New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-03-23
THE COURTS.
TIE UNION PACIFIC RAILWAY SUIT.

Mr. Lambaid. afirmatory OF Mr.. Durant's affidavit.
rSo faese Railroad Co1rsp n ss br aud now f. Director aud
tie Treasurer hereof that deonut h,d reid Of hs shd.
that the @ atdsv best Of deponeuts kuowlegs, infer
,O' aud lsnL This 'dA'' was Subscribed aud sworn to Aa'h T.
Slaey niSq being tql spo. and Tl,. be :, D
esa, Of the Credit Mo1er Of America which corporation Organized
sid Credit Aobe America and has been the or
i ~ erpb G tb .g Credit Mbir Of America ba.
lad oRee branch Office At No. 20 Nu't in the City Of New
has 1t doue business that place ne that hme aud de-
assets Credit MOber fAmerea no 20
st. nths C Of Newio nor has there been sy 81 the same Tor sew
sff avs iblG he has Rn ri read the smGst Of T. H. wGcrs
made March 10 an, IN tbs a.n sd . ,.J ,,.
and without the shadow foundation point Of fact save on
t. rSs P i Railroad sd COMPANY are stock
holders the Credit Motr America deponeui further says hat Be
Is 1863 and DSan, 2Ob
Witch they refer that the Thomas baraut
exception ba ss rot present the time he U%ed States
Commissioner examined that portion Of tie road known the u and
respect verify believes d affidavit said Thoma, c.
RS the G ai sS GsPf 'sf
on the 9h d. Of MsT 1897 Or yse1 aay votes were , and a no
'Ps,t Of ,Ss s s1%s s o5g SIo , S ~ s'd Oe
Charles A. Lambar being duly sworn says. That he Is Director Of
Comrnny also stakeholder tbe Credit MOber Of
Aa b.. h, gsG oe T o. the 1 ~. % @ o e'
respectively March To- 1859 10 this action and the AFFIDAVIT Of
the contents every that the said adar
OfTbom Dnnt true within the knowledge Of this deponen e
the aud that to that part OF said
.eih,d and March a. 1869.
Mr.. Durant was then recalled and his testimony
tlnued He first corrected statement that the number
of teams employed 5000 or $780, not SO0 he had not
ecen the contract with James W. Davis since Davis lived
In Omaha he had tried 20 the books which would tell
him the Of his dividends, but the Sheriff had the
key OF the vault and lie could not the Union Pacific Rail
| road had never paid dividend. Q. Why not, II so
much money has been made on the contracts Question
objected to on the ground that this was question OF IN
tetion judge Barnard sad the scope OF the inquiry
whether money properly belonging to dividends had
not been turned over TO the Credit MoDer Tor division
among its stockholders. Objection Overrued) A. Be.
cause the road not completed. and profits had
! been made by II. q. The dividend made to the sub
scrhers 10 the contracting fund, that dividend
prohtsl lObjected to. Objection Oyerruledl A. The
Credit Mobiler made some profits as the agent Of Mr.
| Hoxc; tine Oakes-Ames contract was made in allot-
nent we co9IHC,s oi m tse trusts Is mat the pr2nts
are to be Tor the benet OF TIE sockh0der tie Cakes
Ames contract made in October 1867 witness did
cuted IL the trustees authorized It, subject TO tine appro
val OF the trustees work was commenced under that
TO he held for the benefit OF all the stockholders he
supposed 1t was made for all who Qssented
had paid up on their stock had received their aOments
except Brigham Young, aud he did not complain. The
assent Of the stockholders obtained after
they could be eeD he could not say how soon that
The allotment made in 1867; witness did not know
s2OoOO had been subscribed that had been paid for In
full cash; insiallmens had been called for for
they then passed resolution declaring the stock full
pad there was then no partially paid stock out except
were compelled To- pay ave per cent every six months;
witness thought tue Instruments came faster on the
this subscription tho last call had been made within
year. @ on what principle do you say then, that when
Mr. Fish subscribed, in 1867 for 10000 shares. the stock
! was tu.l paid A. At tho time Mr. Fish subscribed
the Board had called for but IS per cent, but the
stockholders who were not in default for that per cent
had voluntarily paid up their whole stock; there had
witness had himself at time subscribed FOR $loO0OO0.
s saG f 5ba credit obeT took soooSo witness had a
maj Of
Mobcr sold some Of lis stock the rest they had paid IN
! its own bonds; sometimes the Company paid for the
equipment OF the contractors II being stipulated that the
equipment should be such and SUCH they paid a sum in
cross per mile the contractors from $1,000 $4,000,
according the work; he could not say positively
Whether the part which they paid $4,000 that
part where tie United States allowed $1,000; portion Of
was: he could say whether all was; he thought
that sum was paid to tho 2i7tb miopost; the
! contracts were made according to the difficulties
| Of the road and engineering, and not with re-
| gard TO tie allowance from the Government;
some parts OF the road cost three four times the
Government allowance II had not been his intention 10
provide for the contract as to leave 10 .,.,, ,,r
the stockholders but the first mo. gage bonds and sinh
sidy WtiG Intended 70 be Coed Tor the establishment Of
the road ana were ipped 10 that purpose S30OOO OF
tire land grant bonds for the purpose por.
ton Of their first mortgage bonds were dcpoaited with
many locomotives disabled the largest number In
the shop 10 time was 10 He Thought 100 had been
| built. They receiving average Of 10
| locomotive q month and IL cars day. Some were
Detroit and Chicago and lie turned out four
day himself, mt Omaha; II was not to their interest To
have short Witness had made contracts for coal
with every man they could got contracts for 1900 5000
1900 uus they had taken coal from everybody they could
get from their present supply about months
supply; proposition was submitted 10 the Company
by some gentleman proposing to form Wyoming Coal
| Company, but IL had never come to any result he
knew Of no fnnd being set apart TO procure contracts or
could not speak for them some Members OF Congress
arc stockholders; Oakes Ames the only one he
could remember; he never knew and he would be likely
10 know II it were 80, Of any money being paid TO
procure legislation; he had never heard any discussion
the subject at the Board OF the Union Pacific; no
did not know Of any property this gng
the Company except what hypothecated for loans
they under charge OF special committee; the
Fourth National Bank had made loan he thought Of
about 100000 coaterals he did not know What col
witness knew they owed borrowed money; beyond the
collateral he dad not know OF dollar OF property except
what IN the safe Of which the sheriff had the key
lie supposed the books would show lie could not tell
Mr. Field asked the Court TO compel the witness 10 pro-
facts. Mr. Tracy and Mr. MacFarlan opposed the mo-
ton Judge Barnard thought the case was on all fours
with tie Erie case and, In that case he had examined
this question aud decided that books OF company could
be produced. and the ylcePresident Of the Company
that il Was bot shown that the books We're under lila
control lilo hal key of the safc he had been absent
most Of tho year and another officer was. aud ia, IN
Court held that he must consider Mr. Durant Vice.
President Of the ana s6ond direct him
produce the loanbook such book showed the loans
ns the nilotmens on the IoSe Ames. and Dayis con
tracts tho assent OF tho stockholders ana To whom INC
allotuents were delivered. and the trust deeds. The
Court then adjourned to p H., to permit them to be
produced.
AFTER RECEss-No BOOKS TO BE OBTAINED.
After the recess Mr.. Barlow produced an
affidavit OF Mr. Duranl, 10 the effect that lac had
down the Office TO comply with the order Of the Court
but that he found the safe locked and that could not
be unlocked except by combination only known To Mr.
Ham n clerk OF the Company, now In New-Jersey, be-
yond his urants) control Mr.. Dnrant was then placed
on the stand and testified that he had not seen tho Pres
the Company for three days he had not seen the
safe locked he Cwtness asked the Assistant Treasurer
for the books and the latter handed HIM the Key ho
asked him for the combination aud futile said ho
asked the Deputy Sheriff for IL, and asked generally