The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-09-01

Il will be perceived that there has been falling OF Of
several per cent in United States skies sinss July soh
and that they par than they have been
for long time This has been caused by the fears Of
further depreciation in the market value of government
stock by further issue. 1t anticipated that the gov
eminent will be compelled to direct loan of
large amount The treasury notes will answer a very
good purpose but doubts entertained Of the posi-
biy of getting more than ten millions into circulation
An issue of these notes to that will have very
favorable effect upon the money markets. and enable the
government in the event Of Congress authorizing a
direct loan to raise money upon Of stock much
and much cheaper than it could under existing
circumstances
But very small amount Of the issue of Treasury notes
authorised has yet been put into circulation and tn
money markets have therefore realised the relief an
ticpaed These issues have been put cut at nominal
rate of interest and there is very little doubt but that
the whole ten millions with udicious management
be put into circulation upon equally favorable terms
This will insure their circulation through the channels
OF commerce, and add much to the currency of the
country.
meeting of the shareholders in the st. Lawrence
and Atlantic RAILROAD Company, held at Montreal
few days since when report presented from the
Board of Directors appears that l4lO shares of the
companys stock have been subscribed condtionay
on the works being Immediately commenced.
The present position Of the Companys subsc rption
list 1894 shares held in Canada, 900 subscribed on
of future contracts for work the road about
$50 subscribed in England by scrpholders there and
1888 held by scrpholders in Great Britain giving
of 1897 shares. OF this numberthe Directors regard
available for the immediate prosecution Of the work.
1894 shares held in Canada, $50 subscribed England
$50 of those subscribed of future contracts
making a total of 1894 shares, or EGGS 200.
The shares held by scrpholders in England tho Di
do feel warranted in taking account of
their available means inasmuch these parties
evc themselves of future liability by forfeiture of their
first nsalment
At the last meeting of propretor the Directors
ted the result of the appeal to the public then
suggested being ascerained they would be prepared
recommend either the immediate winding up Of the
dertaking its energetic prosecution and they say
that it is their duty, in laying the foregoing state
ment of affairs before the proprietors give their
decided opinion, that it expedent once to enter
upon the construction of portion of the railroad
ing it, however the propretors to instruct them def
nitively thereon
On this point the Directors remark that
of the English scrpholders they have ample means to
construct from 50 to 60 miles of the railroad that this
portion Of the road would in their opinion be produc
tive in ITSELF and would enable the Directors to obtain
sufficient means to complete the work to Sherbrooke
point about 80 miles from the boundary line which,
commence
in the now awakened feeling in Montreal and the ad-
joining districts believe that the additional amount
required complete this great work. will be eventually
subscribed.
With reference to the expenditure upon the railroad,
should the propetors resolve to proceed the Directors
propose to the works at the st. Lawrence,
and complete the sections to the Richeieu River
and thence to St. Hyacnth, possible. Imme.
dately the completion of the 6rst both Of these
sections the road should be opened to the public.
In recommending the proprstors to resolve
mencing the work. with capital at present insufficient
for its completion, the Directors have been, to certain
guided in their decision by the known fact that
of all the railroads in successful operations in New
England, not corporation commenced with their full
capital subscribed, and in the of the railroads
in progress of construction from Portland Boston, and
New York. the Directors have to believe that
the proportion of capital subscribed is much within tie
sum which this corporation has at its disposal.