Smyrna times., 1872-03-20
The Great Erie Ring"

The corrupt parties In New York City whC
controlled the Erie railroad, headed by tn,
notorious Fisk while he lived, have come r.
grief iD the general smash-up of the ''rings'
in that city, and the road is now controlled b1
honest men. The Philadelphia Ledqer saws
Under ordinary circumstance, the going ou
OF one set of directors of railway corporatior
and the going into Office of another set wonId
excite but little attention outside of those i'm.
mediately interested in the business of the
company. But when the corporation involved
is the nOtoriOus-nOt to say infamous-''E -
and the outgoing set are Jay Gould and his
confederstes, composing the 'Erie Ring y
whilst those going into office are men like Gene
rails John A. Dix and George B. Mcclellan
snd their associates, the event assumes a
broad interest aud Importance. The old Erie
gang, of whom Gould and Fisk were the
leaders, had taken possession of one of the
great trunk lines ofrailway, representing a capi.
tai OF S35.OOO,O0O by proceedings not a whit
more honest, and scarcely less violent than
those employed by highwaymen. 1t is but
Little more than four years since they took pos
session, and In that brief period stocks bonds
and property OF the company, or oblipations
issued in the name of the conlpany. 10 the
amount Of fifty to sixty millions of dollars have
been converted and used by the Gould and
Fisk regime IN ways known only to themselves
and 1t Is alleged that over ffty-one millions of
tne money are unaccOunted for to the stock
FOLDERS. They have purchased or compelled
Whatever legislation they demanded for the
execution OF their nefarlous designs; thew have
corrupted the Courts of New York. and no in.
considerable portion OF the bar of that citv :.
they mad entreDched themselves so strongly nv
means OF their pIundeIed millions, that Justice
WasunObtanable by the victimized stockholders.
tnpy had plundered in the most sham less and
ae1ant manner the owners of their stock held
10 England, harassed them with corrupt litiO,.
sIOn, and shut the doors of the New York
SIate courts IN their faces they had demora
I1eq Stockh0lders, stock operators, railway
elerKs and othclals, and young men generally,
y tne glamour of successful audacity, which
'sey had thrown over their violations of law.
'. uOuoTI OF honesty, and even common de-
Orncy' ihey had enthr0ned vice and immor.
Jl'y :, Ol al grades In the buildings occupied by
.nsn ,oInces and, beyond all this, they had
o'use1 american railway securities to be looked
upon with suspicion and distrust, and had
brought shame and repr0ach upon the Ameri
oan name everywhere throughout the civilized
%orq ouch an event, therefore, as the custer
~ oo1y OF men against whom all this is truly
.;na'geu' .; and the recovery of such corpora
.'Oh @ from such hands, by the substitution of
INWnOSe Ien whose names are sufficient guarantees of
.:o"esV ana honor, Is public event of great
e"uCSSuce, over the occurrence of which men
Iy"1ere IN this country may well cOngratu-
,a'e each other, as they did last week when the
news OF the revolution" in the Erie Board be-
came %, generally known.
Inc means by which this revolution has been
"oug1t has already been partly described in
Ia GI EeoIumns 1t is remotely the work of the
nugl:h stockholders already referred to- Their
sa sAperlence OF New York courts had been so
&c of'e[e I that they fell back upon other methods
a. a. ootalning justice, and in this they had the
H. o,o operation OF American stockholders. For a
SS.s une negotiations have been quietly going
;o.;.ec "aru 10 procure the aid of working ma
l30rlty of the Erie Directors. who. althonph in
ToqIds " own Board, had but little knowledge
~ MS operations, and much less control over
Sue9i' Though at any time in the last three
a. ona iI9r months they could have outvoted him
~ s"a MS set, they were too much afraid of him
of ~; pt IT, Advantage, however, was taken
~ S - known dissatisfaction to undermine him.
MI u: director after another was brought over,
RI" "ihe OF them, clear majority of a full
of I'D nau agreed to cooperate with the party
;n,o IMeIorm' M Six OF these had gone so fully
,.o. tne WORK as to agree to resign, and make
10y Ior directors to be nominated by the new
Raddy and, among the latter, we're some who
G"S 'u peeh heretofore the plant instruments of
co,uHr UulI ana Fisk. Thus much having been ac-
Of os,pnS16eu' nothing remained but a meeting
mali !. board to accept the designations and
inc i~ oos1e me new elections. But no stated meet
fnsoJ SUalu y. be held before April, and Gould re-
Il Wa. ~ cal special meeting. At this time
more a.nsG discovered that Gould was about to sell
Jes;sIp'..ock Ip.ock or bonds, TO be used in the Albany
f"ron S".ore that body, and il was determined TO
be boia special meeting. This was called. to
tSo ge r9id W: on Monday March Ilth' at noon. by
io;nad nc ~ resident, U. H. p Archer, who had
EaIJ ESu % sne Keforners. That meeting was
Tela n;n amidst all sorts of embarrassments : the
ont "e - VINO mad deserted Gould we're ordered
oriarad ie building platoons of police were
f,o", fCofeu IN the old artillery of ''iniunctions"
All convenient Judges was again resorted to,
H. writs were fourished in the faces of the
I'm, tI oy Goulds interruptions attorneys.
ssa; 1.ie stout spirit of Reform was proof
az "Ss y, an such Resistance, and the work went
ali ~ ne nrst thing done was the dismissal of
Case we ola lot OF lawyers and attorneys; next
bv el" sen DIX was placed in the vacancy caused
= 'he death Of Fisk then G. G.. Sisson re-
sSd sSIsned and General Mcclellan was placed in
sras s vacancy; and so it went on, one after
sSss1 s,So.ner OF the old Board resigning, and one
nn.a another Of the new men being elected,
N'iI,l ~ the Board was thoroughly redeemed.
mus the destruction of Tweed Tammany
;,s ;,ug has been followed by the destruction Of
tSo 'wln WIN monster of iniquity and corruption,
sn;.;. Ere Ring and thus the awakened
a. spflt OF Reform" is marching on with victory
~ every step. Those who have counted, or
~ hbaer nlsscounted on the patient submission of
"netner In municipal or other corporate corrup-