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New York Daily Times Newspaper Archive: June 27, 1855 - Page 1

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   New York Daily-Times (Newspaper) - June 27, 1855, New York, New York                                I. Jftitwa, June SammoT Under Hosiery of errary description, and at lowest price, will te tomd tt CLB sTfcJTD IfO. 1M 10WTRT. Special attention li Invited tt this season to CFIITB. UnDBK-VEBTS, Introduced at OUT establishment wrveral yoaraj and -which hart been nnlTeraaJly approved for ttelr UihtneM, elactlelty, durability and cheapness. A. Ri.HKin 4 Co.. No. 104 Bowery. COLUMBIA COLLEGE. The concluding oiatnina- lioo of ibe classes In College will begin on Monday ant, Id July, and lul until Tuesday, 10th July. They are held In the College Chapel, and we have the autho- rity of the President for laying (bat It will be gratify- tef the Faculty of the College to find theae tkru by partteaj Interested In snob aubjeeti. will (bond In the advertisement Annual will take place at Ntn- Wednesday, Ilia July. HOLLOWAY'S OINTMENT AND Wfcole eivtUted world have as with, one voice endorsed to of wonderful as being the only avra remedy for any old wound, ulcer, sore leg or sore Inaal, even when all other means have been tried In Tain. Sold at tne manufactories, 80 Maiden-lane and 344 Strand, London, and by all at 25 eenta, ttlf and per box or pot. GAB, da. ARCHEH WARNER  nLjilanntu n na to the condition of llie Road. lie MI id 1 have mi intarcst, whatsoever, in any of the s-eciuil'es or ttock of Ibis it would be proper I should in a fuw words Htale the manner in which I be- came acquainted With Ifie affairs of the Company. I went to Ohio In company with Mr. UKINKHT and Rome gentlemen lhat were interested, to atlond tho an- num election and lo acquire such Intelligence as to the condition uf the Flood as we could hi the few weeks we were to be en the ground. Since that lime. In May, I spent between two or three weeks in Snnduaky us on aibitrutor between Ibis Company and the prmy to whom this Road was leaded from these sources I have had occnaloii to examine tbe Road, the track ,lbc structure, gleaned all tho intelligence that I have. AM arbitrator, I iho lixturcH, the equipments and I had occasion to look with FOUIL care, nt its gRiiaral condition, nuil in the win- ter 1 in atie Gome examination of the hooks. I was re- quested to attend this meeting under tbe idea thai lu? lligence that I thus got be of service. I find that this Road originally consisted of tlirti tilioned before.) forming a Y at the north- ern ttiminue. Tlie. Northern or Mnncfltld and Sanduxky Road was relaid In !Si2, und in Fchru Ih32. the Road, ON of the Sandusky and imd KBiidUMky und Newark, was leased for three yearn, Ihe entire Road having then been relaid with heavy rail. It eerms that at the time that tin; lease, was made, the Cnnipnm hnd n (lu.tlinp; debt which WUH HUH oil lo have Lei'ii In ttie ariicl'.-s liy which they agreed lo llie Company agreed lo do certain fur- ther works of construction, such as certain ouiinrr lions to be nude at the Southern Icriniiius, ind di pot to bebmll. It was also stipulated thai three gentle- men should muke oxBinlimtton of the road anil rnske n stall menl of HH condition and iti neciHSiticH, und Company was to mike these expenditures as reported. Thccc gcnllerm n estimated wanta to the. amount of COO, und tho Road thereupon, with tlicHeemiditionM, went into the handn of luc Irsnce, who in February, IHj1.1, commenred lo vurk. Since that iitno. considerable of Iho work agreed uj.on Iiaa been done, but no sufficient provision for the iloaiine debt eecmsto have been nude, so that it 1ms been a burden oti Iho Road tn the present lime That (act, together with the Interest which wan regultily paid to December, but fince remains annulled, have rendered tlie net results of the Road Insufficient or juet barely MilTldciit lo pay interest on bonds, but on account of the Increasing floating debt, and lac strln policy of the money mttrVel during the last year, the proceeds of the Road have teen appropriated to present necessities, and the amount of the floating debt still in- creasing, finally in the Autumn the Company broke down, finding U out of their power to renew their pa- per or lo keep up their credit. Tho great dUTlcully seems to me to anie from ihe InrgcnthB of ihe capital, which in marc ilia tha road IN worth, and from thai nnd tho f-ict of tho flailing dubt have arUen the embnr.ir.amcnts of the company. It ia impossible to eoncwo a concern more complica- ted than thla Is in Its present conditions-consisting orig- inally of these three companies each with twa seta of bonds, then consolidated and in that abapc having anoth- er set of bondsland a large floating debt, due and overdue, In all Bbapca In which money can be from the amount ofboiik accommodation to tho articles of nup- jjlies, amounts of money duo looporaltvcuand II tile debts duo ell along the line of tho Road, with everybody wanllng lo make attachment for bis debt on all and eve- rything that seems to belong to the so embar- rassed Is it that It seems hardly Impossible ihal II can go on. Process has been commenced in Ohio for the purpose of foreclosure and sate on Sandusky and Mansfield Road, and It seems lhat like action will be taken on tho other roads. My Impression Is tbat the Road Is worth and will pay tbe Interest on the sum In the najfhborbood of two and Q talf of dojjarf loat Icing with, its present ba wilhorjl calculation for of 1 must saj U Is, however, nmlelpsird will fol low In from the Botuhern connections. I taken Into account nothing from thai source li aprx-arx that In 11-52 Ihe famiiipg of Ibe Company amounted lo COO. In '53 the sum of und In '54 the sum of It should be connecllun with Ihnt atatement, that there been for two ypurs nn nlrnosl total failure-of the crop or wbeat, wrilrb Is a large Item of 111 In 1862. From Ibis source wan received In'1853 onjy showirtu an Increase of earnings from ollirr bul a decrease In this article ofirannporiBlion wlitlr In I'-il, Of only wan received from ttiii fourec, altbnufth tho full receipts were largely nn the Increaio. Now, laktnc a series of yearn, I suppose th'i Road must earn to from La local buaineas and Us nei profit, llie management being' rathir economical; 60 per cent, of the grou equal lo or per cenl. on irtneeipeetallon of Ihe frtt-nds oflhe Roail be rcallred, Hieae earnings will, be'mneh larger. As to the Road Itself, a nonlon of (hn Improvp.mmti that were provided for havebcon made, but only a modcraln portion they appear lo have been more orouslr enlortd into during the lasi season, bnl a good deal of IhcBO have been laid as though cut off by this failure Ons large llein In these Improvements was for bridges the Improvement pro- posed was to fill up an embankmant on eaeb side of the river crossings, and then to put a bridge across these places. One or two of these have boon completed t wo or 111 re e have thereto approximated, while some ara jest commenced but Ihe most of those not nalilied are In a defective condition. They cannot be called safe for any length of lime ihey may be made lo lam, wuh camion, for one or Iwo bul good economy   with a dcbl of the IIrM mortgage there can be no ucuer railroad nocnnty in tho counlry. A GEHT., No. whal slate is the machjnery' Mr. good; with ordinary repairs it would last for tan years, or. Indeed, for any time Mr AniJAii MAMN, Jr., of New-Vork, asked how the receipts had beendlnpostd of Afttr soniu remarks from nevcr.il gentlemen, Mr. CAMP, ChrUrman of Ihe Committee, explained, that ihe receipts had bt'encrpsndol on connlrucllon ac- count and in Ihe regularpayinenlofintcresl, which had been dnlj mel up to last December The Company Btrupplrd aloDg as long an poasiMe jn hope. Mr. IIu.NTEn, of Ohio, cillcd on Mr. I'unny, Vice Freiudcnl, lo explain. Mr. PUHDV, of Ohio, stated that he hid carefully ei- amined Ihe accounts of the Company, under HIP impres- mon lhat something WUH wrong therein, but be had pleasure in staling thai he bad loimd all were faults ofmsnagcmenl in the conduct of ihe depart- ment, bul no deficiencies or shortromingn. Mr. HUNTER then ppiAool the necessity of a new organization, a matter which he considered, and which is conceded to be an essential. Mr. ABIJAII MiNH, Jr then presented llie following resolution 1 hat pfopotilion of the Committee of the Unoctors for the rtWIjuitmonl of Uio of tlio Com hnreftrrecl Ituhn Trutlren of boiidhoHort of iho three net B of bonds tecuicd by and tlmt llifsnieut- thtmln tnke tfan Kanif inio conMtlernlion, piopun a mtlurcd plnn fo-Ihe aail future of tlio allmni and hrwinreaof thu BAirl Cum pany, and rejioit lo an niljounjed met ling Sumo canvcrRatlonal diacuRslun then ensued on mil- ters of no public Import, after which Ihe was submitted and carried, nn amendment in lake the sense oflhe meeting on the rccominimdalion of ihe Committee being lent. The following gentlemen were then appointed as ihe Committee Messrs. Slnli-, Dthon, Lane, Ketdiam, nnd James Jessup. Thpineetiiig then adjourned. The ainouni r, fr-r from tilt enmmenrimrnt of nnvif inon to il.p Of (n 41 Sami period n 1-11 M Dcrrraur In Cleveland and 1'lllHburg Road. From thi Wtlisvtlie Ohio J'alrwt. Junt 1'J (OAL TRADE WITH THE LAKES. Thr merefismg nrtivily ilaily perceptible in the trufllc over thin road, Is well calculated to im- part increased conlidencc to holders of -Slock, an a per- manent investment In fart, we know of no ra'lroud iim'Hirnrm, nl the low figures ruling for its m-runnon, that oiTtrN surb iiiduninciiln lo r.ipnalist'i art the Nlock or 1st and 2d Mortgage lltMids of the Cleveland and IMthl.urp Rnllroid Company. The prospccl of a bountiful harvest, up lo the present time, wns never more encouraging A large crop of ce- renlflwlll give- the trunk roids at Ihe WVm, a larger amount of business than at any formerpcnoj, andfiom incrcneed earnings, fiirniHh the means for relieving many companies from financial difficulties. Our own one ofilns class nnd notwithstanding HH finanres, last y-ar. were NO cilppled UH to make it nucensary to almndon, for a lime, Ihe completion of both of the lower extensions, It possesses, according lo our view, natu- ral advantagesTiupcrlor lo anyroad of Its length wcat of the AlleRhanicB It is from Coal slope it has liie op- portunity lo double Itn whole earnings, as compared with thOHc of last year. The lower end of the rand, or Ihnt part running from point of intersection with the Ohio and Pennsylvania Wetlsville, toe present ter- minus on llie Ohio River, pusses through n fine, agricultural valley, rich In coal, iron ore, fire clay, lime- stone and ball springs, possessing at the name lime eve ry ollirr elernenl to sustain a large population Tlnoend of ihe road, uoill quite recently, when com- pared with the upper suction from Alliance 10 Cleie- land, tiHH been Tenanted with indifference as also ihe very mitral that will ultimately prove ihe of ite slock from its present ruinous low price We feel safe in our asserllon. ibal in lisi than tir'> yrars ils capncity for from caul alone, will more than double the north Jme from cvi-ry other source provided the Company are willing and have thv ability to lurniHh first, suitable wharf privilege! al Cleve- land .Second, n sufficient number of and motive. power to tnke awny the coal loaded dally upon the dif- ferent coal turn outs7' To Illustrate the truth ol our prediction in regard to Iho coal iraflic over thr mad, we navo only to go inlo a brief calculation of llie pro- ductive capacity ef each coal interest on Yellow Creek, and to exhibit iho mimtnvm quantity that cnn be dally delivered into the cars, arcordlnp to estimates frnm each parly in by 1st or July next e will commence by assuming a daily average euppjy T n. Trcan AVcllsMlk, (1'itt-Lurg and Trcm Mouth Yellow rrek, Uiamnnd.) 300 From lliiininondHvillf, (liniiimond'iville nnil New- York and Ohio Campari) 'JJQ From felcubenvillc Road, (Illinois I onipauy, and Hiley tV Co.) 270 From Snlinevillf, Total, dully Total. 000 The Itc .ylit on this ijuantity of Coal woulrt, nccunliiii; tothcpiiMnt tanfl. union nl lo IM> (j? innro ihun ihe loin) fron> nil sourras, for the Jiar ol lt-5-1 nnd uf, lliesi- coiiijianiei rontinue lo enlarge I hi ir woiic, tlie cjunntny of Coil that con lie mined will inrri RHcd It only requires, an ample supply of codl rarn, nnd room in CIcvdHiul for sloragt, to devtlope the true interewl of Ihe Road II has long ainre bren predicted that Ihe rncani for tinriHpoitntion of Cuul nvir the road would fall far short of the actual wants of the aereral Coal interests, and we dully bear complaints that this fenr n already During llie pail iHOnth much inconvenience has been felt, nnd at limes not mjrr linn onc'-liall of the cars required for itio Coul mined, could be furnished along Ihe line ol tho dilrvrunt workd. Ample prnvinlons for accommodating C'OR! firjgliling liuHlncBs alionlJ bi made hy the construction of cars, enlargiou ihe mo- tive poucr of Ihe roa.l, and providing a apace at (Cleve- land, no Dint cjcii Coil inlcrinl can have sccornnrada- tioosto trnload. or ship Its Coal. If it IN mam- f( ht that even half at I tic Coal our llgur. H repn BBMI can bcfumiHlied Ibe road for transportation, the interests of Ihe Stockholders and landholders reijulre Immedi- ate attention to this important suliject, lor it m appa- rent Ibal this very Coal Iraflic, when fully understood and properly fostered1, will make nueh lo tbc IrroBury ol Ihu Company us lo enable n to Itu nediatcjy lo finish Ihe Deavtr and oilenslons. 1 lie Yellow Creek Coal Fields, together nllh those the TuHcarawaii Valley, and tlio Coil freights si'nt over the road from Pitlsburgand Cnmbertand, ax soon as tbe road can furnish tlie means for transportation and a suitable place to deposit it at Cleveland, can send lo the Lake Coal enough to produce an Income lo the road of per annum for the next live yeirs. These ea- tiiiialen aio the result ol careful inquiry, and would no doubt be increased rather than diminished. These are important farts for Ihe conalderatlonjir the Stockhold- ers, and to ihe holders uf the fact, they should immediately step forward and aid m iho completion of the river extensions. _ Canal From jAr Albany Evening Journal, June Sr3. TLe amount received for tolls on all the New- York Slate Canals daring the third week in Jane, Btme period In 18M..................... 101.1M 43 IIT Tole-grnph. O'-wroo, Tucuday, Jnne 56 Fr.orn Mils. WHEAT 5230 buah la COBN, buOirln The market for FL'ODB. is urchanprd, with a limln it liusinrns at previous rales WitiAT SiilM lo dsy. tfrtll Kpper nn' prHatr tenna. Sales, 12 IKK) bmlipi, al  Weot aahnre El 11 lock P M on II, e Hull on {-writ ude of llBhrtjrafc )tlrrw iVck liiBil afi 1 ftflpr Kcbr Wm hnulh 6 JP roiloo Bnd C0[ JUT IM i InMcCrpnilT MottkCo Echl Jlr ifiKjrt, 6 iln wuli fruit lo fl tilt 10 ruder MHIU.H H irti-ukf n It- tMfftr lo II 1! Fchr Wilinuiirlftii. wilh civa1 ptareK In Unllnrr h I'ollcr tilir IV Sitnili Siiirni i vmnni'i wiih rotton, tc te Mr C, Mult t Co Bchr UCDJICII, fc'clniK'irl, with floui If C H Pit ruin Schr Jiinup Smith Kiirinan. 4 dt willi coltiro, mil ricp I" Mi H L t'o Echl G I.ilfl, I.IIH: Uiillmiiirp Kehr P. (Ur JolnroL rnrnnallir N S 7 ds j (itatmi. li> H 1> V.. Il Slir J M Hn-inn.ril.KnMu-.il Pixilnni] Conn ,wilh ntncw. Schr Kra, Diisiini nun li> E. k It. llnnri Mir Knipftnr I'etrrmn Turin 1. irfnnia, with wiud .Vhr W M KnMi-i Bakfi.ChiM.Jli.iin Umlfi lir ftlelTinri. lluldnn, 1'Mnidi-nrr tnr Virnnia. EJwrucI Amlir-v tan Srl.r llin. I'ln .uli Ijilna. M itli roi .Sclir Mi'jiro liirl Plultuli ITI'IM coal for New-HatfB. S 'o Vwrmia 3 difi, p rn ,vlir M jiy Hi, H.ii PIT I'll i.idrlplun, willi eoml fnr Now Kliiiii1 i of I. n, ,ln.ill-l I' It willi Mir l to H W t rrnrli June 21, ei- IXMH mill n lii jtuli- 1 1 n i K S ipln flfing jib Sdir ah (C. 1 nnli Hut nii.l n Jioni o 'u r 'IIIP l Jidin-on Charlo- If r, mlh (illi r In Ji hn Hlli i SAll V.I) liar. I in. Hirrr- V, fNU fcui.r tt S 'iinn t BT Junr 'J1 Ne D'lruiP bulk H iT7c I r JDQ. P II llaiet tin, Wipniti.llc. Aui AIM AmrllK. Fl UhPi liarV Cuba, br.ff Krte, Am AMiv W m MJE 'nnlpii Arr r.l Si 'l lionjw 1'lih l. I-niKlj lia'fttia km) fid Hit II.T YorV M If [or 1 41 il 1. n I J brinT IPT Hun I' 'In of am plmnnT (i IK 1 ir arr t] -it 'Millie Hrnnm, TI i- -'i -i (l.i W clon I. w il'i.n In, Cijt T'I'III il.VpCliil KIJ thit port lo-day, le- [u rt .lunr'. l IM I' ion Ti' "fi d I) IB with a boat fiu Khr. L hullrnci w Jt ckf f r.iul the Cap! Wm C. MI.MIJIL muti ai. 4 mn. i. t i V lln.ni on UiirdaiKi bniufbl tjieni l4  nclir CliallPinr. uf Pltinou.li, Mauiaa. maater ilA fin lldsum on t) 'jlli u il a cargii nl lumber and pun IIKII.I. iKiurs] In Jeii-inii1, Si axd on Ihe 13 Ih iii't !M! 17 luu (S iii-iKjuull Iroru N W cabnieJ- S( i' iiirin ijaivi.ll) ijlili.ln.! Capt M mall and cr< iemniic.1 rn the fur 10 J.ITH, a tint waUr, fall n.i ciri in r< 111 i i aw a -hip when we took onr lx.al mire put) il in Loaiilmc hf blie jjrtu cd to Ihe iulo, Toi.t limn, Ini Pruam fm New York k mil) rn I-IM il mi tmurd M li fl lui itewaid oo in a iliiiij Hale TI i- nin.rs them ware C' lumnr. (1 Y E.ihrilrr, mail J'eler Kllnu, E HhDKin huknt Jonrr, Kinnn W  1C. nn Baniiun.an. :n( W.IIiam. i I biink-allwrll June 19. lat 17, Ion 02 30, ilup CoUfiJ' Porlit- ninuth, Ixiuui.1 K June (Hi Illf nunhrrn of tl-r III tat, from Hnl.lB Ini 1 -.11 n June lal 3i. Ion IS (Jullalu, lur Liverpool. i i-nDK N E. lal 37 in, Inn 72 .V, btuf S.ilompin Eaton, of and cm Poitland for lUint-fit ackr Weloome Belurn, from Calali fui ForrlKD ForU. AlC'iiricoa Jone 10 bark hence for New oik June 20 brijr Henri for Boiron in IQdari At PaJmn Grand Canary. Ma; 11, bnn John OotUaburr. for New York in 7 At Et BarUjQBel2, tcbr. MoantaU Bafln, Bobbins, for Hew -York in fonr Al Palermo. We. I Africa, May M, Oen Pierce, Hall, from At Gaboon May li, bmrk ble da Cuba, Milter; ach. uirton. Pendleton, for krtoBluftaa. It Bermuda lore IT, achr O M Robinaon At March 8, ihip Dantel Sharp, for tft Ifi fyui vr dajB-   

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