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The sun. [volume] (New York [N.Y.]) 1833-1916, March 02, 1891, Image 7

Image and text provided by The New York Public Library, Astor, Lenox and Tilden Foundation

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83030272/1891-03-02/ed-1/seq-7/

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THE ttUJN MONDAY MAKUlt 1891 e f
h
s
urIC Jt1E1IYM nr EOND01t
Unl dlloulon I 1 ttolnc em IB I Kailand
lib rstard to ftis Irnafllctsnoy of the euh r i
arrsli l < l br the treat London joint stock I
banks Mr Goashn tl British ChanoUor ot I
ttExoh anr In a spocok which bl mal at i
raids about a month o called atUntlonto
Jld that tbM atttntloM habitually oarrr
lbs fat 1 tat tbllnUtutou hbltual carn
In led cash only about 10 pr cntot tbIr I
ilibllltlM that ot this amount tbl
fIbIIItteB and tll greater
lblts ot In tbl Bank
Mrtion Is In the shap dDolhln
> England asalntt which tat bank
miTtr at any thus Itielt hold a ri rs
of e more than IS pr e nt In Iold HI
further pointed out that whn Ittt I NoTmb
Onanolal mbarrasimant of the Bar
the IDanolal
Ion WM wad known nothlnK but the
ouraetous aotlon of the I aovernor of tho Bank
If England prevented a financial crash Br
rollilBiz to the support ot the totterinc firm lbs
athtT great London banking bonus and br
borrowlnir from the Bank of Franoe 3000000
h coM theta e ntlmen maintained public
enfldones and averted a panic but a Mr
Octchen well observed It U unwlso to be
always jpoiid to Inca a peril He proposed
therelore Orel that the London joint stock
terOte be to publish weekly
banks ibould b required publlh wekl
iUtsment of their condition I the Bank of
acIn does and second that 11 notes
Jslld 10 take the place ot the cold soter I
In circulation and thus permit a
sites cw I clroulatoD ad permi
crtittrcoldreierv o to b accumulated In the
wsluet the bank
Inthi course of thl dlsanulon ot Mr Qos
te propositions torn facts have been
ferottlit Into prominence which are welt
worthy ot attention her In New York One ot
bam I the enormous amount of hi buslaasa
done br the London joint stock bank relatlve
tr I to their capital and the amallneaa of their
amber compared with that of similar Institu I
tions I New York The London Economist
UbnUtes some lauraa taken from the official
reports of seventeen London jelnt stock banks
which show that In the asirreaat they have
and surplus ot 150000000 deposits
a capital ad surplu SGOOO dpollt
ii IW50000000 and loan and discounts ot
t7M000CMXX This leaves them a appar
ent reserve of tl50000000 but ot this
mm 1200000000 consists of GOVernment
and India Ita oks 1135000000 of money
lent on call aud only 1135000000 or
10t lat quite 12 per cent ot their deposit ot
rid cash This cash moreover being al
mwt entirely deposited I the Bank of Eng
land the inability ot that Institution In case of
to It In lull on demand would practi
a run pay I I lul demad praU
otl7 bankrupt all London Oar ninety odd
banks have among tem kn aaitregat capital
and surplus of say IUO000000 which I an t
A of less than 11608000 apiece against one
of nearly 19000000 for the seventeen London
banks while tholr deposits have never much
exceeded 1450000000 or a average ot 15000
000 against ono of 100000000 In London On
the other band our banks habitually carry a
reserve against their deposits of more than
2 per cent nnd thin Is I not a mel paper credit
on the books of other Institutions but specie
and legal tender notes
While therefore tho New York banks cannot
shows so magnificent an array ot figures I
their London piston they are clearly In a
mimi ptronger ro > ltlon Moreover the enor
mous business dune IT the London banks Is
If s < remunerative than that of the New York
NnkK Tie most successful of them accord
ing to tlm statistics presented by the Economist I
Imrely onrn 2 1 IOr cent per annum upon the
niopfy > they orailoy and some of them not
UK ro than 11r cent the average being about
I r Icnt This Is partly owing to the
rr nt lbl pnrlv OWIDI prac
tice nf showing intrrust on deposits but chiefly
to tin low luteS for money which prevail In
London us compared with this city Ot
olion lS wlb cty course
t Ie oxoolieoi of seventeen bunks are less than
tan
tlione ol nlnotr hut the earnings being less
tln lor i rentit e of net profits is less also
Thiisialitllcflo thoKwiomiilsbow further
Low In advanced state of civilization credit
lakes the i > lncc < of rash The very fact perilous
Rq It is seen to be when credit collapses that
FO hue a fabions Il0500j0000 of deposits
ran bo reared upon less tban 125000000 of re
tle In cold demonstrates the general sound
tiea or bnmnosR In London and the confl
i cure which tlonlors there have In each other I
For us oc < n < Innnl periods distrust cause
creilit to shrluk and bring on financial panics
n > I habitual eusplclonot the solvency of ones
follow citizens prevents its ever expanding
That men In London do so largo a business as
tin statistics Indicate with so little real
liioney Is the highest possible evidence
cI f their mcrcnntllo Integrity It also
aso
refutes mi st thoroughly the popular
elusion that nn abundant supply of
01 currency Is Indispensable to business pros
wily The Ilnuk of England a we have
seen carries the bulk of the reserve held bJ
the London joint st ck banks against their
deposits nf 1050000000 Besides this it bos
other deposits to the amount of not less tban
75000 000 and circulating notes payable on
demand amounting to 1200000000 Its entire
lock of coM wlilih Is practically all the gold
In London ex et what people have In their
fet or In their money drawers Is seldom
more than U25000000 which II but little
more than ibe total reserve ot the New York
banks and only about 9 per cent of the 1325
000000 of Its own liabilities combined with
those of the other banks which rely upon I for
help In case of need
Still credit Iso l plant of slow growth and I
no less delicate tban It la useful The
cart which Imagination clays in creating
aud suftuiulni it is also very important
The venerable story of the Frenchman who
rushed to his bank during a panto to
draw out his deposit and when he got It put
It back Aain with the remark U it what he
wanted WW not cash but eegrrkAnd eon
nance will noverlose Its IntrotrloL Con
fldnnce In the Integrity and solvency of those
with whom wo doat Is like faith In the doctilres
o religion 1 makes the unseen real and
KlussjbsUnceto the visions of hope Like
faith too I is t 1 product of complicated
wencles and I confirmed or destroyed by ap
parently triflal things In certain conjunctures
It may b prostrated by mer Whlprd ru
mors and it Is I maintained only by the main
tenance of customary form and usages
An Illustration of this potbuoy of the Imagi
nation In preserving general financial confi
dence and thus Indirectly in promoting credit
wtwean Individuals Is furnished by the Im
Mrtance which Mr Goschen conforming to
we common trejudlce of the London public
attaches to the told reserve In the Bank of
England and by his proposition indirectly to
ccmpol the other London joint tool banks to
P a rcsorvo of the same kind It is well
wel
toown that when the cold in the lank of End
laud decreases tho rate of interest goes up
and when It Increases tha rate goes down
The scientific explnnatlon of tho fact is that an
inerrMo of cold In the bank Indicates a de
creased aemand for money nnd a decrease of
told an Increased iloranml It Is like the mer
tury > In I thermometer which by Us expansion
ana contraction shows tho chances of temper
wo lltiKp tin London public looks at the
sold reietvant tho flunk of England to learn
the
estate of the money market as It would at
atnermomotortoillioor the temperature of
lbs t atmosphere Now just as people who use
wwmoinetors may powellmes bo mado to feel
arm mmely by warmlni the mercury or cool
tr r Putting I lump of Ice on It so the governors
of
tjie Bank J of f lintlaud sometimes play a
inillnr trlol on tho flnnnelal world They did
tir example Inkt Xovomlor whon they bor
olomlol
r005d > tlw tsniuioo l in col from the hank of
asee and iitteol < l It In their own vaults The
Uo this mm would hard pervsd In case of a
Iaalo for lIruhiiatl 11 the hundreds of mllllonrt
w wunds sterling owed by the JStink of Eng
1td sod by I the other London banks cud bank
° I houses to say nothlnir of the debts of mer
tba0ta I would have been too trifling to be mon
honed
oid but the foot that It was known to b
there and Its indication of
< le nccpptnnco as a Jnllcotlon
ICrraf11
aorrrR us rUI IB I tiwfjpplyof mODe quIeted
PIJbuu hl nuU tItus prevented Us uselras
5ea4
rolu IeJng iieutiittriitcd
lol ulJILttlcl
IOlflWlflj K aiirrronllr tln provlnlons of the
i Iwue aUou1 lunl net our vf Y trk Jloarlnc
ou Anniiniiuii uijMlr I I 1 01 tiio louts
eompMlut It t keep en hand a reerr In law
fit money eaual to 2 per ClOt ot its liabilities
to Ita depositors Aa a matter et fat moat of
them usually keep a surplus ahoy this
amount and our public watches the Increase
and Uecrens of this surplus reeerr u bt
London nubIle doe the stock ot told la the
Bank ot England Whit It la lam It produces
a feeling ot comfort and the price ot stocks so
up When I Is I small and especially when the
requIred S5 per cent Is Impaired people are de
presfed and te price of stock tall The
result II I that when our banks hold a reserve
of less than 95 per cent our market Is I on the
verge ot a pinto whereas In London the bank I
habitually carry only about 10 per cent and BO
body caret I Nothlnn could more significantly
demon ttrateth effect which habit has upon the
mind A reserve of US or even 80 per cent would
be as Impotent to prevent universal bankrupt
ey If a universal liquidation of debt were In
slated upon all at one as would a resin o
10 per cent A mal can b aa effectually
drowned la water seven ret deep A he can In
midocean Yet we feel sat when our bank
reservas stand at 35 per cent safer when they
stand at 80 per cent and t uncomfortable
When they tall to 34 par cent I
All this goes to show not that bank reserve
II I useless or undesirable but that a more ef
fectual means of protecting credit and pre
venting panics Is the cultivation ot general
confidence by adherence to sound business
principles I every merchant manufacturer
and banker could be assured that those to
whom hi was asked to give credit thoroughly
deserved It business could b carried on with
no more money than that needed t adjust bal
ances There would b no panic for there
would never be any failures to meet obliga
tions Bank reserves are only an Insurance
fund against dishonesty and Incompetence
and a these decrease the amount of the fund
needed to protect the public against the mis
chiefs they occasion decreases likewise
HTTHBW MAMHILU
Omr tke BesrtiMU f Ueaskera Prs
Verity
rrtmJcHnA JfamiMm r 1 rai tftHmon WtMi 1 tour
No one appreciates biter thanth managers
or Southern railroads the lat advantages to
b obtained In making connections and eiten
sions t secure the traffic which has grown to
immense proportions In the South Ballroad
facilities have been InadeQuate In proportion
t the business which the wonderful growth
of this section has produced and consequently
the new railroads which have been built In
producing sections and where advantageous
connection have been mad have been an
rally successful As In all enterprises thar I
r croakers who predict disaster 1 WI have
heard the expression that there II too much
railroad building at the South This Is not
our opinion ot the situation Oq the contrary
we bold that the march ot progress baa just
commenced Uo to the past four years the
Southern people have been chiefly consumers
depending mainly upon other sections for sup
plies What raw material was produced was
sent away for manufacture and even bread
stuffs and provisions were purchased at the
North and West Now tbe staple products
cotton and Iron are to a large extent manu
factured at home and steam engines oars
agricultural Implements and many other
products are turned out and find a horn
marker During the year 1890 the assessed
valuations of property at the South Increased
t270000000 and there were 104 new national
with tlOJU379S capital established
banks wih SO2793 caDlal latablshed
The total value of foreign Imports from South
ern ports increased during 1890 24141100
five times as great a the gaD at all other ports
combined The production of pig iron was
1060000 tons a gain of 893000 tons over 1889
Over 8000000 bales of cotton worth over tiUO
000000 were produced In 1890 and 649478
bales were consumed by Southern mills
against 2CGOOO bales In 1885 This Is the
record of what we consider the beginning of
Southern prosperity This rear promises to
show even better results Immigration Is just
commencing to set in and tbe next decade will
show a most astonishing Increase In popula
tion In climate soil resources and natural
advantages tbe South defies competition
Under these circumstances Is I strange the
railroad men are anxious to take advantage of
the situation and that their attention should
be turned to 1 section which promises such
handsome results Railroads In productive
and improving sections find a paying tramo
awaiting all extensions and new roads from
their completion are rewarded by a business
which tax them t their full capacity
This Is not an overdrawn statement of the
oerrawn
situation but is founded on solid facts and in
disputable figure To paraphrase Horace
Qreley we would say Go South young man
and e will find in this section the most advantageous
vantageous employment for brains muscle
and capital
FINANCIAL LV > COMMERCIAL
New York Stock ExchangeSale cad
Ranee 01 Prlee of l BeenrltleB Dealt
I a DnrlnE the Week Ending Feb 81B9I
roiKD mini UD run IOSDI fix SlixxM
Cjxn Wok Loio O
Sate na > t rt Lea
4000 O S 410 121 12IM 121 I2IH
1000 Atebame l CI M A104 lo lo lo
loouovinrtouetdt I l K u MS
10VllldtT I
NOOOTun t l 70H 71 1uH 7uJJ
ulLaa U OTSIS 50551 o s SlOCOo
0 JHjV Low C
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ll9Atehtson4l 7L4 5J4 7el I
607 AMBlwaln 4SJJ 41 < 2N 1eH
lul AIL APaom 12 12 J iij
It AU A Pac lit 7JK 73K 714 Tl
U Albany Fina en al20 lioJ laoJS lau
I I
2 StlL a Ohio LO 100 lOb 108 IU I
I Burn I a A N It Vhf wit twi MX
7 nil ABaw Ha ie no IIU
ICIOcIOI IOOJJ 100 ioo
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4taAOsWmtr106 lOS lOb IOU
Ur 3 tI 10 71 70
lYCbtoAItonlat 1w lie lOs lu K
8 0 I A I detx Oe BflU Bj J w uts
llVLQ4stDL 5451 JWjJ t6 Ml
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7 O 6 A C I 41 DDirbu tU BO Ml
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a lola Oalo ala 11 1121j 11 IIH
4 CIr C ttis4t51014 10 lO13 IUI
1 Col tiost t 04 lOs Ill 102 102
lliClnIEikACh4 MX MK IU > > VC
10 CDL A ferU IM S7 87 88 9
AvLLILrsIll 111 Ill III
44 It U A a O CD 82 tU > 4 SIlL 2
I tinlnlb A MinUtadlrimif Kfll iw rl
aItal 11
3EV Ubllf MtV HIIS IH 1IJ 1 I1K
7 Kill C B I Ill tt4l 93 81 114
I lrl onllt 1 1 I14 11 1
121rl 0 IIO3 10 10
Hi E Tean 0 102 103 102
g l
aSKaatTDO lit iia us lie us
U Kit Tnn D 010 lua 10 104
3 Flint A n M 011 10 Illl 10
211t Worth lit 10W 103U 101 101
9 0 I id A It W 4 B4 04 US W
uaranil InC 0 8 w DO ml
1 HouatonlaS I04K 104K IU4K 104V
loU1lollo
21 a tJO CD 111 Ill Ill MK
IE I Harlem III r I21M I2J III3 laa
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5llT1JUIIl4s O 0 0 tn
Is H C T o ci nan ioax itnM tcK
2 luff MIJ ba US 14S IM 1113
b Iron Mt lit 1U2 KM 113 1UJ
I Iron t o A T lV6 X 100t4 IOM lufiU
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4JlronMtBl OJ 9 M II
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> Ine O US 10 111
B ind A HD ii > KU loa
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UKD Cltyt P0 Ut 72U 73 > i 7J > 73 t
Id Ken Pac con llug llotf 12Y J 1211
4 lJ1L lit O my me lIst >
Bl Csri C IlL 4fc 711 lM > 1 fl 11
114 hail C Tex ad iX 41 4UH 4114
bhnawhaAMIoh4l 77 77 77 77
I Knoxfllla Ohio 1111 ItW lOtS hid
U LenluSty Inl In 111 la 811 n
4 tlluoty I on as 111 la I 12 13
ILWtmOl 137 97 07 97
I I 3 A W 1094 Irl 101134
ILnVok7ID IU lOOM U
12 Lake Ittiurs III 2334 31035 2
II 111or1211 r IJH 11 W 1314 UI
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19 Oricon 8 t 111 1M 34 l 101
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loFMdlnnrnnt KJU 5014 8 iSI
114ID IMP IDO 63U 5I 0 al
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210 Pea of i onalnioyj IOJ 10214 Ir
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8TrrILxdpt toe 10 10 lob
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6TtnnOLARfaBlrdir 1 4934 Wi MH MM
I Term I I C R aTdlr ssg raU wg Kj
I UnionPaaUlit S7ll6t 110ft liiS lluj
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UlloD
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5 Union Pa < dnoD AOIil SOJ SOU to u
17 UnIon iL IV ics 10
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W1b P II 101 10 10
twabuhid TUV lUSt 1 70
I Wabash Db ar B 504 auSJ soV 534
fMWMtrnUnioncoI3Ioo J RIO 895 to
ai wit Short 4 IOIM I03U loi io U
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H WhlL A L E Imp 94 M M 04
a Wo LlYlpiri I01J 10U I UO 100
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I ri Central In 41 41 t t
total ilk of railway bond u > ar raraex 4320oa
XtllWIT Silo 07551 II1IU
d
Open toV Xov cto J
aM lift tit tit Lug
200AltonT SO Mt f1 aS
American Cable 81 81 HI SI
Buu mIn Ola Tel sou wv > 2 xu
IK American KxpT 130 121 IIS 119
80371 l < b T C Santa n 27K Hit 20i 26U
Siu Atlantic a Paclflo I 514 I aU
MBotoDXLpr toau lISle IU OJ
100 Buft Rooh 1 814 tJ tBX 3
ate Bnff Root A 1 pf 77 175 1 77 > J
toulininiwlck C I7K 17 1714 nil
IUMO Canada Bonthera ftiH 8I SUM fioij
2B53 Canadian Pacino 701 76i 7SH 70S
as I Central Paclflo 2 29 19 29
lid 1 Cite C Ohio IB in1 is1 is
llldCbea AObio lit pf aiW > Jfi 1 61V Kl >
bOU Ohio A Ohio Id pt IS 3JV 321 S2i
180 ChlC a EaitIIL VC KOJJ t Jj e M POU
10142 ChlOUaa t 4JJ 4li 4434
l4CIzckAItunf307 le tea 16
8TTOIX 0 0 A 8t L C1V 034 81 61
SOOC OC C 8 1 pf e 9U BS M1
IBlOCblc 74W10034 107H 10BH 30114
10 ChlO C N W ptlIs IU 188 138
744S8aftAq 03U KSU 78V 71PM
48U03O M AStP DAM 5434 64 i UU
U90CXSFpt1i4 lint lisfi mx
lImo CI L C r ciac < nu 974 w3J 0
1910151 APItl 11 14V I4S i
750 Colorado Coal 0C3 P > W tiif S M
iOJ Col U V A To 2UH 21S SH JW
ion cm a lot coat lu te 15 is
aocttiuBiUaaot B r e so 0
asi CouoL Oh l Co M I U 9 00
ItOODeLA ilodionl5I IW 133 15W
55MSDIJW554 11 1534 137
1
BDDY R IG lj IB IS
l4 M > HTrARUpC so > J 60 > I B9K UU
1 itlwlal C C I 4 4Ma 444 44T
BSWHKrii ix 7e
PS I 1 C U 24 pf 11 1 17 Ii
5 Edison O E 24ii 104 10 lO lo
J 10r By W TM 714 734 77
KjuotNorthtntpt 8134 Si 114 50
liiarim 90s Sao 2511 2us
10 UouMo ATeza 3 2U si Wi
0 1 B ciaHIa CobUM 106 louQ loev
IlOHBCIBCOlltpfOBTIOlU 10IX 101J 1U1
10J llUCfn CoVd pOnTI03 103 IU3 1U3
ID HBuiu C1 ptcarius 103 loa 103
tul HlluoU Ctatral WM 9ew Mf Mi
S2 Klnmn < Pm pf 7 7S 7 7 >
700LE ifcwrn I4W I4 > J 14 14
1471 Ll 5 Weiten rt 7M 6 564 30M
3SaiLekShort 1 HIM 112 61 IIi
l74L < mi Jiiand S7K 8034 nn HHV
BUS Lacicll iiu J 1 J 1
19 Loa Una nr e fO 0 60
143W UiuU Jk Nub Tti 75 74X 73
SOU Loall N A A C Xll 23 > 23 H 0234
100 Loa ks Aia Loalpt i i i4 61 431
1140 Manhattan Con 101i IU1i lo lo
IK Manhattan Brach 4U 4vj EL 4t
1W Mexican Central lift 21J 2IK 5I I > 2
19 Mlchlxaa Centra ni Bli 10434 MU
600MIUbHaW 77 K n SO
470 Mil r I C A pf004 104W 104 1044
MOUInn ABtL 4 < 44 4 4
7oOMlnDABtLpf IIjj > 2 IOU Vi 94
sSnoMluoartPacula tn 67 < MU 1
6MoKanAT 124 U u 122 tJH
KM Mo ATpt aijj I JIK 21 SI
M 43Mobil A Ohio mil 402 9414 SHU
22 MorrllEMX I47U 1472 1471 1472
3 NIL L 01 SSfi 5834 < 37 6 SO
SSSSNJtnIrajlii 117 II IOU
J I y Central Itrj IU 10 lov > <
14 l Y City C lorLI1 p Ill 20 II 21
S7IU National C Co pf p lU4j IU7K IO i I07U
423 Mortb Amrtoan 18 141 I7 > 182
7i09YNwltag J t0 114334 8334 3U > J
tN Y 112 1 2 269
419 N V C A KLilVV Ski 1534 UU I3M
m
2INYC iHtUUtpt BS 4111 4i7 7i4
fiat l Ylu C al LTldpf 2I > M 2W < 2 2J
1010 I Y LKAW ItlQ I0 lt > M IUM
754SNTsW III ts34 I lu 5
7SBO l Y I A W pf Eisj SliiJ SI SI
2Norrolkaw ib le ID IB
OIl Norfolk a wit pf 64U Ol < 64K 0414
4150 > Norlbru KO 2U I1 4 S7M 27H
l427BNortb Paopf 721 7VJ 71J 7134
MM Ohio Mil 1 I7H IUH 2I
10 Ontario A WtT 40 4U t 411
11 Oat WI 3734 1754 17 Ill
7400rtonlmp 27 47 M s
ID Ortion B S N 71 76 75 7S
S44SttPaoTeoMall I7U 4334 11 V7X
6301eaDk E WJ SOt 19K 543
I5M Inlla C Hcadlnc b2 tail Sit ajW
IJ74 j Pal Car Vs110 10 lIMIts ItKiJi
10 fltta O 0C St L 13K 1334 isC II U
al000icksIlver514 54 fift nj
40 utotsliIlr pf ll 4 ai I 40
tIIulbIY lXit IH Mfli 37
125 110 U W pf 70f 7KX 70 73 V
L16 lush C w 1 111 3534 1814 11
1a RIt 1 o OVVV04K BJ 10 110
2wStLFlip7 6 a8 f 0
no 811 1 ADalnth p 9534 26i < 3034 2eK
lust P 5 Duluth pf 10 K 8S U
400Bt P a Omaha 14U 14M 24 2434
Jt I IIU 10 10 10 H
sill South Carolina I Off u VI
JOO Bontdrn Paetaa SOU SI 8 ai
400 Tn Coal A Iron 866 564 I I > <
10 Tno Coal Iron pf BU HS lId IS
iOTk0Cpf T 87 S7 87 K7
87oTiaPaelflo I4U IVS 14X 14K I
12115 I IS SR rsc S ii1 U iJ 1t I I
1 11 Ulor t J 17 17
5 UatIC it II or N 11 2J7 947 21
3820 UDII41 A I of IU IU 11 U II
311 Welli VirgO E ij 4 140 I 8M
121 WNI Union TI II 8114 H 5134
SltUWltlIoi1LUIrti 33 aoj 3114 IJ
IIIU WtIDI C LIr 1m IM 714 1214
COiWICntral iOt i0t 2O 2
c WarD n K I4U 140 141 Uo
Total aalia 409KT shares
ULIUD Darlar UIO
Own 1 lI 7s
slits loa tL IS tna
Slu
2O4SAtilatteIfl rot on Wi 27 I 01 314 21
1312 MaSt Col Oil pf 47 48 411 4H
fTWl ArutrCot Oil otti 23j 2114 I 21j 7fl
L Amir B R Oo Tclfl 73 13 Ig 1 715
61Ui ASKto pfTott fUiU U16 to i
SIM lIsts BUuriT K MJ to lI0 I H
747 National Mad Toll in > 11134 lrkil Ie
9305tL ACT1p 114 10M u tg
lOSroeTolyuEI 2in M 2 70
lOOUCoOISIotkT00 in iS 1 18 16
Swoon I ntr eui tta 575
Mil Horn Bilrer 521 S2Ao tvu 5541
110 Sll er Klii 23 a 21 2 A
Ilyr
ntOlloul ATC deb 41 72 72 711 J 7lf <
eroa iom I o Co 41 8 su a 515
4eOLoiaoQTAS W itl SI HJ
IouooripeLlQau 7T 1 77 77
Iaa irocii
0 Ulrtt 1 f
csleL r mf sse I IH
ao Bank of America5434 11434 21434 SUM
MWinoittm 181 181 181 181
USBink ol Cewmercl It loT IIM
loOinoTer aao B aw aw
Ie WOrl ooaIO 0034 lor up
a Amerien Eiohint IM H 1434 114 Um
asoiiiiiin Sis I 11 sis m >
2 OIID m l 17 IBT 117
23 CornTlcbinie 241 at X4H 248
liu luck o Sooth Amtrlci110 no liu no
FUKDAT March 1
Tue sum of tb Treasury balances at the
ciO of busiest yesterday was 1166048564
belnu au Increase of 4300955 a compared
with tbe Hcuroa of the previous I tiuturday
Balance of deuoslU In the Treasury t redeem
iattopsi bank poles U1199168
Htatlstlcs relating t iiiverbulllon Ct
tlocate dealt In on the Block Exchange are
tltoat
U follow Silver bullion on band tab 98
fSIJoS fl ounces certificates outstanding
st The UOIUIUltB forth week were 783000
ounces at B797X closlna at 97K cent V
OtUc
bawe kly bank statement shows
7 > ft 21 r > b 2 las
Jf tj
LOas wtos6Mloo 4oesimo InS 5550 7ai
till 41B90270U 414436IOO Pe alMOOO
rcqltlell ii 39J Kl 1ItIOO 3e gftjg
loOnl 1065 tllW4aoo IIItIItiMYt jno
59415 sl4JXL 1111101000 25S 8oo840u
nrTfllR6IR700 II73Vf 0 nee Jj278900
H4rrroa lot irte naooa625 DIe ts4i6o
Burptttl 11537302ft IU030375 De 11742750
The inrplni a year era was r3M4300 and two nan
ate sna Wut
The Farmers Loan and Trniit Company and
Msrs Winslow LanIer A Co ray as usual
the Interest ranturlno March 1 on a large flaw
br of securities
Messrs S V White A Co offer for subserlp
tlon the securities of the American tjoda foun >
lain Company recently looorporatsd under
the laws of the state of New Jersey Tho
capitalization is I3750uo0 and the company
Is formed for the oarrylnc on of the manu
faotura and ssta of soila water apparatus and
supplies and bottling machinery In alt Its
branches ft has acquired and consolidated
bl bnslns and plants of the followlog
concern John Matthews New York A D
Puffer a Bonn Manuiaclurlna Company Bos
ton Jamos W Tufts Uoatou sad Charles
Llpplnoott t Co rhlladtlphln Ther II I no
mortgage on any of the property which con
sists of real astats manufnetorlsi and tor ire l
and goodwill autl the bylawn the com
pany provide thnt no bond or mortgage shall
be onattd without tha authorIzatIon or 90 per
enU of tho preferred stoakholtlars and that a
like vote Is required to alter this provision of
t e bylawn The company took chare of all
the properties on Jan 118M I and has no debt i
or liabilities nave such IUI have ben lnenrrd
sjno that date In carrying on tile business
The capital took In divided Into J3600 shares
of first preferred Jnlor cent stork
1UGUO shares of second preferred cumulative
8 V cent took and laCoo ebaro of ccnernl
common Block Onahulf of each of turns
clauses of stork Is offered for public subscrip
tion at par the oar value of shares being 1100
Thrn are none of the features of a trust
socalled about the new company Its ac
aulred property ban been appraised aafollowa
Real estate 117889 stock on band at coat
11352180 manufacturing pianIst much
low cost 1200000 working capital ot < soo0no
to be provided from bills receivable held by th I
several vendors who guarantee their payment
to the company The books and accounts of
then vendors have beon examined by Messes
Han Bro TIbbetts A Co expert accounanu
wbooertlfy that the aggregate sales to the patt
four year have been SI0l G1II1 or an aver
age of 12438037 per annum The net profits
for the same period have been 677609 or
19403 yearly Hubioriptlon books will be
opened sImultaneously In New York Boston
Philadelphia Chicago and Ban Francisco on
March 9 and will be closed ou Marcn 11
1nandli1
NEW LOANS
800000
CITY OF CHICACO
Refunding 20Year 4s
100000
CITY OF DALLAS TEX
SOYear Gold 5s
125000
KANSAS CITY MO
2OYear 4s
50000
CITY OF COLUMBUS 0
20Year fis
ALSO
Cook County 111 5s
City of N Yakima Wash Os
Dodge County Neb 5s
City of Seattle Wash 5s
City of Sioux Falls So Dak 5s
Carbon County Wyo Os
Des Moines St Rwy First Mort 6s
City of Dayton Ohio 5s
Tazewcll Co 111 Township 5s
Lucas County Ohio 41s
City of Marblchead Mass 4s
City Olympla Wash Os
Pendleton County Ky 5s
City of Wichita Kan 5s and Os
For tale and full particulars furnIshed on
application Send for March Bond List
Correspondence solicited
N W HARRIS CO
Re
15 Wall Street N Y
CHICAGO 13 Dearborn Street
BOSTON 70 Slate Street
The Seattle City Railway Co
aoi 0
FIRST MORTGAGE
GOLD BONDS I
DVE OCT 1 10
COUPONS PAYABLE APRIL AND OCT t
This compmay own o cable mlltray In the
tjrowlnc city of Heattlr Vr hln tonwhlck
Itmm beta IB operation about two year
ThejcroM earning fbr iBereaae
ABB were aoWTVO fer Oot I
Cr
111wTre 47lll 4t Jilt
1118 estimated 1491O7O1 ao
The earning fbr January 181 show as
iBcrcme of HI per cent over January 18BO
la addition to operating ezpcniei and the
Interest on 8g7OOO bond the company
will tblB year can from 7 to 10 pr cent
upon SeoO WO capital Btock Population
ofHeattle laereaied from BJiaa In 1B8O to
4a14 la 1SBO
A pcraonal examination of the property
and account of the company enable us t 41
recommend these bond
A limited amount oVenS at par and I a
guest
C HI VENNER CO
33 WALL ST NEW YORK
8 CONGRESS ST BOSTON
TilE ALABAMA MIDLAND
Railway Company
Luverne Division
ISSUE OF 500000
6 ° o First Mortgage Gold Bonds
XEDEEVABLU IN 10
Ttclnc the whole amouBt authorized under
the inortBBue at the rate ofJl < SOOO
per mile IncludIng lull equipment
Th bond re for SInAi saab ana ins payable to
burr Out may lie I reiliierm Tits principal U duo
Deo I I119 tile InUniv Ii I p1abl on Jaa lit ana
Daln
vhs earnlnci of the Hue liDO liii bdanln of cpr
tlfuih bolI a ontlnu lly lacrilDf Surplus Dyer
larit chary
Till BOAD IS OPERATED BY AND
DCLONOH TO THE PLANT HTHTEK
UF RAILBOADM
Application will tis md for lbs listing ot the bead
on Its X w York Block Exoliaoiis
FOR FlUTIIEK PARTICULARS AND
PB1CE APPLY TO
P J Coodhart Co
BANKERH
24 BROAD ST NEW YORK
AND
71 WEST Till D CiyclNNATI Ollla
NOTIOK Tried Ann Arbor and Jinrih MicIttxa i
L Saucer foiupauy Tli ouroi > of tui conivnr
divlitoni bond mown SiLls 1 UfDII Ttleilu Ann Arbor
and taill mO r JO s the lledo Aon Arbor arl
fleuui do March I 1M > I will bi paid os aatirlty at
H cempuy olflw 10 Br dw r
J IL ar VlcePnaidODt
M W Oil > tbJ 1 ieiIIJJr
1
SI V WHITE CO
BANKERS
New York and ChIcago
ARK ATTRORIZED TO orr K FOR
8VBBORIPTION THIS VNDERMKN
T1ONED SECCRITIEtl OF THE
American Soda Fountain Co
Incerperated uadcr tho law eS the fjtate
ef New Jersey
Capital tock3750000
DIVIDED INTO
IJOCO SULlIES FIRST PHByRRRBD
CDMCHTIVB a PElt CENT StOOL
1SWO SHARES SECOND PREFERRED
CUMULATITB S PER CENT nOCK
19800 CEASES OBNERAI < COIIIIIOII STOCK
FABTALUC OF ALL SUARES Sloe
niTldB4 OB the Srt and accond pre
erred stock will he payable tn February
and AnBjut of seek yean Dlvldenda on the
common Btock will be declared and paid
only at the end of each ntcal year
AMOUNT OFFERED
Onehalf of each of the above secur
Itloa Is offered for public subscription
at par
BuhBcrlptlOBB will be payable a fotlewd
10 PER can ON APPLICATION
30PER CENT ON ALLOTMENT
SO PER CENT XARCU 36 1881
SO PElt CENT APRIL S IBOI
TUB SUBSCRIPTION LIPT8 WILL IB OPENED
PIMULTANFOUSLV AT 10 OCLOCK A 1C ON MON
DAY MARCH B lOOt AND WILL CLOSE ON OR
BEFORE 3 OCLOCK P M ON WEDNESDAY MARCH
II 1991 AT TUB OFFICRB OF
0 V White A CoO Wall BtNw York
and 4 Bhermaa St Chicago III
Chatham National Bank New York Oty
DlBckltone NatlOBBl Bank Boo
Mtrupolltaa National Bank Boston
National Bank of the Republic Phlla
Northweitcrn National Bank Phil
lIt National Bank Ban Francleco Cat
John II Matthewe ma E Ht St N Y
James W Tan Boston or New York
Charles Iilpplaeott Pat or Chicago
AI la D ru Ar Boatoa or New York
From whom > Toip ctnHi and form Dt tppliektloi
en be obtained
All inan Issued will 55 futDJ took eckhol < rs
will bar at pnon l lUblllty
Than U so DtUt > on uiy prop rT ot the com
ploy and the bylaws provldo that no bond or mont
cats can be croud without lbs content et ninety
pr sent ot the preferred tockholdra and that this
provisIon DueL be llere4icpt bth Ukafflrma
Mr TOM
This company la I formed Ie take erie and carry on
th bounds of tnannaotnrlnc aodawater apparatus
and nppllei as hlthitto conduct by the following
tablUlimentit
The Firm of John Matthews N Y
Established IBM
AD Puffer Sons Mfg Co Boston
EitBbllihed 1S4X
James W Tufts Boston
Established 1SB3
Charles Lippincott Co Phila
EBtnbllnhed 188
The business traniferrid In ach eat U lakn orr
troll Jan 1 1891 Tb company ha no debt or lie
blUUu of any dMCrlpllea whiterr exopt oblige
lions ncuiily Incurred In lbs conduct of ailaa
line that dat
Registrar of the Stock
BOSTON SAFE DEPOSIT A TRUST COMPANY
BOSTON
Transfer Agents In New York
MESSES S V WHITE A CO
Auditor
HART BBOIHERB TIBBETTS C CO LONDON AND
JEW YORK
Director
JAMES W TUFTS PniWent
ALVIN D PUFFER Flnt VlcPrildat
ALFRED II LIPPINCOTT 8cond VloePmldnt
JAMES NORTH Triaiorer
JOHN 11 MATTIIEWSof the firm of John Matthews
FRANKLIN W HOPKINS of the firm of 8 V Whit a
Co banktr
WALTER a BLANCDABD Pmldnto the Metropoli
tan National Bank Boiton
The bsii55se of the corporation be managed by
JAMES W TUFTS JAMES N NORTH ALFRED H
LIPPINCOTT F 1IAZZARD LIPPINCOTT DANIEL J
PUFFER anfl LUTHER W PUFFER
Each cad every one of the present Ten
don whether employed In the new cow
poratlon or not ao employed have signed a
contract not to encase or compete Tn any
sImilar busIness
STATEMENT OF VENDORS
Nature of BaleTh ballon ot thi con
cern oonilit ot lbs manaractnr and sale I ot aoda
waur apparatia and sevplin and bottling machinery
tn aU its branch la which deputment of industry
they conitltot the prlnelpal lUbllihmenu IB I th
World
Property Conveyed Th property cnryd
coniUtiof ralitat tree and clear of encumbrance i
th satin manutactnrlnx plant of ach of Its MY
ral concrnii their lazy stock ot fooda mnnfac >
tared and In procMi of manufactor mattrlala ma
chinery appllanc of all dracrlptlona letters patent
of the United state to lbs number of mere than one
hufdnd and forty and the food will of all the old
ooncerDi bill rec IYabl held by lbs tTral Ten
don ins aim lneludd to the amount ot Svjquax The
payment of each ot thei U gnarantd to the com
pany by tie vendor In whose builneil It origInated
and a workIng capital will tItus be provided qulralnt
to ivjqoooln money
Tho properly oonTy4 to the company may be that
summarized
Henl EBtat 5147aI5 TS
Stock on hand at Cot 1IIISl M
ManuftecturlnB Plant at much
below eo 9000350
Working Capital to be pro
Tided a above ftOOOO oe
390000050
Th above Ineludi nothlig for the pliant by which
bad matmfaoturd by the reilrinic Corn ar vre
tctd or for the good will which with ripect 10 each
uoncern repreientia contlnuouily loccrutul bnllDi
oW
llrJII cr
I
cartr extendIng as to two of lIeu or more lIsa
nftr yeara and a > to lbs other two for conildirably
more titan a quarter of a century
The book and accounts ofeach of the ven
dor have been submitted to MerIfART
BROTHERS TIBBETTS Jt COMPANY
the wellknown expert McconntantB from
whole certificate which IB Bet forth In full
In the prospectus the following Is nn cy
tract
traria
The AGGREGATE SALES FOR TilE
PANT WOVE YEARS SlAVE BEEN CIO
isoiai aa EQUAL TO AN AVERAGE OF
83438081 Bl PER ANNUM
THE NET PROFITS FOR THE SAME
PERIOD HAVE BEEN laTTOOO SO OR
AN AVERAGE OF UlD4OaO PER AN
NUM
III proSt for the lait twelve month ihow a could
erabl mona over those of any former year and tts
alii 1 liar nrogreud iteadlly as rldnod by tbe
following statnent covering the period nadir sam
Inatloni
1887Total Sale > 7A3 II
ie88TotalSal at N
ISa TtaI8ali e 8aeoU
ISCOTotal 811 881e
sl1Eiiai S
HUmed
HART BHOH TIBBETTH CO
It will be loon that lb anrin yearly profit for the
CooL tour year baa been S4lu40iai Taking is a
l 101 U and deducting
Mix per cent UDOB lSMMMMtO
First prsrereed Block 77Tll7a 4 > > 00
lIeea per cent upon 1080500
0eenl ireferre atock = >
tad HulBriCB or
sis tbr owner wo remala
as MansEer 589053
THERE KFK41NI PPJlOA
HI E TO DIVIDENDS uPON
TII2 lrJl PIlr1KUt
NVM ur 0 DO
WIIICD 1M EQUIVALENT TO 11 PEa
CEJ PJK ANNUM
The Tendon agree to retain the owner
chip for Live years or more os at lcaat 10
000 shares or th sompaye sleek wepre
=
seating ut pr 51 000000 and moasistiag oF
A 000 s8ars or kiensu Stock ad 694j0
oc r 4J
shares erSecoad Zrefsrred 1f toek Tkes
sceurtilel wIll be Pt In tOIopoeesIoa
r the Boiton tSar JPepo14 cad oIeloa
pauy for Sbeperlod aentioaed
Mr H V WU ole Co ad Walter 8
BlBurBBrd Kaq PrCBUeBtoftie lactropol
lisa NBOBI Uanlc oriBoalon BBTB laces
llBBted tue business mSTalrB o1 the Meral
yendors fled rrcommrad tbe aecurltles of
erred us entirely worthy of public COlin
4SsrrATuMrs AND VOBISM OP Ar
PVAJU N IIIAY lIE roWAN xu All
fn tnYJvCJ F 11
UCHlnWh LITII WILt CLOsE lVlrDBSbAY
lIoItCU U IWI
tIU1Uta1
Louisville and Nashville
Railroad Company
95000000
Unified 50year 4 e Gold Bonds
in Bonds of S 1000 I
Beads ran be reclitered either as to prin
cipal oaly or nay be converted Into regis
tered corUScate la amonnts orVAOOO
INTEREST JANUARY t AND JULY I
PRINCIPAL PAYABLE JULY I toto
both prlaelpal and Interest In cold of lOre
eat staadard of welch t cad dnene
TRDSTBEl
THE CENTRAL faUST CO OF NEW YORK
Th LOdlBTILLE AND NAHHVILLB
RAILROAD COMPANY baa created a 4 per
cent toiled mortgag limited In amnnt I70000oo
scoured upon Its main liDO and upon all Italian ID lbs
Slate ot Kentucky aad Tnnime including the Cin
cinnati Dtrlilon oD4 fntthir icard by a doll with
th Trnttt of bond and shan of the nominal amount
of BJ80flooln lndln a majority of the ibru of all
the Important line which lbe Loulirlll and Naihrllla
Company control by atock owuirihlo on part of
which securities hiwerir tha S3IUOO 1040 adJust
meet bonds which can bo redeemed after Boy I 1894
are atrtady B Hen
Of the 4p r cent Calfltd Mortgaga DODd thai crc
sled titers bar beta ill aiHato prorld forth par
mast and ttlnoilOD of prior bond 41830000 of which
amount M28BOOO art owned by 615 company The
InttrMt on the eutilandlni bond amoonta to about
r2SUXOOO pr annum whll the nt ranDO from lb
lines norlgagtd under the Unified Mcrtgag bate bin I
curl th Sisal Tsar twoiteo about t < 400ooo
Th Deed ot Trait nndr which the 4 per cent Unl
fd Bond baY Lien crested limits the Ia l In lilt
Bnt Initauc to faono0 i for tli < t > ri > uraU purpoc
of tha company and railrlctn funhor IMQI of bond
II proylds that bonds may too 1101 l i l only In aicbang
for onuianillnf older llna or for sew oonitrutloa or I
xteailon or further property acquired or for the dla
tlnct purpoMi lit ipccldcally la the mortgage In
each CM the bond are IMao4 tinier the inparTUIon
and utbentle Uon ot the Central Trail Company and
all new properly of wht rr natcr eonitructed or
acquired aralnrt which bonds are tuned la I earrd by
lbs lIen ot the mortgag IT DISTINCTLY
STIPULATES THAT NONE OF THE
OUTSTANDING PRIOR LIENS CAN BE
EXTENDED BUT MUST BE REPLACED
AT MATURITY BY THE A PERCENT
UNIFIED BONDS Of the latlr there hire ben
leiued under lbs provisIons of the mon nOKOyQ
et which the < iM > ux > now offend form a part
Tha bar capital of lbs LonUrUIa Naihrlll Rail
road Oompanr Mouotooa The company baa for B
Dumber 01 ysars 011 llnnrplni for lbs Impror mnt
of the properly and paid ILl dividends stock but the
lit dividend for hi half yar ending December 31
Wt was In cash at the rata of S per cent per annum
The tlxed eunrces fbt the last
flaeal year amounted 08411
Acalast net rereBUe from all
source or TTSvOSa4
Leaving a surplus aet Income
of ell
LOUISVILLE C NASHVILLE RAILDOAD COMPANY
By Signed Ex Norton PriWnt
NEW YORK Fahrnary 1881
REFERRING TO THE ABOVE OFFICIAL STATE
MENT TUB UNDBR8IQNED WILL RECEiVE SUD
SCRIPTIONS VNTIL fl P If ON MARCH O
1801 FOR SSOOOOOO LOUISVILLE AND
NASHVILLE VNIFIED OOYKAR 4 PER
CENT GOLD BONDS AT THE PRICE
OF M PER CENT AND ACCRUED IN
TEREST THE RIGHT TO REDUCE SUBSCRIP
TIONS BEING RESERVED
A SIMULTANEOUS ISSUE WILL BB MADE IX
LONDON FRANKFORT AND SWITZERLAND THUS
CREATING FOR THE BONDS AN INTERNATIONAL
MARKET
KvaK itozra k oo
SO NASSAU ST MEW TORE
BAJiJiOABTmK H CO
28 BROAD ST NEW YORK
THE FOLLOWING COUPONS AND DIVIDENDS
A ARE PAYABLE AT TUB OFFICE 01 TUB PAR
MElts LOAN AND TRUST COMPANY I 10 Ih 3D AND
XI WILLIAM hTON AND AFTER MARCH 1 IHUI
AMKRICAN WATKR WORD AND GUARANTEE CO
ATHENS CITY WATER CO
MATTER MOUsE CO
CUIUAOO AND KT LOUIS RAILWAY CO 1BTMTOE
6 PER CENT
CITY Or SEATfLK WASHINGTON TERRITORY
CITY Of HASTiNGS MUD IN FAVOR OF ST PAUL
AND CIIICAOOt
CORNWALL WATKR WORKS CO
DUNDEE WATER POWER AND LAND co
FOND DU LAO WATEU 00
GREEN iSLAND WATERWORKS CO
UCTUHINSON WATBR LlQHf AND TBLEPUOMB
Co I
IDAHO MUtING AND IRRIGATING co
KKOEUK WATER co lIlT MTUR
MOBILE AND OHIO CAR TKUHT
fA tJasoNlg ftO IK8
MINNEAPOLIS HAS LIGHT I CO
NEW YORK PENN AND Unit IL R CO
rtiitND
ORFORD COPPER CO
ST LOUIS ARKANHAU AND TEXAS OAR TRUST
SALISBURY WATKR WORKS uo 1ST MTO
TERRE HAUTE AND SOUTHEAIiTERN R R CO
TKXARKANA DAB AND BLKCTEIO LIGHT CO
TOWN OF HANCOCK N V BONUS AND COUPONS
U S ROLLING STOCK CO REAL BaTAlE BOND
COUPON
VIOO COUNTY MAXWELL AND ST MARTS FREE
ORAVKL ROAD
WESTERN KQU1PMKNT AND CAR CO
WICHITA WATER CO
WATERLOO WATEU CO
CLEVELAND AND PITTSBURGH no R CO DIVI
DRIID
WIT7
PT WAYNE AND JACKSON R B CO DIVIDEND
MT VERNON WATBR CO ID MTOE
OREGON DIrT ca 1ST MTOB 6 paR CENT DUB
DE7 I 1890
wXtuSli
WATER co laT MTOB i
LA CR088B CITY MARCh Wia COUPON SQL Ifttl MARCH S3 1ml
BALTIMORE AND OHld ODTUWESTERH BVB CO
INCOMEs
New York Security Trust Company
48 WALL ST
Th New York Bwnrlty and Trail Company will pay
the following coupon da March 118911
SAVANNAH AND WESTERN ft R 1ST MTOB
CHATTANOOGA BOMB AND COLUMBUS no R
FIRST MORTOAOE
CHARLOTTE HARBOR PHOSPHATE CO
TUB NEW YORK ChICAGO AND BT LOUIS
BAILROAU Oa I
aUJf 8iNnUL
8
GRAND CENTRAL LOISt
NEW TUllE Ju 28 1881
THE BOARD OF DIRECTORS OP TUI8 OOIlP Y
I bay tip dr dc lrd a dividend of THREE AND
ONEHALF PElt CENT on the FIRST PREFERRED
STOCK of the company payabl at Ibis office on IILI 21
day St March I aeit oat of the act earnings for Its cal
cedar veer ISuu
Tbe truKer book for Pint Preferred Stock will belo
closed al a oclock P M on Moadar the Sd day of 75
man and will be roDned oa the moralnii ot Tn
day th M day of MarchALLYN
ALLYN COX Treainnr
COLORADO MIDLAND RAILWAY CO
NEW YORK Feb 27 1881
Ccnpnniof th Bqntpmint Bond ot the abooom
Sanr doe March I pros will ha paid on and itter that
at at th om of s a Sand C Co IU Wall it New
J W BRINDLE TlePr ld nt
COITJUBVPI IIOCKINO VALLEY AND
TOLEDO RAILWAY COMPANY
LOIJPIN DUN MARCH I will be pU at cli AlLAN
710 TRUsTS COMPANY C 11 T and RaIlway by
C C WAITE rsldeaL
LOUISVILLE NEW ORLEANS AND TEXAS BAIL
14 WAY COMPANYS flnt mortgage coupon duo
March I IHUI will be liald OB and after thai Cat by K
T WILSON A CO tu Wall at New York
fltdIois imt ZetthzL
51105 ANNUAL MKETO of the hr oldrs of the
LAOKRMAN TVFOTHBTBB COMpANy for the par
posed isstiog traits for the stuintal 7001 WIll be
held March II lout at 155 Broadway Nw York at It
oclock noon
Foils will cloSe at I eclock P M
Dated Nw York Fb It iaei
HERBERT Ii TAYLOR Secretary
rcpanI
SEALED PROPOSALS will be relTd at Its cOle of
ih Trutiiottb Nw York ass Brooklyn irldq 179
Watblngion el Brooklyn until 1 1 oclock noon IS March
H 15501 for lKjuton Sundr4 blouiei about iwo hun
died and BfiT patra of trouMn and bout twnlr Ore
nrrw com for rids I ennployee lai191o of cloth
and larmnu my be Mtaatlb brtdgeo4flr l Each
bid mull be cei > UBaald cy a iriiae4 check for 0s0
per cent of the swoon ot the bid 10 be returnee to all
lentils suooaIul bIddeg The rtgbhlsrurvettere
Iecasloraflbld C C MA6TIN
Ensineer and Superlatondinl
PaooaLys 345tc111 1891
1unda
S3O93OOO
FIVE PERCENL30YEAR I
GOLD BONDS
Issuod Jointly and Severally
BV TilE if
vl
MillileapoliB Street Rail
way Company
AND THE
Minneapolis Lyndale and MiDDBtonH
Railway Company
Secured by a FIRST CONSOLIDATED MOllTOAtli
on the property of the flrat and by a FIRST MO lit
UAUhou the property ot th lecond named Ootnpaay
Due Ifiah January 1919
The Farmers Loan jnd Trust GoTnistei
Interest Payable 15th January and IStk Jily
Bond In Bulk RegIstered asS 42oaB4Nt
Form Ml orSIO4 each 4
Both principal and Inttrxt pajable In Nir York la
mid coin of the United Mates ot prsnl itanaara
w ight and uuenaia
The official tatmnt of the Company ahawi yr
stz mouth from lit July to 11st December 1SS aa
15s
I89 wo I Increase 1 je
Nit earntrri897747 17 SIROR35 88 31U08K 71 lOS
Interest on bond fOr all laonthl 10SJS OU I
Bnrploa for e month 71nlO s
For two mnntha from lit January to lit Marah 1SW
Sal 18K1 lUmatJ for Last days ot ybniry ituUi liii
ttOt 11411 Irorease p A
Net farnlllStl2lliOiT W8HOO W 37i4155 911
iDtinituu ooniti for twoKouths Sti441 07
Surplus internS for a months511581 M
Tb nndirilrnid offer theabovsboniintorsat at 55
per cent and accrued Inurut on tto clawing term
of pirmtnf
On niillnill o so CO pir bond I
illotmint wio 00jbBr bond andaeerp4InUmt
The inbicrlptlon Hit will b opn4 it I no orne > u5
the unilcniKnid on 055 morning of 4tb MareS lad will
ella on the srienoon ot nib March allotments Mac
mid M promptly 11 ponlbl thereafter
for detailed Information InTMton ir refereed to ge
proioteto luatd br the nndcraifntd whIch contains
at ontolii lUument br lbs rrtildint of the Mmnwyo
Hi Street Itillitir Company
Applloitlon will be mad to hays these boads llslt
on the New York Stack Exchange
J KENNEDY TOD CO
NEW YORK
March 4 1881
vtdtud and uttrtt
mIlK INTEREST ON TIlE FOLLOWING bONDS IS
A payable it the banking house of Mtura WiNSLOW
LAMER A co Nuua it sew York oltr onaaa
after hatch 2 1891 i
Foil KKCOVEBy OUIO
SchoolS
ORANDiRAIIDa AND INDIANA RAILROAD COM
rANl Consolidated Mortgage Si
INDIANA STATE
Bee Temp Loan Roods 84 per cent
LIMA OHIO
WaierWorkina
PITT3BORUII FIST WAYNE AND CUICAGO LU
WAY COMPANY
FIrit Mortgaf 75 Sari 0
FecunJ Morw < 7i Hrlt L
VERMIIL10N OUMV lop
County
WABASH UOLNTY IND
Gravel Road 01
MARCH 5
HAMILTON COUNTY INO 1
Gravel Boatlo 4
BIOI1LAND TOWhSUIP INDM I
tclioolO S
MARCH T 1
HAMILTON COUNTY INa i
Graveiflus4la
ilABOTl 10 4
TERMILION COUNTY IND 1
UraTl Roil 7a
WABABII COUNTY NIX I
GraTl Boad CaMARCH
MARCH U
HANCOCK COUNTY INR
Gravl io4 CIMARCH15 j
MARCH
CLEVELAND AND MAHONINO RAILWAY COO
PANT
Third Monr2t7t
UlTCBhLL IND
School 0s
COFFIN STANTON J
BANKERS r
79 BROADWAY NEW TOBK
Will pay Intereit due March 11801 upon the MlowtBf <
bond
HASTINGS N Y
Istundlng 814 per cents
CITY OF LOOANFOKT 1S13
Fuldbnr percents
CITY UP BROWIWOOD fEXa4
Water C pen cents
PAYNE OHIO
School Dtitrtct 6 pr OSnIS
CITY OF TIFYIN 0131
Improvement > S pr cent
CAFE OIEARDhAU 8UUTUW8IMM L R
Hptr cnt
BALDWIMSVILIK N V
PENNWatir 514 per cn
ERIE PENN
Refining Watse 4 pr eanti
EcKEESPORT PERN
Refunding School 434 per ceats
IS0EEESPORZ PENN
Inrroyementt34psrcents
EETNOLDTON PENN
Water < Wper emu
UNITED TERMINAL RAILWAY CO
UperctDU
OREGON IMPROVEMENT COMPANY
Tb coupons which became due Dec 11SSO oath
Pins Mortgage bond of the Oregon ImprOT aM
Company will be paid on preuntatlon and iarrndr M
the omo of the Farmer Loan and Treat Company
16 la ao and S3 William it New York oa ant Bftf
the lit day of March pros together with UUrwt spas
ths same at the rat of ilx per cent pr annum from
the date of maturity to the lit pros
B O ROL8TON Pnildrat
ns Farmen Loan and Trill Comfeaj
Nr York Feb 201B8L
HOLLAND TRUST COMPANY
1 WALL HT NEW YORK
The following coupon are parable at she elnc f
Holland Truit Company No 7 Wall it oa and alter
March Idlili
8PARTANDURO WATER WORKS COMPANY
LONO ISLAND 8BEWKRY
ELLKNVILLK GAS LIOI1T COMPANY
THOMSON PClt ANt PAPER COMPANY
RIIINELANDKR WATER CIIMfANY
Parable on and after the Ifitb teat
KANKAKBE JiLBIlTRIU COMPANY
SAGINAW ELECTK10 LIUUT AND POWER OOMV
luEO W TAN 8ICLEN Secretary
rjELAWABB AMP HUDSON CANAL COMPANY
NiWYORK 15241901
A QUAFTBRLY DIVmflff OTOI AND THRE
OUARTER IH PER CENT on lbs capital Mock of
thIs company will be paid at th office of the comMny
31 Cortiandt at In thli city on and after MON DAT
MARCH in innl Tb trmif book will ho olo4
from the cloM of builass TOUAY until th mornlsg f
Tuidajr March 17 laui Rr order of Board of e
lL JAMES C JIAKTT TreaauM
MILWAUKEE LARD ShORE WT
ltw RAILWAY COMPANY
Coupon dn March 1 pros tram lbs Ant mrtn
Aihiand division bonaiof IbeaboT company will b
paid an and after that Oat at lbs National Bask i
Commerce New
KOOLOORDOB
NORSIE
NEW YORK yen 27 isul
1ucttoiz o1Lct
AjAMEa iila AncrrioNBRR 41 uurty
ABSOLUTE sALE OF
FINK MODERN AlsO ANTIQUE OIL PAINTIKOa
SUPERB BRONZES AND STATUARY
The property of the late 4
AUSTIN OIBBONS
To be told at auction on
WEDNESDAY THURSDAY AND FRIDAY
March 46 and ft at SiWeaoh day
AT THE ART OAILERY 41 LIBERTY ST
BY ORDER OF JAMKH C LOBY EMS EZECUTO
JAMES P CAMPBELL Ebl ATT II3I8F
87 Liberty IL I
Tatalotn mailed on applUatlon
C opart ttfrghig
ritE UNI > KRBIUN < D havIng purchased th lnterBl
1 of Mr liori Owen In the rrm of U A a Owen C
Co liar lIt dy formed a nw eoiiartatnhlp ondei
th firm name of aNoW t WKhTUOTT for the surpass
of oouilnulnjt tb liailuew brtuM earning oa by Ik
laIllcmotUeMUwenCo
JAMES P SNOW
MAKCII 2 ISni C1IARLRS B W TOOfl
E3tli MTaKrGs tree cap cultIsts
trit r bojMr hrftcr kii < i nnni4l belis Ao 4y
ailudiiu lilKfcll lSrludwaj cotofriOUil
RliAllVMUiprminw CARDswladoiriTeku 5
IL cloth Jgas new deelgu for clothier ut f miter
cr5 JlrdeIocI loMlctfrota
MtLLIUIN A CIJ JJ3 Canal at New Talk
V
rzI ottcts
rib TIlS CREDITORS OF JOhN II SEAMAN C CO
JL In punaao or aa order made br lion Jotepb F
Pair Chief Jodie ot the Court or Common llai for
th City and County of New York on the IfHh day of
January IsuL nolle U I hrtby aUa to all creditor
anil praoai lacIng eialma aialnl John U 8amB
and Jhn II Miller lately dolor bcsines In the city of
New York a onpartnara nnder tbe arm nm of John
II Seatnan A Co that Obey are required to ureent
tblr claims with the Toucnr threfor duly vrifled
lo ih lubeerlber lu sniFfle of said Joint II santao
and John II Millr aicoparmri ai aforrulil forth
bnatlt gf tblr creditor at hli omr tM riro 4tray In
the city of Mw York ou or bifor tht I3ih day ot
Anrll Nil
7atel 241w York Jan sa 1891
UIRAU SNDER Aieiuee
NE1ION SMITH Attoraey for Aielgss 7 Murray
St 74w York

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