New-York tribune., 1873-01-08
THE INVESTIGATION.

The remarkably full report of the Credit
MObilier investigation which we began yester-
day and continue to day. has made it evident
that McComb's story, however false it may
have been i'm some minor details, had a solid
foundation of truth. Mr.. Oakes Ames ac-
knowIedges that he did undertake, IN the
Winter and Spring of 1868, to allOt a number of
shares of Credit MObiler tO'certain Members of
Congress at a price very much below their
market value. He admits that his purpose in
doing this was to influence legislation,-that
is to say, to make friends in Congress" who
would take enough interest in the road to
prevent its being "interfered with" He as
serts that all the stock he distributed, or un
dertoOk to distribute, in this way in 1868 had
been promised by him long before. at a time
when it was not worth premium; but 1t
is clear that this was not true of
the stock offered to Mr.. Blaine and Mr..
Boutwell,, nor of the stock sold to
Mr.. Dawes and Senator Wilson, and VIC are
justified therefore III concluding that 1t was
not true of any of the stock. Of course MI.
Ames says this allotment was not bribery,
but a purely business transaction. The fact
is, however, that at a time when, according
to his letter of Feb. 90, 1868, the stock was
held to be worth three hundred or three hund-
red and fifty per cent and was earning
dividend of eighty per cent, some hund-
reds of shares, belonging to the Com
pany, were placed at the disposal of Mr.
Ames to be used "where they would do most
"good," and that he proceeded to distribute
them among Congressman, not at their market
value but at par. Some paid cash, and were
almost Immediately reimbursed for the out
lay by the dividends. Some got Mr.. Ames to
carry the stock for them. He was so anxious
to get rid of this valuable property that he
offered to guarantee ten per cent to
every influential legislator who would
take it; and when some of them
in alarm brought it back, after
the McComb litigation began, or perhaps after
the exposure last September QOr Mr. Ames is
not clear about dates), he not only refunded
the money but paid them the promised ten
per cent, or let them keep their dividends 1t
is significant fact, however, that in no case,
80 far as the testimony yet shows did any of
this stock appear on the books of the Credit
Mobilier in the names OF the COngressme1
who took it it was all held by Mr.. Ames as
trustee.
These facts appear in the evidence of 0akes
Ames himself, and in that of his friend and
agent, John B. Alley. They are conclusive of
the attempt at Wholesale bribery, and of
course leave Mr.. Ames in very unpleasant
position; Mr.. Alley, not being now a Member
of Congress, is beyond reach. But how far
particular persons are implicated with Ames
we shall not yet decide. 1t would be unfair
TO condemn anybody on the suspicious testi-
mony of McComb alone, or even to accept
the admissions of Ames and Alley as
final proof OF guilt until the ac-
cused have been heard in their own
defense Mr. Ames denies debating the
memorandum Of names and amounts which
McComb set down on the back of one of his
letters but he admits that while the amounts
are generally wrong the names are nearly all
correct. One of the twelve Congressman mem
toned has testified in his own behalf. We
mean Mr.. Blaine. The purpOrt of his evidence
was given yesterday in our report of the ex-
animation of Messrs. Ames and Alley,
but by an unfortunate accident the ev'-
deDce itself was omitted. We print it
therefore to-day in full. 1t is in substance
this: that Mr. 0akes Ames some time in the
Spring of 1868, proposed TO Mr.. Blaine to take
ten shares of the stock at about par, and Mr.
Blaine refused The witness adds that he
never owned or held directly or indirectly.
or derived any benefit or profit whatever
from any shares OF stock of the Credit
MobiGel, or the Pacific Railway aud