The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-04-26

tsdsy State stocks generally were active and the I'm
preston H. that these securities must steadily improve
In the event of the ChArilst movement in England
suting favorably to that clsse must bs very
great influx ofcspa here from all parts OF Europe for
nveotment as this will then be the only county the
face of the earth the institutions of which pcrma
nenty established, and beyond oil dangers from po
toa revolution should any din ;ul.y BIS realized in
Great Britain from the political agitation going there
at the latest dates, the eyes Of every capitalist In
Europe will be turned to tbis country they will
not believe that any thing is sound and substau-
tis here until they hsvo seen everything c-umb
ling to pieces around them until they have been
almost bankruptsd by the explosion of the rotten sys
tsms Of finance which for many years they have sur
rounded thsm Then they will begin to see that our in
situations the only under which any people sur
fciently advanced in civilization live and prosper
that our public debts founded upon the only basis
that can give them legitimacy and that the will OF the
people, and that while all other governments may
pode and pass away, We beyond such dangers, -
here there would be everything to lose and nothing to
gain, by any change. When immense fortunes have
been lost by European capslsts-by putting too much
trust in princes their pockets empty they will
learn how they might have saved their money and where
IT could have besn prontsbly invested Although 1t will
they will have acquired yst will be warning to others,
and point out the proper method for future investments
was currently reported Ia tho street to-day, that the
mouse OF Phelps Dodge Co. had suspended. This is
mistake. Tho report arose from tho announcement
made In an English paper received by the Acadia ofthe
failure Of the Phelps Cotton Manufacturing Company Of
Connecticut. This manufacturing establishment failed
about three months ago. and the paper alluded to put
In their list Of suspensions which sufficient for the
bears In Wall street to start story upon and as the
nrm Of Phelps, DOGGY Co. csme nearer the than
any other large house the CITY, it reported that
concern had stopped pa ment.
last session of eLegsturs Of this State act
was passed authorizing the New York Harlem Railroad
Company to issue fifteen hundred thousand dollars of
preferred STOCK In shares of Atty dollars each Books
for subscription to this stock will be opened the third
day Of May next sto okholds of the company whose
names may be standing upon 20 books Of the company
on the 27th Of April, will be lowed the preference In
subscriptions for the first thru days The amount re-
eeived for this preferred stoo 10 to be applied to the
payment Of the debts of the ompany, and to the
petion Of the road to Dover ms distance Of twenty
nine miles from the present termination Of the road
Any debt due from the company to fall due in the
Of the present year. will be received in payment
Of subscriptions for the preferred stock Bond holders
will have opportunity Of turning their bonds, which
are now drawing but six per cent per annu into stock
drawing dividends Of eight per cent per annum. The
difference Of two per cent per in interest will be
great inducement for bondhoders to make the ranss
~ the security Is equal and the safety Of the invest
ment - good, and the payment Of interest sure.
1t viii give the bondhoders the additional advantage Of
having more negotiable evidence of indebtedness.
The payment Of the instruments or subscriptions to
the preferred stock from others than bondholdsrs has
been made exceedingly easy. Payments of ave dollars
each share at time have been spread over period
Of two years. but in the high of in
tsrest guaranteed payments in full at tho time Of sub
scrption will doubt be made to considerable extent
The financial position Of tho company after is debt
has been entirely quidated will be suoh to put this
preferred stock ct above par The stockholders viii
have road eighty -four miles long, With double track
fifteen miles, better equipped than any other road Of
equal length In tho country with sufficiently
large to pay dividend Of eight per cent tho capital
stock Of three million i've hundred thousand dollars
tho rst year after the extension to Dover Plains is
petsd The aggregate cost Of the road and Its appurte
will then be three and half million of dollars
which Tor its length location &c. Is the cheapest road
this continent It il estimated that the total cost of
this road, completed to Albany, win be about Eve millions
Of dollars, income from which Of million Of dol.
Lars, gross-whioh by means il extravagant-w
give dividend Of ten per cent to the stockhel ders
These 10 true merely estimates but those acquain
ted with the business Of the company tell whether
they founded upon good data not. few months
win confirm tho correctness Of the statements have
and heretofore made relative the productivsnsss
Of this company.
The railway calls In England for the month Of April
amount to ca ,s6s; of which s542, 800
count Of foreign companies. The annexed statement
exhibits the classification Of calls
RAILWAY CALLS IN GREAT BRIrAIN, FoR ArnIL, lS46
LIST Class Calls, or those made by Dividend paying
ID Glass Calls, those made by Non-dvidend paying
ID Class Calls or .bo.s mad. by paying
Companies OF 1876 and 1871. ............... 27l2s
4h Class Calls those made by Foreign Companies 2 800
Total E2 38l. 855
The Calls for the corresponding month in 18t1,
amountedto.. 4,333,439
The decrease upon the month therefore f ss4
is hardly probable that the calls on account Of
foreign companies will be paid. The present disturbed
state of Europe gives little to capitalists