The New York Herald Newspaper, June 21, 1854, Page 2

THE ATLANTIC AND PACIFIC RAILROAD COMPANY, THE PAMPHLET CONCERNING ITs ALLEGED DISHONEST MANAGEMENT AND THE COMPANY'S SPECIFIC VINDICATION, Interesting Facts in Relation to the Progress | s% of the Enterprise, de., &e., se. Expose of the Atlantic and Pacific Bailroad " vempany. BY CORNS. GLEN PEEBLES. ‘The Atlantic and Pacific Railroad Company never | }, had any legal existence. The charter conferred the duty of opening the books to eighteen commission- ers, the re of whom never attended at any time when the stock was subscribed for, The sub- scriptions were therefore illegal. This irregalarity, | however, does not affect the charter, it being com- | tent, at any time hereafter, to open subscription | and effect a legal organization under it. | Un this existence of facts, no man who has | subscribed for stock is under any legal obligation to Jeptha Fowlkes, or a majority of them, be, aad they ars hereby, authorized to submit to the Governor of the State of Texas a proposition, on such terms as they miy deem best, for constructin nipping and operating the Mississippi and Pacific Railroad as au by the art providing for the construction of said road, passed by the | Legislature of the State of Texas, and approved the 2lat Decem 53; and that they also be author'zed to con- | tract with the Governor of said State for building, equip- | ping aud operating said railzoad, on such terms as they may deer best, pursuant to the provisions of said act; | and that the awid Walker, King and Fowlkes, or a majori- | ty of them, be further authorized to perform ail theacts, | and give ali the guarantees required by said law; thet theyyor a majority of thom, be also authorized to associate | with’ them ia said proposals, contracts, and guarantees, such persons as they may select; and that they, or a ma: ij f them, be further authorized *to organize the | ny, under said law, fer the bullaing, ‘equipping, | and operating said .oad, and electing the directors thereof. Resolved, That all the rights, privileges, benefits and | advantages, grants and donations, accrued or accruing | Under the act of the State of Toxas, entitled amact to provide for the construc’ ion of thy Mississippi and Pacific Ratlroad; and the contracts to be made for the building, cant nd operating the same, shall inure to, and be j held f benefit of the stockholders of the Atlantic | and Pacific Railrond, as desiguated, and to be designated | by the Executive Committee of said company, including all rights already secured by contracts with ‘other per- | gona, companies or associations, as authorized, or to be authorized, by said committee, or already ratified or con- | firmed by them. Resolved, That Robert J. Walker, T. Butler, King and Joptha Fowlkes, or a majority of them, be, and they are hereby, authorized to make such arrangements as they, or a majority of them, may deem best for the purpose of securing to this company the charter of the New Orleans pay, there being vo company. n had the commissioners been present at the | opening of “the books, it is evident that nineteen: | twentieths of the subscriptions were manifestly in | bad faith; because, upon examining the books, it | will be found that such a proportion have not paid / the assessments, and are totally irresponsible. Sev- enty-four millions seven hundred and sorentp ive thousand dollars ($74,775,000) of the stock being taken by twelve men, the aggregate of whose e:ty, real and personal, will not exceed oue million. There are $500,000 and over, and less than a million, | sixteen;and of over $100,000, and less than $500,000, iwenty-nine; and eighty-nine $100,000 subscrip- | and Texas Railroad Company, and such other charters, granted by the said State of Texas, as they, or» majori- ty of them, may deem best for the interests of this com- pany; and ‘if they deem necessary for organizing the fame. that they, or a majority of them, be, and they are hereby, coustifutedgthe general agents of the Atlantic and Pacific Railroad Company, with full and plenar Powers to represent and act and contract for them, in all Inatters and things Whatsoever, connected with the rights aud Interests of this company. : Resclved, That Robert J. Walker, Joptha Fowlkes and T. Butler King, or a majority of them, be, and they are | hereby, authorized and empowered to issue and deliver 30, much ‘and such portions of the stock of this company, as they, or a majority of them, may deem or find neces- ary to fulfil the various agreemuents or contracts, and, ious. Zor 595,060,000, $25,000 fs all that has been abso- | futely paid on assessments of one-tenth of one per cent: Had the subscriptions been in good faith, £100,000 should have been paid on that assess- ment. On the second call of a ‘y out the powers conferred on them hy the resolu- | ion’ this day adopted There is another resolution authorizing Walker to | settle with, and to audit all the accounts of all the gercent, due 20th May, there should have been pro- | Tom Green and Woodhull to allow such sum to duced 100, but itis believed that not $10,000 b wat aggregate, not to exceed $40,000 has ) paid in. In this amount is not included an amount of $10,000, for which Mr. Walker obtaine receipt from the Seerctary, as the consideration © pretended sale of “a right of way across Son Chihuahua,” which he might procure from Santa Anna. He was allowed thatamount by the execu- tive commi e known that the conclusion of the badsden | q endered such pretended right simply ridi- ilo7 x “The stockholders of a million and over are asfol- | ¢ «819,000,080 0,000 2,900,000 0,000 000 | 0 7,000,000 1,000,000 1,600,000 1,000,000 1,090,000 Cy Selah Cham) Stewart Newell. L.$. Chatfield, : ales $ 000 In the above subs ptions there is more humbug and less money than can be found on any subserip- tion paper on the face of the earth—Waiker’s Texas Central Railroad ex The real and personal Total holders of the com stand, no man c! nd these omnipotent ty No corporation can 5,090,000 al! its powers, un! to Co so by its chart have sur belong to the people, and when granted by them, they must be terms and conditions of the grant, and a transfer of them, or an attempt to convert them into a trast | estate, is such an abu b Walker as they nay ears) and two or three others, | —showing a much greater falling off. | gllowing Woodhull, G each, in effect, to be full paid stock. reen, &c., a million of stock “ | These resolutions gross fraud on the stock- y, and if they are allowed ‘to | vith safety pay his money to ees. Here arethree Southern slaveholders acting as agents of an association of | t men, who have re ee, and he transferred, without any | ately violating their trust, and with shameless impu- it of any kind, and after the parties should — dence, substituting themselves, ia the place of the osed confidence in them, deliber- lirectors, the stockholders and the company. What- cyer money has beea paid into this rotten concern has been paid by Northern men, but these conspira- ors are not willing to so far compliment the North as to allow them one member on this unique Board of Trustees. (And a proposition was further mooted to interdict free labor, &c.) There can b@ no doubt that these resolutions yperate as a dissolution of this corporation. create a trust, embracing it is expressly authorized , Without being deemed to ered its franchises. These franchises eld and exercised according to the of the grant as to work a | forfeitu: Being abused, they revert to the people. | What, in legal effect, are these resolutions ? | |. They authorize Walker, King and Fowlkes, or a ma- 0 bd epted. ; Walk kes or a m estate to uphold nearly 000,000 of this stock, | {yet} of them, to propose to the Governor of Texas for | will not amount to $1,000,000, 2 | The subscribers of $500,000 and over, and less than a million, are :— 004) 600,900 500,000 000 7000 500,000 600,000 of the | million | fourteen men represent $7,10 nd are probably worth nearly half a all told, sees $200,000 000 A. Scott George Ml. Pi Jorepa Rushai George N. Barker W. Scott Jarvis 150,000 oe 75,000 Of these 29 men it would be difficult to designate one who could be regarded as a capitalist. There may be half a million amongst them to back up the $5,975,000. Of exactly $100,000 subscriptions, 89, making the entire subscriptions over (397,750,000) ninety-seven mi dred and fifty thousand dollars, There are not, probably, exe ng $1,900,000 of bona fide subscriptions on the stock hook, nor to ex- ceed two millions of money standing behind the $100,000,000 subscribed, and even the few who sub- scribed in good faith are turned oyer to the tender mercies of Walker, King and Fowlkes, by « self: created trust. In organizing the company, @ was sought to give it an odor of nationality, and to that end Southern men were brought in, and unfortunately amongst them that old flibberty-gibbet, Robert J. Walker, the ci-devant California collector, T. Batler King, an the broken banker, Jeptha Fowlkes. These men, by extraordinary activity and hypocritical subservien- cy, got themselves placed onthe Executive Commit- here are just $100,000, and ions seven hun- tee, which was compozed of six membe: To show the nefarious uses ma-le of the trust reposed inthem, a few of the resolutions of that famous committee are here transeribed:— Novewber 5th, 1863. itted a reaolu ion that all stockhol:! 000 of the dock of the company ve cifa w nice ') re- to transfer the excess boyond that amount to the ‘and stated that unless such a resolution was e would retire from the company. That reso aon Was amended by inserting $500,000 instead. Aud, | ts amended, was adopted. Let us see he Mr. Walk ex regarded his resolution and pious declar 25th.—On motion of Mr. Wi i of Walker, Woodhull and fa commit. pointed, with power to acceptor reject for teansferring to this company an, other privileges or rights to build any’ pi tic nd Facitic Railroad in Califor Terzilory. : ecember 15th.—Four members of the comuittec —Walker, Fowlkes, Woothall and Bridge, being pre sent, Walker propose! and offered to the Atianti: and Pacilic Raitroad Company, ‘all my interest, prese coutiazent, in any railroad charter or land: connected therewith, ‘that may be obtained by me from the oy nt of Mexico, in the State of Chihuahua, or So. | ernme: nora, assigning only, without warranty ny Find, my | interest, present or prospective, as abor: ated, on the following terms:— Ist. The payment to me of $10,000 cash. 2d. The return to me of $500,000 of full pail atock of the Central Railroad of Texas, in case I shail have paid the same for said grant and charter, and not otherwise; or the assignment to me, at the option of the company, of $500,000 of full paid stock of the Atlantic and Pacific | Railroad Company, to be exercised and carried into exe culion on or before the 15th January, 1865. Whereupon it was resolved, “That the preceding offer of K. J. Walker bo accepted.’? | ived, That the treasurer of the e¢ rected to give R. J. Walker credit, on the 7, for the said sum of $10,000 Walker took a copy of these resolutions to Mr. Le- land, the Secretary, (there being no Treasnrer,) and demanded a receipt of payment of the first assess- ment on his $10,000,000 of stock, and by bullying, (for Leland did know enough to see the gammon of that,) with the aid of Woodhull and Bridge, finally obtained such a receipt. It would be nonsense to suppose that Walker ever had auch a charter from the government of Mexico, or ever expected any such. He knew that at that very moment the Gad-den treaty had foreclosed any | attémpt to obtain such a grant.” It was a sheer con- trivance to retain his $10,000,000 of stock, without paying any assesamente on it, and edule his re- cely f> detrend and sednce others into paying, not- Situetending his hariot virtue when he offered his $100,000 resolation. December 16th.—Present, Waller, King, t We yao, and at taatll, ove, Tiat Movert J. 4 tant + shi | the company are to be hey authorize Walker, King and Fowlkes, or a ma- them, with such other persons as ihey may select, to contract with the Governor of Texas. | 8. They authorize Walker, King and Fowlkes to orga- | nise the corporation under the Texas act, and to elect the directers. jority 4. They authorize Walker, King, and’ Fowlk pore of all the stock belonging to the eémpa probably about sixty or sixty-five million: terms ab to perpetuate this power in thei 5. They declare that the 8 Ito dis- which is and on such ands. ntact to be made in Texas, and all rights Ay acquired by the company, al (by Walker, King and Yowkes) for the uch of the stockholters of the Atiantic and ‘ompany as they may choose to designate. They appoint Walker, King and Fowlkes general nts and factotums to do any aud all things in their retion. Under this régi: become of the stockholders have paid has penniless advent ateckholders. J re: a ae, it may well be asked what has | Jantic and Pacilic Company, and well inyuire if the money they expended to enable three needy, ns to declare that they are not that these resolutions are utterly inconsistent with the charter, and the two capnot stand togeth They are equally incon- sistent with the Texas act, and the Governor of that State cannot. make a legal contract to carry thcm into effect which shall bing y. He can wikes, and persons as join with them inthe proposition, aud become a body corporate, but that can in no 8 bind the Atlantic and Pacific Company, nor inure to benefit of its stockholders. What as- surance sociates of g lexas proposi- tion, will assent to the slightest recognition of the stockholders of this company? It must be.remem- bered that Texas is a sovereign State, competent to make her own laws, and that the corporation creat- ed by her railroad act is an independent body, and may not choose to go into trust to Walker, King and Fowlkes. They may well say to them, that “we cannot recognize your resolutions. They afford evidence of your base betrayal of one important trust—we will not trust you"with another, but, act- ing independently, we will select our own associates, and endeavor to commit this great Texan interest into honest and ¢ompetent hands.” These men have not yet obtained the contract from the Governor of Te. and it is not probabie that they ever will. The Governor is honest and sagacious, and will never commit so silly a blunder as to put this great road to wet nurse te Walker, King and Fowlkes. He will rather give it to any honest man who will propose trusting to its intrinsic merits to interest men of means and character sufficient to insure ultimate success. Payments are not made on the stock. Thege reso- lutions afford reasons why payments are not made. Wise mea will not pay, who are not permitted to have a voice in the selection of their agents. By these resolutions the stockholders are placed in the condition of infants, lunatics, arankards; married women, and persons laboring under disa- bilities—they are in trust, and cannot vote on their stock. Again, there is nobody to at stockholders, yonr Walk Kings, Woodbulls, &¢., i men, are pensioners on the holders, and devour pay. it is, 3, ad of being paying poor paying stock- faster than the small men can , undoubtedly the design of these men to milk the North # as possible, to obtain the means to get to 1 and then, if they can get the contract { the Governor of that State, to take the thing to London, and sell it out for what they can get lnded Northern stockholders that they were asses for wv @ their money. Walker and Kiog know how to keep other people's money. They have had coe ce, amd with them it has never been a mat- er of onscience. These men have already p: and prom to pay, in larwesses to favor n ly nd all the money obtained by ments will go into that gray never been ay resurt pocket. They have promise bonus of $ for raising the $300,000, to be deposited in x A pretty strong shave, and one under which no company can long surviv for this the bonds of is » Why do not the trustees issue their bonds. inasmuch as they have got, in their own names, all that belongs to the com- pany? Tt is a rotten aff seedy, nungry vampir out. g's 008 kept on foot to keep a few sin bread, and so it will tarn Reply In Behalf of the Company 63 Beaver Srreer, New Yori June 19, 1864. TO THE PUBLIC, A pamphlet, purporting to have been issued by a person calling himself Corns, Glen Peebles, has been published, assailing Atlantic and Pacific Rail- road Company, and especially the undersigned, as directors and members of the exceutive committee. The first charge relates to a sale made by Mr. Walk- er, of certain contingent and prospective interests, owned by himself and others, along the line of the proposed read in Mexico. ¥e would remark, in the first place, the suppression of the material fact that, as carly as ch, 1858, long preceding the grant of this charter, Mr. Walke d those associated with him paid in cash six thonsand f dollars, for which the vouchers wer excentive committee, aud i lumdred liled with the rred othe for the pur f purebasing from Mexico the right of way, and adjacent lands in Sonora and Chiima bua, constituting a ne y part of the line of a pad to the This the rail ot estorn by bey hase the road,ard 4 active men’and agents of the company, for past, | 9Y interest in procuring Mr. Leland’s receipt oa marter of one | present and future Jabors; and another, appointing They will then tell the de- | + | charter of T pbilities, | acquire the territory from Mexico. Besides the money advanced by Mr. Walker and his associates, they agreed to give the government of Mexico half a million of full paid stock in one of the Texas railroad companies, to which had been grant- ed at that date, by the State of Texas, five thousand one hundred and twenty acres of land for every mile | of rornd to be constructed, which grant has since been doubled by an act of her Legislature. Last au- tomn, intelligence was received from Mexico, in- | ducing the conviction in the minds of all who read , the communications, that Mr. Walker and his asso- | clates would obtain from the Mexican government this valuable grant of land and chartered privileges. | Under these circumstances, the executive committee of this company urged on Mr. Walker the necessity of transferring to it all his interest and that of his associates, present and contingent, in said grant. ‘Thus urged by the committee, Mr. Walker proposed to sell this contingent and prospective interest to the company on the following most reasonable terms, namely:—Ten thousand dollars in money and the return to him of the Texas railroad stock before ' referred to, in case only that he should have paid the same, or in lieu thereof, the same amount of the stock of this. company, at their option, and not Mr. Walker’s, up to the first of January, 1865. On the 15th of December last this proposition was accepted unanimoutly by the executive com- | mittee of thiscompany. We would here remark first, the suppression of the material fact, that Mr. Walker and his associates haa already, saouniy $a March, 1853, advanced six thousand five hundred dollars in cash, as above stated, for the purpose of obtaining this charter and grant of the land from | Mexico; they had also incurred other liabilities by the appointment, and actual sending of agents to Mexico, for the purpose of negotiating for, and se- curing the grants above referred to, Now, for all this money with the interest thereon, labor and res- onsibility, Mr. Walker and his associates get noth- ing but a credit of ten thousand dollars, on the books of this company, since converted into that amount of its stock, now represented as worthless by ovr opponents. Second, so far from Mr. Walker’s having taken account of stock, as represented in the pamphlet, he was entitled to the cash, or the receipt athis option, and it was at the instance of the committee that Mr. Walker consented to oblige the company, by converting a cash liability of $10,000, due by them to him and his associates, into a re- ceipt, for so much and no more, on account of stock. and authority to transact all such business of the ay Con po intervals of the meetings they shail deem e: it, and to tions and exercise intervals of th At the of the Board of Directors, $d of May last, after the record of the of the Executive Committee had been read and ex- plalaes. and in om Sarees Thomas had ry er ¢ following resolution was unani- adopted by the Board :— Resolved, That the Executive Committee, appointed at the first meeting of the Board of Directors, in November last, as the same is now constituted, by ‘virtue of said appointment and this resolution, to contiaue in existence until the next annual mosting of the Board, with all the powers and authority vested in said committee by the original resolution, as well aa by the by-laws of the com- pany, authorizing the appointment of an Executive Committee, as one of the standing committees of the company. It is stated in the pears that Mr. Walker and others, “‘ by extraor Leen a id and Pavocetstonl subserviency, got themselves places on thé Execu- tive Committee.” To show the utter falsehood of this statement, it is only necessary to remark, that when the Board of Directors convened the first time, in November last, it was the earnest desire of a large majority, that Mr. Walker should be elected President of the Company, which he peremptorily declined. en, on the 3d of April last, he accepted that | office, it was only because it was deemed pen- sable to the success of the company that he should | occupy that position. When the Board of Directors met on the 3d of last, Mr. Walker tendered, in writing, his resignation of the office of President, and the following resolution was unanimously adopt- ed by the Board:— Resolved, That the Board of Directors decline to re- ceive the resignation of the Hon, Robert J. Walker, and that he be, and he is hereby unanimously declared to be the President of this Cofopany, and that his holding this position is indispensible to the success of this Company.” It will be perceived by the above resolutions that Mr. Walker, with the undersigned, and the other members of the Executive Committee, were conti- nued in office by the unanimous vote of the Board of Directors, after a full examination of their pro- ceedings. With respect to the large amount subscribed by Mr. Walker, it is only necessary to state that it was a bona fide sobecrip' ion, representing a great many persons, (who had already expended large sums in the enterprise,) and, as the result will show, has been, and will be, used to promote the best interest of the company. It is very true that the original subscribers did not exceed some hundreds, but, from the subdivision of the stock of the company, passing daily into the hands of small paying sub- scribers, it is believed that our stockholders will | Our Boston Correspondence, Boston, June 17, 1354, The Cholera—The Small-pox—Condition of the Banks—New Hampshire Affairs—Great Anti- Nebraska Meeting in New Bedford—Works of Fisher Ames—Miss Liberality of Mr. Lawrence—Celebration at Gro- ton, §e. ‘The authorities are arousing themselves to the | necessity of doing something to fight the cholera in | case it should assume the character of an epidemic. As yet, whatever it may have done in other places, the disease has assailed no one in Boston who could have claimed to be respectable, as that word is gene- rally used. The sufferers were unquestionably wor- thy people, but their modes of life resembled rather those of men in the very primitive ages of the world than such as characterize an extremely ad- vanced and a highly refined state of society. Half ascore of people in the same room, in one of the worst streets of the worst quarter of a dirty and dusty city, at the beginning of summer, may be considered, if not a tempting of Providence, at least a defiance to cholera, which that grim member of the grisly family of disease would not, in con- science, allow to be put forth with impuntty. It is agreat pity that our Irish population cannot be taught that it is cheaper and safer to be clean than to be filthy, and that if they will not use water in any other way, be induced to externally apply it to their persons. If their priests, instead of drilling them into’ political machines, to the exciting of the rage and enmity of the native born population, would only make use of their vast Mitford's‘ Alberton” — | Our Novia Scotia Hauirax, (N.S.,) June 8, 1864, Breaking Ground for the First Provincial Railway —Commerce—Agriculture—Finance—The Fish- eries—Trade with the States—Reciprocity—Cut- ters going to the Fishing Grounds—Provinciat Industrial Exhibition—The Coasting Trade Go- ‘ing all to the United States. The construction of provincial railways has at last been commenced in Nova Scotia, It is one hundred and five years to-day, (June 8) since Hali- fax was founded by the Earl of Halifax, then Presi- dent of the Board of Trade and Plantations ; and to-day tenders were accepted and ground broken for a railway fromthe metropolis towards the New Brunswick frontier, and the work has been oom- menced in good earnest. After years of discussion, aud the failure of all other plans, Mr. Howe's policy has been adopted by both branches of the Legisla- " ture, and the railways of Novia Scotia, like her pub- lic highways, are to be provincial public works. Four acti were passed in the recent session of the Legislature authorizing the appointment of a com- missioner, with power to expend £200,000 per annum. in the formation of a trunk lineof railway, extend- ing northerly from Halifax tothe New Branswiok frontier, and branches to Pictou and Anapolis. The government are, by o second act, authorized to raise the necessary funds, upon provincial bonds or de- bentures, for the payment of the principal and in- terest, of which the revenues of the province as welt “as the income of the roads are pledged. Auxiliary to this main source of supply, the Receiver General has been authorized to issue °250,000 of provincial influence to inculcate upon their observance certain sanitary truths, received by all civilized men, and ndeed by all human creatures who have risen above Piggeries, it is not impossible that we might ceaso to dread pestilential diseases. The cholera, by one of those “singular coincidences” about which so much is said, has broken out here in precisely the same place, and I believe building, in which it showed itself first in 1849. As then it passed away without doing much evil, let us hope that the coin cidence will be continued?and that we shall now be ittle frightened and less hurt. The small-pox is more common here than could be wished, and is soon be counted by thousands. However necessa: capital may be to the construction of this work, it | ey this proceeding on the oe of Mr. Walker was liberal and generousin a high degree. ‘hird, it is represented in the pamphlet, that it | was known at the date of the purchase, (15th De- | cember last,) that ‘the Gadsden treaty had fore- | closed any attempt to obtain such a hone The Gadsden treaty had no existence at that date, nor | was there the remotest suspicion here of such a con- | templated treaty. Some time after this purchase | from Mr. Walker, the committee, desiring to aid in obtaining this grant from Mexico, sent for a distin- | guished citizen of Maryland, well versed in Mexi- can affhirs, and enjoying, deservedly, the confidence of the people of this country, and desired his pre- sence here, for the purpose of inducing him to P | ceed forthwith to Mexico to aid in obtaining this | grant. He did repair here some time after the 15th of December last, and after a conference on the | subject, and examining the papers, agreed to go to Mexico to aid in obtaining this grant, provided, on inquiry, he should come to the conslusion that the grant could probably be obtained from Mexico. This gentleman subsequentl; sought all the information that could be obtained, heard nothing of t2e Gadsden treaty, and having come to the conclusion that this grant could proba- Dly be obtained from Mexico, agreed to go there to aid in accomplishing this purpose. His terms for this service were agreed to by the committee, and it was only on the eve of his departure that the first news of the Gadsden treaty reached us here by telegraph from New Orleans. It is proper to say, that the committee would never have consented to interfere in any way with any pending negotiations of theirown government. Such negotiations were wholly unknown to them at the date referred to; and the government having approxed the obtaining the right of way for a railroad by the three Isthmus routes, from the governments of Mexico, Nicaragua and New Granada, we had a right to conclude, and did conclude, that if-we could obtain from Mexico . the right of way and a grant of land, essential to the construction of a direct railroad from the At- Jantic to the Pacific, we would perform an import- ant public service, which would be appreciated and | approved by the government and people of the United States. On hearing the news of the Gadsden treaty, Mr. | Walker proy 1d to the committee, that, if it should | be ratified, he would cancel the contract made with | \ him and return the stock to the company; which proposition they declined to consider. Subsequent- | Wy. when the Board of Directors was convened here, in May last, this whole matter was fully explained to them, when Mr. Walker made a formal offer to | the Board to cancel the contract and return the re- | ceipt on account of stock. But the Board declined tu enteitain the Haas The course of events has keen, and is likely to be such, that the company wilk in all probability, be compelled to avail itseif | of, and renew the negotiations so ioedrind com- | menced, and prosecuted by Mr. Walker and his as- | seciatés, for the purpose of securing these grants ora portion of from Mexico, which are indis- ensable to the construction of the roag. If any in- | jury should occur from communicating these facts ; to the public, it must be remembered that this pub- lication is made in necessary self-vindication, and to prevent most injurious consequences to the com- pany, that might result from calumnious assaults uncontradicted. It is falsely represented in the pamphlet: that ‘this purchase was made [rom Mr. Walker by a special committee of which he was a member, whereas it was never considered by that committee, or present- ed to it, but was presented only to the regular exe- cutive committee, and unanimously adopted by , Governor Dimond, the Vice President of the com ny, with Messrs. Fowlkes, Bridge, and Woodhull be- ing present, and Mr. Walker being absent at the time, as shown by the records of the proceedings of the committce. Such a base falsification of the re- ' cords by this pamphleteer requires no comment. As regards the large original subscriptions for stock paraded in the pamphlet, it 1s proper, in re- ply, to say that an assessment was made on the whole stock of the company, and that on the 24th ef March last the following resolution was adopted‘ by the Executive Committee, to wit:— Resolved, That ail said stock upon which said assess- ment has rot been paid Was absolutely forfeited, ipso fac- to, under the 14th section of the charter, to the company, by said non-payment at the date said assessment be- came due. It wil! be perceived thatno person, whether a large or smell stockholder, could retain his stock without meeting the assessments upon it promptly. Itis trne that large amounts of stock have been forfeited to the company, which have been and are now bein; distributed, in small sums, to cash paying subscri- bers. With respect to the powers reserved by the exe- cntive committee to designate the stockholders who shall be entitled to the benefits of the Texas charter, itis proper to state, that upon the original certilicates of stock issued by Mr. Chatfield and Mr. Leland, as President and Secretary of the company, before any payment was made, and which show that the pat- tics hold only a right by subscription to certain shares of stock, liable, of course, to all assessments as magne in the charter, and which could be le- gally issued in no~other manner. A fraudalent | claim, without pretence of any payment, was made by seme persons, to hold said certilicates | as full paid stock. Hence the power that was received on the 4th of April last by the Execu- | tive Committee, in sending proposals for the State to discriminate for the benetit of | the done fide a: nent, paying subseribers, and to | exclude all those who th nrreptitionsly claim to hold these original cert ifica as full paid stock, ithont having paid one dollar. Indeed, unless the | | elude these fraudulent claims, the bona fide stock- holders would have been defrauded of their just rights, ond it would have been useless to have sub- mitted to Texas proposals for the charter. These proceedings of the committee (as well as all their acts and resolutions) were fally explained to and confirmed by the Board of Directors, at their meet- ing on the Sd of May last. At that meeting of the Board the record of all the acts, proceedings, and resolutions of the Executive Committee were read, examined, fully discussed, and explained, when the following id br offered by Governor Thomas, of Maryland, was adopted: Rerolved, by t ‘That all contracts made, or that may be ecutive Committee of this company, or nor persons ac ing by their authority, or ority of them; that all. re: wad that 61 | by said con | performed by any person and dre hereby whateocver In the management of the affairs of railrond cor- porations, it is Usual to vest the power of the Board of Directors, during the recess of its meetings, in an Executive Commitice. utions adopted ity of them, and all acts ‘a majority of them, or acting by their authority, be ied and confirmed in all respects and Pacific Railroad Company directors (twen ve in number) are distributed in almost every State of the Union, such a committee was ab- solntely necessary. Therefore, at the first mecting of the Board, onthe 4th day.of November last, the following resolutions were adopted: cd, That ore, b rity t pre it, ; cutive Committee had taken these steps to ex- | is obvious that such a road cannot be built by a few | individuals, but must require contributions from the | reat mass of the American people. In this case, | the vast domain contributed by Texas, amounting to | many millions of acres of her fertile lands, appro- | priated in aid of the construction of this great work through her teagifor , constitutes a vast element in | our estimate of" available means, and is deemed by us indispensable to succers, { ‘The statements made in the pamphlet, as regards | full paid stock, in connection with the names of Messrs. Walker, Green, Woodhull, &c., are refuted by the resolutions to which they refer. | A principal secret motive of this attack is con- | tained in the polowinasiaieneyt in regard to Messrs. | Walker, King and Fowlkes:--“ Here are three | Southern slaveholders, acting as agents of an associ- | ation of men who have reposed confidence in them, | deliberately violating their trust, and with shame- Jess impudence substituting themselves, in place of | the directors, the stockholders and the company. | Whatever money has been paid into this rotten con- | cern has been paid by Northern men; but these | sea are not willing to so far compliment the North ag to allow them one member in this ex bee Board of Trustees; and a proposition was | further mooted to interdict free labor.” The Execu- | tive Committee consists of three Southern and three Northern men, (some of whom are now absent,) and we have heretofore shown the utter falsehood ; of the charge of a violation of trust, and that we are | proceeding with the full confidence and support of the directors and Lonagide stockholders. i But it is charged that three of the committee are “Southern slaveholders.” Is this any reason that } this road through Texas, a Southern State, and to be constructed mainly by the aid of her own lands, shall be withdrawn from their supervision ? Does the fact that they are Southern slaveholders dis- | gualify them for such a trust? It is true that the abolition press of the North has furiously assailed this enterprise, and ourselves ag its humble advo- cates; but it was left to this pamphicteer to disclose the real motive of these assaults. Willthe patriotic citizens of the North, devoted to the perpetuity and glory of the whole Union, withdraw from this en- | terptise hecause the road runs mainly through a | Southern State, is supervised toa great extent by | Southern men, and from the circumstances of the csee must, like many of the Southern roads, be mainly constructed by the labor of the South? The work, though running to a vast extent through | Texas, connects the North with the South, the At- lantic with the Pacitic, and is better calculated to preserve and perpetuate the Union than any work devised since the adoption of the constitutiow. In such an enterprise we may well ask the counte- nance and support of every patriot and friend of the Union in whatecever State he may be located. But | we must say that New York has no more right to | dictate to Texas the character of the labor to be em- ploy ed in constructing her ronds than Texas to ictate to New York what sort of labor shall be employed on her railroads or canals. We should re- | get if these ecctional . appeals of abolitionists and their organs should withdraw from this enterprise | the support of any of our Northern subscribers. We do not believe that these sectional appeals will preduce such an effect. But the construction of this great national work cannot thus be defeated. If the North should desert us, the South, aided by this munificent grant from Texas, will complete this vast undertaking. We have not sought the supervision of this undertaking; circumstances, developing themselves from time to time, seem so far to have forced it upon us. Our numerous and influential aseociates in Texas and other States of the South urge us onward; our patriotic friends in the North, discarding all sectional prejudice, Aor a us to proceed. We know that we have faithfully devoted our best energies to the prosecution of this great work, fraught with such incalculable blessings and benefits to our whole country. Our enemics bave a full copy of all our proceedings, and we challenge the closest scrutiny of all our acts, know- ing that they have been directed exclusively to the promotion of the best interests of the company. Alrea¢y we have a numerous and constantly in- creasing list of paying subscribers. We have raised the three hundred thousand dollars required by Texas aga deposit before awarding her charter; we have made a contract with able, responsible and expe- rienced contractors, for the construction of the firat fifty miles of the road: we have taken bond, with ample security for the fulfilment of their cortract: we have caused to be made’ an instrumental survey of the whole of the road through Texas to the Pa- cific; we have another competent corps of engineers on the eastern line of the work; we have advanced the first instalment in cash to our contractors, and will commence the grading of-the read with a large force, in the county of Harrison, in the State of ‘Texas, on the Fourth of July next. is no concern got up by us for the prrpose of stock-jobbing or speculation. We have sought no aid from newspaper puffs, nor have we made any ap- peal for Cong nal appropriations of land or mney: but relying upon the superior character of the route, the munificent grants made by Texas of twelve millions eight hundred acres for every mi ¢ of the road, and subscription by the people through- cut the country, we shall continue to devote our hest energies to the prosecution and, as we trust, | final completion of this great enterprise. We have thus, to prevent any possible injury to the company, condescended to refute the charges | Thede by this pamphlcteer; hut having traced, as we Lelieve; the rea} author of this publication, we shall, when the evidence is complete, impale him before the public as a cowardly calumniator, who, whilst playing the part of a masked assassin of reputation, at bility for his crimes. J. WALKER. Jerraa Fows! C. 3. Wooparnt.. T, Burter Krve. Distressixe Occurrence wy Somervinir, NT. —We are pained to announce the death of Mr. Robt. Martin, for years past resident upon a farm adjoin- ing this village, and well known in New York among . business men, attended by circumstances of the most afflicting character. Mr. Martin was, while doing | business in New York two winters ago, attacked by a severe coll, which, while it temporarily prostrat- ed him, resulted in the formation of an abscess in the head. His family were assured by his physician that his life must be brief, and that insanity would probably be the sudden of the disease upon the brain. On Saturday morn: ing last, after Mr. Martin been unwell for about two weeks, Dr. Tunison, (attending physician) ad Vised that a guard should be kept over the deceased, as his insanity was settled, and he might harm him: Shortly after this, the whistle of a sing the door, greatly exci it in his garden, and 1 phe could be reach thrown hime it, and all efforts to alive were tn ng. His body was rec thrice qvarters of an honr, bat Tife was extinct. Semervilic Whig, Jime 16. y 10r ay he had New Trrat.—Parks, the Cuyahoga murderer, has been grouted a new trial, in consequence of some informal u the verdict. MeCtuee. of Mal Linstowity Wiked na | election sure. endeavors in this disguise, to escape the responsi- | clopment of the progress | {| The dd Mr. | livect | e him | vered in | another Irish gift. There was a mistake made in publishing the state- ment of the condition of our banks, last Wednesday. The relloneg Corrected statement shows not on! what was their condition a week ago, but also affords a comparison with the condition of the pre- vious week:— June 5. June12. Increase. Capital ., + 80,888,000 30,412,750 24,750 Loans and discoun’s,.., 48,369,492 48,686,003 216,511 Specie ........ + 2.880277 2,938,521 73.244 Due from other banks.. 8,715,843 9,624,542 908,699 Due to other bank 6,651,825 6,753,406 101,581 Circulation . 8,277,019 8,406,280 120,261 Decrease. Deposites + 18,270,002 13,129,602 140,400 It should have been mentioned in my last, that the country banks, under the new law, are required to make returns once a month, similar to those pub- lished weekly from the city banks. Doubts are en- tertained, however, whether this ought to cause them to furnish returns that would show their con- dition at any time previous to the first Monday in July; and as ks are quite famous for taking to themselves the benefit of any doubts that arise res- pecting the construction of laws made for their gov- ernment, we shall probably not hear from them until next month. The defeats of the democrats in New Hampshire have rather damped some of their number here- abouts, who were confident that the party were sure to succeed. They now console themselves with the reflection that if the House should choose coali- tion U. 8. Senators, the Senate has the power to veto any such arrangement, and will do it. This is a lowering of tone; but there is a deal of vitality in the democracy, and it generally contrives to get out of any position into which the folly of its leaders may bave ledit. Mr. Butterfield was Burked on the question of electing a State printer. The clever member of the Vieielle Garde could have made his Mr. Burke’s fire has told. He is @ hard man to fight. The story that Mr. Collector Peaslee went up to Concord to electioneer for cer- tain gentlemen for Senators is not true. There was a great anti-Nebraska meeting at New Bedford, last evening, at which General Wilson and Mr. Keyes spoke. They took ground against the free soilers heleing: whigs. Thear that the Whig State Central Committee will mect to-day, or on Monday, and issue a call for a meeting on Bunker Hill, on the 13th of July, the anniversary of the Northwestern Ordinance, and _ invite pat men tobe present. The free soilers are not dispose to see the whigs comeup. At the New Bedford meeting, aresolve was passed in favor of arming the negroes who may be fugitives. It said that members of our Supreme Court have expressed the opinion that if a fogitive should slay his master while the latter were hunting him, the deed would not be murder. A pew edition of the works of Fisher Ames, was ublished on the 16th, by Little, Brown & Co. It edited by bisson, Seth Amea, who has contributed a biographical sketch of his father, which is a mea- gre and unsatisfactory affuir and altogether un- worthy of the subject." There ought to be added to | our literature a good philosophical lg of the | federal party, and in no way could it be better writ- ten than in connection with a full biography of some distinguished leader of that party. ‘After ton, the greatest federalists came from Massachustts— | Cabot, John Adams, Timothy Pickering, Caleb | Strong, OC. Gore, and others. Rufus King was a | Massachusetts man by birth, and Daniel Webster | belonged rather to us than even to New Hampshire. | Fisher Ames died too soon, perhaps, to admit of his biography being made a sort of history of federalism, s his party survived him several years; but more | might have been made of the subject than his son | has chosen to make of it. Mr. Ames was the oldest | of the Massachusetts federalists, with one or two | exceptions. He wasa fair type of the leaders of | that dead and gone party, dut the principles of which yet exist, and which are regularly adopted | by all administrations, no matter by what political name they may be known. He had no faith, or next | to none, in the capacity of the people for self-gov- ernment: but want of health probably had as much to do with his sombre views as anything else. Ticknor & Fields have, this day, published Miss | Mitford's “Atherton, and Other Tales,” but I have not had time to look it over. Mr, Abbott Lawrence having offéred to give the sum of five hundred dollars to the people of Groton, | towards founding a town library, provided they would appropriate a similar amount for the same (ae at have accepted his ge etal and a ibrary isto be established. Such institutions are | becoming so common in our towns that the want of one will soon be considered a mark of disgrace to the community thus diflicient in what the subjects of the Pharaohs were wont to call “food for the sou! Speaking of Groton, J am reminded that there is to be a celebration on the 12:h of July of the foun- | dation of the Lawrence Academy, in that town. The | academy was founded in 1793, and invitations have been sent to ail the surviving pupils whoze resi- | denees are known, and itis supposed that of the whole number—abont three thousand—several hun- dreds will be present at the celebration. Mr. Bige- : low, formerly Mayor of Boston, and Seerctary of State, will preside at the dinner; he is a Groton man. Genera! Dane, of Charlestown, will be Chief Mar: shall. Ji¢ isa son of Samuel Dana, who in the last | ition was one of the political leaders of M: etts, representing Groton in the House of R natives, and in the Constitutional Convention 20, Middlesex in the Senate, and his district in | ngress. He was also a Judge of ene of our courts. diess will be delivered, and the ocvasion pro- es to he an interesting one. No indictments have as yet been found | the abolitionists, under Judge Curtis's di | and they are beginning to deepatr of being per: | ted. The judge is fond of indictments, and in 1851, | | he wrote a State address for the whigs, in which he ropored that Governor Boutwell, Speaker Banke, ; President Wilson, and other coalitionists be ii | dieted for their part in® overthrowing the whi, | but the rational men of the whig party procured , its suppression. It is said that the passages of the address containing this singalar Abt eo will seon be published. They will be rich, thongh com- ing somewhat late in the day. ALGOMA. | gen } sach | inst 5 tion, | Our Bermuda Correspondence. Hasiizox, (Bermnda,) June 6, 1854, Seavvity of Tonnage at Tritidad—The Pototo Crop—Freights, Fe §e. brigt. Sylph, Captain Masters, arrived here on Sanday last from Trinidad, reports that the want of tonnage to carry off the produce of the island was likely to produce very great cimbarrasa- meut. The sugar crop amounts to 34.000, for one half of which tony was still required. Freights are sixty cents higher than when there was afair supply of sbippinu. The quantity of potatoes already shipped from these isiands exceeds 10,000 barrels, As near as I can judge the crop will amount to about 15,000, | . Nothing of particular moment occurring here just at ‘The Legislatnre is in session, and tly with the traasaction of the pub: | i | i sels of war here 0t pram ” at Heolitan al notes, and receive into the Savings Bank £25,000, atfour percent. To secure the final Buccess of tae folicy he had recommended, Mr. Howe resigned all is executive appointments, and accepted that of chairman of the railway commission, on the 4th of April last. There are associated with him two law- and three merchants ; the Hon. Jonathan Mc- fully, a member of the Legislative Council, standing high at the bar, and prominent asa public writer and active member of the Legisiature; Wm. Pryor, Jr., of the old, wealthy and highly res; table Arm of Wim. Pryor & Sona, and whose’ ‘excellent pamph- let on Railway Construction and Traffic was pub- lished in 1852; Joha H. Anderson, Esq., a success- ful and wealthy merchant, and owner of the exten- sive plaster a at. Walton; Thomas Tobin, Esq., of the old firm of James & Michael Tobin, a man of wealth and business experience; and Perez M. Cunningham, Esq., one of the largest landhold- ersand most intelligent men in the county of Hants. This commission met for the first time on the 4th of April, and to-day, only a trifle over two months, the first section of ten miles, extending from Halifax to the head of Bedford basin, is located and under con- tract. The commissioners provide rails, sleepers, plank, &c., and let_the grading, masonry and other work by contract.” It is intended to have this sec- tion equipped and in working order by the end of the year, and others located and ed. The com- missioners pay cash for everything, and are deter- mined to furnish the means of contrasting govern- ment with company railways. Commerce, apeitinire and finance are in a pea condition throughout the province ; but there is a lamentable lack of enterp and public spirit everywhere perceptible. Ihave been in all Haste! of the British North American Colonies, and through a large portion of the United States but nowhere, in any city of similar extent have I found 80 little of that active, enterprising energy, 80 ge- nerally manifested at the Nagel day, as if the city of Halifex and its vicinity. Halifax has a popalae tion of 30,000 souls. The city is built on the south- west side of a spacious harbor, which ex- tends ten miles into the equnty. In the rear of the city there is another harbor or arm of the sea, extending three miles inland, and affording deep water and every facility for ex- tensive comme operations, GE @ Darrow neck of fourteen miles of land which connects the province with New Brunswick, Nova Scotia is sur- rounded by water, and in every along the coast fish abound, embracing in variety nearly every aye: cies known in commerce; yet the amount of capital and shipping employed in this branch of profitable commerce is comparatively limited, Mr. Sabine’s re- port to the contrary notwithstanding. A Halifax trader informed me to-day that the merchants of that city who are engaged in the fishing trade own no vessels in the business. If a fisherman has a ves- sel, se pt advance his outfit fora voyage, and re- ceive their pay in fish when he returni—always keeping him in their debt and under their control. All those merchants engaged in the businees cleared from $20,000 to $40,000 each, last season, and twice or thrice that amount might have been realized by a little additional outlay and judicious enterprise. Farming is a profitable occupation throughout the i dattire and all their surplus apriolines produc- ‘ions find a ready sale in the markets of the United States. Boston commands a larger trade with the outports of the province than Halifax does; and the importations of ete into the small sito from the States far exceeds their importations from all other places; while even Halifax, during the last quarter of the year, imported from the American marketsam amount of goods equal in value to her importations from all other places, as will be seen by the custom house returrs:— IMPORTS AT THE PURT OF HALIFAX FOR THE QUARTERS ENDING ‘MARCH 31, 1853-4, SHOWING THE AMOUNT IMPORTED FROG BACH COUNIRY. Countries, 1853. 1854, Inevease. Great Britain £6,997 12 9 £17,089 129 £10,042. 00 BN. A.C’a.* 8,754 14 3 5,278 23 . We i. 62215 0 831 80 208 18 @ 4 44,206 13 1 57,999 16 6 18,739 3S « 29,226 16 11 48,968 90 10,741 121 Total. ,,...£89,862 12 0 £180,117 86 £43,731 8& * Decrease, £3,476 12 0. _ Along the whole coast of Nova Scotia, and even New Brunswick and Prince Edward Isiand, Ame- rican traders are drawing off the trade that was for- merly directed to Halifax. The merchants at those outports are met at their own doors by coasters from: the States, who come down with assorted car; of American manufactures, as well as teas, mol 5 and other eto re goods, which are given in ex- change for colonial goods—herrings, salmon, oata, Ri pled horses, shingles, lumber, &c.-—generally faking away a larger value than they brought down, the difference being seitled by cash payments, The small trader is thus enabled to buy at his own door the articles which he requires, and pay for them im the he has to part with, whervese was fov- mer! j enaet to go to Es folitax area ee = upplies, and make cash payments for a of Semne This new course of trade is severely felt by the Halifax impor'ers, and unless a more active spirit of enterprise is put forth in that city, ex will not,be troubled with a rapid extension of commerce. A port‘on of the merchants of Halifax are averse to any reciprocal arrangements, by which American fishermen will be allowed a full participation in the colonial fisheries. Yet, if the. question were sub- mitted to the entire population, a large majority would be found to be in favor of a full reciprocal ar- rangement. There is reason to apprehend, how- ever, that this province will be the last to submit to the terms of the treaty, whatever it may be. provincial delegates. the Honorables Wm. Young and J. W. Johnston, have not yet left the city te meet the delegates from the other provinces and the States in convention, but are holding themselves im readiness to proceed to Washington or to Canada, on the receipt of despatches from Lord Elgin. ‘The Bosrd of Works at Halifax have advertised or tenders for three vessels to be placed on the fish- ng grounds as cruisers: but owing to the scarcity of vessels and the high freights now offering, they ave not fully compieted contracts for even that imited number. Preparations are in gress for an extensive Provincial Industral Exhibition, to be held at Hali- fax, in October next. government haye appro- priated a funs! for the purpose, which has beem welled by private subscriptions anddonations, The arge end beautiful Legislative building, situated im he centre of the city, is to be used for the purpose, and the accommodations are to be extended hy the erection of @ canvass tent at each end, each e feet by forty, forming altogether a spacious arrange- ment for the display of goods. Articles of all kinds irom the United States and other countries will be admitted on exhibition with all the privileges of the exhibition, though reeerva- tions are necessarily made in favor of provincial pro- auctions in rega'd to {he distribution of prizes. Moxr Axos. RA Son RUNNING AWAY WITH HEn’s W -~On Sunday morning, & man about thirty years of age, accompananied by a wo- man aged twenty-seven, and two children—repre- se themselves as lnsband and wife— application to Mc. Thompson for relief. They stated that they were just from Canada—-having come over by the boat--and were destitute of means, hence the appeal for aid. Mr. T. kept them fag Nines day aud the succeeding night, and then told ne that if they persisted in asking aid, he should be compelled to send them to the county house. Upon this they left. Nothing further was heard trom them till several days after, when an old man ar- rived from Canada in puratit of them, stating that the woman was his own wife, the man his soa hy a former one. Rochester Advertiser, June 18, ) Drrapren. Accrpext.—Two laborers, samed Louis Knerr and John Mussler, and another. whore name we did not learn, were buried in a pit atthe , corner of Walnut and Preston streets yesterday | morning. They were engaged in digging a pit for \ the purpore of ennbling them to empty the contents ! ofa ath privy. They were auffrented while in ce toy oved be privy, and gou'd not be So asuitle Tins 2 net,