The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1872-12-20
NEW YORK CITY.
Jay Gould Compromises with The
Erie Company for s9, 900, 900.

took action looking TO the reorganization
OF the committee appointed to select mel
to represent the different wards In the as
sociRtion.
81. NJ Barlow says that If the EriC
company accept any proposition from JOY
Gould for q settlement Of the claim
against him 1t would not be Ior les!
sum than $0,OO00O0,
AT Flushing, Long Island, last night, g
large amount Of valuable property was
burned. The fire originated In elements
q Bloodgood's grocery. During the fire
the chimney fell, bufying in the ruins q
man, who was instantly killed, and scri,
ously injuring o boy. The greatest ex.
cltement prevailed among the people, who
feared general confagration. Five
buildings were demolished at one time Ia
stay the flames. LII,
II is stated that the suits Of the Eric
railroad against Jay Gould vii be aban-
doned, he agreeing to refund $9,00eOOC
to the Company.
Two gold broking firms arc reported
to have suspended today.
Blk Jurors have now been obtained on
I a
the Stokes trial. -rs..s-, -,a.zrra-ss-z7-
The new Erle management was com.
pleted to-day, the most notable of its tln.
dertaktngs. AT the meeting of the board
there were present the President, ~. IL.
Watson, Ex-Governor Morgan, MIR. Bah,
cock, Mr. Cisco, NJ. Schuchardt, Mr.. Ian.
sing, Mr. Ramsdell, W. B. Duncan, S. L.
NJ. Barlow, MIR Day, Dir. Shipnen and
William x, Travers, A special commit
tee was appointed 10 take into considera.
tlon tue proposal made by Jay Gould
looking 10 the settlement OF the suits in.
situted against him by tho Erie Compa-
ny, and =. D. Morgan, WIN. Butler Dun
eau, ", x. TraverS, and p II. Watson
constituted the committee. The re-
port presented was very long one,
embracing the full terms of the offer
made by Gould, and concluding with the
recommendation that the proposition OF
settlement be accepted. The report was
adopted. The result will be the with.
drawal OF the suits pending against
Gould upon the surrender to the board of
directors OF securities amounting TO
$9,OSG,OO0, which sum, according 10 the
opinion OF the members Of the Special
Committee, will cover the total amount
lor which the various suits have been
brought The terms Of the settlement
with Jay Gould include the transfer OF
six thousand shares Of Eric stock, the
Grand Opera House and a mum.
Der Of lots Of very valuable land,
amounting to fully seven million dollars
at current values. 1t is stated that before
this thing was Consummated Gould was
allowed TO pick up all the Erie shares he
possibly could in this market and at
London, and that he is now the owner of
something like 100000 shares, On which
lie expects To make more money than he
surrendered TO the company. This state.
ment was confirmed by Gould himself
this afternoon, who also said that there
was an understanding that he was
to be consulted on matters OF Importance
IN connection with the business of the
road. lie thinks that tho arrange
ment will enable the company to Law a
third rail on the Erie road to make an al
lance with the Lake Shore Railroad. 1t
IS also stated on other authority that the
money derived from the sale Of these &C..
clrlties is to be used in LAYING the third
rail, whereby the narrow gauge roads of
the west may have another outlet to New
York without breaking bulk; and further
It IS reported that Gould will throw his
influence in the Northwest in favor of
bringing lis traffic over the Erie when its
third rail is laid. There is u large short
interest In Erie shares, and it is sus.
pected on the street that Gould
will work the Erie like he did
Northwestern common and eventually
twist the operators on the bear side. Il
Is :also said that the claim Of the Eric
Railroad against Gould was reduced some
$3.50, 600 on the discovery that he had
turned over that sum, the proceeds of 30,.
600 shares oil Erie stock 10 the COMPANY,
The entry did not appear in its propcr
place in the Erie books, but 1t was at
length discovered and the sum allowed.
MIR. Barlow stated to-day that the proper.
~ surrendered by Gould is estimated to
be Of actual cash value OF from six TO
seven millions dollars, and worth TO the
Erie company the full amount of its
claim. The necessary writings were max.
ing at his office and the securities would
be delivered TO day. Barlow said Gould
received no equivalent, whatever, except
tho abandonment Of the claim against
him by the company. Various opinions
are given rs TO the causes which led To
Gould's surrender-some believing that
he had no other resource, and others that
II is part OF deeply laid nlau to regain
some Of his lost influence over the Eric
Railway. The friends oil the road de.
clare the semi.annual dividend on prefer.
red stock will be paid as usual.
In the matter of Thomas st, John
against the Erie company, in the United
States Court, Judge Blatchford TO-DAY
filed his decision. St. John sued the
Erie Company for dividend on shares
OF the preferred stock Of the company
held BY him on the ground that this stock
was entitled 10 seven per cen,
dividend before the interest was
paid on one million sterling bonds
issued In 1865, and before the rent was
paid on any leases taken since January
!, 1862, of any roads worked In connec,
ton with the Erie. Judge Blatchiord
now decides against the claimed priority
Of the preferred dividend, and holds thai
preferred stock is not TO be entitled tC
priority over anything but common stock
and dlsmisscs the case with costs.
Nine Jurors have been obtained In the
Stokes case.
Tue property in tho office of Robt