The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1873-01-09
WASHINGTON.
THE CREDIT MOBILIER.
Wednesdays Proceedings Before
the Committee.


WASHINGTON, Jan. S.-The Credit Moblli
Investigation Committee met at ten o CLOCK t1
morning. All of the members were prese
except Banks. The cross-examinat on OF Jol
b. Alley was resumed. He said:
Up to December 1867, the Credit Mobile
shares had no market value. He knew tn;
two shares were sold at 80, and the same WEI
offered at TO- but late in December, 1867, aftt
| Mr. Ames agreed upon the basis, the stoc
rose, bringing 16O, in January zoo, and late
900.
The chairman having asked question rels
tive to the hundred shares standing in the nam
of Mr. Nelson son-in-law of James Brooks
| witness said he had no personal knowledge a
to who was the original owner OF them, or VIII
| paid for them. 1t appeared on the books tina
Nelson was the owner and was entitled to fit
! shares more There was no conversation be
| tween witness and Brooks in relation to thos
| fifty shares of Nelson. He presumed NeilsoI
| paid for the shares.
| how many shares of the Credit Mobilier wert
| disposed of to members of Congress.
Answer-AmeS' subscription, believe was
on the books, and Hooper's, Grimes and my
own. Senator Wilson agreed to take twenty
| shares, Dawes five shares, took five hundred
| shares, but they were not all for myself. After
| the LIST of January, 1868, do not know thai
any were sold to any members of Congress al
| par. did not know that the success or failure
| of the road would depend on friendly or un-
| friendly legislation. 1t did not occur to me
| that any further legislation would be required.
ana none as to the pecuniary matters of the
company. If the fullest investigation could be
made into the subject the public would have
been better satisfied, and especially after the
McComb suit was instituted, which gave rise to
so much misrepresentation. The removal of the
Office of the Union Pacific Company to Boston
was matter of life and death to the company,
to keep it out of the clutches of Judge Bar
nard and Fisk. Fisk wanted witness to settle
with him for $100,0 but witness said he woul
never be willing for the company to pay him a
cent, saying to Fisk call your interest is only
$40. Fisk replied that it was matter of dol
lars, and that if the company would not give
500, 900 he would damage it to the extent of
million, and Fisk did damage it to the extent
of several millions by his raids
Witness was asked whether he did get and
have under his control 100000 to cause an an
nulment of the Secretary of the Treasury rul-
ing as to interest ON the Union Pacific govern
ment bonds, to which witness answered that so
far as he was concerned he challenged investi-
cation. He never had any money, not a dol
lar directly or indirectly for such purpose, nor
did he believe that Ames had the slightest idea
of influencing the legislation of Congress by
allowing his friends to have stock. Witness
said he sold his stock at 200 in January. 1868,
His impression was it includes all dividends of
stocks thus sold. He sold the stock to Peter
Butler of Boston, who, he understood bought
it for Mr. Bardwell of that city.
Question-Do you know how much money
Cakes Ames put into the Credit Mobilier stock?
Answer Il do not. The books show. do
not know of my own personal knowledge that
he paid 500 share for every share of stock
issued to him.
Questionable you not say yesterday that he
put five or SIX millions of dollars only
Answer-No, sir; did say his individual in
terest in the forty-seven million contract was
between five and six millions of dollars and
1.x,s1 ,Al .xkAr Lr1f
million. Adjourned.
Combinations.
: The Senate has confirmed Irwin Mcdowell to
be Major General in the army, vice Meade, de-
ceased; John D. Hopkins Collector of Customs
for the District of Frenchman's Bay Me-, vice
N. K. Sawyer, removed s. d. Williamson of
Virginia, Secretary to the President to sign land
patents.
MIR. Ames COrrects Himself.
Mr.. Ames yesterday corrected that portion of
his testimony relating to Mr.. Scofeld of Penn
svlvania. IL seems that Mr.. Scofeld gave Mr..
Ames $1,000 to buy some of the Credit Mobilier
stock and took receipt therefor but upon ex-
animation he declined to take the risk, and not
having received the stock or any dividend, the
money was returned to him by Mr.. Ames and
he gave up the receipt.
Internal Revenue Estimates.
The estimate of the Commissioner of Inter-
nal Revenue for the expenses of that office for
the next fiscal year, sent to the Committee on
Appropriations, amounts to S. 700, 900, includ-
ing nearly $2,500,000 to pay the guagers and
storekeepers under the act of June 6, 1872.
Death of Gen. Carlton.
A despatch received to-day at the War De
partmeht from Gen. Anger, in Texas, reports
the death of Gen. James H. Carlton, who COM
manded the department of New Mexico during
the late war.
Vice Presi tent CoIfax's Opinion.
During the examination of Vice President
Colfax yesterday before the Credit Mobilier
.eotsasittee.-Iais- answer to Mr.. Merrick's
question whether it occurred to him in 1868 that
there was a moral wrong in the Credit Molilier
was, that he preferred not to decide whether
the conduct of others not within his knowledge
was moral or not, but the impressions in his
mind at the time he would give frankly. He
had heard that many railroads were built by
turning over their mortgage bonds to contrac
tors at about seventy cents on dollar which
the road had ultimately to pay for at par and
he inferred that as so many millions had re-
garded the building of any Pacific Railroad as
hazardous enterprise, the principal stock
holders under the charter offered by the gov
eminent had decided to build it themselves for
the subsidy whether it proved profitable or un-
profitable With such impressions, whether
correct or not, the idea of immortality had not
occurred to him, but he Withdrew from it near
ly five years ago to avoid being mixed up in it's
litigation. Mr. Colfax asked that Mr. Ames
cross-examine him, but each stated he had no
questions to ask him.
The Suit A yainsa the Credit NIrbilier
In accordance with the resolution adopted by
the House of Representatives last Monday re-
questing the President of the United States to
employ two attorneys, learned in the law, to
commence a suit against said Credit Mobier
and its stockholders, cOrporately and individu-
ally, proper court or courts, in order to re-
cover what may be due or become due to said
Union Pacific Railroad, in law or equity. The
President, it is understood, has selected and
will appoint Hon. Aaron f. Perry, ex-Member
of Congress of Cincinnati, Ohio. and General
Harlan of Kentucky.
The Syndicate.
Several bankers not connected with the syn
dictate were before the Ways and Means Com
mtttee to-day to give their opinions on the
proposed syndicate. The subject of the opin-
ion given was that the effect of the operation
through the syndicate was to take United
States bonds out of the hands of small inves-
tiers where they had tile greatest permanency
snd to put them in the hands of brokers and
large investors in the great financial centres
where they were liable to be effected by the
frequent fluctuations in the money market.
This. Mr.. Duncan regarded as an evil which
should be avoided, tending bonds and to that
extent depreciate the credit of the Government
in the markets of the world Both gentlemen
conceded in this view and also that the better
policy would be not to endeavor to force the
market at the present time but wait until the
money market is in more favorable condition
for the refuns ing of the debt at lower rates of
interest and TO let the matter be done under the
immediate control of the Treasury Depart.
ment without the aid of intermediate parties,
and that the bonds should be of uniform
character. As to the rate of interest and as to
the period for which they are to be run, which
should be a long period, and as to the place
where they are to be made payable, which
should be at the Treasury of the United States.
Mr.. Boutwell, was present at the interview.
XLIId CONGRESS-.