Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1859-08-09

ties Of French light wines, and on other french
articles, which would do much to augment the
trade and intercourse between the two coun'
tries. and thus add new incentives to the pre-
servation of peace between the two great ma
tions. and, in the perpetuation of which the III
forests of the civilized world and the progress
of mankind, everywhere, were involved. Lord
John Russell, while manifesting a friendly feel
inc for France and her Emperor, and DESTROYS,
az Inc was. of seeing the peace of Europe pre-
served. did not see the policy, at present OF
rcla vino those measures Of national defence, by
land and sea, which had been entered upon
bv bis PREDECESSORS. The debate, taken alto
ether. was an able one, and was important as
! i reshadowcd the feelings and views oil The
leaders in the British House of Commons on
the present state Of Europe.
The rumor that Mr.. Golden was to have re,
ceived the appointmcnt of Governor-Generai oil
Canada has been contradlctcd.
The event Of the week in Wall street mas
been the eliminating crisis in the New 1orN
and Erie Railroad. The Sinking Fund bond
holders not receiving the interest on them,
commenced suit against the road, and on last
Thursday obtained judgment against II LOT
500. 600. Other suits by hondholderS are also
pending against it. An execution was lssued,
On the eth instant, against the road Oh the hr>t
Judgment. The bondholderS came To an I'M
der,tanding 10 take measures for the protection
Of the road. and applied to the court to have q
rn.c;yrr amounted, in order that their interest
might he guarded. The request has been com
Piled with. and in NO or three weeks tihe' II
Is supposed. that one will be dulx appolnteu'
who will be able 10 1--WE The necessary St
curitv. The stock. Yesterday opened at / Gus
On ,bc dollar and closed 1T } cents. II has
been proposed by some OF the stockholders 10
bring about an entire new organization OF Tue
company. probably, with the view OF reducing
the capital stock 10 onc-lalfor less, onwiich the
road might possibly be made to pay something
besides the interest, on its large bonded debts
and thus leave = small per centagc to us stock
holders. This is the only course lett to them:
! because half a loaf is better than no bread.
The Board of Directors met YESTERDAY, but
! rs 4 full quorum was not present, they did III
tie beyond adopting i resolution in favor oil
reducing the salary Of their President from
$2j. 900 per annum to 5000. some were III
hopes that this measure would lead TO his vo'
luntary retirement. but 50 far. no symptoms TO
that effect have appeared. FOR two years or
more this Executive officer has received
! So. oiO per annum for his services to a road
! who's, cyocnses were continually in excess OF
is earnings. and the end of which could only
b., rain to its stockholders. Now. when the
road, nv the force OF law, is about to pass from
the hands of the Directors. aud Mr.. Morans
iuncr,nns about TO he iOrclbly terminated 10y
the bond.hollc:s. they. at the last moment, rs
i; were. meet and resolve 10 reduce his wages
10 g. 900 per wear. What 4 bold stroke al
, timely economy. How gratitied the ruined
stockholders should feel for the careful deyo-
ton 10 their interest:
The history Of the New York and Eric Rail
road * one of the most remarkable character.
Wit! one single exception, that OF the ILLINOIS,
Cru,ral. it is the longest, under 4 single corpo-
|, ration. to he found in America. The Illinois
/, Central. with its branches, Is 1oi miles. while
the Erie ard branches reach 81 miles, the
main ,;e,n being ig6 miles. The terminus oi
the road 1T first, was fixed at Piernont, some
% l., 81 mile. above New York. on tie west
bank Of the Hudson. where one of lis PRINCIPAL
! HER had Specuiatcl largely in real estate
When il had gone not much further than
Oraacc county its funds were exhausted, ana
the prosecution Of the road suspended. New
subscriptions were finally taken up, and the
work resumed; and, finally, at AL immense
and reckless cost, completed 10 DuIHirk. -
The balance sheet. published on the son OF
September. ISIS. showed that the road had
cost $3?.0rg, UeG, or for the single tract the
enormous sum Of i5l,l,5 per mile, or about
S1U.roo per mile on the double track. The capital
stock gil 9oo,o'o
Enud,d debt -, 900, 900
Floating debts ............. l,'O"Ooo