New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-04-22
BALTIMORE AND OHIO AFFAIRS.


SENSATIONAL RuMoRs ABOUT THE FORMER
MANAGEMENT DENIED
Baltimore. April 2l-Receiver Murray. of the Bal
timore and Ohio Railroad Company, does not credit
the statement published in New-York this morning
that there has been dishonesty In the handling Of
Baltimore and Ohio funds. That there has been
misrna engagement Mr.. Murray believes. and expert
accountants are now employed in learning just
wherein the losses which led up to a receivership
were made. If there has been $3.OOo0OO, or any
other sum. taken from the company without any
value being received therefor" said Mr. Murray
ut Is unknown TO me- do not believe IT, nor do
believe any important records belonging to the
company and showing its transactions In past years
are missing On the contrary. from all I have
learned of the matter In my brief connection with
the road. am Of the belief that there is room for
no stronger charge than that of mismanagement"
The local Reorganization Committee is now await
left by those In whose stewardship the property
WAS iron iSSS to l No plan OF reorganization will
Major Alexander Shaw. member OF the Balti-
York publications were highly sensational and that
no shortage had been discovered When we in
ay nH ,, ne SAID there Is no telling what
ing found savorng of dishonesty
General Louis Fitzgerald. chairman of the Re-
organization Committee Of the Baltimore and Ohio
railroad. was asked yesterday II ne had seen the
report OF Major Alexander shaw's committee IN Pal,
umore' and whether he had also been Informed OF
the report that large amount OF securities Of the
baltimore and Ohio Railroad Company had dsap-
peared and no account therefor had been rendered
General Fitzgerald replied: II do not believe the
public correctly understand the situation as 70 tho
baltimore and Ohio Company and what Is being done
10 readJust It's aHars Previous to the receivership
inc company had beer negotiating for a large sum
oil money for the purpose of retiring its floating
debt and acquiring new capital for its needs The
Cd
directors in this matter was by Major Shaw who
lor long time had been chairman Of the Finance
committee OF the road and had been closely idcnt
NED with the late president In It's management A
presentation was made by Major Shaw of the ac-
counts OF the company. which never In any way
disclosed such a condition as IL now indicated hv
the report from Baltimore
After the appointment Of receivers and the an
pointment OF the reorganization committee stephen
i LirtIe. me accountant, was instructed to make
from tba OF all the aars Of the company
Mayers administration in 1868 to the latest possible
ayd all Of the questions presented in the announce
rients of the Baltimore Committee are being thor
oughly and fully looked into by MI Little When
his report Is completed 1t will be presented to the
1T As proper. however, to state that so far there
mas been nothing disclosed that suggests there has
been loss or improper use OF any securities. The
the property. 81. its financial condition; g. It's
physical condition. The company has been placed
In the hands OF able and competent manage cement
and examinations are being made TO It's physical
ana financial condition AS soon as these examina-
lions are completed plan will be formulated for
treatment OF the problems that VIII be presented
I'm the mean time. the receivers have arranged
Condition ana are saroS pat IN oT
additional rolling stock. greatly needed by the com,
largely to the net earnings of the company The
Investigations made by the receivers to tho
lead TIE committee to believe that the earnings OF
the property can be largely increased and a plan