New-York tribune., 1874-08-24

uucOU0lLOu8 -
to take effect Q certain day not many months tnete
after This should be settled in the convictions OF the
public MIND 70 that it may take the shape OF law tns
moment that Congress assemblies. With this snado~ re
moved the sunshine Of prosperity may once more
break all land and every vital interest respond
TO it's quickening beams.
While we must differ from the foregoing 30 far -
to believe that the present prostration 10 trade Is
largely due 10 the late panic enforced by the neces
sity or the part Of the people to economic, we
heartily agree with the article in the main. There
can be no reasonable doubt now that bad Congress
had the sense to comprehend the situation. and tho
honesty to apply tho proper remedy, and bad taken
one sin gle step toward return to honest currency
instead of the fatal step which it took in the opposite
direction tthe attempted legislation Of the illegal
issue of S2OOOO0 legal tenders by the Secretary OF
the treasury our present condition would have
been very much in advance of what it is to-day as
such an act would have tended to restore confidence
in the currency and in value generally. The market
for breadstufs is dull aud prices slightly lower
Cotton "cottons" to the buyer especially for future
delivery. In the dry-goods trade a fair attendance
of buyers from the South and West is reported,
but they purchase only sufficient for then
present needs, and wait for further decline in
prices which they may possibly get, as the impor-
tatious have been very large and the goods must be
sold at some price or be reshipped at loss. Money
continues in superabundance at to per cent on
CALL and to for frst-cass mercantile bills, which
are in demand. The gold market has been quiet on
narrow fluctuations and small sales. the transac-
tions of the week aggregating not more than one
fourth the amount of q weeks business a year ago.
The range of the week has been 1904 and ITO, the
latter being the closing quotation for to-day and
showing an advance of per cent for the week. In
u s. bonds there has been moderate demand ana
prices have advanced from to per cent the aver
age improvement having been about per cent The
Inman steamer City of Brussels. which sailed for
Liverpool to-day, took out the first consignment OF
new per cent bonds of the United States
funded loan, recently awarded 10 the
Rothschild Sehgman Syndicate. Mr.. Bigelow,
Chief of the Loan Bureau of the Treasury
Department, is in charge of the consignment, and
will make the delivery. He is accompanied by some
five or six clerks of the Department. Under the
contract the Syndicate pays all the freight charges
and the salary of the clerks. but they have re-
sponsblity as yet in regard to the bonds, the de-
livery not being completed by the Government until
the bonds have passed into the possession of the Syn
dcate in London. The bonds are Of the denomna
tions of 81 900 and $780, State bonds have been dull
with the exception of Tennessecs. in which mode
rate business has been done. Railway mortgages
have been somewhat better, especially for the Pa
citic issues. There has been material variation
in the price Of Foreign Exchange. In the railway
and miscellaneous share market we have had more
activity than for several weeks past and IN addition
to the increased volume Of business there has been
a moderate advance in prices Tue average specula-
tive mind anticipates further considerable advance
in the prices of stocks partly because they sell con-
siderably lower than at former periods before the
panic of last Autumn, aud partly for the reason that
they have been led to believe that We are To have
an active and prosperous Fall trade in general mer-
candise which would naturally increase the market
values of Railroad shares. This very feeling itself
has tendency temporarily to produce tue result 10
anticipates. Those who feel very confident IN their
opinions buying now lest the rise should be SO
sudden as to leave them out IN the cold" dow
mueh of this sanguine anticipation may be realized
we do not undertake to say but we venture the
op,niou that there will be opportunity for buying
stocks at the Exchange for long time yet 10 COME
The decision in the Wisconsin injunction ease Is
expected in few days. the court meets again on
the 18th inst The street gossips, claiming to have
information in advance, were circulating to-day a
story to the effect that the decision viii be in favor
of the railroad companies and predict advance IN
stocks as the result likely to follow but is quite
difficult for the common mind TO comprehend Why
anv decision that may be rendered IN this case
should properly affect the real value of ralIoad
stocks We notice that Judge Dillon OF
the United States Circuit Court. in Cham
bers at Davenport, Iowa, has granted a tenn
porary injunction the Missouri railroad cases,
in order that the question may come before
full Bench for decision The point at issue in this case
involves the question of the right of state authcr-
ties to assess railroad property higher for the pur-
poses of taxation than other property OF equal value
In the immediate vicinity. Whatever may be de-
termined as law in this there wonld seem to be
no serious diffcnlty arriving at the equity OF IT,
The leading stocks during the week have been
Western Union, Pacific Mail, Lake Shore. Union
Pacifc.and n Y Central, and the advance from last
SATURDAYS prices has been from n Hannibal * 1t.
.Josepb to ., in Rock Island Western Union adj
vanced q Lake Shore and Ohio & Mississippi each
.: Wabash and St. Paul each Il; st. Paul preferred
Il; Northwest preferred Il, and other stocks from
to per cent c., c. & /. c. declined per cent,
while Harlem and \. j. Central remained stationary.
The subioined table shows the extreme huetua-
tions in United States bonds, the leading railway
and miscellaneous shares, and gold made during
the past week. as well the closing quotations Oh
each at the dates aforementioned:
Highest. Lowest. Aug % Aug 10.
Us g. Coupon, lss1.~.ll3s llst ils. ii3s
Ss. SO coa ise2..llI22s lHiit, h. HE.
r. s 52OCou. ls65..llTA III .tlis nos