PSOH THE I7mm0- POST.' 
 
 COMMUNICATIONS 
 
 JAMES BOORMAN 
 
 TO THE 
 
 STOCKHOLDERS 
 
 HUDSON EIYER EAILEOAD COMPAM, 
 
 IN REPLY TO 
 
 Mr. A. C. FLAGG, 
 
 LATE PRESIDENT OF THAT COMPANY. 
 
 mil) Yorft: 
 
 Wm. C. Bryant & Co., Printers, 18 Nassau Street. 
 
TO THE STOCKHOLDERS OF THE HDESO:\^ RIVER RAILROAD CO. 
 
 I submit the folio-wing communications to j'ou in this form, as they may hereafter 
 be useful to refer to. 
 
 I find I have omitted one remark. The pre-emption right of myself, and all the 
 other Directors to future issues of Bonds of the first S3,000,000, has terminated by 
 our own act, under the advertisement of 3J July last—it remains however to them, 
 and all others, in respect to the additional Si,000,000 provided for in the morlvaire, 
 as it cannot be interfered with till authority is given by law to issue them. 
 
 I beg leave to add another remark. IMr. Flagg, whether from worthy motives or 
 not on his part, you must judge; has, i believe, rendered you an essential service in 
 Jffie example he has set of making no ses!^ of the proceedings of a joint stock com¬ 
 pany hoard. That course from proper motives accords with the views 1 expressed to 
 you in a communication under the signature of “ Several' SlocMwIders," on the 1st 
 March, 1S4S. I then said, and now remain of the same opinion, that “ The leading 
 operations of the Company can require no veil of mystery—no secrecy—except the 
 ordinary business caution in respect to prospective movements. Anything which is 
 done and concluded, may be, and ought to be, freely communicated to all Stockholders, 
 ■who are the real parties interested in anything adverse or advantageous which occurs. 
 This, it is admitted, is a novel doctrine to promulgate as to the proceedings of boards 
 of directors having charge of such operations,—but it is respectfully submitted, wheth¬ 
 er it is not a sound doctrine applicable to all joint stock concerns, and whether it 
 mijht not he adopted with particular advantage in the management of this great pub¬ 
 lic icor/r, —which, the more it is discussed and examined, the more it will gain strength, 
 and secure the confidence of the community as to its eminent benefits.” 
 
 I trust this is the hast occasion on which it will be necessary for n;e to appear before 
 you un-olScially. 
 
 JAMES BOORMAN. 
 
 New York, Aug 13th, 1849. 
 
A Card.—To the Stockholders of the Hudson River Railroad Company, 
 
 The rema'^k-'made upon the/ron C'onf7'ncf, by A. Boorman wns not a member; and it was not until 
 C. b'liigg B^q. in bis letterof July 5th, addressed to several weeks afterwards, when we submitted a draft 
 you tli'ouph the columns of tb'^ Evening Post, do of the contract to be executed in accordance wi h our 
 great inju. tice to the original Board of Dir ctors, who proposal, and the acceptance of the same by the 
 made the contract, and particularly to Mr Boorman. Board of Directors^ that Mr. Boorman undertook to 
 The re.«peet we entertain tor Mr Hagg forbids any arrange the details of the contract This he did, as 
 other idea thiui that these rcmaiks were made with- we weie informed, at the request of the committee, 
 out hiiviig iiit’.rmed himself of the real facts of the because of his great fiimilia.ity with such contracts, 
 ease. V/bile wo regret to be drawn even iiidirpctly The general terms of the bargain be could not have 
 
 during all the negotiations, iour fellow stockholders, 
 
 inly accepted m his absence. COOPER ic HEWITT, 
 
 liations were made with the Agents of the Trenton iron Co. 
 
 and purchases, of which i\ir. New York, July 16, 1849. * 
 
10 
 
 Letter from JAMES BOORMAM, Esq., President of t!ie Hudson River 
 Railroad Company. 
 
 To lilt Stockholdtrs of the Budson River Railroad est on thatamonnt, was carried into effect on the 91h, 
 Company: and Mr Edwin D. Morgan was immediately appoint- 
 
 The part taken by me in the appointment of the ed to fill the vacancy in the Board. 
 
 Hon. A C. Flagg to omce in yonr company, arose These proceedings, (harsh as they may appear to 
 &om a desire to benedt your interests, on the snp- those who do not understand the difficulties of the 
 position that a gentleman who had so long occnpied position,) were conducted with every possible regard 
 a high office in this state, connected with its public for Mr. Flagg’s feelings and interest, consistent with 
 
12 
 
 Card.—To the Stockholders of the Hudson River Railroad Compaiiy. 
 
 I find myself arraigned before you and the public, in cffioiently, shall do so, observing ali practical delicacy 
 the Evening Post of yesterday, in a letter to you, to the feelings of those who may ho nlfocted by 
 from the Hon. Azariaii C. Flagg, in relation to liis changes, ns I have done in the case of Mr. Flagg, 
 not having been re-elected a member of your Board though it unfortunately appears aecHiunnious senti- 
 of Directors, and to its having been intimated to him, ments on his part have been excited, most especially 
 previous to the late election, that a ranjority of his towards myself. 
 
 associate directors thought it was not compatible . If ybii will review the names of the gentlemen who 
 with the interests of the company to continue him in now constitute the Board of Directers. I think you 
 the office of President will'\)e satisfied as to the safety and nvogress of your 
 
 This communication is to me quit’ rovcl in its work, although il/r. F/«gg and hU friend Mr. .4/%, 
 character, and the same gentlemen that united in for whom he volunteers to speak, are no longer mom-