New-York tribune., 1885-07-22
DEFENDING WEST SHORE.
4 RECEIVERS REPLY TO MR.. VANDERBILT.

RECEIVERS REPLY TO Mr.. VANDERBILT.
CHANGE OF HEART AND or PURPosE-rHE PROS
PEcTs OF THE ROAD NOT DfsCoURAGiN9
Theodore Houston, one of the two receivers
Of the New York. West Shore and Buffalo Railway said
yesterday In reply to the statements Of william H. Van
derbilt about the road recently published In THE
TRIBUNE: What chiefly interesting in the interview
the entire change Of position in regard to West Shore
Up to date In all previous interviews for publication
Mr. Vanderbilt has discamsd any intention or desire on
his that OF the NewYor Central to acquire the
property But little than two months ago he said
In answer to tho question, Has tho NcwY0rk Central
tried to obtain 1t No. Who road In tho shape
1t is In Now he says II else wants 1t he
must understand that the war Is not yet settled and Will
not he until harc the West shore"
"What Is the meaning Of this change OF front T.
Il think 1t found In the next sentence: This
fighting bankrupt corporation is tedious work. tell
you Mr.. Vanderbilt Is getting tired. The New York
Central stockholders, whose dividends have declined
from to per cent, with the certainty that they will
entirely, weary. Owners Of railway properties
here and abroad and the public generally are justly
indignant that the railway interests OF the country and
business OF ali kinds should be kept in state Of depres
sion and Generalization by ruthless aud senseless rail-
way war, carried for the now avowed purpose OF
enabling syn iicate OF wealthy spectators to avoid
loss through bad investment in Pennsylvania, and OF
destroying for the time being the magnificent West Shore
American capital, order that it may be captured by
rival corporation. Under all its financial and other diff
cues the business of the first six months OF 1885 shows
increase the period Of 1884 In the volume
passenger rac OF about go cent and In freight
traffic Of nearly 200 per cent. This is an indication of
the estimate which the travelling public and business
men place on the line as means OF transportation at tho
present time.
the public should be called and that Is Mr. VanderDlts
remark that All the business the road does Is stolen
f.,., fbof aptp Hnn uflst
producers OF the Empire State aud OF the United states
should ponder it well. From Mr. vanderolIts point
view the money which they have set apart for tho
purposes Of transportation the property OF the New
York Central II they eec t. travel or snip tneir goods
Money they pay for freight or passage stolen from the
indulgng in Vulgar ephets nor stop 70 characerlze
insoence OF person who takes such position In refer
ence to the capitalists and shippers OF this State.
Thirty years ago the Legislature OF the state New
York enacted general tairoad law under when any OF
build operate railroads freely they engage
In Other business. and II the clear intention OF
oes relating railroads should in this state for
ever; Mr. Vanderbilt does not apparently know OF
this law when he chaacterzes as thieves those VINO
build railroads which perhanee may secure some OF pe
business which heretofore has been tributary to the
New York Central"
" How ais statement that the road Is run at a
loss OF 81 Si,00O,00O per year T.
il not true afte, excluding the interest account.
n the bondolers will set aside that sum they can run
sna @anan ~ the business FOR the next es years And
IN my Judgment they could not dc wiser act than 10
OH their rights whcn has been waged for tue past eighteen
months nut has been openly declared until Low
Tne fact that the ammunition IL ready would DO more 20
settle the than anything else anu very lte "ouu
suppose II shold be the fact that Mr. Vanderbilt has
actually bought majority OF the West Shore securities,
would no not control the future OF the property +
Probably; aud could object 10 that method OF
acquiring control. There is law reason TO prevent
any mai body OF men buying railroad II they want
IL and able pay for it, bat there methods Used
Wrestling property frOm Its owners wnicn are
open to just criticism aud Conformation. Shippers by
flo War -hore nav hepu
New-York Central would eventually control the West
Shore and when that should take place they woul1 De
made suffer for their deseIuon This has been oenie
truth Is well known and ran readily DE accepted
when taken In connection with the last threat TO tue
bondholders which Is In substance follows; III you
do not give the NewYork Central the control OF your
property, Will continue tue war uhtll you are coi-
PEELED you dare sell the control to any one else
We will treat the purchaser In tho same way Ihis
cannot he called strike bacDail, but under
merit OF open challenge aud II IL Is not accepted tbe
bondhOders do understand their Iers0na interests
and the business OF New England. Nsw-York and
the great cities OF the West who have given the enter
prise the stamp OF their appioya by throwing upon the
line large business will lose AN opportunity which they
have long sought TO enancipate themselves from tne
grasp OF corporation which knows law except tat
OF force OF the receivers have no interest u
except interests OF those whose property the
court committed tn charge have no anlnosl-
ties CRAFTY, and desire only that result which Will
give TO every who has dollars interest In the
property a fair and security for hls Investment
believe understand the power and cipabtcS OF tue
property. and just fo- dscourascnent IN
the results which obtained up 10 date In tue
face not OF competition but OF war and war carried on for
the purpose Of conquest. The iuty OF the bondhoders
to organize and protect their property. They should
place affairs IN the hands OF Trustworthy men, and
the sefappontet committees whose sole purpose
viii show degree OF strength which Will enable them 10
uccessuly ward OF all attacks and the war OF extermi
nation Will speedily come to an end"