, 1870-05-06
PURCHASES OF BpNDs
Thursday, May Especial funh>. 900, 900
Thursday May 13 (atnkinE fund. 1,000, 900
Thursday, May lg Especial funt} 200O,000
Thursday. May Is {slnklng fundl- 100000
&c 100000

4o4al.< Veuy9v<
The receipts Of gold during April were un'
usually 1arge, and shows that the value Of i'm
Forts las greatly increased. There il now
eu5, Zoo, ,o0u OF gold in the Treasury, OF which
s@:,3, Geo, ,6G0 il held ngainst. gold certificates,
tic remaining S8e, 200 being owned by the
government! It Is estimated that the amount
at least four millions advertised, win ovexbal-
aEce the receipts for customs during May By
9,0D0, GOO, reducing the gold balancs owned
by tho government on June to 373, ,Q00, 900.
The interest due July win bo over sa3, ,0O0, :
eco, and counting customs receipts for July rs
high as - ,000, ,000 per week, md gold, sales nt
81 1000. .00e per week, for june, it would
leaye the government with about $50, ,000, 900
en- July l. The Secretary, therefore, has it in
lis power to increase Ills gold Gales to s., 000,-
GEO Per week during June, July. and August,
il he @.nooses, and still leave largef balance
on : igust tlan he would have on July 1: II
there Is no decided revival Of exports Of gold
tho knowledge Of his ability to do this would
prevent any rise In its price.
Tho rlmor that Becret sales of gold were
Icing made by tho Treasury ated from
General Spinner selling 81 ,090. 600 OF gold in
te1est, due May i, on the bonds hold by him
for the sinking and special funds in the Treas
uIy, The sale was made on Saturday, and On
the first days OF this week the proceeds were
| invested In bonds for tho sinking fund.
Tie liberal purchases Of bonds BY tho Treas
usy during May, in accordance vi the sched-
ule given above are favorable to moro ALUM
dant money market, as the preponderance Of
bond purchases over gold sales will deplcte
the cn1roncy balance uf tho Treasury, and
put it in circulation Mt season when there Is
.past uso for it.
The election Of Directors Of the Lake Shore
Railroad, yesterday. IN Cleveland, il regarded
as triumph Of the Vanderbilt interest in the
erdeavor to securo control Of connection
with the Union Pacific, and, in some quarters,
it is thought, Indicates consolidation
of the Hudson River, New York CentEal,
Lake Shore, and Rock Ialanl- Tho Rock Island
Is new name On tho slate, but the run1or, for
some weeks past, has been that the Toledo j.
Wabash was to be included in the consolida-
ton, and the recent riso Of 9per cent in that
stock, nearly 2 per cent Of which took place
on the news Of tho result Of the election.
seems to give color 10 the rumor. Severed
enormous consultations Of railroad power
haro been brewing for tho last year OF two, and
the contending interests, fighting out their
battle IN Wall street, will ond by absorbing
nearly all the railroads north Of the latitude Of
ne mouth of the Ohio River into
1 s9Sn .o five sat s ssns0aa''2ns ID son "e e2
iii matters OF railroad policy, or proceed to
swallow each other up: It ia apparent that
the railroad interest Is the mort powerful Of
railway laws, they are.in as inchoate condi-
tion nB the banking laws OF the various States
we're ten or twelve years ago. It has been
pretty well demonstrated that railroad COM
panies can ca11y almost any scheme through
the Legislatures Of the States, and the neces-
tity for some national Law defining their rights
md duties Is common carriers, their ta1nhon
by States, and many other points, Is becoming
more apparent az the companies consolidate
and form themselves into great lines that bear
the same relation to the nation that the orsi-
nal companies bore to the States from which
they received their separate charters.
t.ADOtner case thought to Involve incidentally
the consttutfonalty OF the LeEaLTenler act IL to
Lc u gued at the next Term Of the Supreme Court.
1t Is that OF Knox against Lee, appta from thc
Supreme Court OF the State of Texas: a Eult for
The seizure and sale Of property under the sequcs
Irution act OF the tcbcE But the c1sc Involves
ttLer question:, too, and It is uncertain how far
The lega-tenGer. question will be regarded bJ the
cuurt rs essential 10 the decision OF it."
Business continues good, md there is
scarcely any department OF trade that now has
reason To complain. Money continues abun-
dant, and tho banke aro still unable to find
use for all their funds. Good paper is in de-
mand, and nost Of the banks would mako de-
mand loans On good roll&teral at per cent
Exchange WIS sold ut from 25c to Soc per
per 81 600 premium for sales between banks.
Rates at tho counter remain as before, bank
c,s buying at LILO premium aud selling at par.
EuffR10 grain bills arc taken at II of
Sales At the Stock Board to day we're:
10 shares Republic Insurance Company -..... 20