New-York tribune., 1879-12-18
WIZ DIR. YfLDEg Sh1rLEf

EXPECTED To FOLLOW MR. sAGE's LEAD.
on oF ruE GRAMrRcY Pack srATI.HAN's RAILROAD
sCIE'ms COMING PACK 20 PLAGUE THE INVEN-
TOR.
Two of the four members OF the B,ndholders
Pur hasing Committee, nndcr the reconstruction
scheme. have made a settlement with the -. Lonis
Alton and rerre Hante Railway Company. lhe
executors of the estate of Robert Bayard nearly
wear ag0 restored his share of the securities held by
ihc committee. and Russell Sage. another member
has recently compromise with the company 10y pay
ing 100000 IN the companv's bonds. The re-
naming members Of the committee were Samuel D.
Tilden and Charles Butler. Negotiations for set
ticuicnt in their behalf have been in progress for
several days. hut they have not yet been successful
The work of reconstruction was begun IN ls6l
and q committee was appointed to buy the road IN
behalf Of the bondholders The foreclosure had
been made under the second MORTGAGE bonds. Rob
ert Bavard was chairman of the committee and
>amuel j. Tilden was rs counsellor. IL is alleged
that Mr. Tildon received fee Of $4,000 for his
services new company. the St. Louis.
Alton and Terre Haute. was formed;
and the securities and debts Of thu ola
company were paid by the issue of the various
bonds and stocks of the new COMPANY. After these
mad bean retired n surplus cf the securities re
manned IN the hands of the committee. which was
diviGcd among IL members. This was done lt l.
there might be still outstanding claims for
winch the committee would he held re-
sponsibe. The stockholders of the new com
pauV hecame dissatisfied with tnr aciion OF the
+ Tchasing Committee and the company hegan
about three wears agO "a sri for an accounting. ms
has been DELAYED on various prcicXfs. but the com
ply has urged It's suit. Conferences have been held
between the surviving members Of the committee.
.huf no agreement could be reached. Mr. sage
finally settled on his own account. and " vas m
mored Yesterday that Mr. Tilden and Mr.. Butler
had 20 compromised with the company. Persons
Interested in the company stated last eveuing tnat
set tlemenf had heen effected althongn negotla-
tions were still in progress. II il asserted that tue
company has informed the remaining defendants
tha the suit must be settled by botn al once.
The amount of bonds and stock divided between
the four members of The committee was between
5000 900 AMI 1900, 600, and with the accnlnnl.icd
interest the debt now amounts TO about HIoV.OuV
each Mr.. BaYard reported never 90 have accelteu
bis portion but have dep0s ted ~ IN the Bank OF
Commerce The division WAS made. n J. alleged.
upon the advice of Mr. liioen. and members OF tine
committee charge upon hlm the dlincuities winch
have resulted from It.
MR.. TIiDEN IN ~ EMBARRASSING POSITION.
A banker who is well acquainted with the history
Of tie case said last night:
Russell Sagc's payment of the companys claim
leaves Mr. Tildeu and Mr.. Butler in an em5arTass-
ing position. he action Of Mr.. Barsrd's executors
coglc OF course be explained on the theory that
ihcl wanted 90 close mp the affairs of the
estate But here - blr Sage so convinced Of lhe
strength Of The lompany'. case th3t be pays d,
bonds worth 100000. OF course the case viii
stll be prosecuted against the tour men, OF
ther representatives, hut MI sage mas
secured paper- winch VIII free hin from
AN further auxietv about the action OF the
cuHrts. ON the otner hand the committee renr"-
s, fr-p the pfo-ecutig lroaI have defsrf lined 20
make no separate compromise with citner Mr III
cen or III. Butler but only with them loiniy.
The LAWYERS OF Ar. lldcn cane 20 the cnui-
nanv'- Office soon after The couipromise with
Mr. sage one of them 70 joke with the officers about
H. tie other 20 throw ont hiIts flat similar COM
promise might be- made with NJ. Iilden. since then
there have been negOi arion, hear with reprrsen-
taiycs oi both Mr.. Iiden and lll. Butler ln regard
ID a cGflnrouisr.'