The New York herald., 1862-07-31

dsnce Is naturally tsnding 20 restore matters to
the condition whcls existed before the battles be.
fore Richmond. fhe Persia to-day only took out
s3ia.00O in sTecie. IN . very short time our
specie shiprcnts win cease sltogether, unless we
again receive remittances Of stocks from the other
side, Which is not very likely, in view OF the inn
proved earnings Of the railways aud the increased
value Of their bonds and stocks.
The stock market was strong to-day. and there
was considerable increase Of business. The
leading commission houses report an increase Of
orders 10 bny; the orders to sell few in num-
Der. Lord Palmersions speech appears TO have
demolished the prospect Of foreign intervention
for the present, and this was what the stock ope
rators feared most The debate In the British
Parliament. the harvest advices from Europe,
which render ID certain that England and France
will require q large amount OF grain from this
country, and The progress OF recruiting, operate
favorably upon the market, and tend 10 strengthen
confidence and develop speculation. At the first
board to-day government skies advanced per
cent, Missouris "a, Tennessees z, New York Cen
trail =. Erie Erie preferred "a Harlem Is, To-
ledo Galena "a, guaranteed =, Michigan Cen
trail "a. Rock Island u. Railway bonds were in
better demand and more active. without import
ant changes in price. Between the boards the
market was Arm, and remained 10 at the second
board. Central and Erie were both 4 high
er. These two stocks appear 10 attract more
attention Just now than the Western shares.
Their large traffic ID doubtless the secret of
| their popularity. We learn that the lead
| ing grain roads are contracting for . fresh
| supply Of freight cars. At the close, at
half past three, the market was quoted firm, the
following being the last quotations. United States
6's, coupon 1881, 99A 99sS; United States SIS,
| 1874, SGN 81; Treasury notes, $40 pei. cent,
1927 lO3; Tennessee 6's, 60H 5Os.; Virginia
6s, 50 q = North Carolina 6's 66 q 6s; Missouri
6s, 46 46sI; American gold, ll41I ll5ss; Pacific
Mail, lllA lllH; New York Central, 9s a
| 93N; Erie, 81 q "a; do. preferred, 62s% . So;
Hudson River, 4414 a 4511.; Harlem, l41I l41aa;
do preferred, s514 a SO; Reading, Sc a. Michigan
Central, go 60; Michigan Southern and Northern
Indiana, 25A q 2511ls; do. guaranteed, sc 66114;
Panama, l341I 1876; Illinois Central, 571 q
| 57s4; Galena and Chicago. 6s14 a 6sH; Cleve-
land and Toledo, 47ss 4711ls; Chicago and Rock
Island, 63H 63s4; Chicago, Burlington and
| Quincy, IS =; Milwaukee and Prairie du Chen,
| 3lA 80 New York Central rs, 1876, 100 Ito;
Illinois Central bonds, rs, 93L . 95.
singular case has been presented for the con-
alteration Of the Stock Exchange, which may tend
to give increased confidence to contracts made be-
| tween corporations and individuals where the
money Of the public is taken in exchange for bonds,
to be used for the benefit Of the latter. Nsppears
that the Toledo, Logansport and Burlington Rail-
road Company issued and sold through members
of the Stock Exchange some $500 Of their bonds
in 1852 for the purpose Of building the road to in
49, NIL ~,
Panesville and Ashtabuls, tho Bufialo and State
Line and the Toledo and Wabash. These four i'm
portant lines saw the benefit Of the connection and,
in order to facilitate the sale Of the $500 900 Of the
Toledo. Logansport and Burlington honda, entered
into an agreement to absorb them from month to
month at par, after the road was completed, to the
extent of . certain per centage Of the traffic
derived from the connection. The amounts 70 be
absorbed were "a follows:-The Cleveland
and Toledo, 5000 900; Cleveland, Painesyille and
Ashtabula, $3.50 900; Buffalo and State Line,
$3.50, 900; Toledo and Wabash, 100000. It was
computed that the whole issue Of $500 900 Toledo,
Logansport and Burlington bonds would be
redeemed by these means In some three or four
years, and hence the inducement TO capitalists to
purchase them at from rs TO S0-the price at which
they were all sold. The sale was made the money
paid, the bonds issued, the road built the increase
OF business realized to moderate extent when, to
the dismay of the bondholders, the Toledo and Wa
bash and the Buffalo and State Line refused on some
legal technicalty bubble, to fulfil their bargain
the effect Of which was to strike down the price
and destroy the currency Of the bonds from that
day to this-nearly three years. To the honor Of
the Cleveland and Toledo, and the Cleveland,
| Painesvle and Ashtabuls companies. they de-
cned to be parties to this act Of repudiation, and
have faithfully performed their parts Of the con-
tract. The Buffalo and State Line and the Toledo
and Wabash persist in their policy, and the bond
holders, in order to avoid a. far as possible the
expense and trouble Of protracted litigation, ap-
| peal to the Stock Exchange through the members
| of which the negotiation was made--for such re-
dress as they can give under the rules regulating
| OF affecting the question Of contracts. The Board
with bat one dissenting vote. referred the subject
| to proper committee, by whom the matter will
be thoroughly investigated. If the facts are sub
| stantialy as stated, and the Board should follow
| its ordinary resolute and uncompromising course
the securities Of the repudiatng roads the Toledo
! and Wabash and the Buffalo and State I.ne--wilI
be stricken from the list and no longer dealt In
BY the Exchange. It Is by such acts as these that
the association wins is stronger claims to the con-
/ fdence Of the public. f..,.,. 81. f9.r
The business Of the Sub Treasury was a. follows
/ to-day
Receipts. >e2s ,oa1 90
Fer customs. 45S 900 %
Payments $50 ,p7S 65
Balance -. ,7o3 $50 Is
The exchanges at the Bank Clearing House this
morning were s20,2l7,9s7 IL, and the balances
81, ,292, ,2ss rs. y
1 A telegraphic despatch from London on the 10th
notices American stocks as dull. Erie. 27L a %
per cent; Illinois Central 4o% 4S1I discount.
+. y. satterthwaitc, in his circular, remarks:-
| The market for Auericln securities In London has
been further depressed by the recent nows OF
the federal army before Richmond aud by the incrsas
nalx hIch ratio Of exchange Shprers decline buxnr Al