The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-01-09
RAILROAD FARES.
THEIR REDUCTION OPPOSED BY THE sTocKHoiD-
ERs OF THE NEW YORK, NEW HAVEN AND


THEIR REDUCTION OPPOSED BY THE sTocKHoID-
Frs OF THE NEW YORK, NEW HAVEN AND
HARTFORD COMPANY STORMY MEETING.
The annual meeting of the stockholders OF the New
York, New Haven and Hartford Railroad company
was held in the Music Hall, New haven, yester-
day. Mr.. William d. Bishop, president OF the
road, called the meeting to order. A'er
the reading and approval Of the minutes
OF the preceding meeting the reading of the anhuai
report of the directors which had been mailed to the
stockholders. was dispensed with and was accepted
by the meeting. Mr. Goodwin rose to make some re-
marks in regard to the report. but he was declared
too late to be heard thereon. At this point Mr.
Bishop. who has been seriously i'll. stated that he
felt unable to remain any longer and called upon Mr.
watrous. of New Haven to take his place in the
chair.
The meeting then proceeded TO vote for new
Board of Directors for the ensuing year. In the
meantime Mr. Buckley. of Southport. offered reso-
luton to the effect that the directors were thereby
authorized and instructed to reduce the rates OF pas
senger fares the road. and stated that circular
and petition had been placed in his hands which
We're intended for presentation to the Legislature
asking that the company be required to reduce their
fares; that to fight the measure in the Legislature
would cost the company more than would DC sacrl-
feed by reduction OF the fares voluntarily. he
contenled that the company would be able to paw
per cent dividends; but if only eight per cent
dividends were realized the stockholders could not
complain, as the investment would be AS good us
anything eise
whole subject be indefinitely postponed ana SAID
that, with the exception of rev croakers, all the
stockholders were perfectly satisfied with the man
asement OF the road.
ENEMIES OF THE poAp.
Mr. Buckley again referred to the petition about to
be presented to the Legislature from residents OF
Southport.
Mr.. Wood inquired if it had not emanated from
Mr. Goodwin, and remarked that there were few
present who constantly working against
the interests of the road. One of them did all he
could in behalf OF the proposed parallel road III oppo
stion to this road and of late years had constantly
endeavored to embarrass the directors in the dis
charge of their duties.
Mr. Wood thought the fares were quite low enough,
that If the rate fixed at two cents per mile the
public would say it was too much and want IT re-
duced to and half cents and then If reduced to
enc and half cents per mile would want to travel
for cent per mile. and finally would expect to
travel for nothing and have lunch given Them
BECOMING MIXED.
Mr.. Buckley again to get his resolution acted
upon and manifested great perstcncy to be heard ut
considerable length, and number of stockholders
called him to order and several moved to postpone
the matter indefinitely with calls for him either to
| sit down or sell out
Mr. Joseph +. Foote rose and said, II move that
the gentleman from Southport be furnished with o
| free pass to some lunatic asylum"
Mr.. Buckley claimed the righ to speak in defence
any extended remarks from hin.
Mr.. Goodwin. OF East Hartford. offered resolution
to the effect that the directors DC instructed
two trains day each way tie leased lines ut the
fare of two cents per mile but the stockholders
| voted almost unanimously to postpone the subject
indefinitely. Mr.. Buckley ther offered resolution
that the directors expend money to defeat any bill
presented to the Legislature for reduction OF fares
Julius Catlih. of Hartford Mr.. Joseph p. Beach. OF
Cheshire, and others spoke against the adoption OF
! the resolution offered by Mr.. Buckley.
AT this stage OF the proceedings the result of the
| election was announced 1t appeared that ", O0a
shares were represented, and al the votes cast
for the first named ten Of the old directors while the
last named three fell but few short of the total mum
! Der cast. Their names are:-William d Bishop
| Edward NJ Reed Wilson G. Hunt, George N. Miller
Chester w. Chaplin, A. r. Van Nest Henry g. Robin
son. L. H. Trowbridge, Nathaniel Wheeler, G. M
Pond, Augustus Schell. George H. Watrous ant
| William IL. Vanderbilt
Mr.. Buckley and Mr.. Goodwin renewed their efforts
get their resolutions adopted by the meeting. Mr.
Goodwin got the floor, he said. to speak III sup
port of Mr.. Buckleys resolution against paying any
money to the Legislature to defeat the proposed bill
the reduction of fares. He however, branched of
to the reading Of extracts from daily journal, set
| ting forth what had resulted from reduction O.
fares some English railroads and on the Eri'
road here The speaker declared to be out OF or
der aud, amid the confusion that followed, tn
meeting adjourned sa.F'
Tho report for the year showed net earnings o
s., 1854, 4SV ~ u capital stock of SIS, .00O