New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-08-10
WE'RE ACCOUNTS JUGGLED.
Continued from First Page.

Ing the .ast four years been oversiatel to the tx,
tent OF about $4,000 The earnings OF the system
for the perioi named amount to about sl@.0oC@
There IS no charge that the uisDurs nle".s nv
been overstatel. that any dividends or other
payments have been made on the pass OF the
a..eged over-statement OF earnings ana as thay are
period named you must assume that there Is an
entire Jack OF motive for wrongful statement 10
have stated the earnings at .css ;han the aetna.
figures you'd have been great injustice TO the
security and particularly to the income BOND
In the short hours a::owed me | have found 70
difficulty in pointing out some Of Inc srr ,or c az
earnings Of the Atchson system. deducted from lts
Louis AMI san Francisco Railway Company OF 1857.
as shown In the annual reports and properly to be
credited the 81. Louis and san Francisco t'al.-
way Company tota;:y ignored; and ye, a., the
Topeka and Santa Fe Railroad Company ana Ger,
paid large sum FOR the stock Of the FORMER COM
pany entitled to statement o. ,S Sp cen NM
In other words Mr.. Lite Ignores silcVo OF acSua!
earnings Of the Atchison Railroad ana gives mem
pace in his statement Of the earnings oil the
l aso find that Mr.. Lite refuses to include a
balance OF $ij7 ?39 nited States currency SUBSIDY
Hallway (one OF the Atchison auxiliary companies)
which is an undispued CAIN recognized by the
a.se that OF $50 ooo G9 }r ear Te
iasi week in Zach month. has been ignored by MIR.
Lite Notwithstanding the fact that such item Was
createl by change from "iorwariel pasi5 vt
freight accounting 10 'r"ceivrd ras,; ana -
accordance
cognzel methods OF revenue accounting DF QUIET
railroads OF extensive mileage. .
looked or refused % recognize 2232cco of n;erest
earned from January l. 1890 to Dec mD'r ~ ssS
made hy the Atchson and San Francisco companies
to the Atlantic AMI Pacific Kai.rond nonpahy,
companies. and which. In adjustment OF IN" &c
counts Of the three companies named must D"
treated as an asset 81 the Atchison ana san iran
cisco companies. beonsnr to their inc2me accoIn,,
Stn further DO IND that Mr.. IAttl" mas not In
-frtf fnF rot
pany upon its investment in ierm,a4i broprL,tiins ~
arrreratn Of 81 S51s 81 which Nir .,tlc also Re-.
fers to- proper debts To the fraichlS anu
SEN, expeniiturcs mad out OF the revenue Of the
reorgan ized company subsequent to pctoDer l.
propertv prior to th. date OF reorganization. ana
should have been cared for under tn" forty-tWo
mortgages represented under the old company. m
stead of the two mortgages OF the r"orsanlze
company. This assc! was "sci 70 oliS, .ma
and as Sir Lite himself has stated In his rriprt
in the end. the effect on tn" incom" account VIII
Thn iicm- have mentioned more than cover tn.
alleged oyers,atem"nt 81 income ior ~" P'Iy ia ~
Mr. Iittlc's examination by about &'h't nav"
not tim" In the limited l"riol ao"' nrhrtoo,i1,
into further details To be strictly or W
accurate l. too. would hav" To- 40 "hat MI. t'.tu'
has Ione-,akc the books and the accounting forces
or the system AMI spend ronsiIerab' TIME !" 'N'
Mr Little thinks thl hundreds Of hoGs3nds Of
,h,ni1 ,hy are lie thinks that Nloooo deducted
from Aichison earning ana sven uhI"I V"n''t.'
inrs think they are Iic thinks N,y""" ot profits
/ ON inyretm.n's Is not income, mink " IS
/ rcpe,i that the above TENS ar su'h'l', - ac.
count FOR the alleged ov"rs'a'"m ~ ana sJ"W'
more their total being over "'po"l ana iuly JUS
,lnes every statement the company mas maze, &c.,
Wr Titile states that Ia" 9th day Of June.
iSlq M. company IA no. have on hlnl me amount
vbnt b.nring this statement has upon the matters
vhirh Mr. Little was called upon to examine In re-
l,,lon 10 the proposed reorganization or the com,
/ rnnv vet desire 20 stat" most emphatcally TIM,
or The date referred to the company actually ha,i
/ ash Oh
d" ''' ''''' J. W REMNANT.