The New York herald., 1876-07-10
si2 Ooo have already asscntcd to the plan Of the

com mittec
Early action Is desirable, the committee would like
expression OF the intention Of the bondhocers be-
fore July Is.
MEMORANDA
In the twenty-five years since Juno 80, 1854, the
United States his exported, according 10 the Official
statistics OF foreign commerce, more than
ST. 100 600 900 in specie and above the quantities
imported. This result is said have been brought
about by the circumstance that debtor nation
and the balance Of has been against The true
however that have been large producers
of the precious metals, which have exported as COM
modities and for the last fourteen years, since the
adoption of paper currency, we have had no other
way Of getting rid OF metals except TO sell them
to foreigners for what they would bring.
The July dividends payable in Boston aggregate
$40 O20 ss7 OF which railroads pay 81, 6ss, 49, ana
manufacturing companies sass, 400 The record Of
manufacturing companies Of the poorest for many
years. and is remarkable both for the small pay ments
and the large number left altogether.
The committee appointed by the bondholders Of tho
New York and Boston Railroad Tor the purpose OF re-
organizing tho company have partially completed their
labor. Tho road will hereafter be known as the New
York. wcstchester and Putnam Railway The com
has decided TO issue 81 $50 900 OF first mortgage
bonds, this amount being amply sufficient to complete
the grading equip tho road Eleven OF the thirteen
directors have been selected, leaving the remaining
TWO vacancies to be dlled At future meeting.
There no developments IN the war between
the Eastern railroads. and no further reductions In
the through rates between Chicago and the East have
been made. The fight is principally carried on be-
tween the Erie ana New York Central railroads, and
reduced fares between local points the roads the
order the day. The from Buffalo to New York
has been reduced to S. ana tor the round trip between
the two points to 50.
The following a statement Of the gold, silver and
minor coins produced at the mints during the fiscal
year ending June 80, ls76:-Gold pieces, 1950,97s;
value S3s 234. .962 90; silver trade dollars 1871 $50
pieces; value, $5,s2l, O5O; subsidiary silver CONS
g. 394 $50 peccs value, $3327, l52 50; minor coins
- 627 0oO value s237, ,470 Total number Of pieces
So 7s3 91s; total value, S57, ,620,035.
The mastor mechanic OF tho Chicago, Darve and
vincennes Railroad has just completed detailed ex
animation of the entire rolling stock Of the Chicago
Burlington and Quincy Ralroad at the request of the
officers of that no who propose to restock it SO far
Is necessary to continue its first class condition.
The Reading Railroad Company semi
annual dividend Of three and half per cent upon its
preferred Stock payable the 18th OF July in cash to
holders they stand registered the books of the
company July l.
The following is a synopsis OF interesting paper
read at the last annual meeting of the American
Society of Civil Engneers-Washlngtonw was the first
civil engineer OF which tho speaker found record.
He gave attention to canals, and wnsafterward
commission for improving tho navigation Of the
Potomac. The year 1857 was date OF great
interest to the profession In that year John
Fitch a Philadephian, built the first steamboat,
and there liz every reason to believe that whom built
1t he was ignorant of Watts improvements He built
the rst propeller constructed in 1906 in 1903 he
built the first steamboat for carrying passengers and
in 1899 ran It ON the Delaware between Philadelphia
Burlington In 1904 Oliver Evans, of Philadelphia,
constructed the first machine for building docks-a
heavy, fiat bottom boat, with chain aud buckets to
clear out the mud 1t had wheels for land and
wheel to prope 1t In the water. II have been
the nrchctype OF stefnwheel boats At this time stage
coaches had not into In 1907 Robert Fulton
built his steamboat and in 1911 he and Mr. Stephenson
built a sternwhee boat at Pittsourg, with which
voyage was made to New Orleans in fourteen days.
This the first steamboat on Western waters
Among the early bridges the $40 feet span the
schuykill, built in 1912 and burned In 1899 In 1923
the Champlan Canal finished and several others
were In progress About this time the evidences of
progress in civil engineering began to multiply rail-
roads were first talked or and there fcw proph
csy what should result from their introduction. In
fact was authorltatvely stated that the Claim that
locomotives would some day travel twelve miles an
hour was bringing ridculo and the whole pro-
ject.
The first locomotive run in this country was built In
England and called the Lion The first built In
this country constructed on West street, New
York, In 1929. 1t a four wheeler, with upright
boiler, and built Tor the South Carolina road Bald
win commenced TO build engines in 1888 The first iron
railroad bridge consisted OF three spans nifty feet
long, for the Baltimore and Susquehanna Railroad
Company, 1s46, built by James Mulhoand Iron
suspension bridges previously used in 1796
Jacobs Creek. Virginia, built by Mr. Finley. Iron
bridges, however. did not come into general until
just before the civil war.
In lact in the short space Of a century American en-
cheering sprung from obscurity to be equal to
any the world. We have the longest bridges, with
the greatest span and deepest foundations, and the
only railway suspension bridge in the world the long
railways the best equipped and supplied with the
most comfortable convenicnccs.