New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-08-11

but payment having been inside therefor IN the
cost ad Dot eSceed Therefore this
piece of road Of the value Of is all that your Com
psny received offset the assumption OF an
ness of SSooocO It Is probable, however, that at the
same two locomotives were receiveu' tmamSed
nayment therefor from your directors who resolved 70
make two OF the Company for 5000 each III mr
meut OF such claim and which notes Weie Paiu W 'N
present managers
A STEAMBOAT CONTRACT.
On Jan. 8. 1870 your directors entered ln'o 0o".
with Messrs Ryder, Roelofson Haskin by winch 'ho'o
persons agreed to furnish steamers for the
of all passengers and merchandise between Vaelo anu
San Francisco that were carried over the California IA
ciec Railroad This contract was immediately assigned
by RYDER Roelofson Haskin TO the California faclnc
Steamboat Company and on SGt H. ~ U SSc ompaDy
under this and their steamers ana Darges anu
to pay therefor fol s 5000 i B. ss limited
Cancellation Of Indebtedness due by Steamboat company DOL IL
TO California Pacific Railroad COmpsny.'''''" <9a d9
Coal bills due by steamers 20 9V9 90
Mortgage steamer Ioooo w
vonr company received
Steamer YsM ora y,a.d $4,000 90
sseansI Na.i?o, vsiDs A. .............. $1,000 20
Barge
y1H , eses mentioned that by the Of
the contract for the construction OF the california a
cinc" II the line should be complete before tne ti
therein mentioned the contractors had the ptveee, t
they so desired of operating the same at their own cost
and takiDg to themselves the prohts lnereIl. n,nv
Messrs RYDER Roeofson Haskin evidently ava I6o
themselves OF this privilege. because on June ~ aS
agenent. sno wing a balance against the Company OF
s570 90 Aud on the same day the directors MssRn
owed the London and San Francisco Bank un5ioIIW
on o.% s note S sand sand FSp On co their
management OF the road for taxes, sSOVs, anu iVl
grain destroyed by fire and other claims sSyo more, IN
der by said Ryder Co. OF one of the Companys notes
for S25OOOO in hands of Milton s. tham ana also
for 20
aforesaid the Company agreed to assume me ndepou
ness OF said Ryder q Co. 10 the amount OF s2SOooo
A MILLION AND A HALF OF INCOME BONDS.
On March 81 1871 your records show that there was
meeting of directors, only five OF the nine directors
being present The purpose of tho meeting was stated
TO be TO decide on the and form OF income bonds
The object OF raising money being to construct ana
equip certain additions TO present railroad, ana 10
of it," and it resolved: That bonds 10 the amount
Of 63Oo,cOO sterling, bearing interest at the rate
OF 10 per cent per annum should De lssueu
and that the entire "income and receipts"
OF the road be pledged for their payment
do not nd that proceeds part thereof were
used carrying out The object for when II was saiu
that the bonds were made and your books are ehrey
silent as to what disposition made OF their proceeds
1t is however certain that they wIe negOtlateu, as
your present management has as before stated psla
TWO installments OF them for 100000 eacD 1alng que
respectively the first days OF January 1873 ana 1874
and there Is now outsandng ana unpaid OF Is Seie1
doubted that the money derived from tue SAFE
OF these bonds been used carrying out the aVOwed
purpose their the disasters TO your road in
the Winter of 1872, and which so seriously aHecteu your
interests would have been avoided. Although these
bonds on ter payable in series OF 10000 EACH
first day of January OF each year. yet u Is pro-
yided IN the resolutions pursuant TO winch they
executed, that default III pay ment OF interest Tor
period of 80 days shall render the entire principal SUN
The former management of your road purchased the
steamers OF the California Steam NaviGaton Company
for the OF 100000, and gave IN settlement three
nO''' u ''0' 0'''f'"' $3.50 900
225,OO0