Daily press and Dakotaian. [volume] (Yankton, Dakota Territory [S.D.]) 1875-1880, 1876-03-29
GENERAL NEWS.
Sixty Three Tnfortunates Leave
+. WisMrr Over the Sand
Hill Route.
1t is Comforting to Know that
they are Men of Endurance.
Schenck Talks to the IDyestiga-
ting Committee.
Schenck.

Schenck.
WAsuNGroN, Marct,- 2S-Ex-min--
,1gIrr1--ne he !
committee ON foreign affairs this
morning and The following pa.
pers:,
respectfully desire to state that .
since my ARRIVAL in Washington ]
haze read the printed testimony of
James T.. Lyon and Hiram a. John
son, on which the charges against me
appear to be founded. Tie testimony
zot-lhose witnesses was taken ii, my
absence and without any-ppportuni,y
for cross examination. This evidence
is.proposcd 10 show that the sale OF
the Emma mine by Park, Baxter aud
Stewart to the Emma company
Of London was fraud and to the,
-ea.sa.nlnation Of such fraud ! know
ingly lent the assistance o.. my
name and official position.
The charge is a very grave one and !
ask fora full investigation of it. AL
though not invited to appear before
the committees left London as soon
as learned from thenewspapers what
action had been taken, and came at
once to Washington mi ght rest
my vindication upon the simple state.
ment of my own connection with the
transaction in question, which pro-
pose 10 make, from which it will ap
pear that under |. belief in the value
OF the mine ! bought and paid forait,
and sustained a large loss ; but as
the committee have reGeived evidence
growing out of the previous history
Of the mine, intended to show that it
was of flittie-v,iue, and=thnt=tt,ez saic,
was fraudulent, and this evidence has
been crit was. such that after their in.
tercst had been sold AID pai6 for,
some 7of them purchased largely
Of stock at high prices and also
loaned out large sums OF money.
Mr.. Schenck described his meeting
( with Senator Stewart in London at
the hotel, of Win NJ. Evart Of
New York. When Stewart told him
that Park aud himself were interested
inthe Emma mine aud desired to put
the stock on the English market, aud
We're then neg ntlat'ng the matter,
Sntnck's attention was called to ,h..
I.',,le Cn,,onwood Case where con
si,lrrabl.. 1ric!, ore ha been found.
Sic yar, suggested tha, Schenck ought
to become Interested lu thus valuable
property. Shc,ck said he had no
means, aid il he had he would not go
into the matter unless he could con
siderably add to his income by tax
ing considerable number of shares.
That the subsequent failure Of the
mine vas owing to mismanagement
and that the mine is to day, if prop
erly worked. as valuable as it was
-t.l:t.,ned- OF supposed -te lac a..d--thAl
finally so far as | know or be)i, We lht
parties in England who were con
cerned in-tf'e- ,Hginal- purchase hav,
never claimed that any fraut
or imposition was practice.
desire the examination of wi,nesse
bv competent couusels acquainted will
the case, subject to such future qnes
1tions as any member Of the COMMITTEE
may wish to put, TO conduct tn
inquiry. Gen Schenck's statemen
concludes with tire request that tb
usual p iv,lcges OF assistance of pro
per counsel be accorded him. Shout
the comnfitrre- grant hrs request Ii
says he will be ready to proceed wit
the cross examination Of witnesses o
my own statement as the comni,te
may think most desirable. !.
Mr.. Swami remarked that the con
mittee would give Schenck every .f4i
cility with the aid Of counsel.
- Schenck then gave q circun
stant,al account Of Ills connectie
with the Emma Mine.
Mr.. Schenck finally decided to Ii
vest if Parks would let him ha,
money on time, say Tor year. Pa
having many shares, this matter w
settled between Park aud hims,
about the first of November, whit
their agreement was reduced to wri
ing and executed. Ii was utter
false that the agreement was WRIT
or executed at any time prior to I
dateSit bore. MIR. Schenck then C
hibited an agreement for 500 sh4r
Park promising te~give Schenck Y
per cent u mouth on the shares wh
they should bclheld by him or IA
them back at par. Subsequc
ly at Parks request red.
ton of u per 4cent. was ma
He had given his note to Park for
thousand pounds Tor thirteen mon,
General Schenck and the other sto
hblders received one and one half
cent. month. At the time be m;
this agreement, there had been no
ganization of,a company. AT the i
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