The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-08
FINANCIAL AND COMMER csAl


WsDSNDAY, Ou. Tsp. n
fbs stock market continues dull and deprs sssd rhe
great staple Of The msrte railroad stocks such bad
reputs generally that every k.enp made by street spe
rAisrs 70 move pices up, met With large oprss Of
stock TO SELL Wall street Is literally running over with
fAnsy railroad securities The speoulasing brokers are
uG Of them and ID easy matter 70 Garry them lost
AZ FOR hypo.naostng them utterly out OF the
question Al the first bosyd loday Virginia os decinea
pcr oent; Mis- ,ur es. *; American Exchange Bank
PMk Bank, Metropolitan Bank 2; Delaware and Huosou,
q Pennsylvania Goal, Y; Ne~ Haven aad Hartford Rs-
road, l. Now York State es, 1872 advanced per cont;
New YORK STATE s., 49, N Michigan "a, 1; Erie bonds,
1871 l, Etc Railroad, " Reading, *; Michigan Central
D. Panama I; Illinois Central, l. GseaS and Chicago,
CIevo and and Toledo Chicago and Rock Island, MI
wauhie and Mist Gpp; ~. There rather IN active
movement In Reading, and tho ock advA6ced little
De opening cash pm 70, but closed ri a. seller 30 days,
showing great difference caah transactions This road
has gradually sunk from par To twenty-five per cent Tho
road has been dvivdena paying for several
years past, md had ceased 70 ba fancy. Sound
buslness had Invested their moAey 10 IT, AMI many
widow and orphan depended for . living on the
annual d sribuhon Of In pvonS. Such the ocn
cl'ion Of the company when Mr.. John Tucker, the
late President, left Il Ia hanging by the
eyeds depending for IT, credit ss abroad
and though anased with uIoss honesty by Its
prtdena and Ard Of directors IL inv osed In din ,alaes
the end Of which mol easily In thsse boserous
.imes Half the oolers in schuy i county pros!ras
co. and 18th them every interest section The
sequesos that business he Reading Railroad failing
or and the GOAL trade no. furnishing it, nsusl tonnage
The gentleman II the head Of the Reading Company vas
b and bred . merohsD,-au Esgiah nerchan.-s,ous
toned meet his OBJ igstons u moment Of maturity
and .1scsng the puDctusdty from others. rnis
DUCT joined bis unmpescnabis yeottade, has justly
the confidence Of she wealthy Enstsh houses he repre-
seDs but bss made the company very unpopular along
hs road diverted much Of business other
channelA Our young, gro "ng end feeble communities
ba managed with The riedy Of the old established
frm Of Erslsnd They look for ndagenoes In hard times,
sod repay them when they able Between the col
and the railroad company there exists reciprocity
Of INTEREST," and Tho popularity OF the road and Its prss
dent u important element In its prosperity. Bsto be
hoped that the com any will ulims:e. be able 70 meet
all IL liabilities, and be able to wait for better
times; but imp'rtant improvements will have 10
be introduced into Its management to bring abos.
suoh crafty Ing results. All Of railroad compA
rss muss their attention TO system Of manage
rent conn ets ana thorough chlnge will have to
made In their internal ArrAng and the modos OF
operation In most VI them the stock has been literally
annihilaed, and doubt IL can sgln be revived TIE
bonded interest about the only ef and will require
the my and the best Management 70 preserve
even that We lately exposes made OF railroad
finances by the management themselves, much worse
,bsn anything ever dreamed Of II has been shown that In
GAMES where large surplus appeared amor The pay
ueut Of the Last dividend moro dividends can be az
pecsed for years These arc fAcs which have been
striving 10 long bring out and what failed In doing
hese hard times havr done But for the immediate hnan
ca necessities Of the different companies fastened By the
dryh up OF tho usual Of supply We might have
been kept In the dark years longer We nov know jass
sbo Il where our railroad companies stard snd Il will be
very dcut for them again up their condition
from The public eye ne public will have nothing moro
70 do with their socks In vessmens at anything Ike
prices row rurs ~ much reduced hey may appear.
The following ssles Of stocks aud bonds were made 1t
auction this mornirg by Albert h Nicolay:-