The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-12-01

not At that tine any lawful power to inc ease said
stock, and has not now any suc" power, except
WIN regard to ss,oooooo Q. ,. capital stock, which
was authorized te 10 Issued by act OF May :
1854 ..of tine cancslls.ioa OF certain bonds and o.
l-io shares under auth GRITTY Of acts passed Aprh II
and March IA, 1865, and excepting also I'VE power
conferred by section nine OF the General hantoaa
law Of this s.ate The complaint then goes on 10
recte the unlawful OF as 00c shares 10 Daniel
brew " May, 1866 which was the primary cause Of
EraHS Wors against the company and Drew IN the
sprnr OF 1885, the nominal sale after the commence
sent Of the Work suit OF t5oOoooo OF stock 10 pa
yid l;roesbeck, which stock was thrown upon the
market February ~, 1868; that about March 3,
ssss a., F isr:eteSded sale Of 600 Of Convertible
Sonds to said Drew; but the conversion OF these
bonds was then prevented BY an action instituted
new General; that Notwithstanding that suit and In.
Nnci on, Fisk, Gould and Irew, IN combination with
lssue OF $l0000,000 Of STOCK which was also put
upon the market The SUBSEQUENT suits Of Richard
cecds Of ss iast Issue Of so and The orders
made by the Supreme Court OF New York city ana
couaty, holding such issue % DO ILLEGAL, are SET
Compromise ''' b. scSei ana d others Of eli
the suits; and further that Of the time Of that dis,
the company conssted OF az 600 shares In addition
20 preferred STOCK REPRESENTING :s5sjelo; tina thus
yalilfv n which was not contested. So 600 shares
ISSUED 10 Drew in Nav. 1885, Which had been con-
tested on the ground OF It's legalty; 1870 shares
issnea in Erhrnarv 1s6S M a pretena "A ,,ntmasIon
n Sse 4 ncl ~ the utIalo Bradford ana pirsbnrr
Eaiiroad rornnany the Validity az when ives con.
TESTED and lno u,o shares issrisd IN Pchr,,arv ana
was detarnined before Indigo Sutherlnnd ~ $3.50
me hi hen nrocec,s "a Set aat the combination
OF Fisk lonId Il Lane 70 obtain Tor themselves n
control or the company by virtue OF their be NJ
members ana n majority or the Executive Commit.
tee or the Hoard OK directors ami the use OF the
lations their procurement Of the resignation by
Eir,ige or his once as president UPON Tue nav.
paeut Ia nlm OF q large sum OF money ana the uur
cnase OF SIS oO0 OO OF bonds OF the Boston Ia tord
aud Lrie Railroad Company. Of which E.drdge WIS
aso president; the resignation Ia July 1855 OF
Danie Drew az treasurer and the ap-
po.utment In his stead Of Gould and lie
paymalt by Drew TO GoulI OF s4 600 oJO the balance
OF Drew's account as treasurer together with the
further sum OF 100000 ia settlement OF cer,an
GAINS OF the company AGAINST Drew, arising Out OF
TIE issue OF STOCK 10 nm in Nav 1906 ana 100 600
tae sum OF Drews Indebtedness to the company:
that th,s $4,000 coo Was part OF the proceeds OF the
issue OF $40 zoo OF stock IN February ma March,
1868; that after such payments Gould sod OJc, 900
OF sterling bonds at los per cent, realizing there
1ruin upwards OF 81, that out or gross
amounts received by could he paid to EiJridge, on
account or the purchase or Boston, Hartford and
Erie DOndS TIE sum OF $200U,OO0 aud
save the acceptances OF the company for about
Iisx and Lane maze preparations to preserve their
recent on OF Office at the annual election IN October
J g. by secu ing proXes'' FOR voting purpoSes and
also caused to be issued q certificate Tor 200 U0J
Bnarc5, $50 OuU, COO, to be issued pretended
conversion OF further convertible bonds bur that this
certificate Tor certlucaes was made expressly to De
Converted into STOCK Tor the Controlling OF the lee
ton; that these drec.ors contrary TO usual custom,