The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-02-10
EXCITED STOCKHOLDERS.
Where Arc tho Dividends Upon PhfIs~
delphia's Invested Millions In the
Philadelphia and Erie Railroad.

Where Arc tho Dividends Upon Phil -
delphia's Invested Millions In the
PhiIadsiphtn and Erie Railroad.
PHILADELPHIA. Feb. o. 1874
very excited meeting was held to-day OF tho
stockholders OF the Pennsylvania and Erie Rail.
road and one which may be the beginning of
series OF sharp Investigations OF untold benefit Ia
the city treasury. twill be remembered that long
time ago the city OF Philadephia invested several
millions OF dollars in this road. but sance the time It
changed its management has never received any
dividend for the same, Mayor Stokley appeared
in the chair in behalf OF the city and It's taxpas-
ers, and the meeting opened with the reading or
the following report representing the earnings
and operating expenses OF the road for the year
ehaihg December 81. lS73:--
EARNINGS.
TIoin lrelgnt. 3d. O42,6O0
Fran pSaS myers oS.oSo
from r express and u.as. .-........-... 1887
FROM miscellaneous ACKNOWLEDGEMENTS. 94,705
iotai'......-. So, 842, OCT
EXPENSES
Conducting transportation ,...... Ss72 25S
Maintenance of cars ....-...... sos 800
maintenance OIL way -..-.................. 1I79S82
Iotal. e. Ala 3lO
Leaving net earnings In 1878. ........... 42s'75o
The report met with sharp criticism and one Of
the gentlemen present use and said he did not
wish TO be at all personal aud that he was no mar
tisan in the matter but des pie what any one else
might say, he was conddeLi that the road could
not possibly pay dividend.
The following pointed and decided resolution.
directed to the Pennsylvania Central Railroad
was then proposed, amid consi terabe excitement
and referred to q special comm Stee:-
Phadep hix and Rafr DAD Company instructed
publish with the annual report row presented the
ahany River Raarord conspsSy p1 chased on account
Sy ws IRON by Sd% m
and the price paid, share and BY what means
If from the sale 81 bonds stass the the Price
SoSds Also ef to n%er What aaihor and to
whom the shares Of Sold me price paid per
amoea tn" Of oss ss 1 S saM sale ana
sos Ss j. ~ lie and
Railroad Company the leeseesi
This resolution Was reierre'sstor the special COM
mittee appointed.
Mr.. Earle then offered the fosIOwing:-
Whereas the stockholders the Phil sdclpha and Erie
Railroad Company have exha ustede means except
their stock the Pennsyls xhis Railroad Company.
hoder there n AMPLE evidences thai the aars Of tho
rhiladslphs and Erie Railroad 6orpany not man.
the benefit q the lessees and connected with the
The s re & amy
Others 5y MAINTAINING con!rseas with the freight
belong e shs ana ali oihssI, ali railrosas
convince disinterested persons THAT these perncious
managers and and their iTe the recpie1ts
OF the Immense profits arising out OF anL perncious
Resolved Thas the Board OF Directors, the Philade
and w fe ka s % as
the contract now existing with such freight Transports
elusive privileges which are operating sunjurIonsy to
the stockholders.
The meeting, after the adoptio mos other means
to secure justice to the CITY and Taxpayers, ad-
jOurned IL is thought that an iEEesagatlon will
prove the affairs OF the road TO De very rotten.