, 1875-04-26

THE NORTHERN PACIFIC,

At meeting Of tho Di1cctors OF tho Northern
pacilo Railroad At Now Yotk City, Fridny after
noon, Gcn. George W. Cns8 tonaelcu llis rcsigna-
tlon as President Of tho Noad, to take effect
April IT, tho date Of his appointment ns Aocoiycr
by Judge Sllpnan. Judge Rice, OF Maine, will
probably bo eloctod to I'LL tho vacancy. Subso-
quontly thero was moo!lng OF tho Bondhollers
Committee Intended by Johnston Livingston. Of
Now York; William Window, Of Minnesota;
William Mcknight Of Pittsburg; Con. Stark, Of
Lowell; J. n. Hutchinson, OF rlilaaeluhia; mud
J. II. Dcnson, of Baltimore. Theeo gentlemen.
with ox-Gov. Coburu, constitute tho Committee
rs now formed.
Tho work Of the uloeting coas!etcd principally
OF al investigation Of tho liabilities aud axBcts
ns furnished by tho Company's report. by those
It appeared tint tho assets consist OF $50 miles
of tin.shed road, and over TO- 600 900 Of acres Of
tAud, while tie Ifnbllsttoa are mortgaEel bonds
to tho nmount OF $50, 600, 900, stock to tho
amount Of GEL, ,000, 600, wnicll was distributed
% n premium to tho bo,,ds, and loa:ing debt
Of loss thnn S70o,000. Of which s500.o0o is duo
to tho Directors oftho road. Besides thia thoro
ia e9,500,000 OF back interest due, which IL un-
classified, and which will probably he rcltn1uisl
cd by tho bonaholderb In their settlement of tho
present difficulty. After tho examination Of
their report. tho Committee discussed with tho
Of tho road. md tho best way out
Of them. Three plans vero prominent among
the many proposed: First to form an nsBocln-
ton Of bondholdcrs TINT might bo strong enough
to forec!osc tho mortgage and buy III The road
second, for the Doudho!tlers 10 exchange thcir
rnn clcnr n iIaht m tho hnain of nav eorIoH al
loana, and then later to effect second
third, 70 hold tho road built aud lantu earnod M
solo security for tho bonds now cut, to divide
tho road to be constructed into Acctsons OF rs
nIian nuI tn mnkc mn iHsuo nf bonds for each
aontinn to he aecurcl by TINT particular section
hHu tne 1nuus eutnct tIto"6a ~ 1'o a's'o1''
action haH Al yet been taken.
THE BOSTON & CHICAGO ROAD.
-, = 1.,.I C, At
f0Tca lie peelIlnn OF Lo"alo ofane anu others
and William III, EeWlAll aud others to bO iHcpr-
porated under the name or Boston l. Chicago
| .o1ioviro ronort.
4oto"'1s A1tu' A..
1Gs * FIJI LUG haya ec,, 9i @
thuen tl!ae ~ noasiR 1ao aa & , H. ~
tho NUMEROUS parties nreatn beiafa thens ahtl nave
n1anne4 tue subject ~ re1iion 70 tlia Mictchta o!
le state na carefully ~ they nro able TO uo Mofo man
D,o0o persons, many OF Nnnm arc Known 10 10 Rentle'
tnen Of grea Intelligence Of !ato bHsnasA experience
aud l!eh character, living III different seeons OK tAu
hiate, and representing ttn vnrtous interests, lave
uu!ted In urging that eomcthing should 10 Iohe by
tbs Legislature iorthWitb 10 secure cheaper ttansppE-
ation between Massachusetts, aud tls West.
Tle report then tnters upon tho OF eneaI
transportation y tae PEOPLE, and Pto1esas % say snas
tito great 9yHens Of roads from New foek w. Abahs
and buffalo, and via blngla'nton and Unntlfk 70 tht
lakes aud Chicago from philadelphia to f1o assa L4t
Lakes to Chicago, from baltimore % ny snkea nnu Oh
Of uter atates Than Massachusetts. ltcschinR thel
several ppta Of cpEnpqtt1p, tACy o. times o0nlp0tt