Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1872-03-21

kill railroad at the same time. EIdridge
having got the money in this unjust way.
resigned his position as president of the
Erie railroad still retaining his position
as treasurer thing that is not known
on this continent. There Is no such 9th
! er case in this country where the offices
of president and treasurer are combined
i'll one person, and it is all the more ex-
traordinary when it occurs in a great
and powerful corporation like the Erie
railroad company.
ELDRIDGE'5 LITTLE GAME.
Did Eldridge give any equivalent for
the money which he took from the Erie
railroad company"
Yes" said the little man, with a
laugh; she turned over four millions of
bonds of the Boston, Hartford and Fish
bill road, of which he was president, to
the Erie Ring scoundrels, and thus made
himself liable to punishment for felony
Look at the villainY in this case. The
Legislature had provided that the ayails
of the $10,000,000 should be used in
double tracking and extending the road
to Chicago by other connections. Over
one million was paid to settle a stock
jobbing debt. | will give you a rescript
of one check, as follows:
VERY BIG CHEcK-ERIE RAILROAD
COMPANY.
No. l,09j. NEW YORK., july IL, 1865.
MANHATTAN COMPANY
Ray to the order Of Jay Gould, Treasur-
ci,hve hundred and forty thousand dollars.
$4,000. E. W. BROWN, Asst Treas.
ii. \. OTIS, Sec'y.
Two days before Frank Work re-
signed az director two weeks after, on
the Both OF July, 1868, Eldridge resigned
as president of the Erie railway compa-
ny, and, the thing having been fixed very
nicely, Jay Gould was elected president
on the same afternoon, and, in twenty
minutes after, Fisk, Lane and Gould,
by a spring trap arrangement, were
elected as three of the five members of
the executive committee.
TIE STOCKHOLDERS FORCED TO BUY AN
OPERA HOUSE.
Out of the money obtained in this
illegal way, 100000 was paid for the
Grand Opera House, of which the late
Mr., Fisk became Il manager. They had
their French and Italian opera singers.
their ballet, pantOmime and spectacular
representations. The streets in the Vi
cinity Of the Opera House were covered
y
the Erie railroad company were made to
pay eXtravagant rents for offices; Fisk
had his boxes and houses adjacent, from
which there was a private connection
between the box and adjacent house.
and dancing women passed to and fro
through the passage During the hours
of the day there were dancing and mu-
steal rehearsals, and the boards resound- |
ed to the tread of ballet girls and the
echoes of operas and songs, and all sorts |
Of stringed and wind instruments. |
These Sardanapalian performances tend |
ed very much to demOralize the numer- |
Gus young clerks who were employed at |
their desks in the offices of the Erie rail /
road building.
a RAILROAD PANDEMoNIUM
Besides it was virtually destructive
to the interests Of the Erie railroad com |
pany. In the minds of these young
men there was a tumble Of Erie, opera |
singers, ballet girls, passenger trains
and way stations"
"Wcll, what resulted after this Z"
Il wish to correct myself in regard to
the amount which Eldridge received !
from Gould. | said it was $4,000, 900: |
instead it was S5,000,000 Gould re-
ceived for this S5,000,000 those Fishkill
bonds to which l referred. \ portion of
these bonds were endorsed by the Erie
railroad company. and were negotiated
by Gould and Fisk, and the proceeds
were used in building road from Car
bondale to SusQuehanna, Pa
ANOTHER RAILWAY SCHEME OF aoULD's.
This road was known as the Jeffer-
son railway, wholly built out of the five
millions of fshkill bonds endorsed by
the Erie railway. This proceeding. as
any lawyer will tell You, was entirely
without warrant and wholly illegal. At
ter the completion of that road Gould
and Fisk personally divided 81. 600. 900
Of the Jefferson railroad stock, each TAX
ing One-half. The executors of Fisk's
estate. not more than ten DAYS ago. were
trying to make sale of this Jefferson
stock as a part of his estate. Each
share of it at par would be valued at
500 in New York. Mr. Oliphant. pres
ident of the Delaware and Hudson Ca
nal Company, | have heard. was offered
some of this stock
GOULD TRIES TO TAKE AWAY MRS. FIsK's
ESTATE.
Have you heard any rumor that
Gould was lately endeavOring to wrong
Mrs. Lucy Fisk by manipulating Nara
ransett stock
Il cannot answer that question
Have you heard a rlmOr that Mrs.
Fisk, being unable to pay very large
bills which came in to her after the
leath of her husband, had been en-
trapped into selling .One-quarter of the
stock Of the Elmira rolling mill left TO
ler in Col. Fisks will 2"
IAMsEY REFUSES TO RISE AND ExrLAIN."
Il have heard many rumors Of the
lind, but cannot certify to their truth. " ,
What further Of the ten millions of
lollars?"
Simply that the entire amount was
and converted to the ,
Use of Gould, Fisk and Eldridgc. Not /
content with this Gould, in person. com {
nenced to increase the convertible bonds ,
without the least shadow of authority. 7
md converted them into stock until the !
common and preferred stock of the road +
rom $50, 900, 900, was increased to S75.- I
100, 600, put on the market and sold be- (.
ore the public had any knowledge of
his enormous increase. Those purchas-
ng at the time supposed they were pur- {
hasing some of the ordinary common {
took of the company issued to an extent 7
by law
low STOCK swINDLING WAS MANAGED.
"Mr. Ramsey, many of the readers
f the Hera5d are puzzled to know what
he process is by which stock is issued"
''Well, in thisinstance the bonds were q
sued by Gould, president and treasur- a
T. mind you, of the Erie road, to his n
wn brokers' firm, Smith, Gould & Mar +
n. He was the Gould of the firm. +
nd the bonds were issued to himself and a
} the firm Of brokers III his employ. h
nd by them converted into stock and n
laced upon the stock ledger Of the /
.ric road in the name of his own brok- &
rs firm and the others employed by 4
i'm. >" .
''Will you give me the details of the :.