Year: 1875

A MYSTERY IN REFERENCE TO ITS RECEIPTS


AND DISBURSEMENTS


few months ago complaint made 10 Judge
Davis OF the Supreme Court by Mr. George K. Sistare
against the management OF the Beecker Street Horse
Car Railway. 1t stated that the road in very bad
condition, under the grossest mismanagement and
largely in debt to its employees Thirty other stock
and bond holders joined in these allegations


Mr. Slstare presented such startling evidence that
the Court determined TO thoroughly investigate the
affairs Of the company and accordingly appointed Mr.
Alvin 5. southworth receiver Mr.. Scuthworth at
once began thorough overhauling OF the books


AN AWFUL NEGLIGENCE.


HERALD reporter interviewed Mr. Southworth last
evening at No is Tenth avenue. when he said:-
There can be no doubt has for years been the
worst conducted horse railroad the CITY OF New
York The method pursued by the management in
ducng their pecunary affairs is incapable Of being
planned interpreted accounted for. The
managers offer us explanation whatever
OF the way in which the receipts have
been distributed Why sir when came
into the Office could find record or nothing The Office
did not contain even an invoice or letter book Upon
beginning our investigations we found that the road
running thirtytwo We found that the stables
contained los first class horses go second class and 20
that completely broken down ana disabled We
found tnas the receipts Of the road amounted
these receipts can be found anywhere
upon the books Instead OF this large revenue beng
aside a special trust fund 1t has some myste-
rious manner, been spirited away, TO the last penny


DEFRAUDISG THE CONDUCTORS.


"Nor is this all Despite the fact Of this large daily
income learn that not one driver or conductor
he road has received single cent OF his salary for
three weeks past


BOND AND STOCK HOLDERS BEPooLED


'I do wonder that the bond and stock holders Of
the road at last complained OF the repeated outrages
perpetraed against them by the management Latterly
for the money they invested in the road and for the
and attention they have devoted TO its
interests, they have received no return whatever.
For months and months past they have received
interest whatever upon their investments When they
demanded explanation from the management Of the
road they could secure When they asked what
had become of the daily receipts rendered by the
ductors they received reply and there no record
TO indicate how these thousands upon thousands OF
dollars, which the road has monthly netted have been
disbursed.


'swe are trying 10 sn the matter TO the bottom 70
ascertain where the money has gone and we shall not
hesitate to bring guilty parties to Justice provided such
found. We intend overhaulng the stables, improv
ing the rolling stock and increasing the number OF cars
from thrtytwo TO fifty. Over four-hths OF the stock
and bond holders OF the road support In projects
and hope In little while to pay of every dollar
to drivers and conductors and during the next
year pay handsome interest upon all Investments


THE HISTORY or TnB


The Bleecker street road was Instituted about four
teen years ago IL is generally regarded as the
'crookedest road In New York, and connects with
the most important and popular lines OF travel In the
city. 1t Broadway a central point and inter
sects all the principal avenues upon the west side
Besides this IL affords ready connection win
the west side ferries and all the west
side piers For months past everybody has been com
planning OF its poor accommodations Its cars are old
and rckety its horses Jaded and worm and us tracks
ID many sections rough ragged and uneven The pub.
lie have regarded the management as wealthy ana
graspng corporation Of shrewd mon, who, while they
rolled in opulence cared but little about the acconmo
dations they afforded the travelling public