New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-11-07

A correspondent Of The London Daily Necs throws
ont the following suggestion respecting United States
bonds:
Another difficulty i the pernoiOus effect upon the cur
rencv OF SO considerable portion Of the debt being held
this side Of the Atlantic to propose remedy Tor witch
IS the object Of this letter 10 was no DOUBT OF eso
able 20 pay much OF her Indebtedness 10 Europe IN
s ho 1u5 petnrneS 70 her for gold at times and in
amounts which she may not De able Without lneohNeu
enc 10 meet The least fear OF European complications
Is now enough 10 excite her gold market To get rid OF
this disturbing element. would suggest that the Govern
mepT with the sanction OF Congress, should issue
600 OF sterling per cent bonds interest and prn
cipai payable In London, 10 DE exchanged IOr s1
10 The dollar. These bonds might have forty
years run and be rodeemabe by annual drawings OF
otherwise. ne was thought most desirable. have no
doubt they would readily he taken in exchange men
ton large amount II - supposed tat AZ pfescht
20 per OF the American debt Is held IN Europe The
American Government would nerelJ have 10 offer these
sterling bonds in Washington - its own citizens ana
on fhs side aud not negotiable In York they would
no more that market for gold In times OF panic
save II 100000 yearly interest she would beside raise
the value Of her FveTwenty bonds az home by reoSlng
the market the extent Of soCoooo aud possibly nave
tho satisfaction Of seeing. long. her sterling bonus
standing they ought TO do In the English MARKET AZ
par
The Boston TrareIler of yesterday remarks:
Loans Of The frscIass we're effected few instances
this call AT g. but the common rate wac per
AT but lower grades ranged from 10 "a PER cent Con
siderable business was done both IN loans and discounts
was larger than the demand for It's use al the banks ana
Ia the street.
The Chicago Tribune Of Monday says:
The week closes on stringent money market Tho
hanks see the absurdy of attempting carry grain 10
he held here for the benefit OF local seculaiions ana
lion pd little favor but there is every disposition shown
10 accommodate shippers, by accepting ehoi une p,i'
more viii Commence as soon as the weather becomes
more favorable Ia the mean time they are MAKING
arrangements for money 10 carry them through The
season.
There IL rood inquiry from the lumberms' for dis
counts The stock OF lumber now IN The hHnos o. a.a
hOrhOOd OF S950OoO, not u speak 81 ath ana Ahses
s"ed 20 close scrutiny at the discount houses, and IA
vors are granted only 10 those whose accounts ehbue
them 10 Accommodation Inlthe open market there il no
dculty III placing loanae funds The rates arr irreg
uaT-rangDg from per cent, according 10 inc M
YORK funds were quite In the forenoon and
sales made between banks az az 40 cents prsniu
hut later IN the day there better supply ana ROUND
,a sold az par The counter rates irregular nt d
count par buying, and par q l.Ie premium selling
10 ~ Edaor Of 7A4 TreuH-
SIR: To certain questions addressed 10 me IN
The Times Money Article respecting late decision pro
uouDcng brokers the Of tho stocks they bnl on
margin make This reply: Tie correspondent diouy
@ry With the right 20 become AN owner In the former
case the buyeI pays the full price obtains possession
In thu latter the buyer merely makes an hsre-cn
nv which on certain conditions ho may become All owner
An owner cannot be Invested of property except by his
however NAV forfeit is ri git to ownership by
Iauce with the OF the agreement under which be
ncnuirc. that right. II ! agree 10 buy house
Tor ti2OoO and pay 1850 Of Il down, ana
agree 20 nav the balance future time, do not
aue the right ~ become the the performance
~ the terms of the agreement and, II fail therein. not
only lose this right but the u 900 which paid 10 secure
IT, So II through my broker buy 100 shares OF Hudson
Plyer stock $1,000 on margin OF 5000, my broker al
once acquires ownership by paying for aud obtaining
possession Of tho stock i, however have merely &C
rd the Right 20 become the on the performance
6f the usual conditions II fall therein not only lose
this right lint may lose the margin which put up TO secure
ship ana the right become the birth 70 the
erroneous doctrine which makes the broker the Pledge
and the stock plcdges doctrine that involves the alb
surdity Of making the customer pledge with ms broker
the stock which really belongs 20 that broker.
so much FOR the first inquiry.
The second T. n question o. damages. When n
contract IL broken the deautng party must suffer the
loss The gives 10 the other ms choice OF two RENE
dies-ctber 20 for specific performance, which In
stock at the price 20 for such damages
would egtmntey arise from the breach ~ the contract
OF course the amount Of damages would depend tho
market OF the stock within reasonable time after
the maturity Of the contract But definite time
usually named between broker and his customer. the
Manage would depend upon the market price OF the
stock after tho customer gives come notice OF his inability
or unWlllnsness TO fulal. Respectfully
The aggregate OF the business OF the Illinois Gen.
trail Railroad for October shows increase Of
sss 900 over the same mouth last year. per follow
ing statement:
,sas .l,77 a3s 1857 o., s3s, sGi mo-. tJGi,t2s