New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1859-03-15


~,
Railway stocks continue - o. IeSecssd IT l1Vesi-
.rt ard he BE-. Estle doing in them 81 the stock
E1chsrge. e1cep. among ID, speculs.srs T1o count
ing uuon sr mp-5veme-; Il TIE .rsfc Of ice various
line. az busi1.ss e,ves have bean disposed 20 take
tie Initiative, With tie eXpscsslou ;ast iOJo"eFs VII
rsturay Re str.s,ed and t5s in ;5e outside deInani
ar.ciJ atsd they viii frG ample supp9-- 10 tlis
calculation there probably Two -eI.oca errors; he
first il locking iJr improvement tbs Sp-rg, e. coIo
pared with that Of 1855 sni the fec0nd, II nnder-
estimating tie extent AID depth o. pubic serhmett
agairtt Rslw5y stocks. We aluie more especially
20 Weston KslW5ys prominent .mo5g speculative
shares q. ote Board, which, sitLo1gh proosoiy
tuning the conner q sdye.siiy, have 10 n
msdiL.e prospsC. of lager ard more p'sh;aole
business. Tie sbandsnt crops Of le5'-kep. oscs
by the pan Of that year, csTtribatet 20 give TIE
business q the Sprirg OF 1873 q veiy respectable
shcv, ard i "a ret until the AutsCn La ne fll
force cf tie revision experienced berc5 Te coz
cude Is. tie earnings Of toe presen, S9nHg sfe not
likely 70 present favorable c0Inpsr.soG-but quite
the reye.se-f.r al tas time there ia accumulation
70 be no7ei 10 the sesb0srd Tle second error i 10
placing too light 81 estimate upon the puOhc ycrilg.
~ sii railway stocks which, although Desired 70 os
charged as proper Ie1?rs, sni 50 eco,ou al sri
stragh..oiw Eyd msasgsmert takes toe pace o. al
ex.r.yseaLt ard reckless administration, carno; b.
thoroughly Turned until circumstance, fully esta5-
ist.ng intrinsic value, clear snd conclusive.
Spectators msy work temporary chaages-taEe
advantage Ct bor sales 20 create scarcity OF stock sri
advance market values FOR the momen.-bDt these
movements are hct.0us snd unTe she. O-tsliers,
thoroughly disgustsd and frightened, ere no. 10 b
tempted into nyes; asuts Wliel sui oOs doubtful, end
until there axe the meet substantial eyiiences OF Ie-
turning prosperity tie spectators VII, in 81 probS'
bhty nave the game 20 themselves. Atnor5lsl ear
yess OF the commission business Of the street proves
clearly that 1cn the state Of pubc sentiment in re-
gard to railway stocks, ssd i. Is transparent fact
that movements in them e. the Bosri are, in most
irstarces naugursted ami sustained by mere specu-
lstcrs.
Tie following letter Ia, been received by Msssrs.
Duncsn, Sherman & Co., from tie Governor Of Cali
iJ.Lia:
STATE oT CALIFoKNIA, Executive DEP'T,
SAcRAgESTo Feo. 70, 1889.
"GENrIENES / regret that in the midst Of press
~ public engagements your letter OF the -9h MT. Te-
mains unanswered until the present moment.
"In regard 10 the niebs iness Of the State unpro-
vded for have - ssy that IN my opinion, vote OF
the people VII Ce necessary before bonds can be
issued.
Il ls possible that there are Still gal and equtsbls
demands unuDded, 10 the smoant of cay $50 Co.,
and Il Is understood t1st oil vii be passed at the
the present Re ssior making provision for payment
Il DO not doubt that this will receive the ratfca-
ton Of the people, they have already shown that
the dsgrsce Of Reputation sbal no: attach to them
81 an, very I.speef y, your ob-dsot,
"fSgled) JOHN r WELLER"
Ma YozK AGENCY PITTsEuEGH. FoEr WAYSE)
Asp cRicAGo RAILROAD Co Ne; a. EI,sAngs P4gsee.,
NEW-YORz, Marc a. 1889.
To re Editor # Tie n Y Tr5uaG
SIR: Circular overthe signsture of. Z igsr Thon
SOD esq, President, hss just been Issued relation
70 the present and prospe value OF the stock aud
securities ri the Pittsburgh, Fort Wayne aud Chicago
Railroad Co.
Copies may be bad on application a. the Agency,
No. - E1Chsnge place, VI. h. Jesup n Co. Yours,
very truly, NJ h. JEsrP & %.
Tie cash assets snd liabilities Of tie Nag-Ohaars