The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-03-09

The Secretary Of the Treasury has renewed to the
LIT Of June next his bids foc redemption Of 81 1885,
5s5 Of che public debt, being the remainder not
taken of the bid for 81 900, 900, which expired by
limitation on the LIST instant. The terms offered
sle:-
premium on the stock of the loan authorized by the
Of July, 1885, redeemabo November L. 1885, Of "a
per cent stock OF the loan authorized by the
OF l842 redeenabe 31st December 1852 OF 10 cent
on the stock Of the authorized by the acts of 1s4
and 1S4S and redeemsbe the former the 3lst Decem
ber 1867 and the latter the 30th June 1868, of 10
per cent and the stock Of tho loan authorized by the
act of 1850 and redeerabe the 3lst OF December,
1894, Commonly called the Toxnn indemnity per
cent.
The interest the par of each certificate from the LIST
of January 1885, to the cate OF receipt aud settlement
at the Treasury with the allowance flor the money 10
reach the owner) Of one days interest III addition.
The rev free banking law Of Indiana makes the
State ves and two and halls, and California STATE
sevens, bass for the issue Of circulating notes.
In the monthly details of the receipts Of the
Reading Ra,lroed Company IS will be seen that the
business Of the year commenced in March, and as
the capacity Of the machinery was increased, the
maximum Of 81, 600 tons per week was reac 'ed in
August. In September, In conse luence of the
existing monetary difficulties, the operators at the
mines were forced 10 caTta. their shipments, and
prcyol Tomato decline in the receipts continued to
the clo.e of the season. Thi5 cartailment, after
recovering from the effects Of che fire in the begin
ning Of che seascn, actually cut down the recsipts
OF the company s26e, $50 o. which, as the capacity
of the machinery 10 nov equal to $4,000 tons per
week, with power TO increase IL to any demand,
we may at least, in ertma ing the business, add the
reduction 20 the receipts OF 1855. Then, a. the
result OF last years business In coal was 405 500
tots over the previous year. we may, all things
considered, safely put down the increase tor 1856
at $780, 900 sops. This amonns, ct 81 63h per ton,
would give s8l7 500, which, added to the loss from
the suspension, will give gross receipt from this
item Of coal Of 81 33l ss7 s3-consequently, the
estimate for 1856, without exsggerstion, is:-
From 2,4s7, s54 tons coal, ct 81 e34 per
Passengers, With 20 per cent increase 3a6, sal "a
Merchandise, rs per cent increase. 2y6, $50 81
United states mail ................ 14,2lS 90
Catawissa. nahoning and Daughin
and usguehsnp ah Railroads 49,. 400, 900 90
Crosse receipts. 12l III 30
The operating sxponses will not be much larger
than in 1854 notwithstanding the additional guam.
tty of cosls carri d. TIE oct income will therefore
be mucn larger.
The following decision II the Supreme Court In the
Gaze Of Bank against Edward, settles the question
in regard 10 The pee OF usury railroad bonds is
sued in this State -
As TO the usury. II il well established that this is
personal defence and cannot be up by stranger to
the original tranOacton. (Reseng agt. Weston Conn.
Alb lie Wolf agt. Johnacn, 10 Wheat. 800 The Chan
ceor, in Cole ag Savege DO Paige 5s3 attempted to
overture tina rule, upon the strength of the Revised
Statutes Il r. 72) end the statute of 1887. Cess L.
Of 1851 pege 49, section and to extend the defence
beyond the borrower" and his surees, heirs devsees
and personal representatives and confers 1t also upon
subsequent grantees of premises subject to usurious
mortgage But the Court for the Correction of Errors
in Post ag Bank OF utics, q Hill 39l overruled his
decion and under peculiar statutes confined
the defence TO those only who bound by the
original contract TO pay the borrowed (ivings-
ton Ggt Harris, IL WeDd., 1921
Also II 10 not competent for subsequent mortgagee
to up usury in the first lea That Ia personal
fence confined 10 the borrower his sur-tes heirs dev
and representatives. or TO those persons only who
are bound. by the original contract to pay the sum
borrowed.