The New York herald., 1874-12-30
WALL STREET NOTES.

THE REPORT IN LAKE SHORE
meeting OF that company was held yesterday
morning. at which dividend az per cent. pay
able on the lst OF February, was declared out OF
the proceeds OF the six months business ending
December 81. The exhibit upon which the dividend
has been declared Is as ioll0ws:-
Business o. the six this ending with December 81,
1874 december partly estmated):-
Operating expease and taxes Ss7s sss
Interest on funded debt dividends on guaran
teed stock, eases OF roads. LtS6,S6
Leases ...... 81, ,6la sss
capital stock lsn ss
Balance. ....... s27.2
The annual report tor 1874, with full details Of the
blsne OF the year WI DC issued as soon after the Isl
The street with reason regards this running
down the cash balance on hand TO run great
railroad to less than $4,000 as serious risk
hence decline In the stock to-day even upon this
declaration. Besides the admission that the stock
Is no longer (naving skipped dividend for elgh-
teen months) an eight per cent dividend paying
stock, which is regretful admission, inasmuch
as 1t Is typical OF greater falling or elsewhere,
there Is
THE DANGER
that any serious accident such as the destruction
OF q bridge, might render that $1,000 balance
wholly inadequate to the requirements Of the
company. or course, the floating debt OF last
year which was nearly $6,o0O,ooo and is now
mainly converted into a bonded debr-navlng
been paid OF, the company has now fresh credit
for contingencies bus even while that credit
may be good. IL is not encouraging to study this
exhibit OF the foremost connection OF the greatest
trunk line OF the continent and then reject upon
the value OF our railway property. The moral Of
this Is very simple one. Lake Snore could have
dends upon legitimate actual stock, out IN under
taking TO water the stock you strain the road road
1t may be sustained for short time, finally gives
way, and the eight per cent stock OF road having
$35, ,0OO 900 OF stock upon which to pay dividends
must reduce It's average when called upon TO pay
dividends on $50,00O,0O0. This is precisely the re-
duction w wnicn ,ne Commodore ,s amer naving
sagacty. bravey admits. II viii be observed that
he reaches this conclusion with the noatlng debt
OF Lake Shore wiped out, consequently he is
IN POSITION TO MEET POSSIBILITIES
OF danger with o full credit This Is perhaps the
best that can be SAID about Lake Shore at the
present time or until that report promised alter
January next 'as soon as IT can be prepared' Is
given to the public. 1t Is to be sincerely hoped
tnat this preparation will not extend into May
next, when another annual election takes place.
The Commodore, OF all other railway magnates,
should know that the shortest road to public con-
fdence Is perfect freedom in his statements.
THE GOLD MARKET
shows remarkable sluggishness in view OF the
alleged gunpowder lacts which underlle the cur
rent situation. and TO which Mr.. Cox has already
made his entT6e as sort OF Guy FawKes. II this
glowing sunset can only succeed in sending some
Vi lis penetrating beams into the bank vaults OF
the country, ano even into the Treasury, 1t may
help us, perhaps to determine the exact quality
OF the precious metal there deposited. II 1t wOuid
only help US to the quantity we would be thankful.
There are grave thoughts affecting men In Vail
vague vague and nd Wholly unexpected resolution has
s1is'AD sure @ state the shape they '' take,
as we have the visible supply OF gram at all the
ports OF this country, ah0at and in warehouse
before we begin to attempt legislation upon the
subject Of specie resumption, an answer both from
bank and government ofacers 20 the inquiry.
at the present tlme including all gold certificates
gold .checks-everything. In lact, represen ting
luton 70 Oe snelyea In sne Banking
VIII insist on its consideration before tle new
Finance bill providing for resumption may be
know what is the starting point for the new de-
parture. These are the sentiments OF the street.
THE SPECIE SHIPMENT
tomorrow will be nearly $l-O00,000 1t is absurd
the shrewd observers claim to suppose that we can
sustain such constant drain and preserve the
ostensbie starus reflected IN the Gold Room. There
is certainly great uneaslnsss expressed on this
subject and much relief Is looked for from the
action OF Mr.. Cox's resolution. The total pay
ments by the Treasury on account OF January In
terest, thus far, are $5,o44, 200.
NEW TRUNK LINE TO THE WEST.
The Carolina Central Railway Company has Jus,
completed Its ROAD a distance OF 242 miles from
Wilmington to Shelby, connecting at Charlotte
with the leading Southern roads. connection
Carolina road, q sale OF which has been decreed
under the nrst mortgage. 1t Is stated that imme
diatey yhereupon 1t will be extended to the Ten
nessee line connecting with the Western and
Northwestern road. When these two missing
links are added the Carolina Central and tine
Western North Carolina will form the shortest line
to the Atlantic for large part Of the south ano
West. The Carolina Central Is almost entirely
owned IN New York and Is said to be the only un
finished road In the United states upon which
work was never stopped IN spite Of the panic Itf
completion how will help to make wilmington one
OF the leading cotton ports OF the country and q:
that city Is nearer to CINCINNATI and Louisville
than any other Atlantic port II must in time get
large share OF the Western trade.