The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-10-31

dust at this port from California within the past week
have been upwards Of two and half millions Of dollars
The sub Treasury has dsgorged about half million Ia
the face of these movements the banks will probably
show on nday about the amount of specie hand
as at the date of the last report
There win be very large sale OF bonds stocks &c. at
the Nerchants' Exchange Wednesday, Immediately
after the adjournment of the first Board Of Brokers' 1t
viii no doubt attract great many capitalists and out
side purchasers generally.
Tho stockholders Of the Manassas Gap Railroad have
authority Of the President and Directors to make loan
Of 5000 OeC at per cent payable semi annually and
reasonable twenty years This loan to insure the
speedy construction of the road to Harrisburg stock
vote having been taken 1900 in favor and l53 OPP
posed to it.
In note addressed to Commodore Vanderbilt BY the
Nicaragua Tnt Company, he is invited to proceed With
his suit by attachment against the line Of steamships
employed in their busne which are Ostensiby repre-
sented belong to the Transit Company From the fol-
lowing affidavit appears that the company have mott
slightest claim to vessels forming part of the Nicaragua
line between New York and California. On the 18th day
Of February 1853 Mr. j. D. p Ogden made oath at the
Custom House follows
I. James D. p Ogden Gideon 7. Snow and Albert NJ. |
Wright and the survivors survivor of them each
of them citizens of the United States and the true
and only owners of the said ship vessel (viz of
the steamers which Mr. Vanderbilt advised to libel IS
the property belonging to the company that there is no
subject citizens Of any prince or State directly or ndi
recty by way Of trust, confidence, otherwise inter
ested therein, or in the profits or issues thereof.
The above custom house oath shows not only that it
would be worse than idle attempt the part of Mr.
Vanderbilt libel either Of the so-called company's
vessels but it also proves that debts Of the company
have the security of this their only osensibe property
inasmuch hefsrs. Ogden, Snow and Wright are the
true and only Of the ships vessels The COM
pany Is therefore, either existing under false colors
have property independent of their transit privilege
In the act Of Congress prescribing the oath which We
have given above there the declaration that cas-,
any mattV of fact alleged in said oath within the
knowledge of the party swearing shall not be true ther
shall be forfeiture of the vessel Sc the value there
for be recovered with Of suit of the person or
persons making such oath. This presents new difficulty.
While Mr. Vanderbilt cannot tattach the vessels as
the property Of the Nicaragua Transit Company,
they may be res ched and forfeited to the United
States through some meddng informer. The latter
difficulty could not occur provided the company have
interest in the vessels and have right to conclude
that such must be the fact the oath conclusive
proof that Messrs Ogden, Snow and Wright the
and only Thus much for the proposition Of the
company recommending Commodore Vanderbilt to libel.
by the way, it strikes that Mr. ]. d. p Oglen, Of
the individuals named in the above OATH is the Vice
Mr.. Snow is, or until very recently was director
1t our impression the moment the central line o
railroads through this State established that Ger
tain parties intimately acquainted with the finances
Of the different companies, would quietly get iil Of
the stock We so stated at the time, and predicted
gradual but steady decline in the market value of the
stock Our prediction has been literally verified Soon
after The consolidation consumaed the stock opened
at l25 per cent It has since sold at lo5 per cent It
will eventually touch par aud perhaps below that point
There has been any quantity of all sors Of nancerina
arryng out this scheme by Of largest railroad
capitalists whose sole object has been palm oil upon
the community stock of unknown and uncertain value
upon the strength OF The high premiums ruling f,r the
stock of of the cong forming the nucleus Of The
combination. The Hartford Times of the 25th inst gives
the annexed remarks in relation to the frauds practsed
BY certain clique of Spectators
very remarkable game Of fraud has recently been
played in Wall street in the stock of the Central Railroad
This has the largest capital of any railroad in
the country its stock amounting to 1913 OS5 600 and its
bonds about SO goo 000 This is the company which
formed by consolidating the various lines Of road be-
tween Albany and Buffalo into interest embracing
double track railroad from Albany Syracusc two
single track lines from thence to Buffalo, them pas
sing through Canandagua and Batavia the othe
through Palmyra and Lock port along the Erie Canal
Niagara Falls and single track road from Troy Schs
nectady The bonds issued to pay the sockholier
the premium their old stock AZ its current value when
the consolidation took place A fictitious capital Of
about st0o0o0o also added TO the stock to repre-
sent line not yet begun between Schenectady and
syracuse line equal in all respects the present one
could be constructed al half the represented by
the stock aud bonds Of the Central line, which exceed
s3 Geo The dividends of this line must be earned
and made not only its actual cost but also It's pre-
MUM bonds and large issues Of fictitious capital
The baud praced consists in the false exaggerated
statements OF the receipts Of the line which been
published rsm time 10 time in the New York papers for
the purpose Of giving the stock fictitious value and in
ducng people TO buy II on false pre.ences The Tribune
stated that the receipts Of the line for August amounted
TO $685. (0 and that for September they would exceed
500 GOO Similar statements made In THE New York
Tines few DAYS since the latter newspaper stated that
the earnings Of the Central line are almost inereiible
The receipts from July to October inclusive will be over
two and half million OF dollars the net Of which alone
would give Eve per cent dividend On the strength of
statements like the foregoing thousand shares Of
the stock had been sold by the managers and those whs
behind the curtain to unwary buyers at prices
ranging from Sl2S down to SIP per share. About 1000
shares Of the stock bought by various citizens of
Hartford the strength OF the large reported of
the road Tie pr appeared to he cheap for those state
nent true, Jroved the stock to be good for Ten per
cent dividends.
After the schef had been done and the pablo duly
gulsd the Albany Erning Journal the organ OF the
sgers out Friday last, the 2lst, with true
statement Of the earnings Of the Central line for August
ard September II states the receipts Of the line for Au
gust to have been only S4SS 1876 instead Of $500 600
ported by the Tribune and Times and the receipts for
September at s5G s2 instead Of $500 co., report
ed by the T,ibtne
The increase over the same months of 1852 turns out to
be only $49 000or Just half the increase which the
receipts reported in the Ne York papers would have
realized The rec. pts for the four months from July to o.
ober inclusive nsteid of exceeding two and half million
OF collars, stated by the New York Times, WI. barely
amount TO two millions. The false statement of the
ccps AIDE the stock fully ten per cent stock the true
statement shows II 10 be only eight per cent stock,
making difference Of twenty FIVE per cent In its Intrinsic
value out Of which difference those who bave bought tbs