The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-07-23
The New York Times this morning says:-

The New York Times this morning says:--
we call attention 10 the proposals OF the
Cuy Comptroller for 100000 New Aqueduct
stock, buds for wblch will Ge opened at the
"a, 1866, at 2 O'Clock p. nj. THIS stock will bear
interest at per cent Der anuum, payable
quarterly, and the principal will be redeem I'd
on the list day OF August, 1884, from the Sinking
1--WE learn that the Receiver of the Merchants
National Bank of Washington has instituted q
SUIT IN the Circuit Court OF the United States
for the District Of Southern New York against
one OF the Ralonal Banks of this CITY, Tor the
recovery OF $209,0O0 of the securities OF the ex-
Dlooed washing on con cern. The New York
Bank, It appears loanel $500 to the wash.
ingion Bank and $50, ,O0O to its President. indi.
yidually, on the post notes OF the bank at Is. 30.
30, ana go days date on the pledge ot collateral
securities. The National Currency and Bans-
ing ACT ol CONGRESS prohibits the issue
OF $4,000 was paid OIL but The New
YORK Bank holds all the collateral for the re
n aiming $l5O,0OO, only $780, 900 being due from
the washington Bank. The Receiver claims
the restitut en- OF all the securities on the
erou d. FIST of the i'iegality OF the whole trang
act on as being made on post notes. and of the
improper use OF the securities of the Bank for
me nl1,ylduel transactions OF The President. The
case will probably be appealed to the Supreme
Court OF the United States, whatever NAV be the
decision in the Circuit OF Southern New York
II is only one, bat not the least interesting, of
Inc many cases, civil or criminal which have
already been or soon will be instituted in refer
ence TO the affairs Of the Merchants Bank of
Washing TOM
The New York Tribune this morning says:-
'MoDev was offered in abundance to stock
houses at per cent. Loans were made in ex.
ceptlonal cases at per CENT, but sac DER cent
is the usual rate. Prime commercial bills are 6
per cent., With sales OF short dated at 5l.
"lhe reden ptlon of One-year Certificates at
the Sub-tTeasury is small, and this cl1ss OF obi
cations is now nearly retired. The next step
VIII be the payment OF the temporary loan
towards which the Government has a balance in
this City OF full $30 600, 000 upon which il should
nave interest. AS the Treasury, from internal
revenue, will now I've in possession of a large
surplus over its daily expenses, there seems no
good reason why substantial payment should
not at once re made upon the temporary loans
and the rate be reduced TO per cent. upon this
class of indebtedness. -.
THE exchange of 7'30s for 5-2Os proceeds
slowly, and this plan Of funding does not pro-
mise great success. As 5.2Gs now sell, the party
holding 1905 loses B@1-lO u cent. by eXchang-
ing, ii he desires TO sell the gold bonds. The
Oh, rt time the 7'30s have TO run before they
can be exchanged Tor money gives them great
value with parties desiring shorE investment
ana they will not be funded unless better terms
than are now 2iven are made If a moderate
commission was allowed a general agent q large
amount OF currency debt could be exchanged for
collaborating stock with advantage to the Gov
ernment."
Government securities were quoted on each