The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-02-12
FINANCIAL AND COMMERCIAL.



oe utosk market doss NOT present very favorable -
ue 70, holders Of ths fAaoy railroad securities There
was quite . stampede thh morning among holders Of
uoh,ssn Southern and Cleveland ana Toledo Railroad
stock The former fell or 3k per cent and the latter
Tar cent The rspday with which these two prominent
railroad stocks have down should lput holders OF
other h,sh priced railroad stocks their guard Until
within the past few weeks the stock Of the Michigan
Southern railroad company was pretty well maintained.
ranged nom SO 70 90 psr cent and the clique having
IN charge put forth through hs organ al sorts Of STATE
nents IN IT. hvor. Fortunately, for some time past the
public have not been disposed TO touch H. The stock
hes been In bad odor with al operators outside Of the
Oh que referred TO- and they involved with s
financial affairs that became absolutely necessary TO
sustain prices d any sacrifice. II well known In Wall
suees Who been the prime movers In keeping this
stock alive 20 long; but not so well known who are
the sufferers by The rapid depreciation TN market value
rhe different oques engaged In bolsIerng the different
prominent railroad stocks 30 ntimatey commented
With The finances each company that they manage to
saddle the upon the stockholders, when osse'
OCCUR and pocket profits themselves whenever profits
sppesr The leaders in these cnques Of specu
a,ors consider themselves entitled 10 the prone
# there are any, for sustaining the stand
ps Of tho company In the market, and they also
consider no more than right that the com pany should
shoulder the there IN any for was In the service
Of The company that incurred This very beau
ful game for the parties Immediately concerned, bu
,ure death TO the stockholders. These railroad oompa
p,es should open account In their books headed Cos
and e1pe pse of sustaining the market price Of the com
uaDy . stock" Az extraordinary this statement may
appear TO the public, IL strictly true. The mission OF
the Vice President Of the New York Central Railroad
Company 10 Europe 10 part and parcel Of this system
of 6nspcieYirr II the stock suoh wonderful invest
ent there necessity for mourning such an expense
in putting upon the London Stock Exchange There
already want Of good investments u homo, without
mahng such efforts 70 get rid Of them. The agent Of
he New York Central Com pany sent to London 70 sim
pfy open transfer books that capital 70 receive saA
~ Of % 900 and large outfit The fact Ii that the
apaneieYs Of the New YORK CeptraOompAny have Antc
pAted the decline Of that stock in this Market and have
eadeavored 10 bolster BY this foreign movement They
very well that the New York Central road has seen
it, best days and that people this side cannot be de
cs,ved much longer, and that outlet must be PROV
ded for the stock possible comes upon the market
A year or two since, Michigan Southern was . much
better stock than New York Central ever was. and
look at the price for to-day. The snme
system OF fnancierng that has extracted all the HE
blood nom Michigan Southern and Cleveland and Toledo
has brought New York Central 70 the verge of the
precpce nothing in the world prevent is pitch
Ing headong 70 destruction. There IL no railroad In the
country that can stand this eternal docorng and du
uon this pling up Of debt and STOCK this paying Of dv
bends by increase Of indebtedness and there hardly
railroad IN the country but that rapidly approach
ing bankruptcy from the operation Of the
The example that holders Of railroad stocks gene ally
have In Michigan Southern and Cleveland and Toledo,
trust will be without its effect the pubic mind
Amer the adjournment Of the board the following sae