New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-03-27

II wear are So SOC $685. against y AGO 569 last year.
snd So ,214 946 same time in 1885, Bids were 70 De
opened to-day st Raleigh for $500 oOO cents re-
deem boDds falling DUE The new bonds are ior ~
years and it Is reported that two bids have been ms'e
for the whole at about the rates current for North Jar
DINA 6s at the Stock Exchange.
EDgsh treasure transported over Panama Railroad
March g. and shipped to England per steamer Ihames'
Gold a Iss ssd Al
Total ACKNOWLEDGEMENTS 2,Sas19i Al
In many respects the card of the President OF the
Michigan Southern Railroad Company is an interesting
document. The exposition of the gross plumbers oil
previous management is frank and intelligent and the
subject is handled by Mr.. Bliss iu way WHICH proves
that the company had been fortunate enough to have
been under Bis management during the time, it would
now be suffering under such load of unnecessary
debt The endorsements of the company at the time
Mr.. Bllss took the Presidency again the Autumn OF
1857 evidently of the most formidable character,
ard it ia equally evident from the statement of Mr..
Bliss that he and his associates have devoted themselves
earnestly to the work of relieving the company 1t ia
necessary to give them the credit of having accom-
pshed much, after reading the sad catalogue OF embar-
rassment. The only part of the statement Of Mr. Bliis
which does not to be consistent with the rankness
in other portions Of his document is that which relates
to the floating debt This he states at S744 at the
same time confeseipg to deduction OF two months OF
the payroll, in order to establish what he calls the
floating debt proper" In March, 1859, Mr.. Bliss
signed the Annual Report, which gives the hoat'
ing debt as $l2ll ,0O7; and in this he seems to
think the pay rolls worthy Of being included as
proper part of the floating debt. Why deduct it now?
The truth s that this very item is not only part OF
the "hoafng debt proper" but part which, above all
the rest should be paid up. 1t is liability which can
not be ignored under any circumstances Ii the float
ing debt has been reduced from Sl,2ll 600 to $44OOO
during the year. will Mr. Bliss be good enough to show
us how the $i67 600 has been extnguisbedl The pay
roll which he deducts is part; how has the rest been
seted2 In order to form good idea of the matter,
the stockholders should have the details. The closing
paragraphs of Mr. BLISS statement are, in judg
men quite inconsistent with the STATE of affairs which
he Details the conclusions which he arrives at differing
very much from those Of many intelligent men who
take the same premises to form an opinion. Two
years and half have elapsed since the Michi-
gan Southern Road confessed bankruptcy, and
up to the pretent time the concern staggers under
a large floating debt, and dishonors it's mortgage
coupons. BY the report of 1852 the road appears
to have earned interest on it's funded debt and,
although we have not the official statement, we
presume the business of the current year has
not been much If any less productive. What them has
interrupted payment Of interest on the mortgage
bonds? When a company is confessedly bankrupt,
settlement of it's affairs is necessity. Why has the
Michigan Southern Railroad Company so long deferred
action Why should not the various interests be har
monized upon some plan which, taking an equitable
and comprehensive view of the whole may place the
affairs of the Company upon good footingl This ia
the idea which Mr. Bliss fails to comprehend; he
fesses the ebarrassment but fails to see the remedy
Mr. Bliss does not think that reorganization is good
remedy the present time but experience in ohercon
Gems seems to warrant different conclusion.
The Baltic brings the first bar made at the new
refining establishment Of Duncan Sherman & Co.,
and Alsop g. Co.. at San Francisco. The United
States Mint has declined to keep up the bullion fund
in that city. Owners of gold Dust have been much
embarrassed by the lack Of capital in the refining
business This difficulty has now been obviated by
there houses, who with ample capital are prepared
receive any amount of dust for refining. Their card
says:
Persons requiring Coin will be paid four days after the time
weight melting and cent for consge These charges
y less than those Oftbe United States Branch
Persons requiring Refined Bars will receive them four days
for coinage but they will be charged 10 cents
wesht after netting and lilo cent additional for bars
respectively under SIS COO the making of the basn
wolves separate labor and expense
Persons reQuiring Impaired Bars will be charged cent
Any deposo DESTROYS Of witnessing the melting Of his
gold can do so. -
dspotton Of the dePosito to enable him to the
the Assays Silver contained In the gold will be
credited to the depotors in the the United
States Branch Mint, hero
dispatch from Milwaukee states that proceedings
of foreclosure have been commenced under the first
mortgage of the Milwaukee and Mississippi Railroad.
The Bank statement of weekly averages is received
a. satisfactory by the street. The expansion of loans
has been checked, and the specie shows small
increase irrespective of the amount, nearly million,
received by the Baltic The banks generally show an
increase of loans but contraction of nearly half a
million by the Shoe and Leather Bank leaves the ag-
uegste about the same last week. The Shoe and
Leather was obliged to contract by the large drafts
made upon them by the Controller.
The following ia statement q the condition of the
Banks of the City Of New-York:
March II. March "a.
Loans 5t2s8 Sl276lS,507 no.. $5065}