The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-03-05

We may now observe an oscillation commencing thai
the result, In great measure Of the srtioois
impetus that has been applied to force them from
their normal state. The worst Of these reactions H.
that We never know where they are going to stou
Stocks which, II they had been let alone might have
quietly remained ct . nominal price, somewhere
near their prospective not their actual value IL by
dnt OF maneuvring they are forced up price that
tempts their Oldest and nrmes friends to sell out ara
found to be thrown in such quantities upon the street.
that like the dove let out from the ark they wander
about long time before they ind resting place and
finally have to return from whence they started In
order to find home
The decline in Long Island Railroad, at the second
board Saturday, and the frat board day Is OWING
to the injunction that Is stated to have been Issued
upon application OF bondholdsrs whose claims are
part DUE and who refuse to make the conversion upon
the terms proposed 1t high time that this question
should be settled and glad to learn that certain
holders of the bonds Of the Reading Railroad have
In contemplation to test the matter IN the United
states courts. The result cannot be doubted. o,
the late action CT the Legislature of Pennsylvania,
In reference to these bonds, Is clearly unconsttu.
tonal as 1t Is subversivs Of all good faith ana
fsir dealing There is no provision in the constI-
tuition more clear and express than the one that pro-
hibts the passage Of any by the State legislatures
which shall impair the obligation of contracts When
this matter lie decided there are many compsuie
now dragging out precaricus existence by stsvine o
the payment Of their debts which necessarily be-
forced into the hands Of receivers order to give their
creditors chance Of obtaining at least portion Of
what Is due to them. The bondholders Of the Long
Island Railroad have been the first take the lead inn
thisimportsnt matter and have doubt the suffer-
ers by the thimble.risging conduct Of the Reading
Railroad, and other companies similarly situated VIII
not fail to follow the example.
The receipts Of the Harlem Railroad Company for the
month Of February IN each the pact tive years were
annexed
1850 Total receipts from all sources .$2oase 10
1875 10. 10. &C.. $50 90
Increase, 1850. Observation-Disclosures $3.50 Is
This Is rather poor exhibit The weather through.
out the month this year has been unusually as and
favorable Tor railroad tras and probability there
fore H. that had the weather been similar that sxpe
fenced during the month in 1s49 the recsiptr
for the month this year would have been lees. The
Harlem read appears to be In q bad way.
The earnings Of the Erie Railroad Company for Feb
ruary, this year and last, we're as annexed
NEw York AND ERIE RAILROAD.
1850, February. Receipts from passengers. st847l -
on freight. 80. 6s,7A AZ
Total. .$102,2l2 OIL
1sAs, February. fetal receipts. 4s,5o5 o.
Increase, Feb 1850. .......... S5s7l7 90
Unjust be borne in mind, in comparing these amounts
that there many miles OF road In operation
in February this year, than during the same month
last year.
Mint certificates Of gold deposits to No. 279 incla.
sve, are nov payable at the Mint in Philadelphia.
learn that the trustees the loan ofthe Morris
nal and Banking Company have given notice Of an in
tsnton to forecose the mortgage under which said loan
SHIELD The foreclosure will take place the 18th inst
This will be the commencement of legal contest he
tween the bondholdes and the company which cannot
but be disastrous to oil parties except the lawyers engs
ged Here win be another job for receivers and there villa
be good pickings for that class suckers Stockholders
in any might well abandon all hope of ever
realizing anything, the moment a receiver gets hold o.
the property Of the company.
The annexed statement exhibits the quotations for
foreign ard domestic exchanges for specie and for
current money -