, 1869-11-26
hlKIWAL OF TIE ERIE WAF

N-HsA- " %AA w ALE AA40 Ar
Tic tangled nlaza Of injunctions md
enubteE-'njuDctions in the wars of Fisk and
Gould with their various adversa1iea defy
all attempts at narration in detail. Charles
Frnucis Adams, Jr., has made au able and
conscientious attempt to follow them in his
"chrptes Of Erie;" but tho picture he pre-
sents. though exceedingly graphic, is ,nc-e
outline. Now that the war is renewed,
tho country Mt large has
q moral and material interest,
in common with the Ieaa ia, stockholders
Of EEe, in crushing Gould, Fisk, and Lane
completely ont Of all connection with the
Erie Road. So long as 1tigants ollow Tie
battle to be fought among the New York
Judges, so long viii Gould and Fisk issue
enough new Erie stock, Mt whatever de pre-
ciation, to re-elect themselves to the control
of the road and to supply the funds re-
quired to hny their Judges and maintain
their ascendency, either by judicial decision
or hy compromise. At least twice have the
Fisk triumyiratc been driven to tho wall in
their litigations, and forced to compromise
Or have their fraudulent oveg-issues Of
stock-the bass If all their other 71scallties
set aside. Each time they have succumbed
-unce to Work md Schen, Vanlerbilt's
agents. and again to Belmont; and in each
Instance, nfter obtaining satety in compro-
mise, they hnve sued to recover hack tho
price paid for the compromise. There is
hut one road ont of this labyrinth. II The
holders Ct original and bon" .fds Erie
stock vii! carry case to the Supreme Court
Of the United States involving the legality
Of the over-lssues Of nearly forty millions Of
stock, begun by Drew and continued by
Fisk md GouId, the whole hubble will DO
l,r1cked- The fraudulent ove1-issues nov
exceed the lawful stock, being in the pro.
portion Of l2O 10 lOO, ns compared with
tie latter- The holders of the fraudulent
Issues sustain Fisk AID Gould, because
with their fall their fraudulent stock be-
comes urll. Thus they have fortified them
selves In 1'erpetuity against overthrow e1-
cept by annuiling the oyer-issues. So Iona
MS they are in power new fraudulent issues,
though they may run tie stock down to ten
cent? on the dollar or lowe., will supply
Them with the means Of maintaining tEeir
power. The original md valid EXC stock
having never been caslel in and
exchanged, is doubtless distinguish
able from the fraudulent, and,
being now sunk by the fraudulent
issues to third Of its real value, would be
trcblel in valne by such proceeding.
Here is room for nn operation in Erie
heavier than any which havo get trans
pircd, aud we shonld not be surprised to
learn that this is the meaning of the re-
newal Of the war by Rsmsav and Wander
| bi1t. They do not state what or how much
stock thes hold; but If the entire original
issues could be bought up, aud the fraudu-
| lent annulled, the winner would achieve by
the transaction the control Of Erie. and q
profit of nbout twenty five millions Of dol
lars. Perhaps, however, the Ramsay
Vanderbilt suit hns no higher alm than to
start a back FIRE On Fisk and Gould, who have
lately sued Vanderbilt for the money paid
to him in the famous o. infamous settle
rnent with Drew. To lake the Erie Road
out Of the hands Of Fish and Gould to put il
into the keeping Of Vanderbilt wouli no.
be recognized as reform, unless it shoald
h.rrcn to be done lawfully. Anything
which should bear the character OF lawful
ness in the management of Esie would bt
both novel and reIormntoly.