New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-07-11
RAILROAD AND TELEGRAPH NEWS.

TIT AXE SHORE DIVlDFND-THE TELEGRAPH COM
BIvArIoN-MIDLAND RAILWAY REORGANIZATION.
The Lake Shore dividend and the new tele-
graphic combination features in the current discus
sion affecting the stock market Whether the Lake Shore
COMPANY will declare this dividend is yet unknown
one OF the officers the Company said yesterday that
no meeting had been held yet for the purpose OF de-
clarng a dividend, but such meeting would proDaoiy
be held in days The desire was TO declare
the usual semi-annual dividend Of four per cent
The earnings had not been up to THIS inquire,
however and there might be desire to postpone the
dividend for month in order to pay the regular rate
He believes that dividend based the earnings would
be paid but Of course he could not state this postye
prominent stOckhOlder said that the directors would
probably declare quarterly dividend of per cent
one OF the Erie directors prominent in the organiza-
ton Of the Geographic combination, said Yesterday
that for twelve months past efforts have been made to
unite the organizations competing with the Western
Union The project had not been successfully carried
ont In respect 10 union Of all the companies, but the
extension OF the lines Of the Atlantic Company would
very probably hasten the negotiations now pending.
The principal obstacle the union OF all the outside
lines is the attitude Of the Atlantic and Pacific Telegraph
Company Misrepresentation has grown very steadily
and the officers laugh at idea that they likely to
e,ter into any combination They state that their sue
cess has long since been assured and that they VIII
enter into no combination like the one proposed.
The following were elected officers OF the Franklin
Telegraph Company at an duJouiheu Hcc'iHS " '""
Board yesterday W. ]. syms, Presidents j. IT, Harris
Clerk; Edwin T. Mackay, Assistant Clerk.
Messrs Barring Brothers, the London bankers have
notified 20 their correspondents IN this country that
forged letters credit have been discovered II Europe
and have urged them to be their guard against the
swinders.
meeting OF the first mortgage bOndhOlders OF the
New-YOrk aud Oswego Midland Railroad Company was
held Yesterday afternoon at Room No "a, Cooper Inst
tute The meeting was called 10 order by l.. II. Meyer
who after some explanations, read the report Of the
committee OF which he chairman. They had been
appointed TO draw up plan for TIE reorganization Of
the road. The report drew forth long discussion,
which was participated In by Messrs. Blennerhassett
Uasser Meyer Opdyke, Risley Of Utica, and Others,
most OF them expressing dissatisfaction at the In
de1niteness Of the plan, at the issue OF priority
hond- q" which IL was feared might eventually take
The road Of the hands OF the first mortgage bond
holders. Mr.. Risey advocated an immediate enort 10
rave tue OF the branches OF the road extending 10
Aug 2S &. W. Hassler drew map or the road on the
BLACKBOARD aud endeavOred 20 show that the retention
Of branches not necessary ior tue success OF te
road III Bennerhassctt urged that some more definite
nan should presented TO the bOndbOlders and adYO
Gated a union OF interests.
There have existed three parties OF oondholders
knoWn respectively the Stevens the OpdyKe aud tue
German Meyer parties, who have used thelr strength
tbsr In imposing another than IN protecting the
united interests OF the FIRST mortgage bOhdhOldtrs
Tud0e Ia we presented resolution tdt TIE report OF
tbe Committee be received and the Committee dls-
"a Committee ana MessTs. B.ennefhassett Hassler
U,YSe aud Young be empowered 10 eX
anime the road with the aid OF experts T, anu
report possible dehnIve pau d,,a5 alter
considerable discussion MI Opu!Ao Ia az MI dr,n
Bennerhassett, aud said Wen, We mSn' ~ W" STtis
ali onr dIurreuces now" and they shook hahds. ms
80 ~ r,ird as an indication that there would De
aalOD VI inerests which wonid MATERIALLY a"SS' al '4o