New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-06-29
TUESDAY, June 2s-P. Il.

AltsiAr, Nc-f n.
Sold is higher, opening at pa and selling up
20 23s. At this rate there a disposition TO SELL and
The rate declined TO 20. Upon receipt Of the news
from Gen. Sherman the price again, and firm.
Stocks upon the street freely offered at lower rates At
the Stock Exchange Governments were quoted lower.
Registered Is were lO4 asked and Coupons li all2;
$40 Coupons l0ial; Tennessee 6s, Sc; Mis-
souri, 6s, e7ia6s; California rs. l55; Can
ton Company, 4oasoi; Delaware and Hudson. $40
asked Pennsylvania Coal lis asked; Central
Coal 7la73; American Coal. e9tQloo; Cumberland
Coal, 0.072; Quicksilver 74d74l; Pacific Nail $3.50
275; Atlantic Mail l75 GIG; Central Transit 35937;
Eew.York Central l4i al Erie, ll5iaf; do Preferred
1921 at; Hudson River I40, l4; Harlem, 275 asked;
Reading, l4l.03 Michigan Central, l4o.; Michigan
Southern, eGi; Michigan Southern Guaranteed, 1921
Rl43; Illinois Central l3idl32; Cleveland and Pitts
burg, 1881 dll3i Northwestern, 53i d53i; North
Western Preferred, esas91i Cleveland and Toledo
144,al44i; Rock Island. llIl all4l Chicago Barring
ton and Quincy. l3li0l32; Prairie du Chen, ~
90; Fort Wayne. ll4olh!i Terre Haute e2@
e2s; Chicago and Alton, s5dse; Toledo and
Wabash 20; 0hioand Mississippi Certificates, o3d53.
The registered sales Ct stocks again triing and Id
several heading stocks there were transactions
Michigan Southern common not sold at all. nor
Cleveland and Toledo Michigan Central, under a
.reely offered al 400, eI dividend In Bonds, little
eoipS After the Board, stocks wero pressed for sale
snder demand for money and ss much as eeat
was paid for three dGys. At the Second Board the
market was all lower, and heavy feeling prevailed.
tYbe decline was fully u q cent. After the call,
VIC market was steady at y cent advance. and closed
dull ca Tie street The closing prices were New-foTk
Central. 1881; Erie Railway, ll4s; Hudson River
$40; Michigan Cs2tral l3s; Illinois Central, 1906
Cleveland and Pittsburgh 1921; Rock Island, ll3i Chi
ce:e and North. Western, 52.; Canton, 33i Central
Coal, 10; Quicksilver. ~; Bucks Co., l.
The new Loan act is in marked contrast with
former laws and Of very conservative charnc.
ter The Secretary Of the Treasury can now pay
80 per cent in currency for e2oO, 1900, rate
which will attract large sums Of money hitherto
employed in specuaons 1t authorizes the reissue for
existing notes paid into the Treasury Of tie 1905 thus
giving to all money employed by the Government the
advantage OF the higher ratea policy which viii thor
oughly demone.ze all interest bearing notes and effect
sensble reduction Of the volume OF the currency TIE
act epryes the notes thus ressued OF the power OF re-
0eeming local bank calculations, disqualification
which will force the local banks to contract materially
The power to negotiate foreign loan viii DO promptly
need and reduction be effected in tie price of gold
far as tle Production VI '"o"Po4 "a
.bsnre can do it. Tie Tax and
Tariff bills in connection with the Loan
act can scarcely fail to prodece healthier condition Of
financial affairs public and private. The tax bill will
At an early day. give tbs Treasury good deal Of
money and bring home to the people the fact that this
rar is financial burden and not simply an excuse for
tAe sne Of paper money upon which visionary fortunes
ran he created In short, the Government has wisely
oo,ermined TO tax much possible TO pay its e.
venses and TO borrow little rs II can Tie moment
thorough taxation and borrowing in open market arc
Astermined upon money rises n value, and comnod'
Mics fall The law absolutely prohibits tbs increase
Of United States notes assuring the public that The
volume Of the currency has reached It's maximum and
Ifs reduction viii he effected steadily by tie Govern
rent Tho money market aud the Stock Exchange
already feel the effects OF conservative legislation and
IN good time every department Of business Will conform
20 the new order Of things The second section Oh the
bill reads as follows;
SEC Andbe further enacted That The Secretary Of Tx
Treasury issue the credit OF th, United S,ss ana u
lieu Of an equal OF bonG5 authorized by The precedn
hst section and part Of sand osn not e1 edns ~
10000, in Treasury notes Of any accumulation h0 eA@ W.
PAYABLE time not exceeding three years from de
or thought eypedient, rcdeea4b4e Al any uc s.'
three wears from de interest not exceeding th'
rte Of 10 Del ceutu PAYABLE IN lawful money at rlstu
rty, At the discfeon OF the Secretary sn shehHy
And the ssd Treasury aotes may be dpoed oil by ". al
the the hes. terms that can be obtained
money; such Of the shah be made payable
principal and interest ct msiuy shall Dc legal tender 70
e United States notice for their face value
4Ieodng interest," aud may be paid 10 creditor OF the
United States at their face yslue excluding Interest or To any
Secretary Of the Treasury may and to
b. Cancelled and destroyed Treasury note United States
Congress and Substitute IN Ken thereof an Equal amount Of
Treasury notes such authorized By thus act OF Of ohe