New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-02-01
LOCAL MISCELLANY.
NEW JERSEY CENTRAL.


CALLING UPON THE STOCKHOLDERS To SUBSCRIBE
FOR CERTIFICATES OF NEUTRALITY-SUSPICIOUS.
DENT KNIGHl'S ASSERTIONS OF CONFIDENCE.
In resnonse to the circular issued on Tues-
day evening the substance Of which was published III
yesterdays TRIBUNE. number of the prominent STOCK
holders % the New-Jersey Central Railroad Company
met the President. Il. c. Knight, at the company once
IN this city nj yesterday 10 consult regarding is
present and prospective financial condition Tue meet
ing was strictly private. hut II afterWard
stated by persons VINO had been pfosehl
that the stockholders were addressed ut CON
siderable length 10y Mr.. knight, who took occasion 10
charge the press of this city with repeated misrepresei
tason ~ 10 companys Gfain The reports that had
,hus ben Sc; aaoat he said. uuquaaediy false
Mr. knight referred 10 the taement made 30 the direct
ors AT a recent meeting synopsis OF which was pun
lislcd in The TRIBUNE Jan. Is to SHOW that the ROAD
was better condition than year ago. ne ana not nov"
ever sttenrt 20 explain how the operating expenses had
beenvduoed 636997, while The coal tonageo i'f i"ao
for $40 had been largely IN excess NJ that for 1870
He said that Inc had no eea of resgnng the presidency
until he was requested to do 50. lie owned between
pODo and 10000 shares of stock and he had No" Soio
single share and did not intend to sell any OF IT, ID &c
nioved that # would in time he worth hundred cents
on She dollar. lie had not even borrowed money Oh HIS
stock and he could afford to lose should be
lie had never failed IN q single instance in accomplishing
What he had undertaken, ard he believed 'ha' 'S c'''
prise would be attended with his usual success no a
pl!cs,ticn had been made for the appointment OF aiu
for the company. ana none wOI!d he MADE WIN his
lpoaIsdcc or consent while lie was lis Fres"chl' On-
fortunately the money earned last year. Wmc"
accorlinc 10 tho statement presented N"S
sA7Io0O, was very injnd'eiousN used 10 pay
dividends instead Of being retained IN The treasury %
Tho company for other purposes, ana tne o"'''9 "0"
,o,d themselves without funds meet the obligations
Under the circumstances there was only one OIL TWO
courses TO he adopted-eithcr the Stockholders must
.,ne 10 the immediate relief Of the company by lherAi
subscription 70 funds some OF lis pressing "o"HA
mons must be permitted by default to be loioWu
by the inevitable dissolution OF ihe com
many and the appointment OF receiver
M knight proposed that this aid should be iuihsle1 AT
once by subscription in proportion TO the amount oi
sfork held Tor the O0OO0 certificates OF indebtedness
which were authorized by the directors III December
These certificates il is proposed to secure py tue c''
dated mortgage bonds of the Leigh aud Niihcs''Ie
Coal and Iron Company the proportion OF $500" OF
the bonds 10 $1,000 the certificates, the boas 10 III
denosi;cd with the Trust Company In Pmadeithi' OF
which ,rsu recently Sir. Kn Sht was president
Tie dou,on o. this plan for the relief Of the company
was earnestly urged ty Nj Mccarthy of Pmadelrina'
one Of the directors the Legh ana MkeSbaiic O""l
aud Iron Company and by Chancellor williamson OF
New,Jer.ey, ~ beng much betyr than to peiHl 'he
roa5 90 20 into the hands of receiver After iGrther
discussion of the subject. in which Mr. KNIGHT aeted 10
subscribe al once for his proportion OF inc ceiuhcales'
a. ,nn4tiS- sEiouea To next wednesday ioI tGe pur-
No. ~ eyp The holder5 further time to consider
In, Question. II eubSe duenlY gwen out 'u3, d
large ortion the certificates had pccu sues fied I'
at ihe close the mtetng. bnt inqni! ~ INC One o
Inc comi,ay late the aft moon fhl'd 10 cVi' Iy
sttteucp! ns 10 TIE approximate amount OF Such snp
s,1,,o,,. Mr. Knight salG that names were con
uually bnin- dcd, and consequently ans figures gwen
flen would be iac0Ircct for TINS morning. .
few day, after the directors authorized tie Issuing c
tbcSp GER cates OF indebtedness. samuel KNOX, IcaS-
rrer al tia company, stated to TRIBUNE reports? 'ns
h. hal re.ciyt q 81 from Nj. kildH az 1littt-
pima - th- eject that about +lOUOoOl o. ilcn mac h'h
"a. cadY been dispoeed OF ON Jan. H. Nj Knicl1, N
c,yVcr,a Ion Will tn reporter corrected tbc
+I.u ri l4t-t f.l. a.. q
IT,, nun r of ibe certificate. had been taken IN phld
1lphla ana these lad been disposed ol al par j"
tsu In 10 a. had "A gle certificate hctn cAcAhl-rd
in ,ff!,ut III Ircd claim against me t"il'hH
On Tor 9uv G1 tr Cosd ration thn to idiacf Ni- III
cnsn Ia h coyc s4tiOH yC-tcIda, Ne kniShl Ga h"t
give any explanation Of hc reason lOi now ishIH- my
sincsGdcrs 60 subscribe for SjO3V"50 TIE iu "!no'H
authorized. ID. ...,,-,.
nc interest the Now first mortgage bonds, h.houh%
Ing 10 Sl7J,JJJ Il was stated would De a4a Io-1"S'