New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-08-03
The transactions at the CLEARINGHOUSE for the past
week compare as follows with those of the previous


week compare follows with those of the previous
week:
feaupes for the week ending July a. tg5i a0i ss3 20
Clearugs for the week ending July 3I... 3J27sI5 %
Balances the week ending July A...-.. ls6MV0 u
Balances for the week ending July J- 1913 9l3 os
The Manhattan Company have declared divi-
dcnd of 3 per cent, payable OH and after the 10Th
inst.
The Philadelphia stock market is steady Penn
sylyania 6s, third ssue no. Philadelphia ard Enc
Railroad, oils; Reading Railroad, 30; PcInsy
Railroad, 81 Is: gold, 1928.
The RaiI,coy UorM of Philadelphia treats ct the
failure of Duncan, Sherman & Go. and ts probable
effect upon the business interests OF the country as
follows:
daily papers and evident that like those lately re,
ported IN England. 1t Is result OF pas, 'I9loos at
time. except in its period OF development. u Is
tate Of course. that Just at the dawnng OF more bos
reros times such events should ranspire to check tho
hopeful! fee ling and excite unwai1aned alarm bu' H. rs
have hut temporary effect. In point Of fact may be
asserted with truth. that the STRUGGLES of such nous
to bridge over the disasters Of the panic and to
maintain tier standing, have been potent carse,
among Others, Of the prevalent uncertainty, dlss''
enioyed good credit mp 10 the day Of the failure but
while thus strong before the pnblic II has udouiedy
been to many that the house had lis "shee."n
and that It's strength had been seriously Impaired mus
lis condition must have created anxiety anons tnose
connected with by recunlary interests ara s'u"ya as
such matters concealed they ahtct SUPPLEMENTARY
te movements of all VINO kno" o; suSlee1 , r.
If people are apichensye o. tfVpc' w.. 9th
may avc!ted. they VIII guide TIER o."iatins VIII
the caution inspired by danger IN view, and nneol-
scously influence Others 10 ;ict th'u! hiu SUPP ~
Under this rcsSpn alluded IN our EiSt - tfo "i
troue and as events not inconsistent with cNlcctI-
tons Of Improvement In us'ncss We nD ,u' nat W
acquire the proper condition OF health III tIe ph s1
community t. make coming prosperity mere rtai ana
more durable these Developments are actuIE icceSsi4.
PROGRESS may Eot DO impeds 10y unseen D no "sS per
picking obstacles, and thcte ,rembin nso'i -
Of Eas finn
pass the ciasn Of loss ia safety o. come cri'-hS ~
ground The later Is d.,;le'',s a,.,,i, 81 i .u ~
i better than suspense wicl contributes ~ 'lspuS,
"ai ,hs ed Lolsc qId ,.lnr 10 81 was perhaps
Considered one Of The strongest and best n The country.
~ ~ car th@v wcfr saved u, the aid OF George Pea
boiy of London who in turn carried Through Tue
cr.is by the assistance OF the Bank OF Lnsland 81 ne
sinee that time Duncan, sherman ~ Co., aitholsh III
Good credit. rave by m"us riu%cd "a high III thc
sale before and this fac as donn'es1 Been i
Lo.lsc We INFER ina spccuaiion N cot. or wn - 'U'
the legitimate business OF bankers ani nir,idtnt IN
v,tncut in railways. or loans To- ijndciousiy loced
and badly administered lines which are, to say me
least DANGEROUS XporimeIts, havc nhteu pa,,y "'
In The crisis OF 1873 the disastrous blow given to tic
railway inter ST. aAd especially 10 he% ll,s "i Oh U
under heavy burdens debt, must lave been severely
by this Eouse. struggling nIde lhS nlsios'I l
The cotton operations nave pt"t"A pee" '' . -,
as mode Of rcrulcratng tine losses OF the 80.
Thus while the ea,E Ca s."s seund That ' the real
trouble springs from operations PRIOR 10 100;
of paSt undo ikEgS, its hearings upon thc pre- ~
and future be limited TO its influence IN realoiS %
snmp the business restoration Wiich rFrh''u
close hand This can hardly be- serious or Pro'ohgu
DELAY. for the bases of Improvement have hpt nt u,
rnTbcI cXc,ut Insonlrh public cOnfdt nee may be I'M
pairc and these bases SOud. no outcr"iinss or
Old disorders can prevent the gradual recovery when
the abundant resources q. the country and tie ea'c
energies of the people must stimulate ana encourage
SucE spccuaiion may receive important chcch,
fnr uoyclncnt, in Was more dependent upon the
prevalence 0f bDyant and hopeful feelings; but unless
his failure brings IL train. Ia cnntiiic ana IN
crease The alarm clc It's will pass away even ia
that sensitive ana SENSATIONAL locality.