The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1881-11-02
FINANCIAL.
SOUND INVESTMENTS.

| PHILADELPHIA AND READING RAILROAD.
II i strange comment upon the action Of that
/ small section Of the shareholders who have taken
up The position OF hostility 10 Mr.. Gowen. the late
president, that wLeA their lllns have nc any time
! appeared % triumph the shares have fallen in
value while the smallest indication Of success at
endlng Mr.. GoHeIi's proposals has at once been
the si8nSl for consl lderable advance. This has
again been the case last month, when the shares
! have risn from 81 10 81, and tho Deferred In
come bonds from y discount to I premium. The
mere iact 81 the latter stock advancing T. Inter
lreteI as foicsbadO~inR the probable success OF
Mr.. Gowen Al the next election. lie earnings TO
the end OF August show an extraordinary i'm
proYement AZ compared with last year. the net In
crease eeinS si,374S06- or f274,5Gl
CoNFEDERATE cOTToN-LoANs-The all
yeilsenu!t which has lately appeared inviting
/ holders Of these bonds t0 deposit Tire samc
With tine influential committee which was formed
some months since, should, / think, be cordially
responded q. The position Of the uaf0rfunate
Subscribers 20 these loans hgs remained In the most
unsatisfactory state for many years, aud almost
universal belief has prevailed that it would bc
quite seless o. attempt any agitation for recon-
.deraton Of their rights. An impression, how
/ ever hss Always existed among a ccrtuin section
that as tme wore ON tne aPpaipntly arbitrary
conduct Of the United states Legislature ln eOin-
peling the southern states 10 repudiate their
l Liabilities Would prove susceptible Of some
modification or amendment; fence the exist.
cncc Of the committee. 10 l. undei stood that
under their auspices important negotiat!ons have
already been commenced, aud that although the
progress tus far has necessarily been but sOwa.til
there are suhciopt grounds for taking So hopeful
I
VINO are interested 10 cooperate In further pro-
ceedngs. at the outset. II IS urged ~ the strongest
plea on the part Of the holders that th0y seek not
7 20 enforce their claims upon the United Stltes but
D. request legislative sanction 10 the Gnnnlment OF
that decree which practically prevented the south
states. Who Incurred the debts, from recognize
ing their obligations even " they wished 10 - ,O
10 Is argued that the United statrs can afford 10
t'se generous view Of Tie position, their pros
mates which could possibly have been formed, aud
having now attained to such high position among
the nations, the opportunity occurs to remove fOr-
ever tie only one blcinsh attaching 20 American
state tccnres-yiL.. the rcpudlalOn Of these loaus
which were contracted by the souliern states.
At tae wort OF times thee bonds have COM
gRnded nominal value but, cOncuTcnty with
the publication Of The eabOys-menti0ncd advertlss-
nient, some active transactions have taken place,
aud tie pricc has advanced from its lately normal
ielel or ABOUT ~ per cent 10 1880, tie present
value beng about ~. At such quotations TIE
Oond0 ere practically selling % less than lottery
tc.et prices, And. ~ comp4rison With the loans
Of other countries b somewhat analogous POSI-
tiOns, they must surely be regarded ~ rldicui6usly
chssps isAef i.r instshce the ca-eof Mexico. lie
Indebtedness Of that country is IN accumulation Z
years duriug which time the established govern
utiil las Dteh ftlfatSdlF OferthrOMu by insgTfcC-
tioDs. Who have In uelr Term Cf Office Increased tie
debt n tho country, and yet, Notwithstanding ule
most positive aud plielt reputation 4 the debt
over snd over again, 10 Is now c0nHcerty asserted
tat AeHico so,ss o ren-bll.tac tse.f in tie eyos
II The world ~ iH.slng .n arrsngcInent viii Ter
- 264 yer cent. IN the case Of san urmingo
sgain, not one penny of the loan rhlrn was riss1
uF stfNF ~ tiiH iAtfs"t o. rflil tn NfNr ffnn
received by teht1ie, aid yci u now cOMn1nfs a
ysluc II 2 per ceut.. aud here sl-O arrangenents
win tie bonchDlder- are said % be PENDING Mo-
out going into tl" special merits Of tho t,rfetfs,
l0sns, pcr cent c-u scarcely he regarded as fair
trttmstc oi te value If airy American State scet-
rlty. willie Honduras Is worth r. Par.tri.ay Io
Costa kica -, and even lie de..isod furk ~.
The value u Tie cotton crop IN tie -ohthcrE Tor
Confederate states lat ysgr WAS feyenty-elelt
millions stcriing, 0r flm equal o. thc eutif rsy--
me OfGreat Britain. surelyeyen q dlspgtcG clali1
nn such wealthy debtor would be worth more
tLan ia. in tac pound.-FrOm 81. ViifaBi ~
London, England. no Z-It