The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-08-01
Railroad Presidents.

We find in Il correspondence of the Utica
roads, their presidents, etc. The writer
says: Variability is inevitable among the
most enduring of human institutions, and of
late years our railway kings have afforded
sad illustrations of this law. The Erie has
had its Ben Loder, its Nat Marsh, and its
jim Fisk; and the Hudson River is the
only one whose series of presidents shows
but one death through twenty years of va
ried succession, and the names of these
men are James Foreman, Edwin ID Nor
gan. Samuel Sloan, John M. Tobin, and
Cornelius Vanderbilt. The New York
Central was organized by Erastus Corning,
who held the presidency from 1862 to 1866,
II longer time than held by any similar of
ficer. Dean Richmond, Gen. II. Henry
Baxter and Henry Russ, were his brief
successors, and then the administration
passed into the hands of Vanderbilt, who,
with Gen. Baxter, is the only survivor Of
this imposing array of names. A cores
poii'tihS huS tuhtl lbluCt
the superintendent and directors, which
present such names as Hamilton White,
General Could Alonzo G. Paige, and John
l.. Schoolcraft, among the dead, while Vib-
bard, Chittenden, likewise dead,) and
John Newell have ceased from the super
intendency. Thus the fashion of the world
passeth away. The Lake Shore was under
the control of Dean Richmond and Horace
F. Clark, who are also gone forever. "
Speaking of Commodore Vanderblt's first
trip over the Central, the writer says
"Iaving referred to his recent grand ex-
| cursion as President of the three roads con-
meeting this City and Chicago, | will now
mention his first trip of the kind. In 1864
| strong effort was made to dslodge Corn
ing from the Presidency by an Albany
clique of capitalists, who were headed by
| Tom Olcott of the Farmers and Manufac-
turers' Bank. Corning then rallied his
strength, and among other allies numbered
Vanderbilt. The latter then owned five
hundred thousand dollars worth of stock,
and was told in the company's rooms, in
Albany, that he gave his vote for Corning.
| This was said with much elation as a proof
| VI tnV utNOttNtuSSo w WIN
ing. Little did the latter dream that his
ally would so soon become his invcterate
rival. The next summer Corning and his
directors made their annual excursion over
the road for the purpose of inspecting its
operations, and as mark of especial re-
spect they invited the Commodore to ac-
company them. In accepting this invita-
ton he made his first trip in state and had
a chance of noticing all the defects in man.
agement. Little did the directors imagine
that their guest was inspecting their move
ments, with the intention of discharging
the entire board, which he did much sooner
than any of them expected. From this
foothold in the Central, Vanderbilt increas-
ed with immense rapidity. In four years
he held the control of eighteen millions OF
stock, the entire capital of the road being
twenty -four millions. OF this eighteen
millions, large amount belonged to other
parties, but he probably owned one-half.
At the election which took place in Decem-
Der, 1867, very remarkable solitude was
witnessed. The ballot-box was open from
ten till four, but only one vote was cast
This was deposited by the master of the
eighteen millions, who has since then con
trollcd the road"