The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1874-10-10
FOREIGN.
ENGLAND.
REPORT OF LONDON ACCOUNTANTS,

REPORT OF LONDON ACCOUNTANTS,
LONDON, October 0.-The report mad,
by the London Accountants OF their in
vesIigation into the affairs OF the Eril
hallway Company, which was read 10
day In the Stock Exchange, says that il
three years ending September 18Th, that
the profits Of the road were 81 ,OOS, ,755, In
stead Of $1.352 .073, as stated In the Com
pany's accounts. This amount Is sub
Ject to a further deduction, N respect
10 the various items charged to the cspi.
tsl which are not audited. The reports
snow q loss on the working OF the Atlan.
TIC " Great Western Railroad up 10 Sen.
tember 30, 1871, and states that $780,
l07 were paid by the Erie Company as
1Glvlaends In the years 1871,
1879 and 1873. The accountants con.
slider that under the circumstances the
dividends on preferred stock were fairly
earned. An authoritative examination
and determination Of many questions Of
law and fact affecting the nature OF these
multlIarlous liabilities and assets must be
accomplished before a complete elucida-
tion OF tho present financial position
OF The company can be arrived at.
me accountants express themselves as
highly satisfied with the facilities Afford
ed them Tor the prosecution Of their in
Vestlgation In New York. There arc
many important appendices TO the report,
which were not read, and which will moi
be published until the issue OF CAPTAIN
Iylef's report, which they will accom-
pany.
The report says that but Tor the deficit
oi $45G, ,G44 shown by the corrected profit
ana loss account, as existing September
~, 1871, $4,000 would have been avail.
aDle, subject to the adjustment OF outside
matters, for dividends In common stock.
Alter the payment Of four dividends on
preferred stock for the two years ending
June 80, 1873 the accountants anticipate
that the value Of the recoveries from jay
Gould will fall very far short of their
nominal amount. An abstract statement
Of the assets aud liabilities of the COM
psny up to September 80, 1872, shows
its liabilities to be $115,440,311, and its
assets $l1S2G5.07O. The report covers
period from September 80, 1871, 10
March 81, 1874.
The following additional points are oh.
tanned from the Erie report, as published
In full in the morning papers:
The profits OF the company for the
three years ending September, 1873, the
report says, are subject 10 the deduction
OF Bischotfshesm disputed claim of $40O,.
OOO for aid given in the expulsion OF Jay
Gould from the administration of the
company. The balance sheet to Sept. 80,
1873, shows net deficit Of Sc, ,331 ,992.
THIRTY MILES OF CABLE ABANDONED.
A circular has been sent TO the share
holders Of the Direct Cable COMPANY
informing them that the management
have decided 10 abandon about 80 miles
OF cable which is now lying on rocky
bottom, and effect splice at o more suita.
BILE point. The circular says that in all
about HOO miles oI cable have been laid
and satisfactory tests are obtained daily
by electricians.
BURNED.
The East Parish Church Of Aberdeen,
the finest edifice oil its kind in the North
oil Scotland, has been destroyed by fire.
MINERS LOCKED OUT.
The miners Of West Riding, Yorkshire,
to the number Of 600, having refused to
consent 10 reduction OF 20 per cent in
their wages, have been locked out