The daily gazette., 1879-07-30

BONANZA AuAunHr RAIlnOAD


DoNANzA II MAUTRKEr RAILROAD
Ar. Q. W. Flela's Fortunate Invest.
From the II. Ys World. ,yd ma. -.a
-AI a PET OF PROVIDENCE.
4 wonderful song Of thanksgiving
which Ar, Cyrus w. Field yesterday
varbled into the large and listening ear
Of our esteemed contemporary, the Her.
aid, gives rise 10 many and diverse re.
Elections. Mr.. Field has not - q rule,
We believe, been given to inviting casual
interviews to Inspect either his bank book
or his bosom, and when he departs from
that reticencs With has won for him the
admiration Of two continents, In order to
~bull" New York Elevated Railroad
stock, the inference can hardly be re-
sisted that he must desire the public
either to share his joy or to enjoy his
shares. The "note" Of Mr.. Fields
observations, ~ musicians might say,
b one Of pious rapture. His gratitude
TO bis Maker breaks out in the most
unexpected ways and places. 'sIt seems"
he observes, ''as II there had been q spec
al Providence experimenting the enter
Driae." Tho benignity Of this Providence
was shown, at least 70 the mind of Mr..
Field, In the fact that s'the price of iron
went down to fabulously low figure,"
and IN the further fact that In building
the Third svenue road 1--WE could hire
four man for the price Of one." We may
probably assume that Mr.. Fields has no
Intention Of soliciting the suffrages Of his
fellow-citiEens for any public Office on
the strength Of these peculiar views of
the divine benignity. We certainly should
not advise him to do 20. It has long
been held that "what Is one mans meat
ID another mans poison" but it appears
toW that 4r. Field may possibly over
estimate the Importance Of the Third av-
enue railroad, II not Of Mr.. Field him.
Self, In the scheme of Divine Providence,
whom be loudly thanks God for reducing
. large number of his fellowbeings 10
such miserable condition, merely to
Oblige him, that he could get four of them
TO work for the wages of one. -..lr
Mr.. Field sees the finger of Providence
In this, however, - we'll as in the de-
preston Of the iron manufacture and
he sees the finger Of Providence also,
where few men would have thought Of
looking for 1t, in the low rate at which
he was individually enabled to buy his
own elevated railway bonds. Consider
the reflection thus thrown, for example,
upon Governor 'Cilden. According to
Mr.. Field, that wary operator bought his
bonds at $4O0, the par of the same being
$1,000, while BY Divivine Providence
Mr.. Fold was enabled to pick up his for
$125. Furthermore, Mr.. Fields bonds
were liable to an assessment, which, also
through an especial grace, was never
out again, "That's where, as l say, 1t
s'seems as If the Almighty favored us in
ssevery condition." It is comforting to
be assured that the comparatively unfor-
tunate Mr.. Tilden, though unfavored
by Divine Providence, has "since sold
out" accord to Mr.. Field, "with more
than 81 JO00, 600 profit, while Mr.. Field,
who was divinely assisted to buy his
bonds for . third Of what Mr.. Tilden
50 much @ bewiidered haS a By his Il wesIt6
that he hardly knows what to do with it.
The reporter mildly intimated that as
the company was doing so well it might
be q good thing to put the fares down to
s cents. Mr.. Field secuted this sugges-
ton with great scorn, for the simple
thought not obvious ground that it was
an s'impossibility." 1t clearly must be,
because Mr.. Field is not at ali avaricious.
81 consider that am entitled" he ex-
s'plains, "fOr the risk l ran, to 10 per
scent. dividend on the New York Ele-
s'vated stock, 10 ON the Manhattan and
81 on the bonds"
That is certainly moderate. To un-
dARufnUA hnUv v1nndoRafo IL fo
bear In mind that Mr.. Field bought his
bonds not ct the q 600 upon which he
conslders that he is entitled to reoeive
per cent, but at $125, so that ~ per
cent" is In peint Of fact, something like
60 per cent. upon the investment to
which the finger OF Providence SO wisely
guided MI. Field. A return OF 60 per
lists not favored especially by Providence
for taking . considerable risk. Mr. Til
ben, who Is not SO eminently as Mr..
Field the pet of Providence, would at
this rate only be "entitlod" to . beggarly
return Of 30 per cant, and this may ac-
count for his "selhng out" - Mr.. Field
intimates that he has. Perhaps he was
petty return. Perhaps he "stood from
under" Tho natural Interference Of the
carnal mind from Mr.. Fields extraordi-
nary glorification of his investment
would b that he 10 too anxious to stand
from under, and to put his hard-earned
money In something that may return
him moro than "7 per cent. upon the
bonds" The carnal mind would infer
this from Its observations Of the fact that
. man who is delfghted with an invest
ment commonly holds his tongue and
takes some more Of the same sort as
cheap ~ be can get it. But this intsrfer-
ence probably does not hold in the case
Of pets Of Providence: Mr.. Field at all
events explicitly repels It. "I haven't"
he said, With some little hardness ct
heart to the NO doubt covetous reporter,
"I haven't dollar Of stock to sell"
This being the case is It gratifying to
hnd that MT. Field has . strong sense of
the duty which corporations owe to the
public. He Ia not the man from whom
scoffers perhaps would expect this, but
he manifeats It nevertheless. "I believe"
he says, that not another foot of street
should be occupied BY any company
which has not successfully competed for
the privilege at public auctien." This
excellent Observation appears to have
beeu suggested by tho case of Mr.. Van
derbilr, and BY the nefarious scheme at
t.ibpted to him Of building another road
with intent 70 cut down Mr.. Fields mis-
erable revenue Of "7 per cent" As
good rule working both fore and Aft 1t
may prove TO be applicable ito the case
OF Mr.. Field. And ~ 1t In not practica-
BILE to determine BY "public auction"
how much Mr.. Field ought to pay for
the streets he occupies, the only resource
WOuld a0Am Arbitration. II that mathOd