The New York herald., 1872-05-24
Stocks Generally Dull, but Active and Excited
Movements in the FayOrtes.
Governments Firm, Southern Securities
Steady, Railway Mortgages Quiet
Money Easy and Foreign Ex-
change Unchanged.
Sale of 100000 Govern
ment Gold.
WALL STREET.


The grain market shows continued dulness In
wheat there was nothing doing of moment, holders
offspring asking higher prices than buyers were
willing to pay. Winter wheat is still dull and
offering freely. Flour continues heavy, and to make
sales concession must be made. Cotton is dull.
GOLD Han.
Gold touched 11aL to-day to which figure 1t was
probably helped by the large bids at the Sub-Treas
ury, which amounted in the aggregate to over
$5,0OO,0O0, Notwithstanding which the Secretary
sold only $2,ooo,ooO. The specie shipments to-day
amounted to S1,2l4,0oo, which makes the total Of
this week S2,372,000 The engagements for Satur-
day are reported at more than one and one-half
millions 1t must be admitted, in addition that we
are
EXPORTING GREAT MANY or OUR PEOPLE.
Fortunately they are not emigrants now, although
they may have belonged to that condition earlier.
The principal tourist class this year seems to
belong to what in France would be called the 6Or-
geotSte orin Holland burghers, otherwise In America
the comfortable shopkeepers. They are largely
Irish, who have made money here by industry and
perseverance and are taking their wives and
daughters home, as they persist in calling 1t, to
see the original cabin where they learned their
reading and writing. These men are among onr
best citizens, and are worth more, in pecuniary
sense, than the whole Washington Treaty. II they
continue to come forward our indirect claims
VIII uc curly pdlu WltLOuL dFDllTdtlOu. lie ASSlSt-
ant Treasurer paid out to-day s5S7oOO account Of
interest and $5O2 900 in redemption Of Qve-twenty
bonds. The carrying rate to-day was two to four
per cent. The operations of the Gold Exchange
Bank to-day were as follows:-Gold balances
$1,2oS,74 currency balances, s1,49l, 1884, gross
clearances, $32, 2,1360Oo
STOCKS LOWER.
The continued selling movement in Pacific Mall
resulting from the closing of the transfer books
with belief that Erie was sale in this market in
consequence Of the higher price in London,
gave weakening disposition to the gen.
eral market. There Is very little doubt
that the present management in Pa
cifo Mail, having secured the transfers upon
which to vote, are now selling. The stock Is pro-
badly worth more now in its negotiable power than
1t will be for long time, and If the experience of
last year In the blockade Of the Union Pacific Rail
road Is to be repeated there will be ample profit
upon purchases made In tho interval. The writer
has been assured upon good authority
that the Union Pacific Railroad will
take such measures this spring as to guard
against repetition OF last years difficulties.
1t will be hard to convince shippers Of this, how
ever, hence it Is almost certain the railroad will
lose great deal Of special freight wanting rapid
transportation. With the favor the Pacific Mail
will thus gain the figure of the stock transcends
ordinary calculation, the late advance being COM
pared with the prospective one.
THE ATLANTIC AND GREAT WESTERN
Is furnishing some matter Of interest lately. late
number OF the Rai,,oay Necs said to be in the inter-
est OF James McHenry, assails certain figures pub
llshed here last month Tho Ne,rs thinks the
HERALD is usually inaccurate-an assertion which
only proves that the Ns,os is not constant reader
of the HERALD In order to help clear under
. standing of this subject we reproduce the figures
with commentary as originally published:-
THE ATLANTIC AND GREAT WESTERN.
A short time since application was made TO the
New York Stock Exchange to have the securities Of
the Atlantic and Great Western road placed upon
the regular list The matter was referred to the
Committee on Securities, and after u thorough in
vestigaton this committee has to place the
securities on the call. Their report was to have
been today but owing to the the illness ss
man, such presentation was postponed to next
Wednesday. In the meantime, the report, having
been In part printed, leaked out and appears In
summary In an evening paper as follows. Referring
to the property Of the Atlantic and Great Western
the committee offer the following interesting sta
tistical informaton-
Miles.
Length ofmaln line from Salamanca, n T. to
Dayton, ONO Observation-Disclosures. 1888
Franklin brancn. OBSERVATION-DISCLOSURES. 32
Hubbard. IA
Leases~Cleveiand and Mahonlng .......... 81
Total number of miles. es....................... 507
In addition to the above the company own an
interest In the lease OF the Cincinnati Hamilton
First mortgage seven per cent bonds,
dated December 10, 1871. Mature jan
uary l, 1902 Principal and interest pay
able In gold In London. Interest paya-
bic January and July l, in London. sl8,ooo,ooo
Second mortgage seven per cent bonds,
dated December 16, 1871. Mature March
/, 1902 Principal and interest payable
In gold In London. Interest payable
March and September, In London. S12, ,0co, eco
Third mortgage seven per cent bonds,
dated December 16, 1871. Mature May1,
1902. Principal and interest payable In
pOd in London. Interest PAYABLE (wbcn
earned) May ! and November ], In Lon
don, but no interest to be paid unless
earned above all expenses ana adul-
uons 10 ROAD ]''oo''ooo
Total issue OF bonds. sos, ,ooo,o 900
Capital stock, common and preferred, TO
be Issued to creditors Of the old COM
puhy.... 0ViooV,ooV
Total capital. :l09 O00, 600
Receipts Tor october 1871. ........... 3gT.q3i u
Receipts for November 1871. .......,... $40 20
Receipts for December, 1871. 1....,..... 357.I02 81
OF the first mortgage bonds s950O 900 are held by
the company to redeem outstanding first mortragc
bonds on the Ohio division and the outstanding
STOCK 0l u nhe M o % and
$1,000, 900 to the creditors Of tho old company Or
the second mortgage bonds sS,oo0,oo0 are issued to
creditors of the old company and the remainder are
These are interesting facts, but, in view of the
present struggle to obtain a controlling influence
at the next election, deserve careful examination
The adverse report is based upon the assumption
that the road Is overburdened, beyond the power
of redemption, with liabilities; and so. upon
the figures submitted, 1t appears. Taxing all
things Into consideration, the Atlantic and Great
Western appears TO have been costly experiment
to the nomadlc English capitalists who projected
tor their clients
This was the best understanding of the matter
that could be learned at that date but later it ap-
Apears something more has been done which places
the Atlantic and Great Western in moro favorable
light. Yesterday the subject was brought up before
the Governing Committee of the Exchange
upon the reference OF the committee,
previously enormously named tho Commit
tee on Securities" but really properly
! designated as the "Committee on Additions
70 tha stock lisLn After an active discussion oi