New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-08-11
TECTIvE COMMITTEE

,,,,on he was willing TO step aside. Mr. Rei,,-
,.r II Is understood. At the beginning Of tho
vask consulted some Of his close personal friend.
,s 70 the aivis7biN,y Of his resignation. IL
.r,ressei his consciousness of the fact that H.
Mad been under criticism. for long time. ana
saving ali discussion as 10 .he motives II oc
,unistion for the criticism. he declared that i,
,s friends decided that he was an obstacle {,
smelly restoration Of The company ne was ei-
tyely willing t. retire.
Asa result of these consultations an immednt"
resignation was decided upon.
THE LETTER SIGNED TUESDAY.
The letter of resignation was prepared o. Mon
s,y and signed by Nj Renhari on Tues Ny on
Wednesday morning il was forvarle. 70 the
hard Of directors of the company pro" to Nj.
ps,,bart's reception of the official report OF NJ.
Little that afternoon \ similar etto' was placed
:, the hands of Wheeler II. Peckhgm. counsel Of
the Union Trust Company. trusVe OF the con-
sojdated general mortgage to bepresented to the
eourt. as Of necessiiy. Mi ReirAarts retirement
rom all connection with the Atchison VIII IN
yolve his retirement from tn receivership the
hard Of directors II the Atchison have been
called to meet In this city 2, 10 o'clock this morn
INK The time when the resignation shall take
sHec, is lei. to the pleasure of the board
THE LETTER or RESIGNATION
The letter o. resignation Of Mr.. Re!nhart is as
blovs:
u tho Roar1 Of directors Of the Atchison, Topeka
and Santa r. Tailroad Company.
Gen,cmen: Hereby tender my resignation as
s,S,s Fa "ipia,rosl Companv and request that
yoU will forwsri copy OF THIS resignation 20 .ach
hs AUXILIARY companies composing the system.
al .ba
s,5 ,-'let S1~c,;5r Of each o: said companies.
The n -eni examination o. the accounts OF the
vmp,dy. undortaken with my hearty approval. has
alsd attention to certain metHods o; s'a'snrnt
yhgh have bea! the subject OF much aiNers"
xicism - far as | have seen no imputaucn mas
.sn made upon my personal integrity or any sus-
'1a rss.5n Sna5 Of the i.'G matters ;G's' cr'ics@d
Certain features OF M admin tratioa have how
si,ther rightly wrongly. am no longer IN full
aa,ony Win those interested in the property
v.sdency OF the company might De an obstacle in
Mvsy Of a speedy and succe sSful reorgan zation
vg IL efforts now being made which may be
na.s kreafter 10 put the property on sound
TnaT these circumstances it seems hardly fair
nai should continue to operate the property, even
vi e found to have been to the interest OF all.
wish 10 add. IN justice 10 myself, tha' am
$50 impellei TO take this cOurs. by the fact tn1'
NJ health mas for some time beer seriously i-}-
,sred and do not feel that. even under the most
hvo'ahle conditions ! ought longer to continue '"-
thanking the board for thr confidence reposed IN
49, '''''''' j. W. REINHART.
Il is matter Of pure conjecture as 10 who
viii be the successor Of Mr.. Reinhart as receiver.
Members Of the General Reorganization Conn
niiiee declined to discuss he subject YESTERDAY
and r. Soners Hayes he chairman. said tnat
The committee would take no steps toward maxi
,oo ig .pfif ire
In the Jurisdiction Of the court which originally
appointed the receivers. The appointing Juds-
Vas Henry c Caldwell OF the Eighth Distric:
United States Circuit Court. sitting at Little
Rock Ark The Union Trust Company as trus-
iss Of the bgndholders. will doubtless consult
With Judge caldwell N the subject. but IL Is
believed thar the Judge viii be extremely inde'
PENDENT in selecting the new receiver
THE VACANT PRESIDENCY.
II 10 not known with any certainty who the
directors may choose for the vacant presidency.
Nr Reinhart still has many friends in the board,
Ind 1t is not believed probable that any person
openly antagonstic to hi.n is likely to be elected
Is not thought that an immediate selection
WI be made. and the action Of the directors IN
S-cung a new president may De gcVerheu
sfiy by desire to unite In MIN also the rune
ions Of one Of the receivers and in that case the
news and purposes Of Judge Caldwell mus D
@nsusd
lhe disclosures f the expert report on htchi. IN
na Mr ktinnarts ply wer- srussec VIII d''-
nation In Wal. STREE AMI abroad circles NeSteI~
'.y' There was little dine c. f OPTION as 20 th'
'nee'iseness of Mr. Liitl|s showing ana 'he IL
ee-quacy OF Mr.. Remnants reply. The hieHnpeI9
u ne General Reorganization COMMITTEE a'e a.
one in holding the opinion that Atchison'S pres
ush' did not meet the expert accountant
ehaIges. and this view was duplicated among
most financial and railroad men. VI Kclnhar, :
he fllrd = hat he =
se's tnat the charges OF Over-statins inc lncv'i"
u Inc system by $7,j0OO0 were not true anu tm"'
nv would require time for examination u S
vi oi Mr. Lttle's statements. II WAS .io, aieuo
mat when ne was entirely free from conhection
WIN the company Mr. i.einhart would Dc dpie ~ =.
present more complete defence. Nj heliii"i
''mseh declined to discuss the subject fur'he''
Mr. LITrLEs REPORT
These views are not accepted by Wall Stree'
All whole. The report Of Mr.. Little is resarueu
MNncing proof that security-ho'deIs IL"
WI aeceyed for year with respect 70 thc co''-
1'''0n o. A,chison and that the accounts nav {
Wv" Improperly kept. Mr.. Re!nharts reply %
'esaraed as an evasion # the issue. M. Li'''e
says mat Mr.. Remnants alleged offsets are
c On the books Of the company and the item .,
hesI Which he includes among the oiS,r ,r,
mn. "o' been paid and cannot be collected: h
sss, serious point in Mr.. Little's report III Nv
sh,eH.auon tha, nearly $4,000 900 IN reba'eS -
nnnIs nnppefs were covered dp in the auditor SUI,
j. ine"aeo account special. ard improperly charee1
~. part 70 franchises and property. Here wa
,sL' sloo0,0O0 a year which should nave pee,
~n,, "en IRON operating expenses and. so reporteu
nau nu,u nave put an entirely different face upoi
~ ~, income OF the company as reported from tiin'
a'ne. This discovery W thout further explaha
n. M convicts the officers OF the Atchis"n Com
law "' VI "
r.
os ms feature Of the L.;,le revelations was dis
NJ Mssea somewhat i'm connection with the fact ina
Co. 80. nelnhart holds the position OF expert ac
,sh.ant under the Fede-Hl Government. IL wa
..u sneu whether a Government position could b'
"a Sa,ned by a man VINO was apparently guilty
a. noating one Of the statutes which the Gov
~sH'neht Is bound to enfOr =. II was wondered
r,netner President Cleveland would take cog
s'sahce OF such a situation and whether the AT
,'ney-General would net oe compelled 10 NOV
~ ,ne matter Of investigating the rebates anC
nnc.ing punishment. II Mr. Reinhar, is liable.
~" s said by Mr.. Reinlart's friends that whei
assumed the presidency OF the Atchson Com
sny IN March. 1893. h" stopped the system o
,,snlng rebates 10 shippers as fast as the con
lfs tnen existing could be abrogated. Blu
Il. nelnhart has been vice-Dresdent and genera