New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-21

trol OF the stock ia held by the Louisville and
proceeds OF $1,000 900 bonds issued by the bridge com
pany The Louisville and Nashville negotiated thls
directly All Of the has been suDscriDed ioi III
only 100000 has been paid In by subscribers. LHis
money, of course came into the treasury OF the d
VILE and Nashville. which Is building the Drldge nm l
makes advances for the work uE 1t has received an tHs
money bridge bonds This money togeShet w
other ca sh in treasury OF the Louisville and
was used by Mr.. Baldwin in his stock transaction ne
bought the companys stock and had 10 sen ~ Sa az
loss and the loss was 100000 which MI BALDWIN nss
made up or course it unawfu transaction anu
tine directors could not sanction It, But tneie Is 40
facaOn and none OF the securities heid Dy the 81
have been used except in legitimate ARRANGEMENTS ioa
borrowing money its needs required All Oh tho p""
are intact and the floating debt is properly secured
don't believe any other of the directors KIN ew OF the us
which Mr. Baldwin made OF the company lul , M, IN
think his operation was connected witi 'c Jun p'''
Mr.. Baldwin asked he had read the aegai lions
concerning his action with reference to obtaining loans
and hyp0hecating securities belonging 10 tue roao liz
replied $500. ..,.., -, ,,,b r.. The allie
cations The matter Just told You yeste! anu
confirmed by the directors whom you saw iast eve, s
after the adjournment OF the meeting bold mt my mousse
Then there Is no truth in the charge that you nave
used the Henderson Bridge bonds and other securities
the railroad company procure loans FOR yourself anu
that there is consequently Loayy dealcation T. . ,.
None As have previously stated t nougnii the
10 uphold the credit of the company by suslilis ~,
price OF the stock aid this in the interest Of the com
pany and think should be considered INC d no
d not with and the difference S2ooooo was
made good by me. That IS all there is TO IT, ,oduct
" Have You any idea of reSgnins from inc Aq''o"''
Certainly not why should II I have done nothing
which should ncapacitate from serving on thaI Vi
any other board or commission" .,,,, g.,
director of the company said: There Is no tI ,
these stories OF a defalcatiOn IL was u quesuon W
financial Judgment on the part OF Mt Bald Mn ,t'rh
rcctors could not cOuntcnance his TRANSACTIONS
he claimed have acted for the best interest,". p ee
company. lie good the loss and that Is All 'neIe Is
it," -,
what is there in this Henderson Bridge bona Dusi-
ness I" . - ,.
"The Henderson Bridge and Railway Company was
organized bridge the Ohio River at henderson, hGu
lucky and build railroad ten miles 10 Evansville N
diana Bonds the amount Of $2,OO0,OOO we're Issueu
so with n bonus OF so per cent In stock Inc i5Ouls
Vile and Nashville Railroad Company took SoOo.VVo VI
the bonds paying therefor S3l9,5O7. The money wds
paid ont a. the work went These bonds nave Deen
hypothecated for loan to the company Iat Is 'he CA
panatOn OF that transaction" ,s.,- arnoo1
"What IL the Of the lOatng dent OF ne ran
company u has been declared TO be anywhere Hoih
S2.000.000 TO 20 100000" 100. hour
&" That do not care to say. This much can say, now
ever: That the finance committee has gone over INC
securities belonging to the railroad company examiner
them carefully and finds that ut the present arAe
values the securities owned by the ROAD ahd IL ~,
than sufficient to offset the hodIlus
debt"
Mayor Edison and Controller declined to express
any opinion as to whether Mr.. Baldwins action IN the
Louisville and Nashville matter would render III neSes
sary for him to tender his resignation - an NueuuC/
Commissioner for the that they were not Co$%r
SAINT with the details Of his transactions
william DOwd, president OF the Bank or North Amer
lea and fellow commissioner OF Mr. BALDWIN, smd that
he knew none OF the details OF Mr.. BaldWno ransacI
lions with the railroad company. lie had always iouhu
him In his Intercourse with him in the AqIedhct COLI
mission, honest and honorable gentleman.