, 1875-04-19

Ata meeting Of ahe lrht mortgage hcudholdcn
Of the Chicago panvi{le d flnconucB Railroad,
held i'll Now York last "Wednesday, TO ycceiyo the
report Of the Committee appointed at
previous meeting 10 investigate tbs coudI-
ton Of tho road, there was p.ce-
ont fnll attendance Of tho bnndhoide,a
from Now York, Chicsgo, Baltimore, Boston,
Philadelphia, and other large cities. atr. Jnd.
son, tho pscaidcnt. Mr. Teuney, tho vico-rsssi.
cent Of tho road. who, as wns shown in THE
TRIBUNE sonlo tlmo ago. arc accused Of appropsi-
atins It to tlIcmselres Rud alt. Fosdck, cuo Of
tho two Justices, occupied conspicuous pea,s At
tho meeting; but tho othos Trustee, Mt. Flah,
whH absent, and wna Represented BY bis son. Tho
accuaed ofilcefa o. the proceedings Of tho meet-
lug showed. had not attended, it without strong
backlne. Tho meeting WAS called 10 order with Mr.
J. u. Dcnnison, VI lhl!adelpna, ~ Chairman, aud
tho tirrt bus.'eEs doLo wAa tile reading by Mr.
i. ". Hi, dokorer, Of tno Investigating Com
miitee, pamphlet which. In tAissy-stycM print
cd pagcH lot FORTH tue rcsults of tho Commt;tee u
labors. Tue rcEolt wns colrobolated by tho
state Of Affairs In connection With tbs road
which was set forth IN TmE TalpuNs at the time
Messys. Hammond md Drowu, tho lseceIvers.
had become nblc to report progress III tholr uorx
nfnonK tho archives Of tie railroad preserved
in It's offices in shiR city.
During tho roud1ng OF certain Parts Of tue
interesting document. the bondhofdess could not
resib, tho gloomy sniIo which lnvouutar,iir stole
over thcir ieaturcs. aud thlh Taa especially tho
case when the glowing circulars issued by hudson
| and Tonnoy lu aid Of tho nalo Of the lndinna
| binds came to lo read.
| At tho end al tie reading. Mr. FoHdtck, one of
the Trlstccs denied, with excited gesticulationB,
| that La had ever signed supplementary merit
| gage. and insisted that 1t was uono OF his bus-
ness whether there we're only 1o8 miles Of road
| fer which he had accepted truat deed for lao,
but. on tho question being asked, ''What arc
Trustees turf" alr. Fosd,ck turned very red In
tho face and sat down speedily.
| Tue ron Of Mr., Fish, the other Trustee, tried
to persuade the meeting that his fathor's sigma
sura OF the lroiaua tond circular Was not geuu-
inc, but aeyeral gentlemen present Bhowea toat
the, knew otlsEwise, aud tie young gentleman
| also subBled.
The report Of the Committeo was adopted,
| amid great confusion, bv large majority, anu
tho confusion increased to row Ulen gentle.
| man aross aud offered resolution cnbodylug 4
| vote Of csnsure on the 1rusteeH, and . request
| IT resignation OF thoir charge. Tho backing
OF ths otticess fougl. tue passage Of lhe rcsolu-
son, which was finally withdrawn by its moser.
After another fghs permission waA granted
Ut. Fosdsck'a attorney. al Walker. OF this city,
to give a statement, which ho did, atatipg that
| tbs TfuBtccH of road had ouly passive trust.
| and explaining the meaeurea he had taken in
CLicago to have tho Noal taken out Of the hanls
Of Mcssra. Brown aud Hammond and given to
! opa Of his oNn choosing.
! Mr Huiueknper read b draft Of an agreement
| to bc aiguea By tho bondho!dcss, in whicl. they
| pledge themselves to net In harmony, aud on-
| power oYmmitteo, to pc appointed BY tho
| PRESIDENT TO perfect scheme for tho purchase.
reorganization, aud operation of tho Chicago.
Danyllio 4 yiuceuuea Noad for tho benefit Of tue
boudholders, tbo Comtuittee 10 employ cnnn8el
aud take full charge, tho hondholdals agreeing to
pay an assessment, uos to exceed II per bond. to
be taken. Over this tho fight wA1ed long and
bitterly. Tho friends Of tLo oiicers pleaded tho
wisdom Of delay and the f~lIy Of fashucss. Ihcv
thought tho document ought to be Crln:ed. 4
week would make no difference. Evory poaBible
plea waH offered, with tue ey.dout inteution OF
gaining time. The bu01ho1iers, on tho other
hand, argued that immediate action WAS neces-
nary that : weok would throw tho road IN tho
hands OF Judson. Tenuby l. Co. Two attempts
| Were made TO pass resolution Of censuro on
MeBars. Foadck and Fish, but In tho confusion
uo.hing came Of It. At length, vote on Tho
| adoption of tle agreement was carried, the
| Chairman ntaflug that he would auuoulice the
committee rext morning. Tho mobtug than
| Adjourned.