New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-11-09


RIpUpIATIoS OF THK oyERIssUE-THE DIRECTORS
INVITED TO RESIGN.
TIE stooa holders of the New York and New-Hsven
Railroad met pursuant to adjournment, at Brewsers
Han, in New Haven, yesterday, at II o'clock. Tue
meeting was called to order by the Hon. w. w.
Boardmsn Vice. resident of the Road. The call oil
he meeting was read by the Secretary, Mr.. Aoer-
netby.
Mr. Robinson, Of Philadelphia, said that as it was
very clear tina, would be necessary 70 take vote
before the close Of the meeting, be would move the
following resolution:
seS That committee Of be appointed to ascertain
h., present 10 person snd BY proxy And 70
: :.f q h. Es''' u ''' WV
peter 7. Homer, Of Boston, and ]. c. Brown, of
Providence, were appointed 10 that committee.
Mr. ID. Bradford then read the report Of the co n.
lohtee appointed to investigate and report upon the
affairs OF TIE Company.
The Committee TO whom the investigation Of the
Affairs Of the New.York and New-Haven Railroad
Companywas thus delegated beg leave respectfully to
REPORT.
That az the Committee was directed TO investigate
and review The proceedings of the managers aud en-
playes Of the Nsw.York and New-Haven Railroad
CompApy from its CONNER TO the present
time period Of eight yearsit becomes apparent at
once thai 10 accomplish such work in satisfactory
manner would require much time and labor. aud To-
cor siderable expense. Those who are conversant
vih such invest cations must be that there are
many perpl.xities to be disentanged; that one in-
ssgy often ads 10 another, and th. success IL not
easily attained. In confirmation OF this, IT may not
be out Of place TO state that similar investigation OF
the Affairs ef another railroad, under resolution very
sueh like The already recited. was ordered about
two years sgO 10 another State, vermont 90 the stu
of NAV 1859; but the report of the Commlitee-cDn-
sspe Of three GENT, distinguished perhaps be-
yord all others for their sk and knowledge Of rail-
road affsrs-was not made until July, 1853, and at
an expense of $4,000 which had been provided for
by tbs vote ordering the inquiry TO be made. They
were also fully empowered TO employ such means,
and to hire such assistance as they might think ne
ce,sary. ..
Your Committee sought personal interviews not
only with the gentlemen who had performed similar
service but with experienced accountants, also most
aeeustomed TO such examinations; but no one named
tess than Elk months the period which such an in
vestg alton is called for by the resolution would re-
cure. IL is true that your Committee were ordered
10 report AT future meeting, and not oo the second
"wednesday Of November; but il seemed, neyerthe-
le.s the wish and expectation Of the meeting at the
Apollo Rooms, New-York, that they should be pre-
pared to report that days and they very much re-
rrot that il has been found impractcabe do so. 1t
was admitted on all hands that the time would not
pe,Bit UGH an examination to be made IS the occa-
sion seemed TO demand and that an imperfect or In
correct J. port would be unsatisfactory and without
any beneficial result ~.... r..
Under these circumstances your Committee, after
much Iious consultation and reflection, came to the
conclusion that 10 proceed with the investig ation
would be doing injustice not only TO themselves but
al,o to the btst interests of the Company and they
ru.t that the course pursued will be approved by the
stockholders.
Your Committee conclude by requesting that they
may be discharged from the trust which was commit
ted their hands by the stockholders on the Sd Of
October last
Mr. Da,er having declined to act as one Of the Com
nittse, bis name is not appended to th. report
!. ID. BRADFORD
Ely ELLl0r
Rso Haten, Nov. s, 1854
He continue d-Mr. Chairman, although you per-
eeive by the report which, ss chairman of the
mee have Just read that we have not thought our
selves able Perform in the time given the arduous
duty devolvng upon u.s. yet would not have it sup
poted by the stockholders, that have in any way
neglected their interests, or that we have not done
what thought best under the circumstances in
sbich are placed. We have endeavored
from the very beginning TO consider the po
stion in which we believe the stockholders
70 be to day called here to sact and wanting
come one to point the best to be pursued.
IL 10 true that not directed by the resolutions
to express any opinion 10 the future course of the
Company, but yet II seems to US alter all that that
was the main question of interest TO that Company
and its Stockholders, and therefore we have enbod-
e. the conclusions 10 which have come after much
and long inquiry, and good deal of labor in certain
RESOLUTION, nhich, after few remarks which sho1d
hike to make upon 'be position 10 wn'c9 we are placed
to-day shsI with ycar permission, offer to the con-
siderst,on Of The Stockholders. You are all aware
that since last meeting able advice has been taken
nv the holders OF the FRAUDULENT eno that
several learpes councillors in New-York have
given an opinion in favor Of the liability of
the Company. And yet, Mr.. Chairman, / can
not perceive why we should have any great
appreb ensions this account. i know not why
n 10 50, but opinions of legal geHtenen given in
that wey DO not have the effect that they used
90 have. II was a remark of Junius, an acute OBJ
server Of men and Manners that the indlscrninate
defense OF hit and wrong mario VS. the understand
eng, while corrupts the hearts, &c. IL there be
"sDy instances Of Pepus and morality, united 10
"lawy err they are distng ushed by their singulary"
He that he could go 50 far as this rad
u. he could not but think that had they beer apped
to by exclusive owners of old stock, the. would have
fouDd much stronger Arguments On the other eide
IApplsutel He believed mat il had been said that
hwas the custom " lawyers of New York to give
eQ'p'ons 10 fsVor of the wishes Of those who
suited them. He was presumptuous at
their lAst meeting to assert that no
Boston lawyer had given an opinion favor
sarsd 20 repeat tbat statement to-day. He had
sesn no that venuIed 20 assertthe doctrine OF
bHittd power in relation to agents as LAID down by
Judge Bronson and Others nor did he believe that 1t
could be sustained by the Courts According TO
ness opinions, the Treasurer Of che Uaited States
might deirsud the Government of all the money in
the treasury in single day. and gentleman posses
sipg millions Of such property might 60 to bed as rich
o. Cidsus and wake up in the morning as poor as
Lazarus. fihat principle admitted, who would
invt.t IN that property al all This was question
which could only be settled by the established tribu.
nals We had no right b settle il in any other way.
AZ Mr. Webster bad said IN his 7th Of March speech,
that was iDexpedieni 10 retnact the law OF God
Il seemed 20 HIM that IL iuexpedent to reenact
Law " the Soyercif State Of Connecticut. There
wee issuec in excess by Robert Schuyler certificates
m bic opihon as in the opinion Of the Counsel, null
and VOID. Let DO one say that that Company refused
t. pay just debt against It. But they had right
to assume All amount bey ond their character What
ever they mi. ht do to-day he hoped that they would