october 7, 1876, vol. 23, no. 589 - fraser · 2018. 11. 6. · kmm...

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kmm HUNT'S MERCHANTS' MAGAZINE, REPRESENTING THE INDUSTRIAL AND COMMERCIAL INTERESTS OF THE UNITED STATES. VOL. 23. SATURDAY, OCTOBER 7, 1876. NO. 589. CONTENTS THE The GconomistB and BanKcrs In Council 359 The Clearlng-llouse Annual Re- port 840 Ciirrency Changes to October 1.. . 341 Financial Review of September... Hi Imports and Exports for August. . 344 THE BANKERS' GAZETTE. Honey Market, U. S. Securities, Railway Stocks, Gold Market, Foreign Exchansje, N. Y. City Banks. Boston Banks. Philadel- phia Banks, National Banks, etc. 3(7 THE COMMERCIAL TIMES. Commercial Epitome 355,DryGood8 810 Cotton 816 Receipts. Imports and E.tDort8... 361 Breadstuifs S)» I Prices Current SbS CHRONICLE. The Debt Statement for Septem- ber 341 Latest Monetary and Commercial English NewB 344 Commercial and Miscellaneous News 846 Quntations of Stocks and Bonds. 350 New York Local Securities 351 Investments, and State, City and Corporation Finances 352 ®l)e €I)rouiclc. The Commercial and Financial Chronicle is issued on Satur- day morning, with the latest news up to midnig!it of Friday. TERMS OF SUBSCRIPTION-PAYABLE IN ADVANCE: For One Year, (including postage) $10 20. For Six Months 6 10. Annual subscription in London (including postage) £2 28. Sixmos. do do do 1 3e. Subscriptions will be continued U'ltil ordered stopped by a written order, or at the publication qfflce. The Pnblishers cannot be responsible for Remittances unless made by Drafts or Post-Offlce Money Orders. AdTertlvements. Transient advertisements are 'ubllshed at S5 cents pet line for each insertion, but when definite orders are given for Ave, or more, insertions, a liberal dis- eount is made. No promise of continuous publication in the best place can be ^ven. as all advertisers must have equal opoortunities. Special Notices In Banking and Financial column li j cents per Hue, each insertion. WILLIAM B. DANA, I WILLIAM B. DANA & 00., Publishers JOHN G. FLOYD, JB. f 79 & 81 William Street, NEW YORK. Post Office Box 4, ."392. 13^ A neat flle-cover is furnished at 50 cents ; postage on the same is 17 cents. Vo'umes bound for subscribers at $1 .V). ^^ A corapl. te set of the Co.'umercial and Pinanciai, Chronicle—July, I8li5, to date— 18 for sale at the ofllce. Also, one set of U^jnt's Merchants' Magazine, 1839 to 1571—sixty-three volumes. Ml* The Business Department of the Chronicle is represented among FlBaacial Interests in New York City by Mr. Fred. W. Jones. THE ECUNOMISI'S AND BANKERS 1.^ CUUNCIL. One of the numerous cheering indications of the approaching recovery of business is the tone of increasing intelligent confidence with which almost all classes of business men seem to look forward to the future. A noteworthy illustration is offered by the proceedings of the bank convention this week at Philadelphia. The calm, statesmanlike views of the situation which were expounded by the various speakers have conferred upon it a value and influence which far transcend expectation. It will remind some of our older readers of that financial convention which preceded the resumption of specie payments in 1839. On the 10th of May, 1837, all the banks of this city suspended specie payments. The other banks of the State having done the same, the Legis- lature at Albany, May 16, 1837, passed an act suspending for one year those provisions of the law which authorized proceedings against suspended banks, with a view to forfeit their charters. This act, which was very similar in its operation to the decreo which stopped' the panic of this summer m Portugal, had the effect of temporarily checking the force of the revulsion in this country in 1837. Such an act, however, could not be passed in New York at present, it would be contrary to the State Constitution of 1846. On the 11th of April, 1838, 153 bank delegates from eighteen States met in convention, in the City of New York, for the purpose of considering the subject of specie payments. This convention resolved " That it be recommended to all the banks of the several States to resume specie payments on the first Monday of January, 1839, without precluding au earlier resumption on the part of such banks as may find it necessary or deem it proper." The records of the convention show that this resolution was carried by a large majority, fourteen States voting for it and two only voting against it. Alrao.-t immediately after the close of this celebrated bank convention, the Legislature of this State passed the act of 18th April, 1838, which established the banking system of the State of New York ou a basis which was in the main adopted for the foundation of our present national banking system, as created by Congress in 1803 and 1864. There is, indeed, a great similarity between this con- vention of 1837 and the present convention of 1876. Both were summoned by the spontaneous desire for the advantages and the strength of union, springing up among the banks all over the country ; both took decided action in favor of specie resumption ; and both aimed, during a period of financial and industrial depression, to restore solid confidence and well grounded hope to the country. We trust that the records of our late Philadelphia bank convention will not only be preserved in a complete and permanent form, but that they will be made easily accessible to that growing multitude of intelligent men among us who are so ardently studying economic and financial questions. Our space prevents the attempt in this place to do more than give a very brief account of the business of the meeting. This consisted of three parts: First, the passing of reso- lutions which were in favor of specie payments and of union among the banks ; secondly, the discussion of various topics of common interest ; and, thirdly, the reading of papers prepared by men eminent in economic and banking knowledge. The chief papers presented were those of Mr. McCulloch, Mr. Coe, and Mr. Hayes. The first gave a calm, historical, and statesmanlike sketch of our banking system as it is. The second took up the equally important ques- tion of what our banking system ought to be and may by our efforts become, especially in its relations to the

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Page 1: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

kmmHUNT'S MERCHANTS' MAGAZINE,

REPRESENTING THE INDUSTRIAL AND COMMERCIAL INTERESTS OF THE UNITED STATES.

VOL. 23. SATURDAY, OCTOBER 7, 1876. NO. 589.

CONTENTSTHE

The GconomistB and BanKcrs InCouncil 359

The Clearlng-llouse Annual Re-port 840

Ciirrency Changes to October 1.. . 341Financial Review of September... HiImports and Exports for August. . 344

THE BANKERS' GAZETTE.Honey Market, U. S. Securities,Railway Stocks, Gold Market,Foreign Exchansje, N. Y. CityBanks. Boston Banks. Philadel-phia Banks, National Banks, etc. 3(7

THE COMMERCIAL TIMES.Commercial Epitome 355,DryGood8 810Cotton 816 Receipts. Imports and E.tDort8... 361Breadstuifs S)» I Prices Current SbS

CHRONICLE.The Debt Statement for Septem-ber 341

Latest Monetary and CommercialEnglish NewB 344

Commercial and MiscellaneousNews 846

Quntations of Stocks and Bonds. 350New York Local Securities 351Investments, and State, City andCorporation Finances 352

®l)e €I)rouiclc.The Commercial and Financial Chronicle is issued on Satur-

day morning, with the latest news up to midnig!it of Friday.

TERMS OF SUBSCRIPTION-PAYABLE IN ADVANCE:For One Year, (including postage) $10 20.For Six Months 6 10.

Annual subscription in London (including postage) £2 28.Sixmos. do do do 1 3e.

Subscriptions will be continued U'ltil ordered stopped by a written order, orat the publication qfflce. The Pnblishers cannot be responsible for Remittancesunless made by Drafts or Post-Offlce Money Orders.

AdTertlvements.Transient advertisements are 'ubllshed at S5 cents pet line for each insertion,

but when definite orders are given for Ave, or more, insertions, a liberal dis-eount is made. No promise of continuous publication in the best place can be^ven. as all advertisers must have equal opoortunities. Special Notices InBanking and Financial column li j cents per Hue, each insertion.

WILLIAM B. DANA, I WILLIAM B. DANA & 00., PublishersJOHN G. FLOYD, JB. f 79 & 81 William Street, NEW YORK.

Post Office Box 4, ."392.

13^ A neat flle-cover is furnished at 50 cents;postage on the same is 17

cents. Vo'umes bound for subscribers at $1 .V).^^ A corapl. te set of the Co.'umercial and Pinanciai, Chronicle—July,I8li5, to date— 18 for sale at the ofllce. Also, one set of U^jnt's Merchants'Magazine, 1839 to 1571—sixty-three volumes.

Ml* The Business Department of the Chronicle is represented amongFlBaacial Interests in New York City by Mr. Fred. W. Jones.

THE ECUNOMISI'S AND BANKERS 1.^ CUUNCIL.

One of the numerous cheering indications of the

approaching recovery of business is the tone of increasing

intelligent confidence with which almost all classes of

business men seem to look forward to the future. Anoteworthy illustration is offered by the proceedings of

the bank convention this week at Philadelphia. Thecalm, statesmanlike views of the situation which wereexpounded by the various speakers have conferred uponit a value and influence which far transcend expectation.

It will remind some of our older readers of that financial

convention which preceded the resumption of specie

payments in 1839. On the 10th of May, 1837, all the

banks of this city suspended specie payments. Theother banks of the State having done the same, the Legis-

lature at Albany, May 16, 1837, passed an act suspending

for one year those provisions of the law which authorized

proceedings against suspended banks, with a view to

forfeit their charters. This act, which was very

similar in its operation to the decreo which stopped'

the panic of this summer m Portugal, had the

effect of temporarily checking the force of the

revulsion in this country in 1837. Such an act,

however, could not be passed in New York at present, a»

it would be contrary to the State Constitution of 1846.

On the 11th of April, 1838, 153 bank delegates from

eighteen States met in convention, in the City of NewYork, for the purpose of considering the subject of

specie payments. This convention resolved " That it be

recommended to all the banks of the several States to

resume specie payments on the first Monday of January,

1839, without precluding au earlier resumption on the

part of such banks as may find it necessary or deem it

proper." The records of the convention show that this

resolution was carried by a large majority, fourteen

States voting for it and two only voting against it.

Alrao.-t immediately after the close of this celebrated

bank convention, the Legislature of this State passed

the act of 18th April, 1838, which established the banking

system of the State of New York ou a basis which wasin the main adopted for the foundation of our present

national banking system, as created by Congress in

1803 and 1864.

There is, indeed, a great similarity between this con-

vention of 1837 and the present convention of 1876.

Both were summoned by the spontaneous desire for

the advantages and the strength of union, springing upamong the banks all over the country ; both took

decided action in favor of specie resumption ; and both

aimed, during a period of financial and industrial

depression, to restore solid confidence and well grounded

hope to the country. We trust that the records of our late

Philadelphia bank convention will not only be preserved

in a complete and permanent form, but that they will

be made easily accessible to that growing multitude

of intelligent men among us who are so ardently

studying economic and financial questions. Our space

prevents the attempt in this place to do more than give

a very brief account of the business of the meeting.

This consisted of three parts: First, the passing of reso-

lutions which were in favor of specie payments and of

union among the banks ; secondly, the discussion of

various topics of common interest ; and, thirdly, the

reading of papers prepared by men eminent in

economic and banking knowledge. The chief papers

presented were those of Mr. McCulloch, Mr. Coe,

and Mr. Hayes. The first gave a calm, historical,

and statesmanlike sketch of our banking system as

it is. The second took up the equally important ques-

tion of what our banking system ought to be and mayby our efforts become, especially in its relations to the

Page 2: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

340 THE CHRONICI.K [October 7, 1876.

monetary circnlation of the country. Both these ad-

dresses were listened to with deep attention by one of

the most intelligent and appreciative assemblies ever

convened to deliberate upon our financial and banking

situation. The last day of the session was taken up with

a timely and suggestive paper by Mr. Hayes, showing

how the banks are related to panics, and especially to

the most recent of all our panics, that of 1873. Someother papers, which the time did not permit to be pub-

licly read, were prepared by members of the convention

on the subjects of taxation, of reserves, of the paymentof interest on deposits, as well as on the silver question

in its relation to resumption and to the banks. Aspower was given to print these with the other papers, the

volume containing the report of this bank convention

will constitute a valuable repertoire of financial informa-

tion, which should be in the ofiice of every bank in the

United States, and in the hands of all our young bank-

ers and merchants.

As the papers read have received and are to receive

such extensive publicity, it is as unnecessary for us to

attempt to abridge them, as it is impossible to do them

justice in our limited space. We cannot, however,

refrain from extracting the following remarks of Mr.

McCuUoch on the prospects of business and the demandfor our securities abroad :

1 believe that it is resumption that is needed to lift the countryout of the " slough of despond" into which it has been suuk forthe three last years. We have thought so much upon the subjectthat we have become morbid. We have spent so much time incountinp; the cost that we have greatly exaggerated it. Therehas been too much figuriog about resumption. Figures are wellenough in their places, but they sometimes do harm in impedingaction when action only is required. When some of Gen. Lee'sofficers were figuring upon the probability of their being able,

with the local advantages they possessed, to meet, with 75,000men, the Federal officers that were marching against them, heremarked, " Well, gentlemen, if you go to ciphering we shallbe whippi-d every day in the week." What is needed in our caseIB less ciphering and more confidence in our ability and resources.

« * « * «

A country that to the amazement of the world commenced thepayment of her debt within six months from the close of the warwhich she had waged for four years, with an unparalleled expeuditure of lite and money, and which, in the ten years immedi-ately following that war, has reduced her debt nearly a thousandmillions of dollars, and done so to a large extent by anticipatingthe maturity of her bonds, cinnot plead poverty as an excuse for

permitting less than $400,000,000 of her promises, payable ondemand, to be dishonored and depreciated. If the legal-tendernotes are not redeemed at an early day, it will not be because theGovernment is unable to pay them, but because tlie people will

not authorize it. During the suspension of tho Bank of Eng-land there was no diminution of the national debt of GreatBritain, and resumption took place just as soon as the wastedenergies of the country were partially restored. Even the fail-

ure in the first attempt to resume sliowed how important re-

anmption was considered by an intelligent Government. And I

would here remark that it wat> not until after it had taken placethat Great Britain fairly entered upon that career of prosperitywhich has caused hev to bo foremost among the nations in wealthand power.Tne present is in many respects a favorable time for resump-

tion. Some years ago there might have been ground lor appre-'hension that there would bo a drain of specie from the UnitedStates by a return of our securities from Europe as a consequenceof the restoration of the specie standard; but there is now andthere need lie in the future no danger in this direction. There is

in the leading commercial nations of Europe a plethora of specieand adearthof solvent securities. There is a constantly increasingdemand for our Uovernment bonds, and a fair demand for thebondi of our great rail way companies. ThedemaniJ for the latter

would be largely increased if investors were gatisfiei of their sol-

vency. There is, I say again, no danger of a return of our secu-rities as a consequence of resumption. On the contra^y, such anevidence, as this would be, of our good faith and ability wouldeause them to be held more firmly. European investors are morecareful than they used to be. The immense losses they haverecently sustained by loann to nations thai: could only pay so longas they were able to borrow, and to companies whose claim to

confidence was found to exist only in the tilowiug terms of their

piospecluses, have made them wary. There is to-day a betterdemand for our solvent securities than there ever has been, andtJjis demanl is likely to increase rather than to diminish. Thef»ct, then, that our .'ecurities are largely held on the other side

«1 the Atlantic should not be regarded as an obstacle to the res-

toration of the true measure of value. The plentifuluess of

specie in Europe, the foreign demand fur our securities, the veryfavorable condition of our export and import trade, the lowprices

of property of all descriptions, so low as to render a furtherdecline quite impossible, the relief from political excitementsoon to be experienced by the election of a new President, thehopeful spirit which is beginning to manifest itself in regard tothe future—all these indicate that the time is at hand for clearingthe way of all obstructions and letting the country move ontoward its former prosperity.

This information as to the growing popularity of oursecurities among the investors and capitalists of Europefully sustains the predictions which we have ventured of

late to make on the subject, and it must be rememberedthat Mr. McCulloch's conclusions on this point are

founded on a more extensive acquaintance with the

facts needful to a correct judgment than is possessed,

perhaps, by any other banker or statesman equally well

known, here and in Europe. This fact was referred to

by Mr. Gladstone at a late meeting of the Political

Economy Club in London, where he pronounced a high

culogium upon our ex-Secretary of the Treasury. In

the following terse and sugnfestive words Mr. McCul-loch has summed up for his countrymen his whole views

on the financial situation :" In returning to the United

States after, with two intervals, an absence of some six

years, I perceive everywhere evidences of the misfor-

tunes which have befallen the country, but I see also

indications of returning prosperity. New life begins to

show itself in our cotton and woolen factories—fires

begin to glow again in our long-slumbering iron foun

dries—trade is improving in our commercial cities, and

hopefulness is succeeding despondency. All that is nowneeded is judicious revenue laws—a return to specie

the exercise of the industry which is natural to our

people, the practice of economy, and, may I not add,

reform in our civil service ?"

TIIE CLEARING KODSE ANNUAL REPORT.

One of the best tests of the state of business in any

country is the movement of its banking machinery indi-

cated by its Clearing House returns. Hence the reports

weekly published of such statistics have been examined

of late in our principal cities with much more interest

than usual. Last Tuesday the annual meeting was

held of the New York Clearing House, and the state-

ment was given of the transactions for the year ending

Sept. 3, 1876. Little other business was done, on account

of the absence of several of the prominent membeis at

the Bank Convention at Philadelphia. From the

statistics of the year's work of the Clearing House wefind that the total sum of the transactions was $22,892,-

316,275, of which $19,874,815,360 were currency clear-

ings, while the gold clearings were $1,722,458,886. This

statement compares as follows with that of previous

years:NBW TORK CLE&RIMO HOUSB TRANSACTIONS 1872-76.

Year ending Sept. 30. 18:2. 1873. 1874. 1875. 187S.

t t $ t $Currency rachiinges. £2.6.30,097.403 33,9;2,7'3 912 20^850,68 ,962 23,0i2,'i76,-5S i9,8-4,8;5,3«0

Currency balances .. 1,2 3,293 827 1,52,3:2,08 971, 3!,! 1,104 il6.845 1,009.533,087

Gold exchanges 1,207,3:2.64 I,43S,2:8,SS2 2,005,245,673 108,940,053 1,722.453,886

Gold balances 215,-88,880 822,185,916 3 55J,895 18231,429 2ffl,308.991

Total tr nsactlons... S5,2T2,9-,2,2;5 36,9:5,560,830 24,142,680,812 24,2;3,843,:92 22,892,316,2 5

Average daily cur-

rency exchanges .. 105,964,277 lt',022,I57 68,;S9,483 79,326,301 -.0,849,427

Average dally cur- '

rency balances 3,939,265 3,:65,921 3,1:3,953

Several practical deductions will at once suggest them-

selves on the inspection of tliese figures. First of all it

appears that the aggregate of the currency exchanges is

but 19,874 millions, against 23,042 millions last year,

20,850 millions for 1874, and '33,972 millions for 1873.

It loight appear to a casual observer that there are do

symptoms here of the revival of business. Unfortu-

nately our Clearing House does not attempt to separate

the Stock Exchange clearings from those of the ordinary

business. If this separation could be made, and if we

Page 3: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

October 7, 1876.] THE CHRONICLE/ 841

could see what proportion of these annual aggregates

represent general mercantile business, and what propor-

tion come from Stock Exchange operations, we should

be better able to ascertain the precise movements of

trade without looking far beyond the figures themselves.

An ingenious effort has been made in the London Clear-

ing House to improve its statistical methods so that it

should be able to give to the business community this

important information. Our Clearing House claims to

be in many respects ahead of that of London. But in

regard to this particular statistical improvement we must

certainly acknowledge that the London Clearing House

surpasses our own. It is, however, well known

that much of the Stock Exchange business in London

does not go through the Clearing House of the banks,

while it constitutes a large part of the daily transactions

of the New York Clearing House, the other business of

which is said to average about 40 millions of dollars a day.

The next point of interest in the report is the evidence

it furnishes of the prosperity of the association. It wasestablished twenty-three years ago, and its aggregate

transactions amount to the prodigious sum of $461,092,-

647,795 50. All this business has been done without the

loss or error of a single dollar. A more striking example

CDuld not be given of the perfection to which modernfinance has brought its clearing operations. The institu-

tion consists now of 59 banks, 14 of which are State

banks, having an aggregate capital of $12,385,200

.

while 45 banks are under the national law and have a

capital of $66,150,000. The aggregate capital of the 59

banks in the association is therefore $78,535,200, against

$80,435,200 a year ago. Besides these banks, there are

16 others which clear through various members of the

association; thus the whole of the banks in the city of

New York are 75. Of these the 28 State banks have a

capital of $15,322,200, while the 47 national banks have

a total capital of $66,500,000. The following table gives

the statistics of the currency exchanges and balances for

twenty -three years:

Cash Balances AV' rage Daily Av. DailyPaid. Exchang&i. Balances.

CHRRENCT EZCBANOX9 AND BALAKCES, 1S53 TO 1876Oct. to CurrencyOct. Exchanges.

1853-M $5,750,455,987 $297,411,493 $19,104,604 $988,018

1661-55 5,863,91«.0(l8 SS9,6yl.137 17,(12.052 940,565

1855-66 6,906,813,823 3)1,714,480 22,2:P,10T 1,07!',72»

1855 57 6,333,226,718 365,313,90; 26,968,371 1,182,845

1857-58., 4,756,664,886 814,338,910 15,393.735 1,0I6,9D1

1858-59 6,418,005,956 363,934,632 20,867,.333 1,177,943

185^«0 7,831,113,055 880.091,433 23,401,757 ],S3'3,G17

iS6<t6I 6,915,742,758 353,383,914 lil,869,.5:i0 1,151,087

1861-62 6.871,443,531 4I6,530,a31 28,837,681 1.3(4.763

186M3 14,867,697,84^ 677,626,483 4»,488,6;7 2,807.258

1863-64 24,007,196,655 885 719,204 77,981,455 2.86«,405

1864-65 26,032.384.311 1,0;5,765,107 84,793,040 3,373,827

1865-66. 28,717.146,914 1.066,1;5,106 9.3,541,195 .3.472,752

1866-67 28,«76.169,472 1,144,963.451 9),101,107 3,717,413

1867-68 28.'!8l,868,C3<i 1.125 455,236 98.182,lo3 3,612,249

1863-69 87,407.028,986 1,120,318,307 1.1,J51,39J 3,637,3!7

1S69-70 ....27,8 4,539,405 1,036,484,831 90,271,478 3,365,210

1870-71 29 300,986,682 1,209,721,029 95,133^073 8,987.665

1871-72 33,811,869,588 1,813,893,827 106,964,277 3,939,265

1872-73 33,''72,773.912 1,162,372,108 111,022,137 3,765 921

18T3-74 20,850,631,962 971,231,880 66,139,483 3.171,958

1874-75 23,042,876,868 1,104,346,645 79,32,1,301^ 3,00^,0.0

1875-76 ...19,874,815,360 1,009,533,037 70,349,487"*"

As we have mentioned the London Clearing House, it

may be interesting to compare the aggregate transac-

tions of that institution with those of the New YorkClearing IIou.se. Several years ago we directed atten-

tion to the fact that the aggregate business of New Yorkwhich passes through the Clearing House reached a

larger sum than that reported at London. Of course it

will be folly to suppose, as some people have been in-

clined to do, that the business of New York approaches

in magnitude that of London. Such an inference is not

at all justified by the figures of the Clearing Housereports of the two cities. These reports do, however,

indicate the fact, which it is very interesting and useful

to know, that the [methods of clearing are different in

the two cities, and that a large mass of important

transactions which pass through our Clearing House are

wholly excluded from that of London. Equally unwise

would it be for us to conclude that we ought to adopt the

London methods. Probably ours are better for us, be-

cause they are the outgrowth of our own financial andcommercial necessities, acting through a long series of

years. Wo have not space, however, to consider this

question in detail. It will come up hereafter, when wecome to discuss the statistical methods already referred

to. The transactions of the Clearing House at Londonwere not reported to the public before 1868. Since

that time the total business compares as follows •with'

that of the Clearing House of this city :

TBANSAOTIOHS OF THE CLEARINO HOUtES AT NEW TORK AND LONDOV.Lotuton London yew fork

Clearing Ilo'iee. Clearing Ilcuse. CU'tring tiOuM,

1S68 £.3,ai7.41l,(,0D $:5,«87,055,('<'0 $»8,484,288,«i«

1869 3,554,039,000 17,670,193,000 37,4O7,0S8.98»

1870 3,72?,fiS8,300 18,603,116..500 27,804,539,405

1S71 4,018,46.3,000 20,Cg8,S15,000 29,.300.»8«,6ga

1872 5,859,722.000 86,748,610.000 35,372,952,275

1878 6,003,J35,000 30,016,676,000 36.9.36,560,850

1874 5,991,000,000 29,<i70.O00,CO3 S4,14?,680,81»

1675 8,C1.!,:99,000 3O,066,496,0CO • 21,273,8 8.192

1876 22,892,316,275

The only other business transacted at the annual

meeting on Tuesday was the appointment of the follow-

ing officers for the ensuing year : Chairman, George SCoe. Secretary, George F. Baker. Clearing HouseCommittee—Charles F. Hunter, Benjamin B. Sherman, •

William L. Jenkins, Jacob D. "Vermilye, Nicholas F.

Palmer. Conference Committee—Henry F. Vail, Freder-

ick D. Tappen, Charles M. Fry, Washington A. Hall,

William Dowd. Nominating Committee-—Thomas Moija-

han, Francis M. Harris, William P. Brintnall, Charles

Bard, M. F Reading. Committee on Admissions—GeorgeMontague, Charles Jenkins, E. H. Perkins, Jr., Francis

Leland, J. L, Jewett, Jr. Arbitration Committee—P. M.Bryson, S. R. Comstock, J. M. Morrison, John E. Wil-liams, W. A. Wheelock. It is gratifying to find that

the number of Clearing Houses in this country ds

increasing. In the Chroniclk for 1st January, 1876, a

table was given of sixteen Clearing Houses, containing

a membership of 334 banks. During the eight montjis

which have since elapsed, three new Clearing Houseshave been reported. That of San Francisco has fif-

teen banks, that of Lowell seven banks, and that of

Louisville twenty banks. Hence there are at present in

this country nineteen Clearing Houses, with a member-bership of 376 banks. As union is now so vitally

important to every part of our great banking system, wewould venture to suggest that some important interests

of the country would be promoted if our New YojkClearing House could, by some appropriate methods,

lend a moral support to, or at least open and keep up: a

correspondence with, the other institutions of like char-

acter at home and abroad.

CURR&.\C¥ CHANGES TO OCTOBER 1.

The figures received from the Comptroller of the

Currency the past week enable us to bring down <m.T

statement of the currency changes to October 1, as

follows

:

National bank notes outstanding when Act of Jane 20, 1374, wasP^Med $349,6S<;_18»

National bank notes iBsued from Jnnc SO, 1S74, to Jan.

14.1875 $4,734.5C0

National bank notes redeemed and retired betweensamedates 2,767,232

National bank notes increase from June 20, 1874, to Jan. 14, 1875. 1,967,238

National bunk notes outstanding Jan, 1<,1873 (351,861,450

Page 4: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

342 'JHE (CHRONICLE. [Octob:!r 7, lb76.

Niillonal bank notes redeemed and retired from Jan.

14, 1875, to October 1,1876 U9.Sr!,681

National bank notes surrendered between same dates. 6,013,700

Total redeemed and snrrendered $48,4S9.471

National bank notes issued between same dates 16,8jl,578

DecrcasefromJan.U, 1875, to October 1, 18T> $»,607,«9a

Amount outstandiDg October 1, 1876 t322,-2i3,W«

Oreenbacks on deposit in the Treasury, June^0, 1874, to retire

notes or insolvent and liquidating banks $3,813,679

Oreenbacks depositei from June 30, 1S74, to October 1, lj76, to

retire National banknotes 80,690,181

ToUl deposits."

$64,603,856

Circulation redeemed by Treasurer between same dates, without

reitsue 4!,6I2,91.3

Balance of deposlto October 1, 1876 $(1,860,943

<}reenb.icks retired under Act of Jan. 14, 1875 $13,505,260

Greenbacks outstanding October 1, 1876 368,491,740

Greenbacks outstanding January, 1875 $332,000,000

By comparing the foregoing with the statement

we published August 5, we find that the total bank

notes redeemed and surrendered during the two months

from August 1 to October 1 was $6, 79],481; during the

same time there were issued of new notes $1,405,610;

eo that the net decrease, during August and September,

of bank notes outstanding was So,335,871, against

$3,259,721 durinir July, and $3,668,294 during June.

If we compare all the items for October 1 with those

for August 1, the changes during the two months

appear to be as below :

7oAug.l,"S.

$39,6<»7,9!10

15,475,963

National bank notes redeemed and snr-

rendered from Jan. 14, 1875

Notes issued same time

Net decrease $2i,S2i,025

Greenbacks on deposit with United

States Treasurer, to retire notes 85,310.349

Decrease

ToOct\:.t. Aug.ASept,

$16,439,471 $6,791,481

16.831,575 1,406,610

$29,607,890 $5,383,871

21,860,913

$51,468,839

$263,491,740

3,449,405

$1,936,41)5

1,124,483

Making tlie net decrease $19,532,374

Total greenbacks onietanding $369,6t9.2;8

Total decrease in active currency dur-

ing Angnst and September $3,060,953

This shows a decrease in the active cun-ency during

August and September of $3,000,943, against a decrease

in July of $1,813,794, and of $2,847,538 for the month

of June. The total extent of the decrease may be stated

as follows:

Net decrease in bank notes from Jan. 14, 1875, to October 1, 1876... $23,607,896

Greenbacks on deposit with Treasurer to retire notes, Oct. 1, 1876. . 21.860,943

Decrease in greenbacks since January, 1873 13,503,200

Total decrease to October 1, 1876 $64,974,099

Hence the present outstanding circulation may be

indicated by the following statement:

Greenback issues Jannwy, 1875—total 8382,000,000

Bank notes outstanding same date 351.861,450

Total $73.3,861,450

Decrease to October 1, 1876 64.974,099

Total available for circulation, October 1, 1876 $668,887,351

The above shows that our available circulation was,

October 1, $668,887,351. This statement does not indi.

cate, of course, what influence the permission granted of

using the four and a halfj per cent bonds as a basis for

bank circulation has had upon the movement of retiring

and issuing bank notes. Other returns, however, show

that over one million dollars of new bank circula-

tion was put out the last four days of September.

This fact affords ground for supposing that the newprivilege is exerting some considerable influence in

checking the bank-note contraction, which has been

progressing so rapidly since January, 1875. The Comp-troller also furnishes the following statement, showing,

by States, the amount of national bank circulation issued,

and the amount of legal tender notes deposited in the

XJ. S. Treasury to redeem national bank circulation, from

June ao, 1874, to October 1, 1876:

stales and TerrltoHet.

AdditionalNotionalJIank

Circulationissued

from June211. 18:4, to

Oct. 1, lo76

MaineNew HampshireVermontMasonchusettsRhode IslandConnecticutNew YorkNew JerseyPennsj'lvauiaDelawareMaryland ..

District of Columbia.VirginiaWest Virginia>orth CarolinaSouth CarolinaGeor:.'ia

FloridaAlabama.....MississippiLouisianaTexasArkansasKentuckyTennes-eeMissouri•hi)IndianariinoisMichiganWi«consiuIowa .....MinnesotaKall^a-Nebra:*k9NevadaColoradoUlahMontana

Legal Tender Notes dei>osited intfie U. 8. 7'rea£uiy t't retire

National Bank drculition/torn June 20, 1874, to Oct.

J, ^76^

Deposits Deposits to

for the re- retire clr-

dtmption aila'ionof notes oj under ActLiquid'H- of June 20^

ingbank- 1874.

$808,9103h-',66

761,4805,340,945

l.-«,20>

6-28.810

8,01.5.210

537.1358,9;J2,210

84,100110,-ilO

243,600207,10085,370305.0606 700

ISO.OI

45 COO90,0

$41,20027,400

134.807

96.400

32.18062,100

27 OiO623,(00S3.060|

166,600393,164'

7u6,'*64

731,060

$555,01010,!-00

89i),40i

4,955,90042B.7J0<!03,7'.i0

13 717,1417!2,3lO

3,787,100

242,725

60!,625

1,937,140259,2110

113,1707't«,520

1,832.510

7S6.4753I''8.420;

50,90,l!

553,50032>,S*ii

30,600,

1,123,1004-27.500

^9^,4l5SOi.JCO6 7,185926,^80S9;,a7i

126,00.1

4'!1,867

285,9011.17,591

796,33474.67781 ',.309

116,4008)0,481410,774125.691

444,671

45,000

'

63,925161,191!

.1

1,844,23022", 3 10»'>,(Ci)

748,733

40.S8:93,3&3,559I,-262,9!-;0

3, •258,76a

6,593.951

l,587,fO687,40

1.358,550

1,119,840145,t)00

64,680

135,'O.I

196,846,000

Total #21,616,075' *S,9.39,211 $o'.,7J0,970Legal lender notes deoopited prior to June 20, 1874.and remaining at that date

TotalDeposits.

$596, -.00

38.S00431,207

6,0.32,300

426,740tsn.wo

14,340.141

756,4004,230,847

l,-"8 l',70n

8:0,6641.299,2799)5.366i7,ia5926,:i80

610,(00

8,447.6752-29.840

90,i"00

1,210,600644.760

3..371,15u

2,0ji),8ii1

8,7-2^,4-29

6.40.1.7l»

1.7ll4,SOJ

1,027,831l,7(,9,.i24

1,316,531590. -271

;9,8S0

IjegatTendere

on demsUwith tilt

U. S.

TreasurtrOc<. 1,'76.

Aggregate deposits.

198,925337,99145,000

$60,690,181

3,813,675

864,503,836

$269,67781,123

18-2, i79l,8Sl,fil4

18,50053,581

4,180,878291,485

1,792,727

' 6vism654.669530,740361407883,0603-2>>,6S0

207,725

"I'.oia

1,3-21

1,1)4.1848.3,140

3h,783576,631

254,731i,o;ii,22;j

1,0-27,883

1,280,8472,711,086618,496418,916695,6-29

6-21,052

261,10147,7804,568

<19,<!u3

; 98,5935,060

$21,8(0,943

F1NA!(CI.U REVIEW OF SEPTEMBER.

The month of September -was generally favorable for business

interests, and the incipient improvement in mercantile circles

noticed in Aujfust was continued and somewhat increased the

past month. There has been no time since the crisis of 1873

when there were so general, and apparently so well founded

reports of good business in the various departments of trade

and this not inprospectu. as has too frequently been the case, but

in actual transactions at the present time. No wonderful buoy-

ancy or speculative activity is anticipated, nor would anything

under existing circumstances be Isas desirable ; but a healthy

movement and steady and remunerative prices are looked for witJi

a good deal of confidence.

The money market scarcely reflected the greater activity in

trade circles, and call loans on collateral remained at 1^(33 per

cent., while mercantile paper hardly advanced more than i per

cent above the low prices of the Summer. •

Under the successful operations of the syndicate offering the

$40,000,000 of U. S. 4i per cent, bonds, the price of the older

issues—particularly the earlier five-twenties—declined considera-

bly, and a large part of the transactions of the month consisted

in the changing of bonds by national banks whose five-twenties

of 18C5, deposited at Wasliingtou, were called in and had to be

replaced by other bonds. Some of the bonds deposited in this

way, as well as for new circulation by banks, were of the new 4^

per cents, but large amounts were also of the old bonds, both

fives and the later issues of five-twenties.

CLOSINU PRICKS OP CONSOLS AND H. 8. SECUKITIBS AT LONDON IN 8EPTEMBKR.

Date.

Friday .... 1

Saturday . . 8Sunday 3Monday.... 4Tuesday. . 5Wednesday 6Thursday . . 7

Friday .... 8Saturday.. I*

Sunday*.. 10Monday .. .11

Tuesday .12Wedne6«lay;3Thursday.. 14

Friday ... 15Saturilay . .16

Sunday". ..17,

Monday 18Tuesday., .19

Consols U.S.for j

5-ao,

money. 1S67.

10^0

93X95H

|108.*« lf7XI06fi 107

33 11-16 in8)i'107,¥95JJ 1108 i 107,V95 13-16 I08Ji 107)4

93 11-16 ;0J5i 1C7X93 9-16 lO-'/j 107^595 9-16 lC8>iil07>i

Newfives.

1(7"4

107J,-

iwk107?,-

1011.'

107?i107«

93 9-lH lOSKilOTi^ 10?;.

9> li-wiwumr^im^93 11-16 I0« )1079i!107fi'5 18-16 irhiilios lU7i;

9) 11-16 lOi.ti'108 lt)7?i

95V5 109 I us il07?»

93 15-10

"5^198'l08

.1.

'li7«

Date.Conrjols

formoney.

Wednesday8il 95Thursday.. 21 96

Friday ....22 96

Saturday ..28j9d

Sunday 24 . .

Monday ...25.96Tuesday... 26196«'edue!.day27|36Thursday.. 2-ji 96Friday a9;96Satuiday ..30 95

[Opening. .

IHighest...ILowest . .

.

I closing

I

High. ( sinceI Low.. I Jan. 1

15-161-167-167-16

7-io'7-167-165-161-U;15-16

93X96 7-16

93;i95 ..5-16

97 7-16n 7-16

U.S.5-81. 10-10

1867.

109 103>«-

109 1U->V,

109 l-.HV,

108Ji 108>»

109 10-<>4

109 lOJi.

109 lOSSf1119 \0>U101 lOsJj

1U9 108;*

108X 107!^it.9;4 lO-'KMix, .07

109 '.M%111 MIM'i

M7V 105>4

Newfives.

107%Ii>'7;i

: t07ji;

i«!'A

io7%

107.'iI'BX107 JiIOTA

'.Olii

108>,'

IOTA108 ifT

Page 5: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

October 7, 1876.] THE (JHRONICLR :S43

CLOSINQ PBIOBB OP GOVBRNMIINT SKOltRITIES IN SEPTEMBER, 'ifftS.

.-Coupon bonds. ,

5b '81 68 '81 Bd'SI i-Hyt r>-Mi 5-208 5-209 10-lftJ

Sept. coup. reg. coup. 18ti5. '03 new. lBti7. 1868. reg

1 IIS^ I.7'4 llsX ... 1I8X 117 118X 115JI^

2 115^4 inx 113 112)i 113,"i in8 9.

10-40Scoup. cur.

121

4 IlSJi 117

5. IWX 117«a IIRK U';i 118

llJJi8 U.V'i 117^ IIRV

i:7x H2ji.... lU'Ji 113

.... ii3;< iiaj;nay

10..

11..

n..18..

14..

15..

16..

IWJtf I185i

inii ii6«11S>4 116^

itftK n»H 114«IWX 118H 114%

118!< 115

iieji ....

116llCii

liiji

115H115«115«

118M 113X 1133$ 116%118H 113 llah 116Ji

112«

118X

. ma ....

. ma mu... liBK

llSJf ... 11814 115^ ....

USH U6Hnasi iib;< .... 11614 ....

s18..

19.115K 1173i 11S;;4

20. IISX 117>»- IISM21.

22.23..

24..

114^117>< 118)^117^4 118>i 113

.... 113H 116Ji

.... 113K 118!<

li2Ji li8!« liaU

1I5>,' ...

lisii lis " iiJklis

ia6«

iswji

126.)i

127

87..S8..

29..

Opening.Hlghtet..Loweat...Closing.

.

114'^

I147ill4;i

iiiii

my.114.

I17X117J.-

ll'.y

117H'117>i117(4

117?i117'i117

113

113'ii

113/,.8.

lltiK

llS)f

113?i

113Hiiaji

1I3X I13?i

I18>.-

118?i117!/j

118X

112 'i

113>illi^113i<

111

IM.'i

116.»i

116V4

116K

liif'"

117iia^llCJi

118)4

I18V4II8'/j

llo>i1I8"4

114Ji1144

114X114>tf115)<

11.5X114J4114J4

126J4126X

in116

1153i

127127I26K

Railroad stocks and bonds were much depressed, except the

prime old bonds, which held their own well. There were no

new developments in railroad matters, although it was apparent

that a heavy "bear" influence was exerted in the market. Thecoal-carrying roads exhibited no further weakness in their affairs.

the coal auction sales going better than in August.

The following table will show the opening, highest, lowest

and closing prices of railway and miscellaneous stocks at the

New York Stock Exchange during the moaths of August and

September:

ooDBSE or SOLD uf mmiiBER, :EI7(.

Date.

Friday 1

Saturday 2Sunday 3Monday 4Tuesday .... 5Wedneeday...

llOimy.

109X09X

Thnrnday mwxFriday 8Saturday 9Sunday 10Mondiiy ., .,11Tuesday 12Weducsdaj . . . 13Thursday 14Friday 15Saturday IB."•undfty 17Monday ISTuesday I»Wednesday. . .20Thursday 81Friday 22Saturday S8Sunday 24

10

10%

iiok110

nonil),-

iiox

nolO-.IK

nono109 J<liU

lOS^i

109«

109XIIW14

lOIJi

109)4

lO'J^i

109%

iio"109XlOJSinonoiiox

109%10!l%

110

\my,no

110},'

109%

109«KKIJi109 )inono110%

119%nonoxiinx1'0%iu%

nono110!^nonu%110%

10109X

109 ;<

109s109;*nono110%

iio"109Vno110%10

IIJH

103%110nu109%1

no

Date.

Monday 95Taorday 26Wednesday... 27rhnrrday 88Friday 29Satuiday .30

Sept., 1876..1875..1674..1873..187*..IWl..1870..IH69..

1668..li!67..

188«..

1665.1884.

Ie63.,1862.

Since Jau.l, '16. ins

Foreign exchange continued weak under a small demand for

bills and the prospect of a present increase in commercial

exchange, to arise from cotton shipmenti'. It may also benoticed in this connection that the total exports of ihe country

during late months have much exceeded the total imports, andthis condition of trade should not be without its effect onexchange.

BTERLINS EXCHANGE

Sept.

RANGE OP STOCKS IN AUGUST AND SEPTEMBER.

Railroad Stocks.Albany & Susquehanna 10.3

Atlantic & Paciilc, prof. 2VCentral of New Jersey. . 6.i>JCentral Paci lie 100Chicago & Alton ..... . iOOJf

do pref .. 1U7Chicago Burl. & Quincy 119J<CUcago Mil. & St. Paul. Zf<\

do do pref. 675^4

Chicago & Northwest . .

.

.39%do pref. 62Jf

Chicago & Rock Island. 108Cleve. Col. Cin & Ind . .

.

39)^Cleve A Pittsburg, guar. 95Columb. Chic. * li d. C 35fDel. Lack. & Western. .

.

Pe"4Dubuque Jb Sioux City.

.

66Erie \?.y,

do pref SOHannibal & St. Joseph.. 1I5<

do do pref. 1»Xnarlein 138

—August.Open. High. Low.

ica 103i« l'»-

64 W'i100 100

l(2fi 973if108 !07

liOV 114Vi-'% 29VI *i 64H\ t6HiH 6?3<108 'MH42 37

96,V 9J»% »H96X 7766 65'^14 »i »v.!i3 20

12H lOK21 ln?iV»'H 1379iX 86

54 hi 52?i44 mv.Hii 1%

102 90139 '4 1381¥ V

107,'i 104V151 151.^i-iVn 1024 19V7 3V

1.30 13(1

10:3k 1019i 92

C108.103

3

41;o,i

981(7114'/,

3165V30"/j

60 -i

103Ji87923%83%66W%231319'/,

137>4

Open.87

40%

99"'

103«1I2«316li

36%m

lOili3792S«

83Si

-Septemher.-High. Low.87

41%

99"

lOSH11633%f^^y,

37>tf

mi106)437923%

64>4

801

21

11I3H

285831%57 )i

l(iO

3i86,vr

3!466%

lO'/i 10% 9

Clos.84

^\26%

97"10811528 Ji

59X3559%

XlOO35%»'>S3%67%

9%

" 4" 5,

" 6" 7." 8" 9" 10" il" 12," 13," 14." 15," 16.

60 days...4.86 @r87..4.8a ©1.87

S.

3 days.4.8H @l.88'<4.88 ®4.8S%

..4.86 ©4. 88V

..^.86 ©4.86%

[email protected]

. 4.84%a4.(-5H

..4.84 ©4.85

. 4.81 ©4.85S.

..4.83 ©1.84

..4.83 ©4.84

. 4.83 ©4 84

..4,8:3 ©4.84

..4.8iJi©4.0.'i%

..4.62%®1.83%

4.67!4©4,834 87%@4.884.87 ©4.871^4,86"/[email protected] ©4.86^4.8« @4.8i%

4.8.5 ©i.'a'iH4.83 ©4.85%4.85 ©4.80%4.85 ©4. 8)%4.84 ©4.854.84 ©4. 80

rOB BE]

8ept.l7" 18" 19" 20" 21" 2i" 23." 24.

rrEXBER, 3876.

60 days.S.

3 days.

.4 823i®4 83%

.1.82i£@4 83%

.4.62V4a4.8:|%

.4.8i ®1.83

.4.8i%©4.e3

.4.8»)[email protected])S

4.844.944.8>4.844.844.84

©4.85^4.85©4.85'©4.84>tf©4.84%®4.84itf

" 25." 26." 27." 28." 29." 3J.

.4.S2%@4.83

.4.82H@4.&3

.4.s2 ©1.83

.4.82 ©4.884.8i ©4.834.82 ©4.83

4.814.814.844.844.844.84

©4.84%©4.84V4®4.e4>^©4.84H©<.84i4

Range.. 4. 32 ©4.87 4.81 ©4.38%

IMPORTS A.ND E.IPORTS FOR AUGUST, 1876.

Statement, by Customs Districts, of the values of imports into,

and domestic and foreign exports of merchandise from, the United

States during the month of August, 1876.

Illinois Central 91%Kansas PacificLake Shore & Mich. So. 53J4Michigan Central i\y,Mis^ouri Kansas &, Tex. 7%Morris & Essex 102New Jersey l:JS%New Jersey Southern.. . . %N. Y. Cent. & Iliid. Riv. 106%N. Y. N. Haven & Hart. 168;,Oijio «fc Mississippi li%

do pref.. 1M%Pacific of Missouri 6%Panama 130Pitts. F.W. & Chic, guar 102^

do spcc'l guar 92Rensselaer & Saratoga.St. L. Alron *T. H. pref 13St. L. Iron Mt. * South. 10St. Louis Kans. C. & N. 6

do do pref. 30%Tol. Wab. & Western . . 2%

do do pref ...

Union Pacific iiy,Warren 1C2IHlscellaneous,

P.iciflc Mail 23%Atlantic & Pacific Tel... 17%Western Union Tel 6<%Consolidation Coal 40 ^Maryland Coal 12Pennsylvania Coal 2i8Mariposa L.&M... 8

do prf 8%Quicksilver ]2

do prif 17Adams Express 113American Express 60United States Express.. 67JiWells Fargo F.xpresB 84Del. & Hud. Canal 100%Canton .32

Prod. Cons. L'd & Pet.! 113^Union Mining

Gold and foreiga exchange were dull.

important fluctuation in price, and the principal point in themarket worth noticing was the scarcity of cash gold and highlending rates toward the close, attributed to the effect of thesyndicate transactions, which necessarily led to the creation of atemporary "shon" interest in the market.

1318%„"«31

01%102

54%17%72,-4

4014

13%%i%

6B«

1319lit6207%8<iJ4

10134

115%

13166

S9>4

1%59'

95

Sl%176S%38%12

23S68%

12171!059%62f3%75V32112%

53 "i31%8

95,V138

106%151%11%

iO

8V130101%92

13"

16%6

29VS%

61"

93

ny,17

69V39%l:i;i

23868%1319

111

69%62S5%84'/,

34]15«

10% 13V lOH 12%!.!'/, 23 I9V S2

i:j7 137% 131 131V89% 89% 80'/, 846 7V 5 5MI4 54% 48^ 53V39% 42% 315(i 4IV8 8 •IV, '%

9ti^ 97 84 S9V136.V 138 135 13,)'/„

.'< ^ « %

106 106% 96 'M'/,

152% 152% 148 14811 13V lot,- U'^20 27V 2J S33 4 IV 3«

127 128 126 12H<i101^ 102% 100 100

116% 115% lis m"13% 18 15V 15V5% 6 a 629% i9% 28 28V2« 4% 2V 4V5 5 5 562 65 60% 60%

22 ,V 24% 19% 2.3

17 17% 15 I6li<»»% 73)^ 68% 70 (^

89% mi 30 .32

10 10 10 10220 2i0 22J 2;o5 5 3 4.UB% 7 3 :i.V

13 13 13 1318% 19 fV 19

107 109V 107 10759V 6flW

64 if

.58 5860 .•9V 01

»v 85% 79 79f6 E6 62% 63%25 35 25 25115V 115!f 115V 1 5%9% 9% 9% 9%Gold was without

CustomsDistricts.

Alaska, A.T.Al'mrle, NC.Al'xdna.Vn..\n'polis, MdAp'chcola, FAroost'k,MeB.Hltimore..Bangor, Me.B' stable, M'sBath. Me.Heai,fort,NCBeaufort, SCBelfast, .MeBoston, Ms.Brazo?, TexBridgPt'nNIBr'lJfcW'nRIBruns«'kGaBuffCrk, NYHurl ton, NJCVlnc't.NVCiistine, Me,Chinpl'n,NYCharUtn, SCCh'stone, VaChicago, [II

Corpus ChrisCuyahoga, ODel.Hware, DDitroit, M'hDuLuth, MnDunkirk -YE«8tDist,MdEdgart'n,MsEric. Pa....Fairfield. CtF. Kiv. MissFernatidina.F. Kay, Me.Galvesfn. TGenesee.NYGcorge'n.DCGeorge'n.S CGlou'ler, M^Gt E Har, NJHuron, .MichKnbnnk, MeKey West, FL K Har, NJMachias, MeMai'head, MMiami, OhioMic'gan, .MhM'town. Ct.Milwauk, WMln'sot^i, M,

Imports

$

1,8 .'8

2,n6«

1,072,113

840

'670

91S:3,063,723

1S0,4S5

18,'5^i

143!4ii

365

3t;523

21

113,018299

4,176

45/

40910.933

1,049

isiisis

4,562

6,466

6!',()69

23,iitii

650725

.3,34s

38,467

"Exports.-Dom'tic Por'n

t

4,374.082

89,0521,580

15,592

i.'ans

2,975,-:22 •

42",7f6

33,92< "to

55,881

l.'iJ,'528

liS.lOS811

449,198 895

93,982 ifim

2.30,845

126,2971,810

4 2

14,6.36

9',

••••

15,174 ....

5',i>6l

76,407::;.

"is

t51.8B4 42',48i

82,338

8,671

4fl,4:5

49,934

2ri5,688

67.257

CustomsDistricts.

.Mobile, .\la..

.Montaiia,&c.Nlntucket.MsNatchez, MissNewark. NJN Bedford, MsNburvport,.MsNw liaven, CtN London, CtI'J Orleans, LaNewport, R.INewYork.NYNiagara, N.YNorfolk, Va.Oregon. Or..O'gatehie, NY0«wego, NYPamlico, NC.P del Norte, TP'quoddy, MeP. River, MissPersacola, F..P Amboy, NJPetersburg,VaPhiladelphia..Plymouth, MsPortland, .MePo'moutn, NHProvidence. RIPt. Sound, WlRichmond, VaSaco, Me .

.

!*. Harbor, NYSalem, MassSaluria, TexSan Diego, CalSanduskv, O.S.Francisco.C•Savannah, GaS. Oregon, OrSt Aug'tine.PSt John s. P..St Mark's, F.St Mary's, Ga'^toniiigton CtSnperior,MlchTap' nock, VaTeche, La. ..

Vermont, VtVicksb'gMissWal'boro, HeWillamette.OWilm'ton. NCWiscasset, MeYork, Me..Yorktown, Va

Imports

t5,774

1,4101,119

7(1,637

1!1,.3I

16,646

562.991

23,1 14'.769216,090

3,:«2

1,878

61,775251,944

55,394

4',6:4

i.eso^ets

53,.™1.322

26.5914,191

8.2016 8956,2298,06'

3,048,441

3051,824

453^654

7,514

-Exports.-Domestic

t6,631

9,0506,359

10,392385,630

1,718,694

22,974,94912,«83

n,3;o105,(166

101,041165,379

109,01612,429

14,0:32,23.1

S4.8S64,453,304

58,i23

ii'.isi

40,683

68,72)

7'.3i

2,I0»>,855

27,286

16,800

79,512

38.418193,89^

For'n.

6:6,328

5,918

!3',is5

»,77»

57,528

• Foreign ezportt, $102,150.

Page 6: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

344 THE CHRONICLE. [October 7, 1876.

The following are the totals for the month of August

:

Importa.. $35,814,861 1 Domeetic export*. $43,286,074 | ForeisQ ezp'ts. $838,144

COMPARATIVE BECAPITULA'TION.

Total Domastlc PorelKnIterchandUe. Importe. Exports. Expnrts.

Month ended Aug. 31, 1876 $35 314,864 $43,883,074 $868,144

M»nlUendcd AU2. 31, 1875 44.191.i7J 35,691,437 l.C0i,!!14

Eig>it months ended Aug. .31, 1876.. 898,257,181 .395,153,20) 10,002,1.39

BlghtmonthB ended Aug. 81, 18;».. 360,310,519 358,614,(XK) 8.925,300

Total Domestic Forelfjn

Gold and Silver. Imports. Exmrts. Erporla.

Month ended Aui;. 31, 1876 $1,342,850 $2,177 908 $581,122

Month ended Aui;. 31, -.875 1,276,237 4,335,245 273,027

Klehtmonthaended Aus.3I,18T6... 7,64S,611 40,610,S22 4,621,898

BiShtmonthsended Aug. 31, lSr5... 14.67d,9S2 60.453,344 6,942,889

Bold YalM of Merchandlse—Domtstic Exports.

Month ended Aug. 81, '76. ..$39,1^7,015 I 8 mos. ended Au;;. 31, '78.. $355, 242,614

Month ended Aug. 3!, '75... 31,783,573 I 8 mos. ended Aug. 31, '75.. 814,511,155

Not Reported.—Imports and Domestic Exports— Alaski. Beaufort, 8. C,Brazos, Corpas ChrUtl, Richmond, I aso del Norte. Foreign Exports-Brazos,Corpus Cbrisii, Paso del Norte.

\-r^ THE DEBT STATEMENT FOR SEPTESBBI, 1876.

The following is the olfioial atatemeat of the public debt as

appears from the books and Treasurer'a returns at the close of

basinets on the last day of Sdptember, 1878

:

Debt bearluK Intereat In Coin.

Character of Issue.Auth'rizing

Act.

InterestPeriods. N

Bonds Outstanding.

Registered. Coupon.

5s of 1S6868 of 1881...

June 14, '58

Feb. 8, '61

March 2, '61

July&A.,'61March 3, '63

March 3, '64

March 3, '65

March 3, '65

March 3, '05

March 3, '65

July 14, '70

1S7418801 81188118811904188518i5183718831881

J. & J.

J. & J.

J. & J.

J. & J.

J. & J.

M.&S.*M. &N.J. & J.

J. & J.

J. & J.

Q.-F.

abcddd

ddd

$260,00013,795,000

$4,6iO,000945,000

6s of 1881 126,134,40053.735,300

141 ,84 1,.300

35,646,^5061,706,2.'.0

94,150,300l.\080.000

220,410,850

63,186,950

68 of 1881 21,261,700

58, 10-40'8 52.723,000

68, 5-808 of 1866

68, 6-208 of 1885, new.6s, 6-208 of 1S67€8,6-20sof 1863

58, Funded Loan, 1881

114.911,800140,956.850216,472.45022,393,830

2,l7,0S3,i«0

Aggregate of debt bearing interest in coin— t768,76>),65 i |;931,f.60,450

The sizes or denominations of each issue of bonds are as follows: (o) Coupon$1,000, rc,i,'i8tered 1:5.0)0. (6) coupon $1,000, registered $!.noo, |5,000, $10,000.

(c) $150, $100 and $.500. (d) coupon, $50. $100, $500 aud $1,000, registered, sameand also $5,000 and $10,000.

* Coupons of $.50 and $100 bonds are paid annually in March.On the above issues of bonds, there is a total of J5.405,160 of interest over-due

and not yet called for. The total current accrued interest to date is $21,406,97j.

Debt Bearlns Interest In Lawtnl Kloner."" ~~~~"

I

Principal. Interest

38, Navy pension. Act .July 25, '68, Int. appi'donly to pens'ns $14,000,000 $105,000

Debt on Wblcb Interest Has Ceased Since Malurltr.

There is a total amount of over-due debt yet outstanding, which has neverbeen presented for payment, of *2,7:J8,530 principal and $187,036 interest. Ofthis amount, $1,907,600 is on the "called" five-twenties.

Debt Bearlns no Interest.

Character of Issue.

Old demand notes. .

.

Legal-tender notes

Certificates of deposit

Fractional currency

Coin certidcates

-I

I

AuthorizingActs.

July 17,

Feb. 12,

Fob. 25,•July 11,

Mar. 3,

June 8,

July 17,

Mar. 3,

June 30,

62 f6-1-^

'61,

62 f

'62

'6

63 I

'72..

r'62

'63-1

'641

Prior to 1869. $28,338,102

Mar. 3, '63.

Amount.

Series of 1869Series of 1874Series of 1875

First....Second .

Third...Fourth..Fifth....

217,674,75-;

59,65 ),421

64,831,464

4,94,7403,116,8733,065,301

6,686,14312,t96,356

Total.

$66,732

368.494,740

34,620,000

59,8".6,415

29,777,600

A;»gregate of debt bearing no interest $462,717,738

Unclaimed intere-l — I 21,704

Recapitulation.

Debt be.^rino Intemst in Coin—Bonds at 6 per centBonds at 5 per cent

Total debt bearing interest in coinDkbt bea-Rino Interest in L.vwful Money—Navy pension fund at 3 per cent

Debt on which Int. has ceased antes Matcritt.Debt bearing no Interest—Old demand and legal tender notesCertiflcates of depositFractional currencyCertiflcates of gold deposited

Total debt bearing no interest.

Unclaimed interest

AmountOutstanding. Interest.

$934,999,550712.3iO,450

$1,697,320,100

14,000,0002,738,530

$358,511,47234.6i0,00;)

S9,858,416

29,777,900

$462,717,788

Total $2,176,776,418

Total debt, principal and interest, to date, including Interest duenot presented for payment

Amount in the Treasury—CoinCurrency.....Special deposit held for redemption of certiflcates of deposit

as provided l>y law

TotalDebt, less amount in the Treasury, Oct. 1, 1876—Debt, less amount in the Treasury, Sept. 1, 1876

Decrease of debt during the past month

.

Decrease of debt since Ju!ie 30. 1876 . . .

,

$26,812,436

105,000187,036

Bonds Issaed to the Paclilc Itallroad Companies, InterestPayable In I^afvtnl Money.

Cluracter of Issue.

Central PacificKansas PacificUnion PacificCentral Branch, Union Pacific.Western PacificSioux City and Pacific

AmonntOutstand'g.

$26,885,1206,303,000

87.236,5121,600,0001,170.5601,628,320

Interestpaid by

United St's

Intel estrep;iid bytr'nsp't'n

$12,5'0,8043.48.',073

13,51^515877,808810,613780,403

$1,2(8,6321,462,1054,12i),4 Q

44,406B,38r

S&,47U

Balance ofInt. paidby n. 8.

$11,312,1782,019,fl«7

9,392,104833,400831,446740,932

Total $64,633,512 $.32,030,218 $8,950.?9i $25,129,8H

The Pacific Railroad bonds are all issued under the acts of July 1. 1862, andJuly 2, 1864; they are registered bonds in the denominations of $1,000, »5,0OO

and 110,000; bear 6 per cent interest in currency, payable January 1 and July 1,

and mature 30 years from their date.

Cateat UlonetarD an& (ttammercial Siigliali ^txon

KATBflOF BVOUANOB %.T LONDON AND ON LONDONAT LATBST DATES.

21,704

$27,126,227

3,203,902,645

64,591,124

12,524,945

34,520,000

}H1.6:6,O092,,-).2,2n6,575

2,09:>,18l,911

RXCBANOB AT LONDON—SEPT. 22.

Amsterdam , .

.

AntwerpHamburgParisParis ...

ViennaBerlinFrankfortSt. PetersburgCadizLisbonMilanGlenoa.Naoles...MadridNew York ..

Rio de JaneiroBahiaBuenos AyreB.Valparaiso..,.Pernambnco

.

Montevideo..BombayCalcntUHong Eong..ShanghaiSingapore,.Alexandria,..

short,8 months.

short.3 months.

90 days.3 months.

80 days.

12,1X®I2.3X8,5.40 ©35.4530.63 ©20.07)485,22'/. a25,3S>i25,37 >iai6,422.30 ©12,8520.63 ©20,6750.63 ©20.8730 ll-16@13-lb

47Ji@47^SlJiSSlJi

27.52xa2'?.67)i27.52>4!a27.67X27.52Xa27.57X

47 ®47X

U. id.U. id.

EXCHANGE ON LONDON.

Sept 19.

Sept. IS.

Sept. 22.

Aug. 83.

Aug. 1.

Aug. 23.

SepV.'21.

Sept. 20.

Aug. 84.

Sept. 2.

July 10.

Sept, 2P.

short.

3 mos.short.

3 mos.short.

3 mos.

short.

iO days.60 days.90 days.

93 days.

6 mos.

IJ 0925 2620 4235.26

121.1920.4730.4831 16-3a

27.14

48 204.83

85X and 4.9C

86

84X

U. 8'i.

Is. 1%d.4s. liid.5«. 9iid.

60 days. 3s. [email protected] mos. I 96Ji

|2 91.'i,3«5

7,172,7H»

LFrom oar own correspondent.1

London, Saturday, Sept. 23, 1876.

A week of brilliant autumn weather has juat elapsed, and the

farmers in the north of England and in Scotland have been able

to make more rapid pro}tres3 with the harvestina; of their crops.

The condition in which the crops are being stacked in the North is,

however, by no means so satisfactory as has been the case in the

Midland and Southern counties ; but a good quality of produce is,

nevertheless, being secured. The English farmers are now send-

ing moderate supplies of new wheat to market; not that theyare

tempted by the price, but because to sell has, with many of them,

become a matter of necessity. Last year was an unfortunate one

in the wheat-growing counties, and, couaequently, many of the

more needy farmers have been compelled to part with their

produce in order to meet the heavy claims due at Michealmas next.

The increase in the deliveries of wheat over those of lest season

has, up to this time, been considerable, viz,: about 45,000 quar-

ters in the 150 principal markets; or say 180,000 quarters for the

whole Kingdom. Taking into consideration the fact that this

year's wheat is of very superior quality, it is evident that there

is a great improvement over last year's poor crop; but the average

price does not exceed 46s. Cd. per qr., against 483. lOd., per quarter

last year. The lowest average last season was for the week en ding

February 19, wheu it was only 438. 8d. per quarter. The advance

established, therefore, does not exceed 43. per quarter, which

fails to represent even the improvement in quality and condition.

But it must be added that that small advance is from the lowest point

of last season, and unquestionably the Eoglish farmers must be

Badly disappointed when they are compelled to sell a superior

quality of wheat at au' average price of 458. 6d. pec quarter, when

sola'.eas July last the average price was 483. lOd. per quarter.

It is evident, therefore, that millers are under no apprehensions

about future supplies. Our importations this month are less than

one-half of what they were in September last year; and, although

there has been an increase in the deliveres of home-grown

produce, the actual supply of fresh wheat and flour placed upon

the British markets this season is only 5,373,600 cwt., against

7,445,000 cwt. in 1875, showing, therefore, a deficiency of

2,172,000 cwt. It is, of coarse, necessary to bear in mind that in

September last year our importations were upon an unusually

large scale, and the trade was much depressed in consequence.

The comparison must not, therefore, be regarded as a fair one;

but, at the same time, it is clear that, owing to the small production

Page 7: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

October 7, 1876.] THE CHKUNICIJ5. 845

of wheat in this country and to the large conBumption in progress,

we shall require a very larsre supply of foreign produce, and

millers agree that if we obtained all and, indeed, more than we

wanted last season at a low price, there are no reasons for assert-

ing that the present, though low, quotation for wlieat will not

attract fully as much as we require. The average for last season

was 46?, Id. per quarter; for the first three weeks of the present

season it was AGs. 6d. per quarter, showing a slight improvement.

The supplies of wheat in Kr^^oary are large, and this fact partly

compeneates for the diminished Importation ; but there seems to

be no reason for believing that there will, at any time, be any

deficiency in the supply. At all events, millers are very sanguine

•bout the matter, and hence are unwilling to buy much in excess

of their actual wants.

Mr. James Caird has written bis annual letter to the Times

giving his opinions respecting tiie English wheat crop. He says

that it was Impassible to have an abundant wheat crop, as a good

harvest never succeeds a bad seed time. He confirms the oft-

repeated, and, therefore, well-known remark that the present

crop is below an average, but is of superior quality. Mr. Caird

adds that " there will be a deficiency of about 13,000,000quartera.

The annual consumption may be taken at 23.000,000 quarters, or

following the mode of statement adopted by the Customs Returns,

100,000,000 cwts. For the past harvest year that has been morethan met by the home crop, and a foreign import of 63,000,000

cwts. Of this the United States and Canada gave us fully one-

half, Russia about one-seventh, Germany one-eleventh, and other

countries the remainder. This is now the fourth year in succes-

sion in which America has been oar main dependence. If that

should fail in any material degree, it would be impossible at occeto fill up the gap elsewhere. So late as 1872 our Americanimports fell to but one third of the present rate, and the average

of the past ten years is 30 per cent below that of the last three.

The sudden rise in the United States and Canadian imports in

1874 was undoubtedly stimulated by four successive yearsofhigh

prices in this country: more capital was put into the business,

chiefly in California and Oregon, and increasing breadths weresown with wheat. It takes time for lower prices to stay the cur-

rent thus set in motion, but those of the last two years have not

been remunerative to the Western grower, and the supply begins

to abate. The first eight months of the present year show a

decline ol one-sixth compared with the corresponding Americanimports of 1874 ; and the total foreign supply of the first fort-

night of the harvest year, now beginning, is one-half leas thanthat of the preceding year, and on about the same scale as that

of 1873, when the price was over 60s. a quarter. The crop in

California and Oregon is reported to be good, and prepirations

ar6 being made for a large shipment of wbeat. But present

prices would leave the grower little more than 3s. a bushel, at

which there can be no profit, and no inducement to press it for-

ward. In the wheat region of the Upper Mississippi and in

Canada the yield is much below that of last year, while in the

Elastern and Southern States it is reported to be good. ThatAmerica can still spare us a large supply there can be little doubt,

but higher prices than those of the last two years will be neededto bring it in the same abundance. In none of the Europeanwheat-exporting countries has there been an average crop, andfrom none of them can we expect an increase on the past year's

supply. British India has largely increased her export, which in

the past eight months has reached nearly 5 per cent of our wholeforeign supply. Turkey and Egypt, having no longer any credit,

are obliged to raise money by sending us more corn, but thoughconsiderable shipments may reach us from Egypt during autumnand winter, the Turkish supply in the present state of that

country must be small and uncertain. France, which exerts the

most important influence on British prices of wheat, reports her

crop as slightly above an average, the very fine quality being

expected to compensate the deficiency in quantity. But an aver-

age crop in France now barely suffices for her own consumption.

If It keeps her out of the foreign market as a competitor with us.

it is all we can hope for ; and this is doubtful, lor France has hada poor harvest of barley and rye, and of green vegetables andpotatoes, which there form so large a proportion of the foodsupply, and the want of which must necessarily cause an Increased

consumption of wheat."

During the week ending September 16, the deliveries of home-grown wbeat in the 150 principal markets of England and Walesamounted to 61,053 quarters, against 49,791 qnarters last year.

In the whole Kingdom, it is estimated that they were 244,200quarters, against 199,200 quarters in 1875. Since harvest, thedeliveries In the 150 principal markets have amounted to 152,777

quarters, against 117,771 quarters, and in the whole Kingdom to

611,200 quarters, against 471,100 quarters last year. The follow-

ing quantities of wbeat and flour were placed upon the British

markets during the first three weeks of the season

:

1878.

cwt.Imports of wheat sloce harvect.... 3,330,440Importsof fl(>ur since harvest i2*24,5'tl

bales of Eoslisb produce J.IKO.OOO

1875.

cwt4.U4fl,45S

3'.)3.131

8,I* ',000

1874.cwt.

;,9-.8..'i4a

3,l:a,000

1871.cwt

2,173,8:2310. lOS

t,T»t,qoo

Total i,S!i\,mDeduct cxporti) of wheat and Cour. t>l,33'i

7,4110,187

ii9,4T8

6.t7»,9IT

»,«3,53i4i>9. M.

7.443,6M4&>. lOd.

1.936,32747a. lOd.

4.II04,»Seta. M.

ReenitAvcrane price of EncliAh wheat.

Tbe money market presents no new features. There is a super-

abundance of unemployed capital, and the rates of discount are

very easy at about } per cent for the best three months' bills.

The position of the Bank of England continues to improve, tho

proportion of reserve to liabilities being C3'll per ceiit, against

62 80 per cent last year. Tbe supply of bullion amoanlstoaamuch as £35,017,529, against £27,584,033 ; while the reserve of

notes and coin is £22,246,069, against £14,788,809 last year.

There is but little speculative trade in progress, and no disposition

to introduce new loans or new companies to public notice; conse-

quently there are no indications of any improvement in the con-

dition of the money market. The autumn trade is reported as

being exceedingly quiet, there being but little disposition shownto operate in excess of actual wants, while there is also an almost

entire absence of speculation. The quotations for money are nowas follows

:

Fer cent.|Open-market ratns: Per cent.

i I4 luuuiaa' bank ollla l gtljjf

I 6 manthe' bank bllle liiSlJfK

I

4 and 6 muntha' trade bllle. IHStX

The rates of interest allowed by th? Joint stock banks and dis-

count houses for deposits are as under :

Per cent.Joint-stock banks nil to 1

OlBconnt houses at call .• )(Discount houses with 7 days' notice , ; XDiscount houses with 14 days' notice XAnnexed is a statement showing the present position of the Bank

of England, the Bank rate of discount, the price of Consols,

the average quotation for English wheat, tbe price of MiddlingUpland cotton, of No. 40's Mule twist, fair second quality,

and the Bankers' Clearing House return, com.oared with tbepreyioos four years :

Bank rateOpen-market ra^es

;

30andf>0rljys' bills.

3 months' bills

IS72Circulation, Including £bank post bills 56,12.3,568

Public deposits 9,4 0,S74Other deposits S0,<i5S,397

Glovernnient secaritles. ;3,203,4nOther securities 83,990,281Reserve of notes andcom n,oa,939

Coin and bullion Icboth departments.... 21,712,769

Bank-rate 4X P- c.

Oansols '.

92JfSnglish wheat SSs.Mid. Upland cntton... 9Xd.No.40mttle twist fair idquality Is. 2^1.

ClearlneHoiseretnTE. 91.054,000

£25.-;3i5,4!6

8,07J,4ti8

2i,SSi,C51

13.720,676

81,785,531

1874.

£86,136,423.^,720.576

18..H8(i.C2.j

13,M3,6f917,001,036

187S.£

88.130,(156

5.066.99382,547.14118 553.14017,894,987

1876.£

28.144,078f,B91,284

88,284.981]5.S!89,155

16,015,036

13,838.507 12,231,969 11,738,809 22,216,069

23,516,7673 p. c.

98«648. 7d.8«d.

233!5,9643 p. c.

469. 8d.: 15-101.

27,581.025

2p. c.

94X488. 7d.

6 13 lod.

33,017,6392 p. C.

E6«46s. lid.

6Hd.

lid.85,835.000

lOVd.93,42t.OUO

Is. mi. Is. OVd.81,602.UUO 102,122.000

The following are the rates of discount at the leading cities

abroad:Bank Open I

rate, market.|

per cent, percent,j

Paris 3Amsterdam 3dambari; 4Berlin 4Frankfort 4Vlennaand Trieste..... i)iMadrid, Cadizaud Bar-calona 6

Lisbon and Oporto... 6St. Petersbnrir 7

3

8

Bank Openrate, market

percent, percent,2X aBrussels

Tnrln, Florence andRome »« IX

Leipzig 4 SGenoa 6 4Geneva... tX *)tNew York .. ... 8®4Calcutta 8Copenhagen. ...... 5 5Constantinople

There has been very little demand for gold for export this

week, and the Bank of England has gained a further moderate

sum. The silver market has been rather dull at Sl^d. to 51|d.

per ounce.

The periodical, or rather weekly, sale of bills on India was held

at the Bank of Eiigland on Wednesday. The amount allotted

was £350,909, of which £270,100 were to Calcutta, £70,000 to

Bombay, and £9,900 to Madras. Tenders on Calcutta at Is. 71d.

received about 99 per cent.; and on Bombay af that price In full-

The above quotations show an improvement of about J per cent

on the previous week.

Business in the ^tock markets has been quiet durii;g the week,

tlie dealings in most classes of securities having been to a very

moderate extent. The Turkish terms of peace caused at one

period an uneasy feeling to prevail, but now that an armistice

has been granted, more firmness has been apparent, and the qno-

taions have had an upward tendency. There has been somelittle excitement in the market for American railroad securities!

owing to the collapse of the Pennsylvania Coal Monopoly. The

Page 8: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

346 THE CHRONICLR [October 7, ISTe.,."^

market clones with a firm appearance, and prices have aa upward

tendency.

In the coal and iron trades of the North of England there has,

daring the week, been rather more activity. Owing to theapproacli of winter, rather more business is passing for export to

the North of Europe, and the value of most commodities lias had«n upward tendency. Advices from Yorkshire state tliat thetrade for wool, without being activej is rather more cheerful andthat full prices have been obtained. The trade of Birminghamhas been wanting in animation, but prices in nearly all instances,

are firmly maintained.

€'ominercial anh iHisccUan^oua Ncu3s.

Imports and Exports for thk Wbkk.—The Imnorts thisyreek show n decrease in both dry (joods and freneralmerchandise. The total imports amount to $0,499,361 this week,ajjainst $6,365,551 last week, and $5,001,875 the previous week.The exports amount to f5,335,115 this week, against |5,o50,475 lasi

week and $5,432,571 the previous week. The exports of cottonthe past week were 10,071 bales, against 7,707 bales last week.The tollowlng are the imports at New York for week ending (toi

dry goods) Sept. 38, and for the week ending (for general mer-chandise) Sept. 39 :

FOREISN IMPORTS AT NEW TOBK FOK THE WEEK.1813. 1874. 1875. 18T6.

Drygoods $-2,123,567 $-2,507,213 $2,()33,8')1 $l,40ti,52lGeneral merchandise... 5,641,130 4,4-25,258 2.919,342 4,092,740

Total for the week.Preylously reported. . ..

$7,764,477808.211,676

$6,638,4(15

302,910,607$4,933,2033j7,91-i,63D

t5.4()9,251816.371.028

Since Jan. 1 1315,976,18-1 $309,673,072 $a62,893,8i3 S2J0,870,299

In our report of the dry goods trade will be found the importsof 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, lor the week endingOct. 3:

EXPORTS TROM NEW YORK FOR THE WEEK.1873.

$5,3-i5,115

H);.679,869

For the weekPreviously reported

1873.$5,37S,1.30

215,168,228

1874.$6,866,2192l7,99'i,601

1875.$5,817,619133,009,496

Since Jan. 1 $'2-23.646,353 $-221,838,723 $191,847,115 $202,914,784The lollowlng will show the exports ot specie trom the port of

New York for the week ending Sept. 30, 1876. and since thebeginning of the year, with a comparison for the correspondingdate in previous years :

Sept. 28—Str. Scythia Liverpool Silver bars $10,001Frac, silver coin .

.

6.000Sept. 23—Str. huevia. London f ilver bars . ... 63,OCOSept. 30—Str. Acapulco Aspiuwall U. S. gold coin... 700

Pernv. silver coin. 24.963Sept. 30—Str. Cityof Richmond.Liverpool Silver bars 41.0

Frac. silver coin.

.

600

Total for the week $138,2i8Prevloasly reported 40,253,861

Total since January 1, 1876 _. .$40,392,129Same time in^

1875 $63,414,4171874 43..366.687

1873 42,877.851)

1372 60,076,209137) 56,202,229

Same time In

1870 $50.03-2.2461869 26,9-23,036

1868. 66.3865371867 42,449.2121866 63.915,833

The Imports of specie at this port during the same week havebeen as follows :

Sept. 26-

Sept. 26-

Sept, 27-

Sept. 27-

Sept. 27-

8 apt. 27Sept. 27-

Sept. 27-

Sept. 29-

Sept. 30-

Sept 30.-

Sir. Alps Aspinwall Gold coin S2,.30D•Str. City ofHichmond.Liverpool Gold coin 243,3)5

Silver coin 973-Str, Clyde Havana Gold coin 1,450•Str, Cleopatra Havana Gold coin.. 23,6C0Str. Acapulco Aspinwall Silver coin 5,561

Gold coin 2,159Silver ore 31Go'dore.. 2,000

-Str. Crescent City Aspinwall Gold coin 1,450-Str. Algerin Liverpool Gold coin 24.3,3-25

Str. CityofNewTork-Havana Gold coin 58,520Sir. Snevia Hambarg Gold coin 2S8•Str. Brltanic Liverpool Gold 222,845

G.ild dollars 20,480-Str. Oder Sontliampton Gold .... 68,136

Total for the week $896-283Preylously reported . 4,0i2,334

Total since .Tan. 1. 1876 ..,, $4,958^Same time in—

1875 $9,544,8091874 4,867,5651873 6,424,4291872 4,974,0091371 8,256,413

Same time in1870 $S,-259,7541869 14,565.4291888 6.002,7411967 2,611,984

The transactions lor the week at the Custom Bonge and Sub-Treasury have been as follows:

Custom , Snb-Treasnry. ,

House . Receipts.Receipts. Gold. ~

Sept. 30 J2I1,000 $316,956 49Oct. 2 431,000 1,721.938 16

3 275,000 733,129 73" 4 305,000 46:4,149 63" 5 436,000 7j:i,539 33

6 246,000 356,866 66

Cnirency.$631,062 011,215,249 35

533,294 70853,99 f 69745,749 .37

427,976 S9

-Payments.-Gold.

$-229,762 56014,761 8567-2.739 81782,.579 794n,i.77 -20

107,290 01

Currency.$524,281 40634,334 25360.938 78917.973 648-20.681 90864,698 64

Total $1,907,000 $4,411,580 00 S3.90r,9!6 44 $2,819,104 22 $3,072 808 61Balance, Sept. 29 39,288.662 81 3.5,336,329 59Balance, Oct. 6 40.831 , 138 09 36, 170,574 9^— Thu attention of investors is directed to the first mortgageland grant sinking fund 7 per cent gold bonds of the TexasWestern Railroad Corapr.ny, which are placed on the market byMr. William Brady, financial agent. No. 33 William street.These bonds are issued at the rate of $10,000 per mile, and covera land grant given by the State of Texas of 10,340 acres, for each

and every mile of road built and In running order. The bondsare a first and only iien upon the property of the company, and astrong point is made of the fact that the road is being built about35 per cent cheaper than most of the roads now running. Theroad is narrow gauge, and will extend from the City of Houston,passing through the German settlements of Western Texas andabout twenty -five of the most populous towns of Texas, to Pres-idio del None on the Rio Grande. The president of the companyis Mr. T. W. House, a well-known banker, and one of the mostenterprising citizens of Houston. The section of Texas throughwhich this road is to run has no reliable navigable streams andIs greatly in want of railroad facilities to transport its cotton,grain, and other products to market. Along the line of the roadare large stock-raising farms, and minerals of many kinds arefound In abundance. The projectors of tl-e enterprise anticipate

for it a remunerative business, without taking into considerationthe Increased number of inhabitants and the development ot thecountry which must follow the completion of the road. Theyhave furnished the money to build that portion of the roadalready completed, and intend to push the construction of thebalance with the proceeds of bond sales and other resources.

—The attention of capitalists, in America and abroad, is called

to the advertisement, in another column, of West Virgina Coalproperties, situated on the Kanawha River and Chesapeake &Ohio Railroad. These properties owned or represented by R. H.Maury, Esq., of Ricliraond, embrace one tract of 1,383 acresfronting on the Kanawha River at Point Creek ; one tract bf 5,461acres frontinff on the Kanawha River at Cabin Creek; and onea tract of 40,373 acres on the Gauley River, six miles above its

mouth, said to contain the best developed seams of Cannel, Splint,

and Bituminous Coals found in the Kanawha Basin. These landshave been examined by several eminent engineers, who unite in

the opinion that this is one of the most promising investmentsnow offered in America. Full information in reports accompaniedby maps, wi.l be furnished by Mr. Maury, on application.

—We invite attention to the card of Messrs. Bennett & Bryce»Cotton Factors and Commission Merchants, of this city, Mr.Bennett was for twenty-seven years the resident agent and active

manager of the famous Wamsutta Mills, New Bedford, and his

intimate acquaintance with the needs of manufaciurers, and thehigh appreciation in which he is hel 1 by the community, makehim a valuable addition to the ranks of the cotton trade. Mr.Bryce was one of the founders of iheN.Y. Cotton Exchange; and.agsuccessor to the old aud well-known firm of William Bryce & Co.,

cotton factors, he brings a long experience and large acquaintanceto the new firm. Their busine.'is (which commenced October 3d,

1876,) will be strictly on commission, and their office is in theNew York Cotton Exchange building.

—Mr. A. C. Burnham, lately of Champaign, III., lias just estab-

lished himself in New York an the representative of several firms

acthe West, of which he is a member. These firms, doing busi-

ness in Illinois, Iowa, and Kansas, confine tlieir operations

strictly (except Messrs. Burnham, Trevett & Matliss, bankers,) to

investing money en real estate mortgage security, and Mr. Burn-ham, the head of each firm, has made tbis business a specialty for

more ihan fifteen years past. It is a point made by all his

houses, that every loan made has the personal attention of amember of the firm, both in inspecting the property and in

searching the title. Mr. Burnham has done business for manyprominent parties In New York and the New England States,

and refers in his business card to gentlemen of the highestcharacter.

BANOCAJp FINANCIAL

A FIRST-CLASS INVESTMENT.THE TEX.\S WESTERN NARBOW-GU'AGE R.ULWAY COMPANT

Is now oft'eriua;

The First Moktoage Land Grant Sinking Fund Seven Per CentGold Bonds op its Road.

issued at the rate of only ten thousand dollar.i (610,000) per mile of completedroad. The line extends from the Cityof Houstoa, westward through Lvgran^e. Lockart, New Braunfels. San Antonio, to Presidio del Norte on theRio Grande, through twenty-Sve popu'ous couotles. com-jrisiug the beat por-tion of Texa-, besides branches to other remunerative points.

The Stati of Texas has made a Land Grant to the road of sixteen (16) sec-

tions of land per mile, or 10,240 acres to each, aud every, mile of road bnilt

and put in runnina order.

The Bonds oflered are a first and only lien upon the property of the Com-panv, and are oft'ered with a full conviction that no better sec irity his everbeen presented to those a -eking a safe investment, as the road U beinj b illt

at a time wheu iron, materials, etc., are fully 35 per cent cheaper than whenroads now running were built.

The interest is payable semi-annually, January and Jnly, at the Farmfrs'Loan and Trust Company (Trustees of tne Bonds of the Company), in theCity of New York. To parties desirinjj safe and protitible investment, thesebonds ofl'er special ioducemtnts. Full pirticu'ars, maps, etc., may be had atthe Financial Agency of th'e Company la this city.

T. W. IIoaSE, WILLIAM BRADV,President. Financial Agent,

23 William street. New York.

ADVANCES M.\DK ONAPPROVED COTTON WAREHOUSE RECEIPTS.

R. M. WATERS & CO.

California Mining Stocks.—The followina prices, by teleOTaph, are fur-

nished by Messrs. Wm. W. Wakeraan & Co., 36 Wall street, N. Y.:

Alpha 46 Consol. Vir. , 56 Justice 13 I Savage .17

.Belcher 21 Crown Point. 11 Kentuck 11 Sierra Nev... 12

Best & Belc. 47 Eureka Cons. 14 Mexican. ... 87 |Silver Hill... 9

Caledonia.... 10 Gould*Cnr. 11 Ophir 50 ' Union Consol 12

California... (2 Hale & Norc. 10 Overman .... 77 Yel. Jacket.

'25

Chol'rI'otosi to Imperial.... 5 Hay'd & Ely. 5 1

Dividend on Con. Virginia $2 per share, payable Oct. II.

Texas SECURiTiES.--Messrs. Forster, Ludlow & Co., T Wall St., quote:

State 78,gld 101 | I State lOs. pens gUd .... I Dallas 10s. . . 80 ....

7s,g30yr3l05 8 Gs of 1802 . . S;t.7>i' • . S. Ant'io lOs. 75 ....

Ills, 1834.. 87 §IAustin 103,...§:0J 105 1

§ With interest.

Page 9: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

October 7, li76.J THE CHRONICLE. 347

*^l)t 6 a 11 K e r s ' <© a u 1 1 c.

No National bauks organized during the past week :

DIVIDBNDd,The following Dividends have recently lioeii annoancad

:

COIIPAHT.faa

OlltT.WHS^P'ABLB.

uuuku UboeaD(Daya Icclaslve.)

Rallroadn.iX

J«33

S2d0

3X

6

Daytou & M ichi''au, comDavton & Michigan, pref. (qnar.)

Lowell* LawrencePanama (qiiar.)

Oct. 8Oct. 3Oct. 3Oct. 16Oct. 2Oct. 7

Oct. 10

Oct. 10

Sept. 87 to Oct. 4Sept. 21 to Oct. 4

Oct. 7 to Oct. IB

Vermont & Mass —Bank*.

Gallatin National Oct. 1 to Oct. 6

Oct 4 to Oct. 9Innurance.

North River

FBIDAV. OCT. 6, 1876-B IP. M.

The Money Market and Financial Situation— Tlie

principal features in our market this we»k were the activity and

buoyancy in speculative stocks, and the weakness in gold and

government securities.

The money market shows a hardening tendency, though it

does not yet "fully reflect the increased volume of business in the

dry goods and merchandise markets and at the Stock Exchange,

and we find call loans still, in the first week of October, quoted

at 2@4 per cent, and prime mercantile paper selling at 5 to 6 per

cent, with exceptions on specially choice short date paper below

5 per cent. It is to be observed, however, that while our banks

hold a surplus above their legal reserve, larger than was held at

this time last year, a greater proportion of it is in gold and con-

siderably less in greenbacks, so that as the season advances it

would not be remarkable to see a fairly active money market,

and rates held firmly at 6 and 7 per cent.

The Bank of England on Thursday reported a decrease of

£11,000 in specie for the week, and the discount rate is un-

changed at 2 per cent. The Bank of France lost 5,016,000

francs in specie.

The following is the quarterly statement of the State banksin the ciiy of New York on the 33d day of September, 1876, as

compared with the last statement on June 24 :

LIABILITIES.June 84, '76. Sept. 23. '7S.

Capital 815,332,200 $15,331,200 Inc. *9,O0O

Net nroflts 5,47S,7I)0 5,150,8)0 Dec. 38;,»00

Circulaiion 32,100 31,400 Dec. 600

Duebanks 4,018,300 5,08^,0 Inc. ],fl64,70)

D .c depositors 31,900.600 83,116, <00 Inc. 1,315,700

Unpaid dividends 93,500 103,400 Inc. 9,!i00

ToUl $53,845,400 $59,716,500 Inc .$2,870,800

RESOURCES.Loans and discounts $39,519,400Other stocks, bonds and mortgages.. 3,930,500Due from banks 3,iil3,000

Real estate 1,617,70JFurniture and fixtures 10,300Cash items and banknotes 30,S00Specie 1,440,900Legal tenders 7,666,6

Overdrafts 17,-30O

$38,446,300 Dec. $1,074,3004,1HO,600 Inc. 1,2iO,iOO

Dec. 161,700Dec. 300Inc . 16,600Ino . 35 6!iO

Inc . 93,700

8,450, :iOJ

I,bl7.f00

36,70056,400

l,534,f»0

10,409,60015,3W

Inc . 2,741,000

Dec. 3,000

Total $66,S45,40O $59,716,300

The last statement of the New York City Clean ng-House banks,issued September 30, jhowed a decrease of $2,33.5,97o in the excessabove their 2.5 per cent, legal reserve, the whole of sucli excessbeing $16,323,77.5, against $18,058,750 the previous week.The following table shows the changes from the previous

week and a comparison with 1875 and 1874--, 1875.

Sept. 30. Differences. Oct. 3.

-1876.- 1874.Oct. 3.Sept. 33, ...

Loans and dis. $3')I,S4-',001 82«2,42H,»00 Inc.. $536. 900 $378,811, :J00 $381,377,000Specie 18 897,700 16 463.2 W Dec. 2,434 501) 6,443,000 18,374,2'JO

Circulation .. 11,493,-WO 14,«i;,3!X) Inc.. 153,000 17,(i2").8')0 25.4I«,6XI

Net deposits.. a31,6.3-X4'X) 337.530.50 J Dec. 4,053.9 'iiJ, 4O:j.60O 886.925,900

Legal tenders. 5T,6B;»,»00 56,7o5,;00 Dec. 914,700 16,400,600 63,966.100

United States Bonds.—The government bond market hasbeen pretty steadily declining, and the causes for this weaknessin tone are not cle<1rly apparent. The principal immediate causeseems to be found in tae declining teudency in gold and theopinion, cultivated in some quarters, that the premium will goconsiderably lower. There have not bsen very heavy sales, andlor foreign account there has been some purchasing, btit the mar-ket has seemed to lack that support and readiness to take all

stock offered, which has been its characteristic feature duringmost of the past year. Undoubtedly, the weaker tone is also

due in large part to the impression lately created that all the five-

twenties would probably be retired within a short period. AnEvening Post dispatch from Washington, to-day, which shouldbe taken with all the allowances properly made lor early infor-

mation, says that Secretary Morrill has been authorized by the

Rothschilds of London to issue another call for $10,000,000 five-

twenties, on account of a further subscription of that amount to

the 4i per centum bonds. The Secretary was also informed that

$740,000 in gold would be shipped to him by tlie Rothschilds, bythe steamer Russia, which sails to-morrow, to pay for thatamount of 4^ per centum bonds to be delivered in London.Closing prices of securities in London have been as follows:

Sept.83

Sept.29.

Oct.

V. S. 68, 5-20S, i86i. Old...

U. S. 69, 5-208. 1867TJ. 8. 6h, 10-4US

New5» ...

lOii

ii,9

108)<107'/.

10614109

108JS1 1'I7J<

1116

109108 Ji107 J,

,—Kuu;;e since Jan, I, V6.—

,

Lowest.I

Ulghcs^.

x;c.3'< Apr. li^ lOS;; Jnly 311071^ Jan.. ft] 111 June 9

105X Apr. 80 lOOX Anjr. 15til lilt .Ian.. 13' 108H" Sept. V8

1175118

ni116116118118

114>i

; 116Ti•1I7«

Closing prices daily hive been as follows:»ij)t. Oct. Oct.

Int. period. 80. " "

6e, 1881 reg.. Jan. * July. 11754

88, ISHI coup. .Ian. *Jiily.»ll8>jCalled bonds May & Nov.»ll3>,-

69, 5-30S, 1885 reg..May & Nov.'llSSi xllO •109X6s, S-iOs, 1865 coup. . May & Nov. *11SX 'lis •111

6«, 5-209, 1865, n.l...reg. .Jan. & July. 113Ji 118>f 113

6b, 5-J08. 1865,n. l..coup..Jan. & 3aU .»lViM6b, 5-309, 18H7 reg. .Jan. & July. 'lie!*

6h, 5-80B, 1867 coup..-ian. * July.»116J499,5-309,1868, ...reg..Jan. A Jnly. 113H»B, B-20S, 1863 coup. .Jan. ,fc July.«118>i59,10-4118 rog.. Mar. & Sept. Illi4

89, 10-40» coup..Mar.&Sept.*!!5!4 *U!iH8s, funded, 1881 reg..Quar.—Feb.*114Ji 'lUJJ^ >ar.—Feb.*114Ji 114«

laar.—Feb.'inx *111H.liar.—Feban. &July.*13» 'Wtt

59. funded, 1881 .. . conp

.

4^9, 1S91 reg..

4^9. 1891 coop..6g, Currency ..reg..

ll57i115 Ji'117Ji

Il'/X'I14)i

IISK114H114Kt111

Oct.4116V1I7S?

10<J4•109^4112<<

113X112)4

•115"/i

115H117>«

*mH•114115114«ll4^i111

Oct.5.

ll«M117•10»Vma

11214•115)4115)4

•117

111)41141I4J4

••.14

114•110^

Oct.6.

116

•11«X•109•109

•J12WIKmx

•115lis

•116H•11634

•1«X114)4

11»X118)4•no

125X 125 1*4>4 124

• Thl9 is the price bid; no sale was made at the Board.

The range in prices since Jan. 1, 1876, and the amount of each

class of bonds outstanding Oct. 1, 1876, were as follows:

68, 1881 rog.

69, 1881 coup.69, 5-209, 1865 coup.6.1, 5 209, 188% new. .coup.

6s, 5-208, 1367 coup.68, 5-809, 1868 coup.

58, 10-408 reg.

6«, 1040s coupBs, funded, 1581 coup

.

4^9, 18)1 reg.

4'/49. 1891 coup.68. Cnricncy reg.

Since Jan. 1.

Lowest.I

Highest.116 Oct. 6 128X Feb.117 Oct. 5ll24>4June 18

182915

232938

.„ , _ ... 21

inkSept. 18!lllKScpt. 29

113!/, Aug. a0 118X Mch.11174 Oct. «;131 June!

~ 6|133>4 June :

6 124)4 J'">B '

51119)4 Jan.'

l!l?4 Feb.8119 Feb.

115 Oct.117)4 Oct.114 Oct.111)4 Oct.113,«4 Oct.

132,>4 Jan. 51-M Feb. 23

AmoontRegistered.$19,1,664,700

85,646,856

111,706,250

9I.15»,3001,5,080,000

141,841,300

^y,4 10,256

Oct 1. >

Coupon.$

89.071,659114,911,800

140,956,(51216,473,45022,393.800

52,725',666

297,083,900

61.623.5121

State and Railroad Bonds.—In State bonds the Tennessees,

Virginias, and Louisiana consols are all firm. Railroad bonds

have shown a large recovery in the Central of New Jersey issues,

and a good deal of firmness in the general list, in sympathy with

the buoyancy in stocks. Ohio and Mississippi second mortgage

bonds fell off to 53 since the payment of interest, and to day sold

back to 57. The president of the company, Mr. Daniel Torrance,

remarks in his annual report, just issued :

'• We have been able to pay out of the earnings the yearly fixed charges of

Interest on our bonded debt, and the purchasca for its sinkmg fands. whUe at

thesametime the roadway, the equipment and ether properties of the coni-

pany have been maintain:^ in their usually efficient condition. •

"By expenditures for steel rails and other improvements of paramount

necessity, includin:' co:it of right of way and constructing 6 3-3 miles now track

from Paiia to Tower Ilill, on the Sprini^llcld Division our current liabilities

have been increased S '90,-58 73. To provide funds for these, and like puiposee,

the company has in reserve $1,000,000 Springfield Division first inortsa^.;e bonds.

These bondj have never been put on the market, and it is not the intention to

negotiate them nntil it is clear that the interest is fairly earued. Of this there

IS a good prospect."

The following stocks and bonds were sold at auction :

SHARES.40 Farragnt Fire Ins. Co 12*

60 United States Warehousing Co 51

50 Metropolitan National Bank ^ Jljii

10 Merchants' fire Insurance Co 1™25 Fireman's Fund Insurance Co 87

6 shares Irving National Bank 1«BONDS.

$10,0(K)New York City 7 per cent, due 1865 ........10934

2,000 St. Louis & Souttieastern RK. Co. first mortgage consolidated,

coupons on o)4

6,000 Toledo Peoria & Warsaw RK. Co. (Western Division) eccondmortgage 7 per cent, coupons on 80

l.COO Interuatioiml RK. Co. of Texas first mortgage 7per cent, gold, con-

pon of April, 1673, attached 71X

Closing prices of leading State and Railroad Bonds for three

weeks past, and the range since Jan. 1, have been as follows:

ST.^TE8.Tennessee 6s, old

do 68, newNorth Carolina 6-, oldVirginia 6s, consol

do do 2d series..

Missouri 6s, long bondsDistrict of Columbia, 3-65S 1924

Railroads.Central of N J. 1st consol.Central Pacific 1st. 69, goldChic. Burl. & Quincy consol. 78

Chic. & Norlhwest'n, cp., goldChic. M. & St. P. CODS. 8 fd, 7s

Chic. R. I. & Pac. let, 79...

Erie Ist, 78, extendedLake Sh. & Mich. So.Sd cons.cpMichigan Central, consol. 7s.

Morris & Essex, Ist mort....

N. Y. Cen. & Ilud. Ist, coup.Ohio & Miss., ions. eink. fundPitisb. Ft. Wayne & Chic. Ist.

St. Louis jS Iron Mt.. 1st mort.Union Pacific Ist, 68, gold

do sinking fund

Si-pt.

2!.

44)444)4

*16

*3iii108)4

•71M

9!110?1

93)486

109•1C9

117•119

•9m•120•93

1063491 ?i

Sept.81.

44)443)4

•16'/.

•77•33)4108)471

80110)4

94 >4

86)4110•109

lOi•117•118V2

•120

97)4108)4••''1)4

Oct.6.

•44

•16"•77

•S)•108)4•70,»4

81)iIC!t>4

mi•169"

'108)4

•97.H106);

91K

^Range since Jan. 1, '78—

>

Lowest,43 Mch. 8840)4 Jan. 4

13 June 23

76)4 Jan. 2982 June 23100 Jan. 866)4 Jan. 2i

Highest.51 Aug. 2549 Aug. 3113 Mch. 10V Sept. 2146)4 Feb. 26108)4 Sept .22

75 Mch. 14

71 Sept,ItVl Jan.

107X Jan.83)4 Jan.79!4 Jan.107)4 Jan.108 Jan.9899114118:»0

Aug.MayJan.Oct.Oct.

114)4 Jan.95 Jan.1113)4 Jan.%7ii May

15112)411(111

31 96K8 98)43,111!4

2Sj 115)419 101

51074 121)4

3,128)44 100)411122)44 102>,

4il0720, 97)4

Men. 3Aug. 26June 17Jnly 18June 19Juue 14

Apr. 7Sept. 20Mch. 20Aug. ISMch. 4June 8An?. 21Jnly 7Sept. 21Feb. 21

• This is the price bid; no saie was made at the Board.

Railroad and iniscellaneous Stocks.—The stock markethas taken a decided turn, and exhibited a general buoyancy andactivity, such as has hardly been seen since the early part of the

year. In taking a fair view of this sudden change in tone, it

must be admitted tliat there has been little new to affect the

actual value of stocks, and that the upward movement is a nat-

ural reaction from the unreasonable depression which had recent-

ly taken place, under the break in the coal stocks and the severe

hammering of prices which subsequently took place. In addition

to tlie real facts tendioff to depreciate the value of railroad

stocks, which were certainly unfavorable enough, there has beea

of late a determined and vigorous bear movement against prices,

and under both these influences an unnatural depression took

place and a large short interest was created. Tue purchases to

Page 10: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

348 THE CHRONICLR [October 7, 1876.

cover shorts have, therefore, been the principal cause for thesharpness of the present upward turn, although it may be attri-

butid in part to a healthy reaction based on better prospecs forrailroad and other property. Among the favorable events of theweek was the change in administration of the Central Railroadof New Jersey, with the election of Mr. Knight of Philadelphiaas President. At the close to-day prices were well sustained atthe advance.The daily hierhest and lowest prices have been as follows:

Saturday, Monday, Tuesday, Wodnes'y, Thursday, Friday„„.

2 Oct. 3. Oct. 4. " • -Sept. SO.At. &Pac., prt lik' IVAt.&Pac.Tei. 'ISX ...Central of N.J 24X 26»C.MU.&St.P. 28« aSVi

do prcf. 58x 59XChic. & North. 35 aaa

do pref. 59X li9KC. K. I. & Pac. xIOO 104XCol.Chlc.&l.C "8XDel.&ll. Canal

"Dcl.L. & WesiErieHan. & St. Job

do prcf.HarlemIlL Central....Lake Shore . .

.

Michigan CentN.Y.Cen.&H.UOhio & Miss...PsclflcMall .

Pacific of Mo.PanamaQuicksilver.. .

St. L. 1. M.& 8.St.L.&K.C.pfT. Wab. & W..Union Pacific. 'W^ 62*4West. Un. Tel. 70 70^Adams Exp... 'IDS 107American Ex. '58

Onlted States. 61 61Wells. Fargo .. 79 79

15% 15« "iSJ,

62M 6-1

Wi)« C8X

. f("><

•21X'.'':

138X 1.13X84 81

53>i Si%41 «X9TX 9SUH IIH32ji 83S*< S%ma Visa "las

X% 28V28!, 2tiV58!< 59K34X 8JK59 59X98X lOOX'UK S%61

X

63JsMH bin

.,S>^ ,^^•12 li'21 23ma ...

79 79K53K aa41

X

42X97% 98X;

22K a}(

:8 29H28^ V9>f63 5954SIX 84X59 59X985S 99>i•SX 3J<62>i 6166 69^•4 »a13 13

20K ....183 183

80X 80>i53 J( sm41 M 42K97>« aaa^10 uaS2X 23

128 130

162162928X na68« 59X345« 3559 59V98X !t9)i

•3H 3;<

63H 68

67K 71«9X 9X

• .. 13J^23 23

132 !< 13333% Si%MM M<41V 42J«98M 98SlOX lOXHH 22«

Oct. 5.

2 2•:fi 2033>« 33X27 J4 28X68 59^34 i< asa59X 60

Oct. 6.

iJ« L38 40H27X 28M57V 53V35X S6i4Wa 61

H

99 lOOV lOOX 101

X

3V Sv 'SX »%

I9X 18

'128

14ISO14

67X 69Y70 H 74)^95« lOX13X ISX23% 21X131 1S4•81 85

54X 56V42J( 4598^102lOX 11

22« 22J<

128" 128"

*a *%61 62t«

"OK 70X•.... lo;59 59

61

H

<2"77

29K 29X4,S 4X

•-... 62j,-

70K TOX•115 ....

Saa 58Xeoa ma78X 81

IBX

68 69V71 73*10 lOX13X 14K21 24134 134

84V 84V5^% 56V44 46lOlX 103lOX 11

22X :39i

•!!!!l30"•.... 15• ... 19• .. 18X

28 28i'A *a6iX 62V70 70X

105 105oSV 58V•59 6;v•76 83

This Is tlie price bid and asked : no sale was made at tne Board,Total sales this week, and the range in prices since Jan. 1,

were as follows

:

• ... 63>i70% 7110559 5961 61

78

4V «.... 62«71 71X

' ... 10859 5961 61

Atlantic & Paciflo prefAtlantic & Pacific Telegraph . ,

Central of New JerseyChicago Mil. & St. Paul

ao do pref...Chicago & Northwestern

do do pref...Chicaeo Rock Island & Pacific.

.

Colambus Chic. & Ind. CentDelaware & Hudson CanalDelaware Lack. & WesternErieHannibal & St. Joseph

do do prcfHarlemIllinois CentralLake ShoreMichigan CentralN. Y. Centrol & Hndaon River.

.

Ohio & MississippiPacific MailPacific of MissouriPanamaQuicksilverSt. Louis I. M'ntain & Sonth'n.

.

St. Louis Kan. aiy & North, pf.

.

Toledo Wabash & WesternUnion PacificWestern Union TelegrapliAdams ExpressAmerican ExpressUnited States ExpressWells, Fargo & Co

Salesof w'k.Shares

1,350300

156,41481.100678177,0i0

15,16731,389

10017,0)0

510,5565,80fl

1,150

1,000l,?0O1,363

388,61068,11631,8312,J.8

14,0306003V)70

'240

ll.ftjl

70041,741

105290639850

.—Jan. 1,

Lowest.1 Sept.

14X May20% Sept,2ly, Oct.S7U Oct61% Sept.55^ May9S14 Oct.3!/j Mch

61 14 Oct.64;4 Oct.8>i Aug,lOX Aug,18JC Aug

130J4 Jan.79 Oct.

48Ji Sept.ZiH Sept.9S Sept10 Aug.16H Apr.I'/jSept,

126 Sept.12 Aug,15 Jan.

22K Jan.5£ June

S^% May63% MaylOly, Jan.57 Jan.58 Jan.79 Sept

1876, to date.-Higbest.7 Jan.28 Feb.103% Feb.46% Feb.84 !< Mch.4514 Feb.67X Feb.111^ Feb.6«i Jan.

125 Jan.120% Jan.33% Mch.2354 Jan.

33X Jan.14') Feb.

103?i Mch.

Whole y'r.

1875.-

68% J'in.

65>f Mch.117)^ Feb.24% Feb.39% Jan.16 Mch.

140 May80M Feb.8o% Mch.33 Feb.6% Jan.

74X Jan.

80M Jan.114 Aug.67 Feb.76% July91 Feb.

Low3%171499X28%5133 'i

4(i

100!^

3

106X12!415%SO^127>i88 "4

51)453100

14%30%7%

110%1313

19X2%3670%985041%71

High1829^120

40a67!448%62%109%9%

n41233i%30)i37%133

10680%8314101%31%45%5517335274531%83^84%101%6563%92

The latest railroad earnings, and the totals from Jan. 1 to latestdates, are given below. The statement includes the gross earn-ings of all railroads from which returns can be obtained. Thecolumns under the heading " Jan, 1 to latest date" furnish thegross earnings from Jan. 1, to, and including, the report mentionedin the second column. v

. Latest earnings reported , Jan. 1 to latest dale1876. 1875. 1876. 1875.

1,64,633 $40,961 |1,6U7,631 $S16,C86318,811 408.51984,300 15,300 722,193 662,451

1,259,143 1,216,12831,803 27,064 801,908 898,93264,')55 7i,817 4.')6,480 S65,3-2ti,590 8,2ii0 189,8)3 189,3^7

43,651 30,1131 1,205,984 816,.560

1,886,000 1,567,632 13,143,168 18,567,044617,9)3 490,333 3,679,098 .3,403.654

1,049,870 l,06fi,3S7 7,549,623 7,473,611

646,150 741,206 5,861,670 5,606,5588,136 10,444

33,497 34,4110 815,283 275,16767,977 70,1098,029 5,806

138,0,7 113.13'. 1.044,789 853.51286,K81 77,403 1.56),107 1,335,2J6

681,057 718,101 6,348,761 5,63.i,522

31,8J8 33,824 1,035,188 895,82630,«85 l'>,:h5 838„390 804,01)6

r:4,7A3 315,887 1,852.867 3,100,413106,661 93,882 707,910 709,183402.489 355,718 3.169,878 3,901,514aa3,64S 200,777 5,055,419 4,810,76676,068 70,15j 2,155,038 1,9;0,89<»

118,096 118,873 1,069.018 998,.300

131, las' 137,930 1,1 i6,l 14 1,017,19263,323 46,444 412,975

330,111 340,966 2,719,424 2,419,50815,703 17,807 134.7;l8 121,111

S«7,8!M 333,489 2,039,841 2,118,63712,673 13,553 332,317 391,006as,800 90,161 2,531,63! 2,486,389290,6 '0 246.6'24 8,2'i3,491 1,891,29!!

22,8S'2 30,021 749,703 661,51370,069 69,455 .579.809 4-)5,88t

145,028 123,8114 1,071,613 755,639

interested in having a lower gold price, and it is probable thatthe idea of a large decline in gold is encouraged by them ' iri

every practicable way. The importations from London, whichfigure conspicuously in published statements, are not really ofgreat importance, but still have an effect in showing that areturn inoveruent is going on. The steamship Main, fromSouthampton this morning, had on board £81,000 in coin andbars. On gold loans the borrowing rates were 4 and 1 per cent.

;

loans were also made flat. Customs receipts of the week were$1,907,000.The following table will show the course of gold, and opera-

tions of the Gold Exchange Bank, each day of the past week:

. Quotations

Sept. SO....

Oct. 2....

3 ..

Saturday,Moniiay,Tuesday,Wednesday,Thursday,Friday,

Current week. .

Previous week .

Jan. 1 to date...

Atch. Top. & S. Fe..2d week of Sept.Atlantic &Gt. West.Momhof July...Atlantic & Pacific Ist week of Aug.Baltimore & Ohio Month of Aug...Bur. C. Rap. & North. 3d week of Sept.Bur.&Mo.Riv.inNeb.Monthof Aug...Cairo & St. Louis 3d week of Sept.Canada Southern.. . . 8d week of Sept.Central Pacific...... Month of Sept..Chicago & Alton— . Month of Sept .

.

Chic. Burl.&Quincy. Month of Aug. ..

Chic. Mil. cS; St. P3J1I.. Month of Sept..Cin. Lafay. & Chic, .od week of Sept.Clev. Mt. V. & Del. ..Month of Aug...Col. & Hocking Val . . Month of Aug. .

.

Denver & Rio Graude.Scl week of SeptHannibal & St. Jo . . .Month of July. .

.

Houston c!fc Texas C . .2 w'ks end.Aug.18Illinois Central Month of Sept. .

.

Indlanap. Bl. & W.. .3d week of Sept.Ijit. & Gt. Northern. .Sd 'weiik of Sept.Kansas Pacific Month of Ang. .

.

Louisv. Cin. & Lex. ..Month of Aug...Louisville & Nashv.. Month of Aug...Michigan Central 4th w'k of Sept.Mo. Kansas & Texas .8d week of Sept.Mobile & Ohio Mouth of Ang. .

.

Nashv.Chatt. &St.L.Month of Aug...New -lersey Midland. Mouth of Aug...Ohio & Mississippi ..Month of Sept..Paducah & Menmhis . Month of Ang .

.

Pliiladeiphia & Erie Month of Aug...St,L.A.&T.H.(brchB.)3d week of Sept.St. L. I. Mt. & South. 3d week of Sept.St. L. K. C.A Norlh'n . M onth of Sept,St. L. & Southeastern.8d week of Sept.St. Paul & S. City, &c. Month of Ang.Tol.Peoria& Warsaw Month of SeptXhe (jtolfl maruui.—Gold has shown a weak tone, and there

are some who seem to anticipate that the price will yet go mate-rially lower. Undoubtedly there are parties who are heavily

Op'n110%11"%110110109 Si

10'J%

110'=

no113

Low.110110no109%

mamu109%10914

HighjClos.110%110^110110109%109%

11034110'4

115

110110110

103^109%109%

109%110J4109%

TotalClearings,

$48,797,00021.881,00019,032,01)0

11,146,033,896,00033,52'.,000

8164,677,000118,435,000

Balances «

Gold.$1,9.V4,166

1,343,581

831,6511,463,913I,48t,-JOn

1,879,783

1,158,350

Currency.$3,203,6281,482,784916,698

1,638,440l,5o8,401

1,413,687

1,275,248

Kxclianse.—The foreign exchange market was rather duearly in the week, but subsequently there was more doing, anbankers advanced their rates slightly, which had the effect o^checking transactions. The small supply of commercial bills

making against grain and cotton shipments was the principalcause alleged for an advance in rates.

The Bureau of Statistics at Washington sliows a remarkableexhibit of exports and imports for the eight months, Jan. 1 to

Sept. 1, as follows, the figures being all gold values:

t Imports. , . Exports. »

1876. 1875. 1876. 18^5.Merchandise... $298,257,121 $360,310,519 $302,844,753 $333,4.36,455Specie 7,648.611 14,678,993 4.5,468,820 67.396,133

'•= Total $305.90.5,732 $374,939,511 $407,683,573 $390,832,558Decrease 89,088,779Increase 16,360,965

This shows an excess of exports over imports of $101,777,841in the first eight months of this year.

Quotations for loreign exchange are as follows :

Prime bankers' sterling bills on London..Good bankers* and prime commercialGood romm ercial

Documentary commercialPans (francs)Antwerp (francs) ,

Swiss (francs) .. . ,

Amsterdam (guilders)Hamburg (reichmarkg)Frankfort (rcichmarks)Bremen (rcichmarks)Berl *.n (rcichmarks)

60 days.83 15,4.83%82 @4.S8,[email protected]%,80 @4.81i5 @6.81J<83 ©5.2114,23;[email protected]%@ 40" " 04;i

94%

94ii

—Oct. 6.-

93%@

91%®

3 days.4.&1%@4 854.83J4®4 S4,'/i

4.82 @4 83

4.81%®4.82Jtf5 [email protected]%5 21%@S,19%5.20,'[email protected]%40%@ 40%94%@ 9594!^@915j@94%@

969593

Nexv York Cltr Banka.—The tollowtng statemeol sliowathe condition of the Associated Banks of New York Citv for theweek ending at the commencement of business on Sept. 30, 1876:

ATSBAeX AMOUNT OF-

Banks.Loans and

Capital. Discounts.Legal

Newrork »3,0OO,0OO

Manhattan Co 2,050.000

Merchants' 3,000,000

Mechanics' 2,000,00C

Union 1,500,000America 3,000,000

Phoenix 1,800,000City 1,000,000Tradesmen's 1,000,'JOO

Fulton 600,000Chemical 300,000Merchants'Exch... 1,000,000aallatln, National.. 1,500,000Butchcrs'&Drovers' 500,000MechanlcB&Traders 600,000(Jreenwlch '200.000

Leather Manuf 600,000

Seventh Ward.... 300,000

State of N. Tork. . . B0O.CO3

American Bxch'ge. 5,000,000

Oomraeroe 10,000,000

Broadway 1,000,000

Mercantile 1,000,000

Pacific 422.700

Republic 2,000,000

Chatham 450,000

People's 412,500

Koriih America l.OOO.OOO

Hanover 1.000,000

Irving 500.000

Metropolitan 1,000,600

Citizens 60C',OC'0

Haasau.... 1,000,000

Market 1,000.000

St. Nicholas 1,000,000

Shoe and Leather. 1,000,000

Corn Exchange 1,000,000

Continental 1,500,000

Oriental 300,000Marine 400,000Importers'^ Trad'rB 1,500,000

Specie. Tentiersitie

t9.137.«.0 11,536,000 »1,J52,010

Park.Mech. Bank'g Abso.Grocers'North UlverEast RiverManufact'rs'&Mer.Fourth National....Central National...Second National....Ninth National. ...

First NationalThird NationalN.r.Natlonal Eich.Tenth National

'Bowery National.. .

.

New York Co.Nat..German American.Dry Goods

2,000,000500,000300,000400,000350,000300.000

SjMO.OOO4000,000300,000

l,500,CCt50C.OOO

1,000,000500,000500.000250,000200,000

1,000,0001,000.000

6,494,500S,4n,3llO

6.4;5.ti00

4.i2a.'joo

8,910.6'JO

3,068.0005,8:3,100

3,1)3,000

1,611.100

8.770,6003,9i2.7004,094,0001.5.6.0001.9-.2.900

a.OM.lOOSS!I,500

1.V24.300

11,:^74,40C

2!.359,9304.710,8003,Sl'(,9O0

1.797.900S,6S6.(100

2,827,0001.238.200

2.J26,500P,304.300

2.203.0J0

14,J 10.000

1 .493.SO0

2.066.000

2,757.6002.43;.5(0S.SC.'.SOO

2.467,1U1S.3£S,7001.2S9.30U1,6;8,300

76.C67.4tO

i!!.at5.:oo

1,003.600716.400

S59.1011

784.600550,100

16.2l8.1l'0

8,II2S,000

I,6;.^.000!,753,90(i

6,013.0005.;f9.7i0

1,209.010

1,296 .SOC

l,lKO,;i(0

1.207,0002,68i.SOO

1,955,600

81U.%0566,9j0251,500271.100

l.OlSSO1,2)9.000

U9>.S

276.70006,100

se.'.soo

4O.iU0312,00052,000?2,4O0

275.r00

125.30085,200

560,200

1,308,50078.1)00

158.4CO15,000

271,9009i,500

6.1t0SS,500

68,0001S,OUO

;.4i6.0oO65.50083.000165.60075.400

]43,20C66,6,10

28.1-00

5.300

1S9,«005C0,»00

:,19I,;,00

25.000

2,«0C1S,20020.^001.600

420,200

90,300

s'7'2'6

ESi.200820,11,0

17,900104,800

2,800

isf^iob

7,500

93U,7C01,708,300I,7Ci,5001,182,900

3.693.800

612,0002,571,000413,700650.700

3,133,900796,800481,'200

3;9.iWI27E.50C165.400fc7S.100

3il,500566.200

1.527,000

1.345.500721,400345.400769,300468,200750,700233.40046J.000570,900415,600

1,555,000395.90044S,Ooo

6'.(',6oc

205,60057^,300982,000593.100k04.700426,600

3 931.030

3,145.3(10

2)5.4U0191.700

S3.).2oo

177.00087.800

2,E62,1I».

1,672,000483.000

;,750,9fO

:. 1711,810

3,320,3002H.300131.300232,000331.000332.100261 ,'200

Net Circula-Deposits. tion.t3,30;.8(lU nsjm4,743,100 9.5007.313.600 2S8.20O5,429.2.10 130,0003.410,300 ... >.9.3 -5,500 1,1008,560,000 : 9,0006,331,9001.9l«.000 615,3«l1,368.3009,262..)00 , ^

3,49j.5'.i0 413,9002,234,8)0 475.9001,416,000 113,0001.1S6.7C1C 195,700753.600 2.700

3.063.400 250.8009'J4,0O0 . 80.000

1.153.400 43.0007.780,700 292,1008.391.4C0 2.701.1 DO3,093,400 900,0003,601.200 45,0001.938 .600

2,t69.S«l 450.0002,92S,7C0 274.8001,168.500 5,5002.0..7,300

2.5S3,5'JC 2S6,4002.1S5.000 91,000ll,07?,i«! 18,000l.r.6,900 ISO ,0110

!,133.-21P 3,9002.147.100 163,400

!i83,4l0 692.8002.373.50O 630.6001.610.000 4Jiai

582,5002,365,1001,161,700 1.0001.794,700 222.6,00

'.6S:3,-200 473.10076,731.600 eo.roo

843.100 3J7.500705.90085!,eiH)

678.300 62,900412.410

12.591.5PC 1,0-6,700

7.14MC0 1,3'2«.000

1.83: .100 45.0006.173.800 45.0110

6.239,700 45,0008,071.3 49.400c98.i00 90.000628,'200 450.000

876.000 225,000l.C9!.:00 180,000

2,609 .'200

1.419,100

Total 173.435.200 J262.4i3.9J0 116 453.200 tS6.753,2JO »2-27 ,532.500 tI4,647.20O

The deviations from the returns of the previous week are as

follows

:

Loans Inc. »-.S69nOj NetDeposltSpecie Ueo. 2,4(i..50C Circulation.... ..,

l«gal Tenders De=. 914,7001

..Do-!, ll.03'2.900

..In.?. ili.SJO

Page 11: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

October 7, 1876.] THE CHRONICLE 651

Boaton Ifanks.—Below we gire a statement of the Boston

National Banks, as returned to the Clearing House on Monday,

Banks faplWl. Lo»ni. Specie. L.T.NotOB.Depp«lt«. ^l"''';

AH„ 1.10000 *i.t.-im 11.500 171,<00 I.OIS.MX) 44».1I1I0

Black'itoie.. ...... V «« 000 4.13k..0U 10.7'JO 3,1),100 1.7i;.30O 5W,:1X)

BMton ....... .. 1 liCOOCO Z.<37.aOO :.9.10J 75,410 722.;00 5 I.WJ

Boylstoi........ . .. . 700,000 i.mosoo IJ.OOO 71.i;IO 7J».J0O Srt uoo

Broidwav ..I. SOO OU) 41(l.l00 !... 50.0(X) 190.UJ0 i:».W)0

CeStraT '^i. MOOOO hlSt.Sm ... W.TOO Mr,700 SOj,(00

cSlomblari .... LOOOOliO 2.8V..I00 I3.3C0 87.500 »S-i.lOO 738,500

Contment" ........... 0(0 00) 2,n8. 10 7,500 »<500 8H.0O0 533,300

Kllot . :,000000 2,179,300 15.100 lil.m !il».COO 7» .OJC

Everett ...: 400 000 »3J,500 5,700 7S.1C0 mKX) IIVOOFaneull >i»ll 1,UIO,00) 2,211,700 !H,500 Sl.fOJ 1.0 J ..00 fiWFreoman'." ... "00,000 1,5^ .TOO (.OOO 61,100 57!,5O0 3»,300

Globe ......... 1,0*1000 2.5-O.fOO ... M.W l,i85,5(!0 I7».0(«

HamlUon .. 750.00(1 1,<6«.60U 7,200 lll.lOl) l.Oue.WJ 223.400

Howard ... 1,000,000 2,Sli2,500 4O,:00 eiUOO 828.8011 435.100

Man "actnrer;-. .... wflrflo i.isa.JiO s.wi 96.W0 ;88.ooo IjS.hix,;

Market ....... 800,(W) l,8il,'00 IH.OOO 6;,800 6I.->,^(X) 4i.,0HI

Ma.9ac;VuMtt... . BOOOUO I HJl.200 79.800 130.C(« l.i,3.800 45.000

Maverick .••• IWOO a "3,4oo J9,;0J Ul.'OO l,6)3,t«) 33S.200

MerchamllVe MOOOO 1 «1,H00 9,9(0 91,100 380,700 i;5,;'0'

Mlfchanw' .8,000000 6,3:i8W IH.'M et\,kV 4,520.«00 1,«S2,UX;

MStroSomM 80000D -.75.-200 .... 51.0(» 120,700 45,000

MountVornon 200000 (62.000 8600 49.500 2«.10ll lr2,J00

"ewKnglanci;;... lOOJOfl 3.«3,600 19,100 46,900 731.100 66l).5«0

North ..IW.tm i.iil.m 99,500 193,100 l,2l.^.«(Al 438.500

OldBiJIon.'.'.V..'..' 900.000 2.90' .2(10 69.!00 263.200 l.llOS.aoo 24:.rOO

Shawmut 1.000,000 2,7 9.V00 85,10(1 169,900 977,(00 3 4,100

Shoe ana Leather l.OOCOOO S.m.\O0 16,l(i0 2i",7oo 1.2J8.5(M) 751 .uo

State 2000000 3.S;1.300 1,600 119.»0() l.osi.to.-" s;i.(yM

Baltoli 1,500.000 8,3l3,7u0 83.600 2U3,f0O 1,073,200 6((4.i00

Trader!' «00,01J0 I,263,HlX) 3!.700 61.400 8S6.9J0 16.">,100

Tremoot . ... 2,f0n,(X)0 3.2S7.3oo 19.500 43, 00 717.000 5!4.3'J0

Waahlniitoo 750.000 1,748.«00 8,OlO TU.SOO 525.000 387,100

ririt I.COO.OOO 3,812,100 35,iCO 216,-'00 769,.':0O 490.100

Second 1,600.000 1.191.3oO 127.500 531,600 l,7l3,*,0 46-MUOThird iOO.OOO !.224.!|iO 69,300 73,(00 909,4ofl 15,000

Fourth 200,000 277.S00 . .. V^.iOO 113.100 r.Oa'Bant of romineroe a.W.ieO 4.958,l(« 2.9J0 597,V00 2,103.600 407.MWBanioJN.AmerKM.... 1.000,1(00 2,iel.'l(Xl 5,700 213.6«K) ESS.lcO 531.100

Banl; of liedeniptlon... 1.000,000 S.^W.'.Oa 184.100 419.300 JOl.Joo 40,<.<0C

Bankof 'he Ki'publlc. . 1.500,000 3,ia3,(«0 10.(00 143.000 902,<'OU 9.37.11(0

Commonwealth 500.000 3.((ll.500 13.000 431.000 1,337, juo (5.(.IU0

City 1.00((,U00 1,817,200 23,700 fl,<M .569.1(10 J56.100

Eagle 1,01)0,00) >,a72,7l,0 If, 100 1I)S,300 £71,6:0 2 S,10O

ExphiDKe 1,000000 0,28-,7JO 2)5.500 ISl.'OD l.Sll.fOll 7-)0.OV

Hide and Leather 1.500.800 3.(if8,liO 13.600 '205,'.00 919,;oO SST.tOC

Revere 2,000,000 4,257,(00 28,100 231, 'OO 1,784.900 525,(00

Becnrlty 200.000 92S,S0O 8.611(1 »»,f00 781,f00 ISli.OW)

Dnlon.. 1,r00OI'O 2,519,100 42.300 77.100 870,SOO 55((.500

Webater 1.500,000 2,3!.7,eO0 18,500 27,SOO 472,200 SS3,':00

Total .51,350.000 129.;0S.100 I,752,5aC 3,010,100 50,132.380 21,811,000

The total amount "dueto other banks." (18 per s(aiementof Oct. 2. Is 925.i9S.«00.

The deviations from last week's returns are as follows:Loans i*ecrease. $36^S0O

jDeposits Decrease. $116,801

Specie Decreaee, 15^.500 Circuatlon .Increase. 255.400

L. Tender Notes Increase. 589.200 I

Tne following are the totals for a Beries of weeks past

:

Date. l..oana. Specie. LeKalTenders. Deposits. Circulation.Sept. 13 129.614.100 2.(1(6.00 7.I82.(!00 5",S»i,100 21,931. IHO

8ept.'25 130,0. ?.10( 1.80.000 7,4T1,200 60,i79.1IXI 21.o63,«(XI

Oct 2 1:9,71'9.100 1.752.300 8,060,100 50,(S2,3fO 21,521,000

Philadelphia Banks—The following is the average con-

dition of the Philadelphia National Banks for the week precedingMonday, Oct. 2. 187G:

Total net Circu-Banks. Capita). Loans. Snecle. !>. Tender. Deposits, latlnn.

Philadelphia.. H.SOOOOO »5.61f,000 »9r.00O »1,S95.000 »4,''li,\000 »72O.00O^orth AiKorlci... 1,000.000 4,3rt,000 75.000 1.157,000 4,085,000 79(i,000

Fnrmeri,' and Mechanics' ",000 000 6,38.'.J(X) 148,100 l,5:4,tJOO 3,731.700 1,000,000Commercial 8IO00O 2,.'.35,00O SU.OOJ 8:3,000 l,'i?6,0OO 62,000Mechanics' iOO.OOO '.,727,(00 !,OtO 324,601 1..07,VOO 170.650Bank of N. Liberties !00,001 2,7.«,00(/ .... 631.000 2,l2.'i,000 411,000Southwark /"uOOC 1,375,3)1 4,(H8 611,447 1,133,291 r.0,973Kensington 210,000 923,331 9,100 •24',2(0 63 V65 22iJ,72il

Penn 600.000 1.3)9,(ir> 3,;00 215,725 1.028.566 2c'2,10O

Western 'OO.OlXI 1.9£0.(4t 29,041) 59f,6'3 2,110,739 21'i.7,W

Manufauturers- l,0O',O0O 2,7t6,M(0 .... 423.000 1.91?,(0) 535,000Bank of Commerce 50,0i0 ;?.1.158 7,150 a7U.5\7 725, 2'0 168,253Glrard 1,000000 4,0i((.000 10,000 1,';55.000 3,832.000 537,000Tradesmen'! iOO.aX) 1,612,(00 25,00.) .5:-4.Ci'0 1.45l,'((0 i:3,(;00

ConsoUuatlon 100.(00 1,160,715 2:,000 818,209 88-,8 9 '270000City (OOOOO l,':ll,((58 1S.8S0 457.112 1,201,;09 313.020CommonMcallh 200,000 760,000 1,000 112.000 521.(00 213,IK10

CornKxchaUKC 500,000 1,912.000 12.16! SW.OOO 2,301,000 271,050nnlon tOOOOO 1.511.000 18,000 353,000 l.;36,O0O 90,000First 1,000.000 4,407.000 f.OOl 1,473,000 4,321.000 ISi.OOOThird 300,000 9n.00u 5,000 432,000 »o6.000 261,000SIxlh 1JO,(00 5:3,000 .... H7,000 511.000 135,000Seventh 250,000 682,000 l.COO 17).000 3 5 000 219.590Klghlh 2:5.000 1,113.000 .... 232.0OO 908.000 23,',»0)Central.... 7(0.000 4.126.000 45.000 l.U-'.OOO 3,S82.aO 5 0.000Bank of UepubllC 600,000 1,915,000 l.aW 7((2.I00 1,30;.0(0 6S0.000Security 'iSO.OOO 635,000 1,0(X) 259,000 ^72.O0O n'i,00()

Centennial' StO.OOO 964,000 .... 396,Oa' 1,2:7,000 45,000

Total 16.49i,000 6I,(10,S;8 570,510 17,677,103 53,9S!,U9 10,111,750* No statement : s«me a last week.The deviations from the returns of previous week are as follows:

Loans In'!. |i9l,915 1 DenosUs Inc. tl,423,o:iSpecie Dec. 29,370 Circulation Inc. 19,329Leftal-Tende' Notes Inc. 3SI.08S I

The following are the totals for a series of weeks past:Date. Loans. Specie. Le^alTendets. Oenoslls, Otrcnlafn

Sept. IS 6:.o9i.859 853,271 16.410,657 52.383,413 10,098.1:0Sept.23 (0,913.931 6 0.180 1«,'113,015 52,j 3,ll;i5 10,09>,42lOct. 2 61,410,546 S70,8:0 17,«77,;03 53,938,149 10 114,710

ItllOTlTIUNS IN BIISTim , PlllLAUBLPIIIA AND OTHER CITIES.

8B0UBITIII8. Bid. Ask. SIOURITIKS. Bid. Ask

BOSTON. STOCKS.Malneta

uox lii;'

Boston * Albany stockBoston * Lowell stockBoston* Maine

133 :3.1k

Vermont Is.UaiiachusettiSs.Gold \HV Boston * Providence :ri ;as'Boston 8s, Currency ;i3V( 111 BurllnKton* Mo.lnNebrasks

do ss.icoldChicago Sewerage Js

112;,; Cheshire preferred 3-.

Chicago, bur. & Qulncy iis^k I14S_ do Municipal 78 Cln.,S(indu8ky * Cley. stock.Portland 6s . . ...

«9H8IV

Concord.89 Connecticut River

39"

....

do land Kt. 78.... Connecticut * Passumpslc, pf.do 2d 7s 52X 5'2H

lOIKKaaternoMass.) „ 8>1 6%

do land Inc. 128.. eastern (New Hampshire) ....Boston * Alliany78 ruehburg „ 109 noBoston* Maine 7s IIIH Manchester & LawrenceBurlington & Mo. Neb. 8s. 1894 1II2V Nashua* Lowell.

do do Neb. 88, 1883. 91 New York & New England ...Eastern Mass.. 78 Northern ot New Hampshire.. 6S 69 v<

Iad.Cln.4Laf.7s, :S69 Norwich* Worcester 1-25

do equipment 10s. .... Ogdens.AL. Champlaln i;h 19do funded debt 7t n

OardensburK « Lake Oh. 8sOld Col.* Newport Bd8, 7, '77.

OldColony .1)0), 107fort., Saco * Portsmonth

Rutland, new 78 Hntland commonVerm'tCeD„lstM.,cons.,7,'8« .... do preferred 7X

du 21. Mort.,7, 1891 7ermont * Canada 22H vsvannoat 4 Can., new, esVermont * Mass., 1st Vr. «.'(19.

(HO !.'> VOS 1 . Worcest.-r* Nashua 69

'

BOSTON, Pf<lI.,10RLPHI\. Rto.

•lOVBITIU,

PHII.ADBI.PHIA.•TAT> AHD OITT BOVSt.

FeDDsylvanlaSs, gold, Int, vardo do ciir. var.

.

do 11, 10-13 1877-82do do U-li. '<<2-92

Phlladelphlk 6s, old, regisi'd.do 6s, new do

Allegheny County Ss, coopon.Pltisburg4s, 1918

do 5b, 1918do 68. uold, variousdo 78,Watei Ln. variousdo 78.Slreet Imp.. '83-88

New Jersey 6s, Exempts, var.Camden County es, various....Camden City 64 do ....

do 7s, do ...

Delaware 68, do ....

Harrlsburg City «s, do ....

BJkIZ.BOAI> STOCKS.Camden * Atlantic

do do prefCatawlssa

do pre!do New pref

Delaware & Bound BrookBast PennsylvaniaBlmlra* wllllamsport

do pref..

Buntlngdon * Broad Top ..

do do pref.Lehigh ValleyUttleBchnylklUMinchlliNesquehonlng ValleyNorrlstownNorth PennsylvaniaPennsylvaniaPhiladelphia * EriePhiladelphia* HeadingPhiladelphia * TrentOnFhlia., wilmlng. * Baltimore.United N. J. CompaniesWest Chesterconboi. prof

West Jersev :.OAKAL STOOKB.

Delaware DivisionLehigh NavigationMorris.....

do prefBcbuylkin Navigation

do pref..

Bid.

105

13

I.6Klll-X

25B52

5X4SX35

4»!ll

50100

48H48X14X

134X

BAIIiBOAD B0KD8.Allegheny Val. 7 3-IOb. !8»6....

* do is K. Ext..l910do Inc. 78end.'94..

BeWldere Delaware.lst m.6,'77

rto do 2d M. 6B,'86

do do 8d M. ts,'87

Camden A Amhoy.68, '83...

Jo do 68, '89....

4lo do mort.68,'89.

Cam. * Atlan. 1st m, 7b, g, 1908

do 2d do7«,c. 1881

Cam. « Bnrllngton Co. 68, '97.

catawlssa, new 78, 1900

Cayuga Lake 1st ni . g.7s, 1901*

Connectlnff68 1900-1904

Dan..H.&WllkB,lBt in„7e,'6T

Delaware mort. 68, various. .

.

East Penn. Ist mort .78, '88..

.

K1.& W'mapoit.lBt m. 78. '80

do do Ss.perpHarrlsburg Ist mort. «8'83....

H.* B.T.l8tmort.78,'90do 2d mort. 7b, '95...

do Sd m. cons. 78. 'J5'

Ithaca* Athens k.78. '90'....

Junction 1st mort. 68, '82

do 2d do 1900....

Lehigh Valley,68, cou., 1898..

do do do reK.1898..no do do 78. 1910

do do con. m. 68 193Llttle8chuylkll\.lBtM..7.l877.Northern Pnclflc 7 3-lOs. 191(0'.

North Penn. iBt m, 6s,'85

do 2dm. IS, '96

do chattel M. lOs 1677

do gen. M. 78, coup., 1903011Creeklstra.7s,'82Penn* N. ir.C.*P. K 7s,'96-1906.

Pennaylvnnia, 1st M., 8, 1880...

rto gen. m. 69 1910, coupdo gen.m.,68 reg., 191O1

do cons. m. 6s, reg., 1905

Perklomen Ist m.68,'97Phlla. * Brie lstm.6B,'8l

do 2dm. 78. '88

Philadelphia * Keadlng 68, '80

do do 78, '»S

do deb. bonds, '93

do g.m.78,c. 1911

do do reg, 1911

do new conv.7s, 1898

doCcal * I,Co m.,78,'92-'8Phlla.. Wllm. * lialt. S?. iS:4..

PltlB..Cln.4 St. Loul8 78, !£00.

Shamokln V. * Pottsv. 7b,19C:.Ste'ibenvllle A Indiana 7s. '84.

Stony Creek. Ist m., 7s, 1907...

SunburvA Erie let m.78,'77..UoltcdN. J. ens. m. «8, 91..

Warren A V. Istm. is.'MWestchester cons. 7b, '91. ...

Weet Jersey Ist m.68,'96do do 78, ;397,...

Western Penn. RK. 68. 1393....do do 68Pb'96

Wllm. A Ruad.,lBt M.,7, 1900'.

do do 2d Mort,l«02'

OAWAI. BONDSDelaware Division Ss, '79

Lehigh Navigation 68. ':il

do HR.'")?....do deb.Ti....do conv , '82

do oonv., R.'94.do gold, '97

Morris, boat loan, roH., 18;3..PennsylvuDiASs, 1910SohuyiklllNav. Ist m.6s,'97..

do 2d m.,6s,!»o:do m. 6s, '05 ....

do 68, Imp.. 'SO...

do 68, bcatAcar,19l8do 78, boat Acar.l9t5do scrip

Susquehanna 98, conp., 1918...

' In default ol interest.

"H

95

102>iIts:o7

113;02

U2.SItSS

lOli"

11-2H

102

107

ItU

Ask

:o<11910;

43X45

50X51

lOl

4j>4

133X

S2X

:02X

50"

162"

93

103*

lilj"

102K

liO

oTOn

baltIMaryland <«, del

do 6<. ez4do •>, I8Mdo 9i, (laa

BBlttmore 6s, 183do »8,I88i,„_,.-....^do (•, 1890, quarterly.

.

do 6s,Park.li>>;i, U —M,do •«,l^»8, M.t S.do <a.ezemnt,'98,M.*Bdo 8s, I9U0, J. SJdo 68, 190-2. do

Norlolk Water.Bsbatlroa'd stocks. Par.

Bait. AOhlo-St'Ck 190do Wash. Bnincb.. 1(4)

do Parkcrsburg Br. 80

Northern Central SOWestern klaryland 90Central I'hlo 50Pittsburgh A Connellavllle. 80

BAIL8OAU KO.ND^.Bait.A Ohio 6a,in80, J. A J...

do 6s. <88S. A. A O...N.W.Va..3d M.Oguarj'JS. J.AJ.Plttsb.ACcnLen8v.'lBj'98, doNorthern Central 8s. 1885, do

do (8,I900.A.&0.do (s.gold.igoo, J *J.

Cen. OhIoS', l»l M..'.890,M.A8.W. Md. 6b, Ist M..(gr)'90,J.« J

do IstM:, r->90. J. A J.do 21 U.. (gu«r.) J.AJ.do 2d M.. (pref.)do 2dM.<gr.by W.i o.)J.AJdo 68. Sd M .(guar.) J.A J.

Mar. * Cm. 7s. F. a A., t8»2. .

.

do 2d,M.* Ndo Bs, 3d, J.AJ

Union PR., 18t Kuar.. J A J.do Canton endorsed.MISOBLLAHKOVB.

Baltimore Gas, certificates. . .

,

People's Gasdo Certificates..

I(i6

107 103

110 Ut'%S5H Hi

14

way. :07>i

118 107Sm Pj

1091, Ill-'K

1U5S 11)7

106 lOi

101 104

100 ....

iOll 101

95 K IG

102

1112

8,3 70

W/, ICb

IIW lOo

.6 30

8S«112

«9' ;on

1(10 ;tO

S9 91

S9 V31(0 103

98 *.'k

C9\-

60 '.0

63 ,o

— ..

91

72

washinotoxi.DUMct of Columbia.

Perm. Imp., 8s, g, .1 .a J, 1891.do 78, 169'.

Market Stock bonds. 78. 1!^92.

WaterStock bonds 78,1901...78,1903...

WanllnQlon,Ton year Bonds. ds, 1878. . .

.

ffond.Loan (Cong ) 6 g, 1892..

Fund. Loan (Leg). Cs.g, 1902..Cei I).of Stock f!:((26) 68, at pleu

" (I843)6e,atplea»Ches. A 0. 8t'k ('47) 68, at pleas

Qeorgtlown.(}ener«l ttock.Ss, 1881

do 68, at pleasure.Pounty stock. 68, doMarket stuck, 6e. doBoard of Public Works—Cers. Gen. Imp.88, 1871

(•o 1875do 1876do ISTI ....

do 1878do Series

Certiaca'es, Sewer, 8s, 1871-77.

Water CertlflcBtee.S*, 1377...

CINCINNATI.Cincinnati 61

do 78do 7-908do South'n RR. 7.30s

Ham.Co.,Ohlo6p.c.<ongbd8.do do 7 p.c.ltoSyrs.do do Ig bds,7 A i.30(

Cln. & Cov.Bridge siock, prcldo bonds, long.

Cln., Ham. A D.. Ist M., ., 80...

do do lid M.,7, SS...

do do adM.,B,77...Cln.. Ham.A Ind.is gnarCln. A Indiana, Ist M.,7

do do 2d M.,7, 1677..Coluni.,A XcnlB. 1st M.,7, '90.

Dayton * Mich., 1st M.,7 81.do do 2d M.,7, '84..

do do 9d M.,7, '38..

do To'do dep.bd8,7,'81-'94.Dayton A West.. 1st M., ISSl.

.

Jo do 1st M., I90IS..

do do iBt M.,6, 1905.

ln<l.,Cln.ALaf.,l8tM.,7do (I. AC>IstM.,7,1838

Little Miami, 6,1883Cln, Ham. A Dayton stock. . .

.

Columbus A XonlastockDayton A Michigan stock....

do 8 p. c.st'kguarLittle Miami stock

LOtriSVILIiE.Louisville 78Louisville 6s. '83 to'37

do 6s,'»7to'98do Watel 6s,'87to'89..do Water Stock «8, '97,

do Wharf6sdo special tax 68 of '89.

leir.. Mad.* T,lstM.(IAM)7, '81

do do 5d M.,7.do do Ist M.,'i,190«....

Loulsv. C. * Lex., Ist M..7, "97..

'.onla.*Fr'k.,lBtM.,6,'70-'7«..do Lonl8v.Loan,6.'81

L. A Nash. 1st M. (m.s.) 'I, TI.

,

do Lou. I,onn tm.8.)8. *8#-'87

do do (Leb.Br.)6.'8«do lBtM.(Leb.br.eI)7.'80-'8^do Lou.L'n(Leb.br.ex)6,'98do Consol. Ist M.,7, 1898...

Jefferson. , Mad. A IndLoal8r.,Cln.A Lex.,pref. ...

do do commonLouisville A Nashville

MT. LOUIS.St Louis 68. Long Bonds '

io Waterespoid •

do do do (new).'do Bridge Approach g.68'do It/ newal gold 88 •

do Sewer g. 6s (dnc'91-2-3)'St LoulsCo.new Park g.65..'

do c'y, 7s •

At A Pacific guar, land grantiido 2J M.

• And Interest.

ICtxlilBlf1I»H 110IM112

109JI

OX104

151

:20

<

25K

S59

103

104lU)103J,:oi)»

ICCHlO'.x

101),109

«l

109

11/3

U2109109

9aH64

£6'

104

28

IMK119110lu*V109

IMHl«07r^tnIt

IC4

I04H

IMJi.0llrj

lo::

lOIHiw108108

nolOS108109

>3X89

106"

10824

•97

'ic;•nolOS.S•93

•K«•105

iOS•18

:o4

10:

•lUlIS8969100

inctoo100i((d

100

ts10110-4

75SO90

100

M93U93939840101

too110lis

93ll«10811097U«10-2

so"9370103

105

IIU93

9083709C974C9843lot96

irj

9696S«!«

«S

io'

93

•MX98•97

(6M'J3H

103*

9797•797

97»7

ii"97•0

•99791

97X97

94K98 )<

90

52

23

103

l'-«

103S\m105

105

105K*201;

(SaxIM

Page 12: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

348 THE CHRONICL] [October 7, i876.

rt^"' GENERAL QUOTATIONS OF STOCKS' S. Bonds and active liaUroad Stocks are quoted on a previous page.

AND BONDS IN NEW YORK.Prices represent the per cent va'.ue, whatever the par may be

BS0UBITIE8.

State Bonds.Alabama :^6, IHS^

do 5s,lS(-6

8«,'.?86dodododododo

88, M.&E.RR..88, Ala. JsCh.K.Ssof 18SS88 of 1898

Arkansas 68, funded. ..

do 78, L.B. & Ft. 9. 188

do 7s, Memphis & L.R.do 78, L. U.P. B. 4N.0do 7s, Miss. O. & R. Bdo 78. Ark. Cent. KR..

Connecticut 68Georgia fa

do 78, new bonds...do "8, endorsed. ..

do 78, gold bonds...Illmuls 68, coupon, 1877. .

.

do do 1S79...

do WarloanKentuckyOeLouisiana 68

dododododododododo

68,6b,

68.

6b, new68, floating debt78, Penitentiary68, levee88, do .. ..

us, do 187.'!

88, of 19107s, consolidated78, small

Michigan 68, 187S-79do 6«, 1883do 78, 18J0

Missouri 68. due 1876.. ..

do do 1877do do 1873.. .

Long bonds, due *y2-*30.

Funding, Jue 18M-5. .

Asylum or Un.,due 1892.

Han. & St. Jos., due 1896.

do do iSn.New York State-Bounty Loan, rep

do coup6e, Canal Loan, 1877 .. ..

68, do ;87868,golcl,rcg 18i7

68, do coup.. '887. ...

do loau...l8S3do do . !Sill

do do . ;692

do do 1833North Carolina—6s,0ld. J.& Jdo A.& ON. C. RR J.& J....

do .. ..A.&O...do coup, off, J. & J.,do, do off, A.& O.

Funding act, 866do ia«8

New bonds, J. & .J

do A. &0Special tax, Class 1

do Class i

do ClassSOhio 68,1881do 68, 886Rhode Island 68South Carolina

6bJan. & JulyApril (fcOctFunding act, 1866

LandC, 1S.-9, J.& JLand C. 1889, A. & 0....780f 1688Non-fundable bonds ..

Tennessee 68, olddo 68, newdo 6b, new Berles.

Virginia—6s,old6s, new bonds, \^KSs, do 186;

6b, consol. bonds68, ex matured coup. ..

68, consol., 2d series68, deJerrod bonds.. .,

DJetrlct of Columbia S.658.

do small..do registered

Railroad Stocks.<Active pre- Vust!/ Qitol'd )

Albany & Susquehanna...Central PacillcChicago & Alton

do prefChic. Bur. & Qulncj.. ..

Cleve. Col. Clu. &r. .. ..

Cleve. & Pittsburg, guar..Dubuque & Sioux Olty.Erie pref ..

Indianap. Cin. & LafJoliet& ChicagoLong IslHud :

Morris & Kesex ;

Missouri Kansas & Texas.New Jersey SouthernN. Y. New Haven & Hart.Ohlo& MlBslss'ppl, prefPitts. Ft. W.&Ch., guar.,

do do special.Rensselaer & SaratogaRome & Watertown81. LoulB Alton & T. H ...do do pref.

Terre Haute & Ind'polis .

Toledo Peoria &. Warsaw.Toledo Wab. & W., pref.Warren

iniscel'onB Stocks.Am. District Telcgrajth.Canton Co^ BaltimoreCent. N.J. Land & Im. Co.Delaware & Hudson Can'lAmerican CoalConsolidat'n C oal of Md.

.

Mariposa L. & M . Codo do pref.

Ctmiberland Coal & Iron.Maryland CoalPennsylvania Coal .......Spring Mountain CoalRailroad Bonds.(Slork Hxclxinue Priced )

^bany &, busq., I8t bondsdo ;d dodo 3d nodo ist Cong. gaar.

Bid. Ask.

31^

10410010410tJ<102

1034141414i41

ilii

58

10H<105>4llOHlOlHi10\%;0210810810810.S

108

I02?610%j

111

iiii

no

H710(^4

36«86

ibo

lf8B8H

108H

1817,S

44M435s

83

viW

20i

:::

6«>E

110)fl

:;:

SFCCRITIE8.

Boston Hartf. & Erie. Isi raurido do guar ...

Bur. C. Rapids db Minn., iBt7s,gCbcsapeake &, Ohio 68, Isk m.

do ex coupChicago & Alton sinking fund.

do istmortdo income... .

Jollet & Chicago, :st mo'-t..

.

Louisinna & Mo., 1st m., guarSt.Louls .lack.& Chiclet m.

Chic. Bur. & o. 8 p. c, l«t m.do ao consol. m. 7f

Chicago. Rk. Island & Pacificdo S. P. Inc. 6s, 'i5

Central of N. J., 1st m., new. .

.

do do IstcouBol..do do con.conv..Lehigh & Wilkes B. con.guarAm. Dock & Improve, bonds

Ch. Mil. 4 St. P. St m. 8«, P.D,do do iA m. 7 3-10, dodo do 7s. gold, i:. D..do do 1 St 7s i; do .

do do iBt m.. La CD,do do Istni., I.&M.Ddo do iBtm., 1. & D .

do do 1st m., H. & D.do do IBtin., C. &M..do do Ist m., coneol..do do '.id m. do ..

Chic. & N. Western sink, fund

Bid. Ask.

24

SEOUIUTfBS.

118103Ji

lfl2

IW

loa

107^48883

'81

101

«

\0iint. bonds.] 104Jsconsol. bds 104

05100l»4J6

do dodo dodo do ext'n bdsdo do Istniort...do do cp.g;d.bd8.do do reg. doIowa Midland, !Bt inort. 8a...Galena & Chicago Extended.Peninsula :st niort., conv...Chic. & Milwaukee. Jst mortWinona & St. Peters, Jst m...

do 2d mort.C. C. C. & Ind's l6t m. 7s, S. F..

do consol. m. bondsDel. Lack. & Western, '.id m...

do do 7b, conv.Morris & Essex, 1 St. m

dododododo

Erie, 1st raort.,do dodo 2d mort.,do 8d dodo 4th dodo 5th dododo

10610^

2d mort.bonds, 1900....

construction.7s, of ;871 ...

Ist con. guar.extendedendorsed7s, I8-.9

78, 18837s, IS'O78,1888

'8, cons., mort.. gold bdsLong Dock bonds

Buff. N. Y. & E, IBt. m., 1877.

.

do do large bds. .

Han. & St. Jo., land grants .

do 88, conv. mort.Illinois Central—Dubuque & Sioux City,! St m

.

do do 2d div.Cedar F. & Minn., Ist mort.

.

Indianap. Bl. & W., Ist mort.,

.

do do 2d mort.Lake Shore-Mich. So. 7 p. c. 2d mortMich S. & K Ind., S.F., 7 p.c.Cleve. & Tol. Kinking fund

do new bondsCleve. P'ville & Ash., old bds

do do new hds.iI04Buffalo & Erie, new bonds.. , \WHiBuffalo & State Line :b....-.,H'3>sKalamazoo & W. Pigeon, Istl—Lake Shore Div. bonds ... 1

102do Cons. coup.. 1st.do Cons, reg., Ist.

do Cons, coup., 2(1..

do Cons, reg., 2d..-,Marietta & Cin. Ist mort. . ..

Mich. Cent., conaol. 7fe, i90i ..

do Ist m. 88, 882, 6. f.

do equipment bonds.New Jersey Southern i st m. 76

do do consol. 78N. Y. Central 6s, 1883

do 68, lb87...,

do 6s, real estate-do 6s, subscription,do & Hudson, let m., coupdo do iBtm., reg..

Hudson R. 7s, 2d ni., s.f., i883

Harlem, 1st mort. 78, coup...do do 78, reg ..

;North Missouri, Ist mort ....Ohio & Miss., consol. sink. fd.

do consolidated...,uo 2rt dodo let spring, div.

Pacific Railroads-Central Pacific gold bonds .

,

do San Joaquin brancbl—do Cal. & Oregon let . —do State Aid bonds. .......do Land Grant bonds..!—

Western Pacific bonds. ...I101>^,

Union Pacific, 1st mort. b'ds'10<%

lOO

«8

ibi

105)b105>B

104

ibsWin104

105

102^

20

104105)s

102H

90

|109?<

102,14;

ii'2

102Wim%658:116a7x103J^

102

S7«

857S

llljo

118107

05100101

w102

105

"iaw

'90>s

l?t«

do Land grants, '.s.

do Sinking rund...Atlantic & Pacific land gr. inSouth Pac. KR. bds. ot Mo

Pacific it. of Mo., Ist mort.dododo

Penn. RR—Pitts. Ft. W. * Chic,

dodo

2d mort.Income,IstCrtron'tB

- -.-. -Stm.

.

do 2dm..do 3d m. .

Cleve. & Pitts., consol., s.f.

,

do 4th mort....Col. Chic. & Ind. C, l8t mort

do • do 2d mortR«me Watert'n & Og., con. 1stSt. L. & Iron Mouutaln, Ist in.

do do 2dm.St. L. Alton & T. H.—Alton & T. H., 1st mort .. .

do 2d mort., pref..do 2dmort. Inc'ine

Belleville & S. Ill.K. 1st m. 8sTol. Peoria & Warsaw, E. D. .

.

do do W. O..do do Bur. Div.do do 2d mort.

.

do do consol. 7sTol. & Wabash, 1st m. extend..

do Istm.St.L. dIv.do 2d mortdo

10091«

U388H

l-7)»

6262

116

24

ibs

103)^

118

119

'eaj.97

1099^

9!g

101?

100>u9\%

9^

equip't bondci. '....

Tol. A Wabash, coil, convert...', Hannibal & Naples, l6t mortGreat Weatern, l«t m., IHS8..

do id mort., ISiJS.

Oulncy & Toledo, Ut rn.. '90..

Illinois & So. Iowa, 1st mortLafayette Bl'n & MI-^-., '.8t niHan. & Cent. Mlssourf, Itttin

Pckin Llnc'lnA Dec't'r,l8tmBoston & N. Y. Air Line, Ist mCln. Lafayette & Chic, Ist mDel. & Hudson Canal, Ibtm.,'9:

do do 1S8J

do ao 1877do do coop. 7s, IS^do do reg. 7,1891hong Island KIE., Ut mort. ..

South 8ide, L. 1., l«t tn. bond^.do sink. fund...

Western Union Tel., 19tW,coupdo do reg...

iniscellaneous List.(Broker'** Qnni-aions.)

CITIES.Albany, N. Y., GsBuffalo Water and ParkChicago 6i, long dates

do 7ft, seweragedo 7s, waterdo 7b, river Improvementdo 78, various

Cleveland 7-*

Detroit Water Works 78. . .

.

Elizabeth City, due '-5

do due '85

Hartford 6sIndlanapollH 7.;W8Long Island City ..

Newark City 7sdo Water78

OswegoPougnkeep^ie Waterliochester City Water bd?., '93.

Toledo i-S^w

Yonkera Water, due I9?3

RAILROADS.Atchf=on & P. Pe!ik, 6sgold..A'l.ntic& Pacillc L.G. ts, gUlAtchison & Nebraska, 3 p. c...Bur. & Mo. Klv.. land m. 7s....

do 3d S., do 84 .

do 4thS.,do8H....do 5thS..do8s....do 6thS.,do83....

Bur. C. R. & M. tM. div.) g. 7b.Cairo & Fulton, ist 78, gold . .

.

California Pac. KU., 78, gold .

.

do 66, '^dm. g.Canada Southern, ist m

do with int. certlfsCentral Pacific, 78, gold, conv.Central of Iowa Ist in. 76, gold.do do 2d in., 78, gold

Keokuk&St. Paul88 ... 1 tj

Carthage & Bur. SsDixon PtorIa& Han, 8s..O. O. & Fox K.Valley 88.Oulncy & Warsaw Ss. . . ;

- -Illinois Grand Trunk ffciiChic. Dub. & Minn. Ss . . i kBPeoria & Hannibal K. 86.. ^^SChicago & Iowa K. Ss ... I 3American Centra] 88 J tjCI1IC.& S'thwe8tern78, guar .

Chesapeake «fe 0. 2d m., gold 78Chicago Clinton & Dub. 88..Chic. & Can. South :8tm. g. 7s.Ch. D. & v., I. div., I6tm. g.78.Chic. Danv. & Vlkcen's 78,gldCol.'SS: Hock V. Ist -s, 30 years,

do ist 78, 10 years,do 2d 78, 20 years.

Connecticut Valley is . ...

Connecticut Western .st78,..Chicago & Mich. Lake ShoreDan. Urb. Bl. & P. : st m. is, g.Des Moines & Ft. Dodge 1st 78,

Det. Hillsdale & In. lUt. 8b .,

Detroit & Bav City Sb, guar. . .

.

Det. Laos. & Lake M. 1st m. dsdo 2d m. Bs.

Dutchess & Columbia 78...Denver Pacific 78, goldDenver & Rio Grande 78. gold.Evansville & Crawfordsv., 78.

.

ErieA Pittsburgh lPt78do 2d 78do Is, equip...

Evansville Hen. & Nashv. ;s...Evansville, T. H. Cc Chic. 78. g,FlintPere M. Is, Land grant...Fort W., Jackson He Sag. 6a . .

.

Grand K. & Ind. :st ^e, gu.r..do ist L. G. '6...

do Itt ex L. G. ^BGrand Kiver Valley 8s, , st m .

.

Hou^. & Texas C. 1st 78, gold.

.

do consol. bds .

Indianap. & VIncen. Ist 7s, gr..Iowa Falls & Sioux C. Ut 78. .

.

Indianapolis & St. Louis Is ...Houston & Gt. Xoith. Ut U.g.International (.Te.vas) IstgInt. H. & G. N. conv. 8s .. ....

Jackson Lans. & Sag. 8s of 85.Kansas Pac. U extension, gold

do 78, land grant, glddo 78, do new, glddo 68, gld, June* Decdo 6fl, do Feb. & Augdo 7s, ;8i6, land grantdo 78, Leaven, br'nchdo Incomes, No. 1...

do do No. 16,,do Stock

Kalamazoo & South H. 8s, gr.Kal. Alleghan, & G. R. Ss. gr.Kansas City & Cameron it's .

Kau. C. St. Jo. and C.B. 8s of '85

do do 8 'Of '93

Keokuk & Des Moines m 78.

do funded int. 86do pref. stock..

L. Ont. Shore RR. Ut m. g. 78Lake Sup. & Miss, '.st Is, goldLeav. Atch. & N. W. 78, guar.,Leav. Law. & Gal. Ut m., IOb.,Logans. Craw. & S. W. 8s, gld.Michigan Air Line 88Mootlcello & P. Jervis 78, gld.Montclttir Ut Ts, gold..Mo. Kan. & Tex. U, gld,Aug.'76

do do Julv,'^do do July.*74

Mo. R. Ft. S. A Gulf iBt m. lOe.'

106103103>s9594

101

357578

10687580489787800757072>s

6555

83B2)i30

2060

BSOaRITIES.

107)^

103)s

107113

ib'a

;o6106

109!.^

106J,i

100110

ibs106

103

32k22k

27^^

107

1027304520100100flO

8250

44

30

'35

'is(-7

60

go80800582W72

59««2k

Mo B. Ft.S. &Oulf Jdin. 10b.N. Haven Mlddlofn & W. 78. .

N. J. Midland Ist 7s, golddo 2d 7s

New Jersey & N. Y. Ts, gold..

,

N. y. & Osw. Mid. '.st -,e, gold,do 2d 7s, conv.

North. Pac. Ist m. gld. 7 S-IO ..

Omaha & Southwestern UR. 3tOswego & Home 7b, guarPeoria Pekin & ,J. Ist mort,...Peoria & Uock I. 78, goldPort Huron & L. M. ts, g. end.Pullman Palace Car Co. stock.

I do bds., 8b, -Jth seriesKockf. K. I. & St. L. Ist 78, gldtiondout it Oswego Ts, gold..Sioux City& Pacillc 6sSouthern Minn, construe. 88..

.

do 7sSt. Jo. & C. Bl. 1st mort. lOs. .

.

do do 8 p.cSandusky Mans. & Newark "s,

St.Louls Vaudalla& T. H. Ist,

do Vd, guarSt. L. & So'eastern Ist 7s, gold.St. L. & I. Mt. (Ark. Br.) .8, g.Southern Central of N. Y. 78..Union & Logansport ;s

Union Pacitlc, So. branch, 68,gWalklU Valley Ist is, gold....West Wisconsin 7s, gold.,Wisconsin Valley 88Mercant. Trust real est. mort.7s

Sontbern Securities.(BrokerM^ Qnrjt'UlOi,6.)

STATES.Alabama new consolsSouth Carolina new consol. 6s.

Texas •>8, i8»a M,&S..tdo la, gold, 1901-19 tdo 78, gold, 1892 J.&J..tdo 1U8, IS81 J.&J..tdo 108, pension, 1894 J.&J..t

CITIES.Atlanta.Ga., 78.

do 8b.\ngU8ta, Ga., 78, bondsCharleston ttocK 68Charleston. S. C, 78, F. L. bds.Columbia, S. C, 68Columbus, Ga., 78, bondsLynchburg63.Macon ' s, oondsMemphis old bonds, 6s r

do new bonds, 6sdo end., M. & C. KK ...

Mobile58 (coups, on)do 8a (coups*, on;

Montgomery trs

Nashville 6s, olddo 6s, new ,

New Orleans prem.Ssdo consol. 68do bonds, Tsdo gld. 7s, quarterlydo 1U8do to railroads, 6b...

Norfolk 68Petersburg 68Richmond fsSavannah 7s, old

do 7b, newWilmington, N. C, 68, gold.. .

.

do 88, gold....RAILROAD^.

Ala. & Chatt. lstm.88, endAla.& Tenn. RIv. 1st mort 78..

do :id mort. 78 ...Atlantic & Gulf, consol

do end. Savan'h.do stockdo do guar...

Carolina Central Ist m.6s, g. ..

Central Georgia consol. m. Ts.do stock

Charlotte Col. & A. Ist M.7a..do do stock

Charleston & Savannah 6s. endSavannah & Char. Ist M. 78...Cheraw & Darlington 78East Tenn & Georgia 68East Tenn & V», *is end. TennE. Tenn. Va. & Ga. Isi m. 78...do do Btock

Georgia RK. 7sdo stock

Greenville & Col. 7s, guar ...

do Ts. certif...Macon & Brunswick end. 78..Macon & Augusta bo.ids

do endorseddo stock

Memphis * Charleston Ist 78..do 2d 78...do stock..

Memphis & Little Rock 1st m.MISsLBlppI Central Ist m .8 ..

do 2d m.os. ..

Mississippi & Tenn. Ist m. Ts..do consol. 88.

Montgomery & West P. Ist 88.Mont. & Eulaula It^t 8s, g., endMobile* Ohio sterling

do do ex certlf.jdo 88, interestdo 2d mort. 88

N. Orleans & Jacks. Ist mdo certlfs 8j.

.VashvUle & Chattanooga 68.Norfolk & Petersburg Ist m. 8s

do 7bdo 2dm. 88

Northeastern, S. C, Ist m. Ss..do 2d in. 6b..

Orange & Alexandria, Ists. 6b. I

do 2ds,68..do Sds,6B...do ,lths,8s..

RIchm'd & Petersb'g Ist m. Ts.iiich. Fre'ksb'g & Poto. 6b

do do conv. TsRich. & Dunv. Ist consol. 68.

.

Southwest RR., Ga., Ist mS. Carolina KR. 1st m. ,8, new

do 6sdo 7sdo stock

West AlahamaSs. guarPAST DDE COUPONS.

Tennessee State couponsSouth Carolina consolVirginia coupons

do consol. coupMemnhls CItv *-'ouT>on8

t Interest added.

15305

11I1491»070561378

40556071

80

Page 13: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

October 7, 187C,] THE CHRONICLK '651

NEW YORK LOG A. I- SECURITIES.

Bank Stock LUt.

COMPAHIXS.

Marked thus ()notNatlonal.

America'Atnertcan ExchangeBowery ,

Broadway ...

Bull's Head*Butchers A Drovers .

.

CentralOliathamChemicalCitizens*CityCommerceCommercial*OoDtlnentalCorn BxchanKe*Currency ....Dry Goods*Bast RiverBleventh Ward*FifthFifth Avenue'FirstFourthFultonOallatlnGerman American*.,-Qerman Kxchange*...ae.'maniu*Qrecnwicn*Grand Central"Grocers*HanoverHarlem*Importers' & Traders'IrvingIsland City*Leather .\lanufactrs...Manhattan*Mannl. & Merchants*MarineMarketMechanicsMech. Bkg Asso'tlon.Mechanics A Traders.MercantileIferchantsMerchants* EiMtttropoUs*MetropolitanMurray Hill*Nassau*Newyork(Jew York CountyN Y.Nat.Exchanice..S.Y. Gold Exchange-Ninth "...

North America*North Blvei*Oriental*Paclflc*ParkPeoples*PhenlTProduce*RepublicSt. NicholasSeventh WardSecondShoe and LeatherSixthState of N.york (newjTenthThirdTradesmen'sUnionWest Side*

Capital.

Par Amount. Periods. 1S74 1S75 Last Paid

S.OOO.IXM'

S.OUO.OlXl

250 1XHI

l.OCO.WCIW.UIIOyio.wio

2,000,00c45O,0(Hi

8U0,0«'SliO.OlO

1,000,00010,000.0(IC

1(0,(W1,S0«,0(X'

l.nooOOO100,0011

1.000,000S90,00(i

210,0001 50,00010(1.1 ou800.0011

5 0CO,(Xi0

600.000

1 500.001

I'OOO.OW.aio.ixH

20l'.,(X*.

3W.00(i

ss.wSCU.KV

1 OOO.fKJC'' 91,300

1 500,uOl

500.00010l.(..0

800.0002.050.001'

300.000400 .0«l

I,00O.00C

2,000.00051.10.000

600,000

1 .000.000

S.O O.OO'i.uoo.ood

500,0004.000.0002JO.0OC

1,000.0003.000.000soo.oooSOO.IlfO

500.000l.SOO.Of*

1,000,0004W.0(.0300.00042J.70f'

2,000.000412.500

1.800.000a.'iO.OOO

2.000.000i.cxm.ooo

300.000300.000

1,000.000

200.000Boo.oeoEWI.WO

I.OOO.OOO

1.000,000

1.500.1X10

200.000

DiTISCMDS.

«-J..J *.).M.4N.A ,*().F.& A.V .AN.M *,N,M *,N.V *N..1 ft.l..1 *,I.M .*.«.1 «r,.)

J 4 J.

.1 ft.l.

K ^. A.1 A.l.1 A.

I

.1 A.I,

.1 *.l.M ANM .AN,M *N.1 *,,!,.1 *,1.1 A.r.1 *. ,1

A *().M AN.1 A.I.1 A.I..1 A.I.1 A.I.1 A.!.1. A.I.1. A.I,.1 A.I(,-K.

.1 ft.l

.1, A.IJ AJ.

J.&.I.J.A.I.J. A J.M.AN..1. A J.

Jnlyl,n«...l

Infy I, •^«. .t,

July 1, •7«. 8Sept. I, '75..

5

Juir l.'76...S.Inly 1, -IS...

4

'uly l.*7«...5Sept. 1, '76.15

Jmy I. "6.. .4

Aug. 1.';6...5

JilylO, 76 3>s

.Ian! 6.''7il'.!!s

Ang.l.~6...5.iulyl,'74...4JuIylO.*T«. 1

luly 1,'76.3!<.July 1, '6 ..&

Julyl.'76.2>4

J'aiylVYs.V .

Julyl.Te.SMMay l,'7«.,-5Apl. I, •;6..4

Feb.], '74.. .S

May5, -je.eM»v3. '76...

7

May;, '76.

inly"r,'*7'6'.".'.4

.Ian. 3, '76.. .8

Mel.. 1. '75..

4

July 1. '76...

7

July 1, '76...

5

'uTy'lV''76.!'.6

Aug.lO.~«..Jlulyl.'75..SHJan. 3, '76...

5

;uly 1,'7«...4Inlyl,'7«...5May !.-;6...SMay 1,*T6..5May 1, '76. .4

July I. '76..

4

,Iulyl,'76...4Jan 3, '78.3HJuly 3, "78...

6

Oct. 1,*;5. .4

MaylO.-;6 3i<Julyl.*76...6July 1,'7«...JJan. 3, *76.3SMay, '73.. .5

July 1. -76.. 3.July l,'76 3>iJulyl,'74.3>4Julyl,'78...6Aug., "76. ..3July I, '76...

5

luly '.,'76...

5

July 1,'76.3HJuly.lS*74.3XFeb. i, '75.1Aug.U •78..4

July 1,'76...3

July 1. '76...

5

Jtllyl,'76...5July 1, 76...

4

lUOli

Jan.2'71.2XgJulyl.'76-. 4

July l.'7fi...5

.- May 1,'78..5 .

I 8 l.lmyl.*7'i..4l

I09X

Gas and City B.R. Stocks and Bonds.[Quotations by Charles Otis, Broker, 47 Exchange Place.}

Gas Companikb,

Brooklyn Gas Light CoCitizens* Gas Co (Bkl>n

do oertilicates'

HarlemJersey City A HobokenManhattanMetropolitan

do certidcatesdo b n.^s

M'itual,S. TNassau. Brooklyn

do scripNew YorkPeople's (Brooklyn)

do do bonds.Central of New York

CertificatesBonds

Williamsburgdo ^Bcrlp

Amount. Periods

2,000.0001.200,000 83.T:320.000 A.AO.

1.3."i0.000 F.AA.386.000 J. A J.

4,000,000 J.AJ.!.l 00.000 M.AS.1.000.000 M. AS500.000 J.AJ.

5 000.000IJXW.OOO7iiO.0CO M.AN.

4,000.000 M.AN.I.OOO.OIX) J. A J.6«.000 K.AA.4«6.000 F.A A.53.C0O-'1.1 00 J.AJ.

1.000.000 J.AJ.1 000.000 J.AJ.

2KSX4

5

59

'7"

7S

3K

3"

7

Lastdlvldencl

June. "76Jan., *:6

Anr., '76.

Aup., ';8.

July. '78.

May. '76.

Aug., '78.

Cct.. *76

Jan.,*76

Jan., '7»l.

Jan., 76

Aug.I,'76.

Jtiiy,''76'

Bleecker fit.ds I''uUonJ<'e7Tt/—»loc)i.1st mortgage— ,

Broadway tc Sevtnth Ave—stock.let mortgage

Brooklyn Oily—stock1st mortgage

Bromtway f Brooklyn)—BlockBrooklyn tfc Hunter's Pt—stock...

1st mortgage bnnfisSusMelck Av. (B't7i/n)—stock....[central /**, N, it A'. /Wr(?r—stock1st mortgage. conBolid-tted

ChrUtopher itlejttft Street—etoci:C^net/ iHlarid tfc Jirook'n—iat mortDry Dock, B B.^t Batlery—ttor.H

Ist raortgag**, cons'd£!I17A(A 4n«nue—stock1st morteat^e

42d SI. <t Orand St J'erry—ilock..1st mortciige

Central CroHS loicn- stockIst mortirage

Houston. West st.dtPav.Fen-y-Bik1st mortgage

Second Anenue—stock1st mortgage2d mortgage3d moriKaireCvina . Convert! :»le

Htxl!} Aryen.ie- stock1st mortgage

Third Avenue—stock!rtt morlKage

Jirenty-thira Street—fiUiCitIst " '*"*<"*<"*

9WI,0006*1.000,100,000

,500,000,000,000

300,000200,00040i|,00O

300,000! 00,1 00,810,000

,-«jO.0OO6,'0 000307,000,200,000900.000,000,000203,000748,000236,(»0560.000200,0002"0,r(iO

500,000,!!I9,500

350,000200,000150,000617,000750,00c415,000

;,(KI0,H10

1000,000600,000250.000

J.AJ.J.AJ.J. AD.Q-F.M.AN.Q-J.

J. A.

J. AD.

J'.A j'.

Q-F.,i;adJ.A.I.J.AJ.M.AN.A.AO.

J. A J. 7

.r.AD':27

F.AA.A.AO. 7M.AN. 7.M.AN. 5J.AJ. 7

Q-P'. 1

J.AJ. ;

J A J. 3M.AN. 7

1880

Auir., *76

18?2.hily. '76

Oct ,'76

1888

• 18nAug., '76

July,'76

May, '76

1873

July.1894July. 76

1877187618851888

Msy. '76

1.190

Aug., 'te

ll;90

July,'76

Bid. Askd

105

160

11.1

id9S!I3;o

-.42

100

70

:95"

l6373

1001009010

340100

Insurance Stock List.

(Quotations by K, s, Uailst, broker, 69 Wall street.)

CoxPAXtn.

Adriatic.^tnaAmericanAmerican Exch'e..AniliyArcticAtlanticBowery ..

Brewers' A M*lst*r8Broa'lwayBrooklynCitizens'. -

CityClintonColumbiacommerce Fire....Commercial('ontlnentalKagleEmpire CityEmporiumKxcoangcFarragutFiremen'sKlremen'sFund...Firemen's Trnst..QebhardGerman-AmericanGermanlaGlobeGreenwichGuarantyGuardianHamiltonHanoverIlutrmanHomeHopeHowardImporters'ATra^..Irving.leffersonKings Co. (B'klyn)KnickerbockerLalayette (B'klyn)Lamar.. ;....

Lenox -

LongIsland(Bkly.)LorlllardManur A BuUders*..Manhattan.Mech.&Tvad'rs'....Median ic8'(Bklyn)MercantileMerchants'MetropolitanMontauk (R'klyn).Nassau (B'klyn)...NationalN. Y. Equitable....New York Fire ...

N. Y. A Vonkers..NiagaraNorth P.lverPacldcI'arkPeter Cooper.People'sPhenix (B'klvnl .,

Produce ExchangeReliefRepublicKldgewood ,..ResoluteRutgers'SaleifuardSt.NlcholasStandardStarSterlingStuyvesantTradesmen'sITnltcd StatesW«'Btche«terWHllamsbnre City.

Capital.

ParlAmonnt.

2510090100

100205025100

2517•20

70;ooso10050100

40!0O100

30

17

1010lOo

100

505025110

10015

'50

90100'25

5050

101

30204050100255025100100

25509050SO5050

37><;

35100100.iO

2525100205050lUd

50100100;oo

2510025501001002525251050

200.000200/100400inO200,000200.000JOC'.OOO

200.000900.000200.000200.000158.000300,000210.000290,000800,000200,000200,000

1,000.000300,000200,000'm,uio209,010200.000204.000150.000150.000

200,000l,Oi<l,000

500,000200,000200,000200,000200,000150,000800,000200,000

3,000,000150,000500.000200.000200.000200.010150.000280.000150,000200,000190,000200,000800,000200.000250.000200,000150,000200,000200,000300,000200.000200,000200,000210,000200,000200,000SOO.OOO350,000200,000200,000150,000I.'iO.OOO

1,000,000200,100

200,000800,000200.IJ00

200,000200,000200.000200.000200.000200,000200.000200.000150,000250,000300.000i.50.000

NSTHORPLUS,

Jah. 1

i87«.*

88,60662,180

811,(7888,0Sari,«8|:<,96!i

1SS,0S(>

423,8:2>l<,144

301,993239,1(7ac«.390

tVIMi192,24739,:54a"i,8!0

169,315600.2229J0,059:<l,633.'50,439

13.312146,060ll»,(ioO

33,583114,02921,326

909,705818,1801.58.09)

8'25,;91

55.629114,867392,7599',453

895.723411,590

198,571102,20840,992137,019213,7:271,'.21

1-5,314

117,50986.973

186,675M3,'2t^S

155,024282,425320,899171,39765,503184,-276

25,8651.12,077

275,859118,16i

339,082214,011'

36,536457,298137,034391,655176,22^225,567141,010785,6^921,<0174,8385,941

83,68023,1175

^2.^.958

136.31649,94515;,734125,244

94,153178,0;.i

]

189,173261,511 1

1S0,1S6I

S74,;06

'

UITIOSVDS.

ISn 1873 1874 ins List Psid

ax

14 10

14 14

10 ilO 1!

1014

15

108

1010

30I

'20

30'20

^02010

10

209-81

9014

10

13

'?>!19

10

12

10

10

10

13

55

16"

2010

10

10

10

12

12

IS

10'20

202010

1016

10

1014

3010

102010

202012

202010

1012

.)0

2020

2015

1010

11

10

2012«10

n 6

12s10

202016

10

20

Jnly.*7(..5July74.12«July, '78. .SJuly, *7«..5

July, *;6..4July, '7(.,5July. •7S..5

June. -6. 10Ang..'7(..JAu«..'T6.|0J'.ly.'TS.ic.Inly. "76.. 10Aug., '76.111

.lulv,'78.:0July. '7(...1

Jnly,'7(..5Jnly, '7(.10July,76.53«Apr., 18.15Jnly. '76 .7

luly. "78 .5

Jnly, "Tt. 10

Julv,'76.7HJuly, '76..-,

July. '76. .5

J'lly. *76..6

Ani..*76..5July. '76..

5

July. '76.15July."76..i0Jnly, "JS. 10

ulyi'wi.iJuly,'7b..lOJnlv, *7(. s'lily, '78. .5

July. '78..

5

July. '76. ..1

July,'78...6July. '711. .6Jnry.*;(..5Sept .,"78. .5

July. '76.11.

July, *76..5

July, ^76. 11

July,*7«..5July, '76..

5

July, '78.10

July, *76..sJuy, *76..6July. *76..7

July, '76.10

July, '78.11

July, '76..!

Jut. '7«.l"july.in.sxJuly, '78.1

Jnly, '76.10

July, '76..

«

Inly, '78.10Ang. .'76.10

July. '76..

s

Jnly, *76..5

Apr., '76. .6

July,*76.^«lJuly. "76.10

July. '76. 10July, 78.10July, -71!. 1"

.;uly,*76 3XJuly, '76. 5

July, *76..5

July, *76..7l

July, 76 .9

Aug., 76.10Jnly, •76..

8

Auk, '76. .51

July.7«.^.S.Ju.y.'7e7XAng .'76. ...

July, '78.10

July, '7S. 10

.July, '76. .s

Aug.. '76..

^

Jnly. *18.10

vmnmlU

INv*IS*

IBM

14Saoo

nIMl»IMINWtalUK

IN19*IM:«iIW

170M!M(II

19«

im

lis

IMMHi"

IMII**>K)1I7»M\»"

* Over all liabilities. Including re-insurance, capital and protlt scrip.

City Securities.[Quotations by Daniii, a. Uobax. Broker, 40 Wall Street.]

'lliik coiuu.b buuws last diviueod wu utoctt, auo date of a'Sturlty of bonds.

New York:Water stock 1841-63.

do I1154-57.

Croton waterstock.. 1845-51,

do . do ..135-2-60,

Croton Aqned'ct stock. 1869,

do pipes anil inuiusdo refervolr bonds

Central pai>s bonds. .1S5S-57,

do uo ..1853-65,

Dock bonds 1870,

do 1-75.

Floating debt stock 1860,

Market stock 1865-68,

Boldlcrs'ald fund 1863,

Improvement stock 1869do 10 ....1869,

Consoll.latea bonds var.Street Imp. stock' var.

do do var.New ConsolidatedWestchester County

Jersey Vity;Walerloan 1892-87.

do longdo 1869-71

Sewerage bonds 1866-69.Asseasnient bonds. ..1870-71.Improvemi-nt bondsBergen bonds

/Jroo*Jj/n-[Qnotatlon8 by N.Local Improvement—Cltv bonds

doPark bondsWater loan bondsnrl.lfrehondaWater loanCity ooudsKings Co. bonds ,..

ilo do• All Brooiclvn bonds flat.

iNTSBKBT.

6

7

t

Months Payable.

Feb., May Ang.& Novdo dodo dodo dodo do

May & N'ovembtT.Feb.,.May AtiK-^ Nov.

do dodo do

May & November.

1877-791890

ntd. Ask

Feb.,May, Aug^.& NovMay & Novcn^er.

do dcdo dodo dodo dodo dodo do

January A July.

Jannary ftjniy.do do

Jan,, May, Jnly & Nov.

January aud July.

Bksrb, Jr., Broker, 2>j

January * July,do dodo dodo do

' do doQO 4odo do

Uav A NoTember.40 do

IS83-90 US1884-1911 l.i18S4-1900 1:21907-11 loe

1877-98 9(1877-95 i<»1901 118191B 1061878 101»,

1894-97 1171876 *;oi1889 104

187M0 109

1901 114

1888 102K1879-M* 104H189( lis

1891 lot

IST! 97

1895 »« •

1899-1902 107S1876-7'J 1001176-91 100

1905 ;o7s1S76-1900 102

Wall St.)

1K8-80 1011881-95 1051915-2« lit1908 117

1915 1'5

HOB-IWM !0ilS81-«3 IHX1880-tl3 1(17

1S8U 1(«

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Page 14: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

B52 THE CHRONICLE. iOitoler 7, 187 6.

AND

STATE, CITY AND CORPORATION FINANCES.

'The " Investors' Supplement" is published on tbe last Saturday

«f each month, and furnished to all regular subscribers of the

Chboniclb. No single copies of the Supplement are sold at the

office, as only a sufficient number is printed to supply regular

subscribers.

aENERAI. INVESTMENT NEWS.

Alabama & Chattanooga.—Dipatcbes from Mobile say that

the Alabama & Cbattauoo);a Railroad Company was sold at auc-

tion for 1310,009 to A. P. Balcb, representing the holders of thecertificates insued by the receivers appointed by Judge Bradley,

of the United States Supreme Court.

Atlantic Misc. & Ohio.—Dr. de Klerck writes from Amster-dam, Holland : On instigation of Messrs. Ziegelaar and Luessen,a meeting was held, the 18th inst., of holders of tbe consolidatedbonds of the Atlantic Missicsippi & Ohio Railroad Company.Though about |3,000,000 are in our hands, only $565,000 wererepres«nted by twenty-aix holders. A committee was appointedconsisting of Messrs. Pick, de Merer, Oyena, Van der Waarden,Qoedkoop and Carp. The Board of the Stock Ercbanse added to

these five Mr. Van Vosterwijk Bruijn as chairman. This society

ie incorporated since the Ist of July, 1876, instead of the dis-

solved "committee of the Stock Exchange" and the " Stock Soci-

ety.'' Probably the committee will go hand in hand with that of

London.

American Mining Board.—This board, which completed its

organization a few weeks since, opened on Monday, Oct. 3, for

business. Mr. William Ward, Presiriont, read an inaugural ad-

dress, from which the following extracts are taken as showingthe character and operations of the association up to date :

"During the numerous sittings of our committees they havehad under consideration 650 applications for membership, and of

these 233 were approved and are duly elected and qualified.

There is still a list of names waiting the action of the appropriatecommittee, and every day adds to the number, Tliii fact makesit impossible to compile other than an imperfect list of names at

soon as completed printed copies will be furnished by the secre-

the present time. The list is in preparation, however, and as

taries." The Executive Committee decided at one of their recent meet-

ings that 100 additional members should be admitted at au initiation

<eB of $250, and that the fee for the nex*. lOO names should be^00 each. Of the first hundred names 35 have been elected andiiave duly qualified, and 25 more liave applied. It was also deter-

mined that all nominees lor membership, whose applicationsshould be received prior to October first, should, wheu elected,

become proprietary members, and that all nominations alter that

date should ba for operating memberships merely. In accord-

ance nith the constitution, as amended, measures have beentaken to organize the proprietary members into a corporate body,under the limited liability act of this State, the preliminary cer-

tificate for the purpose having been filed with the Secretary of

State. As soon as the forms of law can be complied with, the"Organization will be completed, tbe interests of the proprietarymembers will be represented by stock, and their liability will belimited to the sum of one hundred dollars each.

" In the matter of placing stocks upon the regular call, morethan 200 applications have been made to us, and more than thieefourths of them have been rejected. Our list at present com-prises less than fifty companies, a large proportion of them beingthose whose shares are actively dealt in at tbe San FranciscoStock Boards, and the remainder representing valuable and pro-

ductive properties. In due lime the better class of petroleumwells, and of copper, coal, iron and lead mines will be embracedin our daily call, including the shares of ice companies, gas com-panies and others, properly coming under the classification of man-ufacturing corporations. Few pursuits in this country, outside of

gold and silver mining, have been more remunerative than themanufacture and supplying of illuminating gas, or the preparing«.nd storing of ice, and the better grades of companies designedto promote these extremely useful industries will probably, indue time, become prominent as well as appropriate features inoar dealings.

" As to the financial status of the Board, after paying all pre-liminary expenses, we have $24,000 on deposit in bank, and thereis some $3,000 due and gradually being paid by recently electedmembers. The receipts from new applications, for some weekspast, hav« averaged more Ihan $500 per day, and are still con-tinued without abatement. The membership dues alreadyamount to some $14,000 per year, and the receipts from newlyelected members and other sources are likely to be $10,000 more,making a total income of $34,000 for the first year of our exist-ence. So far no salary has been paid to any oflScer of this bjdy,but within a reasonable time, these who do the work will doubt-lesa be adequately compensated.

" We owe no debts of any kind, and there is a universal deter-"mination on the part of the officers and committees to create noliabilities beyond the execution of a lease of suitable premisesJtor the business of tbe Board, and the entire amount involved inthat obligation is already on special deposit in the United StatesTrust Company. It is intended to conduct the business with con

sistent economy, and to commence at once to lay the foundationof a fund for the construction of a building suitable to the busi-ness of the Board and appropriate to the great interests Involvedin its permanent success."

The descriptive list of stocks is as toU.jwg, tbe par value of all

shares being $100, with the exception of the Cleveland, which is

$10, and Kossuth, which is $50:

Tot. Am'tDiTidendiDiaburs'd.

$15,397',«66

LocationName of Company. of

Mine.Alplia Con. Gold & Silver. Nevada

Shares.Total Am't

Capital. A'atm'ts

30,000104.000looieoo100,000100,000540,0no2^,000

Belcher Silver doBe«t&Belch3r doBnllion doCaledonia Silver doCalifornia doCholUr-PotoBi doCleveland Gold Colorado 2.V,ii00

Consolidated Imperial Nevada oOV.OOOConsolidated Virginia do 540,(00Oonflden'X! Silver... do 24,!!60

Crown Point Gold & Silver. do 100,01)0

Eureta Consolidated do 60,000Exchequer Gold <fc Silver... do 100,000"^onld & Corry Silver do lO^OOOGrant do 10 000Ha e & Norcross Silver do lli.OOOHul;ill Sliver Colorado 10,000Indian Queen Min.&MlU'g. Nevada 60,000Julia Consolidated do 110,000lusilca do 105,000Kentuck do 80,C0)Kossuth do 108,000Leopard do 50,000M exican Gold & Silver do 100.800Merrimac Silver Mass. 5,000Morning Star Nevada 80,000North'n Belle Mln.&MlUg. do 60,000Ophir Silver do It,0,800

Overman Gold & Silver do 38,400Pleasant View Colorado 20,000Kayraond & Ely Nevada 30,000Sanliago ,

SavageGold & SilverSegregated BelcherSierraNevada SilverSilver Ciiy

,

Silver HiilSouth Comstock G'd & Silv.Souih California Silver. ...

Trenton ,,.Unit n Consol. SilverWest Belcher ...

Yellow JacketYoung America

dododododododododododododo

118,000112,000

6,400103,00063,100108,0C0100,0005O,f:0O

100.000lo^oooloo.ccolao.ooo

30.000

$.3,C01.000

10.4(0.1 001P,08'',0C0

io,( 00,00010,(^0,0005t,Oiio,o;'o

2,800,000250,(00

50,000,00)54,0O0,0CO2,498,eCO;o,ooo,ooo

5,000.00010,101,000ll',80O.U0O

10,000,00011,200,0001,000,0003.000,000

11,000,00010,E0D,000

s.ooo.oco5,400,0005,C00,0()0

10,080,00060,000

8,000,0005,000,000lO.OHO.O^O3,840,(03

200,0003,1100.01

11,200,00011.210,000

640,00010,0J0,0O0

6,310,00010,800,000io,ouo,( 005,800,00010.000,00010.0 0,00010,000,00012,0C0,0O0

3,000,0l!0

Levied.$180,000660,400136.192

l,t02.0001,810,000

1,88J,C005,400,000

3,080,000

m,ooa41I,20J2».3,t4U

1.073.310100,000180,000

2,018,000

23,680,OCO78,000

11,588,0001,000,000

2,130,000

3,826,800

l,6^°,66s

110,0051,504 503270,00040.'i,000

60,000108,000

1,29^^

87',560

2,084,4002,107,0fc0

6io,6co

800,0001,394,400

2.746,0002J4,8"0

1,400,000

3,075,009

4,46K6c6

m.m756,00044,000

2b0,0C0

2,598,6o6 i,184^066

Atlantic & Pacific.—Jud»3 Dillon stated that it was foundthat the terms of the decreeordering the said of the Atlantic &Pacific Railroad were complied with, and therefore the Courtconfirmed the sale as hitherto published.

Boston October Dividend and Interest Payments.—Mr.Joseph G. Martin, Commission Stock Broker, No. 10 State street,

Boston, has compiled his usual monthly list, shovfing, withmuch detail and accuracy, the disbursements in that city forinterest and dividenris due in October. As to banks he remarks ;

The past six months, so far as net profits are concerned, has beenone of tbe hardest periods our banks have experienced for verymany years, but the falling off in dividends at this time is notlarge, because of previous heavy reductions. It is pleasant tonote that four banks—the Central, Commonwealth, First Wardand \\ ebster—which deemed it advisable to pass in April, havenow resumed. Four others^theTremont, Metropolitan, EleventhWard and Broadway—now pass, the latter for the second time.Two new banks i_ommence dividends—the Fourth National (newJuly 19, 1875), 3| per cent, and tbe Merchandise (new November8, 1875), 3 per cent. Tbe other changes are all reductions. TheBoston National, 4 to 3" per cent; Continental, 3 to 2 per cent

;

Eagle, 3 to 3 per cent ;. Eliot, 3 to 2 per cent : Hide and Leather,3 to 2| per cent ; Mechanics', 5 to 4 per cent : Monument, 6 to 5per cent ; People's, 6 to 5 per cent ; 'I'hird National, 4 to 3 percent ; Traders', 2| to 3 percent. The banks pay their dividendsfree of all taxes, and most of them charge off' the amount now,while some divide it, half in October and half in April, whichwould seem equitable, and it is desirable that tbe dividendsshould be alike each six months, and not disturbed by larger taxpayments at one time than another.

•Of the sixty-one banks within the limits of Boston, three pay 6per cent, four 5 per cent, twelve 4 per cent, one 3^ per cent,

twenty-four 3 per cent, one 3 per cent quarterly, four 2j per cent,

seven 3 per cent, four pass, and one not declared.

Totals are as follows

:

Capital. Dividends.Total, Octobir. 1876 $54,300,000 *tl,6o8,000Total, April, 16T6 '. 53,100,010 1,716,000

Total. October, 1875 53,100,COO •2.017,100

Total, April, 1875 , 63,000,000 2,177,500

Total, October, 1874 52.200.000 *2,253,600

Total, April, 1874 51,900,000 2,412,500

* Including tax total would be: In 1876, $2,490,615 ; in 1875, $2,952,941 ; In

1874, $3,28.'i,319.

The State of Massachusetts and City of Boston will pay, as

usual, interest on their bonds in specie. Boston also pays a large

sum in currency. The city has also remitted .£35,000 ($175,000)

interest on sterling bonds due in London October 1. Of principal

$57,000 matures October 1 in currency. The gold payments in

table amount to $307,353.

The American Buttonhole Overseaming and Sewing MachineCompany will pay a quarterly dividend of 4 per cent, October li

in Philadelphia.

The New York Central and Hudson River Railroad will pay aquarterly dividend of 2 per cent, October 15, in New York, andthe Housatonic preferred 3 per cent quarterly, October 10, at

Page 15: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

October 7, 1876.] THE CHRONICLE. 363

Bridgeport, Conn. InlnreHt on a portion of St. Loais 6'b is also

don October 1, payable in New York.Interent on Atchison and Topeka consolidated second mortgage

bonds, due October 1, will be paid half in casli and lialf in ten

year scrip, on whicli Interest will not be paid until maturity ol

principal. The coupons will be stamped as half paid, and are to

be Ixeld by the trustees under the mortgage, until payment of the

scrip.

The bonds of the Locust Dale Coal Company, due October 1

($150,000), and largely held in this vicinity, w'ill be paid by D.

Palmer, treasurer, with the last coupon attached, at tlie office ol

the Philadelphia & Reading Railroad Company, in Philadelphia.

nnffalo & Jamestown.—A suit for th» foreclosure of the

$2,500,000 mortgage of IStiSof the Buffalo & Jamestown RR. ban

been inslitutfd by the Farmers' Loan & Trust Co. of NewYork, trustees for the bondholders. The city* ol Buffalo owns$1,000,080 of the capital stock paid up. and the towns throughwhich tlie road passes about $500 000, and individual stockholders

in Buffklo the remainder. It is represented that on the paymentof the interest the bondholders would withdraw the suit, but the

city cannot contribute the necessary 20 per cent, without an enabling act, which cannot be obtained until the meeting of the legis-

lature. It is expected at Buffalo that a receiver will be appointednext week.

Bnrlington Cedar Rapids & Minnesota.—The bondliolders'

committee has issued a circular to the bondholders in which theygay :

" Bonds to the amount of eight millions have been deposited,

with the Continental Bank, under the plan of reorganization. It

Ip advisable that the bonds outstanding he deposited without de-

lay. It will require several months to engrave the new bondsand certificates of stock, but they will bs distributed as soon as

possible. The policy of '.he committee, from the first, has beento keep the bondholders informed, as far as possible, of all mat-ters hearing upon their interests. In pursuance with this policy,

a statement is submitted herewith, showing the various suits

pending against the company at the time of the sale. The pur-chase ot the property was made, subject to whatever may be thedecisioi: in these suits by the Court. It is proper in this connectlon, however, to state that the expressed opinl^tn of our counselis, in effect, that not one of these suits will ha decided againstthe company. It is to be hoped that this opinion will be verified.

It is now more than a year since the bondho.deras' committeecommenced its labors. With the foreclosure of the mortgage,and the purchase of the property for the bondholders, the work of

the committee is ended."

The suits referred to are on mechanics' liens under the Iowalaw, amounting in all to $183,516, and for recovery of claimsagainst the receiver, amounting to $139,686.

Central of New J.ersey.—At a meeting of the Board of Direct-

ors, held on Thuisdny, the resignations of Mr. Johnston, Presi-

dent, and Adam Norrie, a director, were received, and Mr.Knight, of Philadelphia, who was recently elected a member of

the Board of Directors, was chosen President of the company.P. A. Comly, President of the North Pennsylvania Railroad, waselected a member of the board to fill the vacancy occasioned lythe resignation of Mr. Norrie. A meeting of the Board of Directors

of the Lehigh & Wilkesbarre Coal Company immediately fol-

lowed the adjournment of the meeting of the directors of theNew Jersey Central, at which J. B. McCreary, of Philadelphia,formerly President and principal owner of the Honeybrook CoalCompany, was elected a member of the board. No part of thebonds, under the $5,000,000 mortgage recently authorized, has beensold, and it is the intention of the directors, if possible, not to

Bell any portion ofthem until they can dispose of them at a muchbetter price than now. Mr. Koight, the new President, is at thehead of a large sugar refinery in Philadelphia, is President of

the Gaaranty,;Trust & Safe Deposit Company ot Philadelphia,and is also President of the Bound Brook Railroad Company.

A bill in chancery was filed last week by Obed H. Sanderson,in the New Jersey Court of Cliancery, at Trenton, ChancellorRunyon presiding, for an examination of the affairs of the NewJersey Central Railroad and the appointment of a receiver in

case it is found to be insolvent. Tlie bill, after reciting thevarious acts under which the road was incorporated, sets forth

that the president and directors had for a long time been usingthe funds and assets of the road in a manner contrary to law,and that especially their recent act indorsing and guaranteeingthe payment of $2,000,000 of the floating debt of the Lehigh &Wilkesbarre Coal Company, as well as placing $6,500,000 of NowJersey Central bonds as collateral security for remainder of suchfloating debt, was entirely without warrant of law. The bill fur-

ther avers that the president and directors, in continued disregardof law, purpose to issue the bonds of the company for the pur-pose of meeting the aforesaid obligations. Finally, the NewJersey Central Railroad is declared insolvent, being unable to

meet the various obligations under which it labors. The com-plainant, therefore, prays that the president and directors of theCentral Railroad of New Jersey may be perpetually restrained

by the court from alienating any additional property of the com-pany, and that Samuel Knox and John Kean may be also per-

petually restrained from disposing of the 5,000 bonds mentionedabove, each of the bonds and the mortgages issued as their

security being declared null and void; and, further, that a re-

ceiver may be appointed to take charge of the affairs of the cor-

poration, if it shall be found insolvent.

The Chancellor denied both motions on the ground tl at hedid not consider the facts alleged on either motion sufficient cans

)

for his interference.

Central KK. of Ga.—Charter Rights.—The followinr h •.

statement of the principal points involved In the decision of theUnited States Supreme Court in the case of this company as plua-tiff in error agt. the State of Georgia :

By an act ot tlie Leglalature of Ocorela, enacted In tS&l, a charter nnlimlladInduration, waa (iriiiiicd to "The Ccntr»l Railroad and Canal C<im|Miiix oFGcorg a," with power to conalruct a canal or railroad rroin Havinnab to Macon.tlie canal or ruliway not to bo xnbject'id ti be taxed higher than oiic-balt perce< t. upon Ua annual net Income. In 18-'l^. liy an anici)(l[n«<nt to the charter.the raine of vhc company waa changed to " The Central Railroad and BaaklstfCompany of Oe rgla;" its capital atock waa dcclnred to be $.1.0 0,000: iDdthe IHth aectl<m ofthe amendment enacted that ** the said railroad and appar-tenancea of the t>amu shall not be sabjcctod to be taxed high<-r than one-hallof one per centum upon (ta annual net income, and no municipal or other oo]>poration abail have uie power to tax Haid company, but in.iy tax any properlyreal or personal, of the said company, within the jurisdiction ot saidcorporation, in the ratio of taxation of like property." Under Ihia latternet the company WIS organized In I8M, and proceeded to build the railroadBy sn^siqiient cnnctmenta the capital Ktock wcs Increased to S\000,OUO. In1317 thf lcj;lKlatnre incorporated tlic Mncon and WcaiL-rn Kallroad Company,with power to bnlld a railroad from Macon to Atlanta.An ainenclmont to the charter Increased the capltsi s ock to |2,.VH).00O. and thechartered riuhta of the company were conl'nned for thirty years from lt« pai*-

mge, and the road was to pay tho same tax as the other railroad coinpanlca.The railroad was constructed to Atlanta. On the S-lIb day of Au^'u^t, 1813^the Legislature parsed an act authorizing the ronsoitdation of the two com-panies uuder tho name of the llrat-named, 'The Central Kaiirond and Bank-ing Company of Georgia." The sto(kholder8 of the old companiea were toreceive certiflcates of stock In the new company to an equal amount as iheirold stcck. In the manrcr prescribed by law, the crimpanies consolidated.Thus matters stood when, on February 2S, 1S74, a law was passed defining thellabiliiles of railroads to taxation, and repealing so much of their charicni asconflicted with iho law. Pursuant to this act of 1874, the Comptrollcr-Ueneralassessed a tax of $46,031 6T against the Central Railroad and Banking Com-pany, and Issued an execution to collect It. The company then paid the taxof one-half of one per cent required by the prior law, and Instituted pro-ceedings In the mode provided by 'he statute to resist ihe exaction of the

.

remainder, on the ground that by Its charter It was not subject to betixed higher than one-half of one per centum of Ita annual netIncome, and that ihe tax of 18'1 Impaired the obligation of its contractwith Ihe Slate. Having failed in the State courts. Ihe eaae la

brought here for review. It la not denied that by the provisionsof the charter granted in 1833, amended In 1815, and accepted by theCentral Kiilroad and Banking Company, a contract was made that the com-pany ebould not be taxed hlijher than one-half of one per rent, upon its netincome. Nor 1« It denied that the protecticn thus promised was as perpetoalas the existence of the company iiself. But it Is contended on beh,lf of theSt^te that the charter granted In 18r-i3 and amended In Il'.35 was surrenderedby the union and consolidation of the company under the act of 1872 wUlithe Macon & Western Itullroad Company, and that the company Is now exiat-tcg under a charter granted by the latter act. By the construction placvdupon the act of 1872, however, no such union of the two companies was au-thorized as would work a surrender of their charter by both of ihem and thecreation of a new company; at most, it Intended a merger of the Macon MWestern Railway Company into the other, a mode of transfer of that companya.

franchises and property, and a payment therefor with the tteck of the CenlzalCompany. But this cift of new powers did not deitroy the identity of theCentral Company, nor.did ihe union of the Macon & Western Comnany withthe (.'entral Company have tho efl'cct to exempt it from taxation, but it re-

mained subject to all prior liabilities, the Cenir il Company taking it as it theaexisted.—Reversed. Mr. Justice Strong delivered tao opinion.

Chicago & Southwestern.—A dispatch from Davenport, Iowa,to tho Cuicago Tribune, Oct. 2, says: The Chicago & Southwest-ern Railroad, with all Its property and franchises, is advertisedfor sale November 1 next, in pursuance of an order of the United.States Court. The road extends from Washington, Iowa, toLeavenworth, 300 miles, has been leased for years by the ChicagoRock Island & Pacific Railroad Company, but is now to be soldout under the first mortgage. It will be bought in by the presentlessees, who will then have a clear title to the valuable property.

Erie.—A Press telegram from Milford, Pa., dated Septembor28, said : "At the session of the Court of Common Pleas nowsitting here. Colonel J. Augustus Page, counsel for several of thefifth-mortgage bondholders of the Erie Railway, to-day moved,that rule be entered amending the record and for judgment on.ftilure to answer. This was opposed by Wm. Jessup. counsalifor the Erie road, and Judge Waller decided that Mr. Page shallgive ten days' notice to defendant. It is understood that this i»

the first step of a coalition of American capitalists toward getting^

poesession of the Erie railroad at the foreclosure sale under thefifth-mortgage bonds."

European & North American.—The road from Bangor, Me.»to Vanceboro' was formally transferred, October 2, to the Re-ceivers recently appointed on petition of the trustees under thesecond mortgage by R E. Smith, Trustee under the c msolidatedmortgage, who has had possession some time.

Gclf Western Texas & Pacilc.—The Galveston yewn says:" The ludianoia & Cuero (or Morgan) road is advertised at publloauction in the Ciiy of New York on the 19th of December,proximo." The road is seventy miles long, from Indianola, Texas,to Cuero. It is not now worked, trains having recently beentvilhdrawn.

Lafayette Bloomlngton & Miss.—The stockholders «»f thi»railroad held a meeting at Bloomington, 111., September 29, andelected C. R Cummings. of Prkin, President ; John Cheney, ofBloomington, Vice-Prdsident; J. B. Cahers, of Pekin, Secretary

and Treasurer. These officers then executed a lease of the Huefrom Bloomington to Lafayette, now operated by the Toledo,Wabash & Western, to the Lafayette Muncie & BloomingtonCompany, who take possession and operate a ibiough line fromBloomington to Muncie.

Lafayette Muncie & Bloomington.—A bill has been filed la

the United States Circuit Court for the foreclosure of the first

mortgage on the Western Division of this road, and the Conrthas appointed Hon. Jacob D. Cox receiver. The Western DWvision extends from Lafayette, Ind., west to the Illinois line,

thirty-seven miles, and has been worked since its completion bythe Toledo Wabash & Western. There are $666,000 bonds out-

standing under this mortgage.

Massachusetts State Bonds.—The Treasurer of the Common -

wealth issued a circular on September 7, stating that he waaprepared to receive bids for the following named loans, witk.

coadiiiona annexed

:

Page 16: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

354 THE CHROT^ICLR (Octob.T 7, 18:6.

Firtt Four hundred and fifty thousand dollars, authorized by chapter 239

ef iho acts of 1976, on account of the Danvcrs Lunatic Hofpllal.

.Second Three hundred and fifty thousand dollars, auihoiized by chapter

126 acis of ;8T6, on account of the Worcester Lunatic Hospital.

The same to be issued as dollar loans In the registered bond'i of the Com-monwealth, dated September 1, 1876, payable in twenty years, bearing interest

»t the rate of S per ctntum per annum, payable eemi-annuallT on the first dav

cf March and September In each year. Principal and Interest payable in gold

at the treai-ury. No bond to be Issued for a less sum or amount than one

thousand collars; bonds to be delivered at the treasury and paid foi- whenielivcred. Payment to be made within thirty days after notice of the accept-

ance of the bid of the proposer; Inierestto be adjusted to the time of such

jeyment, at the rate and in the currency named in the bonds.

Bidders are also at liberty to propose foi said loans, or any part thereof, to

\e Issued In coupon bonds, principal and interest payable at the times and in

»he currency above specified

There were five bids, and tLe whole loan was awarded to

Kidder, Peabody & Co., at 113.29, gold. The latter firm is now•ffering the bonds for sale.

New York & Oswego Midland.—Judge Blatchford has ordered

the sale of this railroad, unless the defendante, within 60 days,

pay the debt of the road, amounting to $9,976,023 in gold and

f245,765 interest in currency. Kenneth G. White is made master

eommissioner to sell the road at a sum not less than f3,500,000.The sale is ordered to take place at Middletown. The time for

the sale has not been fixed, but the property cannot be sold under

Jour months, as notice of the sale must be published for fifteen

•uccessive weeks in the newspapers of New York, Utica, Albany,

Oswego, Norwich, and Middletown. The property will probably

be sold in bulk to the highest responsible bidder. An exception,

however, may be made in the leasehold interests in the Rome andClinton and Binghamton roads, which may be sold separately, il

the receiver so directs.

Pacific of Missouri.—The Missouri Republican says : After

the decree of foreclosure and the sale on the third mortgagebonds of the Missouri Pacific Railroad for the benefit of the bondholders, Cowdry, Mrs. Miltenberger and other stockholders,

through their counsel, moved to set aside the decree and sale andior permission to demur or appeal, as they had not been protected

HI their interests as the stockholders against the third mortgagel»ondholders.

Judge Dillon, in passing upon the motion, stated that the de-

cree of foreclosure and the sale were final, and no objections onfair grounds had been made. The Cowdry claimants, represent-

ing an interest of $3,000,000, should have interposed their objec-

tions to making the decree at the time when the question wasbefore the last term of the Court. The failure to do this showedeither ignorance or neglect on their part. Leave was therefore

lefused to file petition to set aside the sale, as there were no goodreasons presented to justify the Court in allowing the litigation

to be re-opened and renewed.Mr. Shepley, of the counsel for the Cowdry party, then asked

leave to file a petition that the sale be set aside, as the decree of

loreclosuro was void for want of jurisdiction of the court. In

presenting the motion, he argued that upon the face of the re

-

eorded proceedings in the case there was a want of proper citizen-

ship. The third mortgage bondholders and their debtors were,

according to the court record, all citizens of one State, New York,and, under the law establishing the United States Circuit Court,

the parties to a suit like this one, had to be residents of different

States.

Judge Dillon stated that the decree was not void on that

Kccount, as an error appearing on the record could be corrected

ky amendatory proceedings, which were subject to contest, andhe would not grant leave to file the petition of avoidance. Theremedy lor the parties was a mindamus from the United StatesSupreme Court lo allow an appeal.

Philadelphia Newtown & New Yorli.r—This railroad wassold at auction in Philadelphia. Mr. Isaac Eyre, of Newtown,Pa., acting for a committee of bondholders, offered a bid of$10,yOO, and had the property knocked down to him at that

figure.

Portland & Rocliester.—A dispatch from Portland, Me., Oct.

2, says: The Portland & Rochester Railroad failed to meet thesemi-annual interest, due to-day, on $350,009 of first mortgagebonds. The annual meeting takes place on Wednesday, when anexplanation will be made.

Pnllman Palace Car Co.—The annual statement of the Pull-

Bian Palace Car Company, for the year ending July 31, shows thetotal revenue to be |2 ,555 Oil 36 ; total disbursements, $3,031,05866 ; surplus for the year, being excess of revenue over ordinarydisbursements, $523,9.53 30; amount expended in rebuilding an

i

jemodelling 14 old style cars, $43,915 71 ; balance of surplus for

the year, carried to credit of income account, $481,457 59.

KesponsibilitiesorTrnstecs.—The following letter, or opinion,has been addressed to Mr. Brayton Ives, and otliers :

Gentlemen. In response to your inquiry for information re-

specting the nature and extent of the duties and liabilities ofdirectors to corporations committed to their charge, and thejemedies of sliaieholders in case those duties are violated, wesubmit the following ;

When a person is elected to and accepts a directorship in anincorporated company, he becomes a trustee for the shareholdersand creditors, and it is his duty to perform the trust fully andentirely. He stands in a fiduciary relation to the company, andis bound to administer its affairs with prudence and discretion,

in furtherance of the objects and purposes for which it wascreated.

It has often been adjudicated that, while standing in this

Iduciary relation, he has no right to make any profit to himself•St of tliat trust or employment, and should not acquire to him-self an interest adveiiie to that duty. He has no right to put him-

self in a position in which his private interests conflict with his

duty to the company : and if, in his transactions while acting in

his capacity as a director, he makes any contract from the execu-

tion of which he will derive a profit, that profit belongs to the

company, and the courts will compel him to account for it ; he

can have no pecuniary interest in any contract between a com-

pany of which he is a director and a third person or corporation.

In a recent case (21 Wall, 616), the Supreiue Court of the United

States, in speaking of the conduct of directors, says; "Tbev had no

right to enter into or participate in a combinaiion, the object of

which was to divest the company of its property and obtain it for

themselves at a sacrifice, or at the lowest price possible. They

had no right to seek their own profit at the expense of the company,

its stockholders, or even its hondholdtrs ; such a course was for-

bidden by their relation to the company. They could not right-

fully place themselves in a position in which their interests be-

came adverse to those of either the stockholders or bondholders."

In a case before the Supreme Court of Ohio in 1868—Godin agt.

Cir. and Whitewater Canal Company—(19 Ohio State R., 169), the

conduct of directors in making a contract of sale with, another

company in which they were stockholders was reviewed and com-

mented upon. The Court says: " The venderand purchaser were

in the same interest. As directors of the canal company it was

the duty of Mr. Lord and his associates to obtain the highest

price tor the property, while, as stockholders of the Railroad Co., it

was their interest to get it as low as possible. It was, in effect, a

sale by the railroad company lo itself. There was no adverse

interest or adversary parties, and the sale was a mere form.

Nothing is better settled in equity than that such a transaction

on the part of a trustee does not bind the cestui que trust. It is

equally well settled that the property of a corporation is a trust

fund in the hands of its directors, for the benefit of its creditors

and stockholders.

If it was desired or intended to make such purchase of the

property as would bind the stockholders and creditors of the

Canal Company, all of them should have either been consulted or

brought out. That would have been the fair way to accomplish

the object. To undertake, by getting control of the company,

and then under pretense of acting &» agents and trustees for aUthe stockholders and creditors, deliberately to trample under foot

the rights of the minority, is rather a sharp practice, and one

which a court of equity will never tolerate. A director whose

personal interests are adverse to those of the corporation has no

right to be or act as a director. As soon as he finds that he has

personal interests which are in conflict with those of the company,

hr) ought to resign. No matter if a majority of the stockholders

as well as himself, have personal interests in conflict with those of

the company. He does not represent them a? perso ns. or represent

their personal interest. He represents them as stockholders, an d

their interests as such. He is trustee for the company, and when-

ever he acts against Us interests—no matter how much he thereby

benefits/or«iffn interests of the individual stockholders, or howmany of the individual stockholders act with him—he is guilty

of a breach of trust, and a court of equity will set his acts aside,

at the instance of stockholders or creditors who are damnified

thereby. Any act of the directory by which they intentionally

diminish the value of the stock or property of the company is a

breach of trust, for which any of the stockholders or creditors

may justly complain, although all the other stockholders and

creditors are benefited in some other way more than they are in-

jured as such.

The Court of Appeals of this State, in Coleman against Second

Avenue Railroad" Company, 3Slh New York, 233, asserts with

equal positiveness the same doctrine.

The principles we have stated do not countenance the idea that

the courts will interfere with the powers and duties of directors

in the management of the internal aflairs of the company whenthe act complained of arises from an error of jadgmeut, and does

not amount to a breach of trust, unleps the director has acted

under an interest which is adverse to this duty.

As to the remedy, there is but little embarrassment or diffi-

culty. When the directors are guilty of a breach of trust the

corporation may prosecute its action on the equity or law side of

the court, as may be appropriate under the special facts. In someinstances the courts have set aside and declared void the acts

complained of, and in others have held the directors liable per-

sonally in damages. It often happens, however, that the alleged

wrongdoers continue to be directors of the company, aud refuse to

bring suit. In thos-e cases the courts allow a stockholder to bring

the action in behalf of himself and all the other shareholders

against the company and the directors guilty of the breach of

trust. Wo remain very respectfully your.»,

RoHEnT Sewell,A. J Vandekpoel,Henry S. Bennett.

Wilmington & Reading.—The sale of this railroad has been

postponed lor one month. The adjournment of the sale was byorder of the United States Circuit Court, for reasons explainable

as follows :

There are two mortgages upou the road. The first is for

$1,213,500, and it is upon this that the trustees obtained, after

suit, the decree of Bile. The second mortgage is for $1,750,000,

and the trustees of the mortgage 'on Saturday last went to

Washington, and obtained from Mr. Justice Miller, of the Su-

preme Court, a .iuper^edeas over the decree of the Circuit Courtof the Eastern District of Pennsylvania, on the ground of nojurisdiction. This action in Washington was taken withoutnotice to the first mortgage holders. These facts, aud the action

of the Supreme Court, were given to the Circuit Court, now being

held in this city, whereupon an order of adjournment was made,with the result as stated.

Philadelplua Injuirer.

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Octoler 7, 1876.] TBGE CHRONi Sj; 355

I

€l)c Commercial Slimes,

coioiErHal^mw E.Bbidat Nioht, October 6, 1870.

Trade lias relapsed into dulness, approaching Btaf^nation. Theimpulse which was apparently given to business by a recovery

in domestic manufactures of cotton and wool, from the extremelow figures of the early summer, has wholly ceased, and even in

dry goods there are general complaints of slow sales andnnremunerative returns. In other branches of business there is areturn to the hand-to-mouth policy of buying. The impression

has gotte.1 abroad that there have been artificial means employedto give business affairs a healthy look, nnd this excites suspicion,

besides causing distrust in the stability of values.

Tlie following is a s'atement of the stocks of leading articles

of domestic and foreign merchandise, at dates given

:

1876. 1876. 1875.

Oc. 2. Sept. 1. Oct. I.

Beef ; tcs.andbbla. 2.064 3,714 665Porit bbls. 16,6)1 2i,373 23,437Lard tcs. 12,8W 25.312

Tooacco, foreign bales. 10,668 13,4iO 12,23i

Tobacco, domestic hhds. 85,10S 26,714 8i,3U8

Coffee, Rio . . bags. 21,319 3.5,599 61,281Coffee,other bags. 4,429 37.113 11,6!5Coffee, Java, &c mats. 20,578 47.157 60,754Cocoa baxs. 1,89) 2.756 4.33ihagar hhds. 49,724 S-.',589 99,340Sugar boxes. 35,223 3-!,035 30,411

Sugar bags. etc. 118,248 91,445 109,415Melado hhds. 1,2 1.0S8 H.IQSMolasses, foreign hhds. 5,373 3.80' 4,607Molasses, domestic bWs. 2,j0 S,4O0 1,975

Hides No. 137,000 154.500 203.700Cotton bales. 45,982 64,267 39,0Q8Roaio bbls. 47,584 61,603 49,095Spirits turpentine bMs. 3,016 2,560 8,29STar bbls. 1,850 l,n20 5,296Hice,E. I bags. 4.250 2,700 11,100Kice, doaestlc bbls.andtcs. 6O0 1.153 150Gunny cloth (K. I.) bales. 2,400 2.500 6,000Gunny bags bales. lOJ 1,100 2,031Linseed bags. 201,865 150,000 16!,859Saltpetre bags. 9,100 9,500 17,:i00

Jute ...bales. 10,800 10,2W 12,353Jutebutts bales. 11.600 20,200 6.20O

Manila hemp... bales. 49.882 54.635 63,055

Pork has been dull, but closes with a belter demand from ship-

pers, and sales of mess at $16 85@$17 on the spot; but the specu-lation was flat, although prices at the West were hig;her. Closingbids were $16 75 for October, and $15 50@15 60 for the wintermonths. Lard has been active, but closed tame, with sales of

prime Western at $10 80, and closing bids at $10 for November,$9 77i for December and January, $9 83^ for February and $9 90for March. Bacon is rather tending upward. Cut meats remaindull. Beef is rather more salable. Butter has partially declined,

but cheese has remained firm. Tallow has declined to 8fc. for

prime.Coffee has been in brisk demand the past week, and prices have

shown an upward tendency. At the close, stocks of all kinds are

much reduced, and fair to prime cargoes of Rio quoted at 18@19c., gold. Rice in good demand and firm. Foreign fruits in

(food demand and urm. Teas have been moderately active.

Molasses has been in moderate demand, with 50 test Cuba mus-covado quoted at 57@o8c. Raw sugars have been duU and weak,but still quoted at 8|o. for fair refining. Refined dull, withStandard crushed quoted at lie.

Kentucky tobacco lias been dull, and under an accumulation of

stocks prices are lower; sales for the week are only 400 hhds., of

whijh 250 were for export and 150 for consumption. Prices arequoted at 5i@8ic. for lugs, and 10@18c. for leaf. Seed leaf hascontinued active, and the sales for the week aggregate 3,175cases, as follows: 58 cases New England, crop 1872, 13c. and privateterms ; 165 do., crop 1874, private terms ; 323 Pennsylvania, crop1874, private terms ; 831 Ohio, crop 1874-5, CA, 6i, 7, 6J, 8ic. ;

375 New England, crop 1875, 6i, 15, 22c., and private terms; 890Pennsylvania, crop 1875, 6^, C|, 9, 20c. ; 233 Wisconsin, crop1875, 3@5c. and private terms. Also, 250 cases sundries at [email protected] tobacco easier, in sympathy with the decline in gold

;

Bales 500 bales Havana, at 88c.@$l 15.

The business in ocean freights has latterly been much moreliberal, principally in grain tonnage, and rates have undergoneftn advance, with the feeling quite firm. The demands for petro-leum tonnage have been small. Late engagements and chartersinclude: Grain to Liverpool, by steam, SJd.; provisions, 3('@353.per ton for bacon and 4.5@50s. for cheese; grain, by sail, 7f@8d.,and flour at 2?.; grain to London, by steam, 8d., boss, ^i., clieese,

453.; grain to Hull, by steam. 8d., provisions, 45@o03. per ton;lard to Hamburg, by steam, 47s. 6d.; graiu to Cork, for orders,

5s. 10}d.(n!63.@6s. 3d.; do. to the Bristol Channel, Ss. 5d.@5s 6d.

per qr.; refined petroleum to Cork, for orders, 5s. 3d.; do. to Ant-werp, 4b. 4id.; crude do. to Havre or Bordeaux, 4s. 7id. To day,business,was fair and rates steady : Qrain to Liverpool, by steam,

84@8id.; do. to London, by steam, 8d.; do. to Hull, by steam, 8d.;

do. to Cork, for orders, 63.®63. 3d.; do. to the Bristol Channel at

5s. 9d.; do. to Copenhagen, Os. 9d.In naval stores there has latterly been a falling off in the export

demand, and some declines have taken jjlace in consequence;

spirits turpentine, 34o ; strained to good rosin. $1 90@$1 95.

Petroleum has continued quiet, but firm, at 14c. for crude, in

bulk, and 26c. for refined, in bbls. Ingot copper was active, with100,000 lbs. Lake sold on theipot, at 2ni@21c., and 1,000,000lbs. for November and December at 21c. Hops have been active

and close higher, at 27@38c. for State, 1876. Whiskey has ad-vanced to $1 15, tax paiJ. Grass seeds are higher at 13@13Jfor clover, and $3@$3 10 for timothy.

COTTON.Friday, P. M., Oct. 0, 1876.

The Movbuknt op the Crop, as indicated by oar telegranwfrom the South to>night, is given below. For the week endingthis evening (Oct. 6), the total receipts have reached 122,1^bales, against 95,8t3 bales last week, 02,998 bales the prevlona

week, and 41,437 bales three weeks since, making the total receipt*

since the Ist ot September, 1876, 344,131 bales, against 285,808

bales for the same period of 1873, showing an increase since

Sept. 1, 1876, of 53,323 bales. The details of the receipts for

this week (as per telegraph) and for the corresponding weelu offive previous years are as follows :

Receipts this week at— 1878. 187S. 1814. 187J. 1872. I81I.

New Orleans 29,511

lo,lir

18,992

1,192

17,56)

15,772

38)

1,339

861

5,914

20,689

971

SI. 867

9,852

1»,133

616

23.783

11.443

1,4;8

219

2.720

11,375

331

17,573

8,050

19.881

1,273

24,244

8,505

197

2,701

301

1,784

12,201!

93

11,260

3,824

t 7,875

11,592

2,294

887

1,181

1S7

651

7.1*0

2J1

24,421

9,146

11,S33

20,901

[ 7,433

9:2

293

2,839

8,448

1,':89

11,880

Mobile 8,«lft

PortRoyal, 4c. ..8,671

18^608

[ndlanola, &c 6,787

Tennessee, Ac 1,878

Florida

North Carolina

159

2,747

Norfolli 7,506

City Point, *c S32

Total this week 122,199 102,402 93,877 46,133 e,~,m 64,0»7

Total since Sept. 1.... 344,131 235.808 251,565 133,516 318,088 186,617

The exports for the week ending this evening reacb a total of

34,500 bales, of which 23,279 were to Great Britain, 8,237 to France,

and 4,000 to rest of the Continent, while the stocks as made upthis evening are now 295,074 bales. Below are the stocks and

exports for the week, and also for the corresponding week of

last season:

Week ending

Oct. 6.

Exported to Total Same Stock.

Great

Britain.Prance

Conti-

nent.

this

week.

week1875. 1876. 1875.

New Orleans* 8,49! 3,437 50 11,979 15,308 76,705 4->,02».

Mobile 14,775 14,445

Charleston 2,C03 3,400 3,059 8,453 SOO 29,412 30.865

Savannah .... 42,787 40,061

Galvestont ... - 2,029 38,358 19,947

New York 7,781 1,398 90O 10,071 13,593 62,419 39,067

Norfolk. 1,785 1,785 15,583 6,818

other portst 2,216 2,216 3,338 15,000 14,168

Total this week.. 22,279

62,425

8,227

21,823

4,000

4,435

34,508 35,073 295,074 2()9,4U

Total since Sept. 1 83.636 63,514

* Xew OrleariD,—Oar telegram tonight from New Orleans shows that (besidesabove exports) the amount of cotton on slUDboard and engaged for sblpmeat attliLii pore Is as follows: For Liverpool, 6,5'Xl 'tale*; for Havre, 19,50J bales; forContinent, 2.ftW bales ; for coastwise ports, 700 bales; which, if deducted fromthe siocit, would leave 43,iJOO bale-, representing the quantity at the laualug and lapresses unsold or aw litlng orders.t Galoe-Uon.^Onr Galveston telegram shows Cbesld-^s above exports) on ship*

board at tint port, not uleareil: For Liverpool, 7,149 bales; for other foretgn,1,318 bales ; for coastwise p Tts. 3.dl7 bales ; which. If deducted from the stock,would leave remaining a6,0i( bales.

t The exports this week under the head of "other ports" include from Boston652 bales to Liverpool ; and from Philadelphia. 1,561 bales to Liverpool.

From the foregoing statement it will be seen that, comparedwith the corresponding week of last season, there is a deereoMin the exports this week of 567 bales, while the stocks to-night

are 85,650 bales more than they were at this time a year ago.

The following is our usual table showing the movement of cotton

at all the porta from Sept. 1 to Sept. 29, the latest mill dates:

BBCBIPTS BXPORTBD SINOB SBPT. 1 TO—Coast-wisePorts.

PORTS. SINOB SBPT. 1.Oreat

BritainPrance

Other

forei'nTotal.

Stock.

1876.

41.a96

1875.

N. Orleans. 32,U81 7,140 9,315 50 17,035 13,754 53,416

Mobile 15,310 17,857 >• 1,224 1,221 8,400 9,961

Oharlest'n • 34,042 3i,900 l,7i9 .... 1,729 11,0«0 23,039

Savannah ..48,978 42,489 3, 10 J 3,102 20,739 29,567

Galveston*. 43,719 25,2.8 1,252 658 1,905 21,545 29,003

New York.. 8,1)4 1,679 22,063 1,871 335 24,335 58,311

Florida 789 550 .... 739 ....

N. Carolina 6,352 4,166 • • t .... 3.631 2,783

Norfolk* .. 23,910 23,614 .... 16,000 8,341

Other ports 2,40; 1,359 4,360

40,146

4,860

5»,lo0

... ll,SO(i

Tot. this yr. 521,93! 13,593

1.619

433 9j,95'; 230,414

Tot. last vr. 15.3,406 19 871 6,947 58,141 92.730 161,776

• Under the head ot OAnrlMton is Included Port '{jyal. &c.: onder the head offfjte«»(on Is Included ludlano.a.Ac; under the head of Norfolk is Included CityPoint, &c.

These mail returns do not correspond precisely with the total of

the telegraphic figures, because in preparing them it is always

necessary to incorporate every correction made at the ports.

Page 18: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

86^5 IHE CHRONICLR [October 7, ]876.

Tliere has been a farther decline of -ic in cotton on the spot.

A redaction of l-16c. on Wednesday was caused by tlie lower

qaotationa from Liverpool, but the farther reduction of l-16c>

on Thursday was in the face of a more active Liverpool market'

and must be attributed to the very material decline in currency

latep of excliange, which took place on that day, and to the very

free receipts. The decline to 10|o. for middling uplands led to

rather more activity. To-day there was a steady market, with a

moderate inquiry from shippers and spinners. The speculitors

in futures were somewhat startled on Monday by accounts, public

and private, of the occurrence of a killing frost at Memphis, and

-white fros*, of more or less severity, as far South as Montgomery,

in Alabama, Meridian in Mississippi, and Augusta in Georgia.

The frost report from Memphis was accompanied with the state-

ment that owing to the drought it had done very little damage;

but it was sufficient to prompt the bears to an extensive covering

of "shorts," and in the face of the receipts at the ports aggre-

fating 31,000 bales, prices advanced l-16@3-32e. But on Tues-

ay the conviction was reached that the frost had done very little

injury ; and this, with more warlike news from Turkey, causedmuch depression during Tuesday and Wednesday, followed by a

partial recovery on Thursday, from no very well defiaed cause,

although Liverpool was more active. Crop estimates seem, for the

moment, to have been almost entirely lost sight of. To day,

futures were weaker, and the early months declined l-16c., fromas little apparent cause as the advance of yesterday.

The total sales for forward delivery (or the week are 105,200

bales, including free on board. For immediate delivery the

total sales foot up this week 9,603 bales, including 2,399 for ex-

port, 6,318 for consumption, 985 for speculation, and in

transit. Of the above, 958 bales were to arrive. The following

were the closing quotations to day

:

The Visible Bupplt of Cotton, as made up by cable and

telegraph, is as follows. The continental stocks are the figures

of last Saturday, but the totals for Great Britain and the afloat

for the Continent are this week's returns, and consequently

brought down to Thursday evening; hence, to make the totals the

complete figures for tonight (Oct. 6), we add the item of exports

from the United States, including in it the exports of Friday

only:1878. 1875. 1874. 1878.

Stock at Liverpool 691,000 669.000 691,000 693,000

Stock at London 34,250 65,000 114,500 SC5.750

Total Great BrltaiD stock 723,850

Stock at Havre 197,2.50

Stock at MarseilleB 4,000

Stock at Barcelona 63,0C'0

Stock at Hamburg ll.OOO

Stock at Bremen 60,000

Stock at Amsterdam 6i,750

Stock at Rotl«rdam 16.600

Stock at Antwerp 17,000

Stock at other continental ports.

.

14,750

Kew ClasslOcatlon. Uplands.

Strict Good Oidlnary..Low MiddlingStrict Low Middling ..

MiddlingGood MiddlingStrict Good Middling.

.

Middling FairFair

Ordinary per lb. 9 1-16 9...,Strict Ordinary 9 7-16 «....Good Ordinary » 15-160,..-—-•

10 3-16 ®...,10 7-16 ®....10 :l-16a....10« a....11 1-16 a....11 5-16 @...11 n-i6a...12 7 16 a....

Alabama. NewOrleaaa

9 1-16 a.... 9 1-16 a9 7-16 a... 9 7-16 a.9 15-169.... 9 13-lCa10 3-16 9... lox a.10 3-',6 a.... 10 11-16»ID i3-;6a.... 10 16-16®11 a... 11 1- 6 aU 3-^6 a.... 11 5-16 a11 7-16 a.... 11 9-16 a11 13-16*.... 11 15-I6a12 9-16 a.... 12 U 16 »

Texas.

9 1-16 a..9 7-16 !»..

9 15-163..Wi a..10 11-16 ».,10 15-163.,11 1-16 @.,11 5- 6 a..U 9-16 a.,n j.5-16».

12 ii-.6a..

STAINED.

Sood Ordinary 8 13-16 I Low Middling 9 13 16

Strict Good Ordinary 9 7-16IMiddling 10 3-16

Below we give the sales of spot and transit cotton and price of

Vplcmdg at this market each day of the past week :

NewClassification.

SaturdayMondayTuesdayWednesday....ThursdayFriday

3016.58

35069

680339

Total 2.299

Exp't. sump, ula'n

859!,M>1,449606

1,243

1,016

6,318

Spec- Tran-sit. Total.

1,281

1,7151,8

6752,1231,918

9,6(B

GoodOrd'ry Ord'ry. Midl'g. dllng.

9 3-169 8-16

9 3-16

9 [-16

9 1-16

10 1-16

10 1-1610 1-16

10

LowIMld-

10 9-16

10 9-1610 9-16lo;^

9 15 16 U! 7-16

9 15-16 10 7-16

1111

It10 15-16

10«lOX

Delivered on contract, during the week. 2.700 bales.

For forward delivery the sales (including free on board),

have reached during the week 105,303 bales (all middling or onthe basis of middling), and the following is a statement of thesales and prices

:

For October.iMIes. cts.WOp.n. 2d.:o 13-16

l.'JdUs. n '.aii

100 8.n.51h....li %SOU lOK1008.n....l0 29-3i

3.500 10 29-S2100 B.n.Sth. 1015-16

5.400 10 15-16100 s.n 5th.l0>{-«SJO s.n.7th.>tr81-82S,300.... ^10 31-3J«ll0...y .. 11

5110 11 1-32

lUO 11 I-IS

15.930 total Oct.

For November.4.700 IC 31-3!

4.100 11

9.700 11 1-32

S,1U0 II 1-16ii.lOO U 3.32

3.U0 uaXl^X total Nov.

For December.

,

bales. cts.100 11 l-f6

2,100 11 3-32

.?.31I0 11¥2.200 !1 5-32

aOO 11 8-16

100 11 7-32

S.COO total Dec.

For January.1.50O a 7-32

9,309 1]«5,600 11 9-3S2,300 a 5-16

2,100 11 11-32

20,S00 total Jan.

For February.700 n%

l.SOO 11 13-32

2,400... 117-164.6J0 11 15 321.9J0 I1J<

\mi 11 17-32

For March,bales. cts.1,100 11 9-ls

2.100 11 19-32

1,100 U%1.600 11 2;-Si

100 II ll-'6-.00 l; 23 32

6,600 total March.

For April.400 V%

2,300 II 2iSi1,500 II 13-16

3.200 11 27-32

700 ;;>^300 11 23-32

8.400 total April.

For May.200 12

WO 12 1-S2

3KI total May.For June.

300 K%

bales.lOO .

400..TOO..

Ct"..15 3-16

.12 7-32

....Via

Total continental ports 435,250

l"otal European stocks '.. 1 , 160,500

India cotton afloat for Europe.... 240,000

American cotton afloat for Bnrope 55,000

Egypt, Brazil, &c.,afloat for B'rope 18,000

Stock In United States ports !95,0T4

Stock in U. S. Interior ports 31,920

anlted States exports to-day 6,000

Total visible supply.. ..baies.1,806,491

Of the above, the totals ol American and

American—Liverpool stock 303,000

Continental stocks 288,000

American afloat to Europe 55.000

Ocited States stock 296,074

United States interior stocks 31,920

United States expoits to-day 6,000

Total American bales. 983,994

East Indian, Brazil, dbc—Liverpool stock 383,000

London stock 31,253

Continental stocks 147,250

India afloat for Europe 240,000

Egypt, Brazil, Ac, afloat 18,000

Total East India, &c. 822, 500

Total American 983,994

Total visible supply. . . .bales .1,806,494

Price Middling Uplands. Liverp'l. 5KiJ.

These figures indicate an increase in the cotton in sight to-night

of 86,890 bales as compared with the same date of 1875, an

increase of 16,818 bales as compared with the corresponding

date of 1874, and an increase of 144,671 bales as compared

with 1873.

At the Interior Ports the movement—that is the receipts

and shipments for the week and stock to-night, and for tha

corresponding week of 1875—is set out in detail in the following

statement:

731,000 606,500 793.750

183,280 159,750 1C2,5C0

4,250 18,000 9,500

48,000 60,260 28,760

12,7i0 17,000 30.POO

30,500 87,750 88,750

53,000 97,000 97,000

10,0 23,000 26,750

7,000 9,.5C0 19,250

10,000 24,000 66,008

867,750 441,250

1,246.750

408.500

1.101,760 1,207,250

301,000 222,000 200,000

45,000 35,000 31,000

25,000 37,000 60.000

209,424 209,7(i3 121,718

25,930 35,168 32,860

12,C00 4,000 3,000

1,720,104 1,789,681 l,6Ci,828

ther descriptions are as follows:

284,000 lf9,000 144,000

163,C0J 201,008 156,800

45,000 35,000 34,000

203,424 209,763 124,713

25,930 3i,le8 32 860

12,ll0D 4,000 3,300_^——

~

739,864 673,931 494,578

S85.000 502,000 449,000

85,000 114,5'JO 2C 5,750

204,750 240.250 252,600

.M1,000 22J.O00 200,000

25,000 87,000 60,000

98l',750 1,115,750 1,167,230

739,354 673,931 494,673

1,720,104 1,769,681 1.661,383

6Jid. 8d. ^}imHi.

l.^OO total June.

For July.200 12 5-16

200 12 ii-sa

l.lUO 1>X7011 12 l.S3i

SOO 12 7-16

2,500 total July.

For August.101) 12 7-16

1,4''0 12x600 12 17-Ji

2,100 total Aug.

For Spptember.,00 B.n. 30.11.10 29-3212.400 total Feb.

The following exchange has been made during the w^ek

:

t-16c. pd. to exch. 500 Dec. (or Feb.

The foUowinsr will show spot quotations, and the closing prices

bid for future delivery, at the several dates named :

HIDDLXNO irpnA2n)S—AHBBIOJLN OLLSSIPIOATION.

On spotOctober— «.NovemberDecemberJanuaryFebruaryMarch

iS^;;;:::;;:JaneJulyAngQstaoidKvehanKe.. ..

Sales snot•tales lutnre...

Frt. Sat.11 11

10 31-32 10 29-8211 1-16 11

11 5-32 11 3-:i2

1! 9 32 It 1-^11 15-32 11 13-32ll« 1! 19-aj11 13-16 11 2S-3212 11 31-3212 -5-32 12K12 H-,3! 12 8-32

12 15-32 12 7-16llOK 1104.BOX 4.-0X1.553 1,2312;.4l0 17,1.0

Mon. Tues. Wed. Tburs.11 11 10 13-6 lOJi

10 15-16 10 31-32 10 IS-U 10 3l-3i

11 1-31 11 1-32 ;u 3 -32 11 1-16

11 SSI IIM 11 3-3! 11 !<-»

U 6-16 na 11 7-3! 11 5-16

IIX11 21-32

i: 7-:6 11 13-33 '« ..UH 11 19-32 11 11-16

11 27-32 n 13--.6 U 25-32 UK ,12 1-32 12 11 31-33 12 1-16

12 :-32 12 S-IS IJ 5-32 12 7-3-.'

12K 12 11-32 12 5-16 12 IS- 3212X 12 15-32 12 15-32 12 17-82

no 110 119« USX4.f0S< 4. OX 4K1)1

l-'U^1,915 1 .89 J 615 5,12322,3110 20.200 19.500 13,6l(J

Frl."»10 15-'

6

V) S -3211 3-32liM11 i-16

IIX11 13-161212 5-3312 11-32

12 kI0»)i4.MX1.918

13,010

Augusta, GaColumbus, GaMacon, QaMontgomery, Ala .

.

Selma, Al"Memphis, TennNashville, Tenn...

Total, old ports

D:ll1a^ TexasJefl'erson, TexShreveport, LaVicksburg, Miss....Columbus, MissEufaula. AlaGriffln, GaAtlanta. QaRome, QaCharlotte,N. C.est..

St. Louis, MoCincinnati, O

Week ending Oct. 6, 1876.

Receipts. Shipments. Stock,

Total, new ports

Total, all

9.1888,4444,267

4,3 !0

4,681

11,095728

37.623

53s2,7394,7491,1165

3.65'>

1,9475.05;)

1,592!,8Cfl

2,4931,05'!

28,077

f,5.70O

7..'!00

2,673.3,3.'B

2,8r,9

3,2546,5)7613

26,602

1,283190

l.?61

4 230808

.3,320

6904,1801.1951.635

1,033954

5,6692,4 16

3,8734,202

4,06610,*S5

629

20,887

81,920

1866900

2,7622,o;61,-J99

1,330

8705,039

; 996

I310

1 8,193

! 4,492

23,128

47,489 57,048

Receipts. Shipments. Stock,

Week ending Oct. 8, 1875.

6,8431,963

2,6224,2634,1157.641

659

2S,C06

1,7258)6

2,) 31

3.966l.UOO

1,955778

2,593734

1,0192,0.30

2,090

21,402

49,408

5,827

1,9922,0H03,0152,542

6,485605

18,0:6

1,470608

2,92 i

8.591774

2,066786

2 050660

1,1861,I>iO

1,694

19,001

37,01

6,9281,871

1,6923,8894.6646,1811,305

25,938

1,010332

1,9221,381899S94387

1,263346208

1,833917

11,391

37,321

The above totals show that the old interior stocks haveincreased during the week 11,021 bales, and are to-night 5,990

Bales more than at the same period last year. The receipts at

the same towns have betn 9,617 bales more than the same weeklast vear.

Bombay SaiPMBNTB.— According to ourcable despatch received

to-day, there have been 3,000 bales shipped from Bombay to Great

Britain the past week, and 11,000 bales to the Continent; while

the receipts at Bombay during this week have been 7,000 bales.

Page 19: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

October 7, 1876] THE CHRONICLE 357

The moTement since the Ist of laaaarr is at follows. Theie are

the figateg of W. Nicol & Co.. of Bombay, and are bioaKhtdown to Thursday, Oct 5 :

r-8htpmenti tbls week-<ereat Con-Britain, tinent. Total.

1S7S 3.000 11,000 14,00))

1875 .. »....

1814 4,000 9,000 6.000

>-BhlpmentB«lnce Jan.l-< >—Receipts.—GrfBt Con- Thli fllDceBritain, tinent. Total, wt^ek. Jan, 1.

551,OJ0 3T),(W0 984,000 7,000 1,010.0008114,000 415.000 l,21U,U00 2,000 1,310,000

T'JI.OOO 996,000 1,160,000 !),00« 1,216,000

From the foreKoing it woald appear that, compared with last

year, there is an increase of 14,000 bales this yea^ in the week's«bipmentB from Bombay to Europe, and that the total movementsince January 1 shows a deerease in shipments of 395,000 bales

compared witn the corresponding period of 187S.

Weathkr Reports by Tblkoraph.—The weather the past

week has, in geueraV, been very favorable for picking purposes.

A killing frost has, however, visited some sections, and done in-

jury. In all the northern part of Texas the top crop has thus

been destroyed, but as the bottom and middle crops are reported

safe and very abundant in all that section, the yield is still ex-

pected to be la excess of last year, if the picking season continues

favorable.

We give to-night tlie portion of our monthly reports which

have reached us. They bring the condition down to October 1.

Although we have received as yet but few from Arkansas, those

received would seem to confirm the information we have hereto-

fore published as to the deficiency of yield in some of the rich

counties of that State, this year, compared with last year.

Louisiana, in the lower third of the State, would appear to have

raised more cotton than a year ago ; in the middle tier of

parishes and along the Red River a decreased crop (mainly on

account of the drought) is reported ; in the northern tier the yield

will not be very different from last year. The condition in Mis-

Bissippi, so far as our information goes, would seem to be quite

similar to that reported for Louisiana. In all these States, how-ever, the weather has been durinjt the month very favorable for

picking purposes, so that the crop is being gathered rapidly and

in excellent condition.

Oaheston, Texas.—There has been no rain here all this weekThe thermometer has averaged 71, the highest being 87 and the

lowest 57. The weather has been too cold on Saturday, Sundayand Monday, wiih high wind, but as the week closes there has

beea a favorable change in the weather. Ice formed this weekin the northern part of the State. Throughout the State there

is no top crop, being lost south from caterpillars, west fromdrought, and north and east from grasshoppers and frost. Theplant is killed everywhere; nevertheless, the bottom crop is safe

and very abundant everywhere, and the middle crop generally

good. The general belief is that Galveston receipts will exceed

last season, but all now depends on the picking season. Picking

will close everywhere by Christmas. The rainfall for the monthhas been sixty-four hundredths of an inch.

Indianola, Texas.—We have had an unusually severe storm on

one day this week, which has interfered with the picking andhas beaten out much open cotton. The weather has been too

cold. There has been no frost, but there is no foliage to be

killed. Average thermometer 70, highest 80 and lowest 56. Therainfall has reached two inches and forty-two hundredths. TherainfcU for the month has been three inches and thirty-four

hundredths.

Corsicana, Texas.—We have had a killing frost this week onSaturday, Sunday and Monday. Grasshoppers have also ap-

peared in swarms, devouring everything green. The bottomand middle crops are safe and very abundant, but the top crop is

lost. Average thermometer during the week 64, highest 89 andlowest 41. There has been no rainfall. The rainfall for the

month is one inch and ninety-eight hundredths.

Dallas, Texas.—Vfe have had no rain here all the week. Wehave had a killing froat on three nights, which, with the grass-

hopper?, has finished the top crop. The yield will still be good,

but picking will close early. Average thermometer 68, highest

85 and lowest 44. Total rainfall for the month, thirty-five

hundredths of aa inch.

New Orleans, Louuiana.—No rain has fallen here this week.The thermometer has averaged 69. We have had a frost this

week, but not a killing frost. The rainfall for the month is

eighty-four hundredths of an inch.

Shreveport, Louisiana.—The rainfall during the week (on the

4th inst.) has reached two and twenty-five hundredths inche?.

The thermometer has averaged 63, the highest being 84, and tlio

lowest 42. Picking has progressed rapidly, and considerable of

the new crop has been put on the market.

Bastrop, Morehouse Parish, Za.—There has boon no rain this

montli. Thermometer stood from 80 to 9(5 degrees from the 1st to

the 12th, and since has varied from 48 to 80 degrees. The crop hasceased to grow, on account of dry weather. Prospects are Tery

good in my immediate vicinity. There having been no rain, tha

cotton is being gathered very fast, and is in good condition.

Cotton two-thirds open. Picking was general about the 5th of

September.

Vidaiia, Concordia Parish, La.—Only in very limited districts

has there been any rain in this parish during Septeml>or. Therewas rain the first half of August, but since then substantially

none. The plant has matured rapidly during the month, andthe bolls have opened very fast, the dry weather stoppiaf

growth, and causing the leaves to fall. Picking is makingexcellent progress in spite of the election excitement. What the

yield will be, compared with last year, no man can at present

correctly estimate. Mach will depend on the yield in the

low lands, which wore so |backward, bat have grown very

fast since early in August. The general opinion is that the crop

will be short. I should estimate the yield of this Parish last

year at about 20,000 bales, on 35,000 acreage.

Columbia, Cxlduell Parish, La.—During July and first half ofAugust cotton developed well. Since then we have had a

drought, and it has stopped growing, and there will be no lop

crop. Foliage is generally off, and the bolls are opening very

rapidly. Quick work is being made with the picking, so that thft

early receipts are large. This is likely to give an impt'ession of

a larger yield than will be realized. The crop will be consider-

ably short of the early August expectations, drought and rusthaving done much injury.

Opelousas, St. Landry Parish, La.—Our weather has beeasplendid almost all the month, and cotton has developed Unalyand is being picked rapidly. Our planters are sending the cropto market as fast as possible, and in excellent condition. Wasliall make more cotton than last year.

Port Hudson, Eatt Feliciana, La.—We have had the beat ofweather during September, and cotton has continued to developwell. The plant is in fine condition, well fruited, and the IkjUs

are opening rapidly. Picking is going on very satisfactorily,

and the cotton is being secured in excellent condition—mucllbetter than last year.

Vickshurg, Mississippi.—We have had showers on two daysthis week. The thermometet' has averaged 69, the highest being82, and the lowest 42. Picking is progressing finely, and planter*

are sending their crop to market freely.

Cclumbus, Mississippi.—We have had a frost on one night this

week, but not a killing frost. The weather has been clear andpleasant all the week.

Corinth, Alcorn County, Miss.—The weather has been favorabiathroughout the month of September. It showered on the 5th,

and there was a very heavy rain on the 20th. The condition ofthe crop is now good, well fruited on uplands, but on the low-lands spotted ; the latter cannot make a full crop. The favor-

able weather during the month lias had a beneficial effect, and amarked improvement is the result. Uplands have not improvedso perceptibly in consequence of having developed their growthearlier. A continuance of favorable weather will add furtherimprovement. Cotton is opening well, aud picking is progress-

ing finely. Picking began on the 20th ; with favorable weather,picking will be through by December 1. We pay this year for

picking cotton 60 cents; last year 75 cents to $1 per 100 pounds.Benton, Yazoo Co., Miss.—There has been no rainfall during

the month in any part of the county, save a light shower on tha22d in parts of southern portion ; average thermometer to 25thinstant 70^ degrees ; last five days 69 degrees. Cotton is almostentirely opened, and is not an average fruitage ; new growth ofAugust and first half of September now stopped. The crop is

nearly all open on hills aud dry bottoms ; a heavy storm would doincalculable mischief and damage ; red rust increased on uplands,preventing maturing of late top crop. Picking became generalbefore 10th September, and will he finished, if weather permits,

by 1st to 15th November. We pay 50 cents per hundred this

year for picking, and feed hands ; last year we paid 75 cents perhundred and rations.

Cherry Creek, Pontotoc Co. , Miss.—The weather has generallybeen fair the past month, and until the 26th warm ; thermometerfrom 80 to 94 in the hottest part of the day; it rained on the 30ihat night ; it was not a very heavy rain ; damaged cotton batlittle. The crop in this section is ligliter tlian usual, owing tothe tjp crop falling off on account of the drouth from 14th Aogostto 20th September. It ia opening well, and picking became gen-eral on the loth September. If health and weather remain good,pickinit will be finished by the 15th November. We pay this

year for picking 50 cents per 100 lbs. and furnish one meal ; last

year we paid 73 cents per 100 lbs. and one meal.Little Hock, Arkansas.—On Wednesday and Thursday of thin

week it lias been cloudy, with rain, the rest of the week l>eing

clear and cool. The thermometer has averaged 55, ranging fronx

75 to 39. The rainfall is one inch and twenty-four hundredths.Camden, Ouachita Co., Arkansas.—We have had no rain dur-

ing this month here, and none worth naming in the adjacent

counties ; have no record of tlie thermometer, but the weatherhas been pleasant, except about three days of warm weather ,

about the 20th. Crop nearly all opened ; owing to dry weatherthe "top crop" will fail to mature. The weed is large fromJuly rains, but the branches are far apart, and bolls far apart.

We' have to reduce our estimate to 6') per cent, of last year'n

Page 20: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

?68 THE CHJIONICLE [October 7, 1876.

crop, which was unusually large ; the present ia nearly an aver-

atje crop for this section. Picking is progressing rapidly, al-

though delayed to some extent by sickness, though health is bet-

ter than last year, when more than half the crop was badly dam-aged

;picking became general September 1, and will be about

finished during October. We pay for hands this year 50 centsper 100 lbs. and board, or 75 cents without board ; last year 75cents per 100 lbs.

Plumer's Station, Conway Co., Ark.—We have had no rain at

all tbis monih; the weather has been pleasant. The conditionof cotton is not good, as it is not well fruited and not growing.It was ton dry in August and September. It is opening well, andpicking is progressing exceedingly well. It began lOlh Sep-tember, and I think most of the crop will be gathered by first ofJanuary, 1877. We pay this year 50c. per 100 lbs.; last year wepaid 75c. per 100 lbs.

Naahmlle, Tennasee.—It has rained here on three days duringthe week, the rainfall reaching suventy-eicht hundredths of aninch. The thermometer has averaged 58, the extremes being 40and 70.

Memphis, Tennessee.—It has rained here on four days of theweek, the rainfall reaching one inch and ninety-seven hun-dredths. We had a killing frost on Sunday, which damagedbottoms, though the damage was not general. The top crop is

lees reliable than last year. Picking is progressing finely.

Average thermometer, 60 ; high-st 72, and lowest 40. Plantersare sending their crop to market freely.

Mobile, Alabama.—There has been no rain here all the week.We have had a frost this week, but not a killing frost. Pickingis progressing finely, and the crop is being sent to market freely.

The tributary rivers are lower. Average thermometer duringthe week Hi, highest 83, and lowest 43.

Montgomery, Alabama.—The thermometer at this place husaveraged during the week 00, the highest being 81, and thelowest 41.

Selma, Alabama.—We have had no rainfall during the week.The days have been warm, but the nights have been cold. Pick-ing is making fine progress, and cotton is being forwarded to mar-ket freely.

Madison, Florida.—Telegram not received.

Macon, Georgia.—There has been no rain here this week. Wehave had a frost, but not a killing frost. The thermometer hasaveraged 79, ranging Irom 46 to 85.

Atlanta, Georgia.—The days have been warm, but the nightshave been cold during the week, and there has been no rain.

We have had a irost this week, but not a killing frost. Thethermometer has averaged during the week 57, the highestbeing 71, and the lowest 41. The total rainfall during the monthis eighty-two hundredths of an inch.

Golximbus, Georgia.—There has been no rainfall here all this

week. Tbe thermometer has averaged 61, the highest being 76,and the lowest 38. The rainfall for the month is sixty-twohundredths of an inch.

Savannah, Georgia.—The weather during the week has beenpleasant. There has been no rain. The thermometer hasaveraged 65, the highest being 85 and the lowest 40.

Augusta, Georgia.—During the week the days have been warm,but the nights have been cold. There has been no rain. Thethermometer has averaged 60, the hiahei-t being 80 and thelowest 39. Accounts are favorable. Planters are sending theircrop to market freely. The rainfall for the mouth is two inchesand fifty hundredths.

Charleston, Soitth Carolina.—It has been showery one day theearly part of the week, but the latter part has loeen clear andpleassnt. The thermometer has averaged 73, the highest being82 and the lowest 48. The rainlall for the week is nineteenhundredths of an inch.

Kinston, Lenoir County, N. C.—The weather has been pleasantall the week, except tbat on the 6tn it was showery ; on tlie

10th, 11th, and 13th, a light rain ; on the 15th, 16th, 17th, and23d, heavy rain, and on the 2Ut and 33d, cloudy and damp. I

consider the condition generally poor, as the cotton ia rotting in

the bolls. In some places the plant is very well fruited, but asa general thing, I think, not so well as last year. It has grownsome this month, but no advantage to the crop by it that I

can hear of. Caterpillars made their appearance about the 20thof September ; they may injure lowland cotton to some extent.It is the opinion iu tbis section that the crop was injured by thestorm of the 16th and 17th about one-eighth ; the wind and rainbeat the cotton out of the bolis, and it sprouted before it could begathered up. It is now opening very fast ; picking becamegeneral about the 15tli inst. and will be finished about the 15thDecember. We commenced picking at 35 and 40 cents per 100pounds, and had to raise up to 50 cents to get the hands to pick

;

paid last year 50 cents per hundred.Elizabeth City, Pasquotank Co., North Carolina.—The first

twelve days of September the weather was fair and pleasant ; onthe 14th it commenced to rain in torrents until the folfowing day,when we had the most severe equinoctial gale for thirty years.Houses were upturned, trees blown down, and many small boatsia the harbor were driven into the streets and wrecked. Thedamage to cotton and corn is incalculable. I think both cropsare cut off at least one-third each. The condition of the crop,therefore, at the present time is very bad from the cause abovestated. Previous to the storm it was not as well fruited asusual ; now, fruitage has stopped, and a premature ripening willfollow, caused by the almost entire loss of the leaves. Upon thewhole, I think we shall not make much over a half crop. It is

opening quite well, and picking has just gotten fairly under way.Picking will be finithed about the 1st of December. Hands arepaid a half cent per pound this year. Last year, three-quarterswere paid.

The following statement we have also received by telegraphshowing the height of the rivers at the points named at 3 o'clockOct. 5. We give last year's figures (Oct. 8, 1875) for com-parison, ^oct. 5, "76^ ^Oct. S, '75.-,

Feet. Inch, Feet. InchNew Orleans.. Below high-water mark 10 3 9 4Memphis Above low-water mark 16 7 10 1Nashville Above low-wator mark 1 10 10 2Shreveport. ...Above low-water mark t> 8 12 5Vlcksburg—Above iow-water mark 84 11 13 10

New Orleans reported below high-water mark of 1871 untilSept. 9, 1874, when the zero of gauge was changed to high-watermark of April 15 and 16, 1874, which is 6-lOths of a foot above1871, or 16 feet above low-water mark at that point.

Gunny Bags, Bagging, &c.—Bagginij is still quiet, and thomarket is unchanged in tone, witli but few sales making, of asmall description,and holders are offerinsr parcels at 13o., tlioughi

we do not bear that this has been paid for any quantity. Tbereis a fair inquiry, and a good demand is looked for in the nearfuture. Bags sold to the extent of 450 bales, on private terms.There is no stock here now. Butts have been in more demand,and we note sales of 1,300 bales on spot at 3|c., and the marketis firm at thia figure.

Liverpool, Oct. 6—3:00 P. M.—B? Cablb from Livbr-POOL.—Estimated sales of tbe day were 10,000 bales, of which3,000 bales were for export and speculation. Of to-day's sales,

6,300 bales were American. The weekly movement is gi^enas IdUows :

Sept. 15. Sent. 2S. Sept. 89. Oct. fi.

Sslesof theweek bales. 58,000 54,000 8!i,000 60.000Forwarded 2,000 2.000 1,000 2.000of which exporters took 5,000 6,0,10 6,000 7,000of wMch speca'.ators took 6,000 2,0110 8.000 2,000

Total 751.000 746,000 721,000 691,000of which American 3«2,000 358,000 326,000 808.000

Total import of the week £0,000 4-i,000 56,000 31,000of which American 10,000 7,000 11,000 n,00«

Actnalexport 3,000 8,000 6,000 8,000Amountafloat 330,000 20S,000 181,000 176,000

of which American 24.000 22,000 25.000 33,000Sales American 31,000 30,000 47,000 28,000

Tlie following table will show the dally closing prices of cotton for tbe wees:

Spot. Satnr. Mon. Toes. Wednes. Thnrs. Fn.Satnr,Mid.Uprds..@5 15-16 ..@5 15-16Mid. Orrn9..®6)i ..®8>i

.&> 15-16..@5%®6)i ..@6X

..@57i

..®6)t-

.®5%,.®6><

Futures.

Saturday —Sept.-Oct. delivery. Uplands, Low Mid. clause, 5 13-16d.Oct.-Nov. delivery, Uplands, Low Mid. cianse. 5 l^-16d.Sept. delivery. Uplands, Low Mid. clause, 5 a7-33a.Nov. delivery, Uplands. Low Mid. clause. 5 18-16d.Nov.-Dec. shipment, Uplands, Low Mid. clause, new crop, sail, 5 37-31d.Nov.-Dec. shipment, Uplands, Low Mid. clause, new crop, sail. 5 13-16d.

Oct.-Nov. shipment. Uplands, Low Mid. clause, new crop, sail, 5 13-16d.Dec-Jan. shipment. Uplands, Low Mid. clause, new crop, sail, 5Jid.Oct.-Nov. shipment. Uplands, Low Mid. clause, new crop, sail, 5 37-32J.

MoHDAT.—Oct.-Nov. delivery. Uplands, Low Mid. clause. 5 25-32d.

Nov.-Dec. shipment, Uplands, Low .Mid. clause, sail, 5 21-321.

Dec-Jan. shipment. Uplands. Low Mid. clause, 8.iil, 5J^d.Jan.-Feb. shipment, Uijlands, Low Mid. clause, sail, 5 2H-32d.

Dec -Jan. shipment. Uplands, Low Mid. claase, new crop, 5 27-33d.Dec-Jan. delivery, Uplands, Low Mid. clause. 5 25-32d.Oct-Nov. shipment. Uplands. Low Mid. clause, sail, 5 13-16d.

Nov.-Dec shipments. Uplands, Low Mid- ciause, new crop, sail, 5 13-16d.

Jan.-Feb. shipments, Upland--, Low Mid. clause, sail. 5^d.Jan.-Feb. shipment, Uplands, Low Mid. clause, sail, 5 27-32d.

Tuesday.—Oct. delivery, Uplaid^', Low Mid. clause, 5 25-3Jd.

Oct.-Nov. delivery. Uplands, Low Mid. clause, 5 a.i-Wd,

Nov.-Dec. delivery. Uplands, Low Mid. clause. 5 l;3-16d.

Dec. -Jan. delivery, Uplands. Low Mid. clause, 5 13-16d.Nov.-Dec. shipment. Uplands, L iw Mid. clause, new crop, sail, 5 27-32d.Dec -Jan. shipment, Uplands, Low Mid. clause, new crop, sail, 5^d.Jan.-Fe!>. shipment. Uplands, Low Mid. clause, new crop, sail, 5^^

5 2:)-32d.

Oct.-Nov. shipment. Uplands, Low Mid. clause, sad. 5 13-16d.Jan.-Feb. delivery. Uplands, Low Mid. clause, 5 li-16d.

Oci. siiipment. Uplands, Low Mid. clause, new crop, stained, 5 9-163,

.Jan.-Feb. shipment. Uplands, Low Mid. clause, new crop, sail, 5%d.

Wednesday.— Oct. delivery, Uplands, Low Mid. clause. 5 25 32d.jNov.-oec. delivery. Uplands, Low Mid clause, 5 2)-32'i.

Dec.-.Tati. delivery. Uplands, Low Mid. clause, 5 25-32d.Oct -Nov. shipment. Uplands, Low Mid. clause, new crop, sail, 5 25-32®Xd.

Nov.-Dec. shipment, Uplands, Low Mid. danse, new crop, sail, 5 13-16®S9-32d.

Dec. Jan. shipment. Uplands, Low Mid. clause, new crop, sail, 5 27-32d.Jan.-Feb. shipments. Uplands, Low .Mid. clause, new crop, sail, 5%d.Oct.-Nov. delivery, Uplands, Low Mid. clause. 53id.Nov.-Dec. delivery. Uplands, Low Mid. ciause. b%A.Nov.-Dec. shipment. Uplands, Low Mid. clause, new crop, sail, 5 25-32d.Nov.-Dec. shipment. Uplands, Low Mid. clause, new crop, sail, 5 13-16d.Oct.-Nov. delivery, Uplands, Low M'd. ciause. 5 25-3Cd.Nov.-Dec. delivery. Uplands, Low Mid. c auae. 5 25-32d.Feb.-Mar. delivery. Uplands, Low Mid. clause, 5 27-E2d.

Thursday.—Oct.-Nov. delivery. Uplands. Low Mid. clause, 5 35-32d.Nov.-Dec. delivery. [Iplauds, Low Mid, clause, 5 i(5-32d.

Feb.-Mar. delivery. Uplands. Low Mid. clause, 5 I3-16d.

Jan.-Feb. shipment, Uplands, Low Mid. clause, sail, 5%d.J)ec-jan. shipment. Upland*, Low Mid. clause, new crop, sail, 5 13-163.

Nov.-Dec. shipment. Uplands. Low Mlcf. clause, new crop, sail, 6 !3-16d.Jan. Feb. delivery. Uplands, Low Mid. clause, 5 25-32d.

Feb.-Mar. delivery. Uplands. Low Mid. claute, 5 27-32d.

Friday.—Oct. delivery. Uplands. Low Mid. clause. 5 13-16'1.

Feb.-Mar. delivery, Uplands, Low Mid. clause. 5 27-S2d.

Nov.-Dec. shipment. Uplands, Low Mid. clause, new crop, sail, 5 27-32d.Oct.-Nov. delivery. Uplands, Low Mid. clause, 5 1.3-16d.

Nov.-Dec. delivery. Uplands, Low Mid. clause, 5 25-3Jd.

Jan.-Feb. shipment. Uplands, Low Mid. clause, new crop, sail, SJjd.

Oct.-Nov. stiip.iient. Uplands. Low Mid. clause, new crop, sail, 5 13-16d.

Nov.-Dec. shipment, Upands, Low Mid. clause, new crop, sail, 5 I3-16d.

The E.yports op Cotton from New York, this week, show anincrease, as compared with last week, the total reaching 10,071

bales, against 7,707 bales last week. Below we gjve our usualtable showing the exports of cotton from New York, and their

direction, for each of the last four weeks; also the total exports

and direction since Sept. 1, 1876; and in the last column the total

for the same period of the previous year.

Page 21: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

October 7, lo".6j THE CHRONICLE 359

'Bxportiio(Gatton(bal«a)rrom Ifeiv Vork •tneellept.I. 1896

w»K RDIMeTotalto

date.

89,314

29,811

8,S67

8,21.7

20018590J

Sameperiod

6,447

6,447

690

Sept.20.

Sept.!ir.

Oct.4.

prev'unyear.

8,8«J

8,863

690

690

30)

7,470

~4T0

S97

2»I

7,781

7,731

1,890

1,893

9JO

900

2M56Other British PortB

Total to Gt. Britain

Havre

22,658

281

•Other French ports

1'atal Prencli 690

'm

283

Bremen and HanoverHambarg

2,428650

1,887

Total to N. Europe.

Spain Oporto&Olbraltar&cijl others

189 200

....

4.965

Total Spain, dec

~7.3S2

....

31,891Orand Total 4,7W 7.767 10.071 27,"0d

The following are the receipts of cotton at New York, Boston,

Philadelphia and Baltimore for the last week, and since Sept. 1, '76

:

biob'ts tbohH»W YORK. BOSTON. PHILADIU'IA BALTIHOBK.

Thisweek.

SinceSept. 1.

Thisweek.

SinceSept.1.

Thisweek.

SinceSept.l.

'3i8

Thisweek.

213130

1,117

SinceSept.l

New Orleans.. 4 4-26

S.B14

7,743

'864

4,3461.0228,09^

'296

15,065s.'.»5-

22,8 H(

93710.9763.'2O0

16,8561-2

2,4!0410

5*81,091

488

i;6J7

i.m8,-37

1,69a

P,56J

3,648

'sei

...

SavannahMobileFlorida8'th CarolinaN'th Carolina.VirginiaNorth'rn PortfTennessee, 4cForeign

83.^

2282,413....

Total this year 23,e;o

19,816

81,4|S

73.963

2,161 561 2,0*1 1,690 3,8.83

Total last year. 2,993 l.SSO 3,2;n 2,:9r 6,810

8H1PPINO News.—The exports of cotton from the UnitedStates the past week, as per luteat mail returns, have reached

21,273 bales. So far as the Southern ports are concerned, these

«re the same exports reported by telegraph, and published in

The Chronicle last Friday. With regard to New York, weinclude the manifests of all vessels cleared up to Wednesdaynight of this week. ^^^^^ bales.Saw York—To Liverpool, per stesmers City of Richmond. 42-2

Wyoming, 2,aB6 ...Ensliind, 1,419 Algeria, 670 ...per shpsIvanlioe, 899. ..BatesPainih, 1.85.5 .. 7,781

To Havre, per 8te.imer Labrador. 1,390 '

l,-^90

To Roiterdim. per steamer RatterJa:!!, 200 200To St. Peturfburi;, etc., per steamer Oih^llo, 700 70 1

Nkw Orleans—To Liverpi>t.), per steamer Warrior, 1,9*29 1,9'29

To Havre, per ship Loni(*c et Rc.se 3.4"i7

3I0BILE—To Havre, per schooner Mary Slnsmin, 1,!'24 l.a'24

Savannah -To Liverpool, per ship Larly Dufferln, 3,1J2 Upland 3,102TaxAS—To Liverpool, per brig GreRorio, 452 452Baltimork—To Liverpool, per steamer Nova Sct.tian, 100 .. 100Boston—To Liverpo .1, per sitamer Massachiisetis, 5i3 543Philadelpbia—To Liverpool, per steamer Pennsylvania, 415 415

Total 21,273

The particulars of these shipments, arranged in our usual form,Are as follows

:

Liverpool.New York 7,7jlNew Orleans. 1,929MobileSavannah 3, 102Texas 452Baltimore ICOBoston 643Philadelphia 415

TotM 14,322 6,061 200 7O0 21,273

Below we give all news received to date of disasters, &c., tovessels carrying cotton from United States ports :

Jakbs a. Gary, str., which was to be placed on the BaUimore Jfc Wilmington(N. C.l line, to succeed the wrecked steamer Rebecca Clyie, has beenwithdrawn after a portion of an outward cargo was aboard. It isunder-Btood the iinderwrtters decline to insure by her.

Nova Scotias, str., (Br.), Richirdson, from Baltimore for Liverpool, In goinsinto liulifitx at 3:30 A. M. Oct. 1, ran down and sunk a schooner boat ofabout 16 tons, coiitaiDing Obed and Mark Smith, brothers, who weredrowned. A woman named Tiiko, who was with them, was saved.

Unknown—A bale of cotton was passnd Sept. 16, lat. 46 30, Ion. 47.50, by barkAlutiida C. Smith, (Br.i, at New York, Sept. 27. same date, Ac, pickedup a dory with the nan'.e of ''Risk'' on it.

Several bales of cutton were passed Sept. 15, lat. 45, Ion, 48, by bark MinnieHunter, (Br.), at Delaware Breakwater, Sept. 26.

Cotton freights the past week have been as follows

:

-Llverpool.-.;f—. ^—Havre.--^ ,—^Rremen.-^^^/—Hamburg.—

,

St. Peters-Havre. Rotterdam burg, &c. Total.1,390 200 7U0 10,071

3,1C7 6,3661,-2-Jl

;.:'.

1.224

3,10245-2

100641415

Batarday...Monday ...

Tuesday..

.

WednesdayThursday..Friday

Steam. Saild. d.

..(& 11-32 »-32@5-16

..@ ll-3i fl-i2a5-I6

..@ 11-12 B-SiaS 16

. @ 11-32 !l~«ii5-lfi

..ft» 11-32 !)-3iab-16

..& 11-32 9-;235-16

Steam. Sail. Steam. Sail. Steam. Sailc. c. c. c. c. c.

Xcomp. .

.

,'^comp. K 7-16comp. %;^4Comp. .. Kcoaip. \ 7-lHcomp. aXcomp. .. ^icomp. Ji 7-lticonip. %3ticomp. .. %cotnp. 5*' 7-16comp. ariCorap. .. Jicorup. Ji 7-;6comp. Ji

?4comp. .. Jicomp. ^ 7-16comp. h

EOROPB\:i CoTros M\iiiiffir.-i.— la reference to these marketsoar correspondent in London, writing under the date of Sept.2i, 1876, states:

tiiVEBPOOL, Sent. 31.—The following are the prices of Ameri-can cottin compared with those of last year:

^Ord.* Mid-. .-Fr.A a.Pr.-> —Q.* Flne->Sea Island. M!i ISli 10 21 2) 28

UH 17), 18V 19«.U. L.ii. Mm. G.U.5 7-16 5S « 15-19 aw

^Same dato!875.->Mid. Fair. Oood.

Florida do ltj<Ord.

Upland 5KUoblle. ...5!<Texas ',)i

H. Orleans.5X

5 7-16 5 11-16 6

6X iJi 6 I -165 9-16 6 13-16 6X

a

MId.F.iHOX7

17 19

16 17Mid. U.M.C 15-16 7 s-ie8 I5-16 lii6 M-16 !%7 5-16 7X

19M.F.

tjince the cotnoiuacement o( the year the transactioot onspeculation and for export have been :

,—Aetna! exp. from Aetna)Llv., Hull A other «xp'tfromontporti todate-1 U.K. in187S.1876.

bales.American.. .. 13^,4.'.0

Brazilian 4,100Buyptlan. *c. 13,510W. fudta, &c. 620B. India, Ac. 33,120

Taken on spec, to tbta date-t1875.

bales.17(i,7;i0

5,46012,8701.7!W

'?l,2o0

1874.

bales.161,10018,511)

13,-002.460

6i,310

bales.74,7«910,5197,2;l6.320

136,li6

1875.

hales.103.60129.7516.29111,761

173,319

1875.

bale*.1 46,06028,2709,050

16,71

«

4»7,130

Total 19.5,310 27:, 170 261,570 231,936 823,746 706,2W

The following statement shows the sales and imports ofcotton tor the week and year, anJ also the stocks on hand onThursday er<ining last :

SAI.B3, KTO., or ALL DESOBIPTIONS.

SiO

Trade..\.iue.-lcan.. bales 28,070Brazilian S,270E:}yptian 2,790 150S myrna i Greek („„,(, ,„„Wo-t. Indian.... r'"""

'™East Indian 7,260 4 650

, Sales this week. -v TotalEx- Specula- thisport tlon. Total. year.

1,480

60

860

Same Averageperiod weekly salos.1875. 1876. 1S7B.

Sl.rao 1,314,310 1.301,41(1 37.460.5,3311 15!.82) 3I.V1C0 8.9.0

181.3:0 6.10

'•"'"l 73070,3o0f '"

2,'JIO n:,fi5i

3 i>o i'•"^

12,770 447,170

81,8108.510

S.OU

1,470

619.510 7,561 11,180

Total 46,980 5.780 2,400 55.160 2,1-2I,-2J3 2.535,840 51.920 53.050

bales.AmericanBrazilian.Egyptian.Sfuyrna and GreekWestlndian 3,9i8

East Indian 28.819

Thisweek.6,85'>

7,2! 7

899

—Imports.

-

To thisdate1876.

1,56S,19',

211,01618i,51(

:181

41,741405,551

To thisdate1875.

1,391. '248351, 6;0162,2 8

2,3^1

51.321600,31)6

Thisday.

."!57.ri0

ii?,5.;o

70, 2S')

36016,0 -O

151.S50

-Stocks.Samedate1875.

313.61083,74»87.7'«1,8008,410

232,710

Dec. SI,

1875.

285,73061,1130

86.000

[9,930

171,070

Total 47,609 2,4:3,319 2,53.',194 745,790 711,070 616,770

BREADSTUFFS.Friday. P. M., Oct. 6, 1876

We have had an active, and towards the close a buoyant market

for flour. The salea for the week approximate 100,000 bbls., and

prices have advanced 10920c. for the leading grades. A scarcity

of desirable lines from Spring wheat has led to more business in

flours from Winter, especially good extras of St. Louis and Mich-

igan, in the range of $G 2o(a(> 50, and Southern flours are doing

better. The production is large at nil points, but the large defici-

ency in stocks, caused by so much souring in the summer months,

does not seem to have yet been made good. To-day the market

clo.sed flat.

rhe wheat market has been excited and a'Jvancing. The warnews from Turkey has excited a speculative feeling among liold

ers here and at the West, and foreign accounts have comestronger, leading to considerable activity for export. The better

grades of old No. 2 spring have sold at f1 18(3$ 1 35, and newNo. 3 Chicago at $1 24(§|1 20. Winter wheats have advanced,

with a considerable business in reds at $1 20((iSl 80, and white

at |1 35(g|l 33. Receipts of wheat have considerably increased

at the West, as well as at this market, and yesterday a check was

given to the upward course of prices. To-day, there was very

little done, and the close was weak.

Indian corn has been active at rather better prices, with prime

sail mixed selling very freely at 58i@59c. on the spot, and 59c.

for all October ; but yesterday some depression was caused by

the decline in exchange and the high rates of o^ean freights.

To-day, prices declined ^c, and sail mixed sold for October at

571@57ic.

Rye has been more salable at 78@75o. for Western, and 86<g

90c. for State. Barley and barley malt ruled slightly higher,

but not active. Canada peas are dull, drooping and unsettled.

Oats have continued irregular and unsettled, with quotations

still covering an unusually wide range. Nothing has been done

for export. The market was weak.

The following a:e closing quotations

:

Flodb.I

.No. 2 Ifl bbl. J3 60® 4 10|

juperdne State <& West-|

em 4 60a 5 OilIxtra State, Ac 5-253 3 50Western Spring Wheat I

extras 5 1VS5 50i

doXXandXXX 5ti0i7I0,dowiuter X and XX.. 5 153 8 00

Unsound ;ind sour rtoar @ ....|

Cltyshipplng exfas.. .. 6 25.0 6 23 1

Ony trade and family I

brands 6 503 7 73|

Ubauc.Wheat—N0.3 sprlng.bnsh $1 103 1 1

Wo. 2 spring 1 18(t 1 23No. 1 spring 1 23^ 1 82Red Western 1 103 1 26Amber do : 28a 1 S3White 1 25$ t S8

Corn-<Vest'nmiz'd Sid 59Ye' low Western 634 60Southern 57(^ 62

Rye 744 90Oata—Mixed 88® 4TWhite 3ia sa

Page 22: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

860 THE CHRONICLR [October 7, 1876.

Fl/>UB.I

Grain.Southern bakera' and fa- | Barley—Canada Went... 1 05® 1 20mlly DrandB 6 76© 8 00 I State, S-rowed ®

Bonthem Bhlpp'e extras. . 5 wa b 60 | State, 4-rowed 91® 1 05Bye flour, saperflne 4 90a S SO i Barley Mai tr-State . ... 80a 1 10

Cornmeal—Weelern, 4c. 8 70,^2 95 Canadian 1 10® 1 30Oom meal—Br'wine. Ac. 3 353 3 SO | Peas-Canada.bond&free 953 1 30

The movement in breadatuSa at thia market haa been aa fol-

lows :

. BKOmPTB AT Haw TOBE. „ MPORTS rBOX WBW YORK. ,

, 18T6. . . 1876. , . 1875. ,

For the Since Since For the Since For the Sinceweek. Jan. 1. Jan. 1. '75. week. Jan. 1. week. Jan. 1.

Floar, bblB. 87,S60 2,913,316 a,641.0J4 32,570 1,4SI,895 4%9I8 l,4iiS,724

O. meal, " . 3,034 144,927 99.9S1 2,0'13 1:34.914 6,454 139.6;3

Wheat, baa. 550,617 19,531,761 S2,26d,?25 2f8,065 19.635,r,63 6:4,227 20,070,0^0

Corn, " . 881,724 19,858,212 18,541,081 610,469 13,787,144 855,36) 10,159,392

Bye, " . 41,935 905,690 128,610 .... 784,121 2,177 1(54,610

Barley. ". 179,a46 2.826,576 1,673.876 .... 9,165 .... 110

«at»....". 399,613 9,08i,423 7.075,994 1,623- 459,618 4,321 101,089

The following tables show the Qrain in sight and the more-ment of BreadatuSs to the latest mail dates

:

KBOBTPTB AT I.A.KB AND RIVER FORTS FOR THK WEBK KNDIKOBBPT. 30, 1876, AND FROM JAN. 1, 1876, TO SEPT. 30, 1876

:

yionr, Wheat, Com, Oots, Barley, Rye,bbls. bneh. bnsh. bnsh. bnsb. buata.

At— (19« lbs.) (60 lb?.) (56 Ihf.) (3S lbs.) (48 lbs.) (66 lbs.)

OhlMKO... .™, 24,795 4^6,005 2,354,749 421,749 196,926 70,303Milwaakee 83,874 416,276 2i,H80 68,590 121,022 10,788Toledo 4.433 355,290 233,670 113,733 1,S0J 1,606Detroit 11,245 251,630 6,24i 89,136 2.',106 119Cl07eland 2.583 14 8)0 8,960 17,100 400

SLLoais 22,97J 306,931 2J!..3i'5 73,605 68,961 13,490Peoria. 8.145 13,160 163,150 117,150 28,230 22,220

Bnlnth 4,6D0 11,009 ....

-rrrotal 115,055 1,798,091 8,020,946 811,066 438,865 118.506

Previouawoek 101.639 1.703,-i52 1,659,111 688.772 310,059 9b,992

Oorre8p'nBweek,'76. 107,.395 2,167,070 l,138,8i3 1,128,446 444,972 85.434•' '74. 140,502 2,611,506 1,149,678 810,132 331,732 54,442

Total Jan. 1 to date.3,822,3C3 37,133.678 62,3.53,139 19,012,693 4,416,003 1,6I9,3MSame time 1^75 3,390..39S 45,.307,583 38,^67,754 18,013,725 2,930,714 2,17S,393

Same time 1874. 4,500,080 6ii,3ii6,676 49,000,1.55 21,16^,323 3,613.0,i6 1,150,800

Same time 1873 4,656.311 48,681,631 62,019,116 23.671,525 4,327,076 1,282,7.3

Total Aag.l todate.. 836,63,' 10,689,540 19,9)3,791 5,255 990 1,446,7(14 651,978Same time 1875 757,479 14.925,775 10,Oi9,235 7,372.356 1,4.35,459 814,086»ametimeI874 960.249 17..14.3,473 10,';O9,490 6,891,068 1,392,973 378,K51

Same time 1873 1,098,646 23,551,659 17,936,421 6,083,581 1,336,332 575,936

Shipments of Flour and Grain from the ports of Chicago,Milwaukee, Toledo, Detroit, Cleveland, St. Louis, Peoria andDaluth for the week ended Sept. 30, and from Jan. 1 to Sept. 30,

inclusive, for four years

:

Flonr, Whpat, Corn, Oats, Barley, Rye,Week

bbls. bush. bush. bush. bush. bush.Sept. 30, 1876 134,047 1,826,375 8,192.534 451,522 179,458 75.3!5Sept. 23, 1876 129,118 1,762,607 1,628,9 i7 539.337 73,244 8.5,100

Cor. week '75 122.036 1,611,662 1,097,613 873,2,52 148,651 8S,->80

Cor. week '74 123 210 1,605,212 720,081 374,569 110,643 30,117Cor. week '73 151,521 1,6(18,594 2,1.!6,116 50:. 1.36 168,921 86,>.02

Cor. week '72 149,317 •.,7J0,868 1,637,42^ 4.9,132 467,834 62,169Cor. week '71 146,754 1,414,300 595,944 331,265 532,083 26,526

Jan.ltoSept. 80, '76.3.146,319 34,908,433 58,430.194 16,157,767 1,710,791 1,381,162Same time 1876 3.72.5.224 68,995,920 34.809,311 13,097,036 1.468,005 651,7408«mBtime 1874 4,313,931 47,237,843 38,036,036 13,139,189 1,729,345 2,(93,933Same time 1873 4,716,654 4J,650,l!i3 39,729,403 11,172,787 2,S07,.J3l j,069,087

BBOBIFTB OF FLOUR AND ORAIN AT SEABOARD FORTS FOB TUBWEEK ENDED SEPT. 30. 1876.

Flonr, Wheat, Com, Oats, Bariey, Rye,At— bbls. bush. bush. bush. hush. bnsh.

Hew York 92,0.54 361,285 683,620 244,059 89,792 69,224Boston .58.0)7 40,151 132,550 104,800 19,100 40uPortland 4,100 40O 5,200

Montreal 31,097 91,869 250,063 30,087 3,000

Philadelphia 8.3,810 108,500 312,000 141.400 6,000

Baltimore 26.026 134,600 416,500 12,300 .... 4,0WMewOrleana 682 .... .... 1,248

Total 836,896 7.36,801 1,799,9.33 53.3,894 67,898 63.624

Prevlonsweek 214,065 679,473 1,835,643 681,207 66,763 67,879or. week '75 203,529 1,052,823 1,072,.;52 702,859 160,457 12,450

Total Jan. 1 to date. 6 917,132 31,4°,9,171 67.191,208 18,445.794 2,976,917 651,009Same time 1876 6,72.5,804 .37.70.),197 40,752,886 13,6-25,631 7.3b,467 2i7,691

Same time 1874 7,822,603 49 216,055 43,249,720 14,780,;9i 885,991 692,751

8ametimel873 6,844,585 32,565,964 38,841,041 17,300,963 1,322,066 887,563

Thb Visible Bopplt of Qrain, comprising the stock in

granary at ct.o principal points of accumulation at lake andseaboard ports, in transit by rail, on the New York canals and onthelakes, Sept. 30,1876:

Wheat, Com, Oats, Barley, Rye,bush, buph. bush. bush. bnsh.

In store at New York 8,084,715 1.124,61.2 7fe6.3S6 60,014 156.969In atore at Albany 24.5)0 38,000 ]9.0:o ... 16,000In store at Buffalo S62,222 4S1,571 41,574 4.3,200 9,8]7In Btore at Chicago 1,185,419 1,745,142 855,*i2 470.559 120,.347

In store at Milwaukee 7;M,145 10,034 125,166 152,731 14,936In store at Dnluth .32,872

In store at Toledo 517,061 412,821 ]50,.566 '1,624 2.863In store at Detroit 816,277 2',584 13,954 l.,593

In store at Oswego* 100,000 66,000 ;8.500 85,OiiO 8.0MIn Btore at St. Louis 310,812 883,948 95,191 82,372 18,722In Btore at Peoria 11,212 117,041 166,481 10,636 111.372In store at IndianapollB 19,996 99.611 15,.38« 6,597In store ai Boston 568,222 431,571 41,674 43,500 9,217In Btore at Toronto 118,625 166,593 650 1,000 179 145In Btore at Montreal 526,961 54II8 120,391 6,813In Btore at Philadelphia 17o.Oi)0 <23,00O 90,000 .... 6,600lustoreat Baltimore 77,382 801.896 48,000 ,.,. s.iOOiJike ehipmrats, week 9^2,676 !,S27,5-il 85,692 73,395 7.3,110Hall shipments, week 461,699 884.960 865,930 101,013 2,235On New York canala 690,t00 1,160,000 ]S,000 89,046 24,493

Total 8,314,415 967.«96 2,556.710 1,176.114 990.726Sept. 23, 1876 8,332,641 7,2S5,014 2,891,HH6 868,910 467,789Sept. 16. 1876 8,294.335 7,556.lill 2,H30349 746,5% 4.10,078

Oct. 2,1875 8,9»7,88J 6,631,881 2,52«,9«9 971,0:7 312,194

* Estimated.

THE DRY aOODS TRADE.FamAT. P. M., Oct. 6, 1876.

Business has been comparatively light the past w-tek with

package houses, and the jobbing trade was much less active than

when last reported upon. The weather has not been coldenongh.

to stimulate a consumptive demand for fall and winter goods,

and until jobbers and retailers have distributed their early pur-

chases, it is probable that there will be a lull in the market, as is

generally the case at this time of year, when Western and South-

ern buyers have returned home, and when it is yet too early to

expect re-orders from them, or much demand from the near-by

trade. In domestic goods, prints and dress fabrics have con-

tinued in brisk demand, and black silks were the most active of

imported textures. About 500 cases Union Mills colored cottons

were disposed of at auction, and brought fair prices, and some1,300 pieces fancy cassimeres were sold in the same manner,

which—although slightly damaged by smoke—brought the full

market rate for sound goods. Values of both domestic andforeign fabrics were firmly maintained, and the supply is morenearly in accordance with the probable demand than for a long

time past.

Domestic Cotton Goods.—The export trade in cotton goods

was more active, and several mills are running on orders lor

future delivery. The shipments of the week reached 1,399

packages, of which 503 packages were sent to Great Britain, 290

to New Granada, 157 to the Argentine Republic, 120 to Mexico,

120 to Brazil, 59 to British West Indies, 42 to Germany, 38 to

Venezuela, and the rest, in smaller lots, to other countries. Brownand bleached cottons were in moderate demand and firm, with

an upward tendency on light three-quarter makes, al)cut the

grade of print cloths. Cotton flannels were in steady request, andlow qualities are in small supply. Colored cottons were gen-

erally quiet, and cheviots have lost much of their late buoyancy.

Corset jeans were moderately dealt in, and small sales of rolled

jaconets and glazed cambrics were made by agents. Print c!oth.s

were inactive but very firm, and, owing to thelight supply, prices

were advanced to 5c. cash to ten days for the best extra 64's, at

which figure these goods pay a handsome profit to manufacturers.

Prints were in good demand and firm, but ginghams were little

wanted aside from a few dress goods styles, which were taken in

small parcels.

Domestic Woolen Goods.—The business of the week in

this department was comparatively light, although there

was a moderate inquiry for le- assortments by early buyers, and a

few orders were placed by clothiers for light-weight cassimeres

and worsted coatings to be delivered hereafter. One of the lead-

ing commission houses closed oat its entire stock of fancy over-

coatings at a concession from former holding rates ; but on terms

which did not transpire. Cassimeres were in fair demand, andthe best makes are steadily held. Cotton warp worsted coatings

were distributed in considerab'e amounts, but the better grades

moved less freely. Cloths and doeskins were in limited demand,and repellents met with liberal sales. Satinets, tweeds and Ken-tucky jeans were lightly dealt in. Linseys were in moderate

request, as were dress plaids. Flannels were taken in small lots

for keeping up assortments, and blankets were in steady moderate

request. Ingrain and tapestry Brussels carpets were (ally active

in jobbers' hands.

FORBIQN Dry Goods —There has been an irregular demandfor foreign goods, but importations continue so light that values

are steadily maintained. Black dress silks were in good demandand are firmly held at the late advance. Mantilla and trimmingvelvets were more active, and ribbons continued in steady request.

Colored cashmeres were in brisk demand, and, being scarce, are

stiffly held at paying prices. Black cashmeres and drap d'ete

were placed in fair amounts, but fancy dress goods moved slowly.

Linen goods and Hamburg embroideries were in fair request, but

white goods ruled quiet. Woolen goods, for men's wear, remained

depressed, and many makes are selling at unremuuerative prices.

Laces and lace goods remained quiet, but there was a fair demandfor hosiery and for kid and fabric gloves.

Wo annex prices of a few articles of domestic manufacture :

Cotton Sail Duck.No. 10 20 I Woodberrr and Ontario

U.S.A. Standard 23Xln.Woodberry and Druid

Mills.No.0 34No,l HiNo.2 31

iJo.3 29

No,4 -27

No.5 86

No.6 25No.7 84No. 8 28No. 9 SI

Cotton sail twine.. 29Light Duck

Greenwood's (7oz.)Ravens 18)i

Greenwood's (8oz.)Ravens 1.3Jf

Bear(Hoz,,29iu.. 14do heavy (9 oz.)... 16Extra heavy bear.

.

18Mout.ltaveu9 291n. 16

do 40in. S3

. S.pz9 OZ10 oz12 OZ16 OZOntario Twls,86iB.do31io.(8oz.exql)Sz twle"Polhem'ii"

Page 23: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

OctobenT, 1876.] THE CHRONICLE 861Iimpurtatlona or Drr Goods.

The importationa ol dry (foodg at this port tot the week endingOct. 5, 1876, and lor the oorrespondint; weeki of 1875 and1874, bare been as follows :

NTIBKD rOB COHSDIIFTION rOB TBI WIBK BNDIle OCT. 5,

Uanafactaree of wool. .

.

do cotton

.

do allk....

do daxIllaceUanaoas dr; goods

Total. ._

. 1874 .

PkgB. Value.815 t3S0,!lll

. 881 ;8i,543

. 880 57«.675878 19il,574

era i60,836

, xmi ,

Pke». Valne.

140,108

9a(,8«l85 00;<

33,8 la

S16535

460Si:

1876.

, 1878 .

Pkira. Valnp.J355,SI0189.2»4i»,739171.000iai,495

960B7653«

392

4,1S2 J1,M7,469 3,130 »72!»,341 3,458 J1,31:J,559

WITHUaiWH rBOII WABSaoUSB ABD TUKOWN IHTO TBI MABKBT ODBINS TBIaAHl FIBIOD,

Hanafactaiea of wooldo cotton..do ailkdo flax

HlaeallaQeooa dr; gooda.

9083)9

4)2487

$Jfiu,8!)0

89, -8878,4*3«8,li!0

t64>,4»lI,547,4'i9

450193101481851

1,479

3,130

t]8),3n6I.«098,41187,30644.153

$414,6767i9,8ll

»219384

30624SJ

1,3J5

3,488

tl78.-2l957,0108i>,983

59,Jt09

43,629

1419.186l,J43,6ti9

Ti, ^^f"*":*" "' »',e*««u» Ariieleairuui mew *orli.ibe (oliowing table, oompllej from Ctutom UoaaereSorna8how8 the exports of leadingr articles from the port of NewYork since Jan. 1, 1878, to all the principal forelen coantriesand also the totals for the last week, and since Jan. 1. Thelast two lines show <o<at"i>aiu«»,includinfc the value of all otherarticles besides those niPntloned In th« table

3 agl-.2.5«-3"°.«,<-.53Js2=ssSrc«S5°?2?;37;3r:3g.§U3 S

ToUl 8,101&ddent'4foreonaampt'D 4,182

ToUl thrown npon m'k't. e,2S6 $2,139,961 8,60? $1,193,917 4,813 $1,662,735

BHTBRBD rOB WABBBODSIMS oaBIMB SAMB PBBIOD,Mtdafactoree of wool 38^ $164,737

do cotton.. 205 61.046

do allk 10) 103,2^4

do flax 538 119.7»6Hlaceilaneona dry gooda.. 36 18,145

ToUl 1,25* $471,878Mdeat'drorconaamptn 4,132 1.547,469

3;617394

8!715

$154,5505s!,4(i6

101,7:308, •;4*

6,260

31416483

SOi59

$;20,2J9.W,79885,76541,921

n,2jo

975 $.381,351

8,130 729,341809 1305,003

3,4S8 l,au,569

t

ToUl entered ai tbe port. 5,376 $3,019,347 3,103 $1,110,692 4,297 $1,548,572

Imports or LeadlnK Articles,

The following table, compiled from Custom House returns,shows the foreign Imports of leading articles at this port sinceJan, 1, 187Q, and for llxe same period in 1873 :

[The qaaotity la given In packages when not otherwise apecifled,]

Since SameJan.1,'76 time 1875

China, Qlass and .Wetals. Ac-Barthenware—

13.931 11,158Cutlery

China HardwareEarthenware. . 17,29! 2S.602 Iron, RR. bars...Glass 81I,.J37 318 07h Lead, pigs

Spelter, lbsGlassware 21,145 2(,S9?Glass plate 7,107 7,665 Steel

4,lti3

43,5355,914

37,681Tlu, boxesTin slabs, lbs...Coal, tons

Oocoa, l)a»8.

.

al.0.13 l!),sll RagsCoffee, bagaCotton, bales

1,0J9,S!)8 1.33:j,3l)',) Sugar, hhds, tcs. &i,:'-6i 3,1)98 bbls

Drugs, Ac-Bark, Peruvian.. 26,503 23.416

Sugar, bxe Abacs.Tea

Blea. powders... 20,65^ 21,601

Cochineal 3,230 4,617 Waste. . .

'Cream Tartar... 366 517 Wines, Ac-QambietQum, Arabic

88.6363,M7

10.1793,713

Champagne, bke.Wines..: ..

Indigo a. 651 2871 Wool, balesHadderOils, essential..

1,C12 1,186835

ArtUka reported byvalue —

Oil, Olive 81.767 29,««) CigarsOpium 9,3 781 CiirkeSoda, bl-caib.... 88.0)1 17.91W Fancy goodsSoda, sal 88,427 4rJ 1)43 Pish.Soda ash i%.Oi-. 45.512 Fruits, Ac—

Flax 3,S8l 6,S88 Lemona .. .

Fura 4,6S» 6,919 OrangesNutsQannv cloth 1,3.7 I,42o

Hair 2.184 3,;*i Raisins... .

Hemp, balea 95.8S9 90.735 HIdea. undressed..Hides, Ac— RiceBristles i,«;8 1,282 Spices, Ac.

Hides, dressed.. 8,707 5,011 CaaaiaIndlarabber 82,208 3I,»73 Ginger.Ivory 1,831 2,477 PepperJewelry, Ac-

8,124 2,555Saltpetre

Jewelry Wooda—Watches 439 59! Cork

Unseed 431.8-0 726,574 FuaticMolaaaea 92,-W 95,333 Logwood

Mahogany

:rr!»r*Q •-?•*««*• cj o> •* — t- -5

- - S - " - s-r., «g g.|•«r

• ?2 ;«s '' ^w \^ ^^

r _no

^ cs-^aiisV •

nm-v . . :Ss

v

:S2a52

5G •2XJG2!S^'tO'^!0«^t-

T.Si•r. fr.

;i:§SS:gj ::;:::: : j:gS|:||

3 Z%

Receipts of Domestic Produce.The receipts of domestic produce since Jan. 1, 1878, and for the

flame time in 1875, have been as follows :

Ashes pkgeBreadstuff's

bblsbash.

Flour.Wheat.CornOatsRyeBarley and malt.Grass seed.bavs.Beans bbls.Peas bo>h.C. meal bbls.

Cotton .

BempHides....Bops.. .

Leather.MolassesMolasses.

.

Naval Stores

Cr. turp. .bbls.Spirits tnrpen...RosinTar

bales.bales.

...No..belea.sides,.hhds.bbls.

SinceJan.1,'76.

4,610

2,91.3.3:6

19,531.764

!9.^5-,2i9,l.8^4M

tO.i.i.hO

2,826, •>'f

»),7i87),4.).-i

83i,N61114,9i:

5a7,(Xi5'^.399

3,003, r«n,'>89

2,09^,348.3«l

40,17:

2,93»,

60,6093.)5,(i7ii

__15,S45J

Sametime 1675

6,138

2,64I,roi22.266,81';

;S,M!.i«;V,!l7.i,994

126,510l,6;.3,b;0

Sf.rtlli5,9t«

25I.9;8'

»9,i).SI

4i/,l(i;

a,s5:

2.li<i.i(in

li,-36;

2,998.6121,9-,5|

22,873

6,&3.i

51,01^1

401.ti*)

21,414

PitchOilcake pkgsOil, lard.... .. .

Peanuts bagsPruvislnns

Itutter ... .pkgg,CheeseOutmeataKggaPorkBeefLardLard..

RiceStarch...StearineSugar bbla.Sugar hhda.Tallow ...pkga.r.'jbaccoTobacco hhrts.Wnlskcy bbls.Wool baloa.Dressed Hol'S . . No.

kegs,.pkgs.

2 : : : : £3 fS« 85

: :S2S : :S :s!s|p'- ?S

; : :8 :s : : : ;S :S :S3

9r,1.243.

1.6J8.40I

881,851453,731123.633'

71,8f)

260.36716,2911

29,875;

284,901

18,83121

S.78I47.052

176,0)71fln,0i4

101. 156,

6-:.i^9l

35,513

736.6011,780,861245.2fi4

34S.315117,111:».172

2(i8,2«ll,1!3

16.8M268.5:01.5.751

67,9851-1.863

1I.75S

143 77939.3 i.1

1..3,1 11

6(,'J<0

46,82}

a ••••.••••:•:.:: -s •• ••-

ilHHnriMifinfiiifiPiiilJiiisllililiiliilii:;!!-.^•a

s

"i f£-?-S

d

Page 24: October 7, 1876, Vol. 23, No. 589 - FRASER · 2018. 11. 6. · kmm HUNT'SMERCHANTS'MAGAZINE, REPRESENTINGTHEINDUSTRIALANDCOMMERCIALINTERESTSOFTHEUNITEDSTATES. VOL.23. SATURDAY,OCTOBER

362 THE CHRONIOLR [October 7, 1876.

UENERALPRICES CURKENT.

&SHES—Pot V t> a 5

BBBAOSTDFF8—See special report.BUILDING MATEUIALB—J!r(ct«—Common bard, afloat. .IP M 4 00 » 5 50Croton 9 DO a !1 00Pbllailelphla faclnf; 2i I'O a so 00

OemeW— 1{ >8enaale ¥ bUl. 1 20 aX<m«—[iocklaQil, common # bbl. 85 ^Kockland, tlalrlilDg a 1 85

i«m6«r—SoQthera pTne..li M le.et. 20 JU ® aa 00White pine box lioarde 15 OS a 18 00White pine mercban. box boards, li 00 a "1 00Clearolne 4i> 00 a 55 00Oakatd ash 40 00 ® 45 00Biacls WHlnat 10 00 @ 75 00Sprnce boards^ Planks 18 00 a H 00Hemlock boards & planks 14 00 a 18 00

JFa««—:oa«Od.conn,fen.* sh.V keg .... a S 10ClInch.lH to SIn.&longer 4 60 a 5 35Sdllna a 5 35Cntsplkes.alUlzes a 3 3^

iWi«»-Ld.,wh.Ani,nare. Inoll Vik ICXa lOKLead,wa.,Amer., pure dry y « 9J<Zinc, wh.,Amer. dry. No. 1 6^9 7KSIncwh.. Atiier.,No.I,InolI llxa I*ParUwhlto. Bn,j, prime sroldK(100B> 165 a 130

BOTTBR— (Wholesale Prices)—Pails. State, fair to prime *> B. 23 a 34Western cream'ery, fr. to p'me. " l!fi a 31H'l flrk..tabs,state. I'r to prime " 25 a 3SWelsh tubs, com. to selected... " 23 a 3i

CHEKSK-State factory, fair to choice ^fllk 9 a 12VWe8tern,gooa to prime **

9>^a li'X

COAL—Liverpool gar cannel 10 OOa 11 00Itlverpoolhoasccannel 15 009 47 00

AN'iHSACiTK—Prices at last Auction, or by 0-toberschedule :

Petin. D.L.&W. D.&H. T. HV.. L. 4 W.Newb'gh. Hobok'n. Kondout. Phila. Pt. Joh'n

Anc, Fept,20. Sept. 27. Sept. 28. Schcd. Schea'le2o7-31li 3 K-3 15 3 20 3 25-100

2 67 3 17-i25 8 71-4 70 3 50-3 603 15-3 30 3 27-3 30 3 20-1 10 3 50-3 GOaW'-iai 410-415 S 70-4 70 4 Ot-J 2)320-332 320-310 3 30-3 51,

15!!.'8

i7va18J<»is^a21 a:6i<s15K*16M*15 |3

15xe16 a

20>ia

2Va16 az'> asy.a....3141.;3

Pte'nib. 2 »J 3 02Grate.. 2!)0-Sl2Kgg ... 312Stove.. 8 60-3 75

CU'nut. 3 17-3 30

ttlo, ord.car. 60and9;days.;ld.$Ibdo fair, do goitt. •

do good, do gold. "

do prime, do gold. "Java, mats gold. '*

native Coyion gold. "Uaracaibo gold. "Laguayra goid "St. uoraingo gold. "Savacilla gold. "Costa Rica gold. "

OOPPBK—Bolts ¥1 D.Sheathing, new (overlS oz)BraslerB*(over 16 oz.)American Ingot, LakeCOTTON—dee special report.

SBDOS A DYK8—Alum, lump. Am 9 n.Argols,crude gold.Argots,refined "Arsenic, powdered •'

Bicarb, sod a, Newcastle. fl 1001b "Blcbro. potash ^ft cur.Bleaching powder V KO lb.

••

Brimstone,crude, per ton gold.Brimstone, Am. roll «iA..cur.Camphor refined *•

Caatoroll.B.I.lnbond. VsaL.gold.Caustic soda S 100 » ••

Chlorate potash ^Tb •*

Cochineal, Honduras **

Cochineal , Mexican '*

Cream tartar, prime Am. & Fr. •'

Sabebs, Bast India ...cur.Catch gold.Oambler "Slnseng cur.Glycerine, American pure "Jalap "Licorice paste, Calabria "

, Licorice paste, Sicily *'

' Llcorlcepaste. Spanish, solid. . .goldMadder, Dutch "Madder, French "NutgallB.blue Aleppo cnr.OH vitriol (66 Brimstone) *'

Opium, Turkey (in bond), geld. 5 Ou aPrusslate potash, yellow. Am. .cur. 2"?

§ulck8Hver gold,ulnlne cur.hubarb, China,good to pr.... "

Sal soda, Newcastle..* 100 », goldIiShell Lac... * lb. cnr.Soda ash * 100 lb. goldSugar of lead, white, prime,^Ibcur,Vitriol, blue.common "

FLAX—Nortb River, prime V a

WaoiT—"^^BaUlna.Sasaieas per DOlb.frail

;o

18

18K192:1

IS

:s

17H15«1619

S33132

205^

n2S«4

4 12K'is

4 411 am-iMXali a30 e8Ha5 a....a

1 n a18 a17 a30 a

a

aa

i^a

a;70

4 62 K2165

SV

'nk1 .'5

19

19

362830

17

2

a2 43 a1 o:i a1 42X3so a

1 90 a... a7ya

17 a

522 47H1731 FO

46

a 06X19

4 ?0do Layer, new 3 10

4 90

!30 a12 ai(i><a

....a

E«a6 a">;<•15 a

rso a:4

' ; 4o Loose Muscatel, newdo Snltana, new perlb.io Valencia, newCurrants, newCitron, Leghorn (new)Franet, Tnrklsb

do French..DweaFigs,lay'!r ..

Canton Dinger V case.Sardines,* hi. boxSardines, «• ar boxMacaroni, Italian * lb

Domestic Brled~Aoples, Southern, sliced, new ..*ilb

do do quarters,"do State, sliced .

io do quartersPeaches,pared.Oa. pr. andcb.(new)do anpared, halvesand qrs,....

BlackberriesBaspberrlesCherriesPlamt, State and SouthnsH—George's and Grand Bank cod,pcwtMackerel,No.l,M.shore(new)pr.bbl 15 00 a 13 OJMackerel, No. 1, Hay,. None.Mackerel, No.2. Mass.shore (new). SCO a 10 00Mackerel, No. 2, Bay None.

BDNN^KB.—Dee report under Cotton.

5 aJ 37i<au as a7xa

25 a16 a12 a

2 6012 HlUK6!<

22«

15

17"'

7 6J20MH«14

271715

Store Prtcea.00 a 6 00

GUNPOWDEK-BLiSTING FOB 8AILBOADS, &C.

Sola, any size grain, ID 2S1b kegs |2 90Saltpetre do do 3 40

SPOBTINO.Electric, Nob. 1 to 5 grain. In 1 B eq. cans 1 03Ulamond grain, la IB cans 1 03Orange llghtiilug,N 08. 1 to 7. In IB cans 1 113

Superfine eajjle sporting, in IB oval cans 73American sporting, In IB oval cans 73Orangeducking, Nos.I to5, In iBcans 73Ouck Shooting, Ncs. 1 to 5,ln 6-^B kegs 8 61Eagle duck shooting. Nas. i to 3, In 6)4 B kegs 3 tfl

Orange ducking. Nos. lto5.1n6!4 B.kegs... 3 61Eagle duck snooting, Noi. 1 to 3. U^B kegs, 7 21Duck Shooting, Nos. I to 5 gr., 12XBS 7 21Hazard'^ Kentucky r.fle. In '.vallBcans 4Suupont's rllte Fg, PhV, FFFg. IB cans 48Dupont's liBe, FKg, Ft'Fg, 6k»s 1 61Hazard's Kentuckv rifle. FFFg, FFg, and SeaShoot ng Fg. 6XB kegs 161

Dupont'» rifle, FFg, FFFg, liUa ksgs 2 96Hazard's Ke itucky rifle, FFFg. FFg, and SeaShooting Fg, rJXB keis 2 96

Orange r.tte, Fg, FFg, FFFg. 25B kercs 5 40Hazard's Kentucky rifle, Fg, FFg, FFFg, 25B

kegs 5 40Dupont's rifle In aSB kegs 5 40

HAY—North River BhlDP'ng V lOU lb ,...a 60

HSMP AND J U IE-American dressed Vton. 210 M) a243 00Amerlcai. undressed 135 00 ®u>f 00Russia, clean gold. 22000 32'.'5 00Italian '• 290 00 ib.275 00Manila VBSisal ••

.Jute *'

HIDE8-2>rB—Buenos Ayres,Belected.$BgoldMontevideo,Corrlentes,Rio Grande,Orinoco,California,Matam. andMex.Maracalbo,Bahla,

do.,do....do....do....do....do ..

do....as tbey run

'Xit

S»a

19 a19 aIS ai7;i»13

17s®i3Ha13 aiiM»....«11 a....a

V19K

i8>i18

is"16

13)412

12

Dry iSalfed—Maracalbo, do.

.

Chill, io....Pernambueo do....BavanlUa, do....Bahla, do " ^

ITeiSoKed—Bnen. Ay,selected '• a 9Para, do..,. ' 7 a 7California, do.... " 8X8 9

Texas. do cur. 8>ia H:it. /.sloct—Calcutta Hlanght... gold 13 a 14Calcutta, dead green " .a 11

Calcutta bnflTalo " 85iaIROft--Plg, American, No. 1 ¥> ton. 22 00 a ..

Pig, American, t.o. 2 20 00 a ....Pig, American, Forge 19 00 a ...

Pig, ScotCD 26 00 a 28 50Siore Prices,

Bar, Swedes,ordlnary8tzes..V ton. ISO 00 aScroll 70 00 @120 10Hoop 75 00 aiSO 00Sheet, Ku?sla. as to assort. .gold *>B llj<a 12Sheet. single, douhletb treiile, com a 4

Rails, Amur., at Works In Pa.. .car a 41 roSteel rails 55 00 a 56 OU

LBAD—Ordinary foreign V lOOlbs, gold 6 15

Domestic cur.Bar (discount. 10 p. c.) * B.Sheet " "

LBATHER-Uemlock.Bnen, A'res,li.,m.&I.^B.

" California, b., m. & 1

** common Hide, h., m. &1" rough

Slaughter cropOak. roughTexas, crop

MOLASSES—Cuba, clayed W gal.Cuba, Mus., refining grades.. "

do do grocery grades. "Barbadoes "Demerara "Porto Rico "N. O.. C3m. to i-rlme "

NAVAL STORES—Tar, Washington * bb).

Tar, Wilmington "Pitch, city..

•'

Spirits turpentine V gal.Rosin, strained to good 8trd.fi bbl.

'• low No. 1 to good No. 1 "•• low No. 2 to good No. 2 '*

•• low pale to extra pale.. "'• wlodowglass "

OAKCM-Navy.U.S. Navy & best » B

.

OILS—Cotton seed, crude %l gal.Olive, in casks «i gall *•

Linseed, casks and bbis "Menhaden.prlme crude L.I.8. *•

Neatsloot "Whale, bleached winter **

Whale, Northern "Sperm, crude "Bperm, bleached winter "Lard oil. prime winter "

OIL CAKE—City, bag goldWestern cnr.

PETBOLEnM-Crude, In bulk * g.il.

Cases "Refined, standard white "Naphtha, City, bbls "

PROVISIONS-Pork, mess W bbl.Pork, extra prime "Pork, prime mess "Beet, plain mess, new "Beef, extra mesp." " "Beef hains, Wes'ern '*

Bacon, City long clear.... V BHams. smoked "Lard, City steam, "

BtCE-Carol Ins, fair to choice ^ B.Louisiana. lair to prime .. "RaugooD.new.in boua,gold.¥ 100 B.Patna, good ^ B.

SALT-Turks Island Vbnsh.St. Martin'sLlvnrnooi .various sbrti V sack.

SALTPETRE- •

Refined, pure VBCrude goldNltratesoda perlOOlb. »

6 51 a8X«10 a

19 a19 ai^'xa24 a30 a24 a

2 50 a2 50 «2 12X»

84 a1 90 a2 35 a2 05 d3 00 a5 00 a

312423253227Ii2

334!4'>

45

5554

1 95

2 70

2 304 SO

8X» lOX

1 15523575655'l

1 27

"93

42K12004

36I 106760

1 »>'. 6095

S9 00a ss 00a ....

14 a.. .a26 «>

14 a

8 0010 0021 CO

a 13 95

a ....

a ....

a 10 00a 11 00

24 009Ka

lu^'a15

.«Jif» 7

iii9 6

....a 2 1?

7X® ....

26 a 3023 a 30

I 15 a 3 50

....a 12Ki^a 5

1 00 a 3 12X

SILS-Tsatlee.Nos.l &3 D BTsatlee, re-reeled, mid. and best. .

.

Taysaam.No. 1

Canton. re-reeled, No. l&2Cotngoun

8PBLTEH—Foreign 100 B.gold.Domestic, common cnr.

SPICKS—Pepper, Batavla ^ B.golddo Singaporedo white

,

Cassia, China Llgneado Batavla

Ginger, Africando LalcuttaMace.Nutmegs, Batavla and PenangPimento, JamaicaClovesdo stems

SPIRITS—Brandy, foreign brands V gall.Rum—Jam. ,4th proof ••

St. Croix, 3d proof ..."

Gin ••

DomesticUQHors~C&%h

.

Alcohol (90 per ct) V gall.Whiskey

STEEL—English, cast,2d*lst quality ^BgoldEnglish, sprlng,2d & 1st quality.. ••

English blister, 2d &1 St quality.. "

En^rllBli machinery "

English German, 2d ^ 1st quality "

American blister cnr.American cast. ToolAmerican cap.t springAmerican machineryAmerl can (rertnan spring

8 50 a» CO a 8 six

None.7 25 a 7 SO

7 006 73

a 7 13X

....ait @ii a13 a7Ha6xa

85 a35 av2xa39 a14 a

142323207K7iS83133]15 '

. gold. 1

8 50 a 15 003 «5 a 7 003 45 a 3 65

3 00 a 825

2 19 a1 13 a 1 12Hstore Prices.

14H(» 16

6Ha9 a9H®loxa

aa«

SCGAR-OuOa.inl.tocom.reCr'ng ....» B,

10 fair refining '•

do f^ood refiniug "do prime, refining "do talr to choice grocery.... *•

do centr.hhds.* bxs, Nos. 8®18Moiacses, hhds & bxs .VBMeladoaav'a,Box,D. S. No8.7®9do do do 10ai2do do do 1S®15do do do 16aierto do do n&iudo do white

Porto Rico. refining, com. to prime,do grocery, fair to cnolt*...

Brazll,bag8,D.S.No8. 9ailJava, do. D.S., Nos. 108.13Manila. PuperJor to ex. supN. O.. refined to grocery grades.^,,.ReAned—H&rd, crushedHard, nowdere.*:do granulateddo cut loat

Soft white, A. standartt centrif...do di> olf AWhite extra CYellow do «...

Other Yellow

TALLOW—Prtmeolty,Western

8 a9va9 a9Ka8Ma9!»®7>ia

.V B.

3«(a

loxa

10 asxa9>ta7»a8Ka75.'a....a11 aloxaloyaiixa

11 'xa9Ka9 a

e%S

TEA—Hyson, Common to fair cut.¥*b

do Superior to file

do Extra fine to finest

do ChoicestYoung Hyson, Con., to fair

do Super. to fluedo Bx.Qneto finest

do ChoicestQnnpowder, com to fair

do Sup. to fine

do Ex. fine to finestdo Choicest

Imperial. Com. to fair "....

(.0 Sun. to fine

rto RxtraflnetoflnestPyson Skin . * Twan . . com. to fair.

do do Snp.to finerto do Ex finetofinest

Uncolored Japan, Cow. to talrCO Sup'rtoflnedo Kx. fine to finest

Oolong, Common to tair,M«.do Superior tofinedo Kx flneto finestdo Choicest

Bouc* Cong..Com. to fairdo Snp'rto finedo Bz. finetofinest

TIN—Banca gold.^BStraits "English, refined

*'

Plates, 1. C.charcoal lCxl4 * bx g'dPlates,char. terne

TOBACCO-,Kentucky lugs, heavy vB

leaf, "Seed leaf—New Eng.wrapper8'7f-'74" do fillers, ^f-'74.

Pennsylvania assorted Ion. '7S-'74..

Havana, com. to fine

Manufac'd,ln bond, black work" " bright work

WOOL- ^^American XX *»American, Not. 1 & 2American, CombingExtra, polledNe.t. PulledCalifornia. Spring Clip-Superior, unwashedMediumCoarseBnrry

South Am. Merlnc, unwashedCape Good Hope, unwashedTexas, fine. EasternTexas, medium. EasternSmyrna, nnwashedZINC—Sheet V B, gold, net

23 «34 a42 a55 @S4 <e>

30 a47 a75 @28 a40 a57 a80 a23 a32 a45 a1922

if"lox

9i(910

ea

i^

luX11

IIX«J«95i8

10«

lOKlOX109X

«x

sol»5270264262

1 COS74772

1 052S33552121

Nominal.IS26(023SO425^202345

33S5«U2737

?82537«

19V19 a17X316\«

5 75 a« sixa 6 75

6 12«

7Ka•xa

i(< a5 a11 «•S8 a15 a24 a

34 a79 a44 a34 a'32 a23 a20 a16 a12xa27 a29 a2.1 a23 a15 «

9ID35«18

1 202SS5

45S»50402«

28231815SO3S282616

FREIGHTS—To LIVBBPOOI.

:

Cotton V a.Flour » bbl.Heavy goods . . * ton

.

on..... * tun.Corn,b'lk& bgs. «t Im.Wheat, biilKA bags..Beef * tee.Pork »bbl.

.— STSAH. .

8. d. «. d..... a 11-333 a 3 3

35 S5U10 a4o

^,^8.....

8>iS....5 6 a 6

4 3 3 4 6

EX» SS, SAIL.—

»

». d. s. d.9-32a 5-162 0» ....

21 9a 27 6

....a ...

;xss ....

7X« ........a .... I