New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-04-30
Henry Smith received 70 votes; Oswald ott'nd0rfer

The House then proceeded 10 vote for Regent OF %
following result John A. Griswold received 70 yOtesi
John FaSg esicd aSmSaed Mssr
selkreg and Htchman were appointed the committee TO
inform the Senate thereof .r,>,,
The Joint Convention of the two Houses met IN the
Commissioner and Regent OF the University LfeutGov
Tie Clerks of the Senate and Assembly read the journal
proceedings thereof each showing that Henry Smith and
John Grswod had been nominated 10 these respective
Mr. Hitahman's motion for the adoption OF Mr.. Muir
phys Minority report on the armores OF the 9Th and list
Regiments was lost by vote Of 40 TO CT. Mr.. HITCH
morning Lost-Si to &C. T. J. CAMPBELL moved to
table the whole question. Lost The majority report
was adopted, and the bill was rejected.
VETO MESSAGE.
A communication received from the Governor,
tong the 9 authorizing the village 81 Adams to issue
ford coiiesste Institute and 10 levy tax for the pay
meut of the same The bin authorizes and requires the
Pre- dent OF the Board Of Trustees OF Adams the
of majority of the taxable inhabitants. at special
election, to issue corporate bonds to the amount Of
terest being required by the bill. to be provid-
extensively signed has been forwarded to
the Legislature protesting against compulsory gft 10
can be enjoyed only by the few more wealthy Of the
people while the tax Levied n Zoe equal PROPAGATION an on
education of the common schools; In his Judgment
pose to authorize levied upon the property OF
the people of town village, whatever may be said as
consent of majority Of the taxable inhabitants to issue
its bonds and lend its credit in aid OF any public i'm
lion of debt should be authorized for the purpose
templated by tho bill and tax levied upon the property
Of the people, when large numbers OF them demonstrate
Mr. BUTTERF1ELDs motion to table was lost by 40
s. Debate had on the passage OF the same over the
veto.
Also a communication vetoing the bill providing for
the construction and maintenance OF bridge over the
EgeT in as TSTR 81 poa
Of Truxton one half The expense Of building and
OF Cuyer There has been several OF dispute be-
tween the two towns in reference to this subject and In
March, 1866 in proceedings instituted by the Commits
oner of highways OF the Town OF TruxtOn the Supreme
Court decided that the Town OF Truxton was not liable
as an eo&s tSwn 81 dis decision the Governor su5
mits that this BILL against which all the town ocefs OF
TruxOn demonstrate should not become law, ana re-
The question on passing the bill relating to the Village
OF Adams over the Governors veto lost by a. TO 81
The veto in relation TO the Truxon bridge was ald OIL
the table.
To amend the laws relating to wills; Regulating ana
fixing or increasing salaries Of emplOyesor officers "A
WV AFTERNOON SESSION
To authorize the SUPERINTENDENT Of the Poor for the
County of Kings prosecute all hands in cases OF bas-
ard and given ~ fsSGe
County; prohibiting the use OF steam on secondave.
made in tho Railroad Committee, which extended the
provisions so prohibit the OF steam or ocomo
was carried by 81 TO H. For the repayment of moneys
Illegally collected by the Health Commissioners.
THE MERCHANTS UNION EXPRESS COMPANY.
Mr. n RAY from the Select Committee 10 investigate
the affairs Of the Merchants Union Express Company,
submitted report, and the testimony.
Mr.. Hustled submitted minority report on the same
subject which was ordered to be printed.
The majority report reviews the history OF the Mer-
chants Union with the difficulties encountered its extor
lions from railroad companies and shows the loss to the
tOn than TO the Merchants Union 1t acqus the officers
of the Company OF any corrupt conduct IN manipulating
the COMPANY its earnings we're from
aud its about 5OOOOO 1t is estimated that 65 per
for loss of freight and 80 per cent for salaries rents
and taxes. Forty-iivo per cent OF tho expenses
railroads and costly litigation. Railroads In many cases
charged each Of the express companies twice as much
previously for company alone, and even greater
extortions were practiced The Committee think con
consents Of aoy OF the stOc6oders We're fairly
obtaned u does not appear that the officers received
holders; consummate arrangements became neces
sary TO reduce the -, number OF the Executive
and L. G. stork. offered to retire, but demanded
condition Of their Withdrawing from the concern and
now organization some compensation for the apparent
sacrifice Accordingly 100 shares valued at $4,000, were
shares valued at $4,000, TO Mr.. stork The Committee
condemns this act; condemns also the e1traya-
ganee and prodigaty marking generally the opera
Sons of the Directory finds no evidence showing bad
ia the Sg nD Of their not got up
sold out but 70 act as an independent orgalzaon
examined to enable the Committee to recommend with
confidence any change by egsation and, therefore in
view of the speedy adjournment Of the Legislature de-
cline to report by bill At future day some remedial
legislation may be suggested Public policy seems TO re-
for the benefit OF whom II may concern:
FH The Merchants Union EIps COMPANY and similar sg,n
es uOne franchises aud privileges Of incorporation nor tn.
stockholders enjoy the powers and protection afforded stockholders Of
SoaS iS9SSI cshoers are everay liable
Of Company member Of business partnership liable
TSS The stoei Of snb companies offered the Stock Board
may get into u. hand. Of TIs,pohass parties seIse M
dealing 10 express place the the Of clerks
poe the like in order TO avoid responsibility AMI personal Ia
Fourth As long a. the shareholder. OfeIPrss
secu than with corporation each stakeholder being liable the
Fa The system open objection Of close corporations The
Sesr mS. h Sa poe, and ra. There little
upon their compensation The real tnnea condition gvp
fa gambling 10 stOel Is offered.
@ purchasing Of property Or ,h. Us, Of tbs principal. By II.
and higher pee pronse source o. 9d ana pe1sa0 %
in an oes or huey capacity should be restrained By ttaiate
charges against the officers agents OF the Merchants
Union and particularly In reference to the purchase OF
certain real estate Broadway, New-York which the
witnesses failed to substanate The articles OF associs
ton by which organizations Of this character are formed
stockoldeF furnished with copy The Committee were
to make regular stated public exhibits OF business
showing the profits and loss; but considering the
dependence Of express companies upon railroads aud
OTHER competing interests for freightng facilities. and the
almost private character OF their business interest they
simply submit these suggestions and evidence 10 the Leg
islature and people The majority report signed by H.
Ray, G. s. Wright and Josiah 4. Miller.
The minority report says there said 70 be resduary
Of which Controller Allen IS Receiver from which, per
haps stockholders will receive $500 0O0 that luck
less stockholders have lost about three and half mil
lions Such extraordinary loss excited ALARM and 1t
was well nigh impossible to ascertain the facts The Ex
ecutive Committee kept all knowledge Of their operations
that on the minutes OF the Secretary a
resolution OF the Executive Committee granting each
Of the members andAorney 5000 OF stock also that
brokers were employed TO manipulate the stock market
getting of stock high prices and buying at low Stock