The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-02-01

trail Railroad, Ii; Chicago ard Rock Island, L. Rail.
road bonds rather quiet to day without char &c
in prices. Erie bonds, new issue, remain a. tue
subscription price, but any quantity pressing for sale
would depress the market value, beyond doubt.
The company have about two millions Of dollars to
pay to morrow ard it will take Considerable shin
ming to raise the amount. The semi annua, inseres.
on the bonds Of 1871, and the semi annual interest
on the principal Of The income bonds which have
not been converted, all come due tomorrow.
II Is estimated that about one million Of
dollars of the income bonds have been
converted into the new issue as fourth
mortgage bonds. The payment to morrow will be
the largest the company ever had, and the means
to make 1t have been purchased at greater loss
than any loan ever before negotiated. The three
million two hundred thousand dollars raised by the
new issue OF four million Of bonds have been used
in paying the income bonds and interest, the in
terest on the bonds of 1871, and small portion of
the floating debt. There viii be left outst andng on
the LIST OF March, Shen the sinking fund commences
operations, floating debt amounting to nearly one
million five hundred thousand dollars load which
will weigh down the stock, and keep it ut very
low points for many years. The floating debt can.
not, under the most favorable circumstances, be
paid out Of the net earnings in less than four or
five years. An annual payment of five hundred
thousand dollars would not extnguish it under four
years, and no one supp,ses for moment that the
company after providing for its sinking fund.- will
have anything like hall q million dollars year to
apply to the payment of its floating indebtedness.
II 1t punctually pays the monthly instalment to the
sinking fund, 1t will do better than we anticipate.
We hear various estimates made AZ to what the
reduction ought reasonably TO be on the par value Of
the shsres of some Of our leading fancy railroads.
Our State Commissioner has told the public that
no reliance can be paced on railroad reports, aud
the experience Of the last year or two proves It.
But thing may be set down certain that after
having been Schuylerized shavedlor cheated as are
known to have been, for example, the Eie, the
Hudson River and the Harlem rosds, the real par OF
the first cannot at tho outside be taken as higher
Il an fifty; that Of the second than forty and that
of the third than thirty any Of these roads ever
come TO pay dividends Of seven per cent it will be
not on the nominal par with which they started
years ago, but on this reduced par, to which their
losses and expenses must ultimately reduce them
all; and one Of them, it Is understood. immediately
On the supposition, then, that these roads, which
have not to day single dollar laid by for dividends,
will make them at the rate of seven per cent in
at all believe-ther present actual value canno. be
regarded for the first road high az forty for the
second as high thirty aad tor the third as high as
twenty. No prudent capitalist wishing to put his
money in place for safe keeping, and also derive
an annual income from it, will buy the stocks at any
price, but rot the street spe ,ulators and the
clerks who go In for filters, can fairly estimats the
real value Of their shares any higher than this re-
ducp 1os~ int
Rutland road, which, after o cos. Of 81 200 OOO has
just been sold under the hammer at one mill per
mile, had been Wall street fancy with clique In
the direction, and In the street to sustain It. IL would
no doubt have held up respectable head aongsids
OF our proudesI fsncies.
After the adjournment OF the board the following
sales Of stocks were made at auction by Messrs A..
II. Muller Co. -
so shares Excelsior Fire Insurance Company 72hi
20 do. Cor mercial do. do. ..... IS
10 do Clinton do. do 49,. "
do. Suffolk Bank Observation-Disclosures. II
Mr.. A. H. Nicolay's regular seni. weekly auction
sale Of stocks and bonds will take place tomorrow
(Thursdsy,) at 12t O'Clock, at the Merchants TX
charge. Among other securities to be offered vii
be SCI 900 New York Central Railroad six per cen
subscription bonds, sold by order Of the trustees
the late Rochester, Lockrort and Niagara Falls
Railroad.
At the second board the market was little BET.
ter. Cumberland advanced per cent on the clos
ing prices at the first board; Nicaragua Transit, 4;
Virginia 6's, !. All others were firmly sustained.
The sales Of Panama Railroad stock lately have been
quite large Holders are availing Themselves OF the
little excitement created by the opening 20 realize
coed prices.
The steamship Canada, from Boston for Liver.
pool to day, carried out s27s.375 in specie.
The transactions at the Assistant Treasures Of.
flee to day, were as follows:-
Received So, $50 IS
Payments. $40 30
Pad for Assay once. ~, 80 %
Balance AIS, AIS %
The receipts ard disbursements OF the Assistant
Treasurers office during the month Of January, 1856,
were az follows
| ASSISTANT TRyAsunRs Oruck, INV YoKx-RycnPrs AND
DISBURSEMENTS.
Balance January ], 1852 $50 ~
I On account Of custom. ..... 81, 6ss, 337 90
/" patent fees 1865 IS
F" Post Office Dep. 53l, Oe0 81
| " transfers. ..... 10000 90
/ = miscellaneous. 5,o9l OF
| -s3 o79,i52 ~
Total. 81 ,3el 1888 30
/ Payments
/ Treasury drafts. 500, sos II
4 Post Office do................ 23T, 0ls 20
---S $685. ii 81
Balance January ,42s, AIS %
BY balance credit interest accounts S01 739 %
10 payments ..,....................... s2k T26 ~
Balance ....:..;: .:............... ss5,oi2 D!
by balance credit Disturbing accounts T7s12s o.
ny receipts ss,51s 80
Total ,e57, 100 A.
10 payments 164, 21s ~