The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-11-30
|ANCIAL AND COMMERCIAL.
MOHnY MARKmr.

FINANCIAL AND COMMERCIAL.
HOHaY MAR X EFT.
THURSDAY, Nov. 29L3P.M
Wall street and ts vicinity nearly deserted to day.
low uneasy bulls and bears have been occasionally seen
6itng assut unwilling to lose any chance for making
N honest penny two. he absence of the steamer
source e disappointment Il to check opera
lions and keep matters unsettled. 1t the prevailing
impression that the next European advices will bs rather
pnavorable The returns Of the Bank Of France the
past month and Of the Bank Of England for the week.
will show In the aggregate large decrease bullion
and expect TO gloomy accounts relative to
financial Affairs generally Every brings the allied
governments so much nearer the negotiation OF now
loans Every week adds millions to the expenditure
account Of tho war; creating q greater drain upon
The revenues Of each party engaged. Whatever
may be the progress of the forces employed
either on And or sea, the cost goes steadily, and
money must BIT forthcoming at the proper time Without
regard to the effect upon commercial matters. Many
weeks cannot eapse before the money Of Europe
will be again disturbed by the negotiation of loans
by the governments Of Great Britain and Of France.
When such Official announcements appear we may sx-
pect another moderate panic and of course decline
Quotations for stocks
Since the appearance Of the last financial statement Of
4he Nicaragua Transit Company much has
and nconpleeness The last that several large aggre
gates disposed of in line without the least
PLANTATION, not at all satisfactory. The stock
holders looking for detals-for items-and they
were given totals. No is to blame for this
glect but the board of directors and their presi-
dent and secretary. They have all the items in
ahsr possession Their agents have rendered them all
Che particulars OF their operations. The account with
every ship for every trip given In full to the last item
ord h. fail ID IN IL
quiring explanation When Mr.. Charles Morgan was
President tho reports the recepts Of
each ship and all the other items giving the stockhold
an necessary information As agent, Mr. Morgan has
rendered his account In the careful explanatory
manner, and a little curious to know why the
President keeps them snug in hi, Office The ceaseess
and unng devotion" to the interests of this company
II certainly not visible In the efforts of the President
tho beard Of and but the popu
ariy and untring industry Of the companys agents,
there would havs been very different state of things
than at present exists. There too many drones
1he hive consuming the substance provided by labor
pf othsss.
It must be borne in mind that this company can.
not be permanently prosperous but by a thorough
nnd radical change in all the departments Of the
company. We do not Hnd so much fault with those
via receive the large salaries and the large commits
aions - with those who pay them. The President
and directors ced there to administer the COM
pauy's Affairs In the most judicous manner and they
slone are to blame fer the expenditures for
nseess services We understand that the ishmus Of
NcasaguA alone salaries amounting more than $40 900
Per annum are paid, besides all the other extraor-
dinsxy expenses Of that portion of the route.
The President receives 81, 900 for doing nothing
In the world but putting his signature certificates OF
stock the secretary 500 for service
pei 10 the company $4,000 for occasional law servces
end Thousands upon Thousands of dollars annually
expended in this way for services which could OBJ
Gained for = moiety Of the money Mr.. Charles Morgan
does in fact the entire business at this Of tn, route
and his and services actually worth all the rest
put together But for Charles Morgan's and credit
tho Nicaragua Transit Company would have been detunct
long since. Il can hardly be expected that of his
wealth and position would devote his time and energies
% the business Of company for price that would amply
femunerate of less weight and doubt
4 another could have found able and disposed
20 fnancier for the company In the way Mr.. Morgan
has. Under his administration and agency the
has been carried so far through most trying nestmss
which have compelled HIM to advance largely from Own
pocket to the very existence But that
the most difficult points have been weathered thAtis
finances have been placed in comparatively strong po
sion II Il time that the extraordinary expenses Of the
past should be far possible retrieved that portion
~ least Of the severe sses attending low credit and
eriod resources should be made by economy In
eeoons upon the management Of this company we have
aare to bring good out of evil The President and Sec
fetay, the agents and attorneys Of the company put
their value upon their services and the Board Of
Drectocs consent 10 pay that price to blame
but tho directors Mr. Morgan Ia wealthiest
and most respectable citizens II there Is in the
community entitled to his otium digmitas he Is
shat man. Afer long life Of most active pursuits, we
And him, at time when he should be resting from his
Abos, engaged In all the harraAng duties Of building
mp an extensive steamship line in taking all the risks Of
heavy advances TO sustain lis feeble credit, and In at
tempting to carry successfully through in the face of
Ill opposition and competition by the force OF his own
energies and private capital, of the extended
1ransportaton companies Of the country. While we
can but honor and respect such . man, we
cannot but condemn in the strongest terms that
portion Of the Transit Companys direction which ha,
sanctioned the expenditure Of hundreds Of thousands
~ dollars for which not equivalent for has
been received. We have granted the greatest license
TO correspondents in reviewing the operations Of
this company and In analysing the recent financial
statement but the conclusions have not In every in
Stance, hlen upon the right shoulders We must look
g the fountain head for the OF all impurities We
must apply the remedy at the very root of the evil ad
make only those responsible who have caused tbs difficult
ty and arrangement
In reference to the employment Of the ''Sierra Ne
vadao on the Pacific side of the route, informed
at nr Vanderbilt never did offered to do the
usinss for forty per cont with rst class boat The
.ct that the company had the right to annul the
tract at any moment exonerates Mr. Morgan from any
charge Of unfsness in the business he has not taken
any advantage BY trammeing the company With long
contract and the company is stated make more
oney By the employment Of the Sierra Nevada, at 90
er cant On account Of her speed and superior accom-
snodssiens, than either Of the boats LAID up for
xepairs--ene requiring new boilers NC. We are
aaspossd 70 do full justice TO ell interested
,.-.,.. All no want Is to get At the truth and the
49,. Ts~e Il NO doubt but that the Transit Company
h.s seen IL worst days. and that in good hands II can be
ade ops 4 the best paying concerns In tho country
But there must be thorough change in Its sdmoisra-
-, ana IL system of management. The enormous