New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-05-16
THIRD CALL-2:3O O'CLOCK p. VI.
THURSDAY. May 15-P. N.

A reouest Is made for an explanation of SEEM
ING inconsistency in THE TRIBUNE's statement con-
corning the late report of the Delaware and Hudson
Company. 1t is suggested that the comparison OF
the balance sheets of 1877 and 1878 was incorrect,
because the profit and loss account for the year
shows q loss of only $57, 591" while our COM
narison of assets and liabilities shows loss OK
S4s7 424-liabihties increased $S95,715, less an
increase in assets of $i0S,29l."
First orr comparison of figures as published in
the reports of the company for the years 1877 and
1873 is correct. Second the president of the COM
many in his remarks says: "The debit TO general
nrot and loss account has been increased by losses
and sbrinkage." Third, profit and loss sccountis
an arbitrary account that may be made up by ln-
cludiug anticipated profits by emitting charges
hv a nostponement of them to another year, while
tho balance sheet except for erroneous valuations
of assets must show the true condition OK
the company. The question whether the Losses
and sbrinkagesn referred TO were properly
cbarpeable or not to the profits and
losses of the year does not affect the condition or
the company. They were losses, and do appear IN
the shape of decreased assets or increased Liabilities
An ANALYSIS of the comparative assets OF ISL ana
1873 shows that the decrease OF S|Z9,3Zo IN
what we lumped together as miscellaneous assets
was made up by the following: lhe entire dlsap-
pearance from the report of 1878 OF S3O0OOo bonds
Re Tho Rhue6eck and Connecticut Railroad Com.
many decrease of SIS, 900 in the amount held OK
albany and SusQuehanna Railroad bonds; OF $ll,-
900 in the amount het SI 5e copm T|
Hills and accounts receivable; also reduction
Of S53,847 in the. value of Sl,2o42GS
Pos+a1n Hartford and Erie bonds because OF the
anpIcation TO the sinking fund, which consists OF
credit to the principal OF certain proportion o.
fine annual interest received IRON the ETC d IoI.
pany as guaIantor lhls total Oh 100 20 for
crease is reduced by an increase OF T3Z9,o.9 ZOE
laundry stocks and accounts" that are not emu
merated in the cOmpany's report Aten'ion -
directed also to requc1lpn an 0i i'm that nav OF
may not have appeared in the profit ana loss acc
connt for 1873 In the plant other than rear estato
| S134 8O3 was charged of. he reduction nahet
together with other minor changes an01'ing ,be
~ 300 make total reduction of 81, 90 OOl IN tha
company's reported assets. 10, ;1,1o,
On the other hand the real estate, winch lncluues
ts coal lands is inventoried at an advance OF sZV
| e71 although during the year 2.lOo,oOO tons ~
coal were taken out of IT. and Tor the portion TIA TIA
coal on hand about l770O0 tons more thar AZ lhs
! beginning of the year. was valued NJ Fooi;rrh
more than the quantity on hahd y9ir aEo mora
| of the nature of an annual hrst chaIE
Than of an asset, were increased 5000" anu tuo
advances 10 leased lines, another h on
were increased S53, GAG and finally the cash Oh
| hand was increased 1865, $685. fact that Is eAs
nianed by the smaller amount tSoSO,Z04l nelu %
hills and accounts receivable. as well as bS 'he -.
crease cf $s95,715 in liabilities turning 70 No
| liabilities the funded debt was increased @-iipt
| 900 against a reduction OF the true hoathg
| ioon Of IsSO-of only $685., 800 The other prlhvf
pal change in Liabilities, that reduces aceSc sne sI
| crease IN liabilities from the difference ;oWSej
| So3 SooI petween the two items mentloneu.
is the entire omission of the item dsS His
| accountp that III 1877 amounted 10 Sf-o'op-' ~
i; an item flat has always appeared IN the preseuns
reports OF this company, as well as IN those Oh Dst
| otber companies and is one that seemingly NUS
always exist on December 81, for pay-rolis'
etc We have been thus particular IN eApa'pns Use
6,,res moi only to satisfy Inquirer. out DeCa
thecouparativey full publication that mn At
',ay,e IN the report seemed TO produce results I
cav 70 With those shown by other partial publ
cstons of the report. and this variance has eau''N
The total transactions in stock to-day ainoun ns.
,o 23O 600 sares, 10 900 shares less than we ,a-
rs of Yesterday But in the early trading ' @s-
araI market In its buoyancy exceeded that "a 6rst
terday, and was even more gn,icS the greatest
ppnonnt OF business for the day were az na;c e
n material advance from inc s,VS,Is 70 be the
Sl Ola S W he day This was the case with ShSaso
and Northwest, Northwest preierrea a,d p Hudson,
lake shore, and Morris aud Essex The STOCKS 'H"'