The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-04-04
The warrants entered ct the Treasury Depart
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The warrants entered ct the Treasury Depart
msnt, Warrington, en- the slst Of March, were:-
For the redemption OF stock " $50 43
For PAIN Trsasury debts. 81 4ae Is
For tSs CUSTOM SS Soo 40
Fer paying in the War Department. 22,229 90
For For The Il: Es.S
For repayiDg for the Interior Department. GOT 80
The receipts of the Hudson River Railroad Com
Hauy were, for ESQ ,oo 90
March, 1857. ..:.............si7s'ao ~
Increase ACKNOWLEDGEMENTS. $3.50 rs
The steamship Atlantic, from this port for Liver
pool tomorrow, will take out large amount Of
specie It Is estimated that about one million and .
quarter Of dollars, principally in gold, will 90 for
ward. Quotations for sterling exchange continue
firm. Bills on London rule ct 81 10 per cent pre-
MUM.
The regular weekly auction sale OF Mr.. ]. Thomp-
son takes place at the Merchants Exchange to
morrow, wednesday, a. III O'Clock. The list
consists in part of Michigan, Virginia and North
Carolina State bonds.
At the second board the market was steady. There
was not much done in any stock, and no ons APP
psared to be pressing sales. TIE excitement OF the
morning board had subsidized.
The Harlem Railroad Company are in the market
for loan Of $750.000, for which second mortgage
bonds wiz be issued, bearing seven per cent interest,
with coupons attached, payable in February and
August, the principal reimburssble on the LIST Of
August 1864. The proceeds Of these bon Is will be
used, first, to extinguish the floating debt Of tbs
con pAny, az second, to complete the double track
to White Plains and erect some few station houses
required along the line Of the road. TIE Issue OF
bonds to pay off floating debt ia o wise and judi
cious measure. It is the intention Of the company
to close it's construction account at the close Of the
present yesr.
The agitation of the usury question, relative to
bonds issued by railroad companies in the diffsren.
States has created considerable excitement and ap
preherson on the other side of the Atlantic, and
nearly every letter in relation to that class Of sscu
rites alludss to the subject. We give below sn ex
tract from letter dated London, March Q. The
writer ia evidently alarmed
must now advert to very important subject; and
being ignorant Of the laws Of yoar country snsn be
cipal Of American railroad bonds is far greater
been announced by the Judges of the Superior
Court Of New York. In consequences, fear NO
gage bonds. If the principal of the bonds from any
be doubtful insecure 1t would be better to
change them other securities such danger
not exist On this point should value your opinion,
and which would influence me as to future course Of
action.
In consequence of tits feeling among European CAPT
talists railroad bonds have lately been much neglect
ed, and attention has been turned TO railroad
stocks II Is well known that II the plea Of usury
Ii put In successfully 70 avoid the payment OF bonds
TIL the stock in the repudiating company would be
much impr we'd in actusl, as well ss in market
value and purchases Of stocks have therefore been
more freely made since the question Of usury has
been agitated. The legislatures CT lhe different
States have made every effort to remove this objec
ton to the negotiation of railroad bonds, and We
have no doubt but that before the lapse of many
years such laws will be adopted as will prevent So
plea being pus in under any circumstances
There is power that protects holders Of rail-
road bonds full as strong as any legislative enact
meDt We allude to public opinion. That is the
best regulator, and must continue in full force 80
long as honor and honesty guide the actions Of
men. total repesl Of the nsury laws is out o.
the question for the present Representatives from
the rural districts cannot, or Will not, take
view Of the subject comprehensive enough to de.
stroy all those prejudicss against capitalists which
ignorance Of the laws Of trade is ap. 70 create We
cannot expect total repeal, and must therefore
labor for such notifications are imperaiively re-
quired. The Legislature should pass 10 prohibit.
ing the plea of usury being put in TO avoid the pay
ment Of railroad bonds, by any one in any shape
Railroad bonds should be made legal, no matter at
what rate of discount they may have been negotiat
ed, and Individual stockholders or any other party
interested in any way, should not be permitted to
faint the legality of the issue. It appears TO Us easy
enough to do tSis, and remove at once all doubt and
dstiust rega: ding the security Of the millions Of
dollars invested in these works Of internal improve
Ment. The rural members Of our Legislatures can
have NO objections to such an act. Lssve their
bonds and mortgages and all ether evidences OF L..
debtedness, under the government Of existing laws
If they please, but give us something clear snd con-
elusive relative to railroad bonds. We have no fear
Of reputation. There is not RAILROAD company In
the country the stockholders Of which dare raise the
plea Of usury to avoid the payment Of any class Of
indebtedness, and holders Of these securities neei
not give themselves any uneaainess on tina. score.
Il capnot be denied that in too many Of them usury
exists, and the laws now stand, ii could be
cessfully pleaded by stockholders; but nothing Of
that kind Is to be apprehended.
The annexed statement exhibits the vulue OF
certain articles, except foreign dry goods imported
into this district during tho week ending Friday,
March 80, 1885,
SchhkkCE OF IBE FORT or INV fORK-WEEKLY IMPORTS
| Value OF merchandise put on the market dur
ing the week 81 4B2 $50
Do. dry goods do. do ...... SIS 1913
Total %, $40, ass
The leading articles Of import during tie week
were as follows:Segars, $49, 264; coffee, $ll3,l40
nader, a,lso; hemp, $l29,6G3; brandy, 500 O47;
lead, $5s mclasses 500 1884, rags $3l al; tea,
s95,524; watches, $45 946; wines, $35, $50. The
import trade continues limited and as the season is
amos. over, cannot look for any increase at pre-
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