The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-09-13


lows:-
Paid on Treasury Account. ............. s48154 a.
Received on Treasury Account. ........ 1872 781 95
balance on Treasury Account. 1893 176 %
fad LOT Assay oInce III 792 "a
Paid on Disbursing Checks .............. 81 400 "a
The receipts to-day include $50 900 from the West.
The receipts Of the New York and New Haven
Railroad Company for August, were:-
Passengers ..................sI63s7 90
Paid Harlem road SOIL So
August ...s sgsaS II II
Decrease s2,35o Sc
The receipts of the Virginia and Tennessee Rail.
road for the month of August, 1855, were, for
Passengers, US. Mail and Express SIS 40 81
Total. .................s-S,6s 7 81
Being an increase OF 81 1892 Is over the receipts
for August, 1854.
The earnings of the Cleveland and pittsburg Rail.
road for August, were:-
August, 1864, about SO, 900 %
Increase !. ACKNOWLEDGEMENTS. $40, 600 90
The business the Pennsylvania Railroad for
the month of August, and for the year, to Septem.
Der l, was as follows:-
or HlOntn eLulng august SoDT 90 w
Same month last year. 305,668 "
Receipts from Jan i, to Sept i, 1855 So, 555sos so
same period last year. .............. 2,a3l,0i7 Il
Increase. ................. ........ s124, $50 SO
We understand that at a recent meeting of the
stockholders Of the Texas Western Railroad Com
pany, the Hon. R. j. Walker resigned the prcsiden-
cy, owing to his resumption of practice in the Su-
preme Court, in Washington, and his inability TO
give IL his whole attention. Ex-Governor Dimond,
Of Rhode Island, was elected his successor. We
also understand that efficient measures we're taken
for the prosecution Of the work. On retiring from
the presidency Of the company, resolutions were
adopted unanimously by the stockholders fully APP
proving the course heretofore adopted by Mr..
Walker.
We ventured to remark few days since, that the
railroad family" so celebrated for the success Of
its railroad enterprises, had interest in the Cleve
land and Toledo. What little stock bonds they
held sold some time since, and the treasurer Of
he company is, we believe, the only member holding
at present dollars worth of any class Of securities.
While these shrewd capitalists have avoided the
Cleveland and Toledo, they have invested hundreds
of thousands Of dollars in the Michigan Southern,
Gaena and Chicago, and other roads Of that de
scription The treasurer of the Cleveland and
Toledo is probably one Of the most sagacious fnan-
ciers in the country, and II that company had pos
sessed any of the clements of success productive
ness, he would before this time have developed
them. We have great confidence in the whole
family, and they have identified themselves with
some of the best paying railroads in the United
States. There is not better road than the Michi-
gan Southern, and II will ever be a monument Of
their enterprise and foresight Its geographical
position is superior to that OF any other in the Wes
tern States and it must ever be the great highway
between the East and the West, and most produce
tive security. The Cleveland and Toledo is beyond
the power Of good management. II cannot be made
paying road in the hands of the best men in the
country. II Is in good hands now; and II after the in
dustry the perseverance, the energy which has been
exelted in the administration Of its Affairs 1t fails
to earn dividends, there Is no hope for the future.
We do not think the management are responsible
for the non-productiveness Of the road. The best
talent has filed every department, and their efforts
have been futless. II does not follow because the
Michigan Southern l. good road that the Cleveland
and Toledo must also be good. 1t might as well be
argued that fire annihilator was equal to Jenny
Lind The circumstances are totally different. The
one is good card, while the other Is an annihila-
tor The and productiveness Of the Michi-
gan Southern Railroad has given the Messrs. Itch
field reputation of the highest character through
out the country. They probably are more favorably
known in the railroad world than any other capital
lists in the Union and their name connected with any
project creates confidence of once IN the public
mind. II is therefore, Of the most vital importance
that they should not directly indirectly identify
themselves with any concern not posse sing at least
few Of the elements Of productivencss. That they
gan, the Galena and Chicago and other Western
roads Of like character, speaks volumes in favor Of
these roads, and is guarantee that they are the
choicest railroad investments Of the day. That
these gentlemen never were holders Of Cleveland
and Toledo stock or bonds to any extent is conclu-
sive that they preferred the securities of other COM
panies.
The Harlem Railroad Company hes failed to nego-
tia,c the proposed loan Of 100000, purporing TO
he secured BY second mortgage on tie entire road.
II Is not generally known that this second mort
gage, and the first mortgage for 100000, are
not liens upon the entire road from this city
to Chatham Four Corners, az they profess to be
That portion OF The road known as the Albany
Extension, being more than one-third Of the whole
road cannot be mortgaged by the company, as the
legal title TO that portion Of the road is not held
by the company, nor the legal title TO 1t held by
,he company at the time Of making either OF the
said mortgages The New York and Harlem Rail-
road Company did, by deed dated 3lst Oct, ls4e,
convey 10 Shepherd Knapp, Morris Ketchu and A.
H. Hoey, in trust oil tina, part Of their road begin
ming at Dover and ending at Chatham -Four Corners,
to secure the payment of two millions OF dollars
bonds isn.ed by the said company under their cor
porate seal to the builders OF said road, enominat-
inr said bonds Albany Extension bonds and the