New-York tribune., 1874-10-20
LOCAL MISCELLANY.
FINANCIAL ELEMENTS.

FINANCIAL ELEMENTS.
,.EAKE, OPDYCKE co.'s sETrLEMENT-A RAILROAD
CONTROVERSY.
WaIl-s... was devoid of sensations yesterday
and the uctua tons unmarked by any special in'
cidents. No new failures were announced. nor were
there any Developments In those failures which nave
been noticed within the past week At the time OF the
panic the dry goods firm OF Pe9ke, Opdycke e. Co. at
Howard-st and Broadway failed. ". L. Strong, Nathan
Hobart, Cornelius N Bliss. Gardner r. Colby, and Ed
ward II. Ammidown. the Committee OF Creditors ap-
pointed at that meeting have recenymade report In
the main as follows:
Peakc. Opdycke 4 Co, having promp IL paid so per
cent of their Indebtedness In with in
terest from Nov l., 1873 pursuant TO an agreenem' %
mittee decide whether under the power invested III
by that agreement they should exact any furtnet
payment. Upon careful examination OF the remaining
assets OF the firm, after payment Of the last nsalment
it apparent that there was not surplus enough 10
pay the additional 20 per cent. and that the amount
which could be- realized would depend very largely upon
the formation OF firm TO succeed 10 the business
With these views Committee entertained PROPOSE
ton received from Mr. the 1st OF October for
final adjustment OF the affairs of Peake, Opdycke Co..
First: That all should be promptly
Second That by agreement among the partners ,he
entire assets OF the frm as well as OF al the preceding
firms of Peake Opdyoke CO. and William m L. peasG rs
lease the OF the special and all other general
partners, should be transferred TO william leahe
aud that he should place such assets In new partner
ship which should be satisfactory to your Committee,
and that he should continue IN the dry goods JoDDing
Third That the entire estate OF William l. Peake, real
and personal should at his DEATH after the payment OF
$50 to his widow devoted the payment OF the
remaining 90 cent and interest with the privilege OF
canceling the whole Indebtedness by paying o1e haf
thereof making in all 30 ceuts, and interest at any time
during his lifetime or threeeghths Thereon, making III
all 8i cents and interest," at any time before January l.
1880.
After careful reflection and consultation by the mem
bers OF your Committee among themselves, and with
large majority OF the largest creditors residing IN new
York CITY, and finding dissenting voice. your Com
mtee concluded to accept the above prop0sltlon ana
have executed the necessary papers 10 make 'ne se'o
ments binding.
Statements having been made that the Chesapeake
ana Ohio Railroad Company had not compiled with
the requirements OF their charter in not building the
road 70 the Big Sandy River stipulated but had CON
sructed the road to Huntington point eight miles off,
inquiry was made at Official sources resulting in the
following statement:
The fourth paragraph of the "act to provide for the
petiOB of q ue lines of railroad from the waters
of the Chesapeake to tho Ohio River declares that 1t
shall be the duty OF said Company. within SIX years
after organization. complete the road from Gov;
iDgOn to the ONO River III style aud with grades ana
not inferior to those adopted by u;
b. Fisk late Chief Engineer, in his report and
plans Of said work. and that they may
the of Big sandy River the mouth Of
Great Kanawha River as tho Ohio terminus or may con,
sruci branch of their road to both points" When the
Company completed their road TO the Ohio River at
time called by their they had fully com
piled with the law and the contract III regard to me
completion of the road from Coyington to the ONO
River.
The new Board OF Directors elected the following Off
GERS of NewJersey Southern Railroad yesterday
President C. j. Osborn Secretary and Treasurer. e. r.
Moresni; Executive Committee, c. ]. Osborn. S. NJ.
Mills, Edward c. Taylor, Nehemiah Perry, and Edwin
Edrdge.
The Gold Exchange elected officers yesterday.
The annual election OF officers OF the Gold Exchange
took place yesterday The following were the regular
nominations and with one or two exceptions in the
committees they will be elected
II, 7.
Second President b. WhtemOre Treasurer H. Edwards
Secretary, VIM p Westcott
Executive Underhl John A. George H.
Kennedy G. o. Morris William Fitch G. A. Buttck, H. H. Moore
james turpbey. G. 4. NeNbOli.
Finance Conmtee-E Balm Jas segman. Geo D. Arthur,
w. Hsrman Brown, L. Christian Meyer
Chairman; {. o. Baker
J. Walter Wood. Jos. Il. Tucker, ID. J. King
Committee ssmlssOnsNm b. saDcon Heber Dunham, COd
land, NJ TAYLOR Wm r. umbsrt Horace Manuel c. W Keep H. L.
FaTis, {. knODauch, H. j. Purton