The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-04-06
TIE ERIE INVESTIGATION.

An Unimportant Session Held Yesterday.
The Erie Railroad Investigating Committee re-
sumed its sessions in this city yesterday morning.
The evidence elected during the day was Of an I'M
important nature, 1t mainly consisting of the uni
fcation of accounts which had been previously
submitted The Sergeant-at-Arms, Mr.. Loring, is
on the lookout for Mr.. Tweed, but up to the pres
ent has failed to produce him.
THE TESTIMONY.
President Watson was placed upon the stand a.
the first witness, and repeated some Of his former
testimony relative to the expenses and liabilities
OF the road Mr.. Watson said the value OF the road
and equipments is more than equal to the sums
which have been expended upon 1t; If the Erie road
was b0tted out 1t would require as large sum
to made as good a one; SEINE sums might have
been expended in construction that were not legiti
s the se Of Of the e estas
held by the company has increased in
fold the par value Of the stock
road are part oil the expenses and they must be
deducted before you have net earnings; the &C
counts OF the Erie Railroad have been kept in
very unsysematic manner, and no accurate in
ventory Of the property Of the road has been taken
from time to time as 1t should be; we were told
when we came into possession Of the road that II
we did not lave recourse to the same measures
adopted by our predecessors we would have to
contend against hostile legislation II the law
would make 1t obligatory upon passengers to pur-
chase tickets at offices they could be carried
should not like to name the persons who told me
that IL would be necessary to have recourse 10
Legislation; would not ike to say whether any
Assemblyman made the suggestion, but can say
no one here did Qaughter) variety OF persons
gave me intimations OF this nature, but 1
refused point blank. and said would rather see
the people in the penitentiary than bride them; IL
was never said to me in words that should give
money but it was intimated to me in way that
could understand as plainly as words; have been
written to by members Of the Legislature, who
have commended the course have taken; 1t was
said to me II would not apply the means used in
former days / might look out for breakers;
/ have been threatened because l did
not send annual passes to members OF
the Legislature; / have received q letter
| decline to give the names Of the persons who ap-
preached me, because there was nothing Objec-
tiOnable in what they said; II these letters or
words were indctable would be glad to give their
names to the committee or the District Attorney.
To Mr.. Carpenter-l have been to Albany this
preached me-
Mr.. Dunan, the auditor Of the Erie Railway.
identified the exhibits OF the Erie Railway &C
counts by their numbers; the abstract given OF the
accounts was correct one; there was surplus OF
$4,000 on the profit and loss account Of the year
books and, to the best Of witness knowledge, were
accurate and correct; the general business OF tho
road, both passenger and freight, was greater for
the year 1872 than for the previous year. the
liabilities and assets OF the road, the state
ments made on the declaration OF the dividend,
were correct, and proper exhibit OF the earnings
OF the Erie Railway for 1S52; consideration was
taken for all Just expenditures OF the company
before the statement was drawn up.
Mr.. Lewis, auditor Of The Pennsylvania Railroad,
testified that he had examined the accounts OF the
Erie Railway and found them to be properly made
After the hearing of some further testimony the
Committee adjourned.