New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-03-06


from the West.
1l..-- II ia mt I'D ia single Bonds with suit
III 1.i,Tses Of a larger amount. These Bonds
r INNS Of o., 600 each, dated on che first O
Tebruary. 1851, and are payable in twenty years
They bear interest at q cent, payable Sc mi
annually in the City of New York, on the LIST OF
February and August, and are convertible into
stock of the Company at par at any time within
ten years from date The bonds are transferable
on the books of the Company, aud have interest
warrants attached. The terms Of payment are
ten y cent on the day Of sale; ten v cent on
the 5th Of March, fifteen Y cent on the let OF
April, fifteen y cent On the lst of May, ten =
cent on the st of June, fifteen y cent on the
lst of July, fifteen y cent on The lst Of August,
and ten y cent on the LIST Of September. Par
chasers will have the option of paying larger
or the whole amount at an earlier date ten Y
cent on the amount Of the bonds not taken up al
WAYS being left on deposit, TO be forfeited on non
compliance with the terms Of the sale. A copy OF
the bond may be seen at the Office Of the Com
pany where report Of the directors to the stock
holders, showing the condition Of the Com
psny, may be obtained.
This is the last loan which the Company will
need to finish and equip their road. The occa'
sion will probably call together the largest COM
pany which has ever attended an auction sale,
and we anticipate an active competition. Toe
convertible character of the Bonds any time with
in ten years will render them much more accept
able to capitalists than they would be without
this privilege, as, while absolutely securing p
ct. interest, they possess also, all the advantages
| of rise in the stock to premium. or the abil'
ity ofthe Company to pay the interest upon its en-
tire debt, including this new ISSUE no one eau doubt
for moment. The present length of the road,
unconnected as it is with its western tie miaus
is earning at the rate Of two millions per aaaum-
leaving net revenue sufficient to pay the inter
| est on the whole debt When in complete opera
ton to Lake Erie it's earnings must be increased
at the rate of at least s75OOOO per anaum, giving
ample margin for all purposes. The pride of the
City Of New.York is now fully engaged in seeing
this mighty enterprise fairly completed, and the
LakeIby new link welded to the Atlantic.
We regret exceedingly to be forced to
announce the failure Of the Auction House Of
Austens & Spicer an event which was produced,
it is understood, by the failure Of the Messrs. Ho
lister Of the Empire Mills, near Utica. The liza
bilites of the house are stated at about million
of dollars, and the stoppage has not been unex-
pected for the last forty eight hours. Sufficient
assistance was rendered Messrs. A. & 9. by their
friends to enable them to go on, but they decided
that such a course would be iDjudicious. The
house, we understand, confident that they
will be able in time to pay in fall every demand
against them. We sincerely trust such may be
the result, and that the house may soon be re-es
tablished upon its former prosperous basis. The
event has elected a universal expression of sym
pathy, especially for the senior member OF the
firm, man than whom one has for forty years
enjoyed more Of the respect and esteem OF the
community. In regard to this house the Conner
ci0l has the following Just remarks
The failure Of Austens Spicer, today, will
cast loom over many OF our citizens. There
seems to be but one universal feeling of sympathy
and regret. No man in this community has earned
more honorable reputation than David Austen.
He is q LIBERAL active, Intelligent merchant, who
has devoted more than forty years to his business
as ardently and as honorably as any man could
This catastrophe has been brought upon hin by
| reckless Spectators who should have had no in
fuence with him whatever. We hope that a lit
| tie time will bring him to a quiet and honorable
repOse, with a sufficient provision to secure to
| him and his family happy future
The failure of the Messrs. HOLSTER has
created fears in regard to the stability of the
Lewis County Bank and we understand some
drafts of that B ank have been protested tele-
graphic dispatch from Mr.. Hallister, however
states that the Bank will be sustained. 1t is a
Safety Fund Institution, and had at the date oil
the September report circulation OF ABOUT
| $4,000.
The highest number of 100 acre Land
Warrants issued under the act of last Sepsen-
Der, 3So
so ,9g
1t will be seen that only one-duarter OF tho ap-
plicants are entitled to 100 acre warrants.
TwOs on the Putnam County Bank
New York, an exact imitation of the genuine
Wig. small State Arms and figure ?. On the right
upper end is the word 1.-TWO" in an oval die
and below is country maid churning. On the
left upper end the word Two" with black
smith, anvil, &C. below. These bills have been
very freely circulated in the upper part OF the
City, and are likely to be taken by persons mol
good judges of engraving, as the difference III
the engraving is all by which the counterfeit car
be distinguished.
The Trustees of the Wabash and Erie
Canal have resolved to reduce the tolls on iror
transported over the Canal, from six to two and
half mills per one thousand pounds. This reduc
tion, in conjunction with those made in the New
York and Erie Canal tolls, will secure freight tc
these Canals which otherwise would have gone
by way of New. Orleans to the west.
The receipts at the Sub-Treasury are
slSs SOB; Payments, SHORE. Balance in the
Treasury, s3,95OO57
The Stamford Bank has declared a semi
annual dividend of 5 q cent for six months.