The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-11-25


to the successful progress Of the work has passed off, 1t
has become the subject Of calm confederation and
ono will approve Of any step which by possibility may
impair the confidence in the community a. the pru-
dental integrity Of the administration management.
1t is the opinion Of every Interested and intelligent
creditor Of the company that the should be
placed in position most undoubted security that
they may longer continue Ia the anxious uncertainty
whether their claims worthless not The fact that
the per cent bonds, of various descriptions,
much below par with such large receipts has beyond
doubt had effect to serious apprehe nssu and
such has been the influence of this ambiguous and doubt
full of these evidences that capitalists
lend on them with the greatest dstrust this be wise
position for the company when another consistent
with the honest judgment of the public might exist
Tor the directors hereafter determine but in the ns an
time acting under the influence Of practical principles
which ordinarily govern the moneyed transactions
intelligent portions of the community venture
imagine that the managers of that great have
responsibilities of character far above those which
alone to be sustained on the foundation of equivoca un
certain and uvring policy In order to prove that
the company ought to be governed with reference the
permanent prosperity of the enterprise and therefore
that should be adopted nvadatiug the in-
tegry of ts credit will here state suc,inc aud
brief manner as the nature OF the will admit the
progress and condition Of the company and il we do
not show that heretofore the transactions have been car
red and sustained tbehgh pressure principle we
must conclude that there is reliance to be placed
figures but, should succeed in substantiatng what
believe to be truetha unless the future policy
company be directed with liberal regard to economy
in the distribution Of Its fundshe prospect of perma
nent prosperity must necessarily be extremely doubtful
We will, however, here remark II predictions
the dividends be correct that the community been
most grossly abused through the fraudulent msepre
sensations Of the steokobbing ntmates Of the COM
pany who carry their representations net only to the
distribution Of the usual dividend but openly declare
that the earnings Of the company will be sacrificed to
much more considerable extent The motive for putting
these statements anoat easily be understood and
whether false or true provided they be sdvsn
tsge and the imposition equally benefit Of
propagaors In the first place. imitation has been ere
sted and then In the event Of dividend the reaction
will become still profitable those familiar with the
secret dongs Of the direction have an opportunity to
take counsel from their information adroitly changing
their position from the bull The bear sdes fair and
honorable game Of loaded dice
The stock capital Of the Erie Railroad Company is
represented to be something S6,50o0Oo and it,
mortgage Indebtedness about SIS oco which, with
100000 floating debt make aggregate Of $2aSoo eoo
But this Is not the whole Of responsibity. There
are other obligations equally pressing and Of no amin
portant character, which intelligent sccouutant
as n msttar of courss ,-o,,a nat h..,,., a.. "A. A.. a..
,s.,. N' "oN.N NV .o~s~'o W ~oa " tue
general inoeotedness a. capital The company, for thu
purpose Of securing the travel to their road have as
sumed the responsibility of having sx.d r,,,,-.u
d,v,dana nm IN. NJ vi p.,..o p-.
ei'ueno On toeSew foik' Paterson, and kamapo rosd
and the road and steamboat line to Ithaca and Geneva
- ' A'0'''''! " p~iss ou' VI 'nef
- .-.-r~.. o. - ~ W ..t1e " 0o"p"
~ nv, ."u ~ emporium W ene incrcSse
Oh sces "nion the Erie mas acquired, they ought TO
charge tc their general indebtedness the carit which
r.. - 1t. g. ..-., -,
80. s 49,. sn' 'A..mu'n :" uney nave
MADE no engagement which does not include expenses
well - certain dividends On an examination of the
---.., - ->"A VI VIC
- 49, oAp =, ''e'poA''o"se'' inc urSen-
or double track to free the from sub.r
,...mart ana IN. .xr.r.. "a .,...... a. =
r., :. 49, .AN N'''U'Au' p" oe PAia W
oo'atera roads m easy to foresee that without the
most prudent and economical uanasem ant thsrs NAV
-, =. a,m.uuu y.....-.--.- 49,