The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1845-10-04

The bank has declared semi annual dividend =
three and hafper cent dsductiDs ID in the pound for
the payment Of the income tax. After the payment Of
'he dividend there would be le of El6se3 to be
uoso 10 the rest The rest the 3st Of August was
.',oee,ss1' from which the dividend, amounting to
@'ssoos' and the property tax amounting to Tl4so4
ma 70 oe deducted. This shows the bank to be In
very sound condition. Notwithstanding the low rate
mas been able to declare very fair dividend
me oooks OF subscription TO the stock Of the Oswego
ana syracuse Railroad Company will be opened for
subscription to the balance Of the stock $50 400 an
Saturday and Monday the 4th and 9th of Octobsr ~
Towards Hotel The capital stock Of the company n
$3.50 0oo of which 5000 600 have been subscribed The
line of road will be thirty miles long and il Ia esti
mated that it be built for $4,000 per mile which
If not exceeded, will make it the cheapest road in the
country. Our capitalists and business deeply
interested in the completion Of this road and Is highly
necessary that the stock should be secured in this city
and not let the books be opened in Boston This road
will Offset any attempt to draw the western trade from
this city by the ogdensburg and Champain Railroad ;
and will give railroad communication from tide
water to the Lakes of only 100 miles, instead Of about
400 miles, the present distance Oswego is rapidly in
creasing its commerce, and a Lake port will very
soon rank among the largest avoraby located nearly
at the head Of Lake navigation it command very
large part OF the carrying trade of the Lakes partcu
larry after railroad connection is made with SYRIA
and the line of western railroads The reduced
cost of the road must make good mt for the
capital expended.
There perhaps, never a movement rather too spe-
culatve must confess in its character-within the
commercial history Of Great Britain whichwas thing
like SO general the present movement in railways.
Capitalists OF every denomination and members Of nearly
every class of people in the United Kingdom, are en-
gagged these speculations and their only prospect OF
rests in the speedy completion OF the projects
they have taken hand. This excitement is not
fined to Great Britain but has spread over the whole
continent and is rapidly spreading over this country.
The immense capital already invested in railroads in
Great Britain and the anxiety TO increase the invest
rapidly is looked upon by the alarmist as the
most positive evidence OF panic in the money market
and in commercial affairs generally. Panics or rsvul
sions in the whole commercial system Of any country
have not been brought about by the reverses which
have overtaken may overake any particular trade or
class of in the country When any single branch Of
business becomes inflated and speculation ranges very
high that alone there very little danger Of general
panic in the market, general break down In the
commercial community OF all species OF speculations
we look upon the railroad speculation being the mos
beneficial the country at large, and attended with
less danger to the mercantile classes than any other 1t
absorbs capital thereby restricting and checking other
roads draw the of the country and deve.
lope the elements Of trade rapidly than any other
thing Our object is to prevent speculation as much
possible in the articles of trade and commerce. and
long as we keep things in their proper channels
so long the supply desired governed principally by
the wants for consumption there is very little DANCE
Of the currency becoming expanded or prices inflated
So long as the currency continues contracted and the
operations of the banks confined to proper limit very
lauo ~
trade become much deranged; and do not look upon
railway speculations as being hKey 10 produce any OIL
these evils.
During period of the extensive speculation this
country ever experienced the people of New England
invested millions dollars in railroads. and dis
posed believe that it was the drain Of capital from
many Of those who became at that time interested IN
these works. that prevented the various speculative
of the day from spreading the ruin and desc
laton section which fell upon every other portion
The large investments in the roads then in
state Of completion contracted the resources OF those
interested and prevented their engaging in the specula
tive bubbles of the day, which soon after exploded
leaving but a wreck behind The railroad speculation
of that period looked upon the snail in the fable
the moral Of which has however, been fully exeml H.
fed The railroad speculation of the present day will
without doubt be even beneficial in its effects than
the last it has become general and operate
as greater check upon any expansion in commercial
,airs The immense cost Of the railroads Of Great Br
tain has required much greater expenditure in proper
ion the length Of road constructed than in this
try II will hardly be credited that two roads, leading
the centre of London, in length only three and
thgee-quarer miles, cost about Si 600 900 The Lon
don and Blackwell, 81 0so and the London and
Greenwich 81 ,026,l0, over Sl,500,0oo per mile.
These roads constructed at this enormous expense
enter city having population only about five times
larger than that of this CITY, and pay handsome dividends
while New York has q railroad running the entire
length the island, about nine miles long and costing
for the whole line than mile of the London
and Blackwell railway that has never yet paid div
dend The railroads throughout Great Britain cost
about three times much per mile as those Of this
country, and kept in running operation at nearly
three times the expense, notwithstanding which they
nav better average rate OF dividend than those of the
United States.
We annex list of contemplated railways in France,
with statement of the capital they will respectively Ie-
uuire and the interest is calculated they Will respec
lively nav to their shareholders
CONTEMPLATED Railways ~ FRANCE.
CAPITAL Interest.
The Northern line to the Belgian - -. .c ,<s
H., 70 ,rJ s,Lrsncb-