The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-08-25
THE ATTACK ON MIR. TILDEN.
Tho Truth Of the Alton and Terrc Hautc Mat
ter Clear stated.
n A.ffa.,


Prom the Nation.
These charges against Mr.. Tilden deserve
some attention, because they affect the charao
ter OF man who, 1t Is not at all unlikely, will be
for four years President OF the country. TheS
are supposed to 90 to the root of his character
and TO show him to be not merely unfit for pub
lie life, but for "A decent position OF any KIND
They are said. In fact TO show his whole career
to be one OF obicane, fraud, and robbery, and to
exhibit him as only differing from a man like
FISK, Jr., or jaw Gould Ia not having openly
thrown on all restraint. We have carefully ex-
amined the principal one OF these charges. In
form, which relates to the st. LOUIS, Alton and
these facts:
western railroad, called the 1 ere Haute, Alton
and 81. Louis Railroad, which got into difficul-
ties, and could not pay the interest on its bonds
The bondhoiders determined to foreclose the
mortgages under which the bonds were issued
and reornanize the road. They accordingly ap-
pointed Mr.. ridden and several other gentlemen,
who were selected on acco INT Of their knowI-
edge Of law or their skill IN railroad alters, to
40 tue business for them. lhese gentlemen,
forming what was called the "Purchasine Con,,
mittee " Of the road, bought the road In at a
foreclosure sale, and sold 1t again to new reor-
eanized company, receiving In return new eecur-
titles, which they were to distribute among their
principals on the basis Of agreements made with
them. They Issued these new securities to the
old creditors as long as any creditors appeared
to claim them. There were at the end Of these
proceedings number Of securities still unds-
tributed, which the Purchasing Committee di-
vided among themselves, either for their ser
vices or for other satisfactory to the par
ties concerned. 1t does not appear that there
was any concealment OF these facts, or any com
Ilaint made by anybody to whom MIR. 1llden or
his co-purchasers stood In the relation Of trus-
tees.
Indeed, so far from this being the case, the
Purchasing Com mittee, while having under their
agreements tho right to exclude any persons
from the benefits OF the reorganization after
June, 1851. took no advantage Of THIS right, but
admitted claimants down to 1883, and hive
never excluded anybody. Besides this, they
say that, IN purchasing the road In their own
name, they assumed heavy liabilities, some Of
which are sun outs'sndIng that tney per.
no remuneration except from the surplus In
their hands; that the whole remuneration aris-
Ing from this surplus would not pay each menu
Der OF this committee, at the outside, tbree-
quarters OF one per cent. OF the nominal amount
Of the securities which passed through tue
hands OF the COmmittee-a small remuneration;
that the net result OF the whole operation was
to greatly benefit the road, advancing the se-
curities from tw Ice to eight times as much as
they we're worth before.
The present managers OF the road, who are
not the persons VINO employed MIR. 1iden, aud
have, 30 far as II appears, no relation with him
OF any kind, now make calm upon hun and
the members of the committee for an account,
to which he and the other members reply that II
IL none OF their business. One OF the members
o the committee has very frankly told the pl IN
THIS that he does not pretend to understand the
legal rights OF the matter, that he has number
OF the bonus, and IL perfectly willing 10 sur
render them II ordered 70 do so By any compe-
tent authority. The only question apparently
involved In tue case is Que purely legal whether
there Is any relation.of principal and agent or
trustee ana beneficiary existing between the
Purchasing Committee ana the road. as II at
present exists. viii authorizes an accounting
between them aud the litigation Is OF a Kind to
when any lawyer might unavoidaoly become a
party. The road says there Is; MIR. alden
and the other members OF toe commit
tee say there is not, ana naturally de-
cline to give up their books. 1t Ia
obvious that In doing this they simply act so as
TO guard their own rights, for 1t must be remem-
bered that they admit the existence Of persons
to whom they did stand In the relation OF
agents and II they have any property In their
possession for which they owe any account, IL
may be TO these principals that they owe 1t, and
" they do not want to pay II twice over to two
different sets OF people, thev must resist with
every means in their power the claim now made
upon them. Inere are no fndictd OF fraud auo IT
tue case, and, so far as appears, its use by Re
publican organs. In its present unsettled state,
To prove Mr.. lilden a railroad "robber' or
"shaik," Is d scandalOus abuse OF the power OF
the press.
We have gone into this charge" at consider
able length, because II illustrates the straits to
winch the Republicans have reduced them
selves for campaign powder. In the present
camp ign all tue benefit tnat can be extracted
from charges will be reaped by the Demo
Gratis. who can prove by undenlaole evidence d
corruption IN the dominant party Of the most
gigantic extent. wild spread throughout all the
departments Of Government, and practically Gu
Outraged oy Its mead.