The sun., 1870-03-21

Iu hOih p'lnp tho Oniy Piuce III tio "oi'H
where statutes are in force similar to this
which Mr. BURT attacks; md there are rail
road companies in other countries with his
torits which eclipse in evil all that Erie's
worst enemies Charge against that great cor
poration.
We are not willing to let pass unhccded
this English solicitors tact, II not avowed
assumption that the wickodness prevailing
in our State 80 greatly exceeds that existing
elsewhere. Let him turn his attention to
English railways aud English railway laws
for n moment.
One Of the sections Of the law Of 1860 which
is particularly nssllcd by Mr. BUTT is that
which provides that onc.fith of the whole
number Of Directors of tho Eric Railway
Company shall 80 ont of office at each an.
nuol election. But there is not single rail
way corporation in any part Of Great Britain
whose lclrl of directors is not 50 constituted
that only n portion of the whole number OF
p,rsO. composing the b0arl retire from Of
lice ut the same timc. THIS system IL estab-
lshed both by the general and special stat.
utrs. No such thing ie known in England
~ an annual election Of the entire board OF
mana zen cut of railroad. A certain pro
portion of vacancies caused by the expira.
ton of the terms of q fixed number of di.
rc,tors, occur annually and are filed at the
yearly elections. Certainly the gentleman
cannot find in his own country presidents
for any other system than that which ho has
4 4
gislative Committee. But it. may he that he
regards bis own ideas on the subject M wiser
than those VIII ch have guided the British
Parliament for the last thirty years iu the
enactment of railway laws
There are facts concerning several mpor.
tant rnilroad companies in Great Britain
which show that even If all alleged against
Erie were proven tO he true, il has its
parallel, and more than one, in the
United Kingdom. Within few years a ron.
troversy arose concerning the management
of the London, Chatham and Dover hallway
An application was made TO Vice. Chancellor
STEWART, by one of the creditors of the
Company, for the appointment of a receiver
of the property OF the road and the receivers
whom Lie appointed were the very persons to
whose control and acts were attributed the
evils TO remedy which the suit was brought
Under the management of lloDsON. the
affairs of the North British Railway, which
runs along the eastern coast of Scotland
were 50 conducted as to render the stock
worthless rs an investment Even on the
Il, 4 l..-,1 l..
for years, except in one or two cases Of
amalgamatcl stock but we believe that up
to the present time Erie has not gone SO far
as this
There are many other examples among
them the Great Eastern Railway, whose line
extends from London through the eastern
counties of England, and the Calcdonian Rail.
way, running from the north OF England
through central and western Scotland. The
administration of both these roads mas b~an
such as greatly to dcpecicse their sock, and
the shares Of tine Cale.ioniap sell in . short time
from l47 to ~. u,c decline bong due solely
70 t!is 'canncr in which the line was man.
aged
To such an extent has the abuse Of
issuing false reports by railroad directors
been carried in England. and 30 prcjudical
have been these false reports TO the interests
Of stockholders and the general public, that
Parliament, at lis last session, made the
issuing of such reports in future felony.
1t is very evident that good English lawyers
can find plenty Of work in the administrative
reform Of railways at home, where they are
ofered nm opportunity for the exercise of
their ability in that direction which neither
this State nor this country can afford them