Knoxville journal. [volume] (Knoxville, Iowa) 1874-1986, 1876-08-24
SLIPPERY SAINT
His Beautiful Record.
The Chicago Times" Opin-
ion OF the Great
Reformer.
What tt Thought Before if
Began 10 Eat Crow.
And when II Told the Truth.

Louis uelegate the other day, "he-
cause he Is not only a rcformer, but a
railroad lawyer of high rank-the
best, am told, in this country. In
the present condition of tho trans
portation question. such a man Is the
man we want This kuock-knecd
reasoning is common among the
parrotish Democrats who arc content
10 mouth over again whatever they
hear stated with any degree Of pos
itiveness. Why railroad lawyer,
more than any other kind of law
yer, should be particularly preferred
| | ~ Presidential candidate, docs net
appear; nor does it appear that Mr..
Iilden's friends, in picking out that
peculiar qualification to urge in his
favor at ST. Louis, have been guilty
of more than necessary discretion.
No friends of his, acquainted with
his record, would ever dream Of
touching upon that point except 10
suppress ii. In that record Is writ.
ten story OF crooked transactions,
part OF which has found its way into
the courts, to which attention Il in
vited by such talk as that above
quoted. For instance, il is written
there that Mr.. Tilden was once app
pointed trustee for the reorganiza-
ton of the Terre Hautc and Alton
railroad company, with power to
settle with the creditors Of that cor
poration, bonded creditors rs well as
Others. That the reorganization
was effected and bonds to large
amount issued aud that Mr. Tilden
and his associate, Mr.. Louis III.
Meyer, of Now York, helped them
selves very literally to these securi-
ties and failed to pay largo number |
of the creditors; and that they never |
settled up their trust. 50 handsome
ly did this twain donate 10 them, |
selves Of the riches OF others. and so
tortuous was the Transaction, that !
unless tolerably straight report IL a
liar, Mr. TlldGn has disgorged very |
freely 10 "A few people who threat.
ened to expose 1t. That matter, in
plan and detail, bears very strong
resemblance 10 another little affair of |
Mr.. Tildon's with tho Chicago, Alton
and st. Louis company, which was
taken into circuit court here in April
last and quietly hidden away Tho
bill fled at that time 10y the Chicago
and Alton company is against Tildcn
and Meyer who have been Siamcsc
twins in various transactions these
many years. Ii shows that on the
Gth of August, 1862, TiIdcn and
Meyer bought tho road then known
as the Chicago and Mississippi rail.
November tho same year they con
veyed the property back 10 the Chi
cago and Alton company, the COM
pauy agreeing to pay them In stock
and bonds sum equal TO that which
they had expended Ia purchasing II,
and "A further sum In payment for
their time and trouble In the prem
iscs. by the terms Of this agree
mcnt, Tildon and Meyer had author
ity 10 sell certain portions Of the
bonds, which were deposited with |
them, and 10 deliver stock and bonds |
to the creditors Of tho company, In |
satisfaction Of claims upon the road. |
Certain persons, creditors Of the |
company, did not become parties 70 !
this agreement, but were by virtue |
OF the decree Of court under which
the road was sold, entitled 10 their |
dlstributiyo share OF the proceeds OF |
the sale. The Chicago 4 Alton
company was one Of these creditors, |
and held scrip Of the Chicago Il Mis- |
slssippi 10 the amount Of about s35,- !
900, which TildeD, In the teeth Of |
the law, has refused 10 pay. The |
company, in order to carry out its
agreement with Tildeu and Meyer, |
delivered 10 them large amount Of
stock, besides bonds 10 the par value
Of &2, ,510, 800 These bonds are de-
scribcd as 900, 900 in first mortgage
sinking fund bonds, s2, l00,0 900 iirst
mortgage bonds, and 100000 income
bonds. Tilden and Meyer proceeded
to pay or the creditors, and soon paid
ont the entire 100000 sinking fund
bonds, and large share Of the first
mortgage and tho income bonds.
After having cleared off all obiiga-
tlons which they were required to
pay, and receiving enough 10 pay
the residue Of the indebtedness, Til
and Meyer held, and still hold,
heavy sum which they decline 10 &C
count for. Seventy thousand dollars
of this balance they claim as compen-
sation for their services. In addi-
ton 10 this preposterous bill, Tildcn
ard Meyer charged sGi 900 for clerk
hire and Office rent tthey never had
either clerk or Office, and even then
owed the Chicago and Alton Compa-
nv the s32, 600 In bonds, and stocks
above alluded to. These bonds have
never been put upon the market,
nor have any Of the coupons been
paid except few which were sur
repti,ionsly presented. The agree
inent was that for the purpose OF re-
Iceming the first mortgage bonds
certain sums should be sent 10 TIL
den and Meyer every six months.
II was their duty 10 draw by lot the
bonds which wero to be redeemed,
and apply to tho cancellation oftbese-
Isscted bonds such moneys as came
into their hands for that purpose.
In 1915, tho Chicago and Alton com
pany remltted 10 them $4,000 10 be
80 applied upon bonds 70 be drawn
iy lot, but Tilden and Meyer, In
violation OF their trust, neglected to
draw the bonds, and appropriated
the money 10 tho own uses.
That ID tho story, told in brief,
that was filed in Judge Williams