New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-05-23
,1c.~.u - nonidate rs iOsting debt, and insures

IN. Company own about 800 600 acres of land along
h route of the road which has been donated TO them
nv the State and by individuals to aid them in building
| the road These lands are covered with valuable
timber valued by the Company at $25 O00, OOO and
the land after the forest is of valuable at 8 500
OOO The whole length of the road is 1876 miles, and
like the Reading II has down grades for all s heavy
traffic The summing up of the report is as follows;
First We have Railroad stretching virtually from
Albany and TROY tide water and the western terminus
of the Hudson River Railroad 70 Lake Ontario at the
| most eastern port of the great Western Lakes.
| Second, We have Land Estate at nominal cost
of half a million Of acres, within ten hours from the
City Of NewYork. This land, cleared and converted
to agricultural purposes, would be worth certainly
$40 = acre.
7htrd. We have a lumber property waiting
transportation. Lumber il acknowledged to be
very remunerative business for a Railroad. The Erie
| Railroad may be cited instance which is doing
| profitable business, with the disadvantage OF an
| dnlatng grade. Would it be extravagaut 10 affirm
that these lumber lands worth much per acre,
when the Road has been completed and equipped to
convey their products to market, the lumber
lands upon the line of the Erie Railroad situated three
times the distance from market
Fourth We have the Adirondack mineral regions
as source of traffic. This location is pronounced, by
competent parties, the richest ore deposit IN the coun'
try
Fin: We have terminus at Lake Ontario which
must secure large through Western and Canadian
business of emigrant and other travel, and also of
freight.
The Milwaukee and Mississippi Railroad receipts for
the first eight days of May 81 3S5-an increase
of 81 go over the days of last May, when the
road was not operated through to the river. The Su
perntendent of this road advertises that through
trains, which had been interrupted by high water in
the Wisconsin, were resumed on the 18th inst
The Sugar market continues to be very active and
strong The sales large to-day, at very full prices
The Coffee sale went off satisfactorily, at average of
$40 20; the market at private sale is dull. Teas are
active and firm. The Cotton market shows buOyancy
and more movement. There large business in
Pork, the market closing firm Wheat and Corn have
advanced, but Flour is without change
The Phladdphia Ledger says:
Ii was some weeks ago determined to make a 10 q
censdividend i'll bends to such holders OF the common
stock of the Morris Canal and Banking Co. as should
on or before the 10Th inst consolidate their stock four
shares in This, understand, has been effect
ed At least 10000 out OF the Al 900 shares OF the
COMPANY have been so consolidated; and it is pre-
sumed that the time will be extended so as to allow
the holders Of the remaining 1000 shares an Opportn-
nifty to come in. Under tins arrangement holder OF
100 shares of consolidated stock will receive in dyi-
dend the COmpanys bond for 81 600 which Is worth -
T. cent. To enable him, however receive this bond,
he subscribe to 20 shares OF the Company pre-
fered 10 y cent stock at par which shares are now
selling at % T. cent. So that while he receives bond
worth $3.50 he takes it with the condition that he shall
pay 500 more for the twenty preferred than the mar
ket price thus reducing his net dividend 10 $500 %
y cent. The consolidated stock of the Company left
off yesterday at IS bid, 50 asked. On Wednesday the
stock sold at which is equal to SS for four shares
-deducting from this sum the s6i dividend, and We
have SOL 80 about the pnce Of the consolidated
shares. The amount Of preferred stock that will be
brought on the market under this arrangement will be
about 5000 000 and while it is being settled away the
price will doubt fuctuate considerably, and proba-
BY decline.
The following shows the operations of the Canal for
the past week and season, compared with cores
pondipg time last year:
eek ending May i6 ls57........... $3.50 II -, y.
week enuins N'' - --s3i482 rs
Increase in lS57... 20
The Canal opens this season with fairer prospect
Oh iage !"h i,T ssvcGIrs very character
The advices by the Niagaras mails are financially
quite favorable. The bankers write that money, has
become easier on bills and the drain of specie had
measurably ceased. Gold bars were going into bank
and the prices had fallen 3D. OF.
The circular of Hermann Cox 81 Co.. thus notices
the aspect Of the market:
Money has become decidedly easier, though the
rates remain unchanged prospects for the future are
now much more cheering and reduction OF tne pres
ent high rate Of discount Is confidently looked lof'
Messrs Stolterfoht, Frost Il Co. say;
An impression prevails that the immediate relaXa-
tion in the money pressure may lead TO more pera-
pent ease and although probably there VIII De as
appoument in this respect at any rate as far as inc
cheapness of money is concerned yet 1t has had the
effect of causing more cheerful feeling
In relation to American stocks the circular of Bar
ing Brothers & Co.. remarks:
The stringency in our money market, and the great
ouent value of money for temporary purposes,
are complete obstacles to investments at present. Out
-, hal dome RAILWAY SnartS
bonds TO trihing exant. United States bonds ana
stock can be sold at 1901. We should quote Massa.
chusetts SIS sterling bonds at 80 100; Maryland at
s9 GA Pennsylvania at 74 $40, and bonds AT |93
81. Pennsylvania Central Railroad, LIST mortgage at
SSaS9 ditto I'd mortgage sterling sellers at ". Mi
chean Central 1869 at 81, sellers. Illinois central
7'sS9a9l; Freeland 100 a lOS New-fork and Enc,
1862, 77d79. Canada 6's ll2 ll24 New-Bruns-
wick l03 Nova Scotia l0l3. Grand trunk shares
63Q65; bonds 6's 50 100
The London Times of the 9Th inst. says:
The demand in the discount market and at the bank
TODAY was full but not excessive At the bank the
appIcaons were increased by persons obtaining dis
count with the view of lending the proceeds 10 supply
the wants of the stock exchange
Foreipn securities opened with frmness, and prices
Temporarily experienced advance from when there
was no important recovery.
The closing quotation OF the French three per cent
on the Paris Bourse this evening was oY &c Tor
money and account, showing relapse OF about per
cent caused by speculative sales consequent prooa-
bly, ON the fluctuations on this side.
The statement circulated yesterday regarding the
proposed change in the capital OF the Bank OF france
is believed TO have been incorrect. The modification
AT present under the consideration OF the Council OF
State said to be simply for the increase OF t42oO
GEO. which, instead OF being lent directly 10 the gov
eminent is to be employed generally In the service
of commerce. industry and public credit Ii Is stlll
affirmed however that the bank are to open credit
of 60 900 or e. 400 000 in favor OF the treasury
| upon three months bills
1af,la 70 of