The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-02-22
In the first four years Of this period there WINS an


In the first four y-srs Of this period there
nua decrease in tho passenger traffic Of the company
and in tbslast four years there annual increase
in this branch of business The increase Ia the income
Of the canal has been greater than in that of the rail-
road the gross receipts Of the canal in ts40 $79
4ss and In s47 sass SOL lslo Ila 27s Of coal
passed through the canal and in ls47, $4,000 tons
The State OF New Jersey derived income from this
company In 1884, In the shape of tax, Of $sl SOL 70
This is the secret of the monopoly these and ell other
companies of the State of New Jersey enjoy No other
State in the Union cursed with many monopolies
that and 80 long it draw large from
the companies already formed the prospect of others
being granted to into competition will be very
poor. We shall have to go round New Jersey In few
years In going to and coming from the South If the
Legislature Of that State becomes much restrict
ed in its internal improvement system.
The annual report Of the Buffalo and Niagara Falls
Railroad Company gives the annexed statement of the
operations of that during the past and ts
financial condition at the close
BurrALo AND NIAGARA FALLS RAILROAD.
Cost of cor.truotion to Jan l. is4s. sl7l s75 IL
Expsnsas OF running and repairing road. 1879 81
lotai expense or constructing and running
Receipt, from na,scnssr; $3.50 40
f.A.," Do gsaso, furniture, &c 3II4 %
Amount paid for dividends. 1879 SO
Number OF throu passengers, sc 294 do way do. 49,
ala do locomotives do passenger of wheels
8; do do wheels l0 do freight and baggage cars
do machine shops do horses i; average number Of
employed on 7ad, 25; number of miles run by 10.
conotives, 1886
At the mestisg Il the stockholders OF the United
States Bank, held in Philadelphia few days since the
following resolutions adopted
UNITED STATES BANK.
Resolved That the directors be requested to procure
frAv1 4haa fhraa ais
much in detai as proper and practicable Of the re-
msining which passed by the said several assign
the object of the stockholders being to obtain all prac-
ticabe information to guide them ia estimating the
Resolved That the president directors be directed
TO give public notice required by the constitution
lature fer such amendments to ths charter will
lieve the bank Of all further liability for the bonus and
subscriptions to stocks or other liabilities imposed by
the charter.
Resolved, That the committee to be appointed under
the ast resolution have power to add to their numbers
from other stockholders ct their discretion.
Resolved, That the committee have power to receive
subscriptions to deray the expenses to be incurred
der the 4h resolution and also of giving notices to
stockholders of the adjourned meeting be held in June
next and any other incidental expenses
1t has been reported that there is movement going
to gslvanze this institution; but nothing in
the above resolutions showing anything of that nature
II is impossbility to revive that concern 1t is
pstey defunc and all the stockholders will receive
of the affairs Of the bank 1t very important that the
expenses of the restitution should be reduced much
possible that the assets may be made available as
possible, and to great extent possible
The object OF the recent meeting to take proper
steps to close tho second and third trusts early
practicable The trustees have for long time delayed
dividends Of the assets they have in hand the stock
holders anxious that they should be divided and the
extent Of the claims not quidated by these assets made
hvnxv Il. xL>
the hands of the trustees of These truse sufficient to
pay of ell the claims against them The cash assets in
their hands amount to about $500 900, which, with
large amount of valuable estate IN the city Phs
delpha, and large amount OF dividend paying stocks
which may be converted into cash estimated
than sufficient to pay H the deposits and circulation of
the bank The stockholders believe by the election
of board Of directors wholly uncnnnected with the
trustees with ary interest which has managed the
Affairs of the bank for several years past tho of
this ipstitution will be much productive and the
claims liquated much and therefore much
to the satisfaction Of the creditors The heavy expense
annually paid to trustecsand counsel would bsstop
ped and the interests of all having claims either stock
holders bill holders, depostors and in any other way,
would be- better protected This trustees Of COURSE
opposed to any immediate liquidation Of the affairs Of
this bank 1t is FOE their interest lepgthen this
snes long possible for the purpose of holding to
thier fst salaries and they will not consent to any
promise and will prevent II they There
fact connected with these movements which Is not gene
rally known here 1t appears that extensive European
banking house has purchased within the year.
raj thousand shares of this stock and the holder
of about third of tho capital stock This house
large creditor Of the bank, and also large stakeholder
that 1t is in q safe position for the other Of
its claims snc perhaps from both Foreign creditors of
all defunct banking institutions have become large
stockholders, to secure their interest way
the other.
The meeting Of tho l4th Of February adjourned to
the first Monday in June, when some definite action
will take place relative to this matter upon the report Of
the committee appointed to enquire into the position Of
the different trusts.
There sbouta dozen concerns In this country SINH
lsrly situated the United States Bank and II their
stockholders do not take the matter in hand and press
their affairs to speedy liquidation, the trustees
gnees will absorb all the assets in the shape of salaries
and leave Of the creditors in the Many Of
these institutions have already been In the hands Of
trustees several years. and it chance If the assets Of
of them have not already been pretty we'll used up
Stock Exchange.
$1,000 Urea Notes boo 1923 rs shs HsrlemRR -, W