New-York daily tribune., 1854-07-07
rsmor is that small over ssae-sor'e 'ew uu.a1.n
cf the Stack of the Naogstsck and Canal hoaas las

rumoY e. that msI over issaeeore few nundroa
ef the Stack Of the Nsogssack end Csnai Aoaa' 10
been di,covcrd; another H. that in sono
Mr.. Sehu,ler Con. Vanderbilt paid hla Que uen.'eo
ftoussrd dols,s being the frt insaihne"' on ue so
;ssue of Harlem Bonds subscribed ior oy nn' ""'en
uopev vas rot seeounted for by Mr.. = TO nc Con-
rany; another i, that Coa'' v ON '"ney onenl MI
Sn,t .nv rscsssary aid to carry him through, there
.y .h.,.c,c ave want Of means; another IS that Mr.
c.s< hes shsccnded, and has been his way 20
Cs,,ss. In regard to this point, know he IN
g.. very III op Tuesday last since which his most in
s..,e friends have ne, him. Mr. Morris under
,tspd called yesterday, hut denied adntsnce HIN,
on The plea that be too ii to any Or Mon
dsS after the discovery Of the fraud Mr.. George l.
schuyler resened all his Offices in various ralrosds and
the house made assignment of all its property for the
bepehs of its creditors. The Directors OF tho Harlem
have been IN session to-day and have we understand
found their affairs all correct with the exception OF $50 90"
of the Albany Extension Certificates, which have we are
cld been resred by Mr. Schuyler AFTER having been sur
rerdered for Stock The Company caution the public
sgsirs' negoistDg these Certificates See advertisement;
In our finsncial column.
We have seen copy OF the letter addressed by Mr..
Schuyler on Monday TO Mr. sturgess in which he resigns
the Presidency Of the Nsw Haven Company and calls at
tenon stock book wherein be says there will be found
much that is wrong. He deyoes the remainder Of tho
litter oIeupang his brother George. in the strongest
and most solemn manner from all CO implicitly in his pro-
cfedrgs ststDg that he had carefully kept a. ka0Tedge
a hem from hin-hst the books Of r. & G. L. Schuyler
contained reference to tbem and that to the books Of
lie New Heven Company his brother had no II
. eply Justice to Mr. George L. Schuyler 10 s4s bat we
w.. TO meet the first person who besvos he had any
...,s;on Of the criminal measures adopted to meet the
,uesgemen.s Of his house. The ovcrssue. of NewHaven
sso, con men,e in October last and at frst doubt
Lss. sdopted merely a temporary expedient, but the
deussson Of railroad interests which has since occurred
not only preveped recovery from that first false step but
forced continuance until recovery became utterly hopeless
What has become of the vast amount Of money obtained
Nv Mr. SCHUYLER is matter of considerable curiosity in
the street We thin it win be found that extra interest
has swallowed a large amount of u-that the Vermont
Vslley and the Washington and Saratoga Roads have
used up large portion and that the generous aid
expde to several Of his friends in their days of financial
embarrassment will be found to have been very expen.
sive to him--in one case high sl2oo0o.
In connection with the over-issue Of stock by Mr..
SCHUYLER we find that there in this of the New
York and New-Iuven Company peculiar facility for the
fraud Mr.. Robert Schuyler being both President and
Tnper Agen, that Company thus having in his power
to create and transfer shares at his pleasure 10 no
other company, to knowledge, has there been or is
there similar union Of these two vitality important offices
in one person Such state Of things ought never to have
been permitted; it is of elf temptation to peculaton
We learn that OF the Transfer Agencies OF Western
Railroad Companies have very different mode OF trans,
fr under which it is almost impossible that an over or
ffsudu ent issue can be made. The system is that a
transfer book merely is kept here, all certificates being
issued after transfers here made by the parent office
upon the return TO il Of the old certificate which is in all
cases surrendered and Cancelled the time of transfers
the new certificate being forwarded to the Agency here
IL here couersgncd and delivered to the party to
whom the transfer thus made.
BY this mode il is clear that issue Of Stock be
mace here certificates issued here and only
issued at the parent Office upon the return to it, Cancelled
of the old certificate This strikes as very perfect
check upon fraud or mistake in issues
There is no risk, to holders Of Railroad Mortgage
Bonds Of similar overssues, these being always limited
in amount and countersgned by responsible Trustee
that il is impossible over-ssue Of them be made by
any one two officials We regard this class of Stcur-
ties perfectly guarded is practicable to make any
oblig alton sae in respect to fraud The truth is that
now, heretofore, of integrity just plenty
and reliable hey ever Were True, such stupendous
rogu.ry looked for from quarters we have all been
in the practice of believing honest and reiabe but is
not likely to again, the occurrence itself will
surely tend TO greater caution the part OF corpora
tons Ly the adoption Of readily available and facle
checks and guards which may be made efectual in the
future
The Gadsden draft has not yet been presented at the
SubTreasury although General Amcn'e is in town. We
undertsnd that lie is waiting the arrival Of the next mail
um Vera Cruz which will bring directions in regard TO
the disposition of the funds
The Exchanges at the Clearing House were oOo
The business Of the Cumberland Coal Co. for the
week ending July s036 tuns giving an average Of
lsas tuns per day. Total of coal sent to market in the
month of
June, ~ w INNS
geue,
Increase over last tyesr............,..l5,eol ,eol tuns
The receipts Of the Ohio and Pennsy Railroad of
Receiyts for June, o" oi
PASSENGERS carried foT tht month, SO 30
The receipts of the Ohio and Pennsylvania Railroad toI
ak months ending Juiy l, lsst sta5 cry So
F.r sx months ending July 2ii 1872 81
INCREASE (s5 per cent )............... 2Vi,A6 ii
Ptsserstr carried f0T the six months, i9osS2o
dividend of q cent has been declared out OF the net
- Ia on