New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-09-24
:, .. oo.s.,, W To evD., Of Tie 'aAs~ins properly

AIM sDd ssms receivable .:.......;..,;.:: oh"' .
Aaa ths: there due from supe''ot ndcnt'
NeDts, oa,hsTs So..''.''..''''''''''''''
II .s1al,I57 Sc
Tee. .sesie have been podSced sonAy examined
ss.. seSsnn,s the vsriou. stocks and bonds exca: tse
Coca 81 this Company charged At the values at which they
sr wcsas sp % 20 sSoSt to mion.
these seear,ies were now al 400 ana Asausoe is Jan
Ccmpay fom all embarrassment account Of e. hoins
Sbt III, while some these securities good AMI others
- SSprsss,d SsUs and portion d them ucry vaaec-
them the market 81 TIE pree ny
s -1.s ,y dseSs ssT s s.' i by
nns.r,isEed think correctly that time could Dc sh
sS.sse ss.i. Of credit wSh weaI discharge the p,s.eL'
seSsa 70 JonaiSas a. R.h.on VIM H. VeH,oa and Nm
Wele. as Trustees, the most valsec o. lssc nr .,
have oo. the Company eooo Tor ts9 E[g,: S 81
having such securities converted INTO es.h a -
by the Company and made redecmable July loo ..u
It's believed that these bonds resting 'Ul to.5 ~ T
~ss With ample time given convert !, Toto 9oney at more
ssS.s Of ,Ss Company to pay lnoty , IL no.
Lon awaits o. ibss secls TIE sa@ o. lS. s1
such bOpd long they can De cD;.ned y OF nRoet &
soed furnish az Sm0s Term. 20 10 v tho
you'd protect thei own property DJ r.sYns .ro no bI%
o. Loss growing out q the TRANSACTION. But lo The stock
Aoldes say whether these meas shall Dc sdoP 80 en-
skhcrs shall be devised TO proiee. TIER in'ee " leo ''1
TSu,h no. strictly within the limits Of the authority con-
SnsS b The resolution the undesned think it their duty 20
saw so in hs opinion operating Of the rod
.iDed unnecessarily and eztrsTsAny large and ought to be
pTas ssnss o the road were during the last ys
>.sr BY the book. s27sP &c. Notwthsndirg the present
ia A. bsn ss ,hnr Ia mos. Of the Western roads
s~rs is believe Tat the earnings Of tho presently ear
rns expenses Of to- road shall reduced 70 50 per cen;
III esrnIs &c IN the JadsIss o e oa BE-
ample liberal d dend, .. the 0cs ssT Payh5
al iss interest the debt the floating USo' nan h O0
exthIgushed fSnded r. -
due % the Directors and officers Of he Company 70 J
1het every facility has been afforded 20 the UNDERSIGNED
make f and exeuinstion There has oeeo no az
at e. ssss Ss' se d by III
signed IN resard all the items continuing the several so
10 be- limited ty language the resolution under whca
II. + Pa Se a is " s
The hope will not be oat OF place y say tns ~
~ Compsns unde rssned sonvered tnst there
and IN Sp'5s sr ss
R.rieDce concerned in the Railroad Of he
ssfy Of the property Of tockdr and it certain that this
byo an s1o.Poo more S %
employed mat be greatly and promptly reduced me ns Q,
the he da S Of The popcrts TO economy
ce and 70 the real necessities Of the public hthe present
:.oehboleIs .eI PAYING esPsn they n%.t oS .
yapseeDts shall protect the interests Of oil with such
changes and With risid and careful supervision ote road ia
with unity and cordial cooperation In It's
AsssepsDt there be no doubt but the wiz
desirable investment Without all these no road Gun long be
I.Iuun, rstve.
II k generally misfortune Of corporate property 70 be
sansed with wachunes and care than individual wealth
And Il the multitude aud rapid H.
Of Interests in this country there have grown
and Increased prodgsy
ofe much from
tiona Of the of stockholders from
with extent Of in the enter
prizes undertaken Experience has shown that the Proh;s
Of railroads been altogether estimated we can bhrd
lessons learning; II
check the speculative spirit which often
the construction Of railroads they NOT needed
sha economical management OF those that
preston Of Railroad securities depsrabe It's consequences
be- will have proved the whole 10 be
most substantial benefit 10 the ceuntry. -
The undersigned believe the Michigan Southern and North
ern IL RsiGsd be- from its location aud connections
valuable in the country Running on the
s desirable between growing West aad the
great market oy OF the kss cannot fail to command aud
in the preference of that nmeusv thonB which crowds
public between those portions Of tho country
Tbee the OF travel aud height may be
taiy checked by the Parayzng effect OF general
snod IL a recovery such depression aud with what in
the business interests Of the country
sprps life More especially will this be so over the
Of between pOints indicated;
ions as crowd the West bring into
exepce States filled with and enterprise aud
drawing their foreign supplies from the cities OF the
East sending hor the immense surplus produs OF the
West mautaibtg the Intercourse Indispensable - such
relations Just long will the means increase and IN the same
proportion, by which the road may bs supported:
mailing road successful
pubic enterprise and profitable to the stocAhode shan be-
fully realized win Judgment depend the
ckhode tkescyes and upon the wisdom with which they
shall act giving proper direction 10 its affairs.
All Of which ID respectfully submitted ...
JOHN G. WRIGHT.
kere- York, Sep. II, 1857. JOHN MAGEE
GENERAL STATEMENT
~ ID M mn.