The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-08-16


said b was not 70 Be choked down. he said: Go on
4 you can; but you can't put me down. You srs
all pack Of svindlers, and can speak IS loud %
you can am an honest man, end II you are thieves
and swindlers, why win meet you upon your own
grounds. Go on, you mean and contem ptibe scoun-
dreis and take my ufe's blood II you can; but you
shant put me down in this way. In my name, and
that Of many Of my friends, protest against the
adoption OF t1si report ana tns paving Of single
'' Mr. Goua.iE said 6e had much respect for the
gentleman who had last spoken. He was an honest,
present. and they should consider this subject
calmly.
Mr. CLEAvEL AND said he accepted the motion to
! accept the report; that he then saw Mr.. Robinson,
one Of the directors of the company, step quietly
to tn chair and whisper thst adoption was better
word than acceptarceZby this means hoping to
spring trap upon the meeting.
The CHAIR denied the intention to spring trap;
that he stated the moved alteration to the meeting
y Mr. ROBINSON said he intended nothing wrong by
the change Of word from acceptance to adoption.
He considered this the best way Of coming to de-.
\ termination.
II was then carried to strike out the word adop.
ton and accept the report TIE report was then
accepted.
The reading Of tho resolutions was then called
for, and it was moved to adopt them separately,
! which was carried.
The first resolution was read and adopted.
TIE second resolution was read.
Mr.. ASA HUBBARD opposed this. He was not
willing to pay for the over issue He did not know
who were the rogues and villains. For all he knew
the directors themselves might have the false
stock in their pockets; they might all
be as great rogues as Schuyler and Kyle,
ment Of that stock, and take it of the shoulders OF
these directors. He wanted to go to- work in an
honest way, and have the proxies examined, the
right done aud ell fraud rejected.
nv NJ Was pufou ~ fhoC op tfoo
of Investigation, said he would explain. Hethought
the company could not hon0:aby get rid OF athering
the over is ues OF stock. The fraudulent issues
were all mixed in with the good. An agent of the
company had issued this stock in good faith, AM
they honoraby responsible for the acts OF their
agent. man comes to us and says: paid $,
much to you through your agent for this
him, You shall not suffer by the acts of our ssr
wants. but will redo m thai certificate We can
not get around this, gentlemen. l think this over
Issue must be redeemed by the whole company Of
stockholders.
Mr. PARDEE, of Hartford said il was dangerous to
tie oomDubity-it was setting dangerous precedent
to Give this false stock. Alexander Kyle was the
led shares on the ledgers of tie company When he
went hey ond this and issued shares he transcribed
his powers, and the company were not responsible
Tor this act. He acted In two cap8cities-as broker
and secretary OF the company. Those who dealt
with him as broker, ard purchased shares of sto *
OF him, had no Claim upon the stockholders. Those
who dealt with him as the secretary only, have
claim upon us. And he moved to amend the reso
luton, by stating thatno stock should be redeemed
which could be ascertained to be spurious
Half dozen seconded this amendment.
Mr.. kErcHUM moved 70 amend, by authorizing
the directors to retire the over issue Of stock.
Mr.. CLEAyELAND asked where this debt, for the
n assumption of the over issue, was to fall (Here
there was some confusion in the room.) Mr. CLEAvg-
LAND continued--Gentlemen we have come hun
dreds of miles to be here to day to have this inter-
Nnur nf all str xxv.n
be patient assure you we will. The amendment
Of Mr. Psrde, to repudinte spurious stock, is before
the house.
joins H. GorRLIE-As ,ong a. live, gentlemen,
hope shall never be willing to compel the commu-
nifty to sut or the dishonest actions Of my agents
(Applause FRI m the Wall street side of the house)
To refuse this over issue shocks every principle OF
morality equity and justice, and am surprised to
hear such desires advanced upon this f,or. Gap
plausel Gentlemen. represent here II 900 shares
q this stock. and am entitled to be heard, and hope
to have ny opinions respected. Cloud applause.)
here state that am respons ible for the action of
my sgsas. and an ready 10 bear my burden in re-
;ssrrl. : the over issue. Cloud apYlause.)
Nj CLsyELASD--Ib hare not been battered By any
ssca applause Is this and dons SAT- il. II IS be-
esr e so1e from toe rural i-trcts sad aot fro "A
is srsEhs. II esSs r-s.ssn-ibsel
Le1sa sssts, 'Ssshsss seao With H." Nothing
NJ Pl dis ane. drea. Ess then called FOR.
VIZ. u. =. WHEvLEg the made few remarks
SAL ssS15BE TIE views CT Mr. G0srlie. and
ssrteirg 10 he opinion that the sto khol5e =
we're bourd, gentlemen snd honorable
mfn, q redeem this Over Issue Of Stock
BE thought j. should be eft much 70 the discretion
Of the directors of the company. Tley were honor
be msD, and would retire it 20 doubt ~ their own
hcnoF and TO the honor o! tse Harem Railroad.
(Ar plapse.)
Mr.. DusESBURY m wed to amend BY inserting in
place Of the word advise the word authorize
This was carried.
The vote was then taken upon Mr.. Ketchum's
amendment TO authorize The directors To retire the
over issues which cannot be identified as spurious
This amendment was lost.
MIR. CIEAyELAND then offered an entire substitute,
which vas lost.
The resolution vas then adopted by large majo.
ty, inserting the word aut aorize" instead of "ad-
vise," in accordance with the above amendment of
Mr.. Dusenbury.
The next resolution WAS then read and opposed
by Gen. Sanford, who made brief spee h ia de-
fence Of the directors Of this company.
The CHAIRMAN (Mr. Whitmore) also, in tew re-
marks. defended and eulogized the directors.
Mr.. ID, f. WHEELER followed in defence Of the
directors OF the company, aud insisting that they
were entitled to the gratitude aud confidence of the
company for their vigant and energetic action dur
ing the Iast. He wanted the resolution passed;
still he would not wish to reflect upon the character
or the ability OF the directors Of this company.
The resolution was lost.
The fourth and fifth resolutions were then put,
and carried.
The sixth resolution was then put. and lost
The following were appointed the Committee on
Nominations
n. v. Brady, Edward G. Faile,
Thomas Tabor. Abijah Morgan.
Floyd Smith.
The meeting then adjourned sine die.