The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-04-02
AND COMMERCIAL
MOuEY MAAKA ~,

TUESDAY, April l-6 2. NJ
There little life In the stock market to-day.
shsre were larger operations in al the leading stocks
end pretty general Improvement realized NcAra-
guA Transit advanced 4 per cent; Erie Railroad, u;
Reading, III Hudson Railroad, y; Gaena and Chicago,
VI Cleveland and Toledo 4. There was more inquiry for
Nicaragua Transit II opened at 13 and closed At l3x
psr cent Erie appears to be gradually improving under
ths influence OF the report There are however,
plenty of sellers time the slight advance So long
a. railroad company continues to spend money in large
amounts long the stock must rema depressed. The
expenditures may appear judicous and they may add
largely the business and income Of the company but
y does not follow that they add anything to the
net income, to that fund from which dividends,
paid, must be drawn. The proposed expendi-
lures in Jersey are undoubtedly required, blu
they may not prove profitable The Erie Company
viii not make the outlay at that point directly,
bat 1t viii do more werse-t will guarantee six
per cent the expenditure without deriving
benefit from whatever Improvement may be realized In
~ value Of property II merely leases the Land, bui
hgs, docks, &c . term OF years ct certain price,
Individuals making the expenditure having the sole bene
Of any enhancement of value the termination Of the
road 1T that poiot may ultimately The company
probably could avoid this difficulty, but il does not
weaken at all the point ut issue large amount must
b indirectly assumed for these improvements and that
liability must be provided before the
derive any benefit from their investment 1t is placing
another annual payment about hundred and fifty
thousand dollars between the stock oders and dividend
We therefore repeat that long the 2any's la
bfisies annually incrsssing at the rate OF
two millions Of dollars, the stock cannot improve
much in market value The report inst issued able
Aosun ent snd does great credit to Mr.. McCaum the
sompanys superintendent. Every stakeholder
thoroughly post himself IN regard TO this property We
have for the nrst ime been able by this report to get
proper sight into the affairs of the Erie Railroad Com,
Da0ys and If such exhibits made annually,
need hereafter plead ignorance of the conpanys cond,
taon What makes this report particularly valuable and
- statements Of much importance is the cast iron
honesty and Independence OF the panys superinten
dent. TIE whole cement Is OF superior cter
and every man frem the President down, to DO
inst What Ia right. Every confidence therefore be
placed 10 the figures and conclusions drawn from them
n the report I. is only lately that have bsen ole
sAy this much OF the E.ie Railroad Company and
v1h could say much with equal truth of the
New York Central That company wants q Mccall
INN to give its stockholders q clear. insigh, in
10 Its affairs. For years we did everything 10
power to expose the folly and extravaganza
Of the EIie Railroad Company. We stated, aud
sgain, that the dividends paid earned
shss the construction account annually charged with
operating expenses; said good many things all Of
which were at the time rs true as gospel We bsttl.d
< the stockholders, sing handed and alone for time,
almost hout hope, but with the conviction that
u later would triumph and that our reward
would be the silent thanks OF those for whom fought
and conquered. That point has been gained, and the
public with u.s. heart and soul, in all efforts
70 protect individual interests against those Of
Yupt corporations. The Erie Railroad Company may for
long time suffer less the bad manage ment
Of It's early years, but Il is in good hands, and
long its affairs continue to he honestly administered
hall do all in power encourage and sustain the
Individuals upon whom the responsibility rests.
After the adjournment of the Board tine following sales
OF bonds and stocks made at auction by Simscn
Diaper