The New York herald., 1869-01-20

q. But that the very thing tnat wish TO 60 Into
Q Then how did you make up s1is rssulni 4. :
took tue statement OF dierent people along the Line
acunsy wherein was any portion Of sns
stockholders' money; to my utter astonshment tney
made uP these nEurssi aid not want @ e make % s'y
came to see it Investigated that It would bear over
nfty per cent; was utterly astonshed; II We mad
larger. because 1t would have borne it; we have
surplus capital OF three or four millions NV.
q DO you mean cash on handf A. DO; cash on
| hand and that which is equivalent 70 the cash.
| @ Cash or money securtiesf A. Yes.
,Q Suppose the case Of wooden bridge burned In
1864; 1t was then replaced by on iron bridge; did
you take the cost OF the iron bridge Of that date
and add to It interest up TO the present tuner A.
mind ono thing-I am disposed TO answer you a. far
as can and as far as know. but do not want %
q labor to to do I this thing; we have got as
smart fellows as there are In this country
anywhere, but they were at work ior months and
| months; my instructions were these:-r want you
to see how much money that legtimately belonged
to the Stockholders you have used In new construc-
making that up; when tnS did III make ks Z dp 5E tEnes y
made 2 report, ana frop. that report-irom. what
every conhdency In the peoplel-they made up this
statement, and II Is from that statement that we
o. When did the idea Of this mode Of dealing with
this property nrst occur TO your A. When was was
nrst In right on although dad not give the order
@. Have YOU applied the same rule to the Harlem
and Hudson roadss A. To every road that | have
| d. Have you issued interest certificates for the
I Harlem roads A. No, sir.
Q: For the Hudson River road, A. No. sir; we
&: Has the property Of those roads increased in
'1u1 o. Have there not been net earnings applied to
construction therei a. Yes; and they VIII eventu-
/ ally 60 to the stockholders.
| Q. Ii there any reason why interest certificates
l n Mt stockholders
lem as well as T. those q the Central r0ad'%A. We
are not %h1 IN nd position = 70 a 40 not M 40 bo road
small thing, with little capital Of only About
q su DSp ns Yss S1 as s ao
this until was satisfied that 1t was all right and
that the road could not be injured BY IL; the stock
when they will get the benefit OF all the other pro-
perty; do not wa9t to cramp the real estate nany
the Harlem road just as though it ali belonged to
me, And that Is the way shall control every other
road as long as control any as though 1t al belonged
/ to me.
| Q. Is 1t your intention to deal in the Same way
| with the Harlem and the Hudson River roadsf A.
| Yes, whenever they will bear 1t.
@. There have been net earnings applied to con-
stfdCtlOH on both the r0adsY A. Yes; and there Is
And i You know Of Of no no reason why L should be
done in regard 70 the Central different fron any
other roadf A. None at all
issue such certificates made known to the publicp A.
Made known to the public.l made known TO agang
| y thieves and robbers In Wall street, that Is the
Off to what period did you keep the secrets
| Q. Why was It done at nights A. Because we
could not do II y Il the day; the people were not
here; number Of directors were not mere.
q day meetnga A. lot at that time; we never
made up our mind to this until very late Friday,
actly how it should be done, and then one or our
principal directors was up the road, and could not
nsas did get ann hss G1 naa sasdsy nst
Z. Did you telegraph to aim what You wanted
there was to come.
O. How many OF the directors Of the road knew OF
10th Of DecembcrS A. do not know that anybody
knew 1t except Mr.. Clark, Mr. Chaplin and myself;
do not know that anybody else did; it was because
q win you state whether you did or not intention
ally conceal this from the other drectorsY A. We
did not know ourselves what we were going to do;
we were working up the figures 10 see what It would
work to- and when we came to that point decided
to call our directors together.
q. How many OF the directors previous to the &C
5er had any intlmatcn that such course e. was in
tended A. That, cannot say; never told any OF
them. IL.
sides this committee.
q. When was that committee appOinted2 A. In
q. When that committee was appointed was not
investigate and devise means s sas
q. What matteri A. OF giving the stockholders
O. At thai tune the board knew that such thing
was contemplated A. Yes
o. Every member OF the DoardS A. All that were
there.
O. who were absents A. do not know; do
not remember ut any time what directors are there
and what not; there nothing secret about it,
II was In fun board
@ Had any OF the directors OF the company been
ledge; there were numoer OF them spectators In
stocks before this butt said "You snant speculate
on u.s." did not myself know In the morning what
we would do at night. because we had not got the
figures.
held at Mr.. Carks houssi A. There was no partcu-
lar reason; they happened there went there TO tell
him that would come up tho next evening II he
was one reason; IL wasa mere accident; IL 1t had
been at my house it wouk have been there; 1t was a
Q. VINO devised the form Of these interest certin-
catess A. Myself and MI CLARK; gave him the
O. How long before the nrm was written outS A.
number OF days; we chaaged y every day.
| O. Did you see IL ptnt at the meeting on the
0. Were any Of them sigIpdf A. Not to my know
ledge; after the meeting vas over got up and
@ where is the ONCE Of re com pany, A. In Al
Q. Are any portion Of It's bsoks kept in New York
A. think not; there is a cos OF the transfer book
here, but nothing else that know Of; we fro
quently called meetings In Ne< York, and when we
did we let the secretary and treasurer come down
with the books.
q Are there any bylaws Of mo company A. Yes.
q Where are theyY A. The are In the Office at
Albany, presume.
@ Have you copy heref 4 No, sir.
O. Is there not copy In Nos York; A. That do
not know.
. wlii you produce copy A. have not got
any.
d WIN you give directions \ have It produced at
the same time with the other Iapers that you have
mentioned 7 A. Yes, sir.
U DO You know whether III company has ever
borrowed money to pay Its divcndss A. Not since
| have been In Il, ana II never WI.
u DO you know whether tn company has fre
quently applied TO the Legislature for authority TO
increase the charge TO passenfsrs. A. Not since
have been In.
O. DO you know whether It IS previously done
SO A. Only from henraaX. |.