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


RECORD OF GOV. TILDES's CANAL REFORM SUITS,
ETC, FROM THE PUBLICATION THE CANAL MKs-
SAGE, MARCH, 1879, TO DATE;
Number Of suits brought %
Number brought TO trial
Number of convictions Obtained !
Number of suits dismissed by Court......-...-.-. I
Number OF suits now pending. 1
Amount OF money None
Expense of commission and counsel to assist
Attornev-Genera about.-........---....-.$ l00,00O
Payment Of two certificates stopped by COM
Number of existing fraudulent contracts
"one'
cit can not be said that these suits commenced
rs one of these three was the old suit commenced by
him hopeless Iris Is the one which the Court dis
missed.
From the Cincinnati Enquirer (Dem-).
Ia the glare OF the calcium light OF impartial
investigation. the footprints of Samuel j. Til
den found in such serpentine paths as were
never trodden by the foot of reformer. We
have been led to this conclusion OF late by the
exposure of incidents in the career of the favor
tie son of York, which have come to tae light
VI day, and the story we are about to relate
more than confirms it. The facts in the case
have been carefully collected by a representa-
tive of the Enquirer sent to Indiana for that
especial purpose, and they will be found to
be backed up by documentary evidence OF Q
most corro5orative character.
THk STORY OF RAILWAY.
In ls49, the Legislature of Indiana, by speci al
act, chartered the Fort Wayne Il Southern Rail-
way Company, a road designed to run between
Fort Wayne and Jeffersonviiis. Indiana. IL
was also designed to extend the road into Louis
vile, by means of a tunnel under the Ohio
River, and a charter for that purpose was OBJ
tanned from the Legislature of Kentucky. A
special clause in its charter from the State of
Indiana permitted stock subscriptions to be paid
in real estate, and the farmers of Allen, Wells,
Blackford, Delaware, Henry, Rush. Decatur,
Jennings, Jefferson, Scott and Clark counties,
under this provision, took stock in the road to
the amount Of third OF q million of dollars.
The land thus subscribed was conveyed In trust
to Hon. John ID. Defrees. to be by him held for
the benefit and security of the original bond
holders. In 1853 work was commenced on the
road and the hearts OF the farmers beat high in
anticipation of the time when the iron horse
would go snorting by their doors The work OF
negotiating the bonds was slow one. and
the Trustees of the road found friend in the
person of John U. Parker, vino assisted them
with loans, and also Endorsed their paper. In
1855 Mr.. Parker was elected President of the
road much against his will and he at once set
about raising the means TO complete the road.
With this end in view, he visited the East, and
made an arrangement with n well-known New
York Custom-house broker, named Herman
Livingstone, who took Sc 100 900 of the compa-
ny's bonds 10 Europe to endeavor to raise the
means on them 10 purchase rails to iron the
VIM. Rscster Wagstaf who had been q banker
in England, and who was represented to him 70
be immensely wealthy and well versed in rail-
roads, he having been concerned with Sir Nor.
ton Peto in several of his speculations. Liv.
ingstone ana Wagstaff made contract
by which the latter agreed to come TO this
country, to bring q civil engineer with him
and assess the value of the work on the bed o.
the road already made, and then. if all was sat
isfaciory, to complete the road. Mr.. Bolt ths
President of the Liverpool London l. Gob,
Insurance Company of England, furnished
wagstaff with an order on the branch Office o
his company in New York, for $4,000, ans
coon after, Mr.. Wagstaf, accompanied by
private secretary and . civil engineer, arrived
in the Empire City.
HoSoRs TO wAosrAYY.
On his arrival in this country he was feteS
BY Mr.. Pell, the American manager of the Liv
erpool, London 4 Globe and all the "nobs'
ofNew York were invited to meet him. Prom
inent among those who attended was her Brit
tanic Maiesty's Consul at New York, and tn,
Hon. Samuel ]. Tilden. Mr. Parker, who has
gone East for that especial purpose, wa
also present aud met the distinguished
Britisher. The day after the fete Mr. Pell
so Mr.. Parker says, informed him (Parker) tina
Livingstone was not q man OF sufficient stand
large enterprise like the construction of
railroad, or to be associated with such a gentle
man as Mr.. Wagstaf. This information, coupled
with the fact that Livingstone had not Piver
entire satisfaction to Mr.. Parker, aud the glamo
of the fete to Wagstaff blinded Mr.. Parker. an,
be at once dismissed Livingstone aud made
fresh contract without any further inquiry int
his financial standing.
A LITTLE sPEcx or rRouBLn
Mr. wsgstafPs engineer found that the For
Wayne and Southern Road had graded its road
bed from Fort Wayne to Muncie, and from Nortl
Vernon to Jacksonville. aud he estimated tina
the value OF the work done at abou: 81, 250, 000
This was satisfactory, but upon making an in
ventory of the bonds of the company, handle,
down from the regular officers Of the road, i
was discovered that 100 Of them, each OF tn
value Of 81 900, were missing In this dilemm,
1t was resolved to forecose the mortgages OF
the road, and to facilitate matters the company
(which was in reality John @. Perker) failed
BY the use of little crooked swearing an orde
of Court was obtained in January, 1866 an,
tine road was sold after seven day5 notice an,
said notice only published In Louisville pape
NJ thai. The road was bid in by Wags,afFs at
torney, and IN accordance with the laws OF tn
State OF Indiana, a new company known Is tn
Indiana Southern Railroad Company, wa
formed, with VIM. Powell, IT,, as President, ant
August TEeeent Secretary, and board OF fiv
ureheads of Parker l. Wagstaf The ei
feet of the sale was to transfer al
improvements, rights, and franchises Of the old
road to the new, excepting the control of tn
real estate subscribed for the original stock
Wagstaf next purchased Parker's interest in tn
road for the sum of S750,000. and TO secure tn
payment of this money he assigned to him hi
interest IN some 81, 600, 600 of the roads bonds
HxrKR SAMUEL ,. rILDEx
On the 18th of January, 1866, the Indian
Southern Railroad executed mortgage O
all the property that it then had o
might acquire in the future, in favor
Samuel j. Tilden and William H. Swift
Of New York, in order that they might as
as Trustees 10 negotiate, sell, and account fc
$l0000000 worth Of bonds, which the compan
was to issue 10 raise funds to complete the roat
These parties had been recommended to Parke
WagstaG by the American branch of th
Liverpool London b Globe Insurance Con
pany.
rHE VALUE OF rILDKS's NAME AND xrLuESc
Before Messrs. TiIden aud Swift would acceI
this trust they required be paid a bonus {
$4,000 (SJ.cOU) for the use {