The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-08-15

We give below tho history Of The recent or over
isue d Aook By the ssove named railroad company.
ne cosrsspondenos sxhibis . man Of inooasaescaes
and contradictions seldom mss with In such simple ma.
tes;-
Iron the New York Herald, August 9, 1851
Al . hae hour ths afternoon we received information
nom entitled 70 the most implicit conn enoe, that
Michigan Soushern Railroad OoDpasy 70 the extent or
eleven thousand i've hundred shares or this eleven
thousand shares are ne Old common deiesd ssa svs
issues 10 ll60 0c0 O,her statements have come to our
knowledge in connection with this affair, which are 90
This over-ssue OF stock has been hypothe-
Gated 70 re money for the company and FOR the clique
Of speous.o who hare for some time past been esgssed
In eettR ~ sssner. The parties holding this rocx on
pohecg&ou h1we absoutey NO security u oil, for
has been Illegally issued and In case OF default ana
worthless Tho management of the Michigan S,uthern
Railroad Company appears to be above all Law and com
mon honesty. Happears TO be small matter for them
to ssue ten and fifteen thousand shares Of new stock In
this way the capital has been up since January last
nearly three millions Of dollars, and can tell where
will stop In February and March last 10 three distinct
ksues fifteen thousand shares OF new added TO
the previous amount and now In the first week OF August
we nave anGner ISSUE 81 eleven thousand nve
within period Of six months mis- Is independent or the
original guaranteed preferred. any organ Of this I'm
macuafe company attempts TO deny these Statements we
put those Interested In the way of asoertaning the
fact for themselves.
From the New York Herald, August 10, 1851
y charged
Michigan Southern Railroad Company the following cor
respondence 10 published:-
onic1 OF rm INVITED STATES Trust COMPANY,
NEW YORK, August 8, 1861 !
10 n HoPKNs, Treasurer Of the Michigan soutb ern
Railroad Company IT being stated in the HxRlD Of 70 day
that there has been new or over issue in the stock
Michigan Southern Railroad Company, We deem due to
the company and TO ourselves thai We should ask you
there IA been any issue of stock OF said Michigan south
Railroad Compsny since the 10th day Of July last the
certificate certificates for which have not been register
ed and oountergr cd as this ioe The numerous nquir
ihai we should receive an early reply.
Secretary Of the United States Trust Company
NEW York, August g. 1887.
DEAR Sn:-In answer to your note Of this morning,
have say that there bss been issue Of the stock OF this
company the 9th do, Of July last the ceYtdc
tesigped by Jour company And wish 70 add thst here
not now, ~ has beer, 70 my knowledge any
authorised illegal fraudulent or improper issue Of The
With respect, your obedient servant,
J. n hopkins, Treasurer.
JOHN A. sfIwARr, Egg sec U. s. Trust %.
The Coard Of Brokers appointed . committee 10 inquire
into the truth Of these charges of ISSUE the
following correspondents passed betw the committee
NEW YORK, August IL, 1857.
To THE PREpNr DIRECTORS rHH MICHIGAN SOUTHERN
AND NORTHERN INDIANA RAILROAD CoMPANY-
GKsTIxMKS-The undersigned have been appointed .
committee behalf Of TIE New York Stock Exchange 70
confer with your company on the moect Of issue, Of
These allegations have assumed definite shape, and
can no longer be regarded - anonymous.
naeSno,ns Iaom I'm s Lncuno'a sn.s
the opportunity 10 place this matter before you for such
scuon ~ you may ooem Proper, ana 70 ieques ns you
fscs in order that We may impaSt fully and understand
pgy TO our colleagues many OF whom holders Of the
ILL sr " your .vm
d. "A a , y0hNyoN'
ofn1 OF nn hicnGAS SOUTHERN AND NORTHERN
INDIANA RAILROAD 20, 10 wiulsm nfcet
NEW YORK, Aueun IL, 1857.
hears DAVID GRoEBScx, D. A. JoHssoS and A. CAMP
BELL, Committee. &o.:-
GrvIlxN-Your communication Of yesterday, stating
that You hsye been appointed committee In behalf Of the
New York stock Exchange 70 confer with this company
have been n.de informally has bean received and sub
mitseo 70 me boasa OF urecson.
made in the public press Of an Or sscres or
improper issue Of the stock Of this company:
100 '" 'H0 '~SS' W. ~'e suie' w w" JIMMY su'"
The authorized capital OF the company $l2 900 ooo
The amount actually Issued and sold, ~ shown BY our
90 0%o 49, a. no xoo
VI olo Oos,ovo
euaan'oso ssock ooih Zoo
No., 40 -. 80
IosA .oo
addition 70 the amount actually hsued 70 me public
u,% o "a ~ ~, nn,n r, ,nrn ~ - 49, 49,
manner . II IL UNFOLD bOuds-s collateral security
have beea tsy upon the book. Of ,acs hypoheosed Sc
cuiiues Nneuer "ock or osnas ou. inc securues tnem
wives nave not oeen oonsoerec or reported a. ouHtAnd
pe OF me Ior Ine reason nAs tney sere
mercy col NeIaI 70 Wner ovusssons, ~uico we're Aeo
unoer e nesa .,,, VI ,osns 10
nave reported IN Aa,uon 70 ois peyAoe tne sSock or
oonas oeonehe 70 ,ne company ana ooeed Vim 'oem ~
oosefh, ana " nsve c.Aueu ootn ~ ouSnndpg opnss
uons would have been toas respect 70 have ovenAed
INC sous naohses o. we company 70 tne iu amount on
'nr eolAe :, avs ~ qse . --,..
were appointed VINO maue luu eksmaAuons Oh tns pond
ana noch sooounu Inen Iepor., uAeo oen NAY ~,
ano nen GUY en.eIeo upon me orcoon minutes snoN s
mai ney iuly unoef"ooo me Of oonds AND SOCK
scoouns ., .nein " 70 ve ooIeSs a, -,..
. hessrs Keep "enes snu ermiye, tne Com nuee upon
inc e'oos ACCOUNT A'e, Ssnk ne smoun' oi s'ook Us
suea ana neia py s'ooAnoioers, aaoed'-
In addition to hts cert,csies for $50 shares N5
@ bsye been elesped by ne officers o. hs under
snIhoriy Q, ou'lons O IN. Sscnuve COMMITTEES OF Tue
20 loan, tor bs p,e ~ ss 0m 'ec'
These CERT 'ca,s are duy entered special account Of