The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1862-05-20
A Toronto paper publishes the following des
patch from Quebec, showing the estimates made
out by Mr.. Gait for the year, ns6FsnE lsfs M4

out by Mr.. Gait for the year. uf8Esna ssG n4.
The ordinary expenses arc estimated at 81 o0 and
The extraordinary s5.ss4 500, making total sum Of
year there was falling of in the customs revenue Of
$3ss449 compared with the similar period Of 1861 The
Minister reach $500 600 The recsiptsrom this source
would therefore BIO 050 To meet the deficiency.
Mr. Gait proposes in the first place. to issue provincial
exchequer bills for 81 900, bearing five per in
terest redeemabe on four days. notice. He also pro-
poses duty beer spirits and rectifed Spirits
which he estimates will produce $7S6 $685. Tobacco ia
to be made 10 contribute 70 the treasury the amount
Of S62 600 from excise duty and license fee from
manufacturers Mr.. Gait also proposes TO ask an in
on the duty on teas sugars, molasses and to-
bacco, which no expects to bring him 81 sos 572
small stamp duty is proposed. The Finance Minister
also asks for repeal or that clause Of the bank charter
which requires deposit of por government
securities, from which he contemplates obtaining
venue OF $4,000 Articles paying an import customs
duty Of twenty per cent TO be placed the fifteen
per cent list those paying ten on the seven and half
and the articles paying thryhve per cent are also to be
reduced Mr. Gait says the reductions in the tariff
equal to the new taxes to be imposed.
The following circular is from the Cleveland and
Toledo Railroad Company
tn To BoypHoLpERs .EssE
The almost unexpected degree OF favor with which
our issue Of sinking fund mortgage bonds has been
ccved induces call the attention of bondholders
the advantages Afforded by the arrangement for
verng the various issues Of bonds into Glass; under
one comprehensive mortgage
In 1855 an Of three and half millions, in
thousand dollar bonds. nayable at the Corn Exchange
Bank, New York; bearing interest At per cent payable
sem-annuay At the same place, was made under new
mortgage the entire property Of the company sink
ing fund Of per cent being pledged for their redemp
in 1856 None Of these bonds have been sold they
being designed exclusively for the conversion OF the
various classes into class Of mortgage bonds. Ex
changes continually going and great is the
demand for good per cent first mortgage bond with
about twenty years run, that these bonds
selling in market for % cents the dollar and
few Offering thai price, with fair prospect Of their
reaching par. Already have converted about
81, 400, 900 of the whole issue, and the Sinking
Fund Commissioners have in their hands over
600 OF securities towards the ultimate H.
quotation Of these bonds; and the prospect now
that before any very large proportion Of bonded
debt natures shall have issued those bonds return
bonds Superior to any class issued except the N
and c. r. X. first and second mortgage, due in 1863
about $500 900 in amount Being better known, they
saleabe the security Is ahoad Of all others
with the above exception, in value; there Ia registry
provided for them, which protects the holder in case
they are stolen from him, although, has been
the sometimes, In known instance least the
number may be altered by chemical process prevent
Identification. To improve the amount Of mortgage
curity, tersforeto procure more saoable bond to
get bond capable Of registry to pass only by
dorsement OF the owner like certificate OF stockour
bondhoders will do well to bring in the old bonds and
change may effected the banking house Of vermye
Co., No. "A Wall street, New York. At the company
Office in Cleveland when the old bonds presented in
Of 81 900. The registry In at Cleveland Bonds
may be sent to Cleveland and returnodby sxpressK by
United States express the expense OF the company
II. G. LUCE, Treasurer OF c. and I. r. r. Co.
CLEVELAND, Ohio May 1861