The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-06-07
FINANCE AND COMMERCE.
OFFICE OF THE EVENING TELEGRAPH |
Friday lima 1897 4


6-2Os sold at 1854, an advance of I. l092 was
bid for 1862 6-20s; 1864 for 1864 5-2Os; 1864 for
1860 62Os lllb for 6s OF 1881; 99t for 1040s; and
iO69@lO6t for June and August 1905. City
loans were unchanged; the new issue sold at 80;
and old do. at 93t, interest off.
kallIoad shares were the most active on the
list Pennsylvanla Railroad sold at 514@51t,
sligbt advance; Norristown at 634, no change;
aud Reading ct 522@52 8l-lOO, an advance of /.
S34 was bid for North Pennsylvania; SO for
Lehigh Valley; 20 for ElmIra common; 40 for
preferred do.i 26l for Cata wissa preferred; Sc
for Philadelphia and Baltimore; AZ for Northern
Central; aud 28l for Philadelphia and Erie.
In City Passenger Railroad shares there was
nothing dong. l94 was bid for Thirteenth and
tnteenth, and Go for West Philadelphia,
Bank shares were firmly held at full prices
put we hear OF no sales. los was bid for Seventh
National; 236 for North Americs; 1856 for Phila-
delphia; lS7 for Farmers and Mechanics; 54b
for Commercials; Sc for Girard: 80 for Western;
69t for Cityi 6ll for Commonwealth; and l20
for Central National.
In Canal shares there was very little move
ment. Schuylkil Navigation preferred sold at
~ no change. 472 was bid for Lehigh Navga-
tion, and 164 for Susquehanna Canal.
Quotations of Gold-l08 A. M, 1863; III A. NJ,
1865; IL NJ, 1863; P. NJ, 1863, a decline of !
on the closing price last evening.
The New Y ork Herald of this morning says:-
1.-THE money market continues moderately easy at
seven per cent but there very few transactions
line is inactive, and the best grade of commercial
eessy soannS az Ssn ne IN RG S the
amount in its vaults on the inst, sharply crit
upon The department. feE The ioftScomlsE payment
Of inieres! err ON seyen-Thirty notes , aud the ma
ment OF the public debt shows that the Trea-
june than on tEs st Of MSy ThS question IS IS
asked Why The Department sold ssl.Ss4,;5o Of
s2747O675 m the purcra ase OF seventhry notes aud
twenty bonds were Suspended temporsTily. Why
were the purchases OF FIve,twenties not made gTa-
Treasury Increasing largely? The abrupt stoppags
OF purchases that too large an amount
better than this stoppage could have been desired by
ali they desired to caTry We &c can hard sTopsse
that MI Nccuoch intended to play into the ian Z
OF SPECTATORS but he has virtually done so In this
IN previous instances"
The New Orleans Republican, of June O.
gives the following account of the recent inaR-
cial wreck in that city:-
PARTICULARS Or THE SMASH tje OF THE BANK
OF tohhERcE AND JACOB 8ARKEh-rwo HUNDRED
CREDITORS IN COUNCIL-GRKAT lNDIGNATtON ETC.
A meeting of some two hundred of the delude men
the Bank of "o Commerce OF JACOB Barker, recently
failed met in council last evening at Lyce1p Hall
mine into the affairs OF he bank.
George soule chairman, occupied the stand. So
dd a p'tcher Of water to which me two hundred &
IhIst Tor water for money aud Sr the Sl9od OF the
heard amid the low and deep curses in the excited
Mr.. soule made his statement. He advised calm
ness though it difficult for the crowd to appre-
he %as HeP By % is W this
was read Tae COMMITTEES acted wth m for
se on The door Of the bank the ing OF depo1itors
ke rday
Chairman , asked statement from him i'm, he replied
they were much interrupted they could not com
CON mittee that he had some property outside Of this
state which creditors might have but he deemed it
On further demand from the chairman for state,
by slight memoranda list OF houses and other real
estate in this city and suburbs, owned or partially
them. aud the value at which he estimated them
To ali Of this the meetng listened with intense anx
iety. And when one Item OF assets was mentioned.
PAID 70
G s he IT, old saT % Whom SeS "
much confidence could have been so easily gulled.
had eW hundred Collars PeoeSt
ackn0wledged, a the bank was perfect wreck, aud
his estimate OF the t4OOoOO, while his
% h assrs nGt e@ vs91 sad
Soule mentioned some items showing the erroneous
Mr.. Barker suggested Quixotc plan-a kind OF
IN %6o OTy b ouS be- pasd at an
value for the benefit of his creditors This or going
When urged to go on; do business and pay what he
avoid suits before justices, which eau be brought sJT
such sums.
b then paid sums OF l5O t2oo fearing the holders
Of such amounts might sue for 300 before justices and
Unfortunately he made his own choice Of parties ia
making payments, and thus injured the residue by
"Why, this is chatin," said one In the crowd.
"Chate h-l." remarked another, "he was always an
"When the Exchange Bank failed" read the chair
part of M r. Bark statement-and he paused
to ask the date Of that from the audience and one re-
marked that "Mr. Barker had Jailed so often It was
letters from Mr. Barker. Jr, aud from Mr.. Barker,
Sr., then read The former gentleman DrOffered
the liquidation, and mentioned some assets OF his
father unintentonally omitted In the first statement
The letter Of the latter contained the joint stock
plan above mentioned as suggested as nlode OF set
Mr. soule said that as far as the Committee were
enab ed TO determine, and how far this could be done
ment that the books had never been balanced since
ne there Sere a 10 n1es AND posng
In bad state, but how Incorrect none kuew-so far
other property after deducting the sncum6rancss
reach but s2O00 according 70 the best estimates the
the Baronnt street property is placed $50 900 while
MI Barker places at 100000 That of Grayier street
Committee. estimated II not quite 100000 The
estimates ofassets include the known property of both
The books show $4,000 cash in hand. Verbal state
ments show none Inc s4O;GO may have been paid
II. Debts found scattered all through the books;
| one Of s25OcO was discovered accidentally that had
The committee proposed no plan Of &C ion. II is
said Mr. Barker is determined TO collect debts due
and pay out the same 10 whom he prefers this they
advised TO be prevented by Injunction, 80 l., con-,
mttee OF the Whole, TO proceed to hang all cohhec'eu
Mr. soule kept calm. seemed to understand phreno-
logically the character OF the audience ana Dy some
Wise couus-, occurred " zoe course, ,,t,tsa "a
take tbe nroper seps 10 prevent Mr. Barker to "a aus
posing of hts prop ry TO the prenolc sstIsted with
this moved committee to Tegnest Sesh
70 prevent through nus ana to hunt up the banks