The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-05-02
e r ! E
James McHenry Speaks on the
Status Of Erie.
The Romance Of the Atlantic and
Great Western.
A Queen Of Spain Figuring as Rail.
road Speculation.
The Problem Of Cheap Transpor-
tation Solved.

1 Ao Z 1OUAC1A VI OACdP 4IdlSpOI~
tation Solved.
On Thursday morning Mr.. James McHenry, the
great Anglo American railroad magnate, arrived
here by the Scotia from England, and among rail-
road men his arrival has been waited for with
great deal Of interest," his counses are ex oected
to change the policy Of several OF our
railroads very materially, probably that OF
the present management Of the Erie Rail-
way Company. Many rumors have been set anoat
by the persons both In favor OF and against the
present management OF the company as to the OBJ
ject Of Mr. McHenry's mission, but the real purpose
VIII be seen In few days when the at present d.
vided counsels are made to assume homogeneous
shape.
One Of the HERALD reporters called upon MIR.
McHenry yesterday afternoon to see him as to the
object OF his visit here and what he believes the
upshot OF the present complications will be.
Mr.. McHenry looks as hale and hearty as when
he came out here in 1865 with Sir Morton Peto,
whose visit at the time created such momentous
STIR He says Of himself that he feels as full OF the
combatative quality as he ever did, and, while he
may be attacked and beaten for the time, he will
fight his adversaries as long as spark Of LIE re-
mains within him.
HOW MR.. M'HRNRY GOT INTO RAILROADS
"In this railroad business said Mr.. McHenry
"it is one constant intermnable squabble. The
attempt is ceaseless at least in this country,
which call my own, for was born in Philadel-
pnia, to put a man in q bad way ii he allows him
self to be so dealt with. One can only fight
these people with their own weapons, and
this is the plan that l have adopted
claim the credit OF having always had one object
In view during my lifetime, which was to sustain
the credit OF America, and l hold that what does
the American credit in Europe more injury than
all else Is the dickering and tinkerng with rail-
road securities as carried on here. It disgraces US
in the eyes Of powerful nations I claim the credit
also OF having been the first man in this country
to see the immense future there was In Europe
tar the produce trade Of this country. When Eng
land had laws against the importation Of natural
produce first began and developed the beginning
OF the cheese and bacon trade, which has since
become so important an item to our commercial
prosperity. The first cargo Of cheese that was ever
me on board the Great Britain on the
first voyage she ever made across the Atlantic
when s was half the PRICE here that i was hsrs
and when had very heavy duties to pay upon It,
y ,Ss T Wh S
the tune tnat-one night in tue year think It
Mintster's In Paris, when I was introduced to q
General Ward, OF Pennsylvania. He represented
the Atlantic and Great Western.
FIRST START OF THE ATLANTIC AND GREAT
The only misfortune with this railroad was that
It existed simply on paper, and not rail- had been
laid nor car constructed. General Ward intro
ROAD, TO me, and was finally induced. after care
fully going over the maps, to invest f10O 900 IN
ton witt with. The General + and his brothernaw
started for New York. and one, on landing In New
York, attached the money in the hands Of the
since. nor never will. i suppose the two
sos me Farosd Da naDs
Thought it would be no use to leave 1t there and
q sa ought 20 get 29sy Out
the grants ana title were al right and '1a H.
II favor 2! It. have stlli got letters
Justice at that time, from Governor Chase OF Ohio
and from the Governors, Senators and judges Of ali
the States through which the road was to pass en-
earnestly a. the ,,a matter It was represented
s., 900 600 went to the Marquis Of Salamanca, a.
P%i II Minister as % ss sna got a
and which he had paid back to him with interest
py the MP, proceeds of Of the o arst mortgage
raised 100000 more myself, which car
rled the road on further. Then came
But i was determined to proceed, as always had
confidence in the road. succeeded In getting
sssrns IN 9 the road She had
full confidence in It, and, though she has never had
her money back, YET believes . the road must ulti-
nothing deferred BY the war, the Queen
put her 81, 100000 in my hands and told me
JameAtOWn. Then 1 AQaln short of funda
came over here. BY this time found out that
all those people who had been so lavish OF promises
| OF support had failed me when wanted them.
From President Buchanan down not one OF them
helped me from the day began the work. Mind
but for the promises OF Erie 70 give me all
the support IN It's power, which was to be done
n TINS ms1ner Erie promised US release lea to pay
came for this Erie failed u.s. as did all the others,
though this was distinct contract. Nothing
hard pushing for money in England succeeded in
at length finishing the work. then called for the
the release, but they evaded the question ard II
| got no satisfaction. The road was simply obliged
70 depend on Its own bottom. and has done 50 al
along. There was good deal OF bowling on the
things went along mdding well untll Fisk and
saw them and thought them rather oashing yonn
fellows, who had an intention OF doing the right
70 which Oy this
HAD COST ME THIRTY MILLION DOLLARS
instead OF the 81, 000 900 originally spoken Of,
| consented to grant them lease on the terms or
It's earnings. had paying business OF 81, 500 600
year, and that was the price OF the lease agreed
! upon between US. i did not want any more nor
any less than the road had been able to pay itself,
because already had had trouble enough with
| It; and, indeed, the road would never nave been
built but for the promise OF release which these
| HUMANS had made me. So
FISK AND GOULD
became the lessees OF the road In che name OF Erie
One night, when they met, Judge Barnard leaning
! up against o lamp-post, he gave an order APP
| pointing o receiver Tor the Atlantic and Great
| Western. Everything had been going along well
at the time, and the road was IN perfectly solv-
able condition. / was brought over here once
! more and brought these two men. FISK d Gould
held that the appointment Of receiver broke the
lease, and the end Of IL was that OF the
$7.200. 600 which the Erie owed the Atlantic and