The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-04-18
his race, has no longer in England place to ill.
Disraeli has yet grand r6Ie before him, and
he is not the man to be wanting when occasion.
calls for him.


What the Erie War is About.
The ''Erie Railroad war;" as it is called, has
been so muddled up and befogged by injunc-
tons and counter injunctons, orders and coun-
ter orders, arrests, contempts, legislative
reports, bills, stockjobbing newspapers, igno-
rant Bohemians ofthe penny -a-lne order, cards,
statements, oaths, sermons and psalms, that it
is not matter of surprise if as in the Schles-
wig Holstein imbroglio, only very limited
number of persons understand exactly what it
is all about. Some suppose that the great
railroad king, Vanderbilt, holds vast number
of Erie shares, and is trembling in his boots
for fear the stock should 20 down and drive
him to sell all his fast horses, fine wines,
splendid pictures, household furniture and
wardrobe-except single suit and a change Of
linen-to enable him to meet his losses. Others
imagine that Daniel Drew has made heavy
draught upon Heaven, or some other place,
and is in mortal terror lest he should be unable
pile and save his soul. A few believe that
the New York Central monster hungers to take
Erie into its rapacious maw-to swallow it,
with its broad six feet track, its locomotives,
cars, depots, directors, bridges, bonds and
stocks, including the disputed ten million issue,
like an anaconda swallows sheep. And
again, others have the impression that Daniel,
as soon as he escapes from the lions den,
designs selling out the whole Erie concern,
including right of way, bed, track, rolling
fol or 70
widows and orphans, at low price, for cash,
and putting the proceeds into a magnificent
meeting house for the conversion of the souls
of bankers, stock brokers, Wall street jobbers
and railroad directors.
Yet, after all, the Erie war is much less in
comprehensive than Schleswig- Holstein. Lord
John Russell said of that mysterious affair
that there were only two men in the world who
ever understood himself and a German who
had explained it all to him; but the German
about it. We suspect that there are two
men who very thoroughly understand the
meaning of the Erie war; and that
neither of them is likely to allow the infor-
nation to escape his memory 1t is simply
struggle between two magnificent operators
for the next year or twos possession of a valu-
able piece of trading capitalize wit, the direc-
ton of the Erie Railway. With this in their
hands they can manipulate the stock to great
advantage. If Drew should be the successful
party his policy is known in advance. Such
energies as his religious duties permit him to
waste upon worldly affairs would be devoted
to making short sales, depressing the stock,
buying in at the lowest figures, and investing
the profits in the erection of churches. If
Vanderbilt should win his object would be to
raise the market value Of the stock, to keep
it out of the street. and, possibly, when it had
attained magnificent figure, to sell it out
after the fashion of Nicaraguan steamship
lines, pocket the princely proceeds, add an
other jewel to his kingly diadem and purchase
few more fast horses.
Bearing this object of the war in mind, it is
easy to understand the maneuvring of the
rival powers. Vanderbilt, by the aid of his
extensive capital, has been steadily buying up
Erie stock and collecting proxies, SO that at the
might outvote Drew and take control of the
road. Drew, finding the ground slipping from
under him, has issued ten millions of new stock
for the alleged purpose Of completing the six
feet track from Akron to Toledo which stock,
being held by himself and his friends, is
intended to vote the Drew ticket at the next
election of the company, to swamp Vanderbilt
and to continue in Office the present board of
directors. Vanderbilt is beaten if this stock
shall be permitted to vote. Drew is beaten If
this stock shall not be permitted to vote. Van
derblt has the best of the fight in the courts
thus far on this side of the Hudson river.
Drew has the advantage in his Jersey
fortress, where, under the authority Of the law
passed by the New Jersey Legislature he may
call the next meeting Of directors at Fort Tay-
lor, appoint his own inspectors, allow the vote
of the ten million issue and declare himself and
his friends duly elected.
The stockhOlders-we mean the bona fde
stockholders, and not the kite flyers of Wall
street, who sell what they never possessed
and buy what they never receive-have an in
terest III Tic ah"ii, anu muss JuuSe 'or hcm-
selves in what direction it lies. At present
the calamity at Port Jervis will serve to I'M
pleasantly remind them, in the shape of heavy
damages to the friends of the forty or fifty
killed and the sixty or seventy wounded, that
stockjobbing management Of a road is not the
most profitable to those who buy its shares as
an honest investment They must decide
whether the depreciating policy of Drew or the
appreciating policy of Vanderbilt is the most
likely to raise the value of their property and
to put money in their pockets. The people
also have an interest in this fight. The man
gled bodies lying at the foot Of Carr's rock,
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