The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-05-12

away ephemeral impulse that pa only WIN
legislative but the volunteer services Of .I advisers
be brought into requisition, and sbArcholders be-
compelled, in sefdeence, to ctArgc themselves with
the responsibility Of turning experimenting eye
to the management Of their corporate duties. II
all companies are % example laugh, that they
not sacrifice h and property without mourning the
instant ohgation to make ample requita venture TO
that the constant risks to which the community
are exposed will be essentially reduced 10 no instance
however trivial should faults msfoftunes be permit
ted to pass with impuny and effect this consequence
with the greatest certainty let every legislative body
enact such laws will place the companies In position
wnefe sufferers may receive prompt satisfaction and for
ths purpose let II be arranged that the simple
declaration Of loss of property by the parties interested
would give authority and without appeal the prompt
issue Of warrants Of recovery. As the law stands
complaints avoided and ndivic uals PEELED TO
NIT to abuses rather than incur the trouble and annoy
INCIDENT to litigation when undertaken against
wealthy corporations.
The Norwak disaster commands the strong sympahies
body but when compared with gross neglect
and abominabe misconduct OF the Nicaragua Transit
Company, it ought to sink into perfect Indifference
far elcitrg expression Of public indignation In
ISOLATION with the transactions OF this latter company
have had TO record within few weeks, two Of the most
serious astershe first attended by an immense loss Of
he the other with large destruction Of property and
great personal risk and exposure There has been Pc
cuar culpability in the management Of this concern;
and from the aaoat there every to be-
ieve that the direction not ignorant of the admitted
fact that the Independence and the s. s. Lewis to-
tally unfit for their employment The incidental loss TO
the company by the shipwreck Of the Independence
eeeds $b60(O and the direct loss by the s. s. Lewis
estimated at over $2c0 O0 these hsweve but small
consequences the ultimate result account Of claims
through the sacrifice Of the lives and the property Of
divdusls, win prove much more serious.
As the Legislature Of Maryland is now in session. may
not hope that the Board Of Internal improvements Of
that State will be ordered to proceed without any delay
to make careful and vgant examination into the CON
dtion and security Of the mile long railroad bridges
tween Philadelphia and Baltimore, which traversed
by heavy trains Of passengers in constant risk Of human
lfe 1t is subject Of ndiference-no fancy apprehen
sion; intelligent engineers the authority for fears,
and submit to the travelling public whether they
have heard Of either inspection additional
tIepgth being added to give security.
The legislature Of New York will the oath inst
when trust not only to legislation for the purpose
of procuring to widen the canals but that that
body will devote attention to regulate the misuse Of
railroad franchises and instead of discussing measures
and projects draw from the pockets Of foreign bond
and stockholders portion of their earnings
sst in the proposed improvement Of the canals let tho
more important and valuable object Of regulation
msnd their immediate the railroads inter-
fere with the progress Of the State improvements let
them be called to make reasonable contribution;
but let question Of finance interrupt the interest
ing subject incident to tke protection Of the lives Of
their constituents.
At the annual meeting Of the East Boston Company,
held few days SINCE the following directors were
mously elected IS Lewis BENJAMIN hanson, A. A.
Weipgt c. ]. Hendee w. G. Bsrstow. It was voted
that the directors be requested to declare dividend Of
00 payable the I'd Of July next either In cash
in shares of the capital stock Of the East Boston Ferry
Company at the par value therco-$ 600 per share to
the holders of stock the 21st Of June next