The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-09-07

C0MnERCIAb APPAIRS.
MONEY mARKEY.
Thursday, 8epsem bcr Cd p. .

Inufsuay, oepte mper 10
There improvement OF In government
securities this morning. Several stocks advanced
trias, while Harlem fell OF u, and Reading tho Same
We have for time past had considerable to say
relative the appointment Of stockhslder committees
for the purpose Of examining the annual reports and
accounts prepared by the boards Of directors In the df
ferent railroad companies. The annexed article from
the Bossa Tysre,r upon this subject and railroad
nagement generally, will shov what efforts are beins
made to prevent the appointment OF the COMMITTEES
from the body Of the stockholders In the Boston and
Worcester Railroad Company The object Of this oppo-
stion must be clearly by those interested, aud
every effort should be made by the stockholders 10
~ the point In view.
The petinscious opposition OF the President aud the
Treasurer OF the Western Railroad in their capacity
Of stockholders Of the Worcester Railroad to the ap
point ment OF stockholders' COMMITTEES In the last
named corporation, Is beginning to excite considerable
surprse. Such 10 committees bad been annually ap-
point. for sx or seven years Three the gsntsnen
serving Directors OF the Worcester Rairoad had
been members OF such committee SO valuable had
the servioes of the COMMITTEES been considered that
new duu we're from time to time assigned them, and
TO petition the Legislature To change the time OF the
annual meeting, Tor the express purpose OF enabling
this committed bitter 10 Investigate the Directors pro-
eesdiDgs, and lack into the accounts.
New. all suddenly. the distinguished President and
Treasurer q the Western Railroad earnestly
sxertpg themselves to prevent appointments OF any
ouch committee. when . committee had been APP
p9iptd notwithstanding their opposition consisting
o. DIT smith Ssm" .na ,rns ana 1n .n,ss,sa 70
confidence aud pect the overpovertng influence OF
the Western Railroad succeeded In the extraordinary
proceeding Of obtenings vote Of reconsderation and
discharsipg the committee
Some efforts with more less success, have been
made under like influence In other railroad corpora
tions The movement is impsrtsst In some aspects
II 10 alarming The recent failure OF several railroad
corporations and the decline In the market value OF
the stock In all give good reason to investigate this
proceeding.
One oopsequenoe Is obvious II deprIvss the stock
holders Of all kno~iedge, acquaintance insight, or
means Of OBJ ervstion in regard their immense pro-
Perty except What is told them and to more than
s told them by their agents the Directors They must
take the Directors report TO be the truth aud the
whole truthinfsliibe In principle In theory aud In
fact without error by design mistake full perfect
Let the matter be looked At coolly Ia all its impor
taues The directors the agents Of the corpora
management OF some millions Of the capital stock and
Of another round million Of dollars Of annual income
They make purchases and Bargains for land, wood,
On the rate Of fares and freignt they appoint some
men to cell tickets and they Issue by their order,
mpm ntary tickets free gratis for nothing They
have construction fund which represents the capital
and an account Of miscellaneous expenses which rep
just what they please aud -her their year ef
duty expires you dnd printed list Of candidates for
re election end Of the table and report OF their
prnessang ,,y ,nnr. .hs ,o.p osp,ss stock !. Al
sound; that your inceme has paid all expenses and
left you clear dividend Of ten, nine eight or 70 Nay
be Just ak per cent; that you bad one half OF h
six months ago, and may have the other half At the
Trssurer's ofce and you are invited 70 accept ana
settle the account without further examination be-
cause every hing II going very yell and because
You ought 70 have must have and do have, unlimited
confidence In the directors.
Some over cautious presume that What " past
msy be all right at any rate cannot be mended but
they propose that the accounts for the next be-
fore they finally settled should be looked into By
COMMITTEES Of their own body and they propose nov
" name committee foe this purpo-. -ho shall take
mem ana examine them after the directors have made
hem up and before they presented 70 the stock