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THE STORY OF ERIE 26 =
or that there was any thought or intention of abandoning
its policy or of changing its personnel, July
14, 1884, President Jewett placed in the hands of
the Board the following letter:
New York, July 14, 1884.
To the Board of Directors of the A'ew 1 'ork, Lake Erie was and at last decided upon as being the one who would
Western Railroad Company :
be the most likely to meet all the requirements of
Gentlemen:—Ten years ago this day I was elected President
of the Erie Railway Company, with the understanding
(which was immediately thereafter put in the form of a contract)
that I was to serve for a term of ten years.
Upon the dissolution of that company and the organization
of this company, that contract, perhaps, became inoperative,
but I feltit to be my duty to serve the company lor the full
time if such service was desired, regardless of any contract
obligations, and so advised the members of this Board. I,
however, never contemplated a longer official connection with
the company.
For ten years I have devoted my entire time, with all the
skill and ability I am possessed of, to the care and management
of these companies, to the absolute and entire neglect of my
private business and personal interests, looking forward to the
end of the ten years when I could return to them, and, to some
extent, reinstate them to the condition in which I left them.
For some time past I have, with great care and anxiety, been
reviewing the details of the improvements, extensions, and
management of the properties, interests, and business of the
companies since my connection with them, expecting to realizethat
I had made many mistakes, and fearing that I might find
some of a serious and, perhaps, dangerous character. That I
have made mistakes there can be no doubt, but I am gratified
to findand to be able to say that upon such a careful review of
the whole period I can findno transaction of importance that,
with the same lights only which were then before me, I would
not now repeat. With the same lights and the additional experience
I now have, in many instances I would perhaps have
advised a different line of action and of policy. If, therefore,
there was nothing else involved, and the business of the countrywas
in a happy and prosperous condition (which is all that is
necessary to a healthy and prosperous condition of this company),
after tendering to you my most sincere thanks for, and
unqualified appreciation of, your uniform kindness to and cooperation
with me in the discharge of my official duties. I
should tender to you my resignation as President of this company.
But in view of the disordered and disorganized state of
affairs and of business generally, as well as of the business and
interests of this company, I can do nothing more at present,
therefore, than to place before you the facts and to remain
subject to your will and pleasure, with the distinct understanding,
however, that I cannot consent to a reelection so as to
have devolved on me in the future, as in the past, all the duties
of supervising and directing the detailed management of the
various departments and interests of the company. With the
greatest consideration and respect, I remain.
Yours very truly.
H. J. Jewett.
and R. Suydam Grant to take the matter into consideration,
and to devise some satisfactory plan of
action.
During their consideration of the subject
man}- men of prominence in railway affairs were
mentioned as being men whose services would be
desirable as an assistant to Mr. Jewett.
John Ring
the case, but the committee did not purpose making
an}- selection at all, unless it could be accompanied
by assurances that would relieve the Company from
its pressing financialnecessities. The following letter
opened the way for action by the committee:
New York, August i