New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-02-23
% ERLE MAN1GENENT.v

The Cincinnati Gazette permits correspond
ent to say, under the above head, that
THE NEw-YoRK TmBUNE-a journal whose decorum
has always been its greatest pridehas led in this merc
less crusade against Fisk, Gould Col with its long
coated and tpantalOOncd philosopher az sort OF
modern Peter the Hermit Day after day. the columns Of
that paper have been filled with surs. nsnuaticns, I'M
mstakabe hints and downright charges Its initators
throughout the country have caught up the cry, ana
Joined in full pursuit But bare assertions not proof
and congratulations do not usually with them con
vctiOu. The charges OF THE TRIBUNE and It's followers
have been wholly unsupported by reference TO specific
or Unsupported facts 10 has been rOundy asserted,
and the allegations tenaciOusy persisted IN, that
immense frauds being perpetrated in the manage
ment of Erie and that the principal managers were be-
coming enormously wealthy at the expense Of simple
stockholders whose ambke innocence was only equaled
by the wOfsh rapacty Of the terrible managers. But
this is By no means satisfactory TO those who desire TO
know the truth rather than TO he RECALLED vague specu
aton What wanted is some definite specific charge,
backed up by dates figures. and all the accessories OF
proof which shall carry conviction of the truth Of the
particular allegation made Let these gentlemen who
indulge with much facility in sweeping assertions put
their fingers on specific instances of fraud, and stop in
dulgng in generalitcs If they will do this, 1t will DO
something more than they have yet done. 1t will also
be great satisfaction to the people, who are about tired
of hearing hints fearful things yet seeing the
evidence"
comments W Inc ITOuHc'
If we have been 80 indefinite as this person
alleges, we are gravely mistaken. We have
certainly endeavOred to base our inculpations
on facts, and supposed we had done so. We
will renewedly specify, to crafty this CORE
spondent-as follows:
1. We state as fact that the aggregate in
debtedness of the Erie Railroad, including its
capital stock has been increased by many
Millions of DOllars-nOt less than Twenty
since the election in 1867 which consigned it to
the tender mercies of Fisk. Gould 81 Co.
2. We charge that many Millions of additional
stock 80 created, or their cash proceeds. were
used by Fisk, Gould IL Co. to pay their
gambling debts to Commodore Vanderbilt, and
50 as nowise to subserve the interest or in
crease the value of the Erie Railroad.
8. We charge that the admitted earnings of
the Erie Railroad have not been essentially in
creased by the uses to which Messrs. Fisk,
Gould g. Co. have seen fit to convert the pro-
ceeds of these enormous issues of Erie stock.
4. We charge that, whereas the Erie Road,
under other managers, had paid several Mil
lions annually to its stockholders prior to tho
accession of Fisk, Gould g. Co. to it's manage
ment, it has since paid nothing even to the
Preferred stockholders, who were previously
certain of regular eight per cent. dividends.
5. We charge that the value of Erie stock
has deprecated at least two-thirds since this
property first fell among" Fisk, Gould g. Co.,
so that a stockholders thousand shares, which
were worth at least $4,000 when Fisk g. Co..
took hold of the concern, are now worth but
800 900. though he has meantime received no
income therefrOm.
@. We charge that Fisk, Gould O. Co. make
M exclamation of this extraordinary shrinkage
Of value under their management, and do not
even tell the stockholders, "Your property il
"as valuable AZ when we took it in charge
"wait a little, and we will bring you out all
"ripht.n In other words, we charge That the
managers are either studiously depreclating
tbe property of their stockholders IN order 10
buy it in at an enormous discount or they arc
Numbering the concern with intent to abandon
/ the wreck after they shall have stripped 1T To
/ the utmost
7. We charge that, having obtained control