New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-04-19

Receipts 81 800 81; total Payments $2G55o9s ca
Balance. $1l076GO9S 49,
The Rock Island Road earned the second week In
April Nd.
lsG7......s74O6 1856. .sei sTI Increase $500
The Michigan Central Road earned the second week
in April:
is67.....ssi,2oe .ss3.sc3 Increase ssI3
The Cleveland and Toledo Road earned tho first
half Of April:
1865. sll3i99 1867 sos 0I6 decrease soss,
The local traffic in freight and passengers shows a
large decrease.
Flour is now shipped from Chicago TO New-York a,
81 per barrel, with other freghts in proportion. Az
such rates this it seems very natural for roads ks
the Michigan Southern to borrow money to paw its
coupons due May1 The temporary stimulus 10 rail-
way enterprises given by moving armies and supplies
during the Rebellion is fast disappearing and tho
old fact remains that roads moving agricultural
produce in large amounts cannot earn enough pay
interest cost. Another great fact is also apparent
Owners of real estate in cities, farmers travellers
express men, and railway employees are largely ben
fitted by the losses suffered by shareholders in rail-
way enterprises"
We are requested to call attention of investors to
the bonds of the Central Pacific Road, for sale by
Messrs. Fisk g. Hatch The merits of the security
are fully set forth in their advertisement.
Parties holding 7.3O notes should remember that
they are convertible into $50 bonds at maturity and
not afterward. The Secretary of the Treasury, by
giving notice that conversions may be made before
nlGturity has taken away any excuse for claiming a
conversion after the notes mature.
The law under which the 1905 werc issued left the
notes. On this point the act Of june 80 1884. reads
"And Treasury notes issued under the authority OF
tis may be made convertible at the discretion the
Secretary into any bonds Issued underline authority OF
this act"
by virtue of this discretionary power the Secretary
issued the So notes with the following condition and bar
gain, plainly printed on the back Of the notes:
Atnaturity convertible, at the option OF the holder
bonds Iedeemabe Mt the pleasure OF the Government
at any times after five years, d payable 20 years from
the 18th August 1857, with interest at six cent
anDum, payable semiannually, In coin.
This Is on the August notes list seres. The same Il
the back OF the 2d and I'd series with the time changed 70
June 10 and July 10, 1868.
IL rs plain that on the very next day after the sos
mature the holder loses the right OF conversion and 1t
now quite evident that the Government will pay tho
notes, not timely presented In money
Respecting business aspects in England The Londos
Neirs of the I'd inst contains the following:
IT IA unsatisfactory 10 remark continuance OF the
feeling of mercantile disrst which has been bequeathed
TO legacy during the past year. The tlmldiey
manifested by persons in business their indsposion 70
enter into any but the most ordinary and routine trans
actions and The unusual number Of doubling and hestat
ing Inquiries 10 the position and credit OF mercantile
firms which being constantly addressed 10 BANKS
prove how severely confidence has been shaken by the
disasters Of the past year. aggravated as they were b
the needless prOOngatiOn OF panic rate az the Bank OF
England II Is known that the resources OF many houses
have been seriously impaired by the losses incurred and
this knowledge, combined with the general sackneSs OF
goods both at homo and abroad, probably explains In
some measure the vague rumors prevailing Of ner.
camille difficulties in the home, foreign, and colonial
trades