New-York tribune., 1873-01-07
A SORRY STORY.

we have what may be considered the whole
story of the Credit Moblier scandal. These
two men testified before O Committee of the
House of Representatives McComb first, and
Ames in rebuttal. There is marked contrast
in the characteristics of the two nara
tives; McComb's story is ingenious-if not
plain recital of faets-and is full of
points which are too aptly cOrrobOrated by
external evidence. Ames's testimony, which
was in a written document, is plea in
extenuation; it is parrying and defensive. II
would appear that the relation of certain
Congressman to the Credit Mobiher scheme
was effected in some such way as this: Ames
desired to place certain shares of the stock
where it would bring influence to the Union
Pacific Railroad enterprise then in feeble
condition. This stock, the exact amount OF
which is in dispute, was set apart to Ames,
with the understanding that he was to
use it at discretion. McCOmb was asked to
sign a paper agreeing to this transaction; he
at first refused, but subsequently signed a
paper which he did not read. Out of that
transaction grew dispute about the DISPOSE
ton of the stock. McCOmb says he did not
approve of placing it among Congressman
without a fair equivalent in money. Ames
says he did place the stock; but he is not
sure how many Congressman agreed to take
! it and (as he expresses it) postpone payment.
| But that the stock was distributed among Con-
gressmen there is now no dispute. Ames, who
placed the shares. used every argument to per-
suade members that it was a fine investment.
! McComb saws that the stock was held by Ames
" in trust" for the investors in many instances,
and that the investors did not generally pay
cash down forit; but they let it remain in Ames's
| hands until the dividends accumulated enough
to meet the cost price of the shares. This
view of the transaction is not cOntroverted
! by Ames. For instance, in the case
of Speaker Colfax, Mr.. Ames says: 81
know he (0ir. COlfax) wanted to get some
" stock, and | am pretty confident he has paid
" me for it, though it was never transferred
" to him, nor can | remember having PAID
over to him any dividends" In these gen.
| eral particulars, then, the tales of Ames and
| McComb agree From his point Of view Mr..
! Ames saw no wrong in disposing of the stock
among Congressman. To quote bis own Ian
guage: "I intended nothing that ought to
brand me with disgrace" 1t should be OBJ
served that only in a few particulars do Ames
and McComb disagree as to the equivalent
which the Congressman rendered for the stock
which they received.
We come next to the the exact disposition
of stock among COngIessmen. The penclled
memorandum on the Ames letter. so often
referred to, gave the list of names to which
the shares were allotted by Ames. That MEM
orandum was written by McCOmb while Ames
read the names from his own private men,
oranda. There is some dispute about this as
Ames positively denies debating names" to
McComb. But McCOmb does not pretend that
Ames dictated anything; on the contrary,
he leaves the impression that he made
the memorandum furtively and rapidly while
Ames was reading the list aloud, without any
suspicion that a copy was being made. Further,
McComb declares that there were some allOt-
ments of stock which were not in that list;
| and some that were there were afterward
changed. For orinstance, he says that certain stock
which he (NlcComb) had solicited for Senator
Bayard was afterward according to Ames)
given to Senator COnkling. There is also some
confusion as to several other names; and
there is a decided agreement as to several,
Senator Wilson's being one on which both
agree.
As to the points upon which Ames and
McComb decidedly take issue, further evil
dence must be required For instance, while
both substantially agree that Senator Bayard
had stock offered him, Ames denies point
blank that that stock was subsequently given
TO Senator COnkling as asserted by McCOmb.
Indeed, it is evident that the only question
now remaining to be settled is, Who cor
ruptly obtained Credit Mobilier stock 7
At this stage of the proceedings it
would be unfair to do anything more than
point to the testimony and endeavor to eluci-
date the obscure or conflicting points therein.
1t is a matter for profound regret that some
of the gentlemen who have heretofore made
| such broad assertions of their utter freedom
from all complications with the Credit
Mobilier scheme should so soon be
obliged to face positive evidence to
the contrary from both sides of this
unhappy case. 1t is likely that q
stronger attempt than that of Mr.. Alleys
in the Committee will be made to invalidate
McCOmb's testimony. Whether this be sue
cessful or not land invalidation is only neces-
sary so far as the details are cOncerned) the
main facts are already established. With
real sorrow, we must admit that both Ames's
and McCOmbs sworn testimony show
that Credit Mobilier stock has been used
cOrruptly in Congress, knowingly, successfully
and more generally than many have believed.
That it was used to influence legislation we
may believe, even though we may not receive
the story of McComb that Ames pointed to one
of the rulings Of the Speaker as an evidence
of the persuasive influence of Credit Mobilier
stock in Congress. But we exhort everybody
to read the evidence for himself, and to note
what follows.
VHO NEXTf