, 1875-05-19
RAILROAD NEWS,
THE ERIE.

HE EHE.
The report Of prcsidont Jovett. tho Hon. E,
Morgan. and John Taylor Johnston, uio woro
appointed committee to inform tho stock
holders Of tho financial condition and policy Of
tho Erio lsailUay wns n,ada public Saturday.
The following abstracts contains tho statoa,cnta
Of tnoat intercnl
tho funded deb, outstanding IN $5t 3oi lo1 the
4nu9sl n1 4a ntsrsss aecrn!ng thereon being so
bond. are outstanding. lilo balance u bonds-s5oo ooo
-.akng IN tho full amount OF .ha lssla authorized,
s wnsA Is s ssse S;S,se ., ~ ' I'll fl, . 5saass
Jossu asslsa liz rlss1eney en- 4' u asa ts roaa ma
@aS Sng 1cas:ss 1as:se' ot The tnses bonds lad
isxss ~ rs,1:'na essoss ns01 IT, rate. e
%hsl; tlo,s honda were soll tho aggregate amount
ent time realized by Tie Company. wao set fnlln Ia
tanu1s ani q fesm aow,nE thas tie .ount realized
rocee. Of ale, wai t amount re,uaips 'a te
l,ans nf Tho London nankIug Asbocation and james
:eary hsld Iy them to .neyt claims, tho og.llty or
o1 "asea eoaaa not os recognized by this Com
81 q the proceeds Of tho bends sold Tho Company
stock Of ths Cleveland, CotnMLuR, Cincinnati L In
;iianaPols Railtoad Company, and c1s,,S9l Of At
certificates; but lbs proeso amount for wca tIe.s
"ers returned las not been utincty settlel or tic
9ggreaass proceeds OF tho bonds sold, tho amounts
'solfset III London 0u account Of the rcco5ul1gd In
anoant rt,ntcd to the Trrasurcs prevoun 10 July IT,
T1ossnrer since tlat lato wos s25ss Isl: akjng an
sgcssgate Of leaving s1542 to IL
controversy bc:wcon the London BANKING Association
Mr; Mctienry, and tho Company.
Iho total ttlsbarsenieut on 1oconnt of Indebtedness
nsrrea sd 81 snbtequent to July II, ls74 amounted 10
'i.F u. Il statement gl,ns he earning, spd
ING With tho month Of March Of each year t11owa
Se;res.a n thu earnings Of tie last nina onis Of
H1Q a n4GfCa80 in tia nat nf
Among the caEses to which tho President atrlEu+a
thIa doeFcsao Of net earnings the stagpan condition
within tho fsat few nonths. has arIscn between Two
lending trunk liuea aud totally destroyed Il. trauapor-
p se oaargs" or lie teses. ret a on to 'aslsa innsa
ebt, tle 0onany is liable for rontas snd Ka.tantaed
il n 9 ,na 10 sto and Iond e .,
a a. q tas Fapsttiss IT, eoi sum oi tsss
!..al. TaeIo leases aud guaranteeg, tha report
ee,nny from tho roads 1ea.od undoubtedly .ddos
eqHal 10 Tho srnta!s paid. Tic lines rcra generally
n sss tna wSs ~ a.}. r. n poposon to o rnc
At lilo coas Of iha report President Jcvost doantl
Ills losion rotated 10 tlo Eric Railway, liz hs!
efsn ntsred a .a trcsidency he ss With ca.rantee
enable him to raeet Tho amalts,o sacrifices he woil
ill., se.sce the @ ereneo tstassn L. n ss,'s
ana ooo for ten year,, In many respects to past
A!u ocGu al uul0fslU1AtA one. Ih9 mi4tQ5tult&
aud ds;acultirs Of other ruals, in better eondiou
financially and physically. weighed heavily. liz
r1scnnes had been dltnintahcd, hut not in .
greater ratio titan that Of others. Ia e1.
penEea hsd been dimiuished under tie
circumstances, perhaps. to greater ratio
than tat OF OILERS. 1ta burdens e4cessiye, bur
It was cApabls Of being Developed to m extent nor M.
precated except by thona ncquIn.cd with lis inma-
tiata reHnvccs. II Il had tho Of paving liz
Hoating debt. and Of putting itAolf on terms OF
equality with It's competing lines, tho expense OF ito
mante.Iat!co anl operation could bo largely reduccd
This Fre'tcnt said blu fu!th Ia the vaue OF the prop
orty was not diminished. With suitable management
an all tern waa no season to doubt tho ability Of thu
ROAD anHJ to realize thu expectations of those who
ha! Invested 50 largely IN it; but without auch iii
anu management iA career must 10 uuatabit tts
rocy Mctnattng. ttB credit impaired and 10 Tho end
Tho rosnt would ~ disastrous to many Interests that
oshcrwlso might be fully rruteetcd aud preserved.
TIE NEW YORK T. HARLEM DIRECTORY.
NEw 1oHx, May 15.-Tlle following wero to-
day elected Directors Of tho Now York l. lIsr-
lcm Hallway Company, Cornelius Vanderbilt
William II. Vanderbilt, William q. Wotmoyo
Augustus Bololl, Abraham o. Day!is, Jsmos IT.
Bunker, john D. DutclscE, Johsph Harker, Cor
,.ollus Vanderbilt. Jr.. Kobott j. Nlysu, Cor,e-
!tnH. NJ. MoAcrote, ChauncsJ II, Uopew. anu
William II. Leonard.
UNION PACIFIC,
NEv YoaE, May ls.-The grosa earnings of