The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-01-01
co N N EBClAb AFPAlRS.
HONEY MARKET.


There was comfortable excitement in Wall street
this morning in consequence Of the announcement In
yesterdays HeroI Of the dscsion Of the Court of APP
p.als in the case Of the North American Trust and
Banking Company, and holders Of the stock hardly
knew how to act. The effect the market price OF
the stock was much different from that generally an
tcipated and there large sales at decline OF
four per those ut the close on Satur
day. Thirteen hundred shares changed hands at the
FIRST board and about three hundred at the second.
1t closed advance Of two per cent the lowest
price current the frat board The stockholders
very disappointed and recent purchasers will be
heavy losers The decision amounts to just nothing
at ALL 70 far the stockholders concerned. 1t
Affects the bondholdsrs and IL in fact decision part
ly sgsinst the bondholders, without being In f.
Of the stockholders. 1t merely annuls the
trust and places the shareholders secured BY that
trust upon . par with other creditors. It does nos
vitate their claims In the least. mountain in labor
brought forth II holders Of this stock had
taken advice they would have heavier pockets and
lighter hearts New Years than they will have
The decision in favor of the Dry Dock Bank has had
very favorable effect upon the market value of the
stock In this che Court of Appeals reversed the
dsoion Of the Supreme Court in full. The amount in
volvsd this decision IL about 900, with several
years interest.
There considerable activity In fancy stocks
generally to-day; but prices With two exceptions,
remain without any material alteration. Reading
Railroad improved eighty and the transactisns ~
well as ell Of those In Harlem and Farmers Loan were
time. There more doing than usual in govern
nent securities. Long Island il dropping, and the
Of the road appears to have had rather
unfavorsbs effect upon the price of the stock
The following official notice Of the mortgage must be
particularly interesting to the poor innocent deludsd
stockholders =
OrrIcE or THE Loro ISLAND RAILROAD CO.,
BRooKLYN December ~. 1849
,s S ShsS Knn tmtss mneu
their entire road and its franchises no, So for the
sum of Eve hundred thousand dollars to secure their
bonds obligations for . like amount payable twenty
y.ar from LIST January 1880 With interest six per
cent semi snnuay-lst July aud LIST Jsnusry-Are nov
Tor the present outstanding bonds Of the
company and request the Immediate attention Of the
mortgage bond. on the LIST day Of January
1850. to which oate the company win pay interest
change. MOSES MAYNARD, Treasurer.
To this complexion has this company como ct last
This Is the way all railroad bonds paid when they
reach maturity. The impudsnce Of managers Of nsol
vent railroad companies Is most astonishing. II 4
stated In the above notice that holders Of bonds must
present them and have them converted immediately
the interest the mortgage ponds the
LIST Of January, up to which date the company will pay
interest on the old bonds New We like this there 10
nothing like cool rank impudencs-snd the above 10
Of the purest and least adultersted Sort There 10
help for the old bondhoiders and they must step
up to the sompany once and settle. Its stated that
the Reading Railroad compsny have prepared an as
sgnmsnt Of all It's property to trustees In order to Be
ready for any difficulty growing out Of the move
nents Of holders Of bonds due January 1st 1850,
who refuse to convert them Verify this IL the age Of
railroad swindlsg. and 1t Is our impression that the
year 1850 win deveops some most extraordinary ops
rstops In railroad msnsgsment After this, should
thnh that would be the easiest thing In the world
for any railroad company TO raise any amount Of money
upon an Issue Of bonds railroad bond, Issued by
any Of our fancy companies, paid In fs in cash, ct
maturity, would be . curiosity.
The annexed comparative table exhibits the quota
lions In this msrhet for the principal stocks at three
periods during the year ending December 31st 1s4s
QuorArfors ZOE srocKs IN THIS NAsKEr.