The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-03-28

Reliable securities such the government loan, the
various State stocks, the best kinds OF railway bonds
higher than they last week. The absolute Ger
tanty that money VIII remain easy throughout the sum-
mer and the possibility that by June July it may be
cheaper than has been induce many persons who
have means to invest to buy these securities Even MIS-
sous which have been the subject of much speculation
in the street, X higher than they last week.
The railway list shows very little change.
The bears at the Board continue to sell New York Cen
trail and The Western stocks with much boduess
ever, their chief argument being based the traffic
these roads. The views which frequently set
forth in this urnal previous and at the time of the
crisis OF 1857 now apparently the staple creed OF the
majority of the members of the Board Operators and
their organs, who, during the year 1857 positive
that stocks were going up and that the railroad system
perfect, in the year 1862 just 10 have dis
covered that precisely the contrary the 1t barely
possible that they may prove far wrong then
Then they ignored the mismanagement, the wastcalness
the reckless expenditure the corrupt Dealings the
speculaons, the general administration of the Road
ing Railway enterprises they ignore the economies
and the improved management which the crisis forced
upon all railway companies. There railway com
panes which had become deeply involved before
crisis that subsequent reforms could extrcate them
But there others which though gravey embarrassed
in 1857 not in hopeless condition. the hard expo
rence Of that and the succeeding year may have
PEELED the managers of these enterprises pursue po-
Icy which has repaired the Of the past The pub
lie must bear 10 mind that roads which used pay
and 10 per cent dividends have not divided dollar
for the past eighteen months Some of these con.
Germs have cut down their expenses from IS TO so
per cent of their gross earnings. If the country has
really tie worst Of the hard times-f trade ia
wing and traffic on the point Of returning TO It's old
channest natural that the roads which have pursued
conservative policy for the past eighteen months should
reap benefit during year come II the West
crop should prove fair average it is TO
expect that these regenerated enterprises will again earn
handsome profits. To ignore the economies of the year
1885, ignore the revival of commerce. of which the Gus
tom House returns bear evidence; to conclude blndly
that because the great Western railroads reckessy
administered before the Crisis therefore they still in
rotten and hopeless condition, may be natural in Wall
street specuator, whose maxim to disregard facts and
operate chance but II is what might be expected
from The leaders and guides of the financial world 1t is
always periioGs to predict the future. None can
say what a month may bring forth. But the
official records Of the trade Of the country show
decided revival of business. Importers and jobbers all
agree that they doing good business that they can
afford to cell credit to those sections of country which
will not pay their debts if the crops fail again. Is il pru-
dent under the crcumsances expect that enterprises
which have overcome the death struggles of the crisis
which have lived through the terrible year 1885, paid
their debts to the last dollarare going sink deeper in
public estimation? Is reasonable in view of the cur
rent prices at the took Board which are scarcely MS
rule above those which ruled during the panic of 1857
to expect further depreciation and lower rates
ties which controlled by sagacious and conservative
ipduercesS