New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-12-21

During ne months Of September and October the
receipts Of the Road, owing IN the epidemic which
prevxSled at the South, fell of sac 900, as compared
nth the receipts Of the corresponding months in the
previous year. The Company holds valuable assets
in other dividend paying corporations, but in conse
quence Of the extreme singency in monetary aft airs
find it impossible to realize, unless at great sscr lce
and the Board Of Directors recommend stock divi-
dend of 10 cent. The reserved fund Of the Com
pany amounts to aAse 23a 4s.
We are requested TO correct a statement in regard
TO the assignment Of Seden Wishsrs 81 Co., which Is
going the rounds of the press originating with TIE
Washington Globe. The most eseensnal errsr the
classification of the creditors. The first and second
classes are merely nominal. !. The expenses OF the
trust and averages of clerk hire. 2 The sum Of 3d.,
COO TO relieve 500 900 Railway Bonds held for &C
count Of the Virginia and Tennessee Railroad Com
pany This was essential to the final settlement OF an
account involving nearly $500 600. The clause IN the
assignment dOes not require the prefer ed payment
ESQ OOO stated BY The GLobs. The third class OF
the creditors the holders OF the circulating moves
of the Exchange Bank of Selden, Withers q %.
These notes, under any circu Instances, wcuo De an
Offset to the bills receivable and other deos uu5 70
the house. Then come the geGeral cIeoeors, Deihs
individual depOsitors and the BO4rd OF fuoic orss
of the Com Iionwealth Of Virginia, IN common. IL
was lot deemed proper even if pracucaoe, 10 make
distinction between the two, and there sohIa nave
been no justice certainly IN prefefrhg the Doa,a VI
million of dollars 10 the house for their own eonve-
pence The second error Of The Globe we are assured
relates TO the magnitude of the unadJusted balance
between the house and Board Of Public Works.
This balance, all proper credits allowed, can 10 no
reasopable event exceed oae.haJ the round sam OF
ssOO. 600, charged by the Washington pager; nor
would the balance have approached the sum of even
s4OO OOO had the Board cooperated with the firm al
ter their misfortune in spirit OF beralty aud with
reasonable sense Of judicous management, IN saw
ing the heavy margins between the money borrowed
and State Bonds hypothecat4d in conducting the i'm
portant negotiation inirused TO tnen Another error
relates TO the value Of the assets assgnet particular
y the claims upon the Ches apeake and OHIO Canal
property costing els 900 900, and the smanagers Of
which have made special preferred claim, for money
advanced to pay the interest their Preferred Funded
Debt to the amount Of $40 600. The other claim
elGO COO, consists Of part Of this Preferred Fuaded
Debt, represented by Bonds known in the Washing
ton City market, and scaled in the valuation OF the
assets at so cents on the dollar. AZ 10 the book bal
spces, or bills recevable-sl60 900 against X. w.
Latham, and Sos 900 against other members OF the
house-they bind the private property of these gentle
men to the full extent, and the available value 1t Is
believed cannot fall short Of one half although the
Washington paper appears to have set down the whole
$685. 600 as lost. lDauy lines