New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1858-12-22

Among the new railway enterprises OF the state OF
illinois now in progress is the Illinois R'vor Road
which viii form ar extension of the Chicago and ROCK
Island from Ch;cago the Burea Valley Road 70
jacksonville where it meets the Alton and 81. Louis
Read. The entire region Of country from Peoria 70
ST. Louis s among the richest, most popuou' aud best
developed interior portions Of the State The northern
twothircs of ths road ready for the rails and the
residue Will be ready by tie tine the rails are dehv-
cred on the line. Nesry the whole Of the work has
been done within the last year, and paid for excu-
siv.ly with loc,l subscriptions, notwithstanding the
hard tiues and the residue will be psid for IN the
same way The first mortgage bonds are to be used only
to psy for IRON freight tracklsyng and rolling stock
All the has been purchased at the present 10" prices
with the cash proceeds Of the first mortgage bonds
The chars and spikes are Of the bet American, and
the res of the best English Manufacture the rslls
being of the same brand those on the Grand Trunk
Road in Canada. The iron is to be delivered IN New
York in March, and forwarded to the line OF rosd as
soon navigation opens in the Spring, and the track
laid Immediately. The character OF the work aud
material insure frstc,ass road; while 1t Will cost,
fully completed according to the estimates ess than
500, 900 T. mile. BY the terms Of the mortgage, and
by consent Of the shareholders the entire net earnings
Of the road irevocaby pledged TO the redemption
Of the mortgage bonds these earnings to constitute
pnkiIg fund and the Irustees being required ~ e1-
haust this fund annually in the redemption. This
is novel feature in railroad fnance-the first
plan of the kind, we believe, introduced
in the construction Of railroads in this country.
Tie stockh 6ers cons st Of 500 persOrs chiefly
faTmera residing the line Of the road, who will be
benefited by the increased facilities for transportation,
and in the value Of their lands to extent far greater
than the amount of their subscriptions and hence they
yield al ,aim for dividends until the fret mortga
bonds are fully paid. II the Chief Engineers estimate
ofrevenue is correot-snd it is confirmed by the opin
ion of j. Collins Chesbrough disiDteresed civil
gDeer of tais city then the sinking fund viii redeem
the whole Of said bonds within period of ten years,
and the road be returned free of debt to the stock
holders
An additional evidence Of the correctness Of said es-
innate OF revenue consists in the fact that the advanta-
geous running arrangement made with the Chicago
ard Rock Island Railroad Company rMders il certain
that the road will be operated al cost not exceeding
40 y ~ Mt OF its gross earnings.
We annex Comparative statement Of Exports lex
elusive of specie from NewYork to foreign ports for
the week and since Jsa. l.
TOtal for weet.........s l,e.234 sie9Ssi6 eLl57I5
Previously repored..... T,47O9p 7oi5l0 5'7jsSo
Since Jsnosry I... s7oils2H s72o7s,S26 s5S,ssa5S
The following are the Currency, Land Warrant and
Specie quotations for the week, corrected for us
from the rates current at the Banking Office OF Messrs.
Thompson Brothers: