The Forest Republican. [volume] (Tionesta, Pa.) 1869-1952, 1876-08-23

GrahsacGtons were known only to those
concerned in them. The great appa-
rent prosperity of the establishment,
and the expressed desire to largely in.
crease the business and means of in.
come, was a plausible excuse in the
eyes of the general public for the issue
of the bonds. The workmen had un-
bounded confidence in the solvency of
the concern, and many Of them invest
ed what little money they had in the
purchase of houses in the vicinity, and
not few we're glad to let their surplus
earnings remain with the company,
and no doubt thought themselves we'll
off when little of The $4,000, 900 stock
fell into their hands. Mr.. Dudley's
retirement was considered misfortune
for he was highly esteemed in the com.
munity, but Mr. Haines, who sue
ceeded him, and who still lives here,
possessed many of the same qualities
and inspired the same confidence. He
had not been made conversant with the
reason of Mr.. Dudley's withdrawal,
but being an energetic, shrewd man of
business, soon found out that it would
require enormous profits to pay the in
terest ON 81 100000 of bonds, and af-
terward a dividend on two million
dollars of stock. He remained a year
or two and then quietly withdrew. His
successor only knew that he was ex-
pected to run the works at a profit, if
he could, but to keep up big show of
prosperity at all events, and being no
less honest than his predecessors, tried
to do the first. 1t was during his ad-
ministration, however, that the incep-
ton of the present panic quickly
BURST THE ALREADY SWOLLEN BUBBLE.
AS Mr.. Tilden and his coadjutors had
long known what the ultimate result
of their policy would be, and as up 60
the very day of suspension the works
were running at full capacity with
seemingly large profits, it may be con-
fidently believed that the originators
of the scheme were not deafened by the
crash when it came. They undoubt.
edly retained considerable interest in
the concern, but it was probably in
first mortgage bonds, the holders of
which would stand in the position of
creditors rather than debtors.
The cause of the bankruptcy was
not generally known at the time. but
il was apparent that there had been
treachery and there was loud out
cry from the victims. AS these were
principally of the poor, of course the
noise had no effect, and those who got
employment elsewhere were glad to
shake the dust of the town from their
feet, with curses loud and deep. There
was no attempt made to wait for bet
ter times; as soon as the opportunity
offered they deserted the place as they
would place of pestilence.
WHAT VOTERS SAY ABOUT IT.
The good people of the neighbor-
hood, many of whom were creditors,
and nearly all of whom suffered in
some way, for while hoped the sus-
pension was the result of the panic,
and that when the season of depression
was over the works would again be
starred up, but have got ever that, now
that the affairs of the concern have
been looked into. AS they have ceased
to expect anything from it, they will
not be disappointed. The discovery
of oil in the neighborhood has bright
ened up matters somewhat, and there
is good prospect of a return to pros
perity, but not through the Brady's
Bend Iron Company. Mr.. Tilden may
rest assured that the manipulators of
this bold, audacious and successful
scheme which, while filling their pock-
cts, has ruined so many, will not be
forgotten in Armstrong and Clarion
counties, or for that matter in any part
of Western Pennsylvania. Men who
are good judges of such matters assure
me that Mr.. Tilden's name will be al.
most universally scratched from the
Democratic ticket in this section of
the country.
The facts 1 have given above are so
we'll known here that they cannot be
successfully denied. / believe that Mr..
Tilden once said in excuse that he was
acting only as attorney in the matter.
The stock and bond books show that
if so, he received very large part of
the entire concern for his fees.
-~OS
A man went into a furniture room
at Mankato the other day and sat down
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