New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-04-01

Cal. Br. Mint Ban $2,Sol..... SNSoo
Fe eD.1' COM 60 '..... .2c@
For,Ssr NEUTRALITY-SUSPICIOUS.. no W
United States Bullion lcoutsiaed in
Cody. .................'..'..''. "'""
Tots Depo,i. pay.b. in Bars. 79Iooooo
Total DEPOSITS payable Coins. 100000 90 si go %
90 q Rers stamped. ................ l9Ji.Qi -
Transmitted Is u :. Mint, Phus-
eeiphia Tor Coinage. s'o,ltS ~
The Boston Clearing House went into operation On
Saturday last u5der the direction of Henry T. Groves
es1. nate one Of the Bank Commissioners of the
S;ate az manager. The institution il located on the
corner of State and kby streets two banks, the
New England Bank on the first and the Bank of North
America on the second floor of the building. The
rooms are conveniently fitted up and well adapted
for the purpose. The association at present nuR
Der. 20 banks. The Suffolk Globe and National
Banks have not yet united with the association
Or saturday tbs exchanges amounted B y
And III. balances oo'' I,
The exchanges were made in about ten minutes and
the proof asccra;ned in hour and half the settle
NE Mt of the balances occupied half hour The sys
t. worked WELL and doubt not that after brief
experience of the advantages resulting from this
method Of exchanging and settling, that the Boston
Clearing House will prove as useiu TO the Boston
Banks as our Clearing House has to the Banks OF this
city
The interest maturing the lst of April on the
bonds of the Cleveland and Toledo Railroads.&c. on
the Bonds of the Junction (Obio, Railrosd-wi be
paid at the office Of the Cleveland and Toledo Rail
road Company No. ls William street.
Nessrs Du1can Sherman & Co. will pay the
COUPONS on the following securities due April l, viz:
Buffalo and Rochester Railroad Bonds, Sacramento
City 10 ? cent Second Mortgage Chicago and Aurora
Railroad, Central Military Tract Railroad y cent
Convertible Bonds.
Messrs Atwood & Co.. No. Wall street. will pay
scinannual interest on Bonds of the Cincinnati, VIII
mipgton ard GAINESVILLE Railroad, due LIST April
Meesrs. Winslow, Lauier s. Co, in addition 10 pay
ments before mentioned, will pay interest due on IL
Of April on the Second Mortgage Bonds of the Ohio
and Indiana Railroad Company.
We annex the highly satisfactory report of The Pres
iGcnt Of the Erie Railruad, which wass received last
right too late for publication This report sas favor
ably received in the street. although the previous i'm
preston had been that its statements would have an
Injurious effect upon the stock. II is plain and hon
Get statement of the condition Of the road and proves
that it is dividend earning road and that ~ market
ysuc should approximate considerably to some Of the
rnlroad stocks which selling at much higher prices.
The accom- anying report Of NJ. Superintendent Nc
Coum fully sustairs the reputation Of that gentleman
ss one of the most able superintendent in the country
II j. an essay rather than report, and should be are
fully studied by all railroad managers and superntend
,ns. We shall give extract, from it hereafter
The report in pamphlet shape whl not BE- ready for
distribution before the latter part % the week.
PRESIDENTS REPORT.
In presenting 40 the stockholders OF the New York
and Erie Railroad Company the annexed detailed state
ment of the present condition Of their important, and,
to the City Of New-York, invaluable property, can
Lot refrain from coDgraulating them on the greatly
iniproye ed condition Of the Company affairs
During TIM year 1854 the road was burdened with
heavy floating debt, which was incurred in the con-
stucton of the second track and for increased equip
mont. and only with great difficulty and at great
sacrifices the necessary means obtained to meet
It's daily maturing liabilities.
Ey tho aid Of the individual credit Of the directors
LaL sufficient 10 meet the interest and other debts
PAYABLE in August, was effected; bu. on the lat OF
Serttmber the semi-aOnua ntereet nearly $40, OCO
900 fell due. This, with the general distrus atendaas
upon the bankruptcies and frauds OF that season, the
almost universal ds9edit OF railroad securities, tho
agaied and stringent state u the money market, the
want of confidence in the future, and the maturing Of
So 65l coo of lie funded debt within FIVE mont there
aAsr brought crisis IN the affairs Of the Company
which compelled temporary resort 10 the credit OF
two gentlemen Of Il is city, Of knOwledged wealth TO
save the Company from dishonOr. The measure, al
though il wa regarded at the time by many as doubt
full through the hbcrthty Of some OF our leading city
banks proved successful.
The negotiation Of new loan then regarded
By many intelligent capitalists If not by all, mpos-
sible except at unous rates but ganizng the
Board after the annual election OF Directors IN OctO-
Der, the loan Of 100000 was resolved upon and
obtained.
To-day the -anifie made by the Company to meet
PROMPTLY at maturity al is engagements have been
wholly repaid The credit of the Company IS entirely
re,eabished all The ndorred acceptaDces have been
paid, and the two chatte mortgages satisfied and dis
charged Of record; while the Loan, negotiated by
the unwearied gTouioGs exsrti)ns OF toe Direction.
and the generous aid and confidence Of orr own and
foreign capitalists Ind merch9nt., enabled the Com
peny to pay at maturity the entire Daence Oh Tue ~
cone bonds, end to reduce the fosc-rg debt To- an
amount 20 moderate that al! further sscEirces nave
become uBneceseaTy.
The rate n, which he new loan NJ gptiated was
undoubtedly ow. ftb' -ecurityi on"r' D. zone taken
into cop,jdrati but undcr the then visiting crcum
apces and in proportion 10 the rates al which other
urau.stioDed securities selling i fully B. high
a. could Leve been expected. The large sinking fund
established by this Company although a. present, pre-
venting each dividends TO the stockholders, notwth.
standing they are earned mas been generally considered
rnost judciousso much that many other c1mpanies
that have since offered new loans have established
snking fund.- absorbeDts OF their funded debts.
am confident that more prDt,ao!e use cannot be
made at present of G. portion Of the eamings Of the
Company. The sinking fund, by rs rapid absorption
of the debt. NUT gradually enhance the market value
OF the shares a. well fayoraby affect the future
pewal of the loans they NATURE beside which TO the
perInaus ut shareholder acts simply rs loan to him
self TO be returned al early period ia stock diyi
dends.
In consequence Of the commercial crisis and the
failure OF the cereal crops IN lSi, By which the pae-
GER and fieigbt traffic Of the road greatly re-
dueed while undue competition forced reduction IN
the rates charged the through business in about the
proportion the gross earnings Of the fiscal year
have been greatly under the estimate of the Direc-
os, and JET the net income, after Peyins interest on