The New York herald., 1862-03-29
vast majority Of the conquered rebels

vass majority OF the conquered IeDeis
win insist on cheating their creditors. The
worst cases of mercantile reputation which
have occurred since the war broke out have been
in Virginia. Pacific Mail and Panama were both
IA n better this morning, the Merrmac scare
having subsided;. the general railway list was
about "a per cent lower. Toledo is being vigor
ously hammered by the bears, who are privately
covering or trying to cover their contracts. After
the board and at the second board the market
was dull. Erie was a lower, and there was
general ndisposition to do business until some
thing further was known of the military opera
tfons which are believed to be in pro-.
egress. At the close the market was dull, the
following being the last uotations:-United
States 6s, registered, 1884, s3 sSs; do. 6's cou-
pom, 1881, 93s4 9Sa4; do SIS, coupon, 1874, 81
: 57l4; Indiana Sc, 7S q 7s Virginia e's, so q 80;
Tennessee 6s, 56s4 q 81; North Carolina 6's, 81
80; Missouri 6's, 5lh 5lA; Pacific Mail, 9734
S711I<; New York Central, s21l s2ss; Erie, 36ss
S6s4; DO preferred, 90 a 601s; Hudson River, S5H
. 35aa4; Harlem, l21H l2ss4; do. preferred, 3OA
81; Reading Az. 4214; Michigan Central, IS "a
S694; Michigan Southern and Northern Indiana,
23< 2314; do. guaranteed, 46 a Al; Panama,
l2l1aa l22; Illinois Central, GA 641S; Galena and
J, Chicago. 6714 ass: Cleveland and Toledo, 451a a
go, Burlington and Quincy, 81 a 6211ll;; Milwaukee
and Prairie du Chen, 25 q &c; Cleveland. Coluln-
bus and Cincinnati, ll214 ll21a; Erie third
mortgage bonds, 9211a o3; Michigan Central ss.
first mortgage, lO3 1887; Illinois Central bonds,
re-, 941I a 94ss44; gold, 1917 1919.
3 An incident occurred two days since which
Affords striking commentary upon the theories
~ the bankers and economists who predicted that
nj mo 10 Ia IL
rise to twenty-five per cent premium, and paper
would be SO abundant and SO worthless that no
one would want to take it. On Tuesday last Mr.
Cisco sold to the banks 5000 600 of seven-thirty
notes, payment to be made in demand notes.
Some Of the banks thought they were doing
smart stroke Of business in exchanging paper
which bore no interest for paper bearing $40
per cent per annum. But when they came to pay
for the seyen-thirties they discovered, to their
amazement and dismay, that al the banks in this
city had not in their vaults or under their control
three millions of demand notes out of the sixty
which are afloat; and some institutions were actu
ally obliged to 60 to Mr.. Cisco and beg him to
accept gold in lieu of the notes which they had
agreed to furnish We believe that lie granted
the favor, and even promised to let the banks
have the gold back in exchange for legal tender
notes, at some future period, if they should de-
sire it.
The Board of Directors of the Cleveland and
Toledo Railroad Company yesterday declared
dividend of three per cent their capital stock.
payable on the old dividend day-25tl of April.
The books will close ON the 18th. Those who are
aware OF the difficulties with which this property
has had to struggle during the past five years, and
Of the unhinching manner in which the company's
credit has been sustained will not be sorry to
It resume the place it has so long held among the
dividend paying railroads. 1t is an essential and |
not the least important link in the great railroad
chain which connects the seaboard with the West,
Under proper management it should now maintain |
the position il has regained. and, after paying
penses and interest, should divide every year five
to six per cent among its stockholders. The Pre-
sident has issued the following statement
CLEVELAND AND ToIxDo RAIIRo.D COMPANY,
4" CLEVELAND, Ohio, March q, 1862 J |
DEAR SrR-Ae sundry statements have been circulated
TO the condition Of the affairs Of this company |
aeem proper 70 state that during the two years ending
its present management, tho aoating debt has boen
reduced from actual earnings, about 5000 900: thc sink
ing fund has been increased 500 900 there cath
hand and duo transportation 1922 0o0 The April
earnings which estimated at hundred thou
sand dollars yet to come into the present fiscal
and will make the current years earning million
dollars. Tho net earnings, after paying the running
psnses, interest tho bonced debt, &C., viii be be-
stock The directors have decided pay three per
dividend tho stockholders the 2jth day Of Arr
Of the earnings hand ut the Office OF Mcssrs
vsrmye Co.. New York. The company, after paying
the dividend, will have more than sufficient amount OF
good assets hand pay the balance OF its floating
debt none Of which has yot matured. The earnings OF
che company have increased during the present year.
ending May lst, as compared with the previous year.
hundred thousand dollars, and would have
uhown much larger increase had the connecting
EAST Of line been able to have taken the freight away
~ delivered to them, which difficulty have
believe will be obviatcd another year. The
pany has not Increased its bonded debt or charged any
thing construction account during tho two years
JOHN GARDINER, President.
The following were the earnings of the Milwau. |
kee and Prairie du Chen Railway for the third |
week Of March,
1862 80 400 81
Ae6l... ..................... 974C 20
From LIST to es. March, 1859, three weeks ocsi %
Against last year. .............. 22,24 ~
Increase, three weeks. ...............$S S. as7 OF
The earnings OF the Buffalo, New York and Erie
Railroad for three weeks in March, were as fol-
Iows:--
March lSo2 800 O@s II
March 1861 Observation-Disclosures. 80 ,532 80
Increase. sl7 sis 90
The state OF the roads in the country and the
want OF storage room in Milwaukee will cause a
further temporary falling of in receipts as COM
pared with last year. The fluctuations in the stock
are IL seems, caused by movements on the part of
the farm mortgage interest, and the proposed re-
peal Of section Of the reorganization law, which,
IL carried, would give the common stock the bene.
Ht Of any surplus after paying dividends first
and second preferred stock, in lieu Of using II to
nn<Sx