New-York tribune., 1876-10-14
NJSuANAGEMENT or RAILWAYS.
TRUTHFUL CRITICISMS.


THE DIFFICULTY OF OBTAINING INFORMATION
ABILITY WITH WHICH THE TRIBUNE HAS hA-
ANIyFp THE BOOKS OF CERTAIN COMPANIES
To the Edftor OF The Tribune.
SIR: Your articles on finance and criticism on
railway and other corporal ions have been so remark
able rs 70 deserve moro notice than they nave IT,
ceiycd. The weak attempt 10 eyade their iorco pS
considering them as written to aid the beaflSh III,
terest i'm stocks is in part confession that there ~
no real answer to them TO their figures ana their
conclusions Their spirit and method are so good as
TO exhibit much that is permanent on the question
of political economy aud the ySiSand crtlosm oI
corporation reports. In this field 1t Is lalr 10 say
your paper has made mark and a career hlghcr
and ADLER than any other journal has yet attempted
No paper on either side Of the Atlantic has oinleN
bly, resisted the arts, the Establishments ana lhc
temptiu,, patronage Of directors, promoters and
contractors Of such companies, aud 50 consistently
aided the too frequently deSpsrd inquiries oi the
b,lplc,s and BETRAYED stockholdcr. lou have done
in In, vast field of the $1,000 100000 Of railway
sccur'ties that which would have made any journal
fuous I'm the case of the exposure OF the Ring the
whole people rose up To the support of the press. ana
great LAWYERS able detectives and the Committee oil
seventy united to make its work easier and to on
courage and applaud.
But your much ADLER Investigations and much
more ulucky arraigumcnt of corporation fraud ana
treachery are received in silence or, what Is more
remarkable, with mpudrnt and improved contra
dction II is easy 10 see that corrupt directors and
promotcrs of corporations, the bcnciiciarcs o fat
corporation contracts and leases, are combined To
obstruct the search for facts IN regard to thcir
action aud see nothing but exposure IN the review
and criticism of their reports 1t j. odd too tai
tbcir dup.. are sensitive about being told how much
IL. Inn
rpns that thc sympathics of shareholders who are
wronred the most often sets against the efforts made
TO help them, and they act as if il Your journal
which had made their property worthless aud not
their own trustees who had leased and johhcd II
away. You are rcaping the reward of the rcforncr
and the revcacr of true but uncomfortable fcis.
Let these unfortunatcs feel they will IL has come
to this that they get more light and information on
the value Of their property from your Journal tl"n
from the clumsy, obscure. and cyasyc reports oi
thcIr own agents. Facts are dug, cxtortcd. and
lashcd out of directors clnd' slime contracts age
revealed by special detectives. suppressed hsrr
are hunted down by experts, and generally ii'l'
which arc the ripht of the shareholder 10 know are
discovered against the director JUS ~ crimes are
followed up and proved against the criminal classes
by the police. and finally if anything true or honest
is got out of them they are got just rs debts ANA
taxes are got out of an East Indian, 10y torture ~
this field TE TEInuNE is (acic priHcc', and already
all over the land, the knayish director Is trembling
or conicssing.
Among the many good criticisms OF IHE TriBuNE'
those on the coal stocks and Ncwlork Central stand
conspicuous; and il il remarkable evidence of their
truth that all of the charges made in these articles
stand substantially confirmed and confessed, or at
most arc only denied IN brief and uurcsponsyc gen
eralitirs. like Mr. NanderbIlts letter OF Mr. john
TAYLOR Johuson's letter which regularly turn ont TO
be- worthless or deceptive. The insolcncc of Office
has rarely been exhibited with more vulgar ompla-
81, than in the marked contempt with which the
railway president responds TO his constituency The
sylc and matter Of these articles are equally srk-
ing. aud they show how much more your clever staff
of writers and contributors do IN the field they
have explored 50 well. ! make them my thanks for
their labors and for one. think, comprehend ilio
value and difficulty Of their work. BANKER
Nstr 1orE Oct