New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1852-12-09

101 shares Union Ferry Co (Brookyn) ..''....ido
S0shares IT, g. Msl Steamship Line aw'sl...'.'lOl
1856 shares Paterson Hudson River RR.........'lo2
ICO shares Paterson Rarnapo RR.........'.''.'. u
We annex the list of Directors of the new
Contine Insurance Company 70 be established with
a capital of 100000 Wilson G. Hunt, Watts Sher-
man. VIM w Stone Henry c. Bowen J. Ii. Ransom,
Lowell H,lbrook, Charles NJ. Connolly, Horace B.
Clafin Charles Z. Beebe, Sheppard Candy Charles H.
Booth g. B. Chittenden, Peeg Hall, George s Stephen
con, VIM. NJ Richards Charles Lamson, Aurelius B.
Hull Thomas Denny Jonathan Hunt, William A. Hall,
Wellington Clapp Daniel Burgess, Joseph Batell, Dan
II. Arnold. John CasweI David Lane, Thomas Tiles
ton, A. A. Low, Edmund T. ii. Gibson, c. F. Damb
mann, Samuel D. Bsbcock, Thomas smull, James Free
land Robert IT, McCurdy, Samuel Riggs, c. A. Avery
james A. Edgar A. studwell, Henry A. Stone, Hiram
Barney, Edward Lambert George Grswold Jrr Joseqh
w Paterson, VIM. NJ Vail, Lycurgus Edgerton.
We are informed that John Magee, Esq,
has resigned the Presidency of the Buffalo, Corning
and New York Boord of Directors, and that, in con.
junction with two other gentlemen he has taken the
contract to furnsh the iron and finish the entire
work on this railroad to Buffalo by July next Mr..
Bostwick understand, has been elected President
| In the place Of Mr. Magee.
We were about to write paragraph in re-
laton to the discreditable fnancierng of the City of
this market when we found the annexed just remarks
in The Journal Of Commerce
There is Considerable indignation felt here by the
bidders for the six y cent bonds OF the City Of ROches
ter, recently offered in this market at the manner IN
which the same have been disposed OF in that city
will be remembered that the City of Rochester adver
tsed for proposals for loan of 100000 at six cent,
the bds to be opened at the office of messrs Carpen
ter & Vemye in this City, and to be rejected if not
satisfactory. The reservation was supposed to apply
only to some combination among capitalists On case
such should be attempted) to obtain the loan below
fair market rate.
The day limited arrived, and the bids were opened
when ii found that four times the amount was
offered at rate which secured the whole at lOiUl0i
37l4, Il premium of to As y cent The bids were
bona fde and offered, as the fair value OF the
bonds, by some Of our most respectable capitalists,
who fully expected their acceptance. The authorities
Of Rochester, however have rejected the bids, and
awarded the amount 10 of their own body an ex
change broker Of the place. at slight fractional ad-
vance on the bids here, viz at l0f 6l3 Had any con
siderable advance the New York bids been Obtained
tie Corporation mi ht have been justified In their
course but the Transaction stands will pass for
piece of jugelery more easily understood than de-
Tended Tie indignation in regard TO the result of this
eair not confined TO this city. The Controller of
the Corporation being honorable man it is said will
resign from modification other distinguished citizens
OF Rochester have felt the disgrace 10 their city keen
y that they have offered to pay the fractional premium
themselves and give il to the EewYork bidders at their
fret ofer
We arealso informed that after repudiatng the ne
gotiation made by Messrs. Carpenter g. Vermilye
bids again opened in Rochester with pledge
that the highest bid should be accepted which pledge
violated, and at third bidding the bonds were
awarded as above noticed. leading banking house
in this City TO whom the Bonds were offered by the
takers, has declined any connection with the affair.
This management of the Rochester Common Council
will not assist them in negotiating the balance Of the
loan.
The earnings of the Ogdensburgh Road in
November were $4,000, against SOS 600 in November
last year.
The owners Of the Bangor and Old Town
Road, an Improbable speculation learning that some
parties wereabout to build parallel road, have adopted
a clever plan TO check the movement. They advertise
their road for sale about quarter of its and
at about onequsrter of what the proposed paral
lei read is to cost They say in their advertisement
The present propietors of the Road would be content
To keep H. rs yields fair income what II has cost
them but they have heard that contractor from New
York has agreed or is about to agree build aparalle
Road from Bangor 10 Old Town, the borders OF the
Penobscot River and for his pay is to rely first
subscription OF oneourth OF capital Stock of s4o0oO
next Stock in the Road for fourth viz 10000
and lastly on the sales of the Bonds of the Road for
the balance We feeling convinced that if such parallel
Road Il built, neither our Road, the Road, its
Stock or it Bonds would be OF much value, neither
Road could he expected 10 more than enough TO
us running expenses, under the most economical
admnistration-we, therefore, induced 10 offer
Road for sale, either 70 the proprietoD Of the new
Road or to others
The Chicago and Rock Island Road is doing
very favorable traffic far completed (Joliet) ana
Is earning or per cent its cost that point To
Ottawa will be completed during the present month
and will soon be in connection with the navigable
waters OF the Illinois River, giving communication
with the Mississippi From this point it will enjoy
very large business Within the last six months ten
thousand two hundred and twenty tuns of iron rails
for this road have arrived and nearly the entire quau
uiy has been sent forward to Chicago; and three.
fourths OF the whole quantity had reached Chicago
on the first of October. Contracts have been made
Tor grading forty miles Of the road west of Peru.
being ope'hat OF the distance from that place 10 the
Mississippi al Rock Island TIE bridge across Rock
River, about eleven miles east of Rock Island has pro
gressed so lar as to insure its completion n 1883 II
10 shown ty the estimate CT the chief engineer that
there has been expended In the construction of the
road, 10 tie first Of October, the sum Of $50 400
There has been advanced on 1900 tuns of
iron rails delivered 10 tie Company be-
yond the quantity embraced in the En-
gineer's estimate, the sum of ..... lslyTj
Expended on dep6: az Chicago, and miles
OF road 10 june non observation-disclosures. 6lOOO
For roadway and other expenses. 5000
Total sum expended read to first Oct sll5l.S75
The subscription TO the stock in Illinois as required
by the charter, was. Observation-Disclosures 100000
On $4,000 of this nothing has been paid
Eight installments, Of per cent each. have been
called and portion has been paid in full; and the
total Payments on the subscription in Illinois amount
$4,000
There has been Issued of fun stock 10 the con.
usotors, IN payment for work done LOO
snnes-eeaei ACKNOWLEDGEMENTS. 10000
1850. ---''--- Skt5,OOO
AT Boston, Money remains in abundant sup
ply Paper Of the FIRST rank has been passed in the
~reetG shade under legal rates bu, for general ap-
phes'i0ns lenders still insist on p cent as mini
mum.
The City Council of Charleston, S. c.. has
voted an additional subscription of TO the soct