New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-03-30

the stock market and invest money without REFER
ence to his obligations to the Government Gen.
Schenck answered that so long as he did not oifehd
public proprety he had right to buy and sell any
kind of property, whether as a Minister, memoer
of Congress- or occupying any other capacity
Mr.. Swami asked whether he considered that ne
had right to engage in speculative stocks. zen.
Schenck replied he thought he had right TO BUY
and sell such stocks 1t would not however, be
commendable to go into the stock market, because
this might be considered inconsistent with his posi-
ton as Minister but if he could buy and sell stock
in good companies or other kinds Of property he
should not be prevented from doing 80 because OIL his
official position.
Mr. Swami said 81 understand you to say you
have the right to invest in what you please az an
American Minister irrespective of your obligations
to the Government p
Gen. Schenck replied: "If il be an honest enter
prsep
Mr. Swann-That is another question.
Gen. Schenck repeated that he had right to IN
vest in any honest enterprise while acting in an OIL
cial capacity, and no had right to censure him
for so doing.
Mr. Faulkner asked what was the reputation OF
the Portuguese Minister, whose Presidency of the
Lisbon Tramway Company was taken by Schenck
as precedent for serving director of the Emma
Mine Company. Mr.. Schenck briefly spoke of the
public services of the Portuguese Minister, saying
that his character was excellent
In the course of the examination Gen. Schenck
said he made mistake in permitting his name to be
used as a director Of the Emma Mine Company, and
this gave him concern than anything else con-
nected with the matter. He might be obtuse, but
he could not see he committed a moral wrong in
becoming a director. 1t is his impression from all
the information he could obtain that if money were
expended in sinking shafts, and in explorations the
mine would be found enormously valuable.
Gen. Schenck during the examination, denying the
statements of Jas. L. Lyon, whom he had seen but
once, submitted the following letter addressed to
him, dated London, March ID, 1876, by Harry
Brett:
Your ExcELEScY: 1t appears by the report In the
tubc press that James +. LYON Of Wisconsin, now
transacting business at NewIOrk, has been giving
evidence against You. In 1874 one James Elas Lyon,
! adjudicated a bankrupt. He appears to nave Deen
and TIC to have dubbed freely in Stock Exchange
transactions and the claims already rendered against
h estate amount TO between geo and $4,000 sterling
James Elias Lyon the bankrupt, aDscohdeu from En- ~
gland. am informed firstly to Paris and subsequently
TO Brussels has since been lost sght or ne uds
filed no statement OF his affairs; neither has lie sur
| rendered to his bankruptcy. He is also re-
| ported to lave been connected WIN some AiI,i
! lean mining operations in London. Ills
adjudication only took place after very long delay he
having kept his creditors AT arms length as long as pos
sibe. As of the Committee or INSPECTION am VIZ
DESTROYS OF ssceraining the present Whereabouts ole
bankrupt and whether he is identical Wit tue james ~
LYON OF Wisconsin, and my be able To render you some
assistance retGrn for any kind information which you
! may he in position 10 give me