 Gould lost control of the Erie Railway in March 1872, but the railroad's new managers retained Gould's strategy of trying to reach Chicago.In a lease dated May 1, 1872, but not ratified by stockholders until June 25, the Erie Railway agreed to lease the A&GW for 99 years for an annual rent of $800,000 ($ in dollars) a year.The lease did not cover the C&MV, however, which remained tied only to the AG&W and not the Erie.