days to the month, making 150 days) the interest on which, found in the second column (months) is $17 44 2; then turn to figures 13, opposite to which in the first column (days) is $1 51 2, together $18 95 4, say $18 95, 4 mills being less than half a cent are thrown aside.

Example of the second mode. Wanted the interest on $596, for 1 year 7 months and 14 days. Turn to the table headed $596, and in the second column, (months,) opposite 19 (19 months being 1 year and 7 months,) will be found $66 05 7; then turn to the first column (days,) and opposite 14, is found $1 62 2, together $67 67 9, equal to $67 68, nine mills being more than half a cent, are reckoned one cent. These two examples explain the whole method, the only difference being in the amount to be sought for. and the time for which interest is to be charged.

Mr. Oates in his preface says, "in preparing these interest tables, the author has attemp ed to produce such as combine the two important requisites, simplicity and comprehensiveness, in a greater degree than has hitherto been attained," and in our opinion, after an examination of these tables, it will be conceded that he has been eminently successful.

These tables are extended so as to give the interest on any sum from $1 to $10,000, by the introduction of tables from $1,000 to $10,000 by thousands, which for easy reference, will be placed on the inside of each cover of the book.

VALUATION OF PROPERTY IN NEW YORK CITY.

We publish below a tabular statement of the "relative value of the real and personal estate in the city and county of New York, as assessed in 1848 and 1849," from the official records in the Controller's office. Five of the wards of the city and county show a decrease in valuation of $2,819,758 41, and thirteen wards an increase of $4,843,324 77; giving an increase, in all the wards of the city, of $2,033,566 36, in 1849, over the valuation of 1848. The total valuations, in each year, from 1845 to 1849. inclusive, has been as follows:

1815.

1816.

1847.

$239,995,517 $244,952,404 $247,152,303

Exhibiting an increase, in five years, of $16,221,476.

1848.
1819.
$254,192,027 $256,217,093

RELATIVE VALUE OF THE REAL AND PERSONAL ESTATE IN THE CITY AND COUNTY OF NEW YORK, AS ASSESSED IN 1848 AND 1849.

THE MERCHANTS' EXCHANGE BANK IN THE CITY OF NEW YORK. This bank was chartered in 1828, with a capital of $750,000, under the Safety Fund System, but did not go into operation, or commence business, until 1831. The original charter expired on the 1st of June, 1849; but the stockholders were prepared to meet this emergency, having organised under the Free Banking Law in January, 1849, when they opened their books, and in sixty days, $1,235,000 was subscribed; every dollar of the old stock being transferred to the books of the new association. The new institution, under the title of the "Merchants' Exchange Bank in the City of New York," went into operation on the 1st of June, 1849. The old bank has never failed to pay a dividend. For the first two or three years, it made a semi-annual dividend of 34 per cent, and for the last seven years, it has paid a semi-annual dividend of 4 per cent, or 8 per cent per annum. The first semi-annual dividend of the new association, payable early in January, 1850, will, we understand, amount to 4 per cent, and leave a surplus on hand of some $20,000 clear, besides the extra expenses incurred in fitting up the new banking-house. The building of the old bank has been taken down, and a new edifice erected on the site of the old, with the addition of another lot. The new bank is built in the most substantial manner, at an expense of $20,000. It is in the Grecian style of architecture, and is one of the most beautiful, safe, and convenient buildings designed for banking purposes to be found in New York. As we have no banking facilities, or favors to ask, we may be permitted, in this connection, to express our high appreciation of the characters of Messrs. James Van Nostrand, and William H. JOHNSON, the President and Cashier, who have filled their respective offices, the former for eight, and the latter for the last ten years, in such a manner as to command the respect of customers, and the confidence of the directors and stockholders. But the history, which we have briefly sketched, is the best comment upon the management of this bank.

MUTUAL BANK OF DEPOSIT AND DISCOUNT.

The plan proposed, or the suggestions made, in a former number of the Merchants' Magazine, by our correspondent "F. G. S.," for the establishment of a Mutual Bank for discount and deposit, it would seem, by the following extract from a private letter addressed to the editor, had attracted the attention of a number of gentlemen at Syracuse, in New York. We do not feel at liberty, however, to give the name of our correspondent; but his references in the city of New York, are among our most respectable merchants:

Extract from a private letter to the editor, dated Syracuse, Dec. 21, 1849.

"DEAR SIR-A preliminary meeting has been held to consider the subject of establishing a Mutual Bank for discount and deposit, in our city, at which a committee was appointed to draw up a plan for such an institution, to report at an adjourned meeting, and as a member of that committee, I would say that we need more information on the subject, as to its details; and if you, or any of your correspondents, can send me anything that will aid in forming the details of a bank based upon the general principles of the article signed F. G. S., in your November number, you will confer a great favor upon the committee, an aid, as I believe, a most excellent cause."

THE NATIONAL BANK AT VIENNA, AUSTRIA.

The Journal des Debats, contains a letter from Vienna, dated October 31st, 1849, giving the following account of the National Bank of Austria :

The Bank of Austria has eleven branch establishments, one at Prague, others at Brunn, Buda, Gratz, &c. The object of these branch banks is to exchange bills for bills, bills for cash, or cash for bills, and to reimburse the bills of the central bank drawn on them, and to draw on the Bank of Vienna. None of the branch establishments discount bills of exchange, except that of Prague, where the discount is 4 per cent; there is a discount bank also at Brunn, but it is regulated by a commercial committee, and has its funds supplied by the head establishment. The Bank of Vienna, like that of France, is influenced by passing events; in periods of crisis it has with the authorization of the government, opened temporary credits to the great commercial establishments of the country, and thereby saved them from ruin. The greatest act of importance performed by the bank has, however, been to assist the government itself, during the late political shocks, and to have enabled it, in spite of the enormous military expenditure, to avoid the necessity of levying extraordinary taxes, and to wait for the most favorable moment to contract a loan. The debt of the State to the bank, comprising the floating debt, is large, but the new loan, as well as a part of the Sardinian indemnity, are to be devoted to diminish that obligation. As the revenues of the monarchy will augment by the regular division of the taxes, and as the expenses of the army will necessarily decrease, the government will be enabled to pay off the remaining portion of the debt, and thus the bank will again return to its ordinary modes of business, and render that assistance to the public which it did before the events of 1848."

TAX ON THE PROFITS OF BANKS IN OHIO.

A question of some importance to the revenue of the State came up for decision at a recent term of the Common Pleas Court in Ohio.

This question arose upon the 6th section of the Banking Act of 1845-which provides that each banking company shall, semi-annually, on the day designated for declaring its dividend, "set off to the State 6 per cent on the profits, deducting therefrom the expenses and ascertained losses of the company for the six months next preceding, which sum or amount, so set off, shall be in lieu of all taxes to which such company would otherwise be subject." Some of the banks so construed this section as to consider the 6 per cent so payable to the State, as a part of the expenses, and to be deducted from the semi-annual profits, and set off to the State 6 per cent on the residuum of profits after such deduction. To settle this question, a suit was brought by the State against the Franklin Branch in Cincinnati, one of the banks claiming to deduct the 6 per cent as expenses. The court held that this 6 per cent payable to the State was not to be considered as a part of the expenses of the bank, but rather as a part or share of the dividend of profits, and gave judgment for the State accordingly.

BRITISH FEES IN BANKRUPTCY.

Under the new English Bankruptcy Act, in lieu of fees, payment is to be made by stamp duty. On every petition for adjudication of bankruptcy, or for arrangement between any debtor and his creditors, under the superintendence and control of the court, or for certificate of arrangement by deed, £10 duty. Every declaration of insolvency, 2s. 6d.; every summons of trader debtor, 2s. 6d.; every admission or deposition of trader debtor, 2s. 6d. ; every bond, with sureties, 2s. 6d.; every application for search for petition or other proceeding, (except search for the appointment of any sitting or meeting, 1s. The stamp duty on allocations by any officer of the court for any costs, charges, or disbursements, varying from 1s. 6d. to £5. The Commissioners of Inland Revenue are to carry out the act with respect to stamp duties in lieu of fees, and to appoint persons for the sale and distribution, and to make allowances with regard to the same.

CHRISTOPHER BULLEN, THE RICH BANKER.

Christopher Bullen, of the banking firm of Leyland, Bullen & Co., recently died at his residence, near Liverpool. Mr. Bullen was probably one of the wealthiest men in Europe, for he has, it is confidently stated, by the English Journalists, left behind him

cash to the amount of £5,000,000 or £7,000,000. Although so very rich, he was parsimonious to an extreme degree. He resided in the house of his uncle, Mr. Leyland, the founder of the bank; but although a comparatively small mansion, he occupied only two or three apartments, and allowed the remainder to fall into decay-so much so, that the parlors and drawing-rooms were tenanted by sparrows, swallows, and bats, the unglazed windows affording them free ingress and egress. He saw no company, courted no society, and indulged only in one taste-the purchase of pictures. His paintings are numerous, but he never hung them up, never exposed them, and they now remain as they did during his life-time, piled up with their faces turned to the wall. For several years his health had been bad, and some time ago he paid a visit to Malta, Smyrna, &c., and returned greatly improved in constitution, but the expense distressed him, and it was only by threat of legal proceedings, thas he was induced to pay the physician who accompanied him £700. Some time ago, a merchant in difficulties, was lamenting to him the state of his finances, when he observed, “You are happier much happier than I am; you have got no money, but you have got good health. I have plenty of money, but I have bad health; I wish I could exchange with you."

RAILROAD, CANAL, AND STEAMBOAT STATISTICS.

CENTRAL RAILROAD OF GEORGIA.

In the Merchants' Magazine for April, 1849, (Vol. xx., pages 146, 147,) we gave a tabular statement of the places, distances, and rates of fare on this road, and also an abstract of the annual report of the Board of Directors of the "Central Railroad and Banking Company of Georgia," for the year ending December, 1848. The tables published in our abstract embraced an account of the number of passengers, and freight carried over the road in each month of the year, as compared with the previous year, (1847.) From the report of W. M. Wadley, the Superintendent, now before us, we are enabled to give a statistical view of the business of the road for the year ending December 1st, 1849. From this report, it appears that the earnings of the road for 1849 have been......

The total expenses, same time....

Leaving a balance, as nett profits, of.......

$668,383 91

337,628 87

$330,755 04

Showing an increase in the gross receipts of the road, over 1848, of $152,131. The following table shows a comparison of the various branches of business for the year just closed, with the previous one:

The following table exhibits the number of passengers, and also the number of bales of cotton transported over the road in each month of the year, from December 1st, 1848, to December 1st, 1849: