The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-10-07
referring to the report we find the

From the foregoing it win be that the figures OF
the despatch false. Furthermore, we learn from
officials OF the road that they have no doubt the
will paid the 10th nst the line having earned
than sufficient for the purpose, and that par
ties willing to pay fifty cents the dollar
for nil coupons presented before that time.
The condition OF the line represented DO first rate
II was leased to the Atlantic and Pacific in 1872 to-
gethcr with leased lines for tho period OF 900
years and within the past three has been put in
first class ordeI II extends from St. LOUIS to Kansas
City, and is 2S3 miles besides its branch lines
ing to 144 miles 'sThe Atlantic and Pacific Railroad
Company have promptly met the demands upon its
treasury for the permanent Improvement and floating
liabilities OF the Missouri Pacific line. These demands
have aggregated than S. 600 O0o and the balance
properly chargeabc against the latter corporation under
the terms of tho lease December 81 1874
$13 73s or In recognition of which balance the Mis-
souri, Pacific Company issued and delivered 10 this
pany its Improvement bonds for So, 600 00o The Mis-
souri, Pacific shareholders received from this company
Ss72, 500 in dividends during the two and half
years ending December 81, ls74.n The Atlantic
and Pacific have recently issued s., 0Oo, 900 Of
Missouri Pacific mortgage bonds for the purpose OF
taking up 81 500 600 Of incomes and the balance is TO
be used pay the debt OF the Missouri Pacific the
Atlantic and Pacific There are said to be enough
sets pay the debt nearly twice over, and the Ian
guage Of director ''Never there time when we
were in a better financial condition than at present.
The floating debt OF Atlantic and Pacific the or
the report from which quote 81, 244 3l5 30 Il
will be seen that this indebtedness will DO more than
lqudated by the sum due from the Missouri Pacific
Company for moneys expended in its permanent i'm.
provement II may be added that
CAPITAL STOCK
OF Missouri Pacific is only about 6s 600 shares large
proportion or which is held by permanent investors
who easily frightened by Wall street raid And
Of whom increasing their holdings at the pres
cnt low figures In accordance with the lease
executed in June, 1872, to the Atlantic and
Pacific Road the stockholders 10 receive
$33o12o for the years 1873 and 1874, and
$406 ga for tho years 1875 and 1876 Tho earnings OF
Missouri Pacific during the present year are frankly
admitted not TO be great those Of 1874 owing to
the destruconby grasshoppers and the drought that
followed but nevertheless they regarded as ample
for all purposes During tho last two months the
traffic has increased The OF the decline in the
price of stock believed to have been discovered
1t appears that some gentlemen the Union League
Club discovered an ordinance passed in Missouri in
1865 imposing State tax the road OF fifteen per
cent OF its net earnings The law being shown to a
number Of stockholders scare followed, during which
a sufficient number threw overheard enough shares
alarm the and its finder ablaze The conse-
quence is known. The truth Of the matter is that
while such an ordinance did exist IL annued after
considerable litigation by the Supreme Court or the
United States which confirmed the right Of the com
pany to hold the road free and clear from all obliga-
tons to the State.
TIM MONEY MARKET
From the fact that money to-day call loans was in
request per cent it is TO be inferred that the nte
ror cities are finding larger for currency in the
movement Of crops, and other healthy commercial
changes. III be that trade improving no ba-
rometer is It's indication than this OF currency
and Wall street will be prompt to participate in the
cheerful feeling At the close, however, the ruling
rates were % and per Foreign exchange closed
quiet Sterling asking rates, so asa; selling 7ss
40 and 4s21z 4s36 Rechmarks, 935s 941I and
95 a 9514 cables, 957l; prime Paris, 52oK 5l0&
other rates, 5221s and 20
the GOLD MARKET
Gold opened at III and closed l161 with sales in
the interim at 117H The rates paid for borrowing
were ls4 and 1872 per diem and l. and per cent per
annum. Loans also made fat Rag money at
the closing price worth 1851
OPERATIONS EXCHANGE RANK.
Gold balances $gS2, 6a2
Currency balances. 1868 347
Gross clearances. % I'D, 600
CLEARING HOUSE STATEMENT
Currency exchanges SCI nc ia
Currency balances ........................ 35l5Ss4
Gold exchanges. .......,....... 23lI5s6
Gold balances 49, SD
There IL a probability that the Bank or Cslifor-
MIA has resumed business and affairs in San Francisco