New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1867-06-04


ss. ae iT the the week week ending JH s t. Sa
The Auditor of the State of Virginia believes that
ihe arrangements for the payment of the interest
the State debt regularly and punctuay efectual
he states that the public debt the 18th Of April,
aS61 at on 08 So from which he deducts 81, 2S5.
us 81 that being the amount to be extnguished by
the sale of the States interest in the several railroad
companies named, for State bonds at par. He also
deducts $2OOOOOO, the amount of the sinking fund
which is invested in State bonds These deductions
leave the amount of the public debt, shown by
the Auditor, S21, SOL $40 81 The act of Assembly
passed at the late session provides for the payment
of interest the debt at the rate of four per cent per
aHnem Upon the reduced debt at this rate the inter
est win amount to ss6766S 1G. Adding TO this the
sum necessary for the operation of the State govern
rent Legislature, salaries, &C. say 100000, and
the annual liabilities amount TO $l3G7663 16. The
tax bill makes an assessment of so cents the 500
value of property; and it is estimated that this,
with the license taxes, will produce annual reve-
nue. of over 81 OO0 from this deduct the annual
liabilities 81 367 663 49, and we have at least 1852 1886
81, as annual surplus to form sinking fund for
the gradual extinguishment Of the entire debt Pro
vided that existing laws are not changed, and pro-
vded the States interest in the several railroads
named is disposed of now directed by law. After
the State debt is reduced to 69579 81 in the man
In other railroads and in the James River and Kama
yha Canal, interests whose par value is slG,G67,-
Bsl IS, besides large and valuable interests in
other public properties 1t should seem, therefore,
that the conclusion Of the Auditors correct and that
there indeed nothing to be foreseen to induce
the supposton that the interest on the public debt
Of tho State will not be regularly and punctually
paid" The payment of the July interest that por
ton of the pubic debt payable in Europe will GER
family be punctua is understood that the Treas
urer has already arranged to remit sterling within
few days for that purpose 1t only remains for West
Virginia td0cOme forward and arrange for two per
cent Of the interest the public debt and onethird
of the prncipal-or such exact part a settlement
may indcatetO place the creditors Of the Old Do
1ninion in full enjoyment of all their rights.
The Toledo, Wabash and Western road Is now
corporation, representing S2oOOO0OO
Bonds 3,3e0c0
Preferred s steek 10000
The road is $40 miles long, and runs from Toledo
cut to Quincy. Illinois, and Keokuk, Iowa, with
branch to Naples, Illinois.
It's earnings in 1856 were. So 1889
It's expenses in 1856 were 2Sil'l9S
Net income. .s9OO.2oO
The directors estimate that the loss of the wheat
orop along the line last year decreased the traffic
100000, at least
Of traffic upon the road compared with past years has
been marked and encouraging. The coal ana lumber
nToInSe no become one Of the most permanent and pro
ductive OF our current revenues me prospects
are especially 70 he the largest ever harvested
upon line and Of superior quality remains stun IN the
hands Of the producers stored at our stations awaiting
uniformly thick and heavy, and gives unusual promise Of
an abundant harvest
The Treasury Department has stopped buying the
August 7SO notes, and now purchase only the second
and third series The funding OF the August series
is proceeding rapidly that few viii be outstanding
ct maturity.
A letter from Macon, Ga, dated May q, says:
The cry from all quarters Is good crop prospect
though many planters after having worked oyer the
freedmen became wanderers and the mules turned to
grass while for the planter and his immediate family
1TeS QUIET except IN the wake o. wilson and
Kelley. The freedmen working better than last year
and oil want Is 10 be admitted to representation
and then let alone.
The Chicago Republican says:
The losses on grain during the past few months have
Hazardous that bankers are IN s 70 make sdya8ces
even on respectable margins unless The parties good
offered and although business Is light the trade is in
Tonpiy and there bot Little Effort gG eSg made to
procure extensions. The weather to-day dry clear
passed away This VIII be improved by the farmers in
the Northwest, who now busy finishing their
Our duNlcte WIN i'b3lo wheat, ana
al the small grain Spring crops arc OF the most encourage
ing nature and the prospect IA that viii have large
crops Of all kinds Of small grain. Tho complaining Is
late int should the weather from this date continue
favorable, have 70 doubt that the crop will
be large ana Of good quality In some sections where
drainage is imperfect aud tie lands are low, many fields
may have 20 be replaBted but there II not too
late to raise DOunti crops The -four market was life
less and 10 Is impossible 70 give any ustNOrthy quota
tons.
The same paper Of Saturday says:
The weather today clear aud dry, and there
more hopeful feeng among az classes In commercial and
mercantile circles The chief anxiety present is with
regard TO the future crop; bnt nearly al parties
agreed that with far weather from this date, there