The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1844-05-24

s7l,oOs ss97a
Showing an increase of little than thirtythree
and onehird per cent The business OF this road ra
pidy improving and its stocks advancing in the market
very fast. The management is in good hands A differ
has existed for sometime past bsween the directors
OF the Western and the Worcester Roads, in relation to
the rate of tolls chageable the Western Road by tho
Worcester Company for the transportation OF passen-
gers and freight Application made, last winter,
to the Legislature of Massachusetts, to establish
tariff of prices, for the regulation of both companies
After the subject referred committee that body
1t was by the mutual consent OF the parties. laid be-
fore referees before whom the has been lately
gued by able counsel The petition presented the
Legislature and the referees appointed the basis Of
clause in the orr na charter Boston and Worcester
railroad which reserved to the Legislature discretion
airy power fix the toll to be paid for the of the road
any railroad entering the An interference of
this power requested by the directors Of the Western
railroad company stated before the referees by the
for the Western road that in 1885, before that
road opened the income of the Worcester road S2l2
000 ls43 it hal risen to 5000 900 that the Worcester
earned $500 per mile while the Western earned
but So TOO per mile that the Worcester for Al miles,
had drawn $3.50 600; and the Western for hundred
SIX but $270 900 that before the Western opened
the Worcester carried up hill 5000 TONS and brought
down 5000 tons four up for down that the West
| the Worcester carried up about $4,000 TONS and
brought down about the same quantity annually. The
counsel for the Worcester company stated that in 1885,
before the Western railroad opened the Boston and Wor
railroad earned six per cent and in ss earned but
six per cent its enlarged capital, with less surplus
than in 1888 ana by the natural growth Of business
would without the Western railroad, be earning
eight per cent and would have had occasion to
large its capital to the amount expended That the effect
h,d1
ofthe Boston and Worcester railroad from 2s 900 tons in
1885, $4,000 in is4s and compel the directors of
the latter company to reduce its charges upon local
freight from $50 per ton to average Of 81 780O per
tom because the people Of Worcester complained of the
low rates Springfield According the tables prepared
by the Boston and Worcester company the Western rail
road freight $4,000 tons producing $50 at
pense of OOO and yielding nett revenue Of 900
only while the local freight, 900 tons, produced
600 nett profit These the principal arguments
used by the opposing parties The decision OF the arba
favorable to the Western road than the
appear to warrant They fix the toll general merchan-
disc Sl00 per mile -four cents per Dbl and
first class passengers II cts per miethe Worcester Co.
to End passenger for their road The result will be
saving the Western railroad Of about per ton
$40 900 ninety Thousand tons Of freight the guam
y passing this year, and about $4,000 and pas
sengers maxim total saving of at least $34 900 annually
l
uence The stock Of both companies The doubt and
certainty that has long existed in relation the suhec
have had tendenc 70 keep down prices and to restrict
operations Although the saving of this large amount
annually will advance the value Of the stock of the
Western Road and sooner enable the company declare
dividend do believe it will operate tho injury
ofth Worcester Railroad The interests OF the
are in measure, identified Many that stockholders
in also stockholders in the other The two roads
CHI he in fpCt Ma 10 hrto
ton of the Worcester and eventually the roads must
become amalgamated. The immense expense and outlay
of capital attending the completion of the Western Road,
cannot receive remuneration present but the time
far distant when will do profitable business than
the Worcester.
The Canton Company OF Baltimore have declared q
dividend of one dollar per share. The company have
been able to do this from the receipts Of five hundred
shares Of forfeited stock the sale of which relieved them
from debt leaving sufficient surplus to allow making
small dividend We cannot agree with the directors Of
this company to the probable benefits arising from this
policy reduction Of capital, by Withdrawing all the
forfeited stock would have resulted to the greatest adva
age About eleven hundred shares of stock forfeit
ed and by selling much Of this stock would have
cleared off all the debts Of the company and Withdrawing
the balance from the MARKET the capital of the company
would be greatly reduced and the affairs placed bet
ter safer and more profitable foundation The rnng d.
vldend OF one per snare dmOunts uOtnHB
influence OF this dividend will be lost and the stoc
of the company very little benefited The payment Of
dollar per share evidently forced for purpose and
the stockholders may possibly End it hut small return
Tor the depreciation that must assuredly follow such
movements This stock Of the bubbles Of 1896
In the fall OF that year, Immediately after dividend of s1
dollars per share grand explosion took place when the
stock from 30 % per cent down to 10 H. has
been struggling up until about four months since
reached 40 ~ PER cent at which point it seemed fixed
until the late speculative fever broke out since which
has reached GA per cent and to initiate it still IT,
company declare the paltry dividend of dollar pc
share We fear the result of such movements and woul
advise those interested to be their guard and protec
themselves while the excitement still RACES We motto
movements made in several of these fancy stocks to &c
| up az great speculations before existed Tn
state of the money market and the adopted by III
banks favorable for these operations, and which
less checked, may spread the country, and carr
down hundreds to bankruptcy.
Old Stock Exchange.
ny a sA 100 S'h'' yaek'0'Fs bA tso
5000 Ohio 6's, 10 l00H IL Illinois Blk 81.
lOo0o do cod 10 IS 90 80
, Io An do