The Erie Railroad War Over.
August 15, 1870
Mr Vanderbilt of the Hudson and Central railroad lines, Mr. Gould of the Erie line, and a representative of the Pennsylvania line agree to equally share the business in the area and to formally merge the Erie and Central lines.
Commodore Vanderbilt, representing the Hudson River and Central railroads; Jay Gould, on behalf of Erie ; and the representatives of the Pennsylvania Central railway, met in Saratoga on Wednesday, and, it is understood, made an amicable settlement of their recent quarrels, and effected a satisfactory arrangement for the future in regard to their competing business. It is asserted by the Erie managers that the new arrangement will give a fair share of business to each line, and neither will have any advantage over the other. The interests of the three roads, they say, will be blended to the same effect as if one directorship controlled them all. The following dispatch to the New York Herald gives some additional particulars : "Long Branch , August 11.- Jay Gould, immediately on arrival here to-night, having consulted with Fisk on the way, telegraphed several hundred words to William II. Vanderbilt. This, he tells me, was the clinching nail to the new arrangement between Central and Erie. It is a revolutionary railway movement, affecting every railroad interest in the country, inasmuch as the new agreement is a consolidation of all interests in any way affecting the two roads. The $5,000,000 suit is amicably adjusted. Alter sending his lengthy dispatch to Vanderbilt, Gould telegraphed the following significant dispatch to Scott, vice-president of the Pennsylvania Central ; " I have arranged a consolidation with the New York Central, which, of course, requires the acquiescence of all competing lines. When can you come to New York ? " Jay Gould.' " In explanation of this Mr. Gould says that formerly there was a consolidation of a few distinct interests, as live stock, & c., while the new consolidation affects every dollar of interest in the two roads. Jay Gould having been invited to Saratoga by parties interested In the Central, compels us to believe that the Central, and not the Erie, management made concessions.
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“The Erie Railroad War Over.,” Reconstructing Virginia, accessed May 18, 2022, https://reconstructingvirginia.richmond.edu/items/show/1807.