The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-03-08
THE STATB CAPITAL
LAST HOURS OF TIE ERIE RING.
Tho Senate Classification Repeal Bill
~ Reported in the Senate.
TEXT OF THE BILL AS AMENDED.
THE ASSEMBLY ERIE BILL.
Another Debate ON the
Seventy's Charter.
Passage of Judd's Jury Bill
in the House.
Important State and Local Bills
s Approved and Passed.
A Charter Election in New York
in April.
Passage of Judd's Jury Bill
in the House.
important State and Local Bills
s Approved and Passed.
A Charter Election in New York
+ in April.

ALBANY March 7, 1872.
The great sensation at the state capital to-day
was the action OF the Judiciary Committee OF the
Senate in unanimously reporting in favor Of Mr..
OiBYiens bill to repeal the Erie classification act
IL Will be remembered that on the very first day Of
the session Mr. O'Bren introduced bill that SIM
ply repealed the classification act. II was at first
believed by those whom the Senator took into his
council that bill OF this simple character
was all that was necessary to put an
end to the nfamies OF the Ring, inasmucn
as 1t would, in their opinion, give the bona tde
stockholders chance to dispose Of their own
property as they saw 1T, ana decide for themselves
who should have the care of It, regardless OF all
cliques, rings or corrupt bargainers whatever. 1t
leaked out, however. that the Gould and Archer
gang had so arranged matters that the pas
sage OF the simple Repeal act would in no.
wise disturb them In their lease OF power
ana plumber; hence 1t was that the friends Of the
stockholders set 10 work in earnest to draw up q
bill that would not only repeal the classification act
30 far as Erie was concerned but give the stock
holders full control over their own property. This
u the bill which the committee mas reported and
the desolation OF the Erie Ring consequently very
great This report Is the first step in the right d.
rection the Legislature has so far made and from
this one
win grow more distinct and unmistakable, do what
bribery ana corruption may to avert the downfall
Of the ROBBERS that is so near at hand. It. Will be
seen by the bill, which Is appended below in full, as
amended, that the Chief Judge OF the Court OF APP
peals is to appoint the inspectors OF election for
directors Originally the bill gave this power
to the CHIEF Justice and the Attorney
General. The last section Of the original bill,
requiring the company next June to place
their transfer books on deposit as 1t were, with
some good trust company until after the election in
July, evidently did not find favor with the commit
tee, and they consequently struck out the whole
section. The title Of the bill. as reported, Is de-
fectiye, inasmuch as 1t reads as though the Erie
Railway alone aimed at in The simple matter Of
the repeal Of the classification act, whereas the bill
cerned and repeats the classification right as far
az the Hudson River, Central and Harlem are con.
cerned well as the Erie. OF course this does not
amount to much. as the Erie was the only company
winch the Legislature OF 1869 gave these several
companies. the following Is the act as amended
and reported
chapter GIG Laws of 1853 far as relates to the
ns the o. Of their Of
yacating the Offices Of directors Of said company held
relating the elections Of directors Of said company and
The people New York represented Senate
SECTION -The act entitled chapter 1913
New York Central Hudson River Harlem Railway
psne May 90 1882 being chapter sle of the Laws
q q s ss
S
may BE- appointed to al prior the election here
naer ordered shall cease on the second Tuesday Of July
ELEcrIoN OF p1REoToRs
b held tSs once q he Erie Rsssy COMPANY he
& Of New OF wbe s Be-
nssss n writing ~ Jaass Of Court xppsss
. as.snsiea their may e asa The
ne entitled to vote either ~ or by prSHy
the regulations and provisions
highest Of a. such shall
e the Of sad for he mex.
Of the sockholdsrs said company for the cleo
in year. elected thereat shall hold their
oces for from such second Tuesday Of July No
election by this section ordered to be ned the
prevent any person from voting shares at such
10 % IN OF the ~ me
ssocR 20 0"" OF y e1'' ''' sn' '''S 'n '''A
SEC aFrom the time Of the passage Of this act until the
hons the en P ss the @
transfers of its shall be entered and the stock
S s c at The
10 s ss ef s' sn Of
Of their respective agents or attorneys who may
Ss SS Of ae M al OF
times have and keep such booxs open to such
Aforesaid shall apply and 70 allow to them
or Of er sand and
in Of refusal neglect of such president
ely BY ta section the party aggreysd thereby his
mandamus in ADDITION to any other legal remedy to which
SEC transfer books of said company the trans
fer its stock shall be closed the second Monday Of June
the o, 81 the nsna hour Of uns, that day.
In the preceding second section and at such election
son or BY proxy unless his name on
s e
Of his ac until the said second Monday OF June next In
% lice nd DC e % ss ~os 81
p,h ~ rs os
with proper Of attorney for the transfer Of the stock
ech soc on who in or
BY agent snail sSSn OF
at the Office of sad company and demand the transfer Of
books s N with the power
attorney and sad company shall thereupon issue and de-
pssOs %
.'osr 's ss1sseas:: snail sores, s..ss:soas sss
win the old ''s ceriidcates place whereof Esy
10 Be- e i've as or
ney shall request and such certificates shall be de-
BIZ or Without
able or unnecessary delay. and all events WITHIN three
days after the surrender of the old certificate and the
making OF the transfer the books and such certi
ncates be not delivery simultaneously
render Of the old certificate with the
TRANSFER
The company SHALL simultaneously with such surrender
and give upon request entitled to such
new cernca'e or mis- agent or attorney receipt ccrth
cate executed on its behalf by its transfer other
proper officer by appointed for the purpose evdencng the
gnt OF such person TO receive such
hs can De made out. No stock certificate said
pany WHICH. during the period above speci6ed in this
eectlon Tor the making of transfers, shall be
presented or left at the Office OF said company transfer
- shall be seized subjected the operation OF
on or recevcrsbip any legal process
unless be process founded upon regular hna judgment
sGhnh tne owner OF such stock thereby
OF any new stock certificate 10 there
LOT a. be seized or subjected 20 the operation Of
cess or proceeding. uniess IL be an execution or
other Process iounsed upon regular final judgment