Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1873-02-06
The Credit.MObilfer Investigation.

on the 18th, B. NJ. Boyer, eX-member OF Con
gress from Pennsylvania voluntarily appeared
and said he had nothing to conceal. he took
seventy-fve shares in his own name, ano
twenty-five as trustee for his wife, and has
held them, regarding it as alegitimate stock
transaction. During the time he was in
Congress neither the Credit-Mobilier nor
Pacific Railroad required legislation. All
subsidies and grants had been voted on be-
fore he was Congressman. He invites
critical examination Of his Congressional
record, and says his investment in Credit
Mobilier was consequent upon the recon-
mendation of Durant.
James +. Wilson, of Iowa, made lengthy
statement, saying he once bought and paid
for ten shares of capital stock OF the Credit
Mobilier, which he subsequently sold, after
having learned that there was prospect Of
continuous and serious litigation concerning
the Company. His application to Ames for
the stock was made at the suggestion of
M'Comb. When he entered Congress in
1861, his constituency was unanimously in
favor of the construction Of the railroad to
the Pacific, and he had always earnestly sup
ported the enterprise. Neither Ames,
M'Comb, nor any one else attempted to in
duence the action of the witness as mem
Der of Congress. He did not know at first
whether he had profit or loss on the stock.
He would act again exactly as he did under
the same state of affairs.
General Banks took his seat with the PO-
land Investigating Committee, for the first
time on the 2OJh. Sidney Dillon, President
of the Credit NJ obilier, testified that he knew
of shares put into the hands of Durant and
Ames to fulfill previous contracts, but did
not remember the names of the persons
Ames said he was under obligations to the
same. Allusion was made to Congress
men, but he did not remember the
names; thinks Ames mentioned James
Brooks; witness said Brooks came to
him, saying hat he received 100 shares from
Durant, and under the rule was entitled to so
shares additional, which were finally made
over to Nelson, son-inlaw of Brooks.
At the same time Nelson borrowed S. 600 of
him Dillon) to pay on them. Durant
paid for the stock transferred to Nelson
by the Company; could not tell whether
Nelson repaid the $1,000 without look
ing at his books; did not know what Ames
did with the stock transferred to him. At
an interview with Brooks relative to the so
shares, neither Alley nor M'Comb were
present. Brooks had nothing to do with the
money loaned Nelson by witness. Brouks
said briefly that the stock was to go to his
sonin law, Nelson, and not to him Brooks.
Witness never knew of Brooks having re-
ceived any dividends from CreditMoblier;
did not know where the books of the Credit
Mobiler were, unless they were in the hands
of Mr.. Ham; never heard of Alleys con-
nection with the transaction Of Brooks.
Mr.. Durant was recalled on the 2lst, and
produced d list of persons to whom he had
transferred stock. He did not think any
was held in trust for Congressman. He pro-
duced the receipt Of J. b. Alley for 200
shares, at 100.
Mr.. Brooks testified to the effect that when
he accepted the position of Govern
ment Director Of the Union Pacific Rail
to purchase at par, from T. G. Du-
rant, 200 shares of redit-Mobilier, a right
belonging to him in 1866, or early in 1857,
before be was member of Con-
gress, and which did not become valu-
able until December, 1867. He had trans
ferred his right to purchase the shares to
his son in-law, G. II. Nelson. He did not
then receive, and has never since received,
one cent of profit from the transaction in
his own or in any other names. He did not
give NELSON the money to purchase the
stock, but advanced the purchase
responsible for paying it back as
sooon as he could. Mr.. Brooks did
not wish apologetically to convey the idea
that he declined ownership in the Credit
Mobilier stock, because he was member of
Congress, for if he had never been named a
Government Director, he should probably
have been owner Of large amount Of
stock to this day. He had as much right to
own paper stock as live stock, or sheep
or spindles, or lead or iron mine, or
barley, or timber, or steam engines
or foundries, with two or three thous-
| and fairfield articles largely Endorsed by Con-
gressional legislation. He had never been
asked to give, nor had he given, vote in
Congress that was unjust to the Govern
ment, or for the profit of the Union Pacific
Road, nor had he, as charged by McComb
asked Democratic members of Congress to
vote for the road, and he did not remember
ever to have spoken to any Democratic
member upon any legislation relating to the
al.
Senator Patterson again voluntarily an
peared before the committee, and insisted
that what he had heretofore stated was cor
rect, which was that he gave Ames money
tor investment in Union Pacific Railroad
stock and bonds, and was not aware that
Inc latter had applied it to the purchase Of
Credlt-Mobilier stock
Oakes Ames testified before the Commit
zee, on the ed, that he agreed to give Mr..
Co1ax twenty shares of Credit Moblier
stock IN December, 1867. Witness received
6ivloends upon it of so per cent in Union
racine bonds, and accounted to Colfax for
the bonds sold by witness. In March. 1865
Soiiax gave witness check for
s53473. He didn't remember delivering
STOCK to Colfax. The check and proceeds
OF the Union Pacific stock paid for
the ene Credit. Mobilize, stock. In the June
s.9,u ioN he cave Colfax a check for
sll@U, dividends Oh Credit .Mobilier