The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1876-05-30
Mr.. Blaine and the Boston Ring of the
Northern Pacific.

o hand in the Northern Pacific railroad
speculstions. They as yet show nothing
beyond his intimate relations with and
agency tor some of the enterprising gentle
men of Boston and elsewhere who were,
some years ago, so industriously distribut-
ing railroad stock for little or nothing TO a
favored few, and selling bonds to the pub
lie for the money to build roada that they
were to construct az contractors and run as
stockholders. The papers conaist Of a pri-
vate letter OF Mr.. Blaine to MIR. Warren
Fisher, IT,, of Boston, and his receipt for
$4,000 of money, to which Dir. Blaine
promptly adds personal explanation. First
the letter
Private.
AUausTA, Maine, November %, 1870.
My Dear Mr.. Fisher; A year ago, and
more, | spoke to you about purchasing an
interest in the Northern Pscilio railroad for
yourself and any you might choose to as
scciate with yourself. The matter passed
by without my being able 10 control it, and
nothing more Was said about it. since
then, the Jay Cooke contract has been per-
bcen obtained, aid 230 miles OF the road
are wel-nish completed, and the whole
line will be pushed forward rapidly. BY
strange revolution of circumstances, | am
again able to control an interest, and if you
desire it you can have it. The whole road
is divided into "a ehales, of which jay
Cooke 81 Co. have IL. The interest ! speak
of lie of 1874, or l-l92 of the entire fran
chise, being that proportion Of the eighty
one millions of stock that aro being divided
as the road is built, and like proportion of
the land company stock, that is formed 90
take and dispose Of the 81 ,000, 900 scres of
land covered by their grant as amended by
the law of last session. The amount of
stock which this / 1872 would have in the
end would be about S425, 900, and the
number of acres OF land il represents is
nearly 275 600
The road is being built on the 7.30 bonds,
S25 600 to the mile, which Jay Cooke takes
| at 30.
Instead Of mortgaging the land they
make a stock company tor It's ownership,
dividing it pro rata among the holders of
| the franchise.
The whole thing can be had for S25 600,
| which is less than one-third of what some
| other Gales of small interests have gone at
| do not suppose you would care TO invest
| the whole 1925 900 thought for Il small
| flyer eight or ten Of you in Boston might
take it, 50 500 each for SO 800 thus H.
vested you would get ultimately 5i2, 900
stock aud the avails OF some 27,000 acres
of land.
Five of you at 5000 each would have a
splendid thing OF it.
The chance is very rare one. can't
touch il; but | obey my tiTst end best i'm
pulse in offering it TO you.
All ouch chances as this since Jay Cooke
got the road have been accompanied with
the obligation g qtt8,itf e naln large amount Of
will be in Boston, Tuesday noon, and
will call upon you. OF course, il you
don't want it, let it pass. You will receive
an immediate issue of stock to a consider
able amount, and certificates OF land stock
also. OF course,in comforting. with others,
keep my name quiet, mentioning it 10 no
one unless to Mr. Caldwell. write under
| the presumption that you have returned,
but have heard nothing Yours truly,
J. G. BLAME.
This stock will be far more valuable, at
the worst, than the Union Pacific, and see
| where that would leave it.
Second, the receipt
CONFIDENTIAL.
$4,000. BosroN, Dec. l, 1870.
Received of Warren Fisher, jr., S25, 600
| in trust in consideration Of which am to
deliver to said Fisher properly authenti-
Gated certificates of an interest in the n nth
| Pacific railway company equivalent to one
| eight % part one Of the twentv-fO four (24)
| principal shares in which the franchise
stock of said company are divided.
Certificates TO be in the name Of Elisha
Atkins
Witnes, my hand, J. G. BLAINE.
1t seems that Mr.. Dlaiue was not able to
deliver "the interest he thus sold-and
that, about a year after November s,
1870, Mr.. Fisher wrote Mr.. Aqulla Adams
nstrrcting him how to proceed to get
back the $1,000 which he (Mr. Adams)
had paid for fifth share in this "intei est.
Acting on these instructions, and armed
with the documents quoted above, Mr.
Adams collected of Mr.. Blaine his 3d.
900.
On Saturday, Mr.. Blaine furnished the
following for publication
Some six or seven years ago, some
friends of mno in Boston desired to make
q small investment in the Northern Pacific
enterprise, and, as the vice president of the
road, Hon. r. D. Rice, was a near neigh
Dor of mine in Augusta,i it was thought that
might find out where and how the pur-
chase could be made. In one or two in-
7 a. .-I &c -, -. T..
but nothing was done. Finally, in the
autumn Of 1870, a definite interest was for
sale, and it was brought 10 my attention,
with very glowing and eXtravagant ac-
counts of its prospective profits. As it
was u road chartered by congress, deriving
its franchise and grants directly from con-
gress, and liable at any time to'apply to
congress for future favors, did not myself
| entertain for moment the idea of becom-
ing interested in it, but, as these friends
had been wishing such an investment, and
IA they had the same right that any
other private citizen had TO own in
the enterprise, l communicated the
fscts to them precisely rs they had
been given TO me. A few days after,
| was notified that they would be glad to
purchase, and a certificate OF deposit, or
cashiers check for $4,000 was placed in
my hands sin trust, as the receipt shows,
to hand over to the person proposing to
sell, who, in due time, will doubtless speak
for himself. The certificate was to be TAX
en- in the name of Elisha Atkins, one of the
most prominent and honorable merchants
in Boston. 1t was soon found, however.
that the Northern Pacific interest was in
some way pledged, or hypothecated, or en-
barrassed, as to title, and the matter ran
along for over year, and finally came to
nothing. The money in full, with Interest,
was returned to Mr.. Warren Fisher, with
whom the negotiation was held, and the
holder of the Northern Pacific interest re-
tanned it. or possibly found another pur-
chaser, of which know nothing.
This is simply the whole Of the transac-