New-York daily tribune., 1857-10-22
DELAWARE, LACKAWANYA AND WEST
ERN RAfLPOAD.
BONDHOLDERy AND STOCKHOLDERS
MEETING

A meeting Of bordhoders, stockholders and cred
iors Of tie Delswsre. LsckawsnIa and Western Rsil
read was held last evening al Clinton Hell. Aseos
pace, fer the purpose Of hesrirg the report Of .
Special Committee sppoibted BY stookholdeu sal
bepdbolder. on the 26 al to confer with the mana.
gers Of the said Company and devse plso to relieve
ibe Con psny from its present endorsements.
The meeting was very numerously attended, aaa
the beet spirit prevailed.
TIE Committee set forth 10 their report their cooa.
dence in tie uts'e Of the road that 10
il be reli. vad from lis presen irdebednss viii
soon become excellent paying road; that its bsai-
ness had largely increased and durirg tho month
Of September when such g general staguatioo pre-
vsed the receipts Of the road were greater than q
ary former correspor ding period that the road vas n
COED COT differ, snc TIE Company was now prepared
10 Transport tC0 tups of coal PER day that the bua.
rsss of transporting coal slone bad increased from
1903 93i TINS in 1853 to 276 220 fups 10 1856.
TIE Committee, after ccnterer ce with the usn-
seer OF the read ard thorough inveshg N into is
afisns, reecma ended
FUsfy. That The steckholdsrs be required to pay
ten per cent The value of he respective ebares il
cash potss der half Of their stock, and
For such contributors in cash or notes she Company
to give per cent ircome brds pay able in ten wears.
Secondly That TIE stockholders of the WIrse nrs
Rsiltoao Company be required TO surrender $O0 oO0.
or 25 cent Of their stock In that road.
Thirdly That the Cayuga and Su,quehsnns Raj.
road Con parry be nQured 10 reduce the amount Ad
to The FOR the Of the road from so 900 to SIS
per srpum.
FSwthIy; That the fret mortgage boudhoders bs
required 10 take ibe income bonds of the Company,
pay able in Eve years for years interest on them
bonds ard that the seccnd mortssge boodhcidsvs
take the income bords of the Company payable N
five years, for two yeats interest on the bords.
Piftliv Tha. the creditors who have no security
escept the employees the line Of the road or at the
mires) ,tke the cor vertsbe income bonds OF tho
Company at yesrs in payment Of their respective
C ams ard those who have security on the rolling
stock Of the road to take notes Of The Company pay
able at lCpP dsfes.
Messrs. s. II CHITTrNDES, WV. f. DopaE. jobs
J. PHELPS JOIN j. BLAIR, J. B WILLIAMS aod
THos TILEsToN also the Rev. Mr. HyGAssxr. sd
dressed tie meeting in favor of adopting the report o.
the Committee, ard sustaining the Company. Their
remaks enthusiastically received, and reep snd
std 10 by very lsrge proportion OF those preeens
subscribirg their psmes to advance the r.qu'rea
smourt Of 10 per cent The greatest uuanlmity per-
vaded the whole proceedings, ard the mspager 81
the road derived fresh coursge from the lberahfy
manifested, to hope that they will be shortly re-
Iieved from their present embarrassment. Com
mrtee Of Influential gentlemen was sppoiuted to
wait upon those stock tolders. &c, who were noe
represented at the meeting to get them to subscribe
10 the srar gene Ut proposed by the Committee.