The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-07-26


Lard, ...6 2SS000 67S4 200 64O6 900
s Mss $3.50 go SO 800 900 sssoiSS
Compared with last year there has been increase
In the third week in July, in -four, of sS2 barrels
wheat, % $50 bushels; barley 22oo bushels and de-
in Of 400 bushels. For the season. thus
far there has been decrease Of 23S 24 barrels
wheat 875 O26 bushels corn, 1853 $50 bushels and
m increase in barley of 154l5 bushels
The Marine Bank Of Buffalo, With capital Of s17o,-
600 will commence operations on the 18th Of August
It il owned by Of the wealthest mon in the
State who guarantee that its affairs will be judi
sionsy conducted and legitimately administered Jas.
3. Wsdsworth Of Genesee, and Jas. p. Beekmau, OF
Kinderhook the principal stockholders
The Lehgh and SUI uehsnus Railroad twenty miles
long and extending from Wlkesbarre to White Haven
ut the head Of slack water navigation the Lee
high, has been damaged by the late freshet to
the extent Of three thousand dollars, chiefly
In the immediate neghborhood of the Planes,
wfkesharrc. On the upper section Of the
canal twenty five miles extending from white Haven
TO Mauch Chunk the boats be started for Ave hum
dred dollars and about thousand dollars will
be required to restore this portion Of the canal to the
condition In which II before the food From Penn
Haven to Mauch Chunk, the canal be put In order
In Il days 1t will probably require two weeks to
complete the repairs the upper section. The
from Mauch Chunk 10 EAston, and the worst breaches
above Allentown. Prom the latter point to Esston
the navigation will be resumed on Monday next To
repair the remaining portions Of the work, may
qure three weeks Cost Of repairs not yet estimsted
The Delaware Division be repaired In three weeks,
and the Morris Canal in three days There has been
little injury to the mechanical WORK any Of
these canals There breaches In the schuy
Hill Canal but the extent of the damage has not yet
been fully asee rtaned.
The Albany and Schenectady Railroad 10 little less
than seventeen miles long There Is double track
only opehslf the length Of the road The public In
terest and the interests Of the company require dou
Die track the residue Of the line The road cannot
be well and advantsgeeusly worked without IT, end its
construction may be regarded Indispensable This
will cost say 10000 The passenger depot In the city
of Albany IL wooden shed. snd IL contracted.
uncomfortable and nlthy anordng little protec-
tion to passengers from the weather. ana altogether
d.rosstory to the company To build suitable one,
expenditure will be required Of at least $4,000
The fret three miles Of the road bed leading from the
city OF Albany. we'll the ground which the
passenger depot stands belongs to the Corporation OF
the City of Albany, and Wa purchased by the city
about the year s45 at cost Of netting
The Of this given to the company at the time
Of Its purchase for twenty years free Of rent but
ut the end Of that time they have to buy 1t at
The compapy's freight depot grounds wholly un-
paid for. There 10 due bond and mortgage for
part $4,000. and the residue leased some i've or
three years since with the privilege Of buying at tho
end Of years at $40 600 ian annual interest Of per
cent that sum being paid, and is to continue
TO be paid In the interim This purchase will have to
be made, the pAny have erected freight build
Tags already part OF the leased grouods, as de-
pot for up freight Tn. depot for down freight is .
l.
tnplated and IL absolutely necessary to do the down
freishting business
while the company for the past two three years,
yielding to the mportunat- solicitations aud interest
ed advice 81 large spsculors In its shares have been
making Dividends examination OF Its ansnces nd
OF it, cash hand at the time these diviIsofs ~ere
declared will sbo~ hat they wholly uniusthabs.
and that the Directors voting for the may have
inside Themselves personally liable under the ssatuts.
On occasion. certainly. much doabt sas enter
tsipsd by Of the board their right 70 make
dividend that legal advice that point sought;
and although IN. opnioa given by eminent Legal
fen,leusu that a Dividend might lawfully bs made
yet contrary opinion expressed In an equally
respects BILE quarter The dividend hswever paid
but there he doubt that every consideration %
sound policy and prudence forbsde t. and there
g,nts then Ia the board who did hesitate 90
10 express themselves No indebtedness Of ths compa-
pracnchlil patns new lnueotednass hse
eonrtsntly been created TO equal ext emit;
and an examination OF It's Affairs, from year
20 year. vh show that n, ssyrcgst. indebtedness
h.s been steadily increasing aud thus will eoutinus
20 increase, with alarming rspidity thar
heretofore. unless radical chsngs " male In the
policy governing TIA affairs In jay ls7. bonds IF
n. compsuy bearing per cent interest, ssu.d
ten y.sts previous 20 that date maturrd the
ofslCo.oo0 No provision whatever had been made FOR
these bonds sud the holders required payment They
we're secured by mortxge constituting the arst lien
the road To protect the credit Of the company
and IL from utter dsgrsce the money for these
bonds vas temporarily advanced by some ofths Albany
banhs, and an sssignment Of them taken To reim-
burse the banis the officers Of tn. conpsuy from time
20 time induced parties TO take assignment OF por.
iions q these bonds and hold the past due under
prvmse 20 continue payment OF interest sent annu-
ally 81 the rate OF per cent per a. long
held sub L. the present situation Of 900 900
Of deetpast due unprovded for and liable to be de-
msnded at any moment.
stock Exehsoge.