The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-09-24

reseWeu the pest ana resent position OF the roA1 aad
kibusd The assnca difficulties Of the company entirely
70 the peculiar condition Of she money market The piu
opal bUsnes transacted the Presidents dednng
his Positoe he Appealed 70 the stockholders 70 fo
ward and give little money 70 tho oompsuy
IRON pso.et lie denied tina, ne rsorcs.res the bon,
bode interest," aad sssd That he saved toe Company In
1854 and baa made every effort to do 80 10 ,sb7 rbs
banss be s hal been very noe,a bat wssts q The
company were Ear Iron being sAts ied. Hs made
absurd and in" rtCt statements, which passed for uss
much - they we're worth.
vas reported In Tho ssrees to-day that ooussltauou
bed tAkca place between the banks OF Rayde sAad
the Governor OF as State In eason TO q tension
speds pay meats. Too bAau OF Rh md arc 40 v
their eyes In rsrcao securities taken fw circula ug notes
70 distribute through the wesorn country. Tne railroad
securities taken are Of the very poorest character
Prsvicenoe paper aAys:-
Yeete day lhs most trinS day that has beon az.
pereDc. In he buGSess Of PosideuSe Nuws n.d been
received IA u dav evening T t.e failure H.ogcr
lea & Co., AID o. John FaTnum d 10 of Phli,dsphis
might prove rco-tect; but \ rsu ha-d'y ~narman y
la-r Advices yeterasy The parties hero that suffer b.
Harker, Ira b III, arc very strong
mo Albany Argus Of the 23d gives the following sypop
s OF the oopmiaees report OF the Michigan sooshern
Railroad O, mpsDy:-
MICHIGAN soUrusN RAnR,AD
n Will be pecoi,eO.d thai q the bad Of
D otors or the Aich,san Southern Nonera Indans
Rsosd Company. u tbs tmo Of tendering t1er resans
tons and oscerins election, app,,n Hon Amsss
J. PIbcy, W tbs ciy a John j. WH hit, of Soheneo
ssa,. ca Ssns Inc the aasnas cor ' d
o. he mpsoy and report the Ing OF stok
70 oe beld At Adrian On toe 26sh Inst tn gentle
dhoh ORso sbe duty assigned them, end
pared their fcto spo will suouit at tne stcokhdes'
r,eene F,idsv. Having procured obpy Of IT, go Ivy
interest," no, npii BY soonholden In sds company bat
by Inc lVobc gene ally.
BwiI be ses from tho general state reut socom AMY
ire sbc report that the capital stock Of the company Ia
stated " De -
rspila such. ole,7e2 80
its ded de ot Observation-Disclosures, 8 8a2 COO 20
Total s,9 718 a8a IA
The sum rcp,een,. ,be capital ia so..ea 10 tse ross,
except that the COMPANY has hand ssse,s wn,o
set down IN ,be repot ~ s22il 1877 s6-ceug tho o,ss
psice 81 II srsets 70 he RpAny bat much thae
they rth q, he pee, mt time
The ,'irs debt stated IN the body Of the report,
sbeby exceeds tho sum shic6 nut Ia sae g'n Tai
statement, and Is set do en- at 81 90 S6S 0t This large
debt pre'sDg for 1 daso ment, cons flutes the
great EN- barrSsuen. Of the company.
7h"e may be tho who vii DO 6isaDpoiuted thst the
mec do net 10 their report assAil the manage
n.nt OF the coDI~ny b. gong no oeas Of mistakes ana
abuses and thus sewing ~ Dish Of soAaJal for the Gu
have Judged whely In the ~bos they have sdo
I'd. They represent ;he stockholders aud have o'nduo
The inv alton their behalf The latter Int aeted
IN bno~ing he pres condition Of company ard hat
ben ed instead cf attacking their pYops "
C'eNDG vAtue tue1s true course ii 10 make
the beat most or toe for the futura eAd OF
qusrreiDe and angling about the at This Ia the
OF the comm tees report they Confident that
a. penses Of the o0npsDy In operating ts road ana
other can DO gresy etucod and tnAt by doing tn
and by sfu In all respects, tho stock
be made to pay dividends.
Doubtless the com i,tee have pointed out The tros
remedy for the emba rasameD not only OF hs but ala
OF oil other railroad companies Tho road 10 financial
rotperiy will DO found In the direction Of economical
manager emit Expenses must DO risidls reduced snt
sys,em OF aided and enlightened economy nalgurated
and pursued.
The New Orleans Picarne OF Sept. l3 In speaking Of
the progress Of tho Southern Pacific Railroad, sayr
The iron and everything clio necessary for the compile
lion Of twenty Eve miles Of ths road the spot ,d
ali paid for.
the election directors Of the Ontario
Hue River Railroad Company hold ct the Uued States
Hotel In saratoga, the following perssns we're elected:
John Briggs, Leroy Wiley, Charles Macy, James
Libby, Edwin O Hamilton, Luclan d. Conan, Edmund
D. saxton, W. "a. wadcell. Geo. A. Robbins, Beosmp
Brsndre,h, Of New York city Loveand Paddock, OF Va
tero~n Robert spor, Of Wilton, and Gesyge rbbs, Of
Troy. The directors called TO la New York
Tbursday apiz .ton, the kholdors Aojoui ned
10 meet In New York on the bt or October.
The Of the Common wealth Of Pennsylvania against
the Honesdsle Rank to the penalty imposed by
The Barking law Of the Ststc for not keeping 10 notes
par Pnilsdelphs, tried OF Honesdsle this week
and resulted verdict Of SesS 81 in favor Of the Jom
mopwoAth.