New-York tribune., 1873-02-18
Vanderbilt AND ERIE.

THE STRUGGLE FOR THE CONTROL OF THE Bos-
TON, HARTFORD AND ERIE RAILNOAD-A
CHECKMArE TO THE LITIGATION.
II a statement which obtained general ciTcu-
lation in wast yesterday, s confirmed another inter-
esting chapter the history of Erie about 20 begin
For time past the present managers Of the Bos
ton Hartford aud Erie Railroad Company, which has
been 40 intimately connected with the fortunes
Of the Erie Railway Company have been devsiHg meas
ures whereby IL might be freed from the heavy load Or
debt which has been fastened upon by maadminstra
ron and they be relieved of the responsibility which
they had voluntarily assumed.
1t is asserted that after much delibcraton The
agers fearing result Of the proceedings about 20 30
begun against them by the Rrie Railway COMPANY who
claim first lien on the road through bonds which
are about fall due, have decided to put Commodore
Vanderbilt in possession OF the road, and 20 make bis
son. William H. Vanderbilt who represents him. Presi-
dent, vice Frederick A. Love, the present incumbent
who will abdlcate in his favor. The explanation Of the
change Is as follows:
In 1863 in the famous Erie-vanderbit litigation, there
was also a controversy with the Boston, Hartford, aud
Erie by the Eries guaranteeing $780,
600 OF the Boston, Hartford, and ETie's bonds
About 81 10000 N these bonds were transferred 10
Commodore vanderbilt IN part settlement Of his claims
gainst the Erie The Eric holds about S65OOo Of these
bonds and controls besides the S5,0000)0 surantced
II claims that t has first lien the Boston Hartford
and Erie Railroad under old contract the details Of
which have been recently published IN IHE TRIBUNE.
In addition il was asserted that par, OF the Erie pro-
gramme was TO obtain decree from the courts teclar-
ng that the bonds paid Commodore Vanderbilt and
alleged 70 DE without equivalent should be declared
void and the Erie priority OF len be established
This programme having fallen under the notice OF the
Boston. Hartford and Ere and Vanderbilt circles a
conference was brought about between Commodore
William h. Vanderbilt and Frederick A. Lane, the pres
ent President Of the Boston, Hartford and Ese, with
uieu IN eIae xma Of
The object in view was give the Vanderbilt crele
a controlling interest so prevent the depreciation
Of their bonds the extension OF the Erie INTO New
England through ITS most convenient outlet and thus
cause great competition with the Vanderbilt roads in
that section
II was further asserted that Commodore Vanderbilt
had an additional motive in obtaining control Of the
Bosou Hartfort and Egie as would enable him 10 die
tate terms in the matter OF the negaons sut brought
AGAINST him by the Erie Railway Company for tho
AZ 600 600 In cash. and the Boston, Hartford aud Erie
bonds referred 10 above as paid him in che famous com
promise.
Frederick A. Lowe President Of the Boston, Hartford
and Erie having been applied TO FOR information cor
cerning the contemplated change IN his wlT saId tina
he had q programme which would soon be acted upon
his Board OF Directors he declined 20 state what the
scheme was or 70 affirm deny the statements relative
10 tae substitution Oi William H. VanderphJ ioF hhseh
as President.
derbilt = l. NJ Barlow, director and cOlnsc. i0T TIC
Erie Railway Company. upon being JnpAcd TO Ioi lh-
formation concerning the matter sa'd h nc Aah Aoalu
He suggested "A visit Mr.. Vanderbilt, VINO would
be the best authority. There ls a heavy speculative
movement in the Boston,, Hartford ana Ere .toeh .ia
those deal in should be careful Of al Statements
relation TO IL.