New-York tribune., 1873-01-20

operation, and shared in the profits. There were
but few of them and they paid only five per
cent OF their subscriptions. The parties wronged
were the Government and the holders of the first
mortgage bonds. The directors of the road
made the contract with Oakes Ames to build the
road, but before completing it had him sign a
transfer of it to the Credit Mobiler corporation
composed exclusively of these same directors and
the railroad stockholders. The directors and stock
holders therefore, bargained with themselves TO
build the road at nearly double the actual cost
of the work As directors of the road they took
its assets with one hand and transferred them to the
other, and then pocketed them in their capacity of
Credit Mobilier contractors. The profits this
corrupt transaction have not yet been definitely
certained but they were probably not less than
SS0OO0OO0. enough to have paid the Government for
all its loans to the Company.
In view of the developments already made people
begin to inquire whether Congress would not be
justified in passing an act authorizing the seizure
and sale of the road by the Government
for the benefit of itself and the holders
of the first mortgage bonds The stockholders
have no claim TO consideration. They got back
the per cent which they paid on their subscriptions
with profit of more than 1000 per cent. Another
question is asked, Where were the Government
directors when this Credit MObiier fraud was con-
summatedY They were charged with the duty OF
viglantly watching the interest of the United
States in the road. Not Of them protested when
these interests were seriously jeoparded if not sacr-
feed Were they paid for their silencei
The Hon. Aaron +. Perry, the attorney for the Gov
ernment before the Credit Mobilier Committee No.
q has got fairly started in that investigation, and
has shown an earnest desire to aid the Committee in
an honest and searching inquiry into the facts of the
pyt of IN fO detrlmpnt
Government interest in the Union Pacific Railroad.
1t has been thought by the Attoney-General that it
is essential to have the other attorney provided for
by Mr. Randalps resolution, resident of Washing
ton in order that he may have convenient access TO
the departments and the Government records at all
times and without the delay and expenses of jour
ney to the capital. He will. therefore, tomorrow,
offer the appointment to J. Aubley Ashton, promi
nent lawyer in this city, who was the Assistant At
torney-General under President johnson.
PROCEEDINGS IN THE FIRST COMMITTEE.
EXAMINATION OF Ex-CoNGREssMEN BOYER AND
WILSON, COMMODORE c. X. GARRISON AND
G. w. KENNEDY.
GENERAL PRESS DIsPATCHl
WAsINGToN, Jan. 1S.-Judge Poland's Special
Committee TO inquire into the Credit Mobier charges
resumed its session this morning, and Benjamin NJ.
Boyer ex-member of Congress from Pennsylvania, be-
ing sworn, made the following statement:
STATEMENT OF Ex-CoNGREssMAN BOYER.
appear voluntarily before the Committee without a
summons because have been mentioned in the testi-
mony as the Of stock in the Credit Mober while
1 was a member OF Congress. desire that may be
examined in relation 10 my purchase OF that stock
have nothing to conceal concerning H. took the stock
in my own name, and have held it, as the books viii
show. held rs shares my own, and 25 shares as
trustee for my wife, making 100 shares in all. always
regarded il legitimate stock operation, and never
denied having made the investment II did not inter
fere with my duties member Of Congress. entered
Congress and retired four years afterward. Dur
ing that time neither the Credit Mober the Union
Pacific Railroad required any legislation by Congress
that know Of The land grants and subsidies to the
Union Pacific Railroad had all been voted before be-
came member of Congress- and the legislation relating
TO the posponement Of the payment Of the interest
the Government bonds took place after had left Con
gress. not conscious Of ever having voted while
in Congress for anymeasure in the interest of either the
Credit Mobilier the Union Pacific Railroad / invite
the most critical examination of my record The invest
ment in Credit MObiier stock recommended TO me
by Dr. Thomas c. Durant who was my personal friend,
and with whom agreed for the purchase of 100 shares at
par at time when the Of the enterprise and the
profits dependent thereupon were by no means certain
This was in the Winter OF 1866. The stock not
actually transferred TO me until long after L had
agreed to take it. There difficulty and
delay in obtaining all had agreed TO take. AT first
rs shares were paid for and transferred to me
in December, 1867, and some time afterward the
additional 25 shares, which j had transferred
to me as a trustee for my wife. This com
pleted the original contract between DR.. Durant and
myself and had no idea Of wrong in the matter do
see how 1t the public No connected with
either the Credit MObllier the Union Pacific Railroad
ever directly indirectly, In any way hnted that
my services member Of Congress were expected in
behalf Of either corporation in consideration OF the stock
obtained, and certainly no such services were ever
rendered; much less embarrassed as member of
Congress by the ownership of Credit Mober stock than
I should have been had / owned stock in a national
hank or in an iron furnace wooden mill,
holder of Government bonds for there important
legislation while in Congress affecting all these
interests but legislation whatever concerning the
Credit Mobiier. / can therefore, find nothing in my
conduct in that regard TO regret IL was in my judg
ment both honest and norabeEandEconsistent with
my position as member OF Congress, and The invest
turned out to be profitable, my only regret Is That
ft was no larger in amount.
To Mr. Herrick-Left Congress in 1869 never voted to
smother any Investigation the affairs of the Union
Pacific Railway.
TESTIMONY OF THE HON. J. F. WILSON.
James f. Wilson OF Iowa sworn and testified as
follows once bought and pad for three shares OF the
capital stock Of the Credit Mobier of America; the par
value OF the shares 800 cash. In all 81 900 the pur
chase Of this stock about in this way when Mr..
Oakes Ames was soliciting subscriptions to the stock Of
said Company he asked TO subscribe for 5000 Of it,
which 1 declined ITO do heard nothing more Of this
stock until time in the year 1868 the exact time
cannot sate certainly not earlier than May when
metkn this city Mr.. II. s. McComb, with whom had
been acquainted for several years. and against whose
character had never heard any reproach who during
conversation had between us, asked me If held any
Credit Mobilier stock told him that did not that
Mr. Ames asked to subscribe for 5000 Of It,
hut that had declined the offer; Mr.. McComb replied