The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1845-06-14

lures equally exravagant would not be again made
There has been great change made in the charter
the company and the stockholders have Il in their power
all the benefits extended by the Legislature
but with change nsthe course to be pursued there
must be change in MIR. Lord cannot carry out
the necessary measures to ensure the completion of tins
great work; his ideas much contracted for so
magnificent an enterprise; his principal object appears
10 DC 10 buid up Peont at the expense of all other
parts Of the work The old stockholders of the company
have dearly tested Mr. Lords ability manage such
work. and in the face of the many abuses pracsed under
his administration it is surprising he holds on to his po
sition.
There circumstances connected with the position
this gentleman occupies in this company which makes
his retention in office still more mysterious When eff
iorts were being made in the Legislature the
passage OF the bill releasing the road from the State loan
Of s3ooO0O0 upon certain conditions the friends Of the
bill plainly stated to the company that it would be i'm
possible to get the bill through unless some assn rance
was given that the management of the road should be
placed in different hands from those control when the
exravagant expenditure and waste of the loan about
being released, was made. Assurances were given by
Mr. Lord himself that he would Immediately after the
passage OF the BILL resign and his influence in pr
vae position to advance every way his power the in
terests of the company Six weeks have elapsed since
the new bill became law and nearly three weeks
since the opening of the books for to the
new stock, and still find Mr. Lord filling the office of
president and the books of the company showing sub
scrption OF less than hundred shares out Of fifteen
thousand Mr. Lord must be aware Of the strong preu
dice existing against him president of the Erie Rail-
road Company and Of the effect of this prejudice on the
success OF the road and knowing the distractions he
places in the way of the speedy completion of tina road
it does not become whose character as private
citizen stands SO high his to continue his connection
with company, the success of which depends SO much
upon his resignation. 1t is exceedingly unfortunate for
Mr. Lord that his name is mixed up with the former
management Of this railroad the immense losses many
of capitalists and merchants experienced at that
mc must for prejudice them against those having
the control Of the work in its earlier stages There are
manygood and able willing expend their besener
ges to the completion of this great work. and the
public voice requires immediate change in the pre-
sidency Where there many capable men we
do not wish TO distinguish any by name satisfied that the
Importance OF the subject and the necessity good
lection will influence those interested sufficient to ensure
Judicious choice In relation to Mr. Lord personally
we believe him to be high.minded and honorable man.
but the of the Erie Railroad demands his imme
date resignation of the presidency of the company
The monthly reports of the banks of New Orleans
show but trifing variation in the aggregate movement
We annex the returns for four periods:-
BANKS NEW ORLEANS.