The Republican journal. [volume] (Belfast, Me.) 1829-current, 1873-02-06

have indicated that had something which
would implicate the Speaker in land
grants.
Q.-Do you think your controlling mo-
tive was for the public good or to catch
the Speaker?
Any object was to catch the Speaker
if he was involved in this road and | said
further that if the Speaker of the House
was engaged in such transactions it was
equal to dealing in Credit Mobilier Stock.
MIR. BLAINE's STATEMENT.
Mr.. Blaine was then sworn and made
the following statement:
The Iowa Falls and Sioux City r. r. is
about one hundred and eighty miles in
length. 1t was begun in 1869 and finish
ed in the Autumn of 1870. 1t never re-
ceived an acre Of land bv u direct act of
Congress. The State Of Iowa gave to the
Company the remnant of the old land
grant made to the State in 1856. amount
ing to tritie over 5000 acres to the mile.
The road was built by contracting COM
pany entirely for cash. The capital of the
contracting company was between SIX
and seven millions of dollars, and the
amount necessary tor building the road
was levied upon the stockholders Of the
company pro rata by direct assessment
The total assessments We're | think about
GO per cent of the whole or a shade over
four millions of dollars. In this contract
ing company my particular and highly
valued friends, Messrs. A. and 2. Cobnrn,
the wealthiest men in Maine and as good
men as ever lived took two hundred
thousand dollars, all within a period I
think Of Is months. The road thus was
finished TO the last rail and spike BY the
payment of cash down. When complet-
ed the company issued bonds on the road
for $4,000 per mile and stock to the
amount of S24,000 The bonds at the
time of the issue were worth $50 and the
stock about 500, so the contracting COM
pany got securities worth S27 600 per
mile in cash, when the construction of the
road had actually cost them about 1928 900
per mile cash in advance Their profit
was prospective in the anticipated use of
bonds and stock-a profit not yet realized.
MR.. BLAINE RouGHr HIS STOCK IN 1872
AND PAID CASH FOR 1T.
in January last, Just year ago III set
Ting up some business with the Messrs
Coburn | took from them p quantity of
stock Of this road for which paid about
90 in cash That was the first Of nv
ownership in The road. | hold the stock
in my own name, and the transaction is
one which Congress, in my judgment, is
no more called upon to investigate than
1t would be TO inquire into the weekly ex
penses OF my household But, at the
same time. | wish the Committee to un-
derstand that | make this explanation
without the slightest reluctance.
In answer to questions by Judge Poland
Mr.. Blaine testified that he never had a
dollars worth of interest in the road until
1872. The road was chartered by the
State, the land donated to it by the State,
and it was accountable to :he State, and it
could not possibly come before Congress
for anything.
Mr.. Blaine continued as follows
must say, with all due respect to Mr..
Stevenson's better judgment, | consider
an investigation INTO the weekly expenses
of my household as legitimate rs this
Judge Poland.-Do you know OF any
other member Of Congress interested in
the road ?
Mr.. Blaine.-Mr Ames says he j., and
F. A. Pike, formerly It colleague OF mine,
purchased so, 900 worth Of stock il it.
He acquired it in an honorable manner,
and paid the money for it,"
Question by Mr.. McCrarv.-Ias this
work any connection with the Union
Pacific r. r.
Ans.-Not the remotest in the world
No moro than il has v ith the RaItimore
x Ohio or the New York Central.
Mr. Blaine further testified that he
owned 5G7 shares, for which he paid So,
NOo and had ever Since been living in thr
hope that they would draw q dividend,
but mp to this time they had not Laugh-
ter.) He was not lucky in the railroad
business. Would like to he more.
Question by Mr Stevenson DO YOU
know how much the Cohurns invested?
Mr.. Blaine-It You want to put them
on investigation will send for them.
Q.-What was the nature If your tran
sactions with them
Ans.-Do you mean in regard to this
matter, or timber land in Maine, or coal
land in Pennsylvania If YOU would like
an interest in this railroad, Mr.. Steven
son, will sell it to You upon Il slight all
vance over what paid Oaughter.)
MIR. Stevenson.-Thank you, prefer to
wait until get out of Congress.
Mr.. Blaine.-Well, that,wiIl he on the
4th of March, (great laughter) and will
agree to take it off your hands when you
are ever reelected. (Renewed laughter
Mr.. Stevenson questioned Mr., Ames
and the latter testified that he sold some
bonds of the Sioux City Road to Mr..
Blaine. Thought he sold s. 900. but could
not remember
Mr.. Blaine to Mr.. Stevenson-Ask me
can tell you, I bought Sc, 900 worth OF
bonds from Ames and paid him 80 cents
on the dollar. At another time bought
think, Sl5, 900 worth in Boston from him
for which believe paid him 80 cents on
the dollar. That | believe was in the
winter Of 1870 or 1871 turned them in
to the Messrs. Coburn, partly at one price
and partly at another, none of them as
high rs 90 and some at S5 cents Nv
business with the Messrs. Coburn is very
large, embracing timber lands and coal
lands.
Judge Poland.-That is not germane to
what we are to inquire about
Mr.. Ames was further questioned by
Mr.. Stevenson and testified that Mr.. Alley
was interested with him (Ames) in the
Union Pacific Railroad as well as the
Credit Mobilier Thought Mr. Allison
was interested in the Sioux CITY and Iowa
Falls Road. Witness and Mr.. Alley We're
interested in other roads in Iowa, all OF
which he named at the request OF Mr.
Stevenson, and said is there anything else
You want to know?
Mr.. Stevenson-l have no personal in
terest. The Committee required me to
come here
Mr.. Ames-But the Committee did not
require you to 60 into all these things
outside of the resolution. | never knew
that it was q crime to build a railroad IN
til the investigation commenced, and am
not satisfied of it now.
SENATOR LOGAN's STATEMENT.
Judge Poland We'll we arc now through
with this part of the case. The name of
Senator Logan was mentioned day or
two ago and he is now here at my re-
quest to make a statement. Senator John
A. Logan was then sworn and testified as
follows:
| have seen the testimony of Mr. Ames
given before the Committee. | have moth
ing whatever to conceal in this transaction
so far as | am connected with it. Mr..