Los Angeles daily herald., 1886-04-28

aud all other municipal notices appear oniJ
IN liz columns.
Mr.. b. N. Rowe is tho Santa Ana agent Of
the HERALD.
A chapter OF Gouidism'
Senator Van Wyck, in his speech
in the United States Senate day be-
fore yesterday, went a great deal
further in arraigning Jay Gould than
Grand Master Workman Powderly
had ventured to go. The truth IL
that the career OF this man Gould has
been singularly Infamous, and the
very fact of his association with any
cause damns it in advance with every
honest man. His biography has be-
come matter OF history. His earlier
exploits were in copartnership with
Jim Fisk. Their record as bribers
OF Legislatures and Judges, while
unexampled, is we'll established.
The way these worthless wrecked the
Erie railway was perhaps the most
finished specimen OF the work OF the
modern Jack Sheppard ever chron-
icled. BY some financial hocIs-pocus
they got majority OF the stock-hold-
ers of this unfortunate corporation to
elect them and their friends directors,
Once in the seat OF power they laid
their plans deep aud we'll. They dis
patched their agents to Albany; and,
under pretense that the road-bed OF
thu Erie Company had suffered great
,ilapidation, they procured the pas
sag Of an innocent looking act which
permitted the directory of the cor
poration to issue additional stock in
order TO provide the necessary re-
pairs for it. This provision was very
cunningly framed. These ireebooters,
of course, always employed the best
legal advice. When they acquired
control of the Erie Railway Com
pany the capital stock OF that COM
pany consisted OF $2s, 200, 900, largely
held in England. The English stock
holders were alarmed, and sent a
committee representing their inter
ests to the United States, to stem the
tide of spolation. They were EN-
barked in a bootless undertaking.
They did not know the men with
whom they were dealing. II was ut
this stage that the interesting little
provision about the issuing of new
stock came into play. The Messrs.
Fisk 4 Gould found out the precise
amount OF stock their English fellow
stockholders had and proceeded to
40 them one better. They immedi-
ately set their printing presses to
work; and, having the original stock
and transfer books in their own pos
session, they proceeded to "snow I'M
der the "blarsted Britishers." Fas-
cinated with their first success, and
recognizing the facility with which
fast power presses could do Their
work, they never stopped until they
had run up the original S2S,OOO,Oo0
worth of stock of the Erie Railway
TO the enormous total Of SIP 200, 900.
1t is very often upon precisely an
alogous operations-the watering OF
stock to shameless extent-that the
American people are called upon to
pay dividends to-day. Senator Van
Wyck INDUCED in no oxaggeration
when he dwelt upon the infamy
of the colossal waterings OF stock
which have complicated the trans
portation interests of the United
States. There have OF course been
honest railway men and honestly
managed railways. But they have
been the exception which proved the
rule. There can be no question but
that the present labor troubles in the
East have been fearfully complicated
and intensified by the thrusting for
ward of this monumental robber
Gould as the champion of the cap
italist interests. 1t was unfortunate
in every respect. Intelligent men
concede the fact that the time is APP
preaching, If it is not already at
hand, when there must he change
in the wild and reckless latitude OF
action which some rich men have
accorded to themselves. The man
who doubts the resistless powei-oi
the masses under proper leadership,
and with a genuine grievance, is mad.
This Republican Senator talked the
other day, az he has occasionally
talked in the past, very much as II he
were Democrat. He must feel HIM
self very much like fish out of water
as a Republican. 1t is to be hoped
that some scheme of arbitration will
he devised by Congress which will
take the management OF disputes be-
tween capital and labor under Il
kindly and restraining guidance. To
accomplish this devoutly to be de-
sired consummation there are ample
implied powers under the Constitu-
ton OF the United States without
straining unduly that instrument,