The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-06-02
n ON Re y M ARK Il r.

Reading Harlem and Long Island have been operated
In largely and large lots have accumulated IN the hands
outside SPECTATORS who have been induced to invest
in the last two named from the rapid improvement goiAg
on in their financial affairs. The advance in Reading
Railroad Of speculative character and prices
have been forced up by combination There doubt
but that dividend will be paid on this stock in July
but nothing is beyond that The earnings Of the
company have thus far this year been much larger than
for the corresponding period last but the probability
that the income for the last six months of the
year will be much less than during the period
1850 unless the canals connected with the coal trade
meet with disasters similar to those experienced last
year The Long Island Railroad Company has very
recently revolutionized its system of management,
and the best results likely to follow. Since the
road was given up by the receiver, it's fnancia
affairs have been improved its earnings increased and
it has been placed upon substantial basis in
every department The track has been relaid its mo-
tive power augmented and its plan Of operations more
regulated by the wants of the travelling community,
upon which is dependent fer support The judcious-
Of this policy already apparent and if the income
of the company continues to increase at the rate thus
far realized the stockholders will get dividend the
close of the present is cheap stock at current
prices and there such wide margin for Improvement
that outsiders have been attracted by the prospects of
profit, and made large investments in it, Harlem closed
yesterday firm, at quotations Most of the holders
u
nent investment. For many years the management of
this company have been struggling along amidst the
greatest difficulties Without credit and with de-
termned opposton without money, and with cliques of
spectators controlling its finances it has every
obstacle and by the force Of its superior position
and local advantages it has riump one
Of the most porous and productive railroads in the
country With one end terminating in the heart Of
the largest city on the continents city which
will hafora hal anfx
the world-wth the other end connecting with roads
thousands of miles in length extending the remotest
Of the North East and Wes-it be one of
the most important trunk lines in the Union In lS4c
this company paid two per cent dvidend in 1850 paid
four per cent this year-1s51-it will eight per
cent but will not pay more than six per cent. This will
place it at among the first class railroad stocks Of
the country and give the stockholders what they have
been so long and so anxiously looking for.
The important connection with the network Of
Northern Western and Eastern railroads, alluded to
above will be made ON the LIST of December next when
the company will attain what it has been long srug-
Cling for and there set Of stockholders en-
titled to large dividends and great prosperity those
the Harlem Railroad most assuredy of that class
We congratulate the board of directors and the stock
holders that they take their place am ong the
class of solid six per dividend stocks with good
prospect Of annual increase their rates of dividend
We see to doubt that the future will show
larger yearly increase than the past four years exhibits
especially as the road is dependent entirely on its
local business which, taking the first four mounths Of
each Of the past four years gives for 1s
149 s1i9669 for 1850 Sl32 and for 1851 Sl70s2s
The increase in 1851 1850 already $3S
to Is per cent This ratio Of increase throughout the
year. would give total of S635o0O without adding any
thing for the increased traffic the Of July on the
twenty-five miles new road then to be completed,
But as the Harlem Railroad run fhrou a alla
On each side with ranges Of mountains 1t has complete
monopoly Of the traffic of the section country through
which 1t passes For the long travel what il called
through business 1t Possesses all the facilities for carry
Ing on strong competition with other roads and will
without doubt on its completion to Chatham obtain its
full share When, therefore, that Harlem Rail-
road is, at this moment Elk per cent dividend paying
stock on its value and in view produce
tvere Of the road there be good reason why
the stock should be selling 20 to rs per cent be-
low par.
Canton Company has been rather quiet during the
past few days The rapid advance in the early part OF
the week could not be sustained but holders look for
word with confidence to the meeting Of stockholders on
the 9th Of June when 1t Is expected favorable report
wiz be made Erie Railroad stock and securities have
been gradually declining lately and there is such an
immense amount weighing upon the market that II will
be exceedingly difficult to sustain current prices Nor
r Canal Is more buoyant than 1t has for sometime
past We have not heard much recently about the con-
sodation OF the old stock of this concern but II is
y matter Of time The injunction is fixed aud can
only be removed by conforming to the special the
Legislature of New Jersey. stonington Railroad has
taken an upward start within the past day two with
out any activity in the stock The stockholders of this
company have not received dividend several years
and the prospect Is by very promising Nor.
wich and Worcester looks we'll It's earnings are wei
maintained and holders Of the stock appear to be salts
fed There IL no stock pressing upon the market, and
1t well known that the usual dividend will be made at
the usual time. Edgeworth Company, and Portsmouth,
Dry Dock remain without any material alteration A
meeting Of the stockholders Of the Edgeworth Com.
pany will be held in Boston sometime mon tn wh.
the dividend question will be disposed Of 1t Is stated
that the company have sufficient In hand pay advi-
dend Of two dollars per share but II proposed TO nav
It in the stock Of an iron tube manufacturing company
located In Edgcworth Portsmouth will probably be-
laid on the shelf for the present 1t will out again.
doubtless, in due time.
The shipments Of specie from this port last week
amounted to neatly and a-balf millions Of dollars
making the aggregate for the year up the LIST June
period Of five monthsnearly thirteen millions dollars
larger sum than has before been exported from
the whole county in the length oftmc This factsx-
cites no apprehension. We a gold producing, and
can well afford to be gold exporting country Gold has
become one Of staple products and its expectation
to certain, or rather to moderate extent is as i'm.
pcrtant the expectation Of portion of our crops Of
cotton, tobacco. II is pretty certain that we
shall get value received Tor II in shape and t
becomes distributed the world II gives activity to
every branch Of industry and extends the commercial
relations Of all nations The the precious
metals have lost that influence upon financial affairs
once connected with them, and are, therefore, COM
parativey free from those sudden psnics in the money
market which heretofore have been so disastrous.
The annexed statement exhibits the receipts and dis
bursements Of the Assistant Treasurers once, Of th
port during the month Of May, 1851 -
ASSISTANT TRsssrRrR's 0rrrcr, NAV 1881
April so 1s51-By balance s39is $50 %