New-York tribune., 1867-07-27

incorporated companies for sue purposes This sys-
TEN has recently been inaugurated in this country
and the mode in which it operates is as follows;
deposit IS made with the company guaranteeing by
the company which issues its bonds, OF such an
amount as at low rate of interest, compounded
annually, will in the given number of years that the
bond has to run to maturity amount 10 the face OF
the bond, being the amount guaranteed. 1t
will be seen that this process Is sim
ply a deposit on interest for accumulation,
that instead Of paying the interest upon the
deposit yeafiy to depQsiting company the company
guaranteeing places the interest yearly TO the credit
of the deposit and agrees to pay u 10 the seVera
holders of the bonds when they become due The
special feature of this arrangement is that 1t Is ad
vantaqeous to all the parties interested The guar
autor is secured by the original deposit and IS indem-
nifed for his trouble by the difference between the
low rate of interest which agrees to pay and the
highest rate at which he is able to loan out the de-
posit The corporation whose bonds thus guaran-
eed is able in consequence to negotiate their bonds
on much more favorable terms, while the purchaser
Of the bonds has the additional security of respon
sible guarantee.
The meeting of tho Trunk Lines broke up to-
day without coming to any arrangements as to rates
One road tthe Ere) retired from the compact and at
present there is no prospect of any harmonious
ton.
The receipts of the Western Union Railroad Com
pany for the week ending July 81, were;
1867. .s2,6s2 20 S2O9S4 46 Dec....s3o1 &c
The EreaiRg Post says:
From the pressure OF other business. Mr. Henry Keep
one the abest and most successful railroad IN
Walst, resigned yesterday the Presidency OF the New
York Central Railroad, and IS succeeded by Gen H. H.
Baxter, whose eminent qualifications for the Ohce are
well known. The teegraphc advices from Albany, late
IN the afternoon, 10 the effect that the regular half
yearly dividend OF three per cent had been declared and
that Mr. Richard BlatchfOrd 0f the old drecon) had
been elected 70 fill the vacancy OccasiOned by the resg
nation OF Mr.. Keep Mr. BlachfOrd the Vce-Presi-
dent under the administration of the late Dean Rich
mOnd, and left the direction in common with other
friends of Mr.. Vanderbilt. last December.
The Chicago Tribune of Wednesday, says:
There is quite marked change IN the condition Of the
money market The balance OF trade has turned m favor
OF the West and within the week may look Tor the
commencement of a steady flow Of currency from the
East The demand for currency was quite active to-day
and quarters IL reported rather close lnthe
general way business quite duh at the banks Ihe
demand for discounts Is moderate. though on larger
scale than at any time last week. and the counter demand
for exchange Is light
round lots with difficulty placed between banks at
5Oa25c discount-mosty the lower figure The counter
rates are irregular at Clio discount buying. and 2o0
l-IO premium selling Buffalo and Osweg0 Dns are taken
at of
The Cincinnati Gazette of Wednesday remarks:
The money market has worked into easy condition
for good paper offerings of which only moderate
there OF other classes OF names ana Tor
are about stationary Rates OF interest on hrstcass
names per cent and 10 70 10 for other grades
Exchange ruled steady 80 dis 10 par buying and par
TO so prem selling, with leaning TO the outside bgures