New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-10-23

and Brsz bark Eelveu about 800 tuns 800 cash Tbs
since the Of in the East and
captain get orders from the owners and daring
bring she IS an Dgy looking erafs bull DOG DO aud
hois generslly Ike a" Dateh Lager"
In Port yestsfdsy- Barks................. %
stsmera............ y 6ngs ................ ~
The amount received ct the SubTrensury was
a7e,657 paid, sls3,o29 balance, Sc, l3l 81. The
Assay Office is turning out fine bars and such is
e perfection of the process that they generally OF
1851 900 fneness which is 81 900 better than the
Philadelphia bars. 1The Money market was quite
stringent to day, than early in the week. 1t
is well that the general contraction Of business has
reduced the wants Of the mercantile world and OF the
street. the str1gcncy would be decidedly uppleas-
ant. Loans range from TO y y cent. on the best
securities Paper il as before quoted with the bulk
Of the business at l2al5 y cent. A transaction in
Illinois Central acceptances was made at Is cent,
but railroad paper goes generally at ls cent.
large part Of the demand for money On loan comes
from parties interested in State and Western crculat
ing banks, who are having notes run in upon them
very freely. The Indiana Free Banks are suffering
severely from the lack Of confidence in their notes and
by the operation Of the Ohio Small Note law. About
one-quarter Of the Banks have made arrangements to
redeem in Wast., and their notes selling at y
cent discount the the State Bank notes; the
other Free Banks are selling at l2l cent discount
In relation to these Banks, ThOmPs0RS Bank Note
Reporter says:
"Indiana Banking has come TO crisis Ii now
becomes interesting to know what bll-hoders rights
are in case Bank fails. The notes must be pro
tested by Notary and lodged with the Auditor, VINO
notifies The Bank The Bank has then thirty days IN
which 10 redeem If payment is not made within me
thirty days the Auditor then proceeds 70 sell the
Stocks at public auction, and, Gf we read the law
right pay all protested notes in full and then do the
best lie for those have not been smart enough
10 have their notes protested. Free Banking in In
diana is DUES for Our quotations for Indiana money
cannot be relied uponfOr large portion of it can
not be sold at any rate
The Directors Of the Erie Railroad were in session
to-day and adopted a scheme Of finance by which it
is believed that the Company will be entireyrelieved
from its endorsements. The scheme is substan-
tsBy that q Mr. Moran, one Of the new Directors,
and met the approval Of the whole Board. Propo-
rails win be issued in few days for loan Of $4,000
600 in Seven y cent. Bonds redeemable in twenty
years. sinking fund is TO be established Of :35 900
y month, equal 10 $40 600 y annum, in the hands of
trustees independent Of the Company, which amount
with the accruing interest is TO be invested monthly in
these Bonds, long they can be purchased at or
below par. Ii they cannot be 80 purchased then the
trustee ia to purchase any bonds Of the Company
which furnish the cheapest investment. When the
operation Of the sinking fund or the conversion Of the
Bonds of 1862 and ie7l shall have reduced the debt
Of the Company to $50, 10000, the trust is TO be
closed, and The Cancelled bonds returned TO the Erie
Company, which viii thcreupon make dividend in
ttock equivalent TO the amount absorbed by the sinking
fund. This, In 1865, it is estimated, will amount TO
AZ cent. tho present stock If the sinking fund be
not cOfed before by the conversion Of bonds II will
be that about ninth Of the loan viii be
cancelled every year. The Company continue to pay
the Coupons ON the Bonds taken up by the trust, 90
that each year the amount TO be invested incrolses
The proceeds ofthe bonds viii lee sulicen, to clear
the Company entirely from debt including the reiemp-
fon of the Income bonds due in February. The est.
mate Of the future earnings leave no doubt in the
minds Of the Direction that cash dividends on the
stock can be resumed in 1855 or 1856. The estimate
IL a. follows
lneeme. 100000
Expenses, s. p cent. SS 600
- s5,Eo,5OO
Surplus, - p cent $1,000
The Superintendent is confident he can operate the
road at so cent but in the estimate s. y cent is
fsken. The construction account is to be permanently
closed, excepting the expenditure Of any surplus from
tho sale of tho new bonds after meeting the demands
for which they more Immediately issued.
In consequence of the Simultaneous arrival of large
caIgoes OF Sugar C"H"~
week 90 Wv ana Tee the Impor.s this
|Yn.'. ''aA ny ny Goods are large, amounting to
s4,lOesle against l,o5s,9i9 same week last year.
The principal articles were Coffee, s2i5 e0O Cigars,
s54, 1905 Earthtnwme, s35,9OO; Hair, $4,000;
Brandy, ssh lOOi Hides, sl77 400 Iron, 1906, sooi
Tin, s67 ,sOO Steel, s5i, 200 Lead, SO 3OO Rags,
s3s,6OOi Sugar, s77,6OO Tea, ;aOa, 100 Watches,
$4,000.
IMPORTS FOs rHE wErX.