The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-08-06
MERITS - Fonrrer Day Gosps.
Sa]7,lG
..S463,02l

There is more activity than usual Ia foreign dry
goods and the weekly amount entered for warehousng
is reduced to a small sum. The large instslments
show that the importers preparing the fall
in earnest.
The deposits In the Office Of the Assistant Treasurer
Of the port slowly but steadily increasing The
cepts yesterday amounted to S67,3a 70; payments,
se6,oo4 80; balance, s1,511 400 a.
Attachments have been made upon the property OF
the Norfolk County (Mass Railroad, with view Of
testing the validity Of the recent assignment OF the
companys property for the benefit OF its creditors The
efforts Of the directors TO free the from It's smbar
rsssmsnts being thus checked they have issued cir
sular to the stockholders detailing to them the prsca
rious situation Of their property and calling upon them
TO come forward ana raise Sloe 900 upon the bonds
Of the company 10 clear 1t from les present dacutes
This company appears to be In . state Of collapse;
and unless the stakeholder forward and extrcsts
the road from the hands Of the creditors they will lose
their interest In II for ever. The stockholders o.
many other railroads In the country upon
the brink Of a preeipse similar to that OF the
Norfolk County road Many Of them are pre-.
vented from coliapsipg BY the NEST reckless and
sxtravsgant expenditure and enormous sscrinses;
but they emily postponins The crisis, and making
10 more extended and more fatal whom Il comes
The expose which has lately been made in England
relative to railroad Management and the samblng ope-
rations Of railroad directors win have is counterpart
before long In this country The greatest excitement
and condemnation created among the directors Of
railroads in Great Britain by the introductsu OF bill
Int Parliament, providing for the appointment Of
government auditors for the examination Of railroad
reports and accounts. The railroad interest In the
House Of Commons raised tremendous deposition to
1t, which proves coneusvey that the directors dread
open inspection Of their affairs wesunex extracts
from article In the Lsndon Timer relative 10 this
subject as Its remarks will apply 10 the railroad com
panies Of this country, well - to those Of 0reat
Britain
Thus the matter stands at present without aay re-
ference to any reply that may be given by Parliament
TO fresh applications for powers to raise additional ca
ptsl This vast amount Of property belongs almost
nnumerabe body Of scattered shout
the country professional men, tradesmen. women,
country gentlemen Of limited means domestic servants
and Others IL Is certainly true that MANY great ma
nufscturing and commercial houses have sero Grip
pied their operations by ysntung their capital
on railway rpeculstions, and such persons th.ss
should be deemed capable 81 guarding their into
rests from damage In money matters and Affairs Of bust.
eesity Of guarding the interest. Of mercantile men who
engage In railroad adventures there certainly be
entitled TO all the security that vigilance can suggest
or ingenuity can eontrIre. The holding Of railway
shares should be denudcd far may be- the char
scter Of speculation revenue that arises fron tho
Internal circulation OF goods and passengers through
the country Is no fiction, imposture no bubble IL
Is a perfectly legitimate source Of income
The parties TO the dispute the propristors md the
public whose iaterests are Identical against some bali
dozen coteries composed each u Eve OF ak real or so.
d'anf capitalists The proprietors- share holders
are directly Interested in the eat.blish.
ment OF satisfsctory system Of audit than the public
IL 10 question for them whether they had rather have
rock or auckland as foundation for thelr houses
DO they prefer the certainty Of Legitimate trade or the
uncertainty Of CapeLcourt specuI.tionsl
the legislature 10 interfere from time TO time the
better regulation " this species Of property In what
position would the directors Of the various lines stand
were the governmentto for lard aud prove
them constant aud repeated nfrsction u their
matted stipulation? We are much mi taken or We \
have heard of such things "a DriseI
OF hsrbors unauthorized purcha Of steanh,ats uo
other companies for the purpose Of rendering the exe
eution 81 other railways Impossible rh-rs has been
pplfcation Of funds intrusted
mitreprese NATION Of fnsncia Transaction deceptive
accounts Add 20 all these brea Of tru O. the ~on-
slant hocus pocus between pita income
which has prevailed more less every thro1xh-
out the Kingdom, the consequences Of which IT, fptfss
prchassr cho tuys thdrs does in ignorance Of true
state Of the companys Affairs and IS led sire hehsr
price than hs hirg wor under the 6e,ie that fs dir,-
serds Gene bend fde oui J pratt" We much doubt
hthere be single line throughout the three toms
which transactions OF the have uu
have not taken place
an example be desired our railway intelligence Of
To- day, will furnish OF the most astounding that
even railway history has produced Let every sr.
holder Throughout the kingdom read the dsciOsures
70 the Management of the Ne ~csstls and Der rcs Rail-
way, aud consider whether, with proper audit such
frauds could have been perpetraei aud what security
he possesses except those that this bill provided that
similar iniguties shall not be repeated and Improved
upon IN whatever line he may be Interested