New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-03-02

tho road with which the CARROTS were associated
FOR so long we're favorte topics Of discussion In
financial circles yesterday. The slump OF the STOCK
in the Street the rumors concerning the road ana
the intlmation that the road would pass into the
hands OF a receiver rad prepared the public 70
certain extent, for the move. Little Information
In addition that contained In the announcemene
OF the receivers could be obtained In the city John
X. Cowen. the recently elected president Of the
road. and Oscar q. Murray will act jointly as re-
ceivers IN managing the road.
The impression that seemed to prevail In hnanc'a1
circles was that the affairs Of the road were In
worse shape than President Cowen has been willing
to admit. II is known that II was the desire OF
the members OF the New-York and London synd.-
cate which recently secured control OF the road. to
work out a reorganization plan without resortng
to the appointment OF receivers but the tangled
condition OF the roads affairs made this practt
cally impossible. The syndicate is represented In
the Board Of Directors by Louis Fitzgerald. presi-
dent Of the Mercantile Trust Company; Eugene
LELAND OF Brown Brothers: William A. Read. Of
vermllye & Co.. and Rowland Davis. OF Blake
Brothers 4 Co. All OF these men were unwilling
to speak OF the condition OF the company yester.
day.
When President Mayer resigned last year. afser
the syndicate secured control Of the road. John IL.
Cowen called to be president and oscar -.
Murray. who had a record as practicai rdi'oao
man. having been second vice-president OF the 1873
the utmost confidence in these officials ana WI"
cooperate with them SO II is said. in "orNihs on.
a plan for placing the railroad on hrm nhahe'a'
basis.
What a great many people would like to Know
and what the directors yet are unprepared 70
,r.x. known IA the finding OF Mr. Little, the exc
nerf who examined the books OF the company.
PRECEDENT Governs statement concerning this exc
amination is reassuring. but does not give detai.
There were many rumors afoat yesterday regarolh6
this nnding OF MIR Little. 1t was said that the &C.
cnnts showed the floating Indebtedness TO De nearer
sis oOo O01 than S. O00o 1t was further reported
,,hat the controller had not signed the reports
made I'M under the direction OF exPresident Mayer
I'D this was cited as significant
Judge Nathan Cor and Mr Cowen have both
been in the city frequently OF late and In confer
ence with the Board Of Directors OF the road MT:
Cowen only a few days ago In an interview was
reported as saying that money had been raised 70
nav the interest due on coupons to-day This was
apDarently premature but II Is understood that az
the time OF the statement the officers OF the com.
pany believed that they could raise the money
needed-something like 500 00O but later complies
t!ons followed and II deemed advisable to
bring the matter into court Accordingly, friendly
suit for the appointment Of receivers followed.
Neither the officers of the company nor any OF the
members OF the Board OF Directors could be found
yesterday to talk about the plan Of rehabilitation:
but It Is understood that after further conferences
a plan will be outlined.