, 1870-06-10

country demands revenue reform; it will no
longer submit to unnecessary taxes. which
impove1iah it without bene6tting tho treasury.
The people are t5ed of supporting 2 nonstlous
for Justice il to be made, and people are al
ready instructed, comes the President, and, at
the demand Of the only member OF his Cabinet
who ia opposed to reform, and, Is We have
rrsson to believe. without consultation with
any Cabinet member except that one, puts
himself, his administration, and, SO far as he
can, the Republican party IN opposition to
this reform which is demanded by the people.
THE NEW RAILROAD WAR.
Prince Eric and the Comm o<1oKe
with Drawn swards, and a Big
Fight In FFs1pect.
From. tbs .yess Fork Herazd, June 8.
Tho announcement in the morning papers
OF yesterday that renewal Of hostiltie9 had
resulted between the railroad magnates, Eiak
and Gould, representing Ere, on tho ono
hand, and Cornelius Vanderbilt on the other,
created considerable comment on the ''atreet"
i. e., Wall Btreet, and much interest was
manifested to Learn the precise nature and e1-
tent OF the issue- The effect, however, Of
these reports on tho stock Represented BY the
| profess to believe that the contest will be OF
I brlef duration, as there is no question Of tho
fact thst each OF the respective "tubs - can
"stand or -ita own bottom"
With ! view, howeser, to learning the exact
facts in the cass Herald reporter paid q Wait
sion Of the c2uses which led to the present
conflict and the proposed course to be pursued
by the New York Central. He Was politely re-
ceised by the Commodore WHO said THAI ho did
not wish to enter into any newspaper con-
trovcrsy, and in the couree Of . somewhat gen
araJ conversation Sfxtaf hin ar1h~
stantia1ly as follows:
The New York Central, Psunsylsania Cen
tral and Erie Railways had entered into an ar
rapEement seven years ago, establishing
sMinr :l rates 1tS Of passenger and fsisht charges
the New York Central, but had been repeat
edly deviated from By the other roads. It
had been found utterly useless to make nny
compact or arrangement with the controllers
Of he Erie, for tho reason that they wou1d
violate any and erery such compact within
twenty-fOur hours after making it. The only
course now open Tor the Central to pursue was
to reduce rates to such a point that it would be
impossible for the competin lines to underbid
them. This ho proposed to do. He said that
the New York Central, running through tho
was worth every cent Of Of the par value Of its
stock, and the Directors proposed to pay their
stockholders. The Central would Hereafter
be run simply on its own merits Is N in
UEptiNEUL N1l0 EUuFGlll, NQEt Au4 La
thought it was able to cope With any
and al possible combinations Il it could
not, he would vacate his position as President
This was the simple business-!iko position Of
the road and the talk Of . ''war and the
| sensational articles appearing from da5 10 day
to ''bear the market. II that WAS the OBJ
! ject he would only say that lie had all the
stock he wanted and no more; ha neither
wanted to buy or sell, and whas lie bad lie was
able to carry In regard to the parties who
Mr. Flsk-he cid not think lo could gain any
honor by noticing them in any way or en-
cou1agipg any idea in the minds OF tie n1l-
Initiated That they were engaged IN any war
! with him.
Subsequently = 5eporter eslled o. Nsssrs:
Fisk and Gould, and upon stating the cause of
hs visit, and aaking Mr. Fisk Whist course he
| intended to Eureue, he replied, in CHARACTER
istic manner: "Why, sir, VIC intend to fight
Vanderbilt has begun this thing, md We intend
to come up squaTely to the scratch, and take
il disappointed at the defeat Of hia English
agents to get control Of tho Erie, and this ia
| one Of biz ways OF trying to get revenge.
There Is meeting Of Directors now going On,
and viii leave yen to the care OF Jay Gould,
who will tell you al about the matter a. well OF
! better than can
Mr, Gould, although deeply engaged, polito-
said: II did not know OF this contemplated
fight OF Mr. Vanderbilt until day OF 10 ago.
The first intimatinn We had Of ii waa on re-
ceiying The following letter f-om Vanderbilt ::
PRESIDENTS OFFICE, NEW YoAK, June !, +
Jay Could Esq., PTesfaent Eric RaHaay Conpt1ay:
senger fares, excursion tickets and live STOCK,
] between Chicago, Buffalo, Pittsburgh anu New
| YORK, having beea entirely disregat1ea by the
| Pennsylvania and Erie Railroads for the past two
or three weeks, without consultat with the lines
represent. am obliged to give you notice tnat
IN n this date sn arrangements between us In
yon1s, VIZ II. VANDERBILT, Vice President
Thia letter, although dated on the let inst,
I did not receive until the Sd, when immedi-
stely H1oto the following reply:
Hu1tam Il. rand<r1as, :. - r. AoAA' ''''e p i''0'
DEAR S1h: am In receipt OF your note Of june
ment IN regard TO i've stock While accepting
your conclusions, have to say that you are in er-
ror Ia assuming mat We have dlsrega1ded any
agreement OF understanding with your company.
jar GOULD, President
In addition 10 the above correspondence, oll,
the gentleman holding the same position under
Mr. Vanderbilt:
GENERAL TICKET OFFICE OF TIE
HrDsos RIVER RAILROAD CoArAvy,}
- NEW ioRK, June &, 1aso.
DEAR SIR; am directed to inform yon that We
shall decline to accept Jous coupon tickets be
Bridge, attez this date. Respectfully, DC,
General Ticket Agent N !. + {. : ! hdSPE.SH i. r < r.
The cause of the quarrel was, probably,
our road. These lightning expresses enabled
us to, control q large ehare Of tho passenger
travel west, snd probably this vas not reliahed
by the managers Of the competing road
The Vanderbilt people assume to control
the Lake Shore Road, but We have contracts
with them that control our business. II they
violate their contracts with US, it renders the
officers Of the road subject to removal The
Lake Shore Road connects at Buffalo with the
Erie and Central, which are competing roads.
TIE u" i On oa. side' as e3n ba Pl.inly ~ Y
May, 1877" in which il the following clause
"Every railroad company whose road shall. st
OF near tho sa1ne place, conne,x with Or be in-
tersected ty two or more railroads which are
| competing lines for the business to or from
such place, srtch railroad shall fairly and i'm.
partially grant and afford to the proprietors Of
| each OF such 1oads equal terms Of accommo-
datoh in the transportation OF passengers,
| freight or baggage CATE" In case this be moi
done then he road s sagg1isved shan apply to
days notice. appoint three Commissioners to
compel acquiescence to tho law. Whnther
Vanderbilt Is ign~ant Of the laH or not, OF
course We canno{ {ssy, but it gives our aida- d
the caee shong*p9op. We arc certainly pre-
pared to fight th3 thing With him, however, 10,
ss0, ,000, 600 Worth Of stock upon which We have
to pay per cent interest, thus Laying
q yearly burden Of 37,200,G00 of interes
upon the stockholders. But IN case We shouli
be cut of by tha Lake Shore Railroad it VII
not cripple the Erie, for we shall then pas
connection there, which Will really be shorte
routa than the present one With regard +
the arrangement with the Pennsylvania Cen
tral Railroad may say that everything
| 60 :fAE aatisfaetory.. telegrnphed to NJ
: Scott, the Vice-P1esident Of the road, the sui
stance Of the notice received from Yandez
bui1t, to which he sent the following reply:
...- PH1ADEtHHIA. June 3
JiT GOULD: have SIMILAR notice ponr III
desstand what ne gentleman means exactg
| though Am pexfect1J content to abide his AWAIT
THoa l. SCOTT, Vice President
Then telesrsphed to him whether wee coul
depend upon beng Accommodated by bis road
and the answer that came back was as follows
PHILADELPHIA, June J
J JAY GOULD: Yes sir; we WILL treat you right =
! myself when We saw 5ou In N.Y. SEos 9oIx + SCOTT.
Vice Prcddent PennsJiEania Central.
From tho above statement it viii be eee
: that We are in good position to nent ~ "a
: threatened WAT. We are crowded VIII freight
must be borne n mnd a. lnis we ,1o1 R
2 IL .hich a1yo,ds us much relief in gettip
. IN csee case this fight become too hot v
t intand to inquire into the question Is to whett
2 er he other aide hAve not forfeited their cha1
i fern by violation Of them by takmg money I
t tbei, paIace csrs- Every fare they tske in thes
d drarine-room caIa is a violation Of their cha,
ter. They are limited to chxrge OF two cent
a mile. In conclusion, We aay that We haT
not inaugurated this var, but as We are in v
! A. H~l$ L. Rr-k Wood