New-York daily tribune., 1849-10-26
,ou of long road doing bu, a comparatively small

,,ou Of long road doing but comparatively small
AMOUNT OF service.
The CoWnrciaIs coTrespondent concludes by object
Ing to the psymen; Of sny dividend The old stock
ssul the debt Of the Company is paid oa. He .sys
They (be subscriber, 10 The preferred stock were 10
Ssoed 10 subscribe under the represeusuOn that The
amount would pay al the exisng lahtfs u the Com
esry asd complete the rosd 10 Dover Plains So FER ts-
ls been from he fac nst The deNs Of The Company no"
are ser recyiung he proceeds Of the preferred stock
SFosl s. SIS - 50. s-e rspoftl !. u not fnsncsy
srotef Tho debt should he rxngnlshet fcu nc esr
rgs ON Road, before he question Ofpsyify spy els
dead 81 The Oh stock is even ss1ised lmay have n
Unavoidable 10 contract The deD but The s-enny oi Ne
preferred stocthOcers shoud not be impaired in ne
slightest degree BY spproprsurg any --fpu- r-fi
which rty accrue 10 sly o.her oh-c ban 10
n~ut iis no the qlesto o. ~helser IL pfriofo1
holders safe Tot. o. ttis ~ Gl-t- s
ogl What their Tig,ts aad The p'oPrey eo9 ONO q
oc ne pa o. sbe COMPANY 10 naEs their s-cDy - per
'rct As "a ~ss by he or ginAl corif.cA
Nov We have shown that u Wa not represented
iost the preferred stock would comp. .ets the Road
- Dover F.sins, but that bonds ~ the smouot o.
si3J coo would SUI te Issued. The rem 4Lcer Of the
coo; mad. Up Of over cos Of the Dover Exteuson
before .sowo for which toe estimates snd contracts
~ere made oy the previous sonins;rstlon. The
agreement with tho subscribers 10 the preferred stock
10 regard 10 the receps Of ,be work we're 80 follows
The earnings were appropriated,
lat To tho payment OF current charges.
%. To the payment Oi interest," Cn Outstanding debs
81 To te payment Of O. s9euos 90 the preferred ttocs
To payment Of dividends od siocs uItii such
dividends reach 81 per share per Gnnrum.
Here Is expres. provision for dividend Oh
the old stock and for tbe payment Of Interest, not
pvsopa1 Of ,no out.tsDdirs debls 10 The yory prop
o.tion under which the subscriptions wers made
j, was perfectly well understood BY she sabscnlb-rs
that Tiers would be debt; and that the old stock
70 be entitled 20 dividend sftsr hs preferred stock
and therefore We canno, any breach Of implied or
IN a civiteUts q
toe old stock .houli the expectations Of the result Of
The years business be realized. We doubt Indeed.
sny Of the preferred stock straw whether
such dividend DO made or not.
Another view Of this question is this Inc holders
Of very largo portion Of toe old stock opposed from
the Inception the Dover Extension project and when
drawing up the preferred stock plan omitted entirely
spy appropriation for that scheme They looked upon
any extension TO stop short Of Chatham as foolish aud
impoh,ic But they we're overraied. snd ii no. seems
hsrdly lust 20 them b withhold Whist small dividend
rnsy be earned their stock to pay the principal oi
the Dover ExloUson debt, the creating Of which
they .troDuously resisted.
SALES or REAL ESTATE.
Bud Bi,ccs0 -BEooKLYS.-l loi on south SIDE Atsn
bewesn Fifhsvenue and fe@:a:'t - 90
side Pacific 1t Sl15-s3575, do do $50 DO south
side do corner, sssoi DO 90 edJonins s9e-sosV
do. Ss2O-s4O; DO do s3l5, 90 DO ss5O-sl75oi ,
do DO Ss5l 5O-sl OS7 50 do DO sijo DO we'i side
Pess.sst $685. do corner Of Dean and Pearsall sis
$40 10 DO Desn-si north side. sil0-SSl y; 90 cor
nef ;550 do. F.atbush avenue S<lV-t4Oi 90 az
iolnng sl05-s4lO, DO Flsib1shturnpk-, $500 do
$40; gore do do $40; lot or Desn.si norm SIDE,
$40; do DO sjl0-Sg2O do do Sl55-s5lO, 2 do DO
sxs5- $50 co. DO Sly5-S5s0 90. corner do $50
DO Bergen.st norh-.ide s525 do do. slS0-s+6O
do. do $50 do. do sla5-tsO; do. do slsO-s ~
DO do $500 do. corner Dean ana Pearssl cts sSo5
90 do sS6O-s54O, do do. 5000. do Pesrsaii-st
sssl side, $l60-$l 90; do. do s5l0i DO Dean'st
south eide $500 g. 100 do do $3.50; do Bergen a.
north side 500 10 DO. DO ss5 s24o5; DO Pesrssl-st
east side, sl75i 60 do. &2l0 90 40 $l9-s5so ! 90
DO 90 Sl55-S24sO; do. do. tl35: do do. s35-tA0
do do slS5-t5lo; co. Csrltou-syeuoe, 4l53-s s56;
90 90 sI75; 90 corner do. 500, ~ do Wyckof-si
sl5o-s3Oco do. do. tls5i do corner, $50; do
fls,bush avenue, sl7o-sjlo; DO. Ffh-svenue, east
side 1896. do do SJb,-sZ 1885, do. Bergenst $40;
/ do DesnsL south side. SS07 50 ; DO do 500. DO
do 500; do. do. Sl75-$S25 do. do s52o 500 I
do do 500.