The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-08-15

reported thh morning. Ia party alluded 10 have
Zen Arss buyers On sssou,s 4 tAs sonpasys
slgss q psoulassrs, a.d shs rumor 10 thaa
lhsr principals abandoned them vine. The collapse
ean& his y nothing now nor extraordinary In
Wall srsst. TAe parties Tor whom ne bankers Who fsu
"a todsy operated. gladly accepted the profits whiuh
accrued On The recent rse In The Michigan Southern stock
but when NE tables were turned ed the profits appeared
In favor Of the bsazs they ssdOned Is m reported shei,
agenA, end len The oontraCs unredsemsd This ID no.
thing moro len than heads one side wins tails the other
side loses. Cleveland and Toledo viii 20 next. All Idea
o. another dividend has, believe, been abandoned.
me company has floating debt OF between $500 900 and
100000, which IL getting 70 bs very troublesome aud
must b placed moro permanently In some way The
company has never earned the dividends PAID In every
Instance where has been paid more or less Of the to
I'll bad 10 be borrowed. II 10 nov Impossible 10
raise money for suoh purposes, and the Cleveland
ana Toledo Company profess 10 make . vir-
tue Of necessity and pass the dividend 80 - 10
apply the net earnings 70 the floating debt New York
Central opened and closed heavy this morning despe.
rase stempt made time since this sook
but was too big thing for them. Twenty I've millions
Of railroad stock not easily oornersd Cornsrins
bnaions In railroad stocks have had their day the
present We understand that the Erie Company will
oct with s new financial programme 70 morrow, SAtur
day.
At the second board lower prices ruled round There
were large sales particularly OF Michigan Southern
deferred. That stock opened at 81 per cent and
closed heavy at IS per cent The sales up nearly
three thousand shares New York Central fell of per
cent; Cleveland and Toledo, e; Reading, n Gslena and
Chicago, l. Al the close feeling OF srea. dependency
prevailed, and stocks freely offered at quota
tons. After the close OF the board Michigan Southern
sold 81 "a per cent, and was very heavy ct that.
aOty In thar "A n dav,s
respondenoe that has passed the different parties
relative the overissue Of stock by Michigan
Southern Railroad Company, will be that the
Truu Company and the Railroad Company do not agree
their figures The Trust Company's report would have
shown much greater difference had certain parties
doctored before the committee received It, 10 pretty
snar ~ stands and every outside stockhoder In this
railroad company has been the victim Of enormous
irsud would be very pleasant duty for to point
out who the perper ato Of this fraud are, any
ment could be made to give the power of the courts
send for persons and papers.
The Assistant Treasurer reports to-day -
TOTAL receipts =. =. 1874 ,9ss 80
Payments. ....: l2o4e6 e7-sl6oOo California drafts.
Balance. -. 80. IL AIS, 4s2 %
The earnings Railroad for the month of July
The earning. or july 1855, were s7SioS o.
IncreaIe. 81, 2s3 90
The earnings for July, 1855, were 1872 OFT SO.
The following the July receipts Of the Pitsburg,
Fon Wayne and Chicago Railroad Company
Total ::l.ne. Of he line from Pi.sSur1 70 Co.
lumba for the month last ycAr ...... l0l COS 70
:::::: s. s's ending
Net earnings. ACKNOWLEDGEMENTS. $685. ol Is
Being fraction les than seven per cent the cost Of
the road viz capital Stock funded and floating dsbs say
100000 seven per cent the funded debt, and
leaving balance Of $4,000 applicable 70 interess
floating debt and dividend.
The regular monthly meeting Of the Board Of Directors
of The Baltimore and Ohio Railroad Company held
Wednesday. The ofcial report Of the business OF the
road shows the revenue OF the month Of July 70 have
been ~ follows
Nam Stem. Wdsh. Breach Total.