The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-01-05

A POSSIBLE SOLUTION OF THE GOLD PROBLEM -
THE TREASURY GOLD RESERVE, $780, 982-
Mr.. Cox's OPPORTUNITY ON SPECIE REsUMP-
FERENT UNDERSTANDING.
Saturday, being the first business day or the
year. was SO exceedingly quiet that no hing could
be said OF 1T. To-day, however, entering upon a
new week, when there seemed promise OF the
continuation OF previous interests, there was more
activity. The general disposition appeared to find
illustration IN buying purpose, and for the exact
value OF that appearance the reader had pet
ter consult the money article. In the gold
market the announcement that the Secretary
OF the Treasury would not sell gold
during the current month provoked both surprise
and discussion but an explanation is readily
found OF this new policy in an examination OF the
debt statement supplied December 81, 1874. In
this we lind the following
SIGNIFICANT FIGURES.
Referring TO the ''recapltulauon" we quote:-
Interest due $50 72f4n
Coin cerhcates 25406OO
Caiiea oohas i9'.1''u
Coin in treasury, December 81. s7i.. Sl'5s7,4
Actual coin owned by the government mot sub .s,
ject to immediate caD i'll Treasury vaults.. $i9992
This is certainly not an encouraging prospect in
looking Forward to specie payments, yet there are
OF ea n Is say 10 spe
why the government Is not gong 70 sell gold this
has the moor on this regard.
AN AMICABLE SETTLEMENT IN c., G. AND l. G.
The meeting oil the stock and bond holders OF the
was held yesterday to hear report from the
stock and bondnolders' committees appointed some
holders the total bonded debt amounts to
S24s59,724. The bondnolders' committee state
that under the amended lease the Pennsylvania
Railroad company Is liable Tor the interest on
those bonds Tor wnlcG tue SAID company claims to
be liable. The committee recommend-arst.
that the drst mortgage b0ndholders call .
meeting OF that class oil bonds and ap-
point special committee, with full power
they may be instructed to do; and second. that
the second mortgage bondhOlders call meeting
OF the holders OF that class OF bonds and appoint
special committee, with Iull power to take charge
OF and protect their interests as they may be in-
structed to DO; and third. that the two commit
them The stockholders committee made q repOrt,
IN which they stigmatize the AMENDED lease and
contract as conceived in bad faith and cOnsum-
mated in fraud or ignorance or under the pres
sure oftnreats OF legal complications and exposures
strongly opposed by Colonel Thomas A. Scott, OF
the pennsylvania road. ana others; also by MIR.
alter great deal OF discussion. this port was
lalu upon the table. The meeting then adjourned,
and according TO the recommendation OF the bond
holders report. meeting OF the hrst and second
mortgage 00ndhOlders was then organized. At
the first mortgage bondholders' meeting Mr.. F. J..
DePeyster offered the following resolution, which
was adopted 1tT
Resolved. That the present committee Of the bond
holders be authorized to act committee for the first
consolidated mortgage bondholders and other bond
holders included i'll the $5Sl OO bonds and that they
hereby empowered to employ counsel to draft an
agreement be submitted 10 said bondhOders for ap
provaI and execution.
The second mortgage bondholders then met and
approved the same committee TO act Tor them.
The condition OF this ROAD has passed so Tar be-
You'd the ordinary comprehension Of the average
operator on the street that the above announce
ment will be read alike with curiosity and inquiry.
Satisfaction has yet to come. G. U. and |. c. must
give some evidence OF capacity II 1t expects to
get out OF Its present difficulty. Throwing Itself
ON the Pennsylvania Company Is very doubtful
eXpedlent.