New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1858-01-28
sEw.YoRK CENTRAL gAILR DAD.

To tas Editor u The ~ Y. Tribune
Sir: have read Mr.. COrnng's letter to the Stock
holders of this corporation with interest and con-
siderable disappointment. have been interested in
the skill and ability with which the writer slides over
some important features Of the report. ] am disap-
pointed that the first officer of this corporation should
make O reply 10 a Committee OF Stockholders in rela-
lion TO its management, without fully and fairly meet
ing and explaining all the points presented by their
yeport. There is entire silence in this letter IN
regard the large deposit in the Oliver Lee Bank, as
well the attempted loan of fifty Thousand dollars to
the Quincy and Palmyra Railroad. He has not at
fsmpied 20 explain the apparently tyrannca and un-
warrantabe removal from the late Board OF Mr..
Fled of Rochester and Mr. Sage OF Troy, Doth able
and experienced Directors.
He has devoted much space to an explanation OF
the conference between himself and the Committee,
With but little effect except that has gwen hun an
opportunity to sarcasticay aunt them whtheir want
or power In regarn TO the election. lie lays great
stress upon the omission of the COMMITTEE 10 meet MN
NJ the Companys Office at O'Clock on the day OF the
election. Now, any one who knows anything about
the election knows that this omission was OF no con-
sequence whatever Al the stockholners VINO Geteu
in the meeting at the City Hall appeared al the Com
psny's Office where the election was held more than
hall an hour before the ticket made by Mr.. Corning
was presented If he had had the least disposition 10
xncoinrnodate matters TO meet the wishes and views
OF thoee stockholders he could easily have done 90
After his ticket was printed most OF the stockholders
who SUPPORTED the New-York nominations did 20 by
srssing four of the printed names IN MI forming
The movement on the part OF stOckhO!dels al IlelI
meeting in New-York and Albany was INTENDED 10
rouse the minds of stock hOlders, 10 an observation
fbe manner in which their property had heen anu wa
MANAGED by those TO whose care they had Entrusted
IL The movement was not dictated I'D spirit Oh nos
fity 10 the present managers, or WIN desire Oh Ie
part Of any one TO remove them IRON ther POSITIONS;
II was thought that If stockholders generally "Ouiu
EXHIBIT an interest in the elections sufficient 10 cast
their votes in person, withhold their proxies IOh
interested managers would be the means OF securing
a Board each member OF which would ieel himself 10
be the representative Of the stockholders themselves.
HoveyeTmuch the President may conte mn TINS move
meu. a. proceeding from IN anonymous cali, ne VIII
end that il is predicated in reason and dictated oy
entire propriety in relation 20 the rights OF the
stockholders generally. Any one who is acquainted
with the management OF the New-1Ork central,
Knows that several Of It's managers have Vast interests
outside the corporation altogether paramount TO any IN
terest they may have the OF the Company Many
Of those Interests are complicated and would not be
surprising If some OF them should be found not exactly
conc ding with the true interests OF the corporation
To concentrate the power OF elections ID the hanus I"
such men far from wise To allow them thai power
10 an extent which would enable them to render the
other members of the Board dependent upon them -
neither wise in regard to the mensgeI1ent 9i ,ler
orr The temptation 70 abuse such power Is too
great TO warrant its being conferred upon any ndl-
yidaal, however upright he may be-
II il the undoubed right Of the stakeholder, so long
n proxy voting il allowable to confer the power upon
ANY one he may choose. He should, however, at all
times act understandingy and confer the power upon
one who will exercise IL IN such matter as will best
comport with his wishes. All stockholders should
ne lar as possible attend the ele ;tions ~ person
When this cannot be done, II would be well for them
10 select some confidential and upright neghbor not
DESTROYS Of eeetng himself 10 attend the election Tor
them.
With view 10 facilitate as large personal attend
apce a. possible, can objection 10 authorizing
such az may desire 10 pass free TO aud from the cleo
ton Such practice formerly existed upon several Of
the western roads in the line, and / could never see
any good reason for sbolishing it. STocKHoLDER