The Portland daily press., 1873-01-24
WASHINGTON.
The Pacific MObilier Investigation
Oliver ANles before the Wilson
Committee.

Oliver Ames was sworn. Witness had been
connected with the Union Pacific Railroad; was
a stOckholder late in 1866 afterwards director,
and President in 1866, and was now stock
holder and director. Was connected with the
Credit Mobilier and had knowledge of the con-
tract with Oakes Ames. No work was done on
the road under that contract until after its as
signment to the Board of Trustees of which
witness was one. Was President of tile road
when he executed the contract on behalf of
the company; was President when the Davis
contract was assigned to the same trustees.
Has books and papers showing the proceedings
of the board of trustees under these contracts;
had brought them here with him.
Chairman-Will you show what it cost the
trustees to build that portion of the road emf
braced in the Cakes Ames contract?
Answer--I am not familiar with the books
and would prefer to wait till gentlemen having
better knowege of them than myself arrive.
Witness however examined the books of the
| Credit MObilier with view to answering the
question, but was not able to readily furnish in
| formation.
Witness was examined at length as to the
| subscriptions to the capital stock of the Union
Pacific Railroad. Among the subscribers in
1866 was James Fisk jr, and associated par
ties. They also subscribed for 5000 addonal
| shares but none were ever paid for. Witness
was interrogated relative to the subscriptions
| authorized to be made by the trustees of the
Credit Mobilier to the stock of the Union Pa
cific Railroad.
| During the examination, witness said that
| Oakes Ames' contract could not have been OBJ
tanned so low as it was if the completed por-
ton of the road had not been included in the
! contract.
The Chairman-Did you not by virtue of the
contract with Cakes Ames, which included 13S
miles of the road already completed, derive
large profit from the Union Pacific Railroad
| Company, and was not the profit made the
| very instant the contract was assigned to the
| trustees?.
Alt was.
Odd not the Credit Mobilier few months
after declare large dividends?
Ave did.
| Q-Were not all the assets out of which the
Credit Mobiier made dividend obtained from
the time of the assignment until the dividends
were made?
A.-They were.
Q.-Was not large portion OF the dividends
derived from the extension of the contract over
that part of the road already built and accept
| ed by the government?
Att probably was.
Q.-What did the 13S miles of completed
road included in the Oakes Ames contract cost?
| Al do not know
Q.-Did you represent to tine government
parties in authority that the portion of the road
referred to was finished road and fully equip
| ped, and did you not receive your bonds accord
ingly in conformity with the law?
A.-The government Commissioner inspected
every twenty miles of the road and reported its
completion to the government The roadlwas
equipped for running purposes, but not to the
extent of accommodating travel The govern
ment accept the road as finished and the bonds
were paid.
Q-Do you know how much money was spent
for engine houses, engines. ETC., after the road
was accepted?
A.-A good many hundred thousand dollars.
By Mr.. Hoar-Did the contract with Oakes
Ames bind him to do to the portion of the road
already accepted anything more than to take
the additional sum of money in payment for
| it?
A.-The contract bound Oakes Anes to fur
nish certain number of engines and cars,
which he did.
Mr. Shellabarger-Was not all the machin-
cry and rolling stock at the rate of $500 per
mile, included in Oakes Ames contract already
| included in the proceeding contract?
Al think the required amount of rolling
| stock had not been put on the road at the time
of concluding the Oakes Ames contract.
The committee adjourned until tomorrow
noon.
Post Omccs.
The Housexn appropriation Committee to day
agreed to allow nearly 81, 000,O 900 for the New
York Post Office building, $2,000,0 900 for that in
Chicago and 81 100000 for that in st. Louis.
The Conscience Fnnd.
Two thousand three hundred and forty two
dollars and fifty cents, the proceeds of the sale
of coupon bonds amounting to $4,000, at 1 II Is
were received at the Treasury from Massachu
setts and placed to the credit of the conscience
!
Cotton Tax.
The Ways and Means Committee this morn
ing postponed the subject of refunding the cot
ton tax till after Beck's bjll is printed. Tht
bill embodies the views of the Subcommittee
appointed by the Ways end Means to consider
the subject.
The Louisiana Trouble.
The Committee on Elections met this morn
ing with closed doors, which were not opened fo
the public till one o'clock, when Mr.. Mortol
announced that the questions into which tn
committee would inquire were three. First
with regard to the electoral votes; second, with
regard to legality of elections, and thirdly
whether legal government now exists in Louis.
lana One person will be allowed on each side
to make suggestions and examine witnesses
The committee think it is hardly necessary tt
hear arguments. In the absence If other wit
nesses Duponts was called to the stand and ex
planned to the committee the general election
Of Louisiana. Mr.. Ray was examined as to tht
manner and date of returns of commissioners
Messrs. Ray and Mcmillan will consult thei
tomorrow, to which time the committee ad
journed
The Geneva Award.
The House Judiciary Committee to-day con
sidered Buffers bill to distribute the Genev
awards and agreed upon the principal feature
: thereof. A bi1I will be reported to the Hous
by Mr.. Butler who will ask it to be recommit
ted to the committee to be perfected.
A New Syndicate Formed-Arrangemcn
made to Negotiate 3OO,OOO,OOO.
2 There was very long conference at tf
, Treasury Department this afternoon betwee
l Secretary and representatives of proniner
| banking firms, who have made proposals
G fund the new loan. After lengthy converse
t ton and thorough understanding betwee
: the gentlemen representing the firms belo'
mentioned, an agreement was made OF Whlc
!. the following is as authentic statement an
n comes direct from the Treasury viz:
5 s'The parties to the two proposals which hay
b been pending before the Secretary of the Irea
d ury having united, the Secretary has this a
ternoon completed a contract for negotiatio
= of the remaining $500, 100000 of five per CEN
funded loan with Messrs. Jay Cooke ~ Go
It representing Messrs. N. NJ: RothschIlds an
t Sons, Messrs. Jay Cooke, McCqlloch q q
and themselves, and with Messrs. Morto
Bliss 81 Co., and ldessrs. Drexel Morgan & Ct
representing Barring Bros. & Co., Messrs,
l. s. Morgan s. Co., Messrs. Morton, Rose & Ct
It and themselves. 1t is learned that the iii
" intention of the Secretary was to announ
er $100,000,000 but after further consideration
1t was decided to place the whole amount, al
the parties representing the firms already me
toned combined and agreed to take betwe'
l. them the entire amount. The agreement b
a. tween the government and the syndicate is su
80 stantlalily the same as that which attended Il
= cd syndicate, though the particulars could n
be Ofhc1ally aScertained. 1t is understood tn
G. a few slight notifications only have been ma
l. and they are in favor of the Treasury Depal
ment.
The business of the syndicate will be COZ
ID menced soon as the preliminary arrangement
$ can be made