The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-05-17
SOLOMON MEHRDAcHs RESIGNATION.
RrMoRs OF FINANCIAL DIFFICULTIES CONTRA.
DicrkD TX THE Ex-pREsIDESr AND his

IrMoRs OF FINANCIAL DIFFICULTIES CONTRA.
DicrhD TX THE Ex-rnEsIpESr AND MS
SUCCESSOR.
Mach surprise was expressed in business circles
yesterday over the that Solomon Mehroach,
president of the Second Avenue Lorse Car Company,
had rendered hfs resignation at a meeting OF tho
Board OF Directors OF the company Tuesday last and
that II had been i'm mcd ltely accepted The fact
considered the more surprising as Mr. Mchrbach had
been reelected TO the presidency al the annual meet
IN. only about month ago The officers OF The COM
pany retccnt, aud the empoye, knew moth
ing OF what brewing al! Sir. Mchrbach's
Office taken possession OF on Wednesday
morning by the vice president and now
acting president OF the road. No Gauss
assigned for Mr Mehrbach's action; but ruirors
anort that It had its In certain financial
difficulties which rendered the step imperative.
These rumors were allowed 10 circulate on Wednes-
day. and yesterday had taken more debate form.
IL was noised abroad that deficiency had be-
discovered In Mr. Mehrblch's aliirs aud that
in consequence his resignation had been called Tor
by the directors. Ot Tho Twelve members OF the
Board seven, IL was rumored, mad voted support oil
the resolution requesting the ana i've lad
voted against H. IL was further rumored that the
whole difficulty out OF The disappearance OF seveu
bonus, tor Il 900 each, on the Second Avenue Horse
hands, aud that lie had promised at the meeting las
Tuesday TO see that they were reAtorod.
"A reporter Of the HERALD called upon Mr.. Nehr.
bach last nght and received from his own lips
phaic denial OF every charge contained IN the
mors relating to hrs resignation lie had resigned, he
said. Tor no ohor reason than that more OF hts time
might be spent in atcndiu. TO hls other business
He had recently begun the ercct.an oil forty
Guy houses. and the conduct oil tho enterprise
made heavy demands upon his ,imo and attention.
when | reelected month ago." saic Mr.
Mehrbach, IL expressed Considerable reluctance.
knowing well nov much Of my time the duties OF Tho
oihcc would monopolizc No other motive nctuatod
withdrawal on Tuesday last and no resolution
introduced At the meeting requesting me 10 Withdraw
The only voting The subject the
ITSELF voting 10 accept and nve wishing 10
do So notwithstanding my earnest request As 10
tho seven bonds alluded 10 that entirely per.
sonai matter. lent bonds friend who wished
TO subscribe Tor a certain amount OF the company's
and told him at the timo II he did pay for
them would The subject was not introduced at iho
meeting on Tuesday ana had bearings Whatever
upon my action o. that OF the directors"
When asked whether his resignation had anything
to do with the building OF the Offices, stables and
carnocsrs NJ Ninctysixth ana Ninety Streets
which were occupied by the company about i've
weeks ago. Mr. Menrbach replied IN the mega.
| tive. Tue coniiactor he said, had failed and
| tho company had Itself completed the buildings,
At the annual election which took place shortly alter.
ward hc had been elected Tor the nth time without
| n dissenting voice. Seeing the rumor which up.
pcarcd Ia an afternoon newspaper Mr.. Mehr.
Dach said that he had gone al once 10 Mr.
McCahill to procure his denial as acting president
OF the road which position he VIII probably hold TIL
tho annual election Ia April next Mr.. Mcbrbacn, Mr..
McCahill, Mr.. Jerome H. Fellows anu Mr.. Waldo
Hutchinss the latter named gentlemen being direct
ors tho Second Avenue ne spent last evening to-
gether at Tho Giisey House, whence tho following
communication was despatched TO the HERALD
AKw YORK. May 10. 1873
Is Of s ss!
ond Avenue Railroad Company by OF irregularities
In The managsment the company would state that
nation Board Directors pri-
+. s M sine and 20 AN
President Second Avenue Railroad Company.
Mr. Mohrbach says that he will continue TO bold The
Office OF director as neretoiorc.