Newspaper of The New York Herald, May 17, 1873, Page 5

Newspaper of The New York Herald dated May 17, 1873 Page 5
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ERIE Eeport of the State Select Com mittee of Inquiry. AH HJEDFFICIEUT INVESTIGATION. Beautifiil Muddlo of Money Mattel's. ENORMOUS LIABILITIES OF TIIE MMFINY. Story of the Coup d'Etat and Divi sion of the Spoils. Shearman's Attack on Barlow Denounced. SICKLES' RELATIONS TO EEIE. Ai.bany, May 16, 1873. By preamble and resolution puhscU in the Legit*- 1 lature on ihe nth day or March a select committee o live was appointed to investigate the affairs or the Erie Hallway. The time lor reporting wan ex tended on the uth ot April to the 23d of the same month. The following la the report as presented. THE BEPORT OF THE COMMITTEE. Tour committee, app? 1"ted ashere1 J11 ^ty'an'i "<??thSv proceeded .'"once &th? SJiStmAKi'in the flr^nstance Inthlscity, and continuing '^'^^^e hlve relr^d that the W ??'*'hear^T a"?0ncol^n.""lV th.7"^: Ss^wwsri.'s-ssr?i zssss & f,"", "he subject matter embodod In the first two pre- | J^CtolheTcU^o !nl iM'iorrt the torinal commence meat 01 their labors by ihe committee, tho dividend or dividends having been declared and paid prior to the time that tho cnuimltttoo began 1U formal w Tho restriction In the reso'u'ionss limiting the tu?e for Hie investigation, we believe to have been a nils MX have"foilnwed^the"run WcviK ci nsetiuence, itioonclinuonsinore safiHtactory. ^ wtt iii whose testimony was believed to be vital upon the fliiontioi) ot bribery and corruption, pertaining to leKisla fi\ i' matters were thus advertised as to the time nc?c*r ?? rv to absent themselves from the state. This, also, had H Diirticdlar bearing upon the subject ot the r?ccni a i declared bv the i.rle uailway Company. In order that oositlve and correct conclusions should toe arrived JJ Jninoini usttee be done to any one, it was requite th'?? a mochmore^ wumJam or thk sooks snd account! ol tbe company bo made, and wbl' h it was ?imnlv impossible to do in the time allowed, llowever, ?ii t as been accomplished that the committee could ven 2. nablv expect in tlie time allotted. It seeming probable that at thin late a.age of tho seasion, the liouae might be onwiUiPB to "rant a uirther extension of time, they dul nut ted iuslltled In undertaking a more particular ex a ni aon oi t..c books un.i account-;. Under tlic fore Jo ^explanation the following subjects were lelt.a? indicated by the preamolo and resolutions, lor iui|ulr\ and action on the partot the committee. The First ftneiUon. Whether the dividend declared upon the stock of the company outstanding against It in February, 187S, paid oui ot tlio net earnings ot the road 1 The Second Question. As to Improper expenditure of money by foreign Ktnealiolders or officers ol the company to effect the traiuier of the mauagetneut In Man h. lilt am4 as to the tiioi oi ii corrupt contract in tne negotiation ot its bonds, or reimbursement oul o( ,?c treasury ot the company tor ex uu that account or other accounts. Third Question. As to payment of money to Influence legislation con nected wi'ili >ald compauy or other Irregularities. The Committee on the Flnt Question, pohrnarv last the Board of Directors of the Krie Rai wrv Uiiim a," declared a dividend of 8* percent oi^'tMC Drelcrrcd. and 1% per cent upon the common stock tioni the earnings ol the previous six months on R.VI" '.L""_.i uiul ol the year on the common stock of the com'paily"^' amount o? the former wasMMI*. and ti h '.(MM) making a toial ot $l,trtK>,7yi w. it is in^ valence that the gross earnings of the company tpr the | 1?r lW2 werc ili7&,8^ 01; Uiai the expenses, including i ear ??.... $U\iilP,64S 07 (see exhibit I ^?U?*pagc. 3l7 and"ft),^tea?.?* is net earnings, $6,143, 28* 94 Ont o! this sum ?4,u6;,5ao 67 was allowed lor n nais Interest, Ac., and dividends tor the year amount- ! L IO ?'i jjc vit 70, as beiore stated, wa- also taken, leav ing Lt;ll a surplus of $123,648 67. (bee exhibit No. 13, rage i It was claimed by Mr. Watson, the President of the cToni, airland other officers of the road, that this.sum naid as dividends was due to the stock hoi J era out of the net rarninus ol the road lor the year 1K72. On the other hil.d It was claimed that tho profits ol the company for uTa viarcou d not have equalfcd that sum, that the divi dend was paid out ol borrowed money for the purpose of BtriMiifthnnins the credit ol the company in kurope, to aid negotiation of its bonds and in tho interest of mecabators in KHe stock, as well as to satisfy the clamors Jusmad holders abroad, who had been promised divi dends upon the coming Into power ol tne new r/gimr. The testiinouy ot Mr. l.ewis, Comptroller ot the Vnnsvlyanla renti-al Kallro.d is Important, as showing that the nietlm I ol making up the stitements ol the Eric Railway "on p inv upon w ich their dlvideuds were declared, ta XmTcnl wlth that adopted by all the road CO.f.OLlJCl) BV TUB PKI.NSTLVAMA COHPANT, Andal'owiu" tliat it is proi or. and In accordance vnth Tho vi v Mr" ?Mii, the President, to carry to capital account ol ail additions to the railway not necessary to kern the r< ad and eiiuipment? in periect order, then it nuav be cfalaied, irotn ihe testimony, ihat tkls dividend earned and was properly declared. Tlie commlttce Ja^ the subject Such carelUl attention as tliev iVre able, but, as before stated, In the limited d them they were not able to n"ke that personal and' crlUcal examination ot 3,e liooks and account^ oi the company whl( h. no doubt wlfnld have afforded c. n lusive evidence upon the point a- IsSue It to, ailisr all, lor the Legislature to determine whether the ccursi nuirked out bv this company which, Is can be <"early seen, V up, will greatly In ctcw the cupnal oi all railroads, and which has already led? the doubling within a recent date oi the nom n^ eanital ot the New Yi,rk t enlral and o, the Lake Hliore ir' c p. rmitted, or shall be restrained, by posl Cv? legislation. iVhatcver course Is finally determined ?i and a ion ed should, no doubt, be taken bv means ot general taws, applicable to all the railroads ot this ihorp in rim iiitikT oe vhaps, in the recent action of the Kri< Ijtilway < (jinpanv thai warrants any special legislation to ^ conflncd to it alone. Any conclusions arrived at In thl? have to be based upon the conflicting n on^ot several witnesses. Mr J. I>. White, treasurer of tl'io company uulil March 17. 1871V, testified that at the J ,e o. t> overturn, in March, lrf2, the company was txn rowing money tr<im time to time to ini ot current cx uTn??s and that on tho day ot the trausier ol management he produced a state.n nt showing the cotn tjauv lo be ^4,0(10,OUI in arrears, wi h no money In the freasun (see exhibit No. It, puge 144, showmg amount ol Itoaiiru debt at that Ume>. On the tat of Ma-ch. 1873, tln re v as no money to pay the Infcrest *h'ch ' tt(L{,]fp tutcd amounting to about $40?,0wt, tan(J Mr wntte claimed iliat the money with which this dividend was aid. in February, came from lllsclioftchelm and <J<'ld ?ultnildl, beln. Uieproceeds of bonds n> goijated by them. Th? primed statement of the couditioii ot the >roflt.and lo?- a. euunu made July 1. ivi, alter providing t?>r th dis-iii ad on tu. preicrrnl stock payable Jul!.16, leTaj ?h..Wid a surplus of ???.(*?. the witness. White, did n.,i itilnk thai the dividend on the common rt?k amounting lo $l,;i6ftOUO could have b,ti paid iroin tlie |irotlt-i of the last IT monVlis of the yea- IH72. Mr. Moroslnl, the then A ?(?'...?r, who mad s up the July statcmttiit, swore thatn a coaaacr or front a?d ixiss aMMini from the Iwsdts ol the company tor the flr?t six pioru'is . the Tear p:ige HH.I, It .howed, excluding the dividend n tne prelerre.d ?u?k Ti tal e.jrnlui; s?Al W Total <N*?' o^thVei'mtrary ' thaitaiement''e unby K.I1. Uun'in, iha^ie^nt \u"l??r"i the con. .any. and upon which ihe Kcbruan dividend wan declared, showed tor the same Identical six mouths:? ^|^ ^ Total citfD '.V.V.V.V' ?'.431,010 .toUl expeuses _T _ __ Net earnlris ??? ? v.V* $a,3H7,01n ti? t'unSn tetlfc <!'th a t^ 11 ic^t-i'omc n t r--n?M;;y VZrc'^%^' reterenco Wo "^J^l^'pres'jdejjl Watson's testimony w is to the edect tbathe Knd, !o sariity buoseli, gone carefully th.' boots and acemint* oi the company, and >VJ" "*,'5 de l III., t the stiuoneut oi Auditor iJunun was ' \ t Tho diverenatv v in ';o iwoftsteinciiU iiifiv he wcoinlfirt i?r in part, from th laet tluttin Mr. M'n!lAfloatin 1 Ahc rentals and oit tne morVagc aid , ^ "leht s added to the ?fxpeuse account. In he n her compnrajiv.) s.atcmc-a they are o> tted, hut brought into the profit ai d 1 .si H' :ount, upon Which the .livKU'tuls were declared, Mi. Wuit^on tlalined that t jiit>i"*y which should hate beta ^n the t ' Ton whtc B lo pay the dividend had l> '.?'U '">lrrowP ^ ? otrnc: nwi aecontit, an 1 (hat it wis l?r'.>P,'r'o nayi_ack _ jum out m the proceeds ol tbo oreigil loan. At fhe tnj et Itigv- liK-Csd. clared Jie dividend ' Mir ol the direejr Voied saalrk^t It, uiuinlv on the KrouiWUtlMit the ai I was it* xpedleut, while U.c oouipany whs borrovijag miifwey U: Increase its incilitlc* and to oaf "lu r.'st oil Its debt. I he oilier directors, thlr leea Jn all. bucil their action Hi on tne rtate nipiits 0? the I'resulent, .Mr \>at^on, and tho Auditor, ?. i hout a?;v pt,.raonal Knowlodge of their own in r> latinrt t.i the p. olll,' orAlw coinp 111 . i he testimony Is so inurll i in wii.i.iet thKt ywar commit ee l aiuiot come lo an al so Intl' conclusion uJV1 this branch ot It. It la. though, but list lo slate that tMJ do not believe ihat the preacnt Bfflcersol the Krie .*Uffway Company have knowingly falsified tho sUlcmeni^^ade as taken trom the books ot tbo company. The tie* vudttor claims to have lound ma sooks in a WSoanKiar wmniTioa, and to have introduced a "ystem o accoiitila. These ran esmav, and (irobahl> h .J? the coniurton and A\u/ivAniirii'v wtAt"tl Tho Wi i' 'orat.o P. Clark, und dh. rsf, ave evi .ci.ce that tha^ Rfnnr?".r0"?l!'K had, o? late, largely Increase,I. 6 menl a large decrease o( , a pi e ,whi Ii^ could hardly have been unless nn undue a.^g"1'1 ?}? ' been >.si red lo construction account, and too ..11' , pr. c. Hon ol true ~ and pnient. ""-xi, Vii t. t,.! W .p oc< i,"oui t. iv thai they have the ltn'? 1 " '< ? and Integrity ot r.c ideni O^leon. ol the iuir to pronote the well s re ert gT nttul are bring ue la tbo he .d.aml ?h?t ?e ?? re-establishing conduct 4 by h'm wt h thejgto '."'^vrnocs. The u-k of its credit* nd ?'nt to ito stockholder. making this road a uuJJ|i4 it(l |irntti! *auge and iti heavy 1. not an easy <me. With it. bmaa *W>al 0?e of u,e grade. ,he , , ,5,ul. in the ooHittry A partial off n.oxi 15 ibiTcoal fields ot Penn bonded debt arc very large. Large sylvan a. It* ?** ?' ( lg (mVe, tnder former adniiu amount* <)lme^ the w,,?? ol it. manage "J. ThVwToiusn were -old at ruinous rates and atter ! uleVV?!v<rtcd n'o stocX, * hlcb now stand- m ill P*r w",1 Kh dWidVnda. ii male, must be paid. ^l^h'rh ^? ?aVlly em..M irotn the traffic passing r?he railway The liabilities of tho company. Jnclud ??? itL eauital .toek, shown by the statement lor the I are about *I8?,OUO. Tiim sum will be cou*id I crahly Increa-ed 11 the proposed reductionof gaj i*?<? <imibu> -tracking is prt>?ccued with, lo idik* ai?ir re turn lor the ltinfe investment will require the economy and a wise, lur teeing and energetic uiriit The committee nr.' fully justified iu alluding thus to this If real high way ol internal c<.rivn';rco t'. iwe. n he ocean .111(1 the take and the great Went, tecauw? ? ? matter in publie concern and interest, V25triot line mav very properly, and should, we lielieve, re lrict by stuiuie 'he ol any unprofltable ailiaM* or " .mpli.'.1 . >ns between different roads tothe ? ? the public Interests, and director* should be limits iu creutiug debt _4I__ The Committee on the Second Question. Am to tho improper expenditure ot money In *J*e.vr fer olHiunageinent, and as to ^^aSwSSSn* t8S other accounts ot ?uch expense s irom tu Krle Railway Company. ^atw,nRflon flrnt witness On commencing the examination h%VQm hU u<sti. called was Attorney General bar 'artoji?7i James mony it appear. t hfjother fcnglLh stock Mclleury, hw|., "f lj"nnd""'n*", ..none hide by the holder*, who were repreteii sa .. i alW) 0t bankers Blf h"^hcr ealfed the Heath and Kaphael parly?'re^reiC^iUsd ^^..od "ul^n y$frou? cffo??to mm M:under to .|i?> \h ritv ,in(? nu>aim to procure 8U<*.h with the ii.M e^Hi7 .ulh??rlty B?.llin,^cle^ iu the legislation and; t u )tl th(. desired change ol llourl* as woutu r . t|u. suits to be Bf^taa letter dated Dec'omber 30. 1*1, informed n.Cm!ral Bartow that he was authorised to employ oouu flt.m ral Hario personal eo-operatlon and asking Kl?TO?e^WU.ehnSinPeSMSr such associate counsel as would insure ^ VIOOROit8 i roskoutios nf the oeeeswirv proccdiiiRH. -At the #ame time nc placed in his hatlds the sumof $10^)0 ^disburse men 111 the matter. He afterward enclosed $2.000 mort. Hie lU'ntli and Uanhael party added to these -urns $1,W, making In all $18,1100 placed In the hand* of Attorney (itsneral Harlow. Mr. Barlow at once proceeded,to eiii plov a. counsel Messrs. Tren.aln, Ilale -nilth. McFarlainl fium * P Is ce d Vn ti i s^h a n (ft. 'feXys^cM^ Hwas A6bU?^a* ft^^iirod^^d^re^iffini; the^o-eaJU?ir^l^lj ill ation act Hut at the time neither ol these bills had been nawed b* the LegWatiirl? Preliminary sle^s were being t^Um'of mi?ttei?lMiUt)^Uth day^f ^archT (Tftil in the managemeut ot the Erie ^"I'^.'^hMnt^r" st which occurred on that day, put the partus in intcrist in the proposed suit in possession of the road, thus re moving the necessity lor bringing action, and conseinicnt iv none wa" brought. The passage ot the tirst named bill ait. rendered useless, 'riie "ill repeal tig he Classill catiou act was afterward passed, with little, ii any, oppo sition TTie greater part of the sum piuceu In the hands of Ueuera Barlow was disborsed tv nlni for counse fees a,Id "the? expenses, and the balance o 19 was returned by check to tjcncrai Sir'kles with a detailed statement as to items disbursed. (lanera^ Barlow was solicited by Siokles, in a [ettcr, to rot-nil this balance In his haiuis for personal services, but which wasdeclined. and tor which he gavei his WMon t*w DHcre 8 nrinted ?nt testimony 01 5Sp Routlunayd wai to like effect (see evidence, ? tK it has been charged that the retain PnL^f Smith was Inconsequence nf nis being a member rtHhe Legislature at the tfme. But there was no evidence two ItWiU decided that the I .est selection would be to l" '"nti zaUim UUT^ieS,a were ''freniain^1 lfiile and Smitl!: ^^8pSrtbde ^^erWMi?,JnritthU,dCiSaSSSng either ol the bills presented, and did not appeal betore .ii .li i,, ,?r?W.n?>? thereto, so tar as shown, and dul 1 n?ith 1 iiffTuconsistent with tho position occupied bv him I So^arisOencrll BaXw Is concerned, the question Is k Uv i nti ni and tVoin all the testimony belore the ?3i rJie not^appear that Mr. .smith wasre coiiiHilttoe, it_aoes oa> ?{' litigation, hut that he was ' miuilove'd {tor fhercason. and that alone, of Ills familiar sSfmrrfgura fcrW'To "reason" 'We a! to'rnev (leucral acted upon proper motive* in Attornej ueuera o) requires all actions lor ' !-.val of dlreSnrs of a corpi.ration to be brought I v' tbo Mtortiey General, under which it becomes proper ny ino Aivui Mt J defliruute counsel ; which, in thirt instance lie proceeded to do, butwithout, ^n the opinion of "our committee, iu any manner $^r The Alimony ^ MrS'O. ShelrmK the'effect doub le' ii art?that 'whl to j^robJsse dTV carrying on a'sult^ in a large 7,^^ rZl? ^"?,oWltresuVt'U to^^nr'^n. Uf "roS the^b*ncc*of1 an\"proof wVmtevej.5 not resist the conclusion that the whole story JvajJ.a cat i on and th a t the parties ulvlna. currency to the talc blacken tl.e ?ha?Ict?r oVthe Attorney General, is deserv ing of the severest censure. thk conr n mr. . .. . Ti.???/i<Voiiif Mareli 11. 1172, whlcn resulted in the decided to at'afn hv re'.-oluthin that whkh they pro theaffairs ot that corporation were managed lntotal di?retrnrd of the rights of stockholders, that the officers aiid managers were enriching theuiselvu. at the expense of the real owners of the road. Strenuous efforts had T,r?*viout?lv been made to get possession ot the road, but kail failed While the proceedings before recited were In a't Albany another scheme was entered upon which If successful, would render action by the Courts ?mi the l<euLslature unnecessary, and accomplish at Hn.., what ln thc oUier case, wotili very likely consume month" or years It seems to be a matter ot some dispute as to who snouui claim the honor of conceiving and carrying out^ gRIILIAST TtKrT or ^ratkht which resulted in the discomfiture ol the then existing direction and the installing in power of the new Board, who were understood to be favorable to the great body ot toreiirn stockholders. However bold aid ingenious the nlan or i owcver well skilled and talented the actors It Fs hhIc to say that hut for the gold ot the Knelish stock hnMeri th,, whole scheme would have met tin igno mlnions fhllJro ororing again the efficiency of a well lilleu cauip chest in a campaign against an enemv fertile in resources and crer on tne alert. 1-roni the clmtrarltv of testimony upon this point, it appears that while matters were slowly progressing at Albany, Mr F A. Lane, then counsel ot the Kr'e.^?'"',%Py, ^01"i menced the work of bribing a majority ot the Board of Directors to resign, thus clearing the way lor the e ec tlon of a new Board. Tnis was more easy to accomplish, from Uie tact that Mr. Oould had also contemplated fomi ln? a new Board ol Directors to give the company stand? ing before the flnancial public and U?l? would wnd into retirement the members of the old Board. Henee thev wero not loth to nut themaelres ui the market ?' llavlnr seen certain of the directors and arranged with them that thev should resign on receiving certain neeu nUrv considerations," l^ne at once communicated this fict to Mr W. A. o'Dohcrty, who Immediately couimuni cated by cable with Me Henry, ol London, 'offer ing him a nu?jority of the trie Board ln consideration of the payment^ of $l.!WJ,(ino. '*His retdies were for some time Indefinite, but he ulti mately aereed to pay that amount," and the necessary fi nds were placed in the band, cf Blscheffshelm A to,, ot l.ondou. brokers ami flnancial ageiU. Mr. s. L. M. Rnrlow wh ; uext admitted to the confldeneo of the par S" engaged who being McUenry's legal agent Ei this country, also telegraphed the former urging liini to find the money ami carry out Uic proposi ti m. Thus matters were definitely arranged about the middle of February. But McHenry had seut out Mr. George Crouch as a sort ol man of aft work, who, in some wav discovered the plans ol Kane, and communicated them to General Sickles, whose pride and jealou-y were naturally aroused at this clandestine attempt to rob him Sf w hatever credit and profit there might result trom the, operation There was also the possibility that some ot ttfe halevon political anticipation. whH hJe was known tl entertain might be seriously curtailed or come to nauiihtlf he should fail to appear as generalissimo in the grand Brie revoluUon. (See testimony ot Charle. P shaw ) Accordinglv, Sickles set frouch secretly at work Negotiating wltn ifce same parties and to the same end. *Bv sk 11 fnl financiering he lound that the result could b" accomplished for a le* sum than had been lianied by lame and O'Dohcrty. and so communicated with "io^enry, who broke olT the lormer eiiKagement Barlow also united with Sickles, and succeeded Anally In harmonlring conflicting interests by a promise of P??< H.. w on the new board or of sums of money to tlio dis affected parties Matters being finally arranged aware of the matters In progress, but cnost. to allow the conspiracy to proceed to a J'1,1'"J; ? hen he wi, to bring to Ins al.l his old ally, an it unc tlon, to tie served at the opp .rtune moment, and thus to thwart the scheme midway In execu,ion. btit ^eagrM Slve parfv were too reckless to hee l '.''I* power, and, by disregarding the Injunction go .ct al poiwesaion of the Board and offices ot the cot Hisny General Dix was elected frcsidant, H. \?''? Treasurer, and S. I,. M. Barlow counsel. This action wax made letral noxt day by ??,? dcncy, and cau-lng a re-election of the new Boar.l, the reported consideration for which was the confirmation ol certain release, irom claims by ihe Krle road. 1 ho amounts disbursed for the 'Teform" of Rrie to the va rious directors wlio resigned, were #67,.MX) each to Lane * liioiiipson, #.*J,u00 U> Simmons, t40,WI0 to Archer, and immsi each to ntis. White ami Hilton, making. In I, $30*1,(10'). Mr. O Doherty altcrwards ree dveil ij., mill, and Gardener $26,0(?); 'Crouch was also paid UO IMO, and General Sickles, on his return t<i l.otidon,was i>.?id $ldO,UOO, or more, according to thr statement of wit iiessc.s A bill was al?o rendered by Sickles aimiunting t>i about $(10,0110 tor disbursements and, includ ing bis hotel bills while In this country. This 'alter amount was directly paid out of tfic treasury ot the Krle company, lor which vouchers were shown. The whole amount expended in connection with the *,u , rfv'u was stated before tl- Board by McHenry himself in July last, as per Barlow's tesUmony. to be about seven hundred and fifty thousand dollars. In order totully understand the nature of this transacthin, which without authority ot law. In a ?taglc day revolu tlonlzed ttic management of one ot the ,4??iJlnB railroad lines of this country, rnnilng the entins length ot the Utate of New York, ll will be necessary to analyze b^e"y Sic 'mitives ot some of the ac ors. McHenry atid Bls Th.jWieiiu A Co,, of London, appear most proin iSfSt m the persons claiming r-pre t?S great body of Kngllsb stockholders ThcrfflsSp evidence to sLw that the latter .. f?r controlled any considerable amount ol stock urevloM toU)e election in July. It Is in evld -nee that previous tow advanced more than one-futit the stim ZJif W the d.t.ctors .nd '^er ^uyose ?l-rsri'tf tt weltare ot "ihe Krle ro id Ho mu<Wb disinterestedness Is not common'y as, r.,'?i.wraa mill Intoiwhtj'n h?Vr^'a^Z/rV-rrstlon ?p?eV?u"g $ltia,0H0,tM)' el ?'wk"uil?j blinded d. 1)1, and wim?e utlaire i are currently oeuevea in tie in an insolvent condition. | 1his road bus Its principal connection with the Krie K*H I way, and Ik main y dependent upon it ior the through triune passing over i's truck. It Is fair to con ? elude, Iroui the tcs l.nony, that Metienry's ob I Jert In controlling the t rie hoard was lor tho pur ' {lone ol forming niinate lelutlons between the I two roails an<l thus to hen tit the property owned by hi 111, viz: Atlantic and Ureal Westtfii. lhe preaant I board was approved by him?Mellenry himself Itelmr pres etu at the election, fiber evideucn la not wauling ol this purpose. The counsellor of the Krie road Is also counsellor lor the Atlantic and Great Wester^. and lias been mr a number 01 years. For turther testimony on this point see page TJS The Krie Railway Is one ot the gr a est arteries of commerce between the l ast and the West, being u clnei competitor tor through traffic. It Is theretore, a matter ol vital public concern that its affairs lieeonie not laia'.ly embarrassed bv the carrying ol dead weights In the race of heallluul competition, melt a danger. In the minds ol your committee, would bo in.niiuetit li its 101 tune? were (improperly) linkca with that of the road we have named. Aside from the motive* which inspired the policy, and the actions which resulted in the OVKKTHROW OF THB <iOtlt.ll PIRHCTIOR, tho manner and the m 'aiis cannot but be regarded with the severest dlsa.'i rohaiion. Ami the fact that tlio movement was inspired, an I this larire uinoiint ol money advanced, by loreigtic rs. having no other loan a Hellish Interest, and In contempt of the laws and tribunals of the suite, renders this proceeding peculiarly offensive. The spectacle ot a United States Minister to a lorclgn Court leaving his duties there and lending himseli in tho exe cut on of a scheme ot this kind is not caculuted to heighten our respect fer or to insuire confidence in tho integrity ol tlie public service under our government UKIM HUKSKM1CNT. The snbtect of reimbursement of the amounts used to revolutionize the Krie hoard was particularly specified iu lhe resolutions under which the committee acted. It is In evidence that the bill ol General Sickles lor ex penses. employment of count-el by him and others, amounting to about seventy thousand dollars, was paid out ot the Erie treasury; vouchers to that effect were produced. At the July election of directors Mellenry and other foreign parties, representing stock of the company, were present, and claimed that tho whole amount ol ?760,000 ought to be a charge upon the company, and, utter the election, at a stockholders' ! meeting, at which $60,000,000 ol stock was represented, it ! was voted unanimously that the directors of the Krie ! company should take ah eurlv method ol reimbursing all tho actual expenditures incurred by those few stock holders. ^bee Barlow's testimony, puge DO.) In the testi 1 mony of President Watson (page liWi, he also savs ! that at the meeting in July a resold tlon was passed Instructing the hoard I of directors to audit tho account lor expenditures and I then pay II. The account was referred to the Executive | Committee, upon which final action seems not as yet to I have been taken, hi a statement of account Irom Blsch j offnheim A Co. to the Erie Railway Company, made in January last, may be found an Item of tSO.oOO lor ex penses, as pel Mcllenry's instructions. (8ec exhibit No. I W. page 220.) Mr. Watson claims that the payment of ! this item Is not yet acknowledged. The bal ance of the account, as per statement, was drawn for by the Treasurer of thp Eric Company, and no protest made against the charge of jErtc.Ot o, nor any demand for a statement of lite particulars ol items until alter the commencement of this investigation. No official action has been taken by the company, either in aknow ledgment ol the elann of Bmchofl'snelm * Co. lor re imbursement or to recover the moneys still remaining In their hands. Shortly before the tune for '.he election of directors, In July list, a contract tor the negotiation of $30,000,0;*) of consolidated bonds was entered Into wfth Blsclioffscheitn A Goldschmldt. This contract contains some unusual provisions. Between six and seven millions were to he sold, anil 921,0011,000 are re served lor the ennverson of old bonds. Bin the contract extends to the year 19:0. and the commission ot two and three-quarters per cent is to be paid oil the whole amount, whenever sold or converted. In regard to the $23,000,000 the only bonds for the old, and to stamp and coun service to be. performed is to exchange the new tcrsign the same. As on whether this is an unasnal commission on the seven millions there seems to be some conflict of opinion by different witnesses. Hut your committee are ot opinion that, un der all tho circuuisumccs, the rat? ol commission at thai time was not too large upon the amount of bonds actu ally negotiated; but upon the 9X1,000.000 which were to be exchanged lor the same amount held by the Farmers' .Loan and Trust Company and by J. H. Morgan A Co. the rate of commission seems too hign. and may have heen INFt.t'KM'Kl> BV F.AST HKRVICKS rendered by Bischoffsheim A Co. In effecting the revolu tion of the Erie board. This inference is lalrly justified from the testimony ol several witnesses. The advances made by Blschofisneim A Co. of $4,000,000 upon the bonds, soon after the new directors came in, no doubt relieved the company from embarrassment, but they received the usual rates of interest on these advances, in ail dltion to the commission upon the bonds as soon as sold. The rigbi to reimburse the extravagant amounts corruptly employed in overthrowing the Gould direction, from the treasury of the Erie Company, is not in tho minds of your committee in any way de fensible, except upon the principle that "to the victors belong the spoils.'' The interest of Mellenry was with tho Atlantic and Great Western. Bischoffsneim A Co. were large deal ers in railroad securities, particularly In Erie stocks, and their principal ofyect in the movement was to speculate upon the rise which they believed would en sile, and winch did ensue upon tho change ol manage ment. It Is well known that the latler, at least, made large sums In the advance which followed upon the stock of tho Erie Company, from about thirty to sixty-live eentson 'he dollar. These parties then, should have looked for reimbursement out of the results which (ol lowed mid which were anticipated ly them. If the prin ciple is to be established that a few Interested parties of stockjobbers, having no permanent interest, can, by the corrupt use of money, or liy violence, take and hold pos session of a great railroad corporation, anil reimburse themselves out of its treasury, it is time the matter was understood by the public. Snch a policy would destroy all stability In rallroud management, and place at the mercy of a tew adventurers and speculators having the boldness to advance the means these great public enterprises, the proper management ot which Is so essential to the welfare of the whole people. From the testimony of Mr. Evans, of london, and others ; it would appear that hv the change of administration, i together with the contract with Biscliollsheim A Co., and ! the advances made liy them, the credit ot the. eouipuny j was greatly improved, and. perhaps, the danger ot m in solvency averted. Its stock was doubled in 1 valne within a brief period and the value of Its securities increased and made available; but these were I fortunate incidents following the overthrow, produced in part by a belief In the integrity of the '?reform" direction, and of which fortunate results Bischoffsht lm A Co. arc known to have availed themselves to a large extent by the previous purchase of the stock of the Erie road. Tike Committee's Answer to the Third liaeiilon. An to payment of money to influence legislation con nected with said company or oilier irregularities. The testimony of several witnesses was taken on this subject, and although the Information acquired was not as specific um could be wished, enough was obtained to show that the railroad companies have been in the habit ot spending larite sums irom year to year, either to secure or defeat the passage of bills. In the minutes of the directors' meeting of the Erie Board, held July 8, 1872, was found this resolution "Resolved, That the treasurer be authorized to pay $30,000 us this company's proportion of the. legal expenses of the New York Central Company at Albany last Winter to prevent legislation affecting prejudicially the interests of this company." (See Barlow's testimony, page 119.) This resolution was passed upon a statement before the Board that the Central Company had cx [tended a large sum at Albany to defeat the pro rata freight bill and other bills in which there was a common in erest. A ? voucher was drawn and approved by the auditing com mittee aud secretary. (See page 157.) When this came | to the treasurer, he referred it to Mr. Watson, the President, who directed him not to pay it at the time, as he wished to satisfy himself more tuny as to the nature of the claim. There is no evidence showing thai the amount has actually been paid. Yet it appears conclu sive. that a large umount, reported by one witness at $1110,000. was appropriated for legislative purposes by the railroad Interest in 1872, and this was the Erie's propor tion. Mr. Dlvcn's ver.-ion of the matter Is this, that after the adjournment ot the Legislature it was represented to him by the managers of the Central that expenses had been incurred at Albany, and request ing that the Erie bear Its proportion. (See pages 270 sad 271.) Afterward. Mr. Dutcher, in behalf of the Central, came to him and represented that, as agent of the Ceti tral, he had paid the money to Mr. Barber and Mr. Van Vechten, which was by them disbursed, and named six Senators who bad been paid $B,(J00 each tor their votes on the pro rata bill. When first on the stand, Mr. Dlven conld remember but one same. When recalled he remembered one other, and gave the name* of the two Senators, but added his belief of their innocence. It la but just to say that Mr. James Wood, one of the Senators named, afterwards came upon the stand and swore positively that he had never received a dollar, directly or Indi rectly, fur any vote given as Senator. A sum was paid In the House to defeat the Milk trans portation bill, but no nuines were given. Mr. Van Vech ten and Mr. Barber were both upon the stand. The for mer had usually received about $8,000 per year from (lould or the Erie Railway, which had, he said, been retained by him for legitimate legal services. Had never paid ?nv money to members of the Legislature, so far as he could recollect MR. BAKSKR ADMITTKD RKCK1VINR ABOrT $80,000 from Dutcher In 1872, to be employed about the Legisla ture, but could give only an unsatisfactory account of its use.. The memorr of this witness was very detective. Could not remember how or when the sum was received or to whom it was paid, except that a part of it was used to meet a note which he had endorsed. Could not re member paving any portion ol the sum to members of the Leirigiature, and did not recollect telling Dutcher that he had, but did walk up and down the bill anil talk with members a good deal. Your com mittee were not able to corroborate Mr. Dlvcn's testi mony from Dutcher himself, as he was absent from the State, and so remained during the continuance of the in vestigation. This, at least, is in evidence taken be fore the committee that a large sum ot money was sent to Albany by the railroad interests in 1872 to Influence legislation. In what manner it was employed the committee are not able to say, further than already stated. It will be useless to ex press an opinion upon a question whereon the public and the House are as well qualified to pass as they. To sav that no portlofi of th.s money was disbursed to individ

ual members would he to attach undue crcdit to the conversational powers of the men having it in charge. From the testimony of several witnesses it appears that men outside the Legislature spend their time about the Capitol, from vear to year, during Its sessions, with no visible occupation, except to * rve certjiin Interests by their Influence with memnf'r*. Home come voluntarily, ready to engage lit anything that may turn up. Others are sent here by various cor porations and interests lor the purpose of guard ing their rights, as claimed, but more frequent ly to secure additional privileges or to combat the schemes of rivals. These persons are popularly termed the "lobby." Parties desiring legislation ot a doubtful character furnish considerable sums of money to forward their schemea, and employ the "skilled talent" of the lobby to dispense It, innocently supposing that their money will bejaldontto Influence votes, but. generally three-fourth* of the sums burnished are retained bv the lobbyists themselves, (see testi mony of Alvord, page ?77.) Tills is an evil of long standing, which has Increased with the in< reax1 ot corporate weal h and rival Intccst-s. II has been denounced by the press, anil should lie condemned by every lover ol pure government. It Is not easy to prescribe n remedy, but your committee believe that the evil wouid lie materially leseencd by the enactment of more general laws and more stringent provi-ions regulating the affairs of corporations, aud by some constitutional provision interdicting special legislation upon subjects which oxperiencc has showu lend to corrupt results. Destroy the occupation ot theso men and you banish them from the halls ot legislation. Remove the temptation and evil consequences will lie forestalled It should not be in the power ot the Legislature to grant or to withhold favors tor which they are importuned daily, and npon which depends vast pecuniary advantages. It is further In evidence that It has been the custom of the managers of the Erie Railway from rear to year in the past to expend large sums to control elections and to Influence legislation, in the year I8C8 more than a mil lion dollars w?i disbursed from the treasury for "extra and legal services." 1 or Intcrestings item* see Watson's testimony (pages IN, SU7). Mr. Gould, when last on the stand anil examined In relation to various vouchers shown him. admitted the payment dnilng tho three years prior to 1872 of large sums to Barber, Tweed and omers, and a so large sums drawn bv himself which might have been employed to influence legislation or elections. These amounts were charged In the "India rubber account" The memory ot this witness was very ueleciivo as to detail*, and he conld only re member large transactions; but could distinctly recall trial lie had been In the habit of sending money tm<?niMi< runs district* nil ovynho Htafe^either to con trol rk munitions i r elections tor Senator*..nit member of As enffriy; Considered Ihut us a rule such Investments paid be tcr than to watt till IM mi-got to Albany; and addi d th<Xj?i>'milcant re-nark in reply to a question, thai ! it would be as impossible to specify the numerous In ?t>nces as it woul I to recall to mint] the number of freight cars lent over the Krlo roa I irom uav to (lay (set? testimony, pace ??). It In not reasonable to suppose that <bo Brie Railway has been alone in the corrupt use ol money tor tho purposes named, but tno Midden revolution m the direction of this com piny has lad bare a chapter In the secret hi tory of railroad u.aiiugeiueiil such us baa not been permitted be fore. It exposes the reckless ?ntl nrodlpal use ot money wrung from the poople to i the c ectlon of the people's representative* and to bribe tliptn when in office. According to Mr. Qouid bis opera lions ex end d Into foBf different rttat?i*v waa bin custom to contr.bulc money to miluence both lion t nations niul dec ions. What tno Krlo has done other great corporations arc, doubtless, dorug Irom year to year. We have liere ?imply hh acknowledgment ol tho tact. Combined as they are. the power of the great moneyed corporations of this country are a standing menace to the liberties of the peo ple. The railroad loi'by ttaiinls its ill-gotten fains in the faces ot our legislators^ and In all our politic! the dehas- i ing effect ot Its imliicuce is felt. The evil couies partly Irom the charactcr ol the men who manage our corporations, and partly, but chiefly, iroin the macrnitu lo ot tho railroad interest! ami the unrestricted sway which the laws permit In the conduct oi their affairs. also be admitted that some portion of the legisla tion proposed. In relation to railroads, is lo compel them to use money to protect their existing right* This vast interest bus grown up mostly w Itbin the last twenty - five years. And the railroad system in Its mater: il a.-peets is, to-day, a proud monument to the industry, enterprise and progress ol the country and ol the age, and should receive generous trcutmeut But .11 this free growth there is danger. Restrictions which seemed ample when tliesu enterprises were in their iiii'uucv, and when the country win struggling tor internal developm ut, are now i(utU) inadequate. At the time ol the formation ol our governments, state and national, and for many yoars afterward, trie wi ter routes were the great channels of internal commerce Mo one dreamed that they could ever he controlled by a few uien. Hut railroads have revolution)/,ed tt.irtlc. itid tho danger that was not then imagined Is now aa existing ca lamity. 'I l*se franchises, which v ere granted to sub serve public uses, ami to which private interests were compelled toyicid, have lieen In many casus perverted to speculative purposes and the establishment of practical and grinding MONOFOLIUS, RSDU01NU TO * VOMIT TTIE IlfCOMK Or THa 1K0D0CKK, and increasing ?o exorbitance the prices of the neces saries ut lile to the consumer. Goroorate vealtb has ![otie on increasing ti> an tilartnlng: (extent. Vast private ortunes have been at 111 mtuied oy the men who control und operate our railways, and these advantages tlx v are not quick to relinquish. Tim business interests ol the country arc demoralised bv the mania for stock gambling, rendered hazardous by the constant Watering Ot stocks, by which a fictitious value is Im parted to railro.'d securities, which would otherwise ho stable, and traffic la hence unduly tn ted to secure to 1 hem a value. Another evil is the indiscriminate bonding of towns and municipalities for railroad con struction. Withal come rivalries, and the con tinued reaching out for additional ud vantages through legislation. The evil is deeply seated, und no superficial remedy will be adequate to its correction. No law that the committee can recommend at t'us latn day ot tlie session will reach the eutire case ; but tiiov will take the liberty to suggest that. In tlieir opinion, tho relief will bo tounu In some enlightened system of genu rul railroad legislation regulating the pates of transporta tion, prohibltin,'the Issue of tl Utlous stocks, und ptin lshlug with heavy pen iltiesthe misappropriation of tho funds ot companies by the managers thereof, whether to iheir persi at uses or to corruptly influence legislation affecting their interests. There should also be enacted ?01110 uid'orm system for tho Keeping of railroad nc connts and tne manner of declaring tlividonds, so while on tlie one band th. stockholders may sh.ii-e in tho actual profits, on '.he oilier tlie obligations of companies shall not be increased from year to year by lonna to make | good fictitious statements of net earnings. On one subject. at least, votir committee believe that legis lation should lie had without delay. There i.i now under existing statnte absolutely no secttrl'v to stockholders In regard to the leasing of ono road by another. A majority of a bosrd of directors may, without conscnt ot their stockholders, lease tor such a period of voars uud upon such terms as would lie equivalent to a consolidation 01 interests. Vour committee be lieve that some proper restriction is nect ssary, not. only to protect the puiilio, but tho railroad interest itsolf, ana that the law should apply not tn one company alone but should be general in its scope. They hav, therefore, prepared uml present in connection with tlieir report a , bill regulating leases of connecting roads aud prohibit. I itw the leasing of competing parallel lines. Inconclu I stun, your committee have endeavored to discharge the I duty deleguti d to them, so far as time and circumstances ! would allow, with a desire lo ileal Instly by all parties, and herewith submit tho evidenci taken, with their con clusions thereon, respectfully tor tho conside*ationof tho iluuse. IriAAt; It. BABCOOK, CYKIf.M) S. MNOOL.N, AMIIKKtiT W1UHT, Jr., Oil ARI1B8 ORARY, JACOB W. CAKI'RNTF.U, Special Committee. LITERAilY CHIT-CHAT. Mi-s. Kmkbhon, tho Eastern lurty who claims the authorship of ttio ballad "Betsy una I Are Out," universally regarded uh the production of the Wes tern poet Will Carloton, has in the press ol G. W. Carle to u & Co. a volume of verses, in whien this ballad iB included. A literary controversy la not likely to spring from Mrn. Emerson's claim, though it is possible that the publication muy rctult In a law suit. The Bohton Pubmc Library has rcacUed 205,000 volumes. TUE London National ReJOrmer Has been print ing a Bcritts ol articles on tno question, "Has Chris tianity Been Favorable to Intellectual Progress?" It answers the question In the nogatlve. BiBiior COLBNSO'S new book will contain an elab orate and learned dissertation on "The Pre Christian Cross." The Most Inteiiektinq and valciatlc or the re productions of early English writers appearing by aid of the various printing clubs in England is the "Six Parallel Texts" or Chaucer's Canterbury Tales, published by the Chaucer Society. These aro Irom hitherto unprinted MSS. of the highest authen ticity, and are printed side by side. 1 he variations are most curious. Many questions of great inter est to scholars as to early orthography, pronun ciation, metre and Btyle, hitherto unsolved, And constant Illustration In these volumes. Wiikn Lord Eldon brought in his bill for re straining the liberty of the press a member moved as an additional clause that ull anonymous works should have the name of the author prlutad on tUo title page. What Is Libel? Perhaps some Journalists who have the icar of the llbei law constantly in mind mayflud a useful hint lii the following:?"Judge Berkely says It has been adjudged when a person said of a lawyer that he liad us much law as a tnon- | key, that the words were not actionable, because he had as much law, and more also; but ir he had said he hath no more law than a monkey, these words would have been actionable." Tub Jwlu-ial Tlmc.i, of Philadelphia, pays a pro j fesslonal compliment to "Mlddletnarch," contrast- i tug George Eliot's treatment of medical topics, In ! connection with Ludgate, with the blunders of I other novelists, such as Charles Reade. , Frenchmen are Stiu. Bcky with war litera ture. Out of twenty-live books In history and geography published in Paris iu April of the pres ent year no less than twelve are new histories of the Franco-German war or of some of its cam paigns. ? Tub "Mechanics' Maoazine," which has been published in London just fifty years, changed its title to "Iron; tho Journal of Science, Arts and Manufactures," with iis new volume. "There's nothing liko lron/| SCIENCE AND PRAYEK. An Answer to Krofenwr Tynd?H'? *n?l Mr. Ualtou'i Theories About Prayer, by Professor Martin, at Association Hall, Ls?t N??l?t. A small and somnolent audience assembled last night in Association Hall, Twenty-third street, for the purpose of listening to the Kev. Professor Martin, of New York University, on "lhe Scientific Relations of Prayer." The Proles Hor read what was really an elabo rately and carefully prepared article on the suti led in question, written, in a concise and setiter. tinu- stylo, wltn an attempt at an ambitious <11,"lit towards occasions! phraseology only used by ph'.o sodIiic writers. The effect ol this was that the iverage nnnd of his hearers failed to follow him. and Otero was a lack of Intelligent attention manifested on the countenances oi tr. >?e wini dl I listen. Tho paper dealt at the outset with the famous Tyndall test of the elTUaey of prayer, and answered the philosopuK objection by the statement that the experiments that would be applied to physical facts were not in thoiusclves sufficiently exhaustive to be rig itly considered unanswerable tests by tlie expc - mentors, and, thereioro, Mr. Tyndall s theories lulled in that direction. Iu illustration ol this it was stated that thirty years ago it was said in the Edinburgh PhiloenphiocU Joanic that a current of electricity could not be carried on a slntle wire for any great distance. When the class ol prooi that was applied to physic il things, nu m science, was applied to morals, there existed no means by wlticn any satisfactory result could be arrived ai. How, lor example, could It 'lie s.own i>v uiiv number of moral instances. tin, ludis nutablencss of the truth of tho proverb that 'Turn esty was tho best policy?? Prayer was the best and highest process of man s moral disci pline. No scientist proposed to decide this Impor tant anestlon by evidence that was wholly asido lroin the effect. Mr. Ualton's recent statistical nrffumont, which endeavors to show that tho pon tile who prav dont live any linger, don't gel well an* sooner when they are sick, dou't get any richer, don't make any better Investment than the people who don't pray, was met by the general answer that tho ground covered by these statistics was too geueral, and did not distinguish what those who prayed really sought In their prayers. It was also lurtner met by inquiries as to whether the men and women who were on Blackwell's Island and in onr penitentiaries were praying p?ople, mid whether, If they had been praying people, they wonld Cave been there. Tho harden anil primary oblectof wll? t""* pray was to b d ! it vVred fr^in sin and the power thereo , and t.iat, I'mfoxanr M Miu contended, WHS suostantlaliy ob Lined by theirf. lie eonsinded purging tno obll iation o pr.iyer upon all Christians in the i.glit ol a hie tout Is eteruiW. MONMOUTH PARK. lit Attraction ?The Mew Idea. During the past icw days the sun, ho longed for, has commenced the ascent of Its Hummer heights and already looks down on us with a brightness wlilcti gladdens aud delights. It seems to have leaped over Hp;?liiir wltli a bound and lauded on us at ouco a blessing ami surprise. The contents of that horn of uaiety and amusement, which it ever carries lu its band, 1h already being canvassed, and the coining sports of the water aud the turi are the theme of conversai Ion in the club, coiTee room aud 'change. Jerome r*rk, or whose coming meeting we have already spoken, will gracefully lead the way In that noblest of pastimos, the turf. Hut per haps, the greatest interest yet gathered round any meeting in this country belougs to tho Mon mouth Park races, which commence on tho 4th of July, and will then uo in termitted until tho 8th of tho same month, and bo continued on the 9th, 10th, 12th, 15th, 18th, 17th, 18th and loth. This race ground possesses advantages belonging to no other, cither in this country or in Europe. Tho sail down the bay In splendid steamers, lurnlshed with every appliance of luxury, aud enabling visitors to catch the cooi morning breath of the Summer sea, Is In itself a delight, and forms a marked contrast to the dirt and dust and smoke that attend a getting to Ascot or Rpsom, and which take irom them half their charm. Thus carried with freshen lug and sumptuous ease to Monmouth Park race ground, you find yourself on a iruck, It not superior to any other, certainly sec ond to none in tho Republic. It is situated lu a park of lJ7Ju acres, which, though yet but In tlie youth of Its beauty, possesses natural advantages which will grow each year m ripeness, and one quality tho most essential to a race courso, and which is not shared by either Ep.-tom or Goodwood, ol being so situated that every one occupying a place on Its spacious and most convenient stand can follow the race with uninterrupted vision from its commencement to its close. Then it is the centre of the pleasantest of panoramas, a most gay surrounding of cottages, of every variety and form, from the stately Louis Quator/.o mansion of the Hoey aud the elegant and classic-looking "hut" of Lester Wallack to tiio characteristically chaste and simple l box of John Mctieon, and the quiet cottage of Jem Wallack, wltli its look ol' home, sleeping so snugly, like a gypsy's tent In the valley behind It. Indeed, we know no fairer scene to look on than Monmouth Park on a beautiful Summer day's meet- | ing, with such surroundings lor miles, with its back- ; grounds of splendid sea, w itli here and there lying idle on its buQrn so muny graceful yachts, their pennants floating like a field of flowers, while | within may be seen on tho stand, giving to nature itselfa tenfold charm, whole lists of loveliness, ris ing Her on tier, like so nm|y embankments of beauty. 1'lto numerous, and, as a general rule, well conducted and well catered hotels, which would form a decent city of themselves, oiler at tractions nowhere else to be found. Amid such a sceuo ono may well lorget the gloom and sadness of the last most dreary Wmtor, and sing blithely with Tom Moore? oh! would not a mooting like this mute amenta? It is gratifying to fool that not only has not one jot of these great advantages been lost, but they have in every possible way been cultivated and improved by tho admirable management ol the Superintendent of Monmouth Park meetings. We simply do an act ofJustice to the management, and "we know tills praise will find a cheery echo among ail truo lovers of sport in saying that Mr. Chamber lln created this place of meeting, watched over its cradle, nurtured it with moHt, generous hand, aud now that It has attained its present vigorous ma turity no sportsman will grudge his wearing the palm ho has so well won. He owns already tlio credit of having introduced Into tho coming meet ings tho new ar.d popular feature of opening the cup and stakes to all challengers without requiring euirauco money, which, by making lulk r and more brilliant llolds, has vastly enhanced the attraction to the public. Mr. Chamborlin is now about to inaugurate an other feature, equally popular and eminently judi cious, ono which will mako him as popular with tu<> great "Monsieur lo Public" as he Is uow with tho gallant order of spertsmen. He intends throwing the course gratuitously open to the entire publlc,thus ] not only ottering a bnthe and cheerful amusement, I free to those unable to pay for Its enjoyment, but by tho life aud plotaresqueness It will give to the 1 scene, will Insensibly contribute greatly to the attraction, It Is almor.t needless to say that such Induce ments have not fallen on barren gronnd, but every stable in the country will send Its star steeds to contend lor the prizes. What with such a meet ing, an I tue delightful aquatlo contests already heralded, Long Branch promises to wear the crown this Summer. The air is fall, besides, of rumors of private gaieties, among tho not least lmerestlng of which Is that, the beautiful Mrs. Sheridan Shook, wiih hor band ol histrionic handmaids, intends re lieving the tedium of morning hoars bv giving one of her charming amateur matinees, with tho sweet purpose of benefitting some of tho neighboring charltablo institutions. TliaB everything bldB bright. Oil wiih the danen; Let joy t><! iiucuntbied. LEXINGTON RAGES. Dill* Day nf the Miirlng Me?(iri? of the Kcotnfky A?iiocliiHon?K]ilrn>* :d Trot ting; of Tom Bowling In Hi* Sweep ?lul 'ii tor Thrfe-V?? ar-01d??l m? of tli? Klucm lati rN oil tlecorcl. Lkxikgton, K.y., May W, 1373. 'ilie races continue" to bo a giantl success. To day, the ilfth of the mooting ol the Ai-seciatiu i, the attendance was very larpe, betting qnlto lively, ami tho track in t?ood order. The first race was a tweepstuko for three-year-old#, mile boats, JiiJu each, $100 forfeit, $ioo added. There wore tweue entries, but only three or tlio*"' sui te-'!. MoGrath's Tom Bowling created quite a sensation. It was his first appearance on the t,nrf and the manner in wlib h he beat Cottrell's Sailio Watson and lloyd's chestnut liny by Asteroid shows that his aopporters have no; been uiisiakon in his mettle, howling carried about ten pounds overweight, as In- regular rld?r was injured a few days ig<< and had o be replaced by another. Notwithstanding tins additional weight he ran the best iw<> consecutive heats ou i ecord. rhe ioliowlh? is the summary MrOrath's Tom Bowling 1 1 Cottrell's Bailie Watson 1 2 lioyd't. Chestnut ltllv 3 dis. riin<\ 11?!4. The second race, the Citizens' S'.ake, forthree car-oldu, mile hi.-! a half dash, adued. . iipjht entered for the contest, nut ot.iy lour tock titr track. The (oll<rwin? is Hie summary:? ({rinmtead's craekford, by Ligatuing l M>'(irnth's Artist, b> Asturelrt 2 Keene's War Cry, by War Hance i Ketnoid's liuchu, b.v Planet t Time, tsMK. "I1U8H PATRIOT FRI28T&'' Lecture lty .lolm Huvagc. John Savage, poet, and la'e Head Centre of the i Fenians, (rave a lecture last evening at the Atne- | mcum in Brooklyn on the above subject. Fly the j manner in wiiich the gentleman diaii with the j mailer ono would think fiac the O'Connellite | priests hau no claim to patriotism, and n >ne of the ; clergy should bo called patriots but those who i hoisted the banner of rebellion and led the rebels j to the battlefield against the britlsh at some time or a1 her. The prtesirf who suffered in Mm for re vetting ngalnst the Tlrltisii power were, therefore, specially eulogized by Mr. Hayage. It was a pity all priests were not animated with the principled for which such heroes as Father Murphy, of Wex ford, and others who sacrificed all on earth must dear to them. The lecturer dwelt at great length i on the devotion of such priests, who, bv their ex* ample, encouraged the Irish to shake off the British yoke. He was loudly applauded at the close. FAREWELL TO GEORGE MACD0N\LI>. ;dr. Oeortre Macdonabl, tho Scottish novelist, preacher and lecturer, having mudo a very suc cessful vtsit in this country, is about to return to England, A letter nas been addressed to him. signed by several leadinir "antlors, publishers nnd htrnitteiir*. Including Wll fiain Culien Bryant, J. (I. II.,Hand, Hret Harte, H. 0. Htedman, H, II. StOUdard, J. <J. A. Ward, William H. Apt Icon, larper A Brothers, fie r^e B. rutnarn, Bcnbner, Armstrong A Co and H? nry W. Hollows, and, in resnou io ho hii?< em-, nt ? i to deliver a inrowelt leotiiro In Association Hall on next I'UuiHuay cvcui'ig ou UM'ttltyGct ol"ttamiet." ENGLISH IP AMER'Cm YA.CHTS. ? ? - [Prom the London Morning Advertiser.) With the revival of tho yachting season, and the known presence 01 the Sappho, the champion yacht ol America, In our waters, a lew remarks Irom our pen on tho vexed qmstion of the rival claims to superiority betweeu the English and American Htyle of naval architecture, as applied to yachts, may not he out of place. The number of article! that have appeared In tho various sporting papers, both English and American, the able essays In HunVa Yachtim Mauaziiw, and the multitude of letters written on this subject, have dono very little as yet towards solving the prob lem as to whether or not the Yankee yachts art able to show na the way round a course. Tho exclusion of ceB'.re-board vessels from our matches, with the exception of a few of the minor coast regattas, has of itself tended to leave the question of centre boards in abeyance. We regret that our clubs have thought Ht to lay restrictions upon the entrance of this class 01 v escls into thelt regattas. It has given tho Americans a handle, which they have not been flow to iuse, to ass.ert "that we are at raid of their yachts, and t hat we ooniess tho capability of the centra-bmriI boat to beat any other form of yacht, by re 1 using to iti them sail lor our cups." tor our own part we have always .bought that, exceptlnvery ?luootn water and light winds, our deep, sharp, ueaviiy ballasted vessels will alwaysbeatanyceatre-board vessel of equal size; aud in the onlyI race in whlcu an American centre board was allowed to sail, viz.. the Hoyal Yacht Hquaoron Regattt in 1M* ?w I Sylvie, a crack American sloop that had b? atenju t the then existing yacnts across the Atlanta, wa nusiiv disposed of by the cutter yacht Julia, ana on a ilay, too, peculiarly fitted for the light sklminlng dish qualities of the Yankees to show off to the best advantage, the wind being a light topsail breeze, and ihe water very smooth. \Ve sincerely that our high-spirited yachtsmen will do away with any absurd regulations winch tend to debar our American cousins irom having a try for our prlsjes. We believe that two or three Yankees Intend 'Bait ing their appearance in our waters during the s.a u.iii ,m,i we hope they will not go away without leaving us pretty well acquainted with what they can uo against our own clippers Wei were, vert mucn disappointed in, not seeing the lona-ta;ke l of match between the Guinevere insf vear. Captain Thellusson la too well known to need any defence from us against the tin* American press that ho was afraid to me -t their champion^, but Mill we think ue might have strained a point for the honor ol Old England, and tackled tne Sappho some way or another. The lnat challenge or Mr. Douglass was a very lair, iTtfalghuorward and manlfone and wejlo no KtS'that the'Uppho'uoeflirrepre. sen*tUe exact type of American build, any more than the LWon.a, fir. Katsey's grea ex^-rlraent, the Kuulish The Sappho la a keel boat ami draw lug 1*2 teet 0 Inches ol wat r, or as much as the Guinevere. So u can hardlybe said large lest of the two principles. There are throe la g schooners building at Gosport that prove quite equal to anything the Amorlcans navo Lot, when thev make their appearance. One, the Morna belonging to Mr. llouldsworth?tlie ?*uj of the'celebrated old Mosquito. aud aiso of'the ii?rrlon?built the year belore last, by Steele, oi Greenock?will soon be ready; the other two are hardly suillclently advanced to make their appear ance ti 11 the Utter end of the se^on eveu t u ey do then We are glad to see that there is ?o?i? siwffittOTHatu 5KB Vo? Juil'Catter bo^es^'lean'heads'an.l shallow midship ^"orhermaphre.KwUhaU1bad qiwUtioj. ol rp70"\u?Ve"r?not hut still mrther to curtail the power and tinovaiicv of our veasuls, bollowod their floors away until they were nothing eise but keel and <ii>ail wood The America, aitnough only half the ?r her beam had very lull Umbers amid sinus - in lact, slightly rouuded out, if aaythln^ The Sappho again, has not nearly so much hollow tahM floor aS the Livonia, aud is much broader, eoMeoueutly her power and buoyaucy are con between the Aline and the Livonia tor " KS*'ttrtST-cSSA ^ shier pole" while the \iine, although Inclined at qmte aa m eat an allele, ouly tiaci tt.c tot) 01 *lCir Swasn Wc iiiay remark, en pa.-wanr. that the Alluc Is a comparatively tun-Ooilieilvesse' Thtre nave been a great many arguiuentaadduccdto prove that in large yachts, of ^ ? the dentil must be considerably iiicditted. or the sail power would be insultlcient to drive tne vessel at a rucinir sneed. Ti ia la au utter lallaoy. Look at some of our last frigate-built snips drawing twenty? three or twenty-lour leet of water, and yet with a full caruo on board actually beating aouie oi the mure modern vessels that are built narrower, louirer aud shallower. A narrow vessel must have a certain amount of depth to give her su.tlclenI mS'ent1 principle m'all ver* ,}n l(?8t i-nveC"otl? r consideration? Tne Guinevere, acraft with very large displacement, is remarkably last in iteht wlndsT and when It is taken into consider*, t ion tnat she lias always sailed In cruising trim, with neither racing sails nor lead naliast, the iact us unanswerable. Easiness ol lines and adaptability ..Irion of the water are, to our thinking, of far more importance than the questiou of displace inent nrovldod It Is not carried to too great an excess. The American principle of We iBtfrinwM?!? resSce^to^t'h^pr 'rolling wby'tliu ccutre-boartl cratt ave an loiae ably wet la iinvrhiiiff ol a seaway. Their canvas is obliged to be reduced so mucii that there is not enough to keen tne vessel steady, consequently she rolls to windward or pot-woilops, aa tne sailors express It. The Knsilsh deep yachts, on the contrary, are none the worse tor boing laid down a little and n?eaeuUng a good weather side; the sprayflies Into the mainsail over the heads ol tlie people Touched under the weather bulwarks. However, this Is a subject that has been argued over and over ttgalHrSud what we want to see is the matter enro tons should be ensured a*'having nan. riir advantage over a scnoonor ol J00 is ratner a.itouishing. YACnriNQ M0TL8. I l.o schooner yacht Madeline, Commodoiv Voorhls, H. Y. C.. wilt leave Nyack, on the Hudson, to*duy lor New York. The scnooner yacht Caprice, built In i?7l by Mjhmh. nrown A Love II, at. Hast Boston, and be longing to tho estate 01 tho laic David .-ears, was Hold by auction, on Saturday last, for, to Mr. Fiank Norton, or Oreenpoint, Long Island, all her mitt!' he In? in complete order for active use. Her ori^iwal cost, It is reported, was about $30,000. Tim st uui y..elli M; ?tio, lately built lor Mr. E. 8. ChRiitn and belonging to the New Yo.'k and Brooklyn Yaelit Cluo fleets, is oi tlio lollowlng dimensions:- Length ovc all. 81 feet 8 inches: length on water line, 7J leet: breadth of beam, It) lo t; depth o( lioid, 4 tcet < luetics; draught ol water, ft feet ?! .neiies; tonnage. SI tons. iiocretary Lee, ol the Brooklyn Yacht Club, re port-* mat iheio are hi a ty-eight yachts enrolled in the squadron. fhe new nIoop vacht, built by Mr. Mnnn, of Mrookwn, for the \\ a*liM,:fto i Yacht Club, hag been named the Kila Treadw u. The lega'ta of the Delaware River Yacht Club wi.l take place on Monday next at Philadelphia. Tic oi'Ui-e will be iroiu Shackamaxon street wharf to tne Block lleuso and return, over lorty yachts have entered lor the regatta. ? The sio p.vacht Ariadne, Mi. I'lieo. A, Stran 'p. N. Y. Y. ('., has arrived from Nyack,on the Hudson, uiid Is anchored off the loot ot Court hi root, Uto^k bn. She ii is been lengthened and retltted. The Hioop yacht Helena, hunting by Klrbv, of Rye, lor Mr. Kliut, B. V. C., Is vl' the loll >wmg di mensions:? Length over all, 3S le t ? inches; length on water ane, 34 ne' 11 inches; breadth of beam, 13 f?*et it Inches; depth of hold, 4 leet i Inchon; tonuugo, carpenters measurement, tons. The Now Jersey Yacht Ctnb are launchlnsr their boats as fast as they can be redtted. The opeti:ng of llie club will take place the last of this month. BOAJiD OF HfiALCH. Tho bn8inepa of organizing the department was i continued yesterday at a meeting held by tho Commissioners of Uealth. A large num ber of minor rontine matters was also dis posed of. 1 he of woi k examining the clerks in the uep.irtnient, on tho plan of civil service iatciy Introduced, wld he commenced next week. Tlio Hoard adjourned to uie*'t on Tuesday next* iv ieii all reports will bo received mid public I"1*! ness transacted. No private sessions win be hel l, as the meeting will be open to all coiners, lui closet s.'?s on was a feature of the out Hoard, and was convened for the carrying out ol tl?e. iiitii' roirti of i oi i ill- loners MancrTe and Hoswot r i ,uM | lor the protect.oU oi any blends assailed Hi op'.!U I Board.

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