New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-02-18
Incre,.e.siSsl 60

b,ande are O. 2s6S7 i34. Wheat u firm but not
active Rye is also firm; 900 bus. sold az 81 ga
O. -. Com is heavy End abundant Southern and
Western mixed 7e SIC. Nolasses continues 70 have
. downward te1dency Coffee is active and buoyant.
The advance within the week is Ia &C. Sugars are
finn with moderate business. Pork il active and
finn: Messsl5 81 and Prime sl3 81. A sale Of 500
tcs for August delivery was made at SIS 50. Other
uroyisions ere without much change. There i fair
activity in Cotton under unfavorabe advces from the
South. The sales are 4, 500 bales. The advance with
in the week If asc.
The transfer books Of the Harlem Railroad will in
future be kept at Ne. 80 Pine street, rear building
where also the business of the Treasurer Office will
be transacted.
We believe that il is admitted that general thing
the rates of freiehts and passengers on the rail-
roads OF the country too low TO afford fair return
Of the capital invested and furnish the best of
safely performing the service. This will specially APP
n 10 the roads Of the New England States where for
the most part the roads have cost the highest rate per
mile and receive the least compensation for the service
they peform This remark applies with special force
10 the rates charged many of the principal Eastern
roads for freight since, indeed it is very doubtful
whether these roads have received any profit after
due allowance for and tear in the carrying of
b.ayy freight We understand that the Boston and
Worcester. Providence and Worcester and few
other companies have already taken up this subject
with determination that their freight business shall
hereafter pay better than has done. II all the roads
of New England will have proper understanding
together fully remunerative tariff of freight and
passenger traffic can be agreed upon and
Iied out. In some cases local competition may
operate against perfect arrangement to passenger
rates but in all il WILL We believe, be found just
easy 70 ,et properly paid for carrying freight "a il is
now to do the work without profit. We firmly be.
eve that proper attention totnis subject would in
tine bring most Of the eastern lines inc state Of pros
perity sufficient TO enable them TO pay dividends At
present, with hardly than half dozen exoep-
tons all the railroad capital of that section scarcely
pays anything to its propnetors and most Oft nothing
at ALL This subject was forcibly put in preamble
and resolutions offered by JoelW. White, esq at the
annual meeting of the stockholders of the Providence
and Worcester Railroad Corporation on the 4th inst.
They were referred to the Board Of Directors
"Mr. Joel W. White submitted the following pre-
ambe and resolutions which he supported in an able
and interesting speech. He said there must be radi
cal change in the manner of doing business upon
New England railroads, or the immense amount OF
capital invested in them would soon entirely be bloted
out He did not believe that there had ever been one
dollar made in the transportation OF freight. The
Northern roads had shown this They have been
out in the transportation of freight, and they are
now bankrupt, and the stock utterly valueless.
where's The capital invested in railroads ia New Eng and
has become in amount of the largest and hsyng been put
there by public appeals to the philanthropy and avsnce OF all
classes Of society 10 dsgorge from their acquired gains the
millions referred TO- under of liberal
tion Il the grestest benefactors Of the age
Ind Whereos By lesson Of experience has been found
t,i tbsy onIv want vouf csrita locked M in railroad
cOrpoatiOn and they raise the enoT OF monopoly
freight and passengers If granted accident
lawyers judges Jurors and legislators are all mpored TO visit
uro bound and filtered stockholders the most
reasonable requirements and damages under the deusve
Of monopoly when the stock of the company unpoduchve,
not uIequenty owned by widows and orphans and trust
fund.-, whh the shewd and sagseious have put upon the I'M
And cSeSeGs The spirit competition the of
railroads great swell the increase, they resort 10 great
sIeed frequent trips lower prices doubling aud ,reblng
tie harards and tear something from rival
road This engenders spirit Of retaliation that produces
prices aud hazards most ruinous and destructive Which with
ordinary expenses all the gross income leaving the
s.oeiheldeT uneer his ereat monopoly wholly minus oi IN
Resolred, That - be Committee to COOPERATE with
similar committees from all other railroads in New England,
soliciting convention 10 be held IN the Ciy OF Boston a. a
early practicable and said Committee be authorized
from day TO day during its session II they shall Judge their
to be OF value they represent
efbt end passage to point that shall prove
produce for the stakeholder reasonable return for his in
tDher ,eolred That said Convention be requested to
adopt efficient avoid competition between
oupetng railroad lines BY removing all ndueement, and
adopting equitable mode OF division Of the receipts
ar.ug from such business would fairly within compei
ton establish umpires il the parties cannot who shall
award to each Corporation their Just proportion OF such receipts
under the circumstances herewith connected.
urfher re'olreS That said Convention be requested
recommend suitable plan Of lsgs.toa to be adopted
change Of public sentiment and not require the interest OF
the POOR stakeholder railroad to be hunted down like game
under the deluye Of monopoly when his capital alone
gives vitality industry and comfort to the travelling public
Re II further Reel,sd That said convention be requested
to call upon the LesauIes Of New England, restrict the
speed Of trains in running time not 20 exceed twenty
miles per hour These will materially lessen the eIpen
Of operating railroads and also be al set Of humanity
tecg the lives Of and operatives IN the RAINING OF
II fuyer ResO,eS That the stockholders of this Com
p.ny Individually and collectively pledge their influence 70
support contained in the foregoing resolutions
send Of he preamble and re.ouo.s 70 ali the railroad
companies in the New England States and solicit their
operation in consummans object Of 'seh paramount and
ulutaa interest"
MI Paul Spoflord CSpoaord, Tleston & Co.. has
been elected President of the Commonwealth Bank,
vice Mr. CroDkhite resigned.
The Mahatan Life Insurance Co. has declared dvi-
dend Of interest of y cent the scrip for profits de-
clared January 1854. The provisional fund SAT- l93
in addition 10 the cat. stock Of $4,000 The assets
of the Company $3.50 567 including sl6s 800 bonds
and mortgage $3.50 500 premium loans at 7 p cent
interest premiums in course of collection ESQ 420 sc.
The premiums received during 1855 were sl55,2
ard the losses were s72 6ls.
The Morris Canal Company have arranged for the
renewal Of the p cent Coupon Bonds of the Com
pany due the lst of April next, by the issue of
= cent Bonds at S. which is little more than equal
TO y cent.
The tunnsge Of the Reading Railroad for the week
ending on Thursday last was 1857 tuns, making
for the season 2o6 Olo tuns, against PAL 687 tuns to
corresponding time last year.