New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1868-12-14


fully dereict to his trust lie appeared before the Court
AS having taken part with Work in settlement when
unawnlly some millions OF money. He was false to his
trust He was regardless Of sefrespect as 20 come
Fisk and Could who both protested against it,
Thus explained how though some directors e were
director made an nidavit against them Since the new
blood was brought in the energy and OF man
agemen had such to commend IL 10 all THESE CO.
Now Mr. Drew appeared here as hayhg c Srgs S
Of SUITE 0 ST0oF SE purchased bonds
Of another COMPANY PAID sp done w Shs EdSse Was
Prcsdent and Drew aud Work directors to give Edrdge
n Great gain through another company ana 10 cnapio
Drew to make great gains O e company Of Which he
was trustee, TO plumber It, was an lnlny "iuDh to
the men guilty OF Cpns in Of fraudulent action on
the great public trusts was 80 proVaien' 10 " w
as tho rule OF justice. , 49, l., ,oee ., 20 ooo
shares of stock 10 Drew That was before Could FISH
and lane had anything 20 do it, and could only have
Then it the Issue last OF soS and the
money turned into the treasury There Is an si0g
OF another issue OF S5OOOOO0 Now TINS money n's5
et apart for parposos named IN the law which justified
them. hasty reading OF the compliant nsaS ie o Go
with these maers but truth is they were not then
officers OF the Company and the Legislature mas usned
oo the trouble to say with which these plaintiffs had no
connection Why this disclaimer Belmont, ana nau
mariner OF course had not But the real plaintns De"
and Work know of IT, and they know that " was suen
transaction that partcpator could come INTO nnr
sueth and allegation Ia inserted After these .nss
se pn@ or Snd lane O to p get
soo control OF the road And for that they got CERTAIN
directors so elected What charged as being done IN
pursuance OF this plan Is every WORD raise nIsI my
s hat vas false and known to Drew and Work to be
false Counsel read from Mr.. Goulds affidavit 70 snow
viii be remembered, includes Edrdge's official letter on
the settlement Against this settlement Messrs FISK
and Gould protested most vehemently and ther opposi
| fIon 10 that settlement has never been denied
IL is then alleged that Fisk Lane, ana Could with Two
others became the Executive COMMITTED III can nhrdy
be charged that there was any loss In getting out Iu
ridge and Drew, that there was much harm even ia q
for that IL resu ted In bringing
in TWO men IA the Vanderbilt interest Now, Mr. Drew
swears that, cas- he has been Informed risk ana Gould
have Used new stock sent money 10 Canada 10 Well
judge reading these statements without Inc eao Of oTre
statements and yet there nothing IN these staeIes
issued sl6 GcOoo OF stock TO be used control the
election Now this would have been not only wrong Dut
utterly useless for there no second cket OppO-
siton Two hundred and seventy thousand shares were
voted the list Of voters including nearly all the prom
nent bankers ana pGHos % @ 1I t her Man they
close The transfer books days earlier than usual But
when they got at tho facts 1t turned out to have
transfer clerk Another allegation made positively IL,
tbs ; Bylaw so %i have Sdoa sseeTad BY
inquiry. No such bylaw was ever passed. Then by all
meeting Of directors Is heidi because the time had not
then come under the bylaws, for such meeting And
irving was uieless Not stakeholder has yet APP
peared desired vote for other than present
directors party OF 10000 10 cOocO shares would have
been an admirable backing for these charges lt had
been said case that opposition as often preyehiea
by showing u was hopeless but there ha nor mere Deei
produced even one stakeholder who had been deferred
There il that It Is believed IN wat that
sOoOOO OF been issued but appears that
stock has 2ss The sS@ SSs% fG wo
could the offer OF DreSs s0o,OCO was not likely TO
Mr. stcughton alluded to the BInghamton suit and
Judge Bacoms action therein and said he had no donpt
Mr.. Drew aud Mr.. Work would DO heard there IL they
A. TO te charges OF locking up money OF sending II
Canada. OF using it for private specuatons they were
made ON belief; they were depied positively Pkes
not Of The Conpany There Was no law against rail
road director also running AN opefa mouse, uhs , .d
out be Indispensable Ia the Companys business They
were o6arged WITH purchase OF IN. fe56orh properly
In Buffalo for $4,000 whom tleT only purchase there
necessary one OF right of way for $500 They
are also CHARGED with purchasing rolling MILL which IA
based upon the fact that works have been purchased
which Ia used for tho manufacture OF steel rails and this
was shown % be great economy.
Having shown all these charges TO he untrue We have
introduced aidayits show that OF late tho manage
men has been marked with great yganceisnd untring
fidelity.
charged been entirely faithful Those were All the
considerations necessary 70 present. The only charge
yortible bonds IL appeared how who were the real
plaintiffs ia ths case, aud they had standing whatever
ior an injunction and receiver
n appeared that 40 stockholicr had any standing 10
ask for such relief The only charge indebted the
issuing OF stock. aud 81 appeared, II this wrong
that fraudulent intent IN IT, but only
take. When they down 10 the solid ground Of facts
they found that was made out All the charges
not made information aud belief were made by men Of
no credit ana II tucre we're any case made OUT every
mater al fact the complaint had been positively de-
nlcd. .
Mt Barlow said tha, they desired that the should
20 over Monday IL had been intended that MI Mcfar
Ian should open 10 Tor them, ard hc was now absOnt
Judge CafdoEo asked how many expected u speak on
that side.
MI Rapano sad that Judge Emmett and himself de-
sired TO speak.
After some little further discussion Il was directed by
the Court that tho further argument be adjourned until
today ~ O'Clock and on al that hour from day to
day, uUt!l concluded.