The New York herald., 1862-10-03

OF interest, for about So, ,0G0, coo, which hsvG
been given by farmers and settlers for lands
bought Of the company. If the currency Of the
country continues to depreciate as it has done
relatively to all other commodities, these
farmers and settlers will very soon obtain
such prices for their grain and other pro-
duce as will enable them to pay of their
notes. Their land will rise in currency value to
such an extent that any who sells will be able
to pay of his debt to the company and make
handsome sum besides. In other words, the land
notes, being for sum fixed must depreciate with
the currency; and thus the company will perhaps
unexpectedly come into possession, in the course
of the next year, of some six to eight millions Of
dollars. Thus far the company appears to be the
loser by the operation. But, by provision in the
charter, the company has at any time the right Of
paying off its bonds at l20 per cent. If gold should
advance to 1870 lao, and the company should find
itself flush of funds by the payment Of land
notes, it would undoubtedly begin to treat its
creditors as it had been treated by it's debtors,
and would pay off its bonds at l20 in currency.
1t may in this way reduce its bonded debt one
half in the course of the next year. The expert
ence Of the past few months has shown that the
closing of the Mississippi has not diminished the
capacity Of the road to earn expenses, interest on
its debt, and something besides. The reopening
Of the river will still further swell its receipts,
and there will be no use for any surplus gains
from the payment of land notes, except
to buy up the bonds of the concern. 1t s
presumed that these are tie reasons which have
induced the late heavy purchases of Illinois Gen.
tral stock. Spectators seem to expect to see it
sell at premium within a very short period OF
time
The following s the statement of business Of
the Long Island Railroad for the six mentls end.
October l, 1S62:--
Gross earnings. Sl67 ,096
cost OF operating. ....................S7i GAO
Interest debt Observation-Disclosures. 23 ,S53
DVidchd SIX months. 40 ,OU0-l4O,a93
Surplus .....................S2 $50 603
Some SIS 900 of postal currency was distributed
this morning, in SIS packages, at the Sub -Trea.
sury.
Internal revenue stamps arc so scarce that many
dealers do their business without them. They
cannot be punished for delinquency when they
cannot get stamps.
The statements of the banks of the three prin-
cpal cities of the Union for the last week compare
with the previous ones, and the corresponding time
of 1861, as follows:-
N York Sept asisf ,s s.si'sts Ss s s
Fsisa FSs sept sss a. g. &ss5ss s ss s5 ssS sS5 $f
Total. ll9 204 687 le3 g73024 % GI6A
Last week 26S5 720 l8Si557l 5l2sC Cl0 22 2036S
Last 25 97l l3293S GS9 49066 l48 H. i72387
The statement of the Boston banks for the last
week compares with the previous week. and for
the corresponding week of 1861, as follows:-
Sept. %, 1862. Sept 90. 1882. Sept. 80, 1881.
Loans ......$7o ,s32So7 7o0sl ESQ 62,2s2, ~
Specie. ........ 1888 $40 79T0,332 5,7l9,294
Deposits. s..... 25, 10000 26397 1926 2O,Oi2,67s
Circulation. 1888 1888 ,067 6,33S ,923
The statement of the present week, as compared
with the preceding, shows decrease of s25l 2ll in
the items of loans and discounts, an increase Of
s45S5 in circulation, 1856 in specie, and s426 Az
in deposits.
The business at the Philadelphia Custom House