New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-08-21
into harmony with the fundamental hypothesis remain,

RATES OF INTEREST
Mt L. b. Elliott OF Wash ngtOn read carefully pre-
pared paper the RATES OF Interest reased TO In
vesors In the Securities Of the United States After
stating principles upon which the calculations were
based he proceeded give tho results OF his inyestga
tons Tn tho early part OF the present century the credit
of the United States Government was comparatively low
is per cent and per cent securities being placed upon
the market upon terms suoh 10 fix the rates realized
to investors general ut from 1910 TO cent one
OF the loans however, being placed upon the Market III
the year 1872 at low realized rate as per CENT
while the rate realized on another loan "as ih
the year 1915, as high as 0 40 per cent
The difficulties attendant upon tho war OF 1914 hau a
important influence in disturbing tho credit OF the Gov
eminent and producing these comparatively hign ra'cS
OF interest In 1921, the credit OF the Governmeht "
far improved that 1t able to place per ooh' oa
on market terms such ss to indicate tho re@oo
rate OF interest be about II AN per cent In inc yours
1854 and 1885, tho per cent securities OF the
sold In the open market in NewYork at such premiums
"a to show the rate OF interest realized nearly Identical
with tho aboyei22 and l24 per cent The market price
OF the per cent securities OF the Government IN the
same years indicated still lower rate OF reabeu 'oi
est-3.29 and 327 per cent respectively
In 1859 the per cent securities OF the toVernne'
sold in open market prices indicating realized ra'o
of interest Of four and Onehalf 59 per cent anu s
per cent securities at prices realizing only about three
and one half Al per cent interest TO the investors In
1860 the prices Of the per cent securities indcateda
rate of interest realized Of about 500 per cent The rates
of interest indicate that the borrowing power OF the GOV
ernmont during the periods Of ranquilty-that H. inc
normal borrowing power Of the Government varies from
three and onefourth ON per cent to four and oneha
(69,, or five 6.O2) per cent.
Passing from this period OF comparative political quiet
10 the year beginning the lae civil war; We ma tno
market prices of tho per cent securities to have been
during the first four months Of 1851 such as to Imply
rate OF interest realized to investors somewhat In excess
Of s1D per cent. Later in the same year per cent
securities Of the Government known as the 2Oear secu
rites of ls6l-s sold indicating rates to investors
varying from 759 65i per cent Passing by the sue
ceeding years Of active hostities, concerning
pete investigation has not been made in the hrst three
months of 1869 the prices OF the per cent SECURITIES Vi
the Government known the TenFortes of 1904 real
lied about t per centan average OF GO in January OBS
in February, and ga In March of that year. Al present
the prices indicate from 4o1 to COS per cent to the in
weston. the lower rate being upon the Pacific Railroad
securities, and those Of CT and '65 the Cos
Prof. s. D.. Timan OF New-York read paper on
Chemical Equyalency, in which he undertook 10 ac-
count for the variability in the aomtcity OF the same
chemical element Atoms Of different weights densities
and powers OF decomposition are known TO have inc
same equivalence We must therefore look In other
directions TO find the source of this function With the
present light upon this subject may perhaps be ust
fed in the inference that the socaed atOmxing power
is the resultant OF least two forcesattaction and re-
pulsion. Prof Tlman took this ground-that the cond
ton Of the element eectroposye or an electro
negative materially affects the combining function OF
such element in a given molecue. He illustrated his
subject BY showing that certain strong eectronegatves
became electro pOsitives combining with oxygen and
in such their equivalence is variable lie stated
that many practical chemists reject the doctrine OF
atomiticy, variability being the stumblng-bock Inc
doctrine he proposed would explain many chemical phe
nompna which without it iucXplicabe.
Prof Barker and Prof. Tillman had controversy on
the use Of chemical symbols The question had reference
TO the use Of dots (perods and semicoon as Indicative
of the number Of atoms OF the known substances The
point issue the arrangement OF the atoms In
molecue; whether-granting our knowledge OF such ar
rangements which few chemists will deny-this arrange
should be indicated by the symbols. There Is no
difficulty about indicating the number OF atoms but their
arrangement is different in case OF isomerism Prof
Barker assented to test case-to write down the SYM
bos according to his system OF anhydrous chorc acid
but il was found upon further discussion that the views
Of those gentlemen did not materially differ upon the
case in question Prof Barker said that tho chief dill
Guilty with all systems OF symbols was with the
printer who could be made TO put marks, dots
and points exactly where they ought to Prof Barker
Illustrated his method OF symbols by writing the sub
stance usually written NJ" O3 nitrous oXlde) as ON
-O-N=O. Prof Wander Weyde objected 20 methods
which undertook to represent the positions or atoms by
presenting them paper Prof Barker admitted that
but only in connection.
SPECTRUM ANALYSIS.
This succeeded by paper from Prof Wander
weyde describing discovery of his own tending to es-
tablsh certain equivalents to the Franhofer lines in
spectrum OF the heated rays alone. After reviewing the
successive discoveries in regard to the heated rays of the
solar spectrum from those Of Hersche Ia 1900 10 the
present day. Dr. Wander Weyde pointed out that the
color spectrum consists of three kinds OF rays calorc
luminous. and chemical of which the first and last are
nvisible that the dark lines discovered by Franhofer
In the luminous portion and on which the modern spec
troscope is founded, have also been discovered In
the invisible chemical portion lines without
chemical action and that therefore 1t Is probable
prori that there will be also lines without heat In the
caore portion To find those lines by Of the APP
pcaton OF the thermometer to the specroscope, spe-
cia spectoscopo had to be constructed Of Brazilian peb
BILE glass absorbs too much heat BY means Of such
an instrument and the thermoelectrc pile OF MelOn
the Doctor had discovered several lines in the dark hot
space beyond the red lines which could only be disn
ished by temperature lower than the adjacent parts
These lines lie has called A., b., c., etc.,
and he found that the line ID; lying at
the same distance from the Fraiienhofer line A,
as A is from the sodium line ID. ia very broad band
covering considerable space. Tho difficulties yet to be
overcome are the double reracton OF tho quartz prsms
IN which tho Doctor hoped TO succeed by the polarization
OF light and 20 ascertain the relative temperature " the
different portions and tho notifications IN the specrum
and lines by tho employment OF difresent media The
main points were illustrated by fine colored diagrams and
excited lively interest among the members "a was evh
dent from the animated discussion following concerning
the importance of those discoveries
In this discussion stated by Prof. Wander Weyde
that there appeared to be a difficulty in tho unlike
characteristics of heat light and actinie power which
made 1t difficult to compare them lie mentnned that
IN the interference spectrum the highest pone Of HMM
osity always in the middle OF the spectrum Prot
Tlman insisted that the three divisions, heat Light and
acnism are merely differences Of lengths, and OBJ
eced to diagrams which represented them otherwise