The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-05-15

Yet - ~ Ia xip q ,7o7 s27 IN specie, which The
h,rsst shAu.snt thus far during the present year. and
s.sssIs m amount The shipment made n The correspond
m period NJ year BY twenty thousand dollars. me
f,a,v,e Agurss show the whole amount brought since
NE Arss Il January compared with The aggregate Sr hs
sans time n 1885,
First four months in 1874 sSe
rrsS Our nneashs In 1851. nSe3SSs
p.re.ss This year 4s,702
rRANsFE1 o. A BANKIN6 HOUSE.
Tho banning house Of Lucas Turner ca are In The ~
Of Withdrawing from The active business - bankers In
California, for the reason we undersasd thai the present
house IN the city Of b. Louis, State Of Missouri have
large business that they require an agency In New York;
and mot wishing 70 increase the number Il partners have
thought proper 70 transfer the present nrm from Ban Fran
cisco 70 The city II New York.
CALIFORNIA STATE DEBT.
Tho following ie the law which passed the California
Senate BY almost unanimous vote in regard 70 The pay
nent Of the State debt
AN ACT no PROVIDE FOR THE PAYMENT or TIE rsRzsr ON NE
FUNDED DEBT OF TBI sTATI OF CALIFORNIA.
The people Of the State Of California, represented In
Senate and Assembly, do enact a. follows:-
Sec l. On or before the twentieth day Of November
next the Treasurer sa after taking from the treasury
any sum belonging TO the general nd, which said sum is
hereby appropriated for The purposes designated
shall have power, and is made his duty 70 borrow on
the faith and credit Of The State, such terms he may
deem reasonable, any sum which, with the said before
named sum drawn from the treasury, shall not in the ag
gregae amount 70 than two hundred and thirty thou
sand dollars for the purpose Of paying the interest on The
funded debt ef the State falling due IN July and January
Sec Should the amount of interest falling due on the
Ss d%y Of July next BE- not pa% snaer %
sum Of Two hundred and thirty thousand dollars, or 30
much thereof be necessary TO meet the interest due
the first day of January next shall be transmitted 70
New York In time pay said interest ut which time said
interest shall be paid together with the interest falling due
the fret day Of July next But the July
be paid accordance with arrangements heretofore made
by the Treasurer Of State then SO much Of the moneys
Poprated by TINS act as may DC necessary 70 pay the
he hat
pose.
Sec g. As soon az this act shall have become q law IL
shall be the duty of the Treasurer set and
forty of the collected each hundred dol
lars Of the taxable property Of the State which shall be
fund called the Interest Fund Of 1857 and the same Is
hereby horned be levied collected and appropriated
for the purpose Of paying the so Dor, together
her eby inhibited from drawing warrant upon the fund
set apart and reserved till such money borrowed
.for sad together with the interest uing thereon shall
Sec 4. The Treasurer shell be prepared war
rants Of the denomination Of I'VE tn sand dollars EACH 10
be issued as eviden of State indeb edness for money
borrowed under the provisions of Of this act
and shall BIS the duty of the Comptroller and Treasurer
each TO keep separate record of all such warant show
ing the number and date Of each warrant and 10 whom the
was issued. Said warrants shall be numbered and
signed by the Comptroller aad registered and
which shall be stated on their face, and shall be
paid in the order OF their ISSUANCE, and said
following mannerLWheneyer The sum Of ten hous md
dollars more shall have accumulated in the fund
provided for in section third Of this act shall be the
duty of the Treasurer to advertise the in
Newspaper published in the city OF Sacramento and
the city of San Francisco for the space Of two weeks
Such advertis shall state the numbers Of the
70 be redeemed and such warrants II not presented
pay Office Of the Treasurer within the said
two weeks, shall draw from and after that
payment Of warrants next in order Of issuance.
Sec shall be the duty of the Treasurer Of State TO
take eectual for the payment Of the semi annual
interest on the funded debt Of the falling due on the
FIRST day Of January next and also the semi annual interest
the debt falling the first day OF July next
provided the latter be not paid For this purpose he shall
Jake from any he have occasion employ In
the security Of The state such security by bond and mort
gage otherwise, shall be approved by the Governor,
OF & nr %
prosecuted In the name OF the oohgee or MORTGAGE for
his for the State
Sec This act shall be- submitted 10 the people at tho
general election in accordance with Article Of the
Constitution Of the State The ballots ued at such election
shall have upon them-"Pay Interest State Debt, Yes
or "fay Interest State Debt, No." majority of all
the ballots cast for and against paying said interest shall
have upon them Pay Interest State Debt Yes" then
this act sha become law and the Treasurer shall be
Sec The secretary OF State shall open all election re-
turns and canvass far this concerned
declaring the result in time for the Treasurer TO carry out
ia provisions.
CALIFORNIA AND NEW YORK STEAMSHIP COMPANY.
meeting subscribers 10 the stock Of the Cafor
and New York Steamship Company was held pursuan'
notice, San Hancisco, for the purpose Of organizing
the company and eecne the board Of directors About
forty OF The parties interested present
The meeting organized by calling Capt H. r.
Roberts 10 the chair, and appointing Sherwood secre-
Upon taking the chair Capt Roberts gave brief but
clear exposition Of the object Of the company which was
to establish a peoples hne Of first class steamships
the Atlantic and Pacific oceans for the uanepor-
taiion OF passengers and freight &c, between san
Panama, until further Developments shall
der change Of the by way Of Tehuantepec Hon
snd 70 nm hs s ap sno o2 s
Pacific ocean, 425 feet keel and 81 feet beam, embracing
all the recent improvements, including the double motive
power and four wheels, which the result OF progressive
experience endorsed BY the most eminent ship and
builders In the United satesand that their speed
shall be such ~ to enable them TO make the passage be-
tween this city ana New York in fifteen days. II was pro-
ed that the capital stock Of The company should consist
~ 81 10000 divided into four thosand shares Of $3.50
each In addition 10 the ordinary dividends Of the com
pany each stakeholder will have the privilege Of using or
selling ticket for passage each year for every share
OF stock, thus securing IN him dividend VI twenty
per cent upon the Investment, in addition 10
the regular dividends. II was believed that mch
ported by the public and that the people OF California
tab the Initiative steps IN establish them. Acting
upon this belief, number Of citizens had met and asso
caicd hcmscyes IN consult upon the matter and IN or
arrive fuller and clearer understanding OF the
subject and lbs probability they hal had recousc 70 the
advice views OF practical steamboat man,
one Who from his familiarity with BUSH Of the
i-ting hnes would be best qualified 10 give reliable
oysnion upou the undertaking; from laid be-
,re Them BY him they were sased not only as 70 The
feasibility Of the scheme, but Of ie pecunsary advantages
ako. acting under this mpr sion, they had appointed
commit Of Ave nominate board of fifteen directors
men who should be chosen with regard TO their business
qualities and sterling integrity, vho would not be indu
enced In their action solely by pecuniary motives and
whose would give weight andnsure the confidence
&C the public.
Hon NJ stone then proceeded 10 read the articles OF
temporary association. and To explain the legislative
quirements previous 10 their incorporation
Capt Roberts then stated that he had been desired ~
Of tho committee Of hvc 20 report the names Of oee
fxed upon by the committee board OF directors, sub
jec, the approval Of the meeting As hts own name was
upon the list he felt deicscy about presenting H. but
n
and OF until afterwmd de- OF their action.
The names then read by the secretary.
Upon motion, each voted upon separately and
twelve persons chosen directors with power 10 appoint
three additional directors and also 10 nh vacancies,
The following gentlemen were unanmousy choeen d.
rcctorss-
Capt N. r. Roberts, ~ o. Arlington,
jules David, NJ Marlin,
Frederick Trauck, Eugene Delessert,
r. kellersberger, W. J. Bailey,