The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-06-18

(FroG che 81 Leeu Istsaig ..cs, Juss I3.I
Tbs deveiopssOerts o. yesterday sere DOT such IS
70 90 macs credit 20 tie justice or sAssciy OF saass
pArSces Ebo havs become 80 Highly excited oa tue
sffaus Of the 0aio s1d Missisfppi Rasirosf, and
hutt1eIss she public press W ta nbis GA Page d
Bscoa in consequence OF their en,rx 90 save jass
d BIT due them The Ct ,cious charge Of Scaas-
Ierisa' has been abaDdonel. and those wao have
nzde it. perhaps siready bave ssmo faint tdes OF
the pecuCialy reep instability attached to the iofu
ge0ce IN sucn epithsts. when thu Interests sud pre-
volve5.
Some Of those who. or Sullhy sea Monday. were
Ioudest In their denuncistiesV Page aa1 Bacon,
have already faced about" aud ackno Wedge thas
they see IothiEg wrong IN the EFFORT OF Page 4
Bacon 20 iscusc snsr deDk Ans oas else, tasy COW
admit. would have done the same, ana ought ~ nave
dore the ssme. They DO sot therefore b sas Page
x Bacon, they say, bus shs directors Of tha Road
who mace tae note and executed The desd OF uus
to Page Bacon. they. it is Ho~ cha ged, exceeded
theh posers, or O. least betrayed thsir trust.
But other facts bese come mp, scd cut like
two edged sword. Fer while tbs charge Of bsusyd
ing trust Is mads agsisst toe directors wac ware
present and took part in the action ccmpsiusd OF,
ana prominent directors sre referred to - authority
thst "tde action Of tbs Duect,ry wss ksps coacsal
I'd from them, even after Is had been adoptei"--
the extraordinary fact Is elected by the Mayor aid
other meLsbes OF the city goyesnmeGt who personal
~ Investigated the fa3t that tns nesting OF tia
Bard OF Dirscsrs, OF which this iAdsbte tnets 10
Page Bacon wss admitted aad secured 70 them,
was the regular monthly meeting OF the Board.
fixed by their by laws In accordance vita sasIr
charter. And not only was ths ths case, bnt every
director resident In St. Louis, (eighs IN nbor.
beiieve), was notified In writing OF the day aad
hour OF chs moathly meeting, and Ia = postscript
to this formal written NOTICE, they were further al
yised by tbs Secretary (ss the icstsaos o. Page b
Bacon) that business Of great impo tanoe would
that day be brought before the Bowl
These fs ts are vouched for by George K M ,iun-
negie, Esq, the Secretary OF the Board, who hin
self issued the notices, and tslegrs ohei 90 Judge
Breese, of Ulinois, also director, so be pres snt
Aud MOI In the name Of all that IL hon sst, manly
acd fair, let the public decide wsat ground tasre
for the charge thst even direosos a tle road knew
nothing of shs action, nor wore permitted 80 know
anything about it II there wers directors wio
could and would have opposed the AcI N taken
whereby the interests of stockholders are periled,
let an iml srtsl pablo decide WHO are tae desia-
qusnta In public duty. ao.a
But the merits Of the case DO not end hers. 1t Is
not only clear now that Page & Bacon sought NO
conceaiment In the pressing Of their claim tor ses
Element on the Board OF Directors that she direct
ors were Gil specially requested by postscript 10 at
tend because business or "gseat imp ortsncs" would
coma up-but IL 10 also true shat toe debt due 20
Page Bacon Is one that, BY sh custom and lay,
except the first and stcond mortgage bonds.
The directors os the road could not. As honest
men, have refused to sodit and pay the dsbt. Tee
ds6 dab, is for money sdssnced By Page Bacon T.
Aye, TO tho uttermost frrhiDg. No cout, either
OF Law or equity, nor any jury OF honest men under
heaven, would fail 20 give debt contra ted for the
construction Of rOsd, preference over the stock
interests OF the road. The deed Of trust IL right
ard proper, and any parties viii interfere with It
only at The coat Of making themselves individually
liabe for every dollar involved.
The amable gentlemen who own no stock Ia tue
road but make no tor lack OF 20 uaiary interest BY
personal defamation q the men VINO have built the
road, as well ~ the moderate holders of unpaid
stock. who wish 70 incte the city and couaty to
sumo o responsibility that their vn shrewd csu-
ton Will not undertake, had Is well mske up their
minds to this inevitable fast, and cep0rt shem
accordingly. The day has not yet come when, 10
JUS community, men Can be defamed and buliisd
out Of jnst debt, and the OF the ordinary
OF collecting it, however unfortunate they may
have been as bankers, or however sell II might
suit interested parties thus to crush them.
This is the course thai public feeling IL beginDng
to take; ard 1t viii speedily spread until tas sense
of Justice is Thoroughly aroused. Already We see the
signs OF action all around US. Judge Br0snerton.
We understand, wholly and Indignantly disseats
from the course of Judge Hackney, in sending dis
patch to New York In regard to tns mastsr. Mayor
Kwg has been prudsntly advised by the best legal
hilty To keep mis- hands of, unless no wishes to
nvova the city in en0rm qua responsibility and
oesibly eventual and heavy damages Tas Boaa
Aldeimen have properly adopted mere resolu-
ION ot inquiry.
Ana 20 passes by ons of the most s,andalous
forms Of obloquy and MISREPRESENTATION that ever
roke uAgovernably over the neads of high.miaded
nd pubic spirited csizeps whose chief fault
o be that they undertook more f0g the pnbic than
hey were able, In season Of uapa pressure,
perform, and more than Q seflsh set OF fault
finders havs the masnaniuity to appreciate or bs
duly grateful for.