New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1853-01-01

growing for the last seven years, wan casa succeeding
summer more ard more place o. iavorite Te.or nd
: ,hs nbahi,srts OF Babel Mr.. Montague WhAleboae
,',h an eerly liking 10 the place end saIt row q
gcoGly houses hy thc wstersda and grand hots q
lie end Of the few stuaps OF plichy stakc' disnnd
I by the Rsine Of the pier. ia, inc ho'oi sSxd cn
,c,ners ARD tie houses vented cDais and the wio.
sssir threN.cned to fall prey 10 rrer'og and niex
whom the Bs,c end LOwiycr steam Navigation Cosu,s
nv cs,ne 70 the rescue Sni placed upoa psroashi
ard exrsrsivc ootng. OF the Original consultation q
,h;s s,,, of,paIv II not easy say suything VIII
certainty All we know i, tast, some seven years a.
twas currently spoken OF in pftysie circles a. cupid
investment i'- money sn Ppm, ,S, Ds a.. ss
We IN be real c liz building four steamers and RIA
ming them bctw EN- Babel sn1 lowriyer UPonthe ne,
hotpressed prospectus, pgiVaieiy ana -la'sy crcis
tciIt wss whispered that was too good thing 10 -
beScinC-s luesT eli the nsmcs OF Ert.lis noo; Esr,
Of Disuoid Wharf; Of Montague Whslce1ne' Esq,
Lowriver; of lorboari Starhoard hs,l. Sp omti@;
and Piston Rodi. ESQ, OF the hfm OF b)H'r hods
euoine,rs as directors The shares wege lse0 esA
lsble 10 calls though no calls were snuctsted ami
was r-ckone,i enormous iHvor 20 GIT theh irsnc
in shares ,.iscorDenanced; the cosnpany mad ~
wish TO be regarded cluster at spc'tlstors ba
rsther as band of hrotherS, cooperating togefoor to
their common benefit o. coursc, the necessary iega
iornsltes were gone through-thSt could not saiey s|
IN spe Of the difficulty Of ob,sinng share P-eg
largo number Of them got into the hands os the rpt
able portion OF the public, and The who'c were SOFA
taken up The boats were bult by LHhoard S'aroose
ESQ; and the engines. matter OF course, were pa
on board by Messrs. Boiler 4 Rodd; Erebus Csroos
Esq supplied n. the current rates the necessary iue
and at al hours Of the day the vessels rem nsekwa
and forward, carving customers to NJ, non'sga'
Nhslehtnas hotel and dodgers 20 the new 's'f'heue
which socu began TO Use around IN al uisvveos
Iowtiycr took afrgy, and rose rapidN IN paohe o.
,,a,on tho bosts 6cd we'll and the spscnstlon prom
sed Great ,iiugs When. however after several momas
deyrtnc pcTiiy the shareaodefs began to o<
for SOME return for their capital IN me shape OF d
,nS eseb cnc OF item was individually surprised By
csl IS share wanted 70 clear ofurgcnt rrspoa
sb.ies The Quitting costs had been greater thsa
WAS forcseen and the demands upon the shareholders
were not likely 70 he limited 10 the first call Tae vie
tins rushed a. they were invited 10 do, 20 the office 10
inspect tie accounts. The engineer was there 10 re-
ceye them, aud, all sua,ry and politeness, submitted
every and figure 90 their Investigation. There wa
nothing to be found fault wth-eyerythng was fairly
booked but there heavy balance dead against tho
company The engineer himself pu, long face apoa
the affair, and shrugged his shoulders, and mumoA
something about having burned his own fingers Sc
After this reports soon got abroad very preudiciah
the value OF the investments. Then came the winter,
during which few passengers Travelled 10 LowrNer ana
with ChIstmcs another Is call People grew ured
ot payne 10 pe- cent for nothing, snd many foretci
her shares by suffering them to be sod 10 pay me ess
This game went TOR nearly three yeartsu caiis
End no dividends until az length t would have oees
difficult 10 ind i've persons OF the original 800 who
held shares in the Babel and Lowr.ver Stream Nsvg&
ton Company and there was next to nobody c"to ess
upon -. L,,
into popular and popuous marine summer residence.
Mr. MontsGuc Nhalcbone, who know what he W"
al Ut having hCus lat AMI leased the Oldg ground hm
become the owner u vast property Increasing In value
every day LGrboGrd Sarboard, ESQ, Is ON The way to
bee, me mioI jre. aud has several new boats buiin5
for ire conlpanys service ut the present moment
Messrs Boiler Il Rodd have quntnped their establish
Iuent and are ia condition to execute goycrmnni
contracts Eicbvs Carbon, Esq has found market Ia
the company hundreds OF thousands oil tuns OF coat
and from h cing a solitary wharf has b. be- the
ov ner OF a l6ot OF golfers. At this hour the company
consists OF tx indyiduas-the four Original proloctor
and couple o. old codgcrs-k knowing hies, who hal
the penetration in the beginning through the bear
inc dodge ard would not be beaten or frightened on
They paid up every cs upon shares and bought Others
and thcD by showing bold front, asserted voice ia
the anae eiuent and crushed In 70 full and fair share
OF The profits They hive made solid fortunes by the
o. ecuia,on; while the original Shareholders whose
money brought tie company into existence have reapat
nothing but Osces ana yoKston Ia return Tor tAeLf
capital I'll
But enough and moro than enough. on the score
the desve iarces which with prctcnces almost trans
parent the above from time 10 time played OFT ot
tie puposo OF easing the public OF their super1uos~
cssh Let us glance briefly at spccusfo Of dihef-
eut kind, lees bubble as IL proved but whose
tragic isucs have already wrought tho wreck Of many
innocent ianier, and which, at the present momeu.
under the operation Of the Winding up Act, Is darkennS
with ruin and the fear Of ruin hundred humble eboie
We have good 10 know its history well nM
we shall in lev words possible present the facs
mort import 10 be known to the readers considers
on with the view of intoxicating caution by the mls.or
tunes of etheIs and showing at the time how poe
sble IL L. under the present law regulating jointstock
partnership tor honest man, by the most nsfverfeDf
vet, to entail misery upon hnseli and desution upon
his offspring.
IL is some fifteen or twenty years ago since a company
Of two three speculative genuses issued plan tot
establishing. in delightful glen, situated but few miles
from we'll known WelAh port Ia the Brsto Channel
brewery upon an extensive scale The propecfus ass
matter OF course promised 10 the shareholders The usual
golden advantage. The crystal current which NEAR /
dered through tie valley to be- converted into mst
hquorso great were the natural and artificial siyap
tsges which combined 10 effect that rcsul,t one hai
the cost Of such Transformation in any other Local
ty and the liquor produced be Of -uch an ex-
quite reish ana potency, tina; nil Britain was 20 CON.
pGte for It's possoss!on. so plausible was everything
made to appear that men OF commercially acquired fOr
tune Of the greatest experience, and OF fonzriod ude
m,nf invested their capital in the fullest CONFIDENCE a
success Following their example tradesmsn and cn-
ployers did the and, IA Imitation OF their beter
numbers Ct perrons oil the closes OF small shop. !
keepers and GhOrng mep invested their small snyin
shares In the Romo,tic Valley Brewery" The ninp
Der o lontpropretors amounted ia all 10 Ian.
dreJs, holding 70 shares in numbers prOporioned
their mesn5 or their spesuaiiyc spirit Not one In 6y
of them knew anything Of fhe art Of brewing hsd sy
knowledge OF the locality where the scheme was b bs
carried out but doubt entertained OF the speedy
and great flcccts which was promised. II
The land was bought the necessary buildings were II
substantially erected and the three principal concocter
0l inc .chemc, one OF whom was lawyer, weresr |
pointed 10 manage the concern and empow cred to Dor
70" money ~ Gaze AZ should be wanted to complete the
plant ana 70 work until the profits in The!
hed every advantage Tor the production Of chcsp and
superior article: labor, and,caniage AMI waterc1.
rhge, were oil Il low charge in the neihborhood and
inaiesls upon toe whole reted rather under than
TIE average Year E'tcr year. however passei awsy.
eEd not arthing Of dividend came 30 the sharebie;
promises only OF large protts NJ some future period-
thet was elI hhppene thar the shareholders
bad inverted airy very large sum- aud this was though
fortunate cucuiDsfance, none Of them felt yerJ II
deeply involved The rich had speculatsf with their
s"pesnGify tId ney could bear Joke on the subject
dhie Romantic valley, though they shooA their hesu
WHEN TIE suppos'd value OF the shares wa, binted a.
Tho poor fen more and Of the modest .oi
tier single shares or haltshares tcrrbl, discurt
"nie they Wouio yet realize SOMETHING A time rod
a"ey, ritii the 70 u her property the Juianc VI II
ley Brewery ftsrcj 10 their friends and rostiyes ii
eonsidarhie bomber Of them tau passed away fron
ne .' hoio'rs % the hands Of others, snd all
,rhf MT D., II. L.. II