The New York herald., 1874-12-30
MR.. DELAMATER'S LOSS OF MEMORY
The Statement Made by Mr., John Roach, the
Iron-Ship Builder.
THE DUTIES OF A DIRECTOR EXPLAINED
The Mysterious Stranger Disappears in the De-
flnct Brooklyn Trust Company.


morning Messrs Beck Dawes Burchard, Niblack,
Kasson and Wood were in attendance. and Pacific
Mail was represented by Mr.. Ruius batch and Mr..
Clarke Bell few loungers dropped in during the
aav among whom were Richard Schell, Leonard
Jerome. Lawrence Jerome, John Morrissey and
Others.
The facts elected from the witnesses yesterday
were not very interesting. Mr. Delamater, the
rashier OF the Marine Bank, was little too much
for the committee, as he could not recall the name
or the gentleman that presented the s27 200
check and the only record that ne could ind on
the books paced 1t to the credit OF the Brooklyn
Trust Company an association since exploded.
Mr. Biltngs an ex-dlrector OF the Pacific Mail, was
subjected TO quite long and probably rather
annoying examination. which resulted In his
acknowledging a tart. known long ago TO those
posted in the arairs oi the street, thst when
sTocKwKLL WAS PRESIDENT
OF Pacinc Mail ne did pretty mucn what
he hged and the directors never bothered
their heads making any Investigations into his
management. MIR. John Roach was examined very
carefully by Mr.. Dawes, who would not hear Mr..
Roach's written statement or allow him to make
any explanations about q certain contract
IL appears from statements made by people we'll
acquainted with Pacinc Mail a1airs that when
Stockwel was elected President he controlled the
stock and put In a board OF directors 10 suit him.
self. The company then owned some $4,000 shares
of their own STOCK besides some shares OF Panama
Railroad stock. Stockwen commenced putting
the STOCK up. and when it was at eighty
the directors decided 10 sell the 10000
slares for the benefit OF the company,
but Stockwell thinking the stock would 60 to par,
decided TO hold them and guaranteed the company
that price, The money given to irwin, some
s75OooO in all, was probably given on Stockwell's
ha m net 10
subsidy IN order the price OF the stock. At
meeting OF the directors one or their number,
Mr. SMITH,
distinctly told Mr.. Stockwel that the expenses IN
relation the subsidy for the purposes OF explain
Ing the China trade, employing counsel, &C.,
should not exceed $4,000. Afterward, when the
stock began fall, the false entries in the Pacific
Mail books that have recently been brought to
light must have been made. When Investigations
were made 1t was iouua that Stockwel owed the
company aoout 81 6oo, 900, and he settled with
them as follows:-s1, loo, 600 in notes secured by
mortgage on the Howe Sewing Machine Company,
the transfer Of the Webb Steamship Company, at
the nominal figure OF $500, 900. when 1t did not
cost him half that sum- and the $750,0o0 paid to
Irwin from what he claimed Was his private &C
count.
1t was nearly eleven A. NJ. before the committee
commenced business by the examination OF Mr..
George :. Scott, VINO stated that . paper said to
be q transcript nom the Pacific Mail Steamship
Company's books was sent to his ONCE, that
claimed that they were In debt to the company
several hundred thousand dollars. On examina-
ton OF our books we found that no transaction OF
the KIND had been made.
THE ENTRIES
In the Pacific Mail steamship Company's books
referring TO US we're false. We were first made
aware OF this claim through Mr.. Rufus Hatch, the
managing director of the company i was q
director Of the Pacific Mail Steamship Company at
the same time. The charges Of the company
against our firm were OF various amounts, the
largest somewhere about $3.50, 900. will furnish
a transcript oil the account against US by the Pa
cihc Mail steamship Company. There is not q
single cnarge against US that Is correct believe
them ALI to be false. nave not examined the en-
tries on the Pacific Mail Steamship Company's
books. have seen nothing but the transcript.
Mr. Christian b. Macdougal was then sworn and
SAID reside 10 thus CT and am police offcer
by occupation; know George 5. Coe and remem-
her his calling my attention to gentleman VINO
had some TRANSACTIONS with the American EA-
cnange Bank Mr.. Coe called my attention TO
gentleman who mad presented cheek Tor large
sun OF money; think Mr.. Coe was rather anxious
about 1t as the man would not give his
name; Mr.. Coe pointed him out to me; do not
remember whether there was any oouy win MIN
the last time saw the gentlemen l followed he
was sitting IN an Office oil the Equitable Building
learned RON MIR. Coe that the gentleman's name
was Mr.. King, formerly
POSTMASTER OF THE HOUSE OF REPRESENTATIVES,
] cannot reco lect whether there was ANYBODY
with nim; 10 tie best OF my belief there was no
body with him hen he went Into the Park Bank.
Mr.. W. Q. Noyes, or the firm oil HarriotJ Noyes,
was the next witness examined-l am member
oil the firm OF Harriott Il Noyes, we have been
doing business ABOUT We years; [ know Mr.. A. b..
Stockwel the former President oil the Pacific Mail
teamship Company do not know MT. Irwin; IN
actions with MIR. A. b. Stockweli; have no knowl-
edge ABOUT the check ior .s5o,oo0 that Is credited
pastH flo Mall IN. him n IN mar nv a
BOOKS; we nave never received any avaiIs from
tnat check; this check, No. 3,o23, has passed
tnrough our hands; IL is what we call an
EXCHANGE CHECK;
IL was given simply In exchange Tor our check on
the continental Bank, as an accommodation % TO
$500,00o was returned to us on the following day
by check from the Panama Railroad Company (;
~ could not have been the interest on tne
$3.50, 900 check. as no such loan was made TO us;
distinctly say that these entries OF $e5o0oo are
Ia sc, as nobody belonging to tnat company had
any authority TO make use OF our name Ia any such
Mr. Dawes then asked Mr. Moves what would be
the Interest ON $3.50 Ooo from May "a TO September
10. Answer--I make 1t about Sl3, 700 at seven per
cent per annnm; | have no knowledge wny the
same day the figures for which we drew the
cheek we're given US by Mr. Stockweli; do not
know why he had the cheek drawn Tor sucn an
amount 1t was done SIMPLY at his request; we
had no business dealings with Eldridge q Irwin
At Mr., Beckis request Mr. Noyes repeated the
description OF tne transaction OF exchange OF
Greeks between them and Mr. stocswe Win m
MIR. StocSwel In any OF his TRANSACTIONS ~
Answer-No, sir, we only acted as brokers.
Mr.. John r. Isley then sworn. He said I'll
belong IN philadelphia know nothing about Mr.
Kings transactions with the Pacific Mail Steam
snip Company, except what heard rom Mr.. Coe,
ol the American Exchange Bank; know Mr.. King,
as 1--we In the summer ln Minnesota, where ne re-
sldes; do not know In what bank IN 81. Paul Mr..
King keeps his account; the testimony OF Mr.. Coe
yesterday explains everything that know.
Mr. Grswold, OF the firm OF Darling, Grlswold
Co., was then sworn-l am member OF the firm
oi Darling, Grswold Co. these two checks were
both indorsed oy US No. 2552, dated May 80, 1872,
Tor $l,459 IL drawn oy w. ;. King, and indsrsed
payable To Daring, Grswod Co.. and indorsed
by us the other, NO. $780, FOR $1,000 and made
payable TO US from the same person nave no
knowledge how that money was useo do not re-
member Mr.. King; | only know tnat l indorsed
these cnecks ana that the amount paid out in
dinercnt sums; am one OF the prophet tors OF tue
FIFTH AVENUE HOTEL.
Mr.. William b. Gage was then sworn-f am the