The New York Herald Newspaper, September 26, 1872, Page 5

FINANCIAL AND COMMERCIAL, | The War of Speculation Breaking Out Afresh, Clique Demonstrations, Offensive and Defensive. PREMONITORY TIGHTENING OF MONEY, | The Rate on Call Run Up to 29 Per Cent, but Falls Back to 3 Per Cent. | GOLD MARKED UP TO 114, The Panama and Pacific Mail Movement Evokes Revenge. THE ERIE “CORNER” NON EST. | Did “Daniel” Se Out or Did the Ship Come In? Is the Dividend on New Jersey Central Regu- ular and Payable? ~ Decline in Northwestern Preferred. Wapwespay, Sept, 260 PM} On ‘Change to-day cotton was in good demand and firmer. Flour and wheat were dull ard un- changed. Corn was ashade better. COMPARISON OF THE BXPORTS. ‘The following shows the exports, exclusive of specie, from New York to foreign ports, for the ‘week ending September 24 and since the beginning of the year:— ge 1872. For the week.. $3,364,536 $3, $4,860,213 Prev. reported. 130, 362, 363 sfoaore 977 so1'700/082 Bince Jan. 1..$133,726,899 $172,680,653 $166,646,805 MONEY UNSETTLED. ‘The money market opened at the stereotyped Morning quotation of 6-a 7 per cent, but became active almost immediately, and the dealings up to mearly two o'clock were at 7 a7, gold, per cent. Here the agents of THE TIGHT-MONEY CLIQUE ade their appearance and bid the rate up to one- sixteenth per cent, equivalent to about 22% per cent perannum., After they had withdrawn the vate fell to as low as 3 per cent,and the final quotation in the sidewalk market at Exchange Dlace was 4a 5 per cent. COMMERCIAL PAPER ‘continues dull and little ts doing in it, either at bank or on the street. Prime names are quoted 8 @ 12 per cent discount. Foreign exchange ‘was nominally as before, but the actual business was at @ concession of 3 a per cent upon the counter quotations, THE GOVERNMENT PURCHASE OF BONDS. There were fourteen proposals to sell bonds to she government, the amount tendered being $8,410,150, at prices ranging from 111.95 to 113.50, The million was bought at 111.95 a 112.10. GOVERNMENTS LOWER. ‘The government bond market was strong in the early forenoon in sympathy with the tone of the London market, which was reported quite buoyant, with an advance in the 67's to 92%, as against 917% yesterday. But alower quotation for gold and a weaker feeling in foreign exchange prevented any advance in prices, and when subsequently OUR BONDS IN LONDON were reported back to 92 and the money market had been unsettled and made active, prices re- veded @ fraction of + a 1, and failed to recover when at a still later hour money had become easy and the quotation of gold had advanced. The chief fluctuation was in 67's, which opened at 417% and went off to 118%. The following” we the latest quotations:—United States cur- renoy sixes, 112% a 112%; do. do., 1881, registered, 11434 @ 11434 ; do. do., coupon, 1153¢ a 1155; do., five- twenties, registered, May and November, 1143 a 114%; do. do., 1862, coupon, do., 114% @ 114%; do. do., 1864, do. do., 11434 8 114%; do. do., 1865, do. do., 114% & 115%; do. do., 1867, registered, January and July, 113% a 1135;; do. do., 1865, coupon, do., 11834 & 1135; do. do., 1867, do. do., 11834 a 118%; do, do., 1868, do. do., 1133¢ a 118% ; do., ten-forties, regis- tered, 107% a@ 108%; do. do., coupon, 107% & 108%; do. fives, of 1881, registered, 110% a 11134; do, do. do., coupon, 110% a 111%. GOLD UNSETTLED—11334 A 114, The gold market opened weak and went off to 11834 asa consequence of the early buoyancy in American securities in the London market, but re- covered under the revival of operations on the part of the clique, who appear to have become incensed at their ill treatment in the matter of Panama and Pacific Mail, and started out again for araid on stocks and a locking up of gold and money, The sale at 114 was confined to one lot of $50,000. The course of the market is shown in the table:~ GOLD FLUCTUATIONS, 10 A.M... 10:10 A. M. In the gold loan market the rates ranged from @ per cent for carrying to 1-16 for borrowing. The pperations of the Gold Exchange Bank were as fol- lows :— Gold cleared. Gold balances. . Ourrency balances. The European steamers took out $236,000 in sil- ver, The Sub-Treasury paid out $33,000 on account Of interest, and $3,000 on account of redeemed five- twenties. $45,660,000 2,450,871 8,664,436 OURSELVES AS OTHERS SEE US. ‘The tendency of the gold market is thus discussed by the London open Stock Exchange Circular of the 14th inst; :— a Spon of some interest is occurring in Califor- Mla, In that State coin has been the circulating medium, hotwithatandin that greenbacks were legal tender, Lately gold-note banks have been established there; these notes have so risen in favor that they aro ererzwnere Sopplanting coin, It is contended that eenbacks were made redeemable in gold for the value on their face, at the United States Treasury, the premium on gold would disappear and there would be no ran of bee ig ge on the Treasury to exchange eenbacks for gold. This opinion receives con- irmation from the change we have noticed in Call- fornia, for the State felt strongly on the subject of cle, holding that as a precious-metal-pro- lucing country it would be impolitic to take measures calculated to depreciate the value of its own products. If the new notes re- place the currency on the Pacific slope over sixteen Millions of doliars in gold will be released, and may materially he'p the Secre of the Treasury in returning to a eee basis, if that Minister con- siders it desirable to seize the opportunity, It is, however, worthy of consideration that the ‘United tates ly towards a resumption of specie ty as te ie Way we have indicated, which is hange greenbacks for gold at the 88 gold is given for notes at Bank of Investors are aware that these greenbac! now at a depreciation with regard to gold, as 100 is to 118. Hen in purchasing United Stat Be. San & preference gshouid hee given to Lore 0 les as lor he day no} distant when ihe'two, i it Ibe eaual in value, and ders of the greenback securities will realize gain the rise, THE RAILROAD BONDS. The following were the bids for the railroad bonds :— Pew Yai Sen oe 6's, od g Gate if ff A 1s ence aay Tore Wab iota goobpecaco ney EPeccob Estee THE CITY BANK STOCKS. ‘The following were the bids for the city bank shares:—New York, 182; Manhattan, 160; Mechan- ics’, 180; Phenix, 101; Tradesmen’s, 148; Gallatin National, 118; Mercantile, 180; American Exchange, 114; Chatham, 150; Hanover, 90; Irving, 127; Metro- Politan, 183; Citizens’, 135; Nassau, 107%; Conti- nental, 913¢; Marine, 165; Importers’ and Traders’, 165; Manufacturers and Merchants’, 100; New York National Exchange, 97; Central National, 100; Fourth National, 110%; Tenth National, 83; Oriental, 170; German American, 102%. SOUTHERN SECURITIES FIRM. The Southern State bonds were generally firm and the Tennessees strong, the new issues advanc- ing to 78, The new South Carolinas were excep- tionally heavy and lower. The following were the closing prices:—Tennesseo ex coupon, 7234 a 73; do., new, 723, @ 73; Virginia ex coupon, 44 @& 60; do. sixes, consolidated bonds, 60% a 61; Georgia sixes, 70 a 80; do. sevens, 86.488; North Carolina ex coupon, 84 a 35; do., new, 20 a 21; do., special tax, 10 a 14; Missouri. sixes, 9244 a 02%; do., Hannibal and St. Joseph, 89 a 91; Louisiana axes, 63.856; do., levee sixes, 60 & 57; do., do, eights, 70 a 75; Alabama fives, 57 a 62; do., eights, 83 a 85; South Carolina sixes, 45 a 55; do., '. January and July, 233 @ 24; do., do., April and October, 24 a 26; Arkansas sixes, funded, 47 a 55. STOCKS UNSETTLED AND LOWER. The stock market led off with great strength and buoyancy, in sympathy with a further rise in Pana- ma to 144 and am advance in Pacific Mail, which latter stock was naturally affected in a beneficial way by the remarkable rise in its connecting and fellow railroad stock. The first sales of Pacific Mail were at 6834, whence there was a pretty active Amprovement to 78. The rest of the market fol- lowed at a distance of 4 & % per cent, Union Pa- cific touching 89, Rock Island 110% and NEW YORK CENTRAL 93%. The advance brought out sales to realize, and the check thus given the upward tendency was taken advantage of by the “bear” clique to convert the buoyancy into depression by the “squeeze” in the money market already referred to, and by lib- eral sales of stock ‘at the market.” Panama fell back to 140 (although it recoverea later at the close to 143) and Pacific to 71. The early improvement in the general list was entirely lost in this decline, and the range of prices about half-past three o'clock was the LOWEST OF THE DAY. Atthe same time a sudden and active weakness was developed in Northwestern preferred, which fell to 85%. Im explanation it was said that the directors had discovered that it would be impos- sible to pay more than the regular guaranteed dividend at the rate of 7 per cent; but the real reason lies, doubtiess, in the necessities of the clique, who had to fall back upon their store of this stock, held by them for investment, to get addl- tional means to proceed with the tightening of money begun this afternoon. Heretofore they have thrown a sheaf or two of Hannibal and St. Joseph shares on the market whenever they wanted funds, and their recourse to NORTHWEST PREFERRED is taken as an indication that they have exhausted that extra five millions of Hannibal and St. Joseph and had to go back upon their own personal prop- erty and valuables, It is also said that a German banker, in manosuvring to sell the common stock ‘was suddenly “‘plumped” with a lot of the preferred, which he had to get out of.as best he could, and hence the pressure of sales during the closing hour of business. The “corner” in Erie underwent & still further relaxation and the greatest difference between CASH AND REGULAR ‘was only 1 per cent, the latest lending rate being “flat.” After the hour for making deliveries the cash stock was worth even 4 little less than the regular way kind. These facts are believed to in- dicate that either Mr. Drew has sold his stock or the several steamers which arrived since yesterday have brought a supply of Erie sufficient to go around for the present, The Governing Committee have decided that a party supplying the bid in con- tracts closed out “under the rule,” and failing to deliver the stock as agreed, renders himself liable to expulsion under the enforcement of the penal- ties imposed in the case of transactions involving “OBVIOUS FRAUD.” Also that the defaulting party shall be lable to pay the difference between cash and regular stock, the amount of this difference or other damage that may be claimed to be assessed by the Arbitration Committee. This decision was @ consequence of the discussion evoked by the evasion of contracts when Daniel Drew endeavored to face the ‘corner!’ in Erie on Monday and Tuesday last. The New Jersey Central dividend was the subject of a great deal of discussion to-day. It seems that the CONSOLIDATED DIRECTORY “passed” the dividends on both Lackawanna and New Jersey Central, at their meeting on Monday. The board of the latter company, not liking this action, met suddenly on Tuesday and declared a 23g per cent dividend, as reported. Doubt- ess the courts will rule out this declaration, as the two companies were virtually consolidated and entitlea to share equally in the joint earnings of the two roads, New Jersey Central, declined to 100 and Lackawanna to 96, but rallied each 1 per cent before the close. The directors of the Bull’s Head Bank have declared a quarterly dividend of 4 per cent, payable October 1. HIGHEST AND LOWEST PRICES, The following table shows the highest and lowest prices of the principal stocks during the day :— oon York Central. rth Northwestern preferred. bag Isla Paulas: 55 56 St Paul preferred. 16 i Ohio and ippi. «+ 43% 425% Union Pacific. 30 B86 G. 0. and I. ©. 35% 84g Western Union Telegraph. 63% Pacific Mail.......... 6835 SALES AT THE NEW YORK STOOK EXCHANGE, ‘Wednesday, Sept. 25—10:15 A. M. Oo UE Oe at, i $1000 US 5.20, c, "68. 15000 US 5-20, ¢, ‘BS 113% “1500 U 8S B's, 10-40, 10000 di 113% 1000 US5's, 10-40, 8000 US 5-20, 6, 1670.05. 1187 10 A. M.—Before Call. 100 she LS &MSRR.b3 88% 0, 0. 3 BG an) a 0 bo 0 109 Sere PER BOO 69 $ 200 3B 200, 33} i” 8 ety $s 60% 403 h = 4 eases co SS a = mae Soc E588 z SSESSESSSSSSESSSESESLESES. aaa 400 40 too a Bs 100 8H 30 80), 100 n » 3, WO fase HERALD, THURSDAY, SEPTEMBER 26, 1872. oo ? & a ii ETT A. M. E oof e esos: 22 € Hs CESSES SES! aUSUEDUEUEUEDEQEROEROEEEE O28 SeeT EEEEGEERE if 3 22 oCeppepeeserasanage: SSESSSSSES: ee 3 APIA es SESESESEESTE! SSSSSSSESESSEESE S SSSESSEESSSESESSESESSELSESES Bs SESEELESEZES EES = SEESEE! e' a SEsé 60shsAmMUnExCo 70 80) West Un Tel. 100 do. a BS COMMERCIAL REPORT. Sqrerqnmaiewrinemere Cotton in Good Demand and Firmer—Re- ceipts at the Ports 8,449 Bales—Bread- stuffs Quict and Unchanged—Coffee Quict—Freights Firmer — Petroleum Dull—Provisions Quict—Spirite Tur- Ppentine and Rosin were Firmer—Whis- key Closed Steady. Wepnzspay, Sept. 25-6 P. M. ‘The markets were generally quieter to-day, and the ex> ceptions to the rule were few and unimportant, The cotton movement was about the same, though the market assumed a firmer tone and prices showed an improve- ment. The movement in breadstuffs was slow, being re- ewig by < rates of freight and a scarcity of tonnage. are reaping a rich harvest J now all Sol buitab! for the sak bas oe 2 soon ag they arr ve. an Tn anmetous a ‘val, at very full Bie rat 8 Beene he Tr both steamers and Soe! ‘at cood paying ring the Fete The ter pas a Gee a we ae peck yy rotectio a of pepe Bans civil war, js now in onde dour ‘was dul heavy, while wheat was on ‘Unsalable to any extents ret BElces were wi ines mateworshy. change, Corn was Hoss active, but the | market, was, nevertheless, shade firmer. Whiskey was firmer and pur- chased more fre The dealings in pork continued unimportant and fhe market was sill nominal, There tritling improvement in lard, however, but the ac- tual transactions did not indicate ay ad jut little transpired of Importance in the ry Pat Refiners of sugar are pretty well supplic irgely only at @ concéssion in price: articles were very quiet, but steady, The market for refined ote showed no fmprovemant, s bus gs crude tended upwi count of a firmer the creek. In aaval ‘ntores there was compa atively little accomplished, but the market was very strong and closed decidedly higher. Bie movonrey in dry goods continued iair, while price: Corrur.— The market remained quict at about previous figures. Bales were meade at atiners t 4,000 bags Rio, ex ‘Joshua King. and 608 bay ou rie yate terms, re Pariah: f ae ee) Java, nite Corton. <The market continued to rule firmer, and ‘ith a good demand from exporters holders were enabled to recure anadvance of about 3c. per: iD. to which tm- Provement we conform our, quotations, thé market clos. steady, Futuro deliveries were fairly active at better 8, gloung Cag on the basis of 18%c. for September, Inigo! for October, I8s¢e. for November and 1834¢. for De- cember, The sales sum up.as a8 follows “ist ‘Last Beentng. ai Totals... 1,565 717 —For future tielivery ‘diasts ow middling t tho sales nie been as follows :—Sale: evening af "eloe! te Wnt, 187 10o, 100" at ase Oo. ee at 181-166, iovember,, 1.600 ‘000 at 60. ; Dect embers rgb av IB 16. ani ae ona 8 100 ny Avec, 10 0 at Sees af ales, Sales to dag to, Cc. 700 ai 100 at 189.160.’ Januar Hog’ ', 200 at 193¢c., 200 1, 100 at” 1b 15-1 203 "bc0"‘balde” Grand tal, les. Rat on ‘cotton to foreign ores cloied firm, .as follows:—To Liverpool, by. steam, 4. 5-16. a to Magra y seam, le. Kes fe hamburg by y seam, 244: fo" Bremen, fy sia ees compressed ; to ports, by sall, tc. gold) diterranean ports, by steam, 164. The Tecalpts at the Savannal » fate uEhinrtenon: 1608; avant by Sharleston, 3" Norfolk, 7 ‘otal This ‘a "this day last year, 438 We auotes Uplands. Alahama. Now Orleann Texas, 18 18} 18) 1843 18% 187%; 187 194, 194, Ge 19 ay 20% ithe quotatlobs are based on cotton in store, running ia quality not more than half a grade above or below the grade quoted. Norx.—At a meeting of the members of the Cotton Ex- change, held to-day at noon, jt was resolved to open the Fiovn ans Gaiin.~ ecelpts—Flour, 12,360 bbls. | wheat, 122,845 bush 15,260 do, ; corn mei, 960 bbls. 5 0 ley, 1,109 do. ‘The flour market w 26,025 bus bar! Guiet but steady, ‘though ‘No. 2 and supers tended in buy- ers cen ‘The sales since our last aguregate were 11, bol eaprising 2 all kinds, Corn meal was in limited demand and stead: Pa We hear of tales 250 bbls. of 35, We quot Round hoop Ohio, Fount hoop Ohio, t esses brandi rade i ‘brands Second Board—1 P. M. 200 shs NYO &HRR.. 100 do. asefeyeute 8 SSSSe8ss 3 Ret ri = ey petereteteiiy SeUBQEHSZEREE pecerecceeert Begeus i eae ee8eEeceese SEuUeESseue eee co a fe, is at = Zz Be S28e, 2 4 SESEEE E8EESe= Sugueg 2 ZELSS BESSSBeSSRee: S855) & DEPP PPEPEREEED>DEDEPD>D wwniorsccmened: Sea ceweraan Doce eee YF SRRSSSASSRESSSRASASRSSS Si ap SOSeSassscsssssussusraaSs t. f. 0, Hat tnhchianged. “intact some of eh at better prices, though atthe close the avy and nearly nominal, The sai rt last evening) were abo Dusheis, at $1 40.9 $f d0de for Inferlor Chicago 8 Sprit, ven hicago, $1.54 for cholee do. oF choleg white Michigan, § for car lots of amber Indiana and $1 65 a $1 70 for red Winter Western. Other descriptions were entirely “nominal, Corn was firmer, but Jens active. The sales foot up about 171,000 bushels,. at 650. for mixed sail, ¢4! Giase. for do: steamer, 66: for hight mixed Western, oe, or do, yellow and Gio. a Oe. for inferior to choice “Included in the sales are 8000 bushels for last hait Of October at Sorge.,_ Oate were dull but without material ghange in prices. The sales were al ee 40,00) bushels, at = ir black Western, c. for new mixer Western ‘and: oe for choice hite, id, in store, was of- Barley and rye were noml- 8. There has been an active demand to-day for accommodation for grain by steam, and rates closed de- eldedly firmer. For other produce 'the rates were firm, but the inguiry for room paly, moderate. There were many recharters for grain, and the demand con- tinued fair for vessels for almost all purposes. Rates, in some instances, were a little off, but generally the mar- ket was frm owing to the sosraliy of available tonnage, The engagements comprise y ster aM bie end’ 105,000 bushels of grain at 11 for wheat, closing at the higher rate; 500 bbls. flou £4, 1,800 Goxes cheese, 45e.: BO boxer ncon at de. Aw , 7,900 bushels grain 10d. a T poses bacon at 40s. The charters ind fude :—A colonial bark, 3, ees, ie to a direct Irish port, at 8. ; ‘a Norwegian bark, arters grain Mer eth to pale) for orders at'8s. 4 Norwegian bark red), same voyage, a 64.5 lor chartdged 2, a ters grait ied. a Swedish bi hen oe 10 Cork for Kin dom, or ne bbls. of nay nha it United Kingdom and if to Continent; a German , hence to Cork for orders, to the United Kingdom or Continent, 1,650 bbis. of yerne troleum at 7s., or 73. 6d. flat, according to port; a Britis! CS tor now on her way), from Chai pool or Contine, full carg according to for grain on aval of cotton at 17-330, gr auc Several other vessels were rechariered ppaee of charters previous!; ven. ete e has been no trade o importance to- aay beyond a limited emeaenee in domestic, which realized full prices, Cyba=Contrifugal and mixed ee oa. Waxovads, redatag Muscovado, grocery Beith Yaad. New Orteans. Nav, Pe wise firmer and te! strained Brought @4 40; but there was litte ty be had at therclote at SSSSSSSseees § SSeEss! & SSIS AISA ese Ses S| Se ey SSesesseezes PPereeerere ee 2 =, SSSUSSERESERESSEES ee 3: ¢ a . hic & NW RR pf. do. . et Ss: 2 SEGRE SSSSSSSsSsee Sa Bos, i & Erie RR... Oh as RR SSSESSSSzS that price. Tar and pitch remained quiet and witnout re- Ported change tn prices. ket for refined remained very duit, but twithoutan any material change in prices. We have only ton 1,00 pols. for early delivery at24}¢e.. at which pee | the market closed. nyminal, Grude bulk, although qulet, was held decldediy: firmer, no par: tleular cause being’ assigned for the advance; uy bid for prompt delivery, but there was nothing to be had under 120 and even at this figure, there was sue tittle offering. Gases were very heard of no transactions: Naphtha w tiderable confidence, being quoted at , and the market re- mained nominal; reflued quoted at 23. for spot or remainder of month. Fnovisons. Receipts Pork, bbls : beet 28 packages: gut meats, 204 do, ; lard, 175 bbis. and tierces, an 3. The market for mess pork continued dull and without ap- Parent change in prices, The bide tor remainder of 4, but holders were firm and about bls. changed 14 re $14 1254 for mes: and $142) for special ‘of do. Bacon continue quiet, with” more “anxiety manifested to. realize gn ‘long, clear. Bules 900 [boxes at Bic. hich was, easier, | Drassed, hogs," were ensy at 650. @ Tie. for extremely hea’ fo pigs. Bec! remained quief and unchanged. & moderate Jobbing business was consummated, but otherwise nothing of bn portance transpired. We ‘quote —! eas, $8 ; extra do, $10,081; pHlane seas, tekees, $n jana indi sine a $20, Beof haus were nominal at from $20 to ted but ittle attention excepting in were pl ms, te Kied hams 12440, adc. ie, age, r bo: . Gasy at 874¢. : sales of 1,000 terces for September at tthatprice ity Was dull at ahee., with gales only of 25 UGAR. 1 a ee in rary sugar to-day has been ve) ea but we ‘hear 4 Ro omental nange in pr a. We ie pl omnes oF GN Abe refining at ae eRe. bagi} iigeand at nds, descrip: SSSSSSSESSSSESSSESE “om CLOSING PRIOES—4 O'OLOOK P, M. tion” not ih on. «private jerate! lemand an, nites bu at att ie dird 4 ‘ommon THC. n Bits fair to, good F ‘00d ‘to prime, 940. & wie to ral fin’ ra htde, an Hitvana~ Box ti nah, of of Patna at7%o. and prices, in the —TRIPLE SHEET, Rept Rete 500 at at 186. at 18 9-160, e-; Getober, 100 ae 8 tet6e, 80) at Bye, ‘at 183¢c., A Tastee 10 a 800 at 18 ats Si. 100 a Be 18. 100 at 300 900 ry Mss CH 18 5-1Co., 700 at 18%¢., 300 aby over: ber and December, 100 ¢ a Decem- er, 100 at 18740. 100 at 1 TaLtow continued firm. Tho sales fc nance ha mama oe va ne orga pts firmer at ne pening, ba but subseque: ly at The sales bbla. Je» EhleAy at tho es at oe cloaing at DOMESTIO MARKETS, Garyzston, Sept. 25, 1872. Cotton fi A ordi N 42 ‘or ymens peed os we -r Ue. Net Mosclote 1 that price. vmihdivens, site Sn Ne ie receipts, ge tings ‘s, at ‘eee bales; gross, ft \VANNAT, Se) wie sage a iitings 80% miaa pot pitted 2.49 Dal Sen oor Teh ates 1,85. cis Monts, Se ¥ . 28, 1872, Het, but f ddlings, I8e. & 18%4¢; low mid- een in itige a sais wat bates ‘Bxports cage $4 tor low ms 2% for No. 1, $6.50 for tn rr BA pale, for pale. Crude turpentine Hendy at 25 for $500 for yellow dip and virgin. jeady at $310, Seiniinn Lake imports Flour, hee wet as ley, Cana she fa rushelsy cons, $2228 do. ay 000 do. mee yn from élevators—W peas napalas col do.; parley, 14 Sol, do. Canal Frelen Wheat a Bers bata, 7340. Be es 5 rn ‘ “ern ean ine. amber, sales in femal 10 raubeo Ni 2 soning at $1 juoted, Milyaukes, of a prin ass i dla Cort a Gates of prime yellow: at Byes Monod budhels Nod at 8c. Oats lifeless and held at Flour steady salen of 2400 Si ra Poe J Goring. $9 ber iD ter white dos ouble extth, Wheat dull; sates ot 400 bush on x Hlwaukee club at $1 58, 5,000 do. whits Canada ane one oar yee tate at $1. Corn dull: ; sales oe bushels ai Barley nominalt: Ks ond fa 1 07. on meal carn Flour steady ayy Spring extra oy gxtra, $8 0 a wr 2444 a'$1.26; No. 2, Spring, ri agi . Aarne Shag ecording to location. a 0 rn ms 0.'2 mixed, $4376. Bio, mn. Corn dull; ixed, 3434 rding cash; tober; rejected, eo Nee Schgh mixed Sater Ona dull and i jee’ No’ Rye ateady od’ demands No." Fall, de Pork—Demand iets holders fmoat $1435 0 mgis‘t0; sales at $12 79, DUA. EUROPEAN M EAN MARKETS, Loxpox Moxey Manker.—Lonnox, Sept, 25-6 P. M.— Cantste Slonea uachanged” Amerioas securities quist and Heady quctations unchanged. Erle, ‘Gonsols opened at. 2% for mone} megount, Talon Saree Aves an aig: 1867's, 92; ten- forte B75 ne new fives eins eBovusk.—Pamis, Frat RYORT Bourse.—Franxrort, Sept paited Ard five-twenty bonds opened ke 4 Mort the faane of Ss LITHRTOOL, Corton Manker—Lirenroot, Sept. 26—5 P. ‘The market closed unchanged, The sales of the day Deen 12,00 bales, including 4.000 for speculation rt. Mid Ring ju) plands, 9%) a 9d pier ean Orie: sh, scanning please, Oe bw of middling Orleans for November at Sica; Of middling uplands for October at 94d.; of middiing’ uplands for ra Liveuroot, Bkxapsrurrs | Manert—Livenroot, Sept. 25-P. M.—The market is quiet and steady, LONDON PRopucR Manxxr.—LoNDoN, Sept. 26—Even- ing.—Spirits turpentine, 438. Gd. per owt. ‘Tallow, 40s. 3d. er cwl PorermOLEUN. MaRKET.—ANtWERF, Sept. 25—Petroleum, 48f, for fine pale Americai ———-+—__——_ , FINANCIAL. TTENTION OF CAREFUL INVESTORS, Itis seldom that mortgages ges upon new railroads are con- sidered sufficiently safe for the investment of trust funds. It {s only when a railroad is earning, net, an excess of its interest obligations, with a certainty of a steady growth, that its bonds can be sald to be perfectly sate. The CHICAGO, DANVILLE AND VINCENNES RAIL- ROAD is doing this and has this certainty. Thatpart ofit known as the IJinois Division (from Chicago to Danville, 182 miles) was finished 1ast year, and its gross earnings have increased from $34,404 07 in December, 1871, to 957,587 95 in Augdst, 1872, “But to show that the bonds are safe now, without depending upon increased earnings from the Illinois Division, or upon any earnings what- ever from the Indiana Division of 80 miles (although it {a believed that the special coal and other trafic of the latter will make it the most profitable part of the road) let us consider the figures for August: — ‘The gross earnings on Tilinols division ‘The operating expenses were Net oarnit August, The net earnin, ‘132 mile: STi « “$90,402 46 for twelve months on tthe same rate would 384,949 52 ea o00 bonds on Till division fe. +) adit 12 per cent premium. Total currency Mability. Surplus.. Interest on 509 bonds for one Sheedy in gol 2 Add 12 per cent premium... 12,600 division: Tr othee words, the Nillnois division is already ‘eartons net, more than ‘enough to pay interest upon the total isatie of bonds upon both divisions, ‘The iron and other materials for the Indiana division a part of it ts now in operation, and the entire division is to be finished this season and opened to a profitable business, Taking this traffic at the saine rate per mile as the August earn- ings of the Iinois divisi di making no allowances for the natural increase of business, the total earnings of both divisions would be On IMinols division (132 miles) $691,056 40 On Indiana division 60 miles) 418,821 43, Gross earnings. $1,100,876 83 Operating expenses (allowing 0934 ‘per cent, e actual rate vee 698,084 10 Net Earnings. $516, With which to pay $380,000, gold, interes aiia a®dividend on. ithe Company is not in debt, and owns .alarge and very valuable real estate in Chicago, beside, having an equip- ment of 28 first class locomotives, and about 700 cars. A first Mortgaye uvon such a road, atthe rate of $18,000 per mile, isa sate investment, and'we know of no other railroad Bond, at the price asked for this, that can demonstrate a similar value as a security for savings banks and others. We have sold nearly two millions of these bonds to say- ings banks, trust companies and the most careful invest- ors, and have but $460,000 bonds remaining, ‘The price for the present is 90 and interest from Oe) any currency. THOSE RUBSCRIBING. FOR. BON URE OCTO- BER 1 when the next coupon te due), will have the bene- fit of the GOLD PR: THA! the lant ‘week. of our anlew of Tinois Division | Bonds amounted to $500,000 | Early orders are therefore su fais {in order fo seoure any portion of tht romely ie glad fo,upply any additional information, . CK & Bankers, . 23 Nassau strech, New York, General Agents. it Mesired. TLANTIU SAVINGS BANK, 185 CHATHAM Poe, “AND "02 NEW BOWERY, ‘ork. eng, ceposey on or before October 1 will receive in- terest as trom that day. INTEREST WILL TRE COMPUTED MONTHLY on sums of $1 = ada NEY TO OND AND MORTGAGE in Rew Sork, Brook 1 New Jersoy. Principals only y apply to SAMUEL 8. WOOD, Jr., ‘Broadway, MORTGAGE FOR $0,000 WANTED_ON PROPERTY in New Jersey (improved), worth over $20,000, ‘The audscriber will insure for $5,000 in any life Insurance com- pany, that will take the above mortgage. Address B. W. box 889 New York Post office. —A.: mar? —A.—PRINCIPALS AND LAWYERS + - hav! zie oney to loan on bond and morgane can oa ‘iva class applications by addressing S. A., Herald off sam AND MORTGAGE —MONEY TO LOAN ON Improved property In this city, and Brooklyn in sums of 3 §8i3 Maras; no bouus, Principals apply to HAYES & ‘SONS, 81 Cedar street. or OF NEW VORK, DEPARTMENT OF FIXANCE, Coxrrnoutsn’ 's Orrice, Sept. 28, 1872, Interest on City Srocks.—The Interest on the bonds and stocks of the city and ‘county of New York, duc No- Yember 1 1872; will be pald on that day by the Chamber. lain, at hi ¢, in the New Court House. The transter, Books will be closed tron September 28 to November 1, 1872, ANDREW H. GREEN, Comptroller. (NIRST CLASS RAILROAD BONDS. We offer for sale a limited amount of the Leavenworth, Atchison and Northwestern Railroad Company's First Mortgage Seven Per Cent Bonds, interest guarantecd by tho Pacific Railroad Company of Missourt. ‘The Bonds are due October 1, 1999; interest payable aan land October 1 at the National Bank of Commerce. hole amount of the loan The road runs from Leavenworth to Atchison, Kansas, 21155-1000 miles, and isleased to the Pacific Railroad of Missourl jdt December 31, 1839. By the terms of th lease the ‘orth, Atchison and Northwestern Ri road tinan $42,008 per’ a cent of the gross earnings, but ne re nnum. The Pacific FRallrond of issourl agrees to. a depostt the semi faa ae on these bonds in the National Bank of Comme; The road has been in operation under this ‘lense for the ecan, thereforo, confidently recommend these bon asa first class seourity in every pegaect and advise Yestment In them, as we are enabled to offer them at the low price of and acc aeory 28 Br street. Be aie ORTHRUP éut K, No, is = street. R BAI erring RET MORTGAGE x T $200 mm unimproved. prope Foes SCHMIDT, 6 Braud setect cy. Sty [oyes ‘& MAOY, BANKERS, 30 WALL STREET, NEW a , offer the oo facilities to eRe ysitors ax Incor- porated banks, an terest on daily balances at reer Sea tee hee oat nerlat Bites sake Beale ce ac TUTION , louston street, Rom ie", near Ut M. ‘3 rand on Mondays ents eas nd Wadena vom m 10 to its made now or on Sotober 1 will draw Thre Be aoe Ny Present, Hanay 0, Fisusn, Secretary. FINANCIAL, UBRAY BILL BANK. foot. 4 The Directors of this bank have inn. day daa fe Gtvidend of $4 per share, share, payable on and at Setober f 1872, The transtfe: Proxima. FOO AMES OTRIKER, Cashier. NEW ork ee LOAN AND INDEMNITY COMPANY, 229 Broadway, corner of Barclay street, New York, AUTHORIZED CAPITAL, $1,000,000. Capitaliots and the business public. = Subscription books ‘Will be opened on MONDAY, SEPTEMBER 2, at the banking house of the Company, as above, and at the National ‘k Bank. ‘The charter of this Corporation 1s unusually authorizing the transaction of ¢ of a GENERAL BANKING BUSINESS 8 well as that usually carried on by Trust, { and Warchouse Companies. Termauent organization of the Board will when the tull capital mer Taye been sa on YC G0. He BISSELL, ( Committee, A. McKINNEY, | "S FFICE OF THE INTERNATIONAL RAILROAD J, ompany of Texas, 82 Wall street.—Now York, Bept Yrhe coupons of the first_mo bonds of this come’ any. sealing ing due on the Ist of ‘Setaher, 1872, ay oF Re ireld a (rg attend date, at the National C! w sg seapinar oe ¥. SANFORD BARNES, anode EYENUE STAMPS—ALL KINDS IF PERFECT; ALSQ Documents, such as Checks, Stock and other Baie ates Insurance policies, &e.t ‘Mutilated Currency (at low Fates) bought by ANTHONY, 44 Wall st., box 4,475 Post office. | gure OF GEORGIA SIX PER » omg PAST DUB © ‘Bonds wanted.—Particular attention gti yn to the collection of Conpens, aes peumrene the Goaw Orders ‘est comm! as bts OC SOHN B. MANNING, No. 6 New street. RUST FUND OF $150,000 TO LOAN ON NEW ons City, private Bwellinas nd Store Property 5 yjpan art of Brookly: pt uWPMbox'sip New York Pout ofces TED—A FEW GOOD CITY SECOND MORT- ages; one to two years to run. pares wishing to sell same may call at 64 Wall street, room 1 000 te orwhich twill pay: Sor 8 per mont of whic! out of rents, with ample security fo rr prinetpal.” ‘Address T.F, D., Herald office, — },700, $4,000 TO LOAN ON FIRST $6.000 J Norte on fiproved city property for loan in several sums on real estate col- Tsternl, for'vines. ore ninety days, to builders or othere, Apply at 115 Nassau street, room 19. $8. 000 Ge vane FOR THREE YEARS ON ‘oop Me LEN BROS., 73 Duane street, $10. 000-F, $12,000 TO LOAN, ON FIRST lortgages on City Property; also money to purchase First Mortgages. A Jareod 4 ATTORNEY, box 7 Post office. $15. 00: WANTED—ON FIRST MORTGAGE, CO- Iumbta College Loave. Address, stating terme, COLUMBIA COL . Herald Uptown Brancl oftice,'1,265 Broadway. $100. 000 TO LOAN—IN SUMS TO SUIT, 0: New York, Brooklyn and Westchester for Property; alsg funds to purchase Second Mort- / value by the old managemen' MeSTULPMAN BROTHERS, No. 8 Pine street, basement. #0 LOAN—ON BOND AND MORT. $150,000 Balai ae: ibrondway, F AS basemént. io TaART BUMS TO SUIT, ON $400.000 Westchester or Oity y Read ets am No Montauk Insurance Company, 168 Broad _COPARTN 'NERSHIPS, Oe eiers EXISTING { OPES THe ‘have name of Boyd, oR “4 Con is pth day d by anutual consent Jol ae Grath. The Dasines of sald’ a Pagonducted as heretotore under the firm name oH Si iianed) JOuN ae N 25, 1872. INO. J. MoGRAT THE ERIE RAILROAD. ——— Letter from the President of the Erie Railroad Company. Enix RalLway OFFICE, New York, Sept. 25, 1872, To THE EDITOR OF THE HERALD:— So many misstatements have recently appeared in some of the city papers as to the present condi- tion of the Erie Railway, that I have to ask the inser- tion of the following corrections of some of the more prominent errors that have been brought to my notice :— Firet—It has been stated that the earnings of the Erle Bat rey nay from March to July, 1872, were $1,105, less than the earnings for the same comparative period in 1871. In fact, the earnin, for that perlod—viz.: April, May ‘and Ju: in 1871, Were $4,195,820, and for the car haa in 1872 priate ica Ue or $593,952 increase in 1! ond—It 18 alleged that the faesweka of this’ cannany have been sacrificed in favor of the Atlan- tic and Great Western Railway. In fact, no ar- rangement, contract or agreement has been, on ny account, made with that company, save that we pro-rate on business with it, as we do with all connecting roads. Third—It is stated that the present officers of the Erie Company have consent to the revival of a claim made by the Atlantic and Groat Western Company against Erie fora large sum. caivar of are these :—Jud; igo, Hitchoock, of Ohio, Recetver ot the Atlantic and Great Western Railway Com; makes a claim against Erie grow1 out ol ts lease of 1870 of the Atlantic to Erle. claim is not admitted, and is now being honestly and ear- nestly contested, and for that bikes eminent counsel in Ohio and in this have been em- poses by the Erie Company, at the instance of Mr. arlow, Who was unable to act for Erle, ag his firm be previously been engaged for the Atlantic Com- ny. Peourth—Tt is alleged that the Erie Verte A patd large sums—stated at over $750,000—t6 the parties who secured the removal of the Gould man- agement in March last. In truth, less than $80,000 in all has been paid for expenses, and to various counsel and agents in New York ai op dalersin fo; ae service which the stockholders ped cele! importent for the proveetion “of their ‘ests. Caen sum eee pald to the @ of Barlow, Laroque fariand, and no oth payment has been ads to that firm or to any Vs its members. No other sum has been paid bj company on this account, nor have any, | det ied {agmen or vouchers been presented, so that a Serres ment could be formed as to whether it would just es | Ves that the actual disbursementa incurred jose Who 80 successfully intervened in this matter vaboud be repaid. Fisth—It is stated that t bonus of $900,000 hag been paid to Messrs. Bischofsheim & Goldschmidt, of London. This statement is jeaiy, untrue. By acontract for the sale of cert Erie securities which were pledged at fifty per ‘cent on their par, and which had been sold in large amounts at sixty-five per cent, that firm are to be paid Cok ordinary bankers and brokers’ comméseton. They have sold about $4,000,000 of these bonds at rates varying from ninety-seven per cent of their par value, and have earned two and a half per cent commission on oe sum—namely, $100,000—and no more has been Sixth—It 1a asserted that the floating debt o us a Railway Com pa, on the 1ith of Maroh last ‘aS $6,463,608, and is now $13,273,149, ‘After ap > piying ne roceeds of the sales of bonds by Messrs, ischomfsheim to the doy te, of large items of actual debt, incurred Sg Poe gee pe not embraced in estima’ of , and also to the parment of 1 gi Lathes for real estate and for the completion of tl Newark and Hudson Railroad and other Vd aeaed of conse the floating debt to-day does not exceed $3,500, d, therefore, has been reduced nearly 3,000,000 since March 12. To meet this fostive debt the Cee! holds available securi- ties of the par value of over $5,009,000, worth at least $4,000,000, ) Without attempting to answer all the absurd and reckless statements affecting the Erie Railway Company, enough has been sald to show that those statements have been inspired by no desire to make known the truth, but rather by the hostility of those who have ceased to control the affairs of that company and by those who wantonly assail it for purposes of speculation. Yours 1 President Erie Railway Senator. The Erle Railway—Appointment of . Oftcers. The following new appointments of oMcers on the Erie road took effect yesterday, by order of H. D, Pratt, Superintendent of Transportation, and approved by A. 8. Diven, President:—R. B. Cable, General Assistant Superintendent of Transporta-, tion; G. 8, Reddington, Assistant Superintendent of ‘Transportation, ‘With charge of the Eastern and Delaware divisions cnd branches, rae Ww. Ca Acting Assistant Superintendent of Tran Satay lon, with chi As ad jusquenapna ang Rochester divisions and ) lor, Assistant rasrinvendent, witi gues ‘of the Western Gnd 10 divisions an Tules and regulations and ly dws mn and special orders, relative to the movement ol ‘alns, bution of care and ernment moruien "connected with this de ot, tinue in force until further notice,