New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-06-05
THE ILLINOIS CENTRAL, RAILROAD.

AT the recent annual meeting of the stock
holders of the Illinois Central Railroad Company Mr. W.
X Ackermsn First yice-President. made statement to
the effect that the decline in traffic had continued up 10
the present time, which was due mainly 10 the
short reserve Of grain throughout the State ;
there had been in the mean time, however
Improvement in rates for transportation and
n large decrease in current expenditures The
careful and thorough improvement OF the track and
about threequarcTs OF the track has been relad Womb
render unnecessary any large outays for this class OF
work for the next year or two The crop prospects along
the entire line highly favorable, and under these
circumstances there was reason To expect better hel
for the year tan that OF 1876. NO ln
prOvemcnt in the traffic could he assured before july
but the crop OF oats should De in condition to
move the management wOuld look for an increased bs
ness the road being furnished with ample equipment Tor
The foreign delegates who had made an investigation
OF the affairs OF tue road submitted their report winch
has already been published. TEis report recommends
that the directors pursue the most part the same p
dent ana conservative policy which has hitherto dls-
ungulShed the company, but qualified IN certain 0lrec
ions 10y tudici0uS enterprise Inc delegates recommends
to the directors that they shall, IN Their dlscreuOn eN
tend their railway system, especially toward the south
The meeting adopted the following preamble ana ieso-
luuons ,
has mso II evident that The successful operation OF
history past twenty years largely 10 the
deyotv nttgIity ana prudence Displayed by he seho"oh
Hhea This The ncre 10 be APPRECIATED as their services
were often GlNeA @lhC9t COMPENSATION oI me iuielhs
He1rs IL is onIy Que TO them hat the shareholders should
express he appreciation Of the Obligations under which they
resi- TO tnese gentle therefore ,,, e., ...,
hcsOlUeG the thanks Of The shareholders, In meeting
assembled, be ana hereby rendered 10 gentlemen
having composed Directors Tor the devotion, in
The shareholders interests, that those gentlemen
special thanks due to Mr.. W. n. Osborn. Who,
alter resigning the Presidency In 1860. continued
10 devote tie greater portion Of his una
energy ability b. The service oi this company. The
Shareholders desire express regret that Mr Osborn
willingness ther in the southern
lines, their hope that the great lnelts Which lie has
always shown in tie c0mpany's affairs will continue.
hsDtCcd, That the shareholders also thank the Objects OF
the sOupGuy the zeal aud efficiency exhibited III their
erI departments.
-Four directors were reelected and two directors
elected place of McssIs. Osborn and Bliss Those
holding Mcssrs a O. Daman. Stuyyesant iish,
y. +. Aver. and W. n Alderman. Nh john Elliott OF
tie firm Of Riggs & CO.. of NewNCik. was elected ~ place
Mr.. Osborn aud Nil. James G. Clark, Second wee
President Ci The company, WAS elected IA place OF M
BS. MesSrs Osborn and Bliss retire after many yeas
Oh able and effective scfV &c. The first named paicGdfy
having been identified with the management OF the ROAD
Gurlus nearly the whole tlm OF the company hSt"fy
Val Street heretofore has been treated 10 several
foolish stories concerning Nr. OsoOrns connection wan
TINS road One o. the eject that nc was to o ulNth
the direction, in spite of ms cdrnc, CLdcNys 10
reiualn Ilc is, Le voluntarily surrendered me
presidency in 1855, Ony remained director al e
tnat he alarmed a, the O Things, and bent Oh
leaving the sinking ship In point Oi iac ne now Ictdt
eutreiy from Ire management only 10 take charge OF
inc cOinpauys southern connections when run u New
Orleans, and when the English ana Dutch delegates
anticipate viii prove O great value 10 me C"nlahy III
diyeTtng foreign traffic from the East and west lines OF
RAILWAYS *