The New York herald., 1865-01-21

rife tho blowing up OF Fort Caswell and the iaon
Of Wilmington being among the former while tho Blair
peace mission to Richmond the chief subject Of tho
latter. After that hoir however, the market expert
enced reactiouay movement and IL remained feversh
and unsettled during the Of the afternoon The quo
tations wcre:-
1920 A. AM..........2o6% 20oP p M.........2of
10 40 A. M..........2 .207is 3.o5 p. M........2O7
% ~ 90 n M'..'..'' 'ooo1 s:1o M'''.''.'aooor
l2;oo d. :.."........zosH DIV T. M...........AooA
100 r. M......... .z02
Money ha bccn castor to-day than yesterday both on
tho Stock Exchange and with the dealers in government
securities the latter being always the favored borrowers
partly owing tho support Of the national bank interest
It has al the been active at per cent
but the dsrus of lenders call has partially subsidized
with tho heavy fall IN prices that has taken place, and
the upward turn OF the market With regard to
discounts however increased caution is shown, owing
to the unsetcment Of values and tho commercial losses
thereby experienced First commercial paper still
rates at a 10 per cent.
The third and last nstament OF the concluding sub
scriptons to the enorty loan will be due morrow;
but as the money will be payable mainly in Ave per cent
notes, through tho national banks and these
bcng drawn upon very closely at present. little
stringency will be felt in monetary channels in
quenco
Tho foreign exchange market Is weak aud Inactive.
The requirements Of buyers small and tho latter
The shipments real to are therefore,
likely TO be qht Tho gold rates for sterling are nomi-
nally unchangednamely bankers bills at sixty days
109h y; at three one per cent advance
The Finance bill, introduced in the House Of Repre-
scn,aives b. Mr. ThGddeus Stevens, and which Is now
pending there allows much scope tho Secretary of
tho Treasury for increasing the volume OF the paper
money afoa that wo trlst II viii be amended before
its passage to deprive the ecreary Of this power If
currency, why does he ask for tho privilege Of 80
doing2 II would be In keeping with the tono
OF his annual report and his Treasury anteccdcnts
to avail himself Of this resort f IL wero left
opon 10 him. The bill 1t stands, virtually allows him
to increase tho by tho entro unissued balance
OF the four hundred million loan OF Juno 30 1854 which,
only little while ago, amounted TO two hundred mil
lions
Congress and tho people must remember that the
heaviest form OF taxation that ho inflicted Is that Of
currency depreciation and this should b.
lutey opposed Tho wording OF the proposed bill as
follows:--
Bc il enacted by Tho senate and House OF Representa-
tves of tho United states Of America in Congress
blod -
That IN icn or any bonds authorized to be Issued by
the first section of the entitled An t. provide
ways ald means for tic support Of tho gogernmcnn
approved me 20, 81 that may unsoll at The
date os this act the Secretary Of the Treas nv may issue
under tc authority Of sal act Treasury notes Of tho de-
OF said act Proeid & f.at The whole 81 Londs
authorized aforesaid and Treasury n0tos issued ana TO
be issued in lieu thereof shall not exceed the OF
four hundred millions Of dolarsi and such Treasury
notes may be disposed OF for lawful money, for any
othor Treasury certificates Or indebtedness or
certificates OF depos issGed under any previous net Of
Congress and such notes siia be exempt from taxation
by or Under state or mum cpa authority
The second setion authorizes tho sale Of balance Of
four millions or Eve twenty loan used special nc
count and other matters Thus
Qa. And hoT 4 ft-tIa aJ bond
vewentiea sied under the act OF 25th of February
1902 remaining unsold 20 amount not ecding four
the Treasury in the United states ~ he shall And
pedien In Europe, at any time such terms he may
deem most advisable And the Secretary Of the Treasury
isfurhcr authorized to issue bonds OF tho dos rpon
sued under the authority OF tho at Of I'D June $780,
In pur5uance OF tho notice for proposals for lonn
dated sh September 1900 10 subs rbcrs to that loan
for ceDtnm deposited under said notice and
repaid Provided, That tho bonds issued Shall bear not
more than re per cenium interest And provided fur
ther That fra tiura amounts DO repaid In lawful money
Of the United States
bill reported by sfr Brandrcth in the State Az
semby this morning for enabling State banks to rcor-
ganze under the National Currency act
Section OF tho provides that the assent or tho
Legislature Is hereby 70 the organ zatou Of
tons for carrying On the business OF banking within this
approved Juno D. lgsi ana the provisions Of chaper 2o
article 3, part q tne Rvged Statutes entitled of
unauthorized banking Ehal not apply to the aus
formed under or on the rotrs issued with
the act Of Congress aforesaid.
sec ANY bak ~ ororated or organized by authority
OF this Stale, which shall become association car
rying the bncss Of banking under the laws of The
United States shall be deemed have surrendered
charter II II shall have complied with the requirements
or this act Pro Ged, That ovey EuL bank shah
thcess bc continued body corporate for the Of
three years NJ tue time o such surrender for tho pur
pose OF prosect ug and defending suits by and against
and OF enab u 10 close is concerns and dispo~o OF
and convey rs property, b1t FOR tho purpose Of
unung under the laws q this state the business for
which II established
Sec B. Whom a bank has voted two thirds its number
OF shares TO become sod an association such bank hall
be deemed to have decided 70 become banking insttu
tion under the laws of the United states
Sec provides that when the charter of any bank IA
surrendered uad the provisions ofths act the members
OF the Board u Directors shall continue to tho b ard Of
directors Of ths ation n be formed with power
20 take all necessary measures 70 carry out tho
Eanzation they may reduce tic capital stock Of aid
bank TO It's par value BY dividing surplus ~ they
mGy deem necessary, and IN OF increase Of the
capital stock may change the shares of such increased
capital stock with like amount 10 place tho whole oi
such capital stock equality
sec provides that when any bank dnc dca 20 become
national bnnk II shah inform hs Comptroller 81 tho
currency and forward tic prODur certificate for s
version Into such d bank.
. bcc provides thai t1c plates nni dies of the bank
Inue cnuslng y national bank be obleraicd.
The subscriptions . the thirty oan received a.
tho First National Bank .odny, amounted to ,22O oc0
The Treasury drafts we're for ST. 100000
The Racine and hsrisairpi and Northern Illinois rail.
roads earned Sl0,59l during week ending yanusry
which Ia increase tro receipts for ,lo samo limo
In 1894 Of se,023.
The entire cost Of the Pittsburg For, w.vr. and
Chicago Railroad stated TO be not far from ,hv nil
lions OF dollars During the year 1904 it, estimated
earnings about millions OF VIII ch abou, ooa
r.~.. A.