New-York daily tribune., 1859-06-04
The pIilo3elpkia Ledger says:

The Philadelphia Ledger says
"The report published in several of the New-fork
papers, thai the Pennsylvania Railroad Company had
made formal proposition 10 the New. York Central,
for mutual adjustment of the present differences, we
have the best assurances for saying IL wholly un-
founded
This may be true, but it is also true that these
Companies have been in negotiation, and have ar
rived at fair understanding, which will be carried
into effect when the Erie and Central local difficulties
are adjusted. The Ledger also says:
"Tbe railroads competing for the interior trade are
still at war with little prospect of harmonizng any
common charges. The holders IF stOck- in the New
York roads are beginning 10 complain bitterly al the
loss of profits and the general sinking OF the prices o
shares The other roads have no alternative but suo
mission hard as Il is As counter movement, tne
time on the New-York Central from Buffalo viii ne
shortened two hours-an efficient, but costly remedy
Some Of the Western roads are becoming re-tIve un-
der reduced prices and will probably take such act'h
as will leave the war expenses upon the Tour eai
ing belgerents There is 10 reduction Of fares with
the roads upon Western bonnd passengers or u thee
any Inclination 10 make them. The contest upon
frechts has ended lar reductions are concerned
and all the roads satisfied with their present losses
The movement Of freight west is comparatively small
and will not increase until the Autumn trade com
mepces. An impression prevails that the SOnthern
roads will ask the Northern lines 10 name nignel
prices but this will not be done, certainly not by the
PENNSYLVANIA Central which now ceItrols the whole
ques,ion. That road has been forced into quarrel
slowly bu steadily but no short quarrel can EXHAUST
the Company. II has made its usual g cent diV
dend with surplus Of $4,000. It. February ana
March earning gs in of 1888, std 10 all re-
spec,s the financial affairs of the road are credtaoe 70
the maDagers As the pre-elt war 20 Afh TO all rai
way property, must terminate in an agreement To rais
prices, the sooner it is dUn- the better.
The annexed communication in reply to the state
ment of Mr.. Waring of the Cleveland and Toledo
Road speaks for itself. II is from the attorneys VINO
commenced the suits. Having originally made the
statement that suits had been commenced give
letter Of the Messrs. Beecher in justice to our selves
To the Editor Of The " T. Tribune.
SIR: We notice your paper of the 9th inst. csrd
Of j. b. WariDg, President Of the Cleveland and To-
ledo Railroad Company, stating that no suits had yet
been conn enced against that Company by any OF the
towns along the Northern Division, and that erroneous
reports had produced wrong Impressions, which be or
the Company wished TO correct, &c Without pre-
tending to know the real purpose Of Mr.. w. 10 pub
shng this card state that il is well calculated TO
nisead those who interested in knowing the truth
concerning the litigation between that Company and
the towns ON the Northern Division. The two divi
sions were originally rival roads each intended for
connecting link between Cleveland aud Toledo 10 the
great railroad thoroughfare bet Buffalo and Chi
caeo To aid in completing the line the Northern
Division towns and cities subscribed and pad a. fo
lows: Ohio City, 100000 Eyra, 30, 600; Portland
Township for City of Sandusky, $i5oo Huron,
sI2 coo; Vemihon 81 800. In July, 1853, plan Tor
consolidating both divisions was adopted, and took
effect Sept !, same year. This agreement required
the copsolida'ed Company to run both divlslons In
June 1858, resolution was adopted, Authorizing the
Directors 10 abandon all the Northern Division west
fiom Sandusky, and Immediately all trains on that
division withdrawn, except freight traln with
passenger car attached, which now runs once day
from Sapdu.ky to Bere9. On Sept. q, iSs, mee.,
ing was held Sandusky of citizens living along the
Northern Division, at which resolutions were adopted
setting forth their supposed rights and grievances an
charging the consolidated Company with bad faith anu
a violation Of the agreement OF consolidauon IN Tue
management Of the road. The meeti z also appon'ei
Con mttee Of nine and instructed il to employ coun
eel and prosecute the Cleveland and Toledo Ralroad
In pursuance Of this authority the Committee retainer
Judge Tiden of Cincinnati Col. Sevagne OF Columbus,
and the undersigned the counsel of the Northern
Division. Under this retainer, various suits and pro-
ceedipgs were commenced against the Cleveland ana
Toledo Railroad Company, and which are sun Pehd
ing. The hrst was an action by tue Fort Linton n %
road Company agt. The Cleveland and Toledo kai
road Company the object Of which was to set asiae
and declare void lease given by the Port clinton
Company to the Cleveland and Toledo company OF
that pant Of the Northern Division lying west iron SAN
du.ky the same which the Cleveland and Toledo
ComIapy had resolved 10 abapdon). This part oi the
road was constructed under the Port Chrton charer
and under lease from that Company was halshed &C.
cupied and by the Cleveland ana Ioeao company
An Injunction was allowed restraining the Cleveland
and Toledo Company from removing the iron or de-
stroyipg the superstructure But this injunction was
violated by the order of Mr.. Waring and small por-
ton of the iron removed. An application was made IN
March last attach and imprsJn Mr.. w. for vioia,-
ing the Injunction. This motion was discontinued at
the instance OF Mr.. W., upon his consent and hug
written stipulation agreeing that the IpJancuoa
should be continued aud that the {. a 1. 20. would
do nothing more toward the destruction OF the Road
trial h, expected in June next The counsel also filed
a petition in the Supreme Court of ONO, asking the
allowance of a writ OF msndamus, commanding the u
and T. Co. to run the Northern Division and execute
fairly the agreement of consolidation This motion was
fnrth the
Understood the Court believed that they could have
adequate remedy by ordinary petition IN Chaneeryi
charging the Consolidated Company as Trustee, and
asking specific execution of the trust. Under this
iLtmaton the application for mandanus was Withdrawn,
and suit in Chancery commenced IN which the Com
mssioners of Ohio City the towns Of Elyra Ver1nil-
hon. Huron aud the Trustees of the Township Of Port
land plaintiffs, and the Cleveland and Toledo
Railroad Company defendant. This action i still
pending. The remedies prayed for by plaintiffs are
First specific performance of the trust and sec0adlv
if this cannot be had then that their damages which
they claim TO be very large, may be sdudged TO them
II Is but just that should say that the last mentioned
suit has bees lately commenced, ard We believe the
process served on the very day Of the date of Mr.
Warnings card. The course of the Cleveland and
Toledo Road during the past year, relation 10 the
Northern Division Is, 80 far know regarded as
unparalleled outrage, and It will lot be submitted
TO without severe and protrscted struggle. And for
which could state, believe j. l. only
bod faith, but bad financial management.
Respectfully, L 5. J. I. BEECHER.
SanGu.sy May 3, less.
The IndeEtaden:, speaking Of the Erie Railroad
SAYS:
This mammoth concern has jus. now reached deed
calm. Neither WIND be- had 10 vtslize the
old hulk We recognize amorg the Directors ofthe Erie
Railroad two or three practical business They
ought stand BY the concern to the last moment and
use every effort in their power TO protect such vast
board Of management selected from the ranks of trade
is What IS wanted We have had il offered long
enough Let it be taken ou. Of the clutches and very
sight Of Wall street, if possible. A removal of the