Marshall County Republican. (Plymouth, Ind.) 1856-1878, 1876-12-14

western Railway RIae-How Western Farmers
Suffered through Tildea's nanipulatioes--6ev.
Tiidss asd Ton Scott Workssx Tossther-A
Gsavy Load for the Democratic Party 70 Carry.
The Rockville Valley Union Railroad was intended
from Chicago into Wi-cousin. charter was
obtained boads issued and exchanged In England Tor
railroad irou the shipped TO Chicago and some
of il sold pay the expenses Of the charter and pro-
vide means for grading the track The road was final
" 0reclosed and OF the foreclosure grew another
company entitled the Chicago, Fond du Lac and 81
Pau Railroad. This company had for its President .
prominent gentleman, ana us cars were running over
about sixty miles OF track when second collapse took
place.
ENTER SAMUEL J. TrLDEN.
This about 1857, and in those days railroad com
panies Obtained large amounts Of money from the
Eastern banks the officers directors indorsing the
eompany's paper. The President of the Chicago,
for the company and a large owner OF real estate
In Chicago. IL the dilemma in which he found him
self ne engaged Mr.. Samuel J. Tilcen counsel. The
BY taxing the railroad compauy's bonds Is collateral.
The question Of usury was raised and compromise
suggested OF exchanging real estate In Chicsgo, At
hin valuation bonds and stock of the road at
Unsecured creditors of the conpany offered COM
stock for So cent Of the claims white the said
soek vas worth 10 the market seou. 10 per cent O. us
amber the title of the
CHICAGO a NORTHWESTERN halfway.
With WILTON p. Ogden President, and Samuel J.
Liiien rs Trustee for the oondheiders Inc usual
watering process took place. and the company was
sadded with bonds and stock OF about $4,000 per
mile The company had q hard time With its load Of
Co saw that someshinE = Sns. sad in esssins
about. set their eyes upon the
eALESA . CHICAGO UNION RArLRoAD,
which vas then running from Chicago the Missis-
sippi River. Il the FIRST railroad in the West,
having been chartered In 1886. That company had
never vatered It's stock. and seldom. II ever, had II
IL lisa had soms 500 a s% Of
norss ss debt Of sbou, $4,000 per mile,
Its net earnings for 1868 we're over 900, and il
had shout thai sum 10 cash In its treasury Is working
capital Its stock vas largely held by those living
vestmens for funds involving the estates oi
widows and orphans. Stock was bought and rrowed,
prox les secured and finally Tiden Co., manipulated
% tnsl they mad majority. and oorained possession
CT the property, when IL was consodated" with the
Chicago NORTH estern.
THE KKsosHA ArD ROCKFORD RAILROAD.
The consolidation paid we'll that cheap rail-
road properties which might be consolidated high
price into the new organization hunted up
Among such properties the Kenosha q Rockford Kali
leced, and was detailed in the petition of Julius
Wordsworth The United States Court for the Nor
srn District Of Illinois, bought for $3o00 and con-
sahoated for 81, 10000.
IMPORTANT CHARGES AGAINST GOV. rrLDxN.
The ease Of the consolidation of the GaIena Chi.
keuO.u3,
the Chlcsgo Northwestern, Is completely set forth
10 the folow Inc complaint Of the Hon. Julius Wad
worth, who was Trustee for the original Galens
boudhotders. aud also actei for the stockholders:
"Your orator further represents that prior TO said
time the said samuel j. Tilien, OF Ee~ York, and
Others TO Jour orator unkaowa, concerted together
operating through Mr.. crokers, of New York City,
procured the proxies of large number Of the
holders for the elsciion Of Directors Of said Gaena
The dsy Of the ssoeEhoider, meeting suddenlv pre-
Sentsd ny Wm b. Ogden, and those persons above
mentioned acting with him. and voted upon in vivs
voce manner BY proxy, and, without any notice te
your orator, and great number of the -bareho ders
representing nearly two millions Of dollars, declared
passed
Union RsIIxoad was the first railroad which wa,
constructed leading to and from Chicago, aud tn.
first any in psrtance whatever that vas con
ssructsd the State of Illinois; that said rzroat
corporation had been tor many yearsso nsanaged snd
controlled that IL had acquired great fol
Eur.pe, and les stock aud oouds were purchased aud
held reliable, safe aud permanent investmen
bv various parties throughout the Unied States
lts gross earnings per mile for the fiscal year 1858
ending December 81, 1863 were eight Thousand e,go
mlls and net eaSnings three Thousand and six nun
ored aud dollars and uinety-eixht >ut,
per mile; and under the judcious, careful and eco
nsmicsl management Shsch said railroad
up JuBe2, 1854, would soon have surpassed thai O
any other railroad In the Northwest
Your orator iarsnsr repfssenss, upon Information
1t of June, 1854, the stock OF the Chicago q North
western Railway Company vas almost worthless, and
pssse>eed no real and ictrinssc value whatever. 4.
'Your orator would further represent that, ct IN.
time Of taEisg possession of the Gaisua 4 Chicsx,
Union Railroad there was q large amount of money Il
the treasury, and some forty nifty bonds OF III,
B~lDt Madison railroad Company among its assets
which had not been u-ed Ia the constructions of tn,
road that these bonds we're immediately sold and thu
proeesds applied by the said Chicago North es,err
Railway. and AL the money of the Chicago Gziea,
Union Railroad Corporation was also appropriated 4
49, uoffn a
"iouf orator would further represent unto vour
Hooors mat IRE GaenA 4 Chiezgo Union Railroad
Company al~sys prior to the I'd day Of June 1854
pasd Of In earnings al. peuses for running anc
operating the sasd railroad Of every aud na re
and the interest upon its bouded indeotedness aut
each year provided Q SINKING fund OF many thousand
dolsrs hich would iiq uidze its bonded iudsbts
long prior its maturity and has for numbeu
81 yesrs last past paid dvdeod Of less than Del
cont 70 each aud every enc Of its stockhoders upor
the Of stock held by them and tina its stocs
drsd aud forsy hundred and forty seven dollar,
-xnd Samuel j. Tilasn, are the same person. vb,
are hsreinssfere referred 90 being specialy inim
icsi 10 the ssid Galssa 4 Chicago Union kaiIroad
Company, and the rghu aud interests Of your ora
cor, sn Of vnoui, your orator ebargss, yer.
cazo Union Railroad Con- pxny, we're secretly and
frauduienliy c''nspiring with the Chicago North.
vita sSs.i sanSssno sns y fraud a s DID, % snS
orator, and the stockholders of the
tion rauduien;iy lake Of all of the proper
~. rights privileges and franchises Of said Gaeaa a
Chicago Union RAiiroca Company. And IN.
said Tlden ss s,nr,ey director of said road nav,
recently eausrd ssid Il the Peninsula Rair uad
Company 70 0s e-csa tor stock OF the Chicago 4
Northwes'sn ksiisy an,p4ny, on the folIowin,
terms, 20 s.i.. ter e-ery OF one hundred dol
lars Of the stock % sid Peninsuia Railroad, IN,
Chieaao Ncus-os:s;r Railway Company OK
changes gives hty aol.ars of preferred stocx anc
nifty dollars of common sIock, which thev special
issue FIR said purpose watering and dluiins
the stock of The Cnsesgo a Eorthwe sterp Eaiiva
Company 10 an extent wholly without precedent
In fraud III all the rights ~ your orator all stock
holders similar TO himsssf. including II, Oot
shares OF stock which they had issued the pre-
tense OF paying fer the KeDosba q Rockford
Railroad. which cost them about $4,000 and varl
Gus other mat ers snd things Of like character.
and your is Informed aud believes tina
there has been over-sssue of stock various pre-
texts and pretensss oy sad Chicago d Northwestern
Railway Company. which have not yet been Reported