The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-11-29

Tho receipts 70 day include $50 600 the PhiIade
phiaImnt, and $40 600 for transfer dra Chicago.
selegraphc despatch Of the 9th November
tn completion Of the Great Western Railroad Of
llinos-ls4 mi!ee-snd its connection with the Toledo
and Wabash road. Regular passenger trains will run
from Toledo Naples-a23 mies-on Monday the lst Of
December. This will open ana fAvorite line Of d.
rect communication bet ween st. Louis and New York.
The Judge Of the Fifth judicial district OF this hiss
decided that the subscriptions by municipal corporations
for stocks OF any kind and tho ssung bonds the
payment thereof unconsttu iona void; and fur
ther, that such action 10 exercise Of power nd
vduai property which the State itesf possess
and which the Legislature therefore, delegate
municipal corporations The decision has yet to be acted
upon by the Court Of Appeals, and confirmed by It. II
win be serious matter to tho holders OF city and town
bonds which Issued In this State for railroad
purposes
The report just sued by the Ia Crosse Milwaukee
Railroad Company has attracted good deal OF attention
In financial circles. The OF the Illinois Central
Railroad land scheme has opened the eyes capitalists
both sides the Atlantic the importance and great
producveness Of this source Of revenue; and have
doubt all the the Ia Crosse Milwaukee Com
pany may require to carry Out in grand system Of
works. in contemplation, Of the sale Of it's vast domain
win be forthcoming upon terms more favorable
than those realized by by the Illinois Company wiscon-
sin possesses attractions ID cmgrant superior
Of any oher Western State. Is soil is adapted
the growth OF the great staple Of the West-whea-hAn
any other and s climate admirably calculated for the
most fruitful productions OF all grains and vegetables
eevrything maturity Ut proper wscon-
sin OF the best watered States in the Union for
nshing facilities for steamboat navigation through
terror and power for manufacturing purposes upon
most extensive scale. The progress Of hs railroad
system has thus far been In proportion To the actual
tnOft Tho Oalv Il
were new lines extended. Tho southern section Of Tbs
State u pretty well supplied with roads, ard they
all doing very profitable business. The Milwaukee
and hissssppi road viii be completed the Mssis
sippi river road 10 stretching west from Racine and
one from Kcnoeha. Two three roads from Chicago
have already penetrated the lower range OF counties
Wisconsin, and win, doubtless continue towards the
centre OF the State The Ia Crosse and Milwaukee
nearly due west from Milwaukee, and will touch the Mis-
sisspp river point above all Others thus secure
the Ade Of tho upper par Of that stream Its
the State direct that every constructed
above must become important feeder. Every road
north ond west must with the Crosse and We
know Of no road In the west holding such important
position having such immense territory tributary
70 H. this The following extrac, from the report OF
La Crosse aud Milwaukee Railroad Company gives Q
pretty good idea OF the basis upon which its finances
rests ard the bass for future operations
Inc eece OF this grant OF land the interests o
company, and upon future policy subject OF great
moment and demands the most careful attention Hth
erto relying the subscribers IN stock aud upon
the morsAged land credit OF the farmers our state
geiher With tho usual credits made upon the road ITSELF
have nd steadily and successfully In the pro.
secution Of our plan and have far accomplished AZ
TO have now In operation important section road
which making the most ample returns for the amount
expended In s construction. THIS section OF the road
extends from Milwaukee TO Beaver Dam, . distance or
sixty miles, nearly third Of The whole dancato
the Assssipp and the returns from this part tho road
have consc eraby exceeded estmstes and In fact
have been greater than be shown In tho history of
any railroad In America, Of tho distance and nrst
year Of lis operation.
BY reference last annual report IN. estimate OF
gross receipts ct down $500 600 for the present
year; and nj income would enable the company
dividend to the amount OF Is per tho paid
In. Bot nstead " making dividend for the nrst half
year, the interest account kept opoa until the LIST
july and interest dividend OF 10 per for
ending that day, paid 10 stock had been previously
done under regulations for the payment Of interest
stock the unfinished divisions Of the road The earn.
ings for the credited contraction &C
count, 10 which the intercs, paid was chargesble.
From the let Of July the earnings have bean accredited
10 operating account and the receipts amer that
time (ess the expenses Of operang) will constitute
amount TO be divided 10 the holders Of stock Of
January next
The earnings nor ten months up the Is, oribe present
month a folloys.-