The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-01-31

A. Fl. Niooay's semiweekly suction sale OF stocks
and bonds win take place to morrow, Thursday, l2k
O'Clock at the Merchants Exchange. The Isl
prise fret class insurance and bank s.o,ks.
The Bank Of the Republic declared semi annual
dividend Of five per cent
James IL Cook has been appointed Bank Snperintend-
en il place Of Marcus schoonmsxer resigned and the
appointment wss this morning. ooafr mel By the Senate
In executive session.
The oean Journal states that the Western Insurance
Company Of Oesn, Cstarau gus county has failed
is eGscs have passed into The hands Of q receiver.
The Hariea Railroad Company have been applied for
the Of the receipts OF the road for the
December last but they refuse to make known to
it's stockholders Why this secresy Is insisted upon by
the direction is best known themselves. The stock
holders have perfect right to kno what the nsome OF
their property is and it ia piece Of oitrary presump
tion the part OF company to withhold IT, lis to
be hoped that Of tie direction specializing in
the stock tina. Induces them to pursue such arbitrary
TO conceal from the stockholders and the public
their income, any other valuable inf,rmstion. II
certainly looks very queer. No company ought to be
ashamed Of income OF 500 900 500 00c moath;
and this company did receive in that neighborhood dur
ing the month Of December last In December 1854 the
receipts ss3,493 secresy the governing pn spe
of the Schuyler direction and pubic an the stock
holders have learned TO their dangers attend
ing il. Their experience in ths. respect has beea
dearly bought and it is tbe- fault if they permit
any direction 70 pursue the course fon,wsd under
the Schuyler administration. Banks are compelled by
Of the Legislature to pub ish weekly reports
they possess capital Of only half mill; of dollars
whilst the railroad interest," this country hitting
70 hundrt DIS OF millions Of dollars ia comparatively nsg
lected by Legislature This company aione possesses
capital Of between Line and ten millions of dollars,
and it Is well known how ,hat capital has been abused,
squspdsred aud freuduen iy applied by some of tbs
officers to their use under the Schuyler msnagc
nen and it is not OIL, indecorous but arbitrary
refuse 70 give the stockholders information respec
ing their property. AL companies make mp their receipts
rnonthy ana they ought TO publish it, the stock
holders are scattered various parts OF the country
This company have only Published report to their
stockholders Ia sbor. Eve yesrs that they
kept rey In the dark what going ia the mys-
terious direction chamber, with doors shu billed and
ccked They obtain loans issue bonds large amounts
(sometes tie extent OF miliions) and they have
OF nearly 800 monthly continually ing into
the control of the erection which amounts to nearly
81 coo annually; YET the stockholders precluded
aay nio nation relative 10 What disposition is made
gift alspse ofsone years when it suits the wishes q
the directors for their purposes to publish it. This is all
wrong The Legislature ought TO examine into this mat
Ter ard pei ell paaes Ia this State to publish at
least once In each month the aetus amount Of their
ritsl stock Issued Of all kndsthe amount of bonds
paic-6oefing deb.-receip.s from passengers and
freeht-revenue from all other sources-also amount
psiS for operating roadamouus paid for construction
sccount--amount paid for div dends, any-amount
paid 20 al other sources, And for what We're Legs
laere this they would do incaeulabe good to the
whole community and to The stockholders and would be
The Of preventing the public from being gued BY
the Of the officers Of such instations
NV daily
made in Ws street. eher to in prevent persons
from purchasing the bonds in rail WY cou,pa-
MES nay best suit the whim caprces interests
Of the Wall street brokers' And the secresy observed by
these companies enables carry these fraudulen.
Representations TO very large extent BY witch the
public suffer Secrecy is attended with many evils and
is averse to policy Of the Institutions Of country
and pursued by this direction Is calculated to
make them obaoxous to their stockholders The cleo
ton Of di ectors 70 take place in this company Will
very important change in the board, It is felt
that road has been most miseraby through
cut sl It's operating departments.
The track OF the Marietta and Cincinnati railroad now
laid Big sandy Greek, fourteen miles OF the o.
Athena to which point the road will be completed and a
opera ton early Ia the month of Msrch nex@
The following Is statement of the business OF the Vii
wauhie and Mississippi Railroad Company for the year
ending Dcc. 81, 1900
Net earnings for the year. 443 10
LEES intereet on funaed debt -. .s155,876 90
Less July dividend ............., AZ SAT or
LEES Jan. dividend. per cent cash 47,791 30
Less January dividend, per cent
stock $50 900 Of which repre-
seuts the sum deposited to the
credit OF the sinking fund. So 0Oe 66-3l3 e22 90
Surplus for the year .si03 SCI Is
Add surplus set apart the previous year 64ot3 G5
Surplus fund at this time .......... 1857 5s4 so
The gros@ earnings the year 1911 S43 90
Earnings Of 1864 456,S6i 90
Increase over 50 per cent. 1924 s7e o.
The road s now in operation from Milwaukee TO Msdi.
son. SO miles and its proposed termination Is at Prairie
d. CAisn, On the hsissippi river 100 miles further II
is unier contract 70 hat ut TO lie finished on lat No