New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1859-09-23


Coupsu, va. largely indebted .nd they ~ere In the
eve of r,vel.. Executions were banging over the
road, .dy a. any momen. to be put any property
,h. nigh; be found unincumhered In Consequence OF
this the officers were q. all rmes resorng 70 evasive
expedieu,s 20 avoid sesure Wood vas not sold until
il vas on the .srd.r aud office furniture wss aeh In
the Of the officers that he business misa' 90 on
Bi5gee tracks, calverts, snd cross nes we're ou' .,
repair vito 70 stock " hand 10 repair. But emau
scou f the carr in order for use, and tue sup
ply Of along the hne was Tor ranning
ire usirs. The treasury, 700, Sas denu'e' ao' sige
bsspcss due for tickets sold to other eonpsniss
with shch they bad conescton. Moneys. TOO, we're
doe for engines and cars whlch had Deem parcnau on
copo'ouAl sale, aud which they were liable 20 aave
forfeited a. any moment by reason ct nonconp"snce
snh the CONDITIONS IN payment In TINS sxgency Toe
Pr rijeDt bad secured means his personal responsi
biliy, ,nd hal pa such srrearaaes az were i1pef@
tive Al q had .uch expenditures for repairs Is
were Ut svoi3abe This he nad been compelled 10 do,
or els. run sssy ard sb sndon the trust Tue indeb-
edrer paid ard the items purchased were specified IN
the statement i'll greater expenditures would have
to he usne to get the road rtrats Condition AMI
10 do this it wo1d be possible tina. the Company pay
any interest CD bonds for two years.
Various bopc holders questioned Mr.: Gnswold on
points Of bis statement with the view OF ectpg farther
bform ,fion. Daring this, Q request vas made that
Mr.. NuJd ck late Treasurer If the Company, give
sta Gu ept Of financial dton OF the Company In
Juoe las. THIS he promised to do 1t bore oat Mr..
Gri.wolos STATE mepts. .
NJ. RICHARDSON of. red series of resolutions, direct
ins TIE appointment Of Committee of eight who, with
the Pr. sdebt If the meeting were TO investigate the
aars of the Compare, and report a. an early dsy 70
a u &c il Of the bondholders with suggestions Tor 40
equitable adjustment OF the Different interests LII 'ne
road. 81,
Mr. RsdcEff Of Albany thought that the resolutions
did not go far enough 1t was ADMITTED tnat ue rns.
Morte age bondbodtrs secure, and vas not ngnt
tina, tey should essen this security lie thought tnat
the course TO be pursued for the hrst mortgage
bordboders to take proceedings Tor ofecosae; LUG
hnr hold a an
and the third If they pies the came IN their oenai
The sai,s woald tben be brought to condition Tor
adjustment. The sentiments were loudly appianded.
Mr. e. II. Roberts of Poaghkeepsle, moved series
Of resolutions favofing the action proposed by MI
Radclf
Mr. St. John advocated the first resolution, urging
that the suggestion of COMMITTEE vas the only one
upon which ell parties in interest would be LIKELY 70
uIre.
MIR. Tilsen OF New York opposed the action sug-
gested by Mr.. RadchG, and urged the taking o. imme
date me TO preserve the property One OF t~o
| plans must be adopted. They must either adopt
plan of capital zaton, which would reduce values to
.cse that would pay, according to the interests ct va
rious parties or they must leave all rights ssaodog as
they sere and in the letting each man come
n his tu' for bs equ able rights. He held that a.
the bcpdhodes were new 10 fact, the owners OF the
| road, it should be organized that they control IT,
Mr.. Hasey thought that il wa. high time the bond.
holders took their position. But he favored the hrst
| resolution. -
Mr.. Litchfeld, one of the Directors, read letter
from Mr. Sage Of Trey, who represented OF tue
| fret mott age bopds. Mr.. S. counseled moderation
aid opposed resort to extreme measures which he
thong xond operate nequtaby to the jdnior credit
| ore. Mr.. Ltchhelh indoIsed Mr.. Ssges opinion lie
81, Ike cleo high terms Of Mr. R.ynor aud the admin.
| ,sttai ion which preceded Mr.. Grswods which had
also assumed some responsibility in behalf Of the Con-
| pspy.
| mitee TO report in twenty days.
| Andrew Il. Green offered resolution requesting
lai dhoders to inform, by title or otherwise, the Pfes
d.Lt Of this meeting the amount and CLASS OF their
| bopds.
resolution of confidence in Mr.. Griswold was offered
| and adopted.
| lniob:
j G. Richardson, Judgs R.dcliff, Richard Irving,
Sir. Hawley, Charles Butler, Nm. ID. Thompson, ). j.
Tildep ard l.. N. Vsn Hoffman.
The meeting then adjourned.
There is fair demand at private sale for State and
| Goverrnien: stocks for banking purposes. We hear
of sales of coo NewYork 5s 1873, at l2, interest
| of, and some Government 5s, 1874 at lO3l. Mr..
Cisco finds fair inquiry for 81 y cent Treasury Notes
at par In the street all notes under y cent interest
are selling al Sun .l discount for CustomHouse pur.
| poser. Money is without change. The supply on
call 10 very abundant at sal cent. Frst-clsss pa
per continues to be in demand at 6a6i v cent due
this side Of January, and cent due in January and
February. Some of the banks taking outside lots
OF paper but generally tne wants OF tueH dealers are
ufi,ient to employ their fund.-.
The shipment Of specie next Saturday promises to
be very large The shipment this year is already S53,
7OO0 OO az ainst sl9, 900 time last year. and
s32 $50, 900 in 1867.
There has been more tone to the Dry Goods Market
since our last review, and prices fully estab
lisbed outstanding lees activity has been remarked
among the distributing houses. Some styles Of Do.
mtsiic Co tons which previously reported weak,
have settled doxn /. a lc. p yard below the highest
Spring rates while other styles have maintained their
full prices and more confidence in the future is mani
tested.
That Domestic goods could have maintained their
preseu. fInness under the depressing influence of
ba, kwsrd Westem trade in August, proves that,
pothw thstendipg the production Of goods during the
past year has been unpre cedented, the demand for
expectation and consumption has gradually kept pace
with The supply.
II the production Of loo ms s at preset moderate
az con pared With the requirements of the country the
same relation should be continued II has been so
often enHked that overproducton has been the
cause Of the depression Of manufacturers, that
have considered il an evil which could not be
died They bave supposed that We have larger
number Of looms than possibly be employed, and
that The interest i, extended that concert of ac-
ton amorg manufacturers is possible; but the events
Of the past year have proved the reverse.
On the first Wednts day in November the manufac.
turt from the various districts will meet this city
To adop' measures which may eventuate in the organ
izstion Of an association similar to that which has
operatsd for the Enolish