Evening star. [volume] (Washington, D.C.) 1854-1972, 1873-01-18
THE CREDIT MCBilIER INVESTIGATION.
Proceedings OF the Committee To-day

into the credit mobilier charges resumed its ses-
sion at ten O'Clock this morning and BenjaminM.
Boyer, ex member of Congress from Pennsyi-
vania, being sworn testified as follows:
i appear voluntarily before the committee
without q Summons because have been mem
toned in the testimony AS the owner OF stock in
the credit mobilier whilst I was a member of
Congress. desire that 1 may be examined in
relation to my purchase of that stock. 1 have
nothing to conceal concerning It. took the
stock in my own name and have so held it ever
since, as the books will show. L held seventy
five shares as INV own and twenty-five shares as
trustee for my wife, making one hundred shares
in all. always regarded ii as legitimate stock
operation and never denied having made the
investment. 1t did not interfere with nv duties
as member Of Congress j entered Congress
in 1865 and retired four years afterwards. During
that time neither the credit mobilier nor the
Y. p. X. X. required any legislation by Congress
that know Of. The land grants and subsidies
to the Union Pacific X. X. had all been voted
legislation relating to the postponement
Of the payment of interest ON the Govern
ment Bonds, took place after I had left
Congress. 1 am not conscious of ever
having voted whilst in Congress for any
measure in the interest of either the credit
mobier or the Union Pacific railroad. j invite
the most critical examination of my record.
The investment in credit mobier stock was
recommended to me by DIR. Thos. G. Durant
who was my personal friend and with whom
agreed for the purchase of one hundred shares
prise and the profits dependent thereupon were
by no means certain. This was i'm the winter of
1865. The stock was not actually transferred to
me until long after l had agreed to take it,
There was some difficulty and delay in obtaining
all had agreed to take. At first Is shares were
paid for and transferred to me in December
20 1se!, and some time afterwards the additional
70 shares, which / had transferred to me
as trustee for my wife. This completed the
original contract between DIR. Durans and
had no idea Of wrong in the matter, nor do I
4 liz
connected with either the credit mobier or the
Union Pacific railroad sever directly or indi-
rectly. or in any way limited that my services as
member Of Congress were expected in behalf
OF either corporation in consideration of the
stock obtained and certainly no such services
were ever rendered. Twas much less embar-
rassed as member Of Congress by the owner
ship of credit mobilier stock than should have
been had owned stock in a national bank, or
in an IRON furnace, or wcolen mill, or even
holder Of government bonds for there was i'm
portant legislation while I was in Congress
Affecting all these interests, but no legislation
whatever concerning the credit mobilier. can
therefore find nothing i'm my conduct i'm that
regard to regret. 1t was in my Judgment both
honest and honorable and consistent with my
position as a member of Congress, AMI as the in
vestment turned out to be profitable my only
regret Is that it WAS no larger in amount.
IN ANSWER TO QUESTIONS
of Judge Poland, Mr.. Bower testified he did NOT
inquire particularly in what way or through
whom he was to get the stock contracted for.
He contracted for 1t i'm the usual way. The ne
COLLATION. was wholly with Mr. Durant. 1t COM
menced in 1866. Witness was ready TO pay for
the stock long before it was delivered to him.
Received the seventy-tive shares in December.
1861, through Mr.. Durant, and paid for it when
1t was transferred. Could not remember the
total amount of dividends which he received
but had no doubt he received the same as other
stockholders. He had no negotiations with Mr..
Ames; did not think he ever conversed with
him on the subject until after he (witness) be-
ByMr. Merrick LEFT Congress in $780, Never
voted to smother any invests .ton into the az
airs Of the Union Pacific railroad.
JAMES r. WILSON, OF IOWA,
was sworn, and testified as follows:
once bought and paid for ten shares of the
capital stock Of the credit mobilier of America.
The par value Of the shares was one hundred
dollars cash-in all one thousand dollars. The
purchase Of this stock came about in this way.
When MI. Cakes Ames vas soliciting subscrip-
to svbseIibe for 5000 of it, which declined to
60. heard nothing more Of this stock until
some time in the year 1S6S-the exact time
cannot state. but certainly not earlier than
with whom had been acquainted for several
years, and against whose character had never
heard any reprOaeh,) who, during . converse
tionhad between us, asked me II held any
credit mobiIier stock. told him that did not.
that Mr.. Ames had once asked me TO subscribe
for S5 600 Of il, but that had declined the Offer
Mr.. McComb replied that could get that stock
yet. and that he wished 1 would do 80. I told
him that knew but little about il, and inquired
its value. He said that would depend somewhat
on circumstances, but that l need not hesitate
at par, and that he would take il, furnish the
money 10 pay for it and allow me an advance.
which would have been liberal compensation
cumstances nnder which he had subscribed for
number Of shares; that he had made the Sub.
scrption i'm good faith; that the company re-.
fused to recognize his subscription and were
trying to cheat him out of his rights under It:
that he was determined to have the stock,
and that, IL he could not get il quietly
and peacefully the would enforce his rights At
anecesssrs trouble sbou. It. but that he would
not be cheated out of it and that he was willing
to 10 anything for peace short Of surrenderin,
as 70 e s8 Sw eaa
with it all II driven to 1t. The impression which
he made on my mind was that il he could get the
stock even Gy indseeton ne would fs; , DO
nection he said that there was other stock in the
same position as that which he said 1 could
get, and that there was no reasonable ex-
had done. As result OF this conversation
I had an interview with Mr. Cakes Ames.
saSsse Sf mobe, t ,Sss wsss not
He said t'No, you. declined to subscribe for It,
and it has been disposed Of" I replied that /
had been informed that that amount and more
shares. He replied that the st Dck was disposed
of and that whoever had told me what had
stated was mistaken. i muuicated the re
sIlt OF this interview to Mr.. McComb. who said
that II was just like .Ames and that IL he could
take care Of himself aud his friends everybody
else might whistle for their rights and said,
''See Ames again and tel him that there il mo
mistake about the matter, and that (McComb9
know there is notn I did see Mr.. .Afnes again
who said that Mr.. McComb's statement was not
true, aud repeated his former state
meBts. then asked him III It could NOT be
arranged so; that I could get the stock
He replied that he did not believe that it could
be, but that he was soon going to New York,
and would see what could be DONE. Sometime
afterward Anaes told me that he had Arranged
for ten shares for me ut par and seven per cent.
interest ,iex.pFior dividends; that, that was the
best he could DO then. but he would see II he
could do AIRY more. took the ten ishares, aud
asked him TO arrange f0r the rest n he could
but no more was arranged for. When subss-
quehtly told Mr.. M0Comb, me said, Well, that
IA another Of his tricks. He don't want to do
any better, bat II you intiet on 10 he win, )" and
thSt be (dcComb) wanSed sAe stock on the
gr6and aooT, ~ juSt AptAe rest had had theirs
I ksd talked 20 nush 10 Ilr. AnsSs that 1 con
clu.!ed to await his lsovements; that anything
further - would lock too much filcS i'm,
p0Itunity, but - I have stated, he
never arranged for any moro stock.
and the ten shares were o. my hauds. l HEAD
the stock until sometime In the winter Of leoo
when sold II, the reason for which viii mate:
A god deal of eonfenfiOn had sprung mp AMONG
the parfea interested N "a II ul0u kar36~ -, n