"Our construction is advancing well. We have sent up 400 additional men since Feb. 1. We still strain every nerve for completion June 1. None of our managers in the West fear that it will be much later. I assure you that in this respect and in all respects our affairs were never so promising as now. I express my strong desire to form a junction of our interests as frankly as if you did not represent the other party to the negotiation; for, while attending carefully to everything necessary to our independent existence, I see that it can still be bettered by the measure contemplated. There is no mistake so common among business men as to suppose that what one gains another loses. I have just had an illustration of this in making in behalf of the bondholders of the Fort Wayne a counter proposition to that of the stockholders under which the stock rose 40 per cent. "It is important to all interests that a conclusion be arrived at as soon as possible. When you are in a situation to negotiate definitely, with full powers, I shall be glad to discuss and also to submit suggestions, and shall be ready to conclude arrangements, if any be found practicable. "Please excuse the rambling haste in which I write. "I remain, "Very truly, "Your friend, "S. J. TILDEN." "_Joseph S. Fay, Esqr., Boston, Mass._" TILDEN TO JOS. S. FAY "NEW YORK, _April 8th, 1864_. "MY DEAR SIR,--Your letter of the 4th was duly received. "In reference to your conclusion that there is 'no difficulty in arranging some mode of sale but _price_,' I agree that it is justified by the general correspondence of our views as to the utility of uniting the two lines and as to the policy which should govern the management of the joint concern. Doubtless your mind has truly fixed the precise point at which divergence of sentiments would be natural, and where alone it is likely to exist. "But is such divergence inevitable even there? Is there not some solution which will give us what we agree in desiring--the unity of works and interests, and will yet allow scope enough for the favorable view by each party of the relative value of its own property? "Financial expedients are so capable of adaptation, and I have so often been fortunate in bringing into accord interests and opinions which seemed to the parties to clash, that, seeing an object desirable to us both obstructed or delayed, I am disposed at once to analyze the elements of difference, and try if there be not some solution equally advantageous and equally agreeable to the parties whom we respectively represent.