The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-04-02

Al the second board there was dull, heavy market.
Michigan Southern closed .. 7oh, which II improve
mest Of per cent the lowest price. Cleveland and
Toledo New York Central Erie Reading closed the
mornings prices The operations this afternoon were
que limited, and there ID evidently In the minds Of
spectators generally strong feeling Of dsru.t The
future must hook gloomy enough 70 those who are 20
deeply involved In railroad investments - 10 mako II
impossible TO get out without serious loss.
The cemmunioaten pubfshed in Tho HERALD Of this
morning. signed "A Bondholder," In relation to new
issue by the Michigan Southern Railroad Company, OF
stcok TO the extent Of about ave thousand shares,
created considerable excitement In the street and among
holders Of railroad stools generally In regard TO that
Communication the company have put forth the follow.
Ing tfbcal staaement,-
OFncI OF THE MICHIGAN SOUTHERN Ayp)
NORTHERN INDIANA RAILROAD COMPANY.
Nav YoRK, April I, 1857.
An anoay 81 aok II made In the HisALD Of th.s
he souss and Sorssrn Indiana Srosa
Company, and sale Of Il ~ George Brisbane.
inc eh:.se any unso.hcri.sl issue q stock By the
on1cers Of thh company u utterly unfounded.
the original entry stock 70 NJ Brisbane and Ihas
true. the dividesd books show for thesevss and oan
be examined BY any stockholder
use, and some Of ~ sock 70 be used collateral soue
loans were made Of George Brisbane Aessrs Tfaven&
lateral, with the usual privilege Of sale In case Of de-
fault.
There has not been any defsuls every note hes been
met 81 maturity; and yet appears from examination
Of The books nat those gentlemen have been selling this
stock IN the market Without authority. By order Of toe
Executive Committee. JOHN r. HOPKINS, Secretary.
There no denial In this Of the charge made by our
correspondent but en- the contrary ID admitted tha,
The company have made loans stock colateras but
does NOT say 10 what amount or upon how much new
stock. The company alude 70 loans made Of Mr. Geo.
Brisbane, Measrs. Travers Jerome and others, COZ
clusvsly acknowledging the issue Of large amounts
new STOCK in,massd by "a Doe dholdsr." The fol.
lowing card from Msssrs. TrAvsrs Jerome gives the
explanation Of the Affair." a. x - they oonoernsd-
TO THE EDITOR OF THE HERALD.
The namc OF our hrm having been dragged inte the
ooptroversy In regard 70 the issue Of the siook OF ne
loan made them By Mr. George Brisbane We have simply
atato that entire connection with the AFFAIR 10
assist hr. Brisbane In raising The money loaned The
company, and We have made no use OF the stook by.
pothtcaed Win mot strictly IN ,rdanos with the
terms Of the contract Ths olcity given 70 the nat
not u suggestion, and wss, In opiuon
entirsly uncaled for. fRAvERS JEROME
April I, 1sS7
The company assume hat this last issue Of stock has
besn sold by Vie geatsmsn 70 whom was hyposhcoad
fhs does NOT follow from the facts developed. may
have been potheoassd and loaned 70 oshcr parties
Knowing that IN oil 10 the Of the street 10
sell securities hypo heated, occurred 70 that this
moi exception, and We are stil Of the
opinion.
The steamship Africa from this port for Liverpool,
10 day carried out sses,ls 10 In specie.
n a. A. S~u