The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-04-07


for the purcbsse Of foreign silver. The terms upon
which purchases will be made are clearly laid down.
and they will not be deviated from until further no
tice The circular will be found in another column.
The steamship Asia. for Liverpool to-day carried
out sa7 800 IN specie.
The Union Bank has declared dividend OF ten
per cent out OF the surplus profits. The Fremens
Insurance Company has declared A dividend OF
- 80 per share.
The amount o. money going into railroads is very
large aud il seems 10 be the that the most re-
sponsible borrowers make the best bids for money,
because they are best able to make them. We no
ticed few days since that the Illinois Great Wes-
tern wanted 81 900 900 to- put their road in opera
ton b. September next; they promptly offered ten
per cent for the money, and got it. That money
will be expended in region which will turn out a
large business for the Illinois Central Railroad, and
that great work is being pushed with vigor. Our
readers know that the 900 900 of choice land
donated to it by the federal government, together
with the road are placed in trust to cover the
SIT 900 900 of bonds. which, il is estimated, will
suffice to build the road. OF these bonds So 1856 900
have been invesed-s5 900 900 at six per cent, in
London, where they are quoted at LOG; $4,000, 900
seven per cent, tor iron mostly. at low rates. and
which has since doubled in value; and 81 7S5 900 to
contractors, who have already thirty miles of road
in operation, from La Sale South. The company
now offer So 900 900 more OF the seven per cent
bonds and they offer the takers the right to sub
scribe to the ultimate capital stock of the company
in the ratio of three shares for every 81 900 of bonds
paid for. This right is probably the highest bonus
yet offered for money. The road will unquestiona-
bly, be of the most profitable in the country and
it will be paid for by the sales of land granted to it
by the federal government Hence there will be no
interest to pay The expenses will embrace only the
cost of running. The net revenue applicable to
stock dividends may be estimated from the fact that
other Western roads, in less eligible situations, sell
at immense premiums, say Southern Michigan l24,
Madison and Indianapolis l03, Michigan Central
l07, Northern Indiana ia. These roads have all
or less debt the interest on which takes prece
dence OF dividends whereas, the Illinois Central
soa6 706 miles long will be free OF debt, aording
the stockholders the whole benefit Of its earnings.
If this stock should command only fifty per cent,
then the subscriber to every 81 900 bonds will make
sl50-say fifteen per cent bonus
The receipts at the Office Of the Assistant Urea
surer OF this port to-day amounted to $65 ,428 A.
payments, $l12,l5 l2-balance, 81, 1854, 259 A..
The Harrisburg, Portsmouth Mount joy, and Ian.
caster Railroad Company have declared a semi-an
nual dividend Of four per cent.
The Knoxville Statesman Of the 30th ult says
"Ihe failure of Mr.. Chittenaen the principal stock
holder in the Bank of East Tennessee, renders the
failure OF the bank if not certain at least highly pro-
bable. 1t has, during the last few days redeemed
large amount of its paper in gold and silver and will
doubtless continue to do so long specie remains
in the vaults with which to redeem Holders of
notes would do well to present them promptly.
The Directors of the American Fire Insurance
Company of Philadelphia have declared semi-an
nual dividend of four per cent The Franklin Fire
Insurance Company semi-annual dividend OF six
per cent, payable on demand.
The Chesapeake and Ohio Canal during the past
month has exceeded by ten per cent the business Of
any previous month At Georgetown about 10000
bbs. OF -four paid tolls, and at least three hundred
boats arrived. There were tolls paid at Georgetown
on eight thousand tons of COAL but that less than
one half The coal tonnage Of the canal for the month";
other produce in proportion.
The first boat this season came through the Morris
Canal to Newark on Saturday, with cargo Of coal.
The assessed value of real and personal property in
Chicago, Illinois, according 10 official returns in
each of the past fourteen years. was as annexed -
PROGRESS or oHIoAco--yAIuE or REAL AND PERSONAL