The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-01-09
THE new HAVEN RAILROAD.
Missing FundS-What Has
Become of Them?
ELECTION OF ANEW BOARD OF DIRECTORS.

IIEVIIUN VI n w w OVVtO VI VHsIOiVss0'
NEW HAVEN, Jan. 8. 1879
The first annual meeting OF the stockholders
of the New York. New Haven and Hartford Rail-
road Company since the consolidation OF the two
roacs forming the line between New York and
Springfield, was held in Brewster Hall, In this city,
to-day. Immediately upon the meeting being
called to order by President Bishop motion was
made to proceed to ballot for the election of q
Board OF Directors.
Mr.. GOODWIN, Of East Hartford. hoped the motion
would NOT prevail, as there were some facts ha
wished to call attention to In the Directors report
that were not generally known.
The mo ton was Withdrawn, and Mr.. Goodwin re-
marked Last year he had attempted to make
some inquiries into errors but the meeting was adj
journed before he had time TO say what he wished.
He said an auditor had been elected by the
stockholders to audit the accounts, but he did not
Naa so s sns p1 the
OF expenditures did not appear III the report; nor
the amount paid to the Harlem company a. Tor OF
that explained And 900 shares Of the stock were
put down at 500, when the market value Is $139
s14o which would make difference Of about iorty
thousand dollars. The real estate is put down at
$70O000 1892, 900 more than the previous year. and
there Is no account OF any real estate having been
purchased. 0ne-iiith OF the gross earnings of the
Harlem ROAD came from the New York, New
Haven and Hartford road. lie thought the road
was run more In the interest OF Vanderbilt than OF
the stockholders. In conclusion he offered
luton appointing committee OF inquiry to report
by March B.
HENRY q. ROBINSON, of Hartford, remarked on
the resolution. He thought the President could
explain to the gentleman from East Hartford.
Mr.. BISHOP said that in regard to the deficit that
Mr.. Goodwin claims to have discovered, he did not
know. bookkeeping he was not familiar with.
That Is lett to the Treasurer and Chief Clerk who
audited the accounts and found them correct He
thought II Mr.. Goodwin would talk personally with
the Chief Clerk he would be convinced of his error
pany in our reports, and never nave. 1t would
make no difference in the accounts ii we did. The
amount we pay the Harlem road is their share Of
the earnings Of the road. In lS4s perpetual con-
tract was made which provides that the rates are
subject to Adjustment every six years r by
which the contract requires us to pay,
whether too much or whether too it
city OF New York. The Harlem road have been to
enormous expense, and in the two years to come
as required by the State of New York. No new
railroad from Harlem River to New YORK city
Sad Ss o my 5
tract is favorable one do not know. 1 know OF
no way we can get rid OF 1t. me company mas
ing to the gentleman from East Hartford. Should
the oiicers he blamed because 1t is nineteen per
wsa e @ Rsf e is
mute usual, owing to the consolidation. The
oficers decided to make general report, and then
next year report can be rendered sufficiently ex-
plict TO satisfy even the gentleman from Hartford
Mr. BgRs.LI President OF the ola Hartford Com,
about an old litigation between the Hartford and
New York roads, which was settled by the CONSOLE
dalton, and thus the accounts OF the roads were
changed. ns,. =. .rtl gs
Il was moved to table the resolution.
Mr.. ROBINSON remarked that 1t was but Justice to
the other stockholders for him to say that Mr..
Goodwin had been vigorous opponent OF the
aa d ser e h Ssa
purchased ten shares OF the stock to enable
him to appear in these meetings. Mr.. Robin
but but the ne gentlemen is doing ali al this 70
make capital OF in the next Legislature,
Am me- s"G and applau s Mr. Goodwin rose s to
personal explanation and went on to tell what
years ago He was called to order. dc then rose
TO . question Of privilege, ana La, appealed to the
the motion to m sne was seconded ana de-
cared not debatable, and carried resolution to
advise the directors TO declare quarterly instead Of
about to be voted upon by shares, when the mover
withdrew his motion because the hall was SO cold.
with the number Of shares Of stock vosSd on:--'r
The s wa regressnssd was sS4Sa shares Of
n Miller lin place OF Carhart, now in Europe.
Chester W. Chaplin, A. r. Van Nest, Henry G. Rob-
nson E. BOND T. bead
number; William D. Bishop and c. Vanderbilt 10
less; Horace +. Clark, % less, and Marshall Jewell
10. The hrst thirteen mentioned were declared
It was moved to accept the report Of the d.
rectOrs. s .s- i fttIT
Mr.. GOODWIN moved to amend by inserting 'not''
and recommitting In the course OF his remarks
he reiterated his charges against the management,
which provoked vigorous reply from the Chief
Clerk, and warm c<iticism from Mr.. Wheeler, Of
Bridgeport Undaunted. with one hand thrust in
the breast OF hts buttoned coat. Mr.. Goodwin bore
It as the nrst Napoleon can be supposed to have
stood the heat OF battle. r,, ~ t. ~
the amendment vas put and lost and the origi-
nal motion was carried.
! A stockholder deaired to know why the new
stock had to he countersigned by the Secretary of
the New York Trust Company. He was informed
and all stocks had to be registered with some WE'LL
known house before they could be sold at the Stock
Board.
The meeting then adjourned.