Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1873-01-31
The Credit Mobilrer Investigation,


At the session Of Mr.. Poland's Committee,
on the 18th, B. NJ. Boyer, exmember Of Con-
gress from Pennsylvania, voluntarily ap-
peared and said he had nothing to conceal.
He took seventy-hve shares In his own name,
and twenty-five as trustee for his wife, and
has held them, regarding It as a legitimate
stock transaction. During the time he was
in Congress neither the Credit-Mobiller 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
mendqtlon of Durant.
James r. 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
1851, his constituency were unanimously In
favor of the construction Of the railroad TO
the Pacific, and he had always earnestly
supported the enterprise. Neither Ames,
MComb, nor any one else attempted to in
huence the action of the witness as a mem
Der Of Congress. He did not know at first
whether he had profit or loss on the stock.
lie WOulu hCb hEdl0 hb ne ulu
the same state of affairs.
General Banks took his seat with the Po-
land Investigating Committee, for the first
time on the Doth. Sidney Dillon, President
Of the Credit-Mobilier 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
that he received 100 shares from Durant,
and under the rule was entitled to 80 shares
additional, which were finally made over
to Nelson, son in-law of Brooks. At the
same time Nelson borrowed 5000 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 5000 without looking at his
books; did not know what Ames did with
the stock transferred TO him. At an In
terview with Brooks relative to the so
shares, neither Alley nor MComb were pres
ent. Brooks had nothing to do with the
money loaned Nelson by witness. Brooks
said briefly that the stock was to go to his
son-in-law, Nelson, and not to him (Brooks).
Witness never knew Of Brooks having re-
ceived any dividends from Credit Mobiller;
did not know where the books of the Credit
Mobilier were, unless they were in the hands
ion with the transaction of Brooks.
Mr.. Burant was recalled on the 21st, and
produced list of persons to whom he had
transferred stock. He did not think any
was held in trust for Congressmen. He
produced 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
Railroad, he felt compelled to renounce a
right to purchase, at par, from 7. Q. Durant,
200 shares of Credit.Mobilier, right belong
ing to him in 1865, or early In
gress, and which did not become valuable
until December, 1867. He had transferred
his right to purchase the shares to his SON.
in-law, G. H. Nelson. He did not then re-
ceive, and has never since received, one cent
of profit from the transaction in his own or
in any other names. He did not give Neil
son the money to purchase the stock, but
advanced the purchase money as
loan, and held Nelson responsi-
BILE for paying 1t back as soon
as he could. Mr.. Brooks did not wish
alphabetically to convey the idea that he de-
clined ownership in the Credit Mobilier
stock because he was member of Congress,
| for II he had never been named q Govern
ment Director, he should probably have
| been owner OF large amount of stock to
| this day. He had as much right to own
I
or spindles, or lead or iron mine,
or barley, or timber, or steam engines,
| or foundries, with two or three thous-
and tariffed articles, largely indorsed 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
road.
Senator Patterson again voluntarily ap-
| peared before the committee, and insisted
| that what he had heretofore stated was cor
rect, which was that he gave Ames money
for investment in Union Pacific Railroad
| stock and bonds, and was not aware that the
latter had applied 1t to the purchase OF
Credit Mobilier stock.
Oaks Ames testified before the Committee,
on the 22d, that he agreed to give Mr.. Col
| fax twenty shares of Credit-Mobilier stock
in December, 1867. Witness received divi
| dends upon it of so per cent. in Union Pa
ciic bonds, and accounted to Colfax for the
| bonds sold Dy witness. In March. 1868,
| ColfaX gave witness a check for 1884. 70. He
| didn't remember delivering stock to Colfax.
| The check and proceeds of the Union Pacific
stock paid for the Credit-Mobilier stock. In
| the June following he gave ColfAX check
for 81 200, dividends on Credit Mobilier
Colfax had never called upon the witness
for Credit Mobilier stock, and 1t Is ready to
| deliver to him whenever he wants V. he
supposed that Colfax understood the 81 ,20C
was dividend upon the stock. Witness
had no recollection that Colfax paid hin
81, 200. 1t don't belong to witness. Mr.. Col
fax, who was present, said that he reasserted
what he said before in regard to the 81 200
He now gave notice to Ames that he would
prove the negative, and asked that the
Sergeant-at-Arms be summoned with his ac
counts. Ames declared Senators Conkling
Fowler, Bayard, and Wilson, Of Massschu
setts, and Representative Blaine free from
any connection with the Credit-Mobilier
Dawes and Allison bought and paid fol
stock, but afterwards returned it. Garfield
took stock, which more than paid for itsel
by dividends; the balance Ames paid HIN
by check for 1929. This, he said, was wha
Garfield called loan. Kelly, scodeld ant
Bingham were each owners of stock. TIL
statements of Mr.. Wilson, of Iowa, he cor
roborated.
Allison testified that Ames must have IN
derstood that the stock accepted by hin
(Allison) was given back to Ames as ther
have been frequent dividends upon it, bu
the witness had never received any Of then
with one exception.
N g. ordway, Sergeant Of tn
House OF Representatives, was sworn an
examined by Colfax. He had examined tn
account OF CouaA lot looo, oub sa" No ehOr
Of a deposit of 81 200 there; had no
examined the accounts of Ames; h
did deposit some money in 1865; di
not remember If the check given to Alliso
was indorsed; saw a check with the letter
'S. c." or bearer, for 81 200; witness doe
not pay out or receive money. The payin
teller in 1868 was Thomas B. Chene. Othe
checks were payable toinitials. No indorst
ment was required from members OF Coz
gress generally when they drew money then
selves. The check payable to "s. c." wa
signed by Oakes Ames.