New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-27
THE MONEY MARKET.
SATURDAY. Dee. 25-P. NJ

SATURDAY. Dec. 25-P ii.
To-day has been observed as close holiday
in all departments Of business.
The gold market throughout the week has been steady
but without speculative interest The transactions have
been moderate ana the market has beeu sustained by
the purchases OF leading SPECTATORS their short
contracts ghe Government commenced the payment OF
tue January interest Friday and paid out H5762 to
holders OF coupon bonds The registered Interest viii be
paid on Tuesday.
The Government bond market has been strong under
leavy domestic demand, and considerable purchases
were made for foreign account
state bonds have been duh and neglected on border
state bonds and strong and active South Carolina
aud LOUISIANA per ceut which have been active de-
n1nd by foreign hoHses The holders of Tennessee bonds
have been endcavOring TO perfect plan TO protect
their property and viii Monday at the Office Of
Thomas Denny Company to hear the report of Com.
mttee who were appointed to draw upa for their
acceptance. The Committee will submit the following
plan, and desire fun attendance OF parties holding
bonds:
The authorities OF the State OF Tennessee shall appoint
Committee of seven, OF which we suggest that the Gov
ernOr, Treasurer, aud Secretary of State shall be mem
sentine 6ond6oders and these shall elect tine seventh
This Commission shall receive from the State transfer
81 all the Indebtedness Of all the various railroads ex
cept two TO be hereafter named To the state 20 DO held
N trust for the following purposes;
money from all solvent roads the amount due the state
as interest sinking fund and prineipa The insoyent
the amount bid for the road equal the
due the state the Commission shall baye power to pur
chase shall be their duty purchase said road
any amount not exceeding the amount due the State
whenever bondholders shall surrender their bonds
20 the Commission, TO be held property OF the
state, the bonds and coupons shall be duly Cancelled
aud they shall be entitled TO receive from the Commits
sion receipt and certificate stating that they have
rendered SAID bonds and that they have AN undivided
pro rata interest in the property held by the commission
the ratio that the bonds assented by them bear TO the
amount OF bonds required to be assened TO acquire the
property And until the amount said bonds assented
To said commission and purchased by said commission
state the commission shall appropriate such money
they shall receive from interest, sinking fund and prnc
pal TO purchase Tennessee State bonds the market
price, until the bonds purchased and assented to the
, shall equal the SUM due the state at
whole property held by the commission. Any road de
utiug and purchased by the commission may be resod
such at least fve Of the said commissioners
and majority Of asserting bOndhoders may TO-
the commission and no used by them in the pur
chase OF bonds in tho same manner as money received
from interest, sinking fund. and principal Any default
iag road purchased ana resold by the commissioners
IsI| granted II Dy the Legislature, ana the purchaser
sl9 have the right 20 alter amend Its corporate
required 10 make AZ certificate stating the name assmed
shall file the in the Office OF the Secretary Of State.
When the amount Of aseted bonds and purchased bonds
thereafter shall be divided with the holders OF certificates
Of assented bonds In purchasing bonds the certificates
" asserted bonds shall be good delivery to the commits
Railway bonds have been active Investment demand,
and large amounts Of fret mortgage bonds offered
subscription bonds OF tile Western Pacific, Midland,
and Kansas Pacific roads have sold freely Central
Pacific per strong under a heavy foreign
demand Union Pacific per cents were higher on the
that the Company would pay the January
coupons in New-York instead Of Boston, first
advertised.
Railway shares were dun and steady as is usual during
the holiday season. but prices well maintained.
The heavy storm early In the week caused decrease in
the traffic Of the roads, and business almost entirely
suspended for two days by the heavy fall Of snow.
The Raiiieay Journal says:
At the beginning Of 1863 there were ~ o2 miles Of rail-
road in operation in the United States and at the present
time there At least 10000 miles finished,
advanced Of construction In every and Ter
work laying the foundations railroads.
of local and others OF national Importance The number
OF these enterprises underway is not far from 500
EHeh State In the Union has. an average seven
New-Hainpshire, Vermont Massachnsetts 8 Rhode
Island s; Connecticut, g NewYork, II; AewJersey, 2;
gula he Chesapeake and Ohio. and probably others
OhiO. Indiana Il; Illinois, u; huchigaD 10; Wiseon-
Kansas Arkansas 8; Texas, A. Louisiana 4; AssiS-
sippl g. and Alabama. c.
The Directors Of the Panama Railroad have declared
the usual quarterly dividend Of per cent payable on
aud after Jan. 5.
The following shows the exports exclusive OF spece)
from the port of NewYork ports for the week
ending Dec a. and since the beginning Of the year;
E Es.a:.. s;; i:y.i. f f:is5, tf s;:s ss
s,:. Is s'''S0ti3 e'377i is5,
Tho following shows the imports foreign dry goods
aud general merchandise at the port of NewYork for
lhe week ending Dec 49, and since the beginning Of the
year: ~ ~ .o
s: {: s $:.. :s: ;.s5 ' l5:;s
r, TOO; s.: C; :s z g s3s5is i sss9
0.,, sS7- 19o oss an ~ "a avs SIS a7o