Railroad.The Erie Railroad encountered financial troubles in the 1850s, despite receiving loans from financiers Cornelius Vanderbilt and Daniel Drew. The Erie entered receivership in 1859 and was reorganized as the Erie Railway. Jay Gould, Drew and James Fisk engaged in stock manipulations known as the Erie War, with the result that in the summer of 1868 Drew, Fisk, and Vanderbilt lost control of the Erie, while Gould became its president.