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

/ int the position ne now occupies, the
customary commission for executing the
bonds or the description. ! have nam named i'm IN
da aT's alter Gould's overthrow Barlow drew TWO
bills on McHenry for $4,000 IN iavor OF gardner and
m sne i've heiT evidence until they hear what
| other people say OF them; under the arrangement
| more literally rewarded for resigning than they
| afterwards were; 1t was not necessary to expend
In have no personal knowledge Of money being ex,
| pended In Albany; never saw the original OF the
| copies oil the vouchers which have given YOU.
recess was taken at this point un Til four O'Clock.
After Recess
The committee reassembled at four O'Clock and
| called Jay Gould to the stand. The examination
| was conducted by Mr.. Whitney who was evidently
too young TO worm very much out OF the willy ex-
president. Mr.. Gould, however spoke very freely and
told all he wanted to tell in noncnala't manner,
meanwhile quietly studying the caiibre OF his ex-
aminers and wearing throughout peculiar. sar-
donic smile especially when telling how he ad-
Just previous to the coup de,at Of March 1871 His
testimony was substantially as ioll0ws:-
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
| otner member OF the Board; l saw Mr. L. P. Nor
cause he was a large stocKnolder; the purport OF
our conversation was about the programme to be
ne se to sn pss
was in correspondence with Mr.. j. 8. Morgan; other
names were mentioned, which think are
| to Mr.. Morgan; before could have received an
answer the Duncan negotiation came up, so did
house; we talked about the reorganization and the
conditions on which 1t should be carried out; the
esss which eed the road should be
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 o day
or two after; we met at Mr.. Barow's house; It
| in December;
WE AGREED TO HAVE NEW BOARD;
Er Era cornips. E. D. Morgan George ?. Alden,
w. b. Duncan, Lew p. Morton, John Even, Asa
Packer, Horace F. Clark, J. 5. Morgan. Of London,
added we discussed the proprcty 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
facilitate the matter, should it be necessary, to
have law passed repeating the classification;
to-
millions OF dollars OF stock; we thought none OF
the existing Board would refuse to comply, but II
they did would have a law passed repeating the
classification act; there was no other remedy pro-
posed and If this were not done-why, it would
be very good thing for the "ins' and
VERY BAD THING FOR THE OUTS;
It was agreed should prepare letter, embodying
the names Of the new directors for MT: Duncan to
Mr.. Lane shortly after my first conversation with
Mr.. Duncan; Lane told me there was great con-
spiracy; the whole force OF United States marshals
and o majority of the directors were purchased and
bound by an oath; this was in February; the road
was to be handed over to the Atlantic and Great
western road; there were one or two vacancies;
somebody was to get up and move to I'LL these
nrcs a1s %e
one, 8. G. Hall was another; Mr. Hall had grudge
against me on account Of contract in which he
was was to receive $4,000 Mr. White SIS 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
500, 600; the money was to be paid so Lane said,
BY the Atlantis and Great Western or BischS n
H.ane) he said he had always been true to me,
and they had not money enough to change him;
ment of schedule between the Erie and Atlantic
and Great Western; committees had been ap-
Se es Of
board. and was to eau the meeting for that pur-
pose; he sometimes talked one way and some
| times anOther he pretended TO be working
against them and in my favor; the thing would
block itself, as without him they would not have q
majority; he said he acquiesced, so as to know
49, GET MIRO THE ENExY's CAMP;
| Sickles was to engineer the movement; Mr.. E.
X. willard came to me in February and asked how
would like to give up my position; told me that
II would give over the control, or resign and &C
qpiesce In q 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,
Archer ana myself ,S were the they haa
resign they would take the resignation before
| meeting Of the Board to be. called for
ton confirming the settlement in my possession;
put the resolution, 1t was carried and adjourned
through the aa}ournHens was in the usual way;
thought heard most yeas, SO declared the meet
ing adJo%rp nee, got up and went ont dent know
it. so put 1t and declared 1t carried This explana
ton was given In sucn inimtabe style as to cause
the staid members OF the committee to laugh aloud
Mr.. Gould polished his glossy mustache first on one
side and then on the other with the head Of his
o his e tye the essa
stick and taking bead through his eyelashes and
over the stick head at the members Of the commit
The next step was call for 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 ning
vacancies would be void; the only RESERVATIONS
those who did not attend; the only legal directors
| Eldridge Archer, Ramsdell and myself; knew the
| meeting was to be called the evening before, or
18th, called a meeting for Tuesday, the Eth Of
| those gentlemen have named; at that meeting
| we should have filed up the vacancies caused by
| the designations Of the day before; the meeting
would be OF my friends for had control as per-
fecty 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 he mad had
| q conversation with Mr.. Barlow, and he had
no doubt satisfactory arrangement could be made;
| Immediately acquiesced; he had 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 Mr. Sher-
| woods, and, / think, some in Sickes'; General
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