The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-08-14
IIAlVCiAL AND CONNER ClAL.


2Ou8H u 2kD ~
THURSDAY. August lS-eP n
xhsrs wSs rather blue stock market Throughout The
IRA board Nearly every stock the list cold q lower
prices In some Of Vie leading .cy railroad s,seks ths
saIes 0 casb ssook were very large II the decline Cisve
Iaad and Toledo fe or pr cent; New YORK Central Il
Es ri Reading, x; Michigan Southern, old deferred, NJ
Do new prsfssred. Il Panama, III Gsiena and Chicago
u; Chicago and Rock Island, u; Mlwsus and hissi,sp
p, Is. Ia Crosse and Milwaukee sdvaroed 4 per cent.
Tsre ssles Of Milwaukee and Mississippi ct 81 seller
% days end 30 per cent cash This company floating
de0t Of $500 300 and further expenditure on the old
new Pcads Of 81 300 VIII Be required pat the Old limo
In order ard complete the Southern branch. s est
mated that will require 81 900 10 anish The Southern
branch 3l7oc Geo 10 ballast end eoce he old line; $4,000
for bridges the old line, and $1,000 for whaxvss
Prairie da Chien. There already four mortgages on
tho road, and a. the company have go& TO provide
in some way for the present floating debt and raise
the means 70 meet new expenditures, u y pro-
posed 70 mako . preferred stock for the total
amount required and sue 70 he old ockhoda, u 70
Is per oeni This II the age or prsSeed stock, and
have no doubt many Of the cid, we'll - the new COM
paniss will resort 70 such alternative for Temporary
relief from their financial embarrassment The Miiwsu
kie and Minssipp railroad peculiarly soo,ed. In
geographical point Of thai other lines must cut oil
70 pieces The Madison and watertswu road, when
pleled will desroy the eastern DIVISION and the compile
ton Of the La Crosse and Milwaukee win draw away the
whole Of the through business and In 30 doing destroy the
western division. The management of tho Mwaske and
Nssissipp not 70 blame for this. They have done
everything 10 prevent such result but 1t WAS beyond
their power. ne construction OF now lines the sole
cause and the effect Ia unavoidable. Competition con-
nnualy sprngng up, and al railroads are more or less
subject to It. Michigan Southern, common deferred opened
this ovning at ~ and closed heavy ct AZ per cent with
GALES the meantime a 46 per cent seller 10 days The
bob this stock fairly broke One Of the clique has sod
out and ie his colleagues to take Of the market Tho
management Of this company manufacture stock 20 easily
and quietly that outside stockholders continually In
danger from the wsterns process Three, four and i've
thousand shares Of stock be turned out any day
The recently pursued by the Uned States Trust Com
pany shows just how much value attached 70 the regs
aton Of the stock It railroad companies When Of
the Michigan Southern stosk OF the issue
presented for registry the President Of The fruit Company
Mr.. Lawrence, refused 70 register Il, end w only upon
the advice OF their counsel Daniel Lord, Esq that
permitted 70 paa through the books. Holders Of this
stock hypothecaop judge httle from This Ao how
slight security They have for their money, and what
escape hey had In this instance Had the rrut Company
thrown cut the stock would have been worthless The
floating debl Of the Michigan Southern Railroad Company
10 large, no of0ok Oh poor,
Il only saved from protest BY the continue
issue Of stock. The management Of this
ooncern have 10 resort 10 oil sortsxsf maneuvering
10 keep IL head above wster, and the probs
bly II that win, In spite or every effort, finally sink
Before such cslrophs occurs may oek for further
issues Of stock, and In hyposheoon n very low prices
Tho ugIsp OF the oovnerng combinations for The inhs
ton OF Tie old desgrcd stock have about played
1hsr lat trick mo anAir hAs been . failure from the
sa and the Losses viii without doubt b found, when
tho grand collapse takes paOe, somewhere In construction
account We understand thas balance shee& drawn Of
by retiring executive ooer or the Michigan Southern
Railroad COMPANY for the Of sove director shows
deficiency the lst Of July 1857, Of $1,000 In the
required simply for NE payment Of Interest 70 that
date hi, does nos look much like dividend on the pro
ferred stock, 70 say nothing about the old deferred
Aer the Adjournment Of the board the following saes
Of stocks and bonds made u auction BY Albert H.
Nloolay:-
am Dsxvrh a nIvwnnkts 1sfp ,o~f trf s6S