The New York herald., 1877-02-08

not have to provide any part Of the interes. Of m
wikesbarre honda Mr. Knox could not remembe
niary successful as the previous eight months OF h
year.
when We know that there Is no doubt the required
amount viii be subscribed but until We do know u W.
arc in tho dark IL Is my opinion, and many others
through the existing dilemma
rnE LOAD FOR oSE MAN
Herd Mr. knight interrupted the speaker by saying,
81 caqt assist you unless l am helped. "
Mr. Almbrie then moved that a committee OF hve,
with Mr. kneht as its chairman be appointed BY ne
CHAIR, 10 mako examination OF the books oil the
company and report TO tho meeting as soon as possi-
BILE Mr. knight declined serve on the committee,
but offered 10 assist the gentlemen composing All nc
could.
AN INVESTIGATING COMMITTEE
The Chair then appointed tho following gentlemen
as the committee :--Messrs. j. W. Brookman, samuel
Wetmorc, George W. Cullum ana J. b. McCrary The
committees at once retired TO perform their duty.
WITHOUT AID THE CENTRAL CANNOT 90 on
While tho committee we're out Mr. Potts, cx-Gov-
ernor curtin ana Mr. John C.. Built. OF PhiladeIphin
made short addrcsse Mr. Potts SAID that be was tho
oldest miner OF anthracite coal In the United States
and that his experience was that thc coal
TRADE was very vassS ~ and @ bad
had their regular sliernations He was sure
that in year Of Two trade would be SO orsk tnat the
people would be hardly able to realize that there had
been such dull season MS the present He advised
the stock holders bridge over the present dhcuty.
for and asserted that unless they did this the company
could not go on.
SfEAkKRS REMARKS.
Governor Curtin stated that he hud small pecunlary
interest in tho road he had great interest IN the
Improvement OF the country, ana Always advocated
building up in coniradistnction TO pulling down. he
lik cd see a spirited and spunky man succeed, anu
Edward Knight had never yet failed in any enterprise
he had undertaken lie the man Tor the present
emergency
Mr But said that II the stockholders were truo to
Mr.. knight the President would DO true to them:
Mr. knight again urged the stockholders to subscribe
all they could, saying that coal combination VIII ale
most undoubtedly take place within week, and then
all will be smooth again.
TiE coMMIrrEg's REPORT.
The investigating committee returned after an abb
sence about hour and halt, when Mr.. Brookman
stated that would read tho report, which had been
hastily prepared. He read as follows
Total floating debt OF Central on January l,
including all bills payable, unpaid bills,
amount due employees and rent OF Lchgh
and Susquehanna Railroad. -, 543,0o
New Jersey Central has indOrsed bills pay
able account oil Lehigh and Wilkesbarre
Coal Company OBSERVATION-DISCLOSURES. l,14l, 900
Indebtedness Ot the TWO companies was Sc
cured by use OF blanket mortgage bonds 10
the extent o. o1to,ovo
And OF Wikesuarrc coal bon ds. .......... 100000
Also freight and earnings OF coal company to
New Jersey Central 10 addition. l,620, O0O
The true condition OF the kesbarrc Coal Company
could not be ascertaincd; but that the company 10
largely debt tho committee believed The debt was
aused by tho purchase and improvements Of addi-
tional mining properties The committee suggested
that "A committee ot ten be appointed To mako more
thorough examination OF the books. This suggestion
was adopted, and the samo committee WAS empowered
90 act II also decided appoint committee Of
TO solicit subscriptions to the certificates oil In
dcbtedness, alter which The meeting adjourned
About $780, 900 subscribed Yesterday, making q
total subscr iption thus lar OF 81, ,249 100