Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1873-01-09

invest two thousand dollars of his wife's
money, the proceeds of presents to Mrs.
Wilson on their silver wedding, but up
on ga report being circulated which
seemed to cast shade of improperly
upon the transaction Mr.. Wilson insisted
on their being taken back, as previously
agreed rupon by Mr.. Ames, and they
were given up by Mr. Wilson.
Mr.. Alley then gave a statement rela-
tive to the manner in which Mr.. Dawes
became possessed of some shares by
the persuasion of Mr.. Ames, but which
he gave back to him on learning that
there was to be suit. Also, that al
though Mr.. Boutwell, had conyersed with
Messrs. Alley and Ames about taking
ten shares he did not take any of the
stock, and never had anything to do
with it. Mr.. Alleys testimony also
shows that Mr.. Scofield pursued a SINH
lar course to Mr.. Boutwell,. Adjourned
to Jan. 7.
WASHINGTON, Jan. 7.
The Credit Mobilier Committee res
umed their investigation this morning.
There were present among others
Speaker Blaine. Cakes Ames and Nc
Comb, IN addition to Vice-President
Colfax. MIR. Colfax, after brief pre-
liminary statement, was sworn to give
his testimony, in written form, as fol-
lows; | had expected after the Speaker
had testified 1 would be the next one to
invite before the Committee, on Deem
Der 10th, to be allowed to testify, and
that my testimony might be made pub
lie. | state explicitly that no one ever
gave or offered to give me any shares in
the Credit Mobilier or Pacific railroad.
[ have never received or had rendered to
me any dividends in cash, stock or bonds
accruing upon any stock in either of
said organizations and neither Mr..
Ames, nor any other person connected
with either of said organizations, ever
asked me to vote for or against any
measures affecting the interests of eth
er, directly or indirectly, or to use any
personal or official influence in their
favor. l desire, however, to state all
the circumstances through which, pro-
badly, my name came to be associated
with this organization. Five years ago,
about the time of holding the recess, l
was conyersing on the floor of the
House with Mr.. Ames, in regard to the
Pacific railroad, in favor of building of
which had previously made hundreds of
public address. In the course of this
conversation, he asked me if l would
not like to purchase some stock in the
Credit MObilicr Up to that time l
knew nothing of its capital OF profits,
and I enquircd of him as to its objects
and the value of its stock. AS near as l
can recall this conversation after the
lapse of so many years, l was informed
by him that it was legally incorpor-
ated company, composed of the prlnci-
pal stockholders of the Union Pacific
railroad, who were themselves building
the road, instead of letting it out to con-
tractors, who always expected large pro-
fits for capital and their advances of
money for supplies. | told him after
his explanation, that it looked like
good and safe investment for one of
limited means and | would be willing TO
purchase twenty or thirty shares at a
fair price if l had the money, but I adj
ded frankly, that l could not pay for
them until two three months after
wards, as my housekeeping expenses in
the opening months of the session were
so much larger than the average. He
replied that he would contract TO sell
me twenty shares at par. if | would
in addition agree to pay interest until
the final payment. l enquired what per
cent it would pay, and he replied there
had been large dividends, but as the road
was pushed further into the interior the
profits might not be large, though they
would be very surely remuneratiye.
The Union Pacific railroad had no legis-
lation, that l knew of, pending before
Congress at the time, nor did | suppose
there could be any in the future, as the
last amendment to their charter, author
ling issue of first mortgage bonds which
should have the priority of the govern
ment lien, had been enacted in 1864,
over three years before this converse
ton. Inferring that any questions aris-
ing on their character would be judici-
ally settled, and supposing at any rate
that l had the same right TO purchase
this stock as to buy stock in national
bank, chartered by Congress, or in
l told him | would agree
to purchase twenty shares at par and the
interest to be paid for as soon as l had
money. Some weeks or some months
at the same session, | paid
Ames about five hundred dollars in cash
On this contract of purchase, being all
the money | had, but received no divi-
lend nor certificate of stock in whole or
n part. My impression is that he told
ne that one or two dividends had been
earned but they were not in cash and
we're as yet unadjusted, Certainly |
did not receive any, and was not of
'"red any in cash or bonds or stock then |
II since. r few weeks or months after |
his, | heard a rumu4 chat UNPLEASANT
existed amongst the larg
st stockholders, which were certain to
INVOLVE the organization in a prolonged
litigation. The very day that l heard
his rumor, 1 told Mr.. Ames that no
profits, present or prospective, could in
luce me to buy into lawsuit, that l had |
lever been, during all my life, a plain
if or defendant in a court of justice,
hat must, therefore, recede entirely |
rom this transaction. / did not want
took of any kind, on any terms, that would
make me a party to litigation. He as
ented to this, and nothing was said as
o the money paid, my anxiety being
lot to get into a lawsuit All these
Kings occurred during the same session
f Congress, five years ago, which closed
n the summer of 1868. The next year
r year after, Ames suspended payment
n consequence, as was said, of financial
movements connected with the Pacific
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