The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1867-03-14

The cable reports that the banks OF Amsterdam and
Berlin have reduced their OF discount to three per
cent
Mining shares were genera ly lower than on yesterday
but portion OF the list including Corydon and Alameda
Silver, was firm. At the first board Consolidated Greg
DRY Gold sold at Sill rs, Corydon 50 So Smith
Parmciec 50 10, Quartz Hill a TO- Columbian Gold and
Silver 50 So Al the second board Quartz Hill closed
15c. lower than at the first board seingat So o. smith
Parmelee was SC. higher, selling at So Is; Consoli
dated Gregory Gold l0c, selling at 81 S. Alameda
Silver sold at 50 90 Is. 81
In the State Assembly yesterday q resolution was
offered relative TO the affairs of the Pacific Mail Steam
ship Company, representing that It has been charged
that the Board Of Directors falsely stated its bust
ness to be on the decline; Its surplus smaller than IL
really is and Its prospects very gloomy for the purpose
OF deprecang the market value OF the stock order
that they may be enabled to purchase the below Its
actual value. 1t is complained that feeling Of nsecu.
ry among the shareholders has thus been created many
Of whom have been forced to sell their stock heavy
sacrifice and committee Of FIVE to be appointed by the
Speaker is asked for TO examine into and report upon
the actual condition OF the affairs Of the company. The
resolution went for a day under the rule.
The course OF the Pacific Mall Company In declaring
extra scrip dividend of 33k per cent about three
months ago Is unfavoraby regarded, In view Of the
regular quarterly dividend having since been reduced
from Ve 10 per CENT, ana stock
is clearly calculated 10 greatly deprecate its market
value Pacific Mail was selling at about $40 when the
last extra dividend declared and is 123 show.
ing Decline dividends or Of III per cent. The issue
Of stock in this is generally for the benefit
Of few large shareholders among tho Board of Di.
rectcrs who manage to sell out before the de.
elmo comes, while the mass Of shareholders
among the public LEFT TO suffer the depreciation
which later overtakes tho stock The ability
OF a company 10 pay dividends s dmin shed in pro-
portion 70 the increase Of It's capital stock and the
oagencss which Il generally shown TO keep up the usual
dividend too often overrides all considerations OF sound
policy and In tho case OF steamship and railway CON-
panos of regard for the safety Of their passengers
Owing TO the corruption and stockobbng which underc
the management OF nearly all ways they are in
most instances poor dividend paying propertes but n
they we're managed as railways are In France under
government inspection the contrary would be the case
and non-dividend paying stocks would DO rare cxccp-
lions TO tho rule. Some OF the continental lines in
Europe pay dividends high fifty per cent but tho
and economy in railway management which are there
observed nowhere known in the United States Tho
proposition OF the Hudson River Company TO double liz
capital stock 10 order to construct improvements s an
example Of Of the features Of railway msman.
agcnenL II the trac Of the road IL heavy enough TO
mako double track and additional freight and station
houses necessary the cost should be betrayed from
sinking fund established for purpose To double the
capital stock to reduce Its dividend paying power one
hail. and ultimately 70 greatly damage the interests Of
the stockholders
The earnings Of the Eric Railway for February were
so7oso against $ss7 eSb Tor the corresponding month
last ycu, showing decrease Of s7o2 100
The foiowing exhibit OF tho amount and description
q funds received into the state Treasury between Feb