The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-10-02

40 per cent and there are people who hold New York
Central at 96 per cent who year two hence will
not touch at rs per cent Confidence Ia very impor
tant element in the stock market and many stock has
been sustained by long and long after its real value
had been extracted by the specializing eeches who as
tened upon 1t in its early days.
The sub-Treasury Is steadily drawing specie into It's
vaults The Assistant Treasurer reports to-day as fol-
Received We '' d. a'''un........ 1856 To- 81
Balance do. .................7,2 25 1888 "a
RAD on disbursing cfAcks..... N853 SO
The payments to-day include s4S, 600 on California
drafts.
Telegraphic dispatches received Saturday to
the effect that the notes Of the Atlanta Bank had been
protested Under what circumstances will be seen by
notes from the two parties:--
ATLANTA, Ca, Wednesday, Sept. 2s.
ed 5 1 rsss n
paid 500 0O6 At the Of banking hours the balance
uncounted was protested We advised BY the best
damages. Shall We hold Washburn to bail9
s. c. HlGGINsON, President.
ATLANTA Tuesday Sept. IS 1885,
We have just put the Atlanta under protest for 81 900
and gave notice that we should Insist upon that
only counted $4,000 before dinner and when the bank
opened in the afternoon e O'Clock took notary to
the amount before the closing Of the bank they then
proceeded to count very slowly until clock when they
closed the bank leaving unpaid - BOO which the notary
Is now protesting When protested 1t will be expressed
TO you to have suit instituted against the At
the time Of closing they ordered out Of the bank
The washburn referred to Is the Hon. Z. B. washburn
member Of Congress from Illinois. The Chicago Tribune
Of the 22d Of September has the following items about
"poor money going and good money coming:'-
gentleman from Galena left here on Thursday even
ing for Atlanta with big sack full of Georgia notes GO
ing home for redemption The amount taken we are In
formed was 000 They will keep this matter going
until every dollar Of Atlanta and interior money is sent
home
Arrangements have been made by parties In Chicago
for bringing here to loan to grain dealers and others
500 900 Of the notes OF sound, specie paying banks TO
take the me- place Of Atlanta that Is going out
The wisconsin banks increasing their circulation
to I'LL the gap left by the withdrawal Of Georgia. and
own banks are pucking courage and putting out their
heretofore circulated so freely.
since the run on Georgia commenced several bank pre-
sdents from New England have been here see upon
what their money could be loaned and all 80 far
are informed, have gone home entirely satisfied
that ample security can be given for all they have to
spare.
The most important matter connected with the finances
81 our railroads is the extent Of the actual operating
pense compared with their gross earnings. This i
subject upon which the community and even those
interested profoundly ignorant and II is the fixed
determination Of the managers Of railroads to keep
their stockholders completely the dark long as pos
-be Bankruptcy which has for years existed in this
way kept secret and 1t Is only when the compauy's liza
bities have reached too unwiedy for the fnan-
cers to manage that the public get insight into these
dark AMI mysterious operations Such an expose de-
stroys at once the company's credit and the nvestga-
lions which follow show condition Of things almost sur
Passing belief II Is really astonishing for what length
% time these sbrewd managers will disguise and cover up
the insolvency Of railroad for what length of time
they ~ill continue to pay six and eight per cent
dividends, without earning half OF the paid
Instances have been known where they have actually
increased the per cent dividend from year year when IL
vas afterwards shown that the lowest rate had not
been earned The New York Central Railroad Company
reported last year. that ytwo per cent of its receipts
paid Cor operating expenses This we believe TO be
nsderay under the actual rate The average in the
sa,s lat year according the State Engineers report
20 per cent. For the purpose Of arriving at the
amount expended, without regard TO the per
cep's have taken data the calculations Of our
m"s experienced engineers aud with that arrive
rses much In accordance with the views we have
sia entertained regarding railroad penses than can
- obtained from oacisi reports.
NV Yosx CENTRAL RAILROAD.
1854 vent o-hes run by passenger traiDi.2 III 039
MuS run by freight trains. /, 2oo, 40
Total miles during the year..............33I7,2 7s
According 70 the standard adopted BY engineers and
other scientific The actual ~ every mile run by
komotisc The rosi u each company is one dollar.
TAia standard l. rr established that the profitable
railroads a tn county be selected By H. It Il the
epninn y those who have devoted great deal Of time
- No examination - tis subject that railroad com.
fany wAsh dos "a, gross Iea., iollars for
every miis ny IT, locomotives cannot earn diyi.
esa1 n stock. TIE New York centraps locomotives
san dsrns the rear en9ias sept. % 1854, 3si7,27s
nil~~, vhieh mast have oos', according to the rule
"a ~ 80 instead n o. 0ss o reported In the oecaI
s'rrn.. he gross earnax u me company In the same
year sganisd s. sis 90 which equal TO 81 rs per
use. NHcas' dollar u each mile a. estimated
tho cmpsny co1h hays nst,ei bat seveat yezht cents
psr miis surns ~ year vhca would actually give /,
tai " ~ s1s ~ nsf n.tsai q o. 80 2s5 ~ dfer.
snes A.ns The COMPANY 4 s-,1 SIS g. The standard
a eK~nses Feterte - La proved nearer correct than
suy cher fhsrs = ~ way ~ avoiding the sxpenii.
iufs shea enumeraee Ia this wsy. Tie actual cost Of
Running ioenulotivs mile l. something Al engine
may " ~ ana dovn rod alone without train 81
ears sAshss rs ~ espsass y 3, movemsass canno.
" fskea ayAy A ou'sy IA fasl 81, labor wear AL
iear A.. a h&s astaAly tsea Incurred AMI 4 mus,
y pgsvssi ~ - tia gsrpse ~ placing III, or.ac
~ m prgpeg g. ~ aaueE .,s'emeat showing shs
nuruhsr 81 mes rua b. 49, ,afnot re- NJ several on
psns~ ihs an4 oshss stse. al tive tspaset yross
operating sAg~n8ituTes 81. eteh fos4
PanAo1D ~rkrsuas. OrlcAt-lsts.
~ - B. W.. Us. Maa r.