New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1855-05-11
Total 4 months, 1884. ~ .355 49, 20
Fotal 4 months, ls55... l,3d lo6i "a


The increased receipts from phshtnseIs 50 iai 'ii7
year. compared with the corresponding months OF 1884,
were s2e 6ll lo and the decrease OF receipts from
fecht was s52 433 &C. making the total decrease of
pecepts s25sl9 56-a result entirely caused by the
ahortness Of last years crops
The Annual Meeting Of the New-Yorl and New
Haven Raihood Company was held in Brewster 4
Hall Ncw-Haven, to-day. At the hour appointed
xbere were about two hundred present 1t was ex-
pccted there would be considerable spaning between
the holders of the old stock and those who hold that
stock said to be frauduenty issued by Mr. Schuyler bnt
hseems the meeting passed off without any more excite
rnenf than IL usual where pretty earnestly OPP
posed to each other upon any subject. There was a
very strong determination evnoed on the part OF the
majority to resist all ovcrtures for compromise with
The holders of the new stock and abide the decision of
the Courts. The meeting called TO order by Mr..
Dyar, the acting President, aud the Secretary pro-
seeded TO read the Report of the Directors OF the
~New-York and New-Haven Railroad Company,
s'nade 10 the Stockholders May 10, 1850"
Mr.. Dyar announced the discovery of other frauds
committed by Robert Schuyler, by system of false
entries of accounts TO the amount of el37 ST. and by
request Of the meeting the Secretary read the items.
After the reading concluded, one Of the stock
holders inquired OF Mr.. Dyar whether he would con-
sent to act as President, if elected.
Mr. Dyar expressed ID discrimination to retire from
he unpleasant position he has occupied for the last few
nsnths.
Mr.. Phenix thought that some outside influence had
been brought to bear upon Mr.. Dyar to induce him to
retire; and he asked If there single present
who would name oho-go against him that should
induce him to retire, to drive him from mis- once
He wanted no covert action, but that gentlemen should
speak out.
Mr.. Dyar announced that no motive could induce
Atn TO continue. He much obliged TO the gentle
man for bis complimentary remarks, but the duty was
Too arduous He only consented TO occupy the office
until some one else could be selected.
Another gentleman thought if il was true that the
acting president forced by outside influence to re-
tire the meeting should sustain him. But he thought
twas not true. lie thought the desire the dsplace Mr.
Dyar was because he lac ked railroad experience. The
unpopularty of Mr. Dyar arises from his strong desire
to serve the interest of the stockholders He may have
erred through want of experience in conducting the
affairs of such a company We ought to discounten-
ance charges brought against him by persons who are
more interested commuters otherwise seeking to
make money out of the road when he is acting for the
interest of the stockholders.
Mr.. Phenx thought the road now was one OF the
best managed roads in the country under the supern-
sendence of Mr.. Hoyt. lie thought it was wrong to
nv to remove meu rom office who had done 20 much
Tor the company.
Mr. Buckley concurred with Mr. Phenix that the az
rs lad been lately well conducted, and if the present
Board can be permitted to remain in office, the honest
stockholders will soon be able able TO realize some
thing from their investments.
A discussion here ensued upon the resolution now
before the Connecticut Legislature requiring the Pres
ident TO be resident of this State.
Mr.. Brewster said that no matter how well conduct
cd, the income wasnadequaeto compensate stockhod-
ers. He thought fares too low; he wanted reserve
fund created to meet contingencies. Ii We divide or
up all the income, how going to replace the
IRON when out.
A gentleman wanted information in regard TO the
condition Of the suits in Court upon the Schuyler fraud
The President called upon Mr.. Noyes to make a
statement
Mr.. Noyes stated briefly that eight suits have been
commenced against the Company upon claims upon
stock alleged TO be spurious-in oil amounting to
$50, 600
N one suit all the property of the Company has been
attached. Tie object now is to make one suit settle
the whole matter. This has been done in the Supreme
Court of NewYo,k by getting injunctons against the
holders Of the fraudulent stock TO prevent them from
bringing further suits Some Of the suits are for money
loaned the stock and some for the full value OF
the stock and the right of the holders to be equal with
those of the original shares Of the Company.
Mr. Noyes is confident that the decision Of the high
est Courts will be in favor Of the original shareholders
His decided opinion that the holders of fraudulent
certificates have legal rights stockholders in the
Company. The case with the Mechanics Bank may
be finally heard within year, and that will furnish
rule for action of the Company. His object is to &c
decided in the Court Of Appeals soon pos
able.
gentleman said that when we have taken the
opinion of counsel, although it may be upset ia the
end, stu It Is always safest TO follow opinions OF
counsel
Mr.. Denny said hataw was A very uncertain matter
and after getting decision in our favor in the lower
Courts We may be finally told we have commenced
all wrong. Distinguished our counsel may no ba
may be in error. The prospect Of Etigat;on i; s,,b
that we may never to an end. am iu,.ros.,l |
upon both sides in this matter. own stock Of both
Kinds. In to an inquiry he said he OWNED ,ho
largest amount of the kind called spurious stock He
thought the final decision OF the present sui; Of tie
Company against the new stockholders would be |
against the Company, because the Judge was dis |
qualified from granting the injunction. Itmay be two.
or three, or four years before get decision.
A gentleman called the speaker TO order. There |
vas no question before the stockholders Others said
90 on.
NJ. Dennis said be only wished to show that there