New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-01-29

Jewett WAS elected president OF the Eric Railway.
went once Thomas Scott when he Agreed 70 pc
shortly aftcrwnrd and Mr. Scott could not accept and
he recommended Mr. Jewett a. man Of great expert ,,
enee and II was on Mr. SCOTS recommendation tnai
voted for Mr.. Jewett. have no knowiedSe OF nr.
Jewetts specializing in Erie stock except what nave
heard and the common street rumor.
The further examination of Mr.. Reilly has been post
poned until F at "fSG y 'S Root aony for
the plaintiffs to have defined the power ana lurlsuca,on
OF e reseee To Of questions submitted and
jected to at the examination o. Saturday
ACCOUNTANT ROBERrSON'S AFFIDAVIT
Following is the affidavit of Mr.. Robertson, the ac-
countant. whose investigation is referred TO in Mr.
Reily's testimony
SUPREME COURT.
rho ra,ners Loan and Trust Company, trustee, plant
iff against tho Erie Railway Company and Others
0,iv and 0ounty of Nec. York, S..
Alexander Robertson, being duly sworn, deposes ana
saws thai he rs an expert accountant by profession
and resides at South Orange, the State OF NewJersey
that on about the 18th Of December, 1871, he was
called upon to assist with IN examination OF TIE books
of account of the Erie Railway Company In the posses
sion OF H. j. Jewctt, receiver also OF the accounts OF
SAID receiver filed with the County Cierk OF New-forK
Thai after careful exam alton OF the aforesaid books
of account. accounts and statements or said Hugh j.
ewctt and the balance-scets of the Erie Company and
receiver, and various books containing me minutes OF
the Board of Directors OF said Erie Railway company
appears that the statements of the said Hugh
Icwctt are unreliable and unIustworhy, III that they
represent condition OF Affairs Under his manaGcnentt
more favorable by amount approx maiing the sum OF
81 than IL shown by the fal W
from which said reports are supposed 10 nave peel
made
Dcponent further says that from an examination of
the accounts said Hugh j. Jcwett receiver, filed In the
Office Of the County Clerk, the gross EARL
ngs OF the Erie Road for the twentyeighi months or
thcrrabouts. of SAID reccivorsbIp appear 10 nave
been StS.56i III 15, and the operating expenses
of the road for the fme period. S3b.3J2,3ii ~,
leaving balance OF S12I7i9i6 L. to whic1 II 10 he
added us received other sources, al, l6J12 oJ
making u total of DDS 81 applicable TO thc pay
OF interest, to such other purposes as the re-
cciver migh decide.
With regard 10 the disposition which has been made of
tins sum, well 10 The character or some OF tic
charges 10 operatiyos' expenses" such drawbacks
and oyefchnfgrs, @l2l3727 7S, and incidental
cxpeuscs" $42O12i O6. only more ininnte inquiry
than time has yet been gwen Tor VIII suffice To deeidc
to their piOiricty. ... ,-- ~
ana Icgai expenses" 1924 $40 62 and other extraoId
nary payments. from their magnitude Ia require
such exlinnstiOu IN detail as This dcponent has not
been permitted 90 make. .
ON TIE 18Th day May. 1870. there were s7S0,o00 OF
interest due and payable the LIST of june anu LIST OF
,IuV following. OF wDIc S1UD.OOO were arcad provided
the earnings OF the company, leaving SisOO0o
only 10 be raiSNi
Thc ieasurers rrport shows that at that time The com
paiV had hand valuable r hypOthecatI"n securities
the value Of ~ $50 100, but dcponen ~ Informed
aud believes that the power Ia negotiate for loan upon
securities. customary, taken from the
said treasurer Uf the Eric Railway Company ana III con
sequcncc tn credit ~ Tie company was pafaized by
pursued, and the said Hugh j. Jewcti rres
dent of The company appointed receiver of the property
or about 10Th day of May immediately following
A. kOBEET-OS.
sworn 20 before me thi- 12th day OF January, 1873.
H. THOMSON, Notary Puhlic. New York County.