The New York herald., 1874-12-30

the checks between April and the 5th oil septem-
Der have been returned 10 the Brooklyn Trust
company; received the check rom the Brooklyn
Trust Company. and have never mad any knowl-
edge OF the Individual from whom TINS cneck
son from whom the check came meant tnat 1
Knew the frm or company; personally, 1 nave no
do not know what the Brooklyn 1rus, Company
can tell you IN the matter, as they we're only
customers OF ours. tnat brought their ac-
counts like any ordinary merchant; ! can
was checked out, as we take no cognl--
OF S275.oOo was made the Brooklyn Trust Company
had about Sl5l 600 TO their credit with the Marine
Bank. out as they drew sl5o,ooo the same day they
wards, on June 2 $5S,oo0; June 8. 1000; June .,
300 600; June u, $4,000 ana June IS 100000; 1000,
there were also large number OF deposits maze
during the same time; received the money
from the American Exchange Bank on tae follow
remember making any statement to Mr.. Clarke
that knew the man who brought the check to our
TO the matter by any onacer OF the American EX-
change Bank;
HAVE NO RECOLLECTION
OF the check whatever; / do not know whether
the check had any Endorsements or not.
Mr.. Dumont Clarke, the cashier OF the American
Exchange National Bank, was then recalled and
confronted with Mr.. Deanater. Mr.. Clarke said he
recognized MT. Deiainater, and that he was the
gentleman with wnom ne had the conversation at
The Marine Bank. Mr.. Clarke said that he had
asked him about the person who mad paid IN the
mater replied. ayes he was all right" am sats
fed that Mr.. Delamater said ne knew the person;
l. myself, know nothing more about tne matter.
Mr.. Delamater then resumed We have had no
business with the Brooklyn Trust Company since
their reorganization; know the officers OF the
ness with them; l do not know the names OF the
trustees with whom we settled our account; do
mater then retired, carrying OF his books
Mr. Q: 7. Y. Billings was taen sworn and exam.
Il reside n IN New nork nd saye een o
elected In 1871 and remained IN office until
late in 1872; was director during the passage OF
the subsidy; | know that Mr.. Irwin was sent to
Washington TO represent the interests OF the
company; he was employed, ! believe, to TRY and
any other person having been employed for that
purpose; do not know OF any money having been
used for the purpose OF AIDING the passage OF the
bill; was present when
srocKwELL WAS AUTHORIZED
TO expend money 70 assist the passage OF the blll
Board that can hardly remember tile exact Ian
guage that was made use Of at the Board; re-
Mr.. Stockwell said 1t was necessary to spend some
money TO entertain. employ counsel. &C., in order
70 secure the passage OF the bill: l believe Mr..
Stockwe stated that sum OF $4,000 would be
all that was necessary; am certain that no large
sum was set apart for the purpose OF influencing
legislation; during my attendance at the meet
ings heard OF no attempt being made by the COM
pany to
do not know of any sum oil $780, 900 being re-
tanned lor such purposes; such thing could be
Secretary ard Treasurer OF the company.
Mr.. Dawes then commenced his cross-exami-
nation, IN which he asked numDer OF questions
as to the
POLICY OF THE COMPANY
whether they wished TO know wnat their Presi-
dent was dong IN regard to the subsidy. Mr..
Billings was very careful In his replies, but ac-
knowledged that II the directors OF the company
had been very anxious TO know what Mr.. Stock
well was DONG, they could have found out Dv
reference to their BOOKS. He then SAID II never
heard OF any of the directors making any inquiries
as to what Mr.. Stockwell was expendlng on the
matter; became director on the 10th OF N0vem-
Der, 1871; went in with what Is called the
sToCKwBLL BOARD;
do not know whether MIR. Stockwell. owned the
majority Of the stock at that time; think the
stock was then worth about fOrty-iOur; 1t went
during the Stockwell administration above par;
am not sure whether Was carrying any stock:
may have had q couple OF hundred shares; | do
not think ever made any examination into the
books OF the company; the auditing committee ex-
amned the books regaiarly; is Iva was the habit Of
trey in the hands OF the President and Treasurer;
do not remember any call being made on the
President TO make a statement OF what he had
done In regard 10 the subsidy.
Mr.. Beck then read copy OF the resolution au-
aiding the passage Of the Subsidy. Mr.. BILLINGS Is
then said, "That Is the only authorization that
know being made with the company's consent;
(abOut $3.50 900 in ally were put into Mr.. lrwin's
hand; never heard any member Of tie Board OF
| Directo MAKE any remarks about it."
Mr. Beck then said '.Does not it appear to you
that the directors Of the company shut their eyes
to the action OF the PRESIDENT ?' Mr.. Billings
said, .sThat IS matter OF opinion" But, bein
pressed, said ne believed that 1t was generally
anime closely into their accounts, but it was un-
derstOod in the Pacific Mail steamship Company
70 the matter natter IN Or the easds Of their
believe was sc some dinners that It might
sist the passage OF the subsidy; the Board
OF Directors ratified the resolution giving
him discretionary power to expend certain
sums; don't know exactly what particular use
personally, tnat was to the Board Of Directors, and
perhaps II close investigation was made into
many OF the companies throughout the country it
viii be found that the directors leave great deal
in the hands or the President and Treasurer l
knew tnat Mr.. s'ockwel was operating IN Pacific
Mail but that did not make any material differ-
ence, as 1t was customary IN New York; do not
remember stating that Mr.. slockwell denied hav-
! ing used any large sums OF money Tor legislative
! purposes; the accounts Of the
| SAN FRANCISCO AGENCY
| are generally submitted every three months do
| not remember the names OF the Board or Auait at
that time was not selected as director from any
particular position that could occupy IN the
| Board; knew that the company mad applied for a
SUBSIDY; | never heard from pny agent OF the
companies that they were applying for such SUBJ
sidy; may have asked at the ONCE OF the COM
pany how the affair was progressing and heard
that there was prospect OF obtaining II; | have
ierent loans made BY The company; do mo- not re- re-
member ever making inquiries as to now much liz
would cost to get this subsidy; II had examined
the books 1 should probably nave known what
was gong on, but at the meetings the President
was In the habit OF making statement. wnlcn
bne ulIeCtOTS kcutIdily dCCcpLcu. dL JHdt tIue i
had no other connection with the company except
as director, but since have acted as attorney Tor
them and was pretty well acquainted with their
financial condition.
Mr.. Thomas B. Musgrave was then sworn-I
knew Richard B. IRWIN; he had considerable busl-
ness with me In 1872; he bought and sold stocks
through our house; il was a business OF deposits
and disbursements on checks; II VAS more a per-
sonal account than otherwise; this is copy OF his
account during the period You speak Of; on the
25th OF May MIR. Irwin deposited So, 600 with US
on July 10 there was another deposit OF $13 600,
Juv d of III. 200. ALI the o.
posits he made with US; he drew on US for So 900,
payable to the American Exchange Bank; / was
In the habit o seeing him quite often; | believed
ne was engaged in the subsidy in Washington; 1t
was general impression had got from what he
had told me; he never told me OF any amount that
he dlabursed; do not think there Is anything in
tins account that has ything to do with his dis
bursements In Washington.
The committee then adjourned to meet to-day at
ha lf.fua af an