the law permitted him to convert into stock, which he very quietly did, and then complacently awaited developments. "Go a head, Mr. Barnard; Go a head, Mr. Vanderbilt; your injunctions don't alarm me in the least said Mr. Drew."

True, 58,000 shares had been locked up, but 100,000 new shares had been issued. Of the new stock, Drew held 50,000, and Fisk 50,000. Vanderbilt was in blissful ignorance of the existence of this stock; he was prepared to purchase all the old stock, but he had not provided money to buy new stock as rapidly as his crafty old competitor chose to give it out; nevertheless, it was plainly this that he must do, if he would gain his object. On the last day of February, Erie was quoted at 68; Drew gave orders to his brokers to sell his 50,000 shares. Vanderbilt's brokers were buying all that was offered, and they accordingly snatched up this new batch, but the price almost instantly dropped to 65, and then rallied and rose to 73. A fierce battle was now raging between the "bulls" and "bears" of Wall street, which continued during several days. Drew, knowing that Fisk held 50,000 shares of new stock, sold "short," being sure that the price must fall; but Vanderbilt bravely drove up the price until the 10th of March, when it stood at 79. On that day, Drew became alarmed, and ordered his brokers to buy to cover his shorts. Under this new pressure, both Drew and Vanderbilt now buying, the price went up to 83. This was Fisk's opportunity. He immediately threw his

50,000 shares on the market, got the highest price, and then sent it down to 71. The appearance of this new stock, in the name of James Fisk, Jr., created a storm of excitement that shook the money centers of New York with fierce convulsions; $10,000,000 worth of stock had been poured into the market, and Vanderbilt alone sustained the entire weight of the shock. This was a fearful load, but to waiver, or to show the slightest symptoms of "shaking," would have invoked instantaneous and total ruin. When, therefore, the contest ended, Fisk alone was victorious without wounds. As between Vanderbilt and Drew, it was a drawn battle, in which both combatants were scarred with many cuts and bruises, though Drew was able to bear away the spoils.

Of course, the injunctions of Judge Barnard had been disregarded. The wrathful judge, therefore resolved on vengeance dire. On the morning of the 11th, an army of the sheriff's deputies, with numerous warrants, ran to and fro through the streets of New York, in search of the Erie Directors. These gentlemen having learned of the warlike spirit of "His Honor," had, at the suggestion of the versatile, ingenious Fisk, transferred themselves and the treasury box of Erie to Taylor's Hotel, in Jersey City, beyond the jurisdiction of the offended Judge. From Jersey City, Fisk dictated such legislation as was needful to relieve himself and his associates from embarrassment, to legalize their unlawful acts, and put it out of the power of

Vanderbilt to molest them.

This accomplished,

A settlement was

the parties agreed to treat. made, and the spoils of war fairly divided; some took stock, some took bonds, and others, money. Fisk and Gould received as their share the whole establishment of the Erie Railway-road, rolling stock, equipments, officers-everything. From the date of this settlement until the day of his death. Fisk was master of the great corporation, and held it in defiance of various and powerful efforts to wrest it from his grasp. He was ever thereafter justly titled "Prince Erie."

Fisk as a railway director-The Erie Railway under new managementNew combinations-Exeunt Drew and Eldridge-Enter Tweed and Sweeney-A batch of law suits-Fisk on the witness standTestimony extraordinary-Amusing account of "tricks that are vain"-Hands joined all around-"Log Rolling" at Albany-The classification bill-Erie captured and bagged-Frauds-New York Society-How young men are ruined.

THE general settlement between the contending parties for the possession of Erie, and the division of spoils, took place early in the spring of 1869, but the terms of the peace were not made known to the public, until the middle of the summer. Erie had been stripped of every thing, even to good name. It was poor and in disrepute, when it came into the possession of Fisk and Gould. Eldridge and Drew, the men who were the only experienced railroad managers in the board of directors, retired and left the whole conduct of the road in the hands of the young adventurers, who were now to be tested in a new field of enterprise. Fisk had already displayed great versatility of character, and had proven himself equal to any and every emergency. He did not feel the slightest embarrassment in his new position, but resolved to make new combinations and to restore his road to public confidence. The struggle with Drew and Vanderbilt had taught Fisk, that there was nothing

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