The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-08-14

soration OF Fraudulent stock-Pr0prie-
hs--- :" Grand Juriss the suPsrva-
" Of GavinS - DC.
saon OF Railway Brsdgs-,-
RAILWAY MANAGEMENT.
EDITOR THE H<xAIn.
have been . constant reader Of Vie HuArr
ANY years past, and, in fact, wous
i.hout my coffee In the NOR Tor these
esh from your ONCE just IS soon 90
never faii'- log without my PPer
aht~-
~ read your articles upon reigoa, morals
-, commerce. manufactures, science, art, &c. ana,
although do not always endorse your Sentments, ye'
rannot help admirmg their holiness ard orgina"y' A
have never trouheH you with anything In the snpe
ink and paper hope you will MOI take II am& o"e'
Few Thoughts or rather fa,s, Upon subject which has 70
serain exses ensroesed the attention Of your Journal
alude to DE outrageous and miserable management '"
our raJcaS.a
10 the winds of the ignorant and uninated the horrible
znassacrS and wholesale slAughters (Which are nova
days Of frequent occurrence nothing more nor less
than accidents and are SET down as genera
No a ia Ali fudge nonsense and noonshne have been
engaged IN the business ior number yea
vh lie oets and venture tho assertion shat TINS con-
killing people spon our railroads does not arse 90
much from and greed OF cOrporAtors "a
from the false system upon which they base their manage
nept Nos, one wishes 70 become good prloeer,
U
he commences al the foundation apprentice. and
works Tor years, until practice ,kes him mss.er
psoIes iee sno practice are OF no esrtny
Whatever. Anybody or anything good enough man
sse rsiroad and tamper with the lives Of poodle no
emily enough be related TO the President, or
IAN claim Kin with director or prominent stocxnoder
Why, Mr. HxaID, At least twotnirds Of the roads 10
This blessed country, where life is cheap are msnssea ~
whose on,y Recommendation Tor 'he stations they
occupy, had been that they were connected oy
70 APRON, BANKRUPT merchants, clerks out or em
plcy, and ninnies Of almost every description nave
been pos,s OF IMPORTANCE and responsibility,
for which hey stted either by theory prAc
Gte Railroad management . system, an art scence
which can only be mastered by years OF p.nsn.
ana CONSTANT familiarity, and man might ss veil xttenpt
70 become astronomer or chemist without study, az
70 become competent rain DAD manager Without experi
Now, my dear Herald, il no surprsng thing 10
chat railway orpo1Noas bankrupt; excrtes
wonder in mind thss every few days score OF VA
Rvspectpg souls are launched into eternity. And why
SIMPLY because underetspd the gross ignorance, and
consequent naitenton 70 i'm ortant matters which cha
20 ne sears ago made tour through the
West, and while UPON my travels had an eye to every
gseed and must confess that was startled and dunno
founded ut the lavish waste reckless expenditure and
total absence Of anything ShSs looked like order and
system.
On roads the conductors making money
than the stockholders; others thousands Of dollars
worth Of propry was going to destrucncr for the want
Of proper attention. whiie others the kmd and amouo
a equipments far exceeded the Of those who had
been Dveiged into taking the Stock while almost every
where found men responsible sr1scous who werc
totally ignorant Of the very rudiments Of the business IN
Nov, II HERALD wishes to do good service TO the
travelling communky (snd beleveit does) lee begn
nMra OF the army of pumbskults who are running the
very given them place, by i'm oeciity
ignorance, b,s,des perpetraang gross and psipa ,e
wrong upon publ Let IL insist upon sound active
ana men assuming the dfectoo aud ce1trOl OF
eur RAILWAYS and we email soon have hesssny and
vigorous system ct work, waach ~n not only anord
sure protection To human le but will free rotteo con
cerns ON debt ana place money in the pockets Of m
pish obSc unalda 9 Tho ruvlfh
strong hand sod vigorous for 1t ia juet as Necessary
70 'he welfare Of the public the removal Of p,sgsres
ssd bne bosng Establishments Is 70 the heath Of your
Let stockholders ignorant uncouth uneducated
ocers managers who thoroughly understands their
business and are capsbic of attending 70 IN al it's
In short let the resolving salaries
for sending souls into eternity and property to destrac
whether former be brothers, uaces cousins
TINE TABLE
THE RAILROADS OF OUR COUNTRY.
HsaALD.
However dark hope may be the present OF the
railroads Of country, 10 financial point Of view,
there little 70 doubt but that they will have
better future The extent OF their prosperity the
future, however, must depend upon their Management.
during the present From the past we only turn
With shame and regret, and make its rascaties and
Eees eubservent 10 the welfare of tho Honor
should esisbhsh FOR these undertakings flirer fame
This however, 10 not to be done by robbng bondhodes
to pay stockholders, yet by swindlng the latter
the exclusive benefit of the former. As class, the
stockholders, perhaps, most to be piled They have
bern csoed by lying reports and false representations
invest their hard earnings In certificates calculated by
their amounts to attract mechanics and others humble
circumstances. Not only originally, but from time
TO time has this been done, and their In
ves,nents allowed to be made the footballs of gam
bles wi,hou, word of warning from those whose duty
was not TO foster depreciation but protect the stock
I'll life has become extinct as were, ard the pursuers
gro~n bold beyond all measure. NOT upon the RICH
upon the thriving does such fall but upon who
are comparatively helpless, and there thousands
10 the land WHO having oougut family inv estments
yet TO this the other sock spte Of it's gradual
"et down. till the recovered is not worthy
the eor or till present value has in it but future
hope The bondholders more Fortunate They, as q
general thing, amply secured, and the depreciation
with them has been smaller while the loss any, falls
upon shoulders able to bear it. But there hope for
the poor stockholders who have been grossly swnded
Money bias been obtained from them under false pretences
which thing could be easily proved, and re rel
hing IN wealth made 10 refund portion least their
entered into, and which like incubus on the stock
are not and never we're ba de or legal and reputation
spohtlbe participants might be forced dsgorge the pay
mehts already made upoer these contracts.
IL s Questionable indeed how far certain guaranteed or
preferred securities and some OF the recent mort
cages sno other liabilities of particular character can
legally stand in the o. the interests Of the common
etocR some OF these were assumed without pro,er
authority and others represent for q 1.-THE of
which only they were sod originally. Let the stocs hold
ers organize and appoint legal 10 take hese
matters to hand and the result will pay them They need
not seek TO recover any than their rights ought
not 10 be unjust 70 any, but they TO be
sqesmsh and should inst upon their rights 20 the ssi
dollar. No men have been treated and few have
sfarer claim 70 moderate interest their investments
whether made by original purchase legazed ira asler
Such movement, however, must be begun and carried
out with vgor and Independent Of those having con
e of
against many Of them idle these last named
have been deceived too; their expectations have not
been realized. That is impossible, least az regards
most and these should at branded for the ruin
tosy have brought upon thousands and the injury toey
have done their country and progress generally Mem
have been lynched for far less crimes and the lsx
rannot reach such mlscreans then vigilance co a ni,tee
ought AT any rate, men who would soorn TO commit a
forgery, rather would nit dare commit one ought
to be taught that III equally dshoooraole and Improper
and dangerous 10 aix their sgaatures 10 worthless
ceft Gates OF stock and connve defraudng the
by IeRaizng tranefers TIL stock lie xinad ont Innr