New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-12-21
THE COURTS.
THE ERIE RAILWAY LITIGATION.

MP. pANsPy's CLAIMS AGAINST ERIE.
In the suit commenced by Mr. Ramsey
against Messrs Fisk Gould Lane, aud Others III Wich
these gentlemen we're suspended an er pare oruer
the suspended gentlemen insisted that DR. haSoy ""u
10 claims against the road except Tor inc oiu"'''y
bonded debt and therefore had no standing i'll coui"
This point being vital to the suit tender was naue
Mr. Ramsey by the counsel for the Erie RailWay' un"
was refused subsequently the defendants applied Tor
an order n take Mr.. Ramseys testimony. when was
granted and the case was sent to referee VII" 'Ho
MI Jaseuh H. Ramsey being sworn. said did not
s:rn or swear TO affidavit verifying the Compliant ~
this case; had read the affidavit or heard u ra, VI ny
clam for money against the Erie Railway company
some portion connected with the preferred stoCk ne
by me and upon the securities; have no daia herg ~
fafe precise amount have Buffalo Branch OF tho EIlo
Railway Company bonds am also owner OF Hlth i ia
gage bonds aud some OF the common stock saw nese
This suit at the Office Of Mr. Eaton, one OF me attorneys
deposited them with Groesbeck 90 tn9 Sa prc cn' >
sterling and fifth mortgage bonds ana 10 shares ~
common and of preferred stock enSSo hr oo
market price Mt the time for the STOCKS ana noUuo
purchased borrowed 100000 from Groe5Deck * Oo;
for which they were secured by stock OF the Albany h
they hold over 1000 shares OF Albany and susqueha
stock; between 200 and lsOO OF those shafrs staI
my name on books 0 the Company; the company mu
received ms far know 100 cents cash Tor every o
OF stock except portion Of 1t mat was issued 10 T
forfeited to the of the Company upon which ~ r.
cent had been paid and subsequently sot ~
them for q cents the dollar in connection WIN lu
of money made by Thompson, GroesDeck ana OtheIs
Company; that the transaction the Company wac penr
fitted 10 an amount fully equal 10 making me slOch pau
told David GrOcsbeCk that proposed 10 OTnE an
to compel defendants To- account Tor Olncih nHeonuuv
i'm the management and disposition of the FUNDS anu
property Of the Erie Railway Company that DeicN cti
that they grossly mismanaged tho AFFAIRS on dno UU
in the objects Of the SUIT We talked OF moNtmtns
among foreign stockholders ana Doth agdcTu ao -, an
kinds Of railway property, not only bringing tner owl
securities into dlSrepute, but the s9ouilties an,
OF individuals. as well MS the reputalion
of the State and nation, required ths We
should be an investigation into their conduct; Mr.
Groesbeck declined To take any part III the llIEo D
consented TO act as receiver IN case no oner ter
were foreign stockholders who desired as hhueIsoo;
the commencement Of suit at the time purcnase9
the sterling bonds IL was fully determined whether
would commence suit, or some one OF the lOIclg
holders: believed that the managers of the Erie Ra'
way had used the money Of the road 10 purchase inc
stock W the Albany aud Susquehanna RarOad company
Tor the nurnnse of obtaining control Of IT, and that IL was
the duty of some 10 have the affairs OF the Ere COM
pany investigated. and to have tue WiohEloeIs
10 Justice TINS was my Object u, p raay ' rorrird
and paid is dividends on its Preferred STOCK ahu ha
also dividends on it, Common stock; cannot yen
me; my impression Is that there Il interest overdue
that IT, that appears TO be paid no dividends have
been maid ON HE stock since purchased ~ have never
demanded payment OF either interest or dividend from
lie Company and the Company have never rendered me
any money TO pay of the claims l have against l AT
Rochester, was called upon Anew days ago, unG thc
trial Of the Albany and Susqueanna Railroad case by
man whom did not know, in presence Of Mr. Harris
Hamilton Harris, Judge Allen, aud Mr. Hale was IN
quired OF az To my interest III tins slt referred MN
10 the complaint and stated that had not the dath 70
make up the particular amount; he then sad, nave
$1,000" having IN his hands some money " thht tcnuei
| YOU" aud 1 think heard him say, " Here's SlO'OO
declined TO receive the money; upon reflection re-
member that Dudley Field was also there ana hhd the
money In his hands the man whom did not know deiN
cred the money to Dudley Field ana ne stated 10 nc
have said connection with this tender Understood
that Mr. Field and Mr. Sherman were attorneys Tor the
Erie Company upon this examination MT sheaiina a
rendered To what no said to be sos; refused ~ hr
offered to then 10 pay any amount whatever Whch
| v Guild state 10 be due mo from the Ere
| Company exhibiting at the same Time AL
amount of money which did not count. / reiused To
accept offer All the tenders that nave mentioned
took place after the commencement Of this suit There
are large number Of stock aud bond holders OF the Com
pany who have indicated 10 me desire 10 become q
party with and TO aid In the prosecution OF TINS SUIT
Yesterday received letter from gentleman IN Mon
trca naming himself and several Others owners OF the
Erie Railway stock In That city, who desired the SUIT u
be prosecuted and who are willing to cooperate Win me