New-York tribune., 1867-03-15
tnized. The failure of 0rray, Taft & Co has
ah lion +Lo dry l.aols

| tinized. The failure of 0rray, Taft g. Co. has
shaken confidence materially in the dry goods trade
where there are many weak spots which bya further
contraction of currency and credits WILL at no remote
period be brought moro fully to view. 1t is fact
patent to all prudent people that enormous house and
store rents extTavagant salaries, and free living
together with losses on stocks of goods and outside
specuatons have swept off large proportion of the
working capital of merchants. IL is this state of
things which prompts traders and spectators
throughout the country to clamOr against contraction
of the currency and return to natural prices. On
call money is had at 6d7 per cent, with less doing at
per cent on the best collaterals In commercial pa
per there is less activity and bills not firstcass sell
at high rates The funding process is in rapid opera
tion and at the next debt statement the plain legal
tenders are expected to show the whole reduction
allowed under the law.
Sterling bills are held with filmness some drawers
asking lO9 for 90 days; London, 60 days. 100 a1O9.
sight, alt9s Paris long, SIG. 05.l5 short, 53s
~ol23; Antwerp, 52Od517s Swiss, 20G5.17!: Ham p
Durg 36t0965; Amsterdam, All; Frankfort, 4l.0
4lS; Bremen, 20; Berlin, 72072!.
In Freights the engagements to Liverpool are 1900
bales Cotton at 5-l6G7-16d, and per steamer 100
bales do at 9-16Gsd
The business of the Spb-Treasury was: Receipts
for Customs, $5O 600; do. for Gold Notes si 600; ;
Total Receipts, $G56636 2i; Total Payments 81 $780,
0f4 "a; Balance, $110,u0,SG6 90.
The directors of the Morris and Essex Railroad
have declared dividend of - per cent free of Gov
emment tax out of the earnings, payable at their
office in Newark after the Goth inst. The dividend,
except for amounts less than $25 will be paid in stock
at par All dividends less in amount than SIS viii be
paid in cash. Scrip will be issued for fractional
parts of a share, which may be converted into stock
by paying the difference in cash. The certificates of
indebtedness issued last August in lieu of cash diyi
dend are also made payable in stock Mt par.
Express. stocks continue firm for the old companies
and 1T is rumored that the competition is not TO be
continued at the costly rates paid since the Merchants
Union was organized. A few weak holders of the
latter company have sold out but the stockholders as
whole retain the confidence of success with which
they started.
A case of interest to commission merchants was
Gently decided in Chicago The defendant was in
structed to sell for the plaintiff lot of wheat at
certain figure, sellers option ten days. plaintiff put
ting up margin. few days after the sale was
mado, wheat advanced almost enepgh TO swallow mp
the margin. The defendant called plaintiff for
more margin, which he refused to put up. The de-
fendant then filled in the short" to protect himself
at a loss to the plaintiff. Subsequently, and before
the option had expired, wheat suffered a material
gain. The defendant pleads custom. The Court
holds the plea is not good the evidence shows that
the custom of Filling in" at the running out
of margins" is universal among the commission mer-
chants of that city. Verdict for plaintiff
dispatch from San Francisco dated March II says
the Imperial Mining Company has declared diyi-
dend Of $l5 per share, and the Empire Company $40
per share for February.
The Pittsburgh, Fort Wayne aud Chicago Railway
Company earned in February
.s522s2 "A .SisOos6 "a Inc. S $50 80
From January to February %:
1861. s1Os2,94s 90 1866. oO9Cs GO Inc. 97o 40
The Marietta and Cincinnati road earned the first
week in March:
1867 .....s1o9ls 1880. sloO73 Increase. sss
The following is copy of a telegram sent by the
Pacific Mail Company to the Speaker of the Assem-
bly, this date:
OFFICE OF PACIFIC MAIL STEAMSHIP CO..
HEw.YoRK, March 49, 1851.
To the Speaker Of e AsScRJiy of Tie dte Of AeoIo'k,
The undcfsgncd Directors Of the Pacific Mail Steam.
ship Company, observing that resolution has been intro
duced info the Assembly, the preamble of which alleges
desire cprccate the stock Of tire company aud Tor
their private end desire thus publicly aud distinctly
cations and To declare them utterly without 1ouEdhuon
in fact and, far ~ they are aware wholly without
justification Of any sort
HOWARD PoTIER, LOUIS ncLiSR,
WILLIAM pESSi'rouN % EhANs'; ..S. :, s1inpY; G.,,
JAMES NJ. BROWN.
We have received the following
sroCEHoLDgRs ~ IHy onio ASD)
M:ssrsirr Il. H. Co tR ~ oVncE 30 o. WALi'r, {
Certificate holder. hereby informed that lie proposed plans fr
& hSye ben sloPa by f@,s o. o'" "''' '
EDWARD LEARNED, Chairman Certificate Hoder' NeetAg