New-York tribune., 1873-06-13
THE BRIDGE DIRECTORY.

A special meeting of the Board OF Directors
OF the East River Bridge Company, called by the Presi
dent at the instance OF the Executive Committee, was
held yesterday at their Office, No Il Water-st.'
BROOKLYN There were present Henry c. Murphy, Presi-
dent; Controller Schroeder, william G. Kingsley, Isaac
Van Anden, J. 2. Robinson, II. II. Wheeler j. >. 1.
Strapahan W. W. Goodrich, John H. Prentice, BerJa-
min f. Tracy, Judge McCue and Mr. Mouiton Ihe
Chairman stated the object OF the meeting The EXeca-
tive Committee, few days ago. when considering the
affairs Of the Bridge Company. thought 10 expedent
that the called together for the purpose OF
taking action in regard to collecting an instalment
from the stockholders or the Company. According 20
the statement OF there hardly enough
money in the treasury to carry them through another
months work. The amount OF cash in hand Ia $2l75O;
due on contract $43OO; due for rents, s225; due on
payrolls, $4,000; total which VIII tall due by the
end OF the month, OF about $4,000.
Judge McCue asked If there any use in making
another call for nstallment, aud whether tho cities
Of NewYOrk and Brooklyn had not been advised not to
pay any sums the stock held by them
The Chairman-Wc do not know this officially, and
never shall know it until make the call It is work
on the brdge-one OF the most important works that
ever was underaken-et the responsibility rect where
it belongs.
Mr. stranahan moved that 10 per cent instsment be
called for from all stockholders, to be paid on July l.
This would be. he said, the ninth instalment IL was
suggested that July l would give very short notice.
so nearly exhausted, reported, it would be rather
long TO wait till July l. understand" he sd, that
there Is not money enough go through the month"
Mr. Kingsley-rhere is not enough TO pay the
bills for the present week 1 would suggest that
early day possible be fixed, for il the money IL not
10 be forthcoming, the Board would be Ia better con-
dtion to ascertain the fact soon as practicable
Judge McCue moved rs an amendment that the in.
stallrnent be payable in week It was just well
to pay 1t In days in seven weeks, and then
the Company would know what to do.
Mr.. schroeder-I move TO lay the resolution the
table. It is well known 20 all or that the Common
Council OF Brooklyn has passed resolution ordering
the Controller not issue any bridge bonds.
don't mean discuss the rigat Of the Common Council
to take such action but do think that the Bridge Com
pany owe u to the city to show that their purpose
to collect nsallments from private stockholders we'll
as from the cities therefore lay the resolution
on the table in order TO offer the following:
Resolred That the er o1ico directors the cities
and the private stockholders Eho nave paid mp all IN
staments called for by tbe Company be aud they ore
forthwith 10 employ counsel ami % institute legal pro
nstallments stock held by them.
The Chairman-What will yOu do in the mean tmef
Mr. schroeder-If we show the cities that We mean
bnsnessthat we mean to take earnest measures for
collecting instalmeus from private stockhoders-there
will be no trouble in getting them to pay their share.
Mr. SchrOeders motion not being seconded, Judge Nc
Cues amendment TO Mr.. stranahans resolution, fixing
the 10Th as the time OF payment, adopted and the
resolution as amended CARED Mr.. schroeder's
resolution was then seconded by Judge McCue, who said
that he would like TO it amended that the delin
ouent stockholders should have time in which to
pay up the instaments due from them and be eligible
membership the Committee.
Mr. schroeder-I don't care how you amend the
lution only you TO show that you mean 20 make
private stockholders pay up just the the cities
Mr. Goodrich moved to amend by substituting the Ex-
ecutiye Committee who should be Instructed TO nstt
tte legal proceedings against delinquent stockholders.
Mr.. Schroeder inquired IL members OF the Execu-
tive Committee not delinquents past Install
ments and II 80. whether it probable that any
very sroug action would be taken by them TO enforce
payment.
Mr. Kingsley-I will relieve Mr. schroeders mind on
this subject to a certain extent 1 a delinquent
stockholder and / suppose it is TO whom he has
reference have always been ready 20 pay up wheD
Others did do ask that all should pay, but only
part the stockholders have heard good deal OF talk
about what was proposed to be done have thought
my duty to protect my interests both here and
before the legislature.
Mr.. schroederWould It have jeopardized your inter-
ests had four additional directors. who might
have become members OF all the committeesI
Mr.. Kingsey-It would have been in violation OF our
original agreement and there Is reason why condi.
should have been imposed private stockholders
have paid good fath, and see no reason why the
city should refuse pay because certain private stock
holders have failed to pay.
Mr. schroederI agree that the cities have no right 20
refuse payment on account Of the failure OF private
stockholders to pay. My ground OF refusal, If
actug for the cltes would be that steps have been
taken TO compel payment from dehnquents and such
steps ought 10 be taken.
Judge McCue-I agree with Mr.. Schroeder that some
action ought TO taken 70 compel deinQuents % pay
up lam a delinquent stockhOlder myself as regards
the last instalmeut l TO the meeting ready tc
DAY e. but was told that others would pay up and
didn't want TO be singular am ready now to pay all
within 30 days have been waiting TO see the fate OF
the Bridge bill. I agree in this matter with the re.
formers The bn ought not TO become law aud hope
the Governor win not siguit.
Mr. Tracy thought that notice should be given
dcIuquents before action begun against them; and
moved to amend, that the Executive Committee he
instructed 10 hygiu action against those deuouent
stockholders who snail not have paid up within ono
week
Mr. Schroeder objected to the matter being assigned
to tn Executive Cowmttee, IL 1t were composed Of do
lia0uent stockholders Mr.. stFanahan said he would
pay up II the resolution passed. Mr.. Schroeder
said he would accept the amendment, provided major
ity OF the Executive Committee wOuld pay all install,
meEts. Nj, IIaeY UGpgbI II ynA pasonable that pel