The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-03-11

Breeze In Eric-Will the Honest Directors
stand from Unders

Breeze In Eric-Will the Honest Directors
stand from Unders
There are some honest and responsible
citizens on the Erie Railroad direction. They
do not share in the operations and the plumber
Of the Ring, and are said to be powerless to
prevent them; yet there is no doubt that they
are legally and morally responsible for
all the acts of their associates. If Gould,
Lane, Eldridge and their immediate allies have
misapplied the funds of the road, such direc-
tors as Homer Ramsdell. George G. Hall, G.
J. Sisson, Justin D. White and John Gauson
must become individually and collectively
accountable to the stockholders for the de-
dciency, 1t therefore becomes an act of self
preservation on their part. as well as duty
to the community, to expose and resist any
dishonest or improper practices on the part Of
their associate directors.
We understand that a movement is
about to be made by some of the direc-
ton, including those we have mentioned,
to procure reckoning at the hands Of Gould
aud Lane. The questionable manner in which
vouchers and checks are drawn by those
officers of the road in payment of the services
Of spies and corruptionists, as developed in
the documents recently published in the
HERALD, has alarmed the more scrupulous
directors, and an investigation of the accounts
is desired by them. We will suggest, if an
inquiry be made, that the directors de-
mand to what purpose Gould applied the
sum Of one hundred thousand dollars drawn
in ope amount on q voucher for illegal expen-
hes," about this period of tue Legislative ses-
sion of 1870? If Gould should refuse to
answer we may probably help them to the
information ourselves. Let them also ascer-
tain for what actual services A. D. Barber,
well-known lobbyist, drew from the treasury
of the road, about the same date, two
sums of forty-fve thousand dollars and
ten thousand dollars respectively, on
vouchers for 'legal expenses" although
he Is not member of the legal profession,
and what legal costs were paid by William M.
Tweed to the amount of ten thousand dollars
at the same time. The expenditure of one
hundred and seventy thousand dollars for
legal expenses within the space of six weeks,
during the height Of legislative session, GER
tainly seems to require some explanation, and
if necessary the directors Of Erie may be sup
piled with many Of these professional items
even without the aid of President Gould.
The honest directors of the road are not
moving too soon. They have not been in the
habit of drawing vouchers for enormous sums
for advertising and legal expenses and mis-
appropriating the money of the stockholders.
They have not revelled in dissipation and
luxury on the funds of the road. Yet when
the crash comes-as come it surely must
and will-they will be held responsible in
civil and criminal proceedings as co-directors
with the men who have thus abused their
trust. If they would save their properly,
their reputation and their future peace, let
them at once shake off the burden Of the cor
rupt ring and escape any further damage from
the association in which they have become
entaugled