New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-04-07
RAILROAD INTERESTS.
DIRECTORS ISSUE A CIRCULAR LETTER.
REPLYING TO THE OPPOSITION STOCKHOLDERS OF



REPLYING TO THE OPPOSITION STOCKHOLDERS OF
THE RICHMOND TERMINAL
An adjourned meeting of the board of directors Of
the Richmond and West Point Terminal Company
held yesterday. 1t devoted largely to the prep
araton of reply to the fulminatlons Of the Libby
Rice Holllns party. Emanuel lehman submitted his
resignation director, but It laid the table
and 1t is hoped that he Will be persuaded to remain
in the board. Edward Lauterbach also resigned, but
by request Of the board lie withdrew the resignation
No action taken with regard to choosing a sue
to Alfred Sully
The circular letter Of the board to the stockholders
of the Terminal Company will be found in full else
where. 1t considers the request OF the opposition
stockholders for new president and points out that
this grievance is met with Mr.. Suy's retirement. A
president Of ability and reputation IS promised
but 1t IS pointed out that resident of Richmond,
Va" IS not needed, inasmuch the company IS a
proprietary company and needs financial management
more than railroading qualities in its president as the
owned and controlled roads already ably oicered
The borrowing of funds to pay the interest Terminal
bonds and the dividend the preferred stock instead
OF forcing dividends from the proprietary roads is de-
Tended on me g[ouna ma, & me & ana Dac IN
termcnt expenditures which has been wiped out, While
the refundng of the debenture bonds has also been
accomplished by not using the earnings for dividends
Elaborate tables accompany the circular TO show the
saving of general expenses and the favorable financial
condition Of the Richmond and Danvlllo. The Libby
Rce-Cark committee Is crit cised severely as opeent
pany properties, antagonstic to and competitive
with the Richmond Terminal property that they seek
law providing for call for general meeting Of stock
holders which was intended to be used only in an
holders insist a call for general meeting the
directors will comply with the request
A SCHEDULE OF FREIGHT RATES AGREED TO.
The meeting Of the Executive Committee of the
Trunk Line pool which was adjourned on Thursday
night. resumed the discussion of adjusting the lake
and rail freight rates yesterday. After long session
schedule of rates agreed 10 on similar basis TO
last years scale. A detailed schedule will be issued
by Commissioner Fink to-day.
MISCELLANEOUS RAILWAY INTELLIGENCE
1t was reported yesterday that the security hold
crs' committee Of the Missouri, Kansas and Texas
Railway had received assurances from Jay Could that
he would oppose their attempt TO secure control
of the management al the coming election The re-
pIts are incorrect It IS fact, however, that ME-
Gould has taken no act oi he G no
Of the committee may not be opposed
Bclvderc, April Ga rumor is afoat that the Ie-
high Coal and Navigation Company will construct
line from the outskirts of PhlllipSburg 20 Belvidere,
which Will connect with the Iehigh Road This Will
give the company direct connection with inc lien Hen
dron River. This will be In opposition to the Penn
sylvania Railroad Company.
Ottawa April (srecial).-ohlcsl reports tonight
railroad connections with the United
States opening up Canadian Northwest to American
enterprise will be effected July l. The Grand Trunk
81 Paui ana MamtoDa ana thelr cohhecuos are rdPul
pushing arrangements to tap the whole territory and
promote roads the heart Of the wheat belt from
the American side.
Louisville April Gin the United States Circuit Court
this the Of Rice against the Louisville ana
Nashville Railroad involving the question OF rate dis
crmnation In favor or the Standard Oil Company came
up demurrer to the bill Judge Barnett argued That
even admitting the fact Of discrimination, the plaintiff had
no remedy the offence for which t was sought TO
occurred CeOre the passage OF the interstate Com
merce law and as the law did not apply, nor
could this court apply any statutory provision Of Of the
States interstate Judge Jackson sustained
this position and bill dismissed. Motion for
an appeal was at entered and granted.