THE DAILY EVENING TELEGUAl'11 PHILxVDELPIIIA, FRIDAY, DECEMBER 23, 1870.
sr xh.it or txxs mass.
Editorial Opinions of the Leading Journals
tponCurrent Topics Compiled Every
Day for the Evening Telegraph. .
TWO WAYS TO SOLVENCY.
From the A. Y. Tribune
In tbia day of wide-spread venality and of
(sweeping charges of corruption, it might be
deemed remarkable that no whisper of re
proach or suspicion baa sought to tarnish the
pood name of the Secretary of the Treasury.
Many are from time to time impelled to dis
sent from one or another of bis suggestions,
bnt no man has hinted a doubt of hw perlect
integrity. If there be opportunities afforded
by bi3 high position to enrich its holder, the
whole country knows that he has never sought
to profit by them. With millions subject to
Lis will, be will leave the office poorer than
be entered it. And bis unsparing hostility to
every form and shade of repudiation, bis un
besitating championship of early resumption,
and bis manful resistance to the demagogue
race for precedency in diminishing the revenue
and thus arresting the payment of the na
tional debt, have justly given him a strong
bold on the confidence and support of the
better portion of the American people.
When, therefore, we are constrained to
disRent from any feature of Mr. Boutwell's
policy, we do it with profound reluctance,
lint the close of a year affords an excellent
opportunity for a new departure; and we re
turn to the subject of the Treasury surplus
with an earnest hope that the Secretary may
be induced to review and revise his action on
this head.
Mr. Boutwell has now been for nearly
twenty-one months the manager of the
national finances; and he has meantime re
duced the national debt by little less than
two hundred millions of dollars. This is, so
far, excellent. But suppose he had paid still
faster, especially in the outset, when each
million of coin in the Treasury would have
bought considerably more bonds than it now
will bad converted all his surplus above ten
millions into bonds within the first quarter
of his administration, and had thenceforth
kept the Treasury as nearly empty as was
consistent with the prompt adjustment of
every liability, the debt must have been re
duced, ere this, at least one hundred millions
more than it has been, and the same less the
surplus ia the Treasury from ' ten to twenty
millions. The interest which has since ac
crued on the hundred millions that he might
Lave paid off at the outset mast be nearly or
quite ten millions; the saving in the price of
the bonds purchased could have b6en little
less. And what loss would have balanced
this large gain ?
Mr. Boutwell doubtless believes that the
coin in the Treasury facilitates and serves to
hasten a safe resumption. We regard it, on
the contrary, as the chief obstacle to an early
resumption. Let ns try to make this plains
Suppose there are in Cleveland or Toledo
two banks we will call them the First and
the Second National whereof each has a
capital of one million, with circulation and
deposits to the extent of one million and a
half. Their liabilities, immediate and ulti
mate, are therefore perfectly equal. One of
them has no specie to speak of; but it has
$100,000 in greenbacks, $100,000 on deposit
and subject to draft in New York, and the
rest of its assets in the shape of good drafts
drawn against produce shipped to this city,
whereof about $23,000 falls due daily for the
next hundred days.
This bank call it the First National in
our view, ia perfectly ready to resume
specie payment, though its specie is of no
account. The other which we have called
the Seoond National has $300,000 in coin
in its vaults, with $2000 in greenbacks to
gether equal to a third of its total liabilities,
except to its stockholders. But this bank
Las loaned its funds maiuly to its directors
and their cronies, who have invested them in
wild lands at the far West and grand houses
wherein they severally reside, and so are
utterly unable to pay their notes otherwtae
than by giving new ones, ibis bans is in
solvent, in spite of its plethorio vaults, and
will collapse under the first serious trial of
its strength.
All this, we assume, is tinth familiar to
men of business; yet it seems to ns ignored by
Mr. Boutwell in his hoarding policy.
If nobody else wanted gold for paper, the
Treasury holds far too much of it. Were it
to resume to-morrow, it would probably be
drained in a week, not because its stock of
coin is so slender, but because so many have
a profitable use for the article. . What is
needed to enable the Treasury to resume
without balk or trepidation is an abun
dance of gold in the hands of those who
need or can profitably use it, with a
security ready to be exchanged for th
Government demand obligations, which will
generally preferred to gold. Suppose, for
example, no one wanted gold to ship, while
an American oonsol ready to be issued
ranged one-half per cent, above par, with
thousands eager to invest in it. The Secre
tary gives notice, "I am ready to give coin
for greenbacks, or I will redeem them in the
American consol" how many would ask
for gold? and how much in all would they ask
for? Who does not know that the demand
for gold would be trifling ?
There is some specie really needed, evn
under suspension. When the supply is boun
tiful and the need slender, the demand is
easily met. But every dollar hoarded by the
Treasury diminishes the supply and in
creases the urgency of the demand. One
hundred millions dead in the Treasury in.
creases the premium on gold by diminishing
the supply in open market and increasing
the dimoulty of satisfying the demand.
Whatever the amount in the Treasury, be
yond ten millions at most, we insist that it
should be promptly and rigorously applied to
the reduction of the debt. Even if the trea
sury should be five to ten millions short
when a quarter's interest falls due, it could
borrow that sum for a few days from the
banks of this city they knowing full well
that it would return to their vaults so soon as
paid out of the Treasury. When we shall have
resumed, greenbacks will be taken as gold at
the custom houses, and thus our chief need
of coin obviated. Oar ouly peril is a vast
foreign demand; but a country that produoes
sixty to seventy millions of specie per annum
ought not to be easily broken. All we need
is to reduce our current purchases of other
nations to seven millions per week while we
sell tlitia to the value of ek;ht millions, and
resumption will come of itself. A foreign
demand might possibly drive us back iuto
suspension; but the domestic call for specie
never would, unless inflamed by senseless
Hoarding on tne part or the Treasury.
Can we be wrong in these views? If net,
Kbonld not the Secretary reconsider?
AMNESTY IN CONGRESS.
Frtm the V. Y. Hints.
Three different opinions on the subject of
au.iitity exist among the Republican mem
bers. There are, in the first place, opponents
of amnesty in all shapes, save that of excep
toinal legislation relating to speciflo cases.
Opposition from this quarter assumes that
the South is still not many degrees removed
from rebellion that hostility to the autho
rity of the Union prevails to an extent which
renders the continuance of disabilities indis
pensable. In the next place, there are advo
cates of complete amnesty, who bold that
the time has come when the last vestiges of
the Bebellion may safely be removed. In
support of this idea it is contended that re
construction has brought the South into the
full fellowship of the' Union, and that all
causes of animosity and irritation should
be obliterated. Among these causes, it is
alleged, the maintenance of disabilities is
especially prominent, and their total and
immediate removal is demanded as a poace
offering no less than as an act of justice.
Lastly, there is a class strong by reason of
intellect and character, which insists that
the ltepubhcan party is pledged to as perfect
a measure of amnesty as present circum
stances render expedient. The members of
this class object to unqualified amnesty as
undesirable, and to the postponement of all
amnesty as unjust, and contend that the
country is now prepared for a measure which
shall limit disabilities to a very small circle.
Mr. Bingham, who is a fair representative of
this class, declares that the proposition which
he and those who act with him aro prepared
to support would limit the operation of the
disabilities imposed under the fourteenth
amendment to some two hundred persons
only. That would bring us near enough to
general amnesty to satisfy the generous in
stincts of the people and fulfil the promise of
the Republican party, and at the same time
would provide for the exclusion from public
offices of those on whom mainly rests the
responsibility of organizing the Rebellion.
General Butler's bill, the immediate occa
sion of the debate in the House, doe3 not
commend itself to the favor of any of the
classes we have enumerated. It goes too far
for some not far enough for others. It con
cedes the desirableness of amnesty; yet is so
loaded down with exceptions as to render it a
blow in disguise. It makes amnesty a pre
text for interrupting the coarse of justice
for stepping into courts, staying suits in pro
gress, and denying to private citizens that
redress for wrongs which the Constitution
guarantees. So many influences are j ust now
at work, governing the action of individual
members, that it is not easy to say in advance
what combinations may not effect for Gene
ral Butler's plan.
The extremists on either side occupy very
weak ground. The unyielding opponents of
amnesty are as unwise as its uncompromising
champions. The middle course is that which
is most consistent with the public interests.
Mr. Bingham's amendment to General But
ler's bill relieves all on whom disabilities
are imposed by the fourteenth amendment,
except those who were officers of the United
States in 18G0 or 1861, and those who in vio
lation of that amendment have held office
since the first of June last. The effect
would be to render eligible for public service
all but an infinitesimal proportion of the
Southern people, the excepted persons being
those to whom the odium of encouraging and
organizing the Rebellion more particularly
attaches.
It is not easy to disoover in an amnesty
which is at once so nearly complete as to sat
isfy the national sense of justice, and so
carefully qualified as to exclude probable
causes of offense and evil, any real peril to
public interests. Sooner or later such a
measure must come why may it not be en
acted now ? The recent constitutional amend
ments have secured byond the reach of pro
bable accident the guarantees required to per
petuate the foundation of Southern recon
struction, and the national sentiment maybe
relied upon to take care of the rest. More
over, Republican majorities in the States
most familiar with disabilities have, one after
another, almost entirely abolished them. The
testimony thus supplied is conclusive as to
the undesirableness of the disabilities over
which the States most familiar with the work
ins of the Rebel spirit retained control. The
example thus afforded should not be without
effect upon the action or congress in refer
ence to the penalties which it alone can
abolish. .
THE FENWSYLVANIA RAILROAD COM
PANY AND NEW YORK.
From the Railroad Gazette.
In some respect the great system of rail
roads controlled by the Pennsylvania Com
pany, which reaches New Orleans in the
South, Denver in the West, and Daluth in
the North, has suffered from the same defect
as that of the "Joy roads: it has had no in
dependent outlet to New lork. it is true
that circumstances nave maae tnis defect less
important, for not only is the New Y'ork and
Philadelphia Railroad a short one, bnt ita
operations are confined entirely to New Jer
sey, and it has sought for no extensions
beyond the Delaware. Thus it has been ready
to transport traffic for anv and all parties who
might bring it to its line, obstinately and suc
cessfully opposing tne establishment of any
rival in New Jersey, and as obstinately re
fusing to become the rival of any line outside
of that State. So, if its requirements were
somewhat burdensome to the Pennsylvania
Company, they were no more so than they
were to an otner companies.
But whenever there has been competition
between the great lines from New York to
the West, the New Jersey Company, which
shared all the advantages of the traffic over
the Pennsylvania Railroad to New Y'ork, has
refused to bear anv part of the labor or ex
penso of securing it. When rates were re
duced to non-paying prices, the New Jersey
Company has insisted on receiving its regu
lar prices, and the dependent position of the
Pennsylvania Company has compelled it to
accede to its demands. The immense busi
ness which the Pennsylvania Companv haj
brought to the New Jersey road at Philadel
phia has not been obtained without eff ort
and expense. Agencies all over the,Union, a
costly system of advertising, favors to ship
pers and others who might influence tratfio.
have had much to do in attracting this im
mense business, and the entire expense has
been borne by tne Pennsylvania Company,
The New Jersey Company ha,s quietly taken
tne tramc ana us pay ior carrying it.
Last spring, when there was a contest as to
the capacity of tne different liQ68 for speed.
and the Pennsylvania Company deemed it
necessary to run a train between New York
and Boston at the fastest rate possible, the
New Jersey Company, which, by reason of
ita low grades, straight line, and perfect
track, is able to make as fast time as anv line
in America, refused to change its schedule
for this fast train, and required three hour
and a quarter for the ninety miles between
Philadelphia and New York for a train which
came over the mountains from Pittsburg to
Philadelphia at a more rapid rate. Yet
this company shared whatever advantage wa
to be gained by this fast traiu. So it has been
continually. WUaUvar alvaaUga was tj be
f ained for both roads, the Pennsylvania has
een compelled to pay for.
Thi-t dependence for a New York outlet has
led the lines through New Y'ork to assums an
advantage over the Pennsylvania routs ia all
negotiations between them. When the
observance of certain conditions was pro
posed, and the Pennsylvania had accepted
them for itself, but has said that it could not
bind the New Jersey road, Commodore Van
derbilt would say, "Then you haven't got a
line."
It is reasonable to suppose that the Penn
sylvania Company has not been contented
with the situation. But it was by no means
easy to improve it. An outlet further north,
by the "Allen town Line," may have been
within its reach, but to use this it must turn
its through traffic from its main line 10!
miles west of Philadelphia, and in so doing
take business away from instead of through
Philadelphia, which it was built to serve, and
which is a part owner of the railroad and
chooses three of the directors, wjnilo sixteen
out of seventeen of its directors are residents
of that city and many of them intimately in
terested in its prosperity, io obtain the hew
York and Philadelphia road seemed well nigh
impossible. It is the property of the "United
Companies of New Jersey, which own,
besides, the old Camden and Amboy R til
road, and five shorter New Jersey roads, hav
ing a mileage altogether of 1(!." miles. They
have a controlling interest in fourteen other
New Jersey railroads, from 2$ to G'.t miles
long, having in the aggregate a mileage of
(.0 miles. They lease two other railroads
with a total length of 01 miles. They own
also the Delaware and Raritan Canal, C."
miles long, one of the great coal carriers of
New. Jersey. They operate 410 miles of
railroad line, lOG of which has a double
track. At the end of last year its property
represented a capital of f r,;!,(i',):t,( -81. On
the stock, amounting to more than $17,000,
000, it has nsnally paid r per cent, dividends
fierui-annuallv.
It is cow reported that the Pennsylvania
Company hns leased this property, and will
opeiate it in connection with its other lines.
Reports of this kind are not to be accepted
on mere rumor, bnt in this case there are
circumstances which make it at least proba
ble that the report is true. The Pennsylva
nia Company has been making a general and
minute examination of the property such as
would enable it to understand its value and
bargain for it intelligently. According to
the report published in New lork, the Penn
sylvania Company is to have a permanent
lease of all the lines owned by the united
companies at a rental of $4,000,000, which is
ten per cent, upon a valuation of $40,000,000.
This is a very large sum to pay, but consider
ing the improvements which the united com
panies have been able to make while paying
ten per cent, dividends, it is perhaps not in
excess of the earnings or tne property here
tofore, while there is very little doubt that
the Pennsylvania Company, with its thou
sands of miles of road in the West and South,
can use the property to greater advantage
than its present owners.
SUMNER ON SAN DOMINGO.
From the A. Y. World.
Wednesday was a lively day in the Federal
Senate. Mr. Sumner wns twice on the floor,
and each time in a role winch is mildly cha
racterized by calling it sensational. Early
in the day lie rose to a personal explanation
in a matter which seemed big with a sup
pressed duel. The Patriot, the new Demo
cratic paper at Washington, printed, Wednes
day morning, a statement that an unsuccess
ful attempt to make peace between the Sena
tor and the President had just miscarried by
the stiff refusal of the President to entertain
any proffers towards a reconciliation. He said
that Sumner had traduced and belittled him
in executive sessions of the Senate, in the
street care, in bis lecturing tour in ihe West;
and that if he (Grant) were not restrained by
his official dignity he would
call Sumner to a personal ac
count. According to the same report
General Babcock, one of the President's
confidential pets, said that he would chastise
Sumner after the fashion of Brooks, if it
were not for his intimate relations which
might compromise the President. Mr. Sum
ner took a good way to advertise this article,
and supplemented the account with some
very piquant particulars. It seems that he
knew of the intended publication two or
three days ago. There was a great prelimi
nary flutter, and a running to and fro by
news-mongers and quidnuncs to procure a
contradiction to go forth with the article.
Mr. Sumner gave these busybodies no satis
faction, because he had determined to put
forth a denial in a more conspicuous and
authentic way. lie made it appear that there
is no colorable ground for a duel, and that
the muzzled threats of one had proceeded
upon a misapprehension of the facts. He
appealed to Senator Morton and Secretaries
Fish and Boutwell to support his assertion
that he bad not Bpoken in unbefitting terms
of the man whose great station enforces a
kind of deference that could not very well be
paid to his personal qualities. All which was
very well managed to put expectation on
tiptoe and draw attention upon the scathing
speech the Senator was intending to driver
against General Grant at a later hour of the
dav.
In due course of proceeding the San Do
mingo job came up, when Mr. Sumner sailed
into the debate like a frowning three-decker
with every gun loaded to the muzzle. Broad
side upon broadside he poured into the Presi
dent, accusing him of imitating Presidents
lierce, imcnanan, ana Andrew Johnson la
their worst and most fatal blunders. Sena
tor Morton, who was the President's next
friend on this occasion, kept trying to inter
pose a word, or a question, to shield his
patron rroin the cannonade; but to no pur
pose. Sumner refused to be interrupted,
fin1 snncalail tr fHa maaiilinn nftiiav t
tect him in his right to the fioor. lie told
Morton that if he was the President s friend.
he ought to go to him and dissuade him
from the stupendous folly he was striving to
comnjit. men, rising into a canamvs tnaora
strain, Mr. Sumner directed his speeoh to the
Vice-President in a thrilling apostrophe to
arrest General Grant on the edge of the fatal
frecipice. Go to him, said Sumner to Colfax
n substance, you who stand next in official
dignity and in the favor of the Republican
party, and w arn, entreat, expostulate, remon
strate, and labor with him, and try, if pos
sible, to save him, the party, the country, and
the national honor, from the terrible plunge
the misguided and stubborn man is bent on
making ! This is such an appeal as was never
before heard in the American Senate. It is
asking the mate of the ship to seize and bind
the captain and prevent his doing mischief,
General Grant s namesake, Ulysses of old.
caused himself to be bound to the mast by
bis shipmates in passing between Scvlla and
Charybdis lest the syrens should get the better
of him; but even he, wise as he was, would
not have brooked a mutiny by the crew to ac
complish the same laudable object.
This is war. Peace between Knoinsr and
Grant there can be tine after such a spsech
and explosion m the Senator has made.
If such advice as he gave the Vice-President
is needed, the President is too evidently
unfit to be at the helm; and as he is a man,
with at least the average sensibility to affront
and capacity for resentment, he can never
forgive Sumner for this pitiless onslaught.
So the breach widens between President
Grant and the leading statesmen of his party.
IS THE REPUBLICAN PARTY TO BREAK
. UP ?
From the X. Y. Sun. ,
Wide differences of opinion prevail in the
Republican party on cardinal measures,
namely, general amnesty, the repeal of the
income tax, a reduction of customs duties,
and the purchase of San Domingo; and these
particular questions stand as the representa
tives of others of the same class and of cog
nate olasses on which like differences exist.
Among those who dissent from the policy of
General Grant on these subjects, so far as he
can be said to have a policy, are some of the
most distinguished members of the party,
of whom Senators Trumbull, Sumner, and
Schurz are samples. And the debates in
both branches of Congress show that these
differences of opinion are of so radical and
irreconcilable a character that they cannot be
bridged over by temporary expedients.
What does all this mean, and what does it
portend? The record, standing, and charac
ter of the men who take this independent
position against the administration give as
surance that they are in earnest, and intend
either to compel it to cdme back to the old
Republican ground, or to go into the mino
rity in the country at large, and that by per
sisting General Grant must run the risk of
breaking the Republican party in pieces.
Shall the party then be ruined, or will it
make an effort worthy of the exigency to
save itself from destruction? There is not
a shadow of doubt that the leaders in this
resistance to General Grant, together with
the great body of the rank and hie who sym
pathize with them, are hostile to his reno rui
nation for the Presidency. If, then, those
Republicans who care more for principles
(ban men, and who sincerely desire the har
mony and continued supremacy of the party,
would open a door for obliterating differences
of opinion in its ranks, let them insist that
there be an authoritative declaration from
the proper quarter to the effect that under
no circumstances is General Grant to be a
candidate for re-election. This stumbling-
block removed, and the path is dear for a
reunion among Republicans on matters about
which thev are now at war. If this is not
done, the breach will, widen, and the party
fall a prey to its antagonists in the contest of
1872. Shall Grant or the Republican party
go under ? That is the question.
AN INDEPENDENT PHILADELPHIA
SCHEME.
Fvm the S. Y. Herald.
Philadelphia, it appears, has resolved to
establish an American line of Bteamers to
Liverpool, and the wiseheads and capitalists
of the coal and iron state nave combined
upon this question. A railroad company is
at the head of the movement, and the basis
of success, it seems, is placed upon the capa
city of the railroads to bring produce from
the West at lower freights than the New Y'ork
railroads are doing. Now, this is a question
of competition between the railroads of the
two States, and they will have a good deal to
say to the success of the new transatlan
tic line. That New York has no American
line of steamers running from this port to
Europe is a deplorable fact. It is more than
this it is a reproach to our spirit of enter
prise. If Philadelphia is fortunate enough to
establish a paying line, so much the better.
However, the scheme seems to be at present
to a certain extent inchoate. No company
has been organized, but at the same time
there seems to be considerable capital rea
lized by (subscription. The Pennsylvania
Railroad Company, who are the controlling
spirit?, subscribed four hundred thousand
dollars, and the Board of Trade contributed
on behalf of the merchants of the city half
a million dollars. It is proposed to build
four iron steamers of two thousand eight
hundred tons, two or them to be con
structed at Wilmington and two on the
Delaware somewhere contiguous to Phila
delphia.
AH this looks as if our provincial neigh
bors meant something practical. The funny
part of It is that the projectors or the scheme
are so determined that it shall be a Philadel
phia enterprise pure and simple that they
have resolved that the village or Iew York
shall have no hand in it. New Y'orkers, we
presume, cannot even bay stock in the com
pany when the company is formed; yet it is
not at all unlikely that New Y'ork capital will
take a band in, and a pretty full one, too,
if the enterprise carries any color of sacoesa
about it.
It is an excellent thing to see the prospect
of an American line of steamships, built in
our own ports and carrying our own flag,
sailing once again upon the Atlantic If this
enterprise succeeds the whole country may
well be proud of it. But what has New York
to say in the matter ? Is she going to play
the laggard lorever i .
SPECIAL. NOTICES.
...V- AMERICAN LIFE INSURANCE COM-
PANY, WALNUT Street, southeast corner of
ton rtn.
NOTICE. The Annual Meeting of the Stock
holders of this Company, for the election of Thirteen
Trustees to serve for ta ensuing year, will be held
at the (mice on MONDAY, January 8, 1971, between
10 A. M. and 18 0 clock noon.
12 si lot JOHN S. WILSON, Secretary.
OFFICE UNION MUTUAL INSURANCE
COMPANY, N. E. corner THIRD and WAL
NUT Streets.
Philadelphia, Dec. IT, 1970.
The Annual Meetinsr of the Stock and Strip-
holders of the Company, and the Annual Election
for Directors, will be held at the ofilce of the Com
pany at 12 o'clock M., on MONDAY, January 9, 1971.
i .1 , Tn I h 1 1 K7 II1I1C Uoiipatop.
OFFICE PHILADELPHIA AND TKEX-
TON RAILROAD COMPANY.
Philadilphia. Dec. 19. 1970.
The annual meeting of the Stockholders of, this
jno. tti bouia
on MONDAY.
lock P. M.. when
an election will be held for twelve Llrectors to serve
12 19 tJ . Assistant Secretary.
FAEMKKS' AM)
TinNAI. HANK.
MECHANICS' NA-
Philadelphia. December 8. 18T0.
The annual election for Directors of tnls Bank
viii i, hHirt at the BanklDK House on WEDNES
DAY, the 11th clay of January next, between the
hOUrS 01 11 O ClOCk A. m. onu i v t luv i . m.
12StjU W. RUSHfQN, Jr., Cashier,
Blrv COMMONWEALTH NATIONAL BANK.
PuiLADKLrHU. December 9, IS70.
The annual election for Directors of this Bank
.... . .. . . . . . I . i , 1 rrirojTiA V
Will be neill at inn vauiuig auuio uu iwmoL'a,
the 10th day of January next, between the hours of
11 o'clock A. 11. ana s o cum: r. m.
12 9 f to. tjio H. O. YOUNG, Cashier.
SOUTH WAR K NATIONAL BANK.
a" PHILADELPHIA. Dec. 10. 1S70.
The annual election for Directors will be held at
the Banking-house on TUESDAY. January 10, 1S71
between the hours of 10 o'clock A. M. aud 11
o'clock bl.
18 18 inwf t J 10 P. LAM B, Cashier.
Bt- JOUV1NS KID GI.OVB CLEANER
b n',1 druauUU and Unci rood dealers. Price fj
ceutsier Loitle. ltWmwfJ
SPECIAL NOTICES.
Qf PHILADELPHIA AND UK AD I NX RAIL
koad comfani , oracc no. 2si 5. fourth
Street.
Pbimpblphia, Nov. 30, 1970.
DIVIDEND NOTICE.
The Transfer Books of this Company will be clos
on Wednesday, the ltth.of December next, and r
opened on Tuesday, the loth of January, 1971.
A dividend of FIVE TEU CENT, has been de-
clared on the Preferred and Common .Stock, clear
of State tax, payable In cash on the STth of Decem
ber next to the holders thereof, as they shall ataa
registered on the books of the Company at the close
of business on the 14th of December. AIL payable
at this ofilce.
All orders for dividends must be witnessed and
stamped. s. BRADFORD,
HI 6w Treasurer.
jy- OFFICE OF THE PENNSYLVANIA
MA1LKUAU UUail'AINY.
PnaiDKLPnu, November!, 1S70."
NOTICE TO STOCKHOLDERS.
The Board of Directors have this day declared a
semi-annual dividend of FIVE PERCENT, on the
Capital Stock of the Company, clear of Nat ional and
State taxes, payable In cash, on or after November
80, 1970.
Blank powers of attorney for collecting dividends
can be had at the office of the company.
The office will be opened at 8 A. M. and closed at
8 P. M., from November 80 to December 8, for the
payment of dividends, and afterthat date from 0 A.
M. to 8 P. M. THOMAS T. FIRTH.
1112m Treasurer.
jgy- CAMBRIA IRON COMPANY. THE AN-
nual Meeting of the stockholder! of the Cambria
Iron Company will be held at their ofilce, No. B13
South FOURTH Street, Philadelphia, on TUESDAY,
the 17th day of January next, at 4 o'clock P. M.,
when an election will be held for seven directors to
serve for the ensuing year.
JOHN T. KILLE, Secretary.
Philadelphia, December IT, 1970. 13 IT im
PHILADELPHIA AND READING RAIL-
Street
Philadelphia, Dec. 13. 1870.
Notice Is hereby Riven to the Stockholders of this
Company that the annual meeting and election for
President, six Managers, Treasurer, and Secretary
will take place on the second MONDAY (9th) of
January next, at 12 M. WM. II. WEBB,
ia ia tjan secretary .
hS,y OFFICE BUCK MOUNTAIN COAL COM-
PANY, NO. 820 WALNUT Street.
PHILADELPHIA, Dec. 14. IStO.
The Board of Directors have declared a Dividend
of THREE PER CENT., clear of state tax, payable
on me xan inBi.
Traosfer Books will close on the 20th lost, and
reopen on the2Sth. F. H. THOTTEK,
I'i 14 wimut Treasurer.
OFFICE ST. NICHOLAS COAL COMPANY.
No. 205M WALNUT Street.
The Board of Directors of the St. Nicholas Coal
Company have this day declared a dividend of
THIRTY CENTS per share, clear of State tax, pay
able on January 8, i8ti. Tne transrer dooks will be
closed from December 21 to January 8, 1971.
it. Johnston, Treasurer.
Ph iladei.phia, December 21, 1870. 12 si 9t
Bfgy- CORN EXCHANGE NATIONAL BANK.
The Annual Election for thirteen Directors' of this
bank will be held at the Banking House, on TUES
DAY. January 10, lSii, between tne hours of 10
o'clock A. M. and 2 o'clock P. M.
H. P. SCHETKY,
12 0 ftu tjio cashier.
CHRISTMAS DINNER FOR THE POOR.
A Dinner will be givea to the Children of the
Sabbath and Day Schools of the BEDFORD STREET
MISSION, on CHRISTMAS DAY (Monday), at 18
o'clock, at the Mission-house, No. 619 BEDFORD
Street
Donations In Money, Poultry, Provisions, and
Clothing thankfully received by the undersigned.
Donations towards the erection of a Building on
the South street front of Lot earnestly solicited from
our Benevolent Citizens.
All friends of the Cause cordially invited.
Edmund S. Yard, No. 2(9 Spruce street
Jambs L. Bispham, No. 710 S. Second street.
Jacob II. Burdsall, No. 1121 Chesnut street.
Gkokgk BIillikek, No. 823 Arch street
Charles Spencer, No. T Bank street.
Oeokoe Perkinpine, No. DO N. Fourth street
Edmund A. Johns, No. 413 Arch street
W. H, Heisi.er, Seventh National Bauk, Fourth
and Market streets. 1 12 17 swtlif 4t
TEev. John D. Long, No. 619 Bedford street
RB- TURNERS UNIVKK8S li NEUR&LWA
PILL IS an UNFAILING REMEDY for Neu
ralgla Facialis. No form of Nervous Disease falls
to yield to its woncieriui power, tven in tne severest
cases of Chronic Neuralgia its use for a few days
affords the most astonishing relief, and rarely falls
to produce a complete and permanent cure. It con
tains no materials In the slightest degree Injurious.
It has the unquallUed approval of the best physi
cians. Thousands, in every part of the country,
gratefully acknowledge Its power to soothe the tor
lured nerves and restore the failing strength.
It Is sold by all dealers in drugs and medicines.
TURNER A CO., Proprietors,
9 29 DiwH No. 120 TREMONT St, Boston, Mass.
S NOTICE IS llEREui U1VBN THAT AN
annllcatlon will be made at the next meeting
of the Ueneral Assembly of the Commonwealth of
Pennsylvania ror tne incorporation or a liann, in
accordance with the laws of the Commonwealth, to
be entitled TUB IRON BaNK, to be located at Phi
ladelphia, with a capital of one hundred thousand
dollars, with the right to Increase the same to one
million dollars.
letT
. T. T.
T. T. T.
T. T. T.
T. T. T.
T. T. T.
T. T. T.
T. T. T.
TREGO'S TEABERRY TOOTHWASH.
Sold by all Drngplets.
8 10m NINTH AND FILBERT Sta., PhUada.
tW NOTICE 18 HEREBY GIVEN THAT AN
application will be made at the next meeting
of the General Assembly of the Commonwealth of
Pennsylvania for the Incorporation of a Bank, in ac
cordance wit n tne laws or tne (janimonweaitn, to
be entitled the amekiu&n icxuiiauk uanh,
to be located at Philadelphia, with a capital of two
hundred and fifty thousand dollars, with the right
to increase tne same to one million qoiiars.
BATCHELOB'S HAIR DYE. THIS SPLEN
did Hair Dve is the best In the world, the only
true and perfect Dye. Harmless Reliable Instan
taneous no disappointment no ridiculous tints
"Doe not contain Lead nor any VUaUa Poimrn to in
jure the Hair or Bgittem." Invigorates the liair ana
leaves it aort and beautiful : Black or Brown.
Sold by all Druggists and dealers. Applied at the
Factory, No. is BOND Street, New York. 14 itt mwi
sa- NOTICE W HEREBY GIVEN THAT AN
application will be made at the next meeting
or the General ASBemDiy oi me uommouweuim ui
Pennsylvania for the Incorporation of a Bank, In
accordance with the laws of the Commonwealth, to
be entitled THE KEYSTONE STATE BANK, to be
iu nti at PidiadelDhla. with a capital of two hun
dred and fifty thousand dollars, with the right
to iacrease the same to five hundred thousand
dollars.
FRENCH BAZAAR
w FOR TUB BENEFIT OF THE VICTIMS OF
T1TR WAR IN FRANCE.
To be held at CONCERT HALL, from December
the Hth to December the ttn, CHRISTMAS vj.
An aDDeal Is respectfully made to Philadelphia,
the State or Pennsylvania, aud all other States, to
contribute in gifts or money towards our Bazaar In
behalf of the Sufferers in France. The ladies In
rharse of tables will eratefullv receive any dona
tions made iu favor of the couutry of Lafaytttte aud
Kochambeau. ADELK piuut. rreaiaenu
H 8 if C JACOB, Secretary.
tSf NOTICE IS HEREBY GIVEN THAT AN
w application will be made at the next meeting
of the lncra! Assembly 0 the Commonwealth of
Pennsylvania for the incorporation of a Bauk, la
be entitled THE STATE OF PENNSYLVANIA
BANK, to be located at Philadelphia, with a capital
of five hundred thousand dollars, with the right to
ncreaae the same to tea uimuon aona.ru.
tS THE UNION FIRE EXTINGUISHER
COMPANY OP PHILADELPHIA
Mann fact are and sell the Improved, Portable Fire
KxtlBguUher. Always Reliable.
D. T. GAGS,
50 U Mo. IIS MA.KKKT St., General Agau
6PEOIAL NOTICES.
NOTICE IS HEREBY GIVEN THAT AN
application will be made at the next meetta
of the tieneral Asaembly of the Commonwealth of
Pennsylvania for the Incorporation of a Bank, in ac-4
corrtsnce with the laws of the Commonwealth, to b
entitled THE ANTIIKAC1TE BANK, to be located
at Philadelphia, with a capital of Ave hundred tha
sand dollars, with the right to Increase the same to
two million dollars.
gy- DR. F. 11. THOMAS, No. 911 WALNUT ST.,
formerly operator at the Colton Dental Rooms,
devotes his entire practice to extracting teeth with
out pain, with fresh nitrons oxide gas. 11 171
y- NOTICE IS HEREBY GIVEN THAT AN
application will be made at the next meeting
of the General Assembly of the Commonwealth of
Pennsylvania for the Incorporation of a Bank, la
accordance with the laws of the CornmonweaUh, to
be entitled THE NATIONAL BANK, to be located
at Philadelphia, with a capital of one hundred thou
sand dollars, with the right to Increase the same to
one million dollars.
WATOHEB. JEWELRY, ETC
Gifts) Gifts!! Gifts!!! Gifts!!!!
No. 56 Tt. EIGHTH Street.
Latest Styles
FASHIONABLE JEWELRY.
SOLID GOLD SETS (Pin and Drops', "
HANDSOME EAR DROPS,
HANDKERCHIEF UINOS, all styles,
WEDDING RINOS, NEAfj KINOS.
PEBBLE RINGS, CHILDREN' S RINGS, Etc,
LADIES' SETS (Pin and Drops), in solid Gold,
Australian Pebbles, Coral, W'hltby Jet, Black, etc.
iiKAi t.Lt.i t', unain rattern. nanasomeiy unasea
and Kuamclled, Black and U-old Striped, etc., etc.
OPERA CHAINS, all prices ; LE( NTIN' E CHAINS,
CHATELAINE CHAINS, NECK CHAINS, etc, etc.
BlIUlAIKii 8 11(1 ULXCWMt UUSU.M
PINS, with beautiful pebble Settlnirs. VEST
CHAINS, BOSOM STUDS, SCARF PINS, Etc
juim)-"-!, tieuoiiiK, ni'iii, muss Afiue, Diuuaai,
Amethyst, Pearl, etc., etc
SLEEVE BUTTONS, HANDKERCHIEF RINGS,
SOCIETY EMBLEMS, LOCKETS,MIARMS,
PENCILS, NECKLACES, ARMLETS,
and 1001 other fancy and useful articles.
P. S. CLOSING OUT, at less than cost, all our
cheap and low-priced Jewelry. Articles sold else
where for one dollar we are selling for 50 cents and
less.
12 20 4trp No. Mi N. EIGHTH Street.
"CHRISTMAS PRESENTS.
Watches,
Diamonds,
Jewelry, and
Silverware
In threat Variety.
A fine assortment of BAND and CHAIN BRACE
LETS, OPERA CHAINS, NECKLACES, Etc. Our
prices are unusually low.
LEWIS LAD0MUS & CO.,
No. 802 CHESNUT STREET,
13 16 tjl PHILADELPHIA.
TOW BR CLOCKS.
No. 22 NORTH SIXTH STREET,
Ageat for STEVENS' PATENT TOWER CLOCKS,
both Remontoir fc Graham Escapement, striking
boar only, or striking quarters, and repeating hour
on full chime.
Estimates furnished on application either person
ally orby mall. 6 8a
WILLI AM. B. WARNS A CO.,
Wholesale Dealers In
WATOHES, JEWELRY. AND ,
BJJlyl SILVER WARE,
Second floor of No. 638 CHESNUT Street,
& E. corner SEVENTH and CHESNUT Streets.
FIRE AND BURGLAR PROOF SAFE
MARVIN'S SAFES. ,
.. . .
The Sest Quality!
The Lowest Prices!
The Largest Assortment!
Fire-proof.
Burglar-oroof.
MARVIN'S CHROME IRON
8PHERICAL
JBurgla-ir Halo
Will resist all BURGLAR'S IMPLEMENTS for any
length of time. Please send for catalogue.
MARVIN & CO.,
EJo. 721 CHBSrJUT Street,
(MASONIC HALL,) -' PHIL ADSLPHI A.
865 Broadway, N. T. 108 Bank St., Cleveland, Ohio
A number of Second-hand Safes of dlfferea
makes and sizes, for sale VKHT LOW.
Safes, Machinery, etc.; moved and.holsted promptly
and carefully, at reasonable rates. 10 T rmwStn
LOOKING OLASSES. ETO.
jQESIBABLK AND ELEGANT GIFTS
TOR CHRISTMAS.
PICTURES of every character. Engrravinirs,
Chromos, etc. etc : New Moonlight Photographs;
Views In Southern India.
LOOKING-GLASSES.
SWISS CARVINGS, embracing almost every
thing, at moderate prices, rangiug from 50c. up
wards. Direct Importation from luterlaken. The
celebrated
ROGERS GROUPS,
Sole Agency. Two new subjects now ready.
PORTFOLIOS. EASELS. New Folio-stands,
with our excellent patent fastening.
EARLF.S' GALLERIES, open at a I' times, free.
No. 816 CHESNUT STREET. .
WHISKY, WINE, ETQ.
QAR8TAIR8 & MoCALL.
Ho. 120 Walnut and 21 Granite Sti
Brandies, Wines, Gin, Olivi Oil, EU,
WHOLKSAUR DKAXKBS IN . .
PURE RYE WHISKIES,
IU BOND AND TAX PAID. U Ipf
MILLINERY.
jyj R 8. R. DILLON,
NOS. SS3 AND 831 SOUTH STREET.
FANCY AND MOURNING MILLINERY, CRAPE
VEILS. .
Ladies' and Misses' Crape, Felt, Gimp, Hair, Satin,
Silk, Straw and Velvets, Hats and Bonnets, French
Flowers, Hat and Bonnet Frames, Capes, Laces,
Silks, Satins, Velvets, Ribbons, Sashes, Ornaments
aud all kinds of Millinery Oooda. - : 1
"TOnrFARNUlf 4X)T7COMMIS3ION MERJ
CI hAat .sdlMuafbotsrar o Oasteuk Tlakiajr. Ml
sis. M uaiwmiUi' iwwi raiixl.linna. sibst i
A