The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1860-08-02
Nei earnings sS4s $50 zoe s5s 1852 or % &c
The report says

lie report s1ys:-
ne pet earnings or the tx months are thus shown 70
b. s343is0 o. After dedrctng the balance OF the int
rest account nciGdre she interest accrued on the bond
ell debt but not yet ray hic there remains dividend
fund s.l9o.S Oh equal 10 per cent the Increased
stock out OF these earnings the Board declared and have
su paid dividend Of per for the six months
enoing Jude 20. Tue div dends will hereafter be made
quarterly on or about the 18th day Of October January
AW and July since the annual report of January the
bonded debt has been reduced TO $500 coo by the direct
conversion into stock Of that amount OF second mortgage
bonds, under the privilege which expired June 30 All
other debts s5 600 outside the first and second mort
gage bonds s0d The ordinary accounts current
guhed by sfTangem, with the holders OF second
tlor gage bonds wbo, otherwise would have been pre-.
tcnied or conversion, by which such bonds wcr, ex.
changed for these debts tho latter were presented
Tor stpk and eAngused " place OF the former the IN.
tert being 80 adjusted az 10 make tue result the com
pany " every respect precisely the same Ia this way
larger bonded debt was et existence but all other ia
6ies were extiIsuishod, and any necessity ior frr.
Their ssue % stock obsated. By these operations aud
BY ,hc receipt Of SIS 900 W the stock the capital
stock as been increased II 1851 900 Inc -ht hz been
REDUCED VI 10 900, and viii Dc further Diminished $780,
oto on The Let Of August by paying that amount OF rsi
mortgage botds, leaving the debt 81 100000.
The following is, we understand reliable &C.
count Of the late Railroad Convention AZ Saratoga
The Saratoga Railroad Convention closed It's session on
TUESDAY Afternoon, ard without doubt the i'm
porian, railway congress ever held uron this continent,
It's action being perfectly In mouiOrs the smallest
tai the debates throughout the proirsced scs
sion interrupted even by unpleasant word The con
vonion was couroscd OF Mr. Thompson Of the peursvi
ysna Central, who acted ss President; Mr. shautsv
general manager 81 The Grand Trunk Of Canada: Mr. yb
bard. of the New York Central Mr. Marsh Of the Erie,
and Mr. Carrot OF the Baltimore end Ohio There was
also large attendance Ct railway mem but the I'VE
gonileuen usmcd were alone in session ard laid down
the laws Tor railway Management in future perna.
ncui $3.50 alton has beeu Termed, Of which Nr 1homp
VIII be the executive for the next tire, months ard
be succeeded IN turn by bis four associates stated
meetings are 10 be held. and hereafter rates made
by the association can be changed without unanimous
consent Hereafter, 20 commO points beyond each
others lines iar,s and IRE ghts 20 be on0rm-thus
leaving % each rad ts natural business while along
their own lines each company viii manage W interests
demand The various tran portaton and express comma
aud rates VII not IN future be "cut under the cloak q
al press contract To-day the be advanced
10 te prizes ~ AIf last, and another advance will be
made towards the middle ~ the month, 30 be f,osed
BY such future advances and changes the interest OF
proper Cattle hereafter 10 be carried by weight
and not per car-a very iust change 10 Rh parties
snd excursion trains very long routes at reduced
eost ahanconcd No drawback. commissions or abate.
ment 81 any Kind "a be made by either COMPANY and
AZ an sMg DAY vEo,e army q expensive agcnts. who
have Gttcne upon The roeds, Ia 20 be dispensed with
The Eve members Of the Convention represented m one
quarter Of the entire railway capital Of the United siaies
that rrscte BY she scven Members fofmpg the "Aso
ciated Press OF New iYofkr-"far pay for services
rendered. aud "no unfair competition"
The New Orleans Picayne Of Saturday re.
ports;--
The exchange market has been languld from the oro.
Ing TO the cosc q the week and operations show con
siderable dm.nuton IN all classes Of bills The supply
Of both foreign and domestic, though nc, heavy was
ample 70 meet all ordinary requirements but tho &c.
mand was 10 lie better than nominal for any description
Rates, however we're generally maintained, except for
francs, which have slightly decued Quotations rule as
srnexed, vn.-Cear sterling bis, 1oea 100 \: BANK
tsies, 10 no.. Bill Of adus drafis, Iosk 100.
Trancs 81 i2S M17s per dollar sixty day bills on
New York, &c, a Ia per cent discount. sight 2, a
y per cent premium. spccie-fhe movement, for the
rasi week has been unusually restricted and change
OF any Kind has traDsped In rates Receipts comprise
only ssp eco from Rayos Santiago and s35 600 from Cal
weston; and shipments we're limited TO slooooo for New
York.
The Boston Post, in its weekly review of r.
nance and Business says
Our money market IL in q rather queer condition.
On the hand the banks losing syecic and ex
charge with New York IL ruling steadily adverse amer
recent loss q million and quarter and after the
sgrrgate hcld.g has declined 10 about eve millions !
No large SUNS arc floating about and the current rs,e
for very prime paper IL fully ger cent In New |
SoIk 10 IeT cent 70 Ibe prevailing rate also lor