The New York herald., 1875-08-19
WALL STREET NOTES.
ANOTHER RAILROAD wAR-THE ERIE PROTECTION
CoMMITTEE-THE NEW JERSEY MIDLAND RAIL-
WAY PLAN OF REoRGANIzATIoN-REDUC or

ANOTHER RAILROAD wAR-THE ERIE PROTECTION
CoNIITTEE-THE NEW JERSEY MIDLAND RAIL-
WAY PLAN OF REoRGANIzATIoN-RE PRODUCTION OF
CAPITAL, &C.
The railway war, it appears has broken ont again,
and this time in a menacing form fop railroad
prosperity The writer yesterday shown a letter
from prominent banking firm in Cincinnati, in which
this ominous clause occurs: s:-''The railroads again
cutting ratesall except the Baltimore and Oho-and
tickets offered to your city New York; and re-
turn, good for thirty days for $40" Such ruinous
competition will of course hurt Ohio and Mississippi
c., c. and l. c. and particularly the Pennsylvania aud
New York Central railroads 1t is to be hoped that
such suicidal policy will soon be discontinued.
WESTERN TROUBLES
it appears ended If believe despatch from
Chicago, which says:-"The freight and passenger
agents of the Southwestern roads met in Chicago on
Tuesday and wisely decided to discontinue the war be-
tween them A tariff agreed on, substantially tho
same as that prevailing from April 20 up to the hour
of hostilities The passenger are raised from
Chicago Kansas City to s17 So and from ST. Louis TO
Kansas City to S11
CIRCULAR CERTIFICATES
There is a suspicious circular going the rounds in Wall
and Broad Streets which may be well for parties to
investigate before giving the power asked those de-
string (which in the end might prove vexatious and
dangerous The circular reads as follows
ERIE RAILWAY SHAREHOLDERS PROPOSED PLAN AND
ARRANGEMENTS.
The law preventing Erie and New York Central from
being under the control repealed last May
the Erie Protection Committee Of New York. having in
view the interests of shareholders, purpose procuring
order setting aside the election and directing
another TO be hed and thereupon, to place the Van
derblts in possession. The following for this
course are submtted:-l The Vanderblts honest and
capable the weathes railroad managers in America
Their ability has been proved by their advancing
dend-paying roads, and greatly increasing the
stock values of the same. Harlem, from cents per
share 1860 to 134 in 1876 Hudson River, from SO
l05 and New York Central from 90 TO 105 g. They
would have Erie run economically and honestly for the
benefit Of its stockholders, while their control would
reinspre confidence in the line throughout America and
Europe and probably enable to relieve 1t from the
meshes of litigation and advance the market value of
your stock from 60 to 20 cents per share
II you still hold the shares standing the transfer
books in your name, or any shares and approve the
proposed plan, please sign the suboned proxy at the
right hand margin, so that your name will end with the
word seal y and have witness sign at the left hand
margin Thercupon transmit the proxy in the enclosed
envelope by return post
The committee caution you not to dispose Of your
shares their information being that preconcered
tempt has been made upon the part of persons con-
nected with the management to depress the stock.
POWER ATTORNEY.
Know MEN THESE PRESENTS, that we, stock
holders in the Erie Railway Company do hereby ire
vocaby constitute and appoint Cornelius Vanderbilt
William H. Vanderbilt and John Livingston, jointly and
severaly attorneys and agents for us and in our
name, place and stead 10 vote otr proxy the
and any other election for directors OF the Erie Rail-
way Company and for inspectors of election any
meeting OF the stockholders of said company according
TO the number Of votes and upon the shares of
should be entitled vote, If then personally present
fully and in all matters perfectly uld act If
present. giving TO our said agents and attorneys and
each of them scvcray full power Of substitution and
revocation, hereby raying and confirming all that
said attorneys or either Of them may lawfully ddin the
premises, aud hereby revoking and making null, void
and of none effect all powers and authorities heretofore
given or granted IN the premises and all other matters
and things therein contained.
In witness whereof we have hcreunto set our hands
and seals this - day Of , one thousand eight hun
dred and seventy five
Mr. John Livingston is the same gentleman who
called a meeting Of the Erie Protection Committee,
short time since Delmomcos by circular without
date and when those interested he found TO
posses proxies To vote on only $50 shares OF stock
Mr. E. j. Randall will sign the Erie certificates here
after, In place OF Mr.. Smythe.
THE NEW JERSEY MIDLAND RAILWAY
IA mart OF tho Montclair Railroad Company had a
meeting Yesterday at No 90 Liberty street. for recon-
struction The committee were all in attendance
but it is understood that the following basis was agreed
upon for reorganization
First mortgage construction bonds secured by first
lien upon the whole property, and bearing per
cent interest with half yearly coupons, will be issued TO
the amount Of 500 600 OF this amount II proposed
TO appropriate fl75o 600 for new rolling stock
900 10 putting tho road bed In order and
continuing IL from its present terminus at
Monks so far out Greenwood Lake; 5000 900 TO
finishing the Caldwell branch far as Caldwell and
the balance to reserve for contingencies Bonds tho
amount Of sO000O bearing per cent with half