The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-08-06
ANOTHER RAILROAD WAR.
Exciting Contest for the Control OF the Sus.
quehannn R0ad-Erie Clique Versus Local



Direction.
From the Albany Evening Journal, August Al
determined movement, thoroughly organized,
was initiated some months since, 10 wrest the con.
trOl OF the Susquehanna Railroad from its preselt
management. An old express quarrel was one OF
the exciting Of this strife. and questions OF
similar character from time to time arose, which
rendered 1t desirable to certain parties TO secure the
removal Of the officers who have directed Its affairs
enS have Peen decea with great
The leaders began early. and have worked with per-
sistence.
0Some months since an attempt was made TO
make President Ramsey party to persuadng the
towns to sell their stock, out Mr.. Ramsey DEEM
ing 1t for the best interest OF the towns that they
should retain It, refused to volunteer any SUCH adj
vice. The law prohibits the sale OF stock by the
town commissioners at less than par without the
vote or the towns but they are authorized 10 sell at
par at any time. The opposition, finding 1t neces
sary to secure the stock held by the towns II they
were to succeed recently formed coalition with
Jay Gould, by which the latter was to furnish the
funds for the purchase Of sufficient amount at par
Il mas been wen known for some Tune that the Erie
President Ramsey has thus far stood firmly by the
best interests OF the people, and has prevented the
road passing out Of the hands OF the inhabitants OF
the section through which 1t passes. This coall-
ton threatens the overflow OF this wise policy and
places the SuSquehanna within the grasp Of the rail-
road pirates OF Wall street.
the struggle between the Erie party and the local
control came TO head on Friday. Thursday night
a number OF carpet-baggers went out on the line Of
the road bountfuly supplied with greenbacks.
kilograms followed them, and early on Friday morn
u
gress A number Of commissioners arranged imme-
diately Tor sale. Others remained open to negota-
ton. Mr.. Ramsey followed on the noon train on
Friday, and from that time the contest for supre-
macy waged nercely. The TACT that the Erie party
the stock OF some OF the towns at less nan
was offered by Mr. Ramsey has suspicious look.
and gives strong probability to the statement that
one commissioner has received present Of 5000,
in consideration OF his services in aid OF the Erie
movement while another was offered similar bonus
OF $1,000.
up the road and each claim TO hold majority OF the
stock. The transfer books close on Saturday and
the election takes place In september.
An Injunction war has been inaugurated, the noted
Injunction Judge. George G. Barnard. OF New York,
having secured IN the Erie interest for that
pose. Papers were served this morning in the mat
ter OF 400 shares OF stock sold by MIR. Ramsey
time since president OF the road; lie was also en-
Joined IRON acting as president of the road. An
Injunction was likewise served upon Treasurer
Phelps the complaint reclting that he refused to
transfer the stock of the towns OF 0neonta and
Worcester being melted thereto by President
Ramsey. What the result OF the issue Of
saw. Mr. Ramsey has enIOned the transfer of the
stock OF the town OF OneOnta the ground that 1t
had been sold at less than par. The papers passed
between the parties IN this transaction also are ille-
gal as they lack the necessary stamp.
In the absence OF President Ramsey Colonel
North locked the doors OF the offices OF the com.
intendent Van Valkenburg. A large crowd gathered
about the office as there were Indications OF out
break but the police being notified quiet was
stored Jacob Leonard, one OF Colonel North's
after keeping 1t several hours. The stock of the
town Of sidney, Delaware county, was transferred
TO Jay Gould.
The Erie portion of the Board OF Directors consists
OF Messrs. j. II. Herrick, JACOB Leonard, Charles
Coulter, Samuel North, David WILDER. Ezra Chase
and j. Austin. They claim to have secured 10, 700
shares Mr.. Ramsey IL equally confident that ne con-
tr0ls q majority Of the stock. which consists OF
0632 shares.