The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-06-22

land, Columbus and Cincinnati Railroad Company,
in view of the decision of the Supreme Court Of the
United States against the endorsers, had expected
that the interest due them would at once be forth~
coming, and limitations TO the contrary have been
received with little surprise It is now understood
that the Cleveland, Columbus and Cincinnati compa.
ny have made no provision for the payment of this
interest, and the inference is that they have de-
termined upon allowing the question to 20 before
the courts on the main issue, they regarding the
removal by the United States Supreme Court of tbe
injunction of one of their own stockholders. which
restrained them from paying the interest of tho
bonds, as nothing more than collateral proceed.
ing. The amount involved, it will be remembered.
was about half a million of dollars The CIeve.
land, Columbus and Cincinnati company would act
more wisely were they to abandon the litigation.
The Boston Post, in its weekly review Of finance
and business, says:-
For days New York funds have been eompsrative-
~ scarce in State street continuance OF this OF
demand over supply would take some specie; and
Tor a while money would probably advance 10 sx nevs
cent or Whereabouts is rather early in the season for
exchange TO rule against this cty nevertheless the nd
cations are that IL will do This Is the only item of the
least interest in our home Market and it may pasa
away; and leave nothing but unvaryng dulnes an0
abundance Money Is easy at per cent on call on
time with occasional transactions at lower rates. Bust.
ness as stagnant as usual in cucumber time" Sterling
eAehanRc sna0e hgher, ana the specie Ship
ments seem somewhat the 1907 was asked
for the best bankers bills Wall street on Saturday but
no transactions were reported above 109X There ia
nothing visible that indicates any tightening Of the gene
raj money market, although we may have reached the
minimum rates and although in Boston there will proba-
bly, be some little advance in price and Temporary
dimnnon OF supply, whenever exchange with New YORK;
Shall rule strongly against this city for any length of time.
With reference to the plethora of new cents, the
Philadelphia Ledger of to-day says:-
small, though to some, perhaps, seemingly unn-
portant matter has been Incorporated into of thu
miscellaneous appropriation bills and is pending in
Congress. 1t is provision forbdding the coinage OK
cents after the LIST day Of July next This coin, within
easy distance Of the Mint has become ntoerabe nui
sance Small dealers are literally down with It, and
are taxed with discount Of from three five per cent to
abundance OF this coin and its depreciation Is its pay
to their workmen thus nfctng the loss Of discount
dephia members Of Congress the greatest sufferers
rem the cent nuisance and II is hoped their representa-
tives viii give the amendment inhibiting any further
coinage Of them for the present their attention and aid.
Col Florence, the interchangeable member from the First
district we are sure, will but need TO be reminded
OF the wrong experienced in this respect TO do what h
can IN the way OF remedy. Mr. Barr has amendment
which he will propose and endeavor to have adopted that
parties hohng FIVE dollars and upwards Of be al
lowed the privilege Of changing them for gold and silver
coin at the United States Mint. The amendment Just
one, and ought to be accepted.