srxh.it or mass. Qf - Library of Congress › lccn › sn83025925 › 1870-12-23 › … · Mr....

srxh.it or txxs mass.Editorial Opinions of the Leading Journals

tponCurrent Topics Compiled EveryDay for the Evening Telegraph. .

TWO WAYS TO SOLVENCY.From the A. Y. Tribune

In tbia day of wide-sprea- d venality and of(sweeping charges of corruption, it might bedeemed remarkable that no whisper of re-

proach or suspicion baa sought to tarnish thepood 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 perlectintegrity. If there be opportunities affordedby bi3 high position to enrich its holder, thewhole country knows that he has never soughtto profit by them. With millions subject toLis will, be will leave the office poorer thanbe entered it. And bis unsparing hostility toevery form and shade of repudiation, bis

championship of early resumption,and bis manful resistance to the demagoguerace for precedency in diminishing the revenueand thus arresting the payment of the na-

tional debt, have justly given him a strongbold on the confidence and support of thebetter portion of the American people.

When, therefore, we are constrained todisRent from any feature of Mr. Boutwell'spolicy, we do it with profound reluctance,lint the close of a year affords an excellentopportunity for a new departure; and we re-

turn to the subject of the Treasury surpluswith an earnest hope that the Secretary maybe induced to review and revise his action onthis head.

Mr. Boutwell has now been for nearlytwenty-on- e months the manager of thenational finances; and he has meantime re-

duced the national debt by little less thantwo hundred millions of dollars. This is, sofar, excellent. But suppose he had paid stillfaster, especially in the outset, when eachmillion of coin in the Treasury would havebought considerably more bonds than it nowwill bad converted all his surplus above tenmillions into bonds within the first quarterof his administration, and had thenceforthkept the Treasury as nearly empty as wasconsistent with the prompt adjustment ofevery liability, the debt must have been re-

duced, ere this, at least one hundred millionsmore than it has been, and the same less thesurplus ia the Treasury from ' ten to twentymillions. The interest which has since ac-

crued on the hundred millions that he mightLave paid off at the outset mast be nearly orquite ten millions; the saving in the price ofthe bonds purchased could have b6en littleless. And what loss would have balancedthis large gain ?

Mr. Boutwell doubtless believes that thecoin in the Treasury facilitates and serves tohasten a safe resumption. We regard it, onthe contrary, as the chief obstacle to an earlyresumption. Let ns try to make this plains-Sup- pose

there are in Cleveland or Toledotwo banks we will call them the First andthe Second National whereof each has acapital of one million, with circulation anddeposits to the extent of one million and ahalf. Their liabilities, immediate and ulti-mate, are therefore perfectly equal. One ofthem has no specie to speak of; but it has$100,000 in greenbacks, $100,000 on depositand subject to draft in New York, and therest of its assets in the shape of good draftsdrawn against produce shipped to this city,whereof about $23,000 falls due daily for thenext hundred days.

This bank call it the First National inour view, ia perfectly ready to resumespecie payment, though its specie is of noaccount. The other which we have calledthe Seoond National has $300,000 in coinin its vaults, with $2000 in greenbacks to-

gether equal to a third of its total liabilities,except to its stockholders. But this bankLas loaned its funds maiuly to its directorsand their cronies, who have invested them inwild lands at the far West and grand houseswherein they severally reside, and so areutterly unable to pay their notes otherwtaethan by giving new ones, ibis bans is in-solvent, in spite of its plethorio vaults, andwill collapse under the first serious trial ofits strength.

All this, we assume, is tinth familiar tomen of business; yet it seems to ns ignored byMr. Boutwell in his hoarding policy.

If nobody else wanted gold for paper, theTreasury holds far too much of it. Were itto resume it would probably bedrained in a week, not because its stock ofcoin is so slender, but because so many havea profitable use for the article. . What isneeded to enable the Treasury to resumewithout balk or trepidation is an abun-dance of gold in the hands of those whoneed or can profitably use it, with asecurity ready to be exchanged for thGovernment demand obligations, which will

generally preferred to gold. Suppose, forexample, no one wanted gold to ship, whilean American oonsol ready to be issuedranged one-ha- lf per cent, above par, withthousands eager to invest in it. The Secre-tary gives notice, "I am ready to give coinfor greenbacks, or I will redeem them in theAmerican consol" how many would askfor gold? and how much in all would they askfor? Who does not know that the demandfor gold would be trifling ?

There is some specie really needed, evnunder suspension. When the supply is boun-tiful and the need slender, the demand iseasily met. But every dollar hoarded by theTreasury diminishes the supply and in-creases the urgency of the demand. Onehundred millions dead in the Treasury in.creases the premium on gold by diminishingthe supply in open market and increasingthe dimoulty of satisfying the demand.

Whatever the amount in the Treasury, be-

yond ten millions at most, we insist that itshould be promptly and rigorously applied tothe reduction of the debt. Even if the trea-sury should be five to ten millions shortwhen a quarter's interest falls due, it couldborrow that sum for a few days from thebanks of this city they knowing full wellthat it would return to their vaults so soon aspaid out of the Treasury. When we shall haveresumed, greenbacks will be taken as gold atthe custom houses, and thus our chief needof coin obviated. Oar ouly peril is a vastforeign demand; but a country that produoessixty to seventy millions of specie per annumought not to be easily broken. All we needis to reduce our current purchases of othernations to seven millions per week while wesell tlitia to the value of ek;ht millions, andresumption will come of itself. A foreigndemand might possibly drive us back iutosuspension; but the domestic call for specienever would, unless inflamed by senselessHoarding 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 ofau.iitity exist among the Republican mem

THE DAILY EVENING TELEGUAl'11 PHILxVDELPIIIA, FRIDAY, DECEMBER 23, 1870.

bers. There are, in the first place, opponentsof amnesty in all shapes, save that of excep-toin- al

legislation relating to speciflo cases.Opposition from this quarter assumes thatthe South is still not many degrees removedfrom rebellion that hostility to the autho-rity of the Union prevails to an extent whichrenders the continuance of disabilities indis-pensable. In the next place, there are advo-

cates of complete amnesty, who bold thatthe time has come when the last vestiges ofthe Bebellion may safely be removed. Insupport of this idea it is contended that re-

construction has brought the South into thefull fellowship of the' Union, and that allcauses of animosity and irritation shouldbe obliterated. Among these causes, it isalleged, the maintenance of disabilities isespecially prominent, and their total andimmediate removal is demanded as a poace-offerin- g

no less than as an act of justice.Lastly, there is a class strong by reason ofintellect and character, which insists thatthe ltepubhcan party is pledged to as perfecta measure of amnesty as present circum-stances render expedient. The members ofthis class object to unqualified amnesty asundesirable, and to the postponement of allamnesty as unjust, and contend that thecountry is now prepared for a measure whichshall limit disabilities to a very small circle.Mr. Bingham, who is a fair representative ofthis class, declares that the proposition whichhe and those who act with him aro preparedto support would limit the operation of thedisabilities imposed under the fourteenthamendment to some two hundred personsonly. That would bring us near enough togeneral amnesty to satisfy the generous in-

stincts of the people and fulfil the promise ofthe Republican party, and at the same timewould provide for the exclusion from publicoffices of those on whom mainly rests theresponsibility of organizing the Rebellion.

General Butler's bill, the immediate occa-sion of the debate in the House, doe3 notcommend itself to the favor of any of theclasses we have enumerated. It goes too farfor some not far enough for others. It con-cedes the desirableness of amnesty; yet is soloaded down with exceptions as to render it ablow in disguise. It makes amnesty a pre-text for interrupting the coarse of justicefor stepping into courts, staying suits in pro-gress, and denying to private citizens thatredress for wrongs which the Constitutionguarantees. So many influences are j ust nowat work, governing the action of individualmembers, that it is not easy to say in advancewhat combinations may not effect for Gene-ral Butler's plan.

The extremists on either side occupy veryweak ground. The unyielding opponents ofamnesty are as unwise as its uncompromisingchampions. The middle course is that whichis most consistent with the public interests.Mr. Bingham's amendment to General But-ler's bill relieves all on whom disabilitiesare imposed by the fourteenth amendment,except those who were officers of the UnitedStates in 18G0 or 1861, and those who in vio-lation of that amendment have held officesince the first of June last. The effectwould be to render eligible for public serviceall but an infinitesimal proportion of theSouthern people, the excepted persons beingthose to whom the odium of encouraging andorganizing the Rebellion more particularlyattaches.

It is not easy to disoover in an amnestywhich is at once so nearly complete as to sat-isfy the national sense of justice, and socarefully qualified as to exclude probablecauses of offense and evil, any real peril topublic interests. Sooner or later such ameasure 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 mayberelied upon to take care of the rest. More-over, Republican majorities in the Statesmost familiar with disabilities have, one afteranother, almost entirely abolished them. Thetestimony thus supplied is conclusive as tothe undesirableness of the disabilities overwhich the States most familiar with the workins of the Rebel spirit retained control. Theexample thus afforded should not be withouteffect upon the action or congress in reference to the penalties which it alone canabolish. .

THE FENWSYLVANIA RAILROAD COMPANY AND NEW YORK.

From the Railroad Gazette.

In some respect the great system of railroads controlled by the Pennsylvania Company, which reaches New Orleans in theSouth, Denver in the West, and Daluth inthe North, has suffered from the same defectas that of the "Joy roads: it has had no independent outlet to New lork. it is truethat circumstances nave maae tnis defect lessimportant, for not only is the New Y'ork andPhiladelphia Railroad a short one, bnt itaoperations are confined entirely to New Jer-sey, and it has sought for no extensionsbeyond the Delaware. Thus it has been readyto transport traffic for anv and all parties whomight bring it to its line, obstinately and successfully opposing tne establishment of anyrival in New Jersey, and as obstinately refusing to become the rival of any line outsideof that State. So, if its requirements weresomewhat burdensome to the PennsylvaniaCompany, they were no more so than theywere to an otner companies.

But whenever there has been competitionbetween the great lines from New York tothe West, the New Jersey Company, whichshared all the advantages of the traffic overthe Pennsylvania Railroad to New Y'ork, hasrefused to bear anv part of the labor or expenso of securing it. When rates were reduced to non-payin- g prices, the New JerseyCompany has insisted on receiving its regu-lar prices, and the dependent position of thePennsylvania Company has compelled it toaccede to its demands. The immense business which the Pennsylvania Companv hajbrought to the New Jersey road at Philadelphia has not been obtained without eff ortand expense. Agencies all over the,Union, acostly system of advertising, favors to shippers and others who might influence tratfio.have had much to do in attracting this im-mense business, and the entire expense hasbeen borne by tne Pennsylvania Company,The New Jersey Company ha,s quietly takentne tramc ana us pay ior carrying it.

Last spring, when there was a contest as tothe capacity of tne different liQ68 for speed.and the Pennsylvania Company deemed itnecessary to run a train between New Yorkand Boston at the fastest rate possible, theNew Jersey Company, which, by reason ofita low grades, straight line, and perfecttrack, is able to make as fast time as anv linein America, refused to change its schedulefor this fast train, and required three hourand a quarter for the ninety miles betweenPhiladelphia and New York for a train whichcame over the mountains from Pittsburg toPhiladelphia at a more rapid rate. Yetthis company shared whatever advantage wato be gained by this fast traiu. So it has beencontinually. WUaUvar alvaaUga was tj be

ained for both roads, the Pennsylvania hasf een compelled to pay for.Thi-- t dependence for a New York outlet has

led the lines through New Y'ork to assums anadvantage over the Pennsylvania routs ia allnegotiations between them. When theobservance of certain conditions was pro-posed, and the Pennsylvania had acceptedthem for itself, but has said that it could notbind the New Jersey road, Commodore Van-derbi- lt

would say, "Then you haven't got aline."

It is reasonable to suppose that the Penn-sylvania Company has not been contentedwith the situation. But it was by no meanseasy to improve it. An outlet further north,by the "Allen town Line," may have beenwithin its reach, but to use this it must turnits through traffic from its main line 10!miles west of Philadelphia, and in so doingtake business away from instead of throughPhiladelphia, which it was built to serve, andwhich is a part owner of the railroad andchooses three of the directors, wjnilo sixteenout of seventeen of its directors are residentsof that city and many of them intimately interested in its prosperity, io obtain the hewYork and Philadelphia road seemed well nighimpossible. It is the property of the "UnitedCompanies of New Jersey, which own,besides, the old Camden and Amboy R til-roa- d,

and five shorter New Jersey roads, hav-ing a mileage altogether of 1(!." miles. Theyhave a controlling interest in fourteen otherNew Jersey railroads, from 2$ to G'.t mileslong, having in the aggregate a mileage of

(.0 miles. They lease two other railroadswith a total length of 01 miles. They ownalso the Delaware and Raritan Canal, C."

miles long, one of the great coal carriers ofNew. Jersey. They operate 410 miles ofrailroad line, lOG of which has a doubletrack. At the end of last year its propertyrepresented a capital of f r,;!,(i',):t,( 81. Onthe stock, amounting to more than $17,000,-00- 0,

it has nsnally paid r per cent, dividendsfierui-annuall-

It is cow reported that the PennsylvaniaCompany hns leased this property, and willopeiate it in connection with its other lines.Reports of this kind are not to be acceptedon mere rumor, bnt in this case there arecircumstances which make it at least proba-ble that the report is true. The Pennsylva-nia Company has been making a general andminute examination of the property such aswould enable it to understand its value andbargain for it intelligently. According tothe report published in New lork, the Penn-sylvania Company is to have a permanentlease of all the lines owned by the unitedcompanies at a rental of $4,000,000, which isten 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 payingten per cent, dividends, it is perhaps not inexcess of the earnings or tne property here-tofore, while there is very little doubt thatthe Pennsylvania Company, with its thou-sands of miles of road in the West and South,can use the property to greater advantagethan its present owners.

SUMNER ON SAN DOMINGO.From the A. Y. World.

Wednesday was a lively day in the FederalSenate. Mr. Sumner wns twice on the floor,and each time in a role winch is mildly cha-racterized by calling it sensational. Earlyin the day lie rose to a personal explanationin a matter which seemed big with a sup-pressed duel. The Patriot, the new Demo-crati- c

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 bythe stiff refusal of the President to entertainany proffers towards a reconciliation. He saidthat Sumner had traduced and belittled himin executive sessions of the Senate, in thestreet care, in bis lecturing tour in ihe West;and that if he (Grant) were not restrained byhis official dignity he wouldcall Sumner to a personal ac-count. According to the same reportGeneral Babcock, one of the President'sconfidential pets, said that he would chastiseSumner after the fashion of Brooks, if itwere not for his intimate relations whichmight compromise the President. Mr. Sum-ner took a good way to advertise this article,and supplemented the account with somevery piquant particulars. It seems that heknew of the intended publication two orthree days ago. There was a great prelimi-nary flutter, and a running to and fro bynews-monge- rs and quidnuncs to procure acontradiction to go forth with the article.Mr. Sumner gave these busybodies no satis-faction, because he had determined to putforth a denial in a more conspicuous andauthentic way. lie made it appear that thereis no colorable ground for a duel, and thatthe muzzled threats of one had proceededupon a misapprehension of the facts. Heappealed to Senator Morton and SecretariesFish and Boutwell to support his assertionthat he bad not Bpoken in unbefitting termsof the man whose great station enforces akind of deference that could not very well bepaid to his personal qualities. All which wasvery well managed to put expectation ontiptoe and draw attention upon the scathingspeech the Senator was intending to driveragainst General Grant at a later hour of thedav.

In due course of proceeding the San Domingo job came up, when Mr. Sumner sailedinto the debate like a frowning three-deck- er

with every gun loaded to the muzzle. Broad-side upon broadside he poured into the President, accusing him of imitating Presidentslierce, imcnanan, ana Andrew Johnson latheir worst and most fatal blunders. Senator Morton, who was the President's nextfriend on this occasion, kept trying to interpose a word, or a question, to shield hispatron rroin the cannonade; but to no pur-pose. Sumner refused to be interrupted,fin1 snncalail tr fHa maaiilinn nftiiav ttect him in his right to the fioor. lie toldMorton that if he was the President s friend.he ought to go to him and dissuade himfrom the stupendous folly he was striving tocomnjit. men, rising into a canamvs tnaorastrain, Mr. Sumner directed his speeoh to theVice-Preside- in a thrilling apostrophe toarrest General Grant on the edge of the fatalfrecipice. Go to him, said Sumner to Colfax

you who stand next in officialdignity and in the favor of the Republicanparty, and w arn, entreat, expostulate, remonstrate, and labor with him, and try, if possible, to save him, the party, the country, andthe national honor, from the terrible plungethe misguided and stubborn man is bent onmaking ! This is such an appeal as was neverbefore heard in the American Senate. It isasking the mate of the ship to seize and bindthe captain and prevent his doing mischief,General Grant s namesake, Ulysses of old.caused himself to be bound to the mast bybis shipmates in passing between Scvlla andCharybdis lest the syrens should get the betterof him; but even he, wise as he was, wouldnot have brooked a mutiny by the crew to accomplish the same laudable object.

This is war. Peace between Knoinsr andGrant there can be tine after such a spsech

and explosion m the Senator has made.If such advice as he gave the Vice-Preside-

nt

is needed, the President is too evidentlyunfit to be at the helm; and as he is a man,with at least the average sensibility to affrontand capacity for resentment, he can neverforgive Sumner for this pitiless onslaught.So the breach widens between PresidentGrant 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 theincome tax, a reduction of customs duties,and the purchase of San Domingo; and theseparticular 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 ofGeneral Grant on these subjects, so far as hecan be said to have a policy, are some of themost distinguished members of the party,of whom Senators Trumbull, Sumner, andSchurz are samples. And the debates inboth branches of Congress show that thesedifferences of opinion are of so radical andirreconcilable a character that they cannot bebridged over by temporary expedients.

What does all this mean, and what does itportend? The record, standing, and charac-ter of the men who take this independentposition against the administration give assurance that they are in earnest, and intendeither to compel it to cdme back to the oldRepublican ground, or to go into the minority in the country at large, and that by persisting General Grant must run the risk ofbreaking the Republican party in pieces.

Shall the party then be ruined, or will itmake an effort worthy of the exigency tosave itself from destruction? There is nota shadow of doubt that the leaders in thisresistance to General Grant, together withthe great body of the rank and hie who sym-pathize with them, are hostile to his reno ruination for the Presidency. If, then, thoseRepublicans who care more for principles(ban men, and who sincerely desire the harmony and continued supremacy of the party,would open a door for obliterating differencesof opinion in its ranks, let them insist thatthere be an authoritative declaration fromthe proper quarter to the effect that underno circumstances is General Grant to be acandidate for This stumbling- -

block removed, and the path is dear for areunion among Republicans on matters aboutwhich thev are now at war. If this is notdone, the breach will, widen, and the partyfall a prey to its antagonists in the contest of1872. Shall Grant or the Republican partygo under ? That is the question.

AN INDEPENDENT PHILADELPHIASCHEME.

Fvm the S. Y. Herald.Philadelphia, it appears, has resolved to

establish an American line of Bteamers toLiverpool, and the wiseheads and capitalistsof the coal and iron state nave combinedupon this question. A railroad company isat the head of the movement, and the basisof success, it seems, is placed upon the capacity of the railroads to bring produce fromthe West at lower freights than the New Y'orkrailroads are doing. Now, this is a questionof competition between the railroads of the

two States, and they will have a good deal tosay to the success of the new transatlantic line. That New York has no Americanline of steamers running from this port toEurope is a deplorable fact. It is more thanthis it is a reproach to our spirit of enter-prise. If Philadelphia is fortunate enough toestablish a paying line, so much the better.However, the scheme seems to be at presentto a certain extent inchoate. No companyhas been organized, but at the same timethere seems to be considerable capital realized by (subscription. The PennsylvaniaRailroad Company, who are the controllingspirit?, subscribed four hundred thousanddollars, and the Board of Trade contributedon behalf of the merchants of the city halfa million dollars. It is proposed to buildfour iron steamers of two thousand eighthundred tons, two or them to be constructed at Wilmington and two on theDelaware somewhere contiguous to Philadelphia.

AH this looks as if our provincial neigh-bors meant something practical. The funnypart of It is that the projectors or the schemeare so determined that it shall be a Philadel-phia enterprise pure and simple that theyhave resolved that the village or Iew Yorkshall have no hand in it. New Y'orkers, wepresume, cannot even bay stock in the company when the company is formed; yet it isnot at all unlikely that New Y'ork capital willtake a band in, and a pretty full one, too,if the enterprise carries any color of sacoesaabout it.

It is an excellent thing to see the prospectof an American line of steamships, built inour own ports and carrying our own flag,sailing once again upon the Atlantic If thisenterprise succeeds the whole country maywell be proud of it. But what has New Yorkto say in the matter ? Is she going to playthe laggard lorever i .

SPECIAL. NOTICES....V-- AMERICAN LIFE INSURANCE COM- -

PANY, WALNUT Street, southeast corner ofton rtn.

NOTICE. The Annual Meeting of the Stockholders of this Company, for the election of ThirteenTrustees to serve for ta ensuing year, will be heldat the (mice on MONDAY, January 8, 1971, between10 A. M. and 18 0 clock noon.

12 si lot JOHN S. WILSON, Secretary.

OFFICE UNION MUTUAL INSURANCECOMPANY, 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 Electionfor Directors, will be held at the ofilce of the Company 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 bouiaon MONDAY.

lock P. M.. whenan election will be held for twelve Llrectors to serve

12 19 tJ . Assistant Secretary.

FAEMKKS' AM) MECHANICS' NA- -TinNAI. HANK.

Philadelphia. December 8. 18T0.

The annual election for Directors of tnls Bankviii i, hHirt at the BanklDK House on WEDNESDAY, the 11th clay of January next, between thehOUrS 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.

for Directors of this BankThe.... annual. .. . election. . . . I . i , 1 rrirojTiA V

Will be neill at inn vauiuig auuio uu iwmoL'a,the 10th day of January next, between the hours of11 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 atthe Banking-hous- e on TUESDAY. January 10, 1S71

between the hours of 10 o'clock A. M. aud 11o'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. fourthStreet.

Pbimpblphia, Nov. 30, 1970.DIVIDEND NOTICE.

The Transfer Books of this Company will be closon Wednesday, the ltth.of December next, and ropened on Tuesday, the loth of January, 1971.

A dividend of FIVE TEU CENT, has been de- -clared on the Preferred and Common .Stock, clearof State tax, payable In cash on the STth of December next to the holders thereof, as they shall ataaregistered on the books of the Company at the closeof business on the 14th of December. AIL payableat this ofilce.

All orders for dividends must be witnessed andstamped. s. BRADFORD,

HI 6w Treasurer.

jy-- OFFICE OF THE PENNSYLVANIAMA1LKUAU UUail'AINY.

PnaiDKLPnu, November!, 1S70."

NOTICE TO STOCKHOLDERS.The Board of Directors have this day declared a

semi-annu- al dividend of FIVE PERCENT, on theCapital Stock of the Company, clear of Nat ional andState taxes, payable In cash, on or after November80, 1970.

Blank powers of attorney for collecting dividendscan be had at the office of the company.

The office will be opened at 8 A. M. and closed at8 P. M., from November 80 to December 8, for thepayment 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 CambriaIron 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 toserve for the ensuing year.

JOHN T. KILLE, Secretary.Philadelphia, December IT, 1970. 13 IT im

PHILADELPHIA AND READING RAIL- -

StreetPhiladelphia, Dec. 13. 1870.

Notice Is hereby Riven to the Stockholders of thisCompany that the annual meeting and election forPresident, six Managers, Treasurer, and Secretarywill take place on the second MONDAY (9th) ofJanuary 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, payableon me xan inBi.

Traosfer Books will close on the 20th lost, andreopen 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 CoalCompany have this day declared a dividend ofTHIRTY CENTS per share, clear of State tax, payable on January 8, i8ti. Tne transrer dooks will beclosed 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 thisbank will be held at the Banking House, on TUESDAY. January 10, lSii, between tne hours of 10o'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 STREETMISSION, on CHRISTMAS DAY (Monday), at 18o'clock, at the Mission-hous-e, No. 619 BEDFORDStreet

Donations In Money, Poultry, Provisions, andClothing thankfully received by the undersigned.

Donations towards the erection of a Building onthe South street front of Lot earnestly solicited fromour Benevolent Citizens.

All friends of the Cause cordially invited.Edmund S. Yard, No. 2(9 Spruce streetJambs L. Bispham, No. 710 S. Second street.Jacob II. Burdsall, No. 1121 Chesnut street.Gkokgk BIillikek, No. 823 Arch streetCharles Spencer, No. T Bank street.Oeokoe Perkinpine, No. DO N. Fourth streetEdmund A. Johns, No. 413 Arch streetW. H, Heisi.er, Seventh National Bauk, Fourth

and Market streets. 12 17 swtlif 4tTEev. John D. Long, No. 619 Bedford street

R-B- TURNERS UNIVKK8S li NEUR&LWAPILL IS an UNFAILING REMEDY for Neu-ralg- la

Facialis. No form of Nervous Disease fallsto yield to its woncieriui power, tven in tne severestcases of Chronic Neuralgia its use for a few daysaffords the most astonishing relief, and rarely fallsto 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-lur- ed

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 ANannllcatlon will be made at the next meeting

of the Ueneral Assembly of the Commonwealth ofPennsylvania ror tne incorporation or a liann, inaccordance with the laws of the Commonwealth, tobe entitled TUB IRON BaNK, to be located at Phi-ladelphia, with a capital of one hundred thousanddollars, with the right to Increase the same to onemillion 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 ANapplication will be made at the next meeting

of the General Assembly of the Commonwealth ofPennsylvania for the Incorporation of a Bank, in accordance wit n tne laws or tne (janimonweaitn, tobe entitled the amekiu&n icxuiiauk uanh,to be located at Philadelphia, with a capital of twohundred and fifty thousand dollars, with the rightto increase tne same to one million qoiiars.

BATCHELOB'S HAIR DYE. THIS SPLENdid 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 injure the Hair or Bgittem." Invigorates the liair analeaves it aort and beautiful : Black or Brown.

Sold by all Druggists and dealers. Applied at theFactory, No. is BOND Street, New York. 14 itt mwi

sa- - NOTICE W HEREBY GIVEN THAT ANapplication will be made at the next meeting

or the General ASBemDiy oi me uommouweuim uiPennsylvania for the Incorporation of a Bank, Inaccordance with the laws of the Commonwealth, tobe entitled THE KEYSTONE STATE BANK, to beiu nti at PidiadelDhla. with a capital of two hundred and fifty thousand dollars, with the rightto iacrease the same to five hundred thousanddollars.

FRENCH BAZAARw FOR TUB BENEFIT OF THE VICTIMS OFT1TR WAR IN FRANCE.

To be held at CONCERT HALL, from Decemberthe Hth to December the ttn, CHRISTMAS vj.

An aDDeal Is respectfully made to Philadelphia,the State or Pennsylvania, aud all other States, tocontribute in gifts or money towards our Bazaar Inbehalf of the Sufferers in France. The ladies Inrharse of tables will eratefullv receive any donations made iu favor of the couutry of Lafaytttte audKochambeau. ADELK piuut. rreaiaenu

H 8 if C JACOB, Secretary.

tSf NOTICE IS HEREBY GIVEN THAT ANapplication will be made at the next meeting

of the lncra! Assembly 0 the Commonwealth ofPennsylvania for the incorporation of a Bauk, la

be entitled THE STATE OF PENNSYLVANIABANK, to be located at Philadelphia, with a capitalof five hundred thousand dollars, with the right toncreaae the same to tea uimuon aona.ru.

tS THE UNION FIRE EXTINGUISHERCOMPANY OP PHILADELPHIA

Mann fact are and sell the Improved, Portable FireKxtlBguUher. 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 meettaof the tieneral Asaembly of the Commonwealth ofPennsylvania for the Incorporation of a Bank, in ac-- 4

corrtsnce with the laws of the Commonwealth, to bentitled THE ANTIIKAC1TE BANK, to be locatedat Philadelphia, with a capital of Ave hundred tha-san- d

dollars, with the right to Increase the same totwo 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 ANapplication will be made at the next meeting

of the General Assembly of the Commonwealth ofPennsylvania for the Incorporation of a Bank, laaccordance with the laws of the CornmonweaUh, tobe entitled THE NATIONAL BANK, to be locatedat Philadelphia, with a capital of one hundred thou-sand dollars, with the right to Increase the same toone million dollars.

WATOHEB. JEWELRY, ETCGifts) Gifts!! Gifts!!! Gifts!!!!

No. 56 Tt. EIGHTH Street.

Latest StylesFASHIONABLE 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 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. VESTCHAINS, BOSOM STUDS, SCARF PINS, Etc

juim)-"-!- , tieuoiiiK, ni'iii, muss Afiue, Diuuaai,Amethyst, Pearl, etc., etcSLEEVE 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 ourcheap and low-pric- Jewelry. Articles sold else-where for one dollar we are selling for 50 cents andless.

12 20 4trp No. Mi N. EIGHTH Street.

"CHRISTMAS PRESENTS.

Watches,Diamonds,

Jewelry, andSilverware

In threat Variety.A fine assortment of BAND and CHAIN BRACE-

LETS, OPERA CHAINS, NECKLACES, Etc. Ourprices 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, strikingboar only, or striking quarters, and repeating houron 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-proo- f.

Burglar-oroo- f.

MARVIN'S CHROME IRON8PHERICAL

JBurgla-i- r HaloWill 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-han- d Safes of dlffereamakes and sizes, for sale VKHT LOW.

Safes, Machinery, etc.; moved and.holsted promptlyand 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-GLASSE- S.

SWISS CARVINGS, embracing almost every-thing, at moderate prices, rangiug from 50c. up-wards. Direct Importation from luterlaken. Thecelebrated

ROGERS GROUPS,Sole Agency. Two new subjects now ready.

PORTFOLIOS. EASELS. New Folio-stand- s,

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.R 8. R. DILLON,jyj

NOS. SS3 AND 831 SOUTH STREET.

FANCY AND MOURNING MILLINERY, CRAPEVEILS. .

Ladies' and Misses' Crape, Felt, Gimp, Hair, Satin,Silk, Straw and Velvets, Hats and Bonnets, FrenchFlowers, Hat and Bonnet Frames, Capes, Laces,Silks, Satins, Velvets, Ribbons, Sashes, Ornamentsaud all kinds of Millinery Oooda. - : 1

"TOnrFARNUlf 4X)T7COMMIS3ION MERJCI hAat .sdlMuafbotsrar o Oasteuk Tlakiajr. Mlsis. M uaiwmiUi' iwwi raiixl.linna. sibst i

A