The miners' express. (Dubuque, Iowa) 1849-1854, 1854-10-18
THE SCHUYLER FRAT 10 QUESTION

ri A neeling nf the Stockholders of the Ne,
! York and New Haven Rhlsoad COMPANY, ha
been appointed ny the directors I" take pncr l,
. New York city, n. X TUESDAY, T. hear nnd ar
upon ibe result oi the examination which ,h,.'
have been making si,h regard to the spurou
Tissue OF stock by Rnber, Schuyhr II sen,
tina, by The aid o: skiliul accountan. they have
been able 10 distinguish and iracseve share oi
the spurious issir, and distinguish il ir ~ The
genuine stick The directors have published
the opinion of tw" able lawyers, in which ikry
prnn"nnce the is.ue If the spurious stock To b..
worthless, on The gr"und tina, Schuyler -xc-ed-
I'D his auth"r ", and TINT any i.sse b., ont the
S3 000, ,00D limited for the Capital by the char er
was ipso tactn valuelrss.
Tney say that th. directors Of the Company
cannot lawfully recognize or adopt the spurious
shares, or r. corn them in any way debt
against the company, ar issue any bonds
make any payment tor advances on them, be-
cause a corpor, ,ion is never responsible tor the
fraudulent, nnan,ho.zed and unlawful act al
It's officers, transcsndlng their cnrpnra'e powers
one under color Of his ,tfice They claim that
the over issues were null and Void from the
! bs ginning The Judge who made out the war
rant for Schuylers arrest takes the ground also
That they a-r fprgeries The direc ors therefore
| announce that ,he holders OF The spnri u s,ocx
will not be allowed 10 vote a, the meeting
Hartford Times.
1t is nice question for moralist to deter.
mine, which Is the most accomplished swim.
der, Schuyler or the Directors Of the New York
and New Haven Rail Ro I'd company. Schuyler
swndes the company on, OF an immense amount
Of money and the Company gp to work and
swndle the public out Of the sane amount.
If the opinion Of these t,oo distinguished law
yers be correct, that SchuyIer's ISSUES were
valu-iess because the amount Of s,ocx issued
had exceeded the stiplIltio, Of the charter,
whose business was it, but the Conpany's,
through their Directors, 10 know the fact and
correct the wrong? The Directors had, or
have known what this giant swindIcr was about
II this not their business, wher is the pro-
,ecion for the innocent purchaser Of stock p
Dnubtlrss hundreds OF persons in ~ ,deraie
circumstaDces-invalid men, widows and orp ans |
will be subjected to the keen tortnrrs nf pov>
erty and want, by this lrga'ized robbery. lfth-
technicaliiies # law allow this company TO es-
cape the just penalty Of their gross negligence,
equity ought TO follow i',as loug as it has mile
of track pound Of railroad iron. lf this
company legally escape the respnn sibili:y ot
Schuylers official acts, what guarantee has the
public that it was not cognizant of the fraud,
participated IN its profits and used Schuyler as
the mere Instrument for executing III Gem
panes are as often hard pressed for active means
TO carry on their speeu' ations,a ,as individuals and
are as eager and unscrupuious in obtaining by
fair means, or ioul the credit Of the pubic -
The apology for Schuyler conduct, is, that he
was hard pressed for means 10 meet his spccu-
Iatiye liabilities and that had his plans ben fully
realized, he would have cancelled the traudu-
lent issue Of stock and made all things right
The same apology would answer for The COM
pany
View this affair in whatever light you will,
the New York and New Haven Rail Road
Company ought to be made to stand between
Schuyler and the innocen, holder of stock