New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-11-29

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Expenses Of operating teesr.ph............ sJsDS IS
Total.......................... 81
The receipts of coal by the Cumberland Coal Com
papy lsst week ending s5th November, were 1850
tuns, averaging l,27e per day. Total for the whole
Cumberland coal region for the week. $50 90 thus:
and since the let of January last 5ss 2oio tuns Of
which 4i5,2l6is tuns were transported the Bal
iimore and Ohio Railroad, and lt3,o7t.4 tuas do
scerded the Chesapeake and Ohio Canal.
In pursuance of q call from the Directors Of the
Parker Vein Coal Company, the stockholders met
last evening in the small Chapel of the New. York
University. large number Of persons were present
to tsAe part in the proceedings.
At 8 O'Clock the meeting was organized BY the
appointment Of Mr. c. X. Marvin President of the
Board Of Brokers' to the chair. Mr.. John 0'Bfisn
acted as Secretary.
The President said the meeting had been convened.
on call from the Directors of the Company for the
purpose Of submitting statement Of its affairs, and
inviting the action OF the Stockholders thereon.
Mr.. Waldo Hutchins, Counsel of the Company.
read the report ana of the Committee Of the
Directors, the substance Of which we append.
After stating the particulars Oft fraud, the report
gos on to say On examination Of the stock books
1t appeared that the whole number OF shares issued
was l6l 296. The number OF shares authorized by
the charter was 80 900. The number OF shares over
seped l3l 296-a charged TO the account OF Otis
p. Jewett and his account on the stock ledger
found TO be overorawn for that amount. Ii also sp
pesred. that there 1855 shares standing 10 the
creoit Jas Stacey, Treasurer the stock ledger
for which DO certificates appeared TO be outstsodng
thus making the actual overissue l27, All shares.
II appears that Otis p. Jewett has been credited at
various dates between July, 1883, and June, 1854,
with large Gums OF money, amounting IN the aggro-
GATE after ceductDg cash debts, TO about $500 900.
But it appears, on the other hand, that Mr. Jewett
has receiy ed from sales OF stock issued as near
US can be by reference to the dates Of tho
DIVERSIFIED stock, and the maIkst value OF the
| stock IL those dates about Vi, 800 000-leavng
a balance unaccounted for Of about e700 900.
| hwas ramored at Cumberland the dsy Of the
election Of Directors, on the 9Th on Jane lat That The
| officers Of the Company had made an assignment OF
lie property and effects in trust for the payment Of ts
| debts. II appears that such an assignment VS.
ecued by Otb p Jewett, ss Vice President and Prss
dent pro tam. Of the Parker Vein Company, pursuant
10 resolution of the Board Of Directors, passed. June
| 3, 1854 TO j. Philip Roman sDd Charles =. Dsrrow.
The assignment bears date the 5th OF june 1884. aud
wss recorded on the 9Th Of June 1884 IN the Clerks
Office of ALI ghsny County, Maryland. The Directors
have made application 20 the a.sguees, and received
from them the assurance that they would vacste the
trust whenever requested TO do 20 by the Company,
provided the consent Of the creditors could DO OBJ
| taned.
| Your Committee. for the purpose Of obtaining an
necessary information relating TO the character and
value OF the property Of the Company, have visited
the mines in Allegheny County.
The Company owns about 1000 acres Of coal lands
lying In the Georges Creek Valley and vicinity, 10
Allegheny Maryland, nearly all vi which arc under
laid With the smaller veins or strata Of coal and
about 100 acres Of this property, viz. $50 acres Of
the jackson sol acres OF the Totten, aud $50
Of The WesternpUt property, is underlad with the
large vein II feet In thickness. Tho Jackson mias IL
already opened end in working condition, with It's
inclined plane, train road, mining cars, tools and
impltm ents, and miners houses.
IL il impossible TO form an adequate idea Of the
value OF thee coal LANDS without entire inspection
OF them. We repeat that they coLtsin one immense
yein IA feet in thickness undertaking at lesst 100
aoIes Of the most beautiful SEM btuminous coal Of
unIivaled parity; and, Ia addition TO this there are
several Other esssr veins both above snd below tho
principal one, underlying nearly 1000 acres It's.
indeed, splendid property. lis yaide viii inoresso
from wear 10 year. with the demand for It's consump-
tiop and the increased facilities for getting it to
market
The statement sets forth that the amount Of liens
ana mortgage. now due, and that must be paid prior
to let January 1855. after sppropristing the assets
HssSs Of the Aissnees
TshsesS ,,s pr e Jssc iss5 iasins $1,000
for workins capital 'IrV
Total
There il sl.o que on the Caledonia property mort
cages 10 the amount Of e92 600; but q ASSUMED
he,e debis will be paid By the proceeds OF 1000
shares Of stock Of tie Caledonia Mining Company.
which were pledged by the Parker Vein Company Tor
this purpose -
Us
from Isth November 1855, 10 1857, viii be paid BY
sales Of land not required by the Company, then esv
ing sl47 40 10 DO advanced By the stockhodsn pro
yiaed the plan prOposed is carried out III inc Pisa
submitted Is secept,d BY the stockholters me Pay
me ii 10 the Compazy the mortgage bonds VIII %
o. follows, viz: s.x.~
On .eth Dcsss,s I-Ds - =, 81 ~ ~ g5T0
tIs,.s
TIE loan Of sl59. 2S5. 10 be secured By 9 mensxo
on the jackson property and portion Of zoe Tsis
tort property, bich u deemed smPe - AMI In ten
property il now in good Working DE- a. 10 cam
Say, coyle be put ia operation and De "S'' :" '1'"
n he IA Dfereses eoEsEAln A'ea' '"e - ssa0oo,
VIII fe eco ,ssr.' or; ~. lss. i2tgos
The IneT.s - lie -......s.. l2s1,
Is' tones io r., .ksIss surrendered l1Al,1 30 S"e
IT, sIo9 eco Of mortgages are expected TO be pad
by ssles Of land ,.ss saoo
Isasfs 81 s.rslsss for ne yea i
n yroat coal The Vohn n 100 wa a..
20
~ 4; ts. 81 eoal mica ll he OsossSs Cfess IA
sLn 1! vein w.
Pfes 10 gatsr1rrs By the cargo ser coal . SoNa a..
Lereeboert OF S,ock svldsrr-We, the undetagnea,
Stockholders Of The Parker VEN Company 70 vss
81 the NECESSITY Of voluntary surrender OF Us over
issusd stock IN order thai the Company m.y nsse-
tain ia existence, sBd preserve ~ propsry '.e. 70
erifce 90 hereby agree 10 surrender 70 tne iISrsu
Of said Company tie necessary per eensax' o. ~ -
on tie psinbers at opposite Our nsmes, lIfs.nee
! ,here are subsSribers hsreto for at issss iz,si
slsresl 70 - ~ reduce the oat<tsndins snnss 70
| 80 COO. We receive Q certificate Of indso1siss
Of .siA Company for 6vo dollars ior esca 'aa'e wi