New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1853-05-09

u,. expended or In the amount Of stock subscribed;
80 tbs the project itself OF questionable expedieney
om the probable construction Of other roads which ~
fhe sdnzsion Of all parties would render ths AOo'7 CUM
The loan ws consequently taken out Of the market and
ne sunnosed All idea Of egOtiaBg II abandoned We ind
howsysr that we are mstak en-. The project was with
drawn and has been suffered TO remain quiet I'll i Wa
hoped the fact Of the previous attempt had been forgotten
co., Iris scbere upon the market To meet this a.
aeront We will again state some Of the objections previous
Nv urged against the soundness Of the security when first
offered"
The 0nal then proceeds 10 say that the latest exhibit
of The affairs Of this Company issued in October 1879
which contained nothing 10 show the value Of the work
done or Of subscriptions 10 the stock which tor the
mos, part CoAfr0cors Stock which instead Of being Of
any value basis Of loan merely represented aHtie'
pot<d Pyefts."
Amer stating very clearly and roundy what Is and ought
fo BE- considered sound basis for loan, and showing tna
fs Company does not possess any such basis and say
ing If the Tene Hsue and Alton Company can oorro"
money their present condition everything Ike SAFETY IN
railroad negotiations is at end all the schemeFs VII
have to do in future Is 80 get up plausible story MAX
show Of work upon line Of road issue bonds Tor ten tunes
the amount expended to New York sell them pocket
the proceeds 20 California some equally safe place
The article concludes with the following in which con.
cur fully
with regard 10 the project itself apart from the at
tmptsd negotiation Of its securities have but little 20
say II is well known Of tho schemes under the
Old State policy" 1t has been the principal means Of de-
fsating the line rom Tere Haute 70 ST. Louis work en-
ineDty csled for by the wants Of the entire business and
travelling public, and one in the construction OF which
more than 10000 miles Of railroad directly Interested
The objections raised that il the ralgh line should
be built the Terre Haute and Alton would DO wcrihiess
This was the argument used and 90 an eo was MAKING
20 build Tho ne the Legislature declined to confer
upon the Ffr0f0 line project any additional powers not
given by the general Railroad Law. IL was admitted on AL
hands however that the construction otbe straghtne was
mere question Of time and postponed At all twasfor the
purpose Of enabling TIE Tee aute and Alton road to get
start No sensible believes that the State system Will
be persisted in permanent policy The moment 1t -
Abandoned the crooked line falls 70 the ground as matter
Of course II remains be whether capitalists are
going invest their money upon such slender support as
bs We have idea they w soon as the facts OF the
case become known
again it is confidently claimed that the TeTe Haue
and 81 Louis Railroad Company competent 70 construct
their line under the general railroad ay Of the state This
company proceeding with the work OF oonstruc
sion The hcO roads certainly not wanted Would
not be wise fer the public to stop and see whether the
Straight line 10 be built not before rsking their money
In any doubtful enterprise =
The receipts Of the Albany and Schenectady Road