Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1873-01-23
r. 3. COWAN,
Acting Secretary.

1t will thus be seen that for nearly six
months declined to take the oath of
Office. My hesitation arose mainly from
the fact that there was discord on the
board, and while that existed l did not
want to be in. When this discord was
over, in compliance with a promise |
had made to act, [ took my seat in the
board to the apparent satisfaction of all
hitherto discordant parties. The sacri-
fee was something to me, for in this
official position | could not be a stock
holder in the Union Pacific road, and if
| became a stakeholder in the Credit
Mobilier, though another corporation in
another State, l subjected myself tomis-
construction, hence 1 was compelled to
renounce a right to purchase, at par,
from T. G. Durant, two hundred shares
of the Credit Mobilier, right belonging
to me, as testified by him in 1866, or
early in 1867, before l was a member of
Congress. and which did not become
valuable until December, 1867. l said,
therefore, to Mr. Durant, as he has al
ready testified, that as a government di-
rector l could not and would not eXer-
else my right to purchase the two
hundred shares, then above par,
| but would transfer the right to
c. H. Nelson, my son-in-law, TO whom
as a stock operator, the right would be
valuable. Mr. Durant made no objec-
ton, save as to the number of shares TO
| be transferred, and he has stated that he
/ compromised on that by selling to Mr..
Nelson one hundred shares, with five
Onion Pacific bonds in addition, and q
certain number of shares of the Union
Pacific stock, which were Immediately
entered upon the books, as seen by the
records, ia Mr.. Nelson's own name. /
did not then receive, and have never
since received, one cent of profit from
the transaction in ny own or in any
other names. / have never receipted
for, nor had any dividends, or allotment
in any form, from any share entered in
the books in Mr.. Nelson's name, either
directly or indirectly. | did not give
Mr.. Nelson the money TO purchase the
stock. deeming it wiser TO make him pay
me than to give it to him. j advanced
the purchase money as a loan, as be tes-
titles, and only as loau, and held MN
responsible for paying it beek, as soon
as he could. Hence, probably, as Slr.
Ames testifies, although have ent.' reiy
forgotten the transaction, ] acted, foS
Mr.. Nelson in paying AIr. Durant, in
part 50, coo by draft to be deducted
from loan due me January 22d by Mr..
Durant, and in part $1,000 by check.
If there be any error or wrong IN so
public and natural an act, l am incapa-
bic of seeing it. IF | had been plotting
for concealment, as insinuated. / Ger
tainly should not have given my right
to purchase to a son-in-law but TO some
dummy, to some John Doe or Richard
Roe, whose connection by marriage could
not be traced to me in all the books of a
great national corporation. The fifty J
additional shares, purchased by Nelson ,
himself, on or about February 29th,
1868, were necessarily sold TO him by
virtue of my agreement with Mr.. Du-
rant, and upon statement of the fact
to the company. at was conceded that
fifty shares belonged to Linn, upon his
paying for them the par value with in
terest from July LIST, 1857. l never
spoke Ito Mr.. Alley, nor he to
me, upon this subject, as sworn TO by
Mr.. McComb, fur our relations were