New-York tribune., 1874-10-24

s seSs sna as'
siseocooo and the funded debt had also been swollen
by at least a5OoOoo with comparatively little to show
S the trance sSSs shS viii Be-
earn reasonab bic dividend stock watered as tnst
OF Erie has been And the new management mas nos
been good nor does the traffic show q development In
any degree propoioned the great increase OF the
u''' -" From 1as London DaGy News tCgy Aritc, Oct 10
The long-expected report of the English
2r Bal aeS Ce ana s sVeSss %Se on
that the appendices. which are volunnous, VIII pe
published along with Capt Tylers report wnicn Is da ny
presentation Of the reports themselves he %
more than justifes the expedency OF an inquiry Oh inc
ago. the correctness OF the accounts under Pre
some OF our correspondence IL appeared evident
that hero prtma Jaee case for inquiry ana tno
worst charges which we're made as to dividends having
been paid out OF revenue the fasty OF tne Daance o
vOus administration. and the fact that on q proper
account being made up there Is large oencit NJ sne
debit Of profit and loss After sa9 of the
new board OF directors the lth OF March, lss tne
shortly tsa tn ney and them
proceed TO describe the ipaccuraces Ihe nss y t's
The balance OF The profit and loss account on ered suf
should Sav: oS.Ss rSSs = ,s 81 eFs,t ass
elusive of any loss that may arise on
the realization Of the book debts and securities which
were then and may be still outstanding The error II
appears chiefly caused by the ncttlous cnaiacler
OF the balance taken on soth september is when
surpus Of and the profit oi the year ending So1n
September m was also .ne sna oss e
count for nine months ending the Soth june nis
not only includes the above cttou; balance Oh 70
and which are included in the succeeding statu
tory accouns the effect OF sHch omission Oar,a% 70
the extent OF s54o95. The thrd inaccuraey Is IN tae
statutory account for the whole year enalnS Ssa
balance OF and then shows the profit Tor the
.Ss ye ess
N494e. Summing up these oon &
suae ns while the pGe as oS
1873 Uncuding the balance OF teS35O8 at the former
Ss;s Gsasce amounts to E & aa wSich
the whole amount available for dividend IN tne
ps5sS oreSvsr liable to SS
100000 charged by Messrs. Bischoffsheim and Col
removal of JAY Could a charge not admitted they un-
dersand by the Company ana IN fespee. 10 one op
which the profit and loss account OF the period under
may been short charged In respect 70
the absence necessary returns are unable to
express any opinion on this point" After explaining
coUatsnts state expressly with reference the dvl
dends that amount the net earnings Tor the
sdiustment in respect OF other above referred
tO-was tl,4G52l9, which would have euhiced for the
payment OF the dividends actually paid on the prefer.
ence stock, amounting to and left surplus OF
S27cO52 for the stock. The dividends actually
paid on latter amount, however to 01OO so that
deficit Of S75O0 has arisen on the working OF the
perlod to added the deficit OF $56.445, which was
the balance at the debit of profit and loss Sept 80,
1871 thus making the total deficiency on Sept So 1873
S93 subject the probable increase In respect
of matters previously referred TO-" The accountants,
referring amended balance sheet In the appendix,
make the following concluding statements
general view OF the position OF pe
Company Of September 1873 according to the books
authoritative examination aud
sons both Of law and fei which sne
the nature extent Of musous liabilities and assets
accomplished before complete calculation OF its present
be effected And for the purposes oi such an ei
useful information accumulated In the course
OF our investigation though not directly bearing on the special
available From the information acquired BY Us win respect
234 the nemina amount OF real estate and bonds
and recovered from Jay Could We are
fall
realized should the credit
Of capital account Of accounts requires ameodmnt 10
mang should be remoed The President
and NewYorf readily gave as complete a
under their charge and generally
dered every the prosecution Of the inquiry ntrusted 10 u.s.