New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1850-05-15
~ 9TH some difficulty hitherto. large supply oil

.;r,,,., securities having been on the market as
inch under par; il has, therefore, been necessary
- o,asr 10 promote the sale OF bonds, and TO AVOID
.,e.s;ng them too rapidly on the Market 10 incur
-. con.iderable charges in COMMISSIONS and
...nc;e.. but Notwithstanding all the obstacles
-, h.ve presented themselves, it will be seen
nv the reaurer's statement that s2'iSV''O0 Oh 'ne
a,,, mortgage bonds have been negotiated az par
e. -. .sven ner cents and the equivalent OF si5
,o.n, sor a portion issued at per cent per an
ann. The mortgage under when tnese oohu' s az
i.sued IL will be reconected, constitutes inc ns1
hen on the entire road, and us equlP ~,
.or,nls,ed together with all the real estate VI NO
C~mnsnv. and that the total amount OF oonus
wh;rb en- he issued under it is limited 10 - OOOooV:
II h nroner here 10 state. that OF TINS sum oil
A. 100 Zoo which has been negotiated tne ComPa-
nv have vet TO be charged with any denciency pc
tween par in the resale OF the sun u ~.
n il boped that no such deficiency wlhoccur ms
aries from the following circumstances
In ,hs last report il was stated that the propo
al. made in January and jane preceding Tor
tenders for bonds produced oilers for Sl,2IOOOO, OF
vbcb s271. O25 then remained TO be collected; the
whole has since been paid up
Ia September following, an expectation was en-
.ertsinsd that a portion Of these bonds might be
negotiated in Europe and two gentlemen were en-
RACED by the Company TO make such an effort.
they arrived in London early IN October period
Of great alarm and dstrust in respect 10 all railroad
investments, and the object In view failed, other
wise than in establishing an agency i3I ise future w1 the
dop for the payment OF coupons and ne aoser OF oo9ds
IN that city, which 1t expected WIN very COON % eaea
into purchases have atey been ano commune 10 Do
made for European account.
Fariy In October a. iloDal funds became necesssry-
The period being considered undesirable for further pub
IL o6er OF bonds The amount Of 100000 borrowed
from iks New-YoTk Life Insurance and Trust Company,
ii security of The members OF tbs Board; and they are
ain thus held In November following, proposasior Iend'
or, for Bonds invited by public ADVERTISEMENT "a on
vas occssl.ns aud the Brokerage len open
lie Iathe Board being July sapshed mat ~iiloGt sc
ing The validity o. ne conos 2 Inn one sr eeD
rate siowsd previously II neeessary but the measure
was not successful HE high rate 0 per cent was ask
ed Sales on such declined under convection
lbs, IL would become necessary TO submit 70 heavy
charge The clsims on the Company have since been
ustd i bonds Messrs Ward Co have advanced such
enlmas required II, the fail par amount the deposit
Of lhese bonds The Company WI pay Them any differ
epce between the par amount paid ana what they may re-
sbze on the sale Of such bonds at auction Otherwise
The whole amount which thus passed into Mesars Ward
SeISo10 and on The let February they had realized
Guiding $4,000 sold al auction Ia January The sum OF
Sa0 Since then the sale has not been pressed and
Inc 7th inst sS9 remained 10 their hands which, tbs
reooest of he omp0ny ioR be oi at AUCTION at ne Mey-
ssss IL Tespeeifaily called to such sale
nw thus be seen that sl,7i5Oo Of these bonds have
been deaiev dsOssd Of by reference to the Toessu-
rers ssiemenis at tho aggregate charge of s2l24 So
which covers loss OF Interest IRON the ne OF issue until
The sale and the expenses ofthe agency TO Europe y
Se found be only about and resghhs cent the
,emslns only 81 $40 COO the first mortgage bond.
10 be Issued which constitutes equivalent half the
cost OF extending tbs road from Pougnkeepsie Albany
sher paying existing claims and Tue cost Of second tack
rzed viii remain TO be istued under second mortgage
f S os dss6 e seon be e found as
In future the Of the Company clear Ia regard
fe negotiation Of ts bonds The acts OF the last Legsla-
al ,IH NTcnlfy IN that res
Asto the issues Of bonds by this Company hitherto the
Board have hesitation In affirming 10 the stockholders
the public thai all have been under one or other Of
F,st On The payment by or for the obHgee Of the full
smoon, In cash on the delivery OF the bond.
stipulated be paid for in bonds when performed de.
Ss~d. For payment OF cash demands on the Company
Ana ,ST,hsr that all commissions charges for nego-
t.,ns before mentioned have beennyarabiy paid third
The Bosrd last month"; publ y announced to the stock
holders ha was their inenuon desiae from OF The
o,,snsy ssep-ihat which stipulated that interest on The
ock shoul be paid semsnnusiy MI the road should 81
pui Ia operation Albany aud that halfyesrly dividend
ofnie eat would be paid hereafter in stock instead of
Dey heretofore In such communication u was STATED
that The IN delay finishing the road the enhsncet
sos bevopd The original estimates and the depreciation h
the market Of me stock were the causes which led
mis- deter minaiion, by which II was mpacuesbe to
npe sueh payments without resorng sale " the stock
At rsea proceeding which It IL evident hr
Legislature did not eontsmpla when Ia granting permits
sio TO issue The paymea Of interest during con
ruc,on they imposed III rrsdcuon that part OF tbs
capital except that authorized by this section shall appro
priaed TO the pa, men, of interest"
dividend Of 81 per cent in new stock will therefore be
made 10 stock The 10Th prox. and the half
yes1ly III reaner l the road open Albany The de-
mand for fractional amounts of shares will be paid IN a
lion into full shares sufficient presented a.
surrendered All VIII thus be placed equality, and
hote whose convenience or jadgnent may dictate sae Of
their dividend stock, viii have an opportunity ofdOing
The Board have been gra6ed to bud thai hough this
measure pnoduced some surprise ana dissatisfaction first
Laa Agra Main ta.ia
don OF large proportion OF the ssckhoders II being
found that The change had 10 ee.t wseve on iis intrinsic
value and thai n authorized by the charter OF
stock at reduced price would In real " have been
aeH % re n%ssd .
the Board aterwsrd msdo 900 tuns OF
price Of Is So sterling per nun to be shipped 90 as 70
arrive here The present Sprpg The agency TO import this
hon was committed to Messs Taylor Merrill OF this
city under agreement that they should advance the cost
and hold In bond for nine months sfer arrival freqlrsd
II In the ooarfe Of arrival and deposit In bond
far OF thsl thus deposled exclusive of import duty
&S4 80 per tuu. which, owing to he high rate OF freight
prevailing this season, IL about 81 per iln more than
ane paed when The purchase made but win sill be
AZ The price which any road county has
subse Quenty msde for like additional quantity at an
advance Of 20 Cd sterling per tun, which will be- ship
ped Immediately seT the first lot and expected thst
heights viii decse SO that This will be laid down lowsr
thsn the fret contract Messrs Griunell Maiun 4 Co.
have the agency for the parcel The ssme
terms agreed for tho other and have been
made for storing II 10 bond On the line Of The Road this
These purchases were made under expectation thai
the duly iron would be raised during he present session
OF Congress Whether II " III be not, the Board feel
pesusded that they viii prove part OF
Inc iron 10 CURED for laying portion OF the double
mach betwt This CiIy and Peekskil Ii will require fur
Their purchases Of this article 20 the extent OF 2OJ 1900
tpps ory TO complete double track 10 that place and
aims le track from thence Albany. IL the double track Is
extended from Peeksku to PoGghksspsie, 500 more
viii be requisite
Nothing yet been paid account Of these contracts
for iron.
Nbeing found very Sler business the road COM
eneed the grounds provided Thirty6 ssL sta
lion to i've accommodation the lease Of
lots Of ground the side Of the Tenhsvenue on
Thirieh and Thirtyhfsl adioDing, taken for
tenn Cf years ground rent OF - rs the aggregate
but 81 had be paid obtain possesson aom pre-
vions lessess
Furher provision for stations City has since bean
fouud eessary and particularly for passenger aa.
q the ,erunus Chsmbersst where svsaabe block OF