New-York daily tribune., 1859-06-29


spirited contest has for several weeks been car
red on between the railroads running along the south
shore Of Lake Erie and Wards steamboat line, which
promises in its resus TO involve large losses to
or both parties before it is terminated. The boat
inc is from Toledo TO Buffalo, touching st Sandusky
and Cleveland. Under the competition, fares have
been reduced between Cleveland and Buffalo from
$5tosl 50. Passengers are ticketed by boat on the
Lake at g or 81 less than by all rail.
The Receivers Of the Hancock Bank, Ellsworth,
Me-, will pay 25 cent to the holders of certificates
of claims against the Bank
The Philadelphia P.Rasylraaian learns from the
Hon. James Ross Snowden, Director Of ths Mint that
there is every to believe that the yield Of gold,
during the present season. from our gold-producing
States, will afford favorable comparison with that OF
any former year.
The City Of Wheeling is making an attempt to CON-
promise its debt, The IVieeling Times says:
As 10 the terms Of compromise effected, they
be very briefly -tated. As understand it, the Com
mittee agree that the city shall redeem present oat
standing railroad MISUNDERSTANDING to some
$53s OCJ-by allowing the bondholders thirty cents in
the dollar the original principal OF the debt, IN
cash; or to issue to them bonds at fifty cents
the dollar on the original amount the bonds thus issued
running through period If twenty years and bearing
the usual interest. These are the terms agreed upon
between the Compromise Committee on the part of the
CITY and the bonGhoders By this means IL expected
the indebtedness Of the city will be very considerably
reduced-say = lrd 10 half the present amoun:-snd
no doubt is a(sined but that We shall be abundantly
able hereafne = meet our municipal Obligations as
they shall bessoe due.
The Arrangements entered into some time ago by
the Banks Of Philadelphia, to receive the notes of
most of the Banks of the interior of this State, We
learn will be Discontinued and after the first Of next
month, July.
At the meeting of the Directors of the Minnesota
and Pacific Railroad Company, in ST. Paul the follow
ing gentlemen elected 10 the respective Offices
named: President, Edmund Rice; Vice-President.
r. r. Nelsen; Secretary, T. ~ Me,caifi Treasurer,
(. Caldwell: Executive Committee, r. K. Nelson, ID.
c. Shepard, W. b. Shute, T. NJ. Metcalf E. Caldwell;
Attorney, j. b. Brisbin; Engineer, ID. C. Shepard.
Gov, Ramsay resigned his place as member OF the
Board of Directors. The vacancy occasioned By this
resignation is not yet filed.
The State of Indiana has for some time had the
money ready in this city to pay the interest due July
l. The entire debt Of the State is s, ,35S3 36l; of
which $5 3l2 600 is y cents, and $20i5, Sol Is u
cents This does not include about $500 900 yet out
standing and unpaid of what is called the Bank
Loan. The Sinking Fund growing out of the State
Stock in the late State Bank will pay off the balance
Of the debt with surplus of about - $50 o", when
goes to the School Fund of the State. The ASSESS
ments for taxation in the States for this year amount
to about $650, ,OO0, Geo. Seven years ago the sum
wa about 500, ,OOOOC0 The annual State revenue
will be about 81 2000 900. The expenses Of the State
Government including interest ber debt, amount TO
$500 Ooo per year. leaving large surplus OF revenue
applicable TO the annual reduction Of the Sts;e debt
which By law has 10 be thus invested, the Auditor,
Treasurer and Agent of the State constituting Sink
iDg Fund Commission for that purpose, The p .
cents are redeemabe in 1897.
We have received communication from p. Out-
water, jr., the plaintiff in a recent law alluded
to in columns too late for pabEcstion to-day, but
We shall endeavor to ind for his statement to-
morrow.
The annxal meeting Of the shareholder. Of the
Michigan Central Road wD held in Detroit, On Non.
day morning, when the following gentlemen we're