The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-02-15


The exchanges at the Bank Clearing House this |
morning were $40, 243 SOS IL, and the balances
81 ,1ol,273 70.
The Michigan Central Railroad invites the ex-
change of a limited number of its bonds due April
! for first mortgage second Sinking Fund bonds
due in 1882 and proposes to pay for the present
bonus of five per cent upon ali bondsso exchanged
The second Sinking Fund is made from an annual
payment Of s24 $780, in addition to any surplus from
the first fund.
In the Supreme Court Of Pennsylvania In the
case of Hamilton against the city of Pittsbarg, on
two bonds issued by the CHARTERS Valley Railroad,
and guaranteed by the city, decision was rem
dered, concluding as follows.-
That the defendants their Office be, and
they are hereby commanded forthwith 70 make nun and
smp provision for the payment OF all the interest now
upon the bonds issued by the Mayor, Aldermen aad
czeps Of Ptsburg payment OF their subscriptions Of
$3.50 70 the capital stock Of the Charters Valley Rail
Company according 10 the tenor Of said bonds, by
the assessment and collection Of such taxes as may be
a for the purpose And 10 further ordered that
the defendants pay the costa OF this suit
In the course of his opinion Judge Strong re
marked that while the impolicy of municipal sub
scription TO stock in railroad companies must be
admitted the constitutionality Of laws authorizing
them has been sustained not only in Pennsylvania,
but in sister States, by weight and uniformity of
JUDICIAL decisions such as very few other constiJu
tienal views have been able to bring to their
support.
The Norwich and Worcester road shows loss of
about $500 in January on Boston passengers, and
81, 600 on Boston freight The boats were of one
week, and the fare is now So against 81. There is
gain Of 81 ,l4l on local freight and passengers
Receipts in January, 1859 .$2i ,6S0 90
Receipts in January, 1860. 2o,os7 Id
| The Chicago Press Of the 18th inst speaks Of
| hedulness of business hus:-
Surplus of funds has accumulated In the banes Snd
very little, any, movement can DO expected for sevefa
weeks come. Outside the banks money 10 close and
collections dficrit Borrowers are comparatively fS~
! ard their wants are not go urgent
The Chicago Press Of February II ssys:-
The amount of deficiency shs socouzs Of J. W. but
Bank, is ascertaned to be $33 6S7 S. TIC anourt Of
stock held by Dut.on and Patterson Of kuscatine has
been surrendered 70 the bank which reduces the deaca
| ton to about s2o, COO
| The annual meeting of the stcSkholdersr of the
| Sunbury and Erie Railroad Company was held al
| Philadelphia yesterday. From the annual report
there submitted it appears that the company have
applicable to the completion and equipment of the
read, balance .:Sl 900 6O2 81
The balance unissued Of these seven per cent
Cine sM tho i've per csnt mortgage bonds
Jhss2menS 1PoS 9sccs :s.. s.S1 9OSSS q
FOta. poe, Goa .;
Board estimate that 81 1856 ;O00will complst1
the road the entire distance from Sunbury to Eis
harbor, and put it in order for business
Vhe-entire length OF the line from Sudbury Il
Erie sharbor is 22s mites. of the whole distanc,
lOs miles of track have been laid with the sdings
station houses, &C., leaving lao milesto be laid. o
! the latter 100 miles are now ready for the super
structure. .vs4.f
The following is synopsis Of the report ef tn
trusiee Of the Ohio Life Insurance and Trust Com
pany:-
In obedience order OF the honorable Court issle
l December /, 1859, James T. kbreth sole trrsee
:he Ohio Life Insurance and Trust Company forth il
the accompanying papers as follows, to wit =
Accounts against all parties gathered out OF
the New York books. $2,g?O,956 IL
Accounts and notes against sundry parties
OF the Cincinnati books. ............... 596,I27 81
lrnally -. 80. loso,l2s 90
aoie value being. $500 on
dong standing and small value. . e9,lsa ss
! Assets, the great portion uncertain aud
| nominal ~ 1S2,557 A
@ schedule OF the OF creditors whose claims
have been allowed by said Kbreth aud Reesaeln
tees with the respective amounts, up 10 November IS
1866, as follows, to wit -
Depoeitors in the Banking De-
pcrtment fully adjusted 80. e20G ,2222 %