G
THE DAILY KVftmNQ TELEGRAPH PHILADELPHIA, WEDNESDAY, MAY 17, 1871.
OUR LONDON LETTER.
The International Exhibition The Royal
Academy, and MlllaU as a landscape
Fainter The Theatre Franeals An Anglo-American
Club Critical Position of
the Gladstone Government -MatchmakingThe
Licensing Bill The Joint Coin,
mission Lowell's Iast Volnme Ameri
cans at Cambridge, Etc., Etc., Etc.
From Our Oten Correspondent.
London, May 2, 1871.
Ths International Exhibition of Fine Arts,
Selected Manufactures, and Music was opened
by the Prince of Wales yesterday with a
good deal of trumpet-blowing, cannon-firing,
and bo on, but the general publio hare so
many more exciting things to occupy them
nowadnya that the event has attracted mar
vellously slight attentioa. The one humorous
feature of the proceedings was the presenta
tion of the provincial Mayors (who had all
received invitations to attend) to the Prince.
Many of these worthy gentlemen got into
unseemly oonf usion with their robes of state
on finding themselves in the presence of
royalty, and one went so far as to measure
his length on the floor at Mr. Disraeli's feet.
But, after all, what is this international ex
hibition ? you ask. ISriefly, a show of some
very good pictures most of which have, how
ever, been often shown before some ex
quisite glass and porcelain, some silk3 and
woollen stuffs, and some of the invariable
machinery in motion, in some particularly
ugly brick annexes tacked on to the monstrous
Albert Hall. In the latter building there
are to be provided concerts, illustrative of
what Musio can do, and at the other
end of the galleries Messrs. Spiers
& Pond, of world-wide fame, will set up an
American bar, where I presume the mint
julep and sherry-cobbler of this nineteenth
century will be exhibited in their highest
stage of development. Poor France had fully
intended to take a leading place in the show,
and at her own charges erected handsome
courts for the display of her productions.
Their utter emptiness records a sad protest
against the numbing, paralyzing effects of
war.
Yesterday, too, the Royal Academy opened
its doors and displayed its annual stock of
pictures. Wonders will never cease. Here is
Millais exhibiting a landscape and such a
landscape, too. "Chill October," a most cap
tivating and thoughtful p;.ece of rush-grown
water Bcenery, has taken ail tho critics by
storm, and all the dailies, from the ponderous
Times down to the half-penny Echo, are en
thusiastic in their praise of the versatile
painter's work. Mr. Leighton is among us
again this summer, and shows some of that
marvellous coloring which is his forte. Truly,
our Academy is, with all its shortcomings
and possible eccentricities, an institution to be
envied and cheiished.
It has often been said that what's one man's
poison is another's meat, and the proverb is
now being verified for the benfit of our play
goers. For some years past the presence of a
rather miscellaneous company of Frenoh
players in one or other of the London
theatres during the summer months has grown
to be an expected element of "the season;"
but this year, owing to the reign of the Com
mune in Paris, we have no less than three
French companies among us, including the
renowned artistes of the Theatre Francais.
Yes, the Francais which ever since 1G80 has
stayed at home, the acknowledged head of the
acting world and arbiter of French pronuncia
tion, has come in these last days to earn its
bread in clumsy barbarian England. Let us
take the gifts the gods provide, and thank
even the Commune for giving us a glimpse
of Bressant and Favart in the Strand. Tar
tvffe, Moliere's immortal Tartuffe, as played
by them last night, their opening night, was
a treat not to be forgotten.
It deserves mention, as one mark among
many of the kindly feeling that is spreading
every day amongst us, that one of our clubs,
which happens to have a namesake in New
York, has spontaneously passed a resolution
offering the privileges of honorary member
ship to all and every the members of its
namesake. Why should there not be an Anglo
American club on the reciprocity system,
having (say) four houses, ia London, Phila
delphia, New York, and Boston, membership
of any one of which should make one free of
the other three ?
It will be a considerable help towards better
communication between our two countries if
Mr. Seely carries the resolutions which he is
to submit to the House of Commons this
evening, to the effect that the postage be
tween England and America be reduced from
threepence to one penny. Tho House is
passing through such exciting times, though,
that it has hardly time to attend to quiet
postal improvements. Mr. Lowe's budget,
proposing to put a tax on matohes, excited
such general disapprobation that, after fur
nibbing material for a hundred obvious witti
cisms, about the number of female engaged
in match-making and the like, it had to be
remodelled, and last night the conservatives
formally gave battle to the substituted pro
posal of an additional twopence of income
tax. The occasion was really critical, for
the so-called Independent Liberals have been
so frequently grinding their own private axes
lately by voting against the Government that
it was feared a coalition of them and the
opposition on this budget question might
throw the Ministry Into a minority, in which
case we should perhaps have seen the strange
anomaly of a Premier with nearly four-sixth
of the House at his back resigning office iu
favor of the remaining two-sixths. Luckily
the Independent Liberals found their senses
at the last moment, and a majority of eighty
five affirmed the House's conndenoe iu the
Gladstone ministry.
But the Government, though they have
weathered this storm, have many tronhl.,!
waters to encounter yet before the Besiji
closes. Their new Licensing bill, a thor.
oughly honest and practical attempt to arrjst
and limit the evils of drunkenness, has, as
might be anticipated, arrayed the whole of
the vast brewers' and publicans' interest
ai&Ubem. The bill proposes to let existing
licenses alone for ten years, and after that
time to leave the number of drinking-plaoes
in every district to the regulation of the local
magistrates, and contains provisions for clos
ing publio houses not later than midnight,
and for the detection and punishment of
adulteration. And what do the publioans
say ? In every publio-house window a pla
card stares the passer-by in the face, which,
for dexterous perversion of fact, could hardly
be surpassed. It adjures "Englishmen" to
"protest against the odious and tyrannical
measure intended to confiscate property, to
prevent the sale of not 'drink,' observe, but
public refresimcnts, and note the appeal to
the average artisan's feeling generally to in
terfere with the cherished freedom of En
glishmen." Of course, all this indignation on
the publicans' part is quite unselfish, and
arises from a disinterested solicitude for the
public (not publican) interest.
The Times' correspondent at Philadelphia
has stolen a march upon all his rivals in the
earliness and accuracy of his telegrams re
specting tho results agreed upon by the Joint
Commissioners. Publio opinion here ia de
cidedly in favor of the recommended mode of
settlement, but very little is said about the
matter till it .is seen whether Congress will
ratify the present propositions. After the
disappointing collapse of the former scheme,
our Bide of the water doesn't like to be too
sanguine that tho business is roally going to
be settled till your side has formally and un
mistakably agreed to settle.
Lowell's last volume, "My Study Window,"
has met with such remarkable success in this
country a success, indeed, no greater than
its many merits deserve that Messrs. Samp
son Low it Son have already brought out a
cheap edition for the million, to be succeeded,
hope, by another and another still.
The list of Americans who have distin
guished themselves at old Cambridge is swell
ing fast. Two of the present tutors at Har
vard have been scholars of Trinity College,
and they have a worthy successor there now,
who, besides winning the honor of a scholar
ship, is pulling a good oar in one of his col-
ege's leading boats on the Cam.
Templar.
SPECIAL NOTICES.
ggy OFFICE PENNSYLVANIA RAILROAD
COMPANY,
Philadelphia, May 1, 1S71.
NOTICE TO STOCKHOLDERS.
Notice is hereby given to the Stockholders of this
Company that they will have the privilege of sub
scribing for New Stock at par in the proportion of
one share for every six as registered in their name,
April 80, 1871.
Holders of less than six Shares will be entitled to
subscribe for a fall Bhare, and those holding more
than a multiple of six Shares will be entitled to an
additional Share.
Subscription will be received and the first instal
ment of Fifty per centum will be payable between
the 22d day of May and 22d day of June, 1871.
Second instalment of Fifty per centum will be pay
able between the S2d day of November and 22d day
of December, 1S71. If Stockholders prefer, the
whole amount can be paid at the time of subscrip
tion.
No subscription will be received after June 22,
1871. THOMAS T. FIRTH,
t 1 Bw Treasurer,
PENNSYLVANIA RAILROAD COMPANY,
1 REASUBEK S DEPARTMENT.
Philadelphia, May 2, 187L
The Board of Directors have this day declared a
semi-annual dividend of FIVE PER CENT, on the
capital stock of the Company, clear of National
and State taxes, payable in cash, on and after May
80, 1871.
Blank powers of attorney for collecting dividends
can be had at the office of the company.
The office will be open at 8 A. M., and close at 3
P.M., from May 30 to June 2, for the payment oi
dividends, and after that date from 9 A. M. to 3
P. M. TIIOMAS T. FIRTH,
6 S 2m Treasurer.
tr&f OFFICE CATAWISSA RAILROAD COM
w PANY, No. 424 WALNUT Street.
Philadelphia, May 8, 1871.
The Board of Directors of this Company have this
day declared a Dividend of THREE AND ONE II A. LI'
PER CENT., on account of the Dividends to be paid
the preferred Stockholders, payable on and after
MONDAY, the 2nd instant, to those pcranns in whose
names the slock stands at the close of the transfer
books.
The transfer books of the preferred stock will be
closed on TUESDAY, the 16th, and reopened on
wondav, the 22d instant. Vf. L. uilkoy,
e 10ws4t Treasurer,
ta? CAMDEN AND AM BOY RAILROAD AND
TRANSPORTATION COMPANY.
Tkknton, April 10, isn.
NOTICE. The Annual Meeting of the Stock-
holders of the CAMDEN AND AMBOY RAILROAD
AND TRANSPORTATION COMPANY will be held
at TRENTON, May 10, at 12 o'clock, M., at the Com
pany's offtoe, for the election of seven Directors vo
serve for the ensuing year.
SAMUEL J. BAYARD,
419 Secretary C. and A. R. R. and T. Co,
BATCH ELOR'S HAIR DYE. TniS SPLEN
did Hair Dve Is the bent in the world, the only
true ana periect uye. Harmless Keuaoie instant
taneous no disappointment no ridiculous tluts
"Doeanr (contain Ldd nor any Vitalio PoUon to in
jxtreni hair or System." Invigorates the Hair and
leaves it soft and beautiful : Black or Brown,
Sold by all Druggists and dealers. Applied at the
Factory, No. 18 BOND Street, New York. 4 27 mwf
THE UNION FIRE EXTINGUISHER
COMPANY OF PHILADELPHIA
Manufacture and sell the Improved Portable Fire
Extinguisher. Always Reliable.
D. T. GAOK,
No. 118 MARKET St., General Aga
ssotr
OLD OAKS CEMETERY COMPANY,
The annual meeting of the Stockholders will
be held at the ottice of the company, No. 6H WAL
NUT Street, on MONDAY, June 6, at 10 A. M., when
an election will be held for eight Managers to serve
uunog me ensuing jenr.
MICHAEL NISBET,
669 1317 20 24 27 31 8 3 Secretary,
PILES. DR. GUNNELL DEVOTES HIS
w time to the treatment of Piles, blind, bleed
in?, or itching. Hundreds of cases deemed Incura
ble without an operation have been penutiueotl
cured. Best city reference given. OUlce, No. 21 M
ELEVENTH Street. 4 15 Bin
m7x THE ANNUAL MEKTIVO rp THE
B Stockho'der of Hie CLARION RIVER AND
FPR1NO CREEK OILG'OMI'ANV will be held at
Horticultural Ha'I, on WEDNESDAY evening,
the mth iLStant, at s o'clock r. .m. o m m
DK. K. R. THOMAS. No. H WALNUT ST,
formerlv oDerutorat the Col Ion Deutal Kooiuh.
devote bis entire practice to extracting teeth wlta.
oui pain, wuii rresn uurous oxum k. iiiit
y- JOUVIN'S KID GLOVE CLEANER
w reetore soiled gloves equal to new. For sale
by all druvgtsu and, inner goods dealers. Price as
cenuia r otua. 11 aanawf
DISPENSARY FOR SKIN DISEASES, NO.
w 816 S. ELEVENTH Street.
Patients treated .gratuitously at this Institution
daily at li o'clock. 1 14
FINANCIAL
7-30 GOLD LOAN
op rui
Northern Pacific Railroad.
Rapid Progress of the Work.
The building of the Northern Pacific Railroad
(begun July last) is being pushed forward with great
energy from both extremities of the line. Several
thousand men are employed in Minnesota and on
the Pacific coast. The grade is nearly completed
260 miles westward from Lake Superior; trains are
rnnnlDg over 130 miles of finished road, and track
laying la rapidly piugresslng towards the eastern
border of Dakota. including its purchase of the
St. Paul ana Pacific Road, the Northern PaclUo
Companj now has 4 13 miles of completed road, and
by September next this will be Increased to at least
SCO.
A GOOD INVESTMENT,-Jay Cooke & Co.
are now gelling and unhesitatingly recommend,
as a Profitable and perfectly Safe Investment,
the First Mortgage Land Grant Gold Bonds of ttie
Northern Pacific Railroad Company. They have 3D
years to run, bear Seven and Three-tenths per cent,
gold interest (more than 8 per cent, currency), and
are secured by first and only mortgage on ttie enj
tirb road and its kcjoifmknts, and also, as fast as
the Kond is completed, on
23,000 ACRES OP USD to every mile or
track, or Boo AcreB for each iluoo Bond. They are
exempt from United States Tax ; Principal and In
terest are payable in Gold; Denominations: Cou
pons, turn to iooo; Registered, ioo to io,ooo.
USDS FOR ItOSDS. Northern Pacific 7-30's
are at all times receivable at ten per cent, above
par, in exchange for the Company's Lands, at their
lowest cash price. This renders them practically
IJTEKEPT-!!EARINfl LAND WARRANTS.
SlSKLVU Fl'SD.-The proceeds of all saleB of
Lands are required to be devoted to the repurchase
and cancellation of the First Mortgage Bonds of the
Company. The Land Grant of tiie Road exceeds
Fifty Million Acres. This lrameuse Sinking Fund
will undoubtedly cancel the principal of the Com
pany's bonded debt before it falls due. With their
ample security and high rate of interest, there is no
Investment accessible to the people which Is more
riiOMTARI.B OR RAPH.
EXCHANGING V. S. FIVE-TWENTIES.
The success of the New Government 5 Per Cent.
Loan wui compel thj early surrender of United
States 6 per cents. Many holders of Flve-Twentfes
are now exchanging them for Northern Pacific
Seven-Thirties, thus realizing a handsome profit, and
great lv increasing their vearlv Income.
OTHER SECURITIES. All marketable
Stocks and Bonds will be received at their highest
current price in exchange for Nsrthern Pacific
Seven-thirties. Express charges on Money or
Bonds received, and on Seven-thirties sent in return,
will be paid by the Financial Agents. Full informa
tion, maps, pamphlets, etc., can be obtained on ap
plicaon at any agency, or from the undersigned.
Fob sale by
JAY COOKE & CO.,
Philadelphia, New York, Washington,
FINANCIAL AGENTS NORTHERN PACIFIC
R.R.. CO.
EjEAXKS and EAXKEliS acnerallrt Ihrounhout
the country.
For sale In Philadelphia by
GLENDINNING, DAVIS & CO., No. 43 S. Third St.
WM. T. ELBERT, No. 321 Walnut street.
J. H. TROTTER, No. 322 Walnut street.
WM. PAINTER & CO., No. 88 S. Third street.
S. M. PALMER & CO., No. 28 S. Third street.
D. M. ROBINSON & CO., No. 133 S. Third street.
SAMUEL WORK, No. B4 S. Third street.
GEORGE J. BOYD, No. 18 S. Third street.
RALEY A WILSON, No. 41 S. Third street.
WALLACE & KEENE, No. 143 S. Third street.
STERLING & CO., ino. 110 S. Third street.
H. n. WILTBANK, No. 305 Walnut street.
T. A. BIDDLE & CO., No. 820 Walnut street.
M. SCHULTZ A CO., No. 44 S. Third Street.
WILLIAM C. MORGAN & CO., No. 23 S. Third St,
BOWEN & FOX, No. 13 Merchants'Exchange.
WILLIAM T. CARTER, No. 313 Walnut street.
W. II. 8HELMERDINE, No. 10 8. Third street.
MEGARY & PEALE, No. 12 8. Third Street.
NARR & LADNER, No. 30 s. Third street.
BIOREN & CO., No. 150 8. Third street.
JOHN K. WILDMAN, No. 26 8. Third street
TOWNSEND WHELEN & CO, No. 309 Walnut St.
P. S. PETERSON & CO.. No. 89 8. Third street.
B. K. JAMISON & CO., N.W. cor. Third & Chesnut.
EMORY, BENSON & CO., No. 6 8. Third street.
G. &. W. Y. HEBERTON, No. 62 S. Third street.
BARKER BROS. & CO., No. 28 S. Third Street.
JAMES E. LBWARS & CO., No. 29 S. Third street.
BULL & NORTH, No. 121 8. Third street.
D. C. W. SMITH & CO., No. 121 8. Third street.
CHARLES B. KEEN, No. 325 Walnut street.
J. S. RUSHTON & CO., No. 60 S. Third street.
H. F. BACHMAN, No. 26 S. Third street.
JACOB E. RIDGWAY, No. 56 8. Third street.
W. H. STEVENSON, No. 223 Dock street.
JOHN MOSS, Jn,, No. 206 Walnut s reet.
C. T. YERKES, Jr., & CO., No. 20 S Third street.
SEVENTH NATIONAL BANK, N. W. cor. Fourth
and Market streets. 8 27mwI3m
COUPON OB REGISTERED LOAN
OF THS
City of William sport, Pennsylvania,
With both principal and interest made absolutely
secure by State end municipal legislation,
fur sale at
AND ACCRURBD INTEREST, BY
P. 8. PETERSON & CO.,
Bankers and Stock Brokers,
No. 39 B. THIRD STREET,
S PHILADELPHIA.
INVESTMENT BONDS
PORT AGS LAKE AND LAKE SUPERIOR SHIP
CANAL It's. Secured by Unit mortgage on the
canal (now completed), and on real estate worth Ave
times me amount of the mortgage.
KANSAS CITY, MISSOURI, 10S.
Omaha), lus, and other choice Western county and
cuy uonas, yielding good rates or interest.
ALLENTOWN CITY (PA.) SEVEN PER CENT.
SCHOOL BONDS, free from taxes under the laws
oi tne state, at par and interest.
For full particulars apply to
UOWABD WAHLlUTO.t,
8 2 8m
No. 14T South FOURTH Street.
JOHN S. RUSHTON & CO.,
BANKERS AND BS0EESS,
GOLD AND COUPONS WANTED.
CJity TVa.rra.nts
BOUGHT AND BOLD.
No. 60 South THIRD Street.
SCi
PHILADELPHIA.
1IA1UMSS0N GKAMB0,
BANKER, U
PHILADELPHIA.' 8 2S5
-1
'.WLA
MNANCIAL.
JAY COOKE & CO.,
PHILADELPHIA. HEW YORK and WASHINGTON,
jay cooke, Mcculloch s co.
LONDON,
AMO
Dealers In Government Secnrltlei.
Special attention given to the Purchase and Sale
r Bonds and Stocks on Commission, at the Board nr
of
Brokers In this and other cities.
INTEREST ALLOWED ON DEPOSITS,
COLLECTIONS MADE ON ALL POINTS.
GOLD AND SILVER BOUGHT AND SOL
In connection with our London Houhe we are now
prepared to transact a general
FOREIGN EXCHANGE BUSINESS,
Including Purchase and Sale of Sterling Bills, and
the issue of Commercial Credits and Travellers' Cir
cular Letters, available in nnv nnrt nf t.hA wnrld and
are thus enabled to receive GOLD ON DEPOSIT,
and to allow four per cent interest in currencv
thereon.
Having direct telegraphic communication with
both our New York and Washington Offices, we can
oner superior iacumes to our customers.
RELIABLE RAILROAD BONDS FOR INVEST
MENT.
Pamphlets and full information given at our offlce,
B 8 8mrp No. 114 S. THIRD Street. Phllada.
A RELIABLE
Safe Home Investment.
T1II2
Sunbury and Lewistown Railroad
Company
7 rDH CEIJT. GOLD
First Mortgage Bonds.
Interest Pay a1le April and Octo
ber, Free of State ami United
States Taxes.
ff V OlO Ju J VT VUV.I UllO UU1QUI..O Jk bill? lUttll Jl
$1,200,000, which Is secured by a first and only lien
on the entire property and franchises of the Com.
pany,
At 00 and the Accrued Interest
Added.
The Road is now rapidly approaching completion,
with a large trade in COAL, IRON, 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 recommending the Bonds
as a CHEAP, RELIABLE, and SAFE INVEST
MENT. For pamphlets, with map and full information,
apply to
WM. PAINTER & CO.,
BANKERS.
Dealers in Government Securities,
No. 30 South THIRD Street,
PHILADELPHIA.
FIRST lYXORTaAaa
7 PER CENT. GOLD BONDS,
Gn a Completed Road,
Free of U. S3. Taz,
At 90 and Accrued Interest in Currency.
Burlington, Cedar Rapids, and
Minnesota Railway.
The completion of this Road has given to these
Bonos an ebtabllshed character equal to any mort
gage issue dealt In at the Stocfe Exchange. We are
prepared to buy and sell them at any time, at our
tfuuKiEg nouHo, atmar&et price tnus placing them
on the same basis, for temporary or permanent ln
vesmems, with Governments or any other security.
j nese oonas are a tirst ami only mortgage on a
railroad that has erst double tbe amount of the
ifcgue, and which commands, without competition.
all the traffic of Northern Iowa and Houthern Min
nesota shortening the distance from St. Paul to
Chicago s miles, And to fcu Louis more than 90
miles.
The net earnings are already largely in excess of
interest on tne dodos, ana no aouot exists that they
will more than double witnlti the ensuing year.
A contract has been secured with the Chlcacro.
Butllpgton.and Quincy Railroad Company ob igatlng
the Utter to invest 60 per cent, of gross earnings de
rived rrom iranio wuu me nurungion, cedar itapids,
and Minnesota Road iu the bonds of this Company.
This arrangement la a strong guarantee of the
Bonds, and establishes a large sinking fund for their
redemotion.
The convertibility privilege- in these bonds ena
bles them to be exenangea lor stock, at par, at any
time. This secures to the holder, at his option, a
share In any excess of earnings over the interest
obligation.
An exchange of Government securities for these
bonds returns per cent, interest. Instead of 5 ner
cent, which is all that Government pays at present
price, besides leaving an immediate gain of about 20
per cent, in price lor reinvestment.
All marketable securities taken In exchange, free
Ul couiluuHiuu aim copies, tuurgeu.
HENRY CLEWS A CO.,
No. 33 WALL STREET, NEW YORK.
FOR SALE IN PHILADELPHIA BY
DeHaven A Cros.,
Elliott, Collins & Co..
Townsend Whelen & Co.,
Darker uros. & Co..
WH. Shelmendine a Co..
And by Bankers and Brokers generally. 4 22swtmlB
B. E. JAMISON & GO.
SUCCESSORS TO
P.F.KELLY & CO,
BANKERS AND DXALERS IK
Gold, Silver, and Government Bondt
At Close Market Elates,
H. W. Cor. THIRD and CHESNUT Sti
Special attention given to COMMISSION ORDERS
in Hew York and Philadelphia stock Boards, eta,
eto i;
FINANCIAL..
GREAT NATIONAL
LOAMS,
NEW FIVE PER CENT. BONDS OF TIIE
UNITED STATES.
The Treasury Department is now Able to
promise that the registered Certificates of
Stock, and a good part of the Conpon Bonds
of the New Loan of the United States, bear
ing Five Ter Cent. Interest, payable quarterly
in Gold, will be ready for delivery early in the
present month. The Subscriptions to the
Loan now amount to $02,000, 000, and it is
expected that the Subscriptions and Sales will
progress more rapidly when tho Certificates
and Bonds are ready for market abroad as
well as at home. The whole sum of Five
Per Cents offered to the publio generally, and
to the holders of United States ".-20 Bonds,
without qualification, is 200,000,000. When
this amount, to which preference is thus
given, ia taken up, tho remainder of the Five
Ter Cents. $300,000,000. embraced in the
New Loan of July 14, 1870, for refunding tho
i'ubiic Debt, will be offered in connection
ith $300,000,000 Four and Ono-lmlf Pr
Cents, and any part of $700,000,000 of Four
Per Cents, the one running fifteen years, and
the other thirty years.
The following is a copy of the New Five
rer Cent. Bond, under and pursuant to tho
New Loan Act of Congress:
FORM OP 6 PER CENT. BOND.
Interest FUNDED LOAN OF 1SS1 5 per cent.
UNITED STATES OF AMERICA
ARK INDEBTED TO THE BEARER IN THE SUM OF
DOLLARS.
THIS BOND Is issued in accordance with the pro
visions of an Act of Congress entitled "An Act to
authorize the refunding of the National Debt," ap
proved July 14, 1870, amended by an Act approved
January 20, 1S71, and is redeemable at the pleasure
of the United States, after the first day of May, A.
D. 1S81, in Coin of the standard value of the United
States on said July 14, mo, with interest in such
Coin, from the day of the date hereof, at the rate of
FIVE PER CENTUM per annum, piyable quarterly,
on the first day of February, May, August, and No
vember, in each year. The principal ant interest
are exempt from tho payment of all Taxes or Duties
of the United States, as well as from taxation in any
form, by or under State, municipal, or local autho
rity. Washington ,13....
Entered Recorded
Register of the Treasury.
REGISTERED BONDS
will be issued of the denominations of $50,
$100, $500, $1000, $5000, and $10,000, and
conpon bonds of each denomination except
the last two. The interest will be payable in
the United States at the office of the Treasu
rer, any Assistant Treasurer, or designated
depositary of the Government, quarterly, on
the first days of February, May, August, and
November in each year.
TIIE INTEREST ON TOE REGISTERED
STOCK
of this Loan, it is determined by the Trea
sury Department, will be paid as conveniently
to the holder as on the Coupon Stock, and
personal attendance, or attendance by proxy
at the Treasury, to draw and receipt for the
Interest, will be dispensed with, whenever the
checkofthe United States Treasurer, mailed
punctually to the address and order of each
voider, on or before every quarter-day, is pre
ferred to such attendance. This check, pay
able in Gold Coin at the Treasury in New
York (or such other office as the Stock is
registered at), will be negotiable or collect
able on the indorsement of the owner or
owners of the Stock. In pursuance of this
arrangement, the subscribers to, or pur
chasers of, the Stock in its registered form
(which is a complete protection against theft
or other losses incident to Coupon Bonds
payable to Bearer) are .advised to give their
Tost Office address in full, and to notify of
any change in the address between quarter
days. The whole proceeds of the new loan will
be applied to the payment or redemption and
cancellation of the 5-20 years six per cent,
bonds, end, in addition to these proceed,
the 5-20s are now being reduced by purchase
at the rate of $10,000,000 per month.
The entire effect, therefore, of the new
loan, in connection with the existing sinking
fund process of the Treasury, is to reduce
both principal and interest of the publio debt
of the United States. The loan creates no
additional supply of Government stooks, while
the application of the surplus revenues de
rived in gold from customs is constantly les
sening, as it has been doing for two years
past, the funded stocks bearing six per cent,
gold interest.
The 1st of May schedule of the publio debt,
which has just been published by the Secre
tary of the Treasury, shows a reduction in
these Stocks since the April sohedule of
$12,215,700, and a further lessening of the
yearly interest charge thereon of $732,942.
This leaves the total yearly interest charge
in Gold $111,982,034. In the same month
the Treasury paid and cancelled $2,470,000
of the Three per Cent. Currency debt, re
ducing the whole of this debt bearing interest
to $51,023,000, and the yearly interest charge
thereon to $1,537,470.
The proposed farther reduction of the au
nual interest charge upon the Public Dabt by
refunding is as follows:
Bv exchange of 5U0. 000,000 United
Hates six l'er c""11' lor UKVf uvJ per
Cents Of ltl 15,000,00!)
Bv exchange of UOo,000,Ooo United
State nix per cents for lour and a half
uer cents of 1666 4,600,000
By exchange of 1100,000,000 United
Htatea nix per cents for four per cents
f ltfOl 14,000,000
Total saving per annum by refunding. $23,500,000
The large and rapid a.ceuuuilaU?n. In the
FINANOIAL..
last few years of private capital now retire
from active business, and of the cash Savings
and Life Insurance premiums deposited with
or intrusted to the provident Institutions of
the country all seeking the most undoubted
Becurity, pledged to be kept free of all taxes',
under national or local authority, and con
tent, provided this objeot be assured, with
moderate rates 01 interest will no doubt
ultimately absorb so much of these New
Stocks as may not be taken in voluntary
conversion of United States 5-20s, or mar
keted abroad. C. C. Norvell,
In charge of United States Lean Advertising.
Treasury Offfice,
New York, May 2, 1871. J
PROGRESS OF REDUCTION OF THE NATIONAL DEBT.
Dthtofth V. S.
Irtt doth in the
1869. Trmmry.
March 1 t'i,fi2"403,260
April 1 8,525,190,461
Mayl 8,618,797,891
June 1 8,605,412,613
July 1 8,49,008,480
August 1 2,481,560,736
September 1 2,475,962,501
October 1 2, 408, 495,072
November 1 2,461, 81,is
Decetnbcrl 2,453,559,738
1870.
January l... 2,448,740,953
February 1 2,444,813,288
March 1 2,438,323,471
April 1 2,43i,562,12T
May 1 8,420,86,834
June 1 8,400,502,371
Julyl 2,380,358,699
August 1 8,369,324,476
September 1 2,355,921,150
October 1 2,346,913,052
November 1 2,341,784,355
December 1 8,334,308,494
1871.
January 1 2,832,067,793
February 1 8,328,020,807
March 1 , .... 2,320,701846
April 1 2,809,697,696
I)errae of Debt
during th fr-
eeuing Month,
1266,793
6,399,070
12,334,77?
16,410,138
7,435,744
5.604,284
7,467,429
7,863,8S8
7,571,454
4,812,761
8,933,664!
6,484,8111
0,760,849
11,697.793
14,301,902
80,203,7711
17,034,123
13,403,325
0.007 49ft
5.129,2901
7,475,805
2,240,700
4,040,986
7,317.900
11,011,2504
iMayi 2,303,678,643
6,124,053
Total Dterenna
Monthly
interettt
Dccrcrwe in'
from March 1,
monthly info-
1H69. lHtM. to date. rharae.
March 1 flO.632,462
April 1 10,526,238
May 1 16,605,863 10,522,835
Junel 20,060,646 10,507,090
Julyl U6.400.779 10,476,840
August 1 43,896,623 10,383,568
September 1.. 49,500,758 10,83J,518
October 1.... 60,968,187 10,252,933
rent charge.
(6,224
9,626,
25,372
65,622
148.S9:!,
1 98,94 :i
279,52J
November 1.. 64,832,070 10,194.903
December 1 . . 71,903,624 10,130,625
1870.
January l.... 76,716,806 10,001,506
February 1... 80,649,971 10,022,493
March 1 87,134,782 10,007,312
April 1 92,901,132 9,982,850
Mayl 104,698,925 9,956,759
June 1 118,900,888 9,926,762
Julyl 139104,660 9,886,818
August 1 160,138.784 9,854,633
September 1.. 169,542,109 9,814,690
October 1.... 178,549,e07 9,763,940
November 1.. 183,678,904 9,718,436
December 1.. 191,154,765 9,636,164
1871.
B37.55S
401,830
470,056
509,964
525,14!
550, IU
575,70:
600,69
645,64
677.82'
1T 07H
763 R2 J
B1 i IIOH
January 1 . . . . 193,395, 466
February 1... 197,436,463
9,644,043 888,4iq
9,610,886 922,07
9,571,007 961.45.1
juarcn l 204,154,413
April 1 215,765,003
Mayl 281,8S9,716
9,527,218 1,005,8413
,46,U0 1,072,503
The foregoing is a correct statement of the public
debt, as appears from the books and Treasurer's tei
turns in the Department at the close of business
April 30, 1871.
"WILLIAM A. KICHARDSON,
4 5 11 12 18 4t Acting Secretary of the Treasury.
Wilmington and Readini
Railroad
7 rSXl CENT.
Free of Taxes.
We are offering $200,000 of the Secouil
Mortgage Bouds of this Company
AT 82 AND ACCRUED INTEREST,
Interest Payable January an
July,
The Bonds are In i
SIOOOs, SOOOs, and SIOOs
And can be REGISTERED free of expense. Th)
road is doing a good business, with prospects of conf
elderable increase.
This issue Is made to procure additional rollini
stock.
Bonds, Pamphlets, and information can be ou
tained of
DE HAVEN & BRO.y
Ko. 40 South THIRD Stree
PHILADELPHIA.
DUNN OROTHEROV fj
II ANILE KM,
Nos. 51 and 53 S. THIRD Sti
Dealers In Mercantile Paper, Collateral Load
Government Securities, and Gold.
Draw Bills of Exchange on the Union Bank
London,and issue travellers' letters of oredlt throuJ
Messrs. BOWLES BROS t CO., available In all tl
cities of Europe.
Make Collections on all points.
Execute orders for Bonds and Stocks at Board
Brokers.
Allow Interest on Deposits, subject to check
sight,
ELLIOTT, COLLINS & CO ,
tto. 109 South THIRD Street
MEMBERS OF STOCK AND GOLD
CHANGES.
DEALERS IN MERCANTILE PAPE
GOVERNMENT SECURITIES, GOLD.Et
PBAW BILLS OF EXCHANGE ONTH
UNION BANK OF LONDON. 8 8 fmw
A
SAFE HOME INVESTMENT!
Pa j lug T Per Ceut. Free from all Taxes.
The (jienernl Mortgage JJO-Vear Bonds o
I He Wut ( lii ktt r -d Philadelphia
Uatlroad t'outuauy,
Bearing interest a T per cent per annum, payabl
Anrii i Hm October 1. free of all taxei.
We offer for galea limited amount of the above!
can u'-uuhbk ''.
mil mloiiuation furnished on application to
E. W. CLAKK & O H. Bankers,
6 i IK No. So frouth Ti J.D attest
ft