The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-07-21

| country the clamOr was produced by a Sec
tional party, fighting to maintain a monopoly
| in oppositi0n to the rights Of the whole peoples
in the other, by like sectional party con-
tending to support fanatical prejudice in oppo-
| sition to constitutional principle. Five years
hence both outcrics will be forgotten, and q
| rule Of abiding force and truth established in
| both nations.
Management Of Railroads-The Harlem Conn
pany.
| The following letter from an intelligent cor
| respondent, who seems to be thoroughly ac-
quainted with the trickery and legerdemain Of
| railroad management, will, we trust, have the
effect Of convincing stockholders of the neces-
sity of exercising stricter supervision for the
future, over not only the conduct when in office,
but the mode Of election of, their servants; for
| 1t is by means Of the roguery practised in the
i"sSv. ''-'.. ----h rvide door is opened to spe-
eulation and fraud. With the facilities afforded
by the abuse Of the proxy system and the nc
potism which secures almost all the Offices Of
trust in railway line for the members Of one
family, it is not surprising that roads are 50
badly managed for the stockholders.
! TO THE EDITORS OF THE NEW YORK HERALD.
Ibsg to lay before your numerous readers few re-
wen known that for many years past that Company has
been controlled by clique Of stock iobbers and mon
cern am the public and stockholders generally
arc not aware Of tho mods oeranT by which the OH.
Fl tho to sss vsS they
my observation, which win go to prove that sockhol
ers are not aware when they give their proxies for
At tho last election of the Harlem Railroad Company
went TO the Office to deposit my vos-say about half
coo told that my STOCK had been voted upon 'o by
whatauthoryY "By yonr proxy" when was It givens
me that this proxy was perpetual untii revoked ives
very much surprised for when gave this power Il was
understood that it was only to DO used FOR the time
being
bad been repeatedly solicited by Kyle to give him my
proxy al subsequent elections say since 1851 which
using this power at all the elections. observed at the
same time quite pile Of proxies, which scsume had
used all the electons and venture to say that there
Is not one stockholder in fifty when he gave his proxy
ment the poll opened would vote the whole of them
denying TO the stakeholder his privilege Of voting u
! remained Ia force without tho owners knowledge.
One object in stating these facts for the purpose Of
calling the attention Of all stockholders to this subject
that when they have given proxies and salts
ned with the manner they used they call at tho
| Office and revoke them at once.
Now Mr. Editor think the foregoing statement isysr
plain as 1t shows pretty conclusyey Of the ways
controlling the elections Of the company Now for the
further acs, which think viii rebound much to the
credit Of the present Bosrd of Directors Of the Harlem
| Railroad Company. To show how completely this
company under the influence Of its former President
Robert Schuyler II IS only necessary to say that when
he was compelled by tho Connecticut Legi stature
sign the Presidency Of the New York and New Haven
Railroad, else resign the Presidency Of the Harlem
Railroad no chose TO remain President of the New Yort
and New iisvcn Railroad Company giving his brother
GoorseL Schuyler, the Office Of President OF the Harlem
that the control of the Harlem precisely the Slime
as when he President himself. And what Kind Of
President did Mr. Geo. L. mase2 Why, am crediby IN
formed that 30 did not devote one hour pcr day to tho
rties OF bis oce at the time receiving fall pay
Now contend the directors have shamefuliy neglected
their dutiesndecd. cannot ascertain that they
performed any duty at ALL all left 10 their respected
President, who has since slop:d-for maintain that
Robert Schuyler was In fact President Of the Harlem
Rilrosd Company while Geo. J. was the nominal one
There Is another feature whsh think deserves few
remarks How Is i. that there many Blatchfords
connected with this company II am not mistaken, there
sVcc President Batcord Treasurer Batchford Dec or
Batchfcrd and financial Agent Blatchford Now 10 not
mean any disrespec 10 the Ratcbfori name, for b.
here hcm all respecta ble and further not heard
word against .hem; but nevertheless il really looks
queer 70 sec smony Of one name connected with this
co,njany.
It's well known fac: that stockholders generally 10
not give themselves much trouble about the eecton Of
officers; all they require 10 know Ia whether the officers
respectable and satisfied this point they give
themselves no trouble except, perhaps give their prox
their signatures with the understanding they are only
to BE- used for the time being
i'H sohinluncdoh - hiIeaiy Too long, bht cannot
close without EXPRESSING my deep conviction thst the
public ana stockholders Of the Harlem Railroad Com
p2ny have not particle Of confidence In Tho present
directors would therefore respectfully suggest that
the present board resien, and that meeting of thu
ooshoidcrs be called and an election held describing all
Proxies given previous to this date that honest
election may Be had and my word for It. working board
Of directors would 10 elected who In turn would elect
working president, whose whole time would be devoted
10 the company.
This rosi represents some 80 900 in the shape
OF stocks, bonds and debts II vast interest," and
quircs great and attention; therefore none but tho
best and most practical should have the control
What do misnamed gcntemen-lAwy.rs anc brokers'
know Abont The practical management of such
esrnf Tho fact No want busncss at the head Of
truly painful but feel II my duty to state AL that
VIII have tendensy to call the attention Of sockhola
cra 70 their duties.
There question that the Harlem road IL dcstin.
ed to 10 one of the host stocks IN this country for I: has
unlimited charter and is the only avenue By which, Ia
that required !! good management, honest and efficient
ohccrs, and al viii be right. SrOCKHOIDER.
The most obvious remedy for the state of things
above described is 10 entirely abolish the proxy
system. Where man does not feel sufficient
interest in the security Of his own property to
induce him 10 take the trouble Of voting per-
sonally, he should not be allowed to infiict an
injury upon those that do by the careless ex-
ercise Of the privilege Of committing his vote
in trust to another. We have never seen an
instance In which the system Of voting by
proxy has not been franght with the most
dangerous aLusoa And this I. mora espaeiallv