New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-05-26
VERDICT ON GEN, SCHENCK
Cont,uucd from Fifth Page.

firm IA
State Il based which evidently is that II is not becoming
ip an American minister 10 take any action TO promote or
further the sale OF shares OF a company IN tue
country TO which he Is accredited tbs eonhd prin
cipIe Is clearly violated when Gen schenck took Occa
SION in hs letter OF gnatOn 10 express ms sincere
and high appreciation Of each and every one OF the d
character with whom it has been to me pleasure to
have been connected, and TO state iutLer that cn
proh,a9eness OF te iLoperay ee nave nave ~ & 70
take" Here is a distinct Endorsement of the character
OF American directors who were the vendors OF the
property Messrs Park Stewart ana Baxter and the re
newed expression OF conf III the value of the mine
The testimony shows that the form OF this letter was inc
subject OF discussion between Gen. schenck ana MI
Pa and that ii modified N accordance win sue
gestions made by I latter.
scaenck have informed the board in such language as
he might have chosen to adopt, that he ndd cosniteI
thu beard and nAd been advised to withdraw and accord
ingly rendered his resignation He di, hoWevet Jus
the Oppcsite he asserted that his resignation was the
sult Of personal considerations and In reindorsmg tho
yeuders aud the property, he Aggravated tne OhebSe
which had been condemned by Secretary OF State
COW of this letter of resignation reached the State De
parement IN the month OF January 49, ana so n,x as
the correspondence submitted ~ inc COMMITTEE SHOWS,
the matter there dropped.
WHO WROTE THE REsIGNA1IONf
With regard to the preparation OF this letter OF
resignation, the testimony is somewhat conflicting
Lyon swears, page 5S, that Park told hun
tht Gen. schenck had written two letters OF designations
that Park showed him the first letter aud remarked 81
am going TO have letter than that from the Gene
raj !" that few pays aterward he sho" Ell MN second
aud modified letter. which WAS me one y se pr se
oss produced he rough draugnt OF ms letter OF les,sn
fop of which lie says refer TO te records OF the
Emma Mining Company you will find this 10 be "a h0e
rerba the resignation which was presented ana actod
upon" and adds. this resignation was not prepared VI
On page S36 he reterates that this is the only letter
which sent to the Board" but comparison with the
acfua letter OF designations page 3d. IT turned out that
Gen. ScheBck mistaken as to the ronsh urauSh'
not having been more extensively modified than az
entirely rewritten, in order 10 convey TIE IMPRESSION ui
with his public or official duty. so far as Park and
Stewart were concerned this was most material ad
dion the letter in It's bearing upon the sale OF the
reserved shares Of the Company A.. :, a., 49,.
On page $40 Gen sehenck teslnes that ne qua nOt
think Park had made any dlauht OF thls ietei OF rSs
nation At later date the Committee received from
London the actual letter of resign tlOn sent III Dy ecu
schenck 10 his own handSrl!lns and copy the1eoi IN
the handwriting of Mr. Park, who had previously teSl
fed that the beet Of las knowledge ana DeIe nc Bau
never made any such copy. Gen Sehenek stated that III
this copy there not ST. gle WORD IN his hahd-
lneatios OF two words, lie ncnes Ia the oplron That
they are his handwriting, and adds, Therefore must
adds that he Park may have taken e9py
at the very time | wrote NJ; Hnd nhaLS e9heluuttS
NV attention being directed 10 thOse words, am IN
cncd think that that copy may nave peen mace oS
Mr. Park and compared by me- and tlat where ne had
got II wrong from my original may have corrected
It." subsequently Gen. SChcnek says That he can
not admit that one OF these woids Is III MS M n.y.
interlneatuns in bic handwriting, bar tldt he can
not recolect. where, wnen, or why &c mace the copy
which previously he testified that he never had any reco
Iectiou OF having made on tue Whole the Committee
are of oniuion that Two letters Of resignation pre-
pared the one rOught draft written by Cen Schemes
and the other 9uCnued copy mace 10y MN a!ier
his conversation vita Piuk the second having been
modified from the first in accordance with the sugsef
ops OF Mr. Park AS tnis Is an important matter STOW
lug the relations OF Gen Sc"elch u Iaih AT tha tne
the exact language OF Para Is nerrW!lh hselru; 49,,
the letter which he atterwa0 psae ron uiat Ga,9H'
Of them; perhaps both oil them. nm S"%
item when the statement that he ropose TO e,an is
shares sad "Oeneral you 40 not "an 20 commit o,ssr
tot on utKH
YOU TO say whch you hold made that suggestion tnl
saw The other dicta ed word OF H. excer that
upon The trde ground o ile rtson or h
ucn, that ii so,s not nJue te O'.any On SS. @ @
himself 10 stock. has iJunCalCn Whatever
sCHENCK'S STOCK sPECULAT1oNs.
Besides the original allotment Of 800 shares which Gen.
schenck received under his contract with MI PARK he
became entitled to further allotment OF 800 shares IN
the month Of April 1872 These shares were subscribed
for carried aud sold without any intervention whatever
OIL the part of Gen schcnck beyond signing the applca
t,o, and the usual transfer form in blank, which blank
appears to have been hied IN VITA the hane oil y NJ
FISHER with whom Gen -chcnek Is PosuHt nov ~
he never nad any other transactions IN relation 10 me
Emma Mine. These shares were S0d SHORTY HIttfWafu
AT profit OF $4,000, which ~as pad IN TO Gen Scehtks
credit at Jaye Cooke, McCuiloeh * COS, Dut ny "hom
Gsu. schenE is not positive .., l.. ,.,.,
In Eis TESTIMONY before the Commissioner IN London;
Gen Schenck testic, page tHat Mr tatk ..'u NOT 1u
the money these shares, but tlat ne (en acHeHeh
own account and through his own and arrange
ueut" In his testimony before the committee, pages
Mr. Parks money purchased those shares. he tctites
"Yes MIR PARK, have since understood earned these
shares and arranged the tig during INC tAie oavs we
held them" Lyon tast.ics, page co. that lie deposttI
tie money required 10 procure the allotment oi tnSIe
SHARES having procured Oh NJ. Parks eheck ana hi
Park ttscs, page $50, that lie gave Lyon Tue cneCt
for this purpose, and again on page CO. tlat ne iuiou
the money 10 ply for te sOCk. iGc piOnt re hIcd Hoi
This transaction to have been used as we MAJ E
VITA Jay Cooke, McCml c1 Co i9r sPecuiau'e Y'i-
chase OF 500 Sit res O stock (page 352), 10 &c carried by
them Tor the joint account OF Gen schehcA ana G'
woodruff his ii st secretary OF Legation.
his nm, ~ d -
the time il became apparent That dYjehds "Ou
no lonaer e paid TINS I,.et communicated to Gen.
e. .nfI I'm a telegram, bearing Parks Signature agc
f}7t ana sent from New-IOrk to SchencR reaching MN
ar PARIS THIS telegram advised Cen schemes 10 sen 1000
sl,1Ies (page 743J. Fisher. in Paris at mat
time obtained this information from Gen ScencA ana
informed his broker III London tnat Cen sehcneR Lid
directed Col through, s second Secretary Oi i&S-
fio whom mad sent 10 Loud 10 lock ailer ths Ds
ness To se 1000 SHARES short Cen sem Iase sd
M answer "a question. whether he uld or ono NOT SEM
instructions Mn. Cncscbrousn 10 sell 2OOo shares oI
am yery strongly impressed with a belief that lid no
snep IninS ,t I nd naTe tI 10 do il ioT me
cone il Tor to- but nothing OF the sort was done
Hn Nm Fan s a. fsd ySriety satisfied my recollection
a 9e S dir c. Cesegroue 70 sell te 1000 shares AID
al any that no 1900 shares were eve s'- oI me r.
aniry 10 Mr. Cacscbrough, which III following reply
has been receive since tne printing OF inc evidence "
iEcAnoS OF TIE USiIED sIAgs LoSpoN Nay g. is7G
telegram OF YESTERDAY (sLnia = ooo o. t.,,oa
bid 'clonck er oirect you 10 sen u"o suueS Hi"
stcoki Telegraph BrieIy, and wri,e lniy. ,,,
To which have reIioO TINS mornns as follows :. ,o
written mail, requested
he ni,sie "b1ehy,' ia telegram 10 answer TIE
inauiry sat sfact0rly. $3.50, -. 900 p,
bo a - IN tho case that on the IAN December 70
was in ans Gen. scbtncA arrived tI"Io VII" hS
daughters Tie eveang o Tie sar ca DO Ioo'I ca io
ton that pnce OF Emma stock bad dscieh rSp9S
LARGELY and hc came Ia much anxiety say Ing at nc
have London imniclult!y lieSS "Ohll
lie requested me, on my ar
val In Ipdon tO two Of The directors ~ the Com
pluy ascertain cr views as To the couui,O ~, ;
&c and tseB 10 Instruct JaS cooke, Me- uloch 90 about
oa seGe slts they carrsing Tor nm Oh ue
i7fs Hecembs the following telegram from Gen.
EcheDek: -, , ,,.o,a,,o,, o oo6 poyt ar
"koep my 4Io investments eeh az "'sNiNN'V" -'V 49, ~
count 800 WOOdhnlL" $500 -. ..u.or, ,,.
* t''
a. They sold The 1NO