New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-08-05

me CShtsH. ns nd London steanhos, Company
Of ss. Y and OF the saa1.a
~ Of Welcome Fsrsms note for $1,000 ,seu'ed BY one hun.
rpany is, and had BY the Controller
the State OF Connecticut but not Issued sUJ ct
ssa The .@oSnt Of dividend scrip Of Jolly 1855 and July
,~S.S mS the IL interest esn Jane 1857 amounting
is by Of the Board redeemsble in the Bonds OF
te Ss% eaD Sny % as4 and @ Which
% @ :;,s q for tn: r5"
redemption.
The coupons on the Let Mortgage Bonds of the To-
ledo. Wabash and Western Railroad Company, due
let August, were not paid, aud the Company have
Issued circular to the bondhoders in relation to the
proposed scheme for relieving the road The circular
says:
The Indebtedness of the Company known as the
Floating Debt has principally been incurred in the
construction and equipment OF the road, whereby the
value Of Il property plea ed security for the pay
mept If the Bonds Of the Company has been gr.say
.Lbanoed. large majority of the holders OF this
debt are residents Of the towns along the line Of the
railroad whore good will toward the road it il always
desirable to secure and undoubtedly the future sue.
Of the road, under whatf yer or own
ersbip will greatly depend upon the smicabe adjust.
mcnt If this Indebtedness or at least the p0sponenent
of the foreclosure of any Of the mortgages until the
insuffciebcy Of the revenue OF the Company to dis
charge wholly or in part the Floating Dto IN add
ton to the interest on the Bonds shall be demon
strated.
The diminished receipts of nearly all Western Rail-
ads during the past year clearly indicate that the
business of this road since its opening hs been much
less than can reasonably be expected during season
Of ordinary prosperity or series OF years The earn.
ipgs must be largely Increased by au abundant harvest
this Fall, and the completion next year 81 tne Kali
roads from Naples to Quincy, the Mississippi con-
Iecting with The Hannibal and st. joseph Railroad,
and from Logansport through Peoria to Oquawka.
The prppos. plan cobtenplates the postp9nement
for six months 81 the payment Of the First Mortgage
Coupons due this day aud permits the earnings of the
road TO be applied as follows:
Until November l. 1851 40 per cent to the Second
Mortgage Coupons, and 90 per cent to the Floating
Debt.
From November l. 1857, to February l, 1853, IS
per cent to Second Mortgage Coupons, aud 20 per cent
L. the Floati Debt.
cert to the First Mortgage Coupons, per cen! to the
Second Mortgage Coupons and 30 per cent to the
Floating Debt.
The Directors feel confident that $50 600 per month
is low estimate Of the receipts OF the road, from the
first Of August for the ensuing year..
Tbs beides paying the cost Of operating the road,
ard IS, GOO per month for construction, would leave
balance at least equal TO the interest on = 400 GEO.
The amount of the First and Second Mortgage Bonds.
From $5, Coo to 10000 have heretofore been pail
monthly ont of the earnings eke road for permanent
Improvements, chiefly for graveIliDg, fencing and
store houses.
A Committee of the Directors of the Cumberland
Goal Company appointed TO proceed 20 the mines and
examine the Comp.nys properly, have made report
sgred by ID NJ. Hugbee, VIM. Cotheal and W.
Iinman The report after speakiog of the great value
of the property at Baltimore and Cumberland, and Of
the Eckhart Railroad and branches belonging TO the
Company says:
We deem it almost peedless to inform you that the
Company has an inexhsus,ible supply OF coal, aud Is
row in possession of ii 900 acres OF land more than
| half Of which is underlaid with the great vein Of
| cosl Nearly all the land is Of good farming char
acter and at very reasonable estimate, worth $50
acre, Independent Of the coal There are number OF
farm bous,s and barns upon the property, which, to-
revenue to the Company Of about 5000 snnum.
The westerly portion Of these lands viii De maze &C.
cessble this year. by the extension OF the Cumberland
and PspD'ylvania Railroad, and the Comuit.,e woaa
brought into market by the extension OF this rosd
| The principal mining is now done a. the Eckhan
and Slope Mines. With capacity " yleIo Ab0ut wv