Evening star. [volume] (Washington, D.C.) 1854-1972, 1873-02-15

The ways and Means Imyeostgatiou
TESTIMONY OF PRESIDENT KING, or THE NEW
YORK STOCK EXCHANGE, RELATIVE To
JUDGE sHERNAN's CLAIM ASDxR. BAssErT's
PROPOSITION.
The only witness examined by the ways and
means committee to-day in reference to the
charge against Judge {. T. sherman and Mr..
George A. Bassett, clerk OF the committee. was
MI. Edward King, president OF the New York
stock exchange He testified that he had been
unable to lind the letter of Judge Sherman,
heretofore referred To, claiming siO,oao for SER
vices in Washington, but that il is now i'm the
hands Of a gentleman in Brooklyn, who has
mislaid II, hut that soon found il will be
produced before the committee. He presented
TO the committee the
REPORT OF THE srB-coNxITrFE
of the New York Stock Exchange, 60 which Was
referred the claim of Judge sherman. The re-
port, which is dated "New York, January -,
le.2," says:
THAT upon summoning witnesses. hearing
evidence aud giving the matter thorough invcs-
ugaton, they could find mo basis for a valid
claim by Judge Sherman; and further, the COM
mittee suggest the propriety Of allowing the
claimant should he 80 elect) TO appear before
the governing committee, or a subcommittee
S de, ue purpose Of pr0vins substantiatngs such
In response TO further questions As TO any pa-
Pers or knowledge that lac had on the subject
under investigation, the witness produced
LETTER FROM JupeE SHERMAN,
addressed TO lie Grand Lockwood, Jr., AMI
dated Judges Rooms, United States conrt
Northern District Of Ohio, March q, iss2, Tie
following Is an extract from the letter: Last
summer at the instance Of your father \ at
tempted TO get such a reconstruction placed upon
the inter- revenue laws a. would relieve the
bankers and brokers from the payment of A
heavy tax. There was partial success, but such
Boosting or rather publicity given 20 il thar
the attention Of the Secretary OF the Treasury
was called 10 IL, and he forbid the order 60 be
ISSUED. There was NO remedy then but In Con-
gress i 80 suggested 10 your father. He then
wrote me the enclosed letter. Upon the au-
i.iar. n.xfu l-.s "a
t, L went TO work; had interviews with Mr..
Boutwell,; with John Sherman, chairman OF
ne senate nnance committee; with Gene
raj Garfield, and other prominent members
OF Congress, and the result was that IL
became the policy of the administration
stamp and other obnoxious taxes. L think this
result was brought about by discussions raised
and influences used by me. The taxes are not
the next sixty days. Ii your father were living.
there would be no necessity Of asking about II:
but, as the agreement was made through him, 4
fear there may arise a misunderstapdins. ana
therefore ask you 20 inquire into il and s,cer-
tain whether the committee Of the stock ex-
change still recognize the contract. In they do,
Il Is all right; and win still continue my labors.
lest convenience. Please preserve the let
Ter: Another thing-please inquire what
e the selling value Of the stock Of the Central
Yours r t4nls Oh California and e. me know
The vitnss. va. examined IN er reaard 10
sae omcisi report OF Colgate 70 the stock ex-
change relative to
TIE ALLEGED PROPOSITION OF Nh. GEORGE A.
BAssETT,
clerk of the ways and means committee, and
said he had no knowledge whatever Of il. ex-
cept from report, and from casual converse
ton with Mr.. Colgate and Mr.. DENNY. tie
president Of the stock exchange. Such a nrorso-
sifion was never submitted % the exchapce 40
the governing committee Of that bodv. Sh,ch
transscts all the business. He 1920
in the most positive manner thar no
70 money had ever been used with the an-
tnority OF knowledge Of the stock err
With lssislsfioa; and hat Tier. ~
no general impression on the part or the Ex-
change that valuable Legislation can be Obtained
In W Washington by use Of money. He preseuted
. letter written By John =. Denny, formerlv
president Of the Stock Exchange, dated FeS
u, 1873. and stating that Mr.. Coleste alvavs had
distinct notions hat the Exchange would NOT
consent 70 any payments being make for corrunt
purposes, and "that IL we could not succeed on
the merits Of the ease he WAS % ~ m osher
means" and saying ono payments have heen
made by the bureau Of claims, exceptin~ CO..
gates salary. which ~ 20 cover ali the eycen
-, either legal or otherwise, and two smau
ll26." '" s"oos
The committee will resume the investigator
IN Monday next.