New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-02-16

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The receipts OF the Cleveland and Toledo Road for Jan
usry were s4O5s2 against $4,000 in January 1853 They
would probably have been $4,000 more but for the diff
culies Erie The earnings for the four months ending
LIST February s2lo935. The dividend viii be paid
the lst April and VIII doubtless be cent The earn
Dgs of the past FIVE months have been than cent
over ali expenses and interest
correspondent Of The Times the Harlem
Railroad Company for not devong the gross earnings of
the Albany Extension to the payment Of the interest on the
Albany exteDs Certificates and also for retaining uncan
ceed the certificates which have been urrndered in
change for Harlem stock proper The correspondent is ig
noran Of or ignores the fact that the Harlem Company
have no control over the finances Of the Extension which
portion Of the road is conveyed trust consisting of A
II Holey and Morris Ketchum and all parties must be
governed by the spultions of that rl One Of the pro
visions Of that trVg; is as follows
And II is hereby mutually coyenanted and agreed, by
and between the said parties to these presents and tins
present ndentuTe and the said certificates hereby de-
cared to be made contracted and issued upon the terms
and conditions following
Other provisions
"The said parties the first part the Harlem Co further
covenant and agree credit to that part of the road herein
before described the ExtensOn the whole receipts from
all the line thereof and 10 charge thereto the
actual cost Of the number of miles thereon by freight
and passenger at the average cost per mile on the
whole road TO be escertaned herein before provided
and appropriate the residue to or toward the payment
Of the Interest Warrants the said certificates as the
sane shall become due and payable.
1.-The said parties Of the r part further covenant and
agree that should happen that the net earnings
Of that Of the road herein before described as above
stated should be inadequate the payment of the Interest
Warrants upon the said certificates that they VIII apply
the gro receipts from the business the present road
from stations thereon and stations that
part Of the road herein described far as the may
be Necessary for the payment of interest to an amour:
Tot exceeding three quarters OF the whole OF such gross
"1he said parties Of the first part further covenant and
agree that in the whole fund above provided for
the payment of interest shall be inadequate to the payment
thereof that they will issue TO the holders OF interest
warrants respectively, warrants for much as shall
remain unpaid bearing nterestat cent per annun TO
BE- paid in whole or in part from the first surplus of the fund
to be provided aforesaid after paying and dschargng
the interest warrants falling due and those in arrear until
all such shall be paid of and satisfied"
The redemption OF the certificates by the Harlem Com
pany by of their stock could not cancel the
tcates but simply place the Company in the same position
as the other holders of certificates The Trustees have
right under the trust make any distinction between the
holders of certificates but pay what interest money
in the Treasury equally all Neither have the Harlem
officers any right TO appropriate such interest money
ceved BY them to the payment of deficient interest the
other certificates Such money must be appropriated pay
dividends the stock issued in exchange for the cert
Gates Under the trust the only way provided for the can
eement Of certificates and the vodng of the trust by the
payment of the whole two millions Of certificates by the
Harlem Company, when the Extension road Ieverts to
them.
The New.Yor Central Railroad Company have adopted
the judcous of investing their Sinking Fund II
cent p annum requled by the of consolidation, in
the Bonds OF the Company letter from the Treasurer
the Of Bonds already procured are $4,000
and little over the investment for the first year Pur
chased they have BEEN at 90 they are capital invest
ment for the fund.- and in fact the operation cancels 80
much Of the debt Ii such investments can be made Tor
few years the sinking fund will take care OF all the GER
"tfeaies Independent Of the general liability OF the Com
"pany 1t is most favorable commencement OF the
fund, and viii, presume, when generally known give
Increased confidence in the securities
The receipts Of the Milwaukee and Mississippi Railroad
Company last year-from January January, mode Of
keeppg accounts which think that all Corporations
would do well to adopt when practcabewere s22l 1876 6s
and the net earnings s3434O IA stock dividend OF 10
cent was declared The road from Milwaukee within
sixteen miles Of Madison the State capital VIII be ready
for the cars ne IT spring and the Company in cond
put II under contract 10 the Mississippi whenever
they please The capital stock is Sl,542200.
The Nerork Eagle states that injunction has been
issued by the Chancellor against the Merchants Bank al
BridgetoD NewJersey, the application Of the Bank
Commissioner on the ground that the bank had
acted bona fde banking business Al the place OF its los
ton The circulation Of the bank Is believed to be fully
secured by deposits in the b. nds OF the State authorities
mail from Lake Superior brings US further intelligence
FINN the mines Advices from the Norwich Mine Of Dec.
20 state that it is still advancing and improving They
are taking out handsome barrel and small masses from the
bottom slopes The machinery for stamping is in full
sosress Of erection and viii be completed with the ut
ost dispatch and sooner relatively than wa ever before
done in tina, country Advices Of same date report the
Windsor Mine as working very prosperousiy The olg
,d already in 10 feet and the mine generally has I'M
moved since last accounts The Sharon and Derby are a.
WORK and still keep their early promise to become two oil
the best mines at Lake Superior
In relation to the prospec. Of the Grain Trade ne Lon
do. SR,pping and Msreaathe Ga:ae OF January q re-
marks ...,.s .,..a
the Grain Trade has been kept In an unsettled s'ae,
ewing 10 the continued uncertainty a. to the efinnsl1a
~ affairs In tho East War with Russia would no do1D'
have material effect on prices inasmuch az WOMB 10
nr;ve us Of the supplies which we might Otherwise isry
sctoo ON receiving from that country The last WIZ
harvest gave better return in Russia thsh
more esteeisly IN the South, from whence me bsck
Sea ports obtained the greater portion OF The wnea 'oy
export. ,,-....... ,.., onar,er b,pp
steppsd (which they certainly would be hos,n,'s
shssh be actually commenced cannot therefore ia' 10
A0~s L. Ia.