The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1877-09-03

FINANCIAL AND business NOTE6.-
Gold closed at 1887 on Saturday. This
i, the lowest price since June 1862; in
other words, for over 10 years. In March
last it touched 1O4!, and many persons
tho .sht it possible we were coming, un.
consciously, as it wore, to specie pay
ments, but before the month was out it
rose to lO5, and during the next month
to 1917. So that it is now no more Ger.
tain that we are coming to the specie line
than it was last March. Our exports are
very heavy, as any one can see by mott.
cling in another column the shipments by
Saturday, steamers, and there is GER
tainly an immense crop go forward in
the next twelve months. But notwith.
standing these advantages it is not to be
expected that with s35O,OOOOOo of paper
and next to no surplus Of gold, we can
keep the premium much below its pres.
eDt quotation.
The new per cent bonds Of the gov.
ernmcnt are selling below par in gold in
New York. They are quoted at 1929
currency, This is about l per cent less
than they we're sold by the government in
July last. Some persons bought them up
in the expectation that they would com
mand u premium after the time allotted
for subscription had expired.
The Baltimore & Ohio road has sue.
ceeded, as it appears, in negotiating Il
loan for sS,O0O,OOO at per cent in Eu.
rope, which is lower than any railroad
hasObtained money for many years. They
have secured this loan by mortgage on
the Chicago division. The New York
Herald Of Saturday comments on the
loan rs follows:
"Itis to be borne in mind that this sum
i3 not to be employed for improvements
upon the road and its equipment, or 10
meet the demand Of an increased traffic,
but to pay off a floating debt which
should naturally have been provided for
by the earnings OF the company"
There has been heavy pressure to sell
the bonds Of the Marietta 4 Cincinnati
road under failure to pay interest. We
notice large sales Of the third mortgages
Is per ceuts) in the Baltimore market at
lss to 20. One Of the Baltimore papers
sdyises holders not to sell these bonds at
this price, and says that "it is the policy
OtsOme to create panic among the Wild
Ows and orphans who have small invest
ments in Marietta and Cincinnati bonds,
80 that the 3. & 0. may gobbIe them up
through its agents at low figures. We say
to them, don't sell now."
The same paper from which we quote
the above advice makes mention of a
movement to put Mr.. Garrett out Of the
Presidency Of the Baltimore & Ohio road
and substitute Mr.. Keyser. 1t depre-
Gates the selection OF Mr.. Keyscr, as fol.
lows: "While all must admit that Mr..
keYser's manners are more courteous,
and his coursc less Objectionable to the
employees than that OF either Mr.. Garrett
or Mr.. King, yet Mr.. Keyser cannot have
the confidence Of the business community
and without that he cannot be an
efficient President Of the Baltimore
4 Ohio Railroad. Que fact will
demonstraIe this. Mr.. Keyser own.
ed considerable amount OF Balti.
more and Ohio stock; when it was at lGS
he sold out; and when it fell to 30 he told
that he had unloaded. We must give
Mr.. Care tue credit for having bought
stock at high figures, and that he bought
heavily all the time it was falling, and
did his utmost to keep up the price. II
would be dangerous experiment 10 put
in his place u man who used the knowl
edge got in his official position to specu
late on its stock, and who sold out for 8
fall, when his superior was doing his ut
mos! to keep up the value Of the stock