Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-09-24
.l'ILDEN AND FIELD.
Mr.. Ttlden Replies to the Accusations Nude
Oy Mr.. Field.

of charges. Speaking of these charges MI.
Tilden said he had neither time nor taste to
notice the malignant fctions which make up
most of the two and a half columns, but are
in no wise pertinent to the question of the
pretended grievance. He continued:
1T would be convenient if MIR. Field had
made up bis mind what is the exact nature
of his grievances. It is difficult to follow
him through his incoherent and contradict
tory statements. Every one of his forms of
complaint is totally without foundation,
either in truth or right. The noble faculty
of memory sometimes fails in good men,
and distorts or discolors the truth; but Mr..
Fields memory has reached that last stage
of infirmity in which it remembers
WHAT NEVER HAPPENED.
The statement that promised to keep the
elevated stock up is absolutely devoid of
truth. Mr.. Field, president of the company,
was on the steamer for Europe contemplate
ing the benefaction of the lords of England
by sparing them most of his stock. Mr..
Bishop, chairman of the controlling com
mittee, had already sold more than three
quarters of his stock. Mr.. Mills, who had
taken the share allotted to Field in excess of
what he was willing to subscribe for, had
sold most of his. Mr.. Brewster, the lead
ing committeeman, in active management of
the company, conservative man, weary with
resisting the wild measures, had already sold
all save 100 of his IL per cent. shares. Mr..
Fisk, chairman of the finance committee,
sold a quarter of his. David Bows had sold
nearly one third of his. Mr.. Lindley, SON
in-law of Mr.. Field, had sold six tenths of
his. E. M. Field, son of MIR. Field, had
also sold six-tenths of his. This was
THE STATE OF THINGS .E....
the day Mr.. Field sailed. I did not then
know the selling by the officers and direc
tors had become SO epidemic But did
know Bishop, Mills and Brewster had sold
largely. I had heard Field speak of their
sales with superb Indifference, and with
lofty consciousness of superior Judgment.
David Dows had some days before told me
that at meeting of the directors, Field said
he was about to go TO England, and, if he
found a favorable market, he intended to
sell portion of his stock; that he could sell
a larger quantity better than smaller, and
invited each director, if they wished to sell.
to write him letter. putting with his stook
such portions of their stock as they wished
to sell. Mr.. Davis also informed me that
the directors had all .,.
REFUSED Or OMITTED TO ACCEPT THIS 1Nv1-
.. -..- TATION .
on the ground that they were unwilling to
tie up their stock. Field did moi ask snv.
bodys consent to the sale of his stock. He
did not think it was necessary for him to
consult anybody as to the quantity, time, OF
price at Which he should sell. Under such
circumstances, to have myself engaged TO
keep up the stock or to have abridged IN any
manner or degree my absolute discretion to
deal with the mass of my stock according to
my own Judgment of events from day to day
would have been insanity
Mr.. Tilden said his cash Investment in the
stock he bought of Field was less than
$4,000, and that he had the opportunity to
buy the elevated stock before Field himself
had. Tilden subsequently paid in cash to
the company for stock at par nearly $780,
600, and had latsly taken from the COMPANY
at par about $350,OOO in stock and bonds.
Two years had elapsed. The enterprise had
been completed. The idea that Field had
any claim to control him in the disposal of
that large investment was simply ridiculous.
Tilden then showed from Herald inter
views with Field after his return from
Europe that Field said he was pleased to
know Tilden had sold, and thought he acted
wisely, as his political opponents were going
to make
MATTERS UNPLEASANT FOR HIM:
also expressed his faith in the investment.
and said he hadn't a dollar of stock to sell.
Tilden conjectured that Field was under the
morbid Imagination of conspiracy to
.undersell him in the London market. As to
Fields attacks on Pelton, and the charges of
Tilden's representation and peculiar bust
ness habits, Tilden said it was tissue of
fctions. These payments were all made
promptly.
The breakfast story and Fields bullying
him into paying $751; 900 was pure romance
Respecting the violation of written con-
tract charged by Field, if Col. Pelton did
admit a friend to an interest in some bonds.
it was done while Tilden was in Europe, and
he had no knowledge of it. The stock was
put in Pelton's name, but not until ten
months after it's purchase. Tilden said:
"Pelton manifested so much desire to be as
ISOLATED with the enterprise, and have the
agreement with Field taken in his name.
that assented. I had not been in the habit
of doing any of my private business through
him or with his help. It was not at nv re-
quest Pelton was made vice president was
in Paris when these proceedings took place;
had been out of the country more than three
months.n I had never heard Col. Pelton
wished to be vice president. Col. Pelton set
in motion the enterprise. He organized it
with great administrative ability and carried
it forward. He enabled the enterprise to
survive
THE IMMENSE 1NoAPAorrT OF FIELD.
After while he alienated the directors bv
taking upon himself to do things without
consulting them. think that was his real
difficulty. Some other criticisms were made
on his administration, but did not seem to
me important. When the discomfort arose.
and ever afterward, advised him to resign,
but he had set his heart on rapid transit as a
public improvement, and was ambitious Of
conducting it to success, and not Indifferent
to the personal distinction that would result.
When his troubles arose I befriended him,
though he would not follow my advice.''
Concerning Fields statement that when
Tilden testified before the Congressional
committee he admitted that at this very
time he knew (although the public did not
know until month afterwards) all about
his transactions in regard to the cipher dis
patches ''yet, knowing this, he presented to
me man who had attempted bribery and SO
been guilty of crime as one worthy of
confidence. and the one whom he specially
chose to represent himself" Tilden said: