The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-03-05

Commerce. 60 for City; 40 for Consolidation;
63 for Corn Exchange; and 65 for Union.
Oil shares are dull an neglected; St. Nicholas
sold at 81.
The New York Tribune this morning says:-
"MoneY on call is per cent, with exoepuoDai
transactions at per cent here are more inquiries
goods trade but the banks not disposed to much
expansion in any apartment Best names pass at
the discount houses 7ltd8 good at Colo, and
ordinary bills at igher raes There are reports OF
commercial failures in Chicago, hut no details are
given Exchange Is % ominal at Os}GlOS3 for oter-
ling. at 60 days, and 22Ba51Ss for francs"
"A proposition has been made to the Secre-
tary Of the Treasury, by a German named Sturz,
tor the issue of land bonds or land scrip Of tue
United States in Europe each bond to represent
the value OF so many acres here, to be taken up
by the holder OF the bond upon his arrival in
this country. Mr.. SturL states that the desire
TO possess piece of land, however small, is
universal among the lower class of Germans
and that the United States land bonds would be
eagerly bought up throughout the whole of
Germany He further states that the sale of
land bonds wouldenormously increase emlgra-
ton to tins country
The disbursements ard transfers of the Trea
sury Department tor the ten Gays preceping the
lst of March exceeded hfty-one millions OF
dollars.
Two small items of interest have transpired
in connection with treasury affairs One hun
dred and eighty-eight thousand dollars addi-
tiona certificates OF Indebtedness were issued
last week, and two hundred thousand dollars in
fractional currency were sent 10 the Assistant
Treasurer in New York.
PHILADELPHIA STOCK EXCHANGE SALES TO-DAY
Reported by De Haven s. Bro No. 40 S. Third street
FIRST BOARD
s2eCO So lS sSS sh s. Mich OIL IS "a
$1,000 City6s new.... 81 600 sh do. lots $50 49f
$4,000 dO.:,.... 81 100 n Gata.lsss , pi.' Ss3
$500 Pa 6s...... e4t 100 sh Hest've r. -. 3iI
$1,000 do ........ S4j 800 sh do. lots "a
HARPER, DURNEY s. Co quote as follows:-
American Gold. ........ ................ 1881 1S4f
American SILVER SILVER mes aau and Half Dime: i2I i
PeRnsvlvapia Currency. ................
New York Exchange. .............,.. 1-2O par.
PHILAD'A GOLD EXCHANGE UoTATIONs.
10 A AM..............1322 l2 l2M................193
II A M..,,...,......1S3 p. .M...............134b
COLUMBIA COLLEGE AND MINING ENGINEERs-
The condition OF the country at present awakens
vide and searching interest IN the future of our
mineral amos They are real wealth, but Ike any
| ether land, only when combined with intel Igent
labor I he labor they require, however differs IN
the chies are in some respects singular In most
industries the engineer is separated from the CON-
mercal administration of an enterprise. A RAJ road
company require no information from their engineer
as TO the probao traffic on their line; they inform
themselves OF thar, and only demand his constIuc'
| But the mining engineer alone can Judge of the
| probable future on q mine, distribute the work to
undertake, and determine the cost prce of the pro-
| duct, whicn Is the basis of al commercial admins
| tralon. Nevertheless, so lmpertecty is the whole
duty tne resident engineer fulfilled IN this country,
tha veIy lew mines do the chiefs illustrate their
daily ork with maps and sections, although these
are absolutely necessary IN order to oresee tho ex
actions of the tutuIe provide for tho replac ng of
| exhausted fields by new and prepare the develop
ment of the production in wlse measure.
To administer mine Is in short to appreciate its
past present, and tHture, and to economlze every
where but requires considerable course offs. ecIai
studies 10 do so lntelligently. I
10 produce is not generally the most difficult pro.
blem, but rather 10 produce at a price which assures
| the progressive extension OF tho works, offers 'e-
curity for time TO come, and makes the enterprise
march in that normal and ra ional manner which
| inspit es confidence. ID
Columbia College was the first of the leaned in
| stitutions 10 Tins country which, aroused by the
| peculiar Importance OF this subject, established
school for the instruction of the engineers we need.
The schoo she opened in 1854 met with success. II
has now nearly eighty voung men STUDYING this
use ul and attractive profession hitherto taken OUT
| of their hands by foreigners Whatever learning
was once TO be found ONLY abroad, is now trans
| planted here, and will he vltahzed by American
culture. As the test of is imitation the
example of Columbia G ,llege was followed, and
| other schools similar to heEs promptly esab-
| lished IN various parts of the United States. The
demand for Instruction tends to increase, and the
school, IN New York will probably graduate for
| some time fl ty Students per year. These engineers
| will have the advantage of a comp etc practical
education, and an Endorsement whose value any one
can estimate by visiting the SchOo Of Mines, Coum-
| bia college. "l-.
II remains to be considered whether there is de-
mand for the graduates. There is doubtless room
for them, but We have now, moreover. an .ttuton
bymeans of which their influence NAV be Distributed
| IOln u CtuI6b lueu dCtlOu kulu0u Dy In6 real
power that moves them-that is, the capital of the
j country. Mr. John Pondir imagined and estab-
hshed a bureau of mines, which is some sense q
| reservoir of accomplished ana reliable engineers.
| These men will come into wider contact with capi-
| ia lists and owners OF mines through the bureau
and so fnd their interest, while the other hand
the capitalists Will find it to their advantage to apply
| for mining talent CT IN normation to the bureau as
the fullest ost accI edited, and independent source
| school OF mines and bureau of mines seem to
be two ideas almost coPnate ana mutually involved
passing from education to application, In the only
orderly way. The interest OF mines is great that
| all foreign nations make its regimen prominent
object of the general government and their schools
| and bureaus are subsidized by the public treasury
| We do by individual enterprise what Government
| must do for a less energetic people; yet in our
method o operating we cannot be wrong in adop-
ing that organization which abroad has made mining
| engineering the most conscientious and perIect in
| tine world Nan York IiIneG