New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-08-26
THE sUsQEHANNA RAILR0AD VAR


the parties charged with contempt reference has been
ordered by the Court to continue the taking OF test
mOny but the time when the testimony snah mn b
be fixed hereafter by mutual agreement OF the parties
concerned.
ANOTHER sUsoUEHANNA RAILROAD CASE.
Joseph Bush agt. The Albany and Susque-
hanna Railroad Co.. and AERO Chase ag The Albany and
susauehanna Railroad Gothic following is the most I'M
portant portion Of the testimony taken before Mr. L.
Lowe Referee in these the contempt proceed
ings The testimony previously given by Mr. Rameey IN
open Court and which has been already published IN
TUE TRIBUNE, being admitted the examination by MI
Field resulted follows cannot tell the amount OF
stock now outstanding is something over 2OOO shares
OF full paid stock and partly paid; the amount OF
partly paid stock is between 9OO0 and 10000 shares the
unpaid stock is held by several persons. O. Give the
names4 A. Mr.. John Westervelt Mr.. John Cooley MT
f. r. Ford, and Jared Goodyear all these parties own
full paid and partly paid stock there are some others
do not think of their names now; lhold ABOUT VVo
shares and have held about 1000 shares since July las
subscriptions were made the stock under the general
law; the capital stock Of the Company
was AOc0OOO and it was not al filed up
O. When were these subscriptions made
A. think time I'm July. @ Have any su6SerihuGns
been made since JHlyl A. No, believe not MI FhepS
had the subscription book suppose SUBSCRIPTIONS couu
he received from time to time until the fHl capaI Is
link been ali subscribed don't think have seen
the subscription book since It was made up III Juytne
acts the amount of stock then subscribed. @ Was the
amount then over s3OOo0O0l A. Mo- it was in the neigh
o o0' tSo priypaid soci A. Ten per cent; have
ceived subscriptions from persons VINO PAID 10 per cent.
but there have 6GO0 of the shares forfeited;
portion OF the forfeited shares was issued o Mr. Groes
beck; the rest have not been used except an arrange
mcut with Mr. Chase; 10 belongs 10 the Company; the
forfeited stock not voted on; there are 10000 shares OF
fuPad stock and 9S or 6c lU shares s9c Si eapsred
ON Which 10 per cent only has been paid think that
has subscribed
cent has been r Ghd SsRo ooSs about 4 the
same time this other stock subscribed O. When did
Won make your last subscription A. in July asst
@ siScrbe enonc 10 make up tho four milionsl A.
Mo- there GOOO shares subscribed Tor MI GfOesDcc
but don't know anything about ten per cent being paid
subsebed for 900 OF 500 for myself O. Were you the
last person who subscribed A. don't thhk was; we
All subscribed about the time MISSIONER, Goodyear,
the others named, and r. H. PruyD, that / have not
mentioned; they subscribed, thlnR, lVV shtTes "
Did Won not at that time, subscribe enough TO make up
fine iu Stockholm miliOnsi A. No. Sir; IL expect
ed the bapiOn of Mr.. GTOosbeCk would pretty nearly
A n np that and wDat subscribed would make 1t up
within two thousand shares think no one to my knOwl
has subscribed for those thousand shares since
@ GroesDeek has never paid any money on the 5o2 9
ten per cent my shares ana taken receipt Tor w
these subscriptions were taken the regular book;
cannot tell whether that book was among those taken in
Mr. Smiths office. O. Was there any agreement OF I'M
derstandng that the balance 10 make mp the four MI
lions should be subscribed in July, time sineet A.
Not at that time; not between these parties 4 nas
there sncel A. No, SIR; Mr. Groesheek talked OF
taking up his stock but did not want to have anything 10
do wit
advanced his money he wanted 20 know N0 had cohtroi
of it, subscribed for him. and aterward told him about
In but be did not pay the 10 per cent? don't think there
has been any understanding WIN any one ABOUT h9 800
uusubscribed shares; | thought though / ala not
propose 1t to them, Ddbnty. Morgan co, would nave
aeu those shares so as 10 the whole thing In the
hands OF parties knew ana that cOuld De reled on
Hxamei A. No Sir; they claimed IT, but never had IL.
o. How much stock was subscribed in Juyf A Be
subscription book is advice has been to haNe an the
books produced and have no doubt they VIII be- have
that stock list Of last year That have altered
from time 10 time for my own infOnnauon rs have
known of transfers beng made up 10 within siX weeks OF
the books being closed since that have not Kept much
track except in nv mind; / suppose could take that
hook and get at pretty near where the stock held
w thin two weeks Of the closing OF the books have
kept run Of how the stock was; have been obtaining
proxies up to time Of the subscription Of the nine
ten thousand, and since them made the account az
the time the subscription was made had control Of
about twothrds Of the full paid individual stock had
more than that proportion Of the town stock guess
buying tile towns they had some towns claimed before
that aud / had some towns which had given them.
Said stocli A. don't think does; think there is
some stock that had been forfeited and the Directors by
the Board have permitted such stock to be paid
up in fun within the year. should think 100 or 200
shares O. this the account Of the unpaid sOck-SOOO
Shares 70 Groesbeck 1900 70 yourself 1000 TO WesOyer
1000 to Cooke 1000 to Goodyear 1000 70 Ford 1000 ~
Pruyni Was there any resolution Of the BOafd author
izing these subscriptions to be madel A. Not that
know Of. @. BY what authority did you DO IL A. Sub
subscriptions; the books opened in pursuance
Of the general law, and subscriptions received
aS % Sct WSs @ IN h So ES
as previous stock e wnea {oe t9F TIE
stocki A. Pretty nearly Gar, quite par O. When
these subscriptions made they were made in good
faith intending to pay them up in full A. They were
SO far as l know q Yours wasl A. Yes, Sir Groes.'
expecting he would take it aud pay it u
until IL was wanted for the double track, perhaps
O. Did the other members of the Bomd know Of the sub
scriptioni A. do not know that they all knew; those
who made subscriptions knew; good many were mem
it was not concealed from him: talked with him
about DO yG9 know 1t was intended nc should
pccted every one would know IT, q Were the members
Of the board adverse to your interest apzed OF the act
that the subscription was made a, don't Knew that
they were; it was not necessary TO inform them @.
Who were present when you made that subscription A.
The parties that made IT, IL was all done at
time; received the subscriptions have been
agent from the beginning for receiving subscriptions.
O. IL at Albany at the office OF the Companyi A.
think the subscriptions were made at my house; the
q. Pruyn Westover, Cooke Goodyear, Ford, and Rice
A. Ges, Sir. q. Was sherman theref A. | think he
diaryi A. Yes. Sir. @ See # there is entry Of the
time when that took plaeei A. have no memorandum
at tn my house took the book there s'V q 'I Did
you discuss who should subscribe A. Yes,
made the subscription Lad large interest, aud II the
property went into the hands OF parties who would i'll
think their stock would be worth anything and this was
done for the purpose OF protecting our stock @ Why
not tuo III inc a uld
not think 1t necessary; they had the same means OF
knowledge they were not invited 70 the conference
q. Where has the subscription book been since that
time A. suppose in the hands Of the Treasurer
returned 10 TO HIM, and have not seen it since
scriptOni A. In few days; that was in another
book We had more than kAlfa-dOzen books perhaps
O. why did you write it in another booki A. / went
TO the safe and TIED 1t. tried 10 find the book
the first subscriptions were made In OF these nine
thousand shares could not find IL in the safe and
took another book with the usual heading, and
wrote :" j. Groesbeck, 5000 shares" q Had You au.
A, L understood a Inv
you not pay the 10 per cent? did not have pay
o. When did you speak TO him aboutiltten DAYS ago
A. Before that a few days in this month can't
say whether 1t was Friday or Saturday Of the
week this suit commenced; don't think Mr. Phelps
the snhscrniinn put IL