The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-03-11

C0MHRR.CIAb AFFAIRS.
MONEY MARKET.

Com ID Z e. C lAh AFFAIRS.
MONEY MARKET.
Friday, March IO-6 r. N.
The stock market still continues comparatively quiet
Some of this fanciss steadily working up and others
steadily working down. At the FIRST board to-day
Treasury notes fell OF V per cent Illinois, e Norwich
and Worcester, u Reading, l. Long Island advanced
d Canton, q Morris Canal, " Harlem Kali
Others closing at prices current yesterday The money
market tight and the banks cutting every app
cant short possible. This the part Of
the banks attributed to desire press down prices
of Treasury notes for the purpose purchasing spe
collation. possible get them below par that the
drain upon tn for specie payment into the custom
house, will cease.
TIE annexed statement exhibits the earnings of the
Macon and Western Railroad for the month of Febru-
ary in each Of the past two years.
MACON WESTERN RAILROAD.
Lafniaes ier hlsfcn, 1885,. .Si4Is2 "a
Same period last year. l0,4eS 10
Increase, tqual to al psr cent. ...... 81 200 Gs
We know Of no company showing more regularly In
creasi business, and apparently managed with
prudence and ability.
The directors Of ths Hudson and Berkshire Railroad
Company have in accordance with the act of December
l4th ls47 made call for dollars per share upon
all the stock Of that company payable at the tressxrers
office In Hudson ct the Mechanics Bank in the city
Of New York, follows two dollars per share the
LIST day of April next, two and half dollars per share
on the 10th day Of April next, and two and half dol.
lars per share the day May In case of default
In the payment Of such calls any part thereof the
stock upon which default shall be madS will be forfeited
within ten days after such default.
The bond provided for in the act Of December last
csnnc be obtained until the above calls paid In and
expended and It is therefore important that the stock
bs uul nf ar hat
there be delinqusnces The reaying Of the Hudson
and Berkshire road with heavy RAIL- should be com.
psted at early day possible asd the
for that purpose will BE- the best investment thu stock
holders make As the road stands it is almost
useless and the capital expended In its construction Of
than thouah the bottom the ocean
The npr ovement In the road contemplated for which
the above assessment will be appropriated, make
the road GENTLY productvc to gvs coed dividend
on thu total cost OF the line and its appurtenancss
read that worth building Is csrtaDy worth repairing
and thsre must have been originally sufficient induce
ment to have drswn out SUFFICIENT capital to construct
this line 1t is vorsby located and nothing to
prevent the antiopaons Hrs formed from being real
lied The section Of country through which II passes,
with moderate amount Of through travel, can sup
port the copany and In the event Of other roads being
constructed interesting this its travel may DO aug
mented to make It highly productive. At all
the only chance for the stockholders reasiug
the first fraction in the shspe Of dividend their In
vestmsnt 10 to meet the demand made upon them tho
payment OF dollars each share We have pre-.
vously pubshed tho report Of the meeting called for
the purpose Of taking proper to revive this
oonpsny sad prevent the sale by the Stats which the
Comptroller compelled to make, unless his claim
satisfactorily provided for and those interested arc
probably In tho possession of the necessary information
upon the subject.
Accordrgto the constitution tina Legislature Of.
this state Us required to adopt general laws for the
gulaon OF incorporated corpanss and regards bank
ing laws already exist under the general banking sys
tenn; recently, general laws have been adopted rea
tive to manufacturing interpretations and there is I'M
der confederation general railroad BILL which has cre-
eted great division In both branches OF the Lsgisa
ture and TO be tho difficulty before
disposed Of This 10 very important question, and
the principle provided for In the constitution for the
regulation of companies generally will provo II adopted,
dinghy Injurious to many interests In this State
The power OF the Lesaure to grant the right Of way
to chartered railroad companies, has always been ques-
toned AID IL Is only lately that the Legislature of New
Hampshire would incorporate company with that
mower Il being held unconstitutional and therefore cut
Of the pale Of legislative action This risht'has ever
been found exceedingly arbitrary, and there Is no sp-
neal rom this deci.on of the jury BY the
pony or py the egSrie'oo P%'y' NO @se1 "a"s sy no
the injury or how limited the recompsnse. In
Thousands Of instances private property has been In
vadcd and destroyed in ths most ruthless mannsr and
with all the restrictions which special legislative act
could place upon the proceedings Of railroad company,
loud and bitter complaints have been made Of the
eourse pursued In locating their lines Private property
was longer sacred and it only from the fact that
roads not unnecessarily multiplied, that act
of incorporation required before movement could
be made end that tbs Legislature avoided incorporating
rival routes much possible for the protection Of
property holders that tho power Of the Losistursi TO