New-York tribune., 1879-11-27
seaboard. The advantages of the alliance are to
both roads great and important.
MR.. VANDERBILT EXPLAINS.

William H. Vanderbilt was visited last evening
by TRIBUNE reporter at his residence at Fifthave.
and Fortieth-st. Mr.. Vanderbilt came into the
ccption-room having in his hand q number of busi-
ness memoranda and looking like man of many
business cares. Ho appeared to be in excellent
health and spirits, and even to carry his
shoulders as if he realized that an enormous
weight of responsibility had been newly transferred
from them to holders of New-York Central stock
outside his own family "Well. what have we
now 7" he asked in cordial tones he entered the
room.
THE TRIBUNE would be very glad, Mr.. Wander
bilt to publish any information you may choose to
give concerning your sale of Central stock to
syndicate replied the reporter.
81 have just heard of it myself he said smiling,
as he motioned his visitor to a seat. when |
came home to dinner 1 read of the fact in an even
ing paper"
I'VE had intelligence, before no0n of the con-
summation of the SALE"
"Ihen you knew of it long before / did. No, l
can not give you any particulars about the sale.
The negotiations were entirely in the hands of
Junius =. Morgan & Co.. of London, and Drexel,
Morgan & Co.. of New-York. 1t is from them that
the details of the sale must come"
MAY ask, as matter of much public interest,
what line OF policy prompted you to make this
saer
Il don't know what to say Of it as n matter of
policy. did feel that 1T would be better for New
York City and when say that mean better for
tie New-York Central and for me, for we depend
for our prosperity the city, and the city needs
the New-York Central. A public sentiment has been
growing up opposed TO the control of such great
property by single man or a single family. IL says
we rule by might. We certainly have controlled
this property by right. But no matter. this public
feeling exists. We are charged with controlling Leg
islatures with using our power in manner injuri-
Gus to the interests of this great city, If it not
absurd 10 suppose that could hope to better our
selves by working against New-iork merchants.
Another object: There an antagOnistlc railway
interest which seeking alliances in other
directions | believed it would be better, at
the same time. to harmonize this interest
with the New-York Central, and all thus
work together in the interest of the City of New
York. 1t can no longer be said that am the owner
of New-York Central / have disposed of less
than half of my interest. but il now rests with
the stockholders to say VINO shall be at the
head of the management of their affairs. Perhaps
enough stockholders will send me their proxies
to keep where am now. and perhaps not. There
Is a great public Outcry against one-Inan power
Bnt in reality il rs the only efficient power III great
affairs like the management oi a great newspaper
great railroad, as III almost everything Use, pro
yidet OF course that YOU nave the llgnt KIM or "a
man 10 WELD the one-man power. If YOU haven't the
right man, II Is all wrong. When owned con-
trolling interest in the road, could serve the inter
eSts of the other stockholders no better than can
now for in doing most for them | do most for my
self. | am glad 10 be relieved personally of ihe
responsibility of the means employed To protect Such
n great property as the New-lOrk Central. People
have and might call me grasping, whatever the
facts the case, when TO protect The New-iork
Central, which was principally INV nv properly, pr fpp, !
connecting the New-York Central with the
West. such as the Lake Shore and Mich,
gan Southern. the Canada Southern and
tie Michigan Central. 1t was necessary for me to
make these roads part of the New-York Central
system to prevent their passing p;cT nGeT
would have used them IN a way preJu-
dicial to the New-York CentraPs best interests.
an outlet for its system of RAILROADS. either by way
of tine Pennsylvania Railroad TO Phladel;
%6s PR TO Btmcy y O HG Tss ba%SS eGSSe pHG 5S
tween continuing the competition for west
ern connections and making its members
my friends. thought It wise TO 90 the latter
have now come into the New-lork Central Com
pauy. The two systems viii now work together
nariuonlOnsly and strengthen one another This
is one of the greatest events possible Tor
the good of Ncw-York and for the New-l orA Cen
trail. These gentlemen live IN New-fork they
control great interests and whatever the manage
,neut of The New-iork Central and its connections
may be IN the future, they VIII continue TO be sub
servient To the commercial interests OF New-i ork
came from vouT
MY proposition was placcd in writing within
bankers who made the negotiation last
evening. l told that there was not
enough of II 10 go round TO all that wanted snare
III the syndicate, and mat IT was taken up IN lots
of million and half million. 1t IS to be placed,
as understand, for the most part in LONDON.
"What price does the syndicate pay T.
" For such information must refer you TO the
bankers who negotiated the sale"
"Do you anticipate rise in the stock'
"Yes. think 1t must advance consider New
York Ccntia and Hudson River stock worth $50.
The Central and Lake Shore have enough
trade directly tributary 10 them TO support them on
n pay ing basis. and if the Wabash continuation had
even formed a connection with Baltimore or Phila-
delphia and sent their business the other way the
Lake Shore and Central could have s,ood IT,
Have YOU any regret at allowing the absolute
control of New.lork Central to pass out of your
familyW
the stock more widely distributed and as for nv
self had to yield to publ:: sentiment. There Is no
use attempting 10 resist growing public opinion 1t
is very easy for few persons who have private
ends TO serve 20 start feeling public pre- udIce
by "A skllful use of circulars, newspaper Items
meetings and committees. They have used my prn-
ripaI ownership Of New-York Central as starring
point for cry against the proprlety OF
so much property being controlled by one man. l
have distributed the power held, and let us see If
they will be better satisfied. | believe that under
the circumstances have done right, and that the
public will say have acted wisely. ann,
Another thing" added MI. Vanderbilt. " Ihls
railroad committee means Railroad Commission
10 control the railroads OF this State. This comn it,
tee is composed OF smart men, and be-
lieve of honest men, but they don't see
the secret purposes Of the. men who stand
behind them and have been most active
in urging the investigation forward r, As
| said, what these men intend is n Rail
road Commission. And with commission
of politicians. what kind of position would
be placed IN supposing retained the controlling
ownership of the New-iork Centralf WHY. cther
| must own the commission or the commission
would own Inc. When such thlng impends' the
best course a man can pursue is TO withdraw, and
90 into something else.
AS to my retaining the management OF the Gen.
tralD he continued, "it will depend here