The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1872-12-31
JAY GOULD DIsGORGIHG.
Gould Returning HIS Erie Steal.
ings..The Grand Opera.HiOuss
Surrendered TO the Company.

NEW YORK, December 20.-The re-
funding of nearly ten million dollars by
Jay Gould to the Erie Railroad does
not excite newspaper comment coniplit
mentary to either party. The Times
thinks the whole thing looks like com.
pounding felony. The Tribune speaks
of it as case of thrifty remorse, adj
ding the question whether, in view of
such transactions as these. people are
not beginning to lose the sense Of NOR
al distinctions in the dazzling an6 vul.
gaf glare of these vast speculations.-
Gould virtually admits that he stole over
nine millions from Erie He has specu-
lated with this sum for several years,
has been lucky, and can now afford to
compromise by returning about six
millions, cash value.
President Watson said to reporter
81 can't do other than accept Mr..
Gould's motives as expressed in his let
ter. He says he desires peace for one
thing, and that he has other large in
terests in Erie which prompt him to the
step. He is certainly one of the largest
individual stockholders in the road, and
claims to be actually the largest. From
the time, however, when l got possess
ion of H. N Smiths books and the ev-
itience, l was satisfied that Gould would
have to come to a settlement"
Mr.. W. Butler Duncan, also being in
terviewed, said: "We have enough to
secure US the whole, and the only point
is this, that Gould surrender up the
whole which of right, belongs to the
Erie Railroad, ahd under the peculiar
circumstances of the case we are in
clined to exclaim: Half a loaf is better
than no bread" ("
| 1t is stated that Gould holds $40, ,000-
600 in Erie shares, which have netted
him a profit since yesterday morning OF
about S2,000,000. He is large holder
in other shares, which haye also advan-
ced
At II A. NJ to-day Jay Gould drove
in his carriage to William street and en-
tered Mr. Barlow's office. A gentle.
man from Osborn & Chapin's arrived,
conveying two attaches of that Office,
who carried a huge tin trunk. This
trunk was taken into Mr. Barlow's pri-
vate Office, unpacked, and its contents
stacked upon table. They were stocks,
bonds and other securities which Gould
was to transfer, and they amounted
nominally to about S9,0O0,0O00 They
were 80 bulky that Mr.. Barlow was
obliged to send for boxes to pack them
in. Mr. Watson soon arrived, and
Messrs. Duncan, Trayers and Others of
the Erie Directory were present at times
Eduring the proceedings. Gould was acr
companied by his attorney, Mr.. Shear
man, aud work was begun. The count
ing and examination of the securities
consumed about three hours. The
stock and bonds amounted to over So
100000 The. delivery of these compile
ted that part of the transaction. The
business relating to real estate in this
city was completed by atfixing the re-
quired signatures at O'Clock last even
| ing. This leaves something less than
$4,000, 900 in real estate in New Jersey,
Pennsylvania, Ohio and Rhode Island.
comprising sixty or seventy tracts OF
land and other property to be conveyed
to the company. On much OF this the
papers can not be completed in several
days, but the Erie Company is satisfied
that Gould intends to fulfill his contract
exactly
Tho city property includes the Grand