Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1872-03-29
The Erie Railroad Revolution.

Henry, the great London finnncier, when
he was in this city, He came here then
for the purpose of trying to effect some
arrangement by which tho English stock
holders should have some sort of voice
in the management of the road and in she
division of its profits. He found Gould
and Fisk utterly impractlcable men to deal
with-thc former being entirely controlled
by the latter. He also ascertained that
the Courts and the Legislature were in
: the pay of the existing management of
the road, and that, consequently, he could
hope for no redress at their hands He re-
turned to England resolved to bide his
time. He continued to retain his control
of Erie stock, and strove to get as much
more as he could. 1t Is believed that
Heath and Raphael, in their suits against
Erie, were but sprats thrown out by Nc
Henry to catch the Erie whale. However
this may be, certain it is that MclIenry
has never ceased TO scheme for the re-
moval of Jay Gould and the Board of Di-
rectors which operated with him.
To this end he secured the services of
General Sickles, whose familiarity with
New York affairs, and whose legal and
administrative abilities, were well known,
to come to this country and overthrow
the Erie dynasty. Sickles came-his ad.
vent in this country being duly chroniclcd
as having some political significance
Immediately after his arrival he went to
see the President, and took him into his
confidence. He stated to the President
that the management of Erie was Il scan
dal to the whole nation that 1t made
American securities of all kinds mock
cry in European markets. All our rail
road bonds and other corporation securi-
ties were looked upon with distrust and
that in consequence of these outrages
having been permitted so long, Govern
ment securities were beginning to be
looked upon with suspicion. He repre-
sented that the difficulty encountered in
placing our five per cent. bonds abroad
arose principally from the manner in
which English moneyed men had been
swindled by Erie.
In short, General Sickles represented
to the President that the redemption of
the Erie Railroad, from the control of the
gang of swindlers who were running it
simply for their own profit, was national
necessity
He further informed him that he had
csme home with full power to do what
ever was necessary to accomplish this OBJ
iect, all he asked was that the President
would permit him, the United States Min
lister to Spain to perform this task, and
grant him ninety days leave of absence
from his mission in which to do it.
The President, after full understand
ing of the case, heartily approved of the
idea, and not only authorized General
Sickles to proceed in the business, but
pledged himself to secrecy. SO well did
he keep that promise that it is doubtful
if single member of his Cabinet was
aware of the reason of General Sickles'
protracted stay in the country.
The President was the more ready TO
enter into this scheme for the reason that
the Government itself has a bone to pick
with Erie. This bone is similar to the one
over which the Government and the New
York Central Railroad have been contend
ing so long, viz: the Withholding of pay
ment of the full amount of revenue tax
under the law. The tax due from Erie is
believed to exceed that claimed from the
Central road, and that is upward of ST.,
000 000 Just before General Pleasanton
was suspended from office, he had com
menced an investigation into the affairs
of Erie, for the purpose of recovering this
tax; but nothing was done after he was
suspended. / know that some of his in
formation at that time was derived from
I of thus getting view of the Erie ac-
counts.
How General Sickles effected his grand
coup, and ousted Gould and his confeder-
ates, on Monday, you have been inform
ed; and also how on Tuesday, Gould sur
rendered on the battlefield retiring with
as much grace as possible. That he was
allowed to retire so easily, and without
being prosecuted for his misdGeds, was
owing to the fact that he had as fine an
opportunity for commencing prosecutions
as his opponents.
So instead of prosecuting Gould for
his many malfeasances, General Sickles
thought best to compromise with him,
and, in lengthy interview which they
had on Tuesday, this compromise was eff
fected. Jay Gould thereupon summoned
the old Board of Directors, and they pro-
ceeded to ratify the revolutionary action
, of Monday, accepting the designations of
Directors as fast as offered and filing the
places with the men who had been elect
ed by the other Board. This done, Jay
Gould resigned the Presidency; hisresig-
nation was accepted; General Dix was
elected his successor, and so General
Sickles' revolutionary action of Monday
was legaliZed on Tuesday. herecords now
show that Jay Gould resigned instead of
: being removed, and the records of Tues
days meetings are accepted by both par
ties to the conflict as the only legal rec
ords of the week. II was bold game
which General Sickles ventured upon,
and at one time threatened to lead to a
riot. During Monday both parties had
1 summoned to their assistance from two to
three hundred men each, and many OF
5 these were "spoiling for fight''-being
l of that ruffianly clement which would
Y ''rather fight than eat" The large police
: force in attendance was in sympathy with
t Jay Gould, and had he but ordered the
t building to be cleared there would have
G been bloodshed on the instant.
] Another bold thing for the reorganizer'
i to do was to totally disregard the injunc
ton which Judge Ingraham, Of the Su
g preme Court, had issued, restraining
v them from taking any action on Monday
l. When Gould's counsel undertook to serve
d the writ, it was torn up and thrown il
c his face In thus defying the Supreme
> Court, General Sickles, who knew thu
a writ was issued, relied entirely upon pub
y lie sentiment to sustain him. And tina
sentiment has done so, for Erie corrup
n tions and Ingraham injunctions are sucl
9 a stencil in the nostrils of the body poll
n tic that, had Sickles hung to lamp-post
II everybody connected Herewith, he woulC
!. still have been sustained.
O A man who has been of the creates
II service to General Sickles in this move
e ment is Mr. George Crouch and he is de
i serving of some notice. Six years ago
knew him as proof-reader on the Daa!
Times, where he read proof all night 70
;, the modest salary of $18 per week. II
!. had some talent for drawing, and, Will
% in the proof-room, made some caricature
u of public men and events, which wer
y published in one of the Illustrated papers
5 He next turned up as a reporter of tn
. Herald, and, while Bohemanizing, wrot
" some articles pitching into the Fri
u management This brought him t,
y the Erie offices for information, an,
Is here he encountered Jim Fisk. Fisl
took fancy to him, for some reason, AM