New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-12-10

ai,ly for
rade, tie reluctance to make new credit enSs
rerders it difficult to operate in THIS way o''o
ccs. s,ea1v with facs Of $4,000 Tebnessees at the
Second Board at Co. Tie supply OF these ana MIS-
,ois has been increased by the currency troubles OF
~ W., ard does not originate from any ds,rust OF
nroru, COUPON payment by these prosperous and oya
c. The large i,sues Of Missouri and lennersee
- hoo, absorbed 10 an unusual extent AT the "es'
;,bip the last xix months, banking OASIS III 'o
xrsnsion Of the currency, while large crop move
, and revival of general business has stimnla'ed'
TIC exraordinary turn which matters have taken III tno
,olitical AGITATION forces contraction oil the currency
while al the came time decline III the market Na "
the bonds and tie nforcementof western oA'"s "'"o
ols q socri6ce Of securities In the present state
81 ,ho Exchange market at the West however, the
lo,.,s are diminished from TO Y cent, Dy uSnB '"'
,eed, 70 meet demands in that secon Oh the country
Tho continent in Wall street is not very hopeiui III
,eoord 70 the revolutionary movement OF lle oouin'
although faint symptoms Of a more cheeiui leolihs
were unaffected to-day but people are beginning :"
,alcuIate upon the prospects and vaine Oh property
rrder the worst aspects which the question may ue
vcIop. There is an abundance OF money ior invest
ueut in whatever obtain confidence ana the pecu-
lar busnefs advantages of riilways-thelr necessity
for nubc convenience under any circumstancesis not
without its weight in the minds OF men who seek Tor
Ike safest employment Of money. After the Second
Beard the market very firm, and the tendency at
a late hour was TO better prices The closing quota
ions were az follows: United States 3s, 9O3@9i3;
Tennessee State e. 6j3 to; Virginia State 6s %; Mis-
scnri State &c, 646Gi Canton Co., 2l0l3; Cum
b.rland Coal Co.. g 81; Pacific Mail Steamship Co.,
| 7Sa79; New-York Central Railroad, UGIt; Ere
Railroad. 81; Hudson River Railroad, 81; Harlem
IaJ.. In Drafa ~.
inc Railroad, goa 3OI; Michigan Central Railroad, AZ
IS; Michigan Southern and Northern Indiana, ll9ii!i
Michigan southern and Northern Indiana Guaranteed,
~ go; Panama Railroad, 1854 lO9i Illinois Cen
trail, 81 IS; Gaena and Chicago Railroad, 59l G6O;
Cleveland and Toledo Railroad, 2Ot 1901; Chicago and
Rock Island Railroad, 43} 9iil; Chicago, Burlington
ard Quincy Railroad, co 81; Illinois Central Bonds,
| 80.
The market for foreign bills continues dull with a
snply in excess Of the demand. The top price for
banker Sterling is 1922 1903, and rst-cass names
baye sold at rar The inquiry for remittances is very
light. Francs 5i5 $40.
Freights-To Liverpool: 400 bales Cotton at 5-l6d a
3D.; oCOO bbls. Flour at S. 3d.; 10000 bush. Wheat
at L. d. 3d. in bulk and l3.d l4d. in bags; 1900
bush. Corn at I'D. in bulk, and 800 boxes Cheese at
Cos To London: 5000 bbls. Flour at &c. 3D. d3s. lOid
N
| derry, private terms
The business If the Sub-Treasury was: Receipts,
1880 59-for Customs, $4,000; Payments, $l22,-
6l7 a; Balance, g. 800 ID
| Tlis shows n decrease of about 100000 during the
| week mostly disbmrsed foroyer-due Treasury notes.
which continue to 20 forward for reimbursement. The
| new rotee which Congress will probably authorize to
enable the Secretary pay the old ones, must bear
y cent interest or they will find market, and 1t ls
not certain that any important amount could De placed
even at this rate of interest II the Secretary OF the
Treasury ad acted promptly under the law OF June ~
as he was urged TO do by welniormed gentlemen IN
tits city, this necessity would have been avoided Az
that time money in tbs market abundant at u 10
q cent on demand and a 6 = cent on paper and , y
cent loan for two millions, put on t.e market, would
have been at a premium, and have been paid
for Mr. Cobb, in his annual report just sent to
Cong1ess, endeavors 10 cover up his bungng
fnancierng by stating that TO have registered
any portion in advance Of the notes falling due, would
lave subjected the Government TO the unnecessary
rayncu of interest during the time the money would
have remained in the wants OF tie Treasury uncaled
or. There was no power in the Department to call in
e treasury notes until they became due. Besides, the
withdraw of such amount Of specie from the pub
ic would have been attended with the most injurious
effects uron the financial operations of the country
or these reasons, negotiation of any portion OF the
| o8n vCs attempted until the Sth day If September,
1850, when proposals were invited for ten millions OF
| lie loan
| The inference Mr.. Cobb would have the country
draw from this statement is that he could not control
tie Treasury Noles be paid for by the proceeds OF the
an until September when the fact is that at the very
time alluded to in the above paragraph az nopportune
the ssue Of the loan there very large amount
| Of the Notes due and coming due lmmediately-some
| eight millions we think and of these the Sub-Treas-
urer at this point resutd about the LIST July five mill
liens of dollars, portion of them AT q cent interest.
The Secretary allowed the proper time for advertising
the loan TO slip by and now endcavors 10 conceal his
| msake py incorporating facts He had not so much
control Of Treasury Notes in September as he had in
July and but for the financial panic, brought about by
liz own friends which raised the rate of interest and
brought in the notes for redemption the result would
have been September just what he ugesas an excuse
for bis action in July: the locking up of gold in the
Treasury, loss of interest 10 the country, &c. Mr..
Cobb will certainly leave the Treasury with the repu.
taton of having managed il with the most abundant
lack OF ability.
The earnings of the Chicago, Burlington & Quincy
/ Railroad line in November were: in
Patch, ., is5s si lsSo, ese ,ss =;
| Passen9ers.......... 4t.4R - 1919 ~ 2i6tJ 70
| Mail and misce!... 1850 90 21il % sos "a
| Tots........sl7o,7gI n 1886 % sI2l25 Al
Tie earnings OF the Chicago and Rock Island Rail-