The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-06-10
FINANCIAL AND COMMERCIAL.



each company have attracted good many outside pur
chasers and made holders particularly Arm. The pay
mens of dividend Of four five per cent by these
panies, ON the par value Of the stock win bring down
the cost materially and make the Investments very pro-
ductve Nicaragua quite active to-day, while Cum
berland not offered very freely at the advance All
the railroad stocks Notwithstanding the reputed large
increase earnings continue depressed in market value
New Haven Railroad has not low formany years;
Harlem is too much depressed, and must be good pur
at present prices New York Central Railroad has
not varied much lately, but 1t is with difi
Guilty sustained, and the recent expose of its
finances is not calculated to help the stock much.
Erie Railroad must find lower level 1t is mat
tor of some asonishment that 1t has been kept
long Reading Railroad has great recuperative powers
and remain long at present prices Most Of the
Western railroads have declined lately in market value,
and the probability ia that very few Of them will ever
touch such high points again. They, have all been
too much inflated and the imitation has been produced
by the payment larger dividends than has been earned
At the rst board to-day Erie Bonds second mortgage,
advanced n per cent? Erie Income Bonds, ~ Illinois
Central, n; Cumberland Coal 4; New York Central
Railroad NJ Cleveland and Toledo Railroad, l. time.
Canton Co. fell OF x per cent Harlem, y; New Haven
Railroad We have quotations to make for Parker
Vein The stock Is In fact defunct and would just
be dear ct any price, The injunction just issued has
knocked the calculations Of both bulls and bears sky
high the facts developed they viii astonish
even Wall street. There all sorts of reports current
in the street about the operations Of the management
The following telegraphc despatch received this
afternoon from Cumberland, dated June 9, P. N.
The reform ticket Of the Parker Company elected
entire Old board made assignment Of all property this
morning No cause for alarm. Hold your stock until
return.
The ticket referred to contains among others such
names a. Thomas Fale; N. B. Bramhan, President Of
the Farmers and Mechanics Bank Jersey City; David
Stewart, firm Of Patton Stewart; W. D. Cromwell, E.
Stevenson, formerly Of the firm Of ellison Co.,
and others Of the same character and stand
ing Considerable excitement prevailed in the
street this morning upon its being announced at
the Board of Brokers that the whole issue Of stock
net much short Of sixty thousand shares, instead Of
thirty thousand shares represented by the COM
pany's charter The board ordered the committee ap
pointed yesterday employ counsel to investigate the
company affairs and the whole thing Is In fair way Of
being probed TO the bottom The injunction issued By
the Supreme Court OF this State has shut down the gate
ON all future operations of the kind and the
new beard is organized, We shall End how matters
stand. The assignee Of the company is J. p. Roman,
Of Cumberland; but the probability Is that his
professional duties win b dispensed with The men who
have in hand the companys affairs cannot be trded
with and there have been any Illegal acts committed
the part es concerne win ind themselves In very un
pleasant position That there has been considerable
operating there doubt; and the probability ~ that
expose win be made that win create great deal OF
dstrust for time, in all incorporated companies The
stock Of the Parker Vein Coal Company has been we'll
distributed The high character Of Mr. Neae, the Prss
dent, has induced many Foreigners, particularly
German, to invest in the company and they are
now large holders at high prices Although tho
pcson Of the Is at present rather unior.
tunate one, we do not any good reason for
sacrificing the stock and would advise holders to wait
further developments The by no means hopeless
one and parties largely interested have great faith
in its ultimate recovery, partially at least from the mis-
management It has 80 long suffered from. The market
price Of the stock could not DO much lower and any
change therefore be for the better Is our im
preston that the stock Is actual, worth more
than it was sixty days since Then all chaos an
confusion. Now we know the worst, and re
loved from all suspense. Then II in this hands
parties extracting s very Me blood Nov IL ID
in the hands who will show just what IL really w.
and extrcate it il possible from emharrassments Our
advice to stockholders is hod TO your stock and
patiently wait the movements Of the reform Board
VI Directors"
After the adjournment Of the first board the following
sales Of bonds and stocks made ataucon by Simeon
Draper
$4,000 North Ind RR Goshen Br 1st mort Int. add 81
5000 Sanduskey, Mansfield and Newark RR. do. IS
leo shares East River Fire Insurance Co....... "a
10 do. Metropolitan Fire Insurance Co......... "
Sc do Commonwealth Fire Insurance Co.,.,.,.. u
70 do Thud Avenue Railroad c., ,,.,,...... ~ ~ u
The warrants entered on the books at the Treasury
Department, Washington, Wednesday, the 9TH inss
were -
For the redemption Of stocks. S12383 "a
For the payment Of other treasury debts. 27i0o 50
Covered into the treasury from miscellaneous
Covered into tho Treasury from Customs 49,. go Al
For the War Department. $3.50 "a
For repaying for the War Dspartment .... i,psl "a
For the Navy Department. 1904 os
For the Interior Department. 2e,iss 4s
For entering upon the books Of the Treasury
appropriations to supply deficiencies per act
The stockholders Of the Chic Land Marble Company
elected on tho It'll inst, the following gentlemen as
trustees FOR the ensuing year Thomas p. Kette Henry
Warren, VIM. J. Dezeng John N. CAntine, Augustus J.
Brown, John o'Brien, william Burnett, Amasa A. Lyon,
and Edward warren-all by . unanimous vote; and at
Subsequent meeting Of the board Trustee T. P. Ket-
tell reescted President and the other officers who
served then were also reelected. Deducting the
value Of the personal property Of the company their
debts including the outstanding bonds stated at
than sloo and are in progress Of further reduction
mond, fredericksburg and Potomac Railroad Company
exhibiting the condition of the company anil the bust
mess Of the road for the year ending 3s u March
last We gather the folio wing interesting
The revenue Of the road during tho pas year. reached
the Of s263 &c. and the expenses for same
period amounted to $lS3,o2l 0l--leavng balance a.
picabie to the payment Of the regular dividend ami
interest, Of sl2s52o 49, With the deduction Of these
two items, which for the past amounted to So125
&c. surplus Of net increase appears Of s3s 500 o.
which 10 the excess Of the contingent fund Of tho
pany the amount stated in the last annual report
less the sum of s7,O87 % allowed the Washington and
Fredericksburg Steamboat Company at the last annual
meeting Of sockholders Included in the sum of ex.
penses for the Last year several IL Of cxtraor
nary expenditure amounting In tho aggregate to
Do Under this head, for the coming year. the Board
OF Directors entertain the opinion that bat small
amount VIII be found and consequently tncy anticipate
thc xatia of