srmiT of the niEss. BDITOBIAL OPWIOFS OF THE LIAPWO JOURNALS PPOB OCBREHT TOPICS COMPILED EVKKT DAT FOB mn ET E.NINO TELKORAPH. Xb New Proclamation of War. From the N. Y. Tribune. It is not by compromise that tbia war of prin ciples can be ended. No Johnson Convention, BO cringing of weak Republicans, can avail. We are not of those who are content now that General Thomas has gone to New Orleans, and assure the people that the country is Bafe flO long 83 Grant remains in the Cabinet. These appointments majr strengthen our hopes, but do not remove our doubts, for against them Stands the all-important fact that Sheridan has been removed. This is the proof that the country is not safo; that Mr. Johnson, undis mayed by all his hair-breadth escapes from im peachment, has the boldness to defy the peo ple ud to resolutely carry out his purpose of breaking down the reconstruction polioy of Congress. Sheridan was to the President the embodiment of a principle. In Sheridan he saw the great executive of radicalism the whole legislation and spirit of Congress Bummed up in the action of a military com mander. Personal enmity was not the impulse of the President. Sheridan was to him the Republican idea made tangible, and he struck that idea down. Can we delude ourselves with the belief that the blow falls on Sheridan alone, and not upon us f Can we take Thomas' appointment as an atonement for Sheridan's disgrace f Can we suppose for a moment that Andrew Johnson, having successfully defied the Republican party, having deliberately Struck it full in the face, will rest satisfied with his triumph ? We do not thus mistake him or his policy. We understand the removal of Sheridan as a proclamation of war, and are xeady to accept the issue. Our Washington correspondent asserts that the polioy of removing all Generals in the Rebel States who do not take Mr. Johnson's views of reconstruction will be carried out, and we can see no reason to doubt it. The Presidential attack upon Sheridan is already begun upon Sickles and Pope, and the National Intelligencer, the President's adjutant, has drawn up the order for their removal, and it only needs to be signed. That will be done at the right time, if Sickles and Pope persist, as those upright soldiers will, in executing the Reconstruction laws as Congress intended. The reputation of the pure and gallant Howard is undermined by slanders, and be is to be mustered out. Why should these- officers not be removed? What difficulty does Mr. Johnson fear, having tri umphed over Sheridan f He has taken out the keystone of the arch, and may pull down the rest of it at his leisure. In the President's new course there is more courage and ability than the people had supposed him to possess. It was a master-stroke to bring Grant into his Cabinet. The appointment of Thomas was an excellent plan to enable such papers as the Times to divert the attention of the country from the infamy of the removal of Sheridan. It was equally shrewd to send him to fight the Indians, that all journals of the kind might fall into raptures to see the hero of Five Forks once more at the head of an army. Nor is Mr. Johnson less adroit in resolving to reor ganize his Cabinet in any event it is perfectly Safe, for the new one cannot easily be more distasteful to the people than the old. These preparations are ominous of change, and not of change for the better. Andrew Johnson does not retract; no sane mau can hope that a movement which begins with the removal of Sheridan can mean repentance or remorse. The change is from the defensive to the offensive, and Mr. Johnson marshals his desperate forces to open attack upon Congress. Jt may reconstruct the laws, but he will recon struct the machinery by which they are ad ministered. We believe that the President desires to so far modify his policy that it may obtain the support of the conservative Re publicans, and to dazzle with the robbery of great names, or the betrayal of splendid repu tations, the perception of the people. He will use any weapon that comes to hand. He throws the fame of Thomas as a veil over the down fall of loyalty in Louisiana, and makes the General of the Army a sentinel at the door of the White House. But beneath and beyond all this parade the keen eyes of the people detect , the swiftly moving, unrelenting foe pushing onward to the attack. They know in Andrew Johnson a man resolved to prevent the reconstruction of the South upon the principles they have laid down through Con gress; they know that his purpose is to replace the Rebel States in the Union without guar antees or pledges, free to repudiate hereafter their surrender of Rebel principles; they know that when he disgraced Sheridan he insulted them. They perfectly understand that he ttneans war, and no longer one of defensive Strategy, but a deliberate and combined ag gression. Tha Grant Correspondence. From the N. Y. Timet. The leading Democratio journal of Massa chusetts, the Boston Post, publishes as from Its Washington correspondent the following Statement: "There Is great anxiety manifested here to get at the correspondence belweeu tbe Presi dent and General Grunt on the removal of General Sheridan. As I mated last evening, General Grant, sent to Mr. Jouuhou a written note protesting against acy change In Hlierl daa's department, and tattling at length tils reasons. To this tue President returned a tart reply, with a reiteration of his order. The correspondence wait far from being a mere friendly interchange of views, aa will fully Appear when it comea to be published. Specu lation la rife aa to tbe object of General Grant In putting a written protest on file, thus risk ing a charge of Insubordination. " This version of the affair is much nearer the truth than that which our neighbor, the Herald, attempted to pass off as genuine. According to the Herald General Grant's protest against the removal of Sheridan was 'written in a Terr friendly way," a harmless, pleasant formality, signifying nothing. The same Teraoious chronicler described the President's response as "pretty full, and much in the Same friendly style as Grant's." The object of this manipulation of the subject is evident. It is to Johnsonize Grant's utterances to re present his differences with the President as trivial, instead of rough and radical, as they tasIIv are. Bv this treatment it is hoped Mr. Johnson may acquire the benefit of Grant's alleged support, while Grant may be compro inised In the opinion of those who look to him andard-iie&rer of Coneress. r.ir own information is. that the Herald's eynopBis of the correspondence is imaginative aid untrue, while the brief characterization of it by the Boston Post comes very near the Vvrv version which attributes to General Grant a feeble and merely formal re monstrance against the action of the Exeou tin. A Aafl liim pross inlustice. We are as 14 V Q uww m- c . - . thoritr that we cannot doubt, that, ia opposing the President's decision, lie THE DAILY" EVENING TELEGRAPH PHILADELPHIA, SATURDAY, employed stronger language than is ordinarily supposed to be compatible with the respectful tone of offloial intercourse. Instead of being the kind, easy, friendly letters of whioh the public have been told, they were on both aides coldly official. Nor was this the case only in reference to the removal of Sheridan. In con nection with Mr. Stanton's suspension. Gen eral Grant was equally plain-spoken and em phatic He told the President that only an astute lawyer could discover reasons to sus tain the proceeding, and that no reason could be given which the country would accept as satinfaotory. This conflict of statement on a matter con cerning which the country is entitled to know the whole truth, illustrates the necessity for an early publication of the correspondence be tween General Grant aud the President in re gard both to Mr. Stanton and General Sheri dan. We can understand the motive of Mr. Johnson in withholding these letters from the country. Doubtless he realizes the advantage to be derived from the bare supposition that Grant is, to some extent, on his side. But any advantage of this nature will be too brief in its duration to atone for the odium which the President incurs by his apparent connec tion with the disingenuous statements which have found their way into newspapers. Three months at the farthest will drag from him the documents he now keeps secret. Why wait for the compulsory call of Congress? Why at tempt to evade the responsibility for a "policy" which is altogether his own, and the conse quences of which he should be content to carry? Let the people read these Grant Johnson letters without delay. Napoleon' New Hove. From the N. Y. JVf&une. It has for some time been expected that the common interests of France and Austria in three of the great European questions the Eastern, the German, and the Roman would ultimately lead to a formal alliance of the two powers. The acoounts of the interview of the two Emperors and their Prime Ministers at Salzburg, leave butlittle doubt that whatever obstacles may thus far have stood in the way of such a treaty have been removed, and that an understanding ha3 been effected. The an nouncement by the official papers of Austria and France that the Conference at Salzburg has secured for Europe a long term of peace is a poor blind; while the cable despatch in yes terday's issue that a defensive alliance has been concluded, and that an agreement, both in the German and Eastern questions, has been arrived at, is, without doubt, nearer the truth, even should it be entirely based on sup position. It is stated in the cable despatch that Aus tria will organize the South German States into a Confederation, and will place herself at the head of the Confederation. Such a measure has long been the avowed wish of the Govern ments of both Austria and France, and it is by no means improbable that this is the most important point of the agreement between the two Empirors. If the report should turn out to be true, it would be a fact of the gravest importance. The South German Governments have taken all the initiatory steps for a union with Prussia. They have bound themselves by a military treaty to place, in case of war, their entire army under the chief command of Prussia. They have subse quently agreed to a new Custom Union treaty between them and Prussia which provides for the election of a (Justom Union Parliament. This gradual advance towards the unity of all Germany has been met, it seems, with the hearty approval of the majority of the South German people. If Austria and France will try to enforce the Austrian demand, they must not only arrest this progress towards German unity, but must undo all that has thus far been accomplished in the promotion of the Union scheme. It is a move much more defiant than the French demand, in 18 b' (J, for the cession of a few German towns, or the proposed purchase of Luxembourg. No details are given as regards the agree ment said to have been arrived at between France and Austria in the Eastern question. But it will be difficult for these States to hit upon any plan that will not be distasteful to Russia, and it is therefore most likely that an alliance between France and Austria will be a direct incentive to an alliance between Prussia and Russia. It may be that negotiations have been going on with Berlin and St. Petersburg to represent the move of Austria and Franoe as inoffensive and harmless; but it is not likely that either Prussia or Russia will view it in that light. According to present appearances, the Franco-Austrian allianoe is the germ of a very serious complication. We shall probably soon learn more of it. Rumored Reorganization oft hi Cabinet. From the N. Y. Herald. The National Intelligencer, a paper in which the coming events of President Johnson's policy are supposed to cast their shadows be fore, takes a strong position in favor of a com plete reorganization of the Cabinet, on the ground that as at present constituted it lacks the unity of sentiment and harmony of action essential to a vigorous and successful admin istration. The article is the more significant inasmuch as its substance was announced by the telegraph in a semi-official manner in ad vance of its publication. We are, there fore, bound to accept it as an authorized exposition of the President's sentiments, and a foreshadowing of the course he intends to pursue. In this view it becomes evident that Mr. Johnson has resolved to make a fair and dis tinct issue with the radical party on the ques tion of establishing negro supremacy in all the unreconstructed States a policy that would place the five hundred thousaud eman cipated slaves of the South in the position formerly held by their three hundred thou sand owners, and give them for half a century to come a controlling influence in the affairs of the national Government. While Seward and other members of the present Cabinet have willingly acted as the bottle-holders of the President in his small fights with Congress, their whole antecedents link them indissolu bly with the negro, and it is very likely that they may be unwilling to follow Johnson the whole length of his opposition to the negro supremacy programme of the radioal leaders. In such a case no other course is left open to the President than to complete the work he has commenced, and send Seward, MoCullocb, and the rest to follow Stanton and Sheridan. And what next ? Can this be the end of the new movement ? Will Mr. Johnson be satis fied with a simple change of persons in his Cabinet ? If so, he would only stultify him self, and place himself in a far worse position than he ocoupied before. Congress, upon re assembling in November, would refuse to con firm his suspensions, place Stanton and the rest back again in their old positions, and un doubtedly carry out their long-threatened policy of impeachment. No; having gone thus far, President Johnson is bound to take the only step that can effenluallr Mock the game of the radicals- to lamia his proclama tion of universal pardon to evory man en gaged in the Rebellion, and thus restore to every white-man in the South all his civil rights as a citizen of the United States. He has the . full constitutional power for such action. 1I has already granted a large number of pardons, and if he can pardon one offender he can pardon thousands. The disfranchising clauses of the Reconstruc tion acts of Congress would then become im perative, as the Executive pardon would obli terate the offense and remove all penalties imposed as a punishment therefor. With all the white men of the South restored by citi zenship, and all the negroes enfranchised, the woik of reconstruction would be complete, and one or the other would prevail, according to their legitimate relative strength. This would make the issue distinct between the Administration and the radicals; on the one Bide, general amnesty and universal suffrage; on the other, negro supremacy and a national government controlled by a coalition of the Puritan and the nigger. The publication of this semi-official pronun ciamento by the Washington organ makes one point clear: the present members of the Cabi net can no longer retain their positions with honor or self-respect. They now know that Mr. Johnson is anxious to be rid of them, aud they are bound to tender him their resigna tions in a body and at once. They occupy a different position to that held by Mr. Stauton. While the late Secretary of War was an avowed enemy of the President, they were his professed friends. While Stanton was in open opposition to his policy, they have been its cheerful supporters. They can have neither the desire nor the right to embarrass him, and we therefore recommend them all to draw their last month's pay, put on their hats, walk quietly out of their offices, and accept the role of private citizens with a good grace. Labor Congresses and Questions. From the World. We have given the proceedings, so far as they have reached us, of the Labor Congress now in session in Chicago, and also a condensa tion by the London Economist of the official reports of the British Ministers and Consuls of the Trade Unions and Cooperative Societies in various European countries. From the addresses of the President and Corresponding Secretary of the Chicago Labor Congress we learn that the main objects of the assemblage, the things to be attained, are the following: The formation of labor unions; the establish- Hshment of district labor unions among the blacks, "so that they shall be instructed in the dignity of labor, and hence be unwilling to compete to the injury of their white breth ren;" a stand at every point "against the encroachments of capital;" the establishment of a journal expressly to advance and advocate the objects of this movement; the enactment of an eight-hour law in every State; a Con gressional eight-hour law for Government clerks and all employes on the publio works; the election of Congressmen who are favorable to all these projects; and introducing the whole matter into politics, especially "making political action available in the next Presiden tial campaign." Now, nearly all this is sheer nonsense, which might be summed up in a resolution to "make a fuss generally," resulting, after much money-spending, loss of time, and gene ral agitation and speech-making, in the unre munerative returns which "making a fuss" would bring. Unless the labor unions are more effective than they are in their present crude and imperfect form, the further forma tions of such associations is unadvisable and useless. The establishment of distinctive labor unions among the blacks is likely to be lost sight of so long as labor is a mere hand-to-mouth living and individual interest, as it is to those Southern negroes who are seeking employment, or are permitted to do so un trammelled by the Freedmen's Bureau; and it is difficult to see the precise connection be tween "instructing negroes in the dignity of labor" and "hence" making them "unwilling to compete to the injury of their white brethren." It is best, on the whole, to desig nate this as superlative nonsense, lest the radical papers swarm like hornets about the Labor Congress, and sting them for their jealousy and proscription of the colored race. Taking a stand "against the encroachments of capital" is only a suggestion that labor should bite its own nose off. Capital is not the enemy, it is the father, friend, patron, the very life of labor, and labor in its turn makes capital. Hence the great and only lesson to be learned and enunciated by the Labor Con gress, in its present session, is that there should be peace, not war, between capital and labor, and that labor should harmonize and cooperate with capital. Indeed, in all the "soarings after the indefinite and divings after the unfathomable" manifest in the re port of the Corresponding Secretary, there is a gleam of common sense in the frank admis sion that "it is certain labor can in no way make itself independent of capital but by cooperation." Unquestionably, because co operative labor at once becomes capital itself'; and if the Labor Congress would advocate co operative associations, and ignore strikes aud eight-hour schemes and attempts to mix the peculiar measures of thi3 assemblage with the politioal issues of the day, capital and labor and the country generally might be positively benefited by the proceedings and suggestions of this congress. The effort to involve political parties in these labor questions will certainly come to naught, and disastrously, or with no good results, to the great mass of laborers, because inevitably the leaders of the great political parties will only promise much, and then use the agents and representatives of the labor movement for their own political purposes. The absurdity of establishing an "organ," a special journal, to advocate the objects of the Labor Congress, is shown in the mournful admission of the Secretary that no less than four suoh organs have miserably failed within the year for want of support. Laboring men and mechanics, like all other men, want a neu)-paper, not an "organ;" and if the plans proposed by the Labor Congress are subjects of publio Interest, and are of value to the labor interest, they will not want hundreds of able advocates in the journals of the day. We have so freely and frequently expressed our opinions about the eight-hour movement, that we do not care to dwell upon the subject now. tour States have enacted an eigni-uuui law, but we have yet to learn that the hours of labor have been changed in any of these States; and it will be a long time before we expect to hear that any man has succeeded in getting ten hours' pay for eight hours' work The suggestion that Congress should establish by law eight hours as a day's work for all classes of thepaid servants of the Government, excites a smile when we consider that the thousands of department clerks and Govern ment officials work only from 10 A. M. to 3 P. M., with an hour out for lunoh, say four hours a day, while soldiers and sailors may be on duty from eighteen to twenty-four hours. The latter might favor an eight-Lour law, but the four and five hour men would be likely to object. ; , In this connection we turn to the trade unions, combinations for the purpose of in fluencing wages, and coalitions for the sake of organizing strikes in foreign countries. In Russia, Portugal, Denmark, Sweden, and Sicily, these things are almost unknown. In France, in Austria, and in Prussia they are summarily put down by force, and the leading Tenders are severely punished. But in Great Britain these strikes aud combinations are not only frequent and formidable, but to a degree they are successful in gaining the concessions, or favors, or "rights" they claim. But only to a degree, because the effort, vague and indefinite itself, grasps at something equally intangible and indefinite. Labor de mand something.and forthwith throws away a week's wages and gets nothing. But this groping in the dark will lead, by-and-by, to daylight. There will be eventually abroad and here and everywhere a thorough under standing and complete harmony of capital and labor. Combinations and coalitions, other than those looking to the cooperation of labor and a just division of the profits of labor, and strikes and political agitation, and attempts to regulate by law the hours of labor, will all fail to benefit the cause of labor; and the Congress now sitting in Chicago may advise and aivo cate what schemes it will, but events will fchow the justice of our conclusions. The Labor Congress deolares war against capital. when its real mission in the interests of labor is one of harmony and peace. i-JNANOIAL. THE ; UNION PACIFIC RAILROAD THE FIRST MORTGAGE BONDS, INTEREST, SIX PlIl CENT. IN GOLD, Are Offered for the present at NINETY CEN TS ON THE DOLLAR, and Accrued Interest at Six Per Cent, in Currency from July 1. Tbe Company would state that their work continues to be pushed forwaid with great rapidity, and 425 Miles W est from Omaha are Now In Operation, And stocked with locomotives, cars, and all tbe Bp ptirteoauces or a 11 rst-cla.su road. The amount already paid In by stockholders of tbe Company Is (5,000,000. The aid received from the United Slates Govern ment in constructing this portion or 425 miles Is: 1. A Donation of 12 800 acres of adjacent lutlflH In lllO IlkllA Mill! r 111 I , ....... vuluable). amounting to-- 5,410,000 acres z. u. n. oix i-er . eai. currency interest Bonds, which are a second Hen, at the rale of (m.ioo to the mile, amounting, lor 42o miles, to Tbeamountof tbeCompany's own First Mortgage Bonds on 42a miles Is (6,300,000 8,800,000 It will be seen that, exclusive of the land grant, the First Mortgage Bonds represent only about one-third ol the value of tbe property on which they are secured. The Company is also restrained by Its Charter from Issuing Its bonds except as the work progresses, and to thc name amount on the varlout sections at are Issued by tlie Oovermnent. The mortgage which secures the bondholders la made to Hon. E. D. Morgan, U. S. Hena tor from New York, and Uou.Oakes Ames, Member of the U. S. Bouse ot Representatives from Massachu setts, as Trustees, who alone can Issue the Bonds to the Company, and who are responsible for their Issue lu strict accordance with tbe terms of the law. A statement of the earnings fur the last quarter will be published In detail at an early day; but the accounts are already sullictently balanced to show that the net amouut Is much greater than the gold interest on the Bonds that can be issued ou the length of road ope rated. It should be remembered that these earnings are only upon a way business in a new and undeveloped country, and are no index of the vast traffic that must follow the completion of the whole Hue to tbe Paclnc in 1870. These facts are only intended to show that these Bonds are strictly pne of the safest as well as one of the most prcli table securities, and are iully entitled to the confidence of the public. The Company make no appeal to the public to purchase its Bonds, as tbe daily subscriptions are large, and fully equal to their wauts. Many parlies are taking advantage of the present high price of Government stocks to exchange for these Bonds, which are over is per cent, cheaper, and, at ibe current rate or premium on gold, pay Over Nine Per Cent. Interest. Subscriptions will be received In Philadelphia by THK TRADESMEN'S NATIONAL BANK DK HAVEN & BROTHER. WILLIAM PAINTER & CO.. TOWNSEND WHELAN fc CO.. J. E. LEWARS & CO., F. bTEEB. In Wilmington, Delaware, by B. It. ROBINSON & CO., JOHN M CLEAR fc bON. And iu New York at the Company's Office, No. 20 Nassau Street, and by the CONTINENTAL NATIONAL BANK, No. 7 Nassau street. CLARK, DODtiE & CO.. BANKERS No. 61 WALL street. JOHN J. CISCO & SON, BAN EE K. No. 33 v ALL Street And by BANKS AND BANKERS generally through' out the UuiieU States, of wiioru uias and descriptive pamphlets may be obtained. , JOHN J. CISCO, TBEANCBEB. NEW YORK. August 15, 18C7. 8 iiO tuthsSt JSq-ATIONAL iiAIVK OF THE KEPUCLIC, 809 and 811 CIIESNUT STREET, PHILADELPHIA, CAPITAL.. .....91,00O,00a DIRECTORS. Joseph T. Bailey, Nathan Hillea, ben. Kowluud. Jr., Samuel A. Bixpham, sdward H. orna. William Ervlen, Osgood Weish, Frederick A, Hoyt, Wm. H. Khawu. WM. Jtt. BHAWN, President, LaU Oashier of the Central National Bank JOB. P. MUMFORD Cashier, 1 1U have ot the Philadelphia National Bank PARTIES HOLDING GOVERNMENT SECURITIES For Investment may now realize handsome profit by converting them into THE UNION PACIFIC RAILROAD FIRST MORTGAGE BONDS Which carry tbe same Interest, viz., BIX PER CENT. IN GOLD. Tbe difference la your favor to-day, August 14, Is as follows: For B-20s or 1802 ws pay pin-li on each thousand. Vor b-lm of ls4 we pay fius ui on eaca thousaud. For 6-xi of In we pay on eacn thousand. For 6-2US of July we pay tiao'lSon each thousand. For lsMs we pay I'iiu iS ou eacn thousand. For HM( we pay (118 U on each thousand. For vans, Sd series, we pay tlso HI en each thousand. For 7'Ww. Hd series, we pay 1174111 on each thouaaud. Subject to slight variations Iroiu day to day. W. PAIBfTKR & CO. I SPECIAL AGENTS OF THE COMPANY, " No. M 6. THIRD Street.' AUGUST 21, 1867. 'OlA-Mye f'WsIciesJ THE LARGEST -AND BEST STOCK OF" " FINE OLD RYE W H 18 IC I E G IN THE LAND IS NOW POSSESSED BY " ' HENRY B. IIANNIS & CO,. Nos. 218 and 220 SOUTH FE0NT STREET, WHO OFFER THE SAME TO THE TRADE IN LOTS ON TERT ADVANTAGEOUS TERNS. Their tock of Rjr Whiskies, IK extant, st run through the various present date. Liberal contracts mad ror Iota to arrive at Pennsylvania Railroad Denoa. ICrrlrsson Llna V barf, or at Ilonded Warehouses, aa partita imav elect. r H FINANCIAL. JE7 CTATE LOAN. THE NEW SIX PER CENT STATE LOAN, Free from all State, County, and Municipal Taxation Will bef ornlsbed In rams to suit, on applica tion to either of the undersigned;- JAY COOHJ3 dk CO DBEZEIi A CO K. W. CLsBH A CO. T S 2m4p JJARMSBUIIG, JUNE 29, 1867, TO THE HOLDERS OF TUB LOANS or TBI COMMONWEALTH OF PENNSYLVANIA DUE JULY 1, 1868. THE COMMISSIONERS OF THE SINKING FUND WILL RECEIVE PROPOSALS UNTIL SEPTEMBER 3, 186T, FOR THE REDEMP TION OF ONE MILLION OF DOLLARS OF THE Loans ef this Commonwealth DUE JULY 1, 1868. Holders will address their proposals to the Commissioners of the Sinking Fond, Harris burg, Pennsylvania, and endorsed "PROPO SALS FOR THE REDEMPTION OF LOANS OF 1868." r BAN CIS JORDAN, SECRETARY OF STATE. JOIIN F. nABTKANFT, AUDITOR-GENERAL. WILLIAM. II. KEMBLE, 7 2tnthst9 STATE TREASURER. BANKING HOUSE OF JayCoqke&iQ). 112 and 114, So. THIRD ST. PHILAP'A. Dealers in all Government Seourltiea, OLD B-SO WANTED IN EXCHANGE FOR KEW.' A L BEBAL DIFFERENCE ALLOWED. Compound Interest Kotea Wanted, IKTF.BEAT ALLOWED ON DEPOSITS. Collections made. Stocks bought and sold on ConuniMiLou. Bpeolal business aocommodauons reserved for ladles. rvusm DOVD, comprises all the favorite br..4. mouths of lbOS.'GO, and of this year, an tl m FINANCIAL THE UNDERSIGNED HA.VE rCBCHABKS TUB NEW SIX PER CENT. REGISTERED LOAN1 OP THI LEHIGH COAL AND NAVIGA TION COMPANY, Dl'E IN 1897. INTEBEST PAYABLE 41CABTERLY, FBEE OF UNITED KTATES AND STATS TAXES, AMD OFFEB IT FOB SALE AT TIIE LOW FBICE OF NINETY-TWO, AMD ACCBI7ED INTEBEST FBOH AC43CST 1, This LOAN la secured by a first mortfacs on tbs Company's Railroad, constructed and to bs oon strncted, extending from tbe southern boundary of theborouBhof Mancn Chunk to the Delaware Ivor at Easton, Including their bridge across the sal driver now in process of construction, together with all the Company's rights, liberties,, and franchises appertain, tog te the said Railroad and Bridge. Copies ot the mortgage may be had on application at the office of the Company, or to either of the under signed. DBEXEt A CO. E. W. CLABK CO. JAY COOKE A CO. IMtf W. H. NEWBOLD.SON A AEBTSEH NORTH MISSOURI RAILROAD FIRST MORTGAGE SEVEN PER CENT. BONDS. Having purchased 9000,000 ot the FIRST MOBT O AGE COUPON HOND8 OF THE NORTH MIS SOURI RAILROAD COMPANY, BEARING SEVEN PKB CENT INTEREST, having 80 years to run, we are now prepared to sell the same at the low late ot And the accrued lntereBtfrom this date, thus paying the Investor over 8 per cent, interest, whioh Is paya ble teml-annually. This Loan Is secured by a First Mortgage upon the Company's Railroad, 171 miles already constructed and lu running noer. and 62 miles additional to ba completed by ttieUmt ol October next, extending from tbe city ot bt, Louis Into Northern and Central Mis. lull particulars will be given on application to either of the undersigned. w-uwuon n E. W. CLABK A CO. JAY COUHE A CO. BBEXGli A CO. P. B. Parties holding other securltlta, and wishing to cnaoge them Jor inia Loan, can do so at the market rate. g is Un "E OFIJJH FOR SALE CRM PASSENGER RAILWAY BONDS, AT NINETY-ONE And Accrutd Inteicst from Jufj 1. Thse BONDS are K FIR8T-CLAS3 INVEST MENT, being secured by a FIRST MORTGAGE on tbe Road and Fianchises ot the Company, and bear Interest at the raie of SIX PER CENT. Free from all Taxes, City, State and t'ulted State For further lntormatlou cal at C T. YEKKES, JR., & CO., 8 81m No. 80 8. THIRD Street. 7 3-10s, ALL CONVERTED INTO FIVE-TWE IS XI ES. BONDS DELI VEBED IMMEDIATELY. DE HAVEN & BROTHER 10 23 rp o. eo S. THIBP STREET. U. O. GECURITIEO A SPECIALTY. SMITH, RANDOLPH & G0 . i BANKERS AND BROKERS, HO.I6S TUIttU NTjNO. I NASSAU ST., Ordert for Stocks and Cold executed in Phila dJi'hia and New York. - 1 IS
Significant historical Pennsylvania newspapers