The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-09-13

Tor the sole benefit and security Of the holders Of the
said Albany Extenson bonds, which are now out
standing and unredeemed by the Harlem Company.
1t will be seen by the last report of the directors
70 the stockholders that 81 $50 900 OF these Albany
Extension bonds have been redeemed by the Har-
lem Company, by an issue Of common stock, and are
thereby cancelled by operation of law. 1t will be
necessary for the company to pay of the Albany
Extension bonds now outstanding, and obtain re-
conveyance OF that part of the road for either OF said
mortgages TO be made liens on it. When this is done
the mortgages will become liens on the entire road,
but not until ii is done they establish any claim
upon that portion OF the road known as the Albany
Extension
mortgage has been created over the entire line
of the Sunbury and Erie Railroad, binding all the
property, real and personal, possessed and to be
possessed by the company, and not to exceed six
millions. The mortgage restricts the bonds to be
issued under IT to 50 per cent on the capital prcv
ousy invested in the construction and equipment of
the road and to this fact the trustees are required
to certify. The loan Is convertible into stock for
term of fifteen years, and small sinking fund is
provided for to commence on the completion of the
entire road The features of this mortgage arc some
what peculiar especially the restriction upon the use
OF the bonds but it looks to US like very judicous
plan Of credit for unfinished road Forty miles of
this road are in USE and about an equal distance
can be completed next season. The Philadelphia
Ledger speaks encouragingly of the prospects OF
this long deferred enterprise, and Of the efforts Of
the President, ex-Gov. Bigler. We believe it was
Nicholas Biddle who first commended this scheme to
Philadelphia and had his sagacous views been
adopted, it would have been completed long since.
The Insurance Commissioners Of Massachusetts
have notified the agents of the Keystone Insurance
Company of Pennsylvania in Boston, to discontinue
taking risks in that city. The Boston TranscriDt
states that the of the injunction Is from the
fact that the commissioners are not satisfied with
the standing and condition of the Office and parti-
cuary with the nature Of the securities reported to
them as the law requires-hence their action in the
premises.
The Cumberland Miners Journal Of the 7th
inst. says
!, For the week ending Saturday Sept 1s Ss7I tons
Iron (ompany railroad from the Georges Creek region
The total amount from this region since the lst Of
January Is 153 55313 tons. From the Frosburg mines,
tons were shipped for the week ending the 1ss75 tons
OF this amount was sent by caua from this placcthe
mines, by The HamI shire Coal and Iron Companys rail-
road, via Piedmont, for the week ending sept. LIST,
1521 .16 we're despatched Total amount for the year
since the 1st Of January IL 3s TONS Tor the week
ending the lat OF September tho Cumberland Coal
and Iron Comlanys railroad 3,075 10 tons of coal
transported tons Of coal were sent by canal from
this place: the balance Oh tons by railroad. The
total amount from this region for the year the LIST
Of january Is us l3ll7 tons. Eight boats descended
the canal during the week ending Saturday last carry
ing 800 is tons Of coal.
The Boston Courier gives the following table,
showing the rate and amount Of dividends paid by
forty banks located in the vicinity of Boston, during
the three years ending with 1853 =
MAsaAcutsErns BANK DnIpgyps