New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-11-25

and the Fort Wayne and Chicago halroad OomPa-
MES have both established sinking funds out oil the
net earnings of their roads, to be exclusively and
irreyocably applied to the redemption oil the mort
" gage debt of the Company
The continued fall OF stocks has produced the sus-
pension of several parties operating IN the street, bat
such failures are scarcely worth mentioning, and, IN
deed for the last six months it has been almost daily
for parties to be unable to meet their stock
contracts The failure of regular stock operator is
of no more real significance than the breaking up OF
faro bank.
The Collins steamer tomorrow has but about two
hundred thousand dollars in gold engaged and one
half of this would not have been shipped If it had
not been purchased before the decline in sterling
The Money market continues in much the same
position as before noticed, too stringent Tor comfort
to the general borrower, but stu moderately easy on
frstcass securities TO borrowers who are known 10
be prompt in repaymens when called upon. There
is good supply Of paper in the street, but oil de-
srable names the supply is little, if any in excess oil
the demand. OF secondclass names the quantity IS
abundant and it is selling at high rates of discount
Strictly rstclass paper is ~ cent, with an occa-
sona transaction at 10 p cent but the bulk OF the
paper in the hands Of the discount brokers goes at
1924 p cent The banks are contracting some
what, as they are losing specie TO some extent this
week, to the interior
We think we can see to-day some little points OF
what looks like daylight the financial horizon. The
decline in Sterling Exchange below the specie point
is one Of these and if it should hold so as to check
specie shipments, we should soon have more easy
state of things here The Unexpectedly large receipt
Of gold by the George Law is also favorable feature,
as is also the small shipment by the Collins steamer
The continued falling of in imports, in connection
with the small amount Of orders sent out for spring
imporations also argue well for the future kromthe
West, we have no advices Of new disasters, but on
the contrary that financial matters are as
suming quiet aspect. Exchange at Cincnhaii' "nicu
was 6as y cent, is dull at v cent, ana goid,
which was sent there has been returned anu
orders for gold to be sent to Cmcago nave
been countermanded. These all certainly
encouraging features; and to these must De adued
ono wbicb in view Of the sensitive relations between
,be London money market and ours, is of great i'm
I,o,tapce. For many months there has been con-
,jnued and extensive drain of precious metals from
England to India. This drain, with that to the Con-
tinent has been sufficient TO contract largely the bull
lion in the Bank, notwithstanding the immense re-
ceipts from Australia and America. The current has
now changed and the last Oriental steamer brought
10 England f236 900, and the East India Co. were
about 10 import 81 500 900 for their home demands.
In consequence Of large exports and light imports,
il was believed that each succeeding Oriental steam
er would bring a considerable amount OF bullion.
This new feature in the exchanges of England is an
| exceedingly important In view OF all these
facts il would seem that the financial clouds were
lifting little We shall not have full sunshine very
soon-t will take time to recover from the set back
we have had-but we shall have comparative case.
A letter from Charlotte, n. c., states that the
Union Gold Mine is now in operation, and that twelve
bushels of best ore yielded 2,e4o dwts. in amalgam
worth s74O. This is equal to eco y bushel
We learn from Indianapolis that the bank-no,e
excitement is subsiding The Auditor is canceling
about $500 y day, giving State Bonds for them,
and the aggregate circulation Of the free banks is re-
duced below four millions.
The Directors of the Watertown and Rome Rail-
road Company have laid before the holders Of their
stock Report dated Oct. l. 1854, the occasion of
passing sem-annual dividend, which, till now, has
regularly been made since the road commenced Op-
erations To account for the decision not to declare
this dividend, tie Directors say:
at is necessary TO state that the unlookedfor influx
of business which followed the opening of the road
has required an outlay for equipment and accommo'
dations. Though not exceeding present and future
wants. disproportioned to the cans at command,
Company's credit-wheh has resulted IN floating
debt.
Although the net earnings the past six months
would warrant declaring dividend, enhanced as are
prices in every department of business except railroad
fares il would require TO be done at the expense of
carrying along this floating debt at rate of interest
comparing untayorably with the rate of dividend.
The Directors believe they do not hazard their haan-
cal reputation, Board, by applying the present
accumulation of earnings toward the extinguishment
ofthat description Of debt which would cost more to
hold in suspension than the same amount would earn
while employed continuance OF the opposite prac-
tice all will see, would only tend 10 enhance the
cost of the road, or the capital on which to make
future dividends"
The prospective advantages Of this road are emu
merated, and appear to be real, as may be seen by
the report, copies of which may be had in this city
at the banking house Of Duncan, Sherman & Co.
The whole line is set forth as being in fine condi
ton from Rome to Cape vincent,'s7 miles; ample
depot and workshop accommodations, with full equip
ment of rolling stock.
There has been gradual increase OF receipts from
the commencement; year ending Sept. 80, 1854, be-
ing about s43, 900 over the previous The first
dividend five per cent, was paid January 5, 1851,
and has been followed by four other Ike consecu-
" tive semi annual dividends making Eve in all the
" last having been made payable LIST April, 1854,
"equaling nine and One.eighM 9I) per cent. per
nun up TO that date, lor u per cent. to Oct. /,
NsS4 The capital stock is 81, 500 ,OOo sl,372-
geo paid in.
1o'.. COS, OF road and equipment, engineering
ACKNOWLEDGEMENTS. &2OtQ af s.
..--,,, MEANS EMPLOYED.
AHeunt pad n On capita soek. 81 81 400 %
An't q Funded Dett outstspdips so go AZ
Thn amount Of The Floating D,b ia lI ss aso Sf q
Total amount of Flo.,in. bebt No nor, Dt'r
tons Of which payable IN
and SyesD..s................. no "a
From which dsdoes snocnt sp- '
Piled IN above eonstrue;or
eoEht's......ss.'s.'.'.'s...... l59.iA IS