The New York herald., 1865-02-03

Money is In fair demand at per cent call
In the discount line first class commercial paper passes
at II per cent The want OF confidence in the sta
bity Of values owing to the uncertain Of gold
consequent on the peace sensation and the military
movements under Sherman, leads lenders to scrutnize
signatures very closely.
The foreign exchange market continues sluggish and
heavy Bankers bills at sixty days quoted at 100
109k three days, ITO 1l0h. Merchants bills are
offered at 10s 10SX.
The Chamber OF Commerce OF this city at its regular
monthly meeting today adopted resolution favor Of
taxation on sales OF merchandise and also dissentod
from tho communication Of tho Boston Board Of Trade
urging the postponement OF the passage Of the national
bankruptcy law before the Senate These are pro-
grossive for this country although familiar
enough TO European communities, and the sooner they
are carried into effect by Congress the better The
tax on sales would not be likely to prove
at all onerous here especially 10 the present deprecated
and inflated condition Of the currency although did
when tried excessively in the Two Scies and elsewhere
and a. heavy taxation has become standing necessity
with us and in tho words OF Adam Smith, every tax
ought TO be levied at tho time and In the manner in
which 1t is most likely to be convenient for the contr
butor TO pay it, think that tax OF one per cent on
all sales would provo productive and less oppres
sve In proportion to the raised than any other
tax that could be levied With the resumptonof specie
payments however tho impost might require to be re-
ducod IL not abolished.
The passage OF the bankruptcy law should not be de-
layed beyond the present session. The arguments
against put forward the Of creditors who
have, OF course merely selfish motive crafty The
experience Of all commercial nations has demonstrated
the necessity for law for the OF honest debtors
and our commercial history during the years
has rendered all the manifest the need in which
stand Of system Of bankruptcy like that Of Great
Il n ~
host Of unfortunate debtors who prevented BY the
absence OF such Law from beneang either themselves
or their credytors
The paragraph which appeared in theec columns yestcr
dAy commencing 1t s reported tha, the extra dividend
IA not being paid to-day by the farmers Loan and Trust
referred the Cleveland and Pttsburg Rail
way Company, but the name accidentally left out
The attachment OF which made mention has since been
removed and the dividend Is being paid
The Ninth National Bank IA of the agents In this
city for the sale OF sevenhirty under the now
nngemont
Tho business at tho sub-Treasury to-day fol-
lows
For customs. $500, 600
Total receipts. oio
Payments. 2agI 20 @
On account OF government loan ........... 65, 500
The twentieth annual report OF the New York Life
Insurance Company has Just been published BY which 1t
appears that tho capital stock has been increased 10
nearly millions Of dollars that scrip dividend OF
Atty per has been declared upon all participating
life policies which were issued twelve months previous
70 January 1895; that the payment OF the nth and
ana nstAment Of twenty per cent dividends Of 1850
V 1890 inclusive has been directed, well the
redemption In full OF those declared in 1851 and 1s02
Certificates win be redeemed In cash and after the
nr Menday March next presentation at the homo
onos During the past year 4,oo6 new policies were
issusd, covering $1s 147,65s.
The Cape Cod Railroad Company have pctiiioned the
Massachusetts, Legislature for permission 10 increase their
cspita stock amount not exceeding 5000 0O0 and
for liberty TO extend their road 10 Provincetown.
The Grand Trunk Railway Company are 10 extend theiI
esck from Sarnia, Lake Huron, through 10 Chicago
1As extension will from Port Huron, opposite Sarnia
70 owasso ninety miles from thence TO Lansing twenty
twe miles from Lansing TO Battle Creek forty.two miles
and from the latter place 70 Chicago, hundred and
sixty six miles-makng the whole distance three hun
drsd and twenty-five miles, which, added to the main
line will render II continuous from Chicago TO Portland
On the Atlantic, one thousand hundred and nvs
miles and connect by the Vermont Central with Boston
and New York
The condition OF the banks OF the three principal
srcia cities OF the Union Ia exhibited in the following
table which shows the aggregate Of their last weekly
statements a. compared with the returns Of the preyou
week
Loans .spess. cirnlai,on .Depc.is
yhas & Jan 20 az ii77sW looim sss27 &c