The New York herald., 1876-02-28


we're within narrower limits The speculation in ST.
Paul and Northwestern bonds continued apparently
for the purpose Of aiding the market the correspond
ing stocks Hannibal and St Joseph eights advanced
TO 81 on the announcement that the March coupons
would be promptly paid. Central and Union Pacincs
also nrm
STATE BONDS.
Without being active there was fair business IN
these, marked by general steadlness Missouri Ten
nessees, Texas, Virginia consols and the funded
bonds OF South Carolina apparently the most
sought after the latter being especially strong and
scarce The financial outlook Tennessee as presented
by Nashville paper is not encouraging II asserts
that the valuation OF the taxable property the
will this year exceed $270, 600 600 which is a de-
since 1873 OF nearly $40 O00 II the next
Legislature TO treble the taxation and apply
to the year 1877 the LIST Of January 1875 would find
deficit in the treasury OF than ST. 500 000 1t IS
suggested that the debt be 'scaledn by compromise
with the bondholders, of whom II says, nne-tenths
live in New York city.
TIE BUSINESS
The quantity from all tie regions for the week
was:-Anthracite. l3s075 tons; bltuminous as, 252
tons Total s27 tons against 1872 800 tons anthra
cite and 40 S6S tons btuminous ota 173 l5s tons last
year. Increase OF anthracite. 51S5 tons increase OF
btuminous, 1884 tons Total increase, l3, 100 tons.
was;-Anthraciie, 2O35 Cos tons; bilumnous 800 $50
tons Total 345 545 tons against l4s5 500 tons
thraclte and 255,222 tons bitumnous total I75O.Sz2
tons) for the corresponding period last year. In
crease OF anthracite zoos TONS increase of btum
nous, 81, 65S tons. Total increase, 1874, 723 tonA
WISCONSIN
The following is synopsis OF the new Railroad law
Wisconsin, 10 replace the Potter law, which has been
passed by the Legislature
The first section provides for the appointment by the
Governor Of ono commissioner In place of three as
under the present hw The second secllon prescrbes
the duties of this commissioner, which give HIM gen
cral oversight OF the management and condition OF the
roads, and empower him TO inquire into violations OF
law The third provides tor annual statistical re-
port from each road to the commissioner, under pen
atty for compliance. The fourth estOps any road
from charging party more than another for like
service between stations, and gives 10 ali parties the
the charging OF unreasonable rates, either freight or
passenger The sixth provides for the furnishing Of IA
cilities for the shipment OF freight upon reasonable
notice. The seventh provides that companies
violating any OF the provisions Of the act
relating to extortion shall forfeit to the az
grieved party Tor each and every offence three times
the actual damage sustained together with the costs
OF the suit to collect IT, ~ The eighth for
bids the consolidation of competing lines under
one management. The ninth forpids any person con
nec,ed with railroad company to engage in furnishing
thecompany with supplies or being engaged as com
mon carrier upon the road The tenth IL unimportant
The eleventh makes IL the duty ofthe Chicago Milwau
kecand St. Paul Company to file with the commissioner,
for the transportation OF persons and property which
In force the 10th of June 1872 and these rates
shall not be exceeded by that company or the Chicago
and Northwestern, any OF their lines In any OF
their schedules. They arc further required TO sell ut
all stations 500 mile tickets and round trip first class
tickets between stations within the state at uniform
rate Of TIN ee cents per mile company being obliged
to accept fare less than i've cents between any sta
tions.
The remaining sections refer the repeal of certain
sections Of the Potter law the last declaring the
bill IN force on tho last day Of April next
MEMORANDA
The Charlotte Augusta and Columbia Railroad has
negotiated in this city sufficient amount of bonds to
pay of its floating debt
The Bank of New York National Banking Association
pays on Wednesday, March L, three and one half per
cent gold coupon on Texas sevens known as twenty
ortics. Also principal and interest maturing Texas
ten per cent currency bonds
The London Economist, OF February IL, says.-"Sil-
continues fall in value the price touched to-day
being 54Sd per ounce standard, while the market
mains hat. At present there is little sign Of
temporary rally, by which We may expect the chronic
decline in value to be from time to time arrested"
Since the tho foregoing the price OF
silver in London has fallen to 53d per ounce, and the
tendency is reported TO be downward
At an adjourned meeting OF the bondholders OF the
New Orleans, Mobile and Texas Railroad Company, heu
at the Office of Messrs Norton Bliss Co., yesterday
II unanimously agreed organize the New Orleans
and Texas Railroad Company with a share capital of
$4,000 OOO This company take the road from
the who purchased It for account OF the bond
holders. Every bondholder has the right to join the
new company and to receive $3.50 in stock for each
bond The following persons constitute the first Board
Of Directors John B. Laitc /. p Morton, Charles
Moran, George Jones' Henry Morgan, Oliver Ames. I'd,
Thomas N Hunt J. F. Terry, William Mertens Joseph
Segman. Bondhoders desiring to join the
ganizalion do by subscribing the articles OF
ASSOCIATION.
kilograms from Madison Wis, state that the Vance
bill has been signed by the Governor and is law
This BILL with the exception of slight modinca-
tons enables the railroads charge tho same rates as
vv era current previous to he Potter ct