The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-01-27

resolution by the proceedings Of the bosrd Of LIST
April 1850; and such latter proceedings there
ore wholly void aud imperative the directors having
no power after the acceptance Of the act by the stock
holders but - agents to carry into effect the provi
sons Of said act and after said act acceptance the
sharehoders could not recall it; and it Is question
legal and moral right for any stockhoder, to have
transferred for value full share, after having as
sented" that 1t had but onefourth OF its nominal
worth, and 1t is difficult to conceive that the directors
Of the company would have tolerated 1t.
The acceptance of said by the stockholders and
the resolutions OF the board In pursuance
thereof amounted in law to q contract between the
subscribers Of the preferred stock and the company
that the stock should be reduced which contract can
be enforced In q court Of equity; and the summary
remedy subscribers holders Of the preferred
stock would be to file bill In Chancery, asking for
fufIment Of the contract and in the meantime obtain
ing Injunction staying transfer Of any Of the old
shares stock until the process OF consolidation
cted and to restrain the old stockholders from
voting said stock at any election Of directors;
upon representation of the facts to the Legislature
of New Jersey now In session, . remedy doubt
would be afforded for the to call for
The legal remedy, however, is perfect for after the
acceptance of the act of eth February lS49 more
than 10 $50 shares could be recognized and greater
number of old shares could be represented In the
tion Of the pany founded upon representation in
stockholders meeting other wise OF greater
Der of shares than last mentioned would be wholly
Illegal. All these facts have been presented to the
company in legal shape and We learn that measures
are about being taken to place injunction the
to prevent the transfer ofthe old stock,
TO arrest certain other operations and to compel the
company to carry into effect the special act Of the
Legislature of New Jersey providing for the consoida
ton Of the old stock.
The aggregate importstions OF silver. gold gold dust
&C, into Southampton, for the year 1850, were,
nearly as possible, as follows: -
ARRIVALS OF SPECIE AT SOUTHAMPTON.
BY the royal mail steamers from
California the Pacific, Gulf Of Talue.
Mexico, Central America, and s
BY the Pennsular steamers
from Alexandra, &c........ 3e3 600 72,732
BY the Peninsulsr steamers
from Constsntnople, &c.,. 2356l66 471,165
by the Peninsular steamers
from Gibraltar, Portugal &C.. 100000 100000
Total s2s7e2oss f6,7oa2le
The grand total ofimportatsns in 1s4s reached the
Of $33 943 275, or f67Ss 655 sterling;
thus showing when contasd with the above that the
receipts in 1850 have declined to less an extent
-han sb24l177, or 81 ,os5, 43e sterling.
While the receipts have largely destined the ex-
ports have undergone very considerable augmenta-
sicn; they are estimated as follows for the year.
Polte
To Indis, Egypt, and Mediter-
To the West Indies Sc..... ;. i235oOo rs, Us0
Te Spain Portugal and Gibral-
sn. ..................... loSooVo SOV0O0
Total................s 77350oo or { l,6e5, 900
We cannot tell from this what portion gold dust
nom California the receipts Fl that part of the
Pacific are mixed up with those from the Gulf Of Mex
SEQ, Central Americs, SO 1t will be that the ex-
ports to Spain and Portugal larger than the i'm
ports from those countries.
The Albany and Schenectady Railroad Company
have declared semi annual dividend of three and
half per cent After paying the above dividend, there
left surplus of $40 900 out of the net earnings
Of the last six months which has been carried the
revenue fund.
ALBANY AND SCHENECTADY RAILROAD.
The gross earnings for six months, ending
For ssms nsriod Of last war a.. o. sac 70
Increase over IS per cent. .......... $l7,2s2 II
The earnings for the year ending a1st of
BSpenss. interest r. having and -
re grading three miles of track. 1920 276 6S
Carried TO new fund BY previous
vote OF Board. 5000 90 l34,2IS 90
Making net earnings Of the year....... $so,5o7 80
which 10 eight per cent the capital stock Of which
$4,000 has been applied to dividends-$l0O0o OF the
remainder carried to the fund The hog trac
on the road, in December, was 1886 hogs-weight,
3sla,2s7 pounds.
The following table exhibits the amount Of capital
OF sixteen Boston insurance companies Unsupported
With specific captal) and the rate and amount Of
dividends paid in l6aQ and 1880