The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-05-16


hibit 1t speaks for itself gross income OF
ON capital Of SIS, 600, is certainly better than
grots income Of $647, 900 capital Of S37 600 000
The net income Of the Reading in April, WAS $780,,
COS IL. The Centrals net earnings, under the most
favorable circumstances, estimating the operating
pendures at atty per cent cannot be that $685.
$685. Some time SINCE when Reading 81 per cent and
Central o. stated that before the lapse Of many
weeks the relative position of these stocks in the
ket would be reversed The difference in current
value is only three and half per cent, and that win
soon be wiped out.
The Boston Telegraph of the 14th inst gives the fol-
lowing resume of the stock market Of that city
Boston and Maine improved " selling at 99K, and the
price bid ct the Close This stock 10 the most
BOSTON and To Ss Is more inquired for at for
shares and 10 asked Boston and Providence, worces
ter Concord, Ftchburg Eastern and Western are dull,
with Of sellers; Cheshire 10 wanted at 26H,
but the stock scarce Old Colony sold at 79X which
10 generally thought to be lev figure for It,. We be.
quite certain in July Vermont and Canada is in
quirea for and bids of 81 DO not produce the stock
and the stock is scarce Bank shares continue to ad
vance, and the demand in excess OF the supply Con-
cord and Montreal Mortgage rs Of 1870 advanced "
to 36 which the lowest point these bonds sold
At. In January last-Sth to flth-fome few transac.
advanced to 4o and on the Esd the same month sales
made at 60. Rutland I'd Mortgage have touched
rs ,he lowest since January vhen they sold At III og
and could have been purchased at the this
ing The lowest public sale OF these bonds before
had thrown out of the board for nformsir.
and could have been purchased at time for about TO-
Capitalists should bear in mind that proposals for the
bonds about to be issued by he Virginia and Tennessee
Rsilroad Company for million of dollars, win be re-
ceved at the office of A. a. Muller, Esq, No. SO Wall
street until Thursday the oath day Of May INST The
ed to s22 OH o. being increase of about fifty per
cent those for the corresponding month last year.
This was on 1856 miles Of road which has no important
connection. Eighty five miles Of the road earned last
year 929 a. This road s In its local resources
and prospective business, Of the most important In
the United States and in Offering the 81 ,000,0 OF
bont perfect confidence felt that in point ofsecuri
ty they must be considered undoubed and equal to any
in the market II criterion in considering the value
of railroad securities that when the capital actually
paid up, and judiciously expended, amounts to more
than the funded debt and the location of the road
good the bonds entitled to be looked to by capitalists
with favor. In this instance, these second mort
gage bonds stand in postion even more favora-
BILE for though the 81 obtained from the State
stands part Of the FIRST lien Of 81 500, 600, It
scarcely be considered in the light Of funded debt to
that extent it Is gradually being diminished in al
most mperceptibe manner and in "a years will be total
extipguished, without the company feeling II
han what other companies paying legal interest
may, therefore, properly be considered dona
ton from the state and, IL viewed in that light, the
first mortgage would become only $500 600; and when
The bonds offered sold the whole funded debt
would be only 81 payable in 20 and 80 years,
bearing interest Of six per cent aunum to be
vided for semannually, with the addition Of per
cent per sinking fund.- It is claimed for this
company that the construction of road has been bet
ter managed, done with greater economy. All the
contracts made early PERIOD before the great
rise in wages and materials took place. and the prices
paid have been greatly below the cash prices at the
sent time. And further bond has yet been issued BY
them below par the present issue being the first that
they have offered publicly, and all that they can be
called to dispose Of at discount The stockholders
have also adopted line Of policy to declare dvi
dend excepting it be paid from clear cash surplus
after the interest and sinking fund have been provided
for.