The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1863-06-09

The stockholders Of the Cleveland and Toledo
Railroad met on the 18th for the purpose of elect.
ing directors. and likewise for the more important
business OF deciding on the solidation with the
Cleveland, Columbus and Cine innat, the Cleveland
and Erie and the Buffalo and State Line railroads.
A basis of consolidation WAS agreed upon some
time since by the respective boards OF direction
Of the roads, and on the strength OF il the Toledo
stock rose above par But events have since trans
pired which render it extremely doubtful whether
this consolidation can be ratified BY the stockhod
ers Of the Cleveland and Toledo. They have been
notified by the Atlantic and Great Western line
that, IL the proposed consolidation is carried
into effect, the Atlantic and Great Western
will, for its own protection, parallel
the Cleveland and Toledo from some
point near Salem, Ohio. TO Toledo or an adjacent
point II is known that line, such the Allan
tic and Great Western would need, has for some
time been graded. and all that would be required
would be the iron TO lay 80 miles Of road. Were this
line built the Cleveland and Toledo would lose all
the business which now goes over the Eric line, and
its other receipts would be divided with power
ful rival. On the other hand, Mr.. Stone, Of the
Lake Shore road, threatens To parallel the Toledo
on his own account and that Of his connections II
any arrangement be made with the Atlsntic and
Great Western. Between the two the Toledo 10 In
. position OF no small embarrassment, and may
pcrhapslose the promising rank among roads which
II acquired the belief In the consolidation SO far
We learn at present the prospect Is that the
stockholders in the Toledo having TO choose be-
tween fighting the Atlantic and Great Western and
fighting the Lake Shore roads, will elect TO take
the latter az antagonists. The Cleveland and Erie
linz, Ia n IA opd all av.d
concern, whose directors will think twice before
they embark in throat cutting enterprise; whereas
the Atlantic and Great Western, which has neither
stock nor bonds In this market, and which is being
built with an energy and . rapidity wholly unpa.
ralleled even In our railway annals, Is quite
likely 10 make It's own connection with the
Michigan Southern, II the Toledo commits
liz fortunes TO consolidation. II would be
doubtless unpleasant TO the Toledo stockholders TO
see their shares fall to as q so. as would probably
be the case II the consolidation arrangement be
defeated. But this would be far better, in the
long run, than TO have the permanent business Of
the line reduced by one half for all time TO come
by the construction Of . formidable competing
line.
e An election Of directors Of the Hudson River
Railroad took place to-day, and the following
ticket was unanimously elected-the new drec-
tors being the first six on the list.--Leonard W.
jerome, A. g. jerome, John N. Tobin, William X.
Travers, Paul 8. Forbes, James r. Sanford, Samuel
Sloan. James Boorman, ID. Thomas Vail, William
Kelley, John d. Wolfe. Moses II. GrinneIl. Mr..
James Boorman declining TO serve, resolutions
highly complimentary 70 him were adopted. and
Mr.. skiddy was chosen in bis place.
We learn that the Messrs. Kennaird, Of the A.
Iantic and Great Western have leased the Cleveland
and Nahonins road for term OF ninety nine
years This gives The Atlantic and Great Western
On outlet to Cleveland, and soon a. the gauge Of
the road " altered 70 ak feet which win take bu,
few days, there VIII be an unbroken line
Of sx feet gauge road from jersey City TO Cleve.
land.
The receipts Of The sob.Trsssury to-day vr.
~ folIows:-- 4''
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