The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-02-18
m o N l. Y M n e * II r.


MONEY aEsKET.
Tuesday, February 17-6 TN.
Holders Of Reading putting their stock upon the
market in srge lots and realizing fast they can.
Notwithstanding the depreciation in prices. The sales
to, day up than thrse thousand shares, and
quotations setted down gradually from the opening
the coe The back bone Of the market has been broken
and we may look for steady depreciation to starting
points Erie Railroad was comparatively quiet to. day.
ard there appears to be loose somewhere There
is only operator any craoce in the market and
hardly know what to think q his movements II hs
calculates to carry control all the floating stock he
must be much stronger ard have resources than
we have supposed It proposed to call meeting Of
the stockholders Of this company, to appoint special
committee to examine tie books and investigate the at
fairs Of the 1t i, proposed to make spp
cation to tie Legislature for the appointment of
special committee to look into the financial affairs
OF this immense corporation AID report the result
Of their Investigations to the Legislature II either
Of these movements should be made there would be
scpe rich developments Some years ago several
railroad companies In New England passed Through such
ordeal, and disclosures made that slightly
sstonshed the stockholders There several mines
Of MATERIAL In this community simlar to that exposed
in Massachusetts,, that would sstsfy both the bond
holders and stockholders Of RAILROAD corporations
to sink any moment Theirs is nothing like confidence
in these things Without it In the financial world 1t
would be impossible to get along There at this
ment bonds stocks, AMI si sorts Of promises to pay
called securities, floating about the market, which In
reality not worth fractional part Of what they repre-
sent and yet careful cautious people hold them and
sleep sound nights When ignorance is bliss is folly
to be wies, is y good maxim fer Wall street. We
shall urge this investigation into the financial operations
49, N
committee from the stockhcders from the members
Of the Legislature should endorse repudiate the last
report put forth by this company to place the public mind
upon proper basis There all kinds Of stories
current relative to the rc operations gross Income net
revenue aggregate cost &c &C. Of this road and
knows what to believe what to disbeeve Nothing
short OF searching examination into the affairs of the
company from its alton to the close OF tho last
nscal year, by committee appointed by the stock.
holders will be satisfactory The ansgemea. will not
object to this Many Of tbs directors we know will urge
IT. ard sid it all in their power 1t is due those who
have been connected with the company from its com.
nsncement that Thorough investigation ,hould be-
made, and full and comprehensive report made Az
doubts and apprShensions would then be confirmed or
put to rest and holders ard spectators would then have
some knowledge Ct the value u tho securities they were
dealing in
In our previous illusions to the Reading Railroad We
showed that the coal business Of the road this year had
exceeded that Of TIE preceding year 100000 .oas Til,
average received for freight l22 cents per tom thai
Of the year before 153 cents The depreciation In the
rates Of freight was so great that notwithstanding the
vast excess OF tonnage the total receipts Of the road
figured over s55coo less than the previous year The
average reduction In the twenty per cent and it
is Of course preposterous to assert tina. the CON-
pany could afford to reduce the rates to that ex.
tent. The reduction not contem plated Il
was not the result Of sound judgment or OF ealcus-
aticn, nor did II proceed from q greater economy
in the expenditure; 1t tho force OF circumstances
the necessity Of the which the directors had
no control, but which thoy would have avoided if they
could The situation Of this mining districts did not sd
mt OF greater amount Of freight being charged Nor
are the prospects Of the mining districts any better for
the approaching The treghts cannot be raised
but msy be further lowered This is the canse Of the
reduction and the origin the fo.oed bushes, OF tho
last season.
The hard winter bias girsn respite to the coal
companies The coal transportation over the ROAD to
the l2th instant los s5t tons, same time last year
2e4 512 tons-showiDs deficiency of 0s9 tons In tn,
nlss SIX weeks OF tbs season. If With tramp ortaon
OF over tons the read st the present rates OF
could net the income Of the previous year
that year having transport Of but $4,000 toa, what
hope con exrt that, with reduced tonnage such as Ia
here foreshadowed, It can approach the rcnsts., an
pesrance Of divdendl II was with dlculty IN. ro.i
paid moderate dividend ths rate CT l5s cent, nor
ION. Instead Of dividend the danger "a inmren,
mat TIE net income acy be insufficient 20 hquidats
me interest on is debt This debt Is no ordinary AFFAIR
1t isthe debt ofan empire Inst ssd of road Scarcely lac
net 10 length dependent its revenue And
ne Interpretation 81 assc article o. onsu mp.ioa
'he article one OF universal Eecse.ty but
hsS De fnrnshed through another avenue, this
fosd Is liable to have rival built at its vsry eide
ana constructed With ali the modern improvements AMI
experiences Tin railroad building ten years is an sgeb
or third Of the cost Of his road with thirteen
millions Of debt and Preferred and common stock leom
ng UP to the enormors aggregate Of eighteen million, o.
iollars. 10 elevate staok With these di,hearLon,,
'io'peets meen per cent s either madness or fol,e ar
.frapn BON Take tiihsr side Of The question thar
ah De Oily one conclu'iorrHia and disaster to ia
edos Nn our duty % sarn the public o. there ma
" 20 'el o1th The truth . ststs facts OF the comp,n
Nn sAoTing; and rockies peouatcrs induce tbs IN
osisedng ara unWsiy 70 Unite With them io THAR
ch'ms q corners and coruerng the cou,eouence. ~,
et On ther own heads. Forsssrntdis forsarmoa al
ndrr tae corfoitusness Il having but performed 80
MY, We ntc1t
me receipts al the cnlec X THE Assistant Trsssur
z" port today amounted % So l45; payments sas ~
. balance, 49, b7,Cp3 -
lhsIe has been bGt moderate inqairy for fore,cn
hanse Tor remittance by tho steamsh,o auroro -.
AYES ho'ton for Liverpool 70 morrow Drsvers
: our last quotations and the supply of hin, IN ~
s't CONTINUES about tho zane as prevouoly renort.d
9 quote On London at 10 aIOls per can, r,a,,,,..
iaf'', o. lo'i o. -; Amsterdam, 81. 4l,..
i.ner. 'sstfsi EsNgss. M7 sgA. r,,pty.,.