The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-10-16

dollars stands charged with about thirty nine millions.
There was certainly malice in this and there is no
evidence stating 1t that intended to cheat the
widows and orphansn out Of their stock the argus
asserts is not Ocear however, that the widows and
orphans have not cheated by somebody The inves
tgating COMMITTEE took their interest In charge, and
thew alone were possessed Of sufficient authority
tain whether their legal trustees the officers and di-
rectorsn whom the argus ranks "am,ng the best men
of the staten were really worthy of the position they
occupy.
What the public want is truth We want TO know
from the business capacity" of the management how Il
has to pass that the greatest thooughare IN the
United States-one which produces such immense re-
cepts-is still unable keep its works in repair and re-
turn to the stockholders half the amount which other
roads less advan,ageousy stu with vastly less ira
vel less freight less proportonate capital invested
trive to pay their stockholders We concede it to be
good argument in itself against the value Of the Contra
stock that other roads produce profits unless it is
made to appear that the former has expenditures
In the construction Of its works. running its cars, and
paying its favores in extravagant and unlawful way.
This Is precisely the point which the investigating
mtee undertook to clear up. Meantime persons inte
rested have right to be suspcious-a right which il
compound, springng from the naked fact that the
concern cost thirty nine million of dollars, when by any
fair means it should not have cost half that sum- that
the committee to investigate the subject sleeps upon it's
post and their organ nerposes the absurd defence only
that 1.-THE directors and officers rank in all the elements
of character and business capacity, among the first men
in the Staten
The truth is that the New York Central Railroad like
the Bank the United States and its endless branches
has become General Jackson called the monster, "a
political machine" Its innocent stockholders mere
convenences subsstipg public confidence, their
ent Of their great nancies 1t the nucleus Of po
tcal and financial ntrgues having their centre at Al
bany, and running through Michigan, Indiana Illinois,
and several other States 1t is worthy Of notice. in
nection with their financial capacity, that though
lest in the field through the whole West, and having
choice of routes the roads under their direction produce
less profits than any of the great works controlled by
Others We make warfare upon individuals but we can
avoid referring to subject in this connection to IL
usrae the frank and business capacity ofthe men whom
the Argus pompously parades before the public rs de-
fence against what believed to be the most arociou fraud
practced upon unsuspecting stockholders there
has been honest management, why do the committee
fail to repor2 the stockholders likely to be mis-
led by our statements why do not the committee come
TO their rescue2 II has had the amplest time to dis
charge its duties became the special trustees Of the
" widows and orphans" whom the Argus fears may be
induced to sacrifice their stock-perhaps, the same
widows and orphans who persisted that their interests i'm
the Bank of the United States then the sufferer from,
cruel rumora put aaoat by stock jobbng journals,
would be good in the end
Hsw long will it require the American people to learn
that politics is poor element to mix up with business
The New York Central Railroad had political origin. 1t
baptized in the muddy waters of our State politics;
its sponsors and godfather were politicians it has. been
reared under their guidance ndoctrinacd with their
morals, and its fruits may be gathered in the general
blight which rests upon all their abors The Argus,
which to their rescue has long been their special
organ. their political mouthpeceutters their views,
speaks their languages and when the sharp edge Of
private interests is cutting away the covering that hides
the hdeous Ct populations and frauds which fill
the inner temple Of the Central Railroad Company that
paIer thrusts forward the respondents among the
best men in the stae In to charges which they
cannot refute and which they dare not submit the
ordeal Of an honest investigating committee.