New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-09-08
MIR. FIELD AND Mr.. TTLDEN.

THE STATESMAN'S CHARACTER ANALfIED.
MIR. FIELDS ACCOUNT OF HOW HE was TREATED
IN RELATION TO THE SALE OF NEw-YopK
ELEVATED RAILWAY STOCK.
The World published on Saturday n letter
from Cyrus w. Field which gives detailed account of
his business relations with samuel J. Tlden in the
building and Management OF the New-York Elevated
Railroad The statements OF Mr.. Field fortified with
copies OF original agreements and ~ letters from Mr.
1iden Mr.. Field excuses in part, follows the pub
liclty given to private matters:
say that a transaction cannot aud ought not to be
kept private" which throws a strong light on the char
scter Of who Is ~ this moment the most cousric
Whole cSuntry is interested 10 know what lori Of man
he Is The interest in the matter between Is not be-
Whether l nave been treated by him as one genueman
should treat anotssris mater wSien concerns "
lions But everybody Is interested to know whether
President OF the United States IS an honest ana an
honorabI" man. A. present me- Is an enigma. about
wleD there are The most opposite opinions
Mr.. Field bought controlling interest IN the road IN
May 1877 Many OF his friends, he Gays, thought him
rsung HIS money in enterprise Of which the
looked very doubtful After several men OF
large capital. 10 whom ne offered part OF his purchase
OF cost, had refused to Join him. he made similar pro
p0sals his neghbor Samuel J. Tilden, whom he had
Known for thirty years
Mr. Tilden took papers and after day or two &c
c.pied the proposal but said tnat as he vas inule
man he DID not wish 10 ne mixed up lh business 'sS
aud desired the stock 10 bs put In the name % ms
nephew, William I. PeitoD This young man d.d not
know by sight Mr.. 1laen introduced MIN 70 NJ,
as an ex selsit OF bsluesusi toe one We %nnis'
But SIR. Tildcn eamo to TESTIFY before the 19-
ressioua, Committee admitted mat NJ tis very Tine
ne knew (athOugn the public did nos Know ~ months
aftervsrd ~ about ms Transactions a resain 20 se
cipher dispatches! Yer. kOwiEg tl ne presence W
me man who who had attempted bribery, ana 50 peci
sIy OF erns ~ Sss csoss 70 70 aim"
And began M business acquaintance with M III
tie iessi, Of Very peculiar HABITS
Il Mr. Ti.d-n the stock was entered in Petons
name, and st the same request Peon WAS made wee
pre- ,ssl o, sns 'hns siton was reen Ec was
his nephew and lived IN his honse, and was he trusted
and Confidential agent No one Of u ever supposed That
Peiton aid anything without Instructions
Among tae engagements enrly formed among the prn
Cpa stockholders that we would net sell any OF
car stock or bonds FOR six months II made writ
iug and signed by thiriy including every
director aud representing more nan nneenths II the
whole stock or the company. TJis agreement; was
s-yDed October II 1877. and was iai'hiu'N kept by
every except PetE, who ittin FEW weeks after
sold secretly 30 several Of Mr. Tdeis peIsonai ana pO-
tica friends. lie confronted win Tie Iaet IN the
Board OF Directors aud lad to acknowledge init he had
broken his word What lac had done once IL was not un
likely that he would 30 again
which not altogether agreeable u our directors SO
presence OF the Board that n he did not instantly resign
his place ns vicorcdent he would be and lie
unanimously Accepssd. Al the next election M was
dropped the Board and has shown himself %
Us agAn. Yet tine stock stu remained IN bis NAME. and
=, :, % ny snbrr dsna,caes ann Pcita, fcnpd hat
us health required him 10 seek rep0se Canada. and
oag after Indeed i was no, unit. last December that
any portion was transferred back 70 ir I lden.
AZ l Wish to give every man his due, mast say. IN
regard 10 those other matters wheA have booone 10
notorious thai think Peltou bad mOic than his SHARE
OF odiurn who not only cphers. but v no Is
himself cipher, is hardy proper object OF puzzle In
dituauOn. Pciton 70 simply clay ~ the hands o. the
potier lie does nothog 81 himself; he does mol even
think for llulseli Whatever MF. Il.den thlnas no
thinks whatever dr liden wishes HIM "a say, ne says;
or If Mr. Tdon wishc hn not To hing he Keeps
silent 80 lar as DO agsgIs IL a po'e ~, sqls%9tSh,
presence behind. And yet poor Peton haf had to bear
the Odium OF al the ihin whcn nave sey been ioaud
out lie i iile " |icscd lattni Nn9 Ia -e cOhNehrnt
sezpegost for The sins of iae company" Strange that
he should do such naughty things while his venerable
who Is almost too good Io THIS World sits IN ms
library, sereneiy unconscious OF whs - going OIL under
his roof anu greyed to the heart AT The yard
Of the youth whom he has reared with such tender
carel
public. but IL only amuscs those VIC Know the relations
OF the two parties No one who has seen how cuse and
intimate these arehOw completely PeltOn is
TiiSen's ether self will believe that 10 could ande-
tnjo any iniportant transaction business or political
tnst his did know all about unless indeed. 1t
we're "a Of voluntary OF Intentional Ignorance, as
when one desires certain thing 10 BE- done, but while
rVipg secret instructions adds must not know any
tang about it, Perhaps this mask mas been worn long
ceny remove H. When the Of the elevated road
became assured. and even went beyond az NC pt9
did wish De mixed up IN business afa'rsD showed
the greatest interest in it. lie came almost daily to my
house office TO talk u over All was gong On SWIM
ely. and he was the most delighted of men lie
never ihtnated any dissatisfaction WIN the manas'S
Ment On the contrary AS day by Gay the STOCK mounted
higher and hlghcr he evineed an almost childish citation
"A
IN May last / went TO England attend the Tele-
graphic Congress. which met early ~ June, and TO see
daughter who married and livHg in Europe and
who came 60 London 10 meet nc. ncsrme thst vas
going. Mr. TildeD came TO my house aud asked me II
saying that perhsps might II the market should prove
favorable, ne wished me 10 sell portion OF hls also,
sTe!ed that II he wished would do With his stock as
l and wito my own, but that under 20 circumstance
associates One condition only did make, as neces
silly successful negctiatlon--that the price sn9uid
h. fut nod her. vi IA
The market did not need any manipulation or comona
ton 10 support it, The STEADY Increase OF business the
stock great intrinsic value. There was worry little OF
ths large holders threw II upon market they could
easily depress IT, But they woad only iet II sicps IL
Tilden to keep up" 1t was simply ASKING him net to
To ali this he sssented At least he made no
Mr. Field sailed May 81, aud soon after bis arrival
In London received letter from Mr. Tden placing at
bis disposal $500 shares of the guaranteed stock TO be
sold at not less than 143.
Now will be believed that after Whispering such an
assurance, and writing sucn letter 10 his Dear Mr.
FIELD" had hardly left tho hsrbor Of NewYork before
he was selling right and left BE began setting that
which he increased by constant sales 20 over 1000.
man to 20 to a man who had offered to do MIN a
vice sbroad II his object had oeon 10 n1ure tho COM
tsssp more direct means heard OF this as soon
reached Queenstown. In London received such mes
allen is running" Other large holders followed his
ample, until market drm0Taiized and tho stock
went down from 200 10 1G4 or course this Was very
rportifyinR 1t threw disgrace on the COMPANY for
which had worked two years. aud In tho success OF
which took great pride.
Mr.. Tden is careful 10 say that he did not agree
not 10 sell his stock In my absence. Ny recollection
differs entirely from his But be had not in s.
many words among gentlemen an Understanding IL
as bading a formal agreement" Theirs IL All I'M
written code OF honor sacred any legal statute,
and code requires that gentlemen, even they he
friends. when noting IN Il matter of common IN
act openly aud abOvebOarc not mdtng helr IN
tentOns each other Ia order to get advantage
n he a rad a H.
deception. and An Intentional one he KEEP D9 In che
dnrs. and md not show his hand till wei out Of
tho way. Tue eOnceasent bad Is " be bad tod