, 1877-05-23
TIE RAILROADS,
Details Of the Great Contest for the Pose
session Of the Michigan Central.
It Looks as' II JAY Could Had tho Bulge
OIL tho Present Management.
How the Pool On West-Bound Freights
from the East La Arranged.


about the extraordinary efforts 1hith aro being
matlc just now BY Jay Gould and others to OH
tain control OF tho Michigan Central Ratlroati.
Goufd's object IN seeking control OF this road Is
mainly for tho purpose Of pcrfcctfpg his
through line from New York to san Francisco
lie bought no stock, but relied upon' obtaining
enough proxies IL elect hs own Doasrl of Dircc-
tors. The gentlemen whd backed up ti,tS stfcnto
owned 1iost Of tho 1oatihr stock In Wall street,
an1 sought to put In such Doar1 as would
tend to market their stock at tho best figures.
Tho parties w1lp now control tho Michigan
Central arc identified with tho Delaware &
Lacknwanna interest. Tho most prominent Of
them arc Moses Taylor and Samuel Sloan. They
were greatly petturbed By tho proceedings Of
jay Gould and'hls baekcrs; they worked strcn-
uously 10 ret proxies tor themselves aud to
keep them ont OF the hands Of their antago-
nists. The fact ofJay Gould being 50 prominent
ly mentioned with TIC proposed change nlarned
many Of those who had PLACED their proxies into
the llands Of s1r. IIatrh, Gould's pro-
ker. Fear1ng that no market could
be made for their :stoek, they
lurrl,. Sidney Dillon already had very largo
number Of proxies that hc secured through tho
exsrtion Of. Mr; Hatch. These could not 10
otller parties, WHO l,al become alarmed, could
control the proxies on their OWL stock, and a
letter was seat to Mr. Vanderbilt nsking him to
accept their proxies as o thdugllttlt; of course,
Implying that they were anxious Tor him to as-
sl'ne tic Presidency of tic Michigan Central
e1paY iPe2s liz matter rested until ,sst Monday the
day bcIore closing tho buolss Of the Michigan
election. Sfs'ncy Dillon, for Jay !Gou!L. had d
gan Central. muses. Tayior aud Samuel
Sloan, lad proxies for the present
Tlo Chaso and .Atk!us party hal rendered their
pruxics. sU1uo 1l tJ0J slarcs. to William II. Van-
dcrb!lt. The fat!cr parties believed that their
pruxies were sufficient 10 dtcl,lc the election In
wero standing OF to obtain q gooti offer, II
neither sids Iltl high enough thry Intended 10
vote for n Vanderbilt Boartl. Jay Gould rs
usual took In the situation. and troni what cnn
on!sts which viii probably giyo lin ths covsted
prize.
no. Ie suspected By the Chase and Atkins party
cent fur one days usr. Dy tl!!s ofIer liu sue
Wa1i street. scnilnE it to 1Ite Farmers
Loan and Trust Con,nany hc ha,l it trans
to his own. BY the rules of the Now Fork Stock
Exchange the Stock need nut hc returned until
fifteen minutes uast : O'Clock upon the follow
Central transfer books lad been ordered to ho
closed at exactly that time Tuesday, instead Of
u. M. os usuni. When tic nartirs got win,l
Of tic trick that had l,ccn niayci ,1pot, then,
tilere wna urcnt excttrrcnt. md m effort wa,
made tv bayc the tiuc for the transfer Of stock
extcndcd until 8 p'ciocK, but tllrIr efforts wyru
lis situation, At fourteen minutes ,,ast 8
o'clock f;u,ld returned thc borrowel stock tn
| tllu Clasc ami AtkiNa narty, As tiG stuck nav
siaus in Gu,,ll's hume ul the looks, aeeor.lil,v
conlinr clrctipn. With lid proxIcs iIcitl hV
to bs voted on by Ms, Gould il MT
| far from aU,D00 shares. As tho ease stands Ut
present, tho tlal't Is s9uarely between Gould an
tnsG it1,i. wn1 gomt5oi hhG 1oat1 g. present. if
rcntir,ncn Win r"nstr lin t mn nr"n, oro ~ cmt cmt
Of the way by Ooull'e stratuCcm, i;uuIl is now
| advertising through different brokers for o4d.