The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-05-06
cast, and to connect with the New York and Boston

Same time 1850 ........ lo4s2 s5S5ss 81
same time, ls4e ......... 1000 $500 :,
The shipments from this port from January toAprit
23d this year. amounted 1928 bales aud agans.
9253 for the same time in 1850 and 6,5Sl In 1S4e
The value this year. of each bale about the
same as last During the month Of April this year
294 and bales Of cotton goods shipped from,
Boston of which 100 went to the East Indies
The receipts of the Northern n II Railroad Company
for the month Of March, 1851 amounted to $40 o.
month last year, s21 40 25-increase $325O 80
The Banking Department Of this State has issued n
circular giving the annexed construction the law In
relation to the redemption Of bank issued by our
State banks
1s The law takes effect and goes into operation the
ID The of redemption of bank bills by the agent,
of banks, banking associations and individual bankers
WIZ pc 81 one per cent on and after the salt
! Cd The agents already appointed by banks banking
associations and individual bankers may continue to act
\ as such agents, until changed according 10 law.
ON and after Wednesday the eth instant bills Of bank
located in this State will be redeemed Wall street at
one-half per cent discount This is a reduction Of
I eighth per cent.
| The financial condition of Indiana and the present
value Of the various classes of her securities
Of considerable interest to capitalists both in this
try and in Europe During the session of the Legia-
ture in 1916 and 1877 passed making provi-
sion for the adjustment of the Internal Improvement
debt the main features Of which that the State
should give her creditors certificates bearing
five Per cent interest redeenab the pleasure Of tn.
State after twenty years for nehalf Of The principal
the intest this stock to be provided by taxation
For onehaD the Of interest give
stock bearing interest at the rate f per
cent Per after the lst January 1865 redeembe
the pleasure State also provided for by taxation The
payment Of the other half principal ana interest
made chargeahle the Wabash and Eric Canal under
certain stipulations and restrictions. hereinafter
ntioned-for the final payment whereof the State j.
in no wise responsible. Growing out Of th. funding
rsugement the State debt divided nto partsone
called Indiana state stoc and provided for by taxa
on aud for which the faith Of the State Is pledged til.
other Indiana Canal Stocks for the payment Of which
the Wabash and Erie Canal together with he lands
other assets belonging thereto, picdgedthe State
being responsible therefor Under this Law for each
original bond If 81 coo, and it, interest
holders received, in ls47 -
For one-half the principal, a certificate for $500
bearing interest al cent payable half yearly
mencing july 1917 per cent in cash. per cent FUND
ed to LIST January 1853 after which the whole ispayable
in cash.
one-hsf the back interest certificate for $50
besng interest at the rate Of per cent after January
J. 1853 These stocks are payable 10y the State
3 For the other half Of principal acertiArate for $500
bearing per cent interest after January J. Iss7.
For the other half Of Of interest certificate
Of $3.50 barring per cent interest after January 1885
These stocks are payable out Of the revenues Of the
canal
There exists them the following debt and stocks per-
tanning to the State OF Indiana up to Ausut 1850
l. The original bonds not surrendered ccrtid-
Gates taken under the act Of lsic7 but yet outstanding
and uncancelled. to amount Of million fur hundred
an Il eighty five thousand dollars.
2 The Indiana Canal Loan Of ss0o0o0, made by tho
bond holders to aid In completing the canal bearing
D. The Indiana State per cents Issued half tho
principal
4 The Indiana pa per cents, issued fr one-haf the
arrears OF interest.
5. The Indiana Canal per cent Preferred Canal
stocksm issued for onehaf the principal those Of the
bond holders who did advance their portion VI the
ssoo0o0 loan to complete the canal.
The Indiana per cent Special Preferred stock
issued for one half the Of interest TO subscriber
aforesaid
Z The Indiana Canal per cen, Deferred stock issuei
for onchaf the principal TO those who did no. subscribe.
10 the said $500 600 loan.
The Indiana per cent Special Deferred Cans stock
FOR one half the arrears Of interest TO nonsub rbcrs to
said loan.
The canal stocks issued to subscribers to the loan ar.
called preferred Canal stocks and will be first paid
both principal and interest Of the revenues be-
fore either interest principal is paid the deferred
canal stocks issued to subscribers the latter comias
in after the former fully paid and satisfied.
The amount Of these stocks the ffsh Of August
last. stood thus
Original bonds not surrendered or canecl!.d.
then outstanding ACKNOWLEDGEMENTS. tlss5O~
until 1853. ..,...........: s4snooo
q. per cent after 1853. ...........,... l''5eoo
Six per cent canal loan ................. ssI5co,
Preferred canal stocks, bearing 5 Per cent
interest from ist Jan, ls47. ........ 100000
cent interest after Ist Jan, is65........ I2i5sa,
Deferred canal stocks, interest at per cent
from 1T Jan. h4.....................- hol.WD
Special deferred canals, interest from 1T
JAM 1903. ...... ....................-- ZJO.vp'
The market value Of these different stocks is fol-
lows
Indiana old bonds not surrendered. hearing interest
since July, 1871, 5000 for each bond Of $1,000.
Indiana six per cent canal loan, half yearly interest
payable at the Office Of the trustees In New York
cent
Indiana per cent STATE stocks. 81 per rent.
Indiana "a per cent State stock. ~ per eent.
Indiana per preferred canal stock A. per cent
Indiana special preferred canal stock y q per cent
Indiana deferred canal stock per cents Is cent
Indiana special deferred canal stock, 1vrcr cent.
Accrued interest In all cases going tn H.. purchaser
of the above enumerated stocks growing cut Of tho
funding arrangement only the following caargcabe
the revenues Of the state. viz
Dive per cent state @tocls 70 amount of.. sio.i0o
Two and q hall rcr cent state stock 17iS.c"
Total that the state has 70 provide scs1ecco
when tho old bonds yet outstanding sErrcndcrtd,
and the securities taken under the -. aforesaid,
there will BE- about $4,000 added to the making
the total State debt s76Gd,6oo.
Tho state another debt, for which I've per cent
bonds Issued in 1894 70 smouut If $500 10
provide rey for the stock she Nal taken Ia the
sate Bank 81 Indiana An avcrage q ten rcr ent dyi
dends has been made this stock snse the orgnizs
ton of the bank The bank has regularly raid the In
tercrt the bonds large sinking fnd has bssn
aed growing out o. q dividends applicable to
the redemption of these bonds The hank stock viii
command premium Of thirty three rsr cent
IT y confidently expected hat the stock and sinsus
fund will ray ths entire debt sndlea,c clear net gain
e near million dollars the benefit 81
school education TO which Object the ers"r sFiopr-
ates IT, Thia Is the only investment from vhcne. the
State has derived any profit Ample provision has becn
made by taxation meet the interest IN The state
debt After this year there will be considerable sink
ing fund provided The present rate of taxation are