The New York herald., 1870-05-03
THE ARCADE SWnDLE.
The Wealth and Influence Of New York in Unicn
Against tho swindle-Mssting at A. 7.
Stewards store-Speeches and Pro-
csedings Of tho Gathering $780,
100000 Opposing the Poll
teal Sharpsrs-How
Will it Endl

Gentemen representing over $500 OOo, 600 Of prep
eriy on Broadway gathered at the down town store
OF Mr.. A. I. Stewart yesterday afternoon at three
O'Clock TO perfect an organization against the area
dian swindlers who hang suspended by hair.
which the people OF New York hope viii be pulled
70 its breaking strain. MIR. Stewards pri-
vate ofhce On the second ioor over
looking Chambers street was almost completely
nlled by men who wore expressions OF honest in
dtgnation ut the magnificent fraud-the Arcade Rai-
way-whch reached the acme OF yenal aishly
when II came out OF the hands OF the recent Legis
iature--tne boldest outrage and ralest piece OF au
dacity ever nuDg in the face OF Inc wealih ana in'
tegrty OF the city.
The meeting was duly organized by the election OF
ihe venerable Judge J. j. Roosevelt as president ana
Judge Henry Hilton as secretary. Mr.. AT. Stewart
then came forward and stated the object OF the
meeting.
Mr. STEWART said it was a wen known fact that
those having large landed interests on Broadway
were opposed to the Broadway Arcade Railway bill
as passed by the Legislature. the gentlemen pres
cnt had gathered for the purpose Of demonstrating
with the Governor, and 1t was due to the vital ques
tons AT Issue that all proceedings should be
governed by unanmty. AS business men
their action should be prompt and concerted,
and each gentleman present should go 10 Albany,
and strengthen the opposition to this unwise mea-
sure by the weight OF his personal presence.
Despatch was necessary. He supposed that every
one was acquainted with the measure. lie trusted
that the action OF the committee that should go 10
Albany would be such as TO protect The greatest OF
commercial thoroughfares from the proposed inno-
vaiions.
Mr. f. 8. JAFFRAY, as one Of The wealthiest owners
on Broadway was then called upon for his views.
ataA that aen nm nrp mt gh
70 to Albany and urge the Governor to put his veto
on the bill. such a movement would give the Oppo-
s.ton moral support that would be respected 10y
the Governor and admired by the community. The
Governor could scarcely have any doubtwhen he saw
tho gentlemen most affected by the bill making
stern opposition that the changes proposed were r
reoCncilabe to the stability aud commercial Useful
ness OF Broadway. lie alluded to several points in
the bill. II was necessary, in order to develop the
scneue to dig up the street. and this would be an
business men had been that when traffic
and trade mad once been directed from
popular highway for q length OF time. 1t had gone
never TO return. He would invite the attention OF
the gentlemen present to the case OF Pearl street
1t would be remembered that after the great nre
built for the dry goods trade; but the injury
wrought by that disastrous fire was never neu-
trazed. Trade never returned to Pearl street;
And with Broadway the effect could be seen.
Were this scheme carried out 1t would stop the great
trade which is now beng done from the Battery to
It's northern terminus, and the real artery OF our
city, abignway built up with substantial stores, would
be utterly DESTROYED He was not willing TO stand
by and see these unwse measures triumph,
nor could he count3nance any movement
calculated to do so little good and SO mucn
evil. He WAS, therefore, cordial supporter OF the
opposition to the Arcade bill, and would exert him
sell 10 secure Its final failure lie moved That COM
mittee OF five, from G general committee be ap-
pOnted take charge Of the business arrangements
Of the gentlemen TO visit Albany and niercede with
The Governor.
Mr.. GEORGE GIBBS said that one Of the most OBJ
noxious features OF the bal was the clause combining
the issuance OF injunctons TO a single court 1.-THE
Supreme Court, First district and possibly to Sin
gle Judge. Thus would the owners Of the longest
line OF properly Ia the city be trammeled, and IT
might be impossible tor any justice At all to be meted
out.
Judge ROOSEVELT said that 1t had now come to be
q common for yenai legislators TO inter.
polate such clauses ut the instance OF railroad ana
steamboat jobbers aud other monopOlsts He con-
demned the clause.
Mr.. b. L. SOLOMON alluded to the transit from one
part OF the city 10 the other and ia referring 10 an
article morning paper silgmatNed that
beaming organ as vile sheet, or language TO tnat
effect He urged the importance OF being present at
Albany. -
resolution was then adopted appointing gene
raj committee to wait upon the Governor AZ l0uI
O clock Tomorrow afternoon IN the Executive Cham
Der, Its members are