, 1872-12-11

Total. ,ot


.s225,ooo
Now the most palpab1e evidence Of an illegtt-
mate condition is that the stock is literally scat
tered all over creation, the bulk of it being
held in foreign countries, where the holders are
not amenable to the double liability clause Of
new bank only about six months old should
escape the attention OF tho Bank Examiner IS,
to say the least, very strange The fact that the
payment Of the deposits Will require the capital
stock, represented By notes, to be n paid al IN, IN
mess, is disgrace to the National banking sys-
tenn.
As the Bank Examiner has had the EuporVis-
ion of the affairs Of the bank ever since the in
vestigation made by the Clearing House Com
mittee, the percentage Of cash and bills receiv-
able to deposits ought to be about the same now
as then. We are given to understand, however,
that the cash has leaked out. II so, the Bank
Examiner should be able to give q satisfactory
account of its disposal.
The report having been published in one Of
the city papers that Winslow went to Europe to
negotiate bonds for the Canada Southern Rail
road, we take the occasion to say that Winslow
in any manner whatever. The report probably
grew out Of the fact thet he had been en-
gagged to assist the construction for the Canada
Northern Railroad, from Quebec to Montreal, in
the negotiation Of 90, ,000o 900 Of bonds in Europe
to build that road. His services, however,
proved Of no avail, and his connection with the
Canada Northern VAS dissolved some months
ago.
TIE MILWAUKEE, l. ST. pAu1 RAILROAD.
On the 21st ult. this Company announced to
the New. York Stock Exchange that an additional
ISSUE Of common stock to the amount OF 81 l,570,-
600 would be made at the end Of thirty days, to
apply On extensions. This is an addition Of
more than one-eighth to tho common stock,
making the whole amount Of common 81, $685.
1876, and of all capital stock s24, 249, ,215. The
new extensions are that from Milwaukee to Chi
cago, about 80 miles, and from Wlnona to La
Crosse, 80 miles. But tho most recent acqnisi-
tions, and those for which this issue is intended,
arc the Sabula, Ackley & Dakota, from Sabula
westward to Marion, Town. S. miles, and Hast
ings & Dakota, from Hastings westward n
miles. For these, equipped es they are, the
Milwaukee &; St. Paul pays $4,000 in first mort
gage bonds and 100000 in common stock.
TIE TEA TRADE.
By tho circulars Of Messrs. Augustine Heard
& Co. under date Of Yakohama, Nov. 6, and
Messrs. Castle Bros. under date OF San Fran
cisco, Nov 80, We have summary Of the con
which shows general falling of in transactions
and g. tendency to lower prices. At Yokohama
transactions have been very Light, but the ab-
stinence OF buyers had not brought about any
material decline in prices yet. A. Foochow
willingt to accept lower prices, though buyers
showed no disposition to tako hold, and antici-
pated lower prices. At Annoy, prices for medi-
um grades we're easier. A. Shanghai, some
dealers anticipate material decline; others
reason that as the teamen have already aoli the
larger portion Of their purchases, they will be
inclined to hold the reminder Of their stock, for
some time at least, rather than deyiate much
from iormer rates; also, that but little dsposi-
: their purchases, which the Chinese are quick to
appreciate.
LOCAL srocE AND BOND MARKEr.
Messrs. Lunt, Preston d Kean quote aB fol-