New-York daily tribune., 1854-08-26
made BY the Erie Company with Messr. Brown, Bros.

& Co had failed by reason Of the failure of Mr. Henry
She6sn and the withdrawal Of Messrs Cornelus Smith,
Shepherd Knapp and others from their responsibility 70
Messrs. Brown. We are auhorized by the Company -
sny that the statement alluded to II without ouniation, and
that the Messrs Brown have fully carried out the
nent ss negotiated.
The new arrangements alluded to yesterday going
on satisfactorily but any premature publication of details
would en- mbarrsss negotiations.
The Times also in opinion very njudicousy, pub
hes reported failure which has not taken place, and al
lude to trouble in Of the uptown Banks, which
trouble amounts nothing but little expansion which
being reedied. The Banks of the City in the aggregate
we're never in better condition than now and we learn
from the proper authority that the small Banks
alluded to- which through the nexperence Of their mana-
gers had got beyond their depth, will in few days be all
right again.
The amount of gold engaged for the Union tomorrow,
at late hour this afternoon was about s2OO,oOO Inc
amount has been restricted by the advance in regh to
tptr cent
In the present excited state of the public and the
predposi,iop 80 TO speak financial panic the crcu
atoD of rumors Of failures either verbally or through the
public journals worthy Of severe censure a. tending 10
produce that very Of things which should do our
utmost to avert Many failures have doubtless been the
result in times Of embarrassment in the financial world OF
the circulation Of such rumor in some cases the nven
ton of malice and in others but idle gossip. Credit Is
truly sensitive plant snd must be handled tenderiy
We have made il rule 10 alude to failure until
after has taken place and in future shall report none
unless that Of some house Of marked importance.
In reply to our paragraph Thursday in regard to loans
on Harlem The Express says:
"We DO not think upon again reading the paragraph in
question that the money editor o. lHE IRIBUsE coui1
imagine intended to impeech bis veraciiy we doubted
The fact stated that parties offered to lend at 40 on Harlem
stock
Then we don't know the value Of English words The
Ezpress said: "A morning cotemporary no DOUBT r10Ht
authority the italics not ours- that don't mean
that we invented the statement then it don't mean any
thing. Tie Express adds:
But certain individuals firms who have contracts TO
deliver stock high prices and willing to assist their
debtors fulfill obligations to the lenders cannot De con-
sdered AZ lending farly[tha is iendng money en ae
lead and of does harm than good As such
We noticed it, without however having the rernotest in
tenton by implication otherwise OF charging The
TRIBUNE with InveDting the facts
We did not state that any party would lend 40 lndis
crpinately on Harlem. We did say:
In order to assist parties who have stock 10 receive
the leading stock houses having to deliver THAT s such
stock have announced their Willingness to lend 40 the
stock"
However VIC accept the denial of TIE Express in its
fullest sense
The Housatonic road is doing encouraging business;
s July receipts exceed s33 OOOthe largest amount
tax Ken in that month.
The Ohio and Pennsylvania Railroad is now doing
much larger business than before The passengers
caed in July were sOO and the passenger receipts in
August are largely in advance of July. The through
eie bt over The road is twice largo it this
lat year. and the increased receipts i'll eight months
the ondng period of 1853 will exceed the est mated
incease for the whole year. Freight is now carried
through from Pittsburgh to Cincinnati in IS hours
and without transhpmen and large amounts of through
goods for distant points in the West taking that
route On Saturday last 500 tsns OF freight from the West
came into Pittsburgh over this line.
The Caro- Ql) Times states that all that is now neces
ary place hundred miles OF the Central Railroad
in operation from that city due NORTH is transport the
bridge framed in that city to Muddy River aud place
il on the abutments That one hundred miles Of road
opens to Cairo not only of he richest agricultural
regions of Illinois but bituinous coal in the abun
dant supply.
II is not generally known that Of 1885, 1872 miles Of coal
beds in the whole Unon A. 600 miles in Illinois, and
thai the s section the Central Road connects that supply
sxty miles with the confluence of the Mississippi the
Missouri, and the Ohio rivers.
That section of the Illinois Central must be to Cairo
and tie whole steamboat and iron interest of these vast
rivers what the Reading road TO Philadelphia wiz tho
come Getting link between inexhausble supply of ard
boundess demand for coal.
postscript to IhoMps0nS Bdnf NOte reporter says:
In Michigan the Peninsular Bank and the Government
Stock Bank oil the Free Bank principle and their
notes amply secured.
In Vermont the South Royaon Bank and the Bank of
Castleton Free Banks, and are, we THINK also amply
secured, -
Droveis Bank Ogdensburgh n. y is secured 50 that ts
notes will be worth 80 to 90 cents on the dollar.
TIE Clereidnd Herald, in announcing the appointment
of Register Of Stocks in this City for the Cleveland
Columbus and Cincinnati Railroad says:
We learn that Immediately after the disclosures of the
Schuyler frauds and the request Of Messrs Winslow
Lauier & Co. the Transfer Agents in New \ ork, the
Board directed an investigation OF the books OF the
agency and the faithful and accurate Secretary OF the
Company, Mr.. Williamson, charged with that duty.
MI W devoted three weeks TO the exaninaton-durny
hob be traced each certificate of Stock that had
been ssued from the Office in to ITS surrender
OF 10 lis present holder, and found that there had
been ISSUE but that in all respects
the books had been properly kept and the bust
Of the agency satisfactorily conducted. But
the Board have provided additional quad against
frauoueL sues for the future IN requiring certificates to
be counrrsgned by Register in addition to the sigma
tuI, Of the Transfer Agents as heretofore.
rs understand it, the book of certificates signed in
blank by the President entrusted to tue keeping OF the
Register, who is distinct officer from the transfer agents
A person desiring TO obtain certificate surrenders
be od ouo to Winslow Laner Co.. the transfer agents
by whom il the transfer ia found genuine and IN due
0Im is cancetdthey subscribing their thereto,
With tie dae-ard directing the name IN which the new
certificate is TO be made out This certificate then pre-
s,bted the Register who personally examines the trans
oIs and found right also cancels the same endorsing
tie cate an0 his own signature. He then fills up and
eouutt rgns certificate and returns it to the trans
ter sgens, who counersgn and deliver 1t to the proper
party.
ports monthly TO the priucipa oticeto which also the
canceed certificates returned at stated periods.
1t appears that this system of checks is perfect
from The high character OF the gentlemen filling the
responsible positions of transfer ageus and register, an
improper issue of stock is rendered impossible.
The buying price ofand warrants s 100 acres $780, 50