New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1859-05-30
the respective dates :

We were somewhat surprised at the result OF the
La Crosse Railroad election, as teegraphed, not sup
posing that the stockholders could be induced to pu.
tue ruad into the hands Of Judgment creditor uuder
a doubtful claim, but as the matter s explained
us, il appears that Mr.. Mitchell, who received
proxies ON Eastern stockholders, under and by al
vice of counsel, declined 10 vote, as the ROAD had
been sold ont on Saturday, the ?lst INST, aud new
Company organized under the foreclosure by the
third mortgage boniholders. Mr.. Cleveland, how
ever voted for nine Directors only two of the num-
Der being stockholders; the other seven beiog in
eligible, there was no election, which will leave the
settling up of the business affairs of the Company
in the hands of the old Board. The purchasers of
the La Crosse and Milwaukee Railroad, under the
foreclosure by the THIRD Mortgage bondboders,
gained the 25d May instant, pursuant TO the laws
OF the State OF Wisconsin, and adopted the Of
the Milwaukee and Minnesota Railroad Company,
and elected the following Directors;
liam Could Albany. N Y; 81 Gils-rt. syrscuse N l.;
HAS croc.,r Mlwsus.e. W.; n; J. E@mon.. Milssatee
Wis J.. w Wrris, Niwsgscs, Via; W. r. Smith, Fox
LAKE, Wis Wm. X. Sill Is C!0sse, Wis
At a subsequent meeting of the Directors, Russell
Sage was chosen President. In regard 10 this road
The MlrGHkec Fee Democrat saws:
ala Crosse i desd. The La Crosse and Miwau-
kee Railroad Company, after career nap lrallerd in
at last expired having been sold ou: under the third
mortgage. and bid 10 By William Barnes, the irnstee
for the bOndhOldes, al the Of 81 5.S, S3, %, in
pursuance Of act of tAe Legss,ee passed for this
purpose at the aS session. We regret that the stock
ho,ders are thus compelled 70 lose their stock but
and tbs; the largest share Of il has been par hased
by isukers aud socalatnrs &. less than cent, at
mere ucninal prices. The sacrifice Of stock To the
large amount OF mortgage and floating debt has long
been aE unavoidable necessity end ory question Of
time. The old corporation has been, ready, diving
ever sine the reyulson of ISL and It's decsyng car
case had become stencil the nostrls of the people
and the Sts1e Will rejoice Ia it deceny buried.
Il was born feet furemost-la Crosse aud NJ aukce
should have been Milwaukee and la Crosse; cruel
fate and unfortunate destiny has pursued il from
tiyiy We do not propose 20 accuse or retive memo-
RES Of the paS-lct the deed past bury its Il sd.
RoqRicsoa' IN pace. But hope and trust that the
reorganz Of this Company solid, living ard
basis will dlGuse lie beneficial and revlving
the whole Stste ana restore confidence
in the railroad management ii the whole Northwest.
We are glsd to that the Old has been buried
With the cid corporation.
NJ Barnes the purchaser, and the Third Mortgage
BoDdlcl0ers Yesterday organized new company az
.rdpg TO the laws Of this state aId fled their char
cr at lIafsor under the corporate name Of the Mil
ga. kee and Minnesota Railrosd Company, and elect
4 Board Of DIRECTORS whose names appear else
5 here.
We hope that some mutually satisfactory arrange |
men. cap be made with M Chamberlain, the lessee,