The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-07-22
FINANCIAL AND CONNER CIAL.
MONEY mAKK Il r.


The stock market to-day not buoyAut at tbs
close yesterday and but for the effect prices BY tn
ansounc emsnt thar the Reading Railroad Company ha
ssaeluded TO pass the next semi annual dividend,
shsuh doubtless have bad brighter state Of things It
h useless however, expect more baoyans times until
Some Of the ,ha, now depressing the public
mind arc removed Holders of railroad stocks have
much 10 the habit Of receiving dividends, whether
earned not that any cessation causes much dsaps
psintnent and apprehension At this particular tins
she payment Of dividend gives rice to all sorts o.
suspicious and AL sorts Of stories easily get aaost In
relation the pawn emit Of the dividend by the
Reading Railroad Company, We see no cause for alarm,
bat on the contrary, believe it the wisest policy the
could under the circumstances, have pur
sued The stock will be in reality worth more without
the dividend beng paid than with it, BY appropratng
the surplus earnings Of the road TO the payment OF the
pressing liabilities the rates Of interest
paid the floating debt will be stopped, and the re-
Of the company permanently iuproyed II sese-
ral other railroad companies in this section Of the
try would follow the example Of the Reading we might
hopes Of these The Erie and Cen.
trail companies times CRATER for with
holding dividends than the Reading; but doubt If tie
management have the moral courage to pursue the
proper course. They probably will potter about, and
perhaps conclude postpone the dividends, with tho
hope that at futur. day money be easily
borrowed and the machine kept in operation upon the
old system.
In ~p,y to telsgrsphc despatch sent to Philadelphia
from one of the leading brokers In Wall street, with
regard ridiculous report put into circulation that
the Reading Railroad Company had issued twenty
thousand Of its stock TO pay oil its floating debt, We
present the following copy of despatch in contradc-
tim 49,
Geptlemep-The Treasurer and two Of !he directors,
yho at the Office when We called, assure Us that
mere is not cf teuth in tho report; their books
tested every month Your brother Is perfectly salts
Bed the Of the above answer TO your
inquiry. Yours, &c.
The reply was read at the Board and Immediately the
price Of the stock advanced sixty to sixty three and
. half per cent-the stock by the having been
depressed at the first sale.
10 said that the company hsve passed the dividend,
deemiDg II for the in ertst TO pay OH its floating
sbs and in consequence the p-cs Of Its scSeptances
rose from 3 to IL Per cent.
The following letter wae received yesterday BY the
investigating COMMITTEE Of the Harlem Railroad:-
NEw YoRx, July 81, 1854.
10 nz INVESTIGATING ConNrr1tE rnE kIs YORK
HARLEs bAIIxcAp COMPANY
Gsnilemsn-In your report Of the fraudulent issues
the iollo~irg Item
.Csriac sss Issued to Eliza e. Schuyler, (she having
70 stock IN her nsme,) 81 shares"
vsh 70 explain this transaction, which took place
lAtsy as the 18th June last
Ny wife, having accumulated from ner own Income
Ave hundred collars for investment consulted the
e. ana was advised by put the money in Hair
em old stock selling nj less than half price, anci
yaAipg did, an inc esse Of the d., idend from the
inproved condition Of the company during the past
year.
MI Kyle had often requested me u allow him 70 make
. brokers' commission on any small purchases Of this
stock, he in daily intercourse with those who
heia II, on the plea Of adding anything however small,
10 his salary for the support Of his family.
appears that he put the money which handed him,
In bank notes. into his pocket directed the following
note to Mrs Schuyler enclosing certificate for tweaty
khares Of stock
NEW YoRK, June TO- 1854
Purchased for seseuHt Of Mrs kuss schuyler tssnsy
thAres Harlem MAI road stock, NJ Ga and broker
ags, e<es rs Received payment, ALEX. KYLE
Reserved for account OF eosye purchase xjU %
Asss soo9ht - ABOVE. AJo 10
Basancs enclosed. 81 ~
Respectfully, sentlemsn, your obedisnt servant,
GEORGE 1. SCHUYLER,