The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-09-16

vested. Long !ard sold to-day at prices lover thso
has been known for years Ii Is impression that
present prices for that stock high compared 9TH
these that will be realized in the of the next six
months There are many outsiders holding Long Island
Railroad stocks that high twenty per
cent, purchased within the past four months they do
not the bull spectators Of Wall street. they must
have better supply Of christian forbearanee than hui
man nature generally possesses.
The amount focal transported on the Reading Rail-
road fer the ending the 18th inst 1855 tons
previously 733 le3 topstotal 75s,760 the SchayI-
kill Canal. 10 754 tonstotal 292, i3s tons.
1t appears by circular just issued by the President
Of the Boston Concord, and Montreal Railroad Com
papy that forty miles of the road dnshed
and in operation The grading and other work on tina
remaining twenty miles is in very forward state The
iron for the distance between Fogss Aoad twhse the
cars run) and Plymouth, Is ready, and it Is sx-
peced that the laying Of the track will be commenced
in a few weeks The amount Of capital paid in is
ss5le7 AZ The unpaid assessments and stock yet TO
be Issued contracts and otherwise will 1t Ia OK
pected. increase the amount to million of dollars
Bonds have been negotiated to the amount of 500 ooo
With There means aud the remaining Slcc 900 now TO
be Opposed Of 1t isestimated that the whole sixty
miles Of road may be mpleted Since January LIST,
when the accounts Of last year made up, the
trains have for about three months, over 20 miles
Of the road three months more 80 miles (the last
nine miles only day. for the last two mouths
the trains have regularly Al miles The gross re-
ceipts have been, to August 3lst S7s400. The pro-
portions with connecting roads not having been ad
justed until within few days, the net receipts cannot
be precisely stated, but will probably not vary much
from so o00-which gives q net income Of moro than
six per cent per annum the cost Of such PORTIONS
Of the road as have been used
We have said much lately abont the fraudulent
and Windli In of n
country that induced to place before the public
the annexed extract from tue London Times, relative
to the railroad bubbles Of Great Britain will apply
with much force to the evils labor under those
complained Of abroad 1t will also show that the stock
holders in the railroads Of England no better in
formed Of the condition and position Of their property,
than those Of this country There is much oxtrava
gance, as much mystery and secrecy connected with
the operations Of railroad directors in England as In
the United States. The class OF individuals who
mage railroads is the all the world set o.
specializing swndlers who take good to feather
their nests at the expense and ruin OF th0uo~n.
Of innocent Stockholders.
RALRoAp BuBBLEs-RAmRo.D SwrsDLrSa.
when the history OF popular decisions comes to be
rewritten long chapter will certainly be devoted to
the birth aud progress Of the mania for specu
laton. The grosser features are easily struck on
whether the madness OF the moment flow on impetu.
ousy with the Mississippi wauton about amid I'M
discovered islands in The Southern Seas whether Il
u u u
amid the tulp beds of asrlem Rotterdam matters
but ttle the dngnostcs Of the disease, up to GER.
tain point the same. There Is the same gradual
absorption Of whole nation into the vsr.x the
passage from prudence to doubt from doubt to expert
mn Endemic sppeula,ion has broksn OUT 4, Z but the
question Of few weeks days between the sliest aud
the wsest heads in . nation. Rslph Nicklsby, the
ads closely in the steps Of Lord Frederick
Verisopbt. the pigeon This, indeed Is but one OF the
erosser features common to all delusions but We
would indicate one point on which the railway mania
las differed from preceding Of national insasity
1t has commonly happeped when the bubble has
burst that the extreme II ditrust has succeeded 20
the extreme Of confdspce. The demgol Of Yesterday
Is blown upon 10 day, and proclaimed s0inder to-
Sesaus dnci,er u'.co; the ideal Of
George Hudson is removed to Madame russauds lsbo-
rhtory to be touched up for Rush Ledru Rottn.
See what took place Ia Paris whao Law was driven
from the French Kingdom. what took psce In Lon.
Don when the South Sea Directors were forced to dis
gorge their pluudsr. The Houses Of Commons va,
ready TO punish them by susFcnding the constitutional
rights Of by the cusciment any ukase soft
seemed stringent and vindictve enough But the rail-
the abnorma feature Of the chjlite
confidence OF shareholders In their directors in the face
Of detected impost ure-fAiins dividends aud dspre
Is sentiment there Il passicn The feeling of share
holder t. his Chaplin his Russell OF his Ma,sresor 10
as the cbivalrous devotion Of Burke to Marie Anto
nette 1t passes the love Of woman ss It exceeds the
belief 81 man One shareholders will put up With the
loss Of property he will smile wany the docored
bslancs-sheet; he will cheer the announcement OF .
dividend Of two cent ~ he would the discovery Of
upprrjudced bys,audsr bat the Direction |" Is az
sossed With 30 many expectations that 1t must not 10
] rudely attacked
"Ss. may s.sa.; you may rain the y,,s ify,S.u.
the secretary reads his statement and whom the div
dend Is announced Charity, like Sterne's Recording
Angel drops tear upon the balance sheet and all 10
Day after day We have to print reports Of meet.
shown by the practical Admission OF directors them
selves. TO be In dilspdsted coudit on as compared
with Their former fai, estate 1s. stu the cqnnisnss
The half yearly general meeting q the propre'ors q
the Great Western Railway Company was held at
! Bristol Our readers will doubtless remember the
time when this enterprise paid per cent to Its share
holders, but now-we will copy the important para.
eovnts for the half year which might otherwise have
yielded to the proprstors dividend at tho rate II 40
only rupply funds for dividend Of per cent leaving
however, asum II ,02o os 1od as balance. TO be
hereafter appropriated may seem most advisable"
There I, stisast column and half Of dscoarse from
Mr. Russell the chairman, devoted to the euiogy Of
system q which such is the fruit II asked
what h the practical result Of the present theory Of
railway management the rnswsr would be- Four per
cent vice eight per cent retired We know not she-
but should look with grievous suspicion upon .uch
adeprecstion Of our properly Not only has r,l-,y
Of Its present Managers, but there Is not q singls
shareholder on any Of the lines who can anirn, with
anything like confidence that even the poer dividend
announced has been fairly earned u may or may not
be sowbo can tell a. long small xnot OF rneu are
Permitted to mspege the affairs OF tb.s portant cor
Jtrsiiops. without any reel cheek ~ha,socverf The
shareholders should remember. that the simple nnd
natural Elect 81 this loOes system OF mann cement,
nssumipg u TO be untaipte1 With fraud Il TO de-
precias their property In the market for purposes OF
fre, mere than 70 dininlsh.s the snnus incoms
they should derive from 10 ~ they permanent
+ holders. The Of the Great Western Rsilray In
not however, the only enc which may be quoted The
Southeastern which was paying por cont has fallen
Josn to aud frnsil fraction i GO was the dividend
dseared for the half year " the Shareholders s.e
deaf TO every other consideration u foresight and
prudence such arrum.nium I'd cgItmengn as this will
not Il is 70 be hoped, remain sithou. effect It will
be remembered that In the course Of the Interview
which took place between Lord John Russell aud MIR
/ Iaboucbere, the ravt of the government, and
Mcssrs 0i,n. Russell. bsrlin. DENTON. ana Lord
Lopsdsle the part Of the directors 81 rail pre-
vous 20 the Abandonment for the session Of the Aut
Bill. those Gentlemen INDUCED in self grstula.ory
coniiums upon the results q their iyement. We
have them before us-a depreciation OF st least
half In the value Of the properly cemtsittsd to
their charge T. presspted By the directors as trans
eendsnt result o. the perfection Of human wifdom.
How does apy stockholjsr In any railroad company
know whether the dividend he receives IL really earned