The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-09-06

RAILROAD
closed up strong with improved demand on the part
of investors class securities Early In the
they were somewhat depressed by tho California news
during which the opportunity was used TO buy Tho
advance during the week from y to per cent,
Pacincs and the Chicago and Northwest gold bonds
being prominent In the dealings.
STATE noSDs
In State bonds most activity has been In virglnias
which decidedly srong-the consol bonds selling up
to 81 ex maturcd coupon II reported that they have
been bought to some extent for foreign account Ten
nessce bonds have active In transactions at
the board and the old issue quoted at 81 bid and
81 asked, and the at 80 a 81 Al Nashville many
of the best informed think that the January
est will not be paid but that the coupons due last July
may possibly then be paid Interest South Carolina
funded bonds not now paid, for lack OF money. We
take the following from the circular Of Messrs Forster
Ludlow & Co., September L.
The very small volume of business do ne in Texas Sc
curities during the month of August has explanation
partly in the want Of confidence among capitalists and
Investors generally, their absence from New York dur
ing the heated term and the large offerings Of Texas
securities thrown the market for the purposes
of realization AT the beginning of the month some
few transactions made in pension bonds nj par
but the market did not sustain itself IL became dun
and eless, and prices rcceded To % cents which
figure more or less large lots OF pension bonds have
changed hands and which Is now the market price for
this bond What we have said OF pension bonds Is also
market ut 100 bid and 1903 asked Texas 10 per cents
1876 reached l04 The hall yearly interest ON those
bonds Is due September l. 1875. Texas ! per cents
gold remain stationary at par and interest asked with
small sales at yS and 90. Texas per cents OF 1877
in better demand at full quotations There are
few that class OF bonds offered here the issue being
but 1926, 600 Texas per 1892 are held nrm
So cents with bids OF So
AMERICAN RAILROAD CREDIT ABROAD
The United States Consul at Rotterdam (Netheriandsl
says in his Official report to the Department OF
Concerning the transactions In United States railroad
shares, which, before the catastrophe VA the United
States have been important element in the Dutch
money markets have but To repeat the statement Of
my preceding annual report. Far from showing any
sign of returning confidence Ia United states railroad
shares, the Dutch public rather manifcss increasing
The sale OF United States railroad securities
even at the lowest rates, limited to the smallest mini
num- The laws recently enacted IN Wisconsin concern.
ing railroads have just affected those securities IN which
the Dutch capitalists had invested enormous sums
namely the Chicago and Northwestern and the Mi.
waukcc and ST. Paul railroads. As yet the holders OF
these bonds still believe that the hopes created and
realized and that those laws win be annuod y the su
preme Court Should this be the case "A new dcpre.
claton OF these securities well ~ OF all other Acr
railroad bonds may be expected For wears 10
railroad enterprises will be made Fnanciers who In
this country, have been dealing ia United states railroad
securities agree in declaring that revival u confidence
IN American railroad enterprises only be expected
when radical change Of the present legislation GA rail-
road companies takes place IN the different states As
the best means of restoring confidence they Indicate
strict control Of the creation and payment the CAPT.
tai Of companies; the obligatory, regular tlt least
monthly publication OF the receipts expenditures
OF the railroads; the limitation the arbitrary mower
OF the presidents of the companies and greater nu.
ence the part OF holders OF really paid bonds simi.
lar statements come from other countries.