The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-01-27
THE B1EEcKER STREET RA11RoAD.
Receiver Sonthworth's Account Of us Con-
dition and Former Management.

Mr.. Alvan 8. Southworth receiver OF
the Blocker Street Railroad Company, filed
with the County Clerk yesterday his report OH
the condition Of the road, and n monthly At tie
ment Of receipts and expenditures. Mr.. South
worth says that upon entering on his duties, he
found that the company was being cheated by
everybody connected with It's manage nent. 50
loose had been the management that some con-
ductors had been able to steal els dsv u piece.
Reports of detectives that conductors had for
long time been defraudinR the company Of S12 a
day had not been regarded az sufficient evidence
to Cause the offenders removal. From an ex-
animation Of the books and records Of the COM
pany, he had ascertained that Mr.. John T. Com
over, since 1895 the President OF the company,
had used the road TO favor bis relations. and
that they had absorbed much Of Its earnings,
and otherwise largely contributed to It's in
solvency. There was no evidence that Mr.. Con-
over had paid one dollar for stocks or bonds of
the COMPANY, although he represented one OF
the largest interests Ia the corporation.
Mr.. southworth gives history Of the
company. The original grant, he says, was given
by an act of the Legislature IN 1880, TO Stephen
X. Roe, John Stewart, Charles w. Lawrence.
Clarke, John Fox. William Kavenstyne, William
a. Peck, John c. THOMPSON, Thomas Ryan, and
Joseph =. Craig. They built the road put II in
operation, aud controlled 1t until 1855. Then
the existing company was organized with a cap
ital Of 100000 in stock and 10000 in bonds.
The books showed that all the ock and si3lOO0
OF the bonds were given away without money
consideration. TwentVse persons agreed in
writing, on November y, 1884, to each take a GER
tain number Of shares They received the stock,
but no money was paid for II. The distribution
was made as follows: 10 every full share Of the
origin | twelve shares of the twelve grantees
ned In the act Of 1870 seven hundred shares
OF stock, valued at tl0O each. and thirty-six
bonds OF $1,000 each. The copy Of this agree
ment attached to the report shows that l2l2
shares were given 60 Thurlow Weed, LEO To
John q. Couoyer. 500 to Jacob Sh rp, 40 to John
Kerr. 30 to Peter Is. sweenv, 100 10 Mrs. Eyira
n. SPINDLE. 3,5 to Hugh Smith, 80 to Chester
Lamb 20 to Sheridan Shook, and 10 to William
A. Weub.
MIR. southworth saws that the Twenty-thIrd
street R,ilroad Company and the Christopher
aud Tenth Streets Railroad Company. in each Of
which Jacob SHARP holds a controlling interest,
and also the Central Crosstown Railroad Com
pany, are trying to vtiate the franchises of the
Heecker street Railroad Company. He saws
that IN $50 the last-named company laid n track
20 the Christopher street ferry; that IL was
taken uD 10y order Of the Central Crosstown Haii-
road Company; aud that the courts afterwafd
ordered that II be relad. He attributes
the failure to relay the track to
bargain made with the Central Crosstown
company. lie thinks that a similar bargain in
duced the managers ofthe Bleecker street COM
pdny TO fOrcgO the use OF the Twenty-tnird
street ferry rs one Of their termin.
Mr.. eouthworth's monthly statement shows
that since he took possession OF the rDnd it, re-
ceints have been sl7E,j, and It's expenditures
tlttt5, leaving = balance on hand Of $3.50.