Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1879-09-12

lay was his invincible habit of procrastina-
ton or a desire to keep open a way Of retreat
if he should wish to withdraw from his en-
gagement.
At Tildeu's request, Pelton was made vice
president Of the company. He was his trust
cd, confidential agent. Among the engage
ments early formed by the principal stock
holders was one that we would not sell any Of
our stock or bonds for six months, and this
was signed by persons representing over
ninc-tenths Of the stock. This agreement
was signed October II, 1877, and was faith
fully kept by every man except Pelton who
within few weeks after sold stock secretly
to several of Mr.. Tlden's personal and polt-
ical friends. He was confronted with the
fact in the board Of directors and compelled
to acknowledge that he had broken his word
He was asked for his resignation as vice pres
ident which was at once written and unani-
mously accepted, and at the next election he
was dropped from the board Of directors
Yet the stock remained in his name and il
was not till last December that any portion
of it was transferred back to Mr.. Tildon. No
one who has seen how close and intimate are
the relations Of these men. how completely
Pelton is Tilden's other self, will believe that
he could undertake any important transac-
ton that his uncle did not know all about.
When the success of the elevated railroad,
obtained not without labor, became assured.
Mr.. Tilden was the most delighted of men,
came almost daily to my house or Office to
talk it over, and as the stock mounted higher
aud higher evinced almost childish citation.
In May last, says Field l went TO England
to attend the telegraphic congress and see
daughter living in Europe who came to Lon
don to meet me. Hearing that was going.
Mr.. Tilden came to my house and asked me
il l intended to sell any of my stock in Lon
don, and on my saying that perhaps / might
if the market should prove favorable, he
wished me to sell a portion Of his also. One
condition only did / make ~ a necessity for
"a successful negotiation, that the price should
be maintained here This was very easy
condition. The steady increase of business,
the enormous number Of passengers carried.
gave the stock great intrinsic value. There
was very little Of it to be obtained and that
at high prices OF course, if large holders
threw it uIon the market they could easily
depross it, But if they would only let it
alone 1t would take care Of itself. Whcl.
therefore l asked Mr.. Tilden to keep it up,
II was simply asking him not to break il
down. To all this lie ass, uttd. AT least he
made no dissent The night before ! sailed
he was at my house to repeat his request and
came to see me of on the steamer, and whis-
ptr,d to me at the last moment that stock
was that day selling at 200. | said that he
had only TO sustain the market to which he
answered, Il will keep it up Yet lad
hardly left the Larbor Of New York before he
was selling right and left lie began selling
that very dny, and in the next two days sold
1900 shares. which he iucrt nsed by constant
sales to over 1000. Was this quite the hand
some thing for "a great statesman to do to
the man who had offered to do him a service
abroad Other large holders followed his ex-
ample, until the market was demoralized and
the stock went down from 200 to 1874. OF
course. this Was very Notifying. as it threw
disgrace on the company for which l had
worked two years, and in the success of
which ! took great pride II was 10 NE a
painful regret that, in ups, ting th, market
at HOME be had put it out Of my power to
serve linn is lac wished abroad. During my
stay in London I neither sold nor offered to
sell single share Of stock have not pur-
chased or sold a share Of New York elevated
stock within the last five months My in
vestmeut is intact. No doubt be has caused
loss to hundreds Of individuals who have had
TO part with their stock
My feeling toward Mr. Tildcu, ther, fore.
is not 80 much one Of anger Rs Of disgust at
the u-,auness which could take advantage Of
NY confidence to do NE rn injury. 1t was to
me a revelation Of the character Of the man
/
/ have been frequently warned but Of which
had now my first experience This will eN-
plain my very decided impression of Samuel
J, Tilder, aud why l am obliged to regard
him - something else than IAN illustrous
statesman 4 tricky man is never a great
man. Cunning is not wisdom. nor is it the
kind Of ability needed for public affairs
Craft aud trckcry may make "A politician but
not statesman. Mr.. lildens chief power
lies in these very iguoble qualities Mr. Field
concludes IF my experience, after close
intimacy Of two years, is worth anything, it
is that he is a man 20 given to ways that are
dark, to cunning and deceit, that his very
nature is SO false and trcachcrous, that he
cannot be trusted either in business or in pol
itics, and that the man or the party that en-
trusts either interest or honor To his keeping
is sure 10 be betrayed.
1t appears from an official statement made
by the secretary Of the elevated railway com.
pauy that Mr.. Tlden would have cleared
more than double the money be did, if he
had held TO his original agroemeu; with Mr.
Field.