- Daily Journal (Ogdensburg, NY), 9 Nov 1857
- 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.
- Item Type
- 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
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