The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-03-05
RAILROADS OF NEW ENGLAND.
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Nearly every dollar of the S2 Gl3 900 rested in these
railroads is owned by the people of the Six Eastern
States Farmers mechanics day laborers, operatives in
manufactures in fact those following all pursuits who
have little money to spare, invest it, fast as accu
mulates in these railroads II estimated that the stock
of these companies is held by individuals than that
ofany other corporaed companies in the country This is
the secret OF their Capital is invested at the be-
ginning for permanentresting place It is entrusted to
individuals in whom the public have the implicit
confidence and is invariably the last fraction devo-
ted to the purpose for which ii appropriated Thou
sands and hundreds of thousands of dollars used
up in counsel fees, salaries and miscellaneous items In
New England three roads have been built for what it has
cost the Erie road of this State for commissions broker
age and counsel feee
At this moment, when there's much capital laying
idle, when money seeking good investments, wish
to call the attention Of of the above report
and to the condition Of the railroads that dverge from
this city, any Of which be made profitable and
productive as those in New England. At present
they dragging out sicky existence The difference
between the roads of the two sections of the country a
from the fact that those Of this neghborhood are got
up wholly for speculative purposes and to enable the
prime to make fortunes out of those who have
been creduous enough to place any confidence in the
operations of set of swindlng fnanciers There is
an immense amount of capital in this city, invested in
property that does not pay cent interest annually
There millions Of dollars in this city that would
gery seek investment in railroads running from this city
could directors and officers be found to control them pos
sessng the proby energy and perseverance Of those
who have successfully completed the magnificent roads
of the East Suspicion has been thoroughly reused by such
exposures the Erie road has produced and all the hal
finished roads will have to out their salvation
The movements Of money very curious and surpri
offer for subscription to any amount The most dan
gerous speculaons can find plenty of capital to go on
with Any thing producing evil instead of good, that
will ancipations of immediate and profitable
turns is sure to find the necessary facilities to carry ii
out.
The dull quiet, inactive state Of the Cotton market
compared to the excitement of few weeks since, pre-
sent ofhose great reactions that often in specu
atons The regular Of trade does not lead to such
extremes business that keeps pace with the demand
will always be healthy and profitable, long the de-
mand springs from the actual wants for consumption
All specnatons create fictitious wants. and the extent is
only limited by the ability to sustain the excitement The
late feeling in relation to cotton is conclusive evidence
this fact The greatest efforts made by keeping
back supplies up the Liverpool Market for
tunes could be made the rse without the risk of send
ing forward single bale. Reports unfavorable to the
81 influencing the market abroad and to raise the
~ feeling to create advnce To certain these
movements successful but the decided stand taken
by the Manchester spnnes and the adopted the
Bank of England have discouraged operators this side
and produced quite depression in this market The
crop of cotton WILL without doubt fall below that of last
year. but it will exceed the estimates made by many who
figures for different purpose than to arrive at
conclusions. The quantity in each bale Of cotton ncrea
every year. few years back the average number of
pounds in each bale did not go four hundred The
present average will vary much from five hundred and
fifty pounds, making difference in the quantity in the
number of bales, full one third Many bales
Of cotton made up far into the interior Of the cotton grow
ing sections contain hundred pounds. This to
freight down the rivers the boats charging by the
bale, without any regard to the quantity in it. The es
mates Of crop always made to the number Of bales
Fer instance
500, 900 bales, at 400 pounds per bale, would
amount to 100 600 900
and 800 900 bales at $50 !" 900 900 900
This shows that the actual yield this year does fall
far below that Of last appears by the estimates made
of the number OF bales the present crop will produce
The resolution introduced into the Hous,
Of Representatives, directing the committee of ways ant
to bring in bill to provide for the sale of the pub
lie works has been carried by a vote of AZ to 49,