The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1845-07-24
$49,3Ol

II $4,000
i is not known how large amount the Comptroller
IN be called upon to redeem, the assets of Of
insolvent Safety Fund Banks have not been sold.
The Union Bank OF the State of Tennessee has deca
ii dividend oftwo dollars per share.
The Boston and Fitchburg Railroad Company have de-
lred dividend Of four per cent payable the first
H OF August next This is semiannual dividend, as
interest on the stock ceased last February and the
rnings OF the road have since been applied to the de-
lraton Of this dividend. is stated that the company
i've surplus left after paying this dividend. This stock
NOV selling at twenty.four per cent advance. The
pal 1892 500 since its land purchases Its
lighting business rapidly increasing and must set
III down into regular eight per cent stock Good div
md paying railroad stocks much sought after fod
'vestment, and most of the eastern stocks comman
Il rye .advances the par value. The Maine sells
eey at Is per cent and the Providence III per cent
-vancc Worcester is held at 10; Lowell at 10; West.
IN at 81 Eastern at 81 and Concord at 80 per cent adj
n lnce. is stated that the Western will declare div
End of three per cent in September and have surplus
h fifty thousand dollars frow nett earnings
II The friends of the Northern Railroad in New York
hive taken hold of the work with a determination to
larry it through. The Western trade seems to be the
eat prize the Boston capitalists anxious to secure
II Ihe citizens of Boston have by means of the ex-
nson of railroads into every of New England
scured the trade of those States and their object
to push out their and obtain the trade of the
|gest. They seeking for more markets for their
and striving make up for their city
rtifcial advantages to Offset those which nature has
wished upon this city, the only rival Boston fears
The construction of the ogdensburg and Lake Cham
Jain Railroad will open the markets of the North and
\ Vest to Eastern neighbors much effcctuay
Gan their Western road has. They anxious to OBJ
hin a direct communication with the Lakes and the port
IL ley have fixed Ogdensburg-g them a depot
the commerce of the principal Western Lakes. The
completion of the Welland Canal has changed the chan
1es Of commerce the Lakes. Buffalo is longer at
he foot OF Lake navigaon-thc Welland Cana has ex
Tended the navigation Of the Lakes than hum
red miles the waters of the Atlantic. Lake YES
es and steam propeers of the largest class now pass
rom Ogdenshurg to Chicago, through Lakes Ontario
Erie, Huron and Michigan distance of nearly two
thousand miles 1t is estimated that -four be trans
oted from Cleveland, Ohio to Boston, by the way of
bgdensburg. after the construction of railroad from
Aat place to Boston, for thirywo per barrel
han by way Of Buffalo, and 1877 cents less than by way
tfOswego. We annex calculation made by an expe.
enced engineer of the cost of transporting -four from
Cleveland to Boston by three different routes:-
TRANSFORMATIONS OF FLOUR FROM CLEVELAND BosroN
BY BurrALo-Freight, Cleveland to Buffalo 10 cts
II Do Buffalo to Albany. -. AZ cts.
|. Railroad to Boston. ........ 40 cts.
Il Per barrel. ..... 81
BY OswEeo-Lake freight and Weand Canal tolls, tolls
I, being lately reduced).. 30 cts.
I Freight Oswego to Albany. ;. l2l cts.
i Railroad to Boston. ...... 80 cts.
fer Darrel S33
By OGDENsBURGH-Lake freight and welland Canal tolls
from Cleveland to Ogdensburgh, - cts.
Railroad ogdensburghto Boston, 43 cts.
Per barrel ......... IS
II is estimated that the whole of country border.
ing on Lake Champain could be supplied with -four by
the way ofOgdensburgh much cheaper than by the New
York Canals The people Vermont consume large ouan
titles of -four nearly the whole of which comes from the
Western States. Vermont being principal, a wool
growing State, and not adapted to the cultivation o.
wheat immense quantities Of flour would be transported
over the ogdensburgh road for consumption along il.
line and through Vermont
The navigation of the lakes open at least one month
longer in each season, than the New York canals
fns would give railroad tapping either lake-f allow.
ed to carry freight independent Of any restrictions such
as tolls, &c.-e very great advantage, and give i'm.
quantity of freight al whom produce
ally presses towards the earliest markets railroad
situated would secure vast amount Of freight besides
giving the market at its terminus almost CON-
pietc monopoly Of the trade for time When the line
oil roads from Boston to Burngton,i via Fitchburg il
completed, there will be direct railroad and steamboat
communication between Boston and Montreal suffcien,
for all the purposes of trade But regards the great
western trade, everything seems to point out ogdcns
burgh, on Lake Ontario as being tho mos
natural and advantageous place to tap the ina
vigation of the lakes. The navigation Of the ST. Law
renee below ogdensburgh represented to be danger
Gus, which would be avoided by a railroad to Lake
Champain The construction of a line Of road from
ogdcnsburgh to Boston, would open nearly the whole
Of the Canada trade to the east The estimates made in
relation to the construction of this road are of such IA
vorabe and satisfactory nature that its stock will not
remain in the market for any length of time after its ap
pearancc The movement is perhaps rather premature
as the construction of the ogdensburgh and Lake Cham.
pan road be made simultaneously with the Boston
and Burlington road. The completion of the latter
would require the completion Of the former as together
they form the line from the seaboard to the lake
The only Offset the citizens Of this city have to the 81