Evening star. [volume] (Washington, D.C.) 1854-1972, 1873-01-07
THE CONTINUED INVESTIGATION.
Open Session Of the Committee To-day.

The special committee of the House Of Repre-
sentatives TO inquire into the Credit Mobilier
charges resumed its session this morning.
Speaker Blaine. Vice President Colfax. oskes
Ames, Jonn b. Ally, and Ii. $. McComo being
among those present.
sTATENENrs or VICE PRESIDENT CoLFAx.
Mr.. ColfaN referred briefly To the charges
against him, and read the following statement
In explanation: IL had expected. after the
Speaker had testified, 1 would be the next Que
invited before this committee. But as this was
no, done 4 asked the committee on December
10th to be allowed to testify and that my testi
mony might he made public. l state explicitly
that ne one ever gave on offered 10 give me any
shares of stock in the Credit Mobilier or the
Union Pacific railroad 1 have never received
nor had rendered to me any dividends I'm cash,
stock or bombs accrtIing npon any stock
in either of said organizations, aud neither
Mr.. Ames nor any other person connected
with either of said organizations ever asked ms
to vote for or against amy measures affecting the
interests OF either, directly or remotely, 10
any personal official influence I'm their favor.
desire, however, to state all the circumstanceS,
through which probably my name came TO be n
sociated with this organization. Five years ago.
about the time of the holiday recess, was con-
versing on the floor OF the House with M.
Ames in regard to the Pacific railroad.
in favor Of the building of which I hal
made previously hundreds of public ada
dresses In the course OF this conversation he
asked me If j would not like to purchase some
stock i'm the Credit MObilier. Up to that time
knew nothing of Its capital or profits, and i'm
qured of him a. to It's objects and the value OF
its stock. As near as / can recall this converse
ton, after the lapse of 80 many years, was in
formed by him that il was illegally incorporated
company, composed of the principal stockhold-
ers OF the MON Pacific railroad, who Were
themselves building the road instead of letting q
10 contractors who always expected large profits
for them and their advances of money for sup
plies. told him. after his explanation, that IL
looked like a gotHl and safe investment for one OF
limited means, and that would he willing To
purchase twenty or thirty shares at a fair price
II had the money. But i added frankly that
could mot pay for them till twoor three months
afterwards, a. my housekeeping expenses in the
opening months OF the session were much larger
than the average. He replied that he wouLt
contract to sell me twenty shares at par, il
would i'm addition agree 10 pay interest until
final payment i inquired what per cent il
would pay, and lac replied that there had been
large dividends; but as the road was pushed
further into the interior the profits mi ht not be
80 large. though they would be very surely
muneratiye. The Union Pacific railroad hal
no legislation that i knew OF pending before
Congress at that time, nor did suppose
there could be any i'm the future, "a
the last amendment to their charter
authorizing the issue of first mortgage
bonds, which should have priority Of the gov
ernment lien, had been enacted in 1864.
three years before this conversation. Inferrng
that any questions arising under their charter
would be judicialiy settled, and supposing, at
any rate, that had the sanlSrigh TO purcha>e
this stock as to buy stock in a national bank
chartered by Congress, or in a mandatory. 4
told him that could agree to purchase twenty
"a
as l had the money. Some weeks or months ar
forwards, at the same session, / paid Mr. AM
about 500 IN cash on this contract Of purchase.
being all the money j had, but received NJ
dividend nor certificate of stock, i'm whole or in
part. MY impression is that he told me that on
or two dividends had been earned, but that they
were not in cash, and were as vet unadiusted
Certainly / did not receive any, and was not
offered any, in cash, or bonds, or stock, then OF
since. "A few weeks or mouths after this heard
a rumor that unpleasant controversies existed
sxsrS w prar
certain TO involve the organization i'm prolonged
litigation The very day I heard this rumor I
told Mr. c ames tnat no profits present or pres
that had never been during all my life plain
tiff or a defendant i'm a court of Justice; that /
must therefore recede entirely from the transac-
ton between MS. as ] did not want stock of any
kind on any terms that would make me a party
TO litigation. He assented to this. ana nothing
was said as to the money paid, nay anxiety being
not to get into law suit All these things oc-
Cured at the same session of Congress FIVE years
ago, which closed in the summer of 1858. The
next year, Or the year after, Mr.. Ames suspend
ed payment, i'm consequence, "a was said, OF
financial inyolments connected with the Pacific
railroad and his creditors gave him an extern
sion ON his liabilities But regretting his failnre
and its cause. I voluntarily told him to dismiss
from his mind the small amount of money
between U.S. suppose but for this he wouhi
have repaid the money 1 had paid hiIn.
i may repeat therefore that neither stock nor
bonds were given to me nor offered TO be given
to me, that never received a dollar i'm bordS.
stock, or money, as dividends, that did con-
tract 70 purchase twenty shares of stock in the
company at par and interest, bat that after par
tial pay ment Withdrew entirely from what Ire
garded as an incOmpleted contract to purchase
from repugnance to being involved in litigation,
and that instead Of being enriched by II one
thousand or twenty thousand dollars as IA,
been charged, am voluntarily out OF pocket
$500, and have been for nearly five years.
Mr.. Colfax then stated further that Mr..
Ames never paid him dollar or the value of a
dollar on any account whatever.
By Judge Peland-Nr. Ames never men,
toned any thing about other members having
stock, witness had made good many speeches
In favor Of the road, and on that account had
the conversation with MT. Ames alluded 10.
By Mr.. Merrick-Witness did not understand
the objects Of the credit mobilier until it was
explained by Mr.. Ames. Understood that the
principal stockholders OF the Union Pacific rail-
road were building the road instead of letting IL
out TO contractors who would charge enormous
profits for the risk they would run. Ii did not
strike witness that there was any moral WRONG
In the credit mobilier. -. .sHr.
EXAMINATION OF Mr.. JOHN B. ALLEY.
Judge Poland, the chairman of the committee
then announced that the examination OF Mr.
Mr.. John b. Alley said before beginning his
testimony he would like to say that he desired
the fullest investigation into an matters having
nected With the charges before the committee
1t seemed hard for men deserving no censIre.
but praise, to have their names involved on the
reeords Of TIE country chsreed With sct: which,
But every act and Circumstance, in his jude-
ment, established their innocence. The record
would show that Ames was h0unst, and that tie
@y OF stop thief" was raised by the Thieves
M: Alley then read q long history Of the
building Of the road, formation of the Credit
Ames be free from censure, but the American
people should build Q monument 10 his memorv.
In his statement he denounced Mr.. McComb.
man. Referring to the charge of fhe 1I..f