The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1876-03-02
EMMA Mine.
Interesting Details of the
Speculation.
How the Stock Was "Put
Ahoat.

that ne desires 70 TESTIFY before Tue house
Com mittee on Foreign Relations in the
Emma Mine Investigation. 1t is under
stood that Minister Schenck will sail for
America next Saturday, and will appear
before the committee in person. Friends
of General Schenck now in this city say
they are in possession OF letters written
by Lyon making q demand on ex Sena-
tor Stewart for 100000, under threat
of pub fishing his Lyons story. They
also say that this story is imPeached on
very material assertions by every wit
ness and document IN the litigation now
pending in England.
The witness then referred to the tele-
gram sent to London in 1871, that Sen
ator Blair had introduced a resolution
calling for an investigation Of General
Schenck's connection with the Emma
Mine. In a conversation with Park, the
latter said be had fixed the matter with
the General, whom he had induced to
give him Park bis note for the stock
and then to write him letter saying that
if his note and the stock were not
sufficient security he would give = mort
gage on his house and lot in Washing
ton. Mr.. Park said he had certified this
statement to Stewart and If Stewart
would do the same thing it would dry up
the resolution. The committee caused
to be. read a correspondence between
). T. Paford and General
Schenk, in letters Of July 9, 1873.
Paford wlshod wished Shenck to give
him certain information about tho Emma
Mine, and repeated the rumor that
Schenck did not give bona fde pay for his
shares. Whether this was true or not, q
countryman Of Schenck's, then in Lon
don, said
8, 200 shares Had Been Given TO
Sehenek
to foat the Emma stock, and that Stew
art had reserved 1000 shares to become
director of the Emma Mining Com
panv. Patford wanted to know whether
these things were true, and in conclusion
charged Park and Stewart, who were
friends of Schenck, with having
neiarious intent, and by fraudulent state
ments obtained from him and other con-
iding shareholders, large sums o. money.
be asked whether Schenck endorsed the
acts of these men, and said If an answer
should not be given he would furnish
full statement to be published in the New
York papers, and also call the attention
of President Grant to the question. To
this letter Schenck replied on July 10Th,
1873, saying that ne had responded to
the previous letter because 1t was respect
full in character, but when Psf-
ford subsequently attacked him in
public print publications, being &C
compsnied by inuendoes, he could
take no notice of his structures.
He, however, had no objection to give
Pafford all the information in his posses
sion, and he would call upon him at ten
o clock on next Sunday, his engagements
being such that he could state no other
time for an interview. The witness
Lyon then stated that Pafiord had an
interview with Schenck, who told Patford
that he did not know much OF the
witness, except that be was an
sdventurer and asked Paford whether
his name and Stewards were not better
than that of Lyons as they occupied
high and responsible positions. Patiord
said to Schenck there were many con-
current circumstances to induce persons
10 believe that money was given TO him
to float tho stock; that q countryman OF
Schenck's had said that the
latters means were to- incon-
siderable 10 psy for shares
Schenck Informed Paflord that be had q
pa,rimony from his fathers estate in the
shape of coal mine in Wisconsin. On
:his he borrowed $4,000 to pay for one
half of his stock, and the other S25, Geo he
bad borrowed from Park and had not
We, paid HIM all back. The with ess said
to Pafrord that there wero no coal mines
in Wisconsin. Subsequently the
witness called on McCulloch,
Of the banking house OF Jay Cooke, Nc
Culoch & Co, and when hcCulloch
asked him to let up on schenck and
not be two severe on him and said that
The General was Very Ind gnant
whenever the name of Emma Mine was
mentioned, the witness SAID in reply
that he was not surprised and that be
should not forgive Schenck for calling
him an adventurcr. McCulioch IN
formed him that Schence had denied
that ne called him an adventure.
The committee authorized Col. Cor
ham 70 iuiorm Mr.. Stewart that they
would hear him whenever he should pre-
sent himself about two weeks hence, and
the committee further ,sid that Lyon
would be recalled al that tim" 80 ths!
S.ewsr. could interrogate him. Lyon
said that this would be very agreeable to
himself and then resumed MS testimony
repeating that PAX hsd often
informed him that Schenck's name bad
sold the Emma Mine. and this, the wit.
ness believed, from Concurrent clrcum'
stances. ltappears from the replies 70
the questioning Of the witness by the
members of the Committee, that he com.
nromised bis interest in the mine for
: Il 100000, the original stipulated suu
being S5O0,Ooo. There was great induce
ment to withhold from the public Ter sooa
: a month Scherck's resignation as direc
tor OF the Emma Mine Company. ParA
: very much regretted the resignation, be
cause shares tell as low as fourteen pount
!, sterling. Owing to the Emma minin!
transaction, American securities general
; " were much depressed. j. II. Pule:ton
OF the banking house of Jay Cooke, Nc
Culloch s Co., bitterly compsinet
that their arm had been badl
treated, having received only aoou
$4,000 pounds sterling for tie use c
: their name IN putting the Emma MIN
stock on the market.
The Chairman laid before the Com
mittee the following
= Telegram Dated London,
to-day, addressed to himself: The re
port OF the proceedings a, TO Geuer.
!, Schenck's connection with the Emm
Times states; saoA to-dav's Londo
t told him gave Senator stewart ~ ~
= .bsres 70 become u'e'
tor and assis: in ,gs;IIloo
Schsnek's name on this board. In
n s,s,ement is absolutely untrue. IA.
=, Hsrer seen Lyon nor had any conmun