The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-03

a vewy rumereus meeting Of Ne boudhehev, MOOR
asaass and ,snds a ths ns Railroad took pasos -
u.son Hall, pursuant % Ne following CALL
ss-DIs q he View Scss and irs ss1osd Win b ssd s
ss,s s' s: ssi
: ws- Sss n . 1S;Gn's ofS:essy q s
; ySSs I =; SSSsIm
oomaitsee Of ssoek and boudholdera
M room WIS nlied 70 IL utmost capacity, and much
nsrsss manifested by al parties present, q IL WIS
prsssy well known that . loan was mot Immediately
rAhed the road was gone, and the bonds and stocks
wsrA nothing. Al nrt the speakers did not seem 70
zpne much confidence in the prospects OF the road An
cdrlops smile rom the old and knowing ones was 90.
.sonany provoked BY some Of the golden promises OF
whAs might yet be done by good Management and little
money The general tener Of the speeches the
y that which characterized the recent meeting the
subject in Broad street. Indeed the same facts and
asRuDents were reiter Ated,
Al O'Clock The meeting organized by calling 70 the
chair shepherd Knapp; Esq. Nj Charles A Peck was
sGmnAsed Secretary. but no not being present, NJ
OoDklin named lie declined the ground that he
had something 10 ray In debate M. Bovine then
me charm an then said that he was not fully aware OF
me Rsosa for Years. ana he naa never had
- Wing Of the ultimate re<ult, and prohAbeuess Of The
nsi,uuo nj. He believed ,,s sock, certain
3 much i all event. would 1i BE- Of som. value
tha there sh vitality in Is II the spark could only
keps alive He wished gentleman better acquant.
Cd With the objects Of the meeting would now address
Benjamin L-der. Esq then took the stand, and said
MAJ be iounc himie after four and half years absence
BE atpeed the meeting In sroad 2Sd ult
ssd be suggested 70 the president and drec-
son Tho proprissy Of osit,s 'ha pres.n. meeting
The for one, which many pers might have
rad though vas published in the papers. Mr. Loder
6es read the report published previously In the HHEAp
proceeded r. zith reference 70 he loan about 70
raised, thai the atee commended that tbs
sepesnoes OF the company should be received ut he
dwelt the importance OF the Erie road the great
west ircre ased, the road should keep pace with it,
Ne great hiso~Ay between The East and West rne only
holders aud ers making this loan promptly: and
could doubt that that loan could be raised stock
smiied at for saying that he believed il ths sub
srriptou vas raised, the rosd would be not only
ssan, d.y " would be Abe 70 eey 0u sm.il a.
vsdepd tie stock BE would not be here II ne did not
thtnk that by proper management the road wocld pay
Only three millions WAS required, and that, compared
With me value OF the road, very snall among
many The business Of the road had steadily increased
ia opening but reforms needed and the peo
pc preoSred for them: the President
directors. Fsres mutt be increased, and the
yeed ~as TOO great FER the rails aud equipments il
sho1id be decreased Mr. Loder thought vheu the
eondhooos in Earope OF The condition OF the
rad they would some forward with liberal SO descriptions
vbcp holding FIVE ten mi loss orth OF bonds
they would vorthless n the not relieved,
hey would perceive urgency of The thing which oauno:
be resited.
Mr.. IAre-, wrs the next speaker and he urged with
xrees vehemence and the pecesgig of
stockholders deter mining to give the loan hs very mis- ut
he wszrsd hem that II the CURED ykised
ne Ee Railroad rome, and the property they I'd in
lcs, they should have money 70 complete the ter
sniEus In jersey City Mr. Lashes changed me with
asemps cru,h III road and destroy iu President by
calling I'm outrageous and scsndslzing him They
wer. annoy ed at the abolition OF the dead head sytem
wb,cn ne he'd snd by which be saved The Comps
ny ar ady $50 to The speaker continued 10 argue hat
she road not nsolver and painted aaerirg picture
u what would be this loan only raised nteflard
ing his pictures occasonsy by vehement appeals
hgs and prophecies, oonseq uence Lis audience
obstinate he prsised Mr.. Moran. The Pfe,deEs,
worry highly; and recommended before the meeting
separated they would elect board OF directors for
she present could do no mere had no; been for
lev merchants and heir German friends Who ads inced
snail sums they could not have held ous so long He
sAd tha. he had small books ready 70 give 10 the audi
once that they might Gil Subscriptions nom tner
cnss II viii raise confidence outside the oondholders
snd stockholders showed that they willing sub
SCRIBE and he hoped they would forward and pa.
tAeir names down for subscriptions.
Mr.. CHAs MORAN then took the stand aud vas loudly
eAcered BE poEe with great confidence OF the future OF
road bat said the extension Of trade depended
1nhhipg the Ter minus IN jersey City. he sci. ut gre
psIh the value OF The local sc, stating thai from
The Item OF milk alone $4,000 had received las,
june From Penpsylvs oeas and dist,i
large trade expected. Ee had been offered . SON.
Pennsylvania the
q 900 year, but unless they enabled him 70 keep
ne road In psrecs condition he could not acoept be
sepounoed the stretched system OF economy By which
Quired = large rene cal fund 10 pu, them In order
afserwar,s The renewal fund was q fsacy. Il WAS
recassay Roads ko ~ed 10 Gel bad repair for
re purpose Of enabling directors 10 paw hgb dividends In
rder 20 raise the value OF stocks and )lsh
scheme q consolidation. BE warmly pressed upcn bis
audience the npcrst re rocessy Of raising money 81
ppce for the presoni money panic reached Elrcpe
and !, might would &c too late 70 make effort
A gent, saked Mr.. Moran what portion OF the re-
spu Of the road wa from freight, and what portion from
passengers.
NJ Norls raie he thought two hlrds was rom freight
Another sen,emsn ro,o in the centre o. the room and
lid that he had some time ago received order from
nean parties In Europe 10 investigate the condition OF The
Erie road and that he had travelled over every mile or Il
md made The closez nipaton Into itI working By
VARIOUS srsasems be acquired accurate inormagn and
pcouA eeps was loins on smosg The euplayecs. Mr.
koCAlun war trying 10 work The road a. 5iy per cent
while II plain II could not be done under slxty I've.
rnis he csu'e Of the uir management He WA s.is
Bed that with proper management would pay ten per
ycsr and he % reported 70 his friends IN Europc IL cor
sequence OF which they took STOCK 70 large rmouuL
loud applause be stated that he had 10 rgn. to pro
he woe authorized 70 maze the above statement
Crics o. "wbsfs The genitemsn's name arose ~ The
stranger sat down, 70 Which be ant sered-Wlismson.
Mr. Latter, then prolossa that committee cf
dred volunteer 70 take the ie books he had provided
aad collect subscriptions .nd that gentlemen should step
runs they intended 70 subscyibe he money uos
wanted nov, and hall The sassclir'on would be nSen
N unsecured bonds. With re'e.erCe 10 the chate
gags ~hicn Mr. Drew held he could explain better than
the President, that the company we're bound In OF
default 70 confess Judgment The directors GIT have
done wrsrk 10 mabiny mis- srrs-veneni tui hey had
done the road would have gone 10 protest last July
Re spnounood that $500 600 bad rosoy been raised
Ose gentleman, M 1selp, rave sTb 900. (Ar-
plsusc1 here seemed disposition rrst n form
me committee bu; one By one gcrilemsn came up and
fev put down their names for subscriptions Mr. Drew
put down bis psme for f25 ooo and the announcement
wa received win cheers 1ae following names
hen gven for the COMM tee and The collect IN books
Distributed amongst them = xssrr. liein, Cozzenr,
nayriei, Gouily, Pearson, Wbitevfght, W. J. SmlH,
Lacquer Trol man. Abcrtus, n Joncr, Stewart j.,
N. Van s,rcnrho.den, r. II. smith ~ A eastman, G. A.
Peck, George Bruce IN bank, Bell Hon. Desaeld,
and jacob Tle, NJ LILIES name uas received vito
verncrour applause snd Q voice asked, "any other dis
nnguished bears h.-et'
Inc chairman then 1upounced that the collection oon
nftke would meet Is Wen street, 10 day, at Boon, and
ss hoped that they would no De aie, oil tho roney
thsy could raise would be wanted {, make some heavy
psymens before pree ooock x1cn lsugbier-and re-