The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-07-10


o. Railroad went MP Il per cent; Erie, Il;
Chicago and Rock Island, r. The money
kct little active. The banks have called in loans
Freely outside there has been good deal Of changing
about among lenders The large shipment specie pro-
Asoc rather uniavorable impression when first re-
ported. the market recovered closed arm.
Eric was fraction higher.
The steamship ASIA from this port for Liverpool today,
carried out 81 $40 7I5 IS in specie principally gold coin
fhe seans mp Hermann leaves this port on saturday, Tor
southampton and Bremen. There will probably be an
sther large shipment specie that date We look for
sn aggregate expectation for the week Of than two
million Of dollars.
Tho Asss tant Treasurer reports today as foows:
Paid on Treasury account s2Ss 3 sss 50
Received ............... ~ 213 %
Balance ................ sos, ITO %
Paid Tor Assay Office ................... 1922 "a
Paid disbursing checks .............. Alps IA
The receipts today include 1000 for transfer drafts
N Chicago.
One Of contemporaries says that systematic effort
appears to be making 70 put New York Central Railroad
sock lower presence that the removal Of $780, 900
Of the debt of the old companies is indication Of weak
scss On eve Of the August dividend We do not
Why plain Of facts connected with the anan
saal operations OF prominent railroad company should
DO called systematic effort put down the market value
u The stock is matter Of very little interest 10 Us
what the current price Of New York Central Railroad
sock may be, but the Of any fact
b calculated to initiate depress it, reason
shy should be suppressed. n is well known in this
scmmuniy that since the contamination Of the grand act
u consolidation, have entertained but opinion
scAative 10 the ultimate result That opinion have
VsaiDns in . fair way Of being realized at
essiy day. The loan required Is only
ss4hg a little moro TO the burden the stock
hssoers have had TO carry. II will be piled up
gradually possible, that II may not produce any
s1dcn collapse but constant additions 10 such
whomng load must sooner later break the strongest
bsck. The addition Of about millions Of dollars
s9eSe 0f the pen TO the liabilities Of road which had
previously been matured in the same way To enor-
nc0s extent enough 70 break down almost any com
DAny but the managers have hnanciered aroy, and
ker up regular payment ofdvidends any sacrifice
the stockholders were uled into feeling OF security
faneied the reputed pcrity real This happy de-
nsou destroyed by the expose We made in Sept1m-
and October and the credit Of the company
Aas f.ecvered from the shock then received The
psw1 OF investigating committees made since that
uDe have confirmed the entire truth Of statements
snA made Introduce reforms into the
nnnaeemeIt. Unfortunately this has too late. Tho
ssey corporate has become much diseased that the
sbeasnn OF the reducing remedies must fail. The
sssd weighed down with It's liabilities. The stock.
holders annually mortgaging their property
teep-r and deeper, and IT, redemption Is annually be-
ssnng more and more hopeless. The company u merely
political machine for the personal aggrandsenert Of
certain ciqucs connected with the management Tho
neC. os propo ais for loan Of bali mlsen OF dol
M anolher small nail in the coia that Win Ultimately
eOcose The remains Of tho stockholders Within the next
Twelve months three fou, nails Of about tas
- win be driven home, and then the stockholders
might wei. abandon all hope. The fact that the Erie
Raroaf Company had nty four millions Of debt.
ssadewing millions Of stock considered fatal TO
shc stock and the that tho New York Central had
smali cebt and large stock was considereda favorable
and satisfactory why thu stock should
sOmrand q premium. As soon the contemplated
Of milAons Is funded the deb, Of the New York
Central Co,sny viii seventeen millions OF
aors. and ny that time the sock viii be about twenty
Ave Millions. This enormous debt must draw largely
ru earnings, aud the capital ssock has reached
sosh imneupc figure the danger Of suspension
- dividends, the least reduction IN the res has
already become great that TIC market value OF the
ssorh sust be sensbly Affected The aggregate debt and
sscrh Of the New York Central Company Is about
sSo 600 ooo will be less hut on the contrary,
INSET annually increase hong unearned dividends
are psd.
The Mercantile Bank has declared semi annual dvi-
Aend ~ nve per cent.
rhe Long bland Insurance Company, a semi annual
aivtaend 81 ten per cent.
m Rshef rre Insurance Company semi annual dvi-
sesc Of ave per This company has been only six
sssshs 1 business, and understand has laid by .
hsnassus surplus In addition The dividend
The Bswery savings Bank has declared It's semi annual
&vpena ~ The Of i've yer cent per sums
hss eve hundred dollars and nj the Of four
p~s larger Also dividend Of one
Ass ne rates above specified both paysbie the Els,
s.s
rh@ Long Dock Company, cf New Jersey, have called
sr iamsnt of twenty collars per share payable on
o. fst q August newt
a Soalays regular semi weekly auction sale Of
sa~ks ana eoras ui take place morro~, Thursday, at
Asn g~s ~ o'clc~s, al the Msrchants' Exchange.
To earpmrs % the Chicago and Rock Island Railroad
c~g~ny for The maa,h n lane 1850 was sit2 oe3 "a
ASAAnst 30 jane, 100. 15SiS 70
h<rease 10 per ccu,...................t SIS, 7ss o5
We gave -asemen, yesterday Of the sales Of by
sAs nhnos Central Railroad Company for the month OF
Ssse or the year up che is Of July. The classi.
sss4sSn q hs June sales vas felis~ss-
a. yTg construction ian<s ,65S 20
10 Acre- ires @nds ...-....'.,s.s..... tssle ~
\, sS acres interest lands. 1885 81
n.Ns s23o, las 70
fS~n br.....s................... znS 10
Averaging sis Sc rsr .s2a1, 2sI %
S<<s ~ a. ss yc@r 80 IVA scses sold for 81 ago ~ Is
ne A~na <lc~ &C this oomEssy In bsss were a. so,.
ss@ coSyurcusS LAWS.
0~g~a R,r,av
<rvxs Faluaf1sa. TaeobL
90 .s ss i. rs -: 80 :. $50 ,s & q, s
i'ssss @~hSh 2ss' 20 -sifs ioSo'.i,cIS ass
assss so go i,Gs5soo
sSs@ Fts Lsna4
&c.. n r. ~ fsn.L