The New York herald., 1870-03-17
THE RAILROAD TITANS.
Imposing Tournament of "Cheek''
and Capital.
Jimmy, the Blonde, and Gould, tho Brunette, in
Court-Ths Jersey City Siege official Re-
port Of Operations Under Oath
That 5000, 900 Quietus

tain actions, which rendered memorable the sharp
and mysterious devices OF many OF the railroad
monarchs IN 1885, wnen the dull shores OF Jersey
were hugged with unaccountable tenacity. The mar
ratlve unfolded yesterday is In itself pretty
able disclosure or the able shifts OF master hands,
and the public, forgetting for moment the dscord.
ant sound with which the word "Erie'' duns the
ear, will doubtless be Interested in perusa OF an
examination that elected some entertaining detats
OF the celebrated Jersey encampmcnt, which rend-
cred so notorious the willy operators.
The Supreme Court Special Term, was crowded
a. on the previous day. The counsel were in
prompt attendance and wlnked at each other
knowlngy TO keep up the sport while the lunds held
out. They were quite friendly with each otner, AZ
II all were twin brothers. Shortly before eleven
O'Clock IN walked
puffy and blowing like an engiue after a sad dis
nster he was apparently alter hearty breakfast;
but nnaliy alter being subjected 10 the inquisitve
gances OF score OF law clerks. succeeded IN seating
himself near his counsel. lie was rs cool looking
piece Of lard and, having Drayeiy attempted to get
MS huuuS IN his own pockets, crossed his legs and
sat still. Then came Could, Stalking modestiy ANA
seemingly ~ innocent rs could be.
IL VIII be remenpered tAas Mr. Gould was ex-
amined at some length ON tuesday aud detaned at
.ength the allegations SEE forth Ia tue complaint.
Az the termination ol the direct examination an al.
Journment was granted order that certain cuttfi-
sci should be III attendance 10 cross.eXamine HIM.
Judge Barnard having taken hs seat upon the
pehcn' Mr. beach, Of Troy, AZ once proceeded Win
THE CROSS ExAMiSArioN or 00uLp.
Tne auditors were hrst OF all treated 10 u little
history OF me witness, who, IN reply to some ques
ions prOp0unded TO INN, stated That he had been
resident of New YORK since 1906 before tnat pciiig
cIvil engineer, he mad no permanent residence
though he was mostly IA Delaware county; he was
connected with two Vermont roads before amt after
he came To New York. IN 1897 he was large owner
OF STOCK IN Ere, ana through that became con-
nected wan It,; Mr.. Drew was depressing THE STOCK
and they concluded TO oust nun from the
board; Mr. Vanderbilt and hts trends were WORKING
with them at the time, but the night before the
election Mr.. Vanderbilt came TO them anu said he
had made It up with Mr., Drew; they san it was too
iate; they wefe pledged 10 ticket without Mr..
Drew; 1t was finally compromised by eecting
ttcKet without him and afterwards makia2 vacancy
for him MIR. Gould then became director, aud IN
Juy, 1888, became president; MIR. FISK became con-
nected with Erie at the same time; he lrst became
acquainted with Mr. FISK IN 1867, apout the time
thet bOth became connected with the Erie Railway;
the office Of the Railway was In New YORK since last
summer, on Twenty-tnird street. Alter some evl-
dcnce as to wnaG books were III possession OF The
company the witness saiu tnat IN February, 1898.
stock was issued 10 the amount OF $40 UOJ inat
STOCK was issued III conversion OF convertible bonds;
Mr.. Drew was treasurer, and doubtless kept u re.
cord or the accounts though witness Was not aware
OF the exact manner IN winch he did so. the nrst
Ave millions we're negotiated through Mr.. Drew. ana
the second fve millions were assumed by Mr.. FISH
the first lot was negotiated at about seventy and the
second AT about the figure.
HOW FISK HIT THE NAIL on THE HEAD.
The five millions ol sCock sold by Mr.. FISK were the
last i've millions; 1t solo the same aay Mr. Van.
derbllt Issued ms unlimited order 10 sustain the
market (aughter): he sold the highest oil 1t 10 Mr.
Drew and the balance 10 Mr. Vanderbilt; Mr.. brew
was short OF the STOCK and very uneasy Qaughterl;
Mr. Drew sent down order ~ buy, and when ne
found that Mr.. Fisk had converted ms stock he
rushed down 10 stop the order, but when he got
down mis- shorts were pretty wen coveYe augater};
when witness came lnto the directory Mr. Wander
bt, Mr.. Sche, MI. Work. MIR Drew and otaefs
made up pool but when they came TO settle up
matters Drew, Schcll and Work qaaf,eed.
BIRDS or PREY.
They charged eacn other with cheating; out o
The progress Of the itga,ion second pooi VA
made up, Drew being lelt out ami the party IN th'
| pool had tnat gentleman short" and we're ocgin
nlIlg " Dul IN the strings Mr. Drew came over ter
ribly frightened and at once sent on messenger u
buy, while Fisk sold. Q.aughicr.) Witness knew
| that FISK was gong TO sell.
| FISK DID ALL THE TALKING.
He twitness) had had an arrangement with Mr
Drew tor dealing in stock; Drew was over ii
jersey City, ana he used 10 come around by
| way OF the Weebawken ferry aG night To see
Mr.. vanderbilt; ne knew because he was fo-
| Mr. Fisk, Mr.. Drew ana Mr. Vanderbilt; wit
ness was then IN Albany: Mr.. Vanderbilt told him
terms; those who were opposed to the settlement
could NOT Hd out any tting about lt the object OF
their nrst visit to Mr. Vanderbilt was TO learn
thing about it; they (fisk and witness) went there
Mr. Fisk did most Of the talking; TINS was the nrsl
visit; they had previously known OF a secret nego-
tiation going on AT MIR. Perreponrs house; Mr.
Eldridge took them aside; there were two or three
little rooms; Mr.. Edridge said that the setr!cmen,
| was very important, that they FISK and Goud
stood alone against the wishes of the others: tnai
| Mir. Eaton and Mr.. Evarts mad been consulted, had
said It was legal and advised it;
i
| Messrs. Eldridge aud Schel wanted witness TO put
down what he had put In. Mr.. Drew considered
the affair great swindle, hnt nc thonght II mpor
Lant To get out OF litigation. Witness had brought
suit 10 restrain the directors from the settlement
| and as tney were oil putting IN their suits at 81
much thev asked witness To act likewise. He &C
quiesced In the settlement, bnt would nos take dol
lar. IL was stated at the meeting that Vanderbilt
consented that the settlements should 20 on AZ al
| they could. Schel recelpted for Si2o 900. 1ht
suits settled those Of Sche Work and BoodgOod, and
! one at the instance OF the people. Tbe interview
with Mr. Vanderbilt after the meeting al Mr. P!crsc-
| p0nLS house was the day after
THE COMHODORE's SAFE WAS ROBBED;
Mr.. Vanderbilt, Mr. Fisk and Witness we're the
only parties present; he seemed disappointed tnat
Schell had been pad; witness asked him how much
stock ne had, what be paid for II aud what his
losses were bn he appeared 10 be unwilling TO tell
the next and third meeting was AZ Nahuefbrs
house that or the following evening; at The third
interview one but they three were present. he
came IN ana Lam down on The sofa IA the reception
room; he said lie had ten millions OF stock, and
wanted 10 sell the whole; II they would take that
and settle with him there would be peace and har
Diony between the tw0 roads; Mr. Vanderbilt did
not say what ten m,iiions Il was; he sara nc had
never expected 10 buy so fauch, but the orders
having been gwen the other fellows run upon him
Naaghter}tey asked him to let them his brokers
| accounts. but he said they must take ms word;
he told them he had never been IN poo before
he mad given order 10 sustain the marnet and III,
| 0ther isows had run aud sold out OH hm--0aagh
tcrlhe sad the other fellows IN The pool had cheated
him-he spoke especially OF Mr. Sche; witness sand
they were willing TO take i've millions OF stock but
hnay he agreed to settle on ther taxing that STOCK
and paying MIN mis- losses la The pool: lie said Il,
had told Ehtrdge that lie W0uii take 500 vi the Eric
and Hartford bonds ut eighty. and tnat was all nt
could take: they f'isE and Goald) told him the,
were opposed 10 MAT method or settlement that 1
| they had attended 10 1t they would have gone on
| and sod the stock SO log rs he chose TO buy
daughlerl they would have settled the matter IL
| three days.
ROYAL RAILROAD COMPLIMENTS.
Mr.. VauucrolL had low npiniOn OF Mr.SDreY;
ne SAID hc mad no backbone, hs had been over there
| TO arrange with him: II II had not been ior them
| Drew would nave given up long ago; he called hr
| Drew, witness thought. an old hypocrlte ms The
parted be said Boys. you are young, ant II this IL
] carried oui there will be peace and harmony be
| tween the Two c0mpaniesr -taugEterl-Mr. Fisk
told the Commodore thaL Mi. Drew had gone
one night 10 the Jersey bank where the Erie money
was and got II and brought II 10 New YORK
but ne tFisk) finding II out had attached Mr.
Drews private funds and securities over IA Jersey
| aud Mr.. Drew, finding himself euchied, had
! brought rne money back Great laughter| Tue
| next interview was just before the board meeting
! Eidridge Vanderbilt and witness were present
Eldrdge told the Commodore that he had called
| meeting of the board for ten O'Clock; hut he must
| take S2,OOo,00J OF the Boston, Hartford and Era.
| stock at ~. vanderbilt rellsed, and witness sug
| gesled q compromise fi,250,0 900, which wa,
| agreed 10. The contract between Drew aud ths
mi " cancelled a de