New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-21
MR.. BALDWINS RESIGNATION.
TIE COMPANY NOT TO LOSE ANYTHING.
ExPLANATIONs OF THE TRANSACTIONS - TALKS
WITH DIRECTORS AND OTHERS.

WITH DIRECTORS AND OTHERS.
The officers of the Louisville and Nashville
Railroad Company were preparing yesterday statement
OF it, affairs which probably will not he completed for
Monday by his personal check for 206O is all that has
been suffered at present In his official attempts as ptes-
dent OF the company to support the stock III the open
market II is said high authority that the whole loss
from Mr. Ba!dwin's operations IN the companys behalf
will not exceed half million dollars under any crclm
stances The securities OF the company have been found
to be undlsturbed although Mr. Baldwin has used pro
with other money belonging to the company ID MS spec-
laive ventures 1t is stated that the present losses
from these transactions are covered Dy the payment
made by the eX-presdent.
former director OF the company said yesterday that
after careful inquiry into tine circumstances Of the
he was unable 10 discover how the railroad company
could lose anything by Mr.. Baidwins Transactions -
Mr.. Baldwin exceeded his authority" Thomas W.
Evans president Of the Wall Street Bank said but he
Is far from being ruined man and as understand IL he
paid every possible liability To the company under this
resolution he will worth several hundred thousand
will sustain no loss
some OF Mr. Buldwlns friends said that the protested
sumcd Is understood that one member the board
the meeting on Monday expressed Willingness to con-
tribute his part of the LOSSES. lie erruled, how
ever, by the other directors who insisted the pres
All the prominent directors who have been active in
the ment, 1t was said, knew OF the presidents
cples IL Is incredible that like Green, Woodward
Williams and Ryan, who have intimate relations with tho
prr ident aud the company should not have known of
Mr. Badw- efforts To support the price OF the stock
one OF Ar. Baldwins friends said: Whether general
principles favor that conclusion not know from the
lips OF OF the directors that he fully cognLant OF
MI Baldwins stock transactions. He told me also that
the other active directors acquainted with the real
posltlon OF the cOmpany's affairs"
j. r. Rogers, the president OF the Louisville ana
Nashville was at the cOmp0ny's Office most Of the day
falnarizng himself it, affairs I'm view OF his ne
p0stion lie was for few minutes at his private
office IN Exchange pnco by TRIBUNE reporter. but he
declined 10 make any statement respecting the stories OF
MI Baldwns extensive operations in the company's
secuiltes. 1t would be improper for me TO speak IN
the matter" he said rs have just become the presi
dent | have gone in 10 protect the interests OF the
stockholders and will do 80 20 the best Of my ability.
have 10 reason uK that any securities Of the conf
pany have been msapplicd are missing and don't
know why that should be supposed"
f. d. Carley, Yice-prcsidcnt OF the Louisville and
Nashville Railroad said: Anything that Is stated IN
connection with Mr. Baldwin outside of the stock trans
action mentioned I'm TIE TRIBUNE this morning IA false.
There has been improper Use Of securities none OF
them are missing and not whore they should he
as collateral the loans OF the company There
has been loss outside OF Mr. Badwns stock operation
which he has protected"
Western director Of the company who did not wish
his name uscd said: There Is ground for the wild
ruors started to the hypohecai6n or disappearance
the securities OF the company through acts 81 Mr.
Baldwin. All there IL 10 the story Is that he Illegally
used the funds Of the company to support s stock IN The
market. The money was partly derived from the pro
ceeds Of the sale of the Henderson Bridge bonds. Th1
bridge owned BY separate organization. but ths CON