The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-03-22

IN II w Va
int the position ne now oecup,ss en-, the
bonds OF the description ! have named In
sSsut Ss Ra Per c S1eG , .Se
bills on McHenry for $4,000 in favor OF Gardner and
myself It's pity that Mr. Barlow and Mr.. Watson
other people say OF them; under the arrangement
made by McHenry and me the directors were to be
more literally rewarded for resignng than they
afterwards were; 1t was not necessary to expend
any money for the repeal OF the Classification act
i have no personal knowledge OF money being ex-
copies oil the vouchers which / have given you.
recess was taken at this point until four O'Clock.
After Recess.
The committee reassembled at four O'Clock and
was conducted by Mr.. Whitney, who was evidently
TOO young to worm very much out OF the willy ex-
president Pre- a Mr. Could spoke very freely and
meanwhile quietly studying the caiibre OF his ex-
aminers and wearing throughout peculiar sar-
journed a meeting Of the Executive Committee
just previous to the coup detat OF March, 1872 His
Before the meeting Of the directors on the 18th of
March had an interview with Mr.. Duncan; there
was nothing said about my resignation or any
other member OF the Board; l saw Mr.. L. p. Nor
ton at his office in Broad street; went there be.
cause he was large stocKh0lder; the purport OF
our conversation was about the programme to be
pursued; he Ielt favorably inclined to the use OF
his name on the new Board think ! told nm
correspondents III. y. ..
names were mentioned, which l think are
substantially the same as referred to in my letter
to Mr.. Morgan; before could have received an
answer the Duncan negotiation came up, so did
not receive any answer; l met Mr.. Duncan at his
house; we talked about the reorganization and the
conditions ON which 1t should be carried out; the
only condition, think was that oil the large inter-
ests which feed the road should be represented;
there was nothing said about any money to be paid
to anybody; the matter was to be voluntary on
the part OF the outgoing members; met with
Messrs. Duncan, Barlow and another within day
trun nffn uA ynAf Mr. no nyUf hAV 4
was either the last week in November or first week
in December;
the names mentioned Tor the new Board were
Erastus Corning. E. D. Morgan George p. Alden,
B. Duncan, Lew p: Morton, John Even, d Asa
and Dr. Eldridge. OF Emira my own name was to be
added; we discussed the proprety OF the change and
how 1t would suit interests In Europe we thought
interests of the company that no gentleman would
stand in the way OF 1t. especially as the financial
matters were pressing. and agreed, in order to
facilitate the matter, should it be necessary, to
have q law passed repeating the classification;
| Mr.. Duncan was about going to Europe, but we
| agreed to go on; controlled about twenty-four
millions OF dollars of stock; we thought none Of
the existing Board would refuse to comply, but II
| they did would have law passed repeating the
Classification act; there was no other remedy pro.
| posed, and If this were not done-why, 1t would
| be very good thing for the "ins' and
VERY BAD THING FOR THE OUTS;
It was agreed should prepare letter: emoodyn a
Mr.. Lane shortly after my first conversation with
spiracy; the whole force OF United States marshals
and majority OF the directors were purchased and
a. oy an thus was n e
| Western road there were one or two vacancies
somebody was to get up and move to III these
the price Of certain men; Nathaniel r. Sands was
one, 8. G. Hall was another; Mr. Hall had grudge
snG
| was to receive $4,000, Mr.. j. White $4,000, Mr.
| Otis to receive don't remember what Ramsey to
my surprise, was the hardest man he had to bargain
| with; Mr.. Henry Thompson was to receive
Sloo, 900; the money was to be paid, so Lane said
| By the Atlantic and Great Western or BschotIs
| helm and McHenry; he said they counted on him
! Uane) he said he had always been true to me,
and they had mot Of money enough to change him.
| ment OF schedule between the Erie and Atlantic
and Great Western; committees had been ap-
| was stated that the Courts Of Ohio required the
seal OF the company to be affixed by order OF the
ene na
times anOther he pretended TO be working
against them and in my favor; the thing would
majority; he said he acquiesced, so as to know
what was going on, to
| Sickles was to engineer the movement; Mr.. E.
| X. willard came to me in February and asked how
e up on 10 me- snaa
II would give over the control, or resign and &C
| qptesce In change, he was authorized to state
not at liberty to state by whom he was authorized
an attempt was then made to get meeting OF the
in the fore part of March called meeting Of the
Executive Committee; Messrs. Lane, Ramsdel,
an% e ne ,S ey mao "a
resign they would take the resignation before q
meeting Of the Board to be. called for
ton confirming the settlement in my possession;
put the resolution, 1t was carried and adjourned
through tie was ' in the usual way
thought heard most yeas so declared the meet
| ing adjourned, got up and went out; don't know
it. so put 1t and declared 1t carried This explana
ton was given in sucn initable style as to cause
Mr.. Gould polished his glossy mustache first on one
| side and then on the other with the head Of his
a1 sas aSs
stick and taking bead through hts eyelashes and
over the stick head at the members OF the commit
| The next step was q call for q meeting signed by
Mr.. Archer, which was ne call at oil. as 1t should
have been made by the President at the request OF
| Q certain number OF directors;
JAY GOUID's PLAN.
Ny theory was that as the meeting was INFORMAL,
the most they could do was come together and re-
sign; everything they undertook to do in nlling
vacancies would be void; the only res9nations
| legal directors left would be my own friends and
those who did not attends the only legal directors
E,dridoe rcner Ramsde1I ana mvssIq rneW the
| meeting was to be called the evening before, or
rather Saturday evening, the 9th; on Monday. the
| 18th, called meeting for Tuesday, the 18th, of
| those gentlemen have named; at that meeting
| we should have filed mp the vacancies caused by
| the designations Of the day before; the meeting
| would be OF my friends, for had control as per-
fectly as ever when we held one side OF the build
ing by force and they the other DR.. Eldridge came
to me and urged q settlement; said ne mad had
conversation with Mr.. Barlow and he had
| no doubt satisfactory arrangement could be made
| Immediately acquiesced; he had q second inter-
| view with Barlow and they agreed to accede to
my terms; the memorandum containing the terms
| was partly In my handwriting, partly IN MIR. Sher-
| woods, and, think, some in Sickles'; General
Sickes took 1t; never saw it since he said he had
placed 1t among the archives OF the company; the
| substance was that everything that had been done
the day before should be void; waste call meet
ing for the following day Of the legal directors and
the vacancies were to be filed by these men; they
j were to retain all the employees who had been