The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-11-29

meeting OF the Stockh0lders-HspoEt Of the
investigating Observation-Disclosures Of tho
Former Onscers o6 the Company, sc.
The small chapel Of the University was well allied last
evening with the stockholders Of the Parker Vein Coal
company Considerable feeling was manifested by the
speakers, though it Of quiet kind; indeed, they
seemed to have become quite dspred at the prospects
before them, in view of the astounding developments
that had TO light relation the conduct Of their
former officers.
The meeting organized by the appointment Of
G. r. Marvin as Chairman, and Mr. John O'Brien
Secretary.
Mr.. WALDO HurcrSGs then read the following report,
ON behalf of the Committee Of the Board Of Directors,
to ~ho the investigation of the affairs Of the company
had been referred:-
"a the election Of present Beard Of s
ys rrssidsns; yss lrsaasns James
sase ssas.rsr and ylsss i was inst there
had osssus ten hoasasd shares Of the
~ hs s sssrtsl e .as u 800 shares each
sa@ s bs oS s @SsM Mali Jewel. aud Stacey that @
shares had been saea ,ua y ana M
time The o., positive assurances thai NO more
- several stockholders permission ~ examine the
books the which r1 s ssras s
Directors. believing that there Lad been fraudulent
Directors and company at the cleo
ton advertised TO lie held at Cumberland on ts 9th day Of
for about ssuo shares purpose. This
strong suspicion still greater osersuc and njunc
on aplle r and attained srsaans the further IS
committee Of stockheasrs, hoidus proxies for about
500 SHARE to IaI,serad 20 ssns sas s Zee
.th day june last, with view TO the election Of new
the company. opening Of the polls, the
The so~s we're Challenged Gy GUS r. Jewett and the
sIeeors receive nem the ground as they
persons ssnisg in TACT cekhoders
nor iist II sochhodcrs at Rand much
dcusn tho ee ion was nna adJeprnsd ~ cons, nj OF
from New YORK inspectors, In the
the o. about sN sar.a 9, We s,oe Tor ahsa
the adjourned day CT the election It b
ers AZ the polls on either DAY Of ths
beth y tho Ssg'eSr' ard y Mr. Ss, Tn
was about s.t.o, Mr.. Jewett dsclpias to vote.
Of Director And shortly Afterwards the new board
the once OF the company IN the city q New lorS and
the oce BLANK transfer eoeA and stock
certificate books indicating TN extensive stock business IN
On inqTiry then tanned. tina, Immediately
the books and papers Of the oee hal been
~ express to Cumberland COMMITTEES Was there
sttue lie necessary legal possession Of
ss ss SDs 4 sTa eoauseoSsnad an
court authorizing the searches and seizures
vas onnd tc !, locked u yoAen open and found
h the important books and papers .. the company we're
missing The stock books, books check and banks
the important books and Of the ONCE had
Thus the efforts the Board Of Directors avss.i
alleged fraudulent issues Of stock and the
who'll, aborye. Being thus thwarsed in their efforts 70
notice the newspapers printed
The city Of New York requesting the stoekhoidsrs q the
them respectively to the Office q Msisrs W. = j. . Irsn
received showing that upwards Of 100000 shares Of
Alter the lapse weeks and your COMMITTEES
e,e sometime in August last portion Of the books in
dered 10 she Board Of Directors by otis J. Jcwett
ov,R Issued sr STOCK srocx .s,,.
whole number Of shares issued was io number
shares ~ the s sesres Ta The s
If Otis Jewctt and his account the stock ledger was
that here were sss shares standing
T. Stacey Treasurer on the stock etse for which no cert
Dcstes appeared TO be outstandngthns making ths actual
ISSUE IL III shares
III appears from memoranduns the margin OF the check
toos which the only books found by the directors
has credited various dates between July,
IA s ssr dsassns cash debts
% ss ! appsa. on the sae hand ssa !, s Sss
se ser,sned by reference to the dates ., the over
4sies aees, 5, 3" eavinsa balance unacecanted for
JAMES 8. sracxy's ACCOUNT.
% from the cheek bosas that at or about the
sndinf credit Of the in the different banks
saisSse. sere drawn out BY james G. Stacey
IN, what they were applied committee have
rnr ASSIGNMENT.
Of Drectcr. on the 9th Of June last officers q the
Company hsd made Of property and edet
~ assirrmen, va: executed ~ Otis Jewst., Vice
iG ,s' Of the Board Of Director
ssssed 81 1854 soJ Phillip Roman and Charles s.
md recorded On June the clerks
ass Z. 20 a and rssrod from them
they would trust whenever
he erediters could be obtained believed that the
ne. hs p T, herewith
o5rsyias The company .hsil ss saoptsa
S are Of M pfe in as ne o
psndous frauds ever perpetrased country breach
,us sn
tude NEIL calculated to not destroy all CONT
Kinds much regretted that laws prescribe
punishment c such offences at all proportionsd TO their
ssss The
interest Of the stockholders under these circumstances de-
The validity Of these fraudulent Of be
questioned perhaps successfully but in that case I, may
holders Of that stock for the they have limo
TO n hs T. dispute is
claims upon the Company would involve us in long course
aon this. ansnsia condition Company which
II not amore equitable, remedy.
amASrIry AND VALUE or rHE coNpASy's COAL LANDS.
S the an. =. Of s
property OF the company, have visited the mines in Ale
khany county.
The company about 5000 Of cos. lands lying In
the Geors Creek valley and vicinity in Allegheny Mary
land ncsriy s Of which underlad with the smaller
veins strata Of coal and about 100 acres OF this
property, $50 the Jackson sol OF the
foten and $50 Of the Wesernpor. property Is under
Jsctton mine Is already opened and in working condition.
With its inclined plane, train road mining cars tools and
implements. and miners houses,
II impossible to form adequate idea Of the value Of
heke lands without entire inspection OF them.
We repeat that they contain immense vein, fonr
feet in thickness underlying At least Oo acres,
the most beautiful semi Luminous coal, Of unri.
allied purity and in addition to this there are several
me- undertaking nearly 900 IL 10. ndeed splendid
property It value will increase from year to year. with
for its consumption and the increased facilities
getting TO market For mora particular description
do better than TO refer TO the following extracts
letters written By D. D: owen, Esq, the eminent
United States gecogs dated March ~ and June H. 1853
After giving statement Of his analysis Of this COAL and
contrasting il with other GOALS he proceeds foows
Thus appears that the eurteen feet Parker bed Of