New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1858-10-06
Deposits ant

s So sss .s sG;s.: sss s
Is, rs. ,%::: n ,ss j $50 il li@IIs
The exchanges at The Bank Clearing House this
morning were $l9, CAS-, 43j o..
We hear of further sales Of $50 600 Treasury Notes
at par to premium for Gas Per Gents. Also
SEQ go or 10000 United States IS loan, at lO3t
closing at that bid.
We have received the Report Of the Michigan
Central Railroad Company for the year ending Nay
g. 1858. Tie earnings for this year are 2,4s'o' %
against g., ,6G2 60 last year-loss s675,45 IL.
Disbursements this wear q ,53 ,2ls "a a. against 81
0s3 l99 80 last year, net decrease $l5l ,es b. The
Report rays:
Previous TO January lst Of the present year, the
operating department was charged monthly with OIL
tie u,ohey expended for it, But as the expenditures
included materials bought for future consumption,
was thought that change in the system by which Gil
materials purchased should be charged to separate
account, and each division Of the operating depart,
ment be debited with the actual labor aud material
used would be Improvement by showing monthly
the real cost of working the road.
new system, in accordance with these views, was
established on the LIST Of January last. BY furnishing
exact comparison between the different months, u,
will afford the means of exercising stncter conlro
over the EXPENDITURES the accountability VIII be more
direct and therefore effective; and The efforts OF the
officers and managers to econolnize, being more INTEL
hyeltlv directed; VIII secure more pracllcdlfehus'
rsi.f Nay ST. s2os8ls 90
Les. Increase Of materials on hand -
during that year.....''''''.'''' -iV''' 81
Actual expep,es Of operating the rosd....... *le4 s.
Operating disbursements from june
+ to Dee. 81, s57..........:...... ss5',i7s@
Add for Of materials on -
hand daring that tine......'... i'1'"a %
Expense Of first seven uon,h....... 81 ,osa.7S4 10
kap.us for the other months. 5'i,es u
for l.t5S,sI& 70
shown, .a,in. d,r;n. the yesr........ ssqi2 20
II will be- noticed in the comparative table of OPP
Grating disbursements and the statement of decrease
of materials hand, that there was no saving, but
rather an Increase of expenses during the hrst nan
of the last year over the previous one.
We were then experiencing all the evils incident 10
an active competition, consequent high speed OF
trains and outside expenses with the hnancia crisis
came Il cure to OF these evils. The great lines
Of petition found means OF negotiating win each
otl .r TOR tie common good and the speed of trains
has been reduced to reasonable rate, aud outside
expenses principally discontinued
The prices of labor and materials have fallen from
the high rates before ruling, and our efforts 10 reduce
the working expenses have since the opening of the
present year, net with considerable success -.
Saving Ipenses for the first five monhs -S9 s.
Ih. aross .aruings Of these five months have in Tie
ssgr. gate fallen below those OF the last year. By go .
thr sum -~'''" 'f
Showing net gain for five month, off,. s25z77 ~
uart Of this large saving in expenses II due Ia the
during the year little over a miles of rails nave
been rolled at cost Of $li, 3SS 81, and charged To
ont ratlng expense; 3 long freight cars have been
bint ami charged to the same account and it is b.
lieved that the entire property OF The Company has
been fully kept up, and was never VI more ehc"n'
condition for service than now.
No expenditure construction account j. recon-
mt nded for the next year, is il believed that any Of
ia portance will be required for several years the
equipment and facilities of every description being
an PIE for very large business.
A contract was entered into last season with the
Michigan Southern Railroad Company. TO take effect
November |, 1857, by which tue through passenger
business is divided equally aud We divide equally with
them all the through freight business We do over ~
cent ana they divide equally with Us all they do over
~ T. cent We had been doing larger proportion of
the through business than ths division gives 10 our
Company but II was not probable cond be closed
on more equitable terms, with the nope that ther
through business would become more prosperous, We
CONCEDED the difference rather than continue the
competition existing before This contract II to con-
tiuue one wear from the first of November unless re
voked on thirty days notice by either party under IL
most Of the outside expenditures are discontinued
The Transportation business upon the Lakes has
been 50 Improbable for the lest two years, ana the
prospect for the present on being sti worse We
have laid up the Companys steamers ana made ar
rappenent for a line Of propeers Ia I'LL their place
this season upon the North Shore Route at their own
risk as Ia profit or loss. For freight aud emlgrants
these will answer all the necessities Of the trade and
the steamers will not be required again TIL change
for the better occurs in the Lake business.
The business Of all the Western States has been very
much depressed since last Autumn but their resources
ar, very great and their elements of prosperity can
only be temporarily checked, to return 10 their
usual channels of rapid growth and substantial prog
ress. With the renewal OF business 10 that region
the earnings Of our road Will come mp again, and We
have reason to hope that the experiences ot the past
wear have permanently done away Stn many of the
causes Of Improbable expenditure, and viii he the
means OF promoting strcter accountability aud more
conservative management of this species Of property,
and if So the disasters Of the year may result in per-
n arent benefit to the railroad investments Of the
country.
From the Treasurers report II appears that the
bonded debt has been increased during the year past
in the sum Of two million four hundred and fcy.even
,bou.nue five hundred >4SV "
m pr.., M ,alu. Of assets tucludiug cash N
hhuo) il less than al this time lAs' year IN the
$3.50 u
This amount has been disbursed a. follows:
Reduction Of floating debt : ,solr-i7 "a
R,ouction of capital stock, fractions
rurchased. - W
OF d,,d, No. due June l. 1851, since