The New York herald., 1872-07-10
Sketches Of the New Officers and Directors
and Interviews with the Moneyed
Men Of the Road.
The Atlantic and Great West
ern Interests.
Report OF the Retiring Board on the Ope.
ratiOns Of the Last Nine Months and the
True Condition Of the Company.
A PLAIN, UNVARNISHED TALE.

Unsophisticated individuals Of the British cohorts
Of Erie, led by the redOubtable MoHenry, were
much surprised yesterday morning when they
entered the Grand Opera House, on discovering
that there were no indications of a row, and that
the election for q new board Of directors and
officers Of the board was likely to pass of more
quietly than an English vestry meeting. Ignorant
Of the American way Of doing things, they knew
not the potency Of the caucus. Expecting real
American rumpus, you know, they found everything
calm and serene as Tammany meeting with Tweed
as president, and that there was nothing for them
to do but vote as directed and according to law.
The stockholders commenced voting at ten O'Clock,
or rather their proxies; for at no time during the
day were there present more than thirty people in
the rooms of the company. General George b.
Mcclellan arrived early, as did also Mr.. Barlow.
General John A. Dix, Homer Ramsdall, General
Diven Peter II. Watson General McQuade, John J.
Cisco Mr.. George Crouch, Mr.. Homan, Mr.. Nc.
Henry and number of Erie light weights. These
gentlemen showed no excitement and talked and
chatted pleasantly.
''LoRD aoRDoN'' WAS CONSCIOUSLY ABSENT
and J. Gould did not put in appearance. When
the balloting commenced, with Henry Nichols, OF
New York; James n Matthews, of Buffalo, and
George j. Magee, Of Watkins, as inspectors, Gould's
proxies for 10000 shares were handed in but were
refused after consultation, the inspectors deciding
to have nothing to do with the willy exPresident.
The following ticket for directors for 1s7273 was
distributed about the room, and no amendment
was suggested
DIRECTORS FOR 1s72-73.
samuel D. Babcock, Samuel L. NJ. Barlow, John
]. Cisco, Charles Day. Alexander 8. Diven, John A.
pix, +W Butler M S Duncan, *John ]; Johnston Henry
John y: 7. Pr%yn, Homer 4 % Ramsdell, Frederick
ers, *Peter H. Watson.
the soar thus are those Of the new members of
The singular unanimity OF the stockholders and
heir representatives to the ticket arose from
the fact that at late hour on the previous night
meeting was held at Mr.. Barl0ws house. which was
largely attended by those interested in the new
Erie departure 1t was there discovered that some
gentlemen whom the English stockholders desired
to see made directors were ineligible under the
recent law Of the Legislature. The ticket was then
remodelled, with o view Of having men on the
board in the interests Of
THE ENGLISH PARTY.
who 1t was claimed hold seven-eighths OF the stock
OF the road, who were eligible and in whom the
Britishers had full confidence. After a short dis.
Cusslon the ticket above given decided on and
the draft of 1t sent to the printers. Tammany
tactics were adopted and with eminent success.
ing $4l, 1900. From ten to fifteen millions
English proxies were thrown out for informality
and for not being properly acknowledged. When
the pools were closed at two O'Clock, itswas found
that not q single name had been scratched and
that the ticket was unanimously elected.
Immediately after the announcement of the
result Of the election the new directors assembled
in the directors room and organized Mr.. L. M
Barlow calling the meeting to order and nominat-
ing General John A. Dix as chairman. General Dix
made few remarks congratulatlng the newly
elected directors and predicting bright future for
the Erie Railroad; and then Mr.. McHenry proposed
and Mr.. HOmans seconded
MR.. p. II. WATSON FOR PRESIDENT
of the Erie Railroad for the ensuing year. There
was no other candidate put forward and Mr. Wat
son was unanimously elected. General A. 8. Diyen
was then elected Vice President Watt Sherman
Treasurer and H. N. Otis Secretary, also unani-
mously, and the Board adjourned.
1t was given out, unofllcially, that Colonel II F.
Sweetser and John II. Abbott, Of the Atlantic and
Great Western Railroad, will be appointed to-day
by the newly elected Erie directors freight and
passenger superintendents respectively In place of
Rucker and Barr. From this it would seem that
the Atlantic and Great Western controlled by Mr.
McHenry, will have good deal to say in the manage
ment Of the traffic over the Erie road Mr. McHenry
however insists that the consolidation OF the in
terests Of
THE ATLANTIC AND GREAT WESTERN
with Erie, instead OF inJuring the latter to the
benefit Of the former, will work well for both In
his opinion 1t will be for the benefit Of Erie to have
the connecting line to the West that a close union
with the Atlantic will give them. He Is convinced
that Erie has been draining his road long enough,
and that IL Is time to stop IL. 1t Is not Intended he
says, to saddle Erie with the debt of the Atlantic
and Great Western; each road will work inde-
pendently but will have no clashing interests He
made further statements to our reporter which
are given below, and will be read with the atten-
tion properly their due.
MUTUAL ADMIRATION MEETINGS
There were two meetings during the day, which,
while not characterized by any exciting or pecu-
larly instructive incident, yet form part of the his
tory OF the eventfu day. and therefore reported
1t will I've seen that In each there was extraord
scratch you'' rule prevailed. That happy state Of
things was undisturbed during the day,
and directors and stockholders wended
that once resounded to the laughter Of
James Fisk Jr., and the petulant commands of Jay
Gould, with radiant faces end satisfied minds
hugging the consoing thought TO their bosoms that
the dark night of Erie was over and the dawn was
THE RETIRING BOARD IN SESSION.
The retiring board OF directors assembled In the
Presidents room at nine O'Clock In the morning
close up their business. The following letter was
read from H. g. Stebbins, written on the eve OF his
departure for EurOpe:-
NEW YORK. June 10, 1872
My DEAR GEsrRAL--It may be important to the Erie
Company during my absence to control my seat In me
Board of Directors AS my object since my connection
with the company has only been 70 facilitate its opera
tions and advance its interests herewith tender my
resignation member of the Board TO be used by you
at any time you may deem it important r Faithfully
yours, ii. q. STEBBINS.
GencralJ. H. DIX
The resignation Of Mr.. Stebbins was accepted.
In response to some remarks Mr. Homan spoke
az f0TiOws:-