The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-06-14

The receipts include 500 600 from customs aud pay
include 600 California drafts Toe amour.
deposit the close Of the Assistant Treasurer o,e
last evening" equal 70 per cent 81 600 Of
Treasury notes No better evidence OF the plethora Of
money than this can be desired. This shows how easy
would be for the government to raise drec. loan for
almost any amour.
The total expectation Of specie nom this port last
week was only GIG The California remissancss Of
and half millions of gold by the Star of the West, will
to swell the specie in the banks rne gold
discoveries Frazier and Thompson have crested
quite excitement in California, AMI large emigration
from the Atlantic States likely to take place. We
look for excitement among our floating population
nearly equal 10 that which took place upou the frst dis
covery of gold in California. w. +. Coleman Co., Of
Gan Francisco their circular prepared for the
remark
The only item Of interest in connection with the gold
product in the further int eoce
ceved from the deeipgs recently dis covered Frazer
and Thompson rivers We should judge that some two
thousand persons have left California for that region,
while there numbers In almost every se;ton OF the
State busy preparing 10 the OF the news
Of TO the mining grounds being had ny either tue
river land from Puget Sound. Tnere Is dis
agreement upon SUBJECT the gold berg there in
abundance Some receipts Of the DUST have 20 hand
to those OF the early placer digsings in California
The following reply Of the Secretary Of the C,mms
the subject Of the debt tina, city, created for
account Of the Cleveland an Psburg Railroad Co nplny,
ia Of the satisfactory character and shows proper
regard fer the credit Of the city and the claims Of
ditors;-
CLEVELAND, June Q, 1858
sR-Your favor of the It'll instan, is at baud and
tents noted. The have tax for
Of $4,000 TO be levied the property within the
purposes which amount il s deemed will be suflciess
pay the unpaid coupons and those 70 mature November
1858 The amount will be doubtless realized by tbs drst
Of November next when the with interest
and those due at that date will be paid The
bold contract with tho Cleveland ami Pusourg Railroad
Company, binding that company 10 provide for the cou
pons they fall due. This had prior Novem
ber 1851 been faithfully performed by the company noe
were the commissioners that the company would
fail TO fulfil Its obligation until day Two previous to
the falling due of sni COUPONS and at too ate perot t.
levy tax for the 1857 The commiss ,ners hal no
way to raise funds except by aud THE they re-
sorted TO they could by Law direct TAX 70 pc
levied. As have numerous inquiries OF tue same pur-
substance Of This letter TO be published money ara
Gle Of the HERALD. sc GasWOLD
To any person oil familiar with the msnsge OF
the New Erie Railroad ing past years
its present nanc al cond and the statement jest male
by Mr. Moran Of its business during The past six months
excite very great want Of conf ence i, the present
rol,y adopted for lis mspsgcmett First, Mr.. Moran ad
ils deficiency of $500 oco in receipts for Elk months
sufficient the interest IL funi led debt and nc
ceptances, saying nothing about dividends for sock
holders Second, deficiency OF gross receipts 10 six
MONTHS Of $50 34, compared with six months In tas
previous year Third, he claims 70 have redac7d tae
floating teb, bills payable sos ot7 co. bat a, taessms
time increased the funded liability OF tue company
O6os5 a. and has increased the fuaded and cash ia
blIty Of the company in SIX mouths, sS3Oel9 S. The
charge by Mr. Moran that The deacency OF $4,000
entirely owing to the depression during the late panic,
ny be in part true yet Affords little for
great a deficiency compared with the previous
Elk months. II must be remembered that on
the Sd day Of October, the previous year, the
engineers the New York and Erie Railroad
struck and refused 10 do duty, which caused enre
prosraon Of It's business and the necessity OF very heavy
expenses keep up the track and engine repairs Wash
the winter set In unusually severe, causing almost
sspcnson Of Business aud unusual expenses for ersgs
and keeping open channel in The Ice betscoa New YORK
city and PeTmont, the eastern terminus OF the road
When the ice broke up early in February and Marsb tue
road was visited with unprecedented foods nporan,
bridge carried away, causing another suspension Of
business Of least two weeks Yet with all thcse ain
eules surmount the road earned increased
Of si45,s71 n over the subsequent comparative six
month"; which has been exhibited In Mr. Moran report
The amount Of property 10 20 forward by rail IN the
autumn OF 1856 aud winter Of 1885, was compared
with the season 10 1857 ami winter Of 1858, and
there has been period since the conmsncement Of
railroads in this country vhcn the weather has been
favorable FOR moving trains and cheap transports
ton by rail during the pas, wioisr. Consequently,
this will Afford Mr. Moran very feeble excuse tae
"tcrrble winter" he expresses Il, aud deficiency IN
earnings lie urgcs should be remembered, ths, the
income In summer months Is always greater than 10
winter. This may be true OF January and February but
will no, apply 10 October, November aud Dece nbcr ,
which have sho The largest receipts Of any months
in the yearJuly, August and september usually oeiog
light II Ia evident that Mr. Norm lsbors ID show al
proved fnsnci. and business condition or tue company
The cash liabilities have been increased, tao
from actual earnings decreased and the )ng debs par
TALLY cancelled by incresnug the fuaded DEBT 10 o.oer
words increased liabilities been incurred TO ex
nsush old The future appears any N ns bat pro
Islrg for favorable condiEou Of this company at
the end Of the fiscal year. Appearances no~
much greater falling or in for the next six
than has beensbo In the past Mr. Moran Jm plaias
Of the ruinous competition Of othr conpsaes statoe
that NJ the present tims there is railroad company
the nited states paying concern. Yet under his
aeement without the influence Of connestnr llne ne
first sought 10 abandon all outside Influences 10 procure
through business, declaring that business soth
having could not be procured by hone Influences
While the other three great com petng lines have not
only powerful connections leading Eas and West, they
have maintained independent organizations secure
business and the result s the Erie road has lost rs
former through traffic, while the ether companies have
maintained their postiOn. II il Is possible to nsugu
rate efficient common and experienced man
sgcmoni, with liberal policy, for The Mes York and
E.ie Railroad much may yet be accomplished TO resus
the interest Of the unsecured bonds but aay value
in the stock may be considered hopeless. Mr.. Moran
was placed in charge Of this road nearly year SINCE
for compensation equalled only by Of the chief
Magistrate Of the United states, for the purpose OF
ciiatng ip shattered condition. Nine months have
elapsed and his report indicates steady decline
Of Us value.
The annexed comparative ataiement Of the imports
Of foreign merchandise Of the port oNew York Tor the
week and since January LIST
ri