The Maritime History of the Great Lakes
Daily News (Kingston, ON), Dec. 15, 1857


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Full Text

p.2 The Peninsula - damage to waterfront at Toronto. [Colonist]

American Steamboat Co. - An Injunction To Block The Game - Yesterday the Directors of the Ontario & St. Lawrence Steamboat Co. met at Utica to take further action in relation to the organization of a new Company to take the property of the old one, whereby the "big fishes would would eat the little ones." The thing had been pretty well "cut and dried" that the nine steamboats, costing half a million, should be sold for $125,000, and the purchasers would be some of the present heavy stockholders, who would thus partially hedge themselves against loss at the sacrifice of the small stockholders. The game was suddenly blocked by the appearance in the meeting of an officer with an injunction granted by a Justice of the Supreme Court, restricting the directors from further proceedings in the direction they had taken, and ordering a receiver to sell the property of the Company for the benefit of all the stockholders. We understand that the injunction was obtained by Capt. Throop. The result will doubtless be a sale by auction of the elegant steamers composing the line, and the purchasers will have to pay what they are worth to form a new line along the South Shore of Lake Ontario, and through the St. Lawrence. Mr. Penfield, of Oswego, has been appointed Receiver. [Rochester Union]


Media Type:
Text
Newspaper
Item Type:
Clippings
Date of Original:
Dec. 15, 1857
Local identifier:
KN.22976
Language of Item:
English
Donor:
Rick Neilson
Copyright Statement:
Public domain: Copyright has expired according to the applicable Canadian or American laws. No restrictions on use.
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Daily News (Kingston, ON), Dec. 15, 1857