New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1855-05-16

Loons..........t l5455gl2 -l5fSLl Dec. SSs5'i ~
S S;sS.s:. sas s ss. Pee 81 Sc
Al the annual meeting ofthe Cheshire Railroad Com
many. held at Keene, N H., on Wednesday, the 9th
inst, il was
Voted That the earnings Of the road be retained by the
Directors to pay the floating debt aud bonds becoming due
Toted That dividends exceeding the net cam
run from Of dividend bearing per cent interest win
coupons payable seri-aDuualy.
The following named gentlemen were reelected D-
rectors:
Tbomss Thatcher Thomas NJ Edwards salma Hale, Hiram
Hosmer George d. Dutton, T. Murdoes, Jr, George Hunt
Receipts Of the road the year ending Dec 1854 s2
Receipts road for the gear ending Dec O. 1888 '
o''''
r,o.n... ,ssa...........................@2d, g7s
Expenses, 1853 low
Increase sie,8
We call attention to the following important letter
addressed to the stockholders of the New-York and
New-Haven Railroad Company explanatory of the
leases of the Canal Road:
TO THE STOCKHOLDERS OF THE NETWORK AND
NFW-HAvEN RAILROAD COMPANY.
GFNrLEMES: In answer to inquiries from some of
our unter we take liberty Of addressing you upon the
subject q the Iaede your Company by the Canal Rail
road Company.
Our fret lease is called the Grandst Lease" It Il per.
peiu lease Of all Canal Companys property from Long
WHAT through city Grandst including all lots aud four
acre, Of land the ha and thus giving the
NeYok New Haven Company their present safe and ad
abe location through the city, together with ample depot
Rround-snd all for 500 per annum which has since been
cmmuted for SO 900 six per bonds BY this lease you OBJ
tanned for $4,000 properly which always estmsted by
Mr. SCHUYLER to be worth 900 and which would be
tmaed by those acquainted with It's value at much higher
Our second called the Painye Lease" The lease
q the Canal Road Psinye execute il 1879 by this
lease the NewYork and New Haven Company st pay
cut Of The earnings $4,000 per for operating
the road IN ucs nert TO pay 600 hafyeary the Canal
Road; and divide annually the-exoess $1,000 too
thirds to themselves and bird to the Canal Road You
complain Of this lease for have already made money
out Of IT, and w sOSSs 70 bb bs"d nav @ an
profit Of $oco and the earnings are fast Increasing
But you complain OF it, the fault your onsnce
months oer m dse our Company made app catou for
SOrricE OF the NEw-HsvES AND NORTHAMPTON Co.
"NEwHsvES, Sept. - 1879
" To ne Presidenf and Directors Of the
NV Nels. YORK. and Neis-IIaren Rqlroad Company:
GrsrLEmHs: the principal object Of the leases OF the
Rsssd . Of 1 os Ts s soe' now TO accom-
phCd directed state that this Company viii accept
furreuder the from Grautsf Phnyle, aud
your Comlany from all IL conditions and spuaons aud
ss he ct d 10 esr a Sd san p 9 eA
end the Of the and freight depot eDguehOuse
&c, the same as under the lease. = sr,rrrrprn D.
other proposals in the letter which
Our Gyd ease is called the Extension Lease" and th.
Which complained Of The following statement Of facts VIII
thow YOU where the blame there any is 10 be placed;
During the year l8s engaged in extending road
from Panyie in two observation-disclosures Convie and to-
ward the Western Road In September OF that year we
oiyed proposal from your Company to negotiate for lease O.
rood far as was built toward Colnsyle on The eond
ton that le Wouid stop There as That proposal we ie
cned Why the DeotohP Of your Company should wish
sfyouI leave he dss,:Isn o tSo-s Who
VIII we
Road when January, lss received another proposal
When Il should be completed the Western Road We
bodyng the terms Of the proposed lease was made ana signed
ty the Pres Of the two Companies The roa was to be
Ter was obtained for the few miles q road which would be
in Massachusetts joined i yoH making ana pressing
posed by the Hartford and wlayeu Railroad Company and
other interests While were thus setins together IN
der mutual agreement efforts 10 cbtan charter that
the road might be completed within the year the then Director
shin o vcur Company without knowledge and concealed
from Us into negotiations with the Hartford and New
Haven Company, openly withdrew al cooperation with Us be-
I'm ,r charr an thus virtually BETRAYED our Interests into
the hands Of rivals breach OF faith which we believe 70 De
unparalleled in Railroad negotiations.
fut though defeated pressed forward road and IN the
winter Of 1855 made anoheT application ic charter n MAJ
sachuetts But December Of 1919 again received from
yo Company proposal negotiate for ees OF road far
completed toward the Western Road on the basis Of
enuuG rent Of 5000 for our rod ant portion Of our basin
property with the condition that should s road here
4 as This declined. But again. the h Of February
received another proposal iron yoar Company 10 neoatr
with notice that you had appointed COMMITTEE io TINS
10 This proposal sssented and your Company, after
Got alton weeks On connection By the
printed document with the New-hayen and HA tord Road
finally obtained heir and al er original Qgs
lease e1enson-road OF the three proposals TO lease
our road Pnye every your Company,
two elected BY AMI the third acquiesed IN with reac
accepted because efforts complete road
had been much crippled BY the powerful opposition Of the
cntenen siockholders this heavy burden TO you
bat complain that Company has placed this bur
den upon you You proposed yourselves and dictated m
terms Moreover the then Dheciorshp made the lease Nth
ne eyaoH and ne tHiexfioa o losing money ~ a. They
peced it for they made provisions with vAs 10 bear their
Of They intended lose by H. for
heS Immediately stoupcd the road Cranky back
Haven the rails es and spikes which the ground
conn a. and 6irdd them equally h ne Hardf0rc Com
the and necessarily making the lease expense them
In other they sgreed %ooo 20 the Hart
ford IN order val road from reaching
its PROPER erminafiona loss which they
deied made up them IN know not how BY
But there il another why cannot justly
complain ofus ha. you will bring upon the Canal
reed all the business which properly belongs 70 H. II you VIII
the road Pauye according 70 the terms OF the
fairly devrl0pe ~ and % produce
hereirom the q earnings" (which how
debsred from doing By contract with the
You only money because you have entered
which comTt 70 drive business from H. road has during
past wear been constructed BY other Companies from the
termination the Canal road Cranky Wesfeia Mass
and partly bali aid doubtless
pleted Northampton Nou Company operate this road
10 Wesifed and your engagements 70 the Hartford road viii
10 the read the busints that may BY proper efforts
uecous upon r. the extension lease will
be tax upon Company and the Panvle lease" will
be 0 a source OF large Iront
Gentlemen hs been sid that Company saddied-
nth hrrdcusoe Jesse fth the saddle has been
riseed upon you BY our Company
ms NEw-HAvES 4 NORTHAMPTON COMPANY,
BY WILLIAM JOHNSON President