The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-03-01

not being disehsYged the clsms Of our cspitslis will
become worthless snd the stockholders will be dsprv
% Of their interest In the work with little ceremony
as IN the Morris Canal, the State Of Massachusetts
sweeping the whole away In the construction Of the
roai the policy of that State has been consrmmated
The citizens of Boston, with their usual foresight and
intelligence own very little Of the stock ana have none
OF the debts; should bankruptcy therefore, take place.
the entire concern would be transferred without injury
or embarrassment, to its proper owners
In order to ascertain conclusively there Is any
probability OF such an unfortunate disposal of this road
is proper place before those both az stock
holders and bondhoders extracts from tho statements of
the company, for the purpose Of showing whether
II has the ability to sustain itself or not We
fear, however that the exposition will have other
effect than to prove to the capitalists and to the bu
siness men of this city, that speculatons in this,
and similar enterprise do not afford the slightest posi-
BILE inducement for Juch investments of their II
the mania for speculation cannot be controlled and
cannot conane ourselves to the Legitimate channels Of
trade should at least make effort to exercise
judgment and discrimination In the choice of such IN
vesments We should avoid all stocks of fancy cha
racter, and turn attention to those which
really productive.
The reported gross income of the Norwich & Wor-
ceser Railroad Company in s45, from road and boats
$23 64a and the estimated gross receipts for ls46
WHICH estAuhto IL IL statouI proved 70 uaV6
bsen overrated several thousands of dollars in
quence of the loss of the Atlantic but for the purpose of
showing the probable business of lsa7 and through
the future prospects Of the company have put down
the receipts at the svtims.s, 70, Il 10 yeax
EsawIcn WoRoERsrER RAiLs0AD.
lsl Estimated receipts. .$a..ooc
Expense of running road same as In 1916 $4,000
10 net loss by running steamers. $4,000
Interest on debt Of $l,iss,a57 $500 400 800
Balance in vor of company ls47 ss7 500
In order to meet several very urgent demands this
balance has not only already been expended but tho
company is making great efforts to raise further
of 500 O0O and have succeeded in making temporary
loans deposit Of their bonds, at fifty cents on the
dollar and in instances have sold their bonds at ton
per discount by which operation they add much
to the aggregate indebtedness
By taking this data in making estimates Of tho
nual business of the company up to tho year 1885, there
docs not appear to any possbi ity of making single
dividend, unless the credit of the company materially
improves and is able to extend its debts result abso
lutey necessary for the safety company leaving
individuals entirely out Of the question
Without taking into the account the necessity OF re-
placing the Atlantic at expense OF about to
keep up the income for lS4s. to estimate will
put down the gross receipts Of that year at amount
exceeding that of ls47 -
NORWICH WORCESTER RAILROAD.
ls4s-Eshmated income; .Sa6s,OOO
loss, on running steamers. .$206 500
Sinking fund, for extension road. 10000
Sinking fund, TO pay bonds for boats. 10000
Principal of debt annually to city Of
norwich, &c. ~. oOOoO ,oO0
Balance against the company. .. $4s, 500
1t must be admitted that the situation of the company