Evening star. [volume] (Washington, D.C.) 1854-1972, 1875-02-22

AnSorsSFD NEFrtNG or cRrntroRS-rx-
AMINATIoN oF HENEr u. COOKS AND a.
An adjourned meeting OF creditors of the
estate OF Jay Cooke a Co. was held YESTERDAY
afternoon At he office .. Register Mason. the
object being "a hea objections which
might BE- Offered ~ - application OF the
banSrupts for Ihr~arge. The ATTENDANCE
was meagre, a.. as none az the creditors
eNinced any desire % ne hcard, Il 4. 4 Shurxf
ESQ. counsel Cor the committee OF creiitorS
stated hat he would like to further examine
W., ,S5 members az tie firm Who wers prrseat
Us request was granted, and Mr.. Henry ~.
Cooke. q the Washington house wa cailed
-, TOW many suggestions OF tho firm NJ jay
1ooSe 90. have you bccn interested inSa'
was ue nrst question.
Mr. Nooke.-Thre 1 think
i,,,, ~ ,,-s You bring any capital
g. Had YOU ANY prfyafe or SeDaratn estat.
outSide,Of the finn 4 No
z Nere you ia uehts 4. had some unset
tied and unaSccriainea obligations
q. Tan YOU give me approximately In.
amount Of those obligations A TbcT 49,.
upwards 81 Slco Ooo think.
q: Have you discharged those debts siace-
q. Had the firm any capital when Tue baSi-
ness was commenced an ISL. outside OF the
estates OF the partners: A. think there was
a contributed capital
q. Was C.ere any reorganization in 1885,
y. Tie profits which had previously aocu-
mula5od formed the basis Coz 1880 and 1874.
q W a. there rot an understanding that 10
make mp the capit.tl FOR the nrfn the mem
berS should put In from their individual e.
tatsS such amounts a. should be called COR.
q. Was rot the business from 1881 20 isss
NsTy pruutabl'' \. les, a. was very profit
q. What Amount during that pcrlni was
Nour share. 4. 1 hal onc-ei ghth "a Tie spro-
ntS Of 'he Washington house.
g. ~ The reorganization in 1885 what Tr.-
Pcrty hat you outside OF your business A
stocks. bonds. SC.
q. did tic Washington house carry on a
nrontable business after $50! \. hes. zap 10
The time az TIE failure.
q. I observe ~ The Papers filed that no
profits were credited 10 the Washington
house after lS''s. Can YOU explain thiSs A
The reason was that the Washington house
was merely n representative OF the olhat
house m lis dealings with The government.
G. When aid YOU purchase the property al
tie corner Of Washington and StoIiari
streets 4. In iS,3 or lSSg.
q. How much did ID cost $1,000 was
originally invested in o., but additional
ground was purchased and new Improve
mtntS afterwards made.
q. over how long a period did the addi-
llohal purchase OF ground extend: 4. About
TWO years.
q. And the additional improvements A.
About one wear.
Q. Did this money constitute part Of the
balance charged against you" 4. Nes.
q What have YOU done with this pr0p-
eriy A: IL VAS made over 10 Jay Cooke LA
trust for the firm.
Wlie or family rom this? a. The property
was bought and orr ginally conveyed % M
Morehead, a member OF the firm as trustee
Tor Mrs. Laura Cooke and her ca ildrrn but
| the subsequent conveyance was made absO-
| Lutte.
q. Was ID given aS security for an YOUR
uehiS 10 the rrm" \. 10 was intended 20 se-
cure special indebtedness OF O0l
q. When did YOU purchase tite proDertr
known as the Garter Place, 90 i'm q cor ctoWns
a. think, in 1871.
q. What was its coSto 4 n cost Oos
q Were the funds by which YOU ma o. this
purchase derived from the firm? AtNss.
a Was IT also conveyed 10 Jay Cooke in
Mr.. n. u. FahneStOck. OF the New York
house. was next called. lie testified that the
business was az first virtually carried 90,
without capital, but with n basis OE-the indi-
Nidual estates OF the partners. the accumu-
lateu prOfltS and deposits. In answer 10 queS-
tons concerning the contracts with western
railroads the witness stated that they began
IN 1872 or ls,0; they soon became very exten-
slNe. and That during the succeeding year the
Northern Pacific railroad company hal a
large money balance 20 their credit. lie con
>ldered the Northern Pacific railroad com
pany became the debtors OF the firm in july
lS12, as at that time the road obtained losn
Of S610,0 chiefly upon the security OF raft
road IRON. Mr.. FahnestOck admitted tina ne
was somewhat alarmed at the extent OF ad-
NanceS, as the original contract specially
limited obligations to advance 20 400 900
The remainder Of the testimony was the SANS
as that elected at previous examinations.
AT The request OF one of the creditors an
other meeting was appointed for next Thurs
day afternoon at oclock.-FhBa. Pres, is,h