Union County courier. [volume] (Elk Point, Union County, D.T. [S.D.]) 187?-1913, 1879-10-15
CYRUS AND SAMMY.


!
!, Something About the Elevated Raj
. way SHOCK Deal, In which Cyfu
Field Was scooped by Tilden. .-Fleld
Pen Pictures OF the Gre at Rcf0Fme
Not long since was published the mat
rial portion of statement made /
Cyrus W. Field regarding busine
Transaction between himself and Tide
In which the latter was charged vii
treachery and dishonesty. 1t will
remembered that the substance of Ii
matter was this: Field held a lare
amount Of the stock Of the New Yor
Elevated railway; rising in value, it b.
came desirable as an investment, an
| Field sold Tilden considerable portion q
what he held of this stock. At MI
Iilden's request the stocks sold hir
were transferred to Pelton, and he wa
made vioe-president of the company
Iildens 80 he said, not wanting to ap
pear In any manner in such an enter
prise, as 1t might injure him ~ publ
man. Field decided TO 90 to Englan'
and dispose of some Of the stock amonI
Capitalists there; but in order to accom-
plish this purpose it was important tina
the price of the stock in this countr,
should be maintained at the high pric1
which it had attained, and to se
cure this end it was necessary thai
there should not be any large amount
OF 1t thrown upon the market. Ar
understanding was, therefore, had with
Tilden and other large holders that they
should not sell until Field had had full
opportunity to effect his negotiations in
England. Tilden very cordially assent.
ed to this arrangement, leading Field,
by words and manner, to understand
that he was fully committed to the
policy; but no sooner had Field got well
out on his voyage than Tildon sold q
large part of his stocks, thus defeating
Fields mission.
To this charge Tilden, after some
delay, entered long and general denial,
ridiculing the idea that he should enter
into any such arrangement. Field
rejoins in a very forcible article, in
which he more than sustains all the
charges previously made. Below We
give the principal portion of this second
statement 30 far as it relates to the
charges of duplicity and bad faith:
But all these are minor issues, which
brush aside to come to the main point. in
which charge Mr.. Tilden with deception
and alsehood-falsehood both acted and
spoken. The point is this: that when he
sought my aid in q large business trausac.
ton, which could only be done ON one con.
dition, he thereby accepted the understand.
ing, which had sll the force of positive
agreement, that he should not in my
absence do anything against our common
interest, and that this understanding he
violated as soon as l was out OF the way,
and therein practiced q gross deception for
his own profit and to my injury. This is
my accusation, which make as plain az
words can make it, and which have sup
ported by proofs the most circumstantial
his long statement very carefully, cannot
see that it disproves in single particular
the facts l have given, or the inevitable
conclusion which they involve. How does
he answer me?
First, he makes reply that others sold as
we'll as he; that the directors sold freely,
and not only 80, but that they cold before
he did and he is at pains to produce from
the books OF the company long list OF
transfers of stock before / sailed. Very
well what of that? That is no news to me.
l knew all that before. They did what they
had perfect right to do; nor did l ever
dream of abridging. their liberty in this
respect, or have the slightest feeling because
they chose to sell. What they did was
done in perfect fairness and frankness. 1t
was done openly and above.board. 1t was
reserved for Mr.. Nlden to keep in the back.
ground, with his intentions concealed
to take sweet counsel with his
friend, from whom he was about to
part; to follow him to the ship and
bid him a tender adieu, lulling his suspi-
cious by giving him the full Impression that
he was going to do all in his power to keep
up the market and not to break it down;
and then hasten from the ship to his brokers
and tell them to sell out as fast as possible!
This was certainly an adroit man0uvre,
worthy of q stock broker il not Of q states
man. (By the way, il was another coinci-
dence mot less curious and interesting than
that noted above in the case Of Mr.. Have.
meyer, that the brokers who sold stock the
moment my back was turned were the
brokers with whom $S,00U had been depos.
tied to be used in Oregon during the count
ing OF the electoral votes in lS76D
Mr.. Tilden says: "After had heard Of
Mr.. Fields proposals to the directors to
undertake to sell stock for them he made Q
similar offer to me-" Indeed, Mr.. Tilden?
Is that quite the way to put It? IL that the
truth, and the whole truth! To say that
teersd it. On the contrary did not the pro.
posal come from you? Did you not come
to my house and ask me TO do this service?
And did l not accept only on one c0ndi.
ton? As to this condition will you deny
that l said to you again and again that the
market must be maintained here?"
That makes all the difference in the world
between you and others who sold. The
want OF good faith was not in the selling
but in the manner and the time Of 1t.
What the directors did was one thing, what
you did was another. What they did was
fair and square, in broad daylight. What
YOU did was done secretly, unknown to
your "friend" who was on the ocean. You
sent letter after me the very next day after
I sailed. Why did you not impart the
cheerful intelligence that you were already
beginning to "unload." You telegraphed
to me in London. The despatch came
through my secretary and cost you nothing.
You could have made it ~ full and minute
as you pleased. Why did you not say =
word Of the good progress You were making
in selling ont here' No. cir, there vas con.
cealment all through, and therein lies the
difference between you and those whom you
try to associate with you. What they did
was honorable: what you did was dishonor-
able. Ny controversy 10 with you, not
with anybody else, and do not mean that
you shall escape BY hiding behind other and
better men, and quote their open transac.
tions q an excuse for your decsptions and
treachery.
But you deny the agreement or under.
standing and viii have Il that there was NO
condition whatever, either expressed or Inn.
Piled. This would reduce the question
simply to one of veracity, your word against
mine. In such cases the public must decide
by weighing the probabilities. II it likely
that would undertake negotiation abroad
with the full freedom Of my associAte to do.
feat IL at home3 The question answers
itself. The thing 10 too absurd for belief.
Il il oontradicted by your letter and your
telegram which intrnsted 70 my care busi.
ness matter Of importance, which should
have been the most foolish Of men 10 m.
deYtaks while leaving yea free 10 "swiug
round the circle" In the way you did here
imnsdistsly after was gone.
That Mr.. TildeA waa oOnscious that he
had not done !" the squaFs thing," /" bat had
taksa mean advantage Of my eAsencs,
and done that Of which hs esshs Z BE-
ashamed, was snfacisnty shows BY 'Ae
pains he took TO svoid me on ny retHra. !
AZ - ~. Al kAA - Al nnossn