The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-08-09
THE SUSQUEHANNA RAILROAD WAR.


THE SUSQUEHANNA RAILROAD WAR.
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Origin Of the IubrosIio-The Coal I.scercsf the
Source OF saareemcat-lpjumcticns and
COwnfer 1njuneti0ns-
ALBANY. August 7, 1859.
The susquehanna Railroad war IL exciting
great deal OF feeling In this city, ana from the
care with which the aggressive party cover their
hand 1t would seem ttat both personal and business
spite enters into the contcat The patent facts reIat
Ing to che successful building ana the hitherto able
management or the road 80 clear a. TO be in the
common knowledge OF every Albanian. To Mr.. Ram
sey's industry, rare ability and persistent energy
alone Is owing the success OF the road. He worked
when all others had left the oars. lie
hoped when dismay flied the hearts OF
his colleagues with the certainty OF failure. When
veto after veto seemed to havesrea q precedent
against the possibility Of state aid that future
executive would dare ignore ar. Ramsey quietly
set himself to WORK and pledged his Individual for
tune aud that OF his friends who Dobly to hls
assistance. Year after year he strugg ed percept-
bly, aging under the intense strain 70 which he was
subjected until now, at the very moment OF his sue
cess the hand Is raised 10 strike him down. Well may
he cry out against the treachery Of his friends
and say, with the DE Medlci. "G0d deliver me from
my friends 1 will deliver myself from nay enemies"
Mr.. Ramsey Is bringing the same energy to this con-
test that 80 nobly made the subject of it success
and his opposers may well put forward their best
efforts and grid on armor for their nercest fray.
The most curious illustration OF the results OF our
modern judicio financial wars are cropping out in
this contest. Judge Barnard yesterday issued in
Junction restraining Ramsey from acting as presi-
dent Of tue road. This is scarcely served before
Judge Ciute Of Albany, an injunction restrain
Ing the vice president and certuin directors
from acting In their several official capacities
unmportant business and adjourn sine die. How
many more injunctions will follow is q mystery
yet. but II they continue as they have begun, and
with equal celebrity, this letter viii hardly be pub
lished when the humbest stOker will find the coal
he has been accustomed to handle with q vig0r de-
pendent upon his ambitious designs upon the pOss-
billty OF one day becoming full grown engineer
edged by an tne divinity OF wafns OF 1ne afst court
here.
CITY, the most probable Of which point TO the coal
interest as the source of the disagreement One OF
the chief why the people OF this city and VI
was the belief that coal could be brought 1t at
a rate OF toll that would perceptiDly reduce the
has been generally assumed that the lower portions
OF the city would be given up to vast depOts. IN
which large supplies of coal would he stored making
new branch OF industry for our people. 1t was fur.
Their stated that John A. GrlswOd and other moneyed
men OF the State had already arranged to open tine
ball. About the time that this rumOr was started 1t
was whispered tnat President Ramsey (who mad up
to that been considered as indvisbe from the
Susquehanna road as Vanderbilt Is now believed 10
be from the UentraD would he opposed at the next
vote for directors and that. in fact plan was al
ready on foot to divide his authority. 1t was stated
that the cities and towns along the route OF the road
which held bonds OF the company had been manlpu-
lated In the spring elections SO that the bonds could
These rnm0rs were thought little OF, and in fact,
were considered to be the wise uterances Of busy
bodies who knew just enough on which to hang their
marvellous tale. AS time went on, however, 1t
came to be known, as a matter OF fact, that fight
ton which might be built up in few years into
successful opposition. 1t was not Thought by any
1859. It seems. however. that the men who had
charge the interests Of the opposition mad abored
with great secrecy and proportionate Skill ana iopnd
rectors that 1t would be foolish to put OF to
another year what. by b ID effort, they hey
| struggle was at once organized with tins under.
standing the stock which, until this time OF the
opening OF the actual hostilities, had been held at
about fifty, rapidly In price until it reached par
and was actually sold at some two or three per cent
stion may be inferred from the fact that while for
stock held by the town Of Maryland the friends OF
Mr. Ramsey bid e,ght per cent premium i was sold
of ''the most perfect OF modern railroad rngs' is
| properly claimed by these malcontents There Is
one question That arises from the fact OF this
| secret negotiation that may initiate against the
opposition, and may force them to realize the truth
| OF the many old proverbs that inculcated in the
| minds OF the children OF the worlds wisdom the
fact That bird In the hand Is worth two IN the bus
Is, tnuJ WHICH Credteu tI5
and under which the towns were to assume II, it
was only 10 be transferred by the commissioners for
cash at par value. Mr.. Ramsey alleges that the
stock paid for in checks at par value, less the
amount 10 be paid the company as interest on the
bonds OF che towns, given to the company originally
for the stock. II this Is so, as the transfer books
close on the It'll OF August, should the question be
litigated it Will prevent any change OF officers this
year.
During the transfer OF the stock on Thursday one
Of the directors IN making payment presented draft
for 500 900 Jay Gould. The entrance OF this great
| railroad king IN potent ana persuasive manner
| had large effect, ana for the moment seemed very
the rest nowhere" Since then, however, purchases
| have been made for MI. Gould and the Erie road Is
recognized the active Interest In the opposition to
| Mr.. Ramsey. The friends Of the present manage
| ment claim that Mr.. Ramsey refused TO come to an
| arrangement with Mr.. Gould. by which there was no
! from the mines of company with whom the Erie
| road was now under contract. This, besides obig-
ing Mr.. Ramsey to break contract which the Su5-
quehanna had already entered into, would preserve
the coal monopoly and perpetuate the evils now ex-
ising in that branch OF trade They claim that this
| side bad management and desire Tor more active
| administration Is advanced as reason for change.
The only comment that can be made 1S that II lt Is
| conspiracy to GUST MT Ramsey 1t Is, In view OF his
long and labor0us connection with the Susquehanna
| road, one OF The most unJustdable movements that
| even railroad history can furnish.
| Two Sets of Receivers MISUNDERSTANDING
Proceedlnas i'm Albany-A New Director Ap.
! pointed by the Common Council.
| [From the Albany Evening Journal August IL
The strife for the control Of the Albany and Sus-
quehanna Railroad continues with constantly aug
ftrUf init M IN