New-York daily tribune., 1854-07-10

esyjpr large sorn Of bese securities on call for these
cspssts who 1re now scattered about the country on
ann excur nus and cannot be found to respond TO
% sudden q call for money. Consequently Messrs DE
.unay e,ip e. Clark, who stand between the lenders
and tLe real borrowers are forced to suspend Their
other business go On as usual the Stock contracts,
4, nv stste will be duly met.
matter truly Of congratalaton that under such
1sse Of things has prevailed during the week ssch
Aesvv fall In Stocks and other securities and such With
arswsI Of confidence from coateras which the usual
source for borrowers there shoud have been few
penon II shows the real strength Of the street. and is
extremely gratifying We sincerely tras; that have
nov the Of the present Storm that the coming
week will do much toward giving confident and
sttsd Of financial affairs. Such result can be ma
sraly ass,ed by generous forbearsnee upon the part
of banks bankers, and other leaders. Such foroer
apee we know has been exercised by several leading
houses who have only asked that the conaeras DC
made sufficient Ii such forbearenoe should be exercised
by all week or two would in smooth water again.
Our banks are improving their condition and nereas
ing their specie the foreign advices are certainly Of
tbe most favorable character Under ordinary circun-
ssnees this state Of affairs would have produced very
buoysnt feeling in the financial world, aud will yet, if
cen but escape any new shock
The private letters by the steamer are very cheerful
They speak favoraby Of the condition Of monetary rs
and some express the opinion that the bullion continues
to increase the Bank vi. reduce the rate OF interest to
CT. There considerable disposition to operate IN
An ercan Securities, and hear of sales to quito large
amount. There was also fair amount OF ordefs c"o
out TO the Continental houses.
We are glad 10 learn that the injunction on the payment
Of the interest on the Bonds of the City Of Buo ms 'e
removed. a.,
A suggestion il IL understood, has been maoe " '
officers Of the Michigan Southern and Norinerh in0'
t.< t(y
pube mind il might be proper for the leading ha"foao
.,,o,s,iops whose securities sold in this market, 10
mite in ome course of action calculated to avert the de
srucon of confidence and tho consequent sdcrhces OF
so,k property BY stockholders ODepoin had IN Vew was
bv concert among the different Companies represented
here TO establish general system OF Transferring
stocks and issuing certificates which should be Pracea
bic operation and should at the same throw as many
ruatds as possible around the transaction
The works upon the unfinished lines of hs Michigan |
Souherpsrd Northern Indiana Roads arc progressing
tcsdy toward completion About 10 miles oil the jack
sep Branch Of the Michigan Southern Road have been
come time completed; and the grading and track1ayng
arc proceeding without interruption upon the remainder.
OF the Goshen lines of the Northern Indiana Rond from
30 TO 40 miles are already completed. Seventy miles OF
the line extending west from Toledo will be done by /
the first day Of September; the remainder OF the line to
oen il under contract to be completed by the first day
of January and il will be done are informed, near
that time.
These two unfinished roads--the Goshen line of the
Northern Indiana and the Jackson Branch OF the South
ern Michga together 100 miles Of new road
The estimated of these works is about 80 100000
twas riginay intended to provide for this cost by
issue Of stock the amount Of 81 Oo0 aud of Mort
r,co Bonds 81 OOO of which 100000 should be Sc
cured upon the Jackson branch, and 100000 upon the
Gosben line The change in the market for Railroad
Bones since the commencement OF thefo works. has rem
dered it impossible for the Comp my to negotiate these
rii,s upon satisfactory terms The Company having
sold 10 all not to exceed $3.50 of the sjOO0oO OF
Bonds have preferred withdraw the remainder from
the market and provide by stock for the compile
Ii. Of their unfinished works. portion OF this stock
was issued last summers another issue made in May
last and the baai has Just been authorized and Is TO
be oistr.buted among tho Stockholders the lat OF
August next. This will complete the Road and
81, ok is expected to be created.
Upon the completion of these works the Company VIII
have 4G5 miles of road at aggregate cost of aoout
sll COO 0oo equal about s23, 900 per mile. The
ings upon the road IN use will probably reach
S. Geo for the current year. Allowing As cent for
orcrapg and repairs, will leave sl,loooo0 for payment
Of interest and dividends II is therefore, that the
line Of road 3l5 mes) completed is actually earning
enough pay interest upon all the debt the Company viii
owe and 10 cent. dividends upon al the stock it Will
have when the whole 465 miles finished This caleu
lation insures the stock 10 cent investment il
the 100 miles of road TO he entirely unproduc
tive But far from being un2oducIve, the works
will add much to the earnings of the Companyi and if the
earnings reach e. 900 600 this year. they will it is est
mated be s2 500 900 to s3,OoOoOO the first year after
these lines are completed and brought into use.
The Imports of the week other than Dry Goods are
o. s2s, ,74s, against 2o77 week hast year.
Among the articles are
Coffee 800 Hides s2s 100
fartftlwart ZION S<'<Ov
Iios Rutber........." S41i 9jyn
o'svv
sfthss Spt Lead'''''.. oi'V !