New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-11-27


1o,q aimee our Toronto correspondent
"a Ia ,roiect OF Mr. Isaac Buchanan OF Mon
4~aI cor the establishment Of line OF Steamers
between Glasgow and Montreal Mr.. Buchanan
visited Portland the past week, the Aa'ersiSeF
saws. with view to ascertain the fitness Oh us
harbor for a steamship terminus and also Ine eA-
act condition of the Railroad enterprises in winch
Portland capital is embarked, and especially as 70
the prospects of the Montreal road In company
with Mr.. Poor, he went over the Atlantic ROAD as
far 90 Bacon Falls in Greenwood, sixty miles
from Portland. and examined all the wharves and
other localities in Portland and in the nei5hoof-
hood. Mr. Buchanan sailed IN the AFRICA i'otii
New. York on "Wednesday, and Will prooaoy
bring his scheme to the attention OF the PuoiIc
the coming Winter The plan IS to construct
three iron steamers Of 1900 tuns meaauremeht'
of the same general character as the s'eauio'
Glasgow City" each steamer capable OF carrying
6.O0O barrels of -four or an equivalent amount u
freight, with accommodations for seventy hVe
Grst.class and seventy-tive second.class P"So01
pers-tbe steamers to run alternately from ulas'
pow to Portland and Montreal, till the colnPleIloh
If the Railroad and after that to Portland direct
These steamers would cost about 100000 each
Certain New.York houses propose to join in the
carving out of this scheme.
The subscriptions to the Conhocton Valley and
Bnffalo Railroad reach 10000 on the line OF
the Road.
Money is very abundant in Boston and paperis
scarce. Stocks were advancing, and the specula
tive spirit was active again.
The total Indebtedness Of North Carolina, as
stated in Governor Manly's message to the Lee
gislature, is s3,52O,O52 This debt has been in
cured mainly in the guarantee and Endorsement
Of Bonds of the Railroad and other Improvements
throughout the State. The message says that
the surplus in the Treasury, after the payment OF
the regular demands, this year, will be 600,
while the increased demands upon it for the year
1851 will be $4,000 and for the year 1892 S207-
OOO. which is an excess over and above the whole
amount that may be raised by the present revenue
| basis in 1851 Of $4,000, and in 81 OF Sl47,00o
The Governor urges upon the Legislature to pro-
vide the means by an increase OF taxation, to
meet current liabilities, and at the same time
create a sinking fund, and adds that " the tenn
porising policy Of borrowing money to pay inter
est will be disastrous to the State will impair
her credit and may reduce her, sooner or later,
to the gnominious and dishonest condition OF re-
pudaton."
Mr. Bassinger, the Engineer of the Morris and
Essex Railroad, has published report of the sur
vey of the proposed extension of that Road from
its present terminus to the Delaware Water Gap.
| The line of the proposed extension will commence
at Dover, where the present Road terminates,
and passing through Stanhope and near Hacketts-
town, along the valleys Of the Musconetcong, the
Pequest and Beaver Brook, ends at the w alter
Gap branch can be constructed from the main
line TO Belvidere, distant only about two miles
At Waterloo. the line will connect with the Sus-
sex Mine Railroad, running from that place to
Newton. The distance from Dover to Belvldere,
including the branch is thirty-two miles the
curves are represented as favorabe, and the grade
nowhere exceeds fifty feet per mile 1t Is esti
mated that the whole cost of the Road including
the equipment OF the same, will not exceed
seO0,O0O
AT Philadelphia, there is no material change to
notice in the Money market. There is good de-
mand for money! but the banks and capitalists
continue to discount freely and the street rates
for good short paper are but q trife above the
legal rate of discount.
There was u meeting of the mechanics and
others of Lexington, KY. on Saturday last. At
this meeting a subscription of s35,oOO for the
Maysville road was reported, and resolution
adopted approving of vote by the citizens Of
Lexington and Fayette County, in favor of $780,
ooO to be equally divided between the threeroads
ON the bond principle
The committee of conference appointed by the
Niagara and Detroit Rivers Railroad and the
Great Western Railway Companies have held
their ses sion, and determined to abandon the
Port Sarnia route, fixing the Western terminus
opposite Detroit. Laborers are to be upon the
ground to commence the operations early in the
Spring.