The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-06-12
FINANCIAL AND coMMER. cIAt.


Susa&y June 11-6P. N.
Daring the past week the stock market has not been
ss an buoyant. Railroad stocks have been steadily
settling down, ard all speculation in them has disap
psared The bears have not been able to put out con-
1rssts upon satisfactory terms in consequence of the
ahsence Of buyers and that class Of securities is fast
lsspg favor with spectators. There has for several
wears past much ananciering in railroad bonds
and other evidences of indebtedness that capitalists
completely dsgusted and show disposition 10 abandon
them altogether and turn their attention TO incor
porated companies deriving their from different
Competition in railroads is rapidly increasing,
which, with the steady increase in COST must ultimately
make them less productive and consequently less desir
able investments. The Developments recently made IA
Parker Vein coal stock enough deter outsiders from
touching nythng of that kind again but fortunately
that company is, believe, the exception, and
NOT the rule. It has been known for long
time that the most desperate, ruinous nancering has
pracsed in it's management and purchasers OF the
not been ignorant OF the fact Holders
waiting the movement OF the new board Of dirsc
scrs, and time should be lost In making public the
actual condition of the company. We want the whole
story--no patching up-that those interested may
what sort Of management the company has been under
Eince it's organization. The difference between good and
Isd management clearly illustrated in the Parker Vein
Coal Company on one side and the Cumberland the
tAs other has been steadily advancing and must
reach higher points Since the snt election Of direc
tors for ensuing year. the President of the company
has put forth the foosing report II Is brief and To the
point -
ofFrCr OF CUMBERLAND Coal Co., June 8, 1854
To THE STOCKHOLDERS Since assumed the active du-
fes Of President OF this company have made state
meDt Of its financial condition. with brief inventory of
it's working material which annexed and have only
add that Its position is materially strengthened and its
yesources increased from actual business.
The business Of the season opened aatteringy with
pressing demand for fuel al satisfactory profits In the
month OF May brought to market g. 664 tons OF COAL
which the largest months work yet done by this Com
psny, and an increase of more than 600 tons,
enty per cent, the corresponding month of last
year shall rapidly increase this quantity ana may
mark that with the addition Of a single locomotive and
swelve iron cars, which ordered this Company win
D. enabled without any additional outlay, to mine and
~ the public works Of Maryland, being enlarged,
Ahan be perfected.
anticipate the period when the market win require
the coal has been transported In the Companys vessels
and we have realized fair profits not only the COAL
hut the transportation also. But the results shah
present at the semi annual meeting viii be more appro
priste and satisfactory.
~ vessels barges enable II fill orders with prompt
ness and place 1t above dependence transient vessels
me Ce and Ohio Canathe result Of an enarripe
tzade-which must prove highly beneficial to inter
ests, and the interests Of the coafeId of Maryland
Sach is the magnitude OF our enterprise that it has
taken time than was anticipated to complete the
plans Of its projectors This delay has created disap
lontment but large proportion Of stockholders
sha early and earnest friends of the
Of the intrinsic value Of its property and the certainty
Of its deyelopement have never been dishsartened In
regrcttng the loss OF time must bear in mind that
works complete, and that unlike other
companies, business may annually be largely in
creased without corresponding expenditure.
The wisdom of the projectors of this enterprise is
apparent in thus anticipating the wants of the company
and providing for the largest increased demand
made upon coal district.
Various applications have been made for the privilege
Of mining coal from lands royalty which would
produce at the rate Of not less than &C. 600 per for
the great vein alone. have felt IL my duty to decline
these propositions realizing less than the actual
value OF the property In view Of the large coal
~ the company il may be advisable hereafter salts
factory terms to adopt this method of increasing is
revenue.
This company is earning dividend on its capital
xtosk, and doubt exists to its future prospects,
AL Of which is respectfully submitted BY order of the
stockholders. ANDREW hEHNTEY, President.
The expectation Of specie from this pcr last week
follows