New-York daily tribune., 1844-04-15
Nex.york ana Erie Railroad.

The important question, Shall this road be bulltP
has approached its crisis, and is, from present Ia
dications, to be decided by the people of the City
it is question fraught with the deepest interest
to every Capitalist, Merchant, Mechanic and
business man in the city, and we will not permit
ourselves to doubt tl.at it will be promptly and
nobly met. So well is the matter elucidatcd in
the following official publication that we leave it,
at once, to speak for itself:
Office the New7Gork Am, and = Efis RE RTi All
Common Council having declared Gy ,esouton Is not eN
capital stock OF Newly ork und Enc Railroad Company.
and having declined to unite N ne Application 70 the es'
books Tor private subscription without The important nd
which The co opeatIon OF The cy would have aIs'ae
the amount OF capital redured-ai me principles on "ch
could no, consistently decline to bring forward t question OF
city subscription the same time was et that the Fren,
moi resi- with them even indirectly hr belonged either the
Common Council the Legislature. the people
pie wbop! the suneton Of The Comson Council and he a-
thory ofthe leelauIc That anc,tn having been refused
completion of tie New York and Ere Railroad now depends
entirely the amount that cnn be Obtained By private sub
Beofe determining the conditions which book, Of sub
agan had under consideration The position assumed in their
port that Six Millions OF Dollars essay before the work
After much delberatou the Board continue OF opinion tint
the conditions OF the should require tat e amount
be- subscribed before the resumption OF the work should be
such would place the completion OF the Road beyond ofdna
~ contingencies and they cannot satisfy themselves thn
smaller sum than sx millions w comply with ths condition
The Board have overlooked the important considerations
with the other of the company would b. adequate
bu, those considerations IN their opinion are not sufficient 10
move all reasonable doubt and other bHss would be
the or the Board the responsibilities OF te
Ist.H iSke shem anu ''e "''''' ''' '''' y -''''
In their anxiety to remove ever circumstance which may
have an bic influence subscriptions the Board
have been constrained 10 discriminate between old and
iock that this mny effected without permanent nnry
any 10 the Interests Of old ockhoider hos been done
the stipulated IN the conditions Of subscrptlon.
s ee ct ds na @ eson @ Of E 70 Se e e a , &
already ed consequence o the legal opinion tat ne her
the Board of Directors the Stockholders legally convened
poses the power to make any distinction between stocks ssue
In accordance with these views the following are the cond
tons under which The subscription books are 10 be Opened
I'VE the undersigned, respectively subscribe Tor the number
hundred dollars each set opposite our names nnd hereby
pay dollars each share within twenty days after
the closing of the books and the subsequent iam-nS they
,haII be ISsally called for, provided.
h That bOna tide subscriptions subsequent tn t oi March
Six Millions OF Dollars.
I'd That the nstmens shall not exceed thirty three and
I'd That b The indyi dual act, Of the boles Of at least,
thfeeOur OF the pi stock Issued pnor the lst OF
March lsi shql be legally established that dividends when
s M fiat T the fi e Of ~ aTsns s 9s%s S q e per
ofthe Old stock shall be deferred until dividend of cent
! *.
3D. Tint when the net earning. shall exceed he amount
necessary pay such diy,dead the stock the
shall be appropriated 10 dividends the old stock.
81 That when dividends declared old stock amount
per per the old and stock ,a! be put
par. aat a.! distinctions between them shall thereafter
cease"
The Boad have the satisfaction Of believing that the great
question OF the completion of the y \, md E. X. X.
before the New and OF the Counties Interested
construction freed vi all extraneo conderat ions that
public attention has been fully drawn u the subject ana ue
there prevails throughout the community apprecai.on OF
the Importance OF the rold and confidence m ts icoex
when completed 70 Lake Erie that d! the most encourns
ing character.
The Boad VIII ad0p: ali suitable obtain the very
general action this subject which the large amount To be
renders necessary and trust that their efforts will b. et
ctually seconded by all who with them opinion, that
the completion The New York and Ere Railroad While it
affords ever prospect ,emuneratiI. dividends 10 stOckod
err will be Of great and permanent bSnet 70 the city and
countrv HOR RATIO ALLEN President
JAMES BROWN Vice President.
DIRECTORS.
D. 4 Cu.hman Charles ii. Leupp.
Harvey Weed. Frs's. w Ednclld,
Sins Brown Anson c. Phelps
Theo Iehon Sntthew Morgan
p s;potford. John c, Green.
William Maxwell, A. :. Owen,
Eliajah Rsey. apis 81