St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-08-10

(otherwise than franchises and prop-
erty), S4oS 600; auditors suspended ac-
count, special, S2.08S, ,666 81; auditors
suspended account, 81, ,791, 600; Southern
racine pool balance, S77,2l5.64. Total.
Atchison, $7.2S5. .620.51.
st. Louis IL Sar Francisco System-
AUDITORS suspended account, special.
Ssoo. o299. Grand total, both systems,
S7.49l, 500.
The term Income" l use in its broad
sense as covering all species Of income,
whether derived from Transportation OF
lreignt. passengers, mails, express,
rentals, subsidies. interest from invest
ments. and from ali other miscellaneous
sources. together with all proper charges
thereto, or every character, including
operating expenses, taxes, interest on
funded and unfunded debt, insurat ce,
etc, the balance, whichever way it falls.
Delng carried to debit or credit OF profit
and loss.
Havlng thus explained the nature of
S,49l,50O carried III the income of the
TWO systems to June 30, 1894,
1t Becomes Pertinent
now to inquire how the proportion of
TINS amount for the three years ended
June so, 1898. was treated in the report
or the Atchlson company for the fiscal
year 1893, the latest official issue.
AT that date the amount for the
Atchlson was Sc, 273. .479.49, and for the
81. Louis q San Francisco system $751;
4lS;2O, in all S6,6l0. S9769.
lhe analysis following reveals the
accounts where this $500, S97,6 80 was
covered in the company'S official balance
sheet issued to the stockholders.
st. Louis q San Francisco SYSTEM
Brought forward. Sc, 273, ,479.49; deferred,
sundry accounts in process of adjust.
ment, $685., ,4lS.20; (entering into the net
debt balance or $3l7, 7,91419 on page rs
the official reDort-St. Louis & San
francisco balance sheet; grand total
both systems, June 80, 1893, $780,
97,69.
1t only remains for me to add on this
phase of the subject that the $685., AIS. 20
pertaining to the st. Louis q San Fran
cisco system forms part of the net debit
balance of S317, ,9l4.46, entitled 'Sundry
accounts in process of adjustment;'
under head of deferred" on page rs of
the official report for fiscal year ended
June 80, 1893. This balance is made up
or number of accounts aggregating
S56S. .395.2l oil the debit side and $780,
4SO.7 on the credit account, thus:
Debit, 1868. 395.21 credit, $3.50, ,4S0. 70;
net debit, S317.914.4 45.
There is still another account of
transfer in March, 1892, of S152, ,591. .43
from earnings and expenses" to
franchises and property" with the
pr0prlety OF which do not agree. 1t
reads as follows. and purports to those
of the same character as the Sl,6I2.-
1lO.55 heretofore fully described, viz ::
Representing charges and credits ap-
plying on business prior to Oct. l, 1889,
IN earnings, and expense accounts,
March l, 1891, to March l, 1892, and in
terest, taxes and rental account Oct. l,
1889, TO March 81, 1892"
Unless this, too, can be supported by
facts and figures, it must be
Cash Deposits Overstated.
Official reports 1905, ,636.5O should be
S2, 493. l6l. 49, oyerStatement. S602, ,525. 40.
BlIis payable understated: Official
report, ST, 6,S09, 249 II. should d--be IS. .739.-
249.7l; underStatement of bills PAYABLE.
81 $50, S433. So,
Franchises and Property-Oficial re-
port, S93, 75l, 1850; should be SgI OBJ
3SS.O5; oyerstatement of franchises and
property, 81, 100, 110.55. which consists of
The Sl,6l2. l10.55 and S4SS, ,OO0, respective
ly. Total Atchison system June 80,
1893, S5,213. .479.49. This would augment
the overstatement of income for the
four years to S7.644, ,451.43
1t should be distinctly understood that
the accounts to which refer i'm the
tabulated statement for the time
ended June 80, 1894, antedate the re-
ceivership. As a matter for your infor-
nation, may add further that the bal
ances represented in s.auditor's sus-
pended account-Special" and "audi-
TORS suspended account"were moi trans
f.rred from the Western to the Eastern
books until March and April, 1894. l
mean the company's and not the re-
ceiver's books. | reserve the right
after my examination of the Eastern
books TO bring to your attention what
ever additional irregularities, if any,
may ind. Respectfully submitted.
STEPHEN LITTLE.