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For the following copy of a paper received at the Department of State, from J. G. FLUGEL, Esq., United States Consul at Leipsic, the editor is iodebted to the Consular Bureau, at Washington. The information it contains will be interesting to readers of the Merchants' Magazine :
AN ACCOUNT SHOWING THE PROPORTION OF THE REVENUES OF THE GERMAN CUSTOMS UNION RAISED IN THE DIFFERENT STATES RESPECTIVELY, IN THE YEAR
1861, AND THE DISTRIBUTION THEREOF ACCORDING TO POPULATION. ---COMPILED FROM THE OFFICIAL "CENTRALBLATT DER ABGABEN," ETC., BERLIN, 1852.TRANSMITTED TO THE DEPARTMENT OF STATE, WASHINGTON, BY J. G. FLUGEL, UNITED STATES CONSUL, LEIPSIC. CAPITAL AND DIVIDENDS OF BANKS IN PHILADELPHIA. The addexed table of capital, par and market value of stock, per cent and amount of dividends of certain banks in Philadelphia is derived from the Ledger :
REVENUES OF THE GERMAN CUSTOMS UNION IN 1861.
'I 'ON-IIAXX "TOA
Balance due to or from the
State has had.
Export and Import, export,
22,545,687 20,005,240 * Less
a The thaler, 69 cents American currency. Frankfort is regulated by a speciác arrangement, and not by population. « A special payment by Prussia, on account of the Union.
Per Market Per Amount
$1,150,000 100.00 $140 00 $57,500 Farmers' and Mechanics'.
1,250,000 50.00 70 00 7 87,500 Girard.
1,250,000 12.50 12 75 3 37,500 Commercial
1,000,000 50.00 59 00 4 40,000 Mechanics
800,00 20.00 29 00 6 48,000 Western
500,000 50.00 64 00 5 25.000 Northern Liberties.. 350,000 35.00 55 00
17,500 Manufacturers and Mecbanics'. 300,000 25.00 27 50 4 12,000 Southwark ... 250,000 50.00 70 00
12,500 Kensington.. 250,000 50.00 63 00
12,500 Bank of Commerce..
250,000 50.00 67 00 5 12,500 P. Township...
150,000 50.00 52 00 3 4,500
$378,250 The above amount of dividends on the same amount of capital is $13,000 more than was declared by the same banks at the semi-annual period in November, 1851, and $4,000 less than in May, one year ago. It will be seen that the dividends average a trifle less than 5 per cent for the half year.
THE PENNSYLVANIA LOAN BILL. We publish below, for the benefit of our European as well as American capitalists, who refer to the pages of the Merchants Magazine, the act of the Legislature of Pernsylvania, passed May 3d, and approved May 4th, 1852, autborizing a loan of five millions of dollars, and the issue of the bonds of the Commonwealth for the same. The acts passed by Pennsylvania are justly denominated “Omnibus Bills," as they frequently embrace a great variety of distinct subjects. The present act, for instance, commences with section 101, all the sections preceding it relating to topics of a totally different nature, and not having the remotest bearing upon the Loan Bill. We do hope that the great State of Pennsylvania, which has redeemed its public credit, will follow the example of New York, and otber States in the Union, by devoting one bill to one object, or in other words, by abolishing a disgraceful system of " log rolling?—
PASSED MAY 3D, AND APPROVED MAY 4TH, 1852. Section 103. That the Governor and State Treasurer be and they are hereby authorized and empowered to borrow, on the faith of the Commonwealth, during the year one thonsand eight bundred and fifty-two, at such times and in such amounts as they may deem best for the interest of the State, any sum not exceeding five millions of dollars, and issue bonds of the Commonwealth for the same, bearing a rate of interest not exceeding 5 per cent per annum, payable semi-annually; which bonds shall not be subject to taxation for any purpose whatever, and shall be reimbursable in twenty-five years from their date; and the sum so borrowed shall be applied to the payment of the 6 per cent loans that are payable at the option of the Commonwealth after the years one thousand eight hundred and forty-six and forty-seven, to the cancellation of the certificates issued to domestic creditors and the outstanding and unclaimed interest certificates, in the manner bereinafter provided. And the balance of said five millions shall be applied to the extinguishment of any of the 5 per cent bonds of the State now outstanding and for no other purpose.
Sec. 102. That the bonds for said loan shall be issued in sunis of either one thousand, five thousand, or ten thousand dollars each, with coupons or interest certificates attached in sums equal in amount to the semi-annual interest thereon; which certificales shall be redeemable in gold and silver, or an equivalent, en ihe first days of February and August in each and every year, at such place as may be designated by the Governor and State Treasurer ; and said officers shall procure the engravings for such bonds and certificates, and cause the same to be signed and countersigned as hereinafter directed, and take such other steps as may be necessary to carry out the true intent and meaning of this act. And the Governor is hereby authorized to draw warrants on the State Treasurer for such sume as may be necessary to pay the proper expenses incident to the negotiation of such loan, and said warrants shall be paid out of any moneys in the treasury.
Seo. 103. 'I'hat the State Treasurer shall advertise for at least two months in one newspaper in Boston, one in New York, and one in Philadelphia, and one paper in London, ope in Amsterdam, and one in Paris, in Europe, inviting sealed proposals for loan herein authorized, or any parts thereof; which proposals shall state the price intended to be paid in gold and silver, or its equivalent, by the bidder for each thousands dollars of such loan; and at noon on the day appointed for that purpose the State Treasurer and Auditor General, in the presence of the Governor and Secretary of the Commonwealth, and of such other persons as may attend, shall proceed to open said proposals and allot the loan to the highest and best bidder or bidders, whereupon bonds shall be issued to the person or persons entitled to said loan as hereinbefore provided, which bonds or certificates of loan shall be signed by the Governor and countersigned by the State Treasurer and Auditor General, and the State Treasurer shall sign or auihorize said coupons or certificates of interest to be signed; Provided, That in making proposals for the loan authorized by this act, the holder or holders of any of the boods of the Commonwealth of certificates for interest, and the holders of domestic creditor certificates, shall be authorized to bid for any part of said loan to the full amount of such certificate or certificates, together with the unpaid interest thereon; Provided also, That at the time of making proposals for the said load, application may be made for any part thereof, at an interest of 4 per cent, or a less rate, upon condition that the loan shall be for a greater period, and not exceed thirty-five years, exempt from taxation, with the interest thereon payable semi-annually, the Governor is hereby authorized and empowered to eutertain and carry into effect such proposition, should he deem it advisable for the best interest of the Commonwealth ; Provided further, that the notice to be issued in Europe for proposals shall precede the notice in this country at least one month.
Sec. 104. That immediately after the negotiations of the loans herein provided for, the State Treasurer shall give notice in one newspaper in Boston, one in New York, and one in Philadelphia, to the holders of all certificates of loan then due, and to the holders of certificates issued to domestic creditors, to present the same at his office at Harrisburg, or at such place as he may designate in Philadelphia, for final payment; and in case such holders shall refuse or neglect to surrender the certificates aforesaid, the interest thereon shall cease to be paid by the State within sixty days of the time of payment fixed in such notice; Provided, That it shall be lawful for the Governor and State Treasurer, in addition to gold and silver, to receive at par, in payment for the loan herein authorized, any of the bonds of the State, domestic creditor certificates, and the certificates issued for unpaid interest; the certificates of loan paid and cancelled under the provisions of this act, after having been copied into a book to be kept in the office of the State Treasurer for that purpose, shall be destroyed by the State Treasurer and Auditor General, in the presence of the Governor and Secretary of the Commonwealth.
Sec. 105. That when the loan provided in this act shall have been negotiated, and the indebtedness cancelled as aforesaid, it shall be the daty of the State Treasurer to ascertain as near as possible the aggregate amount of interest saved to the CommonWealth by the provisions of this act, as compared with the interest now paid, deducting all contingent expenses; and shall, at the time of making the then next semi-annual payment of interest, and semi-annually thereafter, pay over to the Commissioners of the Sinking Funil a sum equal to the amount so saved; and all premiums which may be received under the provisions af this act, and all unclaimed balances, if any, shall be also paid over to the Commissioners of the Sinking Fund, to be applied to the cancellation of the public debt, in the same manner that all other receipts to that fund are applied.
Sec. 106. That the Governor and State Treasurer be and they are hereby authorized and empowered to issue certificates of loan in the manner and form provided for in the foregoing section of this act, reimbursable at a period not exceeding thirty-five years from their date, to any and all of such holders of the 5 per cent loan of the Commonwealth as may signify their willingness to receive new certificates of loan, bearing an interest of 4 per cent or a less rate per annum, exempted from taxation, with coupons or interest certificates attached, payable semi-annually in gold and silver; and they shall further have the right to give the necessary notice and take euch other steps as may be proper to accomplish the true intent and meaning of this sec. tion; and it shall be the duty of State Treasurer to communicate to the next Legislature a detailed statement of the proceedings under this act, showing the bids received for the loan, the names of the parties making such bids, and such other matters as may be deemed interesting and useful; Provided, That the certificates of loan authorized by an act "to provide for the immediate completion of the North Branch extension of the Pennsylvania Canal," approved the second day of April, in the year one thousand eight hundred and fifty-two, shall not be subject to taxation for any purpose whatever; and it shall be the duty of the Governor to cause coupons to be attached to said certificates in the same manner and form as those required to be attached to the bonds to be issued under the provisions of this act; And provided, That no bids below par shall be entertained for any of said loans; And provided further, That proposals for the loan to complete the North Branch Canal shall be forthwith published for at least thirty days in one newspaper iu Philadelphia, one in New York, and one in Boston.
COST OF LEGISLATION IN MASSACHUSETTS. The legislature of Massachusetts meets annually on the 1st Wednesday in January. The Senate is composed of forty members, and the House of some four hundred. The pay of members is two dollars per day, and traveling expenses. The Governor receives a salary of $2,500, and is chosen annually.
The Commonwealth furnishes the following statement of the expenses of the Legislature for the last two sessions that is, for the sessions of 1851 and 1852. The session for 1851 commenced January 1st, and ended May 26. The session for 1852 commenced January 7th, and closed May 24th.
EXPENSES OF SESSION OF 1852. Senate ...
$11,672 00 House of Representatives.
114,126 00 Clerks ..
4,550 00 Messengers, door-keepers, &c.
3,265 50 Chaplains and election sermon
250 00 Resolves in favor of sick members.
EXPENSES OF SESSION OF 1851,
$12,158 00 118,124 00 4,804 00
250 00 712 20
Pay of Council, old board..
Total, 1851 ....
RECEIPTS OF BULLION, ETC., AT PANAMA, ON ENGLISH ACCOUNT. The annexed statement exhibits the amount of specie and bullion received at Panama by the British Consul from California and Mexico, and from Peru and Chili, for each month in each of the past two years :
1851. California Peru and California Peru and and Mexico. Chili.
$137,254 $747,861 $773,662 $591,109 February
212,769 578,803 610,280 616,618 March
228,189 611,530 310,377 963,547 April. 268.992 695,005 525,806
619,860 May 317,601 572,716 109,727
828,224 June 412,992 739,479 368,460
844,000 Joly 402,439 728,994 245,165
570,674 440,207 415,191 772,931 September..
401,596 582,100 512,334 869,528 October.. 414,392 699,826 503,735
780,837 November. 495,126 797,333 542,603
764,098 756,090 661,089 792,398
$4,616,722 $7,849,944 $5,578,420 $9,080,565 Total amount received at Panama, as above, in 1850....
$12,466,666 Total amount received at Panama, as above, in 1851.
14,658,995 Total in two years.
$27,125,661 A portion of this went to England direct from Chagres, and the balance by way of New York. Of the above aggregate, $10,195,142 was from California and Mexico. Since, soon after the first discovery of gold in California, several large English banking houses have had agents in San Francisco and in the mining regions, buying up gold dust, and shipping it to London. A large amount of dust has been drawn from California in the way of Commerce, in payment for cargoes of merchandise sent out direct from English ports.
SALE OF INDIANA CENTRAL RAILWAY BONDS. The bids for the two hundred thousand dollars of the 7 per cent convertible bonds of the Indiana Central Railway Company were opened at the office of Winslow, Lanier & Co., New York, in June, 1852. There were bids for $535,000, more than $500,000 of which were at over 90 per cent. The $200,000 offered were awarded at prices varying from 95-10-100 to 97-72-100, making an average sale at 95-53-100 per cent, which is the best price yet obtained for a Western Railway loan. The successful bids were as follows: Average netg.
Average net'g. $4,000....at 97.72 $3,918 80 5,000..... 95.55 4,777 50 5.000.. 96.75
4,837 50 34,000... 95.52 32,470 80 5,000 96.56 4,828 00 4,000... 95.51
3,820 40 5,000. 96.85 4,667 00 5,000... 95.50
4,775 00 2,000. 95.92 1,918 40 5,000.. 95.35
4,767 50 1,000. 95.91 959 10 10,000.. 95.31
9,531 00 5,000. 95.86 4,793 00 9,000. 95.30
8,577 00 7,000. 95.81
9,526 00 6,000. 95.80
4,790 00 21,000. 95.25 20,002 50 5,000. 95.75 4,787 50 5,000. 95.15
4,757 50 5,000. 95.67
4,783 50 8,000..... 95.10 7,608 00 20,000. 95.65 19.130 00
15,000..... 95.56 14,334 00' $200,000....at 95.53 $191,062 70 The successful bidders for the bonds were Clark, Dodge & Co., Norwich Savings Institution, Cliatou Gilbert, Charles S. Francis, W. & J. O'Brien, Mervin & Gould, Do Coppatt & Co., Jobo Ferguson, Peter McMartin, John Thompson, A. Wylie, jr., C. T. Cromwell, Thomas McKenzie, and Chubb Brothers.