The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-05-24


The amount OF ,ho floating indebtedness, as shown
aboye Is s,4s1l A. The estimate for construction the
rreeent ear for large freight and u, ave en-.
gines ordered about $50, COO but Is foand that an
alteration sud enlargement q tho boas new on the ferry
will answer the wants q the business, expenditure Of
| over $50 600 will be obyistod
recent communication the finances and 2roepecs
| Of Yirst!a, Gov Wise Gays
The effect OF the public works already completed and
OF hcee ether Causes has been In the lat Ave years In
crease value resh state ono hundred mil
Hons dollars double III value 900 slaves
and 70 largely increase the amount Of taxable personal
MT inst reported for revenue purposes the rial os
tate L. IN round numbers, $S7s,0oo,ooe; the slaves,
a,o 1s s, the cp'cus is ses ,Ss uS
deryaued and the aggregate wealth of the State may be
ss sS ssmas was az II ls q:
in bali decade Of SEQ 600 Besides this permanent
value acquired the State has nearly 10 600 acres
of uumrgcved land yet to be developed and appre.
catc, and La, beside annual prod ct Of Oo hcgs.
heads Of tobacco 900 900 bushels Of wheat 100000
bushels OF rye 100000 bushels OF corn, 10 500 600
bushels OF cA 900 900 pounds Of WOOL 100000 bushels
Of peas and beans 600 bushels OF Irish and 10000
bushels OF sweet potatoes 10000 bushels OF barley and
buckwheet eco pounds Of butter 900 pounds OF
cheese 10000 tons Of hay 100000 pounds OF fax, be-
bsT 90 aga s
ducts Ct her mlnos Of iron, copper, COAL salt, gypsum
line and tho products Of her orosi' and fisheries And
shc has peculiar source Of wealth In her extensive region
OF mineral waters her hygcis alone bringing In million
and hall, at least, Of Income In cash per ennum.
The Rochester Democrat, 10 announcing the -ae Of the
Buffalo Corning and New York Railroad under forccio.
Of TIE FIRST mortgage bonds for 1915 900, says
The present officers Of the company viii be retained
until organization effected, which will be ~ or 10
the 1t o Angus; rcxt when tho &C the company
that the T PROFITS e % @ & yc, we % %
sale amounted 10 $4,000 Tho amount OF the nrst mort
gage bonds 81 600 Second bonds have been sold TO
The amount of about half million, and there Is about
etGOOo0o Of sock. The Legislature psssed an act rcr
hitting the stockholders 10 redeem the by paying up
the bonds and taking the amount in addionalitjck which
the tondhoders consider pot (ro and unconstitutional
The BIDS having run no 80 high, Is not likely that the
law The sale was decreed by Mr.. lusiIce John.
sou, WHO decided that the Grst mortgage be- nds
held The road and all The rolling stock, according
that The fret mortgage 4 leu only upon that par, OF the
road, right q way, and stock existing At the time tbs
bonds were given and that the scocnd bonds are lien
upu all acquired since. An appeal has been taken from
Judge johnson dec!on and IL now pendog second
S, ,serS cnse mortgage upon me rolling
makes them subject 10 the first The new company viii
begin free from debt and the road win be under better
auspices The contract under which the Gcnesee Valley
road operated by the Buffalo aud Corun Company SUI
puaes that the Gcnesee Valley stakeholder shalt be en
arrange ment, just effected they are TO receive Ia
addition their pro rata OF the earnings from through traffic
on thirty miles Of the road Abort four per ceot has
hitherto been realized upon the Gepcsec Valley stock and
when the line is completed 10 Mt Norris Ia October Ia
believed that the road win FOR the stockholders in
the rsrt OF the kre Railroad Company Of buying up all
these roads and consolidating the several interests pro.
position rogarded avorsby by those most directly Lcr
eeted in the matter.
The Albany Journal or yesterday publishes In fun tho
decision Of Justice Wright Of the Supreme Court in tho
matter Of the application for injunction to restrain the
Mayor and Common Council Of Albany from
raging the interest on the bonds issued 10 the Albany City
Northern Railroad Company. The decision reviewed a,
gres, length that Of Judge Allen 10 the city case
and coming loe precisely opposite conclusion points
of which are thus stated
That the act Of 1885, authorizing the loan Of the Gre
dit Of the city on Albany 70 tho Northern Railroad Compa.
ny, was an exercise OF the legitimate power Of legislation
2 That the exercise OF This power was not adverse
clsi tribunals to call II void
That there no prohibition IN tho constitution sgsIus,
the exercise Of such power by the Legislature.
And, therefore, that the remedy for the evils which
large and respectable class OF citizens believe 70 grow
out Of grants OF power 10 municipal conversations 10 loan
their credit NOT 70 be found appeals 10 the judicial M
bunas but masi he sought TIN ough other channels.