The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-05-29

We Ars little cIrious 70 the soy.hot ming annual
-epo TIE directors have got TO hglre pretty sharp to
dspose Of the groSs income Of Last year, as mo- TO
sho~, after psyrs expenses, dividends and al net
surplus the Il. Of Nsy 1885, Of hundrei tho.
sand cellars which with the net SURF lus Of Nay 1855,
1915 754) males aggregate Of million IN rouni
6guIss Our ca Gu ATOMS based octay returas show
sush results and shall carefully overhaul and Anayss
the eompsuys report when it to hsud strikes
mean TO pull him ont
The steamship Africa at thia port from Liverp pool
brrgs three days later nom Europe. The advices
do differ materially from those received by the Baltic.
Quotations for consols show advance Of - x per
cent. cotton Gnd eresds.ufs we're unchanged. The
London nc ney market rema ned the previously
reported better demand existed fo- American securi
ties at better prices The returns Of tbs Bank OF Eng
land lhow decrease In bullion, Of i2s o0o The arri-
walls Of gold from Australia had been large Consols
closed at 932 for cash, and Oh for account.
The House Of Representatives passed yesterday, by
vote OF rs to So, bill approprating about and
half million of publ, land in Michigan to ala ia
the construction of railroads In that State This makes
up aggregate Of about eight millions Of Of pa ,Hs
Land appropriated from government lands In the States
Of Michigan Iowa and Wisconsin to aid railroads IN these
States At this rate it viii not take long up all
the public lands and cut OF from the a,uAi settler de-
srabls lands al moderate prices. The shove grants Of
land foy railroad purposes nos only take about eight
million Of ont OF the market but double the cost
Of the government lands In their immediate vicinity,
ard cloie a the land Offices in each State for 1T least
yesr This last is the worst feature Of all For
year, and perhaps lorger, not Of public land
be purchased in those states By emgrans 1t any
price. The land Offices will be Aep closed until all the
lands granted to railroad companies selected and To-
Gated. It may 10 for ayear, and it may be two and
three and during that time emigrants Will be compelled
TO purchase Of spectators squa. Ianis, to
secure presumption rights. The Law granting lands
to rsiiroad companies gives alternate sections,
The government reseyirs alternate sechons, which
raised to the minimum price Of two dollars and
hall per acre, o. double the present price.
We do not complain Of this for the construction OF rail
reads through the public ancs open marks.s and of
increase the actual value, but actual settlers get
hold OF vey few tf these alternate sections without pay
ing high len and twelve dol per Specu-
ators connected with these railroads, knowing at the
sa-ts. moment what IAn.s alorg the line and
not selected by the company, manage, without much
difficulty, to &c. hold Of all thu good land the railroads do
not take AZ the governmen. price, and completely shut
out the actual settler who cannot ard to pay eight
and ten dollars per 1t is question whether such
grants Of land to sid in the construction Of
RAILROADS actusny accelerate the settlement OF the
country In opinion it does not to the extent anti
cips;ed. Railroads will, under the old system of
struc.cp be extended FAST the rel wants o! the
country require Population Eli not extend the cul
tvaton Of land increase fast as railroads can be
built. We find along the )iue o: some OF the most
recently constructed railroads In Illinois, Wis ,onsn
and Iowa very sparse population, and 1t will
be many years before the local busness Of them
sill be remuperatsve. The extension Of railroad three
hundred miles the State OF To- opens
A. rf NJ hufif ha
years before that land is covered with popuAton cApA
BILE OF furnishing business enough to pay anything to the
rai]rc&d stockholders II the stock Of these roads
manned for all time in the hands of those who received
the grants Of land all would be well enough in the way
Of proHts but the stock will change hands aad fall
into thcfe who must look to dividends the roads must
pr,ve productive, the investment proves failure.
Railroads must look to their local travel for profit and
It will be great many before roads stretched
Iowa command enough business Of that kind
to pay.
Companies had been organized surveys made and Ia
sene Instances contracts had been entered into TO- tho
construction Of railroads in Iowa long before these grants
Of land we're obtained and they would have bsen OK.
tended the State FAST If not faster than the
actual fetement Of the country required The railroad
system Of Iowa would have been developed rapidly
the wants OF the people required, by private and ndi
v,dual enterprise without the grants Of land just
m sde, ard without the withdrawal for one, two or
three years all the public lands In ths State from
ket There Is danger but that railroads will progress
fast enough. The Guilty heretofore has been in the
other extreme If Congress had let railroad companies
take CT themselves emgraats would not have been
deprived Of public lands at dollar and quarter per
acre. The poor would have been able to locate his
family st price per which, up to this time has been
the fixed price, and he would have enjoyed advantages
which many have before him. Now he stands no
chance, and must give way for those who submit to
the terms of the Spectator and the railroad
mCnopolies There Is far see, but real
benefit likely to lie derived from this wholesale punder of
the public domain, and that is the construction Of the
railroads in contemplation without flooding the market
with unecrred bonds If the lands viii build the roads
there win be only temporary Issue Of bonds and they
will he safe enough IL secured by the pie lge of lands
Fears have been entertained by holders of stock in rail-
roads Of Illinois terminating the bank Of the Mis-
ssspp river that these panies would lead their credit
TO lines beyond to aid in their construction pur
pose offormrg favorable connections These ani grants
remove all such approximations. Rar ,ai panes west
Of the Mississippi river have the to build their
reads, hut il 10 at the expense Of the emgrant and
actual settler. Although it relieves all the com psn,es
This side ard makes the Mississippi distinct dividing
line, doubt il the country at large will net be more
injured than benehtted by the Congress pur
sued in 6itposrg OF the public lands in su,h immense
siices.
The legislative report the savings banks Of this Stale
gives the following facts:-
sAvNGs BANKS OF THE STATE OF New YORK.
Amount OF deposits made in New York and
BrookIy in 1854 was..............sl3 ALL 53S %
Amount with drawn in 1884, wss....... H 1884, 051 6S
Decrease. 81 1922, 522 rs
mount Of deposits made in cities in
1855 was. ........................ 13,746 326 80
Amount withdrawn in 1856 was....... 13,140,9l6 45
Increase. $6O5, 400 81
Throughout. the whole State, amount of de.
posts made in 1885, ............... 10 I5a els 10
Amount withdrawn NEUTRALITY-SUSPICIOUS.. 18,217,50S "a
Increaie. $685., SOC 70
The oal number of those who have posts apeared
to re l762 and the average amount OF each deposor
ia $2l0 IL.
.....a~a4a rE l.. .I4 49,