The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-07-16

Thursday. .....................l52 1929 1857
Friday. .lb3x k* 1877
Loans generally made without interest and double
eagles commanded u per cent premium for shipment.
The future Of the market is subject OF ntc-
rest and speculation to almost the entire commercial
community Some persons TO be found blind enough
10 look forward 10 the millennium OF specie payments
within three years but for own part we are not
shaYe in the faith of those who believe in impossible
Ties The gold premium is considerably higher now than
It when heJate ended, and the tendency, in
stead OF being downward Is upward Our imports
. scale Of magnitude which reduces our exports to
inslgnihcance and the immediate effect Of the in
continental Europe Will he to stimulate consgnmens
Of manufactured goods from Great Britain 10 this
try in consequence of British manufacturers being tenn
porarly less the German and Italian
markets. The foreign value IN iod OF the imports at
THE port alone last week was 80 5o0,356, while
the exports for the week ending July Q were
valued at only s2O94 ss2 in currency. Moreover,
we have exported during tho last eleven
weeks less than SAT 2 $50 in gold exclusive of the
large amount taken away in the pockets of passengers
Al the same time the banks OF this city held the tring
amount of 1886 6e at the date OF their last statement
and nearly the whole Of this kept constantly lent out
20 Of the respective banks who "short
20 that a very small portion Of tho coin sup
posed to be in the banks could be found
IN their wants. In addition to all this
no have large commercial indebtedness and about
shree hundred y millions OF securities held abroad
Under these circumstances decline Of the gold premium
cannot be expected and The probability Is that IL wall be
higher before ~ Is mach lower. ETA se7Ecx was s
Foreign exchange has been the whole firm, and
bankers bills England at sixty days closed at 100
4, short sight 110H AN commercial 1914 10sh
Short sight bills mainly in request under the
latest advces owing to the dsrust Of credits which still
prevails abroad. The by the America not likely
exert any material influence upon tina price OF gov
eminent securities here, but u may slight ID
vance in gold. In London IDLY nvstwenfies werc
quoted al o. a x, against esx y by the previous
steamer. In other securities and cotton there was
noticeable change ON the continent there Is I'm
psovement reported and this viii conduee 10 6rmncss
- the market Cor foreign exchange .l Hn s
The North Carolina State Convention has adopted the
ordinance following for cancelng portion Of the Slate
debt by exchanging tho stocks Of railway COMPANIES
held by the State in satisfactory 10 the public
creditors 7sHf.ss
Whereas the destructiou and depreciation or saxablc
Foperty in North Carolina, arising out OF the lato
Sy the public deb, 20 the means which the state pos
sesses for IFS payment and whereas the people
Of North Carolina soictous fully 70 discharge
their Just obligations al the earliest possible
20 their creditors whereas tnther, the Stocks liens
and other claims upon the railroad companies and other
corporations are proces or the bonds Of the State,
issued great part before the twentieth day OF May In
the Oh eight hundred and sixty an
ouistandlng and whereas due regard being had
No RIGHTS Of r,blr crssitors Il were good policy 10 ex
change for the principal % such bonds the stocks and
other property above menoned II such exchange can
be made az par therefore, g. $3.50. III .-....f
src J. Be u ordained Nv the delegates Of the people
OF North Carolina in convention assembled That the
Pub< Treasurer shall advertise Ia snch newspapers As
he select and invite proposals for exchange OF
the principal OF any bonds issued by the state prior N
Che dry Of MAY thousand eight hundred and
xiy for ccracaos OF stock and other interests held
by fhc state 10 various coporuons such bids shall DO
shall give due MOI 70 liem) In the prcecncc Of the
Governor ~ the Sla aud tho Comptroller or public
cconir and y shall bc h. duty 70 accept those terms
vded, That In event shall any Of the said stocks
ether property be exchanged Tor less than their par
value and any premiums which may be obtained upon
such exchanges shai be applied either 10 the extnguis
Of coupons other interest az aDyl due upon the
hsyss ~ the sne as anon other such bonas 81
interest u be aliernaiye at the discretion 81
e TREASURER he paid IN carrensy Into the Treasury and
SOC Az soon AZ may be practicable after the accep
tan 90 any bid the Public Treasurer shall the
bond offered IN exchange, and IN the presence AZ the
Governor and Comptroller shall cancel the same; shall
sro his duty transfer the stocks and such
iiosed as shall deemed necss.ary such convsyances
be In form approved Of by The Governor and the
Attorney General PROVIDED nSwsvers ust the interest
held by the state shall not be than that
a. the holders OF like amount In the general stock OF
fhs several and respective corporations In which the
State may b. q cnrporator.
SEC q Il shall be the duty II the Comptroller 10 take
. Of whai may be done by the Pubic Treasurer
In the premises aud make herefrom such entries On
che books ~ his Office may SECURE iusl accounabny
the part of the Treasurer because OF the psactoas
h<rcinbegore montioned. SKI F
SEc. T. The Public Treasurer shall mako special re-
ports upon the subject Of this ordinance tho General
Assembly n session and this ordnauce shall BE-
subject repeal modification by the General Az
ssmbly.
Tue quoaioDs of the leading stocks sold at the 0rst
session OF the Stock Exchange at the close Of each Of
the last fesr weeks were az follows f .4..