Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1872-12-20
New YORK.
Jay Gould nisgorges over Millions
And Goes Unpunished.

And Goes Unpunished. =
NEW YORK, Dec. 19.-The great sensa-
ton OF Wall street to-day was the settle
ment of the Erie suits against Jay Gould,
who delivered to the company, In various
kinds of par value, nine million dollars,
worth at market price over seven millions.
One Of the conditions of the settlement Is
said to be that he Is to have the first mar
ket bid for two hundred thousand shares
Of Erie stock, hero and in London, which
he is now believed to control. The various
rumors current that the Erie Co. would va
cate the Grand Opera House, appear to be
groundless. 'i----sa 4
Fuller DetatIs--Is It q Plot?
The new Erie management completed to-
day the most notable of its undertakings.
At the meeting Of the Board this morning
there were present, President P. a. Wat
sou, ex-Gov. Morgan, Mr.. Babcock,I Mr.
Cisco, Mr. Schuchardt, Mr.. Lansing, Mr. 3.
Rsmsdell, w. B. Duncan, S. L. M. Barlow,
Mr.. DAILY, Sheppen and W. r. Travers. The
special committee appointed to take into
consideration the proposal made by Jay
Gould, looking to'a settlement of suits in
stituted against him by the Erie Railroad
Company, was submitted. S. l.. M. Barlow,
e. N. Morgan, Wm. Butler Duncan, w. r.
Travis and R. II. Watson constituted the
committee. The report presented was very
long, embracing the full terms of the offer
made by Gould, and concluding with re-
commendation that the proposition Of set
tlement be accepted. The result will be the
withdrawal of the suits pending againss
Gould upon bis surrender to the Board OF
Directors Of securities amounting to 50, ,OS6,-
600, which sum, according to the opinion OF
members of the specid committee, will
cover the total anount for which the vart-
ous suits have been brought.
The terms Of settlement with Jay Gould
include the transfer of sixty thousand
shares of Erie stock, the grand Opera
house and q number of lots of valuable
land, amounting to fully seven million OF
dollars at current values. IL 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 two hundred thousand
shares on which he expects to make more
money than he surrendered TO the COM
pany. This statement was confirmed by
Gould himself this afternoon, who also
said that there was an understanding that
be was to be consulted on matters Of import
ance in connection with the business of the
road. He thinks that the arrangements now
will enable the company to lay third raj
on the Erie road to make an alliance with
the Lake Shore railroad. 1t is also stated
on other authority that the money derived
from the sale of these securities is to be,
used in laying third rail whereby the mar
row gauge roads OF the West may have an
other outlet TO New York without breaking
bulk; an further, it is reported that Gould
will throw his influence in the Northwest
company in favor of bringing its traffic over
the Erie when its third rail is laid.
There is a large short interest In Erie
shares, and it IS suspected on the street
that Gould will work Erie like Northwest
ern common and eventually tNistrthe Oper-
ators on the bear side. It is also said that
the claim of the Erie Railway against Gould
was reduced some $3.50, 900, on the dis
coVery that he had turned over that sum
from the proceeds of 10000 shares OF ET1e
stock to the company. The entry did not
appear in its proper place in the Erie books,
| but it was at length discovered and the
sum allowed.
5. l.. NJ. Barlow stated to-day that the
property surrendered by Gould is estima-
ted to be Of actual cash value OF from six
to seven million dollars, and worth to the
Ere Company the full amount bits claims.
| The necessary writings we're making at his
| office, and the securities will be delivered
to-day. Barlow said Gould received no
| equivalent whatever except the abandon
ment Of the claim against him by the COM
pany.
| Various opinions are given as to the cause 8
which leds to Gould's surrender, some be
Leving he had no other resource, and Others
that it is part Of deeply laid plan to regain
some of his lost influence over the Erie
Railway. The friends Of the road declare
that the semtannual dividend on preferred
stock will be pad as usual. s7
The Grand Opera House.
The foreclosure suit brought against the
/ Grand Opera House is to collect the ba-
lance Of q hundred thousand dollars due
Nov. !, with interest from Aug. 7, 1872,
and is in the name Of Ellen Pike, the hold
or of the mort gage and was brought before
the death of S. n. Pike, her husband. The
mortgage is not connected with the Pike
estate as the property therein belongs to
Mrs. Pike solely. -.H .-'"e ~
Two gold broker firms are reported sus-
pended to-day. ' @ --I'l
The Stokes Trial.
Nine jurors have been now obtained in
the Stokes case. -..-..' -
A Joke ON Prayer-Test TsyndalI.
While Prof. Tyndall was lectnring Tues
day night burglar got into his room at the
Breyoort House and took a purse Of gold
containing forty pounds sterling. .a.'sh
r.r.,. The Cable King 81. g.:
Yesterday, Cyrus w. Field bought out
| the interest of considerable number OF
holders of the stock in the New York, New
Foundlspd and London Telegraph Compa-
nv, amounting in all to about three million
dollars. The price paid is 80 cents on the
par value of the stock. ' r. p '7a"f
Fashionable wedding. IT,
One of the most fashionable weddings Of
the season took place to-day, that of Judson
Jarvis, Clerk of the Bureau of Arrests, to
Miss Mamie Brennon, daughter Of Sheriff
| Brennon. srHa sIr -afs- .7 sIss ro.I Is-
WHAT BURIED HERCULANEUM?
What was the fate of Herculaneum du.