New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-11-04

The failure Of the Allegheny Valley Railroad Com
pany to pay the interest due their bonds on the 81
of November Ia wing been rendered certain, the Com
ranv notified the authorities of Pittsburgh which Cor
poraon has largely invested in the work. \ meeting
of the Councils has been held at which the subject
was taken ioto consideration. committee was ap-
pointed to investigate the condition of the railway
company ard of the city finances From the report
of this committee we learn that act OF the Legsa-
ture forbds toe Corporation of Pittsburgh to increase
the city debt BY loans beyond the of 81 1000
and this limit had been already reached. BY the
terms of the city charter the Corporation restrained
from levying tax of more than five mills on the dollar,
and that being the amount Of the present city levy no
further tax can legally be laid When the burden Of
paving the interest the Steubenyie bonds fell
tie city the Legislature refused to grant the Coun
ellis authority to levy tax sufficient to meet it, and
the money was raised by pledging the gas stock
That resource has been exhausted, and there il
other to fall back upon. The ordinary revenue Of the
CITY derived from the five mill tax, ETC., is barely
sufficient to meet expenditures, and this year il will
fall short SO that the deficit will be about 900
The Councils lave resolved to apply to the Legis'a
ure for power to levy additional taxes to meet this de-
ciency A. regards the assets Of the railway corpora
ton, they as follows:
Engines, real est4'e Ac.....:.......... 1879
Armstrong Co and Jefferson Co. Boud........ $4,000
To;sl 800
During the eleven and half months that the road
has been in operation it, earnings have ben jij0j go
and its expenses :62 $40 of which latter sum jl5 II
was for actual running expenses. THERE'S mortgage
of $iCO GOO upon the road the interest of which is
SIS coo per annum The P,ns6urgk Journal says:
The City subscription 10 the work is 100 600 that
oft ba 4 =
ual Subscriptions am 'unt 70 but slilO paid while
contractors have taken IN payment OF estimates for
work. Sls3,&0'
An extra from the Office Of 7h0m DsOn', Bank Note
R,Jo,f,r gives the annexed description Of new
couricrf, which has appeared to-day in large quaint
ties:
Fi,es on tie Morris County Bank, Morristow.
N.J-Vig. Two femses seated, horse heed, shell
&c.-Female leaning on a figure on the right-back-
,mith on the let. Very dangerous imitation Of the
genuine.
The deuaRd for money continues very active on
call, with fair supply. Paper IS more plenty in the
discount houses being thrown out Of Bank and rates
are advancing. First class signatures are passed at
10dl2 T. cent. AZ Philadelphia the market IS tighten
ing and tie Banks reducing their loans. At Boston
Money has become scarcer and dearer within few
DAYS but a. vet there is no pressure In the earIy
part of last week the current street rate c discount for
first class paper was but per cent. On Frdayit adj
yanced to 81 and on Saturday to = cent. At New.
Orleans Money i easy at q cent and upward.
I'll, CndHRah TiBes of the 18th says there is
change in Money or Exchange markets, and sales re-
main IS last quoted. The demand for money Is but
moderae. and the prevailing feature of the market il
quttness. A movement is now progressing to estab
lish Branch Of the State Bank OF Ohio in this city,
with a capital Of 500 900. the amount apportioned
under the charter 70 this city. preliminary meeting
was held last evening at which was present Com
uittee from the Board of Control. The greater por
ton Of the stock was taken by some of our leading
business One psrty this morning offered TO take
ss0,OO0, which refused, the object Is to divide
the stock, by giving 100000 10 the citizens Of this
city and the remaining $500 900 TO stockholders of the
other Branches throughout the State. II il hoped in
this way unite the interest of the different Branches
and concentrate their business in the Cincinnati