TIIE DAILr EVENING TELEGRAril PI1ILADELPITTA, WEDNESDAY, FEBRUARY 8, 1871.
srxixxT or Txxn run a a.
Editorial Opinion of the Leading Journal
upon Current Toplos-CempHed Every
Day for the Evening Telegraph,
A NEW TATII TO THE PACIFIC OCEN.
From the A'. .1". Tribune.
It is pleasant to note that, while Europe
trembles and quivers in the agonies of war
and threatened wars, our American people
are quietly pushing onr national enterprises
in every direction. Trie triumph of Ameri
can genins and skill in the development of
our country's resources forms an enviable re
cord in our national history. The building
of the present Tacifio Railway was not only
important and memorable, but has been a
gain to the Government. It has been esti
mated that the saving in transportation of
troops, mails, and war materials, and the
whole economy of the service, as com
pared with the clumsy and expensive
wagon and stage-coach methods, is great
enough to compensate the Government
for its subsidies and endowments in lands
and bonds. This does not take into acoount
the social and political advantages of con
nected railway communication between the
great commonwealths of the Atlantic and the
Pacific. Our tar-seeing philosophers, who
prophesy a division of the republic into minor
republics, make no account in their calcula
tions of the railways and telegraphs. There
are material and indissoluble bonds of union.
New York and San Francisco are as near in
point of time as New York and Brooklyn ,
and as accessible as Boston and Savannah in
the colonial days. Every road aoross the
continent is another artery in the life of the
Union.
For these reasons material as well as po
litical we are disposed to regard with a
special favor the enterprise which has already
been submitted to the people by Jay Cooke
A Co., and which is known as the Northern
Pacifio llailway. It iH not merely a railway
enterprise, for it has a national value, and
comes to ns with unusual support. Mr.
Cooke himself is so well known in America
and Europe from his success in the negotia
tion of our war bonds, that his name has a
prestige of uncommon value, and gives the
bends a new assurance, if such could be
needed, of their stability and solvency. It
seems a large sum to raise this hun
dred millions of dollars. It is no
more stupendous and impossible than it
was to place Mr. Chase's early loans, when
Wall street frowned upon our credit, and
compelled the Secretary to hunt for a pur
chaser at every sacrifice. We have means
enough to build this road and to spare, and
the duty of accomplishing it is national and
patriotic. The Northern Pacific as the
scheme is presented by Mr. Cooke, proposes
to rnn from Lake Superior to the Pacifio
Ocean. It will traverse, for two thousand
miles, Minnesota, Dakota, Montana, Idaho,
Oregon, and Washington. It is en
dowed with a land-grant of more than
fifty millions of acres the most impe
rial endowment ever bestowed upon any
enterprise. The character of these lands may
be easily inferred from our knowledge o the
country. America has no fairer and richer
acres than those of Montana and Idaho. It is
the country cf timber and minerals of wheat
bearing uores and streams. The temperature
is mild so mild that the roses grow late in
the winter in Oregon; the cattle roam over
the hills in winter without shelter, while we
read the other day that, while the snow had
stopped travel between Rochester and Buffalo,
there was a regatta on Lake Superior between
the champion clubs of Dululh and its neigh
boring town.
The land-grant alone of this railway, if the
lands be sold in the open market, acre by
acre, for their value to settlers, after the road
is constructed, would realize far more than
the cost of the road. We see what a land
grant of two and a half millions of acres in
Illinois did for the Illinois Central. Already,
that company has realized from its lands
some twenty-four millions of dollars, and,
before the whole grant is disposed of, the
amount will probably reach thirty millions.
It is not too much to estimate that a greater
part, if not all, ofthese lands of the Northern
Pacifio will be as valuable when they are put
into market as the prairie-lands of Illinois.
They are worthless without the railroad; with
it, they are of great value.
Regarding the Northern Pacifio as a na
tional and patriotic enterprise, full of promise
to the people, and opening these noble Terri
tories to settlement, and a great step in
our national progress, we wish Mr. Cooke
every success in his negotiation, and the
builders a speedy fulfillment of their grand
undertaking. We need this road. British
America wants it. The Dominion of the Ca
cadas and the Bed lliver will gravitate more
surely to annexation with the United States
if their highway to the Pacifio is upon Ame
rican soil. As an investment, the bond is
drawn with unusual care, guaranteeing the
fullest security to the holder, and becoming
an investment as safe as any now offered to
the people. And now let the road be built!
Let the people take hold and build it, and
assist Mr. Cooke in giving to the republio a
new and important element of peace, pros
perity, and union.
GENERAL GRANT AND TIIE TREASURY.
From the If. Y. UtraU.
Under the feeble, deplorable, and disas
trous administration of Buchanan the melan
choly though amusing exhibition was made to
congress of a message from the President
timidly advooating a protective tariff, in the
same bundle with the annual report from his
Treasury Secretary, Cobb, boldly demanding
the policy of free trade. The Southern oli
garchy had taken possession of the adminis
tration, had reduced the President to a mere
automaton, and unresistingly they carried
him, with the Government and the
country, into the yawning abyss of
the most sanguinary and stupendous
civil war in human history. There
was something of a similar Southern conspi
racy attempted under the administration of
stout old Andrew Jackson, but, "by the
Eternal," he stamped it out without cere
' mony. Mark the oontrast between the honor
and glory which belong to the name of Jack
Bon and the ignominious failure and collapse
of Buohanan. Of these two instructive ex
amples which is to be the guide of President
Grant the lightship provided for his safety,
or the false lantern of the wrecker luring him
Into the breakers on a lee shore ?
Is this an impertinent nuestion? We ti.inlr
not, but that, on the other band, it is Beison
, ' able and appropriate, considering the want
of aocord between General Grant and his
' Secretary of the Treasury on the financial
Policy Of the administration. For Atamnln
, It is well understood that the President
favors a general reduction of our taxes, and
the absolute repeal of the odious and super
fluous income tax, while his Secretary, iu
1 both bouses of Cocgress, is working like a
beaver to prevent any rednolion of the
taxes, and is especially active in urging the
necessity of the continuance of the
obnoxious income tax. Nor can his argu
ments be denied if his Treasury policy is to
be continued under existing laws his policy
of keeping on hand a surplus of gold of a
hundred millions or more, and paper equiva
lent to ten, twenty, or thirty additional mil
lions, while reducing the principal of the na
tional debt six, eight, ten, or twelve millions
a month. But just here comes in the vital
question to General Grant. Is this policy to
be continued ? Mr. Boutwell says yes; but the
American people say no! It 1b due to General
Grant to remember, as we do remember, that
the grand leading idea of his inaugural, a
rapid redemption of the national debt, was at
first well received by the people. They were
bo well pleased with his presentation of the
emallness of the debt compared with the
amazing resources and wealtn-producing
forces of the country, that they did not care
to look behind this charming exhibit of their
ability to rattle off the debt even at the rate
of two or three hundred millions a year with
out feeling it.
The tax-gatherer, however present every
where and with his severe exactions upon
everything, from the spoon which feeds the
baby, through all the incidents and aooidents
of life, to the shovel which fills the grand
father's grave, has spoiled this beautiful
conceit of paying off our national debt during
the living generation. It cannot be done
with justice to the living or the dead, and the
idea must be abandoned. In all the losses,
crosses, trials, self-denials, sacrifices, and
sufferings of our great war for the Union, and
in the grand and glorious revolution of uni
versal liberty and civil and political equality
established in the Government, we who now
bold the stage of aotion have done our share
for posterity, even if we do no more. They,
too the generations next to come must do
their duty, a duty which must be given them,
of meeting their share of this national debt,
as but a small price for the preoious inherit
ance which will be ours to give and theirs to
enjoy. This is the new idea of the
American people, and almost impercep
tibly it has spread itself all over the
land. General Grant is beginning so to un
derstand it; but his financial secretary has the
film of the old Bourbons over his eyes, and
he forgets nothing and learns nothing. Our
recent State elections and the convulsion
which has shaken and is Bhaking Europe to
its foundations have not in the least dis
turbed him in his programme of maintaining
our taxes in order to keep one hundred mil
lions of idle gold in the Treasury, and to
knock off one hundred millions a year from
the principal of our heavy debt.
We have bad enough of this folly. To per
sist in it, with all the lights before him, will
be the ruin of General Grant and his party,
and fruitful, we fear, of heavy disasters to
the country. But what would we have? Any
one may tear down our existing financial sys
tem as false and pernicious, but what would
we build up in its place? We would abolish
the notes of the national banks, upon whioh
we pay interest to the extent ot twenty mil
lions or more a year, and we would substi
tute legal-tenders bearing no interest, and thus
save this item of twenty odd millions. We
would issue a new description of bonds,bearing
tne interest, say ot 3 0i, or a cent a day on
the dollar, and furnish these bonds to the
national banks, if the present banking law is
to be retained, in lieu of the present bonds;
and we would make these bonds under cer
tain restrictions redeemable at every sub
treasury on sight. We would reduce the idle
gold in the Treasury to a reserved fund of
not more than twenty or thirty millions. We
would abolish the income tax absolutely, and
so far prune and cut away our other taxes of
the internal revenue and tariff schedules as
to reduce the Treasury receipts to a margin
not exceeding twenty-five millions beyond
the current expenses and liabilities of the
Government, including the interest on the
debt.
Under these changes in our financial sys
tem, with the honesty, economy, care, and
retrenchment so happily introduced by Gene
ral Grant, it would be very easy to satisfy
the bondholders on a reduced interest, while,
in cutting down our taxation on the plan
proposed to the extent of at least one hun
dred millions a year, all sections and all inte
rests sharing in the relief would all be thank
ful. But what do we see, even on this pro
position favored by the President
for the repeal of the income tax ?
The miserable trick of a constitutional
quibble between the two houses, which
reminds us of their game of thimble-rig
on the bill to abolish the franking pnvi
lege. We learn, too, that a member of the
Ways and Means Committee, interested in
the duty on salt, is threatened witn its repoai,
in the event of his desertion of Boutwell on
this income abomination. We have, then,
nothing to hope, financially, from the present
Congress, which expires on the 4th of Maroh.
It has neither the will nor the time even to
attempt the needful measures of relief sug
gested. But the new Congress, on the 4 th of
March, assembles close upon the heels of the
exit of this Congress, and here there will be a
fine opening for the President.
Let bim first get a Cabinet that is a unit
with the bead of the administration, and that
will have the confidence of the responsible
party in Congress in being mainly the work
of its bands in its appointment. Let General
Grant, then, in a speoial message to the new
Congress, define the urgent demands of the
country and the great necessities of the
people for a general reduction ot our taxes.
internal and external, and the folly of paying
twenty odd millions as subsidies to these
national banks, which it would be well to
save, and the folly and injustice of saddling
upon this generation the whole burden of
the national debt, and we have no doubt
that he will be baoked by both bouses.
fresh from the people, in the great
reforms suggested. We desire the suocess of
General Grant's administration, beoause in
the event of its being condemned as a failure
we know not what may follow. It was sup
posed that Andy Johnson spoke as a madman
in reoommending in bis last annual message
the policy of considering the national debt
settled and paid when the interest paid from
tne beginning shall be equal to the principal.
But Johnson had his advisers to this course.
and his followers in it have not diminished in
number during the last twelve months. In a
word, General Grant must brine about a re
duction of our taxes during the present vear.
or in the next year's eleotions be will be apt
io uuu mat ii m too late in tne general up
beaval of a political revolution.
TIIE CANONIZED BRIDGE-BURNERS.
From (A A. Y. World,
There are certain things whioh neoessity or
duty, or even policy, sometimes compels a
man to do which it is not pleasant to talk
about. We doubt much if our neighbor,
General Dix, cares to boast of having signed
the death-warrant of poor Beale on Gover
nor 'b Itland, or if the Pennsylvania IUrtranft
tbiiAs or talks complacently of putting the
i ope round Mrs. Surratt's nook. Sa when
Gertfral Sheridan burned the farm-homes tip
the Shenandoah he had the justification of a
peremptory order from his superior. It wm
bis boasting of it as a deed of glory thit
dnmnged bim. There were many other neces
sities of war, involving no moral wrong in
the actual perpetrator, which it is quite as
well to bury in oblivion, for they are not
pleasant subjects of meditation. To this
category of painful necessities belongs, etui
tiently, "bridge-burning." A bridge has
many peaceful, piotnresque associations con
nected with it; and yet it is conosded that a
bridge may be a military, and henoe mis
chievous, adjunct of great importance. Over
a bridge friendly neighbors greet eaoh other,
families go to their rural ckuroh, weddings
to the altar, the funeral passes to the country
graveyard, and the physician drives on his
errand of mercy. But, then, over the
bridge safely go infantry and artillery
and cavalry on errands of destruc
tion. The true soldier, who thinks of
possible retreat, as every soldier ought to,
never burns a bridge without a qualm, and, if
bis enemy is in front, rarely without a blush,
for it is a confession of weakness. When,
therefore, in the blessed days of restored
peace, we read ot bridge-burning, and
eFpeciaJJy by wholesale, it is with something,
if not of suffusion, certainly of sorrow, that
such things should ever have been. Not so
the paralytio parson who now misrepresents
in the Senate the State of Tennessee. He
thinks "bridge-burning" heroism of the
highest order, and being hanged for doing it
is the noblest martyrdom. Under his influ
ence the Senate has, within a day or two,
unanimously passed a bill to make liberal
compensation to the widow of a man a
foreigner too who, with others, burned
bridges without stint, in a line from Bristol
in Virginia to Chattanooga, and, being
cancLt, was canoed for doing bo. The
bridge-burner's name was Jaoob Ilarmon.
This bill was examined by no committee; its
preamble, which Senator Morton went out of
his way to pronounce a model, had in it more
than one recital historically false and defa
matory; and yet, to oblige Brownlow, it was
pa&ued without dissent. "All the bridges,"
it says, "in Last Tennessee, between the Vir
ginia and Alabama lines, a distance of 210
miles, were burned in the fall of 18G1, by
order of General McUlellan, who stipulated
these are the very words with certain promi
nent Union men, then refugees in Washing
ton," to do this secret work of destruction.
"Accordingly we again quote on the
night of the Cth of November, 18C1, pre
cisely at midnight, the bridges were all
fired. On its part the Government pledged
itself to follow up the burning of tie
bridges by the immediate occupation of the
country by the forces under General George
II. Thomas, then on the Tennessee border."
They "utterly failed" to do it, and the bridge
burners were caught and hanged. Here we
detect a fling at two gallant men one living
and one dead which we regret the Senate so
unanimoubly endorsed, but which leads us to
doubt the whole story, at least as to one of
tbem. General McClellan may have ordered
the bridges to be burned, and have good rea
sons for doing so; but Parson Brownlow and
the unanimous Senate do not convince us that
be did it in this style, or did it at all. The
bridges were burned simultaneously, show
ing there was elaborate prearrangement, on
the Gth or Gth of November, 18(51. MoClel
lan had then been nominally in command
exactly six days, being appointed on the 31st
of October; and we incline to think he was
actually in command a still shorter time. For
ourselves we do not believe that, with the
thousand things nearer at hand sharply press
ing upon the young soldier then, he had time
to baigain with the vagabond foreign refu
gees who were hanging about Washington,
or that having done so he would have left his
agents unprotected. It sounds much more,
with its intrigues and bargains and impo
tence, like a chapter of Cameronian history;
for this was, in time, coincident with his
reign. Cameron was turned out in Janu
ary, 18G2, and the advance into Ten
nessee was not till February; all which
tiiue Ilarmon and his confederates were left
to rebel mercy and were punished in squads.
For the sake of human nature we hope this is
not true. The words we have quoted are
from Brownlow's written speech, read for
mally by the clerk, while in the statu' ry
preamble the imputation is withdrawn and
the act attributed directly to "the Seorelary
at War" t. e. Cameron. It is this preamble
which charmed Mr. Morton, but which scan
dalized even Mr. Pomeroy, who desired it to
be stricken out, and whioh, among other
things, recites "that one Capt. David Fry did
recruit and enlist as a portion of the force
Jacob Ilarmon and his sons; that be (Fry,)
administered the oath to them, and there
being no Bible at hand he caused them
to place their bands on the Union flig
while he solemnly administered the oath to
be ever faithful and true to the Union," etc.
etc. ! Such is the trash whioh the Senate
makes part of its solemn statutes, and such
the precedent of improvident and reckless
expenditure of the publio money which they
furnish. There are other hideous and absurd
oddities in this case which our limits do not
permit us to notice; the mortgage
given to the lawyer whether rebel or not is
not said the foreclosure, the prospective liti
gation, of whioh Congress agrees to pay the
expense all this we pretermit, simply saying
in conclusion that, while within a month the
Senate (the debate being confined to radi
cals) hesitated long to pay a poor loyalist
whose bouse was destroyed by the Federal
engineers to make way for the range of ar
tillery at Fort Fillow or Paducah, they do not
pause a moment to pay the speculative
damages of these very equivocal bridge
burners, trying to make the job palatable
by flavoring it with slander on Democratic
soldiers.
TIIE TESTIMONIAL NUISANCE.
From the If. T. Times.
The best and the worst of men have this
much, at least, in common that they cannot
very easily dispense with the good opinion
of their fellows. We should imagine, for
example, that a deteoted thief would find the
publio execration, to which he is for a short
time exposed, to be about the severest part
of the ordeal to which he has to submit; and
we should suppose that one of the chief con
solations which liberty brings to him is the
prospect of looking forward to the undis
turbed friendship of a select circle,
where bis achievements obtain their legiti
mate meed of praise, and where the only
blot on his escutcheon consists in having
been found out. We can explain on no
other theory but this the late outburst of
sociability, fraternizing, and mutual admira
tion generally that has diversified the even
tenor of the career of the rank and file of the
cohorts of Tammany. These gentry have for
some time past been treated to an amount of
outspoken truth, under which, callous as they
are, they have shown unmistakable signs of
wincing. All the congenial obsourity under
which their tortuous wav are hidden has not
prevented sundrv eleanisof verv unoonaenlal
light from reaching them; and their indiffe
rence has been about as awkwardly assumed
as that of the pickpocket who should stolidly
thrust his bands into bis own pockets when
the bull's eye of the policeman bad just made
manifest their extraction from the pookets
of somebody else. By way of dissipating the
sneaking consciouseness of what very un
worthy personages they are, onr looal rulers
bave lately shown a quite unprecedented
fondness for each other's society and that of
their retainers. In such company obstrusive
publio opinion finds no entrance. The lords
of the feast can smile complacently on the
recipients of their bounty, and the lesser
rogues can find unalloyed pleasure in con
templating me great masters of the profes
sion, and in discussing the gradual stops that
led them to that proud eminence.
The festive gatherings of Tammany that
began very early in the season, and of
which Monday Lieut's levee by the "Boss" at
the Metropolitan is ,but one of an apparently
interminable series, nave been ple-isantly
varied by a perfeot eruption of testimonial
schemes. The more a reflective and discern
ing publio condemned, the more the sup
porters or the "Ring ' felt called on to ap
prove, and in proportion to the violence of
tne attack which the leaders have sustained,
so great must be the testimony afforded by
a servile crowd of followers, that, in their
eyes at least, their reputation is
exactly what it ought to be. The big
ger tne jod tne more numerous
the pickings, is a first principle among
the Tammany braves, great and small.
and the master minds that concoct gigantio
Bcbemes of plunder are eminently deserving
of the highest honors of the Pantheon. From
Tweed's statue to the "elaborately engrossed
resolutions" presented to Sheriff Brennan
when he emerged from the chrysalis stage of
Police Commissioner, there is an immense
interval both in comparative and actual esti
mate of merit. Unfortunately for the po
lice, however, the new Sheriff had a soul
above parchment. Testimonials of a more
substantial character had suddenly
become the rage, and he, as
one of the leading magnates, found
it somewhat beneath his dignity to
be so lamely recognized. His late subordi
nates had evidently been corrupted by the
publio sentiment which supposes that when a
man is paid for doing his duty he is not
entitled, in virtue of that fact, to any special
reward. For a common policeman, that may
be a good enough rule; but for a commis
sioner and sheriff elect, the case is entirely
different. Thus it came that the beautiful
engrossed resolutions were found to be so
much waste paper, and the "unbounded
stomach" of Sheriff Brennan could only be
satisfied by the police showing "how much"
they appreciated him.
Had this been left entirely to the private
opinion of the force, it is probable that the
result would have been rather unsatisfactory.
But as the men are there rather as the ap
pointees of Tammany than the servants of
the public, it was fit that they should be left
no choice in the matter. Pay-day came, and
with it a request to subscribe something in
recognition of the shining virtues of Judge
Brennan. A "Patrolman, who has moan-
while given bis five dollars much-
needed as it was to buy his wife a
new dress withal writes us with a view
to know why he or any other officer should
bave been mulcted for this testimonial. We
confess our utter inability to satisfy him on
that point. Had he or any of bis fellow-
sufferers interrogated the clerk who pre
sented the paper, and whose face so unmis
takably hinted the penalty of refusal, we do
not suppose that be would have been made
much wiser. Tammany willed it, and that is
about the only explanation that the plundered
police will ever get, just as it is the only ex
planation that a plundered publio has hitherto
got of much greater outrages.
KINANOIAL,
"yE OFFEU FOU SALE, AT PAR,
THE NEW MASONIC
TEMPLE LOAN,
Bearing 7 3-10 interest,
Redeemable after five (B) and within twenty-one (31)
years.
Interest Payable March and Hep.
tember.
The Bonds are registered, and will be issued In
sums to salt.
DE HAVEN & BRO.,
No. 40 South THIRD Street.
611 PHILADELPHIA.
Stocks bought and sold on commission. Gold and
Governments bought a ad sold. Accounts received
and Interest allowed, subject t Slght'Draf ta.
Ii. LEGAL IBIVHSTBZSlT
Eaving aold a large portion or the
Pen nsylvt nia Railroad General Mort
gage Bonds,
The undersigned offer the balance for a limited pe
riod at 95 and interest added In currency.
These bonds are the cheapest Investment for Trus
tees, Executors, and Administrators.
For further particulars, Inquire of
JAY COOKE & CO.,
E, W. CLARE & CO.,
W. H. NEWBOLD, BON A AERTSEN.
C. 4H.150RIE. Him
f30
530
CmAX220,
BANKER.
DEPOSIT ACCOUNTS RECEIVED AND INTER
EKT ALLOWED ON DAILY BALANCES.
ORDBltS PROMPTLY KXKCUTKD FOR THB
PURCHASE AND BALK Of ALL RELIABLE S&.
CURITIR8.
I H II T K( TIONH MADS EVERYWHERE.
RFAL ESTATE COLLATERAL LOANS NEGO
TIATED. t8 81 cm
No. 680 WALNUT St., Phils da.
J7 f A7 - iyf Kwwvtww -.v- w i
,si USAt,! A'tLi-S&memHA
FINANOIAU
A RELIABLE
Safe Home Investment
1IIH
Sunbury and Lewistown
-Railroad Company
7 PER CENT. GOLD
First Mortoaffe Bonds.
Interest Payable April and Octo
ber, I'ree ofgtate and United
State Taxes.
We are now offering the balanoe of th
loan of $1,200,000, which is secured by a
first and only lien on the entire property and
franchises of the Company,
At 00 and the Accrued Into
rest Added.
The ltoad is now rapidly approaohing com
pletion, with a large trade in GOAL, IltON,
and LUMBER, in addition to the passenger
travel awaiting the opening of this greatly
needed enterprise. The local trade alone is
sufficiently large to sustain the Road. We
have no hesitation in rocommending the
Bonds as a CHEAP, RELIABLE, and SAFE
INVESTMENT.
For pamphlets, with map, and full infor
mation, apply to
WfiS. PAINTER & CO.,
BANKERS,
Dealers in Government Seonrltiea,
fio. 3G South THIRD Street,
6 9 ttip FHILADSLFHIA.
JAY COOKE & CO.,
PB ILADELPIIIA, NEW YORK and WA8HIN3T0N.
JAY COOKE, McCULlOCH 11 CO.,
LONDON,
AND
Dealers in Government Securities.
Special attention clven to the Purchase and Hni
of bonds ami stocks on Commission, at the Board of
BrcKfTB in turn Bua oilier ciueB.
INTEREST ALLOWED ON DEPOSITS,
CULLKUrlUNa MAUK ON ALL POINTS.
UOLD AND SILVER BOUOHT AND SOLD.
In connection with oir London House we are now
prepared to transact a general
FOREIGN EXCHANGE BUSINESS,"
Including Purchase and Sale of Sterling Bills, and
the Issue or Commercial Credits and Travellers' Cir
cular Letters, available in any part or the world, arvl
are thus enabled to receive wold UN DBrosiT,
and to allow four per cent. Interest in currency
thereon.
Uavlnir direct telegraphic communication with
both our New York and Washington oillces, we can
offer superior facilities to our cuutomcra.
RELIABLE RAILROAD BONDS FOB INVEST
MENT.
Pamphlets and fall information given at our offlce,
8 2 8mrp No. 114 S. THIRD Street, Phllada.
SPECIAL NOTICE TO INVESTORS.
A Choice Security.
We 'are now able to supply a limited amount
of the
Catawissa Railroad Company's
7 PER CENT.
COKVEBTIELE MORTGAGE BONDS,
FREE OF STATE AND UNITED STATES TAX.
They are Issued for the sole purpose ot building
the extension from MILTON TO WiLUAMat'OKT.
a distance ol 80 miles, and are secured by a lien on the
entire roaa ruariy iuu miles, fully equipped and
doing a flourishing business.
Whtn it is considered that the entire Indebtedness
or tne company wm oe less man 110,000 per mile,
leaving out their Valuable Coal Prmxrtu of 1300 acre.
It will be seen at once what an unusual amount of
stcurlty is attached to these bonds, and they there
fore uinst commend themselves to the most prudent
Investors. An additional advantage is. that thev
can be converted, at the option or the holder, aftor
16 years, into the Preferred Stock, at par.
Tbey are registered Coupon Bonds (a creat safe
guard), lHsued In sums of tsoo and 1 1000. Interest
payable February ana August.
Price S24 and accrued Interest, leaving a good
margin lor advance.
For further lniormatlon, apply to
D. C. WHARTON SMITH I CO.,
No. 121 SOUTH THIRD STltEET,
1 SSi PHILADELPHIA.
DUNN BROTHERS,
II AN 1 12 lit.
Nos. 51 and 53 S. THIRD St.,
Tealers In Mercantile Paper, Collateral Loans,
Government Securities, and Gold.
Draw Bills of Exchange on the Union Bank of
London, and issue travellers' letters of credit through
Messrs. BOWLES BKOS fc CO., available la all the
cities of Europe.
Make Collections on all points.
Execute orders for Bonds and Stocks at Board of
Brokers.
Allow interest on Deposits, subject to check at
sight li
ELLIOTT, COLLINS & CO ,
lSANItUlit),
No. 109 South THIRD Street,
MEMBERS OF STOCK AND GOLD EX
CHANGES. DEALEHS IN MERCANTILE PAPEH,
G O VEltN MENT SECU KITIES, G OLD, Etc.
DRAW BILLS OF EXCHANGE ON TflK
UNION BANK OF LONDON. S fmwi
FINANCIAL..
Wilmington and Reading
2XAELHOAD
SEVEN PER CENT. BONDS
Free of Taxes.5
We are offering $200,000 of the Second
Mortgage Bonds of thia Company
AT 82J AUD ACCRUED INTEREST.
For the convenience of investors these Bonds are
issued in denominations ol
$1000s, $500t, and $100.
The money is required for the purchase of addi
tional Rolling Stock and the roll equipment of the
Road.
The road Is now finished, and doing a business
largely In excess of the anticipations of its offlcers.
The trade offering necessitates a large additional
outlay for rolling stock, to adord all facilities for its
prompt transaction, the present rolling stock not
being sufficient to accommodate the trade.
WM. PAINTER & CO.,
BANKERS,
No. 36 South THIRD Street,
0 6 PHILADELPHIA.
JOHN S. RUSHTOfi & CO.,
BANKERS AND BROKERS.
GOLD AND COUPONS WANTED.
City Wairantn
BOUGHT AND BOLD,
No. 60 South THIRD Street,
8S6I PHILADELPHIA.
F
O It
A. I
Six Per Cent. Loan of the City of Wil
liamsport, Pennsylvania,
Froo of tt 1 1 T a x o h,
At 85 and Accrued Interest.
These Bonds are made absolutely secure by act of
Legislature compelling the city to levy saOlclent tax
to pay interest and principal.
P. 8. PETERSON & CO.,
No. 39 S. THIRD STREET,
88 PHILADELPHIA.
B. K. JAMISON & COT,
SUCCESSORS TO
I. F. KELLY &, CO,
BANKERS AND DEALERS IN
Gold, Silver, and Government Sondi
At Closest Ularket Uates,
N. W. Cor. THIRD and CHESNTJT St.
Special attention given to COMMISSION ORDERS
in New York and Philadelphia Stock Boards, etc.
etc. 8S6
Bowles Brothers & Co.,
FAEIS, LONDON, BOSTON.
No. 19 WILLIAM Qtreet,
IN" o v Y o r lc.
Credits for Travellers
IN EUROPE.
Exchange on Farii and the Union S
Dank of London, 11
IN SUMS TO SUIT.
11 T 3mt
QITY OP BALTIMORE.
$1,200,000 six per cent. Bonds of the Western
Maryland Railroad Company, endorsed by the City
of Baltimore. The nndertlgned Finance Committee
of the Western Maryland Railroad Company offer
through the American Exchange National Bank
$1,200,000 of the Bonds of the Western Maryland
Railroad Company, having 30 years to run, principal
and interest guaranteed by the city of Baltimore.
This endorsement having been authorized by an
act of the Legislature, and by ordinance of the
City Council, was submitted to and ratified by an
almost unauimous vote of the people. As an addi
tional security the city has provided a slaking fund of
$200,000 for the liquidation of this debt at maturity
An exhibit of the financial condition of the city
shows that she lias available and convertible assets'
more than sufficient to pay her entire indebtedness.
To Investors looking for absolute security no loan
offered in this market presents greater Inducements.
These bonds are offered at 87X and accrued Inte
rest, coupons payable January and July.
WILLIAM KEYSER,
JOIIN .K. LONGWELL,
MOSES W1ESENFELD,
1 6 60tt Finance Committee.
WHISKY, WINE, ETO.
QAR8TAIR8 & McCALL.
No. 126 Walnut and 21 Granite fta
IMPORTERS OV
Erandlei, Winei, Gin, Olivi OIL EU.,
WHOLESALE DKALC8S 11
PURE RYE WHI8KIBS
IS BOKD ABO TAX PAID. M M
X