The New York Herald Newspaper, January 15, 1875, Page 9

FINANCIAL AND COMMERGINE The Stock Market Feverish and Lower. GOLD DOWN TO 112. Money Easy and Abundant at 21-2 a 8 Per Cent. GOVERNHEXT AND RAILROAD = BONDS STRADY. Watt STREET, THurspAyY, Jan. 14—6 P. iu} The stock market to-day was generally fever- ish, and under strong depressing influences, Lower prices were in some instances estab- lished than have been pubiished for many months. Whether these are obedient to natural causes or to the trip-hammer pounding process of a few parties who seem to have uninterruptedly exercised tneir power over the market for the past few weeks is @ question yet to be deter- mined ; but it 1s not questionable that the present low figures are beginning to invite those who Possess capital and, are inclined to take their chances for an advance. It willbe dangerous, in more senses than one, AN ANALYSIS OF PRICES. The following will show the changes in princi- pal stocks:—Atlantic and Pacific Telegraph opened @t 28, advanced to 29, and closed at 28%, This Was one of the leaders ofthe day, and subject to Much comment. Western Union, however, was chief of the market in point of transactions, and after opening at 7534, sola down to 73%, ending at 73%, without much recovery on the open- ing figure. New York Cenirai opened at 101g and ended at 101. Northwestern common Weakened from 4534 to 44 and closed at 4434. Pa- cific Mail fluctuated between 34% and 3514, clos. ing at the last named figure. Hannibal and St. Joseph disappointed some of the parties who | have becn recently holding its stock by receding nearly % percent. St. Paul common was firm at 875 @ 374¢ a 87%. The preferred stock sold at 59% @ 50g a 5954. Erie sold at 297% a 28%. Union Pacific at 371% @ 37 a 36%. Lake Shore obeyed eertain speculative infiaences and retired from 75 to 7434. Atlantic and Pacific preferred sold at 174417. Wabash was comparatively steady at 1854 a 185, 217% a18, C., C. and I. ©. ended at 9%, after opening at 9%. Ohio and Mussissippt lost only 34 per cent, opening at 31 and closing at 80%. Pacific of Missouri sold at 5134 a 513; a 50. Chicago and Alton 105, THE SALES amounted to 251,000 shares, which may be gener- ally distributed as foillows:—New York Central and Hudson, 3,700; Erie, 20,200; Lake Shore, 46,700; Northwestern, 33,400; do. preferred, 500; Rock Island, 1,000; Pacific Mail, 13,400; St, Paul, 9300; do. preferred, 600; Ohios, 5,100; Western Union, 85,900; Wavash, 7,100; Union Pacific, 13,500; C., C. and I, C., 400; Panama, 500. HIGHEST AND LOWEST PRICES. The followiug table shows the opening, highest and lowest prices of the day:— Opening. Highest, Lowest, New York Central. 10135 1013g 10L 5 6 29% 28% BO 3 Ww 45% “4 61 6036 102% 102) 873¢ 37 59% 5834 31 30% 107 307, Ww7% 107% | 876 36% | 9% 9% | ior 13% 29 27K Pacific Maii 353 34 Panana... 1 ni ADVANCE AND DECLINE, Compared with closing prices yesterday, those of today show tne following important changes :— ADVANCE.—C,, C. and I. C., 44; Pacific Mall, 4; ea 1; Atlantic and Pacific Telegraph, 13,3 Janwon, 3s. DEgCLINE.—New York Central and Hudson, %; Delaware and Lackawanna, 4; Erie, %; Hannibal orthwestern 46; Rock ion. 443 and St. Joseph, i Lake Shore, \%3 common, 154; “Oh Pacitic, in London, 3 10 and Mississippi, Island, %; St. Paul, 4; Wabash, %; find Fd Western Union, 134; gold, %; Erie The stocks that remained steady were North- Western preferred, Panama, Harlem, Atlantic nd Pacific preierred. THE MONEY MARKET. Money was Generally easy and capital was abundantly offered at 23, and 3 per cent. Com mercial paper remains about as last quoted. Sterling exchange was firm. Prime, nominal ates, 4.8634 a 4.90; selling rates, 4.85% a 4.86% and 4.8934 a 4.8934; Continental, firm; Reichmark, 95% 295%, and 96% @ 967%; cables, 967% a 97; prime Paris firm, 5.13% @ 5.11. | THE GOLD MARKET. Gold opened at 1123s, but obedient to the reduc- tion in the rate of discount of the Bank of Eng- land, receded to 112 at the close, It is generally understood, however, that other influences are at work and that the decline is not altogether the result ofthe cause above suggested. The rates | paid for carrying Were 2, 3, 21s, 314 and 4 per cent. At the close loans were made ree of interest. OPERATIONS OF THE GOLD EXCRANGE BANK. Gold balances... $1,529,792 Currency batances. 1,899, 708 Gross clearances. . 34,014,000 CLEARING HOUSE STATEMENT. Currenvy exchanges. «$77,210,984 Currency balances... 3,091,250 Gold exch: es. « 11,158,323 Gold balance: 1,602,441 eS TREASURY. The receipts {rom internal revenue to-day were 500 $400,902. The customs receipts were $265,000. | 2700 The total payments by the Treasury on account of the January interest to date are $12,966,000, The Assistunt Treasurer paid out to-day $400,000 on | 2400 account of interest, and $576,000 in redemption of five-twenty bonds. National bank notes received for redemption, $600,000; customs receipts for week ending Janu- | ary 9, $2,250,000, THE FOREIGN MARKET, London advices state that the Bank of England , {000 bas reduced its rate of discount from five to four percent. The amount of bullion which went into the Bank of England on balance to-day was £12,000. Erie shares, 26%; a 2614; Erie preferred, 44%. Specie in the Bank of France has decreased 1,964,000 Irancs during the past week. Rentes, 62f.12}c. The builion in the Bank of England increased £148,000 during the past week. The proportion of Bank of England reserve to iMabilt- ties 16 4534 per cent agatnst 43 per vent last week. Consols for money, %2)4; do. for account, 9244, Five-twenty bonds, 1865, old, 107%; flve-twenty bonds, 1867, 1074; ten-forty bonds, 104; new loans, 102%,eX coupon; Erte, 26! erie preferred, 4446 & 4534. RAILROAD BONDS were generully firm in the late deallogs, with the exception of Wabash seconds, which sold at 601g against 62 yesterday. Central Pacific bonds closed at 9834 to 9334 and Union Pacifica at 9155 to 91% for firsts, 90% to 90% for land grants and 81% to 81}¢ for sinking ‘unds, New York Central sixes of 1887 advanced to 9944; a small lot of sixes of 1883 sold at 101, ‘Ihe following were the latest bids:— Alb @ Susq Ist bai a sich 0 &N Tet? pe.105 Alb & Susq 2a bd: thi Clev & Yols Ls 102 Clev & Toin 100% Clev, P & A old bd: 100 Bos H & i, guarani’d, Clev.P & Anew 10036 Bur, © Ra M Ist, 7’s,gt 4 Det, Mon & Tol... 101 Ches & Ohio 6's, isi m.. 45 utr @ Erie new. LOL Ches 4 Ohio Gs, exc... 37 Bull é state L7'8,....,1W0 Chi & Alton sink tund:i0) Lake shore div bia... .100% Chi & Alton is 106 “Lake Shore Ist, conc. .101 Chté Alton mcome... 10036 Lake Shore Ist, con r..1UI3¢ Louisiana & Mo Ist, gtd 95, Lake Shore 2d,con c... 91 SUL, Jack & Chi istm. 7% Lake Shore ¢ 2d «hy Bur & Qs p 6, ist.bl a Oht Bur & Q con Zs. . “101s hi, Rock Island & Pac. 106% N JUen at m, new... 109 RJ Cen Ist cons.....°. 103% N J Contrai, convert. 105%, New York Cen 6's, ' a Mil &8t F ist 8's, PD. .1063, New Yo “en 6's, sub. 96 Mi t8t,7 3-10, PD it, NY Co . x 's, gold, RD. KO” ON Yor« Cen letm.o Lt Mi Ist. La OD. B44 Mud K7's 2d on, Bf, 180 106%, Mi iat, L&D... 72° Hue es 3d m 7B... 10L Mil ist) Ha De” 72 Mariem 7's Ist m. 6. 109% Mi Istm.G & M80 Norsk Missouri Mat ma... 8355 NEW YORK HERALD, FRIDAY, JANUARY 15, 1875.—TRIPLE SHEET. 100 M&st P RR pt Mil & St P2d m, C&M 76% Onto & Misscon 5 f.... 93 G Amer Ex. sbe 19 Chia Wa f. 1s Ohio & Miss consol 6.1 do 20 tol WK. sbe 1836 Chi & N Wintbds.....170 Ohio & Miss 21, con 75 Adams suo NOseee 18 Chi & N W con bot gM Cen Pac g ponds, | iigd bac M. 00 a0. n% Chi & 8 W Ist m 99 Cen Pac, San J | 09 do. 200 Ohio & srebe 30% Chi & NW coug & 0 Int, | 300 do. WwO,CHTC.... De DS I 5 oes 2) te al | 49-10 | 400 ve ig 100 Pac RR of Mo...be Side efile Lon | ig yun Bac ia. a8 2:30 70.4 P.M ‘e Thion Pacific st #1010 Ohi & Mise 24 pats CHLENW RR 4, ist. ‘Suu © & ec gb. 21 i » 9000 Tol & W Ist, St “ant Pac iit Ps wed 40) shs At & Pac'Tel... 29 i's Pitt, FtW 4 ot Morris « Pitts, Ft 4 Morris & ; i orris & Es. 19. Morris & Essex, cost, sats Morris & Lawex'7? ort aexdnt by . OU Butt NY & E large..... 56 Han & St Jo, 1g M Han & St Jo'con 9 it Ml Cen i ber cent, *76..101%4 It ul oux City ist m Quiney & Dub & mioux City 2d di % ll & So Lows . Cedar F & Minn Istm. 80 Lat, Bi'n & Miss ii 0 ind, Bloom & West ist. 46 Han & Cen Miss Ist m., 60 Mich couth 7p ¢, 2d m.10)% Pekin, Line & Dec'r isi 60 BANK SHARES, Bank shares sold at 108 for Svate of New York, 1184g a 119 for Merchants’, 963, for Fourth National and 105g for Republic, MEMORANDA, The governors of the Stock Exchange held a Meeting to-day, and, it is understood, proposed important changes in regard to commissions for tne buying and selling of stocks. They reported a rule that irom and after the 1st of February in- vestors are to pay 34 of 1 per cent upon the par value of stocks and bonds, instead of 44 of 1 per cent, as heretofore, and ‘speculators’, if not mem- bers of the Board, 3; of 1 per cent, instead of 1-16, The action of these gentlemen would seem to indi- cate two things: first, the extreme poverty of brokers and the necessity for their protection through increased profits, and secondly, tuat they have a desire to reduce the volume of speculation by making it more expensive. The regular monthly meeting of the Erte Rail- Way directors was held to-day, at their new quar- ters, foot of Duane street. The Secretary stated that nothing other than routine business was transacted, GOVERNMENT BONDS. Government bonds closed steady at the following quotations:—United States currency sixes, 117% @ 118; do. do. do., 1881, registered, 118% a 11834; do: do. do., 1881, coupon, 11834 a 118%; do. do. five- twenties, 1862, registered, 114% a 115; do. do. do., coupon, 1145 a 114%; do. do. do., 1864, regis- tered, 116 @ 116%; do. do. do., coupon, 1864, 116% @ 11634; do. do. do., 1865, registered, 118 a 11834; do. do, do., 1865, coupon, 11834 a 11834 ; do. do, do., new, 1865, registered, 11734 a 117% ; do. do, do., 1865, coupon, 11744 & 11734; do. do. do., 1867, reg istered, 11834 @ 118%; do, do. do., coupon, 1867, 11834 & 11834; do. do. do., registered, 1868, 11845 a 118%: do. do. do., coupon, 1868, 11844 a 11834; do, do. teh-forties, registered, 11534 @ 11514; do. do. do., coupon, 115% a 11534; do. do., fives, 1881, registered, 113% a 114; do. do. do., 1881, coupon, M4.a 114%. NEW YORK STOCK EXCHANGE SALES THURSDAY, Jan. 14, 1875, BEFORE CALL—I0 A. M. 300shs Pac Mail 8s Co LOU Mile RRS 5)0 Erie Railway. 1200 409 shs Atl & Pac Tel., 28 200 do. 27% 100 Pac RE of Mo. 6 do 20 © do 10:15 AND 1: $13000 U s 5-20, 20000 do. 10000 US 5-20, 1000 U 8 5's, 6, 10000 Us 5-20, r, 1000 do... FIRST BOARD—I0 94% 1000 shs LS & MS R., 20° 2500 do. eli. do, © 91% 200 Pacific Mail SS.’ wes 300 do 1000 Onto & M 24. .. 1000 Pac 7's, gd by Mo 400) Cen Pac § bas. Cen KR..be s3 400 Chi & #1 RR.be bs I jo... 100 Pac ot Mo. 100 i SREGRESSS: eS BSaSSSSss Per Cyd ee 140) Union Fae RR. fio) gor < bg 400. a is 400 Chic. 0 Hana a CRRA be BEFORE CALL— {iis 500 shs LS&M S RR.b3 1% 100 do. q $1500 Long ( RR Ist. 10 shs Det & H Can 600 West i 8 75 Fort Wasi 232 0 NY NW en Wy 2p. M. $11000 US 5's, ¢,'81.be 114K SECOND BOARD—1 P, M. sn, @xc. 5244 shy NYC&H RR, 1 D...... 94% 700 Brie RR. $1(000 U 5 5's, r, '8L... Lid $1000 Tenn 1000 Mo 6's See: Segeteeisee #8 Tests be a8 Me 400 MUA SEPRER 100, do... S255 ‘i Wo Ath & 100 ao. SSSSEESSSESE ees a BRS e 3S 358) srotees | L100 | 2 Panama RR, 60) Un Pac RR,. 00 do. Atl & P iH lw, C&T RR, 100 Pac RR ot ato. 100 a bn CLOSING PRICES—8 P. M, Pi Mail.... 35 354g Mil & 1 Pauk.. £734 a 37’ Wartn Tel 73% H 7 MIL & st P pt... 5839 a Ht Guicksilver a: Co ale a 96 Quicksiive 43) 1,0 Cah Mich Cei 2 an | adams’ Han & St Jo pf. Amer Ex soke vhore.... U5 bxpreas. Wells-Fargo Ex 79 a 80 Chi « Alton. .. 10436 a WS Cleve & Pitts. S525 a 88% chia. W. Ae a at Ch & N W pt... 604, a 60: Chi & RT.......1023¢ a 102! COMMERCIAL REPORT. COTTON HIGHER—FLOUR DULL—WHEAT CON- TINUES INACTIVE—CORN IN DEMAND AND FIRM FOR: NEW—OATS DULL AND LOWER— LARD FIRMER—COFFEE QUIET—SUGAR MORE ACTIVE—PETROLEUM NOMINAL—NAVAL STORES NEGLECTED—WHISEEY FIRMER. THURSDAY, Jan, 14—6 P. M. Cotton on the spot moved more freely last even- ing and to-day, chiefly on orders from Liverpool, and alarger business woula have been consum- mated but for the high pretensions of boiders, | whogenerally demanded }¢c. per 1». over the sub- advance of 3sc. per Ib.on middling and grades below and \c. per lb, on good middling and grades above. Spinners, who have been baying in small lots lately, evinced more nerve in bid- ding on lines of considerable magnitude, but the tailed by tbe increased firmness of sellers, The business for speculation was in blocks mainly, no general demand being noticeable from this source. We noticed some demand for lots in transit, but | with buyers and sellers considerably apart in their | views no business was accomplished. Futares | opened with most of the dealers operating for @ fise im consequence of the im. proved tone of the Liverpool news and ex- pected small receipts at the ports, and, assisted by the larger demand for spot cotton, the market was | worked up to an advance of 5 32c., a partof this improve- | ment being subsequently lost, owing mainly to the tact that the receipts at the ports overreached the estimates | of the morning, New Orleans being particlarly full, At | the close the market was called barely steady at the fol- lowing auotations:—January, 15 3-32c. a 15}gc.; Febru- BARLEY AND RYE QUIET—PORK NOMINAL— | joined quotations, which, as they are, show an | operations of this class of buyers were also cur- | fo. e held at 6. at 9c Je Phitac juoved a markets were s—Oll City, $125 A $1 8. Kouseville, 1 a2 a $1, 4b; Tidiouta, $110; Parker's at wed, Ww immedia e shipment. Puovisions—Receipts—Pork, 2219 bbls: beet, 177 | ackages: cut meats, 3,058 do.; "lard, 1001 bbix’ and | jerces. The market for mess pork ruled very quiet, With sles confined to unimportanys tots, We quote Old 20 and new mess $20, Yor prompt de! very March Veries, Without sales, were quoted at $19 75. steady, witha moderate demand at And Bigc. a 8c. for city. Beef uiet, but steady; sales in a job- bing way of @ packages at tigures Within the range ot our’ quotatons. — We quote:—$li a $l tor extra mess cted, $10 60 tor | spected, $10 for "plain mess inspected, $9 50 for plain “mess uninspected, and tierced beef’ at $22 0 $25 tor Tadia mess and $3) 4 $21 60 for prime iness, LY otra India mess at $29." Beer hams remained ady ; quoted within the range of $21.50 a $23 t Cut meais—The market was auiet, but We heard of sales ot :00 pickled shoulders at 8c. per ib. and 600 pickled hams atll',c. Smoked shoulders were quoted at 9c. and smoked hams at [33gc. per 1b. without sales. Lard—The market for Western sieam ruled firmer, with sales of -2,(0) tierces, January, at le, a Lice. per lb.; 2500 tierces, Februury, a: 4 inspe a) er Ib. ; 2,60) tierces, March, at 14340, a "MM 34 3 | | OY terces, A) t lé'ge. per 1b., and 20) tierces the spot, atl b.* Butter aint cheese were change in any icular. Rice.—There was a tair jobbing business reported, but otherwiye the market ruléd quiet and steady. We hote | sales of 30 tivrces Carolina and | ws of Kangoon at figures within the range of the following quotation | Carolina, 74¢. a 7%. tor tar, 73%. a 7% ie. | | a 8c. for prime and 5'gc. a Bsc. for choice: Louisiana, | Tse; a Be. Patna, To. a 7igc.. and Rangoon Osc. a 6c. ver i Sugan,—The marker tor more aétive and an impr parent. Refiners were he transactions were ning grades rather BPEF cluded hnds New Orleans at7 ace., gold, in bond; 1,371 a Was very quiet at e. tor stancard A. in'their circular of ib | 8%4c. and 225 melado at 6ige. | Lode. a 10%, for hards and 984c. a Messrs. Walt, Creighton & Morrison, this date, suin up as follows:— Boxes, bags. melado. Stock (ascertained by actual count, including specuia- uion) dan, 1, 1 Receipts since Comparing with stock Ja 15, 1374... an 33, Comparing’ with gtocic Jan. ol 8 m. 20, fair to goo c. Be. erocery choice, Piatt Oe is. 8 a a Ce & Bhge. , fair to good. iG. A Bdge. : centritugal, hhds, and molasies, bhds. and a 6 clayed, boxes, }0., 10 to 12, Bhs Ta to prime, &! prime wo & meindo, 434 7 109 Tec. 10 15, o%—c. 0 B40. 5 Jigs. “a L0Ke in, COMMMOR LO 4c. Bye. a8%c. Brazil—Duteh standard, N ate. Java—Dutch standard, Nos. 10to. Manila—Superior and extra superior, 7% New Orieans—Retining grades. a a ike | Duteh standard, Nos. a aCe + dO. 13, do. wo ime, Vgc, a8 | 9.0 i, yc. a BKC, aire. * 0. strong, with city, part at Loe, T. w ru Wuiskry. | Sales 200 bbls, at 97}ac. and 100 bbls, alcohol proof gallon DOMESTIC MARKETS. | Gatvestow, Jan. 14, 1875, Cotton quiet and firm; middling, 1446. Net receipts, | 1,30) bales: gross, 1,382, "Exports coustwise, 1,253, Sales, bw. Stock, 84,439" y New Ontans, Jan, M4, 1875. Cotton firm; good demand; middling. 144c.; low | middling, 1itge.; good ordinary, Isc. “Net receipts, | 10,159 bales; ross, 12.000, Exports to Great Britain, 8,420. Sales, 7,000, "Stoca, 285,522. Mosite, Jai Cotton strong; middling, 143¥c.; low middi | Me.; good ordinary, 1340c. a Whe. | bales. Exports coastwise, 614, 75,270. 8, \ ce Net ree cits,” 425 Sales, 3,500. Stock, AVANNAN, Jan, 14, 1875, | Cotton, quiet; very firm; middling, 143fc. ; low mid- | dling, 144c.; good ordinary, 13%c. "Net receipts, 2,009 bales. i:xports coastwise, 153. bales, 1,42. Stock, Cuanteston, Jan. 14, 1875. Cotton firmer; middling, 144c. Net receipts 88 bales, Exports coustwise, 770. sales, 2,000. Stock, 71.613. Wituincron, N. C., van. 14, 1875, pirits of turpentine firm at Mic. Rosin quiet and steady at $1 70tor strained. Crude turpentine steady at $1.20 for hard, $2 60 Lor yellow dip and $2.0 tor virgin. Tar steady at $1 Osweao, Jan. 14 1875. Flour steady ; sales of 600 bbls. at $6 for No. L'spring; $6 25 tor amber winter; $6.50 for white winter; $6 75 for double extra, Wheat dull; sales of 1,600 bbls. red State on private terms; No. 1 Milwaukee ‘Club heid at | $1.0; extra white Michigan, $1 34 Corn quiet at 8c. a We. Barley dull: sales of 1,000 busiels Canada at $i 48 on cars; 9.000 do. atl 47in store. Corn meal, for bolted: $36 for unbolted, per ton. Millfeed— | Shorts, $23: shipstuffs, $25; middlings. $29 Railroad ary, 158-160, a 157-92c.; March, 159-160, a 1519-We.; | oan nm lows, 1400 pote: wna TTAeGs Tan, 14, 1375. P ¥ : : eceipts—Flour, 1, AG 2. b 185 cs ray ytd hye agg Po ae ae. Ne S | asgondny ont BOD dove tarleg, Mae ee ee eal 17c. We quote spot cotton (quotations, based on Ameri- | and unchanged ; sales 320'bbis. Wheat neglected; No. 2 | can standard of classification) :— ti Chicago offered 'at $1 02 Corn very dull; sales of thre Uplands, Alabama, New Orleans, . | Cars of new on the track at 78c. Uats and rye neglec Ordinary. sooee 2 125g 12% 12! Barley inquired tor; sellers keep transaciions private. | Good ordi 13 re 14% ee | Pork guiet at $20 a $2025. Dressed hogs quiet at 9c. a | Low miadiiug.-....2 1489 Be Be 940. Highwines—Asking 6c. ; no sales. Midduing. > 158 1 5 5 ToueDo, Jan 14, 1875, | Good middiing, 153 16 16 Flour unchanged. Wheat steady; amber Michigan, Petr otc Saccd ttamaard clam tonin eee HUME Abn High Now pede BLT: Mang ae ge aap oss ¥ a 29g 5 ri 3 No. 4 3 No. a —Quciaiions based on standard of classiticationin force , SornAult and anchanged. Oats quiet, No. 2, ance and | September 1, 1874, and on upland cotton in store running | rebruary, 5/c.; Michigan, 57%¢.. Clover seeds, $6; in quality not more than half @ grade above or below | mammoth, $625 Dressed hogs, $7 65 0 $510. Kecelpis— | the de quoted :—(rdinary, i 8001 ordinary, | Wheat, 6,000 bushels: corn, 25,00 do.; oats, ao. | lige; strict good ordinary. 14440. low middling, 1c. | Shipments—Wheat, 100) bushels; corn, "0.000 do. middling, 153c. ; good middling, 16%4c. ‘The aales were:— acoidahy thy 1876, aortic Mag ign Tp | Flour dail and nominal, Wheat active and higher; e 0, 3 do. BAC. rel a 01 jean Cece = | higher; No. @ mixed, O6}ze. 0 Goe. cash; 7 ebruary, 720. May; rejected, 6lisc. ‘a ady : No. 2, 62340. a S2%c. cash, 52%C. a 53c. rejected, 9c.’ Rye firm aud in fair demand ; No, | Barley ‘unchanged. Seeds steady; Timoth: 46. | ressed hows dull and declining; light, $7 40; heavy, Sie Pobraary, $19 Marek Lard firm and in fate de? | June, 200 at 16 15-32e. at 160. Total, rebruary, arch. rm and in tair. de> | Yesterday's closing prices January, 18.1-8¢., nominal; | Pap Sis se, ON Sey oe can | February, 16, Sste.Mnredy, Weise: 8, to Wiste.i, Abell, | Quit of the Bord wus afternoon wheat’ was declining at | Rise. & 16a idady. vodlay, up {3 | 88Me. January, 8c. February. Corn and oats un- | 26%c.5 August, 16 1-160, Market steady. io-day, up to | changed. bork higher at $1875 February. Lard firm Pace, 200 ee tele. tod wt Tee Store Mane ao SE | and Unchanged. niece ts Flour, 400) bhils s whent, 7 eens ushels; corn, 0.3 oats, 0.; barley, | a Ty ORE ko et6e:. 200 | 4.000 do, Shivments—Flour, 7000 bbis.; wheat, 19,000 | M000 18%. J .. 20.at | Bushels; corn, 20,00) do. ; oats, 11,000 do. ; barley, 8,000 do. 15 29-82c., 60 at at loc. hepa nag ge | | 1eiget abd at 16'#aee” So at 16% moat EUROPEAN MARKET. | Waiée., 10 at 16933¢., 100 at 16 S-lde- 100 at 189acer% | _ Lonpon Propuce Manxer.—Lonnon, Jan. 14—Evening.— | June, 100 at 16%¢c., 100 at 16%¢c., 100 at 16 19-32c. Total, | Spirits turpentine, 26s. 6d. per ewe. | 10,700 bales. Grand total, 18,400 bales. The receipts at pine arier<rirt hanna te | the ports were as tollows!—Galveston, 1,306 bales; New | Orleans, 10,009: Mobile, 48s: pavannah., 2.009: Charles FINANCIAL. | ton, b mington, +, Nortoik, 3. » New Yor! Sa cane nea oan > oe paenows 5 W; Philadelphia, 163. Total, 17,01 Y —CITY CLAIMS COLLECTZD AND LITIGATION | Fete eck Kate Wi: Gay int Fee nee conducted. by an experienced attorney, without | Rates on cotton are quoted thus:—To Havre, by steam, | any charge, untess successful ; excellent reterences. Ad- 34c.; by sail, 4c. To Hamburg, by steam, igd.; by sai | dress LAWYER, box 2,432 Post oflice. | Se.° To Breien, by steam, Ic. ; by sail, Sc, compressed, : a opr jo Liverpool, td. a 932d. by steam ; by saily Sad. —PUTS. : CALLS i scceatia oreetine tine ca cjaerne tier ewes Gis | Te dtd eetvibhus oatale eure lowed vs | vd regular. e tea! | H 1 Detnicus were aut and several Fouyers appeared on the from market on mempers of the New York Stock ) street, put the effort of holders to sustain vaiues re- | Exehange. Our ilities tor executing orders for | Showa decline of ke, and included 000 bags tair to gout oflers oli personal attention, ant guarantve sate | at 18%c. and 500 do. tair at 18\ec., both lots by “steamer."” istaction,, Explanatory pamphlets sent free. , | Mild grades were quiet. The stock of coftee, other than va | Rio, ig tirst hands includes 460 bags Java, | TUMBRIDGE & CO., | caibo, Is do Laguayra, 560 do, Costa Rica and 98 do. | Bankers and Brokers, No. 2 Wall st., New York. | Si nilla. 'e quote :—Rio, ordinary cargoes, 17kc. a | _—_ fair do., 1%. a 18%0.; good do.. I8Xc, alse. | f ) prime oe ESB bee I | Tange jor PREADS————-—. —- STRADDLES c. & 2)4e. 5 ee ee ae rt | | Goa ane ate, . 2e. 5 ANY AMOUNT, FROM $1,000 10 $30,000, TO LOAN 21c.; “Maracaibo,” 18}4c. a 21: ” ‘Laguayra, aj on improved or unimproved Real i:state in this | 20!5c.; Jamaica, 18. a 20c.: St. Domingo, 1; city or Brooklyn, for term of years, without bonus, | Porto'Rico, 18c. a 20c.; Costa Rica, 8c. a 2030. WILLIA TT, 130 Broadway. can, 2c, a 2le. ay, age 1346c, a 2lc.; Savanilla, 8c, | —————— aoe rare mm on a 2c. ; Curacoa, 173gc. a 1Wec., gold, sixty and ninety T REASONABLE RATES—MONEY ON LIFE AND days, FLOUR AND Gratx,—Receipts—Flour, 9,059 bbls. ; whea’ 15,700 bushels; corn, 75,650 do.; corn meal, 1,015 bbls. an 727 bags; dats, 47,591 bushels. The flour market remained dau and prices were nominal: The sales wore 12.000 bbls, partly last evening. Rye flow 850 bbis. at unchanged prices. ‘with sales of 400 bbis. We quote ir was quiet. Sales rn meal “Was steady, No. 2 State.. $375 a 425 Superfine State. 43a 475 Extra State. 500 525 State, oa 575 4a 475 50a 525 5250 625 SW a 525 52a 575 600 a 700 | 5250 55) St. Louis, straight extra. Sha 6H | St Louis, choice double extr: 60a 700 | St. Louis, choice family. 70a 850 | Rye flour, fine to supe: 40a 535 Southern, No. 2. Nom: | kouthern, superti Nomi Southern, extra. bud a 625 | Southern, family. 62a 3W Corn meal, Weate 4200 460 Corn meal, Jersey 42a 435 Corn meal, Brandywine, 475 a 480 | Corn meal, punchéons. .. 25a —Wheat was duil and nominal at about $1 09 a $1 IL for No. 2 Chicago and $1 12 a $1 14 tor Milwaukee, although | would have been exceedingly difficuit to obtain these prices for more than one or two loads. There were sales last evening ot about, 66,000 bushels at $1 11 for choice | Chicago, in store, and $1 20 for No. | Minnesota, afloat; a smail lot of white, sold at $1 33. Red and amber were | nominal at $1 2) 4 $1 30. Corn was in demand, and firm for new, but nominal for old. with sales of $0,000 bushels At Sic. a 88440. tor new Western mixed, 8c, a S9c. for new Western yellow and 8c. for new Southern yellow; also 10,00 bushels new Western yellow, first halt February, at We. Vats were dull and lower, with sales confined to 39,000 bushels at 67. a 9c. ior mixed and 69c. a 70e. for white. Barley was quiet; 5,600 bushels French sold at $1 12%. and malt were without sales, and nomi- Rally unchanged: gi ‘neicits.—We have yet report a qmet mar! voit on the berth and for charter, but “ravws exhibite nochange. The engagements include»—To Li yy steam, 8,000 bushels grain at l0'gd. a Id. cotton at 9-32d., and by he oo ales cotton at 7-3%l. = | : | fo London, by sizam, 125 Ae ait 68, Ou, 3 tO Glnss ‘ow, bY Sail, 2400) bushels gealn ut Wigdey L000 bis, jour at 28.'10!ad.; to Antwerp, by sail, 00) teres lard on private terms: to Ste saul, 10) tons of provis- jons, at 408. in the chartering line we have only to res port:—A British bark, 898 tons, hence to Glasgow, with gen-ral cargo, at a lump snm,; an American bark, hence to Genoa, with 600 nhds, of tobacco, at 38s, 9d. rades exhibits no lots, which reali: .—The market for foreign le ie; the demand is for tr steaay figures. Domestic met w: fair jobbing trade attull prices. The sales foot up 230 bbls. of New Orieans The stock this date includes 4,1i2 ‘at our quotations, hhds. Porto Kico, 1,082 do. of tsnglish lsiands and 9,500 | bbis. of New Orleans We quote:—Cuba, ceotritugal ana mrxed, Se. a 36c.; do. clayed, 36c. a d0e.; do. musco- vado, refining, 36e, a 42c. We. a 450. Porto Rico, Oe. ; Sng! a Sic.; New Orleans, 650. & 67 Naval stoxes,—On 'Change to-day the market for spirits of tarpentine ruled dull and wholly nommalin the absence of sales, Merchantable order was olfered at sue. but there were no bids above 36%c. tramned rosin was also dull and quoted nominally steady at $2 U5 « $2 10 tor ordinary to good. The finer grades were entirely neglected and also nominal. 1 b steady at $225 a $2.37! Prrnousiw.—The market for refined was dull and ome mally uneltanged; auoted at Wise. for delivery balance Endowment Insurance Policies: Mortgage and other securities. Insurance of all kinds effected with best companies, J. J. HABRICH & CO., 117 Broadway 7 oad FIRST MORTGAGE OF $39,000, ON SOUTHERN roperty worth $300,000, will ‘be ‘sold at fair dis- count, or exchanged for part cash and Real Estate, Ad- dress SOUTHERN, box 175 Heraid office. NY STOCK AT EXCHANGK WILL BE PUR- chased on margin, five per cent; privileges at close e, irket prices; explanatory circulars free. ie ORE: ROTHING 1AM & CO., 12 Wall street. LADY WOULD LIKE A LOAN OF $300 TO $1,000 for about two months, on good security (re: tate); board Herald Upt = given until payment. Address SECUKITY, Branch office. CTIVITY IN STOCKS MAKES PRIVILEGES THE satest and most profitable method of operating ou | small sums. Full instructions in our weekly paper. $150 ayear. Sample copy, also pamphiet, iree ou ap- plication, of mailed by the publishers, J. HICKLING & O., Bankers and Brokers, 72 Broadway, New Yor! —MONEY LOANED PROMPTLY ON MORTGAGC + Mortgages cashed; Stocks, Bonds, Real Estate Furniture, &c., sold by auction, V. K. STRVENSON, Jr., 11 Pine street, or 31 Kast seventeenth street. —DEFAULTED RATLROAD BONDS A SP s and bought by the old established house of ALBERT H, NICOLAY & Ov., kers and Auctioneers, 3 Pine street, New York. Stocks and Bonds not dealt in at the New York Stock Exchange our specialty 23 years, <LAPSLEY & BAZLEY, BROKERS, + WAY, NEGOTIATE PRIVILEGES ON STOCK EXCHANGES” “DOUBLE PRIVILEGE MARKET) $150 TO $360; SINGLE PRIVILEGES, $100 READS, $8 TO $00 PEK 100 SHARES; PAMPHLEE HOW MONEY I> LOST AND MADE IN WALL STREET" KE. SENT FI Dad STREET Bot Subscription 74 BROAD. MEMBERS SAVINGS BANK, nd. Bowers nd street and Sw Voxm, Dec. 15, 1874. ew Yo TWENTY-NINTH DIVIDEND.—The Trustees have directed that on and after Monday, January 18, interest at the rate of 6 per cent per anuam be paid to ali aeposi- rs entitled there fatorest not withdrawn will be added to and will draw interest as principal. By order i lads BARRISON HALL, President. ..P, Cooree, Secretary. C. D. WEY, ireasurer, DEPusits MADE ON OR BEFORE, JANUARY. », DATE INTEREST FROM JANUARY 1. NAPITAL SECURED FOR MERCHANTS, MANUFAC- J turers, Mining Companies, &e, Undersigned have applicatiods from namerous persons desiring to invest, ALEXANDER FROTHINGHAM & CO,, Bankers and Financial Agents, 12 Wail strect. {REEDMEN'S SAVINGS BANK DEPOSITORS DE siing an early adjustment of their claims by a re- Hable attorney will cali, between Land 5 P.M. on THOMAS H. HARTWELL, 19 N. H. HART W Nussau street, New York, ALWAYS HAVE MONEY TO LOAN ON GOOD NEW York city Mortgages without bonas Principals de- siting to BORROW OR ENVEST apply to GRANT, Ll Pine streets JANTED—BY MANUPACIORY OF STAM EN gings and standard articles, $20,000, Address SUTIN, 1,502 Olive street, st, Louis, Mo. : | Street, in the city of New NTKARINK Was rather more active and firmer, closing | sa ies Of 60,00) Ibs 5 treights—Flour to Boston, SUc. ; to New York, 40c.; to Al- | FINANCIAL. | 8 AND TRADERS’ SAVINGS INS’ thon, No, 233 Bowery, near Houston street. Aaiviaend at tho rte of sis pore has | rate of six percent per annum has been declared, and’ wili be credited depositors danuary | |, 1875, on all sums entitied thereto for the six months and three months ending December $i; payable on aud atter the third Monday m January interest mot called tor will remain as a deposit, drawing inte rest from Jan- uary L sits made on or betore January 2 will | draw interest trom yor a co! LU 4 NK . H, ©, Fisuen, Secretary. ma | saisbes FICK OF THE MANUFACTURERS AND BULLD- ers’ Fire Insurance Company, 207 broadway.—New | York, Jan. 18, 187.—the Board of Dircctors have tis | day declared the usual semi-annual dividend of (8) tive | per cent, payable on and ahter the 5th inst, | . JAY TITU. | z ieee 3 ESTELL, Secretary. FFICES OF THE GUARDIAN FIRG INSURANCE | Company, 187 Broadway, J 19, 1875, The Board of Directors have this dav declared a sernl- annual Dividend of Five per cent, Payable on demaud, WA BRA PAY! Soeretary. T "ST FUNDS TO LOAN—O: LONG TERMS, on New York or Brooklyn improved or un- improved Property: Second and Leasehold Mortgages wanted, SHIPMAN & MERSEREAU, Union Builds 2 William street. U hig ot FUND OF $150.000 TO LOAN ON CITY OR | Brooklyn Property, without bon Persons desir- | 1 trouble by mak- ing immediate application to O. 4, Bie Broadway, room B. war D—$10,.000, ON UNDOUBTED REAL ESTATS security, Worth four times the amount. AN-ON MALTBY, Attorns aw, 59 Willlam street, w York. $7,000, $8,000 AND $1000 TO INVEST 3.000. in First Mortgages on improved Prop- | erty, in city or Brookiyn; no bonus. GEO, W. SLAK. Bia 65 Wall street. STATE, WILL $147,000, RHONGING,20,4x kerare, WiLL te New York or Brooklyn. Address BSTATE, box 19 Post ofiice, New York. : 400. 00C TO LOAN—IN SUMS TO SUIT, ON i: : amp city or Wi hester Real | Bstate, at simple interest; cau remain, UC. Ee WLuLiS, Lancaihire Insurance Gompany, 187 Broadway. COPARTNERSHIPS. x Wescott. HARGREAVES BROWN, OF RICH- mond Hill, near Liverpool, and John Edgar Job son, of New York, have this day’ been admitted partners in cur houses in this country and bngland. ROWN BROTHERS & CO. New York, Jan. 1, 1875, mee Vv. R. SCHUYLER BECOMES 4 PARTNER our firm from this date. SUNUYLER, HARTLEY & GRAHAM. New York, Jan. 1, 1575. OTICE 18 HEREBY GIVEN THAT THE FIRM OF Roll & Meyering, doing business at No, 12> Grand ‘ork, has this day been dis- All claims against the firm | soived by mutual consent. | will be ‘paid on presentation by George A. Koll, at | | No. 125 Grand street, New York. 2 | Dec. 28, 1374, @. A. ROLL LL. ALBEKT MEYF RING, cent currency bonas held in Amsterdam, whictr | do not mature until 1890. It was aiso stated thas | Messrs. Brown Brothers & Co, have negotiated im London $3,000,000 of the $5,000,000 New Jersey Central Ratiroad Company’s consolidated frst mortgage bonds, which they recently bought fro: the company. Part of the remaining $2,000,000 Nas already beep soid in this market, It is un- dersvood that the greater partof the exchange and gold against the London negotiation has been sold. Inquiry at the office of Brown Brothers in re- Spect to the latter loan obtained the corrobora~ tion of the above statement to the extent thas that firm were engaged in negotiating such loam ald that & portion of it had been taken. They had not beard from Europe as to the actual taking up of the balance. The effect of these two negotiae tions was to depreciate the goid premium, While exchange stiffened, in the tace of a reduction the Bank of England rate of one per cent Another iarge suipment of specie yesterday attracted attention in the same direction. PACIFIC MAIL furnished nothing new to the gossip of the street. It is understood that Russell Sage’s declination of a Sea in the direction is still in abeyance. MILWAUKKE AND ST. PAUL. The Stock Exchange has, upon the recommen- dation of the Committee on Securities, ordered the addition to the call of the “Chicago, Milwaukee and 5). Paul first mortgage bonds” upon the 10le- lowing presentment :— Total amount of mortgage. Amount issued to this dat Dated Fevruary 14, 1874. Ap amount of the consolidated bonds equal the above amount of mortgage debt (exciusive the 897 consolidated bonds already issued) uf placed in the hands of the trustees, to be issued@ only (dollar for doilar) in discharging such debt, and the remainder of the bonds are to be used for’ the building of pridges and other purposee of the company as specifically set forth tn the mortgage. THE APPROVAL OF THE PRESIDENT OF THE NEW PINANCE BILL Was announced on the strest uuring the day, ac companied with a further statement that tue pupal will shortly recommend increased taxa~ on. The financtal question as it ts now before Con= gress is again beginning to excite the atten- tion and interest of the street. The passage om Husetay of the bill reported back from the Bank- ing and Currency Committee, removing the re strictions from gold banks in respect to their cir- culation redeemable im gold, 1s regarded as a large Slep toward specie resumption. Tue explanation of Mr. Maynard, through whom the blil Was re- ported back, that itis merely ‘“locai in Its cuarac- ter, relating only to gold banks, which are con- dned to the Pacific coast,” doubtless prevented’ some opposition which might otherwise have beem shown by the advocates or adherents of the present national bank monopoly. But the great point of the vill is Shown in the declaration of Mr. Merriam, 5,000,000 vi 397,00 | of New York, that “it is PREE BANKING SO FAR AS THE GOLD BANKS AKB CONCERNED,” and, being general in its character, gives to New York the same privileges as it does tu San Fran- cisco In respect to the organization of such gold W YORK, JAN. 13, 1875.—THE COPARTNERSHIP of Benfey & Leaman, heretofore formed for the | Pu"poxe of engawing in the leat tobacco business at No, | 21 Maiden lane, New Y has day dissolved by mu: | tual consent, and Louis Bente, | Uement of the aiflairs of said fir intristed with the set- LOUIS BENFRY. | LOULS 1 i OPPORTUNITIES. A GOOD BUSINESS OPPORTUNITY.—THE CENTRAL | | A Park Hotel, corner Seventh avenue and Fitty-ninth | Street, to tet, for a term of years, on moderate terms | Inquire of owner, on the preiis ses, NEW YORK BROKERAGE AND SION house, in staple commodities, having the best of | facilities tor enlarging their ‘business with incre: | | capital, would uke Au Active partner with $30,000, Ap- ply to GRIGGS & CARLETON, 98 Broadway. PARTNER) WANTED—WITH CAPITAL, BY A 7 Preqaagiy New pore ene Laphtapys of oi Ke @x- erience, for the purpose of engaging in a general bank- ‘hg business. “Address M. Ws Herald office: ia FIRST CLASS OPPORTUNITY—¥OR A MAN some means, to start a confectionery and rest fant, in centre of business portion of a city near } York; but one restaurant in the place; doing a business of over $1000) per, year; butiding pew location very | esirable; rent moderate. bor particulars address Fl- | DELITY, box 2,021 New York Post office, FORTUNE.—THE WHOLE OF A LITTLE PATENT, With tools and stock, sold low ; small article: profits 900 per cent; will sell everywhere the vear around. MARTIN, 385 Broadway, room 35, A. BARGE FIRST FLOOR AND BASEMENT, 7§x100, on the east side, with or without Machinery; suit= able for most any business, HINE, COLE & GRAY, 536 Sixth avenue. (A SAFE, LEGITIMATE MANUFACTURING INDOOR | busitiess needing $200 to $30; profits 200 per cent; ust starting; no possible risk Send your real addra I NANGFAGT ORM Herat omese sivas PPROVED BUSINESS CHANCES-—ON SATISFAC- tory terms, requiring large or small investments, MMIS | | TH | offered for investigation; also Money advanced on act | ceptable securities or to develop any new invention or | business of merit. JEFFERS & BEECHER, 26 Broad street. (OR SALE—A STEAM PACKING-BOX FACTORY, | doing a business of trom $50,000 to $75,000, cash, per annum, with machinery and fixtures and all appurte- | Mances’ Address, with real name, BOXMAKEKR, box 7 He tice. N A GENUINE CASH OFFICE BUSINESS, PAYING from $,7000 to $8,000, a business man, with $750, wants @ reliable partner with the same aimount. Appiy to ADVERTIER, 62 East Ninth street, 10 till 3 o'clock. ARTNER WANTED.—a YOUNG, REFINED LADY wishes to meet with an old gentleman who can ad- Vance her $1,00 in business; no others need apply. dress K. W., lierald Uptown Branch office. wor Nee ieten ee ie el NESS) alre: estal ed; Lf will make ful pros perous Apply to KUGENE CHEVALLIER, 61 Liberty street, basement. HITK LEAD PATENT FOR SALE.—E. MILNER’S | Patent, No. 140,721, dated July 8, 187%, tor sale. Par. | ties wishing to treat for it apply Dy iettor. tor terms and Particulat to BRANDON & MORGAN BROWN, Engi- heers and Patent Agents, 38 Southampton Buildings, Chancery lane, London, W. U., England. ‘ANTED—A PARTNER WITH $20,000 TO $30,000 | capital to take the interest of a retiring partner im | anestablished mercantile business in ai adjacent best of reterence given and required. Adéress QALT- TAL, Herald ottice. . ANTED—IN A STAPLE MANUFACTURING BUST ness, @ special or active Partner with $25,000 cash capital. Address MANUFACTURER, Heraid oil pestle ao tare WALL STREET NOTES. Ad- | WESTERN UNION AND ATLANTIC AND PACIFIC— IMPORTANT MOVEMENTS IN ERIE—FRESH RAIL- WAY LOANS IN EUROPE AND THEIR EFFECT ON GOLD—ACTION OF THE PRESIDENT ON THE NEW FINANCE BILL. : The curiosity in telegraph circles concerning General Eckert’s resignation from the Western Union Telegraph Company was partially relieved yesterday by the action of the diregors of the Atlaniic and Pacific Telegraph Company, at a | meeting of whom General Kckert was elected a director of that company, and subsequently its President. In this connection it is but justice to state that Marshall Lefferts desires the withdrawal of bis name in any discussion concerning General Eckert’s succession in Western Union, inasmuch as he claims that his present position as President of the Gold and Stock Telegraph Company is more important than a subordinate position in the Western Uniod, and far more remunerative. ERIE AGAIN HEARD FROM. A meeting of the Erie direction was held yester- dav in the new quarters down town, at which, it is currently stated on official information, “notn- ing but routine business was transacted.” It is learned, however, on good authority, that a com- promise has been reached and 1s under considera- tion between the present directton and the oppo- sition, familiarly crystallized into concrete form by the title of Jay Gould, whereby all the pending | suits against the Erie corporation would quickly be withdrawn, viz.:—"The Angell suit,’ the proceedings of Mr. Dunan and other litiga- tion, The suit against Gould for $1,200,000 was to | be withdrawn upon that consideration and on his | payment of $750,000. The quality o: this payment | was also explained to be “$1,000,000 in United States Express Company stock, $250,000 in Opera, House property, and about $300,000 of other out- standing liabilities.” 11 will be seen at once that here the narrative becomes mixed concerning amounts in the filtering process by which infor- mation of this kind obtains publicity in advance of official statement, but enough is apparent to carry with it the conviction that the announce- ment made here in December that the New Year would witness the termination of all the then pending Erie litigation 1s being developed into results, Witn Erie relieved of this incu- bus of @ hostile party seeking to embar- 1ass its management by persistent appeal for legal intervention in legitimate detats Ol business with which the courts have reaily no equity right to interfere, there is clearly a great future beiore this road, and it is only trutniul to Say that to the new President, Mr. Jewett, Mr. Duncan and Mr. 5. L. M. Barlow 18 tats assuring prospect mostly due. It may be added that, late 1p the aiternoon, all snits i. Erie had been withdrawn positively, aad such information was sent to Lonuon. CONSOLIDATING OUR RAILROAD OREDIT. It was announced on the street yesterday that the Imots Centrai Company has recently nego- Uated in Scotland, through Messrs. J, S Kennedy & Company, 01 Unis city, @ loan of £500,000, to take up the same amount of sterling bonds due in London on the ist of Apri. The new dond: bear Six per cent interest, and have twenty yea to run. ‘his company has in sinking funds $2,735,000, to pay the balance of the construction bonus Which also mature on the ist of April. ‘The orlginai debts of the company will vheu be | Dald of. With the exception Of $2.009.000 six ver. | daily as .oW as two and a | believers. banks without limit to circulation, so long as | such banks maincain a system of redemption im coin ior the paper they may issue. There is here a direct authorization for the estabiishment of banks upon a specie basis without restriction ag to circuiation so long as such specie basis is une | Impatred by delault of com redemption of such | circulation, ‘This would not be much, however, if it were not that this iil, coming from the Banke ing and Currency Committee, 18 A SORT OF COMPLEMENT OF THE FINANCE BILL, recentiy passed, known as ‘‘A Bill jor the Resumpe tiou Of Specie Payments.” Mr. Garfield. Chairman of the Banking and Currency Committee, thus defines one of his reasons for supporting that bill, Vize:—That “it 18 @ solemn declaration of law that we Will at a fixed time in the future Tesuine specie payments. That declaration is clear and unequivocal; a day is fixed and the law declares that that day shail witness that consum- mation. * * * While the machinery providea in the bill does not seem at all adequate to the resul: the hope is that public opinion following the lead of this solemn declaration will enable Congress before that time arrives to take the necessary eps to achieve What has been solemaly promisea,’’ The means whereby that public opinion May so shape itself to accomplish tuat result is the reconstruction of our banking system under the new law providing for ‘“‘iree banking, so lar as gold banks are concerned,”’ whereby a gradual change may be brought about in our monetary structure in the abandonment of the preseut national bank organization, in which paper issues reat upon paper securities for one resting upon HARD PAN. The idea meets with much favor. The national bank system has many excellent principles that can be readily used elsewhere, but it is Jelt that as a system It stands in the way of specie resump- tion, throwing the whole onus upon the govern~ ment of bringing to par tts $3$2,000,000 of demand obligations, beiore the national banks can be ree quired to make any effort to redeem their own paper. If, however, the several business commu- nities of the country, acting from themselves up to the government, instead of waiting for the gov- ernment to reach down to them, give such sup- pose to the government in the organization of anks On a specie basis, a consequence will be the | gradual shrinkage of sional bank credits, | which are to @ debased national credit as ‘Ossa upon Pelion.” The people themselves, thus taking the initiative, could enable the government to grasually retire the greenbacks | Without the necessity of paying out coin for them, | and so bring the country back to a specie basis Without the severe contraction that might be en- dured in ‘‘noarding”—that is, withdrawing a iarge amount of coin irom its use aa a visible security Jor bank issues. That we cannot reach specie payments wituout contraction in some form of the present volume of irredeemabdle paper money seems clear. That a very considerable reduct®m oi such volume might be made from this point for- ward without great detriment to values seems probable irom the large amount which tne soriuk- age of the last couple of yeara leaves at present practically unemployed, bearing use on tbe strees os half and three per cents eae FACTS ARE STEADILY MAKING THEIR WAY into the puvlic mind and acquiring dally more The sormer desire for further inflation is being given up even by its Strongest utterers as mistaken, and the desire 18 growing that the necessary contraction should be begun as quickly as possivie under the favora- ble conditions prevalent. This bill in respect to gold banks, it 18 hoped and thought, will give the ] | business community an opportunity to work out this problem themselves, without the need of Waiting upon the political legisiation of either of the conflicting parties. It would seem singular if, after all, the means of safe return to a specie basis, with the resumption of Load payments, suould come to us trom the far West, the Pacific slope, the extremest point of our Empire re- storing to us the sound teachings so long disre- no among those who founded that empire. he thoughtful words of ex-Governor Dix upon this subject in the added interest they gained trom the names of the gentlemen to whom they were addressed were generally commented upon here yesterday and approved, as reflecting tl pte lative feeling in this matter of specie resumption. THE JERSEY BANK FAILURE. STATEMENT OF THE PRESIDENT—THE LlA- BILITIES «ABOUT EIGHTY-FIVE THOUSAND DOLLARS. The doors 6f the Union Bank in Jersey City were not closed yesterday. The President, Mr. Sand- ford, the cashier and the clerks were busy giving information to creditors and depositors wuo called. The clerks are making out a statement of the actual condition pf the bank, to be submitted. to the directors and shareholders at their meeting to-morrow. The blame for this sudden collapse 1s thrown upon the preceding adumtnistratio! who, it. is charged, took tn a large amouni of worthiess paper, The president gave strong assurances to the depositors that if they be only patient vhey will recelve every dollar due them. The ‘losses will fall on the stockholders. Many of the latter were greatly excited yesterday, and blamed themselves for allowing the tormer management to continue so long in charge. Im fact, the bank never rallied under the new mi agement, Among the depositors who suffer are. many of the merchants and dealers in the chief business portion of the city. Mr. Sandford states that, so tur as can be estimated at present, the liabilities will reach the sum of $85,000, The de- positors who called assured him that they would not.take any course which would embarrass the bank in its efforts to retrieve the loss. REAL ESTATE. The attractions at the Exchange yesterday were by Messrs. A. J. Bleecker, Son & White, who sold by oraer of the Court, under the direction of S. J. Bidiack, referee, the house, with lot, located on Prospect place, north of Forty-second street. Mr. George H. Scott, by the same order, under direc- tion of C. Brainerd, referee, disposed of a frame house, with lease of lot, iocated on Second ave- nue, south of Sixty-fourth street; Mr. R. V. Hi 7. Hare nett sold, under the drtection of D. G. Crosby, ref- eree, Improved property located on Sixty-seventm street, east of Fourtn avenue, and on Fifty-suxth street west of Sixth avenue, ana Mr. Joseph Mc- Gutre disposed, by order of the executor, of the premises No. 185 Division avenue, near Sixth street, Brookiyn, E. D, Subjoined are the particu. lars NEW YORK PROPRRTY—BY A. J. DLEECEER, SON AND WHITE, 13 story b. sh, and |. one. & Prospect place, i.5 ft. n. 42d st.; lot 16.3x58; Peter Voorties, plaintiff. ..$9,350 1 frame nouse and lease of lot‘on 6. & 2d ay.,$0.5 f% ‘rame 1 90. 4th st. ; -ot 20x100, lease dated Feb., 1872, wen $; ground rent $4W0 per annnm; Chas. Ra erding, plaintiff, red ert. 13 story and b. b. sh. and i. on n, side 62d st., 00 tt. lot 17.6x6ix17.6x6.3; Andrew G. Fowler, rian 16,841 story and b. B.'s. h. and ion n. side da st, 1463 fee. ath erie 16x65.8x16x07.10; Andrew G. Fowler, piamtt evs aed os 13 story and b. b. s h. and 1 on n, side 62d st. o. 4th lot, 16x71.4; Andrew G. Fowler, 13 story and b. bus. h. and 1 ing the abo ie cm ys LP toh aaher, G. Fore’ [oo story b, 8. F. flat and lot on nh. & ba w. on Jot, 2010x1005; Andrew & Fowler plaints. nee ae mi LSstory Enguish &.. Hear Gin st BOUBEE. yeas PROPERTY: Kh. with lat, No 185 x), Brooklyn, EB. —