The advocate., 1891-02-04
sonal attendance hereP

A. None whatever, except what every
body else knows by general report
Q. BY paying money!
A. Only the general rumor everybody
hears.
Q. DO you consider him to be a lob
byisti
A. presume that term would cover
IT, (p $50 $685.
New York Assembly resolutions and
report OF its special committee concern
ing the management Of the Erie Railway
company.
ThefollowinR is the preamble and res
olutions adopted March II, 1873, by the
Assembly Of the state OF New York, ap-
pointing select committee as above
stated to investigate alleged mlsmanage-
ment on the part Of the Erie Railway
company, and under which said commit
tee acted. (see page 1, Assembly Doc.
No. SO, 1879:
Whereas, 10 is we'll known that q large
majority OF tho stock now outstanding
against the Erie Railway company was, by
corrupt collusion of its officers, frAudu-
lently issued and that there never was 20
per cent. on the par value OF such stock paid
into its treasury or expended by II ON its
property for the public welfare, owing TO
such corrupt action of its ofIioersj and
Whereas, The original purchasers Of said
stock did not pay more than the above
named amount for the same, thereby impli-
eating themselves with those who perpotu-
ated the fraud; and
Whereas, II has been made public that
the board Of directors Of that company have
declared dividend on tho entire amount Of
stock outstanding against II, which dividend
is limited only, in consequence of tho earn
ings OF its road and not in consideration of
the manner in which such stock was issued;
and
Whereas, The practical effect Of allowing
dividends TO be paid on such stock would bs
TO recognize and encourage fraud, 10 paral-
we the industries Of any innocent people
living tributary TO the road that company
represents, by imposing additional burdens
on them for los use; TO levy unjust and op-
pressiye burdens on the commerce Of the
city of New York, on whose commercial su
premacy the welfare of the state 20 largely
depends, to increase the cost Of living, by
increasing the cost of transporting the nee
essaries Of life between producers and con-
sumers, and finally, 10 enrich adventurous
gamblers and speoulators, as against good
morals, the welfare Of the people and pub
lie policy; and
Whereas, 10 is currently reported and
charged IN the public prints and elsewhere
that a. large and improper expenditure Of
money was made by the foreign stOCkhOld. |
ers Of the Erie Railway company in the
transfer Of the management Of that COM
pany in the year 1872; and chat by a corrupt
contract for the negotiation Of its bonds,
the agents of said foreign stockholders have
since been indirectly reimbursed out of the
treasury Of said company and that large
sum was used to influence legislation con-
nected with said road in tho same year; and
that other gross Irregularities ON the part of
said road and It's managers we're commit
ted. Now therefore,
Resolved, That the Attorney General of
The state be and he is hereby directed TO re-
port TO this House, within twenty days,
whether in his opinion the dividend % do
,larod upon the aforesaid fraudulently is-
'ued stock Of said company can be legally
paid out Of les treasury, and whether the
laid Erie Railway COMPANY mnu NOT ha IA