Phenix Gazette

The Albany Argus of Friday, contains the annual report of the Comptroller on the funds and finances of the State. The Comptroller recommends the imposition of a State tax of one mill on the dollar of the valuation of the real and personal estate.

The Canal Commissioners in their annual report, state that neither the Cayuga and Seneca, nor the Owego canal, will give a revenue equal to the interest on their cost and the expense on their repairs. The deficit in the funds of the former is $9,697.50; and in the latter $22,491.65. Besides the expenses of ordinary repairs, there will be due in the course of the present year for damages on the two Canals, about $15,000. In regard to the proposed Chenango canal, the Commissioners report that an adequate supply of water may be procured for the summit level, that the cost of the Canal will exceed one million of dollars—but it will not produce an amount of tolls that will be equal to the interest of its cost and the expense of repairs or superintendence, of either of them.