New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-09-07
from The Pacific, as !. will be Q saving between HI
city and Ssn Francisco Of about 2 600 miles.

unconneced with .the present ain'trson and
the past policy Of the MANAGEMENT Of the road Is
IT, .ys, the Company osn b. r.g;'A'ed Win '0h 'A'hs'
Men Of ehaAer and Of high commercial standing in the com
munty should he In the direction whos nsnes would be
sr.y :ha: the road would be operated with wise economy
ard ito Finances adcou. Taqastd % 70 restore TIA, conn
| the past, b'en withdrawn from them BY The public
j ioffNS wfLKfSsoN,
JOHN A. c. GRAY.
Ntu- Yors Sept. l. 1857
The Hon Hen an J. Redfeld, 70 49, At the West We
| feel authorized say entirely concur above.
This card-i,s tone--the mode efks issue, and the
fact, that it s in opposition to the action of an
authorized Committee only confirm the al egations
in the official circular of the Company-ths. there
exists division in the present Board of Directors
of nature 20 prevent cooperation, aud to destroy its
efficiency.
Mr.. Wilkinson has not been in the city for week
pest. If he authorized the use of his NAME it must
have been by telegraph and without having seen the
card itself. Mr. Redfeld has been absent for more
than ten days past; and whatever the signers of this
card feel authorized to say for him, it is manifest
that they could not have had any communication with
him upon the subject.
As Mr.. Keep is in the city, and can speak for HIM
self-moreOver as he saw the official " circular A" in
manuscript before it in print and in print before
it published, and it altered to conform to
suggestions made by him, prefer to wait for denial
over his own signature before consider it authentic.
The card alleges that the circular was Tot sane
toned by the Board"
Against this allegation produce the records of the
Company, as follows:
At meeting of Board of Director. of the Michigan
Southern and Northern Indiana Railroad Company held IN the
City Of New YoIk Avg 49, 49, present JG4n Wsn;on P5e'
field Elisha C. Lchfeld, Butler Ransom, Vernilye Cray
STRIKER and Keep the following resolution was adopted
THAT Committee Of five members consisting Of aesss
Edwin C. LitchGed Wilkinson, Wees Morrison aud Gray be
:eRea term. the Condition Of the Company. affair. ana the
special object. Of the proposed meeting on the f f
person BY proxy such meeting and that said Committee
prepare and forward stockhodeT' the proper form off PROXY
TO BE- used for sad meeting, and said Committee authorized
to take the steps to procure the necessary publication Of
AT an adjourned meeting held Aug r. pre.en: H. Ran.
President and Mes,' Edwin C. Ltehfsld s.Iyke Yer
milye Elisha Litcbied Gray Weles and Wilkinson, Mr.
Wees moved that Mr. S and Mr. Keep be added to the
Committee to address the stockholders, appointed Aug 49,
On motion Of MI stryte the resignation of Mr. Gray
member Of the Committee to address the stockholders wa'se
hereby certify the foregoing TO be true copy FROM the min
Mr. Barry present these meetings, nor did he
city until after the circular was in pint 1t pos
,be therefore that he did not know Of these proceedings
The Committee was to address the stockholders"
1t was not contemplated that any circular adopted by
the Committee shoud be submitted to the Board. II
was however read eight out ofthe thirteen directors,
and having beer approved by all the members of the
Committee, except Mr.. Wilkinson, who was absent,
the President of the Company applied to him by tel
egraph to know whether his name should be attached
to it whether il should be issued without his sig
rature After waiting some days without a reply, II
was Issued without his signature.
Stockholders judge whether the circular wa.
OF duly issued +" BY order of the Board
But if the circular like the card in question,
had been volunteered the members of the Committee
individuals show quite rs good title to advise the
tockholders Messrs. Barry, Wilkinson and Gray.
nj he's IF he
nected with the company for eight years past, and
some of them are now, and always have been, among
IFS largest stockholders. Mr.. Wilkinsons connection
with the Company dates from April 1850, and MIR.
Grays from April 1857 and the books show that for
long time past those gentlemen have each held pre-
csely fire shares of the stock of the Company and no
more. Accordingly, members OF the Committee ana
their friends in the Board having deep interest in
Tie road have honestly endeavored 10 sustain II during
the fierce onslaught which has been made upon il for
tine last few months and with this view they have
aided il by the pledge of their individual credit and
they stand at this moment, upon the aggregate as ac
cOmmOdaon indorsers upon near SOU wv OF its pa
per while Messrs Barry Wilkinson and Gray are not,
nor is either of them liable for the Company or for its
benefit to the extent Of a shilling.
concur in the belief expressed in the card that
change in the past policy of the management OF the
road is necessary and cordially unite IN the express
sion Of the hope that under the new direction howev
err it may be composed, the road will be operated
with wise economy and IFS finances judicously man
sged so as to restore that confidence IN Its securities
which has under the ruinous policy Of the past been
withdrawn from them by the public Justice, how:
ever TO all concerned demands that it should be stated
in this connection, that from April, 1855, to
9TH NAV. 1857, MIR. Wilkinson, as President,
had by the Bye-Lsws and Resolutions OF tho
Company almost absolute power over the road and us
operations and that from 9TH May to 3Oth june 1897
be was by special resolution, clothed with the same
authority as Vce.President. Fault found with the
management of the road during that time is therefore
fault found with himself twas during the same period
from October, 1855, to April, 1857 during all wfch
time was absent from the country, THAI the large
floating debt of the Company was created, amounting
at the latter period to over 800 ooo, ana wnlcA
has been the occasion Of its subsequent hnan,
cial troubles. And il will be remembered
that during most of this time the Company
had a Financial Committee, consisting OF Messts.
Hamilton, White Wilkinson, Stryker, Elisha Y.
Lchfeld and Hugh White, who were, by express reso-
luton charged with the full supervision and manage
ment of the Treasury and all the financial operations
"of the Company in the absence Of the Board. Dur
ing the same period from October 1855 to Apr 1891
most of the large expenditures upon boats amountngo
$500 900 or 5000, 600 was made or authorized. Whue
am prepared 10 take my full share of responsibility
fer every ect Of the Company authorized Whle was
here and with my sanction and cooperation, prefer
that for all thst done while was out OF the couu-
tJy the credit or the should be bestowed upon
those who were for the time in authority and therefore
alone responsible. . =.
neither seek nor desire personal controversy, but
7 could not avoid responding to the Gard OF Messrs
Barry wilkinson and Gray without seeming to rest
unoer the impuations therein contained 10 concln,
zion. borrow the language of the COMMITTEE aud
.sv that have no desire except 20 see this great
enterprise in friendly as well competent hands,