The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
.,
OFFICE OF THE ·
ATLANTIC
MUTUAL INSURANCE COMPANY.
NEW YORK, January 25th, -1892.
The Trustees, in conformity with the Charter of the Company, submit the following Statement of its aff11.irs of
31st day of December, 1891.
Premiums on Marine Risks from 1st January, 1891, to 31st December, 1891 ...... . .. .
$3,862,6,87 97
Premiums on Policies not marked off 1st Ja?uary, 1891 . . . ........ ............ . .................. . .. . .. .
1,394:,177 87
Total Marine Premiums ................................. . ............................. .. ... . ..... ·..... .
$5,256~
Premiums_marked off from 1st JanuarJ·, -1891, to 31st December, 1891. .. .' ................... . ............. .
Losses paid during the same Period. . . . . . . . . . . . . . . . . . . . • . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Returns of Premiums and Expenses .................................. ,. . ....
sa, 784, n3
1
I
aG • • ~
$1,830,325 11
$784:, 790 57
The Company has the following Assets, viz. :
United States and State of New York Stock, City, Bank and other Stock~........ . . . . . . . . . . . . . . . . . . . . . .. . .
$7,567,155 00
Loans secured by Stocks and otherwise.................................. . .... . .... . ......... . ..... . .......
2,009,100 00
Real Estate and claims due the Company, estimated at.. . ................. . ........ . .. . . . . . . . . . . . . . . . . . . .
1,083, l00 36
Premium Notes and Bills ReceivahJe.............................. . . . ... ... . . . .. .. . ..... .. .. .. .... . ........
1,4:25,030 93
Cash in Bank. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........... . . .. ........ ... .... ... .. ... ... . ..... . ........ .
193,895. 88
Amount .......... . ................ .. .... . ............. . . ... .. . ... . .. .. .......... ... . . ... . .......... $12,278,582 17
SIX PER CENT INTEREST on the outstanding certificates of profits will be paid to the holders thereof, . or
their legal representatives, on and after Tuesday, the 2d of February next.
THE OUTSTANDING CERTIFICATES OF THE ISSUE OF 1887 will be redeemed and . paid to the
holders thereof, or their legal representatives, on and after Tuesday, the 2d of February next, from which date
all interest thereon will cease.
The certificates to be produced at the time of payment and canceled.
.
A DIVIDEND OF FORTY PER CENT is declared on the net earned premiums of . the Company for the
l
\
j
I
year ending 31st December, 1891, for which certificates will be issued on and after Tuesday, the 3d of May next.
J
By order of tbe Board,
J. H. CHAPMAN, Secretary.
\
TRUSTEES:
J. D. JONES,
W. H. H. MOORE,
A. A. RAVEN,
JOSEPH H. CHAPMAN,
JAMES LOW,
WM. STURGIS,
BENJAMIN H. FIELD,
JAMES G. D FOREST,
WILLIA D ,
0
WILLIAM" . • ·
HORACE GRAY, .
WILLIAM . ~ ~~~~
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Federal Reserve Bank of St. Louis
GEORGE BLISS,
JOHN L '.RIKER,
C. A. HAND,
JOHN D. HEWLETT,
UHARLES P. BURDETT,
HENRY E. HAWLEY,
CHARLES H. MARSHALL,
CHARLES D. LEVERICH,
EDWARD FLOYD-JONES,
GEORGE H. MACY,
LAWRENCE TURNURE,
WALDRON P. BROWN,
JOHN
ANSON W. HARD,
ISAAC BELL,
N. DENTON SMITH,
THOMAS MAITLAND,
GEORGE L. NICHOLS,
GUSTAV AMSINCK,
JOSEPH AGOSTINI,
GEORGE W. CAMPBELL,
VERNON H. BROWN,
CHRISTIAN DE THOMSEN.
LEANDER N. LOVELL.
D. JONES, .President .
VV. H. H. MOORE, Vice-President.
A.
A. HAVEN, 2d Vice-President. ·
WALTER
r.
HATCH,
llENRY PnF.scoTr HATCH,
ARTBUR MELVlN HATCH.,
llember1 New York Stoek aad Produce :Exellaqea.
W. T.HATCH & SONS,
Bankers and Brokers,
No. 14Nassau..St.,NevV -Y-Ork,
.
Dealers in
· INVESTMENT SECURITIES.
Personal Attention Given at the New York Exchanges to the Purchase and Sale on
Commission of Stocks, Bonds, Grain, &c., either for Cash or on Margin.
·. l . oans Made or Negotiated Upon SatisCactory Securities.
l~terest Allowed Upon Deposits, Subject to Check Without Notice.
LIBERAL
ARRANGEMENTS
MADE
. TELEPHONE.,
SPECIAL ATTENTION
WITH
1958
PAID .TO
BANKS
AND
BANKERS.
CORTLANDT.
ORDERS FOR
INVESTMENT.
KOUNTZE BROTHERS,
E.ANJ<ERS,
120 BROADWAY, (EQUITABLE BUILDING),
NEW YORK.
Deposits received subject to Check at Sight, and Interest allowed on Balances.
Government and· other Bonds and Investment Securities Bought and Sold on
Commission.
. Telegraphic Transfers made to London and to various places in the United States.
I
Bills Drawn on the Union Bank of London.
State and Municipal Bonds Negotiated.
es made upon A.vailable Collateral.
siness Pa.per Discounted or Received as Security for Loans.
e throughout the United States and Territories, the Britb,h
e.
ons Collected.
Circular Notes Issued for the use of Travelers, availablP
I
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Federal Reserve Bank of St. Louis
CANADIAN BANK OF COMMERCE.
CAPITAL AND SURPLUS, $6,900~000.
ALEX. LAIRD AN.D WM. GRAY,
AGENTS~
No. 16 Exchange ·Place, New York.
Boy and Sell Sterling Exchange, Cable TransCers, Etc.
Issue Commercial Credits, Available in all Parts of the Wor1d~
WAYLAND TRASK & CO.,
BANKERS AND BROKERS,
18
Wall Street, New
York.
Transact a General Banking Business, including the Purchase and Sale on Commission
of Securities Dealt in at the New YGrk Stock Exchange.
WAYLAND TRASK.
THEODORE
ALFRED N. HANKIN.
BALDWIN.
BANKERS,
18 WALL STREET,
Transact a General Banking Business,
Including the Pnrckase and Sale of Stocks
&lld
Bonds for Cash or on Margin.
BUT A.ND SELL
INVESTMENT SECURITIES.
A. M. KIDDER,
H. J. MORSE,
I
CHARLES D. MA:RVIN,
W. M. KIDDER.
KISSAM, WHITNEY & CO.,
. BANKERS AND BROKERS,
15
BROAD
STREET,
NEW
(Mills Building.)
INTEREST ALLOWED ON DEPOSIT ACCOUNTS SUBJECT T
Government, State, Municipal and Railroad Securitie
Commission for Cash or upon Mar.
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Federal Reserve Bank of St. Louis
WILLIAM FAHNESTOCK,
RORERT
B. DODSON.
•
Member of New York Stock Exchange.
FAHN ESTO CK· &
co.,
BANKER S AND BROKERS .
NO. 2 WALL STREET, NEW YORI(.
Supply selected investment bonds for cash, or in exchange for marketable securities.
Execute commission orders for investors at the Stock Exchange or in t he open market.
Furnish information respecting bonds.
Dominick & Dickerma n,
BANKERS AND
BROKERS,
" '"" :SROA DWAY, a nd 9 NEW STREET.
BRA.NCH OFF ICE!!,
348 Broadway, New York,
117 Monroe Street, Chicago, Ill.,
150 Walnut Street, Cincinnati, 0.
B. D OMINICK.
W. B. DIUKERMAN.
W. G. DOMIKICK.
All Members of N. Y. 8took Exchange.
COFF IN & STAN TON,
BANKERS ,
No. 72 Broadway , N ew York.
LONDON:
43 Th read need le Street.
Dealers in Bonds of States, Jlunicipalities and Corporations.
WILLIAM H. FLAGG
JOSIAH H. REED.
REE D
No.
I I
&
FLA GG,
Pine Street, New York,
(DUNCAN
BUILDING .)
BROKERS AND DEALERS IN
Railw ay Eo:n..d s
And
Other
I:n..-v-estr o e:n..t · Secu. rities.
0rders Executed for all Securities Dealt in at the New York Stock Exchange,
1
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Federal Reserve Bank of St. Louis
JOHN · H. DA VIS & CO ..
BANKERS:,
Astor Building.
No. 10 -WALL STREET, N. Y . .
MEMBERS OF NEW YORK AND PHILADELPHIA STOCK EXCHANGES.
PIUVATE WIRES TO BOSTON, PHILADELPHIA, BALTIMORE AND CHICAGO.
Our BOND DEPARTMENT is organized and conducted with great care, and
our BUREAU OF RAILWAY INFORMATION is unusually complete.
We are thus enabled to give valuable afd to those seeking safe and profitable
INVESTMENTS.
ROBERT D. FARLEE
J. 8. FARLEE.
J. S. FARLEE & BROTHER,
No.
11
"'V\t~ALL
STREET,
NE"'\V" YORK.
P.O. Box 1466.
BROKERS AND DEA.LERS IN
INVESTMENT BONDS.
State, Municipal and Approved·
RAILROAD
BONDS
On hand for Immediate Delhery, Suitable tor SaTings Banks, Trust Funda a•d other Consenathe Inn1tmeat&.
CORRESPONDENCE SOLICITED.
Investment
Bonds
Specialty.
a
ROLSTON & BASS,
STOCKS-BONDS
AND
MISCELLAN-EOUS
W. H. ROLSTON,
Membel' ef" the New York Steek :l:xelaaa...
W. ALEX, BASS. h,,
•••a.er ot tlae New Y91'k ea... Exuanao.
EDWilf 8. HOOLBY.
GEORGE LEASK.
~ -0
SECURITIES.
Broad Street~ Ne~
P.
JULIAN W. RO;BBINS.
o.
York.
Box 3,089.
HENRY S. WARNER, Member N. Y. Stock Exchange,
LEASK & CO.,
STOCK BROKERS,
35 WALL STREET, NEW YORK.
All Securities Current at the New York Stock Exchange Bought -and Sold on
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Federal Reserve Bank of St. Louis
Commission.
GEORGE L]1:ASK & CO.,
DEALE.R S IN COMMERCIAL PAPER.
CHARLES HEAD & ·
a~.,
EA.NJ< ERB AND J3RG) K ERS,
Mills Building, 17' Broad Street, New Y~rk.
o3 State Street, Boston.
CONNECTED BY PRIVATE TELEGRAPH WIRE.
Stocks and Bonds Bought and Sol~ on @ommission.
Samuel D. Davis & Co.,
BANKER-S,
44 WALL STREET, N. Y.
11:EJIBERS N. Y. &TOCH. EXCHANGE.
Investment Securities a . Specialty.
Interest Allowed on Deposits subject to sight draft.
UBtJEL
D. DA. VI!ii,
oC WOOD & DA. VIS.
CJHA..BLBS B. V AK NOft'HAJOt.
H. CRUGER OAKLEY,
llA.YNARD C. EYRE.
JAMES WHI ELY.
THOMAS H. BOLMER,
WHITELY,
PRINCE
BANKERS AND
64 B:road way:,
BROKERS,
New
Y o:rk:._
AND
15 CENTRE STREET, NEW- HAVEN, CONN.
All Classes of Railway Stocks, also Grain, Provisions and Cotton,
Bought and Sold on Commission.
INVESTMENT SECURITIES A
SPECIALT_Y .
CHARLES T. WING & CO.,
DEALERS IN HIGH-GRADE
RAILROAD
FRANK E. WING,
HENRY A. GLASSFORD,
EDWARD N, GIBBS,
Special.
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Federal Reserve Bank of St. Louis
BONDS,
I8 Wall Street,
NEW YORK
../
MOORE
SCHLEY,
&
BANKERS AND
BROKERS9
NO. 80 BROADWAY, NEvV YOlll(.
Bember• of the New York Stoek Excbanre.
PRIVATE WIBE CONNECTIONS WITH CORRE8PONDENT9 AT
·a.nsTON', PHILADELPHIA, WASHINUTOM, D.
w.
c.,
CHICAGO, BALTIMORE AND RICHMOND
S. LAWSON & CO.,
.Bankers and Brokers,
Members New York and Philadelphia Stock Exchanges and New York Cotton Exchange.
49 EXCHANGE PLACE, N.E W YORK.
Private Wires to Boston, Philadelphia and Chicago.
TAINTOR&HOLT,
BANKERS,
No. 11 W ·all Street:,
NE\l.,. YORI{.
· Cor. N e-w Street,
Transact a General Banking and Stock Exchange Business.
Deposits Received and Interest Allowed on Balances.
Private Telegraph Wires to Providence and Bo~ton
GILES E. TAINTOR.
G. D. L'HUILIER.
GEO. H. HOLT.
Established in 1879.
WATSON & GIBSON,
BANKERS A.N.D BROKERS,
55 Br.(?adway, New York.
Stocks, Bonds and ·Petroleum Bought and Sold for Cash or on Margin.
We Issue a Daily Market Letter to our Clients.
Inquiries Cheerfully anQ Prc;>mptly Answered.
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Federal Reserve Bank of St. Louis
~
LAMPRECHT BROTHERS & CO.,
Ban..k:.ers:,
11 WALL STREET,
MORTIMER BUILDINC,
NE\V YORK.
BOSTON, 63 State St.
CLEVELAND, U3 Superior St.
DEALERS IN
:MUNICIPAL BONDS,
AND THE
ISSUES OF CORPORATIONS POSSESSING MUNIOIPAL FRANOHISES.
A General Banking Business Transacted at Cleveland.
R. T. WILSON & CO.,
Bankers and Oommission Merchants,
No. 33 Wall Street, New York.
NEGOTIATE
RAIL WA V
AN-D-- OTHER
-
SECURITIES.
.AOOOUNTS .ltEOEIVED .AND INTEREST .ALLOWED ON B.AL.ANOES. WHICH M.AY AE OHZCKBD
FOR AT SIGHT.
A. J. WEIL &
co., ·
36 -WALL STREET~ NEW YORK.
AND ST. LOUlS, Mu.
Municipal, Railroad and Water
Works Bonds a Specialty.
Bonda ef Weatern a■d iootllern C:ttle1, C:ou■tle1 and Tow•• Neaottaie•
l -~-
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Federal Reserve Bank of St. Louis
_
I
Uae . . .,
•aTo.r~• Tenn.
}
JOH~ PATON,
CO.KNELIUS C. CUYLER,
BENJAMIN GRAHAM,
FRANCIS J. PATON,
.
:MORRIS K. JESUP
Special Partner.
General Partner'1.
JOHN PATON & co.,
Successors to JESUP, PATON &
CO.,
NO. 52 WILLIAM STREET, NEW YORK.
ACCOUNTS AND ABEN CY OF BANKS, CORPORATI_ONS, FlRMS AND INDIVIDUALS
RECEIVED UPON FAVORABLE TERMS.
Bonds and Stocks Bought and Sold on C01nmission, and full information
given regarding Securities.
DIVIDENDS AND INTEREST COLLECTED AND REMITTED.
Act
as
Agents
for
Corporations
. Dividends;
also
as
in.
Paying
Transfer
Coupons and
A ·g ents.
SOUND RAILROAD AND MUNICIPAL BONDS NEGOTIATED.
Foreign Exchange Bought and Sold.
Draw on the Union Bank or London,
Bri-tlsh I .inen Company Bank, London and Scoiland.
Unitecl States National Bank,
NEW YORK.
James H. Parker-.
William P. '£hompsontt
Henry C. Hopkins,
John J • .McAulitre~
Joseph w. Harriman,
Surplus,
Accounts Invited.
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Federal Reserve Bank of St. Louis
President.
Vice-President.
Cashier.
Ass't Cashier
2d Ass't Cashier.
- - -
$1,000,000
Special Attention Civen to Collections,
DEALERS IN FOREICN EXCHANCE 11
FINANCIAL
REVIEW.
-(ANNUAL.)
1892.
COMMERCE, ·· BANKING,
INVESTMENTS.
WILLIAM B. DANA & CO., Publishers,
OFFICE
OF THE COl'tl MER CIA.L AND FIN AN CIA L
102
CD RON IC LE,
WILLIAM STREET,
NEW YORK.
[Entered according to Act of Congress, in th!} year 1892, by WILLIAM B. DANA & co., Publishers of the COMMERCU.L AND FINANCIAL
CHRONICLE, in the office 0f the Librarian of Congress, Washington, D. C.]
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Federal Reserve Bank of St. Louis
R l
l92l
CONTENTS.
PA.GE.
fletrospect of 1891. . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
I
Clearin;;-s and Speculation in 1891........... ....... .. . . . . . . .. . . .. . . . . . . . . . . .. . . .. . . .. . . . . ....... .. . . .. . . .. . . . 11
Business Cailures in 1891.................. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
Hankin;;- and Financi~I ........ .......................... .... ......... . .................................... , ....
16
Report of U. S. Secretary of Treasury.................... ...... . .. ............................................. 16
Reports of Comptroller of the Currency and of the United States Mint...•............................ . 18 and 20
New York City Bank Movements ..........•......•...•.................• . ....•......•..•..........••••••...•.. 21
Great Brita.in in 1891-Commerci&l and Financial Review ...................•...........•..••..•.••••••••• •21 and 109
Trade and Commerce-Commerce of the United States. . . . . . • . . . . . . . . . . . . . . . . . . . . . . . . . • • . . • • • . . • . . . • . • • • . . . • • • . 26
Comparative Prie.es of Merchandise, 1860, 1879 and 1888-1892. . . . . . . . . . . . . . . . . . . . • • • • • . • . . . • . . • . . • • • . . • • . • • • . • • • 26
Values of Exports and Imports of the United States and the Trade Balance for 30 years, 1862-1891..... ....... 26
Exports of Leading Articles of Domestic Produce for Four Years................................................ 26
Imports of Leading Articles of Merchandise for Four Years. .. • . . • . .. .. . . .. . • • • . . • • . .. . • . . .. . . . • • • . • • • • • • • .. . . • 2'r
Values of Imports and Exports of the United States for the calendar years 1890 and 1891...... .. . • • • • • • • • • • • • • • • 2'r
'l'he Money Market-Review of the Market-Currency and Silver Status. . • • . . . . • • . . . . . • . . . . • . . • • . . • • . • • • . . . . . . . . • 28
Prices of Call Loans and Commercial Paper, 1884-1891........... . ........ . . . . . .. . . . . . . .. .. . . • ... .. . • • •. • • . .. • • 29
Gold and Silver-Production of the United States in 1891..... ... .. .. . . . . . . .. . . . • . •. . • •. . . • .•••.•• •. • • •. • • ... • •• • 30
Product of Gold in Australasian Colonies.......... . ............................................................. :11
32
World's Gold Proda.ction since 1870. . • • ...•.....•
World's Silver Production since 1870... . . • • • . . . • . . • . . . • . . . • . . • . . . • • . • • • . . . . . . • . . . . • . . • . . • • • . . . • . . • . . . • . . . • . . • • • 3~
Fore~n Excban;-e-Prices in New York, 1876-1891. . ........ .. . . .. • . • . • • . . . • .. . . . . . • .. . . .. . • •. • • •. . • .. .. •. . • • . • • • 33
Investments and Speculation.............. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
Compound-Interest Table, Showing the Accumulation of Money in a Series of Years. . . . • • . . • • . . • . . . • • • . • • • • • • • • 3D
Table Showing the Rate Per Cent Realized on Stocks Purchased at Different Prices.. • • • . . • • . . . • . . • • . . . • • • • . • • • 40
Stock Speculation in New York. • . • • • . . • • . . . • . . . . • • . . . . . . . . . . • . . . . . . • • • . . . . . . . . . • • • . . . . • • • . • • • . • • • • • • • • . • • • • • • 42
United States Debt and Securities-Debt of the United States, 1793-1891......... ... ... • . ... • .. . • • .. • •• • • ... •• 43
Highest and Lowest Prices of United States Bonds, monthly, 1860-1891........... •. . • • • • • •. • • • . • • •• . • • . • • • • . • • • • 44
State Securities-Highest and Lowest Q a.ota.tions of State Securities, 1860-1891.. . • . . . . . . . . • . • • • . . . • . . • • . . • . . • • • . • • • 63
llailroads and Their Securities-Railroad Statistics for the United States.......................... • •. . . •• • • • 69
Railroad Earnings in 1890 and 1891.... •. . . • . . . . . . . . . • . . • .. • • •. . • . • • • •. . . • . • . . . . . . . . • • •. • • •. . . . . • . •• . • . • • • • . • • • 60
Highest and Lowest Pric~ of Railroad Bonds in New York, monthly, for five years, 1887-1891.... . • •. • • • . . • • . • . • 61
New York Stock Market, five years, 1887-1891.......... .. . . • . . . .. . • .. • • .. . . .. • • . . . . •. . • .. . • .. •• • . • • .. • • .• . • •. . • • 90
Highest and Lowest Prices of Railroad and Miscellaneous Stocks in New York, monthly, 1887-1891.......... •• • • • 9~
Highest and Lowest Prices of Railroad Bonds in Boston, monthly, in 1891. .. . . . . . . . . . . . • . . . . . . . • • . . . . . . • . . . • . .•• 104
Highest and Lowest Prices of Railroad Stocks in Boston, monthly, in 1891. ...................................... 10:i
Highest and Lowest Priees of Bonds in Phila.delphia,, monthly, in 1891 ...••• . ..••...........•......•..•...•.•.•.• 108
Highest and Lowest Prices of Stocks in Philadelphia, monthly, in 1891................... • ••.••......•••••.•.• IO'r
Highest and Lowest Prices of Railroad Bonds in Baltimore, monthly, in 1891. ........... . •..••.•.•.••••.••.••••••• 108
Highest and Lowest Prices of R11.ilroad Stocks in Baltimore, monthly, in 1891 ..•...•....•....••.•....•..••..•••••• 108
Reports of Trust Companies in New York and Brooklyn ........................................... .. 110
Tbe Investors' Supplement ................................................................. ............ ... APPENDIX
I
Article Showing Dividends for Seven Years on Railroad Stocks in New York, Boston, Philadelphia and Baltimore..
Railroad Stocks and Bonds-De!cription and F~nancial Condition of Companies, with Earnings, Maps, &c... •• ••
N. Y. & Brooklyn Trust Companies........................................ . . . . . . . . . • . . . . . . • .. . . . ••••.• •• • • • •
VI
CLI
New York Bank Stock Table.................... . . . . . . . . . • . • • . . . . . . . . . . . . . . . . . . . . • • • . . • . • • • . . . . . . . • . . • • • • • • • CLII
New York Insurance Stock List. . • • . • . . . . . . . • • . . • . . • . . . . • . . • • . . • • . . • • . . • . . . • • . . • • . . • • . . . . . • • . • • . . . . • • • • • . • • . • CLII .
City Horse Railroad Stocks and Bonds. . • • . • • • . . • • . . . • . • • • . . • . . . • • . . • . • • • . . • • . . . . . . . • . . . • . . . . . . • . . • • • • • • . . • • • • • CLII
New York and Brooklyn Gas Companies' Stocks and Bonds.............................................. . ....... CLU
Railroad Gross &rnings by months for Four Years Past on Leading Roads .. , •...• , •.••..••..•• . ..•.•••.•.••••••• CLIII
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Federal Reserve Bank of St. Louis
THE
FINANCIAL
REVI~EW.
1892.
From the first of August there was a radical change
RETROSPECT OF 1891.
1
At the opening of the year 1891 the financial markets · in sentiment, based almost entirely on the superb crop
of the world were recovering from the shock produced prospects in this country, which had never been equaled,
by the embarrassment of Baring Bros. & Co. in the and the failure of crops in France and Russia, leading
November preceding. The Bank of England rate still to an immense export demand at high prices. From
remained as high as 5 per cent, and the feeling both at latest figures obtained the yield of wheat in the United
home and abroad was sensitive, although decidedly States is estimated at 611, 7_80,000 bushels against
hopeful. Viewing the year as a whole, so far as busi- 399,262,000 in 1890; corn at 2,060,154,000 bushels,
ness interests were concerned, it was divided quite dis- against 1,489,970,000 in 1890; oats at 738,394,000
tinctly into two parts, differing very materially in the bushels, against 523,621,000 in 1890; cotton (by brokers'
sentiment prevailing and to a less extent in the results estimates) a.t 8,400,000 bales or upwards, against
produced. The first seven months formed a period of 8,655,518 in J PPO ~nd '1.313, 726 in 1889, which was
depression, low prices and meagre profits. The last five the largest crop on record prior to 1890. The exportB
months were marked by a decided hopefulness in tone, of wheat (including flour reduced to wheat) for the last
extraordinary buoyancy at times in Stock Exchange six ·months of 1891 were about 128,700,000 bushels,
securities, and a moderate improvement in business against 47,000,000 in 1890, 78,000,000 in 1886, 110,837,towards the close of the year in all parts of the country 1 978 in 1880, and 115,125,272 in 1879, which were the
largest half-year exports on record. The Russian ukase
except the South.
In January Congress was still agitating the silver against exports of rye was issued August 10, and that
question and a bill for free coinage even passed the against the export of wheat on November 21.
Gold exports ceased in ,July; the trade balance sharply
Senate. There was also much doubt as to the working
of the silver law of 1890, and until Congress adjourned turned; gold imports began in large volume in Septemon March 4th the possibility of further silver legislation her, and from that month till the end of December the
yet threw its shadow of uncertainty over the business net importation of gold amounted to about $37,500,000.
community. The cereal crops in 1890 had been a The improvement in stocks and bonds began on
partial failure and our export of breadstuffs in the first the first day of August, and from that time until
half of 1891 was small, while the W rstern farmers were the end of September there was a movement
!Aeling the scarcity of money. The cotton crop had of activity and buoyancy at the Stock Exchange
been large beyond all precedent, but prices were con- that never met with a serious reaction. In Ocstantly declining as the extent of the yield was unfolded tober there was a downward turn, followed by
by the.large weekly receipts. Imports of merchandise sluggishness and lack of confidence, but in December
into the country were still heavy, partly stimulated by buoyancy ~gain set in and the year closed with a feeling
exceptional circumstances, as for instance the duty on tin of great cheerfulness. The doubtful succe~s of the
plates, which under the McKinley law went into effect Russian loan of £19,775,000 offered in Paris in OctoJ uly 1, and so greatly forced the imports prior to that date her, and the subsequent condition of financial affairs in
tbat for the first half of 1891 the amount was $22,668,- Continental cities, including the failure of bankers in
170, against only $10,591,938 in the first half of 1890. Berlin, kept the foreign markets quite unsettled till
There was no demand for American securities from late in the fall.
Manufacturing and mercantile interests did not exforeign investors, owing partly to the unsettled condition of affairs abroad and partly to the lack of confi- perience the full benefits to arise from the fine crop
dence shown in our own markets. Under these condi- yield of 1891. While Stock Exchange business was
tions large exports of gold began in February and lasted booming general trade was dull except in the immense
till late in July, when the net total exported amounted receipts and exports of wheat, and goods were selling
to $72,787,666. Trade and manufacture were dull and at very low prices. Money was not yet distributed
prices very low; the production of pig iron, which is from the sale of grain in the West, and the whole
nsunlly accepted as one indication of the extent of in- South, as well as all cotton interests, were suffering
dustrial activity, fell off most remarkably, and for the during the Fall under the steadily declining prices of
first half of 1891 the output was only 3,772,280 tons, cotton, which were forced by the eagerness in pushing
against 5,107,775 tons in the same time of 1890. There the crop to market with a rapidity never before known.
was depression in mercantile business and at the Stock The iron trade began to pick up in early summer, and
Exchange, and the extreme prices in the downward in the latter part of the year more furnaces went in blast
movement of many stocks were reached in the last and the output was increased under the large demand
few days of July. Business failures in the first six from railroads and the better trade outlook for 1892.
months of 1891 involved liabilities of $92,416,267, Business failures in the last six months of 1891 aggregated $97,452,371 in liabilities against $124,537,580
against $65,319,384 in 1890.
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Federal Reserve Bank of St. Louis
RETROSPECT.
2
in 1890, the latter period covering the Baring
crisis.
The banking and currency machinery were subject
to no great strain during this year. There were outstanding at the close of 1890 a considerable amount of
bank clearing house certificates in New York, Bosto_n
and Philadelphia which had been issued in the stress of
the last two months of that year, but most of these were
speedily retired, except small amounts issued to banks
that failed. Under the silver law of July, 1890, the
purchase of 4,500,000 ounces of silver per month was
made by the U. S. Treasury and legal-tender notes payable in coin issued therefor, thus ad<ling each month to
the currency in circulation; the coinage of silver dollars under the previous law ceased on July 1, 1891.
Of the $50,869,200 United States 4½ per cent bonds due
September 1, 1891, the Secretary of the Treasury prior
to September 30 had continued $25,36-4,500 of them at 2
per cent interest, and redeemed $17,987,800 in cash,
the balance unpresented remaining to be so redeemed:
Immigration into the United States for the calendar
year, not including that from Canada or Mexico, numbered 590,666 persons against 491,026 in 1890. The
sales of public lands in the year ending June 30 were
8,151,939 acres, against 10,621,652 in 1889-90.
Railroad building was not at all active and consisted
. mainly in the construction of branches and finishing
up of lines already projected by the larger companies
of sound credit; the total mileage built was estimated at
4,168 miles against 5,738 in 1890.
The production of anthracite coal was very heavy,
amounting to 40,448,336 tons against 35,855,174,
and there was no large accumulation of stocks at tidewater at the close of the year. The petroleum product
in the old pipe line districts was stated at 34,486,923 bbls., against 29,130,751.
For the purpose of showing at a glance the industrial
and financial statistics, which present a sharp comparison of the two years 1891 and 1890, the table below is
brought forward.
GENERAL suMMARY YOR Two YE.Ans.
1890.
1891.
Coin and currency in U.S. Dec. 31..1 1,712,220,917 1,748,684,894
Bank clearings in United States .... . 60,829,0~0,002 56,636.836,237
189,856,964
189,868 ,638
Business failures ......... .. ......... .
71,282,885
69,031,689
Sales at N. Y. Stock Exchange.shares.
27,332,329
Sales at Consol'ted E.x change.shares.
24,328~000
2,946,000
Petroleum cert's at N. Y. St'k Eit.bbls.
17,525,000
"
"
at Consol. Ex. bbls.
1,821,290,225
2,231,975,531
Grain and flour at Prod. E xch'e.busb.
26,692,000
· Cotton at Cotton E ~change ..... bales.
23,926,5001
823,397,726
828,312,646
Imports of merchandise ...........
857,502,548
970,506,282
E" ports of merchandise . ...... ..... .
3,832,984
34,118,202
Net export!-! of gold ................. .
896,603,011
940,456,097
Gross earmngs 201 roads .••....... . .
5,738
est. 4,168
Railroad constructed ...... ...... miles.
399,262,000
Wlleat raised ............. ..... bushels.
611,780,000
Corn raised ............ ...... .. bushels. 1,489,970,000 2,060,154,000
8,655,518
· Cotton raised . ............. . .... _bales.
10,307,028
9,273:455
Pig iron produced (tons of 2,000 lbs.)
2,091,978
est. 1,400,000
Steel rails, Bessemer. (tons 2,000 lbs.)
35,855,184
40,448,336
Anthracite coal... (tons of 2,240 lbs.)
29,130,751
34,486,923
Petroleum (runs) production . .. . bbls.
491,026
Immigration into United States ..... .
590,666
10,621,652
8,151,939
Pub.land sales (yr.end'g June30)acres
··1
NOTE -The sales at the New York Stock Exchange include all shares
of stock except bank stocks and all Trosts except petroleum certificates
sold in barrels. Bales at the Consolidated Exchange bo th in the case of
railroad stocks and in the case of pipe -line certitl.c:ates repr esent for
181:11 the actual sales as compile1 byus from the daily transactions; the
~ales 1.;f -petroleum ce1tit1cates cover a,Jso Bncke:ve certificates.
Ora.in and fl.our at the Produce Exchange include fl.our reduced to wheat
at 412 bushPls Per barrel. Cotton sales at the Cotton Exchange do not
include "excban~es" of futures. Immigration statistics are given
exclusive of immigrants from Canada or Mexico.
,. This includes 53 roads whtch had reported comparisons only for
eleven month8.
The table next below shows what may be ealled the
mercantile conclusions of the year, or the business failures as compared with other years since ·1877. There
are no statistics to show the profits of private business
in any particular year, although dividends show the
profits of corporations to a certain extent, but the num
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Federal Reserve Bank of St. Louis
ber aud the amounts involved in business failures are
Iaccepted as an approximate indication of the prosperity
or lack of prosperity in general business operations.
The main facts of the year previously commented upon
furnish sufficient reasons for the lack of animation and
the dragging markets in the first six months. Not only
was there scarcity of funds among"purchasers and consumers, low prices fo1~ goods and meagre profits, but the
markets were also under some apprehension of trouble
to arise from the large gold exports, which were vaguely
connected in the public mind with our silver law and its
possible future working. After the turn of the tide on
the first of August, and when the Stock Exchange was
enjoying its boom of prosperity, there was no great
improvement in trade and manufactures, and so far as
it concerned the actual distribution of goods at better
prices there was comparatively little improvement till
the latter part of the year, when the excellent financial
outlook for 1892 gave a better tone to everything except
cotton interests.
At the several Exchanges the dealings showed quite
different results. At the Stock Exchange the chief
periods of activity with rising values were early in
January, again in April; then in August and September, and finally in the last half of December. The
total sales of the year included 69,031,689 shares of
stock (not including bank stocks) against 71,282,885
in 1890, and $383,715,000 of railroad and miscellaneous
bonds against $401,829,220 in 1890.
At the Produce Exchange there was little of interest
early in the year and there were but small crops of 1890
to deal in. But after the prospects of our winter-wheat
crop became pretty well ascertained, and the failure of
crops in Europe became known, there was a Ii vely business in wheat futures. Very high prices for wheat
futures were reached after the tenth of August, when
the Russian ukase was issued forbidding exports of
rye from that country, and although prices afterward
fell off materially under the enormous receipts of spring
wheat in the Northwest, business was active throughout
the year. Sales of wheat ( cash and futures) amounted
to 1,693,353,000 bushels, against 1,238,425,000 in 1890;
sales of corn, 403,011,000 bushels, against 431,126,000
in 1890.
The Cotton Exchange had a most active year. The
crop of 1890 turned out to be 8,655,518 bales, or 1,341,792 bales larger than the biggest previous crop, that
of 1889, which was 7,313,726 bales. The crop of 1891
was hurried to market very rapidly, forcing prices
down and stimulating active speculative operations by
bulls and bears. The price of cotton declined to the
lowest point known in forty-three years, the downward
move ending in a break of about 30 points in futures
in the last week of the year. Total sales of futures at
the N. Y. Cotton Exchange amounteo. to 26,692,300
bales, against 23,926,500 in 1890.
There were 25 banks with capital of $3,662,000 that
failed in the twelve months ending Oct. 31, these including the banks in Philadelphia, but not the Maverick in Boston. Of these there were 13 banks with a
capital of $1,137,000 in Kansas and Nebraska, whose
failure Comptroller Lacey attributes mainly to the
successive crop failures.
The other failures of the year included only a few concerns of much prominence. Among these was the firm
of S. V. White & Co., whose suspension on September 22nd was caused by a futile effort to corner
the price of September corn in Chicago.
The
Maverick National Bank in Boston closed its do-0ra
RETROSPECT.
on Nov. 2, the failure having been caused by private
speculations of the President and some of the directors.
Field, Lindley, Wiechers & Co., members of the Stock
and Produce Exchanges, failed on Nov. 27, their disaster having been precipitated at the last by the extraordinary financial vagaries of the head of the firm,
whose transactions have never been unraveled or explained to the public.
The following table shows the failures in each quarter
for every year since 1877 :
3
The latest repoct of the Bureau made on Jan. 6, 1892, gave
the following summary :
Corn--.Area, 76,204,515 acres; p!."oduct, 2,060,154,000 bush•
els ; value, $836,439,228.
Wheat-Area, 39,916,897 acres; product, 611,780,000 bush•
els; value, $513,472,711.
Oats-.Area, 25,581,861 acres; product, 738,394,000 bUBhels;
value, $232,312.267.
" The aggregate of all cereals is the largest yet produced,
and will supply 54 to 55 bushels per unit of population. The
wheat supply is the largest ever reported in proportion to population, averagi g, 9·4 bushels to each person, against 9·2 for
the largest previous crop, in 1884."
CROPS OF W HEAT, CORN, OATS .AND COTTON SINCE
1876.
MERCANTILE FAILURES IN THE UNITED STATES.
Year.
Years.,lst Quarter, [2d Quarter. 3d Quarter. 4th Quarter. Total Year.
1878 .
1879.
1880.
1881 .
1882.
1883.
1884.
1885 .
1 886 .
1887.
1888 .
1889 .
1890 .
1891 •
$82,078,826 $48,753,940 $66,378,363 $37,172,003 $234,383,132
43,112,665 1 22,666,725 15,275,550 17,094,113
98,149,053
12,777,074 20,111,689 12,121,422 20,741,815
65,752,000
24,447,250 16,499,395 10,112,365 30,096,922
81,155,932
33,338,271 17,242,649 18,942,893 32,023,751 101,547,564
38,372,643 27,816,391 52,072,884 54,612,254 172,874,172
40,186,978 84,204,304 56,627,821 4.5,324,324 226,343,427
46,121,051 28,601,304 23,874,391 25,623,575 124,220,321
29,681,726 20,752,734 27,227,630 36,982,029 114,644,119
32,161,762122,976,330 73,022,556 39,400,2961167,560,944
38,884,789 29,229,370 22,114,254 33,601,560 123,829,973
42,972,516 22,856,337 39,227,045 43,728,439 148,784,337
37,852,968 27,466,416 35,452,436 89,085,144 189,856,964
42,167,631 50,248,636 44,302,494 53,149,877 189,868,638
On the first of January it is interesting to compare
the general situation with previous years, and note the
differences which have taken place in the bank figures,
the prices of securities, staple articles of merchandise,
&c. The following summary shows the condition of
the New York City Clearing-House Banks, rates of
foreign exchange and prices of leading securities and
articles of merchandise on or about Jan. 2 for three
years.
SUMMARY ON OR ABOUT JANUARY 2 IN 1890, 1891 AND 18°2.
1890.
1891.
1892.
- - - - - - - - - - - - - ·- - -·-•-1----N. Y. 0 ity Ban k8
Loans and discounts ..••.••••. $
Bpt!Oie .•..••.••••••••••.• •.•• .. $
C irculation .••...•..••.•... •.. .. &:
Net deposits .. .•••.••.•••...•.. . $
Legal ten<lers .•••.•••.••.....•. $
Le>!»l reserve .••..••...•....••. !!'
ReRervt, held .••..•.•••.••••••.. !f'
Surplus rest,rve .•... ••• .••...•. $
399,689,30 1
77,427,ti00
3,731-1,500
409,652,400
rn,741,500
l02,413,100
L04, 169,100
1,756,0CJ0
385,678,500 4.38,616 400
78,6ti3,200 95,972,:t00
3,599,H00
5,537,40
3"'6,632, 100 466,218, ·.WO
26,571,700 37,814.4<.0
96,6: 8,025 .116,fl64 550
105,234,900 133,786,H00
8,57t>,875 ;L 7,232,050
f10!:~~~.~~~: .~~~~~~-::.... ....
Mc~f
5 1»45
5 @ 8
Prime papt,t\ 60 days...........
53412> 6¼
6¼@ 712
81lvn in London , per oz ••..•• .
4 -P -ad.
4818 d.
Silver ('er rit1ca1es in N. Y. .... . .
. . .. . .
l0-112 - 105
Prime ~ tt'rlli g bills (demand) . . 4 84¼@4 85
4 85
Ur,ited Statts Bunds6s, currency. lt:98 ..............
124 bid.
118 bid.
28 regiSt e rtd .....•••..••.. •• . • • .
1· :;6· ·b·l·d·.
12·.1... b.·1··d.
4s of U/07, ouupon.... . • . • . • . • • .
,,_
Railrnad t;•ocksN. Y. Cer tr11l & Hudson River.
1013a
Erie (N. Y. L. E. & W.) . •.•••. .
1918
J,ake Shore & Mioui~anSouth'n.
106 14
MicbigaIJ Central. .•........... .
91
Cnica~o Rock li,land & Pacific.
703a
Illinois Centrttl • . . . • . . . . . • . . ...
97
Chioa#?" & Northwe~tern,com . .
104~
Chio. l\Ulwaukee & St. P . com . .
51
Dd11wo11e Lackawanna & West.
131¼
Ct nt,alor NewJe,:sey .•••..••• .
10612
x~rch1mdtae-
3
4%1D 5¼
.4.ll!sd.
95
. 4 84 ½I
115¼bid.
100 bid.
116¼bid.
116%
34¼
123¼
106
8914
10912
116½
8258
139
113
l'ottun, mi<ldling•upl'ds, per lb.
1014
951 6
758
Staudard sbAt>tiIJ 6 s, 36 in......
712
7 14
634
'\\ool, Obio xx ...............lb. 33¼1i>34.
33 '<il::$<!
30 @.H
Iron, Amnican plg, No. l..ton . 19 5 -20 50 16 50-17 50 16 00-17 00
Btt-t-lrailsatmlll, .......... ton
3500
Nminal.
3000
Wt11~11t,No.2redwinter .. busb..
85%
10334
10434
Corn.We~t.mixedNo.2 .. buRll.
39%
59
5214
Pork, m~ss ... .. .....•.. . per bbl.
10 25
ll 50@12
10 lJO
p..,,.rolA nm Pipe LtnA cerrifl.',., .
l 03
74
60
AGRICULTURAL PRODUCTS.
The products of the soil in the United States in 1891 far exceeded in abundance those of any previous year, and never
did the results of the harvest have a more decided effect on
business interests throughout the country. Winter wheat had
an excellent promise from the start, and spring wheat in the
Northwestern States gave a yield that was quite unprecedented.
There was never any serious injury from drought, and the
estimated production of both sorts is 611,780,000 bushels
against 399,~62,000 bushels in 1890 and 512,765,000 in
1884, which was the largest previous yield. The yield of corn
is estimated at 2,080,154,000 bushels, against 1,489,9i0,000 in
1890 and 2,112,892.00G in 1889, the only previous year in
which · the yield had exceeded two thousand millions. The
crop of oats is estimate4 at 7R8,394,000, against 523,621,000 in
1890. and 751,515,000 in 1889, the largest pl'evious record. From
the Agricultural Bureau latest reports the average yield per
acre is :figured us as follows : Wheat, 15·3 bushels ; oats, 28·9 ;
barley, 25·8; rye, 14·4; corn, 27·0, and potatoes, 93·9 bushels.
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Federal Reserve Bank of St. Louis
1877..........
1878 . . . . . . . • .
1879 (Census)
1880 ........•.
1 881. .........
1882.. .. .. . .. .
1883..........
1884 .... . .... .
1 , 8 5 .•........
1 886 ..... . ..•.
1887 ..... .. ...
1888 ..... . ....
1889 ...•......
1890 ..........
1 891. .........
Wheat.
Corn.
Oats.
Cotton.
I 364,194,146
Bush.
Bush.
l ,342,558,000
1,388,218,750
1,754,591,676
1, 717,4.34,543
1,194,916,000
1,617,025,100
1,551,066,895
1,795,528,000
1,936,176,000
1,665,441,000
1,456,161,000
1,987,790,000
2,112,892,000
1,489,970,000
2,060,154,000
Bush.
406,394,000
413,578,560
407,858,999
417,885,380
416,481,000
488,250,610
571,302,400
5 3,628,000
629,409,000
624,134,000
659,618,000
701,735,000
751,515,000
523,621,000
738,394,000
Bales.
4,811,265
5,073,531
5,757,397
6,589,329
5,435,845
6,992,234
5,714,052
5,669,021
6,550,215
6,513,623
7,017,707
6,935,0i:l2
7,313,726
8,655,618
- - . - -... --
I
42 ,122,400
459 ,483,137
4 9 ,549,868
3 ,280,090
50 4 ,185,470
421,086,160
51 ,765,000
357,112,000
457,218,000
45 6,329,000
415 ,868,000
490,560,000
399,262,000
611,780,000
..
Most fortunately for our farmers the heavy yield of crops
was not accompanied by low prices in the market, as is too
often the case, but the partial failure of the wheat crop in
France and the failure of rye in Russia, with the ukases prohibiting first the exports of rye and subsequently the exports
of other grains, including wheat, caused a very large export
demand from E rope, which sustained prices remarkably in
this country.
With cotton fanters the case was very different. Theimmense crop of 1890 had depressed prices to very low figures,
and all who had held cotton during the y~ar lost money. The
crop of 1891 was believed to be much less than that of 1890,
but owing to the losses of planters and their money require•
ments it was rushed to market with a rapidity never before
known, and the crop "in sight" up to Jan. 1, 1892, was
6,400,051 bales, or 508,260 bales more than in the great
crop year 1890-91. Thi::; depressed prices very seriously,
and late in December middling uplands sold at 7¾' cents and
January cotton as low as 7·34 cents. As to prices of products
received on farms and plantations, the .Agricultural Bureau
report gave the following estimates compared with previous
years:
A VEIL<I.GE PRIC~S REC1'.IVED BY FARMERS AND PLANTERS.
1889.
1890.
1891.
68·8
45·7
23·0
42·7
28·3
8·6
83·8
62·9
42·4
64·8
50·6
8·6
83·9
77·4
81·5
54·0
40·6
7·3
-------------1- - - - -·Cents. Cents. Cents.
Wheat, per bushel .... . ...............•.........
Rye, per bu hel .......... ..•... .. . ...........
Oats, per bushel. . .............................. .
Barley, per bush 1. ........................... .
Corn, per bushel.. ............................. .
Cotton, per pound ......................... . . .
Taking the values m New York City about the 1st of January following the crop, we find that if the whole of each
crop could have been laid down in New York at that
date the values would have beien approximately as follows :
ESTillATg
F CROP VALUES IN NEW YORK ON JANUARY l.
Crop of 181:ll.
Value of
Crop.
Crop of 1890.
Yield.
Price
J1tn .'Pl
cts.
$
cts.
Wheat.bush. 611,TS0,0O0 1041}.( 640,889,550 399,262,000 l<i3~
Corn .. . bush. 2,060,151,000 52!4 1,076,430,465 l,489,{170,000 59
Cotton.bales ............. , . ....... 825,000,000
8,655,518 !l 5·16
Value of
Crop.
$
414,284.825
879,08·~,300
402,896,004
Total values .. .. . • . .. .. . . . . • .. .. 2,042,270,015 . . . ................ . 1,69t\212,6:.!9
Exports of the year were immense. During the first six
months the exports of breadstuffs were small, owing to the
limited surplus of 1890. But with the incoming of new win•
ter wheat in July and the sharp demand from abroad a great
movement began, and in the six months from July 1 to Dec.
31 the exports of wheat from the United States (including
flour reduced to wheat) amounted to about 128,700,000 bUBhels,
against 47,102, 39 bushels for the same time in 1890 and 78,022,111 bushels in 1886, which was the heaviest since 1~80.
Cotton expo1· s were heavy throughout, the exports for
the crop year, 12 months ending August 31, 1891, being
5,790,634 bales against 4,916,847 the previous year, and for the
four months of the new crop year (Sept. 1 to Dec. 81) 8,105,256 bales, against 3,021,201 in 1890.
RETROSPECT.
4
I
EXPORTS OF FLOUR, WHEAT, CORN AND COTTON SINCE 1880.
Wheat Flour.
Year ended June 30.
Barrels.
1881.... . ............
1882... .... .... .. ... .
1883... .... .. .. . . . . ..
1884 ......... ·-... . ..
1885.... . ............
1886... -· .. .. .. .. .. ..
1887..... _...........
1888 ................. ,
1889............... ..
1890.. .•..••.. .••....
1891. .. : . ··········•
7,945,786
5,915,686
9,205,664
9,152,260
10,648,145
8,179,241
11,518,449
11,963,574
9,374,803
12,231,711
11,344,304
Wheat.
Bushels.
Corn.
Bushels.
Cotton
Bales.
150,565,477 91,908,175
95,271,802 43,184,915
106,385,828 40,58 6,825
70,349,012 45,247,490
84,653,714 51,834,416
57,759,209 63,655,433
101,971,949 40,307,252
65,789,261 24,278,417
46,414,129 69,592,929
54,387,767 101,973,717
55,131,948 30,768,213
4,549,743
3,694,706
4,626,808
3,884.233
3,969,568
4,283,723
4,499,579
4,696,017
4,872,060
5,020,913
5,820,779
UNITED STATES PUBLIC LANDS.
The sales of public lands have been diminishing for some
years, probably owing to the fact that much of the best land
has been taken up, and also because the sales a few years ago
were too large to be kept up, and the profits of agriculture
have not been sufficient to encourage continued purchases on
the same scale. The States which just now are showing
larger totals than any others are those on the Pacific Coast.
Thus in California the disposals in the last year ending June
80, 1891, were 797,558 acres, in Oregon 728,848 acres and in
Washington 909,056 acres, giving these three States 2,484,957
out of a total of 8,151,989 acres for all the States and Territories, or 80 per cent of the whole. In the case of both Washngton and Oregon the disposals are the largest in all recent
years.
There are no U. S. public lands in Texas, but as to other
States and Territories the table following will show how the
tales have been distributed in different localities for a series
of years past:
DISPOSALS OF PUBLIC LANDS FOR CASH AND UNDER THE HOMESTEAD
A.ND TIMBER CULTURE LAWS BY FISCAL YEARS FROM JULY 1,
1884, TO JUNE 30, 1891.
s~;~:.&
Ala .....
Arizo'a.
Arkans.
Califor.
Colora ..
Dakota-
1884-5,
1885-6.
1886-7•
. . :. ~-~ f
.Acres,
..4.cres.
.Acres.
.Acres.
~'38-9.
1
1889-90. r 1890.91.
A.Crea.
AC--;;;:- ~
191,476
224,913
60-l,852
532,693
238,126
160,076
152,688
264,620
128,531
144,893
244,263
276,801
562,982
411,645
370,762
897,834
954,193 1,276,808 1,687,064 1,008,161
552,599 1,254,848 2,526,699 2,629,118 1,626,881
:.·~::}
Florida.
Idaho...
Iowa....
Indiana
Ind.Tar.
Illinois..
Kansas.
Louls'a .
Mioh'gn
Minn'ta
Miss'pi..
.Mis~•r1. .
Montan
Nebras ..
Nevada.
N. Mex.
Ohio....
Oregon.
Utah...
Wash...
W1soon.
Wyomg.
~-;:-
823,550
117,843
889,689
776,268
9~9,237
383,fl02
69,127
806,717
797,558
535,904
8,744,18t3 3,006,449 2,068,760 1,698,828 l 668 0" 0 { 442,330
'
' I
692,667
273,031
216,258
129,090
226,868
85,500
153,880
284,908
262,450
237,848
250,698
272,587
296,850
5,645
4,257
3,514
27,500
8,508
8,874
.. .. .. ..
• . . .. ..
182
4
108
. .. • .. ..
........
..... ...
........
.... ....
905,544 1,088,691
........
.. . . • ..
39
• • .. .. ..
121
196
2,882,401 5,541,251 8,719,441 2,552,530 1,276,424
696,049
159,590
140,756
850,312
607,483
lVl,496
167,611
81,778
1(•4,829
184,522
117,211
154,812
120,619
505,101
411,539
670,577
466,419
321,781
277,750
111,000
127,779
218,605
554,155
181,941
283,767
279,994
264,576
225,832
177,460
182,141J
187,787
318,601
263,974
258,465
223,800
248,080
814,o62
3,515,705 8,037,714 2,518,620 2,186,192 1,636,687 1,25-0,192
8,637
3,111
2,tl98
8.855
2,85tl
4-,133
162,5L'5
201,450
140,220
150,8!!7
188,475
170,580
....... .
........
.. . . . . . .
240
240
186
407,859
495,216
4,56,451
508,:149
527,886
654,101
167,780
IIH,885
141,828
191,855
131,146
161 ,810
480,181
473,044
432,485
520,820
822,8581 903,0651
166,177
237,546
301,658
189,120
116,288
87,407
M2,807
452,777
282,087
242,147
226,101
188,158
830,071
470,758
126,711
339,261
4,b65
1
288,848
288,729
206,410
294,:151
575,578
8,919
157,695
2~5
728,848
126,947
909,056
177,542
162,327
In the table following are shown the sales and the free
entries under the homestead and timber culture acts in each
fiscal year ending June 80 for fifteen years.
UNITED STATES PUBLIC LAND SALES FOR F I F TEEN YEARS.
·- - - - l
For
Cash.
1 8'77 ... . ..... . ..
A cres .
740,687
1 878 . .. .. .. .. . . .
1 879 .. . . . ...... .
1 880 . ..... . . .. . .
1 8 81 . . ......... .
1 882 ....... . . . ..
1 883 . .... . ......
1 884 . . .. .. ......
1 885 ............
1 886 . .. .. .. •. ...
1 887 .. .. . .... • ..
1 888 .. . ......•..
1 889 ... . .... ... .
1 890 ..... . .•....
1 891 .......... . .
877,555
622,574
8 50,741
1,587,618
3,611,531
5,547,610
6,317,847
3,912,450
3,773,498
5,587,910
5,907,155
3,881,305
3,302,571
2,142,539
Homestead
Entries.
I
Timber
Cult ure
Ent ries.
Acres.
2,698,771
4,418,345
5,260,111
6,04 5,570
5,028 ,101
6,348,045
8 ,171,715
7,831,510
7,415,886
9,145,135
7,594,350
6,676,616
6,029,230
5,531,678
5,040,394
1 ,870,434
2,766,574
2,193,184
1,763,799
2,566,686
3,110,930
4,084 ,464
4,755,005
5,391,309
4,224,398
3,735,305
2,551,069
1,787,403
969,006
Total .
Acr es.
3,4 39,458
7,166,334
8,649,25 9
9,089,495
8 ,379,518
12,526,262
16,8 30,255
18,233,821
16,08 3,341
18,309,942
17,406,658
16,319,076
12,461,604
10,621,652
8,151,939
MANUFACTURES, IRON, COAL, PETROLEUM.
Cotton manufactures for the year· ending with August, as
reviewed in the CHRONICLE'S annual cotton crop report,
showed an estimated consumption of raw cotton, North and
outh, amounting to ~.580,916 bales, against 2,849,478 in 188990, The trade was depressed, however, by the constantly declin-
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Federal Reserve Bank of St. Louis
IRON A.ND STEIH, l' RODUCT SINCE 1879.
B essemer
Bessemer
Pig Iron.
Steel Ingots.
Steel Rails.
Tons of 2,000 lbs. Tons of 2,000 lbs. Tons of 2,000 lbs.
Years.
1880...... . . ... .
1881.. .... . .... .
1882 .. . ... . .... .
1883 ...... . . ... .
1884........ . .. .
1885
.. . ...... . . .
8 1886...
.. . . .. .. .
296,874 1887.. . ........ .
516 1888 .. .... .. .. . .
8'i'5,651 1889 ... .. ...... .
HIS,147 1890.. . . . ...... .
110,959 1891.. .... . . ... .
Gr. tot .. 116,083,341 18,:!09,042 17,406,65A 16,819,076 12,461,604 10,621,65t l 8,151,9811
-Ye ar ending ·1
June 30,
ing price of cotton under large receipts, and profits were un
satisfactory. The course of business in print cloths at Fal
River may be taken to some extent as indicating results in
general, and the production there in the calendar year 1891
was 9,985,000 pieces, against 9,937,000 in 1890; sales, 8,888,000
pieces, against 8,884,000 in 1890 ; stock at the end of the year
90,000 pieces, against 588,000 in 1890. Prices were lower in 1891
than ever before, 64x64s touching 2¾ cents, and the year's
average being 2·95c., against 8·84c. in 1890. Thirty-three
manufactllring companies in Fall River, with capital of $18,
658,000, paid dividend~ averaging 4·81 per cent in 1891, against
7·62 per cent in 1890 and 9·97 per cent in 1889, which was
their maximum year.
The trade in wool and woolen goods was very fair, and
better upon the whole . than in the year or two preceding.
Among other things considered favorable for the trade was
the discontinuance of the heavy auction sales of flannels in
New York. The stock of wool, domestic and foreign, on the
Boston market was estimated at 82,942,600 lbs. at the close of
1891, against 27,798,500 lbs. the previous year.
Iron production in the first half of 1891 fell off to a degree
quite extraordinary, indicating very clearly the dulne~s in
new industrial enterprises. There was but small demand
from railroads or for structural purposes, and the output of
pig iron from January to July was only 8,772,280 tons, against
5,107,775 in the fitst half of 1890; but stocks in the meantime
were considerably depleted. In the last six months the trade
improved under the stimulus of the large crops and the better
financial outlook, and in the late months of the year the demand from car manufacturers was quite a feature. From
the furnaces reported in blast the estimated weekly output,
which ran down to 118,483 tons about April 1, had risen to
171,115 by July 1 and to 188,082 on December 81, against 167,599 at the end of 1890. The year's production is reported by
the American Iron & Steel Association at 9,278,455 net tons
against 10,307,028 tons in 1890.
4,295,414
4,ti41,564
5,178,122
5,14 6,972
4,589,613
4,529,869
6,365,328
7,187,206
7,268,507
8,516,079
10,307,028
9,273,455
I
1,203,173
1,539,157
1,696,450
1,654,627
1,540,595
1,701,762
2,541,493
3,288,357
2,812,500
3,281,820
4,131,535
(')
I
954,460
1,330,302
1,438,155
1,286,554
1,116,621
1,071,607
1,763,667
2,354,132
1,552,631
1,691,264
2,091,978
1,400,000
Anthracite coal production ran ahead -of any former year
and the total output sent to market was 40,448,886 tons,
against 85,855,174 in 1890 and 38,145,718 in the maximum
year 1888. Consumption was also heavy and there was no
great accumulation of stocks at tide-water, the total on
Dec, 81 being 754,482 tons, against 535,652 at the close of 1890.
.ANTHRACITE COAL SIIIP.MENTS TO MARKET,
Years.
('l'ons of 2,240 lbs.)
Wyoming. Schuylkill
Tons.
1879. . ... . .. .... ... .. .. . ..
1880. ..... .. .. . ... .. .. ...
1881..... ... . .. . . .. .. . ... .
1882.. .. .. .. .... .... .... ..
18e3............ . .... .. ..
1884.... ... .. ..... .... .. .
1885 ... ,..... . . . • . . . . . . • . .
1886. . .. .... .. . . . .. . . . . . . .
1887.. .. . ... . .. . .. .. . . . . . .
1888........ . .. .. . . . . . .• .
1889.. ..... . .... .. .. . .. .. .
1890. .... .. .. . .. .. . . . .. .. .
1s111. ...... ... .. ..........
12,586,298
11,419,279
13,951,383
13,971 ,871
15,604,492
15,716,45!
16,286,470
17,031,826
19,fl84,929
21,852,866
18,647,92
18,657,fl94
21 ,325,240
Tons.
8,960,629
7,554,742
9,253,958
9,459,288
10,074,726
9,478,314
9,4~,426
9,381,407
10,609,028
10,654,116
10,474,864
10,867,822
12,741,258
Lehigh.
Tons.
4,15!!5,567
4,463,221
5,2Sl4,676
5,689,487
6,118,SOll
5,562,226
5,898,688
5,723,129
4,8i7,060
6,689,286
6,285,421
6,329,658
6,a81.~
'l'otal.
Tons.
26,142,689
23,487,212
28,5C0,017
211,120,096
31,798,027
S0,75d,995
81,628,521J
32,136,362
S4,fl41,017
88,145,718
85,407,710
85,855,174
40.448.S8fl
Stocks ~
Tidewater
points end
of Year,
Tons........ .
...... .
.. . .... .
062,116
748,830
874,681
754,5415
3i2,2~
13(\!'77
652,156
1,026,107
535,65~
754,482
There are no official statistics of the annual production of
bituminous coal in the United States, and only in the decen•
nial census periods can we obtain data that are presumably
correct. The returns for the U. S. Census of 1890 are for the
year 1889, and were published recently in a Census Bulletin
containing the report of Mr. John H. Jones, special agent
in charge of this department. It shows that the coal
product of the United States, both anthracite and
bituminous, reached a total of 141,229,518 net tons in
the year mentioned, and was valued at the mines before
any expenses were incurred for shipment at $160,226,323.
The to1al product included 45,600,487 net tons of Pennsylvania and other anthracite, worth 65,879,514, and 95,_629,026
RETROSPECT.
net tons of bituminous and lignite, valued at $94,346,809. The
average value for all salable grades of anthracite was $1 58
per ton at the mines, and the average value of bituminous
coal was ~9 cents per ton at the mines. In the previoui5
Cens~s year, 1889, the total product included 28,649,812 net tons
of anthracite and 42,831,758 net tons of bituminous coal.
The value o( the entire product was $95,640,396. The coal
product increased 97·57 per cent during the decade, and the
total value increased 67·53 per cent. The total number of
persons engaged in the co:11 industry in 1889 was 299,559, who
received in the aggregate $109, 130,928 as wages.
The following table shows the production of bituminous coal
by States and Territorties in 1889.
PRODUCT OF BITUMINOUS COAL IN
States and
Terrilm•ies.
.A.11.
Total p1·od- p1:ice at
uct.
mines.
Net tons. pe1·ton.
1889 .
At.1,
States and
Territot'ies.
Total prod- prir,e at
iwt.
mines
Net tons. pe,• ton
.A.lab am a......... 3,572,983 $1 11 Montana........
363,301
2 42
Arkansas. . . .. .. •
279,584 1 42 New Me:idco.. ...
486,463
1 79
Cal. and Oregon.
184,179 2 36 North Dakota...
28,907 143
Colorado........ 2,544,144 1 51 Ohio ............. 9,976,787 0 94
(~a & N. Carolina 226, 156
l 50 Pennsylvania ... 36, t 74,089
0 77
Illinois .......... J 2,104,272
0 97 Tennessee....... 1,925,689
1 21
Indiana.......... 2,845,057 1 02 Texas . . . . . . . . . ..
I 28,.l16
2 66
Indiau Ty.......
752,832 1 76 Utall....... ... .. .
236,651
1 59
Iowa ..... . ....... 4,095,358
1 33 Vir~inia .........
865,786
O 93
Kansas & Neb ... 2,222,443
149 Washington..... 1,030,578
2 32
Kentucky....... 2,399,755
0 99 West Virginia... 6,23 1,880 0 82
Maryland ........ 2,939,715 0 86 Wyoming ........ 1,388,947 1 26
Michigan........
67,431
1 7l
Missomi......... 2,557,823
1 36
Total. ....... 95,629,026 $0 99
5
had in 1891. The outward movement of gold from January
to July inciusive, amounting to $72,787,000 net, overshadowed all other events and had a depressing effect not only at
the Stock Exchange but also on mercantile business. During
this period the imports of merchandise slightly exceeded exports, such excess for the first six months amounting to $13
261,000.
There were some special causes for the large imports, es-pecially in the case of tin plates, as the new tariff of 2 2-10
cents per lb. under the McKinley law went into
effect on July 1 ; and the total imports of tin plates,
&c., in the first six months of the year were valued
at $22,668,170, against $10,591,938 in thfl same time of 1890. In
the last half of the year all was changed. The great exports
of wheat began in July, gold exports ceased in that month,
and the return movement of foreign gold commenced with
the first arrival in New York on Sept.12 and kept up throughout the year, the approximate net imports of the four months
September-December being $37,500,000.
The exports of
domestic products far exceeded any previous period, the
maximum of any one month being reached in December,
when the total value of merchandise exports reached $119
932,532. F0r the four months Sept. 1 to Dec. 31 the total
value of merchandise exports exceeded imports by 153.096,000,
against an excess of $80,951,000 in the same time in 1890.
FOREIGN TRADE llIOVEMENT OF THE UNITED STATES-(OOOs omitted. )
The petroleum product was heavy. The runs of Buckeye oil
in 1891 were 14,515,767 bbls.; deliveries, 13,174,460 bbls.; stocks
MERCHANDISE,
GOLD.
SILVER.
Jan. 1, 1891, 20,971,395 bbls. and Dec. 31, 22,103,704 bbls.
El;en
Excess IEx- Excess Ea>Im- Exctsa
os. Exports. lmpO'rtl.
of
m- .,---+,.
of
of Ex.
The old Pipe Line runs and deliveries in each:calendar year
Exports ports. ".,., •
lmports. ports. pOTts. ports.
since 1880 and stocks at the close of the year and the exports - - - -------1S91.
t
f
$
t
I
$
t
$
I
for the fiscal years ending June 30 have been as follows :
--- ----
I
PETROLEITTI RUNS, DELIVERIES, STOCKS AND EXPORTS SINCE
Calendar year ended December 31.
I
Runs.
Barrels.
Deliveries.
Barrels.
I
Stocks.
Barrels.
1880.
Fiso'I year end-
ed .June 30.
U.S. E xports.*
Gallons.
1881 .... . 29,674,462
20,24.0,121
394,412,402
------··
1882 .... . 31,789,195
22,094,300
34,335,147
556,239,228
21,!)07,636
1883 ... . . 24,385,968
35,715,565
499,786,266
1884 .... . 23,704,510
24,053,902
36,872,892
508,362,968
1885 ... .. 21,225,203
24,086,104
33,539,038
568,106,520
18 6 .... . 26,043,645
26,396,483
33,367,89
574,555,480
1887 .... . 21,819,027
27,347,998
28,357,112
589,554,441
26,470,654
18 8 .... . 16,259,977
18,595,474
576,982,396
1889 .... . 21,519,636
29,472,864
10,904,783
614,511,805
1890 .... . 29,130,751
30,62 ,738
9,295,513
661,845,698
34
486,923
28
761
073
15
354
233
708
206 529
1891 ·····
re:fdi;;;gi~;iEi:.1:ineral oils, ~oth crude and refined, but not including
I
RAILROAD CONSTRUCTION AND EARNINGS.
The increase in railroad mileage in 1891 was ,ery moderate.
There was little demand for new railroad bonds and even the
old and well established companies had difficulty in floating
their loans. Nor did this situation greatly improve even after
the advance of August and September had taken place in
Stock Exchange securities, as new bonds were still hard to
negotiate. Most of the building was done in the construction
of branch roads or in completing lines already undertaken,
and few new roads were projected. The aggressive action of
legislatures and railroad commissioners in some States in
reducing freight rates beyond a reasonable point had the effect
of checking railroad building. In Iowa only 28 miles were
built and in the great State of Texas only 142 miles. The total
for the whole country was estimated about 4,168 miles, against
5,738 mlles in 1890, nearly the same in 1889, about 7,000 miles
in 1888 and 13,000 miles in 1887.
Railroad gross earnings were well maintained in the first
half of 1891, notwithstanding the small tonnage from the
cereal crops of 1890, the decline in iron product, &c. The
natural expansion of general business and increase in merchandise tonnage, together with the extraordinary cotton
freights from the crop of 1890, helped to keep up gross earnings
in the first half of the year, although the grain-carrying roads
generally had small prnfits. In the la~t half of the year the
situation changed entirely, and under the large grain freights
the wheat-carrving roads were the most prosperous in tbe
country, and showed in their monthly reports a heavy increase over the preceding year. T wo hundred and one railroads (including 53 roads which had reported comparative
figures only up to the end of November) for 18!H had gross
earnings of $940,456,097, against $896 1603,011 in the corresponding period of 1890.
•
FOREIGN COMMERCE.
It is seldom that the movements of spede and merchandise
between the United States and foreign countries have so
direct an influence on current business transactions as they
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Jan....
Feb...
82,630
'74,876
March '7:i,3H
April.. 10,007
May.. :i8,062
June.. li'7,595
July..
62.669
Aug... '72,686
Sept... 82,854
Oct .... 102,877
Nov •.. 111O,104
Dec ... 119,932
62,301
6:;,979
1'7,fl35
81,275
,.1.994
73,462
61,042
6:i,953
61 ,505
66,836
6-l,!l85
69,:lJ.5
---
20,329 1 ,398
729
660
8,897
565 4.010 t3,445
*~,321
614 :;,156 t4,5!2
*10,368
233 14,163 +13,030
*13,932
213 30,5811·30,368
*.lii,867
283 l!'i,822 H.l,539
*4,373 1,029 6,662 +:i,633
6,733 1,395
172
.1.223
21 ,349 7,451
345
7,106
36,04.1 lti,898
810 16,088
4~.219 S,872
382
S,490
i>O,487 6,019
266
:;,763
1,618
1,623
2,071
2,093
718
1,550
1,661
3,14.9
2,;,34
3,231
4-.610
2,339
1,319
977
1,049
831
1,141
l,C26
1,905
l ,661
1.581
2,423
2,199
2,081
200
646
l,C2~
1,262
*4i 8
524'
*24.
1,488
9E8
808
2,411
258
Totn.1 197O,506 82~,312 142194 44,970 79,088 +34,118 'l7,197 1 ~.193
lSfiO. 8.l7,503 823,398 34,105 'lO,280 24,063 +3.833 ·,W,540 ~2,426
9,oc,
4,11'
1
1SS9. '82?,106 '770,522 :i6,584 12,005 :iO,9341·38,929 tO,694 19,219 121.~75
1
188S. 1 i$91,76172:;,411 *33,650 10,96134,6.26 +23.565 l9,880 1~.908 1a,072
lSS1'. '71:i,3017OS.Bl& 6,483 -tli,889 9.144 3.l,746 ·l7,6!5 16.773 1 41,872
1s~6. 71:l,401 frn3,429 49.975 41.309 41.283
2e !7.05611,223 9,838
* Excess of imports.
t Excess of exports.
CITY BANK .MOVEMENTS.
The condition of our city banks was in strong contrast to
that of 1890, when the banks were in distress for money, often
below their legal reserve limit, and obliged to issue Clearing
House certificates to meet the demands upon tbem in the
autumn crisis. In 1891 the bank reserves were never below
the legal requirement, the lowest point reached being on the
3d of October, when the surplus reserve was $3, 102,7.30; it was
also pulled down sharply to $6,935,150 on Nov. 7, owing to
the drain occasioned by the f.1ilure of the M1Verick Nc1.tional
Bank in Boston. Late in the year money was unusually
abundant; the surplus reserve on Dae. 26 was $19,480,025,
the total deposits then ($155,306,3'.>0) being in exce3s of any
former period, the hi2;hest point reached in previous years
having been $4:!5,797,500 on July 6, ~889. The Clearing House
certificates issued by the New York City banks in the crisis of
1890 reached a maximum outstanding at one time of $15,205,
000 on Dec. 12, and all had been retired by January 30, 1891
except $40,000 to the failed North River Bank, which were
canceled Feb. 7. In Boston the maximum out at one time
was $5,065,000 (Dec. 6), and all were retired by January 6.
From the Philadelphia Clearing House no direct information
bas been obtainable, but the Comptroller of the Currency in
his report to Congress Dec. 7 said the issue of loan certificates
"was commenced on Nov. 19, 189[), and ceased on M:1y 23,
1891, the total issue being 9,655,000. The maximum issue
($8,870,000) was reached on J anuary 9. The certificates have
all been retired excepting $170,000 issued to the Keystone and
Spring Garden national banks."
MAXIMUM AND l\UNIMUM DEPOSITS OF NEW YORK CITY BANKS,
Mi_a_zi_·m_u_m_._ _ [
__________ ___
1
MininiU1n.
1880... .................... [$307,796,700 Nov. 6 1 $242,087,100 .Jan. 3
1881.. ........... ..... . . ... 352,658,800 .July 23 271,668,800 Mar. 12
1882. ............ .. . . . . . . . . 322,863,200 .July 29 277,930,000 Nov. 25
1883.. .. . . . . . . .. ... . . . . . . . . 327,326,700 .July 14 1 279,944,200 Mar. 31
1884...... .... . .... . ....... 363,544,400 Feb. 1G 280,698,100 .June 21
1885.... .... .... • .. . . . . .. . . 391,804,900 Aug. 22 340,816,300 .Jan. 3
1886.. . ....... ... . .. . . . .. .. 396.080,800 Feb. 13 345,708,500 Sept. 11
1887... ... . . .. . .. ... • .. .. . • 392,771,200 Feb. 12 341,935,900 Sept. 24.
1888.... ............... .... 421,884,300 Oct. 20 371,305,900 .Jan. 7
1889. . ....... . ..... . . . . . .. . 445,797,500 .July 6 395,600,600 Dec. 14
1890. . . ... .. . .... .. . . ...... 431,599,600 Feb. 8 376,746,500 Dec. 13
1891....................... 455,306,300 Dec. 26 383,491,500 .June 13
RETROSPECT.
6
RANGE OF LEADING STOCKS IN 1891.
M.AXIMUi'II AND l\U.NIMUM SURPLUS RESERVE FOR TWELVE YEARS.
_ _ _ _ _ _ _ _ __ ,___Mi_a_x_i_m_u_m_._ _
1880.... . . ..... .... . .. . . ...
1 8 81. . ... ... ... . . . .. __ ... . .
1882.. . . . . .. ... ... .. . . .. .. .
1 883. ... . .. . ..... . ....... . .
1 S84. .... ... .... ... .... . ...
1885. .. .. .. .. .. . . .. . . ... ...
1 886. _. .. .. .. .. .. ... . ... . . .
1 887 . . . ... . . . __ _. .. .. . . ....
1888 . .. __ . _____ ..... -.· -- ·. .
1 889 ..... . . . .. . .. . . . _......
1890. _........ .. ... __. __...
1 8 91.. ... .. . ____ ... .. ____ __
[
Open-
M i ni m um.
$18,471,275 July 17 df. $2,461,875 Dec,
16,728, 575 May 20 def. 3,333,275 Oct.
10,8 95 ,600 April 29 11d ef. 3,024,9 50 Nov.
10,007,575 Jan. 27 def. 6,770,875 Mar.
42,297,4 50 D ec. 4 def. 6,607,125 May
64 ,724,100 July 30
24,712 ,650 Dec.
36,156,425 Jan. 30
4,008,200 Dec.
22,298,450 J a n. 29
3,34 5,900 June
28,4 63,700 June 16
6,28 1,350 Dec.
20,014 ,800 J a n. 26 d ef. 1,668 ,050 Oct.
15,031,650 Jan. 25 d ef. 3,306,925 Sept.
24 ,089,775 J a n . 24
3,102,750 Oct.
4
7
11
17
22
24
18
25
29
5
13
3
THE MONEY MARKET,
The money market in 1891 was never subject to any severe
strain, although there were a few periods of t emporary stringency in call loans. The market for time money was sensitive
in the )ate spring and summer while gold exports were so
large, although the bank surplus was good and call money
easy, but banker s . relaxed in their views about time loans by
August, when th e excellen t crop situation began to improve
the tone in financial circles. The ease of money in the late
months of the year. wl:wn stringency usualJy prevails, wa s
quite notable, and in December call loans generally ranged at
2ca 4 per cent and prime commercial paper was quoted at
4¾ @5½,
FOREIGN EXCHANGE.
The course of foreign E>xchange was closely identified with
that of the trade and gold movement commented upon above.
Opening low in January, prices quickly advanced, and for the
first eight months of the year high rates prevailed most of the
time for sterling biils, as the foreign demand for our securiti~s
was lacking and gold exports were large. Rates relaxed m
July and August, gradually declined, and ruled low in the later
months, and from Sept. 12 the gold _imports were continuous
during the rest of the year.
RAILROAD AND MISCELLANEOUS SECURITIES,
The year was one of most interesting characteristics in
Stock Exchange dealings. After opening with some animation, following up the recovery from the Baring crisis, which
had made good progress late in December, 1890, the activity
in securities soon declined, and in the absence of foreign buying our markets became dull. Depression followed, as the
exports of gold continued on a large scale, and the railroads
w ere many of them feeling the Joss of business arising from
the partial failure of grain crops in 1890, and in the early part
of March prices generally reached very low figures. The
course of affairs in April was influenced by the excellent
wheat prospects and the bad condition of crops in France and
Russia, and there was a temporary buoyancy in securities
with quite an active movement at the Stock E xchange in the
latter part of the month.
The buoyancy was shortIived, however, and soon gave way under the effect of the
large gold exports, until the market drifted into g1·eat depression that culminated in the lowest prices in the la~t few
days of July. There were also active bear attacks on
Burlington & Quincy, Rock Island. St. Paul, &c., and on tbe
31st Bmlington & Quincy sold at 79¼.. Atchison at 30¾ , St.
Paul at 61 ¼ , Rock Island at 69, LouisvHle & Nashville at 67½ ,
New Y ork Central & Hudson at 98½, Erie at 17½, New York
& New England at 31, Northern Pacific preferred at 58½,
Richmond Terminal at 11¾, North American at 11½ ,
Chicago Gas at 43¾, Union Pacific at :39½. With the
first of August the market sharply turned, and stimulated
by the cesrntion of gold exports, by the heavy outward movement of grain, and the very fine crop prospects, it then entered upon an extraordinary course of activity that lasted
with very little intermission for nearly two months and carried up prices of many active stocks and income bonds
10 to '20 per cen~. With October can1e a decided reaction,
owing partly to the passing of the Missouri Pacifi:: dividend,
the weakness in Richmonq Terminal and some other special
stocks, and during that month and November and until the
middle of December the market was lower, halting in tone
and without any general animation. Then the business in
bonds became a notable feature, and the year ended with
much activity and prices near the highest point.
The following table shows the volume of sales at the New
York Stock Exchange for a series of years.
SALES AT THE NEW YORK STOCK EXCHANGE.
~ Railroad
and
Miscf'l aneous
Stocks.
Railroad and
:Mis<'ellaneous
Bonds.
114,511.248
116,307,271
97,049,909
96,154,971
92,538,947
100,802,050
84,914,616
65 ,179,106
72,014,600
71 ,282,88 5
69,031,68 9
385,889,500
246,769,410
284,768,100
499,955,200
660,659,400
587,237,500
347,127,330
345,914,047
398,8 25,425
401,829,220
383,715,000
--- -- Shares.
1881. ••.•
1882 .••.•
1 883 .•..•
1 84 .••..
1885 ..•..
1886 .••..
1 887 •••.•
1 8 88 .....
1 889 .••..
1 890 .....
1 891. ••..
$
Government
Bonds,
S tate
Bonds.
·------- - -- $
35,395,850
18,555,850
17,046,150
14,905,150
15,261,200
12,7!:13,500
7,110,400
6,573 ,700
3,69 ,850
2,625,500
1,4 60,800
$
49,569,300
26,571,260
6,986,500
2,826,900
14,678,053
20,394,411
15,306,800
5,188,285
5,932,350
4,870,400
3,475,100
· * ThiR includes all stockR (except bank stocks) and also Trust certifi ottes, &c., sold in the •·unliste 1" department, e x cept petroleum certiti •
eates sold by barrels.
·
The following table shows the opening, highest, lowest and
closing prices of leading groups of stocks during the year 1891.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
---------Trunk Lines-
ing.
Lowest.
Highest.
Olosi'g.
--- · - - - - -
Baltimore & Ohio .... 9319
85
84 7s Dec. 31 104 Oet.
9
6138
Canada Southern .•• . 48l\i
4738July 30
64½ Dec. 10
3-!12Dec,, 28
Erie .•.•••.••.......• . HPs
17¼ July 31
341s
Lake Shore . ....•.... . 10614 :x:10.512 June 30 127 Dec. 28 x:123 14
8712 July 3U 109 7 s D ec. 9 1 " 9¼
Michigan Central. .•. 9212
9 ~¼ July 2 8 119¾Dec. 24 xllb38
N. Y. Cent. & Hudson 10114
22
15¼Mch. l)
26¼ Se pt. 18
Ohio & Mississippi. .. 18
Penns) 1vania .•••..•. 501s
495ff May 19
57¼ Dec. 28
571s
Coal Road"Del. L a ck. & Western 131½ 13038 July 27 1455s Sept. 21 139
Delaware & Hudson. 1305g 11814 Nov. 16 141 ¼ Sept. b 123
5114 Sept. 22
Lehigh Va1ley . .•.. . . . 49 1 s
45 7s June 4
5038
New J ersey Central.. 106½ 10514 June 29 122¾ April 2tj 112
65g July 30
11¾ Sept. 3u
1019
N. Y. Sue.q. & We8 L'n.
8¼
40
43 ~ Sept. 21
Pbila. & R eading . .•. 321s
2.'.> 7s .A.ug. 4
Wr st'n & so ·w. R oads45
4 7¼ Sept. 21
Atch. Top. & San Fe. 2 1< ¾
2458 Mch. 10
7534 Mch, 7 110 Dec. 28 10938
Uhic. Burl. & Qulncy. 89 34
i-~lg
8 ! 38 Dec. 31
Chic. Mil. & St. P a ul . 51
50¾ Jan.
2
Cnic. & Nor thwes t 'n . 1045s 1021s Mch. 9 118¾ D.- c. 4 116¼
89
6338 Mch. 6
Chic. R. I. & Pacific .. 7038
90~ D ec. 21
72 Jan.
Great N1 rthern, pref. 72
2 12419 Dec. 17 123
Illi nois Central. ..... 9819
90 Mch. 9 109¾ Dec. 2 $ 109
771s Sept. 21
6J14
5 4. 14 Oct.
Missorui P a crfic .•...• 6014
2
Pacitic Rnacls91¼
9l¼Dec. 3 1
Canadian Pacific .... 7314
72 14Jan.
6
34,
3:'i Dec. 24
Central Pacific •..•.• 30
29 Feb. 24
30 7s ~ept. 2.1
25 7 s
North ern P a cific ...•. 21¼
2018 July 30
7 8 38 Sept 21
Prefe rr.. d .• •....•.. 64
5819 July 31
7158
1
52¼ April 28
4.7 7 8
32 4 Aug. 11
Union Paciflc .•••..•. 4.2½
Southern Roads28 Sept. 25
265s
Ch,.. s a.pellke & Ohio •• 17
1414 July 30
6018
60 7s Sept. 21
lat 11referred ..•.... 44,
42 July 2!-J
714
East Tenn. Va. & Ga.
814 Jan. 14
5 July ::io
7
42
6 6 J an . 14
1st pr... f crrert . . . . .
40 Deo.
9
6014
83~
Louisv ille & Nashv.
83 7 s Dec. 31
65 7 s Aug. 14
72¼
5414
57¼Jan. 14
Nol'follr&West.. pref. 53¼
46¼ Aug. 6
14¾
Rich. & W. Pt. Term. 1558
19¼ Feb. 7
2
838 I>ec.
13¾
Te:x:::ts & Pacitlc ....•. 14
165s
Sept.
21
10¾ Deo. 2
Miscellaneou
2812 April 23 t .•••••
Am. Cot . Oil Tr.,tr.rc. 1638
1534 Jan.
2
34.¾
Stock, common . .•. 15 7s
351s Dec. 31
lf> 7 s Jan. 2
65
Stock, pref..-rred _.. 33-½!
65 Deo. 31
33½ Jan. 2
8 l ¼I
Am.Sug.Ref.Co.,com. 65
9358 Sept. 21
57¼ Jan. 17
93
J>referred ......... 92
98 Sept. 21
85 F8b. 27
9419 April 6 § .• • •••
Sugar Tr. (tr. rec.)
2
56 7 s Jan.
57 14
71¼
Chicago Gas Co . ... . _ 34
71¾ Dec. 31
3-1 Jan. 2
94¼
N ationalCordage,com *73¾
7334 Mell. 11 ]04 May ~7
P1e rerred ..•...... t102 14
97 Nov. 9 ll0¼May 7 1ou35
18¾
2118Jan. 17
.NatioLal Lead Trust. 1714
!434Jnly 28
59¼
81 Feb. 10
Pipe Line Certitlca tes 71
511il Aug. 7
9:'\
Silver Bullton certit's 104.5g
9414 Nov. f> 107l\i Jan. 14
83¾
85¼ Se pt. l l:J
Western Union Tel.. 7614
76 Jan. 2
• March 11 first sale.
t Januarv 29 fl.r::1t sale.
t Last sale in May.
§ L GLst sale in April.
Q-
Review of the Year by Months.
J ANUARY.- The month of January opened with a continuation of that better feeling which had already been developing
for some time as a reaction from the Baring crisis of November. The first of the month came on Thursday and the first
bank statement was made on Saturday the 3d, showing a
surplus reserve above the legal requirement of $8,576,875.
Rates for money on call ranged as hig h as 9 per cent in the
first two days, but afterward relaxed and ruled comparatively
easy during the balance of the month within extreme limits
of 1½ to 6 per cent, with 3 per cent as an average
rate in the latter part. Prime commercial paper was
quoted at 6@7 per cent at first and later at 5½ <L 6½ per cent.
The citv banks' surplus reserve stood at $8,576.875 on January
$3 13,384,250 on the 10th, $19,183,825 on the 17th, $24.0~9,775
on the 24th and $23,943,125 on the 31st. The certificates
issued to banks by the New York Clearing House, which had
reached the maximum of $15,20:'i,000 outstanding on December 12, were all retired by the 30th of January except $40,000
to the suspended North River Bank, which were taken in
soon afterward. The certificates issued by the Boston Clearing House reached a maximum of $5.065,000 on December 6,
1890, and were all retired by January 6; those issued by the
Philadelphia Clearing House reached a maximum of $8,870,000 on Jan. 9, but some were still issued as late as M::i.y ·22,
1891, and all had been retired before December, except $170,000 to the Keystone and Spring Garden banks, which failed.
Foreign exchange was quite easy at first, and bankers' asking
rates were as low as 4 80½ for demand and 4 84½ for sixty
days sterling. But with the sales of stocks on foreign account, the demarid for remittances, and a moderate supply of commercial bills, rates quickly advanced till the
middle of the month, when some drawers asked as
high as 4. 86½ and 4 89. though at the same ~ime actual
business was done at 4 85¼ and 4 87¼, and did not vary
much from these prices during the balance of the month.
The Bank of England discount rate was 5 p er cent at the
beginning of the year, to which figure it had ~€:an red~ced on
December 3 from 6 per cent, the rate preva1hng durmg the
Baring panic; on January 8 the rate was reduced to 4, on the
22d to 3½ and on the 29th to 3 per cent. The excess of U. S.
exports of merchandise over imports for the month was $20,329 ,328. Gold imports into the United States in January exceeded exports by $669,6i2; the net export of silver was $·399,811; and silver certificates in New York ranged at 104% at
the opening, 107¾ highest, 101 ½ lowest and 1021/s at the close._
Government se~rities were dttll, and under the Treasury
circq_lar of October 9, 1890, offering to purchase 4½ per cents
at n:::.t, with interest to maturity (September 1, 1891), about 1½
millions were taken in. Railroad bonds were active and
strong, with a pretty general advance. The stock market was
quite active and buoyant early in the month and many stocks
RETROSPECT.
•advanced more or less, making substantial recoveries from
the depressed prices of December. Later in the month there
was more irregularity, and, with lees business, prices varied
according to the merits of particular stocks, some declining
while others advanced. The grangers were weak towards the
close, and Lake Shore and Nickel-Plate were strong in consequence of the declaration of a first dividend of 3½ per cent on
the first preferred stock of the latter. Sugar Trust advanced
from 58½ to 85¼ as the extreme points of the month, on the
discharge of the receivers and the reorganization of the Trust
as a corporation. The Rock Island and St. Paul roads were in
controversy with Union Pacific over the Omaha Bridge contraet, but this did not prove a serious dntwback. The highest
prices of the month were generally reached from the 12th ,,
the 14th. In the latter part of the month business was lf.:'flS
active and the market irregular in its movements; the silver
discussions in Congress were prejudicial, and the passage of a
free-coinage bill in the Senate on the 15th caused some appre
hension.
Among the events of the month were the failure of A. E.
Bateman & Co., stockbrokers, and the appointment of a receiver for the Atlantic & Danville Railroad ; the incorporation
of the Mohawk & St. Lawrence Railroad, under New York
Central auspices, to build from Utica to the St. Lawrence River
to parallel the R. W. &O.; the defaulton the January coupons
of the Pennsylvania Poughkeepsie & Boston Railroad ; the
lease of the Rutland road again to the Central Vermont for 999
vears; the postponing of the payment of the principal of the
Cairo & Fulton (St. Louis & Iron Mountain) bonds falling due
Jan. 1, and the notice of payment on July 1 as permitted by
the mortgage; the dispute between Union Pacific on one side
and the St. Paul and Rock Ishnd companies on the other
over the contract for u se of the Omaha Brid ge; the St. Louis
Alton & Terre Haute proposal to issue 4 per cent bonds guaranteed by "Big Four" to its preferred stockholders in the proportion of $150 in bonds for each $100 of stock; the passing of
the dividend on Philadelphia & Readi ng preferred income
bonds; the resumption of Decker, Howell & Co. on January 6
and settlement of their liabilities of about $12,000,000 in
full after less than 60 days suspension from Nov. 11, 1890.
The Beech Creek Railroad was t aken by New York Cent ral;
a decree of sale was made for the Decatur Ches. & N. 0. RR.;
•• The Western Traffic Association" was the name taken by
the officers of the Western railroads at their meeting in New
York on January 8; the East Tenn. Va. & Ga. executed a new
general mortgage for $15,000,000; a silver bill for free coinage
passed the U. S. Senate in the week ending January 16; the
Sugar Trust was incorporated in New Jersey as the" American Sugar Refining Co." with $50,000,000 stock (half of it preferred) and 10,000,000 debenture bonds; the Chicago Gas
dividend was passed ; a new management went into the
Oregon Improvement Company; the Poughkeepsie Bridge
hondholders were asked to fund coupons; the Thurber-Whyland Company was incorporated with $1,500,000 pref. stock
and $1,500,00ll common; the New York Belting & Packing
Company, Limited, was incorporated with $·~,066,100 capital
and 1,091,250 mortgage debentures: the Dayton Ft. Wayne
& Chica!!O Railroad was purcba ed in the interest of the Cincinnati Hamilton & Dayton; the Marietta & North Georgia
Wf'nt into receiver's hands; the Tonawanda & Cuba Road was
sold on the 19th; the death of Mr. "\Vindomoccurred at a public dinnf'!' in New York on the 29th, just after an eloquent
speech against the free coinage of silver; a first dividend of
3½ per cent was declared on the first preferred stock of
the New York Chicago & St. Louis (Nickel-Plate) Railroad; the Baltimore .Belt Line Railroad bonds of $5,000,000
were offered for sale ; American Bell Telephone Company
increased its stock $2,500,000, to $15,000,000; the Mexican Central RR. offered to buy its prior lien bonds at 110, calling in on
April 1 all those remaining outstanding.
FEBRUARY.-In February began that outflo w of gold
which did not end until the latter part of July. The money
market was quite easy during F ebruary, and on call loans 4@
4½ per cent was the highest rate paid, while prime short-date
paper was quoted at 5@6 per cent. The city banks' surolus was
$20,242,675 on Februarv 7. $18,492,700 on the 14th, $15,373,025 1
on the 21st and $13,630,275 on the 28th. Foreign exchange
was not active in February, but owing to the moderate supply
of commercial bills and the absence of foreign purchasers of
our securities, actual rates advanced to 4 88¼ and 4 88¼ for
long and short sterling about the middle of the month. declining to 4 85¼ and 4 88 by the close. . The Bank of England rate
remained throughout at 3 per cent. The trade movements
were-Excess of merchandise exports over imports, $8,896,748 ; net export of gold, $3,444,842; net export of silver,
$648,070. Silver bullion certificates in New York-opening
102}4'. highest 102½, lowest 98½, closing 97,¾'.
At the Stock Ex:cha.nge business was dull. Government
securities presented no feature of interest and only small
amounts were purchased under the circular of October 9.
Railroad bonds, on a moderate business, were fairly held, but
showed no decided movement one way or the other The
low-priced mortgage bonds and incomes were the most
active. c Pittsburg & Western 4s were higher on the Balt. &
Ohio deal; Louis. New Albany & Chic. consols fluctuated on
rumors of a receivership ; St. Louis & Iron Mountain 5s were
stronger on the payment of the Cairo & Fulton 1st mortgage
bonds without waiting till July 1. The stock market presented little animation in February and the volume of dealings was relatively small. There was a halting tone and all
parties were waiting for the adjournment of Congress and the
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
termination of doubt as to silver or other financial legislation.
Moderate shipments of gold were made, and this, though not
of immediate importance to the money market, was rather
against stocks than in their favor ; the Chic. Burl. & Quincy
Railroad reduced its quarterly dividend to 1 per cent on ac•
count of the loss of earnings from the deficiency in the corn
crop of 1890, and Atchison declined under bearish attacks,
and also from the loss of earnings on small crops. London
was more or less unsettled by rumors of trouble with houses
engaged in the Argentine business, and was therefore rather a
seller than a buyer of our securities. Pacific Mail was strong
on the shipping subsidy bill in Congress, and declined on its
failure to pass. Susquehanna & Western stocks declined
when it was announced that· all negotiations for a sale of the
property were off.
Among the events of the month tbe fustdi vidend of½ of 1 per
cent was declared on Lead Trust shares; the Suburban Rapid
Transit lines were absorbed by the Manhattan Elevated; the
Oregon Improvement Company offered $4,000,000 of its consolidated 5s to stockholders at 70; a controlling interest in
Pittsburg & Western stock was acquired by the Baltimore &
Ohio in exchange for its own shares to be issued later; the
Poughkeepsie Bridge defaulted on the coupons due February
1, and bondholders were asked to fund coupons for two
years; the £3,000,000 borrowed by the Bank of England in
November was repaid to the Bank of France; the Kentucky
Union Railroad went to a receiver ; Gen. Sherman's funeral
took place on t'he 19th; the Covington & Macon Railroad was
leased to Richmond & Danville; the Ohio Valley was sold to
Mr. C. P. Huntington; the American Loan & Trust Company
failed; ex-Gov. Foster, of Ohio, was appointed Secretary of
the Treasury in place of Mr. Windom, deceased; the Cairo &
Fulton (Iron Mountain) 1st mortgage 7s were paid off Feb. 24,
instead of waiting till July 1 according to the previous notice.
MARCH.-Money was _in good supply this month, and on
call loans brokers usually paid from 2 to 4 per cent, the average rate being 3 per cent; prime commercial paper sold at 5
to 5½ per cent; the New York City banks' surplus was $10,880,975 on the 7th, $9,793,57~ on the 14th, $9,055,375 on the
21st and $8,442,050 on the 28th. Foreign exchange was without special animation, but bills were not in large supply and
rates were very firmly held about 4 86 for 60 days sterling
and 4 88½ for demand, while gold continued to go out in
moderate amounts. The Bank of England rate remained at 3
per cent. The imports of merchandise into thP. United States
were very large and exceeded exports by $2,320,510; the net
exports of gold were $4,541,566, of silver, $1,02l,572. Silver
bullion certificates ranged as follows: opening, 98; highest,
99%; lowest, 97.%; closing, 98¼ .
Government bonds were steady and small amounts of the
4½ per cents were purchased under the call of October 9.
Railroad bonds were generally weak and some touched the
]owest prices so far in the year; Atchison 4s in the second week
touched 75¾ and incomes 38%, Reading 1st pref. incomes
sold down to 47½; seconds to 32, thirds to 25¼ , and mortgage
4s to 77½; Louisville New Albany & Chicago consol. 6s declined to 84, and jumped back to 9!, when the reports of the
syndicate deal were confirmed. Bonds generally recovered
from their lowest prices, but the market was without animation. Stocks were generally depressed and fell off sharply,
notwithstanding the adjournment of Congress on the fourth
and the removal of apprehension as to further silver legislation. Burlington & Quincy touched 75¾ , Rock Island 63,% ,
Atchison 24%', Northwestern 102¼, St. Paul 51¼, Louisville
& Nashville 71%, N. Y. & N. Eng-Janel 32 and Reading 28%.
But these low prices were generally made in the first ten days
of the month and the tone afterwards improved. R ome &
Watertown advanced to 135 on the proposed lease to N. Y.
Central ; the coal stocks declined on the Coxe decision by the
Inter-State Railroad Commission against the Lehi~h Valley,
but quickly recovered; the granger stocks were affected by
the maximum-rate bill, which passed the Nebraska Legislature but was vetoed by Governor Boyd. The embarrassment
of the ." Societe des Depots de Comptes Courant" in Paris
early in the month and the unsettled feeling in the foreign
markets were predudicia1. In the unlisted department of the
Stock Exchange Comstock Tunnel was active, selling up to 40;
National Cordage stock advanced with large dealings, and
American Cotton Oil was active and higher.
Among the events of the month-Congress adjourned on
the 4th; the Mexican Central Railroad called in its. priority
bonds for payment; the Northern Pacific land decision wag
made awarding to this company about 500,000 acres of land
in litigation with the Manitoba Railroadi of which there i-emained 289,100 acres unsold and $1,095,000 cash as proceecl;i
of sales; the Phila. & Reading Terminal bonds of $8,500,000
were placed with bankers for sale when ne.eded; in Paris the
"Societe des Depots de Comptes Counot" became em barrassed, owing to Argentine liabilities, and the Rank of France
advanced to it 60,000,000 francs under a joint guarantee by
financial houses; the Comstock Tunnel Co. paid two back
coupons of 1890 and afterward api:.lied $89,544 to the purchase
of its bonds; the Pacific Mail SS. comp?nsation under the new
postal law was estimated to be w9rth 8500,000 per annum; a
Stock Exchange seat sold for $l6,000; the Kentucky Union
RR. went into receiver's bands, also the Ga. Southern & Fla.
RR. (Macon Construction Co.) ; the Cent. RR. of Ga. was
leased to the Ga. Pacific RR. of the Richmond Terminal system; the Coxe Bros.' complaint against the Lehigh Valley
RR. was sustained by the Inter-State Railroad Commission;
the Keystone Bank in Philadelphia suspended; a syndicate
8
R.ETROSPEOT.
was formed to take $2,800,000 genl. mortg. gold fi\"es, with
$1.400,000 stock, of tlle Louis. N. Albany & Chic. Railroad for
$1,960,000 cash; the R. W. & O. Road leas _ to N. Y. C. & H .
with guaranteed dividends of 5 per cent on the stock, the:,
stock being increased 20 per cent ; the San Antonio & Aransas
Pass reorganization plan wag i:isued ; Pittsburg & West.
created a 2d mortg. for $3,500,000 at 5 per cent, to provide for
improvements. &c.; Rio Grande Western offered $1,250,000
of pref. stock to its stockholders at 65.
APRIL.-The money market was fairly easv in April, and
stock borrowers were generally supplied at 3½ per cent on
call, while prime paper was quoted at 5'Ql6 per cent. The
highest rate on call money was 6 per cent till just near the
end of the month, when some borrowers paid as high as 9 per
cent. The surplus reserves of the city banks were $6,389,975
on the 4th, $5,612,950 on the 11th, $4,319,850 on the
18th and $6,975,125 on the 25th. Foreign exchange was very
firm, opening at 4 86¾' and 4 88½ on actual dealings in long
and short bankers' sterlin~ respectively, and closing with a
wider difference between long and short bills,about 4 ~5½ and
4 89. The Bank of England rate was 3 per cent till the 16th.
when it was advanced to 3½ and so remained. Our merchandise imports exceeded exports by $10,368,130; gold expor!s were $13,929,798 net; silver exports, $1,261,665 net. The
range of silver bullion certificates was: opening, 98,%; highest,
99; lowest, 96¼; closing. 98!4',
The purchases of 4½ per cent bonds under the Treasury
circular of Oct. 0 terminated the 25th of April, when the
amount taken was about $15,000,000. At the Stock Exchango
railroad bonds were generally strong and tolerably active,
with the Atchisons and other income bonds and low-priced
mortgage bonds chiefly in favor. The stock market in April
showed great strength and activity, and prices in the last half
were decidedly buoyant. There was a little check at first
owing to the Italian sensation caused by the withdrawal of the
Minister from Washington late in March in consequence of
the New Orleans massacre. On the ~d Gov. Boyd of Nebraska vetoed the maximum-rate bill in that State,' and this
was regarded as rather a turning point in legislation against
Western railroads, and it gave an impetus to stocks. The
Northern Pacifies were quite weak in the face of a strong
market, in consequence of free selling for German account. St.
Paul was prominent for its London support; Chicago Gas was
active on the proposal to relinquish its organization, Sugar on
the Spreckles tall{ and Cotton Oil on the better condition of its
finances. The crop prospects began to affect the market very
favorably, and the tone in the latter part of the month was
buoyant in spite of th e gold export.
Among the principal events of the month was the export of
gold; Go,ernor Boyd vetoed the maximum-rate bill in Nebraska; the offer early in April of $4,000.000 De·n ver City
Water Works bonds; 70,000 shares ($25 each) of Blackwell's
Durham Tobacco Company, of which the whole stock was
$4,000,000; $350,000 pref. and $100,000 common stock of the
Conn. Breweri<>s Co., total stock, $700,000; $300,000 stock of
the North Carolina Steel & Iron Company, total stock,
$t,OOO,OOO. The Louisville N. Alb. & Chic. syndicate took
$2,800,000 general mortgage 5 per cent bonds and $1,400,000
stock; Atchiso:1 offered 4 per cent bonds to St. Louis & San
Francisco first preferred stockholders at par; the ChicaJ:?:o Gas
Company decided to surrenderits charter; the Western Traffic
Associa,tion failed to get a quorum at Uhicago; the Pitts. Cin.
Chic. & St. Louis decl ared a first dividend of 1 per cent on its
preferred stock; the Third Avenue Horse Railroad voted to
issue $4,000,000 second mortgage bonds to change the road to
a cable system; the Hill defalcation was discovered in the
Ninth National Bank; Lehigh Valley Railroad bonds for
$4,000,000 on the Buff :110 extension were offered; the Alabama
Midland interest was not paid; the Chicag;o Kansas & Nebraska (Rock Island's western lines), Norfolk Southern Road
and Texas Central were all sold in foreclosure.
MAY.-The money market was a trifle firmer in May and
the average rate paid by borrowers on call was 4 to 4½ per
cent while the extreme range was from 3 to 7 per cent; prime
paper sold at 5@6 per cent. The city banks' surplus on tbe 2d
was $7,443,300, on the 9th $1,763,950, on the 16th $4,912,850,
on the 23d $5,Z17,65Q and on the 3)th $7,529,175. Foreign
exchange rate:. were generally easier than would have been
indicated by the large gold exports and on actual transactions
were 4 84 for bankers' 60-day sterlin!2,' and 4 87½ for demand,
about the 20th, rising to 4 85 and 4 88½ at the close. The
Bank of England rate was 3½ per cent at the beginning of
the month and was advanced to 4 on the 7th and to 5 on the
14th, at which it remained. The excess of merchandise imports over exports in May was $13,931.516; net exports of
gold, $30,368.1~2; net ~mports of silver, $423,594. The price
of silver bullion cerL1ficates ranged as follows: opening,
98½; highest, 100; lowest, 96_¾'; closing, 96,Ys.
Iu the Stock Exchange markets there was no feature in
Government bonds. Railroad bonds were much less active
with prices generaJly lower on the incomes and the cheaper
classes of mortgage bonds, and the tendency was all in buyers'
!av?r, Richmond Terminal fi:7es were ~mong the weak spec1::1,lties. Stocks showed a decided reaction from the animation ~ of April, and under the depressing influence
of the large gold
exports and lack of foreign
buying the market became dull. The new stocks of
the Cotton Oil Company (reorganized) came on the Stock Exchange list, selling at 24 for common and 47 for preferred.
Nashville & Chattanooga sold up to 110 near the close, on the
l'eports of new stock to be issued to old stockholders at 50.
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Federal Reserve Bank of St. Louis
Among the leading events of the month were the large ex-ports of gold ; the Bank of England advance to 6 per cent;
our very strong crop situation ; the unsettled affairs abroad,
including the remains of Argentine embarrassments, and an
unsettled feeling in Paris and small crisfa in Lisbon. The
Western Traffic Association held its adjourned meeting in
New York May 6, with harmony, and a Missouri Pacific agent
was discharged for rate-cutting;Norfolk & Western offered to
its stockholders 21 new shares of pref. stock at 52½ for each
100 owned ; the Penn. Railroad dividend was 3 per cent, payable in cash or scrip ; the Chattanooga Rome & Columbus road
was bought in the Central Ga. interest; Chicago &Northwest.
authorized $10,000,000 5 per cent debentures ; the Westinghouse Electric Mfg. Co. embarrassed, proposed a plan of
reorganizatfon; the Readi.ng Railroad contracted with Coxe
Brothers for 30 years to build a short connection and carry
their coal ; the Covington & Macon Road was sold in foreclosure and reorganized as Covington & Northern; the St.
Louis Southwestern RR. (formerly the St. Louis Arkansas
& Texas) took possession of its property.
JUNE-The month of June was exceedingly dull in financial
circles, notwithstanding the easy money market and the excellent crop prospects. The continued export of gold was the
chief depressing influence, although money was easy in London and the Bank of England rate was twice reduced-from
5 to 4 on June 4; and again to 3 rer cent on the 18th. Money
on call was in full supply here within a range of 1@5
per cent and with 2½@3 per cent as the averagerate to stock
borrowers in the latter part of the month, time loans being
much higher and prime paper quoted at 5½ to 6 per cent.
The city banks' surplus steadily increased in spite of the gold
exports, through large receipts of money from the West, and
during the four weeks the surplus reserve ran as follows : On
the 6th $6,687,600, on the 13th $10,484,825, on the 20th $16,172,225 and on the 27th $18,411.620. Foreign exchange was
easier in tone early in the month as money in London became
easier, but in the latter part sterling bills were stronger, as
commercial bills were in small supply and there was no buying of securities for foreign account. At the opening actual
business was done ·as low as 4 85@)4 88¼ and near the close
at 4 86½ and 4 89 for long and short sterling respectively.
The Bank of England rate was reduced· to 4 on the 4th and to
3 on the 18th. The imports of merchandise into the United
States exceeded exports by $15,867 ,4.91 ; the net export of gold
was $15,539,494 and net export of silver $523,847. Silver bullion certificates opened at 97¾'; highest, 103; lowest, 97¼:
closing, 102.
Stock Exchange securities were devoid of animation and often
much depressed. Secretary Foster on the 2d issued his first
cirt;ular, stating that the 4½ per cent bonds would be paid off
at maturity on Sept. 2, and suggesting to holders their continuance at 1@1½ per cent. Railroad bonds were very dull
and prices of many bonds lower. The market was devoid of
animation or interesting features. Stocks opened dull until
Rock Island broke about 6½ points, to 70}(, on large selling
orders reported to come from inside parties who first knew of
the reduction of the August dividend to ½ of 1 per cent.
Tbis depressed other stocks, and the large exports of gold and
sensitive feeling abroad and absence of foreign buying in our
market kept everything down throughout the month. Chicago Gas was quite active between 48 and 55¾ on a settlement with the city, and late in the month North American
broke to 11½ and Richmond Terminal to 12½, these not being
railroad companies and more easily assailed by bear rumors
as to the value of their assets. Dividends were declared on
Sugar stocks-4 on common and 3½ on the preferred.
Among leading events of the month not already mentioned
were the excellent Government crop report on the 10th; the
lease of the Central Railroad of Georgia to the Georgia Pacific
of the Richmond Terminal system; the offering to Central of
N. J. stockholders of record on June 8 the right to take at par
20 per cent of their boldmgs in new stock; the decision by
Louisville & Nash ville to purchase the Kentucky Central
Railroad stock; the completion of tbe connection between
Norfolk&Western and Louisville & Nashville at Morton, Va.;
the notice of issue by Nashville Chattanooga & St. Louis Railroad of 50 per cent new stock at 50 to stockholders of record
on July 15; the decree of sde in foreclosure made against the
Kansas City Wyandotte & N. W. Railroad; the assistance
again rendered to the Muriettas in London.
JULY.-July was a month of easy money, large bank reserves, weak exchange and declining gold exports, excellent
crop prospects, but dulness and depression notable at the Stock
Exchange. The exports of gold finally came to an end on
July 25, and after that no more was sent out. Money on call
ranged between 1 and 4 per cent, with 1½@3 as the average
rate paid by borrowers, time loans being less easily obtained
and lenders very cautious, while prime paper was selling at
5½@ 6 per cent. The banks' surplus on the 3d was $15,465,075,
on the 11th $14,542,025, on the 18th $18,489,675, and on the 25th
$19,710,325. Foreign exchange was easier and commercial
bills in better supply. On actual business bankers' sterling
bills sold at 4 8~¼cai4 87 in the first part, and at 4 84½Cg4 86½
near the close. The Bank of England rate of discount was
reduced from 3 to 2½ per cent on the 2d, and remained at that
figure. Imports of merchandise exceeded exports by $4,373,142; the net export of gold was $5,633,526 and net imoort of
silver $244,408; silver bullion certificates ranged at - 1021/s
opening, 102.% highest, OU lowest, 100,311 closing.
There was no special interest in Government bonde. Secre•
RE'l'ROSPEO'l'.
tary Foster issued on the 2d his circular offering to extend
the 4½ per cents due Sept. 1 at 2 per cent interest. Railroad
bonds were very dull throughout the month with prices not
improved in general and in some cases actually lower, the
cheap mortgage bonds and incomes being chiefly dealt in.
Stocks gained nothing from the fine crop outlook and decreasing gold exports, and after a very dull month and low
prices the depression.culminated in a bear assault on Burlington & Quincy and the other grangers, and on the last rlay of
July Burlington & Q11incy sold at 79¼ , Atchison at 30¼, S t.
Paul at 61¼, Rock Island at 69, Louisville & Nashville at67½,
N. Y. Cent. & Hudson at 98½, Erie at 17½ , N. Y. & New
England at 31, Nor. Pac. pref. at 58½, Richmond Terminal at
11¾, North American at 11½, Chicago Gas at 43¾, Union
Pacific at 39½ . Many stocks touched their lowest prices of
the year in the last week of July.
Among the events of the month were the discharge of the
M. K. & T. receiver and the taking possession of the property by
the company ; the fine crop outlook h ere and bad reports from
France and Russia ; the increase in stock of the American
Tobacco Company of $6,000,000 common, to $21,000,000, and
$2,000,000 p1·ef., to $14,000,000 ; the ratification by Louisville
& .~ashville stockhol?ers of the increase of $7,000,000 stock,
raunng the share capital to $55 1 000,000, and the offering of
$4,800,000 of t he new issue to stockholders at 70; the Richmond & Danville recorded a $2,000,000 equipment mortgage ;
the Jersey Central quarterly dividend was raised to 1,¾' per
ce~t,. Long Island q~arterly dividend to 1¼ ; while the
lllmois Central semi-annual was reduced from 3 in
March to 2 for September -md the Denver & Rio Grande
August dividend was passed; Judge W allace rendered
a decision in favor of the Edison patent on incandescent
electric lights ; the English Bank of the River Plate in London
suspended ; the Rock Island_ and St. Paul suits against the
Umon Pacific as to OmahaBridge were decidedinfavor of the
former; the National Lead Trust proposed to reorganize with
capital reduced to $30,000,000, of which $15,000,000 to be 7 per
cent preferred cumulative and $lo,OOO,OOO common, with
$3,00(),000 debenture bonds.
AuousT.-This was a month of sharp and wonderful recov~ry at the Stock Exchange. _The_ forces that led up to this
improvement had been culmmatmg for some time; the crop
abundance here and scarcity abroad had become the talk of
the w orld; o~r large exports of gold, which held everything in
check for a time, had finally ceased on July 25; the prices of
stocks and bonds instead of improving had reached their extreme depressioµ in the last week of July. The facts had finally become too strong to be longer resisted; the market turned,
and then commenced that long upward movement in securities
from which there was no really serious reaction during the
balance of the year. Money was quite easy on call at 1½@ 5
per cen t , with an average rate of :Udl2½, and on time loans
the lenrl ers were more liberal and less ti mid about collateral;
commercial paper was quoted at 5½ g,6½ per cent. The surplus reserve of our city banks was $19,481,350 on the 1st,
$18,420,850 on the 8th, $17,617,225 on the 15th, $14,109,800 on
th_e 22d ~nd $12,767,825 on the 29th._ F<?reign exchange declined with the better supply of gram bills and in the last
part of the month on some buying of our securities for foreirn
account-rates on actual business were 4 84½ @4 86½ for
bankers' sterling at first and 4 83¾ ~ 4 85 towards the close.
The Bank of England rate remained throughout a t 2½ per
cent. For the :first time since February the exports of merchandise exceeded imports, the excess being $6,733,030; n et
imports of gold were $1,222,587; net exports of silver, $1,488,715. Silver bullion certificates ranged- 100½ opening, 101
highe t. 98 lowest, 98 closing.
Stock Exchange securities showed improvement from the
start. The Richmond Terminal bonds, whic h had been very
weak, recovered sharply to 58, thoug h af terward declining,
and other low-priced bonds began to show signs of animation,
in sympathy with stocks. The market broadened as the
month advanced, and income bonds met with a large business
on speculative acccount, whilo the mortgage bonds showed
much less advance in prices. As a type of the mo5t active
t•onds Atchison incomes opened at 48.% and closed at 61 ½:and
Reading first preferred incomes opeued at 49½ a nd closed at
60,%. The tone of the stock market began to improve on the
first day of August, and there was never afterward any
material set-back to the advance -in prices. Burlington &
Quincy had been ham mered b.v the bea rs late in Jul y, and on
the 31st sold at 79¼ , w ith St. Paul at 61 ½ , Rock Island at 69
and Atchison at 30% . These prices made a good starting
point for these four stock:3, which were then t he leaders of the
market, and the bulls made the moi: ! t of it. With more or
less animation throughout and with buoyancy increasing as
the month advanced, there was a general upward m ovement
all along the line, and on the 31st of A ut! ust Burlington sold
at 96,%, St. Paul at 71 ¼, Rock Isiand a t 84½ and Atchison at
41¼. Other stocks kept pace with t his advance more or less
closely, and many of the low-priced specialties came into
favor and shared in the improvement. The strength was also
sustained in spite of serious breaks in such important stocks
as Union Pacific and Richmond Terminal. The Union Pacific
was greatly embarrassed by its floating debt, and a receiver
~as imminent before the relief syndicate was formed. the
stock declining on the 11th to 32~4, and Richmond Terminal,
owing to the large debts of its operated companies, declined
on the same day to 10¼.
e Among the leading events of the month were the excellent
Qrop reports; the formation of the Drexel-Morgan syndicate
~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
0
·to help Union Pacific fl.oat about $20,000,000 of 8-yea.r 6 per
cent notes to take up its floating debt ; the Russian ukase
against the export of rye, issued about the 10th; the sale of
one Stock Exchange seat early in the month at $16,500; the
declaration of 2 per cent for the :fiscal year on Atchison incom es : very large exports of wheat ; the plan to fund five
coupons of the Kansas City Memphis & Birmingham Railroad;
the plan to reorganize the Lead Trust with $30,000,000 capital
($15,000,000 of it pref.) and $3,000,000 debenture bonds.
SEPTEMBER.-In this month the U. S. 4½ per cents wQre
paid off or extended at 2 per cent. The return movement of
gold from Europe to this country began in considerable
amounts, the first receipts at this port arriving on the 12th.
Very large exports of grain were kept up, but cotton exports
were slow. There was continued animation at the Stock Exehange, but quite a reaction in prices late in the month.
Money on call was generally easy at 2½ @J 5 per cent though
exceptional rates were made as high as 7 per cent about the
10th and up to 25 per cent on the 22d, though the bulk of
business was at 5(ro 6 per cent in the latter part with a turn
upward to 12 per cent near the close. Commercial paper was
quoted at 5½@ 6½ per cent. The banks' surplus reserves ran as
follows: on the 5th $9,156,400, on the 12th $8,722,775, on the
19th $7,756,750, on tile 26th $4,008,125. ]:i'o rejgn exchange
tended downward as commercial bills increased in supply and
as London pm·chased our stocks and gold began to come in
freely ; rates on actual bt1siness wne 4 82¼ and 4 85¼ for
sterling at first and 4 80¼ and 4 83½ towards the close. The
Bank of England rate was advanced from 2½ to 3 per cent
on the 24th. Exports of merchandise exoeeded imports by
$21,348,551; net imports of gold into the country were $7,106,138 and net exports of silver $953,168.
There was an active movement in Stock Exchange ecurities. The United States Treasury continued to extend the 4½
per cents at 2 per cent until September 30, paying off those
holders not desiring to extend. There were outstanding on
July 2, when the circular was issued offering to extend the
bonds on presentation, $50,869,200, and up to September 30
there had been extended at 2 per cent $25,364,200, and paid off
$18,009,600, leaving ove1· $7,000,000 to be redeemed. Railroad bonds were very strong and active for the incomes, in
sympathy with the stock market, but without special improvement in the mortgage bonds. Stocks showed a very
large business, with excited dealings and great buoyancy during the first three weeks of the month and no serious drawback. On September·21 Burlington reached 99½, St. Paul 76,
Atchison 47½, Rock Island 87 .% ; the Vanderbilt stocks of a,11
classes were strong and higher; Erie touched 31¾ on the 16th.
The fine crop outlook on everything except cotton, and the
warm weather for maturing corn, together with the continued
heavy exports of grain and the imports of gold at New York,
were the chief influences that fostered the buoyancy in stocks.
In the week ending September 26 there was a decided change
in the tone and a considerable reaction in prices. · Business
was very active and large; sales of stocks and bonds to realize
profits already accrued were easily absorbed by new buyers
without breaking prices. But on Thursday the 24th it was
announced that the consideration of the Missouri Pacific quar·
terly dividend bad been postponed till the next week and that
it would probably be passed. This broke the stock from 73 to
65 and affected all the list as it was accompanied bv reports
that the Gould party was decidedly against the advance in
stocks. A hitch was also rumored in the Union P acific syndicate plan, and that stock declined, touching 38% F r iday morning and bounding to 43½ when the success of the plan was
announced. During the balance of the month the market
drifted .>n with prices barely steady, waiting for the final
Missouri Pacific action to be taken on the 30th.
Among the chief events of the month w ere the extension
or paym ent of the U. S. 4½ per cents, as stated above; the inflow of gold towards tbi:'l country; the excellent Government
crop report on cereals issued en thf' 10th, though a less favorable showing for cotton; the Allegheny Valley Railroad foreclosure decision; the failure of S. V. White & Co. on the 22d
on their effort to corner September corn in Chicago; a plan
for loam; to Richmond Terminal companies which was under
consideration: the execution of the Union Pacific syndicate
agreement and offering of $5,500,000 of the 6 per cent collateral trust notes to the public at 92½, which were oversubscribed on the 28th ; the passing of the Missouri Pacific
quarterly dividend, which was finally acted on at the directors' meeting held Sept. 30.
OCTOBER.-The month of October was one of easy money,
but halting and depressed markets at the Stock Exchange.
There was an unsettled condition of affairs abroad ; the receipts of gold from Europe continued on a liberal scale;
wheat and cotton were marketed very freely and prices kept
low in consPquence, though exports of wheat were very
heav y ; railroad earnings were large, particularly on the
grain-carrying roads. Money on call was easy after the :first
few days and loans were made during the balance of the
month at 3@6 per cent, with 3½ to 4½ as the fair average.
Prime paper sold first at 6@6½ and afterward at 5~ 6 per
cent. The New York City banks reported surplus reserves of
$3,102,750 on the 3d (the minimwn amount of the year),
$6,639,475 on the 10th, $9,029,700 on the 17th, $12,391,150 on
the 24th and $ t2,338,525 on the 31st. Foreign exchange was
without animation at moderate prices, and commercial bills
were in full supply from grain exports, though cotton exports
were less than in October, 1890. Actual rates for bankers' 60day sterling bills ranged from 4 79¾ to 4 81¼ and for demand
10
RE'l'ROSPE011.
bills 4 88 to 4 84¼. The Bank of England rate remained at 3
per cent till the 29th, when it was advanced to 4 per cent.
The excess of merchandise exports over imports was $36,188,057; thP net import of gold, $16,088,352; the net export of
silver, $801,471. The range of silver certificates was: opening,
97¾; highest, 97%; lowest, 95¼; closing,96.
)ii the Stock Exchange markets there was little animation,
and the general tone was one of waiting, after the large advance which had taken place in August and September. Government bonds were dull; State bonds very little dealt in;
railroad bonds presented no salient features, the active issues
being dull and depressed in sympathy with stocks, t he principal transactions running as usual on the leading income
bonds such as the Atchisons, Readings, Texas Pacific, &c.
The low-priced mortgage bonds improved somewhat towards
the close. Stocks were very weak at the opening in consequence of the passing of the Mo. Pacific dividend on Sept. 30,
when Mr. Gould was also seizt,d with an attack of hysterics at
the directors' meeting; Missouri Pacific declined on Oct. 2 to
54¾, The settlement of Union Pacific floating debt by the
Drexel-Morgan syndicate had been successfully completed on
Sept. 29, and this was quite favorable, but the market simply
.1emained steady in the face of <lulness and bearish influences
with weakness here and there in spots. The Vanderbilt
stocks became very strong late in the month, owing to their
prospect of larger dividends, and among the Western stocks
the heavy earnings of Atchison, Burlington, St. P aul, and
some other roads, served to give tone to the list.
Among the events of the month the Atchison circular was
issued offering to extend the $7,000,000 of 6 p er cent guarantee
trust notes for two years, paying holders a bonus of 1 per cent.
The Rock Island issue of $10,000,000 debentures was announced and $2,000,000 were sold and listed in November; the
Louisville Evansville & St. Louis a cquired control of the
Kentucky & Indiana Bridge; the Allegheny Valley plan of
reorganization was issued; the Cincinnati Jackson & Mackinaw Road was sold and the Middle Division purchased by
parties outside the reorganization committee; the issue was
proposed of $2,500,000 preferred stock by the Columbus Hocking Valley & Toledo Railroad, offered afterwards to stockholders at 50; the issue some time previously of $1,500,000
second mortgage bonds by Lake Erie & Western was announced; the Ohio & Mississippi meeting w as held on the 15th
to elect three directors and act on the proposed transfer of
control to Baltimore & Ohio, against which there was opposition; Pullman stock was increased by $5 ,000,000, offered to
stockholders at par; a land decision was made by the United
States Circuit Court in North Dakota favorable in its general
result for Norbhern Pacific; the California & Oregon 6 per
cent mortgage bonds were extended by Central Pacific to Jan.
1,1918, at 5 per cent; the Lehigh Valley Terminal Railway was
formed and $10,000,000 bonds authorized; the Missouri Kansas
& Texas lines in Texas were incorporated with $8,000,000 capital stock; the P. Lorillard Tobacco Company was organized
with $2,000,000 preferred and $3,000,000 common stock; the
Pacific Short Line Railroad was foreclosed and reorganized as
the Nebraska O'Neill & Western.
NoVEMBER.-In November the financial markets were disturbed by the failure of the Maverick National Bank in Boston
on the 2d, and by the unsettled condition of affairs abroad,
especially in the Continental cities. On the 27th th~ suspension of Field, Lindley, Wiechers & Co. was announced, and as
they had re-hypothecated a large amount of securities pledged
with them for loans, the failure had an unsettling influence.
The ipfl.ow of gold from Europe continued on a moderate scale
during the month. In the loan market, the Maverick Bank failure led to a large temporary demand for money from Boston,
and this advanced rntes on call here to 15 per cent on the 4th,
from which they quickly fell off and soon ruled at 3@6 per
cent, being quite easy in the latter half of the month at 3½~ti1 4
per cent, prime paper being quoted at 5 ~5¾ , Our city banks
had surplus reserves of $6,985,150 on the 7th, $9,452,150 on the
14th, $13,322,750 on the 21st and $14,882,350 on the 28th . F oreign exchange was very steady, the actual rates for bankers'
60-days sterling bills ruling between 4 80¼ and 4 81 , and demand bills at 4 83½@4 84. The Bank of England rate remained at 4 per cent, but the bullion in bank increased considerably, and a reduction in the discount rate was expected.
Merchandise exports from the United States exceeded imports
by $45,511,601 ; the net import of gold was $8,489,768 ; the
net export of silver was $2,411,194. The opening, highest,
lowest and closing prices of silver certificates were 95¾ , 95½,
94¾, 9i¾,
At the Stock Exchange there was no particular activity and
a dul1 business with weakness in special stocks was the rule.
The Maverick Bank failure, the general elections on the 3d,
the failures of bankers in Berlin, the unsatisfactory condition
of affairs in Paris, where bankers were carrying a large part
of the new Russian loan, and the revolution in Brazil, all contributed to check the activity of our market on home or
foreign buying. On the other hand receipts of wheat and
cotton at the Western and Southern markets wer e large
beyond precedent, exports were very heavy, and railroad earnings showed a handsome increase over 1890. The Burlington
quarterly dividend was increased to 1¼ pet" cent; Erie declared 8 per cent on its preferred stock and Baltimore & Ohio
20 per cent in stock to represent earnings spent for betterments in past years. The leading Western stocks were held
more steadily than others; the Vanderbilts were generally
strong on the prospect of earning higher dividends ; the coal
stocks were '10Jd down, but recovered towards the end ; Amer-
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ican Cotton Oil was strong 011 its excellent financial exhibit ;
Chicago Gas was active and variable on the changing rumors
concerning the opposition company ; Richmond Terminal
broke on the prospect of a reorganization.
Among the principal occurrences were the failure of the
Maverick National Bank on the 2d; the general elections on
the 3d, which were generally construed as indicating opposition to free silver coinage; the good exhibit of the American
Cotton Oil Company; the loan of $3,500,000 for one year to the
Cent ral Railroad of Georgia by the Speyer syndicate on the
pledge of $7,000,000 5 per cent consol bonds; reorganization
plan of the U. S. Rolling Stock Company; the Berlin failures
of several banking houses; Louisville New Albany & Chicago
increase of $5,600,000 in stock, of which $3,200,000 was afterward offerPd at 25 to stockholders of record Dec. 15: increase
in Baltimore & Ohio stock to $25,000,000, of which ·$2,161,800
was for the purchase of Pittsburg & Western stock, about
$2,958 ,500 for the 20 per cent B. & 0. st0ck dividend, and over
$5,000,000 left for improvements; the appointment of a receiver for the Macon & Atlantic Railroad; the passing of its
dividend by the U. S. Exp:ress Company; the Atlantic &
Pacific second mortgage guaranteed bonds were retired, but
the mortgage held alive by the guarantors; the Cleveland & •
Pittsburg Railroad made $10,000,000 blanket mortgage and
$3,000,000 of the bonds at 4½ per cent guaranteed by Pennsylvania Railroad were sold; the Russian ukase forbidding the
export of wheat was issued on the 21st, taking effect on the
.23d; the Virginia debt compromise offered a basis of $19,000,000 of new 100-year bonds for $28,000,000 of old debt, the new
bonds to carry 2 per cent for 10 years and 3 per cent for 90
years; the Pacific Mail obtained Government postal contracts
on certain routes; Field, Lindley, Wiechers & Co. failed on
the 27th.
DECEMBER.-December was chiefly remarkable for its easy
money market, large surplus of the banks, continued heavy
exports of produce, and moderate imports of golrl, and;finally;
for the great buoyancy and activity at,..the Stock Exchange
and depression at the Produce and Cotton Exchanges in the
last part of the month.
Rates for money on call were quite easy, not exceeding 6
per cent in the early part and afterward ruling at 2;g)5 per
cent, with prime paper at 4¾ to 5½ per cent. The surpluo;
reserve of the city banks was $13,863,625 on th e 5th, $15,3l19,500 on the 12th, $19,161,500 on the 19th and $ 19,480,025 on the
26th. Foreign exchange opened at easy rates about 4 81½
for long sterling and 4 84½ for demand, but afterward became
firm on a good inquiry for remittanceH, relaxing subsequently
as this fell off and closing about 4 81¾ and 4 84½ on actual
business. The Bank of England discount rate was r educed
on the 10th from 4 to 3½ per cent and so remained. Silver
bullion certificates opened at 94½: highest, 96¼; lowest, 94½;
closing 95.
The stock and bond markets showed but little animation in
the first two weeks of the month. 'l'here was strength here
and there in Rpots and some demand for bonds at better prices.
Richmond Terminal broke to 8% on the 2d, owing to differences in the management and doubt as to the outcome of its
affairs. Burlington & Quincy was very strong on its earnmgs;
Missouri Pacific and Northern Pacific preferred w i>re w ~ak
and sold down. SilvP.r certificates had a brief liveliness ou
Mr. Goschen's proposed plan in England. But after the middle of the month the tone rapidly improved; dealin gs at the
Board became active and buoyant in both stocks and bonds,
and the movement thus begun was kept up with growing impetus · throughout the rest of the m onth. The Rock I sland
dividend was raised to 1 per cent; Richmond Terminal securities took on new life and advanced sharply after the appointment of the Olcott Committee; the gra ngers, Atchison and
Union Pacific advanced on large net earnings ; the Vanderbilt
roads made an excellent showing though their dividends declared were less than some had expected. The low-priced
stocks and bonds advanced materially on speculative purchases, as well as Cotton Oil, National Lead, Chicago Gas and
some of the industrials, '· so called;" also the better class
of bonds on a good investment demand, so that the year
closed with buoyant markets in each department of the
Exchange.
Among the events of December a receiver was appointed
for the Richmond Nicholasville Irvine & Beattyyille Railroad
in K entucky ; the Poughkeepsie Bridge was rumored t o be
going under the control of some of the strong railroads ; the
Chicago & Northern Pacific n egotiated $5,000,000 bond s w ith
a syndicate headed by Speyer & Co. ; the Lehigh Valley Terminal $10,000,000 bonds were listed and part of them sold
privately by Messrs. Drexel, Morgan & Co; the National LMd
Companv was formed with capital of $15,000,000 pref. and
$15,000,000 common; the Wagner Palace Car Company increased its capital stock $7,000,000, to $20,000,000, and $6,000,000 was sold to stockholders at 30 ; the Allegheny Valley
Railroad was sold Dec. 15 and purchased by the reorganization committee; the Atchison ·rerminal property in Chicago
was reported as sold for $7,500,000 to the Chicago Elevated
Terminal Company; the Milwaukee Lake Shore & Western
Road was absorbed by the Chicago & Northwestern by an exchange of stocks-9 shares of M. L. S. & W. pref. for 4 C. &
N. W. common and 5 of M. L. & W. common for 4 C. & N.
W. common; the Richmond Terminal directors differed in
views and the Olcott Committee was appointed ; the National
Cordage Co. obtained an option on the Good Cordage &
Machine Works, giving it about 80 per cent of the cordage
works of the country.
OLEARINGS .AND SPECULATION.
CLEARINGS .AND SPECULATION.
In interpreting the annual statistics of bank clearings, it should be remembered that two main circumstances always control the results, namely the condition of the country's trade and industrief. and the relative volume of dealings on our Stock Exchange.
Neither circ"ll.mstance in the late year operated to
swell the bank transactions as compared with the year
preceding, but operated in the opposite direction-taking
the country and year as a whole-and hence the aggregate of the clearing~ is found to be below that for 1890.
We need not rehearse here the facts as to the depression and quietude of trade, which w·ere the ruling
features during 1891. Suffice it to say that some of
the adverse influences c-ontinucd in operation to the
very end of the year, though our enormous crops and
the freedom with which they were being marketed
began to exert a telling effect before the year's close in
the sections nearest to the agricultural districts. .As
for the dealings on our Stock Exchange, which have to
be settled through the banks, the Exchange having no
independent method of clearing its transactions, the
aggregate for 1891 does not appear quite to have approached that for 1890, though there were during the
twelve months one or two marked spurts of activity.
On the Produce Exchange the year was one of very
heavy business, but the effect in that case on clearings
iB comparatively unimportant, since the Produce Exchange clears its own transactions.
In brief the clearings for 1891 foot up 56,636 million
dollars, as against 60,829 millions for 1890. The falling" off is 4,193 millions, or 6·9 per cent. For a year
such as 1891 that is certainly not an unencouraging exhibit. It is well to recall that the loss follows a gain
of 8·3 per cent in 1890 and of as much as 13·4 per cent
in 1889, so that the falling off has been from large
totals. In other words, from 49,541 millions in 1888
the clearings rose to 56,175 millions in 1889, and then
to 60,829 millions in 1890, falling from this to 56,636
millions in 1891. · If we extend the record further back
we discover that, barring 1882 and 1881, when the stock
dealings here on the New York Stock Exchange .were
phenomenal, there is no other year when the total was
as large as for 1891-that is to say, notwithst~nding
that the late year was a period of business depression
and not especially distinguished for a large stock speculation, the clearings were the heaviest ever recorded excepting only the year preceding and 1881 and 1882. If
from the totals w·e eliminate the clearings arising from
stock sales by allowing an average of 2½ checks to each
transaction, the result is still more favorable, as wil
appear from the following table, giving the clearings
for the whole country and for New York separately,
both with and without the stock sales, and also the
clearings outside of New York, in every year back to
1878.
11
CLE.A.RINGS IN THE WHOLE COUNTRY.
Year.
·=
1891 ...
1800... .•••.
1889.. ....•
1888. .. .....
1887....... .
lSStS........
1885....... .
1884...... . .
1883.... ....
J.S82. .•...••
1881.... ••
1880••••••• ,
1879........
1878........
Total Clear- Per C t . 1 - - - - - - , - - - - - - - c - - - - - - ings Outside Inc. or Less2¾Tlmes Per Ct.
Per Ct
New York.
Dec.
New York Inc. or
Including
Inc. or
Stock Sales.
Dec.
Stock Sales.
Dec.
$22,887,514,025
2s,s10,4S2.s0s
20,2S0.22s,002
16,441,607,346
17,672,972,82fl
15,616,s 01,606
1s,s21,ss0,708
13,214,113,618
14,297,171,924
13,062,286,579
14,094,506,861
ll,87~.400,000
9,290,800,000
7,955,100,000
-2·1 $47,106,217,690 -7·4 ~.tlM,836,287
+1s·2 50.884,929,620 +10·6 60,829,090,oos
+ 10·0 46.021,248,1!65 +1s·1 56,175,827,997
+4·S 40,6\12,837,010 +2·0 49,5-H,6M,867
+1s·2 39,875,581,147 +1s·s 51,147,529,094,
+11·2 34,579.665,718 +24·is ,0,20s,7'21,218
+o·8 27,774,891,444 -5·4 41,474,041,044
- 7·6 29,351,234,788 -18·6 44,199,984,788
+2·4 36,079,447,894 -18·4 51,781,472,796
-0·9 41,655,018,020 -S·l 60,878,241,610
+2S·9 42,{177,623,237 +so·5 63,471,889,244
+22·4 82,942,138,088 +16·\l 49,989,848,223
+16·8 28,184.889,904 +25·8 88,526,473,829
-1J•2 22,495,597.355 -4•1 27,818,771,307
1
-6·9
+a·s
+1s·,
-S·l
+s·s
+18·9
-e·1
-14·8
-15·0
-4·0
+,n·o
+29·7
+ss·5
-6·6
The above is in our usual form, and in no other way
could the record of clearings be so plainly and so strikingly brought out. It will be observed that by deducting from the aggregate clearings the stock clearings in
the manner mentioned, the amount for 1891 is the
largest ever at tained, with the single exception of that
for the year preceding, which had been in excegs of
each and every previous total. Such a comparison
gives a better idea of the growth and development
which has been in progress. It is noteworthy that the
N ew York clearings if treated in the same way-that is,
diminished by an allowance for the Stock Exchange
business-do not appear to the same advantage. In
that case the 1891 total is found to have been many
times exceeded-in both 1889 and 1890 as well as in
1881 and 1882. The 1891 result is 24,218 millions,
whereas for 1890 the clearings were 27,514 millions, for
1889 25,747 millions, for 1882 27,693 millions and for
1881 28,883 millions. But New York is not only the
country's :financial centre, but the centre of very extensive trade and manufacturing interests, and might be
expected to feel business depression in those ~~partments more than the thriTing Western commumties . .
Further interestmg deductions appear from a study
of the clearings outside of New York. Here the falling off from the u!iprecedented :figures of 1890 is ~omparatively small-only 483 million dollars-or but little
over 2 per cent. It is to be noted, too, thti.t these outside cities in their aggregates are steadily gaining on
New York. In 1881 when the New York clearings
(stock sales included) were 49,376 millions, ~h~ outside
cities had an aggregate of only 14,094 m1lhons, the
difference in favor of this point thus being 35,282
millions. In 1891, with New York down to 33,749
millions and the outside places up to 22,887 millions,
the difference is only 10,862 millions. In 1881 the
New York total was 3½ times that of the rest of the
country; in 1891 it was not quite 50 per cent larger.
This, as said, is on the basis of New York's total clearings-stock sales and _ all. With the stock sales d~ducted this city's preponderance is reduced to small
proportions_:_in fact, al~ost disappears.. In 1881 the
comparison of the clearmgs of the outside cities with
those at New York, ex the stock transactions, was
NEW YORK CLEARINGS
14,094 millions against 28,883 millions; in 1891 it w~s
Clearings Per Ct. 22 887 millions against 24,218 millions.
Per Ct.
Per Ct.
Year.
Of course rn
2.J.e Times
Total
Inc.or Less 2¼ Times Inc. or
Inc. or
Clearings.
so:ne degree the growth at the outside cities follows
Dec.
Stock Sales.
Dec.
Dec. Stock Sales.
-------189] ........ '38.;40,s22,212 -9·9 $9,530,618,547 -4·2 $24,218,703,665 -12·0 from the fact that there are now more places having
+6·9
27,lH4,447,127
-2·0
9,944,160,482
1890.... . ••. 87,458,007,609 +4·4
clearing houses than there were a de_cade a?o, but in
1889 .. ••.•.• 3l5 ,895,104,905 +15·4 10,U.8,079,727 +14·7 25,747,025,178 +15·7
:J-888 •••••••• :u,100,027,i21 -7·1 8,848,797,857 -21•5 22,251,229,664 +o·2 the main the growth is due to actual mdustr1al expan1887•. . .•••• 38,474,5:56,268 -0·6 11,271,9¼7,247 -23·4 22,202,609,021 +11·1
1886, ....... SS,676,829,612 +19·6 14,7a,155,500 +7"4 18,962,674,112 +s1·2 sion and development.
i885 ....... 28,152,201,836 -9·1 13,099,649,600 -7·7 14,452,~l.736 -10·4
We have said.that the falling off from last year in the
1884. ...... 80,985,871, 170 ~17·~ u.~.1so.ooo -5·1 16,137,121,170 -25·9
1888.. , ..... 37,484,800,872 -20·2 15,652,024,902 -18·6 21,'f82,275,970 -21·s clearings of the outside cities was small, being only 483
-4·2
46,916,9.fiMSl -o·o 19,223,683,~90 -6·2 ~7.698,821,441
1882.,.,.,
:Even this
188l,. ,. ... {9,lJ7~.882.~ +2'7'9 ~.493,766,007 +20·2 28,883. 116,876 +s4:4 million dollars, or about two per cen~.
21,566,738,086
+
14·1
l 88()• •• • • • , . 88,614,448,008 +a2·1 17,047.715,180 ~·9
small
loss
however,
would
not
exist
e~cept
for
Pi heavy
181'0,. ,, ••,. w.~.073,829 -H'i'2 t0,a41,~,9~ +9'·6 18,89¼.089,904 + 29·9
l'-540,497,SM
-a·~
-6·'7
-~·2
l,~8,178,~
(l,ec;e~se ~t a few rominent t'oint~ ~u ~lgse _{H'Q imitf tq
JtJ1'8., 11" .. 19.~,671,SO'f
I;
..
-
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Federal Reserve Bank of St. Louis
-A
·'
I
1 1. ....
OLE.ARJNGS ANJJ
12
SPEOUL.ATION.
New York ; the points which we have more particularly ands of dollars for the various grou ps for each quarter
in mind are Boston and Philadelphia, the clearings for of the last seven years.
the one being only 4,754 millions against 5,131 millClearings Reported.
First
Second
Third
Fourth I Total
(OOOs omitted.)
Quarter. Quarter. Quarter. Quarter.
ions, and for the other 3,296 millions against 3, 7] 0
Yea~
-------(II
$
$
millions. There are other points that record a decrease,
*
I
'
';',707,648 8,318,129 8,204,184 9,489,416 83,749,822
but with simply these two excluded there would be in1890. 8,918,802 9,870,836 8,885,188 11,783,782187,45~,608
1889. 8,654,5ll2 8,901,646 8,352,995 9,985,8i2 S5.895, 105
stead of the falling off quite a respectable increase in New York.. ... ......... 1888.
1
7,120,700 7,655,706 7,436,84.0 8,887,282 81,100,028
1887. 8,262,388 8,781:1,062 7,772,0U> 8,651,141133,474,556
the aggregate of tbe outside cities.
•
1886. 8,526,118 'i,565,466 7,586,017 10,049,284 83,676,830
Improved totals are reported by nearly all the
1885. 6,098,312 5,788,162 6,518,641 9,747,086 28,152,201
prominent Western cities. Chicago, for instance,
1,806,942 1,845,535 1,337,807 1,469,20715,459,49\
1890 . 1,898,500 1,545,554 1,864,498 1,510,55~ 6,819,111
has a total of 4,457 millions against 4,093 mHlioos
1889. 1,381,940 1,355,816 1,267,506 1,475,02t- 5,430,390
in 1890, 3,380 millions in 1889 and smaller Total New England .. . 1888. 1,184,583 1,229,510 1,159,764 1,447,0811 5,020,946
1887. 1,200,844 1,842,.l88 1,129,855 1,295,434 4,007,821
totals in the years preceding. At St. Lou is the
l8b'6. 1,157,428 1,108,511 1,062,680 1,806.851 4,630,470
1885.
924,898 1,216,545 8,981,310
907,643
932,229
clearings at 1,140 mil1ions for 1891 compare with
189t. 1,269,643 1,SOl,788 1,~96,688 1,410.eo2 5,278,667
1,119 millions in· 1890 and 988 millions in 1889.
1890. 1,891,218 1,470,276 1,420,676 1,489,82~ 5,771,91!2
1889. 1,211,753 1,26~,80! 1,237,838 1,375,018 5,087,948
At San Franci sco, on the Pacific Coast, we also have
'l'otal Middle ........... 1€188 1,0H,e69 1,138,780 1,106,665 1,238,985 4,521,049
continuous gains, the amount for 1891 at 893 millions
1887. 1,062,564 1,184.,273 1,058,271 1,145.228 4,395,831
1886.
979,795 1,121,028 S,966,744
{;28,2!>6
937,625
comparing with 851 millions in 1890 and 843 millions
1885.
962,700 8,337,198
800,539
798,684
775,275
in 1889. The following furnishes a comparison for the
r1s91. 1,430,630 1,588,9\!4 1,612,852 1,796,680 6,42i,086
last ejght years of the clearings at several of the more
1,526,608 1,556,176 1,658,779 6,044,218
1889. 1:14s'.252 1,215,556 1,280,117 1,394,237 4,988,162
prominent cities. The trifling falling off at New Or- Tot. Middle Western. 1888. 1040788 1,133,862 1,148,718 l,296,6l'i 4,614,485
1887. '9s2'.030 1,151,213 1,077,103: 1,203,59-! 4,413,940
leans is rather noteworthy in view of the low price pre'8S,ll0 l,087,860 8,880,909
1886.
835,367
924,568
vailing for cotton and the effects on Southern trade
815,211
991,021 3,372,350
881,898
1885.
784.,220
307,28{, 1,133,589
289,059
269,853
occasioned by that circumstance.
1
r~·
r~l.
1
r~•lBM™
l
('""· ,.,..,.
DANK CLEARINGS FOR THE TW}<]LVE MONTHS.
((100,000s
omitted.)
1891.
$
1890.
$
1889.
$
1888.
$
1887.
$
1886.
'
New York ............ 33,749 87,458 35,895 31,100 33,475 · 38,677
Boston ................ 4,754 5,131 !l,773 4,427 4,388 4,095
Philadelphia. ..... ... 3,29fl 3,710 3,046 3,20! 3,194 2,913
651
621
659
616
Baltimore . .. ......... 73tl
753
Chicago . . . . . . . . . . . . . . 4,457 4,093 3,380 3,164 2,969 2,005
900
895
811
St. Louis .............. 1,140 1,119
988
524
604
431
New Orleans . . ....... 515
!l56
388
829
851
843
837
642
San Francisco ........ 893
188.5. 188\l
$
$
28,152 S0,986
3,183 3,2i3
2,37:l 2,520
582
632
2,319 2,266
769
785
455
388
562
fi57
'l'otal. .............. 49,5i0 53,639 60,680 44,709 46,840 !1.5,747 38,619 41,444
Other cities ........ .. 7,097 7,190 5,496 :i,838 !l,308 8,M7 2,855 2,756
Total all ............ 56,637 60,829 56,175 49,5!2 61,148 49,294 41,474 H,200
Outside New York ... 22,888 23,371 20,280 18,442 17,673 15,617 13,322 13,2li
Arranged by groups or geographical divisions, New
York being always treated by itself, .the clearings show
a decrease from 1890 in the case of the New England
group, the middle group and the Southern group, but
an increase in the case of the Middle Western (though
not the "other Western") and the Pacific. While
this is the general result in each mstance, the showing
for the different cities under the several groups is by
no means uniform. 'l,hus, while the New England
group as a whole records a decrease, this result bas been
chiefly controlled by the heavy loss at Boston. In the
Middle group, such prominent points as Philadelphia,
Pittsburg, Baltimoro and Wilmington have all
sustained decreases. In the Pacific group, notin
the lumber
.withstanding the
depression
trade
and
the reaction from the
speculative boom in real estate, the only loss is at Seattle;
Portland, Tacoma and Los Angeles, as well as San
Francisco, an have increased totals. In the Miid le
Western group only Milwaukee and Cleveland record
losses. In the "0th.er Western" group, however, 6 of
the twelve place have decreases. In the Southern
group the results are more generally unfavorable than
in any other section, 9 of the 13 points assembled
under that group being obliged to report diminished
t0bls; such an outcome, however, cannot occasion s·irprise, seeing that the South has suffered from the low
p"ice of cotton, the depression in the iron trad,,, an<l
other circumstances. Those who wish to compare th"
cle:-trings for any particular city in the several group,
will find full statements in the . COMMERCIAL AND
FINANCIAL CHRONICLE of January . 9 1892, page
i5. The annexeq. t_able Jives the aggreg~tes ip. thou1-
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Federal Reserve Bank of St. Louis
1890.
188\J.
Total P acift o.. .. . • • • • • • 18d8.
1887.
1886.
1885.
228,029
209,580
209,688
166,675
137,84d
189,Q7:.!
260,094
216,650
218,126
208,497
143,156
131,578
290,704
230,5~5
228,539
233,820
170,116
140,474
301,234 1,080,061
902,651
245,886
SIJ0,649
244,S!l.6
829,182
220,190
642,221
llH,101
56~.345
148,2:.!l
( 1891.
402,089
412,6\!5
862,249
288,135
261,671
166,276
109,703
444,862
481,969
381,280
347,727
812,729
203,310
133,002
458,285
478,302
388,1149
344,300
286,392
2\4,454
187,818
551!,843
518,958
459,:•83
408,Q09
815,996
266,083
185,:)81
1,857,579
1,886,854
1,591.861
1,389,077
1,176,7fJO
849,123
665,654
715,447
711,'.49
585,099
525,768
481,092
427,314
889,208
1)40,083
650,411
516,696
449,375
443,79!
890,689
848,513
605,764
618,460
493,951
426,30!
417,3
888,667
818,952
772,958
787,631
683,470
608,954
547,695
490,7M
446,410
2,734,202
2,768,251
2,279,216
2,005,401
1,889,909
1,697,424
1,503,088
l
Total other Western.
r:
1888.
1887.
1886.
1885.
(1891.
11890.
{ 1889.
'l'otal Southern .. . .. .. 1~.
1887.
l
1880.
1885 .
r 1591. 1s.100.2s2 18.933,574
'l'otal
an...... .. .. . . . .
•
1890.
1889.
1888.
1887.
1886.
1885.
l
11891 .
1890_
1889.
Outside New York.... 1888.
1887.
1886.
1885.
rn,so4,594 15,79ti,446 56,6St1,ss6
14,368,673 15,805,648 14,614,004 16,040,765 60,1329,090
13,508.465 18,850,948 13,201,891 15,619,524 56,l'i5,828
U,411,28112,162,5R6 11,840,686 14,127,182 411,5.U,635
12,417,214 13,381,75611,969,284 13,379,275 51,147,529
12,187,97111,258,996 11,384.,889 14,511,915 149,293,721
9,153,433 8,967,066 9,656,028 13,61Y7,514141,474,041
5.892,589
5,449,871
4,l:148,87'3
4,290,581
4,154,876
S.661,858
8,055,121
5,585,445
5,934,812
4,941.l,802
4,506,880
4,592,694
8,693,530
8,178,904
5,600,450
5,728,816
4,848.806
4,404,W6
4,197,269
S,796,822
8,137,387
6,309,030 22,887,187
6,256,1183 23,870,482
5.633.652120,280,223
5,239,900 18,441,607
4,728,184 17,672,973
4,462,681 15,616,8111
3,950,428 18,821,840
Excepting New York, every group here shows for
1891 larger clearings than in any other year excepting
only the preceding, and in the case of the Middle
W Jstern and Pacific groups 1891 clearings are the largest
w ithout any exception. The Middle Western group,
m ')reover-which embraces such important points as
Chicago, Cincinnati, &c.-sbows not only the largest
c1earings for the year but the largest clearings for every
quarter
the year, there having been no falling off in
the aggregates of that group in any quarter.
Taking the country as a whole, including New York
(stock transactions and all), the clearings fell off in
every quarter, but in the last quarter the loss was less
than in the others-that is, the result improved towards the close. With New York excluded, there is
actually a slight increase in the last quarter, though, as.
in the other case, the first three quarters all show declines. In both cases the heaviest losses are found in
the second quarter (April-June) the period just preceding that when the new wintervwheat crop began to
exert its effect. The subjoined ~umm~ry presents the
aggregates of. the cl~~rjI)gs by w?nths, both with (lBd
without New York.
of
•
J
~
,
•
• •
..
..
OLEARINGS .AND SPECULATION-MERCANTILE
MONTHLY OLEA.RINGS.
Olearing1, 7btal .AU.
Month.
----1---1:01.
1:00.
Olearl.ngB Outside New York.
IP.Ot.
1;1.
1;0,
P.Ot.
January.... 4,939,848,736 5,255,"5,846 1 -6'0 1,982,S",870 1,981,0!6,936 +0·1
February .. 8,949,471,428 4,449,780,668 -11·2 1,644,934,882 1,628,261,112 +1·0
March...... 4/~211,421,507 4,640,485,106! -9'2 1,765,3U.,985 1,817,561,516 -2·9
1st quar .. 18,100,236,671 14,345,661,110 -8·7 6,002,693,687 5,426,859,664 -0·6
April.... . .. 4,;85,~96,124 4,828,116,1391 _o:o 1,889,518,830 1,904,53!,973 -o·s
May... ..... 4,,89,060,612 5,88!,786,4-27 -18 6 1,882,822,090 2,096,~53,665 -10·2
June ........ 4.858,615,217 5,092,636,756 1-14"4 1,813,102,595 1,93-l,025,081 -6·3
2d quar. .. 13,933,571,953 15,805,639,322 -11·8 6,585,!43,015 5,934.Sl.'3,7191 -5·9
6 months. 27,033,808,621 30,151,200,43~ -10"3 10,978,036,702 11,861,673,283 -8-4
July ........ 4,371,ll85,989 4,827,282,487 -9"4 1,893,269,741 l,99!,125,0!3 -6'1
August. ... 4,158,848,818 4,794,466,373 -13"3 1 1,755,350,767 1,834,829,025 -4·3
September. 5,275,485,189 4,992,353,798 +5·7 1,952,964,980 1,900,360,459 +2·8
- - - - - - - - - - - - - - - - - - -- ------------
3d quar ... 13,805,719,996 14,6U,102,658 -5"5 6,601,585,i88 5,728,814,527 -2·2
9 months 40,839,6!<-B,620 44,765,803,090 -8·8 16,679,622,190 117,090,487,810 -s·o
October. . .. 6,460,363,280 6,809,390,833 -6·0 2,178,253,653 2,242,857,399 -2·9
November. 4,966,111,997 6,406,786,691 -8·1 2,017,851,088 2,057,017,531 -1'9
December.. 5,370,832,34.014,8!7,609,388 1+10·8 2,111,787,09!1 1,980,119,653 +6·6
Uh quar .. 15,797,807,61716,063,786,912 -1·6 6,307,891,835 6,279,99!1,583 +o·5
Year . .... . 66,636,836,237 60,829,090,002 1 -6·9 22,887,514.025 23,370,482,893 - 2·1
In the last month (December), it will be seen, the
improvement had gone so far that there was an increase
n the clearings as compared with 1890 both at New
York and outside of New York. In September there
had also been an increase, but it was not so large as for
December, and was followed by a falling off again in
October and November. The improvement is due in
part to the fact that the comparison is with le~s favorable
results in 1890, in part to the benefits arising from the
large crop movement, and in part to a revival of Stock
Exchange speculation. The effect of these various circumstances is strikingly shown by a comparirnn of the
December clearings for a series of years at some of the
more prominent cities. The only losses are at San
Francisco, New Orleans and Philadelphia/wh ile at the
other leading points very heavy gains are to be found.
As concerns the increase at New York, of course the
large transactions on the Stock Exchange have had considerable effect in bringing it about. The stock sales
n December were ~ot of exceptional proportions, but
at least they were considerably heavier than in December 1890, as will appear from the following, showing
the number and value of the share sales for each month
of the last two years.
FAILURES.
13
million shares dealt in in 1891, the number in 1886 was
over 100 millions, in 1882 over 116 millions and in 1881
over 114 millions. Even if we add on the 27,332,929
shares sold on the Consolidated Exchange, the 1891
total is bnt little over 96 million shares, or 20 million
shares below that for the Stock Exchange alone in
1882. The following shows the sales for 17 years past,
NUMBER AND VALUE OF SHARES SOLD AT NEW YORK STOCK EXCHANGE.
Year.
Stocks,* Av'ge
Values+
Shares. Price (ap'roxim'te)
I Vear. j Stocks,•
Shares.
Av'ge l Values+
Price (ap'roxlm'te)
1
1891.... 60,031,68~ 57"1 i.;3,812,247,4191 1882... 116,807,271 66"12 $7,689,453,486
1890 ..
71,282,835 60'2
8,977,661,103 1881 .... 114,511,248 71•59 8,197,506,40::1
1889 . ... 72,014,600 61'0
4,059,231,891 11880 . ... 97,910,009 69"60 6,819,086,0M
1888 ... . 165,170,108 62·5 , 3,539,510,143 1879 .... 72,785,762 56"85 4,186,688,570
1887 .... 84,91!1,616 61·1
4,508,778,800 Vl78 .. .. 1 89,875,598 54·10, 2,157,269,581
1886 .... 100,802,050 65"6
1 52·20 2,601,280,512
5,885,662,200 1877.... 49,1332,9601
1885 .. . 93,588,947 61:1
5,479,859,810 1870 ... · 1 S9,926,91:JOl 53·40I· l:!,182,050,488
1884 ... 96,154,1171 61"77 5,939,500,000 1875... . 53,813,937 53•20 2,862,903,683
1888 . ... 01,040,900 61•51 6,260,809,961
I
* The shares of stocks we take from the record .1rept by the Jow-nat oJ
Oommerce for the years 1875 to 1804, inclusive; since 1885 the totals
are our own compilation.
t The valueR of sales for the years 1875 to .1882, inclusive, are the
ttgures madti up by The Pu'>lic. The totals for the remaining years are
our own.
BUSINESS
CONDITIONS REFLEC11 ED
IN
MERCANTILE FAILURES.
Records of mercantile failures are oftentimes useful
in for .~casting the future, but generally the chief interest
they possess is historical. The latter is peculiarly the
case with the record for 1891. Indeed one would have
to go back even to November 1890 to get at the origin of the disasters which appear in R. G. Dan & Co.'s
report made public on the first day of the new year and
given in detail at the close of this article. For more
than twelve m~mths now the influ ences which made
these results possible have been in process of correction
and to-day if it were not for our currency weakness we
should pronounce our indnstrial condition more than
usually sound. In this way this list of faiiures has
grown to wear a character in relation to past and future events not so very unlike a roll of killed and missing after a series of battles which have terminated in a
treaty of peace.
At the same time considerable intere3t must be felt
SALES oF sTocKs AT THE NEw YORK sTocK ExonANGE.
in noting how far this record reflects the variations
1 91
1890 which have marked the progress of the change referred
8 Month. Number
Value,.
Number
Values.
to. For we have pa,sed through very severe trials and
of Share,.
p ar.
A t l
of Shares,
p ar.
A t l
•
fi n1ncia
· l mrces
· l
__
cua.
cua.
encounteredgreatrisks. No one rn
'
• , 6,863,019 546,416,800
•
*
here will forget
the shock experienced on the announceJan . ... 5,618,789 540,138,560
268,489,862
315,979,202
_
Feb .... 3,275,894 818,sM,625 115,663,847 s,199,190 472,192,000 311,174,518 ment the 15th of November 1890 of the peril which
March. f8,646,978
_348,087,345 ~5,297,053 4,497,653 883,144,125 234,407,943
a London banking house second to none in the world
1st qr 12,541,6611,206,530,520 639,450,762 16,049,862 1,401,752,926 861,561,663
Aprtl ... 1,18 3,8 18 609,306,920 422,osa,510 5,082 ,477 i 66,455 ,200 304,, 199 , 207 had been in.
For a week or more preceding that anMay .... 6,288,232 616,644,ooo 3?2,333,386 H,o52,1,91,051,1s9,065 1128,978,858 nouncement a va,gue conception of some secret but imJune... s,978,514 3110,688,625 233,so,,1s1 s,140,123 s1s,113,025 322,129,009
. h was h ar di y l ~ss
____ ,____ ,____ ,________ - - - - pending danger ha d prevailed, whte
2d qr. 17,4.50,564 1,706,539,!1451,028,7U,083 21,575,379 2,036,307,290 1,2.j5,307,974
6 mos .. 20,09 2,225 2,913,069,06 6 1,668,164,845 37,625 ,2413 ,438,060 ,215 2,116,869 ,637
trying. If we add to the foregoing the monetary strain
and panic in Wall Street which followed, and the
monetary strain which wa almost simultancou:-:ly felt
.
in
every Eastern city, and finally throughoat thd coun3d qr. 20,17~,032 1,963,687,200!1,097,299,283 12,~.0M 1,157,195,94.0 788,l7!1,524
o mos .. 50,168,257 4,876,757,165 2,755,464',128 49,913,305 4,595,256,155 2,855,34U61 try, we have a combination of ad verse infiuencf's seldom
Oct..... 6,736,872 652,261,4,50 373,563,805 7,165,761 681,679,820 !125.61!1,882 equaled .
Nov... 5,348,652 503,826,!175 1 302.os2,331 0,066,691 851,473,460 430,887,916
And yet, as an immediate result, no conspicuous
July ... . 3,1su11 809,692,100
August 5,845,883 57!1,806,250
Sept.... 11,176,232 1,079,688,850
Dec... 6,777,908
180,soo,153 s,oot,01s
324,018,668 !1,141,605
592,654,462 5,141,541
210,1u,235
392,012,815
488,382,390
116,583,444
2so,5B0,605
311,310,!175
643,327,!150 ! 371,137,155 5,137,125
483,269,100
265,817,234
4th qr 18,863,4'32 1,799,415,375 i1'0!6, 78 \2111 21,86~,580 2,016,~22~~ ::_122,32~,0~
1
!_ear... 69,031,689 1ll,676,112.Mo 8,812.2t1,uo 71,282,885 6,611,678,535 3,977,664,193
N otwithstrnding that in some of the monthsnotably September-stock speculation was quite active,
the total of the share sales for 1891 is only 69,031,689
shares against 71,282,885 shares for 1890. A1; c0m~
pared with most other years, the falling off is still more
mark?4; in ~act, with the exceptiot,1 of 1~~8 the 1891
total 1s tlt ~tl1-~1les~ \>~o\ to l878, As a a~nst the 6~
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Federal Reserve Bank of St. Louis
disasters occurred. Of course failures increast'd, and
tbe aggregate foe the last qnarter of 1890 was large.
But. it was generally remarked at the time that financial
and mercantile classes showed no little strength, indicatirn of a healthy situation of industrial affairs ratbe.r
than un<lue expansion. The e~planation is that though
our breadstuffs crops in 1890 had been short, ij fo,rge
portion of the year's yield, be ides an unexpJcted sur ..
plµs troll). the 1Jelq. Qf ~4~ prev~ou ;rear, w~~ ijJ'ijWij
MERO.ANTILE F.A.JLURES.
14
from farmers' hands and marketed at high prices, while
the cotton production proved phenomenal and the
quotations until some months · 1ater remunerative.
Under these recuperative influences, added to a close
money market during the previous months of 1890,
which restricted enterprise and induced caution, the
country had actually regained vigor if not started on
the up-grade when that severe shock to credit overtook it.
Why, it may be asked, if such was the situation here,
did not our industrial condition right itself more
quickly. The answer is to be found in the fact that
the United States is now but a part of Europe, and,
being a debtor nation, a very dependent part. Credit
disturbed in London, Berlin and Paris means in any
case embarrassment in New York. But in this case it
meant more than that. Without taking•time now to
closely scrutinize events, it is sufficient t o say that the
critical condition which had its start in L ondon had its
source in foreign investments and that this has been its
feature ever since,_ a sense of insecurity in "internationals" having for obvious reasons spread over the
entire Continent. The United States under these circumstances could not hope to escape, especially as we
were at the moment in a degree vulnerable. Our
railroads were not prospering in the winter of 1890-91,
and even worse results than the roads were then
showing were anticipated in later months because
of the short crops of 1890. And in addition to this
there was the weak feature in our currency, which gave
specific direction and force to a distrust in investmen ts here. The rest is well known. With an absolute cessation in the ordinary flow of European capital
to this centre, and w-ith a return to America of such of
our securities as could be dislodged or were afloat in
Europe, an export of gold set in the like of which
had never occurred, being kept up un til July had
half passed. Of course under these circumstances
industries became more and more depressed, traders'
endurance was more and more severely tried, and failures continued to be of frequent occurrence.
These suggestions afford the necessary help for an intelligent examination of the record of d isasters. We
give a summary which includes the figu res for the two
previous years also, as they aid in indicat ing the course
of events.
Pirst quarterNumber of failures .. ..
Amount of liabilities .. .
Second qum·terNumber of failures.. . .
Amount of liabilities .. .
Third quarterNumber of failures . . ..
Amount of liabilities . ..
Fow·th quarterNumber of failures.. . .
Amount of liabilities . . .
i89 l.
3,545
$42,167,G31
1890.
3,223
$37,852,968
1889.
3,311
$42,9'72,516
2.529
$50,24 ~,636
2,162
$27,466,416
2,292
$22,856,337
2,7.34
$ 44,302,494
2,196
$35,452,436
2,276
$39,227,045
3,445
$53,149,877
3,326
$89,085,14 4
3,003
$43,728,439
Num ber of failures .. ..
12,273
Amount of liabilities . .. $189,868,638
Average liabilities .. ....
$15,471
10,907
$189,856,9 64
$17,406
10,882
$148,784,337
$13,672
Total yea1·-
Note first the comparatively small failures for the
earlier three quarters of 18U0. Both in number and
in liabilities their aggregate is less than in 1889, notwithstanding the money stringency which prevailed,
call loans at the Stock Exchange. in evecy one of the
fir_,t nine months of 1890 except March having reached
9 per cent or above that. It is important to note this,
because the improved and improving condition of traders is more clearly indicated when it is remembered
that the number of those who dropped out decreased even
under suoh a severe test of ~ndurance as tho money
mMket pre..,ented, But with the final quarter of 1890
oal.ll th9 E}ffect Qf th st{:\rtli
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Federal Reserve Bank of St. Louis
These effects are seen more particularly in the aggregate liabilities ($89,085,144), the number of the disasters
not being conspicuously large ; the severity of the trial
is understood better when we recall the drop and panic
in stocks following the disclosures and the condition
of the loan market which concurrently and . for days
thereafter was such t.hat it was almost impossible for
any one to procure accommodation, while for weeks
credit remained in an extremely disturbed state.
The year 1891, starting under such conditions and
meeting as tho year progressed the new trials incident
to our large gold exports which we have narrated
above, presents of course a record of increased ,
failures, except for the last quarter, when they were
comparatively small. We say comparatively small
because the last quarter of the year affords almost
al ways the largest totals. Thus in 1891 the liabilities
in that quarter were a little less than 28 per cent of
that year's total liabilities; in 1890 they were about .47
per cent ; and in 1889 they were 29½ per cent; while
the number of failures iu the last quarter of 1891
was 28 per cent of the total number for the year,
against 30½ per cent in 1890, 27½ per cent in 1889
and 29½ per cent in 1888. Take the record of 1891 as
a whole we should say that the results were much less
unfavorable than might have been expected, while the
final quarter indicates that the change in the industrial
conditions which has now taken place has proceeded
so far as to relieve in a considerable measure the strain
under which mercantile classes rested.
There are two other points which must be included
in this review to obtain a clear understanding of what
the record of business disasters teaches. We refer (1)
to the relation which the total number of failures bears
to the total number in business and (2) to the average
liabilities of each insolvent. On the latter point it is
not possible to gain exact information from these
statistics because the liabilities are always given in one
total, and consequently a few add "tional or a few less •
large failures in any year raises or lowers the average
liabilities abnormally. The Messrs. R. G. Dun & Co.
would greatly add to the usefulness of their compilation
by giving each year a short additional statement dividing the liability item into classes; that is to say, showing the number and amount of liabilities contained in
the year's failures which report over $1,000,000 liabilities
each; also the number and amount of liabilities of
those failing reporting less than a million and over
$500,000 of liabilities each; and so on until the classification is brought down to those with say $10,000 of
liabilities each. With some additional information of
this kind, accurate and important conclusions could
be reached with reference to business conditions, in
the place of conclusions which now can be only approximated.
The other matter rt!ferred to above (that is the pro.
po~on of failures to the number in business) is covered by the report, and is an item of information which
is indispensable for any correct comparison of the rate
of disasters from year to year. Obviously the number
in business always increases, so that if the number of
failures does not concurrently increase the proportion
of failures to the number in business bas relatively
decreased. This is an essential distinction in any contrast like that we are now making ; and consequently the subjoined statement, which gives these
figures tis well as the total and average liabilities,
afford& f;liU int~re§tin~ CQmpa:rt&QPi fqr . loug &erie
dts9lgs~:res in L ndou., y~airs,
MEJUJ..4.NTIL.E FAILURES.
Number
of
Failu res
Number
in
Business,
15
I
Proportion
Liabtlitiea.
Faiturea to No. _ __ _ __ _ _
in Bus iness.
Total.
A.1'erage.
J 883, was felt most keenly in 1884, and extended into
1885 ; the death rate for 1884 reached 1 in 83,
- --- -1----1----- -1- - - ---- .- - - - - - ---189L ••. 12,273 1,142,951
1 in 93
$189,868,638 $15,471 with liabilities amounting that year to $226,343,427,
1890..••. 10,907 1,110,590
1 in 102
189,856,964
17,406 affording the large average of $20,632 each. The pres1889. ____ 10.882 1,051,140
1 in 97
148,784,337
13,672
1888 ..••. 10,679 1,046,662
1 in 98
123,829,973
11,595 ent depression is the third period of special liquidation
1887..... 9,634
994,281
1 in 103 '
167,560,944
17,392 during the years included in the foregoing table, be1886... . . 9,834
969,841
l in 98
114,644,119
11,651
1885.. ••. 10,637
919,990
1 in 86
124,220,321
11,678 ginning in the last quarter of 1890 and extending
1884..•• . 10,968
904,759
1 in 83
226,343,427
20,632 through 1891.
It has been much less severe than
1883.. . . . 9,184
863,993
l in 94
172,874,172
18,823
1882. .••. 6,738
822,256
1 in 122
101,547,56-t
15,070 either of its predecessors, for the reasons already stated.
1881. . ... 5,582
781,689
1 in 140
81,155,932
14,530 Indeed, the increase of the number in business is so
1880..... 4,735
746,823
1 in 158
65,752,000
13,886
constant and rapid that to bring 1891 to a level with
1879.....
6,658
702,157
1 in 105
98,149,053
14,741
1878 ..••. 10,478
674,741
1 in 64
234,383,132
22,369 1878 in the matter of liabilities the 1891 total liabiliThe above discloses plamly enough the years of ties would have to reach $274,534,737, and to brmg
greatest loss to the mercantile community. There has I1891 to a level with 1884 the 1891 total liabilities would
been no recurrence of the disastrous year of 1878, when have to reach $253,216,536. No oth er test than these
the rate of failures was 1 in every 64 in business and :figures afford is needed to show how much sharper the
the total liabilities were $234,383,132, with an a erage crises of 1878 and 1884 were than has been the crisis
of $22,369 each. The next severest reverse began in I of 1891.
Y ear.
!
MERCANTILE FAILURES IN THE UNI'l1ED STATES AND CA AD.A. FOR SIX YEARS.
FAILURES FOR 1891, 1890, 1889, 18S8, 1887 AND 1886.-PREPARED BY MESSRS. R. G. DUN · & CO.
1890.
1891.
1888.
1886.
Mt mber
Number
- 1889.
· 1887.
nBusi- States and Ter- No.
in BusiNo.
No.
No.
N(!,
Am0ttnt
o
No_.
~ssin
ritories.
A.m<ntn t of nessin
Fail- Amount of Fail- Amount of Fail• Amount of Fail- Amount of Fail- Liabil T
Fail1891.
1886.
it i es. ures. Liabilities.
ures. Liabilities. ures. Liabilities. tires. Liabilities. ures. Liabilities. itres.
'
Eastern.
14,711 Maine ........
8,304 N. Hampshire.
6,471 Vermont ... ...
50,742 Massaohu't's
B ost on .. . .
8,608 h ode I sl and.
1 8,696 Connecticut ..
I
1 07,532
Middle.
!
-
Southern.
$
1 6
1,114,582
49
44.9,136
40
319,253
4 2 4,656,~65
320 16,130,63-1
1 0 10,048,642
1,624,657
l 7
160
56
3-l
397
275
132
137
$
1,457,797
458,845
197,950
4,381,262
4,044,412
1,226,886
1,265,103
162
48
45
375
275
122
117
$
1,811,778
203,650
236,088
4,106,140
4,848,617
3,127,662
3,500,4.84
-- - - - - - - - - -
$
167
48
45
341
285
92
132
3,225,279
14,010
4~9,712
8,256
543,494
6,543
2,109,802
9,319,040 } 47,977
725,547
7,047
1,906,684 16,842
712 7,899,377
637 26,092,583
187 4,479,534
879 14,190,744
404 11,256,843
29
434,600
115 2,530,927
42
357,111
748
8,475,447
576 44,045,679
154 2,779,871
853 10,988,053
308
6,881,412
18
213,822
152 2,254,304
34
253,800
5 9
9,495,033
5 5 17,351,580
128
1,469,8rn
9,178,113
7 3
9,886,.!27
278
15
156,200
1 9
1,226,094
157,145
5
7,944,679
599
690 17,060,170
J,4t:l5,847
151
6,849,738
691
3,650,030
213
324,200
26
174 1,975,593
339,819
59
553 8,273,224
516 40,841,506
120 1,722,971
694 7,056,083
240 8,252,109
26
495,219
152 3,050,461
44
288,865
621
5,694,088
528 16,571,667
111
622,218
617
5,523,064
205
2,869,017
25
176,500
129
3,631,971
35
280,463
86,006
50,562
27,499
80,932
25,594
4,044
15,630
3,595
----- - - -
180
72
128
82
274
144
258
246
181
539
185
390
426
1,629,163
349,900
1,381,706
518,908
5,829,903
1,486,411
3,3H6,365
1,924,576
:-i,740,lOi
8,960,141
2 .203,819
7,695,245
6,394,298
148
67
109
72
145
41
186
195
157
331
212
233
257
- - - - - ---
1,203.525
407,024
670,640
419,915
1,671.878
- 155,360
2,226,300
1,437,564
4,594,836
4,002,575
1,817,305
2,991,976
6,144,020
1 1
77
1 7
2
15 1
49
1 4
1 8
1 5
387
173
223
219
1,403,900
336,943
1,384,754.
928,317
1,627,945
348,142
1,368,252
971,906
1,686,714
4,503,138
9!~4,392
2,157,010
2,060,527
----
168
69
151
66
2UI
69
161
132
202
568
156
285
206
1,927,770
442,974
1,408,924
424,867
2,706,494
407,177
1,692,622
1,088,615
2,471,778
4,110,355
1,245,546
1,939,077
1,555,921
138
57
145
78
195
107
99
140
193
503
90
281
198
1,046,606
385,631
1,098 ,932
1,073,827
1,713,462
564,469
1,637,477
1,133,134
2,363,374
7,098,241
837,900
3,274,244.
1,480,604
223
77
113
111
215
78
118
173
205
507
100
275
154
1,750,737
548,783
969,961
1,053,774
1,872,763
603,302
1,S78,716
1,127,102
2,780,313
5,313,727
1,178,651
2,444,040
1,679,639
14,499
8,177
9,311
6,726
10,552
4,334
9,018
8,276
10,635
18,381
7,627
21,873
12,605
Tot. South'n 3,105 45,510,537 2,153 27,742,918 2,2 6 19,771,940 2,446 21,422,120 2,224 23,707,961 2,349 23,201,508 142,014
Western.
77,069 {Ohio ........
Cincinna ti
41,969 Indiana ...... .
{
illin(?iS
. ••...
83,104
Chicago ..
49,391 Michiga n .... .
a4,231 Wisconsin . . . .
37,26~ Iowa . .. . . .. . ..
20,58 8 Minneso ta ... .
50,039 Missouri . ...
St. Louis ..
22,302 ansas .... ____
20,598 Nebraska .... .
3,009 ~Orth Dakota.
5,8-!4 South Dakota .
4 ,021 Montana .... .
13,496 Colorado . . .. . .
k
4 62,924
$
130
1,238,691
47
383,985
39
404,479
405
3,715,237
265 16,547,968
107 4,036,647
176 1,447,617
T otal Middle 3,005 67,241,719 2,843 75,892,388 2,542 48,920,238 2,603 39,630,076 2,315 69,980,438 2,271 35,368,988 293,862
19,514 Virginia . ••....
9,847 West Vtr~nia.
13,139 No. Caro ina . .
8,424 So. Carolina ..
17,625 Georgia·--·· ..
5,222 Florida . . . . ...
10,229 Alabama ......
8,453 Mississippi. . . .
10,297 Louisiana ... .
27,735 Texas ......•..
10,575 Arkansas .. . ..
25,647 K entucky .....
14,874 Tennessee ... .
1 81,581
$
813,510
215,979
225,107
6,386,321
7,4'37,6(10
1,541,341
2,719,020
Tot. East ern 1,187 19,388,878 1,169 27,774,624 1,364 34,343,869 1,191 13,032,25J 1,144. 17,834,419 1,110 18,259,558 100,675
90,833 N ew York . .. .
58,115 N.Y. & B'lm.
34,38-l New Jersey . .•,
93,235 Pennsylvan.
24,398
Philadelph.
4,032 Delaware .....
Ui,036 Maryland . ...
4 ,988 Dist. of Col. ...
3 28,021
140
46
43
42:'.>
239
102
193
498
80
2118
242
2rl9
232
172
185
258
320
40
275
395
14
32
83
2 64
4,590,143
2,255,605
l,o71,2a9
1,545,246
4,758,56q
2,308,282
3,234,330
1,267,704.
2,ti99,28 1
11,255,287
· 913,608
5,625,331
3,288,365
1 81,041
509.856
983,245
1,544,525
470
85
224
335
308
216
164
241
323
310
48
32:'>
271
13
67
45
169
-
5,262,707 424
1,52~,506
77
2,912,144 211
1,928,881 376
7,856,550 341
6,082,924 258
3,129,201 2 2
2,424,545 325
5,856,857 356
3,797,306 298
1,009,565
29
4,539,779 292
1,573,500 2'.76
96,264 1 1
1,182,765
410,89fl ···34
981,894 165
7,225,220
668,878
1,845,798
2,428,798
4,857,567
3,674,998
2,469,035
2,579,762
4,299,235
2,155,669
817,201
2,62f1,209
1,538,718
610,227
534,274
817,001
457 4,191,599
1,605,207
81
2,134,627
259
2,216,438
318
360 6,712,900
232 4,H65,95o
211 2,i72,182
284 2,510,107
316 . 4,811,722
1,145,842
166
893,626
52
1,225,393
244
968,620
248
105 1,240,427
21
149
Tot. Western 3,587 48,631.656 3,614 50,573,284 3,465 37,190,088 3,228
Pac.~ Ten~it's.
932 Oklahoma .. ...
1,238 Indian Ter . ...
7,452 Oregon . .. . . . ..
30,875 Californi a ..
8. Francisco
1,300 evada ..•. . ..
3,fi57 Utah·-····· · · ·
1,556 New Mexico ..
916 Wyoming . . .. .
1,920 Idaho .•.......
11,857 Washington ...
1,048 Arizona ......
142 Alaska .••.....
k
13
84,200
14
118,100
157
679,600
466 2,402,800
232 2,339,500
6
60,300
736,400
139
184,048
10
23,000
4
28
126,800
309 2,274,'iOO
66,4.00
11
-62,893
Tot. Pao.& T. 1,399
I ,,r.P,9.P
Grand totals r2,273
26
13
!:Sti
471
170
10
40
13
2
20
266
11
317,300
37,000
591,500
2,485,000
1,739,400
170,200
159,550
111,700
5,000
152,100
2,030,800
.74,200
5
8,900
4 __...
24,500
66
250,300
520 3,239,300
193 1,0tW,500
13
44,500
137,100
28
25
155,400
170,200
7
19
166,000
119 1,235,500
104,500
6
. --· -2.
139
462
185
9
21
4
19
23
65
7
......
....
---- . ·-· ..... -- . ······ ·--·. -- .. -··
9,095,848 1,128 7,873,750 1,305
8,558,202 1,211
- - - - - - ro,882
r&;,868,638
.......... ....
ro,907
r&;,856,¢4
r48,781-,337 ro,{179
146,333
1,264,647
398
118
212
30d
320
189
152
302
269
140
55
289
196
114
···39
79
4,405,896
4,419,254
1,838,494
2,459,744
5,997,478
1,875,915
2,380,950
1,976,822
3,222,800
904,222
2,140,700
1,702,286
644,948
1,151,850
534,823
479,368
489
91
235
371
275
202
1 88
373
202
164
69
297
1::$5
100
···10
82
----·
35,554,219 2,948 33,969,509 3,091
21,500
1,086,000
3,315,100
4,660,700
54,400
99,133
14,250
1,571,100
266,713
410,000
41,000
272 1,660,700
183 15,282,606
14
45,800
213,557
39
253,199
17
11 1,367,400
16
165,700
233,500
54
6
33,000
343
211
12
9
12
11
7
63
17
973 22,068,617 1,013
rz.3,8:19,973 9,6.J,1. r67,56o,944
9,834
84,386 Dom. of Can•. 1,889 17,100,649 1,847 18,289,935 1,777 14,713,223 1,677 14,081,169 1,252 10,386,884 1,206
* Inolucllng Newfoundland,
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-
} 66,812
36,142
} 64,922
33,599
28,517
30,102
2d,232
} 46,334
22,560
14,543
} 10,451
231,800
2,698
698,520
6,975
29,842,615 389,887
.. ·-· ·- -.... --· .... ---· -. .... ·--· ·-··
""i20 647,200 ""izi
717,900
..... --- -.... - ············ . .....
14,191,303
4,279,101
2,562,457
2,739,089
3,923,672
4,263,684
2,269,007
1,940,167
1,922,313
2,205,740
994,897
847,035
1,050,736
844,723
765,973
}
421
5,732
1,544,000
2,756,400 } 24,278
134,800
1,299
20,307
2,509
373,400
1,572
44,100
8~9
2,193
9,800
420,650
3,455
253,800
997
58
---·-·······
7,971,450
43,403
8,861,609
72,680
-rr4,644,rr9
- - - - ¢9,841
--
BANK ING AND FINAN CIAL.
STATIST ICS-HOM E
GOVERNMENT FINANCES, N.ATIONAL
BANKS, SILVER, &c.
From tbe annual report of Hon. Charles Foster,
United States Secretary of the Treasury, the following
extracts are made:
RECEIPTS AND EXPENDITURES.
Fiscal year 1891.
The revenues of the Government from all sources for the
fiscal year ended June 30 1891 were:
From cmtoms ...................... ...................... $219,522,205 23
From internal 1evenue........ ..... .... ..... ...... ...... 145,686,24~ 44
From profits on <>oinege, bullion deposits and assays.
7,701,991 8~
From sales or public lauds............... ......... . ... .
4,029,535 41
From fees-consula r, letter.••pateot, and land........
3,0Hl.781 84
Fr, ·m sinliln!l•Jund for Pacific railways........... ....
2,326,35 .:i 37
From tax on national banks............... . ....... .... .
1,2.:11>,042 60
From ou11torus fees, tines, penalties and fo rfeitures...
966.ltl 82
From repayment of iut, rest by Paci.1c railways......
823,904 04
From ,;iales of Indian lands.. ..... . ... . ................
602.545 3~
~rom Suldiel'E,' Home, permanent fund...............
308,648 ::14
From tax on seal Bkms. ... •••. ..... ... . .. . . . ... ..•.. ...
2ti~,6 73 88
Bl'Pm immigr>1nt fund................ ..................
2~2,'271 00
l+'rom sales of Government prorerty. ... ..............
259,379 05
Ji'.,rom tleposirR for surve.)-ing publiu land... . ............
131,422 80
From Nat1hville & Chatti.nooJ;!a kailroad Company...
50fl,OOO 00
J!lrom sales of ordnance material........... ...........
122,663 01
Fr< m sales o! condemned 11aval vi>ss, ls............. ..
78,037 36
From dPprt>dations on public lands....... . ............
55 ,905 8a
F.rom th.- rniatrict of C• lumbia... .. . .. .•... •• . .... .. ...
2,853,897 74
From miscellaneous sources............. ..............
1.;;25,806 3?1
From postal 1:1ti1 vu:e.......... .•. ....•..... ... . . .. . ..•••.
65,93 1,785 72
'.l.'otal receipts ..................... ................ $458,544,233 03
The expendit.ures for the same period were :
For the civil establishment, including foreign intercourse, public buildings, 1·ollecting the 1evenues,
detldency in pot,tal rtiVt'nUt-8, 1etlate of tax on
toba£•co, refund or dirt>ct tax es, French spoliation
<'laims, D1st. or Columbia, and othtr miscf'll. expenses.$ 110,048, 167 49
For the military eEtalJlishme, t, including rivers and
harbors, torti-, arsenal" and i;;ea·<'oa;.t dtcft-nses... .. . .. 48,720,065 01
For the naval eetablishment, ioclurtiog <>oni:1tructi"n of
new ve~sels, machinery, 1trmament, equi,1Jment and
improvew1-nt at navy•y ards..... .....•...... .. . . .. . .. . 26,113,896 46
F,1r lndian serv ·ce..... ...•.•.......... ... ......•. ..•. ....
8,527,4611 01
For l)ensions ........... . ...................... ..•.•••.... 124.4111,951 40
For interest on the public debt................ ........... 37.fl47,la5 ::17
For postal se1vice.... .• •.•. ...... ........•• ..... ... ... .•• 65;931 ,785 72
AND
From
From
From
From
FOREIGN .
cwtoms .....•...••...•..•.... ....•.......•.•••.... . $185,000,000 00
internal revenue ..•...•...........•... ....•..... ... 152,00C.000 00
miscellaneous sources.......... .. ................ . 25,0t •O,OOO <:o
postal service............ ....................... ... 71,000,000 00
- - ---
Total estimated revenues ...................... .... .. $133,000,000 00
The expenditures for the same period are estimated as f oJlows:
For
For
For
For
For
For
For
thti civil establishment .................••... •..••.. $100,000 000 00
the mUitary establishment . . . . . . . . . . . . . . . . . •. . .•. . . 46,000,000 00
the naval establishment.... ........................ . 32,000,000 00
the Indian Service............ ....................... 12,090,000 00
pensions.......... ....................... ........ . • • . 125,000,000 on
interest on the public debt........... . . .. . .. . . . . . . . . 23,000,000 00
postal service•..•...•..•............ .•••..•.....•••••• ~1,000,000 00
Total estimated expenditures ..•..•••..•..•••..••.• •. $-l09,000,000 00
Leavillg an estimated surpl118 for the year or...... $24,000,000 oo
The following is a statement of t.he proba.ble condition of the
Treasury at the close of the present fh1cal year, June 30 1892:
f'ash in the TrPasury .J uly 11891, incl. gold reserve ... $153,893,!108 83
Surplus for year, as above........... .. .......... . ....... 24,000,000 00
DepositR during year tor redemption of nat' 1 bank notes._ 3,000,000 00
Total amount available ..•.•.•.•••...•......• ••••••.. $180,893,808 83
Less.
Redemption of national bank notes
during the year........ . ....... . .... $16,000,000 00
Redemption of bonds, intere1,1t not, s
and frac~rnnal currency to N ovem·
ber 1 1891. .•.••• . ..............•.. 20,911,163 00
Redemption of sa.meitema during remainder of year................ .... 4.,254,1)00 00
41,165,663 00
Caah balance available June 30 1892 ............... $139,72!:S,145 83
Fiscal year 1898.
It is estimated that the revenues of the Government for the
fiscal year 1898 will be :
From customs .....•...... . .•.......•...•........ ......•• $lf5,000,000 00
From internal rt-venue ... . ··-· ...................... ..... 158,000,000 00
From rn1s }ella.Deous sources.... ... ......... ..•.. ......• 22,000,000 00
From po1:1tal sel'Vioe. .•• . . . . . . . . . . . . . . . . .••....... .. . . . . . . 8,,,336,350 44'
Total estimated revenues .............••..•.... ... ~ .. $455,336,350 4.~
The estimates of appropriations rtiquired for the same
period, as submitted by thtl s~veral Executive Departments
and offices, are as follows :
Legislative establishment...... .. . . . . . . . . . . • . . . • . . • . • . • •• $3,492,089 95
E:xecutlve establishmentExecutive proper............. ...........
$143,850 00
Total expenditures ...................... ........ ..... !F4'H.304.470 4.6 Stat~
Depa1·tmeot ....... . ... .... . ... ..•.
166,510 00
'l'reaFury Dt'partment. .•. . . . .. . . .. . . . . . . 9,108,886 10
Leavlug a surplus of ..•...•...•••.....•.. . ..•...• . .....••• $37,239,762 57 War
D Apartment........... ..
2,247,178 00
'l'o this sum was added $54,207,975 75, deposited in the Treas- Navy Denartment....... . ........ . .•....
416,920 00
Ddpartm, nt............... . .... 5,202,924 00
ury under the act of July 14 18!JO, for the redemptiun of na- lnterior
Post-Office DepartmPnt.. .. .. . .. . . . •.. .. .
923,3t,O
00
tional bank notes; $9,363,715 deposited during the year on the Department of A!!'riculture........ ..... 3,360,995 50
same account; $3,810 received for four per cent bonds issu~d DepartmPnt r,f Justice............. .....
184,750 00
175,470 00
for interest accrued on refunding certificates converted during Dspartwent o! Labor.:............ .....
60
the year, and $34.132,372 16 taken from the cash balance in Judicial e~tablishment ............ ..................... .. 21,930,343
692,600 00
t-he 'freasury, making a total of $134,947,635 48, which was Foreign intercourse ........••............
2, 138.466 14
...•....•......•
MiJlt11ry establishment ........ . .........•..•......... •..• 26,299,170 77
applied to the payment of the public debt, as follows:
Na.val est-abllshment ........... . . . . .. ................... . 2ti,36fl,654 75
Redemption ofIndian affairs .•.............. . .. . ...................... ...
8,603,907 76
Bonds, 1ractional currency. and notes for the sinking
..•...........•.... . ......... ············••··••··. 147,064,560 00
fund, including$3,8o0,08 6 28 premium paid on bonds.· $4 7,&66,197 65 Pt>n1,1lons
Public
WorksLoan uf 1847 ..•.. .•. ..... ... . .. .. ... . . .. .... ..•. .•..••. .. .
300 00 Lei;rislattve....... : . . . . . . . . . . . . . . .. . . . . . • 1,041,885 00
Loan of July and August 1861... . ..... .....• . •••..... ..
21,100 00 Treasury Der•artme ... t... . ... . .... .••. ... 3,125,479 95
J;oan of 1863.... •••••••. .•••.... .•• . ..•..... • . . . .•• . . . . . .
loo 00 Wsr Drp,utment .••.. ••. .•. •.••.. .. . .••. 13,208,393 00
Loau of 1863, contillued.......... ... ........ •. .••... .• • •
300 Ou Navy Departmt>nt...... .................
828,~8:'> 05
Five-twenties ot lb62... . . .•• • ••. . .•. . .•. •••.. .•. . . .• . .. .
l nO 00 Interior Department....... .............
290,665 00
Five-twenties of June 1864 ••..•• . . ... .••..... ......•...
10,650 00 Department o:r Justice............. .....
5,800 00
eonsols t,f l8ti5................ .... ..... ... . .. .. ... .... ..
15,850 oo
18,501,208 00
<'onsols £f li-67................ ... .............. .... .... ..
25,450 00
MlscellaneousC'.lons, ,ls of l8ti8. ... .••. ..•. .. . . . .•. .... ... ... .... •... ... . .
20,050 00 Legis ,at i" e· .... . ....••..••.•••..••... .... $3,076,141 86
Ten-fo1t1es cf 1864 •••..• ·-···. .. . ... .. . . . . .•. .••. . .......
11,~oo oo State Department.•.••.....•.••..••.... ...
s.ooo 00
Funded loan of ! 88 l. ......... _..... . . . .. . . . . . . . . . . . . . . . .
5,000 00 Trt'asury De artment..••......•...•...•. 9,779,084 90
Funded loan of 1881, continutd......... ... ...•• • ... . . . .
7,800 00 War Department .......••..••..••..... ..• 5,501,861 60
Loan of 1882 •......••.•••..••.... . ..•.. :. . . . . . . .•. . . . . . . .
60,200 00 Interior Department ......•..•••.••..••.. 3,928,8.n 00
Hounty land scrip.......... . . . .. ..... ... .. ..... . . ........
100 00 Department of Justice ..•..••..••...•... 4,765,787 60
0 d demand, compound interest, and other notes......
5,055 00
National bank notes............... ................ . ... . .. 23,553,298 50 DJ strict or Columbia .••...•..••..•••..•. 5,60~, 125 17 s2,66e,822 13
Purchase of@er vice ..•. ... ..••..........••...... ..•••..•.....•.. 80, ,23,400 51
Funded loan of 1891................ ......... ............. 80,2-16,150 00 Postal
Perm'4nent annual appropriat1onaFunded loan of 1907 .••.••.. .••. . .•. .... . . . . ..... ...• •.. . 26,507,~50 00 Tnteret-t
on the public debt............. . 26,000,000 00
Premium on funded loan of 1891. .•. ..•. .••...•. .•.... ..
13f> tJ9 Refundillg-custom s, inter. rev., &c .... 17,431,200 00
F,remium. on funded loan ot 1907........ . ... . . .. . . . . • . . .
6,540,998 34 Colleoting revenue from customs....... 6,500,000 00
Mi.sce1laneous.. ••. . .• ••••. .•. . ••. . .•. . •• . 4,300,680 oo
Tota.I .••.•••••••.•...•••... •.••• , .••.......• . .••.•••... $134,947,635 48
73,231,880 00
As compared with the fiscal year 1890 the receipts for 1891
· have fallen off $5.418,847 52 and there wtt.s an increase
of $51,686,198 14 in the ordinary expenditures. * * *
Fiscal year 1892.
For the present fiscal year the revenues are estimated as
follow&:
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Total estim'ed appropriat'a, exclusive of sin.k'g fund.$4.U,300,093 6 l
Or an estimated surplue of ...................... ...... $U,036,2?>6 83
SINKING FU.ND.
The requirements of the sinking fund for the current fi::ica.l
year are estimated at f48,913,025. The applications to the
B.ANKINO
A ND
fund to November 1 1891 consisted of bonds. interest notes,
and fractional currency amountin~ to $20,911,163. The A.dditional application of similar itemij of indebtedness during the
remainder of the year, and of national bank notes red . . emed
under the provisions of the act of July 14 1890 in excess of
deposits received during the year for the redemption of such
notes, estimated at $4,254,600 and $13,000,000, respectively,
will bring tbe total amount to be applied to the fund to within
$10,747,362 of the estimated requir3ment.
THE FOUR AND ONE-HALF' PER OENT LOAN.
The original issue of 4½ per cent bonds authorized by the
a.cts of July 14 1870 and January 20 1871 consisted of $ 181,~96,160 registe,red and $118.403,850 coupon bonds.
During the fifteen years' ex1litence of the loan there were received and canceled $77,480,7\JO coupon bond~. for which an
equal amount of registered bonds was issued, and there were
retired by purchase or redempt.ion prior to April 1 1891 $168,039,300 registered and $28,106,450 coupon bonds. The amount
outstanding April 1 was therefore $53,854,250, of which $41, 087,650 were registered and $12,816,700 co,1pon bonds. These
by their terms were redeemable at the pleasura of the United
States after Sept.ember 1 1891, and were being r eceived for
redemption, with interest to that date, in pursuance of a circular issued by my predecessor October 9 1890. 'l'he bonds so
redeemed wt>re paid from the surplus revenues, under Sect.ion
2 of the act of March 3 1881, the Sinking Fund for the current
year having been completed by purchases and redemptions of
4 per cent and 4½ per cent bonds during July and August 1890.
In view of the requirements of the sinking fund for the
fiscal year 1892, it was deemed advisable to suspend the
redemption of 4½ per cent bonds until after that year should
begin, and a circular was therefore publi hed, under da.te of
April 25 1891, rescinding that under w.h ich the bonds were
then being redeemed and reserving the residue of the 4½ per
cent loan for adjustment within the fiscal year 1892. There
had been presented for redemption in April, prior to the issuance of the circular above mentioned, $2,985,050, and the
amount outstanding subject to settlement at the option of the
Government after September 1 1891 was therefore $50,869,200,
consisting of $39,202,300 registered and $11,660,900 coupon bonds.
Nearly twen.ty. ix and one-half millions of the regifitered
. bonds were deposited with the Treasurer of the United States
as security for circulation and public moneys, and many of the
banks to which they belong;,d would be obligt1d to replace
them with other bonds at great expense or_ go into liquidation
whenever it should be necessary that the 4)2 per cents be surrendered. It was apparent, therefore, that an unqualified call
for the redemption of the Joan, fixing its maturity in September, would proj ect a disturbing element into the finances of the
country at a time when its resources are usually severely taxed
by the movement of agricultura.l products. In the desire to
avoid mon~tary disturbance during this Mitit'al period, and in
the hope that the volume of money in circulation might be increased at an opportune time, through thA co.operation of the
banks, the holders of the bonds w~re offered their choice of
presenting them for redemption with interest to September 2
1891 or for continuance at the pleasure of the Government
with interest at 2 per cent per annum after that date. Under
this proposal there were presented prior to September 2 for
continuance $23,414,000, of which $20,007,100 were deposited
with the Treasurer of the United States as security for circulation and $2,158,000 for deposits. But it was found that some
owners of 4.½ per cent bunds who desired their continuanco
were unable to take the necessary steps to tha.t end within the
prescribed time, and an extension of the time to September 80
was therefore granted. On that day the total amount of bonds
which had been presented for eontinuance was $25,412,200,
leaving for redemption $25,457,000, of which $17,940,100 were
preeented and paid during the month of September. Th~re
were also redeemed in that month, to correct an error made by
the owner, $47,700 continued bonds, and the amount now outstanding on interest at 2 per cent is $25,364,C>OO.
cmOULATION.
The amount of money in circulation has been very largely
increased since tht'I close of the fiscal year. The amount July
1 1891 was $1,497,440,707. and the a.mount per capita was
$23 41. The return of gold to t,h e United States, the operation
of the Silver Act of July 14 1890 and disbursements by the
Treasury on account of the four and one-balf per cent loan,
pensions, etc., have enlarged the volume to $1,577,262,070, a.nd
the per capita amount to $24 38. 'rhe amount of each kind of
money in the United States, including bullion in the Treasury,
a.nd the amounts in circulation December 1 1891, are shown in
the subjoined table.
December 1, 1891.
[Population, 64,680,000; oirculatton i,er capita, $24 38,]
General 3tock
Gold roln, lnclud'g buUlon
in Treaeury• ..•..•••.••..
Stand. ailv. <111llars, lnol'ng
bullion in Treasury .•••.
SubsldJary silver•.••• ••. •••
GoJd oerti flea.tee .•••••••••.
Stlver cert1tloa.tes ..•.......
Treas.notes, aoti Julyl4,'90
UD.1ted States notts ...... .
Currency certitioates, act
June 8 1872•.• _. .•.•...•
National ba.nk notes ._ . .. •
s *
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
*
..P'JNANCIAL,
17
OOINAGE.
The coinage of the mints during the last fiscal year was the
largest in the history of the mint in this country, aggregating
119,547,877 pieces, va.lued as follows:
G old ... ••• ..• . •••..•••...•••.••.. ·-· ·· - - ·· · ·· ·· · -····-····· $24.,172.202 50
Silver dollarR .. . .... ....... ··-··----··· --·· . ... ··-·. ... .••. 3tS,:.:3:2,8u2 00
Subsirliary silver·- -· · · ··· --··-·· ··-······ ·-· · ··· ··- ·····..
2,03Q.:H8 85
Minor coit1s . . • ...•. . ....• •. .. . .•• ··-···· . . • . ·-·· . •• . .•. . •..
1,166,936 60
Total. · -··· -····· ·· ······· -- ·············· - -----···-····· $63,611,15@86
The number of silver doll&rs coined du ring the fl.seal y~&r
from bullion purcha,sed und~r the act of 1878 was 8,740,327;
from bullion purch&sed und~r t he act of July 14 1890. 27,292,475 ; and from trade.-dolla.r bullion, 200,000, a. total of 31>,232,802 silver dollars. upon which the seigniorage, or profit, was
f6,221,3133 42. The profit on the subsidiary silvflr coinage of
t he year was $92,434 48, a total seigniorage of $6,313.7ts7 90.
The total coinage of silver dollars under the act of 1878,
from March 1 1878 to the close of suoh coinag~, has been
$378,166,793.
The net profit on the coinage of silver during the thirteen
years ended Ju ne 30 1891 including the b&lances in the coinage mints on July 11878, has aggregated $71,952,390 25.
Bara.
In addition to the coinage, gold bars were manufa.ct.ured of
t.he value of $31,165,541 77, and silver bars of t he value of
$8,437,657 65, a total of $39,603,199 42.
Purcha,u of Silver.
The amount of silver purchased from July 1 to August 13
1890, under the provisions of the ac t of February 28 1818,
ag-grega.ted 8,108,199 ·47 standard ounces, costing $3,049,426 46, an average of $1 ·09 per fine ounce.
'fhe total amount of silver bullion purchased u nder the act
of February 28 1878, from the commfmCElmAnt. March 1 1878,
to the end, August 13 1890, was 823,635,576 ·19 standard
ounces, costing $808,199,261 71, an average cost of $1 ·058 per
fin e ounce.
The amount of silver purcha..:;ed under the a ct of July 14
1890, from August 13 1890 to June 80 l fl91, aggregated 53,770, 125·61 standard ounces, costing $50,577,498 44, an average
cost of $1 ·045 per fine ounce.
The total amount of silver purchased during the fisea.l yea.r
under both acts-February 28 1878 and July 14 1890-was
56,878,325·08 standard ounces, costing $53,626,~24 90, a.n
average cost of ;fl ·04¾ per fine ounce.
The total amount of silver purch ased under the act of
July 14 1890, from August 13 1890 to November 1181H, was
66,588,536 fine ounces, costing $68,626,565, an average cos t of
$1 '03 per fine ounce.
Re-coinage of trade-dollar tfullion.
The act of March 3 1891 direc ted the Secretary of the
Treasury to coin the trade dollar bullion into silver ·dollars as
soon as practicable. Under the act authoriziug the r~demption
of trade dollars (March 8 1887), it wae left diiicr~tioa1.1.ry with
the Secreta,ry to coin t hiR bullion into either silvc,r d r)llars or
subsidiary silver coins. and the discretion had been exercised in
favor of subsidiary silver coiae.
The balance of trade-dollar bullion on hand June 30 1891
stort>d at the mints at Philadelphia ani New Orleans was
4,193,756·12 standard ounces, of the value of $4,822,658 90.
As soon a.s the mandatory coinage of Rilver dollars required
by the act of July 14 1890 ceased by !imitation of law, the oonversion o! the trade-dollar bullion into silTer dollars was com menced.
'rhe total number of silver dollars coined from tra.de-dollar
bullion to November 1 ha.s been 8,260,100. This coinage will
be completed during t he present calendar year.
*
*
*
*
*
*
*
INTBRNAL R B ~
The receipts from the several objects of taxation under the
internal revenue laws for the fiscal years ended June 3u 1890
and 1891 are as follows:
,-Fi.Beal year MUUil JtiM so.1890.
Obierts of tazaticm$
DlstlUed spirits •• . •••. 81,687,375 09
Mauufaoured tobacco .• 3 ::$,lJ58,991 06
Fermented liquors ..•.• 26,008,534 74
Oleo UJ ar11 arlne •• -......
786,29172
Miseell. collectiuns.--··
153,lW3 9a
1891.
$
I1te. or IMc.
$
88,335,963 64 +1,648,588 ~5
a2,79 '> /l70 9 7 -1.162,720 09
2 8,1'>65,129 92 +2,5:So,595 lS1,077,9~414
+ 191,632 42
260,127 ::io
+106,6 i3 34.
----------
Total. ... ·- -· ········142,594,696 57 146,035,415 97 +3,44.Q,719 ,o
The receipts trom all sources of internal reve uue for
t h e fiscal year ended Zune 301801 were. .. ..•• .. --· .. . $146,035,415 97
The r eoeipte from tne same @ouroas for the :ft.seal year
ended June 301890were..-... ·· · ···-···-··--········ ·· 142,594.696 57
Amount ine,r- Making an in c rease in the receipts for the fiscal year
comedori.6•
aued.
In Trea,ury.
culcuion.
JusL ended of .•••. ·- · · -· · ·· ··· -······ · ·-·· ·····-·······-· '3,44.0,719 40
$
$
677,774,595 271.843,193
$
40 3,ttal,40i
461,205,960 398,508,756
77,235,022
14,389,!:>85
]Jil,852,13~ 19,202,170
S"''l4,274,918
3,40l,308
72,959,652
1,976,366
84tl,6:31,0.l.6
la,316,707
62,697,2<4
6 :t,845,437
142,ti49,U69
320, b7d,6l u
70,»8:J 286
383,364,309
The total cost of collection for the 11l!cal year ended
June 301a91 W8ol ••••• •• • ••• • · • -·······-- · ····--····· ·•·
The total cost of collection for the ftsoal year ended
June so 18~0 wa.e.......... ·····---··-······ ········ ·-· .
iU,205,855 40
Increased cost of collection for fl.seal year ended June
30 1891 .. ·- ··· ... ........... .. . -· ,._ . . . ... ••.. . ••. ·-·. ·-·
$110,f>U69
4,095,110 80
The amounts herein stated are the amounts actually col10,135,000
870,000
9,765,000 lected during the fiscal years mentioned, bu t in many ca.sei the
1741,993,tS07
4,SU,754
168,151,853 mon~y coll~oted on the last day of Jnne is not deposited until
2,305,111,909 727,849.889 1,577,282 070 the :tlrst day of July, thus causing & diserepa.ncy between the
collectivns and the deposits.
*
*
*
*
-----
BANKING .AND FJNA.N<JIAL.
REPORT OF THE COMPTROLLER OF THE
CURRENCY.
DEPARTMENT OF THE TREASURY,
}
OFFICE OF THE COMPTROLLER OF THE CURRENCY,
WASHINGTON, D.
Dec. 7, 1891.
c.,
The following extracts are made from the report of
Hon. Edward S. Lacey, Comptroller of the Currency:
The year covered by this report ended Oct. 31, 1891.
At the opening of the report y@ar the stringency which
characterized the money market during the autumn of 1890
was at its height, its most disastrous effects having been felt
during the month of November. A period of liquidation then
set in which had hardly spent its force when the bountiful harvest of 1891 brought much-needed relief.
Notwithstanding the unfavorable conditions indicated, 193
new banks were organized during the year, located in 41 States
and Terri tories, and possessing an aggregate capital of $20,700,000. The accessions are numerically in access of the average and have been exceeded in only seven out of the twentynine y ears during which the system has been in operation.
During this twelvemonth 41 banks went into voluntaTy liquidation and 25 became insolvent, leaving as a net gain for the
report year 127 associations, with a capital of $12,553,000,
which is, as to number of banks, preci!!ely the net average
yearly increase durin'1,' the life of the system.
*
*
*
The number of banks in existence October 31 1891 was 3,694,
having in capital stock $684,755,865; bonds deposited to secure
circulation, $152,113,850; bank notes outstanding, $171,369,948,
including $35,430,721 representing lawful money deposited to
redeem circulation still outstanding. The amount of circulation secured by the pledge of United States bonds has increased
during the year $11.795,101. The following table gives the
number of banks organized during the year ended October 31
1891 in each State and Territory, with their aggregate capital.
-------- -- - - --- - - - -----
NUMBER OJl' BANKS ORGANIZED IN 1890-91.
State, a'nd Territorw. No. of Oapital.
banks.
Texas .. . . .. ... .... ....
Pennsylvania ....... ..
Washington...... . ...
llllr,ois... . . .... ... ... ..
17 11.510,000
17 1,0150,000
11
700,000
11
2,880,000
Iowa. ....... .... .......
11
Nebr a ska... .. . . . . .....
N ew York.. ..... ..... .
K an sas....... . .. . .....
Kentucky........ . ... .
Maryland . . ........ . ..
Mmnesota . . . . . . . . . . . .
775,000
10
10
910,00U
2,20ll,•·OO
6
41~,000
1,160,000
9
6
6
760,000
800,000
Statu
ana Temtoriu.
No. of Oapital.
bonka.
-----Tennessee.............
8
'450,000
West Vlrglnla........
Georgia . .. .. ...... . ...
Uoloru.do...... ..... . ..
Loulsl11na.... .... . ....
Malne. . . . . .. . .. . . .. . ..
Mlobtgan.. ... ........
'iew .ne:z:lco..........
Ut , h..... . . .. . . .. . ... .
Dletrlct of Columbia. ·
Alabama...... ..... . .
S
B
:a
2
2
2
II
2
I
1
~Y~;~~~n:::::.:::::::
g
~A8:~ ti~\~~~~~::::::::::::::
Mt~sourl... ...... . .... .
5 1,S.~,000 Indiana........... . ...
Oblo... . . . . . . . . . . • . . . . . .
So utll lJakota....... . .
Vtrgt -, ia. .... . . . . . .
Flo ,tda .. ...... ..... . .
~~~t~c~::;t\1!:::::: :
6
6
5
4
:I ;
650,000 · Indian Territory. . . ..
8(,(),000 Mlss,sslppi. ... . ..... ..
400,000 New H >i mpshlre... ...
200,000 l'ewJer~ey. .. .. ... .. .
Wyoming .. .. .. ... .. .. ·
~:g<Jg
si~:~t~~?.1~~-~::::::: g A5g;:;&8
Total ... . . .. . . . ....
½
ld8l5,tl()()
800,000
800,00IJ
100,000
12!1,000
100,000
100,000
100,000
200,000
00,000
~:~
l
1
1
100,00!1
1
oo.~oo
l
W,000
150,000
00,000
1._1_ --~•~
·j
193 20,700,000
......,--I t will be c,bserved t hat Texas and Pennsylvania. still stand
at the h ead of the list, as they have during the p ast two years,
with 17 new associations in each, Texas, however, having the
larger capital. F ollo wing these come the States of Washington, m in ois and Iowa, with 11 banks each, and Nebral\ka and
New York, with 10 each. Kansas shows 9 new associations
and ranks n.. , xt to New York. It will be observed that notwithstanding the fatality attending banking operations in
Kansas and Nebraska these States take prominent places in
poin t of new orgimizations.
·
Uf. the a11sociations entering the system during the year, 99,
or slig htly mo re t han one-half in number, are located west of
the Mis-h1sippi River and u9 in the Southern States.
* *
BANKS u R GA.l!IIZED, CLOSED, ETC.,_!!:_AR ENDED OCTOBER
Olosed.
YEAR.
Oroanized..
In voluntary
liq-ui ctation.
N o.
---- -1868 ........
Oapital.
$
No.
- ·-
Oapita1
-i
Net 11earzv vncrease
or decrease.
Imolvent.
No. Oapital.
..... ... ....
134 rn,s1e,100
lt-164 ... . .. . .
45:l 'i9 ,Sf1.,.,l:t60 " 'ij
1865 .. .... . • J,014 242,642,lll:!2
ss(l,i:ioo
6
18! t:l .... ....
tl:.l
8,5Hi, ll50
4
650,000
]0 4,ii,0,30\J 12 2,ltS\J,000
1867 . . . .. . . .
181:lS ... ... . .
12 1,2 10.ono l h 2,446,600
ij 1,t>00,000 17 3,872,710
18119 . . ... .. .
1870 .. . .. . ..
22 l/,73tl,000 14 2,550,000
l h7l. ... .. . . 170 rn,:111:1,. 00 . ll
1,450.000
187:.t . .... . . 175 18,~88.000 11 2,Ujfl,600
ltj7:3 .. .. .. ..
tit!
7,602,700 21
3,524,700
l t:174 . . ......
71
6,745,500 20 2,7\!5,00U
1875 .. .. ... . 107 llt,104,000 38 S,1"20,200
1876 .. . .....
86 8,18ij,800 a~ 2,565,000
1!:177 ..• •••.•
211 ~.5811,000 26 2,6a11,600
, 1878 .. . .. . . .
2!:l 2,775,000 41 4,l!K7,500
1879 . . .. .. . .
88
8,5115,' ·00 83 3,750,U0O
18t!0 . .... ...
57 6,37-1,L70
~
570,000
1~81. .... ...
86 9,1161,0 ,0 26 l,1":120,000
18bZ... . .. .. 227 80,08~,300 78 ]6,!20,000
l !-<83 ... ... .. 262 2~.054,., :m 40
7,7811,000
18b4 •.•... .. llH 16,042,230 30 8,'147,t50
l e'85 . . . .. . . . 146 111,9::Sl:!,000 !:!5 17,85f:l,5ij0
181-ill .... .... 174 .! l,858,000 25 1,651,100
1887 ... . . ...
2~5 80,546,000 25 2,537,450
1888 .... .... 1:12 12,053,000 34 4,171,000
l i-811 ....... . 211 2J,240,00iJ 41
4,316,000
18140 .. ....•. 3117 S6, ~60,000 50 o,o5r.,ooo
l81H ..... ... ms 20,700,000 4 1 4,485.U00
31 .
. "i
~
No,
$
........
Capital.
- -i- -
+184 + 16,:1'78,?00
-,.460 + ·rn.se6.95o
+242, 162,111:!2
+66 -t7 ,865, 160
-8
+980,800
-10 -1,645,500
-9 -1,1122,710
-tl4,000
+JR.061f,000
1,suti,i'oo l b8 +15,001,400
8,825,0t •0
+86
250,000
+48 +=m~:ggg
1,000,oou
+64 -t-7,288,!'100
1161'.> ,000
-5
- 840,200
3,SU,000
-7 -3,21H,600
2,6 12,500
-27 -4,075,000
l,~80,U00
-3 -1,885,000
700,000
+45 -to, 104. I70
+60 +7,731,050
1,;6·1·,1:ioo +146 + h ,357,000
260,000 + 2 t 0 +20, tSt18,850
1,285,000 +u,o +ll,l09,ij80
tl0U,000
+:i11 -1 ,518,6~0
650,0011 +141 +19,056,900
l,M0,000 +11u + 2t1,45"-,650
1,900,000
+90 -+ 5,S,h2,000
250,000 +16~ +rn,674,00o
750,0uu +248 + :l0,4 60,UO0
8,662,000 +b7 +12,MS,00u
·00,000 +1,007
600,000
tl 1,170,000
4
410,000
I
5v, U00
1
250,000
The most notable feature of the foregoing table is the large
number of associations which have become insolvent during
the year. They aggregate 25 banl!s, with a capital of $3,662,000. The ye&r 1873, however, appears to have been the most
disastrous in point of capitial, as during that period the failure
of 11 banks, with a capital of $3,825,000, is recorded. The
next in point of importance was 1877, when ten failures occurred, representing a capital of $3,344,000.
Of the 25 faiJed banks, having an aggregate capital of
$3,662,000, 13, representing $1,137,000 of capital, were located
in Kansas and Nebraska.
The larger part of the failures in these two States was attributabl e to four successive crop failures, and seems to be the
result of unavoidable misfortune~ rather than the lack of
honest and efficient management. In many cases, however,
the unfavorable conditions were greatly aggravated by the
col1apse gf unwise speculation in real estate, more especially
*
*
*
*
in city and suburban property. *
Tht, failures for the current ·y ear have been numerous, many
having been characterized by gross mismanagement and some
by criminality of an aggravated character; yet nothing has
been developed which indicates that the confidence in national
banks on the part of the general public, which is the outgrowth
of an experience of twenty-nine years, has been ill founded.
It is idle to suppose that absolute immunity from failure can
be secured by the operation of any law which fails to provide
for absolute and complete governmental guaranty. That failures will be far more numerous during some years than others
is to be expected. This is true of every variety of business
act1vity. The banks of the country are mere agencies through
which the comm8rcial and business operations of the people
are conducted, and of necessity the losses which attend these
operations are reflected in the profit and loss accounts of these
agencies. Tht:, net earnings of the banks afford a good criterion
for judging as to the measure of success which has attended
the business operations of their customers.
It is a well-known fact that Periods of business activitf and
depression follow each other ,at reasonably well-defined mtervals, and that no means have been found for preventing the
regular recurrence of what were under other conditions known
as years of panic. There is no doubt that the introduction of
the national banking system and a well secured currency of
uniform and certain value has served to greatly modify t,he
severity of these periodical visitations and convert what were
formerly panics into more or less severe depres1:dons. The latter condition we have just experienced, and it is not remarkable that during the past twelve months while the country was
suffering from a mometary stringency which has ~eriously
affected the t>ntire commercial world· we should have witneBSed
the failure of 25 banks out of a total of 3,694.
That the law under which these associations operate is absolutely perfect no one well informed will clai.n; but that it
has afforded greater security to its depositors and creditors
than any other svstem is indisputable .
Since the foundation of the system 4,648 associations have
been organized, of which 164 have become insolvent, equal to
about 3½ per cent for a period of twenty-nine years. Of this
number the affairs of 102 have been finally settled, represent.
ing $28,544,992 of proved claims, upon which the claimants
have received on an average 74·17 per cent, constituting a net
loss to depositors of $7,372,036. The affairs of 62 banks are
still unsettled, reprfsenting claims proved to the amount of
$29,247,036, on which have been paid $17,456,167, leaving as.
sets estimated at $3,702,925 yet to be distributed, which would
represent a loss to creditors of $8,087,944.
It will be observed that losses to creditors of national banks
during the twenty-nine years of the existenee of the Rystem,
taking the amounts ascertained and the a.mounts estimated,
aggregate $15,459,980, or an average of $533,103 per annum
during the life of the syMtem.
The average a,mount of liabilities of all the banks since 1863
approximates $1,055,434,022, indicating that the annual average lm,s to the creditors of national banks for the period of
twenty-nine years has been only one-twentieth of 1 per
cent,
*
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*
MONETARY STRINGENCY OF 1890.
*
*
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*
*
As has been noted, the monetary stringency culminated on
the 15th of November 1890, and its effects within thirty days
.. .ti
thereafter had to a considerable extent passed away, so far &B
11
could be observed in the larger cities. Its eff~ct upon the
8
6
country at large, however, still continued. Inability to place
9
securities and to borrow money had arrested th~ operations of
10
14
a great multitude of corporations scattered all over the counI:!
try, and insolvency and failure had in a large number of casi:,s
3
...a
eusued. Where failur~ did not take place new work was
stopped. all credits were curtailed, and business in its different
2
11
forms became greatly depressed. Tht, growth of cit1es and
4
villages was in m tLny cases arrested, and the prices of city
8
8
property, especially of a suburban character, became greatly
8
2
reduced.
·
g
· Corporations newly organized, with insufficient capital ~nd
25
- --- - ---- 164 ---inexperienced management, generally. became insolvent, and.
Total .. .. 4,648 683,468, 182 791 108,431,000 -·30,620,900 fS,762 H58,ll:itl,7t:2
speculative operations of every kind and character were prosDeduct decrease . . .
14,245,500 trated. Liquidation took place in all branches of business, re69
· ····
·· ······ .... ····· ··· .... ........
- ------ - - - sulting
in the failure and extinction of a large number of busiTotal net
Increase .....
... ... .. .... ·· ······ .... ........ • S,691! tl541,411,282 ness enterprises which were never entitled to credit, and in the
O ue bauk Itl1St.vr1:d 1iU ti0l venuy, makmg 3,694 going banks.
curtailment of the operations of many possessing ample capitThe t o~al a u tho ri zed oapital sto1:k on OotGber 31 was $t:84,755,865:
the_pa,id-m capital. $ 6 8 3 ,t48,175, tnoluding til e <'apit 1l t ock o rl qui tal and ~k il ful manage me:it.
'lhe process of liquidation above referred to did nol; end
dating a nd in ,:1 olveuG bc1.nks which have n.oi depooited lawful money
!or the retirement ot their oirculattng notea.
with the monetary stringency hi December 1860, but ha1 oon-
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1
+~
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BANKING AND FIN.ANOIAL.
19
tined einoe tha.t da.te, and its influences are still felt and its
When a bank a:pplied for and received loan certificates it was
effects observed. The subject is here discussed be~ause of its required to deposit thtl necessary securities and to also execute
intimate connection with the bank failures of 1891.
and deliver an obligation, of which the f ollowiog is a copy :
CLEARING HOUSE LOAN CERTIFICATES.
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During the period of the stringency under discussion the
cities of New York. Philadelphia and Boston were subjected to
the most pressing demands, and after very careful consideration it was decided by the associated banks that the exigency
made necesi:iarv a resort to the issuing of Clearing-House loan
certificati>s for the purpose of settling Clearing-Howie balances. This expedient had been successtully resorted to during thH panics of 1873 and 1884.
At a meeting of the New York Clearing-HouRe Association
on the 11th day of November, 1890, the following resolution
was unanimously adopted:
Rt•ol'Oed, That a, committee of five be appointed by the chair, of
which the chairman shall he one, to receive from banks, members of the
as11oeiat1on, bUls receivable and other seonrities, to be approved by said
oommlttee, who &hnH be authorized to ii;sne therefor, to 1-uch depositing
bank11 loan certificates bearing mterest at 6 per cent per annum, and
ln a ddition thereto a commission of one quarter of 1 per o"'nt t1,r every
thirty days suc,h certificates shall remain unpaid, and such loan certific,ate• sball not be in excess of 75 per cent of the market value of the
11eeurittes of b11Js n~ceivable so depos1tfld, and such cerc,ificatfls shall be
reootved and pa.id in settlement of balances at the Cltiaring-House.
The - - - - Bank has this day received of - - , loan committee
of the Boston Clearin~-House Association, loan certificates issued oy
1>aid committee tn pursuance of a vote of Raid as11oe1atlon, passed November 17 1890, to the amount of - - thousand dollars, anrt has depoRited with said committee the securities a statement whereof is
hereto annexed, and said - - - - Bank receives said loan certificates on ttlfl terms set forth in said vote, and airree~ to pay the amount
of said certificate~, with iDterest thereon, as provided in said vote.
Under the operation of the resolution of authority granted
by the Clearing-Hout'e committee as above noted, loan ct1rtificates were first issued on November 19 1890, and the last were
issued on December 6 18~0. On the latter date the issue
reached its maximum of $5,065,000. The last of the issue was
·
retired on January 6 1891.
The Clearing-House Association of Philadelphii took action
on November 18 1890, at which time, at a meeting of the
Clearing-House Association, the following resolution was
adopted:
.
Re,olved, That in accordance with resolution of September 24 1873,
as amended October 18, 1873, the Clearing-House committeA will l suA
loan certificates to bimks applying and receive them in payment of
balances.
The resolution of September 24 1878, as amended October
18 1873, reads as follows :
Under this resolution a committee of five was appoint,ed, and
For the purpose of enaoling the banks, members of the Philadelphia
they proceeded, upon deposit of proper securities, to issue to Clearing-House \S1>0•·ia.tion, to afford proper aElsistanoe to the mercantile
andmanu ~aoturlng community, and also to facilitate the 1nter-bank
applying banks loan certificates in the following form :
settlements resulting from their ilaHy exchanges, we, the undPrstgned,
No. - - •
$20,000
Loan Committee vf the New York Clearing-House Association, New
York, - - , 1890.
Thie certifies that the - - - - has deposited with this committee
eeenrities in aN,nrda.noe with the proceedings of a meeting or the assoc,latton held November 111890, upon which this certificate is issued.
This certificate will be received in payment of balances at the clearing
bou11e for the @Ulll of twenty thousand dollars from any member of the
CleariD,i-House Association.
On the surrender of this certlflcate by the depositing bank above
named the committee wlliindorse the amount as a pavment on theobUption or said bank held by tbem, a.nd surrender a proportionate share
of the collateral securities held therefor.
,
,20,000.
____
- - Oom:nittee.
These certificates were, by unanimous agreement u·pon the
part of the Clearing-House banks, accepted in lieu of money in
the settlement of Clearing-House balances.
In order to provide for the retirement of these securities in
oase the collaterals pledged were found insufficient, the several
boards of directors of the associated ba,nks were req nested to,
and did, pass a resolution in the following form :
Ruolved, That any loss resulting from the issue of loan oertifloates
&hall be borne by the banks oomp1ising the Cle1<ring-House A.ssooiatton
pro rata. of capital and surplus, 1md this resolution shall be ratified by
the boards of the re@peotive banks, members of the associa.tion, and a
certified copy of suoh consent delivered to the chairman of the loan
aommittee.
This committee, acting under the authority granted by the
above resolution, issued to the associated banks loan certificates
aggregating $16,645,000. The first issue was made November
1~ 1890, and the entire issuA was retired on Ft>bruary 7 1891.
The largest amount outstanding at any one time was $15,205,000, on the 13th of December 1890.
On the 17th of N ovt mber 1890 similar proceedings were had
by the Boston Clearing-Honse Association. On that day, at a
meeting of the association, the following resolution was unanimously adopted :
do oind ourselves by the following agreement ou the part of our respeott ve banks. viz.:
First. That the Clearing-Honse committee be, and they are hereby,
authorized to i@sue to any bank, member of the asRooiation, loan oer t ifloates bearing 6 per cent interest, on the deposit of bllls receiva ble and
other securlilos to such an a.mount and to such percentage thereof as
may in their.1udgment be adviRable .
'l 'hese ~ntlticates may be used in settlement of balances at tbe
Clea.ring-House, and they shall be received by creditor banks in the
same proportion as thev bear to tile aggregate a.mount or the debtor
balances paid at the Clearing House. The interest that may accrue
upon these certificates shall be apportioned monthly among the banks
which shall have held them during that time.
Second. The securities deposited with the said committee shall be
heltt by thflm in trust as a special deposit, pledg~d for the redemptlon
of the oertifioates isRued thereupon, the same l>eing accepted by the
committee as oollatf>ral security, with th!\ expr<'ElR condition that
neither the Cl.-aring-House Association, the ClearlDJr•House commit tee,
1, or any member th.,reof, shall be respom-ible for any loss on said collater<1,ls arilliup: from failure to wake demand and protest, or from any
other neglecr. or omission other than the refusal to take 11ome reasonable step which the said depositing bank ruay have previously required in writing,
Third. On the surrender of such certificates, or any of them, by the
depositiDg bank, the committee will indorse the amount as a payment,
on the O"'ligatton of f'aid bank held by them, and will •urrender a proPQrtionu,te amount of seounties, except in case of default of thfl bank
in any of its transaction" through the Clf'aring House; in which case
the securities will be applied oy the committee, ttrst to the payment of
outstanding certificates, wit-h interest; next, to the liquidation of a11y
indebtednciis or suoh bank to the other banks members of the Clearin~
House Association.
·
Fourth. The committee shall be authorized to exchange any portlon
of said securitie~ ror others, to be approved by them, and snail have
power to demand additional 1>eourity, at their own discretion.
Fifth, That the Clearing-House committee be authorized to carry into
full effect this aj?l'eement. with power to establish such rules and regulations for the I ra.ctlcal working thereof as they may deem necessary;
aRd any loss ca.used by the non-payment of loan certiflca.tes shall be
assessed by the committee upon all tbe banks in the ratio of capital.
Sixth. The expenses Incurred 111 carrying out this a~reement shall
be assessed upon the ba.nks in equal proportion to their re1,pective
capital.
·
Seventh. That the Clearing-House committee be, and they a1e hereby.
authorized to terminate this agret'ment upon giving thirty da,ys' notice
thereor at any stated meeting of the Clearing-House Association.
PHILADBLPHU, November 1131890.
At a meetiDg of the Clearing-House committee, held this day, it was,
on motion:
&solved, That in accordance with 1esolutions of Sept embn 24 1873,
as amended Oct. 18 1873, the Clearing-House committee will issue Joan
certificates to banks applying, and receive them in payment of balance .
Ruol,•ed,, That a committee of five be appoiated by the chair, of
which committee the chairman shall also be a member, to receive from
banks, members of the assodation, bill!! receivable and other stcurities. to be ap1°roved. by said committee, who sball be authorized to
ieeue therefor to suoh depositing banks. lnan certlf!cat es bea.dng interest at 7·3 per cent per annum, and such loan certificate shall not be in
e.x.cess ot75 per oent of the mark ... t value of the secmities or bills reThe form of loan certificate issued by the Clearing-House
ceivable so deposited, and such certificatf'R shall be 1ecei ved and 11aid Association of Philadelphia is here givf'n :
in settlement of balances at the Clearillg-House.
--.
$5,000
It is observed also that the ultimate payment of the certi- No.
Clearing-House committee of the Philadelphia banks, Philadelphhi,
ficates in case the pledged collaterals proved to be insufficient --,1891.
was provided for through the ratification by the boards of diThis certifies t,ha.t the - - - - Bank has deposit..ed with this
committee seour1ties in aocordanoe with tlie agreement of a, meetrectors of the respective bankR of the following resolution
ing
ot bank officers hPld September 24 1873. This certltioate will
passed by the Boston Clearing-House Aswciation at the meetbe received during the continuance of said agreement and of any
mg above noted :
renewals
of the same in payment of balances at the Clearing-House,
0
Jluoloed, That any loss arising from the issue of loan certificates ~ for the sum ot five thousand dollars, only from a member of the
@hall be borne by th~ banks comprislug ~he Clearing-House Associa- ~ Clearing-Bouse Association to whom the same may have been istion •p ro rata, a.oc·ordmg to the avPrage da.iJy amount which each bank - sued. or to whom it may be endorsed by the manager of tlie Cleaa.-ehall have seni to the ()learin~-House during the preceding year. It 0 in~-House.
On the surrender of this certitl.cate by the depositing bank above
was also voted tbat this 1esolution shall be ratitle.t by thb boards of ~
directors of the respective banks, members of the association. and a S named, the committee will endorse the amount as a payment on
certitl.ed copy of suoh consent dehvered to the chairman of the loan ..., toe obligation of said bank held by them, and surrender a proportionate amount of the collateral aeourities, except in case of default
committee.
on the pa.rt of said Bank in its transactions through the ClearingThe form of the loan certificates issued under the resolution
House Aiisociation of Philadelphia.
'
i
aboTe alluded to was as follows :
No. - - .,
$5,000
Committee of the Boston Clearing-House Association. Boston,
$ Loan
- - , 189.
::I
This certifies that the - - - - has depo@ited with this com-
a
mittee securities in acoorrlance with the proceed1ngs of a meeting
"d of the a.ssociation held November 17 1890, upon which this certitl.cate is issued.
i Tnis certificate will be received in payment of b'tlanoes at the
"° CJearin~-House for the sum or tl.ve thousand dollars from any mem
::I
C ber of the Clea.ring-House As•oria.tion.
On 1,urrender of this c~rtitl.ca.te by the deposit:ng bank above
t: named,
the committee will indorse the amoum as a payment on the
Cl
oLllgation of said bank held by them, and surrender a proportionate
aka.re of the collateral seoudties held tberetor.
f
I
,f
'6,000.
I
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Federal Reserve Bank of St. Louis
----.
----,
Qommiitee,
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The Clea.ring-House
*
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*
committee having,
*
the
Ovmmiltee.
*
by
agreement
aforesaid, been authorized to issue loan certifif'!ates, resolved,
on November 5 1890, to exercise this power, whereupon the
banks desiring to take out loan certificates were required to
adopt a resolution empowering the hypothecation of securit.ies, under:which the issue of loan certificates, signed by not
less than three members of the committee, was commenced on
November 19 1890, and ceased on May 22 1891, the total issue
being $9,655,000. The maximum issue, $8,870,000, was reached on
January g_ The certificates have all been retired excepting $170,000 issut1d to the Keystone and Spring Garden r.ational banks.
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.B.ANKLl\'0 A.NJJ FJNA.lvOIAL.
20
REPORT OF THE DIREOTOR OF. THE MINT.
Mr. Edward 0. Leech. the Director of the Mint, bas sub.
mitted to the Secretary of the Treasury a report of the operations of the mints and assay offices for the fiscal year ending
June 80 1891 and through his courtesy in f rnishing us with
advance sheets we are able to give the repor as below.
_
DEPOSITS AND PURCHASES OF GOLD .A.ND SILVER.
EARNINGS AND EXPENDITURES.
The value of the gold deposited at th mints a d assay
offices during the fiscal year 1891 was $Z-9,625,678 08, against
$49,228,823 56 in the preceding year, an increase of $10,396,854: 52.
The dep08its and purehases of silver aggregated 71,869,668·92 standard ounces, of the coining value of $83,630,154 31,
against $43,565,135 15 in the preceding year, an inc ease of
$40,065,019 16.
COIN.A.GE.
The coirui.ge executed at the mints was t he largest in the
bMory of the Mint in this country, aggregating 119 547,877
pieces, valued as follows:
Pie008,
Gold... _............................. 1,414.,lM,
Bllver dollars... ... .. .......... ..... SA,232,802
Subsidiary silver... ................. 18,560,:{71
Minor coins ............. ........... . 63 34.0,560
Total. ............ . ...•.......••. 119,547,877
V ahu.
$24,1 '72,202
36,232,802
2,039,21~
1,1£6.936
50
00
35
50
- -- ---
$63,611,159 35
The seigniorage on the coinage of silver dollars was $6,221,883 42, and on subsidiary silver coinage $92,434 48, a total of
$6,3:3. 76'i 90.
The total coinage of silver dollars under the act of 1878,
from Mar0h 1 1878 to the close of such coinage, ha.'i been
$878,166,793. The coinage of silver dollars under the act of
July 14 1890 to November 11891 bas been $31.308,51'15, a total coinage of silver dollars since 1878 of $409,475,1368.
The net seigniorage on the coinage of silver during t he thirteen years ended June 30 1891 bas aggrega d $71,952.,390 25.
BARS MANUFACTURED. ,
In addition to the coinage, gold bars were manuf ctured
during the last fiscal year of the value of $31,165.541 77 and
silver bars of the value of $8.437,657 65, a total of $39,60 ,199 42.
MED.A.LB MA.NUFAC'l'URED.
Medals were manufactured at the Mint a t Philadel_ hia as
follows:
Gold ..•.... . ... . . , .•..•... . . . .. ............................ 191
Silver ..•........... .. .... ........... . ......... ....... ...... 1,5 02
Bronze ......................•....•....................... .1,6 00
Total. ............... ... ...... ..... .... ... .... . . . ...... 3; 93
PURCHASES OF SILVER.
'fbe amount of silver purchased under the act of 1878 from
July 1 1890 to August 18 1890 aggregated 3.,108,199 47 standard ounces, costing $3,049,426 46, an average cost of $ t 09 per
fine ounce.
The total amount of silver · bullion purchased under t.be Act
of February 28 1878 from the commencement, Marc 11878
to tbe end, August 18 1890 was 328,635,576 19 standard
ounces, costing $808,1&9,260 71, an average cost of $1 058 per
l'lne ounce.
The amount of silver bullion purchased · nder the Act of
1uly 14 1890 from August 13 1890 to June 30 1891 aizgre:.ated 58,7i0,125 61 standard ounces, costing .,.50,577,498 44, an
;.:. verage CO:'lt of $1 045 per fine ounce.
The total amount of silver purchased during the last fiscal
year under b0th acts was 56,878,325·08 standard ouncf"S, costing $53,626,924 90, an average cost of $1 04¾ per fine ounce.
The total amount of silver purchased und r the Mt of July
M 1800 from August 13 to November 1 189 t has been 66,bit18,~86 fine ounces, costing $68,626,'565, an average cost of
$1 08 per fine ounce.
RE-COINAGE OF TRADE DOLLA.RS.
The re-coinagP into silver dollars of the tra e dollar bullion
stored at the mints at Philadelphia and N ew Orl<>ans was
commenced in June of the present year and the total u mber
of silver dollars coined from trade dollar bullion to No ember
1 1891 has bAen $3,260,100. It is expected 1ii at this oinage
will be completed by the time that Congress meets.
COURSE OF SILVER.
The price of silver during the last fiscal year fluctuated from
$0·964 to $1 21 p~r fine ounce, a fluctuation greater than in any
previous year of which we have knowledge.
.
At the commencement of the fiscal year t e price of silver
in New York was $1 05 an ounce. The price had advanced
.August 19 1890 to $1 2i per fine ounce, which w ,1s the ;highest point reached. The closing price Jun e 30 1891 was
$1 01¼ per fine ·ounce. The price on November 1 18 1 was
$0 96.
The average price of silver during the year, based upon
London quotations, was $1 04:¼. ft fine ounce, and upon New
York quotations, $1 05 3-10 a fine ounce.
The exports of silver from London to India during the first
nine months of the present year show a falling off of over
one-half, as compared with the same months of the previous
year.
IMPORTS AND EXPORTS.
The net los:J of gold by export during the fiscal yeu- was
$67,946.768, while there was a gain of silver by excess of importd over exports amounting to $2,745,365.
The loss of gold by export was materially larger durin g the
last year than in any recent year. The heavy movemem; commenced in February of the present year a nd did not c.~ase
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Federal Reserve Bank of St. Louis
until the close of July. The total amount exported during
that period from the port of New York was $70,223,494 81.
The Director treats in detail of the movement and points out
some of the causes operating to produce it.
It is gratifying to report that a return movement of gold is
well under way, which has aggregated since July 1 upto Nov.
1 1891 $21,580,448, and which it is believed will continue
for some months.
The total earnings of the mints and assay offices from all
sources was $7,650,529 62, and the toial expenditures and
losses of all kinds, $1,661.139 83, a net profit of earnings over
expenditures of $5,989,889 79.
PRODUCT OF GOLD A"8D SIL VER.
The mines of the United States yielded during the last year
precious metals as follows:
Fine ounces.
Gold ........... . .......... l,58-s,8SO
Silver ...•..•.............. 54,500,000
Oom. value.
$32,845,000
57,225,000
Ooinin,gvatue.
~3'.l,~4"J,000
70,464,645
The product of the mmes and reduction works, including
the gold and siher comained in foreign material reduced in
the United States, for the same year was:
Fine o ,,nee3,
Gold................................................. 1,838,3613
Silver................................................ 64,920,927
The product of gold and silver in the world, baaed upon returns to the Director of the Mint, has been for a series of
years as follows :
Product of gold and silver in the world for the calendar
years 1873-1890 :
.-------Silver.-----~
Fine ounces
Oommereiai
Oalendaryears.
Gold.
(Troy),
vaiue.
1873 ............. il'96;.WO,OOO $63,267,000 $82,120,000
1874 ........... .. 90,750,000 55,300,000 70,673,000
1875............. 97,500,(•00 62,262.000 77,578,000
1876 ........ .. . .. 103,700,000 67,753,000 78,~.122,000
1877 ............. 114,000,000 6:l,64~,000 75,240,000
1 878 .......... ... 119,000,000 73.476.000 8-l,644,<•00
1879 ... .... . .. ... 109,000,000 74,250,000 83,383,000
1880 .... . ........ 106,500,000 74,791,000 85,636,000
1881. ..........•. l 03,000,000 78,890,000 89,777,000
1882. · · ··· ....... 10:.!,000,000 86,470,000 98,230,000
1 883.. ... .. . .. . . . 95,400,000
89,177,000 98,986,000
1884 ............. 101,700,000 81,597,000 90, ~17,000
1885. : ........... 108,400,000 9 1,652,000
97,564,000
1sg6 ............. 106,000.000 93,276,ooo 92,112,000
1887 ........ ..... 105,775,000 96,141,000 9-!,04!:-1,000
1888 .... . ........ 110,24-1,000 lOS,888 ,000 1 Oi, 185,000
1889 ..... .. ...... 122.438,500 123.500,000 115,487,000
1890 ............ . 116,009,000 128,914,000 134,i,86,000
WORLD'S COIN.!.GE.
Ooining
value.
$81,·00,000
71,500,000
80.500.000
87,600.000
81,000.000
Oo,000,000
913,000,000
9n,70o.ooo
102,001_1,ooo
111,800,000
115,300,000
l O:'i,500.000
118,500,000
12iJ,oOO,OOO
124,304,0DO
140,7.-.4,5)00
159,678,000
166,677,~00
The coinage of gold and silver by the various countries of
the world (including re-coinages), so far as reported for the
last year, aggregate:
Gold .............................................. $149,118,969
Silver............................................. 131,980,621
STOCK OF MOSEY IN THE UNITED STA.TES.
Tbe Director estimates the stock of metallic money in the
United States on November 11891 to have been:
Gold ........................ ,. .. ... ...... . .. .... $671,139,531
Silver................ .. .... ................ . .... 539,i41,624
Total .... . .......... .... ....... ....... ... .... $1,210.381, 155
GOLD .AND SILVER USED IN THE ARTS.
The value of the precious metals u sed in the industrial arts
in the United States during the last year was, approximately
-gold. $18,000,000, silver, $9,000,000; of which $10,700,000
gold and $7,140,000 silver was new lm1Jion.
LEGISLATION RECOMMENDED.
The Director reviews the work of the mints in the re-coin
age of the uncurrent silver coins in the Treasury, under an
appropriation of $150,000 for such re-coinage µiade by the last
Congress.
The beneficial results of this re-coinage are shown by the reduction in the amount of subsidiary silver coins in the Treasury, the amount.at the commencement of the last fiscal year,
all of which were classed in the Treasury statements as an
•· unavailable asset," being $22.805,225 while the amount in
the Treasury at the present time is $15,196,379, a reduction of
$7,608,846.
The Director recommends that a permanent annual appropriation for re-coinage be ma.ce, or else an immediate appropriation of· $100,000 for continuing such re-coinage.
In pursuance of the authority contained in the recent a~t
of Congress. the Director has had prepared, under his personal
supervision, new designs for the half-dollar, quarter-dollar
and dime which are believed to be a decided impro,ement
upon those ne,w in existence. It is ~xpected that the dif's
will be engraved and coinage commenced with the new
designs by the 1st of January. With a liberal appropriation
for re-coinage, it is believed that a large amount of tbe uncurrent silver coins now in the Treasurv can be converted into
new coins bearing the new designs, which will be readi1y
absorbed in circulation.
NEW l\!INT AT PHILA.DELPHI!..
. .
,
The Director reviews the recoc.imendations · of the Department and the action of .Congress in authorizing the purchase
of a site an,l the erection of a new building for the Miut
at Philadelphia, and recommends an immediate appropriation
of $800,000 for the purchase of a new ~ite, including the preparation of the plans for a new building.
The report is replete with valuable statistics, furnished by
foreign ~overnments through our diplomatic representatives,
covering the production, coinage and. ~ _o;v:~ment of th.
precious metals in foreign countries.
B.ANKING .AND FINANOIAL.
THE BUSINESS OF 1891 IN ENGLAND.
NEW YORK CITY BANK MOVEMENTS.
The weekly returns of the New York Clearing House banks
were not watched so closely during 1891 as in the previo1.1i.
year, and the banks were n ever below the le~al requir~ment
of reserves. In the Fall of 1889 the bank surplus for the first
time in five years (since May 81, 1884) fell below the legal
limit, but in 1890 the banks showed a deficit as early as the 16th
of August, and from that time forward at differ..ent times for
eleven weeks out of the t wenty remaining weeks of the year.
A notable feature in 1891 was the large accumulation of
money in the banks late in the year. Deposits reachedamaximum in the last weekly statement, made on December 26,
when they were $4M,806,800. This was t he largest amount
recorded up to tbat date, and prior to 1891 bad only been ap·
proached on July 6. 1889, when the amount was $445. 797 ,500_
The following Clearing-House statement from Mr. Camp
shows the average loans, deposits, specie, legal tenders, and
surplus reserve over and above the legal requirement of 25
per cent of the deposits, in each week of the year 1891. In
each column the last three figures are omitted :
.NEW Y O HK CLE \ RI NG HO US E B ASK S
Week
end'd
Loans. Deposits
Specie.
8TATEi\1 ENT-t000s OllITTKD.)
Rate o
Le~al Surpl118 Re~erve
Interto
tenders. r ese1ve. deposits.
est.
---- - - -$ - - --$ - - -$ - - -$ - - -P er Cent. Per Ct .
$
Jan.
3 ~6,632 78,668
81,133
390,325
:.
H
33,444
399,1 ? 7 · 85,765
17 . .
~4 . . 3 8 0,557 405,471 · ~0 ,162
90,~?t,8
31 . . 3 ~9,688 411,044
3 . . 3 85,678
10 .. 3~3,9M
Feb.
397,'- 02
4 0 1,964
4 03 ,.>22
4.03,881
26.5 71
!t9,83 t
32,!-1 63
3 5, 295
36,435
8, :>76
13,38 4
19,183
24 ,0i- 9
23 ,94:-J
27·21
28·-!2
~9 ·8 1
3 u·94
30·82
6
6
6
fl
4lli
5
5
4 16,343
4.18,f-117
4lo,5n 2
414,426
~8 ,810
8 8,385
8J,9o9
81,301
3 5,518
3 U i36
35,604
3 5 ,\fo5
20,242
18,49 2
15, ·,73
1 3,630
29·86
2w41
28·69
28 ·28
404,82a 41 2,47 3
404,1 53 410,73 0
7 8,567
77,65 5
77,731
7 7,73 6
35,4 31
84 ,8 ·.W
8 -!,87 i,
3 ,L,57 1
10,880
9 ,7 9:-$
~,055
8,'142
27 ·62
2 7·38
2 7·1 9
27·03
77,140
76,681
74,099
73,165
33,162
32,962
3 3 ,949
36,357
6,389
5.612
4,31~
6 ,9 75
26·53
26·34
26·5 2
2 6· 70
407,166
40 !'! ,618
3 98 ,507
3 !H ,205
3 87,107
71 ,846
68,159
64,384
61,88 ~
60 ,l159
37 ,38 8
3 7 ,509
40, l55
4 1,1 2 9
4.3, il -lt:I
7,443
4,763
4,912
5 ,217
7 ,529
26·82
26·1 8
2 6 ·23
26·33
26·94
5-'11
5 ½a
383,8 82
3!-13,491
39 4,824
402,U36
59,751
b0,50-l
65,382
6 7,846
42,906 1 6,687
4 5.8 :') 3
10,484
16,172
49;495
51,070
18,411
26·74
27·73
29 ·09
29·58
5
5
514
5
66,235
6 :'> ,383
67,5H9
68,339
50,394
4 9 ,9 U7
53,092
5 3 ,0 60
rn,465
14,54 2
18,489
19,710
28·8 2
28·60
29·52
29·8 1
5
:i95,455 4 02,91 :.:
3U7,34 7 403,403
6 A,611
6:'>,8 ... 2
6 5,375
6 3,'.38 f>
60,496
54,145
53,0\:h)
53,682
f> l ,452
5:-J,12 1
19,481
18,420
17,6L7
14,W9
l ~,7 o7
29·80
29·55
29·34
28·5 0
28·16
4 00,580
401 ,516
404.f> t.<9
4.07,817
402,818
403 ,965
406,559
404,641
l'l8 ,769
61,714
ti2, 48a
62,403
51 ,099
47,9 99
4 6 ,91:i
42,7 65
9,156
!::l, 722
i,75 6
4,008
'2 7·27
27·1 5
26·!10
25·99
3 .. 4 0 5,' 33
10 .. 402,842
17 .. 405,2b 4
24 .. 4v5 ,6o2
al. . 407,974
402,592
404,75 1
413,139
416, 400
418,169
6-1 ,158
70,07t:I
75,900
82,210
83,544
39,592
37,750
36,414
34,281
a3, 335
3 ,102
6,63\)
IJ,029
li,39"?.
12,338
25·77
26·64
27·1U
2i•95
27·95
7 .. 411,190 416,8:.?6
14 .. 408, f.> 49 4 1 6 ,9 1 9
21. . 408,60,i 4 22,321
28 .. 412,4 53 4 27,313
81,953
84,036
8 7,9 70
8 8,589
29,238
2 9 ,64 "'
30,9 'i 2
3 3,120
6,Q8"1
!l.452
13,322
H,8 ~2
26·19
2 7 ·27
28 ·16
28·48
5111
5
5¼
89,828
89,965
84,440
96,392
32,531
34,5!4
8o,ai'>5
36,914
13,863
15,339
19,161
rn,480
28·22
28·51
29·07
29·28
5
5
5
5
7..
14 ..
21. .
2d._
Mar.
7 ..
14 ..
~l. . 408 ,ll ~ 414,216
28.
410.4113 415,4 6 4
Ap11l
4 •• 412,893
4 15,651
11.. 4Ul,97l 410,126
18 .. 412, , 8 1 414 ,915
25 .. 407,01 8 410,152
5
4:\:l
5
· 4 34
414
4½:i
434
4¾
5
412
l\!ay
2 ..
9.•
16 . .
23 . .
21l ..
June
6..
404,46 5
403,021
398,57 9
:i\12 ,921 '
889,084
386,236
rn .. 38a,03 ·l
20 .. 386,18 9
27 .. a8o,~ao
July
:·L. 393,8 60 4 '1 4,658
11 .. 392,003 402,79 5
18. 392,4,9 408 ,810
25 . 3 lJ0,592 406,754
Aug.
1.. 389 ,650 405 ,101
8 •• 3 \.11.12\.1 404,2 :i.l
lo .. 39.J,ll!:10 4 Ul\76U
22 . .
29
l.ie_vt.
5 ..
12 . .
19 ...
26 ..
Oot . .
Nov.
Dt'0.
5 ••
12 ..
19 . .
26
4.17,918
417,995
422,~40
42\.1,255
433,986
436,685
446,5ii8
455,306
434
5
5¼
5
5
5
5
5
5
fi
5
:,
5 1.:,
5¼
5 14
5¼
!"I lg
5¼
5
5
filg
The table below shows that the bank clearings in New York
during 1891 were about 9·9 per eent less than in 1890 and
in all cities (including New York) 6 ·9 per cent below the pre·
vious year.
TOTAL CLEARINGS IN NEW YORK .AND OTHER CITIES
Year.
New York
Clearings.
Total Outside
New York.
1891. •. . .. . ... •... •. .. •. •.. •.
f38 ,749,822,212
87,458,tlOi,609
85,895,104,905
81, l O'J,0'~7,521
$22,887,514,0~
28,370,48~.893
.?0,280,223,092
18,441,t!Oi ,8'16
17,672,IJ72,826
15,616,8Ul,fl06
18.321,839,708
18,214,118,613
· 14,297,171,924
18,962,2M,Cn8
14,094,506,801
liOO ... . . . . . . . . . . . .. . . . . . ... .
1889 •.•• •. • ..• •• .. . .• .• •• •.•.
1881i ••••••••• ••• ••••• ••••••••
1867 .• ••• ••. .• •••• • .••• . •• .
1886 . .••.•••... . ·· •·· · · ••••·
1885 . ..... . . . . ...... . . ...... .
)884 . ... .. .. . . . . ..... . . . . ... .
1883 . ....... . ... . ... .. . ..... .
1862 .... . ... .. .. .. . .. .• .. . ...
1881. .. . · ·· · ····· ··· · ·······
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
88,474,556.268
33,676,829,612
26,152,201,886
80.985,871,170
87,484,800,872
46,916,955,031
49,876,882,888
I
1881-1891.
T otal
All Cities.
$56,636,836.287
60,829,090,002
66,175,827,ll97
49,l>it ,6M,8R7
51,147,529,094
49,298,721,218
41,474,0U,044
4:l,lOll,984,783
61,781,472,798
60,878,241,610
68,471,8"49.244
[Oomm'Q.llloated by our London eorrespondent.)
LoNDON, January 16, 1892.
The trade of this country during 1b91 was, upon the whole,
better than at the outset the most competent observers were
prepared to expect. The Baring crisis left behind . it general
distrust antl apprehension, while by restricting the credit
facilities formerly given by London to merchants abroad it
threatened to disorganize some of our most valuable business.
The break-down in South America made it impossible for the
South American States to continue buying our goods as freely
as before, while the distrust generated by the Baring crisis led
investors here to fear that our colonies were borrowing too
rapidly, and therefore checked colonial raising of money in
London, and consequently somewhat restricted colonial trade
with the mother country. Th~ financial difficulties of Portugal, Spain and Italy were so great that they seemed likely to
lead to a crisis. And later in the year the failure of the crops
in Rui;sia and the deficiency all over Western Europe made it
probable that our whole Continental trade would materially
suffer.
As a matter of fact there has been a falling off in our exports, as the Board of Trade returns for December and the
whole year 189 ~ clearly prove ; but the falling off -h as by no
means been as great as at one time seemed probable. The
total value of the exports of British and Irish produce and
manufactures was in round figures 247¼ millions sterling
against 263½ millions sterling in the year before, a decline of
16,¼ millions sterling, or nearly 6¼ per cent. The decline
has been chiefly in metals and manufactures therefrom and in
yarns and textile fabrics of all kinds. Thus in theRd two
classes the value of the exports for the past year shows a falling off of about 12½ millions sterlin~ out of a total decrease
of 16¼ millions. The break-down in Sou th America largely
accounts for the falling off in our export::; of metals and manufactures therefrom, and the McKinley Tariff and the fall in
silver account for a gi-eat deal of the decrease in t extiles. The
McKinley Tariff bas caused our woolen exports to the United
States to shrink greatly, while the fall in s·i lver ha::1 disorganized the Indian trade and therefore led to a very considerable
shrinkage of the cotton exports to India and the Far East
generally. On the other band, the value of our imports exceeds 435½ million::1 sterling against about 421 millions sterJing in the year before, an increase of nearly 15 millions sterling, or about 3½ per cent. The increase largely consists of
cereals, and prices being higher there is a greater augmentation in values than in quantities. But there bas also been a
very considerable increase in the imports of the raw materia ls
of manufactures, especially textiles.
But while our foreign trade bas undoubtedly suffered, as
these figures show, the home trade has been good. Ther e are
unfortunately no statistics like the returns of t he B oard of
Trade to enable us to show this concluaively , but such e vid en ce as exists nearly all points in the same direction. I t is
no doubt true that there is a great falling off in the Clearing
House returns for the year. The total amount of the olearings was £6,847,506,000, a decrease of 953½ millions sterling,
or about 12 per cent compared with 1890. But by far the
greater part of _this decrease is due to the smaller business on
the Stock Exchange. Thus on Stock Exchange pay-days th~
clearings last vear were 849 millions, or 25 per cent Jess than
in the year before, and on Consols pay-days, which it will be
recollected occur only once a month, and are different from
theordinary settling days,tbefallingoffwasnearly 44 millions,
or about.12 per cent. On the other hand, the traffic returns
of seventeen of our principal railway oompanies show an increase for the year of £956,000, or nearly 1½ per cent. lt is
to be borne in mind that this is an increase over an increase in
1890 of 3½ per cent, which itself was over an increase in 1899
of 5½ per cent. That again wa::; over on increase in 1888 of
over 2 per cent, which lastly was a n increase over 1887 of
nearly 1¼ per cent. For five years in succession, it will thus
be seen ,tbe railway traffic returns barn increased; and though
last year the increase was much smaller than in the two years
immediately preceding and somewhat smaller than in 1888,
) et it was larger than the increase of 1887 over 1886. The
fact that the rail way companies did a larger business at the
very t~me when our exports were falling off seems to show
that the home trade was very large in volume. The same
conclusion is also pointed at by the fact that wage~ have been
weU ru~intaiued and that pauperism has actually decreased
BANKING A.ND FINANCIAL.
c---==========================================:;=========================:...================:=:•
there being fewer paupers at the end of 1891 than at the end middling American in Liverpool for the whole year was
of 1890. There are complaints indeed that while the volume 411-16d. per lb., while the previous year's average was 6d.
of trade wa.s very large profits were small, and there can be East Indian cotton has fallen into neglect. The last crop was
no doubt that in some important industries the complaints are small, and the stock in Liverpool is now exceptionally small.
only too well founded. Still, taking the whole commerce of The price of good fair Dhollerah has fallen to 3 7-16d. per lh.
the country, the year would appear not to have been unsatis- and fine Broach has fallen from 5d. to 4¼d, On the other
hand Egyptian has been in fair demand. At one time good
factory.
The decrease in pauperism is
the more remarkable be- fair Brown was as high as 6%d,, but it closed at 5 1-16d.'per lb.
The wool trade has also had a difficult year to face. There
cause of the unfavorable character of the year from an agricultural point of view. The winter of 1890-91 was the longest was an enormous increase in the wool clip, both colonial and
perhaps of the present century. Roughly, it may be said to Argentine. In round figures the augmentation amounts to
have lasted from the middle of November to the middle of 369,000 bales, or about 18 per cent. On the other hand, the
May. The cold was unusually severe and the drought was various influences referred to above, and more particularly
exceptional. Farmers therefore suffered much, not only the McKinley Tariff, seriously checked exports. The value of
from the difficulty of gettin2: in their crops, but from the still · the exports of woolens from the United Kingdom to the
more serious embarrassment of finding food for their cattle. United States fell from £4,800,900 in 189J to about
Feeding stuffs were scarce and dear, and large numbers of £8,000,000. The figures for Continental countries are
farmers had to sell their beasts at exceedi gly unremunera- not yet known, but
some months ago it wa1
tive prices. Genial weather at last set in towards the end of reported that owing to the obstacles interposed Ly the
May , and June was as favorable as could be desired; but July McKinley Act one-third of the mills in some of the
and August were wet and cold, and except for about ten days most important industrial centres of Germany were standing
early in September there was no weather during the year that still. It is complained by those who are engaged in the trade
can be described as summer-like. A bad seed-time was thus that the McKinley Act injured the industry not merely by
followed by a bad harvest-ti~e, and the result bas been dis- closing so great a market, but also by stimulating the Amerastrous for a great part of Europe. In Russia millions of acres ican demand for wool. Thus, while the manufactured article
of both wheat and rye were utterly destroyed, and the conse- was in excess of the demand, American bidding for the raw
quence is a terrible famine. Throughout the rest of the Con- material put up the price and so narrowed prejudicially the
tinent, with the single exception of Italy, the crops have all margin of profit. Over and above this, it is to be recollected
been bad, and they have been very bad more particularly in that the good years preceding 1890 had led to a very considerFrance. Yet if the preliminary statistics · issued by the able increase in machinery upon the Continent and more parDepartment of Agriculture are to be trusted, the yield in the ticularly in Germany, and that when bad times came the ex.United Kingdom of all kinds of crops has been very large. cessive means of production told heavily upon the industry of
According to those statistics, the wheat yield was 31¼ bushels the whole world. The average value per bale for 1890 was
per acre on an average, being an increase of half a bushel about £14 15s ; last year the average was only £18 10s.
Perhaps the strongest evidence that can be adduced of the
per acre compared with the year before, and an increase of
a.bout a bushel and a quarter compared with the average of great maji';nitude of the trade done last year and of its fairly
the preceding eight years. The barley average was about 34¼ satisfactory character is afforded by the cval industry. All
bushels, against 35 bushels in the year before, w.hereas the through the year the price of coal was well maintained and
average for the preceding eight years was only 83,½. The wages hardly changed. Smee the year ended it is true that
oats yield was 38¾ bushels, against nearly 41½ the year the miners in South Wales have agreed to a revision of the
before ; but then the average for the preceding eight yf>ars sliding scale: but throughout 1891 wages were maintained,
was under 38 bushels. All the three principal crops were which is the more remarkable bearing in mind how great the
thus larger than the average of the eight preceding years, and rise was in 1889 and 1890. In fact, the average wages of coal
wheat was very much larger. Furthermor.e, the price .o f miners at present is over 46 per cent higher than it was in the
wheat has been decidedly higher than the year before. The year 1879. Tru~, 1879 was a year of extreme depression in
average price in the principai markets of England and Wales every branch of trade; still, so great a rise maintained in such
for home-grown wheat was for 1891 37s. per quarter and for a year as the past is worthy of note. The high price of coal,
1890 81s. 11d. In barley there is not much change ; but the by keeping up the cost of the manufacture of iron and steel,
average for oats was 20s., against 18s. 7d. the year before. adversely affected those great industries. They were further
Wheat in fact was higher last year than since 1888. In this depressed by the McKinley Act and by the break-down in
country, however, cattle farming is much more important South America. For several years previously the South
than tillage, and cattle farmers have suffered, owing to the American dema,pd, and more particularly the Argentine delong winter and the consequent cost of fattening, and owing mand, for railroad iron and steel had been very large. When
also to the great increase in the imports of frozen mutton. Argentine credit disappeared the demand fell off enormously;
Upon the whole the prices of fat cattle were a little higher in and the civil war in Chili, together with the second revolution
in Brazil, qlso had a prejudical effect. During the first half
1891 than in 1890, while those of sheep fell heavily.
·The cotton trade all through the year h s been in an un- of the year the American demand for tin plates continued very
satisfactory condition, owing partly to the large crops coming active. The shipments during that period amounted to 263,226
two years in succession, and partly to the falling off in the tons, a monthly average of nearly 44,000 tons. In the second
demand for India and the Far East generally. In 1890, owing half of the year the exports to the United States fell off to
to the rise in silver there were enormous exports of cotton 61,920 tons, a monthly average of only 10,820 tons. The price
piece goods to the Far East, and furthermore there was a fell from 17s. 6d. at the beginning of the year to 18s. at the
wild speculation in the Straits Settlements and in China, in end of June.
The production of pig iron during the year was 7,250,000
mining and industrial ventures. Partly owing to the reaction
from the great activity of the vear before and partly to the tons; the exports were 840,733 tons, leaving for the home
fall in silver, and partly also no doubt to the consequences of consumption 6,409,267 tons. There was a decrease at the
the speculation, the demand of the Far East fell off last year. same time in stocks of 143,141 tons, so that the home conAt the beginning the price of middling American at Liverpool sumption exceeded 6¾ million tons. The stocks in makers,
was 5¾d, per lb., and for about three weeks the market was hands and in public stores at the end of the year were a
well support~d and the purchases of manufacturers were on a million and a quarter tons, against 1,888,000 tons at the end of
very large scale. Then it came. to be rec gnized that the the previous year. The pig iron trade was greatly disturbed
.American crop was the largest that had ever been raised, and during the year by bull and bear operatio11s. About the midthat the Indian and Chinese demand would robably not ket>p dle of 1890 a fear sprang up of a great strike of the furnaceup. Prices not only of the raw material, but of the manu- men ·in Scotland, and in fact the strike occurred in October
. factured article as well, declined therefore till July, when and lasted till February of last year. Ne,t:Jrtheless bear sales
middling American touched 4%d, per lb. For the next three forced the price down from 54s. to 47s. per ton, and after
months manipulators attempted with some success to control the close of the strike there was a further fall to 42s. per ton
the market, but then another fall began w hicb has continued ia April. Certain great operators in Lontion seeing this
ever since, with the result that the price of raw cotton is quietly bought up almost the whole of the Scotch warrants
lower now .than it has been since 1848, and the accumulated and in May called for delivery. The price then rapidly rose
stock in Liverpool is enormously great•. The average price of to :S9s. per ton. In June there was a reaction froin 59s. to
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
all
BANKING AND FIN.A.N<JIAL.
4&., indicating that the" bears'' were worsted and had had to '
accept the conditions imposed by the "bulls." Since then
the price has been fairly steady at about 47s.
Shipbuilding has again been surprisingly actively in the past
yeaT. For two or three years previously the construction was
!!!O large that twelve months ago everyone was looking for a
great decrease; especially as freights had fallen heavily and
new orders had ceased to come in. As a matter of fact,
however, the construction was very nearly as large last
year as the year before, new orders having been placed
dui-ing the late spring and early summer in very large
numbers. The actual output was 1,209,904 tons against
1,297,077 tons the year before. At all the great centres there
was a falling off; that is to say, on the Clyde, the Tyne, the
Tees, the Wear, the Thames and the Mersey; but there was a
considerable increase at Belfast, Londonderry, Barrow and
Hartlepool, and also in the Goverment dock-yards. Messrs.
Harland & Wolff of Belfast built the greatest amount of tonnage, having turned out during the year very nearly 65,000
tons. Messrs. Grav & Co. of Hartlepool were next, with about
69,000 tons. Of the veEse]s 784 were steamers and 209 sailing
ships. Not only did the Government dock-vards greatly increase thefr construction, their orders were also far larger at
private yards.
The money market fluctuated very frequently and very
widely during the year, as was to be expected after such a
crisis. The year opened with a 5 per cent Bank of England
rate of discount, but by three successive steps in January the
rate was reduced to 3 per cent, at which it remained till the
middle of April, when again by three successive steps it was
raised once more to~ per cent in the middle of May. In June
it was put down by two successive steps to 8 per cent; in July
it fell to 2½; during September and October it was raised to
4, and finally in December was put down to 8¾ per cent.
Thus during the twelve months there were no fewer than
· twelve changes in the Bank rate of discount. Partly the
flt;tctuations were due to the discredit and distrust which
reigned so long, but mainly they were the consequence of the
large demands for gold, and € specially of a fear that Russia
would withdraw immense sums from time to time. · Very
rarely, however, was the Bank able to make its rate effective.
Usually the rate in the open ma1·ket was much below the
Bank rate. In the summer, for example, when the Bank rate
was raised to 5 per cent the Governor of the Bank of England
communicated with the j('\int-stock banks. and laid before
them what were understood to be very strong and urgent
reasons for co-operating with him in making the rate effective.
But he failed to persuade the joint•stock banks, and within a
month the Bank of England rate had to .be reduced to 4 per
c~nt. For the whole year the average rate of discount at the Bank of England was £3 6s. 8d.,
against £4 10s. 4<l. in 1800 and £3 11s. 1d. in 1889.
The average rate, it will be seen, was lower last year
year .;ban in either of the two preceding years-that is, while
the Baring crisis was being rapidly prepared. The average
rate of discount in the open market last year was £2 10s. 7d.,
against as much as £3 14!!!, Od. the year before and £213. 2d. in
1889: 'Fhe open market rate, as wen as the Bank rate, it will
be seen, was lower on the average than in either 1889 or 1890.
Further, the figures quoted show how litt1e control the Bank
of England was able to exercise over the open market during
the past twelve months, the average Bank rate having been. £8
6s. 8d. and the average open rate only £2 10s. 7d.
·
As a matter of course distrust and apprehension continued
a. long time after the Baring crisis. It was naturally supposed that when the greatest of an the houses that had been
interested in Argentine affairs broke down so completely,
weaker houses would not be able to weather the storm. They
in all probability, it was argued, bad not acted with greater
foresight, and beyond all question they bad Jesser resources.
Therefore alarmist rumors continued to circulate very nearly
throughout the whole of the first half of the year. Those
·r umors made most free with the name of Messrs. de Murrieta
& Co., the second greatest of the houses interested in Argentine affairs and also the second in the number and amount of
South American issues brought out. It was known that
Messrs. de Murrieta were very seriously embarrassed. They
bad, unfortunately for themselves, guaranteed several railroad contractors, and the guarantees at the time when their
credit suffered pressed heavily upon them. Therefore
they bad to g,t assi~tance more than once during
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Federal Reserve Bank of St. Louis
28
the year. After a while they found it necessary to convert
their business into a limited liability company, and to raise
debentur9s amounting to a million sterling. It was hoped
that then everything was arranged, but before the year was
out the business had to be amalgamated with the South Ame1·ican Trust, and it is understood that an assets realization company is also to be constituted. For a long time rumor made
free with other important names ; but gene.rally it came to be
recognized that the rumors respecting these were unfounded;
that whatever the liabilities might be the assets were far more
than sufficient to meet them, and that in fact there had been
much greater prudence exercised than had been supposed.
Gradually, therefore, confidence was beginning to revive
when a new shock was given by the announcement that tht,
Messr s. Rothschild of London and Paris and Messrs. Bleichroder of Berlin, who had been negotiating with the Russian
Government to bring out a la1·ge Russian loan, had withdrawn from the negotiations and in fact refused to
have anything to do with the issue. It was even
reported that the Russian Government, resenting what
was understood to be an attempt on the part
of_ the leading Jewish houses of EUl'ope to put a stop to the
persecution of their co-religionists in Russia, had resolved to
take away from the Messrs. Rothschild its financial agency,
and that as a consequence immense sums would be withdrawn
from Western Europe. Foreign government securities were
sold in immense quantities, the sales being generally attributed
t u the Messrs. Rothschild as a preparation against the action of
the Russian Government, and there was a heavy fall in all departments of the Stock Exchange. Tl,e Russian Government,
however, on reflection, felt that it would injure itself more
than the great Jewish houses if it we1·e to attempt any act of
reprisals. It continued its financial agency therefore with the
Messrs. Rothschild and decided not to withdraw gold. Just
before, it had become evident that the unusually prolonged and
severe winter had injured the crops upon the Continent beyond all possibility of complete repair, wbile the crop proepacts in the United States were unusua1ly favorable.
Th~refore speculation in the American market sprang
up here and prices were carried upwards very rapidly when the quarrel between the Russian Goverriment and the Messrs. Rothschild occurred and the market
broke even more suddenly than _it had recovered. For a
couple of months all departments of the Stock Exchange
were lifeless and depressed. Rumor began once more to
make itst>lf busy with the names of important houses, and
predictions were freely circulated that embarrassments could
not be long concealed. These rumors, however, also came to
an end, confidence once more revived, and there was another
spurt of activity in the American market dUl'ing August and
September. It died away, however, notwithstanding the
fact that the American crops were even better than the most
sanguine had hoped, while the crops in Europe were worse,
there being actual famine already in Russia.
But in spite of the famine the Russian Government sueceeded in arranging with a syndicate of bankers in France
for the issue of a loan of the nominal amount of 20 millions
sterling at very nearly 80 per cent. Two German bankers
at first joined the syndicate, but so strong was the outcry in Germany that they had to withdraw, and the whole
Jewish community throughout Europe also &_howed its hostility. It was thought that the enthusiasm in France for the
Russian a11iance would overC'ome all obstacles and that the
loan wouJd be a great succes5. At first, indeed, it was 'said
that it had been covered between seven and eight times, but
soon it turned out that the figures were misleading, that in
fact the bulk of the subscriptio~s came from the banking
houses interested. Hardly had the subscriptions been opened
when the price of the new stock began to fall. It fell rapidly,
and with it other Russian securities, and then the whole foreign market · gave way. For a little while an utter panic
seemed inevitable, when the Russian Finance Minister came
to the rescue of the market and agreed to take back from the
syndicate two-fifths of the loan which the syndicate had
bought from him. A soon as this was <;lone, the syndicate, relieved of a load that threatened to crush it, and assisted by the
Russian Finance Minister, turned upon the "bears," whom it
succeeded in cornering, and the recovery in prices was almost
as rapid as the fall had been.
Since that event the foreign market has beAn wonderfully
lilteady, though every now and then we have warning that the
BANKING .ANJJ JflN.ANOIAL.
24
steadiness is deceptive and that a.t any moment we may find
ourselves face to face with a crisis. Thus the alleged state•
ment of the Emperor of Austria to some Polish delegates that
the danger of war with Russia was so great that the Govern•
ment must have control of the Galician railways caused a
scare on the Vienna Bourse. Similarly the other day an in•
credible rumor that a French naval officer had threatened to
fire upon British.sailors if the latter were landed at Tangier
to protect the lives and properties of British subjects verv
nearly caused a scare on every bourse and Stock Exchange in
Europe. Still the foreign market has closed fairly steady.
Upon the whole, however, the year has been very unprofitable
to the Stock Exchange. There has been no recovery in South
America; on the contrary the civil war in Chili has weakened
the credit of that country and wasted its resources. The im•
policy of Marshal Fonseca's Government in Brazil and the
revolution which ovei:turned it have also weakened the credit
of Brazil, while there are serious fears of the secessfon of
some of the provinces ; and nobody doubts that the wild
speculation of the past two or three years must end, if not in
a sharp crisis, at all events in a prolonged liquidation. The
credit of our coloniea, too, is not quite so good as it was at the
beginning of the year. Owing to the Baring crisis, there has
been unwillingness to lend so freely 2..s formerly, and the colonial governments appear to be unable to do without constant
borrowing, while India is threatened with partial famine.
The new issues during the past year were much smaller
than for several years previously, the total amounting nominally to 104½ millions s~rling, against 142½ millions in the
previous year. But in the total is included the 20 millions Rus•
sian loan which was offered for subscription here, but really
WM not subscribed to. The real issues therefore were only
about 84½ millions sterling. A very large n mber of these
utterly failed, while some sueeeeded only by private arrang~
ment with great bankers.
The movements of gold during the year have been ona large
scale. The United States sent us very large amounts and alio
took considerable amounts. Germany likewise was both a
buyer and a seller, and so were several other countries. The
total imports of the metal slightly exceeded 803( millions ster•
ling, against 28½ millions sterling the year efore. Of the
total somewhat more than 7½ millions sterling came from the
United States, nearly 6½ millions sterling came from Spain
and Portugal, over 8¼ millions sterling from Brazil, nearly a
million and a quarter from other South American countries
and Mexico, and over 2½ millions sterling from South Africa.
On the other hand the ihipments of gold have been about 24¼
millions sterling, so that on balance we have received, it would
appear, about 6 millions sterling. The United States took
somewhat under 8¼( miliona sterling, Brazil bout a million
and a half, oj her · South American countries and Mexioo over
a million, Spain and Portugal over a milhon, Germany over
6¾ millions and France over 5½ millions sterling.
Tbe imports of silver during the year amounted to £9,816,·
000 and the shipments to £18,114,000. Over 4 millions sterling
therefore more than received were exported. The price of bar
silver in London opened at about 48½d. per ounce and
closed at about 48½d, The average price for the year w as
45 l•16d. per ounce. Owing to the large impor ts of the previ•
-ous year, In<lia was a very small purchaser, and the price
therefore would have fallen even lower were it not for a good
~emand for Spain and Portugal and a moderate demand for
~ome other Continental countries and Japan.
Iu the table below will be found a valuable comparisun of
the highest, lowest and average price of silver for each of the
twelve months of 1889, 189\.1 and 1891:
PRICE OF 8ILVBR FOR THREE YEARS.
1891.
1890.
l8,i9 ,
BANK OF ENGLAND RATE OF INTE REST.
'
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Federal Reserve Bank of St. Louis
Ja.n.
Jan.
Jan.
Feb.
Mar.
May
June
Au~.
3·57 38:'.> days Sept.
Oct.
-·- ---
1884.
1 to Feb. 7.
Feb, 7 to Mar. 13.
l\lar. 13 to Apr. 2.
Apr. 2 to June 19.
June 19 to Oct. 9.
Oct. 9 to Oct . 29.
Oot. 29 to Nov. 5.
Nov. 5 to Deo. 31.
Jan.
38 days
35 days
20 days
78
days
212
2
112 days
20 days
3
4.
7 d a ys
5
56 days
3
3-½l
3
an.
fan.
M a.r.
May
May
ay
ov.
Dec.
'N
1885.
1 to Jan.
29 to Mar.
19 to May
7 to May
14. to May
28 to Nov.
12to Dec.
17 to Dee.
29 .
19 .
7.
14.
28.
12.
17.
31.
Year's average ....
1886.
1 to Jan. 21.
21 to Feb. 17.
17 to May 6 .
6 to June 10.
10 to Aug. 26 .
A ug. 26 to Oct. 21.
0 ct. 21 to D ec. 16.
Dec. 16 to Deo. 31.
Year's average . .•.
M
• a.r.
ar.
: pl,
A pl
t
ng.
ept.
1887.
1 to Jleb. 3 .
8 toMar.10.
10 to Mar. 24.
2-l to Apl. 14.
14 to Apl. 28.
28 to.Aug. 4.
4 to i:sept. 1.
1 to Deo. 31.
Year's&vera.ace .. ..
4
31g
3
21g
2
3
21sl
3
4
5
I
12 days
7dayl!I
28 days
28 days
56 days
28 days
6 3 days
35 days
2L days
88 days
-----
Year's averaice •.. 3 ·30 366 days
1889.
Jan. l to Jan. 10.
Jan. 10 to Jan . 24.
J a n . 2 4 to J an . 3 l.
Jan. 31 to Apl. 18.
Apr. 18 to Aug. 8.
Aug. 8 to Aug. 29.
··2·96 366 day 11 Aug. 29 to Se.p. 2 tt .
Sf'p t. 26 to D ec. 30.
Deo. 30 to Dec. 31.
5
29 days
4
49 days . Yea.r's average ..•.
31.g
49 d R.ys
3
7day s
1890.
21.g
14 days Jan. l to F eb. 20.
2 · 168 days Feb. 20 to Mar. 6.
3
35 days Mar. 6 to Mar. 13.
4
14 days Mar. 13 to Apr. 10.
Apr. 10 to Apr. 17.
2·92 365 days Apr. 17 to June 2d
June 26 to July 31
July 31 to Aug. 21.
4
21 days A.ug. 21 t o SApt. 25 .
3
27 clays Rept. 25 to Nov. 7.
2
78 days Nov. 7 to Dec 4.
3
35 days Deo. 4 to Deo, 31.
2¼ 77 d ay e.
Yea.r's average ....
3¼ 56 daya
4
56 days
15 days
1891.
5
J an. 1 to Jan. 8
3·05 365 days Jan. 8 to Jan. 22.
Jan. 22 to J a n . 29
Jan . 2 9 t o Apr. ld .
Apr. 1 6 to May 7 .
5
34 da.yE> Ma.y 7 t o May 14.
4
35 da.yE> M ay 14 to June 4.
Sig
14 days JU Jl'I 4 to June 18 .
21 dayi; Ju ne 18 ro July i.
J
14 daya July 2 to Sept. ?4 .
2~
2
98 day1> ~ept. 2 ~ to Oot. 29
3
23 dayP Oct. 29 to Dee. 10
4.
121 days D ec. 10 to De<'. 31 .
- • ·~-~4 3651\BVI'
Y~al'' ~a vAr11,qo<-1 .. .
9 d~ys
14 days
7days
77 days
3
21g 112 llays
21 days
3
28 days
4
95 days
5
2 days
6
5
4
31g
---3·56 365 day s
50 days
Udays
7 days
2~ days
7 days
70 days
35 days
21 days
35 days
43 days
27 dayR
28 days
6
5
4¼
4
31g
3
4
5
4
-- - - -
J an .
J an.
F eb.
M ay
J nue
ian.
eb.
-- ---
1888.
1 to Jan. 12 .
12 to Jan. 19.
19 to J<~eb. 16.
16 to Mar. 15.
15 to May 10.
10 to June 7 .
7 to Aug. 9 .
9 to 1:!ep t.13 .
13 to Oct. 4 .
4 to Dec. 31.
----
Year's average ••••
6
6
5
-
·· ---
5
7day11
14.d,1,yti
7 days
7 7 days
21 days
7 daya
21 d!HS
14 rla:rs
14 dar e
84 days
3 !1 day s
42 da.vs
22 days
4·52 365 days
4
31sl
8
3¼
4
5
4
3
2¼
3
4
3¼
--·
----
:-M ~236'i rlavs
The position of the Bank: of England on each Thursday of
the year 1891 was a1t folbws, [00,000::> omitted] :
=
~g
Q;>+al
-= obi
:.A~
o~~
"cs ~~
~,Q
.
.
.....
..
....
an. 7 ..
14 ••
21..
" 28
•.
F eb. 4 ••
11..
18 . .
M 25 •.
a.r. 4 .•
lL.
18 . .
25 ..
A r.r. 1 ..
8 •.
.. ·1s ..
22
" 29 ..
..
l\:fay 6 .•
., 13 •.
20 ..
27 ••
une
;; ..
J
..
" 10
17 . .
24 ..
J ~y 1..
J
.
..
..
.
...
8 ••
15 ..
22 ..
29 •.
A ng. 5 ••
" 12 ..
..
19 •.
..
16 . .
"
D E POSITS.
0
,s~
~
0
z
~
------- .R,-- - ££
£
1891.
..
.
...
year& :
24. dayl!I
21 days
14. days
81sl
7lday 11
3
4
126 d ay s
31g
14 days
3
95 days
5
4
Year's average
23 ..
" 30 ..
ct. 7 ..
14 ..
" 21..
2 iL.
ov. 4 . .
11..
,." 1~
..
25 ..
eo. 2 ..
The following table shows the Bank of England rate of in-
--
24..
14.
28 .
10.
13.
27.
31.
Rate Number
per of days.
oent.
Year.
cent.
1883.
Jan. 1 to Ja.n.
Jan. 24 to Feb.
Feb. 14. to Feb.
Feb. 28 to M ay
May 10 to Sept.
Sept. 13 t o Sept.
Sept. 27 to Deo.
26 •.
ept. 2 ••
..
9 •.
Nl'eN tor the past nine
Rate Number
per of days.
Year.
9 ••
16 ••
23 . .
25,t
24,7
24,2
24,0
24,3
24,l
23,~
:::3,6
24,2
28,9
23,8
24,7
24.,9
25,0
24,8
24,5
24,9
25,0
24,9
24,6
24,6
25,0
24.~
24,9
25,5
26,5
28,5
26,5
26,2
2ts,3
26,8
26,i'.>
:W,2
25,9
26,l
25,7
2 5,5
25,3
26,2
26,2
25,9
25,9
2 5,4
25,7
25,4
25,2
25,0
25,4
25,l
25,1
215,6
24,l
25,0
24,8
25,l
25,3
23,7
23,0
23,3
23,1
23,3
23,5
23,2
22,8
21,9
2 1,3
21,8
21,3
20,8
20,9
22,0
24,3
26,2
27,1
27,8
28,'l
28,3
27,1
26,0
27,0
27,i
27,2
27,l
26,8
~6.6
26,3
26,6
26,3
i5,6
25,l
23,7
23,2
:l2,8
22,2
21,9
2!:!,9
23,1
23,8
2:J,7
23,8
24,4
23,2
;=l
,Q
~
5 ,0
3 ,8
6,0
7,6
8,2
9 ,6
ll,6
13,0
12,3
11,8
12.9
13,7
12,7
8, 1
::,7
8 ,4
8,0
8,u
6,2
7,2
6,4
6,3
6,9
7,1
7,2
6,9
4,2
3,5
4,1
4,4.
3,3
3,8
4,2
4,8
4,3
15,3
4,6
0,2
5,4
4,8
8,6
5 ,5
4 ,5
4 ,3
4,4
4,9
4, 4
b,2
5,3
5,-4
r,,7
8ECURITIK8.
~
?--
~
.q
.s s
0
:!8
~0
Cl:lz"='
I -i
- - --- &
0
£
11,2
33,7
33,9
9,6
32,7
9,5
9,5
30,8
29,6
9,5
11,!'>
29,2
2~,2
12,4
28,5
1 2,4
2~ ,3
11,3
11,.1
29, l
29 ,1
11,3
11,3
2 9 ,1
28,6
11,3
30,4
11!3
29,4
11,3
2-l,8
ll,3
28,9
11,3
28,3
11,8
30.2
9,9
31,3
9,9
33.0
9.9
33,3
9,9
33,ti
9,9
34,IJ
u,u
9,IJ
34,7
85,2
~.9
37,8
12,4
37,2
12,4
3U,8
12,l
35,5
11,8
85,0
ll,8
34,7 11,3
3 a,8
10,3
32,4 10,3
32 4. 10,2
31:1 . 10,2
31,8
10,t
31,1
10,2
31,6 lv,2
31.2 12,7
:i2,3
12,7
30,0 12,4
29,7
12,a
2 9,8
12,3
29,7
11.~
27,7
10,1
9,4
30,3
10,2
29,6
10,2
1••·•
30,0
10,11
29.1
10,2
£
3,0 ,1
29,5
30,4
2~,6
2 9,3
29,6
30,u
31,2
33,4
3 2,3
3 3,2
3G ,2·
3-1,7
31.7
3 tt,6
30,l
30,5
30,3
32,0
32,6
al,3
29,»
29,8
30,6
30,6
31,8
;;o,s
80,5
29,7
2~,8
28,4
28,3
28 ,4
2~,l
28,4
28,1
27,5
2 8,0
30,1
27,4.
27,4
27,6
26,6
1:1 7,l
·.?6 0
2ti:o
26,7
129,.J.
2 7,5
27,5
28,5
f'~ds:::•::!.1'f~3!tant tablH belonalns to
£
15,5
16,R
17,l
17,6
17,4
16,1
15,6
16,l
15,4
15,8
16,1
14,9
13,!:S
13,4
12 ,0
13,7
12,9
l ·t,2
12,4.
13,8
16,l
17,7
18,7
19,4
19,2
18 ,2
17,0
16,0
17,3
17,4.
16,8
17,1
17,0
17,1
16,7
17,3
L7,2
16,8
lb,3
13,IJ
l d,8
13,4
13,2
12,6
14,0
14,4
15,3
14,8
15,1
15,7
14.0
ail
~
Q1-
Iii
~~a
P-4;::iCJ:l
:~~
J -~~i
--
Pr.ct. Pr.ct
4
2 78
2
4
31g 13.i
1 ffs
8
3
s
3
3
3
8
3
3
3
3
~'116
2~
2 78
2:ls
2716
214
238
23s
2
31g 31@
311) 3aa
3¼ 39T6
4
5
5
5
4.
4
8
3
;i'T9
4 11 16
4
;s75
3¼
2lla.
1 7s
llls
2-½l 11@
2¼ 11@
21.g llal6
219 · 11r.16
~lg
llls
2¼ 1¼
21g l¼l
21, 1~
2~ ll:S1e
2111 j14
211 2
2¼ 21@
3
3
3
3
8
4
4
4
4
11116
2 7s
2 7s
2;;18
31g
3¼
316
:t7s
4,
i
338
234.
a~ 21@
3-½I lta18
3~
4
1ae
tbl■ article wlll be
TRADE
AND
EXPORTS,
COMMERCE .
IMPORTS,
PRICES.
The foreign trade movement of the country in the
Below we show the export values of the four leading
calendar year 1891 was reviewed at some length in the staples for a series of years past. It will be observed
CHRONICLE of January 30, 1892. This article showed that the value of the cotton exports exceeds that of the
that taken altogether the year stands as the most striking oreadstuffs exports, notwithstanding the heavy movein the history of the foreign trade of the United ment of wheat, so that cotton may still be said to be
States. To cite only the more important character- king.
istics we find (1) that we exported more wheat
1 8 8 9 . _ r ~ ~ _ : _ _ ~ _!880._
1891. I 1soo.
and flour than ever before in any period of twelve
•
•
•
-,
• I •
-.months; (2) that we also exported more cotton -Cotton
...... 276,800,000 2M,275,863 266,6-!9,845 225,122,111 215,974,267 215,351,001
than in any previous year; (3) that our total merchan- Brea.dstuirs. 231,750,000 141,602,8i7129,665,S77 1116,662,66S 161,230,782 151,627,656
Prov'ns, &c. 181,000,000 142,84'2,419 123,807,318 91,24.9,816 93,760,93 2 91,471,221
dise exports have never been equaled; (4) that our Petr'lm,
&c. 46,200,000 52,270,958 58,293,200 ! 48,105,703 46,898,8!2 48,145,204,
imports have likewise been unexceled; (5) that the Total. ... .. 685,750,000 590,092,082 572,915,839 481,189,798 517,SM,823 506,606,0-12
total trade (imports and exports combined) is far in
The table following shows the prices of leading artiexcess of that of any other year; and (6) that the
of merchandise about the first of January in 1860,
cles
year shows the largest merchandise exports for any
was before tbe war excitemeat had begun to
which
single month and the largest exports for any quarter.
when the GovThe value· of the merchandise exports for December affect the markets; on January 1, 1879,
the past five
for
and
payments;
specie
resumed
ernment
rnached $119,932,532, and prior to 1891 the exports
inclusive.
1892,
to
years-1888
had never amounted to 100 million dollars in any one
COMPARATlVE PRICES OF l\[ERCHA:NDISE IN NEW YORK.
month. October was the first month to break the recJa.nuarySord, with exports of $102,877,243; and this was followed
in November by a total of $110,103,537.
1860. 1879. 1888. 1889. 1890. 1891. 18112.
--- - --- -- ------$ c.
$ c.
$ c. $ c.
$ c.
• c. $ c.
For the year 1891 the merchandise exports come Breadstu ti's8 00
8 00
8 90
8 75
8 75
8 40
ur - No. 2, ext ... bbls. 4 80
very close to a thousand million dollars, amounting *.lflo
6 75
5 .-5
5 00
5 00
7 76
5 00
Patents .. • . ...•..bbls. 7 00
li 70
s ao 8 1!5 4 so 5 10
8 10
to $970,506,282. As compared with 1890 this is c~~'in::r,i~,~~1iie:iii:· 48 011
2 85
S 00
90
8 25
.:l 65
8 :.!5
a 40
111
1 05
1 07
03
1 1>4
90
hlte, N o.l ,bu. 1 00
1 o,
an increase of 113 million dollars; as compared with t Wheat-W
l O.!
1 O!
92
Si
1 oim:
Red Winter, No. 2 .. bu. 1 80
91
98
l 05
1 06
90
l 08
West'n tipr'g, No. 2.bu.
··u2
liO
60
7d
69
01
99
Northern . . ..... bu.
either 1888 or 1885, in the one of which years the ex- Rye,
85
51
42
8l
88
b9
Oats , No. 2, whlte . ...• bu.
46¼
ports were 691 millions and in the other 688 millions, Corn47
47
60
90
64
41
58
West. mixed, No. 2 .. bu,
it is an increase of not far from 300 million dollars, *Cotton9 5-16
9 7-16 10 9-16 9 )8-16
11
f~~d~lffidW:!:~pianct:m:
~ 73-7/a
11" 9 1-16 10 1-16 91>-16 1oi~~
or 50 per cent. Up to 1891 the year of largest mer- Cotton
goods8
7
Brown sheetinlj's ... . . yd.
8~
07¼
IJ~
815?~
8}jl
Bl~
s~ 8¼
Print cloths, 64x64 .. . . yd.
chandise exports was 1880, with a total of $889,683,422. Fish~
.... "i 75
6 00
5 87½ 5 25
1'he total for 1891 exceeds this by about 82 million ~~:1it~~-r:::;~rei."~i: 4 ISO 164 25
21'\
00 19 00 0000 2800
'45
45
45
65
60
65
Hay- ~ping ...... 100 lbs. i ·oo
dollars; it exceeds the average for the ten years preced- Hemp9!)("
12
9
1J.(
18¾
a.nila. .......... . lb.
"is
2d
40
18
2i
15
Hi
Hops, prlme State .. .. .... lb.
ing by 206-½ millions. As to the imports, they have IronScotch plg . ......... . .. ton. 24, 60 22 00 21 25 20 00 27 00 23 00 22 00
17 00 moo 11~ 00 20 00 16 60 lo 00
been steadily rising in all recent years; the amount for L~~i~r::lsl1,,.::: :ioo\i~: ....
.... 4 00 4, II() 8 110 8 Sa 4 20 , 25
1891 at 828 millions is only about 5 million dollars in Leather17
rn
19
80
Hemlock l!lolet light ... . lb.
~¼
ig½ 19ij
80
28
26
80
29
Oak sole, llih . .... .. .•. lb.
excess of the amount for 1890, but as compared with Lime-Com.
95
1 00
90
1 00
1 00
80
75
ockland . bbl.
40
llO
45
87
S8
IIB
4S
Orlea.ns ..ga.U.
the average for the ten years from 1881 to 1890, inclu- Molasses-N.
Na.val Stores46
89
45
Rt¾
44½
27¾
140
~~:i~o~u~g:i~t-1 ~~:.: :\~l: 1 65
1 40
1 SO
1 ~ 1 02½ 1 00
sive, the increase is $126,450,216. The following shows Oils40
62
IH
52
84
41
88
both the imports and exports for each year ha.ck to Crude whale .......... gall. l 40
70
71
61
70
81
70
68
58
:f!ll:
57
IIB
60
M
118
g~~:eieJ~ciiiia:::
187f
Petroleum7!,4
... .
Crude to bbls ......... gall .
!p' 7~
MERCHANDISE EXPORTS AND IMPORTS (CALENDAJt TE.A.RS).
g~ 7¼
&~
....
Refined in bbl11 . . ... . . gall .
7¾
'7%
7"
1
/j~
Exports.
s
1870 ........ . .
1871 .. . .. .....
l872 ......... .
1878 ...... . .. .
1874 . •.. .. . ...
1876 .... ... ...
18'i6 .. .......•
1877 .. .. .. ..
1878 . .. ... ... .
l879 .. .... ... .
1880 ...... ...
1881. ..... ... .
1882 ... . .. . .. .
1888 ..... . ••. •
11:184 •• ••••••• •
1885 .. ·•·····
1886 •.•••..•
1887... .. ....
1868 ..........
1889 ..........
1890 . . .... .. .
18111 . ..... ....
403,686,010
460,852.088
468,83i,9.£8
667,757,867
569,872,553
510,947,422
Ol!0,666,629
620,802,412
787,092,078
765,159,825
S'39,tl8S,422
883,649.127
707,981,946
795,209,316
749,866,428
688,249,798
713,404,021
71.G,301,044
691,760,74.!l
827,106,347
857,502,648
970,606.282
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4
Import,.
i
461,132,068
678,111,099
655,964,600
59l'>,248,048
662,115,907
603,152,936
427,847,166
48o,246,800
-181.812,483
513,602,796
696,807,176
670,209,448
752,848,507
687,0611,216
629,261,860
587,e68,673
863,42»,189
708,818,478
726,202,714
770,526,484
823,897,726
828,312,646
Exces,.
•
Imp. 57,546,048
lmp. 112,759,011
Imp.l,87,126,751
Imp. 27,490,lSl
Ezp. 7,756,646
Exp. 7,794,486
Ezp.163,819,464
E:r;p.140,056,112
Ezp. 805,279,590
Exp. ~1.557,021:1
Exp. 192,876,246
Exp. 163,SS9,679
Exp. 15, 131:1,489
liJxp.108,148,100
Exp. 120,104,568
Exp.100,881,120
Exp. 49,l"l74,832
Exp. 6,482,666
Imp. 88,441,971
Ex,p. 66,679,863
Exp. 84,104,822
&p. 142,198,638
ProvisionsPork, mess ... . ......... bbl. 1g~7½ 7 00
10 00
E~~~-~~~~~~~-.-~~l: 14 oO l7 00
1btal F<>rei gn
Trade.
:::i·
•
SM.718,068
l,08S,46ti,187
1,124,802,647
1, 163.005,916
J, 181,988,4!30
1,014,100,858
1,018,018,704
1,100,548,712
l,ltlS,004,656
1,278,762,621
I ,586,490,508
l,o0S, 758,570
1,520,820,453
1,482,276,532
l,!!78,628,288
l,276,118,471
1,876,833.210
1,421,119,522
1.416,068,407
1,li97,692,83 1
1,680,900,27-4
1,798,818.928
:l~:
f:ri:t~~~<;~~~~--·:::::::
Butter, prime State . . . lb.
Cheese, fine fa.ctory •• .. lb.
Rice-Domestic ••. •. ... .. lb.
SaltLiverpool ground .•.. sack.
Liverpool,Ashton's.sack.
fair refining •• ... lb.
s~:,~;;
Refined hards .. ...•.. . .. lb.
T allow ....................lb.
Wool-X K Ohio fleece •. •lb.
~
11
43,(
l 15
l lf5
1¾
··io¾
40
5•75
2a
~
70
2 00
6~
~
85
10 25
7 25
12 23
85
2 60
70
™
85
2 50
5¼
i~
83
8¾
4>- 63~
23
1m:
2 50
4-U
8
1160
7 00
12 25
6}( 47~H
86
88
26
~
10 50
7 00
12 76
'i;.(
266¼
IA~
~o
67¼
2 50
i ISO
•-1•1 · 1-1'
.0~~41~~
84
80
----
2 Extra in bbls." Is now the common shipping flour to
Great Britain, and is about the same as the .. Wheat Flottr, State,"
quoted iu 1860 and previous years-"Patents" are the hl~hestgrades
and corresoond with Extra Genesee of 1860 and previous yea.rs.
t WH~A:T-" White No. I" prob!!.bly corresponds as nearly as any present
grade with White Genesee in old claasitloatlon-" Red Winter No. 2"
would probably ra.uk with •·Red Western" of old classiflca.tion.
The other grades mentioned for breadatufta oover same as quoted
in old lists of prices in "Hunt's l\ferchants' Magazine."
t COTTON-On Oct. I, 1874, grades of cotton as quoted were changed bJ •
the National Cotton Exchange. According to the newclassltloatlen
every grade was reduoeJ, so that (for illustration) Middling aoeor4ing to new classiftoatiou was on that day quoted lie&. lower llutn
Middling ot the old ola.ssifloation.
RThe brown sheetings quoted ar;, Atlantic Mllle.
* FLOUR-"NI),
I
6
18~
15 75 14 23
161)
7 25
17 00 18 00
10
10
81-16
80
28
12
12
6
~
)
·-·
~
~
~
~
~
~
~
~
~~
~
01
~
i;,:~!5
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A
,S
.. B~O~m~tm~
E-➔
(1)
§
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ui
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d
...
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8_
~ S .;;
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Years
ending
30
J 'ne
I
;a
~
C7l
,_,
.D o A
..C o
d
g
$
$
. . 180,356,677 13,007,011
.. 24.3,335 ,81 5
5,5:l0,53 8
. . 316,447, 283 11,176,7(·>9
-· 2J8,745.580
6,498,228
. . 434,81 2.0,rn
8 , 196 ,261
. . 395,763.100 17,02 4,866
.. 357,4 36,440 8,737,443
-. 4 17,506,379 1 4 ,13i,56~
.. 435 ,958,40 8 12,056,950
-- 5 20.223,6 84
6,883,561
.. 6 26,595,077 8 ,717,458
.. 642 ,136 ,210
8,68 2,44-7
. . 567,4 0 6.342 19,~03 ,137
- - 533,0 05,436 13,696 ,7 93
.. 4 6 0 ,741,190 7,992,709
. . 45 1,323,126 26,24.6,234
-- 437,051,532 13,3 .W,2 15
•. 44F,,792, 141
5 ,624,94S
.. 067,885,565 80 ,758,390
. . 642 ,6~4,6 28 i1ro,931;,259
. . 724,6:Jg ,5741 3 4,37 , ,054
-· 7 ? 3,180 ,914 17,734.,1 49
. . 667.1-197.693 2 2,8 .il,317
. . 577,5 27,3~9 26,i-,91,ti9ti
•. ti3 ?>,436. u~ 20,743,347
. . 09 2 .3197 ,768 42,910,601
1
. 723,U5 ,114 4 : ,934,817
.. 745,!.31,65~ 10,':!81,858
12,943,342
I 8,.2 8<,M7•
.. 7 · 9,310,40.
1891 •. H«,91 fl,196
1862
1863
1864
1865
1866
1867
1868
18 69
18 70
1 871
18 72
1873
1874
1875
1876
1877
1878
1879
1880
188~
188 J
1883
1884
1 8.85
188 6
18 8 7
1888
l l-C89
181JO
.
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l 00,60 1,634
58,38 1,0:l3
71,197,309
3 9 ,026 ,6·27
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3 '>,0 03,498
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44,856,715
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9 ,701, t8i
18,376,234
5 9 .952,28:"I
17,274,491
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$
1 ,1'1.7,7 37
57, ..., 87,:3 35
4,734,90 7
9 ,26~.1 ,,3
14,8 16,7 ti2
21 ,84 1,745
2 1,387,758
!.a!l ,l M ,882
2 4,519,704
31 ,75 ",780
3 0 ,328 ,77 4
3~,,f'l l .859
3 2.587,9 85
2 5,1.H ,lo5
2 '> ,:l29,252
2 !l,f171 ,863
24.,t, 35,67 0
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lh ,8 29,599
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Mer c h a ndise
Excess.
$
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~
~
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5 :-J,H3:i,7 •~
2,7!) 1 ,0 6-1
5 ,>',30,'{4!/
l Z,342,H::!J
1 6 ,7Ho,13ul . J_
1 ,93<\83 d ~
1 5 ,459 ,574 1i,
1 0 ,1:;7 ,475 ai
17,3 ° 9,317 ~
2 :5,3 0 2,!'>43 ::,
' '6 ,953 3 69 'Z
2 3,63 H,216 .9
1 7 ,947 ,241 ~
1 7,385,280
1 5,043, •,.,.:3
8,044, i\71
5 , · 38,77:i l ~
1,2 l-7 ,980 \ :
fi,297 , <i77 !::1
8 734 2 63 ""
~:46 -l :203
11 , 4 5 ti,4 81 't:S
17, 203, 1,0 6 ~
11,6 ~0,~12 ;:r
9,036,313 o'
1
1 2,634, 2801 .S
18.ull,033 ~
13,8411,945
_4.56-l,10!!
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BALANCES.
Go ld Com amt
Bull!oi: Excess.
>6.362.65• "2,6~,988 &J1, 89,!;64,614 F. <1•.
$
Exp.
l ,313,824 r.Xll,
Tmp. 3 9,370,818 Exp. 2 1 ,532,89 2 rmp.
G i8 ,738 Exp.
fmp .157,559,29:3 Exp.
[mp. 7G,7 32,082 Exp. 89,4 8-1,8G5 Exp.
r mp. 85,9 5~,544 E irp. 51,81:12,805 Exp.
[mp. 98,459 ,447 Exp. 63 ,001,0 l8 Exp,
hnp. 7 5,483,541 Exp . 22,00 1 ,7tH E xp.
Tmp. 131 ,388,6 82 E xp. 63 ,t:i58 ,90 l Exp.
[ mp. 4 3,186,640 Exp. 21 ,870,930 E x p.
Imp. 77,40 3 ,506 Exp. 2l ,fi7 9,01'2 Exp.
[mp. 1 8 2,41 7,491 Exp. 5 9 .80~,64 7 Exp.
Imp.119 .6 56,288 Exp. 40,831,302 E xp.
Exp. 1 8.8 7 G,698 Exp. 36,174,2 68 Exp.
rmp. 19 ,fl fi3 ,725 E x p . 14,539,~8 3 E xp.
Exp. 79 ,U~3,480 Exp. 53, 284,184 Exp.
Exp. l.Jl,la9.2 28 Exp. 23,184,341 ,E x-p.
3 44. J .J O E xp.
E xp. 257 ,814,231 Im p.
4,125,760 E x p.
Exp. 2 6 4,636,602 Tm p .
Exp. 1 67 ,908 ,3 59 [ mp . 1,037,334 E x p.
Exp . 259,71? ,,lf-< [mp. 77,1 19,37 1 Exp.
Exp 2f>,90 2,68 3 Imp. 97,466,127 1Exp.
1,789,174 Exp.
Exp. 1 00, 6 ::08,4 "'8 I mp,
ti,133, ~6 !. Exp.
Exp. 72,8 l.5 ,fl l6 Exp.
Exp.164,(4'>2 ,4~6 11E . I). 18,2f>0 .640 Exp.
-::x p . 44,08 8, v.14 Exp . 18,2 13,804 Exp.
E xp . 23 86:{,4'13 Im p . 2 2, ·L0 8 ,8 42 E xp.
Imp. 28,002,607 rm 1,1 . ~i3,209,4 1~
4 E-x
p.
!'> 58,083
Exp.
Imp.
2,730,L.77 Exp. 25,
E-s:p. 68,518,275 Exp. 1.9,667,42 7 Exp.
4,331, 49 Exp.
68,130.087 ,E~
Gold 0<....,)i=-n--:-j-,S""'i.,..lv_e_r_C7.',-o-=in- 1
a nd Bullion. and Bullion.
30, 1862 .AND EA CH FISCAL YEAR Jl'ROM 1 8 tH 63 TO 1890-91, INCLUSIVE
t~-.:,~: ~'C:::~~'Ojg
•.• .... .. .. H>O,fl70,1101
M,993 ,562 203,964,Hll7
3 ,3:{8,9:38 158,887,98~
8 ,0 59,4-18 Hi2,0l3,500
1 2 ,515,908 348,85'.l ,522
18,746 ,520 i97,303,6:i3
15 ,5 14,8 17 28t ,9:52,8 99
14,473,190 286, 11 7 ,697
15 ,:'l0 3 ,19 3 :19 ~,77 1,76 ,..
l 9,82l,ti8l 442,820,l78
24,420 ,73 R 4 44,177,586
29,4 3 3 ,50 8 5 22 .479 ,31,
2 7,05 4, 200 586 ,283,040
2 2,313, 584 5 13 ,441 ,711
20,606,!➔a4 ,"S40 ,3R4 ,671
20,775,63 7 1>0 2 ,4 75,220
20,429,3l f\ o9 4 .8 G3 ,9 66
13,4.o 9, 9 .'l0 710 ,4 28, 743
, ,572,854 .835,79 8,92. 4
12,420.qz-; 'l02.~77,3 ~~
12 ,0, 6,u4 7f\O,o-12.2,>
t·L,702,272 q23,8:19,402
a .93 1,431 740,5 l::$,60 9
2 1 ,6 ;{,,1,,551 174 ' , 18H ,755
19,158,0;'il 1>79,.'>24.830
17 ,005,036 716,1sa,-, 11
20, ti35,42o 169 ">,954,507
25,284,662 742,401,375
22,378,5fi7 857 ,828,tiS-1
· '•""" •
8S4, ·80,AlO
,,.I
EXPORT S.
Dom estic.
Gold Coi n Bilv~r Coin
and B ullion. a.nd B ul lion . . Merchandise.
$
31,0,H ,051
-- · -•• ···
97,134,H2!
56,558 ,706
70,127,466
3(i, 22 D,676
68,231,158
2 8 ,442,776
2 8,580 ,609
64 ,58 1,678
4.8, 3 77,502
44,47:2,03 8
32,645,480
6 l ,543,:'i4:'i
29,43 1,757
22,3i'i9,l01
6,632,570
4 ,145,085
1 ,775,039
1 ,826,307
31, W3 ,6 ~5
8 ,9 20, 909
S i'i,:!9 l,204
2,741 .55!1
32,7• 6 ,066
5,iO,J,3 04
12,560,084
54., ~30,3 ~l2
l::l,403,632
84 93>U\SI
~8
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4 ,05 3,56i 17,960,53 5 6,169,276 l ,9~3,7n 186,003,9 12
1,93 8.84::l 15,3 a3,96 1 3,527,0 10 1 ,:395,969 143,50J.,027
3,311,844 29,0il9,055 1,822,327 l,2 U2,7 75 136,9-i0,248
2,503,8 31 tl.341,4 20 1,06 9 ,843 2 ,:-rno ,854 337,5 18,1 02
5 ,045 ,609 14,719,332 2,7 llti,9 5 1 3 ,0 9 5,2 2 5 279,786,809
5,4 0,!1 25 12 ,562,99!1 4,165,186 5,872,9 41 .!69,38 9,!1 0 0
5,67 5,308 10,951,000 7,560,72 2 6 ,661,6!12 275,166,697
14-,362,229 16,155,2!)5 5 ,055,35 ~' 9 ,216,!H l 3 76,616 ,'173
14,386,463 14,4.21 ,270 2,104,5 3 ( 11,9 3!,09!) t 28.398,90E
5,02 6,231 15,690 ,4:'>5 l ,171 ,2 ~l8 5,908,036 -'28,487,131
12.798 ,490 17,446,483
384,677 10,318,351 505,033,439
8 ,9..>1 ,769 16,849,6 19 1,396,934 5 , fi 33,785 569,433,421
7,~03 ,924 14,158 ,611 5,437, 132 2,837,1'>81499 ,284,100
7 ,943,~72 14,802,424 1 ,745,293 4 ,722,318 5 25,582 ,24,7
14,5 28 ,180 t:l ,804,996 4,231 ,273 8 ,796,2 2 6 58::1,670,224
16,491 .0 9 9 14,lfl4,69-:! 2,571 ,8 81 4., I OCUJ 55 6SO,H83,798
U ,671,052 l 2,093,792
4 42 ,i;2
6,999,8 77 698,334,95 1
12,'l75,!H4 11,687,1 25 1,863 ,98
5,931,040 8 24,106,71)9
1~ ,544,23~ ~8 ,451 ,3~9
730,~2: 4,4 41,0?~ ~83 ,9 25,947
ts,095 ,33 !i , 7,3· 2,525 1 ,184.,.m;, 4-,75 2,90 ,l dl3,239,7:l2
10,75:,,2-12 19,61f>,77 0 2 ,679,979 7,517,17:3 804,22a,632
14,594,945 J 5 ,!148, 757 5 ,7 13 7 .753 11,119,995 72 4. ,1-164,852
16,550.627 15,506,l'io9 ! 5,736,33312, U9.081726,6x2,}'4 6
17,850,307 13,:'l6 0,301 10,1 86 .12 "> 10.353,168 6 5,~6 ~,52
17,260,191 13, 160.2 8~ 3,9~5.883 9,201.468 703,022.9:t3
15,40:{,669 12,092,403 5,816,150 7,402,520 fi83,862,l0 l
l~,678;.H5 12,118,766 5,0~.H.953 ll,!04,586 730,2,..2,609
21,0!2,9M( 12.~34,856 3,870,850 12,4:96,Si• 845,2tJ;j,82 ~
IS.(>, 6,8So 1",<10,•
1.428, 1118 • 1M7.274 872,27M• ·
IMPORTS.
Foreiim (1-e-cxpor ts).
l\:ler chanGold Coln Silver Coin Merchan- Gold Coin Silver Coin Mercllandise.
and Bullion. and Bul lion.
d ise.
arnl Bull'n . a nd Bull'n.
dise.
TABLE SHOWING TOTAL VALUE OP' EXPORTS AND IMPORTS OF THB UNITED STATES IN TH E FISCAL YF.AU. ENDING JUNE
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
TRADE .AND
son exhibits the relation between quantities and values as
affected by the change in prices of many articies. The largest
imports of merchandise ever recorded were in the year ending
June 80, 1891, amounting to a total value of $844,916,196.
IMPORTS Oll' LE.t.DING ARTICL"E8.
1887--88.
ARTIOLJ:S.
1888-89.
1889-GO.
lS00-91.
Fors auu fur skins. value .. $
~lass and glassware, value.$
Glove&, kid and i'ther, val .. f
Hair and rnnts. of, value $
llides and skins . .... . ..... .. $
Horse•, o-,.ttle 11nd sheep ... $
Ind. rub'r & gutta percha.lbs.
1
Iron ~::d steel,
tures ofPig iron ............... tons.
do value ............ . . $
Bar iron .............. lbs.
d u value .............. ,
Railroad bars, steel.. tons.
do
do
value .. lf
•Total value...... . ....... I
~gd ma:~ac
t!:tii!:':~.
~~~~'.s. ~.~ ·.:·::: :f
Linseed .... ..... .. .. .... bush.
Lu!ier ~.~~~: :::::::
:viiiue:l
.M:olaeaes ...... ... ........ galls.
op1~.1;~~~·ei>are,i::·ibs~
do
do
val..$
Ore. silver bea•lnl!', value .. $
~ti~~ ~}~.a~f: fa1:ie::i
Paper stoc11:-Rags ....... lbs.
do value ........ ......... ti
All other, value ........... $
Pe .,-per .............. . .... lbP.
d'l value ..... ... .... .... . $
Prectbus 11tones and lmtta.
tlons. u nset ........ . val ne.f
Rice ar:d rloe meal. ...... lbs.
Sa~t ~a~~~·.·.·.::::.·.·.:·.::·.: :iiis~
dovll.lue .... .. .......... . ... f
Silk, raw .... ........ ..... .. lbs.
:I
Soda, nit• ate of . . . . . ... lbs.
1
Std0and
a. OAri~. tnc1~ 1!i~i •so·d:
soda ash .. . .. .. .. lbs.
Sllk~':nan~~o~ureii of., ·va1·.
15.th~.81H
2.81'2,478
4 .82-1.190
17,545,189
28,742.171
20,5112.223
o,7<5.:144
7,~54,- 25
4,487,267
2, <03.•85
28,939,8'1 9
7.64.... 181
36,62R,S51
16,067,202
15,IJl><,i:-Oli
2.418,1<71\
4,164.0Rll
20,46H,475
25.70:5,M8
18,746,417
7.4t6,rns
7,7LH.921
4,f.23,ffOO
2.585,1141
25,127,715()
6,831." 3
82.3'.-!9,50:l
12,887,131
15.0t12.71Jtl
2.074.912
4.590,5, o
19,t-44,087
28,4~1.271<
~0,74tl,471
7,553,~l t!
7,3f>l!,51~
5l01,8t6
8,0:.!6.-i/16
21,&H,886
•\30S,t, 1
8S,8,l!.37q
14,854,512
l':'6,~27
146.772
S,682,6b7
2,860,462
64,l2!i,ll7tt
69,280.491
1,185,6115
1,112,901
~50
24,257
5,7117
581,LOO
41,6711.'501
42,877,793
549,2117
1157.658
6,2.!l<,1-36
6.lllll,828
2,:,91,175
8,25»,460
8,851,685
2,83».0.~7
9,\!15,0 I!
9,600,667
la7,')24,551
81,415,800
o,159.~!H
4,'i t 8,897
5117,MO
488,241
l,4i'>4,ll97
1,453.291'
ll.ll51,7111
'i,74-l/>72
1,6 ,6,774
»,111615GO
2,1:llti,tifl0
2.~42,888
142,78~.85~ 149,lttl,831
2,580,1111
2,M2,H51
2,,80,83i
S,8i:t,lllt!
18,759,217
ll,:'5M.'"26
l,6Hl,,H5
1,57P,12l
10,1520.907
155.628,501
8.012.9i'J
690,34d,2 '6
1,156...62
15,173,840
19, l n l,208
83,350,\19117!!.,.~4."24
2,449,639
lC,771,638
18/i, '-7•',560
3,41J9,4:-i7
58.!,377, I 4 7
9 13,131
5,829,646
lk,644,02.~
35,122,766
161.148.ffi4
2,275,0l!l
2,54 1,1174
506,0311.86~
1!50.92:'i
5,1148, , 60
2::1,285,0911
38,686.374
2U4,06::i," 50
2,709.181
12,46tl,ll7R
214,36:3.5-2
4.659,f,40
511,ft•6.ltt8
92-'l,"89
4,917,fl!!S
17,IJ94,,654
87,8,• 0.143
22~,9~9.tl72
2,1123,37-1
284.580,151
808.090.'7'78
882,78q,952
854,744,885
-t:rstg itg~~:t~~
~~:~~:~~~
12,180,482
81.1!16
2,0l >J,967
43,287.7;8
8.d.til:S
] 81
8,47,-,
58,2-ll.02·•
2.560,886
6,819,5'2
J..515,546
l,K67,b62
10.076,009
20,549,084
2,tl53,1 {4
lf>l,519
787,778
~.9'18,1108
2,410.86 ➔
8,0:-11,4&4
121,058,212
2,00!i,477
2,9 '> H.801
rn,564.f-83
l,;;ial",687
s1g~. bro!~ .....~~!~.~::ii:1s~ 2,wi:~:~~i 2,7o~:rg~:~~l 2,93~:i~g~ 8,4s.i::;~:~1i
1
Tea. .. do······~~l.~~:.·.·.·.::ii1s~ i~:m:~~ ~:m:~~ ~~:2t:~~~ iu~~:!~~
13
12
5
T~~ ;:~~1:ii o~ iiiiii:. ·. ·. ·. ·. ·.·. it>s~
·~1g:g~
Tt!i p):t~::::::::::::::::::ii>s~ i:i~:~~~ ;;g1g~~ i:~8~:~~ 1,o~i:~Ji:8~~
Tob:o<:..o, 1"e~r·.- :.. ·. ·.: ·.:".ii>s~
½~:i;~J~ 1~A:m:~¥ ~i:~~o:~~~
fs:~~t8~~
1
1
1
Watct~s and ~b~:ii1onts: :I
~:6~i:ri!~
t~;;~~~
N;lm
{:~~~ J~i
Wine 111 casks ... ... . .. galls.
8,383,322
8,0'i8.5M
8,485.792
8,''fiO,:jO
2
2
2
2
Wine ?i bottle~~~~.e_-_-_-_-_-_-do~~
'~cii:~ •J~i:~t~ •J~g:Jii •~tJ;~gg
0
1
t•~d
Wool
wooleiia~~°cicis:.:: .$
Wool, raw . . . . .. ......... lbs.
do
value ...... .. .... $
Cloths ... . . ...... . ...... . . .. $
Shawls .. ............ .. ..... . $
Carpets . ...... . ..... sq. yds.
; ;or~~..
do
g;g~~~:::::::sii:·ia}
value .. ......... $
All other wool manufact .$
5,049,136
113,558,753
15,887,217
11,218.9:32
958,LSl7
892,9SI
5,5h0,224
126,487,729
17,971,515
9,476,>•7"
858,76's
flOl,9,-,7
6,409,7.:1~
105,431,285
15,264,083
16,140.801J
1,006,67 1
1'05,51-13
81:~i&:~~
18,842,863
15,9011, 715
91}~:~~i
19,466,474
22,038, I~
116.i!i·!~~
24,~0~.:no
14,4~?,316
7,3ti5,'l44
129, O'l,648
18,231,3i2
12,0;!5.0i5
718.4 ~7
6:'>8,006
For the 12
F01• the 6
1891.-Exports-I>omes c .... $118580!')66 $M4,703,873 $957,337,991
Foreign......
1,351,966
6,419,458
13,168,291
Total.. ... .. ... ... .•. $119932532 'fMl.12 1,831 $970,506,282
Imports.... . . . . . . ... . . 69,4A.4,655 395,666,624 828,312,646
Excess of exports over imports $50,487,877 $155.455,'2071$142,193,636
Excess of imports over export" . . . . . . . . . . . .
.... .. .... ..
. •.. . •......
1890 -Exports-Domestic .... $97,421.907
Foreign......
1,029,815
Total.. .............. $98,451,75~
Imports ...... . . . . •.. ... 60, 02,33i
Excess of exportfl over imports $37 ,649,421
Excess of imports over exports l • • • • • • . • • • • .
$459.635,665
5.4-60,694
$46f">,oOS.:%9
412,270.li4
$52,826,18'>
$845,s:199,603
11,502,945.
$857.!'i0-2 />48
823,397,726
-$34, l 04.,8. 2
•• . • • •• • • • • •
1891.-Exports-Gold-Dom..
$254,50 1
Foreign... ...
1,,31
Total.. .... ... .. ... . . ~1f6:i32
Silver-Domestic ..•. $1,1'i8131
Foreign......
1.160,952
Total.... . . ... .. .... -$2,339,083
Total exports ..... , $2,595,315
Imports-Gold....... . . $6,018.851
Bil.ver .. . ..... , 2.080, 654
Total. ................ · $8,0l:19,505
Excess of exports over imports
Excess ofimpoctisoverexports $5,504,190
• •••••••••••
9,890,425
IMPORTS AND EXPORTS FOR THE TWELVE
MONTHS ENDED WITH DEC. 1891, AND
1890, AND FOR THE SIX MONTHS,
JULY '11 0 DEC., IN EACH YEAR.
The Bureau of Statistics has issued its summary of the foreign commerce of the country for the month of December, the
twelve months ended with December, and the six: m onths
from July 1 to December 31, 1891. These statemeO:ts are more
nteresting than ever before, showing, as they do, the extraordinary trade movement for the calendar year 1891, and also
for the last six months of that year, since the tables and
statistics in the article preceding are made for the fiscal year
ending June 30, to compare with the regular Government
statistics of prior yea1·s.
The calendar year 1891 was marked by a volume of foreign
commerce never before equaled. The imports of merchandise
exceed€d the year 1S90, ~ hich bad bHn up to that time the
largest on record, as they amounted to $828,312,646 m - 1891,
lr7,'t3 3,03 :'> $76,h40,M3
1,394,873
2,447,419
$8,627.908 $79,088,312
$6,946,361 $l2,!n!l,90~
10,577,970 14,277,03!
$17,5 24 . .:S31 $27,196,937
$26.152,239 $106.285,249
$41,663,84fl $44,970,110
11,849/' 15 1 8,192,760
$53,513,861 $ 63·, 162,860
$43,122,399
$27,36i:i22
........... .
l890.-Exports-Gold-Dom..
$617,400 $15,531,693 $20,6M,,960
Foreign......
14,95-1
370,M7 __!_,408,]__l;_(
Total...... . . . . . . . • . .
$632,354 $15,902-;-250 $24,063,074.
8ilver-Domeflt1C.... $1,163,002 $8,060,170 $16,098, 1?9
Foreign•. . _. •. , 1,672,267
4,858,~12 $10,441,600
Total.. .............. $~,835,2ti9 $12,918,382 -$26,539,789
Total exports..... $3,467,623 $28,820,6 2 $50,602,863
Imports-Gold. ...•.. . .. $6,033,013 $14,9~6,303! $20,280,090
Silver........
1,885,409 11,683,64~ 22,426,119
Total.... ... ... .... . . . $7,918,422 $26~609,948 1$4.2,t>56,:d09
Excess of nports over imports . . . . . . . . . . . .
$2,210,684.J ~~•~~?:~.~
Excess of imports O
..!_e! e:rports ~~5_0_, 7_ 9_9_1_ __ _ __ _ _ _ __
TOTAL MERCHANDISE AND COIN .AND BULLION.
1891.-Exports-Domestic. ...
Foreign......
Total .. ..............
Imports...... ..........
$120013198 $558,882,769,$1046898789
18,391,301 ~9,89~7~
$1225 27847 1$577,274,070 $1076791 ~31
77,544,160 ' 4.49,179,9l,5 891,475,606
!~514,64.9 \
:~~::: ~i ~~~~: ~;:~ ~~~~~: $~~..~~~:~~.: $1~,~~~:?.~! $1~?:~:~:?~~
1
1890.-Exports-Domestic .... $:)9,202,309 $483,227,528 $882,752.7~2
Foreign......
2,717,061:i j ~2,689,463 1 25,352,65~
Total.. .•.........••. $!01919375 H93,916.991 $90!<,1CJ5,4ll
Imports................ 68,7:20,753 438,880,12:ll 866,053,985
Exeess of ex p ::,rts over imports $33,190,622 $55,036~69 $42,051,4.76
Excessofimµortsoverexports l •••..•••..•. 1_ ............
········::-·..:
IMPORTS AND EXPORTS BY PRINCIPAL CUSTOMS DISTRICTS.
0USTOM8 DIS• D EOEW3ER,
TRlCTSAND
PORTS.
1891.
lmports. Exports.
-----1---.-975,03.'l
:~~\~m~r~~~~
I
IMPORTS.
JllXPORTR.
12 months ending
Dec. 81.
1:lmonth.• e11<1,t&o
1891.
1891.
f
1880.
Dec. 81.
18&0,
--.----.----,--
8.985,614 18,270,006 15,839,812 79.:'>17,791 72,17',4ga
lest'wn,Mass 5,144.951 8,38\.l,917 70,304,622 66.058.0M 81,7159,1135 72.500.8(7
Brunswick,Oa
l ,l!ii:~3~
ltl,1175
7.8 :6 6,2·U}.3t16 7,1506.279
s~
:JI~:J&~ M~::i'g19::::J
I~.i-42,99 1
• rnclndin,!? machine1•y, hut not including iron ore; also including the
values already stated separately.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
For tlle
month of mcnths ended months ended
DBCember. December 31. December 31.
GOLD AND SILVIm-COIN .AND BULLION.
825,517
15,042,88tl
74,36,i.8il
l,2Hl,461
186,71}9
8.219,212
48.9~2,757
661,1117
6,8 ;0,032
1,5~8,96~
1,624,964
b,l!IH.875
85,582,589
5,491.095
618,000
1,789,660
15.116,MS
2,210,51~
2,400,iHI
113,435,454
2,03\!,560
8,-1311.476
12,1!49.0Sle
l,8,3,231-
11!4,IJ29,171
against 8823,397, 726 in 1890. The exporta of merchandise were
$970,508,282, against $857,502,1>!8 in 1890, and t e so-called
trade balance was $142,198,636 . excess of exports in 1891,
against $34,104,822 excess in 1890. The gold movement of the
vear resulted in a large excess of exports, amounting t.o
$84,11.8,202.
MEBClLJ.NDISE.
Barley ................. bush. 10.881,461 11,868,414 l l ,8R2,M5
5,078,8!18
do value ................. $
8,07fl,O~
7,723,838
6,62ll,81\I
8.222,598
Books. maps, etohl ogs. &c. $
8,883,416
4,075,HJ3
8,994,070
4,227,40.i
Buttons (except of brass,gllt
or llUk) and OUl t on mold•
8,'710,705
and button mate rials .... . i
8.262,406
:1,207,12~
2,096,411
Cura.rs, cigarettes, &c ... lbs.
1,282,ff19
l,.!50,217
8-<5,l 9
1,158.468
do value ....... . .......... $
8,t:162,1103
8,31-6,8911
8,404,1!56
4, 1 26,828
L,1155.0flA
Ooal, b1tumtnous . ....... ton~
~77,5114
1,151'>,629
9 ·5,il/3
d ,1
do
value . .. .. ,
2.'<41-1.741
3.087,i 60
3.P:.!9.1!45
3.588.~73
Coffee ••••.•.•••••••.••••.• .lbs. 438,645,7'14 578,897,454 49H.l511,l2d 519,f>28 43t
do v11.lue .................. $
tiU,507,630
74,724,882
78,2ti7,48 t
Oo,1~3.777
Cotton, manufactures ofBleached and unbleached,
dye1, colored, btained o r
palnted ... ........ 11q.yds.
27,5611.196
so.sq6,189
27,759.11 41
do
do
val ... $
8,489,145
8,899,294
3,503.241
Hostery,shirts,dr'wers,&c·$
7,140,0HO
6,H78.780
6,389.8ll5
Other manufactures of . .. ii\
19,104,874
16,517,82:-!
19,265,784
Cutlery. valuP . .. .......... $
2.210.~36
l!,8112,537
2,584,4::17
7,o;:;o,;:101
Earthen,stone& Chinaware $
fl,H0,871
6,4711,200
EIJ1\a1ue·:::::::::::.·.·.·.·.~~z$
F ish, value ........ . ..... . ... f
~~· c:~g•.JfJfa.~fs:~'H
Fruits 11nd nuts .......... . ... ii'
27
OOMMBROE.
i;~i!
87
2so.115s
18,.tias
~~~~~'fli ~·~
1J~~:m .8' 181 '~g
Duluth, ~inn .
~lllvest'n. Tex
Kuron , Mich..
57U,2:lli
1,114H
101
39!,418 0,~5>=l.lJ08
156.llri
6&j.4~
g~r:,~~:~~r?.,t
flU:~~
Uetroit, Mich.
181,ll'iO
4s¥,o'25
~~J~!
:::::::.
:~~·;;,!~~~
1
~~! ~f1~~~La
Newp't Ne ws.
New
York,N. Y
~iagara, N. Y. .
Norf'k,Ya.. &c.
Oregon. Orei,:. .
Oswega'ie,N.Y
PugetS'Cl,Wa.
Richm'nd, Va
at. Louts, ..~1,a.
San Fran.,Cal.
Savannah, Ga.
Vermont, Vt..
Willamette,Or
Wllmi'gn,N.C.
~:Jt~::8~ 2.g~C:tM 11,g1~:g=
zi:~~8:~Jg ~:~~gg}
U~i:~~~
2,11;iSl,M U
tl5,\117
l,Oflll,278
2,48~,2115
~::~rn~
,.2iio,-i6; 8.8ifi.Mi
2,1!11,81!1 6.49L.701l 5,422.988
4~. 187 2.071!,174 l.6tll,832
471i,l!tl7 31-1. 183.tt'll S!H,080,014
2,575.2ti8 7.M>,125 9.97.J.1145
iJi:~~ci 1.tbt:m
15.m:~j
4;t~~ di:~iA
10U~~:g~
1.s~Jlt~ !8.7Cii.2°88 21,8~~:e~
115, i.cii.m
11.576 2,152,02:3
122.849
76.240 1 14,)54,611 8838.838
45,8 i 0,4 fH 4il,587,fi01i 521.448. , 77 M0.880,2~.! 18:i?, 182,9/S ; 34,,ti47,8tS4
l98.4.2fl
15.72i 3.05n.4:.l,) :l,940.15'i
111,24=>
b 48,li\18
:J,9- 9 2,734,008
42,7111
1!5,0tSi l:'.i.28K,40i 15.illW.1194
l.8-13
12)l,P,1f>
105,217
l 'l4.4tJ2 I.219.7tt2
757.389
9~.214
75,505 1.SOJ.:itlO 1,!781!,140 1.7114.881 2.1U8.037
1
2
37
2ig~~r
•
4 ,4H.'i H 5,00"7,18,>, 62.431-1,2\11 56.0:'i7.0ll 48.042.!l2 8tl.lm1,5tl7
l'll.R -8
404,4»7
739.0114
6/o!l,'i9i 2,8i4,00Z 2,211H.58S
40, s :;
\J2:1,ll57
66tUOl
86:S.lll:'i 7, 481!,,H:{ t ,021,696
2.2nH 1, t 21 ,274
i 8,403 1
68,160 7,?4 t ,4ol 7.925,7.l.2
24u.OS5
. . . ... ·1 3. 0➔~.~ 5-l 8.540. 7"2
. . •. . . . .
. ....
4,226.1 2\i 4,{l7M,68l 53,825.9 2 45,6ij4,125 48,557,881 85,811!,2S6
112,8F 4.701,1103
472,386
405.817 21!.~63,7JI S0.047,3:d8
361,, 0'
9118,462 4.973,'illJ 6,0-,7. 00 3,81i8.i!4fl 2,701,9'1
10:1.70\ 1,221'.l~tl 1,850,42 2 l,l/48.tS»l 7. rn~,tl75 3.408,880
-~1.8J. ___:~d.tS,51
l:l0-1,145
156,080 6,71a,3&l 8,011,193
~~::go1a.Jia
rrn~
Ph1ladel'a, Pa.
Portld.&c.Me.
~:~~~:~ig
1~.i~::~~ 15,bRg:~~~
·mJA8
;~:~!i
~:~~g~~
UMJ~
T otals, (in•
cludinll al
oth'r llists.) 6Sl,414.655 11993253'2 828.::ll2.ll46 F2'.'l.illl7,726 Sl70.50R.2R~ 857.~02.M!J
Remainin~ in wareboui,e l>ecembPr 31, 1890 ...•••••.•••.••. $39,179,858
Remaining in warehouse Dec mber 31, 1891.. ........ ••. . ••. 29,334,456
a Interior ports to wbi<'h mnchandise can !le transpo.ted without
ap1)iahfmt>1Jt, uu rer ::.1·t of Jm e 10. 1880.
b Incc,mplete. in tbe a ti-n c of law providm,:!"thf' meanP of C'r1lectlng
1b e ft&ti1mcF of e:xJ)<rts to ;;_ojacut 101eign te1fit01y by railrcad cars
and otller lai.d 'i ell.ClU!. I.. L
~ ... ,.
1!1;, :tH j ,
MONEY
THE
QUOTAT I ONS ,
During 1891 the variations of the money market were
far less important in their immediate influence on
:financial transactions than they had been in the year
preceding. At the opening in January there was a
temporary stringency in call loans, but this relaxed
immediately and there was never afterward any real
pressure for money throughout the year ; in fact t he
comparative ease in call loans during the last two
months, when rates are usually high, was the subject
of general comment.
Analyzing the table below, it is observed that the
total increase in coin, currency and bullion in the year
1891 was $36,463,977, and the increase in circulation,
or out of the U. S. Treasury and "in the hands of the
people," wa-s $59,845,786. The national bank notes
outstanding decreased in the year only a trifle over
$4,000,000 and the new legal tender notes, issued for
silver bullion purchased monthly under the law of July
1890, increased $43,236,602.
The coinage of silver dollars from th purchase of
t2,000,000 worth of silver bullion per month ceased on
. July 1, 1891. Trade dollars were coined into standard
dollars as required by the act of March 3, 1891. There
was on hand July 1, 1891, of this trade dollar bullion
4,193,756 ounces, which was all coined i to standard
dollars by Dec. 22.
On the first of January, 1879, at the date of resumption, there was in cfrculation $670,472, 680 in greenbacks and national currency, besides the gold and silver
in various shapes which became then available, making
a total amount of coin and currency estimated at
U,051,420,945. The total increase of coin and cur·rency of all kinds between January 1, 1879, and January 1, 1892, amounted to $697,263,949. The following statement shows the volume and form of the currency at various dates since the resumption of specie
payments, the method of compiling this table and the
reasons for its differing from the figures i sued monthly
by the Treasury Department having been explained at
length in an article in the CHRONICLE of January 30,
1892, page 181.
l,-.,.
COIN AND CURRENCY IN THE UNITED STATES.
Gold coin and bulllon.....
Silver dollars ••••.........
Silver bullion .... . .........
Silver notes.act July J 4. '90
Fractional silver ......... .
National bank notes ... . ..
Legal tenders...... . .. . ....
111711. Jan. 1, li90
,278,!10, 126
22,495,5i50
9,121,417
········
71,021,162
823,791,674
346,681,016
•
690,169,991
34.9,802,001
•10,729,078
........
76,600JU6
197,078,918
346,681,016
Jan. 1, 1892.
---- ---Jan. 1, 1891.
•
'i04,J00,811
876.246.880
~ .175,020
24,0li0,500
?7,638,8U
177,287,846
346,681,016
•
686,845,980
4J.l,543.740
§ ....... .
77,327,102
711,566,lM
178,078.585
846,681,016
Total in United States . . 1,051.420.945 1,671,160,220 1,712.220,917 1, 772,042,52b
Les, etandard sliver dol lars coined from bullion purchased
1884-1891. .
Taking a retrospect of the course oi the money market since 1870, we find that an extraordinary stringency
in money first began in October, 1871, and continued
with lit tle intermission for nearly two years, until the
financial crisis of September, 1873. But although the
construction of railroads in 1810-83 far surpassed that
of 1870-73, there was no stringency in money and the
financial crisis of May, 1884, was not preceded by any
cautionary signals in the money market. In the years
1886, 1887 and 1888, when railroad construction and
other industrial and speculative enterprises called for a
very large amount of money, there was never any severe
and long-continued stringency in the money market,
and not until the last half of 1889 was there much difficulty in getting call money in New York. Then followed 1890, when call money became very stringent in
the lat ter part of the year, and · as early as _A ugust
reached the extreme figures of 25 per cent a year and
even i per cent a day in some cases. The Treasury
purchased bonds freely, and particularly on September
17, in a special effort to relieve the money market,
accepted nearly $17,000,000 of 4 per cent bonds at 125
to 12'3¾. But the relief was only temporary, and rates
soon ruled again at high figures till the climax was
reached in the November panic, which culminated with
the embarrassment of Baring Bros. & Co., announced
on the 15th.
Among the principal acts of Congress since 1877
affecting the currency were the act of February 28,
1878, directisg the purchase of silver bullion to the
amount of $2,000,000 to $4,000,000 per month and its
coinage into legal tender dollars, which was in force till
J u]y 1, 1891 ; the act of May 3, 1878, prohibiting the
retirement of greenbacks, silver certificates, &c.; the
act of August, 1886 (embraced in the Sundry Civil
Appropriation bill), authorizing and requiring the Secretary of the 'rreasury to isaue silver certificates in
denominations of one, two and five dollars ; the act of
July 14, 1890, required the Secretary of the Treasury
to purchase 4,500,000 ounces of silver per month, and
issue Treasury notes therefor redeemable in coin, and
being a legal tender for all debts "except where other,, wise expressly stipulated in the contract." (The text
of this law was given in the CHRONICLE of July 12,
1890, on page 41.) The act of March 3, 1891, directed
the coinage of trade dollar bullion into standard silver
dollars, which was carried out after July 1 of that year.
The gold value of the silver dollar (based on the price
of silver in London) for each calendar year from 1873
to 1891 inclusive, is subjoined.
.. .... ··········
GOLD BULLION VALUE OF SILVER DOLLAR.
28,857,634
··•· ·••
Highest. Lowest. Ave'p;e Years.
Highest. Lowest. Ave'ge
1,061,d0.741'.i 1,671,ld0.220 1,712,220,917 1,748,684.SPi Years.
1873 ....... $1 ·016 $0·981 $1·004 1883 ....... $0·868 $0 ·847 $0·858
under act of July 14.. 1890..•..••...
Of which-
MARKET.
....
.......,.... ..,..,.,,..1 .........,. •..........
1874. ...... 1·008
1875..... .. ·977
·991
Total as abovP. ..... . .... . l,051.420,94J 1,671,160,220 l,712.220,91'i 1,748,1184.89' 1877.... .. . ·987
1878....... •936
1879... .••. ·911
Thie includes trade dollar bullion held 1n the Tre&8Ul'.f:
1880. . .. ... ·8P6
§ A)~ trade dollar bullion has been (IOnverted into stal\dtl,td dollars. 1881..... .. ·896
tbe corna6 t, Ll:t, ing Leep com:plet~d :Ptc. ii, l.!!!l:>l, ~
-" -·-·
188~, . ,., , , ·ijb7
In Treasury ............... .
ln bands of people ....... .
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
827,716,569 1,480,909,,60 1.528,985,948 1,088,781,729 1876...... .
•
·1170
·941
·792
•902
·839
·828
·875
·862
·847
·988
·964
·894
·929
·891
·868
·886
·881
. 78
1884.......
1885... . ...
1886.......
1887.......
1888.......
1889.... . .•
1890.......
1891 (e~t.~.
·871
·847
·797
·799
·755
·752
•926
·8~tS
·839
·794
·71~
·733
·706
·712
·748
·~3~
·861
·823
•769
·758
·727
·724
·808
·16-l,
MONEY .M.AR.KET.
QUOTATIONS FOR CALL LOANS AND COMMERCIAL PAPER.
(Quotations are compiled from the range of prices each week in the New York money market.)
1884.
1888.
I
Prime
_week ending
Call
Paper. ' Friday.
Loans.
5 @6
Julyll ..••.••. 1 @ 2111
4 @6
" 18.. •• . •• .
½@2lg
4. @5¼
" 25.. •••• ••
¼@ 2
4 @5¼ Aug. 1.... •••.
12@ 219
4. @512
"
8..... ... 1 @ 2
,,
8 ••.. . ...
4 @512
" 15........
lgcl) 2
4 @5¼
" 22........ 1 @ 3
" 15 ......•.
4 @5¼ , " 29 ........ 1 @ 3¼
" 22 .....••.
., 29 ..... . .. .
4 @512 Sept. 5.. .. . ... 1 @ 2
4 @514
" 12........ 1 @ 3
~foh. 7 ....... .
4 @514
" 19...... .. 1 @ 2
" 14 ......•.
4 @514
" 2ti........ 1 @ 3
., 21 .. ..... .
4 @514 Oct. 3.. .. .... 1 @ 3 .
" 28 ....... .
4 @514 " 10........ 1 @ 3
A.pril -! •.•...•.
4 @5¼
" 17 ........ 1 @ 2
•• 11 ...... . .
4 '@5lg
" 24........ 1 @ 3
" )8 ....... .
" 25 ....... .
lg·@ 4
4 @5¼1 " 31.. .. ... .
4 @519 Nov. 7........ 1 @ 3
May 2 ....... .
4 @512
° 14.. ... ... 12@ 2
"
9 ••••..•.
4 @512
" 21.......
I.a@ l lg
" 16 ....... .
4 a6
" 28.. . . . . . .
¾rm 212
" 23 ....... .
5¼@6
Dec. 5........ 1 @ 3
" 30 . . ..... .
5¼@6
.. 12 .. _.... .
½!'ii> :l
June 6 ...... . .
,, 13 ....... .
5¼'@6
" 19........ 1 1f) 119
:'llg@6
" 26........ 1 w 112
" 20 ...•....
5lg'@6
" 31 (4 dys) 1 @ 112
" 27 .....••. 1 ·@18
1
July *· ······· 1_@_6_ _,5_19.c._@_ 6_ 1
• And 3 per diem.
t And -41 per diem.
Wee1e ending
Frlday.
Jan. 4(3d'ys)
., 11 ... ...•.
" 18 ....... .
" 25 .....•..
Feb. 1. .....•.
Call
Loans.
l '@ 3
1 @ 2¼
1 @ 2¼
1 @ 212
119@ 3
1 @ 2¼
1 @ 2¼
1¼@ 2¼
1¼@ 219
1 @ 2
1 '(Z) 2
112@ 212
1¼@ 219
112'al 212
112@ 2
112'@ 2
119@ 312
112@ 312
112@ 6
1¼@ 5*
1. 1b 6 t
1 @ 8
1 '@ 4
1 @ 3
1 @ 3
Oall
Weekending
Friday.
Prime
Paper.
Loans.
------1-----1
Jan. 6 ...••••. 3 @ 6
5¼1i>6¼
" 13 .••..••.
" 20 ••••....
" 27 ..•.•••.
Feb. 3 •.•••••.
" 10 •••.•••.
" 17 .•...••.
" 24 ......•.
Moh. 2 • • ••••• .
.. 9 ••••.••.
" 16 ••...•..
" 23 •• ...•• .
" 30 •••.•••.
April 6 ...... ..
" 13 •.•..••.
" 20 .••..•..
" 27 ...•.••.
May 4 ••••.••.
" 11 ....... .
" 18 ...... ..
" 25 ..••••••
June 1. .•.....
:: 1t:::::::
3 @
3 @
1 @
2 @
2 @
2 1i>
2 @
2 @
2 1dJ
2 @
l¼@
llg1i>
112@
1¼@
112@
112@
l¼ill
l¼@
l @
l @
1 @
l •@
1 @
1 @
l @
5¼1li6
5¼@6
4341b5¼
434@5¼
4lg1JJ5.
4¼1i>J
21!, 4¼'2:5
5
4¾@5'4
3
4341b5lg
3
4lg1i)5lg
3
4¼1i>6
6
5 @6
fl
5 @6
3
5 @6
3
5 @6
4¾@5¼
4
3
4.¾@5lg
3
4~'@5¼
2
4½@514
2
4 1i>5
~
4 fD!',
2
4 @5
2
4 '@5
2
3¼@4½
2 _ _3~@4~
5
4¼
4
31!,
3
3
.
Jan. 9 .....•..
16 ...••••.
23 •••••••.
,," 30
••••••••
Feb. 6 ••••••••
13 ........
........
,," 20
27 ........
Moh. 6 ........
13 ........
, 20
........
" 27 ...••••.
April 3 ....... .
" 10 ... .....
17 ........
24 ••••••••
"
M~y 1 ........
8 ... .. ...
15 .•••••••
22 •..•••.•
" 29 .•. .•••.
J une 5 ••••••••
12 ...••••.
19 .•.•••••
26 ••.•••••
"
J uly 3 ••••••••
.
...
..
..
..
Call
Loans.
¼'ib
lg'@
1 @
¼@
lg'()
12'@
1 1lJ
1 '{])
1 @
1 'i/J
12@
¼ill
lg@
lg@
½<b
1 '@
1 '{])
1 'a)
¼@
¼@
1 'ii)
1 •@
Prime
Paper.
l¼
1¼
4
llg
2
¼@ llg
¼11> 1¼
1 @ 1 lg
1 'iii 2
@512
4. @5
4,
4
4
@5
Call
Loans.
.
17 .•.••••.
24 .•••••••
" 31
...•• ••
"
Aug. 7 ..... . ~
" 14 ........
..••••••
" 21
" 28 ..•.•••.
Sept. 4 .••••• •.
11 .... .••.
" 18
... .....
"
25.
"
2
..
::::::
Oct.
,;
@5
4 1:5
4 @5
4 '@5
4 '@5
4 @5
4 '@5
4 @5
3lg'al5
312@4¼
9 .••••••.
3¼@-1¼
.••..•• .
" 16
:~lg11)4lg
23
.•..•••.
"
1
3 211!'1
" 30 . ......
312@4
Nov. 6 .••• .••.
319@4
" 13 ..•.•••.
3¼@4.
20 ..••.•• .
" 27
3¼1o4
........
"
314'@4
Dec. 4 ...•.••.
314@4
11 ........
"
3 @4
18 ... . ....
,," 25
3 '@4
.•...••.
3 '@!
31 ........
.
Prime
Paper.
3 @4
¼it> llg 234@4¼
lg'@ 2
234@4.14
234@4¼
1 'O) 2
284,'@412
l @ ~
1 @ 2
234 t114lg
l '{]) 2
3 @4¼
3 @4113
1 @ 2
1 11) llg 3 @4lg
1 '{]) 112 j @4¼
1 '{]) llg 3 @419
1 '@ 3
3 @4113
1 'a) 3
3 @4113
1 '@ 3
3 @4¼
1 '@ 2
3 @4¼
llg@ 3
4 @4113
1¼@ 4
4 'tt419
1 @10
4 @4:is
1 12@ 3lg 4 @5
2 'a) 4
4. '@~
llg@ 4
4 @5
2 '{]) 3
4 @5
1 '(l) 3
4 @5
llg@ 2¼ 4. @5
llg@ 6 , 4 @5
2 '@ 5
4 @5
1886.
Weekending
Friday.
Call
Loans.
Primo
Paper.
Weekending
Friday.
Call
Loans.
Prime
Paper.
- - - - - - - - - - - - - 1 - - - - -- 1- - - - - 1 - - - Jan. 8 .... ... .
'' 15..... .• .
" 22 . .. . ... .
" 29 ........
Feb. 5 .. . .....
•• 12 ........
.. 19.. ......
" 26.. ....•.
Mch. !'>.. ......
•• 12.. ......
" Ht ........
" ~6.. ... ...
April 2 . ....•.
"
9.... ....
:: 2J6_~.· .··. ·• •··_·_·.
,
" 30........
May 7 ........
" 14 .•.•....
1 .... ::·.·.·.·.
8
June 4 .. . .... .
" 11. .....•.
•• 1.8 ......•.
" 25. ... ....
July 2.. ... ••.
>:: ~
1 ?
1 w
1 @
1 @
1 @
1 @
1¼@
l¼@
1113@
l @
llg·cl>
1 ¼@
11£@
1 •d)
119@
llg'ii>
112@
1 @
1¼@
llg1i>
1¼1i.>
llg'@
1 @
l @
1 @
1 a
4 @5
~
3
3lglb5
3
3¼'@5
2
319@5
3
3¼'@5
2
314'a)5
4
a @4¼1
219 3 @4 4
4
:l @-114
2lg 3 @4¼
4
3 @412
4
3 @5
5
3½'@ 5
3
319@5
2'lg 3¼1i.>!'i
4
3¼1i>5
4
3lg@5
5
3½@5
3
3½@ '11i!
2¼ 3½@412
7
3½~412
3
3½@412
7
3¼@412
6
3½1i>4½l
3
314@4
9
314@'1
J~}Y
~ ........
1 '@ 3
lfl.... .... 1 @ 3
., 23. . ...... 1¼@ 4
" 30 ........ 1121i> 3
Aug. 6........ 1 ~1i> 6
" 13 .. . ..... 2 @10
20.. ....•. 3 @20
"
27.... .... 2 @ 8
Sept. 3 ........ 2 @ 8
•• 10........ 1 @ 7
" 17 ...•..•. 4 @10
" 24.. ... .•. 3 @ 7
Oct. 1.. ...... 4 @15
.,
8........ 3 @10
" 15 ........ 2 '@ 7
" 22 ........ 2 '@ R
" 29.. .. . ... 2½·ill 6
Nov. 5.. .. . . . . 4 @ 7
" 12 ......•. 4 @ 6¼.
" 19.... .... 3 '@ 7
" 26 ........ 412@ 9
!Dec. 3 ........ 15 '@ 9
" 10 ........ 3 '@ 9
" 17 ......•. 4-10+12p.d.
" 24........ 2 @ 8
. " 31........ 3 'a> 8
I ..
3't@4.
314'it4
314@5
3¼@514
3lg@51'
414@0
5 @6
5 @6
5 @6lg
5lg@ti¾,
5¼@6
5lg'@6
5¼'@6
5 ½@6
5¼·@61!,
6 @6¼
6 @6lg
5¼1btt¼
!'\111@6¼
519@6¼
5 '@6lg
5 @6¼
519@6¼
5¼W6lg
6 @6lg
5 @6¼
188?'.
Weekending
Friday.
Ca ll
Loans.
Prime
Paper.
--------Jan. 7 ........ 1 ? 8
5
14. •......
" 21. .. .....
" 28 . .... ...
Feb. 4 .....•..
•• 11.... ....
" 18........
" 25.. .. .. ..
Moh. 4.... ....
" 11.. ... .• .
" 18........
" 25 ........
April 1.. ... ...
"
8.. •. . • • .
" J 5 .••.. -··
" 22. . .• . ••.
" 29.......
M~y 6 .... ·.·..·••·•.·
13
" 20 .....•..
" 27 .•..•••.
June 3 ...•.••.
" 10 .•• •.••.
" 17 .•••.••.
24 .•••. ••.
July 1. .•.....
U
@612
6
5 @6
2 ft 6
5 '@6
2¼@ 5
5 @5¼
2lg'@ 5
4¼@5¼
3 '@ 5
4lg@5
112@ 4¼ 412@5
2 @ 5
4¼'2:5
2 @ 7
4¼@5¼
2 'al 7
5 @512
3 @ 7
5 '@6
2¼@ 8
5 @6
a @ 9 5 @6
3¼@15
f> @6
3 ·@ 9
5 @6
3 @ 6
5 @512
2¼@ 7
5 @5½
3 ·@ 8
5 @5½
3 @ 7
5 @5½
3 @ 6
5 @5¼
3 @ 8
434@5½
4 @ 7
4¾'l»:-i1il
3 •@ 5
4¼1i>514
2 ·@10
-l¼@514
31ll6+ 3a pd 419@1'>12
3@6+14p.d 5 @6113
0
W
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
July 6. ••• . ••. 1 @ 2
3 @4¼
" 13........ 1 'ii> 2
319'17!419
" 20 . •. . .••• 1 @ 2
4 @419
" 27 ....•••. 1 @ l'lg 4 @4:lg
Aug. 3 ........ 1 @ 1¼ 4 @419
" 10.. .. .••. 1 @ 1½ 4 '17!4¼1
" 17.. ...... 1 @ 21!, .J. @4¼
" 24..... ••• l¼@ 2
4 @5
" Zl. ....•.. l½@ 2
4 @5
Sept. 7 ........ 112@ 4
4¼@51t
" 14. ....... 1~@ 4
41!,@6
" 21. .. . • •. 2 @ 4
5 @6
" 28 . . ..••. 1¼1i> 4
-1¾@6
Oct. 5.. .. . ••. 112@ 5
4¾@5¼
" 12 .....••. 2 @ 5
4¾@5¼
" 19........ 1¼1i> 3
434@5¼
" 2fi •••...•. 112@ 21g 434'@5¼
Nov. 2 .... .. .. 1¼@ 21g 4¼1t5¼
"
9........ 112@ 2¾! 4¼@5
" 16........ llg@ 3
419@5
" 23.... .... ~ @ 4
4¼@5
"
30.. .. •••• 2 @ 4
4191i>5
Dec. 7 .. .. . •• . 2 •@ 4
412'lb5
" u......... 2 @ 6
4¼'11>51.&
" 21. •••.••• 2 @ 6
4¼@519
•" 28 .•.•_._
••_._:_3_@_8_ _5_@_5_¼_...
i!!t&:,.
Week ending
Friday.
·119 4¾!@5lg JulylO .••••••. 1 @ 2
2
2
1¼
1¼
2
2
3
2
2
1113
2
2
Ilg
3¼
11!,
Ilg
Call
Prime
Loans.~ Paper.
" 22 .....••.
" 29 .•••.••.
• December 31 call loans reaoh~d 10 J;>er cent.
1883.
Weell:ending
Friday.
Weekending
Friday.
J an. 4 ...•.••.
" 11 ..•..••.
" l25i:! ••••....
" 1 ....•••.
F
...•.••.
8 •.•••••.
••...••.
" 15
" 22 ••••.••.
M oh. 1 .....•..
8 ••...••.
........
" 15
92
" 29 ......•••.
.. .. .
"
A pril 5 .. ...• •.
" )2 ..•.•••.
19 ......•.
26 ••..•.••.
3 @10
3 'ii> 6
2 @ 5
3 @ 6
3~@ 6
3 @ 8
3 @ 7
3 @ 7
3 @ 8
8
@
'@
8 @
4 @
3 @
3 @
212@
3 @
3 @
3 @
3 @
3 1i>
2 @
:l
4
4
4
4
'@
@
@
@
7
7
7
7
6
5
5
6
5
7
6
7
7
6
5
6
7
5¾!@6¼
6 @61!,
6 @6½
6 '@ 6lg
6 '@tilg
6 @6½
6 @6lg
6 @7
6 @7
fl @7
6 @8
6¼@8
6 '@8
6 @7
6 @7
6 @7
5¼1JJ6¼
5lg'l:l'6
5¼!@6
512@6
512@6
5¾!@6¼
5¼tb6¼
5¼11>6¼
5¼@619
Prime
Paper.
Call
WLoans.
4
@ 8
419
@ 3
l¼i'b 212
llg@ 4
2 @ 5
1 '{]) 2¼
1¼@ 2
l¼@ 3
1 'ib 6
l¼@ 3
2 ·@ 3
2 @ 6
1¼@10
3 @ 5
2 1lJ 5
112@ 3
2 @ 4.
M
~y 1g:::::::: llg@ 3¼
1¼@
17 ........
2¼
" 24
........ 11!,@ 3
" 31 •.•.•••.
2 '{]) 4,
J une7 .•...••. llg•@ 4
14 ........ 2 '{]) a
21 ••.•.... 2 @ 4.
" 28 ........ l¼@ 6
,. 40 per cent was pa.id
2
2
'{])
~P·
..
..
"
..
Weekending
Friday.
Call
Loans.
2 '@ 7
219·@ 6
2½@ 3¼
2 11) 3
2 @ 5
9 ........ 2 @ 5
2 @ 5
" 16 ....•...
..•.•••• 3 '@ 6
" 23
" 80 ...•.••. 2 @ 6
Sept. 6 .....••. 2 @ 6
" l!l ......•. 2¾@ 5
...
3 @ 6
" 20
" 27 •.• :::: 4 @10
Oct. 4 ........ 3 @30
........ 3 '@12
" 11 .•..•••.
5 @12
" 18
3 @12
25
" 1 ••....•.
Nov.
........ 4 @12
.. .. 1 1i) 7
" 158 ....
3 @ 8
" 22 ........
......•. 1 @20
" 29
...•..•. 3 1i>15
"
Dec. 6 .••..••. 3 ·@ 15
....•••. 1 @15
" 13
. ..•.•• . 2 '{]) 8
" 20
27 ....
5 @~0*
5 @512 July 5 ........
4¼@512
", 12 ........
19 .. .. ....
4 1i>5
4 @412
" 26 .. ...••.
4 @4lg Aug. 2 .... ••..
.
4
4
i
-1
4
@419
@4lg
'2:4¼
@4lg
@4¼
4 @f>
4141i>5
-114@5
4 @5
4 @5
334'@5
3341i>414
3¾1b4.
3¼@4113
3lg@4
3¼1i>4
3lg~414
3 @4¼
3 @4¼
3½-W4lg
3½iib4'~
.
.
Prime
Paper.
@5
3¼@5
3¼@5
4 '@5
4 1i> .'\
4¼@5
412@534.
434@6
4341'6
4
419@5¾
514@1'>~
5 @519
5 @5lg
5¼1i>61ii
5½Wfl12
!'ilg@6lg
5¼@61g
5¼1t6lg
512@61.g
5¼@6lg
5'lg'@ij:lg
5:lg'@61t
5lg'17!6¼
6 @6¼
5¼@6111
Fl34@6¼
Dec. 30.
18f.0.
·kend'g
Friday.
Call Loans.
11..
18 .•
512'@6
" 25
..
5 '@6
"
5 @5¼ Aug. 1. .
..
8 •.
5 @519
..
5 @51g
" 15
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MOVEMENTS UF GOLD AND SILVER.
UNITED STATES AN:0 EUROPE.
GOLD AND SILVER PRODUCTION FOR 1891 eludes the entire district where the gold and silver of
AND PREVIOUS YEARS.
the United States are procluced.
The production of the precious metals in the United
States cannot be given with exactness at this date.
Until the Mint makes up its figures no returns are procurable except those Mr. Valentine, of Wells, Fargo &
Co., furnishes. This week that useful annual statement has been issued. As our reader s know, these
compilations have always been based upon the transportation movemen t; but now, as l\1r. V alentine states,
the greater facilities afforded by the extension of railroads into the mining distric ts have so increased the
difficulty of verifying reports from se eral important
localities, tispecially from Colorado and Montana, that
he does not claim accuracy for his figures. The aggregate results he remarks may be relied on with reasonable. confidence as approximately correct, adding however that "statistics gathered in this way are liable to
"be exaggerated." His totals for gold, silver, copper
and lead for the calendar year 1891 are subjoined.
l'RODUCl' OF GOLD , SILVER, LEAD .A.ND COPPER.
----c-----.--------18 9.
1 9o.
1 891.
t88S.
$
$
$
$
California...... ...... 12,063,468
12,842,757
11,761,114
12,215,233
Nevada .•.... . .....•. 12,805,603 11,908,961 9,240,53fl 8,745,611
Orf'go.n .••...•. .••. •.
701,566 785,361 1,036,000 1,088,000
Washington... .... ..
124,112 217,ooo
27n,ooo
329,ooi,
Alaska.... . . . . . • . . . • .
8211,000 f<45,t,O0
762,S, 11
850,000
Idaho........... .. .. . s,685,t,00,17,344,(-,oo 1 13, ~4,500 11,5~5,oo,,
Montana. ......•.... . 32,376,000 31,726,923 34,:H4,955 28,<ill,uo ,,
Utah................. 7,557,241 9,830,013 12, !59,175 13.408,4.'-'3
Colorado. .. ....... . . 26,71'>5,500 2t!,074,8"'8 27,275,4.'17 28,203,03 ,
New Mexico.... . . . . . 3,209,279 3,937,677 4, "58,985 4, 23.,,7w
Arizona.... .•.•.• . .•
5,123,868 5,803,027 7,597,349 5,576,15,
Dakota.... . ... .... .. 2,948,932 3,407, l 77
3,04.5,36v 3,422,tS 71
Mexico(W.C'stSt'tes) l l,106,623
512,2881
....... .
... ...
Texas................
. ....
.... . ..
249,423
264,423
Brit1sb Columbia.. ..
479,400 442,164
361,555
290,876
Total ..•....... .. 114,341,592 12767783G 127,166,uo us,237,441
- - - - - - -0
8tatesandTerrit_?rtes.
These data include arrivals from British Columbia
for all years, and also arrivals from t he West Coast
States of Mexico for all except the last two years, but
none of the figures include States east of the Missouri
River. As previously stated,• they likewise represent
gross results, that is, the total of gold, silver, copper
and lead; segregated, we arrive at the yield of each
metal in 1891, approximately, as follows, the percentages a]so being given.
Per Gent.
Gold....... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
silver ..... ... . .. . .......................... 51
Copper. ·• -• • • · •·· • • • • • • • • • • .... • •·· •· • ... .. 11
10
Lead . · · · · · · · · · · • · · · · · · · · · · · · · · · · · · · · · · · · · ·
04 100
2a 100
22100
48100
Amount.
$31,975,994
60,614,004
13,261,663
~~,:>S 5 , 780
$118,237,441
Deducting from the foregoing result British Col umbia, we have left that portion of the U ited States production which comes from the "States and Territories
west of the Missouri River." For fourteen years, since
1877, Mr. Valentine's figures for the same district are
given belo .v. We would add that the States east of the
Missouri River in 1890 (according to the Mint report
for that year) only proq.uced $448,500 gold and $82,487
of silver.
Consequently, the following practically in.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
,--$-
PRODUCTION IN STATES .A.ND TERRITORIES WEST OF MISSOURI RIVER.
Lead.
$
l
Copper.
Silver.
--$--
Gold.
$
1878 . .. . .. . ... . ...
1879..............
3,452,000, .. ...... ......
4,l F- 5,769 .. ... . . ... , .
37,24,8,137
37,032,8fi7
37,576,030
81,470,262
1R82 .. . . .... .. .. .
188::I ........... ..
8,008,155
8,163,!'150
6,1<3 I ,09 1
8,562,991
4 8, 133,039
42,97fi,1 01
29,011,318
27,816,640
25,183,:'167
2 6,393,756
29.561,424
1880
1881: :::::::::::::
l ~R4 .•. . . ...••. .
5,742,890
6,361,902
89~.ooo 3R,03R,055 32/ir>9,067
1,195,000 42,987,tilS so,653,959
4,055,0'~7
5,6R3,921
~,086,252
7,838 ,036
43,529,P2 ci
1885. ... ........ .. 1
44,516,599
188~... . . .. . . . ....
9.185,192 9,276,755 52,136,8!'11
18~7..... ....... .. 9,631,073 10,362,746 50,~33,88t 32,500,067
1888.... .......... 11,263,630 18,2f\l ,490I 53,152,747 29,~87.702
1884. ... .. .... .... 14,593,3231 14,793,763 64,808,637 32,527,661
1890 ..... .... .... 11,~-09,571 20,569,092 62,930,'131 31,795,361
1891...... ....
12,385.780 13,261.663 60,614.0 ·4 31,6'-l'i,l 18
For a complete understanding of the silver values
given in the above, it should be added that the silver is
estimated at 98 cents per ounce for 1891 and at $1 04
per ounce for 1890; consequently, stated in ounces the
silver production, according to Mr. Valentine's report,
must have been 61,851,102 ounces in 1891 and 60,510,414 ounces in 1890. It will be remembered that the
output of silver in ounces given by the Mint for 1890
was 54,500,000 ounces, or 6 million ounces less than
Mr. Valentine's estimate for that year.
Unfortunately the Mint returns of production of the
precious metals for 1891 cairnot be presented as yet.
Director Leech is always very prompt with his report.
Last year it was only February 26 when he transmitted
t Congress not only the output of the United States
mines, but the other data and compilations which he
prepares with so much care. When we remember how
l
th ffi · 1 f 11 h
·
·
k
very s ow e o Cia s o a ot er countries are 1n ma •rng pu b].1c s1m1
• •1 ar re t urns, an d h ow rncomp
·
l et e an d 1n·
exact they acknowledge their figures to be even when
they are given out, the United States Mint Department
would seem to be beyond criticism. But statistics to
be of the highest util1ty, that is of use in a practical
busirn~ss way, must be fresh. The circumstance that
Mr. Valentine's figures always have appeared early in
January has had great influence in increasing and keeping up public interest in them. The merchant and
manufacturer directly or indirectly engaged in foreign
trade is finding it more and more essential that he
should acquaint himself with the current supply and
movements of gold and silver for any correct forecasts
of his business. So also in the leading discussions·of
the day the production of the precious metals, especiall y in the United States, the greatest producer,
holds a highly important place. ]for all these reasons
it has become of late years very desirable to procure information relating to production as early as practicable.
This fact led us to telegraph this week to Mr. Leech,
the Director of the Mint, for an approximate estimate
of the totals which his forthcoming report will contain. He very kindly replied by telegraph that he
could give no estimate, as he has nothing to _base an
estimate upon except general information. He thought,
however, that there would be but little change in the
MOVEMENTS OF GOLD
gold product. As to silver, he says there has undoubtedly been a large increase of the output in Colorado
and Idaho, and a falling off in Montana and Nevada.
Just what the net of these differences will show when
the figures are made up it is impossible, he says, to
state. He adds, however, it is generally. believed that
the increase in the net product of silver will reach five
million ounces. If one may accept this general view
of the yield of silver as approximately correct, and if the
gold be estimated the same as last year, the results for 1891
will not be very far from Mr. Valentine's totals. Of course,
however, no one will assume that the suggestions
of Director Leech are based upon actual returns, for he
says be has received no reports as yet. '11 he subjoined
statement for the years 1878 to 1890 inclusive gives the
Mint's estimated production of both gold and eilver
each year in ounces, and also gives of silver the commercial and coining values.
UNITED STATES MINT'S ESTIMATE OF PRODUCTION SINCE 1877.
Pronnot10n U.S.
Gold
Fine
Ounces.
I ----·--·-
I
Silver.
·
Value
Fine ICommeroial
Ounces.
Value.
·
$
1878 ..... 2,476.800 51,200,000 34,960.000
1879..... 1,881,787 38,900,000 31,550,000
1880..... 1 1,741,500 36,000,000 30,320,000
1881..... 1,678,612 34,100,ooo;ss,2ao,ooo
1882..... 1,572,187 32,500,000 ,36,200,000
1883 ..... 1,451,250 30,000,000 35,730,000
1884..... 1,489,950 30,800,000 37,800,000
1881'>.. ... l,538,325 131,800,000 39,910,000
1886..... 1,693,125 135,000,000 39,440,000
l887..... 1,596,375 33,000,000141,260,000
1888 ..... 1,604,811 133,175,000145,780,000
1889 ... .. 1,587,000 32,800,000 50,000.000
1890 ..... 1,Q88,880,32,~45,000 54,500,000
1
.
Coining
Value.
$
$
40,270,000
35,430,000
34,720,000
37,850,000
41,120,000
39,660,000
42,070,000
42,500,000
39,230,000
40,410,000
43,020,000
46,750,000
57,225,000
45,200,000
40,800,000
39,200,000
4s,ooo,ooo
46,800,000
46,200,000
48,800,000
51,600,000
51,000,000
53,350,000
59,195,000
64,646,464
70,464,645
.AN
PRODUCTION OF GOLD AND SILVER IN MEXICO.
' Mexico's Produoti~n.:_ _ _o_o_Id_.__
1877-78...................
1878-70...................
U!79-80.......... . .••..••.
1680-~l., •.. ·•••••••••·••·
1881-82 .. ·· -····· · · .••. .•
lflSi-83. .. . •• . • .•. . •.. . • • .
1883-84. ···········--···· ·
ll-!84-85.. ..••...•.••• . ..•
1885-86.. ...•.. .•.. ••.....
1886-87 .•. ······- ··••· .•.
18~7-~B....... ..•.. .. . ... .
1888-89...................
1881:J-UO ••..... . .....•.... · 1
1890-91........ ......... •.
- To_~·-·····-·•······- ·
l
$i47,000
881,000
942,000
1,013,000
937,000
~56,000
1,05!5,0001
914,000
1,026,000
) ,{)47,000
1,031,000
1,040,000
1, ! 00,000
1,150,00u
Silver_._ _ Total_._
$.!4,837,000
25,12 5,000
2ti,~OO,OOO
29,234,000
.:9,3 29.000
2 9,569 ,00f\
31,695, 00
33,226.000
34,1 l2,001
34,600,000
34.,9 12,000
40.70tS,OOO
41,500,000
43,000,00 •
$25,584,00tl
26,006,oOO
~7,742,0 0
30,2-17 ,l 00
30,266,000
30,525,000
3:l,750,0 0
34,140,000
35,188,000
35,647,000
35,943.000
41,746,000
42,600,000
44,150,000
- ------ ------
$13,839,000 $458,645,000 $472,484,000
For Australia the official reports are quite imperfect
and not furnished with any degree of promptness. So
far as the product of silver is concerned the officer in
charge of the Mint at Melbourne does not attempt any
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
91
full report. Mr. Hayter, Government Statist of Victoria, gives a compilation, but does not bring the totals
down later than 1889. We shall refer to the silver
production shortly. As to the yield of gold, the total
for 1890 does no:; prove to be as large as the total for
1889. This is due in part to a continued falling off in
Victoria, but mainly to a smaller result in Queensland.
There was an unusually large increase in the gold
Indeed,
product of th:s latter colony in 1889.
Queensland has shown a constant growth since
1883, when the product was only 212,783 ounces; in
1884 it was 307,804 ounces; in 1887 it was 425,923
ounces and in 1889 it was 739, 103 ounces. In ·1890
the Melbourne Mint report makes it only 610,587
ounces.
Very possibly this estimated large falling off may be found by later returns to be
an error.
At all events as our information
now stands the total gold product in 1890 for
Australasia appears to be only 1,599,350 ounces against
1,745,570 ounces in 1889, or a value of £6,019,442
in 1890 and £6,544,190. iu 1889. The full report
in ounces and in values (each colony being stated separately) iQ given below. The first two co1umns present
the total gold product from 1851 to 1889 inclusive, the
·next two the production in 1890 and the last two the
aggregates for the whole period.
PRODUCT OF GOLD IN AUSTRALASIAN COLONIES,
1851 to 1890.
Colony.
E,ttm~t•
Quantity.
In our final compilations of the world's production of
the two metals to be found at the end of this article, we
do not follow the Mint figures back of 1880. Prior to
that date Mr. Valentine's reports were always received
by the trade and undoubtedly were the more reliable.
For instance, the foregoing Mint estimates of goM production for 1878 and 1879 were no doubt exaggerations,
. the Mint figures for those years aggregating $90,100,000,
while Mr. Valentine's figures were only $69,046;292.
AH the known facts point to the much closer approximation of the latter total.
As usual Mr. Valentine has likewise included in his
1891 report the production of Mexico. According to
these returns the Mexican results for 1890-91 show further material expansion in the yield of silver. This
forwa1·d movement, the circular states, is owing in
great measure to the liberal and friendly policy of the
Federal Government of Mexico, which has afforded
enterprises of the kind every reasonable encourage:rr,.ent. The prospects for the future, it is added, are
also very bright. As. to gold, the output does not
progress materially, the total being only fifty thousand
dollars larger than in 1891. We give the returns of
both gold and silver for the last fourteen years.
SILVER.
Victoria ... ..
N. So.Wales.
Queensland ..
S. Australia•
W. An,traH•
I
Durin§t 1890.
Estimat'd
Quantity.
Valuo.
Oz.
.£
511,2:'i 0,798 225,003,192
10,092,Mt; 87,6l4,88'i
6,827,888 ~8.897,f308
278,4-U 1,068,1\11
18M9'
518,b711
----
Total since 1850.
Value.
Oz.
5&'1.560
127,4fl0
tH0,587
24,831
84,209
Total of Austre.lla... ... . 78,5i9,97.1 28F,102,749 1,SF!5,647
20,510
Tasmania... .
565,222 2,161,Mgl
New Zealand 11,625,028 45,652 101
193,193
Total of Aus• - - tralasla.....:..:.: _85,770,225 385,900,509 1,599,350
• Including Northern Territory.
---1
.£
2,85-t-,24U
4tl2,050
2,137,054
91.502
129,994
Estlmllt'd
Quantity.
Value.
.£
Oz.
56,839,858 S27,857,482
10,219,816 88,076,937
7,438,475 i6,084,662
298,2i2 1,159,698
169,701
648,865
---
I
5,174,840 i4,9tffl,ll22 299,277,589
76,887
085,782 2,2!i,456
768,716 ll,818,221146,4\?0,G06
6,019,442 87,369,575 341,925,961
In the foregoing the ounces as well as the values ara
given. Mr. H ayter says the purity, and consequently
the value, of gold ounces varies considerably in different localities. In Victoria the average value is set
down at £4 · per ounce and in Queensland at £3 10s.
per ounce. Any one desiring to have the record of
ounces for prevfous years stated separately can find the
figures by examining our previous annual reports. · To
show the relati rn situation of the Colonies stated in
values we have made up from Mr. Hayter's reports for
the years previous to 1890 the following statement.
PRODUCT OF GOLD IN AUSTRALA.SIAN COLONIES.
Yea.l's.
Victoria.. New So.
Queens-
•so. Aus-
Taqma-
.£
£
£
land.
----- - - - -wales.
.£
J;;
4;}1,796
8,594,144
46!5,249
3,240,1!.lS
SH0,229
8,114,47:3
8'33.088
2,940,1!!72
874,636
2,660,78i
2,471,004
411,824
8)8,821
2,500,104'
434,070
2,4:59,856
462,0G0
2,854,240
-*Includes in 1888, 1881? and l
1882 .....
1 883 .....
1884 ••• ..
885 •••• .
886 .....
687.. ..
8 .....
889 .....
8. 0 .....
i87,12G
744,848
1,(,77,815
l ,088,i!93
1,11,S,49"
1,400,730
1,6 5,'iti0
2,588,861
2,187,054 1
t1a.liu.
61,877
62,948
80,898
72,87:3
103,IHS
14.4,410
286,1110
135,651
221,4911
n ia.
::.88,702
178,9-.!6
160.404
158,427
ll9,1SU>
163,68t
147,104
]19,703
75.88i
New
Zea.hmd.
--£
984,971
978,774
922,946
920,i82
800,876
799,870
801,066
808,549
768.715
Tot. Aus
tral1u1la.
.£
6,108,61!)
t,,665,928
5,746,21}0
6,1568,785
5,842,882
l'i.480,520
5,709,05 5
6,544,19 0
6,019.44
9U Western Aus~ralla.and tho Northern TticclLory
The foregoing does not look as promising for a continued enlarged production as when the 1889 figures
were added; then it seemed as if Australasia was sure
to contribute fo some years at least an increasing sup
ply of gold, the total value having risen in that year
from £5,709,055 to £6,544,190. N.ow, 1890 shows a
decided loss, the total being £6,019,442, or a decrease
of £524,748. It should be noted, however, that the
18~0 total is the largest for any year since 188.2 except
MOVBMENTS
OF
1889, and that the large total in 1889 was, as previously
stated, due chiefly to the marked advance in the
figures of that year for Queensland, and that consequently the loss now in the total is chiefly a loss of a
part of t hat gain.
With regard to the silver production in Australasia the
returns are getting to be more definite. But it still
seems to be difficult to obtain full information. This
lack of knowledge is due to the fact that the
ore is sent in a concentrated form to Europe for
smelting, the silver being generally assoc·ated with lead
and other metals. It will be remembered that last year
we gave the product of the Broken Hill Proprietary
C0mpany in New South Wales as published in the
London Statist. We have similar figures for the
twelve additional months ending with November 1891.
According to this statement the silver product of that
single mine for that year was 9,516,190 ounces. We
subjoin the figures referred to, appended to those we
gave last January.
8CLVER PRODUCT OF THE BROKEN HILL PROPRIETARY C0 MPA..'l" Y,
Silver.
Half.yea r to-
---------Nov ember 2!'>, 1886 . .. . .. . .
1 887. .. ..... . . . . .
Der embe r I, 1 887......... .
May 3 L, 1888 . .. . . .. . .• .. ..
November :JO, 1888 .••• . .• .
May 31, 1889 ..• . .. •..•••..
November 30, 1889 .• • ... . .
May 31, 1890 .• . . . .•.... . ..
Novemb er 30. 1890 . . ... ••.
May 28, 189 1. .•. . . . .••• ..
November 26, 1891. .. • . . .
JUilt, :l.
_
Ore treated.
Produced.
~
- Tons.
- - - ----1
Oz.
10,3~7
18,411
28,800
o~,,81:1
54.336
68,545
73,424,
84,205
74,954
1s2,512
118,590
871,665
83.'5,526
1,267,899
1,633,737
2,290,455
2,677,686
:,325,613
3,81-l,-l86
3,517 ,664
4,"n5,331
4,700,859
------
fJOI,D
..A.ND SIL YER.
South Africa.
1887 (part year). .. .. ...... . . . . . .. ... ..... .... . .
1888 ..... ... . . .. . . .... . . . . . . . . . . . . . ....... . .....
1889 ... . .... .. . . ... . ·· · ··· · ·· ·· ···· · · · ··· · · · ·····
1890 . . . . ... .. . . · · · · · ·· ··· · ········· ·· · ··· .. . . .. . .
1891. ··· · · · . . . . ... .... .. . . ..... ... . . . ..... . ..... .
Oz.
34,897
230,917
379,733
494,756
723,980
122,140
808,210
1,329,065
1,731,646
2,533,930
Total. .. . .. . ...... . ... . . ... . .... . ... ....... . . . 1,864,283
6,524,991
It will be noticed that the 1891 total has reached
over 2½ millions sterling and the development from year
to year has been steady.
The only other important producer of gold is Russia. We have no returns fnm that Government except
the figures to be found in the Mint report for 1890,
procured through the State Department ; these figures
seem to show quite wide fluctu ations from year to year.
We remarked upon this feature last January. It appears
that the 1890 total was ($21,161,700) about 2 million
dollars smaller than the total ($23,173,000) for 1889,
whereas the 1889 total was in just about the same
amount larger than the 1888 total, which was given at
$21,302,000; indeed, previous years show even wider
fluctuations. This decline in Russia's figures for 1890
and the decline in Australasia' s figures for the same
year account for the small decline in the world's gold
product in 1890, as it appears in the table given below.
Aver a ge
per ton.
GOLD-WORLD'S
Oz.
83·83
45·88
44·11
41 ·06
Gold.
39·06
"41'> ·30
t45·30
46·93
36·34
89·63
1871 ..... ••.
1872 .•. .. • • .
18
73 · • •·· ·· ·
1874
• • • •.•. .
1875 •••. . .• .
-- -
42·lo
Total, 5¼ years . ·- · ··· ·
703,963
29,750,721
42· '2.6
.. Increase of yield due to use ot concentrates.
t Estimated.
£
1
2
Produc- Producti'n
t ion in
in United
Austr alia.
States.
£
9 ,883,90 5
9,039,057
8,31"0,828
7 ,275,138
6 ,9 38,944
£
8,057,8 51
7,887,810
8,101 ,033
7 ,94 7 ,521
8,2a 7 ,851
P RODUCTION,
3
P r oduct lon in
Russia.
£
5,40 0,3 73
5, rnz,090
4,554,632
4.,56 1,830
4 ,489,070
4
15
Produoti'n
Total
ln Other Produotton
Countries. in World.
£
2,000,000
2,000,000
2,000,000
2 ,000,000
2,000,000
£
2 5 ,342,129
24,118,957
23,036,493
21,784,489
21,685,865
rotal '71·75. 41,517,872 40,252,066 24,197,995 10,000,000 115,967,933
. . •. ... .
}~76
77 . .. . .. . .
78 ... . . . ..
~~ 79 . . . .. . ..
18 80 .....• . .
-6,156
-,442
-----8 ,860,9 50 4 ,6 20 ,310
5,568,783
5 ,999,105
5,949,198
6 ,209 ,31.H
9,297,5 21
8 ,057,8 51
6 ,869,835
6 ,8 09 ,83 5
5 ,6 28 ,2 8 1
5,78 5,2 5 3
5,919,506
5 ,932,1:.!0
2,000,000
2 ,0 ,,0 ,000
2 ,000,000
2,0 0 0,000
2 ,2 00,000
21,637,702
22,494,585
21,842,209
20,738,539
21,211,316
The foregoing indicates a steady increase in the output. Mr. Hayter says in speaking of this mine, " that
the bulk of the silver raised in Australasia is from the Total ' 76-80. 2 9 ,882,889 39,9 5 5,9 92 27,885,4 70110,200,000 107,924,351
18 81 .. ..... . 6,257,121 6 ,6 11,570 5,047 ,73 7 2 ,500,000 20,416,4.28
Broken Hill mines in New South Wales, at or near th e 18
Si .•.... . . 6 ,1 08,615 6 ,198, 347 4,ij3l ,391 2 ,500,000 19 ,738,353
Barrier Ranges, close to the eastern frontier of Sou th 18
18 83 .. • . . .. . 5 ,66 5,928 5,785,1 24 4,835,7 3 3 2,500 ,0 00 18,786,785
84 . •• ..• •. 5 ,7 46,25 9 ti,363,63 6 4 ,007,9[412,5<•0,000 19,117,809
Australia." He adds that the principal of these mines 18 85 ... . .• • . 5,56::1,7!:!5 6,570,248 5,2 3 5,169 2 ,500,000 19,839,202
is the one of which the returns are given above. He Toial '81-85. 29,341,708 31,52 8,925 24,5 57,94 4 12,500,000 97,928,577
-- - - - - - - - - - estimates, however, that in 1889 the output of the whole 18 86 ..•. . •• . 5,342,3::12 7,231 ,4 05 4 ,239,256 2 ,650,000 lH,462,993
87 ..• . . .•. 5,480,520 6,818,18 1 4,184,0 t 8 2 ,700,000 19,182,729
colony of New South Wales was 9,067,500 ounces. ~~ 88 • •• •.. • . 5,709,055 6,85 4,339 4 ,401,24.U 4,000,000 20,9 04,634
89 . ••. .••. 6, 544 ,190 6,776,So0 4 ,787 ,810 5,57 8 ,512 !l3,ts87 ,37l:l
According to the above,, for the twelve months ending
90 · ·•··· •· 6,019,44 2 6,7!:! 6,15 7 4 ,372,252 6 ,301,653 23,479,504
- -- - - - - - - --- - - - - ·· - - with November 30 1890 the product of the Broken Tot al ' 86·90. 29
,09 5,539 3 4,4 66,942 2 1,984,586 21 ,230:165 l0o, 77·7 ,232
- -- 6,780,000 4. 372,2 5 2 6,301,653 ----Hill Proprietary mine was 7,332,150 ounces, and for the 18 91 ..•... . . 6,019,442
23,473 347
twelve months ending with November 30 1889 the _N_o_T_E-.-- T_h_e_p:....ro-d-'u'-ct-10_n__.:of..;...:_Q:..:.u_ee-n-sl-<t~nd~f.:-or~th_e-.:...:.y:...ea..:..r:.::.s.:...1:...:8_5-=-1:..:.t.::.o-=-l877
roduct was only 6,003,299 ounces. It WOtlld seem lnclusive
, £10,29 9,ts86) was gi rnn as a single item at the olose ot 1877.
We have, h owev er, d iv ided it eq ually amon g t he y ea.r s named, add.mg
P
therefore that Mr. Hayter estimated the New Sout h to e a ch ot those y ea r s • p r oduction £ 3 81.477 .
SILV ER-WORLD'S P R ODUCTION.
Wales product in 1889 about three million ounces more
1
2
4
5
3
than the product of the Broken Hill Proprietary ComTotal.
Unit ed
Mexico.
A u stralia All o ther
Silver.
countries.
States.
&G.erm
'n
y.
pany. Consequently, if we are authorized to add to - - £
£
£
£
£
the product of the same mine in 1891 (which was, as 1871 .• •.•• •. 4 ,7 52,06
6 5 ,222,231 1 ,2 <11 ,60 3 3 ,924 ,041 15,139,941
. ••. • • • . 5,940,08 3 5 ,222,231 l ; t 41, 603 R,924,041 16,327,958
already stated, 9,516,190 ounces) the amount of this 1872
1873 .••..•• . 7,3 86,36 4 5,2, 2,231 1,241,603 4,024,041 17,874,239
,, 0 6 ,611 5,222 ,231 1,24 1,6 03 4,124,041 18,294,486
difference, it would make the product of New South 1874 ..• ... •. 76,549,5
7 5 ,2 z~,23!. 1 ,24.1,603 4,12 4,041 17,137,462
- - -Wales for 1891 about 12½ million ounces. These de• 1875 · ·• · ·• •·
T ot al '71-75 32,334,711 26,111 , 155 6 ,208,015 20,120,2o a 84,774,086
ductions may not be wholly reliable, but if they are
1 876. .••... • . 8,01 6,5 2P 4. ,678,S60 1,088,18 2 4,200,0001 17,983,571
Australasia gives promise of soon becoming one of the 1877 ··• ·· • ·· 8,223,140 5,00 'L,9 59 1 1 ,1 85,779 4 ,200,0 ll0 18,701,878
1878 . .. . . . .. 9,3 39,0 5 0 5 ,13 1,611 1,291 ,1 4.0 4 ,300,000 20,061,801.
large producers of silver.
1879 .... . .. . 8,429 ,752 5 ,191.1161 1 ,337 ,90 1 4 ,300,000 19,258,769
1880 ... .. . .. 8 ,099,174 5 ,5;;7 ,190 1,420,463 4,400,000 19,456,827
There is another mining centre which is just be·-9,5,462,846
- ginning to occupy a prominent place as a new source of T otal '76- 80 42,107,645125,631,736; 6,323,405 21,40 0,000
1881 . . •. .. . . 8,884,298 6 ,0 40 ,0 83 1 ,4.18,6 28 4 ,400,000 1?0,743,009
gold supply, and it is a section which seems likely to 1882
···· · •• · 9 ,66B,42 l 6,059,711 1.63 1,157 4 ,400,00 0 21,760,289
18 83 .. • ...• . 9 ,545,868 1 6,109 ,2 98 1 ,74 8 ,38 0 4 ,50 0 ,000 21,903,546
grow in importance during coming years. We refer to 1884 ........ 1 0,0 82,645 . 6 ,548,554 1,845,521 4 ,600,000 23,076,720
the South African gold fields. The London Statist of 1885 . . •...•. 1 0,ti61,157 6,8 64,876 1,985,08 3 4,70 0 ,0 00 24,211,116
January 9 has a communication from a correspondent T otal ' 8 1- 8 5 4 8,843,389 31,62 2,5 22 8 ,628,769 22,600,000 111,694,680
7 ,047,9 34 2,255,00 0 4 ,750,000 2 1,590,124.
at Johannesburg, which contains the official figures of 1886 .••..... 10,537,190
18 87 ·· -···· · 11,02 4, 174. 7,148 ,760 2 ,74 7,000 4,80 0,000 25,719,934
7,:n3,223
12,230,3
7
2
,295 ,U00 5,000,000 27,738,595
888
.•
•
.
.
••.
the output of that section each year as given by the i889 .. •..• •. 13,35 6,708 8,410,3::10 33,911,000
5,200,0 00 30,878,038
8,574,380
5,111,000
6,800,000 34,044,262
14,558,88
2
890
.
••.
.
•
•.
Chamber of Mines. For 1891 the December result is 1
--- - - - - --- -25,550,000
142,970,953
38,394,627
17,319,000
61,707,326
estimated but all the other months of the year are the T ota.l '86·90.
5•
3
9
0
0000
8
884
29
,..,11,000 6. 0 ,
1891 .. • . .. 15 360 000
actual returns. The statement is as follows.
' 8
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
rn
FOREIGN
EXCHANGE.
PRICES, 1876-1891.
The course of foreign exchange in 1891 was affected by the trade and gold movement to a greater extent
than usual, as the movement of securities between our own market and London was less of a disturbing element.
Opening low in January, sterling bills quickly advanced, and for the first eight months of the year high rate,
prevailed most of the time, as the foreign demand for our securities was lacking and gold exports were large.
Rates relaxed in July and August, gradually declined, and rule:l low in the later months, and from September
12 the gold imports were continuous during the rest of the year. The outward movement of gold from January
to July inclusive amounted to $72,787,000 net, and this overshadowed all other events and had a depressing
effect not only at the Stock Exchange but also on mercantile business. During this period the imports of
merchandise slighlly exceeded exports, such excess for the first six months amounting to $13,261,000. The
cereal crops had been a partial failure in 1890 and the exports were small, and cotton, althoughanimmense crops
counted for less in the value of exports, owing to the low prices at which it sold. In the last half of the ye~r
all was changed. The great exports of wheat began in July, gold exports ceased in that month, and the return
movement of foreign gold commenced with the first arriv.tl in New York on September 12 and kept up
throughout the year, the approximate net imports of the four months September-December being over
$35,000,000. T.he exports of domestic products far exceeded any previous period, the maximum of any one
month being reached in November, when the total value of merchandise exports reached $110,100,000. For
the three months September 1 to November 30 (latest reported at this writing) the total value of merchandise
exports exceeded imports by $102,902,000, against an excess of $43,302,000 in the same time in 1890;
The methods of quoting sterling exchange have varied widely m the past, and a glance at the changes which
have occurred is somewhat interesting. In the early history of the country the pound sterling was valued at
$4 44 4-9, based on the worth of the Spanish dollar, then current here, as a standard. Exchange was then quoted
at its real value, the dollar being worth almost exactly 4s. 6d. English money. From 1792 to 1834 our gold coin
was of the same standard as the pound sterling-viz., 22 carats, or 916¼ parts in 1,000; and at its legal weight
of 27 grains the dollar was worth about 97¼ cents, and the pound sterling in our money about $4 56-½. In 1834
there was a material red·uction in the value of our gold coin, so that the dollar was worth only about 91¼ cents
and the pound sterling about $4 87. In 1837 another slight change made the dollar worth intrinsically about
91½ cents and the pound $4: 86j-. In 1834 the Custom House valuati.Bn of the sovereign was put at $4 84, and
so remained till January 1, 1874. During the changes from 1834 to January 1, 1874, the London Stock
Exchange continued to reckon the dollar at 4s. 6d. (about 9 to 9½ per cent too high), involving the practice of
quoting American securities about 8¾ per cent below their actual value. To correspond with the English custom,
bankers in New York from 1834 to 1874 quoted sterling exchange at 109·45¾ as par.
By the law of Congress of March 3, 1873, the Custom House valuation of thi pound sterling was placed at
its true value of $4·8665, and from January 1, 1874, sterling exchange has been quoted accordingly, the quotation
when at par being $4·8665. The London Stock Exchange also made a change in their method of quoting early
in the year 1874, but valued the dollar at 4s., or about 97½ cents. This valuation, being 2¼ cents below par, is
equal to a quotable premium of about 2¾ per cent, and accordingly the present London quotations of American
securities are about 2¾ per cent above their actual value-a bond worth 100 being quoted there at t02¾.
IS76.
l•'JIDMJ·
l!'ebmary.
llay.
June.
,-»
8
60
3
60
II
60
8
60
II
60
S
_ c!Ays. c!Ays. days. day1. days. days. days. days. days. days. days. days.
1. .•• Holiday. 4.86½ 4.90 4.86 4.90 4.87¼ 4.90 4.8tl 4.90 4.88 4.90
a....
8.
4.86 4.8!l¼ 4.66½ 4.90½
::;.
4.88½ 4.90½ 4.88 4.90
II •••• 4.85 4.89 4.86 4.89½ 4.86 4.90 4.87¾ 4 90 4.8:l¾ 4.90½ 4.88 4.90
4 . .•. 4.85 4.89
4.86 4.89,.19 4.85 4.90 4.87¾ 4.90 4.8~½ 4. !JO¼
S.
G..•. 4.84½ 4.88¾ 4.88 4.89¼
8.
4.81½ 4.90 4.88½ 4.90½ 4.88 4,90
S.
4.!!G 4.90 4.87½ 4.90 4.88x, 4.90½ 4.88 4.90
I ..• 4.84½ 4.88¼
S.
4.88 4.90
7 .••• 4.85 4.89 4.88 4.89¼ 4.86 4.90 4.87½ 4.90
8 •••• '-85 4.89 4.88¼ 4..90 4.88 4.90 4.B1¼ 4.90 4.88¼ 4.90,¼ 4.88 4.90
9....
8.
'-86 4.89¾ 4.R6 4.90
8.
US½ 4.SO½ 4.88 4.90
19 .... 4.85 4.89 4.S6 4.89½ 4.88 4.90 4.87¼ 4.90 4.88½ 4.90,¼ 4.t!8 4.90
11 ••• 4.84½ 4.883' 4.86 490 4.86 4.90 4.87),t 4.90 4.88½ 4.!lO½
S.
11 . ••. 4.84½ 4.88½ 4.86 4.90
8.
4.87,¾ 4.!lO 4.&:I~ 4..90½ 4.88 4.90
11 . .•. 4.84>, 4.88¼
8.
4.86,¼ 4.90 4.87½ 4.90 4.8S½ 4,00¼ 4.88 4.90
14 ..•. 4..85 4.89 4..88 4..90 4.F\6,¼ 4.90 4,87¼ 4.90
s.
us 4.90
JI ... . 4 85 4.89 4.86 4.90 4.86¼ 4.90 4.87½ 4.90 4.88,¾ 4.90½ 4.88 4.90
HS... .
8.
4.SG 4.90 4 86½ 4.90
S.
4.88½ 4.90,.19 4.88 4.90
rr . . •• 4.ID 4e9 4.88 4..90 4.87 UO¾ 4.87½ uo 4.88½ 4.90¾ 4.88 4.90
18 ..•• 4.85 4.89 4.!!G 4.90 4.87 4.90¼ 4.87Jt 4.90 4.88¾ 4.90½
S.
19 .••• 4.86 4.89 4.86 4.90
8.
4,87¼ 4.90 4.89½ 4.90,¼ 4.88 4.90
20 ..•• 4.85¼ 4.89½
8.
4.8'7 4.90,¼' 4.88 4.90 4,88½ 4.90½ 4.~ 4.90
21 .••• 4..86,¾ 4.89½ 4 86~ 4.90,¼' 4.87 4.90½ 4.88 4.90
.S.
! 88 4.90
22 .... 4.SG¼ 4.89,¼ Holiday. 4.81 4,90¼ 4.88 4.90 4.88½ UO,¾ 4.88 4.90
!8....
s.
4,86½ 4,90½ 4.8'7 4.90
s.
4.88½ 4,90¼ 4.88 4.90
2i ••• 4.85½ 4.89,¾ 4 So½ 4.90½ 4.87 4.90 4.88 4.90 4.88 4.90 4.88 4.90
25: ••• ,.86 4..89¾ 4.86 4.90 4.87 4.90 4.88 4.90 4.88 4.90
S.
16 .... 4.86 4.89,¾ 4.86 4.90
s.
4.88 4.90 4.~½ 4.90,¾ 4.88½ 4.90,¾
tf .... 4.86 4.89¼
8.
4.87 4.90 4.88 4.90 4.88,¾ 4.90½ 4.88¼ 4.9,l½
28 ... . 4.86 4.89¼ 4.8& 4.90 4.8'7 4.90 4 88 4.90
8.
4.88¼ 4.90 :,,
19 .... 4.86 4..89¼ Ul UO 4.87 4.90 4.88 4.90 4..88¼ 4.90½ 4.SS½ 4.90¼
8.
·•-····•••• 4.87 4.90
8.
Holiday. 4.88¼ 4.90½
11--- '-U 4.89¼ - - - ...• 4.87H 4.90 _ • ._. •.••• 4.88 4JIO ••••••••••••
ao....
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
5'
March.
April.
./uJ:y.
60
8 -
Augu!lt.
60
II
September.
60
8
October.
60
S •
Nonmber. December.
60
S
60~ 8
days. days. days. days. days. days. days. days. days. days. day&. days.
4.88½ 4.90¼ 4.88¼ 4.90¼ 4.87 4.88!i
S.
4.82,¼ 4.84½ 4.82 4.84
s,
4.88½ 4.90¾ 4 sr 4.eS½ 4.83 4.84½ 4.82½ 4.84X 4.82 4.84
4.8'3¾ 4.90½ 4.8"½ 4.90½
8.
,1.tl3 4.81¼ 4.f-2¾ 4.8~½
S.
H oliday. 4.88¾ 4. llO½ 4.86½ 4.88 4.83½ 4.85 4,82½ 4.84½ 4.82 4.84
4.88¼ 4.90¾ 4.88,¼' 4.90½ 4.86¾ 4.88 4.S:~ ½ 4.85
S.
4.82 4.84
4.88,.19 4.90¼
· S.
4.86 4.87½ 4.83,¾ 4. 5 4.8'1 4.84 4.82 4.84
4,88½ 4 90½ 4.88½ 4.90½ 4.85¼ 4.87 4,83¾ 4.85
Holiday. 4.82 4.84
4.88½ 4.90.Ji 4.88,¼ 4.90½ 4.85 4.86,¼
8.
4.8'2 4.84 4.82 4.84
8.
4.88 ~ 90 4.86 4.86½ 4.83,¼ 4.85 4.82 4 84 4.82 4.84
4 SQ 4.91 4.SS ·l .90
S.
4.84 4.85,¼ 4.82 4.84
S.
4.89 4.91 4.87¾ 4.R9½ 4.84 4.85½ 4.84 4.85½ 4.82 4.84 4.82 4.84
4.89 4.91 4.87,¼ 4.89¼ 4.84 4.85½ 4.84 4.85½
S.
4.82 4.84
4.89 4.91
S.
4 84
4.85½ 4.84 4.85,¼ 4.82,¼ 4.84¾ 4.82 4.84
<1.89 4.91 4.87,¾ 4.89½ 4 84 4.85½ 4.84 4.85¼ 4.82,¾ 4.84,¾ 4.82 4.84
4.89 4.91 4,87½ 4.89½ 4.8.':3¼ 4.85
s.
4.82½ i.84,1,i 4.82 4.84
S.
4.87½ 4.89½ 4.83½ 4.~5 4.84 4.85,¾ 4.8'2½ 4.84½ 4.82 4.84
4.89 4.91 i.87½ 4.89¼
s.
4.84 4.85½ 4.82¼ 4.84½
s.
4.89 4.91 4.87,¾ 4.8(),¾ 4.83¾ 4.85 4.84¾ 4.86½ 4..82¼ 4.84¼ 4.82,¾ 4.84H
4.8:} 4.91 4.87½ 4.89,lt 4.83½ 4.85 4.S:3¼ 4.B5¼
S.
4.82,¾ 4.84¾
4.89 4.91
s.
4.88¼ 4.85 4.83½ 4.85}€ 4 82½ 4.84¾ 4,82¼ 4.84½
4.S!l 4.91 4.87½ 4.89,¼ 4.83 4.t 4½ 4.83¼ 4.85,¼ 4.82,¾ 4.84,¾ 4.82½ 4.84¼
4.89 4.91 4.88 4.90 4 83 4.e4½
S.
4.82)!) 4.84,¾ 4.83 4.85
s.
4.88 4.90 4.8a 4.84½ 4,83¼' 4.85~ 4.82 4.84 4.83 4.85
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S.
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S.
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Holiday.
4.88¼ 4,90½ 4.88 4,89¼ 4.83 4.81¼' 4,83 4.85
s.
4..83½ 4.85¾
4.88½ 4.90¼
S.
4.83 4.84.Ji 4.83 4.85 4.82 4.84 4.83),t 4.85~
4.88~ 4.90¼ 4.88 4.,89¾ 4.83 -l.84¾ 4.82½ 4.84¼ 4.82 4.84 4.84 4.86
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S.
4.82 4.84 4.84 4.88
8.
4.88 4.89~ 4.83 4.84½ 4.St¼' 4.81½ Holiday. '-84 4..8t
'-88~ 4..90~ 4.81¼ '-89 ............ 4.82l' ' ~ - .. -....
&.
FOREIGN EXOH.ANGE.
34
In 1877 exchano-e ruled quite steady in the early part of the year, but after July, as the large crops began to come in and
exports of domestig products were large, the price declined and ruled low during the balance ?f the ye3,r. "' E~cept for the return
of United States bonds from abroad, the price would probably have been lower and the imports of !!!pec1e would have been
lar1rer.
1878.--Exchang~ was mUGh ln:fluenced throughout the year by ~he heavy exports of domestfo produce. In the first sil
months there was a large movement in United States bonds returned from forAigu markets, which 5 ave risa to a considerable
demand for bills, that supported prices. 1n the last half of the year exchange gen'3:ally ruled at low figures.
1879.-During the early part of the year the rates for sterling bills were made firm by the heavy return of called bonds from
abroad; md after February demand st.erling bills were often quoted in the bankers' posted rates at 4 89,½@4 90, and there was
apprehension that specia would be exported to a considerable amount. There was_ no large export of specie, however, and in
the latter part of July, after the last call for bonds had matured, rates of exchange fell off rapidly to a point which admitted of
the imports of specie, and so remained throughout the year. The excess of exports over imports in the fiscal year ending J1J.~e
80, 187S, was about $270,000,000. The specie imported at New York in 1879 was $84,176,764, and the export was ::,14,454,343.
18'n'.
8eiember. October.
Allp■t.
Jnly.
Jnne.
Hay.
April.
March.
8
60
8
8
60
I
83
I
80
I
60
8
60
3
SO
d 1. daye. daye. de.ye.
day■•
d&J.11.
clays,
daya.
days.
daye.
day■
daye.
day■.
d&ye.
day■•
days.
day,.
day■•
day■•
day■.
Konth.
4 1:16 4 87¼ 4 88¾ 4 811¾ 4 8i 4 85¾
s.
4 88 4 90 4 t;8 4 00¼
s.
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4 82 4 86¾
8.
I ... , 4 84 4 8ti 4 85 4 86¼ 4 84 48~¼ 4 84¼ i 86¼ 4 88 490 4 88 400,¼ 4 88 400¾ 4 86 487¾
H8 4 90¼ 4 86¼ 4 87 4 83¾ 4 86¼ 499 4 85¼
8.
8 .••• 4 84¼ 4 86¼ 4 85 4 86¼ 4 84 485~ 4 85 4 87 488 HO,¼
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8.
8.
4 ..•. 4 84¼ 4 86½
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4 88 4 90¼ tsil 4 90¼ 4 85¼ 4 81 4 83 4 86 4 81 4 85
B.
11 .••• 4 84¼ 4 86¼ 4 85 486¼ 4 84¾ 4 86 4 86 4 88
8.
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8.
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• 87¼ UO 4 88 4 90¼
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s.
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4 87¼ 4 90 4 86 4 86H 4 ~3¼ 4 86¾ 4 Bl 4 85
8.
10 . . •• 4 84 ~.14 86 4 85 4 86¼ 4 84¼ 4 86 4 87 4 89 4 87¼ • !JO
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S.
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11 •••• 4 SS¼ 4 85¼
488¾487 481 481!
s.
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4 88 490¾ 4 87 4 89 4 35 41!6,¼ H8¾ 4 81 4 81 488
S.
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s.
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s.
14. ..•
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s.
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8.
11'> . ••• 4 83% 4 65¼ 4 &i¼ 4 85 4 84¼ 4 86
4 81 4 86 •
8.
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4 86 , 8s 4 84 • 86 4 88¼ 4 e7 4 81 486
8.
17 . ••• 4 88¼ 4 85¼ , &i¼ , 86 , 84¼ , 86¼ 4 87J'4 Sil¼ • 87¼ 4 90 ~
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8.
s.
18 •••• 4 83¼ 4 85¾
4 88¾ 4 87 4 81 4 86
8.
19 •••• 483,¼, 85¼ 4 ll4 UIS¼ 4 84¾ 4 86¼ 4 87¾ -4 89¼ 4 88 4 90¼ 4 88 4 90¼ 4 86 4 87Jt
488 490X486 487}(483¼485¼48:3¼487 481 481!
8.
m.••• 411~485.¼484 485¼484¼486¾488 490
8.
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s.
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8.
a .... 4 88¼ 4 85¼ Holiday. 4 84¼ 4 86¼
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8.
,, .••• , 84 4 85¾ , 88¾ 4 SG , 84¼ 4 86¼ • 88 uo 488 ""-"
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• · ••• 481 oi BIS¼
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8.
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s.
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S.
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8.
. 4 88 4 90,¼ 4 88 UO¼
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8.
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J'&nUArJ.. ~ ~ ebruary.
8
I
60
Day of IIO
,n, ,
No-tember. December.
8
f.O
3
60
days. days. days. days.
4 81 4 85¼ 4 bl¾ 4 84¼
S.
4 81 4 RI>¾
4 81 4 6¼ 4 81 4 84
4 81¼ 4 84¼
S.
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4 81 4 85 4 8 I¼ 4 84¼
481 4 84¼ 4 81.¾ 4 85
8.
4 81 4 84¾
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4 82¾ 486
B.
481 484¼482¼486
4 81 484¼ 4 8~¾ 4 86
4 80¼ 4 84 4 82¼ 4 86
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s.
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, 81 , 81¼ 4 82¾ 4 88
4 82¼ '86
8.
4 81 4 84¼ 4 S.3 4St!H
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s.
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S.
4 81¼ 4 85 4 88 4 86H
4 82 4 85¼ 4 82¼ 4 86
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s.
4 8i 4 85
............ 4 82¼ 4 86
4 82 4 85¼ , 88 4 88N
4 ~ 4 84 4 11 4 N
18?'!,.
May.
April.
March.
February.
January.
3
60
3
3 a> 60
60
3
!iO
a
Day of • ti0
Month.days. days. days. days. days. days. days. days . d ys. days.
1.... Holiday. 4.82½ 4.84½ 4.84¼ 4.8o¼ 4.87¼ 4.90 4.87 4.89¼
4.82¼ 4,84½ 4.84½ 4.86¼ 4.87 4.89½ 4.86½ 4.89
~ ... 4.8l¼ 4.86
4.87 4.89½ 4.86½ 4.89
S.
S.
3 . .•. 4. 2 4.85½
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S.
5 ...• 4.82 4.85½ 4.t;2½ 4.84_½ 4.84)1t 4.86½ 4.37 4.89½
4.82¼ 4.e4½ 4.t 4¼ 4.86¼ 4.87 4.89¼ 4.B6¾ 4.89
S.
(;....
4.86¼ 4.89
S.
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4.89½ 4. 6½ 4.89
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9 .. .. 4.82 4.8'>¼ 4,82¼ 4.84}9 4.84¼ 4.8t:½ 4. 6.½ 4.89 4.8fi¼ 4.89
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S.
S.
10 ... . 4.82 4.85
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S.
12 .... 4.81¼ 4.84½ 4.82,½ 4.84¾ 4.85 4 87 4.87 4.89½
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S.
13....
4.86 4.8~¾
S.
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4.86¾ 4.89 4.86 4 88¼
s.
s.
17 .... 4.81¼ 4.84
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S.
19 ... 4.82 4.84,½ 4.82½. 4.84½ 4.87 4.89 G'd Friday.
4.82¾ 4.84¾ 4.87¼ 4.89¼ 4.87 4.89¼ 4.86 4.BP.¾'
S.
20....
4.86 4.Ld½
S.
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23 . •.. 4.82 4.84¼ 4.b3 4.85 4,87¼ 4,89¼ 4.87 4.SQ¼ 4.85¼ 4.88
4.87 4.89.!t 4. "j¼ 4.88
s.
s.
24 .... 4.82 4.84-½
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S.
26 .••• 4.83 4. b/S,½ 4.83¼ 4.85¼ 4.87½ 4.89½ 4.87 4.89¾
4.84 4.86 4.87½ 4.89.½ 4.87 4.89¼ 4. t½ 4.87
S.
Z'l •••
4.83½ 4 86
S.
28 ..•. 4.83 4.85¾ 4.84 4.86 4.88¼ 4.90½
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-~ • . 4.83 4.85¾ ••••..•...•• 4.88½ 4.90½ 4.87 4.8~½ Holiday.
. ........... 4. 4 4.86
s.
s...... 4.8:i 4.85 ••• , . . •• • . • •
High . 4.83 4.86
Low. 4.81¼ 4.84
4.86
4.84
4.64
4.82
4.88½ 4.90¼ 4.87½ 4.90
4.81¼ 4.86¼ 4.86¼ 4.89
October: · November. December.
August. September.
July.
31
f.,0
3
60
a
60
3
60
3
60
a
60
days. dayt1. days. daye. days. days. days. days . daye. days. days. days~
S.
4.81 4.85¼ 4.82¼ 4 88
8.
4.86 4.&l¼ 4.82¼ 4.86
4.1!6 4.881/s 4.83 4.86¼ 4.84 4.83½ 4.81 4.85¼ 4.82½ 4.85 4.82 4.86,½'1
4.82 ~ 4.8G½
S.
4.86 4.88¾ 4.83 4.86¼ 4.84 4.S8½ 4.81 4.83,¼
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S.
Holiday.
4.85 4.88 4.83½ 4.87 4.82¼ 4.87 4.81 4.85½ Holidil.l'. 4.82 4. 6½
4.~ 1¼ 4.86¼ 4.82½ 4.87
S.
4.85 4.88 4.8~¾ 4. 7½ 4.132¼ 4.87
4.83¼ 4-B7¼ 4.82,½ 4.87 4.81 4.85,½ 4.80½ 4.85¼ 4. 82½ 4.87,
S.
S.
HO½ 4.85 4.81 4.8'i
S.
4.84 4.87 4.83¼ 4.87½
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s.
4.83 4.87¼
S.
4.85,¾ 4.87,¾ 4.84 4.8l 4.84 4.88 4.82 4.86½ 4.80 4.84½
4.tl2 4.86½ 4.19½ 4.84 4.81¾ 4.86¾ 4.81:1 4.87¾
s.
4.85~ 4.81½ 4.84¼ 4.87½
4.o5¾ 4. 87½ 4.84¼ 4.87½ 4.N,½ 4.83½ 4.82 4.86½ 4.79,½ 4.84 4.81½486.½ 4.83½ 4.88,.
4.81¼ 4.86,½ 4.33¼ 4.88
S.
4.85¼ 4.87½ 4.84¾ 4.87,¾ 4.85 4.89 4.S2½ 4.87
4.85 4.89.½ 4.82½ 4.87 4.78½ 4.84 4.82 4.86¼ 4.83½ 4.88
S.
4.85½ 4 .87¾
s.
4.79 4.84¼ 4.82 4.e6¼
s.
4.85½ 4.87¾ 4.84 • 4.87 4.85 4.89½
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8.
4.88¾
4.83½
s.
4.85,½t
4.79¼
4.87
.J.82½
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S.
4.85¼ C.81¾ 4.83¼ 4.86,¾
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4.83½
4.f6¾
4.82
86
4
4.80
4.87
4.82¼
4.89½
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S.
4.853' 4'.87¼ 4,83½ 4.86¼ 4.8;, 4.89¾ 4.82¼ 4.87
4.89
4.83½
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4.86½
4.80¼
4.87
4.82½
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4.84¾
S.
4.~,¼ 4.87¼
s.
4.81 4.87 4 82½ 4.87
s.
4.85¼ 4.87½ 4.83 4.e6 4.84¾ 4 8:i
4.83 4.86 4.b3¾ 4.88 4.82½ 4.87 4.82 4.88 4.82¼ 4.87 4.83¼ 4.89
S.
4.83¼ 4.89
s.
4.85½ 4.87¾ 4.83 4.86 4.83¼ 4.88 4.82 4 86¼ 4.82 4.88
Holiday. .
4.82 4.80,½ 4.82½ 4.88½ 4.82½ 4.87
s.
4.8o 4.38 4.83 4.86
4.86 4.88 4.83 4.b6 4.83¼ 4.88 4.82 4.81i½ 4.82½ 4.88¼ 4.82 4,86¼ 4.83 4.88½
4.88½
4.83
4.8ti¼
4.1:!2
S.
4.86
-1.81¼
4.88
4.86 4.88¼ 4.83 4.56 4.83¼
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S.
-1.Gti 4.88¼
S.
4.86.½
4.82
4-88¼
4.32½
S.
4.88¾
4.84
4.86
4.83
4.Sti 4.8b¼
I 4.8~ 4.86 4.84 4.~8~ 4.81.¾ 4.86 4.82¼ 4,88½ 4.82 4.86½ 4.82 4.8!½
5.
............ ~4.8:1 . 4.86 ---.. 4.84 4.88½ ... ...... . .. 4.82¾ 4,88 . ........... 4.82-:. 4.8, ½
June.
3
60
days. days.
4.84¼ 4.8o¼
S.
4. -4¾ 4.86½
4.85 4.87
U5 4.87
4.85 4.87
4.85¾ 4.87¼
4.85,½ 4.87¾
4. 7 4.89¼ 4.8il 4.88¼ 4.86
4,83¼ 4.86 4 64¼ 4 86¾ 4,83
4.88½ 4.85 4.89½ 4.84 4.88½ 4.82.½ 4.88¾ 4.82½ 4.88 4.83½ 4.89
4.86 4,82¼ 4.8ti _4.bl¼ 4.86 . 4.78¼ 4.84 4.80¾ _4.85¾ 4.82 _ 4,,86Y.
18?'9.
Doal
r.~·-
January.
~OJoli1ah~.
2 ... .4. 2 4.~½
S ... .4.82½ 4.87½
4 ... .4.82½ 4.87.½
s.
5 ....
6 ... .4.83 4.88
i::::t~~t~
· 9 ... .4.83,½ 4.87½
10 .... 4.84 4.88
H ... .4.84 4.88
s.
12 ....
13 ... .4,84½ 4.88½
14 .. . . 4.84½ 4.88?\l
15 .... 4.85 4.88~
16 ... .4.85 4.88
17 ... .4.85 4.88¼
18 ... .4.Sf\ 4.88,½
~?~~~~~
4.85½ 4.88,½
4.86 4.88.½
4.86 4.~
4.86 4.
4.86,½4.89
4.86.½,4.89
4.87
4.87
4.87
4.87
4.87
4.87
4.86,½4.89
4.86,½4.89
4.86½4.89
4.86,½ 4.89
4.86~ 4.89
4.86 4.89
4.87 4.9J
4.89½ 4.90
4.87 4.00
4.87 4.89¼
4.87,½4.90
4.87½ 4.90
s.
s.
4.86½4.89
4.86,½4.89
4.86 4.89
s.
19 ....
4.86 4.89
20 ... .4.85½ 4.89
21 ... .4.86 4.89½ 4.86 4.89
22 ... .4.86.½ 4.89½ Holiday.
s.
23 . ... 4.86 4.89
4.86 4.89
24 . . . .4.80 4.89
4.86 4.89
25 ... .4.80 4.89
4.136 4.89
s.
26 ....
27 . .. .4.85½ 4,88.½ 4.86,½ 4.89~
28 .. . .4.85.½ 4.88½ 4.86½;4.89
29 . .. . 4.~ 4.88,½ ...... ······
4.88~ ..... . ... .. .
SO ... .4.
............
31 .. · .4.85.½ 4.88
e,,
March.
February.
60 d. Sight.
4.85,½4. ½
13.
4.90
4.90
4.90
4.~o
4.90
4.90
s.
s.
4.87½4.90
4.87 4.89½
4.87 4.89½
4.87 4.89.½
4.87 4.89½
4.87 4.89½
4.S6
s.
4.88,½
!:~~!:~
4.86 4.88~
4.86 4.88
4.b6~~-89
4.86.½ 4.89
4.87¼4.90
4.86~4-~
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4.85¾4.88
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
April.
May.
~?J½~i.i~t.
4.87 4.89.½ 4.F.7 4.~
4. 7 4.
4. 7 4.89
4.87 4.89
s.
4.87 4.89
4.87 4,88½
4.87 4.88.½
s.
4.87,½4.89
4.87 4.89
4.80½ 4.88½ 4. 7.½ 4.89
4.86,½4.88½ 4. 7.½ 4.89
4.86,½ 4"88½ 4. 7½ 4.89
G'd l!'riday.
s.
4.86½ 4.88,½ 4.88 4.89~
4.89
4.
s.
4.86½4.88½ 4.88 4.89~
4.87 4.88½ 4.88 4.89
4.87 4.88,½ 4.88 4.89½
4.87 4.88½ 4.88 4.89½
4.87 4.88½
s.
4.81 4,88.½ 4.88 4.89½
s.
4.88 4.89~
4.88 4.89
4.86½4.83
4.87 4.88.½ 4. ½4.90
4.87 4.88½ 4.88¼ 4.00
4.87 4.88;½,i 4. 1~-90
4.87 4.88½
4.87 4.88½ 4.88~4.90
4.88 2 4.90
s.
4.87 4.88!,<j 4.88 4.89.½
4.87 4.88~ 4.88 4.89½
4.87 4.88
4.f8~it ~
r.>~-~i-~
June.
60 d. Sight.
8.
4.88½ 4.90
4.88,½4.90
4.88,½4.90
4.88,½4.90
4.88½4.90
4.~~-90
4.88,½4.90
4.88,½4.90
4.88 4.90
4.88 4.90
4.88 4.90
4.88 4.90
.:uJy. ·
fJ~l1~
4.86½4.88½
August.
r.>J· ~:mt.
4.88 4.85
s.
4.86,½ 4.88½
Holiday. 4.83 4.85
Holiday. 4.88 4.85
4.83 4.85
s.
4.86,½4.88~ 4.83 4.85
4.83 4.85
4.86,½4.88
4.86½ 4.88½ 4.83 4.85
s.
4.86~4.88½
4.86 4.~ 4.83 4.85
4.86,½4.
4.82.½ 4.84~
s.
4.i4.84
4.86.½ 4.88½ 4.82 4.84¾
4,86.½ 4.88,½ 4.
s.
4.~
4.88 4.90
4.86½ 4,88.½ 4.821:·
4.88 4.90
4.86½4.88½
4.88 4.90
4.82.½ 4.84½
4.86 4.88
4.88 4.90
4.86 4.88
4.82½;4.84s
4.88 4.90
4.82.½ 4.84
s.
4.88 4.90
4.85.½ 4.87.½ 4.82,½4.84
4.84½4.84
4.85 4.87
s.
4.88 4.90
4.85 4.87
4.821~•84½
4.87½4.89~ 4.85 4.87
4.87.½ 4.89
4.82 4.84
4.85 4.87
4.87 4.89
4.82 4.84
4.85 4.87
4.87 4.89
4.82 4.84
s.
4'.87 4.89
4.83~4-~ 4.81
4.81~4.83~
4.83
4.83 4.85
s.
4.86,½ 4.88¼ 4.!,S¾ 4.85,½ 4.81 4.83
4.83¼4.85½
September.
~?8~· ~ -~ t.
4.82 4.84
4.82 4.84
4.82 4.84
4.82 4.84
4.82 4.84
4.82
4.82
4.82
4.82
4.8~
4.82
s.
4.84
4.84
4.84
4.84
4.84
4.84
s.
4.82 4.84
4.82½4.84¼
4.82¼4.84½
4.82½ 4.84½
4.82½4.84½
4.82>2 4.84½
4.82
4.82
4.82
4.82
4.82
4.82
s.
4.84
4.84
4.84
4.84
4.84
4.84
s.
4.82 4.84
4.82.½ 4.84½
October.
60 d. Sight.
4.82,½4.84½;
4.82 4.84
4.82 4.84
4.82 4.84
4.82
4.82
4.82
4.82
4.82
4.82
s.
4.84
4.84
4.84
4.84
4.84
4.84
s.
4.82 4.84
4.82 4.84
4.82 4.84
4.81½4.83~
4.81.½4.83
4.8U~~-83½
4.81½ 4.83.½
4.81½ 4.83½
4.81½ 4.83,½
4.81½ 4.83½
4.81½4.83~
4.81~:·83
4.81.½ 4,83½
4.81.½ 4.83½
4.81½4.83½
4.81.½ 4.83,½
4.81½;4.83½
November. December.
60 d. <\illht. 60 d. Sight.
4. l ,t4.o3½ 4.81,½4.84
4. l½ 4.84
s.
4.81,½4.88½ 4.82 4.84½
4.82 4.84.½
4j\½·f.~½ 4.8.'3 4.85½
4.83.½ 4.83 4.So½
4.80~
s.
4.801 4.83½
4.80 4.83½ 4.83 4.83¼
4.82½4.85
s.
4.80½4.83¼ 4.82½ 4.85
4.80½4.83½ 4.82½4.85
4.80,½4. 3½ 4.82½4.S5
4.80,½ 4.83½ 4.82~~-85
4.80½4.83¼
4.80}1t83½ 4.81½4.84
4.82 4.84¼
4.82 4.84½
4.81 4.84
4.82 4.85
4.81 4.84
4.82 4.85
4.81 4.84
4.81½4.84½ 4.82 4.85
s.
4.81¼4.84½
4.82 4.84½
4.811:•84¼ 4.82
4.84~i
4.81½4.84½ 4.82 4.84½
Holiday.
4.81 4.84
4.82 4.84,\,t'J
4.81 4.84
4Jl2 4.84½
s.
4:1J:,OlJ~~
4.82 4.84½
4.811:·84
!:~i~!:t~
4.82¼ 4.84.½ 4.82½ 4,84.½ 4.81 ½4.84½ 4. 3 4.85'.
4.87 4.89½ 4.88,½4.91l
4.86.½ 4.88½ 4.83 4.85
4.88~4.90
4.81½4.83¼ 4.80½4.83¾ 4-.81¼4-.84
4.87 4,88>t 4.86 4.88¾ 4.83¼4.~ 4,81¾4.83¾ 4.82 4.84
4.86½4.88
FOREIGN EXOH.A.lvGE.
1880.-The coul'Se of exchange in the early months of the year was quite steady, and although there Wd:d no Nturn or
iecurities from abroad as in 1879, the very large importation of foreign m erchandise kept up ~;he demand for bills. /n May
prices of sterling bills were so firm that exports of specie were apprehended. In July, however, rates began to fall off as the
imports of foreigii kerchandise had been considerably checked by the decline in prices h ere ; and after July p;ices of
ex~h~ng_e so fell off that the importation of specie commenced, which was well kept up until the end of the y ear, and resulted j~
tne receipt at New York of about $69,000,000 from August 1 to December 31.
1881.-At the opening of the year rates of exchange were unusually low, and :i.fter stiffening up in February were
quite demoralized after the ~5th of that month by the flurry in the money market. After the middle of April rates became
firm and so remained till August, when there was another decline to low prices, which lasted without su"ostantial recovery till
the end of the year. 'l'he excess of imports over exports of specie for the twelve months ending November 30 was $62,986,036
against $59,342,990 in 1879-80; b11t for the five months, July-November, 1881, the excess of imports was only $24,408,228:
against $52,593,842 in 1880. In January, 1881, an attempt was made by some of the principal drawers of exchange to alter
the method of quoting sterling bills to the per cent basis-thus, the price of 98 for a bill meaning 98-100 of the face value.
reduced to_ dollars at th~ legal valuation of $4·8665 to the pound. This plan, however, wa::i· found unpopular, and was soon
It ban don ed.
1882.-The general prosperity of the three years ending with 1881 had stimulated the importation of foreign merchandise
while on the other hand the small crop of 1881 left the United States a smalJ surplus for export. The natural result followed
and in March, 1882, prime bankers' sterling bills were quoted at 4 89.½@4 90.½ (posted rates), and in t he half-year ending
June 30 about $33,500,000 of gold and silver was exported? while in the correspondi11g period of 1881 about $23,000,000 was
imported. In the lat.ter part ·or the year t:he aspect materially changed, more from the very large exports of cotton than from
any other single cause, and during the last three months of 1882 the United States was a receiver of specie from foreign
countries in moderate amountl:I,
1880.
Day
February.
March.
Ja;:iuarv.
60 d . Sight. 60d. Sight. 60 d. Sight.
4.85 4.88
JioHda.y.
s.
2 ...• 4.81~ 4.84½ ,.:C .83½ 4.85½ 4 .8.'l 4.k8
4.85 4.88
3 ...• 4.81 4.84½ .·.82J?: 4.85
4.83 .·..85½ 4.85 4.88
4....
s.
4.83 4. 5½ 4.85 4.88
4.c::.; 4.88
L : a u t t t r i 4. 3½4.86
7 .... 4.82 4.8-1½ 4.
s.
6
4.85 4.88
8 ... . 4.82 4.84½
4.83½4.80
9 .... 4.82½ 4.85
4.85~4.88½
4.83~ 4.86
4.85½ 4,t:!8½
10 ...• 4.82½ 4.C
4. 3½4.86
4.85½4.88½
11....
s.
4.85½4.88½
12 .... 4.83 4.85¼ 4.83¼~.86
4.84 4.86¼ 4.85½l88~.;
13 .... 4.83½4.86
14 .... 4.83 4.85½ 4.8.'.. 4.86¼
s.
15 .... 4.82½ 4.85
4.85~,~ 4.8'3~
16 .... 4.82½ 4.85
4.84 4.86½ 4.85½4.88
n .... 4.82½ 4.B5 4.84½4.87
4.8-!½
t
.87
18....
s.
4.85¼-:.89
19 . ... 4 .83 4.85
4.84~t.87
4.84 4. 7
4.85½ 1.89
20 .... 4.83 4.85
s.
4.84,½~.87
21. ... 4.83 4.85
4.85,i: 4.89
.22 .... 4.83 4.85
4.86 4.89
Holiday.
23 . ... 4.83 4.85
24 . ... 4.83 4.85
4 .85 4.87½ 4.8G 4.8::s.
25 ....
4.85 4.87~ 4.86 4.89
G'd :; ·'day.
4.85 4.87
26 .... 4.82 4.84
4.F: ~ ;'l
27 .... 4.82½ 4.84½ 4.85 4.88
28 .... 4.83 4. 4.85 4.88
s.
s.
.w .... 4.83½ 4.85½!
4.85½4.58½
::lO •••• 4.83½ 4.85½ ... ... ..... . 4,85½4.88~
31 .. • 4.83½ 4.85½ ...... .... .. 4.85½4.88
of
Mo.
1...
l½l
t~g~t~
4.85 4.88
4.82½-1. 5
Hi,rh 4.83½ 4.86
Low .. 4.81½ 4.84
4.86
4.85
4.89
4.88
April.
May.
June.
July.
August.
60 d. Sight.
r.>8~· ~:Wt. r.>J· ~~%~~
s.
4.87 4.90
4.85 4.87~ 4.83 4.85
4.85½4.88½ 4.87 4 ..90
4.85 4.87 ~ 4.83 4.85
4.83 4.85
4.85½4.88½ 4.87 4.90
s.
4.86 4.89
Holiday.
4.83 4.85
4.87 4.90
4.86 4.89
s.
4.85 4.87½ 4.83 4.85
4.86 4.89
4.87 4.90
4.85 4.8'i~ 4.83 4.85
4.80 4.89
4.87 4.90
4.85 4.87
s.
4.87 4.90
s.
4.85 4.87½ 4.83 4.85
4.86 4.89
4.87 4.90
4.85 l87½ 4.83 4.85
4.86½4.89~ 4.87 4.90
4.82½4.84½
4.86!,(i ,1.89½ 4.87 4.90
4.84 4.86½ 4.82½4.84~
4.84 4.86½ 4.82~4.84
s.
4.86½4.89~
4.86½4.89½ 4.84 4.86½ 4.82 4.84½
4.86~4.89
4.86 4.89½ 4.86½4.80~ 4.84 4.86½
s.
s.
4.86)..a 4.89 2 4.83½ 4.86
4.82½4.84½
4.86½4.89½ 4.86½4.89
4.82½4.84½
4.83½ 4.86
s.
4.82½4.84½
4.86ij 4.89½
4.83½4.85½ 4.82½4.84½
4.86 4.89~
4.86½;4.89
s.
4.88½ 4.85~., 4.82½4.84½.
4.8()¼4.89½ 4.86½4.89
4.~ 4.85
4.82½4.84½
4.83 4.85
s.
4.86½l8\J½ 4.86½4.89
4.83 4.85
4.82½4.84½
4,86~4.l'l9
4.87 4.90
4.82½-1.84½
4.8fi 4.89
4.83 4.85
4.87 4.90
4.82 4.84
4.86 4.88½
s.
4.87 4.90
4.82 4.84
4.86 4.88½ 4.83 4.85
-1.87 4.90
4.82 4.84
s.
4.83 4.85
,.'...87 4.90
4.83
4.85
4.82 4.84
4.85~!!4.88
1.87 4.90
4.85 4.87½ 4 .83 4.85
s.
4.82 4.84
s.
4.85 4.87½ 4.83 4.85
Holiday. ,..._ .
4.83 4.85
4.82 4.84
4.87 4.90 '4.85 4.87½ 4.83 4.85
4.87 4.90
4.82 4.84
4.85½4.88½ 4.85 4.87¼ 4.83 4.85
~?~· ~i.i~t.
f.'J~~-~~
s.
4.85~4.88½
1.85
4.86
4.86
4.86
4.86
4.86
4.86
4.88¼
s.
4.89
4.89
4.89
4.89
4.89
4.fSU
s.
4.85½4.88½
4 .85½4.88½
4.85½4.88~
4.85½4.88
4.85 4.88
4.85 4.88
4.G5
4.85
4.85
4.85
4.85
4.85
s.
4.88
4.88
4.88
4.88
4.87½
7½
4.85 4. ~~
4.85½ 4.88};
4.1
4.89
4.~J 4.89
4.86 ,.:0.89
>·
..,.
...... ... ...
4.86
4.85
4.89
4.87¼
!:~~!:~~
.. ... ......
Septemb'r.
60 d. ::H!!ht.
4. 2 4.84
4.82 4.84
4.82 4.84
4.82 4.84
4.82
4.82
4.82
4.82
4.82
4.82
4.82
4.82
4.82
4.82
4.82
4.82
4.82
4.82
4.82
4.82
4.82
4.82
s.
4.84
4.84
4.84½
4.R4½
4.84½
1.84½
s.
4.84½
4.84½
4.84½
7.84¼
4.84½
4.84½
s.
4.84¾
4.84½
4.84n3
4.84½
4.84½
4.84½
s.
4.82 4.84½
4.82 4.84½
4.81½4.84
4.81½4.84
...... ......
October.
November. December.
60 d. Sight, 60 d. Sight. 60 d. Sight,
4.81½4.84
4.82 4.84,¼ 4.79½ 4.81~
Holiday.
4. l½ 4.84
4. 0 4.82!/4
4. 2 4.84½ 4.80 4.8~
4.81½4.84
4.82 4.84
4.80 4.8
482 4.84
4.81¼ 4.84
s.
4.81½4.84
4.82 4.84
4.80 4.82¼
4.81½ 4.8-1
s.
4.791-<; 4.82
4.81½ 4.84
4.81½4.83½ 4.i9½4.82
4.81½ 4.84
4.81½4.83½ 4.7-9 ½ 4.82s
s.
4.81½4.83½ 4.79½4.82
4.Slo,.~ 4.83½ 4.79½4.82
4.81½4.84
4.82 4.84½ 4.81½4.83½
s.
4.82 4.84½ 4.81½4.83½ 4.79 4.82
4.82½ 4.85
s.
4.79 4.82
4 .82½4.85
4.81½4.83~ 4.79 4.82
4.82½4.85
4.81½4.83½ 4.70 4.82
4.81 4.83
s.
4.79½4.82~
4.79½4.82¼
4.82 4 .84~ 4.81 4.83
4.82 4.84
4.81½4.83½
s.
4.82 4.84½ 4.81½4.83½ 480 4.83
4.82 4.84½
s.
4.80 4.83
4.82½4.85
4.81½4.83½ 4.80 4.83
4. 2½4.85
4.81 4 .88
4.80½ 4.83~
4.81 4.83
s.
4.80!1, 4.83,ni
4.82 4.84!,<£
Holiday .
Holi~ay.
4. 2½4. 5
4.81 4.83
4.82½4.85
4.81 4.83
4.80~4.83¼
4.b2 4.84½
s.
4.81 4.84
4.82 4.84ij 4.80½4.82~ 4.81 4.84
4.82 4.84
4.79½4.81
s.
4.82 4.84½ 4.82½4.85
4.81½4,84
4.81½4.84
······ ......
t:~i~!:~
4.ffi:
4.82 4.84½ 4.81¼
4.79½4.81½ 4.79 4.!U
1881.
Day
of
Janu11ry.
,~~: 6~~-li~ftt.
February.
SJ~t.
tJ·
L:
4tsl½s484½ !~ !~
4 .... 4 ,{1 4 83½ 4 83 4 86
5 .. ..
6 .. . .
7 .. .
8 .. ..
9 _....
10. . .
11. . . .
4 80 4 82½
4 80½ 4 83
4 80½ 4 83
4 80¼ 4 83
s.
4 80 4 82½
4 80½ 4 83½
½L: i ~g~ ! t -
4 83
4 83
4 83
4 83
4 83
4 83
83
4.
4 86
S.
4 86
4 86
4 86
4 e6
4 86
86
s~
14 . . .. 4 81½ 4 84½ 4 83½ 4 86½
15 .. . . 4 81½ 4 84½ 4 84 4 87
16 . . .
s.
17 .... 4 81½ 4 84½
18 . ... 4 81½ 4 84.½
19 ... . 4 81¼ 4 84½
Y.-0. • • 4 82 4 85
~1 . . 4 82 4 85
22 .... 481½484½
23 . .
8.
24 .... 480½483½
25 . . 4 81½ 4 84½
110 ... 4 81¼ 4 84½
21 .... 481½484¼
28 ... 4 82 4 85
29 . ... 4 8~ 4 85
3-0 ...
S.
31.. .. 4 82½ 4 85½
N
4
4
4
4
84
84
84
85
4 87
4 87
4 S7
4 87
s,
4 84 4 86½
tlnliday.
4 83½ 4 86
483 485½
4 1 4 83½
4 80 4 82½
s.
4 79 4 81½
. . . . . . . .. .
. . ...•. . . . .
...... .... .
High 482½485½ 484
Low •. 4 80 - 4 82½ 4 79
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
March.
~OJ½~~t.
!Wi½!rs½
4 81 4 83½
4 81 4 83,½
S.
4 81½ 4 84
4 81½ 4 84
4 81 4 83½
4 80 4 82.½
4 80 4 82½
4 80
82
½
4 80½-! 83
4 81½ 4 84
4 81 4 83½
4 81 4 83.½
4 81½ 4 84
4 81½ 4 84
s.
4 81 4 83½
480½483
4 80½ 4 83
480½483
4 80½ 4 83
4 80¼ 4 83
~s.
4 81 4 SB½
4 81 4 83½
481 483½;
4 81 4 83½
l
April.
May.
~o8i ~~~t. 60d. s'.ight.
481
84
!t½!~½
4 81~ 4 84 4 85 4 87
4 81 4 84
4 85 4 87
4 81 4 84
4 85 4 87
4 81 4 84
4 85 4 87
4 82 4 84½
S.
4 82 4 84½ 4 85 4 87
s. ~ 4 85½ 4 87½
4 82 4 84?,§ 4 85½ 4 87¼
l
U~
tt½
4 82 4 84½
G'd Jl ridn.
4 82 4 84½
S
4 82 4 84½
4 82 4 84½
4 82 4 84½
4 82 4 81½
482,½485
4 82½ 4 85
S.
4 83 4 85,½
4 SS½ 4 86
483½486
4 83½ 4 86
4 84
4 86
484 486
• .. . . . . . . . .
487 481,½484
484 486
4 81½ 4 80 4 82¾ 4 81¾ 4 84
~xJ
!
~½
4 86.½ 4 88½
~s.
4 86.½ 4 88½
4 86 4 88
4 86 4 88
4 86 4 88
4 84½ 4 86½
4 84½ 4 86½
S.
4 84 4 86
485 487
4 85 4 87
4 85 4 87
484 486
4 84 4 86
~Hobday.
4 84 4 86
June.
~tt.
:OJ.
July.
August.
fJ½~t~~ :OJ· 1i~t.
86
484
! t½ :~½
½s~ ½ ! ~ !~
4 84½ 4 86½ H oliday. 4 83 4 85
4
4
4
4
4
4
8.
84½ 4
85 4
85 4
84½ 4
84½ 4
84½ 4
4 84½ 4
86½ 4 84½ 4
87
4 84½ 4
87
4 84½ 4
86a 4 84½ 4
86
s.
86
4 84?,§ 4
-i84is4 86½
4 84 4 86½
4 84 4 86~
4 84 4 86
4 84½ 4 86
4 84½ 4 d6½
s.
4 84½ 4 b6½
4 84½ 4 86½
4 84½486½
4 84½ 4 86¼
4 84½486½
4 8-!½ 4 86½
8.
484½486i
4 84½ 4 86
4 84½ 4 86
484½486
. • • • • • . •..• ,
486½488,½ 485
4 84 4.86 4 84
481
4!3
86½
86.½
86½
86½
86½
4 83
4 83
4 83
4 83
4 83
86~ 4 83
4 85
4 85
s.
4 85
4 85
4 85
4 85
Septemb'r.
October.
November. December.
rst!!~~t. to8g½~~t. ~08
~08 ~~t.
H8~!t
S.
4 80½ 4 84½
4 80½ 4 84½
4 81 4 84½
4 81 4 84~
4 81 4 84½
4 81 4 84½
4 86
4 86
s.
4 84¼ 4 86½
4 84½ 4 86½
4 84 - 4 86
4 83½ 4 85½
483½4 85½
4 83,½ 4 85½
S.
4 83; 4 85½
4 83 4 85½
483 485¼
4 83 4 85.½
4 83 4 85½
483 485½
s.
4 83 4 85
4 82!,£ 4 84½
4 82>fl 4 84.½
4 82 4 84!,,,;
4 82 4 84½
4 82 4 84½
s.
482 484½
4 82 4 84½
481¼ ,'14
4 81 -184
4 80½: 4 84
480½ 4 8t
-8.
4 80.½ 4 84
480}\. 4 84
4 80½ 4 84
484,½486½ 483 4 85
• .83¾ 4 85¼ 4 80¼ 4 84
ui
4 81 4 84.>!l
4 81½ 4 85
4 81½ 4 85
S.
4 81½ 4 85
4 8 1½ 4 85
4 81½ 4 85
481½485
4 81½ 4 85
481½485
IS.
Holiday.
481 484½
4 81 4 84½
~ 81 4 8t½
4~½484
• •• . . . . . . . •
4 84
s.
4 80 4 84
4 80,½ 4 84½
4 80½ 4 84½
4 80½ 4 84½
4 80½ 4 84½
480½484½
s.
481 485
4 1½ 4 85~
4 81¼ 4 85½
48t½485½
4 2 4 86
4 82 4 86
S.
4 82 4 86
4tu,½4 85
4 00½ 4 84
482
4 80
481½485¼ 4 81
4 80¼ 4 84¼ 4 80
i4 84~
~!½ !4 86~g~ H~ s.1~g !4 ~i81 !4 t~
gg~ ! ~~~
84~ 4 80 4 84
4 84
4 84
1~~ii~~ f
1i1 S.
!~½½!~½
4 81 4 85
4 81
4 85
S.
4 81 4 85
Holid•y.
4 81 4 85
4 8L 4 85
4 81½ 4 85
4 81
5
3
4 81½ 4 85
4 81½ 4 85
4 81½ 4 85
4 81½ 4 85
4 81½ 4 85
4 81½ 4 85
s.
4 81½ 4 85
480,½484½
4 80½ 4 84>v
Holid ,._y.
4 80,½ 4 84½
4 80~ 4 84½
s.
4 81 4 85
4 81 4 82
481 48:>
. •. . . . . . . . . .
s.
480½.484
4 80 4 SS½
4 79½ 4 83~
4 79½ 4 83>11
4 79½ 4 83½
4 79½ 4 83,¼
8.
4 79½ 4 83½
4 79½ 4 83½
4 80
486
4 84
¼l
4
4
4
4
4
4
81
SL
81
81
81
81
a½
4 81
4 81
4 81
4 81
4
4
4
4
4
4
s.
85
85
85
85
85
85
~g
!
4 85
4 85
4 85
4 85
S.
4 81 4 85
4 81 4 85
4 81 4 85
481 485
4 80½ 4 84!,
480½484½
S.
HolidHY.
480 484
4 8fl 4 84
4 80¼ 4 ~¼
481 484 81 4 85
485
4 84
,
FOREIGN EXCHANGE.
36
1883.-The imports or merchandise into the United States in 1883 fell off very materially as campared with the previous
'l:ear, while the exports of merchandise, particularly in the first six months, were considerably in excess of 1882. As a
consequence of this movement, it resulted that the balance difference in favor of this country was about $100,000,000 better
than in the previous year. The rates for bankers' bills were strong in May; June and July. After July, rates weakened,
and there was for a time a moderate import of gold; but this soon fell off, and in the late months of the year there was no
feature of importance.
1884.-In the early part of the year sterling excha1 ,e ruled at very firm rates, owmg to the return of securities from
abroad and to the fact that the crops of 1883 had be·• l small, and there was a small surplus for export after J an~ary 1.
As a consequence of this situation there was a net expo1.. 6 of gold amounting to some $32,000,000 by the en~ of Apnl, after
which came the May panic, upsetting money matters and checking the gold export. After July 1 the imports of merchandise began to decline and there was a better feeling in American securities; also in the autumn months a 1!1-rge export
movement of cotton. Rates ,)f exchange fell off sharply in June and July, and there was a moderate 1mportat10n of gold.
Rates in August and September were firmer, and when they declined again and gold imports were beginning, the advance in
the Bank of England rate to 5 per cent, in October, checked the movement. During the balance of the year the rates fluctuated,
1885.-In the enrly part of the year there was some investment demand for sterling bills from parties who wished to have
their funds in London, where money was higher than in New York. In April the ~rospects o~ war between England a1:d
Russia also advanced the rates for sterling, which were again reduced on the more pacific aspect m May. ~ates were low. m
June, higher in July and the early part of August, and then weaker again, so that a small amount _of gold was imported. Du:mg
the balance of the year exports of grain and cotton were relatively small, but there was a considerable demand for _American
securities abroad, and rates did not touch extrem~s in either di~ection. Late in December a sharp ~emand f ?r ~hort b_ills put up
prices temporarily and about $600,000 gold was shipped; but this was merely a flurry and rates fell off agam 1mmed1ately.
Day
of
}ion.
1.. ..
2 ...
8
4::::
January.
60 d. Sigb.t.
Holid 0lY .
4 81 4 85
4 81 4 85
48l 485
L:
!~1
7 ...
ug
.
February.
60 ct. Sight,
4 83½ 4 87
4 83½ 4 87
4 83½ 4 87
S.
!~~H~
S.
4 83½ 4 87
8 .... 481 485 483½487
9 ... 4 81½ 4 85½ 4 83½ 4 87
1
4 33
½l 8
l2 ... 4 82 4 86
4 83½ 4 87
13 .. .. 4 l:i2 4 86 4 83½ 4 g7
½L ·. H~ H~
~+
4 s2i4 86½ ! ~~~ !
16 . . , 4 82½ 4 86½ 4 84 4 87
17 . ... 488 487 484 487
½L:
1883.
March.
6 0 d iLS igh t.
4 8 27'-' 4 8 5
4 82½ 4 85
4 82½ 4 85
S.
Apl'iL
May.
60 d. SS.ight. 60 cl. Sight.
4 84 4 86½
4 82½ 4 85
4 84 4 86½
4 82½ 4 85
4 84 4 86½
482½485
483½486
483
8
t t ~ !~}-Jra½
~
4 81½ 4 84
4 b3½ 4 86
4 83½ 4 86
481½484
s.
4 84 486½
4 82 4 84½ 4 83½ 4 86
4 84 4 86½
4 82
54
s~ ½
t
~+~
4 82½ 4 85 4 84 4 86½ 4 8-1 4 87½
4 82 4 84½ 4 84 4 86½
s.
4 84
86
am!
s~ ½
~+~
4 81½ 4 84 4 84 4 86½ 4 84 4 87½
481½484 41:!4 486½ 41'4 4h7½
a~
>"s~
at gg~ ! !
t
!t !
June.
July.
60 d. Sight. 60 d. Sight.
4 86 4 89½
S.
4 86 4 89½ 4 85½ 4 89
s. ~ 4 85½ 4 89
486 489~ Holtda${.
ag½g8
4 86½ 4 90
486½ 490
4 86½ 4 90
8
.1 86½ 4 90
4 86½ 4 90
4 86½ 4 90
t~t:!sg
4 85¼ 4 89
s.
4 85½ 4 81)
August.
6 o ct. 8 igh
4 84 4 8 772
4 84 4 87½
4 84 4 88
484 488
8
484 488
4 84 4 88
4841,,5488
4 84½ 4 88
t'.
!4 85~~ at
! t ~S,! ~
4 88½
Septemb'r.
October.
60 d
igh t. 6 0 d iLS igh t
11
4 8 27'.J 4 8 6
4 88 72 4 867'.,
s.
4 83 4 85½
4 82½ 4 86
4 82½ 4 85
482½486
482~485
i,,.S
Hg~
4 82½ 4 86
482½486
8.
U~~ ! ~g
U~½
!
ag
lL: !I
t~+7 483 8486½ 482½8484 !t t:~~ ! t~ 8a~ t~i½!~½
l ½!~ t~i
4 83
~L: l 8 ! i ! ~~ ! ~1½ ! rs½ ! t i ~~ 4 85 ,i 88!,d ~~ ! gg ! t ! ~~~ ! ~ ! ~~ ! ~ ! ~
~ •• 4 ~~½ 4 ~½ ~oliiAso
Ht ! rs½ s. 86½ 4 85½ 4 89 4 85½ 4 89
s.
4 83 4 86½ 4 83 4 86
t4 83
! 87 ! 83½S.4 86½ 4 si
83 4 86½
4 83~
25 . .
S.
26 .. . 4 88 4 86½ 4 83 4 86 4 81 4 83½
27 .... 4 83 4 86½ 4 Si½ 4 85½ 4 81 4 83½
28 •••
s.
4 82½ 4 85½ 4 81½ 4 84
. 29 . ..• 483 486½ .......... 482 4fl4~
24 ...•
~.::: !~~g+ :::::: :::::: !~~
High 4 83½ 4 87
Low.. 4 o.t 4 85
t).J
!
86
4 83½ 4 86
4 83½ 4 86
4 88½ 4 86
4 83½ 4 86
S.
4
!t½ .~-~~-~~--
!4 85½
~g~ ag
4 89
4 85½ 4 89
S.
4 85½ 4 89
485½489
0
4fa
1if~½
4 5
89
l3 ½l
4 85½ 4 89
4 b5½ 4 89
4 85,½ 4 89
4 85½ 4 89
485ij489
4
.~.• ~ -~~ - -
4 84 4 87 4 82½ 4 85
4 84 4 86½ 4 6 4 89¼ 4 86r.i 4 90
4 82½ 4 85½ 4 81 4 83½ 4 82½ 4 .85
4 83½ 4 86
-1 85½489
a~~ ! ~
4 84
4 8l
4
4
4
4
84
84
84
84
4
4
4
4
S.
!t
87½ 4 83
87½
87½ 4 83
87½ 4 83
48B
!~+~
S.
a~~t~i t~~½!~
4 8~½ 4 86
4 88½ 4 84 4 87¼ 4 82½ 4 8(:S
88
gg
s~ ½ ~~
! ~~~
4 86 4 89½ 4 85 4 SR½ 4 83½ 4 87
S.
S.
484½488 483 41<6½ 482½486
483
86
!t~!~
4 85
4 85
November.
60 d . S1gh t.
4 82 4 85
4 82 4 85
4 82 4 85
!4 rot£
4 83
86½ 4 83
8
4 86
4 811
S.
4 83¼: 4 86½
4 86½ 4 83½ 4 86½
4 81:1½ 4 83½ 4 86½
486~ 483½486½
8
•......
!~ a~h~ ......
4
fou!a8;.
S.
4 82½ 4 85½
4-82½4 85
482½485½
4 82½ 4 85½ 4 82½ 4 85½
~~~ ~g~ 4 82½s~ 85½
4 82 4 85
4 82½ 4 85½
4 82 4 85
4 82!,6 4 85½
8
4 82 4 85
~~~ ~g~
4 82 4 85
4 82½ 4 85½
482 485
482½485½
t
t
!~~
4 82
4 82
!~
85
s~
4 85
December.
60 d. Sigllt.
4 83 4 85½
s.
4 83
483
'
4 8579
485½
t~~
!~
4 83
4 85½
485¼
483
s.
n~½ ! ~½
4 82
4 82
4 85
4 85½
1 !
! ~J~~.Hg~
482½s485¼
H~~tti
4 82¼4 85§.,
aiiu ~» ! : ·
!I
4 83
4 85½ 4 83
~un H~ gg~
4 86
!
~~
4 81½ 4 84½
S.
4 82 4 85
Holiday.
4 82 4 85
4 83 4 85½
8.
4 83 4 85½
482 485
Holiday.
4 82½ 4 85~
Holiday.
4 82½ 4 85~
4 8211\ 4 85
4 82½ 4 65
482½485½
g~
482~b8b¼
!~
~-~~
~-~--
4 85½ 4 89
4 84½ 4 88
4 83½ 4 86½ 4 83½ 4 86½ 4 83
4 84 { 87½ 4 83 4 Ru½ 4 82½ 4 86
4 81½ 4 84½ 4 82
8
4 85½ 4 83 '4 86
4 85
4 82 4 85
1884.
n:;-f
~t~:
L:
4 .. ..
6 . •••
6 . ...
7 ...
8 ...•
9 .•.
10...
11 .. . •
12 ...
13.. ..
14 .. ..
January.
February.
60Htli~\f:t. :oJlii~t.
486
89
!~f'!gg½
s~
4 83 4 86
4 86½ 4 89
4 83 4 86 4 86½ 4 89
s.
4 8fl½ 4 89
4 81½ 4 86½ 4 8flg 4 89½
4 84 4 87 4 86 4 89½
4 84½ 4 87½ 4 86 4 89~
4 84½ 4 87½
s.
4 81 4 87
4 8'Hi 4 90
4 8! 4 87
4 86½ 4 90
S.
4 8tl½ 4 90
4 84¼ 4 87
4 86~ 4 90
½L: !~ ·:~½ !ro½gg
17 . .•• 4 85 4 88
8.
18 ...
19....
20 . . .
21 . ..
22 ••
4 85
485
4 88
48:I
S.
4 85½ 4 88
4 85½ 4 8~
4 8fl½ 4 90
486;,i490
4 87 4 00½
4 87 4 90½
Holid11.y.
4 87
90
½
25 .... 4 86 4 88½ 4 1'!7 4 90¼
26 ... 4 86 4 81:l½ 4 87 4 \JI),½
27 ....
S.
487 490½
28 .•. 4 86 4 88½ 4 87¼ 4 90½
2ff . ••• 4 3A½f 4 89
4 87½ -1 90¾
30 .... 4 86½ 4 89
. . .. . . . . . . .
81 ..•• 4 86½ 4 89
. . .. . • . . . . .
~-.:. ! ~~!rs
l
March.
\prll.
108~½ ~1t~~ loJ. ~lit~
8
487½ 490½
4 87½ 4 \JO½
4 87½ 4 90½
4 87½ 4 90¼
4 87¼ 4 90½
4 87½ 4 90½
,-3.
4 87½ 4 90½
4 SN 4 90½
4 87½ 4 90½
4 87½ 4 IJ0
4 87t: 4 90
487
4 88
J 88
488
4 88
4 88
4 88
s:\Jl)
4 90½
4 \JO½
490½
4 90½
4 90½
4 90).g
May.
.June.
ioJ. ~ii~t. 60 ct. 8~ight.
t~½t~8~ !~~ s.
January.
Februury.
2
84
4 88½ 4 90~
4 88½ 4 90½ 4 88 4 90
s.
4 8S 4 90
4 88½ 4 90¼ 4 88 4 90
4 8-{½ 4 90½ 4 88 4 90
4 88½ 4 \JO½ 4 88 4 9,J
4 88½ 4 90½ 4 88 4 90
4 88 ½i 4 ll0¼
S.
4 88½ 4 90½ 4 88 4 90
~4 88 4 9,>
4 88½ 4 90½ 4 88 4 9,1
!~~gg~
4 8:1 4 9J
4 Si 4 90
488 490
S.
4 88 4 90
4 88 4 90
488
4 88
4 86 4 88
485,½4d7½
4 84½ 4 1'6½
4 84½ 4 86½
tl
!t½ag
4 84 4 86
4 84 4 86
484 486
S.
4 84 4 86
4 83½ 4 85½
4 H2½ 4 84½
48~ 484
4 82 4 84
S.
4 83 4 85
4 83
4 86
4 82
4 84½ 4 86½ 4 84
! ~½ gg½
4 88½ 4 90¼
4 88½ 4 90½
S.
4 88½ 4 90½
4 88~ 4 90½
s.
4 88½ 4 90;1i
4 88 4 90½ . . . . . . . .. . •
4 88 \ 90½
4 88 4 110g
4 88 4 90 1
488 4\JO
4 88 4 9)
4 88 4 90½
March.
August.
482
!t½!f~½ !~½!~g½
~ s~ ½
44 88~lL 44 8o771L Hg,olid4a.y6. 44 8s~ti 44 8484~
u72
72 4
•
8(
-"7'1
7ll
4 8:'i½ 4 87¼
s.
4 88 4 85
4 8.'i¼ 4 87½ 4 83½ 4 85½ 4 83 4 85
s.
4 88½ 4 85~ 4 83 4 85
4 85½ 4 87½ 4 83½ 4 ~5½ 4 83 4 85
4 85½ 4 87¼ 4 t'4 4 86
s.
4 8-'i½ 4 87½ 4 84 ½ 4 SB¼ 4 83 4 81
4 85½ 4 87½ 4 1141114 86½ 4 83 4 85 '
4 86 4 88
S.
4 83 4 85
4 86 4 88
4 84½ 4 86~ 4 83 4 85
gg
!~½a~½
486
4 85 4 87
4 86
4 85,_
4 8u
4 85
4 85
!
~
.\prtl.
S.
487
4 87
4 87
4 87
8
! ~~ !4 82½
~~ ! ~~~ U~½ ! ~~½
4 84½ 4 83 4 85
S.
4 84 4 86
4ti4½486¼
4 84½ 4 86½
4 84 4 86
Holida_y.
4 84 4 86
Higt. 4 86½ 4 89
4. 87½ 4 90½ 4 88 4:90½ 4 88¼ 4 90½ 4 t!!:i
Low. 4 62½ 4 85¼ 4 86½ 4 89 4 87}-i 4 90 4 88 4 90
4 84
Day
o:f
July.
:o8l ~'i~t. 108~;~ ~it~
4 90
4 86
4
S.
4 83 4
4 83 4
4 2¼ 4
. . . . . • . . .. . . 4 82 4
May.
4 88
4 84
4 82
June.
Hg
44 8866
4
8.
4 8! 4
4 88½ 4
4 88½ 4
4 8:-l½ 4
4 83½ 4
·4 83¼ 4
4 84
s.
86
86
8,½
85½
85½
85½
85½
!ra½ag½
4 83 4 85
4 83 4 S5
4 83 4 85
483 485
483 485
4 83 4 85
4 83 4 85
4 83 4 85
S.
4 83½ 4 85½ 4 83~ 4 85½
4 8379 8579
s:
4 83½ 4 85½
4 84 4 88
484 486
85
4 84 4 8tl
85
4 84 4 86
84¼ 4 84 4 8(1
84
s.
July.
!t
44 8484
!~ s.t~i
8.3
4 84
Seotemb 'r.
October.
November. "December
:oJ. ~11sit. :o8
~i~t. :o8
~1~t. :o8
~i~t
U~
!~
4 82 4 85
4 82
4
S.
4 82 4
4 81½ 4
4 81½ 4
85
85
M½
841(,
4 83½ 4 8:'i½
8.
483½485½ 481 48t
s.
4 81 4 84½
4 83 4 85
4 81 4 84½
4 83 4 85
4 80½ 4 84
.. . .. . . .. . . . 4 80½ 4 84
4 86
4 85
g½
f-
48u½tl484½
4 82½ 4 S4½ Holiday.
S.
4 81 4 85
4 83 4 85
4 80½ 4 85
4 83 4 85
4 8 I½ 4 85
4 83 4 85
4 80½ 4 85
4 82 4 85
s.
4 82 4 85
4 80 4 84½
4 82 4 85
4 80 4 84½
s.
4 80 4 84½
4 82 4 85
4 80½ 4 ~½
4 82 4 85
4 81 4 85
481
85
!4 ~~~
! ~~~ ! ~pi ! t½
83-£ 4 85½ 4 81 4 84
4 8fl
4 84
4 82½ 4 84~ 4 83
August.
i.
!~~~!t~
4 83 4 85
4 80½ 4 84
Septemb'r.
October.
s:
!~H1t~g~
4 82 4 86
4 82 4 86
4 82 4 86
s.
4 82½ 4 86¾
4 SJ 4 86
4 81½ 4 85½
4 81¼ 4 85½
4 8.l 4 86
4 Bl 4 86
s.
aH1!~~
4 81¼ 4 85~
4 81½ 4 85½
4 81½ 4 85½
481½4 85 -_
4 'H½ 4 85½
4 82 4 86
4 82 4 86
8
4 s2 4 86
4 82 4 86
4 !:11½ 4 85½
H<>lid ,,y.
4 81½ 4 85"2
4 81½ 4 85½
S.
.. . . . . .. . . . .
4 81
4 81
4 81
4 82
4 80
4 s 2 ½ 4 ~¼
4 8 1 4 °"
4 86
4 84
November.
4 81'-1! 4 85~
481¼,485¼
4 81½ 4 85½
S.
4 81 4 85
a} ! gg
H olida_y
4 81 4 8i
481 465
s.
4 85
4 85
4 85
D~cember
¥.~~: 6~~li~if:.t. 60 ctlight. 60 d. light. ~o8g~~ifitt· iob~- ~ii~t. :08~~ Ji~t. :o8g. ~ii~t. ~o8g½1i~~~ ~OJ· ~i~t. :oJ½~it~~ 60 d. light. :o8g½~ii~t
2 ... 4 SH~ 4 85½ 84¼ 4 88
4 84 4 87½ 4 85½ 4 88
4 87
89
87 4 b8½ 4 85 4 86
4 83½ 4 85½ 4 84½ 4 86½ 4 84 4 86
4 88~ 4 86
L: :::)~ :: ii! H1S iEH~ 4 1~tis ! i~ 8Hg HJ !H½ iFoi~;as:. Hr~ i~~ iu~ i!~ :
! 11°liii !Eiu~
4
4
4
1
8.
4
6 ....
7 ...
8 ....
9 .. •.
10...
11.. .
12 . , .
13 .. . .
14 ....
15 ... .
16 ....
17 .•..
18....
19: ...
20 . ..
21 .. .
22 . •..
23 ...
24 .•• •
25 ....
26 . ...
27 ....
28 •••
29 ....
30 ....
81
4
4
4
4
4
81½ 4 85½
81½ 4 85½
81~ 4 85½
81 4 85½
81 4 85½
S.
4 82 4 86
4 82 4 86
4 82 4 8(:S
4 82½ 4 86½
48i½486½
4 82½ 4 86½
8.
4 82½ 4 86½
4 83 4 87
4 83½ 4 87½
4 83½ 4 87½
484 488
4 84 4 88
· S.
483 487
483½487½
4 84 4 88
434 487½
4 84 4 87½
4 84 4 87½
Bigb , 84
4 88
4 84
4 84
4 87'~
4 Si½
S.
4 84 4 87,½
4 83½ 4 87
4 84 4 8'7}e
4 84 4 87a
4 84 4 87
4 84 4 87
S.
484 487½
4 84 4 87½
4 84 4 87¼
4 84. 4 87½
4 84 4 87¼!
4 84 4 87½
S.
:Roliday.
11'!3½ 4 87
484 487¾
484 487¾
484 48779
4 84 4 87½
...... . ... ..
..... • , .....
•.•.. , , .. · ,
4 87
4 87
S.
4 84 4 87
4 84 4 87
4 8! 4 87
4 84 4 >'.7
4 81 4 87
4 84 4 87
S.
483½486½
4 83½ 4 Sts½
4 83½ 4 86½
4 St 4 86½
4 8 l 4 06½
4 84 4 86½
S.
484½487
4 85 4 87½
485 487ij½
485 4871
485 487
4 85 4 87½
S.
4 85½ 4 88
4 85¼ 4 88
4 84½ 4 88
4 85½ 4 88
4 87 4 89
483¼486¼ 485¼488
Low. ,81¼4~ 488¼487
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4 84
4 84
4 85½ 4 88
4 87½ 4 89½
4 85½ 4 8'!
4 87½ 4 89.>(i
4 85½ 4 88 4 87 4 89
4 85½ 4 88
4 87 4 8ll
4 85½ 4 88
S.
4 85½ 4 88
4 87½ 4 89¼
8.
4 88 4 9,1
4 "36 4 83½ 4 88 4 91
4 86 4 88½ 4 88 4 IJ0
4 81:1 4 88½ 4 8i 4 90
Hl6 488½ 483 490
4 86½ 4 88½
S.
4 Sf\½ 4 88½ 4 87½ 4 89½
S.
- 4 87½ 4 89½
4 86½ 4 88½ 4 87 4 89½
4 86½ 4 88½ 4 87½ 4 89½
4 87 4 8\J
4 Si½ 4 89¼
487 489
487½489½
4 87 4 89
S.
.
487 489 " 48i½489½
s.
4o7 489
487 489
487,½489
4 87 4 89
4 87g 4 89
487 489
487 489
4 87 4 89
Ho iday,
· · .. ·~ · .. · · ·
8.
4 88
487
4 90
489
4 87
4
4
4
4
4
4
85
8/i
85
t5
E5
85
4 86 · 4 88
s.
4 8 I 4 88
4 S.'3½ 4 85½
Holiday. 4 83 4 85
S.
4 83 4 85
4 86 4 8~
4 S.'J½ 4 85½
4 8 I 4 88
4 83½ 4 85½
4 86 4 8~
4 83½ 4 85½
4 86½ 4 88½
8.
4 8tl½ •i 8H½ 4 83½ 4 85½
4 86 4 88
4 84 4 86
8.
484 486
4 85½ 4 :-!7½ 4 83~ 4 85½
4. 85½ 4 87½ 4 83½ 4 85½
4 85 4 87
4 83½ 4 85½
4 81 4 87
S.
4 85 4 87
4 84 4 86
4 85 4 87
4 84 4 86
s.
48!¼486½
4 85 4 87
4 84½ 4 86½
485 487
484-486
4~P-" 4861 L 484 4~
485½487 484½4&1¼
S
4 85½ 4 87 4 84½ 4 86½ 4 84 . 4 ~6
485½4871/2 484½.486½ 4!:'4 481\
4 85½ 4 87½ .
s.
~ 4 84½ 4 86½
4 85½ 4 87¼ 4 84 4 813 If'> ..... ; • • • • •
4 80
4 86½
4 811½
4 86½
4 86½
4 86½
S.
4 8-5 4 86½
4 84½ 4 86
4 85 4 86½
485 486,½
4 85 4 86½
4 85 4 86½
S.
4 85 4 86½
4 85½ 4 87
4 85½ 4 87
48tl-487½
4 80 4 87½
486 487½
4 87¼ 4 89
485 486
4 86 4 87½ 4 86½ 4 88½ 4 84½ 4 86½ 4 85 . 4 87
4 84
484¼48t.i
484 486
483 485 · 483¼485¼ 483
a
4
4
4
4
4
::s: :::
4 88
8.
4 87 4:88
4 87 4 8'!
4 86½ 4 87½
4 86 4 87
4 86 4 87
4 86 4 87
S.
4 86 4 87
486 487
4 86 4 87
4 86 4 d7
4 86 4 o7
4 86 4 87
s.
4 86 4 87
485½41:>6½
4 85½ 4 8!1½
4!-i5~48!i
485½486½
485½486½
s.
41?5 486
4 85 4 86
. . . .. • .. . . • •
84
84
8-1
84
84
4 86
4 8tl
4 86
4 86
4 8tl
,.
4 84 4 86
4 84½ 4 86½
4 84½ 4 8t1½
4 S4½ 4 Sri½
485 487
4 85 4 87
S.
4 84 4 86
4 St 4 80
4 84½ 4 8ti½
4 84½ 4 86½
484 481
4 84 4 86
S.
483½485'/
72
~
4 83½ 4 85½
4 83½ 4 85½
s.
4 &s½ 4 85½
4 83½ 4 85½
4 831g 4 fl5½
4 ll3½ 4 H6
4 S.'3 4 85½
4 83 4 85½
S.
4ll3 486½
4 83 4 85½
4 83 4 85Y..
4 83 4 85½
4 83½ 4 86
4 83½ 4 86
tl
483 485½
4 83 4 S.'>½
4,;.q 485½
Hord
I a,y.
~½ ro
x,S.
4 83¾ 4 86
. . . . . . . . . . •.
t48lt i486~i 1 1
4 84
4 84
4 86
4 86
s.
4 84 4
4 &\½ 4
4 84½ 4
4 84¼ 4
4 84½ 4
4 84½ 4
s.
86¼
87
87
87
87
87
4 84½ 4 87
4 84½ 4 87
484,¼487
4 85 4 88¼
4 85~ 4 89
4 85½ 4 89
S.
4 86 4 89½
4 87 4 90¼
486"'490
4 86~ 4 90
Hnliday.
486'L 490
7'.l8
4 86 4 69½
486 489¼
4 86 4 811¼
4 86 4 89¼
4 86
4 87 4 90~
485¾_ ~~_,so, _
FOREIGN EXOHAN0E.
37
1886,-Tbe course of foreign exchange in the year 1886 was somewhat remarkable in he striking contrast observed
between the first half and the last half of the year. In the first six months exports were low in value, imports were large,
there was little demand for our i:ecurities abroad, exchange ruled high, and gold flowed out every month, reaching a total of
$84,349,628 net export of gold in the half-year, In the last half-year all was changed-exports of grain and cotton were
heavy, there was a good demand for our stocks and bond, from the foreign markets, exchange ruled low, and gold was
imported to the amount of about $34,000.000.
. _188_7.-There was much iI~.terest in the course. o_f foreign ~xch~nge durin~ the year 1887 in ~o f:3:r as the rates w~re an
md1catlon of the movements m trade and securities. Sterlmg bills ruled high for a very short time m February, whil~· tJ:ie
freight-handlers' strike in New York prevented the sbipments of produce, but they fell off immediately after that, and did
not again rule near the specie-shipping point. After the first of July exchange·ruled low, apparently owing to the purchase
of our stocks and bonds by the foreign markets, and gold came in freely. During the eleven months from January 1 to November 30 the net import of gold amounted to $34,306,111
"'
,
1888.-The course of foreign exchange during 1888 was very much influenced by the relatively small exports of domestic
products and the heavy imports of foreign merchandise, and on the other hand by the continued stream of American railroad
securities towards Emope until the the middle of September. In the fall months the drain of gold from London to ~he
Argentine Republic and to Russia also led to a demand for gold from our market. Under these various influences the rates
of exchange ruled high at times, and there were small exports of gold in May, June and July and a larger export late in
November and in December, the total net export of gold for the year ending December 31 being $20,567,337.
Day
of
January.
February.
March.
A.prll.
6°ii~li~::.t. :o81iliii~ io~~~t. ~08~· ~iitt.
2 .. .. 4 86 4 89½ 4 88 4 90
4 88½ 4 90
4 87 4 89
8
4 86½ 4 90
~~ ~ 4 87 s~ 89
7
0
~g~ ~
~
~~7 ... 4 87 4 \10
s.
s.
4 87 4 89
4 88 4 00
4 88 4 90
4 87 4 89
8 .... 4 87 4 90
9 . .. . 4 87 4 90
4 88 4 90
4 &l 4 90
4 87 4 8\'.l
10...
S.
4 88 4 00
4 88 4 00
4 87 4 89
11 ... 4 87 4 llO
4 88 4 SJO
4 88 8ll½-90
8.
12 .. 4 87 4 90
4 88 4 90
4 88 89½-90 4 87 4 89
13 .... 4 87½ 4 90
4 88 4 oo
4 88 89½-90 4 87½ 4 89½
14 .... 4 87½ 4 l;IO
S.
S.
4 87½ 4 89½
15 .... 4 87½ 4 90
4 88 4 00
4 88 89½-90 4 87½ 4 Sil½
16 . . 4 87½ 4 90
4 88 4 110
4 8~ l-i9½-90 4 87½ 4 89½
17....
s.
488 490
488 490
487½489½
18 .... 4 87½ 4 90
4 88½ 4 00
4 88 4 90
S.
4 88½ 4 90
4 88 4 90
4 87½ 4 89½
19 ... . 4 a7½ 4 90
20 . . . 4 87½ 4 !lO
4 88½ 4 90
4 88 4 90
4 87½ 4 89½
21 .. . 487½490
s.
s.
487:½481l½
22
4 88 4 90
:Roliday.
87½-8 ll¼ 90 4 87½ 4 89½
2s·::· 488 490 488½490 487½4S9½ 487½4811¼
24....
S.
4 88¼ 4 90
4 87½ 4 Sll½ <1. t>7½ 4 89½
¥.~~:
a~~! it~ !
L:
L: nk !
!
gg !
!
gg rM-
May.
June.
July.
August.
Septemb'r.
October.
~OJ. ~i&t. ~OJ½~~~t. 60 d. ligbt. :08~· ~~t. ~OJ· ~iiit,
4 88 4 90
4 88½ 4 90
4 85½ 4 87
4 82 4 85
4 83 4 86
4 87½ 4 90
S.
4 87½ 4 90
4 87½ 4 90
4 &7½ 4 00
4 87½ 4 90
4 b7 4 89½
4 87 4 89½
S.
487 489½
4 87¾ 4 90
4 87½ 4 90
4 8'i½ 4 90
487½490
4 87½ 4 90
S.
4 87½ 4 90
4
4
4
4
4
87),ii
88
88
&8
88
4 80½
4 00
4 90
4 90 ·
4 90
December.
s. ·
4 85
4 85
S.
81½-2 84½-5
4 81½ 4 84¼
81-1½ 84-4h
81·1½ 1--4-4½
4 81½ 4 84½
4 81½ 4 84!,-S
s.
4 81½ 4 84¼
81½-2 84½-o
81¼-2 84½-5
481½485
81-1½ 84½-5
81-1½ 84½-5
S. .
5
1
~
rst
4 81½ 4 85
. ........... 4 85½ 4 87
4 82 4 85
4 82½ 4 85½
4 82½ 4 85½
4 82½ 4 85½
·
s.
4 82½ 4 85½
4 82½ 4 85½
4 82 4 85
4 82 4 85
482 485
4 82 4 R5
S.
4 82 4 85
482½485½
4 82½ 4 85}~
4R3 486
4 83 4 ~
4
86
bS s~
4
4 84½ 82½-3 85,f-6
2 3
6
4 81
S4½ ~ ~- rs~4 s2 4 85
4 es 4 Sil
81¼-2 84¼-5 .. . . .. . .. .. .
4 81 ½ 4 5
S.
81½-z885-5½
~~½: ~
81½-2 85-5½ 4 s1 4 85
. ..... ...... 4 81 4 85
488½490
488½400
4 87Ji 4 89¾ 4 86½ 4 37•
4 81¼ 4 84
485½487
483
4 81
481
4 82
s.
4 88
4 88
4 88
48d
4&
4 88
4 110
4 90
4 90
490
4 90
4 110
S.
488 490
4 88½ 4 90
488½ 490
4 88½ 4 {JO
4 87½ 4 tl9 ·
4 87½ 4 81:1
4 87½ 4 89
S. .
4 87½ 4 89
4 87¼ 4 89
4 87½ 4 89
4 87½ 4 89
4 87 4 Sil½
487 . 488½
S.
4 87 4 88½
4 86½ 4 88
486½488
4 86½ 4 88
486½488
4 86½ 4 88
8
4 86 -i 87½
4 86 4 87½
84½-5 86-6½
84¼-5 86-6½
4 84 4 85½
4 83 4 84½
4 83 4 85
4 83 4 85
S.
82½-3 84½-5
482½484½
4 8~½ 4 84½
4 82 4 84
4 8~ 4 84
482 484
s.
482½4~4¾
82-2½ 84½·5
2
~~ ::. ! gi~ ! ~ij ! :~ ! gg ! ~+ ! ~g 4 87½\ 89½ ! ~ ! ii8 ! ~ ! t8
~tJt½1 tij=g
27 .... 4 88 4 90 4 88½ 4 90
4 87 4 89
87½ 4 8ll½ 87~-8 8 l90
s.
:.
:
:
:
!
~ gg ...... s..... .. 4 s1 8-i s9 ! g+~ ! ~g~ ! 88 ! 08 ! ig~ gg ! ~g a+~
½l
30.. . . 4 88 4 90
. .. . . . • .. . • . 4 87½ 4 89½ 4 87½ 4 89½
s.
4 88½ 4 90
4 ti5½ 4 87
4
31....
s.
4 87 4 89
RangeHigh 488 490½ 488½490
488½490
Low . 4 86 4 89½ 4 87½ 4 89¼ 4 87 4 89
November.
itr¼SJ!~!g g?,?½~:~~
S.
Holiday. 81-1½ 84½-5
5
g+~ Ut~ !4 87r,½ ! l&½
HB½s~ {JO a~~!~ a~ ! ~g 4 82½\ Sii½ rn~ ! ~ ~1sl~ rs1
8
9
8
!4 87½
~~~ ! ~8½ ½s~ & ½ 4 W8°1i~alii½ U~-5 !6~~~ 4b2 <i 85 : ~~½ ug½ ! ~l~ g~ 4 81½ 4 85
4 90
4 87½ 4 1<9½ 4 87½ 4 t'9
84½-5 86-6½ 4 82- 4 F'5
4 82 4 85
s.
4 81½ 4 85
~8~½~ii~~
. .. .. .. . .. .
Holiday.
487½489:½ 488
4 Sf\½ 4 ~ 4 87
490
4 89~
483
4 82
48fl
4 5
4 82
4 82
s1~
au~: ~g
6
4 b4
4
4 81!
4 82
4 S2
4 81½
4 81½
81½-~
4 85½
4 85½
4 85½
4 85
4 85
85-5½
81-1½
80¼-l
4 Sf
Sl-1½
s.
84¼-5
84-4¼
4 84¼
84½-5
4 81 4 84½
t;0½-1 84-4½
81 ½·2 85-5½ 80½-l 84-4½
8.
81½-2
81½-2
81½-~
81:½·2
4 t>&
85-5½
~5-f>½
1<5-5~
F5-5,4i
4 85½
80-0½ 84-4¼
480 484
4 82
4 85½ s o 1
1::0-0½ 4 84½
S.
80½·1 S44-5
80½-184½·5
84-a
482 485½ 80-l 84-5
4 81:½ 4 85
4 80 4 84
s.
M~ttr.-s
4
Hol~~ay.
81½-2 85-5½ 80-0½ 84-4¼
!
484½ 481½485
4 85¾ 4 80 4 84
1887.
~~Y
Mon.
1....
23_", ·. ·.
4 .. ..
5 .. ..
6 ....
7 ...
8 ....
9 ....
January."
60 d. Sight.
Holiday.
8t_1§·8l'LlL
4 72 "72
4 dl-½ 85-¾
4 81-½ 85-½
4 81½ 4 85½
4 81½ 4 85½
81½-2 85½-IS
S.
gt-½l~½
4 83 4 87
4 sH 4 t:!7
4 83 4 87
4 83-½ 87-½
~.
4 83½ 4 87½
4 83¼ 4 87:½
4 83½ 4 87½
4 83½ 4 87½
4 83½ 4 87!1!
4 Sil½ 4 87½
S.
½~:: ·. !
12 .. .
13 . ...
14. ...
15 ....
16 . . .
17 .•••
18. ...
19 ...
20 . . .
21 . . .
22 ....
23 . .
February.
60 d. Sight.
85½-6 4 89
8458½·6 44 8899
35
4 85¼ 4 89
85½-6 4 81.l
S.
85½-IS 4 89
85½-6 4 89
85½-11 4 89
March.
60 d. Sight.
SS½-6 88½-9
85½-6 88½-9
85½-6 8::1½-ll
85½-IS &%·9
85½-6 88¼-lcJ
S.
85½-6 88½-9
85¼-6 88½-9
4 85½ 4 88¼
4 84½ 4 87
4 84½ 4 87
4 84½ 4 87
S.
84½-5 4 87!<,
4 85 87½-8
4 85,½ 4 88
April.
May.
60 d. Sight. 60 d. Sight .
4 85½ 87¼-8
s.
4 85½ 87¼-8 86¼-7 4 88½
S87-7½ 88¼·0
4 85),ii 87½-8 87-7¼ 88½-9
4 85½ 87½-8 87-7½ 88½-9
4 86 4 88
4 b7 88½-9
4 86 4 &;
4 87 88½-9
4 SIS 4 88
s.
4 86 4 88 811½-7 88-8¼
86_6 ½s88-8 ½
4 86~ 88-8½ 86½-7 88-8½
4 86½ 88-t% 86½-7 88-8½
4 86½ 88-8½ 86½-7 4 88
4 811½ 88-8½
s.
4 86½ 88 8½ 86½-7 4 88
S. ·
86½-7 88-8½
4 86¼ 88-8½ Stl½-7 88-8½
4 86½ &l-1-l½ 86½-7 88-8½
86½~1 88-8½ 00½•7 88-8¼
811½-7 88-8¼ 86½-7 88-8½
86½-7 88-8½
S.
86,½-7 4 88½ 86½-7 88-8½
s.
4 86-½ 89-¾
4 86½ 4 89¼
4 Sil½ 4 811½
4 86½ 4 89½
4 86-½ 811-½
4 So½ 4 f,1,J_¼
S.
4 8d½ 4 89½
l-l olida_y.
4 86½ 4 89½
s.
S.
S.:?½-6 88-8½
85¼-6 88-8½
4 i-5½ 4 88
4 85½ 4 88
87-7½ 4 89 86½-7 88-8½ e4-4½ 85¼-6
87-7½ 4 89 86½-7 88-8½ &$½-4 86-5½
87-7½ 4 89
S.
83~i-4 85-5½
87-7½ 4 89
Holiday. 4 84 4 85½
........... 86½-7 SS-:8½ .... .• ......
~~:i
! ~~ ! ~~~ ! ~
4 86 4 89
4 85½ 4 88
~-:: · ~t~ ~~~ ! ~~
4 89
S.
85½-6 88½-9
. ... .. . ....
. ..... . .. . •.
Bigh 4 s1
Low 4 86
4 85½ 4 88½ 4 86 4 89
4 86½ -1 b9J.2 4 84¼ 4 87
4 8:;
4 89
:~:+ rs:~ !
4
4
4
4
4
4
4
4
4
4
! ~+
½S.
85½ 4
85½ 4
85 ~ 4
85 4
84½ 4
84½ 4
S.
84½ 4
84½, 4
84½ 4
84½ 4
87
S7
86½
Sil½
dB ~
86
86
86
86
h6
! ~g !4 ~g~ i4 ~
4 87 4s88½-n ~:+ ~:~~ t:!~ ~f~:g
88½ 4 87 88½-9 86,½-7 88-8½
S.
2tl ... 84½-5 88-8½
4 8':!½
28 .•. 4_~ 4 88½
29 .... Sil-.>½ 88½-11
30 . ...
S.
81iiiiii:~-6 4 89
27 . ••• 4 85
4 86
85.5¼ 87½-8
84½~5 87-7½
4 84½ 4 S7
June.
60 d. Sight.
4 86¼ 4 b8
4 86 4 &7½
4 86 4 R7½
4 86 4 87½
S.
85½-6 4 87½
4 85½ 4 b7
4 85½ 4 87
4 85½ 4 87
~½
4
4 87½ 4 89
4
4 87¼ 4 89
85),g 4 87½ 4 Sil.½ 4 88
4 86¼ 4 88
4 83½ 4 85
July
60 d. Sight.
4 84 4 85½
4 84 4 85½
S.
Holiday.
4 84 4. 85½
4 84 4 85½
4 84 4 85½
4 84 4 8:i ½
4 84 4 85½
. .. ... . .....
December.
!0 ~. Sigut.
8
4 81
44 82 4 8$
:& 4 8.l
s.
82 4 Si
1½-2 85~-f:l
81½-2 8.'>><i-6
Sl½-2 85>1!-tl
81½-2 8572·1.1
81½-~ 8512 ts
81½ ~·
~_1¼~2
• 2~ 5 72,,.,..
2-2½ 5½-6¾
4 82½ 86•6½
82½-3 &s-6½
S.
4 83 4 86¼
4 83 4 86½
4 83 4 86}<.
4 83½ 86½-7
4 83½ 4 87
4
87
b3½8~
Holiday.
4 83s 4 87
4 8;l 4 87
4 83 4 87
4 88½ 4 87
4 83¼ 41:17
~ R~ L 4 85½ 4 83~ 4 s 5M, s i.L 4 85t§ 4 S2 !l 86 ½ 4 ~ ~4 86.}'
1
-.. 8 "7'l
4 85
4 81 ,,,, 4 847'-'.,. 80~ 4 84 7'I 4 80 na 4 85
4 8 ~ _ 8v
4 83½ 4 87
4, Sl~ 4 85~
4
4
4
4
4
4
~ s4 85
8~½ 4 85½
83½ 4 ss
83½ 4 85
83½ 4 85
83¼ 85-5½
S.
4 83½ 85-5½
4 83½ 85-5½
4 83½ 85-5½
4 83½ 85-5¾
4 83½ 4 85¼
4 88½ 4 '.:15½
4
4
4
4
4
4
S3½s4 85¼
ti3½ 4 85½
83½ 4 85½
8~½ 4 85½
83½ 4 Sn½
83½ 4 85½
"·
August.
60 d. dight.
83-3½ l:l5-5½
4 83 4 85
4 83 4 85
4 82½ 4 85
4 82½ 4 85
4 82½ 4 85
S,
4 82½ 4 85
4 82½ 4 85
Septemb'r.
October.
60 d. Sight. 60 d. Sight.
4 81 4 85
4 80½ 4 85
4 SL 4 85
s.
4 S L 4 85
4 80½ 4 85
s.
4 &O½ 4 85
Holida.v. 4 AO½ 4 85
4 81 4 85
4 80½ 4 85
4 80½ 4 I¼½ 4 80½ 4 85
4 80½ 4 84¾ 4 80½ 4 85
4 80½ 4 84½
S.
~~~:
4 soijs: 84½
~½
4 82 4 84½ 4 80½ 4 85
81-1½ 85½~6
4 s2 4 84½ s o I s s5--~~ s 1~-~ sa-ts (1
4 8 6 na
S.
~ 8 017'-' 1 8 "ni 4 8 "
4 82 4 85 ~0¼-1 85-5½ 4 82 4 86¼
4 Si 4 85 80½-l 85-5½
S.
4 82 4 85 80½-1 8.'.l-672 4 82½ 4 86½
4 8-& 4 85
S.
4 82½ 4 86!,-i
4 82 4 85 80¾-l 85-5¼ 4 82 4 86
4 82 4 85 80½-l 85-5½ 4 I":& 4 81l
S.
80½-l 85-5½ 4 8:d 4 86
4 82 4 85 80½-l 85-5½ 4 8j 4 86
4 82 85-5½ 4 8U½ 4 85 •
8.
4 80
85
~½~-~
½s~
~t~~ ~
81½-2 8 -!'% 4 80½ 4 85 Si-2½ t 86
Sl½-2 85-5}2 4 80½ 4 85
82 ~½ 86 6½
• s.
4 80½ 4 85 82:2½ 8{µ)½
81½-2 85·5½ 4 80½ 4 85
4 8t~~ 4 &l½
81½-2 85-5½ 4 80½ 4 85
S.
81¼·2 85-5½ . .... . . . .... 4 82¼ 4 86½
!
~g
! ~?½ !
M_~
!
~tg~
t
November.
60 d. ~
82-:&½ """7'-'
82-~½ 88~½
82-~½ u-v½
82.2½ 86-ts,½
82-2½ 86-6½
S.
82-2~ 86-6¾
Hohday.
82-'&½ StH:l½
i~=~~ ~]~
82-:&½,8Mi½
" _ }5 · _ L
o 2 21n, 8 6 61"'
82-2½ 86-6½
8:.l-2½ SB-6¼
b2-2½ 86-6¼
82-i½ 86-6½
82-2½ 86-6½
S.
4 62½ 4 86½
b2½-:i 4 Stl½
4 8;l¼ 4 &!½
R2~~ii6!6¾
82-2½ '36-6½
S
4 82
4 82
4 82
4 86
4 86
4 R6
M
l
t
~ij~;
1888.
Day
of
January.
60 d. 8~ight.
2 . . . Holiday.
3 .... 4 dJ½ 4 87
4 .... 83½- t 4 87
5 .... 84-4½ 87-7½
6 . ... 4 81 4 87
7 . . . 84·4½ 87-7½
8 . ...
S.
9 ... 84.½-5 87¼-8
10... 4 t:!~ 4 88
11 ... 4 Z,;) 4 &l
12 .. - 4 85 87-7¼
February.
5 SJ~~~7
8!½·5 86½-7
4 8-i-½ 86-½
4 84-J,g 81S·½
S.
4 84-¼ 86-½
4 Si-½ 81-½
4 84-½ 8~½
4 84¼ 4 8 •171)
4 8!.½ 4 86¼
4 84½ 4 86½
.
S.
~o8 i.½s~
4 86-½ a8--½
4 86-½ 88-½
S.
4 86-½ 88-½
4 86-½ 88-½
4 86-½ BS-½
4 Sfl-½ 88-¼
4 86-½ 88-½
4 86-½ BS-½
16 ... St.½-587-7.½ 4~5-½48.'i
17 ..• . 84¼ 5 87-7.½ 4 85--½ 4 87
18 . ... 8:t½-:'l 87-7.½ 4 85-½ 4 87
rn ... S4J.il-5 87-7½
s.
20. . . 4 85 4 87¼ 4 S.'5-½ 4 87
21 . . . 4 85 4 87½ 4 85~-87-¾
22. ...
S.
Holiday.
23 .. . 4 85½ b7½-8 4 85½ 4 87¾
24 .... 4 85½ 87½-8 85½-6 ij7¼-8
25 ... 4 35¼ 87.½-~ 85½-6 87½-8
486-½SS-½
4 St!-½ &:!-¾
S.
4 86-½
4 86-.½ ~
4 00½ 4 88
4 86~ 4
4 86½ 4 88½
4 8tl½ 4 88½
s.
¥.~~:
gi~:
March.
t,.
4 86-½ 8
, 6
½t:::
t~=gS.~~=~~ i4 ~g85 :4 87
~f !4 ~
ss
15.. ..
86-½ 8S-
ss-;,
April.
60 d. light.
4 86-xi SS-½
4 8 I-½ 88-½
4 86-½ SS-1,q
4 86-½ 8-;...½
4 86-½ BS-½
4 86-½ 88-½
o.
4 86-½ 88-½
4 86-~ 88-¼
4 86-½ BS-½
4 86-~ 88-¾
:
~t¼ ~
May.
gg~:/~l!~
86½-7
86¼-7
4 b7
4 87
4
4
4
4
4
4
88½-9
88½-9
4 89
4 89
s.
87 4 89-~
87 4 811~
87 4 89
87 4 89
87 4 89~
87 4 811½
4 87
4 87
4 87
S.
4 89
4 89
4 su
4
4
4
4
4
ti7½
87½
87½;
87½
4
4
4
4
90
lcJO
90
oo
90
s,~~
4 87½ 4 90
29.. •.
S.
85½-6 87¼-8 4 86½ 4 88½,
s. • 4 87¼ 4 90
30 .••• 4 Sf> 4 87-½ .. . .. . . . ... 4 86½ 4 RS~ 4 87 4 89
Holiday.
SlRaiii~½ 486½ .. . ...
4 86½ 4 88½ ..... , ..... 4 87½ 4 90
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4 88
4o6
July
60 d. 8~1ght.
4 87½ 4 89-½
4 87½ 48\H,n
Holiday.
4 87½ 481.l·½
4 87¼ 4 89-½
4 87½ 4 SU-½
S.
4 R7.½ 4 89-ij
4 87½ 4 t'94 87½ 4 894 87.½ 4 8\J-½
August.
~1~t.
4 Sts 4 88
85½-6 4 88
85½-6 4 88
S.
85½-6 4 88
85½-6 4 88
85½-6 4 88
85½-6 4 88
85.½-B 4 8-{
85½-6 4 88
S.
fJ·
4 861/13 4 88½ 4 87
'186 488
486
4 89
488
Septemb'r.
fJ½~1~~~
S.
Holinav.
4 85½ 4 88.½
4 So½ 4 HS¼
4 85½ 4 8 •½
4 85½ 4 kB½
4 85½ 4 88½
S.
4 85½ 4 88.½
4 85½ -1 88½!
4 85½ 4 &l½
fM~ ~1t~ ! ~~~ ! ~g:~ t5~~½s~~~ t4 85.½
t~~ ! :~
4 89
4 s1 s4 00½
~.
86½-7 89-¾ 4 l:l7.½ 4 di/½
S.
t!5-.½ 87½-8
486-½SS-.½ 8~½-7 81.l-½ 487½489½ 487½-189-½ 85-½87.½-8
4 86-¾ 1 4 87 4 89.½
S
4 87½ 4 Sil-¼ 85-½ 87.½-8
4 56.½ 4 88 4 87 4 89¼ 4 87½ 4 Sil.½ 4 87½ 4 89-½ 85-½ R7½-8
4 s11~ 4 88 4 s1 4 89½ 4 87½ 4 s0 ¼< 4 s1½ 4 SI>-¾
s.
4 86 4 88
S.
4 87¼ 4 Sil¼ 4 87½ 4 89-½ 4 85-½ 4 88
86¼· 88½· 4 87-½ 4 90 4 87¼1 4 tsl!¾ 4 87½ 4 89-½ 4 85-½ 4 88
~.:::
t ~t1 ~J~j 85¾.a887½-8 ! ~~ 1~~ : ~i 1~g
28 ••• 4 85.½ 87:½-8 85¼-6 87½-8 4 8H½ 4 88½ 4 87 4 89
'High 4 8.,,,½ 4 SR
4 86
Low.1488½486¼ 484
June.
~o8~½~ii~t.
4 87½ 4 90
s.
4 87½ 4 90
4 87½ 4 90
4 87 4 89½
4 87 4 89½
4 87 4 81<¾
4 &7½ 4 89½
S.
4 87½ 4 89½
87½-b 9½-00
S.
4 85.½ 4 89
4 85½ 4 89
4 85½ 4 s0
4 85-½ 88½-9
4 85·½ 88~-9
4 87½ 4 89¾
s.
4 85-½ 4 88 4 85 88.½-9
4 87½ 4 89Xi 4 87½ 4 89-¼ 4 85½ 4 88~
S.
S
4 87 88¼-ll 4 85½ 4 88½ 4 85 88½-9
4 e7½ ,i SO¼ 4 87 88¼-lf 4 35½ 4 88½ 84¼-5 8·%-9
14 ~+~
ai~ i ~¼ r~~
87½ 4 89½ 4 86½ 4 88½
October.
November. December.
~J:5 ~~-~ ~o8g. ~i~~ ~~¼ ~1~9c.
81½-5 88¼-0
84¼-5 St-!-!i-11
4 8-Hi! 4 89
4 84½ 4 Sil
4 84½ 4 89
S.
4 84½ 4 89
4 84½, 4 89
4 84.½ 4 8 ,1
4 84½ 4 89
4 84½ 8:1¼-9
9
4 84
.½lt:!½·
4 84½ 88½·9
84~~588}-,i-lJ
84h-5 8"%·9
tl4½-5 &l½-lcJ
84½-5 88¼ 0
84½-5 88½-9
S.
84½ 5 88½·9
84¼-5 SS½-9
84¼-5 88¼ ii
84~-~ 88½·\I
4 85-½ 4 &l½
485-½ 488½
S.
485-½ 488½
Holiday.
4 85-.½ 4 88.½
4 85·-½ 4
4 81-½ 4 88
4 85-½ 4 ts8
s.
4 85-½ 4 RS.½
. -S.
4 85½ 4 89
4 85½ 4 80
85-.½ 4 89
85-½ 4 80
85-½ 4 89
85-.½ 4 81}
S.
85-½ 4 8\l
85·½ 4 80.½
i,5-½ 4 89 ,,
4 i-5-½ 4 SH¼
48j-¼4R8½
4 85-½ 88:½-9
~.
4 85½ 4 89
4 i-5¼ 4 89
4 85!,ii 4 RIJ
4 85½ 4 ~9
4 85¼ 4 89
4 85½ 4 89
s.
85-¼ 4 89½
S.
85-¼ 4 89~
Sf>-¾ 4 89~
85-.½ 4 S9xa
85-¼ 4 89½
85-½ 4 89¼
~ 4 8G¼
S.
85-¼ 4 89¼
Holiday:.
88a
l ~ t ~~
r&~ ~~ t~g ! ~ ! ;~ l ~~
~t~
t ~tij
~:~
! ~ti
4 85l, 88½
4 85½ 4 88½ 84½-il 88¼-9
S.
4 80!-12 4 i19
84½-5 89-¾
s.
4 85½ 4 88¼ 84½-5 88¼-9 4 84½-4 88½
Holiday. . 84¼·5 b'9-¼
87-7!,i; 89-9½ 4 86½ 4 88½ 4 85½ 4 88½ r
S.
4 8~ 4 88½ 4 85¼ 4 811
S.
............ 4 86 4 88
4 85½ 4 88¼ •••.. • •••••• 4 8.:> 4 88½ ••••. •• •.••• 84~-5 8 ~
87-1½ 89-9½
4 87½ 490
4 88
4&1¼488¼ 487
4 90
4.89
4 87¼ 4 89¼ 4 86
486 488
4.85
4 88¼ 4 85¾ 4 89
4 85 4 89
' 85.½ 4 89
4 85½ 4 89¼
487½484¼488¾ 484.½488½ 485 488½ 4.84¼489
FOREIGN EXfJH.ANGE.I:
38
1889.-In the first half of the year rates of exchange ruled high. The imports of foreign merchandise continued large,
and there was an export of gotd in the first six: months amoun~g to the net s ~ of $37,454,716.
the latter part of the
year the important feature was the large amount of merchandise exports, p3:rt1cularly of cotton, which went out to t h ~ exte nt
of some 3,000,000 bales in thE'I four months from Sept. 1 to Dec. 81. ThlS made a large amount of exchange, and reduced
rates, but there was no netjmp_ort of gold, and on D ec. 30, when exchange rates under t he money pressure dropped ~ e re ~o
4·84 for demand sterling, the Bank :of England advanced its rate to 6 per cent, and checked any movement of gold m this
direction. ,.
J;n
1890.-Sterling exchange opened the year at very low figures, with t~e Bank, of E1;1-gland rate standing at 6 per cent and
ruoney close in New York, and 4 80½ was the posted rate for bankers 60-days sterlmg. But as money _relaxed e xchang:e
soon recovered and rates advanced to 4 84½ early in February, though falling to 4 81½ by the end of that month. From this
point rntes went up to 4 86½ in April, back to 4 84 in May and up to 4 86 in June, when _gold exports commence d. ~he r ~ was
a laro-e amount of sec urities returned from London to New York after the South American troubles began. Our s ilvei purchas: law of 4,500,000 ounces per month also became a l aw on July 14. In the two months prior to August 10 ~he exports of
gold reached about $16,000,000. In the last half of 1890 the rates of exchang~ fro~ week to week depe~ded _man~ly upon the
condition of monetary affairs in New York and London , and were closely alhed with the general financial s1tuat10n. In December about $5,000,000 of gold was imported from London.
1891.-Sterling exchange opened the year at moderate prices, the bankers asking 4 80½ for 60-day bills and 4 85 for demand. But rates quickly advanced and at the end of the month asking rates were 4 86@4 88, and from this time fo~·w a rd they
were well maintained until August. After this date exchange ruled low during the balance of the year and the imports of
gold were continuous from September forward, the net amount imported exceeding $35,000,000. In the first s e v e n m o nths of
the year the exports of gold , which began in February and lasted till near the end of July, amounted to $72,787,000 net.
1889.
Da.y
of
January.
February.
March.
1tl_~~: 60a~u~ifft· :08~. SJ~~~ ~08~. ~ii~~
2 .... 84¾-f':> 89-9¼ 4 87 89-lf½ 4 s; 4 89½
4 87 s89-9¼ 86½-ti S!l¼
5
84½ 5 811 O½ 4 87 89 9½ 86½--~ 4 89½
6::::
- S. .
So¼-7 4 89 86¼-7 4 81%
1 ... 85-5½ 89-9¼ 86!,ii-7 4 89 86¼-7 4 89¼
8 .... 85-5½ 89-ll½ 8tS½-7 4 89 86¼-7 4 81l¼
9 .... 4 85½ 89-9½ 86½-7 4 89 86¼ ·7 4 89½
S.
S.
10 .. .. 4 85½ 89-9¼
11 .•• 85¼-tt 89-ll¾ 86½-7 4 89
4 86¼ 4 89¼
12 ... 85½-6 89-93-ft 8t1¼-7 4 80 4 86>2 4 89¼
13 _. ..
• · •.
L-6s . ,.. 8~~§-_ 7 4 s o 4 86¼ 4 s 0~
8517" 4 8 "
14
8""" 7 4 89 4 86¼ 4 99 ,,,,
15... . 85½-6 4 SQ Sfl½-7 89-9¼ 4 86½ 4 Sil¼
16 . . . . 4 86 4 89 t:!6½-7 811-9½ 4 86¼ 4 89¼
17 ..• 4 86 4 80
8.
S.
18 .... Stl-6½ Sll-ll½ 86¼-7 89-9¼ 4 813¼ 4 89¼
19 . ... 4 86½ 4 89½ 4 87 4 89¼ 4 86¼ 4 89~6
20. . .
S.
4 87 4 89½ 4 86!,ji 4 89¼
4 7
L: ~!~:g ~t~t:
~½:
:: : ~~~=~ ! ~8~ t 01M.:~ ! :~ ! ~~
23 . . 86½-7 4 f-9½ 4 87 4 SS},¼ 4 86¼ 4 89½
24 .... 4 87 4 89¼
S.
S.
25 ... 4 37 4 89½ 4 87 4 /:19½ 4 86¼ 4 89¼
26 . . .. 4 87 4 89½ 4 87 4 89½, 4 86!,,i 4 89¼
27....
S.
4 87 4 811½ 4 86¼ 4 89¼
1
:J.:::
!~~ Ht~~-~:. ~-~~~ ~~- U8?§
80 .... 87 4 89½ . . . ...••.... 4 87 4 89¾
4
31. ... 4 87
April.
May.
8 ~i~~
01 ~:,t.
4 87 4 89¼ 4 88 0+00
~t1,!
4 87¼ 4 8 ¼
S.
4 87¼ 0¼-,90 4 b8 9¼-110
~4 88 9~-90
4 87½ ll½-90 4 88 §-90
87)2:g 9¼-00 4 88
-90
87¼-8 9½-90 4 88
-90
87¼-8 9¼-90 4 88
-90
87¼-8 OJ.i-90
S.
87½-8 9_½-IIO 18s 9¼-90
6
"" 88 9½--90
87½-8 9a-90 4 88 flJ.t-90
87¼-8 ll. -90 4 88 9¼-90
87½-8 9 -90 {. 88 ll¼-90
87½-8 9½-90 4 88 9¼-90
87¼-8 9¼-90
S.
87¼·8 9½-90 4 88 9¼-90
8
87¼-8 U½-90 : ~
87½-8 9¼-90 oi tS8 9½-00
87½-8 9¾-90 4 88 ll½i-90
87½i-8 9½-90 4 88 9¼-90
87¼-8 9¼-90
S.
87¼-8 9¼-90 4 88 9~-90
8
s1 s 9¼--90
1tfouda.y.
Holld11.y.
. • • . • . . . . . . 4 Sb 9,¼-90
f> l
60J
!
ii~ : t
Day
of January.
February.
60 d. Sight.
B¼-4¼ 83-8½
. s.
84-4¼ 88-8½
84-4½ Si-8¼
84-4½ 8~3¼
Sl-4½ 88-8¼
84-4½ 88·8½
84-1½ 88-::!¼
S.
4 84 -1 88
83¼-4 ~7½-8
83½-4 87½-8
83¼-4 87¼-8
83¼·4 87½-8
83¼-4 87½-8
s.
20 ... 82½-3 4 87
21 ... 82½-3 4 87
22 .... 82½..:;l 4 87
23 . . 4 83_ 4 81
21 .. . 83-i:f½ 87-7~
25 ... 83-3¼ 137•7¼
26 ...
8.
27 . ... 4 84 4 88
28 ... 4 84 - 4 88
29 .... 4 84 , 4 88
SO .... 84-4½ 88-1<½
s1R~n:~½ sa-s½
83-3½\ 87-7½
83-3½ 8,-7¾
8:3--3¼_ 87-7¼
Holiday.
S.
82¼-3 66¼-,
4 82½ 41:ltHa
82-2½ 8.t-6½
82-~½ ~6-6¼
8 1½-2 85½-6
...... . ....
.. ... ••. .. •
• . . • . . • • . •. •
½L:
~:~=i!~J
J9 ...
8.
7
~~~~ s1~
July
s.
9½-90
9~-lfO
9¼-90
ll¼-90
s.
ll½-90
9¼-90
9½-90
ll¼-90
9½-90
9¼--90
S.
9¼-90
9¼-00
9111-90
9¼-90
87¼-8 89-9~
0
8
'n~~i~t- .
4 87¼
87-7¼ 88,½i-9
s.
87-7¼, 89¾-9
fl7-7½ 88½-9
87-7½ 1:!>.l¼-11
87-7½ 88¼-9
87-7¼ 88¼-9
87-7¼ 88¼-9
8.
87-7¼ 88¼-9
87-7½ 88¼-9
87-7½ 88½-9
87-7¼ 88¼-9
87-7½ 88¼-ll
87-7¼ 88½-9
4 SR 9~-90
4 es 9¼-IIO
4 88 ll¼-90
87¾-8 89-9¼
87-7i88¼-9
87-7¼ 88½-9
87-7½ 88½-11
86¼-7 88-8½
86¼-7 88-8¼
86¼-7 88-8¼
t~=ro ! ~ t~=~
4 8!:!
4 88
4 sa
4 88
4 88
4 88
4 88
4 88
4 88
4 &s
4 8~
4 88
4 88
4 88
ai ~"=~g~~~:nt~~
4 90
4 88
4 i ~ 4 8i
August.
~~t.
4 $1j 4 88
4 86
88
s~
4 86 4 88
4 SIS 4 88
4 86 4 88
85¼-6 4 &
4 8">½ 4 88
4 83½ 4 83
8.
4 85½ 4 88
4 85¼ 4 88
4 Sri½ 4 88
4 t!5½ 4 88
4 85¼ 4 88
4 85¼ 4 88
S.
4 95½ 4 88
4 85½ 4 88
4i
81\-o~ls7½-8
s.
86-a¼ 87½--8
. •• . •• . •. • . . ~-6 87¼-8
9¼-110 4 88 4 90
V¼-90 4 87½ 4 89
4 RS 4 89½
4 85¼ 4 87¼
October.
60 d. 8~1ght. :osf
~i~~
November. December.
g~J:2 ~ii~t. 60 a. 8~1ght.
Holiday. ~4§-1 88-8½ 81¼-2 4 86 81-1½ 85JE-6
4 5
~~ ~:i-~~ ~ 81½-28 4 86
85~
~ ~4 85 4 :-!8¼ 83-3¼ 4 88
Holiday. 4 81 4 85~
4 85 4 8-1½
S.
81½-2 4 86 4 81 4 85
4 85 88¼-0 82¼-3 87-7½ Sl½-2 8.5½--fl 4 s1 4 85
S.
82¼-3 87-7½ 81-1¼ 85½-6
S.
4 85 88½-9 83-8½ 87¼~ 81-1¼ 85¼-6 4 81 4 85¼
4 85 88½-9 4 83-4 87½-8
S.
4 81 4 85½
85-f;½ 88¼-9 83¼-4 4 83 81-1½ 85½-6 Sl-1¼ 4 85¼
85-5¼ 4 80 4 93¼ 4 88 81-1¼ 85~-11 81-1½ 4 85 1.6
4 85¼ 4 89
s.
Sl-1¼ Sf>¼-6 81-1½ 4 85¼
4 81'.l½ 4 89 4 83~ 4 88 4 81½ 85½-6 31-1¼ 4 85¼
S.
83-3, 87½-8 !il½-2 85½-6
S.
4 85¼ 4 89 82¼-, 87-7¾ 81½-2 85½-6 81-1¼ 4 85½
4 85½ 4 89 82½-3 87-7¼
S.
81-1¼ 4 85~
4 81>½ 4 89 82½-3 87-7½ 81¼-:& 85¼4\ 81-1¼ 4 85¼
85-5¼ SR¼-9 82½-3 87-7½ 81¼-2 85½-6 Si-1 '>§ 4 85½
84¼;5 88!{-9
S.
Hl½-2 85½-fl 4 81½ 4 85½
~~g~ ~ ~4.½-58~¼- 9 ~t~~ ~~~~z. ~t~ 5~ 6 4 Sl¼s~ S5½
85-r>¼ 4 88 84¼-5 4 88¼ 82-2¼ Sij½-7 4 81½ 4 StJ 4 bl¼ 4 85~
4 SIS 4 88 84',g-5 4 88¼ 82-2¼ 86½-7
S.
4 81¾ ~, $5~
s.
4 84¼ 4 8"1¼ 82-2½ Sil½-7 4 81¼ 4 sa
H oliday.
84-4¼ 87-7¼ 4 84½ 4 88¼ 82-2¼ 86½-7 4 81½ 4 86 81-1',(i 85-5½
84-4¼ 87,~~~ 4 84½ 88¼.:..9
S.
4 8L);S 4 8fi 81-1¼ 85-5~
8 7
9
481
85
484
½s~4fi~it~
s~
4 84~ 4 88¼ 4 84¼ 88¼-9 Sl½-2 4 86 4 81½ 4 86 4 80¼ 4 84¾
4 84½ 4 88½ . . . . . . . ..... 81½-2 4 86
.. . . . . . ..... 4 80 4 84
.
4 86 4 88¼ 4 85¼ 4 89 4 84 4 88),ir 4 82 4 811 4 81½ 4 RII
4 84 4 87 4 84½ 4 88½ 4 81¼ 4 i o 4 81 4 35¼ 4 so 4 ~4
! ~t i
l
i
i
!
!~f'rr
:
~i~~~ ~~t
March.
April.
May.
June.
Jul:r
August. Septemb'r. October. November. 'December
60 d. Sight. 60 d. Sight. 60 d. SiR'ht. 60 d. Sight. 60 d. SiR'ht. 60 d. Sight. 60 d. Sight.
d. Sight. 60 d. Sight 60 d Sight.
81¼-2 85½-6 4 85 87½-8 85-5½1 87-7½
S.
St½-5 88-8½ 85½ Sll½-90 Holiday. 82-2½ 87-7½ 81-1¼ 85½-8 82-2:½ 4 88 •
s.
85-5~ 4 8S 4 85 4 87 4 85 4 87 8t½-5 88-8½ 85½ 89½-90 82¼-:i 86-11½ 4 82½ 4 87½
S
82-i½ 87¼-8
81-1½ 85-5½ 4 851/4 4 88 4 85 4 87 84½-5 86½-7 4 !S5 4 Sl:I¾
S.
St½-3 86-6½ 82½-X 4 88 - 81-l½ 85½-6 4 82 - 81%-7
81½.:..2 85½-8 4 85~ 4 SS
8.
St¼-5 86¼-7 i H Ol"d
85¼ 89¼-90 4 83 4 86¼ 8..!¼-3 4 88
H oliday. 81½-2 85½ 6
1
4 813 86½-7 4 85;,ii 4 88 85-5~ 87-9¼ 85~5¼ 87-7¼1 S
ays. 85½ 81!¼-110 4 S::i 4 86½
S.
81-1¼ 85½-6 81:2 85-6
4 88½ 8,-7½
~.
85--5½ 8';-7½1 85-5¼ 87-7¼
S.
85½ Sll½-90 4 83 4 86½ 82½-3 4 83 81-1½ S'"i½-6 81-2 85-6
83-8¼ 86½-7 85½-6 83--~
.
85-5¼ ll'l'-7:½! 4 85½ 4 87½ 4 85 4 88¼ 85-5¼ 89·9¼
S.
- 82-:&½ 87-7½ 80~-i 85 ½-6
S.
83-3¼ 86½-7 85¼-6 f;S-8 85-5½i 87-7½!
S.
85-5¼ SS½-9 4 85 4 811 82¼-3 86-6½ 4 82 4 87 • 80½-1 8J½-6 80-1 84½-5
S.
4 86 4 8
85-5~ 87-7~ 85~-6 4 87¾ 85-5¼ 4 89 4 85 4 89 4 82½ 4 86 4 8-& 4 87
S.
~0-1 84-5
83-3¼ 4 86½ 8643¼ 88½- 85--5½ 87-7¼ 85 -6 8:l-8g 4 85½ 89-9¼
S
4 82½ 4 86 4 82 4 87 4 80½ 4 86 80-1 84-5
82½-S 86-11¼ 86-IS½ RS¼-9
S.
4
4 88 4 85¼ 4 89½ 84¼-5 88½-9 82-2¼ 85½-6 4 82 4 87 4 80½ 4 81 80-l 84-5
821,t\-:! 86-6½ 86-6½ 88¼-9 85-5½ 87-7½ 4 86 4 88 4 85½ 4 t:19,li 84-4½ 88-M½ 4 82 4 85½
S.
4 80½ 4 86 79½-1 84-5
4 8-&½ 4 85½
S.
85-5¼ 87-7¼ 4 86 4 88¼
S.
84-4½ 88-8½ 4 8~ 4 85½ Sl¼-2 86¼-7 4 80½ 4 86 79.½-J 84-5
4 82¼ 4 95¼ 4 86 88-8¼ 4 85 4 b7 4 86 4 88,¼ 4 85¼ 4 89a 4 84½ 4 88½
S
81-1½ 8~½ 80-0½ 85½-ll
- S
4 82½ 4 85½ 4 Sil 83-8½ 84¼--5 86¼-7
S.
4 85 4 89 4 84¼ 4 811¼ 4 82 4 85¼ 4 81¼ 86--!S½ 80-0½ 85½-6 79½-1 84-5 f:
s.
4 86 4 88 4 8:i½ 4 SJ¼ 4 86 4 88; 85-5½ 89-9 4 84¼ 4 88½ 81½-2 85-5½ 81-1¼ 86-6¼
S - 80-i 8<1-5
4
86
t2~~tH5~~~
~j~~t~M 484½84 .88½~ut:~g~~t½~it3tHg=~H; fo~-1 ~t~¼
tl4¼s~ ¼
4 83 4 Sd
4 86 4 88
84---l¼ 86-6¼ 4 M 4 gg 85-5½ 81)-9~ 4 84 4 88 81¼-2 85-5¼
-8
80-0¼ 87-7¼ 81-l¼ 85-5~
8!!-3¼ 811-6½
SI.
4 Si 4 86 4 86 4 8/:1
S.
4 84 4 88 81½-2 85-5½ Sl-1¼ 83-6½ 80-0½ 87-7½ 81-1½ 85-5½
1<8-3½ 8"-fl¼ 4 86½ 8'W3~ 4 81 4 86 85¼-6 88-b¼ 85-5½ 89-9¼ 8':. i¼-4 tJ7½-R
S.
81-1½ 81-6½ 80-0½ 4 87¼
S.
8.3-3¼ 66-6.!6 4 8t1¾ 58-8¼ 4 84 4 8(;
S.
85-5½ SQ-9¼ 4 83½ 81¼;-7 81¼-2 85-!">¼ Stl~ 2 86½-7 80-0½ 4 87¼ 80-1 ¼ 85-5',g
S.
4 86½ 88-8½ 4 81.. 4 86 85¼-tt 88-8½ 85-5¼ 89-!l¼ 4 SJ½ 86½-7 81-1½ 85 -o¼ 4 8-& 86½-7
S.
80½-i 4 85
4 83¼ ~ 86½ { Afl¼ 88--<½ 4 81 4 tS6 85½.-6 4 ~ 4 85¼ 4 89¼,
S.
81·1¼ t-15-5½ 4 82 86¼-7 81¼-2 4 RS 8Ll-f 84¼-5
83½-4 811½-7 4 811 4 88
S.
85~-6 4 fil8¼ 4 85~ 4 S<l¼ 4 S't½ 4 87 81-1 ¼ 4 85½! 4 82 86½-7 r.2:2½ 88-8½ H oliday~
4 84~ -187½ 4 8:S 4 8; 81½-5 86½-7 85-5¼ 4 88½ 4 85¼ 4 89½ 4 83½ 4 87 St-1½ 4 85½;
S.
4 82 4 88½ 80-0½ 84¼
Ht~-5 RZ¼-8
S.
81½-5 86¾-7 85-5¼ 4 88!,ji
s.
83-3¼ 6~-7 81-1½ 4 85½ 81¼-2 86-f.\½ H oliday. Su-0½ 84-¼
4 So 81½-8 4 Sf\ 4 BS 85-5¼ 87-i½ 85-5¼ 4 88½ 4 85½ 4 89½ 8·l½-3 86..:.fl¼
S.
81½-i 86-6½ 82-2½ 4 8-"l¼
-8
4 85 87½-8 4 ~¼ 87¾-8 85--5½ 8,-7¼
"5.
4 ~¼ 4 t-C9½ 82½-3 86'..6½ 4 81½ 4 86 81½-2 Sij-6½ 8~2½ 4 88,½ 80-0½ 84•4s
8.
85!,ii-6 87½-8
Holiday. 4 85 4 88½ 4 85¼ 4 89½ 82½-8 86-6½ 4 82 4 86 81-1¼ 85¾-6
s.
80-0¼ 84-4
4 85 _,. 87¼-8 . . . . . . . . . . . . 85--5½ 87-7½ . . • . • • • • . . .. 4 85½ 4 89½
s. • _,. ... . ..... 81-1~\\ 85½-6 . . . . . . . ..••. so-o½ 81-4
60
:gg !~
!~ ::
lligh4 84¼, 4 88~ 4 84¼ 4 88¾ 4 85 4 8-l 4 811½ 4 88 4 85¼ 4 87¼ 4 86 4 8~¼ 4 86¼ 4 89½ st 85¼ 4 90
L ow. 480¼484¼ 48l½485¼i 481½485¼ 485 487½ 481 4 86
484¼486k; 4S4½48':l 482½486
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Se-ptemb'r.
~oJ. i~:!_1-Jo i~~:8 ii:i~ ~OJ.
8~=~ ! ~ S.t~=~
4 89¼ . . . . . . . . . . .
S.
Ran~~
High 4 87 4 89¼ 4 87 4 89½ 4 87 4 89¼ 4 88
Low. 4 84¼ 4 89 4 86¼ 4 b9 4 86¼ 4 89¼ , 87
:M on.60 d. Sight.
1. .. • Holiday.
2 .... 4 80½ 84½-5
8 .... 4 80¼ Si½-5
4 .•.• 4 80½ 84½-5
S.
5 ... .
6 . .. 80¼-184½-5
7 ... Sl-1½ 85-5½
8 .... 82-2½ 4 86¼
9 . .. S'a-2½ 4 811¼
10 .... 4 83 4 87
11.•• 4 83 4 87
12 ••.
S.
13 .... 4 83 4 87
14 . . .. 82½-3 8'1½-7
15...• 82½-8 86½-7
16 ... 82½-3 8tl½-7
June.
1891.
4 83
481
4 86¼ 4 83
485 481
4 88 4 82¼ 4 88½ 4 82¼ 4 S8 .
485½480 485½ 479½41:!4
INVESTMENTS AND SPECULATION.
INTEREST AND
INCOME TABLES.
In purchasing se0urities for investment, the important points considered are the following: first, that the
rprincipal and interest shall be secure beyond q estion; second, that the profit, or annual rate of interest realized
on the outlay, shall be satisfactory; third, that the securities purchased shall be readily salable; and, fourth,
with parties engaged in active business, that the securities shall be available to pledge as collateral for loans in
case it is desired so to use them.
The great bulk of investments in stocks and bonds is divided among (1) U. S. Government bonds, (2)
State, city and county bonds, (3) bonds or stock s of corporations, (4) bonds and mortgages on real estate.
As a general classification of these several forms of investment, the most obvious one is that which divides
them into two sorts; first, those depending on the character, standing and permanent solvency of the party
issuing the obljgation; second, those having a lien on specified pieces of property, and dependent mainly on the
value of such property for their security. In t e first class belong the U. S. Government bonds, State bonds,
city bonds, county and town bonds, and the stocks or plain bonds of corporations. In the latter class belong
the mortgage bonds of railroads or other companies and real estate bonds and mortgages. This distinction is
mainly important in presenting to the investor the option of trusting to the integrity and probable permanent
stability of the government or corporation issuing a stock or bond, or, on the other 11and, of trusting in the value
of a specified piece of property in a certain location, on which his bond is secured. The circumstances pertain··ing to rai.lroad mortgages are usually ascertainable to a certain exte-at, as the financial condition of the respective
railroad corporations is known. But the securitey of mortgages on real estate depends so greatly on the local
:value of the property as to require a special examination by the borrower or by some good and substantial
mortgage company acting in behalf of its clients.
I TEREST A D INVESTMENT TABLES.
The tables following show (in the "Compound Interest 'l'able" J Lhe accumu!aLiou of prindpal and interest on one dollar a.,
l'!trious ra tes per :mnum from 1 to 10 per cent, interest being compounded semi-annually, and (.in the" Tables for Investors "
!;he rate p er cent per annum realized on securities purchased at various prices, from 10 to 300. Thus, by use of the table!'!, it.is
meen at a glance that a 7 per cent $1,000 bond purchased at 86 pays 8·13 per cent a year on its cost. '£he accumulation of prin•
cipal ~nd interest is seen to be in five years $1,410·50, in ten years $1,989·70, which in this case would b~ the result of an outlaJ/
nf $860, provided the interest was re-invested semi-annually.
COMPOUND INTEREST TABLE.
2 per
cent.
1 per
cent.
Number of Years.
½.3·......
:::::::. ....................
:::::::::::::::::: l $I1:·0303
g}gi
:::::::::::::::::::·::::::::!
nm
6··· ....... . ............ ···· 1 $1 ·0616
.[:::::::::::::::::::::::: I
$1 ·o~Ol
1 · 1494
1 · 1725
1' 1961
1 ·22:11
·1 ·2446
1·2696
1 ·2952
1 ·3212
1 ·3478
$! ·3748
1 ·4025
! ·4307
1 ·4594
1 ·4888
$1 ·5]87
1 ·5492
1 ·5804
1 ·6!21
, 1 ·6445
$1·6776
1 ·7113
1 ·7457
1 ·7808
I 1 ·8166
$1 ·8400
1 · 8800
1 ·9171i
1 ·9562
1 ·9955
$i ' 0356
2·0765
2·1183
2·1608
2·-J043
I
½:::: ::::::::::··:::::::::::: I i: i~ I
16 .. ··· ······ ............... , $1.li40
I
1 · 1394
.iL:::: : : : : : : : : : I H~i I
~f::~::::::::::::::::::::::: II $ri~g
24 ............ .. ........... ··
1·2716
1 ·2843
25... .. . . . . . . . . . . . . . . . . . . . . . .
26 · · • ········ · ·-·-··· ···· · ·· 1 ·1·2973
27 ... . . . . . . . . . .. .... .. .. ....
1 ·3103
28. .. . .. . . . . . . . . . . ... . . . . . . . .
1 ·3235
29......... .. . . . . . . . . . . . . ...
1 ·~367
1 · 3501
30 .. . .. . · . . . . . . . . . . . . . . . . . .
IF:+ :++ I imi
-
$1.d:id7
3 6 ........... .... .. ..... .... · 1 $1 ·4334
37.. . ............
. . .. ....
1·4478
1·4623
l ·4770
l ·4918
38 ... . . ..... ........ .... ....
39 ... .... ,............... . ...
40 ... . . . . . . . . . . . . . . . . . . . . . .
M::::::::::::::::::::::::::: $nm
1
lt ::: :::: :::: :::: :::· ::::::::I
46
47
48
49
~
i :~~~
.......... .. ........... ··--1 $1·5858
................ .. . .... ....
1·6017
....... ........... ........
l'til78
....... .... .. . . .. ........
1"6330
.......... . .... ............
1·6494
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
I
$1 ·1956
1·2317
1·2689
2 ·6367
2·6897
I
$1·0404
1 0824
1"1261
1·1715
1·2188
I
$1 2681
1·3193
1'3"126
I/
I
4~ per
cent .
$1·0455
1 · 0930
1·1438
1·1948
1·2481
I
$1 ·3004
1·3643
1·4264
I
5 per
cent.
$1·0506
l' 1028
11596
1·2184
1·2soo
I
$1 "3448
1·4129
1·4g45
iI
I
I
6 per
cent.
7 per
:ent.
17 3-10 per
)
cent.
$l·Ool.M
$1·0112 /
1 · 1475
1·2292
1·3168
1·4105
$1 0743
$1 ·42571
1·5125
1·6047
$1 ·5110
1·6186
1·7339
$1 ·5360
1·6502
1·7729
I
1 · 1~55
1 ·1940
1·2667
1·3439
I
1 · 1530
1·2387
1·3308
1·1298
II
j
l
I
1
10 per
cent.
8 per
ceut.
$!·0816
1 · 1692
1·2646
1· 3678
1·.i794
$1·1025
1 · 2155
1·3400
1·4773
1·6287
$1 ·6U0i
1·7307
1·8720
1 ·7957
1·9747
2·182.·
I i. :~ii n~ j n~i~ -1...,.s-1rf:: _ ngif n~i~ n~ii r ~~~ n~i
I
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$1 ·3a1s / $1 ·5458
$1 ·6301
·-7--23_"_1_$_1...,.·9-15-1--'-l-$-2-·1-rj-15---'--$-2·-rn-.8-:l-1=---2·3-fiS-1--'--- 2--9-250
1 ·4295
1 ·6082
1 ·7044
1 ·80 6
2·03~6
2·2833
2·3617
2·5619
3·2248
1 ·4~27
1 ·6732
1 ·7820
1 ·9001
2·1564
2·4459
2 5372
2·7710
3·5553
. 1·5112
1·7408
1·8631
1·9963
2·2878
2•fi201
2·7258
2·9971
3 ·919s
I 1·5630
1·s111
1·9479
2·0933
2 4271
2 ·8068
2·9281
3·2417
4·32::s
$1 ·6103
$1 ' 8813
$2·0.'%5
$2·2027
$2·5749
$3·0067
$3 146!
$3 ·5062
4·7645
2·1317
3 ·2208
3·38(10
3 ·7023
e·2529
1 ·6589
1·9604
2·1272
2·3142
1·7091 j 2·039r1
2·2240
2·4313
2·s981
3·4502
3·6312
4•1018
5 ·78!IB
1 . 7607
2 · 1220
.2. 3252
2. 5544
3 · 0746
3 . 6960
:i •9011
4. 1365
6. 3816
7·0362
1 ·8140
2·2018
2·4310
2·6837
3·2618
3·9592
4·1911
4 ·7!J85
$1 · 868--=-6--,-1--$:-::2-=·2,..,...97=0,--1,...-:-i2=-·u-,-1-=-5-c-l-:$=
.2-:
· 8,..,..rnc-=6-1'--$,....,3-.4...,,60=5---'-j-$-4·-24-1~2-'--$- 4-.r-.-0-26--'--,-$-5 .-190-0-'---$-7.75-74·
2·65';'2
2 9624
3·6712
4·5433
4· 373
5·6136
8·5525
1 ·9253
2 ·3898
2·4863
2 · 1781
3·1123
3·8948
4 ·8669
5·1969
6·0716
9·429~
1 ·!J835
2 -0434
2·5868
2· !,045
3·~699
4·1320
s ·2136
5·5832
6·5670
10·3957
2·6913
3 0367
3·4354
4·3836
5·5849
5·9982
7 ·1030
11·4612
I 2·1052
$2·1688
$2 ·sooti
$3·114!!
$3·6094-'c,-$.,....4.,....·6
....,
,50
..,,.6-.-- ,-.,.,-5-·y=82--7--$-.6-··4_4_41--'-1-$-7·-68--2-t:i-'--$--1~2-·6__,
359
2·2344
2•q131
3·3193
3·7921
4·9338
6·4068
6·9231
8·3094
13 ·9311
2·3019
3 ·031s
3·4703
3 ·9841
5·2343
6·8653
7·4377
8·9875
15·3591
2 ·3715 , 3· 1543
3·6282
4·1858
5·5531
7·3543
1·0906
9·7208
rn·!J334
3 ·7!J33
4 ·39i7
5· 8913
7 · 8781
8 · 5846
10 · 5143
18 ·6691
2 ;4432 1 3 ·2818
~2·5170
:$3.4144
$3·9660
$4·6203
$6 ·2500
$8·4391
$9 ·2227
$11 ·3742
$20 ·5827
2·5931
3·5523
4·1465
4·8542
6•fi3(l7
!1 ·0402
9·!J087
12·3024
22·6!:124
2·6715
3·6958 ~ 4·3~51
5 0999
7·0345
9·6841
10 ·6453
)3 ·3062
25 ·0184
2·7522
3·8451
4·5324
5·3581
7 ·4629
10 3738
11 4366
14·3920
27·5828
2·8::54
4 ·0005
4·'1387
5·6294
7·9174
11 ·1126
12·2867
15·5664
30·4og1
$2"9211
~Klti21
$4·954::1
$5·9144
$8·3!J96
$11 ·!J041
$13 ·2000
$16·8367
$88·5249
3·0094
4·3302
5·1798
6·2138
8·9111
12·7620
14·1811
18 ·2105
36·261 :l.
3·1004
4 5052
5·4146
6·5284
9·4538 f 13·6709
15 ·23531 J9·fi965
<10·7497
3. 1941
4. 6872
5. 6610
6. 8589
10 · 0295
14. 6446
16. 3677
21. 3038
44. 92ti6
17 ·5S44
23·0422
49·5316
3·2907
4·87fi6
5·9288
7·2061
10·6403
15·6877
·a.;;\101
$5·01.:16
$6 · rn86
$7·5709
$11·2883
$16·8050
$18·8915• 1 $24·!J224
$54·6086
3·4926
i;·2785
6·4807
7·9542
11 ·9758
18 ·0020
20·2956
26 ·9561
60 ·2059
6·7756
8·3569
12·7051
19·2842
21 8043
2!l·1857
66·3771
3·5982
5·4928
3·7070
5 ·7147
7·0840
8·7800
rn·ss32
20·6577
23·4250
31·5348
73·1807
14· 7287
22·1290
25·1663
34·1080
80·6817
3·8191
5·9156
1 ·4062
9·2245
$3·9345
$6 · 1858
$7·7430
$9·6915
$15·62571 $23 ·70521 $27 0369
$36·8813 . ,$8ti·9516
4-0432
6·4357
8 0954
10 ·1822
16·5773
25·3936
29·0466
39·8908 ·""' 98·0692
6·6957
8'4638
10·6967
17·5868
21 ·2022
81'20571 43-1459
107·1213
4·1655
4·2!J14
6"9662
8·8490
H·2383
18"6597
29·1397
83·5253
4!1 ·6666
118"1019
4·4211
7 •2477
9·2s16
11 ·so72
19·7941
31 ·214'1
86·0154
5(>-4716
130·2066
I
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l
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I Ji · ~48ti
2·2938
I 2 ·3399 I
I ng~~ I
$2·4838
I 2·5338
2·5847
i
4 per ·
cent.
cent.
$1·u30i
1 ·0406 I 1 · 0613
1·0934
I 11 ·0615
1·1264
·1045 I 1·1505
I $1·! ·0828
i267
rnff I
u::: . :::::: :::::::·:::::::: I $rm~
13....... . . . . . . . . . . . . . . . . . . . .
3 per
I
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1'A13LE FOR INVESTORS.
The following t8,ble shows the ra.te per cent of annual income to be realized from stocks or bonds bearing any given rate of yearly dividends or interest, from 1 to 20 per cent, when purchased a.t varioua
prieeR from 10 to 300 per cent. This table applies equally well to both stocks and bonds, and has nothing to do with the length of time which a bond has to run to maturity.
~ For example: To ascertain what rate of annual interest will be realized on a bond or stock which bears 7 per cent per annum and can be purchased at 92 (i.e. at 92 per cent of its par value, whatever
the par may be), find 92 in the colWllll of '' purchase price" and follow that line across to the column headed "7 per cent," which will show the,..correct figures-in the present lo.stance 7·60 per tent,
Parchase Price.
.
-
,j
1 per
cent.
Ij 1¼cent.per 12cent.
per I 2¼ ~er I 3 per
I ctint. I cent.
10 .......... ············ 1 10
6·6q
15
...... ···········•· ···
.20 ·······················
.22 ·······················
.24 ··········· ··· ········· ·
.26
···
' ....
.28 ····················
30
..................
·······················
82 ···········
····· .. ....
....
34 ······ ············
36 ··········· .... ....... · 1
38 .....................
40 .................. ....
42
44 ··········· ···········
46 ·······················
······· ....... ....
.. · 1
................
......
......................
........................
52 ···················· ···
53 ............. .... ···· 1
54 ...., ..................
55
48
50
51
5
4•54
4 • 16
3"84
3·57
3 ·33
3 · 12
2 ·94
2·77
2 ·5-3
2·50
2'38
2·27
2·17
63
64
2
1·96
1 92
1' 88
1 ·85
1 ·s1
1·1s
....................... . 1·75
1·72
1 '69
.,.
1'66
l '63
1·61
·· •••..• • ••••. •••. • ¥
· 1 1'58
1 56
1·53
1·51
1·49
1·47
1·44
'1"42
1·40
1·es
1 36
•••••••··•••••• ·•··•·· 1 1·35
1·33
t ·31
1 ·29
....
65
66
61
......
········· ···
·······················
·········•·············
.......................
68 ·······················
69
70
'11
72
'73
:·::::::::::::::::::::: ~
:::::·::::: :::~:::::::: l
74
75
76
77
78
7 !)
80
81
82
......................
······· ············
·······················
········ ··· ·······
83
.......... ······· ···· 1
......................
...................
......... .............
........... ............
84
85
86
87
88
I
I
2·oe
·······················
·······················
is .............. ······ 1
59 ............. .........
60 .......................
61 ............... . .....
62
56
57
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90
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
~
..
1·11
5
4"68
4-41
4 ·16
3 94
3 75
3 ·57
3•40
3'26
3 •12
3
2·91
2·ss
2 83
2·77
2·72
2'67
2"63
2·58
2·54
2·50
2·45
2 · 41
2·3s
2·34
t·3()
2 · 27
2·23
2 ·20
2·17
2·14
2 11
2·os
2 05
2·02
2
1·97
1·94
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1 ·20
1 ·19
1 ·17
t ·1fi
1 · 14
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1 ·12
15
10
7·50
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6 "25
5 ·76
5·35
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1 ·so
1"78
1'76
1 ·74
1·72
1 70
1·68
1 ·66
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13·33
10
9 ·09
8 ·33
7"69
7•14
6·66
6'25
5 ·88
5•55
5 ' 26
5
4 ·7G
4-54
4 ·34
4·16
4
3·92
3·84
3·77
3 "76
3·53
3·57
3·50
3·44
3 38
3 3-3
3-27
3·22
3· 17
3·12
3·07
3-03
2 98
.2 94
2 89
2 -~5
2·s1
2·77
2·73
2·70
2 ·G6
2 ·53
2·59
2·40
2 ·38
2 ·35
2'32
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12 ·50
11·35
10·41
9·61
8·92
8'33
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7·35
6·94
6 "57
6·25
5·95
5·68
5·43
5 ·20
5
4·90
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cent.
.• I
20 . ..;
15 -·
13·63
12·50
11.53
10·71
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1·38
1 ·35
1 ·31
1 ' 28
1 ·25
1 ·19
1·13
1 ·11
1'08
J ·04
1
·!JO
I
a·29
3·26
a·22
3· J9
3·15
3·10
3·09
3·06
a·o3
3
2·97
2 ·94
2 ·1"11
2 ·88
2 ·s5
2'83
2·so
2 ·77
2 75
2 ·72
2 70
2 67
2"65
2 ·63
2·60
2'58
2 ·55
I
I I
I
I
I I
I I I
I I
I I
I
I
I
I
I
I
•fjq
I
I
I
I
I
2 54
2·52
2 50
2·47
2·45
2·43
2·41
2·40
2·30
2·22
2·14
2·06
2
1 '!l3
1·87
l '81
1 "76
1·71
1 ' 66
l ' 62
1·57
1 ·53
1·50
1 ·42
1 '36
1 · 3,'3
1'30
1-~
,:·21;
1·09
1.
4 per 14¾ per
cent.
cent.
13¾ pct
cent.
8'84
3-so
3 ' 76
a·12
3 ·68
3 ·64
3·00
3·57
3 ·53
3·50
3 ·4 5
3·43
3·;9
3'36
3·33
3·ao
3'27
3 24
a ·21
a·1s
3·15
3·12
I
I
I
I
I
I
I
I
I
a·o9
8·07
3·04
3 ' 01
2 · 99
2·96
2·94
2 ·91
2 ·89
2·86
2 ·84
2·s2
2 ' 80
2'69
2 ·59
2 ·50
2 · 41
2 · 33
2·25
2·18
2·12
2·05
2
1 ·94
1 ·s9
1'84
1 ·79
1· 75
1 "66
1 · 59
1·55
1·52
1 ·45
1 ' 40
1 ·27
l '16
I
I
I
I
I
I
I
I
I
I
4·39
4-34
4·30
4-25
4·21
4·rn
4·12
4'08
4·04
4
3'9fi
3·92
3·88
3'84
3 -so
3·77
3·73
3·70
3·66
3·63
3'60
3 ·57
3-54
3·50
3-47
3 -44
3·41
3 ·::.8
3"36
::, 33
3·3()
3·27
3·25
3·22
3·20
3'08
2·96
2· S
2·75
2"66
2"58
2·50
2·42
2·35
2·2s
2· · 2
2 · 15
2·10
2·05
2
1 ·90
1 ' 81
1 ·77
1 ·73
l '66
l '60
1 ·45
1·33
I
I
per
Il 5cent.
4-114
4"89
4 ·83
4 '78 J
,1-73
4 '68
4 ti3
4 ·59
4-54
4·50
4·45
4'41
4 ·36
4~
4'28 1
4·24
4·20
4·16
4·12
4·09
4·05
4·0t
3·!18
3·94
3·91
3 87
3'84
3·81
3 78
3 'l5
3 71
3 ·68
3·65
3 '62
3·60
3'46
3·33
3·21
3·10
I
I
I
I
I
I
I
I
I
I
I
I
I
'
I
I
I
I
I
I
I
8
2·110
2·p1
2 72
2·54
2·57
:l ' 50
2·43
2'36
2 ·30
2·25
2·14
2 ·04
2
1·97
1 ·87
1 ·so
1 ·5·3
1·50
5·49
5-43
5·37
5·31
5·26
5 -~u
5·15
5·10
5·05
5
4'!15
4-90
4·85
4'80
4 '76
4 ",l
4'67
4'62
4'58
4-54
4·50
4'46
4 ·42
4·88
4·35
4·31
4'27
4 23
4·20
4'16
4'13
4'09
4·06
4·03
4
3 '84
I
I
I
per
( 5¼
cent.
I
I
I
I
I
I
I
I
I
3·70
3·57
3 -41
3-3,3
3·22
3·12
3·03
2·94
2·s5
2 ·77
2·70
2·63
2 ·f.6
2·50
2·3s
2·27
2 ·22
2·17
2·08
2
1 ·s1
1 ·fi(l
I
I
6·04
t,·97
5 ·91
5'85
5 ·7g
5·72
5'67
5 "61
5·55
5 50
5·44
5·39
5 ·:;3
5·f.!8
5·2.'3
5 · 18
f\ 14
5"09
5•0i
5
4'!!5
4·90
4· fi
4'82
4 ·7q
4·74
4'i0
4·66
4·62
4'f8
4·54
4·50
4 · 47
4·43
4 '40
4·23
4·07
3 · 92
3''i9
3·16
3·54
3•43
3· 3
I
I I
I
I
3·2.q
~-14
:1·or-.
2·97
2· 9
2·s2
9•75
2·51
2·50
2·44
2·:l9
2·29
2·20
2
1·~
E 'TC R
I
6 per
cent.
I
I
tj·59
6·02
6'45
5'88
6·a1
ti'25
6·18
ti'12
6·(,6
ti
5114
I l
I
j
I
I
I
i;-71
b'ti6
5 ·&'.)
f>·55
5 ·50
5 ·45
5'40
5·35
5''30
5 ·26
5·2t
0·17
5·12
5'08
5·04
5
I 4·y5
. 4·91
4 ' 87
4·F3
4't0
4'til
4'-'i4
4'28
4'18
4
0·~7
3·75
3·63
3·52
3·42
3-33
3·24
3·15
3·07
I
I
I
I
I
I
7·14
7'06
6"98
6·~1
6·84
ti•n
6·69
6 ·68
6'56
5·50
;; ·4.1
6·37
6·31
6 '25
I
I
I
Ia I
2·85
2 ·72
2·66
2·60
2·r.o
22 · 40
1s
2
tj·l()
b'li.l
6'0';'
6"01
5 · 96
5·90
5·85
5 ·8o
5·75
5·70
r,·55
5·60
5·55
5·50
5"46
5-41
5·:-j7
5•32
5·28
5·2-t
5 ·20
5
4"81
4 · 64
4 '<.18
4•33
4 ·111
4'06
3·93
3·82
3 ·71
3'til
3·51
3·12
3·33
3·25
3.09
2·95
2·s
2 ·s2
2·70
2·00
2 ' 86
2·16
I
I
7"ti9
7·fio
7·52
7·44
7·35
7 29
7 · 21
7·14
I
I
I
I
I I
II I
I
I
I
7 per
cent.
6JOer
cent.
ts·as
5 ' 82
5''76
-(CONCL UDED).
I
I
.
I
I
1·0~
7
6'!J3
0 ·86
6 '79
6·72
6'66
6blt
5·54
6'48
6 '42
6 ' 36
6'30
6'25
G·J9
fi•14
11·os
ti ' (l;i
5'98
5•93
5·88
5·63
5·7s
5·73
5"fi9
5·65
5'60
5·38
s·1s
5
4·82
4 "66
4·51
4·37
4·24
4· 11
4
3· 8
3·78
3'6i
3-ss
3·50
R·S.3
3·18
3·11
3·04
~-91
2·80
2 ·54
2·33
I
I
3-10 I 7¼ per
IIpr7 cent.
! cent.
I
I
I
I
I
I
s·o2
7·93
7·84
7''i6
7 ' 68
7'60
7 ·52
7·45
7·37
7-30
7·22
7'15
7·08
1·01
6'95
ti'8:l
6'fl2
(i·75
6·6;)
6·63
5·57
0·51
I
I
I
I
I
I
I
0'4(\
6'40
6'34
6'29
6"28
6"18
6"13
6·~8
6'03
5'98
5-9:-3
5·88
5·8o
5"61
5 ·33
5 · 21
5 ·03
4'86
4·70
4·56
4-42
4·29
4'17
4'05
3·94
3·84
3 -~9
R·65
3·47
3·31
3·2,1
3·11
3·04
2 '!12
2·65
2·40
I
I
I
I
I
8·24
8 ·15
8'06
7·97
7·89
7'81
7·73
7·65
7·57
7 ·50
7·42
7·35
7·23
7·21
7 ·14
7·07
7
6"94
6 '88
6"81
6'75
6'69
I
I
I
I
l
I
I
I
I
8 per
cent.
.
0 08
I
I
I
I
I
I
6'57
6'52
6'46
6 ' 41
6'35
6"30
(i·25
6'19
6 "14
6·09
6'04
6
5 ·76
5 ·55
5 ·35
5-17
5
4·83
4·6S
4·(A,
I
4 ·411
I
{'
4-1~
4 ·05
3·!14
3·84
3 ·75
3·57
3 -40
3 ·33
3 26
3·12
3
2·~
s·79
8"fi9
8 · 60
8·51
8'42
s·33
8·21
8'16
s·os
8
7·92
7·84
7·'i6
7 69
7·6!
7·54
7·47
7·40
I
I
I
I
I I
I II'
I
2·50
(
7 '3.'3
7·27
7·20
7·14
7 c,
7·01
6'95
6'89
6'83
6"77
6'72
6'66
6'61
5·55
6"50
6 ' 45
6'40
6'15
5·92
5-71
5·51
5·3Jl
5"16
5
4 ·8 1
4 ·70
4 ·57
4·44
4-32
4·21
4·10
4
3·so
3"63
3·55
3·47
3•33
3·20
2·90
2·(i6
I I
per
8¼
cent.
I
I
I
I
I
I
I
I
I
I
I
I
I
9·34
9·23
9·13
9-04
8·94
8·e5
8·rn
8"67
8"58
·50
8'41
8'38
3·25
8·17
s·o9
s·o1
7 .94
7"87
7·79
7 ·72
7'65
7·58
7'1'>
'?'46
7·39
~-32
7 ·26
7·20
7· 14
1·os
7·02
6 '96
6 "91
6 '85
6"80
6 ' 53
6 ·29
6'07
5 ·86
5·66
5·4g
5·31
5-15
5
4·e5
4·72
4 -59
4-47
4-35
4·25
4-04
3·86
3·77
3'69
3-54
3'40
3·09
I
I
I
I
2·sa
9 per
cent.
I
I
II
I
I
I
I
I
I
I
I
I
9"89
9'78
9•fi7
9·57
9 ·47
9·37
9 ·27
9'18
9·09
9
8'91
8 ·82
8'73
8 ' 65
8·57
8·49
8"41
8 '.':3
s·25
8'18
8 10
s ·o3
7'H6
7·89
7'82
7·75
7'69
7"62
7"56
r;-·e-o
7·43
7 ·37
7·31
7·25
7·20
5 ·92
6"66
6"42
6·20
6
5·80
5·62
5-45
5·29
5·14
5
4'86
4·73
4 ·61
4'50
4'28
4 ·09
4
3 ·91
3•75
3 '60
3 27
3
per I
19¼cent.
l
JO per
cent.
10·44
10·::i2
10·21
10 ·10
10
9"89
9·79
9'69
9 -59
9·50
9·41)
9·31
9·22
9·13
9· 04
8'!l6
8·87
8'79
8 ·71
8 ·6S
8'55
8'48
8 ' 40
8·a.'3
8·26
8·18
8 . ,1
8'05
7'118
7·31
7·g5
7'78
7·72
7'16
7·60
7·30
7 ·03
6'78
6·55
6"3.'l
0·12
5 ·93
5·75
5·58
6'42
5·27
5· 13
5
4'87
4·75
4·52
4'3!
4·22
4·13
3·90
3·80
3 ·45
10·98
10·86
10·75
JO•ti3
10·52
10'41
10·30
10·20
10·10
10
!!'90
0·20
9·70
9"61
9 ·52
!1·4:1
9 -34
9"25
9'1i
9·00
9
8·92
8 ·84
A·77
8'69
S•til
8"54
8'47
8 411
8·a3
I
I
I
I
I
I
I
I
I
I
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Il I
I
I
I
I
I
I
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I
I
I
I
I
I
I
I
I
8·16
I
11 per
cent.
1:1 ·26
8 ' 19
s·rn
8 06
8
7 ·69
7·40
7 14
6 ·89
6'66
6'45
6·25
6·06
5·88
5·71
5·55
5·40
5·26
5 "13
5
4'76
4•54
4,44
4:34
4 · 16
4
~·M
8'38
12·os
11 ·95
11·s2
11·70
11 ·57
11 ·~6
11 ·3i
11 ·22
I
I
11·11
11
10'89
10"78
10"67
J0 ·57
10 ·47
r
I
I
10·2s
lO 37
10·1s
10·09
10
9·90
9·s1
9·73
9'64
9'56
9'48
9·40
9·32
9-24
9'16
!f'09
9·01
3·94
8'87
s·so
8'4fj
8 '1 4
7'85
7'58
7·33
7'U\J
6'87
6'66
6 "47
6'28
6'll
5 94
5 '78
5·64
5•50
5·23
5
4·88
4 ' 78
4·58
4 ·40
4
8 "66
I
I
I
I
I
1 12 rer
15 per
cent.
cent.
I
I
I
1:-i·1s
13'04
12·90
12·75
12·6~
12 ·50
12·37
12 ·24
12 · 12
12
11 '88
11·•;5
]1 ·65
11·53
11·42
11·32
11 ·21
11'1!
11
10'90
10·s1
10·71
10'61
10·52
10·43
10·34
10·25
10'16
10'08
10
\!'91
9'83
9"76
9·67
9·60
!1'23
8'88
8·57
8·27
8
7'i4
7·50
7·27
7·05
6 '85
ti'61j
6"48
6·31
6'15
6
5·71
5·45
5·33
5· 21
5
4'8()
4'36
4
I
I
I
I
I
I
I
I
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Jti·4S
]6·30
16·12
15·95
15"7'8
15"72
15'46
15·30
15·15
15
14 ·85
I
14-70
I
14'56
14 42
14'2R
14· .i5
H·0l
13 '88
13'76
13'68
13'51
13·39
13· 27
13'15
1:3 ·04
12·!1:.l
12·s3
12·71
12·fi0
12 ·50
12·3y
12 · 29
12·19
n·o9
12
]1·53
1: · 11
10·71
10 34
10
9·1i7
9·37
9·()9
s ·s2
8·57
s·a3
8 · 10
7·E9
I
7'69
I
20 per
tent.
I
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21 '7:l
21·50
21 ·27
21 ·oo
I
2()·
20·61
20'40
20·20
2.:>
rn ·so
I
I
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iS·41
19 ·23
J!l ' 04
J8 ·86
18 '69
18 5!
1s ·a-t
18·1
lB 01
l7'8fi
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54
I 1717'39
11·24
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J:3·~9
13'33
12-go
12·50
12 ·12
1 t ·7G
11·42
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I '7 ·eo
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I
7 · 14
6' 81
6'66
6·!-2
6·25
0
5 -45
5
~
C
11·2s
I
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~
b,;J
17'09
16·M
rn·8o
16 '66
16 ' 52
1ti '39
16"26
16'12
16
15 "88
14'81
I
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~
~
~
C
~
r/J
11 ·11
I
10 ·81
10 52
10·25
10
9·52
!l·oo
S·Sb
I s·aa
8·69
I
I
8
7·27
6·66
J
,.ir.
STOCK SPECULATION.~"".;.':
STOCK SPECULATION.
Specuia.tive transactions, as distinguisbed from regular investment dealings, are those conducted on "margins," and m which
the operator does not pay or receive the actual price of the stocks bought or solJ, but simply places a sufficient margin in the hands
of his broker (usually 10 per cent of the par value) to protect the latter against loss from :fluctuations in the price. A party who
purchases stocks in anticipaticm of a rise, but pays the actual price thereof, is not, according to the u sual acceptation of the t erm.
engaged in speculation.
It shouid be clearly understood that the ultimate responsibility in stock operations is with the customer. He r uns the risk of
the failure of his own broker; nor can he hold him responsible for losses occasioned by the fraud or failure of others with whom
he had made contracts. The broker stands in the position of an agent acting for his principal. It is, therefore, hardly necessar)
to r~mark upon the importance of dealing through brokers who have both integrity and pecuniary responsibility .
The great central point in stock i;ipeculatio:a, about whicl\. the whole business revolves, is the fact that on the purchase or sale
of the usual amount of 100 shares of stock, representing a par value of $10,000, each :fluctuation of 1 per cent from the purchase
price occasions a. gain or loss of $100, and this ii> the same whether the purchase is at a price above or below par.
Next comes the question of interest, which is charged on the actual amount that the stock costs, pl us the broker 's commission
for buying, and is usually at the rate of 6 per cent to customers, though higher rates are charged when the money m arket is in
mch a condition that money for carrying stocks commands higher figures. Prior to the repeal of the Usury Law as
pertaining to call loans in New York (by the Act of 1882), it was customary in times of monetary stringency to charge
commissions for obtaining loans, which commissions varied from 1-64 to 1 per cent a day, and were a very severe tax
on stock operators.
Subsequent to the question of interest is that of commissions, which are fixed in speculative transactions at ¼ of 1 per cent on
the par value of the stock, amounting to $12 50 for buying 100 shares of stock and the same for selling, thus making the cost of
one "turn" in stocks just $25. The Stock: Exchange does not allow any transactions to be made by its members for outsiders at
less than¼ commission. Dividends paid during the pendency of a ·contract always go to the nominal owner of the stock. The
whole class of stock operations ordinarily carried on in New York may be classified as follows :
1. Buying for a rise, or going "long" of stocks.
2. Selling for a decline, or going "short" of stocks.
8. Buying or selling as above, but on "options. "
4. Buying or selling "privileges," generally known as "puts," "calls" and "spreads."
The last-named are not recognized by the New York Stock Exchange.
1. Buying for a rise is by far the most ordinary transaction with non-professional speculators. In this case the customer
usually deposits $1,000 in his broker's hands as a 10 per cent ' 'margin" on 100 shares of stock which he ordere to be purchased,
and which his broker holds or "carries" for him until ordered to sell the sam~, or until the margin is about exhaustec. Iv the
latter case, if the customer, on request, fails to put up more margin, the broker is at liberty to sell the stock immediately, and
charge him with the lobs, if any. Interest is charged the customer on the purchase price, with buying commission added, u sually
at 6 per cent, as long as the stocks are carried. In case of a tight money market the broker is entitled to charge his customer any
additional price which money actually commands for carrying the stocks. A party carrying stocks for a rise is said to be "long"
of the market, or a "bull. "
2. Selling for a decline, or going "short" of stock~ (being a "bear''), is also a very common transaction , Rud is simply th0
opposite of buying, as above, except that the seller, not having the stock, is obliged to borrow i t for present delivery, and take the
!isk of buying it back at a future day, to return to the lender. Aside from -the ordinary :fluctuations of the market, the chief risk
in thus " selling short" is in the chance of a "corner" in the stock in case a clique get control of it and force prices up to
extraordinary figures. This · is a rare operation, but has at times been effected jn the New York market with disastrous
consequences to those who were "short" of the cornered stocks. As a general rule, nothing is paid for the u se of the stock; but in
':!ase it is scarce, a consideration has to be paid for t he use from day to day. Margins and commissions are the same as above.
3. Buying or selling on "options" is a transaction in which the purchaser or seller, as the agreement may be, h as t he option to
ca.11 for or tender the stock at the price named, at any time within the period limited by the contract; but the Stock E xchange does
not recognize contracts running over 60 days. Thus a party anticipating a rise in stocks purchases 100 shares, " b ayer 30," or on
his option to call for the delivery of the stock at any time within 30 days, at the price named; this price is usua.lly somewh at
..1.bove the current price at the time. If a decline in stocks is expected, a sale is similarly made "seller 30," or at seller's option to
ieliver at any time within 30 days at the price named, and the price is usually more or less below the market at the time. In
purchases on buyer's option (for nny time over three days) the buyer is charged with interest on the price of the stock up to the time
he calls for it. In sales at seller's option the Reller is credited with interest on the price of the stock till he chooses to tender it .
Interest in either case is at 6 per cent, according to a rule of the Stock Exchange; and at the end of the optional period the seller is
obliged to deliver, and the buyer to receive, the stock, if the contract has not previously been closed. Margins and commissions
are the same as above.
4. Stock privileges, or "Puts," "Calls," and " Spreads" or " Straddles," as they are commonly called, nre contracts entitling
the holder to receive or deliver certain stocks at any time within a period limited (usually 30 or 60 days) and at a price therein specified; in the case of" spreads" the privilege is either to receive or deliver. A certain cash price is paid for the contract by t h e purchaser, and his entire liability in the transaction is limited to that amoupt; and, as the question of inter est does not enter int o the
matter . the uncertainties of the money market need not be taken into consideration. The amount paid for a 100 share p rivilege is
generally $100 for 30 days, and $150 to $200 for 60 days, and for double privileg<'!S a larger amount. The variance from the current
market price at which privileges on different stocks are sold varies widely, according to the character of the stock named and the
condition of the market at the time.
A "Put" entitles the holder to put or deliver stock to the signer thereof, within the time and at the price therein namea, and
the contract reads substantially as follows:
0
FoR VALUE RECEIVED, the bearer may deliver me One Hundred Shares of the stock of the - time in thirty days from date. The undersigned is entitled to all dividends declared during the time.
(Signed)
N EW
YORK, - - - -, 1S-.
Railroad Company, at the price of -
per cent, any
- -- -
·- ·
A "Call" entitles the holder thereof to call for or demand stock from the signer thereof, according to the terms specified, and
reads about ae follows :
N EW
FOB VALUE RE CEIVED,
YoRK, - - -, lb-.
the bearer may call on me for One Hundred Sha.res of the Stock or the - - - Railroad Company, at the price of per cent
The bearer is entitled to all dividends declared during the time.
(Signed)
- - - - -.
any time in thirty days from date.
.l. "Spread" is a double privilege, and entitles the holder either to deliver to, or demand from, t he signer thereof, the stocks
named in it, according to the terms of the agreement. If the prices named in both cases are the same, then it j s k nown as a
"Straddle." The contract reads substanthtlly as follows:
NEW
YonK, - - -. 18- ,
Fon Y ALUE RECEIVED, the bearer may call on the undersigned for One }'l{undred Shares of the Stock of the - - Company, at - per cent, any time in
Qxtrty days from date.
OR THEI BEARER lllAY put or deliver the same stock to the undersigned, at - per cent, any time within the period named. All dividends declared during
~ time are to go with the Stock in either case.
(Signed)
-- - .
, E:l:pires - - -, lS-.
~o lb.e purchaser of "Puts," "Calls," or "Spread.I" there ii no liabllit7 to 1011 beyond the am.>unt ·paid in cash for the contrac•·
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
UNITED
SECURITIES.
STATES
PRICES
FROM
1860
TO
1891,
INCLUSIVE.
Tha debt of the United States outstanding on December 31, 1891, is given below in detail. The following is
a statement of the ·total public debt of the United States from 1793 to 1891, inclusive. In the year 1860, and
subsequently, the totals given are the net amount of debt, not including accrued interest, less the balance of
coin and currency in the Treasury. Bonds issued to the Pacific railroads are not included in the statement, as
these are assumed to be a conditional indebtedness for which the Government holds security in the shape of
second mortgage liens on the several roads. For the more recent years the figures given below do not agree
with those reported in the monthly debt statements issued by the Government, as a change in the form of the
statements has been made several times. We give the results entirely in the old form, so that the comparison is
on the same basis for all the years. The totals are for January 1 of each year from 1793 to 1843 inclusive,
and for July 1 (the close of the fiscal year) since 1844 inclusive.
UNITED STATES DEBT 1793 TO 1891.
Year.
Amount.
Year.
1793.. . $80,35? ,634
1794. .. 78,407,404
1795 ... 80.747,587
1796 ... 83,762,172
1797 ... 82,064,479
1798 ... 79,228,li29
1799... 78,408,669
1800 ... 82,976,294
1801... 83,038.050
1802.. . 80,712,632
1 803 .. . 77,0!'l4,686
1804... Bn,427,120
1805.. . 82,312,l!'lO
1806... 75,723 ,270
1807.. . 69,218,390
1808 ... 65,196,317
J ~09. mm.023.192
I
1810...
1811 ...
1812 ...
1813...
1814.. .
1815...
1816...
1817.. .
1818...
1819 ...
1820...
1821. . .
1822...
1823 ...
1824. . .
1825 ...
182fl ...
Amount.
Year.
$53,173,217
48,005,587
45,209,737
55,962,827
81,487,846
99,803,660
127,334,933
123,491,965
103,466,633
95.529,648
91,0lfi,566
89,987.427
93,546,676
90,875,877
90,269,777
83,788,432
81,054.059
Amount.
1827.•. $73,987,357
1828 ... 67.475,043
1829 ... 58,421,4-13
1830... 48,56!'\,406
1831. .. 39,123,191
1832 ... 24,322,235
1833 ...
7,001,698
1834...
4,760,082
1835 ...
37,fil3
1836...
336,957
1837•..
3,308,124
1838 ... 10,434,221
1839 ..
3,573,343
1840...
5,250,875
1841 ... 13,594,480
1842 ... 20,601,226
184R ... 32.742,922
Year.
Amount.
Year.
-1860...
1844... $23,461.652
1845... 15,925.303 1861. ..
18,550,202 1862.•.
1846..
1847•.. 38.826,534 1863...
1848 ... 47.044,862 1864 ...
1849... 63,061,858111865 •..
1850. .. 63,4li2,773 1866 ...
]851. •• 68,304,796 1867...
1852... 66,199,341 1868 •..
1853... 59,803,117 1869 ...
18!'\4... 42,242,222 1870...
1855 ... 35,586,956 1871 ...
1856... 31,972,537 1872 ...
1857... 28,699,831 1873 ...
1874...
1858 ... 44,911,881
1859 .. . 58,496,837 1875 ...
I Year.
Amount.
$59,964,402
87,718,6~0
505,312,752
1,111,350,737
1,7<,9,452,277
2,674,815,85G
2,636,036,163
2,508,151,211
2,480.853,413
2,432,771,873
2,331,169,956
2,246,994,068
2,149,780,530
2,105,462,060
2,104.14.9,153
2,090,041,170
Amount.
$2,060,9~:i.340
2,019,275.431
1,999.382,280
1,996.414,!-<05
1,919.326,747
1,819,650,154
1,675,()23,474.
1,538,781.825
1,438,542,995
1,375,35~,443
1,282,145,840
l, 175,168,675
1,063.004,895
975,939,750
89o,,;84.a71
865,912,751
1876 ...
1877...
1878 •..
]879 •..
1880...
1881. ..
1882...
1883...
1884...
1885 ...
1886...
1887...
1888 ...
lil89 ...
l8M...
1891...
UNITED STATES DEBT STATEMENT DECEMBER 31, 1891.
The following is the official statement of the public debt as it appears from the Treasurer's returns at the
close of business on the last day of December, 1891, according to the latest form adopted by the Treasury.
INTEREST-BEARING DEBT.
7'itle of Loan.
~r:;~i 1:::eu;t
. 4.mownt Outstanding.
, ______
I
Al!gre1?ate excl'd'11
B'c!s t.o Pac. RR.
. ...
1
Re¢.stered.
----
4½s, F'n 'd Loan.1891
Continued at 2 p.c. Q.-M.
'8, F'ded Loan .. 1907 Q.-J.
4s, Ref'd'g Certifl.c's. l Q.-J:
$250,000,000
740,885,850
40,012,750
Coupo1..
I
Total.
~.~.~~-~~-~~-~-
Gold-Coln . .... .....•. . ...
~~~~~~-~~~100 ,634•061
Silver-YJL~f1a:ra:::: :: : :: : : :: : : : :: : : : : : : : : : :::: :: : : : ::·::. •• ,' ·. 3~i•.iw~~t- $278,84'6,7M
t~~!~~~~~:.
~~.
1
~·:.::·:·.:·::·:::.·:.::::::::::::::::· ·· ::: :·
----
Paper-Legal tender notes (old issue) ........ . ....
125,86-!,500
$....
$25,864,500
488,i4~,25'> 75,824,750 559 574 ooo
, ss'.470
---- ---- ----
~~y~scuiitifl~~~!s~~-~~~~.'.'.'.'. ::: . .'.'.' . .' .. .'.'.'.'.'.'.'.','.'.'.'.'.'. ·: .:
~\lv1>r certlflcates......... ............. ... ...............
~~~r~~~r ~:~~i:::::::::::::::::::::::::::::::::::·:::
')the·-lionds. interest and coupons paid, awaiting
0
1.0:10,848.100
509,11 S,750 7~.824.750 585,02ti.Sr70_
DEBT BEARING NO INTEREST.
{;fcf~J-tend~r notes ...... .... .. . .......................................... $846,&'1,016
Natlo~~r~:i.n\o~~1"i:is:·........... ....... ................................
55,647
F ct~ed,mptlon account ...................... ,......................... S2,6'i9,299
ra 0011 curre~cy................. ....
.. .............. $15,281.ffflS
L ess amount estimated as lost or destroyed. . ............ 8,:175,984
6,905,674
AR~egate of debt bearinJl no interest ............................. $386,821,636
CERTll<ICATES AND NOTE3 ISSUED ON DEPOSITS OF COIN AND
LEGAL-TENDER NOTES AND PURCHASES OF SILVER7BULLION.
In tM
In
Classijlcatwn of Ctrtifi,ca:t.es and Notes.
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ , 'l'reaswry. Oirculatwn
.A mount
Issued.
rency:::::::::::::::::::
J::~8:li~
12,91H.ttij5
416,~76,842
1~:~~i:~g
3,1!5-1,?50
4.:it{~f-
41,228,832
S~~:~~
Mfne~:,n ~~i~e~nef tfr.actio;.;ai 'cur
oeposit~ in nHtion~l b~nk deposl anes-&"eneral acc't. - 15,487,li?0
00
DiSDUI smgofflcers balances........... ......... . ...... ..
4,400,012- 20,2~~
Aggleiiate........ ............................. .. ........
$767,S00,48
DEMAND LIABILITIES.
~1Y!~;raA1rn~l~a:::: :: ::::::::::::::::::: :: ::: ::::: :::::::. ·.'¼fz~·.~;i·.~\
¥~~~:~~: ;ir!~11.iri~'lm:::::::::. ::::::::::::::::::::::. ::::
1~lt:,Nt~~77.1,s.259
Fund for redemp. of uncurrent national bank not.es. ..
f.,Y,;6,7:l0
Outstandinir checks anct <lrafts. . . .. ..• ... ...... ..... .. .. .
4,2':'?,7tt2
Disbursing ottlcers' balances...... ........................ 27,818,471
Aµency accounts, &c ... .......................... ... .. . ..
7,555,og2- 45,588,045
~~ldci!':~e~:1~iice.:: :::: :: :: : : : : : : : : : : :~~~: . ::
:$1~:~ti~g
134,57-l, l28
-----
Aggrejlate ......... .. .... . .................................... ............ $757,300,432
Gold certificates .................. ............. $17,472,7:l0 $148,106,119 $165,f>78,8!i9 Cash
b11lance in the Treasury November 30, 189l. ...................... ll'll,J2K,IH8
SUver certificates........ . ....... ............. 8,9M,'i50 820,817,568 824,772,318 Cash balance in the Treasury December 81, 18111 ......... . ............. 1S4,Ci74,128
Currency certificates.. .... ....... .. . ........ .
200,000
9,265.000
9,465,000
Treasury notes of 1890.......... . ............ 2,081,045 75,296,057 77,827,102 Decrease duriDjt the month.... • .. ... .. • • .. • .. .. • • • . . .. • • • . .. ...... . . .... U,~2,71}
.AJlJlTeeate of certifl.cates., •..• ,.,, •••.. . , ~~
$553,484°,7« $577,~
RECAPITULATION.
Ola.88'11cation of Debt.
________,____
,
Dec.St,
Nov. SO,
18111.
1891.
Increaae or
Decrease.
•
$
'
Interest-bearing debt ..................... , $585,026,9i0
Debt on which interest has ceased ..... ..
4,688,840
Debt bearing no interest .................. . 886,821,IS36
11.1uiraa-ate of interest and non-in~r.
eat be~rillg debt ............. ·... 1 ·•• • .
Ce1t1fl.cat~11 and notes offset by an equfll
ii . . amou11t ot CllDb ln th~ 'ffe18Ury.,.,
ailllr
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BONDS ISSUED IN AID OF P .ACIFIC RAILROADS.
Interest
Int. repaid b11 Companies. .Bal.ance
- Principal
Interest - - - - - - - ,
Name
Outaccrued J)aid b'l/ B'I/ Trana- B'I/ ca.sh pa,v- of InteT at
of .Railwav. atam,clmg. and not the U. S. portation m'ts; 5 p. c. t>Gid bv
11et J)aid.
Servue. net ea,-ninga. the U. S
1585,026,870
I. 100
l5,279,':'70
D. 646,480 Oen. PacUlo.
887,488,846 D. 1,111,710 Kan. Pacitto.
Uni'n Pacific
9'171789,986 D, 1,71)8,04-0 Oen.Br. U.P.
West. PacUlc
$
25,885,1211
6,803,000
27,236,512
1,600,000
9.'il5,981,9'6
1,970,00C,
q77,:_43:261i _!lf}.1~1,709 ~~ 81oux C. ct P. l,6~,390
----
,~6~10
•
$
776,654 85,877,41:S
189,090 9,154,778
817,095 ~.0Sl,876
i8,00(i 2,317,808
59,117 2,6H,118
48,~9 2,215,891
$
$
6,26R,89&
S,"69,267
18,016,541
'93,760
9,StS'i
188,16~
658,288
... .... ..
,88,410
6.926
., , .. ou..
.. • .. .. • ..
•
28,052.281
6,l&.606
2',516,4l35
l,ill7,121
2.~.'761
2,06~,722
_T..,ot&I
C-0,-,~
.....
-........•...~
....~-'~•li,li..i...1~,~~
..
- ;...'i0r>--+-110~--.2':-1,.:s7=9~::es:~~:.;,oos,:......._ 1.1os,~ oO,Wi,'lllfl
- • .:•_ .r. ;y!.""'-= .
__;,_.~.,.. _.,.-- "
-
UNITED
4-4
STATES Sl!lOURITIES.
PRICES OF UNITED STATES BONDS.
In the following tables are shown the monthly highest and per cents payable at option. In 1884 the highest price of 4s,
lowest prices of United States Government Securities for the due 1907, was 124½, in March, and the lowest 118½, in May,
thirty years from 1860 to 1891, inclusive. At the beginning of &c. In 1885 the highest price was 124%, in December, and the
this period, which was just before the War of the Rebellion, lowest 121% in April. In 1886 the highest price was 129% in
the total debt of the Government was nearly nominal, and the December, and the lowest 123, in January. In 1887 the highfive per cents due in. 1874 fluctuated in the year 1860 from 99¼' est price was 129%, in March and May, and the lowest was
in January to 104½ in June (before interest payment), and to 124½, in September, October and December. In 1888 the
89 in December, when the political excitement was at fever highest price (under heavy purchases b_v the Treasury) was 130,
heat. Then followed the war period till April, 1865; thence in September, and the lowest 123¾ in April. In 1889 the
the period of speculation till September, 1873·; thence the per~ highest price was 129½ , in March, and the lowest 123¼, in
iod of recuperation, till the resumption of specie payments on January. In 1890 the . highest price was 126¼', in January,
January 1, 1879, and the subsequent funding of the maturing and the lowest 121½ , in July. In 1891 the highest was 122, in
bonds into ·new bonds at 4½, 4, 3½, and finally in 1882 into 3 April, and the lowest 116, in October.
1860.
)
JANUARY FE13R'RY.
,.; SECURITIES.
APRIL,
MARCH.
MAY.
JUNE.
JULY.
AUGUST
1•PT'BZR. OCTOBER.
NOV'BER. DEC'BER.
Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.Hll?h Low.High Low.High Low.High Low.High
- - -- - - - -
----
---- ----
U.S. 6s of 1868, coup .... 106½-107 106 -107¼ 106½-107¼ 108 -108¼ 108¾--109½ 108 -108 108 -109 109 -109¼ 08 - 108¼ 107¾-107¾
U.S. :is of 1865, coup . .. . 98 -100 99¼- 100 99¼-100½ 100½-102¼:102 -102¾ 102%--103 100½-100¾ 101 -102 102 -102 102 -102¼ 93 - 98
lJ. S, :isof18'74, coup .. . . 997,£-100¼ 100¾-100½ 100~4-101¾ 103 -1037,£1103 -103¾ 103¾-104½ 101¼-102 102 -103 102:}~-103¼ 102½-103 95 -103
96 - 96
92 - 93
89 - 95
0
1861.
U. S, 6 sof1~68, coup . ... 98 -100
U, S. 6s of181S1, coup .... .... - ....
U.S. :ieof1865, coup ... . 90Yir 92
U. 8. :is of 1871, coup ... . 91 - 93
U.S. ~sof187'4, coup . .. . 92 - 97
94 -100
93¾- 98¼
86 - 91
87½- 91
85 - 93¼
95 - 95½ 1!5 91 - 94
84¼91 89 - 92
.... 85 85 - 90
75 -
.... -
95
94
91¾
85
89½
86 - 95
88 83 85½75¼75 -
84¾- 89
85 - 86
78 - 80
75¼- 79
90
85
87 - 90
85¼-90¾
86¼ 86 - 89
77¼- 80
79
781/. 76 - 82
87½- 90
88 87¼- 89:k; 89¼86 85 - 87
- . ... 79½79½78¼- 81
....
90
91¾
87¾
81
81
90 91¼87¼81¼81¼-
90
95¾
89
86
&s
f2 - 92
93½- 95¼
87¼- 80
82½- 86
83 - 86
97 - 98
89 - 93½
86½- 88½
82¾-- 83
79 - 88
1862.
U, S. 6sof1868, coup .... 85 U, S. tis of 1881, coup .... 87¼u. s. :is of 1865, COUJ) .. . . 85 U, 8. :is of 1871, cou1, .... 79½u. s. 5sof1874, COU}) .... 78 -
.. ..
90 - 92
90
01¾ 88½- 93
86¼ 86-¼- 90
79 - 80
80
80¾ 78½- 85
....
U, S. 6s, certificates ......
U, S. 7 3-10 notes ........ 07½- 98
94 - 97
97¼'.-102 103¼-107¼
92½- 98
97¾-105½ 105¾-107¼'.
92 - 92½ 93½- 97
03 - 99
- . ... 93 - 96 06½- 97
865,,s- 90
89¼- 06
95¼- 97½
99 -100¼ 100¼-100¼
96¾-99
99¼-101½ 1027,£-105¾ 1()4¼-106¼
92½- 95
92¾- 94-'.}s
90¼- 98
88 - 88
85 - 88
.. .. - . 97 - 97
98 - 99% 997,£-100
96½-100
96¼-108
I,'() - 92
86½- 86¾
85 - 01
98 - 99
99 -105¼
....
...
108 -103¼ 101¼-102 102 -102
-104¾ 103 -104½ 102¼-1~
96 - 97
97 - 97
95 - 05
88¼- 90 89 - 91 92½- 93
... . 91¾- 92¾
85 - 01
88 - 91¾ 91 - 94
91½-- 93
91½- 92½
98¼- 99% 9S)4- 99% 98½- 99¾ 97½- 99% 04¾- 97¾
102¼-105½ 102¾-104¼ 103 -103 108½- 105% 100¼-104¼
96½- 99½! 96½-100
08¼-1010(1..
-102¼ 102
04-94
94-95
.... -
I
1863.
u. ~. us 01
1~~.l, cmt1>...
.:1.crr 11049,s-i.U'i}• •ou -107 1106:¾(-110¾ 108¾- ll0¾~05¼-IIO
106 -108½ 104½-105 105 -105 .... - ..... ... - .... 117 -125 124 -127
08¾-100
07 -100
9C¼-101
07 - 97
9:i¼-100¼ 100 -100
93 - 100½
94¾- 97¼ 93¼- 99
OS;,£-100¼ 99¼-102 101 -102 100¼-101¼ 98½-101¼ 100 -101:¾; 101 -101¾ 101%-10~!{ 08 -102¼ 101¾- 102}.!
.... - .... ... . - . ... 06¼-100½ 08 - 99¼198 - 99% 97 - 00¼ 9i¼- W~ll 99)4- 99¼ 09¼- 99% 1 99 - 91J~f 98¾- G9
08 - 98½
100 -103 101¾-105}( 104)4-lOi¼ 104½-106 106 -107½ 103½-107¼ 105 -107 105¼-107¼ 106¾-107¾ 105,½-108-¾ 105¾-107¾ 106½- 106¾
102½-103 102½-104:½: 10~¼-107 104 -107 106¾-109 107 -107¼ 105½-107¼ 105½-107¼ 105 -106½!106 -108 106 -107¼ 106½-107¼'.
111.9:1- 11-,1
U, S, 5s of 1865, coup ...
U, S . 5s of 1874, coup...
U. S, 6s, goldce1•tificates
U.S. 6e, current ce1·ts ...
U. S, '7 3-l0s, A, & O . . . .
U.S • .?' 3-l0s, F. & A .. ..
u~-1.U;::"½ 1.uu7-1-1.ucr½ u·c1;1'1,- .Luu>f!ll07¼- l0~4 107¼-l.lU [104
.... - . . . C6 - 99
99¼- 99¼ .... - .... 104 -106
86 - 00
85½- 97½ 01 - 93¼ 05),:{- 08}4 97 - 98
'
1864.
U. S, 68 of 1881, COUJ> . . .
U, S. 5-20s, coupon ... ...
U, S.10-40s, coupon .....
U, S. 7 3-lOs, A, & 0 .. ..
U.S. 1 year certificates .
106"-109
104¼-1060(11--11• 11~118
-111¾ 106½-108½ lOO~f-1077,{ 106½;-110
104 -107 106¾-111½ 1117!{-118¼:118 - 118
101½-104¼ 10:J¾-107 107 - 110½ 105 -ll4
118 -115 !111 - 114 102 -106% 104%--109¾
105½- 1077,£ 101 -106¾ 101½-109 106,½-113 105
103 -103}(. !)5
.... - ....
106%-107¾ 107~i-111
1;03
102)4-107½ 107 -11 2 107
97¾- 98¼ 9i¾- 991/. 99¼- 99¼ 97¾- 99¼ 98¾- 98½ 92¾- 93¾ 93 - 96¼ 93¾- 93¼ 98
ii'i :1;s··1i00,,:1i5" ;00,,:1;2·
:1iO"
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Federal Reserve Bank of St. Louis
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«Is (5-20 years) Coupon.
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5s,
4s. 6s, cur10-40, 515, 1881 4~s, '91
oup. Coup. rei:cy.
Coupon Coup.
-----
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Coupon Bonds.
I
109¾
10-40s. 5s, 1881
104!1(
104¾
102¼
10$¾
108¾
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104¾
105
107
107.½
105¾
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es, 1881
---
-.July.
x99.½
100
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100
119¼
121¼
119.½
121¾
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106%
106¾
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102¼
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102
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105
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106
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100
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100
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122
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102
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122
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102
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....
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May.
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Apr.
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101
104¾
Coupon Bonds.
6s,Cur4s, 1007 rr~tl,·
reg.
Feb.
Opening . . . . . ..
H ighest .. . .. •.
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lOS½
Dec.,
Aua.
Opening . . .. ...
Highest . • . . . . . .
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Q Mar.
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....
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105
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Oct.
....
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105
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Nov.
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105¾
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Dec •
1.03¾
103¼
103¾
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x00½
106¼
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106;(
102¼
10a
102¾
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x23_½
123¼
128
12S
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Highest . ..... .
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Clo1ln&'· ·······
106¼
107¼
106¼
lO'l}i
~20s.
6s, 1881.
.January.
Oi,entng .. .. .... . . . . .... .. . . . . . . xl041,4
104¼
Hi,{he1t ... . . . . ... .. ... . . . . . .. . . .
104¼
Lowest .. .... . . . . . . ... . .. . .. . .. .
Clo1~ . . . .. . . .. ... ... . .. .. . . .. .
104¼
fitt
48, 1007 ri~3/;
reg.
... .
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....
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5s, 1881. 4¼s, 1891. 4s, 1907.
-- - - -
- - ---
103¾
104
103%
104
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107¾
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108
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March.
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128
123
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101
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109
109~
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109
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106%
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104'.(
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107%
109
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128
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....
- - - - - - · - - - - - - - ---
108¼
103½
103
103¼
108¼
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108½
....
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5s, 1881. 4½ s, 1891. 4s , 1907.
105¼
105¼
105¼
103½
X 108
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123¼
128~
1~
Octeber.
.............
Opening••.. . .. .. . .
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[llos!ng ... . . . . ... . . ... .. .. . . ... . .
May.
Open ing ... ..... .... . . .. ... .. ....
R!«he1t .. . ..... . .. . . .. ... ... . ..
Lowest ...... ... ... .. . .. . . . .... . .
llo1in1i . ...... . ......... . ... .. . .
.June.
..... , .................
6s, 1881.
September.
Opening... .. . ........... . . .. .. . .
Highest ..... ... . . . .. . .... . . . . .. .
Lowest .... . . . . . . . .... ... ... . . . ..
Closinc . .. .. ... . .. . .... .... .....
l28ki
, . . _.
Opening .. .. .. . .
xl04¼
104X
Highest . . .... ... . . .......... . ..
103¼
Lowest ... . ... . . . .. . . . .... . .....
10-!~
Closing .. . . ... ... . . . . ... • .. . . . . .
126
126
126
126
125
1.94
1~
108¾
104!4
103¾
104¼
... .
... .
... .
....
....
....
....
....
....
Coupon Bonds.
All&'ll8t.
105¼
105¾
105¼
105%
Lowest ... ... . ...... .. .. . ..... . .
119
11~
- -1868.
- 1867.
-- -- - - -- --
fli1, currency,
1808, reg.
February.
Clo1ing .. ..... ...... .. . .. .. . . ...
I i ()%
611,
10-4.01. 1'111, 1881
1880.
Coupon Bonds
Opening.... .... . .. ............ .
Bt,the1t .... .. . .. .. . ... ... . ..... .
110).n
12011s
Nov.
tMit
1868.
1867.
- - - - - - - -- - - -----Jan.
Opening .. . .. . . .
Highest .... .. ..
Lowest . ........
Closing .. .. ....
llllff
18"9.
5-20s.
611, 1881
1191(1
Oct.
105¼
107¾
105¼
107¼
109¾
109¾
109.!1
109~
1• -----·- ·.
~
.
Sept.
.June.
Open 'g
Hlgh't
Low'st
OlO.S'i,
x05¾
July.
1tlay.
Open'g
Hlgh't
Low'st
Clos 'g.
x02.½
I
5s.
5s, 1881 4¼s, '91
10-40,
4s, 6s, cur.
Coupon Coup. Coup. Coup. rency.
Open'g x07¾
Hlgh't 107¾
Low'st 107
Clos'g. 107.½
A.pr.
Open'g
High't
Low'st
Clos'g .
1867.
118.½
119.½
118.½
119.½
Mar.
Open'g
High't
Low'st
Clos'g.
1868.
1865 n.
- - - - - - - - - - - - -- - - - - - - - - - - - -
l'eb.
Open'g
Hlgh't
Low'st
Clos·g .
6s (5-20 years) Coupon.
es, 1881
Coup.
1~
~
~
100
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1113'
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18'
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UNITED
ST.ATES SEOURITIES.
40
1881.
Coupon Bonds.
6s, 1881. 5s, 1881. 4¼s,1891. 4s, 19°'.7....:_
Coupon Bonds.
6s , currency,
189~, reg.
January.
6s, 1881. 5s, 1881. 4½s, 1891. 4s, 1907.
---- - - - - - - --
July.
Opening .........•.•. . .......... xl0l½
Highest ...• . ........ . .......•.
101¼
Lowest .• . .•
101¼
Closing ............... . ...
101¾
101½
101¼
101½
101¾
112
112-}s
l J. 2
112¾
x112½
113¼
112¾
112¼
xlOO¾
101
100¾
100½
112¼
112¼
111¾
112¼
112¾
114
112¾
112¾
.. .................
......
February.
Opening ... . •......•.. . .........
Hlghe1t ........................
Lowest ...
Closing .....•.........• . ...•...
101¾
101¾
101¾
101¾
··· ·················
March.
Opening ........
Highest .................. . .
Lowest......•.•.••..............
Clos ing .... . ....................
102
102¼
102
102¼
··• ··········
June.
Opening ........................
Highest .............. ... ........
Lowest .......
Clostnir.
....... .... .. ..... .....
··············••'•
116¼
116¾
1141)(
115¾
.x: 113
118¾
112¼
118¾
116
117%
J.16
117¾
102¾
September.
116¾
133
133
133
133
Ope r ing •..............•..•.....
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Closing .. . . . ... . . ··········· ···
100¾
101!,,ji
100¾
101
xl0O½
102¼
99¾
102¼
114¾
116½
114¾
116¾
116¼
118¼
116¼
118¼
1315
1315
135
135
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................ .
101~
101¾
101¾
101,~
102
102½
101¼
102¼
113¾
114¾
113¾
114¾
116¼
117¼
116
117½
104¼
104¼
103
x115¾
115¾
114¼
118¾
118¾
117¾
11!'\
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101¼
100¾
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102¼
103¾
102¾
108¾
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• 104
104
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103¾
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102~
102~
101
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101½
101
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105
101¾
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Mny.
102¾
115¾
101½
101½
100¼
101
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114¾
112:)s
l'.4¾
Openlna- ........................
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August.
Opening ........................
Highest .• .-......................
Lowest .........................
Closing ... .. .. . .. . .........••...
114¼
11411(
114¾
114¾
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102¼
102¾
102
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102¾
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103¼
........................
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133
• 102!1(
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X
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October.
November.
December.
X
113
113
113
113
x lld¾
116%
115½
116
l lA~tl
1882.
Reu;ister'd Bonda.
Coupon Bonds.
6s, cont'd 5s, cont'd 4½8, 1891. 4s, 1907. 6s,t°8i~~Y, Ss,opt'n
U.S.
at S¼.
at3½.
0
- - - - - - - ---~
Janua1·y.
100)(
101
100¾
101
---- - - -
....
102.l,s
102¾
102¼
102¾
114¾
114¼
114¾
114¼
117%
118¼
117)4
118~
131
131
131
131
101
101
100~
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102½
102¾
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102
114~
114~
114¾
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118
11~
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101¾
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102
103¾
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118
110¾
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101¾
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103
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121¾
118¾
121
Openlr: g ..........• .
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101"
101%
101}!
101¼
102}(
102¼
101¼
101¼
116~
116¼
11:>¼
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121
121,¼
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120¼
100
100~
100
100~
101¼
101;)(
101¼
101"
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114~
114¼
120¾
1209(
120¼
12(%
Opening ••.. . .......
Highest ...• . .......
Lowest .. .
Closing ..............
... .....
X
February.
Opening .•..........
Hlahost ..•.........
Lowest ...
Closinz ..............
118
March.
Opening ...........
Highest •.....•......
Loweat ..............
Clos!ng•....••.••.•..
....
.. ..
....
....
....
....
....
....
....
....
....
....
Aprll.
Opening ............
lllghest .... .........
Lowest ...
Closing .......
. .......
May.
June.
O'!)enlng .•.•..•...•.
Highest •.•..• . .••...
Lowest .......
Clo11lna:.
X
.....
···········
114¼
....
....
....
---- - - - - - - - - - ---- --119
114
102
X 101
....
....
ms
1~
102
....
....
102¼
114
118¾
....
101~
....
1~!
120¾
114¼
....
101~
101¼
....
Aua-uat.
120¼
Opening ........ .. .
....
....
.... 101¼ 114~
Highest ......... ...
....
.... 101~ 114¾ 120~ ....
.
..
11~
Lowest ........•
.... 101¼ 114¾
....
Closing •...... . .....
.~--·
...
.... 101~ 11~ 1191,a ....
September.
....
119¼
Opening ............
101
118
....
....
120¼
Highest •••...•......
l0l!)s
.
...
113
.....
....
119¼
Lowest •••••..•••...
....
....
....
100¾
112¼
11~
.
...
Closing•..•...•.•••..
.
...
112:¼
....
100¾
October.
xllS¾
102}(
Opening...... . .... . .
....
.... x100!4
113¼
119½
102~
113)4
Highest . . .. . ........
....
....
100!,4
118¾
102),4
113
. ...
....
Lowest .••. •. . ...... .
100)4
119¼
102~
....
....
Closing ••. . ..•... . . ..
113~
100¼
November.
102~
Opening••..... .....
....
l19½
.... 101!1( 113
102~
....
Highest . . .......• . . .
113¼
....
101¼
110¼
101~
llb}i
....
113
.... I 101,,
Lowest•...•.........
102
119)4
. ...
.... 101¾ 113
Closing . . .. •.........
December.
.... l~t
120½
....
Opening ••....•. •.. .
1127/4
1~¾
121
.... 103
...
103¾
113¼
Hi i::-hest ....•.•.•... ·1
120
....
Lowest •.....•••.•...
101¾
....
1~
1121'
....
10SJ,(
103
Closing ..... . ........
113~
....
1203'
July.
I
Opening •...........
Highest . ........ •...
Lowest .............
Closing •.. . .... . .. . .
....
....
....
....
....
....
....
....
....
....
....
...
....
....
....
....
....
x190
130
129
129
-
-
f'1nio on Bonds.
Registered Bonds.
6s, cont'd fls, cont'd 4¼8,1891. 4s, 1907, 6s, °g~~cy. '&yj~§~on
at8,½i.
at 8!,i.
1
---
117!4
117¼
102¾
103
102¼
102¾
131
131
131
131
xlll¾
112¾
111¼
112¾
Apl'il.
Opening •.•••.•.••••••••••••••• •
Highest
Lowest .•••..•.•..•••••••••••••.
Closing .........................
112¼
114,.{
112¼
114¾
101
102
100¼
102
Opening .....••..•••.•..••..•...
Highest •.•.•••.••...••.....••..
Lowest .... . ....... .............
Closing•......
133
138
6s, cur·
r e ncy.
U·98,rg.
I
:ic
J
X
....
....
1883.
C'ounmt Bnnd!!.
Re¢ 11tered .Bvr« u,.
Co11pon Bonds.
5s, cont'd 4,¼s,1891. 4s, 1007. &!!, option 6s,cur'or
:898.
U.S.
at S¼,
Registered Bonds.
5satg¾~'d 4¼s, 1891. 4s, 1907. Ss't:?.p~~on
6.\~ifcy
-----------,----------------------------1
----1---July.
January.
:ic:119~
119--~
118¼
118~
xl0S¼
104¼
l03¼
104¼
113¼
113¼
113J,(
11~
118¼
120
118¼
119¾
104)4
10Sl¼,
104¼
Opening ...•........ . ..•...•...
Highest .. ••.......... . .... . ....
Lowest •. . ... • .•••.... . .... . ....
Closing •.........•......•.. . ••.•
xll2½
113¾
112½
lt~
119-¼
120½
119
120¼
JO-!
104½
108¾
103¼
Opening ............. . ... . ..... .
Highest ................. .. . ... . .
Lowest ••. . ...... . . . . . . . . .. . ...
Closing. . . .................. . ... .
113¼
113~,!
113¼
113¼
xll9¾
120
119¾
119'7/4
103}9
103¾
103
! OS
Opening .....•...•.. . ... . •..... ..
Highest .....•...•.. . . ... . ... . . .
Lowest ............. . ........ .. .
Closing .......... . .. . ...... . .... .
113
113¾
113
113¼
11911(
110U
110
119,i
103¾
103¾
103~
103¼
Opening . . . ................. .. .
Highest ... ..... . ............... .
Lowest . .. .. . .. . .•••.•••••..••. . .
Closing.. . .. .. ...... . ........ . .
119¾
118
112¾
119¾
120
11~
103¼
104
103¼
1127&
120
lOSU
Opening .. . ....... . .. . . . . .... .
Highest . . ... ....•... . .•.........
Lowest .. : . . .. . . .. ..... .. . . •.....
Clos~ ................ . ........ .
..
103¼
103¼
103¼
103¼
104¼
~
---- ---
112'1/4
113
112¾
1:2¼
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119¼
118¾
110
103)8
103¾
103
103
113
113½
112¾
113¾
119~
119¾
ll8U
110%
103
10~
103
103¾
112½
119¾
121¼
110¾
121¼
103¾
103¾
101¼
101¼
September.
March.
Opening .......... . ········ ...
Highest •..... . ... . ........ . ..
Lowest ... . ... . ... .. . . ......... .
Clo,111~ ......... . ............... .
114
112¼
114
X
..................
1~
136¼
1351:£
130¼
121¼
122¾
121~
122¾
]00¾
100¾
100~
100¾
1:,6:;.
136¼
136
136
123
125¼
l2S
1009,£
102
lQ®t
109
x134
134}4
124
xl20¼
122
120
122
114¾
115
114¼
115
114
1141,
113¼
114-U
December.
June •
Cl~..........................
'2'
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Federal Reserve Bank of St. Louis
132¼
135
100½
100½
100¼
xlO0½
114¼
l14¼
118¾
114¾
Novttmber.
May.
Opening ....... . ·· ········
··· ··
lllghest .... . . .. ····· ··········
Lowest . . ..... . . ·· ······ ....
Cloaing .......
Opening .. . ......•..... . ••. . ....
H{zhest ................ . . . ......
Lowest .......... . ..............
138
135
October.
.. ...
.
Opentn,f ............ . ..
Rlghest -·················· ·· ···
Lowest ... .. . . .. .. . . . . .. . .......
Closinr ......... . .. . ............
•
131½
131¼
131½
131½
AULrUSto
Feb1·uary.
Opening ........... . .......... ..
Highest .. . . . ........... .. ....
Lowest ... ·········· ···· ··· ····
Cloalng ........... .......... ... ..
April.
Opening .. . ..••.....•.••..... . .
Highest .... .•. •... . ... . ........
Lowest... . ...•.... . .. . .......
Closing....... .. .............. .
113¼
113¾
112¾
113
:ic:102
Opening .............. . ......
104
Highest .... ··· ··········· ··· ·· ·
. ... ... ..... ... ... 102
Lowest .
104
Closing..........................
X
X
1241,a
X
l~
UNITED
50
ST.ATES SECURITIES.
1884.,
Coupon Bonds.
Registered Bonds.
Coupon Bonds.
Registered Bonds.
4½s, 1891 4s, 1907. 8s, option 6s, cur
U.S.
1898.
---- ----- ---- ----1 1- - - - - - - - - -- - - - - - - - - - ---- - - - - ---January.
114¼
114%
114¼
114¼
Opening ...... . ..... . ....... .
Highest ................................. ..
Lowest ...................... ....... ....... .
Closing ......................... . ....... .
February.
X
114-}R
Opening ......................... . ......... .
Highest.................. .. ....... . . . . .. .
Lowest ................................... .
Closing .................... ............... .
114¾
114¾.
114¾
March .
Opening...... . . . . ..................... . xll8½
Highest .................. ........ ..... . .. .
118¼
Lowest.. ....... .. .............. ...... ..... .
118¼
Closing .................................... .
113h
April.
Opening ............ . . . .. . ....... ~ ... . ••..
Highest .......•..• ..•. : .••••••..•....•...
Lowest ........•..•••..••.•...••....•.•.....
Closing .................................... .
128~.!
124¼
128¼
128¾
100¼
100¼
LOO¾
100¼
128-'.)(
123¼
12$%
128¾
101
101
101
101
lt8'7~
124¼
128¾
124¾
101
101
101
101
July.
184¾
184¾
18-!¾
184¾
Opening .................................. .
Highest ................. ................. .
Lowest... . ................ ... .......... .
Closing................ ·····-·· ···· ...... .
185¼
135¼
135),(
185¼
100¼
100¾
100¼
100¾
120¾
121¼
120
121¼
100jl£
101
100}.!
101
112¾
113¾
112¾
113¾
xl20¼
121¼
119¾
121h
101
101
100)4
100¼
113¼
121¼
122¾
121½
122¾
September.
October.
Opening.................... . .............. .
Highest ......................... ..... ... .
Lowest ................................... .
Closing ....................... ...... . ...... .
118¼
118%
110
112¾
128¼
123¼
118½
120¾
100
100¾
100
100¾
Opening ........ ........ ........ .... ... . . .
Highest .................................... .
Lowest..................................... .
Closing ... .... ... . .................. . . ... .
Opening ............... .................. .
xlll¾
Highest .......................... . ........ .
111¾
Lowest ........................... . . ....... .
110¾
Closing.......................... . . ....... .
110¾
120¾
120¾
118½
119½
100¾
100¾
100
100
Coupon Bonds.
120¾
120¾
119¾
120¾
112
1:2¾
Opening .................................. . xlll¼
111¼
Highest ................................... .
112¾
Lowest ................................... .
112¾
Closing.. . .. • • .. . . . . ........... . .... .... !".
IC101~
101¼,
100¾
100¾
June.
100
100¼
100
100¼
Opening ............ ... ................ .
Highest ............................... .... .
Lowest ..................... ... ...... ....~ .
Closing .............................. .. .. ..
x12~
124
128¼
ll,'8½
May.
x118½
120¾
118¼
120¾
ll~
August.
118¼
118¼
118
llSlki
Opening ......................... ........ .
Highest ..... . .......... ..... ............. .
Lowest ................... . .............. .
Closing ....... .... ................. ........ .
112
Novembe1·.
114¼
113¼
114½
December.
· Opening ... .... ... ... :. ............. . . • .. . x 118:1,(
Highest............................. • .. . . . .
113¼
Lowest...... ............... .......... ......
112¾
closing......................... • . . . .. • • . .. .
113¼
Registered Bonds.
101½
101½
101¼
101¼
123¾
123¾
122~
122¼
Coupon Bonds.
Registered Bonds.
4½s, 1891 4s, 1907. 8s, option 6s, cur.
U.S.
189l:S.
- - - - - - - - - - - - -- - ---- ----- - - - ----1 1 -----------·----·I---- ---- - - - - - - January.
112!){i
112¾
112¾
11~
Opening .......... ·........... .
Highest ........ . ................. . ........ .
Lowest ........................... . . ....... .
Closing .......................... .. ...... .
February.
Opening . ......................... . ........ .
Highest ............................ ...... .
.Lowest ...... . ........................ ... ..
Closing ................................. . .. .
March.
Opening ......... . . . ..................... .
Highest ................... . . . . ........... .
Lowest.............................. ....... .
€lo11ing ............................. . ...... .
X
April.
Opening ............ . . . . .. . .............. ..
Highest .................................. .
Lowest •••••••.•••••..•••.•• : •••....•••.....
Closing ............................ . ....... .
~=~ : : :
::::::::··::::::::::::::::::!
Closing .............. . .... ..... . ... . ....... .
"'
June.
Opening ............... ............ .. .... .
Highest ............... .... .. .............. .
Lowest .... . ....................... , ....... .
121:J(
122¼
121~
121¾
101½
101¼
l01
101),(
Opening .......... . .. . ..................... .
Highest ................ . .............. . .. . .
Lowest . .................................. .
Closing ........... . ........................ .
112¼
112¼
112½
1127,11
121¼
122¾
121;.(
122¾
102
102
101½
101¾
Opening ........... ... . .... ....... ... .. . ... .
H!ghest ................................... .
Lowest ......... ... ....................... ..
Closing ...... ... .... ...... ........ ....... ..
112
112¼
112
112
l~M
122¾
122¼
122¾
101½
101½
101
101½
Opening ................... . ............... .
Highest ....... . ............ . .......... . . . . .
Lowest ... . . ...... . ............. . . ..... .. ... .
Closing ............ ... . . .................. .
]21¾
122!,(
121~,
122
xlOl
102¼
101
102¼
OpeTJ.inA' ............................... .. .. .
Highest . . ..... . ............... .. ........ . . .
Lowest .... ... ...... ......... . ... .. .... ..
Closing... . .. ..... . . . .. .. . . .. .. .. . .. ... . . .
121¾
122¼
121¾
122!,(
102¾
108!,(
102¾
108).s
122¼
123½
122¼
103M
104¾
103,¼
lOt½
112¾
112¾
112¾
112¾
May.
X
Cloaing.......................... ... . ....... .
July.
112¾
118¼
112¼
113¼
112!,(
112¾
112¼
11~
X
X
I
I
HS½
112~
112¼
112½
112¼
Auitust.
135
185
184¼
1~
1227,i
122¼
128½
122¼
123¼
108¼
104
103¼
108'7~
184
184
184
184
112½
113½
112½
118½
xl22¾
124
122¾
124
108½
104
108½
103l{i
184
13'
184
184
113½
113½
113½
113½
128%
128¼
123¾
123¾
104
104
102¾
102¼
xl12¾
1127"'
112¾
112¼
128¾
124¾
128%
19&¼
108¼
November.
Opening ........ .. ..... . . . .. .... . . ...... .. .
Highest .... . .... . . .......... .. . .... . .. . . . .. .
Lowest ........ . . ...... . ........ . .... . . . .
Closing ..... ......... ..... . . .......... . .
E~:~:::·:·::·:·.-'.:·:·::·:·:·:·:·:·:·:·:·:·:·:·:::::::::::::
II
Closing .... :·-- ...................... ... ..
122¾
128).s
122¾
lSS~
lSS"
1S8J,(
1~
112¼
112½
112¼
112½
X
December.
x108¾
108¼
108,!i
10~
108
108M
102'7~
103¼
October.
X
122¾
122¼
122¾
1~¾
112¾
113¼
112¼
113)4
Fleptember.
136¼
137½
1361,,(
137½
X
X
104¾
108).s
108¼
x!SS
188
188
lSS
1886.
Coupon Bonds.
Registered Bonds.
Coupon Bonds.
4½s, 1891. 4s, 1907, 8s, option 6s, cur'cy
u. s.
1800.
January.
- - - - ----- - - - - ----,,-----------------
Op•alng ...... . .............. .
Highest .... . ............................ ..
Lowest .................................... .
Olo1lng ................................. .
112¾
112¾
112½
112¾
February.
Opening ................................... .
Highest ................ ... .......... .... . .
Lowest ................................... .
Oloalng ............................ ....... .
123
.-
April.
Opening ........... . .......... . ...... . . .
Highest ............. : ................... . .
Lowest ................................ ... .
Oloslng ................................... .
May.
Op4a!nlng ................................ ..
Highest ....................... .. . ........ .
Lowest ..... . ........... . ................ .
Closing . ........ .................. . ....... ..
Jane.
X
July.
123
124
185¾
1351,.(
135¼
185)4
Opening ................................. .
Highest ................................. .
Lowest. . .. . .......................... ... .
Closing ...... .
111¾
112¼
111¾
112¼
112¾
114
112¼
114
124¼
12i¾
124¼
127~
100¾
101
108¾
101
186¼
136¼
136).s
186¼ '-
Opening . .. .... . ..... .... ....... . . ....... .
Highest ................ .... ....... ...... .
Lowest . . .................. .. ............ . 1
Closing ................. .. .... ...... . .. . . .
111¼
111¼
111¼
Ill¼
126¼
127
125¾
126~
10()¾
100¾
lOO}s
100½
112%
1~
127¾
125~
1~¾
101¼
100):f;
101½
Opening ................ . ................ .
Highest ....... . .......................... .
Lowest ........ .................... .. ..... .
Closing .............. ....... .... ........ . .
110
112¼
109¼
112>2
126¼
128:1,(
128¼
128¾
100½
100½
100½
100¼
xlOO¼
101~
l<><n1!
101~
OpeTJ.ing ............................... .. .
Highest ....... . ......................... .
Lowest ......... .. ........... . ....... ..
Closing ................ . ............... ..
112¾
112½
111¾
111¾
x129
129
12~¾
128%
xlOOJ.g
100¼
100
100
101½
101½
100¾
101½
Opening ............ . ........... .... ..... .
Highest ...... . ........................... .
Lowest ................ .. . . ... . ..... . ... .
Closing .. ... . . .. ...................... . .
111¾
111¼
110¼
111¼
128J,(
129¼
127
129
Opening ......... . .................. .. . . xllO¾
Highest . ...... .......... .. .............. ..
110¾
Lowest ...... . .. ........... : . ....... ..... .
110¼
Closl~ .. . . ... . . . . . ................... .
110¾
129
120¾
12!
11~
111,.(
112¼
11.,9~
112!>.i
112¼
lll¼
112¾
112?(
112¾
11~
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xlll~
112).s
Highest ................................... .
Lowest ....................... ....... . ..... .
111'9
()loeing.... ................... .
112
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4¾s, 1891. 4s, 1907. Ss,{}~ton 6s, g~fcy
1
102
102½
LOO¾
100¾
X
X
March.
Opening ......... . ........ . ....... .. .... ..
Highest ........................... . ...... .
Lowest............................... ..... .
Cloeing ........................ . ...... . ... ..
liRegtstered Ilonds.
X
12!5,i
126¾
l~J:t;
l~~
126¼
126¼
125¾
126
126¼
127¾
126
~
Fleptember.
l-001i
101¾
102¼
101lk!
101~
:i"~~~·~~: .. ...............
October.
November.
l-
December.
X
X
126
127
125¼
127
128¼
128½
X
lOOIJ:!
100¾
100¾
100¾
100¾
101
100¾
101
185
185
135
186
188),(
134
JSS
138~
182¼
182¼
182
182
UNIT.EIJ
STATES SEOURITIES.
188'2'.
CouJ>Qn Bonda.
Coupon Bonds.
Registered Bonda.
~~_'0
~.1891. 4s, 100'7, 6a,1
~fcy
Yl68 ,1
-------------------------------1•--------------January.
July.
Opening ..... ........ ........ , ........... ..
lllghest ••.•.••. . •••.••••• . ••••••••••••.••. ,
Lowest ••• ••• .•.• . ....•. •.• •.• . •..•.•... .•. .
Olosing •• •• •.... ....•...•••...• .•• .• •••• ••
February.
Opening •••••••.•........•••••••.....•.•••..
Highest ............................... .... .
Lowest •••••...•••••.••........••••.•...•.•.
Closing ......... . ....... .... ............ . . ..
March.
Opening ................................ .
Highest .................................. .
Lowest..... . ................. ... .... ....... .
Closing .................................... .
April.
Opening ................................. .
Highest ... .... ... .. .... .... ... ......... .
Lowest ....... .......... ... .. .......... ... .
Closing ................................... .
X
110¼
110¾
109;14
110¾
x127½
110¼
110¼
110
110
128¾
134~
137¼
12 ¾
ltli¾
13~
134¾
137¼
137¼
137¼
109
100¾
lt8
129¾
128
129½
135
135
135
135
13f»4
186%
136½
136%
110
110¼
128¾
120:¼i
128¾
12{1¾
134%
li!4'¼
184¼
110¼
110¾
129
129¾
lO&U
109%
110
110¾
May.
Opening .••.•.••.....••.••.•.•......••....
Highest ........ ............. ..... .... .... .
Lowest .................................. .
Closing .................................... .
June.
Opening ............. ... ... ... ............ .
Highest ................................... .
Lowest .................................... .
Closing............................ ... .. .... .
X
128¼
182¾
182¾
126¾
128¼
182xa
128¾
128¾
110¼
128¾
110%
129~
109¾
109¾
109¼
109~
129¾
129¼
129
129%
182¼
l.34%
137¼
137¼
137½
137½
187¼
187¼
137¼
137¼
xl32),,(
13~
13i~
132~
Reetatered Bonda.
4¾s, 1891. 4s, 1907. 6s, ~:oy 6e~'.cy
1
109~
Opening •••••••••••••••••••••••••••. •...••
109¾
Highest ................ ... .............. .
1087/4
Lowest. . ............. .... ...... ....... .
109
Closing ........ .. ...... ................. .
Aua-ust.
108':(
Opening ................................. .
110¾
Highest ..................... ...... .. .. .. .
108
Lowest ..... ..... ........................ .
108
Closing ................ .. .............. .
~eptember.
Opening ................................. . x108¾
108¾
Highest .......... ... ...•..•.•.......•.....
108
Lowest .... .......... . .................... .
108¾
Closing .................. . .............. .
October.
108'¼
Opening . .... . .......... ............. .. .
108¾
Highest ....... . .......... . .............. .
108¾
Lowest .... ......... ......... . ....... ..
108':(
Closing .. .......... ..... . .............. .
November.
109
Opening ................................. .
109
Highest ................•.•••••.••••••...••
108¾
Lowest ........... .. . ...... . . .. . ... ...... .
108¾
Closing ............. . .................. .
December.
107
Opening ................................ .
Highest ........•...•.....•..•••.••........
1~
107
Lowest .....••.........•••.• .'.. ..•........
108¼
Closing ................... ······· - ··· ..
x128J,s
128¼
127}4
127!,(
188
127
128¼
125¾
125¾
128
128
128
182
131
131
129
129
129
129
128
120¾
125¾
124¼
124¼
xl24¼
126¼
124½
126½
127
127
127
127
126¾
12fl!I(
126¾
126¾
12~¼
126¾
124¼
12~
1888.
CouJ)On -Bonds.
Coupon Bonds .
Registered Bonds.
Registered Bonda.
- - - - - - - - - - - - - - - - - 4¼_s_,~9-= _48_,_1_9_~•- 6_s,_l~_~r: ~s_
,18_c~_r_:c_y ,__________________ ~-s_,1_89_1_. j_4_s_,_rn_o_7_. 6s,l~_~_J_
:c_y 6_s_i_mf_0'.c_y
January.
Opening ...... . ............. .
Hi11:hest .................................. ,
Lowe11t ................................... .
Closing ....... ... . . ... .. ........•. .••••.••
February.
Opening ................................... .
Highest ..•.................•.......... . ....
Lowest ..............................•.•...
Closing; ........ ... .............. ...... ... . .
March.
Opening ......... . ..................... ..
Highest ....... .............. ...... ...... . .
Lowest... ......... ......... ...... ......... .
Clo1ing ................................ , ... .
April.
Opening ................................. .
Ht1rhest ... .... .... ... ........... ......... .
Lowest ......... ........ .............. . .. .
Clo ■ ing ................................... ,
X
107½
108½
107½
108¾
126
126¾
125}4
125¾
108
108
107¼
107¼
126¾
12fl¾
125¾
125¾
106¾
106~
106¾
106~
100¼
1077./4
106½
107¾
1.!5¼
196¼
125¾
125¾
xl23~
126¾
123¾
126¼
May.
Opening ................... ...... .... .. .. .
Hi1rhest .•...............••..•.....•••.•...
Lowest .................................. .
Clo ■ ing .................................... .
June.
Opening ....... ...................... ..... .
Hlghe ■t ................................... .
Lowe ■t .................................... .
Olo ■ing .................. .......... . ........ .
107¾
108¼
107¾
108¼
X
107
107¼
107
107¼
126¼
127¼
126¼
127¼
127¾
128¼
127½
128¼
July.
107¾
Opening ................................. .
107¾
Hlghest ........ ....... . .. ....... ... ..... .
107¾
Lowest. . ................................ .
107¼
Closing ................................. .
Au1ru11t. ,,
107¾
Opening .. .... . .• .. .. ........... . ...... ...
107¾
Highest .................. : .............. .
107½
Lowest ...... . .... . ................. . .... .
107¾
Closing ........... ..... . . . .......... . .... .
Fleptember. •
Opening ................................. . :z:106¼
106¼
Highest ...................•.........•.•...
106%
Lowest .... . ... ............... ....... ..... .
106¼
Closing ...................... ... ......... .
Octobe1•.
1~
Opening .. ................ . ......... ... .. .
108¾
Highest ................................. .
108¾
Lowest ............................... .
108¾
Closing ................ . ................ .
November.
Openlng ... ... . ... .. ..... .. .......... .... .
108¼
Highest .................................• • 109%
Lowest . ...... . ......... . .... . .. . ........ . .
108¼
109¾
Closing ................................ .
December.
Opening ..... ... ... . ........ .. .......... . x108¼
IDghest .............. ... . ................ .
108¾
Lowest ....................•..............
!08½
Closing .............................. ..
108¼
127
127
127
127
127%
127'"~
1277,4
127'¼
\
,....
I
'V
x127¾
127¾
127¼
127¾
127
127
127
127
127¾
128¾
127¾
128¼
128¼
180
128¼
180
xl29
129
126¾
127¼
129¼
129¼
129½
129½
127¾
128¼
127¾
128¼
130!,(
180¾
180¾
180¼
128¼
128½
128¼
128¼
1889.
Coupon Bonds.
January • .
Opening .................... .
Hl11:hest ........ . ......... . .......... ..... . ,
Lowest ••................................. . .
Closing ........................... ....... .
Feb1·uary.
Opening ••.•..........................•.....
Highest •.•. .. ...... .. .... . .... .. ...... . ... .
Lowest .... ... ... .. .. .. . ...... ...... ... ... .
Closing ................................... .
Ma1·cb.
Opening ......... . ...................... .
Highest . . • . . . . . . . . . • . . . . . . . . . . . . . . . . . . • . . .
Lowest.............................. . . . . . . .
Closing.....................................
April.
Opening ....................... . .. ... .... .
Highest ............ .... ................. .
Lowest ................................ ....
Closing .... .......... . ... ................. .
p1oslu11, .................................... .
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Registered Bond&
---- ----- ---- ----111---------------108¼
109
108½
109
x126¾
128,:!
126¼
128¼
109
109
109
·100
128¼
128¾
128¾
125%
108,-~
120¾
l2P¾
107➔-(
108¼
108¾
106¼
108¾
lOS~
May.
Opening ................................. .
Highest .................................. .
Lowest ....... ... .. . ..... .. .... .......... .
Closing .•..•.•...... ... . ... ...• •• .•••••••...
June.
Opening .. .............. ... . , . , .•••.••••..
Highest ... ............... •·• : :,, 1:!n: .. ··
Lowest ..... , ........ , .... ,,!., ...... ,, , ... .
Coupon Bonds.
Regi11tered Bonds.
t2~
129¼
x128%
129
128¾
129
129%
".
X
10611!
106%
100~
106:¼
129¼
129)4
129¼
129¼
129¾
129¾
129Qa
127½
127¼
127¼
127½
July.
106¾
Opening ................................. .
106¾
Highest ......... ... ..... . ............... .
106:}.t
Lowest. . ... ..... ...... ....... ........... .
1061},!
Closing ........ . ......................... .
August.
106%
Opening ... . ... ...... ....... . .. . ..... .. .. .
106¾
Highest . . . ...... .. ... ....•........ .......
106%
Lowest .... ..... ...............•...... ....
106%
Closing .................................. .
~eptember.
Opening ................................. .
Highest ............• .. ... .. ..... ... .......
Lowest ... . ......................•...•.....
Closing .. ........ . ... ... ................. .
Octobe1·.
'
105¾
Opening .. ...........•.... . ............ ...
105¾
Highest .... .. . . .................•.•......
105¾
Lowest •...........• ...•...............
105¾
Closing ................ . ................ .
November.
105½
Opening ................................. .
105½
Highest .................................. .
Lowest .................................. .
105¼
105½
Closing ... ............................. .
Decembe.-.
Opening ................................. . xl04~
Highest ...... ... . ....... . . . ....... , ...... .
10:1
104~
L1>west ...••.....•.....• .,., . ....•.. ., . .. .
Closing .......... ..••. , . . ........... .. ..
106
xl28½
128½
128¼
128¼
128¼
128¼
128
128
128¼
128¼
127¼
127¼
X127¼
127~
127
127
127
127
127
127
1~
125¾
125%
12ii¾
12.7¾
r
127¾
1~m
~7~
--
'"
UNITED
52
ST.ATES SEOURITI.ES.
1890.
Coupon Bonds.
Registered Bonda.
¼_s_,_~_1.~~~1-~-\_~_r_~_
______________ 4__
1
January.
Opening...... . .............. . . ••• .. .. .. • ..
Highest.... .. . .. • • . • . . . • .. • • . • . • • •. . • • . • . ..
Lowest..... . . . .. . • . . • . . . • • . • . . •. • • • • • • • • . . .
Closing ............................. .. ~...
February.
Opening •. • •. . . . . . . . . . . . . . . . • • • • . . • . • • • •• • ..
Highest . . • . • . .. . .. ... . •. . •. . • . . • • • • . .. .. . ..
Lowe1t .. . •. . .. . . . . •. . • . . •. . . • . . • •• .•• • .• • • •
Closing • . . . . . • . . . . . .. . . .. .. .. . . . • • • . • •. . . .. .
March.
Opening . ........ . ........ . •..••..•...•...
Highest . . . . . .. . . . . . • . • . . .. .. • . • . . .. . . .. . ..
Lowest............................. ...... . ..
Clo1ing ... . ........................ ..... •...
April.
Opening . . . . • • . . . . . . .. .. • ...... . ...•..••• ,
Highest ................................ . ...
Lowest . . . . . . . . • . . . • . • . . . . . . . . . • • . . • . . ... • .
Closing.................... ................
•
July.
Opening....... ..... ........ . . . . . . . •. •• .• .
Highest..................... .. . . . . • . . . . . ..
Lowest .... . . . . . . . •. . . . . . . . .. . .. . • . . . . . . • .
Clos!~.................... ...............
104¾
104¾
l0!l¼
104¾
128¾
128¾
123¼
128¾
Opening ................................. .
Highest ................. .. .............. .
Lowest .................................. .
Closing .................................. .
108¼
108¾
108½
108¾
123
123¼
122
122¼
Opening ......... . . ...................... .
Highest .................................. .
Lowest.. ... .. .............. ...... ... . •.•.
Closing .................................. .
103¼
108¼
108¼
103¼
122¾
122¾
122
122
Opening .. ............................... .
Highest ................................. .
Lowest.... . .. .. . .. .. • . .. •. . . .. • . . • •. . .
Closing ................................. .
November.
Opening ................................. .
Highest .................................. .
Lowest ........................ . ........ ..
Closing ................................. .
December.
Opening ................................. .
Highest ............... .. ................. .
Lowest .................................. .
Closing .. .. • • . . • • . .................... ..
122
122¼
122
122
102¾
108¾
102¾
108¼
108
108
108
108
Auirust.
Aeptember.
122
122¾
122
122¾
121~
124
121½
124
128~
128¾
128¼
123%
108¾
108¾
103¾
103¾
October.
124¾
124¾
124¾
124¾
Registered Bonds.
_______________ ~_~_1_~_1_._h_,_1_00_7_.~_~_J_~_y6_•_t_~_f_~_J
126¼
126¼
125
125
May.
June.
111
105
105
104!14
1049:(
Opening...... ........ .....................
Highest . . • .. . . .. . . . .• . . .. . . .. .. . . .. . . • •. . .
Lowest . .. .. .. . .. .. . . . .. .. . . • • .. • . .. . .. • ..
Closing........................ .. .. • .. •• • ..
Opening • . • •. .. . . . .. .. . • • . • .. . . . • • . . .. . . . . .
Highest .. . .. • . . . .. . • . . • . .. . . . . . • . . . . . .. • . ..
Lowest....................... . . . . .. • • . . • • • •
Closing......................................
Coupon Bonds.
125½
126¼
124
124
122%
124~
122%
124
104
104
104
104
124
124
123
128
1221}!
123¼
122
123¾
115
115
115
115
JS91.
Coupon B onds.
Coupon Bonds.
Registered Bonds.
4¼s, 1891. 4s, 1907,
1898.
Registered Bonds.
6s, cur•cy 6s, cur'cy
6s, cur'cy 6s, cur'cy
4½s,1891. 4s, 1907.
1800.
1898.
1800.
- - - - -- - - - - - - - - - - - 1 - - - - - - - - - - - - - - - - 1-·--- - - - - - - - - - - -
January.
121
llH¼
120¼
120¾
Opening ... .. ... ........... ..
Highest .... .... . ......... . ................ .
Lowest .................................... .
Closing ........................... ....... .
February.
Opening ................................... .
Highest ............................ ... . ... .
Lowest .................................... .
Closing ................................... .
121
121
121
121
March.
Opening ............................... ..
Highest ................................. ..
Lowest........... .... ............... .... . .. .
Closing .................................... .
April.
Opening ....................... .. ....... ..
Highest .................................. .
Lowest .................................. .
Closing ............. ...................... .
May.
Opening ............................. . ... .
Highest .................................. .
Lowest ........................ ....... ... .
Closing ............. ...................... .
June.
Opening ............. ..................... .
Highest ........ ... ........... ...... ....... .
Lowest ................................... ..
Closing....... . .................. .......... . .
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
121¼
121½
t21¼
121½
102
102
102
102
122
122
122
12a
July.
Opening ...... .. ................. . ....... .
Highest ................................. .
Lowest . ................... ............. .
Closing .. ... ............................. .
August.
Opening ................................. .
Highest ................................. .
Lowest ............................ .. .... .
Closing ......... . ...... . .. ..... .. ... . .... .
!ileptember.
Opening ............. .... ......... . ..... . . .
Highest ........ ......................... . .
Lowest ................................... .
Closing . .... . . ............. . ............ .
October.
Openinl,l' .. , .. . .... . ............. . ....... .
Highest ................. ...... .......... .
Lowest .......... . .. .................. .
Closing ... . ............................. .
November.
Opening ..... ..................... ..... .. .
Highest .............. .. ..... ....... ..... ..
Lowest .................................. .
Closing ............. .............. ...... .
December.
Opening . ........ . ...................... .
Highest ........ .......................... .
Lowest . ................................. .
Closing ... . ........................... .
100¾
101)¾
100¾
100¾
117
117¾
117
117¾
100¾
100¾
100¾
100¾
116¾
116¾
116:l{
llf ~
118
118¼
117
117¾
116x!
117
116
117
117
117
116¾
116½
117¾
118¾
116¼
llS¼
118
118
118
118
SECUR ITIES.
STATE
PRICES
FROM
1860
TO
1891,
INCLUSIVE.
The most important tramaction in regard to State debts in the year 1891 was the settlement effected between ·
the State of Virginia and the Olcott committee of bonuholders. The work of the committee, embracing the
full correspondence and the final terms of agreement, was set forth at length in the CHRO ICLE of
November 28, 1891 (V. 53, p. 799, &c. ). The proposed adjustment was to be made as follows : That there be
an issue of 819,000,000 of bonds, having 100 years to run, bearing interest at 2 per cent per annum for ten
years and 3 per cent for the remaining ninety years, and that the new bonds issued are to conform in their general
character to those issued under the Riddleberger Bill. These bonds are to retire 28,000,000 of debt outstanding
(excluding bonds held by the United States and the schools and colleges of the State); under this plan there
will be issued $19,000 of new bonds for every $28,000 of old indebtedness surrendered. For the West Virginia
portion of the old bonds and interest thereon similar certificates to those issued by the State under the Riddleberger Bill are to be given. The new bonds will bear interest from July 1, 1891. This proposition was agreed
to by the State Commissioners, including the Governor, and by the bondholders' committee and advisory committee, and was approved by a joint resolution of the Virginia Legislature which passed the Senate Jan. 22
and the House on tne 23d.
The Elernnth Amendment to the Constitution of the United States provides that the judical power of the
United States shall not "extend to any suit in law or equity commenced or prosecuted against one of the
United States by citizens of another State, or by citizens or subjects of any foreign State." It is under the protection of this provision in the fundamental law of the land that States remain free from prosecution on their
debts, and that State bonds become virtually obligations of honor only. In various ways the cred itors of States
have endeavored to bring suits for the collection o:: their debts, but the United States Supreme Court has looked
with disfavor upon such suits and has been dispo .. ed to uphold the Eleventh Amendment. An effort was made
to hold the State of Louisiana responsible by having the action brought in the name of the State of ew Hampshire as plaintiff, the bonds having been assigned o that State for the purpose; but the United States Supreme
Court decided against this proceeding.
The method adopted to give bondholders a remedy against repudiation by States, through making the
coupons receivable for taxes, was held in Virginia :;o form a contract with the bondholders which could not afterwards be annulled by act of the Legislature. But the practical benefit of this contract for bondholders was much
lessened by the subsequent legislation in the ·state prescribing vexatio!ls proceedings for the bondholders to go
· through with before they could make their coupons available, and the litigation was severe and prolonged_. the
suits on this question having been carried several times to the United States Supreme Court; and although. the
validity of the coupons as a legal tender for taxes was affirmed, the victory did not prevent the State authorities
from throwing every obstacle in the way of bondholders, a}ld m the new adjustment of the State debt with the
bondholders' committee in 1891 no attempt was m de to have the coupons made receivable for taxes.
1860 to
ts•n
tnclostve .
l>ia on Friday of each week: in 1891 from sales.]
LPrices from 1860 to 1871 are compiled from sales, and 18';"1 to 1890 from prices
DESCRIPTION.
,
1860.
Lowest.
1861.
Highest.
Lowe8t.
Ohio 6!.". 1886 ... .•...• !06½ ,Tan. 113¼ Ang. 87 Dec.
Kentucky6 . .. . ...... 99 Dec. 106.h JunP, 65 .April
l!!•,l~t.I~p.li~~~~~i:i8g
lll.6s.'79.cou .•••..•. 104,¼May.1C6¼Sept. 75 June
0
·sii···.j,iii:· ·gg° ...A,~·.- "75 ...jtij".
Michi g an p er cent... 98 Mch. 106 Ju~e 77 Del.
TennePsee 6 per cent. 64 Dec. 9:3 Jun e 34¼ June
T en. 6 p. c. new brls... . •. . . . .. . . . . . . . . . . . . . . . . . . . . . .
Virg~ma6percent.... 73 D ec. 95 1\Ich. 36 April
Va. 6 p. c. new bds.... . . . • . . . . . . . • • . . . .. . . . . . . • • . . . . .
N.Carollna6p.c. ..
77¼Dec. 100 Sept. 44 Juue
l86t.
109
97
1863.
1864.
Us1 5.
-------1-------1-------Highest.
1-----"'"'-J
L owest.
HigLe t.
Lowest. Highest. Lowe t.
Lowest. Highest.
High est.
Nov. ~~ ~~ ... . •.. ..... ............. . ..•••• . ~
70¼ Jan. 100 . Dec. . . •.. .. . . . . . .............. . .... . .... , •..... .. .....•.. . . . .•.•.•
F~ 93~- 115
Jan.
~~t rn~~~~fy. :::::::.::. :::::::.::: ::: .::::::: ::::··::::. ::::::::::; ::::::::::: ::::::::··· :·:···:•···
~~d~:!f ~~c~·ni::::
f
~~ 8JrJp'e~iea7~~!: :::: :: ::::·
:: :: :: :::::
M1e~O!]n6percent .. . 61 Dec. 84¼ June
Lo~1s1ana 6 per cent.. 94 _Jan. 99½ Oct.
California 7 prrcent .. 82 Jan. 95 Sept.
1066.
DESCRIPTION.
Lowest. Highest.
Tenn. 6 per cent
•. 84 Mar.
Tenn. do. uew bdl".. .. . . . . •. . . . . .
Virginia 6 per cent.•.. 60 Nov.
Va. do. n ew bds ..... ........ . ..
N. Carolina 6 per cellt. 73 Nov.
N. C. do. new bds. .. .... •• . ...
N. C. do. Special Tax. . . • . . • . • .
Mis~o~ui 6 per cent... 71 Mar.
Louisiana 6 per cent •. 80 Jan.
California 7 per cent.. l()() April
C
D~;_n_,.ec ti cu t6
. ..111. • . ••• • ••• • • • • • • •
t+uuue 1+ii1an" 60. .•• •• . . . . •. . . . . .
·.....,.;>-<.
... ,
..
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
85,¼'Sept. 80 !,,( Jan.
"93··-x ·~ii
J!~ saa¾ Opt
•.I.' J
Fa n..
c . ", ,;.a.
77 Mar. 42'- Jan.
. • . . . . . . , . . . . . .. .
81 Mar. '4!: Jan.
. . . • . . . . .. . . . .• . . . .. . .
82,½Feb. liO ,Jan.
+~
:::::::::: : : : :. ::::::·
35 May. 72 Jan.
45 May. 77¼ Mar.
71,½' May 88 Jen .
18ti7.
Loweet.
110 Dec .
l0845¼Dec .
May
105 Dec.
63 Feb.
.... ... ....
65,¼Oct.
..... .. ...
74 June
::::::::::: :: :: ::.: :::
40 Jan. 56¼'Feb.
59 Jan. 70 Mar.
76¼ Jan. 116¼ Dec .
18ti8.
Highest.
L,J west.
................ :::
... . .• .•...... .... .. .......•• ::: .".:::.::::
......... . . ····· · ·•• •· ....... . .... . •• • ••. .
..............
. . .. .. . . . .. .. . .· .· .· .· .· .· .· .· ·. .· .· · ··
.. ...• •· .· .· .· .· ·. · .•·. .·•·
. . .· .·
57 Jan. 67,¼ May . 52 July. 64 F eb
. . .. • . . . . . . . . . . . . . . . . . . . . . . . .
. .
49 Dec 75 Feb. 47 J an·. 64 ·sept·.
. . . . . . . . .• . . . . . . . . .. . . . . . •• . . •
. .
53 Dec. SO Mar. 49 Jan: .63 .
::::::::::.
....•....
·. ·. •. · ·. ·. ·. .· ••
·· .·
50 Mar.
:: : :: ... :: :: ::: :: ::::
59,¼Dec . 75 May .
55 Nov. 80 Mar.
114 Aug. 1~9¼' Mu
1869.
.... :: ::: :: :::: :::::::
51 Mar. 79 Dec.
60 Feb. 80 Dec.
112 May. 155 Jan.
1811.
0
·w""jiiii." .78...Nov:
.Aiig: 5g.. 'jtiii·_-
Highest.
Lowest.
Highe8t.
.::: :: :::: · :::: ::: : : ~
60 Oct. 75¾ April
52 Feb. 75 April
123 Jttn. 167 Aug.
1870.
Lowest.
Highest.
··:::::::::
·······• •••
· •••
• •• ·•· ·
. . . •.....•
92 Dec.
Lowest.
100 Jun e
•
. ....•
72 Jan.
. ... . . ....
88 Jan .
•.•. ..• . ..
•. . . . . . . . .
93¼' Dec.
100 Sept.
·s5".iiec:
Highc~
x61 Jan. 70¼ July. x5!J'l'/g Jan. 78¾' June x49¼' Dec. ~O Jan. x52¼ Jan. 70 July. 61 Dec. 76 Aug
. .. ................... .. .... . ......•.. .. .. 40¼ Dec. 69¼ Jan. 45¾ Mar. 68¼ July. til Jan. 76,¾ Ang
41 Mar. 60 Jan. x43¾ Jan. 60 May. x47 Dec. 59¾ Jan. x48½ Jan. 76 Mar. 59 Oct. 74 ,!i.J)d
••..•. . .........•....... . •• . ....•...•...... 49 Sept. 63.¾ Jan. 57 Jan. 73 Mar. 60¼ Feb. 75 _ .
45 Mar. 60¼ July. x50 Jan. 79 June x40¼ Dec. 66¾ JaTI. x.40 Jan. 55 July. 31 Dec. 51¼' Foo
. •.••.•••.•.•..•.• .... .•.••.........•••.•• • 27 Nov. 64 Jan. 20,¼Dec. 36¼ July. 15¾ Dec. 29¼ ~
. . . . . . . . . . . . . . . • • • . • • . . .. . . . . . . . . .•.•..•.•.....••.•.•.•...••• ..•.•...••••.•••.. . ••• • • · · 12¼ Dec 21¼ Feo
86!.{ Mar. 106 Jnly. 84 Nov. 108 Feb. 85,._ Sept. 96¼ June 85 Jan. 95 June 89 Jan: 9!1¼ "1:rrV
80 Feb. 9(1 Jan. . ... . . .. .• . •••. •. . •• . •..
• .
1~ Oct. 115 Ja • l28 •• De
n
u
• • ·•
•· •· ··• · ·· • •···•·· •·· ••••••• ••• · • •· • ••·•· · ••••• ·
n
c. 128
...,ec. l34 ..,.ar.
•·· •·•·•···•······•··
••··••••··········•••·••··
·•·•···•········
• •• • •• • ••• • 98¾ Jan. 102
Sept,
... . ............................
..................
,. . • . . . . • . •• ••••• •••••••
•• •• ,., ·
•. .• ••• ••. 89 · April 100 Mar. . ....•• , ............... ........ . .................. •~ .••• .••• •. •.••••••• : •• : •.••• ,:;::-
-----
----
....:.
• ......,;
-
-
c;.
-~---
-
-....
--
-'-'Ii
; . ~.,e-"[
~-
~#
-
S2·.ATE SEOURITIES.
54.
187~ to 1877, tnclu1lv~.
1872.
DESCRIPTION
I Lowest.
Mar.
80 Aug.
40 Nov.
50 Aug.
109 Sept.
98 Jan.
70 Jan.
84 Feb.
·9e5··ian·.·
50 Oct.
Al abama-5s, 1886 .. . . . ...... 55
8s of 1888 ............ . ......
A rkansas-6s, fund . .... . .. . .
7s, L. ltock & Ft. Smith ...
California-7s ................
Connecticut-6s .•............
~eorg1a-6s ...................
7s. new .. . ...................
.llllnois-6s, 1879, coupon ....
Kentucky-Os .. . .............
Louisiana-Os, Levee ........
Mi~h~~~~~as·.
i883:::: :: :: :: :
Missouri-Os, iong ............
~g~t~f
New York-6s, bounty. coup
No. Carolina-Os, old, J. & J. 30¼May.
15
10
6s,new, J. &J ... .. ..... .. ..
6s, special tax ..............
Oh10-6s, 1886 ................
Rhode Island-6s ............
South Caro!ina-6s ........ . ..
Jan.
Oct .
·i;ii .. iaii."
40
Apr.
Jan.
g:: i.~t::::: ::::::::: :: ::: 2322 Sept.
Tennessee-Os. old ..... . .... 63¾Jan..
6s, new ...................... 63% J a n.
Virginla-6s, old ........ ... .. 42 July.
6s, consol. ................ . .. 50½July.
Highest.
Highest.
Lowest.
Highest.
62¼ May.
90 Jan.
57.½ June
60 Feb.
115 June
102\.i; Dec.
77 Jan.
90 May.
39 Dec.
45 July.
35 Mar.
23 Jan.
114 Nov.
106 Dec.
80 Dec.
92 Dec.
102½ June
102 Nov.
28 Nov.
D Pc.
Dec.
Jan.
Mar.
Jan.
10;:l Jan.
80 Jan.
88¾Jau .
99 Jan.
100 Jan.
25 Jan.
4l½Jan.
42 Apr.
88 Dec.
17 June
117 May
110 Dec.
96 Sept.
104 Dec.
104 Dec.
104 Dec.
40 Dec.
ioi··u;;<i:
98¾Dec.
110 May.
29 Jaa.
21.½Mar.
ll ½ Feb.
106½ May.
105 Dec.
30 Nov.
31 Dec.
30 Dec.
91.½Mar .
91½ Mar.
42 Jan.
58 Dec.
io1··yan·:
94:¾Jan.
105¼Jan.
15 Den.
7 Dee.
1 Aug.
103 Jan.
102 Jan.
26 Sept.
27 Aug.
26 Sept .
62 i·eb.
62 Feb.
30 Feb.
55 Jan.
102;),4 June
109 June
27 Jan.
16 Jan.
4~May
108 Sept.
108 Oct.
35½ Dec.
35 July
35¾ Dec.
78 Jan.
7~Jan.
40 Oct.
76 • Dec.
Lowest. Highest . Lowest.
·- 45 July 57 Jan. 25 Jan.
45 Aug. 82 Fe
40 Apr.
8 Sept.
25 Ju n e 40 Fe b:
15 N <>v. 27 Jul y
5 Aug.
101 Dec. 116 Jun e 110 Jan.
97 Oct.. 102¾ Ju e 97 Jan.
59 Nov. ts2 May 65 Jan.
70 Nov. 91 May 82 Jan.
85 Nov. 99 Ju y 95 Jan .
ior·yuly. 95 Jan. 100 Aug. 9'7½ July.
67½.A.pr. 50 Jan. 55 .Aug. 15 June
·os··i\:ia:r· ·oi ..
·s5 ·
97½.Yiiiie &5 Oct.. 9f3¾Ju e 92~Aug.
109 May. 103 Nov. 108 Jun e 103 Jan.
38)4Mar. 20 Oct. !33~ Jan. 18 June
23 Mar. 14 Dec. 19 Jan. 10 .A.ug.
16 Mar. 5 Nov. 17l1! Jun e 5 Sept.
99 Nov 107 Apr. 100 Jan.
ioi;½June 98 May 101 M nr. 97 Jan.
56 July. :.:-2 Nov. 40 Jan. 20 .Apr.
89 Mar . 8 Nov. 22.½Jan.
6½ Jan.
36 Apr. 19 Mar. 28 .Apr. 12 Feb.
S0½Dec. 63¼Nov. 84¾Mar. 67 Oct.
S0¼Dec. 62;4 Nov. 85 Mar. 67 Oct.
56¼Feb. 82 Oct. 47 Feb . 28 ,Tune
5:> Mar. 44 ~Oct. 56),;!Ma r. 49¼ Jan.
j'an·.·
·No·v:
25
25
20
8
105
1877.
1876.
1~.
1874.
1878.
io1½6ct" ·
Lowest.
f!ighest.
26
26
25
85 Nov. 82
84 .Apr. 82
45½Feb. 15
18 l<'eb.
2
3
Jan.
,Jan.
June
Dec.
Loweat.
Jan.
Jan.
July
Aug.
Highest.
4.3
43
30
10
Nov.
Nov.
Jan.
Jan.
N<>v:
io5 .. Ya.ii. iis...
ioo··oct: · iia··yuna
91 Aug. 97 Mar. 93 Feb. 102%July
100¾ Jan. 107.½ June 103 Jan. 109~Mar.
100 July. 104 Dee. 100 Jan. 103 Dec.
100 July. 104¼ Jan. 100 Jan. 107 Nov.
37 Dec. 46 May. 35 Jan. 56 Dec.
52½ Dec. 69½ June 50 Jan. 88.½May
103 Aug. 107 Apr. 101 July 107 3une
101¾ Jan. l0ffi Rept. 104¼ Jan. l0Sl:June
102 July 10
May. 101 Jan. : 01 Feb.
13 Sept. 18½ Nov. 15 Oct. 23 Jan.
5 Oct.
9 Jan.
6 Oc t . 12 Feb.
1 Aug. 3.½Jan.
¾Aug. 3)4Feb.
105 Jan. 114 Aug. :05 Oct. ll4½June
105 Jan. 111 Dec. ~05 Oct. 111 May
30 June 40 Nov . 32 Jan. 45 Apr.
30 June 37½;Feb. 30 Aug. 45 Apr.
30 June 371/4Feb. SO Aug. M .A.pr.
40½Dec. 49 .A.ug· 36.h ,Dec. 47~Nov.
40 Dec. 49 Aug. 35 Dec. 46 Nov.
22 Sept. 87 Jan. so Jan. 84 Nov.
73 May. 78¾Nov. 62½Dec. 83¾ J1:°e
~
18f8 to 1883, inclusive.
1878.
1879.
1880.
1881.
1882.
DESCRIPTION.
Lowest.
Highest.
Lowest.
Highest.
Lowest.
Highest.
Lowest.
Highest.
Lowest.
1883.
Highest.
Lowest.
Highest.
Alabama-Class A, 3-5s.1906 ... . ........... .. ... .. .. 44 Aug. b3 Dec. 54¾ Jan. 73¼ Dec. 71 Mar. 81¾ Dec. 79 Sept. 85¾ Dec. 80 July 84 J
Arkansas6s,fund,.18911-1900 15 Dec. 26½Jan.
5 .A.pr. 20 Jan. 10 Apr. 21 Dec. 20 Jan. 39 Dec. 20 Mar. 37¾Jan. 10 Mar. 28 J~:
7:1, various RR. issues..... 2 Dec.
6 Jan.
1 Mar.
8¼ May
2 Aug. 12¼! Dec.
8 Apr. 40 Nov . 5 June 35 Aug. 7 Oct. 68 Feb.
Connecticut tls ........ 1883-4 105 Jan. 109 Apr. 10-1 Apr. 109 June 104 Aug. 107¾ Nov. 102 .A.~. 106 July 100 Mar. 103 Jan. 100 Jan. 103 June
G~~.r~~aw6_s
1~lH!~: ½?~¾i>1!118~ ~:~~• m¼t'!ll. 18~
ieb. 113 June 103 Aug. 109 Jan. 102 Apr. 107.½Jan.
7s,gold . ........... . ... 1890 105½ Feb. 109 Dec. 107 Jan. 113 June 109 Apr. 116 Dec. 111 A~~:
}~~¾i~:. ½~~~~(3
Louisiana 7s, consol. . . 1914 69¼ Dec. 84½ Feb. 36¼ Aug. 67.½ J n. 40 Aug. 54¼ nee. 53¾ Jan. 00 Dec. 63 Apr. 71½ July 63 Apr. '76¾ Nov.
Michigan6s .............. 188Sl0l Jan. 106 Dec. 101.½Jan. l06_½Junel02 Jan. 105,(Nov.102 Jan. 105 Sept.100 July 104 Aug ...... .. ....... .
7s ... .. .. . ............. 1890 108 May 115 Oct. 100 July 115 Jan. 110 Jan. 118 Dec. 114 Jan. 1!2 Oct. 110 Jan. 120 June 114 Feb 118
Missouri tls ........... 1882-83101 July 104¾ Dec. 101 Aug. 105½; June 100 Jan. 105 Nov. 102 July 108 July 100 Jan. 103 Dec. 100 Jan· 103 Jan·
6s ... .. ... . .......... 1881HJ0 102½ Au~. 107 June 103;¼ Aug. 108¼ June 105½ Jan. 111¼ Dec. 108¾ Jan. 117 Apr. 109 Jan. 115 June 109 July Jl3 June
-9i
ASepprt. f0069uJJuunnee
JJaann .. 112 uJMuanye 106 JJaann .. 115 Nov. 111 Jan. 119 May ll3 July 120 Nov. 116 Feb -.•,1 June
~·1a1~~i&ngtonJ~!e..p·h·.~~~t88
H
102
10 7>4
S
;4
110 Dec. 107 Jan. ll3 May 100 Jan. 109¼ Dec. 108 Jan· 110¾ Apr
New York 6s .......... . .. 1887 113 July 115 June 106 ,lune 110 Jan. 106 Jan. 111 Oct. 105 .Jan. 112½ May 108 Oct. 112 June 107 Jan: 110 Apr·
6s, loan .... .. ......... . 1883 .. .. ........
. .. . .... 106 Mar. 110 June 104 Dec. 107 Mar. L02 Dec. 110 Apr. 101 June 105 June....... . ..
·
Os, loao ................ 1892115¼Jan. 124 Nov. 117 Sept.121 Feb. 115 Dec. 120 Nov. 115 Jan. 122 ,luly 119 June 121 Feb. 113 Apr.' 120 ..
No.Carolina6s,old .. 1886-98 14¼July 19).aDec. 17½Feb. 28 Dec. ~6 Jan. 82,(Dec. 32 Feb. 40 Oct. 20 July 30½Nov 28 .Jan
32 Mar
8
N. ~()
~
)t½
1ig
1ig ::~: 1tg Jan. 150
Aug. 120 July 156 Nov. 155 Jan: 160 July
1
Fundinll llCt ........ lSttS-98 ti Aug. ll¾Dec.
7 Mar. 14 .ran.
9½Jan. 1:<¼Dec. IO ban.
~uly lOO July lSO Aug. ISO Jan. 135 July
New.bonds . . .. .. . . .. 1892-98 7 Jan.
Dec.
8 Feb. 15¾Dec. 15 Jan. 20 Dec. 20 n!~:
l~½i~~!
Spec1altax,classl. ... . ....
2 Jan.
2.½Apr. 1 Mar.
5 Dec.
2 July
ll¼Jan.
6 Jan.
llll(Apr.
5 June S Jan.
4 July
8¾Jan·
C_onsol. 4s .............. 1910 . .. . • . ... . .. . . . .. . . . . . • • •....... . . . . .. . . . .. 110 .1 uly 83½; Dec. 80 Oct. 89 June 75 Sept. 82 Jan. 77½ Feb. 82¼? Dec·
Oh10 6s .. ..... .......... 1881 102 nee. 106 May 101 Jan. 105 May 100 June 103½ Oct. 100¾ Jan. 102½ June . . . . . . . .
. . .. • .. . . . . . .•. .
·
63 . ................... . .. 1Rll6 l05 Jan. 111 Dec. 105~Mar.115 Oct. 106 Jan. 112 June107 Dec. 115 Junel06 Feb. 112 June106 Feb iOO¼M···
::oi~:ol?~~cg~.Pa·cr:1~~;.9i9105 Jan. 117:¼May 110 Jan . . 116 May 10\l Jan. 121 Dec. 114 · July 120 Feb. 110 Jan. 120 Feb. 115 Jan: 118 M~·
23,'69,non-fund.1888 ... 5
¾Feb. 1 2%May
1 Feb.
4 Oct.
2 Jan.
6¾Jan.
4~Jan. 12¾Nov. 4 July l0¼Jan.
2¾May
6½Jan.
Brown
co6nsol.l6ds.
·1·s·
·9·0182983
.
8.
o
...N. o·.v... ·s··9·."",; .M.·s·y·• • 80 ...F·e·b··.· ·4··1 · · F··e· ·b·.· ·s..o·· ..A..p·r·.· 50 .. ·D·e·c. 102¾
Aug. 106½ Dec. 100 June 105 Dec. 100 July lu4!)( Dec
T ennessee s, o ...
- 45 Jan. 78 June 41 Dec. 77:k;Jan. 30 July 44¼Feb·
~s •. n~w .... . .... 1892 8-IU00 25¼Nov. 87.½Jaa. 24 Mar. 33¼Oct. 25 June 48% flee. 45 Jan. 77%June 40 Dec. 77¼Jan. 30 July 44 F .- b·
Vrrgmia 6~, old . .... . ........ , 20 June 31 Feb. 25 Jan. 35 Mar . 118 Jan. 32 Dec. 30 .Jan. 40 May 26½.June 36 Feb. 30 Ma ·. 4.0 May
6s consol. ............. . ... 66 Feb. 75 May 74 Jan. 80 Oct. 75 Jan. 105 Dec. 104 Jan. 121 May 80 Mar. 100 July 50 Mar S~Jan
ftsdeferred .. .. . . ...... .. .. . 4 Feb.
7%Dec.
5),;!Sept. 8,¼May
5½Jan. 17~Dec. 12¼Feb. 20}4Apr. 10 June 17¾Jan.
6 Oct.· 13 Jan:
tr!: }~i £:~: t8i
.:·::::::::::::J~g
mxd~~: ½~~d~f: m~:r:~·.
Jan·
}g~
½~
Ja.n:
ltR7,'coup·on; ii.~~~ ~g t~t ~g B:~:
11
1:~:
E:g:
:I:~:
fg
28 A~;_-
JJ i:~: ig 1!~: ½~ fg~·
•
1884.
JANUARY FEBR'RY.
MARCH.
.APRIL.
MAY.
JUNE.
JULY.
AUGUST. rSEPT'BER.. OCTOBER. N0V'BER. DEC'BER •.
St¾- 2
a1 - L
102 -10%
81¼- 82¾
104 -105
80 - 82
81 - 81
102 -102
82¼- 82¼
100 -104
82}.(•••• .... 80¾.. . . -
82¼
.. ..
. . ..
80½
. . ..
78¾- 79
711 - 80
98 - \19
78 - 78.½
100 -100
78.½- 79¾
78 - 711
98 - !;9
78 - 78
100 -100
78 - 79
78 - 7\l
98 - 99
78 - 78
100 -100
8 - 12½
8 - 12½
4 - 5
100 - 104
100 - 106½
100 -106¼
112 -113
....
. .. .
....
. .. .
...•
...
....
....
....
....
....
..
....
....
7
7
1
101
102
10?109
9
- 9
- 1J
- 2¼
-102
-102>2
-102½
-109.½
l~½= 2~
12½- 13
12½- 20
12.½- 20
5 - 8
100 -:--100
102 -102
102 -102
109 -109½
5
5
5
3
98
102
10~
10~
SECURITI::DS.
_ _ _ _ _ _ _ _ _ _ _ Low.Hi~h Low.High L ow.High Low.High Low.High L ow.High Low.High Low.High 1Low.Jligh Low.High Low.High .f,,iw.Higb
Alabsma-Cl. A, 3to 5, 1906.
Cla11 .A., small . .......•..•.
Class H, 5s, 1906 . .. . ...... .
Cla•s C, 4.s, 1906 . . .. . ... . . .
6s, 10-20, lWOO . ......... . ...
80 - 80
81 - 81
97.½- 98
is0 - 80
104 - 105
80 - 80% 81¾- 82
80 - 81
81 - 81
98½- 100 100.½-lOL
80 - 80½ 80 - 81¼
104 -105 105 - 105
~;!~f~~:-1\1-lds'. ?s~~;~W,~
'ls, "1emp '1is&Littlel:tock
7s,L. R. P. B. &; N. 0 .. . ...
7s, Miss. O. &; R. R........
7s, Ark. Central RR........
Georgia-Os, lti86 ............
7s, new bonds, 1886 . . . . . . . ..
7s, endorsed, 1886 ..........
7s, gold bonds, 1890 ... . .
4
0
·
L~~.i:~~~b~iid~~~
=
l K - 20
16 - 18
16 - 18
8½ · 9
108 -103
l'J2½-108½
10~ -l0H¼
111) -111½
10 - 24
18 - :&4¾
8 - 9¼
xl00-102½
104 - 105
10! -105
lll½- 112½
.1:: !.~~
rn M 20M-= ~25½ 18~5
i~ = +8 ~i
Jd~t:::;~ls~~g&r,~~:::::::11~½=1~~
Mlllllourl--6s, due 1886 .... .. 103 -104
6s 1887 ....•••......... . .. . 104 -107
is, 1888.. . ............... ., 105 -108
6s. 1889-1890 .... . ... .. ..... . 100 - lll
Asylum or Univ., 1892 ..... 100 -111
Funding lloncts,.1894-93 . . . 117 - 117
Hann ibal & St. JO., 1880 ... 110 -110
Hannibal & St. Jo., 1887 . .. 110 -110
1Y~
10-1
105
107
t!.'9
111
117
110
110
yo~:l;;tsp~~~dis1sV.·:.'.~'.
6s, foan, 1891 .............. . US
6s, loan, 1892 . ........ ft,. 115
6s, loan, 1893 .............. . ll7
~o. Carolina-Os, old, '86-'98 20
6s, old, A. & 0 . . . . .. .. . . . 20
N. Car. ltR., 1883-4-5 ... . ... 160
N.Car.RR.,7s,coupoJ:lotI135
N. Car. RR., A. & 0 ·. . .. 160
N. Car. RR., 7s, coupon off 135
115
117
29
Z9
lG"J
135
N::
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
=
+~
=1~½
-106
-107
-108
- 110
-111
-117
- 110
-110
=~
- 20
18 - 20
18 - 18
9 - 9
l(l3 -103
105 - 105½
105 - l0fi½
114 ~ - 115
½~ -= 16
gxe g9 -= ½~½
..~½= ~~.. ~~
U¾ .... - .... 7 -
15
12
12
5
- 15
- 13
- 6
10.J -104
l.05,¾-106
105¼- 106
-ll3½
111s
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11~
105
107
108
110
112
117
110
110
=1~i
-105½
-107
-109
-111
-112
-118
-1101,(,
-110½
zg½=
-116
-117
- 29
- 29
-16•)
-13.5
-160
-135
-115
-118
- eo
- 30
-160
-l85
mo -160
135 -135
115 -115
117 -118
30 • - 30
30- - 30
160 -t·i0
.1 35 -1.85
160 - 160
135 -135
l~g
104
105
100
108
109
116
108
10:i
: 1?J
-106½
-107½
-109½
-111
-115
-118
-110¾
-110½
115
117
30
30
160
13.5
160
13.5
115
117
30
30
lb0
135
60
185
-113
-115
-120
- 32½
- 32½
-160
- 135
-H.10
-135
-115
-119
- 32¼
- 31~
- 161)
-135
- 160
-135
i½
+i ~.~)4= ~~ gi = i1 r1 = g~¾
1Yg =1YJ
1'15½-101}
107 ~-lOS
10 -109¼
110 -111
112 - 114
118 -llS
110 - 110½
110 -110½
mi -lH
=½~~ mg
:}gg mg =½88 i~ :mg rn~
113 -118 113 -114 112 -113 112
-
=}&g
~
79
78
98
75
100
- 79¼
- 79
- 99
- 79
-104
79
78
98
78
102
- Si'
- 80
- W½
- 78½
-104
81¼- 83
80 - 81
100 -101¼
81 - 82¾,
10!1. -105
10
10
4
W
102
102
107
=1l
- 15
- 12
- 12
- 5
- !19½
-lOt½
-102
-107
1~
10
10
10
3
100
103
103
108
= 1~
- 10
- 10
- 10
- 4
-100
-104
-104
-110
1~ •. 1!
10 - l(,'
10 - J:C
10 - l..,
3
•\
101 -lOl
104 -105
104 -105
!10¼-111¾
~½ 1015
=
- u
- 9½
- 7½
- 3
-100
-102
-102
-110
~ = ig
:118
Jg = ~g
j~
=
W·2 +t½= +&
iio-i10· .. 1rg
105 - 105 100
106 - 106½ 100
J.08 -108.½ 103
llu -110 105
112 -114 107
115 -118 111
108 - 109 108
l0R - 109 108
=1rZ
- IO·~½
-105
- 105½
- 108
- 11i
-116
--108
- 108
1rb =1r~ 1r8
102 -102~i1021/4-102¼
105¾-106 !105 -105½
106 - 10?¾ 106 -106½
l'l6½·108½ 108 -108
107 -108 108 -109
115 -116 115 -116
108 -109 1U8 -108
108 -109 108 -108
11~ =1?t 1?~
102!,i-103¼ 103
105 -10<1½ 106
lOB}i-107.½ 107
108 -109 108
109 -112 109
115 -115 115
108 -108 108
108 -108 108
=it
-103){
- 106)1
-107~
- 109
- 110
-115
-110
-110
1Y~ =1~
t03½-104
t06 -106¼
107½-107¼
LOO -110
l 10 -110
l l5 -115
110 -110
110 -llO
112 - 112
115 -115
117 -117
27¼- 30
27~- 30
160 Tl60
135 ~135
160 ., 60
13.5 -l35
-115
-11'7
- 29
- 29
-160
- 35
- 60
- 85
115 - 115
117 -117
29 - 29
29 - 29
160 -160 -,
135 -l,35
160 -160
135, -135
115
117
2~
28
160
l35
100
185
- 115
-lli
- 30
- 30
-160
-}35
- 60
-135
115
117
30
30
160
135
160
18:$
mi =½8~ 111
rn+ -113
Jgg 113
1~ =188 mg =½8+ }gg =mg 18:{ :mg 1mi :mg
-113 112 -115 111 -112 111 -111 111 -112
115
117
28
28
l60
13/'.i
t60
13:J
1
115
117
29
29
160
135
1110
185
-115
-117
- 29
- 29
-160
-135
-160
-135
-115
- 117
- 29
- 29
-160
-135
-160
-l35
115
117
29
29
160
135
160
l35
-115
-117
- 32~
- 32¼
- 160
-185
-HlO
-l8o
STATE..,,- SEOURITIES.
1884-Concluded.
a
-
JANUARY FEDR'RY.
M.ARCH.
JULY.
JUNE.
APRIL
AUGUST. SEPT'BER. OCTOBER. NOV'BER. D:e:o~::aa
SECURITIES.
1886.
---------------------------------------------------------,---~ -'
JANUARY FEBR'RY.
SECURITIES.
MARCH.
MAY ,
APRIL.
JULY.
JUNE.
AUGUST. SEPT'BER. OCTOBER. NOV'BEil.. DEC'BER.
Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.Jligh Low.High L ow.High I,,1w.Iligh
-----------! ·- ·---
Alab a ma,-CJ. A, S to 5, 1906. 81½- 86¼ 86½- 87
g!:~ t;t~rbk::·:::::::· gg
~~~1t~o,4f9i8~~::::·::::.::
181
9
87 - 88
86 - 83
18~ : 1~
1~ =1~
1g~ :181
18~ : 1g~
1t =18l
18~ =1~
18! :18g
18i½: 18~
l&~ ~½~i
=1~¾ l~½:lgg¾ 18g =1~
1t : 1gg
1~ :18i
:18+
1~ :1&
18g :18~~ 18~ :18J½ 18i~: 18~
l~g :18~
18~ =1~
1~¼=
12,¼- 16
12½- 17
12½: 19
7
8
l0J -102
103 - 10::!½
103 -103½
111 -114¼
80 • 81
1i
15
15
15
8
102
103
l0J
112
15
15
15
6
102
1M
103
112 -115
102½-102¾
104 - 105
107 -107,½
108 -100½
113 -113½
118 -118½
1!2 -112
102,½-103
105 -105¼
107 -107½
109 -109½
113,½-113½
118 -118¼
110 •110
115 •115
117 -117
ao - 30
80 - 80
165 -165
185 -135
165 -165
1
1
112
=1gf
1~ =1~
1i
87 - 90>'§ 90 - 91
l~~
89½- 92½ 93 - 98¼ \l3 - 93½ 93¼- 95½ 9572-100
1Wf =1~~
lg =- 1~12 1013 :- 12½
lg 13lg :- 1i¾
15
l~
A;!~l~~:-tWds: ?s~~/ .~~
7s, Memphis & Little Rock
7s,L. R. P. B. & N. 0 ...••.
7s, Miss. o. & R.R ........ .
7s, Ark. Central RR .... . ...
Georgia --6s. 1886 ............
7s,newbonds,1886 ........
7s, end orsed, 1886 ..........
7s, gold bonds, 1890 ......
Loulslana-7s, consol., 1914.
lg : 2~
10 - 19
10 - 20
1•1 - 21½
2 - 4½
till -101½
101 -103
101 •103
1'!9,½-112
73 - 75
1~¼- lg
1! : lg½
12½- 16
15 - 15¼
12,¼- 17
14 - 15¼
12¼- 18
14 - 15¼
3 - 4J.1i 4 - 4
100 - 101 100½-100¼
102½-103,½103½-104
102,½-103¾ 103,½-103½
110~-112 112 -112
7, - 76
75 - 75
1~ =
1~ : lg
12 - 12
10 - 10
10
12 - 12
10 - 10
10
12 - 12
10 - 12
10
3 - S
2 - 2
2
t00,½-101 101 - 101 102
104)4-104ll1,104½-104¾J.05
l'l4¼-104,¼ 104½-104¾ 105
110 -110½ 110 -114 112
74 - 74
74 - 75
74
- 12
10
: 12
12
.,
3
- 103 102
-105,½102
-105~ 10?.
-113,¼ 111
- 75
7:5
- 13
: 15u
8 ""
- 103
-102
-102
-111
- 79
1~½=
12½- 16
13 - 15
12,¼- 15
13 : 15
12
1~
4
7
57V ,,
102 -103 10~ -103
102,¼-102½103 -103
102,¼-102½ 103 -103
111 -112½ 112½-113
77 - 80
78 • 80
6s, lt:!87 . .. ........... . ... ....
6s, 1888. . . .................
6s, 1889-1890 ........ .... ....
Asylum or Univ., 1892 .... .
Funding bonds, 1894-95 ...
103 -104
10-:l -104,¼
105¼ -l07
107 -ll0
112 -113
103~-104)4104¼-105½
1')4½-105 105½-106
107 -107½ 108 - 109
ll0 -110 110 -112¼
113 -113 113 -115
105,¼-106
106 -107
109 -110
112½-116
115 -120
104,½-106
106 -106½
110 -112
113 -115
118 -120
106
107
111
115
120
-107½
-109
-113
-117
•·12"2
104
105
108
113
117
-104
- 105
- 110
-ll3
-118
104
1%
108
112
118
-104 1104
-106 106
-109½ 109
-113 112
- 118 118
rni~=l~
11a -113
115 -115
ll7 -117
30 - 30
30 - SO
160 -16()
13.'5 -135
160 -160
1
1
115
117
30
30
lb0
135
160
1
115
117
30
30
160
135
160
1
- 113
-115
-117
- 30
- 80
-160
-135
-160
1
ll0
113
115
30
80
160
135
160
-113
-115
••117
- so
- so
-160
-135
-160
1
114
117
30
:l0
165
135
165
1
- 11.t
-115
-117
- 30
- 30
-165
-135
-165
1
;,t
28½
:
-
1~
15
15
15
8
-102
•103
··103
-113
83 ·· 86
• 102
· 104
-106¾
- 1011
•113
•118
~:~~:g::: ~t: 1g:: ½~~::: m=m ng =m m=I~& m~=i~ rn~ :mg 1&1 =m~ rn~ =rn~ 1~ =m~ rn~ =rn~ rn~~jg: rn1 =½&!
18~
m:m
mg :mg~ rng~:rng~
18~ J8! }8~~=18t
~3~~~½8~~ }8J~=i8: mt =1~
u~
uo
6s, foan, 1891 .. . .. .. ........
6s, loan, 1892 . ..........
6s, loan, 1893 ......... . .....
No. Cttrollna-6s, old, '86-'9e
6s, old, A .& 0 . . . . . • . . .
N. Car. 1:tR., 1883-4-5 .......
N. Car. RR., 7s, coupon off
N. Car. RR., A. & 0
. ..
7
=t~~
112,½-113
115 -117
ll7 -120
30
30
30 - so
160 -165
135 -135
160 -165
1
1
113
U5
117
30
30
160
135
mo
=m
-113
-115
-117
- eo
- 80
-165
-1S5
·165
1
113 - 113
115 -115
117 -117
so - so
30
160
135
160
1
- 30
-1110
-lf!5
-160
1
113 - ll3
- 115
-117
- 31
- 81
··160
-135
-160
1
lg :- 1i15
112 -11~
i-5 - R7
110 - 110
115 - 115
117 -117
so - 80
80 - so
165 -165
135 -135
ltl5 -165
1
1
112 -112
10j¾•·l0S d;
105 -106
107 -108
109 -109
113 -118½
ll8 -118¼
mt :tgg
mg
:l&g
-113½ 113¼-118½
115 -117
117 -120
so - so
30 - 80
165 -165
135 -135
165 -165
1
1
119 -122
12l¾-124
so - 30
so - so
165 -165
13.'5 -135
165 -166
1
1
Wu~~:'
ii!"\ii. fsatY8&? ~.~ r& = rs 1r810 =- 10fo n
: r& 10fo =- r&10 re10 -~1lr~ 10r& =- r~11 r&10 =- n10 n10 ~
r& 10fo ·-~fo10 r810 ·- fo10 10fo :- fo10 10r8
Funding act, 1868-1898 . . . 10 - 10
10 - 10
- IO
Newbon ds ,J.&J.,181:12-98 18 - 18
18 New bonds, A. & O.. .. . . . . . 18 - 18
18 Chatham RR. . .. . . . . . . . . 2
2¼ 2½Special tax, class 1. 1898-9 2 - 3
3 Special tax, class 2 . . .. .... 2¼- 2¼ 4½'l'o W'n N. C. RR. . ......... 2½- 2¼ 4¼To Western RR....... . .... 2½- 2¼ 4½To Wll. C. & R. RR ... .... 2¾- 2¾ 4¾-
18
18 -19
18 18
18 - 18
18 8
2½- 2¼ 2½5¾ 87.-11- 4¾ S½-
v~~~~~~!~~l~-~~~~ 8:.~~~~
6s. new bonds, 1866 . .. . . .
6s, new bonds, 1867... ... . .
6s, consul. bonds...........
6s, ex-matured coupons. .
6s,consol.,2d series ... . . . .
6s, defe rred bonds. . .......
18
18
18 - 18
18 - 18
18 - 20
20 - 21
20 - 20
l.>O - 20
18 • 18
11'1 • 18
18 • 20
20 - 21
20 - 20
20 - 20
2¼ 2¾- 2½ 2¼-· 2½ 2½- 2½ 2¾- 2½ 2½- 2½ 3 - 8
4
4¾- 5
4 - 4½ 4
4
4¾- 5
4¼- 4¾ 6
7~
4½ ... . - ....... . - . . .. . . .
4¾ .. .. - . .. .
2½- 4
S
106 -107 !07
43 - 46½ 47
43 - 46
47
43 - 40
47
- 3¾
-107
- 48½
- 48
- 48
=Hisij fos½=1C>9¾ iio
: ~¾
8 - 3½
107 -107½
46½- 47¼
46½- 47!4
46½- 47¼
t~ =ig¼ ~¼= ~5¼ ~t¼= ;g g~
87
- 38
37 •
50 87 50 4½-
D~~~sn~r~~t8ia.:..:s:a5ii.io24 iis
38
50
38
50
5½
38 - 40
38 55 SO 50 4½-
40
70
41½
50
6½
38 38 72 42 •
50 5½-
39
= ~~
-
39
39
75
45
50
4¾
112 -123
S - S
107 -108
42¼- 47
42 - 47
42 - 47
i&
39
= ~~
- 39
89 • S9
80 - 80
47 - 50
50 - 50
4¾- 5½
:1is"
115 -125
3 - 3¼
108 -108½
42¾- 47¼
42¾- 47¾
42¾- 47¾
~~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
=
40 40 80 50½-
ii3
:
103 -103
.. ...... - ....... . - ..... . . .
8
106
47
47
47
3¼- 3¾
107 - 108
47½- 48¼
47½- 48¼
47¼- 4-1¼
- S¾
-107
- 47¾
- 47~
- 47¾
40 80 45 50 5½-
40
80
47
50
6
~¾= ii¾
4fl
40
83
47
50
6
=114¼
•
-
~
10
20
20
7
8'
. .. .
.. ...... - . ..... . . - .. ..
i.i'i : n,i"
i1".i½:11·ci · ·
ii".i¾=ti5~
4½- 5¼
109 - 109
50 · 52½
50¼- 52½
50¼- 52½
109 -109
51¼- 52½
51½- 62~
51½- 52¼
:-103~½ 103t½:-104re½ 104½-105'
~½~ ~~¾ ~
104
:03
120 -120
:1i5¼ ii5
110 •110
:1is~ iis
120 -120
~8¾ ~a¼=~¾
40 - 40
40
40
80
51½
50 - 50
5 - 5½
1 886.
SECURITIES.
=110¼ iio¾:112 .. ii'z
~~ ~~ ii¾ ~
-~¾= ~¾ ~¼=
106 -106 103 -JOB
=1i3" iis =1is' . ii.s
110 -110 110 ·-110 110 -110
-li3¼ ii2½=Ii:f . hs
Funding 5s, 1899 . .. .. . .. 109 -110¼ 110 - 110
39
39
80
72
45
40
50
50
6½ 4
M'l
.. . . . .•
~~
20 - 20
rn ~O - 20
l<O 4½- 6¼ 4 6,¼- 7½ 6½-
.. . ..... - . ... . . . • - ........ - . ....... - ... .
. ....... - ........ - ........ - ........ - ... .
- . . ...... - ... , .... - ........ - ........ - ........ - .. . . ....
105¼-105½ 105½-105¾ l0r>½-105¾ 106 -106
no -113 112 -112 112 -114 no -112
2 - 2¾
104¾-lll7
42 - 43
4l¾- 43
41¾- 43
- .. ...... - ... . .... - ....... . •·
4¼! .... - ........ .... . . - ... . .. .
. ....... - . ... . . ..
4½ .... - ... .
- . . ...... - ........ - . . ...•.. - .... . ...
;}~~ TI;~i.~ ?:~~:.~~: ::::: ::: 10g~:10~¾ 10!¼:11t½ iio~1iC ios
-~~1!iW1i>o4;d;~~~ .:::::.:::: ~5 : ~7¼ ~? : t ~¾: ~¾ ~
Ohio-6s, 1886 ··· · · ······" . ..
Rhode Island-&3, cp., '93-99
South <'arolintt-6s, act Mar.
23, 1869,non-funo., 1888. . .
Brown consol., 6s, 1893 ... .
'l'ennessee-6~. old, 1890-2-8
6s, new bds .• 1892.'r8-190!J.
Os, new series. 1914.. .. .. .
1
- 15
- 15
8
- 102
-108½
- IO~¾
!½:-mii .~ ~it __ }~ ~ ~-8~ }~ : ~~
~;~~:ih~tiii~::::.-: :::::·· ·10 : ,i" · ·10· : ,z"· ·n =•12 .. ·1<i =,;r· ·70 : ,f· ·10 =if ·i1~i it~ ·i1 : if
M~t::~~is~ W¥cf.~~ ::::::: 1n .:1~r,~ 11a =11~ 1~t½:11~ 11g =1~t½ 1~ =i?~ 1t -112 112 -112 112 - 112 112
Mlsso uri-6s, due 1886... . . l0l -102 101,½-102 102 -103½ 103½ IOi 103 -104 104 - 104¾ 101,½-102 101,½-102½ 102
Ni~: ~~~k;!sp~~~W8?.·:.~~~ }gg
100 · 101
40
40
80
49
50
10
120 -120
8¼- S¾
108 -109.~
47¼- 48¾
47¼'- 41-i¾
-!7½- 48'¼
120 ~-120
4½-
6½
108½-109¼
50 - 52
50 - 52
50 - 52
: ~½ ~~½~ ~
-105 103 - 105
120 -12.0 120 •·120
~&½.~
~g¾ 40~g •-= 40~g½ 40~g :- 45~A
40 - 40
40
80
48
50
•
-
40
40 - 40
80
80 - 80
49½ 47 - 48
50
50 - 52½
\I - 10¼ 12 - 13¼
~ =i!~
42
42
80
50
55
11 - Hn~ 10
40 • 45
80 - 85
52 - 55
5! - 55
1l~ :1rn 110
11A
·=11eij ii¥ =1if " ii4 :1i4"
109 -110 ll0 -110 110 -110 110 -110
4 - 5
:1rn
-110
·
·
-
4:l
48
80
5~
llO
rn
1m :1rn¼
110 -110
56
STATE SEVURlTIES.
1886-Coneluded.
JANUAl'tY FEBR'RY.I MARCH. I APRIL. I
----
JUNE.
AUGUST. jSEPT'BER.I OCTOBER.INOV'BER.
1 - - - - - - - - - -MAY.
- - I----1
-JULY.
- - - I- - - - - - - ·- - - - _ _ _
SECURITIES.
I
DEC' BEB
·
ILow. High Low.High Low.Hieb Low. 1gb Low.High Low.High Low.High Low.High Low.High ~ow.H~ L ow.High ~w.High
Mtohiga~-'78, 1890 ..• . .•••••. 112 -112 112 -lli \112 -112 112 -112 112 -112 •••. - •••. 109 -110 110 -110 110 -110 110 -110 108 -110 108
Miasouri-6s, due 1886.... .
6s, h:!87 . ................... .
fls, 1888. . . .... . ........... .
6s, 1889-1800 ....... . ... · ... .
Asylum or Univ., 1892 .....
Ii1!.~~W,'fi1~sf.sj~~.8t-JL
H1mn1bal & St. Jo., 1887 ·;
New York-6s, gold, reg., '8,
6s, gold couoon, 1887......
6s, loan, 1891 ........... . .. .
6s, Joan, 1892. ... . ... . ..
&s, 1011.n, 1898 ............ .
No. Carollna-6s, old, '86-'98
6s, old, A .& 0 , . . -. . . . . . .
~. Car. ltR., 1883-4-5 .......
N. Car. RR., 7, coupons off
N. Car. RR., A. & 0
. ..
N . Ca.r. RR., 7, coupons off
Fundmg act. 1866-1900... .
Funding aotj1868-1898 . .
New bonds, . & J., 1892-98
New bond!!: A. & 0....... ..
Chatham n.R. . . . . . . . .
Speo!al t11.x, class 1, 1898-9
1
~~~~~
Rm nll bonds.... •.. . .... ...
68, 1919 .. ..... .... .........
Ohio-tl6, 1886 .. ........ . ....
r:~tie,!:~~1\~~s~~c;~~~
100
102
105
107
110
-100
-103
-105
-l08
-112
100
103
1(15
107
112
-100¾
-103¼
- 105
-108
-112
100
103
105
107
112
-101
-104
-105½
-110
-113
101¼ l 1¼
103¾-104
105½-1
110 -110
112 -1 rn
101¼-101¼
104 -104¼
105 - 106¼
108 - 110
113 -113
102
103
103
113
118
121
80
30
165
185
165
135
10
10
~o
20
7
8
-103
-103
-113
-118
-121
- 31
- 31
-165
-135
-165
-135
- 10
- 10
- 20
- 20
- 7
- 8¼
103
103
113
118
ll!l
30
80
165
135
105
135
IQ
10
20
20
8
8
-103
-103
-113
-118
-121
- eo
- 30
- 165
-185
- 165
-135
- 10
- 10
- 20
- 20
- 8
- 10
103
103
103
llS
118
121
32
32
165
135
165
135
11
11
22
22
9
9
-103¼ 104 -104
-103 103 -104
-lOa 103 -104
-113 113 -113~
-118 112 -115~
-121 115 -118¼
- 86½ 35 - 35½
- 3 ¾ 35 - 35½
-175 170 -170
-145 140 -140
-175 170 -170
-145 140 -140
- 13¾ 12 - 12
- 18½ 1·J - 12
- 23
22 - 22
- 2!3
22 - 22
- 9
9 - 10
- ~¾ II¾- 12
104 -104
104 -104
104 -104
113½-113½
115¾-111>¾
118½-118¼
35 - 35
35 - 35
170 -170
140 -140
170 -170
140 -140
12 - 12
12 - 12
22 - 22
22 - 22
6 - 8
10 - 10¼
94¾- {15
9& - 92
111\½-ll d½
103 - 103
120 - 120
94¼P3 - 94
118~-118¾
103 -103
120 -120
fJ~ -10:,1
:M~ lli
:tl~
103 -103
½a~ :ll~½ i&l :P-J n~ :f~
}:~•:fJt&s~::::·:::. ·ss¼: s9¼ ·9ci - of· ·93¾- 95
87 - 87¼ 88 - 89
00 Y3
116½-118¾ 11\+¾-121
103 -103 103 -103
120 -120 120 -120
115 -lld
10 J -103
120 -120
23, 1869, non-funu., 1888.. . I>¾· 6¼
Brown consol., fls, 1893 .... 106 -108
Tennessee-6s, old, 1800-2-8 63 - 55¾
6s, ntnf bds., 1800-~8-HIOO. 58 - 55%
Os, new series. 1914 . . . . . . . 53 - 55¾
Compromise 8-4-5-615, 1912 62 - ll4%
New Settlement, flA, 1918 ..... New Settlement, 5s, ml~. . . . .
New e ettlement, Ss, 1913 .... . .
Vlrginia-6s, old ..... . ....••. 42 - 43°
611, new bonds, 1866 . . . . . . 42 - 48
6s, new bonds, 1867. .... .. . 42 - 43
6s, Consol. bonds ..•. ... . ... 80 - 80
6s, ex-matured cou pons .. 50 - 52
6s, consol., 2d series....... 60 - 60
6s, deferre_d bonds .. . ...... 11 - 12½
5¼- 01,,{
108 -108!,.(
1>5½- 60
55¾- 60
05¼- 60
65¼- 67~
0
•• _ . .. .
43
44
43 - 44
43 - 44
80 - 96
5:& - 60
5¾- 7¾
108 -lC9¼
56½- 59
56¼- 59
56¼- 59
65 - 611
....
43
48
43
100
56
60 - 62
60
11¾- 13>( 9
D~~\~~f~~~i·H·..:..:3:555",i924 1}A :1½~~ 1U¼=1rn
Funliiiijc 68, 1891} ...•.• ... 110 -110 110 -110
JANUARY FEBR'RY.
11t
110
.... - ....
....
. •..
.. .• - ....
. •.. - ....
- ....
100¼-100½ 1007.(- 100½
102 -104 102 -102
104 -104¼ l'l3¼-104¼
10"7 -108 107 -107¼
11?. - 113 112 -112
:- ::::
fl&
.... 101
....
....
....
....
....
. •. .
-
....
....
....
....
•...
•. . .
•. . .
•...
....
• ...
....
....
10 - 10
103
103
112
11;,
118
33
33
170
135
170
135
11
11
21
:.!l
8
10
100½- 100½
102 -102
103¼-104
107 -107
112 -112
:m m:m n~ :m
-101
-103
-103
-112
- 115
-118
- :l5
- 85
-170
-140
-170
-140
- Jl
- 11
- 22¼
- 22½
- 10
- 10%
o:f· ·95¼:
oo~ ·0s : or·
•. .. - . . • . 95 - 97
118~-120 121¼-125
.... - .... 101 -102
.... - . . . . 118 -124
101 -101
103 -103
103 -103
112 -115
115 -120
L20 - 122
35 - So
x5 - 35
170 -170
135 -135
170 -170
13:'.I -185
11 - 11
11 - 11
22 - 22
22 - 22
7½- 8
10 - rn
101 -101
103 -103
108 -103
110 -112
112 -115
115 -120
35 - 85
85 - 85
170 -175
135 -135
170 -175
135 -135
11 - 11
11 - 11
22 - 22
22 - 22
5 - 8
10 - 10¼
ig :1A8
98 - 98
126 -128
~0l½-101½
120 -120
99 - ~
97 - 9'i' 126 -129
101½-101½
120 -120
101
102
104,.
108
112
101
102
1C2
112
115
118
85
35
170
135
170
135
12
12
lc.'2
22
5
10
103 -104
102 -102¼ 102¾-102½
101 -102}1; 102½-102½
112 -112 112 --112
115 -115 115 -115
118 -118 118 -118
35 - 35
35 - 35
35 - 85
35· - 86
170 - li0 170 -170
140 -140 140 -140
170 -170 170 -170
140 -140 140 -HO
12 - bl
12 - 12
12 - 12
12 - 12
:..,2 - 22
22 - 22
!.2 - 22
22 - 22
8 - 11
10 - 10
10¼- 14¾ 10¼- 14½
-103
-103
-112
-115
-120
- 85
- 35
-170
-140
-170
-140
- 1:.!
- 12
- 22
- 22
- 13
- 10¾
·« -
MAY.
J UNE.
JULY.
103
104
108
112
-109 ..
-104
-108
-113
~~~ -m
l~~= ~~ ·w½:
~gij ·90½:1~
97 -- 97
97 - 98
97 - 98
121 -125
101½-102
120 -120
6 - 6¼ 5 - 5~ 5¼- 5½ 6½- 6% 5!,r 6¼
IOU - 109½ 100½-109¼ •... - .... 107¼-107¼ 106 -108
1'>7 - 58
56 - 58
58 - tlO¼ 60~- tS4
62½- 65
57 - 58
l'>6 - 58
58 - 60~ 60½- 64
62½- 65
57 - 58
5d - 58
58 - 60~ 60,i- 64
62½- 65
AP RIL.
-102
-104
-105
- 108½
- 112 -
fl~ :fl~
½A~ :½A~
- 102 102 -103
121 -121),6 122 -122
102 -102 102 -102
120 -120 120 -120
5½- 0!>( 5¾- 6¼
104 -108 109 -109
62½- 64
62 - OS
6W- 64
62~- 63
1\2½- 64
tt2¼- 63
66¼- 137¾ 65 - 67¾ 67½- 70¼ 70>(- 74
72 - 75
72 - 74
72 - 73
- .... 106 -106¼ 103¾-IQO¼ 103 -106 105¼-10&~ l (J5 - 106
- ........ - .... 100 -101¼ 100 -102 100 -102 100 -102
- .... 71¾- 74~ 73 - 7'I
78~- 80
78 - 78¼ 76 - 77
- .if. ·;,_'.i - !4 ..
44
45 - 47
47 - 47
46 - 47
47 - 47
- 45
44 - 44
44 - 44.
45 - 47
47 - 47
46 - 47
47 - 47
- 45
44 - 44
44. - 4-!
45 - 47
47 - 47
46 - 4i
47 - 49
-100 100 -100
95 -100
90 -100
9:l -100
90 - IJ0
IJ0 - IJO
- 60
54 - 55
52 - 5H ... . - . ... 52¾- 54
62 - 54½ 51 - 53
50 - 53
- 65
65 - 65
65 - 65 . . . • - • . • . 60 - 69
65 - fl5
65 - 115
65 - 65
- ll¾ IJ~- ll¾ 9 - !l½ 9 - 9
10 - 12¾ 11 - 12)11 10¼- 11¼ 11¼- 1:i¾
:1rn 11~=118½ 11~:118~ ii9¼:liO¼ 1f~:1rn~ 1li½:1rn~ 1~~½=1W11 1.M¼:11~
-112 110 - 110 110 -110
- .... 112¼-112¼ 112½-112¼ .... .- .. .. .. .. - .. ..
MARCH.
-110
100¾-100¼
102· -108
104 - 104
107 -100
112 -112
5¾- 7¼
110 -110¼
62½- 64
62½- 64
6~- 64
7:t¼- 74
105 -105
102 -102
'ill%- 78¼
47 - 47
47 - 47
47 - 47
90 - !)5
55 - 58
65 - 66
12¾- 1~~
'i¼
O -
109 -110
~ - 65½
fl4½- 65½
64¼- f'5~
74 - 75¼
105 -100
100 - 102
7~- ~
47 - 47
47 - 47
47 - 47
PO - Sl5
63
- 56
65 - 6:5
12 - rn~
1i~ :1ig~ 11~:1~~
. •.• - .. . . 110 -110
AUGU81'. SEPT'BER. OCTOBER. NOV'BER. DEC'BER.
SECURITIES,
- - - ··--- - - _ _ _ _ _ _ _ _ _ _ _ 1L
._o_w_._H_i_l?_h Low.High Low.High Low.High Low.High L_ow
__
.H
__
ig_b_ _L_o_w_._H_i_g_h_ L_o_w._.H
__
ig_h L ow.Jlll?h Low.High Low.High f,'>w.Hlgh
1
1
..1.gi~s~~~ti1· 8.~~.:::.~~:
Cl&!ls 11 '6s 1906 ......... .
Class C '4s '1906 ...........
'6s 10-20, 1000 . ............
,A rkansas-61!!_ fd., 1899-1900
Its, L. R. & 1rt. s. issue.. . ..
½8~
:½~ ½8~¼:½8~ f~½:½8~ f~¼:18~~ ½8~ :½gg½ ½8~¼:1~¼ 188 :½8~ }8g½:½8~½ 18~ :18! }&t¾:½~½ rni½:18& mg :f~~
107 -100 1.00 -113 113 -114 1 12½-113¼ 110 -112½ 112 -112½ 109 -HO 104 -104 103 -104 104½-l00 106 -108 107 -110
r; 9 ' .Mi Rs. o. & R. R. .. .. . ..
lie' Mk. Central RR....... .
Geo'rgia-7s, izold bonds '90.
LoulsiR."1111-7s, consol., !914.
~tamped. 4s .. . ... .. . . . .. . . .
Mi~h~~~~t~~f~"90:::::::: : • .
Misso~ri-6s, 1887... . ..• . .
6~. 1888..
. ............... .
6s, 1889--1800 .. .. ........ ... .
Asylum or Univ .• 1892 .....
Funding lJondsj1894-95 •..
2t - 25
22 - 25
7 - 8½ 7 - 7½ 7½- 7½
109 -109 108½-108½ l(IR½-108½
93 - 94
93 - Ila
{)5 -100
711"- 80¼ 81%- 84~ 837,(- 92%
~~· terpc.ii~ ti~,~~~:.~
N::n1~~:~s~~-◊13:i-~~:is1
103
103
10
24
-10:1
-104
- 10¼
- 27
~825 :- :126
ios
100
,08½-l0txj
105 -105
10 - 10½
:.!5 - 28
~~
104%-105
104 -105
10 - 10¼
25 - 25
: ~ ~~½: ~~½
:10s.. 1~ :18~ 18~ : 18i
-100½ 100!,fr-100~ 101 -101
lN½-102 102¾-103½
1116½-107¼ 101 -107½
ll2 -112 112 -112
115 .-115 115 -116
100 - 101
100 - to7
112 -112
115 -tu>
104J,4-104¾
10! -105
10 - 11
25 - SH~
108½-108½
104 -105
10¼- 11
"5 - 33
103 -104
J.03 -105
10½- 11
29 - 21:1
LOO
102
1,,
27
:
~i½
25 - 33
10 - 11
108 -108
100 -100
87¾- 88¼
30 - SO
10½- 10¼
.... - . . ..
100 -100
88 - 88¾
25 - 28
10 - 12
106 - 107
100 - 100
84½- t:<5¼
25 - 25
20 - 2i
11 - 11
11 - 11
. - ........ - . -. .
100 -100 100 -100
St¾- 85
84¼- 86
1g~
100
100
101
109
112
:1~
-100
-100½
-104
-110
-112
100
l'l0
104
110
112
:18~¾
- 100¼
- 100¼
-104
-110
-112
: 1oi"
-101
-112
- 115
-118
- 35
- 35
- 170
-140
ioo
100
112
115
Ll8
35
il5
170
140
-100½
-112
-115
-118
- 35
- 35
-170
-140
:100½
~~
25
9
107
100
SP
~t ~g :
- 34
- 12
-108¼
-100
- 91
~z =~5
18~ :18~ 1~ :18~¾ 18~=1~
102 102 102 - 10.l¾ 102½-10:Z½
103¼'.-108½ 108J.4-10fl½ 103~-108½
t00¾-107>11106 -106½ 106½- l0B¼
112 -112 112 -ln 112 -112
115 -115 115 -115 115 -115
½88~=½8½½ {g~½:m½lic>i½=lOi½ ioi!i.162½ 1i:ii¼:1or · 1oox;:1or·
6s gold couoon, 1887 ...... 100½-101½ 101 -l0L½ 101½-lOL¼ 101½-102½ 101½-102 108 -103
112 -112 112 -112 11~ -112 112 -112 112 -112
6s' 1011.n, 1892 . . . ...•••• 115 -115 U5 -115 115 -115 115 -115 115 -115 116 -115
6,i°loan,1893 ..... : .... . . . .. ll8 -118 118 -11➔ 118 -118 l18 -118 118 -118 118 -ll8
No. 'carolina.-6s, uld. '86-'98 S'> - 35
35 - 9'1
35 - 35
35 - 35
35 - 35
35 - 85
6s. old A .& O
. . . . . • . . . 35 - 35
35 - 35
85 - 8;'1
85 - 35
35 - 35
35 - 35
N.Citr.'ltR., 1883-4-5 .•..... 170 -li0 l70 -170 170 -170 170 -170 170 -170 170 -170
N.Car. RR., 7, co~ons off 140 -140 140 -140 140 -140 140 -140 140 - 140 140 -140
~upons·
Funding act. J866-I900. .• . 12 - 12
12 - 12
12 - 12
12 - 12
12 - 12¾ 12 - 12½
&.i' loan, 1801 ............•.. 112 -112
~:i~/ill~. t
~~
ioo
100
110
112
115
S5
35
170
140
-l0l
-104
- 10½
- 35
: ~g
100
10.!
10
20
~~
1~~
-103½
-1013
- IO
- 26
98
100
10
20
- 98
-102
- 10
- 25
: ~~ ~g : ~g
100
102
10
20
~
-100
-106
- 11
- 22
100
102
10
18
-103
-10'.i
- 10
- :tO
100 -102
104 -105
• iis - 20 · •
: ~g .is : 26" .. i.7
18 - 20
: i~·.
20 - 22
9 - 11
105 - 105
100 -102
87¼:- 90½
18 - 18
.... 104 -IOi · 104 -105° ·
100 -100 100 -100
89¼- 92
90½- 91¼
18~ :1gg
100¼-101
100½-101
to~ -10!
l Oll - 110
112 :112
18~ :1g~
100¾-101
101 -101"
.... - ....
109 -109
110 : 112
101
101
104
108
110
i.O0½-100¼
lO0¾-l0t1¼
112 -112
115 -115
118 -118
S5 - 35
35 - 85
170 -170
140 -140
io'i½-I0i½
101.½;-101½
112 -112
112 -114
115 -115
35 - 35
35 - 35
.... - ....
•.. . - ....
101
112
115
118
S5
35
170
140
1~i
ic>i
:1~ 18i :1t
-101¼ 101¼ 102
-101¼ 101¼-102½
-105 104 -104¼
-109 109 -110
-111 110 :no
:10s"
-103
-113
-115
-118
- 35
- 35
-170
-145
i.oo -His"
-103
100
112
115
117
85
35
170
140
-112
-115
-118
- S5
- 35
-liO
-140
oir gg :½18 U8 :118 U8 :U8 U8 :US US :n& U8 :US ½18 :U8 U8 :US U8 :U& ::: : - : : : : U8 :m US :fi8
10 - 10
12 - 12
10 - 12
10 - 10
10 - 10
10 - 10
¾~~db~M~Y1~~~~~~2:os t~ : ~~ ~~ : ~~ ~ : ~~ ~: : ¼~½ ~~ : 1~½ ~ : ti¼ .~~ : i: ~ : ~~ 1g : ½i ig : fg rn : ½g ½g : ½S
~~:i~~~diit:~.?::···:::· ~~ : i~
~~ : fo ~~ : ~~ ~ : i~ 2~ : ~~ ig : i~ 2g : i~ 2i : 2g 1~ : 1~ 1~ : 1g½ 1g : i& ~ - 2~
Special tax, class 1, 1898-9 11¼- 13
12 - 13¾ 12¼- 13
13 - 15¼ 12½- J4
14 - 16½
t\pecial tax,class2 ... . . . .. .
- ....... .
Rrulro>1.d issue-..... . . . . . • . . . . .
. . . . ..
1
1
1
~~~1W\io~c1s1.~~~ .:::::.::::
gg½
6s, 1919.. .. .. . . . . . . ..... . 12-l -124 74 l25
Rhode 1sland-6s. cp., '113-94 120 -1~ 115
8
~~~~~~~~~!t~sd~~kit·: 6~- 6½ 6
Brown con11ol., 6s, 1893 .... 107 -11}7 107
Tennessee-6s, old, 1890-2-8 65 - 115½ tl5
Os, nuw bds., 1892-'f.'8-lOOu. 65 - 65½ 65
6s, new series. 1914 . . . . . . . 05 - 65½ 65
Compromise 8-4-5-6s, 1912 75 - 75¼ 75
New Settlement, 6H, 1918. 105 -105 105
1~ :19,~
Virginia-63, old .. . . . . . . . . . . . 47 - 4-l
48
6s. new bonds, 1866 ....... 4'1 - 4-1
48
6s, new bonds, 1867. .. ..•. 47 - 48
48
611, consol. bonds .. ...... ... l-15 - 115
90
6s,ex-m11tured coupons .. 52 - 53
&, conaol., 2d series...... . 65 - 6~ · R5
6s, deferred bo nds........ . U - lo
12
Trust receipt11. 6s . . . . . . . . . . l~- 1~
1:J
Dis. o! CoJ11mM11-S·65s,1924 121 -121 1«0
Fuzidlllit 58, 1803 ......... . 107 -107 107
3g :
::: ~:w:~:~k it mi
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
- ........ - ....
- .... . - ....
1
~
: ~!5 ..
-125½ 11!5½-125:1:(
-ll6 116 -117
&~ :
l~A
- 6~4
- t09¼
- 65
- 65
- 65
- 76~
-101\¼
:~~
6½- 7
1011¼-109¼
6-'½- 65
6t½- 65
64¼- 66
74 - 76
106 -106½
1::J - 14:)f. 12½- 14
13 - 13¼ 12½- 14
8~ : g~ ~~ : 8~
14 - 1{>
14 - 1'1½ 14 - 15
Ul¼- ltlJ.i! 14 - 15
·95 : riii ..
123 -U~S¼ 128¼-123¼ 120 -123
116 -116 116 -116 116 -116
12 - 15
11 - 12¼ 10 - 12
10 - 10½ 8 - 12
12 - H½ 11 - 11
- .... 10 - 10 . .... - •· ··
l:! - 14½ 11 - 11
10 - 10½ 10 - 10¼ 8 - 12
gg : gi ~~: ti ····
: :::: . ~~ : ~ .. ii : ~J 8i : ~¼
Eii -123 120¼-120½ 118 -llii 117 -120
121 -121½ 122 -128
115 -lltl 116 -au
6 - 7
6 - 6¼ 5¼- 6
6
10,-109½ 108 -l0H¾ 104 -105½ 105
6 - 64
tl2~- 63¾ 60 - tS·t
59
62 - 64
62 - 68¾ 60 - 62
69
62 - 64
62. - 68;),,i 60 - 6 l
59
72 - 74
72~- 74
70 - 71
70
103 -104 104½-106½ to·i - 103 102
=1~~~ 1~~=1~~ l~~ =1~~ 19,J =l~~ l~i
19,g :19,
1~
- 48
48 - 48
48 - -18
48 - 48
48 - 48
48 - 4-l
48
- 48
48 - 48
48 - 48
48 - 4>3
48 - 48
48 - 4>!
48
- 48
48 - 4>!
48 - 4d
48 - 4>l
48 - 4fi
48 - 48
4>3
- 00
~ - I-JO
90 - HO 90 - ~IO
l}J - 90
YO - 90
9:>
- .... 52 - 62
52 - 52
52 - 5:3 .... - .... 4fl - 41l
45
- 65 65 - 65165 - 65 65 - i5 6(1 - 65 60 - 60 60
- 13
Jl - 12
10¼- 11
10 - 10
10 - 10
10 - 10
10
- 16
127'- 13¾ lZ - 13
11 • 12
10 - 10¾ 10 - 10½ 10
- 120 120 -121 120 -120¼ 120½-121~ 121½-12-l 121 -121¼ 120
-109 107 4\-107¾ 107 -107¼ 107 -107 107 -107 10d -106
..
ti;(- 7~
10!-f½-109½
64 - 6-'>
64 - 65
64 - 65
74 . 75
104 -106½
=•~g¾
1 8
6
-105
- 60
- 60
- 60
- 70
-102½
115 -115
5
6
104 -105
56 - 59
5tl - 59
56 - 59
.... 101 -102 ..
=1~½ 1gg
- 48
47 - 48
- 48
47 - 4>!
- 48
47 - 48
- 90
90 - 1}0
- 46½ 45 - 45
- f\O
60 - 60
- 10¼ .... - . . . .
- 10¼ 8 - 8½
- 12U l17 -117
~ •.•. 105 -105
:iii
115 -116
5
105
57
57
57
67
101
- 5½
-106
- 58
- 58
- 58
- 67
-108
1gg¼:1gSu
48 - 48
48 - 4R
48 - 48
ll0 - 00
45 - 45
6J - 60
8 - 8
8~- ~
117 -117
.... - •...
115 -115
115 -115
5¾- 5¾ 5 ~ 5¼
106 -l0i 10'1 -108
59 - 60
59 - 60
1;9 - 50
59 - 60
59 - 59
511 - f O
69 - 70
6-3 - 70
100 -100 100 -102
1~ =1~~¼ · ;.,-i = 72 ij
48 - 4-1
48 - 48
48 - 4>!
48 - 48
48 - 48
48 90 - 00
75 - 4 ~
45 - 4 8
41 - ·
OU - 60
60 - 6 0 (
8 - 81
7 - 7~
9 - 1
8¼- ¾
117 -11~ 115¼-116~
100 -105 104 -l<l:>
t
STATE SEOURITIES.
1888.
JANUARY FEBR'RY. MARCH. . APRIL.
JUNE.
JULY.
AUGUST. SEPT'BER. OCTOBER. NOV ' BER. D.EC'BER.
MAY •
. SECURITIES.
- - - - - - - - - - - - - - - - - 1 - - - -1- - - - - - - - - _ _ _ _ _ _ _ _ _ _ Low.High Low.High Low.High Low.Hig h Low.High L ow.High Low.High Low.Hig h Low.Iliith Low.High Low.High f,ow.Hfgh
1
Alabam&-Cl. A, Sto 5, 1906. 105 -106¾ 106 -106)4 105 -106:,4 105 -105 105 -105½ 105 -105¾ 103¾-103¾ 103½-104)4 103½-103¾ 103½-104. 104 -104¾ 104¾-106
g!!: tt~t~1r::·:::::::· mg
=m
mg
1gg
rng =I&~½ rn~
:irs t~ =rn~ ½~ :mg
100 -101 100 -100¾ 100 -100
102 -102½ 101½-102½ 103 -103
-~!~l~~jli:,l.ds: ls~~;:~ "ii(; : 26 .. -~o : 20"'
g : lg¾ ~7 -: 91Z 10-10
1& : 16½ z : 16
z : g 8g -: 8z 8g -: 8z
7s,M.emphis&Little.ltock20-20 . .. , : . ...
5-5
8-10
8-8
=½~& ½Y8
m½=rn~
=rn~
:½&~
Class C 4s 1906 ........ . .. . 100 -100 , 00 -100 10,J -100 101 -102½ 100 -100 100 -100
0s, I0-20s, iooo ......... . .. . 101 -103½ 102 -108½ 100 -103½ 100 -102 102 -103½ 103 -104
7s,L. R. P. B. & N. 0.. . .
18 - 20
25
25
5 - 25
7 - 17
10 - 10
8 - 10
88 - 88
105 -105
87 - 89
105 -106
87 - 88
105 -105
104 -105
106 -107
10\J -110
110 -110½
~g½:1§~
35 - 35
170 -170
140 -140
170 -170
140 -140
10 - lu
10 - 10
20 - 20
20 - 20
104
107
108
109
104.
107
108
109
1ig
35
170
140
170
140
10
10
20
20
mi
t&~
rnJ¾:ig~
:f&a¾
:m½
100 -lOO>f: 101 -101¾ 101;',t-101¾
102 -102 101 -103½ 100 -103}.e
~
: i 7-12
+ : ½t¾
8
8-8
8 - 8
7 - 12
18 : 18
10-11
10 - ll}s
86 - Sf\
105 -105
.. . •
. . 87 - 88
105 -105 105 -105
87 - 87
105 -105
90 - 110
105 -105
. . . . - ....
105 •-105
103),jf-lOi
107 -107
107 -107
108 -108
1gg
3:S - 35
170 -170
140 -140
170 -170
140 -140
10 ~ 10
10 - 10
20 - 20
~o - 2u
104 -lOi
107 -107
108 -110·•
:1ig
85 - 35
150 -170
80 -HO
150 -170
80 -1'1 0
10 - 10
10 - 10
15 - 20
15 - 20
104 -101
107 -107
iiii -lio· ·
1gg :i§g
35 - 85
liO -170
140 -140
170 -170
140 -HO
10 - 10
10 - 10
20 - 20
211 - 20
8 -
8
8 -
8
8 -
~ : 1g 10 - ~~-- ·--~ : ~~-- g : g i : g g : 1g : : I~ IA : 1~½ 1g : 11
}8a":t88~ 188~:½&g¾
mg½::}~
½8~
:}8~ l&i ::fgg ½t½:f8g tgg :}gg rn~ :f&g½ 18~
:½8~ ½8J :½8~½ 181 :}8~¼ }t
:½&r'
lH¼- 9~
89¾- 91½ PO - 91¾ 90¾- 91),( 90 - 90¼ 88 - ~8½ 88x(- 89
89½- 90½ 90¾-- 91½ 89 - 91
9ll - 90~
J::r~:~-C~ntr~·R1ii·::: . :: . . :~ : ~-- -~~: ~~-- --~ : ~~-i~~rt1\~~~1:~~~~~~~~sioTI·
Stamped, 4s ............... . 89 - 93
7shsma.ll bonds..... .. . . .
87 - 88
Mic llran-7s, 1890 ........... 100 -106
MJ:~1Mst~~~~-:::::::.:
.. rn~
Asylum and Univ., 1892 ... 107
Funding bo nds, 1894--95 ...
New York-6::1. !oar.. 1891. ...
68, loan, 1892. .•.•....• ..
6·s.-~id·.-.-00~,-98
1•1
6s. old, A .& 0 . . .. . . . .. . . .
N.Car. RR., 1883-4-5 .......
N.Car.RR., seven.coup.off
N.Car. RR., A. & 0
_...
N.Car.RR., seven, coup.off'
Funding act. 1866-1000 . . .
Fundmgact, 1868-1898 . . . .
New bonds, J. & J., 1892-98
New bonds, A. & o .........
Ni~·d~:~ !ll!:
~~:~~t~:,~iass'i:°1898-'.li
~g:g::i~:~!fi8rso!dissues
Consol., 4s, 1910 . . . . . . . .
Sma.11 bonds . . . . . .. . . . . .. .
6s, 1919 . ................ ....
Rh ode lsland-6s, cp., '113-94
South t:arolina-6s,act Mar.
23, 1869,non-funct. 1888.
Brown consol., 6s, 1893 ....
'l'ennessee-6s, old, 1800-2-8
6s, new bda., 1892-'C8-19()(J.
6s, new series. 1914 . . . . . . .
Compromise 3-4-5-6s, 1912
New Settlement. 6s, 1913.
87 - 90
105 -106
87 - 88
105 -105
t&g
:mi
:m¼rn&½:i&~
-107 107 -107 104 -105
1, 7 -108 107 -107 106 -107
llJ. -112 110 -111 110 -111
112 -115 lll½-112 110½-lll¼
1t;½:1~ 1k~ :I~½ 1§g
35 - 35
85 - 85
86 - 36
170 -170 liO -170 170 -170
140 -UO 140 -140 140 -140
170 -170 170 -170 170 -170
140 -140 140 -140 140 -140
10 - 10
10 - 10
10 - 10
10 - 10
10 - 10
10 - 10
20 - 20
2ll - 20
20 - 20
20 - 20
20 - 20
20 - 20
:ii~
~
: 1l
ig : rn
95 - 96
11 : 11
}g :
8½: 10
u ig : i8
rn~~Jg: rn~½=rn:½rn~ =rn~~rn& :mi rn~ =rn~¼rn~ =½8!
1& : 18
93 - 95
118 -120
114 -11;5
9! - 9-1
93 - 9:l
120½-12t
100 -112
l~= ½8
9! - 114½ 93 - 9!%
92 - !!2
92 - 93
120 -120 11~ -119
108 -110 1U7 -108
4
104
5\J
59
50
69
117
3½- 8'-'
106 -106½
59 - 60
611 - 00
69 - 60
69 - 70
100 -102
3½- 3¼
105 -106
57 - 511
57 - 59
57 - 59
67 - 60
100 -101
- 5
-106
- 60
- 6U
- 60
- 'iO
-102
::: ~:m:::::~t gt mt ·a0 _ 70~
Virginla-6s, old . . . . . . . . . .. . 48 - 4'1
6s, new bonds, 1866 . . . . . . 4S - 4-.'I
6s, new bon<ls, 1867. .... ... 48 - 48
6s, consol. bonds . .......... rn - 'i5
~i~=
48 48 48 75 -
~~
48
48
48
75
~
48
48
48
70
8½- 4
104 -100½
57 - 60¾
57 - 60¾
57 - 601,,(
fJ7 - 70
100 -101¾
1§g
35
170
140
170
140
10
10
20
20
-104
-107
-109
-110
:i§A
- 36
-170
-140
-170
-140
- 10
- 10
- 20
- 20
g: g
t8 :
8 - I<¾ 7
8
Trmrtreceipts, 6s .......... 8 - I)
H¼- 8½
5 8 24
116
7
• .'~~ i~½::m¾
-ll
D~u~iRi~i~j~~--~
:igg 1g~
··g : 0· .. s
:
0
·0 .. ··1 : ·s·· :::: :
: "s°' 8 :
48 - 48
48 - 4d
6.5 - 70
7 7 -
8
13½
I 77
-
8½
9½
::::
·s··
½&~
:18! 10.l
rn½ =rn~½i
02½-10a°.
-104 105 -105
~½- i½
t
107 -108 107 -108
- . ....... - ..•.
iot:i - 110 llQ½-110~
1~ :1M 1~½:1M
35 - 35
00 - 00
170 -170 170 -170
140 -140 140 -140
170 -170 170 -170
140 -14'l 140 -140
10 - 10
10 - 10
10 - 10
10 - 10
20 - 20
20 - 20
20 - 20
20 - 20
i : 1& 8 : 1~
~ : 18¾ g : i8
ll2 - 92½ 92 - 93
1111 -120 119 -120
108 -109 lOS -108
i¼:
- 94
93 : ~3
~ 2 : ~3 ½
91 - 91½ 91½- 91½ 90
"2
"0
., 1
120 -122¼ 120 -123½ 122 -128½ 119 -120
10d -108 108 -~08 108 -110 107 - 108
9~
8 .,
120
108
3¾- 4
3¼- 8:J.(
106 -107 106 -106½
60 - 62
tH - 62
60 - 62 · 61 - 62
60 - 62
61 - 62
70 - 72
71 - 72
104 -105 104 -105
3¾- 3½
104 -104
62 - tS2¾
6?. - fl2J4
1\2 - 6t¾
71½- 72
102 -102½
3 - 3!,(
104 -105
62½- 62½
62½- 62½
62½- 62¾
71 - 71½
102 -1~
3
104
61
61
61
70
102
3 - 8½
105 -100
61½- 62¼
61½- 62¼
61¼- 62¼
71 - 72
104 -104
48 - 48
48 - 48
70 - 70
40 - 48
40 - 48
70 - 70
48
48
4>l
70
=
~i 48~~=- ~
~g48 =
31½ 48~~- 48~I gg¼:
~g¼ gg4.0 =- 70~
- -18
-l8
- 48
48 - 48
48
- 48
- 48
- 70
104 -10-l
107 -107
ioii -1io··
1~ :ikg
35 - 36
170 - 170
140 - 140
170 -170
140 -140
10 - 10
10 - 10
20 - 20
20 - 20
g : g ··a= 9¼ ··s - ·g·· ··7
93 - 94¼' 98½- 94¼ 92 - 92½ 9:!
48 - 4d
48 - 48
70 - 70
48 - 48
4>l - 46
70 - 70
38 ig : 38 ig : ig gg : ro gg : gg
g::
~~~~o~~.u:3~;~~~-~~~-::
6s, deferred bonds.........
-105
-107
-108
-109
:i§g
- 86
-170
-140
-170
-140
- 10
- 10
- 2·>
- 20
7 8 -
- S,½i
-104
- 61~
- 61½
- 61½
- 70
-101
~¼= ~i¾ gg~ gg¾
-
48
48
48
70
ro8 =- gg8 .506 :- ~o".
gz6 :- gi6 . gz. . . :- gz. . . •
6
8
li½
8½
8 -
½68 :lt~ :::: : :::: :::: : .... lat
:m
8 -
~ 2~
:
9¼ 8¾- 9
12
~ .. ½hi
3 - 8
lOi -104¾
61 - 61
ell - 61
61 - 61¼
70 - 71
104¼-105
u -
9¼
48
48
48
iO
-
50
50
50
70
5 -
6
~
- 92
- 91
-121
-110
~g =- 4'1~t¾
48
48
48
78
- 48
- 48
- 70
5
8
lrJ
91½- 92¾
90 - 00
121 -122
110 -111
S½- _4½
105½-1083(
62¼;- 64
62¼- 64
62½- 64
71½- 73
103 -100
~~~=
48
48
48
70
-
~II¾
'18
48
48
70
=58 g~ : gg g3 : ~
7¾- 9
8¾-
:m m:m m:rn~ rn~ :½~½
8
8
9~- 10
rn~¼:½3~
18~9.
JANUARY FEBR'RY.
MARCH.
APRIL.
MAY.
JU~E.
JULY.
- - - - - - - - - - 1 ·- - - - - - -
Alabama-Cl. A, 4to 5, 1906.102¾-104
Class A, small. ............. 102½-104
Class L{, 5s, 1006 .. . .. . . . 110 -110
Class C, 41!! 11106 . . . . . .. . .. . W -100½
6s, 10-20s, i000 ............. 101 -102
i\~~2~
A;:.,tt~i~~tds:
7s, Memphis & Little Rock
7s,L. R. P. B. & N. 0.. ..
7s, :Miss. O. & R.R..... . ..
7s. Ark. Central RR . . . . . . .
104 -104.¾
10!¾-105
111 -lll¼
100:J.(-100¾
102¼-103
105 -105¾
105 -105½
111 -111
lOu~-101
lOL -101½
1~ fgU :- 1~
½~ ... . ~. . :-
18
10
10
10
:
- 12
- 12
- 12
ti - 6
12 - 12
12 - 12
6 - 7
...• .... .. .. -
tt :½8a4¼ ~?.~
105¾-105¾ 105:1:(-106½
105¾-105½ 10~-108
111 -111 111 -112
101¾-101½ 101 -101¾
101½-102 101½-103
1
~~~ . : ~~-=
........ - . . . . 10 - 10
.......• - .... 10 - 10
... . .... - . . . . 10 - 10
. .. . .... - . .. . 5 - 5
106 -107½
107 -107
Jll½-112½
101!1.(-102
103 -10!?
103
102
110
100
100
-104
-106
-110
-100
-100½
i5 M 10}g :- 10}~ 10½t :- 101~
.~.
10 - 10
10 - 10
7 - li
10 - 10
10 - 10
7 - 8
0
MZ~hT~~~~~~fJgo::: . :::: •.
Missouri-6s, 1889--1890 ...•. .
Asylum and Univ., 1892 ...
Funding bonds, 1894-95 . . .
New York-6s, losn.1892 . .•.
Ni~·d~:~i'i!l~6-s:oic1:,-86:,-98
6s. old, A .& 0
. . .. . . . .
N.Car. RR., 1883-4-5 .......
N.Car.RR.,seven coup•s ofl
N.Car. RR., A. & 0 .
. ..
N.Car.RR.,seven coup',!Off'
Funding act, 1866-1900.. ••
Fundmg act. 1868-1898 . .•.
Newbonds,J.&J.,1892-98
Wew bonds. A. & 0...... ...
JlJhat:itam RR..... . .. ......
Special tax, class 1.........
108¼-103¾
103½-103¼
llO -110½
100 -100
100 -100¾
}8¼=
10
10
10
8
½~
- 10
- 10
- 10
- 8
105
100
103 -104
105 -107
110¼-110½
1~½:1AA
35 - 35
170 -170
140 -140
170 -170
HO - 140
10 - 10
10 - 10
20 -20
20 - 20
6 - 8
10 - 10
}8 :
102 -104
lOt -106
ll0½-110¼
1§8¼;:1~g¼
30 - 35
170 -170
140 -140
170 - 170
140 -140
10 - 10
10 - 10
20 -20
20 - 20
5 - 6
6 - 7
108 -108
112½-112½
111 -111
11~¾:1~i¾
85 - 35
170 -170
140 -140
170 -170
140 -140
10 - 10
lo - 10
2J -20
20 - 20
6 - d
... . - ....
107
111
110
1ig
85
170
140
170
140
10
10
20
20
....
....
-107
-111
-110
=1Jg
- 35
-170
-140
-170
-140
- lu
- 10
-20
- 20
- ....
- ....
104
lllJ
110
1Ag
35
150
140
150
140
10
10
15
15
5
6
-107¼
-111,ti
-110
:1§~
- 87
-lriO
-150
-180
-150
- 13½
- 13½
- 20
- 20
- 5
- 6
104
111
110
1ig
35
170
140
170
140
10
10
20
20
6
7
½8 92),(g : 94~ :~:.,,,.,: -- 91i:::: ..946%:- 946¼ ..956 :- 98·o~ ··1
98
~g:g~:n:::~~t.~8a!ciissues
Consol., 4s, 1910 .. . .. . ... 1)1 - 91!!4
Small bands . . . . . .. . . . . .. 89 - 00
6s, 1919 ........... . . ....... . 1223'-123¼
Rhode lsland-6s. cp., '118-94 110 -110½
South Carolina.-6s,act Mar.
23, 1869,non-funa., 1888. 3%- 4
Brown consol., 6s, 1893 .... 108 -104!,t
Tennessee-6s, old, 1800-2-8 64 - 64
6s, ntiW bds.• 1892-'£8-1900. 64 - 6i
6s, new series. 1914 . . . . . . • • 6-1 - 64
0
-107
-112
-110½
:1§g½
- 35
-170
-140
-170
- 140
- 10
- JO
- 20
. 20
- 7
- 8
v~t~~~~~nc:l~ i866.::.:::: ~
8%- 4~
.•.
.
64 - 65
64 - 65
64 - 65
8¾- 4½
104 -10'1
64 - 64
6'1 - 64.
64 - 64
4¼!- 4¾
104 -104¼
64 - 65½
6-,l - 65½
64. - 65!-fi
: : ~48 :- :48 ....
- ........ : .::: ~ : ~
. . . - ........ - . . . . 48 - 48
- sir· ii : ig ... - :::: :::. : :::. ~ : t~
5
: g -~-~ : ~-- :::: : ::::
'i½ , : ~¾
- lQ½ 9 - 10
8 - 9 • . - . .. . ~- 9¾
6s, new bonds, 1867.. ... . . . 48 - 48
i::~~?~ ~i,:~e\d~()Upoi1s:: "iii
5
~i::~~f:~:;;;tt:~~~~:::::::
~
Trust receipts. 6s. .... .... . 10
0
Dia. of Columbia....S·6!$s,1Q24 121 -122
f µ~l ijl' ~ \8~ ...• , ...
-lO&
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
102½-104:J.(
104 -10'1
107 - 108
98 - 99!,£
100 -101¼
1
1
~ = ~¼
8 - 8
8 - 8
8 - 8
7 - 7
105 -105¼
104 -105
10b -109
100 - 101
101!1,(-102)4
1
1
103
110
108
1gg
85
170
140
170
140
10
10
20
20
5
tS
104
110
108
1gg
35
1~0
140
170
140
10
10
20
2,1
5
6
104¼- 104¼
110 -110
108~-101)
1~½: 1~
35 - 88
170 -170
140 -140
170 -170
140 -140
10 - 10
10 - 10
20 - ~o
20 - 20
4 - 5
5 - 5
=
~¾=
8
8
8
7
-
:½
8
8
8
7
105 -1~
10!\J,(-105!>.1,
109 -11<%
10}. -101~
102¼-10~
1
f -: }~10
8
8
8
5
- 10
- 10
- 7
-10::J
-110
-110½
:11g½
- 35
- 180
- 140
-180
- 140
- 10
- 10
-20
- 20
- 6½
.. . . - . . . .
102½-103
110 -110
1 .0 -111
1~ :1M
85 - 35
170 -170
140 -140
170 -170
140 -140
10 - 10
10 - 10
20 - 20
20 - 20
~ - 6¼
7 -
w
-·~=
120 -120¾ 120~-l~l.~
-f08¾ 1~-wf~
1~
105
ll t
106
1gg
85
170
140
170
140
10
10
20
20
5
i
-105
- 112¾
- 10\l
: 1~
- 85
- 180
-150
- 180
-150
- 10
- 10
-20
- 20
- 6¾
- 8¼
96
95
124
110
- 97½ 96 - 96¼
- 95
- .. ..
-125 126 -127
-llO 110 -1~0½
:i¾-
4¼ 1024
101¾-102¼
65 - tffl½
65 - 66~
66 -
~g
4
-lOi
63 - 65
63 - 65
63 : ~~
96
.. ..
125
108
- 9~½ 96
- .. . ·194
- 126 123
-111 108
- 96¼
- 94
-124
- 110½
4
lOl
68
68
- 4'4 4 - 4½
-101½ 101 - 102½
- 68-n 67 - 67¾
- 68~,t d7 - 67½
~ ~7 u- ~7½
~,L-
95
... .
12!
108
- 00¼
- 124¾
-110¾
96½- 97
95 - 95
128 -124
105 - 103
4 - 4¾ 4!!9- 5
103 -108~ 104¾-105
67 - 67 1 67 - 6,~
.... - ... 07 - 07~
- .. ·67 - tt7¾
..
8
78
104¼:1&7½ 1J*10~¼ 168¾=1~¾ 1Zk:1Ig¾
101 -101 101 -101½ 101¾-101"' 102 -102¾
7d¾- 74½ TJ¾- 74
73¾- 74
78¾- 74¾
: !~ !~
: ~ !~
: ~ ~48 :- 48~ ::::
= :::: :::: : :::: .::: : ::::
48 - 48
48 - 48
. . .. - . . . ... •• - . . . . . . - , . .. .
: ~g5 ~ : ~8 :·:: : ::. ~ : gg :::: : ::., .... : :::: :::: : ::::
: g - ~~ - ~oo· ·· ··:;¼: .8.. ·· 1 : ·s½ :::: : :.~:: "s - ·s· ··7 : ·,r·
• 8
8
7 - 8¾ 8 - 8¾ 8 - "
7 - 8~ 8 - OM
4>l - 46
~
~
8
122
_ ½-1~ t~-~¾ 123 .. ~.
l~~t9'1 ¼~ -:}~
- 10-1¼
-1 10
-108¼
:1~~
- 35
-170
-140
-170
-HO
- 10
- 10
- 20
- 20
- 5
- 6
0
4¼- 4¾
105¾-106
tS6 - 66
66 - 6tS
66 - 66
~
-104
-110
-111
:1M
- 35
-170
-14.0
-170
- 140
- 10
- 10
-20
- 20
- 6½
- 6½
= 8¼ "5 : "f ' .. 5½: "f" 6 :: '5ij ··5 : "a'" ··r; = -~-· .. 7¼- -~
- 99
91 - 91 . .. . - . . .. . ... - . . . . ll5 - 96
96 - 96
124 -1~ 124 -125 122 -122 122 -125 11!6 -127
110 -110~ 111 -111 llU½-110¼ Ll0¾-110¾ 110¼-110¾
3-U- 43'
104!4-lO-I.J.4
64 - 64.'4
64 - 64~
64 - 64'4
102
110
110
1~g
35
170
140
170
140
10
10
20
20
~~~psi~::ie!tt:.\1~1~ 1bW':1Z~ 16~ :1t~ l~½=1bi 1ttJ.9:1Zl½ 1~ ~=1Z~½ 1&~ :1Zi¼ 16g :100½ 1Z: -106
New Settlement, 5s, 1918. 100 -100 100 -1~ 101 -101 101 -101 l(fl¾-102 102¾ 105 102¾-104 101 -102
New ~ettlement, Ss, 1913. 7l - 72
72J.4- 72½ 71%- 72¾ 72 - 72
7.2¾- 75¼ 7~- 76~ 72¾- 7~ 72¾- 78
0
103 -10$%
108¾-108~
110 -110¾
00 -100
100¾-100¼
1
1
~
~½
8 - 8½
8 - 8½
8 - 8½
7 - 8
:tgg mg :}gg½ rn~ :½3i¼ }8§½:rni¾ }~¾:mg ½8A¾:}g~ }8~ :}g~¼ m¼: }g~¾
88¾- 00
87 - 90¼ 86½- 89:Jfi 88½- 91¾1 9a - 94½
:10r · it :18l¾ ioii -1oti .. ioo -100~ 1~½=1~ 18J :1g~ 1~ :iii 1~ :1~¼ 1gi :1~½ 18g :1gg¾ iofi½:1oti½ 18g :1g~~
-100¼ 100½-lOU½ 100 -100 101½-101½ 101¼-102 102 -102½ 100 -lOU¼ 100),(-100½ lOQ¾-101 101 -101¾ 101¾-101~ 102½-103
ig~m:~~1!. !~:s~~si~~t rng¾J&g
-l~~~ ~~~-½:I~~~ }8g
stamped, 48. . .. . ... . . . . . . . . &¼- &;¾ l:i6 - rS¾ 87 - 8~¼ 88¼- 88½ {10¾- 90¼ 90 - 90¼ 88)i- b9
0
AUGUST. SEPT'BElt. 0CTOllER. INOV ' BER. DEC'BER.
- - - - - - - - - - - - - - - - 1- - - -1- - - - - - - - - - - - Low.Higb Low.High Low.High Low.High L ow.High L ow.High Low.High Low.High Low.Jllgh Low.High Low.High f,ow.High
SECURITIES
l~H9
122 -124
t08 ·109
121 -122~ 121
lO§ -\98 10\t
-1.22¾ 121 -121
122 -l.22
·lOII ng ,-W) 1oq -lQ6,
- ....
.. ,,.,
STATE SEOURITJES.
[Compiled from quotations bid on Friday of each week.]
1890.
JANUARY FEBR'RY.
SECURITIES.
MARCH.
APRIL.
MAY.
J UNE .
JULY.
AUGUST . SEPT'BER. OCTOBER. Nov'BER. DEC'BER.
----1
1 ----·l----- -----1----l - - --l-----1- - - ~ - - - -
LOW.High Low.High L~w.High Low.High L ow.High L ow.High Low.High Low. High Low.High Low.High Low.High Low .High_
1891.
[Compiled from actual sales made at the New York Stock Exchange.]
SECURITIES.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
JANUARY FEBR'RY.
MARCH.
APRI L.
MAY.
JUNE.
JULY.
AUGUST . SEPT'BER. OCTOBER. NOV'BER. DEC ' BER.
RAILROADS AND THEIR SECURITIES.
PRICES
OF
STOOKS
AND
BONDS,
1887-1891.
Railroad construction in the United States in the year 1891 showed quite a decrease in mileage compared
with the preceding year, as the total of new road constructed was estimated at about 4,168, against 6,081 miles
in 1890, as estimated at the close of that ye.ar. But Poor's Manual in making up and adjusting the figures
for 1890 made the final statement for that year only 5,738 miles.
The Railway Age, in comme•nting upon the new construction of 1891, gives the following mileage of track
laid in each state, omitting fractions of a mile : Maine, 5 miles; New Hampshire, 7 ; Vermont, 19 ; Massachusetts, 5; Rhode Island, 4; New York, 198; New Jersey, 50; Pennsylvania, 260; Maryland, 3; West Virginia, 183 ; Virginia, 188; North Carolina, 115 ; South Carolina, 212; Georgia, 237 ; Florida, 37 ; Alabama,
179 ; Louisiana, 151; Tenne~see, 171; Kentucky, 29 ; Ohio, 160 ; Michigan, 138; Indiana, 29 ; Illinois, 93 ;
Wisconsin, 146 ; Minnesota, 104; North Dakota, 101 ; Soutl;i Dakota, 54; Iowa, 28 ; Nebraska, 44 ; Kansas,
1 ; Missouri, 36 ; Indian Territory, 5 ; Arkan sas, 75 ; Texas, 155 ; Colorado, 152; Wyoming, ·47 ; Montana,
188; California, 148; New Mexico, 18; Idaho, 20; Utah, 78; Oregon, 49 ; Washington, 228.
The country has witnessed since the war three great periods of railroad extension, culminating respectively
in 1871, in 1882 and in 1887. In the first period the new construction was 4,615 miles in 1869, 6,070 miles in
1870 and 7,379 miles in 1871 ; in the second period it was 6,876 miles in 1880, 9,796 miles in 1881 and 11,568
miles in 1882; in the tbird period it was 3,608 miles in 1885, 9,000 miles in 1886 and 12,983 miles in 1887,
since which date the construction has been 7,066 miles in 1888, 5,706 miles in 1889, 5,738 miles in 1890, and
4, 168 miles ( est imated) in 1891.
The following tables, made up from figures given in Poor's Railroad Manual, show the progress of construction in each year from 1831 to 1891 inclusive, and financial statistics since 1871. It will be observed that from
year to year corrections are made in the figures showing total mileage in the country up to the end of each year
and previous statements of annual increase in each year, this being rendered necessary, as the Manual says, to
make an adjustment for mileage which was only lumbering or mining track, and also for mileage abandoned.
RAILROAD CONSTRUCTION YEARLY A.ND TOTAL MILEAGE IN OPERATION.
Years.
Annual
Miles in
Increase of Operation
Mileage. End of Yr.
1831. .....
1832 .••...
1833 ......
1834 ......
1835 ..•...
1836 ..... .
1837 ......
1838 . ... .
1839 ..... .
1840 ......
]841. .... .
1842 ..... .
1843 ......
1844 ......
1845 ....•.
1846 ......
72
134
l5l
253
465
175
224
416
389
516
717
491
159
192
256
297
95
229
380
633
1,098
1,273
1,497
1,913
2,302
2,818
3,535
4,026
4,1R5
4,377
4,t:533
4,930
Annual
Miles in
Increase of Operation
M1le»ge. End of Yr.
Years.
1 47 ..... .
1848 ..•...
1849 ......
1850 ......
l o51. ... .
1852 .. .. ..
1853 ......
1854 ......
1855 ......
1 ~6 ......
1857 ......
1 58 ....
1859 ......
1860 ......
1861. ... ..
1862 ......
668
398
1,369
1,656
1,961
1,926
2,452
1,360
1,654
3,642
2,487
2,465
1,821
1,846
651
834
5,598
5,996
7,365
9,021
10,982
12,lj08
15,360
16,720
18,374
22,016
24,503
26,968
28,789
30,82§
31,286
32,120
Years.
Annual
Miles in
Increase of Operation
Mileage. End of Yr.
1863 ......
1864 ......
1865 ......
1866 ......
1867 ......
18 68 ......
1869 ... ...
1870 ......
I 71. .....
1872 ......
1873 ......
1874 ....•
1875 ......
1876 .... ..
1877 ......
1878 ......
1,050
738
1,177
1,716
2,449
2,979
4,615
6,070
7,379
5,878
4,097
2,117
1,711
2,712
2,280
2,629
-33,170
-38,908
35,085
36,801
39,250
42,229
46,844
52,914
60,293
66,171
70,268
72,385
74,096
76,808
79,088
81,767
Annual
Miles in
Increase of Operation
Mileage. End of Yr.
Years.
1879 ..... .
1880 ..... .
1881. .... .
1882 ....
1883 ......
1884 ......
1885 ......
1886 ......
1887 ..... .
1888 .....
1889 ......
1890 ......
1891 (est.)
4,746
6,876
9,796
11,568
6,741
3,8 25
3,608
9,000
12,98:i
7,066
5,706
5,738
4,168
86,584
93,296
103,H.3
114,712
121,-l55
125,379
128,3(jl
136,379
149,207
156,173
161,3H)
166,817
170,985
RAILROAD STATISTICS FOR THE UNITED STA.TES.
Len~th
of Line
Owned.
Years.
- - - - - - -· -Miles.
1872 ...•...•.......
1~73 .. ......... .. ..
1874 ..... ......... .
1875 ...............
18i6 ...............
1877 .........
1878 ........ .. ...
1879 .......
1880 .. .... . 1881. .... ··-·····
1882 .... . . -.. •• ·
1883 ... .. ·····--·
18~4 .. ·········--·
1885 .
lBt- 6 . ..............
1887 ··-··········-·
1888 ...............
1889 .............. .
1890 .. ........ ... ..
---·
···--·
... -·
-
Canital
Stock.
Funded
Debt.
Other
Debt.
Length
of Line
Operated
- - - - - - ----- -- - -
Grosa
Traffic
Earnings.
I
Miles.
$
$
$
57,32S 1,647,844,113 *1,511,57~.9.J.4 ······--·· ···· ··
57,323 465.ln.o551
70,651
1,947,638,584 * l.836,904,450 . ................
66,287 526,41P,935
72,623 1,990,997,486 *2,230,766,10 8 . ......... .......
69,273 520,466,016 ,
74,096 t4,658,208,630 - ... . . -- . 71,759 503,065,505 '
---·
·········
76,305 2,248,358,375 2,165,141,368
55,092,192
73,508 497,257,959
79,208 2,313,278,598 2,255,318,6 50 237,604,774
74,112 472,909,272
80,832 2,292,257,877 2,297,790,916 182,248,556 · 78,960 490,103,351
84,393 2,395,647,293 2,319,489,1 72 156, 81,052
79,009 525,620,5,7
92,147 2,708,673,075 2,53l',874,94!i 162,489,939
82,146 613,733,610
103,530 3,177,375,179 2,878.423,60 6 222,766,267
92,971 701,7~0,9t- 2
114,461 3,511,035,824 3,235,543,323 270,170,962 104',971 770,209,t-99
120,552 3,708,060,583 3,500,879,914 268,925,285 110,414 823,772,924
125,152 3,762,616,686 3,ti69,ll 5,772 244,660,596 115,704 773,396,317
127,729 3,817,£97,832 3,765,727,066 25i:>, 108,281 123,320 772,f> 68,833
133,606 3,999,508,508 3,882,966,33 0 280,673,814 125,185 829,940,836
147,999 4,191,562,029 4,lHti,943, 116 294,682,071 137,028 940,150,702
154,276 4,43fl,411,342 4,624,035,02 3 306,952,589 145,387 960,256,270
159,994 4,495,099,318 4,828,365,771 357,477,1 60 153,94.5 1,002,926,059
163,420 4,640,239,578 5,105,902,02 5 376,494,297 158,037 1,097,M7,428
--
-
--·
-
Net
Traffic
Earnings.
In~erest
Pa.id.
Dividends
Paid.
$
$
$
165,754,373 ,,,
64,418,15 7
183,810,562 . ........... ... 67,120,70 9
189,570,958 .. . ..... -.....
67,042,94'2
185,506,438 ···········--··· 74,294,20 8
Us6,452, 752
93,559,57il 68,039,66 8
170,976,697
98,820,927 58,556,31 2
187,575,167 103,160,512 53,629,36 ~
216,544,999 112,237,515 61,681,470
255,557,555 107,866,328 77,115,37 1
272,406,787 128,587,302 93,344,19 0
2 80,316,696 154,295,380 102,031,43 4
298,367,285 173,139,064 102,05? ,5 4 8
270,890,955 178,058,382 94,414,83"0
269,4-9 3,931 187,426,035 77,672,10 5
300,603,564 181J,03tl,304 81,654,13 8
334,989,119 203,790,352 91 ,573,45 8
301,631,051 207,124,288 80,243,04 1
322,122,721 218,974,:tl4 81,262,52 3
346,9:.n,318 229,101,144 83,8 03,63 2
.. .. ···- ----·
.. -----
· NOTE.-* includes funded and other debt, and t includes total capital and debt accounts. Owing to the incompleteness of the information at
hand the statistics of "other debt" and "interest paid" ca.nnot be furnished for the first four yea.rs covered by above statement.
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Federal Reserve Bank of St. Louis
R.A.lLROA.D E.LRNJNOS.
GROSS EARNINGS FOR THE
YEAR 1891.
Railroad .,. gross earnings for the late calendar year
proved a great deal better than was supposed likely at
the beginning of the year. The comparison being with
1890 was with extraordinarily favorable earnings, the
array of strikingly large gains by leading companies for
that year•having bern simply unprecedented, the Pennsylvania lines East and West, for instance, having gaiE.ed
nearly nine million dollars, the Atchison and San Franeiwo 5½ million dollars, etc., etc. This improvemen t followed direo.tly as the result of the good crops raised in
1889 and the great industrial activity occasioned t ereby
during 1890. The conditions in 1891 were widely different. The 1890 crops had proved short, making
a falling off in the grain traffic during at least
the early part of 1891 inevitable over many roads.
Then there came industrial depression, thij strike
in the Connellsville coke region, the prostration
of the iron industry, the falling off in ore shipments, the great decline in the price of cotton with
resulting depression at the South, and on the Pacific
Coast also there was a reaction from the previous era of
buoyancy, the lumber trade particularly being re orted
inan unsatisfactory state. Of coursethegreatcropswith
which the countrJ was blessed later in the year proved
n. fortunate circumstance, and exerted an immediate
beneficial inflnence, but in many sections the conditions remained unfavorable to the end.
We are able to present a very comprehensive: statement. We have returns for the full twelve months
from 148 roads, operating 98,779 miles of line at the
end of 1891 against 96,311 miles at the end of 1890.
These 148 roads earned $562,098,962 gross in 1891
against $528,943,718 in 1890, showing an increase of
$33,155,244 In addition, we havi returns f~r eleven
months of the year from 53 roads whose .figures f r the
final month will not be given out till some weeks hence.
These 53 roads earned $378,357,135 on 41,935 miles in
the eleven months of 1891 against $367,659,293 on
41,048 miles in the eleven months of 1890. By com.
bining the two sets of figures we get an aggregate of
$940,456,097, covering 140,714 miles, for 1891, against
-a.n aggregate of only $896,603,011, covering 137,359
miles, for 1890. In other words, we find an imprnvement of no less than $43,853,086.
RAILROAD
Miles of Road
End of Period.
Gross Earninas.
1891.
1800.
e
lncrease.
1891.
1890.
- ---$
'
14~ roads full year ... . . 562,098,962
33 roads 11 months ... 378,857,135
528,943,718 33,155,244
867,659,293 10,697,842
98,779
41,985
96,311
41,048
94'0,456,097
896,603,011 43,853,086
140,714
l87,359
Graud tot. (201 rds).
-- - -
The change m the character of the exhibits during
the last lrnlf of the year is shown by a recapitulation
of the results for the different months as taken from
the monthly statements in the FINANCIAL CHRONICLE.
Miu:ane.
Per-to4..
Earn•nns
- - - ~ "---1----•-·.,,_·_ __ I_ In,crea~.
1891.
M1l68.
January (165 roads).
90,099
February (145 roads)
89,374
March (140 roads) . . .
87,817
April (1110 roads) ... . .
90,995
May (137 roads)......
87,220
June (138 roads) . . . .
85,734
July (146 roads). . . . . .
90,895
Auaust (148 roads)..
91,038
Sept'ber (140 roads).
87,711!1.
October (U7 roads). 100,022
Novemb :>r (142 r'ds).
06,95S
December (US) r'ds.
95,886
1890.
1891.
87,299
86,569
85,151
88,682
84,525
88,215
8·7,430
36,773,581
88,484,866
34,6!4,504
38,742,249
86,774,414
35,64c7,157
41,674,857
P.O.
1890.
Mi~-.----.----,-34,618,203 2,160,328
82,154,99211,829,374
33,243,758 1,400,746
86,989,469 1,752,780
86,655,029 119,385
88,916,218 1,780,039
38,4.00,716 8,273,641
6"24
4·13
4·21
4·74
0·33
5·10
8·52
crops and the freedom with which the grain, or more
particularly wheat, was marketed; as a result, - in a
number of instances the bulk of the increase in earnings
was made in the last six months. At the seab0ard the
receipts of grain for t.he year, according to the New
York Produce Exchange, were 225,057,180 bushels
against 197,099,932 bushels, and the receipts of flour
16,624, 773 bbls. against 14,242,282 bbls. This is an
increase of 28 million ~ushels of grain and an increase
of 2¼ mil_lion barrels of flour. But for the first six
months the receipts were only 59,842,109 bushels,
against 124,816,911 bushels, so that a loss of 65 million
bushels for the half-year was converted into a gain of
28 million bushels for the year.
At the Western
primary markets the results were much the same. For
52 weeks of 1891 the receipts foot up 456,421,798
bushels, as against only 401,427,570 for the 52 weeks of
1890, giving an increase of 55 million bushels. But
for the period up to June 27 the receipts had been
only 144,445,682 b 1Shels as against 199,254,950
bushels in the corresponding period of the year preceding; it .follows that a loss of 55 millions was changed
into a gain of 55 millions.
It was stated above that in the South the low
price of cotton and the unsatisfactory state of the iron
industry, with the reaction from the "boom" m rea
estate values, had proved depressing influences. On the
other hand the movement of cotton to market was very
much heavier than in 1890, and in a number of cases
served to overcome the effects of the influences mentioned. The gross shipments overland for the twelve
months of 1891 were 1,798,439 bales against only 1,522,510 bales for the twelve months of 1890, while the receipts at the ports reached 6,944,690 bales against
5,682,619 bales, so that altogether the increase was
,fo excess of 1½ million bales-in exact figures 1,538,000
bales. ·
GROSS EARNINGS FROM J.ANUARY 1 TO DECEMBER 31.
Name of Road.
1891.
1 890.
j.tch. Top. & San. Fe ...
Roadsj'ntly own'd, ~St.Louis & San Fran . .
Roads 1'ntlyown'd,½.
A tlanta & Florida . ... _..
Balt. & Ohio Southwest.
B
lrmingham & Atlantic.
ttll'. Roch. & PittS0Ul'/!,
: url.
Ued. Rap. & Nor ..
c anadian Paci.tl.c ... . . _..
C aoe Fear & Yad. Val ..
Charle&to Cin. & Chic ..
C har. Sumter & North'n
C hesapeake & Ohio .....
Chesap.Ohio &Southw..
Chicago & East. Ill .....
Chie. Milw . & St. Paul..
Chie. Peoria & St. Louil.,
Ch ·c. Rook Ie.l. & Pac .. a
Chie. St. P. & Kan. City.
Chie. & West Michigan.
Cin. Georg. & Ports .....
C in. Jack on & Mack ...
Cin. N.O. & Texas Pao ..
.Ala. Great Southern . .
N. O. &Northeastern ..
.Alabama & Vicksburg.
Vicksb. Shrev. & Pac . .
inn. Northwestern ....
inn. Ports. & Virginia.
Columbus & Maysville
in.
C Wabash & Michigan
CC leve. Akr on & Col. ... .
lev. Cin. Chic. & St. L ..
Peoria & Eastern ..•...
Cleve. & Marietta .......
Colorado Midland .......
ol. Hock. Val. & Toledo
Shawnee & Hock
c ol.
urrent River.........• :
D env. & Rio Grando ....
D es Moines & North'n ..
Des Moines&Northwest
Det. Lansing & N orth'n.
Ill. So. Shore & Atl...
uluth & Winnipeg .... .
ast Tenn. Va. & Ga ...
E lgin Joliet & East .....
~'va.nsv. & Indianapolis .
: vansv. & Terre Haute .
lint &Pere Marquette.
~loridt1 Cent. & Penin ..
ort Worth & .Rio Gr ...
G a.. Bou\hei-u. & Fla ....
g;
33.409,142
1,750,670
6,958,381
1,714,883
119,530
2,506, 8 62
50,209
2,804,309
3,88ti,340
20,209,282
583,357
163,842
139,477
8,813,090
2,336,496
3,618,975
~9, 860,837
1,169,116
17, l 83,90~
4,714,459
1,750,925
68,494
728.375
4,838,202
1,922,610
1,219,692
686,824
661,219
21,551
247,016
12.474
742,335
939,380
13,572,546
1,719,945
346,044
2,052,188
3,289,500
620,799
15:5,33i
8,462,217
131,769
215,440
1,252.084
2,160,11 8
85,571
7,092,518
727,571
350,292
1,180,332
2,895,.'.>14
1,491,118
329,485
7ij3 308
31,562,411
1,679,591
6.608,272
1,644,592
130,783
2,329,077
78,239
2,202,135
3,303,982
17,032,316
555,209
137,048
78,206
7.719,614
2,161,684
3,297,589
26,810,930
729,791
16,971,132
4,329,974
1,606,416
67.507
680,301
4,447,857
1,965,963
1,240,638
685,306
625,377
20.~rn8
227,813
9,459
603,170
859,059
13,310,131
1,502,235
334,835
1,897,128
3,078,900
315,071
173,766
8,875,785
120,139
221,097
1,219,064
2,241,097
57,1-19
7,491,382
591,482
301,386
1,060,403
~.923,574
1,212,437
194,698
736,696
g
g
::::~
I :::~~::~~:
!~:!;!:~~! =:~~:: ~
~~:~~ ~
97,506
58,058,1145 53,492,54814,565,997 s -54
94,544
93,389
40,487,624, 4'5,226,208 4,261,416 9·42
47,969,610 43,So!i,664 4,104,946 9'86
j
$
Increase. DecreaHe
$
1,846,731
71,079
852,109
70,291
$
...........
........... .
............
·ii:2-53
i11:,=;s5
--- .....
602:i14
........
582,358
3,176.966
28,148
26,794
61.271
1,093,476
174,812
321,386
3,050,007
439,325
212,770
3 84,485
144,509
9 87
48,074
.........
. .........
. ...... .
1,518
85.842
1,313
19,203
3,015
139,165
80,321
262,415
217,710
11,209
155,060
210,600
305,728
-·--·--·
·ii;6:io
·si4'io
·2s;422
ia6;o·s9
48,906
119,929
28,030
.........
.........
.........
.·····-··
..... ...
---·····
-------·····-·
.........·
......... . .
. .........
----------- -- -.. ............
ioo:655
43,353
20,946
--·--···
..........
. ........
.........
..........
...........
. .........
. .........
. . . .. .... ,.
····--··
..........
--··---·
-------·
18,435
413,568'
""5)f57
·so~o19
·····--·
. .........
.........
398,864
·2s:<>60
The grain-carrying roads derived great advantage
21s:6si
...........
134,787
--··-···
in the latter part of the year from the large grain ----------=:--~~~........::...::....:.!.:..::..::.!--.=.::.!:.:::.::.:=--..:..:::.::..::..:.:
16,612
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
--
61
bAJi,Jl{J.A.!J EA.RNJN().S-R.AlLilOAD lJoltlJS.
..
~ -;~
...__
-~-
Name of Road.
1891.
Gr. Riids & Indiana ...
Cin. icb.& Ft.Wayne.
Other lines ............
1Gr. Trunk of Canada.
. tChic. & Gr. Trunk... .
tDet. Gr. H. & Milw ...
Great Nor. St. P. M.& M.
Eastern of M ..........
Montana Central ..... .
Gulf & Chicago ..........
Humeston & Shenand'h.
Ind. Decatur & Quincy
Int. & Great Northern ..
Iowa Central. ...........
Iron Rail way . .......... .
Jack. Tam. & Key West ..
Kanawha & Michigan ..
Kan. Ci~ Clin. & Spr . . .
Kansas . Ft. S. & Mem ..
Kan. City Mem. & Bir ..
Keokuk & Western . ... .
L . Erie Alliance & So ...
Lake Erie & Western ...
L ake Shore & Mich. So ..
Lehigh & Hudson River
Little Rock & Memphis.
Long Island ... ..........
Louisv. Evansv. & St. L.
L ouisville & Nashville ..
Louisv. N. A.lb. & Chic ..
L ouisv. N. Orl. & Texas .
L ouisv1ll e St. L. & Texas
L ynchburf & Durham ..
M·empbis Charleston..
Mexican Central. .......
~
. Texican National. ......
i Mexican Railway ......
Mi·ch. Cent. & Can. So ...
Milw. Lake Sb. & West.
M il waukee & .Northern.
Mineral Range ..........
Minneapolis & St. Louis
Minn. St. P. & s. Ste. M.
M1asouri K. & Tex. sys . .
Misso. Pac. & Iron !\it ..
Mobile & Ohio ...........
N ashv. Chat. & Bt. Louis
N . Orleans & Southern ..
N . Y. Cent.& Hud. Riv ..
Rome Water. & Ogd ..
$
2,400,990
~50,853
22 2,516
19,383,258
3,717,062
l,11:!3, 50 2
11.111,787
1,179,1'.:!7
882,759
42,551
171,904
4 36,294
4,0~0, 7 06
1,so:.i.1111<
34, Fi90
763,944
327,57 1
307,840
4,800,312
1,208,3 77
406.487
75,153
3,264,334
21,460,000
407,789
719,830
4,116,1358
1,574,055
20,252.996
2,1347,731
3,889,923
481,525
166,132
1,622,473
7,374,062
4,206,547
3,939,707
15,005.000
3,527,714
1,746,030
147,<t02
1,817,280
2.572,64.4
9,485,635
23,855,070
3 ,495,777
4,739,441
173,i15
40,278,090
3,985,972
1890.
--
Increase.
Dec:ease.
I
$
$
2,601,979
......... 200.~89
471,296
20,443
-·---·216.604
5.912
...........
422, "85
19,906,143
------3,73 6,530
. .........
1, 11 8 ,t>82
6<t.820
10,135,917 1,'i75,87(1
666,968
512,159
7 41. 148
141.611
... ......
44,190
1,639
2,1)"4
169,830
::,- ·.208
4G4,086
..........
4,u53.61 ,27,058
····-·-·
1,688,076
114,082
37,l it)
2,526
60 ''.772
i54:i12 ··sj:£4
~3 5,915
44.0,795
.......... 132.955
4,822,426
22,114
1,218,839
10,462
·ai:~ff2
371,675
68,007
7,146
·····-··
3,074,439
189,895
. ........
20, 65,759
594,241
.........
366,717
41,072
.........
621,630
9 8 ,200
............
3,940,023
176,8~5
1,311,926
262,129
19,161,223 1,091,773
..........
2,630,132
217.599
······-3,236,625
653,298
·--·--··
394,491
87,034
--·----11-1,787
51,345
2·2i(iffs
1,849,3!:n
9 48:3-67
6,425,695
...........
3,754,966
451,581
4,106,961
167:254
14,490,000
.........
3,848,568
............ 3:.?0,854
1,590,363
155 ,6 1\7
. ..........
1215,408
i 1. H34
... ........
1.510,844
30fl ,4.:H'!
--····-2,013,371
559.27a
·······
9,004,007
4 81,628
........ ..
25,44S,.413
411,657
------··
3,441,847
5::l.93()
. ..........
3,784,634
954, 807
-·••····
U>9,190
111,,225
-----·36,258 ,641 4,019,-14.9
. ........ .
3,946,240
39,782
.........
:T]
--------
---·---·
-------··------
--------
------·-------·
5i5:oou
Vaine of Road.
1891.
Mew York & Northern ..
N. Y. Ontari o & West'n ..
Norfolk & Western ......
Northern Paciflc ........
Ohio & Mississippi.. ....
Ohio River ..............
Ohio Southern ..........
Peoria Dec. & Evansv ..
Pittsb. Ma riou & Chic ..
Pitts. Shen. & L. Erie .. .
Pittsburg & Western ...
Quincy Omaha & K. C ..
Richmond & Danville ..
Virginia. Midland Div.
Char.Col. & A.ug. Div.
Col. & Greenv. Div...
West. No Caro. Div . .
Georgia Pacific Di, ...
Wash. Ohio & W. Div.
A.shev. & Spar. Div ...
Rio Grande Western ....
Sag. Tuscola & Huron ..
St. L. Alt. & T.H. Br'cl.11:1
St. Louis Southwe tern .
St. Paul & Duluth .......
San Fran. & No. Paeiflc .
Ba van. A.mer. & Mont ..
Silverton ....... . . ... .....
Sioux City & N orthr.rn
South Carolina ..
Staten Island Rap:T·r°an
Tennessee Midland .....
Texas & Pacific .........
Tex. Sabine Val. & N. W.
Tol.A.nn A.rbor &N.Micb
Toledo Columb. & Cin ..
Toledo & Ohio Central..
Toledo Peoria& West'n.
Tol. St. L. & Kan. City ..
Wabash ..................
Western N. Y. & Penn ..
Wheelin~ & Lake Erie ..
Wisconsm Central ......
Wrightsville & Tennille.
N
1890.
·-- - -
$
$
511,729
509.51:i
3,050,060
2,4.61,502
9,145,083
8,577,955
25,037,336 24,402,751
4,214,082
4,139,958
707,564
680,973
589,135
554,861
876,134
792,454
44,502
37,636
337.358
261,741
2,271,790
2,234,740
262,626
254,627
6,017,700
5,775,000
2,243,815
2,274,980
960,845
967.248
846,419
869,580
1,042,648
9-71.925
2,057,870
1,885,775
163,160
148,817
162,302
150,408
2,573,825
1,986,097
106,637
102,587
1,429,482
1,336,910
4-,560,651
4,102,143
1,824,430
1,494,225
874,421
799,390
502,979
400,629
105,674
125,468
312,091
44.=" ,290
1,661,028
1,563,619
1,033,707 1,005,196
211.671
218.390
7,222,280
7,3t7,710
48,184
52,933
1,024,117 1,127,209
3-10,100
312,060
1,493,319
1,499,264
982,624
937,224
1,595,259
1,922,690
13.9:')4,261 13,064,554
3,588,802
3,647,801
1.163,234
1,287,848
5,259,fl59
5,185,735
91,069
8.t.993
et1~~~~i~!~ ~~-~~~>_-. ·_ ·_: ~~-~•?~~•~~~ ~:-~•~~~•~.
1
-~
Increase.
Decrea&e.
$
2,214
$
588:55.8
. ... ... ...
. ........
. ..........
567,228
634,585
74,124
26.,591
34,274
83,680
6,806
75,617
37,050
7,999
242,700
. ..........
. ... . . ..
. ........
. ..........
. ..........
. ........
--···--·
...
·-··
31.lo5
··6:403
"70:1·•~,°3
········
23,161
--------
. .......
---·····
---- ---·-······
--· ·· ···
--···-·
-------·
. ........
172,095
14-,3-!3
ll,l:l94587,728
4,050
9.!,572
453,50;;
330,205
75, · 31
102,35(
19,794
133,199
!:17.40~
28,511
. .........
.. . .....
... . .....
--·· ·--·
·-·--- -·
···· · ·-P,71 !-I
10." .,480
4.7H>
103,09'.:l
.......
------··
........
·2s:t~io
·45:400
------·
5,9-!5
..........
------··
327,431
889,707
58,999
124,614
.·····--·
........
·1s:iii.i
····-···
..........
6,071
~~;igg:~Il[ •~~~~ ~~-'.
3
t To January 2.
a For January February and March tlgur js are actual for both years,
but for rest of p eriod estimated .
•
PRICES
OF
RAILROAD
BONDS.
'l,he following compilation of monthl _v highest and lowest prices of railroad bonds is made up from sales at the
New York Stock Exchange. The order of classification on the Stock Exchange Quotation List is followed to a
great extent, and in a few cases this arrangement brings some leading bonds under the old and popular name by
which the railroad has been known, as for instance the New York Lake Erie & Western securities under the
title of Erie. Wherever there was but a single sale in a month, the price so made is given as both the highest
and th9 lowest. All the prices in the tables following are compiled from actual sales at the Board.
ISS7.
BONDS.
JANUARY FEBR'RY.
MAllCH.
APRIL.
- - - - - - - - -· - - - .
MAY.
I
J UNE.
AUGUST. SEPT'BER. OCTOBER. NOV 1BER. DEC'BE:ct.
JULY.
- - , - - -· - - - - - - - - - - - - - - - - --- - - - 1 - - - -
Low.High Low.High Low.High Low.High Low.High Low.lligh Low.High Low . High Low.High Low.High Low.HigJ, Low .High
--- --- --- --- ---
.
I
-----,-----, - - - - - - - -
Atlantic & Pnc.-lst ... 4 ,86¾- 90
85!1,(- 87½ 85¼- 87½ 86½- €8
87 - 88
86 - 88½ 82¼- 84¾ 82 - 84
80¾- 88
81¼- 83
St¼- 83¼ 82 - 82¼
We8t. Div.-lst ....... 6 88½- 90½ .... - ....... - .... ,, - ... . ... - ..... ... - ........ - .. .. .. - ... . .... - ........ - ....
- . . ..... - •...
Income ................ . 6 26 · 29¼ 25~- 28½ 2!>¾- 80
29 - 34½ 83¾- 88 j 83½- 88¾ 30 - 35~ 20 - 32½ 24¼- 30¾ 23½- 28
~O¼- 29
25¼- 26~
Centrnl Div.-:Jnc .... 6 .... - ........ - .. .... .. - .. .. 22¼- 22½ 33 - 83 · 35 - 35 . ... - .... 25¾- 25½ .... - ........ - ........ - .... .... - .. . .
Bait. & 0.-lst, P.Br .. 6 126 -126¾ 126¾-127 12C -125 122 -123¼ 123 -125¾ 125%-125¾ 12::i½-125¾ 125 -125½ 119½-125 .... Gold, 19~~. coup ... . . :; 110¼-111½ 109 -111¾ 110 -112½ l<Xl¼-110¾ 110 -112 ?10¾-112¼ 112¼-113 109~.(-110¼ 105¼-109~ 100 -106 106 -106¼ 105 -108>1i
Beech Creek.-lst, 1r •• 4 .... - . ... · 84 - 87 .... - .... 81 - 81 .... - .... 78 - 78
80 - 80
Bo8t.H.T.&Wes deb .IS 00 - 92
91 - 86
92:J.{- ·8li¼ 95 -100
00 - 90¾ 1 99¾- 00½ .. .. - .... US¼- 99
i;6 - 96¾ 95 - 05
00 - 98
98 - 98
1
- .... 106 -105
B'klyn El.-ht,19~4 .. 6 .... - ... ..... 104 -106 105}4-106
~dmort,, 19:!5 ... . 3-5 .... - .... ...
- ... 82 - 88 83 - 63
Bar.O. n.&No.-lst .. 5 106¾-107¾ 107!1(-109 108 -109 107½-109 108¾-110 107 -H"3 108 -no 100 -no 108 -108¾ 107 -1CJ8 106¼- 107¼ 1()4¾-105¼
Con&. 1st & col. tr . . . :, JOl¼-108¼ 102 -102 100 -101½ 100½-100¾ 101 -101 i100 -1~ 90½-100
00¼- 99~ .
().Rap,l.F.&N, ·-lst,6 .... - .... 106 -106 105 -105 106 -107
ldmort,, 1921 .... !} .... - ....... - .... 100 -101 .... B.N.Y.&P.-ht,19~1.6 .... - .... 41 - '5
48 - 4~ .... - . ... 45 - 46~ , 42 - 42 .... - .... 4.0 - 40
88 - 42 .... - •... 40 - !iO
Carolina C'ent.-lat .... 6 . .. - ... .f. ... - .... 107 -107½ .... Central Iowa-lilt ...... 7 *89 - 00¼ *86 - 90
90 - 00¼ 4 91 - 92 *91 - 94 •sg - 90)4 •s7"'- 90¾ •so - i5 •8: - 81 *80¾- 82 *82 - 82 . . • . Eastern Div .-l ■ t .. .. 6 ... - .. . . 67¾- 71½ 72 - 73
71¼-. 72
- ........ - . . . ... .
Cent. RR, & B,, Ga .. 5 . ... - ... . 100 -100¾ 9t3 -101
99- 100
00 - 99¼
Ceat.otN.J.-lst,1890., 108*110 105¼-107J.( 106¼-108½ 107 -107 107 - 108 108 -10~,! ... 104½-1049,t 105 -10:,J.4 105¾-105¾ 106 -108 1()6¾-107¼
Consol,, aHented ..... 7 107¼-110~ lw,(-112 lll½-118½ 112½-116 115~-117 ll~-119 115 -117 112¼-115¾ 113 -114¾ 118 -117 112¾-115~ 111 -113
Conv., assented ....... ,- 109 -110 110 -Ill¾ 111 -11~ 112½-116¼ 115¾-117 ll5J.4-ll&¾ 115 -117 114 -115xi 118¾-114 114¼-115 118 -114 112 -114
A.diustment .... ......... '7 100¼-107¾ l~¾-107 105¼-106 105¼-107¾ 107 -107¾ 107 -108 107½-!08 l~-108¾ .... Conv. debenture ... ... 6 83¼- 86¼ 85¼- gg
87 - 89
87¾-100
Oll:Jt-103¾ 101 -105 102 -102 100 -100~ 98 - 98 103 ...J.03 109 -116
Interim bond cert .... 5 . ... - .... 00¼-100
07¾- Wll( In¾- 99~ 00 - 99
OOk- 98U 9'73,{-100 .... Gen. M., 1987 ........ ~ .... - ........ - ... , ll9 - W¼ 97~- 101
Leh.&W.B.-AHent '7 110 -110¾ 118 -116 118 -114 112 -114 114 -110 112;,-115 114¾-116 112 -115 109 -111 109 -111 110 -111"-t 100¼-114
Income ................. ,- .... - ... 05 - 9!)
05 - 95 100 -100 ...• - .... 08 - 98 .... - .... 100 -100
- .. . .... 00 -102 1◊1*108 102¼-10~ 1~108~ 104 -106¾ ·1~ -106~ .... - •... 102 -102 1~-100 100 -104~ 101~-103 l()S¾-104.
.... - .... 113 -118 119 -114 118 -115 .... - ••• 115 -lUi . ... - .... 110 -110
- .... 107~-111 .... - ...•
107¼-107,t 107"-108 109 -109¾ 1~106JJ4 l~-107 .... - .... 104¾-104½ 103¾-106~ 100 -100~ 90 - 00
9& -100
"'76J,t- 81 •77~- 78¾ '7C - 78 •~ - 7'71' "71 - 78 *?"A - 76 .-,g - 75 *74' - 78 *M• - 75 *66 - 6Q>( •oo - 68¾ •66~- 68
Exten. coup., 1986 , .4 78¾- 7~ 78}+- 75~ 7S - 74
~ - 78
68 - 78¼ 68 - 72
68 - 70
68 - 71l,t M · - 71
62 - 66~ M,½'- 68
64¼- 70
Currency............... 6 29),(- 82
27 - 29
27 - ~ :n - 21½ 24¼- Z7
24¾- ~ 2~- U½ 20 - !2
l~½- 21
HS - 17¾ 14 - 16
18 - ~
Mort •• 1911 ............ 6 97~ ~ 98 -100
97 - ~ 96¼- 98~ 00½- 97¼ 00½- 00¾ .... - ... . 94 - 95
93¼- 95
9~- 91~ 69 - 89¾ 88 - 91
Ches.
& S. W ..... ~-6 103½-105).d 101- 102 10~-106¾ 105½-106½ 106}(- i.07 107¾-108½ 107),(-108 . ... - •.. . 101 -101 104 -104 101 -106 •.•• - ..••
Chic, & Alton-l•t .•... ,- 115 -115¾ 115 -116 116 -11!!½ 117 -117 11{%-116¾ . ... - ....... - ... , .. .. - .......• ,- .... 1118¾-114¼ 11~114½ .... - ....
Slnklnii 1und .......... . ff 124 -124 125 -12~ l~-125¾ 127¼-127¼ 198 -123 .... • - ... f123 -123 123:¼·123¼1•··· • •... 123¾-125 .... - . ···1123¾-1~
L.&Mo,R,ht,.19001124 -124 120)(-128 ..•• - . •• 121~-122 122jg-122¾ 122¼-122¾ 122 -12!¼ .• •• - ••.. 117"-117¾ 118½-119 119 -119
... - ....
~d, 1900 .............. 7 ... - .... 1~ -ll!O •••• - •.. ..• •• - .••• 11n -116.½ 116 -117
-1.16 . ..• - •.•. 117 -11'1 117¾-117¾ .... - .... 110 -119
St.L • .J. Ch.,18t,.'94., 117 -118 118 -118 l!O -12
116¾-11~ .... - ... . .. 112 -113,½' l18¾--113½1114¼-116}s
1st inort., guar .. ... '7 . ...
• .•.•••• - •.....•• - ........ - .... ll~-117¼ .••• - •...•••• - ....
115~-ll~ ll~-118¾ •••• - •..•
Mlss.Rlv.Bd.lst,s,f,6 110 -110 .... - ........ - ........ - .... 110'1 -107 .. .. - •••. ....
.•.. ..••
. .....•• ..••• - ........ - ... .
Am. Dock & Imp ...... 5
Ches. & 0,-Pur.1'1,fd .. 6
Serie■ A .... ............ 6
Serle8 B... . .. . . . .. .. 6
o.
lua
····1 ... - ....... - ........ - ....
I···· - ....
• Coupon off.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
.RAILRo.Ab BONDS.
188?'-Continucd.
JANU.ARY FEBR'RY.
BONDS.
~
.APRIL.:__!
M.AY.
JUNE.
JULY_:_ AUGUST. 8EPT 1BER. OCTOBER. NOV'BER. DEC'BER.
_ _ _ _ _ _ _ _ _____, Low.High Low.High Low.High Low.High,Low,Higb Low.High Low.High Low.High Low.High Low.Higl1 Low.High Low.High
I
Chic. Bur.& Nor.-lst.5 104¼-105½ 105½-106¾ 106¾-107¾ 104½-10!)¾ 105 -106 106 -106¾ 105~-105¼ 105 -106 108 -103 101 -102½ 102 -108 101½-102!.
Chic.B.& <t.-Consol. .. 7 ;132½-134½ 130½-132¼ 130½-132 180%-133 1132¾-135 134 -134~ 13()¾-131 129½-180½ 130 -131 130 -131 131 -131½ 182 -133~
Debenun·e ........ ..... /) 106 -lOtl¾ 106%-108 106¾-107¾ 107½-108½ 106½-108 107 -108 106 -108¼ 104½-100 103 -105½ 104¼-105¾ 102¾-10-!½ 103½-104½
95¼- 96097½- llS¾ .... - .. , . IJ5½- 95½ 90 - ll7
Iowa.Div ..... . ....... 4 i ll9 - 91l¾ ll·½- 90¾ 91l - 99¾ ll7¾- ll8~ 98¾- 98¾ 00½- 99 ll9 - 99
93¼- 94
92 - 04:)4 92½- 9-1
98 - llS¼ .... 97 - 98
Dcuvei• Div., 1922 .. . 4 i 9S%- 99 98 - 08 97¾- 98½ 07¼- 98 97¾- PS
94 - 94½
97 - 97
- .... 05 - 95
Nebr'sko.Ext.,1927.4! ... - .... ...
- •••• 114 -110 116~- 17¾ 114½-115
Chic. & E. 111.-lst, s.t.6 114½-110 115¾-116 116½-117 117¼-117¼ 117¼-118 114¾-115
tstconsol., irold ....... 6114 -116 114¼-116 116 -118 115 -115½ 115 -117 116¼-117 116 -117 113 -116½ 114 -115 11::l -114 112 11 , 112¾-113½
9U¾ 97 -100
95
Chic, & In.C'l Ry-lst.5 l/8½-100 100 -101½ 100 -101 100¾-l 3 lOJ¾-103 102¼-103½ 100 -100¾ .... - •.. . 94 - 99½ P4 - 96
Chic. lllihv. & St. P.- .... 126 -126 126 -127 127 -128
1st P. D., 1898 ... .... 8 Hl8½-134½ 131 -131½ .... - .... 131 -1 I½ 180½-130½ 131 -131 130 -181 126 -126
- .... 119 -119 no -121
120 -121
- .... 123%-128½ 124½-124.¼ 121 -124½
2d, 1 89S .. ....... 7 3-10 127 -127 · .... 1st, gold ................ .7132 -132 131 -131½ 128;.!-180 129½-130 180 -130½ 181 -181 127 -127½ 127 -180 128 -128 125 -125 127¼-127½ 180 -180
ht Lo. Crosse Div .... 7 117~-118½ ll'i;.{-118¼ 118 -120 120½-liO½ 120)4-125 123 -124 115½-117½ 117 -117 115 -116 114¼-116½ 110½-117 117 -117½
- .... 117 -117 117¼-118½ 1!8½-119
- .... 122 -122 118½-119½ .... 1st I. & lll. Div ........ 7 120½-122½ 121½-121¾ 121:)4-122¼ .... - ... . 126 -126½ 127½-127x 128 -125½ 124½-124½ 126 -126 125~-12Y
1st C. &Ill . Div ...... 1130 -130 129 - 129 120¾-131 180 -181
Consol., 1905 ......... 7 128 -180 128½-129½ 128¾-130 129 -130 129 -180½ lSQ¾-130~ 127½-180 126¼-126½ 125½-1273-!i 125 -126 124 -126 125¼-127
- .. . 130½-130,l,<. . .. - ... .. ... - ... . 120½-125 125 -125
ht I. & D. Extcn . .... 7 130¼-180¾ 129½-180 120 -131
- ... . 117¼-117¾ 117½-117¾ .... - .... 117 -117 :14 -114 116¼-115¼ 115 -115 .... - .... lll½;-111½ .... - .. ..
ht So. \Vest Div . .. ... 6 115½-117
- .... 105½-105!,- . . . 1st Lo. C. & Dav ...... 5 105½-105½ .... 1st S o. lUinn. Div . .... 6 115¼-116½ 115 -118 116¾-118 117¼-llS 117 - 118 119 -119½ 115 -117 118½-117 113 -114¾ 111¼-113 112¾-115 112½-114
1st H. & D . Div ....... 7 124 -127 124 -120 125 -125½ 125%-126¾ 126½-128¼ 127½-128 125 -125 121 -121 120 -120 120 -123 122¼1)-122½ 122 -122
08 - 00
08¼-100
- ... . 102 -102
- .... 106¾-106¾ .... 1st H. & D. Div . ... . 5 .... - .... .... - .... 120 -120 118 -118 , . ... - .... 119¼-120
- .. . 121 -121 122;½-122½ .... Cbic.&Pac.Div . ... .. 6119 -120½ .... -104¾
102
10'1
103~102½-103
102¾-104¼
108¼-104½
-105¾
Cbic. & Pac. W.Div .. l> 106¼-100 106½-107¾ 107 -108 108 -108½ 108 -108½ 108 -109½ 103
97½- 98
98 - 99
- . .. . j .. •. Chic. & J.Uo. R . Div .. 5 .... - ....... - ........ - ........ - .. .. 106¼-106½ .... - ... . 101 =10·2·¼••!1·0··2·½=102½ .... - .... 100¼-102½
llliuernJ Point ..... . . . . /> 105½-106¼ 106¼-106}.\ . ... - ... . 103¾-105~ 105½-105½ ... Chic. & L. Sui,. Div.a .... - ........ - .... 104½-104¾ 105 - 105
Wis.& lUin . Div ..... . ii 105½-106¾ 10~-106% 105½-106¼ 105),(-100 100 -108 106 -106¼ 103 -104¾ . . . - .... 102 -102½ 100 -103 101 -101½ 101¾-102
Te1·minal.. . ........... 5 102¼-103¾ 103¼-108¾ 102¾-103½ 103 - 105 104½-115¾ 105 -105¼ 101½-103)4 102¾-103 102½-102½ 101 -1()2 101 -102 101 -102
- ... . 115 -115 .... Fai•go & So.-Assu ... 6116 -116 .... - .... 97 - l/7
Inc. conv., S . F ..... .. 5 .... - .... 100 -100 .... Dakota & Gt. So • .. . :,. ... . Chic. & X o:i·th west.Consol .• 1915 . ........ ,- 140 -142 189 - 141 139 -140½ 188%-140¾ 188½-139½ 139 -140 140 -140½ 180 -130 133 -139 187¼-188½ 136 -189 138¾-189¾
Gold, c oup ............ .. ,- 132 -133 130 -132 130¾-132 131 -132¾ 132 -182¾ 128 -121l 120¾-180 128¼-lSO 127 -129 127½-1211 128 - 120 124½-128½
Gold, 1·eir . ............... ,- .... - .... 180 -130¼ .... - .... 131¼-181½ 131½-132 128 -128¼ 129¼-130 129½-129½ t.17½-127½ 127¾-127¾ 124¼-129 124:J.(-128
- ... . 118 -118 . ... - ....... - ........ - .... 120 -120
Siukinu:tund,coup ... . 6 120 -120 .... - .. . . .. - . . . . .... - .... 117 -117 117¼-118
. . . ... - .... l20½-120½ .... - ........ - ........ Registered . ......... . 6 117½-118 .... - .... llll -110
inking fund, coup ... 5 108 -109½ 108½-100½ 109½-llU½ 108½-109¼ 108½-1~ 109 -110 109 -109¾ lOll -110 110 -110 105½-107½ 106½-107 107 -108
- .... 106 -107 107 -107
.... 108¾-1081}.!
....
Re!listc1·ed .. ... ..... -~ .... - ........ - .... .... - . .. . . ... - ........ - ........
Debcntu:i·e . ............ . a 108½-110 109 -110 100 -110¼ 110 -110 108½-109 109½-110 108½-110 108 -109¼ 108 -108½ 107 -107 106 -107 107 - 108¾
- . ....... - .... !06¼-106½
Registered ... ..... . 5 108¼-108¼ .... - .. . .. .. . - ... . .... - ....... . - ........ - . . . . ... 25 y1·s, deben,, 1909.5 107¾-108½ LCl7½-108 107½-107¾ 107¾-109¼ 106~-107¾ 106;J(- 10~ 103 -105½ 105 -105 108 -105 103 -105 102½-103¾ 103 -104
98 - 95
94 - 96¾ 94 - 94½ 92 - 94½ 02¾- 94
00 - 97
ll5¼- 96¾ 96¾- 97¼ 00 - 97
95 - 98¾ 95 - 96
Ex ten. bonds, 1926 .. 4 .... - .... 125 -125
Des :u.& lU.-lst .... 7 .... Esco.n.&L.Sup.-lst.6 ... - ... . 115¾-115½ .... - .... 126 -126 •... - .... 136 -136 ... . - .... 134 -184 .... Iowa lliidlo.ud-lst ... 8 .... - .... 135 -135
Penin sular 1st conv.7 .... - .... 121 -121 123 -128 121 -l'Jl 119¼-122 121½-121½ ...• - .... 122 -124
Chic.& Mil.-lst ... .. . 1 122 -122 .
- .... 180 -130
- .... 130½-lSl 131¼-131¼ .... - ... 128 -128 .... i\Vinoua& St. P.-2d.1 .... -116
116
....
..
.
7
.....
lUad.-lst
1Uil. &
Ottum. C. F. & St. P.5 110 -111 111 -111 108 -108 108¼- 108½ 108 -108 10& -100 108 -108 .... - ••• . 105 -106 100 -106½ 107 -107 .... 1'orthe1·n Ills,-lst .. 5 . ... - .... lO!J½-109½ .... Chic,R.I.&Pac.-Cp ... 6 130 -135 131¼-132¼ 132 -133 133½-134¾ 133¼-135 133~-183¾ 180¾-lSl½ 131½-132 128¾-132 131 -131½ 130 -181½ 132½-134¼
Registered . . ............ 6 130 -133 130 -131 132 -132 138¾-133¾ .... - ........ - .. . 131 -131 131 -131 130 -131 130%-180¾ 130 -138 182¾-132½
Exten. & Col.. .. . .... . 5 109¾-110¼ lOU -110½ 108;14-110 108¾-109 108½-109:J,;( 109 -110!,jz 107 -108l,4 107 -108½ 107 -109 107 -108)4 108 -108½ 108½-109½
- .... 109 -109 109 -109
Keok'k&D eslll.-lst.5 109¼-110 110 -110 111 -111 107½-107½ 107¾-110 108¾-110 110 -111 .... - .... 111 -111
- .. . . 80 - 87 107¾-107\l:(
89½- 90 ... . - ........ Des ;.u. & Ft.D.-lst.4 ... . - .... 93 - ll8
- .. .. . . . , - . . . . 59½- f>9¼ . . . . 1st, 1905 .. ........ . . 2½ ... - ........ - .. . . 87¾- 87¾
Extension .............. 4 .... - ........ - . . . . . . . - . . . . 87¾- 87¾ 87¾- 877~ . .. . IJ9½-100¼
-100
100
....
....
100
-:.0l¼
100¼-100¼
100½-101
-101 100
Chic.St.L.&Pitts-lst.5 98¾-101 102 -102 101¼-102 100½-101
Chic. St.P. Min.&Om.Consol., 1930 ..... . ... 6 121¼-122¼ 120¾-121¾ 120¼-123 122 -124 123¼-124¾ 120¾-122¾ 119¾-121 118 -119¾ 116 -119¾ 117¾-119 118 -120¼ 116¼-119
- ... . 122 -123 .... - .... 122½·122½ 121 -122
Chic.St.P.& M .-bt .. 6 127 -128 126½-126¼ 126 -126)4 120 -127¾ 123 -123 124½-124½ 125 -125
St. P. & S. City-1st .. 6 126 -127½ 126½-127 126 -127 124 -125 124 -125 124¼-125 123 -126½ 126 -126 124½-126 122 -128 123 -128¾ 128¼-123¼
- . ... 112 -115 ... • ..
..
- ... 117½-117½ .. .. - .... 116½-116½ 116¾-116½
Chic.&\.V.I.-lst,s.1 ... . 6 . ... Gen. mort. .............. 6 111 -111 .... - .... 112 -112 115¼-115¼ 115 -116 112½-113 1 10 -112 .... - .... 110 -113 .. .. - . . . . 114 -114 115 -ll~
- .... 97 -97 96~-97 .... - .... 94½-94½
- ........ - ........
Cin.J.&lU.-lstcon . a .... - ....... - ...... .
Cin.\.V.&B.-lstgn . . 4½ .... - .... 106 -106 . . .. - .... 115¾-115½
- .... 119¾-119¾ . ... - ... 117¼-117½ . ... Ciu.&S .--Gu.C.C . C.&I . .... - ·
•·· · 118¼-118½ ···· - .... ll7½-ll7½ ...
Guar. Lo.kc Shore ... 7 . ... 1
1
1
- ••. . 121 -121 120 -120 11s =- ~.~.~.-. .. .~=- ~.~.· ·••
~2;½ ~!~¾=~:~% 121 -121 120½=1~~~ 1~.~¼=121
~2
.~:;
22
22
/ Consol. S. F ............ , . .. . - . ... .. ..
1 ·~ 1 ...
Gene1·al cons . .. . .... .. 6 107 -109 107 -109 lOIJ¾-111 111 -111 110½-111½ llQ¾-111½ 108¼-108½ .... - .... 105 -108 104¼-105 105 -106 106 -109
96 - U9¾ ll5 - 90 100 -100
99 -100
Col. Coal & 1.-lst,con.ti 100½-102½ 98½- 99¾ 09 -103½ 101%-104 103½-104½ 103 -104¾ 102 -}.04½ 95¾-100
102½-102½ 106 -106
Consol. Coo.1-Conv .... 6 . . .. - ....... 60 - 73
70 - 75
75¾- 80
79 - 84¾ 79 - 83
66 - 70¼ 69 - 74J,4 68 - 71!'(
Col.H. Vo.I.& T.-lst ... 5 83¾- 88:U 84 - 87 75 - 83 79¾- 82
66 - 69
7U - 79½ .... - .... 70 - 70
76 - 87
75 - 76
70 - 80
64 - 72
80 - 84
63¼- 71
Gen. gold, 1904 ...... 6 80 - 91
68¾- 72¾
.. . . 04¾- g5
- . ... 96-96
Col. &Cin. Mid. lst ... 6 .... - . ....... - .... .. . - ... 100 -100 99½- 99½ 9~½- 99½ 00 - 96 ....
108
07½-108
107¼-108
106½-106½
110¼-110½
109½·110¾
109¾-110½
100¼-110¼
100¼-110¼
-109½
107
109½-110
108¼-1C9½
-109
Del.&Hud.C.-lst,'91.,1
Coupon, 1894 .......... ,- 116½-118¼ 118¾-118½ .... - , ... 115 -ll5½ 116 -116 !16 -116 116 -116 116 -116 117 -118 115 -118¾ 113 -118 .. .. - .... 117 -117
Reg., 1894 . ....... .... . 1 110 -118¼ 117½-117½ 118½-llb¾ ll5 -115 115½-115½ .... - .. . ... . - •... 138 -139
,,
Penna. Div.-Conp .... 7 141 -142 .... - ........ - .... 141¼-141¼ ... - .... 141½-141½ 139 -141½ 189 -141
Regi stered ........... 1 .... - . . . . 142 -142 .... - . . . . ... - . ....... ....
102%-103¾
-103
103
-108
103
....
....
-108¼
103
-105½
105
....
....
Alb. & Susq.-lst m .. 7 103¼-103>6 104¼-104¾ 104½-104¾ l~-104¾
_ ... ... .. _ ... 128 -128 ... 1st con., llUD.r .. ..... . 1 180 -130 .... bt con. aruo.r ... ... .. 6 120½-123 123 -123 122½-123 119 -120½ 120 -120¾ ll!l¼-120 119¼-119½ 119¼- 120 120 -120 117 -117 115½-117 117 -118
- .... 119½-119½ .... 1st, con. guar., reg.6 120 -122½ 121 -121 121½-128
- • . . . 141¼-141¼ 141¼-142 .... Rens. & So.r.-lst .. . . ,- 145 -145¾ .•.. .... 141 -141 141 -141
Del .Lo.ck.& West.- .... lll½-112 110½-110~
Convertible ............ 7 .. .. - .... 114 -114 .... - •. . . 118 -116 118¼-115 .... - ... . .... - ... . 131¾-131½ 132 - 132 131½-134 131 -182 .... - .... 180½-182 131 -131 131½-13~ .... - •..•
• ....... 7 189 -139 .... .Mort., 1907
. ... - ... . 129½-lSO
- .... 13~-180:J:( 133½-133½ 182¾-133
Syr.B'n &N.Y., lst .. 7 .... - ... ....
JUonis & Essex-1st.1141¼--142 141 - 142:J,;( 142 -143 148 -144¼ 141 -141 140¼-140½ 140½-142½ ... - .... 141 -141 188 -180¾ 188¼-188¾ 139 -140
2d mort ................ 7 113 -115 110¼-110½ 110 -110¾ 110 -111 110½-J ll 111 -111 112 -112½ 108½-100 107½-108½ 107½-107½ 108½-108½ 108¾-110
1900 ........ . ..... .... . 7 .... - ........ - .... , .. .. - .... 116 -116 119 -ll9 . . . . - ........ - .. .. .... - . ... 118 - 118 .... - ........ - ....... - .. ..
'h, 1871-1901. ...... 7 128%-128% 127 -127 127½-128½ .... - ... . 125 -127 l~½-120½ . .. - ... . 125 -125 124¼-126 ... . - .... 128½-128½ . ... - .. .
Consol., guo.r ... ...... 1184½-135 135 -135 135 - 186½ 185~-137 137½-137½ 134 -134 133½-133½ 184 -134 133 -134¾ 183 -185 135 -1~4 133 -18!,½
N. Y. L. & W.-lst ... . 6 125½-126¾ 126 -128 127 -127½ 126¼--128¼ 127¾-128½ 128½-128½ .... - .... 128¼-128¼ 125 -125 124%-125 125%- 126 127 -128¾
Construction .... .... 51109¾-110 107 -108 1077,-1H08½ 10~-1091109 -109:J,;( 109 -1C9¾ 109%-109¾ 107 -109 106 -108 108 -108 108 -108 106½-108
Denver& Rio G.-lst.1119 -120 118½-120½ 119.¼;-120 120),(-120¼ 120 -120¼ 121 -121½[119:J,;(-12CJ¼ 120 - 121 119¾-121 120 -121¼ .... - ... . 118½-119½
75½- 78½177¾- 79½ 77~- 79
79 - ~~ 81 - 8~ 79 - 80,4 77¾- SO½ 76%- 80
78½- 80
78¼- 78111 7~- 79
New consol.. .. . ...... .. 4 76¾- 80
I
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Federal Reserve Bank of St. Louis
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R..A.ILRO.AD
BONDS.
63
188'f-Conttnued.
BONDS.
_ _ _ _ _ _ _ _ _ _•
JANUARY FEBR'RY .
MARCH.
APRIL.
MAY.
JUNE.
JULY.
At:rGUST. SEPT'BER. OCTOBER NOV'BKR.I DEC'BER.
_L_ow.Hlgb Low.Hi~h Low.High Low.High Low.High Low.High L ow.Hhi:h Low.High Low.High Low.IIi!?h Low.Illgh Low.Hi1rh
1
Denv.&R.G.W .-lst .. 6 80 - 81!,4 80 - 81
79 - 80½ 7P'7k 82
81¼- 82
60 - 82 .... - .... 74 - 74¼ 70 - 71
70 - 73
'i'S¼- 74~,i 'i:J - 73
Al!lsented, 1st . . ........ 6 76 - 78 'i6 - 7i¾ 73~- 75¾ 75 - 78
77 - 78
71 - 777,1i 71 - 73
67½- 71
64 - 08½ 64 - 08¼ 66 - (l0Ml ' , 7 - 110
Denv. So. P. & P.-bt.7 75 - 80
75 - 75
75 - 76¼ 68 - 75¾ 72 - 82
78 - 86¾ 78 - 70 .... - ... . 70 - 70
. ... 'i4¼- 70 1 77 - 77
Det. M. & Marq.Ln.nd arants, 1911.3¼ 51 - 58
40¼- 55½ 51 - 55"' 58 - 55-}fj 53 - 56
40 - M¾ 45 - 51
85 - 47
20 - 89½ 30 - 35½ 82 - 35¼ 80 - Bil
Det.B.C.&Alp.-lst . . 6 102 -108)'1! 101 -104 104 -104 102 -105¾ 105¾-luS½ lOt!¼-110 106:J;(-107¾ 106½-108 106 -107 106½-107 107,4- 108¼ lO'i½-lOH
.E. Tenn. V. & G.-lst .. 7 121 -122 .... - .... 122 -128M 123 -1~3¾ 123 -123 123 -123 1104-117½ .... - ........ - .. . . 120 -120 .... - .... 118¼-l li-~4
Divisional . ............ .I') 107¾-107~ .... - ....... . - ........ - . . . . .. . - . ... .... - ........ - ........ - . ..... .. _ .... .. . . _ .... . ... _ ...... .. _ ... .
E.T . V. & Gn.. Ry, con l'i 08¾- 00¾ 08¾- 091,( 08½- 901,( 90 -101% OS¾- 90½ 98 - 09¾ 97¾- 90
06¼- ~8
01¼- 07
95 - 97½ 04½- 07
05 - 15;1~
En.st & w. Aln..-lst .. 6 lOQ¾-100% . ... - ........ 90 -101 107 -no 107¼-108¼ 108 - 108½ 100 -109¾' .... - .... 50 - 50 ... . - .... . ... - ... .
Eliz. Lex. & Big. S .. .. 6 105 -lOS 107 -107½ 104 -104½ 103¼-104 103 -104 102 -103¾ 100 -101
99 -100
06 - 96½ 05½- 90
96½- 07% 00¼- ll7
Erie-1st, Extended .... , 122 -122 . ... - . ....... - ....
- .... .. - •.•. . ... - ....... - ........ - .... . ... - .. 120 -122 110 -110 11 - 118
!ld, Ext ........... ....... . 6 114 -115 117 -117 112¼-H.2½ 112½-l't.5 116½-116¼ 110¼-116½ .... - ... . 117¾-117¾ 111 -112
.. - ... . 111 -111 112 -ll2
3d Ext ... ........ .... 4½ ... - .... 109¼-109½ 105 -106 ... . - .... 108 -100 100 -109 .... - ........ - .... 104 -104¼ 104¼-104½ 105 -105 ... . - ... .
4th, Ext .... ............. I') 114 -114¾ 115 -115 114 -116 115 -117 115 -115 llU¼-116½ 113½-118,.{
- ........ - .... 116 -116 .. . . - .... 110 -110
6th, 1888 ... ........... 7 105 -105½ 105½-105½ 104>t-10t¼ 104½-105 106 -106 102 -102 102¼-102¾ 102)4-102¾ 102¼-lO!J 103%-103% 103%-104 ... , - .. ..
1st, consol., gold .. .... 1 184¾-146 185¼-186 182¾-184½ 133 -135¼ 134 -136 135 -187 .... - .... 134 -184¾ 120 -130½ 180 -132½ 138 -135 133 - 136
1&t consol. fd. coup ... 7 .... - .... 180¾-180½ ... - ... . 181¼-181¼ 134 -134 .... - ........ - •...... - ...... .. - ... . .... - .... 130 -130 181 - 131
Reorgan., 1st lien ... 6 ... - ...... . . - ........ - .... ... . .. . .. - ........ - ........ - ...... .. - ........ - . .. . .. - ... 105 -105
... - .. .
Lona Dock ............. 7 118½-114 114 -114 115 -rns 114¾-115 ll5 -115 112¾-114 .... - .... 113¾-114 112½-115 112 -112 .... - .... 110 -110
Cons. gold ............ 6 115 -118 117¾-118 110 -120 117 -117~ 118 -118 118¼-118¾ 118 -110 .... - .... 118 -118¼ . ... - ....
- .. U5 -115
Buff. N. Y. &E.-lst.1 .... - ........ - .... 186-¼-187½ 136¾-136!)( ... . - ... . 186¾-186¼ 187 -137 136 -188 135 -186 137 -187 135½-135½ ... - ... .
.N.Y. L. E.& W.New, 2d con11ol .. ... . 6 P5!1(-100
93!1(-100
0(%-100½ 100 -102¾ 102¾'-104¾ 08¼-101½ 07¾- 90½ 06¾-100
97 - 00-¾ 94 - 99¾ 9 ¾-101¼ 06 - 08¾
, Col. trust, 1922 ..... ti 107 -107 .... - . .. . .... - .... . .. - .... 105 -105 . ... - .... 108 -108 108 -108 .... - ........ - .... 103½-104 l04 -104
Fund. coup., 1969 .. 6 00¼- 02¼ 88¼- 91
00 - 92¾ 93 - 04
04 - 95¼ 02 - 92
00¼- PO,¼ 87 - 87
85 - 86
84¾- 84¾ 84¾- 80½ 87½- 89
Erle & Pittsb.-Con ... 't .... - ........ - ... . 115 -115 .... - ...• . .. - .. •. ... . - . .. . . .. - .... . ... - ..•. . .. - . ....... - .... 112 -112 ... - ... .
Ev.&lnd'p,con.,1926.6 .... - ....... - ... . 108 -108 .... - ..•. 112 -112 110 -112½ .... - .. ...... . .. ... - ........ - . ..... - ... . .. . - ... .
EY. & T. Haute-Con .. 6 116 -118~.( 118 -118 118 -118 118 -119 119 -121 1120 -121 ll6 -117 115 -116 112 -114 117 -118 117 -120 117 -l 1-;_½
Mt. Vernon-lst ....... 6 110 -11-1 111 - 111 111¼ 111½ 112 -115 ll5 -llfl 115 -116 115¼-115¾ .... - .... ... - ........ - ....... - .. .. 106 - lOd
Flint & P. M.-Mo1·t ... 6 121¼ -122 123 -123
... - ....... - ........ - ....... - ... . 110 -119 .... .... - .... 117 -117 110 -lllJ 110 -110
Ft.W.&Denv.C.-tst .6 88¾- 90" 88¾- OOJ,.t' 89¾- 93½ 08 - 05½ 04!,4- 98½ 89¾- 04¾ 86¾- 92
84¼- 89
78 - 88
79½- 84
80 - 85
76 - 80l'i!
Gn.l.U.& H. ot 'S2 ... .. ;') .... - ........ - ........ - . . . 79 - 79 . . .. -. . . . 79 - so
78 - 78
71 - n
.... - ........ - ... ..... - ...... ..
Go.I. H. & SanA.-lst .. 6 .... - .... 106 -100 109¼-109¼ 108¼-108½ 108½-108¾ .. .. - ....... - .... .. - ........ - .... 105 -135 109½-109¾ 102 -107
2d mort . .............. .. 7 110½- lll .... - ........ - ........ - •... 110 -110 105 -108 .... - ........ - . . . . .. . - ........ - ........ - ........ - .. ..
Western Div-1st .... 6 00¼-10\J~~ Oi¼- 99¾ l/7 - 97¾ 06¾- 98 .... - .... 03¾- 04
03¾-'. 98¾ 08¾- 03¾ 03¾- 98¾ 01¼- 95¼ 03 - 04
02½- 92½
!ld. ....... .. ... .. .
. .6 02¼- 92¼ 02¼- 92¾ . ... - ........ - ........ - ........ ...... - ... . .... - ........ - . ... .. .. - ... . .... - .... .... - ... .
G1·.Rn.p.&lnd. ,1stl.g.7 .... - .... 110 -119 . . .. - . ....... - ........ - . .. .... . - ........ - ........ - ....... - ...... .. - ....... - ... . .. - ..
General ... ............ . :, .... - ... . 00½- 00½ 00 - 92¼ 92~- 05
95 - 95¼ 0572- OU½ 97½- 97½ 98 - 00
06 - 96½ 06½- 06½ 98 -100
09¼- 19.~
Gr.B.W.&St. P.-lst .. 6 *IJO -103 09 - 90
99 -105 105 -107½ 106 -109 10e -108 106¼-107 .... - ........ - .... 07 - 07
00 - 99
- .. .
2d, income .............. ~ 88 - 40% 88¼- 40¼ 407-1- 42¾ 41~· 50
49 - 58
44 - 50¾ 37 - 46¾' 33¾- 4()% 80 30¼ 28 - 37
31 - 37¼ 30½- 34
Gulf Col. & S. F.-lst .. 7 120ll:i-122¼ 121 -122 121¼-122 121¾' -122 121¾-126 124ni-125¾ 121 -lW¾ 118 -121¼ 118½-121 120¼-122 120 -121¼ 118 - 121½
~d, 1923 . ........ .... .... 6 101½-103 102¾-104 104 - 105 102¼-108 102½-106¾ 108 -106¾ 102 -103¾ 100 -102¾' 100 -103
07 -101
97 - 117¼ l:C¼- Hl:U
Han. & St. Jo.-Cons . ti l t l¼- 123 123½-128¼ 119¾-120 110 -120 119 -121 121 -121 119 -119 120¾-121 115¾-118 115¾-118 117¼-118 11 8 -llS'll
Hen. Bl'idge Co.-lst ... 6 108¾-lOOJlt 109¾-110 lOt'¼-107 108 -108 109¼-109¼ .... - .... 108¼-108¾ 108¼-110 107½-107¼ 107 -lO'i¼ 1, 8 -108¼ 108¼-108¾1'
Hous.E.&W.T.-lst.7 68 -68 .... - .•.. eo -60 68 -68 08 -60¼ ... - .... 68 -68 .... - .. ...... - ... . . . . . . . . . 01 -O l
... - .. ..
Ho1111.&T.C.-l11t,M.L.7 •t12:)4114 *113-114¾ *114¾-14¾ *114>(-17¼ 116 -110¾ 117 -118¼ 116 -118 118½-117¾ 112 - 115 118½-115 U 0½-llG 114 -llG
1st. Western Div ..... 7 *108-110 •108-108¼ •100-110 *108½-110111 -110½ 115 -116 113 :_-114¼ 112½-115;,! 112 -118 111 -112 1m -113½ 1.12}4-114
W.&N.Div ........... 7 .... - .. . *113-118 *115-111:i *116-118 115!14·110¾ .... - ........ - ........ - .... ... - .... 114 -114 .... - ....... - .. ..
2d, Mo.in Linc ......... 8 05 - 07½ 04 -100
09¼-102½ 102!14-105 105 -112 100 -100¾ 110 -110 104 -106¼ 08 - 00 100 -103 100 -107 l07 -109
Gene1·0.l mort ... ... .... 6 69 - 72 66¾- 60¼ f7½- 72¾ 'i'O - 73
72 - 79¾ 72 - 74¼ 71X?- 72
70 - 71
61¾- 65
55 - 60
05 - 72
CO - 70
III.Cent.-Gld.,19:i1,3½ 98 - 09)<( 08 - 08
98 - 1}8¾ 07!1,(- 07¾ P5 - 08
95¾- 07¾ 05 - 96
04 - 05¾ .... - .. . . 02 - 08
04 - 05
l/3 - 0-t
1st gold, 19:il ........ 4 108 -10 ¼ 107 -108 107 -108 107%-108 107 -107½ .... - ...... .. - .... 106 -106 107 -107 105½-105½ 100 -100 107 -108
Sprin,ii. Div., 1~98 .. 6 116¼-116¼ 116½-116¼ 117 -117¼ 1 17 -117¾ 117¼-lli½ .... - ........ - ..... . .. - .... ... - ........ ...... - ........ - .. .
IUiddle Div .. 1921 ... a .... - ..... ... - ........ - ... . .... - .... .. - ....... - ... .... . - ........ - .... .. .. - ........ - .... 112½-112½ .... - ... .
C.St. L.&N.O.-lst,c.7 121 -122 .... - ........ - ........ - ........ - . •. 120 -120 .... - .... . ... - .... . . - ....... .. ... - ... ... J Duaro.nteed ...... ... ,l 115 -110
115 -116½ 115¼-116½ 116½-ll7 117½-118 116¼-116¼ 116 -116¾ 116½-116½ 115 -116 114¼-116 llfl -11 8 114 -117
Cedn.1·F.&M ., 1st . .. 1 109 -110
.. - .... 107 -107 105 -100 107 -112 100 -100 .. .. - •... 104 -105 100 -100 .. .. - .... 00 - ill
82 - 8l!
Ind.BI.&W.-lst,p1·ef7119¾-120 124),(-124¼ 121 -123 120 -120 122 -1·22 123½-128J.2128 -128 .... - .... 120 -120½ .... - ........ - ....... - .. ..
1st, 1909 .. ......... .;i, 6 01).ij- O~½ 05 - 07
95 - 97
06 - 07 , 9il - 09
06 - 98
03 - 06½ 80 - 00
88 - 00
00 - 00
08 - 04
IJO - 01
2d, 1909 ............ :i, 6 77¼- 86
80 - 84¼ 83 - 84¼ 84 - 86
85 - 86
86¾- 89¼ 86 - 811
75 - 70¼ 70 - 75
72 - 74
75 - 77
72
:5
Eo.ste1·n Div ........... 6 01 - 05
94)4- 9U
03½- 95% 05¾- 06¼ 0-1½- 98¼ 06¾;- 97¼ 01½- 02
91 - 91 · 88 - 01
88 - 00
88 - 03
90 - no
Con. income ........... 6 80¼- 34¾ 31¾- 34
31 - 34¾ 32 - 84¾ 32½- 34¾ 81 - 33½ 25 - 29
24 - 26
20 - 27
10¼- 23½ 20 - 24½ HI - 21
Ind. Dec. & 8p'gfield.lst, ex lunde<I coup .. 7 108½-106 105 - 107 106 -106!1( 104 -105 104¾-lOO 108 -10&~ 106½-108 106 -107 104 -105 .... - ... . 102 • 102~ 101 - 102
2d income Trust 1·cpts. 88 - 88 88 - 41½ 30 - 40½ 88 - 42
41}~- 48
46 - 46
.. - .. . . 44 - 41¼ ... . - ..... . .. - . . . . 35 - 85
... - .. .
Intern. & Gt. No.-lst.6 117 -117 117 -118½ 121 -122 119 -120¼ 112½-115½ 114¼-115¼ 114 -ll5 112 -114 112 -113 113¼-114 10 -110 LO -WI•½
Coupon, 1909 .. ....... . 6 98 - 04¾ 08 - 08
03 - 06!1:{ 08½- 96
03¼- 95
927./4- 98¾ 02 - 04
00
9•
86 - 80
80 - 86
77½- 81
71:> - R~
.Jefferson-1st ........... 1 ... 101 -101 101¾-103 102½-108 1oe -106 ... . - . . ..... - ........ - ........ - ........ - . .. ..... - ... . .. . - ... .
Kentucky c., stnm'd ... 4 64 - 05
64 - 72
70 - "l
78½- 73½ 73¼- 75
75½- 76½ 78 - 78 .... - ... . 73½- rn
78¾- 75½ 72½- 74
: o - 'iZ
Knox.&O.-1st,192a.6 05¼-100
07½- 09
06 - 96
96 - 09¾ O'i - 09'7;1i 97½- Oil
04 - 05
01 - 94
00 - 02
89½- 80½ 9Jt- 92
!l2 - 02¼
Lo.kc E1·ie & W.-lst .. 6 110 -112¼ .•.. - ........ - ... ..... - ........ - ........ - ........ - . . ..... - ... ..... - ........ - ... . .... - ........ _ . .. .
Income ............... .. . 7 40 - 62 . . . . - . . . . . . . . - . . . . . . .. - . . . . .. .. - . . .. . . . . . . . .. - .. . . .. .. - . .. . .. . . - . . . .. . . - . . . . .. . . - . . . . .. .. _ ... .
So.ndusky Dtv.-lnc .. 6 25 - 42 .... ...• - .....•.. - .....•.. - ........ - ........ - ........ - ........ - ........ - ....... - ........ _ . . ..
Ln.keE.&W.,new . . O .... - ........ - ........ - .... ... - ........ - .... 103 -108¼102~~-103¾101)4-105 101¾' ·102 lOt -102 102 -1 03½ 103)4-104
Lnt.Bl.&M.-lst .... 6111¾ -114¼ .... - .... , ... - . ... .... - ....... - ........ - ........ - ........ - ........ - ........ - ........ - ....
- . . ..
Income .... ........ ... 7 68¼- P.7 •••• - ••••.•• . - ... ... .. - •.•..••• - ........ ...... - ........ - ..... ... - ..... . .. - •••••• •• _ ••..•••• _ •.•.
Lo.ke Shore & M. So.OJ. Pains.&Asb ..... . ? 114)4-114¼ 114½-114¼ 110¾-ll~¼ .... - ..... ... - .... 118 -1 18 114 -114 .... - ........ - . .. 109 -110~ 109¼-1093,4 109'.l;f-110½
Buff. & Eric-New .... 7 123 -124¼ .... - .... 124 -124 121¼-U!l½ i21¼-121¾ .... - .. . 124 -124 121¾-123½ 121¾-121¾ 119 -119 .... - •..
.. - ....
Kn.I. & W. P.-1st .. . . 7 ... - ........ - ...... .. - .... 102 -102 .... - ... ..... - .... .. .. 105 -10:'.>
104~-104¾ .... - .... 1106½-lll6½
Det. Mon. & Tol. ..... 7 120 -120 .... - .... 126 -126¼ 126¾'-126¾' 127%-127¾ 130 -180 .... - ... 123½-123¾
.... ... - •... . . - .. .... . . - .. ..
L. Shore-Dividend .. 7 123¾'-128)4124 - ~ 124¾-!25 ..•. - .... ... - .... 128 -123 121¾-121½ .... - .... 122¼-122¼ .... - .... 118:'4-118¼ ... - .. ..
1st con., coup ........ 7 126 -128 125¼-ll!i 127¼-128 126½-128 126¾-128¾ 126¼-120 125 -125¼ 124 -124 124 -125 126 -126½ 126¾-127½ 12tl½-120
1st con., reg ....... .. . 7 126~-126¾' 125)4-126 125 -127 124 -125 125¾-127 126¼-127 123¾-125½ 123¼-125 . ... - ... . 123¾-124½ 1i5 -128 125 -125¾
2d con., coup ......... 7 122¼-12S% 122¾-124 123,t-124 123¾-124¾ 124~-126½ 122½-123¾ 122½-1~8¼ 122¼-123% 122¼-128 122 -123¼ 123 -124 120 -122%
2d con., re,i ......... . 7 123 -123¼ 123 -123 123 -123¼ 128!,fi-124½ 124)4-124)4122¾-123¼ 128 -123 122½-123~ 122 -122½ 122½- 123½ 123%-124 1-20 -122½
Mo.boning Con.lltR .. l'i 103½-104¼ 103¼-104 104 -106 106 -106¼ .... - ..•. 105¼-106½ 105 -105 .... - ..... ... - ........ - ........ - .. ...... - .. ..
Lonir Isln.nd-lst ........ 712!¼-121¼ 121 -121 124 -124 .... - .... 120%-120¾ .... - .... 121½-122 .... - .... 125 - 125 . ... - ....... . - ... 118½ -120
1st, consol. ....... . ... I') 114)4-1147-( 113 -115 114½- 114Xi 118}1&-114 .... - .. .. . .. - .... 112½-118xt 113 -118 113 -114 112¾-112¾ 1121,-i-112¾ 110 - 112
N. Y. & M. B., 1st ... 7 110 -110 .... - .... .... - ..•..... - ........ - .... . .. - . . .... - ........ - •... .. .. - ........ - .... .. - ...... . - .. ..
Louhiv.&N.-Consol. .. 7 119 -120 120)4-121~ 120 -121 118 -119 !18 -118½ 118%-119½ 110 -110¾ .... - .... 119¼- 121¾ 118 -113 118 -121 118 -119¼
Cectlin.n Brancb ...... 7 111 -111 .... - .... 111 -111 111 -lll 111 -111 110 -11 0 100¼-109½ ....
.. .. - .... !103 - 104 105 -106 .... - .. ..
N. O. & Mob-lst ..... 6 105 -106 105 -105¼ 105 -1~ 106¼-110 109"-!18 112¼-118¾ 109 -110 108¼-1(10 100 -109¼ 10 ¼-100 109 -110 lO!l½- llO¾
~d ...................... .6 00¾- 03% 92 - 03 03 - 04¾ 04 - 90 087..-s- 09¼ UO¼- 00¼ 97 - 90 08 - 98 Oi¾- 977,il 06 - 07 PO - {16 0 - 9~
E. u. & Nn.sh.-lst ... 6 115 -115 115 -!15 116¾'-116¾ 115 -ni 117 -117~ .... - .... 112 -114¾ 112¼-112¾ ... - .... 1118 -115½ 115 -115 112 -112
Gen'l mort .............. 6 107 -108~.{ 107¼-108¾ 108¼-112 110½-112~ 118 -114½ 111 -11~ 109 -111¾ 109 -111 108 -110 109 · 110 112 -112½ 100½ -110
Penso.coin. Div ........ 6 102¾-102½ ...• - ••.. 100 -100 101 -104 . .. - ........ - .... 108 -103 104!1:(-104:'-( ....
.. .. 101½-101¼ .. .. - .... •. - .. ..
St. Louill Div., 1st .. 6 ... - ........ - ........ - ....... - ........ - ........ - ........ - ........ - .. .. 110 -110 .... - .... 108½-111 115 -115
St. Loul ■ Div.-2d ... 3 .... - ........ - ........ - .... 68 - 63
... - •.. . 59 - 59 .... - . .. . ... - .. . . 57 - 57 .... - ........ - . . . . .. . - .. ..
Nash. & Decatur...... 7 117 - 121 . ... - .... . ...
. .. ..... - ........ - . .•..•.. - •....... - ... . . ... - .... •· •· - • •·· • •·· - •·· .. • • - .... ll ll¾-119¾
So.& ~o. A la, -S.}" .. 6 ... . - ........ - ....... - ........ - .... ... - ....... - ........ - ........ - ........ - .... 105¾- lOo¾ 105=}.(-105¾ l05¼-105¾
Tru11t bond11 ............ 6 104½-107 106½-108 106 - 1.07¼ 107 -108¾ 108"-100 107 -107!1( 107½-~08 107¾-109 105¼- 107¼ 105¼-106¼ 105% -10&¼ lOfl¼- 108
' Qoypon
Pit,
·-'
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
64
BONDS.
RAJLROAD
188,-Continued.
JANUARY FEBR'RY.
APRIL.
MARCH.
MAY.
BONDS.
- - - - --~JUNE.
JULY.
AUGUST. 8EP1''BER OCTOBER. NOV'BER. DEC' BER.
-----
Low. High Low.Hi,zh Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.Higt..:
----
-~--
L oulsv. & N. (C ont'd).... - .. .. .... - ... 100 -100 100 -100
98 - 98¾ 98¾-100 108 -108 101¾ 101¾ 102 - 102 .... - .... . .... Ten-Fortv, 1924 ..... 8 98 - 98
94 - 95
94 - 95
95 -100 100 -101
97 - 98
94 - 96½ 98 - 95
90 - IJO
90 - 90
04 - 94
Pensa.c. & Atl.-111t .. 8 93 - 95 91½- 94
IJS½-100
.... - ... . 100¼-102 101¾- 101\14 .... 101 -101 10()¾-101
....
. ...
98%-100
~0-yr. llOld . ... . . .. ..... Ii ....
r.. ou. N.AJb.& C.-bt.6 100 -110½ 100¾-110½ 109½-110¾ 109 -111¾ lll!l:\(-115½ 114 -115 lll¾-113 110¾-112 109 -111 109 -111 110 -114 118 - 116
96½- 09
94 -06¼ 00 - 94¼ 00 - 93
90 - OS¾ 91 - 92"
Cow., gold, 1916 ...... 6 95¾- 96½ 95 - 96¾ 1!5¾- 97 03 - 97 957~- OS 97 - uo
... . - ... . .... - .... .... - .... .... ...
87½- 88 .... 84½- 84¾ 88 - 88 .... M o.n.B.Imp. Co.-Lim.1 .. - ... 92 - 92½ 80 - 90
~102
-102
102
100
101
105¼-107
105¾-107
-102
100
100
-100
-102¾ 103 -104
101
101
102¾-102¾
104¾-106
lOS¼-108¼
1llem.& Cho.s.-Gold ... 6
l\ letropo1ltan El.-lst .. 6 117 -lU> 118 -110 118 -110 118 -118¾ 118¾- 120½ 120 -120¾ 116 -117¼ 116 -1171,( 113 -115 114¾-115¾ 115 -118¾ 116 -118~
2d, 1899 ... .. .. .... .. ... 6 1097,rllOJ.li 110¾-111 110 -111¾ 11~ - 113 108 - 109 l08 -109 1077kl09 108 -108¼ 100 -108 ]08~-109½ 106¼-107¾ 104 -105
68 - 71¾ 66 - 70,Ai ... . - ... . . ... - .... €87/4- 68"A
60¾- (6'4 66¼- 71¾ 73 - 759' 68¾- 72
M ex. Cent.-N ew ass"t.4 · ·•• - .... 51 - 56!1( 59 - 69
.... .... - .... . .. - .. 21 - 28?t 23 - 25U 24¼- 27~4 20 - 26 2L¾- 22 19½- 21¼ .... .. 22¾-22¾ ... - ...
Income, 1911. .. . .... . 3 ...
130
-131
-128
128
128
-IZO
120
-130
-128¼
-128¾
126¾-129
127
127¾-129
126½ 128 127 -128¾ 124 -124¾ lN¾-127
130
1'lich. Cent-1at,consol . 1
.... - . ... 108!,(-109 108 -108¾ 105¾-100 108 -110
.... 112¼-112¼ JtO -110 108 -108 .... 1st, con,,sol . .. . ... . .. ... . li .... - .... .. .. - . .. . ....
- .... ... . - .... .... •... 120 -120 ·•·· - .... . .. .
1009 ............ . ..... 6 .... - .... 121¾-121½ .... - .. .. 121 - 121 .... - .. .. . ... - ....
Coupon, 1931. ......... li 109 -110¾ ... . - ... 107½-110 109¾-lOl>¼ 110 -110 108½-108% 108½-109 108½-1Cl9½ ... . - .... . ... - .... 106 -100 100 -110
108 -108 .. .. - .... . ... - . .. .... - .... ....
.. .. - .... .... - .... ... . .... 109!1:(-101)¾ .... ... . .. Registered, 1931. ... . li
.
.... . ... - ... 108¾-103¾ ... 104¾-104¾ . ... - .... . ...
J. L. & So.g., 1891 .. 6 106¾-106½ .... - ... . .... - .... .... - .... ....
M id. ot N.J.-ht ... .. .. . 6 112 -114 112 -112 112 -113¾ 110 -112¾ 113¼-115½ ll2 -113 112 -113½ 107 -111 100 -112 1( 7%~109 109¼-110¾ 109¾-111
M n. L. Sh. &W.- lst .. 6 llll¾-121¾ 118 - 120 ~20 -121 121 ' - 122 120½-121 119 -120 118 -118¼ 118 -110 111! -120 120¼-128 117,¼-lrn 120¼-121
.... ... 98¾- 99¾ 99%-104 102 . 102 101¾-101% ....
....
IJ4¼- l'4
06 - 95
05¾- 96
Conv. deb .. .. ........... li .... -Inco1ne . .. . ........ ... . .. 6 102 -102¾ 101¾-104¾ 104 -106 105¾-107 104 - 104¾ 102 -104 101¾-102 .... - . ... 100 -100~ 97 ~i02 .... - . ... 100 -mo
-116
116
115
-121
115
....
.
...
-115
-117
116
-1-17
117
114¾-114½
-116
116
.
...
117¾-118½
-116¾
-116¼
114
Michigan Div .......... 6 114
- .... .... - .... .... - .... 117 -118¾ 115½-116% 116 -116 115 -116 113 -114¼ 113 - 114¾ 116 -116 116¾-11
~bland Div., lat .... 6 115 -t15
MIT• & No.-lst, 1910 .6 104 -104 105 -105½ 108½-110 110 -110 110½-111 108 -110 107¾-109½ 107¾-lOl, 108¾-108¾ 109 -110 110 -111 106½-101½
1st, onexten., 1913 .. 6 101 -103 108 -105½ 105¾-107¾ 107 -110 109¾-110 106!1:(-107¾ )07 -107 106¾-100¾ 106 -107½ 106½-107 101 -107½ 104 -106
.. .. - ... . .... - .... .... - . .. . .... - ... . ... - . ...
... . - . .... M inneap. & Pac.- lst.li .... - .... .... - .... 101½-102 .... .... - .... 130 -130
188 -133 132 -132 · ••· - . .. . .... - . ... .... .... . .. . - . ... .... - ... .
M innenp.& St.L.-1st. 7 132 -133 ....
....
118¾-119 118 -118 ....
- .... 118 -113 115 -115 . ... - ... . . ... - . ... 100 -107¼
Iowa. Extenaion .. ... . 1 119 -120 .... - .... ....
·•·
·
100 -100 i. : . - .., . ....
101 -101 1(11 -101 . ...
100 -100 100 -100
.... .... .... .... - ...
!ld, 1891 . .. ........ . .... 1
.... - .. .. . ... - .... 108¼- 109 . ... .... .. .. ....
Paclflc Ext ..... . ........ 6 107 -108½ 110 -110 .... - ....
108 -]08 . ...
50 - 70
Imp. & equip., 1922.6 89¾- 90 86¾- 00
. 85 - 85 f9 - 89 .... - .... .. .. - ... . 81 - 81 .... . ... '70 - 70
...
.
....
103
104
-105
103
-103
103¾-103¾
...
.
...
.
101¾-102
Minn.&N o. W . - lst,g . . ~ .... 102¾-103¼
-105½
08¾-101 101 -101
. ... .ll1inn.S. Ste.M.& A .. . . Ii
.... - .... ..... ... . .... .... ... . - . ... ... - .. ..... - ... . OS - 03¾ . ... - .... .... - ... . .... ,,, ... .
OS - 97
01 - 05¾ 88 - 98¾ 78 - Ill¾ 76¾- 84
itlo.K.&T. - Gen. con .. 6 97 - 100½ 06½-100¾ 00 -101¾ 101 -102¾ 100¾-102¼ 05¾- 90
68¼= '71
79)4- 83¼ 77 - 81¾ 68 - 81
82½- 85
Gen. cont!lol. .... .. . .... . li 85 - 877Ai 83).(i- 88¾ 86 - 88 87¾- 89\14 88 - 89¾ SH\!- 87
66 - 73¼ 60 - 68
Cont!lol . . ......... . .... ... 1 112 - 113½ 109¾-110½ 109¾-111 111 - 112¾ 112 -113¼ 111 - 113¼ 113 -113½ 107¼-110 108 -110½ 105 -111 103 - 108½ 104¾-101
.... .... - .... .... .... .. .. ... . .... - .... .... - ... . . ... - .... .. .. - .... ... . - ... . . ... - .... 69 - 69 . - ...
~d, income ...... . . .. .. . 6 ....
109¾-109½ 110 -110 110 -110 106 -105 ... . - ... .. - . ... .... - . ... .... - . .. . .... - ... ....
.... ... - ...
Ho.n. & C. Dlo.-lst .. 1 ....
I)loblle & Ohio-New .. 6 lOll¾-110
108¼-109¾ 109¾-112 lll¾-114 112½-114 112 -113 113¾-113¾ 113¼:-114 lU -114 lll¾-113¾ 113 -114 105 -109
1st, exten., 192'1 ... .. . 6 106 -106 ... . - ... . 105 - 106 104½-104¾ 104 -105½ 107 -107 .... - . ... 106 -107¾ 108 -108 107 -107 107 -107¾ 105½-10,
50 - 55
47 - 50
45 - 45
597k 61
62 - 66¾ 61 - 66
50 - 54
1st pref. debenture .. . 1 60 - 65 60 - 66
42¾- 40
43 - 44
40 - 45
SO½- 32 .... - .. .. 2l¼- 22½ 23 - 27 ....
36 - 38¾ 33 - S"t½ 33 - 37
.... 28 - 23 18¼- 25¾ 22 - 24
~d pref. debenture .... 1 36 - 36
.... - . ... 28½- 28¼ 28 - 20 .. .. - .. .. .... - .... 20 - 20 20¾- 21 . ... 3d pref. debenture . ... '1 .... .
...
....
..
...
. - ....
.... .... .. .. - ... ... . - .. .. 25 - 28 .. .. . .. . .... . ... - •• · • ... . - . .. . .... 4th pref. debenture . .'1 ...
.. . - .... 13 - 13 12 - 12
73 - 78
73¾- 74 .... - .... .... - .... 73 - 73
74 - 'i 4
71¼- 72½ 72 - 72½ .. .. i--t. Louis & C., llUO.r.4 74 - 74 73 - 74
- .
M organ's L. & T .l~S - 123 124¾-124½ 121 -121
- .. .. .... - .... . ... - .... ... . - .... . ... 1st, 1018 ............ .. 1 ... .
... 121 -121
....
Bi¾- 80
85¾- 87 85 - 86¾ 85 - 86¼ b3 - 85½ 83 - 86½ 84¾- 80 84 - 85¾ 82½- 84
M utual Union T --S.F .6 84¾- 85¾ 84¾- 85½ 85 - 89
N'o.shv.C.& St.L.-lst. '1 120¾-130 130 - ISO 128½-130 129 -131 120 -131 .... - .... 127 -120 12;i¾-129 121> -126½ 125¾-120 128 -120½ 180 -180
2d, 1901 . .... ... ........ 6 109 -109 109¾- 1011¼ .. . - ... . 110 -110½ 110~-110¾ llQ¾-111 108 -108 107¾-107¾ .... .... - .... 107¾-107¾ 107 -107
N ewJ. Junc.-lst ..... . 4 .... - .... .. .. - .. .. 102¾-102¾ . ... - .... .... - .... 104 -104 .... - . .. . . ... - . ... .... - . .. 100 -100 ]04½-104½ 105 - 105 ,
9ll
- 98
98 - 98 100 -100 100 -101½ 101¾-101¾ 101¾-102¼ 07¾- 97½ .... - .... . ... - . ... .... - . ......
New J. South.-Guo.r .. 6
.... . ... - ...
N.O.Pac.-lst, tr. rec .. 6 78¾- 63¾ 75¼- 86
80¾- 84¾ 88¼- 85¾ 85 - ~ 88 - 85¾ 81 - 83½ 77¾- 82
75 - 77½ 74¾- 77
60¾- 80½ 70 - 75
N'.Y. Central-Ext ... ... ~ tCJv~· -106¾ 106 - 106½ 106 -106¾ 106%-107¾ 104¾-104¾ 104¾-104¾ 104¾-105 108 -103 103¼-104¾ 104!)(-105¾ 108¾-104 1037,i-104
. .. 101¾-102¼ 102¾-102¼ 103 -103¼ 100¾-103¾ 100¾-100¾ ...
1881 . .......... ..... . .... 6 10114-101½ ....
.... .. - .... 101¾-102¼ 102¾-102¾ 103 -103
N.Y. C.& H.-lst,cp . . '1 183¾-134~ 134¾-134¾ 133¾-136 l!JO -136¾ 135¾-137 135¾-136¾ 134½-135¾ 131¼-133 130¾-133 182 -133 133 -137½ 136¾-13
134r~
.. .. .... 133 -135½ 135 -135 135¾-136¾ .... - .. . 134 -185 131 -133 132 -132 lSllJ,(-133 135 -136 136 -136
lst,-..eg .......... ...... '1 133
, Debenture .. .. .... .. .. ti 108¾-109¾ 109¾-109¾ 106 -107¾ 107 -108 108 -100¼ 108¾-110§8 109¼-110¼ ll0¼-110½ 106 -107¾ 107 -108 108 -108½ 108¾-100
Registered ........ . li 110 -110 109¾-109X 106 - 107¾ 107 - 107¾ 108 - 108
- .. . .... - ... . 108 -110 .. .. - . .. . .... - . 107¾-107¾ 108¾-100
Can. So.-1st, llUO.r ... .Ii 105¼-106 104¾-10~ 105 -107 106 -107 106¾-108¾ 108¾- 100 104¾-106 104§8-105¼ 104 -106 104 -106 104¼-106¼ 105¾-107
OS¾- 95½ 03 - 95
2dmort. ....... .
91¼- 02¾ 91¾- 02¾ 02 - 94½ 92¾"- 94.½ 92 - 94¼ 02 - 93¾ 87¾- 01
90%- 93
01 - 92
89 - 91
. ... - . ... .... - . ... . ... - . ... ... . - .... .... - .... ... - ... . ... - . ..
2d mort., reg . ... ... ;l 92 - ll2
.... 00½- 01½ .. .. - .... .... Uo.r1em-111t, coup .... 7 '1s2 -183 131¾-133 132¾-132¾ 181 -133½ 129¾-130½ lSOl,s-130½ 130 - 180½ .... - .... .... - ... 181 -131 129 - 129 120¾-129
.. - ·•• · 131½-1327,s 182 -132¾ 132 -182¾ 128½-130¾ 180~-180¾ 131 -131 lSv -180 130½-130½ 127¾-130 129 -129 129¾-180
lat, reg ... ... . .. .. . ..
lS • l".Chic.&St.L.- lst .6 90 - 97
lir> - 98
97¼- 07½ ...
.... ... . ... .... .... .... .. .. .... .... - .... .. - .... .... - . ... .... - .
1st trust receipta .. .. 6 85 - 97¾ 94¾- 99¾ 97 - 97¾ .... - .... .... - .... .
- ..... .. - ... . . - .... ..... - ... ... . ... . .. ..
... - .
Assented ... ............. .. .. - .... . ... - .... 96¾- 97!'-( 96%- 99 9~-101½ 99 -101¾ 97 -100~ 96¾- 98¾ 94¾- 99½ 07 -100¾ 99¼-100¼ .... - .
90 - 07
~dmort ............ .... .. 6 70 - 98
96 - 97¼ 99 - 99
95 - ll5
98 - 98 .... - ....
- .... ... . - .... ... .
. ... - . .. . .... .
New, 1st, 193'1 . ..... 4 .... - .... .... - ... . ... . - .... .... - .... . ... - .... .... - . .. .. .. - .... .... - . ... ... - .... ... .
.... 84¾- 87¾ 84¾- 86¾
69 - 71
69¾- 72
74 - 74
78 - 713½ .... - ••·· .... - . ... .... - .... .... - . ... ....
. Y.City & No.- Gen'l.6 65¾- 66
. .. . .... ... . .. . - ..
'I rust Co. receipts .... 6 €5½- 69¾ 67½- 73¾ 69½- 72¼ 72 - 80
76 - 79¾ 78¼- 78¼ 68 - 72¼ 62 - 70
58 - 68
59¾- 62¼ 62 - 64 .... - ...
Assented ... .. .... .... ... .
- ... .. - .... .... .. .. ... . - .. .. .... - .... · •·· - ... . IIB½- 71¾ 63 - 68 .... - ... .. .. - . ... . .... .... . ..
'• Y. Elevated- l11t . .... '1 121¼-123 121¾-128 121¼- 122¾ 122½-123 121~-1223-,i 121¾-122¼ 117 -119¾ 117¼-119 116¾-119¾ 117½-119 1177k110½ 118½-120
'. Y .N .H.&H.-lst,rg.4 112 -112 ....
.... - .... 100 -112 .... . .. . 110¾-11~ 111 - 111 ....
.... - . .. .. .. - .... .. .
.... - .
.... .... - ... .... - ... .... - ....
. Y. & North.- 1st, ll -i> .. ..
.... - .... .... .... .... - .... .... .... - ... .... . ... 101 - 102
' .Y.On.&W.- lst, g .. 6 107 - 110 110 -110% 107 -107½ 107,¼-109 108¾-109¼ 109 -110¾ 109 -110 108 -109 106 -109 106 -108 107¾- 109 108¾- 109
·. Y. Susq.&W.-lst ... 6 ..91¾- 92¼ +92 - 95 *93~- 94 .... - . ... .... - .... .... .:.
... - ... . ... - .... ... - .... .... - .... .. .. - .... .... - .. .
Debenture, 1891 ...... 6 *71 - 71¾ *69 - 69 •70 - 70 *77 - 77
... - .... .... - .... .... . ... .... - .... .... - ... . ....
.... - .... . ... - .
1st refund .. . . ... . .... .. Ii .... - .. .. .... - .... 91 - 93
91¾- 94¾ 04 - 96¼ 93¾- 95¾ 92 - 98
90¼- 02
90½- 92 87 - 90 90 - 92¾ 01 - 02
.... .. .. ... . .... - ... . .... ~dmort., 193'1 . .. , .4½ ....
.... .... 78 - 73 70 - 70 . ... - ... .... - . ... .... ••· · 75 - 75 78 - 73;!,,
... . .... .... 40 - 40 45 - 45 87¾- 40 37¼- 87¾ .... - ·•• · 45 - 45 50 - 50 50 - 50 .... N • V.& Tex. Land-Scrip ....
.
~'. Y. Wood&R.- 2d inc. ....
... .... - .... ....
10 - 10
... .... .... - .... ... . - .... .... - .... .... - .... .... ....
- .... .... - .
N o. West. Tel.- 1994.1 .... 104 -104
....
... - .... 107 -107 .... - . ... .... - ·•· · .... - . ... .... - . ... . ... - .... .... - . ... .... ...
so.-f.& Weat.-Gen. M .6 112 -118½ 118 -113 112 -112),( 113 -114¾ 111 -112½ 115¾-116 .... - .... 114 -114 .... - .... 110 - 110 111 -111 lll¾-111
New River-lat ....... 6 114¾-114½ l:!.4¾-114¾ .....
.. 118 -113 .. . - .... .... - ....
.... - . .... - .
.. - ....... - .... 110 -llOr
Imp. & ext., 1934 .... 6 102 -102 ... - .... ... . - .... 99 -100 100¼-100½ .. ..
....
- .... .... - .... .... - . ... .... - .... .... . ... .. - . ..
Adi. mort., 1924 . . ... '1 106¾-106¾
...
.
....
....
- ....
- .... 106½-106¼ .. .. - ... . .... - . .... - .... 108 -103 . .. . - . ..
.... 102 -104
0 hio Cent.-Incomes .... ....
.... 1¾- 4 ....
... 2½- 8 .... - ... . .... - .... .... - .... .... - . ... .. .. - .... .... - .... .... -- ... . .... - .
0 &°• & L. C.-lst,con ... 6 ....
.... .... ... ....
100 - 100 ....
.... . .. . - ....
... ··••,
.
...
.
...
.
....
...
.... 0 hio & Misa. Con.s. t .. 7 118¾-118~ 118 -118 118 -118½ 118xi-119¾ 1!8½-118¾ 118½-119 116½-117¾ 116 -116 .. .. - . ... 114¼-115 .
.... 117 -118
Conaol. . ... .. ..... .. .. . ... 1 118¾-119¼ 118 -118 117¾-118¾ .... - . ... 117¾-118½ 117½-118½ 115 -116 114¾-115 115 -116 114 -115¾ 115¾-116¾ .... 2d, consol .. ·········•• ·1 118 -119 .... - . ... 119 -119 .... - . ... 117 -117½ 117 -117 114 -116 114 -114 113 -114 111¾-115 112 -112 11$¾-114
ht, Sprlnarf. Div .... .. 1 109 -111 110 -111~ l1()¾-111~ 110¾-112¼ .... - .... .. .. - . .... .. .. .... - . ... ... . .. . 107¾-107!,C . ... - ... . 106¼-10
Gen.mort., 1932 .
~ ....
.. . , ... - .... .... - .... · •· - .... ... - .... .... .... ..... - · •• · .... 87¾- 87¼
.... ... - .. ....
0 hio River _l tR.-lst . . ~ ....
... .... .... .. .. ... , 100 - 100½ ....
... 99¼- 100 00¾- 99¾ ... . - .... 95¼- 95½ 96¾- 96¾ 97 - 98 .... ...
0 blo :Southel .n-lt!lt .... 6 108 -1~ 102 -105 1~-lOIJlJ,( 109 -111½ 111 -111½ 108 -108 104 -105 102 -102 102 -105 104 -105 106 -107 100 -102
:ld, incomc ........... ... 6 40 - 4.¼ 41 - 44 4J - 45¾ 42¾- 47 42¾- 50¾ 40 - 46
31 - 37
85 - 42
35 - 40
33¼- 36 31¼- 87 29¾- 33
0 ma.ha& St. L.-lst .. 4 ....
.... .... - .... .. .. - ... . .... - . . ... .... 80 - 81¾ 79 - 80 76¼- 79 70 - 77¾ 75 77¾ 77 - 78~ 76¾0 •·• lt'y. & Nav.-lst ... 6 108 -109,ii 109 -110 109½-110½ 110 -110¼ 110 -112 111 -112 100 -109¾ 109¼-lll¾ lOIJ¾-109¾ 109 -111 110¼-111 110¼-ll
Oebena urea, 1881 . : .. 7 .... - . .. . 102¾-102¾ .... ·- .... .... - ..
.... - .. .. ... . - .... .. - . . .. .. - . ... ... . - .... ... - .... .... Consol., 192.l .... ..... .; !04 -106 l~½-104x 103¾-105 104¾-105¼ 106 -105;¼ 100¼-102¾ 101 - 101~ 99 -101
90 -101¼ 99 -100
99½-101½ 96¾- 97
0 •·ea. Imp. Co.- lst .... 6 02¼- 94¾ 9~ - 93
91¾, 9814 il4 - 97¼ ~ -102% 97 - 99
96 • 08
02¾- 96
89 - 97
90 - 00
93¼- 90
98¾- \15
4)regou Tro.ns.- lst ... 6 101 -lu2½ 100 -102 100 -101 101¼-104¾ 100 -102
G8 -101¾ 98}1!-,lOOJ.4 96 -100
90 - 98¼ Ol,
\11 - 94
89'¼- 98
- .... .... -
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
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ll.AILBO.AlJ JJON~S.
1887-Conti-n oed.
BO DS.
JANUARY FEBR'RY,
MAROB.
APRIL.
MAY.
JUNE,
JULY.
AUGUST. SEPT'BER. OCTOBER. NOV'DER. DEO' BZB.
- - - - - - - - - - - Low.High Low.High- Low.High Low.Hlgb Low.High Low.High Low.High Low.High Low.HighlLow.High Low.High Low.High
Pacific Rnih·oadsOent. Pac.,&",, 1895 .. 6
Gold, 1806 .......... 6
Gold, 189'7 ........... 6
Gold, 1898 .. ......... 6
San Joaquin Br ..... 6
C
...,
115¼-115½ 114!J.(-114!':( 114 -115 115¾-115½ 115¼-116
.... - ...... .. - ...... - .. .. 116¾-117 11~-1!7 117¾-118 1!4½-115 115¾-115¾ 114}2-114-¾ 114~-116 115¼;-115¼ 116 -116
.... - ........ - ........ - .... !16J,t-117 ]1{!'7,-t-117~ 117¾-118 114~- 115 .... - .... 114½-115 116 -116 U5½-115¾ 110 -11~
114 -11~ 113¾-114¾ 114 -118¾ 116~-116¾ 117 - 117¾ 117¾-118 114¾-116 115¾-116~ 114 -115½ 11~-116 115¾-116 110 -117
112 -112 lll½-112 115¾-115¼ 118 -118¼ .... - ... 114¼-116 114½-116 116 -116 .... - ........ - ,. .. 114 -114 11-l -115
Cnl. & Ore.ion .... .•. 6 101 -101 10::. -101 101 -101 102 -102½ 108 -108
... - ... 100¾-100½ 100 -101 100¾-100½ 101¾-101¾ 101½-lnl½ 102%-102¾
Se1•ies B .. ...... .... 6 .... - ... 188 -1~ .... - ........ - .... .. - .. .. 106 -106 104 -104 .... - .. .. . .. - ... . .... - ........ - .... . .. - ... .
Lnnd Krauts .......... 6 102½-103¾ 108 -103¾ 104¾-105 102 -108,xi 10~-108'4 .... - .... 100 -103 104 -105 105 -105 .... - .. . 101)4-102~ lOl¾-102
Mo1·t. bonds, 1936.6 . ... - .. .. .... - ........ - ........ - .. . ..... - ...... ., - ........ - .... 101¾-102% 1027.,/4-103¾ 101 102 ¾ 102½-lOS¼ 102 - 108¼
Western Pac ......... 8 111 -112 118 -112 114. -USM .... - .. .. .... - ........ - ... ..... - ., .. .... - .... 114 -114 112 -112¼ 112 -112½ 112 ~112¾
No1·tb., Cal., anar. 6 120 -120 .... - .... ..
.. ...... - ........ - ........ - ........ - ........ - ....... - .... 118¾-118¾ 117½-117¾ .... - ....
No.Pac.-Gen.lst, l,ir 6 115¾-116¾ 1111 -117 116¾-117¾ 117 -118¾ 117~-118~ 117¼-118¼ 114%-115½ 114¾-115½ 113)4-115¾ 114 -116 115¼-117 116 -118¾
Gen. 1st, I, g,, 1·ea- .. 6 .... - .... ., . - ........ - ........ - .... 117¾-117½ 118 -118 114½-114¾ 114 -114 114 - 114 114 -114 116 -116½ .... - ...
Gen., I. g ,,2d,1 933 .. 6 108'¼-107¼ 104,¾-10~ 106~-107¼ 104¾-105¾ 105 -1015¾ lOf.¾-105 105 - 105½ 103½-10~ 101¾-105
00¼'-101
99 -101 100¾-102
Dividend scrip ............ - .. . . ... - ... .. ... - ........ - .... .... - ........ - .... . ... - .... 101 -101 101 -101
99 -100 ... . - ... . 108¼-105!1,(
St, Paul & No . Pac.6 . ... - ........ - .... 118 -116 118'(-119 118¾-119¾ 119¾-11~.i llS¼-119¾ 115 -116% .... - .... 116~-116¼ 116¾-117 117¾-118
James R,Val .-lst.6 !06½-1071,t 106¼ 109¾ .... - ........ - .... 110½-lll .... - ........ - ....... - ........ - ........ - ........ - ........ - ....
Spok. & Pal ., S.F •. 6 .... - .... 106¾-l~ ... - ........ - .... 105 - 105 .. .. - ........ - ........ - ........ - ........ - ........ - . , .. 101 -108
Dul. & lllan.-lst ... 6 .... - .... .. - ........ - ........ - . ... . .. - . .. .. .. - ........ - . . .. 99 - 99½ .... - ........ - ....... . - . ... 103 -108
No. Pac.Ter,Co.-lst6104 -105 1°' -105 104¾-105½ 105 -105½ 105~-106½ 105¼-107¼ 100 -103¼ 101 -102 101¼-102½ 101 -102½ 101½-102½ 104¼-104¾
So. Pac. Cal-1st ..... 6 lll¼-112¾ 110¾-lll'U 112¾-112U 111 -112½ 112½-113½ 113¾-113¼ 118 -115 118 -114¾ 112½-112¼ 108¼-109½ 108¾-110 110 -110¼
So.Pac.Arizona-1st6 ... . - .... 110 -110 .... - .... 112 -11~ .... - ........ - ........ - ....... - .... ..
- ........ - .... .... - ....... - .. ..
So. Pac. N.lllcx.-lst 6105¾-106!.,t 105¼-1~ 106¾-1~ 1~-106½ 108¾-109 109¼-110 107¾-108 .... - ... .... . - .. .. 108 -108¼ 108¾-108¾ 109 -109~
UnlonPac.-lst1896.6 .... - ........ - ........ - .... 118 -117 110 - 116¾ 116¼-117 113¼-114~ 114~-115¼ 112½-115 114¾-115 114¼-116 115 -110¾
1st, 189'7 ............. 6 ... - ........ - ........ - .... 116 -117½ 116¼-117 117 -117¾ 114¾-115¾ 114¾-115½ 114 -114¾ 114%-115 115 -115½ 115 -116%
1st, 1898 ...... ....... 6 .... - .. .. .. - ........ - .... 116¾-117½ 116½-117;( 117 -118 114¼-115¾ 115 -116¼ 114 -116 115¼-ll~ 114½-116% 11~117¾
1st, 1899 ............. 6 114 -115 114¼-115¼ 115 -119'4 117½-119 118 -118 118 -118~ 1111 -115¾ 116¼-116½ 115 -117 116¼-117 116¼-117 116 -118¼
Land granta .. . ....... '7 102 -102:k; .... - ....... - .. . .... - .... 108½- 103½ .. .. - . . .. .... - ...... - ....... - ........ - .... .... - .... . .. . - .. .
Sinking iuud ...... ... 8 118~-118¼ 118¼-120 115 -115¾ 115¼-117 116 - 116¾ 115 -116½ 114 -11~ 114¼-116½ 110 -111¼ 110 -11131 lll¼-113;J( 113½-116¾
Re.iistered .......... 8 .... - ... .. .. - ........ - ........ - .... 115½-115½ 115 -115 114¼-114¾ .. .. - ........ - .... 109 - 110 110 -118 .... - .. ..
Collat. T1·ust ........ 6 103½-103½ .... - ........ - ..... •.. - ........ - ........ - ........ - •.•. 106 -106 105 -l0l5 .... - ... .... - ....... - ... .
Collat. Trust ..... . -~ .... - .... . ... - ... . 100!>(-101 101 - 102 .... - ........ - •••• 106 -lM¼ .... - .... . ... - .. . 95 - 95 .... - .. .. 95 - 95
K. Pac.-lst, 1S9ii.6 112¼-114¾ lll¼-111½ 112 -114½ 113 -113¼ 113¾-lllS 113 -114}( .... - . ... 110 -110 109½ 109½ 110 -110½ 111 -111 llO;J(-112
• 1st, 1 96 ....... .... 6 lll½-112 112 -11 2 113½-115 114 - 114½ 115 - 115 112 -112 lll~-111¼ 110 -no 108½-110 . ... - .. . 111~112 10~-1111'
DenY. Div.-Ass'd 6 114 -115 115 - 115 116½-116~, 117 - 117)4 115 - 115 114 -114 115½-116 116 -116 116 -116 116 -116 118 -114 .. .. - . •••
J
1st, consol.... .. . . 6 105%-107 105 -106¼ 104¼-107 10'7 - 199 102¾-105¼ 103 - 103!'4 104 -104¾ 102 -104 101 - 103 100 -102 W -101½ 10~-102
Cont. Ilr. U . P ...... '7 105 -105 .... - .. . . . .. - .... .... - ........ - ........ - ....... - ... . 108 -108 103 -107 .... - .. . . .. - ........ - ....
At.Col.& Pac.-lst.6 1C6¼-107 105¼-106 105 -106 106 -106¾ 106 -106 108 -110¼ 108 -108 102¾-106 104 -104% 104 - 104¼ L02¾-108 104 -106
At.J.C.&W.-lst,6 .... - ........ - ... ..... - ... . 106 -100 ::.05½-105½ ,. .. - . .. .
- ........ - ........ - .... ,. •• - ... . . . . - ... . 102½-102~
Oreg .Sh,Line-lst .. 6 106¼-107½ 102 -103¾ 101 -103 102%-105½ 100 -108% 1(12 • 103 102 -103
97½-100¾ 97¼-100
95 -100
97¾-100
99¼-10~
Utah South.-Gen .. 7 .. .. - ........ - ... . 86½- 90 90 - 93
90 - 92
92 - 98¼ 92½- 92¼ 02½- 96
93 - 95
92½- 94
g4, - 94. .... - ....
Ext'n, 1st, 1909 ... 7 83 - 85¼ 85 - 86¾ f6 - 89¾ 87¾- 02
88 - 92H 91 - 98
90 - IH
91 - 95 .... - ........ - .. . . 91 - 91
91 - 92¼
Mo. Pn.c.-lst cons .... 6 114¼-1101,/4114¾-116 114¼-116½ 117½-119 115 -116½ 116 -117 . 116 -117¼ 114¼-115¾ 113 ' lt5 112 -114½ 109¼-111¼ 109 -111
3d, 1906 ... ......... 7 122 -123¾ 12$½-124 125 - 125 126 -126 122 -::.28 121 -122½ 122 -123 .... - .... 119 -119 110 -120 115 -116 115 -119
Pac. ot ll1o,-1st ..... ti 104½-105 102 -102¼ 102½-102½ 102¾-103 102¾-103½ 108½-108¾ 103~-103% 100¼-100½ 100½-101 100%-101¾ 101¾-102¾ 102 -102¾
2d, 1891 ............ '7109 - 110 108¾-109 108½-108½ 110 -110 .... - .... 110¼-110½ 105½-106 ... . - ........ - ........ - ........ - .... 107¼-108
St.L,&S.F.-2d,cl.A6115½-115¼ .... - ........ - ........ - .. .. .... - ........ - .... 113 -113 . ... - .... 109 -109 . ... - .... 112¼-llS 113 -113
Class "C" ........ .... 6 114¾-116¼i1l5¼-115¼ 115 -116½ 117 -117¼ 118¼-114~ 113½-114½ 113 -113 118 -114 112 -US 112¼-113½ 110½-112¾ 112 -118!J4
Cla11s "B" ............ 6114½-116½ ·116½-116¾ 115 -116 116½-117 114 -114 114 -114 113 -113 113½-118½ 112 -113 .... - .... 110¾- llS 112 -114
P. C. & O.-1st ..... . 6 .... - .. .. 117 -117 117 - 117 ... . - .... 118 -118 .... - ....... - ... ... .. - ........ - ........ - .... .... - ....... - ...
Equipment ........... '7 ... . - ..... ... .... - . .
- . ... .... - .. . .
- ... ..... - . .. .. .. - .... 107 -107 107 - 108 .... - .... 105 -105
General mort ........ fi 109¼-lll 108½-110)4 110 - 111~ 111¼-113 118 -115 114 -115 111¾-llS¼ 118 -114 ll~½-113½ 113 -114¼ 113¾-114 114½-1111
General mort ........ 5 .... - .... . .. - ........ - . .. 90¾-lOl¾ 100)4-101¾ 100¼-101¼ 08¼- 99¾ gg -101
87¼-100¾ 99¾-101¼ 100 -101 100¾-102
So.Pac.ofMo.-bt .... 6 lOl¼-104½ 101½-101,C 102 -102½ 102 -102¼ 102½-108¾ 103¼-104 100 -100¾ 100)4-100½ 100¾-101¼ 101¼-101¼ 101¼-102½ 102½-103
St.L.K.&S,W.-lst .... - .... 107¾-109 .... - ........ - ........ - ........ - ........ - .. ...... - ....... - ........ - ........ - ........ - .. ..
Texas & Pac.-lst ... 6 l06 -106 112½-112½ .... - ........ - .... 109 -109 .... - ... ... .. - .... 107 -107 .... - . .. .. .. - ... .. ... - ... . .... - ... .
Consol. Tr. r'c'pts .6 97¾- 99
99½-102½ 99 -102¾ 100 -103¼ 102¼-103!)4 102 -163 101 -102½ 99½-100 100 -100½ 96 - 97
97 - 97 100 -100
Inc.&land i,rr.,reir.? 61¾- 62
61 - til
68¾- 64
68'4- 68¾ .•.. - ........ - ........ - ........ - ........ - ... . .... - ...... .. - ........ - ..
Trust receipts . . . . . . 59~- 64 58½- 66½ 61 - 65¾ 62 - 04
62 - 63¾ ES¾- 62
50 - 58
47 - 53¼ 43 - 53½ 44¼- 49
44 - 52
45 - 49¾
lst,RioGr.D,tr.rec.6 67~- 7!¾ 64 - 75¼ 71 - 75
74 - 77" 76%- 78½ 74 - 78¾ 71¾· 75½ 67¼- 72
68 - 71
50½- 64¾ 64½- 68½ 64½- 07
Gen,M.&Tor,tr.rc.6 67 - 69¼ 118 - 69
65 - 69
68 - 72
71 - 71¾ 70¼- 71½ .... - .... 62¼- 6~ 56 - 62
56 - 62
60½- 62 .... - ....
Pennsylvania RR.Penn. Co,-lst, cp .. .4½
Re1.ristered ....... .. 4½
Pitts.C .& St.L.-lst '7
Pitts.Ft,W.&C,-lst.,2d,, 1912 .. ......... ?
3d,, 1912 ............. 7
Clev.& P.-Cons.s.fd,7
.J 4th, 1S92 ..... ...... .. 6
St.L.V.&T.H.-lst.7
Peo, Dec.& Ev,- lst .... 6
2d, 192'7 . . . .. ........... 5
.... - ... .. .. - ........ - .... 115¾-lllJU 117 -117¼ 117¼-117¼ 114¾-115
104 -106 104)4-105¾ 104¾-105½ 105¼-106¾ 106¼-107¼ 107 -lO'i¾ 103¾-105 104 -104 103½-104 104 -105¾ 105¾-106½ 106¼-107¾
108¾-104¾ 104 -105 105 -105 .... - ........ - .. . 107¾-107½ 108 -lOH½ 104 -104¼ .... - .. .. 104 - 10'1 104½-104½ 104 -106
.... - ...... - ....... - ........ - ....... - .... .... - ........ - .... .... - ....... . - ........ - ... Ll6 - 118 .... - .. ..
188 -141 140½-140½ 141 -141 ffl -141 141 -141 142 -143 189 -141 140 -140¾ 141 -141 140 -141¾ 142 -142 141 -141
187 - 138½ l40½-141 139)4-189¼ 1~139)4 189 -180¼ 141 -141 187½-189 187¾-138 .... - ........ - .... 138½-l:39¾ 139 -140
136 -138¾ 138¼-139 189 -189 185 -136¾ .... - .... 185¼-185¼ 185 -185 . ... - ........ - . ... ... - .... · ... - ... · .. . - · ·
128 -128 129 -129 129¼-130)4 129½-129½ 127 - 127 128 -129 128¾-129 .. .. - .... 127 -128 128 - 128 127¾- 127!'4 127 -127
.... - ....... - .... 107 -107 107 -109½ .... - .... 108¼-108½ 1Q6¾-lcm4 .... - .... 107 -107 106¾-106!'4 107 -107½ 108 -109
.... - .... 118 -118 .... - ....... - ........ - .... 118 -119 112 -112 .... - .... 116 -116 .. .. - .... .... - .... .. - ....
114 -114 118 -113 110 - !12¾ .... - .... lll!J(-114 115¼-115½ 118½-118¼ t:r8 -113½ 110 -112 113 -113 109 -112 109),€-109¼
... - ........ - ........ - .... 87¾- 87¼ 85 - 87
85 - 87~ 8S'J1i- 86
76¼- 80
70 - 79½ 71 - 77
73 - 78
70 - 71
Incon1e ................. . 6 81¼- 85
82 - 85
83 - 85
87 - 87 .... - ........ - ........ - . .. . .. - ........ - ........ - ... . .. · • - .. • • .... Evansv. Div .... ..... .. ti 110 -110¼ 110 -!12 108 -109 110 -110 111 - 112 110 -112 lll¾-111¼ ... - .... 1()6'U-106¾ 105¼-105¼ .... - .... 101 -108
Evansv. Div,-Inc .... 6 ?ll½- 84¾ 81M- 85 84 - 86
87½- 87¾ 86 - 86
... - .... ... - . .. , .. . - ........ - ........ - ........ - .. · · · ... - .. .
Peo1·ia&Pek.Un.-lst. 6 112¼-112¼ .... - ........ - .... 1}2¼-118 .... - .... . .. - ... . ... - ... . 108 -108~ 108 -108
... - ........ - ........ - .. ..
2d ... ... .. .......... .. .. .4½ 72 - 75 .. .. - .. . .. .. - .. .. .. .. - .... , .. . - .. .. .. - .. .. 75 - 75
78¼- 78¼ . .. . - .. .. .. . - .. . .. · - .. · · · .. · - .. ·
Phil. & Read.-~d ser. ~ .... - ........ - ........ - ........ - ...... .. - ....... - .... .. - . .. 6J - 68
... - ... . 62 - 62¼ 67½- 'iO .... - .. ..
Income mort., '96 .... '7 .... - .... ..
- ... ... - .... .... - ....... - ........ - ........ - . . . 64 - 73 68¼- 75½ 70 - 75¾ 78½- 85¾ 82¼- 82¼
Gen. mort., coup . .. .. 6 .. .. - .... 104½-104½ . ., - ........ - ........ - ........ - . ....... - . .. .. .. - ... ..... - . .. . .. . - ... . 109)4-109¾ 100½-109¼
Defe1·1•ed income ........... - ........ - ........ - ........ - ........ - ........ - ........ - . . . . . .. - ...... .. - .. .. 20 - 20
21¼- 25 .... - ... .
Pittsb. CI. & Tol.-lst.6 .... - .... 112 -112 115 -115¼ 118 -114 .... - ........ - . ....... - .... 114½-114½ 114 - 114 100 -105 107 - 107 108½-108¼
Pitts.Brad.&Bnf.lst.6 .. .. - .... . ... - . .... . . - .... 88 - 89 ., .. - ....... - ........ - ... . .... - ........ - ........ - ... . .... - ........ - .. ..
Rich. & All.-Tr. rec •• 7 66 - 71½ 67 - 7~ 68¾- 72
71~- 77
75¼- 77
66 - 76;4 65 - 72
60 - 66¼ 56 - 65¾ 55¾- 60
57 - 61
57 - 58¾
Rich. & Danv.--Cons .. 6 118 -118½ 118 -118½ 111¼-118 113 -113% 114 -114" 114-¾-115 110½-112 lll¼-112¾ 100 -110½ 110 -115 112 -115 110 -112
Debenture ............. . 6 10? -107 106 -106½ 106 -118¼ 112 -114 118 -114 .... - ........ - ....... - .... .... - ........ - ........ :. ........ - .. ..
Deb. ex. cp .. .. ............. - ........ - ........ - ...... .. - .... 9S½- 94!1:d ..... - ........ - . ....... - ........ - ........ - ... . .. - .... .... - ... .
Deb. as ented ....... . .... - .... 106 -107¼ 106 - 110 108 -110 .... - ........ - ...... .. - ........ - ........ - ........ - ... .. . . - ....... - .. ..
Con. M., a-old, 1936.6 ... - ........ - ........ - .... 92 - 98
91 - 92½ .... - ........ - ........ - ........ - ....... . - ... . · ... - .... · .. · - .. ..
h.ich,&WestPt.Ter.6
- ....... - ........ - ....... . - .... 95 - 08¼ 08 - 08 96 - 96¼ 85%- 87½ 78 - 87 82½- 84
84 - 89½ 85 - 89
Roell. & l~ittsb.-lst ... 6 .... - .... 114 -114 117 -120 120 -120 .. .. - .... 120 -120 120 -120 117 - 117 .... - .... ... - .... 115¾-117 117 -11~
Consol., 1st ........... . 6 108 -108 .... - ........ - .... 117 -117 116 -115 .... - .. ...... - .... 113½-113½ .... - . .. 113 -114¼ 114½-115 112 -112
Rome W. & Og.-lst ... 7 110 -110}-e .... - .... . .. - .... 111 - lll 112¾-112½ 108~..:109 .. . . - .... .. .. - . ....... - ........ - .. 107¼-109 100 - 106
Con., 1st, ex ..... .... .. a 102¼-lOS'!rt 102 - 103 102¾-104¾ 101~-102¾ 102 -10~ 100½-102 101 -101¾ 100¼-102 101~-108¼ 98 -100 100¾-103 lCl½-102~
Income ............... .. .. 7 102 -107 .... - .... .... - ........ - ........ - ........ - .... _... - .... . ... - .... .. .. - ........ - .. .. .. .. - .. • • .. • - • • ..
St. J os.&G'd Isl.-lst.6 lOOM-107½ 106 -107½ 105¾-107¾ 107~-108½ 104 - 105¾ 108¾-104% 102)4-104 00 - 102 97 -100¼ 92 - 98 95 - 98¼ 97½- ll8}(
2d, income . ., ....... .. .. 5 7~- 78¼ 72 - 72 70 - 70 ';"0 - 75 70~- 7!¼ 70 - 72 65 - 65 tl5 - 65 .... - .. • .... - .. .. .. - .. · · · .. · - • .. •
St. L. Alt.& T.H,.:_lst.7 114 -114 114 -ll4 .. .. - ... . 115 -115 .... - .... 116 -116
. , - .... 113 -118 118 -113 .... - .... 113 -113 .... - ....
2d, _vref ... ,,.: ............ '7 .... - .... 110 - lll ll0¼-112)4 111 -111 112 -112 112¾-112¾ 112¼-11~ .. . - .... 107 -108 109¾-109½ 108 -101}¾ 108 -108¼
2d, mcome ..... ......... '7 107¾-108 107 -107 107~-107½ 107¾-107½ 105 -106 105 -105 107 -107 .... - .... 107 -107 105 - 105¾ 103 103¼· .... - ... .
> Dividend bonds ..... .. 6 35 - 38 .. .. - . .. . 8': - 85 .. .. 85 - 47½ 48 - 48
40 - 45
40 - 42 • .. . - .. .. 88 - 37
88 - 42
40 - 41¼
Bell. & So. lll,-1st .. 8 .... - .... ... - ........ - .... 124 -124 .... - ...... .. - ........ - ........ - .... 116 -117 .. .. • .... 118 - 118 116 -117
Bell. & Oaron.-1st-6 ••.• - ........ - ... US31;-113½ .... - ........ - ... . .. . - ........ - .. .. . .. - ........ - ........ - ........ - ...... •· - ....
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BAILRO.A.D BONDS.
66
1881'-Concluded.
JUNE,
,J.ANU.ARY FEBR'RY.
JULY.
AUGUST. SlllPT1BBB. OOTOBER NOV1Bll:R 9'EC'BEU.
MARCH.
APRIL.
---- - - - ------•-,1----1----1
-----1------ -----1•----1--- ----
BONDS.
Low.High Low.High Low.Blgb Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High
St.L.A1·k.&Tex.-lst.6 100 -100¼ 98¾-100¼ 99½-101¼ I00½-102!k; 99 -101¼ 99¼-1007,1i 98¾- 99,.t 96½- 9~ 95½- 99½ 97¾-99¾ 96¼- g8½ 97!}4- ~
2d., 1936 . .. ........... . 6 53¾- 55¾ 49¼- 54 50¼- 08½ 50 - 5~ 49¾- 52¼ 44 - 50% 45 - 47 41¾- 46 35 - 45 89 - 44 41¼- 45¾ 40 - 44~
St. L.& Iron Mt.-lst .. 7 118¾-115 111 -111¾ 110 -111¼ 110¾-112 111½-112 111¼-112 112½-112½ 108 -109 107 -108¼ 107 -108¾ 108¾-109¾ 108,¼-109
2d, 1891 ................ 7 113 -114¾ 114 -114 114 -114½ 114 -114 109 -111¼ 111 -112 112 -114 118½-114 112 -118 110 -114 109 -110 108%-110
Ark. Branch . ......... ,- 112 -112 111½-118 111½-118 112!1:(-114!}4 . ...
. .. 109½-109½ 110_ -112 .... •..... - ........ - .... 110 -112 lOi¾-109¾
Cairo &Fulton-lst .. 11()6¼-107¼ 106½-107 106¾-107 1~-107½ 108 -108% 108¾-109¼ 104¾-105¾ 105 -105½ 104 -105½ 105 -105½ 106 -106¼ 105¾-109
Cairo Ark. & Texas.,- 111 -112½ 111¾-112½ 112)4-113 118 -ll8 116 -116 111½-111½ 111 -111¾ 109 -110 109)4-110½ 108 -112½ 111½-lll½ •... _ .•••
Gen. consol. & I. rr ..• . :, g5 - 99 96 - 98½ 96 - 98 04 - 95¾ 94 - 95 94 - 95 98 - 94% ll8 - 96 92¾- 96% 89½- 94 90 - 94 91 - 94:
St. Paul & Dul.- lst .. :i .. . - . . . . .. - ........ - .... 112½-112½ .... - ... . 112¼-113 113 -113 . . . . - . . . . . .. - . . . . . . - . . . . . . . - . .. . . . . - ••••
St, P. Minn,& M,-bt .. 7 110¼-110½ ... - .... 114 -115 117 -118 110 -116 116¼-116¾ 118½-114¼ 112)4-113¾ 112¾-112½ 112 -112¾ .... - ........ _
2d mortir., 1909 . .. .. . 6 119 -120 118 -120 119½-121 118½-118¾ 119 -120 118½-120¼ 119½-120 119¾-119¾ 115½-118¼ 112½-117 115½-116½ 115½-116¼
Dakota Extension .... 6 119 -119½ 118½-120 119¾-120 120 -120¾ 118 -119 ll'i½-119 118½-119 116¼-118 115 -115 118½-118½ 115½-116 115 -116
1st, consol,, coup .... . 6 119 -120 118½-120 118 -120 lW½-120 119½-120¼ 119¾-120 116¾-117¾ 115 -117 114¼-115¼ 115 -118 116½-117 115½-117
Reduced to ......... 4½ ... - . . . . 98 - 99 99¼-100 99%-100½ 100%-101½ 100½-101¼ 98¼- 99 98¾- 09¼ 98¾- 99¼ 98 - 98½ 98¼- 98½ 98 - 99 '
SanA.&Ar,P.,1916 .. 6 .... - .... ... - ........ - ....... . - .. . . 90½- {)O½ 91 - 91 •... - . ....... - .....•.• - ........ - .. . .... - ........ _ ..••
1926 ..... .............. . 6 .... - ........ - . .. .
- . .. . 92
92
92 - 92¾ 92½- {)2½ {ll¼- 91½ .... - • . . . 90 - 90 ...• - ........ - ..•.•..• _ ••••
~cioto Vallev-lst,con.1 .... - ........ ~68 - 65 *60 - 65 *60 - 60 ..•• - ••••.... - .... *55 - 65
... - •....... - ........ - •....... - ... .
Shenandoah Val.-lst.1 96 -100 96 - 9{)3' 9~- 97% 97½-100 .... - ........ - .... . .. . - .••....• - •...•... - ........ - ........ - .... ... _ ..••
_Trust receipts .......... .... - . . . . . . . . 06½- 96½ 96½-107¾ 107 -109 107½-109 105 -106 103½-108½ .... - ........ - . . .. 92¼- 97½ 91½- 92
Gen. mort ............ . 6 89½- 48 89 - 89¼ 87 - 40 88 - 52>t 49½- 55 50 - 54½ 47%- 52 45 - 46½ 82 - 43½ 88 - 38 85 - 87 84½- 87
South Carolina-1st ... . 6 107½-107½ 106¾-107¾ 99½-106½ 983,,i- 98¾ 9i - 97 116 - 99 98 - 98 97 - 97½ 96¾- 99 95 - 96½ 95 - 96 95 _ 96
2d, 1931 .... ... ..... .... 6 80 - 80 .... - .... .. - ........ - •... 65 - 65 66 - 67 ...• - • .. . . . - ....
- ........ - . .. . 65 - 66
_
Incomes . . ............... 6 28½- 28½ 24 - 26 19 - 24 25 - 25.J,; 19 - 20 20 - 20 .... - •..• 15 - 15¾ 18 - 15 13 - 18¼ 18 - 16½
Tenn.Coal&I,-1901.6 104 -104 .... - •... . ... - ........ - ........ - .... . ... - ........ - .••..... - ........ - .. . ..... - ........ - •....... _ .. . .
So. Pitts,. 1902 ...... 6 . . .. - . . . . . . . . - . . . . . . .. - . . . . . .. . - .... 107 -107 . . . . - • . . . . . . . - . . . . . .. . - .. . . . . . . - . . .. . . .. - .... 100 -100
_
Bir, Div., 1st . ...... . . 6 .... - .... 88~- 90½ 86 - 91 90
98
88 - 91
85 - 89
88¼- 86
80 - 85
74 - 81
75 - 79
79 - 84¾ .82¼Tex.C,-lst,s.f.,1909 .. 1 77 - 77½ 77 - 80 .... - ••.. 78 - 78 ...• - .... 78 - 81 80 - 80
... - ... . .... - ........ - ........ - .... 70 - 70
1st mort., 1911 .... .. 1 .... - ........ - .... . .. . - ........ - .... 77½- 80 79 - 'i9 .... - .... . ... - . . .. . ... - ........ - ........ - •....... - • . ..
Tex.&N.O.-lst,190:i.1 .. . . - ... 116 -115 . ... - ........ - ....•..• - ••...••• - •... 115 -115 .... - ........ - . . . ... - ........ - ...
_
Sabine Div., 1st .. . . . . 6 .... - .... 108¼·104 l00½-104½ 103 -103½ 108~-lOS½ 104¼-104¼ 108 -104 .... - .... 100 -102½ 100 -102 100 -102
-102 ..
Tol,A.A.&N.M.,lst.6 89 - 92 80 - 90 89%- 90¼ 90 - 97 98 -100 97 - 00 98½-100 97½- 99½ 90 - 97 90 - 98½ 89 - 90 89½- oo
Toi.A.A.& G oT,-lst .. 6 103 -103 104¾-104¾ 104½-105 104¾-105 10()¾-107 107 -109½ 106 •107 104 -105 102¼-105 100 -105 lOC¼-102½ 101 -102½
Toi.& Ohio Cent.-lst .l> 95 - 99¾ 96¼- 98 95 - 98½ 97½- 98½ 97¼- 99% 98 - ll9~ U6 - 913¾ 95½- 96 95 - 95
91 - 95
92¾- 95
94½- 95¼
ToJ.P.&W.-lstt1·.ct .. 1104 -110 108 -112 107½-109 107¼-108½ 107½-10~ 108 -109½ 108,½-109 ..•• - •.....•• - •... 'iO - 70 .... - .... 82¼- 90
Tol.St.L,&K.C.-lst,6 ... - ....... - ....... - ........ - ........ - .... 96¾- 97% 95¾- 97% 95 - 96¼ 94 - 95¾ 92 - 96 98%- 94¾ 91¼- ll\l¾(
VlrginiaMidland-lnc.6 97 - 99 .... - ..•. 96¾- 97 95 - 96 95½- 98¼ ..• - •... 96 - 96 .... - ........ - .... .. .. - ........ - ....
_
Gen. mort., 1936 ... . ~ . . .. - ...... . . - ........ - .... 90 - 90 88%- 90 86 - 89 87½- 89¾ 86 - 88¾ 79¼- 80 75 - 80 77 - 82½
Valley Ry, ofO,-Con.6 105 -105 . .. . - ....•.•• - •••.••.. - •.•. 104 -105 105½-106 .... - ........ - ....... - ..... . .. - ....... - .•...•.. _ ... •
Wab. St. Louis & Pac.Gen. mort., tr. rec .. .. 6 49 - 60 49½- 52½ 52 - 56 55 - 58 57¾- 60¼ 58 - 60 50 - 58 51 - 55 55¾- 55¾ 52 - 52 56 - 57½ 50¼- 50¼
Chicago Div ............ ~ 91¾- 94 89 - 95 93¾- 96½ 96½-100¼ 100¼-104¼ 100 -102¾ 98 -100¼ 98 - 99½ 94 -100 98¾-102¾ 99 -108½ 97½-102
Detroit Division ..... 6 .... - ........ - . . . . 91 - 92 91¼- 98½ 98 -100½ 97 - 97 .... - . . .. 94 - 1!5½ 93 -102¼ 100 -104 108 -108¼; 107 -107
Wab'sh-Mo1•t, .1909.1 85¼- 85¼ 86¼- 88 84¼- 88¼ 88½- 90½ 98 - 97 90½- 90½ 90 - 90
82 - 85
90 - 90
82 - 85
87 - 94
90 _ 92¼
Toi.& W,-lst, ext'd.7 110¼-118½ 112 -118½ 112½-118½ 118½-116 116 -117¾ 118 -114¾ 114¼-114½ 115 -115 118 -1141/4 114),,t-115 110 -112½ 110%-lH
St. LouisDiv ......... 1 106 -111½ 109¼-lll 110 -111 110%-114½ 114 -116 112 -113 111 -112 110¼-110¼ 110 -110½ 113 -115 110½-111 108 -110
, 2d, extended .... ...... 7 99 -108¼ 90½-101½ 101½-102¾ 102 -104¼ 105 -108 105 -105 9U -102 100 -102 98 - 99 97 - 98½ 96 - 96 90 _ 94
Cons., conv. . . . . . . ... 7 90 - 95½ . . . • - • . . . 84 - 90¾ 92 - 94¼ 94 - 99 93 - 93 88
90
85 - 85
83 - 95
80 - 90
90 - 90
92¼- 92¾
Gt. Western-1st . ..... 1109 -112¼ lll¾-118 112 -113½ 113¾-115¼ 115¾-117¼ 118 -114 114 -114½ 116 -116 114 -114 114½-114½ 109½-112¾ 109¼-110%
2d mort., 1893 ..... 1 99 -108¼ 99¼-101¼ 101!1,!-102½ 102 -104 105 -107 102 -105¾ 99%-102½ 98 -101 98 -100 94 - 99 93½- 96 90 _ \15
Quincy & Tol.-lst ... 1 .... - ........ - ........ - ....... - . . . . 96 -J.03 90 -106 .... - .... 100 -100 100 -100 .... - ........ - •.. .
_
St.L.K.C,&N.-RJ.E.1110 -112 111 -112½ 109 -111~ llO -111¾ 112 -112½ 112½-118 112 -114¼ 114 -114 ..•. - ........ - .... 110 -112
-1ii ..
Omaha Div,, tr.rec.7 100 -101½ 100 -1C8¾ 108¼-110 117¼-118¼ 118¼-125 122¾-124¼ 121¼-125 119 -119 ... . - •....•• - ••..•••• - ....•••. - •.. .
St. Chas. Bridge .... 6 103½-103¼ 10$½-103½ 104 -104 104 -106 107 -107 .•.. - .•..... - .... 106 -106 .... - ........ • •....... - .•• , .... - .. ..
North. Mo.-lst ........ 1114:14-114¾ 115½-116 117 -117¾ 117½-118 117!!(-118,(i 118 -118½ 118½-118½ 112 -112
.• - ........ - .... 112 -114½ 114 •114
War1•en-2d mo1·t ...... 1 .... - .... . ... - ........ - ........ - ....... - ........ - .... 120 -120¼ .... - ........ - ....... . - ........ - ..•..... - ... .
West Sho1·e, guar ..... .4 102¾-108¼ 102½-108¼ 102¼-108 102%-103!,( 103¼-104 108 -104¾ 98%-101¾ 98)4-100 97 -100 98¼- ll9¼ 98%-101 101 -102
Rea-tstered . . . .... ..... .4 102¾-108¼ 102¾·103¼ 102¾-!03 102½-103¼ 108 -104 x:101-10-i¼ 99!)4-101¼ 98¾-100 97%- 99½ 9R½- 99 98¾-101
!l~~· 101M
\"l'est. Un. Tel.-Coup .. ,- 119½-119½ 118 -118½ 119 -119 120 -120 .•.• - ••.•••• - •. . .•• - •••. 116½-116½ 118 -118 118 -118 115¼-115½ 117 -117
.Reglste1·ed ..... .. ..... ,- .... - .. .. 119¼-119¼ ... - . .. . 120 -120 118 -118 ..•• - .... 116½-118½ 118 -118 .... - ... . 119 -119 ..•• - ••.. 117 -117
Wheel.&Lake E,-lst.:i .... - ... . .... - ........ - ........ - ........ - .. 101 -102¼ 100%-102 100 -101¼ 100 -101½
- ........ - •• •..... - .. ..
.i5 _io ..
ss··
ici2
.78 _so"
in
• Coupon off.
1888.
J.ANU.ARY Fll:BR'RY.
M.ARCH.
APRIL,
Jd.AY.
JUNE.
JULY.
.A.UGUilT. SEPT'BER. OCTOBER. NOV'BER. DEC'BER.
- - - ---- ---- - - - ------Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High L0w.HiJ!h
---- - - - - - - - - - - -· - - - - - - - - - - ---Wat,W, Co., lst.,6 103¾-108¼ .... - ... .... - .... .. - .... . ... - .... 103,¼-lCS½ 10$¼-103¼ .... - .... .... - .... 104½-104½ .... - . ... . ... - . ...
BONDS.
Am.
Atlantic & Pac,-lst . . .4 80 - 82 80¾- 88 81 - 81¾ 80½- 88¼ 82¾- 84 82¾- 83% 81¾- 8:& 81 - 82 81¼- 83¼ 81¼- 82½ 79¼- 81% 80 - 8-1½
Income ................ . 6 26 - 27¾ 26 - 27¼ 21 - 25¼ 19 - 25 19¼- 24¼ 19 - 20¾ 20 - 22 21¼- 25¾ 23J.2- 25¼ 21¼- 21!,( 19¼- 22½ 19¾- 22¾
.
.... .... - .... .... - .... .... - . 96¾- 96¾ .... - ·•• · .... At, T. & S. F.-Col. tr.ti .... - .... . ... - .... ....
·•• · 86½- 80½ . ... - · ••·
.... .... - .... .... - .... . ... - .... .... - .... .... .... 101 -102~ 101 -101'1i 102 -102311 102 -102½ 101 -101 .... - . ....
Chic. S. F. & Cal,lst,IJ ....
.... .... . .. - .... .... . .... 118 -122 123 -128 121 -123 128 -123 123 -123 .
- ....
Bait, &O.-lst, P.Br . . 6 ....
Gold, 192~. coup ..... :; 108 -111 107"-108½ 105 -107:}4 106 -107½ 107½-108½ 108 -109 110 -110 108 -109 108 -108½ 106 -107½ 107¾-109 108½-108'.(
. ... - .... 107½-107½ . ... - .... .
.... 105 -105 105 -105 105 -105 .... ... 105 -105
Gold, 192:i, reg ...... :; .... - .... 108 -108 .... .... 108½ 108¼ .
.... .... - .... .... - .
..... - .... .... - ... .... - ....
- .
.... ....
Con. irold, 1988 ....... ;J .... - ...
. ... . - .... .... - .... 88½- 86 .... - .... . - .... 85¼- E5¼ 84 -84, .... - .... 85 - 85 .... ...
Beech Creek.-lst, p: •• 4 .... - .... . ...
. 98
Bost, H.T. &Wes.deb.6 98 - 99 100 -1~ 98 - 98 97 - 99 99 - 99 99½- 99½ 99½-100 .... - .... 97¼-98 97¾- 98¾ ....
B'klynEl.-lst,1924 .. 6 105 -106½ 105 -100 105 -10~ 103 -106~ 106 -107 107¼-107½ 108 -109½ 100 -110 108¾-110 105 -108 106½-108 108 -108~
. ... ....
. - .... .... - ....
.
~-86
86¾- 86½ ... 2d mort., 191:i .. .. 3.:, 81 - 81¼ 81½- 81¾
Bur, c. R. & No.-lst . . ~ 105 -106% 9S -106 99 -101 99 -108 102'4-108 95¼-101 95 - 96½ 95!!(- 96¾ 9i - 96;( 91 - 94½ 91 - 95¼ 91½- 93
. .
... 82 - 82 88 - 88 85 - 85
- .
Cons. 1st & col, tr .. . ~ .... - .... 94, - 94 9a - 95 87 - 88
... . .... . .... - .
....
.... - ,. .... .... .... .
....
C,Rap.J.F.&N ,·-l•t,6 105½-105½ 1.05 -106
.
....
.
...
.
...
.
.
...
....
....
....
...
.
.
...
1st mort., 19~1 .... ~ 97¼- 97¼
... - ....
....
.... - .... .... .... .... - .... .... ....
.
- ... 110 -110 .... Cababa Coal & M,lst,,- ....
80 - 81
80 - 84¼ 81 - 82½ 82 - 88
72 - 76¼ 75 - 77½ 78~- 82
80½- 82
.... 75 - 'M ....
Central Iowa-1st ...... 1 79 - 88 ...
.... .... .... 45 - 45~ .... - .... .... - ....
Consol,, 1924 ......... 6 50 - 50 47 - 47 ... - .... ....
-.
- .... .... - ....
Cent, RR. & B,, Ga .. :i 99!)4-101½ 100½-JOl:i.t 100 401 100¼-101¾ 98¾-l~ lOQ¾-102 102 -103¾ 103¾-103¾ 108!!(-104 102½-102½ 99 -99 100 -100
105
107¼-107!!(
104
-105½
105¼-105%
105~-105½
-104¼
105¼-106
Cent.of N ,J ,-1st, 1890. 7 107¼-108).fj 104~106 lot½-106 105¼-106¼ 106!-(-107 107¼-107!,(
.... - .... 121 -121 120½-121 120 -121
Con•ol,, 1899 ......... 1 111½-117¼ 116J.i-117¾ 117 -117½ 116¼-117 117½-119 120 -120 119¼-119½
•.. 122½-122½ 122¾-128 120¼-l.20¼ 121¼-122¼
Oonv,, 1902 .... ...... .1 115 -120 120 -UU .... - .... 122 -128½ 120¼-121¾ 122 -122 123 -128 .
....
103¼-104 . ... - .... 105¾-105¾
- .... l05¼-rn5¼
Conv, debenture ...... (( .... - . 102 -102 . ... - .... .... .... .... .
Gen. M., 1981 ........ ~ 98 -101 100¼-101½ 100¾-101¾ 100%-102¾ 102~-105 105¼-106¾ 108½-105;( 104*105¼ 105 -105~ 105~-105!1,C 105¼-106'4 106%-108¼
Rel{istered . ... ...... ~ 97¾-100¼ 100¼-101¼ 100 -101¼ 100¾-101¾ 101 -103¼ 103:1.(-105 108½-105¾ 104¾-106 104%-105 104¾-104¼ 104~-105½ 105~1()6%
Leh,& W,B.-Assent 1 113½-114½ 114½-114¾ 112¾-114 112¼-118½ 118¼-114',i 118 -114. 1149(-114¾ 115'.(-116 114¾-116 115¼-117 116½-117 114 -115¼
Am. Dock & Imp ...... :; 101¼-102¼ 103½-105 10~-105½ lOf> -107 106¾-lDm 107¼-109 107 -107'4 107 -107 106 -107 107 -108¾ 107:1,(-108¼ 108¾-109¼
Ches, & Ohio. 112 -113 112 -114 114 -114. ··•·
118 -118
Purcha11e moneyf'd .. 61110
118 -118 118 -11*
Serle11 A .... .......... .. 6 99 -100 101¾-108 10$¼-105 104 -105½
- .... - . 11' -114
- .... ....
-112
118 -118¼ 111¼-112.l,i 114½-115 115 -115
. 112
Coupon otf........•. .. . .... - • • • • • • . - • • . • • • • • - •••• 102 -1~ 104 -107 104 -104
-.
- ...
....
... ... .... - ...
-
.
-
....
- ....
.... - ....
...
········T'' lr .. I.__
•C~¾- 69
'68 - 64
Serleo
B .......
Reoriran.
com, cert.. .. .. - .. . . • •. • - 7090
.•.. 66 - 66 66 - 66
Exteu. coup., 1986 .. 4 6'13,r 70 64.M- 70:i.t 68 • 68½ 62 - 68
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
....
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6'1 - 67
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-68½ 69'(- 70¾ ·71:i.t- 72 75 - 80¼ 78 - '19 .... - .... ~ - '19)(
- 66 .... ; .... '18 - 78 .... - .... .... - .... .... - .... •••• ;.. ·••3
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....
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R.A.ILR OAD BONlJS.
1888-Contlnued.
BONDS,
JANUARY FEDR1BY.
MARCH.
APRIL.
M.4.Y.
JULY.
AUGUST. 8EPT1BER. OCTOBER. NOV 1BER. DJ!:O'BER.
· - - -· - - - - - - - - - - - ----1-----1---- - - - - - - - ----•·----•·---
Low.High Low.High Low.High Low.Higb Low.High Low.High Low.High Low.High Low.Hi~h Low.High Low.High
----------, Low.High
-----
Ches, & Ohio.-·Cont'dExt. cp,, reorg, cert •.... - ........ - . . . 68¼- 66 62½- .66 66¾- 67¾ 66¾- 6~ 69 - 70¾ 70¾- 78¾ 73¾- 50 77¾- 80½ 76¾- 79
78 - 79¾
Currency ............... 6 22 - 27% 18 - 28 17 - 20¾ 16%- 17 2~- 20¾ . . .. .... .. - ... . . ... - . .... ... - ........ - •....... - ..•.... . Reoriran, com, cert ...... - ..... ... - ........ - . ....... - . . . . 19¾- 21 1~ - 20 J9 - 24 23¾- 24¾ 24 - .J(}¾ 30}:(- 84½ 28 - 82~ 28¾- SQ9i
lliort,, 1911. ........ .. . 6 90½- 97¾ 97 -101¼ 100 -101¾ f/9%- 99% tOl -102¾ 102!J.(-108¾ 104¼-106% 108 -112¾ 112 -118 114¼-114¾ . .. . • . ....• , . - ... .
Coupon off".... .... ......... - ........ - . . . . ... - . . . . 96 -100 . ... - •. .. 108¼-108¾ .... - . . . 112 -11~ 118 -114 Ul¼-114½ 114 -116 118 JlU
Ches, O. & S. \V . ... . a-6 105 -108¾ 104 -104 lOS,4-104 104 -104 105 -105 .... - .... 110 -110½ lOfl¾-107¼ 107¼-107~ 105~-106¼ 106 -106¾ ...• - ....
2d mort., 1911 ........ 6 72}(- 72% 6~- 71 .... - ... . 66 - 66
68 - 68 . ... - ... 72¾- 78¾ 70¼- 72
i8 - 'IB •••• - ••. .• ..• - .•.....• - ••••
\}hie. & Alton-ht ..... ? ll2 -114 113 -113½ 118¼-113½ 118½-113½ ... . - . ... 114¾-115 1!2 -112 112 -112 112¾-112½ 112¾-112'.?1; .... - •... 1183'-ll8U
Sinking fund ........... 6 124 -125 . ... - .. . . . ... - ... 1253'-125½ 122¼-122¼ 123¼-123¼ .... - .... 123½-128½ 128¾-rn8¾ 124¾-124¼ 123¼-l.28¼ .•.• - ... .
L,&Mo,R.lst,.19001119¾-119¼ . . . . - .... 119¾-119¼ .... - ....... - ..... ••• - .•. 125 -125 .... - .... 119¼-119¼ 122 -122 .... - ... . 123 -128
2d, 1900 .. .. . .... ..... ? 117¼-ll'i¼ .... - ••.. . ... - ........ - .... 115!,t-115¼ .• . - ....•... - ••• . ... - ....• ••• - ... . .... - ........ - •... 119½-1193'
St,L,J, Vh,,ht,.'94.7 115 -115¼ 116¼-116¼ 116¼-116¼ 1123'-112¾ 114 -114 114¾-115% ..• - .... 117 -117 .. .. - .•.. 113¾-118½ 114¼-ll~ 114¾-ll~
lstm.,g11ar,,(a64).7 .... - ........ - ....... - ........ - ....... . - ....... - .. . ll{l¾-116!J4 .•. . - •.....•. - ....... - ........ - ....... - ... .
2d lll., gunr. (188) .. 7 .... - . . . . 115¼-115¼ .••• - ........ - . . . . .... - ........ - . . . ..... - ........ - ....•.• - ... . .••. - ... .••• - .... 116 -116
Miss,Riv,Bd.lst,s,f,6 107 -107 .... - ........ - .... 104 -104 107 -107 .... - ........ - . .....• - ........ - .•...... - ........ - .... .... - ... .
Chic, Bur.& Nor,-lst.a 102¼-108 101¾-102½ .... - .... 98 -100 100 -100
98¾-100¾ 98 - 99 100 -100
•.• - •••• 97 - 97 . ... - .. . .... - ... .
Chic,B.& Q,-Consol. .. ? 129¾-182 181 -181¾ 181 -182½ 18~ -183 182)4-183 138¾-184 180 -130¾ 131. -182 181 -182¾ 131¾-182 182¼-188 133 -1~
Sink, :f11nd, 1901 .... . ~ .... - ... . .... - . . . ... - . . .
. . - . . . .. . - .... 107¾-107¾ 108¼-108~ .... - ........ - ... ..... - . ... .... - .... 107¾-1~
Debenture ........ .... . a t04¾-10tl 105 -107¾ 104¾-106 104½-106 104 -106 105¾-107 105 -106¾ 106 -10~~ 103 -105½ 104 -105½ 101!1,(-108 102 -104%
Iowa Div ..... .. .. ..... 4 96¾- 98¾ 96¾- 96~ .... - . .. . 95¾- 96¼ 97 - 98½ 96 - 97¼ 96¼- 97 96%- 96% 95½- 96¾ 95¾- 98
96 - 97
96!-.!- 97
Denver Div., 1922 . . 4 94 - 95
91¼- 92
91 - 93¼ 91 - 93
98 - 93¾ 93 - 93 .... - .......• - . . . . IW:½;- 91
90~- 9Q9i 92 - 92
92¾- 923'
Nebi·'skaExt,,1927.4191¾- 97
923'- 98¾ 92½- 92¾ 92 - 94 78 91¾- 93
92¾- 93¾ 92¼- g3 92 - 92¾ 91 - 92¾ 92~- 93 90'4- 91¾ 90¾- 923'
Chic, & E,
s,t.ti 114 -116 .... - .... 117 -117¾ 117 -117 115 -119 1115%-118 118¾-llll¼ 118¼-118½ 118!1:(-119 120 -120 · U0¾-120 l17 -118
111,-lst,
lstconsol,,
a-old .......6
Gen. mort,, 193? .... a
113 -117
94¾- 95
116¾-117¼ 116½-116% 118 -114½ 114¾-115¼ 115¼-115½ 115¼-117½ 117 -117'4 118½- 119 1167-(-119¼ 118 -119 117 -1io
9i - 96
94¾- 94¼ 93¾- 94¼ 91½- ll5¾ 05%- {17½ 97¾- 98
977k 98¾ !lS¾- 9g% 119¾-101
971,4- 9~ 96%- 97¼
Chic, Gns L, & C-lst .. ~ . . . . - . . . . . .. - . . . . . . . - . . . . . . . . - . . . . .. . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . 85➔.f- 851'
Chic,&ln,C'lRy-ll!lt.~ 97 - 98
97½-100¼ 98 - 98½ 96 - 98
97 -100¾ 98¾-100
97 - 99
99 -100 100 -100 100¼-108¾ 103 -10~ 102 -102"
Chic. Milw. & St, P,lst P, D,, 1.898 ... ..... 8 127¼-130 125¼-127 127 -128 127 -129 127 -127½ 127¼-128 l.28¾-180 ...• - ........ - . ... 123½-124¼ 125~1215¾ 124¾-125
2d, 1898 ...... _. ...... ?'3 122½-122¾ 117¼-118 ll'i¾-118¾ 119 -119 .•.. - .......• - .... lUl½-119½ .... - .... 117¾-117¾ 117¼-117¼ 119 -120 120 -121
1st, gold ................. ,- 125¾-127 1263'-126¾ 127 -127 125 -126¾ .. •• - .... 126 -128 123 -128½ .... - . . . . 124 -125½ 124 -124¾ 125 -125 124½-125
ht La Crosse Div .... 7 113¾-114¾ 114¼-115 114¼-114¼ 118¼-116¾ 115 -116 113¾-114¾ 111 -118 113 -115 . ... - •. • . 111 -111½ 112½-118 112 -112~
1st I, & llI, Div ........ 7 114¾-116¼ 117 -118¼ 117 -118 117 -119 118 -119 116 -116¾ 115 -115 .... - ... ..• . • - .... 118!!,t-113¾ 116 -116¾ 116 -116
lstl.&D.Div ........ 7 .... - ... . .... - ........ - ...... .. - ........ - ........ - ........ - ........ - ........ - ........ - ........ - .... 121¾-121~
1st C, & M. Div .... ... ,- 126 -126 128 -128 127 -127 1263'-127¼ 127½-128¼ 127- 127 . . . . - . . . . . . . - . . . . . • • . - . . . . . . . . - .... 125 -128 126 -126
Consol,, 190ii ..... .... , 123¼-126 125 -125¾ 124¼-H5'A 125¼-125¾ 126½-128 125¾-127 123½-125½ 124~-125~ 128¾-125½ 128 -124 124 -126 126 -127
1st I, & D, Exten ..... 7 1223'-124 124 -124 123 -12! 122 -124 127 -127¾ 124¾-124½ 123 -12! 124¾-124¼ 124 -124 . . - .... 122)4-122~ 122¼-128
1st So, WestDlv ...... 6 118 -113¼ 113311-118½ .... - ..•...•. - ........ - .......• - .... 112¼-115 115 -115 111¾-111¾ 111¼-114½ 112 -114¼ 118 -114~
1st La C, & Dav ...... a 102¼-102½ .... - . ....... - . • . . • .• - . . .. 105 -105 104 -104 108¼-108¼ ... - ........ - ........ - ... 102¾-10~ 102 -102
1st So, Minn, Div ..... 6 111)4-118¾ l12¼-114 112 -113 1103'-112¾ 112¼:-118¼ 110¼-113 100 -111!1-J 111¼-113 107¾-118 109¾-110,t 110¾-112 111 -118
1st H, & D, Div . ... ... ? 122 -125 123 -123½ 123 -124 122½-123¾ 124 -124½ 123 -124½ 121 -122 122 -122¼ ! 19 -121¼ 120 -120 122 -1223' 122 -122M
1st H. & D, Div . .. . . a ~-100 100¾-101 100¾-100½ 101 -101 101¾-101¾ 1033'-108½ . ••• - .. . . . . . - .. ..... . - .... 99)4- 99,- 100 -<100 100¾-100¾
H. & D, Div,, 1902 . . ? .... - ........ - ........ - ... ... . - ....... - . .. . .... - ........ - ... .. ... - ... ... . - ...... . . - .... 120 -120 .... - •...
& Pac. Div ..... . 6 .... - .... 120 -122 119 -120¼ .... - .... 128 -123 119~-1203' 121 -121 121 -121 . ... - ... . 118 -118 .... - .... . . - ... .
Cbic.&Po.c, W,Div .. a 101¼-104 1W}r105 103,g-104¾ 104 -104¾ 104.~-105½ 104¾-105¾ 108¼-106 105:1,(-107 108;½-106¾ 103¾- 104 104 -105¾ 104~-1~
Chic, & Mo. R, Div .. 6 95¼- 98 98 - W:1-4 98%- 99 983'-100¼ 100 -101 100 -100¾ 97,rlOO 100¾-101 100 -101
093'-100 100 -100
98:½-1013'
Minero.I Point .... .... . a 101 -101 .... - . . •. .. . - .... 102 -102 .... - . ... 101 -101 100 -100
... - . . 100¼-102
99½-100 100½-101 101 -102
Wis,& Min, Div ...... a 100 -101 101 -101¾ 101¼-101¾ 102 -102¾ 101 -104 100 -102¾ 100 -101½ lOl½-102¾ 98J.(;-100
99%-100½ 100 -101¾ 100 -101
Te:r.mino.l. ... ......... . 6 100 -101 101 -101½ 101 -101¼ 101 -102¾ 102 - 102~ 1()2¾-108 100 -102¾ 101%-102¼ 101 -101 101 -101~ 101!'(-102½ 102 -10~
Inc. con v ,, S, F .... ... ti . . . . - . . . . 95 - 95 . . . • - . . . . . . . . - . . . . . . . . - . . . . . .. . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - • . . . . . . . - . . • . . . . . - ..••
Dakota & Gt, So, .... 5 95 - 95 . . . . - . . . . 94¾- 94¾ 92½- 93½ 94.¾- 96 96~- 96¼ . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . • - . . .. . . . . - . . . . . . . - ....
Chic. & Northwest,~
Consol,, 1915 .... ..... ,- 189¾-148 140!,,.(-142!4 Hl¼-142½ 1413'-142¾ 14.0 -141 141 -142¾ 148 -144}( 142 -142¼ 142 -148 144 -144~ 142½-144¾ 142¼-142},6
Gold, coup,, 1902 .... '7 129 -181¾ 180¼-132 180 -181 130 -131¾ 131 -182½ 128 -130 180 -181¾ 130¾-131¼ 130 -182 181¾-182 131 -182¾ ~28 -1~
Gold, rea,, 1902 . ..... 1128½-131 130%-131½ 129 -181 130 -180¾ 131¾-131½ 128 -129~ 129¼-180 180l}(-131'4 180 -180 180¼-130¾ J.31½-132 128½-128¾
S lnklng;:fllnd,coup .... ti .... - .... 121 -121 120¼-~ 118"-120 120 -120~ 1111 -119¾ .. .. - . ... 120 -120 119¾-120 118 -11& ...•
. ... 119 -119
Rellistered . ......... . 6 ... - ... . .... - .... 120½-120½ . ... - • . • 118),(- 118¼ .... - ........ - .... .... - .... .• .. - ........ - ........ - ........ - ... .
Sinkinll iund, coup ... a 108 -110 109!'(-111 110½-111 106 -108 107½-108½ 10$¾-108¾ 107¼:-108 108¼-110 110¾-110½ 107!1:(-108 107!!,t-108¾ 108 -10~
Rc!listered .......... . t; 109 -109 109J.1a-110¼ 1103'-110¾ . . . . - . .. . 107 -107" 108~-108¾ .. . . - • • . 108½-108½ . . . . - .... 106½-1C'8 . . . . - ........ - ••••
De9cnturc . ... .. . ....... £} 108¾-109 108 -109¾ 108 -109 110 -111 107 -109J.(; 108 -108½ 110 -111 111¾-111½ lll¾-112¼ 111 -111¾ 108¼-109}4 109,ii-1119¾
Registered ... .. ... . a ... . - . . . 107¼-107¾ 107 -107 107 -107 107¾-108¼ 108¼-108¾ .... - . .•..•.. - ..•. 110 -110 110 -110 107½-108 ... . - .. .
25 yrs, ,leben,, 1909.a 101%-105).<_ 104¾-105¼ 105 -105 104½-106¾ 104 -105¾ 105¼-105'a lOtl~-106¾ 106 -106¼ 105 -106 105¾-106½ 108½-104¾ 104 -104.~
Exten. bonds, 1926 .. 4 94~- 95
92¼- 94¾ 91½- 93¼ 98 - 94¾ 93"- 97½ 96!,(- 97¾ 963'- 97¾ 95 - 98
94¼- 95¾ 94¼- 9e¾ 94¾- 95½ 95¼- 98
Re1ristercd . . . . . . . 4 . . . . - . . . 91 - 91
. • . - . . . . . . . . - . . • . \18¾- 95¾ •• • - •••. . . . . - ••. . 94¼- 94¼ 95 - 95
95 - 95 . . . . - .. . . . . . . - ••.•
DesllI,&M,-lst .... ? .. .. - ... . 122¼-122¾ .•.. - •.. .• ••• - ......•. - .•.••.•. - . ...... - ........ - .•.. .... - •....... - ... . . ... - ... . .... - ... .
Iowa Midlnnd-lst ... 8 129 -129
.. . - •. ...... - . •• . . . - .•.. 181%-181:¾ •... - .... 181 -184¾ 184 -185 185 -185 181 -182 182 -182 1823'-1823'
Peninsular 1st conv.? .... - . . . ... - .... 127 -127 .... - •... 125 -125 .... - ... ... .. - . .. ..... - . .• ..... - .... 125¾-125¾ .. • - .. .. ..•. - ••••
Chic.& Mil,-lst ...... ,- . ... - ... 120 -120 119 -119 .... - .... 1203'-120½ .... - •••.... . - .... 119 -119 t20¼-1207' 120¾-120¾ 122 -123 128 -12l%
\Vinona& St, P,-2d .? 129¾-181 131¼-132 .... - .... 131 -181 . ... - .... 130 -180 . . .. - ........ - ....... - ........ - .... . ... - ........ - ... .
.ll'Iil, & llln.d,-lst .. ... 6 ... - ... 118 -113 . ... - ........ - .. ...... - ....•••• -.... . ... - •••....• - ••••. ..• - ........ - ........ - •.•. 113 -118
Ottum. C, F, & St, P .a 108 -108 106¾-108 105 -105 1063'-106½ 106 -107¾ ..•. -. .. • . . . • - .... 108 -108 .... - .... 106¼-108 .... - •... 108 -108
1' 01·the1·n Ills,-lst . . t, .... - .... 107 -108 .... - ... .. .•. - .... 107 -107:Jt .... -.... 106¾-108½ 108¼-108¼ .... - .... 107 -107 .... - •••. 108 -108
Chic.R,I.&Pac,-Cp . .. 6 131¾-132¾ 132¾-133¼ 131¾-183½ 130¼-183 1823'-183 182¾-184 130 -130½ 131 -131 . ... - •... 131¾-183 132¼-183¾ 184 -134
Reiristered .............. 6 .... - .... 138 -138¼ 130¾-182 . . •. - •..• 132 -183¼ 132¾-183 129¾-180 129¾-180 .... - .... 182 -182 .... - .... 181 -184
.l::..xten. & Col.. .. ...... 0 107 -107½ 104)4-107¾ 104 -105¾ 105 -1~ 106¼-108 107¼-108 105)4-105¾ 105¾-106 106 -106¾ 106¾-106-7Ai 106¾-107¾/0fl¾-lO'iff
Registe1·ed .. ........ a .. :. - ... .... - .... 104¼-104¼ 105¼-105¼ .... - ..• . 107 -107¾ 10531;-105¼ ... . - .... 105¾-105¼ ... - ...•.... - •.•• 106 -106
Chic.
Ii.eok'k&DesM,-lst,O 107 -107¾ .... - .... 107 -107 104 -104!)4105 -105 105!!,t-105¾ 105%-106 105 -106 .... -_- ·:.···: :· 1:G::5: __--10:5:::jl:0::4: __--10:5::: j1.85
04···"_=-180.5
5···
Des lll. & Ft,D,-lst,4 107 -108 ..•. - ..•...•. - ... . ..• - ••. .. .• . - •••• 85 - 85 .... - •... 85 - 86 ... .
Extension . ........... 4 86¾- 87 86 - 86 . ..• - • . . . 87¼- 87½ 85 - 85 . ..• - ......• - . . . . 85 - 85 • • • •
Chica1ro & St. L,-lst.6 ... - . .. . . .. - ........ - .... 81 - 81 .... - .... . ... - •. . ... .. - . ....... - •... · ···
•...
. ..• ····
•.•• · ·•·
•..•
Chic,St.L.&Pitts-lst.a 99¾-100¾ 9{1¾-100 W¾-100 97½- 97¾ 97 - 97¾ 117 - 97
97 - 97
97¼- 97½ ..•. - . .. . 95 - 95½ 95½- 97 19~- 9711
Chic. St,P, lUin,&Om.Consol,, 1930 ....... . 6 119¾-120½ 120¾-121 1~¾-121 12l:¼-123 122¼-123},; 120 -122½ 121 -123 12()¾-121¼ 121 -121½ 121¾-1~¼ 121%-128~ 119½-121
Chic,St,P,&M,-bt .. ti 122:}i-124½ 125½-126¾ t25 -125 125 -125 122¾-128 .... - ••• • 124 -125 .. .• - ... ..... - .... 126¼-127 124 -124 1123 -128
St, P, & S, City-lst .. 6 123 -125¼ 125 -126 126 -126 1223-2-124 123 -123¾ 123¾-128¾ 123¼-126¾ 126 -126½ 127 -127 123 -124 123¾-124 124 -124
Nor. Wil!lconHin-lst.6 .... - ... . 124 -124¾ •••• - ••.. . ... - ..•. 125 -1.25 •••• - ••. . ... . - ..•. . •.. - •• . • •· •· - •··· •··· - •. •· •·· • - •··· • ... - ...
Chic,&W,l,-lst,s.1, ... 6113 -11~ ....
. ....... - ••. 1115 -115 1123'-112½ . ... - ••.. 114 -114 .... - ........ - ....... - .... 114 -114
~en. mort ........... . ... 6 115¼-115)4116¼-116¾ 115¾-115¼ 115 -116 .... - .... 118¼-115 114)4-114¾ .... - ..•....• - .... .... - •.. '1153'-115¼ l,17¾-118
C1n.In,St,L.&C,-1st.4 .. .. - ........ - ........ - . .. . 04 - 94
••• - •• .• . •.. - ••• •. ••. - ........ - ........ - •••• 94 - 9! .... - .. ...•. . - ..••
Cin, J, & M,-ht,con. ~ 92½- 96 96 - 96 •••• - •••• . . . .
.. •• 95 - 95
92¼- P2½ 92¼- 93 ..•. - . .. . M - 94
94¾- 95¾ {15 - 96
92 - 92
Cin. Laf, & Chic,-lst.'7 .... - ........ - ... . •• - ..•. .... - ........ - ... . . ... - ........ - ........ - ........ - ....... . - .. ...... - .... 128~-128~
Cin.&S,-Gu,C.C,C.&I 118 -118· .... - •••..•.. - ........ - ........ - •.•. 115 -115 .. .. - ..• ...• . - ........ - ......•. - .. ....•• - . ... ... - •.••
Guar, Lake Shore .. . 1 .... - .... . . . . - .... .... - ........ - ........ - .... 120)4-120¼ .. .. - .. .. 121¾-121¾ .... - .... 119¼-119¼ ..•• - ........ - •.••
Cleve. & Canton-ht.a . . . . - . . . . . . . . - . . . . . . •. - . . . . 94¼- 94½ 94¼- 94¼ 95 - 95 . . • • - . . . . . . . . - . . . . 91¼- 93¾ 93¾- 94¾ 94¼- 95¾ 94 - 95¾
Cl, C, C,& 1~-1st, s,1d,1 119½-121¾ 121 -122 .... - .• . . 123 -128 120 -120¼ .... - •... 122¼-122¾ 121¼-128 121¾-122 ..•• - .... 119¾-120 120¾-121
Conl!lol.. . ................. , 128 -12:J 127 -129 .•.. - .•.. .. .. - •.•.... - ••.. 126 -126 181 -131 131 -181 .. .. - .••• 181 -131 131 -182 180 -180
~::::~~ls~o!s::::::·::::!
Col, Coal & 1,-lst,con.ti
Col.H.Val.&T.-lst ... a
Gen, a~ld, 1~04 ..... . 6
&C1n, M1d, lst ... 6
Col,
-
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
io7¼=108½ lOS¼=lW··1ios3'=llO.
100 -101 101 -102 !101¼-102
70½- 78¾171¼- 73
68 - 70¾
70 - 75
71 - 72¾ 63 - 69½
94¼- 95¼ . ... - ....•. . - •••
!!:
liis
iio =1{i ..
=!!!
=1ia··
101%-108 108 - 106 104 -105¼
65 - 69¼167!1(- 70¾, 70¾- 72¼
65 - 69
69½- 71
6\J - 70
. . . - . .. . 92 - 92
92 - 94
iio =1io··1ioo =1ii •.
104¾-106 108 -104¾
72¾- 80
7P¾- 84¾
75 - 78¾179¾- 83¼
90 - 91 .... - ....
1
iio¼=liO¼ iii. =1ia··
108¾-105 10s!. -105
76¼- 83¾178¼- 81
79 - 87
82 - 85
.... - .... 90 - 90
~i!~ii:!Hi
10$¾-104¾
78 - 79¾
84 - R6
.... - •··
::::
104
77
81
98
1
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96
68
RAILORAD BONDS.
1888-tJontinued.
J.4.NU.ARY FEBR'RY.
BONDS.
MARCH.
MAY.
Jmn:.
JULY.
AUGUST. SEPT'BER. OCT0BJIIR. N0V'BER. DEC'BER.
--- ---- - - - - - ·-APRIL.
---· ·- - - · ·---- - - - --- - - - · - - - ·- - - - - - - ---- ··- - - - - - ----
Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.Hl~h
D elaw. & Bud. Canal-
1st, 1891. ............... '7 106~-107~ 107¾-108~ 107:1{-10~ 1077A-109 109¼-ll0 107 - 110),>li 106¾-107 1~-107¼ 107¾-107¾ 107,t-108¾ lOf\¾-108¾ 106 - 100
... .... .... 108~-108¾ .... - .... .... .... .... - .... .... - .... .. - .... no -110 110½-110~ 109 -109 .... - ....
lat extended, 1891 .. '7 .. ..
.... 113 -us lla¾-118¾ .... - . .. ll~-116¼ 116 -116 .... .... 113~-114¾ 114¾-115¼ l15½-ll3½
Coupon, 1.894 .......... '7 ll~-11°" 117 -ll7 ....
ReQ'., 1894 ............. '7 lU -114 ....
. ... .... - .... .... - .... 113!1(-113¾ .... ... .... - . ... . ... - ... . . .. . - . ... .... . ... 114¼-114½ 116¾-1163(
.... .. ... 130 -139 . ... - ... .. .. - . ...
Penna. DtT.-Ooup .. ., 139¼-141 U2 -143 .... - ... . .... - .... 187 -H2 141½-142 .... - .... ..
... . 103¼-108¾ .... - .... .... ... .... - .... .... - .... .... - . .. . .... - . ...
Alb.& Susq.-lst m .. 7 101¾-101½ lOl½-102~ 102 - 102¾ 162½-102¼ ....
.... 180 -130 lS0¼-131½ .... . ... .... - .... 132¾-184¼ 180 -133½ ... . - .... 182¼-185
ll!lt coup., Q'Uar ...... '7 · ••· - .... 192 - 132 .... - ... . ....
... , ... - ... ... .... .... .... ... . .... ... - .... .... - . ... 188 -133 . - . ... . ... - .... .... - .... .... - .
ll!lt rel',, Q'uar ........ '7 .. ..
ll!lt coup., guar ...... 6 118 -121 121 -122¾ 122¼-123¼ ll~-120¼ 122¼-123 128 -1~ 123¾-124½ 123:1{-124~.£ 124 -124¼ 121 -122½ 122½-U~ 12J -128¾
...... - .. .. .... .... .... - .... ... .... 123~-123¾ 119¼-122½ . ... . ... .... - .... . - ....
ll!lt reQ',, Q'Uar ........ 6 .... - .... ... - .... ...
.... 145 -145 . ... .... 144 -145 .... - .... 147 -147 ... ... .... - ... .... - .... .. .. - ....
Renl!I, & Sar,-ll!lt .... 7 144 -144 .... - .... ....
.... .... - .... .... .... . ... - .... . ... - .... ... .... .... .... .... - .... 145½-147 144½-144½ .. . - . .. . .... - ...
Redl!ltered ....... ... 7 .. ..
no
111 -11~ 112!1:(-1127/4 .... - .... . ... - .... ....
111:1{-lll!I:(
.... .... - .... 112½-112½ 113 -113 109 -109
D el.L.& West.-Conv.'7'
-no~ 110½-110½
1~-138 140 -140 185 -135 .... - .... .... - ... . 13,!ij-188½ ....
.... . - .... 188 -138 136 -137¾ 140 -140 .... - . ...
Mort., 1901
.... 13:i -182 .... - ....... - . ... 185 -155 1'85½-1&~ 186,v-136½ 133¾-138% 184 -134 139 -189
8y1•.B'n &N.Y., lst .. '7 18()¾-182,§ .... - . ...
Morrll!I & El!ll!lex-lst.'7 141 -142 lSS¼-186 143 -14~ 144 -144 140¼-Hl¼ l41¼-142 148¾-144 142 -144 l43¾-148¼ 143¼-145 142¼-148½ l4S½-144
!Jd mort . ......... ...... '7 110 -110¼ 107¼-108¼ 10~-108¼ 108¼-109 108'(-109¼ 109¼-lll 110½-110½ 106%-107½ l0i½-107¼ 107!l;-108¼ 108 -108½ 1087/4-109)4
.... - ... .... - .... 121¾-121½ .... - ... . ... ... 122 - 122 1~5 -125 123 -124¼ .... - ...
1900 ................... ,- ne -118 119!1(-ll 0,. .... .... 126¼-128¼ 127 -127 126 -126 126 -127 125 -125 .... - .... 126 -126
!Js, 18'7'1-1901 ....... '1 1215 -126½ .... - . ... .. .. - .... 1215 - 12~ ....
Consol., Q'Uar ......... '7 18:3¼-13~¼ l85¼-186 135 -186 186 - 137~ l36¾-1S~ 184¼-188¾ 186¼-138½ 188 -139 138¼-1S9¾ 139½-142 HH -143 139¼-1419(
. .. 131½-132¼
N.Y. L. & W.-lst ... . 6 127 -127 128!1,(-129¾ 129 -129¼ 129 -180¾ 130¼-lS0¼ 181 -188 181 -181 lSl¼-181½ lS0¼-131½ 131 -181
... - .... 111¼-lll¼ lllx\7112¼ ... . .... 113¼-113¼
Construction ........ ~ 107JB-l~ 110 -ll0¼ 110 -ll0¼ 108¼-110 109¾-11~ 110¾-110% 111 -112
D enver & Rio G,-l'l!lt .7 119½-i21. 120 -121 121 -121~ 121~-121¼' 118¼-119 119¼-120 120 -120
- .... ... . .... 120½-121½ 118¼-119¾ 118_½-111}
id - ?'i'¼
76 - 77¾ 77¼- 78'( 77½- 79
77 - 78
New consol, 1936. .. 4 76¼- 79¾ 77 - 79'1! 75 - 77¼ 75¼- 79 7ij - 79¼ 77 - 78½ 75¾- 76
.... .... - . ... 80!,.(- so ..
D env .&R.G.W .-1st . . 6 '71 - 72 72 - 78 71¼- 71¼ 71 - 71¾ ... - .... ... - .. .. 75 - 75 81:1{- 83 .... - . .. ....
66 - 70
69 -7511!
60 - 65¼ 68 - 66
72 - 76
687~- 6~~ 65 - 72
Asl!lented, 1st .......... 6 66 - 68¼ 65 - 66'4 60 - 63
70½- 72½ 65¼- 70
78½- 78¼ 81 - 81
70¼- 76¾ 75 -7:'>
.. 71 - 72 .... r .... 72½- 77 70 - 77½ 77 - so
D env. So. P. & P,-lst .'1 7~-7~ 77
··•
D et. M. & ll'Iarq._.)
84 - 35½ 38%- 84'¼
36 - 38 .... 84 - 84
Landgrautl!I, 1911.3½ 84:'-t- 48 39 - 40% 86½- 40 M ' - 37 34 - 86
38¼- 38¾ 37 - 88
.. .. .. . ... . . ... .. .
.... .... - . ...
- .... . ... ....
1st, 1921 ............... 6 ....
99~- 99¼ ... . - .. ..
- . .. .... D et. D. C, &Alp,-lst . . 6 105 -105M l~-106 101:i -106 105:1{-105¾ 106 -107¼ 108 -10~ 10§¾-108 107~-108 107 -108 106¼-107¼ 107 -107¾ 10'7 -10'1'½
. .. .
D uluth & I. B,.-ll!lt ... 3 ....
- .... 94 - 94 81;¼- 93 92 - 98 02¾- 93 92 - 06 93½- 97 95:1{- 97 94 - 05¾ 97 - 97½ 1:16½- 97½
D ul. S.S.&Atl.,193'7.IJ .... - ... .... - .... 136¾-91 85 - 87 84 - 85 84 - 00¼ 88~- 94¼ 98 - 94½ 92¼- 98 92 - 92 92 - 92 92½- 92¼
118½-11~
.. .. - . 120 -ao
.... 122 -123 123 -128 128 -128½
E • Tenn. V.& G,-lst . .'7
- .... 122 -1213 l~-128¾ 12{)¾-121
.... - ... .... - .... .... . 108½-108¼ . •
Divisional ............. IJ 108 - 108 ....
.... . ...
.. . .... . 109 -110 110 ..J.10 .... ... .
E .T.V.&Ga.Ry,con G 91Sl1(- 99~ 98¼- 99¼ 98¾- 99M 99~-108 100 -102¼ 102~-108 102¼-108¼ 102 -108 101-½-108 102!1(-105¾ 102¼-104 101¾-10:J
111t Ext •• I'•• 1931 .... 3 ... . - . ...
.... .... - . ... ....
. .... . ... .
.... 03 - 93 98!1:(- 94 04¾- (14% . ... - . ... .... ....
.... .... .... - ... . .... .. .. .... .... .... . ... ... .... . ... ·•• · 93¼- 98¾ 93¾- 94¾ 94 - 95 94¼- 94¼
Mobile & Blrm.-lst.3 ....
....
...
.
.. .. - .... .... - ... .... 50 - 52¼ ...
.... .... . ... .... .... . .... - ... . ... - .
Ea st & W. Ala.- l ■ t .. 6
... .... E llz. Lex. & Bil'• S .... 6 97 -104 101¼-lOS 00 - ~ 00 - 97½ 97 -100 08¼- 0~ 99 -100~ 100 -101% {l9 -100¼ 100 -101 100 -101½ 101 -101
...
.
.... 119¼--119½ 110¼-119¼
... .
Erle-lst, Ext.\/891 .. '7 120 -120 li0¼-120n l22 -122 121 -121 119 -119 119 -12() .. ..
.... UIS -116 118 -118 ll8 -118 118 -118 .. .. .... .... - ....
- .. . 118 -118~
2d, Ext., 191 . ....... /J llS½-113½ 114¼-ll(~ 112 - 114½ ....
.... - .. . .... ... . 106 -106 110 -110 111½-111¼ 109 -111¼
100¼-106 107)4-108
. .. 3d, Ext., 1923 ....... 4¼ 105¼-107 .... - ... ... .
.... .. .. .... 115 -116 .... - ...
4th, Ext., 1920 .. ..... /} llS½- 118¾
- .... 114½-115¼ 113 -118 114~-UIS 116M-118 118 - 118
.
....
101¼-10!¼
.....
108~-lOi
3th, 1888 ...... ........ '7
... . ...
- .... .... - .... . ... - .. . .... .... .... - . ... .
102%-102~ 102%-103%
.... . ... - ... . .... - .... . ... - . .. . .... - .... 101 -101~ 100!1(-101¼ .... - .... 102 -102 102¼-102¼ 102½-102¾ 100 -100¼
~tla, Ext., 19!18..... ... 4 ....
1st, consol., gold ...... 1 185%-187 187 -187½ 182½-184 188 - 185 l~-13:> 13"'-185¼ 1135¾-136 lSIS¼-138 Ul5J,,(-136 135¼-136 135¾-136 135¾-136¼
.... 128 -128 .... ... .. .. - . ... . - .
1st consol. fd. coup ... '7 182 -182
.... - .. . .... - .... .. . 181 -181 181 -181 ....
ReorQ'an., 1st lien ... 6 106¼-107
.. . - . ... ..... . ... . 107½-107½ 104¼-106¼ 105 -105 105¾-105½ 105¼-1059(
- .... ... - .... .. .. -112
Dock
.....
...
.
....
,
1!4
llll,.(-112
111
112¾-115
-ms
Loni'
112½-114 l18 -118½
112¼-112¾ 112¼-113 112¼-113½ 114 -115 110½-111
lll¼-111¼
Cons. gold ........... . 6 116':(-117 117 -117 117½-118 115 -11~ 115¾-116
.... 117¼-119 llll¼-120 119½-120 116 - 116½ 115¼-117 117½-118¼
.... - .... .... .... ..,
... .
Buff.N. Y.&E,-lat.'7' ... . - .... . ...
.... .... - .... . .... - .... ....
.
. 140 -140 .... - ... .... N.Y. L. E.& W.New, 2d conl!lol. . ... . 6 97~-99% 04½- 99~~ 94½- ~ ~ - 99¾ l!6¼- 99¼ 9~95¾ 94M- 118¾ 97¾-~ 99¼-101% 100¼-102¾ 99½-101½ 00¾-98!:4
Col. trust, 1922 ..... 6 105 -105~ ....
.... .... - .... .... ... .. .. - .... .... - .... .... .. .
... .
·• · · 107 -107 .... - . ... 104¼-104¼ ....
i Fund. coup., 1969 .. ~ 90 - 90
88 - 00
87¼- 87¼ 86 - 88½ .... - .
- .... 87¼- 89¾ 90 - 0-1 91¼- 92 ul¼- 92 87 - 88
87¼- 87¼
- . ...
Incon1e .. . . ............ 6
- .... .... - ... . 52½- 52¼ .... - ... . .
. .... . ... .... - .... . ... - .... 65 - 65 ... .... ... . - ....
....
E rte & Pittsb.-Con . .. ,- .... - . ... 112 -112¾ ....
.... .... ... - ... .... - .... .... - . ... .... . ... .... - ... ...
.... .... --108
E v.& lnd'p,con,,1926.6 99 - 99 104 -lOi ....
... .... .... .... - ... 106 -110 108 -108 103 -108
- . ... - .... 107 =101 ..
....
-.17
....
116
-116½
116
E v.& T. Haute-Oon .. 6 116 -117 115 -117 118 -116½ 116¼-117½ 117 -119 119 -119 117 -118 119~-119¼ 118¼-119½
Mt. Vernon-1st ....... 6 107 -107 .... - .... ... - .... ... - . ... ... . - .... . ...
.... .... - .... ... .. . .... - .... .... - ...
F lint& P. M.-Mort ... 6 118 -118 l21½- 12t 119¾ 122!,.( l19¾-119½ 120 -120 ·•• · - .... 120 -120 121 -122 120 -122 119¼-120
F t.W.&DP-nv.C,-1.st .6 79 - 82
87 - 89
79 - 82
84 - 89½ 83
88 - es
~-93¾ 91¼- 93:ki 91~- 98 S7½- IJQM
7~- 81" 77M- s,
84
.... .. . 70 - 70 70¼- 71
G alv. H. & H. ot'S2. . ~ .... - .... .... - .... .... - ... . .. .. - .... ... .
.... ··• · - ....
. ,
....
.... - ... . ... - .... ...
G al. H. & SanA.-lst .. 6 105¾-106 101¼-101¼ 102 -103 102¼-108 106¼-106¼ 105½-l0d!,i .... - ... 104 -104 .. .. ~ mort ................. '7 104 -105¼ ... .... .... - .... ... - ... 103 -106 ....
.... - . ... 98 - 98 101 -102 ... - .... 106 -106
92 - 94¼ {l3Jg- \14~
Western Div-1st ... .3 91 - 92¾ .... - . ... IJO - 9<% 00¾- 00¾ 90 - 00" 90¾- 91½ 91~- 92½ 92 - 92¾ IJ2¾- 93% 98¾- 95
.... .... ... .. ..
G a. Co., N. c.-CoJ. tr ..;) ·••·
.... .... - .... ... .... .... .
- . .. . .... - .... . ... - . ... 95¼- 95½
G r. Rap,& lnd,-Gen./J 98 - 99¾ 98 - 98¾ ... - . ... .... - .... 00 - 97
.... 96½- 97 .... - .... .. 98 - 98¾ QS).(- 08!,.( ....
98 - 98
.... 60 - 80
G r.B.W.&St. P.-lst .. 6 99 - 00
97 - 07
90 - 00
95 -101½ 1~-102 100¼-101 101 -102 101 -103),,( 9~ - 95 .... - ... . ....
25 - 28
2d, income ............. .S 30 - 32½ so - 81½ 26 - 28 25 •. 38 32¼- 86!1( 80 - 37 36 - 42¾ 86 - 41
30 - RS½ 29 - S4¾ 28¾- so
G ulfCol.& S. F.-lst .. '7 t19 -122 120¼-121!,i 120 -122 119½-120½ 121¼-122¼ 121¾,-121% 118 -118½ 118 -111'¾ l17¾-118½ 117 -118½ 117¼-118½ 116:)--,d 19
87¾- 90
~d, 1923 ............... .. 6 96½- 97¾ 97¼- 97U 97¾- 977/4 94½- 95¼ 94¼- 95¾ 94¼- 95
89 - 93¼ 88¼- 91
94 - 96¾ 00¼- 96!1( 96½- 98
H an. & St. J o,-Cons. ti 119 - 12C~ 121 - 121¾ 118½-119½ 118 -119 119 -1111¾ 119 -119 119 -121 120 -121 118 -118 117 -118-¾ 118½- 119¾ 119¾-120¼
..
.. - .
H en. Bridge Co.-lst ... 6 10~-110 110 -110 t ~ l ~ ....
...
.
.
...
....
....
.
..
.
108¾-10~
108¾-108¼
. ... 110 -110 110 -110¼
....
H ousat'c~Uon.,1931 .. 3 ....
.... ....
107¾-10~ 105¾-106½ 106½-107
..... ... . - . ... .... . .. .
- . ... .... - .... .... - .... ....
H ous. & Texas Cent.ll!lt, M. L .... . .. ......... 7 114 -ll5½ 118 - 114¾ .... - .... 112 -112 115 -HS 119 -120¾ 121 -122¾ ....
.... 122¾-123 124 -124 124¼-124¼
M. L. Trust rec .... .. ... .. .. - ... . ....
.... 111 -111 104 - 110½ 110 -113¼ lt2!J,(-114 114.l1j-115¼ 115)4-118¼ 116~-117¾ 116½-117 112½-116½ 116¾-116¼
1st, Western Div ..... . , 118 -114¾ 112 -118½ ..
... . 125~-125¼
•.. 123¼- 124 ....
.. 116 -117 117¼-118 122½-122¼ .... - .. . ....
... . .
Trust receipts ........ ....
... . 108 - 108½ 100 -100 110 -110 ll~-113~ 112½-114 114!Jt-114!!,( 115¼-118
.... .... - .... 116¾-116¾ ....
w.&N.Dlv ...... . .... , 112!!:!-112¾ 114 -114 ... - .... 112 -112 ....
.... 105½-105¾ .... .... .. .. - ....
105 -106
2d, Main Ltne ......... 8 107 -108¼ ....
.... .... .... - .... ....
.... . ....
.... ... . - .... .... .... .... .... .
. ...
Trust 1·eceipts . ........ .... - . ... 102 -105 . ...
.... .... .. . 110 -110 105½-108 105 -110 110 -110 111 -112 lll½-112½ 112),(i-112½ .. .
Gen. M,, Trust ree ... 6 65 - 67
70
65 - 69 .... - . .. . 6.5 - 65
65 - 68~ 67¾- 68
65¼- 70 69¼- 70 70 - 72¾ 70¾- 71 68 - 68 70
I llinois CentralGold, 19~1 . ...... ... 3¼ 92 - 94 98 - 94½ 98¼- 94
... 93½- 98¾ 91 - 03!,g
94¼- 94¼ 94¾- 94i.a ...
95 - 00
92¼- 94½ fl5 - 95
1st llOld, 19151 ........ 4 lOS -105 104¾-106 105 -106 107 -101 lot -105 104¼-107 107¼-108 107 -1079( 107!1(-107¾ 107 -107 106 -107 107 -107
Gold, 1932 ............. 4 ....
....
... 98½- \18½ 99 -100
.... - .... .... . .... ... 101¾-102 102 -1~ 100 -101~ ... ....
Springt. Div., '98 .... 6 ....
....
.. . .... .... .... - . .. .... - . ... l17 -117 .... ....
.... .... - .... ... . ... . .... - .... .... .. .
C,St.L.&N.O.-lst,c.7 ....
117 -120 .. ..
. ...
. .... .... .... 119¾-121½
119 -119 .
.... 118 -118 .... . ... .... ....
- ...
. ...
'TlTennessee lien ..... . 1
119½- 119½ ... - .... ....
....
- .... 119 -119 ... - .... .... . ...
- .... .
Gold, coup ............ 3 115~-117¼ 117¼-118 115 -117¼ 118 -11~ 118¼-119 117 -117 117 -117 118 -118 118 -118 116 -117¼ 117¾- 117¼ ll/5}4- 118·
Gold, l'efl .... . .... ..... ~
.... . 114. -117 .... .... .... ... - . 11~-116~ .
... .... .... . ... ... .... - .. .. .... .
Dub. &S,C,-2dDiv .7 1l0½-111 lll¼-111¾ ....
.... ... . ... 112¼-112¼ ... . - ....
.... .. . - ....
.... ... ....
.... -··· - .... .
Cedar F. & M.,lst .. .1 80 - 85 80 - 80½ 75 - 75 75 - 75 65 - 70 65 - 65
.. . ··•· ... . - .. .. 80 - 80 71 - 80
67 - tY1
66 - 67
I nd. Bl.&W.-l8t,p1•et '7
... . ... - .. .. .... - .... 118 -118
-112
.... ... . - .
- .... 1110
.. 1st, 1909 ~........... ;j-6 llll¼-11""
.... . ... ....
S6 - 89¼ 85¼- 87 .. .. - • • • . 82
OS - 94½ 94 - 95 ....
- 82 .... - .. . 80 - 87¼ 84 - 98
·211. 1909... . ........ i>-6 68xi- 71¾ 65 - 65 .. .. - • • .. . •
- 70
- .... 65 - 65 67¼: 7'J 72~ 74½ 6~ - 68 .... .. . 64 - 64
Eastern Div ........... 6
81
- .... 68 -es 93¼- 95 95 - 95¾ 94 - 94 ....
- .... , 80 - 82
87 _ 87
. . _ 88 • . •• _
Con. income ......... .. 6 .. . - .•• , 16 - 18 15 - 15 16
22 - 22 .... - ....
24 - 25
- 21
- ••.. 17 - 20½ lli¼-23¾ 28¼- 25
Jhio Ind. & W.-lst .~
69 - 74!1(
....
84. - 85¾ 84~- 86ff 77 - 85
,,
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
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RAILROAD
BONDS.
60
1888-Continned.
BONDS.
--------nd. Dec. & ISp'gfield.-
JANUARY FEBR'RY.
MARCH.
APRIL.
MAY.
JUNE.
JULY .
- - - ----1---- - - - - - - - - - - - - - -
AUGUST. SEPT'BER. OCTOBER. NOV'BER. DEC':B.ER.
--- --- --- --- ---
Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High L ow.High Low.High Low.High
lst, ex funded coup .. 7 102 -102½ 103¼-103½ 100 -103½ 100 -101 101½-102½ 102¾- 102~ .... - .... 101½-102 100½ -103 97¾- 97¾ 99 -100¼ 100 -101
Ind,Dec.&W.-G.'47.:i .... - ....... . - ........ - ... . 90 - 90½ . ... - ........ - ........ - .... 80 - 80 80 - 80 82½- 90 .. .. - . ....... - ...
2d inc., 19-lS ...... . . .. :; ... - ........ - ........ - ... 60 - 60 . ... - ........ - .... ... - ........ - ........ - ........ - .... . ... - ........ - .. .
Income, mort .. . .. . . ......... - .... .... - ........ - .... 25 - 25 .... - •••. . ..
.. .. .. .. - ........ - .... .. . . - ........ - .. .. ... - ....... - .. ..
Intern, & Gt, No.-lst.6 l09 -111½ 99 -108½ 100 -104½ 90%-105 98,6-104% 103 -105 104¼-108 107 -107¾ 100¾-104 102 -103½ 10i - 105¾ 106½-100¼
Coupon, 1909 ......... ,6 71 - 77 70 - 72 64 - 70 61 - 67 67 - 71
65 - 66
66¼- 70
67½- 70
65 - 70½ 65 - 66
66 -*80
73 - 76
.Jefferl!lon-lst ........... , ... - ... . .... - . ....... - ........ - ... . 102¾-102¾ ....
.. ...... - ........ - . ....... - ....... . - ........ - .. . .. .. - ..•
Kan, C. & Om.-lst ... :; ... - ........ - ........ - ..... .. . - ........ - .... 80 - 90 86 - 86½ 86 ~ 86 .... - .. .. 86 - 88 89 - 91¾ 90 - 91
K.C.Wy.&N.W.-lst./i .... - ....
- ........ - ........ - ........ - .... 94 - 94
. .. - ...... .. - .... . ... - .... ... . - .... 93 - 94¼ . .. - . .•
Kentucky C., 1987 ..... 4 00 - 75 71 - 74½ 70 - 71 69¾- 70
70 - 78
71 - 72½ 69½- 71
70½- 71
71 - 73½ 71}4- 73½ 73 - 'i3½ 72½- 78%
Knox.&O.-lst,1921>.6 89¾- 94t2 92¼- l.12¾ 91 - 92½ 90 - 98 96¾- 98 98 -100 95½- 96
95½-100
08 -100
98 -104 102 - 104½ 102 -103¾
Lake Erie & W.-lst . . I) lOl½-104 103 -105 105 -105¾ 103'4-106¾ 107½-llv 105 -108½ 105 -106½ 105¼-106 105¾-107 106½ -107½ 107½-108½ 108%-109
Lake Shore & M. So.Cl. Pains.&Asb ..... .1 lll¼-111¼ lll¼-111¼ 112¾-112¾ .... - ........ - .... lll½-112¾ 111%-111'¼ 112 -112 .. .. - .. . . 109½-110¼ .... - .... 110¼-110¼
Buff. &Erie-New .... 7 110¼-128 121½-122 .... - ....... - .... 120¼-120½ 121 -121 122 -122 .... - .... .... - .. . mo -120 120¼-120¼ .... - ••••
Kai.& W.P.-lst .... 7 104½-104½ .... - ........ - ........ - ........ - ........ - ........ - .... 103½-104½ . ... - .. .. .... - ........ - .. . .... . - ••••
Det. Mou. & Toi. ..... 7 129 -129½ ...• - ........ - .... 127 -128½ 128 -128 129¼-129¼ ... - ........ - ........ - . . . . .. - ........ - . . ...... - •·••
L. Sho1·e-Dividend . . ')' 1~0 -128 122 -122!J( 123½-!23½ 120¼-120¾ 121 -121½ 121½-121½ 122½-122½ 123 -123 124 -124 .. .. - . . .. 121½-121¾ .. .. - ••••
1st con., coup ........ 7 125¼-127 125 -126¼ 125~-12!!>¼ 125½-126 126 -127¾ 128 -128½ 125 -125 127 -128 127 -127¾ 127¼-127¾ 127½-128% 128½-120¼
1st con., reg ....... . .. 7 125 -126½ 124¼-125 123 -125~ 123 -124 124¾-125 125 -125¾ 124½-125½ .... - .... 124¼-125¼ 125½ -126½ 128 -126½ 125 -12~
2d con., coup ... ...... 1 122¼-125 124 -125 122¾-124 124 -125 l24¼-rn6¼ 123 -124½ 124 -125¾ 124¾·125½ 124¾-125½ 125¾-126½ 12t3½-127 123 -124
2d con., rci: .... ...... 7 122¼-124¾ 124¼-125 123¼-123~ 123¼-125 121¾-125).,; 122¼-123 rn4½-125 124¾-125 124%-124¾ 125¾-1 26¼ 126~-126½ 123 -124
Mahoning Coo.I ltR .. ~ 102¾-103 .... - ........ - ....... - ........ - .... 105¼-106¾ .... - .... 105 -105¾ .... - .. . 108 -106½ 106½-107 100 -109
Little R. & F. S.-lst 7 ... - .... 108½-108½ .... - •. .. .. - ........ - .. . . ... - . . ...... - .. . .... - ........ - •· ....... - .. .. .. . . - ... . · ... - · · ••
Lonir Island-1st ........ ,- 120½-121 .... - .... 121 -121 122 -122 119½-121Xi 120½-122½ .... - ........ - .. . 122 -122 123 -123 .. . . - .... 120 -120
1st, consol. ..... ....... .:; 111 -111¾ 111¼-111¾ 112 -112 118¼-113¼ 114 -114 115 -115 114 -114 .. .. - .... 114 - 114 .... - . . .. 114 -115 115¼-ll~
Gen. n1ort., 193S.... 4 .... - ........ - ........ - ........ - ........ - ........ - .. . . ... - ... . ... . - .... 92½- 92½ 93 - ll4½ 94 - 94½ 92 - 92%
Louisville &NashvConsol. .... . ..... ......... 7 120 -121 121 -123 120 -121 116½-118 !18 -HS½ 118½-119 •••. - .... 110½-119¾ 119¾-120¾ 116 -118 118 -118 118 -119
Cecilian Branch ...... 7 107¾-10:<¾ 108¼-109 104½-105 105 -105¼ 106 -loe¼ 105 -105¼
- . . ...... - . ...... - .... .... - .... 107¼-lOi½ .... - ... .
N. O. & Mob-lst ..... 6 108¼-110 110 -110 112 -112½ 112½-114¾ 114 -!14¾ 114½-115 111 -112 115½-115½ 114 - 115% 114½- 116 114 -114 113 -11~
!:d ............ ........... 6 96½- 97 99¾- 99¾ 96½- 97 98 - 09 100 -100 .... 1187/4-100 100 -100
.. - .. 00½-100 100 -100 .... - ... .
E. H. & Nash.-lst ... 6 .... - .... 114 -!14 114 -114 115 -115 .... - ... 115 -115 114 -116½ 115 -115 116 -116 114¾-114¾ . ... - .. 114 -114
Gen'l mort .............. 6 109¾-113 112¼-118 113 -114 113½-114~ 114 -115 111 -112 111½-114 112¼-114 113½-114 112½-113½ 114¼-115 111 -112
Penl!lacola. Div ........ 6 ... - ........ - .... 100 -101 101¾-101¾ 108 -104 .... - ....... . - ........ - .. . 103 -104 103 -106 .. .. - ........ - ... .
St. Louis Div., 1st .. 6 115 -115 .... - ........ - ... . .... - .. .. . .• - . ....... - . ....... - .. .. .... - . . .. . ... - .... .. .. - .... 115 -115 .... - ... .
2d .. . ............ ......... 3 .. . . - . . .. .. .. - .. . . .. . . - .. . . . . .. - . . . . .. . . - .. . . . . . . - . .. . . . . . - . . . . . . . . - . . . . 58 - 58 58 - 58 .. .. - .. .. .. . · - ...
Nash. & Decatur...... , 116},g-117,4 ... - •.•• ....
.. ...... - .... 119 -119 .... - ........ - ........ - .... lll)¾-120
- .. . 121 -121 ... - •••
Trul!lt bonds, 19~~ ... 6 108 -110 108¾-10~ 106¾-107¾ 106¾-109¼ 109 -110¾ 109 -110¼ 108½-110¾ 1001},!-110½ 10d½ -lf9 108~,!-100¼ 109¼-100¾ 108 -109
Ten-Fo:rtv, 19~4 .... . 6 .... - .... 104 -104 .... - .... 104 -104 .... - .... 101 -101 .... - .... 101¼-101½ 103 -103 103 -103 102 -102 101½-lOI¼
Pensac. & Atl.-lst .. 6 .... - .... 95 - 07 .... - .... 94 - 94 03¼- 94 06 - 96
96½- 09¾ 05 - 96
04 - 94
95 - 06
96½- 08½ 96½- 98
1>0-yr. gold, 1937 .... ~ 100 -101 100 -101
90½-100 10()¾-102¾ 007,ii-101 100 -101¼ 100 -100 100 -100 100¼-100¾ 100¼-100¾ 97½- 07½ .... - ....
Lou. N. Alb, & C.-lst.6 109 -112¾ 109¼-110~ 108 -110 107)4-110 110 -114 112 -115 111 -114½ U Z¼-1Hl1! ll4 -114½ 113)4-115 113½-115 115 -116
Con., gold, 1916...... 6 90¾- 93
91¾- 92½ 91 - 92
87¾- 91
89½- 92½ 90 - 92
91 - 96
95 - 97
05½- 97
94 - 04½ 92 - 94¾ 93 - 93¼
Louis. N. O. & T.-ll!lt.4 ... - ... 80 - 82 85 - 86 .... - ... . 87 - 87 87 - 87 87 - 87 Si½- 87½ 88 - 86 .... - ... 87 - 87 87 - 87
lllem.& Cha.s.-Gold ... 6 100 -1027A lOOX1-101¼ 101 -102 101 -103¾ 104¼1-105 10! -lOf>½ 102%-104~{? HJ3¾-104¾ .... - . . .. 105 - !Of% 104½-105¾ 104 -105
Metropolitan El.-lst .. 6 113½-116¼ lll½-114 108¼-113½ 100,(-113 113 -117 113 -116 112 -114¾ 114 -11 4¾ 114 - 115 114 -115 114¼-116½ 115 -116
2d, 1899 ..... ......... .. 6 103 -105¾ 103¼-lOi 104 -107 104 -107½ 104¼-106½ 104¾-105½ 105½-108 106 -108 106½- 108 107 -109 105 -106 104 -106
Mex.Cent.-Newass•t.4 66 - 67 65¾- 65¾ 68 - 68 71 - 71¼ .... - ........ - ........ - . ....... .... - ...... .. - ........ - .... 67 - 67
Income, 1911 .. .... ... 3 20 - 20½ .... - .... 17~- 17½ 21 - 22½ .... - .... .. - . . . .. .. - .... 20 - 20 . ... - .... .... - .. ... ... - . ... 22%- 227A
lllex. Nat.-~dinc."A"6 .... - ........ - ........ - ........ - ....... - ........ - ... . .... - ........ - ........ - .... ... - ... .. ... - .... 62 - 63
2d income "B" ........ 6 ... - ........ - ........ - . ....... - ........ - . ...... - ........ - .. .. .. _ ........ - .... . ... - .. .. . .. - . . .. 18 - 18
Mlch.Cent-lst,consol.7 127 -128½ 128¼-130 128:ij-l~ 128 -130 126 -127½ 128 -130½ 13Q -131 ISO -130½ 129 -131 131 - 132½ 128¼- 130¼ 131¼- 131½
1st, comwl.. .. .......... ~ 110 -110¾ 100½-110 110 -110 109 -110¼ 107½-107½ 108¼-110 110 -110 110½-111¾ .... - . . .. 112 -112 .. .. - .... 110½-110,9
,1909. .... .. .. .. . . .. ... 6 .... - ........ - ... . .... - ........ - . ... 120 -120 .. .. - ........ - .. .. .. _ .. .. .... - .. .. .... - .. .. .. .. - ........ - .. ..
Coupon, 1931 .......... ~ 108¼-109¾ 110¼-lllll.( 10~108¾ 112 -112 113 -114 113 -113!),4 ... - ..... . . - ....... - ... 111 - 111¼ 111 - 111¼ .... - ...
Registered, 1931 .... .:; .. - ........ - .... 107½-109 .. - . . 114 -ll4 .... - ........ . . 11 l - 112 .... - .. .. 111 - 111 111 -112¼ 112½-112½
Jack. L.& Sag.1891.6 .... - .... . ... - ........ ... . - ........ - .... 104 -104 . ... - . . .. 106¼-106¾ 103).€-103½ .... - .. . . ... - . . 104~-100
Mid. ot N . .J.-lst ........ 6 lll½-113½ 112¾-118¼ 112 -114 100 -110% 110¾-112¾ 113 -113% 113½-114% 114 -114 114~~-115!,i 112)4-113¼ 113 -114 114 -115,9
Mil. L. Sb. & W.-lst .. 6 119½-120½ 119 -120 120 -121½ 120 -121¾ 118~-118¾ 118 -119 118¾-119½ 119 - 110¼ 119 -120 118½-120 110 -118¼ 110 -119
Conv. deb ............... i) .... - .... 88 - 89½ 88¼- 89¾ 88 - 88½ 88 - 88% 88 - 89¾ tlO - 92 89½- 90½ . ... - .. .. 88 - 90½ 88 - 92¾ 00¾- OS½
Income . .. ............. .. 6 100 -100 102 -102 99 - 99 08 - 98 08 - 98 .... - ........ - ... . .... - .... . ... - .. .. .. .. - .. ...... - ........ - •••.
MlcbignnDiv .......... 6114 -115 118½-118½ UO -113 114 -!14 110½-110½ 115 -115 113½-113½ 115 -115 .... - .... ,lll¼-111% 112 -112
... - ... .
Ashland Div., lst .... 6116%-117¾ ... - .... 113½-113¾ 116 - 116 .... - .... 114 -114 lH½-114½ . ... - .•. 111½-lll½ 112 .-112¼ 113½-113½ .... - .. ..
Mil. & No.-lst, 1910 .6 105½-110 110 -110 no -111 109 -110 110 -111 106½-108½ 108½-100 108¾-lOi.l 108½-100 108½-108¾ 108¾-109½ 100 -106
1st, on exteu., 1913 .. 6 104¾-108 107¾-108½ 108 -108¼ 107 -108½ 107 -108 105 -106¼ 106 -107 107 -107½ 107½-108 107¼-107¾ 107¾-lt 8 104 -105
Minnenp.& St.L.-lst. ')' 105 -110 102 -102 102 -103 104 -110 106 -106 91 - 01
93 - 93
00 - 1!6
... - .. .. 95 - 07
94 - 97
00 - 91¾
Iowa Extension ...... ')' 95 -100 98 - 98 . •• • - .. .. 95 - 05 95 - 95
.. . - ••• . . . .. - . . .. 84¼- 84% 88 - 88
89¾- 89¾ 86 - 86
80 - 80
2d n1ort., 1891 ........ 7 .. . - .. . . . .. . - .. .. .. .. - .. " .. . . - .. .. . . .. - .. .. . . - . . .. .. .. - . . .. . . .. - . . . . . .. . - . . .. 60 - 60 .. . . - .. . . .. .. - .. • •
i3o. West. Ext., lst ... 7
- ....... - ........ - ........ - ... . .. - ... 75 - 75 .... - ........ - ...... .. - . . . . .... - ........ - ... 82 - 82
Pac. Ext. 1st ........... 6 ... - . . . . .. . - .. . . .. . - ........ - ........ - ........ - ....... - . . . . . .. - . . .. 95 - 05 .... - ....... . - .... •• .. - · ·• •
Imp. & equip,, 1922.6 53 - 55 50 - 59 .... - .... 51½- 51½ 50%- 53¼ 50%- 50¼ .... - .. .. .... - .. ..
- .. .. 56 - 56
56 - 56 •··· - •··
Minn.&No.'\V.-lst,g .. 5 .... - ........ - .... 88 - 98 l.18 -100½ 100½-100½.. - .... ... - . . ...... - .... .... - . .. .. ... - ........ - ... 05 - 95
Minn.S.S.M.&At.lst.5 .... - ....... - ... . .... - ....... ... - .... 92¼· 03 92¼- 92½ . . . - ... . . . . - .... .... - . . .. .. .. - . .. ....
.. ••
lUo.K.&T.-Gen. con .. 6 68 - 73Ji4 68 - 71 60 - 68½ 60½- 60% 61%- 70 57½- 68½ 65 - 68½ 65 - 68¾ 64 - 68¾ 60¼- 64½ eo},4- 64
llO½- 63
Gen. consol, 1920 .... 5 59 - 63¼ 50 - 62½. 50½- 59 52 - 61 54¾- 61" 50½- 61½ 58 - 63 60 - 64¼ 50 - 63 55½- ro 56 - 50n 55½- 58¼
Consol., 1904•1>•6 .... 7 104½-106½ 99 -102¾ 90 -101¼ 94½- 90½ 94¾- 99½ 93 - 98
95½- 98
95 - 98½ 92 - 96½ 88¼- 04½ eo - 92
89½- 9 1 ½
Mobile & Ohio-New .. 6 108½-116 111:> -115 lll½-113 112 -115 113½-115¼ 110¾-113 112½-112½ 113)4-114 11 3%-114½ 113 -113 114 -114 110½-110½
1st, exten,, 1927' ...... 6 105½-105½ .... - ... . ... - ........ - ........ - ........ - .... 104½-104½ .... - ... . 103½-104 103 -103 .... - .... ... .
.. •.
1st pref. debenture ... , 45 - 50 49½- 51 43 - 51 45 - 50 48¼- 50 46 - 48½ 49 - 51% 52 - 54¾ 54½- 54¼ 56 - 56 .... - .. .. • • • • ,,
2d p1•ef. debenture .... 7 25 - 26 25~- 28½ 25 - 28 26 - 28 28 - 29¾ 25½ -27 ... . - ........ - . . .. . .. - .. ... ... - .. . .. . .. - . .. . . ..
••
3d p1•ef. debenture .... 7 20 - 21 !.11 - 23½[ 20 - 20 21 - 24 24½- 27 24½- 26!4 .. . . - ... .... - ... . 25 - · 25 .... - .... .. .. - .. .. ....
• ••.
~~~~~~: :::;~~.~~-~: :! ~~ =
18
8t.L.& Ca.iro-Gunr.4
Mo1•gnn's L.&T.-lst .. 6
Mutual Un. T.·-S. F .. 6
No.shv.C.& St.L.-lst. 7
2d, 1901 ..... . .. ..... ... 6
Consol. g., 1928 ...... /i
Now J. Junc,-lst . . .... 4
New J. South.-Guar .. 6
N.O.Pac.-lst, tr. rec .. 6
N.Y. Cenu·al-Ext ...... /i
N.Y. C.& H.-ht,cp .. 7
1st, 1·eg .......... ..... . 7
Debe~tnr~ . ... ... .... /)
Reg1ste1 od . ... .... .:,
Can. So.-lst, gnar .. .. I)
'Jd mo1•t.. . .. .. . .. .. . 1)
Ho.t•lem-lst, coup . . .. 7
~
... -
.
~~½=
~~ ... ~~ =~~..
... - ....... - .. ..
20
~= ~~: .~~.¼= ~~~
:: =::~ ;~~= ~~
- .... . .. - . ... 72 - 72
47½= 50. .47 =49¾.48 =50 ... 4°5 =49 ... 38 =42~
.. . . - . . . . 73 - 73
72¾- 72¾ . ... - ... 72 - 72 .... - .. ..
........ - .... 'l.07¼-107¼ 108 -108
.. - .... .. .. - .... 106 -106 110!14:-ll( ¾ 111¼-lll ¼ .. .. - ... . 109¾-109½ .... - .. ••
84½- 86½ 88 - 93½ 91½- 93
91 - 93½ 90½-' !JS½ 02 - 93¼ 92½- 99
96¾- 97¾ 98½- 98
97¼- 98
94 - 94\¼ 94¼- 90¾
128¾-130 1~9½-180 129¾-180½ 12\1½·130 130 -130 130 -132 129¾-130 129¼-130 129 -130 130 -130 L29¾-la0¼ 133 -188½
105¼-106 106 -106 .... - ........ - .... 107½-108¼ .. . . - . . ...... - . .• . . .. - .... . .. - .... 108½·108¼ 108½-108½ 110½-110¼
.... - .... .... - ........ - ........ - ........ - .... 98 - 08½ 118½-100
99½-100¾ 99¾-100% 97:¼- 98½ 08 - 98½ 98¼- 98¾
.... - ........ - ........ - .... 102½-103½ 103 -103½ 104 -104 103¾-104 . .. . - ........ - . . .. .... - ..... ... - .... .. .. - •...
99 - 99¼ 99 - 99 .... - ........ - ........ - ........ - ...... . . - .. . ... .. - .. . .. .. . - .. . . . .. - .. . . . .. - .... .. .. - ... .
75¼-' 80
77 - 77¾ 71:> - 77½ 76½- 83¾ 81 - 88 .... - ... .. . . - ..... . .. - ........ - .... .. .. - .. .... .. - ....... - .. ..
104¼-105 105¼-106 105 -106¾ 105)4-106 103 -104½ 104 - 106 105 - 105¾ 106 - 106¼ 108 -106½ 105½-107 10312-104¼ 104 -104~
132¾-134½ 133½-185 133½-134 133 -134½ 133¾-135 1136 -136¾ 133 -134½ 134¾-135 134¼-135 135 - 136¼ 136½-136½ 136½-137
132½-134 134 -134½ . ... - .... 188 -133 133¾-135 131 -13~ 132 -133½ 132)4- 133¼ 133 - 134 134 -134 185 -136 135)1;-185½
109 -100¼ 110 -111 108¾-109 10\l¾-109¾ 1~·110½1110 -111½ lll¼-112 111¾- lll¾ JlO -110¾ 110½-110;1-4 110¾- lll 1110¾-lll¼
109 - 109¾ 110½-110½
- .. . .. .. - . . . llO - 110 . . . - ... . .... - .... 110½-110¼ ... . - .. . .. .. - .. 111 - 111 .. .. - .. . .
105½- 107 105)4-107 105 -106 105¼-106¾ 106)4-108½ 108 -10&'4 106 -107½ 104¼-107¾ 104¾-106 1049,(-106¼ 106 -107¼' 107¼- 109¼
92¼- 94½ 93 - 94½ 89¼ 91½ 8P½- 93191 - 93
91½- 93
92½- 94½ 94 - OB%/ 91;¼- 98
01¼- 93
91½ - 02¾1 01 - 94¼
128½-180 131 -181" 130½-131¾ 130¾-181 128 -128 !128½-129 131¾-131½ .... - .. .. ' ... - .... 133½-133½ 130¾- isO½ 130½- 131
.... . . ....... , 133 -138 130 -131 182 -182 127½-181 127½-128½ 128 -129 129½-130½ 131¾-131¾1132 -132¼ 133 -133¾ 130 - 130¼ 130 - :..11
1
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
BAILROAD BONDS.
1888-<Jontinued.
JANUARY FEBR'RY.
MARCH.
APRIL.
MAY.
JUNE.
JULY
AUGUST. SEPT'BER. OCTOBER. Nov'BER.
DE0'BER.
- - - - - - - - - - - - - - - - - - - - - - - - - ---- - - - - ----·-·l----1-----
BONDS.
Low.High Low.High Low.High Low.High Low.High Low.Ulgh Low. High Low. High Low. High Low. High Low. High Low.High
N.Y.Chlc.&St.L.-lst.4 86¼- 90¼ 88¾- 90 fS¾- 89¾ 86½- 90 89:),(- 00'¼ 90½- 92
02 - 93
92 - 02l':l 9i;li- 93¾ 91 - 91~ 91¼- 92½ 01 - 92
N. Y. Elevated-1st ..... ? !14¼-117½ 114¾-116 114 -116 114 -116 115.1¼-1173{ 117,u-118~ 114 -115 114¼-116¼ 115¾-117 116½-117 116¾-117¼ 117½-120
N. Y. & N. Eng.-lst ... 7 121½-124½ .. .. - ........ - .... 122½-125¾ .. • - .•• •... - .. ...... - .... ... . - .... 124½-124½ 125 -125 . ... - .... 120½-126½
1st, 1905 ...... ....... .. 6 112 -112 . ... - ........ - • ....••• - .... . .. - .....•. • - ........ - ••• . .••• - •....•.. - ........ - .•. 115 -115 115¾--ll~
N.Y.N.H.&H.-lst,1•g.4 I.... - ... 105 -105 .... - ........ - ........ - ........ - ...... . . - ..•.•.•• - •••••••• - .... 111¾-111¾ 110 -111¾ 110 -110¼
1
.N.Y.&North.-1 st,g.fjl02:}t;-106 105¾-lC,6 106 -107 105 -105 105 -108 107¼-lCS • .•• - ........ 108½-108¾105½-107½ 107,u-107½10;¾-107¾
~d. gold, 1927 ......... 4 50¼- 57% 51 - 54
52¾- 54
51 - 53¾ 60 - 54
EO - 50
51 - 58
56 - 58¾ . .•• - . . . . 55 - 57¾ 55½- 56
c;a - 52
N.Y.On.&W.-lst, g .. 6 109 -113 111¾-118 109 -110¾ 110 -112 110½-114½ 112¾-113 113¾-115 113½-115 lll½-112 110:l-(;-112 110½-112 111½-US
N.Y. Susq.&W.lst refund, 193'1 ..... 5 91 - 93
91¾- 92½ 90 - 02
l,10½- 92'/4 92¾- 92¾ 92 - 94½ 92 - iJ!¾ 94¾- 95¾ 94½- 95¼ 94~- 95
94½- 95
91¾- 973,s
2d mort., 1937' . ... 4½ 75 - 'i5
... - .. . . .••. - ........ - .•••.• - .....• . • - •••. 74 - 77¾ ...• - ........ - .....•. - ........ - ........ - •••
No1•1.&West.-Gen.M.6 112½-1173,s 110 -117 116½-118 118 -118 1161,(-118 .... - •... 118½-120¾ 120 -120½ 120 -120 119¼-120 116 -116 11~-117
New River-lst ... .... 6 . ... - . . ..... . - ........ - ..
.. - .... 113¾-114 ... . - .... 115 -1 15 . ... - ........ - . .. . . •.• - • .•. 111 -111 ..•• - .. ..
Imp. & ext., 1934 .... 6 100 -101 102 -102 102½-102¾ 105 -105
. .. - .... 113¼-113½ .••• - .... 109 -109 106¼-106½ .••• - ..... ... - ........ - ... .
Adj. mort., 1924 ..... 7 104 -104: .... - ........ - .... l08 -108 110 -110 . ... - .... 112 -112 112½-112½ ..• • - ........ - •.•. 109 -109 .... - ... .
Og. & L. C.-lst,con ... 6 101¾-101¼ .... - . ... .... - ........ - ...... .. - ..•.... . - ........ - . ... . .• - .... .... _ ..•..... - ....... - ........ - .. .
Ohio & Miss. Con.s.1 .. 7 114¾-115 ll5¾-116½ 116¾-117 ' 16 -117 1!7¾-117¾ 117¾-119 115¼-115½ 117 -117 117 -117 117 -117½ 117,u-118 ...• - ... .
Consol., 1898 .......... 7 114½-115 115¼-115¾ 116¼-116x- llo¾-116¾ 116l}.(-117½ 117 -119 115 -116 117 -117 117 -117 117'4-117¾ 117½-118¾ ll>-'. ¾-118¼
2d, consol., 1911 ..... 7 117¼-117¼ 117 - 1:!.8 lli¼-118)1 L16 -117 117 -118½ 117 -118½ 118 -119 .... - ........ - .... 117¾-llll¼ 119 -119 119 -119
1st, Spring1. Div ...... 7 .... - .. . . 108 -11J8 .... - . ... 109¾-109¾ .••• - .... 106¾-106¾ .... - ........ - ........ - ........ - .... 106}4-106~ 106¼-106¾
Gen. mort, 1932 . .. . i'i .... - .. . .... - ........ - .... .. - .... 96 - 96 ... . - . .,...... - ........ - .... ... - .... .... - ....... - ........ - ... .
Ohio River R R.-tst .. a 97 - 97 .... - ........ - ........ - ....... . - . . . . .. - ........ - .....•• . - .. ...... - ........ - ........ - ... . · · · · - • · · ·
Ohio Southern-lst .. .. . 6 99¾-104 102 -104¾ .... - .... 1.02¼-105½ 105¾-106½ 102 -102¾ 102½-108 103¼-104¾ 108¼-1015 105 -105½ 105 -106 103 -104¼
2d, income.. .. .. ..... . 6 81¾- 84
32¼- 33½ 29 - 82
29 - 40
85 - 38¾ 83 - 87
36 - 88
87 - 427/4 42¾- 49
45 - 50
43¼- 45¾ 40¾- 40
Omaha& St. L.-tst .. 4 75 - 76
73 - 75¼ 70 - 74
71¾- 78
72 - 73
72 - 75
73 - 74¾ 73 - 73
72 - 78
73 - 74½ 73¾- 74½· 73¼- 74¼
Oregon & Cal.-lst . . . 5 .... - ........ - .... 91¼- 91¾ .•. . - .. .. .... - .... 96 - 96
94¼- 94¼ .... - •.. . . .
- . .• . ... - ........ • •·· - • •·
Or. R'y. & Nav.-lst ... 6 109 -110 108:),(-109½ 109¼-109¾ 1093,s-110¼ llO!>tj-113 111 -112 109¾-110¼ 109¼-110 109¼-110 109¼-lll 110!)4-111½ lll½-113
Consol., 192~ ......... fj 96¾-100 99¼-100
9S¼- 90¾ 99 -101¾ 102 -104 101 -102 101¾-108 102~-104 102¼-103½ 102¼-104 104 -104¼ 101 -102
Orea-. Imp. Co.-lst .... 6 94¼-100 98¾- 99}. 97½- 98¾ \/7 -102¼ 101¼-105 100½-101½ 101¼-104¾ 104 -104¾ 104¾-105 10~-106¼ 105¾-108 108¼-105¼
Oregon Trans.-lst . ... 6 03 - 96
94½- 96½ 94¾- 96¾ 95 - 9~ 95¼- 99¾ 9e - 68¼ 97 - 90¾ 99½-100¾ 101 -102¼ 102 -103 100¾-102¾ 101 -101¾
Prtcific RailroadsI
Cent. Pac., ir., 189~ .. 6 113½-114 118½-113¾ 114 -114% 114¾-114¾ 114¾-llf¾ 116 -116 113¾-11~4 114¼-114¼ 114~114% 115 -115 .... - .... 114!)4-115
Gold, 1896 . .. ... ..... 6 113½-1!.S¾ 113¼-113¾ 114 -114¼ 114%:-115 114¼ -l:!.f>¾ 116 -116¼ 113¾- 113¾ 114¼-114¾ 114¾•114~ 115 -115¾ ...• - .... 114¾-116¾
Gold, 189'7' . ......... 6 118_½-113iii 114 -114 114 -114¾ ~14¼-115 114~115¼ 115¼-116¼ 113¾--114½ 114¾-114¾ 114¾-115 115 -115 .... - .... 114¾-116
Gold, 1898 ..... ... ... 6 118½-114¼ 114¾-11!¾ 114 -114¾ 114:14-115¾ 115 -116 116 -116½ 114 -115 114%-115¼ 114¼-115 115 -115¼ 115 -115½ 115½-117
San Joaquin Br .. . .. 6 114¾-114¾ 115¾-115¾ .... - .... llll½-118¾ 118¾-114¾ ll(¾-114¾ 116¼-116~ .... - . •..
- ....... - ........ - ..••
Cal. & Ore., s. "B" ,6 .. - .... 102 -102 .. . . - . .. . .. . . - .. .. . . . . - . .. . . . . - . . . . . . . - • .. . . . . • - . . . . . . • • _ . . . . . . . . - . . . . .. .. - .... •,.
.. ,.
Land arrants ... ..... .. 6 102 -103¼ 103 -103 102½-108 100 -100 101¾-102 102¼-103 ...• - .... 103 -103¾ 103¼-103½
- .... 101 -101% 101½-102¾
Mo1·t. bonds, 1936.6 102¼-103¾ 103¼-::.04¼ 103¼-104¾ 101½-102¼'. 1C2 -102¾ 102%-103¼ 102 -102½ 101¼-102¾ 102%-105¼ 102 -103'A 102¾-105 104¾-105¾
Western .Pac ......... 6 110¾-111 110¾-lll 112 -112 111¾-112 118 -113 115¼-115¾ 112¾-112¼ .••• - .... 112½-112½ 112 -112¾ 112¾-'13 113¼-114¼
No.Pac.-Gen.lst, l.g6 115¾-ll~ 115¼-116¾ 116¾-117¾ 117¼-118)4 118 -118% 118¾-119½ 116 -11':'H 116;.(-116¼ 116 -117 116 -117¼ 116¾-117½ 1173,4-119
Gen.1st, I. g., 1•eg .. 6 .... - .... 115¼-ll..i¾ 115¼-117 117 -118 118¾-118½ 118 -119¾ 116¼-116¼ ..•• - .... 116 -116 116¼-116¼ 116¼-116½ 114¾-118
Gen., 1. g.,2d,1933 .. 6 102 -1015¾ 104 -105¾ 105 -105½ 102 -105¼ 105¼-108¾ 106¼-107 107 -110¾ 110¾-111¾ lll¼-113¾ 109 -110 108¾-110¾ 109 -111
Gen. g., 3d, 1937 .. 6 . ... - ... . 90¼- 91
91 - 91¾ 91½- 92¾ 92 - 98
89 - 00¼ 89¾- 96
94¼- 97
97,½-101
98¼- 99
0&¼-100¾ 96.½- 97¼
St. Paul & No. Pac.6 118 -119 115¾-116¼ 115 -115¾ 115 -115 116 -lld¾ 115½-117 .•.. - . ... 116¾-118¾ 117¼-117¾ 118'(-120 •••• - .... 120¼-121¼
JamesR.Val .-lst.6 ... - ....... - .... 104 -10.i .... - ..... .. - ....... - ........ - .. . . .••• - ... . 10:5 -105 .••• - . . .....• - •...•••• - •···
Spokane & Pal.s.f,6
- ........ - ........ - . ....... - ........ - . . .. 99 - 99
99 - 99 101 -101 101½-IOS 102 -104 101¼-101¾ Wl¼-101:1,(
Dul. & lUan.-ht ... 6 ~00 -100 99¾ 100
99¼- 99¼? 99¾-100 100 -100 102¾-103 100 -100 100 -101½ 100¾-101½ 101),(-10~ 102 -102 102½-lOi
Do.Dak.Div,,lst.6 .... - .... 10) - 100 .. . - ........ - ........ - .... 100 -100 100 -100 .••• - •... 101¾-101¾ 101¾-101.½ 102 -102
99,½-100
No. Pac.Ter.Co.-ht6 99¾-102¾ 102 -102~ 101 -102¾ 10v -102 02 - 105 105 -105.½ 108 - 105 1041,(-105~ 104¼-106 105¾-106 106 -106}c 106 -106½
S o. Pac. Cal-1st ..... 6 lll¾-118 112¾-113% 114 -116 lll¾-112¼11~-114¾ 114½-115 115 -11~ 1153,s-115¼ 115 -i.15 112 -112 110 -112 111 -112½
So. Pac., Al'iz., 1st . 6 .. .. - ........ - .... . ... - . . .. . .. - ...... .. - .... 108¼-108¾ 105 -107 107 -107¼ 107½-107.½ .... - ... . 108 -108 105 -109
So. Pac. N.Mex.-lst 6 L05¼-107¼ lO'i¼-108 108~-108½ 107¾-107:!-! 107¾-1083,s 108¾-108¾ 106¼-107½ 107¼-107¾ 107½-108¼ 107¾-108.½ 108¼-100 108¼-108½
Union Pac.-lst, '96 . . 6112½-114 113)4-114 113)4-114 113¼-114¼ 114¾-115¾ 115 -116¼ 113 -114¾' 113½-lU 118 -113¾ 118¼-114¼ 11$¾-114¾ 114 -115
1st, 1897 . .. .... ..... . 6 112½-113~ 114 -114),( 113¾-114½ 113¼-115¾ 114¾-115¾ 116¾-117 113¼-115 114 -114¾ 113!14:- lU 114 -114 1147'-115 114¾-115¾
1st, 1898 ............. 6 112§s-114% 114¾--115 114)4-114¾ 114¼-115:};( 115¼-117 116 -117¼ 113¼-115,½ lH¼-115½ 114¾-115¼ 115 -115¼ 115¼;-115¾ 115;14-116¼
1st, 1899 . ....... .... 6 114 -114 114_½-115¾ .... - .. .. 114¼-l15¾ llfi¾-116½ 116¾-l:!.7¾ 114>:(-116 115½-116 115¼-116 116),(-11~ 117 -117½ ll'i¼-117¾
Land grants ..... . .... , . .. . - ....... - ... 104,i-104¼ lOQ¾-100½: 102 -102
••n
-
•••.•••
-
........
-
•••••••
-
••••••••
-
•••
101 -101
.... - . . . .
Sinking 1und ... ...... 8 118 -119 118¾-119 114 -115 113,½i-116~ 117 - 121½ 120 -120¾ 120 -121 120¼--121 .... - . ... 118 -120 110 -121 119 -119
Registe1·ed . ....... ,8 118 -11874 118.½-118½ lU - 114 115 -115 119¼-120 120 -120¾ 12◊ -120 .... - .... 116 -116 119 - 120 119 -120¾ 118 -119
Collat. Trust .. ...... 6 .... - . . . 106¾-106½ .... - ........ - .... 106,½-106¼ . ... - •.•....• - ........ - . . 105 -105 .... - ........ - ....•••• - • •·
Coll at. T1•ust . ...... . a .... - . .. . 95 - 95
95 - 95 . ... - ........ - ....•••• - •.••.•• • - ........ - ........ - .. ....... - ....•••• - .. . . 117 - 97
K. Pac.-lst, 1S9a.6 112 -112¾ 109¾-109½ 109,½-110 110¼-110¼ 110 -110 llll,i-112 112½-112!><: .•.. - ........ - .... 110,½-110¼ 111 -111 .... - , .••
1st, 1896 ... ..... ... fi 110 -111 109¼-109¾ 110¼-110½ 110 -111¼ 112 -112 110 -112 110)1;-110¾ 1103(-110¾ .... - .... 111 -111~ llll}.(-112¾ 109 -109
Dem•. Div.-Ass'd 6 .... - .... 114½-115 115)1;-115~~ 114.½-llR 112¾-112~ 113¼-113.½ 118¾-118¾ 115¾-115¼ 116 -116 116 -116¾ 113¾-114 11~ -113.½
1st, consoi.. .. . ... . 6 101¾-105 104 -105¾ 104¾-106¼ 104!1,1-109.½ 106¾-110¾ 108 -109 108¾-::.09,½ 109 -109¼ 109¼-110 109¾-113¼ llOJ.(-111¼ 111 -112½
At.Col.& Pac.-lst.6 lCCi,½-106 105 -106 102 -105 102 -102¾ lOQ¾-104 103 -105 104 -105.½ 103 -104¾ 104:)s-105 105 -106 103 -104 102¾-103
At.J. C.& W.-lst.6 . ... .... - ... . .... - ... . .... - ... 101 -101 .. .. - . .. . •..• - ...•••• - ........ - ..•....• - ..... .. - ........ - ... .
Oreg.Sh.Line-lst .. 6 lOO!Jl-103½ 100 -101¾ 100½-102 100)1;-105¾ 105¾-lOIJ 107 -108}( 107:J;(-109½ 108 -107~ 107 -lu8 108 -110 109¼·110½ 109½-112¼
Utah South.-Gen .. 7 94 - 94
93¼- 03¼ 91 - 91
96 - 116
94' - 96
98 -101½ 98 - 100 lOQ½-100¾ 98¼-100 100 -103 106 -110 107 -107
Ext'n, 1st, 1909 ... ,- 93 - 94
87 - 90 .... - .. . 92 - 92
92H- 95
93 - 95 .•.• - . ... 94~- 95
05 - 97
07 - 99¼ 105 -110 105 -107½
1
Mo. Pac.-lst cons .... 6 112 -113½ 112 -113¼ 107 -111~4 1103,s-112 107½-109 108,½-110 110 - 112 112¾-113 112 -113 113 -113 109:14-110¾ 109½-110~
3d, 1906 .. .. ....... . 7 115 -117¾ 117½-118 117½-118 118 -118 116 -117 117 -117 117 -117 117 -118 117 -117 120 -120 •••• - .... 114 -114
Trustg.,1917 .... 1) .... - ........ - ........ - . . . . . . . - ........ - ........ · - . ... .... - ........ - •.•..••• - .... 93!1i- 03~ .... - ....... - ... .
.Pac. ot Mo.-lst .. . . .6 102¾-103½ 100¾-101½ 101¼-101~ 101¾-102 102 -102¾ 102¾-102¾ 1()2¾-103 .... - ........ - . .. .. .. - ... .• ..• - .... . ... - ... .
2d, 1891 ............ ,- 104 - 104¾ 105¾-105¾ . ... - ........ - .... 108 -108 •••• - .... 105 -105 105 -106 ... - .... 106 -106 106 -107 105½-107¾
'1st Ext., 1938 ..... 1
- .... .... - .... . ... - ...... . . - ........ - ... ... .. - ........ - .. ..... - .... 97¼- 98¾ 97.½- 98 97¾- 98½ 97¾- 98
8t.L.&S.F.-2d,cl.A6113¼-118 .... - . .. . 117½-118 118 -118 115 -116 118 -118 119 - 119 118 - 118 118¼-118½ 117¾-118½ ...• - ... .. - ....
Class "B" ... . ... ... .. 6 115¾-118¾ 116½-117 116 -117½ 116 -117½ 116 -116 116 -119¾ 118 -119¼ 118 -118 116¾-118½ 117,¼-118 114½-116 114.½-115½
Class "C" ............ 6 114 -118 116½-11'7¾ 117 -117 116 -117 114½-116¾ 116 -118 119 -119¾ ..•• - ...• 116¾-116¾ 117¾-117½ 114¾-116 114~,i-115½
Equip1nent ........ ... 7 105].u-105~ 107 -107 .... . . - ... . .... - ....... - . .. •••• - .. . . •.• - ..•.•••• - .... 108 -108)4 •••• - ... . .... - . . .
General mort ........ 6 ll~½-115 ll(¾-115¼ 115¾-116 115!'4-116¼ 115¼-117 117 -118 115 -115½ 115½-115.½ ••• - .... 115 -116¼ 115 -115 116\;i-116~
General mort . . ..... .5 100¾-102¾ 101¼-103 1023,4-103 102¾-103½ 103¼-104½ 104 -1053,s 1023,s-102¼ 101~-102 101 -102¾ 101½-102~ 101~-103¼ 108 -108¾
1st, Trust, 1987 ... a .... - .... ... - .... ... - ... . 97¼- 97¾ 97 - 98
98 - 93 .•. • - •. •....• - ..• . •... - ..• .•.•• - ..•..•.• - .... •··· - •···
So.Pac.ofMo.-1.st .. 6 100 -101 1013,s-101~ 101~-101¾ 101¾-102~ 102¾-102¾ 10~-102¾ •..• - .. ....• • - .....•.• - ........ - .... .. .. - ........ - ... .
K. C. & S. W.-lst.6 .... - ........ - ........ - ........ - ........ - ....
- ........ - .... 100 -100 .•.• - ........ - ... .•• •• - ........ - ...•
Texas & Pac.-lst ... 6 106 -114 .... - . ...... . - .... 107 -107 107 -110 109½-110 .••• - .... 110 -110 •••• - ....•... - .•. .•• .• - ..... • •. - ... .
Consol. Tr. r'c'pts .6 99 -104¾ 103¼-104¾ 102.½-104 101¾-1G7 106 -106)4 .•.• - ....•••• - . .. . •••• - ••••.... - ........ - ..•...•. - ........ - ...•
Inc.& I. gr., tr. rec. 7 47½- 151½ 18¾- 50 42 - 48 41 - 50¾ 44 - 48.½ 43.½- 44½ ..•. - ... . .... - .• .••••• - . .. . .... - ........ - ........ - • •·.
lst,RioGr.D,tr.rec.6 65¾- 70¼ 67¾- 70¼ 65 - 68½ 66)4- 73¼ 69>:(- 72¾ .••• - ....•• • • - .• ..••• - •••.•••• - .•. . •••• - •••..••• - ....... - .. ..
Gen.M.&Ter,tr.rc.6 60 - 62
60 - tH
62¼- 62.½ 59 - 64
IU¾- 61¼ ...• - ........ - ..
. .. - •..• .••. - .... •.• - ....... - ... .... - .. . .
1st, gold, 2000 ..... 5 .... - . . . . . .. - ........ - .... .. .. - . . . . 92 - 93
02½- 94¼ 94¼- 95¾ 94~- 95¾ 93½- 94¾ 93¼- 94¾ 93½- 95
89 - 90¼
2d, g., inc., 2000 ... :i .... - . ... . .. - ...... . - ........ - . .. . 39),(- 41¾ 88)4- 403,s 39¼- '4¾ 43 - 45
,~ - 44¾ 40¼- 43¾ 88 - 42¾ 37 - 40
Pennsylvania RR.·
Penn. Co.-1st, cp .. . 4¼ 105½-107 106¾-106% 100¾-107¾ 107¾-108 109 -109 109¾-109¾ 109 -109 108 -109 108 -109 108 -109¾ 10$¾-109¾ 108)4-109"
Uegistered ........ . 4½ 106¾-105¾ 106 -106 105%-106}2 10714-107.½ 107½-107,½ 108 -108¾ 107 -107 106½-106½ 105¼-106¾ 106 -106¼ 107 -108 107 -108
1
::::::~;~~1~:=!::.; isa¼=14o·· 141
2d., 1912 . .......... . 7 136½-1371188
3d., 1912 . ............ 7 137 -137 . .. .
Olev.& P.-Cons.s.td.7 . ...
.._. 126
.4th, 1892 ....... ...... 6 106¼-106¾1 • .. .
St. L.V.& T. H.-lst.1112 - 118 .. . .
!ld, (lU., 1898 ....... 7 ... - ... , ....
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
-1!1¾
~!~~=!~¼\i42¾=142¾ i42¾=1~¼ i42¾=142¾ ~:2o;!=~~ i42¼=1i2~ i:is_li=143¾ i42¾=143¼[i« =1«·· i44 =14,··
- 1S8 188 - 138¾ 188½-188½[• ..• - .... 140¼-141 .••. - .... 14:0 -UO •••• 141 -141
••• - .... 1423,s-14~
- ••••.... - .... ,181¼-131~ 185 -135 •••• - ........ - ..... ... - ....... - ••.. 135 -135 .... - ... ..... - ••••
-126 120¾-126¼ 126¾- 129 125 - 126½ 126 -128 .... - ... 128¾-128¾ 128¾-128¾ 1293,s-129¼ 128 -128 1~½-12~
106¾-106¾1106¾1- 107½ 1107¾-108¾ ..•• - ......•. - .. . . 107)4-107¼ ... - .... 106¾-106¾ 107¾-107¾ 10~¾-l«mi(
- ••. 114 - 114 1!43,s-115 1117 -117 117 -117 115 -116 •••• - ....
114½-114½ ... - .... ll,¾-118
- . ....... - ... 108 - 108 108 - 108 106¾-106¼ 1()69'-106¾ .... - . ..
.. .• - •...••.• - .....•.• - --··
1
R.AILROAD BONDS.
1888-Contlnued.
JANUARY F.11:BR'RY.
BONDS.
- - - - - - - - - - ·-
MA.ROH.
APRIL.
M.A.Y.
1
JUN.l!l.
Al1GU8T. 8JIPT BJ:R.
---- - - - ---- ---·- -1----1---- -JULY.
-- --
OOTOBJIIR. NOV'BER. DEC 1BJIR.
Low.Hlgb Low.IDgb Low.High Low.High Low.High Low.High Low.High Low.High Low.High !-ow.High !:ow.High Low.High
Peo. Dec.& E-v.-bt .... 6 LOO
2d, 192'7 ....... ......... ~ 72
Evansv. Div .... .. ... . . 6 104
Peoria&Pek.Un.-111t.6 U2
2d mort., 1921 .... .4½ 73
Phil.& Read.-!ld ser.5 74
Income1nort., '96 .... '7 •···
Gen. mort., 195S ..... 4- ....
1st pl"ef, inc., 1958 ..:i ....
~d pref. inc,, 19.18 .... 5 ....
3d pref. inc., 195S .... :i ....
3d pref. inc., conv .... :i ....
Deferred income ...... 6 ....
-109
- '15
-106
-112
- 7S
- 76"
. ..• - ........ - ....
7~- '15
71½-- 74
103 -105 102 -103
•..• - ........ - ....
• • • • - • • • • • • • - .. • .
76¼- 76¼ •••• - •••.
- •··· ~ - ~ ··· - .. ..
106 -109
71 - 75¾
102¾-104
110 -110
.. • • - . . ..
75 - 'i5
109
69
105
....
•. .
75
.... - .... 82
-110 10$¾-112
- 72
69¾- 70
-107 102 -102
• ....... - ....
- • • . . • . - .. ..
- 75 .. . . - 82 .... - ....
....
71
102
. ...
70
....
···
- ....... - ....
- 72½ 70¾- 73
-103 104 -104
.. .. .... - .....
- 70
70 - 70
- •...
- ·
-
- ........ - ........ - ....... . - . ....... - ...... . . - .... 88¾- ........ - ........ - ........ - ........ - ...... . . -
- ........ - . .. . .. . - ........ - . ....... - ...... . . -
,. .. - .... 114
78¼- 76¼ 75
104 -105 105
110¾-110,iilllO
. . • . - • . . . 70
-
-114 114 -114 108
- 7~ 72¾- 73½ 65
-107¾ 105 -106¾ 104
-110¾ 110¼-110¼ lH,
- 71
69 - 69
69
- .. .... .. - ........
-108
- 66
-105¼
-114
- 69
- ... .
.... ....
- ···· ···· · ····
89¾ ·s~·¼- 89¼1···f8¼-- 89 .. ·as· -- 8.5~
88¾- 88¾ 88¾· 90¼
85¾- 60¼ 88¼- 89~ 88 - 00¼ 60 - 00½ 69 - 01¼
.... - .. .. 60½- 75¾ 74¾- 7~ 72 - 77½ 74¾- 7i¾ 75¼- 78¾
.... - . ..
- . . . . . .. - ........ - . . . . . .. - .. ...... - ...... . . - . . . . . .. - . . . . 50½- 64¾ 64¾- 67½ 60½- 67
60 - 63 ¾ 60 - 62¼
- ........ - ........ - ........ - ... . .... - .. . ... . . - ....... - ....... - .... 66¾- 67 .... - ... . 62 - e2
50½- 61)¾
- ........ ..... ...... - ... . .... - ...... . - ........ - . . . . 21 - 25
22½-- 22¾ 20 - 20 ... . - ........ - .. .
E::::.i~tft~:::.:: :;::,i ~~ :~ ~:: :.;; :;: ':":'? ;~: ~t~~:;;: :;~ ,;;. ,. :;o;, :;~": ~;~ 't':: ';:ii':-- :: :~
Rich. & All.-Tr. rec .. , 55 - 50¼ 55 - 56!1.{ 53 - 54¾ 5l - 55 52¼- 55½ M - 59¾ 65 - 58¾ 56 - 62 56,½i- 60 59¾- 62½ •••• - ... . .. - ••••
Stamped.... . . . . . .. . . . . . . . .. . . - . . .. . . . . - . . . 58 - 53 53¼= 53¾ .. .. = ... J. 58 =58 .... = ...... .. - .... 58¼- 58¾ . . . . - .. . . . . . . - .. . .. .. - ••••
Drexel, M. & Co., rec. . . . . - • •• . . . . - . . . . . . . - . . . . . . . .
.. . .. . .
.. .. .. ..
• .. • • • • •
• • • • • .. • - • • • • .. • • - • .. • 60 - 61
58 - 60 57¼- 5~
2d mort. Drexel rec.... . . . . - .. . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . .. 1. . . . - . . .. .. .. - .. .. . . .. - . . . . . . .. - . . .. . • . . - .. . . 26¼- 27
24¼- 25¼
Rich. & Danv.--Cons .. 6 100 -118¾ l~-1H% 118¾-115 114 -114½ 114¾-115½ 115~-116 113%-114 114 -115 115 -116 115 -lloiki 115¼-116~ 116 -117
Debenture ............. 6 100 -100 ...• - •.•....• - •••..... - ........ - ........ - ........ - ....... - .. .. 94¾- 96 .... - .... .... - ........ - ...•
,Deb. ex. cp ............. 82 - 86 SIS - 85 88 - 83 82¾- 85 83¼- 85 86 - 86 04¾- 95 .... - .... 03¾- 06 9-l - 95 .... - ... . 03 - OS
Con. M., gold, 1936.:i -... - .... 82~ 82¾ 82 - 83 80 - 88~ 88 - M 88¾- ~ 86 - 88¾ 87¼- 80¾ 88 - 00¾ 81 - 80 85 - 87½ 86 - 86~
Rich.& West Pt. Ter.6 88 - 91 86½- 87~ 86 - 88 85 - 88'4 ~ 90¾ 88 - 90¼ 01 - 08¾ 03 - 04:lfi 93 - 95~ 96 - 90¾ 08 - 90¾ 06¾- 08
Roch. & l~ittsb.-lst .. . 6 .... - .... 118 -118 116 -116
.... - .... ... . - ........ - .. . .. .. - .... 116 -116½ .... - ........ - ........ - ••••
Consol., 1st ............ 6 us -115¼ 114-U-116¾ 115 -115 ,115 -117 117¼-117,t ms -116¾ .... - .... 116 -116 114 -116¼ 114J4-114J,,( .... - .. ·1111 -lll3'
Rome w. & Og.-ht ... 7 107 -107 109 -109 108¾-108½ 109 -lOQJ,,( 11(%-110¾
- •... 108 -108¾ 109 -100 109¼-109),( 109¼-110 lll~-111¾ .... - ....
Con., 1st, extended ... ~ 101¾-103 102~10~ 103 -104¾ l~-104¾ 108 -10~ 106 -108¾ 107¾-108 107 -108 107 -108 104¼-106¾ 105 -106¾ 101!¾-10~
Mt. Jos.&G'd hl.-bt.6 98 -101 100 -101¼ 100 -lUl¼ 109 ·103¼ 101!4-lOSl!( 102 -103 103 -104¼ 104¼-105 105 -106}2 106½·107½,103¾-104¼ 108½-104~
2d, income .. . ........... :i 41 - 41 . • . . - • • . . . • • . - • • • . .. . . - . . . . 40 - 40 40 - 40 42½- 43 46 - o2 51¼- 52 .. . . - . . . . 40 - 49 . . • . - .. ..
St. L. Ah.& T.H.-ht.7 118 -118 112~ 11~½ ..•. - •••. llSJ-4-114 114¾-114!)4 .... - .... 112 -112 llt -114 114. -114 114 -114 114 - 114 117 -117
2d, pref ... ... ............ '7 109 -11~ 108 -100 109 -109 109 -109¼ .... - •... 108 -110 .... - .... 108 -108 108 -109 110 -llO 110 -110 107%-108¼
2d, income .............. , 103 -103¾ 104 -104½ 104¼-104¾ 105 -105 .... - .... 103 -105 .... - . ...
. ... - .•.• 108 -108 105 -105 105 -105
Dividend bonds ....... 6 38 - 38 .... - ....... - .... 35 - 38 40 - 40 39 - 40¾ 40 - 40~ 30¾- 42¾ 40¾- ,1~ 41 - 41
40 - 40 .... - •..•
Belle.&So.Ill.-1st.8 .... - ....... - ........ - ........ - ........ - ........ - .... 110 -110 .•.. - .......• - . ... 116 -116 .... - .... . .•• - .. ..
Bell. & Caron.-lst.. 6 110 -110 109 -109½ 110 -11141! 111¾-112 112 -118 U0¾-110½ 110 -111 .... - ........ - ........ - ....... - .... 110 -llO
8t.L.Ark.&Tex.-1st.6 08 -104 102 -104¾ 99¾-102¼ 100 -101¾ 98 -100 99¼- 99¾ 08 -100 98¼- 90¾ 98 -101 91 - 90¾ 87¾- OS 80 - OS
2d, 1936 ................ 6 40¾- 48¾ 44¼- 47¾ S8 - 41 S8 - 41 80%- 40!14 36¼- S8 37 - 38½ 87 - 39 36 - 42" 82 - 41¾ 81¾- 34 31¾- SIJ¼
St. Louis & Ch.-ht .. 6 .... - . ... 88 - 90 80 - 85 86¼- 87½ 84 - 85 . . . - . . . . .. . - .. . 35 - 35 .... - ... . 40 - 45 .... - ........ - ... .
8t. L.& Iron Mt.-lst .. , 109¼-111½ 108 -108 106½-108 107 -108½ 108)4-109¼ 109½--110 110¾-110½ 10~·108 107¾-108¼ 108 -108M 1r8 -108¾ 108 -100
2d, 189'7...... ..... .. . ,- 109 -112 109 -110 1~-109½ 105M-108 105¼-l~ 105 -106 106 -109½ 109¼-111~ 1087,4-110 110¼-110½ 106 -lO'i½ 106½-107
Arkansas Branch .... , 109),,(-110 109¾-110 l09¼-109'7A 107 -107 107~-107¼ 104¾-105¾ 105½-107 107 -108 108¼-108¾ 1~-108¾ 108 -108~ 106 -105
Cairo &Fulton-ht.. '7 l05 -105½ 104 -105 104 -104¾ 103%-104¼ 104¾-104¾ 104¼-105 102¾-105 104 -104% 103 -104 104 -104~ 104¾-105 104 -106
Cairo Ark. & Texas.,- 108¼-110 111 -111 10g -110 106 -106½ 105½-108 105 -105 l05 -107 107 -107¼ 107½-107½ 107¼-108 107¼-108~ 104 -105
Gen. consol. & I. g .... ~ 89 - 92¾ 88 - 90¾ 82½- 87 80 - 86 81 - 86 80 - 83½ 84 - 87 85 - 88 86 - 87 84¾- 80½ 86 - 87 84½- 87
St. Paul & Dul.-lst . .5 11~110½ ..• - •....... - .... 110 -110 .... - ........ - •. .. .. - . . ...... - ........ - .......• - ....... - .•..•••• - ••••
~d, 191 '7 ............. .. :i .... · ........ - ........ - ........ - ........ - ........ - ........ - ........ - ........ - ........ - ........ - . . . 104¾-104¾
~t.P.lU.&M-htlU09.? 112 -112¼ 1~11~ ••. - .... 114 -114 114¾-114½ 116 -117 .... - ........ - •... llSJ..(-114½ 110 -110 116 -118 .... - ... .
2d mortg .• 1909 ... .. . 6 117 -118~ ll~-118½ 118¼-ll~ 116 -116½ ... - ... 118½-120 120 -120¾ 120¼-120½ 120¾-120¾ 117 -118 117 -117½ 120 -120
Dakota Extenslou .... 6 116 -120 120 -120¾ 120¾-121¾ 120½-120½ 115 -117 116 -116¾ 116¼-118 .... - .... 118 -118 118¾-118¾ 115¼-118!14 118 -118¼
1st, consol., coup .... 6 114¾-116 114¼-116)4 114 -114 114 -116 116 -117¾ l20 -120 117¼-ll7½ .••• - .... ll7 -117½ 118¼-119 US¼ 119½ 118 -118¼
Reduced to ......... 4¾ 9~- 97 06¼- 97 96¼- 06½ 96¾- 06½ 06¾- 98 97¾- 08¼ 06¼- 0611:f 96~- 06¼ 96¾- Oi¾ 97 - 97¼ 98¼- 98¾ 98¾- 09!}.(
Coll at. trust, 1898.,.~ .... - . . . . . .. - ........ - ........ - ........ - ........ - ........ - ........ - ........ - ........ - ........ - . .. . 06 - 07¾
Minn . Union, 1st ..... 6 .. . - ........ - ........ - .... 110¾-111 .... - ... . .... - ........ - ... . .... - ........ - .... . ... .... - . .. . ... - ••••
Montana Ext., l st ... 4 62¾- 88¾ 82 - 88¼ 80 - 82½ 81 - 84¼ 84¾- e6¾ 84 - 86;( 86~- 87½ 86M- 87¾ 86½- 87½ 86¾- 81¾ 86¾- 87½ 88 - S!
Montana Cent., 1st. 6 .... - . ... . .. - ........ - .... 111 -ill 112¾-113 ... - ....... - ........ - .... lll¼-111½ .... - ... lll¾-111¾ ..•. - ... .
Snn A. &Ar.P.,1916 .. 6 .... - ........ - ........ - ...... .. - ... . .. - ........ - .... 00 - 00
... - ....... - .•. 88 - 88
91 - 01 .•.. - .. ..
1926 ........ ........ .... . 6 86 - 86 90 - 90 80 - 88 88 - 02¾ 80 - 92 91 - 91 89%- 00½ 00 - 93¼ 01 - 03 80 - 03 90 - 01% 90 - 92¼
Scioto Valley-1st con., . ... - ....... . - ........ - ........ - ........ - ........ - .... *66 - 66 .... - .... *60 - 70 *66 - 65 .... - ........ - •...
Shenandoah Val.-tst.,- 00 - 01 92 - 92),,( .... - .... 02¼- 05 .... - ........ - .... 02 - 05 03 - 95 01 - 94½ 03 - 93 89¾- 00
Gen. mort., tr. rec .. . 6 84½- 86x( S4 - 86 so - 33¾ 29 - 86 31 - 83 so - 32 31 - 33¾ 33¾- 35¾ 34¾- 35¼ 83 - 36¾ 31 - 32 20¼- 30
l!idutb Cu.rolina-lllt .... 6 97 -102 101 -102¾ 101 -102½ 100 -101¾ 102 -102 100¼-102¼ 102¾-104¾ 104. -105½ 104 -104½ 1007-(-102¾ 79¾-101¾ 07½-100
2d, 1931 .... ... ....... .. 6 69 - 76 78 - 85 77¾- 70!Ji 78 - 88 80 - 87 82 - 86 8S - 83¼ . .•• - ••• . 82 - 83
77¼- 78¼ 48 - 70
Incomes . ... ............ 6 15 - 1~ 17 - 18 .... - .... 13 - 16 15!,,i- 15¼ . . .. 15 - 1~ 15¾- 16¼ l ~ - 16¾ l~- 19
16 - 16
10 - 15
Tenn.C.&I.-Tenn. D.6 .... - .... 84 - 87 80 - 80 .... - •....... - ..... . .. - . ....... 85 - 86~ 85¼- 87
84¾- 87
87 - 80
88 - 80
Bir. Div., 1st ........ . 6 83 - 8!! 84 - 87 82½- 86 82 - 85 85 - 87½ 85¼- 87¾ 85 - 86!14 87 - 87¾ 87 - tl8 88 - 90~ \10½- ~2½ 90½- 93
Tex. C.-lst,s.f.,1909.'7 .... - ... .. .. - .... .... - .... . .. - . .. . . .. - ..... . .. - ....... - .... 55 - 55 .... - .... 60 - 50 .... - ... . 50 - 50
1st, 1911 ............... 7 .... - ........ - ....... - .... 45 - 45 45 - 45 •••• - .• . .•••• - •••.•••• - •••• 50 - 150 .••• - ••••••• - ........ - ..
Tex.&N.O.-lst,1905.'7 114 -114 ... - ........ - .... 116 -116 .•.• - .... 117 -117 ... - .... . . .. - .•...... - ........ - ........ - ....... . - •..•
Sabine Dh., 1st .... . . 6 102 -102 102 -102 •... - ... . 100~-100¾ 101 -102 102 -102 104 -104 .... - •... 103 -103 103½-103¾ 108¼-103½ 108 -103
Third A-ve. (N. Y.) ..... '7 .. .. - ........ - .... . ... - .... 102¾-102¼ ... - ..... . .. - ........ - ........ - ••...... - .... 104½-104½ 105¾-105~ ...• - ...•
Tol.A.A.&C.,191'7.6 .... - ........ - ........ - ........ - ........ - ..... .. . - . ....... - ........ - .... 101 -101¼101¾-101¾ ... - .. . ..•. - . ..•
Toi. A. A. & N. M., tst.6 85 - 97 06¾- 99¼ 07½- 90 97!)4-103 97¾-104 90 -102 100%--101¾ 00¾-102 101 -102 101¼-lOS 98%-100 98¼- 90
Toi.A.A.& G.T.-lst . . 6 101 -102 104 -105 101 -107 102½-102½ l06 -107½ .... - •.•. . .. - .. 105 -106½ 106 -106 106 -106½ 105 -106 106 -106
Toi.& Ohio Cent.-lst.5 93 - 07¾ 96~- 07¼ 95¾- 97 06¾- 08 98½-100 90¾-101 08¾-100 90},(-100 907,(-100 90 -102 101 -102 102 -103¼
ToJ.P.&W.-lsttr.ct .. '7 .... - ........ - ... 90 - 92 02¾- 92½ 91 - 91 91 - 01 01 - 91 09½- 90½ ... - .....•.• - .......• - •.....• - ••••
1st, aiold, 191 '7
. ... 4 .... - ........ - ........ - ........ - .. . .. .. - ........ - ........ - ........ - . . . . 77 - 78 79 - 79 76 - 77 7fl½- 77~
Tol,St.L.&K.C.- ht,6 01¼ ~ 03¾ 02¾- 04 98 - 93 93½-- 94 93 - 94 91 - 93½ 04 - 04 93.lt- 94 02¾- P3½ 98~- 95 04%- 95¾ 90¾- 03
Vira-inia MidlandGen. mort., 1936 .. .. ~ 78 - 80 79¾- 82 78 - 82 79 - 82 78 - 79¼ 80 - 82 81¾- 83~4 82'-(- 88114 84 - 84 88¼- 85 80 - 82 80 - 86
Valley Ry. of 0.-C on.6 105¼-105'( .... - •... 100 -100 .... - • ... • .. - •••••..• - .. . ..... - ........ - .... 105¼-106¾ 105 -106¾ 104¾-105 ...• - ••••
Wab. St. Louis & Pac.Gen. mort., tr. rec ... . 6 45 - 47 .... - •••. 41 - 41 37 - 48½ 41 - 43 So - 35 40 - 40¾ 40¾- 43¾ 40 - 48½ . ... - ........ - •... 85 - 37
Chicago Div ............ ~ 93 - 98 97 - 98¼ 07½- 98 .... - ...... .. - •••• . •.• - ....•.. - .......• •....• ..
- ........ - ....... - .•••
Trust receipts........ ... - ... 88 - 88 85 - 87" 84 - 88½ 84¼- 86 84¾- 88½ 88 - 89¾ 89 - 90 88¾· 80}3 89 - 91¼ 86¼- 80,t 86 - 88¼
Detroit Division ..... 6 102 -106¼ 108 -108 100 -100 108¾-108¼ .... - •....... - ........ - .••....• - .... 109~-111¾ .... - ........ - .•..•..• - ••••
Trust receipts ......... .... - ........ - .. .. LOS -100 108%-109 104 -lOd½ 105 -100 110 -110¼ . ... - ........ - ........ - ........ - ...... . . - ••.•
Wab'sh-Mort •. 1909.'7 80 - 90 84 - 90 .... - .... . ... - . •.. . .. - .....•.. - ........ - . .. 84 - 84 .... - ........ - ... . ... - ........ - ... .
Trust receipts . . . . . . . . . . . - . . . . . . . - . . . . . . .. - . . .. . . . . - . . . . 84 - 84
. . - . . .. . • . • - . . . . 87 - 87 • • • • - • . . . . . . . - . .. . 86 - 86
85 - 85
Toi.& W.-ht, ext'd., 107¼-109 108-U-109 10~-109 107 -107¾ .. - .... llO}s-110¾ ... - ..•. 112 -112 •.•• - ... . 111.)(-112¾ 118¾-11331? .•• - ••••
Trust receipts . . . . .. .. . . . . - . . . . . . . . - . . .. . . . . - . . . 90 - 91
00 - OS . • . . - . . . . 04 - 95
9'~- 92½ 01¾- 02
94 - 94
02 - 92
87 - 87
Wab. St. L. & Pac.St. LouisDiv ......... '7 l07¾-108½ lQS¾-109 109 -100 10~-107¾ LIO -110 .... - • . 111 -111 .... - ... . .... - .... 111 -111 .... - ...... . . - ••••
Trust 1·eceipts...... . . . . - . . .. . . . . - . . . . . . . . - .. . . 90 - 90 oo - 93 .. . . - . .. . . . . . - .. . . . . .. - . . .. Ill¼- 92 91½- 93½ 92 - 02 . . . . - ....
2d, extended .. ........ , 88 - 90 90 - 91 .... - .... 85 - 85 01 - 01 ... • - ... . 88 - 88 .••• - ........ - . . .. 05 - 95 .... - ........ - ...•
Trul!lt receipts ...... .... - ........ - ... .. ... - ........ - . . .. 85¼- 85¾ 86¾- 87 84 - 84 86 - 89 89 - 90 90¼- 90¾ 86 - 00 84 - 85
I.... - ....
~::~~.~::~~~~~~::.- ~ ·ss -8····
7 ···· =88½ ·~
Trust receiptlil ......
Gt. Western-lat ...... ,
Tru ■ t receipts ........
~d mort., 1893 ..... ,
• Oo11po11 oir.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
=
= ~· :::: = ::::
-~~ =~~
:::: = :::: :::· = :::: :::: = ::::
~.~ =~~ .. ::::· = ::::) ~~. =~~ ... ~~. = ~~..
. ...
•. •. ~.-.1 .8'
.•• - •... ...• - .... 84"- 64¾ 84¼- 84¾ 84 - Si% 84¼- 84¼ 8S - 88
85¾....
108 -109 107 -107~ 105¼-106 111 -111 .... - · ........ - .... lll~-111~ ••.. .... - ....... - . ... .. - ........ - .... 89¾- 93 91 • 91 ...• - •.• 92 - 92¾ 91¾88 - 90
90 - 90 1 85 - 85
82 - 82 • • • • - • • • • • • • • • • • • • 90 - 90
87 - 88 1.. . •
68¾[863,(- 88185 - 86
87 - 88
···: 111 -US½ 113¾-113¾ 110~-1103'
•••• - ••• . •••• - ••••
Sil~ 913'- 94.
. .. . 11& - W
., •• - • •• • • •• - ••.•
RAI.LBO~D BONDS.
1888-Concluded.
BONDS.
J.A.NU.A.RY FEBR'RY, .M.A.RCR,
_APRIL.
MAY.
JUNE,
JULY.
AUGUST. SEPT'DER, OCTOBER, NOV'BER. DEC'BlCR.
- - -· - - - - - - - - - ----1 -- ---1-----
- - - - - · - - - - - - Low.High Low.High Low .High ~High Low.High Low.High ~ow.High Low.High Low.High Low . High Low.High Low.High
Wabash-Gt, West'n~d trust receipts......
Quincy & Tol.-1 st ... ,T1·ust 1·eceipts .........
Ill. & So. I own., lst.6
St.L.K.C.&N.-Rl.E.7
St. Chas. Bridae .... 6
North. Mo,-lst ...... 7
W.Va.C.&Pitts.-lst.6
c
. . .. - . .. . . . .. - . . .. 77 - 77 . . . . - . .. 85 - 85
85 - 85
!¼ - 86
86 - 88
90 - 90
88¼- 90½ 87½- 88 84 - 87¼
91 - 95 . . .. - • . . . . . .. - . . . . . . . . - .. .. . .. • - .. .. .. .. - • .. . • . - • . .. • . • - .. .. .. .. - .. . . .. .. _ .. .. .. . . _ .. .. .. . • _ ....
.... - ........ - ........ - ... . .... - ... . .. - ... .. .. - ........ - ........ - .. . . 79 - 79 . •• . - .. .. 87 - 87 85 - 85
92 - 92 .... - ........ - ........ - ....... - ....... . - ....
- ........ - ........ - ..... , . - .. .. ... _ .... . ... _ •.••
111 -112¾ lll½-111½ 112 -112 109 -109 109 -109 l09½-lll½ 112 -112 112 -118 109 -109 110 -111 lll¼-111½ 112 -112
.... - .... 106 -100 .... - ........ - .... 108 -1(:)4 l0i½-105 105 -105 .... - .. . .. .. - .... 102 -104 104 -104
- ... .
lll¾-113¾ 114½-115½ 114 -114 ll4½-115 116½-116½ 116½-116½ .... - .... 1115 -115 116½-116½ 116¼-116¾ .... - .... 116 -117
. ... - ........ - ........ - .. .. .... - .... 105¾-106½ .... - ........ - .... . ... - ....... . - ........ - ........ - ....... - .. ..
w.N.Y. &Penn.-lst,l> .... - ....... - ........ - ..... . - .... 98½- 99 98 - 99~ 91 - f4 93¼- 94~ 93½- 94,,s 93~- 94 93¾- 94¾ 94¼- 97¼
!ld M., g,, 1mi,- .. .. 3-ii ... . - ........ - ..... ... - .. .. 38 - SO¾ 85½- 40 .... - ... 87¼- 38¾ 38¾- 39¼ S9½- 4~ 8$¾- S9!1( 38 - 38~ 37¼- S£'4
Warren & lt'r.-lst.7 . ... - ... . .... - ........ - ........ - .... j115 -115 .... - ........ - ........ - •....... - .... ... - .... .. . - ..... .. - ... .
w.::!~~::::d~~~~·: :::.::!
!~~=i~i¾ !==igi~ i~~:=~~i: i~i~=i~!
ig! =ig:!
i:i~
West._Un. Tel,-Coup .. 7 .... - ... _. .... - .... 1... - .... 118 -118 115 -116 ..• - ..
Reg1ste1·ed ............ , 117 -117 .... - .... 115½-115¼1.... - . .. . .... - •. 117 -117
~:!~~rt~~:u::~:i'~~.:1·94~ Os;~ ·9~ =97½ :::: = .::: ·oo
=
9~ .00¼=100¾
0
9$½=
~~:=i::ji==i~!~ ig~=i~~ i~~=~g: ig;~=i~~ i:~=i~~
.. .. - .... 116¾-116½ 119½-120 1119½-120 lU -115 11~-lU½
.... 115 -115 .... - •..•
99¼ .99
····1 .. ·· - ........ - .... .. - ....
=1()0¼ .00½=100~ ioo¼:102¾ 1~;;-'4=1~: l:½=l~~½
l~~¼~!~~~
ISSS.
JANUARY FEBR'RY.
MARCIL
APRIL.
MAY.
JUNE.
J ULY.
AUGUST. SEPT'BER. OCTOBER. NOV'BEH.
l>EC'BER.
BONDS.
---------
Low.Illgh Low.High Low.High Low.Hi!l'h Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High
Am. \-Vat. W. Co,, lst.,6 106¼-106¼ 106¼-106½ 10~ -107
. . - . .. .. .. - .... 110 -110 109 -109 109 -109 .... - ....... - ........ - .. .. . .•• _ .. ..
1st consol., fl Ohl 6s... .. .. - .. • • •·· - • •• · .. - · .. · .. • - •· .... • • - .. • • .. •• - .. .. 99¾- 99¾ 09¾- 99¾ .... - .... 100:J.ti--100½ .... - ... . .... _ ... .
Atl. & llanv.-lst ...... 6 ... - ...... .. - ....... . - .... 93 - 94.¾ 04ljji- ~ 98)4- 98½ 98 - 98½ 98¾- 99¾ 98¼- 99¾ 95½- 97½ 97 - 97¾ 97 _ 98¼
Atlantic & Pn.c.-ht ... 4 i8½- 81¼ 80½- 83 • 79¾- 83
79%- 80% 77 - 80¾ 76~- 80½ 74¼- 77% 71¾- 74'¼ 73 - 74¾ 68¼- 72¾ 7~½- 77% 74 _ 75½
Income ......... .... .... 6 20 - 22¼ 20¼- 22¾ 17¾- 21¾ 17 - 19¼ 17 - 19½ 17¾- 19½ 16 - 18½ 15¾- 17 16 - 17 13 - 15¼ 13 - 15¾ 13 _ l4¼
At. T. & S. F,-1920, 4½ .... - ........ - ........ - ........ - ... 88 - 88 .... - ....... - ....... - ........ - ........ - ........ - ... ... . . _ .. ..
Chic. s. F. & Cal.1st.~ 97½-100
99 -109
99¼-100
97½- 97¼ 97 -100 .... - ........ - ....... . - ........ - ..... .. - .... 86 - 86 85 _ 85¼
GulfCol.&S.F.-lsr,7' 106¼-116½ 112½-116 109¾-114¾ 108 -109¾ 109½-112% lll¼-114¼' 105¼-109¼ 100)4-105½ 103 -106 101 -107½ 108 -110 114 -ll0¼
(;lold .... ........... ..... 6 70¼- 87½ 79 - 83
78 - 81¾ 70 - 78¼ 72 - 76¼ 75 - 77¼ 69¼- 75
M - 68¼ 67 - 72
62 - 68
68¾- 7~ 74 _ 76¾
Bait, & o.-lst, P.Br .. 6 118¼-118¼ 119 -11g .... - .... . ... - ........ - .... 121~-121½ 121 -121¼ .... - .... 120½-120¼ 119½-122 .... - ... 119¾-120)4
Goltl, 192~, coup ..... l) 108)4-111 107 -110¾ 107 -109½ 103¾-110½ 108 -109 110 - 110¾ 109¼-109½ 107 -109 107 -107¾ 107¼-108½ 107 -108¼ 108½-110
Gold, 192:i, i•eg .... .. ~ .... - .... 104½-105 105 -105
.. - .. .. .... - .... 107½-107¼ 106¼-106¼ .... - ........ - ... . 106¼-106¼ .... - ..... .. _ ....
Beech Creek.-l8t, p: •. 4 83%- 85½ 85 - 90
89 - 91½ 90 - 91
Ill¼- 98¼ 91 - 92
89 - 90 . . .. - .... 89¼- 89¼ 89¼- 90 .... - ... . 80 _ 89¾
Bos. Un,Gas-Tr.ce1•.sf.ii •• • - • .. • .... - ...... · · - ·.. · .. - .. · · .... - ........ - ·· ...... - ... . 94%- 94¾ 95¾- 95¾ .... - .. .. 93 - 94
93 - 93
Bost. H.T. &Wes.deb.ii 98 -100 99¼-102¼ 98½- 99
90 -100 100 -100 100 -100½ 101 -101½ 102 -102 .. . - . .. 97 - 99
- . .. 98 _ 99½
Buff, R. & P.-Gen ..... l> .... - .... ... - .... 97¾- 977~ 97¼- 98¼ 98¼- 99¾ 99¼- 00½ 99!J,(-100 100½-102 100 -100
99 - 99 . ... - ........ _ ... .
Roch. & Pitts., lst .. 6 .... - ........ - ... 116 -116
.. . - .. . . 120 -120 .... - .... 119¾-121 ... . - ........ ..
- .... 110 -119 .... _ ... .
Consol., 1st .......... 6 US -113),4 115 -116 116¼-116¾ 115 -117 116 -117 .... - .... 116¾-116½ 117 -117 119 -119 117½-117½ 117 -119 .... _ .. . .
B'klynEl.-ht,1924 .. 6 108¾-110¼ 100¾-110.!4 109¼-110½ 107~-110¼ 110 -110½ 110 -112 112 -112½ 111¼-112¼ 111¾-112½ 109 -110½ 11~-112 111¾-119
!ld moi·t-, 1916 ... . 3-~ 87¼- 87¾ 88 - 88 80 - 89
89 - 90
IJ0 - 90¼ 91 - 92 .... - .... 86½- 87
... - .... 89 - 89¾ .... - .... .... _ ....
Union El.-lst, 1937' .6 106 -106¾ 106½-107 106¼-106¼ 106¾-108½ 105¼-106 105 -105¾ 105¼-105¾ 106½-105¾ 100 -108 107¼-109½ 106¼-107½ 107 -108_¼
Bur, c. R. & No.-lst .. l> 9i - 99½ 97½-100
90 - 97½ 95½- 911¾ 99¾-104½ 99 -102
99 -100
99 -100
99 -100¼ 99 -100
00 -100¼ 95 _ 00¾
')Cons. tst & col. tr .... :i .... - ....... - .... 79 - 83 80 - 80 82½- 93¾ .... - ... 87 - 87 .... - .... 87¾- 88½ ... - .... 87 - 9e .... _ ... .
C,R,I.F.&N,,lst ...... 6
- ........ - ........ - ..... . .. - .... .. - ... 96 - 06 .... - .... 98 - 98 .... .... .. - ........ - ........ - ... .
Canada So.-lst, gu ... :i 106¼-108 107¾- 108½ 108 -109)4 108¼-110½ 109¾- 112¼ 110¾-112¾ 107%-109 108¼-109¾ 108½-109¼ 108 -108¾ 108¼-109¾ 100 -110¼
2cl moi•t ........ ...... ... 5 113¼- IJ6
95:J.ti- 97¼ IJ8¾- IH½ 9t - 96½ BP.½-100
99 -100
98½- 99½ 98'(- 99½ 96¼- 97¼ 96¾- 96%; 95¾- 97
96¼- 97½
Cent. O. Reoi•.-lst ... 4½ .... - .... ... - .... 102½-102½ l0S¼-103¾ 103¾-104 l03~-!.03½ .. .. - .... 103½-103½ .... - ........ - .... 102 -102 .... _ .. ..
Cent. RR. & n., Ga .. ii 99½-101 100%-101¾ L0l¼-101¾ 101%-102½ 102?,<,i-I0S l0OJ,ii-101¾ 101 -102 100!)(-101 101½-101½ 102 -102 .... - ........ _ .. ..
Snv,&W.,lstcon.,g.~ .... - ........ - ........ - ........ - .... .... - ........ - ....
- .... 104 -104 .... - ........ - .... 99 - 99 .... - .. ..
Oent.otN.J.-lst,1890 ,1106 -106½ 103 -103¾ 103¼-103½ 103¾1-103% 103%-104½ 104:}f-105 104¾-104¼ 101¼-101¾ 101¼-101¾ 101½-102¼ .102 -102¾ 102¾-102¾
Consol., 1899 ......... 7' 120 -121 122 -122 121½-121¼ 120 -121 121 -122½ 123½-1~ 122½-122½ 121¼-121¼ 122 -123 121¼-121¼ 120¾-120¾ 122 -122
1
Conv., 1902 .... ...... . 7 125 -125 . ... - ........ - .... 128¼-128¼ .... - .... 12i¼-127¼ .... - ........ - .... 128 -128 128 -128 .... - ...... .. _ ... .
g::~~tbi·J:,,0~:::::::
ioo.i1io" 108¼-lio ..
~~~ =~~~
liio =1i2½ ii2¾=li5¼ ii4½=1i5¾ ii2¾=1i3½
1~:
=i!~¾ 1i2½=1i3¾ ii2 =1i~ .. ii2¾=1i3¾ ii2111=1is¾
Registered . . ..... .. 6 106¾-109% 108'7/4-109¾ 107¾-109¾ 10$%-111 110½-118¼ 113 -113¼ 111 -113¼ 112½-113¼ lll¼-113¾ lll¼-112¼ lll½-112¾ 111¾-112¼
Leh.& W.B.-Assent 7 115½-119 117¾-119 117 -117 1116¼- 120 119¼-120½ 118¼-ll~ 117 -119}4 117 -118 116¼-116¼.115¼-116¼ 116 -117½ 114½-116
Mortgaire, 1912 . ... ii .... - ........ - ........ - .... , .. - ........ - .... 103 -l0o 106¼-107½ 107 -107 ... . - .... 106 -107 102½-102½ 102¾-103
Am.Dock&lmp .... .. l)l08 -1'!.0 100½-110%108½-109¾109 -111 111½-113 112¼-113 112 -113 112 -112 .... - .... !112 -112 110 -110½109¾-110¾
Cent. Pacific.
Golcl, 1895 ........ : .... 6 112>2-118 118 -118% .... - .... 115 -115 115~-ll~:l,f lll\¾-116¾ 114¼-115½ 115 -116 113¼-113½ 113¼-114 ....
.. .. 111½-113
Gold, 1896 .......... .. 6 .... - . .. 113 -113~ 113½-114 115 -115 115¾-1!5¾ 116½-116¾ 116 -117¼ 115 -115 113½-115¾ 114 -lU½ .... - .... 112 -112
Gold, 1897 ............. ti 113 -113 11S½-113¾ .... - .... 115 -115 110 -UC¼ 117¼-117¾ 116¾-118¼ 116:J.ti-117 115 -116¾ 116¼--116:J.ti .... - ........ _ .. ..
Gold, 1898 ............. 6 113½-115 113¼-115 115¾-115¾ 116 -117 117¼-117¼ 118½-120¾ 118 -119~ 117½-118 117½-118½ 117 -118 115¼-117 115¼-116¼
Snn Joaquin Br ....... 6 114¾-114;14 .... - ........ - .... 114 -114 .... - ........ - ....... - ... ... - ........ - .... 114 ·-114 113¾-113¾ .... _ .. ..
Cal. & Ore,:on, "B" .. ti .... - ........ - .... • • .. - .. . . -. . - .. . .. .. - ........ - ........ - .. .. .. . - ........ - .... 103½-103¼ .... - ........ - .. ..
Land g-rnnts ..... ....... 6 102½-103¼ 104½-105½ 104¾-104¾ 101!14-102¼ 101¾-102½ 10~-103 10~-103 102¾-102¾ 104 -105 101¼-101½ 101½-101½ 101 -102
Mort. bonds, '1936 ... ti l05¾-J(l6% 1061-8-107½ 107¼-108¾ 105¾-106¾ 107 -107¾ 107%-108)4 .... - ........ - ........ - ... . .... - .... .... - ........ _ ....
Mort. guar., 1939, .. 5 .... - ........ - ........ - ........ - ....... - ....... - ........ - ........ - ....... - ........ - .... 102¾-102½ 102¼-104
Western .Pnc .. .... ..... 6 111 -1 U¾ 112½-112½ 115 -115 .. . . - .... 115¾-115½ .... - .... . .. - .... 111 -111 113 -113 113¼-113% 113%-113¾ 113 -113)4
Ches. & O.-P. mon,t'd fi ... . - .... 1U -115 115 -116 115 -115½ .... - . ....... - ........ - .... 114 -116 lU -lU 114½-116 .... - .... 115½-110
8eriesA, gold, 1908.6 U5 -116 116 -117½ 117½-118½ 116 -118 117¾-120 119 -119 118½-119 .... - .... 120 -120 116 -117½ 119 -119 119½-119½
lSer. B, reor, com. ct.6 70¾- 84¾ 85¼- 86¾ .... - .... , ... - ........ - ........ - ........ - ........ - ....... - ........ - .... . ... - ........ _ ... .
Ext.cp.,reor.com,ct.4 70¼- 85¼ 85 - 87½ .... - ........ - ........ - ........ - ........ - .... .. - ....... - ........ - ........ - ....... _ .. ..
Curr'cy, reor.corn.ct.6 29¼- 38¼ SI½- 35 .... - ........ - ....... - ........ - ........ - . . ...... - . .. ... - . ... .... - ........ _ .. . ... _ ... .
Mort., 1911 .. ......... . 6 113¾-116¾ 115¾-118 117¼-ll'f7,1i 114¼-117 116¾-117¾ 118 -118¾ 117¾-118 118½-119¾ 119¼-120 115¼-118 116½-118 116 -116
1st, con., g,, 1939 .... l> .... - .. .. 94 - 05
94 - 04¾1 94 - IJ7¼ 9~- 98¾ 98 -100¼ 100¼-102¾ 101¾-104¼ 102¼-103¼ 102¾-103¾ 100¾-101
09 -101
Ches, 0, & S, W ...... . 6 107 -110 107 -109¼ 109 -101:l½ 108½-111 1107,.-s-lll¾ 111½-112¾ 11~¼-114 110 -111½ 111½-112¼ 111 -112¼ lll¼-111¼ 111 -111
2d mort., 1911 ........ 6
.... - .... 77 - 81 j .. .. - .. .. 77¼- 77!,.! 78¾- 78'4 711 - 80½ 77 - 77¾
77 - 78 .... - .... 79 - 79
Chic. & Alton-l st . ... . 7 110!):t-111 lll½-111½ 112¾-112¼ .... - .... 112½-112½ 113 -ll!t 109½-109½ 109¼-109½ 109½-109¾ 109¾-110 · ... - .... lll¾-112
Sinking 1und, 1903 .. 6
123¾-125½ 124¼-125¾ 1. . . . - . . . . 126 -126 12-~ -124 .... - ........ - .... ....
123½-124 .... - ... 120¾-121¾
L.&Mo.R,lst, 1900., 124 -124½ 121¼-121½ .... - ...
122 -123 121¾-1:&2½
- .... 120 -120 .... - .... 119 -120 .... - .. 119 -120
St.L.J.& Uh.ht,'94 7
.... - .... 112¼-112¼ 118 -113 118¾--114¼
- ........ - ........ 111¼-112 111¾-111¾ 111 -111¾
~st m.! guar., (:i64).'7
. ... - .... 1. . . . - . . . . 112½-112½ • ... ·- . . . .... - .... 114¼-114¾ .... - ........ - ........ _ ........ _ .. ..
M1ss,R1v,Bd.lst,s.f'.6
107¾-107¼ .... - .... 107 -108
107¾- 107¼ 107 -107¼ .... - ....... .... - ........ - .... 100 -106
Chic. Bur.& N or,-lst.l) 98 - 90 100¼-100¼ 101¾-102 99¼-100 108 -108¼
102 -104% 103 -103}4 102:J.ti"-102½
101 -101
....
Chic.B.& Q.-Consol. .. 7 131 -l3L¼ 131½-182 131½-132 132 -132½ 133½-134 183½-184 129½-131 130 -130¼ lal -132 129 -180½ 128!,,(-130 129 -130
Sink. :fund, 1901 ..... 5 108 -100
.. . - .. .. .. - ... 106¼-107 107¾-107¾ .... - .... ... - . .. .. .. - .... 106½-106¼ 104¾-104% 105½-106 106 -lot
Debent1n-e, 1913 ..... l) 104 -106 108½-106 103 -104¾ 103½-105¼ 102¾-105½ 106¼-106¼ 105 -106¼ 104¾-106¾ 105 -106 106¼-106¾ 103½-1~ 103 -105
IowaDiv,-·sink. fd .. . ii .... - ........ - .... •· .. - ........ - ........ - .... 118),(-11S¼ .... - ... ... - ........ - .... • .• - .... 113 -113 .... - .. ..
Iowa Div .............. 4 96¾- 97¾ 07~- 97M 97 - 98 94½- 96
96¼- 97½ 96½- 97¼ 97 - 97¾ 97½- 98
97 - 97¾ 97 - 97
96¼- 95¼ 95½- 95¾
Denver Div., 1922 ... 4 94¼.- 94½ 92½- 93½ 92½- 93½ 93%- 94.¼ 94¾- 96½ 95½- 96½ 95½- 95¼ 95¼- 95¾ 91i¾- 06 03 - 94¾ 94 - 94
93 - 94½
Plain, 1921. ... ...... .4 .... - ........ - . . .. 89¾- 00¾ .... - .. .. 01 - 91
91!1:(- 92½ 92¾- 113¾ 93½- 95 .... - • .• . 92 - 92¾ 92 - 03 .... - ..• .
Nebr'skaExt.,1927.4 01'¼- 94% 93!),~- 95 98 - 96 03¼- 015¾ 93¾- 9!1¾ 93¾- 94¾ 93%- 9!1¼ 94)4- 94¼ 94½- 94¾ 94 - 94½ 91½- 92½ 01¾- 94
Chic. & E. Ill.-lst, s,t.ti 118 -110].d'. 119 - 119 ll0¼'.-119¾ 119¼-119¼ .... - .... 110 -119 120 -120 .... - .... 120 -120 120 -120 120¾-121 .... - ....
.lstconsol., gold ....... 6 118 -120 12~-124 123½-124¾ 120¼-121¾ 120½-121 121¼-122¾ 124¾-126¾ 126 -126 127¼-127½ 120 -125 123 -124 117 -122
Gen. mo1·t., 1937' .... ~ 97 -100'!,4 100¼-104½ 102¾-103½ 102½-104 101¾-104 103 -104 103¾-104¼ 103¼-104¾ 103¾-104½ 102~-103¾ 99 -102½ go -102
Chic. Gas L. &. C-lst .. l> .... - .... 88 - 90 89~- 96
92¼- 94~ 93¾-Hll
99"-100½ 96 - 116
95½- 95½ 95¾- 117¼ 06 - 06½ 95 - 97
90 - 93¼
Chic.&ln,C'lRy-lst.6 00 -101 101 -105 108 -104½ 10:l :108¼ 102¾-104 104 -IOI 10S'4-106 104¼-106 104 -104 101 -102 102 -102 101½-102
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
j.; .. - .. .
I"" - ...
BAILRO.AD
BONDS.
1889-Continued.
JANUARY FEBR'RY.
BONDS.
MARCH.
APRIL.
MAY.
I
JUNE.
JULY.
AUGUST. SEPT'BER. OCTOBER. NOV'BER.
DEC'BER.
_ _ _ _ _ _ _ _ _ _ ,_
L_o_w._._H,_lg_h Low.High Low.High Low.Hi g h ~ Low.High Low.High Low.High Low.High Low.High Low.High Low.Hhrh
Chic. Mllw. & St. P.bt, P. D., 1898 ...... . 8 127¾-129 124¼-124¼ 124 - 124¼ 125 -125 127 -129 181 -181¼ ••.. - .... 125¾-128 125¼-126¾ 126 -126 125¼-126 12~126¼
2d, P . D,, 1898 ... .. 7•3 122¼-122¼ 118 -120 .... - .... 118 -118 ... . - .... rn0¼-120¼ .... - .... .. .. - ... ... .. - ....•••• - ••.....• - ........ - ...•
ls t,a-old, R. D,1902.'7 . ... - .... 124 - 125¼ 125¼-125¼ 124½-125¼
- ••..••.• - .... 125 -125 127 -127 ... . - . .. . 125 -126 .. .. - .... 127 -127
ht Lo. Crosse Div .. .. '7 109 -110¾ 110 -110½ 110 - 110 110 -112 112½-116¼ 114 -116¼ 109¾-109¾ 110¼-112 113¼-114 113 -114¾ 113%--114¼ 114¼-114¼
1st I. & M. Div ....... . ,- 114¾-114¼ ll~-116 1115¼-115½ 115!,(-116 117 -117 120 -120 115¼-119 .. .• - .... 117 -119 117 -118 117 -118 118¼-118¼
1st I. & D. Dlv ........ '7 118¼-120 .... - .... 118 -118 ... . - .....•.• - ••.. . ... - ... . 119 -119 .... - ........ - .... .. .. - ... . 117¾-118 119¼-119¼
1st C. & M. Div .... ... '7 124 -124 124 -125 125¼-126 125 -125 . ... - .....•.. - .... 124¼-126 .... - . ... 125 -126¼ 124¼-125 124¼-124¼ 126 -126
Consol., 1903 ... ...... ,. 122,¼-124¾ 128!J.!-1243e 124 -125 126 -126¼ 1261,s-129 129 -130¼ 126¼-127¾ 126¼-127 126 -127 126 -127¼ 127 -128 128 -129¼
1st I. & D. Exten ..... 7 l~.(-122!1:( 128¼-12B½ 124 -125 126¼-126¼ . . .. - ....... . - ....... - •..... . . - ... ..... . 124¾-126 125 -127 127 -127
1st So. West Dlv ...... 6 112 -115 114 -115¼ . ... - ..•..... - ... . . ...
. . . . 115 -116 117 -117 ...• - •• •. 117¼-117¼ .•.. - .... 117 -117¼ 115¾-115%
1st Lp. C. & Dav ..... . ~ 102¾-102¾ .... - ... . 102½-102¾ 103 -103
- .. 105 -107 .. .. - . .. . ••• - .... 105 -105 ..•• - .••..... - ... . 105 -105
ht So. Minn. Div . .... 6 110 - 111 llOJ,ii-118 110¼-112~ 111¼-113¼ 113¼-115¼ 115¼-116¼ 113¼-114¼ 115 -118¼ 120 -121 116 -119¼ 116 -117¾ 117 - 117¾
1st H. & D. Div . ... . . . 1 119¾-120'¼ 120¾-120¾ 121 -121
•.. - . . .. 1241¼-127 129 -129 124¼-126½ 125 -125 126 -127¼ 126¼-127 125 -125 .... - •• • .
1st H. & D. Dtv . ... . . ~ .... - . . ... .. - ... . 99¼- 99¼ 101½-101½ 108 -105¼ 106 -107¾ 104¾-104¾ 103¾-104¼ ... . - .... 104!1(-104:1.{ 104 -104¾ .. . . - ... .
Chic. & Pac. Div ..... . 6 118¼-118½ 119)4-119¼ 118 -119 1187<1.-11 8:Jr. . ... - . . . . . . . - .... . ... - .. .. 117¼-117'¼ 118¾-120 .... - .•. . 120 -120 118 -118
Chic. & Po.c. W .Div .. 6 108 -105¼ 105 -106 105¼-1051,s 105¾-106¾ 107 -108¼ 108¼-109" 1
-107 106¼-107 107)4-108¼ 1061,s-108¾ 106¼-107¾ 107 -108
Chic. & Mo. R. Div .. 6 98¾- 100
99 -100
98¾-100
99 -101½ 101½-104½ 105 -107¼ 103 -104¾ 104 -104¾ 104¾-104¾ 104¼-104¾ 103¾-104¾ 103¼-104¾
Mineral Point Div ... 6 98 - 99" 100 -101 101¼-102 101½-102 101¾-105 10~¼-106}' 104 -106 104:1.(-104¾ 104'¼ 107 103¼-103¾ 104 -104 105 -106
Chic. & L. Snp. Dlv.6 .... - . .. . .... - . ....... - ... .... - .... 103)4-105 106 -106 ... . - .. . . .. - ....... - ... .. ... - •.. 105¾-105¾ 104¼-104¾
Wis.& Min. Div .. ... . 6 00 -101¼ 100 -102 100 -100~ 99¼-103 103¾-106 106 -108¼ 104¼-106 105 -105¾ 104¼-105% 104¾-105¼ 105 -105 1041,s-105
Terminal .... ........ . . . 6 100 -102 101¾-102½ 101½-102 102 -102 103 -106½ 106¾-108 105 -105¾ 105½-106 105 -107 105 -105¼ 105 -105 104 -105¼
Inc. conv., S. F ....... 6 •··· - •·· · 90 - 90 ...• - . ... . ... - ... .... . - . .. . 100 -100 .... - .... 101¼-101¾ .... - .... .... - ....•••. - ..• . • •·· - •·· ·
Dakota & Gt. So •.. .. i,i •••• - . ••• 92 - 92 ..•. - .... 96½- 97½ 99¼-100¾ 100¼-104¼ 101¼-102 101 -101¼ 102 -102 .. •• - .... 100 -100 99 -100
Chic. & N orthwe ■ t'nConsol., 191~ . ... . ..... ')' 143¾-147 144¼-14~145 - 145½ 145 -145~148¼-145¼ 145¼-146½145 -146¼145 -149 148 -148 144 -144 142 -144 143 -144
Gold, coup., 1902 ... . 7 129¼-182 180¾-181¼ 181 -181½ 130¾-131¼ 132 -188 U0¼-130½ 130¾-130¾ .. .. - .... 129¼-129½ 129 -129¾ 129¼-130 125¼-126¼
Gold, reir., 190!1 . ..... ')' 130 - 131½ 130¾-131¼ 131 -181½ 130 -182 132 -132 129½-130 130¾-130½ 129 -129 128¾-129 128 -129¼ 125¼-130 125¾-126
Sinklna: fund, coup .... 6 119 -119 121 -122 .... - ..•. 122¼-123 122 -122 122¼-122¼ 122 -122 120 -120 121 -121 117 -117¾ 115 -117¾ 115 -116
Slnklnir fund, coup ... 6 108¾-l OO¾ 109¾-111 llQ¼-111 109¼-110½ 110¾-111¼ 110!}.{-112 111 -111¾ 109¾-110 110 -111 . .. . - .... 107 -108 107 -108½
Reiiistered . ....... .. . ~ .... - .. ...... - ........ - ........ - ... . 111 -111 . ... - ... ..... - . . . . . . . - ........ - . .... .. • - .. . . 106 -100 100¾- 106!4
Debenture, 1933 ..... ~ 109 -110¾ .. .. - .... . ... - .... 112¾-113 113 -113¼ 114 -114 . ... - .. . . 114¼-114¾ 116 -116 114¼-114¾ 109 -111¾ 110¼-110½
26 yrs, deben., 1909.6 105 -106 106¼-107 106¼-107 109 -109 105 -106½ 107 -108¾ 108 -108 106 -107 106¾-106¾ 106½-107 10-!½-105¾ 105 -106¾
Reiristered ... ...... . 6 .... - ... . .... - . .. .. ... - .... 105 -105 106 -106¼ .•.• - ........ . ... - ....•.•. • • • • - • • ..
.Exten. bonds, 1926 .. 4 98 -101¾ 100 - 104¾ 100 -101 100¼-101¾ 101 -102 ...• - .... 101½-102¾ 09¾-102
99 98¾97¾96 - 98
Reaistered .. ....... . 4 . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . . . . - .. . . 101 -101½ 99¼- 99¼ . . • . - . . . . . . • • - • • . . 95 - 95
96 • 96
Iowo. Midland-1st ... 8 184 - 184 133¼-188¼ 185 -185 ... . - . . . . . .. - ........ - . . ... .. - . .. . 130 -130 130 -180 129 -130 .. .. - . . . • ••• - • · · ·
Olde.& Mil.-bt ...... 7 120 -122 121¾-1 21¾ 122 -122½ 122¼-128½ .. . . - .... 124 -124 .. . - ... . . . .. - . .. . .... - ... . 124¼-126¼ 122¼-122¾ 123 -123
Wlnono.& St. P.-2d.'7 ... . - ....... - .... 135 -186¼ 136¼-186½ 184 -184 .... - ... . . ... - ... ... .. - .. .. .. .. - ... . 132 -132 . . . . .. 130 -130
l'tlll. & Mo.d.- lst ..... 6 ... - ... . 117 -117 .. .. - ........ - ........ - . ... . ... - .. . . 120 -120 . ... - ••. . 116¾-116¼ . ... - .... 118 - 118 · ·•· - ••••
Ottum. C. F. & St. F .6 ..•. - ........ - . ... 106¾-107 .... - .. . . 109¾-109½ ...•. - .... 109¾-109¾ .. . . - ......•. - . . . .. ... - .... 108)4-108)4 · · •· - · • • ·
Northern Ills.-lst .. 6 .... - .... 110 -110 106 -107 108 -108 108¼-108¼ .... - . . . . . •.. - .• . 109¾-109¾ .... - ... .. .. - ...
•• •• - •••·
Chic. Peor. & St. L.,a- .G .... - . . . 95~- 97
95 - 98
97¼- 98¾ 98¾- 98!14 98 - 9~ 97 - 98
96 - 96¾ .... - • • . . 92½- 93
93 - 94¾ 92 - 93
Ohle. R. I. & Pac.Coupon .... ............ . 6 133 -138 131¼-133 131¼-13%¾ 132 -134 184 -187 188¼-188½ 133¾-135½ 134¼-134½ 136 -136 186 -187 134 -187 136 - 137
Reiiistered ..... .. . .... . 6 .... - ..... . . . - . . . 130½-131 . . . . - ... . 135 - 135 .... - . . . 133 -133 . ... - . ... .... - .. .. 134%--135 133¼-133¾ · · · · - · · · ·
Esten. & Col .......... 6 104¾-106 105½-106¼ 104¾-1051,s 104¾-107¼ 107¼-107¾ 107¾-108½ 105¼-106 104¾-106¼ 105½-100¼ 105¾-106¾ 105¾-106¾ l05¼-l07 ¾
Re1rl8tered .. ....... . 6 lOIS¼-105¼ 105½-105½ 105¾-105¼ .... - .. ...... - ........ - . ••. . .• - ... . . .. . - ••• , .... - ... . 105¾-105)4 .. .. - .... 105)4-105¾
Keok'k&DesM.- lst,6 103 - 105 .... - .... . .. . - ... . 103¼-105 105 -106¾ 106 -107 107 -107 .. . . 106¼-107 106 -105 103¾-103¾ 105 -l05
Des M. & Ft.D.-lst,4 88 - 88 82¾- 83
85 - 85 .... - .... .... - ... ..• • - ... ..... - . ... 87 - 88 .... - •. . . 86 - 86 . ..• - •. . . 86 - 86
1st, 190G .......... .!l¾ 52½- 52¾ 54 - 54¼ . . •• - • • • . . . . • - • • • . • . • - . • . • •.• - .•..••• '
- •• . . . ••• - • • • . • • • . - •••.•••• - • • • . 63 - 58
Extension .... ... .... .4 .... - ... . .... - . . . . 84 - 84 .... - .. .. .... - ........ - •.. . .... - ...... .. - .... ...• - •.. .. . .. - •...... - • . . . 86 - 86
Chlc.St.L.&Pltte-lst.6 96¾- 97
97 -100 100 -100
96 - 97
97 - 97¼ v7¾- 97¾ 95 - 95
92 - 95
95 - 96 . . .. - . .. . 93 - 93¼ or,_. - 9 7¾
Chic. St.P. Min.& Om.Consol., 1930 ........ . 6 119¼-121¾ 121¼-122 121 -122 121¾-123 122¼-124hi 120 -123 122 -123¼ 123 -123¾ 123¼-124¾ 121¾-124 120 -122¾ 119¼-121
Chlc.St.P.&lll.-bt . . 6 128¼-123½ 125 -126 127 -127 .... - .... 124 -124 125 -125'4 126 -127¾ 127 -127
126¼-127¼ 123¼-124 124 • 124¾
St. P. & S. City-lst .. 6 124 -125¼ 125 -126 1261,s-127 125 -125 124¼-124¾ 125½-12'1 125½-126 126¾-127¼ 127½-127¼ 124¼-126 123¾-125¼ 123%-125
Cbtc.&W.1.- l st, s.f.. 6 ... - ... . .... - ... . . . . . - .... .... - . . .. ... . - ....... - . . . . ... . - .... .... - . .. . .... - .. . . .. .. - .. .. 11-i -114 .... - ··· ·
Gen. mort,, 1932 ..... 6 119 -119¼
- .. .. 117½-117½ . ... - . . .. 118 -118 ll8 -118 . ... - .... 118 -118 .... - . .. . 120 -120 119"-119¾ . .. . - · ···
Oln.In.St.L.&C.-lst.4 96¼- 97
98 - 99
97¾- 98¾ 98½- 99¾ 99¼-100
99¾-101¼ 101¼-102¼ 102 -103 101 -104 101 -103¼ 100)4-100¾ 99 -lOO
Consol., 1920 ......... 6 .... - ....... - ..... . .. - ... 119 -113
... - . .....•. - . •.. ...• - . ...... , - ........ - •... •··· - • ·· · •·· · - •·· · ·••· - •• ··
Otn. J. & M.- lst,con . 6 .... - . . . . 94. - 94
94 - 94 . . . .
. ....... - ........ - •... •. .. - .......• - •....•.. - ... . .. • • - • • • • •• •· - • •· · •· · · - · • · ·
Ctn. San. & Clev.-2d .7 .... - .... .. .. - . .. . .. - .... 100 -100 ... . - •.... . .. - . . .. .•. . - . .. .. . .. - ...... .. - ....•.. - •......• - ••.. •··· - ••• ·
Consol.1st, ir., 1928.:i .... - ...... . . - .. ...... - ... . .... - ........ - . . . . ... - ........ - ... . .... - .... 105 -105 . .. . - •. ...... - •••.• •• • - ••· ·
Ctn. Wu.sh. & B., p. 1.4¼ . . . . - . . . . 94. - 94 . ••• - •• •. •• •• - ••• . •••• - • • • • 98 - 98 .... - .. ... .• . - . ....... - .. ..... . - .. •.. ... - •••. • • •· - • •• ·
Cleve. & Canton- ht .~ 92¼- 95
94 - 96¾ 95 - 96
95¼- 97¼ 96 - 97¾ 97¾- {19
92¾- 98¼ 93 - 93'¼ 93¼- 96
93 - 97
94¼- 96
96 - 99
Cl. C. C.& I.;_ht, s. td.1120%-122½ 122¼-123 123 -123¾ 124 -125 .... - ••.. 122¼-122¼ .••• - .... ... . - .... 123¼-123¾ 123 -124 119¼-120 119¼-119¾
Consol. ................... '7 180 -188 .... - .... 133 -134 134¾-13!> .. . . - •... 188¾-133¾ .... - . .. ... .. - •....... - . .... .. . - . •• . 136 -136¼ 134 - 134
General cons ...... ... . 6 112 -na 115 -116¼ 116½-117 118 -HS¾ 119 -120 120 -120 . ... - . ... . .••
. . .. 120¾-125 123 -123 118¼-122 120¼-123
99½ ·
~!~~c~o.~;1;·.~;~~~:~~::
Colorado Mld.-lst, ir.6
Col.H.Vo.1.&T.-bt ... ~
Gen. irold, 1904 ..... . 6
Col.&Hock.C&l.-'1'7.6
Col.&Green.-lst,'16.6
2d mort., 1926 ........ 6
Col. &Cin. Mld.-lst .. 6
Cumb. & Penn.-lst ... 6
Del aw. & Hud. Co.nalht, 1891 .. . ... ..... .. ... ,1st extended, 1891 . . ,Coupon, 1894 .......... '7
Rear., 1894 ............. ,
Penna. DIT.-Coup ... '7
i~~
. .. - ........ - ... ..... - ....... . ...... - ...... .. ... - ........ - ........ - .. .. . ... - ... . .... - ... . .... ... . - ..... ... - .. .. .. . . - .. . .. ... - ........ - . . . . .... 90 - 90¾ 90 - 98
89 - 92 .• •. - .•.. . .,. - ••• 92 .... - ... . 105 -105 . . .. - . .. . . ... - .. . . ..•. - ....••.• 106¼-106¾
110¼-110¾
ll~-1177Ai
11'7 -11~
.. .. - . ...
Re1tl•tered ..••.•.... 7 .••• - ....
Alb. & 8usq.-l1t, au. 7 136 -136
t.st coup., a-uo.r ...... 6 124 -124¾
..Jons. & Sar.-let . ... , 145 -145
0::~~;:1'::;t·~~~.~~:; ~~~
Reiristered ... .. .. • •· '7 .... - ....
Syr.B'n ~N.Y., lst .. 1
Morris & Essex-ht.,2d Mortaraa-e ......... 7
· ,1900 .. . ... ............. ')'
·1871-1901. ...... .... 7
Consol., 1r11ar ......... 1
N.Y. L. & W.-lst . ... 6
Construction ........ 6
Denver & Rio G.-let.,Jfew coneol, 1936. :.4
Imp. M,, a-,, 1928, ••.. 6
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80¾- 8-l¼ 84}(- 87!1( so - 84% 74 - 88¼ 70 - 77¼ 65¼- 73¾
82 - 84
84 - 87
85 - 87
75 - 85½ 69¾- 77
55 - 1$6½
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106¼-106'¼
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118 ~- 118
117 -117
146¼-146¼
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196 -186
125¼-125½
149 -150
149¼-1411½
!1~
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.... - .... 187 -188
144¼-146 147 ·148
109)4-110¼ 1061,s-107
122¼-125 1215¼-125½
127¼-127~ 128 - 128
.... - ... . \148¼-144¼
131¼-131½•138¾-185
11$¼-113¼ lll¼-112
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119 -121¼1 1201,s-122
75 - 78
76¼- so
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106¼-106¾ 106M-107¼
. .. . _ ........ _ .. ..
117¼-118 114 -115¼
.... - .... lU¾-114¾
144¼-145!J.! 147 -147
.. •• _ ••. ...•• - ~-· ·
185 -186 .... - ....
125¼-12~'¼ 1223'-124¼
150 -150 150 -150
...• - .... 150 -150
99¼ ·
98¼
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ioo¼=1ci2·· ·os¾=100 .. ·98¾=io2·· io1¼;=1ci2··
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.••• ••. • - ••.••••• - •.. . , ••• - ••••
60¾72¼- 75
73 - 78¾ 76 • 77 ¾
50 - 64
54½- 62
65¾- 72¼ 71 - 75¼ 73¼- 81 \ 76%- 70½
..... ... - ........ - .. .. . .. . - ... . 98 - 98 ..• ·• - •••••••• • ·· ··
... . .... - . . ... ... - . .. .. .. . - ........ - .... 105¼-105¼ •··· - •· · ·
........ - .... 86 - 86 •.• • - ....• ..• - ... . ••.. - . •••
- ····
98 . . .. - . .. . 89 - 89 .... - ....... . - . ... 90 - 98
91¼- 9l~
.. .. . ... - ........ - . . . ..••• - .. . ... . - .... .... - •••.
.., • ... .
12·· .66¼- 75 .. ·;,2· - 77 ..
107¼· 108 105 -108¾
108¾-108¾ 105 -108¼
ll¼ll:(-116 116¼-117
.... - ... . l15¼-116¾
147¼-148½ 147½-148
.••. - ........ - .. .
104!J.1:-106 104¾-104'¼ 104¾-104¾ 105 -105¾ 105¼-106 l~l06
.. .. - ..... . . . - . .. ...•• - . ... 106 -106 .• •• - ••.. 106 - 106
116¾-117 117¼-117¼ .... - .... 112%--113 112¾-113¼ 113½-llS¾
117 -117 . •.. - .... 114 -114 .... - · .•. ···· - •... •· ·• - ·· ··
148 -148½ .... - .. .. 142 -142 144 -144 144¼-144¾ 144 - 144
147 -147 149¾-149¾ 14.3 -148 .... - .. .. 14.4 -144 • .. . - •···
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. ..... ..
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• • • • •••
•• • • • • • •
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135 -135 .. .. - .... •••• - · ·· ·
124 -124¾ 123¾-125!4 124 -125¾ 125 -126½ 125%--126 122 -122¼ 121¾-122¾ 122 - 123
.•.. - •.. . 150 -150
.. - •.. . 149 -150 .•.. - ... . ••• • - • • •· • . . • - • •· • 146 - 146
146 -l46
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189 -189 •.•• - •... 186 -136 188 -188 . . . . - .... 136 -136 187¾-138 132 -132 182~-13~ ···· - ... .
146 -147 146¼-146½ 145 -H5 147¼-147¾ 146 -146 147¼-147¾ 148 -HS 148%--149¼ 145 -146¾ 144¼-147¼
107¼-107¾ 107¼-l0','' 4 107¾-109 1089(-109~ 108%--109¼ 105¾-105¾ 105¼-105¾ 105!14;-106¼ 106¼-106½ 106¼-1~
.. .. - . . ...... - .... . ... - ........ - . .. ••• • - ....... - . .. . .... - ... · .... - .... · · · - .. . ....• - •...
129¾-129½ 125¼-125~ 126 -128½ 129!,(-120¾ 130)4-130¾ 130 -131 130 -131¼ 127¼-127¼ 125¾-lU · ··· - · · ··
144 - 145 144 -145 145¼-147 144 -144 143¾-143¾ 144 -144 144¾-145¾ 144¼-145 144¾-145 140¾-140¾
136 -186 136 -187¾ . ... - •... 188 -188½ 136 -136 136¼-136¼ 137¾-137¾ 137 -137¾ 135¼-137¾ 134 - 136
112 -113 112¾-118¾ 114¼-115¼ 115¼-116 115¼-116¼ 114 -114½ 113¼-113½ 113 -113½ 112 -112½ 112¼-llS
120 -121 121¾-122¼ 11~119½ 119"-120~ 110¼-121 121¼-122¾ 122¼-123 122!,(-122¾ 118¼-118~
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79 - SO¾ 79¼- 81¾ t!O¼- 82¾ 81¼- 82½ 78¼- 79¾ 78¼- 79¾ 79 - 7g1,s 77!,(- 79¾ 77¾- 78¼ 77!,(- 7'0
80¾- 82¾ 81 .. 82¾ 82¼81¼- 84
83¾- 85¼ ......... ••• 84.~- 84¾ 8'L - &I.½ 8' • Q6
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RAILROAD
BONDS.
1889-Continue d.
BOND8.
JANUARY FEBR'RY. MARCH.
APRIL
MAY.
Jmrn.
JULY.
AUGUST. SEPT'BER. OCTOBER. NQV'BER.
DEC'BEB
- - - - - - - - - - - - - - - - - - ------1-----1---·-
_ _ _ _________ !-'ow.High Low.High Low .High Low.High Low.High Low.Illgh Low.High Low.High Low.High Low.High Low.High Low.High
Denv.&R.G.W .-lst . . 6 84½- 86 88½- 95½ 98½-102 101½-101½ 100 -101 ..• - .. . . 101 -101 . ... - ........ - .. .....• - ........ - ........ - . ..
Asaented, lst ... ... .... 6 78¾- 77% 78 - 86
82¾- 93M 85 - 90
87 - 00¼ 92½- 92½ .... - ... . 91¾- 91¾ .... - ........ - ....... . - •....... - .. .
Trost receipts.. . ....... - ... . .... - . ... ... - .... 85½- 88¾ 86¼- 92 9~4- 9::J¾ 89 - 91
90¾-- 93
91½- 95
94 - 97¼ 96¾-100
08 - ~
Denv.So.P.&P.-lst.7 81 - 81½ 81 - 85 84 - 87 85 - 87 89½- 93 9Q½- 90½ .... - ... . ... . - ........ - . . . . ... , - . ...... . - ... ..... - ...
Trust receipts . . .. . . . .. . . . . - . . . . . . - . . . . . .. - . . .. . . . . - . . .. 80 - 94½ 91 - 92½ 90½ - 93% 94 - 04 89½- 89½ 87½- 69¾ 89½- 91 . .. . - ...
Det. M. & IU.-L. a .... 3½ 34 - 84¾ 34¾- 40 87 - S8 80 - 30 86¾- 87114 85 - 85>:1 33 - 35 32 - 35 34 - 35
35 - 38
31½- 35
37 - 87
Det. B. C, &Alp,-lst .. 6 103 -105 104½-108½ 107 -108 107¾-10':"½ 107 -107¾ ... - .... 100 -106 10:i½-105½ 10-i¼-105 104 -105 104 -104 104 -106
Duluth & I. R.-tst . .. ;i 96%- 99 90¼-104 101½-102½ liS¾-100 99½-102¾ H,l'.:!-102 101 -102 102 -103½ 102¼-103½ 100½-101¼ 99 -100½ 100 -101~
Doi. S.S . & Atl .,193,-.:i 80 - 89½ 80½- 89½ 89 - 89 80 - 93 O:.¾-- 00¼ 08>t- !JO¼ 94 - 06½ 93½- 95 03¼- 94½ 92½- 94 93½- 94'½ 94 - 96
E. Tenn. V. & G.-lst .. 7 120 -121 121 -121½ 1211,4-122 122 -1 23 .... - .... 124 -124 122½-125 125 -125 123½-123½ 124½-124½ .. .. - ... . 12'., -123
Divisional. ... .. .... ... .;i .. .. - . . .. 112 -112 111 -112 112 -11 ~ ... . - ........ - ........ - ........ - ....... , - . ... 110¾-112 109½-109½ 109½-109½
Consol., 1st, 19:16 .... ;j 102 -104¾ 104 -105),; 104½-IGU 105½-10,~-t 105¼-108½ 107 -108 105½-108 107¼-108½ 107 -107¾ 107 -108 104- 105 1® -104¼
1st Ext., g-., 1937 .... o .... - ........ - .... .. - ... . ... - ... . .... - ... . .. .. - ........ - ... ... - ........ - .. .. .... - ... . 92½- 92¾ 90½- g()jij
Equhl, & Imp., gold .. ;j . ... - . . . . 92!,i- 92¼ 01¼- 92½ 91½- 91½ 91 - 01½ .. . - . .. . 95 - 95¼ 95 - 95¼ 92¾- 92% 92~- 92% 93 - 93 ... . - ...
Mobile & Birm.-lst.:i .... - ... . .. . . - ........ - . . ..... - . ... l:t5½- 06¼ 96 - 96 .... .... - .. . . .... - ... .. ... - . .. . .... - ........ - •..
Knox. & O,-lst, 11°•• .6 101 -108 l02¾-105½ 105 -106½ 106½-100,4 109 -110 HO -111¼ 108 -109 109 -112 112½-112½ 111 -112 110 -111½ 110 -110
Alabama Cent.-lat.6 .... - . ... .... - . ... .. .. - ... .. ... - ........ - ... ... - ... . 113½-llS½ .... - . . . . . .. - .... ... . - . . . . •.• - ........ - .. .
Eliz. Lex. &Big. S .... 6 99 -101 lOQ¼-106 101½-102 101 -103 102½-104~.! 104 -106 105½-105% 105½-107½ 104%--106 105 -105½ 104 -105½ 103 -104¾
Equit. Go.s. & F.-tst.. 6 .... - . ...... - .. . . 98¼-100 100 -100 101½-107½ lOt> -106% 103 -104 1103 -103 102½-102¼ 101¼-101½ 102 - 102 100 -100
E1·ie-lst, Ext., 1891' .. ')" 121¼-121½ 122 -122 120½-120½ 121 -121 118 -118 118 -118
... - ... . .... - ... 120 -121 122 - 122 118 -118 119½-120
2d, Ext., 1919 ......... :i 118 -118 .... - ........ - .... 118½-118¾ .... - ... . . . . - . . . 119¼-119¼ 120 -121½ ... • - .... . . . . - .... 117 -117 118 -118
3d, Ext., 1923 . . ... .. 4¼ 111¼-112 112 -113 .. .. - . .. 110 -110 .... - .... 111 -113 113 -113 113 -118 .... - . .. . .. . - ........ - . .. . . . . . - .. .
4th, Ext., 1920 . ...... :i .... - .... 115 -115 .... - .... 115 -115 .... - .... 118 -118,f ... . - ... 119 -119 119 -120 116 -116 116 -117¼ 115 -116
!itb, Ext., 1928...... .. 4 100¼-100~ 101 -101 101¾-101% .... - .... 102½-104: 102 -103 103¾--103½ . ... - .... 103¼-104 103¼-103½ 104 -104 102¼-103
1st, consol., gold ...... 7 137¾-141 141 -141¾ 187 -lSi¼ 137!1,:£-189 189 -141½ l!l0½-141~ 141¾--142 142 -142 138)4-130 187½-138¼ 137¼-139 137 -138
lat con. fund coup .... ,- ... - . .. . ... - ... . .... - ... . .... - . . .. . . - ... 188 -138 .... - . . . 188 -140 ..•. - •....••• - .... 136½-136¾ . ... - • ..
Reorge.JJ,, 1st lien ... 6 .... - ........ - . .. . . .. - . .. .. ... . . 112 -112 .... - .. . . .... - .... . .. - ... •·· · - •· · · .... - ... • •··· - . .. · · · · - · ··
Long Dock, 1893 .... .1 ll()¾-112 112 -112½ 112 -112½ 112'7/4-113 114 -114 111 -111:}{ 111 -lll½ 111½-112 .. .. - .... lll¼-111¼ lll½-111'4; 108¼-1~
Cons. gold, 1935 ... 6 121¼-122 128 -128 121 -121 118 -119 120 -120 120 -120 120 -120 120 -120 .... - ... . ... - ........ - ... ... .. - .. .
Buff. N, Y. & E.-ht. 1 140¾--141½ 142 -148 142½-142¼ 145 -145 143 -145½ l!l2~-143 . . . . - • . • . . • . . - . . . . H3½-143¼ H2 -142¼ . . . . - . . . . . . ..
. ..
N.Y.L. E.&W.New, 2d consol. .... . 6 98 -102¾ 102½-103¾ 101~-104¼ 103 -106¾ 106¼-107½ 108½-104¾ 102 -104 102½-104!1( 103¾-105½ 103!1(-105 104¾-105¼ 1()()%-102¼
)Col. trust, 1922 ... .. ti ... .
. . . . 110 -110 .... - ... . .... - . ... . ... - ... . .... - ........ - . .... . .. - ........ - ....... - .... ... . .... - . ..
'Fund. coup., 1969 .. ;j 89½- 92 94½- 94¾ 94%- 94.½ 93 - 9! 94 - 94¾ ... - .... 89½- 92 89 - 89 90¼- 90% 88 - 89½ 88 - 88 87¼- 88
Income .... .... ....... . 6 .... - -··· 70 - 72
78 - 76
70 - iO
73½- 78½ .... - . . ... ... - ...... .. - ........ - ... ... .. .. .... - .. . .... - • • •
Je1fe1·son RR.-lst2".:J .... - ... .... - ........ - .... .... - ... . .... - ...... . - .. . . 106 -106 ... . - •.. . 108 -108 105½-105½ . ... - ... . lO!l½-105
E1.•le& Plttsb.-Con ... 7111 -Ila;½ .... - .... 115 -115 .... - ... . .... - . . ...... - ....... - ........ - ........ - , ....... - ........ - ...... . . - ·· ·
Eureka 8prings-l11t . . 6 .... - . ... . .. - . . ...... - ... . .... - ... . 102¾-102¾ .... - ........ - ... . · ... - . .. · .. · · - ···· ·· ·· - .. ·· .. .. - ........ - ···
Ev. & Ind'p,con.,1926.6 .. .. - ... . 108½-100 111 -111¾ 111 -111 111 -111 111 -112 111 -112½ 115 -115 113:¼;-115 115 -115 lH -114 118¼-113¼
Ev. & T. Haute-Con .. 6 115¾-ll7¾ 115½-118¾! . .. - .. .. 118 -119 no -120 120 -120 117½-117½ 123 -123 118 -119 118 -118 118 -118 118 -119
Mt. Vernon-1st ....... 6 .... - .... 112 -112 112 -112 110 -114½ 115 . 116 .... - . .. . . .. - .... . ... - .... .... - ... . .... - . . . . ... - ...... .. - • ..
FJlnt & P. M.-lUort ... 6 121½-121½ .... - ........ - ... . 120 -120 122 -122 122 -JZJ 122 -122 ... . - .... 124 -125 122¼-122¼ 122½-123 . ... - .. .
1st cons., a,, 1939 ... ;j .... - ........ - ........ - ........ - ........ - .. .... .. - .. .. . .. - .... . ... - .. . . 107¼-107½ 108 -108 104½-IO!l¼ 105 -105
Ft.W.&DenY,C,-bt .6 90 - 95 94 - 96 92¼- 94¾ 92 - 95¾ 95½-101 96½- 08¼ 9Z. - 97¾ 92%- 95)4 04¾-101½ 99½-10!¾ 103¼-109 103½-1~
Go.Iv. H . & H. ot'S2 .. ;J •••• - . ....... - ...... .. - ........ - ... 70 - 71
':'I½- 73
73¼- 74 . ... - ........ - ........ - ···· .... - . . . ... . . - ···
Go.I. H. & SauA.-lst .. 6 .. .. - ....... - .. . ... .. - .... 109¼-IOIIJ.,., 110)4-110¼ 110- 110 ... - ...... - ... . 106¼-100¼ 108 -108 106¾--106¾ .... - · ..
2d mort, 1905 ......... , 98 -100¾ 100½-103 103 -lO!l¾ 107 -107 101 -107½ .... - .... 103 -103½ .... - ........ - ... . 100 -100¼ .. .. - .... 99 -100
·western Div-ht .... :i 94¾- 95
96 - 95¼ il5 - 95% 95¼- o~ 92¼- 02¼ 92¼- 98
03¼- 93¾ 03½- OS~.! 93¾- 04% 94½- 95¼ 92¼- 92¾ 92%- 93~
Ga.Co.,N.C.-Col,tt' .. ~ . ... - . .. . .. . . - ... . . . . - . ... 99%-100 ... - .... . ... - . ....... - ........ - ... . . ... - ... .... - .: .. .... - ... . ··· - ···
Gn. So. & Fla.-lsr., 2"·6 .... - ... .... . - .. .... . . - ........ - ..... .. - .... 101 -101¾ S8½- 99 .. . . - .. . .... - ........ - •.. .. ..• - .... 99 -100
Gr. Rap.& Ind.-Gen.:i . .. . - . . . . 117½- 98 95 - 95!!:( 97 - 97 . . . . - .. . . . • • - .. . . 05¼- 95¼ 95½- 95½ . . . . - . . . . . . . . - . . . . 90½- 90½ .. • • - • ..
111t guar ................. 1 .... - ........ - ... .. ... - ..... . - ..... .. - .. . ... - .... 120 -120 .... - .. .. .... - .... .. - ..•...•• - ....... • - •..
Gr.B. Win.& St.P.-lat.6 75 - 80
715 - 80
83 - 68
88 - 88 ..•• - • • • . .. • - ........ - • • • • 80 - 80
79 - 80 .... - • . .. 88 - 83
B¼ - 84'
1st M., coup. 011'.. ... . 6 .... - ........ - .... .... - . . .. . .. - ........ - ... . ... . - ........ - ... ..... - . . . . 78 - 81
81 - 82
82 - 83
80¼- 81
2d, Income . ... .......... ~ 18 - 24½ 20 - 25 20 - 22~ 19 -· 22 20 - 211,~ 19~- 19!)4 13 - 17¼ H - 17 16½- 18 13 - 16 18 - H½ 18 - 13
Han. & St. Jo.-Cona. 6 120¼-122% 122¾-124 120½-121 120%-12~ 121½;-122 12Z¼-128½ 122¾-123½ 123¾-123¼ 119 -119½ 119 -119 117 -119¼ 117 -119J(
Hen. Bridge Co.-lst ... 6 .... - .... 111 -111 . ... - ........ - .. . 109½-109½ . . .. - .... 110 -110 ... - . .. . .. - ... . .... - .. .. .... - ... 109½-1093{
Housat'c-Uon.,1937 .. 5 106:J-4-107¼ lOi½-108¾ 107¾-108¾ 107½-10~ 105~-105% 106 -106;-si 104¾-104¾ .... - . ... 106½-106½ 106¾-106¾ 105 -105 106 -106
Hous.&T.C •.-lst,M.L.1 126½-127 .... - ....... - ........ - . . . . . .. - . .. .. .. - ... ..... - .. ...... - . ....... - . . .. .... - ....... - ....••• - •..
JU. L. Trust rt'c .... . . , 116½-119 120 -124½ 122¼-126½ 128¼-125% 124¼-125½ 124).,-125½ 124½-126 120 -127 116½-117 lU -116 115½-116½ 115J,i-116M
l•t, Westel'n Div ...... , 126 -126¾ ... - . .. . . . - .... . ... .... - ... . . .. - ... . .... - ........ - ........ - ........ - . ... ... - •.•..... - •••
Trust receipts .. .... ,-113 -113 119 -124 124 -124 124 -125>!! 12i½-124½ 125 -125 125 -126 125 -127 .... - .... 113!1.(-115 116 - 116 .... - •.•
W, & N. Div ..... . .... .1105½-105½ .... - .. . . 105¼-105½ .... - ....... - ... . .. - .. .... .. .. .... - ....... - .... ···· - ···· .... - ···· .... - ··•
2d, M. L ., trust rec .. 8 112 -112½ 118½-118½ 116 -118 118 -120 121 -121¼ t 20 -121 120 -121 121 -124 125¼-125% 120 -124½ 120 -120 120 -120
Gen, M . , Trust rec ... ff 70 - 71¼ 72 - 76% 75 - 76½ 7!l¼- 79¼ 77½- 78½ 78 - 78½ 7-S - 79½ 77%- 82 80 - 83½ 78¼- 80½ 79 - 79
78 - 78
Ill. Cent.-G., 19:il.3½ 91¼- 95 98½- 93J.<i 02½- 95 95½- 95¾ 94}(- 95 05 - 96% 95 - 93 95 - 96
O!l¾- 9!l¾ 94¾- 95 ... . - •.. . 95 - 95
Re1dstered . ... ..... 3½ 90 - 90 .... - ........ - •.•. 9! - 9.1 . . •. - ... .... . - ... . .. . . - ........ - ........ - ... . .... - .. .... . . - ....... - •..
1st a-old, 19:il. ... .. .. 4 105 -106 t06 -109 108¾-109 109 ...109 10 ¼ ·110 110 -110½ 107 ·- 108 100 -109 106½-108¾ 109¼-109½ 109½-109¼ 109½-100½
Gold, 19:i2 .. ........... 4 100 -100 lul -101½ 101 -101
99 -102¾ 101)4-102 101¾-102 101%-102 102)4-103 102¾--103 100 -101 . ..• - .... 101 -101
8prlngt. Div., '98 ... . 6 ... - .. , ..... - .... ... - .... 115 -115 .... - ... . .... - .. ...... - ... . .... - ... .. ... - .... 113¼-113¼ 113½-lU¼ .... - .. .
C.St.L.&N.O.-1st,c,1' 118':(-119 120½-120½ .... - ... . 119¼-120 116 -110 .. . - ... . 118 -118 118 -118 119¾-121 121½-121½ 119½-119Ji 118¼·118¼
Tennessee lien ...... ') .... - .. . 120 -120
... - ........ - . . .. . .. - ... . .... - ........ - . .. .. . - ....... . - . ... 121 -121 .... - ... . .... - •••
Gold, coup ... ........ ,;j 115¼-116'.¼ lltl¾-117 116!1.(-117 117 -119 119 -120 118 -120 117½-118¾ 118½-118½ 118¾-118½ 117)4-119 117 -117¼ 11¼'4;-117
Gold, reg ........ .. .... ~ . ... - ... 115 -115 116%-116¾ .... - .. .....• - . .. .
- .... .. . . - .. . . ... . - ... . .... - .... • •·· - •· .. • •·· - .. • • • .. - ···
Memp. Div., lst,g,,4 .... - . ....... - . ... . .. - . .. . ... - ........ - .... 101¾ 102¾ 101½-102 .... - .... 101 -101 100 -100 100½-100½ 98 - 9~
Dub. &S.C.-2dDiv.,. 110½-112 112 -112 111 -111 .. .. - ......•. - ... . 112 -112 .. .. - ........ - .. .. . ... - .. . .... · · .... - ........ - ···
Cednr F . & M.,lat ... 1 ... . - .... 78 - 78 65 - 65 68 - 70 71½- 73.l{ 77 - 77
74 - 74 ... . - .... 75 - 75
76½- 76½ 78 - 78 .... - ...
Ind. Dec. & Spring.1•t, ex funded coup .. ,- 100 -108 105 -105 102¾-104 .... - .... 102½-104 100 -104¾ 95 - 97½ 96 - 98 97!,i-101 101 -102 101 -101¼ ... . - ..•
Do. trust receipts . . . .. . - . . . . . . . . - . . . .. . . - . . . . . . . . - . . . . . . . . - . .. . .. - . .. . . . . . - . . . .. .. - . .. . . . . . - . . . . . . . . - . . . . 98 - 98 99 -100
Infl..Dec.&W.-G.'47.:J 85 - 85 85 - 90 .... - .... 72 - 72 .... - ... . .... - . ....... - . .... . .. - ... . .... - .... 89 - 89 •••• - ........ - ..•
2d Inc., g,, 1948 . .... . 5 .... - .. ..... . - ........ - ... . .... - ........ - . ... . . . - .. . . 32½- 40 .... - .. ... ... - . . .. 30 - 30 ...• - ........ - .. .
Intern. & Gt. No.-ht.6 109 -109½ 102 -108 102¼-103¾ 100½-10::S" 108~r104½ 10! -104½ 1102 -104 102¼;-106 104¾-107 103 -104% 104 -106¼ 103~100
Coupon, 1909 .. .... .... ff 71 - 74½ U! - 73¾ 63¾- 67 63¼ 67 62 - 64 68¾· 05 I 02½- 65½ 63 - 70¼ 60 - 66
66 - 69½ 69 - 70
68!'{- 73
Do. trust receipts .. .... - ... . .... - ........ - .. .. .. - ... . .... - ...... . . - ..
65 - 65
65 - 70
65½- 70¾ 67 - 60½ 69 - 70)4 69 - 74
Jo,-vo. Cent.-ht, gold .. ~ 79 - 80¾ 80!1,(- 86½ 86 - 00 86 - 88 87%- 00½ 85 - 69 82¾- 85¾ 85 - 88 86½- 87½ 85 - 88¼ 88 - 90
85 - 8G
K.C.Wy.&N.W.-lst.:i .. .. - . ..
- ........ - ... . 93½- 94½ 1 94¼-100
... . .. - ........ - ........ - .... ··•• - ···· .... - ··· · .... - ···
Kentucky C., 1987 ..... 4 71½- 79!J:1 79 - 80 78½- 80% 78¾- SO 79¾- 84% &½- 90 87 - 88½ 85 - 87½ 86½- 87 82 - 86 85½- 86½ 85 - 8G
Kings Co. El.-lst, A.;i .. .. - ........ - ........ - ........ - ...... .. - ... . 106)4-106¾ 104 -104½ 104 -104½ 104 -104% 103¾-104 104½-105 105 -107
I .
t:~~'i::; ~-~::~~t~ io1
-108 .. 107~=1io" ios;J4=1lll½ ii()¾=1ii" ii17i=1is·. ii2½=l.:3¼ iio½=ll2¾ ii2¾=l18~1iis!!.(=li6 . . ii~114~ 1~ =1~:
uS: =~!
Lake Shore & M. So.Cl. Pains. & Ash ... .. .7112½-112½118½-118½ .... - .... 109 -109 .... - ..... ... - ....... - ........ - .... ;.... - ........ - •··· . . . . . . . . . . . . - •· ·
Buff. & Erle-New .... ,- 122¾-125 124½-12!l¾ .•. . - ....... - .... 120 -120 .•.• - .... 122 -122 .... - ....... - .... 119 -120 11~-119U 120 -120
Ko.I. & W. P .-ht .... 1 102½-103 . . . . - .. . . . . . . - .... 103 -103¼ . .. . - .... 104½-104¼ 101¾-101¾ 102 -102 101¾-101¾ . • .. - • . . . • • •. - •.. . 1037i-103~
Det. Mon. & Toi ..... . 1 .... - .... 182 -132 182!,i-!32¼ .... - .... 134 -134 ... - ........ - .... .. . . - ........ .. 130 -130 . ... - •.. 130 -ISO
L. Shore-Dlvldend .. 1 . ...
. .. .... - ........ - .... 122 -122 123¼-125 125 -125 125 -125 .. .. - ....... . - .... 119¾-119~ 122 -122 124%-~
1
ht con., coup .... .... "t' 125¼-127% 127¾-129 128 - 128% 128 -129 128½-180 180 -180 126½-126½ 126½-127 126!1.(-126¾1•· ·· - ... 128 -128 1~127~
J.at con., reg ....... . .. , 12tl -127¾ 127!1,4-127¾ 128 -128 126¼-1267.! 127 -127½ 125½-125½ 125¾-126½ .... - ... 125¼; -125¼ 125¼-12fi 126¾-126 .... - .. .
2d con., coup ......... , 124 -125½ 126½-127½ 127l,l!-127'7Ai 126½-128 128 -130¼ 126 -127 125 -126 126½-126½ 127 -127 1126!1(-128 128 ·128 124¼-l.26~
~d con., reir .... ..... . , 12-1 -121S 126 -126 126¾-127 126~-127 :i.25¾-128¼ 127 -127 125 -126 125¼-126¼ 127 -127¼ 125 -12ey( 123"-127 122 - 1 ~
1tlahonln1r Coal RR . . IS 107 -108½ 108¾- 109 111 -111 109 -109 . ... - .... 112 -112
. .. • . • . - ........ - ........ - ........ - .... lOS. -111
Lltch. C.& W.-l•t, ar.6 .... - .... 98 - 98 100 -100 98 -100¼ lCQ¾--100~ lOQ¾--100~
- ........ - ........ - ........ - .... ~ - ~ ••• ~ - .. .
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1
RAILROAD
BON DS.
1889-Cont inued
,J
J_ A_N_U_A_R_Y _F_EB_R_'R_Y_. ~-R_o_H_. _A_P_n_IL_.___M_A_Y_._ , __J_u_N_E_._,_J_u_L_Y_._ AUGUST. SEPT'BER. O0T0BER. N0V'BER.
BONDS,
DllO'B l!!R
- -· - - - - - - - - ~ow.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High
Lonar I■ land - lst, '98 .1
1st. CODIIOI, 1931 ... ... ~
Gen. mort., 1938.. .. 4
N. Y. & R. B . ......... ~
2d, income... ... . . . . .. .
N .Y.B.&M,B., lat .. ~
N. Y. &Mau . B ., lst.7
Brook.&M. ,1st,'11 .. ~
Louis. &Nas h v,-Con.7
Cecilian Branch ... . .. ?
N. O. & Mob-lst ..... 6
... - ... .. . - .... 122¼-128 123 -128 .... - .... 121¼-122 119½-119¼ 122 -122 123¼-123¼ 120 -122 120 -120¼ .. . . - ... .
lH¼-114¾ 115¼-115½ 116 -116% ... . - .... 115¾-117¼ 115¼-117¼ 115 -116¼ 116¼-116¼ 117¾-117¼ 116¾-116% ... - .... 97¼- 98
{12¼- !l7
97 -100
99 -100
99¾-101 100¼-102¾ l00¼-101½ 100¼-101 100¾--100¾ 98¼- 99
98 -100¼ 99 -100 .... - ....
103¼-103½ .... - .... 108 -103 102 -102 . .. . - ........ - ...... - ........ - ....... . - ........ - ........ _ ........ _ •••.
.. . . - .. .. .. .. - . .. . .. .. - . .. . 35 - 85 .. .. - .. . .. .. - .. .. .. .. - . . .. .. .. - • .. . . . .. - .. .. .. .. - . . . . 27 - 28 . . • • _ . . ..
... - .... 10!¼-102½ .... - ........ - ........ - . . . . . . - ........ - ........ - ........ - .... 103 -103 .... - ........ :. . . ..
... - ........ - ... . 112 -112 .... - .... . ... - .... 112¼-112½ .... - ........ - ....... - ........ _ ........ _ ........ _ .. ..
... - ........ - ........ - ........ - ........ - ....... - ................ - ........ - ....... - .... 1107,(-110¼ .... _ .. ..
118¾-120 120}4-120¼ 1203,4-121½ 117½-119 119 -120½ 120 -120 120½-121¼ 120 -120¼ 119¼-120¾ 116¼-117¼ 117 -117¼ 117¼-118½
.... - ........ - .... 107¾-lO'i¼ 112 -112 112½-113 113 -118 111¼-113 .... - .... 104 -105 .... - .... 106 -106 106 -1(}7
111¾-114 113!,4-113¼ 114~e-115 116¼-116½ 117¼-!l'i~! 118 -120 117 -118 .... - ........ - .... 115 -117¼ 117¼-118 117 -118
2d .... .... . ...... . ... .. .. 6 .... - .. .. 100 -mo 100 -105 104½-106½ 107 -107¼ 101 -107 .... - .... 105 -105 105½-107 109 -110 .... - .... 107¼-11o
E. H. & Nn.sh.-lst ... 6 116 -116 117 -!17 .... - ... . 117 -117 117¾--118¾: 114!):!-115 115¼-115¼ 116 -116 117 -117 115 -115 .... - .... 113¼-113¼
General mort . .. .... ... 6 112 -112¾ 112¼-113¼ 113¾-114 113½-llB¾ 11e -118¼ 114¾-115¼ 114 -115 114 -114 114 -114¾ 114¼-115 115¼-116½ 112 -113
Pensacola Div . ....... ti .... - ...... - ....... - ...... - ....... - ........ - . ... 110 -110 .... - .... 110 -110 ..•• - ........ - •... :1_09½-109!!(
St. L oui s D iv., 2d .... 3 .... - ........ - .... 62 - 132 .... - ... ..... - .... . ... - ........ - ........ - ........ - .. .. 66 - 66 .... - ........ _ .. ..
Nash . & D ecatur...... ? 119¾-121
... - .... 120 -121% 121¾-121~ 123 -128 125 -125 .... - ........ - .... 122¼-122½ .... - ........ - .. 123 -123
Trus t bonds, 1 9 ~2 -- .6 109~-112 111¼-112¼ 11174-118 113!,4-114 114 -115¾ 114 -114 112¼-lH 111¾--112¼ 1107,(-112 109¼-111 llC' -110% 109½-110
Ten-Fortv, 1924 .. ... 6 101¾-101½, .... - ........ - .... 105¼-106 t05 -105 .... - ........ - . . ...... - ........ - . . .. .. • _ .. . ... _ . . ...... _ .. ..
Pensn.c. & A tl.-lst .. 6 9S¼- 98¾ 96 - 99
118 - 98¾ 98 -105 t04%-106¼ 104 -104½ 104 -106 102 -102 101 -107 106½-107 106¾--106¾ 106:Ji-109
.l0-yr. g old, 193 7 ....
98 -100¾ 100¾-101¼ 100.½-102½ 101¼-105½ 102h-104 104 -104~i105 -105¼ 104¼-104¼ 105½-107 105 -107 103¼-105 104 -106
)Col. tru !' t, ir,. 1931 ... ~ 96¼- 96¾ 96¾- 97¾ 97¾- 98¾ 98½-103¼ 100 -101¼ 101 -108 102 -102¼ 102¼-102¾ 102 -10! 103¼-105¼ 103 -105 101 -104¾
Nash.F l.&S . ,1st,llD . .i . . . - ....... - . ....... - . . . .... - .... OS¼- 98¾ 98½-100 99¼-100 I 97%- 98
97¾- 98)4 08.)4-100¼ 100½-102 102 -1027,(
Lon. N, Alb. & C.- lst.6 112¼-1143,i; 118 -117 116¾-117 118,:!-121 12() -12lJ.9120 -122 117¼-118½ 117 -118 117 -110 117 -118 117¼-119 115 -119
Con., g old, 1916 ... ... 6 93 - 94½ 94 -102 100 -102½ 97¾-102 102 -108 102¾-104 102½-103¾ 1102½-104 103½-106 101 -103 101 -103 100 -108¼
Lou. So.- l s t, ar, ,' 11. 6 .... - .. . ..... - ........ - . . ...... - ........ - ........ - ........ - .... 95 - 99¾ 06 - 98¾ 97 - 98¾ 98¼-102 100 -103
Louis. N. O. & T.- lst .4 87 - 87¼ 87),(- 87¼ 85¼- 85!):! 85!):!- 86¼ 86¼- 86¾ 86¼- 88¾ 88¾-- 90% 90,i- 91
89 - 90¼ 90¼- 90¼ 90 - 90¾ 90 - 90
2d mort . . 1934 ..... . .. I) 40 - 4.0 .... - . ... .. .. - ........ - .. .. 45 - 45 .... - ........ - .. .. . .. - ........ - ........ - ........ _ ........ _ .. ..
L .St.L.&T.-lst,g,'1?'.6 .... - ........ - ........ - ........ - ........ - ....... - ........ - .... 06¼- 98½ 98¼-100
99 -100
99¼-100¼ 99:h;-101
lUem. & Chas.- Gold .. . 6 102¼-102¾ 102¾-108¾ 108 -104½ 104¼-107 106}('-108¾ 108 -109¾ 107 -107½ 106½-106¼ 105!):!-106 105¾;-106¼ 105¾-105¼ 104½-106¼
Metropolitan El.- 1 s t .. 6 111%-1141116½-ll'i!I,! 116¼-ll'i½ 115 -117 117 -117¾ 117¼-120 115 -115½ 114¾-115¼ 114¼-116¼ 116 -117 115¾-116¼ 115¼-116
2d, 1899 ... . ........ .. 6 106 -109 108 -110 107¾-109 108½-110¼ 107 -111½ 108)4-109½ 107 -107½ 106¾-108 108 -108¾ 108 -109 105 -106 105¼-106
Mex.Cen.-Newassen.4 68¾- 70
70 - 70½ 71 - 'il
... - .. ..
.. .. - ........ - ........ - ........ - .... ..
- ........ - . . ...... _ .. ..
Income, 1911 .. ...... . 3 21¼- 21¼ .... - .. . ..... - ........ - ....
30 - 30 .... - ........ - ........ - ........ - ....... - ....... . - ... .
M.ex. Nat,- 1 @:t, 19~?-.. 6 99 -JOO 102 -102¼ 102 -102 .... - .... .. - ... . ... - .... .... - .. ... ... - ........ - .... 101¼-101¾ .... - ........ - ••••
2d income "A" .. .... .. 6 62½- 66¼ 64¼- 66~ 61½- 62½ 60½- 62
62 - 63¾ 63 - 68 .... - ........ - ....... . - ........ - ........ - ........ _ ••••
2dinc ome"B" . .. ..... 6 18 -18 .... - .... 18½-18½ 18 -18 18 -18¾ 19¼-19¼ .... - ........ - .. ..... . - ........ - ........ - ....... . _ •• ••
Mich. Cent- lst,consol., 131¼-138 132 -132¼ 182 -188½ 132 -138½ 180,J!-181¼ 181¼-132 130 -131 129¼-131 130 -130¼ 129 -130 126½-127 126 -126¼
1st, consol .... . .. .. . .... ~ 111 -111 111½-112¼ . ••• - .... 112¾-112¾ 114 -114 .... - ........ - .... 114 -114 .... - . ... 110¼-112 110 -110 .... - .••
Coupon, 1931 . .. .... . .. ;l lll½-111¼ .... - •.• . 112 -113 113 -113 .... - .... 115 -116 115½-115½ .... - ... 112 -112 112 -112 •. . . - ........ - ... .
Rclli &tered, 1931 . . . .. 1) 111¼-118 .... - .•.. 112 -112
.. - •. 116 -116 .... - .... . ... - ........ - ........ - ........ - ....... . - .... 110!):!-112
Jo.ck. L.& Sn.g.1891.6 105 -105 .... - ........ - ........ - ........ - .... .. - ... 106¼-106¼ 106¼-106¼ 102½-103¼ .... - ........ - ....... - ... .
Mil. L . Sh. & W.- ht .. 6 118¾-110¾ 119¼-121¼ 121½-121¾ 120 -123½ 120¼-123!):! 123 -125¼ 124 -125 123¾-125 124½-128 127 -127¾ 122¼-1~ 121 -124
Conv. deb, 1907' ...... l) 92¼- 95½ 93½- 99¾ 99 -101¾ 99 -103½ 101%-104 103 -104 10! -10:i¼ 103 -103 102%-102¾ 104,4-105 104¼-105 102¼-103,,(
Ext. & Imp., s, t.. . .. 5 ....
. ....... - ........ - .... 103¼-103½ 108¼-104¼ l03 -104.½ 103%-105)4102 -103 102¾-10,i 104¼-105¾ 104%-105¼ 103 -103¼
Income . .. .. ._...... .... . . 6 .... - . .. . 99 -103 100¼-104 101¼-lOtl¼ 100 -ll8 106¼-106:¼ 105 -105 106¼;-106¼ .... - .. .. .. . - ........ - .... 108 -108
Itlicbi ~n.n Div., 1 s t ... 6 .. 115 -115 115 -116 116 -!16 116 -117 .... - .... 114 -Hi .... - ........ - .... 115 -117 117 -119 117¾ 119
Ashland Div., lst .... 6 114 -115½ 116 -lHI 116 -116 .... - ... . 116¼-118 .... - .... 118 -118 .... - .... 116 -116 116¼-117 116¼-118¼ 119¼-120
Mil. & No.- lst, 1910 .6 106.½-109¼ 108½-109¼ 109¼-110½ 110½-lll 110¾-111 107¾--108 109 -109¼ .... - .... lQB¾-110 109 -110 109 -110 107 -110"'
1st, on exten., 1913 .. 6 105)4-106.½ 10671i-l08 108 -109½ lOS -109 108¾-109 1057-{-lOi¼ 106 -107 106.)4-106¼ 106 -106!):! lQ0¾-106!)4 107 -1089,i 106 -108~
Mlnneap.& St.L.-lst. ? 90 - 90
90 - 92
92 - 92 .... - ... . .... - ... . 92 - 92
95 - 97 .... - . ... 96¼-101
..• - .... .... - .... 102 -105
Iowa Extension ...... , SCI - 80
81 - 81
81 - 82
81¼- 81½ 81 - 81
85 - 85 .. . - .. . .. • - . . . . . . .. - . . . . 85 - 85
85 - 85 . . . . - •• ••
2d mort ., 1891. . . ..... ? ... - ........ - .. .. 50 - 50
... - .. .. 42 -: 42
43 - 52¼ 50½- 50½ .... - ........ - .... 50 - 50 .... - .. .. 60 - 60
Southw'st. E xt.- 1 st.7
- ........ - ...... .. - . ... .... - ........ - ........ - .... .. - .... ... - ........ - .... 77¼- 77¼ 70 - 70
75 - 75
Imp. & eq ui p., 1922.6 ... - .... 55½- 55¼ .... - ........ - ....... - .... 52 - 52 53¼- 53¾ .... - ........ - ........ - .... 57 - 57
60 - 62
Minn. S . S .M .&At. 1st.l) ... - .... 90¼- 91½ .... - ....... . . . - .... .. - ........ - ........ - ........ - ........ - ........ - ........ - ..•.
Mo. Pn.c.- l s t consol ... 6 U0¼-113 112½-114 113!):!-114½ 115 -115¼ 111%-118 112 -112¼ 112¾-114 ... . - .... 113 -114 113½-113½ 107 -109 109 -109¼
3d, 1906 ........ . . . ..... ? 116¼-118% 118¾-119¾ 118¾-120 121¼-121¼ 118 -!18½ 120 -120 .... - .. ...... - ... 121 -121¼ 110¼-119½ 112 -114 113 -1143'
Tru s t g old, 1 9 17 ..... 5 ... - .... 93¼- 94
98¼- 94¾ 94%- 94¾ 9J%- 94.!J:f 98½- 99¾ 90¼- 99% 99¾-100 .... - ........ - .. .. .. . - .... 9~!- 99
Pn.c. ot lllo.-lst, ext.. Ui¾-101
98½- 99
98½- 99
98¾-101 101 -102 102 -102;1:1102 -102½ 99 -100
09 - 99¼ O~i- 99¼ 98¼- 98¾ 98¼- 98!):!
2d, 1891 ...... ........ 1 ,104 -105 104¼-105 105 -105 i05 -105½ ... . - ...... . . - .... 103¾-103¾ ... . - ........ - .... 103 -103 '10! -104 104 -104
Mo. K.&T. - Gen. con.6 54½- 62
54½- 59
54 - 56¼ 53 - 57¼ 57 - 58¼ 577,,1\- 64¾ 61 - 63¾ 62¾- 65
63 - 65% 63 - 68
65¼- 70¾ GS,r 76
Gen.consol, 192 0 . .. .:, 51¼- 57¼ 52 - 54~ 51 - 53½ 50½- 58
58¼- 55¾ 58¼- 60½ 56½- 58½ 57¼- 59¾ 57 - 59¼ 57¾-- 60
57½- 62
61 - 65¼
Consol., 1904 •5-6 . ... 7 90 - 92¼ 90 - 92½ 87¼- 91 87½- 90
90¼- 04¾ 92¼- 97
95¼- 97
94¾- 96
94 - 96
93¼- 99¾ 99 -107 106 -111
Han.&Cent.Mo., 1 s t,7 . ... .. .. - ........ - .. .. . .. - . .. . . .. - .... 100 -100 .... - ........ - ........ - .... 100 -100
.. . - ........ - ... .
Tebo & Neosho, l st.1 .... - ........ - ........ - ........ - ........ - ........ - ........ - ........ - ........ - ........ - ........ - .... 100¼-100¾
Mobile & Ohio-New .. 6 ... - .... 112¼-118¾ 113 -113 118½-114½ 116½-116¼ 114½-114¼ 114 -116 .... - .... 116 -116 118¼-120 118¼-118¼ 115 -115
1st, exten., 1927' ...... 6 ... - ........ - .... 108 -108 106 -106 106 -106 lOi¾-107~4 .... - ........ - ........ - .... 107 -107 .... - ........ - ..•.
Gen. Itl., 1938 .. .. ..... 4 411M- 43 44 - 50% 46 - 49 49 - 52¼ 61 - 52% 52¼- 58 63 - 57½ 55¾- 58
54 - 58¼ 58 - 60
67½- 59
56 - 5~
_.1st pret. deben t ... .......... - ........ - ... .... - ....... - ........ - ........ - . ... 61¼- 61¼
- .. .. .. - ........ - . .. 64 - 64 .... - . .. .
et.L.&Cairo-Gu a r .4
- .... ....
.. .. 7~ - 72
- .... 72 - 73½ 80 - 80
75 - 75
'75¾- 79
77 - 78
78 - 78
77 - 77
77 - 77
Morirn.n'sL.&T.- l s t .. ti 116 -116 115 -115 115½-115¼ .... - ....... - .... 116 -llB¼ ... - .... ....
. ....... - ........ .... .. - .... 115 -115
1st, 1918 ... .. ... ....... 1 .... - ....... - ... . 124 -126 122½-128
.. - ... . 126 -126 12! -127 127 -127 .... - .... 123 -125 124 -124 125 -125¼
.Mutual Un. T.·-S. F .. 6 99 -102 102¼-102¾ 101¼-102¼ 102 -104¼ 101½-103 102¾-103 100¾--100% 101 -102¼ 101¾-102¾ 103 -103½ 100 -101¾ 100¼-102
Nashv.C.& St.L.- tst. ,- 129 -130¼ 181 -131¼ 188 -138¾ 183)4 -134 134 -185 138 -138½ 135 -135 133 -135 138¼-134 133¼-134 134 -134¼ 134¼-135
!ld, 1901 ... . ... .. ... . . .. 6 107¼-110
... - .... 112 -112 112 -112 .. .. - ........ - ........ - ........ - ........ - ........ - ........ - ........ - •.•.
Con ■ol. ir., 19!18 .. . ... 5 98%-101!):! 101½-108 104¾-105¼ 103¾-104¾ 105 -106 105¾-107½ 107 -107 106¼-107¼ 106¼-107 104¼-105 106 -107 1~-107¼
Tenn. & P. Div., l st.6 .. .. - . .·.. . .. . - .... 120¼-120¼ . .. . - .... , .. . - .. .. .. .. - .. •. .. .. - .. .. .. .. .... •.. .. . - .. • • - ...... • • - .. • . .. . - ... .
New J. Soutb.-Guar .. 6 .... - . .. . 105 -105 .... - ........ - ........ - ........ - ........ - ....... . - ....
- . .. ..... - ....... . - ........ - .. ..
N.Y. Central-Ext . ..... 5 104¾-106 106½-107 100½-107 lO(l:}s-107 104 -106 105 - 106 104¼-105¾ 105 -105 104¾-105¾ 104¾-106 103,,(-103'4103 -103¼
5.Y. C.& H.- lst,cp .. ? 188 -135¼ 13;5¾-185¾ 185½-186¼ 18B -136 185½-186½ 187½-187¾ 133 -185 134 -135¼ 133 -134 132¾--135~ 133 -134 188"'-1333'
1st, -rear . . .... .. .. .... . . ?' 188}(- 185 185½-135¼ 135¼-135½ 185 -18:S¼ 135¼-186½ .... - . .. 132½-133¼ 133¼-133¼ 132¼-132¼ 138 -138 133 -133¾ 129 -188~
Deb., 1884-190'1 ... 5 111 -111¾ 112 -118¾ 111¼-112¾ 111%-112 113 -114 115 -115¾ 115 -115 114 - 115 111¾-112 lll½-111¼ 110!):!-111½ 110¼-111
Redstered ...... .. . () .... - ........ - .... 112¼-112¼ . ... - . .. 118 -118 . . . - ... . 112 -112 lH -114 .... - .. .. .. . - .... 111 -111 .... - ..•.
Deb. reir., '89-1904 .. 5 .... - ........ - .. .. . .. - ... . 112 -112 112¼-113 . .. - ........ - . .. . . .. - ....... . - .... 112 -112 .... - ....... - ... .
Harlem-1st, coup .... 7 ... . - .. .. .. - . .. . 134 -184 .... - .. . 131½-131¾
- .... 130½-130¼
- ........ - .... 120 -129¼ 126¼-127 127¼-127¼
1st, reir .. . .. .......... 1 130 -181¼ .... - .... 188¼-188½ .... - .... 129 -131 131 -181 129¼-131 .. . - .... 129 -129¼ 125¼-130 125½-127 126~-1~
N. J. June., 1st. gu .4 104 -104 108¼-103¼ 101 -101 105 -105 105 -105 105¼-105½ .... - .•.. 104¼-104¼ .... - .... 104¼-104½ .... - ....... - ....
West Shore, iruar . . ,i 102¾-106 105¼,-106¾ 105¾·106¾ 106 -107¼ 107¼-108½ 108 - 109¾ 106)4-107 1057,(-107 105¾-106¾ 105¾--106)4105 -106¼ 105¼--107
Rearlatered .. .......... 4 102¼-105¾ 106 -106¾105~ ·106~ 105¼-107 107 -108¼ 106 -109.½ 106¼-107¼ 105)4-106% 105¼-106.½ 105 -106¾ 104%-10~ 103¾-1063'
N.Y.Chlc.&St.L.-ht .4 91¾- 94~ 94 - 95¼ 94¾- 95¼ ~2¾- 95¾ 95 - 97
06¾- 98¼ 95 - 97¾ 94 - 96¼ 95%- 97
92¾- 95
92¾- 94¼ 94 - 94~
Red ■tered . . . . ........ 4 .... - ...... . . - ........ - ..... ... - ........ - ...... - ........ - ....... - .... 94
94¾ .... - .... 91¾- 94 .... - .. ..
N. Y. Elevated-1st ..... ? 116 -U7!):! 117 -118½ 116%-117¾ 117 -118¾ 118!,4-121 120 -121 116¼-118 116 -116¾ 116¼-116¼ 116 -117 116)4-117¼ 117 -118
N. Y.&N.E.-lst,190~.ti .... - .... ... - ........ - ........ - ........ - ........ - ........ - .. . ... - ... . 118.½-118¼ ... - .... ll'n-(-117~ .... - ... .
N. Y .N.H.&H.-lst,rir.4 111 -111½ lJ.l¾-112 ... . - ........ - ........ - .... 110 -110¾ .... - .. . 110¾-110¾ 110!,4-110¼ .... - ........ - . . . . .. . - .. ..
N.Y. & North.- l s t, ,r. ~ 108 -108¼ .••. - ........ - .... 107 -108 .... - •. •.... - ........ - .... 110½-110¼ . ... - .... 109 - 109 111 -111 111 -111
2d, 1rold, 192?' ... .. ... . 4 . .. . - . . . . 50 - 52
51 - 68¼ 51¼- 58¼ 54 - 58
t 7 - 59 55 - 55
63 - 5:i
52 - 52¼ 53 - 66 1
53¼- 533'
N. Y.On.&W.- l s t, g .. 6 112 _-11.4_½_.1.1_1.4__-11_5_ .. 11_1._o_¼_-11.2__ . 110¼-112 111½_·11·2·¼·. 1.1..2¾.=11·3·¾·· 1_1,.3. -113¼ 118½-113¼ 111¼-111½ lll¼-111% 111¼-112 112 -112,,(
Consol. 1st, 1939 ... .l
~
- ........ - ....... . - ........ ~ .. .. • ... - • .. -198 - 99¾
a
N.Y.Su■q.&W.-
,
1st refund, 193? . . ... 5
!ldmort., 1931' . ... 4¼
Mldl'd of N~ J., lst . .. 6
ff• y. & Tex. Ld. 11crlu
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
94 - 00¾ 96 - 97% 9i¼- 99
08¼- 99¼ 99 -101),( lCl -103¼ 100 -101¼ 100¾--lUl¾ 101 -101¼ 101 -101¾ 101 -102¼·100 -102
'ii½- 77¼ 77;;{- 77¾ 77 - 78:iti 7'i¾- 78}4 78¼- 81¼ 80¼- 88~ 88 - 88¾ 81¼- 82
81½- 81¼ 80¼- 81¼ .... -
····1·--· - ....
1143-9-116¼ 115½-116¾ 117 -117!J.< 114¼-115¼?15¾-115¾ 117)4-ll'i¾ 118 -119¼ .... - . ... 118¼-119¼ 115 -116 115 -116¾ 115½-115¼
. . .. - ........ - ........ - ........ - ....... - ...... ~ - .... 47½- 47¼ 48 - 48 .••• - •••~ ••• - •••••••• - •••••.•• - ... .
RAILROAD
BO.NDS.
1889 - Contlnued.
NU.A R Y FEBR'RY.
MARCH .
APRIL.
MAY.
J UNE .
J ULY.
AUGU ST . S EPT ' B J:R. O CTOBER. NOV'DER.
'BER .
- - - - - - - - - - - - - - - - - · ---- - - - - - - - ·- - - - - - - -DlllC
------·-- -N orJolk & West.Gener a l ...... .. ..... ... . ti 117¼-118)4 118¾·119 119¼-120 121¾-121¾ 119½-120 120 - 120¼ 120¼-120¾ 120 -120 120½-120½ .... - . ... .... - . .. . .... - . ...
New River- 1st ... .... 6 112½-112½ .... - .. .. ... .
.. ll-1 -114½ 115 -110½ 115¾-116 116¾-117 116 -116¼ . ... - .... .... - .... 112 -lU½ . ... - . ...
Imp. & ext., 1934 .... 6 .... - ... .... - .. .. 108 -108
.. - ... . ... - .. .. .... - .... .... - .... .. .. - . ... ... - .... .... - .. .. .... - .... .... - ....
Adj. mort., 1924 ... . . 7 110¼-110¼ ..... - . .. 111 -111 ... . - ... . ... - ... ... . - .... .... - . ... .., - ... . .... - . ... . ... - .... .. .. - .... .... - .. ..
Equipme nt, lt)08 . ... I) • .. - . ... .... - . .. .... - . ... .... - . ... .... - .. .. .... - .... .... - .... .... - .. . 97½- 97% . ... - . ... .... - ... . .... - . ...
Clinch Vo.I., 1st& eq.l> .... - . .. . 92¼- 92~ .... - .... 93 - 93
98¼- 91)¼ 95 - 97½ 95¼- 97
98 - 08¾
06½- 99¼ 97 - 99¾ 98 - 98¾ 97 - 99
BOND S .
Low . Hll{b Low .High Low.High Low.Iligb Low . High Low .Hl~h L ow .High Low .High Low .High Low . High L ow .High L ow .High
,
N orthel'n PacificGen. 1 st, land a-ra nt .. 6 l-15¼-116% 116¾-117~ 117¾-118½ 118 -120 119¾-1201,s 119¼-120¾ 116¾-117½ 115¾-117¾ 114%-116 114 -115 113¾-116¾ 115%-117!1;
Gen.1 Bt, I. gr., r e a-.. . 6 115¼-116¾ 110%-118 117 -118 118¼-120 119 -120 119¾-119¾ 116¼-116¼ 116¼-116¾ 113¾-115 113¼-l H¼ 113¾-1167,( 112¾ 115~2
Gen., I. a-r., 2 d, 1 933 6 112 - 114½ 113¼-116 115 -116¼ 114 -115 114 -115¾ 1141.(-115¼ 114?.(-115¾ 115 -117 113½-ll5¼ 109¾-111 100¾-112¾ lll½-112½
,~e n., gold, 3d, 1937.6 97¾-102¼ 102¼-100 t04½-105% !<·5¾-108½ 108 -110 t04¾-106¼ 105 -106¼ 105¼-107¼ 107¾·110 107 -110 108 -111 108½-110¾
Divi dend sc1·h> . . . . . .. . .. ....
.... - . ...
·•· · 100 -100 .. .. - .... 108 -103 105½-105¾ 105¼-105¼ .. .. - .... 103 -103 103 -103 ... - . ... ... . St. Paul & No. Pac .. . ti 12 l - 122½ 119½-119~ 118 -120 120¾-121 119¾-120¾ ... . - . ... 122 -122 119%-120¼ 120 -120½ 120 -121 119½-121 120 -121
Jo.m es R. Va.1.- l s t .. 6 104 -107 .... - .. .. 107 -107 .... - .... ....
.
....
...
.
...
....
... . ....
- ....
- . .. . . ... - ....
- .... ... . . .... - .... .... - . ... .... - . ... .... .... .... - .... .. .. - . .. ... - . .. . .... =
H e l.&Re d ll'.lt,, lst . . 6 .... -102 101 -102 100 - 102
S pokane & Pal. 8 , :f. .6 108½-103½ 103½-105 t05 -105 107¾- 107¾ 106 -108¾ .... - .. ... . - ... . . ... - . ... 108 -108¾ .. . . - . ... .... - .... 103¾·104.-%
Dul, & lUan., 1st ..... 6 !00¼-103½ 104¾ 1Cl6¼ 108 -108¼ 108½-109¾ 110 -112 ll2¼-112½ 110 -110¾ 109¾-112 109 -109 106½-107 108 -113 110 -110½
Do. Da.k. Div., l s t .6 99%-103 102¾-104½ 105 -108 .... - .... 10£1½-lll W3¼-106¾ 110%-110¼ .... - . ... .... - .. .. 106¼-107¾ 107 -107 105%-105¾
No. Pa.c.Te 1·. Co.,l s t .6 103¾-100 105%-107¾ 106%-107 105¾-108 107¾ 110 109 -112 110 -111 109 -110½ 110¼-111 109 -109 106¼-109 109 -109
... . .... Coeur de' Al., Gn.lst.6 .... - ..... .... - .. .. ...
.. .. - . ... 107½-107¾ . .. - ... 107 -109¼ . ... - . ... 107 -107 105 -107 .... - ....
102¾-1C6 101¾- 102½ hJ2 -104¼ 103%-105¾ 105%-108½ 107 -108 107½-108 102 -105 101 - 103¼ 101¼-104 103½-105
N. P. & ll'Ion ., 1 s t, g .. 6
Ce nt. Wn.s h., 1st, g ... ti .... .... .... - .... 103¼-10331! 103½-105 .... - ... .... - .... ... . - .... .... ....
- . .. . .... - ... .... - . ...
.. . - . ...
0 g . & L. C.- lst,con ... 6 .. .. - .... .. . . - .... .... - .... 98).t;- 98¾ .... ·· •· .. .. - . ... .... - .... . ... .... . .. - . .. . . .. . .... . .. - ... . 80
- 83½
0 hio I n d. & W.- lst. ./i 64½- 73
70¼- 72
61 - 70
70½- 7-1½ 70¼- 72
80 - 85½
69¾- 80¼ 79 - 83½ 79¼- 83
72½- 74¼' 62 - 74
.... .... - .... 80 - 39 40 - 43 85 - 46 29 - 39 40 - 50 45 - 50½ 4.8 - 50 49 - 57 51 - 54¾
2d mo1•t ,, 1938 ... . . . . . 1) • · - ... . ....
Ind • .B. & W., lst,pf.7 115 -115 115 -115 11G%-117 .... - .. . 120 -120 .. .. - .... ··• · - .... ... .
.... .... - .... ... . - . ... 120 -120 .. .. - . ...
Income trust rec . . .. . ... . - .... ... - .. ... . - ... .... - .. .... - .... ....
. ... 15 - 16 16¾- 17½ 16 - 16 .... - .... .... - . .. . ... . - .. ..
0 h. & lll.- Cons. s. f .. . . 7 1151..(-116 116 -116 116¾-115¾ 117¼-117½ 118 - 1111 120 -120¾ 117¼-117¾ .... - .. ... 117¾-117¾ 117)4-118 116¾-117¼ 117 -117¼
) Consol.., 189S .. .. . . . .. . 7 115 -115½ 116 -116 116 -117½ 117¼-118 118 -119 120¼-121 117¾-117¾ 116½-118 117¾-1177/4 117¾-118 116¾-117 117 -117¼
:ld, con s ol., 1911. . .. . ,- 119 -120 110¾-l !I)¾ 110 -120¼' 118¼- 118½ 120¼-124 124¾-126 125 -125 .. .. - . .. .
- .... 122 -122 •· ·· - . ... 122¾-122¾
1st, Sp1•ina-t. Div .. . ... 7 105¼-106¼ 106½-106½ .. .. .... - .... 111½-lll½ 112 -112 ... . - . ... 110¼-110½ 112 -112 112 -112 112 -112 lll¾-112
.... - ....
Gen. mo1•t,, 1932.
~ .... - .. .... - .... 92 - 92
.. .. - .... .... - ... 95¼- 95½ 95¾- 05% .... - ... . .... - ... .... - .. .. .... - .... 100
0 hio River RR.- l•t . . /i 102 - 102 .... - ... . .... - .... .. .. - . ... 102 -102 102 -102 100 -100 .... - .. . .... - . ... 100 -100
... - . ... .... --100....
Gene1·nl, 1937 .. .. ... . l) 85 - 80
.. .. .... - .. .. 80 - 80 ... . ... . ... . - .. .. .... .. .. .... - .... . ... - ... .... . ... ... ... .
0 hio 8outhern- 1st . . . .. 6 108 -104¾ 104¼-107 106½-107¼ 107¼-107¾ 110 -112 lC9¾-lll ¾ 110 - 110½ 110¾-112½ 112 -113¾ 112 -112¾ 111¼-112¾ 108 -109½
57 - 60
2d, income . . . . .. .. .... 6 44¾- 48¼ 48 - 49¾ 48 - 51¾ 47 - 4.9¾ 4.6 - 52~4 49 - 58 54¾- 58½ 57 - 59
57 - 59% 58 - 60¼ 57 - 59
66½
Gen., g old, 1921 . .. . .4 · •• · - .... ....
... .... - . ... ... - . . . . .... - .... .... - . .. . .... - . .. .... ... . . ... - . .. . .... - .... . ... - . ... 66.½75 - 76
0 ma.ho.& S t. L.- lst . .4 71¾- 72¼ 72 - 75
77¾- 77¼ 77¼- 77¾ 75¼- 76½ 75 - 76
74%- 76
74 - 76!.( 76 - 79
78¾:- O!¼ 77¾- 78
0 r. R 'y. & Nn.v,- lst ... 6 11 0 - 112¾ 110¾-111¾ 110,½-lll llO¾-lll!:,! 110¼-113 113¾-115¼ 111 ·-112½ 112¼-113¼ 113 -113¼ 11.2½-113¼ 112½-113¼ 113 -113¼
Consol., 19Z/i . . . ... . . . l> 102 -104;¼ 104¼-105 103¾-105 104¼-105 105 -106¾ 103½-105 104½-105¾ 104¼-105½ 104¾-105 105¼-106 105¼-100 102 -104
0 reg. Imp. Co.- lst . . . . 6 104¼-106Xi 102 - 106¾ 102 -104¾ 102½-105¾ 105 -106¾ 102¼-103% 102 -103¾ 103 -104 104 -105 103¾-105½ 105 -105½ 101½-103¼
0 regon Trn.ns .- l s t . . . . 6 101½ -108¼ 103 - 100 101'.i¼-106½ 105%-107½ 103 -104¾ 103%-105½ 104½-105¼ 104¾-105½ 104¾-105¼ 104 -106¼ 102 -10! 103 -104¼
p enm1ylv anin. RR.Penn. Co.- l s t, c p . . . 4 ½ 106%-108¼ 108 - 108% 108¾-109 108 -109 109 -1 11 ll0¼-111 109 -109½ 110¼-110¼ 110¾-111¼ 111 -111¼ 110¾-110¾ 111½-l ll½
- .... 106%;-110
.... ....
Re1iiste 1·ed .. . .. . . . -4½ 106 - 108 .... - .. 108¾-103¾ 107½-108 108 -110¾ 112 -ll2 .. - ·•· · .... - ... . ....
- ... .... - ....
Pitts .C .& S t.L.- l s t 7 .... - ... 118¼-118¾ 118½-118½ 118½-118¼ .... - .. .. .... - . ... .... - .... 118 -118 .... - .... ....
....
... - .... H5 -145¼' .... - . • _ 150 -150 .... - .... 146¾-146½ 145¼-145½ 146 -146 .... - .... 146¼-146¾ ....
Pitts.Ft. W .&C.- lst. ,- 142 -142
.... - ....
Zd., 1912 . .... . . .. ... 140 - 141¼ 145 -14.5 .... - ... . .... - . 145 -147¾ 147¾-147½ 144½-144¾ ... .
.... 144½-144½ 144¾-144¾ .... - .... ...
....
.
3,1., 1912 . .. .. .. . ... . .7 140 - HO 140 -14.0 .... - . ... 140 -140 189 -140 .... - . .. . .... - .... ....
.... .. .. .... 140 -140 .. .. - ....
-125
Clev.& P.-Cons.s.td.7 128¾-128¾ 120 -129% 129 -]29% t29¾-129% 126½-127 .... - .... 127 -127 .... - . 123 -123 .... - . ... 125 -125 125
105 -105 104%-104% 105¼-105½ 105¼-105½ .... - .. ..
4th, 1 S 92 .. .. ..... .. . . 6 105 -105 105½-106 106)4-106¾ 106½- 106~ 107 -107¾ 107%-107¾ •• -St. L. V.& T. H,- ht.1 11~ • 11 5 .... - . .. 115 -115 116 -116 119 -119¼ 119½-120 115 -116 116" -117 116 - 117 115)4-115½ 115¾-116¼ 117 -117¼
.... - ....
2d,gu,, 1898 .. ..... . 7 112 -112 .... - .... 110 -110 110 -110 .... - . ... .... - ... . .. .
.... .... - .... .... - .... ... - . ... .. .. .... ....
- ....
p eopl e11•G~· C.,Cht.2d.6
... ... . - .... .... ...
- ... .... - . ... .. - .... . ... - . ... .... - . ... 100 - 100 . ... - .... .... - .. .. 103
p eo. Dec.&Evan.- lst.6 ... . - ... . 104½-104¾ .. .. - . ... ....
- .... 105 -105½ .... - .... 69 --103
. ... 110 - 110 109 -109 106¼-108 108 -108
70
68 - 68
70 - 70
70 - 76
Zd, 19~7 .. ... ········ ···ii 66 - 70
75 - 76½ 75¾- 76
68 - 72
71½- 72
78 - 74
71½- 75
00¼- 71
-102
Evansv. Div., 1 s t .. .. . ti 102¾-108 103¾-109½ 106½-107 106¼-108 108 -108 104½-106¾ 106¾-107½ 106½-106½ 104 -105 104 -104½ .... - . ... 101
p eoria&P ek. Un.- l s t . 6 114 - 114 .... - . ... U4 -114 ... . - .... .... - .... . .. - . . . . . .. - .. 113 -113 .... - .... ... .
.. .. ... . - .... .. .. - ....
2d mort., 1921 ... .. 4¼ 69 - Oil
69 - 70 .... - ... 70 - 70
70 - 70
.. - .... .... - .... .. .. - .. .. .... - . ... 65 - 70 .... - .. .. ........ -- .....
...
p hiln.. Co.- 1 st, s. f . ... 6 .... - .. .. ... . - ... 104¼-1041¼ 104 -104¾ 104% -104¾ tu2 -102¼' ..
- ....
- . ... ... . - . ... . - .... .... - .... 88¼- 80¾
p hila. & Ren.d.- Gen.4 88%- 04
92¾- 03% PO%- 93¼ 92¼- 9!
92%- 94
93¾- 04¾ 00 - 02¾ 90¼- 91½ 90%- 91~4 89½- 91¼ 88¾- 90½
1st p ref. inc., 19/iS .. /i 91¾- 94½ 83¾- 83% 80½- 84¼ 81¼- 83¾ 81½- 83¼ 81¾- 84 80 - 82¾ 80 - 81¾ 80¾- 83% 78¾- 82¼ 76½- 79% 77¾- 79¾
)ld pref. inc., 19:JS .... /i 77¾- 82¾ 71¼- 76 679,- 72 68¼- 69¼ 66¾- 69
67¼- 69¼ 62%- 68
64¾- 66% 65 - 68 59 - 64% 57¾- 60¾ 55 - 58
52 - 53½ 53½- 57% 51 - 53½ 45 - 49¾ 45¼- 48
3d p1·cf. inc., 19/i~ . ... /i 59¾- 62¼ 58 - 60¾ 54 - 57¾ 54½- 55% 62¼- 55½ 53¾- 6 7 51½- 55
... 46 - 46
- .. .. ....
3d p1•ef. inc., conv . . . . /i 59½- 61!},f 58½- 68¼ .... - .... .... - . ... 58 - 58¾ 54 - 54 ....
.... .... - .... .. .. - ....
13½- 13¾
- ... .... - .... .... - ... . ... . - .... .... - ... .... - . ... . ... - .. .. .... - . ... .... - ... . ....
Defcr1·ed income .. . ... 6 18¼- 18¾ 18:J,!- 19¼
p itts.CI.& Tol.-lst ... 6 .... - ... . ... . - .... ...
... . .... - .... .... - ... .... - ... . . ... - . ... .... - . ... . ... .... .... - .... 108 -108 .... - ... .....
p ittsb, lllcK.&Y .-lst.6 .... - ... . · ••· - ... . ... - .
.... - . ...
.... . ... ... . .. . .... - . ... .... - . ... .... . ...
p ltts.Pa.in.&F.- lst g./i 94 - 96
-11? 103 -108 100¼-100¼ ....
96 -100 100 -100
... . ·· -· - .... .... - .. .. . ... - .... ....
99 - 100
99¾-100
p lttsb. & West.-lst . . 4 76¾- 80!,a 807'- 82¾ 81 - 84
88¼- 85
85 - 87¾ 86)4- 87¼ 84 - 85¼ 84 - 84½ 83¾- 84¼ 83½- 84½ 83½- 84½ 83 - 8¼%
p 1·es. & Ar. c.-lst. g .6
.... .... - ..
.... .... - .... 94 - 94 90 - 06½ 90 - 96¼ 94 - 96 03 - 93¼ 93½- 93½
- ... ... - ....
Zd, inc ......... . .. . . .... . 6 .... - .... 60 - 50 . ... - ... . .... - .. .. . .. - . ... 85 - 85 . .. - . . .. ..
. .. ... . ... .. .. - . ... ... - ... . .... . ...
R lcbm; & Allca-hany67½- 70½
68 - 69
66½- 69
1st, Drexel 1·ecelpts .7 58 - 61¾ 61¾- 64¾ 62 - 68½ tl3 - 60 04 - 66¾ 65¾- Oi¾ 65 - 67½ 67 - 70¼ 67 - 69
86½- 37½ 36 - 38%
36 - 36¾ 35 - 37
2d mort. Drexel 1·ec .6 26 - 28 28 - 31¼ 29 - 80½ 30 - 82¾ 81 - 88¼ 33 - 3-!¾ 33 - 34½ 34¾- 37
R ich. & Danv.--Cons .. 6 114 - 115¾ 115¾-110 116 -116¾ 117%-117% 118 -110¾ no -119 116 -116½ 116¼-116¾ 116¼;-116½,117½-119 118½-119 118¼-110:)(
.... 97¾- 97½ 101 - 102½ 100 -102 102¼-104½ 101 -104¾ 104 -104¾ .... - .... 104 -104½ 1101 -101½ 99¼-101 99 - 99¼
Debenture ... ...... . .. . . 6 ... .
Deb. ex. cp .. .. ........ . 93 - 94
95¾- 97¾ 98¾-103 ....
... . ... .. - . ... ... . - ... . ... . - .... .... - . .. ...
87 - 88% 87 - 89
91 =
Con. Jll., irold, 1936./i 86 - 86¼ 87 - 88
89½- 92
88 - 94½ 90¾- 94
89½=
93½- 94¾ 91¼- 94½ 90¼- 93
R ich.& WestPt. Ter .6 96¼- 99 96 - 99½ 98 - 99¾ 98¼-101¼ 101 -103 100¾-102¾ 99½-102¾ 98½- 99¾ 99 - 99¾ 98½- 99½ 98½-100½ 98½-100¾
78 - 80¾ 77½- 79½
80
Con., 1st, col. t. g ... .. /i
... ... - . ... .... - .... . ... - . .. . 87½- 89¾ 84½- 85 85 - 85¼ 81½- 82% 80
R ome W. & Og.- l s t .. . ') 107½- 108¼ .... - .. .. 108¾-109
.... . .. . . ... - . ...
106½- 106½ 107¾·107¼ 107½-107% ... - ..•. ....
Con., 1st, extended .. .:i 108~-110¼ 110 - 111 110 -111¾ 108¼-lll¼ lll¼-112 110;!4-lll½ 110¾-112 110 -112 111 -112 108 - 110 108¼-109 109¼-110
st. Jos.&G'dl8l.- 1st.6 104 - 106½ 106!,i-107½ 106½-lU'i¼ 106¾-109½ 05 -106¼ 105¾-101:l¾ 104½-105½ 105¼;-106½ 106 -100¾ 106)4-107 102 -1041':( 102½-104¼
32½- 32~ 30 - 32
49 - 49
:ld, income .. .. ..... .... . ~ 49 - 49
.... - ...... .. - .. .. . . . . - .... ... . - .... 40-40 . . .. - • .. .
.... .... - . ...
..
.. . - •. •. 87¾- 88½ ....
Kan. C. & Om., 1st .. /i 87½- 89
86¼- 87¼ 86¾- 86¾ 86½- 87½ 83~- 80
89½- 90½
- lU . lll½-111¼
114
...
st. L. Alt.& T.H.-lst .7 112¾-114 .... - .... 113 - 118 113½-114½ 114 -114 115 -115 111 -111 .. . • - ..• . 112 -113¾
.... 110 -110 ·110 -110¾
:ld, Pl'et . ........... . ..... 7 110 -110 105~ -109¾ 108¾-109 108 -109½ 109¼-109½ 112 -112¼ 112¼-112¾ .•• - ••. . 106!,i;-110
- .... 105 -105}' 105¾-105½
~d, income .. . ... .. ... . . .1 l04¼-104½ .. .. - .... ....
... . 107 - 108 . .. . - .... 107 -107 106 -106¾ . . . . - ••. . 106¾-107½
49 - 50 .
44 - 46 .... - ... 45 - 45
40 - 43
Dividend bonds ... .. . .6 .... - .... 40 - 44½ .. - . ... 89 - 40 40 - 40
43 - 45.½ 4.3 - 44
Cb. St. L.& Pad.,1111t./i .... - ....
- .... .... - .... 100¾-100¾ . ... - .. .. .... - . ... • · ·• - .... .... - .... .. .. - .... .... - .... 101 -101 100½-100¼
-117
117
..
.. - .. ..
....
....
... - ...
Belle. & So. IIJ.-lst,8 117 -117 · •• - ....
- .... 114 -114}4 115¼-11 5½ 116¾-118 120 -120 .... .. .. .... - .... .... .... 105 -105
Bell. & Cn.1·on,- lst .. 6 110 -110
- .... .... - .... .... - ... .... .... .. .. - .... .... - . ... .. - ....
... - •. •. 82-86 .... ....
L. !So., 1st, ,:un.r.. 4 83 - 83.
....
- .... .... - .... .... - . ... ... - . .. .... - .... .... - ... . .... .... - ....
~d income ... .... . . ... :i
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st.L.Ark.&Tex.-lst.6 92 - 97 96½- 99 98¾- 981-t, 98 - 98¾ 79 - 92¾ *i8 - 83 .,-,7 - 80 *79¼- 82¾ *77½- 80 *78 =
27 - 29¾ 29 - 31¾ 26½- rn
2d, 1936 ... .. . .... . .. . .. 6 35 - 87½ 35¼- 38 88½- 86½ 88 - 86
27 - 28
27 - 29
25 - 88
20 - 28
27¼- 29
s t. Louis & Ch.- lst .. 6 23¼- 24¾ 25 - 40 38 - 39½ 80 - 89 .... - . .. 87 - 43 40 - 41 •.. . · . ... 15 - 15
st. L.& Iron lllt.- lst . . 7 1087k 110 106¼-106¾ 106¼-106¾ 106%-107 108 - 108½ 108¾-109 109 -109¾ 105½-106 106 -106¼
M , 1891' . ..... . ... .... . . ,- 105 -106¼ 1oe -107¼ 108 -109 108 -108¾ 106 -107 107¼-10~ 109 -110 108½-110 109¼ 109¼ 110 -110 105½-106~ 106¼- l Oi
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R.AILROAI>
BONDS.
1889-C!ontlnued.
IJANUARY I FEBR'RY. MARCH.
BONDS.
-
-
.APR<L.
MAY.
JUNE.
JULY.
AUGUST. B•PT'BER. OCTOBER.
Nov••• "· D,c•n••
- - - - - - - - ,L~w.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.Rig~ Low.High L ow.High L ow.111.IZ'h
St.L.& I.IU.-A1·k. Bx•.7 105½-106 106 -107 106:l,,a-107¾ 107 -108 107 -108½ 104½-10!½ 104½-105 .... - . ....... - .... 106 -107 106%-107 105¼-100
Cah·o &Fulton-lst.. 7 102 -103 102¼-103¾ 103 -104 103)4-103¼ 102¾- 104½ 104½-105¼ 101¼-103¾ 102¾;-103 102½-103 102 -102¾ 103 -103 103)4-105
Cairo A1·k. & Texas. 7 104%-105 104 -106 104 -106½ 107 -107 . ... - . .. 103 -103 104 - 104 102¾-103% 103¼-104½ 104 -105 105½-105½ 102 -102½
Gen. consol. & I. g ... . /i 81 - 84¾ 837/B- 90 88½- 85 81¼- 83¾ 84 - 86¾ 85 - 86)4 84½- 86½ 84½- 86½ 87¼- 00 85¼- 87¾ 84 - 85¾ 84 - 90¼
St. L.&S.F.-2d,cl.A.6 llt3 -116 .... - .... 118 -118 119 -121 118 -118 118 - 118 . ... - . . . . . .. - ... . 118½-118½118½-118½114 -114 111 -113
ClaH D., ................ 6 115¾-117 117½-118 118 - 118 120 -121 116~-118½ 118 -118½ 120 -120 118 -119 .... - . .. . 110 -119 115 -115½ 111 · -113
Class C .... ... ............ 6 115½-117 117 -118 119 - 119 119 - 121 116½-118 118 -118 118 -118 118 -118 118½-118½ 118¾-119 115½-115½ 112¼-112¼
Equipment .......... ... 7 100 -108 ..... - .... . . .. - .. . 108½-108½ .... - .... .. - ....... - ... . .... - . . .. 105¾-105¾ . . . - . ... 105 -105 .. .. - .. .
Gene1·al mort ... ...... . 6 n : },s- 115½ 115½-117 117 - l18 119 -120¾ 110 -121 121 - 121 118 -118 118 -118 119 -120 116¾-116¾ 118 -118¾ 112 -112½
Genera.I mort . .. ...... . 5 10114-103 102¾-104 104¾-105 105¾-107 106~-306¾ 1Q6¾-1C8 103½-105¾ 104 -104¾ 104 -104 ... . - ... . 102 -102 100½-102¼
1st, Trust, 1987 ...... 5 90 - 99¼ 99¾- 99¾ 99¾- 99¼ 97~- 977/B 97¼- 98
99 - 91}¾ 99¾- 99¾ 92 - 99¾ .... - •... 02¾- 92¾ 90¾- 92'¼ .... - .. .
t.P.&D.-2 d,1917 . . al03½-104½105 -106 106 -106¼104¼- 104½104!1;(-105!1:(104½-106 105!1.(-106 105¾-106 106 -106 ... . - .... 102½-102½102 -103
~t.P.M.&lll-lst1909. 7 112 -112 112½-113 118 -114 114 -114 118 -118 .... - .... 113½-113½ 114½-114½ 114½-114½ 117 -117 117 - 117 . ... - ...
2tl mo1•tg., 1909 ...... G 11$¾-120% 120%-121½ 120½-121 118 - 118 ll8½-121 120 -120 121 -121 121¾-122 122¾-122¼ 117 -119½ 117½-117¾ 117 -118½
Dnlrnta Extension .. .. 6 118 -110 120 -120 119 -119¾ 119 -122 118½-118½ 119¾-120 120 -121 121 -121 121 -121¾ 121 -121 115½-116½ 115¾-117
1st, consol~, coup ..... 6 115¾-117 116 -120 117½-118 118 - 119~ 119½-120¼ 120¼-12 1¾ 118¼-118¾ 118%-118¾ 119%-120 11 ¼-ll9¼ ll7¾-118¾ 117 -US
Reduced to ... . ... . .4½ 98¼-100 100 -100½ 100 - 100¾ 100¾-101 103 -103 103 -103¾ 101 -101½ .•.• - ... ..... - . ... 101½-101½ 101 -101½ 100½-101
Cellat. t1·ust, 1 '98 ... 5 97 - 98¼ 96¼- 97¾ 07 - 98 97 - 98
97¾- 99'¼ 99½-100
99½-100½ 98½- 09½ 99¾- 99½ 90¼-100¼ 100 -101½ 101 -101½
Montana Ext., 1st ... 4 88¾- 87 88 - 90
88 - 89½ 87¼- 00
89¾- 9.t½ 89)4- llO½ 88 - 80¾ 86¾- 88¼ 86½- 88
88 - 89
88 - 88¾ 85 - 87
Montana Cent., 1st. 6 100 - 110 110%-113¾ 118¾-115¼ 1157,(-115¾ 115¼;-116 115¾-110 113¾-115 . ••. - ... . 116 -110¾ 115½-115½ 115¼-115½ 115½-116
n.nA. &Ar.P.,1916 .. 6 · ··· - .. ...... - . . ...... - ........ - ... 86 - 88 88 - 88
85 - 85
78 - 83
80 - 88
86 - 87¾ 86¾- 89¼ 86 - ~
1926 ... . ... . ............. 6 Bi¾- 88½ 88¼- 90¾ 85 - 88½ 85¾- 88½ 88½- 91
88 - 0 ¾ 85 - 87
81 - 86
82¾- 89¾ 88 - 90¾ 89¼- 91¼ 80 - 89½
8.F1•an . &N.P.-lst,a-.5 .... - ..... . .. - .... . ... - . . .. .... - .. ... ... - .... 102"-103 100¼-101 lOQ¾-100%100¾-100¾ .... - • .•. .... - ...... .. - .. .
Shen. Vnl.-lst, T1·.rec.7 90 - 91
92 - 92½ 88 - 88
87¾- 89
02 - 06
95 - 90
04½- 05½ . ... - . . . . 94½- 94½ 100 -100 100 -107 105 -115
Gen. mort., Tr. 1·oc .. 6 81 - 88
83½- 84
81 - 81% 31 - 88¾ 89 - 40
88¾- 40
38 - 38¾ 86½- 37 .... - ..
37 - 41
40¾- 45
44 - 49¼
8outh Ca1·01ina-lst .. . . (i 90 - 05
05 - 06
08 - 95
90 - 91
90 - 98 *94¼- 98½ *95 - 08¾ *99 -100½ *9! - 99½ *95¾-101 *94 - 96 *91 -•96
2d, 1931 .. ... .. . ...... .. 6 47 - 58
55 - 60½ 58 - 58½ 55½- 55¾ 50 - 50
55 - CS¼ 52½- 57
57 - 61
57 - 60
57 - 60
58 - 58½ 55¾- 55¾
Incomes . ..... . ... ..... .6 5)11- 9¾ 8 - 10
5¾- 5,ti 5¼- 5¾ . . .. - ... . O - 9 .... - . . .. 7 - 7½ 5 - 7 . .. . - . . . . 6¾- 7
7 - 7
:--o. Pn.c., Cal-1 st ... .... 6 114 -114 114.l,.(-1l4}cJ 115¼-116 114¾-114¼ 115¼-115¾ .. . .
. ... 110¼-117¼ 117½-118 118 -118½ ... . - .. .. 114¼-115½ 113 -ll3½
1st cosol . , 1938 .... .. 5 .... - .... . .. . - . ... .... - .. .. .. ..
. ....... - .... 95 - 05¼ 95 - 96)4 96 - 98¼ 08¾-102
09½-100'¼ 101 -101¾ 101½-102¼
~o. Pac., Adz., lst .... 6 105½-106 1106½-107 j100 - 1~ 100 - 107¼ 106),,j-107 107¼--108¼ 104½-100 106 -106¾ 107 -108 10 9:(-100 109¼ -100½ '109¾-110
!--o. Pac., N . lllcx.-lst.G 105½-107¼ 107¾'-108¼!107½-108¾ 107¾-108¼ 107¾-107½ 107¼-108 105¼-105% 106¼-107 107¾-108½ 108¼-109% 109¾-110 . 109¾-110¼
Tenu.C.&I.-Tonn. D.6 89 - 89¾ 89½- 97 95½-100 P4 - Oj¼; 9\l¼- 96 94¼· 94½ 94¾- 96 95¼- 95¾ 95¾- 99½ 05¼- 96¼ 95½- 08½ 96 - 97~
Bir. Div., 1st ... ... . . 6 69 - 90¼ 90½- 97
95 - 90
96¼- O ¼ 97 - 99
97½ 93
9! - 07
9!½- 96
95 - O ¾ 07 - 98¾ 99 -100 100 -102
Tex. c.-tst, s .f.,1909.7 50 - 50 I 45½- 45½ . ... - .. .. 45 - 45 45 - 50
50 - 50 .... - . . . . 50 - 50 .. .. - •. . ...• . - ..•
lst,1911 ..... .... . .. ... 7 45 -45 45½-45½•· ·· - .. .. ... - .....•. - .•.. 49
49
.. • - .... 50 -50
49 -49 .. .. - .. . . .•• - . ........ - .. .
Tox.&N.O.-l s t,1905.7 ... - .... 110 -116 .... - ... . ···· - ........ - .... ....
. . .. .. .. - ... . .•.. - . ... •. - ...... . - . .. . ... - .. .
abino Div., 1st . ... . . 6 108½-10! . ... - .... 100~-101¼ 102¼-102¼ 102¼-102½ ... . - . ... 104¾-1047-( 104%-104¾ 102 -102 .... - .... .... - .... 105 -105
Texas & Pacific-1st ... 6 L09 -109 .... - .. .. . ... - .. . . •· · · - .... •··· - . ....... - . . . ... - . .. . .... - ... ll0¼-110¼ 110¼-110¼ .. .. - .... .... - .. .
bt, gold, 2000 . . .... .a BE¾- 01¾ 89¾- 91½ 85½- 89¾ 87¼- 92½ 91.½- 94
89 - !H
~s- 89'¼ 80¾- 01¾ 90½- 01¼ 9½- 91½ 01 - 92¾ 89 - 91
2d, g., inc., 2000 .... . 5 36 - 89½ 86½- 89 84 -: 37
35 - 40
38¾- 89% 86¾- 8!l¼ 35 - 37½ 35%- 38¾ 37¾- 38¾ 38 - 37¾ 36¼- 38
35¾- SO¾
Tol . A . A. & C. , 1917' .6 100½- 101 . ... - ...... . . - ... .... . - . .. 101 -101 108 - 106 105¾-106¾ . ... - . . .. 103¾-105¼ 104:)(-105 104 -105¾ 104 -104¼
Tol.A.A.&N.M.,l st .G 09 -102 102 -107½107 - 108 107 - 107½ 104 -104½104 -110¼108 -110 105 -108 106½-108 100½-107%103 - 107%103½-105
Tol.A.A.&G.T.-lst .. 6 103 -104 105½-107 106 - 106½ 106}4-108 108 - 109¼ 109¾-120 113 -116 113 -113 112 -114½ ... . - .... 114 -115 111½-111'¼
Toi.A .A. &lllt.P.-lst.6 .... - . .. . ... . - .. .. · · ·· - .... 02 - 06½ 97¾-101 ·· ·· - . . . .. ... - . .. .•. - •··· .... - .. .. . ... - . . .... .. - .. .. 102 - 102½
•rol . & Ohio Cent.-lst.5 101 - 102¾ 102 -103 102¾-102% 102 -102½ 102¼--lOS½ l08>t1- l0•1½ 101¼-102 101 -102½ 102¼-103 101 -102¼ 101 -102 102½-105¼
T.P.&W.-lst, 1917 .. -:l 75 - 7ti
75½- 76
75¾- 75½ 74 - 7d
76 - 80
70 - 82½ 77 - 79
77 - 78
77½- 78½ 77 - 78
77 - 78
78 - 78¼
'l'ol. St.L.&K.C.- lst.6 92½ - 90
05 - 100
90 -103% 108 - !04 lOS¾-105 101½-102½ 102 -102¾ 102¾-103 102¾-103½ 102½-103½ 102!'(-103½ 100½-100¾
Union Pac.-lst, 1896.6 lll¾-118½ 113 -113¾ 118,½i-114¾ 115 -115¾ 116 -116¾ 116½-116¾ 115 -117¼ 114.¼-115,¼' 115 -115¼ 113 -114 112¾-113¾ 113 -113½
1st, 1897' ............... 6 113 -114 113¾-113¾ 114~-114¾ 115¾-116!,( 116%-117 117 -118% 116_¼'-1187-{ 115¾;-116 115½-116¾ 115¼-116 ll4 -114 ll4 - 115
1st, 1898 . ............. . 6 113½-115½ 115 - 115¼ 115 - 115¾ 115½-117¾ 117¾-118¾ 118¾-120½ 117¾-120 117¼-118 117 -118½ 117 -117¼ 116 -117 115!1:(-116½
tst, 1899 ... .......... . 6 115 -116 116 -116¾ 117 - 118 11'7¾-117½ 118%-119 ll?u - 12! 120½-121½ 119 -119 119¼-110½ 110¾-119¾ 118½-119¾ 118)11-118¼
Ln.ud grn.uts ............ 11 .••• - ... 102!}.(-102¾ . ...
. ... •··· - .... I •••• - .. .. ••• •
• • . ... .
• .• •••. - •••• ••• • - •••••••• _ • ••• • ••• _ ••• • •••• _ •••.
Sinking fuud . .. ...... .. 8 119 -120½ 120 -120¾ 116¾-116¾ 116½-117 1116%-117% 117%-117¾ 117½-117% 118 -118 lU -114¼ 114¼;-115½ 115 -115¾ 115 -11~
Regi toi·ed . .. ... .... .8 119¾-119~ 120 -120¾ 116 -116 116'¼-116'¼ ... - •....... - •• •. .... - .... .... - •.•.... . - ... . ... - ........ - . . .. 115¼-115¾
Collateral T1·ust ..... 6 105½-106½ .. .. - .•. . 106 -106 106½- 106½ .... - ... . .. .. - . ...... . - .... .... - .. .. . ... _ ....... _ .......• _ . ....... _ .. • .
Collateral T1·ust .... . /> . ••• - .••. •••• - •••• •• •• - •• •• •••• - • •·· • ••• - •··· 08 - 98 .... - .... 99 - 99 .••. - .•. . 96 - 96 .. .• - ...... . - ... .
(lollate1·al trust .. . .4 ½ .... - • •• • • •• • - , •·· · · · · - · · · · · · · · - · · · · · · · · - · · · · · · · · - · •· • • •• • - ••• · · · • · - · · · · •••• - • •• • • •• • - •.. •··· - • •• • 90 - 90½
Kau.Pac.-lst, 1S9a.6 111½-111½ .... - •. . ... . . - . . • 110¼-110½ · ... - .... . .. - . ... 112½-112½ 110¾-110¾ . . .. - ........ - .... 110~-110½ 111½-lll½
1st, 1896 ...... ...... . 6 109½-ll~ 110 -110½ 110½-110½ .... - .•.. 112!11-112½ 110 -110 . ... - ..... ... - .. . . 111 -111½ ... . - .... 111½-112½ 108¼-109½
Denv. Div.-Ass' d ... 6 114 -114 115 -115}.f 114½-114¾ 115}(-115¾ 112¼-115 114¾ ·114½ 115 -115 115 - 115 115¼-115½ 116!J:(-ll7¾ 113 -113¼ 113 -ll4½
1st, consol ...... . ..... 6 112 - l W½ 114 -115:14' 11~,-114½ 114~-ll":' 113½-115~ 1;1.4:):(-115¼ 115 -115½ 115 -115½ 115¾-116½ 116 -117 113½- lU¼ ll4 -114¾
At. Col. & Pac.-lst .. 6 1C2 - 103 101 -102 100 -102 88 -100 90¼- 98
90 - 98 I 96 - 97
93 - 90
93 - 03
93 - 97
95 - 05¼ 95 - 97¾
At.J.C . & West-lst.G ... . - ...... .. - ....... . - ........ - .. ... .. . - .. . . .... - ····1·· ·· - .... 03½- 93½ .... - ........ - .. .. 92 - 02 02 - 92
Oreir, Sh. Llnc-lst ... 6 112 -114½ 111 -112¾ 111½-118 111¾-114¼ 118½-114½ 114½ 115¾ 114¾-115½ 112 -113 113 -114 113¾-114½ 113 -114 113 -114½
Utah S outh'n-Gen .. 7 104 -104 103½-10-1 104 - 115 115 - 115 • •·· - .... 114 - 115 1115 -118 .. .. - .... . ••• - . ... 115 -118 116¼-116¾ 118 -118
Ext'n, 1st, 1909 .. ... '7 100 -103½ 100 -100 100 -110 110 -111% 111 -111% 111 -112¾ 114 -115 111½-112½ 113 -ll4 112½-113½ 113½-115 116 -116
1
Un.Puc.L . &Col .,lst.lJ 95½- 96¾ 97 - 98¼ 98½- 99½ 98 - 98½ O\l¾-100¾ lO(l¼-100¾ 101 -101 .. .. - ... . 101½-101½ 100 -103½ 101½·103¼ 101 -102
Utah & oi•th'n-lst .. , .. .. - ..... .. . - ........ - ........ - . . ...... - .. . .... - . . ... . .. - ..... ... - .... .. .. - . . . . .... - ... . 115 -115 115 -115
Vu . Mid.-Gen.,1936 .. 5 78¾- 81
82 - 87'7/B 86¼- 83
87½- 90
87¼- f8ll:t 87¼ • 88½ 86¾- 87
87 - 87¼ 87 - 89
89 - 89¾ 86 - 87
85 - 86
Gen., gun.r.stampr-d./J ... . - ..... . .. - ... . 88 - 90 91¼- 91¾ 90 - 00½ 90 - 01
88~- 00}( 90 - 90¼ 88 - 91
91 - .91
80¼- 89¼ 88 - 68¾
Valley Ry. o1 O.-C on.6 103 -108 105 -105 .. .. - .... 105 -105 105 - 105 . ... - . . . ..... - . . . . . . - . . ...... - ... . . .. . _ •.. . .... _ .... .. . . _ ... .
\.l'abn.sb-lst, g , 1939.5 . ... - . ....... - . . . . ... - . ...... . - .... ···· - · ·· · ··· - . ... ··· · - .... . .. . - .... 103 -103½ 103 -104 lOO!l,(-102¼ 100½-102
2tl 11101·t,, g old, 1939.a .. .. - .. ...... - .... ···· - ··· · .... - ... . ···· - · ·· ·· · · - .... · · ·· - .. . ... - ... .... - ... ... .. - .. .. 81¾- 83¾ 81 - 8!¼
Do Feb.'90coup st'pd. ···· - · ·· · ··· · - .... ·· ·· - ··· · · ·· - ···· · ... - · ·· · ··· - •·· ···· - ·• •· •··· - •··· ··· · - •··· ... - ........ - •··· 80¼- 82½
Deb. inc., 1939, s . B.6 · •• • - · · · · · · •· - •·· · • • · · - ·· •• •··· - · · • · ··· · - · · · · · · · · - •·· .. •· - · •·· -•· • - ••· · •·· - • •· • .... - .... •··· - • ••• 50 - 53
Wab. t. Louis & .Pn.c.1.
Gen. mort., tr. i·cc ... . 6 37½- 87½ 40½- 42
... - . •. . 87 - 37
45 - 45 .... - .. . 44 - 45½ 48 - ~0'¼ 50 - 51¾ 50¼- 50½ 50 - 52 ... . - . . . .
Chicago Div., tr. i·ec.l> ~½- 93 92½- 94 93¼- 96¼ 96½-101¾ 100 - 102~ 102¾-10'..17~ 101½-103 101¼-104 103½-104 103¼-103~ .... - ........ - . . . .
Deu·oit Div. . tr.1·ec.6 113%-llO 115 -117½ 116¼-116½ 118~- 125 124½-128 127 -128 127 -127¾ 127½-128¾ 120 -129¾ .. .. - ... ..... - ........ - ... .
Wn.b' b, 1909. tr.rec.7 80 - 87 87 - 87 88 - 88½ 83 - 02½ 97 - 98½ 98 -100¼ ... . - .... 100 -100½ 100¾-101¾ 100 -100¼ .... - ........ - ... .
Tol.&W.-lst,oxt'd.7 111½-111½ .... - ... . 114 - 114 118 -118)1\ . . - ... .. ... - •... . ... - ... ... .. - ........ - . .. . . ... _ . .. .. . .. - ..... ... _ ... .
Tru s t i·eceipts ..... . 7 SU¾- 01
04 - 95
91 - \15½ 97 -100 100 -10~ 102¼-103 102½-103¼ 102½·102½ 103¼-103¾ . •• • - •....... - ... ..... - . . . .
St. Louis Divisiou ... . 7 ... . - ... . 114 -114 . .. . - ... 118 -118
. . - ... .. •.• - •.•..... - . .. .... - ........ - ... . .... - .. . . . . - ... ... .. _ ... .
Tx·ust 1·eceipts . . .... ?' .... - . . . . 93½- 04.¼ 9! - 95
97 - 98½ 100}(-102¾ 102½-1021}.( .. .. - . .. . 103 -103½ 103½-103~ . .•• - •••.• . .. - ... ..... - . .. .
2d, ext., tx·ust rec ..... 7 !:!7 - 83 88½- 90.½ 87 - 90
00½-100¼ 93½-100 100 -103
99¾ 102 100½-102 102¼-102'¼ 102¼-104 . ... - .... . .. - ... .
Equipment .. . .......... 7 ... - ... . • •· - • •· • • ... - .... •··· - ... • •·· - • . . • •··· - .... 10 - 10 .... - ..... ... - .. . . . . . - ..•..... - ........ - ... .
Cons., couv., tr.1·00 .. '7 86 - 68
85 - 69
87½- 89
88:):(-100¼ 96½- 9i¾ 98 - 100½ 97½- 99¾ 98½-101 100¼-101
99¼-101 ••. . - ........ - ...•
Gt. Westei·n-lst ...... 7 110½-110½ . ... - ... . 115).(-115)4 115!,:(-117 . . •• - . . .. . ... - •.•... . . - ... . .. - .. . .... . .. .. .. _ •.... . .. _ ..•..... _ .•.•
'.l'rust receipts .... . . 7 60 - 91 ... . - .. . 95 - 95
07 -102 101 -102½ 1021,t-103 102)4-103~ . ... - •... 103½-103){ ... . - ... .. .. - ...... .. - •. ..
2d, 1 93, u·. 1·ec ... 7 68 - 88 87 - 9!
86 - 88~ 90 - 07
98¾ ·100 100 -10-t½ 101 -102 100 -102½ 102)4-102½ 102 -102 103¾-103¾ . . .. - ... .
Quin. & Toi., ti·. rec .7 90¾- 90¾ ... . - ........ - .. . . 07 -100 100 -102½ 102¼-102¾:·.... - .... 103 -103¾ 102 -102 . ... - •.... . . - .
Jll.& S. T.,l stTr.1·cc.6 .... - ....... - .. .. ... . - . ... 101½-101½ 101 -102>4 . ... - . ... 101¾-101½103 -103 103½-103½ .... - .. .. .. . - . . ... . .. - ... .
' t.L.Ii..C.&N.-RJ.E.7 111½ -112¾ 113 -114½ 110 -111 111 -112 ll2 -lU lll½-111~ 1. . .. - . ... 111 -111¾ .... - •..
-110 110¼-111 111%-111'¼
~01•th. lllo.-1st ...... 7 113)4-113½ 11$¾-113¾ 118¾- ll4½ Ll4~-114:>.{ 116 - 116 .. . . - •.• 1112½-113½ 114¾-114¾ 115 -115¼ 117 -117 115¾-110¾ 116 -118
···1···· - ... .
.tioo
:~;~-;~t:~!:?~i~~~~
2d M., g., 1927 ... ,3-~
96¾
90½
1!! =~~1
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·os½=Ioi ..
30¾- 40¾ 4()%- 44
40 - 41¾ 39½- 40
36¾- 30
1
:¾=::Jo~!I,(=
37 - 88¼ 84 - 37
08 .. ·05¾= 98 .. ·oo = 07 .. ·o;;¼= ;; .. ·w¾= oo·"l'w½= oo~
33¼- 34¼ 33¾- 35
33.l{- 34
29 - 31½ 29
!~:*!~!
1
~
O'¼
~eos1\·a.~:;:.e!;:~:.~ ~: · ; ~!!¼=~~~ ioQ¾=l03 .. 1()1·¾-102~ io;l4=1oi. ~~!~=i~~¾,ios =100 io2¼=1M .. iot½=103 .. io2'4=103}( io2¼=10~
io3 lM ..
Wbocl. &Lake E.-tst.a 102½-104 104 -10!~ 104 -1 04 102 -102 10;?½-103 105¾-105~ 105 -109¼ 109 -110 108 -109½ 105 -105 105 -105¾ 104½-105)4
Wis. Cent. Co.,. 1st, g .. 5 ... - .. . ..... - ....... - •··· . ... - •.•. .. .. - ... ., ... .
. ... 95'4- 96 96 - ~ 97 - 97¼ 96¼- 98 97~- 98¼ 98½- 09½
luco1ue, 1931.. .. . . .. /j .... - • • • •··· - •·· •·· • - • •· • •· · · - •··· •· ·· - •··· 6& - 68?,. 67 - 67 •-•·· - •··· •··· - ........ - •... .... - .... 58 - 6~
•Coupon oil',
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
r
78
RAILROAD
BONDS.
1890.
BONDS.
JANUARY FEBR'RY.
MARCH.
APRIL,
M.AY.
JUNE.
JULY.
AUGUST. S111PT'BER. OOT0BER. NOV'BER.
DlCO'BD
Low. lligb Low. High Low. High Low. High Low. High Low. High Low. High Low .High Low .High Low .High Low .High Low.111.gll
- - - ----
- - - - - - - - - - - -· ·- - -
Am. Wn.t. W. Co., lst.• 6 .... - .... . ... - ........ - .. . . 108 -109 109½-109½ .•. - .... . ... - .. . ..... - •••..... - ........ - •......• - •...•... - •..•
1st consol., a old as... . ... - . .. . ... - ........ - ........ - .. . . 100½-100½ .... - . . .. 99 - 99 . ... - .... .. .• - •.. .. ..• - ••...... - . ......• - ... .
Atl. & l~ n.nv.-lst ...... 6 .... - .... 08 - 99
98½- 9~ 95 - 96 .... - ••• .... . - . ....... - •••..... - ......•. - ... . .... - ........ - .......• ..
Atlantic & Pn.c.-lst ... 4 71 - 72½ 70¼- 71% 71¾- 75
75 - 79¾ 78 - 82½ 81¼- 82
79½- 80
76 - 79
77¾- 79½ 74, - 77½ 72¾- 73
72 - 74!U
2dW.D.,s.f.,1907.ti•··· - ........ - .... .. .. - ........ - .. . ..... - ........ - . ... 92 -02 . ... - ........ - •...... - ••...... - ••...... - ... .
Income ................. 6 12 - 14
12 - 13
12¾- 15½ 14 - 17¾ 17¼- 24¾ 19 - 21¼ 17¾- 19
15½- 17
14¾- 17
13 - 14% 10¼- 14¾ 10 - 13¾
A tch. Top. & S. Fe.Gen. mort,, 1989 ..... 4 83¼- 84¼ 83¾- 84¾ 83¼- 84¾ 84¾- 86¼ 85¼- 88
86¾- 87½ 8'1¾- 85¾ 83¼- 85¼ 83 - 84¾ 81½- 84
78¾- 83¾ 78 - 81¾
Reaiste1·ed ..... ..... .. ... . - ........ - ... . .... - ........ - .. . . .... - .... x85½- 85½ .... - .• .. 84¼- 84¼ 83¾- 83¾ .... - .•...... - ........ - •...
Income, 1989 ......... 4 55¼- 56
54¼- 55½ M¾- 59% 58¾- 64% 64¼- 70¾ 66¾- 69¼ 64¾- 68% 63¾- 66% 58%- 64
55 - 5Q% 46¾- 66¼ 46¾- 65¾
Reaistered . ........... .4 .... - .... •... - . . . . . . . . - . . . . . . . . - ... . .... - ........ - . . . . 66¾- 66¾ .... - . . . . ... - •.....•. - . •. . . • - •.•....• - ••.•
1920 trust .rec'pts .. 4½ 70 - 70 .... - ........ - •....... - •• . •.... - ........ - •.....•. - ........ - .•. . ... - ........ - ........ - ........ _ ...•
Cbic.S.F.&Cnl.1st,5 85¼-85)4 . ... - ......•• - ....... - ........ - ........ - . . . .... - ........ - •.. . .•.. - •....... - ........ - ....... - .. • •
GulfCol.&S.F.-1st,7 114%-119¼ 110 -120 .... - ........ - •. . . . . . - ... ..... - . ....•.. - ... . .. - ... .... . - .....••• ...... - ........ - .. ..
Trust receipts ..... . 112½-113½ 117¼-117¾ ..•. - •.• . .•• - .. . ..... _ ... .. ... _ . ....... - .•....•• - . . . . . .. _ ........ _ ........ - ........ _ ...•
Gold . .......... . ........ 6 74¼- 76 , 76½- 77¾ .... - ••...... - .. . ..... _
... . - . . . . . .. - ••. . .... - .. . .. - ... . .... - ........ - ........ - .•.•
Trust receipts....... 73¼- 75½ 76½- 76½ .••. - •.•. 83 - 83 .... - .. . . . . . - ........ - .... 118½-118lj 117¼-118¾ .... - ........ - ........ - . .. .
Rn.It. &O.-1st, P.Br .. 6 121 -121½ .... - .... 121 -122 .... - •. . . 117½-117½ 120 -120 ..•. - ••..... . - ... . . .. - ........ - ....... - .... 116 -116
Gold, 192~, coup ..... i; 109½-100¼ 106!}4-107½ 107¼-108 108¼-109¾ 108 -109 108%-109½ 109¼-109¼ 107½-108 106 -107 107¼-108 104¼-107 106 -107
Gold, 1925, 1•eg ...... a . ... - .... 1107 -107 107½-107¼ .... - •. . .
_ ••..... - ..•..•.• - .... .. .. - ....... - . ....... - ........ - .... ..
- ... .
Consol., gold, 1988 .. ~ .... - ........ - . . .. .... - ... . ... . - .... .... _ ...... . _ ....... - ... 107¾-107¾ .... - ........ - ........ - .... 105¼-105J.&
B.& O.S. W.-1st, 1990 .. .. - ........
- ........ - ........ - .. . ..... - ........ - .... 99lJ4- 99¾ ···· - ........ - ........ - ........ - .... 94 - 94'
1
Beecb C1·eek.-lst, v. .. 4 ·· · · - ..•. 89 - 89 ···· - •••. . •.. - •. . ....• - .••.... - .... 85 - 85 ···· - ··•· .. ·· - ....... - .... ···· - ···· ·· - ... .
Bos. Un.Gn.s-Tr.cer.sf.:i 92 - 93
92 - 92¾ . . . - ..•.... • - . . . . . • _ . . . . ... _ ........ - ..• .. ... - ....... _ . . ...... _ • . . . .. . . _ . ....... _ ...•
Bost.H.T.&Wes.deb .5 99 -100 101 -102
99¾-100
99 - 100 100 -100¼ 100 -102 .... - ..• . •• - ... . 08¼- 98¼ 98 - 08
95 - 95
95 - 05~
Buff. R. & P.-Gen ..... 5 .... - ........ - .. . ..... - ........ - ........ - ... . ... - ... . 100 -100 100 -100
98 - 98½ .... - •. . . 95 - 98
95 - 05
Roell. & Pitts., 1st .. 6 .... - ........ - .. .... .. - ........ - ........ - .... 119½-119½ .... - .... 117 -121 .... - .... 117 -117 .... - ....... . - ... .
Consol., 1st .... .. .... 6 .... - .... 116 -116 .... - ... . 118 -118 . ... - ... . .... - ... . 116½-116¼ 116¼-116½ 117 -118
... - . . . 115 -115 112 -112
R'klynEl.-lst,1924 .. 6 111¼-112 112 -113 112¼-113¼ 110¼-111¼ 110¼-111¾ 110 -110¾ 110½ ·110¼ 111 -112 111 -112 110 -111¾ 108 -111 107¼-110
2,1 mo1·t., 1915 .... 3.5 86 - 86 ...• - . •• 86 - 86
90 - 00¼ .... - ........ - •.. . 87½- 00 .... - ... 90 - 90
87 - 87¾ 85 - 88
85 - 85
Union El.-ht,1931' .6 108 -108¼ 107¼-108¾ 107 -107% 107%-109¾ 106¼-107¼ 107¼-108 108 -109 109 -110 108½-lOV½ 108½-111¼ 106 -108 105¼-106¾
Bur. C.R. & No,-lst .. 5 06 - 98
96¾- 98
07½- 98¼ 08%-100 100¼-102
08¾- 99½ 98 - 99½ 97 - 08¼ 95½- 96% 03½- 07½ 04 - 07½ 90 - 96½
Cons. 1st & col. tr ... . ;J 90 - 90
90 - 01
90¼- 92
87½- 90
87½- 87¼ .. •• - •... 00 - 91 .... - ........ - . .. . 86½- 87½
- ••. . 82 - 82
Re1riste1·ed.............. . . . . . - . . .. .. . . - . . . . .. .. - .. .. .. .. - . . . . .. . . - . . . . . . . . - . . . . .. . . - . . .. · · · · - · · · · . . . . - ...... • • - • • • • · .. · - · · · · 82 - 82
I. C.& \V. , ll!llt,1909 .7 85 - 87¾ •• . - •.•.••. - .. •. .... - •..... . . - .. . .. - ... . . ... - •.•..•.• - .•...... - ... . ...• - ... .... - ....... - ... .
C,R.I.F.&N.,1st ...... ti .... - ···· .... - · ··· .... - .... 90¼- 90¾ 94 - 94
00 - 90
... - .... ···· - ···· .... - .... · ··· ·· .... - ···· 98 - 98
I 1st, i_ 9~1 ... .... . .... . t)
- • • • • • • • • - • • • . .. .. - . .. ..... - . .. . 97 - 97 . ... - . • . . 87½- 87½ • • · • - • ... • • • • - .. .. • • - • · • · · · · · - · • • · • • .. - • · • •
Can. Soutb.- lst, llllO.l', 107 -108 107¾-110 108¾-lOP 108¾-109¾ 108¼- l09:14109¼-109¾ *106 -107,,( 105 -107 105%-107 106 -106% tlO'i -106 105 -106¼
2d mo1·t . ....... .. . ..... . :; 97¼-100
99¼-100
97 - 08½ 97¾-10
99 _100
99¾-100
99¼-100!1( 99 -100½ 96 - 98
96 - 97
04-½- 06½ 94 - 95½
Registered .. .. ........ .,:i .... - . . . . 99 - 09 ...• - .... . ... - ... .. ... _ . . . ... - •... . ... - ... .. ... - ........ - .. . . ... - ........ - .... • • .. - •...
Cent, RR. & B., Ga . . 5 100½-101¼ 09 -101¼ 100 -100 100 -10
99¾- 99¾ .... - .... 98 - 99 100 -100 110½ 110½ .... - .... ·· · · - . ...
98 ¾-lOO
Sav.&W.,1stcon.,g.5 08 - 99¼ 98 - 98¾ 95¼- 96
93 - 95
03¾- 94.% 94 - 94 .... - ••.. 92¾- 92¾ 90 - 90
88½- 89 •··· - .. . 83 - 83:J(
Cent. of N. J,-1890 ... 7 102¾-103)4 .. . . - ... ..... - ........ - ....
....
. .. ..... - ..•..•.. - ••...... - .... . ... - ... . ... . - ........ - ...•
Consol., 1899 ......... 7 1121 -122 121½-122 120 -121 110¼-120 118¼-119¾ 119 -119½ ..•. - ...• 117 -118 118 -118 115¼-116½ +115-116½ 115¼-116
Conv., 1902 .... ... .... , 124½-124¼ 1128 -128 .... - .... 128 -128 124%-124¾
. ••. - . ... 125¾-125¾
- .... 124 -124 118 -118 .... - ... .
Conv. deb.,1908 . ..... 6 124.;½-124¼ 122 -122
... - ... . . . - . . ..
. ... _ ....
- .... .... - .... .... _ ..
. .. - ..... ... - ... .
Gen. M., 1987 . ... .... :) 110¼ 112 ILl0¾-111!}4110½-111¾ lll¼-113½ 112½-113½ 112%-113½ *110%-111110 -111 110 -111 109¾-110~4 108 Jlll 106 -109¼
Registe1·ed . .. . . ...... 5 1110½-111% 111 -111¾ 110 - 111¾ 110 -111¼ 111 -112 *110¾-112 110¾-111 111 - 111 111 -111 1(\9 -109¾ 109 -109¾ 104 107
Leb.&W.B.-Assent 7 :115 -117 J115 -115¼ 113 - 114 114 -115 114¼-115¼ 113 -115 114¼-115 114 -114¼ 113 -113¾ 113¼-113¾ 111¼-111¼ 105 -110¼
Morta-n.ae, 1912 .. .. 5 i103 -1031 .. ·· - · ... . 104 -104'¼ 104 -105 102 -103¾ 103¼-103¼ 103¼-103¾
•.. ....
102¼-102½ .... - .... 07¾-100
Am. Dock & Imp ...... :; 107½-110 109¾-110 109 -109¾ 109 -109½ 109 -109¾ *00¼-110¼ 108 -109 107¼-108¾ 107 -109¼ 108¾-110 107 -108 106 -108
Central Pacifi c.Gold, 1895 ..... . .. ... . 6 110 - 111 111 -111½ lll¼-112¾1111¼-111¼ 110¼-110%
109 -109 109¾-109¼ 109½-109¾ .... - .... 110 -110¼ 110½-1~0%
Gold, 1896 ..... ..... . 6111 -111:}fl 112¾-112¾ 112¾-113½ lll½-111¼ 112 -112 113 -113¼ 110¾-110¾ .. .. - .... 111¼-111½ 111¾-111¾ tlll-111¾ ···· - ... .
Gold, 1897 . ...... ..... . 6 112%-112% 113 -114¼ 114¼-115 113¾-lU !13 -113¼ 114 -114 111¾-111¾ 111%-111¾ 111%-112¼ 112¼-112½ 111%;-+12¾ 113 -113
Gold, 1898 .. .......... . 6 112 -114 114½-115¼ 115¾-116¾ 114½-115½ 114¼-115¾ 115¼-115½ 112%-113¼ 113¼ 113¾ 113 -113¼ 113%-114¾ 111 -114¾ 114¼-115
SanJonquin Br ....... 6 ... - ... !113½-114½ .... 111 -111½ 112 -112
. ... - •... 110¾-111 .... - . ... 1'107-107 105 -105
Land a-rants ....... . . .. . 6 101¾-102½ 102)4-102¼ 102%-102% 100¼-100% 100%-100¾ 101¼-101¾ 101¼-102 102 - 102 .... - . .. .
- •.•..... - .. .. · · · • - • .. •
lllort. auar, 1939 .. :; .... - . . .. 94¾- 95 .. .. - .... 101¼-101½ 100 -101% . ... _ .... . ... - .•..... . - .....•.• - .•• . ... - .... .... - ... . · .. · - •···
Western Pn.c . ......... . 6 ... - . ... 112 -112 115 -115 .... - ........ - ... . 114½-115 112 -112 .... - .... 111 -111 110½-112 108:1(-110¼ 110 - 110
No. ofCal., 50 year .. 5 .. .. - .. . ..... - . . .. 100%-101½ 99¾-100¼ 100¼-100¾ 100%-100% 100½-101% 100%-100% 100¾-100½ 100 -100¾ 100 -100¾ 100 -100¾
Cbn.1·. C,& A.-tst,'95.1 ... - ...... .. - . . ... . . . - . .. 109 -109 ... . - ... . .... - •... . ... - ........ - .....•.• - •.. ... . - . ..... .. ·· - .. ..
Ches.& O.-P.mon.t'dfi 113¼-113¼ 115 -115 . ... - . .... .. . - ........ - ... . ... - ....... . - ••.. lll½-111½ ... . - ... Lll¾-112¾ .... - .... 112? - 112
Series A, gold, 1908.6 L17 -118¼ J 19½-120 119 -120¾ 115~117¾ 117 ·-117½ 116 -116½ 117¾-117¼ 116¾-116¾ 115 -116½ 113 -114 113 -115 111¾-115
lllort., 1911. ... . . .. .... 6 ll5½-115½ 116½-118 . . - ........ - .... 116 -117 116 -116 1115¾-116\14 .... - ... . 115 - 116 *lll¼-12¾ 113 -111 111 -113
1st, con., a., 1939 .. . . :; L00¼-10 1¾ 100:½;-101¼ 100 -100¾ 100¾-10 ¼ 99%-101¼ 101 -101% 100½-100¾ 99¼-101
99 -100½ 99¼-101 *93 - 98¼ 92½- 96
Registe1·ed . .. .... ...... . 100¼-100¼ .... - .... . ... - ........ - . ••. . .. - ........ - ... . .... - . .. . 97 -100¼ 100 -100 .... - .•...... - •... • •· • - • •··
R.&A.div. , lst con2 •4 .. .. - ... . . . - ... 69¼- 69½ 70 - 72
71¾- 72
71¾- 73½ 71½- 72
70 - 71¾ ~7 - 69¾ 69 - 70
64½- 70
66 - 611¾
, 1st cons ol .. 1989 ... 4 .... - ... . .... - ........ - ... . ·· ·· - ···· ... . - ....... - .... 82 - 82 .... - ••. . . . . - .•....•• - ........ - .... •·· · - •···
!ld consol., 1989.3-4
- ........ - ... . ... - .... 67½- 71¼ 72¼- 77
75¼- 76
73%- 74
73 - 74
72 - 73½
- ..
68 - 68
66 - 69
Cheli. O. & S. W ........ 6 110 -113½ ... . - . . .. 108 - 108 109 - l L , 111½-112¾ 111¼-111¾ 111 -111 107½-107½ 108 -108 113 -113 100 -105 103 -106
2,1mo1·t.,1911. . . ..... 6 .. .. - .... 80¾-81
81 -82
82¼-82½ 85 -86
84 -84 ···· - ···· · ··· _- ··· · ·· · ·,u-_ ·;;,_;, · ··· _- ···· 1· ···u-_ · ·~ f\AA1=l06··;;
1 0 5 74 10u 74 1 06 106 1 06 74 106711 1UV74
Chic. & Alton-1st . .... 7 lOS½-108¼ 108¾-108¼ 108¼-108¼ . ... - •.. . .•• - •.• . .... - •... 106 -106 ....
""
Sinldng fund, 1903 . . 6 t22 -122 122½ -122¼ 1.... - .. .. 122 -122 119¼-119½ 120¼-120¼ .... - ........ -· .•. . 121¼-121½ 121¼-122¼ 119 -119
L.&lllo,R.lst, 1900.1 . .. . - ... . 118½-llP 118¾ -118¾ 118¾-118¾ .... - .. . ... - .... 119 -120 ...• - ... . ... - ... . 115¾-116 .... - ......•• - ····
2d, l 900 ... . ... ... , .. . 7 ll8½-118½ .... - .. ... ... - . .. . . . - ... .... . - .... 114¼-117 117 -117 115 -115
.•. - . • • . ... - ........ - .... · · · · - · · ·•
St.L.J.& Uh.lst,'94? lll ¾-112½ 112 -112% 112½-112¼ 110 -110 110 -110¼ .. . . - ........ - ..... ... - ... . .... - ... 107½ 107¾ .... - ... . .... - •··•
Cbic. 8111•.& No1·.-1st.l) 100 -101¾ 100 -101 103%-10!¾ 102½-10'2½ 105 -105 104 -105 104¾-105 104 -105 104 -104 101 -101¼ ..•. - ... 101 -101
C bic. Bui-I. & QuincyConsol. .. .. . ..... . ........ 7 126 -127 e 6¾-127 127 -127½ 126%-127¼ 126½-128 127¼-129 124 -125 123½-124 123¼-125 123½-125 123 -124½ 122 -124½
Sink. fnnd, 1901 ..... tj i06¼-i08 107¾-107¾ .. .. - . . 105¼-1 5¾ 105 -105 105¾-106
.... - .... 105 -105¼ . .
- ... 102¾-103 100 -102 •··· - · ··
Debenture, 1913 ..... a 104.)4-105 10! -104¾ 104 -105 105¼-1 5% 102)4-103 102½-103 102¼-103 101¼ -102 101½-102¼ 102¾ 104
06¼ 100¾ 96 - 99
IowaDiv.-·sink. fd ... a .. .. - ... . .. - ....... - .... 107¼-107½ 107¾-107¾ .... - ... . .... - .... 108¼-108¼ . ... - ....... - ... . .... - .... · ··· - •· ··
I own. Div ... .. .. .... , .. .4 06¼- 07¼ 97½- 07¾ 98 - 99 . 95¼- 5¾ 05¼- 95½ 05½- 95¾ 95¾- 95½ 95¾- 95¼ 95¾- 95¾ 93½- 94 03¾.- 93¾ 92 - 92
Denver Div., 1922 . .. 4 94½- 95
03 - 94
92%- 94
!H - 04¾ 9414- 94¼ 95¼- 95¼ 04¾- 96
92¼- 92½ 92 - 92½ 00½- 91% 88 - 91
88¼- 89
Pin.in, 1921. .......... . 4 . . . - ... 02¾- 93
90½ - 00½ 90½- 91% 91¼- 92
92 - 92
02 - 93 .... - .... 1 89½- 90¼ 86½- 88½ 86½- 86½ 85 - 85
N eb1·' slm Ext., 1927' .4 Q2 - 93¼ 92¼- 93¾ 92¾- 93¼ 93¾- 94¼ 91½- 93
91½- 92
91¼- 92¼ 91 - 91% 90%- 01¾ 90~- 92
87 - 00¼ 84¼- 89
Cbic. & E. 111,-lst, s.f.ti 118 - 118 116½-116½ 116¼-117 117 -118 .. .. - ... 116¼-116½ 115¾-116½ . ... - •... 1•••• - •••• 115½-115¾ 115½-115½'111 -112
lstconsol., gold ...... . 6 120 - 121¼ 118 -120 118 -118 116 -1 17¼ 116!!:(-117 117¼-118½ .... - .•.. 121 -121 1121 -122 *117 -117¼ 116½-116¾ ···· - ··· ·
Gen. mo1·t., 1937' ... . 5 97 -100
05 - 95
95 - 08
97½- 99
97 - 08
07¼- 98
97%- 99
98 - 98½ 96 - 98¾ 99 -100
04 - 96
93 - 95
Chic. Gns L, & C- 1st .. a 90¾- 94¾ 93¼- 04½ 02¼- 9!½ PZ¾- 95¾ 95¼- 98½ 06 - 96¾ 92 - 92½ 88½- 92 I .. - .... 86 - 88
83½ -88
80 - 86½
Chic.&ln,C'IRy-1st.5 . .. - ... . 95 - 99% 97 - 98¼ 98 - 98
98 - 98¼ 97 -100
97 - 98
97¼- 97½ 96¼- 97
96¾- 97¼ 97 - 97
97½-lOO
Chic. Milw. & St. P.1st, P. D., 1898 . ..... 8 126½-128 124 -124¼ 124 -125 124 -124½ 124%-125½ 124%-125½ 125 -125½ ... - •••. 121 -121 121 -121½ 120 -121¾ 119 -12o
1
115 - 116
2d, P. D . , 1898..... ?'·3 . ... - . .. . 116 -116 116 -116¼ 118 -119 120 -120½ 121 -122 . ... - ........ •••• 115;i-115¼ +113-114
ls t,gold, R. D,1902.7 122½-123½ 123½-124¾ 124¾-124¼ 124"-124¾ :J,24½-126¼ 125¾-126½ 123 -123¾ 122 -122 ,122 -122 124 -124 .... - .... •••• - ·•·•
1
1st Ln. Crosse Div .... ? 110¼-113 110%-11278 110 -112 113 -118¼ 118 -119¼ 118 -119 113¼-114 112¼-113 ...• - .... .l.09¼-110 105 -110 107 -109
1st I. & lll. Div ........ 7 115½-117 116¼·117 ,116 -117 117 -119 120 -121 . .. . -_ . ....... - . . .. 118¼-118½ .... - ... 117 -117 118 -118 ··••
••
1st I. &_D. Di_v .........7 ·;..·· -_ .... 118 -_119 117 -_117 120¾-120¾ .... - ... . 122 122 ... - .... . . - ••• . .... - ... 124 -124 118¾-122½ 1 21 122
1st C. & IU. Div .... ... ?' 123½ 124¾ 126 126 1.. . .
. ... 126 -126 .... - ... . 126 -129 117 -123¼ . ... - ' .• . . ..• 122 -124% 113 -120 122 ~-122~
Consol., 1905 ....... .. 7 124%-127 126 -126¼ 126¼-127!!( 127¼-128¾ 128 -129¼ 128 -129¼ 125 -125% 125· -125% 124 -125!,4124¼-125½ 125 -126½ 122 - 122
1st I. & D. Exten . .... ,- 124%-125 125 -126:)(1.... - . . 127,(-127¼ 128½-128¼ .... - ... .. .•. - ..•..... - . .. . 123¼-123¾ 124 -125 121 -122 ···· - •••
ht So. West. Div ..... 6 113¼-114¾ 114 -114 1113¼-114¾ i14¼-115 115 -116 116 -116¾ •113½-14¼ 112¾-112¼ .... - ........ - •.•. 109½-112¾ llo,,(-ll~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
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R.AlLRO.AD
BONDS.
1890-C!ontln ued.
BONDS.
JANUARY FEBR1RY.
M.AReH.
APRIL.
MAY.
JUNE.
JOLY.
AUGUST. SEPT'BER. O0TOBER. Nov'BER. DEC'BER.
- - - - - - - - - - · .L ow.Big~ Low.High Low.High Low.High Low.High Low.High Low.High Low.High Low.High !'ow.High ~ow.High Low.High
Ch. M. & St. P.-(O!m,.)ht La C. & Dav ..... . :,
- .. .. 102!'4;-102~ 103 -103¼ . .. • - • .. . 103½-103½ .... - .. . 102½-102¾ .... - ........ - ••. . . .. - . . .. .. - •.
98¾- 00~
lat So. Minn. Div . .... 6 113 -117 114¾·114¾ 114 -116¼ 114¼-118¾ 115 -117 116¼-117½ 113¼-113¾ 112½-11'1 113 -115 113 -11,1 112 -113¾ 111¾-113¾
bt H. & D. Div . ...... 1 122 -124 123 -124 123½-124 123½-124½ 124½-127 127 - 127 122 -123½ 120 -121¼ 120 -120 121 -1~1 119 -120 117¼-123
ht H. & D. Div ... . . . 6 102!4-102¼ .•• - .... 102½-103½ . ... - . ... 104 -104 104¼-105 102½-103 102½-103 101¾-101½ 100¾ 101 102 -102 99 -103
Chic. & Pac. Div ...... 6 116 -116 118 -118 . .. • - ........ - •.. 116¼-117 .... - .... >tJ.H¾-14¾ .. .. - ... . 115 -115 115 -110 . ... - . .. . 113 -114,(
Chic. & Pac. W .Div .. 6 106½-107½ 107 -108 106 -107 106:11;-107¾ 107¾-109 108¼-109¼ 107 -107¾ 106½-107¾ 104¼·106¼ 104~.£-105!),~ 104 -106 103 -106
Chic. & Mo, R. Dlv .. 6 102¾-102¾ 102½-102¾ 102¾-102% 102¼-103 102¾-103½ 103 -103¾ *101½·02¾ 101 -101½ 101 -102 100½·100½ 97 - 90 07 - 08
Mineral Point Div . .. :, 103¼-104 . ..• - •.•. 103½ 105 102½-103½ 104 -104½ 103¼-105% *103 -103¾ . ... - .... 104 -104 . ... - .. . 101 -101 .... - ... .
Chic. & L, Sup. Div .:i 102½-102½ .. - . .• 102 -102 103¾-103¾ .... - ........ - ... ..... - ... 101¼-101¼ .... - ....... - ....... - ........ - ... .
Wis.& Min. Div . .... . 6 103 -10~ 103½-103¾ 103 -103% 103¼-104¼ 103!14-104!!4 104%-106 >tJ.03½-03¾ 104 -104 103¾-104½ 102¾ 104 99½-100½ 101¾-101½
Terminal.. .. ......... . 6 103¼-105 103½-104 103 -104 .... - . ... 104 -105 106¼-106 103¼-103¾ 104 -104 103 -104 101¾-101 99 -102 100 -10~
l :i' ariro & Southern ... ti .... - .. ... ... - ........ - ... 122 -122 .... - ........ - .. ... ... - ••...... - •.. . .... - ........ - . . . . .. . - ........ - •...
Inc. conv., S. F ....... 6 124¾· 125 ...• - .... ... . - ..•....• - ... . .... - ..... ... - ... .. ... - ... .. .. . - ........ - ... ..... - .. .. . . - ... ..... - ... .
Dakota & Gt. So • .. . lj .... - .... 101 -101
99 -100¼ 99 -101¼ 101¾-102½ 101¾-103½ •.. - ........ - ... . 100 -100½ 100 -101
99 -100 ... . - •..•
Gen. M.,"A" 1989 ... 4 96¼- 95¾ 95¼- 96¼ 95!'4- 96¼ 96 - 96¾ 04¼- 96¾ 94¾- 95!14 91¾- 91% 90¼- 91½ 89~.!- 90 88½- 89¼ 87½- 87h ..•. - ••••
Chic. & N o•·thwest' nCon■ ol., 1915 .... .... . ,- 143 -144 142 -142¾ 142 -H2 142½-143¼ 141 -142 141½-142 141 -U2
. . - ... . 139¾ HO 139 -141 135½-138½ 135 -138
Gold, coup., 1002 .... , 126½-127¼ 126¼-127 126 -128 127½-128 128 -129 *12'1¾-126 125½-126 123 -126 12:1 -12:1.½ 124 -125¼ 125 -128½ 124 -124¼
Gold, rea., 1902 ...... , 126¾-127½ 126%-126% 1277/4-127¼ 127½-127¾ 124 -129 125¾ 126 125¼-125½ 125 -125¾ 123¾ 125 124~ 124¾ 123½-125 123¾-124)4
!Slnkinafu.nd,coup .... 6115¼-116 117 -117 116:11;-116¾ 114 -114½ 114¾-115 116¾-110½ 116%-116¼ 117 -117 ... - .. .. 117 -117 115 -115 112 -113½
) Rea-htercd .. ......... 6 113 -113
•. • - ........ - ....... - .... .... - .. . ..... - ........ - . .. . 117½ 117¾ 118 -118 113 -113 .... - ... 112 -113½
Slnklnir fund, coup .. . 6 108¼-109¾ 108¼-110¾ 107)4-109 106¼-108 107½-108½ 107¼-108¾ 108 -108% 107 -108½ .... - .. . . 105½-107¾ 103 -106 105 -100
Rei.lstered . .... .. ., .. :,i . . . • - . . . . . . • . - .. . . . . . . - .... 106)4-106¾ . . • • - • . . . . . • . - . . . . . . . . - .. . . .. - .. .. . . . . - .... 107 -107 . . . . - .. .. 103 -104
Debenture, 1933 .... . {'i· 109 -110¾ 110½-111¼ 111½-111¾ 111 -112 109 -109¾ 110 -110 100¾-109½ .... - •. . 108¼ 110¾ 108 -110½ 104 -105¾ 105 -106¾
Reiristert'd ... ...... ,.6 .... - .. . ... - .... 108 -108 111 -112 109½-109½ 109¼-109¼ .. .. - ... . .. - .... .... - .... 105½-107 .... - ... 106 -106
26 yn, deben., 1909.6 106:14-106~ 106¾-108½ 107½-108 ... . .. 104½-105½ 105¼-106½ 106 -107 104:11;-106 106 -106 106 -107 104 -104 100 -105
Rea-istered .. ..... .. . 6 .... - ........ - .... 107 -107 . •. - •••...•. _ . ... .. .. - ...... .. - . . . . .. - •.....•. - . .. 106 -106 .... - .... 101 -101
Exten. bonds, 19~6 .. 4 96 - 98¼ 96 - 99¾ 96½- 97 97¾-100 98¼-100 99 -101½ 100 -100 99 -100 09 - 09 90 - 99½ 98½- 99 96%- 96%
Re11:i11tered . . .. ... .. . 4 gs - 96 .••. - •• •..... - ........ - ... . ..•• _ ........ - ........ - ........ - ••...... - , .•....• - ... ..... - . .. 116¾- 96¼
El!lcau. & L.S., 1981.6 . ... - . .. . . .. - . .. 115 -115 .... - . ....... - ........ - ........ - • . . . .. . . - ........ - ..•.•.•• - .... 110½-llOJ,{ .... - · · · ·
Iowa ll'lidland, lst ... 8 .... - .... .... - ..... ... - ........ - ........ - ........ - ........ - ........ - ........ - . . ...... - .... . ... . . L?.3½-123!~
Penlneula, lat con ■ .• '7 .... - ... ..... - ... .
- .... . . .. - ........ - ........ - ........ - ....... . - .... 118 -118 .... - . .• . ... - . . . • • • • - .. ..
Chic.& Mil.-lat ... ... 7 .. .. - .... . ... - ... . 119:l<(-ll9;1( •. . - • .• . . • . . - ••• . 119¾-119¾ .. . . - ........ - ... . .... - ....•... - • . .. ..
. .. L14.¼-llll!1
Wlnona&St.P.-2d.'7 1•· ··-·• ... ... -._. ... - ........ . . 134-134 .... - .. .... .. - ........ - ....... - ...•... - •...... .... - .. .
MU. & Mad.- lst ..... 6 .... - ........ - ... . .. - .... 116½-116½ 117½-117½ .. .. - ....... . - . ....... - .... . .. . - . ........ - ... . •••• - ••.. · · .. - · · · ·
Ottum.C.F.&St,P .6 1108¼-108½ .... - .. ..... . - .... 108 -100 108¼-108)4109 -109 .... - . ... . .. - . . . . .. - .•. . 106 -106 .... - ... . 104 -104
:Northern Ill11.-lst .. 6 .... - ...
- . ....... - ... . 108¼-108¾ 108¾-108¼ .. .. - . . .... . . - ........ - ........ - •••.. ... - ... . 105 -107½ • • .. - • • ..
Chic. Peor. & St. L.,ir .6 91¼- 94 98 - 95 92¼- 95¼ 94¾- 95 94¾- 97½ 97¾- 99¾ 99 - 99½ 98¼- 99¼ 97 - P9 98:14- 99
98 - 98¾ 97¼- 98
Chic. R. I. & Pac.Coupon ......... ........ 6 129,.-180¼ 180 -131 129½-130~ 129!,ii-130 181½-132 131¾-131¾ *128 -128 128 -128 126 -1281/4126 -127 121¼ 127 124½-125½
Reiriatered .. ... ... . ... . 6 .. •• - • • •• . . . . - .... 129 -129 129½-129¾ . . . . - . . . . . . . . - .... 128 -128 .. . . - .... 126¾-126¾ 126 -126 126 -126 L21 -121
Exten. & Col .... ... ... 6 104¼-105¾ 104¾-105% 104%-105½ 105 -106 105 -105¾ 105½-106¼ *103¾-104 102½-103½ 100½ 102¾ 99¼-102 97½-lOlY. 95¼- 99½
l Reiristered ...... .... ~ 104J.c(-105J.& 105½-105% 103:14-103¼ .... - ......•• - ........ - .. . . . .. - ..... . . . - .... lOQ¾-100½ 99¼-100¾ •••• - .... . ... - ... .
Keok'k&DeaM.-ht,~ 102¼-105 103 -104 104 -104 102½-106 .... - •... 102½·102½ 104%-i05 .... - .... 108 -108 100 -100 .•.• - . . .. . ... - ... .
De• M. & Ft.D.-l•t,4 .... - ........ - ... . 82½- 82½ ... . •••• - ....... - ... .... . - ••. 82 - 82 .•.. - ....... - •.. . 98½- 98.l{ .... - .. ..
l11t, 1903 ..... ...... .:l¾ ... . - ... ..... - ... .... . - .... 56½- 56½ .... - . ....... - .... . •.• - ........ - ... ... .• - ..... .. . - . . .. .•. - ... .. .. . - .. ..
Chlc.St.L.&Pitta-l•t.3 100 -101¼ 103½-lOi 104 -104¼ 102 -103¾ .... - ........ - •.. . 103¾-104½ 100¼·106½ 102½-103½ 98 - 98 99½- 99¾ 100 -100
Reirlstered ............ . 6 . . . . - . . . . . . . . - . . . . .. . - . . . . . . . . - . . . . . . . . - . . . . . . . . - . . . . . .. . - . . . . . . . - ... . 100 -100 . • . . - . . . . . . • . - .. . • • • • • - • • • •
Chic. 8t.P. Min.& Om.Con11ol., 1930 ..... .... 6 121 -122½ 120¼-121½ 120½-121¾ 121¼-122 121~4:-123½ *119 -120½ 119 -120½ 118 -120 117 -110 118¼ 120 116 -110½ 114 -116¾
Chlc.St.P.&M.-bt .. 6 .... - ... . 124¾-124¼ 123¾-124½ 125¼-126 123½-124 . ... - . ... 122 -122¾ .... - .... 123 -123 ..•. - . ... 121¼-122 122 -122
St. P. & S. Clty-ht .. 6 124!,(-126 126 -126 124¼-125¾ 122:1(-123 123 -123¼ 123 -123 123 -123½ 123 -123½ 124 -125 •121 -121¾ 122¼ 122½ 120½-122!4
Cblc.&W.l,-lst,a.-f.. 611'1 -114 .... - ....... - .......• - ....... . - ........ - ........ _ . .. . ..•• _ .... . ... _ ...... _ ... . .... - .... . ... - .. ..
Gen. mort,, 1932 ..... 6 118¾-118% 119 -119 117 -117 117 -117 119 -119 117½-117½ .•• . - ••• ...• • - •... 116 -116 .... - ........ - .•. . • •·· - • .. •
Ctn.Hnm.&Day.-!-.f.7 . ... - ........ - ... . .... - ........ - . .. . .... - ........ - .... .. .. - ........ - ........ - . .. 124 -124 120 -120 .... - .. ..
Cln.In.St.L.&C.-l11t.4 100 -100 99 -100 100 -102 100¾-100¾ 100 -100. 99½- 99½ 99 - 00 98 - 98 98 - 98 97 - 97 96½- 07½ 97 - 97
Cin.J.&M.-lat,cou . .6 65 -65 70 -73 70 -70½•··· - .... . ... - .. . .... . - ........ - .••..... - . ... .... - •...••. - •...•... - •· . .. .. - • ···
Ctn.San. & Clev.-lat.6 •··· - •··· .... - . ...... . - ........ - .. . .... . - ........ - .... 105½-105½ .. .. - ........ - ........ - ...... . - .. · .. . . - ... ·
Cleve. & Canton-ht .6 04 - 1n 92½- 96½ 92½- 94½ 92 - 92¼ 91 - 94¾ 94: - 96:1,t 93 - 94¾ 94
94:!J( 92 - 94
91½- 93½ 90 - 92¼ 90 - 91¾
Clev. Cln. Ch. & St. L.CalroDlv.,l•t,1939.4 .. - ........ - .... oo - 90 90 - 90 90 - 90 92 - 92 91 - 91¾ . ... - .. .. ... . - ... 89 - 89 .••• - ........ - .. ..
Cl, C. C.& 1.-ht, ■.td.7 120¾-120½ 120:11;-121½ 121 -121:14 121¾-122 118½-119½ 118 -110 118¼-118½ .... - ... . 118 -119~ 118¼ ·120 ..• . - ••.. 116 -116
Conaol. ................... '7 .... - . . .. 133 -135 132½-134½ .. . . - .. . . ... - •... 130½-130¼ 130¼-130¼ .... - . .. . ... - • .. . ...
• ..•...• - .... 127 -127
General cons .. ... . ... . 6 118¼-118½ 117¾-119 118 -118¾ 118:14-121 123¼-125¼ 125 -125¾ 122 -122 120½-120¾ .... - . . . . . .• - •.••...• - •••. 117 -120
01.& Mah. V .-ir.193S.3 ··· · - ··· · ... - .... .... - .. . .. .. - . .. . ... - ........ - .. .... .. - .... . .. - .... 107 -107
.. - ...... " - ....... · - · · ..
Col. Coal & 1.-l ■ t,con.6 103¾-108 103¾-104¾ 103 -104 103¼-104¾ 104¼-105 104)4-105¼ 106 -106 103%-105 103¼-105)4 103¾-104 100 -104 99¾-102½
Colorado Mtd.-l ■ t, ir.6 .. .. - .... 105 -105 ... - . .. . 104 -105¾ 104½-106½ .... - .... 103 -104¼ 103 -103 106 -106½ 109 -109 104½ 108½ 104:1(-107¾
Consol., irold, 1940 .. 4 ... - ........ - . .. .. ... - ........ - .. ..... . - .. . ..... - ... . .... - . .. . 66¾- 70 69½- 75½ 71½- 72¼ 70½· 70¾ 60¼- 70½
Col.H. Val.& T.-lat . . . 6 74 - 79 76½- 78¼ 73¼- 77¾ 7b - 82 81 - 83 81¼- 85 85 - 88¼ 85
88
82½· 86¾ 81 - Si
76 - 82¾ 74½- 80~t
Gen. a-old, 1904 ...... 6 75 - 77 77 - 77
73 - 76½ 76 - 83¾ 83~1- 88¾ 83¼- 87½ 88 - 89¾ 85 - 88½ 87 - 88¾ 86 - 88
78 - 87¾ 78 - 86
Col.&Green.-lst,'16.6 .... - .... . ... - ..... .. . - ... . ... - ........ - .... 102 -109 ... - ... ...• . - . ..
. . - ... . .... - ........ - ... . .. .. - .. ..
2d, 19~6 .. , .... .. . .. . . . 6 ·· · · - · · ...... - ........ - ........ - ... · .... - .... .... - ........ - . . . . 89 - 89 .... - • .. . 86 - 86 85 - 85 · · · • - · · · •
Col.R'kC.&l,-191'7 .6 .... - ........ - ........ - ........ - ........ - .... ... - ... . 99%- 99% .... - .•. . .•.• - ••.. 100 -101 99 ·- 99 100 -100
Del. & Hud•on Canalbt, 1891 ... ............ .7 102 -103~ 102¾-103% 103 -103¼ 103¼-104 103¾-105 100½-104 100¾-101¾ 101¼-101% 101 -101½ 101¾-102¼ 102¼-102% 1021)4-103¾
lat extended, 1891 . . , 106¼-106½ 107½·107½ •..• - •.•. 104¾-108¼ 105 -105 .... - ........ - ... ... .. - ....... . . . . . . .. . . - .... 102¾-102¾ 100*100¾
Coupon, 1.894 .......... 7 113¾-114¼ 114¼-114¼ 114)4-115 111 -112 111¼-111¾ 112¼-112¼ 112¼-lli¾ 112¼· 112¾ .... - .... 109 -109½ 108 -109¼ 108 -108
Rear., 1894 ............. , .... - .... 114¾-114¼ .... - .... 110¾-111 lll¼-112 .. .. - .... 112)4-112¾ 113 -113¼ 113 -113 . ..• - .... 107½-109 .... - ... .
Penna. Dh.-Coup . . . 7 145 -146½ 145 -145 142¼-143 .... - .... 144 -146½ 146 -147 148 -148 .... - .... 144¼-145¼ .... - .... 14.0 -140 140 -141
Reirlstered .. ...... .. '7 .... - . . ...... - .... 143 -143 .... - ..... .. . - •.. . 147¼•147½ ... _ .. ... ... _ .....•. - . ....... - ........ - . . 140 -140
Alb. & Sul!lq.-lst, iru. 7 123 -124 .•. - ........ - ••. 130 -130 . ... - .... 128 -131 132 -132 130 -130 131¼ ·132 128¼:-128½ 128½-128½ 128 -129
1st eoup., iiuar ... ... 6 123 -124½ •••• - .... .... - ... . 121 -121¾ 121 -121¾ 121 -121 .... - .... 120 -121 120½-121 118 -118 118 -118 116 -118¼
Rea-istered . . ...... .. . 6 .... - .. ..... . - .. ...... - . . . . . . . - . . ...... - ... . .... - . .. . ... - .. . . ... - ... . 119 -119 .... - .•. .. ... - . . . 114¾-115
Ren11. & Sar.-lst .... , 147¼-149 149 -149 148~-149½ 149¼-149¼ .... - .... ... . - ........ - ........ : .. .. .... - ....... - •......• - ... 145 -145
Reirlste••ed ....... . .. 7 . . . . - .... 149 -149 . . . . - . . .. .. - . . . . . • . • - • • .. . . . - • .. . . . .. - . . . . .. . • - • .. . .. . • - . . . . . . . . - • • .. .. .. - . . .. .. . . - •.••
Del. L & w.-Conv .... 7 .... - .... 106 -106 107 -107¼ 108 -109 .. .. - ........ - ......•. - ........ - ........ - ... . . . .. - .... 103 -103½ .... - .. . .
.Mert., 1907
... ..... , 136 -136~ ...• - .... 132¾-132¾ 133¼-138½ .• . . - .. . . .• - •. .. . •. - ........ - ........ - .... 130 -130 .... - .... 131½-131¼
Syr.B'n&N.Y.,bt .. ,132¾-134½133½-135 l~¾-135½ ..•. - . . . 182 -132 .... - ...... . . - ...... .. - .•. 132½134¾130 -130 .... - ··· · ··· - .. ..
Morris & Essex-lst.'7 145 -146¼ 146 -146¾ 146 -146 145 -146½ •.. - •••. 143 -143 144 -144
..• - •....... - .... 143 -143 139 -141½ 139:Ji-141
2d Mortiiaa-e ... ..... , 107 -107½ 104¼-104% 104¾-104½ 104%-10!1¾ 104¼-104¼ 104¾-105 105¼-105½ .... - .•.. 101¾ 101¾ 101¼-103 102½-102½ 102 -103½
1871-1901 .... .. ..... 7 . ... - .... 129 -129 . ... - .... 126¼:-127¾ 127 -128 126)4-126½ 126%-126¾ 125 -127 125 -125 122 -124¼ 120½-124 121 -121½
Consol., a-uar ......... , lW -14~ 141¼-141½ 141:11;-142 140¼-142 142 -142½ 137½·138¼ 138 -138 137¾·137¾ 135 -135 138 -140 138 -HO 130½-133½
N.Y. L. & W.-l ■ t ... . ti 132½-134 133 -134½ 132¾-134 134½-13!¾ 134¼-134¾ 132½-134 ~31-131 . ... - .... 131 -131 131½-131½ ... 130 -130
Construction ........ :J ... . - . . . lll½-111½ lll¼-111½ .... - .. . 112 -112 111¾-llZ 112 -112 110 -110 107 -109 108 -109 105½-108~t 104 -108¾
Den. c. Cable-1st ... ti .... - .... . ..
. ....... - .... 101¼-101¾ 102 -103 102¾-102¾ 100 -101 100¼-101 100 -100 101¾-1019::( 100 -100 .... - . . . .
Donver & Rio G,-ht., 118½-1:;.8½ 119 -119 118¼-119 .... .. 117½-117½ 117½-118 1179::(-118 117½-117½ .... - .... 118 -120 .... - ... 112!,i-116
Newconsol, 1936 .. . 4 76¼- 78 77¾- 79 78 - 79 79 - 83¼ 82¾- 83¾ 83 - 81¼ *81¾· 82 81 - 83
81½ · 83
81¼- 83¼ 79 - 82
79 - 81
Imp. M., a-., 1928 ... .. (> 82 - 82¾ 82½- 82½ 82¾- 82½ 81 - 84 85 - 86½ 85¼- 87 *86¼- 87 84 - 85 83 - 84½ 81 - 83 80 • 84 *80¾- 81
Det. M. & ll'.l.-L. ll'•• ·• 3 ¾ 36 - 38 38 - 38
35 - 38
35½- 38¼ aB - 39¼ 89 - 39¼ 36 - 37½ 34 - 36
33 - 35¼ 33 - 34!14 28¼- 32
27 - 29
Det. B. C. &Alp.-ht .. 6 100 -100 100 -100 99 - 99 99 - 99 99 -100 ... . - . .. . 99 - 99 .... - ........ - . .. . ... - . . . 94 - 94 90 - 93
Dul-i,th & I. R.-tst . . . 3 101 -101¼ 100½-101 101¼-102% 100 -100¾ 100 -100 100½-100¼ 99 -100 100 -102 100 -100 97%- 97½ 95 - 95 .... - ... .
Dul. S.S.& Atl., 193, .~ 92 - 93 92 - 93¾ 93¾- 94 95 - 97 97 -101 100% 100¼ 97¼- 99 97 - 98¼ 96 - 97½ 95 - 97 t90 - 96 00 - 95½
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
• .Ex-interest.
t Under the rule; ca.sh.
R.AJLRO.AD
BONDS.
1890-c:Jontinued.
~~-
JANUARY FEBR'R;,·
MARCH.
APRIL.
MAY.
JUNE,
JULY.
AUGUST. /SEPT'BER, OCTOBER. NOV'BE~. - DEC'JJER.
I
Low.High Low .High Low.High Low.High Low.High Low.High Low.High Low.High Low.Illgb Low.High Low.High Low.High
E. Tenn. V.& G.-l■t .. '7 1-19 -120 119¼-119¼ 119 -119 119 -120 120 -121¼ 120 -121 116¼-116¼ .... - .... 1115½-116 116 -116 114½-116 .... ~~
Divisional .............. ~ 107¾-107¾ ... - ........ - . ... 110¾-111
Consol,, ht, 19~6 .... ~ 103½-105 104¾-106¼ 105 -106¼ 105¼-108 106- 107 105¾--106¼ 106 -107¼ 105 -107 106½ 107½ 105½ 107 t102¼ 04¼ 100 -102
1st Ext., g., 1937 .... ~ 90¾- 91½ 90 - 90
90 - 90
... - .... 91¼- 93 ; ... - ........ 90 - 90
Equip. & Imp., aold .. ~ .... - ........ - .... 89%- 89¼ .... - . ...... . _ ••.• ....
.. ...... = .... ::::
Mobile &Bi"rm.-lst.6 88 - 88 .. .. - . ..... .. - .... 89¼- 89% .... - ··· ·I 85 - 85
90 - 90 .. .. - ....... - ........ - .... ....
. ...... .
Knox. & O.-1st, g ... 6 108½-110 110 -110¼ 110¼-111¾ 110 -111 110 -111¾ 110¼-113 *110 -111 109¾-111 109¼-110½ 109 -111 .... - .... 103 -105
Alabama Cent.-1st .ti .... - ... 114¼-114¼ 115¼-115¾ 116¼-116¼ .... - ....... . - ........ - ... ..... - •...•... - . ...... .
Edison E. Ill. Oo.-lst.6 . : .. - . .. . . . . - .... . ... - ........ - .... 100¼-100¼ 08 -100
98 - 99
95 - 97
06 - 07¾ 90 - 97
93 - 95
Eliz. Lex. & Big. S . ... 0 103 -104 100 -104,
93¼- 96¼ 90¼- 9€
93%- 96¼ 93 - 94¾ 93¼- 94¼ 92.½i - 93
8978 - 91
88 - 89.½i 87%- 90
88 - 80
Equit. Ga11. & F,-lst .. 6 . ... - ........ - .... 95 - 96
97 -100¼ 100 -101
97 - 97½ .... - ........ - ....... - ........ 83 - 88
Erle-1st, :Kxt,, 1891' ... '7 120 -120 120 -120 120 -120 .... - . . .. 117¼-117¼ 118 -118 117 -118 118½-118½ 118¾-118¾ . ... - .... 117¼-117¼ ..
2d, Ext., 1919 ......... 6 117¾-118 117¼-118 lH¼-114¼ .. . - .... 115¼-115¼ .... .... - .• -. 118½-118¼ 116¼-116½ 116 -118 117 -118¼ 114 -114
3d, Ext,, 1923 ....... 4¾ 108 -109¼ 110¼-111¼ 109 -109¼ 109 -109 109 -109 110 -110 111 -111 .... - .'. .... . . - ... 100 -109 107½-109 1107 -107
4th, Ext,, 1920 .. ..... ~ 116 -116 116¼-117 .... - .. . , x114 -115 116 -115 .... - . ... 117¼-118 118 -118 .... - .... 114 -115 114 -114 112 -112
6th, Ext,, 1928 .. .... .. 4 . ... - ... ..... - .... 104 -104 103¾-10:l½ 103½-104¼ 103 -103 103 -104¾ 102½-103¼ .. .. - ... . 102 -103½ .... - . .. . 90 -100
1st, consol,, gold ...... 7 137¼-139~ 139 -139¾ 136 -136½ 134¾-136 136¾-136¼ 136 -137 .... - .... 137 -137½ 134 -134½ 133¾-131¼ 132½-133½ 130¼-131½
1st con, fund coup .... '7 .... - . .. .. . - .... 136¼-136½ 133 -133 .... 137 -137
Reorae.n,, 1111t lien ... ti .... - . . .. . . - ....... - ... . 110 -110 .... ~ ........ - .... 100 -100
Lona Dock, 1893 .... . 7 108¾-109¼ 109¼-109¾ 109¾-110¼ 110 -110¾ 110 -110)4107 -107 lv7 -107 .... - . ... 108 -108½ 108½-108½ 108 -109 103½-104¼
1 Cons, arold, 1936 ... 6 120 ·122¼ 121 -12~ .... - .. . 120 -120¼ 119 -120¼ 120 -120 119 -120 120 -121 119½-120½ 117¾-117½ 117½ -119 117 -117¼
Buff, N, Y,&E,-ht.'7 139 -139 ... - •... 139¼-140
- .... 138 -138 .... - ........ - .... ....
- .. .. 133 -133
N,Y,L,E,&W,-2dcon.6 100¼-102¼ 100¼-102¼, 9$¾-102
99¾-105 104 -107 *103¼-05¼ 103 -104¾ 101 -103 102¼-103½ 98 -102¾ 94 -100¼ *93 - 07
Col, trust, 1922 ..... 6 . . . . - . . . . .. .. - .... 10$¾-108¾ . . .. - .... 107 -111 .. .. - .... 112 -112
Fund, coup,, 1969 .. 6 87¼- 88
87¼- 89
88 - 88¼ .... - .... 90 - 94
88¾- 89¼ 89½- 00¼ 90 - 90
90 - 91¼ 90 - 90
85 - 90
Jefferson RR,-lsta-.~ 106¼-106¼ 105 -105¾ . .•• - .... 105 -105 106 -107 107 -107 .... - .... 107 -107 104 -104 .... - .... 102 -102
Eure-ka Sp1•'as-lst,a .. 6 .... - .... ....
- ....... 107 -107 .... Ev,&lnd'p,con,,1926.6110¼-110¼ .... - .... 112 -112 ....
. . . . 112 -112 .. ..
- ••.. 109 -109 109 -109
Ev, & T. Haute-Con .. 6 115¼-117 118 -118 118 -118 120 -122~ 121½-122 121 -121 118 -118
- ... 118 -118 117½-110
- .... 114½-118
Mt. Vernon-1st . ...... 6 ... - .... 114 -114
- .... 115¼-115¼. .. .
- .. ...... - . .. . .... ... 106 -100
Flint & P. M.-Mort ... 6 .... - .... 121 -122 122 -122 119%-119% 119 -119½ 119 -=12·0·¼·. 12
.••1. --12·1·. -'t1. 2. 0 -120
- .... 116¼-117¼ 115 -117 115 -115¼
1st cons., ir,, 1939 ... ~ ... - .... 104 -105 105 -106 107 -107¾ 107 -107¾ . .. .
- .... · · .. - .. . • 100 -100
Pt. Hui·. Div,, 1st .... :, .... - ........ - ...... · • - • • • 100 -100
98 - 98
Ft,W.&Denv.C.-lst .6 104 -105¼ 103 -105 103%-106¾ 106¾-109!,(iJ.08 -110 *105.-107 104¼-106 103¼-106 103 -106 103¾-106½ 101¾-105¾ *94¼-101
Galv.H.&H.of'82.. ~ .... - .... ·· -1- - .... 74%- 77
76 - 80
78 - 81
- ........ 70 - 70
'
Gal, H a r. & S, A.-lst.6 .... ........ - .. . .... 99¼-100
87 - 87
2d mort, 190~ ........ .'7 .... - . . . . 07 -100
- . ... 97 -100¼ .... - .... *96¼- 983i 95 - 98
93 - 93
97 - 97
'92 - 93
93 - 94% *87 - 91
Western Div-1st ..... ~ 93¼- 93¼ 93¼- 94.½i 94 - 94¾ 94¼- 05!lt 93 - 93¾ 93¾- 94¾ 94 - 95¾ 94%· 95¾ 95 - 96
95¾- 9594,: 02½- 94
93 - 94¼
2d, 1931 . ....... ...... .. 6 98 - 98 .... - ... .... . - ........ 96 - 96 .... Ga. So. & Fla.-hr., a.-ti .... - ....... - .... 98 - 98¾
~- 99¾ .•• .
- .... 92-92}4 .... Gr, Rap.& Ind,-Gen.6 .... - .. .. 91 - 91
- ... . 112¼-112¼ ... . 1st, arua1•,, 1899 .. ... '7 . . . . - .... 109 -109
ll!lt extended land .... 7 .... Gr.B. w .&St.P -lstM.6 81¼-- 82
- .... 90 - 90 . •••
. .•. 00-90 ... .
2d, income .... .. ....... .S 16 - 22 20 - 28 24 - 25 23 - 29 29¾- 33¾ 32 - 33 .•.•
,1st subs. paid ........ . , 18 - 1_. 21 - 21¼ .... - . .. . 23 - 30 .... - .. .. .... - ........ 1
2d i;iubs. paid .. . ....... .... - .. .. .. . - .. . . 29¼- 33½ 31 - 82¾ 33 - 33¾ 27 - 27 .. . . Han. & St. J o.-Cons . ti 120 -120 120¼-121 117¾--117¼ 118¼-118¼ 117 -117 116 -116 118 -119
- .. . . 114 -114½ 114¼-115¼ 115 -115 112½-114¾
Hen. Bl'idae Co.-lst ... 6 H0¼-110¼ .. .. . - .. .. 110 -110 . ... - . .. 110¾-110¾ 111¾-111¾ .. .. - .. .. 108 -108 .... - .... 108 -108 108 -108
Housat'c-(JoH,,1937' .. a 105 -105 106 -107 107¼-lOV¼ . . . •
.. •. 105¼-105½ 105¾-106 . . • - . . . . . . • •
• •.. 105 -105
_ ... . . . .. - .... 107 -107¼ 10! -105 103¼-103¼
N .H.&D,,con.,1918.~ 1051,t-106 106 - 106 106¼-106¾ .... _
Hous,&T,C •.-lst,ll'I.L.1 115½-115% ... .
M, L. T1·ust rec ..... . , . •.. - ........ - .... 110¼-110¼ 110 -113 114 -114¼ 112 -112¼ 113½-115 _113U-1H¼ 112½-113¼ 111 -114 108½-109¾ 109 -110
1111t, Western Div . ..... , 106¼-106¼ ...
Trust 1·eceipt111 .... .. 7 .... - ... . 111 -111
•... ..•• - ... . 110 -110
.... 114 -114 .•.•
- .... 115 -115
Waco & N, W.-tst .. 7 .... - · ··· .... .... 110 -110 .... 2d, Main Line ....... S 120 -120 . .. .
• ....... _ .....• "'
•.•• ••• •
T1·ust Receipts .. . ..... .. • • - • • • • 122½-122¼ 120¼-122¼ 111 -115
... - ....... .
Gen, M,, Trust rec ... 6 75¼- 76
75 - 76¼ , ••.. - . .•. 75¾- 78¾ 80¼- 80¼ .... - . .. . . . ..
- .. . . 72 - 75
70 - 74
73 - 77
73¼- 77¾
lll.Cent-Gold,H9:Sl,3¼ 91 - 91¾ 91 - 91¾ 91¾- 92
91¾- 92¼ 92¼- 95
94 - 94¼ 93 - 93
93 - 93
93 - 93
90 · 01
92)4- 92¾
1st gold, 19:Sl ... ..... 4 1()6_½-107 107 -107)4 107 -107¼ 108¼-108½ 107 -107 108¼-108¼ ....
105 -105 105 -105¼ 102 -105
1
Gold, 19/i2 ..... ....... . 4 100¾-101¼ 101½-101½ 102¾-102¾ 100¾-101 100¾-101 101 -101
..• . 101 -101
- . .. · 98 - 98
98 - 98
Sprinir:t, Div., '98 ... . ti ·· · · - ···· .... - .. .. 1112¼·112½ 112¾-112¾ .... - .... ....
... I
Mld, Div.,reir,,19 ~1. ~ 96 - 06 .... - ....
115 -115 .. ..
lli> -115
C,St,L.&N.O.-lst,c.7 117 -118 117%-118.½i 119 -119 119 -119 .... - ........ Tennessee lien ...... , .. .. .... 119 -119 ...•
. .•. 114 -115 118 -118 110¼-116
Gold, coup ... ••· .. •••.:, · · .. - .... 116 -116 115¼-115½ 116 -120 117 -117
- .... 107¼-107¼
Gold, 1·eg .. ..... · .... . /i .... - .... 113 -113 116 - 115 . .•. - ... . .•. - ••.. 94 - 94
Memp. Div., 1st,a,,4 97 - 98½ 97)4- 98
96¾- 97¼ 06¼- 96¼ 96!);!- 97½ 96 - 96½ 06 - 96½ 95½- 06½ . ... Dub. & S.C,-2d Div . '7 107 - 108
_ . . ...... _
_ •.....•• _
- ... , 103¼-103½
77%· 82
80 - 81
79 - 79¾
Cedar F. & M,,lst ... 1 74 - 74¼ .... - .... 70 - 70
66 - 90
80 - 90
82 - 82½ ..•• - . ... 80 - 80
-100
[nd. D. & Sp1•.-lst, f .7 · ···• - .. . 100 -100¼ .... - ... ..... - . ... 08¼- 98¼ .. ..
•... 100
Do nust 1·eceipts .. 101 -101 101½-102
99 -101¼ 08½- 99
98¼- 9fl½ 08 - 09
93 - 99
- ... . 95 -106 100 -101 .. .... - • . •. . . . . _ ... .
30 - 34
30 - ·30
31¼- 82
[nd, D. & W.-2d, inc.~ .. .. - ... . .... - •.....•. - .... . ..• - . . ... _ ....... .
- .... 35 - 35
lntet·n. & Gt, No,-lst.6 109¾-112 110¾-112 110¾-111¼ 110 -110¼ 111¾-116¼ 115 -116½ 114½-116 113 -113 112 -115½ 113 -116 111 -114 111 -112
Co11pon, 1909 ........ .. 6 73¾- 75½ 76 - 77 · 75¼- 76½ 75¾- 76
76 - 87½ ... .
80 - 80
76 - 77¾ 73 - 76¼ 70 - 73
Do trust 1·eceipts.. 73)4- 76¾ 75¾- 77
75 - 76¾ 75¼- 75¾ 76¾- 89
87 - 87% 80 - 87½ .... - .... 80 - 80
83¼- 86¾ 81 - 86~ 76 - 81
fowa Cent.-lst, aold ..:S 85 - 87¼ 86 - 87¾ 85 - 86¾ 86¼- 88¼ 88 - 91
87¼- 88¾ 86¼- 87¾ 85 - 85% 84 - 86
- .... 71-71
K.n.n.&Mich.- 1990 .. 4 .... - .. ...... - ....... - ...... _ .... ... . Kentucky C., 198'7 ..... 4 84 - 85
84¼- 84¾ 84:¾- 84¾ 83¾- 85
84 - 8!¾ 81.½- 85¾ 82 - 84¾ 83 - 84¼' 81 - 81½ 80 - 81¼ 79 - 81½ 78 - 81
-100.½i
100
-100½
99¼-100½
100 -100
Ktnirs Co. El.-lst, A.~ 104 -105 104¼-105 103¾-104½ 104 -105 104 -104¾ 104 -104% 102 -102½ 100 -101¾ 100
74¾- 75
69¾- 80
Laci.Gas, St.L,-lst, a.~ ••·· - .... 84 - 86
81 - 84
81¼- 86)4 83~- 89
82¼- 85
82¼- 84¼ *79¾- 81½ 79 - 80¼ 78½- 79
Lake Erie & W,-lst .. 6 110¼-111 110 -112 110 -J.11¼ 109 -111 111%-112¾ 111¼-112¾ 110 -110 109¼-110¼ 10~ -110½ 107 -109½ 107 -108 105¼-108
Lake Sh,01·e & M, So.Cl. Pains,&A&h ..... . , 106¼-106½ .. . . - .... 109)4-109¾ 106 -106 106¼ ·106% 106 -106 .•.. - "·· .... - ........ - ... . 103½-103½ 104 -104 104 -10,1,
Buff. & EJ:ie-New ... . 7 121 -121 121)4-121¼ 121½-121¼ 118 -119 118 -118 117)4-118¾ 118)4-118¾ 118¾-118¾ .... - .•. . 115 -115½ 114¾ 114¾ 114'.¼ ·lllS
Det. Mon. & '.l'ol. ... .. 7 133 -133¼ 130¼-130½ .... - ... 131 -131
- ........ - .. . . .... - ........ L. Shore-Dividend . .'7 123¼-123¼ 123¾-123½ 123 -123 110 -119¼ 120 -120 118½-118½ 119½-110½ 119¼-lHJ¼ 119 -119 116¼ ·116½ 118 -118 116 -116¾
1st con,, coup ........ , 124 -126 125¼-126 125 -125¼ 125 126 1.25½-128 128 -128 122¾-122¼ . .. - . . ll24¾-125 123¼·123½ 122 -124 121¾-123¾
1st con., i·eg ..... . . . .. 7124 -125 125 -12,5½ 123¼-125¼ 122¼-123¼ 122½-124 124 -124¼ 121¼-123 120¼-121 121 -123 12194-121¾ 120½-120¼ 120 -121¾
2d con., coup ......... , 123¾-125 125 -125 12¼¼-125 125 -125¼ 126 -128 123 -124% 122¾-125 123¾-124 122¼-122½ 123 -123¼ 123 -124 118¼-lZ-l
' 2d con,, reg .......... ~'7 .... - .... 123½-125 124 -124¾ 124¼-125½ 124 -127¼ .... - .... 123¾-123¾ 122½-123¼ 122 -122½ 123 -123 120¼ 124½ 118¼--120¾
Mahon.Coal lst,'34,/i .... - ........ - ........ - ........ - ... . . ...
. . .. 109 -109 ....
. ... 107 -107 106 -110 107¼-107¼ ... . Leb.V.,N.Y.- lstiru,a,4 .... - ........ - ........ - ..... . . . - .... . ...
- ........ - .... 1~ -102
Lltch. C,& W,-lst, r,r.6 ....
- . ... 97¾- 98 .. ..
1,ona lsland-lst, '98,7 . ... - ... 120 -120 .... - .... 121 -121 117 -117¼ 117¼-119 118 -118 . ...
. ... 120¼-120½ 118 -118 l14M-l14¾ ·.... ht, consol, 1931 .. ... ~ 116 - 117)4 116 -116 115¾-116 116 -116¼ 117 -117 '114 -115½ 114¼-114½ 112 -114¼ 113 -113½1111¾-112¾ 111¼-112 111½-112
I
•
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1....
Gen. mort., 193S.... 4 97%- 99
08 - 99
N. Y. &R. B, lst, ir .. /i . ... 2d, income.. ...... .. .. . . . . N,Y,B,&M.B,,1111t .. ~ .. .. N.Y.&M.B.-1st'9'7.'7 .... B1•. & M., 1st, 1911.6 ....
.. . . ....
Sm, & P • .J., l st ........ 7110 -110
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Federal Reserve Bank of St. Louis
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96¾- 97¼ 95¾- 97¼ 96 - 96
- .. . . 35 - 35
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- - - - - : - - - - - - -- IL
__
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w_.H._lg_b Low.Ri g~ L ow. High Low. High Low.High Low. High Low . High L ow .H igh Low.Rig~ Low.High Low.High Low.High
L.E..-.&St.L.-Con.l•t ~ .. .. - . .. . .. - .. ..
Loula. &Nasbv.-Con.7 115 -119 118¾-119
Cecllian Branch .. . ... ?' 108 -109¾ 109 -109
N. o. & Mob-lst . . •. . 6 1116¾-117 117 -118
. . . . - . . . . . . . . - . . . . .. .. - . .. . 89¼- 92 89¾- 90 88%- 90 84 - 89 85 - 88¼ 88 - 90 86 _ 89'1(
118¼-119¾ 115¾-116¾ 116 -116¾ 116 -116% 116¾-116!14'. 115¾-116% 115 -116% 112¾ 113¾ 111¾-113¼ 11(%,.Ut
105¾-106 .... - ... . 109¾-109¾ 106 -106 . . •. - .. .. 110 -110
... - ... . 102 -1~ .... - .......
118 -118¾ 117¾-118¼ 120 -121½ 120¾-121¾ 118 -118½ .. . . - .... 117 -117 116 -117 116 -117¾ 11• -117¾
~d •• • ••• • ••• ••• ••••• • ••• •6106 -108¾109 -110¾ 109¾-109¾ .... - .... / . . .. - ....... . - . . . . . . - . . . . ... - . .. .... - ... ... - .•. . 107 ·107 ··..
~. H. & Nn.ah.- lst ... 6 113 -114 113¾-114¼ 114¾-114¾ 114¾-114¾ 116 -116¾ 113¾-113:½ ... - •... 116 -115¼ 113 -113 113 -114 113 -114 •109 -110
General mort . . . ... .. . . 6 113 -114 113¾-115¼ 115¾-115¾ 115¼-115¾ 115¾-116¾ 115¾-115¾ 116 -116 110 -110 114¼-114¼ 113 -114½ 113 -114!)i 110 -lli
Pensacola Div •. . .. .. . ti 108 -110 108¾-110 107½-109 .. .. - . . ...... - . . ... .. . - .. .. .. .. - . ....... - .. ...... - ........ - . .. . .. - .. . . 102 -100
St. Louis Div., lat ... 6 .. . . - .... .... - .... 117¼ 118 .... - ..... . .. - .. . ..... - .. ...... - •.. . . ... - . .... .. - .....•.. - . .. .. .. - • ... .. .. - .. ..
~d, 1980 . .... . . . . ... . .. . 3 .... .. .. - .. . . ... - ....... . - . . .. 68 - 68 .... - ••..••• • - • .. . • .• - •••.• •• • - • ••. . . . - .. . . .... - ........ - •.••
Na■h. & Decatur... ... ') 118%-119½ . . . . - .... 118¾-119
.... - .... 119 -119 119¾-120 116¼-116¼ .• . • - . ... 117 -117 117 -117 .... - ....... - ... .
So. & No. Ala., 11. f'... 6 .... - . .. . .. - ........ - . ... . ... - ..... . .. - ........ - . . ... ... - . . .... . . - . .. . . ... - .... 101 -101 .... - ....... - .. ..
Ten-Fortv, 19~4 . .. . . 6 105 -105
.. - ... . .... - .. .. . .. - . . . . .. - .... . ... - • . . . . . . - ... . 104 -104 .. .. - . . . . .. . - .. . 100 -100 .... - ... .
Pensn.c, & Atl.- bt . . 6 106:Ji-110 107 -110 107 -109¼ 108 -110 108¾-109 109¾-109½ 109¾-109¾ 106 -106¾ . ... - .... 103 -105 100 -100 101 -103~
:rn.yr, irold, 193'7 .. . . ~ 105¾-106 .... - ........ - ........ - .. .. 108 -109 109 -109¾ 108 -109¼ 108 -108¾ 109 -109¾ 108¾ 108¾ . . . - .... 106 -105
Col, trust, ir,, 1931 . . . :i 104¾-108 106 -110 107!1{-109¾ 107 -108¾ 105½-106 104½-100 105¼ 105¼ . .. . - .. .. .. - .. .. 103¼•105 101¾-102 .... - ....
Na ■h,Fl,&S.,lat,iru.~ 102 -104 102 -102½ 102¾-102¼ 102 -102¾ 103 -lOJ 103 -103¾ 103 -104 100 -101¼ . ... - ... 101 -101¼ 100 -100¾ 98 -100
So.&No . .Ala..,con,iru.~ .. .. - . .... . .. - ....... . - ........ - ........ - ... 107!',(-107¾ 107%-108 .... - ........ - ..... . .. - ........ - •. •..... _ ... •
Lou. N. Alb. & C,- lst.6 114¾-116 116 -119 115 -117¼ 116 -115 117¾-118½ ... - •... .. .. - .. . . 111 -112¾ 111 -113!1,! 111 -111¼ 110 -113 100 -109
Con., irold, 1916.. .. . . ti 103 -105 103 -104
98 -104¼ 96!'(-100¾ 100 -102¾ 100¼-103¾ 103¾-105 l02½-104¼ 101¾-104 •08¼-101
90 - 99
sg - 95
General, fl,, 194 0 . ... :i .... - .. ... . .. - .... . . .. - ....... . .. .. - . . . . . .. - ....... . - .... . . - . .... .. - ... 88¾- 90¾ *90¼- 90¾ .... - ... .
Lout ■ • N.O.&T.- lat .4 00 - 90
90 - 90
89 - 80 .... - .. . 90 - 90
90 - 90
89¾- 90
90¼- 91½ 89¼- 90¼ 89¼- 80¼ 89 - 89¼ 89 - 90
!ld mort,. 193,i ... ... .. ~ 40 - 40
. .. - .... .. .. - ... ..... _ ........ _ . ...... _ ... . .... - . ... . . . _ ........ _
.... _ ........ _ ... . .... _ ... .
L,St,L,&T.-lst,fl,'17,(i 100¾-101 97¼- 98¼ 97¼- 99 97¼- 98¼ 97¾- 98 98 -101¾ 101¼·104 *99 -101
99¼-lOOh, 09½-100¾ 80 -100
73~- 80
Lou, So.-lst, ir,,'17 .. . 6 102 -104¾ 101 -104½ 92 - 99 .. . . - .. .. 85 - 85½ 85 - 88½ 86 - 90 85
90
Mem,& Chaa,-Gold .. •ti 104 -104½ 105¾-105¼ ... - ........ - .... 105 -105 107 -107 106 -105 103 =103
=1◊5i~ iM¾-104% io2·¼=1◊2¾ io1· =1~~
lat con. Tenn, lien ... 7 .. .. • ...... . - . ....... - ....
- .... ... - . ....... - .... . ... - .. . .... . - ... . .... - .... •... - •·· 120 -120 123 -123
Metropolitan El,- lst .. 6 112 -113 112¼-113½ 112½-114¾ 114%-116½ 115¼-117 116 -117 •113¾-14½ 112¾-113¼ 112 -113½ 113 -114 112 -114½ 112¾-11~
2d, 1899 . .... .... .. ... . . 6 106 -108½ 105%-108¼ 106 -108½ 108 -110 106 -1077<£ 106!,,(-107¾ 107½-108½ 107 - 107¾ 106 -108 107 -107 100 -103¾ 100 -1°'
Mex.Cen.- New a asen .4 70¾- 70¾ .... - ........ - .... . . - .... ... . - ........ - .... .. .. - .... ... - . ... .... - . ....... - .... . ... - ........ _ .. ..
Consol., 1911 . . .. . ... . . 4 .... - ........ - ........ - .. . 74%- 74% 75¾- 76 78 - 78 .... - ........ - ........ - ... . .... - ........ - ........ - .. ..
l•t con. Inc., 1939 .. . 4 .... - ........ - ..... . .. - . . . . 39 - 39 . ... - ... .. .. - ... ... .. - ..... . .. - . .. . .... - . .. . .... - . . .. . ... - ........ - . . •.
2d con. Inc., 1939 .. .. 3 .... - ........ - . . .. 21¼- 21¼ .... - ....... - .... . ... - ........ - ........ - ....... - ........ - ........ - ........ - .. .
Mex. Nat,- lst, 19~'7... 6 96 - 96 . •.• - ........ - .... 95 - 95 95 - 95½ 92¼- 92¾ 92¾- 92¼ ... - ... 87 - 87 .. . . - .... 91¼- 91½ 88 - &I
2dlncome "A" . ....... 6 57 - 57¾ 57 - 57~ 51 - 51 51¼· 51¾ 50 - 52 52 - 52¾ .... - ........ - ... . ... - .••. 40¾- 45 .... - ... . .. .. - ... .
2d Income "B" ....... . 6 .. . . - . .. . 17 - 17 11 - 11 .... - .. . . 12 - 15
... - .... .... - ........ - . . .. . . . - . .. . 10 - 10 .... - .. . . .... - .. ..
l.lllcb. Cent-lat,con11ol .?' 126 -128 127 -128 127 -127¾ 127½-129 125- 126¼ 125½-127 125%-126 126 -126¾ L25½-126 125 -126¼ 121¼-123 120½-122½
l•t, con ■ ol .... . . .... .. .. ~ 111 e-111 111 -111 lll¾-111¼ 111½-lll¼ 110 -110 110 -110 108 -108 109 -109 !09½ -109½ 110 -110 107 -107 104½-104¾
1909 . ....... .... ........ .6 .... - ........ - ... . .... - ........ - ....... - ... 120 -126¾ .... - . .. .. . . - .. . . . . - . .... . .. - ........ - . . . .. .. - ... .
Coupon, 1931 . .... . .. .. :i .... - . . ... ... - ... 115 -116½ 116 -116 .. . . - ... . .... - .. .. ... . - ....... - .. .. ll6¼-116½ 115¾-115¾ .... - .... 110 -113¾
Reirl•tered, 1931. .. .. :i . . .. - .... 116 -116 115¾-116 .... - ........ - ....... . - ........ - . .. . .. ..
.. . ..... - .... 115½-116¾ . . .. - ........ - .. . .
Morta-aae, 1940 ...... 4 .... - ..... . .. - .. ...... - . . ...... - ........ - .... 102 -102 .... - .. .. . .. - . .. . . .. - .... . ... - .... 102 -102 .... - ... .
Jack,L,&Safl.1891.61 .... - . ... 104¾-104½ .. .. - ..• 101½-101½ ... . - ........ - .... .. - .... .... - ....... - .... 101¾-101¾ . ... - •. . 102 -102
Mil, L, Sb. &W.-lst .. 6 123 -123¾ 121 -121¾ 122 -122½ 122\14-125 120 -122½ 119½-122 121½-122¼ 120½-122½ L21 -122 120 -121¼ 116!',(-119½ 116¼-118¼
Conv. deb, 1907.... .. ~ 101¾-104¾ 102¾-102½ .. .. - .... 100%-100¼ 103¾-103¾ 103¾-103¾ .... - .... *101½-02½ 100%-101¾ .... - .... 101¼-101¼ .... - ... .
Ext. & Imp., 11. • . .. . . .. :i 101 -105¼ 102 -103¾ 101¼-102 101¼-103¼ 103 -104 102¼-105 103!1{-105 .... - .... .. . - ... . 100 -101 100 -101¼ 97¾- 99¾
Income ... ... .. ....... ... 6 .... - ........ - .... 102 -104 103¼-106
... - ... . 100 -100 101¼-101½
- .. . . . .. - . .. 101 -103 .... - .... . ... - . . ..
Mlchiflan Div., lat ... 6 115¾-110 116¼-117 116 -116 116¼-118 119 -119 .... - .... 114 -114 .. .. - .... .... - .... 117 -117 112 -116¾ 117 -117
Aabland Div., lat .... 6 .... - .... 120 -120 . ... - .... 114½-114½ .... - .... 117¼-119 119!1{-120
... - .. . . ... - .. .. . .. - .... . ... - .... .... - .. ..
MH. & No.-lat, 1910 ,6 110¼-111¼ 110¾-111¼ 111 -111½ 111 -111¼ lll¼-113½ 109¼-110¾ 110½-111)4111 -111¾ lll½-111½ 111 - 111 110 -111¾ 105¼-107➔,!
lat, on exten., 1913 . . 6 10$¾-109 108¼-100½ 109½-110¼ 110¾-111 lll¾-113¾ 109>!)-110 Jlll -11~ 111¾-111½ 108½-112 11'> -110½ 109 -110 106 -10?¾
Mlnneap,& St.L.- lst . ') .... .. . . - .... 106 -106
... - . . . . .. .. - ........ - .... 105 -lOo 103 -183 .. .. - ... . 103 -106 101 -104¼ 100 -104¾
Iowa Extenalon .. . ... , .. . . - .. . . 88 - 88 00 - 90 . . . . - .. . . 98 -100 .. . . - ••• . . . . - .. .. 90 - 90 90½- 00½ 90 - 92 90 - 92 90 - 90
~d mort., 1891 .. .. .... .,, .. .. - ........ - .. .. .. . - .. .. 53 - 57 60 - 61 58 - 58 .... - .. . . 50 - 59 50 - 50 .... - ........ - . . .. .. • - . .. .
Bouthw'at .Ext,- lst. '7 ... - . .. . 73 - 73 74%- 74% 83 - 83 .... - ... . .... - ........ - ...... .. - • .. . ... - •• .. • .. 73 - 73 • ... - . . . .
Pacific Ext., lst .. .. .. . 6 .... - .. . . . ... - ... . .. - .... 89 .::- 89 .... - ........ - .. .. .... - ........ - . ... .... - ... . .. - · •·· .... - .... • .. • - ... .
Imp. & equip,, 192 2 .6 64 - 64 .... - .... . .. , - ........ - .... 02½- 62½ . ... - ..... . . . - ........ - ... . ... - ... . 57½- 58 ... . - ....... - .. ..
lllnn,S.S,M.&At,lat.:i .... - ........ - ........ - .... 94 - 94 . ... - ........ - ........ - ........ - ........ - .. ..
- ........ - ... . .. · . - .. ..
Mo, Pac.-latconaol . .. 6 109%-111 111 -111 111 -112½ 111¾-113 109 -110 109¼-110% 110¼-110¼ .... - .... 110¾-111 109 -110 105 -107¼ 103¾-105
3d, 1906 . . . ... .. . . . .. . .. '7 114½-115 115 -115 .... - .... 120 -120 116½-120 116 -116¾ 114¾-115 114 -115 113 -115 lliJJ,s-116 tlll -113¼ 111 -114.¾
Trust flOld, 191'7 ..... ~ 99¼- 09½ 09¾-100!4 ·- · · - ........ - .... 97½ 100½ .... - .... 95½- 95¼ .... - . ...... - . ... 79 - 79¾ 91¾- 01¾ 91¾- 91¾
Pu.c. o• Mo,-lst, ext.. 4 98¾-101½ 99 - 99% 08¾- 90 09 - 99¾ 99¾-100 99¼- Q9% 99)4-100 95 - 06
96¼- 98
06%- 0'71/4 97 - 08
96 - 96
2d, 1891 ...... . ... . .. . ?' 101¼-102 102¾-102¼ 102!1{-103 102¾-103 102¼-102¼ 102½-103 100 -101 100½-101¾ . . . - .... 101½-101½ 101¼-101½ . . . . - .. . .
io5
M~i-~::;~?::·.~~:: ;;~= ;~½ ;: =~;¾ ·73½= 76.. ·7~¼= soi4 ·;,9¾= 88¾ ·ss =ss·
·84½= sti~ ·si· =sa· ·so· =s! .. ·7;; =siiho¼= 79½.... = ::::
Gen.conaol,1920 ... . :i 61½-66¾ 63 -67½ .... - .... .. .. - ........ ... - ... . .... - ........ - ........ - •• ..... - . ....... - ... ..... - ... .
Trust receipts ... . ... :i 63 - 64¾ 65 - 66 64 - 65½ 63½- 70
69¾- 76
74 - 76½ 73 - 78¾ 70 - 72 , 70 - 72
60 - 70 .... - .... • .. . - .. .
Consol., 1904 -~-6 ... . '7 110¾-113½ 112:%-114 113¼-115 115 - 116
.. - .. .. ... - ... . ... - ....... . - ........ - . . . . . . . - ... . .. - ........ - .. ..
lat, irold, 19 9 0 ........ 4 .. .. - ........ ~ .. . ... - ........ - ..... .. - .... .. .. - ........ - .... .. - .. .. . - .... 77¼- 7~ 71½- 78¼ *70 - 75
2d, Income , 1990 .. .. . 4 .... - ....
- . . . . .. - ........ - ... . .... - ....... . - .. . . . . - ....... - ........ - . . . . 4S¼- 46¾ 33 - 45)4 84 - 40
Moblle & Ohio- New . . 6 116!1{-116 116 -116½ . . . - .... 116¼-117 115½-116½ 113½-114 113 -115 112¼-116 .... - .... 115 -116 113 -118½ 109¾-111½
1st, exten,, 192'7 .... . . 6 . .. - .... .... - .... 113 -113 ... .
.. . 113 -113 .... - .. . . 110¼-110¼ .... - ........ - . .. ..... - .... H·9 - 109 108 -108
Gen. M,, 1938 ... : ... .. 4 57¾- 65¼ 6t - 65 57½-. 61 57¼- 63¼ 62¼- 63½ 62 - 63
63 - 67
63½- 66 *62 - 67
64 - 67
57 - 65¾ 56 - 62:1:{
1st pref, deben t.... .. . . . 75 - 76
- . .. . 71 - 71
. .. - . . . . .. - . ....... - .. . . .. - . .• . . .. - ........ - ........ - ........ - .. • .... - .. ..
St.L,& Cai ro- Gunr.4 77 - 80¾ 79½- 80 77½- 80H 77 - 80 ... . - . . . . 81½- 81¼ . .. - ........ - ..... . .. - .. .. .. . - ........ - ...... · · - .. ..
Morflan' aL.&T.- l s t .. ti 111 -116 116 -116 .... - .... .. .. - .. .... - . ..
. . - ....... - .... 111 -111 110½ 111 112 -112 +102 -108¾ 107½-112
1st, 1918 . . . . .. . . . ... ... '7 .... - .... . ... - ... .... - .. . ... - ... .... - .... 130 -130 .... - ........ - ...
.. - .... 125½·126 1111 120 119½-120
Mutual Un. T,--S. F .. 6 101 -101 102 -102¼ . . . - . . . 102½-103½ 100 - 100 101 -102~ 102 -103½ 103½-104 104 -105 102 -103½ 100 -102
98 -102
Nashv,C.& St,L.- 1.st. 7 132¼-133 132¼-133 132½-132¾ 132¼-133 132½-138 131¼-132¼ 128 -128½
- .... 128¼-128!),,! 128¾-120½ 127 -129¼ 125 -128
~d, 1901 .. ... . . .. . . . ... . 6 .... - . .. . 113 -113 113 -113 113 -113 113¼-113¼ .... - .. . .
. . 110¼-110½ .. .. - .. . .. .. - ........ - · · .. · ·.. - .. ..
Consol. fl,, 1928 . ... . . ~ 106¾-109 100 -109 108¼-110¼ 107½-107½ 107¼-lll 108 -110)4108 -109½ 1081/2-109 108¾-108½ !05 -106½ 100 -106¼ 106¾-100~
!(. Y. Central-Ext, . . . . . :i 103¼'.-104 104 -104 104 -104¾ 104 -10-1% 101¾-102 101½ -102¼ 102¾ 102% 102 -103 101½-103
l02¼-103 100½-101!4 100~ - 102
N.Y. C,& H.-l ■t,cp .. '7 130 -130¼ 130 -131¼ 131 -131½ 130½-131¼ 130¼-132 130%-131 127¾-127½ 127 -128 126 -129 128 -129 128 -129 128½-129½
lat,l'efl ..... ......... .. 7 .... - .... 129½- 130 129 -130 130 -130 120¾-130¾ 129¾-130 127 -127¾ . . .. - . .. '126½ 128 L28 -128~4128 -128 127 -128
Deb., 1884-1004 .. . :i 111 -111¾ lll¾-112 110 -112 110¾-112 112¾-113½ 112 -112¾ 111 -111 .... - .... 110 -110 .... - . ... 107 -109 107 -108
Deb,refl,,'89-1904.~ 110 -110 .. . • - ...... . . - .... 110 -110
... - ... .... - ........ - . . . ... - . ..
.. - .... .... - . .. 103 -105 .... - .. ..
Harlem-let, coup . ... '7 .. .. - ... .
- .... 126½-127 126¾-128 126 -126 126 -126 125 -125
... - ... 125½-125¼ 126½-126½ 1~3 -123 121 -123
1st, rear ... .. .. . . ... ... '7 125½-127% 1213%-127½ .... - ..... .. . - .. . 124-9(-126¼ . ... - ... . 125¼-125¼ 125¼-126 126 -120½ ... - ... 120 -120 121 -122
N.J.Junc,lst,fluar.4 .... .... - . . .... - . ....... - ...
- ...... . - ... 102½104
... - .. . . . . - ... . 102-102 .... - ........ - .. ..
West Shore, flUar ... 4 104¾-105 101%-105¼ 104¾-105½ 105 -105¾ 105 -106¼ 106 -106¾ 103½-104¾ 103 - 10¼ 103¾-104 102%-101 100 -103¾ 99½-102¼
1
Reirlstered .. . . .... .... 4 1041,(-105 105 -105¾ 10¼¾-105½ 105¼-105% 105 -106 *104¾-067,( 103½-10-1¾ 102¼ 104.¼ 103% -104 102¾-103¼ 1~-103~ 97¼-102
N. Y.Chic. & St.L.- ht.4 03¼· 97 9'1 - 97 05 - 96¾ 94 - 95 93 . 9!¼ 93 - 05¼1 93~- 91% 92 - 94 93 - 94¾ *90¾- 92¼ 89 - 91¾ ! 88¼- 90)4
Reiri s tered .. ... ..... .. .4 93~- 94 .. ..
.. .. - ... 95 - 05 . i)3½- 9:>½ .... - ... I .. - ... .. ... - ....
87 - 87 .... - .. .. ,.... - •···
N. Y, Elevated-lst .. ... '7 114 -116 114 -114½ 113 -114½ 114½-115 115 - 116 116 - 117½ 112½-113¾ 112¼-113 112 -113¼ 112 -112½ lll -112½ 112 · -115¼
:~;'.,l?.c:~·;::::: i ~ :,;;: ::: : :
::: ::,:_:: : ::::,;~)<=~~ ·:::
23
~11:0:jl:1::o: \11:0:: ... ·. ·. ·. - ·.·. ·.·. 1··1·0· ~11·0··· ·.·.·. ·. : ·.·.·.
N.Y. & North.- lst, If . ~ . .. . - • ... .. . .
• ... 112 -112 .... - . ... 111 -111¾ 110
,.,,
2d, a-old, 1927 . ... .. . .. 4 .... - . . .. 52 - 50
52 - 57½ 57 - 58¼ 58 - 63½ . ... - .. . . 60 - GO
N.Y.On.&W.-lst, a-.. 6 112 -113¼ 112¾-113¾ 110%-111¾ 111 -111½ 111 -112 112 -112½ 112%-112¾
Con&ol. 1st, 1939 .. . 5 97 - 98 96½- 97½ 96 - 97¼ 96%- 97;!4 98)4-101
97 - 08½ 07 - 98
N. Y. S.&W.-Refund .. :i 97¾- 99 97½- 99 97 - 07½ 96½-100 100 -101 L00¾-101¾ 96½- 99
:ldmort,,1937 . . . .. 4 ¼ . .. . - .... 73-74 .... - . .. . 7::l-73
77-79
78½-78%78 - 78
Midl'd of N. J., ll!ft .. . 6 115 -116½ 116:1:{-116!14 110 -117 113 -lU 114¼-115:):. 114¼-116¾ 115½-116
11
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Federal Reserve Bank of St. Louis
. .. .
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97
97
.. .
116
- ........ - ........ - .. .
-112¾ 110¼-110¾ lll¼-111¼
- 97¼ 95½- 97
94½- 96
- 09
97 - 98¼ 98¾·100
- . . .....
-115\k( na -116 112 -112
l. . . .
r.~.--.-t: \ :
40 - 50
110 -111
90 - 9!¼
99¼-100
-·•··I···· - ··· -....
110 -113
42
l09
89
90
1.. ..
· .. ·
- 45
-111
- 92¾
- 96
-
••••
110 - 112
RAILBOA.D
82
BONDS.
1890 - Continued.
BONDS.
JANUARY F EBR' RY.
MA.ROH.
~
MAY.
JUNE. ·
JULY.
A U GUST. ISEPT'BER. O OT0BE R . N0V' BER: ~ O'B ~
_ _ _ _ _ _ _ _ _ _ _ Low.HIJth Low. High Low .High Low.High Low.High Low.High Low.High Low .High Low .High Low .H igh Low.Hig:h Low .High
No-rt. & W est.- Gen'l .6 118¾·120 120 -120 . ... - .. . . .. .. - ... . 118½-119 118½-121 119 -120 119 -120 119 -121¼ 119½ 119½ 117 -117 117¼ -117½
100 yr. mor t., 1990.:i .... - .. . 95¼- 96 95¾- 96¾ 96¼ - 97½ 97 - 98 97¼- 00¼ ~6½- 96¾ 96½- 969( 95¾- 97¼ 94 - 97 95 - 96¼ 93 - 95
New River-1st . . ..... 6 .... - .... 117½-117½ 117 -117 113½-115 116 -117 .... - ... . .. . . - .... . . . . - .... 114 -114 110½-111 .. . . - . .. . 111¾-112½
Ad.just. mort., 1924.'7 .
- .... . . . - ........ - ........ - .. . . . .. - .. ... . . . - .... ... . - . . .. . .. - ...... . . - . .. . . . .. - ... 107¾ 107¾ .... - ... .
Clinch Val., 1st & eq.~ 98 • 100 99½-102 99½-101 100¼-100½ 97¾-100 99 -100¼ 99 -100 99¾- 99¾ .... - .... .. .. - . . .. 93 - 95 94 - 08
No.Pac.- Gen.1s t, I. g .. 6 113¾-114½ 114¼-115¼ 114:)a-115¾ 115½-116½ 116½-118 117½-119 *115-116½1115¼-115½ 115½-116¾ 116 -116¾ 113½-115 114 -115~
Gen.1st, I. arr., reg ... 6 112 -114 14 114¼-115¼ 114¾-115½ 115 -116½ 116%-117¾ 118 -118 115 -115¼ 115 -115 ... . - . . . . 115 -116 113½-113 112 -114
Gen., I. gr., 2d, 1933 6 112¾ ·113¾ 113½-114½ 112 -113¾ 110¾-111¾ 111¼-114 112¼-113½ 113¾-115 114 -116 113 -114 111 -112 107 -111~ 108¾ 115
Gen.2dld.gr.,re a . . 6 .. .. - . ... 114 - 114 111 -111 .... - .. ... . .. - .. .. .. .. - .... .. .. - .... .. .. - .. .. .... . .. . .. . .. - ........ - .... .... _ ... .
Gen., a-old, 3d, 193'7.6 109¼-111 109½-110½ 109~·110½ 110¾-111¾ 112¾-113½ 109½-110½ 109)4-111 111¼-111¾ 109 -110½ 109 -110 106 -109¾ 103¼-105¾
Consol., 1989 ... . ..... :i . . .. - . . . ... . . - ........ - . . . . . ... - .... .... - .... . ... - .. . . . . .. - . .. . 92½ - 94 88 - 93
85 - 89¾ 77½- 87~ 77 - 82
Dividend sc1•ip, Ext.. . . 103 -103 105 -108 .. .. - ... . 107½ 107½ .. .. - .. . . . .. - .. .. .. .. - .. . . 108 -108 107½-107½ . .. . - ... . 105 - 105 . . . . - ... .
St. Paul & No. Pac .. . 6 121½-121½ 118 -119½ 118 -118 121 -121½ 120 -121¾ 122 - 122½ 125 - 125½ ... . - . ... 121 -121½ 121¼-122 . .. . - .... .... - ... .
Registere d. .... .. . . .. . .. .. - ... . 119½-119½ 115½-115¼ .. •• - .. . . .. . • - .. . . .. .. - . . . . .. .. - . .. . . . .. - .. . . . . . . • .. . . .. .. _ .. . . .. . . - • • .. . . . . - ... .
JamesR.Val., 1936.6 .. .. - .. .. .... - ........ - .. ...... - ........ - . .. 106¾-106¾ 104 -104½ .. .. - .. .. .... - . . . . .... - ... . .. - .. ...... - ... .
Hel.&Red M t., 1st .. 6 .... - .. . .. . - ....... . - .. .. 00 -101 lOO!)s-104 101 -103½ 105 -105 .... - .. .. 104 -104¼ .... - .... 106 - 106 101 · 101
Spokane & Pal. s. f .. 6 106 -106½ . . . . - ........ - .... 1073,i-107½ 103½-106½ .... - .... 108 - 108 .... - .... 109 - 109 109 -109¼ . ... - .. . 100 - 100
Dul. & lltan., 1st ..... 6 107 -108 106 -107½ ... . - .... 101 -109!!4108¾-110 110 -110 107½-108 107½-107½ 107½-107½ 107½-107½ 105 -105 105 - 106
Do. Dak. Div., 1 s t .6 106 -100 106 -106 107½-107¼ 108 -108¼ 108¼-108¾ 106 -106½ 107 - 107 106¼-107 108 -108 104 -108 102½-102½ GO -101
No. Pac.Ter.Co .• l st. 6 106 -107¾ 107 -109 108 -109 110 -112¼ 112 -ll3 112 -112 109 - 109½ 109½-111 108 -110 108 -108½ 106 - 108¾ lil6 -108
Coeur de' Al.,Gn. lst .6 106 -107¾ 108 -108 .... - .. .. .. . - ... ... .. ... ... - .. .. . ... - .... 108 - 108 106 -106 106%-106% .... - .. .. 105 - 100
1 st, gold, 1916 .. ... . . . 6 .... - . .. .. . . . - ... . .. . . - .... .. .. - . . . . ... - . .. . .... - ........ - ...... . . - .... . . .. - .... . .. . - ...... . . - .. . . 108½-108¾
N. P. & Mon., 1st, g ..6 105 -107 106¾-108¼ .... - .... 106%-110½ 110 -110½ 109¼ -110¼ *109 -109½ 109 - 110 106¾- 107¼ 104 -106 99 -104¾ 99 - 102½
Cent. Wash., 1st, g .. . 6 . ... - . ... 106½-106½ 105 - 105½ 105 -106 104½-1013½ ... . - .... .... - .. .. - ... - . . .. .• - . ....... - .... . ... ...... - . . . .
O.ln.&W.- T.re c,lst.5 82¼- &.l 83 - Si¼ 83 - &.l 82 - 84 82¾- &.l 83 - 85¾ .... - ... ... . . - . . . .. . - ........ - .. .. .... - .... . . .. - .. ..
2d mort., 1938 . . .. . ... ~ 63¾- 64¾ 64½- 65
62¾- 55
62½- 55
65 - 58
57 - 60½ .... - . . .. . .. . - .. ..... - ... . .... - .... .... - ........ - .. ..
1ml. B. & W., 1 st,pf. 7 . . . - .. .. 117¾-117½ 117½-117¾ 118½-118½ . . . . - ...... . - . . . . 115¼-115¼ . ... - ... . .... - .. . 116 -117½ 117 - 117 ...• ..:. .. ..
Oh. & M.- Cons. s. f . ... , 114%-114¾ 114%-115½ 115¼-115½ 115¼-110 116 -116½ 116½-117 113½-113¾ 113½-114 114½-114½ 114 -115 tl13 -114½ 113 - 114½
Consol., 1898 . .... ..... ,- 115 -115 114%-115 114¼-115¾ 115 -115¾ 115¾-116 116 -117 113¼-113¾ 114 -114 114½-114½ 114 -114 .... - .... 113 -114½
2d, cons ol., 1911 .. . .. , 122½-123 122 -122 122½-125 121½-122 122 -124 122¾-123½ 123 -123 123¼-123½ . .. . - •. .. 118 -118 .... - . ... 119¾-119¾
1 st, Sprlnaf. Div . ... .. ,,. 111 -112 . . .. - .. .. . . .. - . .. . 115 -116½ 113 -113 . . . . - .. . . • • . - .... 114 -114 116 - 115 . . .. .. .. - • . . . .. .. - ... .
Ohio R ive1· R R.-lst . .:i .... - .. .. .... - ....... . - .... 100 -101
.. . - .... 100 -100 .... .. .. .. - ... .. .. . - .... 100 - 100 100 -100 .... - .. .•
Gen e1·n l, 1931 . .. . .... ~ .... - ... .. . .. - .... 92½- 92½ . ... - .. . . . .. - .. .. . ... - . . .. 91 - 91½ ... - ... 91 - 91 . . .. .... - . . .. . ... - .. . .
Ohio Southern- 1st .. .. 6 108 -109¾ 108 -108 109½-110 109 -109½ 109 -111¾ 106½-107½ 107 -108 107 - 107 104 -106½ 104 - 105 .. 100 -104½ *101 -102
2d, i n come.... . . ... .. . 6 55 - 55 52 - 54
45 - 5<·¾ 49 - 55
55 - 61 .. .. - .. . . . . .. - .. . . .. . . - .. .. . . . . - .. . . . . .. - .. . ... •. - .. .. . . . . - ....
Ge n. , · g old. 1 J'l,1 ..... 4 . . . .
. . . . .. . - . . . . 63 - 63 59 - 64
62 - 68
66½- 67½ 66¾- 67¾ 63½ - 66¼ 60 - 66¼ 64 - 06
40 - 63
49½- 56
Omaha & S t. L.- lst .. 4 73¼- 75½ 75¼- 76½ 76 - 16½ 76¼- 77
76¼- 77½ 77½- 80
78 - 79½ 71 - 75
71¼- 72
71 - 72
.. . - .. . . . . .. - . ..
Or. R' y. & Nav.-lst . .. 6 110½-ll3 109 -112 109½-110½ 109%-110 110½-110¾ 110½-111¾ 109 -110 109½-110½ 109½-110½ 108 -109½ 107 -109¼ 106 -110
Consol., 1925 .... ..... ~ 1027,(-103),,( 103¾-104 103 -103¾ 101¾-103¾ 103½-104 101 -101¾ 100½-101¾ 100¼-100¾ 99 - 100
98 - 99
94¾- 98
92¼- 92¼
Oreg. Imp. Co.- lst . ... 6 101½-104 103 -103¾ 103 -104~ 104 -105 105 -106 *102¾-104 102¾-104 103 -103¾ 102¼-104 102¾-104
79 - 102)4 79 - 90
Cons ol., a-old, 1 9 30 .. ~ . . . . - ... . ... . - . . . . . .. - .... 92¼- 93¼ 93¾- 94¾ 94½- 94½ ...• - ... ... .. - . .. . 93 - 94
90½ - 90½ • .. . - ..... ... - .. ..
Oregon Trans.- lst . . . . 6 103¾-106 105 -106¼ 106 -107¼ 107 -107¾ 104%-105¾ 105)4-106 105¾- 106¾ 106¼-106½ 100½-107¼ 107¼-107¼ • ... - ... . 106 -106
Penn. Co.- 1 s t, cp .. . . .4 ½ 108¾-109¼ 109 -109½ 109¼-110¼ 109½-110¼ 109 -110 109 -100¾ 107 -107 107 - 107¾ 106 - 107 105¾-107¼ 105 - 107 105¾,-107¼
Regl8tered . . .. ... .. 4 ½ 106¾-107 . ... - .... 110¼-110¼ .... - . .. ... .. - .. . . 109 -110 106¾-106¾ .... - .... 106 -106½ 106½-107 /107 -107 104 - 105
Pltts.C .& St.L.- lst '7 109 -109 .. . . - . . . .. .. - .. ...... - . .. . . .. - . . ... . . . - . . . . .... - .. .. .. .. - .. ... . .. - ... . . .. - ... . . ... - .. . . . . . . - . . ..
Pltts.Ft.W.&C.- lst.? 143 -145 144¾-144¾ 143),(-144¾ 145 - 145 .... - ... . 145¼-145¼ 142½-142½ 142½-142¾ 143 - 143 143½-143¾ .... - .. .. ... . 2d., 1912 .. .... . . . . . , 141 -142 142 -143½ 138¼-138¼ 143¼-143¾ .. .. - .... 1447,(-144¼ .. .. - .... 141¼-141¼ 141¾-143 143 - H3 143 -143 132 - 132
3d., 1912 . . ...... ... .. 7 .... - · ... ..... - .. .. .... - ...... . . - .... 138 -141 ... . - .. . . .. •. - . ..... .. - .... 135½-135½ . .. . - .. . . 132 -133½ 134 -134
Clev.& P.-Cons.s.fd.? 126 -126 .... - .. . . 128½-128½ 128½-128½ 125½-125½ 126½-126½ 126½-127 .... - .... 127 -127 127 -127 124 -127½ 120 - 123
4-th, umz ...... .......6 10s -10s~ 1os¼ -10S½ 104 -104¼ . . . . - .. .. 104¼ -104¾ 104¾-105 102 - 102 101:1(-102 ... . - ... .. . . . - . .. . 102 .102 103 -10s
St. L. V .& T. H.- lst .? 115 - 116
.. . - ... . 113½-114 113½-115¾ 115½-116½ . .. . - .. .. 112%-112¾ . . . . - .. . . .. •. - .... 112¾-112¾ 110½-112¼ 112¼-112¼
St.L.V.&T.H. ,Zd,'98110¼-110½ ... - ..... ... - ........ - .. .. 109 -109 ...• - ..... . .. - ........ .... - ••. . ..
. .. ..... - ... . ... . - ... .
2d, guar., 1898.. ... '7 . .. . - .. .. .. .. - ........ - ... . . . . - ... . 109 -109 .. . . - .... .. .. - .. . . 110 -110 .... - ........ - .... . ... - .. . . . ... - . . . .
Peopleli'G4•C.,Chi.2d 6 97½- 97½ 86 - 86¾ .•. - ..... . .. - . .. ... .. - . . . . 97 - 97½ 97 - 97 .... - ........ - .. . . .. . . - . .. . .. ·· - . · · .. .. - . . ..
Peo. Dec.& Evan.- l8t.6 101 - 103½ . . .. - . .. . 104 -104 105 -109 106 -100 106¼ -107¼ 103½-103½ .... - ... . ... . - .. . . 103 -104 102 -102 .... - . . . •
2d, 1926 .... .......... . ~ 69 - 72¼ 69¼- 70 66 - 72
70 - 73
72¾- 74
69½- 70
- . . . 67½- 69¼ 68 - 68½ 67 - 69
60 - 66
57½- 61
Evan11v. Div., tst .. . . . 6 101¼ -103 105 -106 100 -102 102 -105 104 - 105 104 -106 105 -105 101 -101¾ 100 -100 100 - 100
95 - 95
Peoria & Eas., 1st con.4 .... - . ... .... - .. .. ... . - ........ - ...... .. - .. .. 82¾ 85
82½- 83¾ 78½- 82
79 - 81½ 78 - 80
73¾- 79
72 - 76
Income, 1990 ......... 4 ... . - .. . .. .. - . . .. .... - .. .. . . . . - .. . . . ... - ..
33 - 34½ 30 - 32:)4 28 - 31½ 22 - 27
22½- 25
18 - 22½ 17 - 18
Peorla&P ek.Un.- lst.6 115 -115 .... - ... . .... - .... 113¼-113½ .... - . . . . .... - .. ... ... - ... . . .. . - .. .. 110¾-110¾ 112 -112 •· · · - •· ·· . .. . - ... .
2d mort., 1921 .. . .. 4 ½ . . . . - . . . . 66 - 6d
67 - 67
71 - 71
70 - 70 . . . . - . . . . . . - . . . . . . . - . . . . 70 - 70
70 - 70 • • • • - • • • • . . . . - . .. .
Phlla. & Read.- Gen.4 85 - 87 &.l¾- 86¾ 80¼- 85 &.l - 85¾ &.l½- 85¾ &.l¾- 86½ *83 - 83¾ 80 - 83 79¾- 82½ 80¾- 82¼ 75 - 82
75½- 80¼
1st pr ef. Inc., 19:i8 . .:i 68 - 80½ 65 - 70¾ 62 - 67¾ 66 - 71½ 71 - 75¼ 72 - 'l4¾ 72¾- 74
69%- 72% 66¼- 70
62 - 67¾ 52½- 63
50 - 58
~d pref. tnc., 19~8 .. .. ~ 48 - 54¾ 46 - 60% 43½- 48¾ 47¼- 53¾ 52%- 58½ 55½- 58¾ 55½- 58½ 51)4- 55¼ 47 - 62 42 - 47¼ 36 - 44
29¾- 87½
3d pre f. i nc., 1058 . ... ~ 40½- 49 38 - 43½ 36¼- 40 38¼- 43
42¾- 47½ 42½- 47
43½- 46¼ 4.0¾- 43¾ 37 - 41½ 33)4- 37½ 27½- 34¼ 23 - 28~
3d pref. In c., conv .. .. ~ .. .. - ... . 41¼- 46 .... - .... 45 - 46
45 - 48½ 46).4- 46¼ . . . . - .. . . 45 - 45 .... - ... . ... . - .. . . •· .. - • •· • .... - .. .
Defer1·ed lnc o1ne ...... 6 12¼- 12½ .. .. - . . .. . ... - .... . .. . - . . . . 16 - 16 .... - .. . . ... - .. . . . .. - ... ..... - ........ - . . . ... .. - .. ..... . - .. ..
Pitts .CI.& Tol.- l st ... 6 .... - .... . ... - . .. 107 -107 ... . - ... ... .. - .... .. .. - .. ... . .. - . . . . . . . - .. . . . ... - .... .. .. - . . . . .. . - .. . . . . - ... .
Pl t ta.Junc. - l st,1 9 22.6 .... - . . . . .... ... .. - ........ - ... · ··· - ... .. . . . - ..... . .. - ... .. - . . . .... . - ... . 118 -118 .... - . . .. .. .. - . ..
Pltt11.Pn.ln.&F .- 111t ar.~ 98 - 98 .. .. - ... . . . . . - .... 98 - 98 · ··· - . ... 98 - : 98
95 - 97½ 97 - 97½ .. .. - ... . 96½ - 96¼ 97¼- 97½ 95 - 95
Plttsb. & West.- lst . .4 80¾- 82¼ 80 - 81
81 - 82
80½- 82
81¼- 83
81½- 83
79¾- 81
78¼- so
78¼- 79½ 77½- 79¾ 74¼- 78
72 - 75~
P1·es. & A r . C.- lst, g .6 90 - 90
.. - ... . . . . - .. . . ... - . . . · · · - .. . . .... - .. . . . . - .. . . .... - . . . .... - . .. . .. .. - ... . ·· · ·
. . .... .. - . . . .
2d, inc ......... .. .. . . .... 6 45 - 50
40½- 41
40 - 40½ 41 - 41
41 - 41
41 - 41 .... - .. . . ... - ... . .... - .. .. 36¼- 87
87¾- 37¾ ... . - .. ..
R.&All.-1st , D rex. r .1 68½- 70 69)4- 70½ 69¼- 70 . ... - .. .. · •· · - . . ...... - ... . ... . - ... .. ... - . .. . .... - ...... .. - .... •· · · - .. ...... - . . ..
2d mort. D rexel 1·ec . 6 38 - 40 87 - 89¾ 37 - 38¼ 38 - 39½ · ·· • - ...... .. - .... .... - .. .... .. .. .. - . ... .. .. - .. .. .... - • .. · .... - . .. .
Rich. & Dnnv.- -Cons .. 6 115½-117 116 - 117 116 -117¾ 116½-117¼ 117 -118 117¼-118¼ 115¾-116¼ 116 -116¼ 116)4-116¾ 115)4-117 117 - 117 112 - 115
Debentu1·e . . . ...... . . .. 6 99)4-101% 102½-103 103 -105¾ 102 -104 101 -104 105 -105 104¼-105 104¼ 104¼ 105¼ -105½ 102 -102½ 100 -102¼ 90 -100
Con . M., g old, 1 936.:i 88¾- 90½ 90 - 91¾ 90 - 90¾ 87¾- 89¾ 90 - 91% 90¾- 94
92½- 93¼ 90¼- 92
91 - 91¾ 85 - 90
83 - 85¼ &.l - 88
Equi p. s . f. , 1 9 9 ..... :i 88 - 89¾ 89 - 89½ .... - . . ...... - .. .. 90:1(- 90¾ .... - .... .. .. - ••• . 85 - 85 . ... .... - .... . .. . - ... . .... - .. ..
Atl. & Cb. , inc., 190 0 108 -108 107 -107 .. .. - .. ...... - ••• . .. · - · . .. 105)4-105¼ . ... - .... . . .. - .. .. .... - .. . 103 - 103 · ... - .. ...... - . .. .
lst,1 8 9'7 . . ... .. .. .. ?107 -107 .. .. - ... . 108 -108 .•• • - .... 103½-103½ .. . . - .. .. .... - ........ - .. . . ... - .. ... ... _ .. . ... - .. . ..... _ .. . .
Rich.& W est P t . Ter .6 100 -103
99¾-100
98¾- 99¾ 99 -100J4 100¼-101½ 100¾-101½ 101½-101¾ 98 - 99
97 - 98
95¾- 97½ 91 - 07¼ 93½- 97
Con., 1st, col. t. g .. .. . :i 78 - 81
so - 81¾ 77 - so
78¾- 81½ 79 - 83
77¼- 79
77 - 78¼ 76½- 78¼ 72 - 75¾ 68 - 73¾ 59¾- 71¾ 61 - 6~
Rio G.W.- ht, 1939 .. 4 71¾- 73
71 - 72¼ 69%- 72¾ 71¾- 75½ 74¾- 78
76½- 78 *74¼- 75½ 74 - 75¼ 71¾- 75
72 - 74½ 68 - 73!1! 68 - 7~
D.&R.G.W., 1 s t, t.1·ec 98 - 98 . . .. - . . ..... - ... . .... - ... . ... . - . . .. .... - ... .. ... - . . .. .. . - ... ... .. - . . . . . . .. - ........ - •· ·· . . .. - .. ..
Rome W. & Og.-lst ... , 104 - 104 105 -106 105 -106 106 -107 . ... - . . . . 103 - 103 103%-103¾ 103½ 103½ 103 -104 104 -104 103 -103 100 - 106
Con., 1st, extende d .. . /i 110 - 110½ 110¾-112 lll¼-112¾ 107¾-110 108 -110 108½-109½ 109 -110 110 -110½ 110 -111 *107 -108½ 105 -107¾ .... - ... .
St. Jos.&G'd lsl.- h t. 6 104¾-105¾ 105 -105¼ 105 -106¼,106%-107¾ 105½-107 106 -107 .... - .... 107 - 107¾ 104 -104 103 -106¼ 100 -101
97½- 98
2d, income .. . .......... . 5 .. .. - .... 37 - 37 .... - •.. . 40 - 43¾ '13 - 50 48 - 52½ .. . . - . . . . ... - .. ... ... - . ... . ... - ....... . - ... ..... - . .. .
Kan. C. & Om., lst .. 5 85 - 85
81 - 86¼ 80 - 82¼ 82 - 85½ &.l - 94¼ 86 - 89
86 - 88
&.l - 85 ...• - . . .. RZ¾- 82½ .. - . . . . .... - . . ..
St. L. Alt.& T.H .- 1st .,- 110½-110½ 111 - 111 111 - 112 111%-112 . . .. - . .. . 113 -113
... - . . . . .. - . . .... - .. .. . .. . - . ... 1113-2-i12 . ... - .. . .
2d, p1•et . . ... ... ....... .. . '7 111 -111 108 -108¼ 108 -109 109 -109 105¼-108¾ 1013 -108 108½ 109½ 106½ 107¼ 106½-107 106½-107 105¾-107 106½ 106¼
2d, income ............. . , .... - .. ...... - .. .. 106 -106 107 -107¼ 104½-106 106 -106¾ .. . . - . . .. 106 -106 . ...
. .. . 100¼-106½ 100 -100 100½- lOS
Dividend bond,11 ...... . 6 50 - 58¼ 55 - 57
55 - 55
64 - 58½ 58 - 62½ 60 - 60
50 - 50¼ 52 - 53
50 - 52
51 - 52 I 48 - 51 .. .. - ••••
Ch. S t. L .& Pad.,1"t.:i .... - . . . . . . .. - .. .. 99 - 99 101 -101 101)4-101¼ .... - .. .. .. . . - .. . . .. - ... . . . .. - .. . . . . . . - .... 1C2 -102 . ... - .. . .
Belle . & So. 111.- lst.8 117 -117 .. .. - .. .. . .. - ... . .... - . ..... .. - ........ - . . . . 116 - 116 115 - 115 . ... - ... . ... - .... ;us =113 113 - 113
Bell. & Carond.- 1 s t.6 .. .. - ........ - ........ - ... . .. . . - . ..... •• - ........ - ...... . . - ... . . ... - .. . ..... - .... . . . . - . . . . .. . .
. .... - ... .
!dt. L. !So., ts t, a,:uar.. 4 81¼- 82
83 - 85 ·..... .. = ·. ·.·.·.1.·.·.·. = ·. ·.·. ·..... = ·. ·.·. ..
· 5..0. - 5.0. . . . . . - .... &.l 84 . .. .
82 - 82
81½= 81½ 95 -100
,., income, 1 9 31 . . ... ~ ... . - . ... .... • · .. - .. · · · .. ·
· · · · · · ..
.. .. · · · • - ... · .. · ·
· · ...... - · .. ·
8t.L.Ark.&Tex.- 1st.6 90¼- 90½ . . - .. . . 87¾- 88¾ • 87¼- 87½
- .... . . . . - ........ - ..
. .. - . ...... . - ....... . - .. . .. ... - . ....... - ... .
May, 1889, coup. off 88¾- 81 86¾- 89¾ 86½- 88¼, 87¼- 91
94 - 95½ .. .. - . . .. .. - .. . . .. - .. . . .... - ... . ... - ........ - . ....... - ••••
'l'1•ust receipts .... .... . .. .. - .... .. .. - ... . 86½- 88 1• •• • - ••• 90¾- 98¾ 91¾- 94¼ 90!1(- 92 87¾- 90½ 86½- 89½ 86½- 88¾ •75 - 85¾ 70 - 78U
2d, 1936 ... .. ..... . ... 6 24½- 29
24¾- 26½ 23½- 25},i 22¼- 25½ 24½- 24½ .... - .. . . •.
- . ..... . . - . . . . .. . . - .. . . .. . - .... . ...
. . .. .... - ... .
. ...
AM aHesments paid . . ... - .... . ... - ........ - . . .. 1
29 - 32¾ 29 - 31
28 - 28¼ 27 - 28
25¼- 27½ 22 - 25
18 - 22
18 - 1~
t Under the r ule; caiih.
• lb:-intereat.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
H
=
= ...
•
·
-
.. .
.
.
RAILRO.AD
83
BONDS.
1890-Concluded.
JANUARY FEBR'RY.
BONDS.
M.AROH.
I
APRIL .
MAY .
JUNE.
I
JULY.
Auous T. SEPT'BER. OOTOBER. Nov'BER.
DEO'BER.
~ ~ ~ ~ ~ ~ ~o~.Higb L ow.llll!'h Low .Rig; Low.High Low.High ~ow.H~~
St. L.& Iron Mt.- lst .. ,- 106 -108 104 -104¼ 104¾-104¾ 10:l¾--105 104¼-105 105 -105¾ 105¼-106¼ 102 -103 102 -103¼ 103¾-103¾ 102 -103¼ lOZ§s-101¾
!Id, 189,,.. ............ ,- 108¾-109 109 -109¼ 107 ·109¼_108¾ 109¼ 106 -107¾ 108 -109 .... - .... 107 - 108 107¼-108 107¾-100¾ 104 -105¼ 103¼-105
Arkansas Branch .... '7 107¼-107¼?07¾-107¾,107%-107¾ 108½-108½ 108%-108¼ 105},-106 106¼-106¾ 106¼-106¾ . . .. - .... 108¼-108½ 104 - 107 104 -104
Cairo &Fulton-1st.. ,. 100¼-101¾,100¾-101¾ 101 -101¾ 101 -101¾ 102¼-103 102¾-103!>4 100 -100:14: 100%-101 100½-101¾ 1017-(-102 101 -102¾ 1013-.(-102
Cairo Ark. & Texas. '7 102%-105 104¼-104% 105 -105½ 105 -105½ 105½-107 104 104¾ 105 -107 106 - 107 105 -105 105¼-107¾ 105¾-107¾ '.02¾-104
93 - 94% *91 - 92¼ +84¼- 01¼ 87 _ 92
Gen. coDl!lol. & I. tr .... ~ 88 - 00% oo - 91¾ 91 - 92¾ 88 - 90 00¼- 95¾ 03 - 95¼ 94¾- 05¼ 93 - 95
St.L. &S. F.-~d, cl.A .6 112½-113 112¾-112¾ 112½-113 113½-114¾ 115 -115 114¼-lU½ .. .. - ... . .... - ... .. ... - . . .. 112 -1~ 110 -110 110 -111
1
Clal!ll!I B . . ............ .... 6 112½-113¾ 112¼-113)4 112½-113 114 -115 112 -114½ 114¼-114¾ 113¾-114 111 - 112 111¾-111¾ 113 -113 110 - 110~ 110 -111
Cla11■ C .. ............... .. 6 112½-113 112½-112¾ 112¾-113 \113¾- lU½ 112 -113 114 -114½ 114 -114 lll¾-111')4 111 -112 112 -113 +106 -110½ 108 -111%
Equipment ............. '7' .... - ........ - .... 101½-101½ 101½-101½ 101½-101½ 102¼-102¼ 102½-102½ 102 - 102 ... - .. 101¼-101/4 .. _
Genera.I mort ... ....... 6 109¾-112 109¾-110 109¾-110 110¾-112 112 -113 115 -115 111 -111¾ 110¼-110¼ 110 -111 110½-111 105 -111¼ 106 -108¾
95¾- 96
. . .. 98 - 99¼ 95 - 95
97 - 97¾ .. .. - .. . . 98 -100 102!1:(-112¾ . . . . General mort ........ .. I} .. . .... 88½- 88½ .. ..
- .... 80 - 80 ... . 1st, Trust, 198'7' ...... I} .... - . ....... - . . . . ... K.C.&So. W,,lst,'16 .... - .... 93 - 93 .... - .... 105 -105 .. . . Ft.S.&V. B.B.,lst '10 .... - ........ - ....... l!t. Paul &D.-lst .... . :) .... - .... 108¼-109 .... 2d, 1917 . .. ............. I} 103¼-103½ 104¾-105 105 -105½ 103 103 104¾-106 105 -105¾ .... 104 -105 102½-104 102 -102½ ....
f!lt.P.M.&M-l8t1U09 .'7 113 -113 111¾-111¾ 111¼-111½ 111¾-111½ 116½-117 117 -117
115 •-115 . ...
2d mortir., 1909 .. .... 6 119 -119½ 110½-119½ 120½-120¼ 117 -117¾ 117¾-117½ 118 -118 .... - .. .. 118 -118 .... Dakota Extenslon .... 6 118¼-118½ 117% 118 119½-120 120 -120 118 -118 118 -119 119 -120 118 -119 118 -118 118 -118 115¾-117 114 ~115
116¾-117¾ 115 -116 115 -116
-1..7
~.16
119¾-119¾
-119¾
lat, consol., coup .... 6 115¾-120 116 -120 116¾-117½ 118 -118½ 118 -118~.( 118 -120 118
- . . . 101¾-101¼ 100 -100
Reduced to ......... 4¼ 101¾-101¾ 100 -102¼ 101 101½ 101½-101¾ 101¾-102 102¾-102½ 100)4-100¾ 100%-100% ... . 88 - 88¼ 87 - 88 .... 89 - 00
lUootann. Ext., lst ... 4 .... - . .. . 88¼- 89½ 88 - 88½ ... - .... 89½- 91¼ *89 - 92 90 - 91¾ 90 - 91
Montana. Cent., 1st. 6 112 -114 114½-115 .... - .... 116 -116 115 -115½ 118 -118 116 -116 117½-117¼ il.16 -116 116 -116 .... 57½- 63
65 - 68
70¾- 71
70 - 72½ 70½- 75
San A. &Ar.P.,1916 .. 6 85 - 85 87 - 87¾ .... - .. . . 86 - 86¾ 87 - 87¾ 86½- 88½ 71½- 75
59 - 62
69 - 70¾ 65 - 68
70¾- 75
70 - 77¼ 69¼- 72
1926 .............. .... .. . ti 85¾- 87½ 87 - 89 86 - 87 86 - 88 87¼- 88¼ 8"7¼- 90
- ...... .. . . . ..
- . . .. 98 - 98 .... - ....... 8 F.&N.P. lst,1919 .. ~
69½- 73
73¼- 77
79 - 79
80 - 82¾ 79 - 80 .... 82 - 84¼ 83 - 83
S. T. & N .E.,lst,1989.4- .. .. - ....
8hen. Vo.1.- lst, Tr.nc.7 113!1(-116 116 -116 116 -122 122½-124 123 -12-i¾ 124¾-125¾ 125¼-125½ .... - ........ - .... 127 -127 ... _ .... *126¾-26¾
- ....... - ........ - .... j.... - .. . . ... - ........ - ...... ..
GeneralmortKaire .... 6 50 - 50½ ....
56
57 - 60¾ 55 - 57¾ 55 - 59
671.jf- 60
Trust receipts ......... 6 48 - 50½ 50½- 53 52 - 55 5 3¾- 67
58 - 58
- ....... - ........ - ........ - . ....... - ........ - ... . .... - .. .. 60 - 62½ ISS - 61
..
.
.
..
.
........
....
Stamped assented ......
South Carolloalst, ex Apr.,'89, cp .. 6 96 - 96 99 - 99 98 - 90 98 - 99½ 100 -100¼ 99½-100),( 100 -100½ 101½-101½ 103%---103¾ 101 -101¾ ... - .... 101- 101¾
- 59 1... - ........ - ..... .
;!;!!!~·::: ::::::::::::: .. -.;¾= ·o .... s = ·a .... a = .o .. ··;; = ii..
~~½=~:½
11 - 12¾
~~¾=i2 ... i.ii iz .. ~~
=
1~
/·i2·½= 14½
= :::: ·i2 =is ..
.. - .... 115 -115½ 112%-114 112 -112½ .. .. - ....
So. Pac., Cal-1st ..... .. 6 107 -107 115 -115 115 -115 112 -112 . ... - .... 114 -114¾ 115 -116
1st con110I., 1938 .... I} 101½-102¾ 102 -102% 1029:(-103¾ 100¼-100¾ 100¾-101¾ 100½-102 1019:(-102¾ 100%-102¾ 101½-102 •100 -100¾ 100¾-100¾ 100¼-100½
So. Pac., Ariz., 1st .... 6 .... - ........ - ... ... . . - . .. 107 -107½1107¼·107¾ 108 -108 105 - 105:J..( 106 -106 106 -106)4106 -106½ 105½-106¾ 104¾-105¾
So. Pac., N. lllex.-ht.6 107 -107½ 107¼-107¼ 107¼-107¾ .... - .... 107¾-107% 107%-100 105)4-106 106¼-106¾ 106¼-106% 106¾-106¾ 106 -106½ 104¼-106½
80 - 86
87 - 92
Tenn.C.&I.-Tenn. D.6 g7 -104¾ 101½-104½ 99 -101¾ 96~- 98 97 - 98 96¼· 98½ 96¼- 98¾ 96 - 98 97 - 98 88 - 93
Bir. Div•• l•t ...... ... 6 98½-103½ 99 -103 99~-100 09 -100¼ 100%--,103 101 -102¼ 98½-100 95½- 98 97 - 99½ 00 - 97½ 90 - 96% 86½- 93¾
- .. ..
.......
.
........
........
....
........
........
....
50
50
46½
45
..
....
51
51
....
....
.'7'
1911
Te:x. Cent.-lst.
T.&N.O.,Sab.Dlv.,lst6 ... . - .... 106 -106 103¼-.1.03½ 105 -106 .... - ........ - ... . 107 -107 109 -100¼ 104½-104½ ... . - .. .. 102 -102 .. .. - ... .
Tex.&Po.c.-E.D .-lst.fi . ... - ....... - ........ - ....... - .... .... - ....... . - ........ - . ... 109½-109¼ .... - .. . . 107 -107 102 -102 102½-105
1st, tr old, 2000 .. . . ... I} 90¾- 92½ 91 - 92% 91 - 92¼ 91¾- 94 93¾- 96¾ 91¾- 93 92 - 93 91 - 92 89¾- 92¼ 90 - 91¾ 86 - 92 82¾- 86½
2d, g., Inc., ~000 .. .. . ~ 38¼- 40¾ 37¾- 40% 37¾- 39¼ 37½- 40)4 39¾- 45¼ 41 - 44¼ 40¾- 42¼ 38¼- 40½ 38 - 42½ 35¾- 40½ 30¾- 37¾ x26 - 32¾
c
Third A venue (N. Y .)
... - ....... - .... 115 -115
.. - ........ - .... 111 -112
1st, 193'7' ............. .. ~ .... - ........ - .... 112 -112¾ .... - .... 114 -lli 113 -113
Toi. A. A. & C., 1917 .6 104½-106 105)4-106~ 103½-103h 103½-105¼ 104¾-105½ 105 -105½ 105 -105¼ 104¼-106 103 -103 102½-103¾ +80 - 92½ 80 - 84¾
95 - 99½1 81 - 93
Toi. A. A. & N. lll., lst.6 105 -107½ 106½-106¾ 106 -106¾ 106 -107½ 102 -103¾ 103½-104¾ 103 -104¼ 104 -104¼ 104 -104¾ 102 ·104
95 - 99¼
98 - 98
Toi.A.A.& G.T.-lst .. 6 107 -110½ 108¾-110 112 - 112 110¼-110¼ 110½-110½ 110 -111 1089:(-108¾ 106 -109 107½-109 107½-108
-104 102 -105
102
106
103
-105
104
.
.
.
.
...
Toi.& Ohio Cent.-lst.l} 101? -103¾ 102¾-103¼ 103 -103¼ 103½-104 104 -106 lO<J -;-108 108 -108¼
T.P.&W.-ht, 1911 .. -i 76 - 76¾ 76½- 77 77 - 78 77¾- 78% 78½- 80¾ 80 - 80½ 78 - 79 78 - 78 78 - 78½ 77%- 78¼ 77½- 77½ 76 - 77
Tol.St.L.&K.C.-lst.6 911 -101, 98 -101 09 -100 98 - 90½ 99 -100 97½- 99 99 - 99¾ 98 - 09¼ 95 - 98½ 03 - 95½ 91 - 95 83 - 93
Union Pac.-lst, 1896.6111 -111)4111¼-112¼ 112¼-113¾ 111%-113 lll½-112)4112¼-113¼ 109!1(-110¼ 110 -110½ 110%-110¾ 111 -112 110¼-111¾ 111¼-112
lat, 1897' ............... 6 llZ -112¾ 1113 -113¼ 114 -114 113 -113¾ 113¼-114% 113¾-113% 111¾-111½ 111%--112 112¼-112¼ 112%-112% 112 -113 113 -113
ht, 1898 ............... 6 113 -115½ 114¾-115¾ 115%-116¾ 114¼-115% 114%-115¼ 115¼-115¾ *112%-13¼ 113¼-113¾ 113¾-114 114 -115 111¾-114% 114\¼i-114¼
114½-114½ .... - .. ..
1st, 1899 .............. 6 115 -116 116¾-116¾ 116¾-118½ 116¼-118¼ 116¼-117,4116½-116½ 114¾-115 114%-115 114%-115¼ .... Slnkintr 1und .... ..... .. 8 115¼-116¾ 116¼-116½ 112¼-112¼ 112%---113 112¾-113 113 -113 113¼-114¾ 114 -114½ 110 -110¼ 110 -110½ 108 -108 108 -108
... - ........ - ... . .... - .. . . ... - .... 113¼-113½ 110 -110¼ .... - ... . 108 -108 108 -108¼
Reirlstered .......... 8 115½-115½ 116¼-116¼ 112 -112
. ... - ........ - .. . . .. . - ........ - ........ - . .. .. .. - ... .... - ........ - .. ..
Collateral Trust ..... 6 1(»½-107 107)4-107¾ .... - .. . .. ..
Collateral Trust .. .. ~ .... - ........ - ........ - ....... - .... 99 -102 .... - .... 100 -100 .... - ...... .. - ... . 99¼- 99½ .... - ........ - .. ..
Collateral Trust .. .. 4-½ 89 - 90 89 - 89½ 87¼- 87¼ 86 - 86 84 - 86¼ 85 - 85 .. .. - .. .. 84 - 85!1( .. • • - . . .. 77¼- 84 t74 - 79 65 - 72
1
.. .. - .. . . .. • - ... . 110 -111
110!,(i-110½ 110½-111½ 111¾-112¼ 111¾-111¾ ... • Kan.Pac.-ll!lt, 1S9~.6 111½-112 . . . . - . ... 110¾ 111)4 .. . .
ht, 1896 ............ . 6 110 -111 111½-111½ 111¼-112¼ .... - ........ - .... 110 -110 110¼-110% .••• - ... .. .. - .... 112 -112¼ 112 -112¾ .... - .. ..
K. P., Denv. Div . .. -6 113 -113¼ ... - .... 115½-117¾ .. . - ... . ... - .... 113 -113½ 114 -114¼ 114 -1157-( 114¼-114¼ 114¼-114½ 111¾- 111½ 111 •·111
1st, consol ...... . ..... 6 114%-116 116 -117 116¼-118 116¼-117½ 113¼-114% 113¼-115½ 115 -116 .. .. - .... 114 -115¼ 114%-116¼ 109 -112 107 -109
Cent. Br. U. P., 8, f'. ,. .... - ........ - ........ - ........ - .. ...... - .. ... ... - .... . ... - .... 100 -100 .... - ........ - ....... - ....... - ... .
88½- 00½ 87 - 87½ 87 - 88
93 - 03
95½- 96½ 94½- 05
92¾- 95¾ 95 - 09
00 - 05
95 - 96¾ 94 - 95
At. Col. & Pac.- ht .. 6 96 - 98
- .. ..
At.J.C.& West-lst.6 .... - .... 96 - 96 ... . - ........ - .... .... - .... 92 - 92 94 - 94 02½- 94. .... - ........ - ........ - . ..
Oretr, Sh. Line-lst ... 6 114 -116¼ 112½·113¾ 112¾-114 114 -114¾ 113 -114 114 - 115}4 114¾·115¼ 111 -112¾ 110¾-111¾ 110 -111 105 -108¾ 99 -104
79 - 80½
Or.Sh.L.&U.N.,coo.~ 07 - 98 93¼- 94¾ 93¾- 94¼ 92¾- Q4 93½ -94½ 94 - 94½ 94 - 94½ 93 - 91¾ 93 - 94 *88¼- 91½ 84 - 90
Collat,T11t.,1919,1r .. l} 06 - 96 .... - ........ - ........ - ........ - ........ - ... 06 - 96 95½- 95¾ .... - ........ - . ....... - .... 79)4- 81
-105
105
-106
106
110¾-110¼
lll½-111½
111¼-112½
-112
*112
115}(-116
-114
114
-115
113
-114½
113
Utah South'n- Gen .. '7 112 -114 115 -115
Ext•n, 1st, 1909 ..... ,. 112½-113 .... - ... . 113 -113½ .... - .. . 114 ,114 114½·115½ .... - ...... .. - .... 109¼-111¾ 109¾-110¼ 105 -108¾ 102 - 103¼
U. Pac.Den.& G.Con.~ .... - ...... .. - ........ - ........ - ........ - ... ..... - ...... • • - .. .. 86½- 88 84 - 88 81¼- 85½ 77¾- 83½ 73¼- 79
Un.Pac.L.&Col.,lst.~ 101 -102 102 -102¼ 102 -102½ 100 -101 98¼-100 99¼- 90¼ 100 - 100 .... - ........ - .. ·· .... - ........ - ....... - .. ..
~!~~1~.~::::~1-J;t; !! =!; -~½= 8;~ ·85 =8; ..
1
1
86 =88½ ·86 =86% ·as =oo .. ·85 =86 .. ·85 =85 .. ·oo =&i~ ·85 =a1 .. ·'ii¼= 85 .. -~9 =ss ..
Gen., Kun.r.stn.mped.~ 88 - 88½ 87¾- 88 87 - 87½ 87 - 00 88 - 88½ 86¼- 88½ 87¾- 88 87¾- 88 88 - 88 87 - 88 81 - 85½ 80 - 83¼
........ - ........ - ....
Valley Ry. of o.-Con .6 .. .. - .... 105½-107 103½-104 .. - ... 104½-104¾ 104 -104¾ .... - ....... - ........ - .... •···
Wabash- 1st, a-, 1939.5 102 -103¾ 103¾-103¾ 103 -103¾ 103¾-105')4101¼-103 101~102¾ 101¾- 102¾ 100 -102 1007-(-102 101¾- 102 94¾- 99¼ 93 - 08
68 - 74¼ 69 - 73
77
74¼78¼
~d mort., irold, 1939.~ 83¾- 86¼ 80¼- 82¾ 80')4- 81½ 81 - 82¾ 82¾- 85 82¾- 84 81¼- 83½ 76½- 80¼ 75
29 - 34½ 30 - 33
Deb. inc., 1939, •• B .ti 50 - 53 48 - 52¼ 17 - 49 47¾- 53 52½- 57 50¾- 53¼ 48 - 50¾ !l5 - 50¼ 41 - 48¾ 35 - 43
!St.L.K.C.&N.R'I e.1 111½-112 112 -112)4110 -110 109¼-110 109½-110 111¼-111¾ 110 · -110 108¼-109¾ 106 -106 106¼-106½ 106 -106 .. .. - ....
No. Mo.- ll!lt,189~.,. 114 -114¾ 114¾-115 115 - 115¼ 116 -116 116 -116¾ 116¾..116¾ 112½-113 112 -112¼ 111 -111 .... - •· ·· .... - .... 109¼-109¼
l!lt.C,B'Ke, lst,1908.6 110 -lLO 110 -110 .... - ........ - ........ - ........ - . .... .. - .... . .. - .. .... .. - .... 101 -103¼ 101 -104¾ 105¼-107½
W .N. Y. & Penn.- 1 st.~ 92¾- 95 94¾- 95½ 94¾- 96¼ 96 -101 99¾-101 100% 102¼ 09 - 99½ 08¾- 99~ 09 - 90¼ 08¾-- 99¾ 98 - 99¼ 08½- 99
!Id l'tl., g., 192'7 ... 3-~ 29 - 33 31 - 33¾ 31 - 32 31¼· 38 37¾- 40 37½ 38¾ 36¼- 38 34½- 35½ 33¾- 34¾ 31¼- 33¼ 28 - 31¼ 27¾- 30
... - ... . ···· - ........ - ... . 114 -114 .. .. - .. ..
West. Un. Tel.-Coup .. '7' .... - ........ - ........ - .... 117k-117¼ .... - .... .... - .. .. 115 -115
... - .... •··· - ....... - ... . ... - ....
114¾ 114.¾112 ·112
ReKl•tered ....... ...... ,- .... - ....... . - .... 117 -118 .... - .... ....
Collateral trust ..... ~ . ... - .... 100¾-102 99 - 101¾ 100 -100¾ 100¼-102¼ 101 • 102½ 09¾ 100¼ 99 -100¼ 98½- 90¼ 98 - 99¾ 97 - 99¼ · i)7¾-100 ..
Wbecl.&Lnke E.-lst.l} 105 -105½ 105 -105 . ... - .... 102½-102½ 106 -106½ 106½·107 .. - · · · · .... - .... 106¼-107 108 - l 08 108 -108½ 104 -106
... - ........ - ........ - ....... - •··· .... - ... .
Wheel. Div, 1st, 1r .I} .... - .... .... - ........ - ........ - •.. . .. - .... .... - .... 101 -101
WI•. Cent. Co., 1st, fr .. ~ 06%- 99 97½- 98¼ 98 - 99¼ 98¾-104¾ 100 -101 100 -100¾ 98 - 98½ 99 - 100 98¾- 99¼ 98 - 99¾ 93 - 98% 90 - 97¼
Income, 1931·.. ....... I} 60~- 69 55¾- 65 55¾- 61 57¾- 62 58 - 61½ 58 - 58 55 - 56¼ 51 - 56 40¾- 52 43 - 50¾ 80¾- 45¼ 90 - 97½
Wood111.'k Iron- st .... 6 .... - . . . . . . . . - ... . .. - . . . . . . . . - .. . . ... - . . . . . . . . - ... · 00½- 00¼ .... - .... 90 - 00 .... - .... .... - .... 281,(- ~
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1
t Under tbe rule; cash.
• ~tamped a.sl!!ented.
84-
RAILROAD
BONJJS.
1891.
JANUARY FEBR'RY.
BONDS.
----------
MA.ROH.
MAY,
APRIL,
JULY.
JUNE.
AUGUST.
SEPT'BER. OCTOBER. NoV'BER. DEO'Bl!lR,
Low. High Low. High Low.High Low. High Low.High Low.High Low.High Low.High Low.High Low.Hi~b Low.High Low.High
Ala. Mid.-ht, 1928.. 6 .... - .... 87 - 90¼ .... - ........ - ........ - ...
Am. Cot. Oil Co.-lst .. 8 ...
. ... - .... , ... . - .... .. . - . .. . 94 - 96
!:.i~:i:~:::~:=~::::
~72 = 75 .. 71¼- 74¼ ,.71 = 73 ... 72 = 73 .. .
14
.
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Atcb. Top. & S. Fe.Gen. mort., 1989 ..... 4 *78 - 80
1!:!!::;·;:9·::.:·::.::~ ·:i;½:
53 ..
~~
... - ....... - ....... 92¾'- 95
94 - 95
91 1
·;,~=
= ~~¾
13
1
¼ .
~.%=
.~ =
70½- 72¾
~~.½=
12· '11~~
~~¾= ~~ ....
.... 76½- 76½ 82 - 82
81¾- 82
82 - 85%
99½ 98 -100
98)4-102½ *100 -105¾ 104½-108
60~ 7~ ..
~~~
~~..
73¼= 7~ ..
i~ i~
=
·;,2¼= 73¾ 73 = 73½ .72%- 76 ..
.~~.¼= ~~~ .~~~= ~~~ . ~~."= ~~~
7t!¼- 79¾ 75 - 78½ 77%- 80¼ 78 - 80¾ 78¾- 79%, *77¾- 79¾ 77¾- 82¾ 80½- 82½ 81¼- 84
:~~=
1
~~~
is* 50¾
::% ;;~= : ~ ::¾=
Balti, &O.-lst, P,Br.ti .... - .... 115½-115½ . . . . - . . . . . . . .
.. .. 112 -112
1
Gold, 192~, coup .. ... i, .... 106 -107½ 106½-106¾ 103½-104½ 104 -105
:ss
~9½ ·:iS¼=
66¾
82¾- 83¾ 83¼- 85¼
65¾ ·6i·¼= M¾
66¼
·44¾= ~13½1·:i;;¾:
ei½
=
·oi¼=
.... - ..... .. - .. .. ... - ........ - .... 115 -115
102 -104 104 -105 102 -105!)4 106 -106 105 -106
63½=
.... - ........ - ....
105¼-107 106¾-lOi½
- .... 104 . -104 105½-106½
-109 107 -107 109 -109
- ........ - .... 103¼-105
- . . .. ..
........ - .. ..
Regiatered . . .... ... ... . . . . . - . . . . . . . . - . . . . . . . . . . ... - . ... ... - . . . . .. . - . . .. . . .. - . . .. . .. . - . . .. .. .. - . ... .. ..
Consol,, ll'Old, 1988 .. ~ .. . . - .. . .. .. - . ... 109 -109 109½-109¼ ... - .. . ... - ........ - .... 106 -106 107 -107 109
B.&o.s.w.-1st, 1990 94¼- 94¼ .... - ........ - ........ - .... 95½- 95¼ . ... - .... 97¼- 97½ 96 - 97 100¼-101¼ ....
2d pref,, income ........ .... - ........ - .. .. .. . - . .. . .. - .. . . 18 - 18 . ... - . .. . 17¾- 17¾' .... - .... . ... - ........
3d pref,, income........
- .. . .. .. - .. .. .. ..
.. .. .. .. - .. .. 5 - 6 . . .. - • .. . . .. . - .. .. . .. - .. . .. .. - .. • .. .. - .. .. . .. .. .. - .. ..
Beech Creek.-l8t, ll' .. 4 84 - 95
95 - 96
96 - 97¼ 97½- 98½ .... - . .. 97 - 97
96¼- 90¼ 95¼ ·
96 - 96¼ ... - .... 95¼- 97¼ 96¼- 98
Bost. H.T. &Wea.deb .~ 97¼- 99% 102½-102¼ 100¾-100¼ 99%,-100½ 99¾-100 99¾- 99;!4 .. . . - .. .. 99¾-100
97¾- 97¼ 98¾- 99
99¾- 99¾ 100¼-100¼
Bost. Un, Gas T1·. ctf.. ~ .... - ........ - ........ - .... .... - .. . .. .. - . .. .. .. - ....... - . .. . ... - ........ - ........ - .... 88 - 88 89%- 91¾
Buff. Roch. & Pittsb.General ................ ~ 96½- 96¼ 97 - 98¼ 96 - 96 96 - 96
95 - 95
95 - 95
95 - 96
94 - 9!i .. .. - . .. . .. .. - .. .. 92 - 94 .. .. - .. ..
Roch. & Pitts., lst .. 6 112 -112¼ .... - ........ - .... 120 -120 .. .. - .. .. .. . - . .. .. .. - .. .. .. .. - . . .. .. . - .. .. 116 -117 117 -117 \14½-114½
Consol., lst .......... 6 111¼-112½ 114 -114 .... - .... 114 -114 116 -115 *11½- 112 112 -112 114½-114½ 114 -114¾ 115 -115½ 116 · 116¼ 114 -115
Brooklyn Elevated1 st, 1924 ....... .... ... . 6 109%-112¾ 111½-112 111 -112 108%,-110½ 110 -110¾ LlO -112½ 110 -111½ 111 -112 112 -112½ 110½-111½ 110½-111 111 -113
2d mo1·t., 1911> .... 3-1> 85 - 85 85 - 87 87 - 87 87 - 88 88 - 88 87 - 87 . ... - .. .. 84¼- 86
86 - 86
88 - 88
... - ... . .... - .. ..
Union El,-lst,1931.6 106 -109½ J.09 -109½ 108 -109½ 109½-111 *107½-108 L07 -107% 107½-108 107¾-110 109 -109½ llO½j-112 *107¾- 109 109 -110¾
Bur. c. R. & No.-lst .. ~ 93J.6- 98½ 96¾- 97¼ 96½- 98 97¼- 98 95¾- 97
92¼- 93% 93¼- 96
95 - 97
98 - 99
98¼-101 100½ 101½ *97¾-103
Cons, 1st & col. tr .... ~ 85½- 85½ 87 - 87½ 87½- 87½ 83 - 85 85 - 85
85 - 85
85 - 85
85 - 85
90 - 90
89 - 91
90 - 91
90 - 95
Registered ............. .... - .. .. 96 - 96 .... - .. .. .. - .... .... - ........ - ........ - .... .... - ........ - ........ - .... 90 - 90 .... - .. ..
I. C.& W.,tst,1909.'7 .. .. - .... .. - . .. .... - .. .. 99 -100 .... - .. . .. - .... ... - .... 100 -100 .... - ....... - ...... . . - ........ - .. .
C.R.I.F.&N.,lat...... ti .... - . ... . ... - . ...... - .... 96 - 98 92 - 92 .... - ........ - ........ - ........ - ........ - .... 100 -100 102 -102
1st, 1921 ........... ... ~ . . .. - ........ - ...... .. - ....
- ....... - .. . 80 - 80 • ... - ........ - .... . .. - .... .. - .... • ... - .... 84 - 84
Can. South.-lst, aruar. *105 -106½ 106 -107¼ 106!¾{-107 105½-107 104¾-106¾ 104 -106¼ *02½-104¾ 103 -105 103¾-106 105 -107¾ 106¼-107¾ 106:?8-10~
2d mo1·t........
.. .... /> 95½- 98
97½-100
96½- 97½ 96 - 97
96 - 97
95½- 97
96¾- 9791! 97 - 100 .... - .... 97¾- 98¾ 97%- 98½ 98½-101
Reir;istered .. ............... - ....... - .... . .. . .... - ........ - ........ - .. .. 94 - 9'1 . ... - ........ - .. . 97 - 97
97 - 97 .... - ... .
Cent. O,, reorg,,lst.. 4¼ 101½-101¾ .... - .... 100½-100½ .... - .... 100 -101 .... _
101½-102 101½-102 101 -102 101 -102 101 -101 101 -101¼
Cent.RR.&B.,Ga .. /> 95 -95
95 -95
96 -96
98 -98
94 -94
92 -92½ .... - ........ - . ... 85 -85 .... - ........ - ... 1.... - ....
Sav,&W.,lstcon.,g.~ 82½- 85
85¾- 87
82¾- 84
82 - 83
82 - 82¾ 79%- 79% 78 - 80
78 - 79
76 - 76
74 - 74
74 - 75% 69¼- 77¼
1
Cent. ot New J ei·sey1890 ...... .. ............. 1115 -115 116 - 116 117 -118 *115 -116 116 -116 116 -116¾ ... - ... ..
... . - ........ - ........ - ........ - .. ..
Consol., 1899 ......... 7 121 -121¼ 122 -122 123 -123 .... - .. . .... - ........ _ .... 115 -115 115 116½ 116 -116 .... - .... 116 -116 117¼-118¼
Converlible, 1902 ... 1 .... - ........ - ........ - ........ - ........ - ........ _ .. .. .. .. - .. .. .. . - ........ - .. . .. .. - .... 119½ 119~ .. ..
.. ..
Conv. deb.,1908 ...... 6 .... - .. . ..... - ... . ... - ...
- .... 120 -120 .... - ... . .... - ........ - .... ... - ...... - .... ... - ........ - .. ..
Gen. M., 1987 ...... .. ~ *107 -109¾ L09½-110¾ 110¼-110¾ 110¼-111~,L 109¼-111% lO&Js-110¼ *107 -108¼ 108¼-109 109½-110½ 109 -110 109½-110 109¾-112
Registe1·ed . .... ...... ~ 107¼-110 109¾-110¾ 109 -110.¼ 109 -110 107¾-109¼ 108 -108¾ 106¾·108¼ 1087-£-108¾ .... - . . . 108¼-109¾ 108 -109¾ 108 -109
Leh.&W,B,-Aasent 7 112 -113 110 -112 110¾-112 110 -111¼ 110¾-112 108¾-110 108 -109 108 -111 108 -110 lu9 -110½ 110¼ 110½ 108½-110
Mortarall'e, 1912 .. .. ~ 99 _ 99
97 - 97
95½- 97
96 - 98
96 - 99 .... _ .... 95 - 99
92 - 0i
97 - 97 .... - ... 92¾ 94 .... - ....
Am. Dock & Imp ...... ~ 106 -108½ 106½-107¼ 105¾-107 106½-107 107 -108 107½-108½ *05½-107¾ 107 -107 108 -108 108 -108½ 108¾-108¾ 108 -109¾
Cent1·al Pacific.Gold, 1891) ............ 6 .... _ ........ - .... 108 -108 107}(-107¾ 107½-107½ .... _ .... 105¼-106¾ 105 -106 106½-106½ 106½-1013¾ .... - .... 107 -108
Gold, 1896 ........ .... 6 .... _ .... 110 -110 109½-109½ 108¾-110 l08¾-109 109¾-109¾ 106:1(-106¾ 106¾-106½ 107 -107 107¾-1077/4 .... - .... 109½-109½
Gold, 1891 ...... ...... . ti 110¼ 110¾ 110¾-111¼ 110½-111¼ 109½-111 109½-110¾ 110½-111 107'/4-108¾ 107 -107% 107¾-108¾ 108 -108¼ .... - . ... 109¾-109½
Gold, 1898 ....... ..... . 6 112¾-112¾ 112:)s-112½ 112 -112¾ 111¼-112 110½-111¼ lll¾-112¼ 109 -109¼ 107¾-lOP 109 -109 109 -110¼ 110¼-110!)4111¼-111%
SanJoaquinBr ....... 6 ... _ .. .. . - ........ - . ..... . - .... 107 -107 .... _ ... . .. - .. .. 107 -107 108 -109½ . ... - ....... - ........ - ....
Ca.I. & Or., ser. "B" .6 100 -100 .... - . . .. ... - ........ - ........ - .. • .... - .. ...... - ·.. .. .. - · · · .... - ·.. · .. · - .. · · .... - ........ ··
Land irrants ... ........ . G 100 -100 .... - ...... .. - ..
98 - 98
99 - 99
97¾- 98
97 - 97
97 - 97
. .. - .... 98½-100 .... - .... 101 -101½
Western Pac .... , ...... 6 110 -110 .. . . - .... 108 -110 108 -109 109 -109
.. _ .... 107 -107 .... - .. .. . .. - ........ - ........ - .. .. . .
- ....
No. of Cal., l>O year .. ~ 100 -101 100½-101 100½-102
99¾-100¼ 98¼- 99½ 99 - 99~ 99 - 99½ . ... - . . . . 99¾-101
98¼-100
99¾-100¾ 100½-101
Chesapeake & OhioP. mon. fund ........... 6 113½-113½ 112½-112½ 112½·112¼ 112 -112 109¼-110 109¾-110 107½-108½ 108¾-108½ 108½-108½ 110¼-110½ .... - .... 112½-112¼
Series A, arold, 1908.6 115 -118¾ 118½-119¼ 118 -118¼ 115 -115 112½-114 lll½-113 116 -116¼ 116 -116 116 -116 112½ 114½ 114 -117 116 -115
Mort., 1911 ............ 6116 -117 .... - . ... 117¾-117¾ 114 -114 114¾-115 114 -lH 110½-110½ 112 -112¼ 113¾-116 114¼ 115 ....
.. .. 114¼-114½
oo~,
l~e~~=;~:;l~.~.~::::~
-~~-½= 9~~
R,&A.div.
::~1~:: .~~. =1~~ .~.½=1~ ..
~~¼= ~~~
.~~-¼=
9~~
:!½= :~¼,
~~.
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,lst con2-4 67 _ 70 69%- 71½ 68 - 70
69 - ·7 0½ 67!J,£- 69½ 68 - 69¼ 65½- 69¾ 67 - 71
70 - 71½ 70
2d consol,, 1989 .... 4 68 _ 71¾ 72 - 73
72½- 73
72½- 72½ 68 - 69¼ 66½· 68% *O!i - 66%, 66%- 69¾ 70 - 72
70
Ches. o. & S. w ........ 6 104 -107½ 105 -106 104½-105½ 105 -112 L06 -105½ 105¼-114 105¾-105¼ 102½-103¼ 102¼-104 104
2d mo1·t,, 1911 ........ 6 75 _ 75 .... ..... - .... 75 - 76
... . .. - ... . .... - ........ - ........ - ..
...
Chicago & Alton-1st .. , 10!¾-105 104¼-1•)5¼ 104%-106¼ 105 -105½ 105½-106 105!1(-106 102¼ 102.½ 103 -103½ .... - ...... ..
Sinkingtund,1903 .. 61 iO -120 .... - .... 121 -121 121¼-1217' .... - .. , 119¼-119½ 119½- 119½-• .. - ........ - ........
L.&Mo.R,lst, 1900.'7 .. .. _ .... 116 -1 16 116 - 116¾ .... - .... 117 -117 .... - .... 117¼-117½ . ... - ... 115 -115 .. ..
St.L.J.&Uh.lst,'94110'! -108 lOP -109 .... - .. .. 106 -106 106½-106¼ ... . - .... 106½ ·105¼ .. .. - ... . .... - .......
c::~':i.:!::~'!:r.~~t~~:;
c.
B. & Q,-Conlilol ...... 7
Sink. fund, 1901 ..... ~
Debentu1·e, 1913 ..... ~
Co11ve1·tible, 1903 ... ~
lowaDiv,--sink. fd ... ~
IowaDiv., 1919 ..... 4
Denver Div., 1922 . .. 4
:~~\~~!!i;;~:,i·92;::!
Chic, & .East. Illinois-
ioi· =1o i " ios =103 ..
121¼_123 1~1¼-123
103¾-106 104%-105
98¾-100% 98¼-100
104 -105½ 104¼-106
l03 -103 105 -106
9378. 9378 92¾- 92%
92½- 95
88 - 89
'os
·::: = ::: : :::· = :::· ioo}(=1oi ..
= 98 ·
121½-122 121¼-122¼ 120~-123 121 - 122
103¾-105 100 -103 102 -102~4 101 -101
98¼- 99¾ 99 -102¼ 98),,(- 99% 97½- 90
*101 -102 102 -105¾ 104 -105½ 103¾-104¼
105 -105¼ 102½-102½ .... 103 -103
92%- 93 ... . - ... 90¼- 90!1( 88 - 89½
88¾- 88~ 81) - 89 87\4- 88J,t 87 - 88
~!¼= : ~ :½= : ~ ·84½=
86¾ 85¾= 81· · : ~!¾
=
84¾=
101 =1cii"
117½ ·118~
101¾ -102½
06 - 99
102!,4-10J»
102 -102¼
88¾- 89
88 - 91
,ioo
1~ : =~~~%
:¾=:
·s;
- .... 104 -104 106 -106)4
1
:::: - .... io2½=102½
= ~.
=102 ..
118 119 120 -121½ 121½-122:}.11122 -124¾ 124 -126
101½-103 104 -105 .... - .. . 102½-102¼ 102%-102%
95;14 · 98
98¼-100¼ 100 -102
97 ·100
99½-101¾
102)4-107¼ 106)4-110 108¼ 109¼ 108 -110¾ 109½-114
... . - ........ - ........ - .... 1101¼ 102 .... - ....
90½- 92
91 - 91
91½- 95¼ 91 - 91.½ 91 - 93½
.... - .. .. 86 - 86¼ 86¾ · 89
88¾• 90
90¼- 92½
~~~
ss·· ·so s~¼ ·so 85 .. ·s;
=
t
-101½101¼-104½
- 73
72 = 73· 72 = ;;-- 75
73 - 73¼ 73%- 80
-104 103½-104½ 104½-107½
- ........ - .... , 70 - 70
- .... 105 -105½ 105¾-106
_- .......· *1. 18--11·8·· ·1·· ·..··· _- ._ ...
=
= 00··1·85½-
87¼
=
oo ..
lst, siukinll' fund ...... ti 11a -113 114¼-114¾ . .. - .... 114¼-115¾ 114 -115¼ 108%-110 110¼-110¼ 1107,(-111 112½-112½ 116 -116 .... - .. . ... - ....
1st consol., llOld ... .... 6 120 -12l 120 -121 .... - . . . 119½-120 120 -120 119¼-120 120 -120 120 -120 119½-119½1118¾-118¾ 118½-120 122½-122¼
Gen, 11101·t., 1937 .... ~ 9 5 _ 98½ 90 - 96½ 95 - 96
9!1¾-100
96 - 97
95 - 96
95¾- 96¾ 95 - 97
96¼- 97% 97 - 99¼ *06 - 06¼ 95 - 97¼
Chic. Gas L. & C-lst .. ~ 83½- 89 88 - 88 ... - .... 88¼- 92½ 90 - 91
90½- 91½ .... - .... 80½- 80¼ .... - ...... .. - .... 84 - 85¼ 84¾- 89
Chic.&ln.C'lRy-lst.~ 9 7 -lOO
97 - 97
96 - 96
96¾- 97½ 97½- 0i½ 96½- 96½ 95 - 95
93%- 94
96 - 96
96 - 96
95¼- 97
96 - 97
Chic, Jc, & St'k Yds .. ~ .... - .... .... - ........ - ... . .. - ........ - ... . .. - ........ - ...... .. - ....... - . ....... - .... 93 - 93 .... - ....
Chic. Milw. & St. P.lst, P. D., 1898 ...... . 8120 -120¾ 117 -119 118 -118¾ 118 -120 119 -119 118¾-118¾ 118 -119¼ 116 -116 116½-118½ 118 -119
.. . 119¼-121
2d, P. D , , 1898 ..... 1•3116 -117 lll½-112½ .... - ....... - .... 116 -115 113 -115 115 -llt! .... - .... 117¼-118 117¼-119¼ 118¾·119¾ 120 -120½
ht ,gold, R, D,1902.7 122½-122¾ . ...
.. .. 1217-£-122¼ 122 -124 122½-122½ 121¼-122½ .... - .. 119 -121¾ 121½-121½ 122½-122½ 123½ ·123½ 127½-127¼1
1st La Crosse Div .... '1 *105½-07¼ 106%--109¼ 108 -109 109½-111¼ 111 -112~ 110 -112 *106¾-109 109 -113 113 -116½ 1
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