The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-03-31

tsrmi.us Of Che Lake usss, wabash end st. Loot RsI
road. q which Mr. Gseigs n. surrows 10 the eaesr.
tent emit From DapviHe 70 81. Louis railroai i bat
ing whi6h will be completed about the time that the
eos ern end Ia finished. Passengers 90 through
BY rail- to St Louis from Toledo via Fort Wayne Haat
pe.on Of the two links east and west Of Danvus, there
viii be air lire route from Toledo t. st. Louis.
few days since the Assembly of this State passed
. resolution appointing committee to investigate
charges against the New York Central Railroad
Consolidation" That iniquitous scheme is now, we
believe, in fair way of being laid BARE and ali the
fraud perpetrated under the act of consolidation
posed. The resolution ia as follows:-
Whereas the act Of the Legislature Of 1853,
tho, iz the consolidation Of certain railoa' corp,ra
tons between the ctiss of Albany and Buffalo, the com
missonsrs appointed to carry out such act allowed the
noduc ion o. certain railroads into the at
rates which mansstly to the desrinent Of stock
holders of other roass entering into sush consultations;
And, whereas, ii publicly stated, and Contra
dicted that Of the prominent apttasts engaged
in promo ing that enterprise made large purchases Of
stock IN said mpanies were not renunsrative and
TURF ed suco stSck into said atom a. enormous
advances, and at great inequality Of valuation; there
fore
Resolved, That selec. committee be appointed, with
power (, send FOR person. and to inquire into the
aud mode Of said consolidation, AID all matters
pertaining thereto
Mr.. Northrop, of Washington county, was made
the chairman of this select committee. At their
first session, Mr.. Reynolds appeared before them in
behalf Of the directors Of the New York Central
Railroad Company, and Judge Parker in behalf Of
the stockholders, the parties aggrieved. Before
proceeding directly to an examination, the commit
tee saw fit to require that definite and specific
charges should be preferred They regarded them
as indispensable to direct them in their investigs
ton. The following specifications were accordingly
presented to the committee
<ha ~ fha An ctto
Authorize the Consodxticn Of Ger ain Railroad Comps
MES passed. April 2, 1853, obtained and procured
second-That In the proceedings under the act Of
April 1862 Aforesaid the directors Of the several
psnes which entered into conso ation BY their nutua
agreement to and with each other executed the 17th
day of May 1883 intr oduced aud aud agreed TO
put into cation certain railroads. aud the stock
and property of tain raroAd panes at great dis
parity and inequality Of valuation, and at rates and
prices which msnifesey TO the detrinens OF the
Of the other railroads SO entering into
aohoaOn, and In fraud and eon.raventon of the split
true interest aad meaning CT the act Ct the Legislature
afores aid
several companies which entered into Consolidation had
shortly before she fact OF consolidation directly or ind
1se large ina had ON
and property OF certain raioat companies WHOM we're
at the time aforesaid below and Of little or no mar
ket value, and not remunerave, and ct Low rates and
prices ard being such purchasers and entrusted
aforesaid, the laid directors then put in and CONSOLE
said stock in which they wese 50 interested
New York Central Railroad Company, q greatly ad
rates and prices and the sad dessors received
instead therefor to themselves, directly indirectly
the stock Of the said consolidated company at par and
the debt certificate of the said company in fraud Of and
to the detfen OF the STOCK holders of the several other
companies consolidated and In fraud and contraventon
OF the spirit true intent and meaning Of tina act Of the
Legislature Aforesaid.
FourthThat certain Of the said directors parties to
the aforesaid agreement while acting such
and being m fact rus for stockholders have realized
received Ind taken, directly indirectly large amounts
PROFITS ArlElDR corrupt and fraudulent
ments arrangements and combinations, made by and be-
tween , ana sassssd and carried Gui IN
org 10 the stockholders, and that the have besn
zed received and taken aforesaid in fraud Of the
intent and meaning OF the act Of the Legisla lure.
Fifth-Tnat shortly before the fact of consolidation
and IN contemplation thereof certain directors Of some
virtue OF their posi- and power directors, take up
charge and convert certain Of the nonconvertble
Issued by the said companies into the capital stock Of
said and thereupon put in and consolidated
the said stock at large premiums and advances aud
cevst instead the the said consolidated pauy
at par the deot certificates Of said company for such
premiums and advances in fraud of the stockholders in
said e,mpsnes, snd in fraud and contravenon of the
SPIRIT true and meaning Of the act OF the Legsa
sxth-That the directors OF the said consolidated COM
pany, namely, The New York Central Railroad Com
psny have contrary the provisions of the statutes
uncer which the said company formed and in dlsre
pany to the amount of 81 15 600 during the year 1885,
without the assent and concurrence of twothsds ic
amount OF all s stockholders first had and obtained iu
the manner prescribed by Law.
The value of merchandise exported from this
port during the week ending and including Friday,
March %, 1866, ,097 95S
Specie. NEUTRALITY-SUSPICIOUS.. 158, 607
Total. ,256, 275
The imports in the same time were
as follows
General merchandise ............ 81, 2s3 900
Dry goods. 1928 sl7-si 517, 1888