New-York tribune., 1873-02-17
IGKSERAL PRESS DGsPArCHl

MONEY USED BY THE EXCHANGE TO OBTAIN
LEGISLATION.
IGKSERAL PRESS DGsPArCHl
WASHINGTON. Feb. 1j.-The Committee Of
Ways and Means this morning examined Edward King,
President OF the New-York Stock Exchange relative to
Judge sherman's claim and Mr. Bassetts proposition
TESTIMONY OF EDWARD KING.
Mr. King testified that he had been unable TO find the
letter of Judge Sherman heretofore referred to- claiming
$4,000 for services in Washington, but that il is now in
the hands of gentleman in Brooklyn, who has msaid IT,
and that as soon is found 1t will be produced before
the Committee He presented to the Committee the
port of the Subcommittee of the NewYork Stock Ex-
change which referred the claim OF Judge sher
man. The report which was dated NewYorki Jan. IS,
1872, says:
That upon summoning witnesses, hearing evidence,
and giving the matter thorough yetgatOn they could
find no basis for valid claim by Judge sherman and
ing the claim and II he should elect TO appear before
the Committee or q Subcommittee for the purpose Of
proving or substantiatlnR such demand
In response further Questions any papers or
knowledge that he had the subject under nvestiga
ton, witness produced letter from Judge Sherman,
addressed to L. Lockwood. ir.. and dated Judges
Rooms United States Court for the Northern District OF
Ohio, March a. 1874" The following an extract from
the letter:
Last Summer. at the instance OF your father at.
tempted TO get such construction placed upon the Rev
enue laws would relieve the bankers and brokers
from the payment OF heavy tax. There was a partial
success but such boasting or rather publicity gwen
that the attention OF the Secretary OF the Treasury
called 10 t. and he forbid the order be issued
There then no remedy but in Congress, and | so
suggested 10 your father He then wrote me the
inclosed letter. On the authority and in consid-
GRAFTON OF what he said IN it, went work. and had an
interview with Mr. Boutwell, and with John Sherman,
Chairman OF the Senate Finance Committee with Mr.
Garfield, and other prominent members OF and
the result that 10 became the policy OF the Admins
tratOn 10 repeal not only the tax in question: but the
stamp and other taxes / think this, result was
brought about by discussions raised ana in
huences used by me- Tho taxes are not vet
repealed but they are certain 10 be 30 with.
in the next 60 days n your father were living there
wound be necessity for asking about IT. but as the
agreement was made through him, fear there may
arise misunderstanding, and therefore ask TO in
qure into It and ascertain whether the COMMITTEES Of
the Stock Exchange still recognize the contract II they
do II is all right and Will continue my labors LEI me
hear from you your earliest convenience. Please pre-
the letter Another bngplease inquire what ia
selling value stock the Central Rail-
road OF California, and let me know. Yours truly,
{. L. SHERMAN.
THE EXCHANGE OPPOSED TO CORRUPTION
The witness was examined IN regard TO the Official re-
port of Colgate to the Stock Exchange relative to the
alleged proposition Of Mr. George A. Bassett clerk Of
the Ways and Means Committee, and said he had no
knowledge whatever OF It except from the report and
from a casual conversation with Mr.. Colgate and Mr.
Denny President Of the Stock Exchange. Such promo
sitiOn never submitted 10 the Exchange 10 the
Governing Committee Of thabody, which transaets all
the business He asserted IN the most positive manner
that money had been used with the authority or
knowledge Of TIE Stock ExeDapge Tor any corrupt pur.