New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-04-04
RAILWAY INTERESTS.
ERIE RAILWAY INSTRUMENTATION NDENCE
BETWEEN JOHN LIVINGSTON AND W. W. SHIP

ERIE RAILWAY rs-CORREsPoNDEScE
BETWEEN JOHN LIVINGSTON AND W. W. SHIP
PEN.
In an official correspondence between John
Lvin gston, attorney residing in FOurIeenth-st W.
W. Shipper heretofore regarded as a director OF the
Erie Railway and Lucius Robinson YiccPresident OF
the same, the Erie question up again In a hew
form Mr.. Livingston processes to represent certain
Erie bond and Shareholders and in letter addressed TO
Mr.. Shipper reviews some of the alleged monetary
transactions OF the Erie Company, and asks MI snip
pen If he avows himself director in the corporation
Mr. Shipper replies that he is not director whcTeupon
the attorney serves yce-Presdent Robinson with no.
| tice to discontinue the Of Shippers name APP
pended is a copy Of the correspondence:
NEW YoRK April O. 1874
w. W. sHIPPES-De0r Sir: As one Of the directors OF
the Erie Railway Company, some OF the bond and snare
holders OF which represented By me as their attor
ney, respectfully call your attention o an adyer-
The London Punch OF March utmo and also III other
London papers for loan OF $4,000 upon the special
with guarantee for payment OF the interest by the
| Erie Railway Company.
pended TO and forming part OF said advertisements
which appears to have been furnished by President
tho revenue OF the Erie Railway with the estimated
for 1874, together with tue assertion that the
Erie Railway Company absolutely guarantee the interest
sand bonds during the entire currency Of the same by
| Endorsement eacn bond" and that the bonds are
| payable Feb. 1, 1904
me report OF May 10. 1879 by the NewYork LeGisla
tive Investigating Committee strongly condemned the
proposition To link the fortunes OF the Erie with the road
above named, corporation representing sIoJODOOJl
OF stock and bonded debt whose afiirs are currently
YOU therefore, TO inform me whether you voted for or
otherwise authorized the mourning Of the obligation and
responsibility by the Erie Railway upon the bonds In
question: The annual interest upon tho bonds being
aboH sG6OOO the obligation incurred therefor during
the 30 years for which the bonds have will ag
gregae than s5,OO0O0O IL will become question
whether such guarantee would be iustifaDe These and
IL
atve Investigation and certainly TO legal proceedings
in the course of which the acoa OF trustees and officers
will be thoroughly examined, with the Of liking
responsibilities, legal and moral where they belong for
the voting OF the dividends OF Feb IL ana Sept p 1873
proper to suggest to such OF the directors men OF
character ana properly and DO not wish TO occupy the
not anomalous, though somewhat dangerous, position
OF mere figure head, That they snould take legal adj
all matters relating to the corporation QUESTIONABLE
vice that should from counsel OF hlgh standing
| ike Egarts OConor, or some other entirely dscon-
nected from the bewdegmeuts OF railway interests.
The Legislative Committee above referred TO reported
that four directors voted against the dividend OF FED
| IL ineXpedeut while the Company borrowing
money to pay interest its debt and increase s fac
ties and that the other tors-l3 In ayoted for nc
solely upon the statements OF President watson and
Auditor Dunan aud with personal knowledge OF their
in relation TO the profits or the Company As the
Auditor declares that the road ned Jlv
dend, ana President Watson can have no knowledge
upon the subject except from his mens the Legs
lature Will probably desire know upon basis
| upon what data the dividend OF Sept was voted.
do not mpugn your integrity, bit 10 being evident
that the In which the affairs OF the Erie" have
been conducted and tho complications and difficulties
which have arisen require thorough investigation, L
think more caution should exercised by those Who
do not TO incur great risks OF personal ana
MARY responsibility. ADMINISTRATORS may change, but
the corporation survives forever and It may
the hands OF those who Will exercise the most rigid
scrutiny for it's welfare. Respectfully,
JoHS LIVINGSTON, No. l5i West Fourteenthst.
BoBoKEN LAND AND IMPROVEMENT Co,
PRESIDENTS OFFICE, HoBoKEN NJ j. April 1874
join LIvISGsIos esq-Dsar SIR: In answer to yours
rope July last found had been reelected director
Of Ere contrary to my strongly expressed wish, and
that sent TO the Board positive resignation. have
been informed what action was taken thereon but
have not since considered myself a member may
state that my object in resignng was only that had
neither leisure inclination TO devote enough to
the Company. Yours, W. W. sHIPPEs.
FRIDAY. April s. 1874.
To the Hon. LUcIUs ROBINSON Acting PresIdeat Erie
SIR You Will please to take notice that you are here
with served with a letter from the Hon. william W.
that OF his you. by the Erie Railway
Company. for any purpose whatever, Is wholly I'M
% - Usi % as t be-
TO prevent the annoyance. In The London Daily Tele
dates you have, without authority advertised and held
forth " the world his Of the directors OF
the Company and you are notified to withdraw 1t forth
l54 West Fourteenthst., New-York.
THE HARLEM COMPANY AND RAPID TRANSIT.
It having been reported yesterday that Commodore
Vanderbilt had, intended owthdraw the Harlem Rail.
ilature, Mr.. William Ii. Vanderbilt said that there was
no truth in the rumor the promoters OF tho enter
prised propose to fulfill every obligation they assumed
THE RAILROAD IMMIGRANT WAR.
The railroad immigrant begins to assume an inter
esting phase The NewYOrk Central Railroad has re-
duced Its rates from here TO Chicago to and west Of
that the agents commissions have been taken of by the
Central which reduces the rates by abouts3 u more
Not to be outdone the Erie and Pennsy Railroads
have reduced their fare to Chicago to S. This is re-
garded as only the beginning Of the contest. as
Commodore and VIM. II. Vanderbilt have declared heir
intention to reduce the fare TO IL head in order
feat the combination which Erie has made with tho
steamship companies The Central people claim that
the Pennsylvania Railroad also owes them 260O emit
grant tickets They further say that they are willing to
pay their proportion Of the expenses OF handling ba
gage but that they do not propose pay the expense
OF handling tho third OF 500 emirants' baggage, when
Erie gets 40 enigrants and the Central onlyl The
total reduction since March ~ to ali important points
the three different tariffs from New-York which have
been established by the NewYork Central and adopted
BY rival roads within the past few days:
March 1. March -. Aprl 3.
To CBcnnau... 90 10 90
To Chicago. W % 10
To hilUsutee. ................lo Oh X 10 10
To kAnsas CItJ.s.............3l % 10 90 10 10
ssasssa ....ks