Maritime History of the Great Lakes
Lake Ontario and St. Lawrence Steamboat Co.
Publication
Daily Journal (Ogdensburg, NY), 9 Nov 1857
Description
Full Text

LAKE ONTARIO AND ST. LAWRENCE STEAMBOAT CO.--The following item in regard to the affairs of the above company we clip from the Utica Telegraph:--

The stockholders held a meeting at Bagg's Hotel on Thursday, to take action to relieve the company from its present embarrassed condition. It was stated before the meeting that the debts of the Company are seventy-five thousand dollars and there was nothing to pay them with except the boats and other property. In order to save the effects from a sale by the Sheriff, it was suggested that a new company be organized with a capital of one hundred and twenty-five thousand dollars, and that the stockholders thereof be assessed pro ratio [to] pay to the indebtedness of seventy-five thousand dollars. This plan was considered the most feasible, and a period of thirty days allowed to arrange matters for its consumption. The original capital was $500,000, but through mismanagement, hard times, &c., it has dwindled to nothing almost.


Media Type
Newspaper
Text
Item Type
Clippings
Date of Publication
9 Nov 1857
Corporate Name(s)
Lake Ontario and St. Lawrence Steamboat Company
Geographic Coverage
  • New York, United States
    Latitude: 43.1032991497184 Longitude: -75.2214537307358
Copyright Statement
Copyright status unknown. Responsibility for determining the copyright status and any use rests exclusively with the user.
Contact
Maritime History of the Great Lakes
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Lake Ontario and St. Lawrence Steamboat Co.