The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-06-11

Bought 10 Gaiepa Observation-Disclosures. 89x-cash
100 do .............. as -b6o
| 1OO do .............. s21-b6O
Sold 80 es rsSD Rock Island s ss-r
60 do ................ % -r.w
lee New ok central ................ s2k-cash.
lN DO ................. S2H-b60
Mr. i. s Bond for many years secretary and acting
treasurer Of ths Cincinnati Hamilton and Dayton Railroad
Company has been elected secretary and
Allentown Railroad Company In place Of E. L. Smith, who
has resigned.
SUBSCRIPTIONS 10 the eight cent land grant first mort
bonds OF tho Chicago St. Paul and Fond du Lac Rail
read we learn, coming IN very rapidly a tho Com
paDy office, No IL Wall street The right to subscribe
for the stockholders until the Goth instant These
bonds secured upon tie entire and line roads
from Chicago Lake Superior upon million of
Of the grants CT public lands from Congress, made to
this company by the States OF Wisconsin Michigan
companying each bond will be scrip certificate en-
tpg the purchaser his assgnccs his option
shares of 800 each of privilege land grant
electng q: any time within two years from June 1857,
to subscribe and pay ten per cent OF the par value there
of tho to be subject any further
mens but TO be credited with proceeds Of Of lands
unit, full paid to sbaro dividends be entitled
pro rata provided by said company and set forth in
said stock privilege certificate, and in their circular 10
stockholders OF Nay 90 1857 1hs subscription price for
said bonds be eighty per o. their par value and
crued interest payable ten per in hand per cent
Is, July next and twenty PER cent each of the frs
days OF August, September and October ne1t much
parties may elect at tao ofHce Of the company
in New York The scrip certificate accompanying each
bond giving the holder the right 10 take ten shares OF land
grant stock upon the ment Of FLO per share must be
muier OF important consideration. inis STOCK will have
the follow. ng rights privileges
1. No future assessments sill be made upon it.
q AZ the nds are pso ana Cancelled by tas proceeds
OF the sales OF the lands the smo OF such paid aud can
ceed bonds shah, from time to time be credited To this
land any ok which may become entitled 10 the
priyi ges) Until i, shall be made ail paid Stock
8 Il ~ll idends and be entitled to at all
times pro rdia according to the amounts which ahs have
been la!d, or credited as paid upon i
g. OF the 10 per cent made a, any time before
the expiration OF The two years Nil draw ten per cent IN
;eres, until thar ,u'e, tprcaxed 10 dividend
The above hbe,ai stock privileges, optional rights,
intended to be limited to the present issues Of bonis
and the company do anti ;pa'e Offering largo prvi
leges issuing bonds bearag than per cent in
terest hereafter.
The steamship Arabia from this port for Liverpool to-
day, carried 81 26b IA II specie This makes
expectation Of than and half miions thus far
this week. The two saturday will take out
msn, making grand tyal, for the six day Of
three and half millions OF dollars. drain at this rate
for any length of time must tell the general supply
does not that Of this city The city il at present
drawing largely from the country and Europe drawing
largely the city. 1t may hot show its effects for
come wees but when |. does will be dis
| astrous.
The steamship Eiicssen at this port from Il -crpoo
gives Us three days later intelligence from parts OF
| Europe. The Loadon 7inei of the 18th, says
In the Stock Exchange this morning there q full
supply OF money from 10 % FER cent, bat later in
day increased demand wac observable. The dis
market without pressure, bat AT the bank the
| applications were numerous
The closing qunlaiions for ols e3< ASK per
cent The bank returns considered satisfactory,
bat the large Withdrawals or sovereigls for expectation
since Increased the prevailing inactivity tho expor,a
o: silver The East would be about 900 by the
regular steamer The financial adviccs rom Trance
/ rot encouraging The cotton market quiet, without
oh, pgc in prices 10 breadsiu- nothing to
/ report. The demand Ii ntoc aud supplies gJU.
Albert H. Ncolays regular seri.weely auction sale or
soS and bonds will take place to moero~, Thursday at
bali past 70 O'Clock, at the Merchants Exchange An
! uiEally attractive LIST of securities ~lh be offered
The Wisconsin pa 10 with lengthy articles
10 which the stock Of the Milwaukee and HORIZON Railroad
Is highly exloed. We alrea iy expressed views
of the land procc. Of his company, regarding ~ the
most straightforward, tho most feasible, and the most
likely In large profits the subscribers OF all the
railroad pro eos OF which have any knowledge But
the stockholders interest In the lands OF the company
represented by what termed privilege STOCK" be
very dsncon for while, the rad progresses and
time passes the land necessarily In value,
the road tse In the case OF every railroad, must dc
preeiae the ratio Of and tear. Ia true that great
exeruons are made by this company, and with marked
success the privilege stock those no purpose
ung the sDn which viii doubtless to the road
more active business in the Commencement, than
10 western roads, and may make the ordinary
sock n paying concern; but experience should warn
~. tp,, g~r r
the ordinary stock Of any road. Tho profit the public
may rest assured, ia IN the land.
We learn from the Boston RgiUzy TinaA that tho Lgs
atare Of Maine has enacted law regulating the forcco
Of railway mortgages which provides that is reid
sal neglect psy any bond coupon due within ninety
days after present 10 The pe lent treasurer,
shall be deemed breach Of The condition or the mortgage
by which u. Iay meni Is secured. II shall thon bee the
duty OF the trustees call meeting Of TIC b0ndhoders,
and each holder thal have VOTE ether in person or
by proxy for every hundred dollars held Represented
II the bondholers direct by vote at this mecung the
trustees shall take immediate Possession Of the road, rod
ing stock and whatever covered by the mortgage and
either work themselves or, Sc 50 instructed By the
boudholdcrs with tho directors oc the company
or others Il, dlstrb ang the proceeds, after
running expenses and necessary repairs, to the parties IN
teresied according TO their legal rights While thus 10
possession trustees may do all which the directors
could do under the charter and report annually TO
convened stockholders and a, any time the rcqui
sion Of onenilh OF The bondholders The boudhodcrs
may their compensation Such possession may continue
until oil dshcnored bonds and coapous secured by The
mortgage paid, when il shall be the duty Of the trus
tees TO surrender the road and property to the parties
legally entitled 70 tho samo.
IN relation 10 the last report Of the New Jersey Railroad
Company. the Newark AdrcrtisT says
inc New Jersey Railroad has been Of the most
ces.fdl works OF the kind in tho ntcd States and at the
present raging regular dividends OF ten per cent
rer Yet the report shows that those who have
continued stockholders from tho first organization Of the
company have thus far received only very moderate
upon their Investment The sany has been
is,ence twenty Eve years For the arst three years
dividends whatever paid for eight years only
thru per cent and from ,hst time they have
gradually advanced until the standard Of ten per