New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-04-05

F''i' T.. nm ANt'NciL " ~
Number OF miles 31sl.STs 1854 ,57f
No. Of tup. of freight card mile. 15s7s,sN s9Sr5ys9s
No. Of pssseDEeIscsIred mile "a fos.S os 1902 Sal
Totsi earnings, so5sssS ssS55Si ~
Length Of road oper,ted-1nue.. 7s s6e.os
Earnings Per mile run........... l7j Us
Expenres per mile run. Sq Sg
Esinihs' per nils Of road s14is s7ss g
h1penses per mile q road: ss.s y Ssl, %
Net earnings per nile Of roae.... SS52 10 1908 10
The foreign news is favorable, financially. Consols
higher some per cent, and the fact that the
Bank Of England has reduced her rates of interest
20 day bills to per cent, is significant ono, as
indicating the approach Of an easier money market.
The PRONUNCIATION Of the news had very favorable
effect upon the Stock Market.
The Isle Royale Mining Company held their annual
meeting some days since. The Company have ample
funds on hand for carrying on business to June l,
when il estimated that amount of from 100 10 100
tuns of copper will be at the mine ready for shipment,
giving the Company about $4,000 ahead Of all ex-
penses to begin the year with. Tho yield of this mine
has been go tuns for the past year. and the President
estimates that product Of 300 tuns p annum, which
appears to be quite probable, will give very fair
dividend OIL the stock The old Board Of Directors
were rechosen and the shareholders appear quite well
satised with the present condition and prospects of
the mine.
A circular has been addressed by the Hon. Jas.
Hamilton to the creditors of Texas in which he pro-
poses to hold convention in Washington the first
Monday Of May, to consider propositions TO be submit
ted to the Legislature Of Texas by which he hopes
10 recover eventually from the State the difference be-
tween the par of the claims against the State and the
seventy FIVE seventy six cents on the dollar to be
recovered from the Federal Government. His propo-
sitions
Fir.s: That after receiving in person 20 y cent on
our respective securities IN cash at the Treasury Of
the United States should authorize the Secretary
of the asury TO hold in deposit in the Treasury Of
the United States 90 y cent of 70 y cent of the pro
rata provided by the oct of Congress on the following
conditions and trusts, TO wit that the said 20
cert should be transferred to the Controller OF Texas
to be deposited in the Treasury of Texas, provided
the State Of Texas should agree to Issue land scrip
at FL per acre for the principal at par and interest
IN to the date of payment, on the original &C.
curi,ies issued by the late Republic Of Texas which
we deposited with the Controller at Austin in ex-
change for the audited certificates Issued under the
authority oftbe State Of Texas, which we now hold
Second: That this &c y cent should be subject to
the following investment That each creditor should
have the igbt to instruct the Controller of Texas to
nvet his share of the said &c y cent in some one OF
the Incorporated railroads to be constructed within the
limits of the State Of Texas.
Third: That the option Of selecting in what Rail
road his subscrJtion shall be made, shall reside with
the creditor, without impeachment and be exclusively
under his control.
FourtA: The 20 y cent thus deposited in the Treas
uy of Texss, shall be on the responsibility OF the
State which shall continue until all the instalmens OF
tie subscription s s9as e eas@ ssSSs ce
Gates Of stock to which he may be entitled.
FffA: That each creditor should enter into writ
ten agreement with the Secretary of the Treasury OF
the United States that his portion of the said 20
cent shall remain in the Treasury of the United States
until the lst of November next, by which period,
if the Legislature of Texas should not assent to the
compact herein provided for the said &c T. cent are to
revert 10 the creditors, and DO absolutely and entirely
under tn, control and subject to their order
This scheme Of settlement is recommended by the
following considerations, Of value both to Texas and
her creditors: -
some one OF all Of her lines of railroad which are or
may be in the course of construction which would in-
sure tAtr mmt dat. and successful competitor ms
fund under the enlightened control of individual sell
interest, would insure it, most benehcla investment
by the selection of some road roads most likely to
be d;yidend-paying stock, which in this selection
Texas might he assured its interest would be identical
with those al its creditor as the railroad most nAoy 10
prove profitable TO him by Its carry construction
would De most beneficial 10 her. No opinion can be
more radically unsound than that railroads IN Texas
v III not pay. They destined to yield higher
profit than the railroads of any state in the Union Tor
there are neither navigabe streams, turnpkes, mac
adamized or penkroads enter into competition with
thtm To the State Of Texas the expenditure OF the
two millions would be worth ten millions after the
completion Of roads, and fifty millions IN twenty years
The land which, il Is suggested, Texas Il IL appo
prate TO pay the entire balance of principal and inter
.t due on Der whole debt would be an absolute bene-
fit 10 her tax paying, industrious settler is worth
more 10 the State than lection Of land, whom the en-
ightened sefnterest of creditor would place there
in the shortest possible time Beeide Whist to State
ckerishing not alone a jealous regard for her own
reputation but wise OF her own interests,
would place wild unsettled lands in comparison with
solid or. dit and sterling honor But the most valuable
consideration of all i'll this scheme OF settlement re-
mains yet TO be discussed 1t will clear the skirts OF
the public repute of the State of all stain of rePoda-
l.lE ga Ia Aaht
Treasury of the United States, even after You have
received your respective payments, her pubic credit
| viii be unrcdeemed She viii have parted with tun
money! but not have got all ounce of character IN
| exchange.
| To yourselves gentlemen, this project of supple
meptaIy settlement Is of incalculable value you will
vet p,ne,ly domain the head waters of the Brazos
and Colorado, which IL now open TO location, compsr
atively worthless Texas, which the COmauche
the panther and wolf roam in undispued sovereignty
which in ten years will be worth to you not only the
twenty six per cent. you concede for them but treble
| the whole amount Of the debt, scaled and unscaed
| which Texas originally owed YOU. Beside you wi be
entitled 10 Your share OF sixteen sections OF land In
common with other stockholders in the stock OF the
| company in which your subscription may be made,
which Texas has conceded for every mile 0, railroad
constructed within her limits, which will venture to
assert WILL in the end, be worth three times the value
| Of the stock.
| The earnings of the Delaware, Lackawsnna and
Western Railroad fer the year 1885 were a. follows;
FtS ~
freight SSss OK
so,ss. NEUTRALITY-SUSPICIOUS.. IL 81
SSoisso ...................... 7ls %
neitr' -. v, -; 10 Railroad ..., s9s 81