The New York herald., 1849-11-14
New York and New Haven Railroad
Meeting OF tine sharehoiders-Extra
nary DeyelOpements.

meeting of the shareholders of the New York and
New Haven Railroad met at the large room Oh
the depot in Canal street, to receive reports to be
submitted TO them, and to INQUIRE INTO the ma
uagemept of the affairs of the company The at
tendance was numerous, and many gentlemen were
present from Connecticut-some even from Boston.
There was considerable excitement, as IT was un-
derstood that strange Developments, long expect
ed, would be made at last, and that rich scene
would be TIE consequence. gentleman from
the Ney York Herald attended to report the pro-
ceedipgs and, as it will be on reading what
follows, he was not avery welcome vissr, at least,
as far as some Of the parties were concerned Be-
fore the proceedings commenced, little knots might
be seen earnestly converslpg what was to come
Some looked grave and anxious; others looked
pleasant and mirthful; while few seemed to look
daggers The directors and their immediate friends
occupied the irner port Oh of the room, behind the
able, while the majority OF the shareholders con-
ented themselves with the seats provided for them
outside.
At few minutes past eleven O'CLOCK Mr.. You've
rose and said the time had to call the meeting to
order, and proceed to business. He would therefore,
move that MIR, White, of New Haven, do take the
chair.
nation when the SEcRsTARy objected to 1T as irregular
He oontended that the President in virtue OF his otce
had right to the chair,
The PREsIprsT (Nr Schuyler) said it always the
PRACTICE for the President to preside at those meetings
He not particularly anxious to take the chair but
he would do his duty, and mainrrin the position he
believed to be his right unless voted cut OF IL By the
meeting
Mr. Yo said 1t not the practice of Presidents
at meetings Of shareholders to take the chair he
surprised that it ever permitted in this CON-
papy. lt was stockholder who was not director,
that ought to be appointed and he hoped the directors
would not stand in the way OF such appointment. The
shareholders want to institute examination into the
policy of the directors and President, aud i
right that should occupy that chair who so
directly and personally Interested in the result.
Mr.. HooKER said it was adjourned meeting, and
the President had the same right to preside now as
then
Parsrprsr-Let the stockholders determine the mat
ter by regular vote.
After some further discussion, Mr. WHITE declined to
be nominated.
NIr. Y.UNc then asked Mr.. Ellis to act. That gentle
man refusing to do so it sugges that Mr. Young
himself the chair. The feeling OF the maj jority
Of the meeting, however was that the President do
take the chair, and he was called thereto.
The President, on taking the chair requested the
Secretary to read the minutes and the minutes having
been read approved the President walked to the
other end Of the where MIR. White sitting,
and asked him to take the chair as he about to
retire short time with which request Mr. White com
Piled and was the chairman Of meeting till its
close though the President returned sto the room in
in putting Mr. White in the chair elected much ap.
plause.
to read report Of the stated the President
not presentthat he would read it his return to
eommiite Of shareholders might be read.
Mn. SHrrAap KNAPP then said he was chairman OF
that committee. Some twenty or more charges had
been preferred against the management OF the
Mn YoUNo.-were they charge, or queriesl
Mn. KHArP-They bore on charges.
MR. YouSe.-l ask for a distinct answer-Were they
charges or queries
will now read the report upon those charges.
sIecxHoLDKH.-I propose that che charges be read
first.
A pause and some hesitation followed this proposal
when somebody sad the charges contained in the
tFnaltf. hal nj hOrn trha
itwas read and the Secretary then read the report
The reporter applied for copy asa & was refused fuse
would be any difficulty in getting it, he took
notes Of it, but from recollection the substance Is as
fcllOws:-fhat the committee had investigated the
that the Committee dad not take them In detail,
lest the proceedings Of the company should be embar
President, other officers, having any personal In
trest peeuniary consideration In view, they all acted
with disihterestedness, and made many personal aud
pecuDiary sacrifices. The whole report Of
qualified eulogy in general terms, without going into
SsASrnolprR-I wish to know If tia. report was
adopted unanimously 2
Mr. RSAaPThere four out Of Eve iu favor Of It,
though only three ultimately signed They all seemed
to agree Oft, with some triaing exceptions.
Ma Rosr,Elr.--I did not intend to make any obser-
vttion the report; but, appealed TO as bare been,
In my capacity OF member OF the committee, cannot
let pass wthoat saying that Mr. knapps assertion is
OF too sweeping character and that he goes too far
think II the report critical and less euo
sistc IL would bs far better Those reports OF sweep
coming very frequent Of late highly objectionable.
willing let this report pass; but there some
itema in IL TO which feel bound to advert aud upon
which a difference Of opinion undoubtedly exists.
There is no necessity for being mesy- mouthsd. The
statement fha make will be business one and u
adopt different style hope shall be called order.
There is teEi that a. first blush seems untmpor
tant but in amount II becomes really great. The
committee consisted Of fve-two, mytclf aud Captain
Spenecr-were opposed 20 that item This railroad has
two frHini laid down In the charterone In New Haven
and the other at williams Bridge westchestsr. These
the between which the travel vas TO b pro-
vdcd for by this company and this length OF road was
contracted for hut Ind was made 10 point OF fact
ntary two miles shorter Instead OF terminating a.
Williams Bridge, IL terminates mile and sixty -three
chains short o; H. The President may be able to ex'
plain this but what have seen aud heard on the sub
set dos nO ss my Sisd IS @,.ier Ss S aos, qS,s
nearly miles shorter than contracted for, aud no
deduction sr bssn msee from from sns S ,"rtx "a sstS
thousand dollars per mile and therefore from eighty
allowed the company for which they have got credit
These miles have been construetei by the Harlem
Company sEd they viii require 70 Be- paid for the us Of
Die for the tame thing and the item is one OF sond-
siderable magnitude. Vow We were charged Win
Sl5COO extra for elongaon Of the line the eastern
and The beast that ought 70 be done was TO take out
this e1Ira for the other mira If may be allowed to
should terminate at or near williams Bridge But 1t
msy be aid that the directors hxed the location
contractor bad nothing to do with it-and that ~ ~
was shorter than his contract this much clear
gain TO him My answer is, that the Harlem Company
originally proposed that the terminus OF this road De AZ
or near wism's Brdge.st was go inserted in the law
at their inttance The question at first vas whether
the line should come to Harlem but the Harlem Com
,any ohected TO this and then agreed TO let It come
10 or ncsr Williams Bridge. hold thatthe meaning
- of that is that Il should come a. near @ practicaoe
Now the engineer showed that there no ply sic d
1culty in coming to williams Bridge. The question
then are pay for this road aud not have the use
of IL without again paying toll to the Harlem company
Another item / may az well refer to. ind that frcm
we 10 ten thousand dollars have been paid for spikes
more than chairs would have cost; and chairs have
been used In preferences the gr st Hudson Railroad,
where no expense has been spared to obtain whstever
l..t nat item nQb
for the original contract for chairs not spikes
Another item is that, in some places, the grades are
seven or eight feet higher than the contract In one
LEGALITY there soid rock to be cut down and IL
wssusrtly sected but It found that IL could not
he dne in time the opening OF the road and II was
with; and the stuff removed from the base OF
the rock placed back again, aud al inciaed plane