The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-12-15


Leaving a balsncs in the Treasury At the
close Of the fiscal year. s0h Sept 1853 of 81 900 6S
The expenses Iropsr of the government have
been for the two acknowledgements. 233 0iS 81
Or average annual exper diturs OF. .. lle52a 81
Id regard to the revenue tie report says that
nearly the whole Of the State arises very
lev o; SUBJECTS of taxation and thai slaves pay
almost half. Thus of assessment Of $5896,9 50
for the year 1852, lands slaves mercha pdise money
losned ard the license list (but five items yield $685.
$50 80.
rOe Norwich, Ct Courier of the 10th inst gives the
following particulars of the fure and the charges OF
1t is nearly years since Nc Pearce commenced
The manufacture upon y large is, of railroad
Eft ring into the busiress without any considerable
capital OF his he was OBLIGED ofcorrss 20 it
1T disadvantage Daring the first year. his principal
doreer on accommodation paper IT. the BANKS was San
fore Stoddard man Of wealth, residing SIX seven
miles down the river, in Letyard.
the expiration OF tie first yearso 1t is now slid
Mr. stoddsrd, for declined endorsing for
h N any mere. This fact, however, not known to
thr banks. Meanwhile the paper of Mr. are, ring
tie name o bill Stoduar rs endorser continued TO be
offered ST bans and dscouatsd heretofore Aud this
rsper vas always promptly paid At maturity and a. ar
pace know TO he doing h avy business, executing
large contracts for RAILROADS in various quartrs Of the
try faint Of pciop 81 honor attached to his
opera ions. The number Of hands employed BY
him il hi snd foupdr establishments In this city,
varied iroIs hundred to hunGreS and twenty
five Resiceh these he has had lattsry establishment
NJ Rawapo the eastern terminus of the New York and
ie Rsifoac, where he lad fifteen or twenty hands
plo ed in putting together the materials for which
bnd been previously fitted ami adj listed at Norwch
Though 1t known that for tho Fl rst two thres
Mr. Pea had had pretty serious
TO Struggle With it ~As spppoed these OBSTACLES hai
beer surmounted ard that he ow doing prosper
business Thu stood matters until tn, sy roiog
last On that morning meeting OF oficars II suudry
banks in ihis city iDvted by Etwars Perkins Esq
who impaired 10 them the information that Mr. Pearce
bad failed, and mace assignment of his property
first 80 secure the pay mept OF what due b. his work
men, second for tie secpry of the banks aud lastly for
outfide creditors. The hank gentlemen also in
torntd that mixed with the paper which they
held against lin was the suu 4 eighty -four thousand
eight bunor.d and twenty eight dollars Of forged paper;
and that this amount distributed among the banks
Nerchnr's rapk ss3 244
Uncas " Observation-Disclosures. IL $50
Nor"ich, .,,......s..st......,... 5000
JeWett Cny - 4,l6O
Total. ss4s2s
What amount OF Pearces paper, With good geuuine
Endorsements, the barke In qsestion hold tnow not
ranges ewhere between $50 600 ans $50 600 s
II eluorR coed psper and bad the total amount h. BY
The banks cannot fall much short Of s20 600 SIPS 000
How far tho property assigned will go toward indemni
than any one can tell for as yet IL Is rot known
10 what extent II any this property Is ncambsred by
Irisr mortgages. Besides, NJ. Pesrce owned Int one
hal f the factory in viii cb he carried his bust.
ness in this city I'm Breed being the OF TIE
other half
In addition to his heavy baak liabilities Mr. Pearce
vhp largely indebted 10 hsrdwars dry goods grocery
end lumber merchants o. Nor sicn II IL repcrted ,ht
debts 10 this class o creditors falls te II sny short
81 $40 COO
what may BE- the amount OF Pearoe's indsbednees TO
Jstiee living out of Norwich, probably has the
means Of knowing. 1t win not bc strange his failure