The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-03-24
THE EMMA NINE SWINDLE.
WILLTIN NJ. STEUIRT'S EVENTFUL
HISTORY CONTINUED.
The Shameless Way IN which the stock wns
Put on the NIntket-Tbe Virtuous stewart
Taking S27O.OOO for his Legni services.

WAsufNGToN, March %. - Senator
stewart resumed his testimony before tho
House Committee on Foreign Affairs He said
that on his return from Paris to London he met
Gen. Schenck, who Informed him that he had
concluded to become a director In the Emma
Mining Company, not thinking there was any
improperly In doing so, Tor the reason that at
that time the Minister OF Portugal, one OF tho
oldest and most respected diplomats. was the
President OF a tramway company and also
vender Of the stock. Tho witness said
ho had reason to believe that Gen. schenck
knew before he became director that
Albert Grant was to receive tleO,OOO for
being the promoter OF tho scheme. The char
acter Of Grant was obtained from Mr.
Puleston, OF tho frm Of Jay Cooke, Nc
Culloch Co., who recommended Grant
to him and to Park as a man OF great
wealth, and brilliant operator. Grants
name as a promoter OF the scheme, which
would have frightened OF tho London public at
onoc was kept secret, because, Stewart said, II
was not customary to make the name of the
promoter known. After a sharp cross q KAN n l.
tOn by Mr.. Hewitt Of New York, stewart ad-
mitted that when two and a half million. Of
stock were offered by Grant In London, with tho
agreement that tho subscribers should get their
money back, II was with secret understanding
between him, Park, and Grant that the unsod
stocks should be secretly bought In for Grants
account, while the public would DO led to sup
lodged the question on this point with his
long winded answers until Mr. Hewitt insisted
upon having a categorical answer, and then he
replied Yes, with the explanation that IL was
the understanding, II the boars undertook to
blackball the stock md sell short when they
really had no stock for the purpose of destroy
Ing the stock, Grant was to manage and tax o
care OF the stock, which he did according to the
| practice OF the stock market"
Stewart charged 'rAt the attempt on tho part
| OF Lyon and johnson to iniure the prospects of
| the Emma mine was aconepiracy for black kmail,
which finally 'oke the mine ana made tho
| stock nearly worthless. Ho (Stewai) always
| had great faith IN the Emma mine.
Stewart. In his further testimony, said thu
| Park paid LYON $4,000 IN addition to the $780,
| uD In June. 1877, and told Stewart that II must
come from his share. He (StewaTU ana Hillyer
were to get fl0jOCl, and he became anxious
| about II. Park gave him check Tor SjJ.0rO for
Hlilyer, and bought Mrs. stewart s50,tOO worth
pf Canada southern and Utah Central bonds.
| lie went to Utah and remained year. at end
| ing to tho Interests OF the company, hgh Ing
wife. the cash paid from time to time, with a
cncck for SljOO OF $1,000 IN the settlement,
made, as near as he could get at IT, about t2iO,OUl
| that he (stewarD received for his professional al
| services.
Tho witness showed kilograms dated In Feb
| ruary and March aud threatening letter from
| Lyu dated March b. 1915, which he gave rs the
original Information to him Of Lyons inteu-
| uJns, which resulted IN the suit In New York
| az inst Baxter Park and Stewart Toy the Emma
| Mine Company of London to recover the 5000
| 900 purchase money. lio never had an under
stlnding with Park, either with regard to what
| tstewartsl share WIS TO be. Park said he would
| do the iair thtns, aud he left II all to Park
| Park was very grateful to Stew RI for his ser
Vices and said to him, " am going to take care
| Of you when giving the 10000 in bonds 70
| YOU can Dut away"