The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-01-01

Ihis subsidy; Mr.. Stockwe did not name any
think that tin the Executive Committee aid not an.
ticipate an expenditure OF more than $4,000; ]
90 not recollect whether there was Iull board on
that occasion; do not think Mr.. Stockwell
named any specific sum; no report was made OF
the amount expended by M: Stockwell that ]
know Of; l 90 not remember Mr.. Stockwell max
ing me any personal statement: rhlnk have
met Mr.. Irwin; know nothing at ali about the
announcements a made by the company IN regard to
Mr. Beck then went into an examination Of the
committee. MIR. Masterton stated that an audit
ing committee was appointed 10 examine the &C.
that might appear On she BOOKS would nave come,
before their notice rather taan before that o. the
aSnt ~. Committee; know Lorning more
| have heard on the street
Mr. 9: A. Osborne was then sworn. have beef !,
q director OF the Pacific Mall steamship COmpan 4
since 1871, with the exception about a year; h
went in with the Stockwell Board and remained Il
member Of the Executive CommiItee; i wan
not at the meeting where the Resolution
was passed authorizing the expenditure o,
moneys by the President; | knew nothing
about what was going on about the subsidy;
stockwell was rather an autocrat in his position
40 not suppose anybody knew very mucn; as do
ton very seldom went to any OF the meetings.
as when asked any info nation RON Mr.. Stock
well could never obtain IT; tnlnk Mr.. Stockwelt
was at one time an enormous winner IN stocks,
and toward the latter part OF the year very
heavy loser; Mr. Stockweli Was gwen his own
way, as he had the control OF the dlrectlOn and
the few that wished to examine MS affairs could
make no stand against the majority; those that
have the controlling interest IN the STOCK have
the controlling interest in the company.
Mr.. d. u. Baxter was the next witness sworn.
was director in Pacific Mali. elected In the fall
ecutlve Committee that passed the resolution au-
to assist the passage OF the sub Idly believe that
Mr.. StOckwell stated that the expenditure would
be about So 600 or $1,000; did not know VINO was
attending to the subsidy Tor the company; I be-
lleve MI. Stockwell was specializing considerably
sell in the stock; the accounts Of The company
were laid before the Executive committee and be-
lore me BOARD OF directors once month: 40
an examination OF the books; as member Of the
Board was never aware That any money was
THE FALSE ENTRIES
that now know were then made would certainly
have affected the price OF the STOCK II they had
been exposed at the time suppose MI StOckWelI
was aware OF the condition OF the company; II he
was not nobody was; the person IN the position to
company was certainly Mr.. StOckweil; the presi-
dent had the authority to ill check for loan to
payment over $4,000 without the authority or the
Executive Committee.
TRACING THE CHECK.
Mr.. John Elliott, OF the house OF Riggs 4 Co.,
doing business IN New York and Washington, was
on the Marine Bank from the BrooSisn Mr. Irus3 CON-
pany, is Endorsed by Riggs 4 Co.. the indorse-
ment was made by me. and the check came from
asking Information; the transaction belongs to
the Washington house; do not know whether
the money was placed 70 Mr.. Schumaker's credit,
or whether he received the cash.
NOT THE IMPLICATED WHITING.
Mr.. Newton Francis Whiting was then sworn in
order to clear himself from any connection with
Pacific Mail matters Mr.. Niblack then stated he
was perfectly satisfied that this Mr.. WnltIng was
not the person referred TO, and that Mr. Clarke'S
statement had been incorrectly reported.
IRWIN, PER ALBERT"
Mr.. DumOnt Clarke was recalled and stated thai
they had been searching Tor the checks required,
but could not ind them; may state that per-
nf fhn 0nfL rla hnr frnn anil
responded with US In connection Win Mr.. lrwins
the letters were generally signed by Mr. Irwin,
per Albert; those three checks were undoubtedly
paid to Mr.. Irwin, else we would have remem-
bered something about them; the paying teller
Mr.. Beck Then said az Mr.. Irwin stated that no
personally had drawn some OF the money and had
left New York on May q we are rather anxious to
try and arrive at who got the money
Mr.. Clarke then explained how cnecks were paid
and what was done with them alter they were
paid. We take cash balance every night; l am
positive those checks were paid In cash. Mr..
Clarke then made some further statements In re.
laton to MI. TWINS account that proved OF no
great Importance
Mr.. John Baby was then sworn:-I reside In New
York; have been an sgent Of The Pacific Mai!
Steamship Company; have been in the employ Of
the company twentythree years; know nothing
the General public; the COMPANY paid my fare 70
Washington In 1870 20 use my personal influence
with Gends from Sam did mot
no knowledge OF any that was spent
did not go to Washington that year; never was
In Washington but once; know nothing person /
ally about the exchange OF cheeks; there Wa
considerable talk about sum or 100000 that wa
floating around and not charged 10 any one; ther
was q suggestion made at that time that Sh0uiu
carry 1t on my account, but as
/ DID NOT FEEL UP TO THE LOAD
l declined; do not know where that amount
ultimately found resting place; think that
my account; do not know whether ne was Jest \
ing or not; believe he was acting IN Mr.. Stool
Wells interest trying to get up a report.
AS there were no other witnesses on hand the I.
committee adjourned until two Z. M.
AFTERNOON SESSION.
Cyrus II. Taylor, the note teler OF the Central
National Bank, was the first witness sworn at the
afternoon session. He said, l am the note paye'
OF the Central National Bank; our BOOKS show Oh
the Goth Of May, 1872, We deposited check Of
$4,000, or about that amount, when was probably
received on That morning 1t IS Impossible for US
receive it from Washington.
BY Mr.. Kasson-It is not at all certain after tn
examination that we could say 10 whose credit
the $4,000 was paid; it would be impossible for u.
to make such an examination to-day.
WRITINGS ACCOUNT.
Mr.. Eugene Kelly was next sworn:-I am Q
member OF the firm Of Eugene Kelly Il Co.; we
and John .. Kelly Co. in San Francisco; this
certificate OF deposit, May co. 1872, drawn to the
Of e. s w or or
ingtOn; he has had an account with us Tor Il long
time; do not remember his address; do NOS
know whether 1t passed through our san
Francisco house or not; 1t was placed TO his credit
IN our books July 1872 500 700, the credit Of
some time ; he may have been in the Office with
out my seeing him; do not know waerc he IS
now residing; heard that he lives In Connecti.
cut; do not think that he is doing business IN
san Francsco; | think the firms name wa
Hooper, Whiting Il Co.. this credit was to Within.
individually; this account that hand you Is
record OF the checks anu deposits in Mr.. Writings
account from July 2, 1872, to January 3. 1873.
some cheeks were then pr0duc.c on Mr.. Kelly'B
bank that the committee desired some nlorma-
ton about. Mr.. Kelly said, / believe that tho
gentleman to whom that check (alludiEg to check
for S1o000) was made payable, Is the lion. Cor
nelus Cole, a brOther-in-law OF Mr.. Whiting; MT.
Cole was Senator from California. Nh. Kelly was
tnen asked to furnish a statement vi Mr. Whit.
ings account from January |, 1872 and forward IL
to the committee at washington.
Mr., RUFUS Eaten, recalled. said This Is tho
check book / find September 4, propeller g.,
500, 900: and propeller 6, 100000 making IN all
$500, 600; find on the opposite page, september
4, dividends and investments 1000 Panama Rail-
road, at ninety, $4,000; profit and loss, $4,000
shares at thirty-nve, 100000, added togetnel