New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1866-02-05

TOtal........ lZ,td3u5J = u seo,oS"
decrease of az, '55 the equivalent Of the item
Credited 10 surplus.
The figures Of hose tvoroadsarc very suggestive
The Harlem increases It's gross earnings S6l9.%}9tb
OF 80 per cent against hn increase on the Hudson
River of s3?9 $50, Of s per cent.
4 correspondent asks:
What to be done with the Treasury notes that aye
due next April, with INTEREST,"
They will be paid, principal and interest. in cur
rency, by the fiscal agents of the Treasury and bear
no interest after maturity.
| Tie ST. Ions Democrat Of the 29th Of January
says;
Recent action in the Missouri Legislature together
with the statement that the Weston and Atchison and
atcbiSon and St Joseph Railroad Companies have exc
cuted mortgage on their line Of road for 81 200 900
With view az Is supposed, Of selling bonds 10 mat
amount nave directed attention to the management OF
those concerns The disclosures made are no way nat
terDg 70 the railroad companies Ii turns out that
they are companies without railroads ana have placed
a mortgage upon A road which they DO not possess.
Whoever buys their bonds, therefore runs no little risk
The history Of the affair seems 10 be about as follows:
The road from Weston via Atchson and ST. Joseph to
Savannah, some fifty odd miles in length became for
feited 70 the State OF Missouri, on account 81 the non
payment Of interest bonds issued by the State 10 help
build the road year or 80 ago, the Governor conclu-
ded TO take posse sson which proseedlhg Ieu 10 Az ar
4
Osborn Davis Carpenter. Jr., Gen. StrlngieiioW.
james y Barnes ans Others having control O the cn'
ters FOR the Weston and Atchson and Atkinson and ST.
I Joseph Railroad Companies, on condtlon that they
would pay TO the State in cash State bonds on the
LIST of last January the Of $500 0 and al Intervals
thereafter additional auOunsin all nearly Sl,cDOO
| The first OF January came but the $4,000 payment
did not. The Governor. as authorized by law imme-
daely took possession OF tie road and declare for
feed 10 the State and has advertised II for sale on the
2lst OF April. Tie Legislature, taking cOgnizsnce OF
| th taS al
declared her title in the road absolute Meanwhile
Osborn Carpenter Co. haye-but since they lost pos
session of the roadexecuted the mortgage referred TO-
with view il is said Of raising money to redeem the
road before the day OF SALE Whether they can sell the
bonds is one thing and they whether they can
redeem the road il another The Governor and Legs.
laturs both the position that they cannot. Mean
while another difficulty has arisen. The original stock
holders in tie road insist that Osborn Carpenter Co.
are not and never were. the bona fde of the
road and Plae County which one Of the heaviest
subscribers has entered suit TO enion the CONSUMING
ton Of the laid mortgage. and put stop TO Osborn
Carpenter Cos operations.
We understand tEst the falling of III railway
freights has already been sufficient 10 create more
active competition for business 10 and from points
reached by some OF the 'tunk lines and at the same
time to reduce the rates OF freight II is fair "a
calculate therefore that as the pressure Of business
slackens stl greater inducements will be offered
Dy tut uuts VI III WV w. VI A""Ni
prices, and the business OF railways is likely 10 de-
crease not only from its reduced volume, but in con
sequence Of the diminished rate paid for it.
transaction. Thus railways will probably contend
against both declining business and declining rates
during the present year. Materials such as iron
coal &C., which enter largely into railway ex
penses were lower during large part Of 1860 than
AZ the present time and labor cannot be much
lower. although some saving may be made in that
item. The chances are that net earnings will suffer
nearly as much Of a decrease at that which occurs
in the gross business, at least in the same ratio
OF percentage Spectators consider these calcula-
tons made 10 depress the market valne Of railway
shares but they are based npon existing facts, and
upon the idea that trade will follow natural laws.
II was quite satisfactory to them 10 argue that by
the closing of the Mississippi River large amount
of business would be thrown over the lines OF rail-
way connecting the West with tho Atlantic sea-
board, and that these lines were deriving very
profitable business from Government in the trans
portation Of troops, provisions and munitions OF
war; but when these sources Of business are ex.
hausted they are unwilling TO admit the probability
of loss from the diversion or cessation Of that which
had before been positive and admitted gain. Re-
duced 10 common sense, tho problem is this: il
ssilwsys gained busipsn by the clotipg Of the