, 1870-01-20
every collar they pur tho IT. can aee how Wall

every dollar they puE THO It, can aee how Wal
s.1eet nantRy meot h8@ rts1"e7.
1heae.WaN street apec 1la.nrs are not, ID eeu
els1 capitalists who ouild roads: they ouJ tho vi
af'er ine n ady bave been bu1'-'o great e1
tent by general subtcupucn IA tOo West The
psoceea Is nup'e etough, sId has beeo repeated
In the cAses Of BONE OF the ltlpc,ph ronds Of Inc
Northwest. Al 1ooa N tee road tsln a fslr snV
foE completion BY the orfgtf al com1aIJ, W4u
a1Ieet p-f6n7des The company 10 pat lts STOCK on
tcae psiker Ii q short line bear Clique OF the
heaviest operators Is formed. the STOCK Is sod
doNn To 1othirg nud bocgbt In BY the wal
Street men tor q eong, and, the os1gi-
ral erbac7tbc1s lose nil the monsy faeJ
Invested. Then the bear Clique Is dissolved,
tue stock IL ran mp BY Speculation 10 above pAs.
s.d sitter wr:erng It 100 per cent or 70, tae hh:-
pe13 apd ttavetlu puol1c Along the ttne Of the
road aTe taxed to pay latse dlsidands On the
Na.ered Eocka A tyus htstors OF the railroads of
tho Ncttb veal would show TINT IN the case OF
every enc Of then afge proportion OF the stock
waa subscribed bJ citizens aloog tho uns
o! tue ro.d., and ,hat IN alnost an
cases they have lost the money they
tuvested by jags such process ~ above
lrd;cxled, thai thu roads A1e now owned almost
txcIcslye.y By Wal1 stfe:t men, AID that IN add
rlon 10 tbeir loss In lhc original Stock the citizens
hte cow Iraytpg high tarina 10 put oouale pxadt
into the pockets OK the Now York speculatorA
The West cae get alcDg good desl better with
ocr the 'tnld Of this class OF "Eastern capital
!.tt." On the other hand there Ia enothef csas OF
ca,ttallsts, everywhere, who would be good deal
ose 1tke1y to invest In roa6s bul1t In the State II
1eey Erew there was some provision In the consa-
tutou to prevent this stock being made thu shut
1lesock OF tho Wall ttreer gAmnlesA
Some Of the most prominent railroad officials Ia
this city, who tave become dlrgusted with the
cbuses ruat a1e practized upon the people .. Neg
York Directors IN toe methods noove Ment1oned,
sfe kno IN to he Id fAvor Of a law requiring that:
u any Railroad the greater portion OF which Ia Ia
the State, at least two -lhltds Of the Duecio1a
should be ciuzeLs Of the State. Even where
tnere 10 DO corrupt management. non resident
Dlrtcto1s have cot the requisite Information for
1Hxragtng the reads 10 the best advantage Of
tho stocknoldcrr. nrd at the aame
Tine with lusuce to the citizens
G! the sate. Whether the remedy suggested BY
the fet,ton would be complete Que or not, u
1La.te1 liz the consideration Of rre State Constn-
f:on- TIE petition vii At least bring the subject
before them, ard with this view every business
L an ia the State ought to sign It.
In the local E.oncy market tho gupplJ OF loana-
lie iur1s ut the COMMAND Of the panEs Ii still re-
lorrd IS raner small, but It Ia fully e1oA 70 tie
light demand TOT accommodation. The Volume Of
fu.iL esa In Euss tY1nche. Of trade continues &hf
IL d these WHO have ready money, OF tno credit 10
get It WILD, seem TO DC ho!d4pg on IN donbt aoont
toe tendency Of prces. Same incrtsse OF &C.
t,rsty in the cattle trade Is noticeable, and zone
cateks fGr h-avJ amounts TO apply on purchases
cf cattle were pald to-day, but this seems the
cnitt exception TO tie general rule OF duloes..
EteyytodJ feem1 to think that wheat at G511<
c:lts psr bnshel in gold "a at present, Is too loH
10 remain at that figure. hut the tncfeastng cas-
lees OF money does ros develop any speculation
III that slne yet. md, altogether. nusiness Ia dali
and money IA ealy.
TheIe is scarcely any coed pager being offered
n the open mstket now and rates for money there
nfe nomlLal at about ~ per cent per month.
Exchange continues nrm at SOC per 81 900 for
IalCB between btn1E. At the counter, bankers
.cii at LILO premium and buy at lilo discount.
Sales at the Stock Board to-day, were: