The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-08-04

suoces6sl very goodif not s pretty god as II nlgs
have boon worse Wall stxaet value regulated sAtrs
~ supply and demand The question In that lattuS
Is what stock will bring and what it is wsrth.-
he Are not al transfers Of stock after the oonpas
has gone into bankruptcy liable TO ssct Off bv the
oeiver court. the stock thus trausferred ;.
ionged TO party who was at the time debtor 10 sci
I'd In the case. for example of the North Amsric,
Tsust and Banking Company, nearly all Ne ptook suL
scbA Sas paid for in bonds and mortgages BY the sub
scnbcrs Most Of these bonds and mortgages rem.in.
unpaid at the time the company went into iidui1ato,
consequently all the stock transferred afterwards b.
these subscribers would be liable for deficiency pay
mept Of these bonds and other words theI
would be set Off by the receiver Of said ndsbtc iAsS
against such stock thus transferred if the first inquiry
Sd Chancellor waiworth when In Office refused to al
low transfers of this Stock perhaps with the view
protecting the unway BY what authority has transfer
since been made, If made what law annuls the right
Of set OFF, in case any stcckholder at the time Of th
failure Of said company was debtor to 1t?
subscribed for $l00 600 Of stock for which he pMe
IN bonds and mortgages which proved to DO worthless
IN whole or in part or the payment Of which he rcpud
which forms the basis Of the stock specuatons In Wall
street
few of the original subscribers paid their bonds and
morfgsgors principal and interest but they formed an
honorable exception and If they present themselves for
~ on al inc Worlds FAIR that Is to be- they viii %
OF Jarndyce vs. JarDdycc. describes a. little old
who always expecting decision So it is with the
spectators in the stock OF the North American Trust
and Banking Company-they expecting a decision
1t seems not to have entered into the minds Of the
specuators that with the stock they purchased the liza
biy of the original holder Section 10 Of the General
Banking law authorizes transfer Of the shares The
language Is And every person becoming shareholder
by such transfer shall proportion his shares
to Nil the rights and liabilities of prior shareholders so
The receiver creditors may invite every person be-
coming shareholder to step 10 the captain o.
fee and pay the liabilities of prior shareholders
1t appears from the report Of Captain Simmons Royal
Engineer to the Railway Department of tho Beard Of
rade that the number Of passengers travelling on ran
waysin England and Wales which, in 1850 amounted to
reached 10 AL l79 in 1851 showing increase
Of 20 cent while the receipts from those passengers
rose from fs COS to being increase Of Is
per cent. The mean length of railway upon which thi.
traffic was conducted had increased in the rer0
only 60 cent appears that in the preceding years
Tor which returns of traffic have been prepared the
annual increase in the length Of railways in England
and Wales had been q per cent being more than thros
times the rate of last year, and that while the average
number Of passengers has increased annually IL % per
CENT the receipts from passengers have increased per
cent Hence it would appear that although the RAN
way communications in England and Wales have
in the past year increased at rate much below ~
average (being about third, the number Of pas
sengers has increased at rate nearly amounting to
double the annual average, and the receipts de-
rived from them at nearly three times the ordi
nary rate OF increase The number of passengers in
the last year has exceeded the number which would have
been conveyed by railways If they had only increased at
Vie ordinary rate by $500 Co., and the receipts fsn
them in the same manner by f6S7 1885, This increase il
in great to be attributed to the vast facilities
Tor travelling afforded to the public by Of excursion
trains which in 1850 had received great impulse but
was developed in extraordinary degree in the past year
during the exhibition The length Of railway open
for traffic in Scotland during the year has increased
per cent, while the number Of passengers has only in
creased from 91 to per cent and tho
cent The mean length of railway open for traffic in Ireland
during the year. has increased 12 per cent while the
number of passengers conveyed has only increased from
549 COS 5 per cent the receipts them
having risen from f339O76 to 6o3 per cent In
England and Wales the receipts for goods have risen FROM
f5 4so771 to co o44 1S3 1913 per cent in Scotland
from f721176 to fsl4o53 12s per cent; in Ireland
results of traffic all the railways in the united king
dom show that the aggregate number of passengers
veyed in 1850 amounted to 72s54422: in 1851 to
095 being increase of IL 500 673 or II per
cent The receipts from passengers in 1850 amount
to f6,S27 ,7ol in 1851. to fT 940T 64-showng in
crease of Co.'S or 1853 per cent The gross
ceived for the transport of goods amounted in 1850
crease Of f6797ss 10 per The gross revenue
Of all the railways arising from traffic of all descriptions
which in 1850 amounted to els 2040 Cos, amounted in
1851 to Eli99 450 very nearly $4,000 0ooshowing
increase Of 81 1902, a9l, or 1875 per cent.