The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-10-12
FEW YORK AND ERIE RAILROAD.
election Of Directors for the Ensuing
y..r-Def.at Of the Now Movement.


ES,ection OF Directors for the Ensuing
v..-DeSrat Of the New Movement.
~, ,,n,,y If No As Wall street, the office of the New
w. ana ERIE Railroad Company, was yesterday the
a considerable excitement, owing TO the usual annual
,.,,on ~ \ BOARD OF Directors and the fact that
ematorv movement foot TO resuscate the droop-
mo affairs OF the company The orgnaters Of this move
oent held meeting the evening before IN the Cooper In
stAute at which ticket nominated embracing their
vriucipIes and this ticket presented TO the share
holders yesterday morning for their support
There were three four tickets IN the field The fol
lowing is the 'splt" ticket
poR plElNToRs-ls59-6o,
Samuel Marsh, Hermann 1elpcNc,
Daniel Drew, george brgsv, -,
John Arnot, hopef, ~ pGIueh,
Ambrose s Murray, Saml IL ? Hall,
n A C,shman Edward X Aburtis,
VIM b Skdmore George y eoop,
Ralph Mead, Wm. Evans, Of London,
Dndley : Gregory, Eng,
Edwin J. Brown, ufidh y ehl'h
The following the original ticket OF the new move
nent as adopted some time since
srofxuoIpERs, rckET FOR DIRECTORS
AND KRIE RAILROAD COMPANY FOR HE WAR ENSUING.
Nathaniel Marsh, Ross W Wood,
Hermann Gelpcke, John A. luqueer,
Daniel Drew, David Ogden,
Edwin J. Brown, a J. Cotheal,
a. W Van Savorcn, David Jones,
Washington Mills, y. Bartram,
D. NJ Hughes, Ambrose 5. Murray,
Dudley $, Gregory, Jersey Goshen,
City, John Arnot, Elmira.
Edward X. JNbmtis,
Some slight changes were made IN this ticket, as fol
kws but presented for the support the par
ssans OF the movement
STOCKHOLDERS ncKET-ApoPTKp COOPER INSTITUTE OCT
10, lS59-foR DIRECTORS, lS59-60.
George Bruce, Washington Mills,
John Arnot, Ross w. Wood,
Dudley 5. Gregory, John Wadsworth,
Ambrose s. Murray, Thomas Ewbank,
Samuel II. P. Hall, David Ogden,
Daniel Drew, A. l. Cotheal,
Edward X. Alburtis, John A. Luqueer
Hermann 6epcke, g. W. Van Stavoren.
Edwin j. Brown,
Ewas understood that majority Of the above named
gentlemen in favor OF adopting plan of compromise
substantially follows, although they pledged
committed as TO its detalsThe rst, second and third
mortgage bondhoers TO defer the Of years
interest The first mortgage defer said pay for
two years the second for three years. and the third for
four years, and to receive for the coupons maturing
within these times unsecured bonds maturing above
two three and four years. No dividends to be
paid stock OF any kind until these deferred
interest bonds are paid. The fourth and nth mort
gage bonds be converted preferred per
stock at their face and interest due The unsecured
bonds TO be converted the class preferred
stock the fourth and nth mortgages but par without
interest This is valuation of about 20 per cent less
than the fourth and fifth mortgage bonds taken at
Bills payable, for which collateral security is given and
the amount due the employees &c, TO be paid in full out
Of the earnings Of the company.
The results OF the above would be about follows
amount o. hrst morlgage.. ..-........s3 81, 600 goo
Amount of third mortgage Observation-Disclosures. 5000, 900
OO0
Amount of deferred coupons interest bonds
due IN Two, three or four years. say...... $4,000
Amount Of preferred stock
From fourth mortgage, say ...... 81 100000
From fith mortgage say .......... 100000
From unsecured bonds. .......... 100000
Total preferred stock. ............ - IS 900 900
Amount oil common stock. II 900 900
Represented cost of the road ...... $37 elO 900
The polls were opened few minutes after IL A. NJ ,
and the voting then began, principally by the reformers
although now and then yellow old line ticket
would appear and disappear into the ballot box The re-
formers confident OF success and felt very hopeful
as 10 the good result of the new movement SOld Erie
has its darkest day said Yes, said another
"under good management our stock will be worth some
thing 10 US yeti Thus they congratulated each other the
utmost harmony existing between the two sssplits'
the reform nominations which differ, however, ia
two names only The latest onethat adopted Cooper
Insttute-met with the almost unanimous support of the
reformers.
But the first damper cast upon their spirits when
W. j. OBrien Esq, deposited nearly 1000 votes for the
old ticket. After this the yeows poured in in steady
and continuous until the close of election and
the prospect Of defeat became and certain
the reiormers began TO console themselves with the
thought that they not successful, the
ment attendant upon the movement would inspire the
Board with life and energy Their hopes were finally
crushed, when at the close Of tho election it was an
nounced that the old ticket had received nearly 900
votes, exclusive of those that scratched
The principles set forth by the movement substan
tally as follows
The road through unfortunate circumstances declined
about three years ago. and had been declining since
This attributed by TO the energy the
part Of the directors which ant of energy again at
have but small number of shares argued have but
little to venture and consequently the they take
IN The Affairs Of the company is equally little Those
who would revive the condition of things think therefore,
mat only heavy stockholders should be entrusted with
Inc direction OF matters since their interest and
would be proporonae 10 the they have invested
ms certainly looked 10 be reasonable and wise
o. resusc.ng The stock but the election yesterday has
delayed it for another year al least although as the new
movement men think, the excitement will have sautary
effect upon the Board.
The following is the successful ticket by majority of
ten 10 II, 900 shares
DIRECTORS 1s59-60.
Samuel Marsh, William Evans, England,
Daniel Drew, George 7. Cobb,
Dudley s Gregory, Robert II. Berden,
John Arnot, Elmra, William +. Splatt, England
William b. Skidmore, Nathaniel Marsh,
Hermann Gepcke J. c. b Davis
Ralph Mead, Henry Sheldon,
ID. A. Cushman, Henry l.. Pierson.
Ambr'se s Murray, Goshen,
The old board is follows
Samuel Marsh, Robert H. Blrdell,
Cornelius Smith, Edward r. AIburtis,
Daniel Drew, George ]. Cobb,
u. A. Cushman, Dudley ). Gregory,
VIM. B. Skidmore, John Arnot.
Edwin j. Brown, Ambrose s. Murray,
Herman Gepcke, $. H. p. Hall,
Ralph Meade, George Bruce,
Il will be that the board of directors differs
very little from the old, and is essentially the
Brooklyn City News.
DEMOCRATIC NOMINATION FOR JUDGE SECOND JU
DIuAL DsrMcT-The Second Judicial District Democratic
Convention met in the Supreme Court of the Brook
lyn City Hail. at O'Clock yesterday afternoon for the
purpose OF nominating candidate for Judge in place Of
Hon. Seah B. Strong, whose term is about expiring