The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-10-05

half ON the let Of Noyerr br 81 md the remainder
the lat of Novemssr 1854 Said stock will bear IN
teres at the rate o. Ave per cent per annum, payable
quarterly Proposals III be received for the whole or
any part thereof, until Wednesday, October H. at
o'cloekP NJ
The total expectation of specie from the port OF Bos
ton from January to October 1854 mounted to So.
Gs9,o0s 81 s; inn ports in the same time, SOL ,45s
The warrants issued at the Treasury Department,
sshir gson, on the I'd inst wera3--
For the redemption Of stock ............. s2l15 81
For the payment of osher Treasury debts 5707z 60
Covered into the treasury from lands ,,.,. 254 90
Covered into the treasury from Customs. $50 90
Covered into the Treasury from misceDaosous
source OBSERVATION-DISCLOSURES ~ ~
For the War Department. 1890 90
The denomination of coins hand at the United
States Mint PHILADELPHIA at the close of business Sep
temher so, 1864, was as follows
Gold-Donoe eagles, $780, 200; eagles, s9s 4ao; half
eagles 1904 3s5 quarter eagles, 5.7l os0 thees dollar
pieces, s3Slsi dollars, $500 bars sS6,55i 6lIota,
siiper--poiars, s2s,ss0 half aolars sl3s $50 SO:
quarter collars Si75 Ss dimes, $4,000 co. halt dines,
s7hets .t three cent pieces, s3ia CO. cents, 81 12io
tai $40, 246 81.
The earnings Of the Cleveland and Toledo Railroad
Conpsny FOR eptembsr sac oOo against ISL in
1853. The gross earnings Of oad the consoia
tion Of The original companies have been 1857 100 IS
The operating expenses and interest for the
some Tune. '.......'..''.....,'' a"'ss AZ
Leaving as net profits s27s. $50 IS
From t1is . dividend of per cent
paid April g. amounting l32,679 81
Leaving profits undivided of.........Sl46,9i l 40
The receipts the Chicago and Mississippi Railroad
for the third week in September, were s2e9 l5 %.
The President Of the Philadelphia, Wilmington and
Baltimore Railroad Company makes the folio wing state
ment to the stockholders -
The net earnings Of the Phi delphs Wilmington and
six
August 81 1854 have BEEN after deductng the ususi
appropriation to renewal fund Of $4,000, little
$3.50 Of bonds, authorized to be issued IN January
1853, for improvements, other than the bridge and
double track These Improvements have already beea
made AM paid for, BY using from time to time the
pgs OF Tia road and by the creation OF floating debt.
rest till the late unpar aeled strngency In the money
market This company also has availabl means, be-
boats stocks &C., about $3.50, 600 which properly It
was the intention Of the directors to dispose Of from
time to time and apply the proceeds 70 pay the floating
debt and the treasury for the atngs used
fer improvements but they not been able to dis
pcfe Of it without too great loss Rather than sacr
prsens Depressed stats and thus rsmSursng the trea
sury for the earnings used on improvements the drcc
have concluded to postpone declaring any dividend
till January next when they have no doubt they win be
in . condition to pay the usual dividend.
The directors Of the Ogdsnsburg Railroad Company
have issued the following circular explanatory of the
reasons why the October interest the bonds Of the
company has mot be8n paid -
At meeting Of the directors held this day. the finance
committee submitted the following memorandum Of
earnings and expenditures In the traffic department,
during ire half year ending the soth sePtemoes inst
that department the LIST Of April next This sate
mt was made With reference to the payment Of bond
interest, due October let
Half Fear ending October !, 1864
Eainngs. SOC ss sso 20
rApeLSluIes. ZZo,o40 50
Net earnings sie4, 4so os
On April lat las, was anticipated to pay bond
interest due that doy of the earnings
during the abov. half year. ....,...... s7s75 90
earnings during the same PERIOD by 90
eeptapcss In favor of various parties, for
shop materials and ......,......... 11,4T6 0s
Balance due connecting roads ........... 2eO0 90
TOTAL. ........~.... sol, S5l 90
1be net income as an available cash resource Ia sub
ject TO reduction account Of uncolected balances
and freight bills and investments in fuel shop and road
stock The result is that the whole net income
ard that Cc.ober let next the corporation viii have
no resources from traffic TO meet bond Interest due that
This interest Is In amount 1852 $50 so.
The alternative is loan at high rate Of interest.
The only security which the corporation has to offer
" the future net income limited TO that earned during
the half from October lst TO March 3ist next
April LIST following there il due another semi annual
interest payment, Of say si62, $50 So There is NO
REASONABLE ground for hope or expectation that the net
income OF the half terminating March 3lst next
W. ss.ssS that q the period q
o. ~ rcnewss Of iron and will comparative
y reduce IT, Supposng tho net income should amount
to $50 co., and be applied to the disc barge Of loan
de at this tmo TO pay bond interest due October
there would remain Of ths loan unpaid March Stst
next, 460 co. and bond interest again falling due
April following OF $l52 4S0 5Omsking Availability
that day account Of bond interest," Of $29 900 60
Is apparent that lean TO pay intsres, falling due
Oct l. ID tsmpos xpedent, aud would only lead TO
creased and permanent embarrassment It would not
be made with reasonable prospect of pson, and
therefore 1t is justiHAbe Neither there prooa
by Of sach increase in the traffic OF the road With
in easonable period Of time would render pru.
dent 70 create liability dependent upon that basis for
its nlp idA.ion.
W. RAYMOND LEI, for Finance COMMITTEES.
BoeroS, sept "a, 1854.
whcreupon the following resolution was passed
Whereas, II appears, from q stftement made by the
finance committee that the income Of the half year
terminating Sept Both Inst has been heretofore sntici
as and by acceptancss to discharge absies incurred
in working the road andi that the corporation Is
funds to meet bond interest duo Oct LIST proximo,
therefore,
Resolved That is espeient 10 view OF the credit Of
the company the condition OF the money market and
the nadequssy OF the Of the road from Its
traffic, to pay interest funded debt 10 negotiate
loan TO the bond interest due said O,t 1st aud
bat the president awe public notice Of this decision Of
the directors.
The annexed statement exhibits the receipts from
customs at the port OF Philadelphia each Of the arst
nine months In each Of the past three yeArs:-
COMMERCE oy PHnABEtPfHA-KEcEpTs saos CUSTOMS.
January. .sals,777 50 s26T, oio Is s5so,Soa 70
ah-ns m al ma