The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-11-29

TOTAL ABOUT.
There good many more items Of the same sort left
They win gradually be developed, and shall in
own time, show that much larger sum than that
first named has been drawn out Of the banks OF this
city, in ways similar to these practcsd by this Mr. L.
North.
Mr. A. g. Ncolayt FIRST suction sale of stocks will take
place Thursday next at half past IL O'Clock, at the
Merchants Exchange It is his intention to have regular
sales on that day Of each week.
In late number Of the Phadelphia NortA american,
We 1t announced that the Southern Railroad Compa
n.y. OF Mississippi had made arrangements to dispose Of
its bonds to the amount of ST. 0o thus securing the
completion Of the road the State of Mississippi
within two years. Our attention having been thus erect
cd to this important financial arrangement" IS it
is called have looked in the condition and prospects
Of this Mississippi company, and from Official documents
before u.s. gather the following facts The report Of
the President made in July last shows that the amount
of stock subscribed up to that period $4o of
which sum, $l6S 0o0 taken by the city Of Vcksburg
The section of the charter provides that five per
cent Of the stock subscribed should be paid in the
ganization Of the company Ave per cent In six months
five per cent in eight months thereafter, and like
in twelve months As thecompany was organized in July,
1852 there should have been received prior to July last
twenty per cent OF the stock, $4,000 It appears
from the Presidents report that up Its date there had
dsacstion the part Of the subscribers Of SOS $780,
nearly eighty per cent of the amount due The truth
wonld to DO that but portion of the frst install
ment was paid And, in relation to that pay
ment the facts anything but creditsbe to the
pany. or the amount paid In (Sl6,s5o) the Of
So from the city OF yicksbury realized, 1t Is
sad by the sale Of its bonds after having been endorsed
by of its wealthy citizens This would leave $50
the amount paid by private stockholders while the
due from them So, 100 They thus in default
to the amount of nearly thirty per cent Of their
dues their Hrst nstslment. Whether the "resp H.
BILE company" which has purchased these Southern Rail
road bonds apprssd OF these things we not pre-
pared to ray,
It is also further provided by the charter that unless
Ave miles f the road shall be completed by the first day
OF January next the company fofeits its contingent
terest the small bonus given by the State and all It's
expenditures. The entire road In that event. forth with
revers the State 1t Ia made the express duty Of the
emit to enforce this provision Of the charter As
the company has not Jet contracted for the
srucon of these Ave miles, it is impossible for it to
avoid this forfeiture No relief be expected from the
legislature that body does not meet till the hrst Mon
day Of January next What security then have the pur
chssss of these b nds that they will be redeemed
ance the treasury July last of 3d. (probaby
long since expended) and the unpaid STOCK amounting
to SON 1894 O00 from which It Is morally certain looking
to the facts above stated that scarcely dollar will
be realized II strikes U.S. them that the respectable
company" referred to by the North american has entered
into "anar cia arrangement which be considered
orant only 1t will in all probability involve IL Ia
heavy loss In connection with this subject
the following from the Brandon Mss Republican Of the
18th ult;--
We have understood from reliable authority that The
proposition tai $50 600 in the Southern Rail-
read was rejected by the people Of Scott county
hrse aority, last Monday The friends Of the road
however feel assured that the amount be obtained
by private subscription that the interest Of he enter
f. plss viii not outer By this popular decision.