New-York tribune., 1873-02-19


purchase more Cedar Rapids bonds whom Mr. Ames sug-
eested that he should purchase some Credit Mobiier
stock and explained generally that was contracting
company 10 build the Uaion Pacific road that
as IL was Pennsylvania corporation he would
like to have Pennsylvanian in it; that he would
sell IL 10 him at par and interest and that he would
guarantee should get per cent II Mr. Scofeld would
give him half the dividends above that. Mr. Scoheld
said he thought he would take 81 coo of the stock but
before anything further done Mr. Scoeld was called
home by sickness in his family On his return, In the
latter part OF January 1885, he spoke to Mr. Ames about
the stock, when Mr.. Ames said he thought it was all
sold but he would take his money and give him
receipt and get the stock for him II he
could Mr.. sconeld therefore paid Mr.. Ames
O and took his receipt therefor Not long after Mr.
Amesinformed Mr. scofed he could have the stock, but
could give him certificate for it until he could get
larger certificate dividend. Mr. scOneld received the
bond dividend of so per cent, which payable Jan
1865 taking bond for 81 900, and paying Mr.. Ames the
difference Mr. Ames received the 60 per cent cash
dividend on the stock in June 1863 and paid over TO
Mr.. scoaed $500. the amount of it, Before the close OF
that session Of Congress- which toward the end OF
July Mr.. ScOheld became for some reason dis
inclined to take the stock, and settle
ment was made between them by which
Mr. Ames was to retain the Credit Mobilier
stock and Mr. scoheld took $1,000 Union Pacific stock
The precise basis of the settlement does not appear
Mr. Ames Mr.. Scoheld having any full data
in reference TO it, Mr. scodeld thinks that he only re-
ceved back his money and interest upon IT, while Mr.
Ames states that he thinks Mr. Scoed had 10 shares OF
Union Pacific stock in addition The Committee do not
deem II specially important to settle this difference OF
recoectons. Since that settlement Mr.. scofeld has
had no interest the Cr6duMobier stock and derived
no benefit therefrom.
MR.. JOHN A. BINGHAM OF OHIO.
In December, 1861 Mr.. Ames advised Mr.. Bingham TO
invest in the stock of the Credit Mobilier assuring him
that It would return him his money with profitable dyi-
dend Mr. Bingham agreed TO take 20 shares and about
Feb l. 1863 paid to Mr. Ames the par value Of the stock
for which Mr.. Ames executed TO blm some receipt or
agreement. Mr. Ames received all tho dividends
on the stock or money. Some were delivered
TO Mr. Bingham and some retained by Mr.. Ames: The
matter was not finally adjusted between them unl feD
the so shares OF Credit MOber stock and accounting TO
Mr. Bingham for such dividends upon it as Mr. Bingham
had not already received Mr. Bingham was treated as
the real owner of the stock from the time OF the agree
FEBRUARY 1872 and had tine benefit of all the dividends
upon it, Neither Mr.. Ames nor Mr.. Bingham had such
records Of their deaGR TO be able to give the precise
amount of these diydends.
MR.. WILLIAM d. KELLEY OF PENNSYLVANIA.
They hnd from the evidence that in the early
part Of the Second Session OF the XLh Congress, aud
probably in December. 1867, Mr. Ames agreed with Mr.
Kelley to sell him 10 shares of Cr6lt Mober stock at
par and interest from July 1, 1867 Mr.. Kelley was not
then prepared TO pay for the stock and Mr. Ames agreed
10 carry the stock him until he could for it. On
the Sd day of January, 1863 there advdend OF 80
per Credit Mobier stock in Union Pacific bonds
Mr. Ames received the bonds the stock stood IN his
name and sold them for ~ cent OF their face. In
June 1868, there a cash dividend of GO per cent,
which Mr.. Ames also received. The proceeds or the
bonds sold and the cash dividend received by Mr. Ames
amounted 10 $36 The par value of the stock ana IN
teret thereon from the previous July amounted 10 sC
so that after paying for the stock there balance Of
dividends due Mr. Kelley of 1929. On the 23d day of
june 1865, Mr. Ames gave Mr. Kelley check for that
sentatyes and Mr. Kelley received the money thereon.
The Committee lind that Mr. Kelley then under
stood that the money he thus received was
balance OF dividends due him after paying for the
stock. All the subsequent dividends upon the stock
we're al received from Mr.. Ames In September, 1865
Mt. Kelley received from Mr, Ahes ToV-the money
which understood between them to be an advance
paid ont Of dividends There has never been any
adjustment of the matter between them and there Is now
an entire variance IN the tesumony OF the TWO men
as what the transaction between them was; but the
stated The evidence reported to the House gives
subsequent conversations and negotiations between Mr.
Kelley and MIR. Ames on this subject. Tie Committee
do not deem material 10 refer to 1t IN their report
Mr.. JAMES A. GARFIELD OF OHIO.
The facts in regard to Mr. Garfield, found by the
Committee identical with the of Mr. Kelley to
the point of reception of the check for 1922 He agreed
with Mr. Ames TO take ten shares Of Credit Mobiier
stock but did not pay the Mr.. Ames received
the so per cent dividend in bonds and sold them for 81
per cent and also received the per cash dividend
which, together with the price of the stock and interest
left balance Of 500. This sum was paid over to
Mr. Carried by a check the SergeantatArms.
Nj Ames received all the subsequent dividends and
the Committee DO not find that since the payment OF the
S329 there has been any communication between Mr..
Ames and Mr. arfcld on the subject until this invest
cation began. Some correspondence between Mr. Gar
field and Mr.. Ames, and some conversation between
during this investigation will be found in the re-
ported testimony.
NO CORRUPT MOTIVES IN PURCHASING THE STOCK.
The Committee do find that Mr.. Ames, in his nego
aOns with the parties above named entered into any
detail Of the relations between the Credit Mobier Com
pany and the Union Pacific Company gave them any
specific information as the of dividends they
would be likely TO receive, further than has already
been stated They all knew, from him or otherwise that
the Credit Moblier contracting company To build
them knew that the profits dividends to be in
stock or bonds of that Company The Credit Moblier
was a state corporation, not subject TO Congress
legislation and the fact that its profits were expected
10 be derived from building the Union Pacific Railroad
did apparently create such interest in that Com
pany as 10 dsqualfy the holder OF Credit M0bilier
stock IRON parlcpalinS IN any LEGISLATION Affecting the
bers Of Congress Mr. Ames made suggestion that he
desired TO their favorable influence in Congress
ia favor OF the Railroad Company and whenever the
question was raised as to whether the ownership Of
or embarrass ithem in their action as MEM
bers Of Congress, he assured them 1T would
members Of the present House above named that they
OF the object OF Mr. Ames. or that they had
profitable investment It Is apparent that those who
advanced their money TO pay Tor their stock present
who did not, but the Committee do not feel at
liberty TO find any corrupt purpose or knowledge |
founded upon the fact OF nOn-payment alone. IL !
ought also TO be observed that those gentlemen who
surrendered their stock 10 Mr. Ames before there
any public excitement upon the subject do not profess
have done upon any idea OF improperly In holding
but affecting the value and security Of the
investment; but the Committee believe that they must
felt that there was something so ont OF the ordi
Of business IN the extraordinary dividends
they receiving TO render the investment |
itself suspicious and that this OF the |
motives OF their action. The Committee have not been
able md that any OF these members of Congress have
been affected In their official action in consequence OF
tIofr in haar
gested that the fact that Of this stock
ferred 20 those with whom Mr. Ames contracted, q
frO w "A