The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-08-23

The Boston Trarsii,r gives the annexed ascoun,
OF the Cambridge aud Boston horse railroad. Rail
roads Of this kind are new in that section but -
far they have been well managed. The cost Of ID y
Cambridge road, compared with the horse railroads
Of this city, is very limited. The great trouble viii
our roads ia the large amount Of capital and bond'
The Second avenue road is the only one in the CT
tie cot Of which Is at all within reason. II Is tw,
or three times longer than any other aud foc T. 4
whole length cost only about onehalt and onethird
that Of the other roads running parallel 10 it,
The Cambridge road, the lrst horse railroad In New
England, was built by contract for The sum % SOL boo
Tie company also paid TO the Hancock Free Bridge Cor
poraon the further OF SO 900 IN full for the right T.
cross roads, estates and bridges free Of toll 0fevr
The toal cina cost or the road was therefore $1,000
OF which 100000 issued IN stock, anil $50 900 II
bonds % the company issued BY authority OF AZ y
the legislature and secured by FRS, mortgage on -
road. Extra expense and items Of construction lii
eudcd in the contract engineering expenses atefat Jns
&C. will probably carry the construction accoun. ~ 4"
$4,000 The extra amount 10 be issaed IN stock fhe
bonds payable IN twenty nyc years FROM January J.
1856 and bear six per ceut interest," able semi annual
~. The interest due Jtly Last wa promptly rad o.
presentation 81 the coupon. The company are also ob
rcd by act OF tic legislature pay to the trustees
bonds Messrs willard Philips, Lcbina J. Raymond aai
Henry Potter, two per cent per annum ~ sinking fund
This ipnd VIII properly invested, pay the principal
nearly 60 tt mstnry The high character Of the trustee
names warrants "a in Affirming that the fund will be po
Tic mems Tor the payment Of ihe nercs, on the bon
and the lcr oeuagc Tor he snkir fund are derived isn
road has been leased Tor years S5 Geo per
The tuion Company stock road with horses cars
ard run at their risk keeping the roai 10 good
rug repair THIS company has arealy met VITA
unexpected. aud ie1rn that the accounts oC the
st three months business p the show handsome
profit alter fa Of the and al other expnse
Of which such a. the coss Of nes stthes stat VI
Boston &c, extraordinary eNpensos aud caanol
apan occur Tho question 10 the payment Of the rent
! is thus placed be yond doubt.
Amer the Payment Of tho interest tie bonds (sa 0on
per annumJ and the two per cent 0r the sinking fund
(sa 900 PER annum), there Will remain 10 lhe CabrdV
Company the sl3 900 for the pas mcnt dvidend
tho sloCk There does not 70 be a reasonable
doubt tten that the company siler makig con
mcnccmtnt pay regular dividends OF least Sc s,n peg
cent The par value Of The stock, end perhaps li
more The stock has advantage thai shoglA nof b.
overlooked by nnancers IN estimating ts value Tha
iiock bolders not liable 20 be pers ntiy taxed 81
enactment OF the Legislature the company Il rlilfoa
corporation only so far relates making the annual
returns 10 The state aahore9 and not SUBJECT r. tr
ther general provisions Of law ccnceruOg riroai re
tcrations The company not, therefore Obliged ~ re
iurn lat OF the stockholders 10 the assessors.