New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-02-10
LOCAL MISCELLANY.
N. J. cENTRAIls DESPERATE STRAITS.

N. j. CENTkAl/S QESPERATE STRAITS.
MOST Oh THE DIRECTORS HOPELESS OF RELIEF AID
WILLING To LET THE ROAD GO TO a RECEIVER
PROBABILITY THAT Az APPOINTMENT WILL DE-
MADE NEXT wEEK-PREsslSG CLAIMS on ALL
oIDEs.
Another meeting Of the directors Of the New
Jersey Central Rlilroed held compa1ys offce
IN This city yesterday and nearly all the members OF the
boarl Ver1 present very small amount Of 5ubscriI-
tons has been added TO those obtained at the public
MEETING Wednesday for the 5000 O0O certificates Of
indebtedness. During the discussion the financial
situation OF the company. Mr. Knight declared that If
Subscriptions to the fI'l OF the certificates
authorized could he obtained he would certainly be able
to carry The company through its present enbarrsss-
ments Tic payment OF many Of the bills for
expenses cond easily be postponed for time by various
methods which were wen known TO the managers Of
large corporations, and the revival in the coal
trade-which he urged was almost certain to
take place at early day-w0uld assist him In
the accomplishment OF his purpose. Mr.. knight
insisted that something might yet by which they
would he enabled tn procure tie necessary fumes and his
virws wrrc supported by Mr. Johnston the former Pres
dent OF the company The other members Of the boaI'
however, expressed the opinion that it was uselsss
make any further effort the company from tie
hands OF receiver They claimed that It for the
best interest Of the stockholders TO place the cunpany
whore 10 would not be- fur harass,d oy iInporuate
ereitors and where there would he opportunity TO
its receipts for the direct and exclusive benefit of the
road The immediate application for the appointment
OF receiver therefore urged II finally agreed
however, To postpone the matter for short time.
order 10 give opportunity meet the reprcsen
OF the Lehigh Coal and Navigation COMPANY. meeting
OF the directors Of the eOmparIcs will be held ia
Philadelphia to-day.
Among those who were most Intimately acquainted with
the affairs Of the company not thought yesterday
that thc appointments Of receiver OF the NewJersey
Central could be delayed longer than the early part Of
next week The wages OF the employees have not
paid since November A delegation representing the
engineers OF tue road called upon the Off Uf the
pIny yesterday and demanded their nay They were
finally persuaded to wait until Monday, but it ia under
stood that they will strike then If the pay forth
coming II these paid other employees wilkins that
they Inust also have the money due tham. The payroll
amounts to about 100000 per month
Several persons have mentioned for
ship. Fl has bean sld that Mr. KNIGHT VIII not
moreoveri &c is asserted that according aws OF
NewJerl"y the receiver be citizen OF that state.
Among mentioned for the position is exChnceor
williamson. who IL receiver o the New7Jarsy South
ern Railroad T. " Clark President Of the Lehigh Coal
and Navigation Company, IL very DESTROYS, it isundrr-
stood OF securing the position OF OF the Iehgh
and WilIesbarre Coal and Company, which is owned
by tie Ne-Jersey Central. Mr. Clark recently made
chairman the Executive COuulte- ~ the L"hIgi and
NIlke-tfre Com Gu the other hand MI Parish.
VINO Ir>;cut OF TIE company, Is anxious To remain ~
its head
The coUit &c appointed by tie stockholders meeting
"Wednesday - investigate the condition O1 tie New
JERSEY Central and the LeiiKh and WkeshsFTp CJnlpa-
MES nave actively engaged at their work AMI II s
expected that teY viii be ready 10 make report IN the
early rar OF next Neck Tany were before thc heard OF
directors yesterday with such information as they hA
then obtained.