_, specie to ”

792

AMERICAN RAILROAD JOURNAL.

—v— .

,_fi ,, ..
ness has been in Missouri 6s at an advance of 1/1,
Tennessee 6s of1/2, Virginia 63 of 1, Indlana 5s of

1%, and in California 7s, 1875, of 6 per cent. The ’

rise of about 10 per cent., on these latter since a
fortnight, is due to the fact that the funds des-
tined to pay the interest of January next have al-
ready been placed in the hands of the agents at
New York; the favorable news in general as to
the stability of affairs in California has doubtless
contributed equally towards this movement. In
regard to City and County Bonds, besides some
transactions in Milwaukee City 75, and Montgom-
ery Oounty (is, we have nothing to notice. There
have been for some time more sellers and buyers
of this class of securities. There has been aimed-
erate business in Railroad Bonds, with the excep-
tion of Illinois Central Constructions, in which the
transactions have been large, closing at a rise of
2%, on last week. At private sale very little has
been done, and we only know of a few small trans-
actions inlBurlington and Missouri first mortgage,
in La Crosse and Milwaukee first mortgage, and
in the various issues of the Milwaukee and Mis-
sissippi Railroad. We introduce in our quotations
the first mortgage bonds of this last company on
the Wisconsin Southern Branch, and give below
some details concerning the state of advancement
of the construction on this branch, as well as on
the principal line. The transactions in Railroad
stocks have been very large, with less activity at
the end of the week, and lower prices. The prin-
cipal business has been in New York Central, at
an advance oflg; Reading, of 11/4; Chicago and
Rock Island, of 5% per cent; in Eric, at a. decline
of 1/4 per cent; in Cleveland and Toledo, of 3/4; in
Michigan Southern, of 3/4; in Michigan Central,
of %, and in Cleveland and Pittsburg, at a decline
of 2 per cent. Panama has risen %, and Illinois
Central }g per cent., for loans on call. Paper, 8a.12
per cent., according to class and length.
DE COPPET & CO.

 

firm for this mail, with considerable activity in
Sterling and Francs. CAMMANN &. CO,

American Railrond Journal.

-a-..._.

Saturday. Dccernbor 13, 1856.

Railroad to the Pacific.
We copy in another column a. bill now before
Congress, professing to provide for the construc-
tion of three railroads to the Pacific.

A measure of greater magnitude can hardly oc-
cupy the attention ot‘ Congress. If passed, it
would take from Government nearly all the "arable
domain it possesses. To this there may be no ob-
jection; but would the passage of the bill secure
the construction of the proposed roads’! When
the deserts are reached, will any company go
further '3 As no penalty is attached for stopping,
would. they not all abandon the works, as soon
as the outlay exceeded tlreincome from the lands
along the line 2 1

Again : before making extensive appropriations
to any route, would it not be well to see whether
a railroad can be built upon it. The pmcticabiltty
of the routes proposed is a matter taken for grant-
ed; a position which Congress, no more than in-
dividuals in similar circumstances, have a right to
assume. In a matter of such vital importance as
are the proposed works, our people cannot afford
to make mistakes which may result in loss of con-
fidence and courage, and postpone for years their
completion.

The public lands can undoubtedly be made a
substantial basis for at least one road. We shall
discuss this matter more at length in our now

10th inst.
New Yourr, Tuesday, Dec. 9, 1856.

The favorable tenor of the l.'l‘CGDii accounts have,
apparently, dissipated all apprehension of an im-
mediate monetary crisis in Europe, and strength-
ened the confidence which was previously felt in
a continuance of the present easy condition of
money matters on this side. Our stock market
has, consequently, had an improving tendency,
and the accompanying quotations are generally,
and, in some cases, materially higher than those
contained in our report of 25th ult. There is an
increased activity in investment securities of cur-
rent descriptions, but the attention of operators is
still attracted, principally, towards dividend-pay-
ing railroad stocks. State Stocks have been in de-
mand, and are higher and firm. The transactions in
Railroad Bonds have been to a fair extent. The
only. material improvement is in Illinois Central
'bonds—2% per cent. on Construction, and 2% on
Ereelands. Erie 1875's have declined 1 per cent.
In Railroad Shares the business of the fortnight
has been large, with considerable buoyancy in
prices, which was checked, on 5th inst., by the
suspension of a leading firm, who, for some time
past, have been operating for a decline, to an ex-
tent suflicient to exert an important and, at
times, a controlling influence on the market.-
Prices have since been unsteady, and close with
an average decline of 11:2 per cent. from the high-
est points, which were reached on the day pre-
vious to the suspension. Our present quotations,
however, show an advance of 2 per cent. in New
York Central, 2% in Reading, 6 in Chicago and
Itocklsland, 1 in Panama and 1 in Michigan Cen-
tral. Of Illinois Central the sales have been rather
limited, at 11633117. There is a.full supply of
money,,at 7 per cent. on call and 8a9 per cent.
for fisgtgelass paper, although, during the last few
“F8. *4’ ' bpnks, in consequence of a drain of
, p ._   havebeen rather stringent.
3.31}? §0!‘91§D lixehange market has been rather

  

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V IEICNIOC from Oummann do 0033 Mono!
0 rcular for the European Steamer of the

 

Philadelphia Ralhvny Agency.

This Agency was commenced in 1852, by the
late 0. A. Norris, and continued by him until his
death, in 1854. Mr. THOMAS M. CASH, his succes-
sor, whom we have frequently met both in this
city and Philadelphia, is a gentleman well quali-
lied to fill the place occupied by Mr. Norris.

By an Advertisement of Mr. Cash in another
part of the Journal it will be seen that in addition
to his ordinary business, which we understand is
in a most flourishing condition, he has leased a
large building in Walnut st., Philadelphia, which
is fast becoming one of the principal business
streets in that city, in which he proposes to estab-
lish a depot for the exhibition and sale of every
description of machinery ; and if suificient induce-
ment is held out by the manufacturers of the
same, proposes to erect a steam engine of sulfi-
cient yower to run any machinery that they may
desire to exhibit in motion-—thus making his es-
tablishment an attractive resort for American
manufacturers, as well as those who are desirous
of purchasing.

Mr. Cash is we believe the sole agent in Phila-
delphia for the sale of the celebrated Lowmoor
Tyres, made by the Lowmoor Iron Co. of Eng-
land, of which Messrs. W. Balley Lang &. Co. are
the accredited agents in this country.

Messrs. M. & J. Wing, proprietors of the Jericho
Works, Shcflield, Eng., manufacturers of steel,
files,,saws, etc., have appointed Mr. Gas: as their
Philadelphia Agent.

Car Wheels, in rough or on axles, from the ce-

L

lebrated Works of Messrs. Whitney do Sons of

may
Philadelphia, and Messrs. Bush dt Lobdell of Wil-
mington, Del., and other celebrated makers.

Mr. CASH is also agent for the Railway Turn-
ing and Sliding Tables, and Pivot Bridges which
are manufactured upon a new and economical
plan by Messrs. William Sellers do Go. and are lit-
ted with Parry’s Anti-Friction Box,” thus enabling
one man, to turn the largest table together with
engine and tender, without the intervention of
gearing—and being made of iron aro:no't liable to
get deranged.

Mr. CASH also proposes when established in his
new store, to keep constantly on hand a full as-
sortment of samples of articles required by rail-
way companies, car builders, machinists and
others, afull description and enumeration ofwhich
will be found in a circular recently issued by him
for general circulation. Those desiring a copy
can be supplied, together with any further inform-
ation, by addressing Tuomss M. Cash, 12 &. 14
Walnut St., Philadelphia.

Chicago, Alton and St. Louis Railroad.

We give in another column the circular ad-
dressed to the bondholders in this road for the
purpose of securing their assent to the proposition
submitted some time since for the adjustment of
the affairs of this company, and to relieve it from
its present embarrassments.

The Lpcomotive.
N 0. 9. ., .
Br Tnnonons: Knausou, Civil and Iileclraizioalfiirzgizzecr.
-Passing from the fire box to the smoke chamber
are the flues; round tubes of iron, brass or cop-

comoustion. The end of the tube entering the
sheets is by some builders bevelled oil‘ and a steel
thimble driven on to make the joint quite tight.
Others again bevel the sides of the hole in the
flue sheet and finish it up with an iron thorn,
after which the tube and thiniblo are fitted. Thus
the joints are secured and the head of the boiler
is grasped by the tubes as in the case of an ordi-
nary dovetail, in addition to the fastcnings of
stay-bolts as in the other walls ol‘ the fire box.
There could exist no objection to this arrange-
ment, were it not that, by this process, the ends
of the boiler are drawn in towards each other, and
the very cifect is induced that we seek to prevent
——namcly, the loss of steam by leakage, produced
by the unequal expansion of the metals used.
This may be illustrated by a sudden extinguish-
ing of the lire, when the dues will jut out in con-
sequence of the concavity in the sheet, the thinn-
bles will become loosened and slip out of the
tube. If the thimbles are of soft iron a slight ex-
tension of the tube will reduce the diameter and
the thimble is driven in, hence does not press so
powerfu.ly against the shoot, but leaves aleaky
joint. This danger will not exist where steel or
hard iron are used.

For the construction of the fines, it has been
found most profitable to use brass in coke burning
locomotives, while copper and i_ron will answer
for wood burners.

The diameter of the flues and the length de-
pending on the results of experience and the de-
mands on the engine are, the former 15 to 2}
inches; the latter varying from 10 to 14 feet.
The number is from 100 to 300 according to the
amount of indirect heating surface required. A,

per, to allow the escape of the  w-»by-