New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1855-11-20

The increase Of the above roads IN Octooer was IN
the aggregate $500 co., 20 cent as compared with
the came month last year. 1t will be seen that the
Gslena and Chicago in the above table shows the
largest GAIN and in per centsge OF increase fourtold
as much az any other road
Mr.. Albert IT, Nicolay will cell this day, Tuesday,
at 70 O'Clock, at the Merchants Exchange, 81, 500
bonds and mortgages, being the assets Of the National
Exchange insurance company of the City OF New
York. 4" sold by order Of Thos A. WATSON, Esq,
Receiver"
We have a copy of the report Of the comnittae sp'
pointed in July 1884, TO examine the accounts OF the
Treasurer Of the New-York Central Railroad. The
committee consisted OF A. c. Paige, r. d. Wslwofth,
and Jss Hooker. The committee appear to have
n ade thorough personal examination Of the Treasu-
rers office and the transfer Offices, and pronounce ev'
erythirg TO be strictly correct They examined faith
fully the entire issues o. bonds and stock and found
the exact amount out which should be- In the case
Of surplus blanks of bonds, they destroyed them as
well as the plates and the plates Of unused stock csr
ti6cates. The issue of premium bonds, the report
states, Is e,OO3 400 OF which, 1912 9OO have been
bought ard Cancelled by the operation of the sinking
fund There are also $4,000 of bonds issued to the
old corporation for the stock they owned in the Crest
Western sid State Lire roads The Grsa. Western
stock hiss since been sold ct loss. There are also
s22s 900 of real estate bonds The committee recon
mend the establish to pay these bonds out under
the other sinking fluid. The report says:
Since the commencement OF this examination the
three railroads which were held by this company un-
der leases wiz the Rochester and Lake Ontario the
Buffalo and Niagara Fla IL, and the lewiston, and
whose stockholders were entitled TO the same rate OF
dividends &c the stock elders Of the consolidated com
yapy have in efec. been incorporated into the New
York Central Railroad company, under the provisions
of the sct of the legislature Of the l2h OF April last
By the right TO surrender their stock by the holcers
thereof in exchange foe stock in the last mentioned
company, and which surrender has in most casea al
ready been made.
The aggregate amour! of the stock OF said corpora
lions he'd under leases was in April last 81 ll5 600.
OF tts amount of stock $ss 900 9ad been surrendered
on exchange for New York Central railroad stock pre-
yiousy 10 the closing of the books for the last dividend
In August 1885, thereby increasing the sock OF this
company at the time Of tea. dividend TO $23 $4,000.
When the remaining stock 10 the leased roads shall
have been surrendered and exchanged, the whole cap
itsl stock of this company will be s2i 200 600 subject
10 the deduction, however, OF the amount OF suc1
of The bonds of the Albany and Schenectady railroad
company before referred to- as may not be converted.
OF the three million osn g. 527 600 have been Issued
in regard to the much disputed question OF transfer
the committee say:
They recommend the plan OF having every transfer
Of the stock of the company, whether made st the Of
fee of the treasurer ct Albany or st either of the rsns
fer sgercies ut Boston or New York. duly oy
parate and distinct officer, 10 whom the old certil
Gates for stock should be surrendered, a1d by whom
the ne certificates should be registered and counter
signed This plan with few trifng modidc itlots TO
facilitate the transfer OF stock upon actual sales thereof
in the city of NewYork, was adopted by )mnittee
&C mpr sed Of some OF he members OF Your board, ap
pointed for that purpose WHO were supposed 70 be best
acquainted With the subject and il wes pat into ptac
tcs operaioD, unde- the direction of tue same COM
mittee shortly after the opening of The transfer bOoIs
subsequent 10 the payne At of The dividend 10 August
ss The effect of this new system 49, that any sto;z-
holder desirous Of selling bis stock may make one
valid trsnsf, thereof Office of the transfer agent,
as to give the purchssera perfect tile :hereto, By the
eDder of the old certificate. But 10 entlte the
purchafer 10 a certificate IS 70 nplste the
transfer and enable him 10 make second tran:er OF
the stock, of part thereof, the surrendered
certificate must be taken TO the oee OF the register,
go thai the transfer may be Tegi;ered AID the new
certificates countersgred az tie So re Place.
The numerous sales made Z the city OF Ner.lo'E OF
the portions of the stock which are in the hands OF
brokers and others engaged IN stock operations there
Will ssariy prevent Gales and actusi Transfers
the books Of ire company OF the same stock IN e1e
day the registry of Ire transfer sad the connie On
ing Of the certificates cannot usually be done dur
ing the continuance OF the sock of the day.
Nor the practice under the old sys EN- of t-slz-
ers 10 make out and deliver the new catiica sc for
the stock the transfer OF the stock 81 the agency n
NeEIcTk on the same day such transfer vas sms lie,
except under very special cire INSTANCES. Tbs de sy
under this Few system vii, b. IN ich less h n Use in
some Of TIE former compsLies when il ss4ry
nc the cert fcstes upon transfers nais a. ne
sgences 81 NeEYoFk 20 he off II tn Es 4rer 10
BE- signed ard entered there.
This syitsm .eTefJre, while i Offers 10 serious
impedment to actual sales aid transfers Of tle STOCK
of The con5aDy, vii protect the stockholders fro the
possibility Of lav,Vg sl,h f-eujs Pr ccel lpoa than
&c the todeIs Of sOcz il oae: c5npaeies hs7e bsen
recently subjected 20. Ard az macG tas gTestss. PfO
portr OF the so,k CT tts company s oEne. by tSose
who hsYe maze pSnacent irves. M CTS therein toe IL
teres Of the s:ockt oders and the isty OF their inyes