, 1875-01-30

4t
Monlton, AMI Hen batlar, arguing quiet Fcttle-
lne1it Of the case. and offering to pay to-
"ards 11'tous emigration DocroR sYsTAx.
Is. T. ALLEN.
The St1tF Of HIS Connection with the
Nltx*issippi 4: Flt.sos1E3 Road,
10 the Editar Of Tie ch'cnoo Trsbur-!
CnIcAGo, Jan. 29.-fn the controversy between
alr. Allen md Mr. Spencer with regard to tho TO-
spouatbility for thu recent suspension OF the
Cook County National IIank, / have no desire to
take part. Come statements contained in IN
editorial and alro in local article In tho coll
umns Of The Tn1nusE Of jan. 23, apparantlr
nado upon tho authority Of Mr.. Spencer, do in-
justice TO other parties tusu Mr. Allen 10 somo
of these statements dcBire to call yot,r atteu-
tion:
Fir<t-Thnt the Chicago 4 Rock Island 1.ail-
| road Cff my forocloRed the mortgage executed
By tlf'outSDi t. Missouri Railroad Company.
| OF 'Hh1 = bonds Which they had
purchases. - ia II. I'D interest .were
IN default sn.- :irf,, resistance Of
Company, the two roads ~e. '' holidate,i."
! The foreclosure tf the seyerai mortgages ex-
ecuted by the s1.ssissippt Il Missouri Company
! iu Iowa WAS conducted by committee apnnnte4l
| by the STOCKHOLDERS Of that Company, and when
| the foreclosure proceedings wero commenced
Auu tautl+ tlt AAlCdkO 4E3Ck 4dAul NtLupA0y
! held only vary small purtion Of the bonds se-
| cured by the mortgage. Instead of tho cousol-
ltiation Icing made ''dcslite tho resistance Of
| the stockholdors Of tho mississippi 4 Missouri
Company" the foreclosure was mhde by 4 coln-
rnittoe Ia the selection OF whcl tho Stockholders
| took part, pursuant to the contract maIe TO-
tween said committee, for the bond and stock
holders, with the lock Island Company, iu which
1t was stipulated that tho consolidation should be
effected II Il we're legally possible.
Seeond--Tllat mo lcrs than $500, ,001 was in
this way, il the year 1867. pacel in hB Ijtlan'aI
hnuds ly the Court TO hold for tho stookholderp
and bon1holders Of tho mississippi 4 Mls4ouri."
The oxacs amount received by Mr. Ailou. m
Receiver. in 1868, WIS 558J, 4bj,4h, OF tluH sum.
el3f 0Do were III first mortgage bonds Of tue
| Cbicngo, -lsoth 1alaud l. faeitc Railroad Cotu-
Lang. tleEo bonds forming q part OF tho cou-
s1dcsation which that Company hull agreed to
| pay for the properly Of the Mississippi l.. His-
soufi Company in Iowa, and hasing been set
apart, under tho xrreeole,tt at tho Conhittao OF
| the bortl ami stock loiletB with the Hook Ihlanl
Company, tor tho stocGnodess Of ti,e 1iasisBlppi
| 4 Missouri company. Upon tnase bouls Mr.
! Allen, NJ WaA ha tniy, collected tho interest,"
coupons selnl-annualy. aud, lY loason OF slcl,
collection, The fund Ere1 While in iH hantts to
| about es00.aj0, 30 that Mr.. Spencer. statement
il slr. Spencer Ii Your authority, w;s ouly abultt
| :1a0tl, ONO out OF tho VA.
Third" Hh gave no rntnritF."
Tnis ia uut ouly untrue. tut u grossly uIl-
| jnat reflection upon tho Court l,y "! rJln Nr.
Alien was appointed. Te vas rE,.u,.ed by
tho Court to give lnnd to lie 1y il Apiruyei
in a1sm amliy sufficient 10 cover sll ,nnneya
and property which might camo into his hande.
That bolid was approved by ths Court, aud mono
OF the parties IN interest ever took any exception
Whatever to its sutlieioncy.
| foHr&h--That =" he held this vast sum subject
] cent interest per annHa.'
| tie did hold The Kalne subject IN tho order Of
the Cauit. hut paid 10 ilterras wI,alaser.
FJh--in 1si3 .sstse can,c 10 Chicago allnred:
/ II IN hy 1fr II >ri,p Eli.
10 hava Shared with him in tlls hrolits Of lis
trust. since it was through hia influence that Mr.
i Allen received it,
Neither Mr. J. +. Tracy nus any other man
| cnul exercise any iutlut nee whatever Over th1
Court by wham Dir. Allen was appointed. Asltao
from this, at tho tina ut his aptnutlnens the
| only acquaintance between M1. Allan and A1r.
Tracy was casual. They sustained to eacIl other
| no business or oifciai relation. and Mr. Tracy
had no knowledge whatoser that his Appointnsns
| to tho Ilecslgekship MAS contemplated by any
body: While it Iusy be literally true that "it is
| snld !" that Mr.. Tr.iey shared with lin 10 tho
profits of thiH trukt. 1t las no foundation u fact
SflA-' Mr, Tracy urged him to seek 3 bread
CT held, and make his reputation and sueceBa na-
tiona1, with Chicago aa hs ccnsre.''
Mr.. Tracy neither persuaded nor tlisauadsd Mr.
| Allen in thiB regard
Hepcaus-" The litigation between tue atoek-
holders AMI bondholtle1s OF thu Miss!sHippi d:
Missouri lver Ilailroad was still. apparently, far
from settlement. There waa eyery prospect
! for years to come. Unfortunately for these cal-
| ealatonA, aud uuknowu to himself or tho court
| III Which the suitB were pending, negotiations
| for compromise we're III active progress. Uhens
were successful, aud, within tew waoka OF the
time when lie placed the Last OF lia f1nls in tho
Cook County, tile suit Nas Withdrawn by com-
mon couheut. At the request Of tho beneficiary.
tue Court At ohco called III Alr. Allen to render
up the e800, 900 and interest to the pnstiea fur
| whom ha had beon nursing it. Tho Total waa
then about II 0U1, o40. Illis WAS in July. lilo
nas given thirty days in which to comply vsth
the order"
| Tie truth Ia, TINT when bls. Alsan purchased
| an interest in the Cook County Eatona! Iah1,
negotiations for compromise le.weon tho rar
ties iuloreHtcd in the fluid ln hia Aauds u He
| celyer had been III rioXreBs for some months,
! With his full knowledge. nafore the settlement
waa concluded representatives OF all tue par
tisa il interest had interviews with Mr. Allrn, IL
which the atHte Of tue negotiations was fully dis
cloaei to him, and. instead OF tho suit bclng
! Withdrawn hv common oonaeut decree was als-
tered directing tue distribution Of the fund, Of
tho terms ot which docrco 1Ir. Allen lad knowl-
ledge weeas before it was entered. Iostead Of
being called upon "at ouee" to Eonler up tho
e80O,00D and interest within thilty days, ths
decree directed payments af tho fund in two lif-
feIent inetalinenta, md at dates which wsr1
entirefy satisfactory to hl'n' III vol AZ to the
parties.
Al remarked before. Anve no lehre 10 take
any part in tho controversy batWea, AIR. Spencer
enh Mr. Allen as to tho transactions batHbeh
them. unslre tHht tabao 0uEEeGt4bsla 10 uaao
in tlis statement rrfarre4 to, for tie rsason that
! they do injustice to ether parties. have not
studied tie effect Of thia reply upon tho rontro~
yersy between Mesars. Spencer and Allen, IL
that ia = matter OF no moment to ms. 1Ela fair
to aesslme that air. Spences,a knowledge Of 4ia
transactions with blr. A1lan II mote accurate
tlA,l TINT which he ASSUMES to have In regard to
the loug and complicated litigation in wlIoh 3tr.
Alien Waa ReceIver. Th!s AsAumpt,on hoHasoF,
renders proper the suggestion that Hereafter Aa
oontine hls statsments to those trnusactlons. in
steas OF inaulEing In reflections upon other par-
tios who have no desire to be implicated III this
controversy. kEconp.
RELIEF RECEIVED.
h E.tikax ~ f,he I'm r. Lthr1tLA.