The New York herald., 1876-11-27
Jan. !,

RAlLROLD BOMBS
The transactions in this department have been at
tended with than ordinary interest, especially
concerning tho tonds OF Ohio and Mississippi and
Toledo and Wabash In both OF these instances,
prices having reached very low ebb, they reacted
ooc.ient now Influences which have been intro
auced into the situation. OF tho former II Is said that
the road will probably be forcclosed or reorgantzed
under the second mortgage and into the hands OF
the Baltimore and Ohio Company. The first mortgage
bonds alleged to be abundantly secured. Tho ad-
in the OF Toledo and Wabash was due to
the announcement Of tho Stockholders' Committee
that amicabe adjustment or all differences between
the shareholders aui tho holders OF the gold mortgage
bonds had been effected. The sale recently made at
Toledo has been confirmed by mutual consent, and
y corporation Is to be organized IN which the old
stockholders have the privilege Of participating The
net income OF company for tho year ending June
80 1876 $685., ,0j6 In this connection the follow
ing letter from tho President, Mr. j. A. Roosevelt,
will be read with Interest,"
TO TnE EDITOR TmE HxRALD:-
In order that no misapprohons,on may arise in ref
the confirmation oi the saIc Of the Toledo,
Wabash and Western road. would state, for the In
formation of those who have interest IA tho stock
that when the present Board was elected we found
thut sale OF the road had taken place and been con-
nrmed Ohio, and only awaited confirmation lndi
and Illinois, which sac II confirmed in these lat
ter States, would leave tho Stockholders absolutely de-
prived Of all their property. We, therefore. cntored
who obtained Judgment against tho road Tor
81 SOC, 0G0, Tor tho purchase behalf OF the stock
s o. 'ns @ % ,Ts ~ . Smr me
foiows:--rhrec gertcmen named
trustees to buy the road Tor 81 and organize
company giving each stOckhoidcr the right TO
subscribe 10 stock in the newly organized company
within thirty days from this date, upon the surrender
Of his old certificates aud tho pay ment OF $40
share and from November /, said payment to
be made In five instruments within the ycar 1917 or
IN one payment at the option of the stockholder.
"A
tucatc Of iull-paid stock OF the
amount as shc one surrendered Thus VIII
leave the road IN the following condition bonded
debt about s17. 600U0J bank debt about 5000. 900.
with accrued interest for two years Tho banks hive
years, ono fifth each ycar. The gold bond mortgage
will be satisfied. aud all tho lenses aud other obgaons
cancelled. The road and equipments In excellent
order ani the receipts largely increasing In order
that the stockholders may understand tho vnlue Of
lsT Sssd 70, s,y s ses' cc o s
S. 70s OOO ior 1874 s5O47 900; Tor 1875 $4,000 00O
#ls76 $4, 100000. Tho increase last ior
tho following three months has been August,
$780, s25 September SIS, $50; October, $37,344 Any
stock subscribed for by the present holders
will bo allotted to those who do subscribe. taken 0y
80 : '~'O1 j. A. ROOSEVELT, Prcsiden.
sI.ast three months estimated.
with reference the OF tho bond market may
be described as irregular ana dull Many securities,
responsive to the depression which exists, appar
entity selling below their real value but 1t is believed
times shrcwd investors evidently taking advan-
tagc Of this opportunity.
SOUTHERN STATE BONDS.
There little doubt that but for unsettled con-
dition OF political affairs decided Improvement would
have been noted in these spccaltics. Immediately
after the election sharp inquiry was made for South
Carolinas and I.ouisanas and the asking prices
advanced Now, however, prices are variable. South
Caruinas have ialicn or Louisiana consos weaker
virglnias are lower and Tcnncssccs and Alabalnas
steady
MEMORANDA.
introduced by Messrs Barring Co tor e. 500 600 for
the Dominion OF Canada in bonds bearing interest At
tho rate o per cent per annum The price OF issus
Is col per fl00 bond and the instamcns extend until
July next. Tho loan is rcdccmablc In thirty years.
Owing to tho abundance Of money tho applications
were so numerous that the lists were kept open only
one day.
loan Of 81 500 900 six per cent gold bonds redeem
able In 1906 behalf OF the city OF Cincinnati and
the purpose OF completing the Cincinnati Southern
Railway, has also been introduced They are offered
at 96h.
The sale of the Augusta and Port Royal road will
take place December = at Port Royal 5. C., In accord.
ancc with decree Of the Circuit Cour. District OF
south Carolina the suit OF the Union Trust Com
pany OF New York ct al tho Port Royal Railroad
Company. Tho Georgia Railroad ia indorscr
$500, 900 oil the bonds