The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-09-06
R0DMAN STILL IN QUOD.

City Treasurer sprague Resigns-What
Rodman and Mills Did I'm Connectic ut.
The defaulting Ex-Deputy City Treasurer M. t.
Rodman remains in jail, his promised bail falling
to come forward
City Treasurer Cortland A. Sprague yesterday
afternoon sent IN Communication to Mayor Powell
rendering his resignation as Treasurer an once
which has been so unfortunately conducted. The
Mayor at once directed City Clerk william Bisnop to
call a meeting OF the Board OF Aldermen on Tues
day evening next, for the purpose OF receiving the
resignation OF sprague and appointing his sue
cessor.
THE BoNDsMEN MEET.
There was private meeting of the bondsmen OF
Rodman and Sprague held yesterday IN the ONCE
OF Comptroller Schroeder for the purpose Of making
good the deficiency. The press was excluded from
the conference, put the result was ascertained.
All the bondsmen were present except Mr.. Patton,
who will doubtless be sued for not coming forward
upon this urgent occasion. They gave their notes
pro rata to cover the deficiency, $14s,coo.
How Rodman and Mills were interested in the
building OF the New Haven, Middletown and Will
limantic Railroad, running between New Haven
and Willimantic, ana how the Brooklyn Trust
Company was mixed up In the speculation, Will be
found In the subjoined facts:-This road, which
forms q connecting link Of the through line be-
tween New York and Boston, was organized in
1858. 1t was built rapidly until the portion be-
tween New Haven and Middetown was in running
order. About that time-January, 1s7o-President
Lyman died. The parties who then undertook to
manage the road were inefficient and lacking en-
ergy, and the enterprise barely drifted along. In
the fall or that year they found themselves out or
money, and applied to
JONATHAN A. WHITE,
and who had represented himself as a man OF
large wealth. TO this man they applied Tor aid.
He agreed to assist them, and they paid him as
ally Increased it to $3500O. These loans at the
death OF EthelDert Mills were found In the Brook
Supposed that the money was furnished BY White
rom his individual means Shortly after this
Rodman Nm, made q contract to complete the
Of the Executive Committee, and White
went In also as Director and one Of
this way. Work went on under the contract, iron
was bought and the rails were laid and the road
Of the Of the trust
pany took place. Since. then: no money has been
put in. The road is now completed and IS in thor
ment OF the road has been furnished by the cti-
zens, mostly of Middletown, and the business Of
capacity for doing 1t. The death Of Mills did not
have finished the whole thing: On the day That
New York Tor the purpose Of carrying out plan
Tor equtppine the road which had been originated
or an equipment company under the laws OF Con-
necticut.
MILLS AND RoDMAN
were to furnish $250,0O0 Of the capital, and the
officers OF the road and citizens were to furnish
like amount, making a. t01al capital OF $500 900.
The death OF Mills OF course sdeeated this scheme,
and the company was thrown back on Its own re-
sources In furnishing the equipment. This Jona-
than White, 1t is said, then began to be looked
upon as q first class scamp by the officers OF the
road. They began to suspect that the money was
being furnished by the Brooklyn Trust Company,
which was reality backing the whole scheme.
The exposure now OF the Trust Company shows
that White had used this company to complete the
road, hoping to make q large quantity OF stocks
and bonds out OF the road, which they were to re-
ceive under the ROdman contract. The road now
Is being.
RUN VERY ECONOMICALLY,
Is wen managed and all the earnings are being
appropriated TO Day the interest the first mort
gage bonds. 1t is estimated that In twelve months
they will be able earn the total amount OF inter-
est on these bonds. This will create demand for
the bonds, and they will sell at from ninety cents
to par. which will enable the Trust Company to
more than realize the face OF its loan. A New
Haven paper, short time since, In speaking Of
the railroads Of that State said that Connecticut
was building railroad as the expense OF Brook
Ign. White represented Rodman In pushing the
work through and at one time had considerable
difficulty with the contractors, which. 1t Is said,
ended in blows since which time warrants for his
arrest have been out and he has kept clear Of Con-