New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1858-01-20


16OScre Warrants per scre.....s7 cents 80 cents
Letters from Mobile and Philadelphia announce
mercantile failures at those point.
A batch Of $4,000 of the 81, 900 Treasury notes.
wos received here to-day from Washington, and were
deposited in the Bank Of Commerce. Some of our
Banks are willing TO receive on deposit at par, a
moderate amount Of these Treasury notes but others
decline to do co. The applications for the notes are
not yet large.
The Secretary of the Treasury has issued orders to
collectors, receivers of public money, and officers,
directing attention to the following:
Should Treasury notes. bearing interest be sent to
Disturbing officers agents Of the United States for
the payment of public creditors, such officers agents
will be directed to date their Endorsements and the
date SO Endorsed is legally regarded as the true date
of the issue OF such notes, from which the interest
thereon is to be computed
Tie fact that the gross earnings of our Railways
during the present Winter exhibit serious decline
compared with the last, is not in reality strong
argument against their general prosperity would ap
pear on superficial examination Of the subject.
During the Winter Of 1867 the expenses of nearly
every Railway in the North and West were enormous,
on account of severe snOw-stoms which not only op.
posed formidable distractions to general business, but
involved amount Of expenditure in clearing tracks
and repairing machinery in some cases beyond the en-
tire amount of gross earnings. The Milwaukee and
Mississippi, for example, expended in the month of
December 1856, about $4,000, against $685. 900 of
cepts ard We have no doubt that similar results were
experienced on other roads during the same period.
Tie Illinois Central, Calena Rock Island New-York
Central, Michigan Central, Southern, Erie &C.. all had
very large number of their locomotives disabled and
laid up for repairs, and there was fearful bill atcu
mulated to make good this unusual damage. In point
of fact we doubt if single railway at the West can
show the first dollar of actual net earnings during the
three months of December, January and February Of
1856 and 81, taking repairs fully into the account.
Thus far in the present Winter We have had in the
country unusually mild weather and but little
Business though light, has been uninterrupted, and
the expenses not sweed by extraordinary repairs
Taking the Milwaukee and Mississippi again as
ample, the gross earnings are about Si2 900 for the
month Of December, while the expenses probably
not over 40 per cent. The argument drawn against
railways therefore, in consequence of diminished bust
ness at period of general prosraon, is unsOund and
allaeious unless we are willing to adopt the idea that
this business parue is to be permanent visitation
a conclusion which acquainted with the enter
prspg and energetic character OF the American people
can arrive at unless his mind has become befogged by
the clouds resting upon us for the moment. Ii is con-
tended BY many intelligent and practical railway
men that the net earnings of majority of our lead
mo roads the present Winter will actually exceed
those Of the last year at a corresponding period
Of time: and there is certainly good reason for
arriving at such conclusion, for, in addition
TO the saving Of wear and tear of machinery,
and the expenses Of clearing tracks of snow and ice We
have had thoroughly economical measures introduced,
and in labor and other important items the saving has
been large Tie New-York Central Road, we have
been informed has dispensed with the services of 500
men between Albany and Utica the first division of
the road and on other lines the retrcnchment has
been equally important in the proportion to the busi-
ness transacted If these statements are mainly cor
rect and we believe them TO be, there seems to be
little or no reason to postpone the Midsummer diyi-
dends. unless for the purpose Of paying up floating
debts TO conform to the conservative spirit of the
times.
The transfer books Of the Cleveland and Toledo
Railroad Cumpany will be closed on Thursday, Dist
inst and reopened on Thursday, 2Sth inst, at the
Corn Exchange Bank
The Managers of the Albany Bridge have given no.
,ice Of motion for the Dist inst before Judge Hail. al
Albany to dissolve the Injunction granted some time
since by Judge Nelson.
II Is stated that the Senate Committee tie Pacific
Railroad have agreed to report bill to authorize con-
tracts for the transportation of mails and munitions
of war. 1t is also proposed to capitalize the sum of
money which is agreed to be paid for transportation,
and TO issue United States Bonds, S y eents-not ex-
ceedpg s25 OO0-O be advanced to the contractors
to be returned BY them in rsnsportation-they in the
me an time to secure the United States by lien upon
their road 1t is also proposed to make grants of lands
in the Terrtories-boh bonds aud lands to be given
as the work progresses
A special message Of Gov. Pollock TO the Legisla
ture of Pennsylvania in answer to cal for informa
ton relative TO the sale of the main line of Public
Works Of the Commonwealth to the Pennsylvania Gen.
al Railroad states that the amount of their cent
bonds given by the purchasers was seven and one-ha
millions of dollars in payments and for amounts equal
TO- and falling due at the time provided for the payment
Of tie respective Dsalments, ard were delivered to