The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-09-27

The bank movement during the past week in de-
partments varies considerably from that Of the week
previous. comparison shows dmin uton Ia discounts
of $s7 s2i in circulation $50 1922 in specie $50 80
10 deposits there has boon increase Of $70083. Ths
is by means favorable exhibit and must undermine
confidence to extent The arri n Of gold dust from
California received by the steamship Northern Light may
help the banks this week. but the exports likely to
increase and the specie basis Of city institutions
must gradually fall off There IL help for it, aud
most stringent times are In the perspective.
The negotiations which have besn pending for week
past between the Osdensburg Company and the lover
lines finally brough, to close BY the sale Of all
the second mortgage bonds Of the Ogdenburg Corpora
ton, OF Par Tns highly satisfactory arrangement
bs the OsdeDsburs Railroad not only pay It's coupons
on the first of October, but also set all its liabilities
ard have handsome surplus besides the unsod shares
on hand and very large amount Of valuable real estate
at Ogdensbug and Rouses Point wanted for the pur
poses of the corporation.
The Legislature of Virginia have lately incorporated
the Dora Anthracite Coal and Iron Manufacturing Con-
pany with capital Of 81 COO OO0 for the purpose of
working Of the richest mineral regions Witch exist
in that State The lands Of the corporation 600
ecrs located mostly in Augusta county, 135 miles south
west Of Washington, D. G. The Virginia Cent al Rail
rosd Richmond passes in close proximity, Stanton
station being eighteen miles distant Tho Manassas Gap
RAILROAD win pass still nearer-within ten miles. The
latter road already graded to sras5urg We have gooi
authority for stating that the mineral of this
region Of a nature truly unparalleled The deposits
exist In extensive range Of hills ard crop out at the
surface and sides for miles together.
The annexed article from the American Railroad Jour
nal Of the oath inst gives about as interesting
count OF the rice progress, and prsent position OF tbs
Erie Railroad Company, have seen for long time.
Four years ago presented to tas public state
upon statement that rain results would ulti
nstsly Re realized These who were at that time
vnced and avoided Invest nents in the stock have
regretted it, for fortunes upon fortuces have bean lost
the auc.ustions The present market price Is entirely
fictitious, and before the stosk becomes again ct all
distributed decline Of twenty and thirty per cent must
be submitted to- We give the annexed article merely for
the purpose Of presenting certain facts (Which
of the rselves rev startling) in different light Our
opinion has been the throughout In relation
construction and operation Of this road during tho
time which has elapsed sir CO in roorg snzaion W have
tho FIRST to change mind Every d
rector the past and present Boards Of Directors kno~s
better than any outsider that the Erie Railroad Com pany
Is bankrupt insolven rotten TO the very CORE notwi.h
standing which dividends are declared and paid Our
prsdctiona in relation to this company at The the
little premature We we're little too far in advance Of
the puDnc mDd on TINS out every pfopRA6y WIN
DO literally fulfilled
EuE RAnRoAD-Cosr TRANSPORTATION.
There Ia q strong vement in Erie stock. As money
is st tight for speculative purposes and tho rise
Erie out of oil proportion Of other stocks
have q right to suppose that the present m,vensat
proceeds from certain parties who Understood have
gone into this concern at high figure aud are nov
taking this method Of shifting their responsibilities upon
other shoulders Such suppose be the fact In tbs
speculation IN the stocks II 10 mmaeria to who win
lose but for the benefit Of those whe b. DESTROYS
pu chasing for other purposes than ion
be e to submit few considerations touching the value
Of Eie stock
The fret question that presents itself ID, how much
MONEY has been lost TO nolensve term) In
struciop We presuroe far Within bounds wh.n
we pu, the amount at $40 900 COG equal To the
tire capital stock The pauy admit that nearly this
amount bss gone 10 ebaves discounts &c L. also we'll
known that the estfnahs ri competent engineers have
been exceeded by sic 0oO 600 We heard
cops-eot estimate the fees OF the mpeny
at lees than the at1ed We tbs rsfore
sumo tns tho amount actually lost
No. experience bias FUZZY proved thst the earnings u
railroads, unless they possess eK.rsocinary ayAasass,