The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-12-25
Nay !, is56-surplus on hand ....

This company paid during the fiscal year endng May
1855 dividends amounting to seventeen per cont and
had hand at that date surplus Of 1913 76t During
the fiscal year ending May l. 1855. Il will have paid
twenty two per cont, and have hand Mt the close
surplus Of s137 4p0. This Is tho largest dividend the
company paid but the average or the previous sx
has been seventeen and half per cent The
plus this year Ill be than double that OF any year
previous, notwithstanding the increase in capital and In
in divide nds II will to that have estimated
the net earnings for the last six months Of the prescn,
cal year Mt the figure realized during the first
| six months. We have month-Soycmtcr--already
| IN which confirms calculations but the last six
monts ~ the last fiscal year equal In productive
nese 10 the ast six and have every believe
that similar results will be realized this year Our cst-
mate for the frat ak monhs OF the present acal year
ending November J. 1855, pcary Sl00 900 below
| ac,ual retult, and have doubt figures are
within bounds In the last fix. The above dividend Il
two per cent larger than Anticipated aud tho surplus
far In advance Of most cxtrayngapt estimates In
every instance calculations have been considerably
larger than ,hoac msde BY the company but those
bave made have been, in every Instance Ear below ac
| tual RESULT
| The osweso Times and Journal contains fuu reporte
meeting held in that city, TO the building OF
ailrS ad Fix fee, gauge from Osweg9 to Syracuse 36
miles. From Syracuse to BinghAmton tho New York
that 4 needs but the bolidirg 81 951 miles Of road TO
connect lake ontario with New Yctk BY broad gauge
road requing change ~ transit pinent Of
merchandise. At the meeting speeches made by
tie Hen. Iancl Iicainson and othors AMI the hight
hind ~ rIifh seemed 70 prevail TAe estimated coat d
tie road Il st0 100. An able report presented by
W &. GILBERT, rg showing The Importance % tho road
and ~ relations 70 western This enterprise
ana oil others which viii afford facilities Tor western
- 49,.
side west y The lakes The engineer Mr. Gilbert shows
how this road would largo trade from lakes
Michigan and superior by of the Ontario simcoe
snd Huron Railroad.
The nosn Tranaerfp gives tie following illustration \
The ignorance generally prevailing among stockholders u
III Incorporated companies relative = lilo condition 81
he concerns u rhic they confidently APPEAR
| 10 blndly, invest their money
one u Die ohOst proceedings % tho week wAs III u
tie ~ Tehf 3srB II the Groo.rsi Banb IA re4uesnx th
reporters for the pfeHs % withdraw the mcetog
yesterday, FOR fear they would obtain iaofn. IA rc
gard . tho condition 81 that fsled Not
hyes tAt toll how that nstgtoa stAuas ana the
ssttments hat have Ssn nade 80 a. clear A. iaea
hcuy. u the reporters could gys The Huf atao ~ tae
case, ih.y wouia conior great tyor up0l u,s,e
| stockholders.
We have known ayers II railroad companies deceive
their stockholders for years by Interpretations Of
| ptndtures. We have known them TO show on paper
dividends earned, and aotuay 70 narease the rate Or
L
proved that had been earned. We known
construction aceoun. 10 pay dividends Tor years. until
longer concea ment impossible by the
| Of capital and eost. We htve known bank a. Wall
street 10 pay dividend day, fail tho next, and
pay cent 70 stockholders biaodetn We have
known more instances OF yany In Wall stree, psactscd
/ by wealthy and highly respectable men, than have
time 20 enumeTac, and We have doub, there
| y this moment 10 that immediate vicinity hodiag
/
Le found in sing srg when body Of enrust
I'll Nth the sgement a. railroad Involving the pro-
teeth ofin'ercs,s amounting 70 ofmon u iolsr
Ard involving the annual expenditure Of several millions
more signing and issuing reports annually ene
niiye ~ and eetnlngr which they know be false
In every important particular Il Is enough q destroy
confidence In al incorporated companiea and enough 70
induce % place very htue trust Ia the honesty and
integrity Of whose position should BE- gaaranios Of
Character. Men 10 not get rich a-dsya by enter.
Irise aud indusryby The popes lon and ferreyerirg
ptsc;ice q those elements of chatseer ~hich ys.s ago
reeesay 70 .yso,n entirely OF
reIt exist aud fortunes Al3ly acquired b.
vhh ~ouf IA frIner times hays iofgsi ,aose englgca
ihc teftenary, iong efofe hy a. grown 4 upon ts
| puiS'nnce 8 widows ana orphans The mgfai tons
| Of the cenmunity bn sadly changed wihin tie past
| few years. In fhe hnsneial AMI commercial world
/ AID DO commit acts vith lmpuny which ieu
years tpco would have dawa u91n them The deep en-
dsmnatln II any houct nan The entire cole - anSa.
sal apl commercial operations has been reyola,anlsi
| snI NAV rot iEeult 70 make money 10 times
rsst 4 4 csrsainl, MOI ascuit to hcep 81 p paos Il
wieso u p Il psrec,ly AZ a iByrsnsni ~ con.
tnue productive, There 4 - mact dishonesty - high
pieces tat are lsblc aey p fnee y y asouna4 b.
horrible de,sapsmss, v fraud cihss sps
| ciea oftateahiy.
lie snnsxsa sf.,frnen, exill,s the average da,lv