New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-01-20
Aud the following for city bank shares:

The Cook County National Bank Of Chicago by
vote of it's stockholders decided to-day to go into
voluntary liquidation.
The Stuyvesant Insurance Company has declared
dividend of 10 per cent, payable on demand
The Howard Insurance Company has declared q
semi- annual dividend Of per cent, payable on de-
nand.
The Philadelphia stock market is active; Penn
sylyania Skies. los; Philadelphia and Erie kaii-
road lei; Reading Railroad. 5Si; Pennsylvania Kali
road. Use. Gold 1l9l
The following extracts are from the Annual Re-
view Of the Iron Market by Messrs. Bigelow &
Johnston Of this city;
The panic. however. Tough potent cause OF the Gs
preston ruled all through the past YEAR mas
sot been the only one at work IN the IRON ,r1e
M the supply OF capital without when IL was lpos,I
BE to carry out the nsO SG sSrsad had az
tarently used both their ability ana incnnauoo anu
Dor many months 1t had been almost lmposSTo =" &
the bonds OF the most promising someone's; tHSp ou u
dton the great which had swept p1ces IN Europe
20 40 high pitch had begun TO reeede, lOckouts on
the part of employers 20 enforce reduction in wages
took the place Of strikes for advance ana general
snbsidence OF the demand for iron all n9SF the
siyllized world, gave warning that we were about
20 enter again transition sI2c, but this time from
high to lower prices, avSys more painful and dhenlt
road 70 travel tbsn It's foru, The stimulus OF
high prices, moreover caused an enormous extension, Vi
capacity for production, both OF raw ana manuae
tured iron with Its accompanying Keen compe'iOh, ~
that even with continuance OF the prosperity whlch
existed for several years before the panic VIC were
10 position meet 81 home nearly all the demands
likely 10 be made 10, II worked our capacity UP
TO lie fullest limit Looking back, therefore, on we
thorny path Of the past twelve moutbs AZ the profound
depresslOn aud tremendous shrinking In values we
have reason 10 congratulate the trade on one thnG,
that go few failures have occurred, and that we Lave
such valid evidence Of tho inherent soundueSs OF TIE
trade generally. .
fact that a serious crisis a. impending, ana tbat W
well the burden has been borne hitherto, thers Is
the ability OF the brOa Test back aud II Is an
pen question how long the present strain can be sns
AIMED without entaihng very serious disaster very
general expectation prevails that with tire advent oil
tprIng will witness revival OF all the dormant IN
dustres OF the country. No doubt IA this a. II all Oi-
lar cases, the wisa is father 10 the thought and It
would q little difficult TO define precisely on what
basis this expectation rests, that would not
have applied with equal force TO the Fall
trade Of 1874, which proved so disappointing what
ing long the air Acd with rumOrs OF defaults,
business But for there would BOW DO enough q
10 come. Prices low point, aud there las MOI
constructing roads cboaply the present ae DIFF renee
mile OF the road being about s. 500 other accessories ana
equipment being reduced in prop rt.On. TINS great
change In consumer favor NUT long begin 10 nave
ing further In uncOmpted schemes mast sec taat they
viii favorable chance for changing
low cost dead into living, active AMI profitable
INV