National Republican. (Washington City (D.C.)) 1872-1888, 1874-05-06

lleye.
Q. Then you gave this stock to Mr.. Emery
without any consideration A. It virtually
cost him nothing.
O. Turn to the next. That disposes of oue
hundred shares of this stock. You have dis
4 posed of one hundred shares of this trustee
stock. To whom did you give the rest A I
see the othor Is held by Mr.. Evans. sec il
has not been transferred jet.
Q. To whom did you give I'll A. think it
was given to him. He owns great deal of
stock which has never been transferred on :hIs
book hsrs-stock which was bought from diff
ferent parties.
=. Did he buy from you as trusted A. Yes,
sir.
Q. VIVA. did he pay you'll A. He paid the
twenty per cent. in.
=. When was thlsi A. That It Is hard for
me to remember. It was q long while back.
Y; Docs the stock still stand In your namel
sir.
Q. What was the next transfer you madef A
think these are all. think fftY shares ard
twenty-five shares are all. The other have.
| The one hundred shares still hold.
Q. Do you hold that for the benefit of the
company A For the benefit of the company,
It has never been disposed of.
| 0. Do you hold It for the benefit Of any indf-
viduai A. No, sir; 1 calculate to have that
myself.
Q. Why did you give Mr.. Evans shares Of
stockl A. We thought he was good man to
| have In with US.
| o. Was he not q stockholder prsViouslyi A.
No, sir; think not. do not know that he
| appears here at all on the books. He bought 8
lot of stock, but do not think that any Of his
stock has really ever been transferred. Yes,
here is one place see, Transferred from stock
| No. Is" That Il stock that he bought from
| Moses KELLY; i.lt" Is also stock from Moses
| Kelly--fifty shares each
By Mr.. Jewett: Q. There are no such ac-
counts OF transfers Of fifty shares each here.
| A. say IL has not been transferred on the
BOOKS. He holds the stock, but It has never
been transferred on the books Of the company
al al.
BY SIR. Bass: Q. You have an account of III
A. Yes, sir.
here, With Mr.. Evans for eighty-four shares of
stock. Were you the secretary Of the COM
panyi A. No, sir.
| wss issued to him.
Q, By you'll A. BY the secretary.
.. From whoml A. There is Moses Kelly,
| fGy shares, No. II; and Noses Kelly, No. Is,
| cry shares; he has one hundred shares in all.
II At sishty-four might have been prior to this
| asst. This was May %, 1872.
Q. And this stock was all put into your
| hands as trustee, with full authority to dis
scse Of il as you pleasedi A. Yes, sir.
! q, And you gave 1t away without any con-
sidsrationf A. Some Of it / gave away with
out any consideration. l took Mr. Evans in
ard he paid Just exactly what was paid in,
| twenty per cent,
By Mr. Stewart: Q. DID he come in before
thu money was earned did lie advance i'll A.
| No, SIR.
By Mr. Jewett: Q. If he paid the 20 per cent.
you paid It back to him again! A. hold that
20 per cent. There was nothing paid on 1t at
| eli. This whole stock was wiped ont.
| by Srr. Wilson, Q. He got % per cent.
prol: and the stock beside Tor nothinsi A.
By Mr.. Jewets: Q. It says, "leaving balance
IN distributed of 800 shares" What became of
thsa A That was distributed among the
twsiTe original stockholders. 1t all shows
| Lere.
| o wttou: any consideration whateverl A.
Yes. sir.
| Q. How much stock did Mr. Murtagh havei
| A. twenty-five sharel.
Q. Did he ever have any more than that,
either directly or Indirectly y. No, sir.
| 0. What dld his stock cost him! A. The
same; twenty per cent.
Q. Was the result Of his operation exactly
the Same as these other gentlemenl A. No,
| sir; he was one o. the original stockholders at
the time Of that distribution.
Q. Has he transferred his stocki A. Yes,
sir.
~
Baak, think. II has never been transferred
| on our books, however. l paid Mr.. Swain,
cashier Of the First National Bank, the diVi-
dend.
Q. How much stock did Mr.. Noyes have!
| A. Twenty Ave shares.
Il @. Is that all he ever hadl A. Yes, sir.
Q. Ills was the ssmel A. Yes, sir.
I Q. Does Mr.. Noyes own hiss A. l think he
docs. do not know Of any transfer.
Q. Do you know whether Mr.. Emery held
his stock on his own account, or somebody
eIsesl A. On bis own.
Q. You knew nobody else in the transactioni
| A. No. sir. The way Mr.. Emery came TO get
this, he claimed TO DO originally in the Ballard
interest. There was a considerable fight as to
whether we should let him have it at all. Mr..
Emery claimed that he was entitled, from the
fact Of being connected, or having an interest
in the Ballard Company. We declined to let
him have 1t when we first organized.
Q. Was there any 20 per cent. paid him on
these 800 sharesl A. No, sir; that was paid
out. ! viii state that In that matter that We
twelve hal to carry tho whole machinery on,
pretty much, ard they raised the money on il,
and we made an assessment on them, and con-
sidered Il 20 per cent. We made a loan merely
for the company.
Il o. So that that 800 shares with the p-ons
of Il were distributed to the original twelve
stockholders, without any consideration beinlr
Paid by theml A. Without any additional
consideration.
| O. What was the real reason for winding up
this companyl A. Well, the real reason was
that we did not think that Mr.. Shepherd was
favor'ng US at all. He felt, / think, de!cacy
aSout faTorinz US because Of our combina'tCn.
O. You hadn't lost muchi A. No, SIR; there
were so many In It that when we divided ii up
we didn't consider that 1t was paying Us, and
that we could do bstter-we who were active
int he concern and running the whole ma
chine. We thought We could do better for
ourselves.
O. Wasn't this the real reason, that you had
! some parties to whom stock had been dlstrib-
uted in the manner which you have indicated.
and whom you regarded as dead Eeads In this
| business, and that you wound Il up for the pur-
pose of preventing them nom getting further
profits from the businessi A. No, sir; that
| was not the cause.
Q. Wss that matter never discussed among
| youi A. Yes, sir.
Q. Did tina. have nothing to do With your
winding-up Of this concerni A. 1t might have
had something to do with IL.
| O, Didn't Il have o great deal to do With It!
A. Il had great deal to do with II; there Isro
doubt about that. I didn't feel, myself, lii Q
carrying the whole machinery on myself, aG-
vancing money, and having all the trouble,
when could do II by myself, individually, and
! and expense thus incurred.
q. There was some money you have not yet
Distributed A. Yes, sir.
i @. What have you done with III A. have
it.
Q. Have you had It IN yogr possession ell the
whiiel a. Yes. SIR; not money, however, but
certificates.
6 Have you loaned aaS of 1t to aEy6cGY1
A. No, sir.
| Q. Neysri A. No, sir.
By Mr.. Bass: Q. Can you EEL by ih's tnoA
what the gross amount Of you: cOntra,.is we're
with the boardl A. Yes, ar.
Q. How much were thsyi
BY Mr. Wilson: Q. In that connection de-
sire 10 ask you another question | sse ~ toe
record shat al contracts are ;O'os :nkGs b The
president In tho nsms of the company. Was
tha. donei A. ] think mott I male them in-
Acknowledgements Of than.
Q. What IL the reason OF that when your
records require tia. you should do sol A.
do not know OF any particular reason; | bad 20
furnish the bond, &c. do not know that
had any particular reason ioI doing It.
Q. Was your company asserting 10 the tax
( ing OF contracts in that forml A. Yes, sir
they had no objection to my doing Il.
BY Mr. Bass: Q. As appears by this state
ment, the gross amount Of your paving con-
| tracts done n this city WAS S5y5, sos Us. That