New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-05-28

is declining The market here has been too gutted
the past season. which has led to great limitation OF
orders There is heavy supply OF British Serges
which drag on the market.
The accounts of the Bank of France for
the week ending s. inst, show the following re
suits
Bullion fs2 l73,S2S Increase. .fli6Sa
Bullion on deposit l50i76 Increase 2ago3
CrculatOn.....--- s0,2s2sIs Decrease isS1os
Public deposits 39Ol.s6l Increase 1850
Private depostS 67s Increase. 2e3 36S
Bills discounted - $50 Decrease . l922S2
Comment securities 7,O39sO9 Increase lIs7s
1t is now denied that the Michigan Cen
tral Railroad cars get around the south end OF Lake
Michigan under the supposed rights possessed by the
New-Albany and Salem Road. and transferred by that
Company to the Michigan Central The New-Albany
and Salem charter authorizes the construction OF q
road from the Ohio River opposite Louisville to Sa-
lem 40 miles. and amended So as to allow the Com
pany TO borrow money for constructing such road 10
Salem and such other point OF points as said Com
pany may deem expedIent." This Is now to be con-
strued into right 10 build road nom the Central
Road to the state line of Illinois, overlapping some
two hundred and eighty miles IN Indiana. The
Northern Indiana Road have, alone, as we under
stand 1t, the right to build road around the foot OF
Lake Michigan, and in connection with the Michi'
gan Southern Will form complete line from Toledo
to Chicago.
A meeting of the creditors of Messrs.
HOLSTER is to be held In this city tomorrow Al this
meeting. we understand, proposition will be made
10 the creditors which ii accepted, will, II IS thought
give them the full amount OF their claims IN real es
tate and other property. This settlement VIII also
relieve Messrs Austen spcer OF large Liabilities
and place their Indebtedness proper on much better
basis.
The trustees of the Illinois and Michigan
Canal have recently had a meeting in Chicago, at
which they made the following regulations of tolls
A reduction of ten per cent. upon the weight Of
corn in the ear. TO take effect the first Of June.
To charge no tolls on the Calumet Feeder after
the close of the present month.
change In the mode OF collecting drawbacks,
making the same payable to the consignor or his
order.
This reduction in the weight OF corn in the ear is
10 relieve the owners OF corn, who wish 10 have it
shelled by machinery in Chicago, from paying toll
the cob
The work on the Cleveland and State Line
Road Is being prosecuted with energy. s. w Ro-
berts ESD the Engineer IN Chief Of the Pa and Ohio
road has been over the line between Pittsburgh and
Beaver and states that the work Is all in state OF
forwafdness and that nothing will prevent the cars
running over the road between Pittsburgh and Brgh-
ton by the LIST July bat the want Of cross ties The
officers OF the Company doing everything In their
power 10 remedy the difficulty.
The Baltimore Patriot says -
There IS still "a very active demand for money at 10
al 10 per cent on the most approved paper, 1t Ill
per month on good to fair names. better feeling,
however seems 10 prevail between borrowers and
lenders and the impression generally entertained in
the monetary circles is that more easy condition
Of things may be shortly looked for
The gross earnings of the Georgia Rail-
road and Bank for the year ending on the 3ls March
last, have BEEN
Deduct 5o5,o1s
Net prOht ttzOooo
equal to lOl y cent profit on the siOOOOOO capital
Seven 2 cent was paid b the stockholders, and the
balance S40e s5 carried 70 the credit Of surplus fund,
which, added to a previous surplus fund.- leaves that
fund at s2O2, OO2. The company has s797,27O seven
ID cent bonds outstanding but, on increasing their
capital 10 100000 about two years ago. they proVd-
cd for the redemption Of most Of these bonds as they
fall due by the stockholders having 10 pay yet re-
mander Of S546T43 OF tins new stock This amount
Of stock being from time TO time paid up in cash, the
bond debt as above stated Will be diminished that sum
and leave but ESQ 527 Of bonds outstanding
The Pennsylvania Legislature at its late
Session adopted the following resolution
" Resolred, That Committee Of three be appoint
ed, who are hereby authorized and empowered 70
SIT after the adjournment Of the Legislature, at such
places as they shall deem expedlcnt 70 take lesmo-
ny and geHeTaiy % aDesfigate The affairs Of the Det-
qirore and Hudson Canal Company, with reference 70
the resumption Of that work by the Commonwealth,
and to report TO the Legislature. The said Commit
tee are hereby authorized ~ send for persons sud pa
psrs, and 10 administer oaths."
1t is understood that the Committee Of Inyestga-
ton will meet in Honesdale on the twenty-hfh day
Of June and, after finishing itssbors there, viii pro-
coed TO Carbondale John n. Reed, Esq, Of Phila
deiqhla has been retained as counsel for the Com
pany. II appears that in the original cnaner oil the
COMPANY the State reserved the power TO resume all
the rights liberties and franchises granted upon Ger.
tain conditions It was stipulated that II, at the end
Of thirty years II should appear upon examination.
,ha, the profits of the work had been sufficient 10 re-
isDb,,rse the whole sum expended In construction,
repalrs and superntendence, with interest al the rate
of 6 ID cent per annum, the work should then belong
to the State and Il further stipulated that II
the expiration Of the thirty years it should appear
that the profits arising from the work had not been
sufficient TO reIay the cost Of construction repairs
and superntenience with interest, the State should
have the right Of resumption upon making up the de-
felt This pEoyiso attaches only 10 the Canal, iof
the reason that the privilege To construct the Rail-
road was granted subsequently, and without any
such conditions The report Of the LeglsiatTe 'o'n-
mittee further states that there is abundant 'ea'on
believe that the profits Of the work have more uian
paid all the legal charges against H. 20 h~' 'ns |o'n
monweath will be- entitled, IN 1898, 70 en'ef upon
the possession Of IL. without paying tne Company
4oIls, In conclusion the report recommends he
resumption Of the work BY the state.
~ 70, Markets see Esghts Peg. "a