New-York tribune., 1873-12-15
INITIATION AND ITS EVILS.

BRANDY IN wAILcsT.--TBE FEvERisu REsULT-THE
EVIL EFFECT.
The condition of toe Treasury Department
was found on saturday TO give AS much delight to wall
ST. as IL is sincerely deplored by the country NO doup
seems now to be entertained in any quarter tla' 'io
Treasury must continue its steady drafts upon te wa
OO0OoO until the entire amount mas peen ''uo
With the possibility OF war with Spain hna''y "'oio
with the revival Of business throughout tne co""'
with the heavy dividends to be paid IN January "
with the hanks already so strong as announce sur
plus of sl0OO0OOO IN currency above their - per 00
reserve, business men think that thcfe wiz p W
portunty for a safe and steady revlVd OIL teNo
The necessities of the msuanaged treasury h'"o'-
continue to demand more greenoaeks; inc no"y
penses incurred in the naval preparations haVe!eV "
no there are even s2O00OOOo of legal tchders
,o no maid by the Government the Pacific Rairoad
bonds in January and thus the brandy, whch MAKES
wa.st delirous must continue 10 be administered III
alarming doses.
The result was seen Saturday in ieyerlsh stock
market closing at the highest prices Of the day. and
with operators loudly calculating well on the neces-
stiles of the Government the dividends and inter
est TO be disbursed IN January for the easy with
which they expect make the mad game go faster and
faster. They all count also, and Win certainty tha'
the January dividends will be mainly nvested-for lack
of the railroad which used TO be offered so pro
fusely--n the securities dealt in in the Street
RUMoRED UNION OF INTERESTS.
A rumor begins to gain credence among
brokers of proposed union in the interest OF the Pa
eidc Mail Steamship and the Union Pacific Railroad
Companies Heavy purchases have been made during
the week at every decline the stocks Of each by oper
aors who seemed be working into each others hands,
and the operations believed TO have been IN the
same interest and with reference to the next elections
in those Companies, now only few months distant.
The new iron ships of the Pacific Mail are supposed
20 be likely to bring tho service OF that Company
up to such point enable it to take away the DnI
OF the freight trade from the Union Pacific Rairoad'
and az any rate make it unwise that the two nstu
tions should operated in opposition to each other
ENGIISHJEN TAKING HOLD OF ANOTHER AMERICAN
STOCK.
Heavy purchases of Western Union are said
to nave been lately made through the agency OF a
prominent director for the interest OF English capital
lists. They nave always shown fancy for telegraph
stocks.
At the request of the Chamber OF Com
nierce special committee to consider the subject OF
National finances has been appointed by the Board OF
Managers of the New York Produce Exchange, consist
ing OF the President, Franklin Eison, Chairman IN"
Vce-President. Benz. W. Fioyd; the Secretary, Wu H.
Philips; the Treasurer, BENZ Bogert and three mem
bers at large Messrs. g. d. HARRISON John H. Boyn0n'
4
held on Wednesday in the managers room.
The managers Of the Asbury Life Insurance Company
after having curacd expenses so far as possible during
the past years, have finally decided II Is said TO
issue no new policies and gradually 70 close their bust
ness paying policy holders the surrender value OF
their policies, reinsuriDg them III otner conpanles
The eInbarrassuents under which TINS company mas
been abOnng for time have been luly stated III
THE TRIBUNE onihe authority Of its ofiicers.
In the suit for the recovery OF siOWOOJb brought by
Blederlnann & Co. against Drew Robinson Alden Tor
particulars Of which have been publlshed IN III
TRIBUNE, order issued from the Court that ROD
inson and Alden, co-defendants with Drew, DC
| examined before Walter l.. Livingston referee,
prelimnary tal, relation to the TRANSACTIONS Hei-
tioned in the complaint The hour fixed for exainlhi
ton II d. Saturday. Judge Fullerton appeaied
son. and Birdsall Alden. Mr. Drews counsel gave
| notice that he should move 10 have the order Tor
examination dismissed, and would serve The papers on
plaintiffs counsel Monday. He therefore asked fOI
adjournment until Dec. u, al IL III" WHICH Was
In the United States District Court Saturday, when
the bankruptcy case Paul f. Munde against the Union
/ Trust Company called, wheeler IA. Pechhdm SUD
mitted affiiavts showing that the Company had re
sumed business and paving It's creditors In speak
ing about the matter, Mr.. Peckham SAID that NUDES
| effort 10 throw the Company INTO bankruptcy Wts
/ nothing "but attempt TO Dlackmal IT, Judge
Blachford Immediately dismissed the petition. and re
marked that u was every strange thing That II was
filed six davs after the Company had resumed business
| The petition of william X. Siney 20 have the Union
Trust Company adjudicated a bankrupt was also dis
! The petition OF ]. d NJ. Z. Fox. and william TOroci
have Jay Cooke d co. aduGicaied baukrupt- IN TINS
district was suspended pending the bankruptcy pro-
| ccedng against the same arm IN Philadelphia
The hearing Of the petition OF AonzO u. Morgan 10
have Howes 4 Macy declared bankrupts adjourned
| 10 next Saturday