New-York tribune., 1868-12-28

palmer The plaintiffs seek nterpoe after stock Of s1 Com
Sndi the provision be Tssi these intsrpo
bst II thee be any stock Compsny in uaen The directors can
provision give the holder Of bond, other per-
The rght TO tke az any time utaef such regulations as the
T1rd. ~ to the consctou which She Legislature given
hstorg Of The provision VII make tlis sr The io3 snoqu 81
relating Mohawk and Hudson Railroad 1hlt Company was
or gc5e,, n 70 c In az tCh ; te Company was author
in1 20 Increase i stock by slg@o 10 55i va 40
reciors night elect and 90 e former alternative the Whole amount u
J.eca,cr \, ss icg,,er ttst tIe psrur la1nare of
elected to advertise Tor susptons 70 stock could when % came 20
boroF make te bnds oCaeE.b into soe Is iout wa,
to onyer tie aoart thereof into stock Of the G Company par
gener SLOWED il sue o n noi, aaa is yg5es M
houds authorized all eonet the eapital stood at
mentioning Increase Bot 1888 when i1o Company vas
Tgea ne % m ,ns zen 2es',s h.ih wv AZ Us ei & ~ i' & @ u n 10
the h Nay 1884, another act passed C b. @ eaor
a. R tmo or tines and In such amounts rs he Director q
T oI,Sg sn1 m ' pTape sd e sohsa to s Compapy or any
part erso o &c repayment Of the ,nm or s9n; borrowed % E19 ~
evidence u indebtedness theI issue for sg money 80 borrowed
COMPANY at par at ans exceeding years from the date The
said bond Obligation under cb regulations as The nd directors may
% The general railroad ag was derived 10 1893
directors convertible into stock This history shows:
y, I9oi n axe, ,S ~ t te nIi % 's ISo 'a a a increase 70
by expressly suthor convertible bonds and
issue OF convertible bonds without expressly mentioning
te Dree'9" al se we "0s1 s 'hg oHf sr. bs,s n -.
sS the aa.et, oE line to tine Ih, The Legislature
,h fore have is,r1sel a. ',s'I o ',l & r. ~ & ~ va esssy
tie general RsFay act o. 1850 the legislature 'sd 10 Is loin ,
ameldnert Nobask and aaoa Railroad ae' meant the
sane .lilg ,,t. General oo...o, RI,
oi so' tt to The ,Ss 's go u5ols @ysa I f., "S Bses
Ralwhl Increase the capital glout
he onesnee of stockholders ard Ehe M needs the
eo, ','. 'o Pst tcs TbT. in ias ~ ",n Railroad
Compsng sboss track & nor h't II H.sS
in propsinr ca srs hereby saibor, 20 6,r cJ.@H
o borrow ls see Of sai ,d #, 1Pgafs7',G e. ,Sd @
ptY.', o. 'a,ai q, & es u 9cyg a I w M eB ,s extended 20
] m s, % % " IN esibored sS Csnfse io-rovg moHey for
az Psd the losu ad divide .ach stock Is ,lshod'T
~ TIE act Of lS ca 100 N rsi,ton 70 as Le~on ~ M ~ y
l s5 sbsp w. i ,ss enacted that any corponroO crea
ted by be laws tie state or 's ,qecs nos being tls sse o. ne
l STOCK of te holders o any oi them 10 ihe r'2'a
.se.u. soi s'''' , 5i,i Il. l., ''sid sda .@@.. q l.
5ssIn isf c *, Tn, ies,ure hs. 10 osr By erre,
words given 90 ih directors o t".f. 10 10 & 20 G
ga incorporating the Pnns RAILWAY Conpao was provided 9y see
@ % % . rot Ist thss one 10 op of dor with power
any me 20 not exceeding te millions 81 DOL
hre" BJ ',eioa 'hs CoHPH vas 1sISi+" .ns ''&'.SS &
.hey VA, FOR say mo'ey borrowed the tight to convert the
prucP. Dc teo. ia,' SOB Of u. HI %H % s l ' 1; o9
mar to 'io0t and fr such Purpor ise iaa
.aaaa, % borrowed &c. me 'e' fr he .oa'old,,.a ,,
, no. s,o c5 oomgsp S,,,ea on tl sb Of Ap O c.
%. o., endowed ' e, C'P e. az VIA ~ s IGe % rs so y
ca q, sg . ., sss ~ .,i % ,;,s ,' s g;eS 9, 81 & &
ar the a. ra fOai eoporaiiots were Aaih'1i
S, tr .te egso dton Of he two companies sTrir
aud Koehe,,sT, provided b. section D. tor tt "'.s S'
To- usn F,e- Rsrsd Company Incorporated 70 i'5 ch 2s
r.1 scil IN s ess,si 500 90 of5s dct he co@ssy ust
bond h-y 'ae TO- say oley 80 borrowed m tue ~, o., %
road the rt 20 convert le principal slt isIeoA mo SOC.
d, year. foS tie da.o q .aa losa ura:f .ses
corporation !, authorized increase capital stock 20 ils
arou " loN,d r.e ne Psi ,'l. q" Any any & .it 20 "a @ @
ever hat h- whole ca o. 'i eoarasy ' "a 10 case ,isesi 70
d 90 i.'ae IN si.'ou 70 tie pii STOCK u tie C'afsW
q stock o. 800 each no. ,r,eeras il ,6e v6o,
en cent Of ne e'Pi ss nay he aee',, to ,n.9e .Le
congnI pe, ~ sai Iy nerci % amslu psa u @' ne
co.ranon u .ls o ga o. e?r,~l ,si PG' ,s op55.o5 b,
-i.o me- pr.cn rs ma, sosf.r aoa the boiler, - sry bond
. & .: 5 s1 @ T s ssS @ dsS % & af.S SoS aad,r
a. The deor, may see o. O. Aaeg' s 'f sa & @ % 81,
{, tie suoaai required not errvrtns te sum - ooro~r
n ~ a. % nv, b. ppis 'hs ssa,t
@ q, Pa';il ~, L ~ @ , & ys VA to A6sar psi
t ~ ir., ,,l mentioned prli given
uulsr fls s,cauiy setl gFea sec ' Too
inoaai Of ,sosA 'h be oucaog 'ae amount alrsad
t.,r-l Iy COMPANY (efcrnt 81
bonds forming part al Authorized by law hebs limited
TtO nHi hat DO suei o comply With
rspenis interest ockhos All o other purPos aaer
sr uicr atns e
board ~ Directors frpu tine 90 time rue The cs ~
ligsun kaioad reported Ss hIgler
iu 1873. Ttci
report The capital cbsrtrtohrn 10000 sut
the total amunli no" Ga4 10 o caiiA sofs u e S'NA"
1852 authorizing the Consolidation o the railways teINesu
Albany sui BnIao m ' Il provided that tbs dreeso Of she
might enter uto agreement r consolidation
capital
shares Of which ss DOT BE- larEer
An smoau a. LAu sggr f capital Of tho several coUo
ihr hprl 1850
Kawsy 10 oi tAs act sgTvemeut Of
(rtr, Company by the i silr of wheb prOFiel
Tie capital Of the said corporation beiag lisd
b. the Act aoesall !" hA"lu'
thus eousosir ne respective las' hrrt'e 90
srvey that the capital stock Of the ssd
respectively 0gsr ptl ne amount daB g oufsidGing
wita re
r hodfs herrJ cgtert ttf iHo ne caIii! STOCK
oop0aios rcI'fy par oa surrender oi he SAD h'm
aud oa the terms feutonel. follows;
TIL. present actual paid Of the Abauy aud Schenec
tady Railroad dyi into shur,s Of SO eaeh S'W'
The anoant OF the or ncp said Company
Convertible stock thereof, aioresad, ard out
standing and unpaid. tnUe
And tb total paid capital being. 2sS86O
Ard the total bonds issued hy the Abany ant
sehtueciadr e Rochester aud Syracuse aud tie RncU
rrr Loelpor. aud Niagara fslls Railroad Companies
bcug --''OV
413ois go
Forn4 an aggregate present capital u $22 8s6o subject
b1 into stock
o ,lT O .kiug n all The capisi
errfre tId 20 tv said set ~
the esssur At the aforesaid sggreEte SUN OF t ebJ 70 ecA
DO increased by the into stock Of the
prepal the sid outstanding bonds, from time 10
sha h, eonscfied exceed the .am Of sg3556o divided 10 2
" b0 each The capital Of tho New ork Central Railroad