Lamoille newsdealer. [volume] (Hyde Park, Vt.) 1860-1877, 1872-12-25

I Tie Ere. NY. railroad had d
I slain q shout slO,OOO.OOO against Jay
oou1 n late presiieat, and brought saii
10 rreorer the amoaai, whersuron Gould
offered 10 settle BY giving up property to
ise amount Of 50 Os6 600. which ofcr
vas referred co q committee Of the direct
orr.
The report presented was very long,
comprising the fall terms Of the offer made
BY Gould, and concluding with a recon.
nsadatiOn that Il be accepted. The re-
port was adopted The result will be the
uiihsEaHel of the suits pending against
Gould upon his surrender TO the Board Of
Directors Of the securities amounting at
par value 10 s0,Os6,OOO, which sum. ao-
cording TO the members ofths Special Com
mitiee. will cover the total amount for
which the various suits have been brought
The terms Of settlement include the trans
FER Of GO.OO0 shares Of Erie stock, the
Grand Opera House aud a number Of lots
Of valuable land, amounting to fully ST.
000,O 900 AT current values.
Ii Is stated that before this thing was
consummated Gould was allowed to pick
up all the Eric shares he possibly could 10
this market aud at Tendon, and that he is
now the ownc- Of something like 100000
shares, on which he expects to make more
money than he surrendered to the COM
pany. This statement was confirmed by
Gould himself this afternoon, who also
said there was an understanding that he
was to BE- consulted on matters Of impor.
ance in connection with the business of
the road. lie thinks the arrangements
now made will enable the company to lay
the third ra on the Erie road and make
an alliance with the Lake Shore Railroad,
Ii is also stated on other authority that
the money derived from the sale Of these
securities is to be used in laying a third
rail, whereby the narrow gage roads Of
the West may have another outlet to New
York without breaking bulk, and further,
tits reported that Gould will throw his in
rauenco in the Northwest company in favor
Of bringing its traffic over Erie when the
third rail is laid. There is large short
interest in the Erie shares, and it is sus
pected on the street that Gould will work
the Erie as he did Northwestern common
and eventually twist the operators on the
bear side. 1t is a so said that the claim
Of the Ere Railway against Gould was
reduced some S650, 600 on the discovery
that he had Turned over that sum, the
proceeds OF 80 900 shares Of Erie stock,
to the company. The entry did not ap.
pear in the proper place in the Eric books,
but it was at length discovered and the
sum allowed. S. i, NJ. Barlow stated to-
day, that the property surrendered by
Could is estimated to be Of an actual cash
value If six to seven millions Of dollars,
and worth to the Erie Railway Company
the full amouat Of Its claim. The neces.
sary writings were made at his Office and
the securities were delivered Saturday.
Mr. Barlow said Mr. Gould received no
equivalent whatever except the abandon
mcnt of the claim against him by the CON-
pany. Various opinions are given as 10
the cause which led to Gould's surrender,
some believing that he had no other re-
source, aud others that it is part off deep
ly laid plan TO regain some Of HE lot ill.,
flucnce over Erie.