, 1876-08-06
Presentation OF Flags to the Third
Ward Republican Military
Company.
Notes from HeadquaFterS---De-
spondcnt Greenbackers---
Ward Meetings.
Press Comments: on the Tilde11
and Hendricks Letters.

dl4A I1E14A4.lCh5 AEkLGlIs
TILDEN'S SII1NPLASTERS.
AN uNlApEAcHABLE WITNESS.
The TRIBUNE Of July II contained long let
ter from q Marquette, Mich, correspondent ex
posing "Slippery Sam's" connection with sev
eral of the Lake Superior iron-nines, aud th'
manner in which he and the mining corpora
tions in which he was interested made forcct
loan OF thousands Of dollars upon the honest
hard-working sons Of toll, who delVed will
spade and pick in search Of iron-ores In thu
neighborhood Of Clarksburg, Greenwood, Ne
gaunee, Ishpeming, and other mining-towns il
the Upper Peninsula In that correspondence
1t was charged that Mr.. Tilden was the owne
Of two-thirds Of the stock Of the New Yorl
Mining Company OF Ishpenling; that from the
time the mine was opened the Company issuet
its own promises to pay to the miners and othel
laborcrs whom it employed. This ' 'currcncy" Al
first was in the shape Of drafts, which
were drawn at sight upon George W. Smith, O
New York, who. was Mr.. Tildcn's private sec
retary~ After the panic, these drafts wert
drawn at sixty, seventy, and ninety days sight
aud these pro1nises to pay were paid out by tnt
Thousand to the miners, who were obliged II
tckc them ut their face value
II WAS ALSO CHARGED
that 1lr. Tillen had large interest in the Iron
Cliffs Company at Ncgaunee, and this concern
issued its currency almost as fast as it could be
printed. The paper Vi this corporation was at
1irst made payable at sight, but after the panic
it Fas issued payable at four months after date.
1t WAS further stated that the Michigan 1rou
Co., of Carksburg and.Grecnwood, Mich, of
which Mr. Tuden was q large proprietor, was
this ti1ne-paper bore any interest.
This paper forced out Of circulation the few
bank notes which had found a lodging place in
Of the mining country to do business at loss
for the brncht Of tue great moral refor1ner OF
Albany. When the Michigan Company 'bust-
ed it owed nearly $5o 0ou to the miners, wood
choppers, turnacc-men. aud other laborers. An
effort was made to raise enough money by as
and put the company OIL u solid footing. All
the stockholders, save one, entered heart and
soul into the plan to pay the lahorer his hire
That one was Samuel j. :lilden. No appeal tor
the paltry sum Of Sl,300, which WAS his pro
rata uf the assessment.
Yesterdays Iin.es contained an editorial
paragraph stating that it had received letter
from i Marquette correspondent denying in
toto !" "some foolish maundcrings about our
Uncle Sanucls operations in tic Michigan
mining REGION" .
The 1Gnes is little too brash. It should not
have said that g. the contradiction IS quite u1i-
necessary" The charges made against Mr.. Til
den by the Marquette correspondent arc un-
doubtcdly true, aud there are witnesses right
here in this city who can bear testimony to their
correctness.
Yesterday afternoon ! TRIBUNE commissioner
Brothers, wholesale lumber dealers at the west
end OF Eighteenth street bridge, where he met
the booEkccpcr of the firm,
MIR. c. !. BoYcE,
who was formerly Cashicro fHayden's Negaunee
Bank. Said the reporter:
MIR. Boyce, would like to ascertain what
you know apout Mr.. Tilden's connection with
the Michigan iron mining companies, and their
system OF issuing currency promises to pay"
swell, to tell you the truth, don't know
connection with the mining interests. It was
generally understood throughout the Peninsula
that he was largely interested in the Michigan
Iron Company, vi Clarksburg and Greenwood,
the New York Mine, and the Iron Cltt+ Com
pany."
Ibid these iron companies issue
THEIR PROMISES TO PAY
to their laburers miners, teamstcrs, ..c!"
'sYcs, sir. Before the panic, the paper was
all made at sight. We handled great deal OF
it''
"Was there any issued after the panic?"
IA great deal. 1t was made payable at 80,
70, and 80 days, and some Of it even at four
months after late.''
How was it disposed off,"
"When it came to us in straight lots We
changed it into acceptanccs bearing 10 per CENT
interest, which We had discounted at the East
These discounts VIC drew against i'll sales Of
New York exchange over the counter at 3 per
cent premium"
" How about ordinary lots in small
amounts?"
AAlixed lots were hard to sell. saw one lot
of 81, QUO. which the owner haWked around, aud
gladly offered to sell at S40O.
'twHAT ORGANISATIONS
was this paper issued in!"
ssIn ones, twos, nves, and tens"
"Wos it subjected to onnch Of Il shave after the
pauic-I mean the small notes, which we're paid
out at par to the workmen at the mines ,nd
furnaccs!" .,
ayes. In many cases the holders OF it could
not exchange for groceries, provisions, etc., un-
less at 3 shave of rs cents on the dollar. At
the companies stores it was taken at par, but
the holders were compelled to pay whatever
prices the companies asked for the goods"
What amount Of stock did Mr.. Tilden hold
in these compa1ies!"
II do not know. AL know is it was gen
erally understood that he was large holder OF
stock"