New-York tribune., 1873-01-08
THE CREDIT MOBILIER EXAMINATION YES
TERDAY.

IEkDAI.
MR. ALLEYS FULsOME LAUDATION OF oAKEs
AMEs-A LIVELY SCENE BETWEEN ALLEY
AND MCOMB-INCOMPLETE REPORTS OF THE
TEsTIMONY-A NEW LETTER TO BE MADE
PUBLIC.
iBY TELEGRAPH TO THE TRrBUNEI
WASHINGTON, Jan. Mr.. Polands fears that the
room in which the Credit MobiheT Committee meet
would be oyercrowded if the investigation was
thrown open to the public proved to-day TO be with
out foundation. When the Committee was called to
order at 10 o'clock this morning, there were present
only four members, Gen. Banks being absent, the
Clerk and phonographer Messrs. Oakes Ames and
John B. Alley Col. McCOmb, Speaker Blaine, Vice
President Colfax, four or five correspondents,
and one OF two other persons. The Chairman
said that Mr.. Colfax present and would
like TO make his statement. Mr. Niblack remarked
that if the newspapers desired to hear Mr. Cofax at
This time he was in favor of his proceeding, but that
If the newspapers preferred that some other witness
be examined he hoped that their wishes would be
respected. Mr.. COfax then read his written state
ment, which be said was the same thathe had with
him in the commIttee-rOom Dec. 16. After he had
concluded the reading but few questions were asked
the explanation appearing to be satisfactory to the
Committee. Mr.. Ames, and Col. MeCOmb.
The direct examination of John B. Alley was then
resumed. II was long and carefully prepared paper
chiefly devoted TO erDdrte explanation OF the con-
tests of the Ames and Durant parties for the control
of the Union Pacific Railroad and the Credit Mobiier
1t was full Of the most fulsome praise of Oakes
Ames. who, forwhat be had done. Alley said, should
be honored with a monument instead of accused of
crimes that should if true cOnsign him to the Peni
Tertiary. and abounded in the most abusive and in
decent personal attacks upon Col McCOmb and those
with whom he has acted in the companies concerned.
Such an airing of dirty personal linen has not before
occurred OF been allowed in Committee of Congress
in a long time No impartial listener cOuld avoid re-
peiving very unfavorable impression of the cause
that was defended in such manner
New light was thrown ON only one important
point in the controversy. Mr.. Alley said that the
Credit Mobiher never built but 247 miles of the
Union Pacific Railroad that it never made dollar
ont of the Union Pacific Railroad, and that it had
never paid more than seven per cent dividends.
After the 247 miles had been built, and there was
danger that the construction would stop Oakes
Ames threw himself into the breach and took the
contract TO build 667 miles of road for 470O00O0.
He was the only man in the country, accord
ing to Mr.. Alley, who could command sufh-
rient capital. Having made this contract, and
having been one of the Credit Mobiller,
Ames thought that. the stockholders of the Credit
Mobiler ought TO participate in the profits, and so
he assigned his contract 70 trustees, who were to
pay over the profits TO such owners of Credit
Mobier stock as would agree TO share with him the
entire responsibility of the contract. This all the
Credit Mobllier stockholders agreed to- and stock,
bonds, and cash APPOINTING to about S9,000,000 was
divided. These were not, Alley insisted Credit
MObiher dividends but dividends the Oakes
Ames contract, though the stockholders of the
Credit Mobiier received them III proportion TO their
stock.
flor Ha oHi 1t h Mr.
McComb. standing one side Of the table directly
opposite to Mr. Alley, requested Mr. Smith, the Off
eial reporter TO take the written statement Of Mr.
Alley and make II part of the record
Mr.. Alley 10 Mr. Smitb-No; want this paper
You cannot have it yet.
Mr.. McCOmb-Well, you must have il, Mr.. Smith
] want TO hold the dirty scoundrel to his word.
No reply from Mr.. Alley
Mr.. McComb-Oh wish you were about 25 years
Younger. Mr. Alley. i would comb you down in
more ways than one.
Mr. Alley still made no reply, but took possession
Of the papers, Mr. Smith remarking that it
matter 20 be settled by the Committee.
The proceedings in regard to these written state
ments read before the Committee are, to say the
least. remarkable The shorthand reporter does
not make a Photographic copy of them, and now
two witnesses at least have been allowed to'take
them away. leaving no copy the files of the Com
inittee. Mr. Blaine, on the first day the Commlttee
met, took away his statement, as be had a Hght
TO- but when the official copy was given to the press
yesterday, no record on Mr.. Blaines statemepi
found. The copy of II gwen 10 ths
country was furnished by the Speaker
himself to the Associated Press. Col mcComb has
been exhibiting letter to-day, purporting to be
written by Mr. Crane Secretary Of the Credit
Hobilier, stating that Mr. James Brooks bought lO
Ahares Of tbe Credit M0biliJ stock. and pad for 1t