New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-12-16
LOCAL MISCELLANY.
MISSOURI PACIFIC TROUBLES.

MISSOURI PACIFIC TROUBLES.
MEETING OF ACKNOWLEDGEMENTS AGAINST iih
PRESENT ACKNOWLEDGEMENTS TO DLsPLACk
THE DIRECTORS.
A meeting of the stockholders Of the Mis-
souri, Pacific Railroad held yesterday afternoon ~
No 20 Wnliam-st, Robert L. Cutting r.. presiding NJ
A. Cowdrey on behalf OF the Committee appointed at
recent meeting protect the interests OF the stockhod
crs. read long report from which tho following Is
taken:
Your Committee sent printed copies Of tho resolution
passed by the stockholders on the 9th November To each
Of directors asking them to resign ana 10 eject Stock
holders IN places This they declined 20 do, aleg
Ing through their IN e e3 a b
falsely expressing doubts to you and ourselves being
ocsLoders or representing Stockholders. VIXEN the
books OF the Company, which have reason Ia think
they had closely examined, would give them cumulative
evidence OF our claims Tho directors OF tue Company
who 50 ogotiseay ambitious to manage your prop
ery for you against your expressed wishes on inc yin OF
November. 1878, owned stock In your Company TO the
total amount OF 2O3 shares at present market price 'H
The present directors claim that the large increase OF
debt, say VI 800 900, has been expended upon tile ROAD
in bettemens and procuring additional property WINE
this may be true to limited extent we do not tnink Is
true nearly true as u the great bulk oil the
increased debt with all this increase OF debt the earn
have not Increased over what they were Whe ana
before the present management came into possession OF
the road II true they claim the net earnings nave IN
this matter of account, and depends, 10
large extent upon the method OF making up he ac
it is that each year they have Increased
the debt Of the company INT Is true nat our popery
has been improved as much rs tlo present man
asement claim and that they have have S Ssen lsS
examination by expert accountants VIII SHOW IT,
but long they refuse To let Us make sueh an exam
inaon and insist upon keeping tle cohtioi OF he toSS
holders property against the expressed wishes OF tS
stockholders. their actions create dstrst a. 10 the mo
tycs, particularly Whcn IL Is SHOWN ~ sIA VI T
Wits of responsible and respectable citizens OF the otae
OF Missouri that the property is IN Dlt Hti1 any De
ter condition than Wheu they TOOK anu Wicn ~ 40
charged by tine County OF 81 Louis wnic Is inc largest
Thar There have been great Irregularities in their
management II Is also asserted by those familiar win
made subscriptions TO large amounts OF bonds ~ row
price, not TO be paid for until the bombs IS
were sold at a higher price-in the ease OF
the second mortgage, which was not sold until the
present came into power said to be as large
when the bonds sold at 80 u 80 per cent ana TO
parties 100000 each. upon similar principles vi
course this and other transactions are s stated ihey
be compelled to account 70 The company anu teiunu
moneys Inusy got or withheld iTOm the company
but If they are allowed control both sides OF the case
they do the foreclosure proceedings, WHAT VIII W
for the stoekholdersi The stock at th,s time wds
selling al 100 10 per cent Why, then. sell bonds at
hVding M 'C aTondelet branch they bought new
iron rails and laid tie same in the track OF the
main line. for which they issued income or improve
Herewith the Cirondolet Branch and issued 10 them
selves 100000 bonds therefor accounting To tAe Com
pany al to per cent, S33O,O00 Various irregu
aiirs are also charged in the purchase ana naThs Oi
the equipment and making rings, and synicaies Tor
handling freight. &c, sc. 1t is also charged mat tley
have been III The habit OF using the name OF tie Missouri
Pacific as makers and Indorser Of notes ana oDgaions
gwen tine debts " the Atlantic Paciho ahd t!at ee
such pretended obligations now Outstanding W"
large amount. -, $500, 81
lnc Committee think that all the accounts aud dolngs
OF me Company should he examined closely ana the lacLs
reported stockholders, and II tine charges be true
that suits should be commenced 10 recover BACK such
money as has been wrOngIuly taken from the company
and TO null and void ali mortgages as they nave
been wrongfully made upon the properly. mat the
lease TO the Atlantic and Pacific Railroad Company
should Cancelled, and such damages obtained Tor a
breach thereof as may be just and right under The CIR
cuInstapCcs
The report was accepted and Il. L. Cutting r W. H.
Morel, and f. A. Otis appointed Finance Com
mtteo and it resolved that the stockholders should
be invited pledge themselves to pay onequater OF one
per cent Oh Of stock to defray the necessary
Ie xpcnses obtain the control of the road 1t was
also resolved that they he invited to sign petition to
the United States Circuit Court OF the Eastern District Of
Missouri to call meeting OF stockholders for the follow
ing purposes:
TO request ana accept the resignation OF the present
Directors O Tie Company ana IN The event OF thelI re-
sng 10 resign, then remove them such Directors
10 elect Directors to I'LL vacancy that now or al any
Subseducnt time before at SAID mectng, may exist IN
tie Board Directors 70 direct suits to be commenced
against and all persons whom the stockholders may
consider be indebted, manner whatever 10 the
/ Company. adopt such bJ laws. or amendments 10
existing the stockholders desire To cancel
me lease their railroad. made TO the Atlantic and
Pacific Railroad upon such terms as the stockholders