The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-05-25

government price, and IN passing through two or three
transfers have increased ten fold in market value. and
purchases have been made with prospec. Of payment
except by immediate sales at still higher rates Every
one Is looking for purchasers, and when they
longer be toundwhen prices have reached degree Of
tnaauou beyond which the widest specu'aons can
not carry them, then the collapse, and tracts Of
land, which have in the perhaps Of few months
changed hands dozen times, will fall back into the pos
session Of tao party parties who probably entered them
at government prices. In this way the bubble VII! bur.
and scatter The whole army OF spectator. few OF
those who have left their New England homes may hnd
permanen. locations and be able 70 retain possession Of
thes purchase by having paid Zoe in full but the great
mass Will perhaps return TO the places from whore they
started, Ike struggling and way soldiers from held
d battle. disappointed and dishearened but disposed 10
turn their attention for the future with cnergy and
perseverance, to the ordinary duties OF life.
We have received from George D. Phelps, Esq, late
President o. the Delaware, Iackawnns and Western Rail
road Company, pamphlet, being history and reply u
the report Of an investigation made By committee into
the AFFAIRS Of the Company an published by the Board oil
Managers. Mr. Phelps reply embraces many state nAuts
and iscss going 10 show hat the said investigation, FAR
as he Wa concerned, unfairly conducted; that many
points o. importance Suppressed onltsi, whl'e
others were unfairly distorted introduced 1t Is due
to Mr.. Phelps that his statements should be as widely
knowa and especially among the stockholders OF e said
road, as ie report made by hire committee of investigation
and published by the Board OF Managers.
TSa rapid Increase In railroad liabilities il attract
ing public attention throughout the country. and hoters
OF railroad stocks getting rid Of them fast posi-
bic The Philadelphia Ledger Of the leth inst. says:
The accumulation Of debt By railroad companies does
mol stop Every Jay, and Frequently several times the
tame day notices. meet eye Of offers TO sell bonds Of
preferred stock and such sales daily effected at most
runous rates OF discount Not do we hear
OF railroad funded debt being legmate!y paid Old debts
are sometimes cancelled by to much larger
amount being made With other credios This tang
cannot last always An instance before us is the Of
three million dollars preferred per stock half Of
which to be paid for cash. and half in the old stock Of
the company The 81 500 600 thus raised together with
other assets in band is to pay the floating debt, and
able the creditors to the financial affairs OF the
company without further hndrances Another othe
iDsatiae demand for money Ia furnished by the Mi
neral roiut Railroad Company, which offers TO cell $780,,
0G0 Iowa county per cent bends due LIST July 1898;
$4,000 ls mortgage sinking fund per bonds Of the
company, due 1st July, 1884, $l5oD00 "a mortgage do,
due lat Ju!y 1893; $50 600 town Of Mineral Point
Gent bonds, due LIST October, 1870. The Harrisburg Rail
road Company and tho Wilmington Railroad Company
renewing. with increase their old loans and the Morris
Canal Company Issuing Of its preferred stock 10
pay dividends to common stockholders. SO we go.
The expectation OF specie from this port lAst week
much less than anticipated There wac no Collins steamer
from this por. yesterday which probably Is the cause Of
the small shipments.