, 1873-10-30
"lAKE-SHORE."
Cleveland Railway Managers and
Now York City Einnncier4 ~ -- a
Bit OF 1AiDtory with q Moral.

Cleveland Railway H1annKcrs and
New York City " Einnnctera - -- A
Fit OF z1iDtory with n Moral.
From the CltrtIaad Herald, Oct. %,
Most Of our readers arc moro or 1eRB familiar
with the history Of what is now known as the
Lako Shore Railway particularly that portion
hotwocn Toledo and Eric. aud which originally
formed two roads. Among tho railways in tho
1nnd theso two earned tho foremost place. Tho
Cleveland l. Eric Road became gold-mfne from
tB start, and pumbors Of OUT citizens roll In tho
wealth TINT road brought to their pockets. Tho
Cleveland Il Toledo 1ad it's vicssitudeB, but thoy
woro temporary, for soon that road became
second only to the Cleveland i Eric In tho
rich returnH 1t made to ita stockholders
In those days the ofliooa Of thoir Prcsidonts and
Troasurers, and Secretaries mere In Cleveland.
and wore fillod by Cleveland mon. Not dollar
Of tho money belonging to either Company waB
known to be mieapplicd or misappropriated by
any one Of Its officers.
but those roads wero gobbled by New York
City " 1nanoors." A consolidation WAS made
tllat there might be but ono executive head, and
tint should be on New York anancier'a anonl-
ders, and but one purBe string, and thnt Should
bo In Now York 6nancior's hand. Tho financial
management Ct tho Lake Shore Railway Company,
went to Now York, aud the first thing TINT turned
upworth 1nentioning VAS tho failure Of tho "anan-
cier who hold that ono purse-string and an
amount Of Lake Shore Railway funds, figured
high up to million Or moro, Waa put in a state
Of f"suspense," whether that suspense has ovor
ended, wo do not know. In Justice to the author
Of that calarnity, it should be stated that his
character for honesty could not bo doubted. He
was entirely reputable gentleman, but ho was
Now York fnnncior that meanB Quo who
takeH the chances in stock. and gold gambling
more softly called :"operating." While the
TrcAsurer's Offices Of tho two companies above
alluded to wore in Cleveland there we're no de-
falcations no suspension.
The Lake Shore Railway Company. not yet re-
covered from the blow theu received, has Just
now had D still moro serious experience at the
haula Of its ato President, Vice -president, and
Treasurer, as the Executive Committee OF the
Company ALI thoHe gentlemen are New York
"finauciera." Neithor Of them Ia practical
rtilroad man. 10 what e1tont the Lake Shore
Railway Company ia involved by tho misappro-
priation Of the property of The Company, few
known to render it certain that two million and
half Of bonds Of said Company woro
fraudulontly hypotheoated in carrying along
private Bpoculations in the stock Of
tho Company, while; rumor, which,. in
tho il-advisod reticenco Of those
who have knowledge OF the actual facts III the
case, has full lay, puts tho loAscs Of the Comps
ny through its three highest officers at 81 900, :
QUO. Whom tho Presidents, Vice-Presidents,
| Trehsurera, and Executive Committeos had theig
g.! headquarters in Cleveland, and majority Of tho
officers named wero Cleveland uann, there waH
| no rascality eyon whispered againat thom.
And now lot every Intelligent. honest man
| ponder this little bit Of history, and draw far
hinsof tho moral that is taught by Clcyelnnd
railway management and Now York City iinRn.
| ciering. The great railway enterprise that, un-
der Cleveland management and honesty, calnete
! DO the richest line OF railway in the United
states, hns, within tho week last past, uudo.
Now York City anauoieriug, been Threatened
with bankruptcy.