New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-08-18
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That the expenditures Of the Long Deck Company
arr iudcious and 10 prove profitable to the New
York and Erie Railroad Company, no one can doug
who will examine the subject. The New York ann
Erie Railroad Company have lease win me rlshI
10 purchase at the original cost at any time after Six
ycars of the entire property of the Long Dock Com
pany consisting OF 800 lots OF ground exclusive
Of the streets opened 10 be opened, with Terry PRIV
THE wharves will offer 7lO linear feet OF berth ROOM
Vessels drawing 10 feet OF weter VIII receive tne
heavy products of the West directly from the cars or
from warehouses into which the cars will run and be
unoaded in any weather, without danger OF INJURY 20
property The facilities and economy which this Will
offer to shippers and receivers must largely increase
the traffic of the Newlork and Erie Railroad Com
pany and enable it to charge higher rates for trans
portation than those charged by other routes. The
ier1es will undoubtedly prove source OF revenue
To the Company, whereas, at present the terrage or
passengers and merchandise IS a neaVy TAX on the
Company.
ANY portion of the 800 lots not needed by the New
York and Erie Railroad Company can be -Old at any
tme and by the terms OF the lease the proceeds must
be applied TO the extinguhment to the creation of
Sinking Fund for the extingushment OF the debt M
cured for the impro Of the Long Dock proper
tv. The yalne of this property must be very great
whenever the New-York and Erie Company transfer
N''' "''''' NV CHARLEs MoRAN President.
NATHANIEL M.hsHa, Secretary.
Neuo- York, l7th August, 1851
The increase of capital since September, 1886, was
cdureu W LILO ~ 'NN ANSJ
Fund stock dividend.
Wheat from Southern Illinois is making its way to
Chicago by the Illinois Central-from 20 to 80 car
loads daily last week, and on Saturday Y carloads,
about % 600 bushels The earnings of the Illinois
Central Road for the first six months of this year
81 06s OlO g. against 1872 32S 60 for corresponding
months of last year. Cash received from Land De-
partment applicable to Interest Fund for first six
An, DNS n m ar inst
s3l6 900 Of Bonds Cancelled. The land sales in
the aggregate exceed 81, 100000 to the LIST Of Au
gust the figures were $l3 93 ,3i3 A. and 900
worth have been sold this month With the enor-
nous crop of wheat, which all parties concur in es-
tmsing as the largest ever known this road lkeiy
to have a large local bu.ness this Autumn yet
against these figures, with only two or three thou-
sand shares Of stock in the street. there are sellers of
the stock st 4e5 T. cent less than the rates OF last
week. The contest is mainly between bull and bear,
s the number Of shares in the street has not varied
Init a few hundred shares at any time for several
months.
The Pittsburgh, Fort Wayne and Chicago Railroad
Company have lately negotiated IN London, through
their fnar cial agents Messrs Robert Benson Il Co.,
about 500 600 in amount of the Construction Mort
gage Bonds of the Company, now on the market This
NEGOTIATION fOr casD, tue NouiPonJ
apces of further sales at an early day They have
also purchased in London through the same agents,
> 600 tuns of rails which on the way destined
for the track Of the road between Plymouth and CHI
c.po. In the prevailing want CT confidence, both at
home and abroad in regard to our railroad property
and securities, it is gratifying to notice that the de-
mand for substantial railroad bonds has not entirely
eeased amopg foreign capitalists even where the Sc
ces as is the case with this loan Of the Pittsburgh
For, WAYNE and Chicago Railroad Company, are CON-
psratvely new to the market.
The President Of the Milwaukee and Mississippi
Railroad Company denies in card that that Company
has ever entertained the idea Of Issuing preferred
stock.
By the Columbia, arrived this morning, we have
four days later intellg ence from England. The mar.
ket for Consols in London very sensitive, and mao
auctuated considerably On the LIST inst, Under the
influence OF report Of the capture OF Delhi, they ed'
ysnced TO 80; a9l iuctusted Monday, the Sd, from
eOl 10 CO., and closed ON the 18th at 90 9O for both
money and the account.
The prospects of the Money market were uniaVof'
able. The shipment of silver to the East by the
steamer Of the ith exceeded one million steriing and
an Indian loan of from FIVE to millions was spoken
Of The India Company had given notice OF further
rise of y cent in their rates for bills on inda I@
London Shipping and Mereas.s. GG-s'.s, OF me
evening Of the ith iIst., sys;