New-York daily tribune., 1865-09-29
THURSDAY, Sept. 2s-P. N

Il THURSDAY, Sept 2s-P.M
Gold has been steady at li3i 9lH all day, and
closed at l43F. The Cuba, at Boston, bring
go, 900 in gold.
Government bonds are strong, and for 7.3Cs an
improvement is shown. No large amount of The
third series could be had better than 90. Border
State stocks are not in much demand The miscel-
laneous list is steady. Anthracite Coal stocks are
in demand. Fancy Coal shares are neglected and
find no buyers outside of a small clique. Railway
shares early in the day were strong and in demand,
with quite large business. At the public cSl
prices were lower under heavy sales to realize
profits. At the Second Board the market was firm
and stocks were in good demand at the decline.
Erie, Michigan Southern and Cleveland and Pitts
burgh were the most sought for The closing
prices were: New-York Central, %; Ere 81;
Hudson, llOf; Reading, ll3t; Michigan Southern,
69l; Michigan Central, rs; Cleveland and Pitts
burgh, -; Cleveland and Toledo, 1851; North
Western, 2'l; the Preferred, 62l; Fort Wayne,
90; Ohio and Mississippi Certificates, 274 Canton,
iOi; Cumberland, 4Cl; Quicksilver, 10.
Money is abundant at sac per cent on call. Com
mercial paper is more plenty, and best is quoted ca
7 per cent. Second-rate is 99l2 per cent.
TIE Commercial Adcertiser says:
We understand that. Mt latest advces. Mr.. Pearson
had not concusyeiy accepted the offer OF English capi
taliss 20 lend $4,000 600 to the Erie Company; but
there no doubt that arrangements wouid be ulti.
matcy concluded. The proposal Is to take the loan at
20, but there reason for honing that somewhat
higher rate would he obtained. The bonds are 10 he
payable thirty years after date in cOn and are 10 carry
per interest In gold The proceeds OF the loan
estimated at 20 and allowing for exchange would be
about - 100000 IN cnrrencyi which wonld enable the
Company 10 pay off Mr. Drews loan or-S2. 600 0ob ard
have balance Of g. fO0 10 be devoted 10 other pur
poses The terms OF the loan must be considered de
cdedy favorable 10 the Company.
We understand upon good authority, that propos.
ais have been made by me owners OF the Atlantic and
Grea; Western TO amaigamae the Erie interest with
theirs las been TumOred have any sort Of prOpO
stons been made by the English capitalists visiting
the West the managers OF the Erie Company IN is
difficult, therefore, 10 imagine upon what conditions
Mr hcllenry and Sir Morton Peio base their conf.
dent assertions that their road viii have d0ube-track
connection with New. York.
A the monthly meeting Of the Erie directors held
YESTERDAY tie reports Of the condition Of fhe road
considered very satisfactory, the earnings showing an
increase ana the expenses decrease. 1t rs stated by
dnecW tnota speculative Onc) that the outstanding
habhie. Of the load, outside Mr. DTews loan, do moi
exceed 100000 -
The quotations for compound notes, buying
are as follows; June, lO5l July, lOl,; August,
l0l; October, 1903; December, l02.
The National Bank Law is discussed at length by
an evening Journal editorially. That financial
authority says: f.s .l
"The Government Gives $4,000 in hank notes f,r
every $4,000 in bonds and for these Bonds d pavs
seven per cent interest in gold"
of what value is the opinion of writer who is
ignorant even Of the rate Of interest paid upon The
National Debt. The banks do not all get 90 rer
cent of circulation, but are governed by sliding
scale which gives the Bank of Commerce So 800, 900
and not $9,OOO,OOO, upon a capital of $4,000, 900
That bank has no privilege under its special act,
except the release Of its stockholders from personal
liability for circulation, which, in the casc of this
institution, is no damage to the public, whatever
ii might be IL the case OF "jar-oG wildcat banks