New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1858-01-04


Inv occasional orders from Boston, was very trIn and
with lively bidding advanced 10 -. Enc, Toledo
and Nchiyan Southern were also in better request al
fair Improvement Illinois Central went up 10 sol, on
q foreign order, without drawing out much stock
Galena aud Rock Island were both decidedly frner
the latter touching ~ and the Galena advancing TO
III bid. without tempting sales. Harlem was more
than usually active with sales Of over 100 shares at D.
Cumberland al-o took starr, and was quoted at an
advance Of over previous sales. At the Second
Board movements were strongly in the direction
and further advances were realized in NewYork Cen
tral. Michigan Southern. Ere. Rock leland and Cum
berand Reading went up to Sol but lost the advance
at close under free sales by leading operator
Bond transactions were larger than usual, and in
Missouri Is. and Michigan Central new loan Bonds, an
active business was done. The aggregate of sales wa
$4,000. of which $4,000 was in Missouris, and
al 200 in the Michigan Centras,-these last named
advancing to s4 in the registered sales and closing at
81 bid. Illinois Central Bonds were next in point
Of activity, and show an Improvement OF per
cent during the day. La Crosse and Milwaukee
land Grant Bonds advanced per cent. After
adjournment OF the Board quotations We're toeraby
firm but in one or two instances prices were frac-
ton lever. The closing bids for NewYOrk Cen
ern. 2OI: Cumberland, TO- Rock Island 72i Illinois
Central, 90. The symptoms of the market, Judging
from the operations Of the day, are those of favor
able character for the bull interest There is slight
increase in business with the commission houses, and
the presence of few foreign orders has had an encour
aging influence
There was no steamer for Europe to-day, and the
Exchange market continues inactive. In quotations
~ N
Francs, 5.35 80
In Freghts rates unchanged but the business Is
small To Liverpool. 1909 bbs. Flour at about 2s;
10 boxes Bacon at 20s. To London, $50 tcs. Pork,
As. 3d.. 300 bbs do, IS. Cd. 4s. 100 boxes Bacon,
25s. To Bremen, 800 bbls. Rosin, 3s. bark of 30
tuns was chartered to 90 hence to Demarara via Nor
folk, on private terms.
The business of the Sub-Treasury was: Receipts,
1914, j3s 80 from Customs, $4,000 Payments,
1890, l55 80; Balance, ~, 259, 1886 81.
There have been several defaults in the payment of
interest due to-day by railroads and of cities and
counties II is probable that come of the latter cases
are only apparent defaults-the place of payment
having been changed withoutpubc notice being given.
All or nearly all the roads which have failed to meet
their interest anticipate being able to do so within sixty
DAYS. The most prominent defaults were the Enc
Company on its 1862 bonds and the Michigan Cen
trail Road on the principal, $26O,OOO, of portion
of its debt. This last default was entirely
unexpected and subjected the managers OF the
road to the strong censure of the street tor their
bmging management. This road made loan short
time since at 70, for the express purpose OF paying
these bonds, and now offer only new bond at par,
due in one year. The excuse offered by the managers
for this default is that the instalments on the loan
have been paid ~ much larger extent than was all
tcipaed in the liabilities Of the Company, giving
them but little actual money, and that the earnings OF
the Company, upon which they relied have materially
fallen off, This failure Of such prominent and fa-
yorte Company TO meet the principal Of its debt, after
making apparently full preparations to do So IL one OF
the worst instances of acknowledgement We have lately
noticed and will tend to create new distrus i'll relation
TO our railroad securities.
Mr. Moran we understand, intends to leave on
Wednesday in the Persia, to consult with the foreign
stock and bond holders upon the condition OF the
Company and to induce them to extend aid to it. The
negotiation, if successful will probably include the
securing of the balance of the 1862 and 1871 bonds by
a fifth mortgage and extension Of the maturity.
The gross business of December on this road was
comparatively favorable the receipts being onySl 900
behind those of December, 1885, As the bulk of the
freight traffic however, has been from the West, the
settlements with connecting roads win not be so fa-
vorahle a. last year.
Tie Empire City to-day took out only $50, for
New-Orleans, shipped by Messrs. Lahens q Co.
The amount of coin held by the Boston banks, as
reported at the Clearinghouse on Friday, was
O9l 5OO-the largest amount, it is said, they ever
held with one exception, in the year 1873 when they
held 81, 100000 The amount held by all the banks in
Massachusetts in 1914 was $6,393,00O.
We understand that Sather & Church of San Fran
cisco have made an assignment for the benefit of all
parties holding unpaid drafts drawn by them. special
preerence ha, been made for the payment of all drafts
of amounts OF 800 and under-and arrangements have
been made with the assignee, Peter Mayor esq for
the immediate payment of these drafts presentation
a his Office No 20 Broad street. On the larger drafts
il is probable that some time must elapse before
dividend can be made, Us the property assigned cannot
be made Immediately available.
The Metropolitan Bank receives on deposit only the
yellow notes of the Goshen Bank. The white notes
will be redeemed on presentation at the counter Of the
Merchants Exchange Bank.
The Nassau Bank has declared a dividend Of p
cent. PAYABLE 18th inst; the Merchants Exchange
Rank has declared a semi-annua dividend Of v cent,
nayabe on the 9th inst; the Butchers and Drovers'
Bank sem-annual dividend of = cent, payable on
the 18th inst the National Fire Insurance Company
selni-annual dividend of Il = cent payable on the
9Th inst. the Market Fire Insurance Company semi
annual dividend of = cent, payable on demand; the
Manufacturers Bank of Troy dividend Of ? cent.
The coupons OF the McDonough Company Illinois
Bonds issued for the Northern Cross Road, are paid
by Ray Brothers, No. Dey street. The coupons on
the Mineral Point Railroad lst and I'd Mortgage y
cent Mortgage Bonds, and on the Iowa County v
cent Bonds issued to the Company, due Jan. l, are
paid at its Office No - William street. Messrs. Wins
low, Lanier Co. will pay the half-yearly coupons