The sun. [volume] (New York [N.Y.]) 1833-1916, 1862-03-24
+ | N A N G / A L.


TIC business At the stock BOARD IA small wish
every evidence that tho load of fancy railroads s
getting TOO heavy The public do no, see the use of
paying such lgh prices mr nnn-divdend.payin
stocks when public stocks are 30 cheap.
After Tho card there were sales " =. 8. stocks
At = advance, and tho small $40 Treasury notes
cican cvumaud y prem.
The Q per cent one year certificates ~ hiel ted
ness have made their appearance, aul been sold a.
91 a9S Thcy may hc paid NJ ten days notice, but
hst Ia not likely. They bear the name of the payee
and mus, nc endorsed
Tic sales II gold were flir a regular, and ~,
time. Tho quantity exported was t'lay $4,000 by
the Hamu mia, and 100000 by the city ~ wssh
tnyt1u, together 100000 Tho deus aud 1r sterling
billd Is fair aud TIE rsis hrn, showing fur tho pre-
MUM ON specie sales II \ ,il for bankers names
The exchanges NJ tne Clearing House
tIHy w'io'..'''.' ''''.'''''''''''' ~ Nn' ~,
For t"W'ek. ACKNOWLEDGEMENTS. llH att'aNl
lle n".Hu'e tihy ..s...s......s...s.. l.ld'ts4
Tie balance ior "eeS................. N'Ih4u4
Tic Ch,mioa, Bank psyss dividend of Z yer cent
quarterly.
The Hartford aud New Haven Railroad S2h ptr
share quarterly a thc Union Bank.
Tie receipts at the Custom House ills week were
tsb2, ,163 all n demand uotos except o. gii n rrc.-
sury notes
The I $40 notes will have the ntercs, paid Aprl
1t In coin, aud the brokers buying the coupons
par for currency, which gives them profit Of IL
per cent. Thus the coupon of a sioo note il 81 60
cents. THIS bought for paper will be paid In gold,
which Rt 4 prem. tho price of today gives ~ It's
profit but the brokers will hold the gold Tor q rise
The chance that tho whole 81 $4,000 h. be paid viii
come upon tie market now dopr,ssos the price "
| gold.
There arc counter'ciu Of the nulrs uosd Bank
| They are dyca; engraving poor. There no old
plate bills signed Geo w. wtl,u Since his sp.
pointmoni cashier ho has signed only new plate
| bills.
| The marked feature oil the markets Is tho extent
| which Government stocks are ahsorhed hy capital
iss This Ia carried 10 extent TO which does not
Appcar in ths Board aAles but while 10 relieves the
banks Of large portion u the burden thoy 40 long
carried II alro has a marked effect upon their do
positz, which had declined $4,000, 900 In tho week,
and about tl2OOO, 900 since the middle Of Feb
ruary. Ths fact that tho Government stock
ara liable 70 STATE taxation may have important
influence upon this sudden desire 10 pAce funds Ia
| the Federal stocks But those stocks are MOI e1.
empt from Federal taIaton. For example, N the
| Government should impose the income tar, hwoulj
not exempt incomes from Federal taxation. IT,,
statcs cannot however, tax them, and . stat'
was 10 Arsume It's quota Of the FEDERAL wants nn,
lovy the tax ITSELF II might bs . question whcthc
under the law the stocks could be taxed
Tho Government papor issued and authorize
is over one thousand millions, and II sue
an amount Of the national property IL free n
tax, the burden must 10 necessarily ~ muc
heavier upon other property. II IL obvious, how
ever, that the Federal stocks offer much b,tto