The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1873-01-15
THE CREDIT MOBILIER.
Confirmation Of tho investigation,

THE CREDIT MOBILIER.
Continuation Of the Investigation.
10 the Credit Mobilier Committee to-
day, Chairman Poland decided that the
records Of the department asked for by
MIR. Brooks to show the character Of Nc
Comb, were foreign TO the investigation.
Nelson, Brooks son.in.law, testified |:
He borrowed 5000 Of Dillon after six
months acquaintance, and without any
previous business transaction, giving Dill
Ion Union Pacific stock as security; was
told by Brooks that he was entitled to
fifty additional shares In tho Credit Mo-
bilier.
STATEMENT OF Mr.. GARFIELD.
The first I ever heard ofithe Credit
MObilier was some time in 1856 or 1857.
I cannot fix the date when Geo. Francis
Train called on me and said he was
organizing a company to be known as
the Credit Mobilier of America, to be
formed after the Credit Mobilierof France;
that the object was to purchase lands and
build houses along the line Of the Pacific
railroad, OF points where cities and vii
lagos were likely to spring up; that he
had no doubt that money thus invested
would double or treble itself each year;
that the subscriptions were limited to
81, 200 each, and he wished me to sub
scribe. He showed me q long list OF
subscribers, among them 0akes Ames, TO
whom he referred me for further
information concerning the enterprise,
l answered that l had no money to spare,
| II / had would not subscribe without
knowing more about the proposed organi-
zstion. Train lett, saying, that he
would hold the place open for me, and
hoped would yet conclude to subscribe.
The same day l asked Ames what he
thought OF the enterprise; he expressed
the opinion that the investment would be
safe and profitable. heard nothing fur
ther on the subject for year or more,
and 1t was almost forgotten, when some
time after, l should say during the long
session OF 1868, Ames spoke OF 1t again.
He said the company had organized and
was doing well, and he thought would
soon pay large dividends. BE said that
some Of the stock had been left, or was to
be left lin his hands TO sell, and could
take the amount which Train had offered
by paying $1,000 and accrued interest. he
said that II was not able to pay for II
then he would hold it for me until ]
could pay, or until some OF the dividends
were payable. l told him ! would con-
slider the matter, but would not sgree to
take any stock until I knew from an ex,
animation of the charter and conditions
Of the subscriptions, to what extent
should become pecuniary liable. he said
he was not sure, but thought stock
holder would be liable only for the pal
value OF his stock. That he had not the
stock and papers with him, but would
have them after while. From the case al
presented, I probably should have taken
the stock II had been satisfied in .regart
to the extent of the pecuniayy liability
Thus the matter rested for some time,
think until the following year. During
that time understood the dividends dut
amounted to nearly three times the pal
value Of the stock, but in the meantime
had heard that the company was involv
ed in some controversy with the Pacific
Railroad, that Ames might see to the
stock, was denied; when / next saw Anne:
I told him l had concluded not to take
the stock, then the matter ended with the
company so far IS was concerned, and
had no further knowledge Of the com.
pany's operations till the subject began
TO be discussed in the newspapers lasttall
nothing was ever said to me by Train OF
Ames TO indicate or implicate that tht
Credit Mobilier was or could be in any
way connected with the legislation in
Congress for the Pacific Railroad or fol-
any other purpose. .Ames never gave OF
: offered to me any stock or other valuable
thing as a gilt; once asked and obtained
from him and afterwards repait
to him loan of $500. That amount Il
the only valuable thing l ever received
from or delivered to him. I never owned
received, or agreed to receive, any stocf
Of the Credit Mobilier or Of the Unior
Pacific Railroad, nor any dividends o
profits arising from either OF them.
Benjamin F. Ham, Treasurer OF tn.
: Credit Mobilier, was sworn, and under
went long examination. He testifet
that Neilson's name appeared on tn
books as the holder Of one hundred ant
fifty shsres. Did not know OF Brook
having anything to do with the shares
Ham produced several books Of the com
! pauy, and said the rest had been sent her
by express. He pointed out in the book
where Durant transferred enc hundret
8 shares 10 Nelson, Ames paid for all tn
8 stock In his name. There was no trus
tee. There was only enc dividend o
: 0 per cent ever paid by the Credit Mobiliel
! The only letter book Of Credit the Mobile
! showed neither names OF Dawes, Gar
!. field, Scofield nor Kelley. Han could no
y kexplain how stock appeared in Nelson
: name before he paid for It. His book
J, showed the names OF Congressman Sam
r Hooper and Boyer Of Pa, and ..Grime
r and Alley as original subscribers. II
!. stated Credit Mobilier stock was rushe
Q around the country to keep 1t out Of tn
hands Of Jim Fisk. He knew nothing 9
|, shares set apart to be used among Cor
y gressmen. Credit MobiIer bought tn
! bonds which they gave as dividends, fror
: the Union Pacific Railroad at IS cent
Q and paid Tor them out OF money whic
o they received from the new subscriber
No officer OF the company has right I
o put up stock for sale. Witness migt
have received special instructions fror
10 the officers Of the company. Part oflth
= books were kept travelling TO prevent pei
y pie seeing them who had no interest
OF them, but they were not travelling mo-
= as Jim Fisk Is dead. Ham denied tht
the public had any interest in the matte
ct 1t Is only a few newspapers.
@. Doyou know what has become
the stock tralsierredG A. No, sir; 1t hs
disappeared.