The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-05
Meeting or the Bond and Stockholders 0fthe
Erie RullrOad.

adjourned meeting Of the directors bond stock
holders OF the IIie Ralroai held last evening the
lecture oi the Mercantile Library, Aston place
There pretty fair attendance, but not quite so large
the last meeting although the interest undated
Mr. Davis presided and Mr.. Brown ofcated secretary
The PRESIDENT opening the meeting stated the object
which had been called and which IS already taini-
Liar to reaGcrs.
Sir. DIaoN presented the following resolutions which
were adopted unanimously
Resolved, IN the Judgment Of tho bondho.dcrs and
stockholders Of the Vow York and Erie Railroad Company
that however much the embarrassment, ri the raoaa
interest, OF the country traceabe 10 the departure
from the paEet business principles the part vi many
corporation more OF that embarrassment is found in the
fact that passengers and freight have been transported
them al price less than would return .s interest
the capital invested after pay running expenses ami
keeping the road and property III condition As gooi a.
new.
Resolved Tha, this reduction in the rates Of transport
tcr both ireigh, ana passengers Is 'Tacea5e III part u
sound completion between r.roaos parallel though Doti
and distant from each other, chat in ,c property
l. made to compete against property, to the manifest IN
Ju. OF such property; but more = raceabe To the fact
thai the farming manufacturing ao commercial nterc is
q the country. through legislative au other means lie
nand in man, tanccs transport vi freight and pas
scngcrs below far anu reasonable remuneration loo the
service pcriorlncd and the eaptii invested
Resolved That though the boutholders and siockhoi-
ers OF the New York and Erie Railroad Company o
posed To high rate oi transit Tor irvght ani
vet they are IN favor OF the payment fair rates bcnev
ing that the former reduce revenue, while the latter SC
the largest revenue and also REASONABLE.
capital invested also the SAFETY vi lie ana
property.
Resolved That looking to the capital invested, all i'll
ter,sts are largely concerned III securing 10 ,r IN,
Some and that Gch an interest cannot DC cxngi!she
without injury to all others.
Resolved That ine property winch represents the stock
ana bonded interests - the United states railroads VIII
compare favoably with that Of any other country, With
a.cw exceptional cases.
Resolved That practically to carry out the views
bodied in these resolutions that tbs baltimore and ONO
railroad Company, the Penlsy Railroad Company,
She New York Central ana Iu.son River Railroad Com.
panes, be aca to meet the New iofk anu Eric Ionvcn
Moi,., the - la. VI December aud that IL i
suggested that executive officer anu two directors
from each vi THESE roads represent IA Cunyon.
ton and that through the President aud secretary t,
meeting, thcs Ice asked to meet, ieying the latter IT,
add such pcitncn, remarks Us uiy seem III aut proper
20 induce them In Join III said Convention.
The following resolution presented by ". Dsa,S,
and adopted alter btiei deCats.-
Resolved ~ the Stockholders AMI bo!hoIers of the
New York and Erie Railroad Company here assembled,
tina, committee OF nine be appointed, whose Auty 1t shall
De 10 convene the and ooh"hoacrsot the Now
York and Erie Railroad in the event 81 any plan being
suggested to increase IL soch, rs funded ~ hoahs debt,
beyond s.5oU1 over and above tie Issue now actually
made and that said committee DE and are hereby conSti
tutcd to all necessary vigilance, 20 guard against
new issues oi stock AID Lo..as, aso o any reduction o.
transit rates below paying point.
hesoircd, That the CHAIRMAN appoint sad committee @.
nine.
Captain Cnsiais H. MARSHALL, the chairman of III.
mittcc appointed at aotmer meeting to ralsc subscfip
lion. among tine Stockholders reported that the co;am
teen had been most active IN tueir oXtrt1as,
anu that their endcaycrs a. successful
as ought 10 he expected unicr the circumstance. rher.
man, who un;cr the pressure OF the times. hlt not
the means but those who had subscribed literally. lie
suggested that the stock book b. broIlt here aud that
the nainca the stockholders be- read that those
xho desired to subscribe might have chlncc Va do
announced AZ tins stage of the meeting that the
Parish estate had Just given their subscrip
ton OF 100000.
The following resolution presented by Mr. BRcoKs:-
Resolved That the committee be- continued IN
long there u. any prospect oi securing tue loan called
for rs th. directors at the company.
motion maGe 20 amend ths, by adding "and till
the road sh., pass into tho hands o. the receiver.
The amendment wa afterwards Withdrawn and the re
solution adopted without alteration.
The meet,ug then adjourned sIpc tic.
We understand that something over a mion has been
subscribed white the amount required 10 tar pro-
IL d ma