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1he TaScumbia Rait,cay.-The contracts for this work have been let to respectable and enterprisne gentlemen, at prices much below the most sangune expectations of the company The clearing and grading from this place to the Tennessee River a distance of one mile and five eights has been under taken by J. & J. Caruthers at about $1 300, mal- ing the cost of about $500 per mlle. The compa- ny are now able to make pretty correct estimate, and we assured that the whole cost for single track will not exceed s3,500, per mile. The worl, is now progressing. The ground was broke on "Wednesday last, amidst the roar of cannon, and in the presence of number of our citizens both from to.v and country, who atrenaeu w1rness com mencement of work which we doubt not will be extended through the Tennessee valley to some point above the Muscle shoals; and if we may naz- gard an opinion, it will be improvement of great CT utility than any hitherto undertaken in the western country.

 We understand that the company have ordered their iron from Liverpool; and if this article arrives in due time the work will be certainly completed within the present year. Thus the practicability and actual cost of this mode of improvement being fully tested all objections upon that ground will be removed; and if the next legislature should grant charter for the extension of the road through the val ley to some point above the shoals. we have no doubt but the wealthy and enterprisng citizens of north Alabama will readily subscribe for a sufficient amount of stock to complete the work.- 1nscumbia Advertiser, July 2d.