Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-01-08
that the shares received by Wilson and Al
lson were paid for by those gentlemen.
John B. Alleys Testimony.


lson were paid for by those gentlemen.
John B. Alleys Testimony.
John B. Alley testified that he never had
any conversation with Brooks relative to
shares. Never gave or sold shares of stock
of the Credit Mobilier to Brooks, or to any
member. The statement of McComb is a
Fabrication. Alley thea went into a
heightened history Of the first starting of
subscriptions for the credit Mobilier. He
stated that it was only upon the most earn
est solicitations of Oakes Ames that he
(AlIey) was prevailed to take the step, and
at the start to invest $4,000 in it. Alley
continued, saying that Ames also persuad-
ed Senator Grimes and Congressman
Hooper to take stock at the same time, and
there was not the least suspicion that there
was any corruptiCa in it. Ames, himself,
| put in 100000 After the election of di-
re- tors of the Credit Moolier Company,
| they found $50 shares standing in the
name of Chas. G. Durant not paid for, and
upon inquiring Durant gave evasive an
sWers, and be was told they must be paid
| or sold for the benefit of the company.
Trouble ensued with Durant. He was
turned out of Office, snd Alley and his
| friends obtained control. These $50 shares
were carried along, Ames making every ef-
| fcrt to sell them.
Alleys further statement appeared to
show that Ames induced Wilson to invest
two thousand dollars of his wifes money,
the proceeds of presents to Mrs. Wilson on
| their silver wedding; but upon reports be-
| ing circulated which seemed to cast shade
| Of improperly upon the transaction, VIII
son insisted upon their being taken back.
| Alley gave a statement relative 10 the man
ner in which Dawes became possessed of
| some shares, but which he gave back to
Ames ON learning that there was TO be
suit. Also that, although Boutwell, bad
| conversed with Alley and Ames about tax
| ing ten shares, he did not take any of the
stock, and never had anything to do with
| it. Alleys testimony also shows that SEQ
| field pursued similar course to Boutwell,.
| This concluded Alleys testimony, and the
committee then adjourned to the 7th Of
January.
Yesferdny-Vice President COIEax on
the Stand.
| The Credit Mobilier Committee resumed
| Investigation this morning. Mr.. ColfsX,
after a brief preliminary statement, was
sworn and gave his testimony in written
form as follows:
had expected after the Speaker had tes-
titled, would be the next one invited be-
fore this Committee, on Dec. l6, to be al
lowed to testify, and that my testimony
| might be made public. l state explicitly
that none ever gave, or offered to give me,
any share of stock in the Credit MoOilier or
the Union Pacific railroad. l have never
received, nor had rendered to me, any divi-
dends in cash, stock or bonds accruing up
on any stock in either Of said organizations,
and neither Mr.. Ames nor any other person
connected with either Of said organizations
ever asked me to vote for or against any
measures affecting the interests of either, di-
rectly or remotely, or to use any personal or
official influence in their favor. l desire,
however, to state all the circumstances
through which probably my name came to
be associated with this organization. Five
years ago, about the time of the holiday re-
cess, l was converting on the floor of the
House with Hr. AmeS in regard to the Pa
cifc Railroad, in favor Of lui ding which
| had previoL sly made hundreds Of public
addresses. In the course of this
conversation he asked me if
would not like to purchase some
stock in the Credit MObilier. Up to that
time / knew nothing of its capital or profits,
aHd | enquired Of him as TO lis objects and
the value Of its stock. As near as | can
recall This conversation after the lapse of so
msnF years, was informed by him that it
was a legally incorporated company, COM
posed Of the principal stockholders of the
Union Pacific Railroad, who were them
selves building the road, instead Of letting
it out to contractors, who always expected
largo motifs fN- thni- -, 80 "av' zoos cf
money for supplies. told him, after his
explanation, that it looked like good and
safe investment for one of limited means,
and l would be willing to purchase twenty
or thirty shares at a fair price if l had the
money, but | added frankly that l could not
pay for them until two or three months al
forwards, as my housekeeping expenses in
the opening months OF the session were
much larger than the average. He replied
that he would contract to sell me twenty
shares at par if I Wouli in addition agree
to pay interest til the fna payment. l in
guired what per cent. 1t would pay, and he
replied that there had been large dividends,
but as the road was pushed further
into the interior the profits might not be
large, though they would be very surely re.
muneralive. The Union Pacific Railroad
had no legislation that l know OF pending
|
pgsa there could be any in the future, a.
the last amendment TO the charter author
, iZiag The issue of first mortgage bond!
; which should have priority Of the govern
ment lien, had been enacted il 1864, CVel
three years before this conversation. In
fsrriEg that any questions arising undel
said charter would be jUdicially settled, sup
posing az any rate that had the same righ
| 4l,oir 70 h11y np
2 o National Bank chartered by Congress, Oh
: in q maaufactory, tod him would agree
. to purchase twenty shares at par, anC
] the interest, to be paid for as soon as
5 | bad the money. Some weeks or months
} afterwards at the same session, paid
= Ames about 500 in cash on This contrac
: of purchase, being all the money L had, bu
? received no dividend nor certificate OF stOcl
: in whole or Ia part. My impression is tha
r | he told me that one or two dividends haC
! been earned, but they were not in cash anC
e | were IS yet unadjusted. Certainly | did
= not receive any, aud was not Offered il
< cssh or bends or stock then or since. /
: few months or weeks after this, l heard 8
/. rumor that unpleasant controversies existe'
K amongst the largest stockholders, which
r were certain to involve the organization II
: a prolonged litigation. The very day
: heard this rumor, told Ames that no pro
d fits, present or prospective, could induc
s ne 10 buy into law suit; that had neVe
IS been, during ali my life, a plaintiff or dc
It fsndant in a court Of justice; that L must
Il therefore, rec6de directly from the transac
e ton between Us. l did not wal
S stock of any kind on any term
K that would make me party /
I. litigation. He assanted to this and nothin
l. was said as to the money paid, my anziet
Ir being not to get into law;u'. All thes
r things occurred at the same session Of Cor
IS gress five years ago, which closed in th
= summer of 1868. The next year or the yea
T. after, Ames suspended payment, in const
n quence, IS was said, of financial involve
d meuts connected with the Pacific ralroa'
t.. and his creditors gave him an extension Q
N his liabilities; but regretting his failure az
d its cause, told him to dismiss from h
1t mind the small amount Of money betwee
9 US. l suppose but for this he would hay
II repaid the money l had paid him. l me-
E. repeat therefore that neither stock nor bon
as were given to me or offered to
V given to me; that l never receive
IT, a dollar in bonds, stock
! money as dividends; that did contract
IA e rtN IN h,