Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1867-04-10

gu per car from Dayton"
If this testimony is to be believed, il
Is difficult to discover the inaccurracy
OF the report. If claim has not been
made of the G. W. d. Co. for any ex.
cess over eight tons it has carried, the
rights of the road under the contract
have been neglected.
z. Mr.. IHommedieu complains that
we did not accept his opinion that the
Great Eastern Despatch increased the
business of the C. H. & D. I'D & NJ.
Roads. We did not do so, because in
our Judgment it had not the slightest
support from any of the facts brought
to the knowledge of the committee
We were convinced, and we think the
evidence showes that the G.. E. D. OBJ
tanned its business by intercepting the
trathc, naturally passing over the c. 81.
d ID. q D. & NJ. Roads, upon connect
ing lines of transportation before reach
ing them. 1t is a very significant COM
mentary upon the degree of credit that
should be ascri6ed to this opinion, that
Notwithstanding the alleged large and
economical increase of business secured
TO the roads through the agency of the
Despatch, the Board of Directors, with
the approval of Mr.. LII. after investi.
CATION last fall, promptly abolished the
line and wholly terminated its business
on the roads, on the FIRST of January OF
this year. If so largely profitable, as
represented by Mr.. l. LHommedieu, the
speedy termination of the contract, by
order Of the directory, on their atten-
ton being drawn to the subject by the
exposition of the committee is a most
unfortunate commentary on the man
agement of the affaiTs of the Company.
3. We neither stated directly, nor by
fair inference in the report, that the
Despatch carried any of the local
freights between Toledo and Cincinna-
ii. 1t is nevertheless true, as the evi-
dence fully shows, that the Despatch
secured to its credit fully one-half of
all the freight passing over the line
from Toledo to Cincinnati, and from
Cincinnati to Toledo.
Mr.. Wilson, the book-keeper, en-
ployed by the special committee Of the
stockholders of the G. II. & D. road,
shows in his evidence Report, page
l29), that of 4,075 car loads shipped
from Toledo to Cincinnati, between
July LIST, and Dec. 3Ist, 1865, period
of six months, the Despatch controlled
2,55S cars, being over five-eighths of
the whole number. This sceords
with Mr.. Reeds statement, REPORT,
l33. 1t is true that after having
given his evidence, Mr.. Reed stated to
Mr.. Baieman. of the committee, that
no portion of this freight, 50 far as he
knew, was obtained in the city of Tole-
do, that being considered local freight.
This is, perhaps, true. The issue raised
by Mr.. LII. in reference to it, was
wholly unnecessary, inasmuch as it was
not asserted by the report of the COM
mittee.
4. The statements of the committee
taken from the testimony of Mr..
Moore's (Report, 1871, one of the COM
mittee of the stockholders of the c. II.
& D. Road, is not disputed by Mr..
LII. Notwithstanding the accession
Of the business of the A. & G. W. Road,
4 direct through route to New York
md the Chicago and Great Eastern, a
lirect through route to Chicago, for the
7ears ending March 81, 1865 and 1866,
here was an actual average loss in the
net earnings of those two years over the
rear 1866, REPORT, 13l.)
5. As to the creation of $500, 900 of
lew stock by the G. II. & d. Road, Mr..
III. presents another unnecessary
ssue. We did not give nor attempt to
,,yo 4ba raoeo,s ,f 3ha ies,,a 0f fhak
tock.. Our statement was that g. II.
D. Road, having for some years pre-
'iously, paid cash dividends sat the end
f the first business year, after the
Despatch went iDto operation, paid the
Isual dividends to the stockholders
nth portion of the stock so issued"
he failure of cash dividends, and the
earnings of the roads, were |
egitimately referred to as indications
t the effect in part of Despatch upon
heir income.
6. The memorial of Mr. L'Homme-
leu contains the following extraordi.
airy statement: "TKe Despatch Compa-
y, and those connected with it, as
nown in the testimony given before
be committee. invested as follows:
Each party s2, ,5OO................s15,O 900
Wharf-5oat.......................... 80, 600
Mr.. LII, in his testimony (Report
i5-6), also says: an further conSidsra-
1n, for the car load rate, a wharf-boat.
osting about $4,000, is provided and
without expense to the
lilroad company" DC.
The wharf boat had no more connec-
on with the Despatch than steam
bat on the river that received freight
ON it for transportation, or a Com
ission House that may have received
for storage. In the contract between
le c. II. & D. Road and the Despatch
there is no reference to a
harf- boat, and no obligation assumed
: the Despatch to provide one. The
lily fact that could impart the slight
t color to this statement of Mr. =.
H, is, that two of the firm, original l
'oprietors of the Hharf-boat, owned
le third interest in the Despatch for /;
time. Mccoy, Report 143; VIII
ms, Report l42.
We have already stated that the
sspatch Company was originally COM
sed of six partners, having equal !:
ares, viz Messrs. Williams, Slocum, =
led, L'Hommedieu, Jr., Henderson,
:, and McLaren. The Wharf-boat
mpany was originally composed of I
rs. d. c. Henderson, Williams, Reed :
Id Mccoy, partners in equal shares
illiams and Reed were partners in
q Despatch, the latter, however,
firing from it after lapse of eighteen
,nths, leaving Williams alone, of the
larf-boat firm, connected with it. The
" business in which the wharf boat =
d Despatch were connected was in y
aging, each owning one-half of the :
rses and drays, and receiving one 7
If Of the profits of drayage. The =
,spatch Company furnished none of y
e conyeniences, and received none of 2
e profits of the whsrf-bost. Mccoy, <
"a; Williams, 139, l42 Was the ?
.tement of Mr.. EH., made in the a
,timony and repealed in the memoir u
the result of ignorance or inadvert
ce? for there is no conceivable sense
which it is true.
Mr.. RHommedieu is as much at fault o
out the remaining item of invest
mt. The amount paid in by the 2
rtners was, indeed, $4,000, but of II
Is sum $9, 900 was never invested, but 1
pit "to pay charges and losses, if y
y" The actual investment by the D.
spatch was $1,000. (Williams, 80. y'
Mr.. L'Hommedieu says that the el