Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1876-05-28
BLAINE.
The New York Sun Unearths a S25,OOO
Transaction In Northern Pacific
Franchises In which he
is Concerned.
Blaine Explains How He and ga Neat
NelghbOr Of MiHe'' Desired TO
Make Small Investments
In North Pacific.

| NEW YORK, May 27.-The Sun pub
fishes letter dated Augusts, Maine, No
vembsr 20, 1870, from J ames G. Blaine
/ to Warren Fisher, j., OF Boston, offer
| ing for twenty-five thousand dollars to
procure for Fisher one one huodred and
ninety-secOnd part Of the entire fran
chise OF the Northern Pacific railroad,
| including The land c1npany's stock.
| After describing the immense prospect
| i've PROFITS OF the transaction, Blaine
| Gays he himself cannot avail himself OF
the opportunity, but o5eyiDg the first
aud best impulse offers 1t to Fisher. IN
his concluding paragraph, Blaine says
Keep my name quiet, mentioning ii to
no one unless to Mr. Csldwtl,.n Blaine's
receipt 10 Fisher for twenty-five thou
sand dollars and his sgrt ement to dsliv-
er IS described are also published
Blaine was unable to deliver, and after
waiting over year, AquiIla Adams,
one of the pool for which Fisher acted,
reclaimed five thousand dOIiaFs, his in.
terest, from Blaine. TIE c)rTespond-
enee, it seems, wss furnished the San
by Adams, letter from whom is also
published.
BLAINE'S REPLY
WASHINGTON, May 27 -Ex, Speaker
Blaine, in reply 10 inquiries concerning
an article in the New York Sun to day,
said; Some six or seven years ago,
some friends Of mine in Boston desired
to make d small investment in the
Northern Pacific enterprise, and, SIS the
vice president of the road, Hon. R. D.
Rice, was nesr neigh5or OF mine, it
was thought might find out where and
how the purchase could be made. In
one or two instances l heard Of interests
being for sale, but nothing was done;
finally, in the autumn Of 1870, definite
interest was for sale, and il was brought
to my attention with very glowing aud
extrRvagSnt accounts of its prospective
profits, as it wss road chartered by
congress, deriving its franchises and
grants directly from congress, and liable
at any time to apply to congress for fu-
ture fsvors; l did not myself entertain
for moment the idea of becoming in
terested in it, but as these friends had
been wishing for such an investment,
and as they had the same right that
any other private citizen had to
own enterprise, communicated the
facts to them precisely as they had been
given to me. a few days after / was
notified that they would be glad to pur.
chase, and q certificate of deposit or
cashiers check for twenty-five thousand
dollars was placed in my hands, in trust,
as the receipt shows, to hand over to the
person proposing to sell, vino in due time
will doubtless speak for himself, the Ger.
tiicste to be taken in the name of
Elisha Atkins, one of the most promi-
nent and honorable merchants in BOs-
ton. 1t was soon found out, however.
that Northern Pacific interest was in
some way pledged, or hypothecsted, or
embarrassed in some way as to the title,
and the matter ran along for over year,
and finally came to nothing, the money
in foil, with interest, was returned
to Warren Fisher, vi h WhOm the ne
gOtistion was had, and the holder
of North Pacific retained it or possi-
bly, found another purchaser, of which
know nothing. This is simply the
whole OF the transaction out of which
a sensation is attempted by the Sun.
My connection with it was purely Of
character; 1 had not the re-
motsgt Interest ia it In sny shape o.
form, and no intention or understanding
that l should become interested in 1t.
The transaction was of course regarded
by me SIS in every wsy proper, Other
wise | should most certainly never have
received and receipted for money to hold
in trust until the transaction should be
consummated between the parties. l /
am very glad that my letter, which the
Sun published, proves on its face that L
would not myself touch the invest |
menU. l could easily have purchased |
1t had [ been willing, but 1 did |
not deem such an investment
for me to make. From first |
to last, in alllegislation touching Pacific |
railroads, never had. the interest OF |
penny in one OF them, nor in any of
their branches, directly or indirectly. In |
q private letter, if anywhere, q man will |
speak ungusrdedly, and this letter, writ
ten with no expectation Of its ever being |
published, proves conclusively that |
when Pacific railroad interest was Of |
fered me, with brilliant promises Of great |
profits, l declared that 81 could not |
touch it," think the San, in publish
ing this private letter, has supplied q |
In the matter. All these attacks, re-
sumed Mr.. Blaine after slight pause,
are intended to impress the people with /
the belief that have large wealth, and
that it has been acquired since L entered |
[ own was almost wholly derived from
B fortunate investment in coal lands
IN my native MOnongahela val
ey, in western Pennsylvania, made
sOme years before fist ran for con-
5ress. L notice many papers whose ed
tors never saw me, and know nothing
# my affairs, glibly put my property
town at q round million. The utmost
ny property would bring to day would
not amount to fifth part of that sum,
and | can say with the strictest truth,
hat all things considered, I sm not to-
lay as well off, pecunisrily, as was the
lay / entered congress, in December,
1858, and had not remained in con-
yress, l would to-day, in my judgment,
nave had a large fortune, rs the bust.
less enterprises which were at my COM
nand, had l attended to them, would
lave resulted most favorably. But every
riend who knows me, KIN vs. that neither
7m Income, nor my expenditures,n nor my
habits Of life, imply or suggest the pos
essiOn Of fortune Of anything indeed
isyOnd moderate competency.