The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-11-13

capital psid In and slo773ass Es,i,ous ain pee esss
prsniun bondn.
No such road ths Mohawk Valley has ever Ne.
constructed; evsa ih u fictitious the Utica 80
Schenectady is the only one and u did not coat ovs
S2s 500 per mile, amounting 70 o., ooo, 00o twoMas
Of 00o forty per cent " ~ capital stock. repre-
scented in the Central consolidation to have been sctuaV
paid up and expended In constructing ths road. And
the road Ia mot worth any more than the sum nov 70
qarsd TO construct equally valuable, the debts ~
which tbs stock subject amounts 70 lbo Peg cent nors
thaa tbs actual value OF the road The Continual n
Of the capital while paid back to the stoc-
holders In dividends, may be ascbcd to ntsntoa ~
svade the Law limiting the dividends 10 ton per cont On
the amount Of capital actually expended in constructing
the road, rather than design 20 alloy the stock V
sell probably TO unsuspeeting persoas. Both d
these purposes, however have been cGcctaskV
accomplished proGtably To the original stockhoiA
srs, but ruinousiy to those who purchased $500
eince the consolidation From that period eight per
dividend each 800 share Of stock and ak per cent In
serest each 500 sis per boHi per annum has
BEEN paid semi annually to the pcrson- Who held The
original stack each share OF which the u the
soldaion only cost ga, bat estimated suiassat
eohiaeA'on Tor the above share Of stock Ani bosi -
heCentraequs - twenty eight per cen, per annua -
each slo0 invested IN the inflated concern
The stock sold a, 10 per cent Immediately aer tho
hut.oct NJ that Time Ia the tl0
fictitious premium sis per cent bonds ~ tho
900 900 additional per cent bond since sue 10
complete tho double truck amount n debt equal W
the present value of the whole concern, compared
with the superiority Of new road ia direct line.
avoiding the rig aag 10 Rome and ether
remote Places which local interests pointed out In
the location 81 the Central when ihs through buA
nsss wns OF no more account than the local 1t has
gradually fallen In price 10 this day white the holders
have iaboroa diligently 10 sustain ia. bubble shsy
would bave done TO keep sinking ship aBoAt ths
ocean perhaps they rather be compared 70 the
creditors ce the government u Great Britain who must
against H.
The holders oi than thirty eight millions % stod
and bonds issued BY the Central manufactured h
the assatuIe at Albany during the last ,weaiy Ave
years beginning with the charter Of the Mohawk asd
Hudson and ending With the consolidation inisnns
sehse the persons Who heretofore have opposed
endeavour TO prevent the enlargement Of ths Ess
canal the construction OF the Albany and Bnghastos
tho Troy and or~ego aud the saraioa aud SAC. Hss
Dor railroads and who stopped tho enlargement In 1stx
and Iepudiaed the canal contracts legally made BY
State thereby causing tunous losses 10 contractors and
delaying the enlargement, more than Twelve years.
The Richmond Enquirer, Of the 18th Inst. has The III
10 wing In relation 10 the January Interest GU he dob,
Virginia.
We have heard that there attempt boing made 10
create the Dpenon that tho stat. o Virginia will
he able 10 pay bar January inefesi hsr bonSs.
such ea doubt has been coin.d 10 tho brans ~
porons interested In disefeiting the bonds Of bc
Commonwealth. To sstitfy mind upon the suk
Jet va have applied at the Office al the Aud,ae II Pabns
Accounts, whore learn that this amount IL rcv~aos
derived from taxes Imposed upon lands. propcry, ha
and payable into the Treasury during the Ing months
81 December and January VIII bc than. 81 00s 40
To 10 derived from Bsnl dividends aud tai apon
dividends payable in January ,......,..,., 900
oiLer fources a revenue. ..............s 20 90
= :
The above does not include the Premium bonus no.
derived fum internal improvement which may be NJ,
down al s5I 600 more,
than s7ps Oo0 learn by reference 10 the bJokn 10
Tie Second Auditors Office Tit. tate ~ public a1siss
shows ample 20 meet the January Interest kszdes
leaving balance 81 sihe co. sufficient 10 pay IN
other ordinary demands for expenses % the