New-York tribune., 1872-03-13
JAY GOULD'S SURRENDER


the Company until Mr. 8. T.. NJ. Barlow the Dovv -
sel, shall become sufficiently familiar with the oo,,,..
litigation and pending suits, which are nr,o.ron.
David Dudley Fields relation 10 tho pending anti. =,
counsel in them Is also unchanged for the present
Mr.. Sherman on behalf Of Jay Gould stated IN ,
TRIBUNE reporter that tho reorganization OF the Rod
was long contemplated by Mr Could and that IL vov,s
have been cOnsummated by him, but that the ne dl,.
tors In too great hurry. He was By no res,.
anxious 10 continue In the Board NJ all. He has M,
some time past, been dorous Of retiring from the nan
agement OF the road provided lie could do with bo
10 himself and with safety t0 the Company His coatn
nance as director is desired by the Board ON &C.
count OF his valuable experience In railroad oars n.
did not believe that IL was that NJ. Gould conen
plated the issue OF new stock.
OF the exirecOrS stated that he did not be,iev.
that any material changes would be made in tie mass a
the road employees. There might BE- 70 change In tAs
heads OF departments He believed that tle new dee-
tors would carefully investigate existing and past cos
tracts and II possible, annn such Of the aiter wers
corrupt, and punish those who had been instrumental In
having them granted an those who prJnted by them
He believed that 10 guarantees had been given by thA
new Board to Jay GOld, and tnat Official must abide By
the cOnseq II any OF LIS official acts were ra1d
Dr. Edwin Tldrdge sa,d: at am Mr. Gorld's firm
friend. here determined 10 stand by him o. aOy
honorable Should stand by Ills friend. When sas
the property OF tho Company was being sacrificed and
saw the disastrous results OF the lugatiODs, etc. 10
which the road involved, determined that would
bring about settlement This was last night Aiondayj
that made up my mind TO this went up 70 Mr Bar
low and fixed with him the terms upon which the settle
ment could be made which the terms arranged
them out faithfully. The next time Iwent UP took
with me Goulds partner, Smith, OF Smith, GOuld
& Martin and again the matter was talked over,
and the result was unanimous acceptance OF the
terms This conference occupied pretty much all night
Nobody was present but Ar. Smith, MI. Barlow, and
myself. The arrangements are simply that Mr. Gould
resigns the Presidency OF the Road but retains his pOs
ton ms director All. Could voted for Gen. DIX
President. My for doing all this was because Mr.
Gould IS in feeble health The weight OF responsibility
resting upon him would have crushed out any ly
ing except Jay Gould, ana insisted that be could not
stand under the pressure and weight Of care aH1 ne
ought 10 make settlement, but he kept putting Z on
until finally acted without him. IT iadIidge sad hs
felt proud to think that lie himself had saved tho
Company and effected this change He said there were
no Oyertures made by Gould to have himself prOtecedi
nothing Of the Kind hintod at in the settlement Gould
negotiated entirely through and Smith with BARLOW.
and the all arranged Monday night lie says
the Gould faction will make 10 opposition 70 tho
ali his operations two days ago. Gould has never done
ANYTHING TO fluther the passage OF the DI but haA
simply withdrawn his opposition. 80
Ina regard TO Mr.. Eldridgcs contracts win the r0ad,
he wishes IL distinctly understood that he fears no
animation He bad contract except contract which
was made with Cooper, Hewitt & Co., which was as.
signed 10 him by them and accepted by the Erie Board
on condition that he should pay $5G9l9 TO remqnerate
them for the loss they had had IN the other BILL which no
rolling mill has during the whole year, and Two yea IN
fact done the business OF the road at " per tuh less
than has actually been paid other works. IDaI chisis
now. Mr. Gould peculiarly cautious WIN that
establishment in which he stOckhOlder ana hss
ALWAYS been determined that the road should not 10
overcharged this house favored Eididge Is pOsu'o
that his contract needs no protection.