The New York herald., 1873-02-16

WASHINGTON Feb. Is, 1873.
The Committee on Ways and Means this morn
ing examined Edward King, President of the New
York Stock Exchange, relative to Judge Sherman's
claim and Mr.. Bassetts proposition. MIR. King
testified that he had been unable to
find the letter of Judge Sherman, here
tofore referred to, claiming $4,000 for
services IN Washington but that it is now in the
hands Of o gentleman in Brooklyn who has mislaid
It, and that as soon as it is found 1t will be pro-
duced before the committee. He presented to the
committee the report of the subcommittee of the
New York Stock Exchange, to which was referred
the claim OF Judge Sherman. The report which is
dated New York, January rs, 1872, says:-
That upon summOning witnesses hearing evid-
ence and giv1 the matter thorough investigation,
they could fpd no basis for valid claim by Judge
Sherman and from this the committee suggest the
propriety OF allowing the claimant, II he should so
elect, to appear before the committee a SUBJ
commlttee LOT the purpose OF proving or substan-
tiating such demand
In response to further questions as to any papers
or knowledge that he had on the subject under in
sHERMAN's LETTER.
Witness produced letter from Judge Sherman,
addressed to L. Lockwood Jr, and dated Judges
Rooms, United States Court for the Northern Dis
trict Of Ohio, March 81, 1872" The following is an
extract from the letter.
Last Summer, at the instance OF your father, /
attempted to get such construction placed upon
the revenue laws as would relieve the bankers and
brokers from the payment OF a heavy tax. There
was partial success, but such 4 bOasting
6atSer tS poncry was given to- it. tnat the attention
he forbid the order to be issued. There was then
no remedy but In Congress, and 80 suggested to
letter. On the authority and in consideration OF
what he said In it, went to work and had an
man, Chairman of the Senate Finance Committee,
with Mr.. Garfield and other prominent men,
bers OF Congress, and the result was that
1t became the policy OF the administration
TO repeal not only the tax in question,
but the stamp and other taxes think this
influences used by me; the taxes are not vet re-
peaed but they are certain to be within the next
sixty days; If your father were living there would
be no necessity for asking about IT. bat as the
agreement was made through him, / fear there
may arise Misunderstanding and there.
ascertain whether the "q" committee Of dhe the
Stock Exchange still recognize the contract. II
they do 1t is all right and will continue my labors.
Let me hear from you at your earliest convenience.
Please preserve the letter. Another thing-please
inquire what is the selling value Of the stock of the
Central Pacific Railroad OF California and let me
know. Yours truly, G. T. SHERMAN.
The witness was examined in regard to the off,
cial report of Colgate to the Stock Exchange
relative to the alleged proposition of Mr.. George
A. Bassett, clerk Of the Ways and Means Commit
tee, and said he had no knowledge whatever OF 1t
except from the report and from a casual conver-
sation with Mr.. Colgate and Mr.. Denney, President
OF the Stock Exchange such proposition was
never submitted to the Exchange or to the govern
ing committee of that body. which transacts all
the business. he asserted In the most positive
manner that no money had ever been used
with the authority or knowledge OF the Stock Ex-
change Tor any corrupt purposes In connection
with legislation, and that there Is general i'm
preston on the part Of the Exchange that valuable
legislation can be obtained in Washington by use
OF money He presented letter written by John
+. Denney, chairman Of the Law Committee of the
Exchange, dated February H. 1s73 aud
stating that Mr.. Colgate always had distinct
instructions that the Exchange would not consent
to any payments being made for corrupt purposes
and that II we could not succeed on the merits of
the case he was to use no other means No pay
ments have been made by the Bureau Of Claims
excepting Colgate's salary, which was TO cover all
expenses, either legal or otherwise, and two small
bills for stationery, &c, amounting to sl26.
The committee will resume the Investigation on
Monday, when 1t is expected Mr.. Denney, Chair
man OF the Law Committee of the New ork Stock
Exchange, and A. M. Baylis, Albert Coville and
Charles @. Chapman, the sub. committee OF the
Exchange, who had the claim or Judge Sherman in
charge, will be present as witnesses.