Chicago Daily Tribune Newspaper, February 25, 1875, Page 3

/ 4 THE CHICAGO TRIBUNE: THURSDAY, FEBRUARY 25, 1875 eee RAILROAD NEWS. Annual Meeting of ithe C,, B. & Q. Stocke holders. Defent of Mr. Joy, and Election of the Opposition Ticket, He Makes His Farewell Ad- dress to the Stock- holders. Rumors Concerning tho Burlington & Quincy, and the Michigan Central. Annual Report of the Diractors of the Alton & St, Louis Road, The Net Earnings Wero $2,224,000. Rail- Improvements During the Yoar- road Legislation. Earnings of Iowa Railroads Dur- ing 1874, Tho Railroad War. CHICAGO, BURLINGTON & QUINCY. FROCEEDINGS OF TIF SToCKNOLDERS' ANNUAL MEETING. The long-looked-for annual meeting of tho ttockholders of the Chicago, Burlington & Quin ty Railroad was held yesterday morning at the oflico of the Company at the corner of Michigan avenue and Randolph street. It waa genorally undoratood that at this meeting tho fight com- mouced at Boston, in rogard to tho alleged mis- managomont of the Chicago, Dubuquo & Min- neaata, and tho Chicago, Clinton & Dubuque Unos, would bo faught over again, and tho con- tost virtually decided by the overthrow of one ido or tho other. Honco moro interost wou taken in this meeting than usual, and u larga number of the stockholdors wera present, Pro- vious to tho meoting CONSIDERADLE LonpyINa was going op, and both sidea of tho question wero freoly discussod. ‘Thoso present vero mostly Westorn mon, who wore generally favor- ablo to Mr. Joy nnd tho ‘present management butit soon becamo apparent that tho bolting Esatorn* party lod by Messrs. Griswold and Porbos would carrv the day, as hinta wero thrown ont frequently that Mr. Griswold’ bad enough proxies from Eastern stockholders in his pocket to cloct all Lis men, and defeat the Joy party. j MB. Jox arrived a little Jate, and took lis soat noar tho door next to Tuz Titnoxe reporter, whom ho supposed to be a atockholdor, aud discussod tho situation quito frecly with » wtockholdor sitting next to him. Hosaid that ho expected to be beaten oning tu the fact that Merars. Gris- wold and Forbea bad beon interviewing all tho Ensstern stockholders during tho last month, soliciting their proxies, whilo bo nover, solicited the voto of asingle porsop. Nor dit he know that any such chargos sa those mado at Boston would bo brought up until » wook ago, when it was too late for him to tako any action to counterbalance tho machinations of tho Boa- ton elique. He would in dus timo defend him. self, and show that his connoction with tha Con- struction Company was porfoctly justitluble, and in ovory way honorablo. Iie alvo ulated that bo expoctad to bo out of railroad buslnoss, oxcopt as stockholder, within this yeor, sa he intouded forthwith to resign all bis official positions and go back into private lito. MIL 3, Ne As ONIB pat at the bond of WOLD tho tablo like « Gonoral-in- Chiof, ond next to him eat Mr, William I, Forbee, tho son of Mr. Johu af. Forbes, who was n& presontbimeelf, Young Forbeshad with him awholo carpet-bag full of documents, which he and Mr. Griswold wero eagerly looking ovor. During tho reading of tho Y’rosident's report by tho Secretary, Mr. Griswold stepped up to Mr. Joy and asked him how ho felt. Air. Joy repliod that ho nevor folt better in his life. “ Du you intend to make big speachos?” asked Mr. Joy. * Oh, no,” reptia ir. Griswold, “wo sald alt wo hud to say at Boston, Do you intond to say anything?" ‘That depends upou tho action of the mooting,” said ALr, Joy. ‘Tho mocting was callod to order at about balf- pant 11 o'clock by Mr. Amou T, Mall, and, on his motion, Mr. 0. 8. Colton was eloctod President of the mootiug, and Mfr. L. O. Goddard, Sucro= ary. Messrs, Willlam I. Forbea and Charles L. Bartiett wore unanimously olected tollers. Tho Becratury then read TUK ANXUAL REPOUT of tho Directors to iho stockholders, It shows that the grosa earings of the rosd donug the leat your wore 11,645,017.52, and tho operating exponuex €6,619,612.39, leaving tho not earnings during tho year @5,191,805.19. ‘Tuo 10+ Port gave a vory favorablo oxtibt of the Com- pauy's affairs. On motion of Mr, Griswold, tho report sae go> cepted ard ordered to ba printed for distribution amoug the stockboldors. NEW BY-LAWS, On motion of Mr. Griswold, tho following ros- Olution was pasact ‘ ‘That the following be added to tho by-laws f Thistoen Directors taatoudot twelve, io of twelr. ‘be elected already provided in tho by-laws, * Mr, Hall said tho next thing in order was tho ELECTION OF TILE BOARD OF DIRECTORS forthoonsuing year, Lo desrod to state that thore were two tlokete prosented forthe nuffrage Of the stockholders, Que cousistod of the mem- Derg of lavt year's Board: Mosurs. Sidney Dart- lutt, Jobu C. Green, Erantua Corning, John W. Brooks, Joun A. Burnham, John N.. Dennison, John M, Forboy, Nathaniol ‘Thayer, John, A. Griawold, James FB, 8. Colton, and James M, o now, or Opposition ticket, consisted of Sid- ney Dartlott, Join ©. Green, Eravtus Corning, John W. Brooks, Jobn Ml. Forbus, Na- qhaaial Pon aaty Joba N, A, Gusmald. Us 8, Col- , dames M. Watkor, T, J, Couli Se Hotel, and er oor. akon io throo Inst named were substituted for Jamea F. Joy, sfun N. Dennison, and Jobn A. Harahan, ta ir. Griswold moved that tho name of ‘Mr. Charlos. A, Paine, of Boston, bo added % Mts bor Hest bi ir. Joy moved that tho nsameof Mr. Boss lor, of Naw Xork, be added to the other abe ' o ballot Was then takon, with the following ro- Blane it 3 WW orecaee oo N48, 11 aT On motion of Mr, the geutlemen, : St voten having recived th t highest number * Ghicago’ Baty dtelared slected Directors of the gton & Qui; pope Hee afaton, “usvabe, Deusen Hake cutordtua Pua Colton, Walker, will bo obucrved was on the old tleket but not aera was clocted over Mr. T. J. Coolidge by a email majority. pitt; Denanson has been the hairs 0 i sasmall comfort for the’ oie aaseeleetion slection was br TaeMy: Pe a as ought abou: wah roa, and, with moelt feoling and warmth, baing nt times affected almost tu tears, spoke ax fol- lowat MN, JOY'S REMANKH. If there fe no Intsiness before the meeting T wish to dor two. Minis te probavty the last time T shail mect with the slorgholders of the C Tratiroad, tu jong thine ; when so worked hard togetline wittt & subscription to begin ta bulid thle watel La now menge cuterprine, Yourself, Mr, Guairman, was oue smong them, snd one of the carly anvacrinors, anit to ing amazonent you sunseribed $25,000, far down in the country for at enterpriso wich an yu.t Lad naver bee fore engsged in; tho encouragement witch you gate te at Galeulatrg wan What ovabied us after all to cary {nts enterprise through, Yau stood by us like aman, You put te your money ta th extent of yaite utmost Stulty—farmore In propor'ion ty saur mans {Watt any nian in New York of in New Eoghind. Tuev pot tu af their abundanoa, aut small wmounte of thelr abundance, but you, with your amall ueans, gave all that was in sour power to give, JT recogutze bere tho sou of another of the plonsore of this anatitution who worked with ua early: who worked with us sirmly and worked with ae weilt ho Juan gone to iu fost, ag Many agother mau who began with us bas, ‘Mr, Chairman, it {a hocatiso thesa things aro in my mind, now that Tam about to leare you, tuat 1 wink to alisuto to them, For twenty-five years wa lave worked tegether to bulid up thiv road aud build up this Justrution, We lava d under ntiauy aificulties far bayou auything we had a right to expect or hope when wa bega; It bas becouse large and proeperous, and an fuimensely proStable institution tu the early partlas who went Into ft, Lam rojoiced, thong T bad to work hacd for {t—f am rejuico. that the parties wue went early into it mace money out of It; J am rejoiced that they bave contintied to hold thetr stock aud thelr onde unl thos realized their full value, 1 can only speak of the pleasantuens of the anno ciations that have exinter betwoon tis for miny years, J being the Freafdent of the Ruad, alwaya auppurted,— alwaye well mipportet, and cheotfuliy, and wuttl to cently never with a diseuting voice in the Board or tu the stock. Recently it has been changed, —it may Le for the Dettor, Ido not aay it fe not, Fhope tt will In for the betier, I shall rojole to seo the ted go aloug and prosper under {ho comparatively ew ad- mittatration as woll xe it oan done undur the old. Nv ian will rojotce a8 much aL, 1 seono reasou why 4 thould nat, and I beliovo that it will; and, if tt con~ tInues to prosper, although T shall be disxeverod from any conuection with It, Dehall as much rejoice as 1 have while ft has been" compiritively under my care, With tuete remurks, Mr, Guairman, 3 wiak you ult prosperity in the future, and, feeling inat f abali wevor meet with you again, I Lit you farewell, Mr. Joy, at the conclusion of his spaach, was rapturourly applauded, aud Ue immediately thoreafsor laft tho roon. VOTE OF THANK! Mr, Harding then moved tho adoption of tho folowing redulution, which wa» dune unani- mously: Resolved, That the stockholders of the Chicago, Bur- Mugtou & Quincy Rul’ro sk Company desire to exprera their undiminished regard anit thelr thanks for the past servicea of Mr, Juiues F, Joy ant Mr, J, A. Burn. hain, retiring membere of tua lale Board of Directors, Tho meoting then adjourued. Aftor adjournment the stockholders congro- galod in small partics aud oagorly dixeussed THE RESULT OF THE ELECTION. It was tho geuoral opinion among those pres- ent thas the fight, which hed calmiuated so dis- satronely for Mr. Joy, bad on!y justcummenced, and that the presont managemouta of tho Cinca- go. Burlington & Quincy and tho Michigan Con- tral Isilroads, which rere both cont.olled by Mr, Joy, would bo entiroly changed. It ts inti- mated that Mr. J. W. Brooks, or some othor Bou- ton man, will bo elected Presideat of both ths Michigan Coutrat and Chicayo, Burlington & Quincy, and that Mr. C. E. Poriats, a sou-it-law of Mr. Morves, will bo made Genoral Manager of both roads. Mr. Robert Harris, the Genera! Su- penmtendent of the Chicago, Burlington & Quin- oy Railrond, will probably be retained. Afr. Harria is undoubtedly one of tho ableut, If not the ablowt, Gouornl Suporintendont in tho United States, aud thoge interested in the wel- fare of the rond cau itiy alford to lose him at tho Provont timo. Ho isa mau of uuusnal tolont and atrongth, aud tho road has groatly pros- pered under his superintendoncy, So highly is ho regarded in railway circles thay mon grad- uatod iu his ofice aro always exgerly suught for by other railway compaules. Mr. W. H. Strong, tho prosont Superintendont of tho Michigan Central Iailrond, will also, without doubt, rotain hia presont position, Mr. Strong has, until recently, bocn the Aesistans Goueral Superimtondont of tha Chicago, Bur- lungton & Quincy Railroad, aud is a man of high character and ability. Since ho hae Agsamed control of this road ho ‘has effoctod many roforms, aud surrounded himself with the best mon bo could flud, most of them having graduated on tho Chicago, Burlington & Quincy. What will bo done In regatd to tho al- Mped irregularitios in the management of tho River roada cannot yot bo predicted, but there ia nodonbt that tho ronal contest will come off at tho Director’ meoting of tho Chicago, Burling- ton & Quincy, to be hold at Boston Aiarch 4. TIE PARTIES DEPEATED at yostorday’s mooting stato that all the chargos made against thom had no foundation in fact whatever, and wate trumped up moroly for the purpose of ousting tho Westora men who mado tho roads what thoy are, and gotting thom into tho bands of Boston capitalista wlio had on- ly invested in thoue outorprises after thoy were an established success. ‘Cuese mou had for tho Jagat (ow yoars triod ovorything in their powor to drive Mr, Joy from the manugemont of thcae roads bocauso they lad not paid ax handsomoly ay thoy expectod, The Michigau Central, which formerly was ono of tho beut-paying roads in tho country, had to pass its annual dividends during the Isat tio yeara, And all the blamo for this was thrown upon Mr. Joy. It was doubtful whothar an Eastera man could do any better, if as woll, as Mr. Joy haddone. lo waa noknowledged » man of great tact and ability, but tho times gad circumstancos were against In tho afternoon Mr. Joy had . A PIIVATE CONSULTATION with Mr. James M, Walkor, tho Prealdont of the Chicago, Burlington & Quincy Railroad, at, tho latter's residence, Br. Walkor haying beon cone ued to hie rooins by wicknoas inca last Satur: day, and In the evouing bo loft thocity for hiv home at Detroit, —.—. CHICAGO, ALTON & ST. LOUIS, ANNUAL REPORT ov THE Dinxorons, Tho twelfth annual report of the Directors of the Chicago & Alton ftatiroad to tho stocknoltera bas juat boon folsbod, ‘Tho oxtont of tho several lines oporatod during tho yoar is tho samo as at the close of the pro- coding yoar, to-wit: 649.1 mileg, Thoro Is betmoon Chicago and St, Louly 511g milos of double track, and, on tho soveral tines operated by the Company, 97 6-10 miles ‘of sido- traok, ‘The capital stock of the Company remains tho same aa lant reported, ‘The following is a atatomont of the sevi amounts of OAPITAL STOCK AND FUNDED DENT of the Company at the end of the yoar: Preferred shar Commo shure... ————- $11,955,900 Boven par cent ecelp convertible tuto euust mou sock Sept, 2, 1475, 1,007,900 doxbED Dr: First mortgege atnidug fund 7 per cent bonds, muturing Nov, 1, 1877, “$77,000 Firat tortusge 7 per cent buuds, maturing Fads by TIS. se ecoeeeseass severe 2,983,000 Income bonds, 7 per cent, maturing Jan l, cent storllag toads, ma £600,000, oF, say,.,.-. 2,019,900 " ihe & Cuicayo Italirosd bonds, wssumod jn purchase ot road froin Nwodtiouse to Louisiana, tirat mortgage 7 per cent donds, inaturing April 1, 1804 * 664,000 Second mortgage 7 per cout bonds, mi suriig Jusy J, 169d... enna ‘Totat amount bonds, soe ee08 T2109 Total stack and bonds... MES iste The lease of the Jolict & Cufcago Mallway provid that, in ddition to taxes and. ssgesamenta’ chon tee progerty, the Company uhall pay? per cent dividends 0b $1,600,000 of wtoek, and avaume the obligation of that Company under its 8 per ceut mortgege bonds due in 1882, which, at the mo the lease was made, amounted to $509,000, JL was resolved by the Company in 1866 that there. fan angual appropriation of about $55,000 should be made from your revenues and applied to the pay- ment of interest and to a sinking fund for the tedemp- {Won and cancellation of these bonds, Iu pursnance of that policy, $22,000 of thoss bouda were canceled dur~ ng the year, and the number outstanding and uncen- coled hes bec reduced to $306,000, The payment of this iaat named sunt nay be cobvidered an guiryation of your Company, but if fa oe for which a full equivo. lent will be received,—the reduction in the amount of Tent paid for thu use of thetproperty after thy redem fon of the bonds being equal to 8 per centon the amount of bonds redeemed. in this respect the oblie fetion of the Company (If it may be properly a0 called) unlike those before stated, and la tuerefure nol lansed with them, From the fized annual appropriation of $72,000, ap. Plcsble to the intereat and. sitkung fund oF the first Mortgege aiuking fund bonds of the Company, $43,000 Of those bonds ware redewnod aud cancelod during ‘The remainder of $77,000 will be redeemed in the course of the noxt eighteen SMPROvEMENTA. For the information of stockholders who are not fully sdvived of the liberal expenditures mate from Une to time during tue lsat tun years by the Company cote Upon ita leased nes, the fullowing ateuanat La sublalived % ere Lee been expen: upon Hues bekd u Company under perpetual lease for double sceke alee tracks, depots, grounds, butidings, ans other perma. nent improvements, ated ralig, and’ for rolling stock peed in operating stich limos (a5 nearly aa the wame can Le aprortionnd, and for tbe bridge ovob the ttianiaalp- pi Raver at Lo ‘tuo wurn of FL U5,010,19 alae eae te an 119. af otante anid onda from time ta time, Inno care han stock bean toll for leve thin per, and in no caso bas a fale of bonds boen made for teas than 04 per cent of thelr yar valus, If tho nam thns exnended (which may be assumed to fairly ropresnnt your ytoperty upon lines ueld under Joana) be dedi wil frum the aggregate amouat of cap fat stack nud funded debt before stated ($10,582,100), thera will remain the mim of $14,710,932.81, represent ed by, aay, 34) milen of railway owned by your Com- oy, together with ra tools, supplies on Band) perasnal property, of your Com- pany, of ad kinds, ercapt as hafore atated, “If the lant« aamed aum ba divided by the actual leug:ts of railway J by your Gunpany (taking n9 account of dante Jdostracke, atn,), say 460 miles, the renuit will ,878.0 per nite, Vary ¢'r-fal estimates hava been made, fram which Atappeara tunt ifthe road hal been Dull avd Ure prop erty xcqilred ut prices which have raled during the lust five yeara, the cost would Lave exceded that suas, 3 = nthNan ‘rom paseengor trate (27 7610. POE COD!), cose seen see eee 1$l)420,950,62 Fron fret’ trata’ (ct 210 pit rms ‘pat 3,410,830,01 ‘rom Exprona Compatsy (2 per cB rrocececcrerertegcsecs, 101,030,09 COMM sees nha 2 por enmty — 109,697,08 Front "transport! States malls (21 Fram misceilaneaua soneces (0-10 pee cent)... 8,240.04 126,223.83 OPERATING EXPENGRA, For eonturting traan portation QT 1-10 per vent). see es $ 802,693,73 For mative power (27 $-10 per GENE) ver reves ees «790,120.28 For maintenvuca’ of "way {260-10 per cOmt)..ce.eseece 781)240.38 For niaintensuce of care HALO POF Centecsscerre es 2034096 For general expensen (5 6-10 per cent)... va 102,09,06 For taxes (Stato, cotta aid nitinietpal), party estimated {29-10 per cent) 112,000.00 a 10.91,951,06 Net earnings Balance at the credit of th count, Jan, 0, 1871 Net reccrpte an atated, (3, 288,819.52 2,224, 670.97 — $2,609,690,49 DISHURSESS: Intersat on fanded debts... +$ 9096.62 luterost on convertible serity 70,554.00 Patd Juhat & Cnicego rant, ox elusive of minkiog fund 133,492.69 Pald Bt, Louts, Jacksouville de Culeago raat, 240,000.00 19,473,83, Pald dividouds Nos. 1,183,080,00 Poid einting fants 91,000,00 Paid United states Govern= uieut ih weltlomont of vid Iuternal Revouuewscounte . 74,800.22 Paid on setilement of ald clatmson atematof frotgut aud other trausietiane prior tothe eur LOT... sereeeee 15,051.50 52, 999,798.82 Balance Dac, 91, 1874..006+ $ Ly,894.67 ‘Tho last two Stema in tho foregoing statentent of Giavursemonts aro not proparly chargeable saul re~ ceipts of 1874, und sould wot be covsiuuied In oatl- tating not resulta for that ye. ATATINTUB, ‘The yross rocelpie from trails wer $373,312. $26 por cont Teas than tn 1873, wud $90,097.68 te sid, ‘Tho nat reccipta were $103,591.07, or 4 83-109 percent more thay in 1874, and $119,720.94, OF neurly 1t per cent more thau tu 1072, ‘The operauug oxpenses of the linea (exclusive of taxes) atnonnt ty 54 41-100 per cent of gross recelpins including taxed, 666.10 per vent. During the provious year tts operating expensce were 89200100 yer rout and 61 reapuctivoly, The grusa ree celpla from passunger traiic allow wn tuerease uf neatly 3 per cont over thoss of 1973, ‘The averaxe fare ald jor passenger was $1.57, belug 9 cenla lose than hy average of the preceding year, ‘The number uf pamenters, trausported during tue year $4 934,233, ing 74,347 oF 6 YJeLWU por cent more thay during the receding year, ‘Tue proportion between througy aud loval paaucugers being 6,70 por cont of the former to 94,24 por cent of the latter, Tua tonnage of freigut transported amounts to 2,- 812,015,787 hs, being 1347-110 per cent tex than th 1813, Tho proportion Letweeu through and focal freights being 17 24-100 per cent of the tormer to #2 76-100 per cant of tha latter. ‘Tha proportion of through froight being nearly douulo that of 173. ‘The grusa roceints from freight trattic were $150,380.85, or 11 50- 100 per cent love than during the provediug yuar, ‘Sue coul traf’s of the year, which iwaucitided in the fure- gitog e* toment, amounted to 4J4,3/9 680-2090 tons, Dolug 26 33-100 per cent less than in 1873, Average gross receipta per pussenger train per mite Tp, one dollar and tuirly-neven vents (51.37). Aver age yrose recelpte par freight tratn por wile ‘Cun, oue dvilir and woventy-uix cents (51.76). THE bUIDGL OVED THE MIGSIRSIPPE RIVER at Louisiana was built by thu Company as sole owner, no other corporation or person Laving bud at any Unie uy pesunlery iutereat iu it, Undor those circum. stunzes (although an ascurate account bas boon kept of the number of passengers and tons of freight pawing over it) the basis fur division of earnings butwoon tne road and bridge, in cass of trae pussing over both, haa boeu, for convenisnce and uniformity, arbitrarily assumed’ to correspond with the minimum churges made ut aimilar bridged over that river, ‘That modo of Kooping the secoutite shows tuat the bridye eaci from purnunyer traille, $8,049.U5, From freigut trata, $19,834.01, or a uet prodt of 74 por cent on ita coat, Nad the bridge boon credited what it was fairly enti- tledl to from through rates upon the basis of chacyes made on othor bridges over that river, the result would havo shown alurger roturo. Tho advantages resulting from the couatruction of the Lridgo im pro- mating traftic aro atreatly apparaut, ‘Che gross earnings of the St, Louls, Jacksonville a Chicago Naitroud snow en tucrassy of 4 12-100 per cent; thoseof tba Tnutsiaus Branch about 3 por eeut; auil those of the Loulatina & Miesourt fiver Railroad 19 85-100 per ceut over thosu of tue prucod~ iug year, Tuesw lines are the only uned operated by tha Company on: which iucressod freight (railic war shown duriug the yoar; and the increase waw due muainly to tue construction of the bridge, Tue traifle ou thy lines vie Loulaiany, iu the direction of Kausas City, 16 steadily incroastug, and, althougts atill amall it amauut, tt is bolleved that, with tha refarn of geueral business activity, {t will sasuma moe satisfactory pro Portions, EXPEMENCE IN OPFRATING THE LEASED LINES durlog tha past year Lua demonstrated the following resulta: The Jollet & Chieago Railroad Company 18 paid a Gxod frontal, and 9 eeporuts account of sara juga is kopt, but tho lease iva very advantsyeous ona to thu Company, ‘fhe not earning from the trate of the Bt Louls, Jackauuville & Cuicago Kuirosd rewult fu a yront to the Company, wich ta ealinnated at $185, ‘The net earnings of the Louisiana & Mirsourl Rivor Raliroud Wore lowe than the auount of root pald for ate se. Computing earuige upon trafic contituuted by it (0 tho other Hives us an obtxel ppareut net loss fu eatimated ot $9,27383, 1m 1813 the lows ta operating Aitat dine Wan catiwaiud at $51,174.29, With tue tm. porlint modif-ullou of the teria of tho losse, herein. after sjat.d, aud the tnoreaso of tratlic already ruferrod to, we trope that tuia ie the Laat loss iy operating dut Uue which will be reslizod by this Company, By the lease Vebweou this Uompany and the Loulsi- ans & Misourd Itiver Ralizoad Company, dated Ang, 1, 1870, the latter Company agrecd tu furnish right of Way, yrading, sud ties tocoup.ste tts lino frum Maslvo to Kansas Oity, Tuat Curpany tailed to comply with Ate contract 12 this respo-t, nud 1 conauqueuee thero- of thst portion of its ina’ bas nuver been complotad, ‘The leae provided that, in caso any dijiculty should thereafter exist betwoon tus parties relative to the nou- fulnlmont of aay of tue voreuants oF sgresinoute therein contained, the questious of difference mould ‘Le submitted to the arbitration of two diutotorwatad persons, akjllod fu the Lusduoss of coudusting aud duoaging rallrosdy, one of wuor should be choscn by cach of tue parties, ‘Chie Company catiaed tunt i Was entitled to compensation by reison of the non- fulfilment of the ountract on the part of the Loulsiaon & MissoursJtiver Riltrosd Guinpany, aud to question ‘was mubinitted to thy arvitration of Joseph I, Moore, Eaq,, chosen vy this Company, and Gea, A, Alderaan, chosen bythe Loutauna & Miasourl River Muilroad Company, ‘Tho arbitrators met and awarded that the clausa {a the lose by which thls Company guarauteed a wminimuin annual reutal should Le aurugated, aud that frow tho Ist of November, 1874, thie Company Abould pay ae rental 35 per cent of the gros earuinge UL the ne between Loulsfane aud Jeifereou City, alter deducting (sxee; aud that such auui as tis Company might be obliged to pay Ly rewsan of ite guaranice of {ue juterest on the bouds of the Loufstane & Miaagurt Tuver Htajltoad Company, in excess of wuat thu routal unght amount (0, should be charged to taat Cow pan} avedebt without iutereat, Tue eect of thts uwari was to réliave this Goipauy from the payment of auy roptal beyoud the $3 per veut of tne grow earusnge, dese taxes, aud make any excess ft migut pay aa iu- fereat weyond tua’ rental wus edtauleued a dobt against the Louwians & Missoun Iuver fteilruad Gone pany, : TAXING CAPITAL STOCK. A law of Mlnow, passed iu 1472, provided for the taxation not only of the eutire projurty, real wid per- soust, of rafiroud companies, bat of tueir capital stock, Tue property of tbe Compas was swerved au auch # manner as to render 38 exceedingly dificult to ascer- tain the procise amount of taxes waich should be paid, Under theeo edrcumstauces, Al. K. Jesup, Esq. one of the stockuolders, applied t0 the Cirewit ‘Court of the United States, preyluy for ea injuuction roalratntug the colluction of the cutire tus, but offering to pay for he Compauy euch au ue Court should deterinine equitable; aod « teinporsry injunctiua wae granted, watch afill remains in force, | A vim quite au large aa it 1 aupposed will be ultimately pai TAs boon approprated aud charyed. th ie accounh of Operating expenses, Lut has not yet been paid. It 18 confidently believed that the injunction restraining the collection of the tax on capital ajock will ce sus tained ; anid that the tazes upon the property will be largely reduced, JAPROVING THE TRACK ‘Ths property has not only beeu in all departments Putntaiged tu condition equal to tat of the brat Western rallwaya, but by tho continued substitution of atee) ratla for fron rails, as the latter are worn ont, by adding te doabis tracks, by reducing the juclina- Hon of the steepest gradus, und by oluer, improve: meats aud additions, which’ bre been made at 9 cost of $762,977.08 during the year, the property fv in uch botler condition for opersting at ruduced cost than ‘ever before, Pive thousaud and fourteen tous of steel rally, 3,215 tons of troy rails, aud 215,029 new ‘cross ties have beey usod in replacing worn out rails and crow tlos during the year, Wve hundred sud ‘twenty-two toma of utoed radia and 14,629 cross Lies havo bocu need in additional double traci of additional side-tracke have alo Lonid ‘The gradi track betwaon zclet and Wilmningioiy linstion of grades,eo that trains moving point sles of Oulcaye tacead ‘aa tee vcltusllon excoediug 94 feet por mile, Des completed, This Importint improvement will cnable engines t9 move tana larger trains aud reduce the cost of operating upon that part of the tina on which thera te the arenteat sccamrilution of trallic. The in ved amount of nel ourvings during tho year isdueto the very lorie rednetion in the cort of Opmrating and mafutainiog the hnov, Lower prices for snppiles of all kinds used, sud the advantages derive? froin Uberal oxpenditurca heretofore made by the Company for stool rails and otnor improveinenta, bave contributed mainly to that reeuit, ‘The reduced amount of trattic fx due in so:ne dem fipg to the general dapreeaion uf bane, but wainy the operstton of the PAAENT RALLWAY LAW OF If1.¥0I8, which practs ally proaiuita all traiflo which might be obtained at ratos affording less proft than th sulting from the Bed scheduis of charges, Attn of the competing points are fouud rallwayy which ax- fend beyond the Hmuits of Tiuote, and are therefare at Huerty to make suet charges on through trativas they tee fi, Cuder the rules prescribed by the lam, tho wl= terpstive in placed beform the Company of rediciyy ail thu rates to the buna of competition, of sinolouing ‘Ladness at such poluta, Such a reduction w: voon Jes tofnanctal diMeultios, ani! tt bam: tolet -ompetiiors take tus traitle until (ue evirte oF ia Legisjature auall raisers the peoply and the raliwags cf the injury that resulta from the present len, The Conipany haw been rentricted by arbitrary rater at Yanauce with comm Wt buaiiees prt rr for tho part eek which it won d eosin could Lot he more to ita disadventige. A darys atnount ot rewurning care have been returued empty that might have Loch loaded with freight tu the mutual benent of aulpper and carrier, bad st beeu wotuin ita lawful dine cretion to make temporarily aight reduction tn #, Tha Guinpany bes coutendad ae lest it coutd th competition who were so draruve of obtaining {rac from pote of crusting aud inte this lime that they Lave reducod thelr ubarges eves fo mich below fates afarding promt that the revolt bas be nies i the banda of Receives, and 10 eauee serivue finauctal einburrasninenta to thera, ‘Tun low ratow tbat bays teeo charged on roany of the Western radways for brauaporting the prodsica at the soll for several years past have eaured troubls in dany ways, The pulicy witch Lun beew pureusd lian Qrprived sbarchoklers, ti many caxct, of alt divi- ends; and in atuers, bondhollers lia tatiel to ree eiiteteat on thetr Louds, [1 hue lod the jrupio— and, In some caees, even the courta—tnlo the ere tneots Lallef that shel low rales ware travonabie, ais tat Ligher rates charged on other hues were Weveluie extoritopate, It bon been oue of the principal cauaee of bortile aud unwine legislation, It ls Legluning to be apparent to the poople that ther efforts to estabiish prices uf cominodities Vy traaed {lon must not auly fall, but, if persivted iu, aust re sult iu lujuey to themselves, av Welt ua to talimay cute antes; end many persoun are delasuding toe auc inent of ropeal of the preavot rabiway Law, Tao result of tha trattic ou thess lines during the past year, undor very Unfavorable circumstances, duin- onatfates’ their (ntrinstc value ; Lut, with Litde igre than half rage crop of corn in 1474, witu thy general business of the cuuntry but partly recovered from the effecta of the panic, aud thy tu any fininediate rellef train unfrieudly legals dor compels the Director to report that at 4. jis eettor a proatuble year’s bustuces iu 1 Very witouraging. — JOWA_ RAILWAYS, GROIS EANNINGS, Speeiat Cerresponierce of The Chicano Tristne, Dus Mutses, ob, 22.—The following saihoads Lave reported their gross caine ta tue Gover: nor, for the year 1874, in accordance with the utatute, for the purposs of classification, The 23 ten uate n te plave several auich roturna include only that portion of the roads in lowa: CHICAGO, ROCK LALAND 4 PACTFIC. 1S 902,750,01 BUTTE SRE] 1493,8" 134506 Pasrengers . Frelghs Expiess Dials DAVENPORT & Bt. PAUL Passengers, 39,890.45 90,505.39 14.97.64 1.616 4 tHE $ UT A9 8 wis4u.s0 35,619.90 716913 68 4.640,02 # 7A; 10 $,8600,33 64,6 oa $32,072.00 23,402.99 2us.o0 4,302.20 TE DECTEMG, oe eves Meds ver sneneeven: TOLEDO & NORTH $ 5,S00,01 MIAFOURT, 108A A SENMAGKA, 4.98.09 12,05872 ‘a4 a5 a ses WAT TOWA EASTARH (MANROW CAtOE), 1,017.45 QTL Increase... Aliles,. Fresght. Express, Manes Mineellatienn Millen, Passengers Fretghit, Maths, Et} rew F108, s84.54 * Comprised tha Des Moines Valley Hemel an Wnts. Increase earnings, $55,076.05, Total esrninss, 1873... ‘Total earuiuge, 1474, . 3 oL,bia.tn ‘The Narrow-Ganze from Des Moines to Ames Tucreane..... hah made uu report. It wae nos upoued untir suis 15, EXPLANATION. The aneation may be raised how this largo in. Creawe cuines obuut under the oferstivn of a Granger law which reduces the tari! to a ruin ous rate, Taonswa, by an acinal unprecedented increase of burinesr, and the practical evasion of the law. It will be noticed ihe lurgest incresse is iu the east aud west Jinos connecting wich Ubicago, Tho managers of theae raise dixcor- ered that under the law of contracts the railront tariff Jaw woe inoperative im tuat at cunt Bot apply ts contracie to bo executst without the State; conseyuen'ly thoy fxart the tariff on through-froight eutliciently high to Gutnpenwate for Ue jons on jucal freighte, whtob vere patpoualy low. ‘Lite is ove of tue bud feat- ures of the lin, and should be remedied. Tt [laces all conaecting branch-tines in the same eitss us the truuk-line, Many of them da not pay inure than operating exy.er bed. oud set ther al como withtu the operation of local tant rates, as thoy aro all within the State, Under the operation of thin ra,iroud tanif lait, a8 cou- structed aud euforced by the railroad compauica, farmers are paying 6 conte per bushel on grain, gud frum £12 to Sly per car invro to gat their product to Eastern market than they dtd before the law wus passed, Tey been to ees tt und fuel 1, and a change will be mace when the uext Legiumlature comes tog :ther, HAILNOAD IMPROVEMENT. Since tho Des Moines Valley Lailroad was di- vided, the south half has been vartly improved. Sow couches, now engines, Pullman sleepers, bew steel rails, and new employes have bern auded; and the road ts run for tho intorerts of tho public, wiereas bufore lt was ran directly intobaukruptey. Ono of the most marked signe of progress way shoan, the other day, a: Pella. Tha baggave-emasher was slinging the baggage out of the car, wheu a traveler picked U bis Yas lize with one ‘Landle mixsing. Le 1d out, “ Why didu't you take off both bandies ?" "Tue ruie of tho road is to leave one handle on @ trunk,” ropliod the baggaxe-piteher. pea A a THE POTTER LAW. FOSITION OF THE WISCONSIN RAILROAD OFFICIALS. Special Inapateh tu The Chieayo srivune, Manisox, Wis., Feb, 24-—Tho rmilroad quew tion w st uppermost amorg momkors of the Legislature and outarders, of whom thera are a large number here, fucluding leading ratlioad men of the State. The following statement by oflicors of the different railroads is publisod to- day, and produces o good impression: Tutha Honorable the Setvneanit Assembly ts ‘Evorts ate wdurtrivusly misdu to waferepresent the relutious of tha railroad companter to the Jectalation proposed in modifcation of the Potter tow, ‘Lucy are Teprosented ay iaboring to procure, the ue conditfoual refeal of that ey aro accused of indicating na ry of their own, aud recking to procure favorable legislation oy acerst combinations aud consynrwctes, A roisiuder staudbug Letweea the repremuntatives of the people and of tke companies ob au vital aaubject woud ie a great tmvforiuue. If ft ts “to: continue, 1 suall uot be our fault, To. say that wo do not desire the uncon{itianal repeal of that law would De untrne, ‘To xuy that we have over entertained the Dope of procurmmg that repeal is also untrue, Our jo ution frum frst to last as been 10 as fevoroblo— Iegiwlation aa poasible tuitigation of the hardships. of — that lav, We saw a bill which we were told embodied the views by the tig Itallroad Comintentouers tn their taut it.woa drawn by them, Mony of ite provisions wore severe, but, as it aubsttuied for ko uruitrary tart Axed by daw a Utnltin tion “upon” prota, leaving the companies coutzol of the'r Guatueas below tuat pr Ot, with extra ordinary powore im the Cuimmiesioner. user discrimi natione uid unreasonable rates, wo u .cemined after reflection tat we would try. and fy. under it, and make Bo oppositiun «to ita passage, ‘That Dill wan muvsequently repudiate Jonty of the Commissioners. low presouited a vecond Lill tothe Assembly Commit tee. It contains the samy catdival princtple, u mutts (ution of @ imitation of protie fur aruitrary rates, We lava been permnitted to sox it, and, in open seewion of the Conmitior, we stated ‘in what ree specs we thongbt ft wrong, ana asked fobave tt amended, It fs atili with thst Commitiee. We know nothing of their probable action, If they should report the bill wiu tuose omeudments, wo Shull attempt coopposition to fia pasuige, If tt tu re pore seuliqut ein, we azall appeal to the juatice of jo Leglulutury toadopt tue, ‘That fa the patio we occupy, and tt will not be changed, It the proscnt law i continued iu latce, the absolute ruin of ad the companies ts inevitable; the Turn of soe of them will be {mediate aud Hasl, Auy Bateiente inputing 10 Ubuve companies any olor jo filion or purpuse than We have iudicated, nv mate tet from waat sourea they come, are unteu: (piqued; Jasin HE, Hows, Vice-President Weat Wiscousia Nailread Com, Jou 0, Gaver, Assiatant General Bianager Chicago, Muwankea & St, Yau Hailroad Company, Axous Sits, Vice-President Muwaukee & Nortwern Raurvad Com. pany. 4, Hf, Ponrsa, General Manager, Chicago & Nurthweateru Lailroad Compauy, CitanLes L, Coxpy, Vice-President of the Wisconsin Central Ratiroau Uoin- pany, Mabnox, Oe The Assembiy Railroad Comunittoo heard argue niente thiv afseruoon by Railruad Comniissio.i ois, aud 19; rexentativeu of railrosda, ‘They Lave | adopted the bill exsabheliug ra:ca so os not lo create net reocipte over 1) per cont on tho ap: praieal of proporty, and retaining the Power-law rates til! the appraisal ia aado, ‘There seema to bo op irrepresaible conilict winoug the Railroad Commissioners and Alewurs. Hoyt gud Ovbora ov ono side and Paul ou the other, ‘Thoy are publishing daily card dotiuing thoir difference. —-—. MISGcLLAN OUS, THE BAILUOAD Wan, No now move bias bocn wade In the war bo- twoon the Baltimore & Obio aud the Pennaylva- nia Railroads, since tho day before yextonisy. ‘The ofticors of the latter Company have not yat arrived 10 the city. being datained by the illness of Mr. McCullough. the Genoral Mauager of tha Pistaburg & Fort Wayne Nailroad, who broke # rib and wap sovorely bruised ou tho bead iu the late accident on the Pittuburg, Ciuciunat & St. Louis Hailroad, near Stoubonville, “No reduc- tion in the rates on ¢thiv lino will be mado until’ to-morrow, wheu Gen. Myers, the Genoral Passenger Agent, and Mr. Laing, the General Manager, are cxpactod to behore. Tho alumore & Olio iv atili doing a good business in the sale of tioxets, though tho ruvb has sonio- what wubsided. Notice was given by this Com- vany yeatorday that it lad porfected atrauge- ments with the Valtimore. Wilmington & Phila- hin Heilroad by winol passengura mil bocar- through to Philadelphia, and will uo longer tie ri be usdor.the neceusity of yulug through more in a ‘bus. AKOTUER REDUCTION, ‘The St, Louis Lemocrat saya: for fare to Cinciunats or Louisville ts the to a small Ouly rate which the Vandalis uow snnouncé: Uandbill beaded “ Ho! cause appears to bo a similar bandit is: r ously by the Ohio & Misiusippl, offering tivkela to Ctuclonatl and Louisville for only $5, to Wauhingtus end Baluitmors for $15, to Fulladelphis for $17, and to New York for $20, How long thieeort of war will leat * Yo quces, Acting with the Pusuaslyairs combination, the Vandalia evideutly proposes 0 force tbs Oblo & Jow threuyt rates eaatwar: to “te dy 1 not to jose Ils Cincinnetd aud Loulvville busines, Meauwhile, if the war tegina | tans vigorunaly hergen the Paunsyiveuts eae, a Pronouis tuxt extremely Jow rater to Eantem eiuer tuay aon Le obtained, TUE CANADA BOUTITENN. The Canada Kontthiern Raitroad, whose ferry- boat las beun frozen fast in the tce in the mid- dle of Detrat River during tha lat aix woeke. han Gihally heen retevad. ‘Lhe crossing is now eutirely free from ico, and trousfers are wage again an uenal, THE DANVILLE a VINCENNES, Mention was made ‘Tuesday of tho appoin! meut of Reccivars for the Cnicago, Daivdle Vincennes Hailroad by Indge Meloberte, nt Jul- fot, upon the application of one 7, Oa good, “who, it appeara, held $11,020 o! the morteaze ants of the road, | It ts aimed by tho reprenontatives of the rallros] in ‘Kesuioo that the pisceadings wore ex-parte ; that po notice Mas yiven the Compan aud that the Court refared ta oa tuuo the mation to apont x Receiv- er gut the Company could tho representatives of “tha Cum, further, and itis sntutantated py the offer wae made Tucstay to 251,000 ciaita, prsucinal aud iutareat, as cask. aud that the same Court retuned tu accept the woner or to dircharge the [eceirens, ft 's Turther claimei that creditora rep- rexenting = $3,500 out of the to al devt “of” $3,800,090 were appuned to tha acpointment of Receivers, Lit wo.e not eomled end that he application wad invls at Jolist simply to keajs ut frum tueir knualedse, A Motes tui -ciarge the Bsevers wii be wal atlolist Monday, backed by ceditaie te the amount of wJ,A),00, THE KASBAK MIDLAXD. Special Lisi stata che Canass RaxsasCttr, Mo. Peb, ed commenced agaitiet tho Trioune, ult hae been ausas Midvapd tor Keuze. Lager pasta toalay. en route fur Bb stiu, ato rel the ruad. which ies a bad furoueh tae ei mhere he ing vaiand, Mt. Vernas & Colundun Ra: ros] Compauy wan eid a: $11. Vernon tu-day, al Wlicu tie at clecsa.u of Directurs tor tie ou- aang year was held. whicn iesattnd to the cvoice of Lionas D. Mosatur sud Witiant Slaw of Piztaburg 5 George B. linberts, of Puilade pir tie Hou J.B. Swan, Ieracl and “Caarles Wolism M. Orr, Orrs) and Jauac diarestaz, Millowwvarg. went meetin: of tae Diresturs for orgay.zation, bomas D. Wessicr was re-elosted Presileut, aud Joseph Davie Seczarary. THE WEATHER A TENNSYLVANIA FLOOD. Epena! Liv at hte The Caecoo Tribune, Maxevsenn, Pa., Fob. 24.—Tae ive Lioke up in Chartiar’s Creos to-day, gozged at tne lowe bridge, and completely averiluwed the town with water and tec, sua waehed array tho irov bridge at North Mansfiold, several dwellinga, aud did considerable damage to all the property in the lover end of the tuwn., Tho creok is till rn- ing over itebauka, The ico naa boon gurced athe raitroad bridxa since? p,m. yesterdays, audan immense amount of’ ico baa been dls- tributed over the north end. Four miles of ico ace reported gorged ¥ miles south. If it arsives befere tho present gurge clears, is expected it WH Waal away tho Main stroct tron bridge, and many moro small dwell: witoated 19 the low dis- tricts, Over 209 poujla who ware rendered homes lees oy the flood were tuseu care ot at Hroan'a Jind ‘Iast mpht, and trst wumter for to-night, ‘ho estimate of damage yel, THE MISSOURI TORNADO. Sr. Lours, Feb. 24.—Later accounts of the tornado which passed over Pettis County yertcr- day, ay several dwellings aud other batldcnen fr tne county were doatroyad, bat thy princisal damage waa done in Housioua. Tho storm wes ovly 150 yards wide, but terrific tu power, and did ita work in Houstonia in thirty seconda. A train of treight-cara wap biown from the track, aud somo of the cars carried adissance of 109 yards. Beside W. H. Porter, who was mortally wounded, Ds, Willisins hadseveral ribs broxen, bis luugy eoriously jured, and he will piocably die. Several ut! peruonn bad linibe fractured. or were othervise adly hurt. ‘fhe loss will bo abont #1l,00U, several of the buddings deatroyed having beca ate and they, with tho goods in them, were & oral loun, “OFFICIAL REPORTS. Wasntsoton, D. C., Feb. 21.—For the Upper Miesissipp: and Lower Sfissourt Valleys, the Nortuweat, and Uppor Lake region, rising. fol- lowed by falling barometer, colder northerly winds, avd cloudy woatuer, followad by warmor southerly winds. LOCAL OBSERVATIONS. Untcago, Feb, 24, [Rare Wind” Ran ireher, Time, " “Mazinum theraioteler, 957 miuhmnta, 29, GENENAL ODSERVATIONS, Cittsaca, Feb, 24. Maton, | Bar. Tar 29.78 [39.78 22,79] Cinemiaats, Cueyenu Caicayo. Creveiand, La.venw'th (40.07) Milwaukee ./29 ut suow, Brvkourige! 99,07 {clear, Tole wijGiwudy, Yeuktua, Cleats MISCELLANEOUS. Bpeetal Lupatch wo Phe Chicate Tribune, Sioux Crry, La. Fob. H.—Itcomumecod anaw- ing and blowing boro yoatorday von, and con- tinued td miduight. The wind blowed from the northwest. ‘The temperatura ranged from 10 to 15 degroes above zoro. About 18 inches of snow fell. and itis badly drifted. The Idinotws Ceutral and Sioux City & St. Paul Railroads ara axain blockaded, and trains on those roads aro abandoned to-day. Tic Dakota Southern aud Sioux City & Wacific Companies have thelr roads cloar, and trains aro ruuning a3 usual, Telegraphic communication with the Eaay was interrupted early in the afternoon, and remalued HO til to-day, The slorm extended Wert to Fort Sully, and a great quantity of snow follin that uectiou, Tho weather to-dsy is clondy aud moderate, e Speci Diswateh to The Chicano Feiqune, La Cuoase, Wis. Fob, 24,—Tho traiay un tho Milwaukee & St. Paul and Chicag>, Duty jus & Minnesota Roads were not put ont of tinie as much ay was expected by the severo storin of last pight. Tho Clucago train that #aoall have reachod hore at ondnicht got in ut 10 a, in.’ toe day. ‘Ibe morning traiv from the East arrived two hours late, with a suow-plow and two engines. Tho Southern Minnesota Hod ia Dadly blockaded, It will probably ba a day or two before this rosd vau be cleared, Sreoint tevatch to Lhe Chivew Trieune, McGnesor, Ta, Feb, 24.—Thia region favored fast wight with another terrible enow- storm, extending some diatagco uorth of ma, aud completely blockading all traiua = On the Chis cago, Milwaukee & St. Paul Roilroad, trans wil be susinded for eons ase ‘Ou this road snow 0 a depth of cen inchea, Sey vupates ta The Chicaso Tribune, Br, Paur, Minn. Feb. 21.—The wind and enow- storm of lastnight appears not to have exteuded west of north of hure, Southwest sud eau yailroads are biocked, uxcopt the Liver Diviwion of tho St. Paul & Chicago, Special Dapatch ta Lhe Chtear Tribune, Donvgce, fa. Feb, 24,—The storm of Tues- day, which raged all through this section of the country, bas asain blocaed up a umber of Lowa railroads, and the passausor traiu due from Siaux City in wedged tight in suow-banks betweon Was terloo aud Ackley, It ix reported that a freight srain ie also ditched on the {illucie Cautral Rall- road near App'e River Station. with pait of the eaty Qu tho trick. thue forming 8 blockade in that voction, No Easteru trama have arrived tor eae { Disvaten to The Chicage Tribune. Foxp ne Toy. 24.—The wnow-etorm test night stopped: all trains, aud blocked up the highways leaging to the city, NEW YORK FAILUR New Yonx, Feb. &.—The fruit-dealing honse of A. 8. Baker & Ca, No. 263 Waubiogtan atrest, haw eae Sra btace en tie at fart t 100, uid Lope to present @ favorable Helsioout to ‘sir creditors aud reaume busi- nees, : 3 “HUSSANORY. | : ) Annual Convention of the Northern Wisconsin Farmers. Report of Two Days’ Sessions at Fond du Lac, Fodder and Potatoes Ably and Exhaustively Discussed, Shectal Dispateh te the Claennn Yethwas, Foxy po Jac. Wis. Fob, t6—The anonel Convention of the Northern Wieconsin Agra > turat and Mechanical Asgoctation met in this city At Neocosmnlan Hall yoaterday afternoon at 2:30, Prosidemt Smith, of Green Bay. called the Con vention tu ordor, aod eta ed that shongh ho was sct down in the prograinme for an opening ad- drens, he e ray buta few words, and th ol @ topic tint Lad’ received the attention st many, nud which xbonld = bea, matter of relection for nal Ho alluded tu the too common habit of agriculturintes to took only at the dark eide of things, Tite prac tee had Leen indulged too meh, and farmers were in danger of Leng ctaractenzed as u clase of grembters, He evutrarton former times with tent uate the facuicies farmer hava to meke ids meet, and insivted that ne xpat an the face Of the enrit was equal in all respoctn to this in we live, and that farmers hare the most ft reasuis for ducking ow the bright eve Of things, E. M. Lenton asked tor formation aa to tho beet prare for pasturage gud particnterty for ine durmation in rzard te orchar] gare, Chester Vazen replicd thet thera was great difference cf opinien among daicvinen and farmern in ro- HL ECL to grashes for pasturage. Hiw experience was favorable to a iixtura of timuthy end cover, It is difficult to cuit a grass to all farmers, and for the seasun through. Juno- xineg fe goca fer corly pasturage. but be knew nothing experitnentally of orehard-craws, Te did net thank well of sowing or drilling corn for cons. Lresident Smith's observation Lad not ‘ech very favorable to orcnard-graes. - In she avcrage couutry districtn of New York it was ni ag fesorite crop. It wre uved very lit- ue. It did uot sod weil, ond tho yield wag thin and Light, Te favored eweetcorn for fodder. It was much botter than common corn, and other vaneties were better than the eveigracn. sir, Noe depended for tho carly patt of the acarou on clover, afterwards ou corn, Ho ca.ried four horses and tweuty-forr cows several weeka on thres-fomthy of bn ecee in a dry nesaon, He carriod twenty-four cows twonty-luo days, He preferred Stow's evergreen, and considored it by far the best be had grown, For dairy thero ia great advantage im this, as it keape up tbe flow of milk. AJNR. Morrte, of Byron, inquired it alsika clover should ravt well and bear our revere wintera better than othor clover. Mr. Hazen bought somo eecd once and tried it in tho fall, saw but little of {t, and, i the spring none, Afr. Benton was certain that it was moro hardy than red clover. » It is eimilar to white clover. and is particularly valuablo for beow. Br, Mtoe asked if any one }revent hod grown mullet, and, if a0, what wore is characteristics asa crop. Mr. Jonew reptiod that ba lisd grown millet several years aco in this country ; sovedtsvoacrea on the 4th of July ; tha: tail hud aa fiue a Jot of foddor ashe ever saw. ‘Tue yield wus over fh tons to the acre, Ji was good feed; he fatted Ins boge on it, and never 6a hogs fat faster, though the pork wus not aa solid ay corn-fed park, Tbe growing of millot Lad one drawbacn—it would impoveriab land to a greater deytov than any ono crop that could be put upon it, Preetient Smith asked for experience in growing rutataces, carrots, and turnioe for stock-feed. Mr, Itoo had rained and ted carrots with exeriions success, [le expected to raise 2.000 bushels thin year; thongot they wero worth at least 0 centaa buskel to lum aa feed fer voww, = Ag variety, =e = opre- ferred tho halt long, as the yield was large, and tuoy were easy to dry; ho hal rawed uO bushels ou» quarter-acro. Preuident Sanith had fed carvots to Lorces. and never saw them do better on any feed; be thought farmers ebould use route more. J. F. Beeole wanted to kuow wit kind of laud. aud what condition it ehonld be in, to'grow root crops anccessfully, Preai- dent Smith rephed that they contd “be grown quite euecereiully on ordinary soil, but, of course, the better-the soil tho better the crops, 8810 growing anything else, Mr. Roo desired opinions as to tho best man- ner of carrying stock through onr sovero win- ters, Wo bavo bad a savere wiuter, and this was an impor'int matter, Mr. Benton thought the tirst cousidoration was analter for stock— wholter that will Koop them \tarnt aud aot re- ure half they aat to keep up the uecuseary ynimal heat. Properly-honsaa stack would gu through the winter on inte fexs feed and Jook better in tho epring, Slelter—proper stiel- ter—Was inore important than the quality, yaricty, and amount of feed. ‘Tha huoping of horees in comfortable wtabies kopt thor svetemys tm good cuudition, and they would atand ex- posure batter wuun taker aut ivto tha cold, 2. S, Bounstt bad tried dimeront mothods of feedug and keoping and cows dunag winter, Ho thought the horse nuould not bo allovsd to eat pay all day foug. and wasinjured by so doing. Jin beet succen® had heen to cur hay and malio into feed with mill-feed, Mr, Hoo thought wator better than steam to wet up cat-fced. All hiay or straw used as fecd shout! beeut. Mao is of opinion that it is as invcusstent tv raquira stock to tick to onv kind of feel ax it is to hold that meu should nover tire of one kind ef food. Mr. Bontow thougiit stock should be fed vo ax to produce Road conetitutious. Change of food to induce an increased desire to cat produces gluttony, aud is injusions, Give stock that which is nutri- tious, regardloss of varicty. P, S, Bounett then read an esasy on oron mental trec-planting. when the Couvention ad- Journed until even. Yo-vight Judge Pulling will give an addrova on tibsvca-cuituto, ufter wbich the following question whi bo discusad: "Are Trials of Spoad Called Horae-Rasing Necessary to the ere of Apricultural Faire le sovers storm which pre- i bad the effe y yout many atiendivg who otherstve would tiave’ been present, hareah There was a fair tendanoe, however, aud a quite ine - toresting meeting. Mayor odd gave ap ad- dros of wolcsmo to the delogstos. epoaking some tacnty minates, in fis cual ready mans nor President Smith replied ju bebalf of the strangers present. Tho folluwing resolution | was then discussod: Reateed, That the or-operation of al) witnalries of both eny and canviry Is neccansry ty the auocess our agrfenitural fatr, On this resolution there waa s ganarat tall, drifting iuto the quastion of io vrovriety or ne- ceuslty of paying large prowiutie for buisa-race lug at fates. : Wednesday morning the Committan was called to order by Proadest Sunth, the ilrat of the pro- grammy being # papor cn the past. provont, and Satire of aerlotiture ty President Siaith, That Rourlaman theo read an intereauug esuay on thet subject. Tho ihonehts on irripation auggawted by the easay gave rign to wo08 wiscdmeiun un the valuD of irrigation, WD remarke Gu the aubject Ly: Rou, Sauth, Bouton, Younert, and others, ‘Mr. Chnmimgham’s payer on poultry was next on the programme, but that youtleman, Lene wuow-bound, Was nok pravgne to duliver it, Mr E. W. Sauders (hen read a paper op pote toculture, The eeray guve rise to wich disci 1 as to modes Of Praparing ground and svcd, 48 to the varieties moat protitebie to raid ia thie climate, The general opunivu svomad tu be Suat not to exccod four “oyea" should be planted tothe bill, and that the largoat and wet perfect potatosa euould be wolecte! for ceed. Alerge supply of seed in = bil! would produce inal potatoes, Als, Saudurs snsivted . tha: planting uncut seed would” produce s very ainall yiold, To cut the potato itsouted sooner, aud bad a Letter cbanve and wore time to mae ture, Potatose should NE be planted om the | aanie ground wuccessively. 4 Weduasday atteruuon di, Benton read 4 paper on fats sud fa! oiu farming, whiob brought out much d Cueator T Frosident of the State Dairy inan's Agso..... 1 sead a paper. ltovataloed uo ner ution. W. W. Field, Seorotary of the State Agricaltural Association, resd a paper on inser ext, ‘Tbiv elicited warm discuasion, which was eutered jute b: Celt Benton, Col O. K. Pier, J. H, Houser aud others. : ‘Yhe Convention will close Thursdsy afterucon.