The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-07-03

eniercd Into contract with the sald company 10 con.
o..H ': :saa,.S. NV, said ssnis Win The
vss rsquTsa Of tAs~ =. ':. ~. Of the
BSs.a !s.ms sSS'sa mar. -sSSs the Ssus a.,
70 them personally and private. 'es. ,nls mS
wss REQUIRED TO 30 made secretly anu NJ seoret;
nss %ssrwas much TALKED over aud dis. ssed oy ,s
tpos LOCK rood, and ese directors the 'perintcn
~ " we road who wss abo In with the resi- an wa,
tot. 10 he benefits Of the secret arrangement tina, :"
VAS b "Iuiy Understood among them that full surveys
had been EIDE, and thai they had ans Of eau unaing
very ncsry "a. amour, and Of tho work that
| I'd among them. Q. among Cox, Lock wood, aud
these directors and supsrntsnde.s that the clean
net pro@ Of The oco 'o; TIA, osS MI,n % asas
estimate and conclusion before mem made up oy these
parties ih the aid and aseisane ., 'ae
inendent Of the number, 10 Co3k Lock ~ood
,cnr With the company >d Into that al the
time the understanding ans by and
betw' en- eaid Cock Lockwood ana said reoors (hree
In ber whom and ever since has been the
treasurer Of the com any anu the superin THAI
white aid Cook Lock wood osiensbly the cole con
tractors In fact the said Crok sbouh have naal boueas
interest In only one fourth OF .Ad coos.Acs, wnaIe
the remaining three fourths should be divided eqna5y
among the ave other agreeing parties, TO WITT
aid lockwood the three directors Aforesaid embracing
On aors osen, Of the company sna The superintendent
this whole road; that for the purpose of pefectng this
asre. %enu md smaxn~Sts were made and entered iao
by and among u them for the purpose Of liking and
Lnos sood under accc.diDg to said
arrangement; that Of those still In the hands
Se,.esn sm o the s dr.oo
rhich frh Of three fourths OF sad Cooke
uD, ertook to dnh OF three fourshs OF tho
hets OF the work and expenre that the poper hereto
tact Il original OF which can be produced al any Time
evidence being written In the hand writing OF
the said director named therein and signed By him. that
be nckwood) has not now possesson Of any other Of
shose written agreements, and does not know whether |
they still exist destroy but he can state the con
MIA Of hem |
he lust them, tbs, the substance OF them mood not
wook oonirac, was about being fully talked
of among these directors that would BIO very dangerous
be the contraos, especially
these very persona were most active and Instrumental
procuring said Cooke Lockw contract TO be made
especially since by Of the oy La ws oil the
company contract ItseI would be rendered void by
.uOh Interest On the par. Of any director and tina. there
concentration OF the above PANIED arrangements, he
Qockwood) found his position among ,hese men 90 IN
comfortable In many respects and especially did he be-
deeply impressed with the belief that he would
no, be as. fairly with BY the other parties TO the ar
WHOLE and for that purpose he sod out his entire
Interest in said Cooke Lockwood contract T. one Of
direcoSs who also the Treasurer OF the company
for comparatively a uhins sum, and took the Joint
bond Of tbs. diroctor snd o. said Cooke to keep him
damage By, in, er OH sooount Ct big liability there
duce To be 70 he understood, may bs added that
tho mode In which this secret arrangement was got was
this 70 wwThe entire contract was nrst taken by Cooke
Lock wood together partners then U0oke aEsgned
one bali h interest IN the contrsc lockwood which
made tho holder Of three fourths and Cooke
enc fourth eame hereupo lockwood assigned
three aths OF three ouhs Of the whss contract to the
director, who 1t the time treasurer Of the
pany with the understanding al! around thai he to
hold Anh for his private benefit, and onedfte each
for the benefit OF tho supcrintcndcnt and Of the
who the principal financial agent OF the board
and al the time he assigned also fth Of
fou, tbs another director who WA al the
time the attorney Of the company, and retained nh
for while himself but finally sold out and assigned his
entire aiming interest 70 the individual Who Wa Tie
director and treasurer.
InrI vonA hel,evex he those who have
eocsvcssc action board have consented
rous Instances bend The road OF O. proper best
course the Ing out OF largo OF money
necessarily for the advanoemen o. private interests OF
themselves the expense and loss Of The company but he
cannot say this Of bis own knowledge.