The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-02-20
BOSTON, HARTFORD AND ERIE.

Mecting OF the Directors Yeatcrday-A
Rumor that william II. Vanderbilt
Was Elected President or tho Road
Mr.. Fred Lane Denies Thig-Thc Com
tentiOns Between the Central and Eric
to Obtain Possession or the Road-An
Opinion Which Decides Briefs Claim
Coquetting With Both Sides.
There were rumors In Wall street yesterday that
william II. Vanderbilt had been elected President
Of the Boston, Hartford and Erie Railroad and the
report created some excitement HERALD re-
porter saw Mr.. s. l.. M Barlow on the subject. Mr..
Barlow had heard the report and was astonished
at 1t. He said that he hoped this was not true that
the Erie Railroad had guaranteed $bO0O0 900 Of the
Boston, Hartford and Erie's bonds, and that
through this the Erie road had hoped to gain con-
troll OF the road. Mr.. Barlow seemed to intimate
that the election OF Mr.. W. II. Vanderbilt would
knock this little project on the head.
At noon yesterday there was meeting OF the
directors OF the Boston, Hartford and Erie road.
The meeting was short and nothing was done,
THE TWO COMMISSIONERS
appointed by the state OF Massachusetts, not being
present. The attendance of the gentlemen was con-
sidered very necessary, as the road runs principally
through Massachusetts,, and 1t hopes to have some
valuable franchises made out and others renewed
In case these commissioners are entirely satisfied
with the way in which business was done. The alb
sence OF the commissioners was mainly owing to
urgent business, and the meeting was adjourned
until next Tuesday, when the commissioners have
promised to be present.
A HERALD reporter afterwards saw Mr.. Fred.
Lane, In whose rooms the meeting was held. Mr.
Lane at first said he
COULD NOT DIvUIGE
the object Of the meeting but afterwards let II out
He said
"YOu know we hope too much from these COM
missioners to hold a meeting without them. Our
road must owe great deal to Massachusetts leg
islatiOn, and without 1t we cannot do much"
"Can you tell me, Mr.. Lane" asked the HERALD
reporter, "whether the rumor that william Fl. Van
derbt has been elected President OF the Boston,
Hartford and Erie is true 2n
at ia notn answered Mr.. Lane, emphatically.
''Of course need not conceal the fact to you, for
think it now useless to do so. There have been
some arrangements made towards that point, but
will be. There is no doubtful that some prOprO-
sitiOns were made to Mr. Vanderbilt by some
Scsvs W thai he win never he the President Of the
Boston. Hartford and Erie road
'Bat, OF course, II he were made President 1t
would hurt the Erie interests2n
"Of course, 1t would" said Mr. Lane. But you
see don't care whom hurt. simply consider
THE INTERESTS OF THE ROAD.
know that the road is the vital point to both the
Central, under Vanderbilt, and to the Erie, for 1t
is the only Of to sk ing to Engand the %
sce them the great point it is to the Erie road to
possess the Boston, Hartford and Erie, as 1t would
give that road an outlet to the whole of the East
ern States, and give means of richness which 1t
may well fight over. OF course, with Vanderbilt
s the w
highest bidder.n
sBut the Erie people claim, Mr. Lane, that IT has
guaranteed $5,oO0,ooo Of the Boston, Hartford and
Erie Railroad bonds9"
eyes 1t has guaranteed the interest upon these.n
Gi n
mot the slightest. 1t has simply guaranteed to
pay the interests but through this it cannot really
TO TIE HIGHEST BIDDER,
and don't care whether IL Is the Eric or Wander
bilt. 1t may be that the Pennsylvania road may
come In between the two and swallow it up But
assure you again don't care who gets it,"
"But will not Erie resort to some means to secure
its interest in the matter 2"
'Mr. Barlow says that he is about to file bill In
one Of the Courts demanding an injunction against
the sale Of the road and against any further pro-
ceedings being taken by the directors. But this
won't hinder matters much and I'll tell you why.
on the matter from Judge Abbott, Of Boston,
Of *. N Boston, 'ff 1n ' and
that in eighteen months after the mortgage trustees have
. 'Ss SI they @
ySae 20 ns 81 sS as
holders that this duty peremptory and not discre
Secoad-I am Of opinion that IL the bondhOlders so
called together organize themselves into corporation
that thereafter bondhoder is entitled TO any interest
on his bond whether becomes IN tact stockhoder or
that by the Of the contract all interest all
said bonds forever the formation of such
poration. that payment thereof Is forbidden and Of
course guarantee to pay interest said bonds ceases
at the time that u.s. there being interest 10 pay
no guarantee 10 pay IL can be availed Of
az rather think that this will surprise the gen.
uemen on the other side,r continued Mr.. Lane (;
''but In ANY case, however, the matter turns out
that the road in less than couple Of weeks will
have passed into other handsn .e--.,-s --s--