New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-10-16

t4touA~ S-"-s~'' anu rates nave tended upward Tor
time loans and oiseoupis. First-cIass paper goes
at y cent, with an occasional tr.ns.o-
ton &, loS1r figure. Call loans are 7
! cent, and time loans l.sls v cent. Tue
| Bark Beport If Monday will chow considerable
decrease Of loans and discounts and probably also Of
deposits The excitemsnt ia relation TO the up town
Banks bar r1ta,uraby subedod aud no further sas-
pensions are anticipated, unS'ss some uafsvorsbio
change appears There is not quito 80 much uucur-
ren, Onoy pressing the street as there was earlier
in the week The Dry Goods trade is not scdvs
ameng the jobbers. Tbe auction sales continue to DO
large and prices msintsined. Al private sale tho
importers not doing much.
There appears to have been fair but not large
amount of orders for American securities received by
the steamer large proportion being for Erie shares
and bonds, and Illinois Central shares and bonds.
letter from London quotes considerable activity in
some descriptions Of securities at advanced prices.
Fries, ls69 had advanced from G3 to 10 a1a Eries.
lss3 from IS Is to 20 a So and Illinois Centrs from
IS to 20. Some Of the orders are limited too low to
be executed, as market stood much higher seer
the latest quotations on the other side.
The President Of the Knickerbocker Bank sus-
pended is understood to have made himself very &C.
tive, last year at A bany in endesvoring to obtain
repeal of the weekly statement act.
The report of the Examining Committee OF the Eric
Railroad which VIC publish below, Will be read with
interest and we think generally with satisfaction by
the stock and bondbolders Of that Company Tho
Committee sppesr to have made pretty thorough
examination Of toe affairs of the Road since sept 30,
1889 ard with he exception OF the payments OF divi'
del ds when not earned find but little to censure. The
mis- statements in regard to the amount Of the floating
debt appear TO have been the result of making objects
Of various kinds. The system of reporting receipts
Of the Road instead OF earnings noticed In tho
report, has since been abandoned. The
report shows net earnings for the yoar ending 3oth
September last part estimated, at s7i50so, about u
y cent The cost of working tho road is placed at
53l y cent but this, it Is thought, will be largely re-
ducod in future. The present management of the ros
is complhnen,ed, its mmense value freely admitted,
and the report concludes with some very judicious
recommendations, which the Company will do well to
adopt The public will scarcely be satisfied with any
thing less. Especially must the construction account
be closed, and the financial embarassments OF tho
Company be entirely removed before any dividends
arc declared.
REPORT TO rIE BOARD or DIRECTORS OF THs
NEWBORN AND ERIE RAILROAD COMPANY.
The Committee organized on the lib alt, at tue
request OF your body to examine into all the books.
"papera accounts and transactions OF the Company,
submit the following Report
SUBJECTS EXAMINED.
Under the authority derived from tho Board We have iu
l. The system Of Checks and Accounts
they corre,pcnd with the Books
) Tic state of tho Stock Account
The amount stock and other Indebtedness VI the
The principles governing the Classification of Construction
and TIsI srorssiion Accounts.
The Construction Account
Rail frgk &c
"S g. TX Prorer,y of,hs Company.
g. The ordinary Of Income,
II The gross and a. Warnings as exhibited by the Books
W have se inquired mo such Of your Board have
Gene incidentally in nyess sting the above subjects
THE PERIOD SQrIRED INTO.
~ Compete 1cn-r cf9iss,o With Jaas 90 1854 With
os 1SP 81 p1 secgT, 70 ps@ss 80 1854 The Is.oa
lion sos,d Invited iogary for such Pc ods - we
Gompnny concerning the same oncooaltos with each
Sh s he S sS.Se a +, .os s TO sopsuSs 3d. At
which tine The oad had been In operation neahy year and
r George Holbrook OF Boston an experienced accountant
wsl yered IN rsioses sgd recently syeraey Known To this
tioD. tuRd the officers OF the Company ready to
rbder tysiy assistance IN their rcwer and TO answer 81. ques
uors We thereto, feel Justified IN assuming that the oIsmi
nac thorough fos he time wheh covers and the subjects
70 which Il relatss.
REPORT oF SEPTEMBER 30 1852.
We assume The condensed Bssnee Sheet Of 1881 hereto
suuexed "a exhibit Of The affair. Of the Com
osiock end lauad lt esrt9 eo,eeuOe. Sslps made in
pear by reference to the note to Schedule "a
You observe that dlacrepsne.s exist betvssn
that atsmn and the published report on tho standing Of the
Compaby at the sane by tn. Treasurer
Of law Thee dsorePsuees are principally a. ioros,
nor, a. 3SO55 50: whereas including unpaid interest and
dvden5 sB &C accounts and othor
bs5 ssI seeouns and t receivable Ssis %
Balance Floating Debt On s2ss4 toe 50
soad The Pssepssr Fel.ht aud other esfnns' are re-
pres, Dted 10 the report a. ipllOSs; ... -
Pn DstI Ssleb 81
Rleght. sss@ 70
r., a. .sI Jss "a
a. he same din. were:
Yas.' 1sI q or
,ysg ~
Totsl.......................... t33ls.s6 u
The Grt Sscisp.ncy wss caused BY regarding bn Dsyabis
o. ans Constituting Floating D.bt aud By aeSuetts ION
I'd he el on hand cash for non received
and t receivable The balance assumed to fepfe'ont tho
The eeond dcrspsney caused By reporting only the sd.
OF passenger sud freight eanns without ssaaeSs o1y tn
TEN oter 10 tho report, ms6e ~ by addns tha
Hnd.on River Ferry earning TO the ledger bsinee when 'p
IesSe Soar bods 10 tbs for these ero
sDd 20 whom t"t sc 20 's sn, ~.
e. @ b,t he kno,s ,dse them the then Board Of
b me that the Subject Investigated BY
tLsr oders We bink they erred 10 n9t T.akly exposing
he sasei. Of dividend declared when fully earned.
sfd The Of your floating debt at far below It's
this the Outset led to T.s.d al a.
ter sr etoBs with snplcioa sod 70 scratinze them nsdiJ
Tie results have been highly fsvorsbie 10 the Company
SYSTEM or ACCOUNTS.
The mode r isgos The bob: and ne .s,is1 Of ssse
tincay u Dr. Brf inner the general BOOK Keeper
i.--stG,e ~ .bricm Of Aeeora,. as % Reeeipf'
TIE rue Il that ths 'ssnt. most % % tIs a'y
Uyon The receipt Of The Temsnees - tbs Treasurer hsy