The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-07-23
FINANCIAL AND CONNER CiA-.,
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AONMY q A u a nc.

"WEDNESDAY, July 22-6 r. NJ
There was quite buoyani market this morning, with
considerable activity In the leading railroad stocks Al
the arst board New York Central advanced u per o,nt;
Reading, IL; Galeus and Chicago, 1; Michigan souhsrn
preferrt d, v; Panama, Cleveland and Toledo, II MI
vauke and Mssi.sipy q La Crosse and Milwaukee, The
transactions amounted TO thousands OF shares IN the
principal stocks Tho bears eyi cny disposed to let
tho bulls have their way for iow days, aud even
help lhtm get tho market up lite. Tho game u all In
Wall street. there is outside Interest In the movem n,
except realize upon any mpro rement in prices II IS
the most absurd thing n the world TO talk about railroad
stocks going out OF the street, becoming msrc fs'riouet
ard such he organs OF thaee railroad com
parios put forth amoa daily The stock OF zach fancy
railroad the list s daily aceumulaDg In the hands o.
broscrr the ball organs may ray 70 the contrary
ihtlndng Outsiders trust arc -ise enough TO
realize Of these prices The probability Is thai they never
again viii hare q bct.er Opportunity Thgs who haze
been holders for any length OF time nigh prices ami via
have been anxiousy waiting foe chance % get ou whoa
loss may assured that The advance that has been
realized within the past few days csnDo. be ssaaci and
,hose who avail themselves OF this imitation 10 get rid OF
their railroad stock will regret H. The only way Is
10 make clean sweep Of the trash, and pile II NJ 10 the
hands Of The specializing directors OF these concerns who
copegaie about The curbstOne In tho vicinity Of the Stock
Exchange This appeal s directed particularly 70 The
class which 90 grossly imposed upon by the Wall stree,
On sncers Of these bankrupt railroad companies Ia above
every other consideration and should IKE 10 sec the
vhols weight OF the neach OF them rect upon tao
shoulders of hose who have literally pcckeed In the
share OF sros bulk Of the money Invested Wslstrec
,tokobbcrs have bied the rural districts long enough
In psmirg OF upon them railroad sticks al high prices
and the only way left 10 send them back, cell them
The best price they will bring pocket the loss and resolve
never 10 ouch the stuff again In shape, at any price
Having done this let them their attention entirely TO
the particular limo Of industry In whsh they may be en-
sased and ever after leave railroad stocks 10 the spccus
ips directors and The stockholders o. the curbeone and
the Exchange.
! Immense efforts are being made 10 sustain Michigan
southern Railroad stock The rates for money offered to
brokers and bankers arc We havo heard OF
some a. high AZ seven per cent month. Prudent men
decline 10 loan the stock altogether They know thai
the books are liable 70 be closed At any moment Without
notice. In which case there telling when they would
70. their money back. Tho compsny have sun running
about Al 500 900 Of floating debt should they default on
Mis- or any Of their res OF coupons The books
would instantly be closed by injunction rbs probability
or possibility Of The company meeting all he liabilities dur
ns the present year be pretty Clearly seen by the fol-
lowing statement Of groes and not earnings for the year
1850 II will be seen that the actual income last year
| was iess than half the paid in dividcsds,-
Gross earnings for 1859, according 10 the annual re-
|
Total operating expenses. l,'oo,oo
Ac,us, No, revenue ..................... ss,sls
Interest on fieeting debt ...............flt2OO0
| Interest on bonded aebt....."........ 456,O00
/ Contribution 10 mixing fund.......... $4,000 -
| sis,oeC
/
Net income applicable 70 dividend ......... s21osi
The dlvidesd paid last year wa ten per ceat capt
al Of sbout seven millions Of dollars which amounted Il
100000 The dividend fund Amounted 70 s2oceo, show
ins deficiency Of $4,000. That sum par, OF the pre-
cen, Hoslrs debt The great inCre@s in TIE c,al stool