New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-12-28


members of the board and myself to meet pressing
necessities elrly in March. except one note OF
$4,000 voluntarily extended by a member or me
board.
CONFIDENCE IN THE PROPERTY
when the July interest payments became due the
financial condition Of the country was sHch that u
was almost impossible for any corporation OF i4''--
vidua matter what his or its resources Hlisn'
be- to borrow money. Yet almost entirely dnad'u'
l procured the necessary funds to meet these pay
mcrts. The advances made FOR these purposes nv
since been repaid OF the earnings or the coi,-
rany Notwithstanding the vary great depression in
business generally and consequent ''li'.I o. VI
have suffered in common with other roads has re-
duccd tho net carHinGs consderaby D,,UW " 1ns,
and this in the face OF the most ''H'u
CONFIDENCE IL THE PROPERTY.
These results during the early months Of the
year when there was an increase in the net carn-
irgs of the road Notwithstanding The fact that a
competitor had withdrawn from il II large trhidc
which for many years had yielded TO your company
a considerable nc. revenue. seemed 20 justify tAe
conclusion that under normal conditions tho New
York and New-I,ngler1 Railroad Company IS amply
able to sustain itself AMI to give those who nave
come he relief OF the property great confidence
From he time [ Assumed the Trnanasemcat Of
companv TO the present day J have laborcd
10 the very best OF my ability to improve IL credit.
its physical condition and its future prospects, Td.
after st1dying II as thoroughly as the Lime haEe
been conrectcl with it permit ed ! came 10 me
conclusion that its stockholders could not reason
ably exTec; return upon Their investment uie5 S
some way could be devised by which the road coud
he extended into the grst city Of NeN-Nork Wheie
Il would Be- able 20 compete for the through tTanic
going To- AMI lr0 from tbs great netropolS. i"
ACCOMPLISH tbs result. the pan laid before you to-
dav embodied in the lease under consideration,
was thought to be the only one by WHEN an eX-
tension and independent line c)ui be secured.
at is my belief that if your votes are given to-
day ami in sufficient number 10 rdtiT this tease;
YOU will not only by your action obtain the desired
extension. but viii within reasonable time besiI.
to realize something upon your investments, the
dividends which have been 50 long deferred.
NO PERSONAL SPECULATE N~.
Il wish here to make a statement which may be
REGARDED as entirely personal. Since | became in
tercsled in your company ! have given my best
efforts in It's behalf and have made many personal
sacrifices al times when | could not find any other
person who WAS willing 20 share with me the re-
spons.blity The sacrifices were undoubtedly neces-
sary to save the credit of your company and its sol
yercy owing TO the depression of business and
the s,ringency in the money market. | ask no
credit for these services | conceive it TO be my
duty 10 the trust imposed In All | ask is that
YOU NAY not believe the statements, undoubtedly
D. lies for giving them wide circulation, and who,
Ike all resortlng to such methods, feel secure
D. Knowing very we'll that there Is no way open 10
ne by which they can lie justly punished say TO
you eI,ha tically that have never interested my
self in The securities of your COMPANY IN any wa?
trins'c value and thus indirectly the rent OF your
II believe in the property as ] always have.
companies had not OVertaken US at a time when
we were struggling establish our credit ana
transact your business economicaiiy Satey ana
satisfactorily to the public. the result OF tne year
operation would have SHOWN that the road not only
earned It's liked charges but handsome surplus