New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-03-24


tive rates. and the people of tho slate OF Sew.fork
whose meaus were 30 freely contributed Tor the
fair return for their Investment There is ample
proof OF tue fact tnat IN every struggle Tor supfe-
invariably sufferers Let the experience OF the past
point out policy In this matter and once more
let me say "Iet well enough alone" one more sugges.
ion have dome 1t should rot be lost sight OF that
Philadelphia and Baltimore are rivals OF hewfo ORR and
NewYork IT, therefore. the commerce OF our great
city to be sustained and protected we must overcome
this disad vantage In distance by every means In our
power although IN this effort we are compelled TO mate
rally lessen the charge Of transportation
STATEMENT OF An ENGLISH sToCKHoLDER.
Mr.. George Crouch, an AngloAmerican stakeholder.
next addressed the Committee behalf Of the English
shareholders, who protested against the scheme OF
Messrs Raphael Co. Mr.. Crouch said:
My excuse for trespassine your time is something
similar that Of Mr.. Burt own 5000 shares Of Erie
stock England and IN addition represent the shares
Of number Of there who protect asans,
are the prime movers would by way VI preface TO
WITH g eadns ad 1s an Sn1e Of
obtaining insight into the operations and affairs Of the
applied to by friends In England for further Information
then called upon the President OF tho road for such
was agreeaby surprised 70 find that on the contrary
every facility was given was allowed to inspect the
In fact had every opportunity obtain the informa
ton / desired. That information was published
beeS denied ssousE IL nearly ev
charge that has been made as to the and eond
reaching England, the parties whom now represent
concluded TO hold their stock long there any
prospect of the present management remaining in CON
troll Apprehending the worst possible consequence for
all parties In the interest from the action OF the self
constituted Protective Committee. number Of promi-
holders the other side have placed their shares
behalf To-day speak behalf of 100000 worth OF
Erie stock owned in England, and ain advised that
reduction IN the number Of shares Messrs Raphael
Co are now striving to control The Partial insur-
OF the last but by no means the least. disas-
trous of the many events which have resulted to
all parties interested, from the reprehen,ble measures
adopted by the enenles OF the present management:
Disappointed at the failure OF their individual and united
efforts the Ramsey Eaon anderbit party IN their de-
termination TO be reyenged IN some way or other finally
catspaw Their plans IN this connection were admirably
we'll laid, and far successful at the outset raise
possession of the longcOveted cestnuts Ignorant alike
of the history, condition and prospects OF the road,
Of the Interior designs of the contemplate con
sprators who are stirring them up 10 uniting
siderable number OF the foreign stockholders have been
shsmefaly imposed upon 10y the agents OF rival Ameri
aud Fske The most tempting bait, however, was the
prospect OF oustng the American directors and nllng
uson the London stockholders did not perceive the
hook in which tey are now suspended until they had
been bled by tue phanhrOpc nanciers who compose the
sOcalled Protective Committee TO the tune OF 42JOoo.
pretty dry before they are allowed TO wrge of Their
confidence in the protestatons aid promises OF the men
TO whom they oOshy iutrusted their shares will be
somewhat rudely shaken when they learn that Mr. Burt
while pleading as lac says IL Their behalf before the sen
ate Railway Committee in Albany. said: " IT could
have the opportunity tomorrow OF appointing board OF
directors OF this Company, We should not appoint men
who live in London, or men who wonld LOOK Simply
10 the interests OF the shareholders III Eugland No
better illustration OF the sublime impudeuce with which
the English shareholders resident the other side nave
been imposed upon from time to time by their American
friends, needed than the fact THAT they we're actually
banboOzed into the belief that Drew and Vanderbilt
fought the great fight OF 1868 for the benefit OF the stock
holders generally and the Engfh Interest parIGsy h
Absurd a. this pIeposterou becf must appear 70 aucn
have the slightest knowledge of the care Uy te
Uaiory OF the foreign stockholders, until few weeks
ago, WAcD IN Ofuci 20 persuade thei 70 euscio IoI @
urtheranCo Of the schcuies OF the English PROTECTORS
found necessary to dsipate the delusiou concerng
their American friends, much surprise and 40 little
ndisnation manifested when Mr. Raphael the head
center Of the Protection RING tod the bfl-h share
holders that it had been pointed Ort to the committee
that the actions brought against the Erie directors by
Mr.. Drew Mr. Vanderbilt and others. had been III
seGted lOr private purposes and that they Drew ana
Nanderbilu were far satisfied with the result, they
had attained SjOOOD0p worth OF plunder That The law
suits had been allowed to drop. No doubt Commodore
Vanderbilt would rejoice exceedingly
II the lawsuits were allowed to dron ne can AFFORD ~
but Fisk and Gould 10 think the Erie sareholdct
English we'll as AnerIcan would stand much better
chance OF receiving early dividend the Commodore
would only be conscientious enough to crop the five Il
hon as well as the laS suit and the proceeding; IN the
1t cannot fail TO I've exceedingly interesting aud Instruct
& Co. 1t is passing strange. however, that what
SO PLAINLY dsc,raOle to all roi the otnSf
to the concoctor. OF the infamous protection"
spracy And the queton. naturally arse what has so
suddenly opened the Of the men VINO have hitherto
been aucutaby. confessedy. and may be crninally
tO
ious to protect What assurance have the English share
holders that Mcssrs Raphael. Heath Co will not make
arrosentJy assumed Tor her own enrichnenii
would appear that, notwl tsaldng Their CLAIMS 10
Committee by no means above suspicion For IN
stance Messrs Gould and Fisk claim 10 be IN possession
of poGfs furnished by their agent IN LOGGOn hat the
members OF soCalled Erie Protective COMMITTEE are
merely agents OF ssa az tho and
Pennsylvania Central lines TO crush out the e as com
ia 20 secure possession Of s0OO0OOO stock
owned on the other side. aud, after getting II
to the managers of tue two aboyena,ned antagonsc
corporations both Of which have recently secured the
| passage OF laws authorizing them to purchase But
Gould and Fisk It VIII be objected are very deeply pre-
| scheme and are consequently willing to believe anything
may be advanced 10 their discred We'll as TINS Is
TO make all due allowances In the connection. how
| ever the Erie directors are not TIE Only parties
| COS ALTERATIONS of disint5rcstejness and the
following indignant protest which wa, published In The
M ALREADY been published Tho above doc
umeIt bears tie signatures Of the sensible OF The
cnf1l lmcrcau residents The latter In their audabe
anxiety TO sustain American credit abroad have been
mainly instrumental IN exposing the designs OF ie sol
dls0ni Protection Committee. However foolshy they
bSve ,red in other rcnpects the British stock olbers
who the head Of ;hs new tcusterng rad on the
Erie treasury considerable credit for their more
than Yankee raising the funds Necessary for
the accomplishment OF their private ends. Their first
move plainly demonstrated that they arc az little III
cued TO stick at tribes as the more reckless aud dis
reputable OF their American allies Gaining meeting 81
stockholders IN London. the leading conspratOrs voted
themselves INTO power &c committee ana 10 sOOne.
were the self constituted protectors thus empowered
than they commenced puchIUs their poor proieges by
the lmpcston OF tax OF one shilling per snare Nitha
view To forcing all holders the other 10 submit 10
tins extortiOn aud 20 securing absolute control OF the
Eug s interest Raphael Co. went so lar ~ 10 threaten
that shares not bearing their stamp should he excluded
London stock marEet Why, the ERE Directors
have not even accused Of attempting any thing half
80 dcspoc tbs rst act of the English pSntectorae
Heaven save the mark While anxious 10 do al! that
hes IN their power 10 satisfy 'he Just ana reasonable de-
inands Of The foreign shareholders when properly pre-
Erie Directors compelled la sclidcIcuSr,
-. m