The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-03-24
ANOTHER CHILD OF ERIE DEAD.
The New York and Boston Express Company
'sG0ne Where the WOOdbine Twincth''-
Assets, 81 10000; Liabilities, S25O,0O

The New York and Boston Express Company
'sGOne Where the WoOdbine Twineth''-
Assets, 100000; Liabilities, S25O,0OO.
The bursting OF the Erie pNsSie has set loose and
sent flying about number OF lighter and lesser
bubbles which held on to 1t and kept anoat through
its imitation. One OF these light and airy things
the New York and Boston Express Company
originally started by for Fisk and Gould and the
Erie Ring, has just gone, as FISK would have said,
"where the woodbine twineth." 1t was started
couple OF years ago with funds furnished from the
treasury OF the Erie Railroad. It's business was
done by Fsk's steamers to Boston-the Mar
ragansett steamship Company, the Fall River and
Old Colony and Norwich line, the New Haven
ana Northampton Railroad, the New Jersey South
ern, the New Jersey Northern the Erie and
other railroads. Through the aid given to
1t by Erie it has crushed out several local
express and freight companies, but the recent change
In the Erie management has caused 1t 10 collapse.
1t has been known for some time that the express
company on the verge OF bankruptcy, but IL was
hoped by its friends to weather the storm and carry
on the business as usual The company had pur-
chased the express paraphernalia from Fisk and
Could and paid the price In bonds OF the New York
and Boston Express Company, to the amount OF SILL,
600 10 secure which they executed chattel mortgage
TO the Erie Company They having nothing to pay,
and no prospect OF better times ahead the Erie Com
pany forecosed the mortgage, and
THE CREDITORS OF THE EXPRESS COMPANY COULD
DO NOTHING
more than call meeting to consult Snd devise such
several sums due to them. Such meeting was
held yesterday in the law ONCE OF Redhcld Bar
rett, Nassau street. Mr. o. p Archer. Vice Presi.
dent OF the Erie road, called to the chair, and
business was about to proceed when an unlucky
scribe OF the Associated Press unroled his manifold,
and at once the suspicious OF some OF the limbs OF
the law were aroused Lawyer kedied sprang to
MS feet and declared that the meeting was private
one and related merely to bankruptcy business; that
REPORTERS WE'RE BAD COMPANY
and should be excluded, and ne therefore made q
motion to that eject. The motion was not seconded
nor put to the meeting, but Mr. Red1eld, by virtue
OF his position counsel for the creditors and pro-
prletor the office, ordered the press men out and
smut the door. the business transacted after
ward was substantially as iollows:-Mr J. ID.
bacon, rresldenv Of gne New YORK ana Boston
ment OF the assets ana liabilities OF the company
from which It appeared that the aggregate value Of
the assets or the concern Is set down at $780, 900,
while the Liabilities reach over $4,000 They owe
the Erie Railroad S171,0O covered by bonds and
sey Southern and New Jersey Northern and the
New Haven and Northampton and Old Colony Rail-
ship lines an aggregate OF $4,000. They owe the
Erie Railroad for transportation sec, 0O0 and other
carriers about $40, o00 and host OF miscellaneous
creditors $40, 600 and over. The total deficiency
will reach nearly TO $4,000.
Alter hearing this statement and talking matters
over calmly and tremendously Tor q little time a
committee OF three, consisting OF Messrs. Ingerso,
Shipman and Heyman. was appointed to confer
with the officers OF the Erie Railroad, to ascertain
what,
and TO report the result 10 the creditors at another
meeting to be held In the same pace and time on
the 9th instant. The committeeman and the small
creditors looked rather "olue', at the prospect
before them; and well they might, considering that
the Erie Company own $l9l, 600 out Of the $4,000
left by the exploded express company. The other
creditors may fight and exhaust themselves over
the remaining 5000, to be distributed among them
In lieu OF 100000 which they would like and ought
to nave. Mr.. Redhed appeared as counsel Tor the
small creditors, MIR. Joseph Laroque Tor the Erie
railroad Company, Mr.. Morgan for the Narragan-
sett steamship Company, and ex-Judge Green Tor
the New Jersey Southern Railroad Company. The
meeting was very harmonious, and, though fearing