The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-05-17
PRESIDENT MEHRBA CH RESIGNS.
The Rumors that Followed his Retirement
from the Second Avenue Railroad.

Tho resignation OF President Solomon
Mehrbach of the Second Avenue Railroad Com
pany was offered aud accepted at meeting Of
the directors on Tuesday last. and since that
time there have been rumors in Wall street and
among railroad men that there had been n disa-
greement among the directors. and irregulari-
tics in the financial management Of the company.
Mr.. Mehrbach's name was freely used Tho
directors Of the company are: Solomon Mehr-
bach. Moses Mehrbach Waldo Hutchings.
Thomas J. McCahill David Jones. Joseph
Richardson. Samuel wietts. James Everard,
]. 3. Fellows. and Messrs. Humphreyvlle Sny-
der. and Hamilton. The lnttcr lives In Pough-
keepsie. Mr. solomon Mehrbach was elected
President for the fifth time about month ago.
almost unanimously. Tho irrcgu arities al
legged to nave been committed must have been,
therefore. recently discovered.
- Mr.. Joseph Richardson, cx-President OF the
Hannibal and st. Joseph Rarond. said yester-
day: " | am one of the Oldest directors Of tho
Second Avenue Railroad. and was opposed TO the
election Of Mr.. Mehrbnch to succeed Mr.. Julian
have h."n ngreenbly disappointed In the result
OF Mr. Mehrbach s adm ministratlon. He has dcvot-
many useless employees. This may have made
him some enemies. About two years ago the
company decided TO abolish the old stables ut
SiXty-third street. Nncty-flrst street. and 127th
street, and keep the stock under one roof:
plot of ffty-four lots between First and
Second avenues and Ninety xth and Ninety
The company, c99trocted VITA ,Mclniyre. +
Their sureties were Mr.. j. y. Smith and u
Mr.. Ripley. The McIntyrcs failed to finish
the building, and the company had ~ take
charge OF II. the extra cost heing $lOO0OO
Now the question is to adjust the difference be-
tween the contract and the amount actually ex-
pended. The company still holds all the old
property for sale, and II will bring more than
the Difference. There is n mortgage on the new
stable Of 100000 but MS tho company earns two
per cent quarterly it is safe to say that the liza
.Reporter-How about the charges against Mr..
Mehrbach?
Mr. Rchardson-There were eight directors
opposed to him. and ] suppose the reason was
that some one wanted TO be- President and draw
10000 a year. Mr.. Willets Mr.. David Jones.
and myself opposed the acceptance OF his resig-
nation. but the vote at the meeting was seven to
Reporter-what were the charges against Mr..
Mehrbnch?
Mr.. Richardson,-something was said about
seven 81 900 bonds Of the company that were
missing and Mr.. Mehrbach said they should
Mr.. William s. Thorn. Treasurer and Score
tarv. said that Mr.. Mehrbach resigned volun-
tarily because of the pressure of his own
business.
Mr.. Solomon Mehrbach denied that ANYTHING
Ind been said at the meeting about seven bonds.
and also that he had been requested to resign.
He had large quantity OF real estate and was
about to build forty-two houses. He did not
want the office this year nor last. and had re-
signed because he could not devote enough
-" How about those seven missing bonds ?"
the reporter asked
I'll tell you. That's purely personal mat
ter. and is nobody's business. | tell you. but
not for publication. that lent seven bonds to u
director Of the company who wanted 10 raise
money TO pay up his subscriptions on other
bonds. | told HIM that II he did not make good
Iwould haveto That's all there is 10 that"
Before bidding the reporter good night Mr..
Mehrbach again reminded the reporter that his
remarks relative 10 the loan Of bonds were not
for publication. MIR. Mehrhach also said that
Mr.. Richardson wants 20 be President Mr..
Mehrbach was an ant-Tammany politician and
elected in 1871.
Mr.. Jas. 4. McCahll. President pro tenn. has
sent to The Sun denial OF any Irregularities
in Mr.. Mehrbach's administration. adding that
his retirement was due to II pressure Of private
business.