New-York tribune., 1878-11-23
THE COMMODORE'S ROADS.

| PROOF OF HIS SHREWDNESS IN BUSINESS.
AMAsA STONE TEsIIFIEs IN REGARD TO COMMODORE
vANDERBILTs MANAGEMENT OF LAKE SHORE
TESTIMONY OF EX-GovERNoR GARDINER, OF
VERMONT,
Commodore Vanderbilt's business methods
In his control over great railroad corporations formed
the subject OF testimony and discussion in the great VIII
SUIT yesterday. The two witnesses Amasa Stone,
OF Cleveland Ohio, managing director OF the Lake Shore
aud Michigan Southern Railroad and Abraham B. Gard-
ncr former counsel for the Commodore In railroad suits
Inc purpose OF the proponents counsel IN introducing
the testimony TO show that the Commodore In all
his business Transactions displayed uniformly a strong
! Judgment and well-balanced mind.
Mr. Stone said that he had not expected to be called
witness until Thursday last. when visit 10 William
H. Vanderbilt he asked If he would be willing
to remain over I'm NewYOrk another Cay and in the
VIII suit some Of his experiences with the Commodore.
He had known Commodore Vanderbilt, he said, for
many years bui first into close business relations
with hin in 1867 in connection with eLake Shore Road
ana continued such relationship until the C0mmOdOre's
| death. Horace +. Clark, the former president OF
tie road died in 1873, and tho Commodore
became president in his place. The witness became
nanag ng director OF the road under Clark, and
tinuod In this position up to the present time. lie
ceved lis Instructions from the Commodore and always
ohcyed them without regard to the other officers OF the
road
! diiinn when the Commodore became its head. HI
ordered the ,xpcus TO be down, ;he general imam
aecm"nt to be economical checked several eXpen
| sive enterprises which the road not able To
carry ont and especially turucd his attention
| TO The adjustment aud funding ~ the floating debt,
which hal been swcied TO 81 JOUO,GGO. The Commodore
used his money fund n large portion
! 81 the debt, Ca"cel!ng consd 'iable part
! It the first mortgage bonds every year.
Contracts had been made under the previous manage
mcn for the construction OF 100 miles Of double track
and Tor fifty new locomotives. Tho Commodore sue
cced'd IN having cancelled the contract for
the double track but not the one for the
| mak"E OF the locomotives. The instructions
| given in the railroad management by the Commodore
M stone said he always considered To be emnenty
wise He thought ali - official acts 50 far "a he was
familiar with hcm cmncnty rational, intelligent
and yl.e.
Several Conversations occurred between the wit
ncss and the Commodore in 1873 IN which Mr.. stone
said to him that ne was OF stock Of both
railroads he wanted to know what would become Of the
railro ada after ia" COmmolOrcs death The Commo-
orc rculy was that tie property would remain intact
He al confidence in William H!s management, and
Therefore there would be change. FAR rs he could
prevent il, in The management a'ter his death ~
lhr scene IN court during the crosse Xaiinatl0n o MT
Stone nmus.ny The proceedings IN the -urrOgatr's
Court are not always conducted with exceeding dignity.
80 IN 'rcan.u,.y 10 forget tic dcc6rnm that is
usually maintained in courts. This was pal-
/ tjCulaTy IL this tim" Yesterday. Judge
Barp was not present. aui Nr Lord had alone
the wlc hurh; OF hts dc opP@.rG to MN WtaG ,lIeG
to"k a. t. a. aciiyc part IN the OPPOSITION
counsel At amo,, every Interrogation Mr. Lord, the
propOn"nr sitting directly behind Mr.. fllnton, would
say him pretty aud'by something about the road,
when Mr. Clinton, repeating would throw at Mr.
Lord. The latter az last bcgme sG uIcd oi TINS
! That be asked The protection ~ the Court. and
the Surrogate sharply repruycd tue running hre'
sIr Clinton va, somewhat ,uhdu'd after tms, tut the
three counsel continued close consultation, Hrh Mr..
Vanderbilt. and oft their tones were as loud ~ the
On cro,.xalnltIon. Mr ston, said that the Commo.
Gorc although BE- WIS Ihc fahpr-luliw OF Mr. Clark
never thought well of the laticl'- managemcnt The
Commodore had nothing to-" WIN ih" election "t VT.
Clark tn lr presidency u 1870 he uwu'd only about
5000 ,i1rer oi atur' MOT h' "c'nr rt'l.1' ine
Commodore said that 'Hrhs management Ead b'th
| reckless and ruruu..
NJ Iord-Ed hr give any rGa1'n son Tor th3t "GniGnl
put railroad SjOoo,GoO 10 debt without knowing
where the To comet rou-how the doot could
/ be- fundci-Wn- reckless.
ODD YOU consider that a rational judgment. Al
o-wcrc Won "a director responsible I'm part for
rho ,crumu alton Of Grutl Al protested ~ far "a
could out the directors ouy met two or three times
wear aud the general expenses we're III the hands oI tne
ExecuiIyr Committee, composed OF Mr. Clark, Augustus
sa& ,ns Pd' ;PoES .tS 70
aud wtnIn II. Vanderbilt that appeared TO have arisen
nj Hr-, IN regard To some frrl- lnnteis Billy aud
the witness had frequently heard Nj CarS speak dis,
paIayIugIy ofth, business abilities Of NnlIam H., and
s,,,lli times be- uud called hu q foo.
Tic next witness was Abraham u. Gardiner. "y-Goy.
,rrtu al mont. who retained, hr sdI, CUUOstl
,,r Commodore Vanderbilt q foreclosure suit against
t,c Bennington and Eutl, nj Railroad. The question
tuyp. whether % certain contract made w the
Commodore with 1rruor ". Park defeated the f1reclO
surr I'm tlc si the Commodore was orally examined
November g. l~Ti and the examination ended on De-
criub,r l. I-1I. The Uuatiuu was held In the
I,ulmudort'- VaIlOr OltHt, thirteen days
,acI :, sHuu lasted from to three hours. Mr. CliH
ion then errd evidence the deposition IN order 10
u,,yr by The intrgcnrc of the Commodore's
his strcngh mind. Mr.. Lord argued tdt TINS was IN
SblC-at most, would only show that the decc
dents syuliy was intermittent Another objection was
10 numbering up the record win 80 enormous an amount
OF evidence, ~ great expense.
The Surro. Htr thought II the best test OF
man. ind ucnt and intelligence That he had well suS-
tanned "A severe Crurs-, NHnlndt"u ME- Chudtc cdllcu
The attention the Court To the celebrated caseol BFlck
Brick which judge Rdpnllu hdd decided, III
fhe Court OF Appens win the concurrence or the other
iudgls that "A mans business Corc-ponicncc showed ia
n nigh degree MS mental condition. Tho surrogate said
that the case cited sustained ' O"hNc"; ne hau never
brore heard Of the cusc but had arrived at the same
CONCLUSION by the uXcTCi- Of what some times per-
mitted from the bcuc-u little common sense. The de-
poon was admitted, and by consent 1t went upon the
record without being READ.
Ex-Governor Gardner then testified TO the numerous
orr1sous ON which the Commodore spoke Of the Bible
a. a good book and recommended " The Pilgrims Pro-
gr,,s Everything in hs relations with the COmnO-
Indcat rd that he was rational. On CIoss-tAdllud
non ne retOd the the Commodore gave ut ms
nrst aud only partnership cXpcreDce-that with his
brohrr-lnaW ferry Tor Tie cJlTylhB OF passengers
In and from staten Island Each was 10 carry the Com
moIurc said as as he could get, ana
me receipts were be equally divided OF the eud OF me
srason When The season was they met 10 settle
tnucL dih take I" asked the Commodore
How much did You takCF was the response " HOW
mich did YOU take I" the Commodor" repeated ana now
much dld YOU take the partner rrpcaed; but neither
tuld how niIcn he du actually take, and there never
was "A settlement. UaughtcfJ