The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-05-23

long loan have reached prices which induce many
holders to realize and the amount sale is larger
than usual Capitalists appear disposed to part with
stocks at present prices for the purpose
N investing in deprecated State securities that they
may have the benefit of any improvement.
The receipts to-day, at the Office of the Assista ut
Treasurer Of this port amounted to $4,000 Payments,
$73,9l3 81 balance on hand S2072 200 &C.
The Manhattan Company of this city now issuing
Tor the first time emission of registered notes,
their circulation having been confined for years
past, to small sum in unregistered notes amounting
at the date of their last report to only S46S6 their
business being transacted with the notes Of the other
banks The new issues very handsome, but too
large being much larger than the issues Of other banks
The Manufacturers Insurance Company of Boston,
have lost absut 100000 by the fire in ST. Louis 1t is
estimated thatthe loss of the Boston companies will
amount to about 500 O00
sRThe Providence and Worcester Railroad Company
have resolved to take the dividend earned by the road
to pay its floating debt and to issue to the stock
holders stock in the proportion Of share for
every four shares of old stock. and to put 1t at
duction from the par value equal to the dividend to
which the old stock is entitled from the earnings of
the road.
The Cheshire road company have voted to pay the
dividend due to the stockholders in bonds of the
company, At 96 per cent
The Boston money market is represented as being
easy But little strict business paper was in the mar
ket, and the rates rule at per cent. There was
much complaint Of dullness of trade, in wholesale
branches.
The report of the State Treasurer of Maine; shows
that the public finances are in a favorable condition
FrrAscEs OF MAINE-SrArE TREAsURER's RrpoRr.
Amount of receipts from May l, lS4S to April 80 lS49
Balance of cash in the Treasury May lsis iae9Ys
~ .s4O2,ao 50
amount TO- 1928 800 SO
Leaving balance ON hand. -. 7sosS 20
s4o2aos 81
cal year, the Treasurer states at. $3.50 257 81
Estimated expenditures at. .......... 3Sl 3O7 40
The liabilities of the State to gu 9l4 81
These include the public funded debt as follows:-
Due and uncalled for So 900 due in 1850 100000 do
do 1851 $36S 6O0 do 1852 S1SOOO; do 1854 $40 600:
do 1855 $270O00 do 1866 $l32 500; do 1860 S5S 600
The resources Of the State stated as s9447O5 Is
The heaviest amoun of the public debt becomes due
in 1851 and the Treasurer suggests that tho United
States stock belonging the reserved towards
ITS payment He also suggests that authority be
given to redeem when the condition of the Treasury
will allow any scrip falling due in 1851 and previous
State will the accommodating intere st. and bring
the amount to be paid in 1851 nearly if not com pleeiy
within the receipts of the year.
The report recommends the i'm position Of State tax
of 0O0 and gives the following as the amount of
taxes since 1910 1870 500 600; lS4l 5000 OOO 1892
5000 O0 ls43 $3.50 0Oo 1874 $3.50 1s45 $3.50 OOO
1S48, 5000 900; 1847, $4,000: 1S4S 100000; l849
$2OOOoO, due January 1850 1t will be perceived that
there have been for 100000 two for
$4,000, and six for 100000
The Chicago Democrat of the 18th inst gives the fol-
lowing account of the reduction Of salaries changes
of officers the Illinois and Michigan Canal upon tho
authority of the Secretary to the Canal Board 1t will
be that important alterations and some very
great improvements have been made:-
ILLINOIS MICHIGAN CANAL.
The salaries of the bondholders trustees have been
reduced each to 81 $780, which is the
of the salary of the State trustee.
The secrearys salary has been reduced from So 500
to $4,000 The officers Of chief and assistant engineer
have been abolished The assistant engineer only holds
over until tho business connected with his late office is
closed up In place Of chief engineer, general
perintendent has been appointed who has the super
this office His salary. which. engineer, $780,
is reduced to $4,000 Best de this officer three
have been appointed They also perform the duties Of
inspectors with additional salaries Of 500 each The
salary Of the clerk Of the secretary Of the Board has
clerk the State trustee has been reduced from $1,000
to $780, The salary Of the clerk to the superintendent
has been reduced from 81 600 to $500 The compcnsa
of the engineer at the steam works at Bridgeport
has been reduced from So 25 to So per day aud that
OF his assistant from 81 so per day to 81 25 The
nv of the collector at Chicago has been reduced from
81 600 5000. That Of the collector Of La Sale, the
ns se to e sasry
agent of canal lands has been reduced from 81 200 to
81 100. The amount of 5000 per annum has been APP
roprated for clerk hire and Office rent for the Chi
cage collectors Office There are thirteen lock tenders
employed on the canal, at a salary Of $500 each.
No change has been made N respect to their salaries
The whole reduction, thus far, amounts to tAe Of
$4,000 per annum. There is still room for further
reduction, and want to the pruning knife &C.
lively used The reduction in the salaries Of the
bopdhodcrs trustees is better late than never but it
should have been made a long time ago. Five thou
eand dollars year. for several years have been paid to
these trustees which has been drawn from the people,
in the shape of direct taxes The of complaint
has however, been removed and the salaries now paid
to the trustees the We would suggest to the
bondhoders the proprety Of reducing the number of
trustees representing protecting their interest Now
that the work is completed, and in active operation
de not the of having than two trustees
one representing the State, and the other repre-
.senting the bond holders By cutting down the
bondholders" trustees to one, further saving of
So 500 would be made and the interest of all parties
properly protected.
The Board Of Trustees has announced the following
important drawbacks upon articles passing through
the cannl -
On and after the 10th of June, 1s49 and during the
residue of that drawback of 80 per cent will be
allowed upon the following articles passing from the
Mississippi to the Hudson river Beef pork, bacon,
lard -four, talow. wool tobasco, hemp beeswax furs
s1nO.peitrle5 lbcluulnB DuHalo roDes
From the Hudson to the Mississippi a drawback Of
.25 per cent the following articles Dry goods gro
xoeres. hardware cutlery crockery. and glass ware,
cotton bagging paper saaratus, steel and vencerng.
On Snlina salt and lumber passing through the canal
frou Lake Michigan to the Mississippi drawback of
25 per cent and white lead and shot passing from
the Mississippi through the canal, SO per cent.
liberal spirit actuates the Board OF Trustees in all
the arrangements made and we have no doubt the
policy pursued will add largely to the revenue of the
work The above arrangement is calculated to attract
a large amount Of busines.
Stock Exchange.