The Portland daily press., 1876-05-16


presume is now. Unaccompanied by any state
ment from Mr.. Blaine it would be regarded as
a scandal by the public.
Mr.. Rollins further testified that the IS bonds
were, as he learned, furnished by Col. Thomas
A Scott, in his transactions with the company.
He thought likely he conyersed with Cakes
Ames on the subject and derived the fact from
him. Mr.. Rollins said the original bonds were
exchanged under some new arrap cement for
oth-r bonds and the STOCK Of the Little Rock
and Fort Smith Railroad Company. The rea-
son why the old bonds were cancelled and new
ones issued in their place was because parties
i'll Boston made some arrangement to complete
the road. He could not tell the value of the
bonds of the road, nor did he know Of any re-
cent sale of them. He presumed they had con-
as he had heard parties talk of the
prospects of the road as promising, but he knew
nothing about the road.
Mr. Hunton directed the attention of Rollins
to the fact that according to the data he had
given the Union Pacific Railroad Company had
received only $33,729 for 70 bonds of the same
company, for which the paid 1854, 900 in 1871.
Mr. Rollins said he would explain hereafter as
to E. Atkins holding some of these bonds as
trustee.
Mr. Rollins in reply to question by Law
renee, said he did not know or remember from
what source he learned that Blaine was con-
nected with the bopds
Blaine asked-Do you know of any circum-
stance that led you to suspect that had any
connection with the bonds?
Rollins-NOne, whatever.
Blaine-Did Mr.. Harrison renew to you his
desire for an investigation?
RolliDs-He did not.
Harrison was recalled, and having been ask
ed the question by Hunton whether he could
tell the proximate value of the 70 bonds replied
he had heard them spoken of as valueless bonds.
When he made the motion in the board of d.
rectors for an investigation he believed them
ctr bar sbo
found among the assets of the Union Pacific
Railroad Company. The company at the time
was large borrower, and the 10 per cent in
come bonds commanded only from so to 60
cents on the dollar. He would telegraph to
New York and ascertain the value Of the rs
bonds at the date of the transaction.
Mr.. Blaine called Harrison's attention to the
point ip the latters testimony which Harrison
explained by saying that after what Rollins had
told him he asked 'Milard to stick pin there;
that such an investigation as he had proposed
would involve Blaine and might come up in the
future; he meant come up in Congress. Har-
rison said when Rollins was on the stand before
the Credit Mobier committee he telegraphed
to jeremiah M. Wilson, chairman, to ask Rol.
Inns certain questions about the 70 bonds, but
the questions were not asked and the next
thing he received was the information from
Secretary Delano that the board of directors,
including himself, of the Union Pacific Rail-
road Company must be changed. In answer to
question by Lawrence he said the bonds were
in possession of the Union Pacific Railroad
and that Rollins requested him to withdraw
his motion for an investigation, on the ground
that it would involve Blaine and defeat his
election.
Q-But that remark would seem from the
testimony to have been made after the Marie
election?
Ayes; but that's what Mr.. Rollins told
me.
al olyaH ,bar ~ &C IT..
rson, to which the latter replied. He though
it strange that the IS bonds of the Little Rock
q Fort Smith Railroad should be found among
the assets of the Union Pacific Company, and
that there must be some corruption about it,
He abandoned the investigation before the
board Of directors and reported to the Congress
sional committee.
Blaine-But did you do SO officially?
Harrison-I signed my name to the telegram
to the chairman as a. government director of
the Union Pacific Co.
Baine~Th committee of which Jeremiah
NJ. Wilson was chairman was an accidental
circumstance.
Harrlson-As soon as the committee was ap-
pointed reported to it the possession of the
bonds by the Pacific Go. implied a mysterious
transaction.
Blaine-If there was ground for supposinp
corruption was it not the duty of the directors
to officially call attention to it?
Harrison replied he signed his despatch to
the chairman of the Credit Mobilier committee
as government director, presumng the chair
man would ask Rollins certain questions about
those 70 bonds.
Harrison in answer to question by Blaine.
said so far as the books and papers of the I'm
ion Pacific Go. are concerned, yonr name is not
connected with these bonds.
Blaine-Have you any reason to believe was
corruptly associated with them?
Harrison-Only from what Rollins stated To
me.
Blaine-Have you not said that you held
something that would blow Blaine sky high
whenever you chose?
Harrison-I only repeated what Rollins told
me.
Blaine-You did not speak of having dyna.
mite that would blow me up?
MISUNDERSTANDING of that kind. have al
ways had friendly feelings for you and hope
that you will come out of this matter satisfac-
tory. If you had written to me should have
told you in reply that the books OF the Union
Pacific Railroad Go. do not show your name in
connection with the 70 bonds or in any trans
actions of that kind. All my information
Came from Rollins, who said an investigation
would ruin and defeat your election to Con-
gress.
before?
Harrison-Thar is what Rollins told me.
In further answer to Blaine's questions Har-
rison said he told the editor of the Indianapo.
lis journal that if Blaine was candidate for
the Presidency this matter ought to be cleared
up.
Blaine replied that Harrison had never af.
forded an opportunity to satisfy him of the
truth.
Blaine addressing Hunton said that al
though the resolution of the House under
which this investigation was held, did not re-
Ter 10 MIN by name, the proceedings had been
conducted as if he had been on the stand.
Hunton said that while it was true that
bialnes name was not montentioned in the
resolution there was not MAJ, woman or
child but knew the investigation was designed
for him, and SO Blaine must understand it,
Alter his conversation with him Blaine thanked
Hunton for his courtesy and kindness in open
ing the doors to this investigation and said that
on Col. ScottS testimony this case must stand
or fall. Col. Thomas A. Scott said he came
before the committee according to summons
and not on anybody's side. While. here he had
heard evidence On points duplicating his own
person and therefore wanted to testify. He
could explain not only all transactions with
reference to himself but everything about the
20 ponds. This was correct and proper trans.
action based on equities due to himself and
with which Blaine had nothing to do. He de.
sired to be witness in this case so his testi.
mony might 60 to the country in connection
with that already takon, and perhaps after his
testimony there would be no need of the other
witness.
AiItF d RECESS OF an QOur and q malt Col,
Scott was sworn, and being examined by Hun
ton testified. He formerly owned those rs
bonds of the Little Rock and Fort Smith Rail.
road Co, and bought them year and four
months previous to his selling them to the
Union Pacific Co. He bought them from 10.
siah Caldwell, who was negotiating the boods
OF that Co. Caldwell belonged to Boston, but
he did not know where he now was He un-
derstood, however, that Caldwell during the
panic of 1873, went to Europe after his failure
IN the West, and was there now.
He gave Caldwell eighty cents
on the dollar for the bonds and paid him in
currency or check or draft he did not remem.
Der which. The purchase was made in 1870
when be had nothing to do with the Union
Pacific Railroad Co. He gave $50, 900 for the
bonds and sold them to the Union Pacific
kallroad 60. through Morton, Bliss & Co., for
about $64, 900. When in March 1871, he en-
tered upon the duties of President of the cam.
pany, the stock was low down and everything
connected with it depressed, but it was not long
bafore there was marked improvement ia ali
its affairs He had believed the Company
would give him liberal compensation. He
was pressed for money which he wanted more
than the mere sulary and it was finally sug-
gested that the company should buy the rs
bonds OF the Little Rock & Fort Smith Co. He
was to have the option of buying them back.
The executive committee agreed TO buv the
bonds at the price fixed through Morton. Bliss
q Co, and the bonds went to the Union Pa.
citic Company in this direct way and in no
other way. His years salary had never been
paid. That would be 5000 with interest If
the Arkansas road hal haan oop,nIo.-I