The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-02-08

and adjoining land. The board have paid sao70o OF
their debt within ninety days. There remains s24-
eeol wn,en 10 IN course o. out Of means 10
debt within short time After the debt is discharged
the receipts from the property viii be paid to the
stockholders In the form OF dividends These receipts
which should Increase with the general prosperity aud
advance OF population will be obtained nom the fol
Sd wbarfa Of steam boats; atb-tonnsge on canal
and basin tth-r.nt of water power; oth-tos from
The Beard OF Directors have resolved to sell three
theussDd lots $4,000 In parcels TO fuit purchasers
ment for the ..ne The ri sale /. saysrssd to tax.
place In this city the 10th day OF April next by A.
sire to cali the particular attention OF the
ct. ckholders to it. The lots will be select
OF the ram. win be furnished previously to the sais,
and valuation, by appraisement will be marked upon
Their true - yaiSs This sale. and the early pro sabs
improvements many Of lhsse lots will render the
productive The stock received At the sale In pay
for lots will be cancelled and the capital reduced
to that extent The somPsny have made a contract
place manufactures on tho western portion OF the
ground and thus concentrate upon 1t within short
period large population From this contract, and
others under the board to receive
much benefit within the present. year. The Office of
the company Is at So Merchants Excbspge where in
formation will be given to the stockh olde-s 1t any
CORTLAND PALMER, President
latest INC ment and gives very satisfactory account
Of the affsirs Of the company. There has been
siderable speculation In the stock during the past
three months, an d the advance In prc es has been
considerable. Notwithstanding this holders not
disposed to re those most intim ately acquainted
with the position and prospects Of the have
been the largest purchasers These landed companies
have become favorite investments with a certain
class of capitalists who prefer them to any other not
nlvn ntnftk Of D a In
tmsnt but of the facility for division of tho pro-
perry, from time to time among those ints rested
stockholders. 1t will be seen that the Portsmouth
Conn any have ade ments for selling at
tion largo number OF lots, payment for which will
be received in stock This will enable stoc kholders
TO feeure al more direct interest in the property
Of the company, and make IL an object to improve
what lots they thereby increasing the value
ofwhatever stock may be outstanding. Whom We look
at the rise and progress Of large western cities
and compare the location OF most OF them to Ports
mouth the natural conclusion is that few years will
suffice TO make that of the most prominent
points on the Ohio river. Its growth hasi thus
far, betn most rapid, aad lots purchased there,
favorabIy located must annually increase in value
greater per cent than any other place in the State
OF Ohio. It's ufact advantages represent
ed as being unlimited, and of any required power
its mineral OF the most valuable and desra
pursuits it is second to other in the valley of tho
Ohio river The letter OF the President of the
pany, given above tells the whole story, and
commend a careful perusal by every stakeholder.
large number of the dry goods jobbers, grocers
and other Wholesale dealers with tho country, have
associated themselves to rid the city of the intoerab
burthen Of the deprecated paper currency with which
the community Is constantly delugsd by the country
banks, and by the discount on which our people are
dollars A new institution has been organized under
the title the Bank of the Metropolis. James Mccall,
well known a successful merchant ofhigh chsracte
will be the Preident and with him OF the most
prominent merchants and capitalists Of the city
associated. The Bank Of the Metropolis commences
operations with . capital of 80 eco co., ard will per-
FORM the peculiar ctions here that the Suffolk
County Bank does benehcially at Boston, compel
,iog the country banks to redeem their bills in this
city in specie at par. The operation Of this will be
wholesome an profitable to the sound couatry banks
~ the people it will render their notes univer
sally acceptable throughout the Union as those OF
New York city banks; and the result will b.
that the note OF bank in st. Lawrence county or
Buffalo will be good currency in California Oregon,
Panama and in Canton. No honest banker can suffer
by it, but It will put end TO all swndlers like those
OF the Painfrld Ulster Lehgh and other shinplaster
factories Of that ilk by which certain notorious cha
racers have so long pillaged the labong classes OF Thu
city cut Of large portion of their hard earned weekly
wages. Under the general banking law host Of banks
have started in obscure hooks Of the country the
names of which hot to be found ON any map, and
have been heard Of in the city till they make their
appearance on the dubious looking notes which bear
them. Many Of these country banks actions,
having real location in the cellar of the broker
or broken SPECTATOR in this city who the pretended
"sgent Of the bank, redeems the notes ut discount
There will now be complete stoppsge of these
abuses. The city capital emf loyed in ban king will all
be liable the redemption Of every dollar of paper
oney i,sued upon IT, without distinction in favor Of
those who practice under cover of these sham coun
try banks" and the whole community will have the
benefit of currency instantly redsemable In gold and
silver, without discount.