Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1846-01-08
RAILRoAD1TIEs.

road neper 10 aoo their stock 10 be sold beloo par.
This is sound advice, and is applicable to every
road which is certain of good business when COM
pleted. One way to do it is, for the stockholders
to stick 10 their stock uqRinehingty through good
and through evil report is the stock selling below
par in Boston: never mind it is not sure test of
it's value Brokers have a trick of selling good
stock below par, and fancy stocks below their real
value, for the very purpose Of firing reduced mar
ket price on ,chich TO buyin Having accomplished
this, they next cry the stock up, and perhaps con-
trve sales really above the true value, thus fixing
high market price at which they sell the same
stock and pocket the profits. This is stock gam
bling; and it is practiced more or less upon every
railroad, especially long as it is in process of
construction and before its real value can be tested
by the actual proceeds of the road. With all the
excellent railroad stocks in New England, we be-
lievc there is not one or more than one which has
not been sold under par at times. When these
roads completed and began to earn their four,
six and ten per cent, heavy capitalists at once
bought in what stock they could at a handsome adj
vance. To such capitalists, stock which steadily
earns four per cent is worth an advance of ten per
cent. or more-and steady ten per cent. stock is
rated by some at an advance as high as fifty per
cent. Concord and Fitchburg stocks divide 10 per
cent, and now command an advance of from 30 to
81 per cent Some may be surprlzed that capital
ists payv1so large an advance above the per cent
which the stocks earn: the reasons are, that they
wish to make permanent Investments, and that stock
paying annually and forerer 4, 6 or 10 per cent, is
IL. Al, al,
which the purchasers pay but once AS it has been
with the Concord, Ftchburg, Nashua, and many
other roads, so it will be with every road which is
judiciously located where twill command business
upon which to prosper: through whatever vicissi-
tudes it may pass, it will emerge brightly-t will
prove itself to be intrnsically good and then the
milonaires of the cities will cast their longing
eyes upon the stock, and pay roundy for it if they
can't get it without. In such case it is the last
holders and the original subscribers who hold on
to their stock, who reap the harvest. Railroad
stocks Vermonters have not been familiar with
and we make these remarks to warn the uninitlated
against the tricks Of stock spectators. The stock
holders of the Central Road will be tried and sore
ly tempted, as stockholders in other roads have
large share of this stock was asked for by brokers,
but was wisely declined by the managers Of the
road OF course, they may commence operations
by purchasing what was refused by original sub
scrpton and this we presume they will do if they
cam 1t is their business to buy and sell to cry
down stocks, to buy-to cry up stocks, to sell,
o. Col. Reeds letter to the stockholders of the
Al Il,
axy, and copied in full by the Rutland Herald and
the Brandon Voice of Freedom. We are inclined to
think the readers of these papers may infer by this
time that the Central Road has been commenced
IN earnest.
CENTRAL RAI1RoAD.-The Winooski Turnpike,
from Montpelier to Burlington has been purchased
by the, Central Railroad Co. BY the charter, the
Company was obliged to pay for the Turnpike
This purchase il exoofit1,t bargain for the Rail
road Company, Qhe stock being first rateJ as wei
as satisfactory to the Turnpike Company
i 90 The Voice of Freedom is informed, thai to
put arguments into ones mouth which were never
urged, ard to confute them by assumptions unwar-
ranted by facts, is in our judgment species of
amusement more ridiculous than useful.
~ A writer in the Voice of Freedom says the
Rutland Road has seven or nine hundred thousand
dollars of stock 1--WE forget which sum- taken in
Boston. According to good means of information
in Boston, we believe that company has not more
than one tenth of this sum in bona iide subscrip-
tons in the city. This writer is equally ignorant or
equally wild in reference to the position of the Cen
trail Road, the amount of capital paid in &c. &c.
| TT / vi to 6 b.no
o. The Keene Sentinel gravely complains Of
us for attacking the Rutland Road, and assures Us
that if the Central folks will let Rutland alone the
latter will let the Central alone. AS to the COM
plant the attacks have come, in nine cases out OF
ten, from the friends of the Rutland Road and the
files of the papers in the Rutland interest will show
ten columns against the Central Road to every one
column which we have published in reply. Has
the Sentinel authority to offer peace on the terms
stated?
o. Some wag has started story that the work
on the Central Railroad near Windsor was suspen-
ded on Saturday night last. Undoubtedly it was,
but later advices assure us that the work was com.
mepced again on Monday morning. We trust
there will be a suspension every Saturday night
There is a rumor also that the Lebanon road has
been abandoned, but it needs confirmation.
o. In addition to the initials the author of the
following has given us his name for the benefit OF
all concerned. We have received a communca-
ton, in reply TO Col. Reeds letter, but as the au-
thor has not given his name the article is excluded
under the rule we have adopted and published in
relation 70 this discussion.
| 81. ' For the tSs;Uhmau and Journal.
CHRONICLES. CHAR.
|. Now it came to pass in the days of John, the
ruler, that the wise men of the Province gathered
themselves together at the Metropolis, to consult
for the good Of the people.
2. Then there arose certain men who said, let us
make a great thoroughfare for the good of all
this people; and they said, it shall be so.
l 3. Lei il commence at the grent Mnters ON the