New-York daily tribune., 1859-01-14
esv,au ,rpe.s, ,.S. J, Isse.

scrs sre
D., 81. nd pr..r, Bah ds po..tl sSs.e g
Tot, ss:,ttn
Iuf ividusl D,pr.itors........ -
s1.p.n.s Accoun. iisccal, on seek purch.s. ssss
Tetsl - cas- 4S
The Annual Report Of the Boston and Prcv'desce
Rosd for the year ending Nov. 30, 1855, shows gr-s
Far So Iot !.
And the -f "
A ne: esrrtr II
or "a . cent On the 3th OF N,vemoer, lSol, toe
aoair, spd furded debt Of the cor ooSson amoantsi
70 s42sI74s4. TIE outstanding bouds issued in sc-
oorc.,se W n the vote Of the stock holders psys
b,a AZ different rerods between 1859 and 1866. Tue
Comp.py has avsied itself of every opportunity 20
paw any Of 10. bonds. Esms'iIg the dsPos>ele snos
At very reduced rate the result of acothsr years
oteraton il as ctsfu as toe lest, vii be to leave
the corporation free from any debt osyord its means
of immediate payment The road and its eqaipneot
are in state OF repair and efficiency entirely satsac
tory.
The Hanriba ard St. Joseph Railroad is completed
all but ayng thirty y-eight miles OF iron. Tbe whole
vo,k will be coupeted during February or March.
The question Of accumulated back dividends must
soon be su rortsut element of prospective vsue Ia
the preferred stocks of the Michigan southern aod
Harlem X allroads. When these roads are 10 conii'
ton 10 psy the cnrreut dividends upon their stocks
,bi. question must be met In the Michigan Southern
BosId ,ber. IT, We urderstsnd jferer ce OF opinion
as 10 the Iva ,iy of the Company for back divdencs
the otpcre1ts Of such liability taking ground that
each SIX months Of the rslrosd year mu't be taken
sepsraely and that if any particular six mouths shows
no net earnings then the Company is clear OF liability
to the preferred shareholders for that SIX months The
managers of the Harlem Road we believe, generally
copoeoe that the Compsny owes to the preferred
shares the accumulated dividends since the suspension
of dividend psymepts and that when these payments
are resumed som. comprouise of the back dividends
mast be made. The amount of back dividends is 81
q c.ni-resrly as much IS the stock is selling for.
The posss Issued by the Company for subscriptions
to the stock, April 90 lsis contained the following
Stipulation:
"Tbat dividends at the rate Of four dollars y share
eight per cent? able one bali on the 6rst Tuesday
% January, ana one.haf on the hrst iaesday oi
July 10 each year shall be pad to the holders OF THIS
stock on ih. paid In on their share, respect
ively from the date of payment, from the last div-
deId cay, as the case may be-
Another stipulation appropriate the entire recePts
Of the road to the payment of current changes, IN
ere.t en- debt and dividends upon the preferred stock
The Preferred Stock Certificates sassin the same
vIes. They read thus:
This stock is issued as preferred stock by su
tborfy Of act of the Legislature OF the State oil
Neu-YCrk passed Goth March 1913, and is entHted 10
d,r,dendS ot TIE rate Of four dollars o. each saare
payable one-haf &c in pursuance Of the articles VI
subscription, dated 10th April, lSiS."
As the tme cannot be very far distant when the
Harlem Company will be sble to resume divdsods
upon this stock the question Whether there is 32
cent Of accumulated oividerds upon il becomes oae
worthy the consideration Of the stockholders.
The Nisgnra's news according TO the mel sger sketch
by telegraph to the evening papers, is not important
Co,tcn had been dull, but was steadier aherwsd
without any quo.sble decline. Bresdstaffs were
mer. The only item of money news is the quct.tions
for Corsols which given at 96t 1854, dividead
"a decline of from the prices current at the sailing
Of the Africa. The only political matter Of especial
interest mentioned in the dispatches is that which
vsguely iDtimates that France has officially notified
England Of her support il the lstter adopts measures
to countersct President Buchanans policy with regard
10 Cuba, Mexico, &c. Had such official iotinstion
been given, it may reasonably be doubted whether it
roulc have been published to the world in this bonn
bastic way.
The kotional IntRigencer has the following doubt
full paragraph:
"A private letter from Paris states that a French
Company organized at the wish Of the Em ,erOr, are
about 10 purchase thu Collins steamers 10 be placed
with stbers, as q regular lice of packets between
France ard New-York. The French Government
hsve agreed to pay to the Company yearly sun Of
100000 francs for carrying the MALL. Tue sale Of
the Collins steamers will be effected through the per-
sonal agency of Capt. Comstock'