton A T. Uante. .
.
do do pref.St. Louis ft Iron MountainSouth side, L.IToledo. Wab A Western, prof.
niacellaneous StocksAmerlcau CoalBoston Water PowerConsolidated CoalCumberland Coal of MdMarvlandCoalMariposa l)rpf
do 1st prefN.J. I.a'id Improvement Co..Pennsylvania CoalSpring Mountain CoalWllkesbarre CoalCanton CoDelaware A Hudson CanalAtlantic Mall SteamihlpMariposa Gold
do Trustees CertifQuicksilver preterredWells Fargo scrip
BOSTON.Maine 68
New Hampshire, 68Vermont esMaBsachnBettB 6b, Currency,.
do 68, Golddo 5b, Gold
BoBton 68do SB.gold
Chicago Sewerage'sdo Municipal 7b
Portland 68Burlington A Mo. L. G., 7Cheshire, 6Cln.. San. ft Clev., 1st M., 7, TI.Bastern Mass.. conv.. 6, 1874...Ogdcnsburgft Lake Ch. 8sHartford ft Erie, l8t M (ncw)7.
do do certiflcates...Old Col. A Newport Bde, 6, IS.
do do Bonds, 7, 1877..
Rutland, new, 7Verm't Cen., 1st M., cons., 7, '86
do 2dMort., 7, 1891.Vermont A Can., new, 8,
Vermont ft Mass., Ist M.,6, *83.
Boston ft Albany stockBoston ft Lowell stockBoston ft MaineBoston ft ProvidenceCheshire preferredCin., Sandusky A Clev. stock.ConcordConnecticut RiverConnecticut A Passumpsic, pf.(Eastern (Mass.)FitchburgIndianapolis. Cln. ft LafayetteManchester ft LawrenceNashua ft LowellKorthern ofNew Hampshire..Norwich ft WorcesterOgdens. ft L. Champlaln
do do pref....Old Colony A NewportPort.,Saco A PortsmouthRutland common
do preferredVermont A CanadaVermont A Massachnsetts
lUX
iS*-
97X
69H
Aa.
70X
STOocs An> tsotraiTiasI
119X
'i'x
saii
101 !<10^loix1(11
107X99
101
X
93
93M98
10!X
103
14J"88X92
109TO
144'
88X
m"22X108X
PHII<AI>EI,PIITA.Pennsylvania 5s, 1877
do Military Loan 68, 1871
do Stock Loan, 6B, '72-"77
do do 68, '77-'85
Philadelphia 6s, olddo 68, new
PlttBburg Compromise 4)^8. .
do do 58do Funded Debt 6« ...
Alleghany County, 5
do do 66, *85
Belvldere Delaware, ist M.,6.do do 2d M.,6.do do 3d M., 6.
Camden * Amboy, 6 of "75
do do 6of'83do do 6 of '89
do consol., 6 of '89.
.
Cam. A Bur. 4 Co.,lBt M., 6...CatawlBsa, 1st M.,7Blin. ft Wll'ms. 58do do 78,1880
Hunt. * Broad Top, ist M.. 7. .
.
do do 2d M.. 7, -TS...
do do Cons. M.. 7, '98.
Jnnc.,Phlla.,l8tM.,guar.6 '82.
Lehigh Valley, let M., fi, 11?1S..
do do ist (new) M.,6, '9-i.
Little Schuylkill. Ist M.,7, 1S77.
North Pennsyl.. Ist M., 6, 1880..
do Chattel M.. 10, ISK.do 2d Mortgage, 7
Oil Creek A Aiieg. B., Ist M., 7.
Pennsylvania, Ist M.,6, 1-80...
do 2d M.,6. 1875....
do Debentures, 6, '69-TlPblUdelphia A Reading, 6, -71.
Westch. A Phil.,l8t M.,conv,7.do do 2d M.,6, 1871,
West Jpr8ey.6,18SSWllining.*Kead..lBtM., 7,1900
do do idMort. 19IB.
Cheaa. A Delaw.,lBt M.-t/M..Delaware DIv., Ist M., 6, '78...Lehigh Navigation, 6, "TS
do Loanofl884,»,'84do Loan of 1887, 6, "97
do Gold Loan of '97, 6, •»)
do Convert, of 1877, 6, TIMorris, Ist M., 6, 1876
do Boat Loan. S. F.,7, "88
Schuylkill NaT., Ist M., 6. 1872.
do do 2dM.,6, 18K2..
do do Improv., 6, 1870,.
Camden A Amboy stockCatawlssa stock
do preferred stockElmira A WilllamsportElmira A WIlliamBport pref..Lehigh ValleyLittle BchnyiklliMine nill ft Schuylkill Haven.Northern CentralNorth I'ennsy IvaniaOil Creek ft Allegheny River.PennsylvaniaPhiladelphia F.riePhiladelphia ft TrentonPhlla., flerman. ft NorrlstownPhlla., Wllmlng. ft BaltimoreWest JerseyChesapeake ft Dela. Canal
—
Delaware Division CanalLehigh Coal and Navigation..Morris (consolidated)
do preterredSchnylkiU Navigat'n (consol).
do do pref.Snsqnehanna A Tide-Water..
.
West Jersey 7s, Jan. 4 July..
.
Penn A N. V. Canal
102
1(«X
106^
90X
97
82X
1711«
a**n91
*«tt
87X
9BX8|X
91>07982
;gx
C8X80'^**93107
7»X96
88V12393122174
38358048125
17
33IS102 S96
93S3X
BAI^TIinORE.Maryland 68, Jan., A.. J. A O,
,
do 6s, DetenceBaltimore 66 of '75
do 1884do 6«,:90Cdo 1890 Park 6s
Baltimore 4 Ohio 6s of '75
do do 68 of '90
do do 68 0t'85do (N. W.Va.)2dM.6Bdo 3dM. 68
Central Ohio. IstM.. 6Marietta A Cln., let M., 7, 1891
do do 2d M.,7, 1896Northern Cent., Ist M. (guar) 6
do do 2d M.. S. r.,«,'85.do do 3dM., S. F..6,190rdo do 3d M. (Y. ft C) e.V,do do Cons, (gold) «, 190(1
Pitts, ft ConnellsT., Ist M., 7, "98
do do 1st M., «, 18811
West Md, IstM., enrtor8ed,6, '90
do iBt M., nnend.j e, *90..
do 2d M., endorsed, 6, '90,
Baltimore ft Ohio stockParkcrsbnrg Branch
Central Ohiodo preferred
CINCINNATI.Cincinnati 5s
do 68do 7-308
Ham.Cc.Ohlofip.c. longhds,do do 7p.c.,l toSyrsdo do Ig bds, 7 A 7.3QS
Covington 4 Cin. BridgeCin., nam. A D., let M., 7, 80.
do do 2d M., 7, '85.
do do 3d M., 8,77.,Cin.* Indiana, let M.,7
do do 2d M.,7, 1877..Colum., ft Xenia, 1st M., 7, '90.
Dayton 4 Mich., IstM., 7 81
do do 2d M.,7, '84,
do do 3d M.,7, '88..
do To'do dep. bds,7,'81-'94Dayton 4 West., Ist M.,7, 1905.
do do l8tM„«, IMS,Ind., Cln. ft Laf., ist M.,7do (I.&C)lstM..7,188f
June. Cin. A Ind., lat M.. I, '85.
Little Miami. 1st M., 6, 1888 ....
Cin. Hani, ft Dayton stock..
.
(3oluml)UBft Xcnla stockDayton A Michigan stock
do 8 p c. Bt'k guarLittle Miami stock
I.OI7ISVIt,l.E.Louisville 6b, '82 to '87
do fi8,'97to'98do Water 6s, '87 to '89.
.
do Water Stock 6b, '97.
do Wharf 68do special tax 68 of '89.
leff., Mad.* I,lBtM.(lftM)7, '81
do do M M.,7. 1973do do lat M., 7,1906...
Lonisv. C. A Lex.. Ist M..7. '97.
LonlB. 4 Fr'k., lat M., 6, •70-'78.,
do Lonisv. Loan, 6. '81,
L. *Na»h.lBt M. (m.B.) 7. '77..
do Lor. Loan (m. 8.16. "Sft-'87
do do (Leb.Br.16,'86do lBtM.(Mem.Br)7.'70-"75.do l8tM.(Lch.hr.ex)7. 'SO-'as
do Lou.L'n(Leb.br.ex>«,'9Sdo COUBOI. Ist M.,7, 1898..,.
.TeffarBon., Mad. 4 IndLonisv., Cln. 4 Lex., pref
do do common,LoolSTlUe 4 Nashville
ST. Loris.St Louis 68, Long Bonds
do 68,Bhort doio watert*,KOlddo do do (new)do Park «• gold ... ..-
•Jo Sewer SpeclalTaxMNorth MlBBOurl, IstM.Ts...
do 2d M.Ta...55 MM.TB...
Pacific (otMo.) Ist M.,gld,
North Missouri stockKansas Pacino doHlMoari Faclflo 00 ...,'.
Ql\)t Maximal} iHonitor.LATEST INTEI.I.IOKNCB OF STATE, CITY AND
KAII.ROAD FINANCES.
tap- EXPLANATION OF STOCK AND HOND TABLES.1. Prlron or tlie most Active Stocka and Boada are Blven
111 tli<> "Itniiktirn' Onzptto," provlonnly. Full quotationB of all other nccnrl-tii't* will 1)1' foiiiHl on the two pr("c<»<liii){ paj;08.
2. Govcrnnipnl NerurltlcK, with full Information In rcRUrd to eachinBiK', ihi' |)irlii(l» "f Inliri'st puymint, 8lze or denomination of bonds, andnuniiroiis olhtr dcUIlK, nicflvin In the U. S, Debt utalemant published in
rond NmiritIrK, t.aa .Stock*, and City Honda, with quotations,will III- imhiiHlii'il tlw ilrsi three weoknof .Mfh moiilh.4. Tliv <'onii>|pte Table* or State Sernrillea, City Secnrl-
tles, aud Railroad and iniaerllaneon* Stork* and Bondawill be re;,'ularly piihliithed on the Iflst Saturday in ench month, with an intro-ductory article relating' to invcslmeuls in the several dilferent classes of!*ecurilie» embraced in these lista. The publication of these tables, occnpylngfotirtccn pages, requires the Issue of a supplement, ft-hich will be neatlystitched In with the re(^lar edition ; The Chronicle containing this sup-plement will be printed in safficlent nombers to supply regular subscribersonly.
Invcstmenta In Railroad Bonds—Prlcea of Bonda forFive Years,—On a subsequent page will be found the ^prices in
the months of May and June, for five years past, of all the leadin r
railroad bonds gold at the Stock Exchange. This publication is
made iu duo course, prices for all the other months having beengiven before, except July and August, which will be publishedereafter. The volume and page of The Chronicle, where the
prices for each month have been published, will be found in theintroduction to the table given below.Railroad EarnlnKs.—Reports of railroad earnings for January
come in rather slowly, but so far as yet received they are quitefavorable, and will be found in our regular table of comparativemonthly earnings, on a subsequent page. In consequence of thesnow-blockade, there is no definite report of Union Pacific earn-ings, but from the Central Pacific the remarkable statement ofan increase of $97,982 over the earnings of January, 1871, notwith-standing the fact that through traffic was interrupted nearly thewhole month by the blockade on the Union Pacific. The CentralPacific has shown a large increase in earnings from year to year,but this exhibit (or January, 1872, evinces more positive strengthin the position of the company than anything heretofore pub-lished. There has probably been an impression that thisroad was largely dependent upon through business, while thisdevelopment of earnings from local traffic (which is by far thebest business a railroad can have) shows that the company mightlive and flourish without any through traffic at all. The com-parative figures are as follows
:
For the month of .January, 1872 $634,480For the month of January, 1871 536,498For the month of January, 1870 418,104Increa-se this year over 1871 97,982Increase this year over 1870 221,376
Illlnola Railroad and Warebonae Commlsalonera Re-port ror 1870-71.—We regret that lack of space has preventedus from giving earlier attention to this report, which we havereceived with much satisfaction, as another step made towardsobtaining full and reliable information in regard to railroadafihirs. The railroads of Illinois have become famous for theirprosperity—at least this may be said in regard to a number of theleading lines—and the success of these roads has probably donemore to stimulate railroad building throughout the West, thanany other influence. The Commissioners—Messrs. GustavusKoerner, Richard P. Morgan, Jr., and David S. Hammond—havelabored assiduously to prepare a valuable report, though meetingwith numerous ditiflculties, the chief of which was the reluctanceof many companies to make returns, in consequence of theirclaim that the law requiring such returns is not constitutional.There has been much criticism upon the action of the Commis-sioners, a large part of it undoubtedly without foundation, but it
is possible that the board, in some minor points, may haveaddressed the companies too arbitrarily.
The true relations and obligations of a corporation, to the Stategovernment under which it exists, should become more definitelyand thoroughly understood. It would be a wretched policy forany State to persecute, or impede the legitimate business of its
large railroad companies, which add so immensely to the State'spro8j)erity. On the other hand, there .seems to be no reason whythe most complete and detailed information in regard to theafiairs of railroad, financial, insurance and trust corporations,should not be made at specified periods to the State authorities.These corporations hold franchises which are immensely valua-ble, and make all their profits out of the people, so that it seemseminently proper that they should be duly accountable to theLegislatures of their respective States. The work of obtainingreports from railroads is making good progress in various States,which have not until recently required any returns, and, we trust,the day is not distant, when a full report of the condition of everyrailroad in the United States will be made quarterly, or at leastsemi-annually, to the State authorities.
Brltlah Rail Export* for the Tear 1871.—Messrs.Heyerdahi.Schonberg &Co.,of No. 31 Pine street. New York, givethe following report of exports of rails from Great Britain,extracted from government returns :
^Twelve Months ending Dec. 31To— 1889. •»-» 'United States tons. 299,196Russia »46,162Anstrlan Territories 27,020British India 99,234British North America 28,772^eypt-v 6,278Australia 28 829
Brazil 8,911Holhtnd U,184Hpain and Canarlei 13,473Sweden <...... B.siil
Chili 4,823Spanish West India Island* 1 37<i
Peru 21,841Prance 4,481Qermany ,..., 80,3MOther countries ,. 6&,399
Total exports of iron and steel 2,880,723 2,816,575 3,171,881
nichlBan Town Railroad Bonda.—In the United StatesCircuit C'ourt yesterday morning, the cases of (Jeorge II. Taylorvs. The City of Battle Creek, and Edward B. Talcott vs. TheTownship of Pine Grove were decided. These cases involved thequestion of the validity of municipal bonds issued in aid of rail-
roads under the general railroad aid laws of Michigan. The for-
mer case arose In the Eastern district of Michigan and the latter
In the Western district. Both were argued together, a few daysago, in this city, before Judges Emmons of the Circuit Court,Withey of Ihe Western District Court, and Longyear of the East-ern District Court. All these judges participated in the decision,and all concurred.The opinion of the court was read by Judge Emmons, and was
a very learned and exhaustive discussion of all the points raised.He reviewed the decisions upon the question of the authority of
the Federal courts to go behind the decisions of the State courtsupon the construction of State constitutions and statutes Hediscussed at considerable length the public character of railroadcorporators, and dissected the decision of the Michigan SupremeCourt in the case of The People vs. Salem, in which they held theRailroad Aid law unconstitutional.He held that the bonds issued by municipalities in aid of rail-
roads, having been issued in good faith and transferred to thehands of innocent purchasers, are valid contracts as between thecitizens of Michigan and other States, which the Federal courtswill enforce. But this only applies to bonds issued before thelaw was declared uncpnstitutional by the State court. Contractsmade subsequent to that decision will not be enforced by this court.
Judges Withey and Longyear read concurring opinions.
The result of this decision, if it is confirmed, as it will doubtlessbe, in the United States Supreme Court, is that the railroad aidbonds are valid in tiie hands of non-residents of Michigan, andcan be collected through the United States courts. It will notthen take long to transfer every bond from the hands of Michi-gan holders to those of non-residents, when their collection can beenforced. As this can only be done by a process of the courts,
which process would have to be invoked to collect any instalmentof interest, it will be seen that some trouble and considerable ex-
pense will still accrue to municipalities before these bonds can begot rid of. But by this decision they are saved from repudiation,
and innocent bondholders are made whole. Doubtless it wovUd bebetter for the municipalities to confess judgment at onje on thewhole amount of their bonds, and thus save the costs of goingthrough litigation iu each case.
It is estimated that the amount of bonds isstied by cities andtownships in Michigan in aid of railroads, and which are coveredby this decision, is $1,500,000. Very many of these are now heldoutside the State, and the balance will soon find their way out.
—
Detroit Post, Jan. 17.
Report or the Philadelpbla, AVIImlngton and BaltimoreRailroad.—The directors of this road submit to the stockholdersthe following statement of the operations of their road for theyear ending October 31, 1871
:
From passengers $1,632,820 03From freight and express 1,044,760 50From rents 8,265 90From mail and miscellaneous 93,018 63
$2,678,865 06Newcastle and Frenchtown Railroad :
From passengers $25,014 22From freight 57,780 60Prom mail. 881 24
$83,676 06
Total earnings of both roads r$2,762,541 12The following are the expenditures of the Philadelphia, Wil-
mington aud Baltimore Railroad for the year ending October 31,1871:For interest on bonded debt, ground rent, &c., leas
interest received $84,800 62For operating expenses, inclndiog State and localtaxes 1,692,598 42
Newcastle and Frenchtown Railroad
:
Operating expenses $61,920 29Tax and bonus to State of Delaware andNewcastle County 11,000 00
$1,777,899 04
$72,920 39-$I,8G0,S19 33
Total expenditures of botli roads $1,860,319 Si
Net earnings for the year $913,22179Dividends of 4 per cent and United States tax were paid, viz
;
Due December 31, 1870, from net earnings for six months endingOctobcr31, 1870 $392,334 36
Due July 1, 1871, from not earnings for six months ending April80, 1871 7 .....'.. 449,24838
$841,587 6»10,328 96United States tax paid nnder protest
^1,910 8»The gross receipts were larger than those of 1870 by $117,-
242 24, and the operating expenses exceeded Jthose of 1870 by$67,333 67. A large portion of the increased bualneas wagderived from the transportation of fruit and vegetables from the
Delaware Railroad and its feeders.
186 THE CHRONICLE. [February 10, 1872.
PRICES OF RAILROAD BONDS IN MAY AND JUNB FOR FIVE YEARS, IS67—1871.
We continue this week, in the following table, our compilation of the highest and lowest prices of all leading railroad
bonds civinc at present, the months of May and June for five years (to be followed by July and August
hereafter) Prices in the same shape for January and February were published in the Chronicle, vol. 13, page 530 ;
for March and April in vol. 13, page 841; for September and October in vol. 13, page 489; for NovembeDecember in vol. 13 page 668. In order to make this table ot prices more valuable, quotations of the money m_„ _-_L 1. .e .uJ '.,... I, i,.,„„ v,oon aAAati and «lso the range of gold. Iroin January 1. ]8fi7 tn Moynh ha
er andmoney market
in each week of the month have been added, and also the range ol gol . ...... , _ ,„„.^,, ^„^ ^„^„^
the prices of railroad bonds are made from actual daily sales at the btock Board;
since March 26, 1870, the range of
prices is made from the quotation bid on each Friday, as printed in the btock Exchange list and The Chronicle.
[Entered according to act of Congress, in the year 1878, by William B. Dana & Co., iu the office of the Lihiaiian of Congrees, Washington, D. c.l
Range of gold ,
f 1st week. ....Money market—Rate for
.^^ week! .*.!!.
call loans on or about J ^^ week*Friday of each week
Erie 7s, Stb, 1888Galena & Chicago extendedGalena & Chicago, 2d MortGreat Western 1st Mort., 1888Great Western, 2d .Mort., 1893Han. & St. Jo. land grantsHan. ifcSt. Jo., convertibleHarlem, ist MortHarlem, con., Mort. & sinking fundHudson R. , 7s, 2d M., 8. F., 1885Hudson R. 78, 3d M., 1875Illinois Central, 7 p. c, 1876Illinois & So. Iowa, Ist MortJefferson RR. , 1st MJollet & Chicago, Ist MortLackawanna & WesternLake Shore DiyLong DockMarietta & Cincinnati. 1st MMichigan Central, IstM, 88. 1882Michigan Southern, 7 p. c, 2d MMichigan 8. & N. L, S. F., 7 p. cMilwaukee & St. Paul, Ist .M., 8sMilwaukee & St. Paul, Ist M., 7 S-10Milwaukee & St. Panl, Ist M. ..
.
Milwaukee & St. Paul, I. & M.Milwaukee & St. Paul, 2d MMorrla & Essex, Ist MMorris & Essex, 2d M ' .'.."."
Morris & Essex, convertible ....Morris & Essex, constructionNew Jersey Central, 2d M ,'.
New Icrsey Central, new bonds .
N. Y. Central 6«, 1883N. Y. Central 6s, 1887 ".
N. Y. Central Bs, real estate...N. Y. Central 6«, suhsci intionN.Y. Central 78, 1876 ..... .
N. Y. Central 78, convertible, 1876'.
N. Y. Central 78, 1865-78. . . .
North Missouri, 1st M.North Missouri, 2d M .'
Ohio A Mississippi, IstMOhio & .Mississippi, consniidateiiPacific RR. 7s. guaranteed bv Mo .
Peninsula RK. bondsPittsburg, Fort Wayne & Chicago, ist MPittsburg, Fort Wayne A Chicago, Sd M..Pittsburg, Fort Wayne * Chicago, 8d MPItlabnre, Fort Waj ne * Chic, 8 p. c, eii'Qnlncy A Toledo, Ist M.. 1890St. L. A Iron Mountain, 1st MToledo. Peoria A Warsaw, E. D .. "
Toledo, Peoria A Warsaw, W . D' '
"
Toledo, Peoria A Warsaw, 2d MToledo A Wabash, Ist M., extendedToledo A Wabash, Ist M., St. L. DIvToledo A Wabash, 2d M "
'
Toledo A Wabash, equip ."Toledo A Wabash, cons, convertUnion Pacific 1st bondsUnion Pacific land grants, 78. ..Union Pacific Incomes, lOaWestern Union Telegraph, lat H., 1875 78,
Ratland Railroad.—The annual meeting of the Rtock-
holders of tho Rutland milroad was rewntly held. It maybe well to promisH that recent developnicnts havo phowuthat tho company was moro deeply Involved than had been
auppoaed; that a year previous a lease of the Rutland road,
together with all tho lines under its control, was madeto the Vermont Central railroad ; that at the time of the
lease it was believed by the Board of Directors that there wagon hand a sulBcicni amount of assets to meet the custo I'ary lia-
bilities of tho road ; that the directors have recently found that
tho road was in debt over a million and a quarter dollars ; andthat this debt was thrown upon them by the lormer trustees of
tho road, no moans of ascertaining the exact indebtedness of thecompany beinjr in tho directors' hands, as no statement had beenmade by the trustees for seven years. The questions before the
meeting; were the best method of paying the debt, and tho mostexpedient manner of meeting the interest due on the preferred
stock February 1. Mr. Sliillings, in behalf of the di ectora, read
a report, from which the following extracts are made :
" Tho Board,after the cousummation of tho \ense, which was a work'of groallabor, havi' given Iheir attention to pettlin^r up and rellevinc the corporationof the various trust* under wiiieh the road has been worlieu and controlled,known as the trustees of the first and second bondholders, and the results ofour eiibrts are that Ihc first mortgage bonds have been liquidated and becomethe property of the corporation, with the excci)tion of $:i5,(X)0, of which notmore than '$^7,000 ran be traced as yet. and the remainder may never come toli(,'ht. T!ie second mortgafre bonds also have all been liquidated except abouttl5,(H)0, and the trustees have rendered their iiiiount to the court, which hasallowed it to be correct; and the understundin),' of the directors Is that thetrustees under that niorlgaf^e have no further duty or power than to protectthe interest of the outstandint; $15,000 of Ixjuds. II is from the rendering ofthis account of these trustees under the second bonds, and over which thedirectors have had no control whatever, that th(! corporation finds, to its sur-prise, that a lar^e debt was created under that trust, and by them bequeathedto this corporation, and which debt demands the serious consideration of thismeeliug. The following Is an abstract from the treasurer's report, by whiciiwin be seen tlje fioatlng debt of the corporation:
The floating debt, including dividend on the preferred stock. Is. .$1,708,623 56Quick assets 4*4,687 'J2
$1,383,935 64Of this sum it seems the greater part is chargeable mainly to
the expenses incurred by the trnstees, \iz.:
t'osta of litigation (the t'heever and Hart suits, by both parties).. $376,393 49Costs of disasters by the floods of 1869 860,000 00t'osto of accident at Mount HoLy 50 000 00Dividends paid prior to lease 669,000 00Interest iccouut 23S,34:i 59Real estate improvements at Burlington.... 111,000 00
$1,677,737 OO
It is not to be understood that the assets herein stated are all the assets thecorporation have, but that the rest are all tied up under the lease and are con-eequcntly not available. The property of every description transferred to thelessees has been most carefully approved and is to be returned in kind at thetermination of lease and of equal value. The board recommend that fullauttiorixy be given to the directors, to be based upon the income of the road,to fund the debt and meet its obligations.
After considerable debate, in which much feeling was mani-fested respecting the heavy debt for which the company wasresponsible, the following resolution was adopted:
Saolvtd, That the directors bo authorized and are hereby instructed to pre-pare and to issue to the holders of tha preferred stock a scrip dividend ofthree and one-batf per cent to date February 1, 1872, upon forty-three thousandabaros of preferred stock, and also, that the directors are hereby instructed
to Iwne aa the nece««ltlei of the road, the payment of arcruInK dividend! andthe debts of llie corporation may re(iulre, a seven per cent bond not exceed-liiK $1,300-000 in amount, such bonds to l>car date February 1, lft'<3. payabletwenty yearn from date, with Interest jmyablc aonii-annnallV on tiic first dtyeof February and AiiKUst of eacii vear, received u|)<in the Income of the corporation ; to be disposed of in liquidation of the licbt at not less than iheir parvalue, provided the scrip dividend on the preferred slock shall be In sums notless than $100, to be at all times convertible into such seven per cent bimds,dollar for dollar of principal and interest, until such times as the corporationshall resume dividends, payoblo In cash, upon the preferred stock.—Z>ai^ll'i/lelin.
Raatern Railroad Election.—BOSTON, Feb. 5.—The annualmeeting of the ITastern Railroad Corporation was held today In
the ladies' room in the depot, but, owing to the crowded attend-
ance, was adjourned to tho Meiondon. The president, (ieorge M.Browne, declined re-election to any office, 'fho following resolu-
tion was passetl :" Menolecd, That the directors of the road be
authorized to issue bonds, not to exceed in amount the sumot |1,-
500,000, for the use of the corporation, in accordance with existing
statutes." A proposition to postpone the election of a board of
directors to an adjourned meeting to be held on Fehruarjr 15,
was carried, and a committee of seven wag appointed to nominatea li.st of directors to be then presented.
Soiitheru Central of New York.—A correspondent of the
New York 'Jhiien says :" Tlie Erie Railway Company has leased
the newly completed Southern Central Railroad, running fromOwego to Fairhaven, on Lake Ontario, via Auburn. The Erie
Railway assumes all bonds, stock and debts of the Southern Cen-
tral ; agrees to ballast and furnish the road, and placo upon it
several hundred coal cars, a large number of passenger andfreight cars, and pay three nnd one-half percent dividends on the
stock of the road for the fir.-it three years. At the end of that
time the dividends will be increased, by a sliding scale of rates
to seven per cent, which percentage will bo made permanent.
The Southern Central is a narrow-gauge, and a third rail will be
put down to allow direct sliipraents of freiglit from New York to
Lake Ontario without reshipment."
H^AHhtabuIa, Youngatown and Pittsburg Railroad.—This
railroad is being pushed towari completion. The grading be-
tween Youngstown and Ashtabula, Ohio, is now well advanced,
and in a few days the track-layers will push forward the laying
of the track. Thus, in a very short time, Pittsburg will be in
direct connection with the City of Ashtabula, and one of the
finest harbors on Lake Erie, via tiie Pittsburg, Fort Wayne and
Chicago, Beaver Valley and Lawrence roads. The comparative
distances stand thus
:
From Pittsburg to Erie H* '"!!'''•
From Pittsburg to Cleveland i5? ""!, '
'
From Pittsburg to Ashtabula ''" miles.
Taxing Coupons and Dividends.— The Commissioner of
Internal Revenue is reported to say that his decision that
dividends declared on tlie first day of January, 1872, shall pay
income tax, if they were based on earnings of 1871, holds good
with regard to dividends and coupons until all dividends and
coupons from earnings of 1871 shall he taxed. He does not
intend to give another ruling, but holds that dividends of earn-
ings are taxable when earned, and the tax must be deducted if
earned in 1871, no matter when payable.
MONTHLY EARNINGS OF PRINCIPAL RAILROADS.r— Central Paeifie—
There was no new feature in the markets for general
merchandise until yesterday (Thursday), when the excite-
ment in London respecting the diplomatic troubles between
the United States and Great Britain, growing out of the
Alabama claims, began to be shared in our business cir-
cles, and excited an inflaence upon prices of leading staples.
The sentiment was almost universally opposed lo extreme
pretensions and violent measures, and few seemed to have
any apprehension that a rupture is to tai<e place;yet the
inclination in mercantile action was toward the suggestions
of prudence.
Cotton, after an excited advance, closing with some reac-
tion at 23c. for middling uplands. Flour has advanced to
$6 60@6 90 for shipping extras. Wheat firmer at II 55®1 60 for No. 2 spring. Corn 73@74c. for new Western
mixed afloat. Groceries have been dull, with some depres.
sion in cofrees.
In provisions, the principal demand has been for bacon
and lard, on spot and future delivery, here and at the
West. Early in the week, all ho.f products werehigher, but since Tuesday some weakness has been percep-
tible, and a slight decline his taken place. The following
is a comparative exhibit of our exports of provisions for
three years, commencing Nov. 1 :
1871-72Pork .
.
Beef...Lard...Bacon.Bntter.Cheese
..bblB..
:.*.-....lbs......lbs..
....lbs..
43,01735,255
57,078,20964,753,7471,615,1906,562,606
1870-71.
•35,577
42,98322,725,84520,879,862
560,0009,841,151
1869-70.20,45123,424
7,260,44811,589,853
340,2795,518,545
Bxports or (<eadlnv Articles from New York.The following table, compiled from Custom House returns, show e
the exports of leading articles from the port of NewYork since
January 1, 1873, to all the principal foreign countries, and also thetotals for the last week, and since January 1. The last two lines
show total values, including the value of all other articles besidestho.se mentioned in the table.
§ap-lil-^ o* 5* GC -* «o a
• Tji O I- C* OD -^ O *ao*-nooio • <« o —• di so CO
CO —<«< iM t-Oi iO ^i 03o •
>-i »Q t-i O CO CO (T*'a* oi"co"iT*"«rei
5 t-i-t Oi
SOCOO—•t-tDOSOT' ,«,^-|« «
"ja Si
:5 o
to i-< T-iD ,-1 CO e» ^- '-•OS 00 (n'jo
The increase in the exports ot hrd and bacon is really
remarkable; yet supplies are ample, and yesterday themarket was [uniformly weak for liog products, withdepression in beef and butter, and very little doing inobeese. To-day pork was depressed, and new mess sold at114 12^, for February and March. Lard was steady, butnot active, at 9|@9 11-1 6c. for prime steam, on the spot,and 10c. for April. Bacon was firm, and sold pretty freelyat 7fc. for short clear.
Freights have been fairly active, but with a better supplyof room on the berth, rates have been weak. Yesterday theLiverpool and Glasgow steamers took corn at 5|d. Therehave been also grain charters to Cork, for orders, at 5dTo-day there was more activity; the Liverpool steamerstook 170,000 bush, grain, closing at 5fd. for corn, and 6dfor wheat.
There has been rather more doing in tobacco, but with-out new feature, and prices are without essencial changeThe sales of Kentucky leaf aggregate 500 hhds., nearly allto the general export tra.le
; lugs are quoted at 7i@8+c •
common to medium leaf, 9@12c. In seed leaf there is atlast some show of business, including 128 cases, new cropOhio, on private terms; also the following lots, from oldstock: 500 cases Ohio «t 15@37ic.; 100 cases Pennsylvania,^5c.; 1.50 cases Connecticut, on private terms, and 300 casessundries at 20@55e. Spanish tobacco in good demandw,J
sales of 500 bales Havana at 95c.@l 10,%urrency, and100 bales Yara I. and II. cut, at $1, gold, duty paid.Clover seed has been dull, and has declined to lOfffillc
H.ghw.nes lower at 93c. Foreign fruits have been dull'and layer raisms have dechned to «2 60 per box. Petro'leum closed dull for refined at 22@22ie., in bbl.s., but Crudein more demand at 13c., in bulk
; naphtha declined to lU^in bbls Rosms nave declined to U 50@|4 60 for comnionto good stramed. Spirits turpentine has- advanced to 80c
Q«^J^ T*'' 'l"'^'- ^''""'^•^ *»*' •"»« advanced again to8b@87c.; other oils quiet. Metals have been more steadywith pig iron firmer at 140 for No. 2 American, and $41for Olengaruoch Scotch.
riy special telegrams received by us to-night from theSouthern ports, we are in possession of the returns showing thereceipts, exports, &c., of cotton for the week ending this eveningFeb. y. From the figures thus obtained it appears that thetotal receipts for the seven days have reached 86,336 bales against
93,688 bales last week, 120,813 bales the previous week, and 118,887bales three weeks since, making the total receipts since the first of
September, 1871, 2,003,053 bales against 3,510,651 bales for the sameperiod of 1870-71, showing a decrease since September 1 this yearof 507,598 bales. The details of the receipts for this week (as pertelegraph) and the corresponding week of 1871 are as follows :
BIOSIPTS
Rec'd this week at— 1872. l»71.
BKOmPTB
Bec'd this week at— 18r2. 1871.
Sew Orleans balesMobile
35.1627,9826,59515,1515,6035.531
67,666!19.76?9.988
27.0078.68012.7861
Florida bales.North Carolina
6631709
8141 R7Q
Charleston Virginia 7,8i2| 12',9!3
Total receipts 86 236 (61 (KOi
Tennessee, Ac Decrease this year.... 74J59 ....
The exports for the week ending this evening reach a total of54,384 bales, of which 41,610 were to Great Britain, 3,856 to
France, and 8,918 to rest of the Continent, while the stocks asmade up this evening, are now .575,407 bales. Below we givethe exports and stocks for the week, and also for the correspond-ing week of last season, as telegraphed to us from the variousports to-night
From the foregoing statement it will be seen tli»t, comparedwith the corresponding week of last seaaon, there la a decreaae in
theexports this week of 41 ,598 bale*, while the stocks to-night are86,197 bales leas than they were at this time a year ago. Thefollowing is our usual table showing the movement of cotton at
all the ports from Sept. 1 to Feb. 2, the latest mail dates. Wedo not include our telegams to-night, as we cannot insure theaccuracy or obtain the detail necessary by telegraph.
Total last year .... .... 2349.556 229.083 1409311 694,882 «1£,179
Up to Thursday of the past week the market exhibited a con
tinuance of the same speculative excitement referred to in our
last. The small receipts at our ports reported daily, were, as
before, the basis of the buoyancy and upward movement, but the
quick response at Liverpool at each advance, served to give to the
position its chief strength. Still the sales of spot cotton were not
large, although both shippers and spinners did something. Forthe last two days, however, the excitement about the Alabamaclaims and the treaty at Washington has decidedly checked this
buoyancy. Liverpool has been very tame, and the feeling here
has been correspondingly drooping. Prices are now so high thatthe quotations at Liverpool are watched very closely, even moreclosely than the receipts at our own ports, and the flatness
reported by cable to-day has therefore frightened weak holders
and, with a very light demand, prices have further given way,closing to-night at 23c. for middling uphinds, against 23ic. onWednesday, or a loss of |c. to-day, and Jc. yesterday. For for-
ward delivery the sales have been large, and the fluctuations
frequent. The last quotations for futures were (basis lowmiddling) 33ic. for February, 22fc. for March, 23ic. for April,
33ic. for May, and 23ic. for June. The total sales of this des-
cription for the week are 115,300 bales, including free onboard. For immediate delivery the total sales foot up this week20,525 bales, including 5,374 for export, 5,837 for consumption,1,160 for speculation, and 8,154 in transit. Of the above, 404bales were to arrive. The following are the closing quotations :
Ordinary per lb.Good OrdinaryLow M IddlingMiddling
For forward delivery the sales (including— free on board)have reached during the week 115,200 bales (all low middling or onthe basis of low middling), and the following is a statement of thesales and prices
Great Britain... .M bags. 110 28 SI 238 40 447 169 64
SaS:::;::::::;::::::: 1 f' ^- = « ^ ^4
Belgium 1Germany a 4 "4Trlcsti.•ie o» '
i '2 "2Spain
2382410
"i21
4476317
U^^
26
1695012
54
"i22
4247830
1133
„. ^."'o?'-;;Mbaga. 154
Stock Slst December, 1866,1867 and 1868 124
14
63 41 276 53 680 264 109 38 656 "tO 1AB7
92 44 359 58 677 115 22 12 404 42 625
Of the exports, those marked (*) were to France, Holland, Belgiam, Trieste, Genoa and Spain, and are comprised in the importsto those places
;and those marked (f) were to the Baltic, &c. The
Imports Into Genoa this year comprise those into Leghorn andNaples as well. The following is a statement of the generalImport, stock and consuiuptioa of cotton, reduced to bales of theuniform weight of 400 lbs.
:
IMPORT.
y. S. Brazil1.^-l'>«9 Mbagi,
1869WWisn
1,^83
2M48,251
218293
W,I.859880116
Igl Mbag,
IMO'..
'.
.
'.
......".....'..' .'.'.....
1S71
CONSUMPTION.Brazil.U.S.
I,9j81.611
23053,181
37821
3
270
W.I.999164119
E. Ind.1,4601,582
1,0571,818
E, Ind.1,4201.6031,154
1,054
Med.546
585517
Med.5(i6
6005 9m
GermanyTriesteOe' oaSpainSurplus of export—Great Britain.
6,401 10,3272,131 3,538928 1,981
2,923 3,1354 596 3,531
Total. 85,192 101,655
Bombay Shipments.—Our Bombay telegram received to-night
gives the shipments to Great Britain for the week at 29,000 bales
and to the continent, 12,000 bales, while the receipts at Bombayduring the same time have been 38,000 bales. The movementsince the firrt of January is as follows. These are the figures of
W. Nicol & Co., of Bombay, and are for the week endingMonday
From the foregoing it would appear that compared with last
year there is an increase this year in the week's shipments of 28,900
bales, and that the total movement since January 1 shows anincrease in shipments of .51,800 bales over the corresponding
period of 1871, while the receipts at Bombay continue to be
largely in excess of a year ago. Bombay crop reports for the
week are stated to be very favorable.
Gunny Bags, Bagging, &c.—Gunny cloth has been in steady
good demand all the week. The considerable difference in the
price of native and domestic has created more demand for the
former, and there has been a fair business reported at slightly
improved prices. The sales are 300 rolls domestic, prompt de-
livery at 16c., and 4,.'300 rolls for future delivery at 17^18c., and500 bales native for present delivery at l.ijc. In Boston, 250 bales
native at l,5Jc., ,500 rolls domestic at IGAc; 2,50 bales each month,
May, June, July and August, at 17^c.; 500 bales for June at 18c.,
and 200 bales each month, February, March, April, May audJune, at 18c. Bags have ruled quiet, aud sales are quite small,
with a dull tone ; 200 bales were disposed of on private terms,
and .50 bale,'? at 15.J@16c, Hemp of all kinds has been very quiet,
with no sales either here or in Boston. Jute is slow of sale, 300
bales sold in Boston, but the price was not given. Butts have
been fairly active, ruling steady in value ; sales are 11,000 bales,
mostly to arrive, at 3 7-16c., gold, though part at 3|c., gold, andpart at 3|c., currency, on spot. In Boston, C,500 bales ta arrive
at 3|c., gold.
Visible Supply of Cotton Made vp by Cable and Tele'
graph.—By cable we have to-night the stocks at all the Europeanports, the India cotton afloat for all of Europe, and the Americanafloat for each port as given below. From figures thus received
we have prepared the following table, showing the'quantity of
cotton in sight at this date (February 9) of each of the two past
seasons
:
1872.Stock in Liverpool bales. 499,000Stock in London 178,000Stock in Glasgow 400Stock in Havre 193,000Stock in Marseilles 12,000Stock in Bremen 13,.500
Stock rest of Continent 90,000Afloat for Great Britain (American) 302,000Afloat for Havre (American and Brazil). . . 56,000Afloat for Bremen (American) 17,000Total Indian cotton afloat for Europe 261,000Stock in United States ports 575,407Stock in inland towns 88,051
1871.
610,00079,341
25044,230
6,8503,450
25,000
398,000None.33,500
131,633661,594
139,066
Total 2,185,358 2,121,913
stock 3l8T DECEMBER.
Total.4.3464,1374,'234
5,490
Total.•1.844
4,1804 455
5,0:1
H6» Mb«g«.iwn .VT:..1870isn
U.S.161
128167289
Brazil. W. I.
9 517 822 t345 21
E. Ind.359340356614
Med.5>
4866
The weekly deliveries for the last two yearn have beenlows
:
In Great Britain.FranceHolUniP»i|ittm,„..., If«(t<(«t#tlf(t,t((.lll(l,,
.per week.ISTO.61.151
8.673
S,i8S
1,W
Total.586Ml5:«958
aa fol
ie7i.
61,8279.685
4,889
)!,789
These figures indicate an increase in the cotton in sight to-nightof 63,445 bales compared with the same date of 1871.
Movements of Cotton at the Interior Ports.—Below wegive the movements of cotton at the interior ports—receipts and
shipments for the veek, and stock to-night and for the correspond-
19,970 21,208 88,051 39,547 34,814 129,066• Our telegram from Montgomery had not reached ns when we were com-
pelled to go to press.
Theabovetotalsghowthat the interior stocks have rffO'casfff dur'ingthe week 1,238 bales, and are to-night 41,015 bales ;«m thanat the same period last year. The receipts have also been 19,577bales Uti than tke game week last year.
Pebrnary 10, 18T2.J fim •omon!(^u 161
The expdrts of CDttoii tills w.'ek from New York show a do-
cresdo siuco latit wook, tlio total reiicliiusr ".S'-t bales, against
10.67« bales last week. Below wo givo our table ghowiiiK tbe
exports of cotton from New York, and their direction for each of
the last four weeks; also tUo total ex|X)rta and direction nince
September 1, 1871 ; and in the last column tbo total for the sameperiod of the previous year :
Experts ol Cotton (bale*) from Now York Ince Sept.I,18Tl
wnK E.VDINS Totalto
date.
Sameilniv
KXPORTBD TOJan.17.
Jan. Jan.31.
Feb.7.
prev.year.
Llvvrpool 10,111 5,806 10,475 7,780 a09,648949
312,268
other British Porta 5,538
Total to Ot. Britain 10,111
61
5,806
'71
10,475
79
7,780
IS
210,597
874119
317,808
Other French port* ....
1 otal Prencb 61
805
71
33
1»
75
491
4,847299
1,133
Bremen and HanoverHamburg
7,1775,088
Other porta 5,881
Total to N. Enrope.
Spaln.OportoJfc OlbraltorAcAllolhers
505 S3 la 75 6,279
l°,i96
17,616
2,2152
Total Spain, &c .... 1,196 2,217
Orand Total 10,677 5,900 10,1176 7,8T4 218,563 8.37,609
The following are the receipts of cotton at New York, BostonPiiiladelpUia and Baltimore for the last week, and since Sept. 1, 1871
Total this year 19,6W 45n,698| l.'),702: 158,034 2,762j 36.:)14 3,007j 68,195
Total last year 31,%5l 6%,51l! 7,»H 124,555' 1,976 30.327 3,595| 81,198
SnippiNo News.—^The exports of cotton from the United Statesthe past week, as per latest mail returns, have reached 43,239bales. So far as the Southern ports are concerned, these are thename exports reported by telegraph, and published in The Chron-icle last Friday, except Galveston, and the figures for that portare the exports for two weeks back. With regard to New York,we Include the manifests of all vessels cleared up to Wednesday,night of this week :
TotalNew York—To Liverpool, per steamer* City of Paris, 901 .. Holland,
* To Havre, per steamer Columbia, 19To Bremen, per steamer Hermann, 75
New Orleans—To Liverpool, per ship Irwell, 4,654 per bark Maria,I,fi09
To Rcval, per bark Lorley, 1,663To Barcelona, per bark Magdalena, 600 per brigs Nneva Copor-
bIco, 448.... Felipe, 475... Softa. 149Mobile—To Amsterdam, per bark Ystrom, 1,448Charleston—To Liverpool, per ship Muscongns, 2,292 Upland and 00
Sea IslandTo Gcnoa^ per bark Hamingia, 1,234 Upland
Savabkah—To Liverpool, per ahins Shandon, 2,.331 Upland and 22 8ca.per bark Arbitrator, 1,637Island Annafiella, 2,498 Upland..
UplandTo Havre, per ship John Patten, 3,481 Upland and 98 Sea IslandTo Amsterdam, per ship Eliza Evi'rett, 2.900 I'plandTo Barcelona, per bark Nuestra Senora de la Lanzada, 700 Upland..
Texas—To Liverpool, per ship Sqoando, 3,466 and 4 Sea Island. per barkGalveston. 1,8M ;
To Havre, per bark Arenzano, 625Boston—To Liverpool, per steamer Siberia, 180
bales*
7,78019
75
6,2631,663
1,6721,448
2,8821,234
6,4883,5792,900700
5,321525180
The particulars of these shipments, arranged in our usual formare as follows
Amster- Bar-Havre. Bremen, dam. Reval. celona. Genoa. Total
.
Liver-pool.
New York 7.780 19New Orleans . . 8,S68MobileCharkfton.... 2,382Savannah 6,488 8,579Texas 6,821 62SBoaton 180
Gold, Exciianoe and Frbiohts.—Gold has fluctuated thepast week between 109| and llOf, and the close was llOjf,Foreign Exchange market is firm to-day. The following were thelast quotations : London bankers', long, 109 a 109^ ; short, 109
J
(ai09J, and Commercial, lOSiMlOSf. Freights closed at jd. byteam and 3-lOd. by sail to Liverpool, Ic. gold by teunand tcby sail to H»vre, and id. by ateam to Hamourg.
B? TBLEQBAPn FROM LIVERPOOL.—Liverpool, Fob. 2 -,'. P. M.-Tlio market has rub'd flat today, with
sales foollnn up 10,000 haliw, liicludliii' 3,000 bales for exoort and spiscHlatlon.The sales of the week have been 117,000 bales, of which 14,000 bales werataken for export and 4.'i,00a bales on speculation. The stock In imrl Is499,000 bales, of which 157.000 bales are American. The stock of cotton atsea bound to this port Is 414,000 bales of which 203,000 bales are American.
Trade Report-The market for yarns and fabrics at Manchester i« Insfavorable.
BREADSTUFFS.Fridat p. M., Febrnary 9, 1872.
There has been but a moderate degree of activity daring the
past week, and flour and wheat have shown a slight improvement,
but corn barely steady, and oats, barley, &c., have been depressed.
Flour shows a materia! falling off in the receipts, while the
demand has slightly improved for home use, and for shipment to
the West Indies and South America. There has, consequently,
been a slight improvement in flour; worth $7 and upward.
Flours from spring wheat have rempined comparatively quiet
but have nevertheless sliown a firmer feeling. To-day, the mar-
ket was generally quoted 10c. higher, in sympathy with wheat,
but trade vpas dull.
The wheat market has been quiet, although the demand has
slightly improved, especially for spring wheat. Millers have
been buying moderately, and shippers have occasionally taken
one or two loads. Receipts by rail have been nearly suspended,
but this is probably only temporary. Receipts at the Western
markets show a great falling off, but the movement has been so
large that the business visibly shows no important diminution.
To-day, with an advance in Liverpool, the sales of spring wheat
were about 130,000 bushels, mainly at |l.50i for Xo, 2 Chicago
and |1.C0 for No. 1 Chicago, in store.
Corn has arrived freely by rail, but prices were well maintained
until yesterday, when, under a decline abroad, the market gaveway one cent a bushel—prime new Western mixed selling at 73J@73c. per bushel afl.oat. In other qualities of corn there has beenhardly enough done to establish prices, and quotations are some-
what nominal. To-day, yesterday's decline was recovered, withdecided activity, at 73(a74c. for prime new Western mixed.)
Rye sold early in the week at 92c. per boat-load of prime West-ern, in store, but has since ruled quiet. Barley has arrived pretty
freely by rail, and has sold at some decline—common State andWestern selling at 8o@88c. and good Canada West at f 1.05.
Oats ruled firm but dull till yesterday, when, at a decline, there
was more activity—prime Western selling at 51c. afloat, andquoted nominally at 53ic. To-day the market was stronger, but
Extra State, &c 6 66® 6 90 I Ked Western 1 60® 1 66Western Spring Wheat i Amber do 1 eam 1 73extras 6 609 6 80 | White 1 63® 1 78do donble extras 7 00® 8 60
|Corn-Western mUed 71@ 80
do winter wlieat extras|
Whi te Western 74® 80and donble extras 6 90® 10 CO Yellow Western 72ij> 80
City shipping extras. .. 6 75® 6 85 | Southern, new 72® 80City trade and family Rye—State and Canada... »7fiA 1 00brands 7 76® 9 50 | Western 9ag[ gs
Sontbern bakers' and fa- I Oats—Black Illinois, . . . 51® SSVmilybrands 8S0®1025| Chicago mixed 52>^® 64K
Sou them sbipp'g extras.. 7 00® 8 25 White Ohio and State.., 54® 66Rye Hour 4 50® 6 15 , Barley—Western 87® 92Corn meal—Western, 4c. 3 40® 8 85
And from Jan. 1, '72: Flour, 647,555 bbls ; Wheat 526 B54 bn«h
*TKaS.':t48%'birr''"*' «"^»^- '3«'3«T";aS?i%!?f8
8,1888,5552,9602,664
2,72o
52o
. CornRye, 19,885 bush.
The Visible Supply of Grain, including stocks in store atthe principal points of accumulation at lake and seaboard portsin transit by rail, and froz -n in the New York canals. Februarv 3*
1872, is as follows :
' J- o,
Wheat.» . . » « . bush.IB store at New Yorli 3 157 903In store at Albany ' 16 900In store at Buffalo 669'l86In store at Chicago + ',',].
1,656;461In store at Milwaukee 1.655 4*79In store at Toledo "..!.". 466'910In store at Dnluth
] 181900In store' at Detroit '
164 406In store at Oswego*
. 500*000In store at St. Louie
] 413*612In store at Boston Il.'l09In store at Toronto 121*817In stori'ttl Montreal 221.821In store nt i'niladelphla* SOO^OOOIn store at Baltimore* 150,000Amount on New York canals 1.118,203Rail Bhipments for week 41,294
The movement of goods still continues a little slow andwithal somewhat disappointing, as many holders had calculated
upon working down their stocks pretty well by this time. ThetamenesB of the demand is in part attributed to the diflScult andsomewhat costly transportation to many points of the interior,
though there is no doubt that country dealers are holding off,
working up old stocks, etc., in hopes that the continued smalloutlet may finally bring importers and the large wholesale
jobbers to better terms and result in modified values. As a rule
however, holders seem to feel just about as much confidence as
ever, and though here and there making the natural modifica-
tions consequent upon a dull trade, are by no means free
operators, and refrain from all pressure to realize. About the
only new feature of the week has been the strengthening of
holders of coffee by the confirmation of the previous rumors in
regard to a short crop of Brazils.
The entries direct for consumption, and the withdrawals frombond, showing together the total thrown on the market for the
Withdrawn from warehouse for transportation to the interior in bond, 157pkgs tea.
Imports this week have included 3 cargoes of tea ; 7,901 bagsRio, and 7,880 bags of other kinds of coffee ; 11,326 boxes, 1,440hhds., and 30,270 bags of sugar ; 140 hhds. of molasses, and189 bbls. New Orleans do.
The stocks in New York at date, and imports at the five leadingDorts since Jan. 1, 1872, are as toUows :
stocks in New York Imports atjeading portB
Tea ItiB.
Tea (Indirect Import) .pkgs.Cofl'ee Rio bags.Coffee, other bags.Sugar boxes.Sugar hhds.Bugar bags.Molasses hhds.
XEA.The demaud has been somewhat irregular, but, on the whole, fair, and
holders claim to feel a little more encouraged, though not sanguine, andliardly prepared to name and insist upon extreme terms. Jobbers do not seemto lay in stocks with freedom and confidence, as they evidently are unable to
obtain auy definite indication of the probable increase of the Line trade ; anduntil the distribution shows greater and more general life the movement of
invoices can hardly be depended upon. Taken altogether, values appear to be
very well supported, and the market may be called steady, at least. Greens,
as before, exhibit the greatest firmness, and are thought likely to advance, if
judiciously liandled. All desirable parcels of Oolongs are valued at full mar-
ket rates, and during a week or two past Japans have gained tone considera
bly, though not in a buoyant state as yet. The sales in invoices since on r
Imports this week have included 16,795 lbs. Black, 915,358 lbs. Green and27,584 lbs. Japan, per "Tai-Tsing," from Shanghai, and 791,022 lbs. Japan, per"Black Prince," from Yokohama. The receipts indirectly have been 687pkgs. by steamer and 5,608 by rail overland.
The following table snows the Imports of Tea into the United States (notmclndlng San Francisco), from January 1 to date, in 1872 and ls71
:
18Ti.1871.
Black.2.794,;672,053,838
Green.2,932,272
4,350,417
Japan.1.764,057
2,SU4,3i6
Total.7.540.1969.208,691
The indirect importations, Indndiug reeelpts by Pacific Mail steamers viaAspinwall, have been 21,061 pkgs. since January 1, against 4,283 last year.
COFFEE.There is very little If anything new to report in this branch of trade, except-
ing may be even more firmness on the part of holders than heretofore. Thenews to hand via the Sonth America from Rio, Jan. 14, confirm the previous,
rumors of a short crop, and qnote a very strong market at that place at an ad-
vance of 300rei3. The sales from Dec. 23 to Jan. 12 were 58,890 bags, of
which 46,177 were to the United States. The shipments from Rio to the
United States for December, 1871, were 81,413 bags, against 216,538 in Decem-ber, 1870. The shipments from Jan. 1 to Jan. 12, 1872, were 28,400 bags, in-
cluding the cargo of 9,872 just arrived per South America. The dally receipts
averaged but 2,944 bags, against 5,452 same time last year. Stock, 145,000 bags.
Exchange, 24K@243id. These advices are decidedly favorable to holdci s of
some instances withdrawing desirable parcels from the market and not show-ing samples. Early in the week some of the smaller holders appeared rather
more anxious to realize, and were, it is said, willing to make concessions In
order to induce actual buyers to take hold, but since the receipt of the abovenews, all hands are strong in their views . Buyers, however, will not takehold at the moment, the out of town dealers' demand being restricted by theobstructions to transportation, and the local parties appearing well suppliedand rathei more anxions to sell than to buy. The sales efTected thereforefrom first hands have been limited. The demand at the outports has beengood, as wUlbo seen by reference to the sales at the end of this article. WestIndia descriptions are moving moderately, but at full prices. Holders are
ftrm Bympathf wltli Bio, »nd. offering only at full rates. Tlwre Is very
Februarj 10, 1372] THE CHKONlCI.lv 193lltilo change to noUc« In Java. Tba Invoice tranaaetlona at thia puint «in-
I
b.iica H,I87 baga Klo : a,7S0 baga Marocalbo, to arrive ; «,3'0 do . i>|>ol ; ISfi I
bigt SavanlUa ; 68 bag* Costa Rlra ; 1,9:8 bags Jamaica ; 133 baga Porto RUo.'
and >1 ba^'a Lit-Hnyn. At Baltimore, 800 bagii Rio ; at Mobile, 6,081 bag* Biu*j
and at Bnlllmnro, t.rOO baga Rio.
' liiivi) included 7,!)01 bacK Rio, per »tr '• South Aniorlca,'*.' lnT • S|irln,' Uiril," 100 bags SI. Domlngu, per "Oliver,'
1 lii: I) I lid, iif liio IVI). 8. anil the Imports aince Jan. 1, 1872, areas foilowe:
or other forta the etock at New York, Feb. 8, and tbo iniporta at the acvwalporta alocc January 1 , 1872, were »^ foiluwi!
:
.. 16 500
In hajfs.Jnva and SiDgaporo.('•jlonM ar.ioal ho AMI-iiKUnyra 4.M481. Domingo 100Other ijai
. Tola! 12.«50Same tlrae,t>>7l S0,3j:
^New Tork-^frtnck. Import.
,7S2
ii'.sn
4.6.11
3.91019,1SI
41,471
Boston. Phlladel. Italt. N. Orle'a,Imrort. Import. Import. Import. u
as.
1.51»
«Ai8ii.san
ijno
IJKSO im233
4$.5.'I9
* iDLludca mata, 4tc., reduced to bagi.
SUGAR.t Also, 1,193 mats.
The market for raw angara contlnnea very qniet, though flmi, contrary tothe usual rule, thata dull market is generally a weak one. Holders are etill
as conHdent as ever thatall the stock of the old crop now here wi I be wantedbi'foro tho new comes forward in any quantity, and are, therefore, offeringb;lt^parin^;ly, and only at full prices, claiming that stocks in the interiormustbeprelty lowand must necessarily soon become entirely exhausted, sothat they will have to come in the market to replenish. The crop of oldIs not larne, and the new Is very slow in coming forward, and holders saythat new will have to accumulate pretty freely before dry old stock prices canhe influenced thereby to any eitent. Buyers, on the other hand, cannot beinduced to lake hold in the face of the present low prices for their product'which docs not leave a margin of profit in refining The market, therefore,presents a dull and very nnintcrcsting appearance. The reports fromthe South still qnote a firm market for the domestic crop, with a fair inquiryfrom the \Viv,t iiul Southern States, and a llirht demand from here, but theniajorlty of the stock thot hax come forward has been sent direct to refiners.There has been rather more demand from the trade for Vacuum, Pan, andClarified sugars, bnt the transactions arc not largo at the moment, and arc notexpected to assume any proportions before the opening of navigation andconsequent resumption of a free trade between here and the West. Refinedsugars remain very dull, and. although the production is light, it is fullyequal to the call, and, in some cases, rather exceeds it. Prices are not de-cidedly chan.ed from last week, but must be considered weak and in favor ofbuyers. The transactions in raws embrace 2,528 hhds. Cuba, .3,641 hhds. and63 boxes Cuba Muscovado. 1,428 hhds. and 325 boxes Centrifugal, 341 hhds.and 171 bbls. clarified Dcmerara, 151 hhds. New Orleans, 11 hhds. Texas, 60hhds. Scotch. 225 bags Laguayra. 3,7i0 boxes Havana, and SoO boxes clayed.Importa atNeiv York, and stock in Orst iiands, Feb. 8, were as follows :
1'
PIOKM.Pimento, mace, nutmeg,, and pepper, .11 np, ear to bo beld wia confldraeoWhile n some case, owner, look for l,l,h..r «,„,,.., ...j „..,. e„„„n.e. hnTiunset led condllion, w ,h no, „,„eh „„vam.,,.. ,„ h„ .„„,„ ,„ „„„,",. j^'J"The demnnd for Invoices, however, doe. no. develop, m„e,. ani„,„,lo„. ,„dthe wholesale market has something of a dull aiul unlnt, re-ilii.. tone Jol h».
are not cotnpelled to lay in supplU.s Ju.t now, h. view of a eomparatlvciy .malldistribution, and nutnrolly postpone operations until the latest momont. aoong as nothing!, known calculated to greatly stimulate Invoice value, btitaneyelskeptonde.-iiahleporcels, and it Is thought bidding will be prattfbrisk when the demand doe, open. From second hands m(,rlerate amounts ar«going out, and the market steady, though the call is f,!lrly met both aa toquantity and quality of stock.
FItlJITH. Ac.The foreign dried marked remains in just about the aamednU and laognld
condition as has characterized it for some weeks past. Holders have graduallrreduced their value, on mo.-t descriptions without however Impartingany life to trade, and buyers are apparently only taking enough from weekto week to 8U|)ply tlicir most pressing wants. Malaga raisins have againfallen off, as in fact mo-t other doscriptious of foreign have also done, andclose weak iu favor of the buyer. Sardines are an exception to the aboveremarks, and continue to be held firmly for both quarter and half boxes atfully former prices.
In foreign green fruit the fcatnrc of the week has been the sole of 80,000cocoanutsatt.'JO,ond the doling of a contract for tho entire importation ofone for the current year at the tamo price for sound as they run. Otherwisethe market has been quiet and jirices a trifle lower. Malaga lemons are job-bing at $1 5fl@l 75; Palermo $2 75, and Messina at $.1. Palermo oranges at$1 75@2 25. and Messina at $i@,i 25 ; Valencia, in cases, {4 S0ia7 ; Porto Ricoin bbls. $10, and Jamaico JH.
Domestic CJREEN.^There is literally no change to notice In this branch ofthe fruit trade. The market is exceedingly dull for all descriptions. Wequote nominally as follows: Apples, Michigan, &c., per bbl., t3@$1 ; doState, good, $3 25@$3 75 ; do. selections, $I@,<14 50 ; common, $'l@'8. Cran-berries, fine, per bbl., $8@$9 ; do- common to fair, $5@$7 ; do. erktes line$2 [email protected] Dkied.—Trade in most kinds remains dull, and prices do no
exhibit any matcriol changes. All kinds of peanuts ar,' accumulating, asholders consider present prices too low, and rather than sell are placing thein Instore. The recent large sales in pecans have reduced the stock materially,and prices in consequence are very firmly held at a slight advance on previousfigures. Blackberries arc dull. Cherries and raspberries are held a shadehigher, but business is quiet. State plums are scarce and held firmly, bathere Is very little inquiry for this description.
PRICES C URBEIVT.The Following are Rollng: (luotntioiiN InOn the Purchase or Small IjOts PricesHIghei.
Tea.
First Hands.are a Fraction
„ ^IJuty patd^IHyson, Common to fair 40 ^ f.5
do Superior to fine CO @ 75do Kx. flne'to llneet HO r^I 15
voang Hyson. Com. to fair. 40 ® 59do Suiter, to tine, so @ Kl ]
do Ex. fine to finest! no ®1 30Gunp. & Imp., Com to fair 6a @ 70
do Sup. to One., so @1 uudo Ex. fine to finest. 1 10 ®t 4) '
Hyson Bk. A Tw C. to fair. SI @ 10 I
do do Sup. to fine. 49 @ so I
65
n.Sk * TWkyKx. I. to OnsT'M'Vw""Uucol.Japan.Coro. totalr.. 95 o 60
do Snp'r tofln.'... — -
,do Kx. t. to finest.
OOiOUK, Common to tairdo Superior to Onedo Kx line to finest..
Souc. & Cong.. Com. to lair,do Sup'rto fine,do Ex. f. to finest.
@<* 70
75 m oo48 @ 5560 a 7585 m JJ49 IS »60 @ 75
«1 19
nOLASSES.So far as foreign stock is concerned, any of our reports for the past few
weeks would describe the position just as well as to write a fresh review fothis edition. There is no positive demand whatever, and buyers, without ex-ception, are in the most indifferent mood imaginable, bidding very low, if atall, and negotiating upon nothing unless through stress of actual necessityGrocers now and then appear, but a very few hogsheads satisfy them, auditrefiners purchase they take just enough to carry them through some specialorder. The latter class of bcycrs are expecting to receive their direct pur.chasea by the time they are ready to hurry the production, and neglect the•lock on hand very naturally. Domestic molasses has been in fair demand,and the better grades show rather more firmness, as the bulk of this class issupposed to be now here, but the lower grades continue dull and neglected.Sugar-house is In improved demand, and, as the stock is light, prices are firm.We note small sales within the range of 18@19c. for hhds. and [email protected]. forbids. Syrups have a good demand, part from New Orleans, but the supply isstill small and the demand taking about all the daily product. We nols saleso 3.
'6 hhds. new crop Muscovado, on private terms, 139 hhds. Dcmerara Slifihhds. and 30 bbls. Porto Rico, 278 casks St. Croix, 3,230 bbls. New Orleans "and76 bbls. Texas.
The recelpla at New rork.and stock in first hands. Feb. 8, were aa follows:"N.O.bbl.
IKll
21,400<5.7:6
fi.8ro
4 souS.S'JO
Imports ol Sasar Sc molasses at leadlnx ports since Jan. 1.
»,Jil"'i''"''""'.'*'.'.;;h""'('"'"'llni' Melado). and of Molasseaat the leadlnir oort.from January 1, 1872, to date, have been aa foliowa :
leuaing ports
ColTce.
'5i'S™T' """''""'' f^'if -H32IX I Native Ceylon gold l9«a20W*o foo<i go d. 2(15^S21 I Maracalbo fold' iIuIeoSJo '«lf. gold 20 gap.,.-
;La^navra . lo d" 20 ?2'do ordltlary. gold. I9M®I9V SI Dolntngo, In bond'"KO d' Ul.-»15Java, mats and hst's KOla. 23 ia24>i ! Jamaica..'.. ... go d "lisBrown 25^(926
i
Sntrar.
SJO 8J<
9X« «Vi
Hav'B, Box,D.S. Nos. 19to20.. 12 ttmtHavana, l^ox, white llk®12)<
Imports Ihtsiveek" Blnee.Ian.l
Cuba,•hhds.
.'.' "ii
.. 3,711
IKIO
P. Hlco,lihds.
'Jii
3.1531!
575
Pemerara,•hhds.
11021!
1,058
Other•hhds
M511
" same time 1!J71..
Stock In first hands214
i,4:(i
3.i3?
*' " same time" 6*me time
71 6Wl;u li.295
Cuba, Inf, to com. reflninK-.d'> lair to good r^jfinlnir..do —'- -
dodo
do Melado 4>«(8 6)4 1 White Sugars, A... llvfllvdo nio, asses 7^a 9 I do Tin n iiSsitiiHaVa,Box,D.s.NoB.7to9..: t?<®9K "° h„ i';;;:.-,A V.mnHdo do do I0tol2.. !'Ka 9Kdo do do 13 tol5,. lovwllii
Sal Soda, Caak 2ii(SBnlpbnr SJf®Baltpetre 8 »Coppera* IX®Oampbor. In bbls 9CaatlleSoHin IljittBpaomBalK •
SH Blc. Licorice 15
5X iCalabra, unrtatlon 20
SS j " genuine . 88
2X Madder gold. U....
IIndigo, Madras go d.l 00
n do Manila gold. 80
.... ' Cordage.Manlla, XandX. B'^m75 I do do Large »1M8. 18 ® ..
llX|81»al '• i ••
@ 42® 13Qi ma(a,l 05- la
THE DRY GOODS TRADE.Fbidat, p.m., Feb. 9, 1872.
There has been an active trade doing this week in all domestic
fabrics, both with agents and jobbers. The large jobbing houses
have been especially active, with heavy buyers from nearly all
the interior cities, and the market assumes more of its wonted
appearance of animation. For this period of the year the busi-
ness is unusually spirited and the season opens most favorably.
The strong tone of prices on nearly all descriptions of goods has
the effect of stimulating trade to a certain extent, though, in
some descriptions of cotton goods, a further advance would
undoubtedly be met by a lack of confidence on the part of buyers
.
There seems to be no actual reason wliy cotton goods should go
higher than they now are, and agents will not be likely to find a
further rise conducive to a healthy business. Cotton is high, but
the advance has been more than discounted on goods, and if
prices are again put up it will be simply a speculative move.
The retail business here and in other cities is progressing fairly,
although there is never much doing just at this season. Collec-
tions are generally easy, and buyers are not, as the rule, asking
for long time.
Domestic Cotton Goods.—There has been a heavy jobbing
trade this week in all descriptions of brown and bleached fabrics,
at full prices, and, in some instances, at a higher range than was
quoted in our last. A few makes of standards have been put up,
but there are some houses that object to an advance, who still
adhere to the previous quotations. Prints are in very good
demand, in first hands, but it is early for largo assortments
of spring colors, and the offerings are restricted. Mourningprints have been very active, in all of the better makes, and are
selling by agents "to arrive." Prices are firm, and entirely
unchanged, with, however, some talk of an early advance.
Colored cottons are meeting more liberal sale at our quotations,
with prices firm and buoyant. Cottonades are selling freely, andsome makes are hhiger than last quoted.
Domestic Woolen Goods.—There is a good call for materials
suited to the spring distribution, such as flannels, repellants, &c.,
and also some inquiry for light weight cloths and cassimeres,
though the demand for the latter fabrics lacks animation. Woolhas advanced materially since Jan. 1, but goods only " hold their
own," and even at the current prices, which are actually low,buyers hold off. The supply of goods in the market is not abovethe average, and there is no apparent reason why full pricesshould not be obtained on all classes of woolens. Shawls areBelling fairly at full prices, with many attractive offerings ofspring weights.
Foreign Goods.—The market is active with importers, theliberal offerings from the recent heavy arrivals having helped tostimulate a good demand from distributors. Dress goods havebeen brought out in very large assortments, and all of the lead-ing styles find a ready market at a fair advance on last season'squotations. Linens are in good request, and find a ready sale atfull prices. Ribbons have been placed in fair amounts, and heldfirmly .by importers, the stock being well under their control.Woolen fabrics are quiet, the demand being mainly for lightweight coatings and cassimere.
We annex a few particulars of leading articles of domesticmanufacture, our prices quoted being those of leading Jobbers
Ilankhif; llouae and Lot. . . $151,546 0» $300,000 00Hondu and Mortgagee, b«- ^J^ ,
lag first Hens on RealEntate valued at $8,006,-400 8,81M75 00 8,818,876 00
Vnlte<l States 5 pr. ct. Reg.Bonds, duo 1874 100,000 00 110,000 00
Inltcd States 6 pr. ct. Reg.Bonds, due IgSl SS0,000 00 885,000 00
Initcd SUtcs 5 ao pr. ctof1862, ISB-l and 186T 608,000 00 868,800 00
I'nilcd SUtes 10-40 pr. ct.
of 1862 900,000 00 220,000 00New York State 6 pr. ct.
Gold Bonds 100,000 00 107,000 00New York State Bounty 7
lir ct. Roj;. Bonds 850,000 00 378,000 00Misponri and other StateBonds 40,(105 00 21,411100
Now York County Reg.Bonds 612.000 00 612,000 (K)
New York City Rei?. Bonds 1)94,600 00 994,600 00Bonds of the Cities ofTroy. Brooklyn andYonkcrs 335,000 00 3.')6,0I0 00
East Chester Town Bonds. m.om 00 48,000 00Amount loaned on demandsecured by $581,950 00Uidted States and NewYork State Bonds 568,357 83 568,357 83
Interest due and earned todate -.... 164,.31« 7:} 161,318 73
Cash :».3.6n S4 363,617 54
$8,695,120 13 $8,990,960 10
UABIUTIES.
Due Dcpoeltiirg $8,188,000 9642dDividend. Jan. 1 »9,061 68United States tax to Jan.
1 1.3,193 68-$8,415,a«2 21
Surplus at Present Value $575,697 89E.J. BROWN, President.
Edward Scheix. Treafcurer.
C. F. Alvobd, Secretary.
EIGHT PER CENT FIRST lnORT>OAGE
Railroad Bonds.
Aug.J.
Brown & Son,BANKERS,
No, 59 Liberty Street.
offer a llmitert amount of the First Mortga£:e Bonds of
the SIOUX CITY AND ST. PAUL RAILROADCOMPANY, Rt 95 and accrued Interest, at which rate
they net 8 42-100 per cent. These Bonds are Issued at
the rate of 111,000 rer mile of completed and cquliiped
road, and hear a per cent Interest, ttee of governnent
tax, payable semi-annually at Metropolitan Nationa]
Bank, Nev York. The entire capital stock, at $22,000
per mile of road, has betn suhscrlbed for at par.
Pamphlets furnished.
orricE OF
U. S. Assistant Treasurer
NEW YORK, January 29, 1872.
rr DURING THE MONTH OF FEBRUARY, 1812,
I shall, by order receive Wda for Gold, and offers ofBonds, a» follows
:
BIDS FOR GOLD.
TauRBO.iY, Febnisry 8—One Million.
WiDSESDAT, February 21—One Million.
OFFERS OP BONDS.
Thcbsday, February 1—One Million.
TncBsDAY. Fe'TUitry 15—One Million.
THtrasDAT, Febniary 2S—One MllUoti.
A certified check for Five per cent of bl-J or offer
must be deposited tticrewitb. Proposals will be openedat 12 o'clock, noon, cacti day specified. TheTieaauryany, at It* option, accept offers of bonds or bids forgold in exc*BS of the amount advertised for.
Printed forms for proposals, with the regulations toje observed, will be furnished at this office.
THOMAK I11LLH0U9E, Asst, Treasurer V. 8.
Financial.
The City Bank,LONDON,- ENGLAND.
INCORPORATED BT ROYAL CHARTER, A.D.lSSr.
HEAD OFFICEI
<Cornero^t_^ Flinch Lan.). Thread-
"" Old Bond Street,159 ft IM.Tottenham Court Road' Lndgate Hill
WiiUnni Sl-npsontEsq.,Jonathan Thorp, Esq.,.lames E. Vanoer. EsqGeorge Yonng, Esq.
MANAGER—Alfred George Kennedy
8KCRETABY-C. J, Worth
I Accounts opened with approved American and otherForeign Firms or Banks, at such moderate rates ofCommission as shall be considered consistent withsound mutual advantage. T!ie Interest upon suchaccounts is calculated at current rates on dally bal-ances, and is nifldc up on the SOth June and 31st De-cember in each year.D,-mand Cheques and Exchange honored aealnst
approved previous or slmultaneou.^ Remittances.Credits opened acainfltFlrat-ctass Securiti'S negotia-ble In London. Mercantile and Marginal Credits areissued, as also Letters of Credit upon any leadingCommercial City.
Travelers' Creditsencashed when issued by 11 ents, and every des crlp-Uon of general Banking Business transacted. TheOfficers and Clerks of the Bank are pledged not todisclose the transactions of any of its Customers.
Edward Haight & Co..RANKERS,
No. 9 IVall Street, Nenr York.FIVE PER CENT INTEREST ALLOWED ON
DEPOSITS.The business of our firm is the sama as any State or
National Bank.Individuals or firms banking with us may deposit
and draw as they please, tiie same as with any Bank,except that we allow 5 per cent interest on all bal-
ances.
We buy and sell Bonds, Stocks, Gold, Business
paper, and collect business notes and drafts throughout the United States, giving prompt returns.
t»-ST. JOSEPH! AND DENVER CITYRailroad Companr,
ExicuTiva Office, No. 4S Nassau Strbet,Nfw York, February 1, 1872.
The Coupons and registered interest due February
15, 18i2. on the First Mortgage Eight Per Cent (8 p. c.)
Gold Bonds <E. D.), and the Eight Per Cent (8 p. c.)
Gold First Mortgage Sinking Fund Land Grant Bonds(W. D.), of the St. Joseph and Denver i Ity Railroad
Company, will be paid at the office of the Farmers'Loan and Trust Company, of the City of New York,upon presentation and demand, on and after that date.
Free of Tax. FRANCIS A. COFFIN,Assistant Treasurer,
St. J. & D. C. RR. Co.
FIRE INSURANCE.
North American
Fire Insurance CompanyOFFICE 192 RROADWAY.
Branch Offices,
Cooper Instltnte dc 1439 Rroadwajr.
INCORPORATED 1823.
CASH CAPITALSURPLUS . - -
- - $500,000 00- - 295,237 93
Caiili Capital and Snrplus, July 1,1869,$795,237 93.
Inanrea Property against Loss or Damage by Fire atnanal rates.Policies Issued and Losses paid at the Office of the
Compa*-<y or at Us various Agencies in the principalcities of tie I'nlted Stales.
H. W. KLKKCKEIl, President,
WYLLIS 1ILACK8T0NK, Vlce-Pres'l.
F. B. CAKTKR, Secretary.
J OSISWOLU, General Ai^ent.
buozanoe.OFriCK OF THE
Pacific Mutual Insurance
ICOHPANY.
HOWARD BCILDINO, 17« BROADWAY,
Nxw YOBK, Januir/M,ira.
^F-THE FOT.T.OWIVO 6T»TFME'»T OF THKafnilrs of the Company Is published lu conformitywith the reqnirementa of Pecilon 12 cf Ita cbarter:
Outstanding Premiums, January 11871 MS.OIOM
Premlnms reeeived from .lanuary1 to December 90. 1871 . Inclusive. (02.113 K
Total amount of Marine Premiums 1(87.423 nThis Company has Issued no Policies except on Cargo
and Freight for the Voyage.
No Risks have been taken upon Hullsof Teasels.
Premlnms marked off as Earned, during theperiod as above tW/lW 19
Paid for Losses and Fxpense*, less MvlMf.iAc.,dnr>ne the same period '. 4«l,6ffl !S7
Botnrn Premiums S8,!04 87
The Company has the roUoivInKAssets.
Cnsh In Pank »101,«S7 61
United States and other Stocks... 4-'i9.2!tl 4.1
Loans on Stocks Drawing Interest 272,C<JO 00$tnim M
Be-lnsuranee and Claims due theCompany, cstlnia'ed at *4,0O4 40
Total a«s?t» »l,0e3,M7 19
fix PER CEV'T INTKHE8T on the outstandingCertificates of Profits, will be paid to the holdersthereof. o*- their legal representatives, on and afterTUESDAY, 'he (ith day "f February.THE HKMAlNINf! FIFTY PFI? CkNT of the OFT-
STAvniv-O <KRTIF1CATES OF THE COMPANY,OF I HE ISSUE OF IfU'f, will be redeemed ard pallin rash lo tiie h')lders thereof or their 'egal represen-tativea, on and after TUESPAY. the Sth day olFebruary, from which date, int're^t thereon willcease. The certificates to be produced at tin e ofpayment and eancelied. _ .
A Dividend in Script of FIFIEBN P":R CENT, is
declared on the ' et amount of Ear^ci Premiums for
the year ending December SOth, 1871. for whioh Certi-
ficates will be Issued on and alter TUhSDAT, the Jdday ol April next.
TRUSTEES
:
John K. Myers.A.O. Kicliards,G. D. H. Gillespie,C. E Mllnor,Martin Bute",Moses A. Hopnock,B. W. Bull,Horace B. claffin.W. M. Richards,A. S. Barnes,Kgbert 6ta> r,Wm. T. i*lodgett,.Tohn A. Barlow,Alex M. ETle,H. 0. Souihwl.k.Franc!.- Moran.
JOHNWILLI
THOMAS HALE
Wiiu.im Leconey,Wm. Hegenmn,James R.Tavl'ir,Adam T. Brnce.Alberl B. Strange,A. AUfirustu.> Low,Emll Heinemani,Jih al Head.John R, Waller,William A Hall,Theo. w. Morris,S. •'. Bonthmayd,Thos. B. Merrick,George A. Meyer,Fer^ inana A. Bokea,Walter H. L wis,
K. M\ iRn Cresident.AM LEUONEY, Vice President.ecretary
-i.'HOMEInsurance Company
OF NEAV YORK,
OFFIOE 135 BROADWAY.
Cash Capital . - - - *2,500,000 00
Assets, Jan 1,1872 - - 4,«72,«43 50
Liabilities 624,021 52
ABSTRACT OF TUBTUIRTY SEVENTH SEMI-ANNUAL STATE-
JIENT, Showing the Aseeta of the Company on Ibe
Ist day of January, 187*.
Cash in Banks and Tnist Com-panics f482,327 oZ
Bonds and Mortgages being first
lien on real estate worth „,„„,„ ,_$4,759,600 1,860,849 6T
Loans on Stocks, payable on de-
mand (market value of securl- .„- „„tics 1141,462)....- 110,500 00
&C. "ONT.MtlO' SKA.MLHSS BAGS,•• A WiN I NG STlil PES."
Also, AcePtB
United Staieit Bunting Compauir.A loll Bnpplj all Widths and Colors always in tlock
111 A I .'i l.lN|>ei.ar<t Street.
Cotton and Southern Cards.
Reynolds & Brothers,NORFOLK, VIRGINIA,
Ruy Cotton. Grain, &c., on Commission.
NEW YORK.
Walsh, Smith,
Crawford & Co.,£8 Wall Street,
Crawford, Walsh,Smith & Co.,
COMMISSION MERCHANT3^__Mohil^A|^f
Stephen Higginson,NO. 8T BEAVER STREET.
P.O.B0XNO.4.W,. NEW YORKRepreaentlnit
CLAKkfcStcK^^c'd.l-aKroloLo
W. B. LKOVABD. W. 0. tHSUMir. W. H, FOSTXB.
LeonardjSheldon&FosterBANKERS,
No. 10 W^all Street
H. S. Fulkerson,COTTON BROKER,
COKNBR MULBKRUY AND WASH INGTON STB.VICKSBVRG, MISS.
liefer to G. M. KLEIN, Cashier, Mississippi ValleyBank, VlcksburK.
R. A. Young & Bro.,[COTTON & TOBACCO BROKERS,
_^ Petersburg, Va.
John C. Graham & Co.,SEI,MA, ALABAMA,
Buyers of CottonFor a < omnilKBlon.
de?^^ab"jV'^^u?X:""Jal'i„V%S'J}™^^.-?er^'Jsame, allow Interest on depoSlta.deal in commercwSpapjr, fttrnl.1, to trayeller. and others L«?e™ JCredit correntln^he priuclpal clttea In Europe
«•• I^ CURRY,EXCHANGE BASK ADGU8TA, OA.
Sonlhern SccnrltiM ol eTerr description, viz.: Clicurrent Btrik Notes; State, c'lty * liallro^ SiocluBonrls and Coupons; -« wivv«*,
,OrConfcl\ommKi\e In all parU of this state andioEth Carolina and remitwd lor on day ol colto!?Uou, slcarreDtratcol New T9rk K*-cli«B)[».
--^-'.Ifc.-.,. .
Transportation.
XEw yorac, cork and livj^rpool.NEW AND FUIJ POWI RED S1EAM.SH1PS.
THE SIX LARChSr IN TH?. A\ ORLD.OCEANIC, CELTIC, REPUBLIC,
ATLANTfC, BALTIC. ADRIATIC.fi.OOO tons burden—S,(X» h. p. each.
Sailing from New York on SATURDAYS, fromLiverpool on THURSDAY'S, and Cork harbor the dayfollowing.From the White Star Dock, Pavonla Ferry. .Jersey City.PasBcnKer accommodations (for all classes) unri-
valled, comhlnincSAFETY, SPEED AND COMFORT.
Saloons, state-rooms, smoking-room, and bath-roomsin midship section, where least motion is felt. Surgeonsand stewardesses accompany these steamers.BATES—Saloon, $80 gold. Steerage, »30 currency.
Those wishing to send for friends from the Old Coun-try can now obtain steerage prepaid certificates, $3.3
currency.Passengers booked to or from all parts of America,
Paris, Hamburg, Norway, Sweden, India, Australia,China, etc.F^xcursion tickets granted at lowest rates.Drafts from £1 upwards.For inspection oi plans and of^er information, apply
at tliC Company's offices. No. 19 Broadway, New York.J. H. SPARKS, Agent.
Cunard LineTHE BhniSH ANI> NORTH AMFRICAN ROYAL
MAIL VTFAMSHIPS,BETWEEN NK'V Y'OliK ND LIVERPOOL,
CALLING AT C'-'RK HARBOR.FKOM NEW \ OBK.
A^YSPINIA Wednesday, Febniflry 14.
RUSSIA We. ncBd.y, Februay2 .
ALGERI* Weriuesilav, February 28,
CALAHUIA Weiin. sdav, Maicli 6.
CliNA »>di esdiy, March 13.
Ai d t,VKiy luJRwi'iE VV( dues-day and Saturday.FHOM BOSTON
.
PART 'lA Sal urday, February 10,
HATAVIA f aturday.Fcbru..ry 17.
SAMARIA i-aturday. February '4.
81HKKIA s turd^iy, M.irchS.HECLA Saturday, March 9.
Aim eve y loll, wine aturrlav.I-ATES OF PASSAGK.-Caiin. »80, tlOO, and »13ll,
gold, HtM'ordmx to accomujodation.Tickets to I'arie $15 gold additional.Return tickets on fa\ orab'c terms.
THE LIVERPOOL AND GREAT WESTKKNSTEAM COMPANY will dispatch one of their first
class lull-power Iron screw steamships from
PIER No.46 NORTH RIVER, EVERY WEl'NEbDATas follows
MlNNKSiiTA, Capt. Morgan Jsn. 14, at lOX A.M.IDAHO, Capt. Pi ice Feb. 21, at aw P.M.C<lLiiRAl'0,C<pt. Freeman Feb. 2x, at 8K A.M.Wl!-CO SIN, Capt, T.r.rreeman..M»r. 6, at 2)i P.M.NEVADA. Captain Foisvlh Mar. 13. at 8K A.M.WY'uMING, Capt. Whlneroy Mar. 20, at 2>i P.M
THE FOLLOWING STATEMENT OP THEaflturs of the Company is i llblistied lu conformitywith the provisions of the Charier
:
Pr-minmst n ouistAutliiig risks D.c mber31,1870 $239,997 M
Piemlumi recelvea during year euillugil.celuberSI, 1871 l,5il',8:3 49
Total prpmlums $l,790,aai «Pr< mlums marked olf as earned dui lug theyear 1871 »l,503.74i 4U
Pad Losses, Exp nses,Re nsurance, Conimls-Biou and liUeieit 11,200,508 0">
n.!lurns of Pie iiluin-... »60,285 06Hehtttenienis on Prtmt-unis received »164.924 £«
The A 9-iels of the C mpany on theSIst De-t euibt-r. 1871, were as tol ows:
United Slates ^ta^e, liauK & otlier stocks.Loans im btacksCiisli in Wank and with HankersDtvidends dcclaied but not collectedidllM reiCivabK- and preniiunis unculleeledSecurity N'otesbcrip, SalVrig s and all ot sr claims duethe company
»4S9.720 0029,5(0 onilS'li 66f,8M -SI
649.. 30 86SJU.UOU IXI
11G.&'>6 34
$1,633,749 67.
By direction of thr! Trustees, TIIRE ». AV!) ONEH.vLf PK'i CENT INTEKES lor the six nioullisendlnif 3l8t ult. will be paid to tlie Stoeklioldeis, onand after \niNDiV. the 5th ot Kebruarv next, atwhich time flfty fercen' of tne secuilty no'tes will bereduced, and the intere t tliereon eea=e.
TRUSTEES..IA.SIES F ERLANI', A. FOSTER HIGOINS,SAMUEL WII.LKT8, FliANCIS H vTIIvWAr,KOIIKKT L. TAYLOR, y AKO.N L. REIU,Wll.LlAld T. HS'fSl', JOHN D. « OOD,u LL'AM WATT, GEO. W. I'E - MNGS,Jv-MES K.FIbH. UEnRV EVIiE,ELLwoo Walter, Joseph slauo,I) COLliEN MrUli.W, EDH AUD MKIIKITT,TOW SEND M I U1)ER, DANIEL T. WIl.LETS,S i.MIKL L. HAM, I,. ' DGEllTON,HRVCE GKAV, HENKV II. KUNKARDT,N L. .McCllEAUT. JOH S.WILLIAMS,WILLIAM NELSON, Jr., CH >BLES IIIMON,HAliOI.U DOLL Eli, PAUL N. SPOKtORD,JOS. WILLETS, JAMES DOUGLAS.
liLLAVOOD TYALTER,•- resident,
ARCUD. G. mONTt^O^IKHY. Jr.,VK-e-Frestdenl.
ALANSON W H>-<iE.flAN,2d Vlee-Presldenl.
C. J. DESPARU,accrctari'.
ImperialFIRE INSURANCE COmPANY
OF LONDON.
Assets .... $8,000,000, GoldCIlitCF OFFICE IN THE U. H.
•<. 40 •mA.4a '^Ute Street, New York.
IiiBtiranoe.
OFFICE OF THK
ORIENTMutual Insurance Co.
Nbw York, .10th Jauuary. IflTS.
The following 8TATKMENT of tin- afTairii of tbit('ompnny on tlieSUt day of December. 1H71, la pub-lii-hed in couformlty with tbe provlnluna of ||«t'liartcr:
570,1100 UOStockH of Statett, and Corpora-tions and LouuM on (iCniand.... a03,''19 58
»1,U8.042 COSnbflcrlptlon Noti-p, (o^ which*n9,^ 'th ai e not yet used) .... 438,900 75
mils Kecelvabl*'. t'licoileetedPremioms and SalvaKes 317,039 39
Accrued Interest and UnsettledAccounts I».a69 80
Bli.Wi 91
Total amoniit of AdBcts.. . ^1,936,652 54The Board of Trustees have resolved to pay Six
per cent Interest on ?he outstanding Scrip C'erlifl-
culcs, to ihe holders thereof^ or their leyal repre-i?e"tttivetf, on or after the l!<t March next.After adowinj^ for probable losses in the case of
vessels out of tune, uud unsettled claims, they hav<^also (in addition to a bonus of Ten per cent alreadypuid in cash on the Subscription Noiest. resolved toreturn to tho Dealers entitled to the same, Ten percent on the net amount of Earned Premiums of th«year endiuij; 'Mat Deceinbor. 1871. for which Certifi-cates will be Usued on or after the 3d April next.The Trustees have fui ther resolved. th«t after re-
serving over One Million of Dollars Profits, Fiftyper cent of the ouistandin;^ Certificates of the Com-pany of the issue of 195!», be redeemed and paid to1 he holders thereof, or their legal representatives,on or after 1st of March next, from which date theinterest on the said Fifty per cent will cease. TheCt-rtificutes to be produced at the time of payment,and cancelled to tlie above extent.By ordi-r of the Board.
CHAKLIilS IRVING, Secretary.
TRUSTEES.Joseph Gaillardf Jr., Leopold Bierwirth,George Mosle, Simon de Visser,Edward F Davison, John S. Williams,A. Le Moyne, Jr., Alexander M. Lawrence,E. H. R Lyman, Fred'k G. Foster,Henry R. Kunhardt, John D. DIx,John AuchiTifloss, Charles Munzinger,Lawrence Wells, Louiy Jay,Frai^cis Colteuet, James Brown,Charles Luling, N. D. Carlille,Alex'r Hamilton, Jr., Theodore Fachirl,George F. '1 horna o, C. L. F Ruse,Carl L. ticcknagel, Wm. S. WilsonW. F. Cary, Jr., F, Cousinery.Corncliu-* K. Sutton, (*ustav Schwab.Edward Haight, (ieorL'e H. Morgan.
No Fire Risks DIsconncrted wllb ma-rine Taken by this Company.
Thh Company l^suts Policies on Vessels, Freights,and car>foe!*, at current r»te8.Losses payable la New ^ urk, London, or San Fran-
cls'o, at tlie option oi the AS!*ure(l.J. B. SCOTCHLKU. Pres., J ABmS HO WES, Vlce-Pres.
K. W.B'-UUKK.Se ntary.Messrs. MORTON. UOSB & CO., Bankers In Loudon.
SUTTON 4c CO., Asenla.
o/^^emc/on ant/ &.aft'nJauryO-
1
/fapi^a^ {;olnJ^/gooqooo:
7/ni^9Ma^j> /jsoaooo.[
198 the: chronicle :6*ebruary 10, 1872.J
Insaranoe.
William C. Gilman,DKILKB ir
jilVSI7BANGE SCRIP,AND
Fire and Akarlne Insurance Stock,46 P ue Street, corner of Wlllam Street. ^.V
E. S. Bailey,65 WAIiL STREET,
Buys and Sells
iBsnrance Stock* and Scrips ; alsoBank Stocks and other Securities.
" SPECIAIiTY"Caab paid at once ior ibe above Securltiee ; or they
vUl be itold on commtsslun, at sellers oi>ttoa.
NIAGARA'ANCE COMPANY,aOl RROADWAV,
ash Caplial, . • • $1,000,000.
Financial.
SOUTTER & Co.,
BANKERS,Mo. 53 WILLIAM STKEKT. NBW YORK.
i^calera lu Bills ol Exclianne, Goveruments, BoDdsfttocks, Gold. Coimrercial Paper, and all Negotiablebecartties.Intfcrest allowed on Deposits subject to Sight Dralt
or Check.Advances made on approved secnritles.
Special facilities lor nesotiating Commercial Paper.Collections both inlan i and foreign promptlymado.Porelen aad Domenlc Loans Negotiated.
Taussig, Fisher & ,Co.,BANKERS,
No. 33 Broad Street, New York.
Taussig, Gempp 8c Co.,BANKEP.S,
323 North Third St., St. Louts, IHo.
Gempp & Taussig,BANKEP.S,
24 Junehoir St., Frankfort On Main*
T. B. BALDWIN. G. S. EIUBALL.ember N, Y. Stock and Odd Exchange.
Baldwin & Kimball,BANKERS AND STOCK BROKERS,
2}^ WALL STREET, NEW YORK.Interest allo^ved on deposits.
M. BWBNSOIT. W. M. PERKINS
Bailroads.
Edward W. Serrell,CIVIL ENGINEER,
T8 Broadway New York.
BAILHOAOS. BRIDGES AND EXPLORATIONS,"SERKBLL'S PATENT WRODGHT
IKON VIADUCTS."
J»"Partlcular attention given to the examination of
Public Works for caplt lists seeking iDTe^tments.
James A. Cottingham,
SHIPPER OF
Locomotives, CarsAND
RAILROAD IRON,ON FIRST CLASS
SCHOONERS, BARGES, AND LIGHTERS.
FORAVARDINGOK
Iron and Steel Rails
A Specialty-
Having lor many years been Id.-ntified with this
business, our great exoerlence enables us to ofl'er
UNUSUAL INDaCEMENlSto the trade, and to ensure safety and despatch In
shipments of the above.
Below we furnish a brlel statement of our business
for the past ten years.
During that time we have shippednot less than 1,300 Locomotives val-ued at $12,000 each • - $15,600,0001 2,000 Cars,average valueat $1,000 each .... $12,000,000
90.000 tons Steel Ralls, at$110 per ton • . • . 9,900,000
50,000 tons Iron Ralls, at$70 per ton ----- 3,500,000
Total ...... $41,000,000The coming year we shall extend our business, and
with Increased facilities lor transacting the same, weInvite the attention of the trade, and particularly
solicit shipments of RAILROAD IRON.JAjnES A. COTTINGHAin,
104 W^est, corner Liberty Street,
NEW^ YORK.
D. t. EERNIOK,
SwENsoN, Perkins & Co.,80 W^aU Street New York.
Perkins, Swenson 8c Co.,New Orleans
Kxchalige sold on Texas and Lonlsiana. Collectionsm.ide on all accessible points.
LOST OR STOLEN?The Public are cautioned agalnift receiving
or negotiating the NOTE of QIPPORD, SHERMAN4 IN .MS, endorsed by .JOHN OSBORS SON & CO.datei IMh December, 1871, at 3 months, due 19thMarch, for »8.923 36, piyable at Park Bank, the samebeing lost or stolen. Payment being stopped It is olno use to any one but the owner. A reward of iflOOwill be paid on Us return to
V . THOinAS mcnilJLLEN,^^ ^ ' ~ 44 Beaver Street.
Wm. H. Veysey,PROFESSIONAL AOCOVIVTANT
OFKK K 150 B OADWAY, NKW YORK.Books opened In plain and couclae innnner. Com>
fv, X! Wa.l St. ; We^ars, David Lunib Jt Co.. Importersll-i I)u:*ue St.; Benedicts Itourdnian, ConnMcIlors atLaw, S23 Broauway ;
frame, UareA i.ockwood. Insur-ance Agents, 3 1! i.roadway; Thomas Barbour EtaI arbour Brothers), President ot (uj BSTboar r\ixSpliiBlBg Co., Patterson, 5. J,
»«''«»ar ri»j
RailroadsThe subscriber 1b prepared to supervise surveys,
locate, and estimate cost, and also to furnish plans,
specifications and forms of conract. for proposed
Mnea lo railroads, and otlier engineering work.
He will also examine and make reports of cost and
probable earnings of proposed roads, or of those
graded and bridged, or In operation In any of the
Western States. Having had twenty-five years' expe-
rience In the construction and actual operation of
railroads, chiefly In the Western States, he will be able,
as he believes, to furnUh economical and satisfactory
plana and systems of construction, and also correct
and intoUlgeut opinions as lo the value aftrroposed or
campteted tinea. Every eflort will be made to furnish
accurate Information to parties contemplating the
investment of capi' al either in the stocks or securities
of railroads, which will aid them in determining thevalue of sicurltles proposed. In deciding all legal
questions connected with the matters about which hemay be consulted, the subscriber will be aided, bycompetent advice and assistance all eady secured.
To mechanics, manufactuiers and capitalists con.tcmplatlng Western Investments, desirable opporto-Bities will be presented Office over the PeoplesBank, Bloomlngton, Illinois.
Interest paid on Deposits subject to check.D.N, BARNEY, ((,•„.»,.,A. H, babney! S
Special.
R. T. Wilson & Co.,BANKERS AND COMMISSION MERCHANTS
44 BROAD STREET.Liberal cash advances made on consignments ol
Cotton and Tobacco to our address ; also to our friendsIn Liverpool and London.
Government SecuKlties, Gold, Stocksand Ronds
Bought an 1 S > d on Commission, andLOANS NEGOTIATED.
Accounts received and Interest allowed on balanceswhich may be checked for at sight.
Bryan & Hunter,BANKERS AND BROKERS.
101 BAY St., SAVANNAH, Georgia.if. O. Box 833.
DEALERS IMExckanK«) €olu aud Securities.
Collections ou Savannah remitted for at one-e glith
per cei.t under buyiug rate lor Kew York Exchangeth« day they mature. We have faciliilci alsof-r f o lec-
tions in other cities in Georgia, Alabama and Florida;
a<sof..r the ttauaacti >n <.t' any Financial buaineBSonCollaterals, recognized as good here. We do notdeal in any Soutliern State Bonds issued since the wa*-.
QKO. ARKNlS. ALBKBT YOUXG.
Arents & Young,DEALERS IN
SOUTHERN ANDmiSCELLANEOVS: SECURITIES,
N0..9 NEW_SVUEKT.
Loans Negotiated.
Gibson, Casanova & Co.BANKERS
»0. 50 EXCHANGE PLACE.
STOCKS, BONDS, GOVERNMENT SECUniTIES,FOISEWN EXCHANGE and GOLD bonght and soldon the moat lavorable terms.INTEKKST allowed on deposits eitlier In Currency
or Gold, subject to check at sight, the same as withthe ('itv Hanks.ADVANCES naade on all marlcetuble securities.CKliTlFICATES ol Depoait issued bearing interestyOLLFCTlONS made at ail poloU ot tho UMIOB
»d BRITISH PKOVINCES.
Levy & Borg,20 RROAD St.,
Rrokers and Dealers
IN
SOUTHERN SECURITIES
LOANS NEGOTIATED.
Cubbedge & Hazlehurst,U4NKEKS AND BROKERS,
>iAC(;M GA.
Mak OL'ilectioun and do a General Banlilng aujBrokerage Busiuesa.
KKl-'tK 'to EAST niVEB NATIONAL BANK.
MANKINU HOUSE OF
KouNTZE Brothers,12 Wall Street. New Iforli.
Deposits received IVom Banks and individuals, subect to clieck at sight, and interest allowed thereon alFoUKl'KtSCENTperannum.Collections made throughout the United States, tiic
Brtlli h Provinces and Europe.Goveruintints fiecurttie;* bougtii and sojrt.
A. D. Williams 6c Co.,STOCK BROKERS,
40 Wall street New i'orl£.
Stoclis aud BondsBOUGHT AND SOuU ON C0M.MI8S10N.
A.DESIS'N WILLIAMS. I J. P. VV1LIAM8,Member ol the Member of the
N, Tork Stock Kxcbaacu | N , York Slock hxcbaoge.
JP^bruarj 10, 1872J THE CHKONICLE 1993=
PllICES CUBBENT.A8UK8—i*ot. Ill lort «ll0a»819 ••»BKK8WAX- _ „American yullow ...V ft Hm n
BKBADSTUrirS—Sen ipeol*! report,
Ptalladelphl* IronU ..." &I WW 88 09
BUTTHIl AND CUJiKSa-Butter— „, _ ,„
sum. D«\v. ilrklua, prima.. SO fi
bi«,.'. no !hk'«. ulr log'd iH H i'i
St t' MH.c'ioice. 83 <0 35
Bi I iH, liilr.... '^!> « ^»
'Vf. . lu prime.. 26 «« SO
Weiaii luua.uiaiuwy 3^ 4 <SMiVesieru, prime 22 # 25
IVeiteru, Mr 1< % UCbeece
—
factory prime to ch'oeliB 14X4 I^KFactory fair to good liH* i*
Karm ualrlcs, prime 14 O 14 li
Karuj dalrlea, fair to cood i'i % UKirm ilalrlus, ooiumon ... 10*^9 USOhio common to prime... 10 <• 13>i
I'ANDLKS-i-perm * » 33 a 31
gperiii, patent 43 a 44
Uearlc US oz.) )» » 'i^
Adamaiulne(l<, t4,&lli02.)13@US 19
CKMKNT-Roscudale « bbl ....Al iS
COAL-Aucilou sale of Scranton, Jan. SI:
8.000 tons lamp » MX® 3 $>
9,0(10 luua steamboat... 3 70 (j» 3 3517,0UU tons grate S s; « S 75
18AI0 toaa •« > 45 a 3 mgO.OOO tuu8 store 4 05 {)« 4 liX16.UJ0 tuus chestnut 8 SO a 3 45
Noa'castle gas. V i^V) ti .... (» « OOLlrerpuol gas cannel 0U 00Liverpool house cannel — <t$l7 00
COCOA—Caracas(goldlnbonJ)VIb IS A 16Maracalbodo do .... 27 «t SOGuayaiiall du do .... llsa 12
COFFKE.—See ipeclal report.
(;.>PPKK-Shoathlug, new (over Uoi) V lb ....9 34
Bolu i» 3«Brsilera'cover l6or.) iS 46Sbeathlng.&c, old, m lots 2Sxa 36American Ingot •ti%» HXSheathing, yel.metal.new (t 'XBolts, yeflow metal 26 ^ ...Nails, yellow metal . .e 36
CORDAOK—M anlla (large and amall sizes)per lb aox@SlX
LEATHER- ^Caah,**-^oak, slaughter, heavy .... 38 8 43
middle.... 33 mlight 83 38
" crop, heavy S3 8 87•' •• " middle 84 38
" light.. 33 87** rough slaughter 33 87
Hemrk.B.A.,&c.,heavr . 38 39" middle. 28 a 29
" " light... 26 a 37CalKornlt. heavy. 37 a 28
" middle 37 8 27X' " light.. 25 a 26" Orinoco, heavy . . 25X0 27•
•• middle . 26 a 27' " light.... 25 8 25X" rougk 39 33** good damaged ... 33 25" poor " .. 18 a 20
LIME-Rockland. common. Vbbl a 1 35Uocklaud, lump 8 175
LUMBER. STAVES, «c-Southern pine $3« 300 40 00White pme box boards... 39 00® 33 00White nine mer. box b'ds SO (0® 82 00Clear pine 17 O«0 77 COCherry boards and planks 76 000 81 COOak an.i ash 66 000.61 00Maple and birch 36 00® 11 00•JUckwalnut 105 ."XIOISO OOX-lnch sycamore 42 000 50 001-Inch do 50 000 52 00Spruce boards and planks 28 000 30 OOHemlock bo'rds and plank 35 000 34 00Extra heavy pipe staves 1200 00Heavy do do 180 OOLlKht do do 160 00Extra heavy hhd do 175 COHeavy do do 150 OOLight do do 100 00Extra heavy bbl. do 130 OOHeavy do do 100 00Light do do 75 00Molasses Bhooks.incl.head'g. 3 5003 70Fum do do . 4 750Sugar do do .3 2.->03 50
MOLASSES—See special report.
NAILS-Cut.l0d.®60d V 100 & ....0475Clinch, kegs 6 25 06 75Horse shoe, forged (No. 10to 5) V B 19 S3
PAUJTS-Lltharge, Am VB 8<^a SuLead, red, " Bxa 9xLead, White, Am., In oil a 11Lead, white, Ainer.,dry. 9xa ^\Zinc, white, dry. No. 1. 7 a 7XZinc, white.No. l,ln oil. 9 18Zinc, white, French, dry 9 35 8 9 50Zinc, wh., French, In oil ....a 15Ochre, yel., French, dry 8 8 8XOchre, ground. In oil... 6 a 98panlahbro.,dry I 00 138bpAn.bro.,gr'd,inoll.VB 8 a ^Parlswhlte.KiiKtilOOibs. 3 ;0 a 3 00Chrome, yellow, dry 12X8 2-1
Whiting, Amer.. »100B ...a IOCVerm'n, CLIna,..|) B, a 1 inVermilion, Trieste, ga •VennUlon.Amei., com. 23 a 37Venet. red (N. C.) * cwt. 3 33 a 2 tOP1nmba«o a 6China cUy * ton.38 OO 826 00(}halk » B ...Chalk, block f ton. 3 M8Barytas, 4c;ierlcaa Na.l a 40 00
FBTROLEUM-Crude, ord'y gravity. lj>
bulk, per gallon 12|^a 1.1
Crude. In bbls ..,, UV0 17Refined, standard white a 22XNaptha, rein., 68-78 grav a 12XBesldunm |g ...
kovuions-rrork,mm « bM(B*«)„ u u au M
Pork, extra prtnw U OO aunPork, prim* mala..... 014 00Bacl.plalnneM 8M 810 00Beef, extra mess 10 OO Sm 00Beerbanis ,...23 00 AU 00Hasu, pleklad »• 98 *HB&ii »«• **
SALT- '*"'''• '" '"' • as • » »Turks Island!. .9 bush a 60Cad I IT .,, Ma 60f!''!p!!>.!''"'^'<"fins....; 3 « S > wLIv'li'l line, Worthlngt's 2 SB a 3 4C
SALWEfel""""'"--"* • •-Kelliied, pure (cash) VB ....a KCrude \t/S ig
SEED-' '<"'»«="''J-«°'»' >Sa 6
Clover VB lOxa IIXTimothy Vbosh. 8 78 S 4 00llemp.fortlgn l 80 #200FlaXHeed. Aiiif'r'n.r'Eh. ... a S OOLVdCaljitN.y.»6«lbgd 2 60 a ....Linseed, Horn, (at M.T.),»l!6 1b gold .... a ...
SILK- * " •
Tsatlce,N08.l,3 ft 8 B8 00 8 75China, re.noled 8 35 a 9 toTay8aam,NQS. I S 4 7 Ou 2 8 00Canton.re-rld.Nos. 1 & 3..6 CO a 6 50Cantou,rc-rld,extquality7 30 7 50Japan 8 00 a 9 OU
speLter- *Plates, for'n.* 100 B.gold 7 00 87 25Plates, domestic ^ B 7 a 11
FREIGHTS- ^«T«Aji , ,—..iiL.-To LiTXBPOOL : 8. d. B.d. s. d. a. d.Cotton V B a .H 8-168....Flour .... bbl .... ai^ ...Tai6B. goods.* ton ^ 6 a80 16 3818 6Oil 8600 ....«3S0C'n.bftb.V bo. .... % Hi ....a 5Whrat..b.4!b. ... 8 t\ ....m sxBeet.... V tee a<6 8 88 .
Pork... *bbL .... 3 ..assToHatub: byaall. |. c. t. c.
Coltoti • B ....a ...
s. d. s. d.Tallow »> B %»....Lard axTobacco » hhd f....Wood. ;-*$-i-iPetroleum ... '"8*.!To Mti.iior«>r. » foot. ....a UKTil Sa-N' FBA.\tis.<0— f c. • C.
ciroii or Steel K.uilii« LocoiuoUves,<'nr«, cic.an<t unuertuKe
all hii**lnc«« ronn««<n«d %vltli Railway
Jones & Sc:huyler,12 PINE STKiJeT.
NEW TOUK.
Rallvray Commission Mercliants.
rou'rac' fir STEI<;L and I tON^ KAILS, LOOOMO-II VES. CAB ', a Hi other S i.ppll :8, au.l neg jtiato
IJilLWiY BOXIJS, LOANS, Sc.
MANCHESTER
Locomotive Works.MANUFACTURERS 01^
Iioeomotives, Stationary Steam En-glue9, and Tools.MANCHESTKR. N. H.
ARETAS BLOOD, W^. G. MEANS,bupcniuehdcnt Tie surer.Manchest'ir, N. H. 42 Devonshire 81., Boston.
"WM. BORDER. L. N. LOVELL.
Borden & Lovell,COMMISSION MERCHANTS
ANDGeneral Agentt.
Borden Mining Co.'sCUMBBRLAND COALS,
ANDFALL RIVER IRON 1VORKS CO.'S
Nalln, Bands, Hoops and Rods,70 aui 71 WEST ST., New York.
Geo. D. Putnam,BOSTON.
Dealer in
RAILROAD SUPPLIESOF ALL KINDS.
Manufacturers Aitent ofHAIU AND WOOL FELT.
GRAND TRUNK RAILW^AY COM-PANY «JF CAN IDA.
Old Rails for Sale.The nnde' s'Kn^d Is prepared to rcc-lve olfera for oldrails to be d. l.vircd dur.nK ihe year -.87^. nel ve'vto be made a' Portia d. Montreal, l oronto Fort tri/
(opnoslt-! Pnffalo). or Sarnl.i.'"'"'"". 'ort trie,
offiT^ tn be lor not less tlian I.OOO tons, and to st«ieprl e per t n of 2,240 pounds. In gold, purcUMers pSv
C. J. RRYDGES,MONTE.AI., Canada, D»c.!8, mi"*"'* °'""<"- '
Rai'roads.
OUADNOEY TIBBAED. ALEX. P. FIBS <
EHKRBOtt FOOTS,
Vibbard, Foote & Co.,40 BROADWAY, NKIV YORK.
Steel Rai)s,
Iron Rails,
Old Rails,AND
RAILWAY EQUIPMENTS.JOHN S. KENNEDY. HUNRT M. BAKSR. JUUNS.BABa&S
J. S. Kennedy & Co.,41 CEDAR sr„ COU. OF WILLIAM ST.
GENERAL RAILWAY AGENT.^ A\DMERCilANiS.
Buy and sell Railway Bonds and Negotiate Loans t >
Railways.
IMPORTERS OFIron Ralls, Steel Rails, Old Ralls,
Bessemer Pis Iron, *orap.Steel Tyres, boiler plutes, t\ c,
AGENTS FORThe Bowling Iron Company, Bradford Kn;?land.The West llumberland Uemati^tf Iron Co., Working-
ton ItuKlimd.Supply all Railway Equipment ami undertake a
Railway business KeiierHlly.
Thos. |. Pope & Bro.,29'3 Pearl Street, New York.
Pig Iron,RAILS, COPPER,
SPiiLTER, TIN, LEAn,NICKEL, BISMUTH, &C.
BALDWIN LOCOMOTIVE WORKS
M. Baird & Co.,PHILADELPHIA.
All work accurately lltted to gauges and thorousrbly interchangeable, plan. Material, WorkmausiiipUnish and Etiicleney luliy guaranteed.M. Baird, Clia^ I . Fairy, Wm. P. HenzeyGeo Barnham. Edw. H. Williarns. Ed. Longitretlj,
Wm. P. Converse & Co.,54 Pine »t.. New York. Agent
Gilead A. Smith & Co.,BARTHOLOMEW HOUSE, BANK, LONDON
AND
NO. 6! BROADWAY, NEW YORK.
Railroad Iron.In Pons ol Nenr York and New
Orleans.
Bills of Exchange on London and clrcnlar Notesamounts to suit remitters or travelers.
Morris, Tasker & Co.,Pascal Iron IVorks, Phlla<Iol|»hiR.
Manufacturerfl of Wrought iron Tubes, Lap Weld;Boiler Flues, Gaa Works CaPtlnjis and Street
Mains, Artesian Well Pipes and Tools,
Gas and Steam Fitters* Tools, &c.
OFFICE AND WAREHOUSES:
Ifi (SOLO ^TaEET, NEW VORK,
NAYLOR & CO.,NEW YORK, BOSTON, PIIILA.,9<lJohn street. 80 State street. 208 So. ith strea
CAST STEEL RAILS,CAST STEEL TYRES,
Cast Steel Frogs, and all other Steel Material forRailway Use.
HOUSE IN LONDONNAYLOR, HENXON H CO.
34 Old Broad Street,
who glT6 special attention to orders for
Railroad Iron,u well a* Old Rails. Scrap Iron and Metals,