The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-12-01


The value of exports other than specie, for the
month of October, was S47457O.
The Board OF Directors of the Pacific Mail Steam
ship Company have declared dividend of ten per
cent of the profits, payable to the stockholders of
the Company on and after Saturday, Dec. T.
The increased earnings of the Erie Railroad for
November are reported at S75, ,0OO@SSO0 over
those of November of last year. This fact it is sup
posed has been tie cause of the recent advance of
the stock in New York.
The BAY STATE MILLs.-The Committee of Creditors
of the Bay State Mills have issued circular recommend
ing plan for capitazin the into the ..as
ington Ms The total debts 81, 400 900 of which
$l500 900 held by individuals and 5000 by cor
poraons executors and guardians unable to take stock
to whom such would involve unreasonable re-
sponsibes. The holders of the 81 500 become
stockholders and receive certificates the REIMBURSEMENT
of their claims. The 100000 to be constituted five
years debt secured by equal amount of the capital
stock If all the creditors subscribe, dividend 3 per
cent is to be made at if the subscription amounts
to s2000000 only dividend of 25 per cent 81 SOO
600 only dividend of 20 per The agreement
to be binding unless the subscription 500
00O and no creditor is to have the right to after
January 1st 1858, except by permission of the committee
and none is to come n at any rate, after January I5
The committee are of opinion that public sale of the
real estate is advisable. They think also that
the directors of the corporation will sell one of the
three mills by means of which large addition will he
to the active capital Two of the directors ra r. bc
nominated by the holders of the 5000 600 above mention
ed This 100000 is TO receive its proportion of ALI the
dividends paid to the extent of per cent rr annmm f
the five yearsa of dividends above per cent
to go to the stockholders The corporation to be formed
when 500 900 is subscribed Those creditors who do
not join in the plan will receive their dividends of course
from the receivers. These dividends will based on the
100000 already collected increased by whatever sum
this latter should be S5O0000 creditor not Joining
the new plan would receive rs on a dollar The
treasurer of the company is represent those credit
os who subscribe to the plan and receive their dip
dends from the receivers.-Boston Post, Nor 27.
The Cumberland City Bank at Cumberland Md. closed
on Friday last. The Cirilidn says
There were many combined to effect the ruin of
TINS institution, Of which light mention prejudice
of certain individuals who exertcd themselves with nm
ceasing efforts to cast odum upon the ncern and bring
1t into dsrepute-Some persons failing to make capita
out of the bank also used every effort o innra Ire ct
and standng-and last week, the refusal of New York
house to pay two certain drafts drawn upon them by the
City Bank has obliged it close doors make an as.
signment, and go into liquidation. Mr. James r. AMMAN
of this city, is the assignee whom the entire property
of the bank has been handed over Mr. AMMAN is gen
teman of the highest honor and in whose hands cred
tors of the bank can place confidence The con.
Germ was first established in 1913 Savings Institu
on but in 1850 it converted by act Of the Legis-
1ature into bank called the Cumberland Savings
Bank In 1855 at the last session of the Assembly the
name was changed to Cumberland City Bank"
The officers of the bank Mr.. James T. Norton of
New York. who only last September chosen Presi-
dent; James NJ. Schley; Esq, our fellow townsman.
formerly of Ohio has been cashier for past years
or more and during that time has become generally well
known to our business and Others with whom he is
warmly esteemed as worthy gentleman, honest and
upright man.
What the and liabilities of the bank are is not
yet made public, but presume its condition will be
published at an early day The debts the concern we
think, cannot be great il did small business and its
circulation does not exceed 600 or perhap $40 600
We understand that nearly, all of its depostors have
been paid leaving creditors but bill stockholders
the latter WILL of course if any be the principal losers
There is very little of its money in circulation this city
and county, and told that what is is distant
and widely scattered.
The CUilian advises the creditors sacrifice the
notes
READING RAILRoAD-The tonnage Of the PHILADELPHIA |
and Reading Railroad for the past week the largest of
the year. The future prospects of the company |
look exceedingly fatering They closed the year
Yesterday with about Sl20OO0O net profit, and it is
thought by the best informed in 1859 it cannot be much
short of 81 100000 Four weeks from this date it is ex
pected that the tonnage will be against $500
year as Iron works in operation suspended
he net cost for transporting coal this has been 60
year. as the Company of the valuable coal
mines IN schuyikii county and mine their coal
their engines The fuel next year will not cot $50 90
against S5OOOO five years ago when the engines burned
wood In few months the from Reading to Allen
finished, forming direct line from New York CITY to
Pitsburg by Reading, taking all the passengers and
light freight from New York the Lebanon VALLEY
Railroad instead Of via Philadelphia This will
Lebanon Valley Railroad one of the most nroftahI @
perties of the Reading Railroad Company ''' P'0'
THE MICHIGAN SOUTHERN RAILROAD showed a dacr.oso
of S3,3l2 in the third week in November.
The Banking house of Geo. Smith Co of Chicago If
is said is winding its affairs with its deposors and
will for the future conne itself the purchase and sale
of exchange and the negotiation of paper. This house
is of the oldest in that section, and the of the
concern, Mr.. Smith, has made immense fortune in
the past fifteen years operations in that section of the
The coal trade of the Lehgh and Schuylkil regions
increasing The last weeks report showed of
439 tons but the decrease in the entire is
down at 117,57S tons
THE ANNUAL REPORT OF THE PITTsBURG AND BosToN
MINING COMPANY (CliT Mine) just For the year
ending Nov So 1857, the product was 6sl tons which,
with Il $50 lbs of refined "copper" the yield of large
cumuaton OF Stag at the furnaces produced in money
S496,S1O The ordinary expenditures s3ls,795,
properly chageable to the year The total expenditures
were $50, including the of two engines
and appurtenances The net profits of the year 179
0S5, from which dividend of SO 5000 shares and
dividend OF So 600 shares has been paid The surplus
on hand Dec. l, 1857 $136 ,s97.
The exports specie from California for the month of
October and the year were as follows
October. ........... 81 342 679
Previously this year .35 COS 113
Total since JAN 1st 1858. 4s7, ,792
Corresponding period, 1857 80 296 $50
Excess in favor of this $40 906
The value exports other SPECIE the month of
october s474570
The interest coupons the bonds of the Teveron Coal
h INA aroad Company, due on the lst of December will
De PAID on that day
The hearing in the casa or Mr. uongbtop caebiar of
Tue Bank of Connecticut has been postponed on
Vi ms being in of health bordering in
ed up. ~ ~
The New Haven Journal and Courier saws:
we understand that the affairs of the Bank are in des
.a. put the receivers, Messrs Harrison and
to discharge their duty, and pro-
lect lne puDic from loss, as far as nossibe
At Cincinnati the 26th instant q ,ooiio, ,ros ,oda
before 1uuSes McLean and Leavitt of the United States
Circuit Court on behalf of George Coe Trnstee Re of
me seconu 9 pond holders of the Cincinnati Will
nington and GAINESVILLE Railroad for nai decree direct
ng the sale OF the road. The princinal oronnd 90 t ~
ion is the fact that the interest not been Maid ana
hat the bond holders entitled to the relief tinnata