The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-05-26
ANOTHER CHAPTER IN ERIE.

RxcrrKsfEST At THE FIFTH AVENUE HOTEL
LAST EVENING RESPECTING IMPENDING
BANKRUPTCY.
Great excitement prevailed last evening 10 and
around the F.tA Avenue Hotel. owing % the
rumored collapse Of the Erie Railway. The large
corridors and reading room o. the hotel were
crowded by an excited tnough nor turbulent
crowd OF stock orokers, bankers aud railroad oti-
clais Here and there small groups Of brokers
were congregated discussing the probability o.
there being any tru.nlui foundation for me exist
ence OF sucn rumor The ~ told 1ou e." gen
tlemen appeared wiser than ever. anu AZ eycrY
opportunity administered verbal reoukes 70 the
arguments set form By taelr doubling friends.
at could not have been OTHERWISE exclaimed
Dne excited individual, apparently broker. II
Knew Ii ali along and | am glad or ~ for Wen now
get an honest board Of management .Jay
Gould, suggested bystander but ne imme-
dlately shut pan on nndiug that his suggestion
instead OF meeting with the appreciation OF the
coterie was only received with shout or derision
accompanied by oua laughter. mo, no,n re-
sronded an elderly gentleman. eve don't want
any more Gould regimes. Why, gentlemen, THIS
man Gould has been AZ the bottom or this whole
Afalr and he has managed the operations OF hose
opposed TO the present management so as to BRING
about the bankruptcy OF the Erie road,
IN order that ne may once more assume
the control ol that road. Ills plan now is TO let
the road 90 into bankruptcy. and by some manner
,f means so arrange matters as TO nave COLI
Drollng voice IN the appointment q, the receiver,
n whose hands the books and property or the
Erie road must be intrusted "a soon "a he has
accomplished this part of the programme he viii
then nave himself Reelected president q the
road onee more. reporter q tns HERALD
called upon Mr.. Jay Goud last evening &C the
Fifth Avenue Hotel. for the purpose 81 ascertain
ing whether or not there was any truth IN the
ramors which were being circulated as To- the
inability OF the Erie Railway 70 pay the Jnne
interest upon tneir BONDS, amounting TO about
$3.50. 600. M men addressed upon the suDJect py
our reporter, Mr.. Gould was standing directly "a
'front.' OF the CLERKS desk, and was engaged III
chatting win several Of his friends
on beng asked by our reporter as 70 whether
ne had heard anything about the rumored bank-
ruptcy or the Erie road. Mr.. Gould Immediately
responded that ne had not
REPoKrER-Mr. Gould, nave YOU heard that the
Delaware and LackaWanna Coal Comp my and the
Delaware and HUDSON canal Company had Ialeu
10 keep the promises made to assist the Erie
Railway Company oy lending them Sufficient
money to lay their June INTEREST,"
he again replied that ne had not, adding, BY way
N parentnesls as though hs desired 70 escape
rom being compelled 70 make answer 10 any
course OF cross-examinaton or questioning upon
any matter connected with the Erie ROAD, tnat ne
had had nothing Whatever 70 90 win the man
agement or tae road Tor two years past.
lie desired 10 be understood as being IN
possession OF no knowledge whatsoever Of Erie
lnairs. II there was any one subject on which he
was unable 10 say anything Il may be stated tnat
Erie was that SUBJECT. To every question put 70
rim by Q r reporter IN quest Of Information upon
ne arfaars Oh Erie he answered. NO.
President Jewett, OF the Efie road, on being
questioned last evening IN regard 10 Tue Erie
lumors upon the street, stated that there was
treat dea OF truth In them 10 so FAR as regards
the failure OF the several cana and coal companies
above mentioned 10 fulfil their promise Of assist
nnce. had they complied with the request Of the
Erie road TO advance inc amount ~ The Jnne M
Eerest ne believed tnat me road would nave pros
pered. As matters stand az present, however, ne
could discern nothing but bankruptcy staring
them in the face.
The last remaining hope for the payment q the
June July interest has disappeared as the
following report or an interview with President
Jewett shows
REPoRTER-Mr. JeWett, have you received au
answer 70 the negotiations set on loot ~ your
company 10 raise money from the Pennsylvania
coal com panies TO pay the June and july inter
est2
Mr.. JEwEIT-Yes. ! nave received an answer
saying that no money can be looked lor from that
quarter.
RECONCILIATION, Is there any hope 81 the Erie
Company being able 70 meet lts ohlg2 tiOns
Mr. JEwETT sadly anu frankyl-None shat /
can | am going 70 q meeting Of the directors
Lnis evening TO see what can be dOne.
RRPORIER-Haye you any other project IN view
TO meet the obligations or the company
Mr. JRwETr-None, whatever. Iae next regular
meeting or the company would be in June, but
have Ia justice 70 myself ana owing 10 the press
ing necessities OF tAe company, called meatlng
Of the directors for tomorrow