The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-03-04
ANEW MOVE TOWARD ERIE
mn THfT MUST START a LIVELY
rom IN ALBANY.
what II Means and What the Hon. John
:, ,he legislative Canal Iuvcstigntion.

MOFrta~fN
Of the legislative Canal inVtsttS"ti"n'
,,,,Vv. March "A bill to facilitate the |
ct, mon Of railroads sold under mott |
"'''''.' ., IN ,rovtte for tne formation OF new
f,o. in,rod reed by Mr. Rones and
80, D., II ,rn,n H. Elton, Is a subject OF |
~. comment, II was briefly considered In
u NJ 60 ,cs,criay. hut a. no one seemed to
WV ,,,n t,st rb I II designs to accom-
-, -, tho nation Of Mr.. MDrrssey It was laid
t,ts , gener law, but Mr. Morrssey Ia Of
...,n,o, ,h,tltIsami on the part OF the
-, h,,tholders and persons In Now York
-, Emo o,t,re control Of the Eric road by Sc
-, ,he r,,ht TO vote upon tho bonds as well
- .,ock Of the road, for which the bill pro-
bs "' =, -. 40, that be bchsves ua
vldes. Mr. Morr'sse' ~ ,"a' 90 Vvsres .'
n asace must slcrihce inc ooha uuo stoCknoio-
- "a ,yn,u, had bought for permanent
,.',,,,or, ,yhan tho stool, vas worth 1928. Tho
m'es'''o"' .',,,, ,,,, s.e,l,ng OF Law Gouid
had reduced II to Is, and TIE passage OF the bill
,tu uractic,lly result Ia wipiug this class out
VIII p'"N'. Wv -. ,t,, ,.,,.,. go, ,..t,, A.. ,..,t
entirely Nheh '"r ''' w 50 20 w,
favor the Senate with some facts and ngures
.~,a,,v, =, the Ere Railway that may some
relative 10 Wv -, ~, ,,,s Am tt ,.,t,
what inJurc the PROSPECTS Oh .n's on'' he VIII
chow how when Gould and FISK obtained con-
-, ,ho ,o,d br the passlge of the classtnca-
Hoioi W" ~, -. -, 80
Hon act rs bonus ana sto'N ahounteu TO So
KILN How Tweed and Sweeny were taken
-, No, ~, ntrect,ra vvhsn thev dti NOT
MI" "'e -. ~ =,
own dollar of the Stock ana now with Gould
And Fi.k they controlled its naanciL manage
- -. r. a.. .,.., ,,,,.;,,t D., rt,r,,,. q. No..
men. ana stole anu dNiei tue plunuer among
them. How m 1868 thew Increased tine capital
400 t,o sa1. In tsn az, ssl4 700. In 1871 s5o1o1o
t-~l'e'oo'' '" lo'' s',-~'''VV' :" 80 soVV''VV'
In Isl foWo'Vo' anu nha'N' 'n 1860 elloi''fV''
making a total increase In six years OF S71Ol},-
io1 thus Increasing the CAPT al stock to SPA
49,, ~. 80. -. - n -, -,
WlOn Up 10 lSD the Erie RUNWAY PAID diVi-
bends on ITS preferred and common stock, and
WV" '' '' 80 On
control OF IT, dNiends were PAID on the pre-
,s..v,,,,,,,,. -, ono ,,,t tan, -, on, aoa .h,I,
Wv oao, W., .,n,,o rv,Iaat n,s ,aa, na,n
The s;7OnOO OF Increase together with the
earnings 81 tho road. amounting to a total OF
k''tMVv.VV' "aN'"H oeen S'oieu "ou tue s'ooA-
ho'ueis' or,,r, ,,,r.,,s,,,.,, ,..-rs
He will also give an interesting resume 81 the
issue Of $l0tOJ0lO OF Fraudulent stock by Gould
I'm SIS. and how he was comueled to pay Com
mndore Nanderbtit S3,0n,0rO Tor the deprecia-
ton Of his stock by that transaction. and to
cpmpromise with Dick Schell and Frank Work
10 the tune Of S25OOJ0 each to induce them to
Withdraw suits for damages. The suits now
byGoaId of 100000 OF his riunder. and in frct
a compiete review II the Erie railway manage
meet Tor the past ten years WIN to Slr. MorTis-
further leri stian 10 deprecit te or Woe "nt The
conn on stock held by innocent purchasers.
tue iptnt legi-i tive committee auponted
last session 10 investig t. canal frauds, which
was "A sort Of compeiitor or on.ct TO the Gov
ernor's CONN isston presented their re- ort TO
the senate to day Though th,ir ca irman, Mr.
Cole MIR Jacobs who VS. 4. uYemher ~ tho
cnmmtttee tut who tended ,erv few - ia
sessions after the adjournment OF the Lepi.lt-
ture, asked Tor the reading { the signatures to
the report. Not nnaing mis- own name there he
exul ined that he had NOT stoned fhu r4t,nrt
because he had n been gwen an opportunity
TO read II. The report IS accompanled hy !, bill
to establish a court for the determint ion Of
CT inns az inst the state, and To- abolish tne
Office OF Canal Appraiser. The court - to con
al fnff hrn.. 4 .e llu,
10 be appointed by the Governor and confirmed
by the senate, ana to hold onice To- one year.
The court Is to exercise powers heretofore ex
ercised by the Board OF Can Al Appraisers. In re-
gard to any claims against the STATE. The rec
ommen ltions OF the committee have already
bsen published In The sun.
THE nIcurs or u.uprrn wourx
r. 60. 80,
Inc eeha,e judiciary committee, winch sets
US aaoe st Eau a.anst any lnhoNation upon me
mo morris% xoar 70 tne on, sV
nn,r,s IN ,i, I ,i sihe I,sn.s 20 make
sSt s', "h,I NV. sSnara,e plpp-
moved 10 disagree win he ?, MR. ana ~, &
Nv ~ Inc exisiing law ,x,rh an Ma ~, I
women, on their own motion, or ,lisnonest ms
bands under cover of thrIr wives, 10 Ssfr.''d
traGesmen and nrofessional men out Of tSeir
goods or services, He said that nearly
the entire bar OF the State, as well
as IN Jority OF the Judges, including
the Court OF Appeals, favored the
change in the law contemplated 10y the bill.
Mr. bradley defended me adverse report OF the
committee OF which ne Is member, and as there
appeared TO be general desire among the law
yers Of the senate 10 speak on the subject the
report was on motion on MT hennaday lald on
the table, anu mace u special order Tor Wednes-
uaV next.
senator MCCARTHY called from the table his
resolution asking the Acknowledgment why tue
Lanai toleyes were not prosecuted and made
IL the text Tor another OF his written speeches,
pronouhclng the ooFeruors commission fraud
mo oheat' ostenslry created To expose thieves
ana roOoers OF the Treasury, but really designed
20 promote tue political fortunes VI Samuel j..
ridden:
MI. starouck retorted that no was AFRAID Nc
Ndrthy would never recover from the mama that
possessed MN WIN reference 20 the Governors
lanai Commission. lie could discover no point
IN tue long speech OF the Senator from the
1weny-second unless II was TO arraign tho
people oil this state FOR electing 10 State Offices
two members Of the commission. The reason
tue people had done this was because they found
from their reports on the canal frauds that they
were men who would do the State faithful ser
VICE. The resolution was laid over.
Mr.. Woodin. from the Committee on Cities,
reported fdvorabiy the bill tor the appo njnent
of Commissioner of Jurors in New YORK eli Y,
with n amendment emitting the Recorder As
Oho VI Tue ppolullnE power anu Substituting
tne new Judge OF the Court OF sessions IN nis