New-York tribune., 1873-01-16
THE SECOND INVESTIGATION.


THE SECOND INVESTIGATION
TESTIMONY OF MR.. II. c. CRANE AND NIX. u o.
BUsHNELL-HIsToRY OF THE CREDIT MOD
LIER-How SENATOR THAYER WAS M
ELECTED.
GENERAL PRBss DsPATcHl
WASHINGTON, Jan. 15.-The Wilson Special
Committee resumed III o'clock this morning.
H. c. Crane was and testified that he was ASsS'
ant Treasurer OF the Credit Mobier until May oo' an"
was now stockhoder in that organization. uocu'
ment authenticated by affidavit was shown 10 the WIZ
II contained the names of those holding stoch "
the Union Pacific Railroad Company and Credit Mopniel
at the same tme together with the dividends "ltness
testified as to correctness OF the record had no
books or papers showing the dividends and aotmehS'
the action taken by the Credit Mobllier lndOrsnS anu
ratfyng the Ames contract Mr. Durant has copies ne
was made Assistant Treasurer and Secretary OF the Ao
trustees October 1867 at the meeting OF the trustees
a resolution passed to purchase the hrst hOrs"Eo
bonds of the Union Pacific Railroad, which the trustees
paid for al whatever price authorized the books OF
the trustees Of the Ames contract would snow "h"'
they bought where they obtained money, and all aoou'
the transactons witness showed that the dividends Oh
the Ames contract aggregated 5i5 per cent
III order afford the members opportunity 10 par
tcipae in the business OF the House, the Committee
took recess until o'clock At q o'clock the e1amna-
ton of Mr.. Crane was RESUMED as follows;
On the Goth OF January 1861 the capital stock OF tne
Credit Mober was increased fifty per cent, the III
creased stock being distributed to parties already inter
ested The dividend of twelve per cent for Two years
was declared o. 1863 and this dividend was on the
increased capital OF sJ75O,OO0
BY Mr.. Swann-What pressing necessity was there
for the increase tockl A. To raise money to con
struc the road and declare dividends he did not
know for whom Oakes Ames held in trust 3iS shares OF
Credit Mobier stock par and six months interest were
paid for them the stock transferred TO Ames by
Dillon who received 1t from Durant the transfers were
made on the sth and 2Oth of January, 1863
INTERESTING REVELATIONS FROM MR. BUSHNELL
Cornelius S. Bushnell of New-Haven being sworn
gave an account of his connection with the Union Pacific
Railroad having procured the first s2ooOOOO for building
road and also concise history OF the road from s
commencement TO its completion. The Company, he
said expects such increase OF business this year as TO
enable II to meet all legal obligations In answer 10
question by the Chairman, witness said the Northern
and Southern Pacific Railroads would interfere with the
business Of the Union Pacific, but the asnamed would
make up in mineral and other developments OF the
country what 1t would lose by the competing roads he
never heard OF any money being used to influence mem
bers Of Congress; he had recollection Of where member
OF Congress came in give counsel but II was not at
the instance OF either the Pacific Railroad
Company or the Credit Mobier, did he know that
any such member received fee; his impression
was that in the year 1867 Mr. Alley brought in member
of Congress as his counsel Mr.. McComb at the same
time brought in Judge Black; the counsel OF Mr. Alley
was now III Congress Gen. Butler), but the witness
thought that this year before Gen. Butler was
elected to the House Of Representatives. witness did
not know Of any money being given directly or indi
recty Of any land grants or accepances TO Senator
Harlan Mr.. Durant informed witness that he was going
to assist Senator Harlan in being elected Senator by ss
tanning Iowa newspapers in his INTEREST," this
prior l37O impression that Harlan was at
that time Secretary of the Interior.
Witness asked whether any Senator Representa-
tive had been elected with the aid OF funds from the
Union Pacific Credit Mober Companies, 70 which he
replied himself he had always literally subscribed
for general political purposes and his impression was
that in one instance he contributed 5000 to Senator
Thayer which money drawn by draft him; he
thought this in the Nebraska State election Of 1870
when Thayer was candidate for reelection; Thayer
a friend Of witness, and in giving the money he
thought it might aid in securing his Thayer's) reeec
tion; witness did not remember OF ever having made
any other contribution for anybody for similar case;
did not think he had ever made such large
contribution before; he generally gave $1,000 or
$500 for electioneering purposes, just as be
would pay taxes; every man must do some
thing to the country laughterl; witness never
heard Of any of the trustees having given money or
bonds to influence the election of members OF Congress
il this had been he in a position to know the
fact he signed paper authorizing oakes Ames to de-
liver two hundred and odd shares Of Credit Mober
stock certain members OF Congress Mr.. Ames had in
formed him that he had disposed of that amount Of
stock, and the members expected him to fulfill his
engagements; heard Ames he would place the
stock where would be Of good but that it would
be bad policy To break his engagements, and witness
also thought witness surprised that while gem
should be willing to take the stock at 9 they had
not the moral courage to say they did when was
worth from 200 to 800 per cent
The Committee, at o'clock, adjourned till 7:9O O'Clock
The Wilson Committee reassembed at o'clock and
Thomas c. Durant and interrogated regard
ing matters connected with the construction OF the
Union Pacific Railroad. The examination elaborate
and minute the witness answering many OF the ques-
tons after reference TO the books of the Union Pacific
and Credit M0biler.