The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-04-11

An act TO prevent the reissue the circulating notes
of banks whose charters have expired shall hereafter
EXPIRE passed both houses Of the Legislature Of this
State 1t provides that the circulating issued by
incorporated bank whose charter has expired shall
hereafter expire, shall be withdrawn follows The
third port Of its circulating in year onethird
part two years and the remainder in three years
the time this act takes effect and the circulating notes
Of all banks whose charters shall hereafter expire as
follows-One-thrd part in year, third part in
two years. and the remainder in three years from the
time the said charter shall expire But this section shall
not prevent any individual banker bank banking
caton from presenting to the trustees of such expired
incorporated bank such circulating notes for payment
violation of this act to be subject to the penalties pre-
scrbed for issuing bills promssoy notes for the pur
pose Of circulating them without authority Of law To
take effect Immediately.
The legislature Of this State has also passed an act
relative to railroads in cities 1t provides that rail
road shall hereafter be constructed in any street in the
cities OF this State without the of majority
owning property the streets through which it may be
proposed to the Observation-Disclosures had the
assessed valuation of the whole property such street
to determine what constitutes such majority Upon OBJ
tanning such consent, the Common Council may grant
authority for the construction of such railway to any
person giving adequate security after public notice. &C.
The act not to apply to any rail road in this State
constructed or in Of construction to the
tension of any railroad already in part constructed
TO any railroad exceeding fifteen miles in length for the
construction of which company association may be
hereafter organized under the provisions Of the Gene
raj Railroad law Takes effect Immediately.
The accounts from Europe by the Europa of very
gloomy character, and there growing impression
Gf the be protraced) that under the currency bill
Of 1884, exorbitant rates likely be paid for
ney People must not anticipate that matters at all
likely follow the they did during the late war;
when the wants Of the government supplied by
cessve loans and prices artGcaly raised by vast
ssue Of paper money 1t would appear to be the policy
Of the Of the day to make the existing gene
ration contribute largely II not entirely to the exigen
cies Of the time being the effect Of which will be felt in
large increase Of taxation, and consequent dminuon
in the consuming power Of every class in the country
Under such state Of things it is likely that the value Of
all articles but such used for the purposes war
will rather decline than advance The great continental
houses whose capital contributes largely to carry on
both the import and export trade of the country are it
is well known, curtailng their credits in all quarters
which further for the leading articles of COM
merce ruling low.
As to grain, the appearances in England were never
more promising for abundant harvest and the high
prices Of the present year will have unusual
breadth Of wheat to be sown both and through
out the continent generally In the meantime II must
borne in mind that any uncertainty the weather
as harvest approaches would immediate alarm and
reaction from present rates to higher prices. What
such chance is worth is matter Of opinion in the
meanwhile IL is certain that barring casualties the ten
dency Of the grain market is towards lower prices.
The receipts at the Office Of the Assistant Treasurer Of
the United States for the port Of New York. Monday
April TO- s10s, 03l Is the payments amounted to
sl03 665 27eaving balance hand of S. PSI O2l g.
The Harrisburg Railroad Company has declared divi
dend from the profits Of the last six months, Of per
cent payable demand The business the road Of
this company very active and the receipts from
thousand 10 four thousand dollars per tn than
the corresponding months last year. and the business of
last year gave dividend the stock Of ten per cent
The excess Of receipts the year those Of last
il is believed, viii be at least s24 900.
The Michigan Southern and Northern Indian Railroad
Company are about 10 issue for the purpose Of aiding in
the completion Of the jackson Branch and the Toledo
and Goshen line, stock Of the Michigan Southern
and Northern Indiana Company to the amount Of % per
cent the present stock The stock to be issued at
par to the present stockholders both Of "oldn and
construction" stock The payments are on the 10th
Of May 25 per cent 10th Of June Is per cent and the
remainder the LIST Of July Interest TO be allowed
payments TO LIST of July when the stock becomes div
dend stock.
The bill 10 sell the main line OF the Pennsy State
railroad and canal from Philadelphia to Pittsburg for
not less than eleven millions Of dollars has passed the
Pennsylvania House of pelegates.