New-York daily tribune., 1856-06-04

Totsl,...............se9 e9OsSs si0995C3 sg,69lf3i5
We understand that an agent of the State of Cali
forna left San Francisco by the last steamer for Pana
ma with the vouchers needed TO prove the War Debt
of that S.ate-an appropriation for the payment of
which passed Congress some time ago. The amount
is some $3.50 OOO and the payment has only been
waiting these vouchers. We have not yet heard Of
the arrival Of the agent here.
The arrangement recently made with the Long Dock
Company Of jersey City must prove of vast advant-
age to the New.York and Eric Railroad Company
and eventually greatly contribute to enhance the
value of the stock of the latter Company
The property purchased by the Long Dock Com
psny and leased to the New-York and Ee Railroad
Company, with the privilege of purchasing it At any
time at cost consists of 500 ots OF which 800
are Immediately on the river--gving water front Of
| about IL 100 feet Vessels drawing 20 feet water will
be able TO load at the wharves OF the Company, and
tie produce brought the road will he transferred
from the cars directly into vessels lighters at the
| whaIves, or into warehouses which will undoubtedly
be erected in the immediate vicinity by tae heavy pro-
| duce houses. The can be made to run into the
private warehouses, that produce OF every descrp
tion can then be warehOused in as perfect condition in
stormy as in fair weather To owners Of produce this
will offer the great advantage OF receiving it in better
condition. as well more promptly and at far less
expelse than when il is discharged on the wharves in
tbs ctv, while to the Company it will be equivalent
to considerable increase Of freight cars, since the
possibility Of discharging them in all weathers will
able tie cars to be promptly returned. These advant
ages must greatly increase the traffic over the New
York and Erie Railroad, as soon a. the Company can
! avail. itself of these facilities.
The terms of the arrangement are also exceedingly
| favorable to the New.Yok and Erie Railroad Com.
papy, and yet perfectly satisfactory TO the stock
holders Of the Long Dock Comlauy, who gulran.
teed by the terms Of the lease net incO of 10 per
| cent per aunum ON their capital stock Could the
| York and Ere Railroad Company have pur-
chased this valuable property at the low price a.
| which il was obtained by the Long Dock Company
in exchange for New York and Enc stock a, par now
selling at about ST., it would have been considered
mos, advantageous negotiation; and yet, in reality
Ills propsIty has been secuted TO The Newlork and
Er. Railroad on terms still more advant geous; for
as there is every probability that lie NesYosk AMI
| Erie Railroad Company vii resume paying cash
dividends in 1851 and that the dividends viii never
thereafter be less than six per cent per anuum while
the s king fund secures stock dividends u fully per
con, ner appum. had the New York and Erie Railroad
COMPANY issued shares in payment Of this property
Ia, Comrany would hereafter have TO pay these diyi
d. Ids of II per cenI Per "-A"H 'u '' AtH s4res as
well AS on the old; whereas by the preeut arrange
uent. the Company only pays 10 per cent on tie
$500 Geo until such tine this amount can be On
tanned az a lower rate Of interest.
H.. l.ase TO the New.York and Er.e Railroad Com.
pany fu,h-r provides that all expenditures beyond
ibe $500 coo capital Of the Long Dock Company. re.
ori,.d 20 complete the depo, vhaIyes, tunnel and
rava, counectiog the whaIyos with the Present track
Of the Eie Railroad Company, are 10 be provided for
by the issue Of bonds lred by mortgage on the en-
tire property Of The Long Dock Company, AID for
these furtler expenditures the New York and E-ie
Rsllrosd Company only pay the amount rqufed TO
NIT the interest on the bonds issued. Til. lsase
also stipuates that the LonS D)ek Company
shall Whenever required by tie New York and Er;e
Railroad Company, sell such portion Of the ioJ lot,
of land as the latter Company may find they d. not
REQUIRE for their own accommods'ion--he proceed, NJ
such sses TO be applied to sinking fund of the re-
deptti6n OF all h Jnds issled by the Long Deck Com
rapv There can be no doabt that tie Of 800 lots
s,t.r the compl,on OF the whsrves tdnnel ard rail.
way. will form an ample sinking fund to raiee all
the Bonds which may be issued; aud thus the New
York ard Erie Railroad Company WI eventually
seoure 2OcO lots Of land, the Eharves, the tunnel
ard the railway, with no o:Der addition % iis con.
strgctor account than the $500 900 amount . be paid
70 the Lorc Dock Company for the fee simple of the
,uLre pcopc-ty.
The lease Of tie Long Dock Company 10 Zoe New
York and EIie Railroad Company also !ae!udss tie