, ▁legal izing ▁the ▁newly ▁issued ▁shares . ▁▁▁▁▁ ▁Gustav us ▁My ers , ▁an ▁American ▁historian ▁and ▁m uck ra ker , ▁wrote ▁in ▁his ▁survey ▁of ▁rail road ▁fort unes ▁in ▁the ▁U . S ., ▁▁ ▁But ▁in ▁ 1 8 7 0 , ▁F isk ▁and ▁G ould ▁bet rayed ▁D rew , ▁again ▁manip ulating ▁the ▁Er ie ▁Rail road ▁stock ▁price ▁and ▁causing ▁him ▁to ▁lose ▁$ 1 . 5 ▁million . ▁The ▁Pan ic ▁of ▁ 1 8 7 3 ▁cost ▁him ▁still ▁more , ▁and ▁by ▁ 1 8 7 6 , ▁D rew ▁file d ▁for ▁bank rupt cy , ▁with ▁deb ts ▁exceed ing ▁a ▁million ▁dollars ▁and ▁no ▁vi able ▁assets . ▁He ▁died ▁in ▁ 1 8 7 9 , ▁dependent ▁on ▁his ▁son ▁for ▁support . ▁ ▁G ould ▁eventually ▁gained ▁the ▁advantage ▁in ▁the ▁conflict , ▁but ▁he ▁had ▁to ▁rel in qu ish ▁control ▁in ▁ 1 8 7 2 - 7 3 , ▁following ▁his ▁loss ▁of ▁$ 1 ▁million ▁worth ▁of ▁Er ie ▁Rail road ▁stock ▁to ▁the ▁British ▁confidence ▁man ▁Lord ▁Gordon - G ordon . ▁Public ▁opinion ▁was ▁also ▁host ile ▁to ▁G ould ▁because ▁of ▁his ▁invol vement ▁in ▁the ▁ 1 8 6 9 ▁Black ▁Friday ▁stock ▁market ▁crash . ▁In ▁ 1 8 7 8 , ▁after ▁all ▁financial ▁sw ind les ▁and ▁due ▁to ▁continu ing ▁mis management ▁the ▁Er ie ▁Railway ▁Company ▁declared ▁bank rupt cy ▁and ▁was ▁reconst