, 1862-02-07


the proper credit but trust that it is not true as
stated. No bank has the right in order to protect
iteelf from loss, to throw such trouble upon all its
innocent bill lholdcrs. II 1t decides to take such
an illegal and arbitrary course, we quite agree
with the 4dce7tisf7, that the public ought never
to take any moro Of its Issues Of any date.
THE WEsTED BAxK.-The public arc warned
against taking the bills Of the Hinsted Bank,
Connecticut. The institution, having recently
been robbed, has decided not to redeem any OF its
bills now in circulation, dated prior to the I'D in
stant. The safest course will be to refuse to take
any Of then--Neacark Atre7tiSer-
The New York Earress says:
L meeting Of the American Bank Note Company
was held yesterday, to consider the policy Of buy
ing out the National Bank Note Company, and
running It as an opposition concern: Shonld this
craving viii be- established, and the Government m
Tound1y Eubsldiscd. The private profits Of one
man MAJ, IN ths concern must & under the
tint gets IS per 900 Of notes printed with it.
TIE ErrTTsBCRGu, Fort WAYNE & chicago RA11~
wAY--Nc copy the following paragraphs in rcla-
tion to one Of our most important Chicago Rail
WAYS, from the Annual Report of the Pennsylvania
Central Railroad:
On the 18th Of october last the Pittsburgh, Fort
| Wayne aud Chicago Railroad was eold BY the
United States Marshal at the city Of Cleveland to
J. F. 2. Lapier, S. J. Tilden, ]. Edgar Thomson,
| Louis II. Meyer and Sam'l Hanna. Esqrs, n com
mittee appointed at meeting Of the creditors aud
worked under the direction Of this committee, but
will be transferred to the new corporation under
the style OF the Pittsburgh. Fort Wayne s Chicago
next In this new. corporation the Peunsylvauia
Railroad Company holds over one million of dol
lar q II Tbe of a4a ne So o q IT,
Company If substantially the same as proposed by
the President Of this Company while acting in the
sequence ef he inpossibity of Securing falI ace
qucsccure Of all the interests to the plan, it be-
came necessary 10 place the work under the auc-
tjoonecr's hammer, which, after the expenditure
Of much labor, time and money, that might Auye
been avoided, has secured the samc results.
The reorganization Of the debt Of the Company
upon basis Of entire equity to all the interests
seems to have acted like magic upon its securities
| the First Mortgages having been sold at ninety:
five per centun.. which a short time since could
; second mortgages can now be sold for much more
than They cost this Company; they are, however
Carrying ont the measures that secured this favor
able result and saved the stock Investment Of tht
Compan! in that road, tho President met viii
man Of the Finance Committee and also Of til,
( Road Committee.
The Pittsburg, Fort Wayne and Chicago Rail
road Company has, during the past year, done
large and profitable business, fully sustaining tn
policy which dictated its completion as an indie
monstIating its ability 10 meet The interest npo %
: its bonds, while the shareholders VIII, ere long
, t begin to receive regular dividends.
: C1sc,SxA71.-Vc quote from the Gazette Of thi
morning:
Third street has spoken positively and unitcn
in favor Of demand Treasury notes with the lcgz
tender clause: Those who have hitherto been q
posed 10 making paper 8 legal tender have bee
e induced by the course Of Eastern bankers to viii
J; draw their opposition believing the measure ne,
q essarr to sustain the finances Of the Government
u The demand Tor money, which continues plent.
was very moderate again to-day and the market II
good paper easy ats0 per cent while irstcas
names loans are obtainAb1e at per cent. Exchans
= 5e rmer and nearly all the business was done tt
!. T. day At par buying and prem; selling Gold
l. ts disGppar:: selling, H@5prem. Gold, buying,
+ prem; selling, 3@sK prem.
, IF1om the Cincinnati Gazette, 6th.l
ID There were very few hogs on the market, an
$. but little business was doEc. The asking price
2 were $3 ac@360. 1t was very diffcuIt to get yoc
brands OF mess pork at 81. Is. holders being mos
i firm at So The latter rate, however, has NJ
e. that cannot be filled. Owing 10 the difference b
st tween buyers and sellers, there was very lit
s. done Small sales Of bulk meats at aazsc packe
1or Shoulders and &c loose for sides. Lard steat
o. at H465sc for country and city in ticrcc. Whsl
.. advanced to Tic. 1t is now pretty certain tn
H. Congress will not fix a lower duty than 11c. IN
d. is too much unless drawback il allowed on alc
ut ho 1t might as well he &c, If d drawback il
g. lowed Sugar and molasEcs are heavy and
L. clining-
r. GRAND TRCEK EARS1SGs.-Ibe following Is t
f. statement Of traffic Oh the Grand Trunk Railw
nd Of Canada for the week ending 25th January 1st
FTom FTo meSr6a;;sc meSfSaESfs and ire ocl n ~
~ From parcels. nails, and sundries- 1904
p: Week ending e6th jan Inst year..... 9s,oss