New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-06-05

By ~ advertisement under the financial head il
will be seen that Messrs c. Congreve q Son, and f.
Whitehouse Son g. Morrison of THE city, are offering
for the attention Of capitalists $4,000 Of Land Grant
Mortgage bonds of the Texas and New-Orleans Rail-
road Company. The Texas division of the road CON.
mences at the city Of Houston, and runs In due east
erlv direction TO the Sabine River the boundary be-
tween Louisiana and Texas, l06 miles. From thence
eastward TO New-Iberia, IL miles, the road is now
under contract under a charter from Louisiana aud
Texas. There it will connect with the New Orleans
Opelousas and Great Western Railroad, in operation
81 miles to Brashear City, in Berwcks Bay. An ad-
diticnal As miles of this road carrying to its point
of intersection with the Texas and NewOrleaDs road
is under contract, and is expected to be completed
within the ensuing year. These bonds bear q cent
= annum interest, and the principal reimbursable on
the lst of November 1873. They part of issue
limited to 81 500 600 in ALL They issued to furnish
portion Of the for the construction Of the Tex
as division of the Texas and New Orleans road the
Grand Trunk line which will connect within the next
eighteen months the cities Of Houston Galveston and
New-0rleans, bringing the first and last named cities
within fourteen hours of each other AMI reducing the
time Of travel from the capital of Texas 10 New York
10 about ninety hours The Company have 400 men at
work have the whole line under contract rails enough
on the line 10 lay IS miles Of track and 900 tuns more
purchased. Seventy five y cent Of the work on the
Texas division Of the road preparatory to the rails,
il completed The engineer has no doubt of compile
ting the Texas division this year. The Company es-
innate of earnings gives 1851 O67 net for the year.
The State Of Texas has donated to this Company six
teen sections of public lands Of go acres each a. mile
and made a loan of $4,000 T. mile in United States
a cent bonds. The security upon which these bonds
rest is thus given in the report Of the Company:
l They ere mortgage upon railroad and its appurenances
If The esuatrd cost 20OOO the net earnings OF which
cannot be less 1851 co. equal 10 52 cent per annum
I'd They are mortgage upon 1853 900 acres OF land gwen
by the the Company the probable value OF winch
viii be- equal treble redemption Of the entire issue
A. security for the prompt payment o the IN
t couop-peBdng completion Of the road for through bns
uere by special trust deed town and individually
qiyen lands a. present estimated at t1DOOl
The Bank statement Of weekly averages IS unex-
pectedly favorable, showing contraction OF loans
with large increase in the specie reserve. The con-
traction Of loans is forced on the part of the
banks. The scarcity Of paper has prevented them
from keeping up their lines. TIE amount Of the specie
shows that the receipts from the country have
been larger than was anticipated. The aggregate is
greater than at any time since May OF last year,
Seven banks now hold over d million each, and the
Commerce holds nearly $3,7Oo000. The increase in