New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-09-22
THURSDAY, Sept. 2i-P. VI.

There wns a further decline in Stocks to-day al
fectirg more particularly the speculative railroad and
zeal shares Erie which closed on Tuesday at 46l,
AFTER selling at Az and Wednesday at al, after
selling at 45I, receded to-day to AZ, but closed at
- y cent. Cumberl and cold down to 30; Nicara-
qua, 49, and Hudson River, 42l. The decline in
New.York Central was y cent, end Reading or
Fcent On The Bond list there was not an active bust
ness though il somewhat improved in amount from yes
day. second sale, at ~ months option to the
seller, az made in Etc Third Mortgage 1885 at 90
p cent. The Bonds for prompt delivery are at the
same time held for s5 and sc y cent. There we're
some transactions in New-Jersey Central Bonds at 81
y cent. The market this afternoon closed on slight
Improvement In the early part of the day. an no.
favorable impression created by the report of the
Eew-York and New Haven examining Directors.
Eomarked change in money rates for paper, orin the
supply offered at call. Preparations are making for
further shipments Of specie by the Havre steamer on
Saturday.
TIE earnings Of the Erie Railroad for the month Of August
xs1niDss for August. Aoe1 80
Increase s527h 10
The receipts at the Sub-Treasury to-day were
al5o, 1868 81; payments sso9ii so; balance in the
Treasury, Sc, 7s9, 500 10.
The following 10 the report of the Directors OF the
New.York and NewIIaven Railroad Company TO
the stockholders at their special meeting Oct g. 1884:
REPORT
The Directors Of the New York and New Haven
Railroad Company submit 10 the Stockholders the
fsowug repo III relation TO The issue OF fraudulent
stock by their late President
Robert Schuyler was first appointed the President
of the Company on the 10Th day OF May, 1916, and
by successive and unidentified elections he has held
the Office up to the Sd day OF July last when he sent
10 one of the members of the Board letter resignng
his office. During that period of eight years, and up
TO the discovery OF his recent frauds he had sustained
the highest reputation for intelligence and integrity,
and was particularly distinguished for bis experience
and skill in the construction and management of rail
roads. An abundant evidence of this is found IN the
esgerness with which his services and advice we're
sought these subjects, and the numerous lucrative
and responsible railroad offices he has held during that
time and the powerful influence ne has always exer-
cised In their government.
While President of this Company he was of course
its chief executive officer, exercising the principal
powers of the Corpor alton, enjoying the full conf
dence of the Company and of the Directors who
never had, until the recent discovery the slightest
doubt of his perfect integrity and honor.
As some evidence of the estimation in which Mr..
Schuyler held by the stockholders refer to the
following resolution passed unanimously at meeting
Of The stockholders held 10 November, 1919.
Restcd That the stockholders have entire confidence ia
the President Board OF Dictors believing them to have
executed the important ,r5s eGmmed to them not oay with
zeal and fidelity, but with hish int llgence"
It's apparent ilom the repeated and un luminous
votes by which Mr.. Schuyler has been constantly
elected that his nduct President has met the ap
probaiion ana confidence of the stockholders
Mr.. Schuyler was also the Transfer Agent of the
Company from the commencement OF its operations.
The Company being Connec;ieu, corporation, its
principal office was necessarily in that State.
Tie principal part Of it's business however, was
transacted in the City of New. York its offices were
practically there. It's principal stock account was
kept Jhere and Mr.. schuyler when acting 10 that ca.
psciiy, exercised the office aud duty usually intrused
of ba ltpha.f Of
The provision for the transfer of shares IN New.
York such obtained generally in tha CITY, ex-
ceTt the greater security that the rrsJ-Sr Agent
u Director and President Of the Company, posse ).
ing it's unlimited confidence and that Of Us stcck-
holders and was not mere clerk or agent er3'lyci
al a salary. His duties and posers su'o 7ese
clearly mark ed out by the By Laws of the Comp
No greater guards could have been thrown II NJ
the execution Of biz duties unless they a %
10 imply entire unfness for any pcss0l Vi tuist;
and his fell struck the Directors it cid The
muni;y, with profound a toushment
The large sales of the Conpapys stock hal a'tgc,-
ed the attention Of one or two of the D,rsc.os IS
early as TIE e9,h of June, but suSpiccn> en-
tertanC6 by any one of Nj Schuylers integrity, Ut
that any thing wrong IN the management OF the
Crmpery until ibe forenoon Of the 80 OF Juy, 1854,
when men Der Of the Board met Mr.. Schuyler le-
gal adviser on bis way as he said, 10 deliver letter
10 the Board nclosed in sealed envelope addressed
10 another Director, who was then out OF town Iae
bearer Of the letter intmated that IL confirmed some
information in regard 70 an oversue Of stock, bat
declined deli, eny the letter. and it not received
by the person 10 whom il was addressed until the nex
day. The Director with whom this conversation was
had took immediate possession Of the stock ledger,
and with several other Directors spent the 4h July
In examibing them. The fraud was then dis ,overed
and rotice given Of il the morning Of the ,th of
july. upon the several bulletins The following is a
WY - "NEw-YeKK, july s. 1854
taarx,Iyxys, beg ressn 70 The Board VI D.
10 ~ he New york and New Haven Rstosd Con pany
a. he osee Of Precedent and the aPPontne.'
All ~ The Company lour sfepon 20 the sock ldset Of
C,nsnx h ssseptisl a. you viii End there much that
Crops The details be furnished yOu with preel,aon
hs.S esn,ot DO 90 In reference the connection Of tacse
s,s.sset,ens Win @. L Schuyler, wish to make my
"i.me ss..rsnss ns, N No way be- my hrshef been con-