The New York herald., 1874-12-15

the several Drhncne5 WAS AMENDED win mucn
delay and difficulty In most OF the cases where pro-
ceedings had been commenced before the appointment
and qualification Of the Commissioners. and had pro-
creased sufcienty to operate ien against the Gem
panys property before IL became vested In them they
have been shall be compelled 10 agree to an
adjustment by the payment Of the claims In
they had TO resort to the purchase OF the coupanys
property which had been seized and offered for sale TO
prevent Its disposal runous rates and In others they
had to the claim and costs OF suit The proceedings
instituted since their appointment have been nearly all
set aside under the provisions Of the Congress- but
In one or two they have been compelled 70
pievin property seized and furnish bonds to abide
the ultimate decision; and at Nashville Tenn where
the company holds real estate valued 1t about
SN00a they have met with considerable embarrass-
some n dSoss,
ing th1 a. the stsTosy t9 the
s cy the M e; Of June y M no.
!ha, IN ths aessnce of ioTm. BY ihs
Ss e s ,S and
the attaching creditors ACQUIRED Dy their saehmsns
have s hs1 a S an
prssrrinx IN view q NE q s the deposor
"a ,ss sa Il
ssasS sS,ssisd ssi
1ss' 1as sus ana
msss
xn loans 81 . :s ssnpsSy s ar Dss
BE- subject 70 'as as
on me cash and cash ,sps On hand q the several
sas
s s
mainly OF temporary loans due bills and hor carried
amount sSs oo%nssIoas1s Si prove sots loss
] e tie ss sas. s1ss fs Which, Ct Ssy
have had 70 contend owing to the defective system Of
GENERAL CONFUSION OF rHs ACCOUNTS
q: sS ssS % s
ssy shall e. b abe 70 obtain an
Company any rate viii Ss slow and tedious pro: s
% s re h afs Sn SRs 81 A s s w
eyer eye, ssventy:twe thousand dspositor. accounts
s s sss ms s Sssn ss s S
% Of the
narssbe those o. the Wsshag.on branch alone CON
@ is @ IA
twice transferred from one Of. the old ledgers OF
ans S the made s
books s, 'ns%ssiyes the Sas. Of their sxamnaon
snsSssd IN q Exciting the ;uspeon Of dspoters and
books Many the depos,ors themsslves looked upon
10 q s Of TN y sa q s
comDany's Indebtedness TO them. and no amount or
Il ss IT sw
Orleans and st Louis have received Most them
reporsss ~ : III charge % of
and records q Srsnones ha
have been rsseysd and properly srranged it Is The
ACCOUNTS ana Continue The vericaton Of The passSooas
fsa. hSps sFvs close to the cor
THE coxpANYs LlAslLrrrrs
The Commissioners accompany their report with
elaborate tables assets ledger balances liabilities
2e fssq s o
srs assum conTo the running expenses q the
PER snn%@ Tisss nave 0esa cut down 70 about Ss5G3
been Of the most impof ana decided character
Ds o s
with them and knowing their anxieties and readily
say
S s Saa and sy wSas s be
precatng the difficulties the Commissioners would en-
the have been compssG as Il wsrs t.
listen TO their apgeas and provide means Of
yaensysT needed at salary gm slOo
anu Memphis Tenn, where large loans have been made
and the II, .. the SeposltDss require IT, agents
siiay the interests q and
~ Ss asSd sS in s Of wnds up the
:. rnE =. LOANS "a .. HELD - sY ..n rns &C. sonrAsx
h to M s s In ases is
Ssi%
,sss. seu:si!s @ - ] IN, sessass
would N the q % and e
70 e" resas @ the thereon sa
% fsss
ss a ss ss ssss a =
buy IN the proberty to avoid sacrifice, and
az esns s%s se.eaa &
psret Of COLUMBIA sesne now below pa
3 loans the na security is q
bank nave been loaned upon personal
ess
appear e be the worst in the possession Of the com
ss
70
SpeEaon Ct GSngress 10 makng oysr some 81 tas Wssn
for the uses and purposes for which they are admirably
nn q y ion % s f. as
matas e5issns It the time Of fhs
s ensp epn
pro pro ra.a s.sasnds mssssr gnmsn.s now
q e. T 60 s f
checKs to the order Of the original deposit.
apparently harsh asa,ns. some Of ihe most
masses Of our depositors keepns them from sacIcng
transactions from July la 1874 to November 80 1874
% S s.na n p;D sa
say their collections have comparatively speaking,
been small, and the cash hand does not promise
very early dividend, unless Congress comes to our aid
and authorizes the purchase for the use OF the govern
ment OF some Of the real estate owned by the company
long time will elapse before can hope TO accumulate
sufficient funds to make payment o twenty per cent;
al the writing. OF this report is 1,s6 Inc present
condition OF the books and accounts Of the company
too such that II had the funds now
to declare dividend It would not only be imprudent
but pnsaie 70 do Hence II T. impossSle for Us to
be allowed either to reconcile the existing dscrep
anciss, at least to arrive At some Satisfactory ex
Betrayed into. the payment Of obligations. al.
ready satisfied, or neglect 70 PROVIDE Tor those
stn due, bu. which appear closed on the booaa 4.
accounts OF virtually thirty four separate aud distinct
banking institutions must be thoroughly examined.
That this delay In making payment viii cause bitter
disappontment and much suffering is evident still.
Aa1u ruav s1ah1a nd nal