New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-11-28


the Arcade Bank is not than fourth what it
has been represented We glad also TO learn that
there attempt TO escape. The implicated party
pledged ali he possessed to indemnify his bondsmsn,
and left v it'll their consent.
ORLEANS Crescent Of the Goth inst. Gays that
money is in gre a. abund ance in that city. Five months
Laper sold at y cent, and twelve months second
class paper at 10 cent These rates are lower than
those which prevail in New.York. The same paper
states that nearly 200 600 bales of cotton held for
higher prices until III cents be obtained for mid
dlinss Exchange is cent discount for sight, and
6Oday bills 2iG2i y cent discount. Foreign bills
were firmer. Sterling, 7sdSl. Francs, 5.3Oa5.2si.
The Director of the Mint of the United States has
s,ued the following official notice:
MIsr OF THE UNITED STATES,
PHILADELPHIA, Nov. %, 1856. !
The Director of the Mint gives notice, In pursuance
Of an authorization Of the Secretary OF the treasury
that from and after the LIST day of December silver
bullion for coinage win be purchased by the Treasurer
Of the Assay Office at Ne~-York on toe same terms az
such bullion is purchased at the Mint of the United
States at lpha-namey, at the rate of one
dollar twenty and half cents per standard ounce
The silver offered for purchase will be weighed,
melted and assayed usual, and the standard weight
dee mined beiefrom in ounces troy to the hundreth
part of the ounce and will be paid for in oliver coins OF
the new Is ues.
The receipt given at the first weighing must be pre-
seDted by the Teller or his order and usually payment
receipt or the secopd day following in case the Assay
Office has sufficient supply of silver coins on hand;
if not the time for payment may be indicated by the
JAMES ROSS sNOwDEN, Director U. s. Mint.
Two cargOes of iron have just arrived at Milwaukee
for the Milwaukee and Mississippi Railroad Company.
This is all that is required to complete their road 10 the
Mississippi X yer at Prairie du Chen. The road is
row ironed to within Is miles of that point. les COM
pleon to Prairie du Chen will add largely to its BUSH
nes especially when the Spring business opens, as
that will then be- until the La Crosse Road is CON-
pleted the fret point at which passengers and freight
going East can leave the river.
The Circular of the La Crosse and Milwaukee Rail-
road Company TO the stockholders, to which we al.
luded yesterday, opens with xpl.naton Of the
causes which rendered it necessary for the Company
TO consolidate with the Watt rOwn Company. 1t has
been the established policy Of the Company, while
t. king proper to induce other parties to build
branch roada to take part in such enterprises itself;
and this. the Circular states will continue to be its
policy but the Watertown Road being formidable
competitor for the valuable land grant given to Wis
coDsin to aid in the construction of road from Msd-
FOL TO St. Croix and Lake Superior, it was deemed
best to consolidate the influence Of both roads upon
the one point Of securing this valuable grant. Inc
Watertown Road was accordingly purchased and con-
sodated on equal terms, rating stock tor stock equal
y share; but with this difference however, that the
stock of the WATERFOWL Road cannot become stock Of
the La Crosse Company under one year from the date
of consolidation The La Crosse Company assumes
the debts and liabilities of the Watertown Company
the ore ater part Of which have been paid and means
provided to discharge the remainder 10 sh ort tue
and it receives it's property, rights powers, privileges
and frsncbses thereby absorbing the Corporation as
SUCH which has been formally dissolved by the resig
nation of lis Directors and officers, ali Of which pro-
edpgs have been subseq uenty ratified and approved
| by an act Of the Legislature.
The application Of the Company to the Legislature
succeeded and the land grant was secured giving
$50 acres most Of it the best land in Wisconsin, for
each nile of road built. This land, the Company are
confident will sell for than enough to psy for the
whole road. Two lines are being surveyed for the
new road. from Madison TO st. Croix one which will
be about 256 miles loOg, and the other about 2oS
miles, Selecting the shorter line, the lands awarded
by the grant would be 1888 O40 The other line
would give 029, 100 acres The distribution of the
lands would be about as follows:
1000 acres embracing village sites, valuable water mn ~
mines, kc. Si06 Slivpvu
aop go acres 6rstcsss farming land the line,
with smaller water powers and other privileges mn 400
SOC coo acres farming lands, &C., further from the
$3.50 .eIs! farming land: a. still greater
road 'SvVv
2s Oeo rferior lands, IS per oi0o
ro,., eIs6l5 900
The cost of the road is estimated at $D0OO per
mile including everything, which gives the aggregate
cost of the whole road at $40 go OO0 leaving sur
plus of g co., should the lands produce the above
results The above cost includes not only the land
grant road from Madison to s. Crox but also the con-
nuston OF the original road from Portage City to La
Crosse.
The distance from Portage TO La Crosse on The Mis-
sissjppi River is lOl miles, but the route of 50 miles
will be in common with the land grant road, leaving
but 65 miles Of the La Crosse Road to build. OF tie
above $40 go 900 necessary to complete these roads,
is proposed to raise ss 600 by issue of bonds
and the remainder by the stock of the
Company The security of the =, 100000 bonds vii
BE- In the Lands. '*iHoSVo
Expended on the Roads ..'..''. ''''''.'.. W'<"N"
TotA....................... MINIMUM. sSS4oOoo
or three tim. the amount OF the ISSUE The lands are
TO be morgaged for the security of the bonds and saes
made for the purpose of forming sinking fund for their
redemption, the prvceeds o: the land sales to be
inv. st.d in the bouds long rs they can be
| pufcbssed at or under one hundred aud ten Per
ce.t. For the parp,se OF carrying out these mea-
sures three Trustees, who will commsni the
confidence Of the public, are to be appointed
TIE region Of land through which The road will run n
Of superior quality generally, for agricultural pur