The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-05-28
THE ERIE RAILWAY.
,rrvyr At WORK AND THE NvENrony

THE RECEIVER AT WORK AND TIE INvENroEs
OF THE ROAD THAT IS BEING PREPARED.
There we're no new developments In the analra
OF the Erie Railway yesterday, and even wan
street seemed to have come 10 the conclusion thai
the best thing TO do under the present SITUATION
OF anairs was to keep quiet and, hicawber Ike,
wait Tor something startling TO turn up. II IA
highly improbable, however that anything start.
ling will occur for some time TO come. and, judg-
ing from the good feeling that has been evoked
by the appointment of Mr.. Jewett as the receiver
OF the road, II anything does take place OF q stare
ling character, 1t viii not come from any action
on the part OF the stocKhoders OF Erie or persons
Interested in the welfare OF the road.
Mr. Jewett was at his office yesterday bright
and early, and all day long was half pestsred TO
death by visitors from all parts WHO wanted "a
.'conlern with him about
THE BEST WAY TO MANAGE THE ROAD.
But few OF the callers were admitted, owing to
the extraordinary pressure OF business which has
SO suddenly come upon him since MS appointment
as receiver. A HERALD reporter who called
during the afternoon had conversation with Mr..
Jewett relative to his plans for the future. Mr..
Jewett said ne did not intend, AZ some people
supposed, to make q "blg thing" for himself ous
OF his appointment as receiver. II am, saia
he, ''under tue order which placed the Erie Kali
way under my control, an ofncer OF the Court, and
such intend TO do all that lies in my power
for the GOOD or the road. No one VINO has any In
terest OF q substantial kind in the road viii have
reason to fear that his property is at all in jeop-
ardy by the change that has taken place. intend,
so far as can, with the assistance Of men OF
ability and who nave the interests OF the road 1t
heart TO conduct the affairs OF the company In
such q way that will be commendaDle."
THE REFEREES FEES
In answer TO the question TO whether no
would draw his salary as president OF the road
and take fees as receiver also, he said:-"I VIII
not take ootn. l am in the nanas or the Court
and the Court no douot will do Whatever ID peat
Tor the road. Under the powers given me al re.
ceiver have the right, think, TO pay the presl.
Dent his salary, Just as have the rgnt to pay all
the employees OF the road. But II the PRESIDENT In
paid his salary the receiver Will not take any ex-
ira allowance. Inat IS d conclusion nave come
10 ana to which Will adhere"
Speaking OF his duties as receiver, In reply 10
certain laterrogatorles put TO him, Mr.. Jewets
make an inventory OF ali the property OF the coui-
pany over which ne mas control rms inventory
will cover everything, and IN the case oil u COM
pany like the Erie Railway II will axe some time
before 1t IS nnsnea. The Inventory will show
everything available IN the way OF property; but
1t VIII not SPECIFY tue vaine OF any article. Ii Will
CONSIST simply OF q list or every hing, great and
small wnich, IN case OF sale OF the road, would
come IN as articles salaDle.
when the receiyersnp VIII end" said Mr..
Jewett, II DO not know. II all depends upon cir
cumsIances AS an officer oil the Court the re-
ceiver mas to MAKE faithful return OF all moneys
received of all payments made. or course, THIS
Is q business that the Court cannon, or, rather
will not care to carry on indefinitely.
END MUST COME
in some shape by the actlOn OF the stockholders
OF the road II they Will come forward and put
enough money into the treasury 10 relieve the
company from its emoarrassments the receiver
VIII be set aside and the road 20 back into their
possession. II not, why the receiver Will continue
ms conlrol until the Court sees lit TO make some
change In this respect II is all powerful
a
the stockholders came forward 10 the relief Oh the
treasury Was non-psying business, a. best .
they could Of their money, their remedy win be 60
apply TO the Court, be made parties to the sres.
ent ISSUE and ask that tue road be sold Tor :. ell
benefit. but THIS q contingency said Mr..
JewetL "tnat is not threa, ening now-one, In fact
wnicn do not apprenend"
Mr. Jewett adued that the arairs or the roae
under the receiver would be conducted
FOR THE BENEFIT OF THE COMPANY
just the same as II nothing had taken place In ita
regular management. lie also stated that the
pany 20 loan the 100000 asked Tor ~ the Erie
was a surprise 10 him, and tnat ti statement
that the Erle directors ana the dlree ora OF thai
prIeiy OF the loan before the refusal was made waa
falsenood. He said that the refusal was doubt
less prompted by the street rumors about In
functions Impending against Erie and all that
ana that so Jar as ne knew, the Attorney Cen
eral had never intended 10 move Tor the abroge
ton OF the charter Of the Erie Railway because
OF Migrant violations eff by the management
FORMER RECEIvERSHIP.
1t may be OF IN terest TO state Just here that tns
Erie was placed IN the hands OF receiver about
seven years ago during q storm OF litigation. In
which FISK ana Gould were interested. and tnat the
receiver was Peter u. Sweeny. IL Is alleged thAt
his control of the road lasted Tor only few days,
and that for hls services he goI 5o.0oo--soms
allege $780, 600. Strange to say, the records at
the Erie ONCE do not snow that ne ever quallned
as a receiver. 81 know by an examination OF the
booEsn said one OF the Erie officials yesterday 10
q hERALD reporter. "tnat there Is no record oil
Mr. Sweeny's having qualified as receiver OF the
road. l remember that he was appointed re.
celver BY one OF the Lang Judges but ! DO NOS
InlnE he ever uuAlned. whether he got q big or
little sum for the matter OF being appointed can
not teil.n
There was no hurry In wan street yesterday
over Erie, ana toe buls ana bears seemed 70
look upon the change OF AFFAIRS a. thing lons
anticipated.
Mr.. Jeweu yesterday issued the following u
the employees ofthe Erie Kaiway:-
RECEIVERS ORDER, NO. l.
The unde rsigned, having been duly appointed
Receiver or the Erie Railway, Its branches ana
leased lines. has this day assumed the control
thereof, and OF the equipment, material anu Al
otner property and assets belonging thereto. AL
of1cers. agents and employes viii continue IN
the discharge OF their respective duties a. hereto
fore until Otherwise ordered.