The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1839-03-20

Tor OF Tue ppfi ~ lscW lOIh
Answer. Yes.
Question Q Do You know any thing Of the causes
and extent OF Mr. Swariwouls defalcainn a. collec-
tor, the length Of time il existed or Of any material
fact connected iherewith1
Answer. do not.
Question g. What l. your occupaiionf
Answer. Stock and exchange broker.
Question L. Have you been concerned as sueh
broker In any operations or speeulaons in s'oeAs YIN
account OF Mr.. Swarlwunt3 ~.
Question s. Have YOU ever bought and sold stock
ON Joint account OF yourself and said swanwou'f
Question 6. To what amount have yon bought
and sold stocks for said Swanwoutf Can you
fnruisb copy Of your accounts with hint
Answer. ! should think not more than 100000;
we can furnish statement 10 an account OF pui-
chase and sale OF Morris canal stock there appears
loss 10 him OF between live and six hundred dol
lars rH
Question T. In any other and all other stocks in
which YOU have acted as his broker, was there any
considerable loss TO said Swarwout
Answer. To the best Of my recollection, he did
not lose money in his stock operations made through
our agency.
Alexander Hamilton was sworn as a witness.
Eraminedby Mr.. Oaesns.
Question l. Were you acquainted with MIR. Swart-
won't during the time he was collector OF New York;
Have you any knowledge OF the mode and manner
Answer. was well acquainted with Mr. Swart-
won't before and during the time he was collector,
but am entirely ignorant ofhe manner In which his
official duties were performed.
QUESTION:. Was Mr., Swartwout during the time
he was collector In the habit Of specializing in stocks
in New York or elsewhere Iyea, STATE the nature
of the stocks who were his brokers' and whether his
specualions were confined TO himself alone or were
other persons engaged with him, and who were
those personsi
Answer MIR. Swartwout was In the constant habit
Of specializing in stocks and with several brokers'
The Wards and Josephs are alone positively known
to me such but do not know whether his specu-
ations were jointly with others.
Question g. Were you In familiar and daily inter-
course with Swanwout2 Do you know of your
own knowledge, or have you heard from him, the
results Of his speculations either in stocks or real
estate whether the were fortunate or adverse,
and the amount of money gained or lost IN them
Answer. i was In the constant habit OF free con-
verse with Mr.. Swartwout, and, although was un-
der the impression that his operations in stocks and
real estate were Fortunate have no positive know
ledge on the subject, with the exception OF having
been informed by the Josephs that they at one time
paid Swartwout balance arising oat of profits from
The purchase and sale of Morris canal stock Of $780,
OOO but, at the time Of the departure Of Mr. Swart
wout they related 10 me that he was indebted TO them
$4,000.
Eramined5V Mr.. Damson.
Question 5. What was the reputation Of Samuel
Swartwout, at the time of his appointment, in the
year 1929, for pecuniary responsibility
Answer. Without any; on the contrary, he was
generally understood to be much involved in debt
Russell H. Nepiassworn as witness. Mr.. Nevins,
who had been summoned at the instance OF Mr.
Owens, was
Examined By Mr.. Curtis.
Question l. Did you know Samuel Swartwou
while he held the office OF collector Of New York;
Answer. Yes.
Question Q. What Is your occupation
Answer. Stock and exchange broker
Question 3. Have you at any time, and u what ex-
tent, acted as broker agent of said Swartwou, in
the purchase and sale OF stocks?
Answer. The transactions Of our house with Mr.
Swartwout have been but few, and believe only in
single instance was there purchase OF stock ior
his account This 10 the amount OF abut $23 600.
There was a transaction of a larger amount with
another person, with whom II was understood Mr.
Swartwout was party concerned.
II has not yet been entirely closed and, at the pre-
sent prices OF the stock, very considerable loss
would be the result. Mr.. Swartwout never paid any
money on account of the above transaction. never
knew him 10 have money, but he always wanted TO
borrow.
Examined by Mr.. Otceas.
Question 4. You say Mr.. Swartwout was engag
ed with others in certain speculation OF stocks;
will you name the persons 50 interested with him,
and the amount Of the speculatioDs2
Answer. The name OF the person interested with
Mr. Swariwou do not feel al liberty to rention; ;
he was the one whom placed my sole reliance,
and was of undoubed responsibility. Mr.. Swart-
won't did not originally suppose TO be concerned in
the transaction The other person was not in the
custom house, and held no Office under the Govern
ment.
The amount Of stock purchased was, to the best of
nv recollection about fifty thousand dollars. Swart-
won't never paid any thing on account of the stock
Examined By Mr.. Wise.
Question g. What was Mr.. Swartwou,'s general
character man of pecuniary responsibility, when
he was appointed, in 1929; and afterwards, when he
was reappJin,ed, in 1884
Answer 1t was generally considered not to be
good AT the time of his first appointment II was
decidedly bad.
Question O. Was il not notorious in New York.
during the whole time Mr. Swartwout was in Office,
that he was specializing in various modes, upon an
extensive and hazardous scale
Answer Think il generally believed in the
neighborhood Of Wall street that Mr.. Swartwout
was engaged in many and extensive speculations.
James b. Murray was examined as witness.
Examined By Mr.. O1ccns
Question l. Are you resident Of New York,
and what is your business or occupation? Were
you director or president Of the Morris Canal
Company, and how long have you been sol
Answer am a resident of New York: by pro-
fession a merchant; was elected director of the
Morris Canal Company in February, in 1884, and,
with the exception of short interval have continu
ed so until the present time. was president OF the
Morris Canal Company, and resigned that situation
when Louis McLane, Esq, was elected.
Question g. Do you, as director of the Morris
Canal Company, know, or from conversations with
Swartwout, the amount of stock in that company in
which he (SwartwouD specialized; and the amount
of loss and gain.
Answer remember Mr.. Swartwout having
stated to me, at or about the period Of my retiring
from the presidency Of the Morris Canal Company,
that he had cleared large sum OF money in that
sock; and think he mentioned the amount as be-
ing $70 600. But what his subsequent trans
actions in that stock do not know nor have any
particular knowledge at any time, except as above
stated.
Question 3. Were you acquainted with Mr. Swart-
won't during the time he was collector of New York
Was he engaged in stock specuatons and to what
amount State the stocks be so speculated in, and
whether they were fortunate or adverse and the
amount of loss or gain.
Answer. | was acquainted with Mr.. Swartwout