The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-05-06


business viii be drawn to the Harlem railroad Lake
Mahopac, "a watering place within few miles OF
the railroad depot at Somers Is rapidly becoming a
avoric during the summer months for our cit
that travel will be source Of income to some
extent to the company. Our estimate Of tho gross
income Harlem railroad company for the year si7
is two hundred and fifty thousand dollars (s250Oo0D of
which running expenses repairs and interest on
debt will Sl50Ooo leaving for construction ac-
count one hundred thousand dollars
In the face of these fair and favorable estimates the
stock of this company selling at fifty cents the dol
lar and would not surprise to down TO
and forty 1t IL impossible to tell what effect upon
the market value Of this any other stock operations
in Wall street may have but they have no influence
the actual value of the stock holders for invest
ment, should pay very little attention to them. The
election of the Harlem Railroad Company takes place
the 18th inst and tho stockholders must bear in mind
that nothing but first rate board Of directors Is roqui
red to make this road of the most productive in the
country Within the past years under tho admins
ratons Of the last two presidents the road has pro-
crossed rapidly than for the previous seven years
and tho stockholders indebted to them for the fayo
rabe condition Of the company at this moment
Railroad stocks viii soon be the fayorte mode for in
vestng money in this country. An immense amount of
capital is annually absorbed in the construction and i'm
provement of these important works, and we have
presented by will be greater than any other
Investment in the country not excepting Govern
ment, State bank stock The increased receipts of
the lines fully and partially completed represent an in
ofvauc of railroad stocks Of at least Ave millions
Of dollars within the past year About hun
dred and fifty millions Of dollars invested in
railroads in this country, at this moment; and roads
in a of construction requiring fifty millions of
dollars to conplete.
Most of our railroads must continue to pay good diy
dends but there which have and we are
afraid never will and others which have paid dividends
but have discontinued, and fearful may never re-
sumo We sorry to say that there some railroads
SO unayoraby located that there is very little proba
blity Of their receipts being sufficient give the
stockholders the smallest dividend their Investments
lhe roads to which we refer pleted and have
not any prospect of increased business by extension
There are other roads, among which is tho Hudson
river road, that pay dividend upon the cost
OF construction The stock of roads must depre
cate and fall into other hands and third or fourth par
ties may realize fair dividends upon the depreciation The
original stockholders cannot but be very
The Reading Railroad Company propose issuing bonds
payable In ten or fifteen years. at seventy per cent for
two million of dollars for the purpose of liqudating
It's floating debt that the net proceeds of the
road can be appropriated to the payment of the
bonds due in 1850. This accounts for the rapid
advance, within the. past few days, in the market
value Of these. bonds The company have precedent
for such operation in the act of the Legislature Of
Pennsylvania Of April 1916, but it appears to be very
bad policy to pay such bonus 1t would be much better
to let the floating debt stand as it is
Eastern railroads are improving rapidly Old Colony
Railroad stock has touched par after weeks of dc.
preston; and the Maine has recovered from its lowest
quotations. to nearly per cent advance consequence
OF increased receipts since January ls extent forty
per cent over the corresponding term Of last year
Central and Cheshire Railroad stocks have also i'm
proved in price, with assured feeling in their
holders that eventually their profits will make par a
cheap rate for such Investments. The Sullivan Rail
road first assessment of $40 per share has been called
for before May 25th and its subscribers are conf
dent of good results from its working year shall
pass
The returns from the city banks struggling in
We annex the reports of those received since last
rubli