The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-09-12

sir gle track OF road from the Hudson river 10 Lake
kris >s4 miles does MT look veil alongside Of
sstua ~xp-nditurs OF about hftsen millions on 2i0
niles little than half the distance and the
present board OF directors is composed Of many iud
VIC, ais made aud signed the address aud est-
nate from ~hich have maize the extract. We pisos
these things before the public the purpose giving
those interested better idea Of the value OF the et
matt made by the directors than Ia st present enter
tsDd and to caution them against being led into fur
Their Investments upon such data All kinds Of esi
mates formed relative TO the earnings of this
papy uIOu the opening OF the road TO different points
along the line every OF which haze thus far proved
sxtrsssgapt None Of them have been realized and
W. have every to suppose frou the dissppoat
II the past and the character Of those made Ir
the future that the result will b. experienced
throughout IL L. the extreme II folly to anticipate
the traffic OF auy railroad company In this way
IL decti,es stockholders, and Is calculated to draw
capitalists. and men of moderate mrsus, into H.
ve,tmsnts which prove f.iaciods and In negotiating
loans &c which s soothing or less than obtain
ing money under false prrs noss The Aidcsss Of the
Erie Rairosd Company, dated September ID, 1915 Is
sled with estimates ard statements, sufficiently false
and groupdl-ss to place those who coocooted them,
upou oss the torns of the dilemma. neither OF
wh,ch Is very credtable Ifthsy resliy believed them
selves what they there stated they have reputation
for sbrevdness hey what they deserve and II they
did believe what they pslm-d Oh upon the public,
they have credit for honesty greater than they
entitled to The subscriptions to the three nail
lions stock - this company OBJ aimed under false
representa- IONS events have since shown; and IL
would b- much credtsbls for this com pany to
give the pubic full fair aud correct aocouut OF it's
Anap cal operations for the past five years. nd
make more estimates Of cost or income than
to issue addresses every few months, giving the
mot outrageous calculations Of what the revenue
of the road will be when 1t Is completed to this
point and that point The stockholders are more snx
ious know how much money has been spsst. and In
what way has been disposed OF than to have the Cpl
Mons Of any let OF to the probable cost Of the
nb ~ rton Of the road, aud its probable income.
They vast to know all about what has been done aud
then will be time euough to talk about what there
do good why the stockhode ofths
road II oi be kept in the dark about such things The
Hudton liver abroad has SET good pie sod other
companies must follow 1t The Erie Railroad Company
report that the receipts foe the month OF August amount
10 $40 so fac place ndsncs the state
nent this is all very we but why Is 1t that have
report II monthly expenditures7 ills just easy
to furnish the other but kept entirely TX
norsbt If the ou'goes, while the Income parsied
ssusry before the public At the end Of the year We
Invariably find the inc put down in n lump in ons
lire the expenditures posed Of ia the report,
In the same summary vsy