The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-01-10

$e46 pay the debts OF the company and complete
the road Practically this lease would convey the work
great central line to Steubenve The essees agree to
pay per cent per annum all the stock held by the
city OF Pittsbug county Of Allegheny individuals &c,
until the road shall be opened for business and they
to permit any citizen Of Pitsburg Allegheny county
to become associate lesseee with them, who will sub
scribe and pay in called for before the frat OF Feb
ruary 1856 not less than thousand dollars Before
the agreement becomes binding on either party the
the Councils of Pitsburg and the
Of Allegheny county shall be formally obtained thereto
and they shall by ordinance provide for the passage of
the railroad through the si'y in such manner rs will
vania Railroad and the other roads leading from the
city east Yard either q. the foot Of Liberty street. BY
the Pennsylvania Railroad on that street.
READING RAILROAD.
To THE EDITOR OF TIKI HERALD
II now over year since the business and prospects
of the Reading Railroad presented to the citizens Of
the city of New York. At that time the stock hell
in the market by few inc viduas at SO 10 go per cent
Now, with all its earnings and numerous advantages be-
fore the people 1t Is hanging in the market upon the
skirts of its usrous coemp oraries at 9s to s3h. In
and instead Of resting in the hands Of about ftyve
persons who held 1t for fancy operations 1t is per-
man.nty lodged with 246 persons who looked into the
nent income. One gentleman with whom we are ia
milar purchased 100 shares the 9th OF January,
1855, at 90 per cent costing him 49, On the 18th of
the same month be received 10 per cent dividend in
stock, now worth s466s in July. had another dividend
of per cent in cash. which ITO shares netted S222
making $e87 about IL per cent his investment.
But the price has advanced to 90 per cent he this
day close up his account with clear gain OF 81 $40,
equal to GO per cent upon the original cost.
This result 1t will be understood, is but the return OF
100 shares; and as have balanced the and
pocketed the difference must look at the prospect of
d re. investment.
In the monthly statements officially given it an
pears that the earnings of the road equal to dv
dend Of IA per cent the stock with surplus of to
per cent This excess, which properly belongs to the
stockholders it is understood win be appropriated to the
liquidation Of the floating debt and the amount in stock
will be returned to the stockholders time during the
present fiscal year. 1t is also known that the net
cepts for the year just closed $500 900 the
cepts of 1854 and from the various connections and
the otherwise ncreafed facilities for business, it ia be-
heved the in 1856 1855 will be considerably
in advance. Yet If limit the business to the present
income-whch familiar with the operations of the
work will be unwilling to concede-we have ample
margin for believing that the price Of the stock must ad
to $50 per cent With less prospect and certainly
less income, we have contemporary works at higher
figure and all the advantages before the public,
view the work in better condition for the advance
than was in the beginning of 1855. We therefore, be-
lieve in the following, and present it with conf
dence than did in the beginning of 1885, Say we in
vest follows
Jan s, 1sae-Bought 100 shares Reading at s3
Receipts from dividends due, 10 per
Receipts rom dividend in July ii per cent 700
Receipts from sales, Jan. 8, 1857, at 100 per
Equal to 65 per cent on the money invested.
J.M.s.