The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1860-06-22
LOCAL MATTHRa.

/ 1As Late DeJdseasios.-Wo have not hefcra
noticed the alleged defalcation Of EDWIN Ro-
bI1eON. Hreet0ent of the Richmond Fred.
ericksburg aud Potomac Railroad Company.
because We could not got such fuforma ttOn re-.
iative to It NJ We deemed reliable. 1Designing
% eve the facts whenever they could BE- arr
70 time. Of those who were xnost IiEely 10
know, and now give the following statements
Mr.. Robinson became . large stock holder in
the village OF Ashland. and with the view OF
DoildlnG 1t mp and making II profitable to
himself and the railroad company over
which ne presided, made extensive improve.
rnents involving the expenditure of large
sums OF money. As far back as 1857, he com.
company, which became known to the Trea-
snrer, but from his long intimacy with and
warm friendship for the President, the know.
ledge ON his part that Mr.. Robinson had am
have used. and his promises from time to time
70 90 30, he refrained from divulging it to the
Directors. Sanguine Of the success of his
schemes, Mr. Robinson has cortinued to use
mon. ys OF the company, when they came into
his hands, for his private purposes, until the
amounthas run mp to about $50, goo; and has
also given notes, duo bills and other accept.
ances. az President Of the Company, to the
amount Of S12i ,OOo, the greater proportion Of
which he has expended in improving the
Ashland property and the race track near
that place. In negotiating SO much paper,
Mr. Robinson has necessarily been heavily
shaved" }" ~ noet men are who are pressed for
means.
On Monday last Mr.. Robinson called the
board OF Directors of his Company together
laid before them his defalcations, furnishing =
list OF the liabilities of the company incurred
BY him, and rendered his resignation. He then
decided to the Company his Ashland property,
1nciudir g the race track, q tract Of land in
Hanover, his new and handsome residence in
Richmond, thus securing them against loss as
far as he could-and here we may remark that
good judges estimate the value Of his effects
at not less than 100000, SO that the Com panv
will not probably lose more than e75.OO0. -
The Directors. after receiving the resigna-
tlon OF their President assumed his liabilities
as per the list furnished by him. and accepted
his property, deeds to which were promptly
made them and recorded. One Of the Direc.
tors-there being five present-then offered a
resolution to prosecute Edwin Robinson for
felony. When toe vote was taken, two were
for. and two against it. the chairman finally
had assumed the Liabilities incurred by the
President, and received in lieu therefor deeds
for his entire effects. e-+ss sar
We have thus stated briefly all the facts
connected with this sad and unfortunate affair
that have come within our knowledge The
Board of Directors, it is possible will make a
report to the stockholders, and will no doubt
be able to show that the loss sustained is not
sufficiently great to interrupt in the slightest
ing its financial operations, or depreciating its
stock.
President Daniel has been directed by the
Board to make a thorough Investigation into
the affairs Of the company, and 10 procure all
necessary aid in doing so. Should this exam
ination divulge anything new, we will make
it known in due time. ~ q