Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1845-10-09
RAILROAD MOVEMENTS, &c.


VERMONT CENrRAL.-It will be seen by our ad-
vertisng columns that contracts for grading por-
tons or the whole of the route are to be let on the
5th November The Canada Gazette contains a
notice Of an application TO the next Provincial Par
lament for charter to construct a road from ST.
Johns TO the Province line at or near Mssisquoi
Bay, to connect with a road through Vermont to
Boston. On the Goth ut the people of ST Adams
had a meeting, and appointed committee to con-
fer with the Directors of the Central road, in refer
enco to building to Canada line, to unite with road
from Montreal. We are glad to see the people of
that section Of the State arousing to take care of
their interests. This project is very important, not
only to them, but to Boston and Montreal.
! PoRrLAND AND MoNrREAI.--Thc goth of Aug
was the day to pay up Oh the shares of this stock
taken in England: $500 shares had been appropri-
ated to subscribers there, but up to Sept 9, only
$500 shares had been paid. cl25,O0O Of this stock
had been allotted to Canada, but Of this sum less
than 100000 had been taken. The Canada pa
pers arc still urging this stock with some spirit
New York AND ENE.-Ony Sl3O0CO was
wanted on the I'd instant to complete this stock 1t
is doubtless filed ere this Now the New Workers
are urged to complete the North Union lNcw-York
and Albany road Boston viii doubtless shoot
ahead with the Ogdensburg.
PAssuMrsIc.h meeting of the friends Of this
route was holden at Irasburgh on Tuesday Of last
week, and spirited speeches were made and some
subscriptions. The Yeoman's Record names as
shares, but there was some more. We are inform
ed that about throo-ourths of the stock required in
this State has been taken
CoNconD AND LfBANoN.-We learn that this
road has been located via Franklin, which is the
longest route surveyed.
The RAILROAD MANIA IN ENGLAND.-The fol-
lowing is from a letter to the Boston Atlas, dated
London, Sept. g. We look upon this crisis with
much interest If the rage for railroads abatcs
there, this country will probably feel the effect in
Il considerable reduction in the price of railroad
iron-a matter of some consequence SO long our
own manufacturers are unable to supply even one
tenth Of the quantity annually required. Its an
i'll wind that blows no good to somebody"
"Thc long predicted crisis in railway schemes
is beginning to trouble the spectators in Liverpool
and London. Several failures have recently occur
red amongst railway brokers', and many others, it |
IS anticipated, will occur soon. There has lone
been reckless gambling spirit manifested amongst
all classes; the call for payments OF shares must
cause pressure in the money market and propertv
must be sacrificed to meet many of these calls. -
The House OF Commons, some time ago printed
list of the names of persons holding railway stock
o the amount Of ten thousand pounds and upwards
md it was Immediately discovered that large num-
'er of these individuals were wholly unable to hold
| single share, and that many names were fictitious
The shares were taken on speculation obtained in
some instances by fraud, and held till favorable
opportunity came to transfer them at premium. --
Thus have stocks acquired an artificial value. and
he present holders will suffer the consequences of
heir wild speculations. Foty-four companies have
,een formed during the last year, involving CAPT
al of G35 $4,000; the number of shares is l,OsG,-
80 and the total value of premiums on these shares
Is quoted is t3559,000. Taking the old with the
lew companies, the total result of the railway spec
llations is follows twenty-scyen old companies,
orty-tour established within year, and ffiy-eight
new companies, making one hundred and twenty
line companies the capital required for the second
md third classes alone amounts to eighty-two mill
ons sterling. The rise of premium on the whole
amounts at present to almost sixteen millions ster-
ing. This enormous amount shows the extent of
ailway gambling within one year, and also how
emptng these new schemes arc to all classes. 1t
will be seen that crash must soon come, and then
extensive ruin and distress will follow