New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1858-05-17
conc forward manfsliy and frankly 70 make arrange

mens for the protection Of their bonds the better for
their own credit and future prosperity. The slightest
attempt at sinking these Just Obligations viii no, only
be met by prompt legal action but will bring upon any
city which tres "the dodge the unmitigsed scorn
and contempt Of the whole community. Having issued
these obligations they must be met boldly and unhes
tspgly IN he way which, after due consideration may
be suggested as most practicable under the cireum-
stances.
Tie Baltimore Patriot says:
Money continues abundant, and is gradually growing
easier But few first class notes find their way 10 the
street. and when found are discounted freely a. a.
7 cert.
The Cixcsndti Gazette of yesterday says:
The money maIke. is without change. All the good
paper offering finds ready purchasers at lOG /? g cent
X IL rot 10 be of course that all the paper
offered Sells tina; all the money wanted IL obtained
Capitalists scrutinze paper very closely and the mar
ket easy only for borrowers VINO have nrs'-cas' Ps
per 20 dspose of. The market for Eastern exchange
II still somewhat unsettled The uniform rate ior
bankers checks was premium, but the buying rate;
for NewYork ranged from a. premium. Inc locsi
demand wss not large, but houses that have large
collection bus found their orders fully equato the
supply. ard one heavy dealer bought ell thst was
offered at premium, including s5V,VVV SOFA on &c
count 81 q Kentucky Bank. The amount OF exchange
ade by return ing bank notes IL row very small ana
the supplies furnished by shippers OF produce are
chiefly relied upon 10 meet the demand.
plan has been suggested 10 reheVe lhe cIeu'oi'
and stockholders of the Bay State Mills that seems to
meet with general approval. The idea is to form
new company, called the Washington Mills, with
capital of = OOO OOO the creditors to subscribe to the
amount OF their respective claims, and the old stock
holders to be allowed certain proportion, TO be here
after determined The total debts are g. 40O, OCO ~
e cent to be paid TO the creditors immediately, and
20 e cent Of the remainder al the end OF year-tne
balance to form permanent capital tor the msnuisc
ture Of wooden goods and if this manufacture be IN
successful, the TO be finally closed, as best
may be- after fair trial Should this plan be carried
into effect the Supreme Court il to be petitioned to
allow sale Of the entire Bay State property to the
rev concern Mill No. 3, with all its stock, &c, Is to
be sold as soon ss practicable After paying the cred:
itors 40 r cent il is supposed the new company viii
have "a q cent Of quick and 40 E cent Of liked cspl-
tai The estimate Of the liked property which, by the
plan proposed will be obtained for about OOO 10
81 6S 34 and this estimate is considered very
low one. The original circular respecting the new
company seems to contemplated the subscription
Of creditors only. Ii stated that some change IN the
programme is in contemplation, and that the old
stock holders, also, will have a chance at the Washing
ton Mills The plan is highly approved by the princi-
pal creditors.