New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1851-09-03
Increase this year..........----..---. s32933 Is

$3.50. $50 O. 81. So. 800 10
s2.576,056 &c
Increase this vear..........-....--. S3l2 .933 IS
Ex-Secretary Robert J. Walker and Da-
vid A. Neal Esq, Will soon leave for Europe for the
purpose of negotiating loan and buying iron for the
Illinois Central Railroad Company. -Four millions
Of the Construction Bonds have been subscribed for
here and two millions more would have been taken
by the same parties. This great public enterprise Is
thus fairly under way, and we congratulate Illinois
that this important work Is in such enerprlslng and
willing hands The completion of this road viii
open to Illinois a future of progress and prosperity
beyond her most sangune expectations.
Mr.. Oliver II. Lee was to-day elected
Secretary Of the Hudson River Railroad Company,
rice Geo. b. Butler resigned. Mr. Lee has been SUI
perintendent Of the Road for some time past, and
given great satisfaction, but the condition OF his
health required HIM to abandon the arduous duties OF
that office Mr. Chief Engineer Young, 1t is decided,
viii be President of thus Company upon It's compile
ton Of the Road. when Mr. Boorman has decided to
retire. An engine, At is expected, Will run over the
whole road on the 10Th inst, but regular passenger
trains will not be run until the LIST October, when
grand celebration viii be gotten up TO mark the I'M
portant event.
The receipts of the Harlem Road in Au-
gust were about SOL 600 The extension to Spencer's
Corner was opened Yesterday, making 100 miles of
road an operation.
The receipts of the Morris Canal Compa-
nv for the week ending August % were S5,1Oj 50,
less drawbacks, 5000 4 $500 IS. The receipts
for the corresponding week last year were si23 %,
which was one of the best business weeks IN the
year
The Jefferson Insurance Company has
declared dividend OF s. = share.
The Philadelphia Bank has published
card stating that the deficit Of The late Cashier OF the
bank Is $4,000, for which securities are held. The
bank l. reported to have surplus undivided funds
over It's subscribed capital Of 100000.
Mr.. Thompson adyertises in our columns
to-day Virginia Skies OF 1856 at 1851 y cent. lnteres,
from july Ist going 10 the purchaser Thls stock Is
one ofthe safes, OF State Securities, and At the price
AT which they are offered are much cheaper than
other sound State Stocks bearing the same rate Of IN
terest Ono SKIES due II years sooner, sold today
at ll5. They are no stronger security than Nr-
ginla The annexed extract from recent work on
Virginia gives some interesting information upon the
subject of liabilities and resources
The stocks of Virginia are equal IN value 10 any
that can he offered IN market The taxable property
is estimated az the SUN of $3.50 coo
The absolute and incidental debt Of Virginia
amounts 10 sls.37O,9s5 This constitutes an nj rli-
orerq obligation of > |, cent upon me whole taxable
values OF Virginia. the interest on when would re-
cure an annual al yaiorem tax OF four mills = cen
un IT, then, the whole outstanding deot oil Virginia
were without representative investment, II might De
extlneushed by single contribution OF 2 y centum
upon the taxable yluaoles Nor would tins require
the sacrifice OF her property According toEhe estl-
mates of accurate statesmen, the annual income Of
Virginia arising from the sales OF her products, Is
little short OF her whole actual debt The results OF
single wear OF ordinary prosperity would therefore,
discharge the obligation for ever. Win such lndIs-
putabIe evidences of The SOlyency Of the State, II l.
apparent that nothing except want of mora! hdety
cauld ever render the public obligations Of Virginia
for moment doubtful. Oi the proDdDllltles OF tals
,be world can Judge as well as ourselves. The
people who encountered heavy taxation oy thelr
own government rather than pay triing trloue 70
Great Britain, not Ike 10 dlshonor themselves D!
reputation.
= A State which has eyet been prompt 70 PROVIDE
for the punctual discharge Of her annual interest
! which has provided a sinking fund, and has even
invested recent surplus for the redemption ana
! extlnguishment OF bonds which sne might nave
renewed oy the usual hscai deVces-wnich mas, IN
out hesitation, increased the taxes whenever hds
been necessary Is not liable 10 lmputa!Ions Of hdey
! 10 her engagements. The proceedings OF the Con
yent1on Will show the determination to aIord ever
constitutional assurance that her crech VIII iO' De
abused The Legislature Will be required 10 III
crease the sinking fund, and 10 provide Tor the pay
the principal Of every appropriation Ia reg "a 10
the adoption Of this provision there l. no douo1 m
She holds bank stocks to the value Of near! so'Vw,
eco Two millions OF her OstenslDle deO' Is que ron
one department OF the state 10 another she Aol-s
stocks IN various works completed Of PROGRESSING,
amounting TO nearly 100000 The state : sho"h
ty some 20 owe IN eHect-nothlng-ahi oy o'nr's -
possess surplus
Ii Is stated that company mas oeeh
formed Tor the transportation OF coal from "ilAes'
barre 10 New-York which has entered into engage
menis 10 convey from the mines TO thls cry through
the Lehigh and Morris Canals 100000 tlns ne hr''
year 10000 The second and 10000 iuns eacA yea
thereafter They are to pay, for the Use OF me ca
mails 81 per iun until the quantity forwarded reaches
iO0 900 tuns a year. and 90 cents when It exceeds
that amount II expected that the coal VII oe ue
hyered a, Jersey CITY, at an expense OF ~ - Tor
transportation. The value Of the Goa. IN the mlae
so cents per tun and the cost OF mining It Is est-
mated at 50 cents This Will make the price, oppo-
site New-York. - 81 per tun.
TIE Clereland Herald says The Forest