{"newspaper_name": "The New York herald.", "edition": "01", "page": "p2", "byline": ""}
{"character_count": 3868, "word_count": 674, "ccnet_language_score": [0.9412999749183655], "ccnet_perplexity": [1298.5999755859375], "fasttext_language": ["en"]}
The speculation which exploded in June 1874 com.
G Ss II N
June the market continued for time very much de-
pressed but just previous TO- the presidential election
many operators conhdent Of the Of the wbig
ty, got up speculative feeling, and prices advanced in
several instances beyond the point reached in June; but
the result OF the election had very unfavorabe nhu
upon the stock markets and sinoe the market has
been very feverish and quotations very unsettled The
doing Of Congress- and the exciting state of foreign
markst Ia connection with all these things the move
ments OF the banks favor those bearing stocks very much
about six weeks the bsnks Of this city and State make
their next quarterly returns to the Comptroller and in
about three weeks may look contraction Of loans
induced to believe that the banks Of th: CITY will
undergo very great contraction this quarter In copse
reduced prices Of eur principal southern and
sap es IN our and in the markets Of Europe
those sections Of the country would be very backward
would be by the reduced resources Of the peo
pe ana nst the non.payment of the merchants Of the
the credit Of merchants this city and perhaps produce
IN many instances asuspension Of payment The banks
have acted under this and governed them
generally to brokers than heretofore and ell operations
for stsck securities The banks will be compelled TO dis
discounts to brokers' or they win rsdacs them. bY
drawing them in. and make their reports in the
mKs ru transfer their ..n: snd s'as sSsS usually
counts u previous to quarter day than these previous
y opened to avoid making returns of very large stock





cularly resolution has been introduc ed into the e
gisiature enquiring into the movements of country
banks in making loans to the brokers Of this city.


In consideration Of all these operating and likely
operate upon the stock MARKET there dees not appear
the slightest prospect Of improvement in prices We
hardly believe that present prices be sustained
There may not be any material change In quotations for
state stocks, but fances must experience decline be-
tween this and the first of May next.


Just pravious to adjournment the Senate Of Maryland
passed the Chesapeake and Ohio Canal bill by majority
Of one vote The bill hxing the day tor the resumption
payment ~ the State was not passed The Committee
report If be the determination Of the Legislature TO
commence the lst Of tho ensuing July and
TO fund the interest in arear to the st Of April next
per cent the amount Of interest to be paid annually
thereafter, will be $706,74l Is, viz:


Amount Of interest on the present debt, ex-


cluding those portions OF II which are pro-


vided tor by specific appropriations, is. $62674l Is
The arrcaragos Of interest to the lst Of April,


lsa5, are estimated to be 81 600 900, which,


II funded at per cent will ada ..... so 600 90


Making ............... $7O6,74l is
This includes the interest on that portion Of the
public debt which constitutes the sinking fund.- income
Of which now exceeds S67 900 per annnn


The committee incline opinion that the revenue
the state provided by existing laws passed.
and those which have passed the present Legislature
will be suffcient to pay the whole demands upon the
Treasury augmented they would be by the funding of
the arrearages Of interest They estimate that the reve
nue. from the acts evymg taxes will produce 500 $50
exceeding the interest the debt including the interest
on the funded interest," sos a. Should these estimates
De realized the State may do full and entire Justice her
the operation Of the sinking fund, by the working OF
which, at period not very remote, the debt will be
wholly extingushed That fund amounts to $l,-
2763o6 49, having been augmented in the Of tho
ever without passing the bill providing for the funding Of
the arrears Of interest.