, 1863-04-15
FINANCIAL AND COMMERCIAL.
THE HONEY MARKET.

/ TUESDAY EVENING. April II, 1861
| The late NEWS from Charleston not having con-
! 6sntd the disastrous reports Of JesterdaJ, Gold
| showed dropping tendency today. III New ao'k
it optred at cG;-a fall Of X compared with the
I closing quotations yesterday. An hour later It
dront to 5515 and finally closed weak st the aset
bosrd at 54H-a fill OF AZ. Our own dealers were
unwilling to pay much o7cr 80, although perhaps
5sI53 ould be considered the proper quotation.
Old Demand Notes rame IS gold. Silver is worth
$3.50, according to size. The Cold market yester-
day and today has demonstrated pretty surely that
IT tsympathizcs pretty deeply with the reverse to
orerccces Of our arms. CoEld our army succeed
in capturing Charleston or Vicksbure, or gain
decided advantage on the Rappahannock or at
Hurffst sboEo, gold mould doubtless reach deep
er Gcpth Than at any previous time for the p,st
four or five months. LIT uB pray that It may be 50
st tic Second Board Gold mas little drmer.
and advanced to s54.
Exchange still rcnnlns close at parGn1s buv;pe.
and hG4 premium selling. Indiana State B,nl,
Eo'cs are worth per cent premium, with yerv
little adoat.
Currency Is sathtr easier, hut there IL vct m
eu'plus. In very few days the banks will md az.
tive employment tor I'LL they can possibly command
that is as soon is understood that the Straits
are free from icy distractions.
MICHIGAN SOUTHERN R.11RoAp-The animal
report Of the Southern Michigan Road Ina been
published It shows that during the yesr cu,;ng
Feb Is, 1863, the gross earnings Of the roaa
amounted to 1915, ,s314o. The operating expenscz
were s. ,35at55.61; and the net earnings !, ,4s,,-
275.'9. The proportion OF operating expenses to
earnings was isK per cent. The increase OF earu.
nge over last year Was $5:3 3d. TO- Of this amount
s1e1 ,721t3was for gain on passenger, and sas3.-
C63.34 on freight cnrnings. These earnings hayc
elahled the Company to substantially cstingu,sh
the floating debt, 10 make up the to
the sinking fund.- to reimburse the trustee Tor thu
sinking fund bonds In the amount of deficit for
an over lEEuc made prior to 1870, to materially re-
dnse The tnnded debt, and TO make much needed
additions to the equipment OF the road. The hal
ante Of hoating debt including coupons rcportcl
last as fundabs into bonds, and also including
recently ssceIsa,ncd @ ed and adjusted old liabilitics
sinking fund.- together with the currcit years con.
t1ihntisn, consumed ss7s o0 Of the earnings The
expenditures M s9f org M grn n elevator and 1a new cars
ttnds contributed during the past year the com
missoners Of the sinking fund now hold $65o.0O0
he Contribution M 10 the eose Of tbe aea1 nskes rea1
the first time thc contribution Las been full III |
many ycarR.
The overdue first mortgage bonds outstanding
last year, have been, with very small exception.
converted into Sinking Fund bonds. Other bonds
which fell due have been paid of. The report says
that there is 10 accumulated earnings on hand for
dividend, and That tie question Of dividend ia |
one Of future, and net Of past earnings
Since urlast auuual report. the suits then pend |
lEg lctwec. tlis Company and the Corn E5chunra !!
Bark have been settled terms that Insured Ia
tlie Con pGy all it had clamed in the controversy
Turing the pGtt year several suits hare been |!
brought against the Company By Elisha e. Itch. /
tt!d. His alleged claims arc OF mixed character.
:1nonItn. in the aggregate to aconefdeEIb1c sum
Among these claims arc charges for commissions !
far iEdo sing psper Of the Company, and other com
pe1:sstiohe ior pretended sctriccs.
Tie Company has defended these suits and ia I
Prosecuting counter claims againet him. The com.
Fic2ttd character Of these claims promises pro-
tsaetcl litigation, This Company ia 1iny refused |
to acknowledge Its 1nbilty on an alleged old rnar
antee Of $2d0UGO Of bonds OF the CINCINNATI. feru
aid Ch!caso Railroad Company, several p1rties
holding these honds haso Instituted suits against
ibis Company 70 test the question Of its liability.
No deeision has yet been reached in any OF these
cascs. We confident that our Company Is not
legally nor eqnitab1y liable OH this claim.
The funded debt is s., SO, ,o7s 50, showing a de-
c1easc Of $a23 G29.1s. The floating debt is sst5,-
V4o-76, Of which $14o218 is fo7 payroll Of Febru
ary. Tic available cssh assets aro S2S?, q.
near1y so ffh1 nnnrn thay ftn <Ic7,t