New-York tribune., 1867-09-17

in 1896 through the operation of marketing the
crops The Government at that period through 'he
paymen of $ 900 900 Of temporary loans suppeu loi
commercial purposes more money thah the paiihs "a"
oo,I il, the form of legal tenders. The banks at
that time were glutted with National bank notes.
which they were glad to loan at nominal interest to
get them into clearinghouse money. September
1871 sees all this changed. The Government has a
small amount of short debt to paY the banks nave
no surplus of national notes, and commence TO move
tbe crop with the legal tenders only few millions
above the point at which it stood when navigation
closed last year. The cheap money period has passed
for the present and bids fair to he followed by
greater strngency than has been experienced for
long time.
The Pittsburgh, Fort Wayne and Chicago Road
pubshcs its profits for months 290 ~
Estimate for months. soo'o
Probable increase 10
less ntfresl i SiiSG7s
Less 10 per cent stock ll4.V :, 10 mi,
Less L. ). tax on diydend............' o'OV
r.,.,.,...,... ...... sG.73i
Ifthe Companv pay the Cleveland and PIttSDufgh
- ,,,,b aslast wear s2OQOis there viii be dehcit
IN nay interest of S473l4 During the year the Con
o- =, understood TO have sold SjOO0OO of stock al
N nor cont giving 81 100000 for the payment OF iloat
;., AIT and new work Ii is very evident that the
, nor cent distributed and the tthe of dividends
co,nes in part from borrowed money. Then forced
dividends are commenced at the instigation OF gam
bIers in the stock and the managers OF the road do
not appear to have moral courage enough TO reuUce
them to the actual earnings. The August earnings
compare as follows since 1854 the speculative year;
1884 - sG25jH 1sG5............SiiSOi3
12sf 6is.90h lSG1............ OO2.pJJ
Decrease compared with 1854 ..........' S55'9,2
Decrease as compared with 1865. .-..--....'. Io''
Earnings Of the Atlantic and Great Western Ran
way for the first week in September:
lsG7.... s1l23s7 1SGG. .Sl2j3'O Dec..SlOy'
The receipts of the Grand Trunk Railway for the
week ending August 81:
sl23C7G 1866 ..... N3oS57 Decrease. Sd,GSl
The Cincinnati gazette of Saturday remarks:
The demand for money still active, but net very
pressing Money coming IN from the country through
the channels OF trade, and the maturing pay ehs az
generally promptly met, that there an easier tone 10
the hatagt a,Ilo"s (oad con'n,rrCoI noucr /,
taken more readily In the open market at lOdl2 per cent
The market for exchange is defaeuy mmG' hc,e
active and constantly increasing deiIhu thoI9 T.
scarcely any exchange being made now through the sh
mcnt of Government securities, and the produce move
ments to the seabOaTd not sufficiently Large 10 spy
enough exchange for the current demand osl oi lnc
bankers took It to-day at 50 cents discount and there
were large purchases made at the close at par Inc sr
asked.
The Chicago Tribune of Saturday says:
The demand for money by dealers in grain active
and the fact that many OF the banks are
daily in receipt OF large sums OF currency from New
York the supply Is rapidly reduced by the heavy snip
produce TO the seahOard, and Eastern eKchh-t
is becoming rather plentiful than agreeable. me
mercantile demand for GOney was lght auu Hfslc
borrowers were promptly accommodated M the cullcli
rate of 10 Der cent Call loans quiet al per cent
with Government and County and Munclpal Donus q,
collateral Eastern funds were lower, and majority p
the banks making adscount on sight drafts on NtW
York "a. Buffalo of e. ami on OsWc-u ~ ~
cent Between the banks sales were hiade dt = = l
per 81 900 Oft TIE counter selling rates Tor small lois
were steady at par
! The following from financial source at NashNlAe
| is interesting to holders of Tennessee bonds:
In answer to yours Of Aug % (Which have delayed
uuii cOuld procure the information in trustworthy
forul have from the forthcoming report Oi the Con
/ trOer OF state aS follows: .....-- -,
The entire taxable property OF the State t2303- 3l
The rate, 81 80 per 1000 producing ...----.- llb
Revenue from Clerks of Courts 55OV
Revenue from poll l'''yW
Total exclusive Of railroads. H55'G
The Controller has not made out all the liabilities OF Tho
different railroads interest Receivers have been ap
pointed several which will insure the net earnings u
le state and the certainty that other receivers VIII %
appointed for that may default III January next VII
has uecIued naU fe railroads must comply 0tflnG ~
ter of the law and pay the interest into the Treasury
DAYS before 1t falls due in NewIo ork know that Gov
BrOwnlOw intends TO pay the interest prompt II there
any virtue in energy, and II the officials who have carg
OF Will not do So they must expect TO be removed
far as he has the power
TABLE Of me Looms, SDecp Cirru1ii0p, Deposits.
Icg0i ICHderS IN me BnES Ofdhe city ~ Aec York fOi
fIT treet1 linn ,fyfy,fOy g.f I2c-