New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-12-13

Mr.. HusI said The COMMITTEES we're not prepared 20
/ report this subject.
The fonoMins letter was then real by tie PREH.
orrres rrssNtwR RI YosrIcg Jaiv .. 50
Cosf"ser esi,s X N.bs.S. h. s-e, rrsnipr o. 80
rod q tbs Company 10 the extent o. S9 ses TIE To-
l~ne = ne iase eNpefse 81 fle tctweea ~ea I'D ca
-h cot Of wood per mile RI line Ct this road a. the
sfsss 90 g ess cord II .-a.s 20 al e beng On @
- S. eo.i Der nile II io ceats oa $50 m-s, $50 q
DHeie1se SIG y 20 ss'nt on o5e niles, nA11s ret
rint a. dire - So cce miles woa,i ssvns 90
pr yesF TIE above estimates made uPoa the
III Of yOar snsine in burning bituurEsas coal
=. h. .ns Tine s1ons Al conysassss ot, .oi. whisS
bas perfected 70 b les oconVenieEs tAs
To The before estioDed sAt be sddsi saving sxpens-
in help the stations in woodagup .pd ,yo5ins the sr
hoe Of the road equal ia amount TO the Of ESQ TO each
Your engine h.. performed with perfect Satisfaction both
on passenger md freight trains senersus steam with facility
ard 'sadn', to Be- ,~'' PsPfes 0S WHIP p..a.n,
Upon the suggestion of the President the subject
was left in the hands OF the COMMITTEE to report on
hereafter.
The PREsIpEyr uext read communication from
Mr. Dyer recommending the adoption of resolution
calling for the enactment " Law Furnishing the 9TH
Gals of rosds by whose neglect accidents occn The
following resolution was adopted:
Res0cd That this Communication be referred 70 the con
70 ss splSsse ne ne .'s oissa a.. b. oc1o5
sha be best calculated accoup h the objects n question:
ard thai Msr Dyer and Hopknson be added 20 this com
The following important communication was read
by the PREsIDLSr
NEwJsssrr RarLEoAp orErcEl
J. P. JaoKsox Esq, Vice President &c.
Dear IN accordance with y0ar l,e.tioa, proceed
furnish you with views Of Ae Of keeping tae soc
aud other companies. with reference TO IN
.B perfect accuracy combined with convenience and the
srssie.t ,eeuriy saanst aud
To drafts c'dee rules for the transferring Of stock the
issuing and carceng Of certificates. that would posses thu
merit Of sIPhest' 70 al eomPsne. slts and equally
vnispt 90 .sfs tor al Do rot consider PoSe sron Oqs
NewYork ard The varied Circumstances To vhoh sach code
would svs ons IN ny rsn 70 ,Ts
different Institutions that the efeotul mode 20 insure
company 20 devise for such rules suited
character The position Of rs stock n mnesy erer .nd the
Of course eertsn genera principles which must ind place N
general daics for transferring STOCK, h.. proposed
quaTter and far mere convenience 10 coueerned
h would undoubtedly Psye sdysntsg'oq. but no ssiisr ,e
curly il sat wsud s''e I'd its s't.b'smen tesn may b
obsned b, the spsEats Aetion OF eaeh lnnon snd IN
fact, it would IN no snail degree eomPhcate what "a nov
II Is Cue % all stockholders that every facility should be
them susr their stock obtain aud exchange their
With that view il has slway. given pleasure sow Of
snd 70 certificates Of our stock al al hours
allowed only within certain hours certificates ..ued
ppu The "a, se, sucb re- Eu .ons hich although
sdopted for tbe sake Of ssier eoaveuenee 70 the transfer
ocer, and with reference ne additional safety pesamedt to
Another regulation Of the character eS. in some n-
uon. which allows only transfer o the same stock on
hi. be virtually volsted BY having the changes between
parties during the day ,PProved 10 The musa only until a,
the ssf eir.n Tbi. Instead Of n.uns ACCURACY requires
ad4inoua care and srsaer safssqards .s,in.t errors
certified By transfer officer 10 addition 20 the transfer on
the books the Company has 81 times prevailed ia some in
.ttutions; but while has advantsse has also inc
vtnieuces which would efecualy exclude hom adoption
. ~ sEy O0"f''' "''' 10 '''' I4-''' '''''''
Tbs stock accounts. sdse. transfer aud certificate bOoi' Of
-. .Nrf.k KANT ag
rson Sec etay The esriid a',s After beinI aied up
ard 'lsped BY me age Pe'epi.a 10 me n'
ell times 10th transfer and certificate books. asd are resa-
sy recorded connection with the account Of each stock
hode ard when certificates surrendered. they are mme-
dasy destroyed BY having the signatures esed snt are
then Ged away In thu order Of their Three nee
Jestsiee for ciyidenas snd once for the election OF u
balance sheet Of the iedler made out b-ias sub
Jet az each tire to tho examination OF a.. 30
cry discrepancy csDuot fail TO he di.cov-red a9d al
the books the Office Of the Compsny subject At
time to the inspection Of the superior officers and the bod
Of Directors th. Is te for any fraudulent practices
iicstle
must borne mind that the frauds which have been
peipeaed hy the Of false ceThe-tes Of stock shefe
tie rsEssc have no oeen eonnved at ~ hs Directors oi
COMPANY Ill secured through the f,elrs, afforded By
equDg H. Ne signed only by transfer agent or ~hst
I Ss r,gIe ef he ins efesr in both ese. The soct
b6gers being exclusively under the eontro OF the parties con
eeusd in tie fraud either being kept oy themselves oJ
clerks suhozed BY then sud not responsible 70 ne eonpa
nss involved And here he fsmsrssd NAY t9s pLsts
Of sung certificates IN blank Is TIE natu A. result o. 700 sfsa
snurpie.ti'n q ssnst9tes snd !. 70 sos.sd any s''i-
{ " I
In the of the New Haven Railroad Further facilities
Afforded rather there lees danger Of discovery,
- ,h The bsance sheets o. the tested
If roed they made out ard although tho .toessods
bee the case Haven Company also held n cleo
on for Directors before them OF tho.e holding stock.
Win thsr respective Quantities boldly presented the psrps
Of the fraud that COMPANY set by cot addas the "a
By Incorrect iostinEs he succeeded 70 pasos tn
ordeal III could 50 DC called whet ne neglect OF ms IA
sd .snituSe could De cied throuh the psy-nof.
d,iderd in any Company withou, collision eetweea ns
sgft g % es s,s 80 he S al x" siss
Of the spurious Wouh refn ton ealing tor DIVIDENDS
r. etns.s Of he stock VI such companies
y paving for officers each iadepe ndert OF
would find many attendant upon he deynf and
ccuyius out o. scheme Of any ms9u9de, 70 s.ss4 ~
DO nor think that 81 plan f conducting the stock depart
sEanse fraud that pafsHec ethousa some Com
AZ he psr he psn The les likely L
hss we'll .nd It's success IA Praciet 9psrioa should
nuend t. and examinations BY the Board q Dtsetosa q.
nesulsl Pehod' requiring oq few sO1s, Ssss 1s Jsassr
impossible thst the Jerey Esirosd shouI ever
suffer from the misconduct In oee Of i' seeteay o.
rcsri. should The COMPANY eyer be 90 anoftan.,s
INTO ts would pleased however, to adopt any altsra-
lions The Bead Of DIeeiofs mag deem advisable.
~ 4 'WRsIrEHEAD Secretary y. J. Railroad
Mr.. HOMER suggested that in cases OF fraud the
best practical plan was never to exchange cer,h.
cate but TO ndorse it, fhis the be5tcourse that
could be desired, except by inscrbing the name Of
the owner Of every share upon the books.
Mr.. DYER was Of opinion that stop -hoald be put
TO the present manner OF exchanging cer'inces, u
thew desired t. give the public increased confidence
In mating their Investments in railroad stock
The following resolution was offered by Mr. DYER
and adopted:
Resore1 That the Aessrs Homer, Dyer Ph@nir De sp
ronted Committee whom shall De refr-o thS aVo.S
conn uueaion OF The subject Of s'ezusds 10 the "ehsef
and certificate Of stock report a future meeiieg
Some little discussion then arose relative 10 TOE
future meetings Of the Convention. Mr. JARVIS sug-
gestsd that the meetings should be held once .
month. He considered that often enough for all
urscfical uurp0see.