Litchfield enquirer., 1874-11-26
Watered Stocks.

much light on the nature of the contest that IS going on between the combined middle state lines of railway from New York to Chicago and the Baltimore and Ohio railroad which affords a shorter though more southern route from Chica. 20 to the eastern seaboard. This latter is road that has not watered it's stock. It pays ten per cent on stock represent ing cash actually paid in. and planted in real improvements. Its stock is worth from no to 13O in the Baltimore market and is seldom quoted in New York lists. Its capital and funded debt does not ex- ceed S37, ,O0O, 900 to-day, while the New York & Erie shows capital and debt of S126, ,000, 900; the Pennsylvania road ,S111, OO0, 900; and the New York Central is pay ing dividends on capital three times as great as that of 1868.
 The mileage of these roads represented above is, indeed, somewhat greater than that of the Baltimore X Ohio. Still it seems probable that the combined roads have a stock and debt amounting to at least double that of the Baltimore Ohio per mlle.
 The completion of the entire line which IS under the control of the Baltimore and Ohio. now affords an opportunity for com petition between genuine stock and con- servative policy, and watered stock and extravagant management. Baltimore is in still easier connection with Cincinnati and St. Louis than Chicago. Ocean steamships have long been established to the former city, "the elevators at western paints are ready to car the grain, and at Baltimore the car loads into the steam ship. Mir Garrett further proposes to have nothing to do with these rings of freight lines, red, white and blue, that suck the profits ont of railroading itself, and he proposes to guarantee delivery oi freight. as per bill of lading."
 The Republican sums up the ease as follows:
 AAkCCPSCSANC OA bACSC u11uOE UOluO6 Ol railroad economy, readers will, we think, recognize in these two policies of railroad ing right way and a wrong way, an hon. est, straightforward business and sinis- ter speculation and overreaching. The contrast of the two is fitting feature of this wonderful season of railroad correc- ton and rebuke. However much or little of the change should be attributed to the grange movement, the vastness of the change in the public sentiment on rail rOada is undeniable. The railroad presi dent can no longer boast of states humili. ated and violated, he is himself the beat en litigant in suit for the control of his ownroad. and the suppliant of the popular power which he had before corrupted and outraged. The austerity of the time pen etrates the corporations themselves, stock holders turn into indignant and angry in. vestigators, and the debauched roads and communities are confronted in business rivalry with those which have husbanded their strength.
 The Mendelssohn Quintet club oi Boston gave a concert at Waterbury, last week. and are to give another on the 7th of December. It is worth long journey to any lover of instrumental music to heal this splendid club.
 The New Haven Palladium describes 6 touching scene that occurred in the su. perior court at that place recently. A young man named Williamson was tried for burglary and the jury found him gull tY. As the foreman uttered the words. the married sister of the accused, who had remained close by her brother ever since the beginning of the trial, ejaculat- ed, ''Oh, my Godr' and swooned. She was carried out into the hall of the build ing where she soon recovered and gave vent to her horror and grief by loud screams that were heard throughout the building.
 It is gratifying to see that the Commis sioner of Internal Revenue recommend the abolition of the stamp taxes on check matches &c., substitutingan increase O ten cents per gallon on spirits. The re quirement of 0 check stamp is a continu ing annoyance, and we are glad to see it abolition proposed. On manufactures, too they cost the consumed an amount vastl, out of proportion to the sum realized iron them by the government
 Western Railroads seem 10 be doip. fairly in spite of hard times. A compara tive statement of the gross earnings O. sixteen leading railways in Illinois, Michi gan, Iowa, Ohio and Texas for the montl of October shows slight increase il gross earnings over the month of Octobe 1873.
 In the Hilton Beecher matter, the Stl of December has been set down for trial but as the decision on the motion for !, bill of particulars was against the defend ant. he has carried i: to the Court of Ap Peals. and there will probably be furthe delay.
 In the prosecution against Dema Barnes for libel in charging crime upo, Mir. Beecher and the late Mrs. Bowen th utter falsity of the story was establishe, by the evidence of Mir. Bowen and hi family, but Barnes was acquitted on tn ground that he did not make the charo maliciously.
 The Berkshire Courier remarks as fol lows regarding the Housatonic milk busj ness:
 The milk producing business in tn towns along the Housatonic valley Ina this year proved improbable. Milk bring only four cents a quart at New York. a wholesale, and after freight and commis sions are deducted the farmers receipt are small More trouble has been experj enced this year with sour milk than eve before. e