New-York tribune., 1873-01-07
TESTIMONY OF COL. Fl. s. McCOMB.

Henry s. McComb sworn and examined:
BY the Charman-State to the Committee what
knowledge OF information YOU have in regard TO
shares of Credit Mobiher stock disposed of by Mr.
Ames to members of COngreSsf A. If the Commit
tee please would prefer to have them ask me ques-
tions and let me give direct answers; / have with
me my sworn testimony in the suit which has been
instituted on this subject, which, if the Committee
desire to refer to- will give them all the information
Ihave.
O. / see that you Estate in this testimony in your
examination in brief that S5 shares of the Credit
Mobilier stock were put in the control of Oakes
Ames. and were given to members of Congress ;
the question was then asked, where did you gain
your information enabling you to make that precise
answer and the answer given here is: from Oakes
Ames. Witness-Yes, SIR and / repeat that an
sweT.
O. Are you a stockholder in this Credit Mobilier
Company of America A. am.
O. Were you connected with it otherwise than as
Rstocholder and are you familiar with its history
aud proceedingsl A. l have been connected as
stockhoder only. not as a director or manager;
was familiar with it's proceedings until the present
officers took position since which time everything
has been kept secret and have never been able to
see the books ascertain what has been going on
when speak of the present officers, Irefer to Sidney
Dillon. President, and John B. Alley of the Execu-
tive Committee; have never been able TO get any
thing ont of them as to the management of the
Company in any way or manner; the books are al
ways withheld from my personal examination.
q. Was Oakes Ames a member of that Company
A. He was a stOckhOlder.
Q. Was he an oficer7 A. He was never an officer
but was an intimate friend of all the officers and all
concerned.
O. There is a litigation pendng now in the Courts
Il.
reference TO your right to certain shares in this Com
panyf A. Yes Sir; a suit commenced four years
ago.
Q. You claim TO be entitled TO 375 shares A.
Yes, Sir to go of the original shares with the accre
tions or increase which would make 375 shares.
Q. That suit is in your favor A. Yes Sir.
q. Who are the defendants in that suit A. The
defendants are the stockholders, managers, and
corporation of the Credit MObilier and Oakes Ames
and John B. Alley.
HISTORY OF THE CREDIT MoBIIIER.
@. Are you acquainted with the history of this
corporation known as the Credit Mobilier Company
OF Americai A. Yes, Sir, am acquainted with ITS
history up to the time spoke of.
Q. BY what authority was the Company chartered
A. The Credit Mobilier corporation was the result
of a charter obtained by named Duff Green,
from the Pennsylvania Legislature, called the
Pennsylvania Fiscal Agency :" il was subsequently
changed by legislative enactment to the Credit
Mobilier of America and some little change made
in its provisions; il was purchased by Thomas C..
Durant from man in Pennsylvania named Hall,
and George Francis Train; it was purchased
specially with a view of building the Pacific Rail-
road the Pennsylvania Legislature made an amend
ment in the charter allowing branch office to be in
Hew-York. and providing that it should be managed
by what was called a railway bureau all of whom
,,aad, had of COmDany.
Q. Do you know the organization OF tins Credit
MobiIer Company, whether il was managed IN The
interest Of and managed by persons connected with
the Pacific Railroad A. Ii was obtained with that
view.
O. Can you state what use they made OF TINS Credit
Mobflisr Company, and the relation it held to the
Pacific Railroad A. Yes, for the idea OF Inc organ
ization was TO relieve the directors and shareholders
Of the Union Pacific Railroad Company from any IN,
dyidual responsibility in building the road ana
enable them to share the profits in building the
Dni~s Poetic Railroad that was the design II was