, 1874-08-19
The cloarIngs to-day werc 90, 400, 900.
Preston, KeRn u Co. Quota:

4ho american Consul at Frankfort has writ
lenAas follows to the 8taso Department:
The rapid increase In tho numbar Of banks in Ger
th.t then feared Many q .hem I.vo boen CON-
upon iii. tho rsauit spd eonseau usnoos ha1o % besn
snnous n 70 men Of small means Who have bought the
Of tho Increased facilities for borrowing moncy.
sess sssea Ioa ss f. "
holder sold s aw raies to Frankior Sanf
courseng Words md uenesa b. Iopaa q TT f.9go o
profits to tao.aseyes have succeeded in sailing tben
who hayo scattered them throughout the fcnRth md
Bonds llavo been issued for Ito soe object Of meet
beads limited by law Is wholly issued, tho railroad
either At enee @ e hs amount
and soon large floating iebs is created, The bond
holder = theu asked to contribute to pay OF Tie aoat
the mortgage bondholdera but they aro let 10 conenj
against tho ps1tea whom .hey hsve assisted when iheJ
oond ind no aid III tho United Htates.
ia great mistake to suppose that tho captslists
and wealthy bankers Of Europe aru tho solo holders or
The hoe.s Of the creates. portion Of uned ates
rhsy ynsss sss
70 W found IN the smallest aounta in the handp OF
the trader and Tho mochauie aud all Classes, Al the
present time Ns7A 80 many railroads have failed to
tlon. Now tho German strnsts all It ID ,selean Ia
to deouatgnto that thia road cannot ail to nav
aure ot Se sats x aeora snd 1%s.na use
70 The aeraa e.nnot naa sssa saa
powers OF taxation, fail 10 pay ts liabilities.
THO aornans nov begin to helieve that they hsyo
interested to sell and Introduce er bontla Into tha
markets. OF Europa exhibit now no regard for
whyo ther onforcing their llena. They seo nd that
sovereign States deny and disregard their guarantee:
shtt is0m tas distance they seem Indifferent them
TO wholly avoid their payment. The embarrasempnt
Of railroads. that arc now nndniuhod sodu1s 10 bo
parties. II IL different With completed roaa which
N order TO make them profitable, only require the
bns1ncRs that time will bring to them,
The honor as Hpll tho crodit Of our country has
been posilsd By the rccklcssneas With which, Under
shs las atea and corporations 4ave bcen allowed to
isslo bondB- 1t u now to b wholly sacrificed bT the
failure Of parties to most hoir payments tbo INABILITY
of tho ho!dor 70 compel nsynent and tbs supineness
sais ny @'1n WHICH TIC country regards this
Tho capital Of Europe has bcen turned toward. .bo
Of htghez interest," Now the interest oGerod by E,,r.
Pean enterprises oqua to the uaual Of interest
u TIE United states Hereafter tha capital viii ind
apanuAnt use ~ tts OWL country. A proof of thiy
may bo sisted that in 1872 sarcs md Donda Of diS
!ersnt governments and new enterprises were offered
n ne nnfket OF Frankfort to tho amount OF nearly
n,oO0, ,0oo,o0o. '''
LATEST.
ma1cvnto Mew xonH, nsnol Aug 7s-alonoy, 2@s Primo
Tho produce exports for the week vere
&C. 60 S496 1885, an increase over last week OF s14s-
Customs receipts, 4G12,00O
All sales Of gold to-day wero 1t 109sG, Looming
rate tlat. The Assistant Treasurer disbursed
$50, 900. "'03'0s"
Clearings, ss,ooo,ooo.
Governments firm. State and railroad bonds
quiet. 3e~'1'
Stocks opened firm at ]S@h above the closing
Quotations, Of yesterday; afterwards became
strong, and advanced A@N per cont, followed
BY BY decline Of 75!@1, closing dull and steady.
1T. Louis d Iron Mountain sold at 10. and was
Afterwards bid up to a without sale. Among
the sales were $4,000 Western Union. IO.O05
Pacliio Mail, $500 New York Central, $500 Lake
Shore, 1900 Union Pacific and LOCO Wabash,
;, At meeting Of the Board Of hianagers OF tue
trodnco Exchange, held to-day, communioa-
ton from representatives Of tic Erie Railroad
Company, New York Central l. Hudson, and
yennsylvania liailroad Companiea waa received.
aecl1ulng to accede TO tho terms Of tho Produce
Exchange. to-wit: "Tho abolition Of 80 per
n9 Tor handling graln." resolution was adopt
ca oy the Board adLerinK 20 their original promo
sltion. The action Of tho Board became known
on tho Stock Exchange just before the close Of |
H@4 per cent. -