The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-03-29

ed the propriety Of his having anythin
10 do with the management while actin
there in representative capacity, unles
he could be satisfied that there were pre-
Cedents Of the kind. II this should b
done, another condition would have to b
complied with-he must know the name
Of all the directors, as he had thus ia
heard the name Of only one person VIII
had been asked or agreed to become di
rector. On the Sd Of November the name
Of such persons were furnished him. II
was not acquainted with any Of them, bu
he learned that there were at tn
meeting, members Of Parliament ant
other gentlemen in high position. Th,
precedent of foreign ministers holdinI
office in joint stock company was founC
in the Minister from Portugal, one Of th,
Oldest and most respected Of the Diplo'
matte Corps, who was President Of
tramway company in Lisbon, the stool
Of which was being put on the market
schenck had nothing to do with th,
preparation Of the prospectus Of th'
Emma Mine Company. Schenck sale
that when he went into the business h
did not know there was such person a
Albert Grant, not being acquainted il
stock or financial circles. Schenck at
tended only two meetings Of the Board
on the 2slh and Both Of November. Hav
ing resigned in December, he never wen
near the Board OF Directors or the com
pany again. He took no part in the
management except giving a proxy tc
vote against the Gardiner scheme.
He related how lie and his friend
bought Eve hundred shares on the oper
market at $50 or E3l per share and ar
ranged with Jay Cooke, Mccullough 6
Co. 10 carry that stock. putting up as a
margin $4,000 gained by the purchase
and share Of the previous shares. Event
ually they were sold at Gl4 per share. Ir
the subsequent report Of his statement
Schenck calculated his losses in such O
speculation sale at $4,000 or 100000
OF the five hundred shares he originally
obtained from Park, he sold twenty-five
shares to Mrs. Bates receiving 600 pei
share. lie would have sold the remain
ing shares but for the fact that he had
been so mnch abused and criticised. This
determined him to retain his shares,
which he now held.
In explaining the settlement with
Park, he said he gave to him the five
pounds he received from
Mrs. Bates and Gl,SO4 in addition
There was credit OF G2,500 on the note
which he had given to Park, and which
note had been returned to him. This
amount Schenck did not understand until
his final settlement withPark. Itseemed
that Park had some arrangement with
Grant for the payment OF commission on
shares, and Grant gave Park commits.
sion on 800 shares held by Schenck, Of
which Park said Schenck ought 10 have
the benefit, as it belonged TO him. As to
the payment Of the remaining indebted.
ness to Park, the latter told him he need
not trouble himself, and hc felt as safe
without security Us with it, as he knew
it would be paid.
Mr.. SChenck then stated how lie paid
the remainder of the amount due Park
in stocks, &c. lie then alluded TO other
matters Of less importance in connection
with the Emma Mine, and read letter
from Sir Roundell Palmer in reference to
the law suit, disproving the statements
made against him. As 10 Lyon, some OF
whose statements he characterized Us
clumsy lies, he didn't know that he had
ever seen him.
The Committee adjourned until to.
morrow, when Schenck will again appear,
SILVER COIN.
The Finance Committee reported a
for Mr.. Sargent's bill relative
TO silver coin. The substitute provides
merely that the silver coin Of the United
States, except the trade dollar, shall be a
legal tender at their nominal value ior
any amount not exceeding S5 in one pay
ment. The bill introduced by Senator
Sargent and also by Representative Piper
not only 10 repeal the legal ten.
der power of the trade dollar, but to au-
thorize the coinage oil a new silver dollar
and make it legal tender for an amount
not exceeding $50. 1t was also proposed
by their bill to double the legal tender
power Of other silver coin.
WAR DEPARTMENT INVESTIGATION.
The Committee on Expenditures OF the
War Department to-day examined Alex.
Gray, a clerk in the Attorney Generals
office. He testified that B. &. Daniels
was desirous Of obtaining n post.trader.
ship at Fort Stanton, and promised wit
ness 81 900 il he would get it for him.
Gray went to Senator Carpenter, recon-
mended Daniels, and the appointment
was procured, but Daniels never paid him
the 81 900.
First Lieut.. Robert G. Carter, of the
Fourth Cavalry, testified that General
Reynolds sent 10 Gen. Mckenzie about
$4,000 or 10000 bushels Of corn bought
from Adams & Wicks, contractors at San
Antonio, but Gen. Mckenzie, who was
OF the post, refused to receive
it, on the ground that it was unfit for is
sue and loo high in price. Gen. Rey-
nolds ordered him again to take il, when
again refused and had au in.
spection Of the grain. 1t was found wea.
and therefore mostly unfit for
issue. After McKenzto's second protest
Reynolds made peremptory order, and
the former was compelled to take the
grain.
Mckenzie Represented that Adams &
Wicks were bad men; that they were mo-
the contracts OF the depart.
ment, and that other contractors offered
to furnish corn for Is or 90 cents bush
el less. The result was that Reynolds
preferred charges 10 Gen. Halleck against
Mckenzie for willful and obstinate dis
obedience OF orders, but he was never
tried. The witness said the damaged
corn laid around the post for long time
and was finally wasted, because the horses
would not eat it.
J, f, Barrow testified that he was ap.
pointed post traderat Fort Union in New
Mexico in 1868 through the influence
Of W. D. W. Barnard, brother.in.law Of
J. c. Dent. After trying other parties
he went to Barnard and promised him one.
third OF the profits OF the post. Barnard
wrote a long letter to Gen. Grant who
was then general Of the army telling him
Of the proposition made and detailing
the conversation had between the witness
and Barnard. The witness saw the let
ter. He enclosed an application for an ap'
pointment and got Il direct from Gen
Grant through Gen. Smith. Barnard al
ter enclosing the witnesses applica'
tion 10 Gen. Grant wrote to Mrs. Grant
telling her Of the proposition Of the wit
ness and asking her influence. The wit
ness says he read the letter and that Bar