The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-10-21

81 600 ia an wiheat mor,gaeing its land grant
few rs ago, matters in the West wearing more
eheerf txrs,earancc the company (of which Mr. john A.
Dix pridcnt) resolved to proceed with The work, and
1.,sri of about million Of It's lund grant bonds Sc
.d ON an 600 acres of land and the future road 70 be
built The bonds taken by two wealthy firms, and
Nth the proceeds 5000 Of railroad being
forwarded TO Iowa. The line viii add largely 10 the
| wealth Of the State OF Iowa.
IN reply to correspondent (who gives his name3 VIC
beg say that the market price Of Ia Crosse land grant
bonds appears to be l3h ceuts the dollar of then
ultimate vaue correspondent must judge for himself
SO far as we are informed they legal lien on landed
property worth than the par value OF the whole
ISSUE but the company has been, and is involved IN an
incxtrcable web of legal difficulties which may deprecate
It's securities for time To come Tho old company
has been sold out and a formed IL is proposed
we believe convert the old third mortgage into stock
In the concern and to ask tho land grant bondhod
scale their bonds to y cents on the dollar In con-
sderaon Of their getting mortgage on the eastern half
Of the road At present controversy Is raging between
tho second mortgage bondhoders who seek to forecose
the road and the company, which seems disposed
to contest the legality of their mortgage Mr.. Russell
Sage, of Troy believe, prominent man In the new
The following was the business Of the Sub Treasury
to-day
Total receipts Sl0o, %
Tor customs so, o0 ~
lota payments co. a9o %
baiance.. ...a,oio,Soo ~
The holders Of 25Oe 600 of water stock notified by
the City Comptroller that the will be purchased at
par and interest," by the commissioners OF the Sinking
Fund for the redemption of the city debit on presenta
ton the proper certificates and transferring said stock
at the office Of the Comptroller and after this day.
The United States mail steamer De Soto, Captain Bullock,
arrived at early hour this morning from New Orleans
via Havana She brings $243 SIT in specie.
The dry goods trade, a WHOLE is exceedingly dull
for the season The lndpndes Of oday has the follow
ing report
The importing interest s depressed. The demand has
subsidized and large stocks q goods yet unsold with
little prospect Of sale at y serious reduction Tho
jobbers are however, etl active, and selling large
b Of goods ut this advanced period of the
Fancy silks becoming drug, and be bought at
low prices. Black silks also IN excess Of the demand
Ribbons dull Woolen goods more steady There
have been large sales cf Belgian and German cloths cut
low prices Fancy styles OF cassmeres are still Arm
Shawls active. The desirable styles, such Berlin
wool and Paris broehe shaws, in demand Aornoes
are selling WE'LL ard firm in prce-not having suffer
ed under the general depression of prices in domestic
goods, all staple cotton fabrics Still In request, and
very dull In woollens spring styles being bought by
sample. Winter styles dull-the demand being over.
The inquiry for delaires which brisk, and
some jobbers replacing their stocks with large pur
chases.
The Panama Railroad Company notifies the holders Of
its nrst mortgage sterling bonds, due December l. that
they will be paid by Cavan Brothers Co., OF Lon
don or at the Office OF the company, al before
turty.