New-York tribune., 1874-03-12
LOCAL MISCELLANY.
rrNlNCIAL CURRENTS.


RESIGNATION OF THE AUDITOR or THE Ei'ik RAIL
w,y usnrR PECULIAR CIRCUMsTASCEs-AN At
rrNpr TO DEPREss TIE STOCK BY MEANS or
FICTITIOUS sTATEM&NT n. ...f. ... .r -.
The Wall-st. markets were active yesterday
with some Guctuatiens and closed at advance over
the opening prices. Tho upward tendency was alueu oy
general feeling OF confidence among brokers tha' tho
advocates OF initiation In Congress would prevail Tho
death of Senator Sumner. II felt. removed one OF
the abest aud most consistent advocates OF Stable
currency During tho afternoon tnere wero large pnr-
chases for covering short interests "a well ~ on on2
account The Union Pacific election In progress 10 Bos-
ton was the subject OF interest and the triumph OF
the Gould party anticipated from an oiriy hour
The increased premium the new Erie loan IN Lon
don and the advance OF cont on the STOCK there
caused II 10 rise fraction in this market phe EAecu
tive Committee Of tho Board of Directors OF the Erie
Comoany held q meeting at the office of 3. H. H. Barlow
at No. IS Wilamst The affairs OF the Company were
informally discussed. aud qualification was eHpresSon ~
the suecess of Mr. Wats0ns negotiations in London.
dspatch WAS read from President Watson saying that
everything was proceeding favorabls bat thst no was
somewhat prostrated in health. note was received
from g. II. Dunan. the Auditor OF the Company Resign
ing his position No action was taken Oh the rc'I8nh
ton but yce-President Robinson was instructed TO
place the bookkeeper temporarily IN the Auditors
position.
Mr. MrRobnsonlaftorwards made the following statement
TO TRIBUNE reporter regarding the resignation or MI
Dnnan It was discovered Tuesday, That Dit. Dnnan
had prepared statement Of some sort, tho exact ma
ture Of which Is yet known but which was intended
10 nure the standing OF the road here ana its cred
abroad. This statement put into tho hands Oi cor
tam persons with whom Mr. Dunsn was operating
They failed to make such Of it as had been pnrposed
and OF the foreign loan secured by President
Watson compeled Mr Dunan TO explain his course aud
present position. uo called upon Mr. Robinson on
Tuesday evening and said that he desired to make
confession which was to the effect that his accounts
were Incorrect aud that lie had made false statements
to Mr. Watson. What the discrepancies are
does not yet exactly appear although s believed that
they afforded no financial benefit 90 Mr.. Dunan Had
Mr. Watson. however failed to obtain the loan ana had
the statement OF Mr. Dunan been made public h' stooS
would have undoubtedly been depreciated aad the com
biuaton OF which he believed to be part Dy' 'eihS
stock short" would have made a successful specuia
ton and he would have gained largely Mr Duhah OK
pressed to Mr. Robinson great remorse at his past con
duct ssiu that tho matter had rested Ike nighmai'
upop hs mind aud that it would, when known, rum his
reputation.
| M Dunan has SHIELD the position OF Auditor since
year ago last October aud complaint has always oecn
made against him that ns books were in 40 romcateu
condition that could understand Them nor nave
the officers able to obtain any intelligent statement
| There VIII he no formal acceptance of Mr. p9nan's
vor1n and since IL h considered unnecessary Office
will not b. filed When Mr.. Watson assumed charSe OF
thc road he acted upon the suppo,on that ils whOle
busineSs system corrupt and aceorun ily deter
mined 10 reOrganze it thoroughly Iie AUDITOR De ''-
| nart,uent was then established and Mr.. D1nan VINO
had formerly been connected with the Baltimore and
ONO Road was placed a s head. The fictitious statt
nant made by The exAuditor in regard the financial
condition 81 the Erle Company in the hands of mem
bers of the bear clique on Tuesday Dut their eHOres
| 10 set il in circulation were unsuccessful u
| g H. Dunan wac visited yesterday by TRhuNE re-
,o,ter who upauired the reasons for his ro,gtoG lie
staed that the facts all before Mr. Robinson the
Of the Erie Road. and he should thcfeIOre
declue, in justice TO all concerned To make any s'"'e
|