The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1859-12-16

PRICES 4NpSLLEs STOCKS IN NNEwYoRK
RY NEbEGRAPH.
Through iGLtk" FISHER SoN Stock and Bill Brokers.


We learn that meeting of parties interested in the
completion of the Philadelphia and Baltimore Central
Railroad was held at Towsontown, Wednesday, but
the President, A R. Mcenry, Esq being absent on ac-
count of indisposton, business of Importance was
transacted. The President will however, requested to
appoint an early day for another meeting when citi
zens of Baltimore county will have opportunity of
aiding the enterprise by subscribing to the capital
stock.
This road it will be remembered, in successful
operation as FAR as kennett Square in Chester county
pennsylvania, and is permanently located and partly
graded as far as the Susquehanna river which it strikes
short distance above Port Deposit The Susquehanna
viii be crossed by permanent bridge to build
which, every material needed the ground The road
theh passes through Hartford and Baltimore counties
'oFngng their county seats BelAr and Towsontown in
close connection with the city, strikes the Northern
Central Railroad at the Relay House. or at some point
contiguous thereto
II this road is completed. and denseIy populated
agricultural and manufacturing region be furnish
ed an easy means of transporting their produce and ar
ees OF manufacture to market thus being incaculabe
cement, 10 not only the people of Cecil Hartford and Bal
tmore counties but also the city To render the com
petion of the road certainty all required is that
the sum of 100000 shall be subscribed to the capitaI
stock on this side of the river
THE EXTRA DIVIDEND
The following statement submitted to the Board of
the Baltimore and Ohio Railroad at the last regular
monthly meeting Its great interest induces us to pub
lish it length:
deem it to be my duty to call the attention of the
Board to the position occupied by the Baltimore and Ohio
railroad Company at this time before the Federal and
State Courts in certain to which shall now re
You will remember that the President and niroctor, os
this Company, on the l7th of December 1856 declared a
dividend in the manner and form prescribed by the
rtion of that date which is fully set forth the
of the Company You will also recollec that the Mayor
and City Council of Baltimore opposed the action the
COMPANY
from issuing delivering the certificates to in
the resolution declaring dividend These legal mea-
initiated by bill filed in the Circuit Court for
Baltimore City, on the 10th day OF January 1857
When this bill was filed Chauncy Brooks, Esq, the
President of the Company He deemed it be his duty
it undoubtedly was, defend the legality and proper
y of the recorded action of the Board He therefore re-
quesed the of the Company appear to the suit
and under his instructions proper prepared
which duly verified by the oath Of Mr. Brooks This
accompanied by motion the part of the counsel
of the Company dissolve the injunction which
issued by the Court The of the Company
verted the position assumed by the Mayor and City Coun
Gil of Baltimore and afforded the Baltimore Circuit Court
the fullest opportunity of deciding all the questions which
had been made the subject of litigation by the city.
The questions involved, however, not left to the
arbitrament of this single On the 10th of March,
1857 bill, kindred in purpose, filed the same
Court by the State of Maryland.
On the 1lth of March, 1857 the city of Wheeling large
stockholder in this road, becoming alarmed rumors
which then prevailed, of intention rescnd the reso
luton declaring the dividend filed in the Circuit Court
OF the United States bill asking that this Company
might be restrained from such action it feared
that the Company contemplated.
answer to the bin sworn to by Mr. Brooks had been fled
in the suit of the city of Baltimore and the ina
ton Of the suits by the State of Maryland and by the CITY
of Wheeling, the President and Directors this Company
again held meeting. 1t was the pleasure maj iority
of that Board repudate the action of its President
The counsel for the Company instructed to ask leave
of the Court to withdraw the filed the Compa
ny, and to dismiss the motion which had been made to
dissolve the injunction
These resolutions ordered to be filed in the cause
At the meeting of the Board the counsel for the
t'OIDDaDV nirp
for by the city of Wheeling stakeholder in bill
filed for that Corporation in the Circuit Court of the
need not call the attention of the Board to the singu
lar appearance then presented by the affairs of the Com
pany
diVldenc mad been declared by the President and Di
rtet@rs wcn mad been formally attacked in the State
thory that dividend declared deliberately ordered
% e = M!iiGn aor!eu the Vindicatlon OF that dyi
"eu 10 oe "ita"l III oIaer to Afford an easy victory
mistaken reasons as complainant Nor did the Board of
purse TINS policy Of alone but
iI J'a5 ~ 70 contest Iie ulVloeha whch It
ad declared ny ordering its counsel to contest the suit of
ny mit @ b aS MnS1 claimed only that the Com
is 5 , my p ato"eu 10 aepart from It's own reSoiu
uGh s,%iennly ana voluntarily enacted by itself
vat ncboidcr t SteSess s the result certain P
ae terPose Tor the protection of rights
which they thought they had acquired when the dividend
was declared on the nth OF March 1857 Gregg and
others as such stocNhoders asked leave of the Circuit
Court OF hatmoIe TO be made parties to the suit
menGed by the Mayor and City Council of Baltimore,
winch mas oeen already referred to-
On he same day, the DAY following the adoption by the
Board of the resolution CT the 23rd of March, 1857
sci appeared l0r ts company IN the SAID Circuit Court
leu te lTs9IutIons vi me preceding day-and asked
ieAEt W "ltluidM ue olsiIal answer OF te company
and to dismiss the motion for the dissolution of the in
JuncHon "ilch ma" peeh before made
me Court acuhs upon these varied proceedings, deci-
"eo t tne answer already MED IN behalf OF the Compa
ny coun "ot oe Wlthdrawn put IL dismissed the motion
,Ie HJuncLloH II dismissed the petition OF
te 70 pe hla'e part'es, on whose behaf an
,'PP. was tNe ~ 70 tie court o Appeals and 1t allowed
" Ills r ~ s I acths uhuer the resolution
Th ,e ,u andod ] tSo 10 20 ne an amended answer
me ahehueu answer was prepared not by the Presi-
dent but by Committee appointed under resolution of
the 18th April, 1897, and was filed the 25th
May. 1857 THIS answer submitted to an.
proved by, the Board.
This cause went to the Court of ApneaIs aS bava to
decided the Circuit Court of Baltimore was right in
refusing to allow the stock holders o he M sd ot;
the time when th-v annl;ad. hrt II JscIarad r. tb
stockholders were entitled 70 he beorJ in tbo ;,for
Court before any effective final dacrae couiJ he o y;
the This cause has been returned IN the
Court and has been set down for baarng an tho 1tb
day Of December. 1859 va ~ "
The suit brought by State of MARYLAND nrooressad
slowly No answer was filed mill after tbe reso,
tlon OF the 18th Of April 1887 and ha suar os nra
pared by Committee not NV the President ond ras
presented by counsel specially retained by the majority
of the Board and not by its regular counsel
The suit brought by the city Wheeling nropressel
slowly until the 3st Of August 1859 when the state o
Maryland prayed to be made a party This ,atitinn 80
withdrawn and the 10th Noyembar 1870 i: W ~
ckhoIder appeared and praypd IN he ,na5 - u"a
On the 18th of November 1889 however tha 9;t, -
Wheeling determined dismiss it's bill in the Circcr;
Court of the United States relying on the decisio ~.
Court of Appeals its right to be male party in b
suit instituted by the city of Baltimore stockhoder