Year: 1875

THE COMEDY OF ERIE AGAIN-MEETrNG OF


AMERICAN BoNDHoLDERs IN NEW YORK


The changes in the stock market yesterday will be
found recorded elsewhere The transfer books of the
Western Union Telegraph Company closed according to
previous notice. but there 'squeeze in the cash
stock, as had been threatened.


THE COMEDY OF ERIE


is still being performed to full audiences both sides
of the Atlantic. Another act pei formed yesterday
in London-so say the cable reports-and Sir Edward
Watkin appeared there according to announcement
number OF gentlemen, said to be capitalists
and bondholders of Erie, met in the Office of
Mr. j. W. Gedney No. Wall street, and were
presented with certain figures in reference to the
company-said to be transcript Of those furnished
Judge Donohue by Receiver Jewett These figures
showed very bad condition of affairs but as they
were totally rnexplicable to the reporters and Mr.
Dunan only explained them privately to the bond
holders, they are not given here At the meeting Mr.
N. B. Lord presided and Mr.. G A Keep appointed
secretary After several speeches had been made the
following resolutions adopted


Whereas it appears by the representations in the
public prints and the official statements OF the President
of the Eye Railway Company that the corporation is
insovent and unable TO pay its debts and obligations
funded and floating they mature; and whereas the
Erie Railway has already defaulted in the payment of
interest upon certain portions of its bonded debt and





and whereas under the conditions OF the mortgage IT Is
competent to foreclose the same in order apply
the property and assets Of the corporation TO pay the
bondholders; and whereas the stockholders now
running the road in their interest and in disregard
of the rights and interests OF the mortgages and
it appears that attempts OF the stockholders to
pay the creditors of the company be successful and
that by of the false and fraudulent statements
regarding the road which have been made during the
past three years the bonded debt OF the road has been
increased to amount largely than the value of
the road and its franchises and furthermore by the
unlimited issue OF certificates by Receiver Jewett, the
value Of securities is being decreased daily that
the railway and properties will not sell for suff
cent to satisfy the demands Of the bondhoders there
fore


Resolved That n foreclosure suit be commenced by
the holders of the sterling bonds their representa-
tives present at this meeting whose bonds have
matured and have not been paid;


Resolved, That SUIT be begun by the bondhoders
under any other Of the mortgages upon which default
has been made and who are present at this meeting


Resolved That assessment of 81 bond be levied
upon the bondholders with which TO prosecute these
suits in the courts and this assessment be paid TO the
treasurer chosen at this meeting 10 be drawn upon
the committee may direct


Resolved, That the most vigorous measures be taken
to place the road and its business in the hands Of its
equitable owners, the bondhoders.


Resolved That the committee authorize Mr.. J. W.
Gedney their attorney, to Charles 0'Conor and
he and the committee deem necessary push their
suits to a conclusion with all possible despatch


The following gentlemen present we're appointed as
committee cary out the resolutions of the meetng:-
Messrs N B. Lord B. II. Cheevor, s. P. Dnsmore and
bled represented several millions of bonds principally
the first and second consolidated and sterling mortgage
bonds. The committee meet again for action to-day
at the same place.