New-York daily tribune., 1858-11-16

The estimate, II Will be seen 10 thr enncAeu io'-
ter. efirgs the resrt TO a much finer point:
OFFICE OF TIE GALEsA AsD CHICAGO CsToN)
RAILROAD CoNPksT,
CHICAGO, Nov. IL, 1858. }
To the E1i,ors eJ The Teening POg;
In your issue OF the 5h instant under the head OF
Finance and Trade, there appears communica-
tiop which you say is from reliable source, com,
menting upon the affairs and policy OF the Galena and
Chicago Union Railroad Company, and upon my con-
nection with said Company, which, if unnoticed by
me- might lead stockholders and the public to erro'
neous conclusions to the prospects OF this Company
as understand them, and the propriey Of my action
in ten iering my resignation as President.
| have not from the time entered upon the con-
struction of this road in ls4s permitted myself to
speculate by the sale purchase of its stocks at the
Sock Board or elsewhere. l have been a holder,
s.sny mos: Of ae s Taeh Ba,s s' hos not
owed directly Indirectly lands town sites or lots en-
the ns Of the Toaa OF al hs 81 ~ s Inn o 10
pots held the ofce Of President cr tie Of the
salary paid NE now directly indirectly. conuected
interested in the operations Of any clique In Chicago
or eewtee whose reported time may result
f.vorsbly a, they hoped for any other purpose
Myri and sold larger portion Of stock in
this COMPANY fo cash since the Oh Of October last which
time lin ny opnion) sbsract mPracticabe p0cy which
has borne upon the Company for the Pas; year has reached is
climax.
.old this stock with intention Of sain investing in
security which believed to be controlled By
clques of mere speculstors.
1t stre that the great amount OF capital in this country
invested in railroad stocks ara bonds densnde in
that tO 10 shsres OF the stock oi tins Com
pany shcu b. purchssed BY Clique in Newfort within
shoft tine previous 20 5 of as defeat
wh deem ed vital 10 the future prospects OF this Com
psy which every Board of Directors had unanimously
sanctioned the records will show from ls5S % the 9th Ooto
br last or purpose sdmonishing and other railroad
that hereafter to col sder ourselves as the
plant tools Of whsever ehlus or theorists may be IL ne
scendency temporarily Of the many that
have bee committed the Es,. well the West, BY
aid lines branch roads the sacrifice OF
hitherto reliable stock however noryins may be 20
mel perspr too great for The public good If the move
effects tue desired reformation in railroad nan.ser
beg reable spondent that after
experience President of this Company haf
suppose that stockholders entertained any ars
scupulous than myself" II not associated with board
cautious economical and conservative IL
spy Of the stockhod.rs at annual election ot cectors
the conpsny organized But after full reflection
and in view OF eli the circumstances connected with the vote Of
the October last. judgment juses In the disposal
Preside 1T Of this and have not found any reliable
who upde rssnd the practical effects OF this
which suicidal ,hal be- abandoned in time to
remedy the and prospective evil eonsequences
shall cheerfuy retire when successor shall be found by
the Board who will b., doubtless quite capable" TO hl my
place. who have fears Of the effect OF the
policy adopted by the stockholders es myself
Your reliable correspondent" endesvors TO account for the
e1taordnsry falling OF in earnings wholly BY the depression OF
business at the West aud EorthWest To this very
Of the be truly attributed bu. in
portion Of il is due the effects of policy which
heretofore controlled extent and which when
results doing nothing beyond lines
10 induce business that VIII Increase net revenue.
Your reable source" has given figures to show TO
scohhoder and others who may BE- induced purchase stock
"a portion VI the IS shares perhsps that they rely upon
v cent dividend In February will hereto subjoin
figures hch reliable TO the s Of November and
10 Feb that he and others understand according
best judgment what dividend Stockholders may rely
in February next
S,rtlus In cash after paving Angus. dividend