The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1867-06-17
FINANCE AND TRADE.
Financial and Commercial Item.

Financial and Commercial tems.
The Sub-treasury at New York is now
converting August 7-3O notes into H-2o'
of the new Issue of 1865, by allowing
the interest on the former up to the
first of July, and delivering bonds Will
the July coupons cut oft.
The Philadelphia, Wilmington and
Baltimore Railroad Company has de-
clared a semi-annual dividend of pei
cent. on the capital stock of the com
pany, clear of Government tax, payable
ON and after the LIST OF July.
The earnings of the Marietta and
Cincinnati railroad f.r the fourth week
of May were S3l, O4l, decrease of s., 4l
OH the same week last year. Total fol
the fiscal year, commencing on the Isl
of January, S441 ,05s, ali increase o.
81, 1873 on the same time 1866. The earn
ipps for the Iirst week of June were
81, 3:29, decrease of 81 ,eH OIL the same
week last year. The earnings Tor the
fiscal wear so far are S463, 1887, all in
crease of $3,476 on the same time in
1866.
The July interest on the State bonds
of Tennessee is now advertised to be
paid at the Fourth National Bank in
New York city. 1t is stated that nearly
every railroad in Tennessee is now earn
ing, net, far more than the half-yearly
sums required to pay their first mort
gage interest to the State-and but few
of them have any other interest to pro
vide for. Some of them already pay
handsomely on their capital stock since
the war.
The New York Post of Thursday even
ing says: "The flow of currency from
the interior continues in favor of this
city, but in the absence of any positive
assurance as to the policy of the Treas
ury in discussing, there is much of in.
gertrude whether the heavy June re,
ceipts on account of taxes will not
cause stringency, or at least check the
development of permanent ease to the
market before July. The anticipation
that preparations for the next quarter
" bank statement may induce the banks
to contract their loans has also some
thing to do with the production of the
unsettled feeling.
"The internal revenue bureau has
now on hand "a 200 gallons of spirits,
and about 250, 900 gallons under seizure.
If properly seconded by the honest and
honorable portion of the trade, the out
rageOus frauds practiced III it may be
very etfectually broken up"
According to Washington dispatch,
among the assets turned over by Mr..
T. 2. May, to make good the defalcation
in the Sub-Treasury at New Orleans, is
the New Orleans and Carrollton Rail
road, seven miles in length, which is
now operated by horse or mule power.
Mr.. May had lease of it for thirty
years, at $50, 1000 per year, with an in
crease of $500 each year. Certain friends
of Gen. Beauregard now desire to pur-
chase it, and offer $240,OO0, which the
Government declines, and will offer it
mt public auction soon to the highest
bidder.
Among the questions of interest be-
fore the Attorney General is one arising
under the Internal Revenue act, laying
Il tax of ten per cent. on the notes OF
parties or institutions of all sorts cir.
culating rs money, which in this case
involves question whether certificates
proposed to be issued by the State OF
Alabama are bills of credit, and as such
prohibited by the Constitution of the
United States.
The Pittsburg Commercial of Saturday
says: The business at the banks yes
terday. so far as We could learn, did not
vary i'm amount from the usual average
of the previous days of the present
week. 1t is thought that a large
amount of the paper offering cannot bt
considered strictly prime commercial
paper, and therefore the heavy demand
for money does not arise from activity
in trade, but from desire to carry for
ward Indebtedness that the profits of q
customary spring trade would have
Inundated. BIT the average volume o
| the business that should have come wa,
far beneath the expectations. There i!
really not much strictly new paper made
now -a-days by parties whose signatures
constitute it gilt edge, aud what il
made is discounted at the usual rates il
bank. Many of this class are lenders O
money, and supply in y quiet way {
great portion of the means that pur
chases the paper offered on the Outsid,
market through the brokers, where they
can make Investments at from ten
twelve and fifteen per cent. There is
it is true, at this season of the year
large amounts of money required in tn,
purchase of wool and the piling Of. lum
Der. Onr heaviest lumber dealers arr
laying in large supplies at prices tina
will justify the ventures, and wool is a
| such a figure that dealers consider SAT
for vigorous action.
The foreign trade Of the port OF New
York for the month Of May and tn
previous months of the fiscal year, "!
tiud published at length in the JournQ
of Commerce, the figures of which "
herein condense for the information Q
our readers. This statement is mncl
more reliable and satisfactory than tina
furnished by the Bureau of Statistics o
Washington. The foreign imports q
the port of New York for May amount
ed to 81 ,s52, $50, against $2S,sls,447 il
the same month last year-showing
decrease of imports, the amount with
drawn from warehouses is about tw
hundred Thousand dollars less than il
May of 1866. The imports since the LIST @
January, being five months, amounted
to Sl2S, sos, s55: against Sl40.666, 379 Il
corresponding time last year-showin
n decrease Of about fifteen millions @
dollars. The amount withdrawn fror
warehouse for consumption, notwitt
standing the lessened imports, is abou
ten and half millions greater than i
the same months last year, The import
. for the eleven months Of the fiscal yea