New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-10-25


terest to be twisted or foolish buying from the
outsde public TO relieve them OF load daily becom-
ing burdensome and more unstable. The condition
of this property is too well understood to make 1t
easy TO induce people TO buy it on tho strength OF
what has been done on the Hudson River in the way
of economy That road was built without being
robbed at every point by its officers and employees,
and its shares and bonds the 1st of January, 1867
represented the honest cost of the best located road
for permanent profit in the Union. The stock,
bonds. and leases of the Erie, on the other hand,
represent the nexperence and ignorance of its man
ayers in it's earlier days and tho mismanagement
and stealing of long series of years. Al the plumbers
and financial crimes Of The corporation hare been capital
I'D and il is absurd TO expect the concern to earn
interest upon them. Its value as an avenue OF COM
merce is as great as the chances of dividends are
small It's expenses grow faster than its traffic, and,
with sl5OOOOO0 per of earnings, dividends are
more uncertain than when si,5Oo,0OO was taken.
There is now a continuous railroad communication
between Chicago and ST. Paul. The last rail IN the
chain was laid at Adams, Mower County, Minnesota,
ON Monday. The distances by the new route are as
follows: Chicago 10 Prairie du Chen, 2S miles,
Prairie du Chen to St. Paul, 4S2 miles.
The Milwaukee and st. Paul Railway Company
have lust completed their line of railway from Cresco
10 OwatOnna, thus connecting what was formerly
known as the McGregOr, Western and Minnesota
Central Railways. This gives the public an all
rail route from New-York 10 81. Paul and ST.
Cloud distance of about l. 800 miles. one-third OF
the distance being the Milwaukee and st. Panl
Railway This company DOW owns SIS miles OF rail-
road at cost Of s5O5O0O00 or about $4,000 per mile
The Illinois Central Company have leased most
important and valuable Iowa connection from their
main line which now terminates at Dunleith, opp0-
site Dubuque City, the Mississippi River The
leased road is the Dubuque and Sioux City Line, run
ming at present IA miles from Dubuque west, anu
soon to be opened to Fort Dodge labout SO miles adj
ditional POO miles from Dunleith and Dubuque,
across one of the best agricultural districts OF tho
State OF Iowa. Ultimately the Dubuque and Sioux
City Company will extend their line to the Missouri
River at Sioux City, the whole to come under the
terms Of the lease TO the Central Illinois Company as
the road is opened which lease is for twenty years.
The charge for the first ton years il IS per cent of the
gross traffic and taxes and for the second ten years
80 per cent and taxes; to be paid in cash TO the
Dubuque and Sioux City Company monthly.
The Springfield Republican Of yesterday says:
The Boston and Albany Railroad Company, made mp
10y the union Of the Boston aud worcester qua mesih
roads, will bee Organized al bouton today. me IT. ~
will be substantially the present directors OF tHe Two
consolidated roads; Mr. Chaplin VIII be PRESIDENT or;
Colt the legal adyl-.r ana me pr,e IT, - ,,,h
The two roads continued ~ charge 81 we u.ts
Mr. Lincoln, some other cloioe OF the bostoh au
ocser utcreA: vccpresldcnt or managing DIRECTOR
aud resident at Boston.
The business lof the Sub-Trcasury was; Re
cepts for Customs $3O3OOO; Receipts for Gold Notes
sn8C1O Total Receipts s1,ZS2,Ci9 A. Total Pay
ments, 81 .9CS.sC9 Us; Balance, Sll3Si6,s9l ~.
Frcights-To Liverpool. by steamer 10000 bush.
Wheat at ls and so bales Cotton at }99-lGd. for
compressed To London, q GOO bush Wheat at lid.
A vessel o. 800 quarters Wheat, and two Of 1880
CHARTERS d. all "a Cork for orders AT a. Cd, or 10
per cent additional if 10 the continent. and an
American bark with Tobacco 10 Genoa at 45s and
back from Sicily with Emit on private terms.
The Chicago Tribune of Tuesday says:
The week opens vith brisk and rSSnc demand for
money and boz most bank arlorr tLc marx, u NuleIE
ON much larger scale than 90 any time within week
or ten DAYS pact one house rcmtied s6ogJ tcdsy 70
it, country correspondents The offerings ~ gram paper
~ time bills ON carg0es aud iur speculation rte-ale on
tho incrr-e while the miscellaneous demand h steadily
ne merchant. an getting siderable Ia tbc way 81 col
erols hut very little II being received nom e o"1
try banks. In the open market Tie demand b 'igady
cent but others cannot be done for les IMAM -,s-t per
cent The Offering Of NOrN funds were sht auC -
Early an the banks huyers, tho market was 90
ed,,y nrintr Round lot- t0.d at tal-lo discount cos
g pih more buyers than sellers at the outside iEuie
count buying. Buffalo anu OsUeyu bills, ai OF.
The following somi-5ilicial remarks accompanying
the Controllers abstract OF the condition OF the New
York City banks on oct. z. conveys very mistaken
impression:
The agc gate OF circulation and deposits r. nbout oHs
hundred md nneg million for lch reserve of - cf
cent f0rfu millions ~ lawful money T. required Di
SECTIONS 81 aud OF the The foregoing abstract
shows a ~ slXtytWO millions, or eGhf PER ee"'
more MGn required.
An evening paper correcting tins statement, s'ys;
The combined circulation and deposits amount 20
Sai 100000 not Sls1 oDco here stated and requires
"A Legal Tender reserve 81 SCI 10000, not Af0VD as
above affirmed Now, the lawful money reserve COM
pr-nc specie compound notes, and gseeubach6 amouht
10 sCl sssO or SsisfNJ IN of the legal require
me Really Therefore. the banks, in6tcad OF HAVING
Der cent more reserve than required. here rproented,
are working only lust within tho legal limit Inc per
ceutage q rrenbacks to deposits aud circulation ~,
which must regarded beng properly and practically
the only reserve there - not BANK IN
the CIV which would sooner suspend than pay It's
depo.ors or noehodrrs either IN compounds bearing
nearly ~ per interest," or IN gold AT 20 premium
TIE MARKETS.
fCsr,tiD rcgors~ The TRinuHE'