andW xtmtk HUNT'S MERCHANTS' MAGAZINB, REPRESENTING THE INDUSTRIAL AND COMMERCIAL INTERESTS OP THE UNITED STATES VOL. 35. NEW YORK, JULY 29. 1882. NO. 892. Financial. AMERICAN Bank Note Company, 143 BROADWAY, NEW YUKK. B(T8INCS8 FOrNDKD ITBS. l«<an»rat«d untUr Lawt of Slalt nt New Tork, 1888. USOUGANIZCI) 1870. BNORATEUg AND PUINTKU8 OF BOiTDS. POSTAOB ASD RBVEXUB STAMPS, LEOAL TENDER * NATIONAL BANK NOTES if Uu UNTIED STATES oivJ for numt Itn*^ Qtver nnwHtt, BNORAVINQ AND PBINTINO or BANK NOTES, STATE AND BAlLltOAD BONDS, SBARB CBBllFWATES. BILLS Ot SXCBANOE. DRAFTS, CHECKS. STAMPS, 4c. IN THE FINEST AND MOST ARTISTIC STYLE FROM CiTEEL PLATE!4, With apeoial nafemurds to prevent CoanltrteUint $r Alteratinju. Hpecial papers manufactured exctu- ilTetr for use of the Cooi^Hnr. Safety Tints. Safety Papers. Work Exccatcd In PIreprooi BalldlnsR. EAILWAY PKLNTING A SPECIALTY Kailwaj Tickets of Iiuprored Styles, WUAor wUhout Coloro, atui Tlckelt of all KituU TllUSTBBS: A. a. Goolall, President, Jo». W. Drexel, James Maodunomfh. Vice- Prcst., 'V. ki. Pori-er, A. O. 6hepHr(i, vice-l'rusident, P. C. L»unsburT. Wm. Main Smiilie, Viue-Crest.. €hh8. Meyer, J, T. Itobertsun. Vico-i'rosident, A. V. Stout, Q, 11. titayner, Treasurer, a. 11. Uantorth, Theo. u. Kreeiand, Secretary. Banque Centrale Anversoise, A N r w E It p . Paid-Up Capital, -"Hi.OOO.OOO Francs. BOARD or DIRECTORS fVLix GRISAH, President. ALrHii) MAyuiNAY (linifrjfc Maqulnaj), Vlofl-Pree J. B. Von itiilK BRCKKtVon der tiecke A Marsilr). Otto (iuNTUicK (Corneiile-Duvid). BHII.K DB UUTTAL. Al>. ITkank (Kranli, .Model * Cte.l Aoo. NoTTHBoHM (.Nottebolim Freres). Kh. Uhanih (MichielM Ixios). Jaa. Dan. fuhuma.vn. Jr. (Joh. Dan. Fuhrmwui.) LocTiH wi£Hi!K(H:d. Weber A v ie.) iULK» KAUTICNHrUAUCkl (C Sclimld A ClO.) TItAVHACTS A GENERAL UANKINU BUSINESS. Asa p. Potter. Preau J. J. KDDy, Cashier. Maverick National Bank, BO!»IOi>i, OAPITAIi, ...-..- $400,000 nVHeiiVH, ....... 400,000 Aeeouots of Banks and Bankers solicited, CoUecttons maoe upon favorable terms. Government Konds b<-nxtlt and sold. Aug. 1. l^ost, Banker, 25 NA.^-S.W STREET, BUYS AND 8KLLS Mate, City and County Securities. COKUiStiPONUKNCK SULICITKD. Samuel M. Smith, 40 WAl.L 8TREHT, • DtALBU IN i'Ur nnllwnr Heeurlllm. <•» and Ban'i Hinclia, Innarasca Hcrl*» FInnncial. DIAMONDS. Alfred H. Smith & Co., 182 Broadway, Cor. John St., IMPORTKRS OF Diamonds, Fine Rabies, Sappliires, and otiier Precious Stones, EXCLUSIVELY. LONDON, 33 H01.B0RN VIADUCT. LIWIS U. Tatlok, JB. LiNDLir HAINES L. H. Taylor & Co., Banker* and BroKem, 140 SOUTH THIRD 8TKEET. PHILADEI^PHIA. Deposits received sumect tu check at sliiht, and intereHt allow id on daily bulaiices. 9tock8, Bonds, &c., bouuht and sold on commtsslon in Phtladelphta and utber oities. rarttcQlur attention >{iven to information resard InK InTeatmenl S*--cariti08. Randall & Wierum, DO EXCHANaE PLACE, Broilers in Itailroad Stocks and Bonds, aiVERNMENTS i fORE/GA EXCHANOB. CUAS. K. RANUALl., Member N. 7.,'4tock Ezctaaniie. Orro c. WiiKuu W, C. FT.evn-.IONK8 William Robison, Members ot tho N. T, Stock Kxcbuoiie. Floyd-Jones & Robison, BANKERS AND BROKERS, Ms. 'i EXCIIANnE COURT. Stocks, Bonds and all Investment Securities bouRht and sold (strictly on cammlasion] for casi< or on margin. EHTABLII^IIKO 1804. Coleman Benedict & Co. No. 21 BROAD ST., NEW YOKlC, STOCKS AND BONDS, MBMBBKS Ot THE N. Y STOCK EXCUANOE A strictly commission business conducted in the purchase and sale of. Stocks and Bonds on MarylD or for In'vestmen*.. Complete Financial Report issued weekly to our correspondents. ERXKST UBOS8BKCK, QBANT B. SCHLir, Members N. V. Stook BxataanKe Groesbeck 5c Schley,' BROKE BS, ' No. 13 'WAL>L 8T6.EET. NEW YORK. Howard Lamley, u. m. willakd, Ueiulieis N. Y, titook Exob, Hkmby Bo^vEB8, Jr. Howard Lapsley & Co., .. HANKERS AND BROKERS. No. B WALL 8 T R K BT . New Vork. Ftnanclai. Jesup, Paton & Co., BANKEKS, S3 William Street, Mew York. Acooanta and Airenoy of Banks, Corporattoiw.. Onus and IndlTlduals received apon favorable terma* DivldeDds and Interest collected and remitted. Act as acents for corporations In paying conpoiu and dividends ; also as transfer agents. Bonds, stocks and seonrltlea boOKhtsnd soldOD eommlssloB, Bound railroad and miinlolpal bonds negotiated. Sterling exchange bought and told. Umfta ob Dninn Bank of Tx>ndon. Caldwell, Hay & Wasubdrm BANKERS &. BROKERS. UNITED BANK BCILDINO. Brandwnr and Wall HU Transact a general Banking Business, Indudlng the Purchase and Sale of all Securities dealt In at the New York S'oek Bzchange. Interest allowed on deposits subject to sight draft CnA«. B. rAi.nwKLU late Wc«l * (^Idwell. SlLABf. IIAV, Member N. V. Stock Kxrbange. Lan8IN'0 C. Wakhuubk, late Wblttingbaa A Washburn. TBOS. A. VT8B. TnO<. A VT8R,JB. C, t. BBOrlt W. B. D. V YHR, JImtbtr AT. r. Stock Mxe»anf. Vyse, Sons & Bioun, U.4NKEaS AND BROKERS, No, 3 WALL STREET. NEW YORK Stocks, Bonis and Oovernraent Securities bougbk and sold on commission. Intercut allowed on de.. post B subject to check at sigh*; E. A. Mauriac & Co., BANKBR6 AND BROKERS, Ne. r Wall Street, Railroad, Mining, and other Stocks. Bonds, (to. bought and sold on i ommiseion, B. A. M/'.URIAi',Member d.Y. Stock Exchange. BYUNKV BI.SIIOP. M. M. liUWl.AND. WM.M. FAEL, A,H.DATT0K. QBO.H, SXAYinna Member N.Y. Stock Kxota. SpeooL Earl & Dayton, BANKERS AND BROKERS bS TO M DRK.TBI, BUILDING, Neiv York. STOCKS AND BONDS BOUGHT AND SOLA STRICTLY ON OOMM188ION. Walston U. Bhowm. Fbco. a. BBOWK. UXUUIKT p. BBOWM, Walston H. Brown & Bros BANKERS, , . • '••'^ -No. 20 Namau Street, 1««liv ^:|(Mk. SPECIAL ATTE-NTIONOIVKN TO-^rtfU i^lfBUHi" TIATION OF •"''— '., ' RAILROAD ABCORrriiS^ - John S. James & Co., Commission Stuck Urtkers, No.. 16 BROAD 8TKEBT, NEW TORH* John S. Jamk", Uemuer N. V. Stock Exclu WABKIX T, JAMM. Aivmoern, i . ovoca ji.,.w. ..- « \ Htoeka. Bonds, Ao., bougM asd «eid t»r fM^ «»,0B
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andW xtmtkHUNT'S MERCHANTS' MAGAZINB,
REPRESENTING THE INDUSTRIAL AND COMMERCIAL INTERESTS OP THE UNITED STATES
VOL. 35. NEW YORK, JULY 29. 1882. NO. 892.
Financial.
AMERICANBank Note Company,
143 BROADWAY, NEW YUKK.B(T8INCS8 FOrNDKD ITBS.
l«<an»rat«d untUr Lawt of Slalt nt New Tork, 1888.USOUGANIZCI) 1870.
BNORATEUg AND PUINTKU8 OFBOiTDS. POSTAOB ASD RBVEXUB STAMPS,LEOAL TENDER * NATIONAL BANK NOTESif Uu UNTIED STATES oivJ for numt Itn*^Qt vernnwHtt,
BNORAVINQ AND PBINTINOor BANK NOTES, STATE AND BAlLltOADBONDS, SBARB CBBllFWATES. BILLS OtSXCBANOE. DRAFTS, CHECKS. STAMPS, 4c.
IN THE FINEST AND MOST ARTISTIC STYLEFROM CiTEEL PLATE!4,
With apeoial nafemurds to prevent CoanltrteUint$r Alteratinju. Hpecial papers manufactured exctu-ilTetr for use of the Cooi^Hnr.
Safety Tints. Safety Papers.
Work Exccatcd In PIreprooi BalldlnsR.
EAILWAY PKLNTING A SPECIALTYKailwaj Tickets of Iiuprored Styles,
WUAor wUhout Coloro, atui Tlckelt of all KituUTllUSTBBS:
A. a. Goolall, President, Jo». W. Drexel,James Maodunomfh. Vice- Prcst., 'V. ki. Pori-er,
A. O. 6hepHr(i, vice-l'rusident, P. C. L»unsburT.Wm. Main Smiilie, Viue-Crest.. €hh8. Meyer,J, T. Itobertsun. Vico-i'rosident, A. V. Stout,Q, 11. titayner, Treasurer, a. 11. Uantorth,
Theo. u. Kreeiand, Secretary.
BanqueCentrale Anversoise,
A N r w E It p
.
Paid-Up Capital, -"Hi.OOO.OOO Francs.
BOARD or DIRECTORSfVLix GRISAH, President.ALrHii) MAyuiNAY (linifrjfc Maqulnaj), Vlofl-PreeJ. B. Von itiilK BRCKKtVon der tiecke A Marsilr).Otto (iuNTUicK (Corneiile-Duvid).BHII.K DB UUTTAL.Al>. ITkank (Kranli, .Model * Cte.l
BOilBSTlO AND FORBIQlf BANKERS.Dtpoilti reoelTed anblect to Dr»n. 8e«urltlej
%•<)> t and auld on ConnilMlon. Interest allowed•noepoalts ForelKQ KichsDiie. CommerclnlCrea-tU. Cable Trauifers. Ircular Letters for Trarel-mn, arailatHe m all parts of th« world.
Attornkts and Aoknts of
iMara J. 8. nOKOAN & CO.,
Mo. 22 OLD BBOAD STREET, rXJSDON.
Brown Brothers & Co.,No. £9 UrALI. ST., N. V.,
SCY AND EIKLL
BIL.L.S OF FXCHANOEON ORKAT BRITAIN AND IRKI.ANI), FRANCE,OKRMANT, BKI.OIUM. SWITZERLAND, NOR-WAY, DBNMAKK. SWUUBN ANUUOLLAND.iMBe Commercial and Travelers' Credits
ATAILABLB IN ANT PART OF THE WORLD.And In Franca, In Martinique and Guadalonpe.
HAKE TELEGRAPHIC TUANSFERSOP inONEY
BBTW^ES THIS AND OTBEB COVNTItlES.flIAKE COLLECTION- OF DRAFTS drawn
abroad un nil uointa In the United Suitea andCanada, and of Drafts drawn In the
United State* on Forelsn Countries.
J.& W. Seligman & Co.,
BANKERS,IfO. S3 BROAD STREET,
New York.
Iisne Letters of Credit for Travelers,
AtTobla la any put of Europe, Asia, AMo, Ani-AniU and Aaerlea.Draw Bills of Erchange and make Telegraphic
Letters of Credit and Drafts issued on the 8tbranches of the Bank In the CoUmies of Queensland.New i*outh Wales, V ctoria. South Australia, Tasmo*nia. and New Zealand. Bills neKotinted or sent forCullectlon. TeleKraphlc transfers made. l>eposil«ret elve<1 m London at Interest for fixed periods oaterms which may be ascertained at the uftice.
PRIDKAUX HKLBY, SecreUrv.
Hong Kong & ShanghaiBANKING CORPORATION.
CAPITAL (paid-up) »^0L-.,RESERVE FUND S,ieO^
HEAD OWFJOB, BONO BONO.The Corporation frrant Drafts, issue Letters •<
Credit for use of Travelers, and neKotlate or colletBills payable at Bombay, Calcutta, Singapore, SalnoaManila, Hons Kong, Foochow, Amoy, Niniraadhanffhal, Hankow, Yokohama, UiOKO, Ban Praael^CO and London.A. ni. TOWNNEND. Avent. 4r WIlllaiB Si.
HEAD OFFICE, MONTREAL.QiSOHOB HAQUB, Oenerat Manager.
BANKERS:LONDON, ENO.-The Clydesdale Bank (Limited.)NKW YOHK-The Bank of Now York, N. B. A.
The New York Aireroy buys and sells Sterling Ex-chaniEe, <'Hble Transfers, Issues Credits available Inall parts of the world, iniikes collections In Canadaana elsewhere, and Issuoa Drafts payable at any oftheottlces of the bank in <:unadH. Demand Draftsissued payable in Scotland and Ireland, and everydescription of foreinn biinkinu business undertaken.
New York Agency, 48 Exchauge Place.UKNKY UAGUK, i AientsJOHN B. HAKKIS, JH.,}**®""'
Chlcuco Branch, 138 WaaliiuBton 8trect.
J. 8. MDKUDITU, HanuKer.
Bank of Montreal.
CAPITAL,SVRPIiVS,
- $13,000,000, Oold.5,500,000, Gold.
C. F. 8MITHERS, ProBldcnt.
W. J. BUCHANAN, General Jlarager.
NEW YOHR OVFICE,Noa. 59 dc 61 WALL MTREET.
Walter Watson,* .„„,,ALEl'll I^ANO, j
Agents
Buy and sell Sterling Exchange, Francs and Cable
Transfers : grant Commercial and Travelers Credits
avii'.able In any part of the world; issue drafts on
anJ make collections in Chicago and throughout
the Dominion of Canada.
London Office, No. 9 Blrchln Lane.
Imperial Bank of CanadaCapital, $1,000,000.
H. 8. HOWLAND. Pres't D. B. WILKIB, Cashier
HEAD OFFICE, TORONTO.BRASCHES:
St. Catharines, Port Colborne, St. Thomas, Ingersoll,Welland, Fergus, Woodstock, Winnipeg, Man.
Dealers In American Currency & Sterling Exchange.
Agents In London ; | Agents In New York:BOSANQUET. SALT & Co., Bank op Montheal,
73 Lombard Street. I S» Wall Street.
Promptest attention paid to collections payable In
any part <jf C-anada.Approved Canadian business paper, payable In
gold or currency, discounted at the Head olfice onreasonable terms, and proceeds remitted to anypart of the United Stiites by draft oo New York.
AGENCT OF THE
Bank0»
British North America,No. 63 WALL 8TKEET.
Buy and sell Sterling Exchange and Cable Trans-
fers. Issue demand drafts on Scotland and Ireland,
also on Canada, British Columbia, Portland, Oregon,
8an Francisco and Chlcag -.
Bills collected and other banking business trans-acted. D. A. McTAVniSU. \ i„.nts
W. LAW80N, r
Gzowski & Buchan,Baksebs and Stock Bbokbbs,
toronto canada.
Prompt attention given to Collection of Commer-cial Bills and Canadian Funds on all points in Cana-da; American anJ Sterling Exchange, and Stocks,Bonds, etc.. bought and sold.Ctirrespondents— Uaiik of New York, New York
and Alliance Kank. Londop.
New Kni;laiitl Bankers.
Noiv England Bankers.
Brewster, Basset & Co.,
BANKERS,No. 36 CONGRESS STRBKT,
BOHlTON.MBMBBRS OF THE NEW YORR AND BOSTON
STOCK BXCIIANOES.
ALSO.
Dealers In Municipal, State. Railroad and
United State* Bonda.
josbt7a wilbour, chari/i8 h. shxi.non, jb.,Bknjamin A.Jackson, Wiliiam Binnkv, Jk.
Wilbour, Jackson & Co.,BANKERS AND BROKERS,
Jja WEYBOS8ET STREET,PROVIDEXtE, R. I.
Dealers In Commercial Paper, Government andother first-class Bonda and Securities and ForeignExchange.Private Telegraph Wire to New York and Boston.
C. E. Jackson & Co.,jniDDLETOWN, CONN.,
Buy and sell aovcrnmont. State. Municipal and
Railroad Bunds and Stocks. Investments for Sav-
ings Banks a specialty. Correspondence solicited.
Bank of Deposit,84 Devoniihirc &.'iO Water 8ts., cor. opp. P.O.
BOSTON.Interest on acposits subject to check.Ponds and iither investments bought and lOlA.Correspondence invited.Orders executed ai Boston and Ifew York SlotkExchanges, of which we are members.
F. A. Hawley & Co.,BANKERS.
Ptalladelpbia Bankeri.
E. W. Clark & Co.,BANKERS,
No. 33 South Third Street, Philadelphia.
DEALERS IN CAR TRUSTS AND OTHER IN-
VESTMENT SECURITIES.
Stocks and Bonds bought and sold on Commission
Geo. C. Thomas. Jos. M. Shoxuakeh.
Tower, Giddings & Co.,i; A N K E K 8 ,
No. 10.; nEVONSHIRE STREET,BOSTOX.
Orders for Stocks cxectitod in Boston, New York andother markets.
Thomas & Shoemaker,BANKERS AND STOCK BROKERS,
.
134 Bontb Third St., PHITADELPUIA.Dealers in all issu*'* "f United States Bonds.
IiiTestment SecuritieB h Mpeclultjr. Correspondence
invited and full information upon tlnancial subjects
furntshed.
J
Baltimore Banker*.
ohn A.Hambleton&CoBANKERS AND BBOKESa,
No. 5 HOVTII STREET,BALTIMOIIK.
ConnMfed ^v Special TTIrt icUk Ktvi Fork and PkOo-Attphia Cerrefptmd^nfJ.
Transact • Qeoeral Banking Buslneea.
Buy and sell on Commission In this and other oltiM
all descrlptloni of Stocks, Bonds and Securities.
Special Attention given to Inregtmentt.
Ixians negotiated an 1 advanoeamade oncollaterals.
Deposit! reeelTcd subject to check at sight.
Collections on all polnti In U. S. and Canada.
A. P. Turner & Co.,BANKERS,
No. '.£07 Walnut Place, PHII.ADELPIIIA.Government, State, Municipal and Railways Bonds
and Stocks bought and sold at all the EccnanKes.InvestmentB prudently D:a1e in sound railway ae*curtties. Collections promptly attended to.Correspondents carefully represented at Auctions
and Private Sales. Bond .of good but not well-known railroads always wanted for investments at
ttie best rales. Orders nn riLnrKins not enrertaini d.
Baltiinoro Bankers,
Parker & Stackpole,BANKERS,
:No. 60 DEVONSHIRE STREET,
BOSTON.
J, W. MinnEXDORP. W. B OUVKU, C. A. AlbebtlMembers Baltimore Stock KxchanKe.
MiddendoTf,Oliver& CoBANKERS AND BROKERS,
S. W. Corner Uerinnn Jk !^aiith Sts.,
P. O. Box 227. BALTIMORE, niD.Special attention plven to the n''«otlati'»n of For
elgn Bills of Kxchunge, Collateral Loans and Com-mercial ruper.INDICATORS AND TELEPHONE; IN OFFICE.
Robert Garrett & Sons,BANKERS,
No. r 80CTII STREET,BALTIMORE.
TRANSACT A QENEnAL DOMESTIC AND FOBRIGN BANKING BUSINESS.
Soutlicrn Bunkers.
Wilson, Colston & Co.,BANKERS AND BROKERS,
B.vi.TmonE.INVBSTMENT and VIRGINIA SECURITIES a
specialty.Correspondence soUdteJ and Information fur.
nlahed.N. Y. CoBBUPOKDKNTS—McKlm Brothers k Co.
THOa.P.MIU.EB, B. D.irlLt.IAH8, JNO.W.MIIJJBCHAS. B. MILLIH.
Thos. P. Miller & Co.,BANKERS,
IHOBILE, ALABAMA.Special attention paid to collections, w<tb prompt
remittances at current rates of ezchanse on day oxpaTment . „Correspondent*.—National Bank of State of New
Terk, New fork : l^oulslana National Bank, MewOrleans; Bank of Liverpool, Liverpool.
E. E. HUKBUHS, fres t. A. K. Walkib, Caataier
First National Bank,VriLiniNGTON, N. €.
Collections made on all ports ot the United States
Wm.C. Coubtket, Pres. EBSfBST II. PBiKeLB.Caah
BANK OF CHARLESTON,KAiiONAi. Banking Associatiox,
CHARLESTON, 8. C.SPICIAL ATTBHTtOS OIVKH TO COU.ICTIOK8.
R. H. MAURY dc CO.,STOCK BR0KER9,
RICHMOND, VIRGINIA,Buy and sell QoTernment, State, Municipal and
Railroad Bonds and Stocks, he. Vlrittnla StateTax-Recelvable Coupons bought and sold. All orderspromptly attended to. _ ^
New York CorrespifBdent. YERMILYB i, CO.
MERCHANTS' NATIONAL BANK,RICHaiOND, VIRGINIA.
Collections made on all Southern polnta on bestterms ; prompt returns. _ _JOHN P. BRANCH, President.John F. OLiNN.Cash. fbkd. B. scoTT.Vlce-Pres't.
TnOiHAS BRANCH & CO.,BVNKRBS AND COMMISSION MERCHANTS,
RlCiniOND, VIKGIMA,Information on all claases of Southern Secnrltlea.
especially State Bonds, Tax Coupons, Ac. Cor-respondence solicited.
'Wc§lcrn Bankers.
Tarvis, Conklin & Co.,KANSAS CITY, RIISSOVRI.
FIRST MORTOAGH LOANS upon ImproTrdfarms In the best portions of Kansas and Missouri,worth from three to six limes the anioun' loaned.Interopt 7 and 8 per cent semi-annual, and alwayscollected and remitted to Investor free of charge,over a million dollars loaned and not a dollar lost.
Savings banks, colleges, estates and private indi-viduals who want SaT'K and PROFITABLE Inveat-ments, write for circular and full information.
John V. Hogan & Co.,113 No Third Street, Sc. Louis, AIo.,
DEALKR3 IV
Western and Southwestern Municipal and RailroadBonds or Stocks.
Defaulted bonda a specialtr. Choice tnTestmentsecurities alwara for sale. Write to us before youbuy or sell any Illinois, Missouri or Kansas bonds.
Sam'l A. Gaylord,ST. I.OVIS,
DEALER IN WESTERN SECURITIES
Defaulted County, Tpwnshlp and City Bonds ot
Misaourl. Kansas vid Illlnoia bought at best rates
Investment Securities for ».ale. Correapondenco
solicited.
It THE (milONK^LE tVoL. XXXV.
Wcilcrii Duiihcia.
Uiu. A. LcnrB rres't. A. L. ScaMiDi, Cuhler
First National Bank,U. 8. DEI 08[TORY,
LOUISVILLE, KBNTUCKY,
Special atwntlon glTgn to oollecllons. Proceeds
promptlr reissued at best rates. Aocounte of
BsBlu and Bankers solicited.
THE WESTERNFarm Mortgage Co.,
LAWRENCE, KANSAS,OfflwstolnTOTtorsthe boet securities In the market.FIKST MOKTGAOK LOANS UPON IMPKOVKDFAKMS. luterest and principal paid on day or ma-turltr in .New Vork. Fand.s promptly placed. Ijirge
. No l0880«. Senil for circular, referencesforma. K. M. PKKKINS, President; J. T.
^Icc-Prest.: h. H. PEKKI.NS, Secretary;
. W. GllAJSl'T, Treaa. N. F. UABT Auditor.
P. F. Keleher & Co.,SOS OLIVE STREET, ST. LOUIS, Mo.Ftnrt,*l«sa Western Investment Securities for sale.
St. Louis tity and States of Missouri, Kansas 'lexas,
Arkansas and Oiloniilu Ilonds a specialty. f"ull In-
fonnatlon given In reference to same on application.
Conpons and Dividends collected.
Taos. M. Thornton. Wm. W. Thornton, Cast.
W. F. TIIORXTOX ^k SO.\,(Established 18S9,)
BANKERS AIND BROKERS,8HELBYVIL.LE, ILLINOIS.
• Collections made In Shelby and adjoining CountiesMid Proceeds remitted on liay of Payment.REKEHK.NCKS—National (sankof Commerce.New
York. Union National Bank, Cincinnati. ThirdNational Bank, St. Louis. Traders' Bank, Chicago.Indiana Banking Company, Indianapolis.
Financial.
Financial.
Bhkkuan S. JKW«TT,Pree. JOSIAH JEWITT,V-PrcsWiixiAU C. CoRNWiLL, Cashier.
Bank of Buffalo,CAPITAL S300.000.
BUFFALO, N. Y.
This bank has luperlor facilities for maklnR col-lectloDB on all accessible points in the UnitedStates. Canada and Kuiupe. Liberal terms extt^ndedto accounts of bunkers and merchants.CuHHBSPONUKNTS.—New York, National 8boe &
liOatber Bank; I.ondon, Union Bank of London.
Geo. K. Sistare's Sons,17 NASSAU ST., NEW YORK,
DKALERS IN
FIRST-CLASS UKYESTIUENTS.Buy and Sell on Commission, for oash or on mar>
fflja. all aecnritiee dealt in at the New York StockRxcbange.Interest allowed on daily balances.All deposits subject to check at sight.
Particnlar attention to orders by mail or tele-
Krapb.
Wood, Huestis & Co,
31 PINE ST., NEW YORK,BANKERS ANU UROKERS,
6UCCK8S0US TO
WOOD &. U.WIK.Bzecute orde!rs in all securities listed ut the NewYork Stock Exchange. Fur Sale.FlUST-Ct.AS8 KalLKOAl) "Isr MOKTOAOK BoNDS.OKOROB C. WOOD. 0. U. HUESTIS. L. M. 8W Aj,
R. A. Lancaster & Co.,BANKERS AND BROKERS,
«6 BROADWAY, NEW VORK,DEALERS IN
FJr«t-Cla«» luvestment Securltlea.eOVKKKMENT BONDS, STATE. CITY, COUNTYBAXLKOAU ft MIBCKLLANEOU8 SEctlllmKS
Bought and Bold on CommlBalou
aOVlaSBS SKCURITIBS ASPEQ1AL2TLOANS NKGOTIATED.
INTKRKST ALI,0WED ON DiPOSITS.
STOCKS and BONDSAt Auction.
The Undersigned hold REGULAR AUCTIONBALES Of all classes of
STOCKS AlVB BONDSON
WKDNE8DAYS AND SATURDAYS.
ADRIAN U. HIJEEER & SON,»__ Mo, 7 PIKE STREET, NEW YOBK,
JOSKPH P. LLOTD. W. C. MCKBAN,- Member Of N.Y. Stock Ezch'se.
Lloyd & McKean,No. 34 "VrXXilj STREET, NEIT TOBK.
BUT AND SELli-ON COMMISSION
GoTernment, Rallwray and mseella-neons Securities.
Colbron, Day & Field,
BANKERS AND BROKERS.
No. 17 New Street, 130 La 8alle Street,
NEW YORK. CHICAGO.
Stocks and bonds bought and sold for oa«h or
on marKln.
Interest allowed on deposits, subject to check at
sight.
axoBOE Stakk. John F. Stabs.
George Stark & Co.,BANKERS,
No. 33 Nassau Street, Neir ITork,
TRANSACT A GENERAL BANKING BUSINESSAND BUY AND SELL INVESTMENT
SECURITIES.Have constantly on hand and for sale
WESTERN CITY AND FARM MORTGAGES,Bearing 7 to 8 per cent Interest.
WESTEIlN MUNICIPAL BONDS.Circulars with full particulars mailed on application.
C^ Co.BANKERS.No. 18 VYALL. STREET,
New York.Transact a General Bankins Business, Including
t le purchase and sale of STOCKS and BONDS forc sh or on raaryin.
Buy and Sell Investment Securities.- O. BOX 2.B47
A. M. ClDDKO. WAVL/Kn TiiSK. H J. MOIOE.vv 1 . Hill.
B A N K E R 8 ,
38 Broadway, cor. Exchange Place, N. YBranch Office, 1'.28 La Salle St., Chicago.
TRANSACT A GENERAL BANKING BUSINESS.INCLUDING THK HUKCHASE AND SALE OFSTOCKS AND BONDS FOR CASH OR ON MAH-OIN. BUY AND SELL INVKSTMENT SECURl-TIKS. INTEREST ALLOWED ON DEPOSITSSUBJECT T<i CUECK AT SIGHT.
P. O. Box 447.D. A. BooDY, C. W. McLeLLAK, Jb.Reuben Lkland. F. G. Saltonsiai.i..
25 fiNe §T. - r^euu^ORK?
Purchase and sell on Commission GOVERNMENTand RAILROAD BONDS and STOCKS, and all
classes of Securities dealt In at the NEW YORKSTOCK EXCBANGB, or all reputable Securities
bought and sold In the OPEN MARKET. LOANSand COM.MKRCIAL PAPER negotiated. Interest
paid on DEPOSITS, subject to check.
BANKERS,VNITED BANK BUILDING,
DTall Street, Corner Broadway.STOCKS, BONDS <t COMMEBVIAL PAPER.Stocks and bonds bought and sold on commission at
New York Stock Exchange. Advances made on busi-ness paper and other securities.
Wh. D. Hatch,Member N. Y. Stock 1 cch.
Wu. B. Kknoall.
No. 31 WAIil. STREET,
BANKERS AND BROKERS,B«fei to mmui. riBK A HAica.
Financial.
James T. Bates & Co.,(ESTABLISUED 1868,)
BANKERS AND BROKERS,mUs BnUdlns, New York.
Members of the New York Stock Exchange.Checks and Cable Transfers on JAMBS T. BATES &
20 EXCHANGE PLACE, NEW YORK.Orders executed onCthe London and Bonweao
Uarkets. Hi ft- __
juLi 29, i8ea.j
Financial.
AmericanFINANCE COxMP'Y,
3 & r NASSAU ST., NEW YORK,31 S. THIUD ST., PHILAUEI^PUIA,
rOllTLANO BLOCK, CHICAGO.
Capital StocK, "T~. . $1,000,000
SODND INVBSTMKNT SECUKITIKS fornlslied
to Corponito and Private Inyestorii.
CAPITAL FUUNISHEU Oil PROCURED for
lUilroad Corapiinlos havlnu lines under construc-
tion, and their Bonds purchased or noKOtlated.
FINANCIAl. NKGOTIATIONS conducted for
Counties. Towns and Cities, and tor Railroad Companics and other Corporations.
WII/L CONDUCT TUB KINANCIAI, RK-OR-OANIZATION of Railroad Compan'os and other
Corporations whose property Is In the bands of
RecelTcrs or Trustees.
WILL BUY AND SKLL INVBSTMKNT SECUR-ITIES on Commission.WILL BUY OR SKLL DKFAULTKD BONDS or
conTert them Into Interest-paylnK Investments.
Circulars and other information furnished on ap-
plication.
JOHN C. SHORT, President.JOHN C, NEW. Vice-President.Wn. P. fVATSON, Sec'r and Treas.
The Brooklyn Trust Co.Cor.oX Hontafine & GUaton sts., BrooUrn, N. Y.
Thla Company l8 authorized by special charter toact as receiver, trustee, Kuardian executor, or a<3-
tnlDLstrator.it can act as asent In the sale or management ot
feal estate, collect Interest or dividends, receiveTeai.>4try and tninsfcr books, or make purchase and•ale of Government and other securities.
Kellgious and charitable institutions, and personsanaocustomed to the transaction of business, willttnd this Company a safe and convenient depositoryfor money. CHA8. U. MAKVIN. Vice-Pree't.
TRUSTEB8 :
Wm. B. Kendall, Henry Sanjier, Alei. McCue,John P. Rolfe, Chas. R. Marvin, A. A. Low.E. V. Knowlton, Abm. B.Baylis, Henry K.Sheldon,H. i£. Pierrepont, Dan'K'huuncey. John T.Martin.Alex. M. White, Josiah O. Low, Kdmund W.Corllea
Frederic Crcimwell.WM. H. BiTNKKR. Secretary.
Hekrt N. Bkush, Comptroller.
Sondlts ofSu-fetyship.FIDELITY at CASUALTY CO.
OF NEW TORK.Assetfl $380,003 00Capital Invested in U. S. Bonds 250.000 00On depos't with Insurance Department,. 100.000 00
OfflclHls of B:tnk4. ttaiiroads and TriLnsnortattonCompanies, Managers. .Secretaries and Clerks ofPublio Cum pan lea, Institutidns and CommercialArms, can obtain security from this Company atmoderato charKes.The botfc is uf this Company are accepted by the
courts of Llie Stut! of New York.Full information as to details, rates, Ac, can be
obtained on appUcation to head office, 170 Broad-way, N. Y,Wm. M. RicnARDS. Prest, Jouw M. Crans, Sec'y.
W. Hakvey Lke, Inspector.DiBBCTORa—Ueur»fe T, Hope.U, O. Williams, Geo.
8. Coe, Charles Dennis, J. S. T. Stranahan, A, B.Hull, A. S. Barnes, S, B. Chictenden, H, A. Hurlbut.W. G. Low, David Dows. J, D. Vermllye, Alex.MltcbeU, Wm. M. Richards.
Bonds of Siii*etysliipFOR OFl'lCERS ANT> KMPL0YKB8 IN
POSITIONS OF TRUST.
The Oaiarantee €o.OF NORTH AMERICA.
OMh Capital 1800.000Cash Assets over 360,000Deposit with Insurance Department 200,000
President: Manajdnsr Director:8nL Aucx. T. Galt. Edwaki) Rawu^'ob.
NEW YORK OFFICE:No. 178 BROADWAT.
NEW York Directors.—Joseph W. Drexel, A. L,Hopkins, H. Victor Newcomb, John Paton, DanielTorrance, Kdw. F. Winslow, Erastus Wiman.
TransaotB no other business.;
Francis Smith & Co.,Indianapolis, Ind.; montgom.rr, Ala.
SELECTEDHORTOAGE LOANS.NORTHERN 6 TO 8 PEE CENT NET.BOUIHERN 8 TO 10 PEE CENT NET,
AlaoUeneral Invest meut Brokers and Attorners,
Hatch & Foote,BANKERS, No. 13 WALL STHEBT,
BUT Ajm SXLI,
OOTBBNMKNT BONDS. STOCKS AND 1U8C1IL.LANKOCS SBCDBlTlfHa,
THE (.^HRONICLK
Financial.
Stewart Brown's Sons,No. 38 PINE STREET,
NEW YORK.
Government Securities, Stocks & BondiBought and Sold on Commission.
D. A. li:A.STO]V,with Boody, McLellan A Co., Bankers and Member*
New York Stock Exchange, 58 Broadway.
Clonnty, City Jt Town Bonds st West.Stat^^Wiscon in Central Ittt. OiU baud Grant Bonds.
St. Joseph & Western UK. Stock,rt. Joseph * PaclMc KK. Honds.City or St. Joseph vlo.. Old Bonds.International Improvement Co. Subsonptloni.Brooklyn ICievateo KK. ^«ouritlea.
Ameruan Cable Co. Subsi;ri./tlu.s.
Midland Bailroau of N.J. SecuritiesChicago & Grand Trunk KK. decuriclas.
South Carolina UK seuurilies.
Grand Rapids* Indiana KH. stock.
ClnoUmtUl BiOhn-ond .X Kort Wayne StWlk.
Bouffhl by W-U, K* VTrUm\9"'iTo.Sl htm STIMtKT. NUW tOBK'
THE CHRONICLE. [Vol. XXXV.
Financial.
Minneapolis & St. Louis
RailwayFIRST MORTGAGE
Tblrty-rear 7 Per Cent Gold BomdaON THE SOUTHWESTERN DIVISION.
AIM 6 PER CENT GOLD FORTY-YKAK FIRSTtlORTUAUE BONDS ON THE PACIFIC DIV-ISION.
^^^ g^j^^ g^
MORTON, BLISS & CO.,
No. its NASSAU 8TRKET.
Gargiulo & Co.OFFER A LIMITED AMOUNT OF
FIRST-CLASS RAILROAD BONDS,XT A PRICE WHICH WILL INSURE 7 PER
CENT TO THE INVESTOR.Futtcnlars at their ofBcc,
70 BROADWAY.
J.C. Chew,
Ho. 7 WALL STREET, NEW YORK.TEXAS KAII.1VAYS,
BONDS, LANDS, &e.DMlrable Texu Securities for Inveitment coa-
taDtlr oD band
TEXAS & St. Lodis Co.nstruction fund,MissoLiu AND Arkansas Companies,
St. Louis, July 25, 1882.
AN INSTAI.MENT, No. 7, OF 10PER CENT is hereby called from the subscribers
to the above fund, payable to the CKNTltAL TRUSTCOMPANY of New York, on August H, 1882. CertlU-oatea are to bo presented for Indorsement and thebonds appertaining to this instalment will be deliv-ered by the Trust Company im soon as countersigned.
I. W. PARAMORB, Trustee.
"POCHESTEB & PITTSBCRG RAII.-ROAD CO.—Couponsiol the First Mortgage Bonds
of this company maturing August 1, 1882, will be paid
FFICK OF PIIL,1.MAN'S PAL,ACECAR COMPANY, CuiCAdO, July 22, 1882.SIXTIETH QUAKTBRLY DIVIDEND.
The usual quarterly dividend of TWO (2) PERCENT on the capital stotik of this company has beendeclared payable Aug. 15 to stockholders of recordAug. 1, at the following offices
:
The Farmers' Loan & Trust Company, New York.New England Trust Company, Boston.Company's Office, Chicago.
Transier books will ckise Aug. 1 and reopen Aug. 16.A. S . WE1N8HE1MKR, Secretary.
'^OTICE.—THF COUPONS OF TH£First Mortgage Bonds and interest on the Guar-
anteed Preferred Stock of the Louisiana & Missouri
River Railroad Company, and Interest on the Pre-ferred Stock of the Kansas City St. Louis & ChicagoRailroad Company, maturing August 1, 1882, will bepaid on and after that date at the office of Messrs.JB8UP, PATON & CO., No. 5'^ William Street, NewYork.
New York, July 18, 1882.
QALVESTON HARRISBVRG & SANANTONIO RAILROAD CO. Coupons due the
16tb proximo will be paid on and after that date atthe office of Messrs. DREXEL, MORGAN & CO.,comer Wall and Broad Streets, New York.
CHAS. BABBIDGB, Treasurer.
THE LAKE SHORE dc mcHIGANSOUTHERN RAILWAY CO.
TaEASURKR'a Office, Grand Central Depot )New York, June 27, 1882. i
The Board of Directors of this Company have thisday dechired a QUAHTEUI.Y DIVIDEND of TWOPER CENT upon its capital stock, pavable on Tues-day, the lirst day of August next, at this office.The tr.uisfer hooks will be closed at 3 o'clock P M
• on MONDAY, the THIRD DAY of JULY next, andwill be reopened on the morning of Friday, the fourthday of August next.
E. D. WORCESTER. Treasurer.
NOTICE.-THE FIRST NATIONALBANK OF TERHE HAUIE, located at TerroHaute, in the State of Indiana, is closing up itsaffairs. AM note holders and other creditors of saidassociation are therefore hereby notified to presentthe notes and other chilius against the association forpayment. U. S. DEMING, Cujhler.Dated June 29, 1882.
«, ^.^mer.
The above Is to conform to the law. The new bankwill continue business under the same name and inthe same place, and under the same management.^
H. 8. DEMINO. Ca.shler.
l^OTICE—-^Tho FIRST NATIONAL BANK OP TROY,(No. SOJ, located at Troy, in the State of Ohio, sclosing up Its amars. All noto-holders and othercreditors of said Association are therefore herebynotified to present the notes and other claims againstthe Association for payment
,
IJ. W. SMlru, CashierDated Jime 10. 1882 '
'•''""'-^-
O T I C E .-THE IIAItnONY NA-TIONAL BANK, located at H,-,nnony, in the
Slate of Pennsylvanln, is closing up its uffiilrs.All note-holders and others, creaiti-is of said asso-
ciation, are therefore hereby notlUed to present thenotes and other claims a^inst the association forpayment. U. J. ZUTCHELL, Caahler.
Finuncial.
OFFICE OF
NEW YORK ONTARIO & WESTERNRAILWAY CO.,
as WAIil. STREET,New York, July 20, 1882.
Notice Is hereby given that the Board of Directors,
having resolved to dispose of the West Shore Rail-
way Company's bonds owned by this company, offer
the right to subscribe for the same on special terms
to the stockholders of this company.Printed circulars giving full information and sub-
scription blanks may be obtained on and after July
29, 1882. upon application at this office.
For the purpose of this subscription, the transfer
books of the company will bo closed on Saturday,
August &, 1882, at 3 P. M., and reopen on the morn-ing of Tuesday, August 15, 1882.
Stockholders of record at the date of the closing of
the books as above, or those holding assignments of
the rights to subscribe pertaining to the stock, maysubscribe under said circular from Aug, 7th to 14th,
1882, inclusive.
By order of the Directors.
JOHN L. NISBET. Secretary.
A PRIME HOME INVESTMENT.
Long Island Railroad
FIRST MORTGAGECONSOLIDATED 5 PER CT. BONDS.
P.\.YABLE 1931,
INTHKEST QUARTERLY.A limited amount for sale by
CORBIN BANKING CO.,JAMES G. KING'S SONS,KIAXTTELL ic GRAVES.
Coupons Collected.Coupons of July 1st, 1880, to January Ist, 1882,
inclusive, on Louisiana 7 per cent Consols at thereduced rate of Interest, will be collected, at a chargeof one-fourth per cent and exchange, by
STATE NATIONAL BANK OF N. 0.
T. R. ROACH, Cashier.
CHICAGO & NORTHWESTERNFive Per Cent Sinking Fund Bonds,
DUB 1929.
PRICE PAR AND INTEREST.For sale by
KHHN, LOEB & CO.,No. 31 NASSAU STREET.
THELeadville Gaslight Co.,
Got. H. a. W. TABOR, President,
HAS ISSUED
^100,000First Mortgage Sinking' Fund Bonds,
PAYABLE IN NEW YORK,WHICH I OFFER
AT A PRICE TO MAKE THEJI AN 8 PER CENTPAR INVESTMENT.
Descriptive pamphlets furnished on application.
A. >VIL,KIK$, 74 Cedar St.
Albert E. Hachfield,17 NASS.1U STREET,
Deals In Inveiitnieut Secnrltlen andBondu Generally.
WANTED:Indianapolis k St. Louts Ists.
Columbus & Toledo Ists.
Joliet & Northern Ists.
Cincinnati Richmond A Fort Wayne Stock.Cincinnati Hamilton Jt Dayton Bonds
Car Trust Bonds.WE MAKE A SPECIALTY OF THESE VERY
SAFE SECURITIES, A.ND bUV AND SELL SAMEAT MARKET PRICK.WE OFFER A LIMITED AMOUNT OF DESIR-
ABLE CAR TRUST ISSUES, ADDITIONALLYSECURED BY THE DIRECT OBLIGATION OFTUEllAILROAD EQUIP.HENT CO.UPANY.
POST, niARTi:^ &, CO.,E4 Prafi SIREET.
Financial.
The New EnglandMortgage Security Co.,OFFER FOR BALK AT PAR AND ACCRUla*
INTEREST PROM JULY 1,
5 PER CENT TWENTY-YEAR BONDS.
$1,000 Each, Due July 1, IdOX.SECURED BY
First Mortgages on Improved Farms,
Quaranteed, Principal and Interest, by its
CAPITAL, STOCK OF $1,000,000Interest Coupons payable January 1 and July 1.Bonds registered to order or payable to bearer at
option.A pamphlet with full information will be sent on
application to the Company's Office.
43 nULK STREET, BOSTON.These bonds are commended to the attention of the
most conservative investors, as they are believed tobe as perfect a security as can be obtained.The issue of bonds is limited by law to an amount
not exceeding Ave to one on the paid-up capital. Thesecurity of each bond is not confined to a single mort-gage, but extends over all the mortgages owned bythe Company.The cvpenence of the past seven years has fully
demonstrated the high clvlracter of the mortgages lawhich the Company Invests. '£his Company receivesno deposits, gimrantees no other securities, and hasno other debts than its bonds.
CHARLES L. FLINT, President.
3. F. F. BREWSTER, Treasurer.VICE-PRESIDENTS
;
TnOS. WIOGLE.SWOBTH, GEO. C. RiCnAROSOH,EusuA Atkins. John Wubstkr,
Auos T. Frotuinoham.DIRECTORS
:
Hknby Saltonstall, Austin Corbin,Edward E. Pratt. J. Baxter Upham,I. D. Fabnbworth, Gilma.v s. Moulton,
Charles l. Flint.
NEW YORK LACKAWANNA & WEST-ERN RAILWAY COMPANY
FIRST MORTGAGE SIX PER CENTBONDS OP 1921.
Interest payable semi-annually upon the first
days of JANUARV and JULY.This road forms with the Delaware Lackawanna
&, Western Railroad a direct through line from
NEW YORK TO RCFFALO.The Mortgage Is a first lien upon the equipment
as well as upon the Road.FOR SALE BY
MOSES TAYLOR &. CO.,52 WALL STREET
R.J.
Kimball & Co.,BANKERS AND BROKERS
No. 40 BROADWAY. NEW YOR.K.
Thirteen Years' Membership Id New York StockKjcchan^e.
R. J. Kimball, A. B. IjOunsbkkv, F.E.BallardMembers N. Y. Stuck Exchange.
Kountze Brothers,BANKERS,
130 Broadway (Equitable BuUdlng;/,NEW YORK*LETTERS OF CREDIT AND
CIRCULAR NOTESIssued for the use of trarelers in
all parts of the world.Bills drawn on the Uuiuii Bank of London
Telegiiiphio transfers made to Liondon and tovarious places in the United atates.
Deposits received subject tu check at s],(ht, and In-terust ulluwed on balances.
QoTernment and ot'ier bonds and inveHtment se-curities bouiibtund Buld on oommisslon.
SinnctrTrask.Geo. F. Fcdbody, Fred. B, Noyes.
Spencer Trask & Co.,BANKERS AND BROKERS,
70 Broadway, New York City.
Transact a general Banking Business
Stocks Bought and Sold on Margins.
Interest allowed on Deposits.
BKANCn officks,
Contiecled by Private Wire*,
Philadelphia, 132 S. Third St., C. F. Fox.
Albany,N.r.,65 & 67 State St.,W.A.aBATBS
Saratoj^a, N, Y., Grand Uoiou Bot«l
xmmHUNT'S MERCHANTS' MAGAZINE,
REPRESENTING THE INDUSTRIAL AND COMMERCIAL INTERESTS OP THE UNITED STATICS.
[Entered, acoording to act of Congreat, In the year 1882, by Wm. B, Daux & Oo., In the office of the librarian of Oongreas, Wacblngton, D. C.J
VOL. 35. SATURDAY, JULY 29, 1882. NO. 892.
CONTENTS.THE CHKONICLE.
Bank Certifleation Again 115Differential Kates and theCommlssloncra' Report IIG
The Flnaucial Sitiiatiou 117Mr. Qladstone and the War inEgypt 119
lllinoia Railroad CommissionRevising its Schedule 120
Monetary and GommerelalEnglish News 121
Commeroial and MiscellaneousNews 123
The Commercial and Finakcial Chrosicle U ptMuKed inNew York every Saturday/ morning.
{ Entered at the Post Offloo, New York, N. Y., as second-class mall matter. 1
TERMS OF SUBSCRIPTiON-PAYABLE IN ADVANCEiFor One Year (including postage) ijflO 20.ForSixMonths do 6 10.Annual subscription in London (including postage) *2 78.Blx mos. do do do 1 8s.
Babacriptions will be continued until ordered stopped by a toritUnorder, or at the publieaiion offlee. The Publishers cannot be responsiblefor Remittances unles.s made by Drafts or Post-Oftlce Monev Orders.A neat file cover is furnished at 50 cents ; postage on the same is 18
eenta. Volumes bound for subscribers at $1 00.
WILUAU B. DAHA. ( WILLIAM B. DANA fc 00., Publishers,JOHS a. FLOTD. 1 79 & 81 WiUlain Street, NEW YORK.
Post Office Box 958.
BANK CERTIFICATIONS AGAIN.One of our most trustworthy daily papers headed its
"Washington telegrams one day this week : " Congress
Q-etting Tired." Several circumstances seem to confirm
that statement. In the first place the weather is hot, and
hot weather is very apt to make men tired. Then again,
the public, the party of the first part, has been tired fer
some time, and nothing is more natural than that their
representatives shoulJ, after a little, reflect this weariness.
Furthermore, prostration is only another name for reac-
tion after the sturdy efforts this session to avoid a record
and yet appear to effect something. An English writer
has truly said that it jerks one terribly to kick at nothing.
To illustrate this latter point, recall what Congress has
attempted, done and left undone with regard to business
interests. In the first place after a violent struggle it
hung up all legislation with regard to customs duties for
a year by a tariff commission, which commission is nowbusily engaged in the cool breezes of an ocean beach
working hard to do nothing, and thus fulfill the ostensi-
ble purpose of its creation. Having so adroitly hamstrung
tariff reform, Congress next turned its attention towards
relieving the public from some of the worst internal rev-
enue imposts. Saveral months have been spent on that
subject, good speeches have been made for circulation on
every conceivable point and taking every conceivable
view, and as the people pay the money they can take
their choice. Having done so much the Senate this
week lays the bill aside for further consideration next
—
session. In case any one wants to express the beliefs
as made up from these speeches of either party on this
important subject, the statement would follow somewhatin form the stump speech by the politician who was try-
ing to straddle the Mexican war question as reported by
Hosea Bigelow.
" Uz (or the war I go agin It
;
. That is to say I kinder do.
'Cept that perhaps now we are In it—
It might be well to put It through."
One measure—and we believe only one—directly affect-
ing business interests, has been pressed through all its
stages and is now on our statute books. It is a queer
mixture of very good and very bad ; reminding one that
Congressmen, if we may judge them by their works, are
not so very unlike the little girl in the primer, wko,
when she was good, was very, very good, and when she
was bad, she was horrid.
The measure we refer to as having been perfected is
the Bank Charter bill. We have perhaps discussed this
law sufficiently already. But during this week we have
heard of an interesting incident which illustrates its
operation. One of the best national banks in Illinois
drew on its correspondents here a check for $38,000.
A day or two since this check was brought in for certifica-
tion. The Illinois bank that morning happened to
be short in its account some two or three thousand
dollars, and of course, therefore, the officers of the
institution to whom the check was brought,—although
running no risk and being entirely willing to do so,
—
could not certify it without making themselves criminals,
that is liable to arrest and imprisonment. Probably the
mail the. next day brought remittances to several
times the amount of the check; but the law is explicit
and admits of no exception, so the officers to avoid the
penalty had to " resort to the device " of paying the check.
This, as we showed last week, is a violation of the law,
and one of those wicked " evasions" against which Sena-
tor Beck has so feelingly and emphatically spoken.
But consider for a moment the possible results of this
one transaction if Mr. Beck and his followers had been
obeyed, and we shall see how this tinkering with business
machinery in a spirit of petty prejudice, by legislators
wholly unfamiliar with commerce, may before we know it
affect all our material interests. Here on the one hand was
the check of as good a bank as exists which happened to
reach the city in advance of its remittances and which its
correspondent here was called upon, if it strictly obeyed
the law, to throw out and dishonor. That is the exact
truth and the whole truth. This instance, though, cov-
ered the case of a bank of the highest credit, and as
the transaction could be quickly explained the effect of
discrediting the check of such an institution if it had
been done would be only temporary. Suppose, however,
that the bank had been less above suspicion or that the
obligation had been that of an individual, and further
116 THE CHRONICLE.IVol. XXXV.
that the transzwtion had occurred at a time of uni-
versally impaired credit and general suspicion instead of
general confidence ;— any one who has an appreciation of
the delicacy of commercial relations and the effect of the
least taint on commercial honor, can see that by obeying the
law under such circumstances an irreparable injury
might have been done not alone to a few persons but to
•the entire community.
Then again the act of the New York correspondent
required the use of $38,000 in currency to cash the
•check, whereas certification would have taken the check
through the clearing house the next morning, when prob-
ably the whole debtor balance of the city bank would
not have equaled this one obligation. Nor is this by any
means a solitary case. There are many similar, only vary-
ing in amount, occurring every day, altogether aggregating
a large sum. So that if this mode of dealing with such
•checks offered for certification should become general,
banks would require to carry much larger reserves than
they now do, and in times of stringency the custom would
be especially disturbing. We need not, however, enlarge
upon this point, for to any one at all familiar with our
currency condition and with bank operations, the far-
reaching effects of such a change are obvious.
Is it any wonder then, that when the business public is
told that "Congress is getting tired," it is received as a
not unwelcome announcement ?
DIFFERENTIAL RATES AND THE COMMIS-SIONERS' REPORT.
No one who has made a study of the differential rate
question will fail to recognize its difficulties. Not only
are varied and conflicting interests involved, but the very
principle of action which alone can govern in matters of
that kind seems to be in dispute. That is to say, very
many intelligent persons in neighboring cities whose
opinion in ordinary cases would carry not a little weight,
seem strangely befogged on this issue and inclined to lay
down bases of action for the New York roads, which if
imposed upon themselves as business men would be
unhesitatingly and indignantly rejected. Yet the prompt-
ings of self-interest cannot be ignored. Self-preservation
is the first law of corporations, as it is of individuals and
of nature generally. In obedience to this law the NewYork roads have time and again been compelled to engage
in a conflict with the roads to the other seaboard cities,
and time and again has the warfare been successful in
accomplishing the purpose for which it was carried on.
Only in the latest contest was there a cessation of strife
before a definite determination of the point in dispute.
After si.x months of the most desperate warfare a tem-
porary truce was agreed upon, which has now, it wouldappear, developed into a more or less permanent peace.
A Trunk-Line Commission of three disinterested persons
was one of the conditions, perhaps only an accompaniment,of the truce, but its functions were to be purely
advisory. This Commission has this week published its
report, and the report has attracted much attention andbeen variously commented on in different quarters.
The question at issue is simple enough, but, as said, a
satisfactory settlement is quite the reverse of simple. Likethe problem of squaring the circle, we all know just whatwe should like to see done, but no one has yet been able
to demonstrate how to do it. Philadelphia and Baltimoreinsist upon the maintenance of differential rates. NewYork will not, can not for any length of time, submit to
it. To our mind, as intimated above, the law of compe-tition is the only element to be taken into the considera-
tion. But Philadelphia and Baltimore, with perfect
sincerity apparently, maintain that this should be only
one of a number of factors to enter into the problem.
With, then, these large cities as the disputants, with such
great interests involved as the trunk lines represent, andafter years of contest intermitted by times of peace, it washoped that finally a way out of the labyrinth was to be
devised—some plan so wise as to commend itself to the
general public—by the three eminent gentlemen who for
several months have sat as a board to pass upon the dis-
puted question. Perhaps this was too much to expect.
At all events, that hope has not been realized, for at beat
the report must be characterized as unsatisfactory and
inconclusive.
The matter is treated with great fairness, much ability,
and judicial gravity; nevertheless the outcome of their
labors seems insignificantly small when compared to the
time, money and consideration devoted to the question.
They take up and discuss separately the three principles
which have been urged before them, namely the distance
principle, the cost principle, and the principle of compe-
tition. With much ingenuity the two former are
demolished, as not only every New Yorker but every
unprejudiced and clear-thinking person outside of the
cities interested supposed they would be. The weakness
of the distance principle is seen when we consider its appli-
cation to the case of roads serving the same city. Take
the Eri3 and the Central : under it these roads to NewYork would be compelled to charge, upon traffic from the
same interior point, not the same figure on each, but a
different figure, the road of longer distance, requiring
possibly a longer time in transit too, asking more than the
shorter road. Or perhaps the argument is even stronger
if we take the other trunk lines into the account. Both
the Pennsylvania and the Baltimore & Ohio carry to NewYork, but as between these and the Erie and the Central,
on traffic from Chicago to New York, the Pennsylvania
would get all the business to this port on the distance
principle, for it has the shortest line, and the two roads
considered as peculiarly New York roads would not be
able to serve New York at all. The report of the Cora-
mission tells us that the line of the Pennsylvania is 47
miles shorter than that of the Erie and its connections, 50
miles shorter than the Central and connections, and 114
miles shorter than the Baltimore & Ohio and connections.
Under such conditions what would become of the NewYork business of the chief champion of the distance prin
ciple were the rule which it seeks to enforce adopted ? The
Commissioners apparently did not think it necessary to
enter into any elaborate remarks as to this principle, con-
sidering its non-applicability so obvious.
In the same way, the cost principle will not stand the
test of reason. The Commissioners deplore that no pre-
cise and definite information as to the cost on the different
roads was placed before them. Of course, to determine
the exact cost of moving a particular kind of freight a
particular distance over a particular road is not easy, but
probably the companies, had they felt so disposed, could
have furnished some pretty reliable data. Their neglect
to do this is no doubt to be ascribed to a desire to
keep such knowledge from the public, since it* might be
made the basis of unfavorable action against them. But
even if the cost were known, this could not, as the Com-
missioners say with much force, be used in fixing charges,
there being so many other considerations to be taken into
account. In such charge, too, it is argued, the relative
amount of debt and capital would have to enter into the
problem, since every road is entitled to charge enough to
pay interest on its debt and a fair amount on its stock,j
But this would certainly result in diverting the busiaeaaj
Jci,T 29, 1882,] THE CHR0Nl(3LE. 117
from those strongest financially to those weakest financially;
and those which from their condition had no dividends,
and perhaps no interest, to pay, might get all the business.
Leaving out, however, all reference to stock and debt, and
supposing for the sake of argument that the New York
Central can carry cheaper, as respects the mere cost of
moving freight, than any other line, and were willing to
content itself with but a small profit, this would shut out
from New York not only the Pennsylvania and the Balti
more & Ohio, but even the Erie, leaving this port with
only one outlet. "It is not to be assumed," the Commis-
sioners say with reason, " that this is what New York
desires." The great difficulties in the way of the adop-
tion of the cost principle are alluded to in detail and
brought out with much clearness, and this part of the
report may be recognized as possessing much value.
Since, therefore, the distance principle fails, and the
cost principle is equally impracticable, there remains only
the principle of competition. But even this has its diffi-
culties. A great part of the shipments despatched to the
seaboard are destined for foreign ports, and though
usually received by the merchants at these cities, and then
by them shipped to their final destination, yet the railroad
charge must be so graded that the total charge from the
centre of production to the foreign port is no higher via
one seaboard city than via another. Thus terminal rates
for storage, ocean rate?, etc., form part of the problem.
Now with New York having an advantage in the matter
of ocean freight, as the Commissioners find it has had, a
differential rate in favor of the other seaboard cities, and
against New York, would appear justified. But as this
would make the railroad charge higher to this port than
to the other cities, and it is impossible to distinguish
between shipments for home consumption and those for
export, the difference, if large enough, would lead the dis-
tricts now supplied by New York to seek their supplies
elsewhere. On the other hand, if the railroad charge
were alike to all the ports, the Pennsylvania in carrying
from the West to New York via Philadelphia would have
to carry trafiic a full 87 miles (that being the distance
between Philadelphia and New York) for nothing or give
up doing business with New York. Neveitheless, the
principle of competition is the only true principle and the
only one that can be put into practical operation, though
it is not free from embarrassment.
It is not wonderful, therefore, that the Commissioners
have decided in favor of this principle. It is the only
principle that any one familiar with the ways of doing
business would accept as a guide. Indeed, most persons
would have thus decided off-hand without going over the
extensive ground covered by the Commissioners. Even
the Philadelphia and Baltimore people, did they fully com-
prehend that this was the only point at issue, would, we
believe, agree as to it. The difficulty is that these persons
overlook the fact that the course taken by the New Yorktrunk lines last summer was forced upon them by the
exigencies of New York's business demands. The Com-
missioners' labors will not have been altogether in vain if
their report serves to enlighten some of these. But this
is really the only possible good that can result from their
investigations. No one will deny that the Commis-
sioners have made a thorough examination into the
subject in order to inform themselves, that they appear
fully to comprehend it, and that they display no preju-
dice. Yet their work is altogether barren of any practical
outcome. After spending months and taking forty pages
of printed matter to show how exceedingly compli-
cated the question is, the conclusion arrived at is
suBuned up in the remark that "no evidence has been
offered before us that the existing differentials are unjust,'
but they significantly add " we do not assume that therates which are just to-day will be just indefinitely " in
other words, it may be necessary to change them to-mor-
row or the day after. This reminds us of the action of acolored Coroner's jury in the South. The dead body of a
freedman had been found under circumstances that seemedto excite suspicion of foul play. The Coroner impaneled
a jury and made an investigation which removed all
suspicions of an unnatural death. Knowing the charac-
ter of the jury, he cautioned them to bring in a verdict
"in strict accordance with the facts," which remark hereiterated several times by way of impressing them with
its importance. The jury returned with this unique ver-
dict :" We report dat de man am dead—at least he am
for de present." So the Advisory Commission leaves the
question of differential rates just where they found it.
Incidentally, we may remark that the Commissioners'
report is probably just what the railroads desired it
should be. They are at present at peace and unwilling to
see the slalug quo disturbed. A report in favor of the
existing condition of things, therefore, without doubt meets
with their approval. The report has in some quarters
been interpreted as against New York's interests, but this
is correct only as concerns the statement that the prevailing
differences in rates do not atpresent appear to be unjust. TheCommissioners distinctly state that these differences " con-
stitute a temporary arrangement only," and that " when-
ever they shall be found to operate unfairly," " it will be
right to modify, or perhaps abolish them." But who is to
judge whether they are operating unfairly or not ? Evi-
dently nobody but the railroads themselves. Indeed,
these must always be the arbiters of their own fortunes.
And no one is more competent to decide the question than
they. The Commissioners were selected for their inex-
perience in railroad affairs, but it is clear now that this
could only have been a drawback. At any rate, it is
obvious that on questions of railrosid policy only railroad
men—and railroad men having a personal interest in the
matter—are competent to decide. Laymen are very poor
persons to consult. Whenever, therefore, Mr. Vanderbilt
finds that the Central is again losing business by reason' of
the discrimination against New York, wo may expect that
he will again make efforts to have this discrimination
abolished. How soon this will be, is of course a matter of
doubt. Through the late war the Central has in a meas-
ure, it is believed, regained its former proportion of the
business. With a large volume of business during the
next twelve months, as by reason of the promise of abun-
dant crops now seems probable, the inevitable day may be
staved off for some time. But sooner or later self-interest
will compel Mr. Vanderbilt to renew the contest.
TJIH FINANCIAL SITUATION.Never within our experience have our people submitted
to torrid temperature with the equanimity that prevails at
the present moment. "Good for corn" seems to have
become the familiar substitute for "pleasant day," as
friend meets friend in business circles, and it is always
said and received with at least an appearance of satisfaction,
though both speaker and hearer are sweltering under the
heat. And so it is good for corn, and for wheat and for
all the crops, especially as the heated term seems now to
be followed in the more richly producing sections with
timely rains. To-day the indications point at least to the
largest yield of wheat, oats and other small grains, hay
and root crops ever recorded ; while with a fine August
and late fall, the prospects for cotton are all that
could be desired, and for that other staple—for whicb
118 THE CHRONICLE. fVoL. XXXV.
these burning days are now so patiently endured—really
promising.
These assurances naturally stimulate business enterprises
all over the country. In sections where the evidences
of prosperity are more palpable, merchants are making pre-
parations for an active fall trade, which are reflected in the
wholesale circles, so that manufacturers and importers are
feeling now the first effects, and anticipating a full and
healthy demand for goods. Of course active business
must quickly inure to the benefit of the railroads which are
to convey the grain and other produce to market and dis-
tribute among interior points the merchandise bought in
exchange for produce. Under the influence of this fact
the spirit for stock speculation seems to have become so
infectious as to be extending widely, and among many
classes, and hence the enthusiastic buying of share prop,
erties which has been characteristic of the market ever
since the beginning of the month. Undoubtedly the
railroads will have a largely increased business this year,
and with rates maintained that must result in augmented
earnings. This truth is the basis of these purchasers'
greed, and from it they draw the hasty conclusion that a
brilliant future for all properties never mind how heavily
encumbered, is assured. So they buy shares in almost any
railroad, and hold them for a profit. The speculative
craze is thus again seizing upon a very large portion of
the community.
"We have now reached the stage when " points " are
freely circulated, greedily received, and promptly acted
upon. The novices who always swallow everything afloat,
apparently forget that the majority of railroad managers
are also speculators in the stocks of the lines they control,
and that in such cases special information by which a judg-
ment can be formed of the intrinsic value of the property
is carefully concealed from the public until these man-
agers have had an opportunity to profit by it. It is really
wiser to believe the opposite of what one hears on "Wall
Street than to accept it all as if these managers had taken
the Street into their confidence. Still there is no use in
giving advice to one who who has taken the fever. It
must run its course. There are properties dealt in on "Wall
Street which have real merit and it is not diSicult for those
who are so disposed to find them. If people who buy
stocks were as careful and discriminating as they are
when investing in real estate or even a horse, there
would be less damage to the business interests of
the country by these fitful movements. The banks
can, and do to a certain extent, act as a check by
refusing to loan upon fancy collateral except under certain
conditions. Some brokers also aid in discouraging opera-
tions in worthless properties by requiring their customers
to buy them outright instead of purchasing upon margins.
But neither banks nor brokers can absolutely remedy the
evil, and even the victims of misplaced confidence soon
_ forget the lesson they have been taught by the sudden
disclosure of the worthless character of the certificates
with which they have been saddled.
The market was until Tuesday afternoon similar in
many respects to that of last week. Each morn-
ing prices opened higher than those at the close of the
previous day by reason of the accumulation of orders,
chiefly from the interior, which came by mail and wire,
and in the scramble to execute, these stocks were forced
upwards. The natural reaction lasted but a short time,
and then the market again turned upward, and continued
more or less strong during the day. On Monday the
transactions were enormous and generally at advancing
prices. On Tuesday the speculation halted, on the an-
-nouncement that $1,500,000 gold had been engaged for
shipment by "Wednesday's steamer on account of the
Italian loan, and on that day a spasmodic advance in the
rate for money to 5 per cent caused some conservative
operators to inquire if the pace of the market was not a
little too rapid. The discovery was then made that there
had been very heavy realizations during the advance, andit was naturally inferred that the inside operators hadmanaged to distribute a large portion of their holdings
presumedly among outside speculators. Operators for a
decline took advantage of this condition of the marketand pressed certain specialties downward on "Wednesday,
renewing their attack on Thursday, but the decline ap-
peared to bring in liberal orders to buy, and in the after-
noon of that day the market was turned upward again, the
Southwesterns and Granger roads leading by reason of the
prospect for an immense grain trafBc, and the "Vanderbilt
stocks closely following. Yesterday another attempt to
force values down was made, but, as before, it met with
only partial success.
It appears that the question of percentages of east-
bound business of the roads in the trunk-line pool has
been referred to Mr. Charles Francis Adams as arbi-
trator, Mr. Fink having been unable to make an arrange-
ment satisfactory to all the lines. It is presumed that
the roads have agreed to abide by the decision of the
arbitrator, otherwise it would be useless so to refer the
matter. The decree may be deferred for some time, but
it is probable that the decision will be made before the
fall business commences.
"With the exception above noted, money has been
in good supply during the week, although there are
unmistakable indications of a speedy hardening of the
rates. Time loans are now in request, and the transac-
tions thus far reported are at 6 per cent for six months on
stock collateral. The banks are doing comparatively lit-
tle in commercial paper, and are evidently preparing for
an active demand for money within the next sixty days.
The grain movement in the Southwest has been heavy,
and for the past ten days St. Louis reports a gain of over
1,000,000 bushels compared with the same time last year,
and the increase at that point and at Chicago is reported
at 2,409,078 bushels. The domestic exchanges at these
cities have fallen during the' week to 59 cents per
$1,000 discount and on Thursday and Friday the
rate at St. Louis was $1 discount. This shows that the
drain upon this centre for money with which to movethe crops is about to commence, and it is at least two
weeks earlier than it began last year. Customs receipts
at this port have been heavy, as will be seen by the table
below, and they are likely to continue large. On Tuesday
next $3,5 13, 159 will be due from the Treasury for interest
on the extended 5 per cents, and on that day a call for
$15,000,000 bonds will mature; but it is scarcely reason-
able to look for the prompt surrender of much more
than half of this amount, so that the Treasury disburse-
ments on account of interest and bonds may not be more
than $10,000,000 during the first week. "Whether or not
this will be enough to meet the demand upon this centre
remains to be seen. The Treasury operations for the week,
exclusive of the receipt of $1,507,22.8 54 from the Assay
Office, have resulted in a gain, which is a loss to the
banks, of $2,518,837 72. The following will show the
interior movement.
Seceipis al and ShipmenUfrom N. T. Received. Shipped.
$1,758,00019,000
f823,000Gold
Total $1,777,000 $823,000
The Bank of America received no gold on account of
the associated banks this week, and paid out $1,350,000,
July 29, 1868.] THE CHRONICLE. 119
of which $500,000 was to buy bars for shipment to
Europe.
Considering the fact of the shipment of $1,500,000 gold
to Europe, the bank return of this week will be indicated
by the following.
Tnio Bankt. Out ofBanks Net Loss.
Bub-Treasury operations, net... *1,777,000
$2,518,838
823,0001,507,228
$2,518,838•951,000
Gold exported tlili week 1,507,228
Total SI ,777,000 $4,849,066 $3,072,060
* Gain.
The foreign exchange market has been quiet but firm
during the week. The demand is steady for sight bills
and cibies, doubtle ss because of remittances for stocks
sold here for Euro pcau account. The supply of commer-
cial bills is small and the exports of produce noticed last
week have been slightly checked by an advance in ocean
freights caused by the withdrawal from the lines of
steamers required by the English government for the
transport ai troops to Egypt. The collapse in the wheat
speculation at Chicago and reports that the attempt to
make an August corner in cotton has been abandoned,
lead bankers to expect a more liberal supply of bills in
the near future. Speculators have found it profitable to
trade in securities between this market and that of Lon-
don, and the following will show the margin of profit for
these transactions at the opening prices of each day.
N. r. C. 188-37 13S*( 138-11 IMW 136-36 185« 136-11 185H 136-60 138MBeadia? 3l-26t 63« 31-63t «3« 30-77t 61)4 30-WOt om 3139t 88M
Xxob'ge,cables. 4-B0« 4-90K 4-90« 4-90K 4-90«
* Expressed m their New York equlraleot.
f ReadiHK on basis of tSO, par value.
The Bank of England return for the week shows a
decrease of £321,000 bullion and there was a further loss
on balance on Thursday of £26,000. The proportion of
reserve to liabilities is down | per cent compared with
last week. The Bank of France reports a gain of 8,009,-
000 francs gold and of 1,661,000 francs silver, and the
Bank of Germany since last report has increased
3,740,000 marks. The following exhibits the amount of
bullion in each of the principal European banks this week
and at the corresponding date last year.
Banket EnglandBankot FranceBanket Germany
Total this -week
Total previous week
July 27, 1882.
Oold.
23,314,041
39,187.0767,031,250
Silver.
46,299,175
21,162,750
09,585,967 07,461,925 58,832,503 71,266,640
69.539.700 07,255,698 58.680.438 71.202,052
July 28. 1881.
aold.
£26,2o6,5i0
25,337,753
7,218,500
Silver.
19,611,149
21,655,500
UP* The above gold and silver division of the stock of cu(nof the Bankor Uermany is merely pojiular estimate, as the Bank itself gives noInformation on thut point.
The Assay Office paid out $133,179 through the Sub-
Treasury during the week, and the Assistant Treasurer
The serious news from Egypt and the bombardment of
Alexandria have greatly inflaenced businesH, both in a commer-cial and financial sense. There has not, indeed, been maehchange in the position of the money market, bat the rates of
discoont show a trifling improvement, the quotation for three
months' bank bills being 2@2^ per cent. The market has, how-ever, been greatly wanting in animation. It had been anticipated
that with the return of the autumn trade, bills would becomemore plentiful, and that a larger degree ofactivity would mani-
fest itself in money. The troubles in Egypt—a termination to
which it is very difBcult to foresee—has greatly disorganized
our Eastern trade, and has also materially affected other
branches of our commerce. The Suez Canalis still open, andmerchants hope that the Government will soon be enabled to
state that it may be traversed with safety; but there are risks
at present, and several lines of steamshipH hare given ordei»
for their vessels to proceed to the East via the Cape of OoodHope. Now that we are approaching the period when the newcrops become available for exportation, the extension of the
passage is of importance to our commercial interests, and for
that reason news from Egypt is awaited with great anxiety. It
is very evident that Oriental diplomacy requires to be dealt
with with a firm, if not unsparing, hand, and it is to be hoped
that the rising in Egypt will be as snccesHfully dealt with
as was the rebellion in India in 1857. The mercantile classes
are trusting that the Government, having now gained a position
of great importance, will place the future of Egypt in such a
position that another return of anarchy will be nert to an
impossibility.
There has been a " settlement " on the Stock Exchange this
week, and, as might have been expected, much excitement and
depression prevailed. With the exception of American andCanadian, securities have been offered freely, without finding
buyers, and consequently prices have declined considerably
Turkish and Egyptian stocks have experienced a heavy fall,
and the latter are proving a serious loss to those who bought at
high prices, believing that the investment was a sound one.
The following is a comparison of the prices of Egyptian
securities to-day with the highest quotations current last year:
July 15. Jllghett1SH2. 1881.
Egyptiau Daria Sanieh 4»>a 79%Kgyptian 6 per cent uiilfind 50H 81Egyptian 5 per ceut preference 76 100>4Turkish, 1865, 5 per cent bonds 10\ 17%Turkish 6 per cent bonds l-IH 20HTurkish, 1869, 6 per cent bonds 12 19'»'lurkish, 1871, G per cent Egyptian Tilbute 57'a S0%Egyptian, 1873 H 1»»S
The Egyptian nnified debt was dealt in yesterday as low
as 47?6.
Money during the week has been in quiet demand, but the
rates of discount have been steady and are quoted as follows:
Per cent.
Bank rate 3Open-market rates—30 and 60 days' bills 2»2>«Smonths' bills 2®2>8
Oi)en market rates— Per cent.4 montlis' bank bills 2 a2>t6 mouths' bank bills 2 -32%4 dc 6 months' trade bills. 3 9 3 >«
The following are the rates of interest allowed by the joint-
stock banks and discount houses for deposits:
Per cent.a1%2 •
Joint-stock banks -
Discount houses at call - -
Do with 7 and 14 days' uotioe
Annexed is a statement showing the present position of the
Bank of England, the Bank rate of discount, the price of
consols, the average quotation for English wheat, the price of
and the Bankers' Clearing House return, compared with the
three previous years :
CirculationPublic depositsOther depositsGovcrnui't securities.Other securitiesRes've of notes & coinCoin and bullion inboth departments..
Proportion of reserveto liabilities
Bank rateConsolsf-:iiir. wlieat, av, priceMid. Upland cottiiu..
No. 40 mule twist
1882.«
26,971,5904,132.347
27,433,81314,64!1,47122,607,22812,455,951
1881.M
27,260.3704,75-;,3-29
28,716,','0416,27 1.say20.195.-i2915,113,373
1880.a
27,158,9955.049,671
26,9i)8.51715. "145,92117,970,74716,561,976
1879.X
29,328.1404,049,54»
33.511.23816,719,64217.Ml6.3U21,137,927
23,677,541 26,653,743 29,020,971 36,46C,067
39013p. c.
,!)9%46s. 9(1.
7d.10%d.
44 Tg
21a r- c-
lei's46s. 8d.69,6d.10 •i^^:
2>3 p. o.
98 >«
438. 9d.b'Vl.imd.
S p. C.97''8
43s. 4d.6%d.9'4d.
fieariua House rct,'"n.'l06.505.OOO 101.763,000 124,760.000 104,999,000
The following are the current rates for discount at the prin-
cipal foreign centres:
122 THE CHRONIC ^LE. [Vol. XXXV,
Madrid
Bankrate.
jn-.et.
.. 4
.. 6
.. 4Js
.. 84
.. 5
Opeiimarket.J'r. cl
43413St. Pet«rabnr«
.
644®3
Coponhagoa . .
.
Bombay4
Bank Openrate, market.
Pr. et. Pr. ct.
Parli 31* 319
Brussels 3'^ sji
Amsterdam 3ia SHBerlin 4 SJaHamburg gjii
Frankfort SJaVienna 4 3i>8
Owing to the Egyptian war the orders for silver on Indian
account hav* been stopped and the price has, in consequence,
declined ; the fall during the week has been Md. per ounce.
Mexican dollars are also cheaper. Business in exchange has
been at an almost complete standstill. At the weekly sale
of India Council bills on Wednesday, out of £200,000 only
£12,000 on Calcutta were sold at the official minimum of Is. 8d.
the rupee. The following prices of bullion are from Messrs.
Piiley & Abell's circular:
GOLD. 8. d. 8, d.
Bar gold, fine per oz. standard ®Bar KoUl, contaiuliift 20 dwts. sUvor, per oz. standard. ...... ®Spanish doubloons peroz. .3 10 @South American doubloons poroz. 73 SJa® ^- vVulted States gold coin peroz. 70 3h^ <6 3%German gold coin peroz. ®
The Midland Railway of Canada invite applications to
£610,800 sterling consolidated mortgage bonds at the price of
£95 per £100 bond. The present issue forms part of a
consolidated mortgage security specially authorized by the
above act for the purpose of (1) taking up and redeeming
outstanding bonds of the above companies amounting alto-
gether to £1,521,300 ; (2) making provision, at the rate of
£5,137 (.?25,000) per mile, for the construction and equipmen
of the Toronto & Ottawa Railway ; (3) providing £60,000 fo
improvements now in progress on the Grand Junction section;
and (4) £351,000 to be issued as required for enlargements and
extensions of the consolidated company's works, if and whenauthorized by a general meeting of the shareholders.
The prospectus of an important undertaking has just been
issued, viz., that of the National African Company, limited
vfith a capital of £1,000,000. The board of directors is iniluen-
tial, and it is proposed to open up trade with the territory
adjoining the River Niger and its important tributary, the
Bincie, or Chadda. It is also intended to trade with the coun-
tries of the Central Soudan, with which commercial relations
have hitherto been almost entirely neglected.
The directors of the City Bank (limited) have just issued
their half-yearly report and balance-sheet to the 30th ult.,
showing a gross profit of £113,161, inclusive of £5,384 brought
forward. Provision having been made for current expenses
and rebate, they have declared a dividend at the rate of 10
per cent per annum, added £25,000 to the reserve fund, whichis thereby raised to £355,000, and carried £8,320 to the current
half-year. A comparison of the balance-sheet with that pre-
sented to the shareholders six months ago shows an increase of£260,000 in the paid-up capital, to £800,000. The deposit andcurrent accounts stand at almost the same figure,, but the
acceptances are £290,000 higher. On the assets side, cash in
hand has increased by £26,000 and at the Bank of England by£52,000. The amount lent out at " call" is £423,000, against
£315,000 shown in the preceding statement. The items of
investments and bills discounted show no change worth noticing,
but advances are £147,000 lower at £2,303,306.
Tenders for £1,650,000 Metropolitan Board of Works 3 per centconsol.4tock were opened at the Bank of England on Tuesday.The total amount applied for was £2,534,400 at prices varyingfrom £96 (the minimum) to £99 per cent. Tenders at £97 23.
will receive about 85 per cent of the amount applied for, andabove that price in full.
The number of failures in England and Wales gazetted dur-ing the week ending Saturday, July 8, was 216. The numberin the corresponding week of last year was 203, showing anincrease of 13, being a net decrease in 1882, to date, of 570.
The number of bills of sale published in England and Wales forthe week ending July 8 was 906. The number in the corre-
sponding week of last year was 1,021, showing a decrease of
115, being a net decrease in 1882 to date of 774. The numberpublished in Ireland for the same week was 24. The number in
the corresponding week of last year was 43, showing a decreaseof 19, being a net decrease in 1882 to date of 258.
The traffic receipts of railways in the United Kingdom since
July 1 have amounted to £1,149,432 on 13,149M miles, against
£1,123,682 last year on 12,909 miles, showing an increase of
239% miles, or 1'85 per cent, and of £25,750, or 2'29 per cent.
On the three principal Scotch lines since February 1 the receipts
have been £2,832,301, against £2,750,226, being an increase
compared with last year of £82,075, or 3 per cent.
The Crown agents for the Colonies are prepared to issue
Mauritius Government 4 per cent consolidated debentures
to those holders of the 6 per cent debentures, redeemable on
November 15, who may prefer to receive the new 4 per cent
bonds instead of the repayment of the old bonds. The newissue is limited to £52,000.
The weather during the past week has been finer on the
whole, but it has occasionnlly had an unsettled appearance.
The harvest is being delayed and the hay is being gathered upwith difficulty. The cutting of cereals will not probably be
general in the south of England until the first week in August,
and even if that be the case, fine, bright weather will be neces-
sary. The rain has been of benefit in many respects, especially
to pastures and roots, and there is every prospect of an ample
supply of cattle food for winter consumption. The wheat
trade during the week has been firm, and prices have risen Is
to 2s. per quarter.
During the week ended July 8 the sales of home-grownwheat in the 150 principal markets of England and Walesamounted to 14,190 quarters, against 16,140 quarters last year
and 15,753 quarters in 1880; while it is computed that they
were in the whole kingdom 56,760 quartets, against 64,560
quarters and 63,012 quarters. Since harvest the sales in the
150 principal markets have been 1,760,937 quarters, against
1,638,075 quarters and 1,316,606 quarters, the estimate for the
whole kingdom being 7,043,750 quarters, against 6,196,300
quarters in the corresponding period of last season and 5,291,820
quarters in 1879-80. Without reckoning the supplies of produce
furnished ex-granary at the commencement of the season, it
is estimated that the following quantities of wheat and flour
have been placed on the British markets since harvest. The
visible supply of wheat in the United States is also given:
1881-82rmports of wbeat-cwt. 5 1,309,011Imports of flour 8,624.611Sales of home-grownproduce ....30,522,900
Total 90,456,523Deduct exports orwheat and flour 1.218,751
1880-Sl.49,903,12311,059,854
1379-80.50,718,1868,961,247
1878-79.42,578.2957,903,330
26,850,630 22,931,220 41,220,320
87,813,612
1,266,354
2,610,953
146,542
91,701,915
1,643,518
Result 89,207,774 86,547,258 82,464,411 90,038,427Av'ge price of English „ ,
.
. . „
,
wheatfor season (qr.) 46s. gd. 43s. 3d. 463. 5d. 40s. 8 d.
Visible stipply of wheatintheU. 8.... bush.10,000,000 16,000,000 12,400,000 11,701,397
The following return shows the extent of the imports and ex-
ports of wheat and flour into and from the United Kingdomduring the first forty-six weeks of the season, compared with
the corresponding period in the three previous seasons :
Wheat cwt. 51,309,611Barley 11,978,083Oats 9,431,023Peas 1,882,376Beans 1.722.594Indian com 20,083,103Flour 8,624,614
The following comparative table shows the increase or de-•rease in the export trade of the United Kingdom during themonth of June, and also the six months ending Jane 30,
1882. The figures relating to the first eleven countries includedin the list show the extent of the variation of our export tradewith the Continent of Europe :
ilonlh. 6 Months.Total Board of Trade returns, 1881 18,804,997 109,308,475
De do 1882 20,118,250 113,278,330
Increase In 1882 1,313,253 8,970,053Summary of the Six Monlhi' Increase in British Exports to the 30th
of June, 1882.Tlie whole of Europe jj3 047 010India, Australia, Canada and British Possessions......... .'
2.'496.'iil3UnitedStates 2 195 033The whole outer world !!!!!!!"!!!!!!!!!!!! l'o3l'397
As per Board of Trade returns ~£S.970.055
The following table shows the extent of our foreign trade forthe six months ending June 30, as compared with the corre-•ponding period of last year:
1881.Exports— £
Textile manuf.ictnres .ind yams. 59,1 14,960Minerals and products thereof.. 2^.359,339t arm produce or food 3.328,862Sundry manufactures-leather, oils, paper, books,
s.'uldlcry, stationery, Ao 5.0.17,579Cniemicals
. 2,825,933Uneuumjr.-ited 10,641,800
National Bakes,—The following national banks hare beeaorganized
:
2,757.—The Second Xation.il B.ink of Helena, JIo«. AutUnrl7.ed capital,$100,000. Erastus Douglas Edgerton, President; AlonzoEuos Buuker, Caslitcr.
2,758—The Exchange National Bank of Atchison, Kansas. Author-ized cajiit.al, $100,000. WUiiam Hetherlngton, President ; W.H. Iletlierington. Cashier.
2,759.—The Ran Claire National Bank of Eau Claire, Wis. Author-ized capital, $100,000. Orriu II. Ingr.»m, President ; WilliamR. Coflln, Cashier.
Imports and E.woets fob thb Wbbk.—The imports of last
week, compared with those of the preceding week, showan increase in both dry goods and general merchandise.
The total imports were $11,443,209, against $10,152,471 the pre-
ceding week and $7,570,274 two weeks previous. The exports
for the week ended July 25 amounted to $7,626,589, against
$6,728,132 last week and $8,025,017 two weeks previous. Thefollowing are the imports at New York for the week ending(for dry goods) July 20 and for the week ending (for generalmerchandise) July 21; aho totals since the beginning of first
week in January
:
FOBEIOX IMPORTS AT !I<W TOKK.
For Week. 1879. 1880. 1881. 1882.
Dry goodsGeu'l mer'dise..
.«1,8 14,7074,353,706
$3,053,8 496,514,628
$2,121,4005.275,630
$3,319,7018,093,508
TotalSince Jan. 1.
Dry goodsGen'l mer'dise..
$6,163,413
» 17,9 19,657121,763.103
$9,563,477
$72,020,036212.911.134
$7,397,030
$59,620,760173,874.913
$11,443,209
74,430,391208,971,947
Total 29 weeks $172,685,060 $284,931,220 $238,495,673 t283,402,338
1882.£
60,260,28733.379,1093,855,158
Inerea>:e orDecrease,
+ 1,145.327+ 5,020,160+ 526,596
5,931,749•2,7.33,037
12,118,500
+ 394.170-92,893
+ 1,476,700
To'-al 109,308,475 118,278,530
In our report of the dry goods trade will be found the importsof dry goods for one weeklater.The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for theweek ending July 25, and from January 1 to date
:
BXPUBTS KROK NEW TORE FOR TUB WEEK.
1879. 1880. 1831. 1882.
For the week...Prev. reported..
$6,512,830 $3,633,213172,097,351 216,152,520
$7,163,11020ii.215,712
«7.6-26,539173.303,246
Total 29 weeks M78,610,181 $224,835,733 i213,703,852 {180,934,835
The following table shows the exports and imports of specieat the port of New York for the week ending July 23, and
+8,970,035 since Jan. 1, 1382 :
124 THE CHRONICLE. [Vol. XXXV.
BXPOBT8 kXD IMPOBTS OF 8PB0UI AT MBW TOBK.
OoM.
GrratBiitolnFraDceOeniianyWest ludlcsMexicoBoutli AmericaAll other couutrlea.
.
T*tal 1882..Total 1881.Total 1880..
ailver.
Great BritainFranceGermanyWest IndiesUexicoBoiith AmericaAll other countries.
Export:
Week. IShieeJan.l.
J753,GOO $27,803,2712,526,150
83.1606,088
20.000723.818
«1 ,497,41
8
24,8677,854
931,344.587310.800
2,096,741
$222,000
Total 1882.Total 1881.Total 1880.
$222,009122,20073.227
130,000795,918
95,617,456721,00048,500
57,021
$6,473,9776.188,7252.928.088
Imports.
Week. SitieeJan.l.
972
13,902545
$15,41931,r.801,542
12,65318.0326,3614,8113,779
$45,63621.1487,184
$104,998401232
201.47192,659
217,51816,297
$633,5-'628,330,5481,909,928
$26,2791.027
128.0114820,247371,38976,46821,067
$1,444,4811,696,-2713.09S,206
Of the Above imports for the week in 1882, $1,200 were
American gold coin and $23,179 American silver coin. Of the
exports for the same time, $780,100 were American gold comand $& American silver coin.
Cable Compiiny.—In London, July 22, the prospectna was
issued of the Baropean, American, Canadian & Asiatic Cable
Company. The capital is £1,500.000. The company proposes
to work at a, nine pence per word rate. The prospectus pro-
vides for the establishment of necessary land and water com-annnai re
muDications for connecting pomts in Canada with New York »tatementoi annual re«2')8" 000- rent of
cityonthe„one side and for laying the company's cable f-m|
handJuly. Igl,^^$78^^^^^^^^^^
re^n^^of roa^ds,^
f^^^l^^^feoMeidiscount, $5,100—$1,600; dividends on Addison stock,
$9,084 ; total, $348,990 12. Disbursements—Coupons first mort-
Ncw York, it became necessary to show that the cost of transporting
freight between New York and Chicago was or ought to bo less than the
cost between Philadelphia and Clucaito, or Baltimore and Cni»ago. or at
least that it was not greater. But upon tiiis pi.int, unfortunately, the
inforniiition that was produced before na did not appear to be very pre-
cise or very accurate. The expressions of o'llnion wereiudced clear andstrong, but they wore generally supported ))y argument and inferenceratlicr than Dy evidence. • • »
" We are without reliable information by which to apply the cost prin-
ciple in the regulatiim of charges of transportation V)etwecu theAtlantic cities and the interior, and we cainot say that the application
would be to the advantage of New York. Prima facie the case seems to
be against New York, especially when the Pennsylvania Railroad,
whlcli constitutes one of Its most Important IItics, la taken Into theaccount. • - " It only remains for us to state that no evidence hasbeen oflferod before us that the existing differentials are unjust, or thatthey operate to the priyudlce of either of tlie Atlantic scnport cities.
Difi'ercutial rates have come into existence under the operation of com-petitive forces; they bear some relation to relative distance and relative
cost of service ; they reioguize, as we think, the relative advantages of
the several seaports, and they are subordinate to the great principle
which compels the carriers of property competing between the samepoints and offering e(iual fiieillties to their customers to mai»e the samerates. We therefore cannot advise their being disturbed." But we do not assume that the rates which are just to-day will be
Just indefinitely. They have become estal>lished by tbe force of cir-
cumstances, and they ought to give way If future circumstances shall besuch as to render it right and proper."
Rutland Railroad.—FoUovring is the report of the RutlandRailroad of Vermont, presented at the annual meeting :
" Thefinancial condition of the corporation, as appears bv the books
of the Treasurer, July, 1882, is as follows : Debt—Constructionaccount, $9,025,330 53 ; real estate. $115,925 87 ; Addison Rail-
road stock, $332,800; rent due and unpaid, $11,500 ; cash, $34.-
Statement of annual receipts and payments : Receipts—Cash on
Canada to Europe on the other.
Central Pacific—At the annual election of officers of the
Central Pacific Railroad the following gentlemen were elected
directors : Leland Stanford, C. P. Huntington, Charles Crocker,
C. F. Crocker, W. V. Huntington, E. H. Miller, Jr., and E. W.Hopkins. The officers were re-elected.
Hnmeston & Shenandoah.—This road will be completed andopened for business about Sept. 1, 1882. The road runs fromHumeston, la., to Shenandoah, la., and is being built jointly
by the Burlington and Wabash railroads. It will give the
former an additional line through Iowa to Pacific Junction, andto the latter a more direct line from Chicago to Council Bluffs
than it now has.
Railroad Differential Rates.—The advisory commissionappointed in January last, consisting of Messrs. A. G. Thurman,R B. Washburne and Thomas M. Cooley, have made their
report on the subject of the existing differential rates trom the
west to seaboard[ cities. They conclude that these rates are
virtually a compromise and are established neither on the basis
of distance nor cost, and that for the present they seem to
report of be fair. The following extracts are made from theextended the committee
:
" Three distinct views of the differential rates were taken and urgedbefore us, which may be shortly stated as follows : The New York view,that the differences made in the rates in favor of Baltimore and Phila-delphia were wlioily wrong and should be abrogated; the Baltimoreview, that tlic differentials were right in principle, but if anytliing toomall : the Pliilndclphia view, that the differentials should continue, butthat thej' ought not to tliscriminatc as between Philadelphia and Balti-more. In the interior we encountered much difference In opinion, butno views distinctively peculiar. • « •
" It seemed to be taken for granted in the arguments presented to usthat the existing differentials hud not been determined on any princi
gage bonds. $101,702; coupons five per cent bonds, $77,571 50 ;
rent of Addison Railroad, $15,000; dividend August 15, 1881,
60,000; dividend February 15, 1882, $10,000; scrip, $3,020 89
;
equipment bonds, seven per cent, |1,000 ; interest on bonds andscrip, $3,113 03; salaries and miscellaneous expen.ses, .$7,075 57 ;
During the year past, $40,000 of the first mortgage bonds havebeen stamped down to six per cent, leaving only .$3,000 nowunstamped. Since the last annual meeting two of the board of
directors then elected, Messrs. James H. Williams of Bellows
Falls. Vt., and George W. Gill of Worcester, Mass., have been
removed by death. The vacancies thus made have been filled
by the board by the election of James H. Williams, Jr., of Bel-
lows Falls, Vt., and Henry M. Whitney of Boston, Mass. Adividend of $] per share has been declared upon the preferred
stock, payable September 1, 1882, to stockholders of record
August 15.
—The Union Mutual Life Insurance Company of Portland,
Maine, which is one of the large and prosperous corporations of
New England, have just moved into their new and elegant
offices. The Portland says : "Before the improvements
were made the building stood in the company's assets at
$50,000. Improvements will cost about $55,000 more. Therentable portion of the building will be about $4,300 per annum.Assuming the building to stand at $105,000. it will equal 4 per
cent on the investment, an amount that the law of the State
requires the company to earn on the average of its assets. Sothat on this basis the rent of the company's portion will be
only the expenses of maintaining the building. The Unionpie, hut that they were the result of a compromise between the railroad
jMutual Life Insurance Company was chartered by the Legisla-
' •—'— >--^ •'
' '—ture of the State of Maine July 17. 1848; commenced bu.sines8
October 1, 1849 ; and up to January Ist, 1882, had issued over
seventy-four thousand policies. It has paid to the widows andorphans and beneficiaries under its policies $6,876,901, and has
paid to surviving members under endowment policies andannuities $2,428,089. It has returned to its policy holders in the
of dividends $3,996,441, and for surrender and lapsed
companies, whereby they had purchased peace between themselves.Three different principles, however, wore suggested by different partiesas those which should control, and these found advocates indifferentlocalities according as, it waa thought, those localities would be favoredby their operation respectively. These three principles may bs desig-nated respectively : The distance principle, the cost principle and thecompetive pi iuciple. It Is, however, proper to say that those who advo-cate the flrat and second of these principles generally agreed that thethird should not be discarded, but that it had its legitimate place andmust have its legitimate influence also. Brief notice will be taken ofthese three principles respectively.
'• It was contended by the commercial representatives of Philadelphiaand Baltimore that freight charges on like classes of freights betweentho interior and the seaboard cities ougbt to be proportioned to distance.We understood tlicm to mean by this that the shortest line from Chicagoto each of the Atliintic cities should be taken as tho standard for meas-'%iring the freiglit charges between Chicago and that city, and that thecharges for all the cities should then be determined by the mileage. Byreferring to the accompanying note it will be seen that if the mileagetandard were adopted the freight charges between New York andChicago would bo about 10 per cent greater than those between Phila-delphia and < hicago, and aliout 13 per cent more than those betweenBaltimore and Chicago. Thoi-e between New York and Cincinnatiwould be about 28 per < eut more than between Philadelphia and Cin-cinnati and about :)8 per cent more than between Baltimore and Cincin-nati. Accordli.ir to the average rates on grata and provisions this year,tho differentials have only been about62) per cent In favor of Phihi-delpniaand loper cent in favor of Baltimore; and the distance prin-ciple would, therefore, on an average, increase them greatly. It wasurged that it was by this princlide that tho several roads, constitutinga competing line, are accustomed to upportiou their Joint charges, amitliat these ve y trunk lines adopt it in dividing the charges iipon'throughfreights with the roads fri m wliich they receive the freight or to whichthey deliver it. The New York representatives, on the oiher hand, con-tended that the distance piincipic could not with any Justice control,for the reason that distance docs not measure either the cost or thevalue of the service; so that if ailoiited as the standard of charges itwould be an ai biirary standard, and the element of equity in the rateswould be riistegardcd. • • •
"New York parties who rejected the distance principle were inclinedto favor tbe grading of rates by tlie cost of service; and if this weredone, they claimed that the differentials would disappear altogether.» * • To show that the cost principle would be to the advantage of
way -_ ....policies $5,267,284. The total payments to policy holders havebeen $18,568,716. During the past week agents have broughtin over a quarter of a million dollars of new business with
them, which added to the two millions already issued, made avery handsome half-year's work."
—The Pullman Palace Car Company has declared its 60th
quarterly dividend of 2 per cent on the capital stock,
payable Aug. 15 to shareholders of record Aug. 1 at the
Farmer's Loan & Trust Co.'s office. New York; New EnglandTrust Co.'s office, Boston, and the company's office, Chicago.
Transfer books will close Aug. 1st and reopen Aug. 16th.
—J. & W. Seligman & Co.'s Amsterdam house placed about
$1,000,000 of the consolidated bonds of the St. Louis & SanFrancisco at 97>6. This insures the completion of the road to
Port Smith at once.
—The attention of investors is called to a limited amount of
first-class 7 per cent railroad bonds now advertised in our col-
umns by the well-known house of Gargialo & Co., this city.
Auction Sales.—The following were sold at auction this
week by Messrs. Adrian H. Mnller & Son:
Shares. IBoitdii.
10 Leather Man. Nat. Bank..l6,5is $1,000 Brooklyn City A New-30 U. S. Trust Company 427 town Bailroad Company22 N. J Zinc & n-ou Co 69is first mortgage 78, due15 Real Estate Tiust Co 54 I
16,90 107»iandlnt.
Jolt 29, 1882.J THE (CHRONICLE. 125
DIVIDENDKtTba roUowlaic dirldenils have reoontly been aunonaoed
:
Ifame of Company.
** allroads.Codar Rapids & Mo. Riv. (quar.) .
.
Do I>o pref
.
Ciiin. Iiid. St. L. i Chic. (quar.)..Connecticut <% Pa^s. RiversKan. C. St. L. A Clilo. prof, (quar.)Louisiana &. Mo. River prefMar. HoUKh. & Out. prefN. Y. Prov. & Bos. (SCou.) quar...Rutland prefTerre Haute it [ndiaQapolis
Hanks.Com E.tchangsNew York National ExchangePaolflo (quar.)
Initarauce.BroadwayExchange Fire, '
Importers' & Traders'Westchester Fire
mscollanc <n«.Cal. A Ch. Canal Dock Co. pref. .
.
Iowa R. R. Land (quar.)Pullman's Palace Car (guar.).. . .
.
Percent.
WhenPayable.
$1 50 Aug..$3 50 AufT.1»331^31a42
•¥l
4
53>«2>«
73hs35
3$12
July ISAug. 1
Aug. 1Aug. 1Aug. 15Aug. 10Sept. 1Aug. 1
Aug. 1Aug. 1Aug. 1
Aug. 1Aug. 1
July 20Aug. 1
Aug. 15Aug. 1Aug. 15
Booke Oloted.(Days inclusive.)
July 16 toJuly 16 to
July 26 to Aug. 5Aug. 1 to Aug. 10Aug. 16 to
July 23 to July 31
Aug. 1 to Aug.
Aug. 2 to
NEW YORK. FIllUAY, JULY 3S, ISS'i-S P. M.
The Money Market and Financial Situation.—There wasa shipment of $1,500,000 gold this week on Italian account,but this is looked upon as among the last sliipnients thisseason. There may be, of course, some check to our exporttrade, or some stimulus to imports of foreign merchandisenot now foreseen, but according to the usual course of events,the exports now ought largely to increase and the exports ofspecie should stop. The London Economist looks forward toa renewal of specie shipments from London to this countryduring the autumn as rather probable than otherwise.The stock market remains very strong considering the
large advance which has been made in three weeks, and it
becomes a serious question for customers to consider wlietherit is not iDest for them to realize a handsome profit, where theyhave it, and go in again when and where they see a goodchance. It is not our desire in this report to give any positiveadvice, and indeed it is impossible to do so in a general way,where tlie position of different parties in stocks varies sowidely : but it is not improper to suggest that where a sureprofit of 5, 10, 15 per cent has been made, it is more frequentlysafe to realize than to hold on for the very top ofthe rise. There is no great liarm done if the marketdoes go higher, and the most unreasonable thing a stock-buyercan do when he has a snug 10 per cent stowed away, is to cryover the other 5 per cent which he might have made if he hadheld on. It is freely admitted that this suggestion may not beapplicable to aU stocks ; but take a look at the list and observethe advances which have been made in about three weeks,since the 5th day of July. The rise has unquestionably beenlarge, and there are many parties who liave a very handsomeprofit already to their credit. Such stocks as Lake Shore andMichigan Central have bounced upward just prior to the open-ing of opposition lines, and whether or not those lines can divertmuch business, the opening of tliem is likely to have someefifect. Again, in judging of the dividend capacity of a certainroad, its record sliould be taken for a series of years and notfor a single year, for it is plain that neither 1880-81 or1881-82 would give a fair sample of railroad business,the first of those years being exceptionally good and the lastin some respects exceptionally bad. There is the SouthernPacific new route very soon to be opened from El Paso to Gal-veston and New Orleans, and however liarmonious on rates,there must be competition with the Texas Pacific on throughbusiness ; the same ton of freight cannot count on both roads.The new line of the C. B. & Q. has just been opened to Den-ver, and its effect on other lines has not yet been tested.About 5,500 miles of new road have been laid in the U. S.since Jan. 1, and in the course of time, if the business does notgrow as fast as the roads, it is evident that tlie effect of com-petition will be felt.
The money market lias been easy, but the rate on stocks hassometimes been quoted up to 5 per cent, probably owing to theundesirable collaterals offered. On all Dusiness 2(ffi5 per centfor call loans has been the range, and on prime commercialpaper of two to four months 4 to 5 per cent is quoted.The Bank of England statement on Thursday showed a de-
crease of £321,000 in specie for the week, and the percentageof reserve to liabilities was 39 5-16 against 40 3-16 the previousweek ; the discount rate remains at 3 per cent. The Bank ofFrance gained 8,000,000 francs gold and 1,661,000 francs silver.The following table shows tlio changes from the previous
week and a comparison with the two preceding years:
United States Bonds.—Government securitiee have fluc-tuated from day to day, according to the demand for one olatwof bonds or another, and now tho interest of holders will beconcentrated on the transactions of August. Different fromthe old metliods, tliere is now to be a sort of " trial by PostOffice" to see who can gain precedence in oljtaining 3 i)er centsfirst, in order to have tnem called in last ; here literally " thofirst shall be last and the last first."
The closing prices at the N. Y. Board have been as follows:
68, continued at 3>s..5e, continued at 3>3..4»«8, 1891 reg.ms. 1891 ooup.Is, 1907 reg.4B, 1907 coup.68, eur'cy, lSf>5..reg.6s, cur'cy, 1836.. reg.Ss.our'oy, 1397. .reg.68, our'ey, 1898.. reg.68,oiu''o.T, 1899. .ree.
Interest July JulyPeriods. 22: 247
J. A J. '102'4 •102<. .-Feb. 101^ •lOlikt .-Mar. •114% 114'8 •
C ,-Mar. •114% 1)5( .-Jan. •I20»8 120"liC .-Jan. 120i>g 120 <%.1. 4 J. •131 •130 •
•This Is the price bid at the rauruiug board : no sale was made.
State and Railroad Bonds.—Dealings in State bonds havebeen quite limited and the Tennessees are quoted to-day 57-58.The delay in issuing new bonds for the old has checked trans-actions in these bonds, and after the market is well suppliedwith the new issues we look for more activity.Railroad bonds have been strong and active in the whole
recent movement, and the lower classes of bonds which arecarried on speculative account like stocks have been lively.Erie seconds sold to-day at Q8^i, Wabash generals at86>4'@87J4', Louisville & Nashville generals at 95, M. K. AT. generals at 881-^, and Denver & Rio Grande consols at 102%.Philadelphia & Reading general mortgage bonds sell in Phila-delphia at 96(@963'4, s-tid considering the new money back ofthese bonds and the lien that they have on the whole Philadel-phia & Reading property, both railroad and coal lands, it is aquestion whether there are any of the prominent low-j)ricedijonds in the market which have a better outlook for ultimatesafety. The holders have taken 9 per cent interest on theselx)nds in six months, and this may account for their price teingrather stationary. It is very doubtful whether tlie terms ofthe mortgage permit the company to pay these bonds beforematurity, as Mr. Gowen proposed, and in these days holderswill scarcely be willing to give up at par a six per cent goldmortgage bond due in 1908.
Railroad and Miscellaneous Stocks.-The stock marketduring five of the hottest days on record has lieen well sus-tained. The reactions which have occurred have not amountedto much, and where particular efforts have been made to de-press one stock or another, there has been a stout, and usuallya successful, resistance. The public have been strong purchas-ers, and in the early part of the present buoyancy it was saidthat general buyers took stocks so freely tliat some of thelarger operators were out of stocks in a short time, and after-
wards became bearish in order to get in again. There may besome new combinations arising from tlie sale of the Indian- *
apolis & St. Louis Road, wliich, it is supposed, will go to theCleveland Columbus Cincinnati & Indianapolis. On Tuesday,August 1, the Galveston Houston & Henderson road is
noticed for sale, and it is supposed that Mr. Gouldwill take this and make it the main line for all his roads intoGalveston. Ontario & We.>*tern is strong on the proposed saleof bonds to its stockholders. N. Y. Chic. & St. Louis stocksand bonds have been strong, and at present prices there is avery large profit to original subscribers, who certainly havesome inducement to sell. To-day there was less business, andprices were in some ca-ses lower in consequence of the oppres-sively warm weather.
Foreign Excliange.—The market has been quiet, and thetone not usually strong, although the shipment of $1,.500,000gold took place on Wednesday. There will soon be a con-siderable amount of borrowed commercial bills to te returnedor replaced, and it is proliable tliat they will be replaced byt)ills to be drawn later. To-day the actual rates for primebankers' 60-days sterling were 4 85(34 85i^ and for demand4 88!4@4 883^, with cables 4 89@4 89i^ and prime commercialbills 4 831^4 84. The actual rates for Continental bills are asfollows: Francs, 5 193o(a5 18%: and 5 15; marks, 943^(394%and 953^(3951^; and guilders, 40i^(a40%.
Quotations for foreign exchange are as follows, the highestprices being the post«d rates of leading bankers:
JulySS
Prime hutilfors' sterling bills on London,Prime ci»uimercialDocuiunu tary oojameroialParis (fr mca)im.stordam (g liidcrsi ,
Illinois CentralIndiana Ulooiu'u A West., newKeokuk A Des Molues
Do prel.Lake Erie A WesternLake ahoreLong IslandLouisiana A Missouri BivijrLouisville A NashvilleLoulsviUe New Albany A ChicHanhattaii
Di latprelManhattan Beach CoMarietta A Cinolnnatl.lst pret
Do aa prel.Memphis A CharlestonMetropolitan ElevatedMichigan CentralMilwaukee L. 8h.A West., prelMiuueapulls A St. Louis
Do pre!..Missouri Kansas A TexasMissouri PaclUcMobile A OhioMorris A EasesNashville Chattanooga ASt.L.New York Central A Hudson .
New York chic. A St. Louis...Do pref.
New York ElevatedHew York Lake Erie A West.
Do jpret.
New York NewHavenA Bart.New York Ontario A Western.Norfolk A Western prefNorthern PaciUo
Do prefOhio CentralOhio A Mississippi
Do prefOhio SouthernOregon A Trans-Continental..Panama, Trust Co. certldcalesPeoria DecaturA Evausville..Philadelpliia & UeadiugPittsburg Ft. Wayne A Chic...Rensselaer A SaratogaRich.A Allegli.,st'ck irustotfs.Kichmoud Jt DanvilleRlchuioud A West PointBocUester A PittsburgBorne Watertown A Ogdensb.BU LouisAlUiu A Terre Haute
Do pref.St. Louis A San Francisco
Do pref . .,
Do latprel.Bt. Paul A Duluth
Do pretet Paul Mluneap. A ManitobaTexas A PaciUc-Texas A St. LouisToledo Deiphos A Burlington .
Union Pacltlc"Virginia MidlandWabasli St. Luuis A Pacltlc .
.
Do prefRllHtllSI.I.ANEaUS.
American District TelegraphColorado Coal A IronDelaware A Hudson Canal ...
New York A Texas LaudOregon Uiuiway A Nav. Co...Paclllo MallPnUmau Palace CarWest. V nion Tel., ex-certific's.
EXi>UE!i!9.AdamsAmericanUnited StatesWells. Fargo A Co
COAI, AND !>IININU.OODSoUdatlon CoalHomCHtako MiningLittle Pittsburg MiningMarinOHa Land A MiningMaryland CoalOntario silver MiningPennsylvania CoalQoioksilver Mining
130 Jan. 8 135 Mar. 2184'4Junel0 95%July]760 Jan,67 June 1044 Feb. 2315 Feb. 1827 July 1964=4 June 686 Feb. 2319% Mar. 927% Apr. 1821 Mar. U127% Mar. 11tl27 July 5104% Jan: 4118=4 Apr. 14124 Jan. 4136 Apr. 10125% Apr. 1868 Mar. 829=4 Feb. 2397 % Feb. 2444 Mar. fl
65%Jun6 7133 Jan. 761 June 29
9 =4 June 2885% Feb. 2657^ July2430 July 2137% Jan. 497 % Feb. 2097 % July 2827 July 2240 July 2428% July 25141 July 28138 Jan. 27122% July 23135% July 25138% July 25151 July 25135 Jan. 1384 Feb. 1
52% July 24111 July 2559 July 1592=4 July 24140 July 27104 Feb. 2
77 "July 2560% Fob. 11St3% Jan. 2837 Mar. 3015% Jan. 189 % Jan. 382% Jan. 1892 Feb. M100% July 2763=4 July 233514 July 1872 July 1941% July 28107% July 2535», .ran. 21
44»,9463124.38%144132
112=14418%795015 %
119=4 Mar. 13il26% June 2652%Jnne 5 S7%jan. 14
1360
139% 1.39%•1)4 9674 76123 128
140 14095 93•74 76129 131
19% 19%
12%•49 5117% 17=435% 357,
11=4 11=4•47 4917% 17%35% 357,
2.20017.87019,10077,600
3001.9001,0903,7106,300563100400
8,975183.937
3,1001,050
41.7652,136
48.62382,823
8372,500
34.220310
1,00716,7851,310
142,782
18521533
226
123% May 1
10% May 2527 May 27100 Mav 1533i4Juue 767 Mar. 8168 Feb. 1720% June 944 % Mar. 828=4 Mar. 966=4 Feb. 23ll%June 727 Feb. 2390=4 Mar. 912 June 360 Jan. 30
165 July 2825 June 951 % Mar. 1
1
130 June 27131% July 2016 May 2596 July 7
tl7 May 1522=4 June 820 Jan. 320% Mar. 855 Apr. 2033=4 June 1343 Mar. 879=4 Feb 2128 Feb. 1568 Jan. 19108% Jan. 2634% Mar. »17 May 1710% Feb. 15106% June 1043 Mat. 2223% June 104578June 9
31 Jan. 2338 Mar. 13
102=4 Mar. 13S7 Mar. 17128 Jan. 3137 Apr. 24117 June 576% Mar. 11
4025063
225
1,2601.000
3.50
4,600
1319070125
May 19Feb. 18June 8Feb. 24
136% July 25167jJuly2836% July 28109% Jan. 2743% Jan. 1485 Jan. 14180 May317a July 2858=4 Jan. 1150% July 2390% July 2825% Jan. 1442 July 18110% Mar. 2823% Jan. 1689 July 28
204 May 939=4 July 2667% Jan. 713H May 13140 Jan. 17
Jan.Feb. 7Feb. 15
36% Mar. 2240 July 2543=4 Jan. 1692 Jan. 1646 78 Jan. 23G6''2 Jan. 26106% Jan
"
39 July 1890 July 19144=4 July 1955 July 2331 July 2619 July 21
119=4 Jau. 1662% Mar. 2439 July
"
71% Jau. 14
60 Feb. 145378 Mar. 30118% July 2349% Jan. 10149% July 2748 >4 July 11145 Jan. 1893 % Mar. 28
C.U.A 8t..».—Ist.Ss, P.D.2d, 7 3-10, P. D., 1898..Ist, 7s, $ g.. R. D., 190alet, Lac. Dlv., 1893.Ist, I. A M., 1897....let, I. A D., 1899....let, C.AM., 1903 ...
Consol. 78, 19052d.78, 1 eilet,78,l AD. Ext., 1908S.W. i)lr.,lst, 63, 1909l8t,6B, L«. A Dav.,1919l8t8.Ml'in.Dlv.,6s,1910Ist, H. <!l D..78, 1910 ..
Ch.APe.0.Dlv..(i8, 1910lBtChlo.ftP.W.,58,1921Mln'l Pt. Dlv., 58, 1910C.A L.8up.Div.„58, 1921
Ala. Cent— Inc. 69, 1918.Alleg'y Cent—Inc.. 11I1'2.
Atl. A Pac—Inc.. 1910 ..
Central of N. J.-1908 ...
Col. C. A I.C—Inc. 7s. '90Cent. la.—Coup. deb. clfs.Ch.StP.A M.—L.g.inc. 6sChic A E. 111.—Inc.. 1907DesM.AFt.D.—l8t,inc.,6sDet Mack. A Marq.— Inc.B.T.V.AOa...Inc.,08,193IEl. C.A No.—2d inc. 1970G. BayW.A StP.—2d, inc.Ind.Bl.AWe3t"Jnc,1919Consol Inc., Os. 1921...
GermaniaGiobe..QreenwlctaGuardianHamiltonHanoverHoffmanHomeHowardImporters' & Tr'd'rsIrvini?JeffersonKings County (Bkn.)KnicliorbockerLafayette (Br'kiyn).LamarLenoxLong Island (B'kiyn)LoriHardManufac'rs' & Buiid.ManhattanMech. & Traders'...Mechanics' (B'kiyn).MercantileMerchants'Montauk (Brooklyn)Nassau (Brooklyn)..NationalNew York EquitableNew York FireNew York & BostonNew York CityNiagaraNorth RiTer ,
Bo8ton4 Maine.Boston 4 ProvidenceChesnirepreterredChli. 4 W. MichiganCin. Sandus'ky 4 tilev
ConcordConnecticut River.....
Conn. 4 PasBumpBlcConnotton ValleyEastern (Mass.)Eastern (New Hampshire)...FitchburgFllat4Pere Marq
do pref IFort Scott 4 Gulf, pref
do common.Iowa Fall8 4 Slonx CliyLltt.e Rocli* Fort Smith ...
Maine CentralManchester 4 Lawrence
—
Mar. Hough. 4 0nt ...
Mar. Uoogh, 4 Out., prefNashaa« LowellNew York 4 New England...Northern of N. Hampshire..Norwich 4 Worcester()gden8h.4 L. Champlain ..
Old ColonyPortland Saco 4 PortsmouttiPullman Palace CarRutland, preferredHevere Beach 4 LynnTol. Cin. 4 St. LouisVermont 4 Massachusetts.Worcester A NashuaWiaconMn Central
do prefPHII'ADBIiPHIASTATE AND CITT BONDS
Penna. 58, new, reg., 189^-190'.)
do 48, reg., 1894-1901
48. reg.. '.912
SX", reg., 1912
lis; taxed, reg., 1882 '94
6i, untaxed reg., "se-'gE
48, reg., 'S2 'ao
4», reg.. '91'-99
4s, reg , 190J.19 4 . ,
RAILROAD STOCKS.
+
Allegheny Valley^Buffalo Pitts. 4 Western...
do prefCamden 4 Atlantic
00 do prefCatawlBSa
do prefdo new pref
Delaware 4 Bound Brook
—
East FeuHsylvanlaElmlra 4 Wllllamsportdo do pref..
Har. P. Mt. Joy 4 Lancaster.Huntingdon* Broad Top...
do do pref.
Lehigh Valleydo pref
Little SchuylkillSilnehlll
dodo
Phlla.dodododo
Bid Aik.
lis
10384
lOOH112
181W
il3«16764102H
28X
92m4!5^t
8Stt
84110113.
105lis;107!
86«
117
BEOUBITIKB.
100108H
93«
148'
'69)4
74«
57«lo9
2SH
"8«
681825
101«
'.'12
Nesquehoning ValleyNorfolk 4 Western.com
do do prefNorthern CejtralNorth Pennsylvania ..
PennsylvaniaPhlladelphla4 EriePhlla. Germ. 4 Non Istown .
BaU.4 0hlo 100CO 1st nrefdo 2d prefdo Wash. Branch. lUO
do Farkersb'g Br..50Northern Central..
,50
Western Maryland 50
Central Ohio, common. ...50
PIttsbu g & ConneluvUIe...BAILRoiO BONUS.
Bait. 4 Ohio 6s, 1835,A.40. .
N. W. Va. 3d m.,gaar.,'a5,J4JPIttsb.4 Connellsv.'i8,'98,J&JNorthern Central 68, '85, J4J
do 6s, 1900, A.40.do 6s,gld,l»00, J.4J.
Cen. Ohio 6s, Ist m.,'90.M.4 s.
W. Md.6s.l8tm..gr..'90,J.4J.do let m., 390, J.4 J...do 2dm.,guar., J.4 J—do 2d m.,prefdo 2d m.,gr. by W.C0.J4Jdo 68. 3d m., guar., J.4 J.
Mar. 4 Cin. 7s. '91, F. 4 A ...
do 2d, M.4Ndo Ss,3d,J.4J
Union RR. lat, guar., J. 4 J.,do c nion endorsed.
Wll,4 WeWon. gold. 7bWII.C.4 A g..68Consolidated Gas
do bonds
Bid. At\
103
li'd
iso
118
108107lisM0%
123123
133X120
123121122lOS
103125
121118
12S
ii's
:06«
I2S106
114
0^ 105
ii's"
123123H123112
95i:9M
98«
08Vi
B5«
96SO
107
'm
1089m96M
92« 93
114118 ..::
ii'8
109110108lOd
119
10^
93M
103107 I....
ii7x;ii7«
U1 \'.'.'.'.
130 lias130 13«124^ 126
140
196124«
193124121
i'o'ii
49>j
106>i
I2X49M17)J
12UK104'1/
io'bm109...
liai
127lOOWsax116
i27HlOOJi
56?!
i'l'a
"ii'4.
103
11911042M104
* In detaalt. t Per abaro.
Jolt 29, IfSa] THE (mHONICLE. 119
Rtiilroad Enrnia'^ii.—The latest railro&d esrniaga and thetotals from January 1 to latest date are giyen below. Thetatement inclucl«9 the gross earnings of alt railroads fromwhich retarns nan be obtained. Th*^ ccJlamns under the head-ing "Jan. 1 to latest date" furnish the gross earnings from Jan,1 to, and including, the period mentioned in th>{ second column:
Ohio. Mil & St. P.Chic. & Northw.Ch.8t.P.Min.\0.Chin. &\V. Mich.Clu.Iud.St.L.&O.Cincinnati .SouthClev.Akrou&ColCol. Hock.V.&T.Denv. & Rio GrDcs M. & Ft. D.Del. Lan. & No..Dub. & Sioux C.Eastern
,
E.Tcuu.Va.&GuEurop.&No.AniEvauHV. &. T. II.
Flint & P. iMarqGal.IIar.&.San AGrand Trunk....Great WosteniGr.BayW.&St.P.Hanull)al&.St.Ji)HouB.E.&W.TexIllinois Ceu. (111.)
Do (Iowa)lna.Blooni.& w.Int. & Gt. North.Iowa C'eutral
New York City Banks.—The tollowing sUtement shows thcondition of the Associated Banks of New York City for Mieweek ending at the nommencement of bnsinesB on July 32:
* Included In Central Pacific earnings above,t Northern Division.{ Freight earnings.
U. S. Sab-Treasurr.—The following table shows the receipts»nd payments at the Sab-Treasury in this city, as well as thebalances in the same, tor ed-cii aay of th« past week:
Liabilities.Capital stock $987,265Prof, capital stock 279,900Pike County stock 5,080Funded deljt 1,133,000Agents' ledger 679
Total $2,405,924
The bonded debt consists of $300,000 second mortgage 8 per
cent bonds, $800,000 third mortgage 4 per cent bonds and
^38,000 third mortgage 6 per cent bonds.
Canton Company (Baltimore).
(For the year ending May 31, 1882.)
The annual report says :" The past twelve months has been
an eventful period in the Canton Company's history, the sale
of the Union Railroad by the Canton Company to the North emCentral Railway Company having occurred since our last report.
Your directors deem that a brief recital of connecting causes
and facts will be acceptable.•' The Union Railroad was built by the Canton Company in
18*70-73 for the express purpose of developing Canton property,
giving transportation facilities to its various business enterprises." The wisdom of the project has been fuU^ vindicated by
actual results. In the early history of this road, its maintenancewas an expense, but business gradually increased until finally
it became satisfactorily remunerative." *• * **' Your directors offered to sell them (the North. Central) the
load, and after some negotiations accepted five hundred andninety-four thousand dollars, subject to the existing mort-jfas;e of fifteen hundred thousand dollars and the interest thereon.
*' What is known as the Union Railroad sinking funds, set
down in this report at $689,885, created by the Canton Com-pany to protect its endorsement of said Union Railroad Bonds,•was not included in this sale, but will remain, with its accre-
tions, intact until the maturity and payment of said UnionRailroad bonds by the Northern Central Railway Company asagreed, when it will revert to the Canton Company. In a•written and recorded instrument it was also agreed, and madeBart of the consideration paid for the Union Railroad, that theKorthern Central Railway Company and its assigns shouldhereafter, as set forth in detail, protect and promote the gene-ral business interests of Canton, as well as aid in the continueddevelopment of Canton property."
TREASURER'S REPORT FOR THE YEAR ENDING MAT 31, 1882.
"The values affixed to the following named securities and accountsreceivable are those at which such securities or accounts stand upon the
books of the company and are hero inserted, not for the purpose of fir-
ing the value thereef, but for the purpose of connecting this inventorywith the said books."CashSecurities pledged to secure indebtedness of the company.
(None of these securities came iuro the possession of the re-
ceiver when he assumed charge of the property of thecompany, on Feb. 15, 1877.)300 Central RR. Co. of New Jersey consolidated bonds3,278 Central RR. Co. of New Jersey ten years bonds ^'^Z^'^Si700 shares Central RR. Co. of Now .Icrsej stock ^2'2i24,906 Lehigh & Wilkesbarre consolidatcil bonds *'^®5'„5x30,000 shares American Dock & Improvement Co. stock 3,000,0001 33,535 shares stock Lehigh & Wilkesbane Coal Co. (par
value, $0,1)79,250) 5-7?2'92215,000 shares stock New York & Long Branch KK Co 1,500,000
Warehouse rents.Farm and lot rentsBrickyard rentsWharfagefnterestSaleof sanilWater rent returnedTaxes returnedlusur'ce from loss by AreAasessment returnedBev. Canton Elevator
4,58811,469
2823.170765194
31
13750
10,000
3,5815,9162,055
Repairs to roads and sts.Repairs to wharvesRepairs to housesAdvertising, stationery,&c 1,142
Legal services and sur-veys 1,064
Office expenses, &c 1,395Insurance, taxes and wa-terrent 40,532
Salaries of officers, Ac. . 11,400" Petty »ash acooimf 1,684
$9,965
300,000
$97,8293T. C. R'y Co. to purchaseStockofU. RK $6,000
W. C. R'v Co. U. RK. stock 50.000Sale of nouses 1.975Onion RR. Co. advances. 113.366Temp'y loans n.'turned .
.
60.000
Oranl tota
.?2)1,311
. *LS2,325
$69,672Rebates allowed N. C.Railway Co $21,581
Trustees Canton Co. sjilos 51,975Interest on bonds 94,943U. RR. stock for N. C.R.iilway Co 6,000
U.RK.Co.,forsnndry bills .'i,51.T
Temporary loans 67,400
$247,414Brtl. in liank, May 31. 'S2 ).2:>7
Grand toiii *i!.-;,;j>
2,996 shares Lonswood Valley RR Co8,500 shares High Bridge RK. Co
Securities not pledged—1,620 shares stock Central RR. Co. of New JerseyEllzabethport & ^few Y'ork Ferry stockMuncie Creek RR. bonds (par value, $1,000)New Jersey West Line RR. bonds (par value, $900,000)....Bonds aud mortgages receivableMost of above were pledged amounts due to company
from various persons aiul corporations.Bills receivable ?o'§?nStation bal.anccs ^«?^."?„„Lehigh & Wilkesbarre Coal Co W'^t*??
3,000,000Stock of tlio I^high & Wilkosbarre Coal Co. (par value
iJM!.(i79.2.W : ^•IP-^%^l.">,000 Bliarcs stock New York & Long Brancli RB. Co 1,500,0003,000 sliaros stock Longwood Valley RK. Co 595'°928,500 sharcH stock HIkIi BridKC liR. Co 850,000Securities not pledged to secure mortsaffe loans (part of
tUefoUowiiiKare plcdi^cd to secure time or demand loans)—552 sliaros Central Kll. Co. of New .ler-sey stock 55,200Stock of th>> Elizahetliport & New York I'erry Co 49,2404 bonds Munclc Creek RR. Co. (par value $1,000) ,2'592Bonds and I iiort i,'a},'e8 receivable 53,467Bonds secured by mnrtgaKe on ttie East Providence pier of
tlio LeblRh A Wllkesbarro Coal Co 1.30,000
2,353 I^cblKli & Wilkesbnrre income bonds, series B 2.353,00080 bonds of tlio Crystal Spring Water Company Ji'^^Stock of same 5f!'^?938 bonds of the Tidewater I'ipo Company (limited) ^L'iiSJ50 shares stock of the Uover & Rockaway Railway Co 5,000100 shares stock of tbe Ocean Oil Co 10,000150 bonds of the Lcliich & Jjuzerno Coal Co ^5vS22Stock of the Lebigh Construction Co 2'9^nStock of the Scranton .Steel Conip.any 6,000100 bouds of the I'rcobold & New York RR. Co. ($100,000). 00,000Stock of tlie Old KanKOr Slate Co ,o'„
"Pennsylvania Anthractto Coal Co. purchase 43,910Indebtedness to the receiver of the various persons and
corporations
:
Bills receivable $60,823Station balances 239,(!9lAccounts receivable, railroad balances, &o 663,814New Jersey Stock Yard and Market Company 159,227liOngwood'ValUy Railroad Company 139,584High liridf-'C Railroad Company .• 182,515Lehigh Coal ANavlKation Construction Loan 579,314Dover it Rockawav Railway Company 32.288Manufacturers' Rlt. Co. (exclusive of lands acquired) 43,647Lehigh & Wllkcsbarre Coal Co., steamship account 97,057Deposits with State Treasurer of New York 12,000Union Gai (Join pauy Charter 1,556Jergey City <& Communlpaw Raiiroad stock 4,233North .lersey Iron Company 9,084Packer & Waddel Loan 12.000Pond Creek Coal Company 5,294South Branch Railro.ad Company 3,.5C8
West End Iron Company 14,072Lake Hopatcong Railroad 551Lehigh Coal & Navigation Company, to he added to con-stmotlon loan when fully a(\)usted 10,170
Total $23,207,638
Chicago Saginaw & Canada.—This road is noticed for sale in
foreclosure at Grand Eapids, Mich., on the 2d day of Oct., 1882.
Colnmbas Hocking Valley & Toledo.—A Cleveland special
says: "The announcement frona. Columbus that the StandardIron & Coal Company had succeeded in purchasing control of
the Columbus Hocking Vailey & Toledo Railroad is positively
denied by Judge Burke, Vice-President of the road. He slates
that negotiations for the sale have been in progress for sometime, but that no agreement could be reached, and that theyare now entirely at an end, the sale of the road not havingbeen eflFected."
Connecticut State Bonds.—At Hartford, Conn., July 26,
the bids for $500,000 of the new Connecticut State 20-year 3^?er cent non-taxable bonds were opened at the State-house,
he bonds were taken at a premium, the awards being to bid-ders of 104 to 107"5. The total amount of the bids was$2,577,000, and the average of the awards was 105 "4. Thesuccessful bidders were Hubbard & Farmer, Hartford, .?100,000,
at from 107-2 to 107-5 ; C. T. Hillyer, Hartford, $50,000, at105-12 5-10 ; J. B. Powell, Hartford. $10,000, at 105 ; W. H.Champlin, $3,000, at 104 ; (xeorge William Ballou & Co., NewYork, $337,000, at from 104 to 104-75. A Hartford savingsbank bid for the whole amount at par, and Winslow, Lanier &Co. bid for any part of the total amount at par and 98. Theother unsuccessful bids ranged from 101 to 103-75.
Cincinnati New Orleans & Texas Pacillc.—At a meeting of
the board in Cincinnati last week, Mr. John Scott, Vice-Presi-
dent and General Manager, submitted a statement of theaccounts of the company for six months ending June 30, 1882.
The Cincinnati Co??ime7-ciaZ says: "Attached thereto was anexplanatory note showing that the early promise of the yearwas pot sustained, and that the receipts which opened for themonth of January at an increase of iifty-two per cent suffered
severely afterwards, and in April the increase was only two percent, the cause being attributed to the exceptionally badweather, the short crops of last year and the heavy floods.
Under the unfavorable receipts it became a question whetherthe expenditures should be correspondingly cut down. All
things considered, and bearing in mind the fact that the roadwas not fully completed, it was decided to carry out a systemof liberal though careful expenditure to properly maintain theroad-bed, bridges and tunnels, in order to keep up a high-class
road, which should be fully able to deal with the heavybusiness to be anticipated when the period of depression shouldpass away." The receipts were as follows
Total $1,184, 18aOperating expenses (including taxes) 820.443
Leaving a net halance of $363,74oSurplus brought forward from 1881 65.952
Total $4-.i9,6y2Pud the ti-ustees for lease of the road 406.000
Balance. $23,692
But as $30,000 was ordered put aside as a naclens for a sink-ing fund, there is a debit balance on the operations of the sixmonths of $6,307. On this showing the dividend was passed,and the policy of the General Uanager in maintaining the roadwas approved by the board.The operations of the road from the date of its lease—the
12th of October, 1881, by the present company, to the 30th ofJune, 1882—show the following results :
Receipts, 1881 •813,718Receipts, 1882 1,184,183
$1,797,002Operating expenses, including taxes, 1881 $323,776Opurating expen.sos, Including tuxes, 1882 820,443
$1,144,219
Net $6!53.692Of which there has been paid the tmstees 684,989
$68,692
Denver & New Orleans— Fort Worth & Denrer City.—Bx-Governor John Evans, President of the Denver & New OrleansRailroad Company, on hi.s way from New York to Denver, in-formed a reporter for the Chicago Times that he had just con-cluded an arrangement with Winslow, Lanier & Co., one of theheaviest banking houses in New York, for placing $9,000,000 ofthe company's bonds, which insures the completion of the line
to a junction with its Texas connections at the Canadian River.
Gov. Evans said that the press dispatch from Denver, announc-ing that in its suit against the Atchison Topeka & Santa Fe to
enjoin the latter from discriminating in favor of the Denver &Rio Grande, that Judge Hallethad rendered a decision, was mis-leading. It was only a refusal, he said, to grant an injunction
before hearing testiniony. Judge Hallet has already decidedthat Under the constitution of Colorado the Atchison Topeka &Sante Fe is required to exchange business with the Denver &New Orleans- Raiiroad. The court argued this at length whendismissing the Atchison & Santa Fe's demurrer.—The N. Y. World says :—"The Fort Worth & Denver City
Railway is now completed to Henrietta, Clay County, Tex.,
ninety-six miles from Fort Worth, and opened for traffic fromthat point. Shipments of cattle began on the 18th inst., there
being about 30,000 head of cattle awaiting shipment at Hen-rietta. It is intimated on excellent authority that the negotia-
tions between the Denver & New Orleans Railroad and asyndicate of New Ysrk Bankers have been successfully con-
summated, and that that roai will be completed forthwith to
the Canadian River. In this event the Texas & Colorado
Railway Improvement Company will at once proceed to extend
the Forth Worth & Denver City Railway to the Canadian andreach there in time to meet the Denver & New Orleans, andform a great trunk line from the Rocky Mountains to Gulf tide-
water. On Saturday the stock of the Denver & New Orleans
Construction Company, which a few days before was quoted at
30, advanced to 80."
Fort TVaync! & Jackson.—"The common and preferred stocks
of the Fort Wayne & Jackson Railroad Company are largely
owned in Boston, though ' outside ' securities have been quiteactive of late at $80 per share for the preferred stock ana $15(®$20 per share for the common. This company has no debtwhatever, and its one hundred miles of road from Jackson,
Mich., to Fort Wayne, Ind., is equipped with steel rails. Thepreferred stock is in amount $2,284,900, or $22,849 per mile,
and the common $427,000, or only $4,273 per mile. The status
of the common stock cannot be very clearly defined, as the pre-
ferred is entitled to a preference of 8 per cent, and the roadearns and pays on ' the preferred stock but 2 and 2,'8 per cent
per annum. The first dividend was 2 per cent, paid March 25,
1830, and the last. 2 per cent, in May, 1882 ; but in 1881 2)^
per cent was paid July 1. The speculative interest in the
stock is based largely upon negotiations for the sale of the
road. Vanderbil I offered a guarantee of 5 per cent upon the
preferred stock for a lease to the Lake Shore last year, but
this was declined. It is now said that not only the Lake Shore,
but the Michigan Central and the Grand Trunk desire th» con-
trol of this road for a southern connection,"
—
Boston rran-script.
Fort Wayne Cincinnati & Lonisrille.—"This road (formerly
Fort Wayne Muncie & Cincinnati) is the southern connection of
the Fort Wayne & Jackson. It extends from Fort Wayne, Ind.,
to Connorsville, Ind., 104 miles, and has a branch from New-castle to Rushville of 24 miles. Its total indebtedness is $4,-
000,003 of capital stock, upon which the company is supposed
to have earned about 4 per cent in 1881, though all informa-
tion is refused. The price of the stock is about $35 per share,
and any soeculation upon the sale of the Fort Wayne & Jack-
son must be associated with the Fort Wayne Cincinnati & Louis-
ville."
—
Boston Transcript.
LonisTille Evansrille & St. Louis.-The extension of this
road is completed, and open for local business between Louis-
ville and St. Louis. It was formerly known as the Louisville
New Albany & St. Louis Air Line. Pullman trains will be ran
between those cities the last of August or first of September.
The extension has been about a year in building, and has cost
in the neighborhood of $3,000,000. The Boston parties whocontrol the property believe it will prove a profitable invest-
ment.
Maine Central.—The Maine Central Railroad Company has
leased the New Brunswick & Canada Railroad and the Europeaa
& North American Railroad for ninety-nine years, agreeing to
pay 5 per cent on the bonds of the companies.,
132 THE CHRONICLK \yoL. XXXV.
ManhntUn ElcTated.-Under the agreement of October, 18S1,
the old Manhattan stock was to be exchanged for new Man-
hattan common stock. The Stock Exchange decided that when
a majority of the old stock was thus exchanged, the new stock
should be regularly called. It was announced that this ex-
change had been made and the new Manhatlan common stock
is now placed on the list., ,, ^ ^, . • «• tv.„
-The World says: "It is sUted that the exfension of the
Third and Ninth Avenue lines of the New York tlevated Kail-
road to High Bridge will be built by a construction company,
the lines, when completed, to be turned over to the Manhattan
Company. The money for this work will be advanced by the
directors of the Manhattan Company. Opposition on the part
of the bondholders has caused the directors of the Metropoli-
tan Company to delay action."
Massiichnsetts Central.—In Boston. July 24. at the meeting
of the directors of the Massachusetts Central Railroad the fol-
lowing changes were made in the directory : Moses W. Rich-
ardson, of Boston, in place of Dr. Franklin Bonney, of Hadley;
Klisha S. Converse, of Maiden, in place of William A. Dicken-
son, of Amherst ; Henry Woods, of the firm of C. F. Hovey &Co., in place of Charles A. Cotting. of Wayland. The members
still remaining are J. Edwin Smith, of Worcester; Henry F.
Hills, of Amherst, and Lewis J. Dudley, of Northampton.
At the first meeting of the new board of directors of the
Massachusetts Central Railroad, held on Wednesday, some time
was spent in discu.ising the condition and prospects of the
road, but no definite action was taken. Anothsr meeting will
be held in a few days, and the directors hope to make arrange-
ments by which they will be enabled to operate the railroad
themselves.
Mexican Central.-A telegram from Mexico reports that the
Mexican Central Railway was opened to the city of Leon, a du-tance of 262 miles northward from the City of Mexico. The traffic
is said to be in excess of the estimates, and the rolling stock on
hand is inadequate to the demands for transportation.
New York City & Northern.—The holders of the consoli-
dated mortgage bonds held a meeting July 10, and Mr. HenryVillard was elected chairman. Resolutions were adoptedHnder which Messrs. Henry Villard, William Mortens, Charles.
Knoblauch. A. Marcus and Elijah Smith were appointt-d a com-mittee to represent these bondholders in protecting their rights
under the mortgage by foreclosure proceedings or otherwise.
Within ten days after a decree of foreclosure is rendered, this
committee Is to call a meeting of those bondholders who havedeposited their bonds in the Farmers' Loan & Trust Company,and hold certificates therefor, and a reorganization committeeis then to be appointed and a plan of reorganization adopted.
New York Ontario & Western.—Notice is given that theboard of directors, having resolved to dispose of the WestShore Railway Company's bonds owned by this company, offer
the right to subscribe for the same on special ter-rs to the stock-holders of this company. Printed circulars, giving full infor-
mation, may be obtained on and after August 5, 1882. For thepurpose of this subscription the transfer books of the companywill be closed on Saturday. August 5, 1882, at 3 p. m., and re-
open on the morning of Taesday, August 15, 1882. Stockhold-ers of record at the date of the closing of the books as above,or those holding a-ssignn ents of the rights to subscribe pertain-ing to the stock, maysubsciibe under said circular from August7 to 14, 1882, inclusive.—^The terms of subscription are not published, but the Even-ing Post of July 27 said :
" It is reported that the privilege tobe given to the Ontario & Western stockholders will be in sub-stance to allow each holder of sixty shares to subscribe and takeone bond for $1,000, issued by the New York West Shore &Buffalo Railway Company, and being part of the entire issueof bonds covering railroad franchise and its equipmeiit fromNew Y'ork to Buffalo. The Ontario & Western Company is
owner of $10,000,000 of these bonds, and it will offer to its stock-holders of both classes the right to take these bonds upon pay-ment of $500 in monthly instalments. Certificates registeredby United States Trust Company are said to form a part of theplan, each for the sum of $1.00(5, and when all the instalmentsare called and paid.the bonds, which meantime are lodged withthe Trust Company, will be delivered. This plan is piacticallya distribution to the stockholders of the Ontario & WesternCompany of a portion of the assets of the company which arenot required, or likely to be requiriid, for the purpose of con-struction."
Norfolk & Western.—The following is a statement of earn-ings and expenses for June and for six months:
State's interest in this stock. Some years ago the United'
States Court appointed S. F. Phillips, of Washington, receiver
of the Stale's stock for the protection of the State railroad
construction bondholders. The North Carolina Railroad Com-pany became dividend-payisg seven or eight years ago. It
was leased in 1875 to the Richmond & Danville Railroad Com-pany for thirty years, at a rental which yields about 6 per cent
on the sto^.k of the lessor company. Mr. Phillips has beenapplying the dividends paid on the State's stock to the paymentof the past-due interest on the State North Carolina Railroad
Construction bonds. Few overdue coupons on these bonds nowremain to be paid. The first series of these bonds becomes duenext year, and the State is desirous of extending them. Theplan of refunding open to all bondholders, and accepted by the
majority of them, is as follows : Holders of the North Carolina
Railroad Construction bonds to surrender their present bonds,
with tne unpaid past-due coupons from July 1, 1878, to the
State, and receive therefor new S'ate bonds to the extent only
of the principal of their old holdings. The new bonds are to
run thirty years at 6 per cent interest, payable semi-annually
in April and October, and the coupons are receivable for taxes.
It is provided that the present bondholders shall not, by this
exchange, prejudice their lien on the State's stock of the NorthCarolina Railroad Company.Bonds to be refunded may be forwarded by express to D. W.
Bain, Secretary of the State Commission, at Raleigh. N. C.
Ohio Central.—Application will soon be made to list the
bonds of the River Division of the Ohio Central. The division
is expected to be completed by Sept. 1. The road connects with
main stem at Corning, Ohio, and with the Chesapeake & Ohio
at Charleston, W. Va., 150 miles. The road is being built at the
rate of $20,000 per mile.
Ontario Southern.—The New York Supreme Court hasgranted a decree of foreclosure of mortgage against this com-pany, and an order of sale to satisfy the decree. The amountof the bonds outstanding is $1,000,000, and of interest founddue, $429,093. The decree applies to all the property covered
by the mortgage,—that is to the completed road from SodusPoint, N. Y., to Stanley, 34 miles, but does not cover certain
right of way and unfinished road acquired by consolidation
with the Geneva Hornellsville & Pine Creek Company someyears ago.
—
B. R. Gazette.
Pennsylvania Kallro.id.—The gro.ss and net earnings in
June, and from January 1 to July 1 in 1881 and 1882,
are specially compiled for the Cheonicle in the table below.
In June, 1882, there was an increase of $286,319 in gross
earnings and an increase of $45,790 in net earnings. For the
six months there was an increase in 1882 of $1,097,010 in gross,
Not earnings...-. $72,852 $61,371 $101,460 $435,972
* Expenses Include estimated proportion of yearly taxes.
North Carolina State Railroad Bonds.—CommissionersGeorge Davis. Montford JIcGehee and Donald W. Bain aremaking preparations to refund the bonds issued by the State inaid of the ocnstrnction of the North Carolina Railroad. Theyamount to about $2,800,000, are dated from 1853 to 1855, wereto run twenty years, and bear 6 per cent interest. The railroadCompany ha.'» a capital stock of $4,000,000 and a funded debt ofless than $300,000. The State of North Carolina holds $3,000.-000 stock as security for its loan to the railroad By its charterthe railroad company can place no mortgage lien ahead of the
—The board of directors of the Pennsylvania Railroad Com-pany held a special meeting July 25 to consider the question
of the sale of the Indianapolis & St Louis Railroad Companyunder an order of the receiver, which was noticed for Friday.
The press dispatch says the Penn.sylvauia Road has not hadany necessity for the Indianapolis & St. Louis route since it
has operated the Vandalia line—a considerably shorter roadbetween Indianapolis & St. Louis—and it has been deemed de-
sirable to dispose of the company's interest in the super-
fluous liue between those points. A contract has been madedisposing of the stock owned by the Pennsylvania to the C. C.
C. & I. Company, and this "contract was approved ^y theboard.—The Pennsylvania Railroad Company gives notice that the
certificates for new stock, under resolution of the board of
managers of May 1, 1882, are now ready for delivery on return
of the receipts given for same.
Philadelphia & Reading.—The gross receipts from therailroads, canals, steam colliers and coal barges in Junewere $1,714,730 and the net receipts $773,396; for the fiscal yearsince Nov. 30. 1881. the gross receipts were .r; 1,",S2,3S4 and thenet receipts $4,685,549. The gross receipts of the Philadelphia& Reading Coal & Iron Co. in June were $1,303,253 and net
$70,778; since Nov. 30 gross receipts, $7,653,178; net. $326,064.
'rhe total receipts of both companies together for each monthof the fiscal year have been as follows :
July 39, 1882.
J
THE CHKONK^LE. 13bU
December $2.237,0 15January 2,153,378February 2,M0,0,i3Marcli 2,:.2r.,I08
The coal tonnage has been as follows, viz.: Carried on therailroad in Jane, 712,200 tons, aj^atost 690,613 tons m June,1881; and for seven months, 4,314,730 tons in 1881-82, against3,539,769 tons in 1880-81. The total mined by the Coal & IronCo. and by tenants was 473,053 tons in June, against 471,672 tonsin June, 1881; and for the seven months, 2,810,511 tons, against3,634,397 tons in 1880-81.
Pittsbnrg Cincinnati & St. Louis.—A dispatch from Colum-bus, O., July 26, says :
" Robert Garrett & Sons, of Baltimore,Md., to-day filed in the United States Court a bill in chanceryagainst the Stenbenville & Indiana Railroad Company andothers, asking that the liens on the road be marshalled andsold. The plaintiffs claim the first lien, which, including inter-est, amoanto to over $200,000, which is the balance due them ona former decree. The road is now part of the Pittsburg Cin-cinnati & St. Louis Railroad."
Placervllle & Sacramento Valley.—The court has orderedthe receiver to turn over this road to Louis McLane, trustee
;
also that the sum of $20,156 due the receiver be adjudged alienupon the road, and that the company be required to pay thesame, and in default thereof the road be sold to pay said lien
and the $26,000 bonds outstanding under the mortgage of 1864.The road extends from Sacramento, Cal., to Shingle Springs, 48miles, and is not at present operated.
Railroad Constrnctiou (New).—The latest information ofthe completion of tracfe on new railroads is as follows:
BufTHlo Pittebur/i <fe Western.—On tlie Buffalo extension track is laidfrom Dunkirk, N. Y., uurtheast 4 mllss, aud from Bay View southwest7 miles.Burlington Ce<lar Rapids & Northern.—The X'acifio Division is ex-
tended northwest to Spirit Lake, la., 29^ miles.CatsklU .Mountain —Coniplet»d from Catskill Landing, N. Y., west-
ward to Lawi onceville. 12 miles- Guage, 3 feet.Conuottou Valley.—Track on the Straitsville Extension is laid from
Canton, O., southwest to Navarre. 13 miles. Gaupo. 3 feet.Genesee Valley.— Extended to Uelfaat, N. Y., northward 10 miles.Old Colony.—The Whittenton Branch i» extended from Whittenton
Mills, Mass., to the main line in Kayuham, 2^ miles.Oregon & California.—Extended from Koseburg, Or., southward 18
miles.Oregonian.—Extended from Brownsville, Or., south to Coburg, 20
miles. Gauge, 3 feet.Pittsburg Bradford & Buffalo.-Extended from MarienviUe, Pa., to
Frost's Mills, 4 miles. Gauge, 3 feet.Rochester & Pittsburg.—Extended from Tarport, P»., south to Brad-
ford, 2 miles.8t. Louis Iron Mountain & Southern.-Extended from Harrieburg,
Ark., southward to Forest City, 37 miles.Trinity & Sabine.—Track laid from Trinity, Tex., eastward 38 miles.Union Pacille.—The (:lunuison Branch of the Denver &, South Park
Division Is extended from Woodstock, Col., to Pitkin, 7 miles. Gauge,3 feet.This is a totivl of 204 miles of new railroad, making 5,304 mi'es thus
far this year, against 2.615 miles reported at the corresponding timein 1881, 2.424 miles in 1880, 1,122 miles in 1879, 900 miles in 1878,751 miles In 1877, 1,010 miles in 1876. 533 miles in 1873, 839 miles In1874 aud 1,872 miles in 1873 anrt 3,237 miles in 1872.—iJoi/roud Oazeltt.
St. Louis Iron Mountain & Southern.—A dispatch fromLittle Rock, Ark., reports the Crowley's Ridge branch of theIron Mountain Railroad completed to Forest City. This branchruns from Knobel, on the main line of the Iron Mountain Road,to Forest City, a distance of 97 miles.
St. Louis & '*An Francisco.-The following is a comparativestatement of the St. Louis & San Francisco Railroad Companyfor the first half of 1882 :
1882. 1881.Mileage 661 .'i97
Gross earnings $1,495,989 $1,463,913Estimated expenses 747,995 636,233Netearniugs 747,994 827,980Fixedcharges 537,835 475,051Applicable for dividends 210,1,59 352,629Per cent on first preferred stock 46 78The earnings for the first half of 1882 were unfavorably
affected by short crops, while net earnings were decreased bylarge expenditures for betterrnents. The increase in fixedcharges resulted partly from the establishment of new sinkingfunds. The earnings have begun to improve on the handlingof new crops. The road is moving from fifty to one hundredcar-loads of wheat per day. The Arkansas division will beopened to Fort Smith in about sixty days, securing a consider-able increase in local and through business. The extension ofthe main line from Pacific, Mo., to St. Louis will soon be com-pleted, enabling the company to do business over its own line
toSt. Louis and saving an annual rental exceeding $250,000.
Western & Atlantic (Ka.).—The Atlanta Constitution saysthat Attorney-General Anderson and Capt. Jackson, his a&so-ciate by special employm-nt of the Governor, have preparedthe document which will take the matter of the validity of thisState road Wase into the courts. The proceeding is an infor-mation in the nature of a quo warranto, and will be filed in theSuperior Court within the next few days. It calls on theWestern & Atlantic Railroad Company to appear and showcause why the lease should not be broken. After the paper is
presented to the Superior Court, the Judge wiU fix a time forits hearing, not less than ten nor more than thirty days fromthe filing. If there is an issue as. to the facts set forth in thepaper a jury will be drawn and the case will be tried.
COMMERCIAL EPITOME.Friday Niout, July 28, 1882.
The weather has been excessively warm the past week, modsome complaints of drought began to be heard in various see-
tions, claiming injury to the growing crops ; yet no serious
damage has been done and the latest telegrams report satisfac-
tory rains. Business is very good for this stage of the season,
or rather " between seasons," when business men usually leare
the city. The labor troubles seem at length in process of ad-justment, and generally on terms adverse to claims of the" strikers." Circumstances point to a prosperous autumn trade.
The speculation in provisions has been less liberal, and arealizing movement at the close brouo^ht about some depres-
sion. Old mess pork quoted on the spot at $21 and new at f22August options were weak at $21 ; September, $21 10@|21 30.
Lard was depressed to 12'55@12'60c. for prime Westernon the spot ; refined to the Continent was quoted at 12'70c.;
August options closed lower at 12'37}^c.; September 12'55c.;
$21. Cut meats were steady and quiet. Tallow sold at 8^(9 '
854c. for prime. Stearine quoted at 12%.@13)ia. Butter wasweak at the close to-day and cheese was quite irregular, partly
owing to the advanced rates for ocean freight-room.
Rio coffee has advanced to 9Mc. for fair, on a better
demand ; mild grades hav« been firm, and the sales of Mara-caibo have been quite large. Tea has been scarcely so firm,
with less demand. Foreign fruits have been fairly active, at
easier prices. Spices have been quiet, but about stea dy.
Molasses has sold very slowly, at last week's prices. Raw-
sugar has been more active and steadier at T^A@l%e. for
fair to good refining, and 8^c. for 96 degrees test centrifu-
gal. It now seems that the duty cannot be reduced at
this session of Congress, and as their trade has improved,
refiners have a further reason for purchasing, especially
as it is generally understood that they have allowed their stocks
to run pretty low |: ending the settlement of this question.Refined has been in better demand latterly, and the depressionof the fore part of the week has consequently been succeededby considerable firmness, especially as the supply has becomesomewhat reduced ; crushed, powdered, cubes and cut loaf
closed at 9%c., granulated at 9^c. and standard soft white"A" at 9>^c.Kentucky tobacco remains quiet, and sales for the week are
only 300 hhds., of which 200 for export and 100 for home con-sumption. Prices are about steadv on the basis of the late
reduction, although accounts from the growing crops continueto be of the most favorable character ; lugs, 6^®7/6c.; leaf,
7?4@12>6c. Seed leaf in but moderate demand ; sales for theweek 950 cases, as follows : 150 cases 1880 crop New Kngland,8@45c,; 150 cases 1881 crop New England, 5%@12c.; 200 cases1880 crop Pennsylvania, 6@12c.; 150 cases 1880 crop Ohio, 6@9c.; 125 cases 1881 crop Ohio, 5^@6c.; and 125 cases sundries,
6@15c. Also 400 bales Havana. 88c.@$l 20.
Naval stores have been declining. The Southern marketssJiow a depression and the export movement is light. Spirits
turpentine sold in yard here to-day at 45c , and good strained
rosm delivered at $2 05. with the yard prices $1 85@?1 90 forcommon, and $1 95@$2 for good strained. Window-glass rosin
sold down to $3 50. Reflnea petroleum was about steady at7c. for export; crude certificates, after quite a serious break,
recovered to-day from 57>6@61c., closing at 61%@6lMc.;August options quoted 62c., September 64 ;4c, October 66)^o.
Ingot copper was about steady, 200.000 lbs. Lake sold at 18}^(§18^c. All other metals, while rsmaining firm, continued qixiet.
Hops have been very buoyant, mainly owing to the very poorcrop reports from Kngland ; the stocks here are very light,
and brewers have paid in a small way 52@53c., yet exportersrefuse to bid over 50 cents ; several lar^e transactions have beenreported in the interior at 50 cents, said to be to speculators.
Wool has had a better sale ; dealers are asking higher prices.
A good business has been done in ocean freight room, themain patronage coming from the grain trade. Oil vessels are
rather scarce and held at high rates. Grain, to Liverpool, bysteam to-day, 6d.; cotton, 3-32^11-64d. compressed ; flour, 178.
6d @20s.; bacon and lard, 20@25s.; cheese, 30@35s.; beef, 48.;
pork, 3s.; grain to London, by steam, 8Md ; flour, 25s.; baconand lard, 30s.; cheese, 40@46s.; grain to Glasgow, by steam,
7M@8d.; do. to Leith, by steam, 854d.; do. to Antwerp, bvsteam, quoted 9)^d.; grain to Lisbon, bv sail, 15^c. per bushel;
do. to Cork for orders, 6s. 9d@6s. W^i. per qr.; do. to Mar-seilles, 6s. 6d.; do. to Continent (August), 5s. 3d.; refined
peiroleum to London, 3s. 6d.; do. to Trieste, 3s. 10)6d.; do. to
Cork for orders, 43.; do. from Philadelphia to the Continent, 38.
6d.@3d. 9d.@4«.; cases do. from New York to Singapore, 33c.
134 THE CHRONKJLE. [Vol. XXXV.
COTTON..Feidat, p. M., July 28, 188a.
The Mo'vbmkht of th« Ceop, as indlcnted by our telegrams
from the &mth to-night, is given below. For the week ending
this evening {3a\y 23), the total receipts have reached 6,126
bales, against 9,150 bales last week, 8,142 bales the previous
week and 9,586 bales three weeks since: making the total
feoeiptw sinoe the 1st of September. 1881. 4,654.991 bales, against
6 757 55S baies for the same period of 1880-81, showing a decrease
Bince September 1. 1881, of 1,102,567 bales.
Seeeiplsat— Sat.
Qalveston 6
Indlanola, &C.
Hew Orleans... 69
Mobile 36
Florida
Barannah 50
Brunaw'k, 4c.
Charleston 25
Pt. Royal, <fec.
Wilmington.... 2
Uoreh'd C.,<bc
Korfolk 221
CityPolnt,<feo.
Hew YorkBoston 429
Baltimore .-..
Philadelp'a, Ac. ....
Totals thisweek 838
Hon.
31
12513
58
236
34078
892
TiJM.
28
23512
48
39
11
341
183695
1,620
Wed.
SO
45
86
253
Thurs.
10
45174
103
14152
Fri.
3620124
4
11
652469
437
91874
Total.
4981 5331 1,710
16420
675239
220
1492
20
996437
r 6691,507
91874
In addition to above exports, our telegrams to-night also giveus the following amounts of cotton on shipboard, not cleared, atthe porta named. We add similar figures for New York, whichare prepared for our special use by Messrs. Carey, Yale &Lambert. 60 Beaver Street.
6,126
On Shipboard, not cleared—forLeatinoSlock.Jolt 25, at— Oreat
The speculation in cotton for future delivery at this markethas been moderately active the past week. On Saturday the
danger that the troubles in Egypt were to be prolonged for anindefinite period and the reports of excessive rains in the
Mississippi Valley gave an advance to prices, which was Icat
on Monday, under improved crop advices and dull accounts
from Liverpool. But on Tuesday there was a fresh advance,
which was continued on Wednesday morning, on the very
favorable accounts from Liverpool ; but the early advance onWednesday was lost in the afternoon, under reports fromEgypt that Arabi Pacha was willing to make terms for a sur-
render. Yesterday there was a slight upward movement at
the close, the comparatively free notices for delivery onAugust contracts having been pretty generally stopped. To-
day the market was variable and the close irregular, with an
unsettled feeling. Cotton on the spot was active for export
on Tuesday, but has generally been quiet throughout the
week. The concentration of stocks in the United States at
tlus point draws to us what Uttle spinning demand there is.
Yesterday spots were again active for export to Great Britain,
and quotations advanced l-16c. To-day there was a, brisk
speculation, with a further advance of l-16c., middling
uplands closing at 12^ c.
The total sales for forward delivery for the week are 393,700
bales. For immediate delivery the total sales foot up this week12,013 bales, including 8,113 for export, 2,900 for consumption,
1,000 for speculation and in transit. Of the above,— bales
were to arrive. The following are the official quotations andsales for ?ach day of the past week.
Galveetan inoludea Indlanola: Charleston includes Port Royal, A-.Wmntagronlucludes Morehead City. Ac: Norfolk Includes City Point.Ac.
The exports for the week ending this evening reach a total<* 16,232 bales, of which 10,866 were to Great BriUin, 502 toFrance and 3,864 to rest of the Continent, while the stocks asmade up this evening are now 199,311 bales. Below are the•iports for the week and since September I, 1881.
The daily deliveries fflven above are actually delivered the day pre-vious to that on wliioh they are renorted.
Thb Sales and Prices of Futures are shown by the follow-
ing comprehensive table. In this statement will be found thedaily market, the prices of sales for each month each day, andthe closing bids, in addition to the daily and total sales.
•Includes saies m aepwuiDer. l»«l. tor September. 311.U00; geptem-bor October for October. 416,400; September-November for November,511,290; September December for December, 1,479,100; September,Janmry for January, 4,232,500; September- Febru.iry for February,2,230,100; Septembcr-MarcU for March. 4,411,100: September-Aprtl-for April, 3,533,800; September-May, for May, 3.295,800; SeptemberJune, for June, 2,779,700 ; also salea for Juu^ 1883, 200.A Ineliides for June, 1883, 400 at 12 51.B Includes for June, 1883, 100 at 12-51.Transferable Orders—Saturday, 12'75c.; Monday, 12-700. ; Tuesday,
The foUowintr exchanges have been made dmrtog the week;•23 pd. to exch. 200 Sept. for Aujr. < 19 pd. to exch. 100 Sept. for Aug.-20 pd. to exch. 1,300 Sept. for Aug. I
-17 pd. to exch. 300 Sept. for Aug.ItO July for Aug. even. |
-17 pd. to exch. 800 Sept. for Aug.-79 pd. to exch. 1,000 Oct. for Aug. I -18 pd. to exch. 200 Sept. for Aug.-21 pd. to exch. 300 Sept. for Aug. |
-03 pd. to exch. .^OO Aug. for July,
Tub VisiBLB Siipplt op Cotton, a» made np bj cable andtelegraph, is as follows. The Continental stocks are the flgnree
«{ last Saturday, bat the totals for 3reat Britain and the afloat
for the Continent are this week's returns, and consequentlybrought down to Thursday evening; hfnce, to make the totals thecomplete figures for to-night (July 23), wt? add the item of exportsfrom the United States, iucludiug in it the exports of Friday only.
1UH2.Btookat Liverpool bales. 736,000etook at LoQdon 72,!t00
Tnlal Great Britain Itock .
Stock at fTavreStock at MarsellleaStock at JtarceloDft....Stook at numnurgStock at HremenStock at Amsterdam...Stook at RotterdamStook at AntwerpStook at other contl'ntal ports.
1881.730.00043,300
823,300199,000
3,70040.9005,440
3li,00042,0004.0003,330
11,200
1B80.745,000S8.300
803,3007 1 ,3007,830
59,1002,000
30,60017,1002.7101,320
24,800
1879,528.00043,060
S71,6io107,Cd0
2.00027,1004,000
21.30032,100
SOO100
6,500
Total oontlnental ports.... 227,800 340,230 226,666 200,600
Total European stocks.. ..1,036,300 1,169,530 1,020,960tndla cotton afloat for EuropeAmer'n cotton afloat for Eur poEgypt,Bra7,U,&c.,ant forE'r'peStook In United States ports ..
Stook in U. 8. Interior ports..
.
United Stetes exports lo-day..
Total visible supply 1.666,755 1,910.415 1,584,309 1,281,724Of the above, the totals of American and other descriptions are as (oUows-American—
Liverpool stock 426,000
322,00062,00021,000
109,31123.0143,100
280.000169,00017,000
237.75040.9266,200
19S.0O0104.00017,000
197,77749,6311,000
771,660820,00045,0008,000
123.09913,9661,000
Continental stocks 60,000American atloat for Europe. . .. 62,000Dnited States stock 199.311United States latorior stocks.. 23.044United States exports to-day.. 3,100
Total American 793.455 1.325,885 977,108 720,06i
597.000255,000lliO.OOO237,75940,9266,200
505,000120,000101,000197.77749,0311,000
337,000151,00045,000122,09813,9681,000
Sast Indian, Brazil, ite.-
Liverpool stock 310,000London stock 72,500Continental stocks 147.800India alloat for Europe 322,000Egypt, Brazil, &c,, alloat 21,000
193,00043.30091,2)0
280.00017,000
240,00058.300100.6601 85.00017.000
141,00043.06040,600
320,0008,000
Total East India, Ac 873,300 614.530 006.960 501.660Total Amerloan 793,455 1,323,885 977.408 720,064
t^The imports into Continental ports this week hare been49,000 bales.
The above figures indicate a decrease in the cotton in sightto-night of 273,660 bales as compared with the same date of 1881,an increase of 83,407 bales as compared with the corres-ponding date of 1880 and an iricrease of 355,031 bales as com-pared with 1879.
At thb Intbrior Towss the movement—^that is the receiptsfor the week and since Sept. 1, the shipments for vhe week, andthe stocks to-night, and the same items for the correspondingperiod of 1880-81—is set out in detail in the following statement:
E E i|"^ - £l — (9 O ^ SB
2SG«<'i»-OnQ<£!-DZgOBi:SO».
gc-'^.SSw- S T o C3 H -•^2 eg
COCjIt^- • •
WtOO — 13- M*-Wr-.
COCO ra tou ta 01 1-*
aorfk.o»_oc3pa«
o -'I #- :d ^1 woh- CD o w cr tci to
UU MM CO t-iMQD-^]wac»ocji^tccoai>-*(3c;fU-^icoc)OOiQO^toco ro enM^ M o: f^^^Oi 5i cc c. o to •-
fcjrfk. M CO** tOMo<ow»(k.-j *-• icto o'coG?a'*awM
10
CJi 3 03 <4 CO CO COCCOQOOMCIO
eo CO to toM ^1 toWUICOO'-JOiOM',DCOWlo%bsCO -J --J — 01 If* '-'
(Si. C It- If- -1 ^ 0>
W JtO
*» OOOOCn*-I-l<IOOS M*>---lCCiO«0
OW»-"-'tO toco »-»'v)0»t-» M McolOOO•oorc;ltoost^^lO•-«-»o^^U|^.^oo;(»QCMO f»» CO Oa 1^ Oi •^ O* lb* if> CO CD <- QOO O)
coco f-M M *. ^ ^tOtccDU»O^^W«»^^cooDW**aDCluo^3;•-o'-'COMajOOO''---ic«:i— w :;t •j>in_CD-i wc-^biOMtooVtocs'^i'obt—^l'^^CD^DCl%-Mccr-3:cD^o^occtotCtt-•v^co«ooccl^:Dwrf». *».M a. 00 U> 00 >— OlO O" CO *4 O "- 06 •«* CO to
" These are only the net receipts at Louisville. The total grott reoeiptsthere since Septomlicr 1, 1881, have been about 3'.>3,000 bales, againstabout 205,000 bales for same lime last year.
t This year's tlgures estimated.
The above totals show that the old interior stocks have de-creased during the week 3,263 bale.;, and are to-night 29,449bales less than at the same period last year. The reoeipts atthe same towns have been 4,123 bales less than the same weeklast year, and since Sept. 1 the receipts at all the towns ar«589,160 bales less than for the same time in 1880-81.
Rbckipts from thb Plantatiohs.—The following table ia
prepared for the purpose of indicating the actual movement each
13(> THE CHRONICLE. [Vol. XXXV.
week from the plantations. Receipts at the oatporta are some-times misleading, as they are made up more largely one yearthan another at the expense of the interior stocks. We reachtherefore, a safer conclusion through a comparative statementlike the following. In reply to frequent inquiries we will addthat these figures, of course, do not include overland receipts orflouthern consumption; they are simply a statement of theweekly movement from the plantations of that part of the cropvhich finally reaches the market through the out-ports.
BEOEtPTB FROM PUINTATIONS.
Wetk lUcHpt^ at t}u Porta. St*k atlnterior Tmona. Bec'j>t«/rom Plant'ru.
mUmo--1880. 1881. 1882. 1880. 1881. 1882. 1880.
12,183
ISSl. 18S2.
M»y Vi 24.ese 49,150 25,881 189.783 194.662 127,630 28.559 10,184
The above statement shows—1. That the total receipts from theplantations since Sept. 1, in 1881-82 were 4,637,842 bales; in
1880-81 were 5,776.997 bales; in 1879-80 were 4,928,409 bales.
2. That, although the receipts at the out-ports tie past weekwere 6.126 bales, the actual movement from plantations wasonly 2,780 bales, the balance being taken from the stocks atthe interior towns. Last year the receipts from the planta-tions for the same week were 8,672 bales and for 1880 theywere 3,682 bales.
Amodht of Cotton in sianr Jclt 28.—In the table belowwe give the receipts from plantations in another form, andadd to them the net overland movement to July 1, andalso the taking't by Southern spiuners to the same date, ao as togive substantially the amount of cotton now in sight. We shallcontinue this statement hereafter, bringing it down to the closeof each week.
Receipts at the ports to July 28 bales.Interior stocks in excess of Sept. 1 on July 2d.
Total receipts from plantationsNet overland to Jul.y 1Boutbern consumption to July 1
Total in sight July 23.
1881-82.
4,654,991•17,149
4,637,S42464,3.38229,000
5,331,178
1880-81.
3,7.57,55819.439
5,776.997309,799195,000
6,481,796* Decrease floiu Septeiuoer 1
.
It will be seen by the above that the decrease in amount in sightto-night, as compared with last year, is 1,150,618 bales.
Weather Reports by Telegraph.—The weather the pastweek has been generally favorable for crop development, butin Alabama and portions of Georgia there are some complaintsof too much rain.
Qalveston, Texas.—We have had shovrers on four days of
the past week, the rainfall reaching sixty-three hundredths ofan inch. Nearly every section of the State has had enoughrain and no more is wanted for the present. Crops are verypromising. Picking had been retarded by showery weather,but has started througliout lower half of the State. Ninebales of new cotton have been received thus far. The ther-
mometer has averaged 82, ranging from 75 to 89.
Indianola, Texas.—It has been showery on four days of thepast week, the rainfall reaching eighty-seven hundredths ofan inch. The showers were beneficial locally, but in the in-
terior they were not needed. Crops are very favorable, butdry weather is desired. The thermometer has ranged from 73to 93, averaging 81.
Dallas, Texas.—It has rained hard on two days of the past«veek, the rainfall reaching two inches and sixty-five hun-dredths. We are having too much rain, no serious damagehas been done, but we want dry weather. Crops are good.Average thermometer 80, highest 95, lowest 64.
Brenham, Texas.—Vfe have liad very beneficial showerson three days of the past week, the rainfaU reaching one inchand forty hundredths. We have had enough rain for thepresent. The crop is developing promisingly. The thermom-eter has averaged 85, the highest being 101 and the lowest 68.Palestine, Texas.—It has been showery on one day of the
past week. Crops are splendid. The thermometer has aver-aged 80 ranging from 68 to 92, and the rainfall reachedtwo hundreUtliB of an inch.Huntsville, Texas.—U has rained magnificently on three^ys of the past week, the rainfall reaching two inches and
thirty-one hundredths. At last we have enough rain Pros-pects are first class, notwithstanding some damage by therecent drought. The thermometer has ranged from 68 to 96Averaging 83.
'
I Weatheiford. Texas.—It has rained on two days of the pastweek (almost a deluge), the rainfall reaching three inches andlorty-two nuaoreatJus. We are having too much rain; proba-
bly no serious damage has been done, but dry weather iswanted. Average thermometer 75, highest 95 and lowest 54.Belton, Texas.—We have had showers on two days of the
past week, which were very beneficial, and the indications arethat they extended over a large surface. Crop accounts aremore favorable. The thermometer has averaged 78, the high-est being 92 and the lowest 63, and the rainfall reached oneinch and eight hundredths.LlMng, Texas.—It lias rained hard on one day of the past
week. No serious damage has been done, but no more rain is
wanted. Planters are becoming very nervous about cater-pillars. Picking is progressing. The thermometer has aver-aged 81, ranging from 64 to 97, and the rainfall reached oneinch and fifteen hundredths.New Orleans, Louisiana.—It has rained on six days of the
past week, the rainfall reaching two inches and fifty-nineniindredths. The thermometer has averaged 78.
8hreveport, Louisiana.—We have had generally fairweather during the past week, with two light rains. Therainfall reached seventy-eight hundredths of an inch. Cropsare in an excellent condition. The thermometer has rangedfrom 69 to 93.
Vioksburg, Mississippi.—Telegram not received.Columbus, Mississippi.—We have had rain on two days of
the past week, the rainfall reaching one inch and four hun-dredths. The thermometer has averaged 79, the highest being93 and the lowest 68.
Little Rook, Arkansas.—The weather during the past weekhas been fair to clear and dry. The thermometer has rangepfrom 63 to 90, averaging 77.
Memphis, Tennessee.—It has been showery on two days ofthe past week, the rainfall reaching thirty-four hundredths ofan inch. Average thermometer 78, highest 90, lowest 67.The weather was showery during last week, and the rainfaJJreached one inch and twenty hundredths. The thermometeraveraged 78, and ranged from 63 to 91.
Nashville, Tennessee.—It has rained on two days of thepast week, the rainfall reaching twelve hundredths of aninch. The thermometer has ranged from 61 to 91, averaging
Mobile, Alabama.—It has been showery on six days, andhas rained severely on one day, of the past week, the rainfallreaching one inch and fifty-two hundredths. We are havingtoo much rain, and crop accounts are less favorable, althoughthe crop still continues to make good progress. The ther-mometer has averaged 77, the highest being 89 and thelowest 69.
Montgomery, Alabama.—It has rained on everyday of thepast week, and when not raining it has been cloudy. We arehaving too much rain, and if it continues much damage is
feared. We hear rumors of caterpillars, but think them ofveiy little importance as yet. Average thermometer 75,highest 91 and lowest 64.
Selma, Alabama.—We have had warm, sultry and wetweather during the past week, with rain on five days, the rain-fall reaching two inches and thirty-two hundredths. We havehad pleasantly cool nights. The crop is making good progress.The thermometer has averaged 74.
Madison, Florida.—We had rain on three days during theearly part of the past week, but the latter portion has beenclear and pleasant. We hear rumors of the appearance ofcaterpillars, but think them of very little importance. It is
claimed that rust is developing badly. The thermometer hasaveraged 85, ranging from 73 to 98.
Macon, Georgia.—It has rained on three days of the pastweek, and the remainder of the week has been pleasant. Thecrop is developing promisingly. The thermometer has rangedfrom 64 to 87, averaging 75.
Columbus, Georgia.—We have had rain on five days of thepast week, the rainfall reaching three inches and five hun-dredths. We are having too much rain. The thermometerhas averaged 73, the highest being 90 and the lowest 05.Savannah, Georgia.—It has rained on five days of the past
week, and the remainder of the week has been pleasant. Thethermometer has ranged from 69 to 91, averaging 79, and therainfall reached two inches and thirteen hundredths.Augusta, Georgia.—We have had good general rain on five
days of the past week, the rainfall reaching one inch amd fifty-seven hundredths. The weather is warm and sultry. Cropaccounts are favorable and cotton is developing encouragingly.The grain crop is Urge and almost unprecedented. The ther-mometer has averaged 77, ranging from 68 to 93.
Atlanta, Georgia.—Telegram not received.Charleston, South Carolina.—Vfe have had rain on two
days of the past week, the rainfall reaching one inch andeighty-eight hundredths. The thermometer has ran^d from68 to 93, averaging 79.
The foUowing statement we have also received by telegraph,showing the height of the rivers at the points named at 3 o'clockJuly 27, 1882, and July 28. 1881.
New OrleikiiB Below high-water markMemphis Above low-water mark.Nashville Above low-water mark.Shreveport Above low-water inai k
.
Vieksburu Above low-watT mark.
July 2 7, '82. July 28, '81.
Feet. iTich. Feet. in«A.3 10 10
21 14 94 « 28 2 3 1
3>i 6 Miss ing.
New Orleans reported below high-water mark of 1871 untilSept. 9, 1874, when the zero of gauge was changed to high-watermark of April 15 and 16, 1874, which is 6-10th3 of a foot aboy1871. or 16 feet above low-water mark at that poi nt.
Jolt 29, 1882.1 THE OHRONICJ^E. 137
CoifDiTiOH OF Cotton.—The following we take from onr ex-
changes, and they indicate the condition of cotton the latter
part of July :
North Carolina.—In Washington and Cumberland Countiesthe warm weather and late rains have done mach good, andeotton is progressing finely.
The Weldon (Halifax Co.) News says :
"Crops are ImjirdViiiK every (lHy,aU(I with saltablo weather there willbe an ayerage yield in tbia seotiou. both of cotton and corn."
Alabama.—The Mobile Price Current of the 22d inst. says :
"Rainy weather hai prevailfd tlirouKhoiit the interior during the paatweek, and, whlln no nmterinl Injury has yet reHUlted to the crops, therel« apprehensliMi of dannit;it should the rains continue for auot .cr week.The present eondition of both eotton and corn is very satlsraetoiy, andthe i»ro»pectof lar«o yields uniisiiaily cnoouraKluR. Tliere are rumorsof the apiMutrHnee of cotton worms in a fow counties of Alat>.'ima andHlssis.sippi, l)Ut such reiiort.s receive uo serious attention.""Tile first open boll of eotton this season was reported on fie 12th
Inst., from Wilcox C»., Ala., and exhibited at the Cotton Exchange byMessrs. B. Kahn & Co. The flrst bolls livst season Were reported ou theI5tii July from the same county by the saiuo parties."
Messrs. Jno. W. Tulis & Co. of Eufaula, Ala., under date ofthe 20th inst., say :
" The situation hero is unohauged', and the cotton plant is growingand taking on fruit tlnely, the occasional showers we arc having k jcp-iug tlie plant in a vigorous, healtliy condition, and eiiuslng it to retainthe fruit it is taklug ou. So far wo have hoar 1 no comiilaint of sheddingor of caterpill rs. To sum ui> too whole situation, we consider the cropin this section deyelopiag euoouragiuKly, with good prospoeta both for afair yield In quantity aud an improvement lu staple as compared withlast year."
to the New OrleansMississippi.—A sp?cial from YazooTimes-Democrat, dated July 22, says :
" Fears are entertained that the continuous rains will damage thecotton crop, which promises to bo tine."
The Jackson (Hinds Co.) Clarion says :
"The crops of both corn and cotton are splendid. Cotton is growingfinely under the lufluonco of the warm sunshine we are having, andwith a pertoct staud all over the county our planters can reckon onnwre than an average cro|>, although it is somewhat late."
The Batesviile (Panola Co.) Panolian of the 14th inst. says :
" The cotton heretofore has been growing almost alone—that is, thegrass (lid not sociu to keep pace with the cotton, but the recent rainsnave changed all this, ancf the grass, from simple little spears, has sud-•Uenly spread out into a woU-Jointed green floor."
Arkansas.—1\x« Forest City (St. Francis Co.) Times of the15th inst. says :
" Both corn and cotton crops are gowing so flnely that we can't helptelling the people • way off."
"
The Des Are (Prairie Co.) Appeal of the 14th inst., says:"Good nains all over the county and crops fine. The early corn is about
made; cotton is growing very fast."
Louisiana —The Louisiana pr^-sssay of the crop :
Columbia (Caldwell Parish) Herald: "Flattering reports oome from4|U parts of our pHrlsh couceruiug the crops. Though continued drought•dill them some injury, a much larger yield, both of com and cotton, willbo raali/.ed than that of hist year.''Point Couiiee (Point Cnupeo Parish) Banntr : "The cotton on all the
OTertlowed lands wlii<'.h escnpeil inundation from the second rise is re-markably duo for its age, and with a moderately late fall aud no cater-pillars, will make at leiist a bale lo the acre."Alexandila (Kapides Parish) Exprcsn : "The crops throughou*; the
parish are good, cotton is doing wed and promises a good yield."
Texas.—First bales of late become quite common. Theywere received at the following places on the dates named: Bas-trop, Bastrop Co., July 22; Brenha in, Washington Co., July20 ; Bryan, Brazos Co., July 19 ; Columbus, Colorado Co., July21 ; Ellinger, Colorado Co., July 21 ; La Grange, Fayette Co.,July 20 ; Marion, Gaadalupe Co.. July 21 ; Navasota, GrimesCo., July 20 ; Weimar, Colorado Co., July 19.The condition of the crop in various sections is shown by the
following specials to the Galveston News :
Riverside, IValker Co.—Jn\y !7.—"Farmers in this vicinity seem con-fldent that more than an average crop will be made."Kopperl—July 1 , —"The cotton is Immense, and the fields are all clear
of grass and weeds. "_Marsliatl, Harrison. OouiUij—JulylS—"Cotton was never bettor."iretmur, Oulorudo Counly—,]uly ;:)—"Cotton here is of good grade
and will soon bo coming in regularly. We have had several fine rainsaud good crops are assured."Marion, Uiuidalupe (Jo.—July 21.—"Cotton is lu splendid condition.
There are prospects for a very heavy crop."Mexia, Limestone Co.—July 21.—" We have had an abundance of rain.
* * Prospec.s are good for making more cotton than will be gath-ered.Aiutin, Travis Co.—July 22.—" Cotton reports from the country are
favoi-4tble. • • * Prospects are fair for a much larger yield than lastyear, piokingis progressing, but a lack of hands is anticipated duringthe seasoo."Bastrop, Bastrop Co.—July 22.—" Both the cotton and the corn crops
are splendid."Dallas, Dallas Co.—July 22.—" Cotton has made rapid progress in
growth, both iu weed and in fruiting. It is au average of waist liighaud could not well look more hoiilthy or vigorous."
Ellison & Co.'s Circular fob Jolt.—We have this week re-
ceived Mr. Ellison's circular dated July 10, and give it below:
ConKSE of the Manchester Mabkbt, June 9 to Jolt 10.
The business done dnting the past month has fallen muchbelow the volume attained in May ; but the contracts thentaken and the upward tendency of the raw material have keptprices firm, and in some instances enabled producers to estab-lish an advance. Fine yarns have been exceptionally influencedby the Kgyptian crisis, but at the close they are distinctlylower than the figures toucht-d at the highest point. Com-pared with the races current a month ago, the medium countsof yarn show an advance of >^d. for weft and J^d. to \iA. fortwist; but the current makes of shirtings are unchanged andthe position of manufacturers is very unsatisfactory, ahirtingsare about the same price as thsy were twelve mouthe ago ; in
some instances they are rather easier, while the yams ont ofwhich they are made are from %d. to J4d. per lb. higher.
Movements dihuho thb Sbasoh Ocjtobbr 1 to Junk 30.The deliveries to English and Continental spinners during the
first ninn months of the season c impare as follows with thefigures for the corresponding period of last season :
N». of bales .
.
Av.wght (lbs)
Tot.wght(lli»)Bales of 400lbs
Ortat Britain.
1881-82.
2,714,210432
1,172,538,720
2.931,000
1880-81.
2,4S2.I904.->0
1.091,335,000
2.728,000
Oonthtent.
1881-82.
2,418,660421
1,018,255360
2,515,000
1830-81.
2,323,150432
1,003,600,800
2,509,000
For the whole of last season the averatre weekly consump-tion of Great Britain was 68,692 bales of 400 lb.s. For the firsthalf of the present season it was probably about 70,000 bales;for the second half it may reach 71,000 bales. We have adoptedthis latter figure for the past thirteen weeks, which, with 70,000for the previous twenty-six weeks, gives a total of 2,743,000bales for the first thirty-nine weeks of the season. The Conti-nental consumption for the whole of last season averaged 56,846bales of 400 lbs. each. For this season the average will prob-ably amount to from ."^g.OOO to 60,000 bales. Hitherto we harecalculated upon 59,000 bales, but a number of our correspon-dents think 60,000 nearer the truth. We have accordinglyadopted this figure for the flrst thirty-nine weeks of the season,whereby we reach a total of 2,340,000 bales.On the basis Of the foregoing estimates, the movements for
the thirty-nine weeks of this season and last compare as fol-lows, in bales of the uniform weight of 400 lbs.:
Surplus stock, Oct. 1 .
.
Deliveries to June 30..
SupplyConsumption, 39 weeks .
.
Surplus stock .fune 30.
Oreal Britain.
1881-82. 1880-81.
25,0002,931,0002,'
27,00028,000
2.956,000 2.755,0002,743,0001 2,65-J ,000
213.000) 103,000
Continent,
1881-82.
240,0002,545,000
112,0002.500,000
2,785,0002.340,000
445,000
1880-81.
2.621,0002.188,000
433,000
The excess in the mill stocks of Great Britain includes a con-siderable quantity of Egyptian and some East Indian cotton.Of the Continental stocks there is a much larger proportion thisseason than last in Russia, Austria. Italy and Spain, but asmaller proportion in other districts. The following table showsthat the channels of distribution have this season experiencedconsiderable changes—a fact which has caused many people tounderestimate the stocks at the Continental mills, the spinnershaving obtained supplies through new channels.
The deliveries from Havre, Marseilles, Bremen, &c., are exclu-sive of re-exports to other Continental ports and to GreatBritain.
The supply for Europe, including surplus stocks at the mills,
compares as follows :
—
1882. 1881. 1880.
stocks Liverpool and London 950,000231,000297,000250.000213,000445,000
932,00v383,000217,000324,000103,000433,000
823,000238,000
Afloat for Great Britain 307.000232.000
Mill stocks. Great Britain 108,000Mill stocks. Continent 320,000
Total 2,386,000 2,392,000 2,028.000
Showing a deficit of 6,000 compared with last year, and an ex-^
cess of 358,000 bales compared with the year before.
Jute Butts, Bagoino, &c.—The market for large parcels,
shows but little activity, and buyers are few. The jobbingtrade has been good, however, and in this way quite a quan-tity of stock is moving. There have been sales of about 3,50e rolls
various grades, at 7^c. for 1>6 lbs., S^^c. for 1% lbs., 9^c for2 lbs. and 10c. for standard qualities. Butts are not wanted,except in small lots, the larger buyers being well stocked up.In jobbing parcels some 3,000 bales have been placed, and theclose is quiet, with sellers quoting 2 7-16@2 H-I60. for papergrades, and 2M@2^c. for bdgging Qualities.
Comparative Pobt Rboeipts and Daily Crop Movement.—A comparison of the port movement by weeks is not accurateas the weeks in different years do not end on the same day ofthe month. We have consequently added to o\»r other standingtables a daily and m':nthly statement, that the reader mayconstantly have before him the data for seeing the exact relative
movement for the years named. The movemeat «AQh IQontb
This statement shows that up to Jane 30 the receipts at theports this year were 1,060,794 bales less than in 1880-81 and316,841 bales less than at the same time in 1879-80. By addingto th« above totals to June 30 the daily receipts since that timewe shall be able to reach an exact comparison of the movemeutfor the different years.
Tot.Jn.30
Jiflyi...." 2....
< 5..
' 6..'• 7..
' 8..' 9..
'10..
•11..
'12..
'13..' 14.,' 15..' 16..
'17..' 18..
'19..
' 20..
21..
'22..
'23..
'24..
'25..' 26..
'27..
' 28..
1881-82. 1880-81. 1879-80,
4,620,487
2,405
B.
1,733
1,236
4641,395
2,353
1,168
8,
58C1,006
863685
5,334201
a.
2,250
1,220
581985
3,904
8388.
892
1,620
498638
1.710
Total 4,654,991
Feroenta,-e of total
port rei'Dts July28
5,681,281
3,402
2,701
8.
1.763
2,853
4,003
3,880
3,961
3.036
S.
2,731
3,222
2,761
3,015
3,101
3,169
a.
3,009
4,188
2,467
3,717
2,512
2,589
S.
2,625
2,076
2,720
3.179
5,754,596
9797
4,837,328
1,904
2,902
1,521
8.
2,621
1,530
1,761
2,068
4,563
2,232
8.
1,874
9832,187
783
2,632
1,1068.
2,502
1,531
1,190
2,897
3,322
2.665
8.
2,351
1,254
1,546
4,887,862
97-72
1878-79. 1877-78.
4,421,749343271
1,548
6294118.
1,112
3345633222873998.
409206255158
1,382
3808.
512521
406334
1,089
2898.
501
4,134,443
99-71
4,238,246
918970
1,176
7611,163
8408930
1,013
796674
1,031
3468,
834563793613
6334778.
772489711508
1,129
4478.
1876-77.
4,256,866
97-95
3,939,755
8.
1,541
1,864
848367914819S.
8157986344797267588.
3615728394159962398.
572603621314219201
3,956,333
97-97
This statement shows that the receipts since Sept. 1 up to
to-night are now 1,099,605 bales less than they were to the sameday of the month in 1881 and 232,871 bales less than they wereto the same day of the month in 1880. We add to the tablethe peroentages of total port receipts which liad been receired toJuly 28 in each of the years named.
Indu CJotton Movekbmt from all Ports.—The figures whichare now collected for ns, and forwarded b.y cable each Friday, ofthe shipments from Calcutta, Madras, Tuticorin, Carwar, &c.,enable us, in connection with our previously-received report fromBombay, to furnish our readers with a full and complete Indiamovement for each week. We lirst give the Bombay statementfor the week and year, bringing the figures down to July 27.
ll01IBA.r EECBIPTS ASD SHIPMENTS FOR FOUR TEARS.
JTear
1882188118801879
Shipments this xoeek.
Great Oonti- _ , ,
Brit'n. nent. ""'«'•
9,0002.0003,0003.000
Shipments smee Jan. 1.
Qreat Oonli-Britain nent.
5,000!l4,000 705.00010,0001 12,OO0|2G0.OO0
2,0001316.000I 3,0001240,000
Total.
570.000511.000462,000305.000
: T1,275.000771,000808.000515,000
Receipts.
ThisWeek.
7.0006.0008,0004,000
SinceJan. 1
.
1,565.0001,113,0001.O3S.OO0763,000
According to the foregoing, Bombay appears to show anincrease compared with last year in the week's receipts of 1,000bates, and an increase in shipments of 2,000 bales, and theshipmenta since January 1 show an increase of 504,000 bal»js.
The movement at Calcutta, Madras, Tuticorin, Carwar, &c., forthe same week and years has been as follows.eALCDTTA. MIURAS, TDTtCORIN. CARWAR. RAHOOOK kVD KDRKACHBE.
Tear.
1882.1881.1880.1879.
Shipments this week.
QreatBritain.
4,0009,0004,000
10,000
Oonti-lunt.
1,000
5',6o6
Total.
4,00010,0004,000
Shipments since January 1.
Total.Qreat
Britain.
250,000160,000195,000
1.^.000 I 188,000
Conti-nent.
129,00061,00076,000114,000
379,000221,000271,000303.000
" The above totals for this week show that the movement fromthe porta other than Bombay is 6,000 bales less than sameweek laiist year. For the whole of India, therefore, the total ship,ments this week and since Jan. 1, 1832, and for the correspondingweeks and periods of the two previous years, are as follows.
gIPORTg -ro EnBOPB FROM ALL IMDIA.
SMomentsto atl Europe
from—
BombayAll other p'rt«.
1882.
Thisweek.
SinceJan. 1.
11,000 1,275,0004,000 379,000
Total 18,000 1,634,000
1881.
ThUweek.
12,00010,000
22,000
SinceJan. 1.
771,000224,000
995,000
1880.
Thisweek.
2,0004,000
SUieeJan. 1.
808,000271,000
6.000 1,079.000
This last statement affords a very interesting comparison of thetotal movement for the week ending July 27 and for the threeyearn u^ to date, at all India ports.
Alkxahdria Rbcbipts akd Shipmbhts.—Through arrangementswe have made with Me,S8rs. Davies, Benachi & Co., of Liverpooland Alexandria, we now receive a weekly cable of the mevementsof cotton at Alexandria, Egypt. The following are the receiptsand shipments for the past week and for the eoiresponding weekof the previous two years.
Alexandria, Egypt,July 27.
Beoeipta (oantars*)—This weekSince Sept. 1
1881-82.
2.831.7-20
1880-81.
2.0002,773,500
1879-30.
3.204.000
Esporta (bales)—To lAverpoolToC!ontinent ....
Total Europe.
This Since This Since This Sinceweek. Sept. 1. week. Sept. 1. week. Sept. 1.
245,900176,271
122,171
1,250 246,750154,074
1,250 400,824 466,750
291.280175,470
* A. oaQtar la 98 lbs.
This statement shows that the receipts for the week endingJuly 27 were cantars and the snipments to aU Europewere bales.
Manchester Market.—Out report received from Manchesterto-night states that business has been only checked by thehigher prices asked. We give the prices ot to-day below, andleave previous weeks' prices for comparison:
M'y26June 2" 9" 16" 23" 30
July 7•' 14" 21" 28
1882.
32» Oop.Twist.
a. A.938310939*10gi^aioisg^a^lOis958®10»499l6®10l499ia®10i4OSiaaiO^oiiaiois
99in®l0l4
854 lis.
Shirtings.
d. 8. d4'a®7 10i«
4^1®? IOI26 ®86 -3)8
6 -as412*7 IOI24>2a7 lOHi4i3»7 10i«
4»2a7 lOia6 88
Oolt'nMid.JTplls
A.0=86=86^6%6 '86^8
6I616
615i„7lie
1881.
32» Oop.Iwist.
SH lbs.
Shirtings.
d. d.859 a 9>i 6s^-a 912 68"8® 9126878 ® 9^68'a ® 912 6878 ® 03a9 -a 95sgie a 9%9% ® 9%9^8 a 9%
The Exports of Cottox from New York this week snow adecrease, as compared with last week, the total reaching 7,805bales, against 8,243 bales last week. Below we give our usualtable showing the exports of cotton from New York and otherdirection, for each of the last foar weeks ; also the total export*and direction since September 1, 1881, and in the last columnthe total for the same period of the previous year
:
Exports OF Cotton (balbs) frow New York bincs Sept. 1. 1981.
Exported to~
LiverpoolOther British porta.
Total to Ghbat Bbitaik
HavreOther French porta
Total French
Bremen and HanoverHamburgOther porta
Total to North. Europe
Spain, Op'rto,Glbralt'r,&cAill other
Total Spain, dio
Grand Total
Week ending-
July July July July5. 12. 19. 26.
8.990 4,177 2,44119, 1,030
9,009 5,227 2,447
2,427
2,427
2,126
1,570
1,570
1,222),692i 1,0365891 1,133
586
586
2,204100
1,012
4,407j 3,391 3,34b
1,661I 203
15.843 10,188 8.-.i43
3,629
3.829
414
414
1,030500
2,032
3,562
7.805
Totalsince
Sept. 1.
409,83324,472
431,305
33,218
38,218
56.61521,49319.189
100,297
7.7993,239
11,058
583,878
Sa7neperiodprevi'uayear.
369,61121,016
390,637
36,5741,609
38,183
41,340•21,81839,319
102,177
11,7242,274
13,998
545.285
The FoLLowLfa are the RscBipra of Cotton at New York,Boston, Philadelphia and Baltimore for the past week, audsince September 1, 1881:
Receiptsfrom—-
N. Orl'ausTexas.BavamutUMobile .
.
Florida
.
S.Car'llnaN.Ciii-'liiia
VirginiaNorth, ptsTenn., &cForeign .
.
This year.
Last year
New York.
ThisISince
week. I Sept. 1.
1,227208611
29161
745
203
215,969130.611;214,174
7.337172,219'0,269187,889
2,682161,809
4,937
Boston.IPhiladelphia.
ThisI
Since This Sinceweek. \Sept. 1. week. Sept.1.
69
4,075j
3.9051
1,0101 1121,159 233
.676,829,863,22669
Xio,918,666
I—
2,212150,670
4.617|418.863
•170
470
1,130
31,363
80,675
9.1.8 19
Baltimore.
This Si7iceweek. Sept. 1.
596
451II
732
1,317
79,341
27,43719,16985,229
5621,716
3,127 236,148
2.5271261.671* 1,198,226 1 1,126,966 I 112,033
JtJLT 29. 18&a.J THE CHRONICLE. 139
Shippisq News.—The eiports ot cotton from the PixitedStates the past week, as per latest mail returns, hare reached15,728 bales. So far as the Southern ports are concerned, theseare the same exports reported by telegraph, and pablished in
the Chko:(ici.8 last Friday. With regard to New York, weinclude the manifests of all vessels cleared ap to Wednesdaynight of this week:
rolal baler.New York—To Liverpool, per steamers City of Berlin, 580
City of Brueeels, 345... .England, 921....myrian, 1,099....Servia, 881 3,829
To Havre, per steamer Labrador, 414 414To Bremen, per Btoamer Moscl. 1,030 1,030To HiimburK, per steamers Silesia, 200 Sucvta, 300 500To Anisterilam, pur steamers Atcsterdam, 201 Nomosis,1,731 1,932
To Kotterdam, per steamers Maas, 50 \V. A. Scholten, 50 100Nkw ORLEANS—To Uavro, per ship Llzzlo Moses, 4,502 4,502Baltimohk—To Bremen, per steamer Hermann, 1,345 1,345Boston—To Uverpool, per steamer MarutUon, 76 76PuiLADBLi'iUA—To Liverpool, per steamer British Prince, 2,000 2,000
Total ; 15,723
The particulars of these shipments, arranged in our usualform, are as follows: .
Sew York 3,829 414 1,030 600 1,932 100 7.805N.Orleans 4,502 4,502Baltimore 1,345 1,345'Boston 76 76PhUadelp'a 2,000 2,000
Total 5.905 4,916 2,375 500 1,932 100 15.728
Below we give all news received to date of disasters to vessi-;l8
carrying cotton from United States ports, etc.:
At Baltimore, on July 25, a fin^ ooourred on a lighter loaded with cottonand to1ja«eo for steamer Ph<euioian. About 40 bales of cotton and5 hhds. tobacco wore thrown overboard, and the bala:co of thecotton, about 270 bales, damaged by water. Cause of the fire uotknown.
Cotton freights the past week have been »< follows:
The actual sale.} ot rutitre..i at Ijivci'i»ool for the same week are givenbelow. These sales are on the basis of Uplands, Low Middling clause,unless otherwise stated.
BATUKDAT.Delivery. d.
July-Aug t>S9g4
Aug.-Sept 600^4I
July 6eOK4®«i«4I
July-Aug .. 6«o„4a'8:84iAug.-Sept.. li»0t;4a 82g^
I
Sept.-Oet C53ui I
July 6«2|)4July-Aug 682s4Aug-8eiite8S(n*33«4a>7Sept.-Oct.. .Uu^cii''°*(!4
Flour has been quiet and depressed in sympathy with theweak wheat market, and also owing to the intense heat, whichcauses a deterioration in the quality of much of the stock here,especially spring wheat brands. To-day the market was still
dull and heavy.
Wheat has been active on speculation, and at times there hasbeen a good export trade; but the larger receipts at the Westand the unusually fine quality and heavy weight of the crop,
together with the splendid harvesting weather, have combinedto depress prices, and the decline for the week is from 5 to 8cents per bushel. To-day the market was irregular, opening
at an advance of ?^@lc., but losing this later, and declining M@lc., with a fair business ; No. 2 red sold at $1 13^@$1 15^for July, $1 \3}imi 15M for August, $1 14%@$1 16>^ for Sep-tember, $1 15J^@|1 17^ for Ootob'^r, $1 17^0$1 18^ for
November and $1 13J^@$1 15M seller the year.
Indian corn has been, a.s a rule, quiet, bat prices, thougli
early in the week depressed, have latterly been advancing in
response to a steady rise in Chicago, where speculative manipu-lations have caused the advance, aided by less favorable re-
ports in regard to the crop, which is said to need more rain.
These statements are treated as canards by many, but h&T«nevertheless influenced the course of prices. There has how-ever been a noticeable disinclination on the part of both ex-
porters and speculators here to engage in large transactions
lately. To-day the market advanced ^@lc., with a fair amountof trade; No. 2 mixed sold at 84i^c. for August, %a%@^h%9.for September, 85c. for October, 83c. for November and 79>6c.
seller the year.
Rye has been dull and declining. Oats have sold freely, but at
lower prices for the later deliveries, though July has advanced2c. to 3c., owing tp a corner both here and in Chicago; thetrade has been mainly in options, as the supply on the spot hasbeen moderate. To-day the market was fairly active at aslight decline in the later options, though prices on the spotand for July were higher ; No. 2 mixed sold at 68@70e. forJuly, 49^@50c. for August and 44^@44%c. for September. *
Total for w'k 104,609 1,645,198 63,703 3,563 40.639 60,812Same time '81. 125,168 1,384,309 2,224,118 156,519 12,000 25.423The visible supply of grain, comprising the stocks in granary
«t the principal points of accumulation at lake and seaboardports, and in transit by rail and water, July 22, 1882, was astollows:
In store at—Kew York
Do. afloat (est.)
AlbanyBuffalo 362.203Chicago „ 1,163,355
Wheat,bush.
2,380.282578,000
BlilwaukeaDuluthToledoDetroit ,
OeweKOJBt. Ix)ui8BostonToTOatoMontreal ....
FbUadelplila
677,700245.254346,90554.41390,000
802,12694,038
136,87969,01889,894
Com,bush.
1,115,090150,00029,000372,938
1,230,16528,322
Oats,bush,
205,037150,000
9.5001,.500
41,175975
Barley,bush.1,0211,100
7,42016,162
By,bush.
257.3685,600
35.5008,500
70.98527,o83
55.74620.014173,000212.16731,715
3,8165,553
8.28141,077
51,29553.9782,50919,07747,972
3,5952,132
29,2215,1331,493
3,3301.3102.836
34,o56
THE DRY GOODS TRADE.Fkidat. p. M., July 28, 1882.
The dry goods trade was moderately active the past week,although operations were checked to some extent by theextreme warmth of the weather. Further progress was madein the distribution of such autumn fabrics as dress goods,flannels, blankets, shawls, cloakings, etc., and there was a goodsteady business in prints, domestics and woolen goods, thoughno very large transactions were reported. Buyers from nearlyall parts of the interior are present in great force, but they areoperating cautiously, and there is not the least tendencytoward speculation. There is, however, a very sanguine feel-
ing in regard to the future of business, and a good, healthyfall trade is confidently expected even by the most conservativemerchants. Values are steady and unchanged, save in the caseof ginghams, for which extremely low prices have been madeby manufacturers' agents.
D iMESTio Cotton Goods.—The exports of domestics for theweek were 3,327 packages, including 1,807 to China, 345 to
Brazil, 344 to Great Britain, 280 to U. S. of Colombia. 241 to
Hayti, 81 to Argentine Republic, &c. There was a good steady
demand for moderate lots of plain and colored cottons, in whichall seasonable makes participated, and agents continued to
make important deliveries of brown good.s, cotton flannels,
denims, ducks, grain bags, &c., on account of former orders.
The tone of the market is very firm, and some additional makesof bleached goods, wide sheetings, denims and bags have beenslightly advanced by agents. Print cloths were in gooddemand at 3Jgc. less ^ per cent for 64x64s, and 3?^c. for 56x609,
with considerable transactions at these figures. Prints werefairly active, and a decline in standard ginghams to 8c. peryard stimulated their distribution to some extent.
DoMBSTic Woolen Goods —The demand for woolen goodshas been spasmodic and irregular, but in some descriptions
there was a very fair movement. Men's-wear woolens were atrifle more active, but selections were chiefly confined to rela-tively small pircels of cassimeres, suitings and overcoatings ofthe better grades. Cloakings met with considerable attention,and a pretty good business was done in sackings. Flannelscontinued to move freely, scarlets and dre.ss ttiinnels havingbeen in noticeably good demand. Dress plaids and linseys
were also in fair request, and worsted and all-wool dress goodswere taken more freely by out-of-town buyers. Blankets, bothwhite and colored, met with considerable saloa at steady prices.
Jlltt 29, 18S2.J THE CHROJSIOLE. 141
and leadine makes are well sold up. Kentucky jeans ruled
qaiet, but Tow prices enabled agents to dispose of some large
fots of hea^ y doeskins. Carpets were in moderate demand andfirm, and there was a freer moTement in hosiery, knit under-wear and fancy knit woolens.FoREioN Dry Goods have shown a little more animation, and
buyers for some of the more remote markets have made fair
selections of goods adapted to the coming season. Cashmereswere in better request, and silks and millinery goods have re-
ceived a fair share of attention. Linen goods were mostlyquiet, and laces were dealt in moderately ; bnt there was moreinquiry for hosiery and gloves. Men's-wear woolens were in
limited request, but mohair linings and Italian cloths met withfair sales, and velvets and plushes wer:; more active.
Impart.ition8 of Dry Goods.
The importations of dry goods at this port for the weekending July 27. 1882, and since January 1, and the same facts
for the corresponding periods of 1881, are as follows:
i§ It Manufaotui
WoolCotton...811k
Flax
Uiscellaneo
i
ManufaoWool..Cotton
8ilk....Flax..
Hlacellai]
8;g:
si : gB o
:
g:g; ; 1 ; 1 g
S;:
o 1g;
I1
; g
:i i : : S.
»: ; i i"
: : : : : aJ F*: ! * ! r:
:3^1 ^ CJltO CB h-'Mi-'t-' y VK1 aoi p-Oi'-'W**- O) ac- CbCOMiOCO ^ a >b- CO to CO to ^
1*l O-l >fi.#-CtC5 01 to OI3 •fc-COtCCOOL; o^I K> C' Ui Oi tC CC CD >;- uto ^-IC-tCCO to O X. ic CO^^ CDOf COT o:h-*-^Oi o CO c:t. CDOiCs o
§CO os.n OnD^Ctt- l>' w- X — 10 -1 u CO.!- i^O toCb (j*.t-) C^i-J-JOiW t-t ^a: U-- WtO--J rf^
CO aw toot-ioto c w' to CC -1 -1 I 05 MC;iCitoio
ImportM or Lea<Uus Articles.
The f illowing table, compiled from Custom House returnshows the foreign imports of leading articles at this port fromJan. 1 to July 21, 1882, and for corresponding period in 1881:
[Tli9 quantity is give" to packages when not otherwise speclfled.]
Tobacco, leaf hhds.Tobacco bales and cases.Tob»c'co,maQUfactured. lbs.
Whalebone lbs.
87,9fi3197
2.9251,324,5-1
32,3633,761
2010,35945,340
5302,4336,2153,3272,248
40
7626,470277198
25,340
6104,7521.303
11,650,395
1,889740262
3,544,698123,169
4,410,4192,200,805
664142,166
3,7731,020
131,6324,553
Since Jan. 1.
1882.
52631
8.455
1.831.731l.HOl
60,50212.837.U76
933.47379,9226,550
256.4'586.316.654
26,35536,708
384.46286,07236,36412,905
24513,382
184,.3318.7704,274
1,294,874
80,342134,731195.73726.372
222,944,672
104,18223,25025,840
155.006,4663,938.182
49,023.59499,6S0,714
10.03914,773,106
47,95328.1C1
3,609,937159,433
Same timelast year.
1,04»154
46,429
2,836
122!23,730,
699,13015
169,19,142,
37,33,
310,81SI18.
427225636.513165.603147875403304820,001932544476
65.36»
103,9297,05ft2.833
1,527.18a
151,031107,403237,77421,580
175,934,875
122,92S23,08831,113
254,279,93611,465,39474,575,343
135,648.23414,754
31,966.05842,62728.000
3,531.95970,895
142 THE (JHRONICLE. [Vol. XXXV.
Financial.
-Miller, Francis & Co.,
BANKERS AND BROKEES,
•48 WAlili STREET, NEW VORHL.
'CBAS.A. UII.LER. jAS.FnANCI3. BDWINJ.HANKS
I. F. Mead & Co.,STOCK BROKERS.
.a EXCHANC« COURT, NEW KORKBnuichOfflcB Willi PrlTato Wire at Hoffman House
Broiidway und Twenty-Fourth Street,
Buy and sell on commission for Investment or on•m«rgln, all securities dealt In at the New York Stocli
KxcnanKe. ™ „ «H. R. LEAR. I. F. MEAD, ^T. H. CUBIIS
Member N. V. Stock Kich.
W. W. Farmer,MONROF, L.OVISIANA.
•Couusplor, Solicitor and Attorney.Praotloes in the District Circuit and Supreme
•Courts of the United States and of tlie State, in
all classes of cases. Has no other business, and de-"vote* his personal attention ind all his time exclu-
' Vict!!/ to his profession. Hefers to Bank of Monroe.
J.D. Probst & Co.,
STOCK AND BOND BROKERS,No. 52 EXCUANOE PLACE, NEW YORK.
Stocks, RAiuioAn Boxd.s, Goternmksts and'MlBCBLLANtOrSSECCHITlKS BOIFQIIT AND fOLD.
SPECULATION AND INVESTMENTIN STOCKS AND SHARESWITH A iniNIITIITlTI BISK.
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Ellerton New Mills, ^Vliitu Mlg. Co.,Saratoga Victory Bllfe. Co.,
Hosiery and ifarn mills.
Columbia Bicycles.Thousands In daily use by doctors,lawyers, ministers, edttora, mer-chants, &c., &c. Send 3-cent stampfor elegantly illustrated 30-pageCiitalogue to
The Pope Mfg. Co.,642 Washington St., BOSTON, Maaa
New York Riding School.
214 E. 84Tn.ST,. Nbar Third Avb
Herring's Safes.THE CIIAlMPI03i RECORD
IN ALL GREAT FIRES.
HERR-inVG^ & CO.251 & 262 Broadway, New York.
JOJ.T 99. 1881.1 THE CHRONiCJLE.
Comni«i*HlU Card*.
S8TABUoUlU> IMM.
Sears & Cole,STATIOlfKRS AMO PRINTHB8.
Supplr Bank!, Baniitn, StMk Broken and Corpo-ratlona witb complste oatlU at AMuunt Book* willStationery.tr New conoero" nrmnliins wlU hare their or-
4ei« promptly exaeuted.
No. 1 WILLIAn STREET.(IIANOTEK MQVARB.)
BTEBT BANKER AND XERCHANTSHOULD BUY AM
Amateur Plioto^aphic Outfit,
( [aatruotiou Book Free), expenae trifling, frou
S. & B. T. ANTHO^iY & CO.,
(Mtl BROAnWAT. NFW VORK
^I<-HIIImIiI|>«.
Only Direct Line to France.
GENERAL TRANSATLANTIC CO.Between NEIV YORK and HAVRE,From Pier (new) 4a North River, foot of Morton St.Tnivetfrs by this line avoid both transit by KnKllsh
Ballway and the dlscomforta of oroealOK the ChaunelIn aflmull boat.BT.(>KUM.\IN, Berry Wed.,Aui;.8.T A. H.AMKKIOL K. Santelft Wed., AuK.e, 2 P. M.8T. LAUHKNT, Servan Wed., Auk. 16, 7 A. M.Price OF Pashaob— (Including wine): To Hav re-
First cubin, flOU and JbO; second cabin, $80; steer'aj[e, St^—Including wine, bedding and utensils. H&-tum tickets at very reduced rates. Checks drawn onCredit Lyonnals of i^arls In amounts to suit.
FOR niARSEII.I.E^,TODCHINO AT Cadiz, Uibkaltak A Barcelona.The following steamers will leave New York direct
for Cadiz, Gibraltar, Barcelona and MaraciUes, takingfreight and passengera
;
PK^RDIE About August 1Katkh op PASSAOB-Ii'or Cadli and Gibraltar—
First cabin, »7.'5 and H(0 ; for Barcelona and Marseilles—Mrst cabin. »80 and »100. Hteerage. »32.Through bUU of tiiilinK iMue^t to Alediterranean
Porta, including Barcelona, Algeria, Tunis, Uen<ia,Leghorn, Naples, Messina ; alio, for Trieste and Con-tantlnople.N. B.-No freight taken for Gibraltar.
LOUIS DB BBBIAN, Asent,Ko. e Bowline Creea.
Cotton.
HUtUT H. Wakk. OnjuAV aoajutBaSB
Cotton.
BYUANB * DAMCY,Moarsuc. ta.
Dancy, Hyman & Co.,COTTON CX>MUI8eiON M£RCHAMTB,
97 Pearl St., New Yark.Sveola] attention given to ibe yurcbaae and sale
of contracts for future deilTery.
J.P. Billups & Co.,
COTTONOOMHISSION MERCHANTS
Noa. 16 * 18 BzcbauEe Plaee,
POST BDILDINO, NKW YORKSpeelal attention given to til* Purchase and 8aJe
ef Contraota for future dellTerr of Cotton,
f
I
John C. Graham & Co.,(Buooesaora to R. M, WATXR8 h CO.),
COTTON COMIIISSION KERCHANTS,N*. It WtUIana Blract, New Tark.
BBUCA, ALA., Paamx tnij>i]ca.OMTOOMKKT. AUU Moaau Bakk BciLDna.OMms tar Futuia Contraota Bieeated ta Mew Tock
aaa liTamst
Geo. Brennecke & Co.,OOTTOR BKOKKK8,
H*. 110 Pearl Street, New York.FuTOBi OeKvaAon A BraciAirr.
.Wm. Felix Alexander,COTTON BROKE K,
ACreVSTA, SBOKOIASatire attentlea gtvea •• rarelwM of COTTOB TO
WtOBB for BPUmXHS and XXFUBTRB8CoBaaaromiaafla Souoms.
for the pnrchate or sale of contracts for future de-
Urerr of cotton. Liberal adranoe* made on coo-
•tgnmenta.
B.F.BABCOCK&CO.COMMISSION MERCHANTS,
17 Water Street, LIVERPOOL,Receive consIgnmeDts of Cotton and other i'rodaoe
and execute orders at the Kxchanges in Liverpool,Bepreaented in New York at the omce of
BABCOCK BKUTHKliS * CU.,
80 WaIX 8TB««T.
A. B. aWATHMBT, I. O; BLOM.
Gwathmey & Bloss,COTTON MERCHANTS,
Mo. 133 Pearl Street, New Yark.Special attention given to the exeeatton ef orders
for future delivery contracts,
HINBT H. BTANS. CHAS. FRANCU BIBBIMember N. r. Cotton Bxotaange.
Evans & Beebe,Noa. 43 A 44 NBIV STREET.
SPECIAL ATTBNTION TOParekaae and Sale ot ConlraoM tor Facare
DellTerr.
Cotton.
Gardes & Wisdom,COTTON
COMMISSION MERCHANTS,NEW ORLEANS, LA.
Special attention paid to the execution of ordersfor the purchase or sate of contracts for fnturdelivery of cotton in this market. Mew York anLiverpool.
Wabbxn KWBM, JB. JOBM U. X«rB«.
Ewen Brothers,
COTTON BROKERS,Nee. 31 & 33 Bread Street,
MEW TOKK.
Bennet & Foulke,conmissioN rierchaivts,
131 PEARL STREET,NKW YORK.
Special attention given to the ezeentlon of order?for the parchaae or sale of Contnwta for Fatortdelivery.
Geo.H.McFadden & BroCOTTON FAerORS
AND COUHIS8ION HERCHAHTBISl Cbeatnat St., PhlUdelphla.
J.F. Crumbie,
IMPewlSt., COTTON, New ToA.Special attention given to order* for the bovtagand aeltlag of Conoif roB Futvbb Obutbbt.Hember of Cotton Bzchanae,
JOHN H. CLISBY * CO.,OOTTOW BDTEBfl,
nONTGOMEBY, ALA.PcaosAsi OMLT ON obdbbs, roB A ComneaiOB
'VBBBA"'UBIZBT.
WOBKB AT ORIBMT, L. 1m BBdBIOBMOIIU, VA.
The Atlantic & Virginia
Fertilizing Co.OFFBR THBIR BTANUABD BKANDB
AmiOBIATBD BOMB 8lIPBBIIiI0«rBATB OW lAOAMD
** ORIENT COMPLETE MANURE,*'And want a good working agent In every tkrtvlcicotton, tobacco, grain and truck growiag eooatyApily (with reference) to
W. e. CRENSHAW, Prea>t,CBK>(BAW Wabbbovob.
E. S. Jemison & Co.,B A N K B B a
COTTON COMMISSION MERCHANTS,
No. 10 01« Slip, New York.
Jemison. Oroee k Co., Galreitoii, TexBB.
Dennis Perkins & Co.,COTTON BBOKEBS,
117 Pearl Street, New York.Orders for Spot Cotton and Futmes rronviij
executed.
Robert Tannahill& Co.,
Cotton Commission Merettanta,
Oelten Exchaace BaUdlnc, NEW YOKK.
Special atteatlon givea to the pnroluue and aale otruttire Contracu .
Wi(.110BB. H.W.HABBMA«ir. Cl.aiM8gFucaaB
Mohr, Hanemann & Co.;,
133 PEARL ST. ISHI URAVIEH ST.
New York. New Orleans, La.
BrBOUL ATTEMTIOH OITBII TO THB KXBCDTtOa
OF OBDSBS FOB FCTUBB CONTRACTS.
Waldron & Tainter,GENERAL COTTON HERCHANTS,
97 PEARI- OTREET, ^EW YORK,"Pnture " orders executed at N. Y. C.ition Kxeh*g«
Geo. Copeland & Co.,OOTTOa BROKERB.
136 PEARL SYRERT. NEW YORK.
F. Hoffmann,COTTON BROKER AND AQENT,
•• RUE DE LA BOVRNE, HAVRB.
James F.Wenman& Co.,COTTON EROKKBS,
No. 140 Pearl Street, near Wall, N. C»Katabliahed (in Tontine Building) 1S40,
William H. Beede & Co.COTTON BROKERS.
No. 114 PBABL STREET.
WALTER & KROHN,COTTON BROIiERg,
CS RBATER RXREET. NE^Y YORK.
Rogers & Pendleton,COMMISSIOtf MXRCnANTB.
HO. ST PEARL STREET, NSW YORK.Advaeoea made on eoualcnmente «t Oettoo. Orals
aad otber Produce.Buy and aell eoatracta for tatare BeUvary at
Oraln aad Provialona.
H. Tileston & Co.,COTTON, STOtJKS, BONDS, tf,
to WILUAM BTBKKT, HBW TOBE.Ofders la " ratarea" ezecated at N.Y.OoMon ssak
THE ISROWN
Cotton Gin Company,NBW LONDON, CONN.,
laAinirAcnmxBa or ^am ceiiBBaaTBu
BrowH Cotton Giss, eia F«e4orB ««Condensers.
eomoK ana ros aaeta.
m THE CHKONICLR lint 89, 1880^
iMi»ceiiaucuii».
Walter T. Baleh. Betiry P. Batch.NuUi'l W. X. Uatth. Arthur U. Halth.
W. T. Hatch & Sons,BANKBRS,
14 NASSAU STREET, NEW TOBK.Branch Omnuil '••* rhiTpli Hiree«, N. T.oiUACH UFFICKH j.^g t hiipel St.. New llaveaPerfonal altentlon (riven at the EXrOANGES to
the purehHeeHndBaleof HiOCKSand BONDS forcash or on m -ri/tn.J>i-:i'(»-lTa HKK'BlVBD-^Riiblsct to cheek at sight
—with interest npon ba'anccB.Special attention paid to 1NVBBTMKNT8 aad
aocuunlaof COUNTKV BANKKK8,
HOMEInsurance Company
OF NKW YORK,OFFICE, 119 BROADWAY,
Flltr-I Ifchtb Seml-annnal StatementSHOWmO THE
COWDITIONOFTnB COMPANY ON TBBFIB8TDAY OF JUI.y, 1888.
CASH CAPITAL $3,000,000 00Reserve for Uueamed Premltims 1,967,087 00Reserve for Unpaid Losses 209,450 97Net Surplus 1,661,572 10
Cash Assets $6,838,719 07SOiniVARV OF ASSETS
Held in the United States, available for the PAT-MKNT of I.088K8 by FIRK and for the protec-tion of Pollcy-Uoldera of FIRB INSUKAVTK:
Cash In Banks |iee.aiS MBouda and mortKaties. t>elntr tlriit Ueuooreal estate (worth »S,186,S00) 1.3fl3.737 44
United States HtockM (murKet value).... 3,UU^,7Q0 00Bank& KK. 9tock«&bd>.(market value) Wil 3S0 00^tatti and tuiinicipal b'ds (tnarket value) 128,500 00Loans on stocks, payable on flflrnMnd
(market valueufcoliHter'Is. tl,MB.S12 . 1.00T.4SO 00Interest due on Ist.Inly, l»«-a 80.1174 91Premiums uncoll'ct'd X in h'nds of af[tB. H*.!.14'J S8Heal estAte 36.4W 4»
Total fe.838,719 VI
OHAS. J. nAKTIN, Frenldent.J. H. WASHKUKN, Secretary.
^TNAInsurance Com p a n
y
OF BARTFORO.Assets January 1,1682 $8,902,272 04Liabilities for unpaid losses
and r»-lnsurance fund 1,774,849 74Capital 4,000,000 00
NET SURPLUS........ ...$3,ia7,42a 90
!Vu. 3 Cortlandt St., .Mciv Vork.JAS. A. AI.K3I:AND£U, Aiient.
North British
& Mercantile Ins.- CoOF
LOXDOX \\l* i-:OI\-B('R«^]I.
United Stales Hoard of .H.mageiu^'m,
NEW ro/.'Jf ;
SOLON mJMPIiRBYd,Oh'i'u,(K.D.i'.OP,?ai*CttDAVID DOWS, Ew]. (David Dow»&Co.>li. V. FABUKI, Esq. (itrcxd. Morgan S'-'l^.'
aoN. 8. B. OHITTENDBN. •
.-ZRA WHITB, Ksq.I. J. ASTOU, Keq.
CHAS. E. WHITE, SA.\I^. Ul.AfiUr.N,
MANAURl^S.
Office 54 U'llUam St., New' YorlL.
Cotton.
Woodward & Stillman,MERCHANTS,
Poit Bnlldlngr, IG A 18 Exchange Plaoe
NKW YORK.
LOANS MADB ON ACCEPTABLE SBCT7KITIE8.
.i OaihAdfonea itatU on OonMignrntnlt.
fraCIAL ATTB!irnOy to OROEBS fob COJfTBACXS
FOB FUTtTBl DiLlTSnV OF COTTOX.
40TTON, ALL GRADBS, SUITABLE TO WANTSOF BPiNNERS,
OWmXD ON TXBHS TO SUIT.
J.H. PARKER,
GonnissioN merchant.
No. 140 PEABI. STREET,
NEW YOBK.
Conalcnmenta of Cotton, Naval Stores
and otber Prodace Solicited.
BXECDTES ORDERS FOR THE PURCHASEAND SALE OF FUTURE CONTRACTS IN THE(OTTON AND PRODUCE EXCHANGES.
Henry Hentz & Co.,GENERAL
con.nissioN kierchants,8 Sootb WUlIam St., New York.
.^dvanoee made on Conslnnments to
niesitrit. JAiTIES PINLAY & CO.,LIVERPOOL, LONDON AND OLA8UOW.
Also execute orders for Merchandise tbroQRh
ffleMra. FINLAV, IflVIH tc CO.,CALCUTTA AND BOMBAY.
CONTRACTS FOR FUTURE DKLIVKRY COT.TON bouKht and sold on cotjmission in New Yorkand Llverp<x>l: also at New Urieaus throuffb Meura.Samuel II. Buck A Co.
Fielding & Gwynn,
CftiroN FACTORS
COMMISSION MEliCHANT-
1» & l!i Exchnnir Place,
POST BDILOINO. NEW YORK.
OtTITAVTmC. HOPKIUg. LrCHTS HOPKIXS SMITH.Cbaulkh D. Miixeu. Auos T. DwiuHT, Special.
Hopkins, Dwight 6c Co.,
COTTONCOMMISSION MERCHANTS,
No. 134 PBARI. STREET,NEW YORK.
OBDEBS »0B FCTCRE CONTRACrS EXECUTED INNew York axi) Litkhtooi.
-i-tr~
,:Henry M. Taber,
H*. 141 PEARL tSTKEKT, NEW YOUK.
Cotton.
AdmaeM madron fo-^nUnmenta of Cotton. Con-triicts for Futare Unlivery uf cotton booKbt andIold on commtiHiOTT.
Lkhmav, Abraham & Co^ Leh.maw dukk & Co *
2^ew Orleunm Uu iliujiticomory. Ala.
LEHMAN BRO'S,6-0VT ON ; F-vrC T OR 8
AND.„ ConnissiON kierchants,
' '. " No. 40 EXCHANOB PLACE,"^
a^Jtowa OMicahJ(os.W-A 41 WaIiK>ii.8tbeet,
U«V-.J.f:.-. "•» *io'|K..r-_'r-...:.r.,..,.
^rdera executed at the Ckitton Exchanges In NeifToi^-and Liverpool and advances 'made- on^ Cottonand other produce consumed 't^ as, or to our corre
pondents in Liverpool, Messrs. B. Newsasa k Coand MeMTK L KoseafeicliB A Snas
INMAN,SWANN&CoCOTTON MERCHANTS,
COTTON EXCHANGE BUILDINO,
New York.
LOANS MADE ON
SOFTHERX j«ECI;RIT1ES.
Rountree & Co.,
COTTON COMMISSION MERCHANTS12 OLD SLIP, Cor. WATER ST., N. Y.
NORFOLK, VA.Sy Special attention i^ven to the execution of
orders for the purchase and sale of Cotton for futuredelivery. Liberal advances made on consignments.
Cumming & Baily,COTTON FACTORS
AND COMMISSION MERCHANTS,No. 89 Pearl Street, New York.
Special attention idven U> the purchase and sale ofoontructs fur future delivery on the Cotton and Prod'uce Exchaniies.
Wu. Uenuy Woods 6. O. Mdbpht
Woods & Murphy,(Post Bi'iltino.)
16 & 18 Exchange Place.
COTTO.V, STOCKS A\D nO.\DS.
ORDERS IS FUTURE CONTRACTSXXECUTED I!f SBftT YORK AND UYBRPOOL
P. O. BOX 234S.
oaAS. r. BoTioRST,
NEW YOBK..
JOBH R. BARRSTT
C. F. Holiorst & Co.,fOTTO^
COMMISSION MERCHANT:^No. 136 PEVUL STREET,
Kew Vork.Receive Consignments of Cotton and other produceLIBERAL ADVANCES MADE.Special attention fciven to orders for the porchavf-
sDd sale of (^ntracts for Future Uelivery of Cottua.
Miscellaneoiii.
Dullard & Wheeler,119 IQAIDEN LANE,
NEW YOBK.
BAGOING AND IRON TIES,(FOR BALING COTTON.)
Aients for thefollowInK brands of Jute BacstnnEiwie .MIll8.""Brooklyn (:lty,""Georirta,""Carolinu."Novlns o." "Unl<in .Star." "Salem," "Horioon Mllhi,';
"Jersey Mills" and "Dover Mills."l.MPORTEKS OF IRON TIES.
BAGGING.WARREN, JONES A GRATZ,
ST. LOUIS, Mo.
Mannfactorers' Agents for the sale of Ju«e Ba».
BlnK. Kumish covering annually for one-bflh of the
entire (Xilton Oop. Correspondence from lame
dealers solicited,
Wire Rope.S^tTELAND (SIABCOALIKON of superior quality
suitable for MINING ANuHOISTING PURPOSESInclined Planes, Transmis-
sion of Power. Ac Also,i;atvani/ed Cnarcoal andiltl for ships' KliiKinK. Sus.>ensiun UridKes, Ueniokiuys, Kerry Hopes. Ac. Alari^e stock coostantly oonand trotn which any de-..irM/1 itiiiKtbs- are cui-IfLATSl'KEL AND IRONHOPES tor Mining pur-poses m tiiulactured to or>dar.I»IASO\ 4; CO.JOHN