The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-30

Trouble I'm the New York Central Ra,lro.4s
Company.
THE NEW YORK STOCKHOLDERS WANT A LApnru
REPRESENTATION IN THE BOARD OF DIRYcToRs-X
STOCKHOLDERS CAN'T UNDERSTAND WHY THE
STOCK DEPREcIATEs-N0 FAULT FOUND WITH THE
DIRECTORs-How TIKI BOARD OF DIRECTORS IA
KLECTED-C0hMITTEE A POINTED IN VIEW OF THE
APPROACHING ANNUAL ELECTION.
large and influential meeting of tho stockholders or
the Central Railroad resident in this city, held a
the Office Of the Continental Insurance Company on Satur
day afternoon, pursuant to the following GALL
NEW York CENTRAL RAuRoAD.-A meeting OF stock
holders IN New York will be held at r. Saturday
18th instant at the Office of the Continental Insurance
Company No Is Wall street. confer on the subject q
the next annual election Of directors and agree upon
ticket TO be supported by personal attendance at Albany,
or by proxy.
Promptly at the hour named the room was filed witt
well known merchants and capitalists and notion Mr..
Trimble was chosen president and Mr. Galan secretary
The orignators Of tho meeting were, from some
planned cause, not present. and of those present
seemed exactly to know what fact the object or the
meeting One supposed that might be the mismanage
ment OF the road another suggested that the movement
intended TO representation in the Board Of
Directors proportionate to the amou Of stock held this
CITY, which was stated 70 be full one half OF the whole
third thought the meeting was simply TO noui-
nate director in the place Of Edward Faile Esq., Of
the city directors who now declines TO serve fourth
suggested that Mr. Fac had properly sustained
in the Board Of Directors and that should be
taken to endorse his course The Orgnators Of the
ment, however either not present did not make
themselves known, or thought that the objects Of tho
meeting were very well understood as no one seemed 70
knew who they were
Mr.. DAHoNE being called upon as a stakeholder largely
interested and Well posted TO give his views suggested
lie supposed that il would be well to inquire of the Pres
dent and directors what ticket TO be supported at tho
approaching election he supposed they had the thing
all cut and dried He proposed the following resolution,
which passed unanimously
Resolved That committee of Eve be appointed to take
into consideration the election of Board Of Directors for
the New York Central Railroad tho 9th of December
ensuing and that said committee report adjourned
meeting on Thursday the Sd Of December at NJ, at
After some discussion the committee unanimously
roques cd 70 wait upon Mir. Faile and desire him. be-
hall OF the New York stockholders not TO resign and tho
chair with the consent Of the meeting appointed Messrs
Dahcne, Moore Livingston, Joseph, Batee and Deano
the committee provided for The President and Secretary
were upon notion added to the committee.
In the course Of conversational debate which cnsucd
large portion of tho stock, w0Se overruled and cut
voted by the Albany men; that The President dres
tors were in the habit Of having ticket and dried
the election and II high time for the stockhoic
er6 to look after Their interests.
Several Of the directors present at the meeting
and denied that there was any ogrong set ticket
any election; they perfectly satisfied with the ma
nagement OF the road and much sonshed that the
ing should BIO called.
II generally understood that the committee should
take all these complaints into and make them
subject of their report.
Mr.. DAHoNE being called upon TO make some remapxs
stated that he could not understand why the Should
be so deprecated. He could not comprehend why legi
venue enough to keep the road the standard should
in the last few months have deprecated. One nfe
renee was, that If there larger representation from
this city where one half Of the stock held the work
would be better done They could be cognzant OF the
receipts and payments Of its cash True, the company
had been in different situation before the amalgamaon,
and the local directors who then managed might now
with propriety TO some extent buy Them but that
enc Lan OF the stock was owned in New York, il
moro than proper that Of the ectos should be
from this city. He had been stakeholder for many
years and could not understand why the road not
would be no great breach OF proprey for the sockhod
to endeavor at least TO find who the officials
tended 10 ring in at the coming election. II they
satisfactory very well they not why then their
committee might take steps to remedy the evil
Mr. GAIIATS suggested that all these matters had been
referred to committee, aud il would be well fer the
committee 10 investigate them.
Mr. TOWNSEND Of the directors perfectly sats-
fed that, upon investigation 1t would be found that the
system OF local directors necessary. They at
present represented at syracuse, Rochester Buffalo,
tors constantly riding the road and directing
Internal matters, and the duty too much TO ask New
Yorker 10 perform. The present trip 10 Albany
month hard enough and he feared that when they
larger representation the New Workers would get tired
OF the work.
Mr. DAHoSH remarked that the New York and Eric
road did not find any necessity for many local di-
rectors.
Mr. TOWNSEND made remarks endorsing the eGi.
cheney Of purchasing committee and committee on nc
counts which had been established the suggestion OF
Mr. faie. lie also favored the proper compensation OF
those directors whose time much occupied with tho
affairs Of tho road.
After desultory conversation the meeting adj.
journed TO Thursday when the report Of the committee
will be presented Some interesting Developments may
be expected, the stockholders earnestly request
ed Ia prepare for the elecon either being present pcr
sonally or by proxy