The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-01-28

AS tne interest on mortgages Is caiCWateu III tiio
rate Of seven per cent it will be seen that the sur
plus Of earnings over expenses for 1872 was not
sufficient to discharge that liability, and conse-
gueutly the road was not In healthy financial
condition. which may account for the complications
which have recently paralyz It's business.
No report for the year 1878 has been made to the
Comptroller and as the public have not been
otherwise informed as TO the manner In which the
road has been manipulated for the last year, and
as nothing definite has been given to throw light
on its present Insovent condition and the pros
poets for the future, HExALD reporter called
yesterday on Robert F. stockton, who has been
appointed receiver OF that corporation. to
ascertain some particulars In relation thereto.
In response to a few inquiries touching the main
points at issue Mr.. stockton substantially states
employees amounts to $4,000 and as far as the
labOrers are concerned the road would not cease
running for twenty-iour hours, as all they want
Il for some competent parties 70 take pold Of
lion sne% on ~ FRIDAY N last, s's %so pT re-
quite an independent tone to them. They sgnihed
their Willingness to agree to any arrangement by
be protected. He did not consider the recent
demonstrations of the laborers Greatly strike.'
The cessation OF business on the road was caused
through mistaken idea as to the exact condition
oil things. The employees have appointed q COM
mlttee from among their number to con-.
suit with him. There are about 300 employees
affected by these complications l would like, 70
lease the road If could get some of the best rail
road managers to take charge OF IL, in order TO
pay the men and keep the property in good order;
but the reputation OF the road Is so bad, and, be-
complications that 1t ia extremely difficult
to get any reliable parties to assume
control There are 80 many different antagOnistlc
interests concerned in it that good deal OF time
must be taken to examine into the actual cOndi
ton Of affairs not to do Injustice to its bond
holders or creditors He must look after the in
terests OF ALL so that he would not favor one party
and, by SO doing. prejudice the interests
Of many. The only practical way to solve
tn the difficulty is by running tine :, road OF. on
be leased that the lessees pay the men as fast as
the receipts would permit. He did not want to
put 1t In the hands or irresponsible parties who
would Skin it." The property of the road would
fast trains, but by slow, Judicious manage
ment. He Is endeavOring to use prudence without
any iavorttlsm. He Is taking advice from the
Court or Chancery and Is In consultation with eX-
perienced railroad men, ana consequently he was
satisfied that the interests Of the public would be
satisfied in the end. He wants the public to stand
by him, and If 1t did he would take the road out
OF the rut and ultimately enhance its
value. He was satisfied the employees would
cooperate with him. He was anxious to have the
matters and prevent the accumulation OF any more
COSTS as the property Is now little enough to pay
present liabilities. He was satisfied, from the
present aspect OF affairs that he will have TO run
the road himself and that active operations
will commence the week after next. 1t Is not
true that the Baltimore and Ohio Railroad Com
pany have been negotiating for the lease of this
ROAD. mistaken movement now might destroy
the whole property. He was happy to state that
daylight was beginning to show itself, and that as
man, be was sure result highly satisfactory to all
would be arrived at.