ttmtk HUNT'S MERCHANTS' MAGAZINE,' REPRESENTING THE INDUSTRIAL AND COMMERCIAL INTERESTS OP THE UNITED STATER VOL. 41. SATURDAY, NOVEMBER 7, 1885. NO. 1,063. 35He Chrottkle. Thk Commercial and Financial Chronicle is publis?ud in New York every Biiturday morning. t Entered at tUe Post OIHce, New York, N. Y., aa second olaasmall matter.) WtLI-IAM JOHN a MB DiNA J^"'*'*'^™"- "ANA dc Co., PubllNhers, KLOVD f Tl» & 81 frilllain Street, NBW VOUK. CLEARINO HOUSE RETURNS. Mainly on account of the abatement of speculation during the week, but perhaps partially in consequence of the lessened business activity which immeiliatelv precede.s an election, the exchanges for the six days ending Octo^ier 31 record a decline from the two preceding weeks. The exhibit is nevertheless a very favorable (iue, and in comparison with the corresponding week of 1884 (when the clearings showed a decided falling off due to the disturbing influences accompanying the Presi- dential election), there is an increase in the total of 39 per cent. New York Stock Exchange share transactions for the week reached a market value of |127,768,000, against f56,800,000 for the same period a year ago. they exhibit an increase over the same months a year ago o 10 -4 per cent. j New York. ... Bohton Providence.., Uartrord Piirlland Worceatpr Sprlni(flcld ... Lowell Oclnber. I P. a. Ttn Honlha. 3,188,740.190 3,370.SS0.12S|.t-84'S21.S94.rl61.aM93.SIl.(»1.0MI-lS-» »«3,I2I.Ml! 2a.MlB.liOO 4.4ia..'>17 3. lOD.MUi 2,;i'ji,4a7l 2as,(H1.009 +lg-5 2,T70,72I,42C lo.«^^:^l3l|-\sl^.9 I72,lo».700 «,254,0>)8 J-:l2-7: 4,471,SW +10; 3,:e8,z«» +i.'<-4 »,iMl.H9ili +30 2.8*1,907 -0-4 IP. 01. z.iTv.wi''. vy\ +8-S 10 -46 -2-3 -10-» Tot. N. BSag.! 388.000,81)4 889,400.184 +10-2 8.184,471,0861 8,051.118,521; +8-7 67.71)0.54 ^ S7,49l.4.'«| .'»l,«73,aK.i 30,086.722 lti.880.a74 :il.:llv™j 20..'>U4,Oa4 PhlladelPbla.. I'lttsburg Baltimore Wee* Bnding Ott. 31. Wttk SnMnt Oct. 24. New York MUtot— (,3tocla....ahaTes.) (Cotton balfa.) (Grain. . .biuheU) (PetrnUum.bbls.) Boeton ProTidenoe.« .. Hartford Portland Worcester SprinKtIeld I.oweU 1993,814,387 (2.3,37.fl«») (5HS.700) (37,306,000) (84,662,000) 170,974.841 5,579,400 1,534,258 1,037,815 7»t,«64 713,723 408.83«! 1884. (458,532,568 (888,448) (477,000) (22,795,200) (83.0(15,000) 158,811,468 4,1118,700 1,173,465 1,023,973 808,300 653,389 456,011 Total N, England Philadelphia... PlttSbUTK Baltimore Total Middle.. Chicago Cincinnati ... Milwaukee... Detroit Indianapolis Clereland ColambUB P*orla Total Weatem... Bt. Loula St. Joseph New Orleans I.oa)sTllte KanaasCltr Memphia Total Sontbem.. Ban Francisco Total all Outside New York (87,043,831 147,353.039 7,407.117 10.337,785 (67,423,308 (39,828,337 8,461,699 11,577,658 +51-6 +I63-1; (+25-3> (+63-7) (+1-8) +30-9 +240 +80-7 +1-4 -1-6 +»8 -10-3 Percent (828,373,049 +38-9 (3,<'51.233) (409,500) (89,310,400)' (133,771,00(1 (05,098,241 »4S,77I.241 8,212,250 4,105,872 2.948,221 1,377.473 2.142.899 l.SW,809 938,421 (69,882,186 (13,662.131 6:i5.970 10.760.103 S.863.U0i< 4.771,467 1,582.422 (33.276.008 (11,512,515 »Sfll,i 87,168 (1168,812,781 (39,867,094 (44,313.792 8.063,250 8,702,453 8,690.522 1,335,327 1,»'81,996 1,192,588 778,746 (64,137,618 (12,918,375 570.131 8,477,673 3,289,468 3,602.643 1,385,0091 +29-1 +18-9 -125 -10-7 +8-7" +0 6 + 1-9 +10-9 +9 6 +8-2 + 13-9 +16-3 +20-6 (78,789.088 +231 5,844,800 +35-3 1,580,438 +16-9 1,000.548 +2-1 904.332 +14-3 792.658 +5-8 728,681 +9-3 (+02-7, (+1I-4: (+20-7) f+6811 Tot.Mlddle. fJhlcaco Cincinnati Milwaukee . .. Detroit Indianapolis.. Cleveland ('olumbus. ... Peoria Tot. West.. St. Louis St. .Joseph .... New Orloan;".. Louisville Kansas City... Memphia Tot. South... San Francisco. Total all Outside N.Y.. 8311,905,761 »2.7it.'>,9S|! 68,164,»^9| 321,836.674 303.»2'f,468| +6-1J 2,878.0»t7,7i8i 3,080,503,481+18^ 808,2?0,082i+13ei 1,904,298,178. 2,I5il..S72..'«)6 ^11-4 37.4N«,H87|— 12-6! 2»-?,l05.890| ll)7.l«!X.162 —2H-8 B7,«I»,44« -9-8 48i.l93,IMtI ,'V28.5irJ,l)53 -trS 2»I,770.«2;J' 41.9 .2 .1-^5 I8,««i.22; 14.591.49Hi 8.033.S28 9,85H,lN2| 8,305.282' 4.431,202 204.712.8TB +14-7 aH.7:W.0S0; +8-8' I6.:<.'«),7li7 +14-5 13,279,277 +9-9 5.888,112 9.3»7,l<42 6,048,2rt3 4,a;9,:<64 336,877,2631 89'*,471,9(>3 6«,.'i32,735 .3.123.586! 40.3«M.HOO 19,467,445 2.").085,«5a 0,5a5.715 $2-8 +4-9 +:•« +9-8 1,863,844,004 361,8411,125 14-,.VW.i'94 114,479,640 6-^651,491 83,641,608 9lt,0mi,6!t7! 84,i80,8»l +12J 8,718,207,:»7i 8,774,182.183 l,SR0,.-.7I.2<f: —! 3-«.07><.70O. —4-8 I4.'>,777,259 +8-0 ll2.{i7X.il(0 +*1 eD.im.W)' — 121» 87,1-20,910 —49 38.il8i,.S3a( -»* 87,310,095 -8-4 -8-0 63,474,959 2.66M08 - 88,4'20.300 16,21 1.:i81l+V0-I 17.40n.42li4-«4-| 5,60U,1W6 +19 8 +4-8 +89-5 +3-ol 683,828,980 29,583,!lOS 2KI.7n2.9:'8( 1 7'!. 400.133 18:<.fl-a*.023i 51..U0.503; 6.'«),79'<,03.1 89,971,781 8i9.Sw0.3>-2 177.879.64;) 144.343,107 43,09-2,045 161,354,783: 31,609,656 i43,5.9,410+12 4 51,162,816 —4-7l 1,347,907.077. 465,738,911 1,403.163,083 462,504,178 4,419.431,38i|3,495,«56,!i»4'+8T3 31,939,778,719 1,-459.683,183 1,125,000,8691+11-910,344,917,383 37.290,582,808 I0.T7k',471,44e -6-3 —1-8 -10* -o-» 4 19* —I-I -14-S — i-0 (89,586,440 (58,848.616 8.218.998 10,758,160 (77,923,774 (49,821,481 9,510,650 8.707.038 3,145,122 1,315,820 2,837,001 1,857,740 905,760 +83-1 +35-8 -5-4 -13-9 +20-3 +15-7 +9-8 +1H-0 + 10-3 •fO-3 +11-3 +0-0 +132 Our coinpil ttion covering operations on the various New- York exchanges for the month of October and the ten montlM is as follows: Oe«eri]>t<en. (80.253.101 (13.365,680 +8-9 +5-8 +9-8 +28-9 +17-5 +3-2-4 +14-2 +16-6 —13-9 I (693.6 '1,969| +390 +14-4 (285,069,401 (71,900,062 (15.226,821 718.544 10,S-2«,185 4,869,483 4,460,047 1,554,-284 (36.555.304 (10,978.617 (1,115,857.816 (286,884,187 + 18-9 +5-0 +26-2 +12-9 +370 +4-4-7 +127 +14-8 +14-8 +31-6 Stock—Sh'r's Value RR. bonds... Gov't bonds. State tMinds. Bank Bt'M;ks. Petr'l'm.bbls Cotton, bul 04 Urain...bU8h Total value Par Value itr Quantity 12.BW.490 *U7«l>045<l il0l.«12,>i00 (1,215,000 (4,6118,450 (I()-2,1I5-. 4O«.4«.'1.0OO 2,1 76,400 184,182,665 Actual Vnlue. Aver'tje Price. : 693,848,483 59-3 '(74,S9I,«7l' 71-1 (1,467,6^5 117-9 (I..577 ,925 27-8 (llH.r.OU 114-2 Tm Sfonthg. Par Valtit or QiMlutUy Actual Value. Prltt. 64-S (43). 127,1180 (11)6,778.165 (165335,841 1,477.539.341 108N (49 07 90c. «8.4'2S.W28' i !»62:fl.ll«i 00 «.o-27ji4i.oeo ' »4«l.n 2.-i'-.0 (387,7W.27» ««•* »i2,<7o..':0o (ir.,'-- — •-.s (lO.xii^.ilSO f ; (sas.Srti) 8.835.500,1X10 2.w:\ r JOe I3.471.3il0, (811 40r.rt2j,s32«4 l.6a4.835,7)3;l,S4e.l8n,00.'> 8Se. 19.068.685.9101 +18 S As our statcmf nts from week to week have indicated, the ex- changes for ihe monlhof Octoberreach avery large afrgregaie. In fact the total for the whole country exceeds that for the same month of 1884 by |953,574,387, a gain of 27 3 per cent. The ten months c.l the present year exhibit a decline from the corresponding peiiod of last year of 14-3 per cent, but out- Kide of New York the falling off reaches only 4 per cent. The imj.rovement in exchanges dates back to the first of July, and taking the figures for the four months since that time Our telegraphic returns of exchanges for the five days are of an exceedingly satisfactory character. At New York, where the figures cover only four days, there is a consider.ible increase over the figures for the preceding five d lys and at the other cities large g-iins are the rule. Compared with 1884 the aggregate records an excess of 47-7 per cent, and with New York excluded the margin in favor of this year reaches 19*5 per cent. New York aalaof StMk (ika.) Boston Phlladaiphto.. . Baltimore. C!hloaKO St. Louis New Orleans... no* Day Eniing Sov. 6. 1885. Total Balance. Country* Total all OntsidA Vow T'lr)! (640.606.687 (2.0<S.58tl ' 77.608,201 48,541,668 10,780,280 48,308,000 13,131,358 g.494,439' tS18,668,568j 50.793.U1I »8«ll.41V>.'illfl[ ^•^ ,•<.>.-„)...,>-> 1884. . |P<r Oml (3»2,400,I66| ^4)38 1851,1611 (+1380 saesB^ssI -fso-i 87.7S7,810l lI.e04.84Sl 86,01-2,847 18,82-1,678 9.g90.&a3 (359.978,686' 49,lie,8»3| (6(19.090.594 .21rt.«fli>.428 +886 -9-4 +846 +8-4 +11 +61-* +8-4 jH1-7_ "+i4-3 SCyiKnd'gOet. so. IMiSl \PtrOm» (594.601.7Bt: -(ftS-IV (1.876.544)^ (+144-8) eS.fflS. 199; +31-1 8».910.a-S, 8.606.880 4O.«O8.0a« 11 AA'i OOl' ii.«e3.884: 0,300. ID4| 'tra8,«2«,«oi| 62,5aS.49T{ +81-0 -»» + 8-7 +iri +4»i (881,188, J8.497I +14-1 i«,90a! +^4ir7 ,8lWM1106t <-17-S * Jkstuuated on the baaie ol the laat weekij fMorBS.
30
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November 7, 1885, Vol. 41, No. 1063 - St. Louis Fed · ttmtk HUNT'SMERCHANTS'MAGAZINE,' REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOPTHEUNITEDSTATER VOL.41. SATURDAY,NOVEMBER
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ttmtkHUNT'S MERCHANTS' MAGAZINE,'
REPRESENTING THE INDUSTRIAL AND COMMERCIAL INTERESTS OP THE UNITED STATER
VOL. 41. SATURDAY, NOVEMBER 7, 1885. NO. 1,063.
35He Chrottkle.Thk Commercial and Financial Chronicle is publis?ud in
New York every Biiturday morning.t Entered at tUe Post OIHce,New York, N. Y., aa second olaasmall matter.)
WtLI-IAMJOHN a
MB DiNA J^"'*'*'^™"- "ANA dc Co., PubllNhers,KLOVD f Tl» & 81 frilllain Street, NBW VOUK.
CLEARINO HOUSE RETURNS.Mainly on account of the abatement of speculation during
the week, but perhaps partially in consequence of the lessenedbusiness activity which immeiliatelv precede.s an election, theexchanges for the six days ending Octo^ier 31 record a declinefrom the two preceding weeks. The exhibit is nevertheless avery favorable (iue, and in comparison with the correspondingweek of 1884 (when the clearings showed a decided falling offdue to the disturbing influences accompanying the Presi-dential election), there is an increase in the total of 39 per cent.New York Stock Exchange share transactions for the weekreached a market value of |127,768,000, against f56,800,000for the same period a year ago.
they exhibit an increase over the same months a year ago o10 -4 per cent.
i !»62:fl.ll«i 00 «.o-27ji4i.oeo' »4«l.n 2.-i'-.0 (387,7W.27» ««•*
»i2,<7o..':0o (ir.,'--—•-.s
(lO.xii^.ilSO f : ;
(sas.Srti)
8.835.500,1X10 2.w:\ r JOeI3.471.3il0, (811 40r.rt2j,s32«4
l.6a4.835,7)3;l,S4e.l8n,00.'> 8Se.
19.068.685.9101
+18 S
As our statcmfnts from week to week have indicated, the ex-changes for ihe monlhof Octoberreach avery large afrgregaie.In fact the total for the whole country exceeds that for thesame month of 1884 by |953,574,387, a gain of 27 3 per cent.The ten months c.l the present year exhibit a decline from thecorresponding peiiod of last year of 14-3 per cent, but out-Kide of New York the falling off reaches only 4 per cent.The imj.rovement in exchanges dates back to the first of July,and taking the figures for the four months since that time
Our telegraphic returns of exchanges for the five days areof an exceedingly satisfactory character. At New York,where the figures cover only four days, there is a consider.ibleincrease over the figures for the preceding five d lys and atthe other cities large g-iins are the rule. Compared with 1884the aggregate records an excess of 47-7 per cent, and with NewYork excluded the margin in favor of this year reaches 19*5
per cent.
New Yorkaalaof StMk (ika.)
BostonPhlladaiphto.. .
Baltimore.
C!hloaKO
St. Louis
New Orleans...
no* Day Eniing Sov. 6.
1885.
Total
Balance. Country*
Total all
OntsidA Vow T'lr)!
(640.606.687
(2.0<S.58tl' 77.608,201
48,541,668
10,780,280
48,308,000
13,131,358
g.494,439'
tS18,668,568j
50.793.U1I
»8«ll.41V>.'illfl[
^•^ ,•<.>.-„)...,>->
1884..
|P<r Oml
(3»2,400,I66| ^4)381851,1611 (+1380
saesB^ssI -fso-i
87.7S7,810l
lI.e04.84Sl
86,01-2,847
18,82-1,678
9.g90.&a3
(359.978,686'
49,lie,8»3|
(6(19.090.594
.21rt.«fli>.428
+886-9-4
+846+8-4
+11+61-*+8-4
jH1-7_"+i4-3
SCyiKnd'gOet. so.
IMiSl \PtrOm»
(594.601.7Bt: -(ftS-IV
(1.876.544)^ (+144-8)
eS.fflS. 199; +31-1
8».910.a-S,
8.606.880
4O.«O8.0a«11 AA'i OOl'ii.«e3.884:
0,300. ID4|
'tra8,«2«,«oi|
62,5aS.49T{
+81-0-»»
+ 8-7
+iri
+4»i
(881,188,
J8.497I +14-1
i«,90a! +^4ir7
,8lWM1106t <-17-S
* Jkstuuated on the baaie ol the laat weekij fMorBS.
506 THE CHRONICLE. [Vol. XLI.
THE FINANCIAL SITUATION.The tendency towards a closer market for money was
further developed this week, though the extreme fluctua-
tions for bankers' balances are not a measure of the
change, but evidence rather of manipulation which always
accompanies smaller reserves and a hardening in the rates.
The feature has been a rise on call at the Stock Exchange,
Wednesday, to 10 per cent, at which small amounts were
loaned. That is the highest figure touched since the last
week in June, 1884. In the present case, however, the
news of the flarry, which quickly spread, made the supply
BO abundant that loanable funds were soon oSeted at 2
per cent. In the meantime a few of the banks and at
least one banking house succeeded in placing round amountsat 6 and 7 per cent, thus making the average for the
day 4 per cent. On Thursday loans were renewed in the
morning at from 3 to 4 per cent, but in the afternoon the
supply became very plentiful, bringing the average for the
day down to 2| per cent. Yesterday the fluctuations
were less important, but the day's average was the same.
While the upward movement on Wednesday was, as
stated, exceptional and in a sense strictly artificial, it
should be remembered that such spasms are only possible
and accompany every occasion when money is growing in
activity, and to that extent, therefore, are a natural
symptom of the changing situation. Furthermore the
decided relief the market since then has experienced, is
also exceptional, due in good part to a special cause. It
seems that on Wednesday, under orders from Washing-ton, the Sub-Treasury transferred two million dollars in
legal tenders, and on Thursday transferred $2,145,000more, to our Clearing House banks in exchange for the
fractional silver the banks took from the Treasurer aboutthe 28th of July last. The total originally taken was$5,915,000, but the banks have since then drawn about$600,000 of the amount for the use of their customers, so
there seems to be something over a million dollars left
which will probably speedily be arranged, if it has notalready been. The importance as a relief to our moneymarket of this transaction is, that it made available thatamount of funds which, although under the ruling of theComptroller of the Currency was all the time counted in
the reserve, was not such an item as any conservativebank would freely loan upon, especially with countrybank deposits at their present high figures. It is to be eai I
further that the higher rates which have prevailed of late,
have tended to check in some measure the flow of moneyinto the interior, and that has also helped to relieve thegrowing urgency of the demand.
Our foreign exchange market has remained' quitefeatureless. The only new condition has been the upwardmovement in money in London, which has been watchedby our bankers quite closely and has made further pro-gress, the open market rate being now 2 per cent against1| per cent last week. This decided advance from a merenominal figure is in no degree due to a trade demand,but is explained by the statement that in lieu of advancingthe Bank minimum and thu3>eeking to check the outflowof gold which has been kept up for some time to theContinent, the Bank governors borrowed on consols theoSerings pressing on the market. This is of course a tem-porary expedient which may serve its purpose, but if not,will we presume be followed by an advance in the officialminimum, the open market being in a conditionnow to respond quite readily to such a movement. Thefeeling in London seems to be that in view of the criticalstate of affairs in the Balkan peninsula, of the higherrates for money on the Continent, and the low condition of
the gold reserve of the Bank of England, an advance in theofficial rate cannot long be safely delayed; this view hasdoubtless been reflected here, and has served to steady theExchange market the past week, our bankers not beingdisposed to sell liberally while these uncertainties con-
tinued. But as the Bank rate was not raised on Thursday,an easier feeling prevailed, and yesterday with a better
supply of bills rates for exchange were marked down one-half cent.
The payment this week to the banks by the Government,noted above, of over four million dollars, brings into boldrelief the remarkable change in the situation of the UnitedStates Treasury in the eight months of this administration
and especially since July last. This is so important afactor in any forecast of the future that too great prom-inence can scarcely be given to it. and the monthly figures
issued this week furnish the material for an estimate of
the work accomplished. The significant feature to benoticed is, how closely the character of the revenues hasresponded to the changes made in management, the
results quickly shaping themselves so as to conform withgreat exactness to the calculations of the officials insti-
tuting the changes. The Government's embarrassmentat the start was two-fold
; it could neither getsilver out nor keep it from coming in
; so
that the conversion of the Treasury assets into
silver wholly was only a question of time, per-
haps merely of a few months. Our readers know howthis situation was reached, but as the remedies used andthe results secured form such a simple, graphic illustration
of correct principles applied to currency derangement, wecannot help repeating the facts. The embarrassment grewout of the forced issue of silver certificates, tha't is payinga premium (the cost of exchange on some Southern, West-ern, or Eastern city) to any one who would deposit goldhere and take an order payable in certificates at such city.
By this means the Secretary of the Treasury had on thefirst of last January got into circulation of these certificates
a net of about 115 millions, and they were being turnedback on the Government to such an extent that over 41per cent of its entire revenue was being paid in them,thereby converting its assets into silver so rapidly that
there seemed no escape from silver payments. Therelief applied was first to stop this forced issue. Everyone could obtain silver certificates as readily as before
but the payment of the premiuaa, that is inducement for
taking them, was discontinued. Under that process the
amount outstanding has decreased each month, the total
being on the first of November about 9,3 millions net
against 115 millions on the first of January, while the
revenue has been changing until for two months now it
has become almost wholly gold again. We give belowour usual table of the kinds of currency our monthlycustoms receipts have been paid in at New York for
three years, which brings out all these facts clearly andforcibly.
MONTHLT BE0KIPT8 OF C08TOXS DITTIB8 AT NEW TOBK.
April
May
June,
1883
1884
1885
1883
1881
1886
1883
1884
1883
PAYMENTS MADE IS—
Sold.
Amount.
t996,000
244,000
91,000
386,000
312,000
69,000
445,000
800,000
86,000
11-0
2H0-9
4-8
3-4
0-8
3-8
810-7
V. S. Nota.
Amount.
f634,000
1,344,000
1,946,000
554.000
1,364,000
l,78i),000
045,000
8,002,000
3,811,000
P. Ct.
Oold CeHificata
6-9
13-7
19-6
6-8
14-7
18-8
6-9
21-3
333
ilmount.
t
6,085,000
5,5r3,000
3,813,000
5,074,000
4,331,000
4,087,000
9,466,000
3,784.000
3,07«,000
P. at.
6l5-0
5fl-7
33-3
62-2
46'tf
430
69-5
40-8
320
SUver Certijlc*9.
P.Ot.Amount.
t1,533,000
2,»43,0D0
4,120,000
8,131,000
3.285,000
3,565,000
2,765,000
3,^)48,000
3,276,000
17-1
27-0
41-3
96-2
35-3
80-3
39-4
S4-0
NOVEMBTO 7, 1885.J THE OHKONICLE 507
PATMRNTS MADB IH-
OoM. V. S. Ifota. OoM OvrtiMattt^ mv4r C«r«Ve'i.
.linvninl. P.O. imount. P. a Amount. P.Ct >4mount. P. 01.
jmr. 18RS
18W
•88a,000
S0«,000
«3,000
8-8
1-0
0-8
704.000
8,888.000
6.408.000
6-4
17-8
48-8
•11,678,000
0,818,000
8.488.000
70-8
48-8
888
t1,900.000
4.261.000
8,790,000
18188'4
838
A HIT., 188a
1884
1836
880,000
109,000
80,000
87180-8
SOI.000
8,4MI.fl00
0,0711,000
81lOB886
0,734,000
6,978,000
8,880,000
73848-7
478
8,888.000
4.104,000
1,747.000
ITO
13-8
Sspt.. I88S
1884
188D
886,000
193,1100
81.000
8*1-6
0-7
I
800.000
1 4,183,000
8,180.000
61S4-5
8Sl»
0,884,000
8,897,000
7,718,000
77-7
88-6
688
l,fl88,00o| 18'tl
8.704.000 31 -4
1.190,000 9-8
Oo«., 1888
1884
1886
847.000
183.000
86.000
8-0
1-8
0-8
606,000
4.3110.000
1.811.000
4842-8
19-9
8,808.000
8.468.000
1 7.889.000
76-8
237710
1.008.000
8.841.00)
1,816,000
18-4
88-8
11-8
That is to say, the foregoing shows, whereas last year
the revenues continued for the corresponding months to
bo a third or more in silver, and from that rising subse-
quently for one or two months to 42 per cent silver, this
year during the last three months (for not till then had
the new policy become effective) they have been, only
about 13 per cent silver in August, about 10 per cent in
September, and about 1 1 per cent in October.
But that was not the only change the Treasury Depart-
ment made. It also stopped issuing bills under five dol-
lars, so as to get its silver into active use. As the coin-
age of dollars at the rate of two to two and a half mil.
lions a month was all the time in progress, of course it
was desirable that that amount should be made available
and not be idle. Here also it has been equally successful in
reversing the current, having for the last two months
not only got out its entire silver coinage, but in the same
period actually further reduced its aggregate holdings o^
standard dollars and subsidary coin nearly 2 million dol-
lars. Now turning to the gold account which was and is
really the objective point (and in that we include legal
tenders as the equivalent of gold), it is found
that the net over and above the hundred
millions legal tender reserve, which was $39, .392,000 in
May, .$39,302,000 in June, and $35,760,000 in July, has
been gradually increased since the last mentioned date
until on the Ist of November it reached $69,888,000—j^nd
what does that mean ? It means an entire restoration of
public confidence in the ability of the Treasury Depart-
ment to sustain itself ; it means the removal of a fear
that was oppressing all our industries ; and it also affords,
as we have already stated, a most forcible illustration
of the wisdom and efiBcacy of sound principles applied to
currency issues.
With such a change in the financial condition of the Gov-
ernment, from a state of threatened repudiation to one of
complete security, it is no wonder that our people have be-
come trustful and gone to work again. This improvement
in our industries is getting to be more and more general, if we
may credit the reports"we are receiving. There has to be sure
been a decided lull in some departments during October,
but other trades have in the meantime shown greater life,
so altogether progress appears to be making, and if it is not
checked by some foolish action in Congress, there seems no
reason why it should not further develop. We have this week
prepared our monthly statement of clearings, which even
after making a fair estimate for, and deducting the transac-
tions of a purely speculative origin, still leaves legitimate
business represented by a very considerable increased move-
ment; and what is peculiarly favorable is that the increase
is a progressive one, not on'y in its comparison with last
year but also in its relation to previous months of this
year, as will be seen by a reference to the following, from
which it appears that while in August the exchanges were
2,9S4 millions, in Saptember thay were 3,112 millions and
Total 10 m'l 181.0811,778,710 87.800,688.6081-14 3! lU,3444<17.383'lD,779,471,44i8|~^^
Strength, buoyancy and great activity have also beenthe distinguishing features of our Stock Exchange mar-
kets the past week. There ha« been no let up in the
movement towards higher prices. On the contrary, each dayseems to add new xeat to the speculative fever. Taerehavebeen reactions, one of them very much in the nature of aslump, and yesterday there was some weakness at the
close, but the ardor of the operators for higher prices haa
not been dampened thereby. Among the special atimulanta
this week have been of course the meeting of the trunk
line presidents for the adoption of the new pooling agpree-
ment, and the ratification by New York Central stock-
holders of the lease of the West Shore road. The details
of the pooling arrangement were not fully known, but the
Street did not bother itself about that ; it was sufficient to
know that apparently there was a unanimous determin-
ation to let no obstacle stand in the way of a satisfactory
and lasting agreement.
The feature of the new arrangement to which we should
be inclined to ascribe most importance is the proposition
to make the trunk lines responsible for the action of their
Western connections. It is these Western connections
that have caused all the trouble heretofore. They would
cut rates, and the Eastern lines would be withoit
remedy. But it will be remembered that at
the previous meeting of the Presidents, the latter
part of September, when the advance in rates to gointo effect early in October was approved, very stringent
resolutions were passed pledging the roads not only to
maintain the tariff, but to refuse to pro-rate with any con-
necting road that should cut rates, even if the full amount
of the cut be borne by such connecting road itself. Such a
step was a necessary preliminary to any effective arrange-
ment for maintaining rates, and the trunk lines were also
forced to it in self-protection. Having this power, the
Eastern lines are now, it would seem, to be held account-
able for all transgressions of the Western lines. We need
hardly say that the connecting roads are to have representa-
tion on the Joint Committee, which will be made up of
their representatives and the members of the trunk line
Executive Committee, but great care apparently has been
taken to keep full control of the matter in the hands of
the trunk lines, for it is provided that in the event of a
failure of this Joint Committee to agree, the Executive
Committee alone shall decide on appeal.
It is not the trunk-line group of stocks, however, that
has been most prominent in the rise this week. It is
rather the stocks of roads in the Northwest. These have
shown remarkably favorable earnings for the last week of
October, and under that stimulus their shares have been
pushed up in a noteworthy manner. St, Paul was made
the special feature, and advanced to 95J, from 88^ at the
close the previous Friday, the close yesterday being 94|.
This road had quite large earnings in October last year, its
receipts then having increased $8,668 at a time when other
roads were falling materially behind, and now has the
large gain of $352,204 additional. With the rise in St.
Paul all the other^ranger stocks sympathized, though not
508 THE CHRONICLE. [Vol. XLI.
in the same degree. Union Pacific was also higher, on
reports of large purchases for foreign account. Manhat-
tan Elevated was aided by the announcement that some
new names were to go on its directory. Western Union,
after an early rise, suddenly developed great weakness, but
the course of that stock has latterly been very erratic, and
its fluctuations do not exert much influence on the general
range of values.
The following shows the receipts and shipments of gold
and currency by the New York banks during the week.
Week endlmi Nov. 0, 1885.
Currency.Gold
Total gold and legal tendera..
If. T. Banks.
tsio.ooo
1810,000
Shipped by
N. T. Banla.
11,100,000
tl,100.000
IfU Interior
Movement,
Loss.. 1200,000
Loss.. 1290,000
The above shows the actual changes in the bank hold-
ings of gold and currency caused by this movement to and
from the interior. In addition to that movement the banks
have lost $.500,000 through the operations of the Sub-
Treasury. Adding that item to the above, we have the
following, which should indicate the total loss to the New
York Clearing House banks of gold and currency for
the week covered by the bank statement to be issued to-day.
Week endlJig Nov. 6, 1885. Into Banla. Out 0/ Barika. Net Change in
Bank Holding.
Banks* Interior Movement, as above tsio.ooo
4.900,000
tl.100.000
5,400,000
Loss. t290,i)00
Ldss. SOJ,000
Total gold and legal tenders.... 15.710.000 t6.DO0.000 Lobs. t'DO.nOO
i#. The Bank of England reports a loss of £110,134 bul-
lion for the week. This represents £64.000 sent abroad
and £46,134 sent to the interior. The Bank of France
gained 4,410,000 francs gold and 1,073,000 francs silver,
and the Bank of Germany since the last return increased
3,800,000 marks. The following indicates the amount of
bullion in the principal European banks this week and at
the corresponding date last year.
Bank of England ......
Bank of FranceBank of Oenuany
Total this weekTotal prevloos week .
.
Xov 5, 1885.
ffoM.
£20,637.397
46,078,310
7.425.000
Silver.
43.772.524
22,275,000
74,140.913 dR,0t7,524
74,019,033,65.930,015
Nor. 6, 18»^4.
Bold.
£19,298,157
42,079,8006.839,7,iO
68,217,707
68,814,791
Silver.
41,111,670
20.520,230
61,631.920
61,558,572
The Assay Office paid .$77,319 through the Sub-Treasury
for domestic bullion during the week, and the Assistant
Treasurer received the following from the Custom House.
Duliet.
Oontitting of—DaU.
OoM.U.S.Note*.
Qold,
Oerliflc't.
Silver Oer
tifleate*.
Oct. 30•' 31
Nov. 2" 3.
8295.958 41
314.057 45308,376 01
$5003,500
5,000
Holi
$45,OiK>
74,00081,000
$209,000233.000176,000
$ll,0'l(.
43,00045,00i'
•' 4.
» 6.
511,650 20430,672 6 .
2.0J0
2,50075,000115.000
333,000245.000
50,0O
67,000
Total «1,R 0,714 67 $13.,"i00 $390,000 $1,246,000 $246,000
Included in the above payments were $8,500 in silvercoin, chiefly standard dollars.
THE REDUCTION OF THE PENNSYLVANIARAILROAD DIVIDEND.
The action of the Pennsylvania Railroad managementthis week, in reducing the semiannual dividend from 3
per cent to 2 per cent—that is, from 6 to 4 per cent perannum—will, we think, be everywhere commended.Though earnings thus far in the year have not been favor-
able, the financial position of the company is such that it
could unquestionably have continued the old rate of diatri-
bution. The temptation to do so is always strong. Pridein maintaining 6 per cent dividends, especially at a time
when other companies come down to merely nominal figures,
or else pass their dividends, naturally proves a strong
influence to resist. But the managers in this case
were evidently not amenable to such considerations, being
in their action governed by what they deem best for the
company's interests, regardless of sentimental considera-
tions.
That such a policy commands favor and inspires public
confidence is evident, too, from the way the reduction in
the dividend was received on our Stock E.^cchanges. The
event was unexpected, so when first announced, Monday
afternoon, it caused a sharp fall in the shares of the road
in the Philadelphia market, in which decline the NewYork market sympathized. On Wednesday, however,
(Tuesday having been election holiday), the tempo-
rary adverse eSects had already passed away, there was a
decided recovery, the New York market opened active
and higher, and the reduction was universally accepted as
only another proof of the caution and prudence with
which trunk-line people are conducting their affairs at
present. The same view apparently had been taken in
the London market, where so much of the Pennsylvania
stock is held, and the comparative equanimity with which
the occurrence was regarded there, imparted additional
strength to our own market, and increased the feeling of
confidence so generally entertained in the situation.
Time was—and it dates back only a few short months
—
when an event of this character would have been cited as
just one more circumstance indicating the inherent weak-
ness of things, and have precipitated a heavy and con-
tinuous decline in values. But the conditions have
changed, and perhaps also we are learning to look at
such matters in their proper light. In London, even
more than in the United States, it is beginning to be
understood that a period of depression represents not a
normal but an abnormal state of industries, that the
results of such a period must of necessity be poor, and
cannot therefore be accepted as a guide to what may b&
accomplished in good or even average periois. Moreover,
that at such unpropitious times when profits everywhera
are cut down to small dimensions the railroads cannot
be expected to stand alone ia keeping up the old
return on their capital, and that to reduce dividends
therefore as income diminishes, striving not to con-
ceal the presence of business prostration, but to
forestall its continued adverse effects and be pre-
pared to meet them, is the oaly wise course. It is the
companies that go on paying unearned dividends that give
occasion for distrust and uneasiness. This phase of the
matter has at last dawned upon the public mind, and
probably because it has, as well as because future pros-
pects have improved and railroad officials have apparently
determined that the waste of substance which for so long
has been going on as the result of reckless and continuous
wars of rates, shall be stopped, is it, that lower dividends
have lost their power as a depressing influence.
The reduction of dividends by the Pennsylvania
Railroad has been gradual. In both 1882 and
1883 it gave its stockholders 8^ per cent per annum,
not to speak of privileges to take at par the com-
pany's shares then selling at a premium. In 1884 th&
semi-annual dividend which in May had been 4 per cent
as usual, was in November reduced to 3 per cent, and thus
from an 8 per cent property the Pennsylvania took its
position as a G per cent stock, though owing to the 4 per
cent paid in May the actual distribution for the calendar
year 1884 was 7 per cent. The 3 per cent semi annual
dividend was continued in May of the present year, but
now this has given way to 2 per cent. Lender this latest
NOTEMD£R 7, 188I5.J THE CHRONICLE. .5(9
»^
change tite dividend for 1885 will amount to 5 per cent,'
tkough on the basis of 2 per cont semiannaally the rate
per year will of course be only 4 per cent.
It is interesting to note how, one by one, forced either
by necessity or impelled by prudential reasons, the
leading Kastern trunk lines have been obliged to lower
dividends or pass them altogether. The Michigan Central
and the Canada Southern were the first to suspend ; the
Lake Shore followed somewhat later, after having first
reduced its rate from a basis of 8 per cent to G per cent.
The New York Central, the staunchest of the Vanderbilts,
and whose local traffic the West Shore sought to secure,
came down from "2 per cent quarterly, first to \} per cent^
then to 1 per cent, and now has paid two dividends of
only one-half of one per cent. The Erie has of course
long since discontinued the dividend on its preferred
stock, and is besides in default on three coupons of
the second consols. The Delaware Lackawanna &"Western last month made its quarterly dividend
1 J per
cent, instead of 2 par cent as heretofore. The Pennsyl-
vania, as already said, has reduced to 2 per cent semi-
annually. Only the Baltimore & Ohio among the trunk
lines remains paying the old rate, which in its case is ten
per cent per annum, but here the capital is very small
—
less than 15 millions—while that of both the Pennsylvania
and the New York Central is six times as much.
Some of our readers will want to know what the posi-
tion of the Pennsylvania road will be on the basis of the
reduced dividends now declared, so it may be worth
while to devote a little space to that part of the subject.
Of course, in the case of such a large system it is mani-
festly impossible to cover the multiplicity of minor items
that may aSect the main result. These are not within
the range of our information, and if they were it would
merely confuse things to introduce them, while the prob-
ability is that the changes on one side would in great
measure simply counterbalance those on the other. Weshall confine ourselves therefore to the larger and more
superficial items in which material alterations are apparent.
Foremost among these is the heavy decrease in net earn
ings that the monthly statements show to have taken
place in the first nine months of the year. This decrease
amounts to $2,321,289 on the Eistern lines, and to $626,-
059 on the Western lines. The company has always fol-
lowed the plan of treating the Western lines separately,
and we shall follow the same plan here, referring to the
result on these lines again further on.
With a loss of $2,321,289 on the nine months" opera-
tions—that is, compared with the same period in the pre-
vious year—the question occurs, of course, what will b-,
the result for the remaining three months. We hold to
the opinion that in these three months there will be no
further loss, but rather a gain, and for three reasons: (1)
It is only recently that the efforts at economy have begun
to yield fruit, and the net for September as a consequence
showed tne first gain in thirteen months. (2) The active
endeavors to enforce higher rates date from the beginning
of October, that is, from the beginning of this three months
period. (3) In these same three months last year the ex-
hibit was unusually poor, and net on the Eastern system
then decreased $761,912 from the total of the previous
year. It would seem safe to conclude that part of this loss
will be recovered, and estimating this roughly at half a
million, the decrease of $2,32 1,289 above would be reduced
to about 11,821,000. But during the year the company
put out the remaining four millions of the 4^ per cent
collateral trust bonds, and this would call for au increase
of $180,000 in the interest account for the year, which
added to the $1,821,000 loss in earnings would give a total
Ion of t2,001,000. For the Soath PenniylvanU parohaMrecent testimony showed the company iuned $.^,000,000
of 3 per cent Bedford & Bridgeport delxinture bonds, batthe interest on these we may auppoee will not oount in the
present year. The income from the va«t amount of leea-
rities which the Pennsylvania holds, is an item almoet uimportant as the net earnings from traffic operationa.
This income comprises agreat variety of receipu, and mayvary either in the one direction or the other. In the
absence of definite information it is perhaps best to con-
sider it unchanged from last year.
Starting with this loss of two millions, what are the
offsetting items on the other side of the account ? In
1884 the dividend was 7 per cent and the amount paid
out for the same $6,560,787 ; in the present year the
dividend will be only 5 per cent and the amount required
$4,738,892. Thus there will be a saving to the companyof $1,821,895. But besides this, the trust agreement of
October 9, 1878. has been so far modified that instead of a
fixed annual requirement on that account (in the nature
of a sinking fund) of $600,000 per annum, the amoiutwill hereafter be limited to " one per cent of the net
income of the company before payment of dividend to the
shareholders," which on the basis of the 1884 operations
would have called for only $86,000. With smaller net in
1885, the call is not likely to be larger, and hence there
will be a saving here of $514,000, to be added to the
saving of $1,821,895 on the reduction in the dividends,
making a total saving of $2,335,895. The loss from earn-
ings and increased charges we found to be about two
million dollars, so that the net saving would be over
$300,000. As on the 1884 operations the company had a
surplus of $1,440,425, it follows that on tiiis basis there
would remam on the 1885 operations a surplus of IJ mil-
lions. Recapitulating, here is the result in tabular form.
Surplus In 18''4 almve all charK(>« and 7 per cent diTidendH.. $l,tl0,i25
Savliift of 2 per cent la dividends In 1885 $l,S21,89o
Saving on trast agreement of Oct. 9, 1878 S 4 ,000
$2,3jS.81>iLoHs In net eamlngfi nine montbs.... $2,320,000
Gstlmated gain last three monibs 500,000
Net loss 81,820,000
Increased Intereet 180 000
Total $-2.000.00J—2,000,000— 335,895
Surplus for 1885 above 5 per cent dividends $1,776,000
The above is not presented with an idea of furnishing an
accurate forecast of the year's result, but simply to a£ford
an approximate indicuion of the position of the road under
the lower dividends and other recent changes. If the in-
come from securities should prove less than last year, to
that extent would the above surplus be diminished. In
like manner would it be diminished if the estimated gain
in net during the remainder of the year should be reduced
below $500,000. On the other hand, if either item
should be greater, so also would the surplus given.
The accoun'-s for the Western system, as already stated,
are kept separately, but the two systems are so closely
bound together tiat it seems the result on the Western
should also be taken into consideration. To ihe extent that
the dividends on the Pennsylvania Company stock (all the
shares of which are held by the Pennsylvauia Ridroad)
no longer appear in the income from investmeuta, the
result of the Western system is already included, bat any
deficiency on that system below the amount needed to
meet its own charges is not so represented. In 1884 there
was a deficiency of this kind of $861,891, Thus far in
1885 the deficiency is $1,287,918, or $600,000 more than
in the same nine months of the preceding year. There" is
a probability that the remaining three months will give a
better result. But at any rate the margin of surplus
510 THE CHRONICLE. [Vol. XLI.
above on the Eastern lines is ample to take care of the
whole amount of the deficiency, even if the increase of
^600,000 shown to date in it is not reduced. The dispo-
sition among the Pennsylvania officials, however, is to let
these Western lines stand all by themselves, and not com-
bine them with the Eastern lines.
COTTON CONSUMPTION AND OVERLANDMOVEMENT TO NOVEMBER 1.
"We present our readers to-day the usual statements of
&c., bringing the figures down to the first of November,
and embracing the first two months of the cotton crop
season in the years 1885, 1884 and 1883.
OVEBLAND MOVEMENT TO NOVEMBER 1.
There has been a very free movement of cotton by rail
during October, the gross shipments reaching the large
total of 159,538 bales and exceeding by 48,447 bales
those for the corresponding month of 1884, while in com-
parison with October 1883 the increase is 38,894 bales.
The shipments via St. Louis and over the Illinois Central
and Jeffersonville Madison & Indianapolis railroads
continue to show large gains over preceding seasons, but
on the other hand the Cairo & Vincennes records a
further falling off. The net movement also exhibits a
substantial increase in comparison with former years, the
total for October being 120,246 bales, against 85,883 bales
for the same month last year and 107,624 bales in 1883,
the excess over the former reaching 34,363 bales and
over the latter 12,622 bales. For the season to Novem-ber 1 in the three years the details are as follows :
OVERLAND FROM SEPTEMBER 1 TO NOVEMBER 1.
Blnce Seplember 1 Shipped—Prom St. Louis
Over Illinois Central
OverCaJro & VincennesOver the Mississippi Riyer, above St. L.
Over Evansville & Terra HauteOver Jeffersonville Mad. & IndianapolisOver OMo <fe Slississippi BranchOver Louisville Cincinnati & LexingtonReceipts at Cincinnati by Ohio Elver. .
.
Receipts at Cincinnati by Cin. South'ruOver other routes
Shipped to mills, not Included above..
Total gross overlandDeduct—
Receipts overland at N.Y., Bo8ton,&o.Shipments between (or South from)Western interior towns
Shivmenls inland and Southern Spin-ners' Takings (not otherwise de-
ducted) from—GalvestonNew Orleans
MobileSavannahCharleston
North Carolina portsVirginia port«
Total to be deducted
Leaving total net overland*
1885.
77,518
38,8449,562
5,008
8,039
12,022
1,408
7,845
3,148|
11,613
12,074
743
1884.
187,844
7,573
19,573
2361,546
3,275
1971,248
152888
41.20618,54*<
29,895
5,063
8,817
4,932
2,10el
6,496
837.665
9,328
357
134,505
23,919
6,211
1883.
40,642
10,116
21,26017,557
1,897
4575,988
18,193
2,709
12,783
12,380
869
7653,008163769170
1,226
34,688
153,156
36,231
98,274
144,849
14,338
614
2,931
5
102
17,990
126,859
* This total includes shipments to Canada by raU, which sinceSeptember 1, in 1885 amount to 3,014 bales, in 1884 were 2,764bales, and in 1883 were 5,923 bales.
BECEIPTS, EXPORTS AND SPINNEBS' TAKINGS.
Eeceipts at the ports during the month have been less
than during October last year, but exhibit a small excessover the month of 1883. For the two months toNovember 1, however, there is an increase over bothyears, but in comparison with 1884 it reaches only 5,436bales, while the gain over 1883 is 51,362 bales. Theforeign exports, on account of the full movement duringthe closing week, were a little larger in October, 1885,than in either of the two preceding years, the month's
total being 590,016 bales, against 548,150 bales in 1884
and 478,054 bales in 1883; for the season to November 1
the excess over last year is 37,373 bales, and over 1883
reaches 100,288 bales. This export movement for the
week ending October 30 also encroached very materially
upon the stocks at the ports, so that combined with the
interior towns the total stocks are slightly less than onNovember 1, 1884. Below we give our usual table of
receipts, exports and stocks.
Movement from Receipta Receipts EXPORTS SINOB SEPT. 1, 1885, TO-Sept. 1, 1885 to Stocks
Nov. I. 18t6. Sept. 1, Sept. 1, OreatPrance. Conti-
Total 1885 1,441,886 388,869 68,048 847,428 702,345 618,188
Total 18S* 1.435,830 445,088 88.468 191,429 664,S72 688,283
Total 1883 1,389,904 881,978 103,141 236,940 602,057 737,952
• Oreat Britain exports include to ttie Channel.
Using the facts disclosed by the foregoing statements,
we shall find that the portion of the crop which has i-eached
a market through the outports and overland, and the
Southern consumption since September 1, this year andthe two previous years, is as follows.
Receipts at the ports to Nov. 1 bales.Net shipmeu ts overland durmg same time
Total receipts bales.Southern oonsumption since September 1.
Total to November 1 bales.
1885. 1884.
1,411,266 1,435, «3ii153,156 98,274
1,594,422 1,534,10160,000, 50,000
1,654,4221,584,104
1883.
1,389,904126,859
1,516,76339,000
1,575,763
The amount of cotton marketed since Sept. 1 in 1885
is thus seen to be 70,318 bales more than in 1884 and
78,659 bales more than in 1883. To determine the portion
which has gone into the hands of Northern spinners during
the same period, we have prepared the following.
Total receipts to November 1, 1885, as above bales. 1,654,422Stock on hand commencement of year (Sept. 1, 1883)—AtNorthem ports •... 108,225At Southern ports 21,314 —129,539At Northern interior markets 2,882— 132,421
Total supply to November 1, 1885 1,786,843Of this supply there has been exported
to foreign ports since Sept. 1, 1885. 702,345Less foreign cotton Included... bales. 776— 701,569Sent to Canada direct from West 3,014Burnt North and South 683
Stock on hand end of month (Nov. 1, 1885)—AtNorthem ports bales. 129,406At Southern ports 488,782—At Northern Ulterior markets
Total talclngs by spinners since September 1, 1885. .bales
Taken by Southern spinners
Taken by Northern spinners since September 1, 1885Taken by Northern spinners same time in 1884
618,1884,478—1,327,937
458,90660,00 J
398,906297,475
Increase in takings by Northern spinners this year..., 101,431
The above indicates that Northern spinners had up to
November 1 taken 398,906 bales, an increase over the
corresponding period of 1884 of 101,431 bales and an
excess over the same period of 1883 of 5,112 bales.
AMOCNT OF OBOP NOW IN SIGHT.
In the foregoing we have the number of bales which
has already been marketed this year and the two previous
seasons. An additional fact of interest__is the total of the
crop which was in sight on November_l, compared with
previous years. We reach that point by^adding to the
NovKMnER 7, 1885.J THE CHRONICLE. 511
above the stock remaining at that date at the interior
towns, loss stock held by them at the beginning of the
season. In this manner wo find the result for three years
on November 1 to be as follows.
Total innrkoted, aa above bales.Interior Dluoka In exoeMotSept. 1
Total In siRht bales.
1883.
1,664,42a192,000
1,S4B,422
1884.
1,584.104138,843
1.722.947
1883.
1,575,768200,000
1,775,763
TJiis indicates tliat the movement up to November 1 of
the present year is 123,475 bales more than in 1884 and
70,650 bales greater tlian in 1883.
As it will interest the reader to see what has come into
sight each month of the season during this and previous
years, wo have prepared the following, which shows the
movement for tho last three seasons.
Months. 1845. 1884. 1883.
485,552
1,360,870
413,836
1,309,111
450,047October ..'...., 1,325,716
Total 2 montlia 1.846,422 1,732,017 1,775.763
WEIOHT OF BALES.
To furnish a more exact measure of the receipts up to
November 1, we give below our usual table of tho weight
of bales. "We give for comparison the figures for the same
time in the two previous years.
Same SameTwo Months Ending Nov. 1, 1885. peri'd in peri'd in
1881. 1883.
Number of Wetghl in Averof/e Average AverageSalts. Pounds. Weight. Weight. Weight.
The above prices are—For ootton, low middling upland at New York;for printing cloths, minafactorers' prices ;'^or sheetings, agents' prloe*which are suliiJeot to an average discount of 5 per cent.
FINANCIAL JIBVIEW OF OCTOBER.
The city bank surplus declined materially in October,
and the loans increased. On the 3d of the month the
surplus reserve above the legal requirement was $41,499,-
200, and the loans were $330,759,300 ; on the 31st the
surplus reserve had declined to $23,432,000, and the
loans had increased to $344,360,800. The rates for
money, however, changed but little, notwithstanding the
great activity in the stock market, and the outside quota-
tion for call loans to stock brokers was 4 per cent, the
range on all classes of call loans being 1^ to 4 per cent.
For money at the banks, on time loans, to their ordinary
customers, the rates were higher, and about 5 per cent
was the rate for much of this class of business.
The activity at the Stock Exchange was the all-absorb-
ing topic in financial circles, and the nature of the move-
ment was well described in the Chrovicle of October 17,
viz. :" It is safe to say that the persistent buoyancy and
generally confident tone have not been matched in the
past two years—perhaps not since the disastrous 2d of
July, 1881. The important feature of the present move-
ment, in which it differs from the temporary spurts which
have so frequently been witnessed, consists in its broad-
ness ; that is, the buyers and the believers in the advance
comprise not only the strong operators of the Street, with
their following, but also a greater number of outside
investors and conservative speculators than have been in
the market at one time during the past two or three
years." The situation did not afterward materially change,
and the strength of the market was well maintained till
the close, some stocks selling at their best prices on Sat-
urday, the 31st, when the strong and confident feeling
was still prevalent.
The matters which bore upon the actual values of stocks
were rather the different negotiations pending or prot-
pective, than actual events which took place. The trunk
line agreement made gooi progress, with every prospect
of establishing a strong money pool. The status of afiaii*
between the Pennsylvania, Baltimore k Ohio, Jersey Cen-
tral, and Reading, was not definitely known, and the
activity of the two last-named was variously attrib-
uted to buying for the Vanderbilt or the Baltimore
& Ohio interest. St. Paul stock was poshed up by
the powerful Chicago clique, led by Mr. Armour.
612 THE CHRONICLE! [Vol. XLI.
The New York & New England stock advanced at
one time to 31, on reports of a probable control by the
New York & New Haven Company; but the subscription
to the $2,000,000 preferred stock by the stockholders was
not successful, only about $600,000 being taken condi-
tionally. The reported placing of a new loan on its dock
property (said to be for $7,000,000, including the old bonds
and stock) was the occasion for the rise in Erie, together
with rumors of paying or funding back coupons on the
2d consol. bonds. A new agreement between Lake Shore
or New York Central and the C. C. C. & I. Railroad
caused a sharp rise in that and in Alton & Terre Haute.
Western Union Telegraph was strong on short covering
about the middle of the month, and, later, on the reports
of an agreement with Baltimore & Ohio to advance rates.
Thus it appears that nearly all of the good things
reported were in embryo, and few had become accom-
plished facts.
The foreign exchange market was comparatively inac-
tive and did not fluctuate greatly during the month, prices
at the close being only about one-half cent lower than at the
opening. The shipments of cotton and grain were not
particularly satisfactory.
The following summary shows the condition of the NewYork City Clearing-IIouse banks, rates of foreign exchangeand prices of leading securities and articles of merchan-
dise, on or about the 1st of November, 1883, 1884 and
1885.
STATISTICAL SUMHART ON OK ABOUT NOV. 1, 1883. 1884 AND 1885.
New York Oily Banks—Loans and discountsSpecieCirculationKet depositsLegal tenders
Legal reserve,
Keserve lield
Surplus reserveHomy, Exchange, Silver—Call loansPrime paper, sixty daysSilver In London, perozPrime sterling bills, 60 days
Vnited States lionds—- 38, registered, option U. S . ..
68, currency, 18984'«s, 1891, coupon4a of 1907, coupon
Railroad Stocks—New York Central & Hud. Rlv.Erie (N. Y. L. E. & W.)Lake Shore & Mich. SoutliemMichigan CentralClilcago Rock Island & Pacificniiuois CentralChicago & Northwestern, com.Chicago Milw. & St. Paul, com.Delaware Lack. & Western . .
.
Ceutral of New JerseyMerchandise—Cotton, Middl'g Uplands.V lb.
The closing prices for the leading Government securities
on every day of the month of October are given in thetable below,
CLOSIXa PRICES 0» OOTEKNMENT SBCUSITIES IK OCTOBER, 1835.
October.41*.,1891,coup.
4i,1907,coup.
3.,opl'nTt. S.reg.
x03>s
6a,Our.,1898,reg.
October.
4i*>,
1891,coup.
is,1907,coup.
3»,
rtg.
6»,Our.,1898,reg.
123 il2ii
X 192021
123%123%
10378
6 \22\122!ll122%
2223.
123%123781237,
IO3081031*1031a
67 103^
2425
11314
8»
ii258
ii2''8
..8...
12276122'e1231a
10308
103%l(3'e103'g104
134 2627 124
124
1237;124
t22%12-1122S8124
103 H,
5?:::::::::18
28 113132930
13 31
JJ::::::::: OpenfflKhLowClos
U2J2113121121sI13>s
x03is104103 >s
IO319
J?^U3 134
134
v„ .. 8..131134
The following table will show the lowest, highest andclosing prices of railway and miscellaneous stocks at theNew York Stock Exchange during the mouths ofSeptember and October, 1885.
RANQB OP STOCKS IN SEPTEMBER AND OCTOBER.. September. . . October. ,
Closi-"^ Lou- Blah- Olosing Low- High- Olos'aRailroads. A.ug.tl. est. est. Sept. 30. eat. • - -
Albany cfe Su.')(iaeh'.a ISO'sAtchison rou.& 8. Fe ..'".." 71is
est. Oct. 31.ISO's
Atlantic &. Paclti.
Bost.&N.Y.AirL. pf 95 97Burl. Cedar R. IB No 60 60 'iiO
'
Canadian Piiciflo 45 45 46Canada Southern 36I4 35 SSI's 37'iaCedar Falls & Minn .13Central Iowa 10 16Central of N. Jersey. 4S7g 3933 5Q "ioigCeutral Paeliio 3373 35^ 391, 371^
8%916045371479103i>%3618
Churlotte C0I.& Aug " 30Ches A Ohio
Do Istpref.Do 2d pref
Chicago A Alton 132Chic. Burl. * (Juincy. Sl.JOChic. Mil. & St. Paul. 77is
Clev. A Pittsb., guar 140Col. A Greeuv., pref 38Col. H»ck.V,il. A Tol. 20 19DeLLaok. AWest'm. 101% 97Denver A R. Grande lOis 1014Dubuque A SlouxC. 65 59East Tenn. Va. A Ga. 5% 553
Do pref. 9 9Eliza. Lex. A Big SKvansville A T. H ."1213
Ft.Worth A Denv. C 19Green B. Win.A St. P 5Harlem 203
Do prafHoust. A Tex. Ceut 29Qllnols Central 5129% ISOijDo L'sed Llnelp.o 90
IndianaBl. AW 12ia 11%
41 3820% 20%
104-8 5102%146361a
lOia
ISis5969=8
557211a5%
203
'32"'
'556
51^
3i19102 la
12185961a91a
56205
2052053132
1321a isiia90 911814% 131a 13%
Joliet A Chicago 150Keukuk A D. Moines
Do prefLake Erie A West. . . . 8LakeShore 7II4lx)ng Island 75
8
7I9671473
91a743875
91a741473
829 139I8
73)473
Louisiana A Mo. Rlv igijLouisville A Nashv.. 4414 43 46:>ii issg 44Loulsv. N. A. A Chic 30 35 Ai 32Manhattan, consol... 99is 59913 10078 5100% 100Manhattan Beach Co IO14 Ilia Ilia lOiaMemphis A Gha'ston. SBia 34 38 S3Michigan Central 62 61ia 67 667a «,iitMilw. L. 8h. A West 16
Do prefMluneapoUs A St. L.. 1778
Do pref. 38 14Ho. Kans. A Texas . . 23 33Missouri Pacitlc 9273Mobile A Ohio 12isMorris A EssexNashv.Chatt.&St. L.N. Y. Cent. A Hud. R.N.Y.Chlc. A St.Loui8.
Do vref.H.Y. Lack. A West ..
N. Y. Lake Erie A W.Do pref.
N. Y. A New Engl'd.N.Y.N.H.AHartf'rd ....." 192N. Y. Ontario AW... 13ia 12isN. Y. Susii. A West . . 5
Do prefNorfolk A Western
Do prefKorthem Paoiilo 20^8
Do pref. 47 18Ohio CentralOhio A Mississippi. .
.
Do pref.Ohio SouthernOregon Short Line ..
Oregon A Trans-Con.Peo. Deoat. A E'ville.Phila. A Reading.
Rensselaer A 6ar 142Rich.AAl.st'k, tr. ct. 2 lisRichmond A Danville 70RichmondA West Pt. 29 'a 28%Rochester A Pittsb.. 514 2%Borne Water. A Ogd.. 16 18%St. L. Alton A T. H . . 29 28
Do pref 80St L. A S. Francisco 17%
Do pref. 85 31Do Istpref 82
I4219 142123
8t. P. A DuluthDo pref.
at. Paul Minn. A ManBooth Carolina RR..Texas A PacitlcUnion PacitlcVirginia Jtidlaiid
Wab. St. L. APaciflo.Do pref.Tklegraph.
American Dist. Tel..Aiuer. Tel. A Cable..Bankers' A Mer. Tel.Western Union 7019
Excess of exports over importsExcess of Imports over exports
1834.—Exports—Gold- Dora. .
.
Foreign
Total
ailver-Dora...Foreign
Total
Total exports
Imports-GoldSilver
Total
Excess of oxi>ort8 over importsExcess of impoi Mover exports
$i;il,358l20.21 Ol
$3,O7ri.9025,972.751
$151,608$1,773,531
P3?,30M
$2,705,813
$2,857,111
$2,986,116811,831
$3,797,950
940,539
$77,330
$77,350$1,.5.53,3971.776.645
$3,330,042$3,407,392
$1,477,6721,004.4 45
$9,049,6.53
$17,056,0268.485, S5T
$25,511,h83
$ 14,59 1,.536
$11,004,95113,19^,6H8
$24,8U0,e>9
$9,790,887
$34,397,6135,694,014
$40,091,627
$13,12.\2718,1 43,3!>8
$2,482,11/925,275
$il,2«8,6b9
$61,360,296
$15,081,5.529.'>24.!)06
$24;90lj,458
$36,453,838
$3.il2»<,695.-,977,577
$9.9. 6.-272
$22,062,88111 774.031
$3d,836,u62
$13,743,234$24,181,05618,875,569
$43,356,625
$386,009
$35,310,2105,737,349
$11,017,559$16,8^8,17711.332.458
$28.'2I0.63S
$69.25'!,194
$19,721.9.3213,t>»i2.123
$33,384,055$35,874,139
TOTAL MKKfllANDISE AND COIN AND BULLION.
1885.—Exports—DomesiioForeign
TotalImports
Excess of exports over ImportsExcess of irapiirts over exports
1881.—Exports—DomesticForeign
TotalImports
Excess of exports over importsExcess of imports over exports
$18,7.'>7,13l1,784.84
$50,541,99154.10.^.700
$'3'.>'67,715
$35,811,1622,935.7201
$5873I>,S'(2!53.841,280!
$4,795,6021
$ib2 5.;6,l»«l:$726.7iv,i0326.154,833 32,il29.«02
$.',OH.inl,800 $"5!>,i^> I 1 .90 >
455,994.176 613, '107. •'85
$52,687,U:i4 $l.l'J^73l,O^J
$542,965,1 54 $772,206,02325,953^163 32.826.889
*o6-'.»18~lT7 $S05,il3.', '12
514,810.585 6!H.491,120
$51,107,732 $113,538,793
The following Matomant bM tiao beea iwaad, ihowlsK, byprincipal customa dislriota, th« Ttiiuan of mwrhamU— Im-ported into, and axported from, the Unit«d 8t»tw dariait tlMmonth of Sept., 18H.f, and during the nin« montba mdodwithSept. in both lHf» and ISSi; aluothe toUt utockof K"'>dii
remaining in the United States warehouaea at ih» end of theperiod.
IMMKTS. Bxroan.
THK'Trt AN1>SIPTKMUIB, I88B. HiM monllu mdliHr Kiiu mnntlu n4tm§
The prospect of the final solution of the Eastern difficulty
seems to be as remote as ever—at all events it cannot be said
that any distinct progress has been made in that direction
during the week. But although the delay is to be regretted,
it affords opportunity for the ultimate settlement of the dis-
pute on such a basis as-shall not be easily upset. Whateverarrangement may be come to should be lasting. The Burmantrouble has not entered upon any new phase. King Theebaw,according to all accounts, retains his bellicose attitude, whilethe Indian .Government is equally determined upon the mat-ter being settled on its own lines. The political position
generally cannot be said to have appreciably altered, at least
not in such a way as to influence commercial affairs.
Sanguine hopes as to the future are still being indulged in,
founded unquestionably on the more encouraging advices
from America, A feature of some significance is that the
demand for freights is looking up. But in spite of that fact,
and of the more hopeful tone now pervading most depart-
ments of industry, the evidences of an expansion of trade are
not very distinct. Liverpool seems to be the favored spot, butwe still look in vain for an increase in the goods receipts onthe leading railways. In place of an expansion, there is in
fact a contraction from the depressed totals of last year. TheBankers' Clearing House returns, also, are quite capable of
amendment. All we can be sure of, therefore, is that satisfac-
tory obanges are now going on across the Atlantic, of which wereceive almost daily telegraphic confirmation; and thit a con-
tinuance of the movement there must swell the volume of
trade here, and possibly by the new year it will have gained
sufficient force to admit of results being clearly estimated.
Attention has at length been directed to the continued
inquiry for gold for export, and the question is again being
discussed whether the Bank of England will not soon be com-pelled to adopt measures to prevent the stock of bullion being
much further reduced. In the present state of the commer-cial demand for money, however, such action is not easily
carried out. It is argued that the Bank of England should
reduce the heavy balances unemployed in the outside marketby borrowing on consols, and thereby causing the open marketand official quotations to approximate more closely. But sucha movement would be fictitious. Quotations for money cannotbe permanently enhanced until the incjuiry for it has increased
to a much greater extent than at present. It is of course
imperative that the Bank of England should protect the bul-
lion resources, and the directors may be trusted to do so; butthey can hardly, in fairnes?, be called upon to saddle them-selves with heavy balances which there is no present chance of
using profitably. Were there any signs of financial disturb-
ance in the near future, some display of energy might belooked for ; but so far as can be ascertained there is no imme-diate prospect of the chronic quietness of the market being
upset. At present there is no inquiry for the metal fromAmerica. The sums recently taken for the Continent—about
£800,000—are no doubt in a great measure the result of the
political troubles in Eastern Europe, and must therefore be
looked upon in the light of exceptional transactions rather
than as ordinary exchange operations. The demand for
money usual at this season may be expected soon to assert
itself, and between now and the close of the year some move-ment in the Bank of England rate of discount may be looked
for; but there are no signs of any tending excitement, or anyneed to adopt more than ordinary means of precaution.
It is to be noted, in this connection, that during the past
two days some improvement has taken place in the demandfor money. Day-to-day loans, which were going begging at
J^4 per cent, have risen to ^^ to % per cent, and the discount
charge for three months' bills has risen from 1 to \% per cent.
Some rather important movements are noticed in the weeklyBank of England return. The reserve has decreased to the
extent of £457,132, the amount being £11,701,167, or fully
£1,000,000 more than at this time last year. The actual
decrease in bullion is £635,162, and the present supply of £30,-
920,972 is about £360,000 more than last year. This is a fairly
good total, but it will not bear drawing upon much further to
supply foreign requirements; and in the event of any import-
ant orders being received, the advisability of some advance in
the Bank rate will have to be considered. A decrease of
£1,626,000 in private deposits must be regarded in a favorable
light, as it shows some dispersion of balances; but the total is
NOVKMUER 7, 1886.J THE CHRONJCLE. 515atill very unwifldy, being £5,a00,000 more than at thie timeInst year, and until it ia brought within more manageableliniitB it will be difncult to substantiate the reports of improv-ing trade. The return, taken as a whole, diaoloses no indi
:ition of approaching doarnesa. If there is any considerable
iilvance, it must come through the action of the Bankdirectors.
The following return shows the position of the Bank if
England, the Bank rate of discount, the price of consolp,
the price of middlin;^ upland cotton and wheat, and the Bankern'Clearing House return, compared with the three previougyears
Messrs. Pixley & Abell write as follows on the state of the
bullion market
:
Oold-Slncoour circular of last week there have been willidrawaUfrom tlio Bank amounting to «704,000. Of tUlg auinuiit «50,000 goesto Ur.bon. Tlie receipts dining tho same I lino were *t)4.000. TUe Ger-man exclianKC liuvinK risen today, tluic Is rather less Imiuiry foroiport. Tho Inipiii t» are : From the Cape £12.<()0; from Austrnlla*58.000; from River Pliite £48.iOO; and fn.m West Indies £23,000 ;
total. £141,OiO. The Orion has taken je.iC.OUO to Buenos Ayres.•Silver, wltli a continental order, iuiproved to 47»ihd.. at which price
reocnt arrivals huve been sold , and iu the absence of supplies to hand,the market reniiiins (|ulet. The Moseile brought £5,000, and al>oiit£C0.OiO has arrived from America. The P. & O. steamers have taken£180,000 to the Kast.Mexican Dollars have remained steady at 4T9](,d.. at which rate the
unsold portion per Moselle was placed. The Moselle brousbt £20,0U0from the West Indies, and Fulda and Qeimanio brought £10,000 fromNew Yerk.
Messrs. Bothwick, Wark & Co, are instrticted to receive
Eubscriptions for |1, 7.50,000 Canada Southern Railway secondmortgage bonds the price of issue being 88 per cent. Theprincipal is re-payable in 1913.
The excitement in American railway shares has continued.
We, however, simply follow your lead. Speculators here are
very keen, but although a good business is being done, it is not
to be measured by the important advance which has takenplace in prices. It is curious that in spite of the developmentof the "bull" speculation, stock here has not become moreplentiful, but at the »ame time it must not be inferred
from this that the real investor is buying. Largeblocks of securities have been speculatively locked
up, but whether present holders will be successful in
ultimately disposing of them to the bona fide investor is
another matter. It would be idle to assume that the distaste
to American railways as a medium for investment engenderedby the heavy losses of recent years has suddenly disappeared.
There is a large class here who have had their income seriously
curtailed by the various defaults, and the confidence of suchpersons is not restored in a day. At the same time, there is noquestion that large supplies of money lying idle here wouldcome forward for the development of American railway enter-
prise were there a certainty that the lines would not fiUl into
the hands of a clique of speculators who would manipulate
the concerns solely in their own interests. Lake Shore andLouisville & Nashville have fallen on the week 1 to 3, but
almost all other issues have risen—Erie Sds to the extent of
about 6 per cent and others from 1 to 4 per cent. The marketwas weakened at the finish by realizations.
The warning which our manufacturers have received during
the week to the effect that a syndicate has been formed in
America for the purpose of obtaining concessions for the con-
struction of railways in China, has come rather as a surprise,
although it is well known that all commercial communitiesare looking hungrily on the Celestial Empire for the initiation
of such trade developments as shall compensate them for the
heavy losses of the past two or three years. It is clear that the
struggle for obtaining the necessary orders promises lo be
iKvere.
The grain trade has been wanting in activity. During the
earlier days of the week there was some slight indication of
firmness, but it was not maintained. In spite of the unsettled,
and at times wintry, weather, wheat has shown signs of weak-ness, and had sales been forced, holders would have beencompelled to make some concession. The rumors of a threat-
ened break up of the " Lull " ipeouUtion in Am«rlc«, whichhad been current for some few daya pMt, reo«iTad m o«rtoiaamount of confirmation from the weakncM of New Yorkprices. Possibly, however, this may bar* be«n In somameasure attributeblo to the advised Increase on the week of1,100,000 bushels in the visible supply. Signs of haartiMMwere also notice<l in the Baltic shipping ports, advkiea fromthem noting a decline of Is. per quarter. It ia clear,therefore, that for the moment tho position of the wheattrade ia not so strong as it was a short time ago, but thatcannot be accepted as an argument against tho ultimateestablishment of a higher Itvel of values than that nowprevailing. Imports of both wheat and flour are disttootlybelow what they were at this time last year. Duringthe past seven weeks of the penson the gross receiptswere 10,830,000 cwts., or about 1,4-10,000 cwts. less than In ubocorresponding period of last season, while the quantity onpassage is about 370,000 quarters below last year's total.The following return shows the extent of the imports of
oereal produce into the United Khigdom during the firstseven weeks of the season:
IMPOBTS.
Wheat....Barley....OaMPeasBeansIndian oom....
..owt.1985.
8.S55.2382,350.8.'>71,886.703192.593583,986
3,511.9^7Flour 1,185,8'J9
1884.9,68.'>,.586
3,211,1591,720,'«44lh0,743473,341
3,0|a,7632,177,691
1883.10,032,1052,499,0281,671,892
71,020305,609
4.4»»,U451,976,759
1883.12,746,4771,477.8«31,020,188
96,806165,356
2,440,6782,032,493
Supplies available for consumption (exclusive of stocks oaSeptember 1):
1885. 1884. 1883. 1883,Imports Of wheat, cvt. 8,855,233 0,585,585 10,632,105 12,745,477Imports of flour 1,465,809 2,177,691 1,9:6,759 2.032,498Sales of home-grown.. 6,593,605 7,516,503 6t811,500 5,925,200
Total 16,914,617 19,309,779 19,420,364 20.703,175
The extent of tbe sales of home-grown wheat, barley andoats in the leading markets of England and Wales duringthe first seven weeks of the season, together with the averageprices realized, compared with the previous season, are shownin the following statement:
1885, 1884. 1883.
Sales.At'gePrice Salei.
AVaePrtee
8aie$. ^Wheat, qrs 459.685
387,68866,614
I. d.313119 1
526,118473,92274,887
«. d.33 1
32 1
19 4
471,567331.430117,573
«. d.41
Barley 33 4OaU 20 2
Converting quarters of wheat into cwts., the totals for thewhole kingdom are estimated as follows:
Wheat owt.1885.
6,593,6051884.
7,548,5031883.
6,811,500
The following shows the quantities of wheat, flour andmaize afioat to the United Kingdom:
At present. Last week. Last year. 1883,Wheat qrs. 1,303.000 1,300,000 1,636,000 1,597,000Flour,equal to qrs 152.000 147.000 157,000 125,000Maize qra. 280,000 301,000 133,000 190,000
Ensllab Financial XIarlcetii—Per 0>bl«.The daily closing quotations for securities, Sx., at London
are reported br cable as follows for the week ending Nov. 6:
London.
Jllver, peroi dOonsolB for moneyOonsols for account
—
Kr'ch rentes (In Paris) fr
D. 8. 4i«sof 1891a. 8. 4s of 1907Canadian PacltloOhio. Mil. &8t. Paul....Brie, common stock....illlnols CentralPennsylvaniaPhiladelphia <& BeadingSew Yoirk Central
Amount on deposit to redeem nationalbank notes November 1. 1885
82,516,3404,076,245
$3,046,94?3,76.',375
$317,022,304
— 1,559,905
$315,102,899
$39,874,143
715,433
$39,158,710
•Circulation of national gold banks, not included above, $384,269.
According to the above, the amount of legal tenders ondeposit Nov. 1 with the Treasurer of the United States to re-
deem national bank notes was .$39,158,710. The portion of this
deposit made (1) by banks becoming insolvent, (3) by banksgomg into voluntary liquidation, and (3) by banks reducing orretiring their circulation, was as follows on the first of each ofthe last five months:
Deposits by— July 1. August 1. Sept. 1. Oct. 1
Insolvent bkaLtquid't'>t bksKeduc'g und'ract of 1874.
Total
745,78913,5t!9,28(;
24,788,078
39,103,153
698,58413,796,666
24,589,123
39.084,373
715,20313,774.242
24,714,133
39,203,578
68:^,34413,565,142
25,625,657
39.874,143
Nov. 1.
584,96012,778,010
25,795,740
39,158,710
CoiNAOE BY United States Mints.— The following state-ment, kindly furnished us by the Director of the Mint, showsthe coinage at the Mints of the United States during the monthof October and for the tea months of 1885:
I>eno7nination.
Double eagles..EaglesHalf easlesThree dollars. .
.
Quarter eagles .
Dollars
Total gold
.
Standard dollars...Half dollarsQuarter dollarsDimes
Total silver.
Five cents..Three cents.One cent
Total minor .
.
Total coinage.
Month of Oct., 1885.
Pieces.
182,682
365,20'J1
56
467,940
2,500,000
2,500,000
100100100
300
2.968,240
Value.
20826,820
1,926,0003
56
2,752,899
2,500,000
2,500,000
531
Ten Months in 1885.
Pieces.
693,744223,500974,877
874856
4,121
1,698,072
23,669.4S7600too
1,488,787
25,157,424
1,475,1002.400
10,070,900
9I
11,548,400
5.252.908I38.60),896
Value.
13,8 74,8802,235.0004,874,885
2,6j22.1404,121
20,993,648
23,669,437300150
148,678
23,818,465
73,75572
100,709
174,S38
44.986,649
Imports and Exports for the Week.—The imports of lastweek, compared with those of the preceding week, show anincrease in dry goods and a decrease in general merchandise.The total imports were $7,333,291, against $8,343,341 the pre-ceding week and $7,939,888, two weeks previous. The exportsfor the week ended Nov. 3 amounted to $7,816,270, against$5,714,073 last week and $6,138,055 two weeks previous. Thpfollowing are the imports at New York for the week ending(for dry goods) Oot. 29 and for the week ending (for genera)merchandise) Oct. 30 ; also totals since the beginning of thefirst week in January:
TOBBIOlf IICPOSTH AT KBW TORK.For Week.
Dry GoodsGen'lmer'diae..
TotalSince Jan. 1.
Dry GoodsQfln'lmer'dise..
Total 41 weeks.
1882.
$2,020,4336,853,523
$8,873,958
1883.
$1,839,2635,315,665
$7,634,928
$116,192,188 $107,906,411310,424,58!i 231,625,243
^426.616,776!$3B9.531.651
1884.
$1,519,8966.624,443
$3,144,339
$101,438,937261,914,901
$363,353,841
1885.
$1,902,8725,429,419
$7,332,291
$87,237,941239,601, l'J5
$326,839,136In ouj report of the dry goods trade will be found the im-
ports of dry goods for one week later.The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for theweek ending Nov. 3, 1885, and from January 1 to date-"IXPOHrw FRtM lUIW T >H< '"IK VHH w.kk
For the week...Prev. reported..
Total 44 weeks.
1882.
$290.231.554
1883.
$5,116,038295,086,371
$301,102,409
1884
*6.872,87ii266,721,870
$273,594,740
1885.
$7,816,270271,357,907
.^
1$279,174,237
-^''^if'ollo«'ing table shows the exports and imports of specieat the port of New York for the week ending Oct. 31, and
^a^dwla^ 1. 1885, and for the corresponding periods in
BXPOBTS AND IKPOBTS OP 8PBOIB AT NBW YOBK.
eoid.Hxports. Imports.
Week. S»?iceJ'an.l. Week. *»?i««Jo».l.
Slreat BritainFrance
$2,300 $317,69012,34164,461
5,530,859
267,352343,397
$
i',i2828,7341,0573.5803,72d
$426,1231,811,150
Vest Indies 1,244,566
South America111 other oountries. .
.
710,93774,743
Tstal 1885Total 1884Total 1883
$2,3003.9857,300
«e,536,!0037,934.586
568,543
9-3^,525859, =91760,267
$8,756,54014,412,65710,750,676
Silver.iJreat Britain $165,900
16,0152,3501,050
i',206
«1 1,973,218615,061143,168239,205
36.23i685,026
$
31^4631,4508.8071,210
$27,90419,569
llerman,Westlnilles 505,660
358.105>IeidooSouth AmericaAll other countries. .
.
728,29810,266
Total 1885Total 1884Total 1883
$186,515221,257352,760
tl3,69l,909ll,fi9(>,24913,071,936
$4:1,02028.469
200,257
$1,649,<;033,148,9885, 1 50,883
Of the above imports for the week in 1885, $30,703 wereAmerican gold coin and $11,251 American silver coin. Of theexports during the same time, $3,300 were American goldcoin and $3,250 American silver coin.
United States Sub-Treasury.—The following table showsthe receipts aud payments at the Sub-Treasury in this city, aswell as the balances in the same, for each day of the past week :
Receipts. Payments.Balances.
Date.Coin. Ourreney.
Oct. 31.Nov. 2." 3.
950,943 961,154,190 83
S509,408 72
1,226.104 81Holi
$163,365,184 48163,509,701 91diy
14,657,483 4814,440,862 03
" 4." 5." 6.
1,513,599 38a,'?3 1,078 8:>
1,023,152 84
5,872,966 40
1.585,708 851,011.537 95703,077 56
165.122,641 63167,036.403 33168,753,918 33
12,456,013 3610,428,792 449,629,332 72
Total... 5,070,897 91
Postal Telegraph.—The Farmers' Loan & Trust Companyhas begun in the Supreme Court a suit for the foreclosure ofthe 110.000.000 mortgage given to it in 1882 by the PostalTelegraph Company. The suit is brought at the request ofholders of more than one-third of the bonds issued on thesecurity of this mortgage. Beside the Postal Telegraph Com-pany, the Postal Telegraph & Cable Company, to which its
property was conveyed, together with C. C. Brown andThomas Fleming, judgment creditors of the Telegraph &Cable Company, and Albert B. Chandler, its receiver, appointedlast May on their petition, are defendauts in the suit.
Rochester & Pittsburg.—Mr. Adrian Iselin, who pur-chased the Rochester & Pittsburg property at the recentforeclosure sale, has it^sued a circular to the stockholders,which is given in full in our advertising columns.The President of the company, Mr. Walsion H. Brown,
says, regarding Mr. Iselin's proposition :
'• It is important that the stock should be deposited with as littledi'Iay as po.ssible, so that it can be ascertained what proportion of thestockholders are irivinu their support to the suits with which thepurchaser of the road is threatened, and what proportion are in favor oftlie reorgauizatiou as made by him."The tluaucial condition of the new companv is the following: The
b.alance of the preferred stock not absorbed by the payment of thesecond mortgiige b luds and tloatlus debt has been subscribed for at aprice which provides for thi payment of $lM7.610'if back couponswhich had not been paid, but had been bouarht, $77,i(00 of overdue cartrust bonds, and $143,685, amouut of all coupons maturing on andbefore January 1, 1886, and leaves $500,000 of uupald subscriptionssuhjpct to call ou demand. There are no other matured liabilities onthe road, the employes having l)een paid promptly on the 15th of eachmouth, and all current operating expenses being fully covered byearnings due the company."The present llxed charges of the company, exclusive of taxes, are
:
$78,0 0, interest on $l,a00.000 first mortgage bonds; $32 ),S60,interest on $f.b81,000 c(msolldated boiids; $19,770. interest on cartrust bonds; $1,400, rental of Perry Railroad ; $55,200. yearly rentalto Erie Railroad; tutal, *405,230. In addition to this there is aliability to pay 6 per cent on $178,000 income bonds, contingent on Itabeing earned by the 108 miles from Rochester to Salamanca after pro-viding for necessary improvements. These income bonds can beexchanged for tue coneolnlated bonds, two of the former for one of thelatter. Whenever this exchange is made the fixed charges will boincreased by $14,340, the interest on $ i39,000 consolidated Oonds." Twelve hundred tons of steel rails have been purchased since the
foreclosure, and arc now being laid to rei)lace the last twelve miles ofIron rails which vcre ou tiie road. Six tmndred 25-ton gimdola andone hundred box cars have been ordered, and will be ou tlie road witiiiathree mouths. Machinery which will give occupation to seventv-flvemen, will be ordered at once for the repair sliops at Bradford. Threemiles of additional side tracks have been laid in the Butt'alo yards,which entitled the company to $6u,000 consolidated bonds. These arenow on hand."Of the .$2,615,000 second mortgage bonds outstanding, all but two
have been paid according to the terms of the decree. Tliese two will bepal'' on prese tatiou to Mr. Adrian [selm. The road having been boughtfor $1,100,000, there is a deficiency judgment of about one milliondollars against the Rochester & Pittsburg Railroad Company."
—Attention is called to the advertisement of the old andfavorably known house of Messrs. Latham, Alexander & Co.,18 Wall Street, this city.
—Messrs. Charles Unger & Co., of this city, offer a limitedamount of Chicago Milwaukee & St. Paul (Dubuque Division)6 per cent first mortgage bonds due 192t). Investors will dowell to notice their advertisement in our columns today.
November 7, 18H6.J IHE CHRONICLE M7'£he ffiaubcrs' Oia^ctte.
UIVlUBNUIt.The foUowlnir dlvldonda have ronnntly tmnn itnuoiinood
WAI.I, NTKEET. FRIUAY-S P. M.The Money Market and Financial Situation.—The
occurrence of the State elections has had some hithience in
chuckinfr business, notwithstanJing the fact that the interestfelt in tlic result is so much less than last year. The nieetinfj;
of Congres.s in December will now be the next event in thepolitical world, and since the silver question is likely to comeup for early discussion, the business community will watch withsome eagerness for any indications of the temi)er of the newHouse of Representatives on this important subject.The declaration of a 2 per cent semi-annual dividend by the
PenD»ylvania liailroad Company, instead of the regular 3 percent, was imquestionably a surprise to most of the .stockholdersand to the public. But it is to be remembered that the trunkline earnings have not yet felt much benefit from the advancein rates, and the Pennsylvania Railroad in reducing its
dividend is merely taking a step which the other trunk lines,
and for that matter most of the railroads of the country, wher-ever located, felt it incumbent to take some months ago.On Thursday the presidents of the trunk line railroads met
to act on the agreement prepared for their signatures, and themeeting was continued through Friday. The chief characteristicwas the spirit of amity and harmony that prevailed. Theagreement is necessarily long and elaborate, but it was taken up,clause by clause, and it aoes not appear that any serious obstacleswere encountered. It provides for the appointment of variouscommittees, each having charge of certain special matters, andsupreme within its own department, and yet, in certain circum-stances, having the right of appeal to the next higher com-mittee, and so on, till the central body—the presidents and thearbitrator—is reached. But this latter body it is not contem-plated shall be called upon except in extreme cases. Theagreement covers both east-bound and west-bound business,and both freight and passengers, and the parties to it are todeposit a stated sum of money with the Commissioner, out ofwhich the latter is to pay any tines imposed for violation of thecompact. Perhaps the most important feature of the plan is
that each line is to be made responsible for the action of its
Western connections. These latter are to have representationon the Joint Committee, but the appeal will be to the ExecutiveCommittee, composed of trunk-line representatives alone, thusplacing the trunk lines in full control of the situation.
At the Stock Exchange the strength of the market continuesunabated. Indeed, there is great buoyancy and enthusiasm tothe upward movement, with the advance in prices almostphenomenal. Special prominence has this week been given tothe stocks of the granger roads, particularly Chicago Milwaukee& St. Paul, which is up 6 points, and one reason for this is thesplendiu record of earnings which the road makes for thefourth week and month of October.The open market rates for call loans during the week on
stock and bond collaterals have had an extreme range of 1@10per cent, though the ruling rates have been 2@3 percent;to-day the rates were 2J@3 per cent. Prime commercial paperis quoted at 4@4^ p. c.
The Bank of England weekly statement on Thursday showeda loss in specie of £110,134, and the percentage of reserve to
liabilities was 38 13-16, against 39 3-16 last week; the discountjate remains at 2 per cent. The Bank of France gained4,410,000 francs in gold and 1,073,000 francs in silver.
The following table shows the changes from the previousweek and a comparison with the two preceding years in theaverages of the New York Clearing House banks.
Kxcliange.—Sterling exchange has been in very light demandall the week, and to-day (F'riday) rates were marked downone half cent. There has been no feature to the market.Posted rates are now 4 83 J and 4 85i.
To-day the rates on actual business were as follows, via:Bankers' «0 days' sterling, 4 88}(i»4 M ; demand, 4 M|«4 85.UalileB, 4 85(a4 8''Ji. Commerciai I
"- i 81^14 SIJ. Con-
tioontal hills were: Frnnctt, S j imd .5 IIU: miob>marks, OScaO.'J and 0.'>i(a!)")J; gui ,, ;ii,/040inn<l 4'>l(7i»40l.The following were tlic rales of domentie o«c.lmn«e on New
York at the umler-mentioned cities t/>-day: rtavannan. Duringi discount, soiling i discount; Charhmton, IniylnK i disciwnt,selling par; Boston, 124 discount; New Orleans, cnmnMiretol,100®125 discount; bank, nominal; St. Louu, 3S(^S0 di*>count; Chic4igo, 40 premium.The rates of lea'linK bankers are ae foUowi
;
Norember 6.
Prime baokers'sterlliiK bills on Ijondon.
.
Prime oummerolslDocumentary noinmeroialParl»(rrNiivB).Amiit«rdaiii (Eiillderii).Pranlcfort or Bremen (rnlobmarlu).
Axiy nay*.
4 83>ii« 81\«4 HI4 81>494 xm5 22isa5 21 'a
40>«40l<n94>»M'l>h.5
4 8$ls
a 2n'«% i'o%40l4«40>,.96^»95>«
United states Bondsi.—Government bonds have had a mode-rately active business at about steady prices.The closing prices at the N. Y. Board hare been as follows:
* Tais is the price bid at the momins board : no leUe was made.
State and Kailroad Bond.s.—The business in State bond«has fallen off somewhat the past week from the activity of sev-eral weeks previous, the total transactions being: $82,000Louisiana stamped 4s, at 73J-74}; |114,000 North Carolinaspecial tax bonds, at 6i-7|; $15,000 do. 63, 1919, at 115-4;$4,000do. con.solidated 4s, at 90; $61,000 Virginia 6s deferred,at lll-12i; $10,000 do. trust receipts, at 12; $10,000 Arkansas78, Central Railroad issue, at 9; $2,000 do. 63 funded, at 10;$20,000 Tennessee 6s old, at 52i; $8,000 do. compromisebonds, at 61.
Railroad bonds continue active and the tone is very stronff,
some issues being buoyant, though a few have declined. Erieseconds have been quite active, but the price has not fluctuatedmuch, and several other classes, notably .\tlantic & Pacificfirsts and incomes,, have had a large business. The closingprices and range of a few leading bonds are annexed.
N. Y. L. E.* West., 2d connol. 68Atlantic & P., W.D., l8t,6s....Incomes. 1910
Tfxas & Pac, Inc. & Id. gt. 78..Rio Gr. DIv., 6h, conp. off
* l*revi0U8 to Soittoniber range Ls for tho lji>udH.
Railroad and Miscellaneons Stocks.—That the move-ment toward higher prices was not yet at an end was amply de-monstrated this week, when the market again became active
and very buoyant, most of the leading stocks advancing sharply
and touching the highest figures for the year. The weekopened on Saturday (Oct. 31), with a strong market, and thetendency continued upward, with only small and unimportantreactions until Wednesday afternoon (Tuesday being a holiday)
when there was a sharp decline, due to realizing sales and araid by room traders and the bears, the result being that thewhole market went down several points. This weakness didnot last long, however, and on Thursday prices were oncemore buoyant and went higher than before, the feature beingan active and widely fluctuating market.
As has been the case for some time past, the changes in themarket were the result chiefly of a revival of speculative confi-
dence; yet there are increased indications of improvement in
railroad business, and the earnings of some of the imjKirtant
systems, especially those in the Northwest, show gratifying
gains, and this has had its influence on the market bystimulating the rise in the granger stocks, among which St.
Paul has l)een the feature, having risen 7 points during the
week, to 954 (closing at 044), and exhibiting a marked Aefrtt»
of strength. Another imjiortant favorable feature, of course,
was the meeting of the trunk-line presidents and the practical
accomplishment of the new pooling agreement between the
trunk-line roads.
To-day (Friday) the market was active and unsettled, open-
ing strong but afterward reacting, with the olose ratlicr weak.
618 THE CHRONICLK [Vol, XI .T.
NEW TOEK STOCK EXCHANGE PRICES FOE WEEK ENDING STOVEMBER 6, AND SINCE JAN. 1, 1885.
STOCKS.HIGHEST AND LOWEST PRICES.
Saturday,Oct. 31.
Moudaj',Nov. 2.
Tuesday,Nov. 3.
Wednesday, Thursday,Nov. 4. Nov. 5.
Friday,Nov. 6.
Salesof theWeek
(Sh'res)
Bange since Jan. 1, 1885.
Lowest. Highest.
Active RR. Stocks.Ciuiadian FacilloCanada SouthernCentral of New JerseyCentral PacificCiesapoalte & OMo
Do Istpref...Do 2drref
Chicago & AltonChicago Burlington & Quincy.Chicago Milwaukee & St. Paul.
Do pref.Chicago A, Northwestern
Do pref.Chicago Eock Island APacitio.Chicago St. Louis & Pittsburg.
Do pref.Chicago St. Paul Minn. <& Om.
Do pref-Cleveland Col.Cin.&Indianap.Delaware IjickawannaA WestDenver &Kio GrandeEast Tennessee Va. & Ga
Do pref.Evansville & Tcrre HauteFort Worth & Denver CityGreen Bay Winona & St. Panl.Houston & Texas CentralIllinois CentralIndiana Bloomingt'n & West'nLake Erie & WesteruLake Sliore & Mich. Southern.Lon^ IslandLouisville & NaslivilloLouis. New Alb. & Chicago...Manhattan Elevated, coneol..Mempliis & CharlestonMichigan CentralMinneapolis & St. Louis. .
.
Do pref.Missouri Kansas & Texas.Missouri PacificMobile* OhioNashv.Cliattanooga ASt. LouisNew York Central & HudsonNew York Chic. & St. Louis.
.
Do prefKew York Lake Erie & West'n.
Do pref.New York & New EnglandNew York Ontario & Western
MOVKMBKB 7, 1889,J THE CHRONICLEI 519KAILROAl) EAKNINU»<.
The latest railroiwl oiirniii){a and the toUU from Jan. 1 tolatest diilo (u-o Kivpu bolow. Tho stattmient includes the irroMeaniiiiKs of all railroadH from which rotumB can be obtained.The coluiiin« iiiidi«r the heading " Jiumary 1 to latoM date"furnish tho K'ross oarnings from January 1 to, and includingibe period nu-ntioni'd in tlic second column.
Olilcftgo A Alton 4tii wk OctCUIc. tuirl. & Q. SoptiMiib.rC'lilo. .1- Must. m. 4th wk Octt'lilc. M : I . ,v .St. P. 4 1 h wk OctClilc. .t N.utliw
I
till wkOottCli.St.l'.Miii..<:0.iltli wkOctCUio. A W. Mieli.|;til wk Oct.Cin.Iiiil.Mt.T..A:('. Ith wk Octdn. N. O. .vr.l'.iSi.ptpiubiT:riii.\V:nh..v Hall -M wk Oct.l
2-',070ll--'.<)7li
n.37t>U:)H,.'it)8|
78,8872l)'.).000
;i7,47r>
14..Vi8114,i5l310,105
2'23,S«IIn2,.'587,
2.^.'>,ooo
41,0811,370,20!) 1,3(18, !»!MI,
30<J.Oi)7| 3t>3,l(Kll72,.') 1!) 7(i,2.->2:
13S,H1>2 ]17,!)1(118H.ti:ii) 211,40;i'
i(»7,ri!M
974,260372,400
2,.'<t>ii,7iH>
(i,7))().(l.". I
l.()."il,H7(i
7,02m, X(l(i;
2,4ri 1.021.'>oo,r)00i
I.IOS.OII!o.-'vaii.iris!
144,OSO003,207304,011
2.i':i.V,s'->'7
>H,:,!i7
I,'J07,70,'-.
H.(IHO,2082,ll-<3,l33
rir.7,2 1
1
Olio, 1207.'.'l>2,7IMi
condition of the AModatfld Bwtka o( SSw Torik Ol^teSw«ek ending October »1. tmT^ ^ *^
[:ifv.\kroii,vt'ol 3 1 wk GotCh'V.Col.C.AIiid August ...'
Dauliury & Nor. September 1
Deiiv. & Klo Or 3d wk Oct.lDenv. A R. O. W. 3d wk Oct.Di». Mo. * l'"t.I).13il wk Oct.'Dct.lj»iis'x,t No.ilth wk Octr>ub.JiSii)iixCitv Ith wkCH't,E.Tciiu.Vii.&tiii. 3 wk.si Oct.!Evaiiav. & T. Il.]3d wk Oct.'Flint & I'. Miin].'3 1 wk Oct..Flor. K'wii.v & N.;3d wk Oct.Floridu 8oiith'n.,Julyit.Worths Di'ii. IstwkOel.Gal.Hiir.AS. Au,' August ...
Gnuid Triiiik . . ; Wk. Oct.31Or. B.W.itSt. r. Septciubi-r
OhAinloalUnreliantu' Kioh.Oallatln National.Bntchem'A DroT.,Maohanlon' ATr..Ormnwlol)Lrattaer Mannrra.BcTeolh Ward....State of N. YAmerlo'n KxoU'ire.CoruiiioroeBroadwajrUansantllePaolflcRepublicOhathamPeoples*North America...HanoverIrvlDKOltlzeus' ...... ....Naanan . .....UarketSt. NicholasShoe A Leather..Oom Exchange.. I
ContinentalOriental I
Importers'^ Trad.Park I
North River '
East River i
Fonrth National..!Central National..Second National..Ninth National...PIrst National I
Third National ...;
N. V. Nat. Kioh.,BoweryN. Y.OonutyGerman-.Vnierlc'n.Chase National...Fifth AvenueQerman Exoh'nge.GlennanlaDnitetl statesLincolnQarileldFilth National....B'k of the Meirop..West SideSeaboardSixth National....
September 14,270,028:4, 1.58,871 '33,237,632:M WkOct.' 13,288 15,5.30' 583,073
Phllu. &i;ric ...;8ipten;l);-r 3:18,775; 352,205' 2,361,022Phila. A ReadiuK September 2, 8O0,:i8S 2,870,451 21,003,101
;i,<ii)o,s:)o
2,410,5001 ,400,052750,100
2,10 4,0124.085,00910,738,6072,788,070370.116
2,214,800501,027
el,'
;i7;i,o:i3
80,1.50l03,100102,00i)
107,:iO445,80430,420;
104,303!33,725'27,47018,530114,1121
17 1,000
1
00,058
II 1,574,007
36,399,099618,604
2,661,70623,101,923
337,3801,27051,13040,071
170,20842,87030,03
1
175,205,20,71830,05118,08111,460,
107,4.5355,514
998,858 1,014,8 •«:
113,427| 109,599
r-10,13l! 586,212
11,172,2.54 12,010,0512,82:i.8 1l( 2,700,500
Do (,'. & Iron SeptembiEichm'd ADii 11 V. SeptemberCh. Col. ik .\ii),'. '.SeplcmberColumbia.\£<!f. .SeptemberGeorijia Pac. . .SeptemberVa. Midland-. [SeptemberWeat.No.Car Sc.itember
Koch. A Pittsb'g 4th WkOctKomeWat. AOg. AugustSt. Jo. A Gd. lal. :id wk Oct.St.L.AltouAT.U. 3d wk Oct.Do Branches :id wk Oct.
81. L. F. 8. A \V. 3 I wk Oct.St.L.ASiin.Fian. 4th wk OctBt.I'anlA Diiluth 4th wk OctBt.P. Min.,\: Man. Oct. bcr ...
South Carolina. .ISaptemberBo.Pac.Comp'y--
Atlaii. System An,11 '<t'
PaciHc Sy-stem Aui,-ii.st ... l,0O0,302'2,240,456Texas A N. O--. Aunuat ... OS.IOO! 75,.502Tex. A St. Louis 2d wk Oct. 37,032, 34,101Union Pacllic... September 2,518,122 2,480,827 18,378,77s 18,274,2,52Vicksb'g A .Mer. S.ptombi^r, :i0,018i 41,4831 200,331' 335,023Vicksb.Sh.AP.ic. September, 30,001 :t5,52l| 250,803 135,262
Wo.C»rolina—68, old, 1886-'98..J&J6s, N C. RE., 1883-5 J & J U68, do A&OHOa do 7 coupons off J&J68 do 7coupon8oir A&O68, funding act of 1866 1900 J&J6b, do 186S,1898A&066, new bonds, 1892-8 J&J6b do A&O68, Chatham RR A&O6e, special tax, class l,1898-9A&o6b, do class 2 A&O68, do W'n N. C. RR.A&O68, do Wil. C. & R.. A&O4s, new, cons., 1910 J&J68.1919 A&O
78, water. 1899-1902 J&J7a, improvement, 189 l-'y4. . Var.78, Bergen, long J*JHudson County 5s, 1905 M&SHudson County, Os, 1903 J&JHud8(m County 78, 1891 JjiDBayonne City, 78, long J&J
Lawrenc*. Mass.—68, 1894...A* O
I
6s, 1900 A&OLong Island City, N.Y—WatRr.7B,'95
10010010010099991001001111121111021s105115
Ask.
106105101101100100101101
111%111107112
113126128
I25141121s1081221121161031021s103
1311191sI2lisH3106117114129140148140lr>0
110103114i2d110101120122%132
103
120
101nilsin»i
112125114120lot103105
13-^
119%122116107118110130142i.-.o
141152111104
louisvllle, Ky.—78, longdates. Var.l7s, short dates Var.l68, long Var.l68, short Var. *
58,1890-1900 M&NLowell, Mass.—6s, 1890, W. L.M&NILynchburg, Va.—6s J & J
ni. Grand Tr.. Ist. 8s, '90. ..AAO 114Dixon Peo..feU., 1st, 88,1899,JAJ tllo%Ott. Osw. A Fox R., Sa, 1900.JAJ 1 137QuIncyA Wara'w, lat,8a,'90.JAJ Ill3i«4toh'n A Neb.—1st, 78, 1907 MAS 1123
Ohio. A Can. 80.—Ist, 78, 19()2 AACChlo. A East 111.— Ist mort. 68, 1907Inooine bonds. 1907Ist, coo., (U. gold, 1931 .... AAO
Chic. A Gr. Trunk- lat luort., 1900Chl<vA Mlch.USh.-l8t,88,'89.MASOhio. Mil. A St. Paul—P. du C. DIv., Ist, 8a, 1898. FAAP. D., 2d M., 7 3-lOs, 1898.FAASt. P. AChic, 7s, g., 1902. ...JAJLa. C, Ist M., 7s, 1893 JAJ 118I. AM., IstM., 7a, 1897 JA.I 122I'a. A Dak., 1st M., 7s, 1899. JA.JHast. A Dak., Ist M.,7s, 1910..IAJChic A Mil., let M.,7s, 1903.JA.rlat mort., consol., 78, 19()5..JAJlet .M., r. A D. E.xt., 78, 1908JAJIst M.,6s, S'thwcat Dlv.l909JAJlat M., .58. La V. A Dav.l919JA,r80. Minn. 1st 68. 1910 1.tjChic A Pac Div. 68. 1910 ...JAJ
do West. Uiv., 5a, 1921.JAJMineral Pt. Div.. Ss, 1910. ..JAJChic. A L. Sup. Div., 5s, 1921JAJWis. A.Mlun. Div., Ss, 192 1 . . .JA.ITemiinlaSs, 1914 JAJlDnbunue Div., lat, Oa, 1920..IAJWia. Val. Div., lat. 6s, 19'20.JAJ! lOS"*Fargo A South.- 68. aaa.1924. J,bJ;
Chic. A Northwestern.
—
Consol. mort., 78, 1915 Q—
F
Consol., gold, 7s, op., 1902. .JAD 131iado do reg JADi 132
Cln. Ham. ADayt.—Conaol.38 AAOConaol. mort., 78, 1903 AAO
do 6a, 1905 AAOCln. H. A I., lat M., 7a, 10O3.J.t.I
Cln. A Eaatern—lat, 7a. 1896 . JAJ2d mort., 78, 190OConsol., gold, fia. 1912
Cln. I. St. L. A Chic—Con, 6«, 1920Cln,A Indiana, lat M.,78.'92.JAD
do 2d M.. 7a,'87-92.JA,lIndlanapoUaC. AL., 780f '97.. .
Ind'apolls A Cin., l8t,78,'88.AAOCln. Laf.ACh.—l8t,7a,g.,1901..MA8 t HulaCln. Northern.— Ist. 6s, gold, 1 920, ....
Cln. Rich. AChlc—lat. 78, '95.JAJ 1108ICIn. Rich. A F. W.—lat, 78, g. . .JAD 1 1 10Cln. Sand'ky A CI.—6a, 1900. .FAA 1 10378,1887 extended MAi^Conaol. mort., 7s, 1890 JAD
Clu.ASp.—78, C.C.C.A I . . 1901.AAO78, guar., L.S.A .M.S.. 1901..AAO
Cln. Washington A Bait—l«f VT . iriar. I io..-<is. I<t.11 MAV
127 >B
121
110
100H17106tll3104116%120% 1231301221164113lOti
tl03>a• 120111!IHOia30265
tl01i«tlO-ttlofiiatll31 10 ji«
1 103(103 la
11/iaIl«>4
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idi"
nils50
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ids113106
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iiio"
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101
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139"
asi*
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35"
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103 19
1101041171*
.
62%* out19%1 2096
100 liW<jii
102>a
Ool.SBriiuf.AC.—
1
120 Col. « Xeill»-lst108 Conn. A Piuiaiunp90 MaaaawlppI, g., >,
. .,
^151* Conn- Val.—1st M.. &», 1922}2Sia Conn. West.—lat M., 7«. 1900.JAJ 15lljif OonneotlnK(Phlla.)—1st, Oa ..MAS 119llli» ConaoI.Rltof Vt. l8t,»s, 1913.J4J 77128 Cumberland A Pena.—lat mort 1021141a 2d raort 101123'a Cumnerl.Val.— 1st M..8s,1904.A*6'22 Dayton A Mich.-Conaol. 5(i....JAJ I103>a
1171a 3d mort., 7s, 1888. now 2d.AAO f lOSij.... . Dayt. A West.-lBtM.,68, 1903.JAj!i 11210> lat mort., 78, 1905 JAJ 1120IOO Delaware—Mort., 68,gnar.,'95.JAJIll DeLA Bound B'k— let, 7a,l905FAA
Del.Lack.A W.—Conv.78,1892 JAD 118Mort. 78. 1907 MAS
Bt. LoiiIh & 8iin Franolsco—2(1 inort., class A, 1906 MANSd M., class B, 1906 MANdo olassC, 1906 MAN
South Paislflo.—Ist M. 1888 .JAJPlcircC. AO. Ist, 68 FAAEciuijiinent 78. 1895 JAI)GciKMiil nuirt.. Bs, loai JAJTrust l.ond.s, 68, lOiO FAASt. L. W. A \V., «s, 1019 MAS
8t.l..Vand.AT.H.-lstJI.,78,'07.JAJ2d mort., 78, 1898 MAN2d. 7a,iruar.,'98 MAN
Havana Olv., 1)8, 19T0 JAJIowa Div., 6a, 1921 .MASIndlanap. Dlv., (Is. lOri JADDetroit l)lv., lia, 1921 JAJQuluoyMo.AP.,l..t,0«,na«r.l900Cairo Dlv.. 59, l!i:il JAJCona. mort.,7». lou7,con Q-FUt. St. L. dl v. . V a, 1 889 FAAQtWeat., Ul.,lst,7«,'88 FAA
do 2d. 79,'9:<....MANQ'nny ATol., lst,7i " " •. yHan. A NapUw, l»t.Ul.A 8.1a., Ist, (!«. 1
8t,L.K.C.AN. rdo Om.I),do Clar. I.,
do No. Ml)., lat __ do St. Cha's BildgeOa, lOO'sWab. Fund. 1907-Var. 78. PAA
do Various Gs PAA^arren (N.J.)—2d, 7s, 1900 .AAOW. Jersey A At. Ist M.,e8l010MASWest Jersey -Ist, 68, 1896 JAJlatmort., 78, 1899 AAOConaol. mort.. 6a. 1909 AAO
Weat'nPenn.-l8t M., 6s, '93. .AAOPitts. Br., let M., 6s, '96 JAJ
Wheeling A L.Erie— 1st, 68, g., 1910Wllm. Columbia A Augusta, 6sWll.A Weldon—S. F., 7s, g., '96.JA.1Wieoonsln Cent.—Ist ser., 5s, 19092d series, 7a, 1909, If earned ...
Wis. Valley—1 at, 7a. 1909 JAJSVorc'r A Naslma—oa, 'O3-'05. . Var.Nash. & Roch.. snar.. .5a. '94.AAOKAILRO.VD STOCKS. Par
Ala. Gt. South.-Lim., A., 68,pref..LIm., B, com
Ala. N.O. A Pac, Ac, prefdo do (lef...
Albany A Susqueh., Guar., 7. . . 100Allegheny Valley 50Atchison Col. A PacitloAtchi.aon Topoka A Santa Fe.. 100Atlanta A Cliarlotte Air LineAtlantic A Pacittc 100
1 1Augusta A Savannali, leased... 100Baltimore A Ohio 100
do let pref., 6 100do 2d, oref
Washington Braucli lok)Parkersburg Branch 100
Boston A Albany 100Boat. Con. A Montreal., new. ..100
do Pref., 6. ..100Boston Hoosac Tun. A Western. . .
.
Boston A Lowell looBoston A Maine 100Boston A N. Y. Alr-Liue, prefBoston A Providence 100Boston Revere BeachA Lynn.. 100Brookli'n Elevated . . newBrooklyn A Moutauk 100
do Pref 100Bu(T. N. Y. A Erie, leased 100Buffalo N. Y. A Philadelphia
do do PrefBurlington C. RapidsA North. .100Cairo A VIncennes, prefCalifornia PaclfloCamden A Atlantic 50
do Pref 50Canada Southern 100Canadian Pacillo 100Catawisaa 50
do let i)ref 50do 2d pref 50
Cedar Falls A Minnesota 100Central of Georgia ..100Central Iowa ...100
do 1st pref 100do 2dpref 100
Central Museachuaotts 100do iiref.lOO
Central of New Jersey 100Central Ohio 50
do Pref 50Central Pacific 100Charlotte Col. A .\ug 100Chesapeake A Ohio, common ..100
do Ist pref. ..100do 2d pref. . . . 100
Cheahlre, pref 100ChloagoA Alton 100Chlc^o A AtlanticChicago Burlington A ()uinoy..lOOChtvago A C.ina<la Soutnern(Jbioago A East Illinois
Chicago A Grand TrunkChicago Milwaukee A St. Paul. 100
do Pref.. 7. 100
Bid,
III1005697%90109\7l>*98
4»>«79
SO
82100108^8
10682
113
tfo'
98 14
601107B
4780
Railroad Stook*.
35I 19
BM. I Asfc
Ohloaifo * Worth Wettm lool I lo',, iiliarn., ''." . Pref., 7. 100 IM Iia7i«i5J OftK" K'X'k Island A Pao....l00 l'J4 '
—do ,„
Ohio. Bt. P. Minn, A On._. doChloagoA We«tMlohl«»n \(hi.Cln. Hamilton A Dayton 100'
Concord 90Concord A Piirtsmonth.K'Har'.'? iooCiinncctlciit A. PanaiiiiiiMit! 100'Connecticut River )()0iDanbury ,t .Vorwalk 90Dayton A .Michigan, guar., 3I9..90
do Pref., guar., 8.90Delaware A Bonnd Brook 100Delaware Lack. A Weittem 50Denver A New OrleansDenver A Rio Grande 100Denver A Rio Grande Western. ..Des Molnea A Fort Dodge_ ^
do. do Pref..
Det. Lansing A Nortliem, com . 100rv... *"
. -, *» Pref.lOODubnque A Sioux City 100East Tennessee Virginia A Oa.lOO„ do do Pref.Eastern (Mass.) 100Eastern in N, H lOOEel River loOEUulraA WlUlamaport.S 50
do Pref., 7..50Erie A Pittsburg, guar., 7 50EvansvlUe A Terre Haute 50Fitchburg XOOFlint A Pcre .Marquette
do do PrefPort Wayne A Jackson
do do PrefPort Worth A DenverC 100Galv. Uaril.sl). A San AntonioGeorgia PacificGeorgia Railroad A Bank'g Co. 100Grand Rapids A IndianaGrand River Valley, gtiar., 5.. 100Green Bay Winona it St. Paul.. 100
do Pref.... 100HarrlsburgP. Mt.Jj.AL., guar., 7.50Houston A Texas Central 100Huntingdon A Broad Top 50
do do Pref...50minoia Central IOC
do Leased line, 4 p. c. 100Indiana Blooraington A West'n 100Indian. Decatur A Sp., com...
do do Pref... 100Iowa Falls A Sioux City 100Jeft'v. Mad. A lud'p's, leased.. 100JoIietA Chicago, guar., 7 100Kansas City Ft. Scott A Gulf... 100
do do pref.. 100Kans. City Springf.A MemphisKan. City Clinton A SpringTld. ICk)Kentucky Central 100Keokuk A Des Moines > 100
do Pref.... 100Lake Erie A Western 100Lake Shore A Micb.So 100Lehigh Valley 60Little Bock A FortSniith 100Little Miami, leaaed, 8 gnar. ... 50Uttle Schuylkill, leaaed, 7 50Long laiand 50Louisiana A Mo. Riv , Com 100
do Pref., guar.
.
Louisville A Naahville 100l/oulsville New Albany A Chic. 100Macon A AugustaMaine Central 100^ 114 ,115.ManobesterA Lawrence lOO.xlOO 1193Manhattan Beaoh Co 100> 14 ; 14Manhattan R'y, consolidated ..100Mar.i. Houghton A Ont 100
do Pref 100Memphis A Charleston 35.Metropolitan Elevated 100.Mexican Central 100Mexican National
do prefMloUgau Central 100Michigan A Ohio
do PrefMidland of New Jersey .^
Mil. Lake Shore A West 100do do Pref.... 100
MilwaukeeA Northem 100.Mine Hill A S. H, leased 50Minneapolis A St. I-oiiis 100
do do Pref... 100MKaouri Kansas A Texaa 100MIs.'idurl PaiMlle 100.Mobile A Ohio 100Morris AEssex, guar., 7 50NasliT. Chat. A St. Louia 25HaaimaALoweU 100Newburg Dutcheaa A Conn . .
.
do do pref
10861
1141*1793
221401119
6«
801356669
11%S3
43%1505677H214149%
1031s 10924 li 2563 4 6536
It's
1331
i33 If
47 «s
371sI0',<
1413044
Z146
37 Hi
11%917%75'!1030
S391
6033%47%37%103%14%
13046%148
* Frioe nominal ; no late transactions. t PoroUaaer also paya accrued interest. } In London. J Qaotatijna per ahare. H Coupon off.
524 THE CHRONICLK [Vol. XLI.
GENERAL QUOTATIONS OP STOCKS AND BONDS—Continued.
For Bzplaaattoas See Notes at Head of glrgt Page of ftnotatlong.
BAILBOAD 8TOCKS.
RK. STOCKS.OOSTINUED.
New Jersey & N. Y
—
do Pref.New Jersey Southern.N. Lond.A North'nlOON.Y.Cent.A H.Riv.lOOH.Y.Clilc.&8t.L...100
do Pref.100N.Y.& Harlem ....50N.Y.L.&W.,suar.5.100K.Y.Ii.Erie& West.lOO
do Pref.lOON.Y. & N.Eneland.lOON.Y.N. H.& Hartf.lCON.Y. Ont. <& West. .100
do Pref.
N. Y. Fenn. & Ohiodo Pref.
N.Y. Prov. & Bost.lOON.Y. 8usq. & Western,
do Pref.N.Y. West Shore &B.Norf.&West,, com. 100
do pref. 100No. Pennsylvania. .50Northern Central ... 50North'n N. Hamp.lOONorth'n Pao., com. 100
do Pref.lOONorw.& Worcester. 100Ogd. & L. Champ. 1(>0
Ohio Central 100Ohio* Miss 100
do Pref. 100Otilo Southern 100Old Colony 100Oregon & Calif.... 100
Mexican 100.Mutual Union 100N. Y. Mutual Un. Tel..
Mutual Union 68Postal Telegraph. . 100Bonds, Ist 6s
Postal Tel, & Cable Co80. Tel., 1st mort. b'dsSouth'n & Atlantic. 25Western Union 100
78, 1900, M. &N-.TEIiBPHONESTOCKS.
American Boll 100Amer. Speakiug...lOOColombia & Pan ... 100ContinentalCurrier Tel. Bell ...DolbeirEast TennesseeErieGlobeHudson River 100Inter-Continental.VletropolitanMexican.Mexican CentralMolecularNew EnglandNew York & N. J....New York & Penn...N. Y. State OverlandPeoplesPeoples (N. E.)Southern BellSouthern N. England.Tropical 10W. I. Tclegr. & Tele. 10
E1.ECTRICliiaHT STOCKS.BaxterBlauchard Eleo. LightBrush 100Brush Illuminat'g 1 00Coiisol. Electric Light.DaftEdisonEdison Illuminating..Eflison IsolatedSwan Incandescent.Sawyer-Mann 111. Co..United StatesUnited States ni. Co..
TKUST CO.'SSTOCKS, N.V.
Am. Loan & Trust. 100Brooklyn I'rust 2.=
Central 100Farmers' Loan & Tr.25KnickerbockerLong Island 100Mercantile 100MetropolitanN. Y. Guar. & Ind..l00N. Y. Life & Trust. 100Union loOUnited States 100N.Y. & BR'KI,VNHOKSE KRS,BleeclcerSt.A FuIt.P'y1st mort.. 78. 1900
Hartford, Ct., 6. L..25Jersey C.& Hobok'n 20People's , Jersey CLouisville 6. LCentral of N. Y 50Consolidated, N.Y.IOOEquitable. N. YMutual of N. Y....100N. Orleans G.L. ..100Portland, Me., G. L.50St. Louis G. L 50Laclede, St. Louis. 100Oaroudelet,St. Louis 50San Francisco G.LWash'ton City G. L.20GOtiO&SIIiVEItMINING STOCKS5(N. Y. & SAN. FRAN.)AliceAlta Montana 1 00Amie 10BarcelonaBasslck 100BechtelBeUe Isle 10 '
' Price nomlDAi : no lace transactions. t Purchaser also pays accrued Interest. X In London. { Quotation per share.
November 7, 1889.] THE CHKONICLR 52d
GENERA r. QUOTATIONS OB' STOCKS AND BONDS—Oonoludbd.For BKpUuttloin aec Noteti at Head of Plr»( Pace or anotatlon*.
Mining Stocks. Bid.
Del. Dlv.— fin. 'flfl.J.tJ
Hnlvdkc W.Power. 100Jii.fc<..ii (N. II.). .1000Kliu; |-|iiltp(F. R.) 100I,uc..iuimMi<) 400IjiniiiMl.l' .M.(N.II)40(L'rol Ijikf Mills (K. R.ILawrt»!)ro (.Muhh.)10(KiLowoll (Mass) (l!i()
Lowell l!li:»cl»T.v. •-'(>(
Low((ll .Miii'li..Sh..|i.,'i(M
lAMimii M. (Mii«n.).l<MiJ^iiiicli«'»lcr(N.II.)IOOMiiN». Coltoii 10<)(l
Mdchiilid's' (F. K.) 100MiTclialila' (F. K.) 100M<Miiinafk(M»«s)1000Mi«lil<iinii>t (F.K.) .100MliIilli>s..x(Mii«a.).100Nftrrui;i«n.s'tt(F.R,)100Niwliim (N. H.)....500Nniiiiikcm; (Mai4fl.)103N. K. (fla.saiMtt88.)375N»nvluarkotPiiclHo (M.vss.)...1000Pcppi'rt'lKMe.) ."SOO
Pmii.s.sot iF. R.)...100Rlrh. BonViKF.R.) 100Robofoii iF. Rlv.) 1000Sacainiirc (K. Uiv.) 1008nlmiiiil'iillsiN.ir.)300Bnii(lw.<;las.s(M««8.)80Sliuvc (Fall Uiv.). 100einili! (Fall Riv.).. 100Stutrcir.l (Fall Rlv.) 100Starn MiIl8(X.n.)1000Trcuinsoli (F. R.). 100Thi)iMitikc>(.Masa.ilOOOTromiiiit,ii.S.iM,'»ss)100TroyC. >vW.(F.R.).i00lUnloiK'.Mf. (F.K.) 100Wain|>anoai,'( F.R.) 100WaMlilni,'t'ii(Ma8s.)100WVimI .s.'W. M'e (Ct.)23Wpotamon (F. R.)100Williin'tlc Linen<Ct)25York Co. (Me.) 7.50
BANK STOCKS.Ilaltlmore.
Bank or Kalnmore 100Bank of Commerce. 15Citlzena' 10Com. ii Fari"uer8'..100Farmers' B'k of Md.30Fanners' & JMeivli . .40Fanuprs'&PlantersFirst .Vat. of Bait. .10(1Fraiikliu 60Gerrr.aii AmericanHoward 1
Broadway 25Butchers'* Drover825Central National.. 100Chase National 100Chatham 25Chemical 100City 100Citizens 25Com luerce 100Continental 100Corn Exchange ...100East River 25Eleventh Ward 25First National 100
270140106130
;15525.102601151A6tlo5:i7o;ii)0
115900
FourthNational...l00 ;il9Fulton 30Fifth Avenne 100Gallatin National ..50Oarfleld 100
llOO550175140
QmniaD American. .75Oonnniila 100
. h 2ft
100s'4Tr...lOO
50^Ianufu..l0<)
' in ,5ol
Mut'luu 100Harket 100Mer'Iinnles' 25
' 8'* Tr.. .2ft1" 100
•>i' . . MS' SO.Merchants' ExoirgnftOMetropolitan looNassau 50New York 100]N. Y. Nat. Exch'gelooNew York County. 1<M)I
Mlutli National HK)|North America .... 70l."^orth River .50Oriental 2ft
Paolflo 60Park 100People's 25Phenlx 20Repnhllo 100Sec^md National.. IOCSeventh Ward 100Shoe A leather 100St.Nicholas 100State of N. Y 100Tradesmen's 40Union .50
United States Nat. 100Philadelphia. ^
B'k or .\. America . 100Ceiiteuuial Nat 100Central National.. 100(^ity National .50
' Price nominal; no late transactions. ; Last price this week. { Quotation per share. g Assessment paid.
526 THE CHRONICLE. [Vol. XII.
%uvtstmtut
The Investobs' Supplement contains a complete exhibit of
the Funded Debt of States and Cities and ofthe Stocks andBonds of Railroads and other Companies. It is published
on the last Saturday of every other month—viz., February,April, June, August, October and December, and is fur-nished without ea^ra charge to all regular subscribers of the
Chronicle. Extra copies are sold to subscribers of the
Cheonicle at 50 cents each, and to others than subscribers
The report, just issued, says: "The consolidation with the
Lowell & Framingham Eailroad Gompany has not yet been
fully completed. On September 30, 1885, the Old Colony Rail-
road Company held $416,000 of the first mortgage bonds of
that company, for which it had issued to the holders the sameamount of its own bonds, bearing interest at the rate of 4J^per cent, and running twenty years, and nearly all the pre-
ferred and common stock of the Lowell & Framingham Rail-
road Company had been transferred to Messrs. Ames andRotch, as trustees, under the terms of the agreement for con-
solidation. For the remaining bonds outstanding upon whichthe interest due October 1, 1885, has not been paid, the direct-
ors have offered bonds of the Old Colony Railroad Companybearing five per cent interest and due April 1, 1891. At the
date of the printing of this report, October Slst, $33,000 havebeen thus exchanged.
" It is expected that the consolidation will be fully con-summated early in the coming year. The interest upon the
bonds exchanged, as above stated, and the dividends upon the
receipts given stockholders of the Lowell & FraminghamRailroad Company have been charged in this year's accounts
as rent of the Lowell & Framingham Railroad Company."Large additions have been made to the equipment during
the past year, and 7,624 tons of steel rails and 320,267 sleepers
have been used. Various second tracks have been com-pleted during the year, and the directors have voted to build
a second track during the coming year between Sherbom andMarlboro' Junction and upon the South Shore road. The cost
of the second tracks, amounting to $480,201, has beencharged to construction. A branch railroad has been built to
connect the old line to Fall River with the Bridgewater branchat a cost of $12,741. The directors have purchased theentire property of the South Boston Iron Company (223,093ajuare feet) for $210,197, subject to a mortgage for $175,0OO,
due February 25, 1888. paying in notes of the South BostonIron Company $160,000, and in cash $50,197. The propertyuntil needed for the uses of the railroad is leased to the SouthBoston Iron Works Company at a fair rental.
"During the year the directors, under the authority con-ferred by the stockholders, have sold $250,000 of bonds,bearing interest at the rate of four per cent, and due intwenty years from date, at a premium of one per cent. Outof the proceeds $100,000 of bonds of the Agricultural BranchRailroad Company have been paid. They have also sold 4,000shares of the capital stock for $637,250. The premium onbonds and shares has been added to the improvement account."The total charges to construction and property accounts
for the year were $708,922.
If'" The earnings for the year show an increase over those of
1883, heretofore the largest in the history of the company, of$2,006." The comparative statement of earnings, traffic, &c.,for four years is as follows:
Total liabUities.. 14,983,211 21,130.154 21,482,407 22,394,465
*Inl8'4-?5 tins account was m-ide up as follows: Oil Colony Steam-ship stock owned $725,500 ; Fall Klver Providence ii. B.jston stock andIjonda owned $348,655: Lowell & Fram. BR. bonds and stocK, !ti444.548;
The President remarks: "The loss of gross business, the
figures indicate, was experienced in July and August.These months heretofore have given the company much busi-
ness in the movement of wheat, while .this year we did notmove a car-load during this same time. 'We have a good cropon our line, which will be moved during the fall, and our fall
months will gain what we lost in the summer months."Since the last report the completion of the great and
magnificent bridge spanning the Ohio, and connecting the
rails of this company with the L. & N. R. R., has occurred.
The bridge was opened in July for business, and we expect
therefrom a large increase of traffic, both freight and pas-
senger." In building the Evansville & Indianapolis Railroad, and
in guaranteeing its bonds, this company secured the stock
franchises and $292,000 of its bonds. The net cost of same to
this company will not be fully determined until final report
of the I. & E. receiver is made, which will be some timeduring the coming year, and when made will cause someincrease of the item of 'Evansville & Indianapolis securities,'
as now appears in the general account." With the beginning of the calendar year your directors
felt that the company could pay small quarterly dividends,
and so ordered. The first one of one per cent was paid April
1st, and has been so repeated quarterly, which we feel capable
of continuing, maintaing at the same time the high standardof the road's physical condition."
The following statistics have been prepared for the Chron-icle:
FreishtMall, exp. & misoel .
.
Total gross earn.Operating expenses.Taxes
1,774,644243,864
1,833,203237,016
1,741,860261,815
1.764,389256,836
4,126,2582,»t80,052
140,757
4,249,1792,859,078161,660
4,191,8722.696.006
199,:J6J
Total 2,820,809 3,020,738Net earnings 1,305,449 1,228,441
Net earuluipi....$.196,803 9232.211 $2,',!8t<,383 $477,011—The first through train from Montreal left Winnipeg over
this roiul Nov. 1, and a daily through train is now running.
Caiindii Southern.—Canada Southern second mortgage 5per cent l)onds to the amount of fliT-TOiODO are offered on theLondon mnrket. The price of issue is set at H>i. This is a partof the •JO.OOO.OOO issue, of which $3,432,000 are now out-standing.
[Chicusfo Hnrllngrtou & ({uinuy. —The gross and net earnings
for SeptemlxT and from January 1 to September 30 wereas follows:
• September. . '-9mot.,Jan. I to Sept. 30.-.1S>«S. 1884. , 1885. 1884.
Net eurnlngii... $1,496,831 $1,585,324 $8,440,735 88,718,103
Chlciiiro Milwaukee & St. Paul.—The St. Paul Companyaslcs the Stock Exchange to litt 50,000 shares of preferredstock, to bo listed Nov. 10. Vice-President Wadsworth saysthe $.5,000,000 preferred stock authorized by the directors attheir meeting Sept. 26, to be issued to stockholders of record,has all been subscribed to. As a matter of form the books forubscription will remain open until Nov. 6, a* annouaced.Denver & Rio Grande Western.—General Palmer, the
Presi lent, has issued a circular, under date of November 4,to the bondholders, in which he discusses the plans for thereorganization of the D. & R, U. W. RR. As we give thecircular in full on a previous page, we need not enumeratethe points it contains here, but simply suggest that tnecircular merits a careful reading by all who are interested in*he D. &. R, G. W. road.
Eastern—Worcester Nashua & Rochester—Boston &Maine.—TheEastem RR. directors, at their meeting in Boston,Nov. 5, voted to approve a lease by the Boston & Slaine of theWorcester Nashua & Rochester Railroad. The Boston &Maine is to guarantee five per cent dividends to the Worces-ter Nashua & Rochester, and pay its taxes. The lease will gointo effect Jan. 1, 1886. This will secure to the Boston &Maine road a valuable connection with the Boston & Albanyline at Worcester.
Evansville, Ind.—At Indianapolis, Nov. 3, in the FederalCourt, Judge Wood gave an important ruling on the Evans-ville bond cases. At various times during the last fifteenyears the city issued bonds to aid in the building of railroads,wharves and other improvements, and also redemption bonds,the total amount of them being about $1,500,000, which, inaddition to the accrued interest, now amounts to about$1,800,000. The interest was paid regularly for ten years, upto 1883, when further payment was refused and suit broughton the railroad bonds to enforce it. Payment was resisted onthe grounds, first, that the railway company was a foreign cor-poration; second, that the road did not reach Evansville ; andthird, that the subscription was not made in accordance withlaw. The Judge overruled all these points, and decided againstthe city. The amount involved is about $1,075,000. Thesedecisions are on demurrers which involve the real issues. Theireffect is that the city must pay the interest on her bonds andthe bonds themselves.
Houston & Texas Central.—The statement of gross andnet earnings, and surplus or deficit, for August and for eightmonths from Jan. 1 is as follows :
A ugutt. ,
188.5 1881QT0S8 earnings $240,468 $193,878OperatlU!$ ex euaes 186,1 74 121,486
Neteariiiazs $54,294Deduct—
Renewals* betterm'ts. $5,751Interest on lluat'g debt
In 1883 the gross earnings for the eight months were $1,801,-666; net earnings, $706,783; deducting renewals and better-ments, pI9,6.")3, and interest on floating debt, $40,115, leavesa surplus of $147,014.
Huntington System.-The earnings and expenses for Sep-tember and for nine months from January 1 were as follows:
-1885.-Orota
Septembfr— earning':Clie««i)ciik« & Ohio. $J0!,,(.«7Eliz. Lex. Si U. 8au. 7-.'.519Kentucky Central.. 80.'i04Clios. O. * t-outUw. 138,892
Jan. 1 lo .sy//<. 30—CliesaiH'ukei clilo. $2,154,924Eliz. l*x. & B. Sdu. 509 609Keniui-ky Ctuiral.. t2J.3.50Chca. O. & Soutbw. I,lu8,91U
Netear,, iugt,$122. m2
;i4,8««
1 41,21.762,536
$fisa,=.05170.511J 8 ,4S83j5.6^0
-1884.-OroM
earnings.$Jii.(.iw3
76.2 299,-91
1.7,916
$2,6^3,4333.=.7,2ll077.154060,429
Ketearnings.$111,'>U2
3.'j,v9l
4>M5432,669
$314,275183.09924 5.i3i107,724
for travel last Sunday. The distanoe of the romi from Ohtbcto A«h Grove, the present terminua, U 184 mlloi.Long Inland B«lIroad.—Th« (oUowliur {• a oomiwnuiM
Btatement of groM earnings for th« flMal ywu* radad £pt«ia>ber oj
:
1883-3.. 91,609,177
718,743271,170
_ 18S3-4. ll)»4-«.91,750.607 fl,807,*4«
PMMmgwaPrelffhc
,
MUovlluneous
Totals 92,085,090 uTTAfltaarncrciiso 12 months 1895 over 18Hi j.-
,f »»,.»..
Inoreusu 12 nicuillis 1»85 over 1883 .'......'.'.'.'.'.'.. itOMBLouigTlllo KvanHTille&8t. Louh.—At a uio<-tiiiir of hold-
urs of securiliis of the Louisville Kvansville & Hi. IxniU Kail-road held in Boston this week to consider the matter of fore-closure of mortgage and reorganization of the conipany, itwas voted "that a committee of three jiersonB, none of whomshall be directors, be appointed to confer with tlio proposedtrustees and the lute directors to invtstigate the whole matterand report their conclusioBS at a meeting to be called by thecommittee within ten days if possible." Messni. Walter S.Blanchard, Moses Richartfson and Charles E. Powers wereappointed.
Lonlsrllle & Nashville.—The gross and net eammgs, bymonths, are as follows:
The increase of bonded interest was on account of branchline construction. The capital stock of the company is $8,-603,300, and per cent dividends call for $216,198, whichwould leave a surplus for the year from earnings.
New York Central—West Shore.—At a special meeting oNew York Central stockholders at Albany, Nov. 4, the guarantee of the $50,000,000 West Shore bonds was confirmed andauthorized, more than $60,000,000 of the capital stock acqui-escing.
New York & New England.—At Hartford, Conn., Nov. 3,Judge Shipman, of the United States Court, handed down anorder authorizing the New York and New England RailroadCompany to issue not to exceed $2,000,000 of preferred stockat par, the proceeds to go to C. P. Clark, Receiver, and be byhim paid to such creditors as the company may direct, thecompany having the right to give preference to certain cred-itors. The court also permits the receiver to deliver to thecompany as many of its second mortgage bonds as it maydesire to issue, in settlement of its debt.—In Boston, Nov. 4, in the Supreme Court, proceedings were
instituted by a stockholder to enjoin the issue of preferredstock to creditors, on the ground that such issue would becontrary to the act authorizing the same. The law permitsthe company to sell the stock at par in cash, or $.50 in cashand two shares of common stock. It is claimed that thereis no authority to settle the debts with preferred stock.
Northern Pacific.—The land department of the NorthernPacific reports sales of 27,056 acres for $110,606 during themonth of October. The total sales for the first four monthsof the present fiscal year were 166,478 acres for $650,631,against 114,283 acres for $572,240 during the correspondingmonths of 1884.
Ohio & Mississippi.—The Ohio & Mississippi RailwayCompany gives notice that the interest due November 1 onthe Springfield Division bonds will be paid, with the reserva-
tion of the right to test the legal liability of the compuny forthat issue of bonds. A proposition, however, will soon besubmitted to the holders of the Springfield Division bondsproviding for an exchange of their bonds for other securities,
which the company believes it will be to their interest to accept.
—The gross and net earnings of the Ohio & )Iissisiiipiii RR.for Sept. and for nine months from Jan. 1 have been as follows:
Oregon & Trans-Continental.-The Boston Herald says:
The stocks called on the Oregon & Trans-Contineiml loan
option were 30,820 shares Northern Pacific preferied, 27,228
shares of Northern Pacific common, and about 6,000 shaiea of
Oregon Navigation, according to the latest advices, the exact
amount of the last named noticing ascertained. It has been
stated that the amount of Northern Pacific preferred andcommon subject to call was 30.000 shares. That was true as
to the $7,500,000 loan, but there was a supplementary loan of
528 THE CHRON[CLE. [Vol. XL
$400,000 upon the same terms as the large loan, and therefore
the call of 30,320 shares as above. Ttiese stocks were called
at 50 for Northern Pacific preferred, 25 for the common, and100 for Oregon Railway & Navigation, and reduce the Oregon& Trans-Continental debt as follows :
Debt November 2 $11,023,0001*88 stocks sold 2,796,700
Balance $8,826,300
The pale of the above treasury stocks of the Oregon &Trans-Continental Company leaves the following assets, whichat market and estimated values foot up as follows :
13S.P92 O.R.&N.®10r$13,899,v0O,
Oreeon Imp. notes $518.0"0.56,730 N P. prit.» ft5 3.120,15079,'91 N P.coni® 23 l,9-2.27.'i
Other Bio<'ke 606,0 52f<6 O & T. bonds.... 242,iSOOther bon.ls 39,000
(;aRh and loans.Other assets
l,2T.'5,'iOO
1,830,0U0
Total assets $23.860 896Less debt as above 8,S'i6.3>
Total $15,034:,036
Philadelphia * Itcadiugr.—The reconstruction trustees havenot yet pr sentfd their plan, which was due last F;iday, Oct.30. A synopsis of it has appeared in some of the Philadelphiapapers, but has not been officially corroborated. "When theplan IS decided upon by the trustees we will publish it.
The Philadelphia Press of Nov. 5 says: "The reconstructiontrustees of the Philadelphia & Reading Railroad are non-plussed. They have worked on a plan of reorganization for
weeks, and now are fain to confess that the effort to harmon-ize all interests and care for all classes of investments hasproven a failurn. Yesterday, to large holders of the varioussecurities, a brief of tlie plan was exhibited, inspection askedand criticism invited, and in every case, it is authoritativelystated, ti e scheme was condemned and epitomized as abso-lutely hopeless of acceptance and consequent success."—Up to October 30 the petitions to thf trustees of the gen-
eral income and consolidated mortgage bonds, asking fcr fore-closure, if the plan of reorganization is not acceptable, hadbeen signed by holders representing $4,240,000 of the generalbonds, $1,110,000 incomes and |I, 600,000 consol. bonds.
Sonora.—The gross and net earnings for September, and fornine moi.ths from January 1, in Mexican currency, have beenas follows:
Net earn!..p« $1,104 def.$6,4ti5 $.39,307 dcf $3.'),099
Toledo Cincinnati & St. Louis.—After hearing argumentin the Toledo Cincinnati & St. Louis Railroad cases, upon thereport of Special Master Cox. Juilges Baxter and Gresham,of the United S ates Court, at Cincinnati, November 3, disap-proved of tht- report, set aside the order of reference, andordered a sale under the foreclosme proceedings.
Trunk Lines Agreement.— It is reported that the trunk-lineplan unaer consideration by the presidents provides for : 1st.The presidents of the eigl't trunk lines select an arbitrator andthemselves act as a committee on all important matters. 2d.Minor details are left to sub-committees of general managers.&c. 3d. The trunk lines are held responsible for all rates byWestern feeders, but the leeders are lo be represented in thesubordinate committees. 4th. Rebates, time contracts, &c.,are to be abi dished 5th. East-bound dead freight and livestock, wes^bouIld freighisand all pass nger traffii! are coveredby the pool. 6th. A deposit shall be made by each line from•which tlie fines for violation of the pool asrreement snail bededucted. Nothing is known as to the Baltimore & Ohioarrangements.
Union Pacillc.—The gross and net earnings for Spptember,and for the nine months from Jan. 1 to Sept. 30 were as fol-lows:
Net earuinus... $1,18 (,241 $1,2 0,391 $S,i94,Gll $7,096,288
Wabash St. Louis & Pacillc—The Wabash Committeegives notice that the time during which bonds may bedeposited under the agreement of reorganization has beenexteridea to November 16. 1885. Alter that date an extra pay-ment of two per cent on hII bonds d posited will be required113,000,000, out of $16,000,000, have already signed the agret-meut.—The bondhold-rs of the Ind. Peru & Chic. RR., who last
week assumid lortnal possession of the road, hdve made anarranjjeuient by which the Wal>ash receivers will continue tooperate- the road. It is agreed that for the present, untd theline IB put ill good or.ier, the net earnings are to be used f trrenewal- an.
Iimprovements of the road. This agieement i.s
only provisional, and it is not stated how long it will continue'prob-bly until th - rond is sold under the foreclosure proceed-ings now ill pr()j<re.-s.—iZat^ oid O -zette.
Wisconsin rentral —The Wisconsin Central Railioad wasthm week formally denied admission to Chicago over Chicaij..&We.^tern Indiana t aiks. Treasurer Abbott ..nnouaces thaithe Ureat Western scheme for terminals will be earned out atan expense of about $6,000,000.
COMMERCIAL EPITOME.Friday Night, Nov. 6. 1885.
The week has iieen broken by a holiday for the election for
State officers, which took placa on Tuesday in several States.
The only result of much significance is the defeat of Wise,the Mahone candidate for Governor of Virginia. The autumnseason for active trade is drawing to a close, and there are nofeatures of importance to notice. There is a check to the
decline in values of many proJticts of agriculture, which gives
better promise for the trade of the coming winter and spring.
The following is a statement of the stocks of leading articles
of domestic and foreign merchandise at dates given :
Pork bbls.Beef tcs. and bblsLard tcs.
Tobacco, domestic hhdsTobaQco, foreign bales.Cotfee, Eio bags.Coffee, other bags.Coffee, Java, &c mats.Sugar hhds,Sugar boxes.Sugar bags. &cMelado hhdi.Molasses, foreign hhds.Uolasses, domestic bbls.Hides No.Cotton bales.Rosin bbls.Spirits turpentine .bblsTar bblsRice, E. I bags.Kiee, domestic bbls. and tcs.
Lird futures have been active and buoyant in the pant fewdays, the low figures to which prices had declined havingencouraged huying for the rise; but the close this afternidn is
easier, at 627c. fur November, 6'27c. for Dac-'mber, 6'33j. forJinuary, 6'40i.\ for Febru-iry and 6 470 for March. Spot lardhas been HCtive and advancing, closing at 6 35o. for primecity and 6 30@6 35c. for prime Western. Refined for theContinent hts sold fairly and closes at 6'60c. Pork has beenmuch more active at $8@$8 50 for extra primf, $9 7")(3$10
for mess and $11 75@12 2.5 for clear. Cut moits are latierly
in better request, and close steadier. PickIbI him< at 8 5.^(3
6%c., pickled bellies 5%@6i^c., and shoulders 4J^@4J^c. Otherprovisions are quiet and unchanged. The swine slaughteredat Western towns, for what is termed "summer packing"(.March 1st to Nov. 1st) numbered 4,859,000 this season, agiinst4,0"i9,000 last season.Rio coff>e on the spot has been dull, and fair cargoes clo39
nominal at 8>^@85^c. Options have declined hut cloie
steadier, with nuyt-rs at 6'75c. for Nov., 6'85j. for Jrin., 7c.
for March and 7'lOc. for May. Mild collrses have b.-en pressedfor sale at drooping prioes. Rtw sugars have declined andclose nearly nominal at 5,l^@5 7-16c. for fair lo good refining,
and refined sugars are depressed, with crus'ied quoted at
6^@7c. Molasses is also very dull. There hts been a goodDusineps in teas, including a speculative movement in For-mosa Oolongs.Kentucky tobacco his been quiet, the sales of the week
amounting to only 2.50 hhds., of which 200 for expiirt. Prices,However, are steady, ranging from 0)^ to llj^ ••. for seed leaf.
Seedle^f shows a notable reduction in the volume of husinesp,
its the sh1.-s are only 1,200 cases, as follows: 200 ca».-s 1S84crop, Pennsylvania Hivana seed, 9@15c.; 150 cases 18 •J4 crop,
PeniiBvlvHnia, 8J|'(al2c ; 150 cases 1883 crop, do., privatelerras; 150 cases 1881 crop, do., 7(ailc.; 200 cas-s ISStcrop,Liitle DuK^h. 11,813c.; 150 cases 1884 crop. New Engl ind Ha-VH.na., 10@30c. ; and 200 cises 1884 crop , Wi consiu Htvana,1.5@20.:.; also 400 biles Havana, 60o.@$l 10, and 400 bales
Smna.ra, $1 20@$1 60.
I'ne sp-cuUiioci in crude petroleum certificates, although at
times quite brisk, has developed no imp irttnt feiiure, andchanaes in prices are small, but father easier at the close at
i\.0V4.<iil01J^: crude in bbls quoted at 7^^ ^7;^ ;.; refined
ill b Js. 8%':. and in cases 9''4@10/gc.; nai)ni,.ia 7j^i;. Spirits
mrpentine nas advanced witnia a diy or two an i sold t i-day
tor N ivemiier delivery at 375^0. an 1 this price bi I f ir ih^ first
three months of next year. Rosins in f*ir deinind and firm;omraoii to good strained quoted at f 1 0"i(d$l 1.5.
At the M ihI Exchange to-day pig irou certifioat^'S Wt>ro
ull at $16 50S$17. Tin quiet and fairly st-alvat iO'lO^jl)'30;. spot, iy-95@20 10c. futures; ten lon-i J muary sold atiO Ooo. Tn plate heavy and dull at $4 40i^4 47!^. Coppeready at 10^@ 1090c. for Lake. 9!^@ 10 05 ;. for Baltimore,
||-i'/?i10 .)!• Orford, Lead dull; 4J^o. bid for domestic.Spelter flat.
Ob,*.. 1. eights have been dull and ra'es depressed by thespe-ai4tivH advance of prices for grain, ani the closd is
uns atled.
NOTEMBEn 7, 1885.] THE CHRONICLE. 52»
I
COTTON.Friday, P. M., Novembor 6, 1885.
The MovKMTtNT OP THK Ckop, as Indicated by our toleKratoifrom the Soiitli to-niKht, is (fiven below. For the week cndlnBthis evening (Nov. <!), the total receipts have reached 374,432bales, aKuiuNt 2OH.03:! tuileH last week, '301,704 twlea the previou*week and 2.J1,4UI bales three weeks since; makinp; the totalreceiptH rtinoo the Ist of September, 1885, 1,002, H?.") balua, aKiiiiistl,»>l)3,«7l bales for the same period of 188-1, showing •decrease since September 1, 1886, of 20,900 bales.
Xtetipltat— 8aL
Galveston 8,788IndlHiiuia. Ao. ...
New OrluAoa... 22,!i78
Hoblle 2,aS3
FloridM 300Bavaniiah 7,618BrmiBw'k, Ac. .*.
Oharicgton 4,073
Pt. Royal, 4o. -••.
Wilmington .... 762Horeli'd C.ifco —
.
Norfolk 3,166
West Polnt,4o 1,301
New York 834Boston
700Baltimore
Fhlladolp'a, Ac. ....
Totals this week 52,813
Jfon.
10,107
17,410
2,485
9,314
S,116
1,046
6,4S8
134
180
52.230
Tuti.
4,707
24,696
3,020
5,773
3,531
821
5,617
326
iVo
48.601
Wtd. nurt.
5,883
11,227
1,331
7.728
4,060
660
5,519
97
114
36,619
1,674
9,376
1,618
7,093
3,001
586
4,234
43
27,626
JW.
2,379
18,028
1,920
2,105
5,418
7404,689
382641476
3,071
13.128
953
1,002
933
56.534
' Toiat.
33,538
103,315
12,787
2,495
42,971
74024,469
3U24,516
47628,06514.432
2,344
1,702
1,330
274,422
For comparison, we give the followinK table showinf? the week'stotal receipts, the total since Sept. 1, 1883, and the stock to-night,and the same items for the corresponding periods of last year.
KeeeipU to
Xor. 6.
Galveston ...
Ind'nola,Ao
New Orleans.
MobUeFlorida
Barannali....
Br'sw'k.&o.
Charleston...
Pt.Royal.&oWilmington..
M'lieadC.AcNorfolk
W.Polnt.&c.
New York...
BostonBaltimore . .
.
Pblla<lera,<fcc
1835.
This
Week.
33,538
103,315
12.76
2,or,
42,971
74021,469
3624,516476
28.U65
14.43^
2,344
1,702
1,330
Since Sep.
1, 1885.
291.103781
427.G2162.34412,456
338.469
6,232
217.2362,326
48,293
1.729
166.743
83,607
4.288
4943,521
3.612
Total 274.422 1.682.875 257,04111,692.871
1884.
Week.
23.509293
82.637
12,405
1,793
40,763
31,601
31
4,969
45029,30620,402
1,214
3,093
782.502
Sittee Sep.
1, 1884.
BtoeK.
1885.
231,4576,937
411,36369,41715,351
347.9094.910
251,958827
46,2822,461
177,55695,592
2,950
19,821
3177,713
106,208
201.51016,912
2
100,690
70,602
118
9,480
32,309
128,8696,310
13,013
4,458
1884.
71,026
237,561
11,823
117,898
90,824
31
20,626
56.602
5.451
93,353
6.310
32,4843.528
690,483 749,.'.22
In order that comparison may be made with other years, wegive below the totals at leading ports for six seasons.
Tot. this w'k. 271,422 257,041 267,604 232,251 233.320 215.842
Since Sept. 1. lfi62.'«75 1692,871 1733,511 1685,917 1657,366 1957,906Ualvesion luoluiles Indianola; Charleston Includes Port Royal, Ac;
WilmlnKtonlucluilen Morehead City, Ac; Norfolk includes West Point,Ac.
The expons for the week ending this evening reach a totalof l.il,«l53 bales, of which 79,-"j33 were to Great Britain, 31,953to France and 50,178 to the rest of the Continent, while thetocks as mHde up this evening are now 690,483 bales. Beloware the exports for the week and since September 1, 1885.
Export*
from—
OalvoBtonNew Orleans.,
MobileFlorida
SavannahCbarleslon*..,
WUnilnjrton...
Nortolk+New YorkBostonBalttmore... .
Phlladelp'B,Ae
Total
Wuk Bniirui .Vo
Exported to-
v.a.
Brtt'n.^
9,888
le.aoa
4,037
12.491
S.SI4
5.200I
B,»75|
12.SJ8I
l,28li
S,S03
l.Slt|
.J
20.641
OonU- Tbtal
Week.
211
11.820
12,74 J
1U,235
9.f
48.IS4
4,037
26,195
25.719
5.200
S.»73
80,810
1,2S1
8.503
1.841
From StpU 1. 1885. to Ifov. 6, 1888.
Exported to—
Oreat
Britain, ^^w*
4,147
51.378
S.IOO
IS.lOl
79.982; 21,953 50,178 1Sl,Se3
Total IHS4.,. tyiMM 22,l'80 58,»9« 10'>.n20
86,442
88.805
4,037
90„540
85,949
22,t>SS
47,109
97,162
17,716
20.729
10,279
"491.229 85.704
SSLlia 91.37'i
9,778
ContU I
ntrU.I
""f*^
20,HI9; 81.404
B,877i 218.260
4,087
77.947
96.118
0,100
9,350
41^263
819
3.930
400
133,087
106,748
31,993
52,495
148,203
18,061
24.279
10.479
2-7,733: 824.668
247.«1^ "Wil-d
* loctuden ex(>«>ria troiu I'l.irL ttujal. 4c.lool'ides exports from West Point, «e.
In addition to above exporti, oar ttX^^nimt to-night alao glv*OS the following amount* of cotton on hipfaoard, not oleared,at the ports named. We add limilar Ogani (or Naw York,which lire |iritiiarud for our niieoial use tv Maian, Canr Yala* Lamlwrt. 89 Broad Street. /» "*
Nov. 6, ikX—
ITewOrleana.MolilluOharleeton ...
SavannahQalveston.. .,
NorfolkNew York.. .,
Other ports...
Total 1885.
rotal 1884 .
rotal 1883 .
On BMpboard, not tUar*A-fur
9reMJMtein.
27,0761.0003,6003,600
43,8198,0187,0009,000
101,911
135,295121,531
froHtet.
17,803None.None.600
3,365None.None.None.
21,758
36,39318,878
24.487None.12.60O32.6004.837Nona.S.S.V)4.000
86,364
96.94354,280
Oow«>
6,301Nona.1.5008.6U09.3843,784NOIM,one.
23,469
18,00110,441
IMWL
78,6671,000
16,00040,20001,38611.80010,86013,000
233,502
3A0,703203,080
438,981
403.S10e4l,48»
The speculation in cotton for future delivery has been quitoactive at this market for the week under review, with afurther and material decline in prices. The comparativelylow figures which were reached at the close of our last didnot develop confidence. There was, however, from pruden-tial considerations, some covering of contracts, and somegrowth of opinion that values had pretty nearly " touchedbottom." This derived some support .from the Manches-ter advices, and rather unfavorable weather for picking,which has been reported from ditf<>rent parts of theSouth from day to day. Yesterday a lower opening was fol-
lowed by an irregular closing, the distant deliveries showingmore strength. To-day an early decline to the lowest figures
of the season, under weak Liverpool advices, was followed bya partial recovery on a demand to cover contracts; but there
was a quiet closing. Cotton on the spot has continued dull
and prices have declined. Quotations were reduced 1^0. onSaturday and again on Wednesday. To-day the market wasquiet and unchanged at 9?^c. for middling uplands.
The total sales for forward delivery for the week are 485,800
bales. For immediate delivery the total sales foot up this week1,523 bales, including — for export, 1,523 for consumption)— for speculation and in transit. Of the above,— txales
were to arrive. The following are the official quotaUoas for
*InclU(1e8 sales In September, 1886, for September, 130,200: Septem-ber-October, for October, 301,700. • > ,
'joi»«:iu
_Rr.^ ^? Included m tbe above table, and shall oontlnne eachwl to rive, the BveraKe price of futures each day for each month. Itwill hf found under each day following the abbreviation " Aver " The»v«ra>re for each month for the week Is also given at bottom of table.TTMnsferable Orders—Saturday, 930o.; Monday, 9-35c.- Tuesdav———I.: Wednesday, 9-2.5o.; Thursday, 9-25c.; Friday. 9-25o
- i The following exchanges have been made during the week:
V ffa Urt' J!J 2^''l! l-!iS^P^'^-J°^ ""''• OS P"l- to e':o'»- ^ 00 Nov. s. n. for•n«''5-*°*"f<''»-'00Nov. for Jan. regular.
' IS rjl" ^ ^""i- 222 ^<'- '°"' Ja"- -12 i>d. to exoh. 200 Jan. for Feb.
•09 S' to MPb' iSS v""-1"' ^"^^ 'SS Pj- *» «^'"'»- 2.000 Deo. for Mav,
*l^: roS. lSSS"e^./o";j°^''; •°?„rJi,|X!'"^""^"^ « "• ^^-^
The Visible Supply of C!otton to-night, as made up by cableand telegraph, is as follows. The Contmental stocks, as well asthose for Great Britain and the afloat, are this week's returns,and consequently all the European figures are brought downto Thursday evening. But to make the totals the comnletefigures for to-night (Nov. 6), we add the item of exports fromthe United States, including in it the exjwrts of Fricfey only.
1885. 1884. 1883. 1832.atoch at Liverpool l)ales, 383,000 437,000 43H,000 461,000Stock at London 11,000 58,000 42,000 77,000
Total Great Britain stock
.
391,000 495,000 430,000 538,000Stock at Hamburg 3,300 3,500 2,200 3,500Stock at Bremen 32,400 35,600 50,600 29,400Stock at Amsterdam 25,000 33,000 32,000 7,200Stock at Rotterdam 400 800 1,500 1.800Stock at Antwerp 2,100 1,700 5,100 300StockatHavre 91,000 140,000 123,000 127,000Stock at Marseilles 2,000 5,000 5,000 2,600Stock at Barcelona 34,000 13,000 29,000 27,000Stock at Genoa 7,000 8,000 6,000 8,200Stock at Trieste 8,000 11,000 10,000 6,300
Total Continental stocks 205,200 251,600 264,400 213,300
748,60'J45,000
4 4 S!,00034,000
749,522100.35010,800
744,40090,000
427,00045,000
816,56926e,01517.000
751,300131,000439,00016,000
644034173,16713,220
Total European stocks 599,200India cotton alloat for Europe. 27,000Aiuer'n ootfu alloat for Eiu-'pe 477,000Egypt,Brazil,&e.,atltforE'r'pe 28.000Stock in United States ports .. 690,483Stock in U. 8. interior towns.. 225,860(Jutted States exports to-day.
.
57,S24
Tot-a visible supply 2,105,307 2.194,272 2.437,934 2,175,711Of the above, the totals of American and other descriptions are as follows:Amencaii—
Liverpool stock bales 26*000 226,000 228,000 191,000Continental stocks 124,000 105,000 160,000 93,000imericanafloat for Europe... 477,000 418,000 427,000 439,000United States stock 690,483 749,522 846,569 644,034Onlted States interior stocks.. 225,860 160,350 268,015 173,157tTulted States exports to-day.. 57,824 10,800 17,000 18,220
Total American 1,810,167 1,699,672 1,946,584 1,558,411Satt Indian, Brant, die—
Total East India, 40 265,200 4)4,600 491,400 617,300TotalAmerioan 1,840.167 1,699,672 1,946,534 1,558,411
Total visible supply 2,105,367 2,194,672 2,437,934 2,175,711Price Mid. Upl., Liverpool S^ied. b'^i^A. 5i6ied. 6iad.PriceMid.Upl., New York.... aJse. 9i»i6C. lOijo. lO'igO.
^y The imports into Continental ports this week have been18,000 bales.
The above figures indicate a decrease in the cotton in sightco-night of 89,:305 bales as compared with the same date of1884, a decrease of 333,617 bales as compared with the corres-ponding date of 1883 and a decrease of 70,344 bales ascompared with 1882.
At the Interior Towns the movement—that is the receiptsfor the week and since Sept. 1, the shipments for the week, andthe stocks to-night, and the same items for the correspondingperiod of 1884—is set out in detail in the following statement.
The above totals show that the old interior stocks have^ncr«fiw«d during the week 50.732 bales, and are to-night 63,510
NOVKHBBR 7, 18SS.] THE CHRONICLE. 581
boles more than at the same period last year. The receipts attlaa same towms have boen31,r>!)3 liates nt'jr) than the nameweek last year, and sinco Sjptoinber 1 the receipts at all thetowns are 176,935 balea intrc tli.in for tlio same time in 1884,
Quotations for Middlino Cotton at Otiibb Mabrbts.—In the table belonr we give the closing quotations of middlingcotton at Southern anuother prinoipiu cotton markets for eacoday of the past week.
Wtek endingKoe. 6.
'ton . .
.
i on .
.
I -ton-.v .
.
i;,i . . "i-o....
i>liii.. .1.411 Ilia.
AuKint ti
MeinpliiH ....
St. LuuIbCiuclunatl...LoukviUe ...
obosLta quoTATiom for kiddlimo oottok on—
Salur.
91,69
8>»ie90>80\
JTon.
9
in'"8l8i«99>89%9%9i»i«
81»t«»'89
i>9^HI4
Tutt. Wtdnei.
99
8I>,.
9%9\9»89'»ia813,899
TKuri. /W.
81B,« 8i«ie9 U8i»,« Si»,o
81'i« 8^a'»,«
8:fi.8i»,9! Id g9H) 9K,
"^S"*9>4988
8\»I3i4 8I>H«%9 8lB,a9 99^ 9U9i« 9>8
Receipts prom the Plantations. —The following tableindicates the actual movement each week from the plan-tations. The flgures do not include overland receipts norSouthern consumption; they are simply a statement of theweekly movement from the plantations of that part of the cropwhich finally reaches the market through the outports.
The above statement shows—1. That the total receipts fromthe plantations since September 1, 1885, are 1,903,669 bales;in 1884 were 1,8.50,6.52 bales; in 1883 were 1,997,604 bales.
2.—That, although the receipts at the outports the past weekwere 274,432 bales, the actual movement from plantations was334,7.59 bales, the balance going to increase the stocks atthe interior towns. Last year the receipts from the plantationsfor the same week were 27.5,979 bales and for 1883 they were304,119 bales.
Amount of Cotton in Sight Nov. 6.—In the table belowwe give the receipts from plantations in another form, and addto them the net overland movement to Nov. 1, and also thetakings by Southern spinners to the same date, so as to givesubstantially the amount of cotton now in sight.
1885. 1 1884. 1883. 1882.
Reoelptg at the ports to Nov. 6.Interior stooka on Nov. 6 Inexcess of September 1
1.662,875
210,794
1,692.371
157,731
1,733,511
264,093
1,685,917
195,255
Tot. receipts from planta'tnsNet overlanrt to November 1..Soatlieni consiunpt'u to Nov. 1
It will be seen by the atmve that the increase in am mnt In sifchtto-night, as compared with last year, Isll7,S99 bales, the decreaseas compared with 1883 Is 66,638 bales and the increase over 1882 1882,790 bales.
Weather Reports by Telegraph.—The weather has, as arule, been satisfactory for crop gathering during the week.Killing frost is reported from Stateburg, S. C, and Wilson,N. C, and in other sections there have been light frosts. Tbestrike of cotton and railroad employees at Galveston hasbrought the commerce of that port almost to a standstill.
Galveston, Texas.—It has rained on one day of the week,the rainfall reaching twenty hundredths of an inch Thecause of the small receipts this week is the strike of railroadand cotton-press employees, screwmen and stevedores, whichstill continues. The thermometer has averaged 70, rangingfrom .M to 79. Rainfall during October two incUes and twentyhundredths.Indianola, Texas.—We have had rain on two days of the
week, the rainfall reaching four hundredths of an inch.Picking is progressing finely. Average thermometer 70,highest 81 and lowest 56. During the month of October therainfall reached seventy-one hundredths of an inch.
Palestine, Texas.—It has rained hard on two days of theweek, the rainfall reaching three inches and seventeen hun-dredths. Picking has been interrupted by the rain. Thethermometer has averaged 64, the highest being 83 and thelowest 40. Rainfall during the month ol October one inchand forty-seven hundredths.New Orleans, Louisiana.—\t has rained on two days of
the week, the rainfall reaching one inch and thirty-five hun-dredths. The thermometer his averaged 63.Shreveport, Louisiana.—Rainfall for the week two inches
and eighty hundredths. The thermometer lias averaged 61,the highest being 77 and the lowest 41. . j
Oolumbut. MUiUsippl.—U hm rained on two dar« of th*week, the rnlnfnll ronchlng flfly-wvon humlredtha of an Innh.Averngf thcrinoin'-ler Wi, highest 71 nn<l lowwt 89. Rainfallfor October two inchiit ami -Ixt'-cn hiindriHJths.Leiand, if/*.«/*.v/7)/>/.—Ti-li'^ram not rcceireid.LitlU Rook, Arkans iH.—'^tAi'g^Tum not received.Helena, Arkansas.—We linvu had rain on three dan of
the week, and there are indications of more. The nunfaUreached two inches and fourteen hundredthn. Alxnit two-thirds of the cnip has been picked, and the plant.-m arenifiri .
H,, . it freely. The thermometer has ranged fr<im 44 to70 _c.59.
*
.! 7'en7W,v*««.—It has rained on four days of theweek, ami there are Indications of more to-day. Tlie rainfallreached two inches and twelve hundredthx. Marketing make*good progress, but picking has been interfered with by therainy spell. The thermometer has ranged from 40 to 71,averaging 56. During the month of October we had rain ooeight diiyg, and the rainfall reached one inch and eighteenhundredths Tlio thermometer ranged from 42 to 81-5, andaveraged 60.
Nashville, Tennessee.—It has rained on two days of theweek, the rainfall reaching fifty-one hundredths of an inch.The thermometer has averaged 53, the highest being 66 andthe lowest 30, During the month of October the rainfallreached two inches and ninety-nine hundredths.
ifoftiVe, 4te&amffl.—The early pirt of the wefk was clearand pleasant, but during the latter portion it has rained con-stantly on two days, the rainfall reaching one inch and fifty-three hundredths. The thermometer has averaged 59, rang-ing from 43 to 71. Rainfall for October one inch and nineteenhundredths.Montgomery, Alabama.—The early part of the week waa
clear and.pleasant, but during the latter portion there hasbeen rain on two days, tiie rainfall reaching twenty-nine hun-dredths of an inch. Average thermomet 'r 58, highest 69 andlowest 40. Rainfall during October two inches aad thirty-eight hundredths.Belma, Alabama —Telegram not received.Auburn, Alabama.—The early part of the week was clear
and pleasant, but during the latter portion it has been showeryon two days. The rainfall reached thirty-one hundredths of aninch. There has been light frost this week. The thermometerhns averaged 55'3, tbe highest being 70 and the lowest 39'8.
During the month of October the rainfall reached five inchesand eight hundredths.Macon, Georgia.—It has rained very lightly on one day of
the week. Good picking weather.Columbus, Georgia.—We have had rain on one day of the
week, the rainfall reaching thirty hundredths of an inch.Average thermometer 52, highest 60 and lowest 40. C^oberrainfall three inches and twenty-four hundredths.Savannah, Georgia.—It has rained on one day and the
remainder of the week has been pleasant. The rainfallreached ten hundredths of an inch. The thermometer hasaveraged 59, the highest being 76 and the lowest 47. Duringthe month of October the rainfall reached seven inches andsixty-seven hundredths.
Augtista, Georgia.—We have had light rain on two days,and the rem linder of the week has been pleasant. The rain-fall reached sixteen hundredths of an inch. Planters aremarketing their crop freely. The thermometer has averaged53, ranging from 33 to 77. Rainfall for the month for Octoberfour inches and fifteen hundredths.
Atlanta, Georgia.—^Telegram not received.
Charleston, South Carolina.—It has rained on two days ofthe week, the rainfall reaching thirteen hundredths of aninch. Average thermometer 59, liigheat 72 an.i lowest 46.
Stateburg, South Carolina.—It has rained on one day of theweek, the rainfall reaching twenty-two hundredths of an inch.
There hiis been light frost on two nights on low grounds andone night in the hills, and killing frost on one night on lowgrounds. The thermometer has averaged 53-1, ranging from39 to 67. During the month of Ojtober the rainfall reachedthree inches and fifty-two hundr.'dths.
Wilson, North Carolina.—We have had rain on one day ofthe week, the rainfall reaching eighty-three hundredths of aninch. There has been killing frost on one night and ice formedon two nights of the week. The thermimeter has rangedfrom 31 to 66, averaging 53.
India Cotton HIovement from all Poets.—The receipts
and shipments of cotton at Bombay have been as follows for
the week and year, bringing the figures down to Nov. 5.
The above totals for the week show that the movement fromthe ports other than Bombay is 4,500 bales less than sameweek last year. For the whole of India, therefore, the total
shipments since January 1, 1885, and for the corresponding
periods of the two previous years, are as follows:
BXPORTS TO BCEOPB FROM A.LL INDIA.
Bh'vmenttto all Europe
from—
1885. 1884. 1883.
TMtweek.
SinceJan. 1.
Thisweek.
SinceJan. 1.
TkUweek.
SinceJan. I.
BombayAU other ports.
4,0004,000
691.000207,000
7,000 1,148,0008,500 284,500
6.000 1,233.00C6.200 1810X
Total 8,000 398.000 15,500 1,432.500 12,20o!l,417,00n
This last statement affords a very interesting comparison of
the total movement for the three years at all India ports.
Alexandria Receipts and SmPMENTS.—Through arrange"ments we have made with Messrs. Davies, Benachi & Co., ofLiverpool and Alexandria, we now receive a weekly cable of
the movements of cotton at Alexandria, Egypt. The followingare the receipts and shipments for the past week and for thforrespondin^ week- of the previous two years.
Alexftnctria. Eaypt,November 4.
Beoelpts loantars*)—Tills week...Binoe Sept.
1885.
180,000673,000
1884.
170.000613 000
1883
190,000632.000
Exports (bales)-To Liverpool.
.
To Oontlnent
.
Total Europe.
TMtweek.
SinceSept. 1.
140005.000
37.00014,000
19,0001 51,000|
TMtweek.
SinceSept. I.
11,0005,0o0
Thisweek.
11,0005,000
16,0001 59,000 16,000
49.00010,0001
8i7ict
Sept.
41,00014,000
55,000* A cantar Is 98 lbs.
This statement shows that the receipts for the week endingKov, 4 were 180,000 cantars and the shipments to all Europe19,000 bales
Manchester Market.—Ourrepott received from Manchesterto-night states that the market is easy. We give the pri cesfor to-day below, and leave previous weeks' prices tor com-parison.
To Hull, per steamer Marengn, 1,4 85 1,185To Glasgow, per steamer Alexandria, 42,i Ethiopia, 146 571To Havre, per steamer Labrador, 1,312 1,312To Bremen, per steamer Rheiu 500 500To Hamburg, per steamers Hammonia, 1,434. ...Polaria.
1,673. ...Rhaetia, 1,750 4,857To Kotterdam, per steamer Vf. A. Scholten, 418 418To Antwerp, per steamer Bclgenland, 69 f 693-To Genoa, per eteamer Independente. 200 20O
New Okleans—To Llvernool, per steamers Alava, 4,4<»0Floridiau, 6,800. ...Hibtoilan, 4,628. ...Red Sea, 6,500.... 22,328
To Havre, per steamer N.inies, 8,536 8,53t>-To Bremen, per steamers Cassius. 3,000 Donar, 4,fi93 7,3vl3To Antwerp, per steamer Nantes, "17 81TTo Keval, per steamerx Uagu, fi,200 ...Govlno, 6,100 11,300To Vera Cruz, per steamer E^taban de Antunano, 1.636 1,636
Savannah—To Havre, per steamer Pauam:i, 5,100 Upland 5,100To Reval. per steamers Aiierley, .'i,500 Upland ...Decrliound,
a.S.iO Upland.. ..Hattlibl, 5,5,^0 Uplaud 14,900To Han go. per steamer Deeruouiid, 1,000 Upland i,000To Geuoa, per steamer Eglantine, 4,000 Upland 4,000
Chari.kston—To Havre, per stewmer Nellie, a,""!,*! Upland 3,515To Sebastopol, per steamer Huntsman. 5,6 5 Upland 5,655-'lo Barcelona, per steamer Lizzie, 3,750 Upland per brigConeeller, 1,090 Upland 4,840'
Galveston—To Liveriionl, per steamers Almandiue, 4,797...Simoon, 5,310 Victnria, 5,303 15,410
To Bremen, per steamer Weser, 4,654 4,6,54Wilmington-To Liverpool, per steamer Carn Marth, 5,260 5,260
To Bremen, per steamer Carbis Bay. 4,MOO! 4,900Norfolk—To Liverpool, per steamers Carn Brae and Mouarcb,
11,780. ...Roma, 5,340 17,120Baltimore—To Liverpool, per steamer Baltimore, 3,i57 3,257"
To Antwerp, per steamer Lero, 2.t>50 2,650BO8TON—I0 Liverpool, per steamers Kansas, 1,207 Pavonia,
557 1,764.PHnjLDELPHi*—To Liverpool, per steamers BritisU King, 1,141
....LordClive, 600 1,741To Antwerp, per steamer Nederlaud, 200 200
Total 169.792
The particulars of these shipments, arranged in our usualform, are as follows:
Hotter- Reval,Bremen dam a Uungoe* Uani- Aiit- <f Seijus- Bnrce-
columns to-day will be found our overland movement broughtdown to the first of November.Egyptian Crop (Correction).—It is hardly necessary to
say that the figures 4,900,000 to 5,000,000 cantais in our introduction to our Alexandria correspondent's letter last weekwere a misprint and should have been 3,900,000 to 4,000,000cantars.
East India Crop Prospects.—Our cable from Bombayto-day states that crop accounts continue favorable.
JuTE Butts, Baooino, &c.—There is a steady demand forlagging, and parcels are moving at a satisfactory rate. Ordersare still coiring to hand, and though not for large lots theytake considerable stock to fill them. No change is reported inprices, and lots are to be had at 9c. for 1}^ lbs., 9i^c. fort% lbs., lOJ^c. for 2 lbs, and lie. for standard grades. Buttsare in moderate demand, though the market is not active.Some business has been done on the basis of 1 ll-16@13^c. forpaper grades and 2@3'^c. for bagging qualities, some 2,.'i00
bales finding takers, and the market closing at these figures.The stock on the spot is 59,300 bales, which, with 63,353 bales onthe way, give a visible supply of 118,653 bales, against 240,193bales same time last year. I
New Vork.N.Orleans,davannab..Charleston.Galveston .
WilmingtonNorfolk....Baltimore..BostonPhlladelp'a
Total... 77.660 18.403 22,304 4,778 32,855 4,840 4,200 168,79aIncluded in the above totals are 1,485 bales from New Y -rk to Hull
571 Ijales to Glasgow and 1 ,636 from New Orleans to Vera Cruz.
Below we add the clearances this week of vessels carrying,
ootton from United States ports, bringing our data down tothe latest dates:
Galveston— For Liverpool—Oct. 31—Steamers Countess, 5,325; Harbinger 4,S63
New Orleans-For Liverpool— Oct. 31—Steamer Costa Rican, 3,256Nov, 3—Steamer West Indian, 1,985. ..Nov. 4—Steamer Architect,4,647.
The opening, highest, lowest and closing prices of futures atLiverpool for each day of the week are given below. Theseprices are on the basis of Uplands, Low Middling clause, unlessotherwise stated.
tT* rA« prue» are ifiten in pence and 6iUu, thu$: 5 62 meant5 62-64(i., ana 6 03 mean* 6 3-64<l.
November..NoT.-l>eo...
Dec.-Jan
Jan.-'eb....
Teb.-MarchMarch-AprApril-Mar-
•
May-June...
June-July.,
8al. Oct. 31.
'ipen High Low. Otot
*.
5 08
5 07
5 08
5 10
S 13
5 10
5 20
5«3
il.
SOS6 07
5085105135 18
520523
d.
5085 07
5085 10
5 13
516520623
It.
SOS5 07
508S 10
6135165 20
523
Mon., Not. t2*
d.
5056055 00
6086 12
5 15
SIS5225 25
d.
5 07
6 07
5 07
509613516619523526
Open Bieh Lov. dot.
d.
5 07
6076 07
619
4.
5055055065085125 15
5185 22
523
6 16
6195 23
528
Tues., Not. 3.
Open Bifh Lovi. Oim,
d.
5 03
5075 08
5 10
5135 17
520524527
d.
5085 08
5085116 14
5175 21
524527
d.
5086076085 11
513517520S246 27
d
5085085085116146175 21
5 24
627
Norember..Mot..Deo.
Dec.-Jan .
Jan.-Feb..B'eb...March.
March-Apr.April- VI ay..
May-June...
June-July..
Wednea., Not. 4.
open High Low. Otoe
5106105 10
5135165 19
582526629
d.
5 10
6105 10
5 13
5 16
5 19
5 22
S2«529
d.
5 08
5085085 11
5 14
5 17
5 21
524527
d.
5 08
5 08
5085116146 17
5 21
524687
Open Hi«ft Low. Cloi
Thiirs.i Not. i.
5066066065 09
6 12
5 15
519522626
d.
5066b«5065095 12
515610622526
d.
5066065065096125 14
5186 22
5 25
4.
5 06
SOSSOS5 09
6125116 18
6 it
its
Prl«« Not* tf.
Open High Una. CSos
4.
5 04
6046045 07
6 10
5 13
517620624
d. d.
5 05 5 01
6056055 07
5 10
Sis5 17
5 21
524
5 04
5045 07
6105135175 20
5 24
iL
6 05
6 055055076105135 17
6 21
5 24
BREADSTUFFS.Fkidat. p. M., November 6, 1886.
The flour market opened dull and depressed for the week
under review, sut has latterly become more active, with prices
showiiig more steadiness and in some cases a slight improve-
ment. Large Western mills have curtailed production, and
local dealers have purchased with more confidence. The
export to Europe, however, has continued on a moderate
scale.
The wheat market has been variable. The opening was
quite depressed ; the large visible supply and the limited
export continued to exert a weakening influence upon values
But the warlike news from Eistern Europe caused a revival
of speculation and some recovery in values. There was,
however, little or no improvement in the demand for wheat
on the spot, whether for export or milling. To-day a part of
Indian com has made an important advance for primegrades on the spot and for early delivery, Th 're hive been
considerable supplies of new ojrn, in very damp condition,
w'lich have suld very low ami give a wide range to values;
but of prim<i qutlities tbere has been an urgent demaad to
flu November freight enga^emants.^and holders have been
eiMbled to obtala mora montjr; mad althoagb It it undMMoodth»t large quantltlet »r« In prooeM of ihlpmrat from tb«Wmit, the early deliveries have shown inornaalng strength.
Yellow com continues to be negtccted, but there iias bem •fair inquiry for white. To-day there was a slight reaottoo
toward easier prices, but a steady closing.
DAILr OLOSIMO PSIOSS Ot SO. » MIXSD OOaX.aat. Hon.
In elevator 52>4 53NoTiinlior rtnltvery Sl'i Bl'iDi'i . • livery 49»» ftOJii , ry 4a>s 47>4F.n ivery. 461s 4fl\May il.llvnry 463g 4UI«
Oats have continued to
1n
Wtd.5453''t
47 <s47»4,47m
Thwrt.55%5.1^sm47>,47
The
54%Bl%48
47i*
exportimprove slowly,
demand has continued very brisk, and speculation has sym-pathized to some extent with the advance in corn. To-daythe market was quieter, but prices were about steady.
DAILY OLOSIKO PRICKS OP NO.
Sal.November delivery 31''eDeoeuilMir delivery 32>9January deliveryRye is dull and unsettled.
the moment there is little
2 OATS.
JTon. Tuee. Wed. Thwrt.3l\ j,C 32>4 32>432% ZS 3^*4 S'**SB's B' 31 setBirley very firmly held, but at
doing. Buckwheat is quoted at
FH331434>4
60(3530.
The following are the closing quotationsPLooa.
Fine »bbl. $2 70» 3 50Suiierllne 3 00« 3 65BurInK wheat extras. 3'2.'<9 3 8UMluu. clear and stni't. 4 15 a 5 00Wluterahliip'k'Bxtraa. 3 65» 3 80Winter XX & XXX.. 4 15aPatents 4 7.5»City 8Qlpi>lUKez 3 75'»
Boathem bakers' andfamily brandt f I 75*
Byetloar 3 259(>>m meal—Weatem, tio n 10*Rrandywtnn. *«. .
The movement of breadstuSs to market is indicated in thestatements below, prepared by us from the flgures of the NewYork Produce Exchange. We first give the receipts at Westernlake and river ports, arranged so as to present the compara-tive movement for the week ending Oct. 31 and since July 2Sfor each of the last three years:
636333<s4033%36 >•
9581658080
SM«<pt< at— rtour.
ChlOKOMilwaukee .
.
ToledoDetroit......
Cleveland. ..
8t.Ix>ula ....
Peona ,
Duluth
:i;i>lJ.196UM
98,173
104.428
4,900
4.484
4.592
23J238
1
.Stull.SOUM BMh.Mlbt
Tot. wk. "86
game wk. '84
Same wk. '88
Strut July 2S
1886
1884
241.550
282,606
277.060
2.257,180
3.88>^.0»1
2.717.635
Wheat. Com,
559.190
233.121
29:M24279.244
23.717
187.188
7,865
636.000
2.199.749
3.680,283
1.1? 1.174
26.981.976
48.144.867
34.389 045
1,161.641
26.880
63,746
5.91$
6.000
S32.9t5
198.890
Su<li.32 UU ButhASIbt BuehM Ute
Oal$, Bartey. /(pfc
1,796.520
1.065.421
1,511.121
27.415.33:
2S.539.U8
37.0l0.82i
674,341
84.400
14.402
3.444
90.990
198.561
995.455
1.241JS51.253.tf25
1JS6S.46:I
23.477.436
2J.378.851
2i.Mt.ll4
343.667
19l,»75
26.400
49.47S
13.280
115.544
19.S0S
T60.039
•93 237
960,701
6.S32.9S0
5.294.08-2
S.946,02:<
47.lieR
S,760
T,817
34.911
14.4SS
ll7.»M161,518
i)0»,445
1X9.04SS.862.K57
S.71 8.22 s
The exports from the several seaboird ports for the weekending Oct. 31. 188.), are shown in the annex-td statement:
SximrtMfrom— Wheal. Com.
Buth.
Ftour. Oatt. Rye.
Buth.
Pku.
Bush. Shit. Biuh. Buth.New York 227,119 2ifj.l58 70.093 350,310 1,144
The visible supply of grain, comprising the stocRs in granaryat the principal points of accumulation at lake and seaboardports, and in transit by rail and water, Oct. 31, 1885 :
THE DRY GOODS TRADE.Frldav, P. M., November 6, 1885.
Business in the wholesale branches of the dry goods trade
was fpasmodic and irregular the past week, operations having
been checked to some extent by the recurrence of elections in
many States, and the observance of Election Day in this city
as a close holiday. Under the influence of colder weather the
early part of the week, there was a slightly increased demand
for seasonable goods, but selections, having been governed by
positive requirements, were only moderate in the aggregate
amount. Transactions in certain fabrics adapted to the
spring trade were continued on a fairly liberal scale, jobbers,
converters and cutters having placed numerous orders (for
future delivery) with agents representing domestic manufac-
turers. Some very fair orders for spring and summer fabrics
were also booked by importers, and distributers are evidently
disposed to take a hopeful view of the business outlook. The
jobbing trade has been quiet, as usual at this time of year;
but a fair average distribution of both st9.ple and department
goods was made by jobbers in this market and throughout
the country. Values have not materially changed, and really
desirable goods are by no means as plentiful as at the corre.
sponding time in recent years.
Domestic Cotton Goods.—The exports of domestics from
this port during the week ending Nov, 2 were 3,571 packages
and the principal shipments were 1,944 to Great Britain, 536
"to Argentine Republic, 468 to Hayti, 172 to Brazil, and 1 12 to
Santo Domingo. As a whole, the market for staple cotton
goods was very quiet, but there was a fairly g!>od business in
some descriptions. Brown sheetings were in light and irregu-
lar demand by jobbers, but converters were free buyers of
certain brands. Bleached goods, wide sheetings and cotton
flannels ruled quiet, and corset jeans were dull, while there
was only a moderate business in grain bags, silesias and rolled
jaconets. Cottonades were in better demand by cutters and I
the clothing trade, and there was a steady call for small par- I
.
eels of denims, tickings, fancy duck and other colored cottons,
at unchanged prices. Print cloths were active and very firm
at a further advance, extra 64x64s having sold at 3 3-16@3>^c.,
and 56x608 at 2 13-16c, Prints were quiet in first hands, asidefrom indigo blues and shirtings, in which considerable busi-
ness was reported. White goods, quilts and curtain materialscontinued in good demand for future delivery, and some good-sized orders for cotton hosiery were placed with the mill
agents.
Domestic Woolen Goods.—There was a good steady movement in men's-wear woolens in execution of back orders, andstocks are so well in hand that all desirable makes are firmly
held. New business in clothing woolens was however com-paratively light, and mainly confined to a few speci.=iltie8.
Nearly all the most popular styles of cassimeres, suitings,
trouserings and worsteds adapted to the spring trade areunder the control of orders to the extent of the season's pro-
duction, and the general condition of the market for men's-wear goods is much more satisfactory than for years past, the
diversification of production having largely contributed to
this result. Ladies cloths, tricots, cloakings, Jersey clothi
and stockinettes were severally in fair demand, and there wasa steady call for small parcels of all-wool dress fabrics, andsoft wool suitings, for ladies' wear. Kentucky jeans andsatinets ruled quiet and steady in price, and there was a mod-erate business in flannels, blankets, carpets, shawls, skirts,
wool hosiery, knit underwear and fancy knit woolens. Afeature of the week was an auction sale of 1,000 packagesWillowdale white bed blankets, which were damaged bywater and smoke at a recent warehouse Are. The goods werein poor condition, but the entire offering was readily disposed
of to good advantage.
FoKEioN DiiY Goods.—Importers continued to receive fair
orders for specialties in dress goods, &c., for next season, butthe demand for immediate distribution was light aad irreg'ular.
Silks and velvets continued quiet in first hands, but black
velveteens were in fair request. Dress goods were mostly
quiet, as were neaily all descriptions of men's-wear woolens.
Linen goods, laces, white goods and embroideries were sever-
ally quiet, and there was but a limited business in hosiery andgloves. It was an " off week" in the auction rooms, the offer-
ings of foreign goods having been small and unimportant.
Importations of Dry Cooda.The importations of dry goods at this port for the week
ending Nov. 5, 1885, and since January 1, and the same facts
for the correspon '1 : .- oeriods are as follows:
H
f o \a •
a;
1
s
1
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|i
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tares
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t
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si
• : ; : ; o: : : : : i
OS 05K H* a,
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uto"jIo MK^WW
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f
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i
a cor>cowao»QcbboinVi
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