New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1859-02-18
TotAi 557,f30 IS sl9S5l1 fl,s92 f3 s.
As compared with the previous week, the .esal,s are


as foloss:
HIshsoss. cirsis:iOa- coh;
M'fs.1s F.. a. iss. 80. as d. ~, &C. ss
sosih-I-........... % oi9 lac Saj3 ma 2 10 ise
p0o me ,ooi dec S1Io loo'
S.Ats ........... +,il3 dc. ssS5 eec- 10 ~! inc
A Co.vertion Of oi:izens Of Aneg harry County. Pa,
in favor Of Iepuiis,irg The City of Pittsburgh snd
county bonds given in Dsymen, fJr railroad subscrp
tons, gas he'd 4 PixboJga On Tuesday, s.sa Wari
nd township being represented BY from fJur to ak
delegates The following rssolut' ns were sdop;ei;
Rssd Tia. we are osY.ed to any AK to pay ss pa
subscriptions eepy tho CT the municipal set onte'
make them ara Of he to .le.. - a.m % &c nj
witbou, The conseb; OF large m'Joy 81 the ppPe.
Ins sota. AT sod la, bb nv were .,u.d The noo.y
squsuoeres in eIlsvssAnee AID co I9pGSn, nc
sn ~oud bankrup. Muricp. CorPoraon cripple or
ensle. ,;ri.e death blow a. our prosperity and ruin pop
upon fo many Of them were parties 70 these frauds
We stated yesterday that it was proposed to rspa-
date some Of the Coving,on and Lexington Railroad
bonds. In regard to this The Cincinnati Gazette says
tia. tn. snsgers of tie Road desire to bs u1der.
stood as having nothing 20 do with the movement 70
which referred yesterday. The contest against TIE
fret and second mortgage oondholders Is TO be carried
Oh by the representatives. Of inferior securea sni IN
justification of the action OF these parties it calmef
that the second mort gage bondhoders nave been IA
reasonable in their propositions looking TO 60 npr9-
nise ana the that has been deemed advisable
10 ADOPT became eces.ary in order 10 prevent the H.
teres,s Of the holders Of the third mortgage sni income
bonds from being sacrificed In this there IL ably
truth; but the tecs, we have reason TO believe,
are gresiy exaggerated. There may be some among
the second mortgage bondho1ers that would not b.
satisfied with any thing short Of the hons share; hat
the maony of them are reasonable men, who SO'd
rot rush into tedious and expensive controversy
Their rie hts can be secured IN any other way.
h., IN ha Efaf mort
claimed that while the charter provided tha. before
issuing the bonds, the question shoui htst ne SUD
mited TO the stockholders, this important provision
wss not carried out There is nothing to be found in
the records OF the Company, It Is said, showing thai
such vote was taken or that the action OF the d..
rectors in issuing the boz ds reported 10 the
stockholders for approval or rejection. worse
butder still committed with the second morg .ge
The Legislature authorized the ssne OF hal million
secord mortgage bonds, to bear 4 cen. e annum,
and not 10 be sold for lees than par. The Company,
seemingly regardless of the terms OF the rot, issded
gre ater amount than half million, and sold them at
considerable discount. This was discovered by
the holders cf the bonds asd Mr.. Wnsow, the trus-
tee in about year after the securities were issued,
procured the passage Of bill 10y the Leg stature con-
fImpg the action Of the Directors of toe Comp any,
Now the question is whether this retroactive measure
was constitutional. Upon this point lawyers differ;
but Il act having been passed before the t1iri mort
gase bonds we're Issued AID the existence of the sec
oDd having been mentioned in the third, II IS not PROB
beDe fl Of the third.
However, it is pretty cesr that, unless matters
are compromised, points enough have been area'y
raised 10 keep the case in Court for at least i've years
Meantime, the Road must depreciate in value and,
between the loss Of property this way and the costs
attending the legal controversy, the creditors, IN
body will be very apt to come out Of the little end OF
the horn."
The eleventh annual report of the Cleveland and
Pittsburgh Railroad Company has just been distributed.
TIE Directors, on assuming the management of the
road at the commencement Of the year, found the
affairs of the Company under more than common EN-
barsssment, sDd their attention was turned to meas
ues for its eItication. Some Of the debts were OF
character witch required immediate adjustment, and
the policy Of the Board has been TO pay off their sbil
tiles as rapidly possible. This course has been pur'
sued notwithstanding thIeSts Of foreclosure and conn.,
dent predictions that the road would pass into the
hsrds Of the bondholders. The result has been sst
fsctory-back expenses have been psd up, and the
mortgage interest due at the commencement Of the
year has been paid as fsr has been presented, 81
well as the principal part Of the mortgage interest for
the current year.
The annual report of the General Superintendent
presents the results Of the working Of toe roc, 5urrg
the yesr, from which il appears that there were
Receip's from iis "
Receipts from S2!o 50
Receip:. sm nall, sxpe", rents So.......... AIa u
s772 90 So
The total eos Of operation iis9) SO
Net earnings s5j2t3 e.
The ratio of the cost of operation 10 which is in.
oudet repairs of locomotives and cars repairs OF the
road and bridges, the renewal of the track, loss and
damage, insurance taxes and salaries, as well all
the other items usually comprehended in working
penses, i. is thus seen, ia u cent Of the gros,
csipts.
The earnings for the year ending Nov. 80 1857,
T7j9s2t 20
The .SIeLses Of operating 4i's57 10
Net .s5, ,iI Is
The ipcrtse in earnings in ls5a those Ofla57,
h' therefore been $5@les ~
Net increase sl26 el
The number of miles run in 1871, was 5l5 500. The
number Of miles ron in 1853, was 646 4l3. So, tbst
while the mileage hss been increased - T. cent, the
expenses of operating ore slightly reduced.
During the year there has been collision ard no
loss of life, or injury to passengers.
The total expenditure for the construction and equip
ment of the rosd udipg payments for right Of way,
as appears from the books Of the Company,
FoG Telegraph Line personal properly ke.... s5Os5 81
Assets Beaver Co. Bond: Ell 80 q
bls Teceiyso I.sJl %
Mast lon Bank 52Is 90
Cash i215i II
Fuel on observation-disclosures. $3.50 SO
Personal -
To;Al................. sl75.7se o.
Directions have been sver charge this item TO cosrue-
tior account
The following accounts are on the ledger bu: will be
charged to other accounts when settlement s effected
With the o. L. l. and TT. Co., and c. W. Rockwell.
Besyer Co Bor5s..... 1900 90
Whet hot City boncA 4D %
AL. tkAsy Co. 1000 20
q. L. and Trust Co. I4Cst %