The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-04-29
tied by telegraph from San Francisco :

THE ERIE RAILWAY COMPANY.
Not little Of the depression In the stock Of the
above company to-day due to the publication from
private OF kilograms purporting to have ema
mated from London authorities setting forth pre-
sisely the facts, although in unfair and exag
seraied form, that were communicated to tho joint
committee OF the board and stockholders 18th Of
April BY Mcssrs. Fleming Miller. Tho only new In
formation, such u may be, 10 that Mr.. William n.
Evars has been retained represent the bondholdsrs
aud press The foreclosure suits The report OF the
mssoncrs question that the floating debt on the
lsl Of February about 81 s00 The liabilities
oher than funded and floating debt, ~ balance OF
g. 600 due coal lands bought by the Watson adj.
ninistraon TINS due during present year. and II
Got paid the % g, COO o00 already paid may DO
forfeited. C2 Tho OF the third rail- presently to
DO LAID from Buffalo TO Elmra will be 81 zoe. 000 which
must be paid during the two years. (s) some
81 AGO. 900 OF the bonds Of Boston, Hartford and
Erio interest guaranteed, which now in litigation
and dependent on the decision Of tho Supreme Court
The overdue interest exceeds $500 900 ranks
tho mortgage bonds and ahead OF the stock
Tho total amount OF funded mortgage debt il
$54 294 100 witch the interest Is ~ 1906 ST.
On this debt there OF over $1,000 ooo ma.
turing since June, 1879 unpaid
The recover holds assets stocks and bonds OF tho
nominal value Of 500 ooo the greater part OF which
but about "a, COG, 900 may be estimated dervabe
The annual revenue for tho year ending September
&c. 1875, for payment Of lease and mortgage in
shows net deficit Of $50 0o0 or including in
tercst coupons In arrears nearly 81. 600 COO Ia
other words the earnings sufficient provide
for tho full interest the nrst consolidated mort
gage and nearly two per the second including
the gold convertibles The OF $25s 2o2 has been
spent in improving the condition Of tho line since
1875. The belief 10 expressed that with economical
management the net profit will be sufficient pay
handsomely . much larger sum than the amount OF
tho mortgage debt
The report then considers various details In The
past history Of the road and recommends reorganza
tion by establishing effective OF tho man.
agemcnt by the bondholdcrs; restoration Of cqu.
Hbrium between the compulsory interest charge on
The mortgage debt and the minimum net earnings OF
the company, and provision for narrow gaugng the
Referring TO foreclosure tho report says that IL 10
Inevitable sA that stockholders do stc delay It's
consummation, and We suggest that the COMMITTEES
should proceed with vigor this direction Of lore
closure tho inviting stockholders 20 vcst
thoir shares In trustccs"
Many of the foregoing facts already familiar 70
the public, bus we reproduce them 20 show that tho
bogus dispatches OF to-day based upon the report
Of April IL. Possibly meeting may have been held
to-day or may be held 10 morrow London TO con-
slider tho subject further bot " 80 we are this
writing advised
HALLWAY xEws.
From the Stock Exchange We receive the following
statement OF approximate earnings Of tho Missouri,
Kansas and Texas Railway Company for the third
week In April 1s7s. 10Th 10 2ist inclosive:-