The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-01-06
BLEEcKER STREET RAILROAD.

THE RECEIvER's WORK OF REORGANIZATION.
The work OF recognizing and regenerating the
Blocker Street Railroad Is progressing very favoraoly
under the skul management Of the lately appointed
receiver, Mr. Alvan Southworth. The cars are run
ming better time already and the receipts for the
present week twenty per cent in advance OF the
receipts OF the corresponding week last year There
seems TO be general desire among the stockholders,
bondholders, creditors and others interested the
road not to press any OF the suits but give il
chance TO itself from its present depression
The income OF the road is ample to pay its indebted
ness If properly husbanded and managed In fact.
since It's commencement in 1865 it has never fair
chance but has been less under the control OF
local politicians In 1868 the following report was
in 10 the company, showing that the road that time
was worth $665 O0O This report found by Mr..
Southworth among the records OF the company, and
speaks for itself
PETER swEESY's REPORT oP THE ROAD
To InE BOARD or DISEcIoEs o. InE BLEEcKKR STREET
The COMMITTEES appointed 70 examine The Affairs and con-
dons Of the company beg TO submit the following state
balance sheets Of the Treasurer e 3lst day OF Deeem
Income from all sources 1867 ......... s2aesl2 "a
Es.imsted ineoms IN III ss $50 ~
Disbursements for all Purposes in 1882 4e5 q
Estimated reduction in 1858 ........... $500 es
Total debt peeemb sG 81 S qsS7 9os2S Sc
Balance December 81 1868. e24o "a
Except payment Of notes
day the a %
% OF U a es 20 Pdt OF The assets
Sthe company from which t appears after estimating the
viz 600 he whole property is worth the ofse5 600
being less by $4,000 than the amount Of bonds
committee beg call the attention the
Hes@Sosts on the SoTs River and would recommend
to procure i possible the landing Of their boats at some
point near the present terminus of the road and that the
coed dollars TO insure such landings. 1t is believed
to the receipts
This report is signed by committee, consisting OF
Peter b. Sweeny and two others.
In 1878 the city agreed toccept per cent on the
gross receipts per annum as tax on the franchise, in
place of $50 for forty This gave TO the city
that year 81 400, or $500 more than the tax the
cars would amount to- This system was brought about
by franchise granted In 1873, by which the
Blocker Street Railroad has right to run over por
ton OF the line of the Broadway and University Place
Railroad and OF course the value of the original fran
chise increased thereby. The people who trying
10 lease the franchise of the Blocker Street Railroad
the Twenty third Railroad we'll OF
this well OF other rights and privileges which
have not vet been made manifest At present on ac-
of the increased trave the improved system ofc
ectng fares by the OF the bell punch which is under
perfect espionage the road which was worth on Jan
uary 1865 $665 600 is worth 81 600 0O0-that is,
500 900 in bonds and 5000, 200 in stock. 1t is
because Of the increased value of the road and
its franchise that the people who controlled
IL so long still wish 10 remain masters, TO the great
aggrandzement OF themselves and the ultimate ruin of
the bond and stockholders Threats have been openly
made by certain politicians OF the old ring that they
would again have control of the road in week If not
by fair means, then by foul Taking time by the
foreock, Mr.. Southworth, who has been APP
pointed receiver by order OF tho Supreme
Court, and which order commanded him to rescue
the franchise OF the company and all pertaining thereto,
applied to Captain Thomas Kennedy OF the Ninth pre-
cnct for force of men TO guard the premises Two
policemen continually stationed at the door OF the
receivers prevent the intrusion of evil minded
persons and in that information is received Of any
preconcerted attack Superintendent Waing will be inn
medaiely applied to for strong force 10 preserve the
property OF the company Eleven conductors were dis
charged on Monday and seven additional on Tuesday
night These are intimately connected with the
old regime and particularly loud in their threats.