The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-04-14
FINANCIAL.
and
THE ERIE RAILWAY.

To PRoPRIEroRs OF THE ERIE AND ATLANTIC AND
Gs11 " London sends u. tho following
communication for publication
mated that been taken prevent
closure ana sale Of The Ere by proving
that competent ana honest hands under strict super
could be restored TO soveney and regular payments Of
~. which s our y ere
diverted from the treasury stated the origin OF the
With Mr. Norris n 4, Il wnoss az to
q the announced bankruptcy following
rapidly official assurances q great prosperity Instead OF
gentlemen returned so England bndoidsd rs the conG
the r. y msn
simulated insolvency. which in day struck millions om
Sir EDWARD WAIKIKI having absent weeks.
lns With Mr. Jswe 30 submitted TO the court BY Mr.
ana MN rne . ws as n
has honestly been carried out M Merits having been
e ne .s. IN Amsss ana that 4. had
Ssa sa ns n % s"a Si sh
sir that what always asking. but which never
might have mad contrary effect secured for the whole
This nrst attempt Interrogation management
OF the sHs o. M as ~,
- 81 az rs are "nS M
isd has thus curing nearly three yearsbeen ao~ed to
The legal proceedings now progress. promise
successful We inendt 60 got 70 know what has become
have found srong indications the money borrowed in
London ,e . sas y sas r n saa allied wn
sherman Co. from whom larTs oalanee Is due dos,
tha, hrm Of Erie that large amounts
Of , o hast hc Ere
aud that since 1874 the financial position has become
discovered that Of the proceeds or the issue Of
., s1 ,san 30 L9ae0 ss p'Ss
that OF tho proceeds oil the convertible gold bonds
and ba snail ia With the
which the ~ tho preparation OF
the ucrtus Ot he
three London issueso record appears.
way has not been nprovcd and the machinery and oad
Of tho company appear In no way benefited By these
surely very wrong in demanding thorough in.
based ON sonfsc.tion Is forced upon you:
The Ere Company Is solvent Of s.vsns Ihas y inc
have only 10 recover It's from
= tue soad we're ir.adu ent In a,,h on wnen the con
Company now in Office being III very same who
these statements VINO ereated the bonds aud received
power by the scheme OF econstructon ftheir
IN th has heen DISASTROUS what possible advan-
tage you have from which leaves you
the same adminstrsti n and relieves under special
sponsis, Their desperate struggles ana vigorous
vigilance prevent Investigations Indicate "
much danger TO prominent parties Il we are allowed 70
was the nesotiAtor Tor the London loans and couse
queuty II Is my riot aud duty aud pleasure 10 protect
on m, sell and pui my
compel ioree investigation INTO these transaction
force compromise OF withdrawal OF sham litisstion
hive As earnestly As can write .aa cnphaiieay
speak me ,.naaoas sasses,cn l. Is also
on the tre amit that have been crcdaioas IN my
not iao,ic enough 90 ENFORCE o. support contracts with
behalf d the .lsn.ie add Great Western likey - IAN
onen Of T. resources aaa punetas p.ymen. q .. rectal
extension OF tho Erie. rnder Lrls guar
antees snd a.ro.dy formally leased 10 The l;rs
railway believe in the Jnted states via 80 per cent
viii. cinenn.i and tue Vest ana WITH he petroleum re.
-a sSas ., - !, ,% s.srn 20
from reformed simnis atiou placed Ia power ior the
tie Atlantic Drsa. account o.
very large. and with lair play have rata in
IL is twenty years since. engagements from
Grsa, Western These Brio engasements which eatfappea
Of asapponsment aud a,ssser The Atlantic aud Urea.
we:tern. tree IRON the Erie which holds IL.
universal jogoery, would with Intelligent care. rapidly
snow every mile Of u. and declare that better
placed railway for economical working Developments Of
l.h r"s.y .l,p.,.ns = y s.s Local a,sursnes d ae
Mnd punasssa w many years ny toe Ire manasefs ~,
no ony aspsn.sn ~ .as Erie nf connection WIN .e
burg "a. es sass the sammsy without cost %
outlets IN all directions and relieving from ssaage 70
Many railways have been In default in England and else
whse ~. pave recovered 'ser position Not oue Ess
remedy tor the nnancis embarrassment OF english
railway sac ~ auction aud destruction Of al interior
or BY the 'w,png out" aud sealing down pro-
cesses familiar 70 American lawyers, who
pear higher atm Jusler knowledge OF railway
revenues ~ enterprises destructive the
aud It's customers.
not BY such that south Eastevn Metro
politan Brighton or North British railways elevated
from dsaster to p orpsrity.
call The attention o. the proprictor the Atlantic and
Great Western. whose present osereded position Is dae
cedurc OF the erie Reconstruction Jornnitte
their nights: and call the bond and shsre-
holders Of the Erie COMPANY who have been ured aud
dashed that committees into parting with their
and paying assessments their shares under Of