New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-08-10
40 FOUNDATION IN FACT.


penses. and the other. auditors suspended ac-
count. special" which held the rebates.
Under the head OF Improvements. Mr.. Little
says:
The Of s4SO in the period under aas rom Ton
operating expenses to Improvements or capita;
h9se and 1TnS Which
represents the cost OF the road and property.
The report then states that under traffic am
agreement in November ls'o, running 10 cey,
tain other companies. these other companies were
charged with a balance OF $3o9,S4 ~ which 'i,r
Atchison was unable to collect ana wn'c n ~
absolutely uncollectable and should nave peen
heretofore written Off" and must now be written
to the debit OF profit and loss
TOTAL OF S.ial.5oo.
Mr. Little finds that the foregoing accounts foot
up 72s562O 81 for Atchison and s2O5S'9 ~ for ST.
Louis and San Francisco, total OF s"4si''Vo'
The whole Of this amount" he says, should
as / look al It. be written to the debit OF proh'
and oss except the Sl0l2,ltl % for Atcnison per
tanning - the fiscal year lS93-'94 which must go
against. in reduction OF, the income io' '"''
year 80, - ,ot
Having thus explained the nature OF the s74si'-
200 carried IN the income Of the two systems %
Juna 20 1894 the expert inquiries how the proper,
lion Of this amount for the three years ended
June 3d. 1898 treated In the repor, 0I w"
Achison Company for the fiscal year 1898. the
latest official issue AZ that date the amount ior
tho A,chison system was s6.213,479 40 and Tor the
II Louis and San Francisco system S"5''fio ~ " |
total Of s6sl0s97 60. The report says;
The analysis following reveals the accounts wne mere
w. &c ci0 az 50 was covered in the company OIL
ci,i balance sheet isuei to the stockholders:
ATCrIsoS SYSTEM.
Cash deposits stated o-csc-. w.
sh%iiI be ,'.,.............. 2la3i6l 10
over Statement, Of deposits .....'''.'.' sV-''-' %
Bills payable under stated sc COO o.o7,
ofncai report. page %.......'.' 90 no go =
Sh, uld b..
Under statement Of bills payable *'''oo'""
3% SSaPf f~psF'. SO is:s Gits 81
should ......-.....'...'''-' ''-'''I
.....,, 81, occ,,r,. receivable. Gao $40 80
Franchises and property 80, -, .os "a
orrl.l report, page .Sg3 g, ,H sS 90
Should c.............'''.''''''' 'i''''"
., npi ss ss sTs II, YSaG 3; sa II" 50
s,sG go 90 respectively.
...,,... sv.,,,, June 70 1891. ...s 027a 40 40
sT TnrIs AND sAM FRANCISCO SYSTEM
sundry accounts process Of oljnstmen, 'S'A'' :"
sgi7 gii is IN page ~ Of The official report
s. louis and San Francisco balance Sheet
Grand ,o,al both Systems June 30 1893 sG6ios9' ~
Mr. Little concludes follows
II only remains for to add on this phase OF the
subject that the $37.4is 20 pertaining to the 81;
ana san Franc ,s, T fTTaS ard Gy a
net debit balance OF Sa1istment under head OF
Deferred page y OF the oficld rsporr male ,G
ended
S' az number of accounts agsregating S6s3so y
on the debit side. and s-"o'So IS Oh '"e ''''''
side. thus. .,o 10, .,
t ,r"t 30 $50 70
~. ,o,,, .sai7oi4 As
There is stn another account or transfer IN
March. s2. OF s52s5 80 from earnngs n tbe pro
penses' to franchises and property win ' ti,pws
lrety of which do not agree IL reauS as los ~
ana pupors to be OF hG same GmsraT yz
rcscntng charges ana credits applying on business
prior to October s' in T ssrn"f a s and in in
tcr"st taxes and rental account. october lsSs to
NJ Mara" ass an2 urss mus ' be added S.
ri 800 which would augment me oyers'a'e'"e"'
II should be distinctly understood that the &C.
counts which refer IN the taDulaT mn rs
ownership As matter for your r inlornon in
tors suspended account. were not transferred
from the Western to the Eastern n T"oHs "n no
March and April. l%t-i mean the company = "0'
''i' reserve the right after my examination OF the
Eastern books to bring TO your attention whatever
additional Irregularities, II any. may ma there
THE EXPERT ACCOUNTANT
s,enhen Little. the expert accountant employed
hv tho committee IL about sixty years old,
and a native Of the North OF Ireland whence he
came 10 the United States in 1872 In 1891 ne De-
gan his railroad experience In the fehhsyNania
Railroad ticket office at Plttsonrg. In 1857 he
was appointel auditor OF the Northern Ceh'rai
pou,vay and continued In that service until 1879
Ito was auditor and controller OF the Erie Kaii-
wav for twelve years He then removed west
orj Tor several wears was connected with the
Pullman Palace Car Company, returning W
Nrw-York to accept the controlership OF the
Denver and Rio Grande halfway Co'"pa"s'
which position ne now holds 5000 ,,
As an expert accountant Mr.. Little examined
the books II the Ohio and Mississippi ROAD priol
In ia consolidation with the Baltimore ana ONO
a thIyp
n committee OF which William L. Bull ior'herlS
president of the New-York Stock EXCHANGE was
chairman Some OF his later work cohssteu ~
az Exhaustive examination OF the accounts OF
the Philadelphia and Reading Railroad system EN-
which was completed about SIX months aso ~ ~
+. ar nresent engaged In similar employment III
connection with the Northern faciIic raIw"!
inquiry and at the same time ne Is prspaiins a
report on the current and untunued uenl 81 o o
Nch,son for the year 1894 and the iihah~ai coh-
dition Of the company at the beginning OF me
fiscal year 1894; also upon me earning tnr tho dsca
Of the entire property OF the s'S''''' wv "
vear ending June 80 1874 ,,...
Early Yesterday the secretary or tne Iro.rc
tive REORGANIZATION Committee OF Atchlsol Sv..s
letter to Colonel John J. McCVuh I n, Trms,
to tho letter Of the committee to the mon I.us'
C,mpany. asking for the removal or Mr. heln
hart and Colonel McCook as receivers. Soom
Wc,,onk returned he letter with tne Ien'a'N
~. y, .as NOT satisfactory The following let
tnr was sent 10 him subsequently by lheooofe
w Myers I tho A,chlson Protective Reorganization
Committee No. v % lySTk Aug. Q. 1879.
John j. McCook. esq. No lS br3aiw aay,es, onpor-
tuny to both for or %ysI ana am 'C shaT
members Oh us not The purpose OF the letter ad
dressed by me- chairman to Edwap8 h aasa tS
f,h 80 70 reflect In any manner upon your cnaI
acter personally and If any Injustice mas yo 1se he re
ggpct both OF myself and the other members Oh 'ne
committee. 49,, u ,a or,Irelv satisfactory
"a assmrine Won OF my personal regard ! am very
anu assume, ,ri, 9 THEODORE W. MYERS.
resprct"'s ''' Chairman.
NEWS TO PRESIDENT JEFFERY
, nan MOTT HEARD OF HIS SELECTION TO Sue
cEED PRESIDENT REINIIART.
4, Ia understood here