The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-09-26
COM MERCIAL AFFAIRS.
MONEY MARKET.

operators In the street evnce very little disposition to
NEEDLE with any kind of securities Some Of the bulls
talk largely about some movement In particular
fancy, and look very wise and mysterious; but we
would advise outsiders to keep clear Of these
and give them wide berth II the bulls to be be-
heved, there is always movement going on in Wall
street. but unfortunately for them the movement nine
times out Of ten, is downward Instead Of upward 1t
is only necessary to look back few months and note
tho course Of prices to learn what success the bulls
have met with In their operations; aud II outsiders
will review the stock market for the past FIVE years,
they will that spectators for rise have been sad
died with immense losses.
At the first board, to- day, Erie rs 1862 fell OF Y
per cent; Farmers Loan, =; Long Island, ~ United
States os, 1867 improved per cent. At the second
board Reading Bonds declined \ per cent; Reading
Railroad, q. Farmers Loan went up u per cent.
There was not much activity ct either board.
The receipts at the Office Of the Assistant Treasurer
Of this port, to-day, amounted to sos payments
$l36,2ot balance, So 7s3, ea7; duties, S9es53.
The New England Glass Company have declared q
dividend Of ten per cent, payable October 1.
The Albany City Bank has declared . semi annual
dividend Of four per cent payable the LIST of o.
tober.
The State Bank At Newark, N. J, has declared .
semiannus dividend of three and half per cent pay
able on the LIST Of October.
Twsnty.eight kegs of silver coin, amounting to
$40 O00 went UP the river ON Saturday on its vay to
Toronto.
Efforts are being made to all mp the capital
stock Of the Vermont Valley Railroad Company for
the construction Of railroad between Bratteboro aud
Bellows Falls, distance Of twenty. three miles The
capital $S0oc0; but such arrangements have been
made with responsible that only 5000
required to put the work at in Of forward
Rail sL-slla ~
two hundred miles Of road running into the interior Of
Vermont and New Hampshire and open to this city
the immense trade Of that section OF country. 1t
proposed to pay interest at the rate Of six per cont
on the stock OF this company as it is called In.
There is no railroad company In this part Of the
country apparently doing better business than the
New York and New Haven and still 1t dses not earn
the dividends paid on the stock and interest Its
debt, after paying Its running expenditures. This
road has now been In operation about nine months
during which time there has been election for dirso.
tors and report has been made of it's cost or Of it's
financial Affairs in any shape, and the stockholders
have no knowsdse Of the amount Of debt the CAPT.
tai II the There is excuse for this and
we are disposed to believe that there Is object In
keeping back the report. This know, that at the
last meeting of the directors it was voted not to accept
The read which that the read was not ready to
be handed to the stockholders and left to depend
entirely upon its own net earning for dividends Tho
modern method Of constructing railroads Is TO promise
the payment Of six per cent interest the stock paid
in until the road IL completed, whom 1t Is turned over
to the stockholders 1t is termed and after
which the stockholders have to depend entirely upon
the earnings for dividends unless the directors anan.
cer in such way to carry enough Of the earnings
to construction account, 60 squeeze out fair dvi
dend out Of the balance. The New Haven Railroad
constructed last January, when the trains COM
mcnced to rum and have been regular operation since
notwithstanding which, the directors have not yet
turned It over to the stockhoder. This s very OK.
trsordnsry fact the face Of IT. but does not appear
strange when IL Ia shown that it has been the want
Of sufficient income to pay six per dividends Of the
stock, that has induced the directors keep every
thing connected with the cost Of the road mystery.
The annexed siatsmant Of receipts and expenditures
for the fret seven months 81 this year exhibits de.
neeney after providing for the interest on bond. and
stock for the same period -
Nrw YorK AND Nrw HAVEN R,nro.p
Reefs from psssnserS Jan to Aug is.o. sl42ao1 -
ffeghts "a. 4ST5 %
Total receipts for months 1sip.. sit7 ia 70
Iotai expenses Tor ! months, 1879. SEQ. 6sl52 as
Net revenue, first mouths Of lsio .... s7s o24 81
Taking II for granted for the moment that this L.
correct account 80 far goes 1t furnishes good dats
for estimating the dessisncy alluded to above We
have no oncia report Of the company giving us the
amount OF capital or cost Of the road aud have there
fore todepena upon the best information We can obtain
from other II IL stated that the capital of the
concern IL 0oo and the amount Of debt $500 oOo
making an aggregate Of s3Oo0o0o; the Interest on
which for seven mouths at Elk per cent per annum.
amounts to 100000 showing q deficiency Of s25 go
In period Of seven months. 10 will be seen by this
that the stockholders would have received dividend
Of only about two per cent for the six months ending
July 1st 1872 instead of three had they depended upon
the net earnings OF the road. Nov q portion OF the
interest psid the stock is 90 much added to the
capital.
We bave no guaranty that the above report OF re-
eeipts and expenditure Is correct We have no more
authority than the board Of directors the manage
ment and we place very little eonedsnce In them We
have way OF proving the correctness OF railroad
ports a. regards expenditures; and the apposon Of
the test to that OF the New York aud New Haven Com
psDy shows very great discrepancy someshere THIS
con psny runs four trains Of ears TO New Haven and
back, daily which rs miles; ALLOW az miles draws By
horses and II leaves 75 miles each way which IL ISL
miles train, which makes aggregate for the fonr
trains, daily, Goa miles There Is another train that
runs to Norwslk, 42s miles, after deductinr the az
miles drawn BY horses which makes IS miles TO each
train The aggregate Is therefore, ESQ miles daily
which, multiplied by 1872 (2s days to the month for
ven months makes grand total Of sos miles Now
u well known by every engineer in the country that
the average cost for RAINING trains railroads in this
country ranges from 20 cents to 81 rs per mile TAXING
The lowest average for the New Haven Railroad say 20
cents and the aggregate cost or running sos miles
smounts to ss7s co. There Il to be added TO thi, the
'moopt paid the Harlem Company say $4,000 per |
month fer seven months SOS oco and the cost Of the
horse power for drawing the eompsnys from Ca
bsl street to the steam depot at AID street. This last
ITEM We cannot get at; but to be- within limits u roud
be ssfe TO put down at oeo for the seven months
Witch would be shout ~ per mile. All these expendl
lures added tossiher make ezgresats OF sf25 77s
5o TO be deducted from 70. In the report Of
receipts from passengers the fs51s5 SO Is put
iown ss coming from commuters and ~ Is question
Hhsther that 10 for the months or for the year
10 Is well knonn that the Nov Haven nailroah lon,