New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1854-10-04


In pursuance o. public call Of the Directors Of
the Company a meeting Of the holders OF the stock
Of the New.Haven Railroad convened AZ the Apollo
Rooms at Il O'Clock Yesterday morning BY the
horr appointed for the meeting some 500 persons wers
present and long ere its close this number had large
" augmented.
Mr.. W. W Boardman President OF the Bos-i p-,.
TEN. took the ch,ir and Mr.. F. 5. Aberne:hy acted
as Secretary.
The President, in calling the meeting TO order, sad
hs occupied his present position in the Company with
reluctance. but nevertheless as he had been in
measure forced into it, he desired perform bis duty
cOnscientious,y and ne hoped be had thus far done
so. He explained that the Directors, on learning OF
the fraud perpensed by schuyler, had employed
skllfu accountant to investigate the affairs OF tho
Company. That he had done so, and every share OF
falsely issued stock had been by him ira ,ei the
hands that now hold il. Il would be scen tbs, a
reat and unexampltd fraud had been perpetrs,ei
the consequences Of which would be great loss to
somebody. The road ho viewer still in the best
condition, sni large and valuable property
which by jud cious management might be rendered
amply productive to its owners. BY meeting the
matter wih q proper conoIiatery spirit the stock
holders would do more for their real pocunsry inter-
ct than by pursuing the opposite course This, be
desiIed to say, Official opinion, it merely
suggestion OF his private Judgment upon the matter.
II Directors had prepared report already printed
In The TElnUNTl which they nov submitted 10 the
meeting In that report, the newspapers TO the con-
trary notwithstanding. the Directors had refralned
from the expression of any opinion upon the RESPONSE
blity OF the Company FOR the Illegal acts OF It's late
President. This question they deemed Of far too vital
importance ioresta the action of the Shareholders
They wanted the shareholders 10 tell them what to do.
The good stock amounted to 81 600 OO0 the spurious
to nearly - 600 COO lie knew If they law the
result would be ruin to the property possession
Of the Company. The wlseat plan would be 10 DO
something IN the way OF division Of the loss, else
postpone the final action for time TO come The
President then asked If 1t was the pleasure Of the
meeting to hear the report read.
Mr. W NJ Nermilye of this City moved that Il b.
read which motion being carried the Secretary read
the report to- ether with the legal opinion Of Messrs
VIM Curtis Moves and George Wood, which accom-
psricd H.
The President desired 10 explain that after Mr..
Scluylers illness Mr.. Worthen unwitngly took upon
himself TO sign some few ofthese spurious shares
Mr. Bradford of Boston said he had been holder
of stock in Ibis Company from the beginning OF ts eS
sence tina. he then represented about twothirds OF
the holders Of stock in Boston AMI S'lem. fraud
had been committed upon this Company by one whose
talents inancier and manager had ever been held
in the highest repute aud whose talents and apparent
worth had secured for him unlimited confidence. This
a4semblsge before him DESTROYS of taking action
in hi. emergency. Many plans had been offered;
some 90 repudiate this fictitious stock others 20 as
sumo H. The Directors had declined % advise ei'her
way: counsel held that the Company was not bound
10 assume Or make goon single share OF H. nor VIII
IT, Great aptlause Their opinion was only con-
f,rnatorv of lis own liz had seen Judges. lawyers,
individuals deeply yersed in all the bearings of such
n ca.e but he had yet 10 see the man, or iearn
the law that would hold this Company bound to
assume this stock. Appliance IL was deeply
10 be regretted that any gentlemen should have
,lsccd 80 much confidence in Robert schuyler
and il was not surprising that they should lay great
stress upon the old maxim, "Who acts through an
other acts himself quite forgetting That OF " careR
",Ugf0r" Most of the unlucky holders were resi-
Jepfs Of New York where the head office OF the Com
uary was ard where they might have had every OPP
foriupy of learning tho real character OF the man
In whom they fded and the stock which they pur-
chased. II il were laid down a. a law that COmpa-
Ies can be held responsible for the acts of their
agents such rule would soon prove fatal 10 all IN
co.uorated bodies. lie then went on 10 say that
law fxis,ed In this State called the law of limited
cousrtnershp: in view of that law suppose NOR
chant 10 enter IN business with another and then 90
To- distant pArt of the country leaving the business
Ia be conducted by the general partner. After time
be returns and sees many strange faces about tho
/ Office and asks bis partner what Il means. suppose
/ that partner 10 say, on since you left, i
have been engaged in many unfortunate specu-
"laiions which greatly embarrassed me, these men
I hgVp OF
A." have admitted them tn a share in the business.
Would not that partner refuse to s,en TO such an alb
sursty for a moment, and would he not say - mas
"much as these men have only contributed to your
individual interests and have brought no benefit to
the capital Of the concern they must clear out at
/ .sonce p The answer TO that question would apply
With equal force the now under consideration
He had rect nty statement in The Her1h that
the lolders Of spurious stock intended TO hght their
case and that they had contributed in proportion To
their shares to the services OF Mr. . Conor
He thought they would do well TO pay in the whole OF
! -beir sub.criutiou SOON This Company did not want
10 Sight but he trusted. nevertheless, that II knew
how to maintain It's rights. Applanse.I Much had
/ been said about the slaughter OF the innocentsi
/ but he thought ii q candid person would look over
the names OF those holding spurious stock he "ouii
] end tbaf the minority Of them ranked among the
] millionares, II not the two miion-ares LtuBhtcrbl
Of this City I came here he continued, as the rep
resentGve of nearly twothirds OF the holders OF nus
stoek in Boston and Salem and by these holders, a.
| vel ns bv nv own convictions, am authorized 70
cast INV vote against the assumption 81 tls spurious
stock fy the Company. He then asked # he might
/ be permitted 10 read some resoluuohs winch "o nan
nj Maxwell suggested that AZ the present stage the
-olntious would interfere with the business OF the
rr9eting: ana he would the stockholders that q
! -n,iIar course OF proceedings at former meeting
had resulted in defeating the object had in view in
| assembling.
! some excitement CT sued the genuine stockholders
clsmorng tor the reading Of the resolutions, while
| the UULOhlllOn AZ flhuiOfOuntJ oppp3Sh thcm'
! AtleDgth Mr. Bradford read them as follows:
hyeas n is believed by the shareholders Of the NssYOrf
and New Railroad Company that osng 70 the manner
n which IL Affairs have heretofore been conducted the earn
ug. The rosG been e than they should be and that
rosd which h the capacity Il becoming one Of TIE most prot
rle o the MON ha. tori considerable time made return
/ whatever o. the holders Of sshsres. therefore,
F,solred That Committee Consisting Of - perSons %
cbo,eu from s onr - rhsTehoders Investigate aud revs y
The rroc edngs e It's end employees from ~ com
n,encesut o. prcsent and fayoritsm ms
been used the giving Of contracts or mAkns purchase
On account o. the road al Income has been duly
-, f.rfFv rrane