The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-04-07

dpnn
nent tnat said plaintiff did not contribute any money
or incur any risk whatever and in the subscription
the mere agent OF deponent and of the other partes
Defore mentioned; that the paintif within a fevv
minutes thereafter holding the other checks Mt the
special request OF said McComb and made another
subscription OF five thousand shares of said stock for
the use and benefit Of one Turner and in his name
ana again rendered to the Treasurer of said road
tne same Identical checks which had been offered
ana refused for the first subscription, and did not
oner dinerent tender than the checks aforesaid
that Immediately afterwards finding that said checks
would not be received, the plaintiff again went
through the form of subscribing for 5000 more shares
ol stock, and again offered TO the Treasurer the
SAID three checks, and no others; making no other
or different tender; and while deponent did not
object to the use Of his check because he knew
that 1t would not be received by the Treasurer so
that deponent did not lend nor did said Fisk borrow
or intend to borrow, any money from deponent, nor
would deponent have lent to him the amount of his
SAID checks or any other large sums for any purpose
whatever, without security. And dep onent further
says that the said checks thereupon and within
a few minutes again offered and rendered to the
Treasurer Of the road In payment of still further sub
scrptons by other parties to the stock OF the com
pany, until, without the payment of any money what
ever, and without even going through the form of
drawing new checks, subscriptions for about two
millions Of dollars nomnally made to the stock
of the company on the basis alone OF the s2I5 900
furnished by deponent and his associates in interest
as aforesaid, all OF said pretended subscriptions
being rejected by the company on the same grounds
which were insisted upon invalidating said sub
scrptons made by said Fisk for this deponent and
his associates in interest as aforesaid
Deponent further says that other large subscrip-
dons amounting to over S30,OOO,O0O were made at
about the same time by Messrs. Alley, Dillon Blair
and others, which were in the same manner refused
by the company for the same cause and the same
have never been recognized as valid.
The deponent had, previous to said New York sub
scriptions, determined to send an agent to Chicago
to make subscription there to the stock OF the said
Company, and said Fisk proposed that d eponent
would employ friend of his for that pur pose which
deponent assented to- the necessary 800 for his
expenses, sent him to Chicago to make subscrip-
tion, and, after his return, paid him $500 for his
services.
That while in Chicago as deponent is informed and
believes, the said messenger made subscription in
the name OF Fisk for 5000 more shares, and gave
draft for some sum in New York in payment there
for which draft when it reached the treasurer of the
company was rejected by him as not being money
within the requirements Of the charter OF the COM
pany and for other reasons and said pretended sub
scription was wholly invalid and void and said Fisk
has never paid any sum of money whatever ac-
count of the same BY whereof the said Fisk
no stock or interest in said company to the extent of
one dollar save only the six shares before referred
to, and his whole pretended claim arises from and
out Of the aforesaid farcical of deponents check
and those Of his associates, based upon which said
Fisk now claims to have large pecunary interest in
the stock of this company.
Deponent further says that the pretense of the
said Fisk that he has paid the sum of $780, or any
other sum whatever, for costs and expenses in con-
necon with said subscriptions which he falsely
alleges to be the of his present prosecution of
the Union Pacific Railroad Company is, as deponent
believes and charges, wholly untrue and all the de-
pOnents before named depose and say that each and
every of the material allegations in said original
complaint, and in the supplemental complaints, Is
and are absolutely false, and without substantial
foundation in fact and the material allegations
tanned in the affidavits based upon which tempo
rary receiver appointed by this Court, are in
like manner false malicious and absolutely untrue.
Deponents further say that the averments Of plain
tiff in respect to the connection of the Credit Mob
ler of America with the Pacific Railroad Company,
and In regard to the profits received, or paid or
agreed to be paid to the Credit Mober for the
struction of said road any part thereof wholly
without foundation in point of fact; that the facts
follows, and not otherwise first contract
made for the construction of small portion of the
road of the company, long after it was made, and
after much of the work under it complete was
assumed by the Credit Mobilier of America which
company agreed to become the agent of the con-
tractor and to advance the money necessary to
able him to complete his work for a commission.
That the Credit Mobier did advance to him large
sum Of money, the work was completed, the
tract price paid, and the whole connection of the
Credit Mobier OF America with the Union Pacific
Railroad Company was ended Except that there is
an unsettled balance claimed by the contractor in
the year 1885, and from that time to the present the
Credit Mobier of America has had no contract with
the said Union Pacific Railroad Company either for
the building equipment OF its road for the pur-
chase of its securities since February 1861 and each
Of the allegations of the complaint of any OF them
in this action to any other different arrangement
contracts than those above set forth, is and
false and without the semblance OF truth.
That the Credit Mobilier of America had an
original capital Of two million dollars $1,000 0O0),
all of which was paid in cash. which
subsequently increased to three millions seven
hundred and fifty thousand dollars s3, 100000 That
since its organization it has paid to its stockholders
two dividends OF six per cent and no more and its
present assets do not exceed its original capital.
That at the time of the commencement OF work on
the line of said railroad its bona de stockholders
were few in number, not exceeding in all sixty
or seventy That the directors of the company were,
have continued TO be, the largest stockholders,
and now represent over two-thrds of its whole
capital stock, and that when the contract made
under which the first two hundred and forty-seven
miles of the road was constructed there was no
Eastern railway connection for the transportation OF
iron, materials, suppes the road to be built
through new country, destitute Of resources for
prosecuting such a work; the Rebellion was in pro-
gTess; the finances of the country in an unsettled
| state; iron and materials enormously high; labor
difficult to obtain, and very great natural obstacles
| TO be surmOunted That it soon became
| necessary to call upon the directors for
very large cash advances to enable the company to
prosecute the work on the road and frequently such
advances made by the Directors and other principal
| stockholders amounted to millions OF dollars in