, 1876-10-06

Tho 1,rnly's Bend speculation ras not aesp'aed
ly Mr. Iilicr. On tic contrary, as Mr: og.
cn,s nEcnt and cn,!nss G G y'sssa tug ,fo !n,r
i,loueiy low sum of s:50, 600. Tho owners wcro
embarrassed nnd had to inako sacrifice,
Atfr ta % xss eyo aat only S
The formation Of n stock company roul.l profit
no rnudo cut q tho work. 4 stock company
was consequently. formed, and NJ. Samuel L. J.
Yaa S stSs ese's as ~ apee pees% %s % ss5o md onS S
iIulf OF that sum was understood to ba working
capital. Mr. Dudley, Of whom have asrcatly,
spoken, continued to act rs Superintendent, 1ntl
works increased TO such ,an .eStcnt that,
during tho first ycnr, Of It's existence,
the naw ,con,rany realized pront ot
over I!s spro 81 th!s nn s wss e. ~; 1s
not intend to continue, IN, tllc company to tlo-
mud mako fortune for 1i,hsclf an.l hls frcnas
letern.!uel. prutest q Nj. l,ud!ey, md every
other truo friend of tho works Wilt, knew what
was golng OIL. Tho nuw bonla wcro ostonslbly
really distributed privately an'onF certain ;St n, Of
Ntr. Tlldens friends III the company. Tho inter-
est OH these bonttg was nantu first Charge
uEalnst the profits. md, 10 tho prosperity Z! iho
WusNa cuEtN4NuNt AhAtu " ~ ulte ~ ~ T. .I w..
lawyor,ihowoser, tlMt srasfl must ehortlysomo,
proitt Which hs lad airdaiy rsnli:ed, ts decided
friends held enough Of the stock to
control tho company. and Mas &c.
| eIdcd that MaW iaauo OF bonls must
,o ~ ade The ,,,t,,s s, sgEiss,teu E'i, vt %1a WA
eccsl that nlnount, anl ll not scoI,. sufficient
| basis for bonded indcbtctinesa nf sl.0yOoo,
tho stock VIVA watcred up 10 $4,000, ,o0; Then,
nEuinst tho further prolott OIL Mr; Dnaleyt sec
Of COY, 100; and tslat Kentlctnan i.lll'Rrantty
resigned tic position Of Supcrihtcnt!ent t1 nisd
hfoko on al connection win Tue wo,Ka. ' .n Ing
scco,-inortga!e bon'!s were nearly a., seSnIoa
c!se,-ant tilo WatSrcu nhl va!ncicss stoeK Was
disposed q to oil tlloao WHO Wcro toolish caonTh
suy o. eoussn; .aSag teamSas1as Us q the th
man who iias recently cnrhtoaed M,,r1se't "no to
| Grcat KeIuf1ncr" were not knoWn u tno
n,ib!ic, an1 the apparent prosperity Oh tnc
works, ani the EXPRESSED desire TO i9ssenso r .,,
thcr Wern yGnesu @ Ge eScca . 'gr ,nn' lo
vclicy and 200! falt!. OF NJ. Iiidcm,s company,
H. p,n|'sf;; ,|;,v,s r,tr.ron. w,, con,,dcrea =
misfortune 81 tho iitiio somaun!tyi @ bpt M Mr;
John Hni'lcs, who aurSeedea , l, , nh Wlo W.. saiii
lives here, soon GAINED tie Eoou WI OF Tug i1o;,
anil inspired lilo sumo coniiucnee lnat maa Dce e
enjoyed W Dudley. Alter tlMo, however, "
hecatnc appggent to the naw SUPERINTENDENT
that Il would bc tmpossi1le lor the works to Pay
the Interest on g, 100000 OF bonds mud aiyi.
dend Oh 80, 600 GOO Of stock. mud lic also quietly
Withdrew: shortly after MS rGtirslnent t1e ~.
den bubble blrBt, and the PUBLIC became amhre
TINT the nrndy's Bend 1ron COMPANY was
ruined concern. before ttl!s. however, "tho
Great Rcformcrn md his intttnates had dis.
posed of all their stock, TctanIns ony part
Ut the tlrst-tnOrtEnEU 1OlGs. Iheyt therefore,
appeared after tho crash In the position Of crcd-
ltorD rather than debtors !,
As 1t is, perhaps, UNNECESSARY ,t TO state, tho
Victims In most OF MR. I1lucn's ratlfoaa "opcr-