The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-09-26

paid on all passengers that down the Hsusar
tonic Lailrosd sud over the New Haven road to New
York, SO that for oil passengers brought to New York.
from the above named p ACES the railroad the COM
pany only receive 43 csch out Of ST. which each
passenger has to Pay The New Haven Railroad Conn
pany also pays the Hartford and New Haven Railroad
Company at the rate of $50 per annum for empty
ing their cars into those OF tse New Haven read IL
viii be by this that the stockholders Of the New
Haven Railroad are little benefited BY the l.rxs
amount Of business the company 10 doihs; the sars
full Of passengers give but small income the receipts
being almost entirely eaten up by running expenses
and bonus paid to steamboat and railroad oompanies
1t is opinion that these facts have great deal to
do with the mystery which hangs the movements
Of tho directors and the these things would
Affect the market value tn stock aud interfere with
the financial operations the management has pre-
vented the publication Of detailed report of the
affairs Of the concern
II those interested In this % stoekholders
Will inquire particularly into these contrasts With
steamboats, and Iahos"s, they will find that the ma
nagement OF the New Haven Railroad are largely iute-
rested in the companies STEAMBOAT aaa rairoaS-
with which they have been made and they viii ALSO ana
that the competition is by removed BY the
arrangements made, as there boats on the Sound
running from New York t. al The principal ports Of
Connecticut. II thus appear that this il another
added to the long list of aenqr emit railroad comps-
Mes and many Of those which have been in operation
some years and have for many years paid good div-
dsnds, WILL when their affairs analysed and probed
prove equally deceptive and insslvent.
report relative to the affairs the Reading Rail-
road Company will soon be issued 1t enanates from
agent appointed by large Eastern stockholders and
Is not therefore, Of official character In relation
to the points discussed In the Forthcoming report the
Philadelphia Ledger ssys:-
"The main points relate to the revocation of the pre-
ferred stock and the Of the due in 1850
The preferred shares 1t is understood will he sauesl-
led and the original bonds reissued to the holders
This will leave about four million bonds to be pro-
vided for In ls5O55 three fourths OF this sum falling
due LIST OF January next Payment at maturity not
contemplated but renewal for twenty years, Qs70O
dollar for dollar proposed To make this renewal &C.
ceptsble In the face Of eight millions previous mort
gage loans due in lS53e0, king fund Is con ddeu-
y spoken OF by the New England agent who reported
sanguine Of the future success the work
its past difficulties aud present
There various the failure
Of the preferred stock conversion the chief Of which
that the agreement Of May ls4S with the boudholers
Tor conversion, was made void by the extraordinary
showing Of last January The conversion since has
progressed slowly leave little hope for the ex.
tipgushment Of the debt due In 1850. Then came q
IN. instead OF a 3h dividend proposed in july.
md lastly all dividends pom stock have probably
been discovered to be with first mort
gage loan, (sterling Ave per ceuts) which is said to
provide that certain should be reserved
out Of surplus profits in preference all to
the shareholders for the liquidation Of the principal Of
the mortgage The mortgsgees likely looked
into this OF late. The renewal Of the bonds due in
January Will OF course rrst with the holders Their
election will be between first the sale Of their bonds
at market rates. secondly, the proposed renewal for
twenty years; thirdly, to bold he bonds and
at law, and contest for foreclosure with the ortga
geesn