The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-06-30

10
We presume tina. the proposal to lease the Erie Rail
road, which was noned In this column this morning,
viii not meet with favor from the company. 1t seems
arrangement making over control Of the road to other
parties, without providing for the interest on all the
bonds. Nor shown what is 10 protect the essees
nom ejecment in the event Of suits being brought
agarst the property overdue coupons. The stock
holders, who control the property, have still less
reason TO lease the the terms proposed Az mat
stand, there is possibility that the revival OF bust
ness may enable the road TO pay all its interest and
triAe on the stock The proposed arrangement would
practically wipe the stock out OF existence for the present
BY what the propoeed essees intend 10 say the
company that the road would be kept In repair during
their lease, not informed. II Ia difficult 10
ceive any bargain on this point which would not
be certain TO lead To litigation. We have expressed
the opinion more than that the only course for
the Erie Company, they cannot gain delay from their
CREDITORS to let the law take it's course, and to reorg
nze the property new basis; any makeshfts in the
shape OF leases will be likely 10 render the nA end
Injurious to al parties concerned.
The following dividends have been The New
Amsterdam Fire Insurance Company zemi annual divi
dend Of eight per cent payable July l. the Peoples Fire
Insurance Company semi annual dividend Of six per
cent, pabable July 9; the Commonwealth Bank, semi
annual dividend Of three and half per cent payable July
j. the Emgrazs' Industrial Savings Bank, dividend At
the rate Of I've per cent per Of $500 and
under and at the rate Of five per per larger
sums, payable July 49, the Middletown {Conn) Bank,
Semi annual dividend Of four per cont payable July g.
Mddesex County Bank Of Middletown, Conn, semtan
nual dividend Of four per cent, payable July 8.
The annual meeting Of the stockholders Of the Chicago
Burlington and Quincy Railroad Company was held in
Chicago on Friday Last and the following Board Of Dir
tors chosenJohn Van NORWICH Batavia. ILL., Chaunoey
s. Cotton, Galesburg, Ill Isaac q. Barch Chicago; Jas.
=. Joy, Detroit; Ersstus Corning, Albany; Edward c
Baker, New Bedford, Mars; John n. Forbes, John W.
Brooks, Samuel r. spinney, Robert Watson, William
Boot, Boston.
The first meeting Of the Board takes place in Boston
during the ensuing month.
The directors Of the Little Miami Railroad in the early
four per cent which payable and after the 1ath
init This road s among the few at the West which have
not dollar Of floating debt is well and economically
managed, and has increased Its earnings monthly
those Of the previous year. Besides paying dividends,
has also materially increased It's surplus or reserved
funds.
Central road held in Detroit Mnna"y inV4aias,
Inc ensuing year
J. W. Brooks. Boston. Msss; John " Forbes, Boston,
Macs; ID. d. Williamson, New York; Erastus Corn,n e.
Albany, ~ Y; Edward Mniuru, Ne York; r. B. Forbes
Boston, Macs a. a Hunnewel, Boston. Mass; Nstha
pei Thayer, Boston, Mass; Elon Faruswortn, Detroit.
Mich.
The present executive officers Of the road were re
ed by the Board.