The New York herald., 1875-11-02

Dundee whom nc mplored not TO take separate action
would allow the committee 70 90 on 10 theif own Way,
In a couple Of years the nTst consolidated mortgage
bonds would be worth instead OF, as now, 10 Dut
II they pressed their their stock would not be
worth 90 He concluded by moving the adoption OF
the report Of the committee Of bondhoders ana share
holders and in doing urged Them 10 be unanimous
in whatever decision they arrived A. loud cheers
Sir {. BEADoN Of the committee having formally
seconded the resolution,
Mr.. G. HoMAH said OF the committee referred to
by the Chairman had had any communication with Mr.
Mcenry as 10 his negotiations with respect to the Erie
Railroad.
The CHAIRMAN said he entirely accepted Mr. Homan's
statement
SPEECH OF Mr.. NORRIS
MT MORRIS, who cordially received, then ad-
dressed tho meeting In the course OF his remarks,
ater referring TO the circumstances under which the
committee was appointed and which led up to the depu
taon gong out 10 America he sand he had had sIvus
experience in these matters-alludng TO the 6rahu
Trunk Railway Of Canada and the Great Eastern al-
way-and u was insane to enforce legal proeeeulhsa
without IN the rst place trying concession what was
required IN the present quiet and peacei9 ne
gotiaons, and they had established IN New ork IN
p0rtant relations and most satisfactory n, aoIv ~
lcheerSD AS TO Mr.. Jewett they must Juuse nm w
results He believed there was no doubt ABOUT ihaAns
the Erie Railway produce Annually t oe,~Scn ,st
$4,000 coo and 500 100000 OF gross rahc ana .nas
1t could be worked at rate when %oua aao sug% 9S
net return OF from ST. 900, 600 70 SaoVuOoU 1has
would be the result OF their all acting together anu
placing the affairs a thoroughly sound oass Ine
line had not TO be made; IL had indeed any amount ~
traihc, providing was only dealt with properly ~
believed it the interest Of every single
the company that the programme set iorth oy lhe
committees should be followed He concluded BY urg
ing the importance OF selidenia ana, above an tno
necessity for united action. Loud cheersl
Mr. CoSYBEARE re echoed the remarks OF the Chalr-
man "a 10 the Atlantic and Great Western and the Erie
working harmony together AS large bondholder
he urged the importance OF unlon but sad there wouu
inevitably have to be foreclosure, which, for the oene
fit Of all coneorned should be friendly foreclosure.
The CHAIRMAN put the resolution for the adoption OF
the report whicn he declared carried unanimously,
amid cheers He then moved the next resolution as
follows:-
4 coMmrrEE or CONSULTATIONS APPOINTED.
That Committee Consultation be appointed in ac-
cordance with and for the objects set forth IN the memo
randum signed by Mr. II. J. Jewett and Sir T. w Wat
kin and dated the 9th Of September 1879 and that the
following gentlemen be constituted such committee,
NJ p, Sir {. Beadon, Mr.. A. X. Cross N. r, Mr. B.
Whltworth N. p Mr. Westake, q c., and Mr.. Ii.
Rawson, Of Manchester, behalf Of the 6ondholders
and on behalf of the shareholders Mr.. r. Lagan, NJ
p, Mr.. J. NJ. Douglas Mr. Leemng, NJ. r., Mr.. W.
Weir and Mr.. G. Smith.
Sir c. BEADoH formally seconded the resolution.
The CHAIRMAN, in reply TO question, said the
held and represented by the gentlemen he had
named 81 OO0 600 sterling and they held every
description OF stock. Cheers He then moved that
Mr. Conybeare and Mr.. Miller be requested to allow
their names TO be added 70 the committee" cHear,
hearl'1
the resolution, with this addition having been car
ried unanimously,
Tho CaARnAS moved, and Sir G. BEADoS seconded,
the next resolution:--
hereby instructed prepare, with the assistance Of
such special representatives Of any separate class as
may be willing to cooperate with them, scheme Of
reorganization Of the company and submit the same TO
a future meeting Tor adoption"
The resolution also carried unanimously after
brief discussion TO the title OF the committee.
A cordial vote OF thanks TO the Chairman and Mr.
Morris then proposed, seconded and carried unan
mously
The CHAIRMAN in rcpIy, said at the earliest possible
moment they would have the balance Sheet and would
then prepare the scheme TO be submitted 70 the future
meeting referred 70. HIS hopes had certainly risen by
the unaniInitv displayed by the meeting
The proceedings then terminated