The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1843-04-04

ed by the stockholders of the bank at average of 81
per cent pledge of their real estate morgaged for
Si4,OOO.OOO The account stands thus =
soshS SSrSs s'ts SsIA
Difference, l62o27I 25l6
This property for the most part is valued exorbany
high, and perhaps fair its results may be
seen in public sale OF house and lot Tchoupoulas
street, recently which mortgaged to the Citizens
Bank, az follows
For IT'S shares Citizens Bank stock SIT 1900
stock loan, 67l0
Total mortgages sa4slO
Result of SALE 1000
Loss sl5elO
This was productive city property. The plantation
property with slaves and material purchased at exorb
ant prices to be paid for out Of cotton at its present and
prospective value, will most certainly not carry bank
mortgages at per cent. If the few substantial plan
ers out of debt make per profit on their invest
ments they will exceedingly we'll While they are
doing that the indebted planters will become bankrupt
The State of Ohio has long been under cloud Its
finances have been in confused state and its officers
have pursued the suspicious course OF endeavorng to
conceal state of affairs, when the most candid
publicity necessary, to sustain its credit The time
has long passed. when the unsupported statements Of
Assumed dignity will not supply the place of ability to
pay any longer The State of New York last year pre-
served its credit only by telling the whole TRUTH satisfy
ing the public that the worst is known then fearessly
graphing with the difficulty and providing for it. Under
the hafmade statements and vasclating reports of the
old officers, the State 6's fell to So When Mr.. Hoffman
made his report and displayed the side of the story
he was accused of panic-making. The Legislature how
ever promptly met the possible contingency which he
pointed out passed mill tax to meet it. and the per cents
are now at 100. The Ohio State officers have hitherto
pursued the same dsingenuous and mid policy telling
just enough to induce capitalists to believe matters much
worse than they really It is nature when
not know what may happen to u.s. to fear the that
can happen and hence is that uncertainty is terri
ble that we often seek to be fit the hazard
tain mischief Now, confused and tmd reports in matter
where mans property concerned eminently
lated to destroy confidence This has been the
of the difficulties of Ohio Ithey had forward in
first instance, and said going build and
want much money to do it, and will pay by taxation
double the amount she has could have been obtain
ed But year after year the the public have been RECALLED
with fancy sketches like "Ruggles' report" from
possessed of far shrewdncss than wisdom DECKER.
ing with banks, temporary loans and all sorts of exped
ents have been VIGOROUSLY resorted to- and then CLOSED
over in official reports Affairs have reached point
where all this becomes useless And structures on
commissioner.
Hubbard and the Auditor Mr. Brough statement the
condition of things addressed to the State stock holders
The State debt, including the issues given as
follows -
ONO STATE DEBT, 1919.
.qmr .4m't of int ar.
Payable Of debt. cruang in 1913.
FIVE per cent stock, 1850 and 1856 in
Six per, cent stock. in 1850, 1856. N''''
F,spta Bank Of COLUMBUS, Bank Of '"''''' '1'''2
o ha tate
Domestic bon IS per cent, 35l,Oi2 2Os2
per cent ISSUED to contraeoIs soOo0es M int asoo
Mama Canal. $4,000 "onA 2,752
Tenn, ,.,v loan in New yo, Sas s ss s'a
Total public debt, 1885, s6s, s27
on the perpetual investment of ST.
h s al F qnSTy psSsSs a lnna IN
at6per cent, 883oi
Total interest for the year ls4s. slO55,22e
We have omitted the cents in the column of int crest
or iNrEsEsT STATE DEBT.
Net proceeds of tolls. water rents. &c.
Taxation 5 mills on slsi. 900 oco, s7o,ooo S''''O0
Transfer of general revenue now in the
Treasury, 5000 |
Total, ST. 1000 |
The estimate given above of the net proceeds arising
from tolls is only $543l4 above the net income
year. As the entire line the Wabash and Erie Canal is
now completed, and So additional miles the Miami
tension Canal the Board of Public Works have estimated
the net proceeds this year at 100000.
This the report states the whole debt of the
State which under provisions of the Legislature
be increased beyond the given viz ST. SOL The
tolls and taxes are here given at 023 OO0 which
last S663 39 showing increase for s43 of $780,
$751; of which 1901 derived from an increase of ca
nal These follows for 1912 and ls4a
1912. 18t3.
TAXABLE property, 1888 1886 1874 900 COO |
Rate of tai, mills for 81, 224m. 5 |
363945 $4,000 |