THE DAILY EVENING TElEGRArnPniLADELPmA, THURSDAY, JULY 18, 18GT.
Owning ricppli
rUBLISNEO EVERT AFTERNOON.
(SUNDAY! KICKFTBD),
AT TBK EVENING TELEGRAPH BUILDING.
HO. 109 S. THIRD ITBEETi j
Frio, Three Cents per Oopr (Doable Sheet), or
Eighteen Cents par Week, paable to the Carrier, and
mailed to Subscriber out of the city at Nine Dollars
per Annum; One Dollar and Fifty Centi for Two
Months, Invariably In advance for the period ordered.
THURSDAY, JULY 18, 1867.
Presidential Theories versus Acknow
ledged Facto.
Ta theory propounded by President John
eon, that if Congress abolishes his so-called
State Governments in the late Rebel States the
general Government will become responsible
for the State debts of these States contracted
before the war, while too absurd to be received
otherwise than with almost undisguised con
tempt by members of all parties in Congress,
is seined upon by some of the Democratic
newspapers that sneeze every time Mr. John
son takes his snuff as a most remarkable affair.
The New York World, for instance, calls it a
"hot shot fired with admirable dexterity and
precision into the very magazine of the radi
cals," a "dilemma," eto.
It is amusing to see with what facility these
conservatives forget facts which everybody
else remembers. If the overthrow of these
Johnson State Governments by the United
States entails upon the eduntry the old debts
contracted before the war by the afterward
Rebel States, it is dilfioult to see why we have
not already incurred that liability. Nobody
denies that we overthrew the State Govern
ments that were in existence in the Rebel
States at the closing of the war. If any lia
bility for the old State debts could be inourred
by the United States, then was the time when
it was done. If conquest entails the debts of
the conquered upon the conqueror, then we are
"in for it," beyond a doubt, for we did con
quer and subdue and annihilate the State
Governments of the Rebel States. Sherman
sought to save them in his celebrated outline
of a treaty with the Rebel General Johnston(
bnt the Government refused te listen to the
proposition, and the Rebel State Governments
went out into utter nothingness.
The fact is, the continuity of existenoe in
the State Governments of the late Rebel States
has been fatally broken. If we take any of
the loyal States, Pennsylvania for instanoe,
we find an unbroken chain of existence from
the first moment of its being down to the pre
sent time. Each successive State Government
has grown legitimately out of its predecessor.
Each successive constitution has grown legally
out of that which went before it. There has
been no break no hiatus. Bat in the case of
the late Rebel States a different phenomenon pre
sents itself. If we trace the chain of their govern
mental existenoe downwards, we come at the
close of the Rebellion to a break. We reach
a period when the State organization perishes.
It does not take a new form, but it absolutely
ceases to be. A gulf yawns across which no
line of continuous organized government ex
tends. It is like one of those catastrophes in
nature of which geologists tell us, in which
all previous organisms perish and go out of
being.
Or again, if we start from the present and
go backwards, taking Mr. Johnson's illegal
but de fact State organizations as a starting
point, we quickly reach a plaoe where the
line breaks. We find his governments having
no bond of connection with any that have gone
before. They do not grow out of their prede
cessors in time by any legal or constitutional
process. Their history runs back to a Presi
dential decree, and there it stops. Between
them and all that were before there is an im
passable chasm. They are mere usurpations,
without the faintest shadow of legality or con
stitutionality. I
The truth of the matter is, that there have
been no constitutional State Governments in the
Rebel States since their old loyal Governments
were superseded by the Rebel organizations at
the breaking out of the war. Everything, from
that time down to this, calling itself a State
Government there, has been as foreign to bur
Constitution and laws as was the now over
thrown empire of the dead Maximilian. The
. people remain. The State, so far as we use
that word as synonymous with the people and
that is one of its legitimate uses has abided
amidst all the changes that 'have ocourred in
its outward organization. All the obligations
honestly incurred by the people before this
ra of rebellion and revolution began, remain
in full force, and must be assumed by them
the moment they obtain once more a legiti
mate organ through which to act in a corpo
rate oapaoity. The idea that the general Gov
ernment, in relieving these people from the
illegal and unconstitutional and foreign
Jltate Governments that have from time to
' time been thrust upon them during the last
six years, has thereby absolved them from
uavinir their just debts, is an absurdity
so wild and illogical that K could only have
originated in the brain of a man blinded by
wassion and drunk wltn tlie spini oi iacuon
The people will soout it, as they have already
pouted iU author and his foousn policy.
Jndee Sharswood's Personal Popularity.
Taa Democrat think that they have certainly
done the smart thing this time in the nomiua-
Hnm at a standard-bearer, and they count
upon th "personal popularity" of their can
didato'to carry them through. But let us re
mind them (cruel though it be) that they tried
thil' dodge with the martyr MoClellan, and
f.llail. They tried it with pure, virtuous
Woodward, and were beaten; they tried it with
high-toned gentleman Clymer, and fizzled; and
to-day poor "personally popular" Sharswood is
made thrir victim.
GtttUwwn, It won't do. When you select a
candidate because he is "personally popular,"
don't cripple him at the start with such a load
as even the "Father of his Country" couldn't
carry through on Am "popularitr." ' ' !
As sporting men would say, the horses in
the coming raoe are not fairly handicapped.
Sharswood carries too mnoh weight, and,
though he be thorough-bred, Williams will
distance him. ... I
Personal popularity will not give "Judge
Sharswood three hundred additional votes in
this city. This is no rash assertion of ours:
we have taken some pains to inquire amongst
the class with whom he is "personally popu
lar," and invariably we receive for reply: "We
like him very well as a Judge and as a gentle
man, but by voting for him we might aid in
(securing the defeat of the great party whioh
carried us safely through the Rebellion. Oh,
no ! rather see him where he is, and where his
peculiar political views can be overcome by his
two loyal associates, than help to place him on
the Supreme Bench, and thus give the opposi
tion party the balanoe of power."
In this connection lot us say that we chal
lenge our Democratic contemporary of Ches
nut street to give us, on the first day of
October next, the names of fifteen Republican
lawyers in this city who will vote for Shars
wood; or the names of two hundred and fifty
Republican voters of Philadelphia who will
vote for him; or the name of one Republican
judge in the State who will vote for him.
Our people are beginning to realize that the
contest this fall is simply initiatory to the
national contest next year, and they will not
permit the disloyal party to get the advantage
of position for that fight by rushing through
a candidate on his personal popularly. Gen
tlemen, it won't do. Try something else.
Concerning the Purity or oar Local
Judiciary
Iir the North American Review for July is an
extended article on the subject of the Judiolary
of New York city, which is in character rather
an expose" than a criticism. Supposing all its
statements to be true and the high character
of the Review is a good guarantee the cor
ruption of the New York bench must rival
that of Great Britain in the days of Bacon and
Jeffreys. It seems as though justice was de
nied except for bribery, and that of all lucra
tive positions that of a New York Judge is
the richest. The article divides the cause of
the corruption into different heads, and seeks
a cause for each speoies of evil. Thus, we
are told that the vast patronage in the hands
of the bench is one reason, and the irresponsi
bility of the Judges is another, and many
others; and the writer deduces the
conclusion, if not in words at least by in
ference, that an appoiated and not an
elective judiciary is the only method of secur
ing honest dispensers of publio justice. So
far as New York city is concerned, we think
that the deduction is perfectly correct. The
fact that out of one hundred and twenty thou
sand votes over seventy thousand are polled
by foreign-born citizens, and that the worst
class of the people rule the political parties, we
think makes it imperatively neoessary to place
in other hands the power which the people are
not qualified to exercise. In the hands of the
Governor of New York the selection of judges
would be much better lodged than with a
clique or packed convention.
But because such is true so far as New York
is concerned, it does not follow that the same
defects exist in Philadelphia and other "vil
lages," where the primal simplicity of the
people has not led them to delegate all their
political power to foreigners and aliens. We
do not consider that the good Judges that
Philadelphia has been blest with are "aoci-
dents." Nor is it at all likely that the day
will ever come when we will have bad Judges.
It has been many years since the city of Phi
ladelphia selected her own judicial officers.
Nearly twenty year3 have elapsed since the
act of incorporation made that provision, yet
we have never yet been afflioted with bad, or
even a mediocre Judge. The reason for this
we think is found in the established policy of
the bar to create a controlling influence in the
Judicial Convention.
It matters not which party makes a good
choice, the other must do likewise in order
that their candidate may Btand some chance of
success; and so long as the political parties of
Philadelphia continue so equally balanced, so
long wiliwe be assured of having good Judges.
Neither dare put up a party candidate who
has no requisites but party services for suoh a
place, for the gentlemen of our city who hold
the balance of power would evidently support
the beat man. The purity, therefore, of the
bench demands that a contest be made for the
position of Judge whenever it beooraes vacant
If once an idea prevails that there will ba no
opposition, we will find the selection's descend
to second-class nominees.
It is only the absolute necessity of a good
selection, in order to succeed, that secures for
us a judiciary so far superior to that of New
York. We, therefore, are doubly opposed
to the idea started recently, that there should
be no nomination made by the Republican
party for the post of Assooiate Judge. We
are opposed to it because it will inaugurate a
precedent dangerous to the continued purity
of our bench; for although in the' present case
the Opposition may have an honest and ale
tanaiaate, u does not follow that the next oan
didate for universal favor will be other than a
popular man; and, secondly, because we do not
desire to see an office within our reach pass into
the hands ef our opponents. It is the equal
uauHnw vi ynrues and the certainty of a oon
test mat nas given us good judges, and we
deem it exceedingly inexpedient to have 'the
precedent established of allowine a fudge to
assume the ermne without the people having
a choice between him and a competitor. Only
by following the old polloyof a contest lean
merit be permanently secured ti,. iJnnh
of Philadelphia made safe from the corruptions
now disgracing that of New York.
An Amendment to the Constitution that
Ought to be Adopted,
la the Senate yesterday, Mr. Wilson, of Mas- j
saohusetta, offered a Joint resolution proposing
the following amendment to the Constitu
tion: '
Arilole-No distinction shall be made by
the United Mate, nor by any HUte, among olii-
n, In their civil or political rlguia. on account
of race, color, or previous eondUlon." i
Such an amendment, if adopted, would go
very far towards settling the most vexatious
of our present political issues.' Under our
present system of operations oitizen&lp, with
its highest privileges, is at the mercy of pre
judice and injustice. A man, for instanoe, who
has for years been a citizen of the State o'
New York, upon removal to Pennsylvania
may find himself, without the commission of
any crime, perpetually disfranchised. This is
the height of injustice. Indeed, if the con
struction of the Constitution, maintained by
some, that suffrage is a matter wholly within
the realm of State law, be true, we see nothing
to prevent any State from making birth within
its own limits one of the qualifications for ex
ercising the oleotive franchise, and thus ex
eluding from the ballot-box all persons born
in any, of the other States. Something in this
line of operations was attempted in some of
the late Rebel States shortly after the war, by
making an excessive term of residence within
their State necessary to citizenship, with the
avowed object of excluding Northern settlers
from participation in the politic al power of
their communities.
The abolition of slavery rendered it proper
that all distinctions of political rights in this
country baaed upon color should be oblite
rated. Probably the shortest and surest way
to reach that end would be bf an amendment
to the Constitution such as that proposed by
Senator Wilson. Suoh an amendment might
also save us from fearful convulsions in the
future. It is the avowed purpose of the mis
ealled conservatives in the South, if they ever
got power in their hands, to disfranchise the
colored citizens. Such an outrage could hardly
fail to produce a civil convulsion of the most
earful character, terminating, probably, in a
terrible war of races, and proving the utter
ruin of the South. To guard against such a
contingency, the rule of civil and political
equality should be incorporated in the Consti
tution itself. The question would then be for
ever set ' at rest. It could no longer form a
political issue, and parties and the country
itself could turn their attention to subieots
which more properly fall within the domain of
politics.
Wk hope that before Alexandre Duma Us starts
out from Paris on his trip to the Uulted Slates, where
be comes to entertain us with a 'series of confer,
ences,' he will take the trouble to spend a few min
utes, or even, If necessary, a lew hours, in learning
the English language. lie declared In a note which
he wrote a lew weeks ago, that he was 'ashamed to
be obliged to confess that I do not know a single word
of the language of Shakespeare.' Dumas probably
has a theory that all respectable Americans are able
to speak French, and that, It any are not, they will
learn It as soon as tbey hear tbat be is going to honor
tbeir country by a visit. Now. we do not wish to
Have him rest undrr any mlnnpprehenslon on this
matter. In Dew York, it is true, a large proportion
of oar Intelligent population know French, or, as we
might say, know tbe 'language of Dumas.' Bui in
Boston, Kcuport, Philadelphia. Obe.rlin and other places
which he propose to visit ojtsr he gels throtiffh with Sew
York, it is different. In these cities few of the natives
are capable of speaking k rencn, or at least such
French as Dumas could understand, though we
have no doubt thousands would set to work learning
It if they realized that there was no other way of en
joying bis conferences." New York Time.
It may be very true, as the New York
Timet states, that we provincial countrymen
do not understand French as the "metropoli
tans" do. If it is true, it is probably due to
the faot stated by the Tribune of the same date
as the Times, which says that New York city
has 77,475 foreign-born (principally Irish)
voters to 51,500 natives. Probably the supe
rior intelligence of the Irish and the opportu
nities they had abroad of acquiring French
will explain the difference, if any exists; for
we doubt if the natives of New York are, as a
whole, much better linguists than those of
Philadelphia. The superiority rests with the
foreign element.
Pauperism in England ako Wales. A re
turn appeared in England in June relating to
poor-rates and pauperism, which completes
the series for the parochial year 1866-67. In
England and Wales the last week of the
parochial year was higher than the last week
of the turlstmas quarter by to.Vbb paupers.
TV, ,a ir, nuir.f f ,liuf nn ha last. rlv
u , .u..u w - -j
of the last week of March were in low.
059,903; 18G6, 907,201; 1807, 982,477. The
paupers in 18C7, as compared with those in
186G, have increased 75,276, or 8 3 per cent.;
but compared with 180'5, the increase was
22,574, or 2-4 per cent. According to the re
turns for the month of March, the number of
paupers in London was in 1865, 105,988;
18Gb. 107,864; 1867, 147,756. In 1867 the in
crease in tne
of 1866, was 39,
comparison with
or d-4 per cent
A Beae Rampant. A few days ago an ex
citing scene occurred at the Zoological Gar
dens at Regent's Park. A countryman, while
looking at the bears, accidentally dropped his
hat into the pit, and, to recover it, had the
foolhardiness to descend the pit. As soon as
he got to the bottom he was seized by one of
the boars, and immediately two others came
from their cave and also seized him, and began
dragging him 'towards it. Some stioks were
thrown by the excited lookers-on, but one of
the keepers went to the man's assistance, and
succeeded in setting him free.
Gab Compahibs Nearly half the share
holders in the metropolitan gas cotnpauies in
London are women, clergymen, or trustees.
The total number of the shareholders is shown
to be 8075; 2217 are women, 345 are clergy
men, and 1409 hold on trust or joint aooounts.
These persons received last year generally ten
per ceut. dividend on the stock held by them
in these companies.
" Hcngabt. Tlie Vienna Gazette publishes
an autograph letter of the Kmperor Francis
Joseph, dated at Burta, ordering that all ob
jects pledged at the Mont-de-Pi6t6 of Pesth, on
which not more than one llorin has been lent,
shall be restored to the owners without any
charge. .
paupers, as compared witn tuose ,
... . ,
892, or 37 per cent.; but on a
1805, the mcrease was 41,70s,
Fno libit BsKwrnts. Aooordtng to a Parlia
mentary return there were in the United
Kingdom in September, 1866, 2575 brewers,
95,743 licensed victuallers, 44,607 persons
who pold beer to be drunk on the premises,
and 8063 not to be drunk on the premises.' Of
persons who brewed their own beer there
were 21,327 licensed victuallers, sO 18 who sold
beer to be drunk on the premises, and 533 who
sold beer not to be drunk on the premises.
The brewers eonsumed 38,469,582 bushels of
malt; the licensed victuallers 8.64H.805 bushels;
tbe persons who sold beer to be drunk on the
premises 3,601,034, and the others 377,288
bushels. There were 62,281,222 bushels of
malt made in the year ending the 31st of De
cember, 18615. and the duty charged thereon
was 7,089,247 17s. 6d. The total amount
paid by 37,766 brewers for their licenses during
the year ending the 30th of Septembor, 1866,
was 31)4,721 18a. Cd.
SPECIAL NOTICES.
3T" GKOCKIW AND BUTCflElta' RE-v-iy
FRiHt u A'l'uHS CIimi and good; warranted
cold, and ir-e from wext. or no sale.
Ao. UAKKIrt lC'I.KHAM HOT-AIR RAN'JK,
wt lob Is to admirably constructed that the conking ot
a tamliy, Instead ot being a labor. Is really a pleaaaut
exercise.
Also, the NRW MAOLTOCOO HEATER, which I
cheap, powerful In giving beat, and Having in coal.
B.M. HABKW CO.,
tlSm4p So. 1m Norm NINTH Street.
tT- NEWSPAPER ADVBRTISINQ.-JOY,
COE A CO. A genu for the "TiLMwrK "
and Newspaper Frees of tbe whole country, have KB.
MOVED from FIFTH and CHESNUT Streets to No
144 a SIXTH Street second door above WALNUT.
OrriCBs:-No. 144 B. SIXTH Street, Philadelphia;
Till BUNK BUILDINGS, New York. TSUtfP
BT cOUTIIERN FAMINE RELIEF
t' Fl'ND.-The COMMITTEE ON AMU-tK-Sl
KNTh report the following statement of Receipts
and Expenditures:
RECEIPTS, ,
CONATIONS.
Freulug Telegraph....
Oauote W.CtilMla
Philadelphia inquirer.
,1297
two
, loo DO
, H7t
60 (Ml
. 6071)
, 61M
4'2-lS
, 215
. M'bO
, 2li Utl
, 2) 00
, liTS
, rj-so
, 10-00
, 1000
6 1
, a 7
e vening nuiK'im
North American..............
l fafl A
The I'refts ..
Sunday Transcript.........
Mi inlay 'iimef
Sunday Mercury ...
City I Urn..u .......,
Prele Pr-se
Philadelphia Ueniokrat,
Ledger Jon Olllce.............
Bui day Dispatch..
George Hood
Evening Hi
K veiling Her !(!..,
1702-37
PIlOCFEDS OY
Conibinath n Matinees of Arch, Cbesnu.
and Wmnut Hlret-l Theatres fl371-O0
Mt-uUelsRohn C'oocerl..... .... ..... 470 01
Mii'iiucrcbor Concert 4itj 7i
Parpa-Bilgnoll Concert - 8-1417
H. 1 box, Auiorlcan Tbeaire (net)......... ViA'M
Mrs. John Drew, tor tlokelH... loo 00
Signor illlt (net) 81 'On
liiibe nun cuius (nei) 73110
bliakt-hpeare Association.
6110
. 28STrU
7-4R
KXPENDITURE3.
Advertising ..i
, 1 2.14-8.1
B75W
.. S47-O0
.. 11)9 SO
.. 107 JO
Kent 01 Academy .............
Orcoeftra, MendeluHubu.... .......
StKKeKxpeii8B...
Bills. Souveulr
Blance....... ...........
..11.21)4
3C47'48
Bulanre paid over to James M. Aertsen, Trea
surer im-84
JAMES PAGK. Chairman of Committee.
A ttent p. K. ABEL. Secretary.
July IS, 1867. ' It
PHILADELPHIA AND READING
RAILROAD COMPANY OFFICE. No. 227
B. FOURTH Street.
Philadklphia, June 26, 1867. '
DIVIDEND NOTICE.
Tb Transfer books ot ibis Company will be closed
ou SATURDAY, the 6th of July next, and be re
opened on TUESDAY. July lfl. ItOT.
A Dividend of FIVE PER CENT has been declared
on tbe Prelerred and Common Stock.olearof Natloual
and stale Taxes, payable In casb on and after toe
lMh or July next to the holders thereof, as they ah U
eland registered on the books of the Company on tbe
6th of July next.
All orders tor Dividends must be wltnemed and
Stamped. S. BRADFORD,
it)6w Treasurer.
OFFICE OP SECOND AND THIRD
STUEET8 PASSENOEK RAILWAY COil-
PANY, No. 21o3 FKANKFOllD Koad.
Ph'Lhklihia, July 10, 1887.
At a meeting of the Board of Ulrcctor of the Second
and Third htreets Passenger Rallwav Company, held
this aay, a dividend of FIVE PI4lt CENT, on the
capital btock of tt e Company was declared, payable
alter tbe luib Instant, fieeot tax.
The transfer books will be closed from the 12th to
the 19th liiHtant, both days inclusive.
7 11 tbstuul E. MITCHELL tXJRNF.LL, Treasurer.
OFFICE OF THE INSURANCE COM
PANY OP NOiiTU AMERICA. No. Xl
WALNUT Street,
Philadelphia, July 8, 1867.
The Directors have this day declared a Seml-anuual
Dividend of blX PER CENT., payable on demand,
free ot taxes.
7 8 2W CHARLES RLATT. Secretary.
PATENT
PIPE FILLER
TOBACCO POUCH!!!
The Patent Pipe Filler Tobacco Pouch to used with
out dipping tbe pipe in the pouch, aud without wane.
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For sale everywhere. 7 lit lm4p
ASK YOUR FAMILY PHYSICIAN
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SOLD UNIVERSALLY BY DRUflOlSTS.
tSar HOLLOWAY'S PILLS AND OINT
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and his companions sought in vain for the faoled
water of rejuvenescence ainld the orange groves and
. flowery nieuas ot Fiorina. Jl was llt lor Holloway
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MUTUAL, tula OUIoe. ' 7 1 It
arnoMACKKit a co9 cklb-
TIi . . I nt. .tl i ii a No4inknivlMnid SUD
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lnj Warerooma, No. 1IM CHESSTJT Bt.
AN UNPRECEDENTED TBICMPFL
-A B1JS DESPATCH, PaKIS, KJtPOdl-
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tmaltlne I'm Kirht Ooi.D Usual of MKBIT far the
hitihr.it droi t of iwrfrrUtm in prand. f.iuire, Otvl up.
rf;M Hcnoi and tw most valunhle inventions, showing
thr nrra1r.it pmfrrrts in the rnnstnirU'm of I'iann fttrt,
v tth the strtrngrst Indorsement of the bUFBKtf Imxaa-
NATIONAL, JVBY."
In addition to tbe above. Btelnway A Sons have re
ceived tbe following Cable despatch:
Paris. July 4.
"The (Treat Ror.lete des Beaux Arts, ol Paris, nave,
after a careml examination of all the muslral Instru
ments exbiolted at the Pari fxposlilon, awarded to
hTKiNWAV A boNS. of New York, thrlr Graml 'IYti
m on in I Mnial, for greatest superiority and novelty cf
cw'strurtUm m IHanos,"
or sale by P4p
TtLAMllM llRO. MO.IO tniWtT WT.
fjj STUCK & CO. PIANOS7
HAINES BROTHERS' TIANOS,
AND
RASOII & HAfflUN CABIRET ORGANS.
Thee beautiful Instruments constantly Increase In
popularity, aud are to be found In splendid assort
ment at
J. E. GOULD'S,
tSatuthti 8ETEXTU AND CHES I VT,
$2 00 BOOKS FOR 50 CEXTJ,
i
AID LOTS Or OTIMR
BOOKS AT HALF PRICE,
AT '
PETERSONS',
No. 3 0 0 CHESNUT St.
Having a largo, surplus stock of some book on
hand, w have decided to close them out at onoe at
Betall, at tbe above rates, lu place ot sending tbem to
auction; so all persons In want ot cheap reading mat
tcr, had better call and select one or more books at
at once, at the Cheap Bookselling and Puollablng
House of
' T. B.' PETERSON & BROTHERS,
It4p MO. XO CHESNUT ITBEET,
All Fooks published are for sale by us the moment
tbey are lxsued trotn tbe prctis, at Publishers' prlcea.
L
RING'S NEW PUBLICATIONS.
' Miss Thnckeray'a lait story, BEAUTY AND THE
BEAKT, a charming hour's reading that cujta only
IS cents.' '.-."
, A WEEK IN A FRENCH COUNTRY-HOCdK
by Mrs. Bar toils, a sister of Fanny Kemble Butler, la
one of the brightest stories written. '
THE ROUA PA-IS, or Englishmen la the High
lands, Is a very remarkable novel tbat has won great
praise from every reader.
. DIXIE COOKERY la a thoroughly practical cook,
book tor every housekeeper North or South, and
every one will want It, as from It choice and novel
dishes can be produced. 6a cents Is all 11 costs, and lis
aale promise to be very large.
LORiNJ'B RAILWAY LIBRARY NOVELS are
the best seleotion mad for the wants ot travellers,
and tbey appreciate them It w can Judge by the num
bers sold by the Philadelphia booksellers.
JLOltlNQ, Publisher,
It BOSTON. '
0RTII MISSOURI RAILROAD
FIRST MORTGAGE
SEVEN PER CENT. BONDS.
Having purchased 600,000 of the FIRST MORT
GAGE COUPON BONDS OF THE NORTH MIS
SOURI RAILROAD COMPANY, BEARING SEVEN
PER CENT INTEREST, having 80 years to run, we
are now prepared to sell the same at the low late of
And tbe accrued interest from this date, Hi us paying
tbe Investor over 8 per cent. Interest, which la paya
ble eml-annnally.
This Loan Is secured by a First Mortgage noon the
Company's Itailroa, 171 mile a I ready constructed
and In running oraer, and 61 miles aodltl nal to ou
completed by ibe nrst of October next, extending from
tbe aif of fcu Louis into Aormeru and Central Mis
souri. full particulars will be given on application to
either oi tbe undersigned.
E. W. CLARKE A CO.
JAY COiIHE CO,
DBEXEIi dr. CO.
P. B. Parties holding other securities, and wishing
to change tbem tor this Loan, caa do so at the market
rat. T IS un
fj c n O V A L.
THE UNION NATIONAL BANK
HAS REMOVED TO THE '
N.E. C'OBXEK Ol' THIBD AND ASCII STH.,
Where tbey will be located during the erection of
theli NEW BANKING HOUSE. .
n. c. ncatsEuiAir,
21fmwlmrp CASHIER.
TINE HAMS,
SMOKED BEEF,
TONGVJM,
MHOHED siLHON,
PICED HALHO.V,
AHINEM, nONKLESM AUD IN TOJ1A.
TOES,
I
TOTTED MEATS, ;
PBAIUIE GAME IN OBEAT VAUIK tY,
FIN KMT QUALITY OLIVE Oil.,
t
And every variety of CnOICE FAMILY GUOCE-
RIEB, by the package or retail.
SIMON C0LT0N & CLARK tf,
i
S.W.tOH. BROAD AND WALKPT ttTM,,
14 tnthB4p PHILADELPHIA.
rfCrS TAKE THE PrMILTTTO
tt H. "H1 ' r-r' TK R POINT GARDENS,
lii muni Unllithllul place lor recreation and enloy
ment In the vlcluity of Uiecliy. Boats leave foot ol
SOUTH btreet daily every tbree-qnaxters of an
hour. 1 Suip
jp P. W. B. THE PET OK TAB HOUSEHOLD1.
Pa RIB' PATENTPWINlOW BOWER, j
Every l.ouekeper should have tbem to their shot
ters; tbey hupentede tbe old-nmbloned ribbons. Price.
Tweuty-llve ceuts per pair, bold every where, and'
wlioiraale and reiell by
a r . ra two,
Na, 17 B. THIRD btreet,-
lu iui
The union pacific
RAILROAD COMPANY.
THEIR FIBST MORTGAGE BONDS
AS AN INVESTMENT.
Tbe rapid progress ol tbe Union Pacific Railroad,
bow building west fit m Omaha, Nebraska, and torus
lng. with Its western connections, an unbroken line
cross the continent, attracts attention to tbe valae
of tbe First Mortgage Bonds which tbe Company new
ofler to the public. Tbe first question asked by prudee
Investors Is, "Are these bonds securer Next, "Ar
they a profitable Investment?" To reply In brier:
First. The early completion of the whole great Una
to tbePacllio Is ai certain as any future business event
can be. Tbe Government grant of over twenty mil
lion acres of land and fifty mllliou dollars in Its owa
bonds practically guarantees It, One-fourth of the
work la already done, and tbe track continues to be
laid at tbe rate ot two miles a day. '
Second. The Union Par I Ho Railroad bonds are Issued
upon what promises to be on of the most p roll table
llufi ot railroad In tbe country. .For many year it
moil be tbe only line connecting tbe A llautto and Pa
cific: and being without competition, It caa maintain,
remunerative rates,
Third. 378 miles ot this road are finished, and fully
equipped with depots, locomotives, cars, etc., and two
trains are dally running aach way. The materials tor
the remaining 141 miles to the eastern base of the
Rocky Mountains are on hand, and It la under oon
tract to be done In September. '
Fourth, Tbe net earnlugs of the sections already
finished are several times greater tban the gold In
terest upon the First Mortgage bonds upon suoh sec
tions, and if not another mile of the road were built,
the part already completed would cot only pay Inte
rest and expenses, but be profitable to tbe Company.
Fifth. The Union Paclho Railroad bonds can be la
sued only as tbe road progresss, and therefore cast
never be in the market unless they represent a bona
fide property.
Blxth. Tbeir amount la strictly limited by law te a
sum equal to what Is granted by tbe United States
Government, and for which It takes a second lien aa .
Its security. This amount upon tbe first 417 miles
west from Omaha la only fic.oio per m ile.
Seventh. The faot that the Uulted States Govern
ment considers a second lien npon the road a good lo
ves.meutt and tbat some of tue shrewdest railroad
builders of tbe country have already paid In five mil
lion dollars upon tbe stock (which la to them a third
lien), may well inspire confidence in a first Hen.
Eighth. Although It Is not claimed tbat therecan be
any better securities thau Government, there are
parties who consul er a first mortgage upon suoh a
property as this the very best security In the world,
and who sell their Governmeuta to reinvest In these
bonds, thus securing a greater interest.
Ninth. As the Union P.clllc Railroad bonds are
offered for the present at 96 cents on tbe dollar and
accrued Interest, they are the cheapest security to
tbe market, being IS per cent, leas than United Btatea
slocks. . . , . - ,
Tenth, At the current rale of premium oa gold
they pay . . .. : . ,
OVER NINE PER CENT. INTEREST.
The dally subscriptions are already large, and tbey
wll continue to be received in Philadelphia by '
THE TRADESMEN'S NATIONAL BANKi
DE HAVEN & BROTHER.
WILLIAM PAINTER & CO. .
TOWNbEND WHELEN & CO.
J. E. LEWAR3 & CO. . . '
In Wilmington. Del., by '
B. R. ROBINbON fc CO.
And In New York by r
CONTINENTAL NATIONAL BANK.
CLARK, DODGE & CO., Bankers.
JOHN J. CISCO A rtON, Bankers.
And by BANKS AND BANKERS generally through
out the United States, of whom maps and descriptive
pamphlets may be obtained. They will also be sent
by mall from tbe Company's offloe, No. 24 NASSAU
Street, New York, on application. Subscribers wll
select tbeir own Agents, In whom they have confi
dence, who alone will be responsible .to tbem for the
safe delivery of tbe Bonds.
JOllX J. CISCO, TREASURER,
718 tuthset
NEW YORK.
THE UNDERSIQU ED
PURCHASED THE
HAVH
NEW SIX PER CENT.
REGISTERED L.OAN
OP TBI i
LEHIGH COAL AND NAVIGA
TION COMPANY, -
' DUE IN 18B7. '
INTEREST PAYABLE QUARTERLY,
FREE or UNITED MTATEM AND MTATB
TAXES,
AND OFFER IT FOB MALE AT THR LOff
PRICE OP
NINETY-TWO,
.... i
AND ACCRUED INTEREST FROM MAY
This LOAM la secured by a first mortgage on
Company's Railroad, constructed and to be
airucted, extending from the southern boundary
the borough of Maucb Chunk to tbe Delaware River
at Easton, lnoluulng their bridge across the saldrlver
now In process ol construction, together wfth all the
Company's rights, libertines, and franchises appertain,
lug te the said Railroad and Bridge,
Copies ot the mortguge may be had on apptlcatloa
at the oflice of the Company, or o either of the undar
signed. DBEXEIi CO,
E. W. CLARK CO.
JAY CtlOUE A CO. i im
VT. II. NRW BOLD, SON AEBTSEJC.
. . f
RATIONAL
HAKK CF THE REPUBLIC,
609 and 611 CHESNUT 8TBEET,
PHILADELPHIA.
CAPITAL.
-.1,000,004)
DIRECTORS.
Jmienh T. Tl.liAtf
William Ervlen,
Osgood Wemh,
I.aibn Hilles,
I.-u. liowji.ml.Jr.,
feHumei A. Biotihaai,
Julward B. time.
WM. H. SHAWN, President. , -
JMe Vushur of the antral Xfatust SmM,
JOS. P. MUMFORD Cashier,
Hi J.ate of the ihiUlctphUs National Bank
ncSJ" sale
pa nted: Kits, hot and colA ?Ei2 ewi? J.".pr.e?. d
...... iui, oy 110 feet. l'phm au. ?
2L,..l - Apply wiK!"-t. !,?,,m-
vMi uiiuiii.,1, t ... . .t - - - - , lovetLiiiu 11 1 u fi u..,a
r - r-wMiuii, Apply at Wl
house. W QllbiiVe Street.
"A
iV
81
OJ2L9TnE house NO