The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1869-02-17
FINANCE AND TRADE
Financial and Commercial Items.

Financial and Commercial Items
1t is proposed by an association of
gentlemen of Boston, to build a tele-
graph line between Washington and
! New Orleans.
The Prussian Government proposes
! to abolish the patent system. The sys-
tenn has not been productive of good re-
: suits in Germany, neither stimulating
invention nor proving advantageous to
4 the public.
: Albert Brisbane, the Fourierite, has
bought large tract of land in Kansas
for a colony of Frenchmen, who will
, cultivate the land on the cooperative
principle, and will also manufacture silk
goods.
t The Board of Public Works of Vir-
ginia last week sign ed the deed of sale,
for the desert Tract" body of 1854
acres of land, in Princess Anne, opposite
Cape Henry. The land was bought by
{ Messrs. John NJ Frazier and Thos. NJ.
Hall, of Baltimore, for $4,000.
We learned yesterday that venera-
BILE citizen of this county had reported
as his income for the past year the sum
ofS95,O 900. A large part of the same was
derived from three per. cent. English
consols, which gives some vague idea OF
the wealth of this gentleman, who is
most probably the richest man in Vir-
ginia.-Lyachburg Republican.
The Cheyenne Leader says company
has been organized there to build a
railway and telegraph line northward
and along the base of the mountains to
the Yellowstone River. 1t is called the
CHEYENNE and Iron Mountain Railroad
b. and Telegraph Company. An iron man
= ufacturing company has also been organ
= lied to work Wyoming and Colorado
g iron ores.
The New York Bank statement is look
. ed upon as unfavorable, and had slight
o effect upon the stock market. The de-
crease in specie arises from the exports
and payments into the Sub treasury on
account of customs. The loss in legal
tenders is due to shipments South and
: the exchange with the Sub-treasury for
. per cent certificates. The decrease IN
, deposits comes from the decrease in
loans, specie and legal tenders.
r The New York Times editsrially says
the "BIlls" and Bears" of tho gold
room are having fiercer fight than
since 1866. There is known. short
f interest of forty millions, and it is sur
missed the aggregate must be close to
double that amount, while free mention
4 is made in the gold room of four bank
t ers who are daily borrowers of twelve
4 millions in gold. A powerful clique, on
s the other hand, has been buying heavi-
i ", and it is nip and tuck" between
= Bull" and "Bear" just at present, and
whichever goes under will be pretty
D badly submerged.
= = The Richmond State Journal says: ave
understand General Bradley L. Johnson
= yesterday and to-day obtained three
S hundred DEGREES in the United States
o Circuit Court against the debtors of the
o old State Banks, and as the stay law of
/ this State does not apply to these cases
or prevent the issuing of executions of
these case DEGREES, it is supposed that
much property will change hands by
marShal's sales in these cases, some of
. which involve large amounts"
I Senator Fessenden, Of Maine, is in
( favor of authorizing the Secretary of the
Treasury to issse bonds for greenbacks.
4 This, of course, will be capital thing
}, for the tax -payers, the bonds bearing
interest at six per cent. in gold, while
the greenbacks bear no interest, Ex-
changing note without interest for
u o2e,with heavy rate of interest, illus.
trates the financial capacity of the old
Q Secretary of the Treasury. We can
hardly believe, however, that he would
$ manage his private business upon that
. principle.
: Even the New York Tribune has dis.
= covered that the tendency of capital to
, investments in Government bonds, and
the disposition of capitalists to engage
| in insurance and other reproductive
=, occupations in preference to manufac.
: turing and other ordinary business enter
prises, operates to the prejudice of legit-
innate industry. The high rate of in
= terest realized by investors in Govern
? ment bonds, is not only an oppressive
4 tax upon labor; but prevents capitalists
3 from undertaking business that will
/ give laborers profitable employment.
: The Government and the bondholders
/ should take this matter into considera-
tien in time
In his late speech on the railroad sub
sides, Mr.. Washburne showed that 1885,,
100000 acres have been given away in
this form. The Commissioner OF the
; Land Office has estimated the amount
as exceeding, in the aggregate, in that
period, the entire area of the six New
England States added to the surface of
q New York, New Jersey, PENNSYLVANIA,
r Ohio, Delaware, MARYLAND and
Virginia. The grants of the Pacific
. Railway lines alone were, accor-
. ding tosthe same authority, within
= about one-fourth of being twice the
5 united area ofEnglaud, Scotland Wales.
Ireland, Guernsey, Jersey, the Isle
of Man, and the islands of the British
seas and within less than tenth of be.
ngequal to the French empire proper"
E ~. Louis Market