The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-03-15

1 u
aged-The Row at the opera-House-
Final Surrender OF Gould-Complet,
Victory Of the English Stockholders
The New York papers of Tuesday come tt
us filled with the detailed accounts of the rev
olution in the affairs of the Erie Railroad
whereby Jay Gould. president of the road
and the old board of directors were oustet
from their positions, and new president, IL
the person of General John A. Dix, and new
board of directors, were elected. From these
accounts we make up the following resume o.
the events attending this occurrence, so i'm
porlant to the interests of the holders of Erie
stock.
THE ATTACK on THE RING.
The story of the means by which this revo
luton has been brought about in the manage
ment of a great railway. forms one OF tae
| strangest romances of finance. The Erie
Ring, which was itself conspiracy, has peer
overthrown by conspiracy, which has taken
many months of skiltul plotting to make sue
cessful. The history of it, in brief, is best
| begun by recalling the announcement Of De.
cember 16, 1871, to the effect that General
Daniel E. Sickes was returning from Spain in
Erie to make another effort to- rescue the road
from the rule of Jay Gould and Fisk. The an.
nouncement then made was generally regard.
ed as unfounded; but yesterday General
Sickles appeared publicly as the master spirit
who had directed the campaign against Erie.
and had won It.
Immediately on his return General Slckles
quietly but actively began operations. his
first movements were directed against the
legal and legislative strongholds of Erie, and
these he found very formidable indeed. The
movements against the legal and legislative
strongholds did not therefore, promise bril-
liant or Immediate success, when, about FIVE
General Slckles that the undermining OF the
Ring was quicker though more dangerous
method of gaining possession of the road.
The person who suggested this scheme was q
young man, formerly journalist, named
George Crouch. Intimacy with Gould aud
Fisk, and long service under their Ring, had
given Crouch an evil reputation. He was
of the Ring, and was generally understood to
be the mysterious English stockholder who
figured In various suits and financial schemes.
Crouch represented to General Sickles that
many of the directors of Erie were antago-
nistic to Gould, though afraid of his great
power; and that majority of them could be
induced to combine against him. He dls;
him fully, and through him and others Inter-
views were had between General Sickles and
the disaffected directors. This was only &C.
complished with the utmost difficulty. The
directors were as distrustful of Sckles as of
Crouch and Gould, and insisted on secrecy In
the negotiations, though General Slckles de-.
clared his readiness to go with any one of
them aud face Gould and his minfons and
reveal his purpose. But each declared him
self fearful OF Gouds power, snd the com.
bInatlon was consequently made with the
greatest secrecy. The first to enter into
the scheme was o. b. P. Archer,
who was secretly elected viee-pre9ldIs,1,t II,l,t
death, In anticipation Of the latter's arrest.
Archer had plainly told Gould that he accept
ed the vice presidency to serve the interests
of the stockholders. and this made Gould dis
trustful of him. Mr.. Hall was the next dlrec-
tor with whom an interview was had through
former aide.de-camp of the general. He,
top for sSeS teraiy %a but FOR
q good purpose. Homer Ramsdell was next
approached, but he was exceedingly timld,
and 1t was some time before he could be in
duced to enter Into conference. Finally IN
this way co onblnatlon of eleven directors
against four was formed, and the opposing
factions stood thus:
For Sould-Jay Gould, president; DR.. Edwin
Eldrldge, Henry Sherwood, Francis N. Drake.
Against Gould-0. II. P. Archer, vice-presi.
dent; John Hilton, c. R. Slmons, Geo. G. Hall,
Henry Thompson, 81. Fl. Otis, secretary; Ho-
mer Ramsdell, c. G. Slsson, Justin D. White,
treasurer; Frederick A. Lane, John Ganson.
On Friday night the "conspiratorsn discov-
move at Albany. His agent there had told
him that more money was necessary to defeat
the repeal OF the classification act, and that
the enemies Of the Ring were paying two dol
lars for his one. He thereupon resolved to
throw large amount OF stock on the market,
raise two or three million of dollars and buy
up the Legislature bodily. The combination
direction, to act at once, and on Friday last,
In the temporary absence of Gould, Issued q
request for q meeting. OF course Gould,
being absent, was not found, and no pnrticu-
lar efforts appear to have been. made to find
him. The secretary Of the company, Mr..
Oils, thereupon drew up letter to Dir.
Archer, from the other members of the board,
stating that they were unable to communicate
with the president of the road, and request
Ing Mr.. Archer to Issue call for meeting of
the board of directors on Monday, March II.
In response to this application, the call was
promptly Issued. Meantime General Sickles
\had arranged with General Dix, 8. L. M Bar.
low, W. B. Astor, n. o. Roberts, W. R. Trav-
ers, and others, to take place In the new d.
rectory, the designations of several Of the old
directors being insisted upon. They were In
formed Of the scheme, and directed to be
present.
THE MEETING.
The ''conspirators" were faithful to their
promises; the gentlemen who were TO be
voted in were promptly at their posts, and the
whole scheme was successful. One after
another the directors resigned, and their places
were filled amidst considerable excitement
and confusion. Jay Gould was removed from
the presidency, and General J. a. Dix was
elected In his place. After the meeting Gene.
raj Dix notified Jay Gould of the action, and,
as president OF the road, made formal de.
mand for the surrender of documents and
papers in Goulds possession. General Sickles
accompanied United States Marshal Crowley
In delivering this letter. Gould was In the
presidents room, surrounded by strong
guard of policemen.
SIEGE OF THE RING.
General Slckles approached the door and
demanded admittance. No notice was taken
OF this demand. The doors dividing the offices
were held on the other side by number Of
persons, and could not be opened. Frederick
a, Lane, an ex-director, spraDg to one OF the
sliding door, and stout, burly Individual the
other, for the purpose OF forcing them open.
Mr. Lanes strength was not equal to the occa.
sion, who gave way to reporter, who also
tugged in vain. Without instruments of some
kind 1t would be impossible to obtain access
to Gould. An ice.pIck was obtained, and the
doors slightly forced apart, when 1t was dis
covered that number OF policemen held the