New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-08-07
FINANCIAL And RAILROAD NOTES.

The officials Of the ST. Louis aud Iron
Mountain Railroad report that they have negotiated IL
England s2,5O0OOO OF their consolidated and second
mortgage bouds.
The Treasurer of the Peoria and Rock
Island Railroad in this city consulting with the boud-
holders of road with view funding tho coupon
la default. aud the four next maturing coupons.
At meeting of the Norwich and New-YOrk
Transportation Company held in Worcester yesterday.
julius resigned the position Of general manager
OF the Company. AT the request OF tne company tue
resl gnation Will not take effect until Oct l.
In the Superior Court in Chicago, yesterday.
Attorney General Edsall introduced bill to appoint
receiver for the Atlantic and Pacific Insurance Com.
pany ana to issue Injunction against It. The coun-
sci for the Company produced andaYts TO prove that
such step unnecessary. The case was adjourned
over for two weeks.
| The committee of the first mortgage bond
holders of the Atlanta and Richmond Air Lin Hallway
Company state that there Will be meeting OF the sub
scrbers to the bondhoders' agreement, their rep
r,entayes in this city to-day for the purpose OF rat
Tying arrang ment or settlement o. the dlins oil
DOndholders without resOrng 10 foreclosure pro-
ceedngs. upon terms which the bondhoders committee
| consider advisable.
| The Committee of the Southern Minnesota
bondhoders reported that under decree OF the
court the road will be sOd and bid in by the trustees
for the bondhoders 1t viii then be resod by the order
the majority pursuant TO the right OF resale secured
in the mortgage and confirmed In the decree For mo
protection OF the bOndhOders, the committee must 20
prepared buy the property at tue resale. Win
| view 10 the proposed REORGANIZATION.
A report that the International and Texas
Pacific Railroad had obtained grants or State bonds at
rates of $4,000 per mile Is not strictly accurate as the
Texas charter grants that road bonds or land
sections to the NILE 20 me or f, opo1
has given that road the land. The decision OF tho
Supreme Court was not that the Legislature had ex-
ceeded its powers and could not make the grant 20 tue
Iuternatoha but that the court mad no Jurisdiction "
grant mandamus against an executive officer.
At meeting of the Pacific Mail Steamship
Company yesterday It resolved to insure II OF tho
Company's steamers. The City OF PeKng and the City
Of Takio are to be insured for s75OOOo each The Com
pany entered into contract Win John Roach tha
ship builder for three trstcass ships 10 DC constructed
makes me total cost involved $.SO0O0O. In addition
there is an allowance OF 100000 for the outht OF each
steamer that the complete cost OF each Will DE |oooo'
President Jewett, First Nlce-President
Blanchard General Manager Clark and Chief Engineer
Chanute Of the Erie Railway Company started ON tour
of inspection over the trunk line OF that road yese
day morning President Jewet, in addition to his pur>
nose of inspecting the condition OF the road will study
its present working capacity with view 10 introduces
improvements by which passenger ann Irelsnt uslao
may be increased This Is President Jewetps nrst tour
of Inspection over the road has election as ITS Gu ei
executive officer After he shall nave informed hhseu
In regard TO the requirements OF tue man me, uo VIM
consider the branches Win tue oJeS' VI ilnPi"'Hk
| their condition also.
The action of the Bank of England in raising
IT'S rate OF discount from three TO four per cent was tho
cause OF general discussion and some depression 10
Wast, Yesterday where it was regarded TO some eh
tent as an effort obstruct the placing OF the new hsa
ner cent bonds the United States the theory pelhS
that the Bank fearing that the bonds would come 10 Lon
don for market. had purposely raised the rato io
money. prominent member OF the syndcaie, n9 Nv
ever. djsclamed any such theory ana sad that tbe
Bank had nearly 100000 sterling In ouiion a
the outflow the rate 9ad eseb ha nS Of
the Ell 100000 mentioned ne Debe'eo 'aa' '"o Jul" Va -
used III the purchase OF gram