The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-02-09


per cent premium. Th.re Is particular demand yet
for the steamer OF the 18th inst from Boston.
The following Ia the result of suit relative to
the foreclosure of cbatel mortgage the running ap
paratus Of the Harlem Railroad -
The Msehanies' Bank Us. The Harlem Railroad Com
by the railroad company, their locomotives 60
90 secure the payment OF $50 500, which In all due
having to take possession of the property and to
collect the mortgage on the ground that 1t was Tor the
interest OF the company, OF which he was director
aud as he believed for the interest of the creditors that
should not be enforced was ordered that ne
be such trustee that the sheriu proceeo
to execute the trust.
The Company have appealed which, If granted, COM
pss to give the sheriff security in twice the amount
S65 o0o) to await the Anal decision Should an appeal
be granted will only put OF the matter sxty days and
the issue might we'll be met now as then The truth
is this company embarrassed in It's finances that
It cannot struggle along much longer The above Is
only An item; there demands against the compa
ny, more than four months dus, for than
two hundred Thousand dollars, making, In the
aggregate, nearly three hundred thousand dollars
pressing for payment Without means, without credit
without any disposition or ability the part Of the
stockholders to raise funds how s it possible for thu
rosd to be kept in opsraton The president aud drec
tors have already involved themselves deeply and have
determined to get In deeper they have called meet
ings holders and have placed the financial affairs
OF the papy before Them they have made every e
fort to carry the company through it's difficulties, but
they nave not been aided those who are as deeply in
tereted themselves and have consequently abandon.
cd all hope preserving the property OF the concern
In opinion 1t would be tho best thing for those In
teesed In the completion Of this road work of In
terna improvement, a. means Of communication with
the Interior to have the company sold OUT not only on
the above ohstte mortgage, but upon the other mort
cages given for the security of the outstanding bonds
1t would in that event, fall into other hands, and
should soon have q road to Albany. This result may
be realized much sooner than many anticipate The
sheriff must proceed in accordance with the above order
of the Supreme Court forthwith appeal granted
and at the end Of sixty days granted unless the
demand is in the meantime lquidated Should this de-
mand be paid 1t will bs an inducsment for other
ditors holding demands past DUE to press them, and
force the company to meet them, or force 1t into
liquidation. There Is only wsy to put this
concern in safe position, and that Is by assess
ment upon each share of the stock already issued This
method has been frequently suggested, but the stock
holders to think that the board Of directors
do anything necessary In the way Of raising funds and
they lis to proposition, and mako effort to aid
them. The difficulty is the present board have done too
much they have raised money upon their individual
credit to suOh extent that Is the general impress
sion they can raise any amount at any time. Thsim-
preston is endangerng the property Of the company,
aud it is done away with the better for all
concerned The stockholders must put their shoulders
to the Wheel the company will get SO deep In the
mire that 1t cannot be extricated. II they do, a
body half much the president and directors have
done individuals there will hereafter be little trouble
In the finances Of the company At present the
Is in tight place, and something must be done at once,
or It will be too late.
The last annual report Of the Reading Railroad Com
pauy has bssn for time past anxiousy looked for
and many interested have been compelled put up with
the msagre account published after the last annual
meeting. The amount invested In this IL
t,an twelve millions Of dollars and 1t il annually in
dressing at pretty rapid rate 1t appears by the report
Tor the year ending Nov s0th s47 that the aggregate
income Of the company for that year, little
than two million of dollsrs, as annexed -
REApISs RAILROAD.
From freight COAL 800 6sl tons. 81, e98 663 90
From passenger travel. l6o20l As
From translation of mail and other sources 1850 %
Total receipts. $500. 50 oo2s45 50
Expenditure.
Running expenses, including
workshop, depot office, &C.
count,&c .$e36077 IS
Repairs of road aud wharves. =. l4a,als 10
Contingent expenses, salaries,
attorneys fees, printing,
freight missing coal &C.. 462e2 80 900 400 so
Excess Of receipts expenses 5000 $50 -
rb;a a. nretty larry, heleure au,ountinp IN MARTY