New-York tribune., 1873-02-28

oakes Ames became Interested in tho UNION Pacific
Railroad Company, and. also the Credit Mobiies, and
connected with the construction Of the Union Pacific
Road.
The shareholders OF the Credit mobier generally
shareholders in the Union Pacific Railroad Company.
The capital stock OF the Credit M0ber s2,50OOoo TO
which in 1861 II voted 10 add so per cent which
TO be offered to its stockholders with bonus OF equal
amount Of first mortgage bonds OF the Union Pacific
Railroad Company.
In August. 1867, Mr Ames contracted with the Union
Pacific Company build 67 miles OF the road for the
Of $4,000 OOo. The contract was 20 be. and was
by agreement with parties before entered into, assigned
TO trustees for execution it being agreed that the profits
arising therefrom should be divided with the stock
holders Of the Credit Mobilier.
The contract price for building the road deemed
most liberal. from which large profits wero expected.
aud the stock OF the Credit Moblier supposed 10
possess corresponding value.
Mr. Ames was IN 1867 large shareholder in the Credit
Mober the stock Of which he does not appear TO have
been anxious dispose Of, but disposed ana was
active enter into engagement contracts with members
OF Congress for stock which expected supply from
shares Of the stock the Company which in the
hands of Thomas c. Durant. the VioePresdent OF the
Union Pacific Railroad shareholder IN the Credit Mo-
ber In trust for not declared aud 3i8 shares OF
this stock subsequently delivered 10 Ames as trus
tee TO enable him perform these engagements Ames
that time
The estimated value Of the Credit Mobilier stock in
Dee 1867 at least double its par value and the div-
dends subsequently paid thereon would justify much
CHER value. This stock understood 70 have been
contracted for with members at par, Mr.. Anes In
the carrying the shares there being little
doubt Of the motives Mr Ames IN this disposition Of
the stock
II was his diplomacy 20 gain friends n Congress and
getting men 10 look after their property, so 10
fortify the interests which he was socltous
protect against the contingency OF unfendy egisla
tiOn already menaenE. II not desirable that such
purposes should be described. and statement TO the
parties addressed Of the value Of the stock or the ex
peced in eight dividends, would be such MS
closure They were accordingly left to look 20 other
sources and fnture disclose the significance OF
the transaction his part
II will appear by glance at the evidence taken before
the Committee Of the House Of Representatives, that
senator COnkling is affected thereby. On
the contrary testimony negatives the idea that he
was al any time the Of in any way interested
IN the stock or otherwise connected withi the Credit
Moblier or the Union Pacific Railroad and this still
further confirmed by his statement before the Com
mlttee
Senator Logan was a member of this body at the
date OF the referred 10 IN the communication
from the House Of Representatives while Nj, AInes
may have designed 10 influence the subsequent action
OF Mr. Logan a representative in Congress there IS no
proof that Mr. Logan had any knowledge Of such
purpose.
on the contrary, IL appears as he discovered
that difficulty was likely arise the transactions OF
the Credit Mobier aud but few days after he had re-
ceyed said dividends he promptly returned them to Mr.
Ames with the interest.
The Committee does not believe Senator Wilson IS N
eced by the transaction with Mr. Ames. bat they feel
constrained TO advert in tins connection 10 the fact
that the 18th of September last Mr. wilson
authorized 10 the public press.
Of New-York dispatch which in effect Is regarded as an
unqualified denial that he bad obtained from Oakes
Ames Oh any other person the slightest interest in the
Credit Mobier, and 10 remark that the dispatch was
calculated convey to the public an erroneous I'M
preston.
fTt, oas all nat trn rvod al he hour of go,ag 70 pres,