The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-06-13
THE BROOKLYN BRIDGE.

THE BROOKLYN BRIDGE.
The Money Misunderstanding InstaI-
| mcnt Called for This Month-Dclin-
| Gucnt Stockholders To Be Prosecuted
! Special Meeting Of the board Of Direc-
| tors.
There was special meeting OF the BROOKLYN
Bridge Company held at the Office, 81 Water street
yesterday. Senator Murphy, President, occupied
the chair. The President stated that the object Of
the meeting was TO call for another instamcnt OF
the stock, as the funds were getting SO low that
there was barely enough money on hand to carry
the work through for another month
Judge MCCUE asked whether there was any spe-
cial use in making cali so far as the two cities are
| concerned?
The CHAIRMAN replied that III this work is to be
| mpcded or stopped we snail then know where the
responsibility rests"
| For the purpose OF bringing the matter before
| the Board Mr.. JAMES :. I. STRANAHAN moved that
an nstalment OF ten per cent be called Tor, payable
July l.
/ MIR. W. c. KINGSLEY remarked that they had not
money enough TO carry the work through the
week, il the bills which have become due are to be
! PAID
Mr.. FRANCIS d. MoULToN suggested that the In.
stalment OF ten per cent be called for day
named by the Executive Committee, and Judge
MCCUE orered, as an amendment, that they make
! ii the 10th OF June 1t was just as well to make 1t
seven days as seventeen, and they would then
| know whether they are to have the money to 20
| on not.
| Comptroller SCHROEDER moved to lay the matter
on the table, and SAID lit Is wei known to most
| or you, gentlemen that the Common Council OF
this city have passed resolution directing the
| Comptroller not TO issue any more bonds for
this enterprise. l don't wish to discuss the
right OF the Common Council to pass
| such resolution, to withhold the pay
| mcnt OF due Instruments from the Bridge
company; but do think the company owes 1t
the city Of Brooklyn to at least show as far as 1t is
able that il means to stand by the conditions upon
which the city OF Brooklyn subscrbed-thaJ Is, That
all instruments should DC payable in proportionate
paymcnts--pro rata; and | think that in order to
show that the company means to stand by those
conditions that some enort should be made by the
directors TO enforce payment OF the installnents
due from private stockholders. l therefore oner
The following resOIutioD:-
Resolved That the er-gbio directors OF the
and The private st1e~o!der who have paid up all ipst
by appointed committee authorized forth
aranss ali aaasmt "ekoaers in od. to ree""er
| stock held by them
and renew my motion to lay the resolution call
| ing Tor the ninth instaiment on the table Tor the
present.
Mr.. MURPHY asked, "Wnat are we 10 do in the
meantime ~ Tne Comptroller replied by saying
all OF the stockholders snail pay up-t would then
be demonstrated that IL means TO stand by The con-
uitlOns on which the city OF Brooklyn subscribed,
and that the stockholders win pay up ii THAI res0.
luton be adopted The resolution or Mr.. schroeder
was not seconded The motion Of Judge McCue
fixing June 10 for the payment Of the instalment OF
ten per cent was then adopted. 'For the purpose
Of bringing the matter before the Boardn Judge
McCuc then seconded the COmptrOer's resolution.
comptroller SCHROEDER was willing TO modify the
resolution SO long as the principle Is provided for,
as long as IL shown TO the two cities that the
private stockholders shall pay up well as they
and that the Board will compel them to pay up as
far as lies in their power.
Mr. ". W. GooDRicH moved it's reference to the
Executive Committee ana that they be directed
10 take action.
THE COMPTROLLER desired to know whether that
committee did not consist OF stockholders who
were mostly delinquents.
Mr. KINGSLEY SAID can relieve Mr.. Schroeder's
mind on that point by saying that am dnnquent
TO q certain extent-about equal with the other
principal stockholders or this company. My posi-
tion has been wen known; mat am ready to pay
my instruments at any moment, when the other
principal stockholders do II that are supposed to
have the ability to pay. am ready any moment,
and expect to do IL, but do not intend To make 1t
q condition that all OF the stockholders shall pay.
have no doubt that IL was originally the inten-
ton OF all the stockholders to pay mp, bul saw
that effort was being made TO impose unjust
The CoMr TRon Err asked NJ Kingsley would it
have jeopardized his interests II four additional
stockholders hail been appointed who were also TO
act members Of committees
MI KINGSLEY said his opposition was because IL
was not part or our original agreement Why
other conditions should be imposed upon priv ate
stockholders ana why other conditions should not
be imposed upon the cities am not able to under
stand. am perfectly willing, as a stakeholder, TO
go on according to the original arrangement and
pay my instruments aud make the same point IN
regard to the cities. My stock depends for It's pro-
lection uDOn what the cities may do. In regard to
myseIf In order to set the matter at rest, I say
that am willing and ready ut any moment to pay
| as soon as the other principal stockholders do
those who are able to pay.
Comptroller SCHROEDER was opposed to paying
| on behalf OF the city because no steps have been
taken to enforce payment from all parties alike.
Judge MCCuE agreed with the last speaker. He
| was ready TO pay all the instruments required OF
! him to-day or tomorrow, and had been waiting to
see whether Governor Dix would sign the bill or
not. II he refuses sign Ii he was willing to pay
IL he w0uid not be willing.
The resolution TO proceed against delinquent
stockholders one week hence and TO enforce tue
| payments OF all instruments due was referred 10
| the Executive committee.
The resignation Of Senator Murphy was then ten.
| dered ana accepted. Mr.. J. g. i. Stranahan was
| chosen chairman pro tenn.
The Bridge and the Fifty.
! The Comptroller OF Brooklyn, +. A. schroeder,
| has addressed note to the Secretary OF the Rink
reformers in reference their address TO the Gov
ernor concerning the Bridge bill, now awaiting the
| signature OF His Excelcncy. The amount OF bonds
issued by the city for the bridge is 81 4000 The
| authority IL conferred on the financial officers OF
the city by the laws of the State and the ordn-
| ances OF the Common Council. The Comptroller
states that he IL not at all alarmed about having
pant the instruments on the city stock they
called for although he believes 10 to be his duty to
| use any proper and legal means to make other
subscribers pay as promptly as the city does.
SUNDAY SCHOOL FESTIVAL