New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1853-02-11
The Nex.York s-ad Nev.Hsyen Railroad

Cor,pauy have decb red q dividend Of three dollars
and fry cent? per lhAre, payable ljth instant.
Mr. S. Draper viii sell at auction at the
Merchants Exchange to morrow, Frday) after the
adjournment of the Board Of Brokers' q number Of |
shares Of stock of the Michigan Southern Northern
Indiana, Erie and Kalamazoo, and Oswego and Syria |
ca.e Railroads, Aston Bank, and North American In
surance Company. Also s11.O00 Ashuelo, Railroad |
Bonds and e. 900 California sevens
A new California Steamship Company IL
being formed under the auspices Of Messrs DaTls *
Brooks. They purpose 70 put semi monthly inc
from New York and another from Eew-Or cans, both
via AspinwsI The Winseld Scot and cortez, now
in the Pacific vii probably be in the new line, Neasrs
Davis Brooks having offered TO sell them 70 the
Company % fair terms
Some time since ar Association was formed
under the general Railroad Law Of this State, bearing
the title Of the Syracuse and Utica Direct Railroad
COMPANY. with capital of ak hundred thousand
doIlsrs lie object wa 70 construct road from yra
eu,e TO Utica, running near the present road BE-
tween those cites fer east Oneida, and thence
through Vernon 20 Utica, by shorter route than the
present track through Rome The surveys which
have been made show that the line Of the present road
between Oneida and Utica may be shortened about Eve
miles without any very Objectionable grades, but + II
believed that the line between Syracuse and the vcin
ity of Oneida cannot be materially improved either in
grade or distance and that when third track shall be
required il can be most sdvantageousy laid on the Line
Of the present road Il IL the desire Of the Utca and
| syracuse Railroad Company that this track shall be
constructed nnd operated by il third track OF fs
road AZ the Corporation has not the power build Il
under its charter this Company has been formed for
the purpose All its Directors, with two exceptions,
! H. ard 1,ra Hailr
and ii IL agreed thst the road shall be used and
managed by it during the charter, the Direct Company
being paid for such the per centage on the
c,pital paid in as the Syracuse and Utica Company
sball decide among its Stockholders portion Of the
capital stock Of the Company is allotted to parties in
terested In the first organization. The remainder s 70
be offered to the Stockholders of the Syracuse and
Utica Railroad pro rata excluding fractions The pro-
portion Of the stock 10 be awarded is about one
share for each five of the old held.
Some method is about TO be adopted at Al
bsny 10 check en- abuse Of the Banking Law which is
practced to a considerable extent by Banks which
have been recognized after the expiration Of their
charters under the Free Law Il appears that these
Bants have the right reorganize deposhng $1,000
Of securities with the Bank Department, instead Of
100000 which Is required Of sssocia;ions Some
OF these Banks having issued a large amount Of new
notes just before the expiration OF their charter con-
tnue TO reissue them under the new organization,
with only $4,000 Of security in the Bank Department
and thus defeat the intention Of the law which was to
provide ample security for all bank issues This course
IL not only evasion of the law and dangerous 10 the
public, but il rank in Justice to other institutions which
have complied fully with the requirements ofthe law.
We trust the Bank Committees will put etiectual
stop to this species Of financial sharp practice.
The January earnings Of the Cincinnati,
Hamilton and Dayton Railroad were e., 500 being
double thetrafc Of January 1850. The Company have
declared a sem. annual dividend Of p cent.
Charles l.. Boalt, Esq, is made President Of
the Toledo and Norwalk Railroad for 1852 w. E. Kit.
fridge, Secretary and Treasurer, and f. B. Phillips,
Superintendent The capital stock Of this line is only
s55 900 the remainder Of the cost being in Bonds not
convertible.
A circular, recently issued in relation to the
debt Of California and San Francisco makes the follow
ing statements:
According 10 the Constitution Of the United States the
Government becomes responsible for any debt incurred
by State 10 meet the expenses OF war. so far, all
expenses for raising men, incurred by the individual
States have been reimbursed TO them from the Public
Treasury and there IL doubt thai Congress. sooner
or later viii order the payment to the Saie of Calfor
MIA Of the debt Of 81 900 900 contracted for the Indian
war The real debt OF the State of California for which
I
q $4,000 the interest upon which about 500 900 per
annum. To this. however, must be added slOOOOO
for the construction OF Peneniiary but as the bonds
will be issued only the funds shall, from time 10 time
be needed in order 10 carry ON the work, the whole
amount will not sppesr before two or three years.
The obligations OF the City Of san Francisco; issues
Of 1881 payable in 1871 bearing 10 y cent interest y
snnum. amount 10 81. 5OO0 600 Interest payable semi
snnualy This debts guaranteed by atrsnsfr OF all the
property Of the City OF San francscot TO the Common
of the Sinking Fund and according % the law there
must be raised annually by the said Commissioners from
the income Of the city, Of whatever nature II may be
amount sufficient to pay the interest on the bonds
ssued and besides enough 20 redeem $4,000 worth Of
them yearly. The surplus revenue Whatever i may
be IL devoted to the current expenses Of the city. II
his should not be sufficient there exists Float
ing debt in the shape OF Scrip which sells at a
great discount and in proportion u the probability Of
receipts in the Treasury These City Bonds are securi
ties Of mn undoubted character There ia alec about
100000 worth of City Scrip (old issue) bearing y
cent interest per mouth, which, being receivable IN
payment for taxes, sells II rifng discount
A Convention of Delegates from the Banks
in New England was held at Boston on "Wednesday
last The ohjec; of the meeting to organize a
Bsnkers Association for the suppression Of counter
letting. An Association organized by the choice Of
fifteen managers whose duty ii Is TO direct al the
affairs and to devise and carry cut plans for securing
the desired ends of the Society. Any Bank in Aassa-
ohuscts may become participant in the Association
by paying an of Eve dollars for every hun.
dred thousand dollars capital
The annual statement of the Morris and
Essex Railroad presented to the NewJersey Legs
iSiure, show the following results
Cap Ia stock slO4S %
Funded IL ooo 90
Contnssns fund. 6asG5 s.
sly2S,S SIS 90
Cost Of road and its sppendssee between
| Newark ana HacketrstOwn. sSo,yle %
! Cash ana bills receivable. .....,. rs, +o7 81