The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1875-08-18

Theaters - Clergymen-S ummering
sions.
New York, Aug. 70.
The fact that Durcan, Sherman q Co.
have been detected in selling their own
paper in order to keep alloat, illustrates
the traffic in this peculiar article. 1t is
one of the defects, CT rather monstrosites.
of commerce that credit itself becomes a
matter of sale. Promissory notes are as
much an article of merchandise as sugar
and coffee. The great question when
| purchase of goods is made of an importer
is, "Will the note sell p No matter what
| be the real solvency of the houee if it's
| paper is favorably quoted. This lie Is to
| difficulty which seriously threatens all
beginners. Their paper does not sell, and
though they may be abundantly RESPONSE
| BILE, they are under shadow. AS result
| there is a frequent swapping Of paper.
| For instances, a merchant who is perfectly
solvent may desire to purchase q bill Of
| coffee on four months, but is told that his
paper will not sell In Wall street because
| it is not known. He proposes to give the
paper of another house, which being sale
| able is accepted. He makes an exchange
| of notes, and thus satisfies the seller, who
puts the paper into the market, and hay
ing solu III cares hot ABOUT i,s payment;
the maker, and has no other endorsers
| unless 1t be used at banks.
Nvsrrpv
hon W" SiNe ho'e "eie Jou w iio'
see it again till it natures, but through
how many hands has it passed? Perhaps
| tbot ot ono boroe- norhone ,hrorab ,hoso
y, La, uoAeh' II your puPVI NC Bn''
eugeu' that - nrst class, IL VIII oe bought
" some practlceu h0te uealer at ulscouh'
OF trille more than interest. In the
COURSE OF month ne may suspect It's Vaiue
and put IL again INTO the market, and 1t
may mus traVel rouhd un'il maturity.
traffic. but it ia impossible. Hence com.
merce is done here on false basis. 1t is
not the real soivency OF aeaiers, Out me
Soon as y mans pnies aat b"ioy a ccrtain
quotation, his credit is damaged to a de-
gree winch VIII rum ma keep your
paper up, Is the motto oil trace ana hence
business men resort 10 many eHpedients 10
accomplish this important ehd.
r,,y rrsr,,r
IA
~ niiSn' pe eAPcc'eu 'na' MS ia'sc es.l-
mate would result in fraud, and such is
frequently the case. If merchant knows
.ho, lilo noror collie ,ood;,,, ho NOV ~
'n"' i'a papo' 'e'i' 'e''J' NJ n''' Ion
clude 10 ISSUE R'rGe quan'iIy ana 'len
suspend payment. When ms notes are
oiiereu no one KNOWS whether 'hPy were
gwen LOT ,'ieic ce or "eie nlaue sun
ply 10 lraue OH. AN Illustration on lhls Is
gwen III tne ia,'u'e VI Du,'can' 'nci l,lun
" 20. watts of'fman o'', up spoticss
creuit, ana the piper l'snei ny MS mouse
was among me SUI eugeu. Wheh MS
lhey haTe uecn .ns, ,i ;t ~, ,m onI
anu YET tnc.i Ptpoi nu,'; "' SndaanI,, , how
laey eon, .hO ~ ','t;oi, ,boS,bad tbroyn
s.og, una .n1 Pap, 49, IL ,vlr,bin,s
~ LUSH on LUG i''' As' -
TIE LIMITS.
In Wall street the term in common par
,5 fr,s
lance Is Eooi haines' nov S0'N
NaNio ,.., &c o;,,. ~
euseu p"pe' s0|' Nv 60, H7,.,;,,.
hino pea ~ To- % ner cent third quality from
Is to 25 per cent. When house &c,
down to y month its ine is doomed no
mater no" solvent ~ ii''i w. ,,,rchasirr
contiluaiIy e'lioiii aSeso 49, fant,,ra ~
and thiS Is the liioss MP n.y., to hoar q GOOD
trade. nave hnown r'.m nd W. and 70 5een
name among 'so oouns.' 80 ,,,,en tbeir
up granu display d, . I'M 80 sntn
Deprecated paper hau sIaieu 49, rto EN- of
mere was ~ ~ 7rhay had a
Bowen, McNamee g W lpoy nni J a.
marble warehouse, snowy stpch 81 so9us
and heavy run OF .raue, ou. ioi ,f5
years before their lauule .neii pap Ia Iis
, be hau at TWO per cen. d iloI'h , we,
count IN wan street. WIS i nh 49,
then predicieu tneir Iai,u'1. lne s S'''
thing occurred Wi'h 'lic ~ nus y, o ~,
DAM oase ~, Wl'i'n wn.u n.;.' 3, ha
repu'a.ion. leaihut ~ n.y., Lar ,or cant
.nerr Pa 1,eoo m" in Val street And in duo
moh'h u'soou ta;,a a Pnsiness men nov
! .mno a; tho effect which the failure O
Irehiplc az .nc 80 n ',,;I, nov hove On thei,
& Duhcan' one,in''. W. .,' "' f';t,,ra york.
9 paper. ~ .u's PAW Jon,o op'' ~ cnnmerce
e lne nio'' e''eo'u'i N'''''70
t NOTE BROKERS
{, An the traffic in nancr goes through tn
e ,.r.,,.o.. yho, man has buil
IS hahos Vi o'"Ao's' Aei . -,
9 up reputation as no'e prohcr' he WI
e make money rapidly. The commission
ono eighth nf ore ner cent. which on larg
sums Counts up handsomely. One OF tn
leading note brokers IS inc house " .. W
Bogart GO 90 3osa'' i,,tiy s"' Ho ms an Sn
= ,b,s shows how well the business pays
The firm was employed by Duncan Shel
man " Co. I" shoVe OH tntir Wo,in!es
i. s nor sh nUSm' &, Co. we're .srilt
At Dun ad ,,ho onei ,horoughIv rotten The
70 euse,H, o ,p their head clerk 10 draw on thei
enip,ppf.a ano sold So we'll that fc
IS am 'u uears they were kent afoat. TheI
two lditiop to Bogart & Co., a doze
Is are e az ~ SSme of whom are doing wei
Tbsir bus 3 ess is strictly secret The
| will not disclose their customers ~ nan" NV
If you desire TO Wy paper 'peS notes " an
YOU az astonishing array OF no'es az =,