The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-01-02
FINANCIAL AND COMMERCIAL,


Erie 70 calls on their lady friends, leaving their
offices deserted, although the weather was decidedly
against them in their sphere OF operations.
We repeat the quotations for the leading speculative
stocks at the close OF business Tuesday, namely
New York Central, 1T ll71S; Erie, 72h TzA Read
ing 911z 90; Michigan Southern, 84h san; Cieve-
land and Pittsburg, s6s4 ST. Rock Island 9s4 o3;
Fort Wayne 974 97i1; Northwestern preferred, 7oh
10Y; Pacific Mail lily lll3; Ohio and Mississippi
certificates, 2sT 90
For government securities, the market for which was
Arm, the quotations were as Acknowledgements,
1881, 1885, 1855; coupon, 1881, 1923 Il2K;
5.2os, registered 1862, los q 1O514 5-2o's coupon
1862, 1881 1857; do, 1854, lo5k 1855;
do. 1885, 1861 LOG; do, 1885, January and July
1857 . 1885; do, 1867, 1855 l0S&; lo4Os
registered, 1919 1917: lo4os coupon, 1917 lO2;
June 1905, lO4x lo4,l; July do, lo4ss 1o4A;
May compounds, 1885, l171s l17S; August do. 1leA
a1ls,!; September do, 1le 1lex October do, ll5x
all6.
Gold was steady at 133H.
Mr.. L. G. spaulding, Of Buffalo, has recently written
letter to Senator Morgan crtcsing Senator shermans
bill for funding the national debt and for the conversion
OF the notes Of the United States into bonds wherein he
takes ground in favor Of the principal Of the nvetweny
loan being payable in COIN He says that while the
bonds being advertised for sale many persons who
DESTROYS Of subscribing to the loan wanted to know
authorativey whether tho principal was payable In coin
as we'll the interest," and that In order to satisfy people
Fisk Hatch. at the very time they were negotiating
large amounts OF this loan, addressed letter to the
Secretary OF tho Treasury the Sd Of August 1868 and
received from him official reply, signed by the AS
sistan Secretary ofthe Treasury, which Immediately
published as follows
We are receiving numerous inquiries as TO whether
the United states hvetwenty bonds are Reasonable in
Va ova latin from, ha Troa Ia
parment most satisfactorily answering this question as
It once before answered by Mr.. Chasel copy OF
OF this loan and It's wide distribution among the people
renders the subject one Of universal public interest and
importance. FISK HATCH Bankera
TREASURY DEPARTMENT,
WASHINGTON, D. c., August s, 1868.
GESTLEMEN-Your letter OF the Sd inst. relative
to the Of SIX Per s Ssn' nS s.o
The following is the decision Of the Secretary OF the
Treasury in regard TO the redemption Of the public
deot:-Al coupon and registered bonds forming part
Of the permanent loan of the United States will BIO
deemed In gold The ive-twenty sixes being redoema-
Ave years belong to the permanent loan and so also
the twenty year skies Of July H. 1861 into which the
tions and forming part Of the temporary loan
win be paid at maturity in United States notes, unless
before such maturity payment m specie shall have been
notes form part Of the temporary oan with the prv
lege Of conversion into twenty year SKIES in sums not
holders prefer payment 70 conversion 10 unned States
notes. GEORGE HARRINGTON,
Acting Secretary of the Treasury
To Messrs. FISK HATCH, Bankers New York.
He also quotes letter to tho Same effect from Mr..
McCuoch; but as individual opinions OF very little
importance In this connection, and furthermore, Sem
ator Shermans bill ID certain Of the defeat deserves
It is unnecessary to borrow trouble by discussing this
question. Even supposng fve-twentes to be ultimately
rsdeemable in legal tender notes thoy good invest
present prices considering that they bear six
per cent interest in gold for at tho worst under cir
cumstances they would be worth par in currency after
dcductng the accumulated interest
Boston journal publishes the following respecting
interest and dividends payable in that city in January
The Of dividends payable in Boston in January
is larger than In any previous six months notwith
standing the reduction OF nearly 81 900 600 in manu-
featuring dividends Tho deficiency is than made
menis by government and the city OF Boston and the
unusual number Of miscellaneous companies. The total
reduced to currency would DO So, 149, 1871
The railroad dividends arc precisely the same as the
| previous sx montns-qui.e an unusual ieature-and
thoy pay well on the average ranging from three to five
per cent The Boston and Worcester and Western roads
have consolidated, and hereafter will be known
/ the Boston and Albany Railroad Company The stock
holders in the Worcester will receive extra dividend
Of $40 per share February In final settlement of the
union
| Manufacturing dividends make o poor show, and
though reduced In Jnly last still farther
shrinkage has been inevitable this time. This il
| OF the periodical lean periods of manufacturing and
those Companies which were 90 lavish in their paw.
ments in the remarkably prosperous times OF few
wears past that n moderate then would
have prevented many OF the blanks at this Time The
changes for the ak months are-Chicopee 10 10 per
cent? Cocheco, $50 TO $40 per share Douglas Axe, TO
per cent Hill MIN, IL TO g. Jackson, 70 3. lancas
ter % 10; Langdon, 20 70 10; Manchester Print to
| o: Merrmac, 10 to IN; Nashua, to 3; Naumkeag,
to s. Pacific IL to and Washington, to per
The following have passed wce:-Bates Dwight Great
Falls Hamilton Cotton and salmon Falls. And these
| pay the same last time :-Androscoggin Atlantic,
Appleton, Contocook, Franklin Lowell Bleachey Mid
dlesex Newmarket, salisbury and Stark Mills.
The amount Of interest be paid In gold at the United
States SubTreasury in Boston. January l. will be fully
81, 500 000beng materially Increased by the large
issue OF July (1S65-lS6T hve-twenty bonds The pay
mens win be on the following classes OF securities
per cent bonds due December 81, 1867 1865 and 1881
oregan loan skies OF 1881 i've cent bonds Of
ISL and 1874 and The issue Of July ls65ls6O
twente The principal OF the skies OF 1867 will DO due
s 55 COO ncres, IN Currency will also be duo
January Is 900 sixes Of 1895, issued to the
several Pacific railroads. In addition TO TIE 900 600
gold pay ments by government The State OF Massachusetts,
will disburse sl57175; city OF Boston, Ss24 sI5 city of
Cambridge, 3,i25 making total Of s5,4s5i1s or, re-
duced to currency s73l3,567, with gold at 1885, adding
nearly two millions TO the foosngs as given.
A Burlington W journal OF the 9th uit. says
The Farbersi and Mechanics Bank OF this city has
ceased TO be- Tho directors held their last meeting
Wednesday last, and the property and effects OF the
WAS declared TO the stockholders OF 81 20 share, or
twenty-five per cent aud fraction. One hundred and
five per cent having been previously divided, this re-
rurps 10 the their entire capital and sur
plus Of a little over twenty seven per cent
The state OF Virginia will pay the interest upon all
bonds issued before the war TO and including those
OF January 1881, followsTwo per cent in cash and
one per cent In scrip and this only al Richmond No
provision has been for the interest bonds ssued
since that date.
The following the report Of the Treasurer or Penu-
syyana OF the revenue and sxpendturegof that State
for the year 1901
REVENUE
Lands ......................:. SIT 500
Auction commissions. ..................... 2l,626
Auction duos. Is, 925
Tax on bank dividends. ACKNOWLEDGEMENTS. 1913
Tar on corporation stocks. 200 024
Tax on real and personal estate. ........ 800 $50
Tax on loans. ACKNOWLEDGEMENTS. 2s01
TAX on earnings or income. .......... 242, l24
Tax OH gross receipts ................... 342,332
Tax on enrolment OF laws. ................ rs 100
Tax on tonnage...... .............,...... 336,3i7
Tax coal, per act Of March ~, 1867. lo1 $50