New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1855-02-19

ing result No. ], I2.3s cent Of rom No. ., % Fl
p cent; No. 3, 4 se y cen. No. 6, 81 so y cent
No. 7, go p cent No. e, s.57 y cent? No. II,
25. 90 y cent.
Tie London Times Of the ID inst, has the annexed
remarks ucon American securities in which there Will
be found considerable truth plainly told:
"The late s1vices from N@~ York have shown tns'
all recent at. ropts TO obtain fresh So IA 10 Lohdon
rail ey mortgage bonds have proven uosaoo
Profrsais however, are now IN cfcui1I"n " 80
SEQ 600 IN = cent bonds on the security o, .os
ps,.,o. .nva Az witch il expected TO he cernpe'ec
tro,n :. IN a. by the cd OF next month. whether
NV viii be TAX en- IL dou 1iful. Altogether the az
If The conpany 10 slreaoy l4rler than their pad up
their position ie pectsble ana the OrOspe
~ fufure receipis very favorable. Bnt y no'
,n.,.ly 10 the &C ua and inmecate tnsncia POSITION
~ tucb copc.rDs that per-)ns disposed . bscome
lenders are now obliged to lDok TIE sense Of leg
security bas been shaken by recent developn MT,
coupled with the previous experience OF 1857 tha',
apart from the natural risk OF any undertakiog az
immense margin lie required 70 cover me CANCER
of the most solemn ohlig cations being dispu'ed or
set aside even If everything thOuli go on prosper
ously This feeling bas becone general anl t'e
evidence Of every seek shows teft II mn.t increase.
Irdesd only a short tine back the Judges OF the
Supreme Court Of New.York pronounced en- opinion
ipocaiing that the perls attending American bon''
are far greater than he'd been msgi Jed Fhte-h years
syo concern called the North American lrnst ana
Banking Company. D0!T0Fe IN L1boOn -"p',o W"
upon mortgage bonds, the payment 81 when mas
b, en- contested from that time to the present, YET
in wing the decree last obtained The Judges ufoni
whore verdict in favor Of the claimants an appeal
has sir ce been made TO the Supreme Court OF toe
United Srsies took occasion TO remark that the
"teIs OF millions Of railroad bonds are secured pre-
"csely in the same manner. Every po'ssssor'
Therefore OF one Of these securities would appear &C
cororg TO the toundest and most Impartial legal npg-
mel is in the country 10 be at the mercy of the psres
in, sted in disputpg them, to the extent AZ al
events Of Is y'trs itiga'ion, and as thus Woull 20
sufficient TO wear ou' al ordinary aanan.s' ,nS
stare of the la~ may be con-idered as far as su'h
concuc is concerted, 10 afford practical im DuDlty
OF course, in a majority Of the leading companies,
the honor OF the directors might be expected
TO avert the jeopardy, but ibe pubic should IN.
deutapd thew have little beyond this 20 depend
upon, and that comparatively recent cases have
occurred like that in which the Dry Dock Back OF
Eew-York obtained large mount from Mr.. Nor
Tison, where scIu9le whatever was entertained
Moreover within the past few w.ess, another cir
cumstaDce has transpIred to operate ~ warning -
al capitalists. The Manifold and Sandusky CITY
Railroad which took the Columbus and Lake Erie
line ard assumed its liabilities dsboDored the last
dividend Oh the bonds Of that Company, while still
sppropraiiDg its entire earnings and assigned "a
reason, that the Directors preferred TO apply the
funds in band TO discharge certain secondary obigi
tons which they had cobtr acted their rick,
and for which, by iDder-iDg bills. they had rendered
themselves personally liable. The President, and
his colleagues in the Erection intimated that they
bad no ioea OF sustaining any Inconvenience while
n ey bad funds ah0 their reach to prevent it. 10
this way, distant mortgages may at any time be re-
minded that, whatever may be their priority Of claim,
their Interests in the hands of gentlemen who
have the power TO set aside every thing else 10 meet
the consequences of their niisnsnsg ement; and
next that, if any legal steps should be rssorted to,
every of The kind may be carried for AZ least
fifteen Year, and still at the ead OF that period, be
found to admit of urther dispute if the administra
traitors of the coDtestiDg company find it expedient
to appropriate its funds for the purpose.