The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-03-10

not continue depressed in the face or the favorable an
tcpations OF future earnings The season for travel
is opening under the most fayorabs auspices and lie
our impression that the gross earnings OF princ
pal lines of roads during the approaching SUMNER willy
exceed any previous corresponding period The favor
able reports which will be made monthly of railroad
traffic, WILL without doubt gradually bring in surplus
capital. more particularly on account OF the high
prices current for public stocks There are course,
exceptions and do not wish to be understood in
GLIDING all railroad companies in tbi. statement. ssve
raj Of leading railroad stocks already muc
inflated and the probability is taet better equsizs
tioR Of prices, corresponding with ths present. aud
prospective value of each will before the close Of the
season. take place 1t is important that such result
should be realized and that correct classification OF
all railroad stocks should be made
We have apprehensons OF any INN. date
favorable change of consequence in the money market
Recent failures have made the banks cautious, and
business paper is more closely scanned but do noe
that any contraction contemplated that the
usual facilities not afforded California continues
supply with rye amounts of gold and gold dust
About enc million and half has been received within
the past week, and from the accounts should judge
that corresponding amount would be received within
the next thirty days. There undoubtedly viii be, for
sometime TO come moderate contrectons in the money
market, the result of temporary speculative move
ments, but do not look for sereus sstingency
in the market for several months n the common
course Of financial aud commercial events, must
expect collapse before the lapse of many months,
that will add largely to the list of nkrups and show
that ell that gitters ia not gold We do not look for
any great speculation in stocks Of any kind bat
have doubt there will be fuctustions sul ,ent to
give all classes Of operators profits enough 20 pay their
expenses TO Ssrstogs and Newport during the sp-
preaching summer.
Five hun drcd thousand dollars in specie shipped
yesterday to Nex Orleans. Belmont & 90. 100000
NJ. Morgan 100000, Brown, Brothers * Co. 500 eco.
The injunction served upon the Morris lanai Comps
ny amounts to decision by the Chancellor tina. the
old stock shall be consolidated and instead of permit
ting 4loe0 shares 20 be in circulation there shall DO
but 10 $50 and this latter number only be-
taken at the election TOR directors It lie fall time for
The stockholders of this company to hew far its Of
fcers may involve them in personal responsibility fox
this injunction proceeds upon the ground that the law
has been violated and for such vislation Innocent
parties entitled to redress from quarter. The
tendency to increase corporations renders necessary
for the public safety that the act. of directors be
into and contracted with the powers intended to be
conferred by the legislature. The affairs of the old
Morris Canal Company already in the courts of the
State Of New Jersey and promise to give rich de-
veopen ents which shall after look TO; and IL
might not be inap propriate for the Legislature Of New
Jersey, now In session. to institute inquiries into
'he manner in which th. company Lave executed the
powers granted to it.
1t Is stated that the direct operation OF what is'
termed Mr.. Hunters BILL will be to i'm part some
slight protection to the iron and coal interests. The
additional duty imposed iron, as near a. can be
sscertainsd 10 equivalent toabout 81 rs per ton The
additional duty on coal will not tai much shsrt OF 80
cents per ton, which eectuay protects TIE domestic
article.
IL is stated that land along the ne Of toe Baltimore
and Ohio railroad in Virginia has increased in val
ne on the average, full three hundred Per cen. and
that the amount Of land ROW being prepared cult
walton, is greater than ever cultivated before
The new constitution Of Indians provides tna. after
the adoption OF that instrument, couaty town OF
city shall subscribe stock loan credit TO any rail-
road company or other work of public improvement
unless such subscription 0; stock shall be assessed
the form Of taxation and the thereof so raised
paid in cash at the time Of subscribing the same lie
s understood that similar provision mas eeen adopt-
cato De engrsted upon the consideration Of Ohio
Tbs VIII put stop TO the further issae az city and
county bonds In Indiana and Ohio, ard render their
securities already Issued and authorized more yslu.
BILE
Tie lover branch Of the Legislature Of Ohio some.
ume hnce prepounded ctrts questions 20 the Audi
tor OF the State in relation to banks ana s.nk taxa
ton. From the reply Of the Auditor We oS.ain the
following facts relative to the banking noy,m,nt a.
that State
The eleven Independent banks" have an aeaeegats
csp.si stoeki Isid n 81 800 1905 aggregate amount
texes paid the lat year bJ these eleven tanks
~ amount they you'd have paid 1! taxed e. Other
property, the capital stock at the nIsrss rhsa,
bank il located, slo;Oi si emoupt Thrg ro,G ssSs
ss s- u taxed % their notes and ts discounted
The forty.one Braucbe, OF sssts pspsY h.ve.,
asgrt copti stock psi 10 Of 81 72OVsl 55 no.ss
aug eiLs oiecountea slossi 43S 81 of tar
Para w le50 vas sSsls& "a; amount .hey would hAv,
paid II texed &C other property their eastts s.o,r
ssoe63 e4i amount they vosli have paid II ,exed or
The i've Old Dsuks," have an ssgrecs,. esri,,,
soeE paia n q Sastoeoo not.s and bill. die.
amount they would have paid n taxed rs o.6sr nrs,
perty On their ospitsl stook, ss3Ols: pmouu. th.v
wouie haTe PAID i faxed on their notes and bill, dis:
The total capital stock Of all bank, IN tie state paid
a. = ~ 20 80 %: test amount q notct and bills
~ cay e9i o. total amour: a. tax paid by
all baDks, ft70os gs; total auiount they Ii nav.
psd y taxed a. other proPsrJ on Their espiaI stock
tlts,tf 20; total amount they would have pat1 n
taxed on notef aud bills discounted S20T 100 IS.
The report o. the directors OF the CLsehrs Railroad
Is highly favorable to the interests Of the so,khode
end the prospects of extending their bu.incs will add
TO the revenue The report says tina. s.ranvsm.n,,
have been made for connection between tie different
companies, forming connected lire from Boston. yis
ftehburg, keeEe Bellows Falls, Ru,ianI whitehalL
to Saratoga, Troy and Schenectady b. which p,sssp
gers will be able leave Boston In the
apd arrive at Saratoga at or r. q. Troy and ssb.
nectsdy the came evening ana a. the latter pia,,
'casonto take the western ran for Buffalo Without de-
ay appess that the entire osss oi the ross audps
quf 70 January 1st 1851 n.lu ling nail
g sttekholdefs, prior 20 May LIT, 1s4e ana discount
made On bonds and ftock up to the present tme i.
s213s,3lS 10. By deducting such interest and az.
count the real cost appears to BE- abeu. S2aoOooo.
The gross receipts q the road for the year ending With
le6e, have been SssS4l4 3s-increaso over the year
preceding $3.50 si-being something more than2s
pr cent The expenses OF operating the road the mast
year including the sam Of st2 10 l4f,r state taxe.
I'D for repairing damage done in wapcls ~ the july
icod, have been se25s5 AZ Balance q esroipss over
Expense tll5s2e 80 Of thissum tsi 81 - have beer
paid for interet bonds ami debL, or ~, .onrany