The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-07-27

1t viii be by this, which says thing about the
feaing debt and does not include the interest such
obligations, that in any month Of the year. except Juno
and December, the Erie Company have payments to
make either fer interest dividends, and in February
March, August and September two payments for in
forest In February 1885, the insurance bonds amount
ing TO three and half millions OF dollars will mature
and must be provided for in way. Under existing
circumstance the company could not negotiate
loan for thing like that amount any terms, The
semi annual dividend of October, say four per cent
would not be much less than 1--WE hundred thousand dol
hrs. This would if reserved pay on portion Of these
bonds leaving stil the of three millions
81 dollars 10 be raised IT. in The face Of these financial
endorsements, the company declare dividend, an
injunction should at be placed by the bond
holders upon the action of the board OF We
understand IL Is in oontem ation 10 do So and II is the
only way prevent the Eric Comp from delluqua-
on Its pay ments OF interest. Up~ayds Of - wy ~,
= > :. - 1870" .esen. under the control OF a
hoard Of directors who 10 not own in the aggregate Eve
hundred shares Of stock and II IL full time for the bond
holders 10 take some decided steps 70 prevent the
Of the from being squandered by the
payment OF unearned dividends. Tho Indebtedness o.
this company has increased millions OF dol
lars by such payments, and believe u IN in the power
Of the stockholders to prevent any laundering Of
that nature II they do not, shall hear of the
nor pay nent Of intsrtst of the bonds. The
credit Of the company about low Il well be-
and there is Therefore nohng TO gain in longer borrow
ing money 10 pay dividends.
The steamship Asia, from this port for liverpool To-
day, carried out ssss, se5 in specie.
The Manhattan Gas Light Company has declared q
dividend of two dollars and City per share on the
full stock, and dollar and thirty seven and half
cents per share the scrip stock payable demand
The pitisbSrg Copper Company has declared dividend
Of eight dollars per share. The Charlesown (Mass Gas
Company, semi annual dividend Of four per cent.
The warrants entered at the Treasury Department
Washington, on the I'D and oath Of July, d
lows
For the payment of other Treasury debts... 1000 90
Covered into the treasury from. miscellaneous
For the War department "a asa II
For repayipg for the War Department ....... &3l q
For the Navy Department. ST. 245 4S
For rcpayDg for tho Navy DEPARTMENT. 49,. 32137 %
tor me Interior Department. q, o9i rs
meeting Of the second mortgage bondhoders of the
Vermont Central Railroad held at Boston yesterday
We copy the following report Of the proceedings from
The Boston Tyorellvs-
The committee appointed at q previous meeting sinh
itted detailed statement OF the proceedinys ~ he al;
foctOrs IN relation to the several and of the
Ivs:ees and confident opinion expressed that If
suitable beard OF directors chosen who had the
confidence Of tho community and Iwho would take e
cent TO obtain the control Of the road that tho
interests both sets Of bonds could be paid and sur
| plus be left.
II wss further recommended that IL the stockholders
did not elect snch board, then that the bondhoiers
take themselves in the amer most
for their interest," and It stated that
courses wslo open them by following either OF which
their ugh's would DO secured.
The second mortgage bondhodcra also desire 70 have
the directors the control Of the road from the
trustees Of the mortgage bonds. Considerable discussion
n on q p rQa
vas handled With considerable severity by speaker One
holder OF second mortgage bonds sta ed that npo1 app-
cation TO Of the trustee foo his In crest he
crrsd thatB they has money To pay tsy should sesm