The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-01-28

NE Erie and Northeast Railroad, I'VE PER cent payable
FebruArya
Tho Manhattan Gas Company hes declared senn'-an'
nual dividend Of ave per cont
Tho dividend declared by the managers Of me Kei aiog
Railroad Company Of four per cent disappointed the osd
stockholders. Tho statements and reports WHOM nneo
the organs Of bull Spectators for some time pest pro-
missed much larger results. According 10 these sts'e'
msn, the earnings 1850 promised much larger results
than those Of any previous year The net income was oil
Of half million less. The working expenses were 70
have shown considerable reduction; they were much
larger The Seating debt to have been considerably
reduced II shows large increase, while consideraoie
sum Of money has been swallowed up In the old way, In
construction account On the subject Of construction &C.
count the old reports Of the company arc correct
When Mr. Tucker President OF tho Beading Railroad,
he frankly admitted in Of his annual reports, that
construction accounts would be closed and no ~
tempted to prove that tho interests OF the sockhode
demanded the extension Of the work from year to year.
In oil it, departments the better to DO prepared TO NEE:
the requirements Of an Increasing trade Mr.. Tucker
forgot one very important hct-the past history OF MS
great onterprise-wheren he could learn, without any
difficulty, that the business the Reading Railroad
Company had transacted the money It had lost.
he has not made this discovery, We hazard nothing
saying that his successor will There IL no public
work United States been the football of
set Of stockholders TO the extent Of the Reading Rail
road and no enterprise in which those Interested have
been more deceived. No company ever organized has
been pundered to the amount when the extent OF
its capital coniidered. None have been compelled to
pay higher rates OF interest," more for money TO keep
clear Of liquidation None have mad greater number Of
outside cormoran who have taken advantage Of Ito ne
cessites 10 al their pockets An fancy stock, to
be blown up and down by bull and bear operators 1t is
thn IAahn
one In the New York market. For the past few years
the best and most profitable Of Its existence has
never enjoyed . permanent position scarcely
month at q time. There are innumer&Sle reasons
now why It cannot attain anything like . solid
permanent position for years TO come. enters upon
new from this date. II comes into competition
with other grea railroad enterprises which enter GOAL
fields equally prolific In schuylkl county and lind their
opposite termin nearly within the city OF New York.
Is embarrassed again with floating debt Of nearly two
and MALI millions Of dollars and we are not mater
ally mistaken In calculations, the managers Will re
qure all their motive power TO carry along this debt,
without pay ing much attention TO the transportation Of
coal Another important matter comes 10 Of this point t.
agtate the Of any board Of managers Railroad
reports are losing their potency, and dividends from
bonds, stocks borrowed money cannot by any
possibility be swallowed much longer. The public
ditona application Of would be fatal There Is oneac
connected with this company stockjobong concern,
Of interest Those who have uset IL for their
speculative operations for years past frequently at the ex
pense Of their individual commercial credit and some
times Ut q risk of their commercial existence keep ~
YET some two three Of the large ones who resiae In
Philadelphia had the courage and good sense 70 Gu
themselves and runaway from it, but those In this
city, have seldom b, Id less than some twenty to tnr
" thousand shares, cling 10 still with the greasest u
nac not hesitate to spend the better part OF
day aborng in influencing others 10 buy It, No year In
the history Of railroads has many e1pedens oeen do
vsod keep public confidence ave - in the year just
closed, while no year has shown more Enthusiastically
th,ir inability the extrsvagant and Confident o.
culstions OF their managers and stockholders.
The construction OF the WATERFOWL and Madison (Wis
consn) Railroad Is rapidly approaching completion. l.
will be finished In time TO get the benefit OF the fall
trade The line thirty three and half miles 10 length
From Madison 10 Mwsuke by this route the distance Is
seveIty eight and q half miles BY the way OF th,
Mississippi and Milwaukee road the distance is one
hundred and two miles, showing saving
twentv- three and half miles by the ws'oss'~'
line. Tho Madison and WATERFOWL roAd has ruunink
oontrac, with the Milwaukee and Waterfowl road, (now
consolidated with tie La Grouse road,) having tnirJ
years 10 rum which gives them through line TO Mwsu
HE. This company has q larger amount OF means for
construction according TO ne length and cost than any
railroad com pany la Wisconsin, aad In this respect or
cecded by few elsewhere having over s2i, 900 per mil
without. or ,oco per mile, including nrsi moriesg
bonds, made up as iollcss, VIZ -
Msdson City per ceut bonds .............sloo, ooe
Waertown g per cent bonds .............. 20OV0e
Waterloo to wnship per cent bonds. 35,0ot
harm morraso per cent bonds ............ $4,000
tractors as cssb ls5,0G
Total ..................... ,ooC
The com papy issuing first mortgage ooads at
the raie q eiet0o per mile, 10 pay for their
iron; 3Sk miles 81 $40 600 mile, AMOUNTS so $500
Total ,oso, 90.
The directors arc sl engaged IN getting subscrp.ionl