New-York tribune., 1872-03-04
ERIE FUTURES AGAIN.
THE ERIE swINDLERs DEMORALIZED-A NEW
DODGE-ATTEMPTS TO BRIBE THE Press
MORE SWINnLING OPERATIONS.

THE ERIE sWINDLERs DEMoRALIZED-A NEW
DODGE-ATTEMPTS TO BRIBE THE Press
MORE swINDLING OPERATIONS.
The exposure made by The TRIBUNE of the
multitude of private rings inside the infamous Erie man.
agement nv which the Directors cOnhscate the profits
of the road has produced CONSERVATION In the camp OF
Gould and Lane and opened the eyes OF many who hes
tated TO believe the truth OF current stories. The only
remaining hope Of the managers is In securing majority
of the Assembly against the repeal Of the Classification
act and other by which IL is sought TO bring
them to Justice The Assembly Committee has it is now
rumored decided report i'll favor of repeal The SEN
ate Committee will find below additional facts to induce
il TO come TO the same cnnclnsion
The ;,rtiIiun sWlnde having been Thoroughly eX-
posed, the latest attempt to influence leg's2'!"%,
aside from the unlimited OF money, Is by of
popular meetings in along the road. These meet
ngs are worked up by parties in the interest of the
present managers; speakers retained, the
ment Of the road eXuayaganty praised, and
resolutions, drawn by an Erie counselor in
advance, are rushed through by the votes Of
employees and deadheads with no opportunity for organ
zed opposition the part Of such citizens as still retain
prcjudCes favor OF honesty. Such meeting was held
few days since at Dunkrk but the customary resOlu
tons were not adopted without protest from Judge
Steward and Others although local paper pronounces
them true expression of the feelings Of the mass Of
our citizens"
The recently exposed attempt Fisk, Gould and Lane
~
advocate their interests only one of many such en-
deavors. When il known that Reform" Legisla-
ure had been elected and that bribery would probably
be effective than usual at Albany, 1t Is reported on
good authority that shrewd agent was sent along the
line of the road TO secure the assistance Ofthe local press
What he achieved may he inferred from the fact
that so many local papers loud in their panegcs Of
the present management and unanimous III their oppo-
son to legislative interference with the affairs Of the
road
In addition to the numerous methods of bleeding
the road of which THE TRIBUNE has spoken theYe are
many others which have not yet been made public.
When Fisk Gould & Co. came into power the Company
had fine reparshops at Dunkirk. 1t said that these
were closed and leased at low terms to former master
mechanic of the road who was then employed 10 make
locomotives at his figures. In this way the Com
pany pays cXIavagant rates for work, and somebody
reaps profit at the expense of the stockholders Jay
Gould is said to own half of these works, and engines
which once cost only $4,000 not be obtained for
less than s7OO 1t further said that this company has
mortgages on a large Share of the locomotives on the
road. which will be fOreclOsed when Gould d Co. are
ousted.
Another concern in which Jay Gould owns half an In
terest is certain slateroofng establishment This firm,
In which Mr. Gould has half interest, obtained con-
tract with the Erie Railway, OF which Mr.. Gould Is
chief TO slate all the buildings Oh the ne OF the road'
At HorneIsve, one building was slated twice during
the same year.
A former article In THE IRIBUNB on v EIle NuItmts,
exempted Director Henry Sherwood Of Corning so Tar
as known the category Of those interested IN PHI
yate speculatiOns the road II turns out however
that Mr. Sherwood, and a resigned director named
Drake are partners with Gould and Eldr1dge IN the
Rossburg Coal COMPANY The other partners are Henry
Cook OF Bath F. c. Dunnng Of Addison, and M. p. Bush
10 Ruflo Half the stock is owned by Gould, some be-
ING in the name Of Eldridge in that OF Supern-
tendent Pratt Of Emira and in that OF Mortimer
Smith, Assistant Secretary Of the Erie Road The cOai OF
this company for years drug in the Market con-
demned by employees of Erie up TO the time Gould De-
came interested in it, and is pronounced inferior by
the NewYork Central and the large iron WORKS OF the
State Many Of its stockholders had offered to dispose OF
their interests below par. Sherwood, Drake, ana BUSH
conceived the idea Of an alliance with Gould, and by
somewhat sharp practice managed to rid themselves OF
the other proprietOrs, and secured the willing Gould
The name OF the company changed, and contracts
made with Erie for at least half the coal they would re-
oure for 20 years. higher than market rates Gould,
with his many other jobs has not time to see that Erie
carries out part of the contract and consequently
Sherwood and Drake by his instructions, were elected
Directors TO watch the interests OF the Coal Company
as the other Directors OF Erie watching other private
speeulatiOns.
The Erie Company owns the TOwanda coal property,
which their engineer admits will be exhausted In about
ten wears but Gould sells the coal in the general market
at ruinOusy low or course losses here VIII te
charged construction account Shearman figures It,
Coal men suppose that the object in sacrificing tn coal
the property OF the roads that the mines may sooner
become exhausted and the supply from the road come
from the Bossburg Company In the meantime. as the
production of Towanda is limited, the more Of that pro
ducton that If sold IN the general market the more the
Erie Road will want from Blossburg.
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