The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-11-02
the annual statement Of receipts and expenditures fe
eeveral years past -

According to this-and we take 1t for granted the
fgures correct, they are taken from the oom-
panys reportsthers has been, during the past year,
decrease in the aggregate receipts of $l4Sas an in
crease in the current expenses Of S9,63o, and de-
crease in the net receipts Of $2417s. The dividends
last year (beng two, of ~ per cent eachD amounted
to $65,o00 or twenty i've hundred dollars more than
the MT earnings. 1t Is by Q favorable fss-
ture In the financial affairs of this company that with
the increased facilities the Transportation of pas
seDgers and freight which the company have provided
during the past year, there should have been falling
of in the receipts from both Of these sources
the effect Of the opposition which has been
brought to bear particularly upon this road-an oppo-
sition which will increase rather than diminish and
which must ultimately cut down its receipts to point
low to make dividends entirely out Of the ques-
ton. The Fall River route has thus far proved the
most powerful competitor the Stoningt line has had
to contend with, and the opening Of the New York
and New Haven road. connecting this city with Bos-
ton an the whole of the interior of New England Will
completely destroy the winter business Of the Stoning
ton lne and that seasons business Of that compa
ny has been larger than any other steamboat
routes, account Of its inland course, it follows
that there must be, another year, and ever after
great diversion Of the Eastern travel from the water
TO the land route, particularly during Indictment
weather, when the navigation of the Sound IL
frequently dangerous, and at all times unpleasant.
Upon the expiration Of the present mail contract be-
tween the Postmaster General and the Stonington
Company, which takes place in short time, it will we
learn, be n ade with companies forming the land
route as 1t insures regularity and expsdi
ton the frequent failures in the transportation Of
mails by the water route and the disappointment and
loss caused by falling to deliver the mails Of the
British steamers in season. has long called loudly for
the change.
The debt Of the Stonipgton Railroad Company has
been increased during the past year. nearly
dred thousand dollars, and now amounts to nearly
eight hundred thousand dollars which with the capital
stock makes an aggregate of So The interest
on the debt this year will be $4s 0O0 $12 900 more
than for the just closed In view of all these faots
the future earnings Of this comp exceed those
Of any previous year, to give the stockholders
even the dividend they have received within the
past eighteen months. Those who interested
can judge from the present condition Of the oom-
paDy from it's prospects, from its the
position Of its stock, and the complete control small
clique Of holders in Wall street have its market
value-from the uncertainty which has existed, from
the declaration of the first dividend the day previ
GUS to the payment Of the last, whether would be
paid notwhat security there holding the STOCK
and what return they may expect from the invest
ment. 1t is impression that the two lines of rail-
roads running to points Long Island Sound which
depend nrely upon the through travel between New
York and Boston for net earnings will, in short
time, be in the same category-the want of sufficient
income to make dividends The Norwich and Wor
cester will never make smother dividend out Of its
earnings, and the Stonngton cannot make more than
one or more at the most The Fall River Railroad
has largslocal travel which, with the large portion
Of the through travel that route commands make
1t paying property; the New Haven and Hartford
Railroad is similarly situated and is already highly
productive. The completion of the New York and
New Haven Railroad will open era in the East
ern travel. and prove the ruin of those compa mics
which have heretofore been only able to drag along
sioky and doubtful existence when they almost
monopozed the whole Of the through travel between
| this city and Boston.
The official report Of the State Bank Of Tennessee
and branches, for Oct 1S4S compared with those for
juno and September, 1885, and April 1s47 was an an
/ naxad