The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-06-10

road or,.uotoD, and tia fitness and necessity Of Can
ten Q depot nave after years of deferred hops aad
xpecsshD, Induced them TO for yard and
cure .po our property suitable aee'mmoaAsi'ns for
Ia sddion to this source Of supply the Lyksns Valley
s0o w ,ssta ss Nearer slp.cs suP2af
the meanof transportation A. Miersbu g, tbs point
OF janc'iu Of The Lyksns Valley railroad vita the
six hunosd tons. At Sanbury, the terminus of the
railroad, Mich outlet OF tn, Snsmosn coal fields
We Eieiss put in connection with the properties Of
aous fixen coal mpaniss ell or nss.y all prepared
20 tour thir prcducls into our lap.
The mos portant transaction to report is al agree.
Ment With tbs fevorton Coal and Railroad CJmpauy to
lease to 'hsn for three years from the time that ooh
can b bought the Northern Central rail .oad to
Canton, la,t of the susquesauna wharf and sojoaing
proper nine uuored and ten feet water fons, win
GePh Of light hundred feet from Clinton street to Port
Wsrcens hle, ut rent Of Eve thousand dollars per
mum for two ysAfs, and seven thousand for the third
year, vita TIM privilege of buying the fee simple 81
sixteen tocuad six hundred sixty ak dollars aad
six'y sevsn eants Improvements to be Ately
1910 Sa sos q ~. les. s.ss 'nTn 5e%
action OF either board has W. had upor this
subject; tut, with ths pton OF minor details
DOR commit ec have sgreed upon II.
This Ia particularly gratifying circums' snee whi,h
The board Is Enabled to report inssmuch IL sG I'd
real positive evidence Of the benefits OF the rsr
zKtenson 10 grounds even Ia antcip ston OF ts
|plction.
1t Is verify OF remark that Ia tina estimation Of tn
whei elm the shares to be worta seventy tw
dollars and senty Ave CENTS The properly leased to tn,
twenty liz Thousand dollars .'4'' : ~ 1NN'. -
Tho annual rental Of the otmp.pys property, exolu
vs the Lease to tho Trsvors0n company now amount
The vary satisfactory condition Of the oompauy's
finances challenger the attention of the and
must command their increased confidence.
The Canton company Ia not only the owasr Of very
valuable real ettae unencumbered, and which the puo
accustomed COuatftunQ th0 sole
ue Ct its shares but they ie,y free fro IT.
Uh negotiable assets hand available at the discrS
zion Of the board, for any purposes Of the company,
amounting TO- IN round aguIes, $3.50, 900.
Geo. Dobbin, of the directors OF the P.tsburg
and Connslisvis Railroad Company, who sent on BY
the city Of Baltimore to inquire into the condition of the
company, whose bcnds BAlt!m had guaranteed to
large amonnt, has returned and made long report 1t
conderus the management of the road very severely
But he did not consider legal coercive I'D
vsabe he made appeal to the Board Of Directors and
by ker CO operation carried into effect the following
reasures:-
1. The company puspends the aking Of all
Tracts a1d all disbursements OF ,nsy except such as
incident 70 tie running OF the small portion OF the
road now open.
2. All the assets Of the company placed In the
bands Of Jas. g. Kincaid Esq, Of Pitsbug, one OF LIS
highest confidence to DO BY him retained until the Goth
OF Jure in which interim he whole affairs Of the CON-
pany be laid before the authorizes Of for
such action therein they may think the exgenciss OF
the Gaze msy require
In connection with the passage of these measures,
mmttes appointed to visit Baltimore and urge
the city the Of plan to be presented by them
whereby tho past difficulties will be healed and the road
pushed to cmpston and the President of the company
resg 1ed bis q his resignation to take effect when the
action Of Bal i'm IRE shall be had upon the about
to be submitted to them.