New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-06-04

,orv hss ,,acp consolidated with the Chicago and
North. Western Railway Company under the name OF
the latter by the tims Of consolidation the STOCK OF
the Gaena Company will be exchanged for stock OF the
North Western Company as follows One share Oh
North Western preferred stock, and one share al Norh'
Western common with three dollars in cash Tor eoh
share of Gaena The union of these Companies on the
terms agreed upon is undoubtedly wise, and must result
in great advantage TO both. They have been TO con-
siderable extent competitors for the same business and
have suffered in consequence. They now come together
upon terms entirely equitable and which we learn were
unanimously approved by the stockholders Of each
Company. The business of the consolidated Company
viii be conducted economically and 1t VIII be able
10 use its equipment much more efficiently than
would be possible while tho lines were managed
separately The effect Of the consolidation upon the
Securities Of the Northwestern Company is very oh
vious 1t adds TO the strength Of its various issues Of
bonds it renders s Preferred Stock Of tho sound
est in the market and eleyates its Common Stock alone
into the rank Of dyidend-paying securities The two
Companies earned last year, reckoning from June J..
1862 TO May 81, 1884, as appears from their published
returns about 81 10000 They earning ut present
from IS to 80 = cent than they earned last year
II is evident that estimate Of IS 100000 for the earn
ings Of the consolidated Company is moderate yot
this aggregate after deductng GO y cent for running
expenses leaves ~ cent on $50 100000. larger cap
ital than that represented by the Chicago and North
Western Company inclusive Of tho Common Stock.
The annual meeting Of the stockholders Of the Gaena
and Chicago Union Railroad was held in Chicago on
the LIST An entirely new Board Of Directors Wa
elected as follows James u. Fish, William B. Scott,
William r. Sands, Edward p. Bancroft. james w. II
wen, John Il. Turner Thomas d. Robertson, AleNan
der c. Coventry, Mahlon ID. Ogden. Francis 7. Pea
body, Edwin III. Sheldon, William III. Ferry, Ira Y
Mum.
At the annual election for Directors Of the
Rome, Watertown, and Ogdcnsburgh Railroad Com
pany held at Wstertowu the lst inst the following
gentlemen were unanimously elected: w. c. Pierre
pont Pierrepont Manor; Charles i. Bill. John Fee
guson, Edward Strong. Samuel +. Phelps, Marcellu
Massey York; Henry Alexander, jr, Springfield
Mass; Delos De Wolf Osyego; L. II. Camp Water
town; S. d. Hungerford. Adams VIM. Lord. Brown
vile; David Uttley Rome; Calvert Comsseck Albany
The earnings Of tis road for May we're $23 600 ove
the month of 1863 which is about the average in
crease per month since the LIST Of January compared
with the corresponding months Of last year.
At the meeting of the Canton Company, hel(
at Baltimore yesterday the following gentlemen wer
elected Directors for the ensuing year. j. W Randolph
VIM Fisher c. u. Baker, Joseph Reynolds, t. +
Gardner, Baltimore Geo. l. N. Davis, Abner b. Bay
lis Chas. A. Rapallo. Orville Oddie New-York.
The movement of Dry Goods at this port io
the week has been as follows: