The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-05-18
com NJ ERClAL AFFAIRS.
MNpN ID MAxNhh1s
Wednesday, May 17.-6


has a tendency to depress other fancies Farmers de-
cnned per cent Morris Canal y; Harlem al Erie
Railroad new full h United States 6's, 1867, advanced
"a per cent? Reading Bonds u; Treasury notes closed
at yesterdays prices
1t will be perceived by official notice in another
column that the whole of the preferred stock of the
Harlem Railroad Company has been taken, and that
the first insament of Ave dollars per share is payable
on Monday, the 22d instant. This places this compa
ny in stronger position than any other railroad in
the country-we will not make single exception. 1t
places the company in funds to pay of every fraction OF
its Indebtedness to complete its road to Dover plains
n distance Of eighty-four miles from the City Hail. to
construct double track to the junction with the New
Haven road; to build bridge the Harlem
river and provide the line with whatever machinery
and appertenances the increasing business of the
company may require. The debt which has weighed
upon this like mill stone has been removed
and all the difficulties and endorsements which have
for years created many fluctuations in the market
value Of the stock have disappeared and the finances
Of the company are in healthy and prosperous
dition. The board of directors is every thing
that any stakeholder could wish and, although we
regret the retirement of of the old board
1t is consolation that their places have been SO
judiciously filled
We have receiveda Congressional document giving
detailed description of work about being published
by Aaron H. Palmer Esq. giving memoir, geographic
cal, political and commercial, the present state
productive resources and capabilities for of
Siberia, Manchuria, and the Asiatc Islands, in the
Northern Pacific Ocean, and the Importance of
opening commercial intercourse with those countries
This will give comprehensive history of these
tries, and furnish fund of information relative to
those sections of the world which at present al
most unknown. The immense trade which might be
carried in the places named, II proper commercial
treaties made apGcars to have been lost sight Of
and our commercial marine has for ages been confined
to the old beaten track Mr. Palmer proposes ways
and means to open and this trade upon the
most favorable footing and have doubt the
adoption of his views by the government, would lead
to great increase Of commerce. and the extension
of our foreign markets
The territories of Oregon and California rapidly
filling up with hardy, industrious, and enterprsing
settlers from the Eastern States; fisheries in the
Pacific are already immense, employing more than six
hundred vessels, and more than 10000 men We have
large number of vessels trading from port to port in
the Pacific, and about forming steam communica-
tons along the coast The of those
immense and at present but little known; and the
object Mr. Palmer has in view in the publication Of his
work. is to induce the government to secure the ad
vantage geographical position gives in prose-
cutting this trade The acquisition Of California New
Mexico, and other territory the Pacific, has in
creased the Importance, or necessity for an early
movement tho part of Congress- and hope the
facts presented by tho Forthcoming work will accom-
plish that desirable result.
The annual report of the Boston and Concord Rail-
road Company represents the affairs of the company
as being in very prosperous condition. The whole
amount which stockholders have paid in is $780, $685.
has, fnf ha Mt IF
OOO and the amount expended has been S325eoS. The
cost of the railroad from Concord to Sanbornten
Bridge, exclusive of engineering and incidental ex
penses, is S2l5176 or about S12 900 mile. This is
the portion the road recently opened From Sanborn
ton Bridge to Lake Village IL miles more the cost
estimated will be S16S,343, rising $4,000 mile
This portion is in good state of forwardness About
10000 dollars have been expended between the Lake
Village and Rumney. The charter of the company
authorizes the extension of the road to Haverhil and
allows till 1855 to complete the undertaking The drcc-
propose push the road forward Haverh with
all the despatch consistent with keeping the corpora
tion it has been, in safe and sound condition.
The directors think the road may be opened to Ply
mouth next year.
The stockholders of the Boston and Worcester Rail-
road, at a special meeting, voted unanimously to
cept the act of the Legislature authorizing the in
authorize the directors to create stock to such
amount they judge necessary for the purposes of the
corporation. The directors have given notice that
subscriptions will be received for new stock to the
amount of $700 000 Mt par, from holders Of stock
the 18th inst in the proportion Of share for each
five shares so hoden-such subscription to be made,
and so per cent of the amount to be paid before
the LIST Of June next.
The directors of the Western Railroad corporation
have declared half yearly dividend of four per
cent payable the LIST of July to holders of stock
the 31st Of May The gain in the receipts for the six
months past is about $40 0oO On the LIST Of June an
assessment Of thirty dollars per share is payable upon
the stock, which will be entitled to the next div-
dend, payable on the LIST January
The subscription list for converting four millions of
tho Reading Railroad debt into per cent shares
was opened in Boston Saturday morning and at
9 O'Clock p NJ. one half of the amount had bee sub
scrbed for. The remaining fourtenths required by
the conditions will probably harder and unless
the bond holders generally come forward and accede
the measure the effect upon the credit of the corpo
ration, weighed down as 1t is with enormous debt
without any means of payment must be disastrous
The Indebtedness Of the company maturing prior to
$780, is hanging like milestone about its neck, Grip
pling its energies and dcprecating its securities
The annual meeting of the Providence and Worccs-
ter Railroad Company was held in Providence on
Monday. The number Of directors was reduced from
twenty-five to fifteen The receipts of the road, since
the opening, were reported to be $4,000 current
pcnscs not asccrtancd being blended with construc
ton account but estimated at 40 per cent Of the
earning The whole cost of the road is estimated at
slsooooo. The union of this road with the Stoning
ton and Providence railroads has had favorable in
nuence upon the income of ALL and the local travel of
each hereafter, will show n handsome increase The
depot answers for these three roads, and
gers from Boston, New York. along the line of the
Providence and Worcester road, can be transferred
to the other without that delay which exist
cd before the ferry at Providence was abolished The
Providence and Worcester Railroad has bee n one of
the most successful lines in New England--not an
accident has occurred in the running of its passenger
trains and its engineers among the most skilfu In
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