The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-03-04

.el7 ,el2, ESD 81 10, az. 22a oe rs. hon

OF 81 ,S84s727 81 IN 1907 from those Of 1856, and
tween the years 1855 and 1858 b - ,o2l ,2l0 So.
figures show per centage Of decrease, which expI
some measure the cause OF the low price Of railway
but In every well managed road the expenses have
cases been reduced In corresponding ratio, 20
actual value Of Western railway stocks should not
mated by the falling on In their receipts during q
year. With fair crops and ordinary prosperity We
70 record very considerable increase IN the tranc
railways 1t the close Of The year 1869.
The following il the plan on which the Chicago,
aud Fond du Lao Road is, IL possible, 70 DO reorgan
1. UndAr new per cent nrst mortgage, covert
entire road completed, amounting 70 $4,600,o0O,
for
First mortgage bonds now out, and coupons %
New money to be paid in by subscription.
Depot mortgage aud other membranes. ......
TOTAL. ............ ......s..... -,
2. Under new second mortgage, at per cen,
And Tor The balance Of the land grant bonds and col
convey to them the $4,000 acres Of land TO Will
road is entitled.
above the mortgages and 10 the stock 60 per cent
same.
The FIRST mortgage and land grant bondholders I
scribe 10 per cent on their respective amounts ia ca
completion OF the road, taking therefor first mort
per cent bonds, before specified, Ut par the said
To be further secured by sinking fund, which Ia n
first claim on the income Of the road, next 70 inter-
the first mortgage.
WV" :. ~. ~ Ia 49, ."''' 70
pen with winch our readers nave long peen familiar
Il IL well known that millions of dollars have be
vested by citizens Of the New England States in the
of Western railroads which have stopped paying thu
tercst In some Of these cases the roads are not al
sent, even with the most honest aud economical
ment, earning enough their running expenses
the interest on their bonds. But there very Il
them which could not pay one half OF their interest
worst of times II thor managers were disposed to oh
good faith towards those whose money they have DO
ed and expended for their own benefit. But Their
several railroad companies that are avowedly reaeiv
net income amply sufficient to pay the Interest on
bonds, and yet impudenty ana dlshonestly within
uDder various false and fraudulent pretences
The Terre Haute, Alton and st Louis X ,ilroad Con
Is one OF the concerns wnich are practising this
game With their bondnoldcrs. ms road runs from
Haute-the terminus Of ING ierre hAute and Rich
Railroad III lndana-througno one OF inc richest parts
nos TO 81 louis and has one OF the best routes at the
both ior local AUG thIousn ousness, IN iregnt as v
passengers. lts ponos were arge'y SOFA al The
and recommended as Ienaple anu nrst class inves
by men VINO were consaered woIsny .! srass us orr
nave just ssueu IePo,, u, WHICH tney s'atc the
earnings oi ING Ioau ilon. nv ass VI oo!
1, lopo, W nav poeL A1cy a,sv s'a ~
gtOs earnings HUI. July =, aooo, ~ ",na !, 20
S42oooo, .neir ru Dbl SApenses az SISo ,OSi, ana
net Iecep's slzs,oSo. Lne interest," ior SIX mont
tnes w =, ~nu 1eoou 'o' nn FORM
,,o,i ~ Ta,S c,r,v ;s,or.., vs lucy
Only pau hc nan yuny iselvs' on noo t doa
.ro.'r~e~ ~~.~, - 80
tney nave mace deiaut ana refuse 70 pay tne inter-
tneir SECOND mortgage oohas, amounting 70 s2,oo'
ana tney make ths ueiauit Ia tne lace OF iheir own
menu, snvwins ~h. sue fo. leoc "a sne Ioau ,or 70
SIX montns mas peen sunlceut " pay Tue na'f year
tertst on potn THESE classes OF oonus ana eave
$sZ,0Oo aiter paying ". year ago tney claimed
tension or delay OF one year on 'her second mortgage
pons, put pfomlseo 70 resume pay ment whnout \
the end Of the year The time liked has expired, ant
are as lar from pay ment as ever. rms brings US
other point IN tnls matter Oh iaiiroal swmaing OF
aiaton now pracused 30 largely a. 'ne Mes.. ing
noders III cases IKE thls owe ueir losses manly 70
own want OF energy ana want OF proper concert
uon ins roao ID nov ~ sie naaus !" scs u me-
now nave 10 oMneisnlp VI ~, anu w nse.est IN y
escI ueyonu uato' R,unuerins Wy ~ anu
taeu Own pocNess. iney pretena .na. .ne ln,eres,
should have peen psid 70 the second mortgage nonan
nas ocen eApenoeu On 'Cons'ruct,on account,-,n
gohs.l.ea inv pam EDGnsh, on ,arge sa.a,les pa