The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-10-03

pany. Apart from this question the concern can nave
ompathy from the investing public for years 70 come
Erie Railroad stock cannot and win not command invest
ing capital for long period Of time, If again. The
rise from 80 IS has brought thousands Of shares out
permanent hands and cast them into the common cau
dron of Wall street stockjobbng With the ebb and flow
Of the money market the stock must rise and fall or 80
long be found to spend their days and nights
in connecting plans to humbug the community as they
manfestly doing When these ingenious people
are satisfied the stock win find its proper line.
In the midst Of the present apparent frmness in the
stock market there very extraordinary facts to
dwell upon. Millions Of railroad bonds seeking
market and do not find it, They draw six and seven per
cent interest per annum, but there investors.
Those who have them for sale admonished by the
press and by the public that the coming crops the
plaster for all their Ills and that they have only to wait
until fall when they command their terms for
their Unfortunately for them while they wait
batch is being manufactured, and when the golden
hour arrives they will meet with increased and increasing
difficulties
1t was universally believed in the fall of last year that
too many railroads had been built and that the question
of the proiucveness of those roads already in operation
was by settled. These points no less true
now than then; but during the recent abundance Of
money have forgotten their lessons While capital
has accumulated from the contraction of industry and
way the seaboard and constitute the basis Of the
listing bank expansion. They better located now
than they last fall-the railroads pro-
ductve than during the year 1854, notwithstanding
their increased receipts We look with confidence for
effect the bulk of the crops ap
pear but not the effect confidently anticipated by
needy railroad men and sanguine Wall street bulls.
At the first board to-day there blue time at the
Stock Exchange. The bears in high spirits Quota
tons for nearly every stock the list show decline
Virginia 6's fell of II per cent; North Carolina 6s, l.
Erie Bonds 1875 III Illinois Central Bonds, n Delaware
and Hudson 1; Canton Co., NJ Cumberland Coal NJ
Pennsylvania Coal, ri Panama Railroad, l; Cleveland
and Toledo, l. Chicago and Rock Island, 1; Harlem, 81
Erie without change At the close the tendency
downward.
After the adjournment Of the board the following sales
Of bonds were made at auction by A. II. Muller
So 600 Ottawa Township Ohio rs, 1878. fiat 27h
1000 Pleasant do. do. do. -. do. "a
1000 Perrysburg do. do. do. -. do. 2sh
1000 Washington do dc. do. -. do. 80
1000 Erie and susquehanna Coal Co. rs 1865. do. 25
At the second board Erie bonds, 1876, declined Il per
cent; Illinois Central bonds, 1; Cumberland u; Mica
ragua Transit, Il; Harlem, u; Reading Railroad, "a
Hudson River Railroad, n; Erie Railroad, r. The
highest bid the New York Central at the close
93A per cent and that for delivery contract
maturing Mr.. Corning the President Of this company,
has been in the city the past day two and he states
officially that there will be change for the present at
all events in the late transfer orders.
The Illinois Central Railroad Company have called for
further nstament of five dollars per share upon the
stock upon which fifteen doarsis now paid payable on
the inst Interest the stock for the year ending
July 1866 will &c paid the LIST of November Holders
of stock which fifteen dollars per share have been
paid viii receive eighty six cents per share they first
paying the instamen called above The holders of stock
which twenty dollars per share have been paid win
ceive one dollar and forty cents per share.
1t is officially stated that the gross earnings of Che
Galena and Chicago Railroad Company for September,
will range between s26ooo and $27bo00 When it is
recoected that there five Sundays in September
and that this company earned at the rate of $4,000 per
day. it will be that the receipts for that month
by this circumstance reduced that extent The fact
road with capital Of only six millions of dollars
ing $275, 900 in twenty-five working days, Is unprece
dented in this country. At the same rate, New York
Central should have earned in the same time 81
at least.
Thn Aeeicf nj Troacu unrfc -Jac =,